Stockwinners Market Radar for June 28, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:01 EDT Dialog invests extra $15M in Energous - Energous (WATT) announced that Dialog Semiconductor (DLGNF) is investing an additional $15M in Energous and will continue as the exclusive component supplier of WattUp technology. Energous will continue to have access to Dialog's broad sales and distribution channels to help advance its go-to-market strategy. This $15M investment from Dialog adds to its initial investment of $10M at the beginning of the partnership in November 2016. The partnership combines Energous' uncoupled wireless charging technology and Dialog's power saving technologies. Energous' WattUp technology uses Dialog's SmartBond Bluetooth low energy solution as the out-of-band communications channel between the wireless transmitter and receiver. Dialog's power management technology is then used to distribute power from the WattUp receiver IC to the rest of the device while Dialog's AC/DC Rapid Charge power conversion technology efficiently delivers power to the wireless transmitter.

18:34 EDT DuPont, Dow Chemical boards reiterate support of merger agreement - Dow Chemical Company (DOW) and DuPont (DD) jointly provided an update on the status of the anticipated merger of the two companies. The Boards of Directors of both companies reiterate their support of the merger agreement. In addition, as announced, both Boards support a comprehensive portfolio review for DowDuPont, which is intended to assess current business facts and leverage the knowledge gained over the past year and a half to capture any material value-enhancing opportunities in preparation for the intended creation of three industry-leading companies. The Boards have jointly commenced the review and have engaged McKinsey & Co. to assist the companies in this assessment. The lead independent directors of each company are working together to oversee the process. The DowDuPont Board is expected to review the results soon after the merger closes. "The management teams and directors of both companies are in regular dialogue with our shareholders, and we have undertaken significant preparation work in advance of the close," said Jeff Fettig, Lead Director of Dow. "As a collective board we are committed to delivering maximum, long-term shareholder value by ensuring that each of the intended companies will have clear focus, an appropriate capital structure, a distinct and compelling investment thesis, scale advantages, and focused investments in innovation to better deliver superior solutions and choices for customers." "Dow and DuPont leadership are committed to maximizing the tremendous value creation potential of the merger and anticipated spins," said Alexander Cutler, Lead Director of DuPont. "Our review will provide an in-depth look at the portfolio mix and alignment across divisions to ensure we capitalize on all value-enhancing opportunities. The output of the review will be an immediate focus for the DowDuPont Board following merger close. If the results of our review demonstrate there is net greater long-term value creation to be realized through a change in the portfolio, it will be pursued." The companies reaffirmed their expectation to close the merger in August 2017, with the intended spin-offs to occur within 18 months of closing.

18:26 EDT Alon USA Energy stockholders approve Delek US merger - Alon USA Energy (ALJ) stockholders have approved all proposals related to the merger transaction pursuant to which Delek US (DK) will acquire all of the outstanding shares of Alon common stock which it does not already own in an all-stock transaction. Approximately 89% of Alon's outstanding shares and 79% of Alon's outstanding shares voted to approve the merger agreement and the transaction. Of the shares voted, approximately 99% were cast in favor of the proposal. The closing of the transaction is subject to approval by the stockholders of Delek at a special meeting on June 29. Alon expects the transaction to close effective as of July 1.

18:24 EDT Alimentation Couche-Tard confirms closing of CST Brands acquisition - Alimentation Couche-Tard (ANCUF) confirmed the closing as of June 28 of the acquisition of CST Brands (CST) and its transaction with Parkland Fuel.

18:03 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Progress Software (PRGS), up 5.8%... Worthington (WOR), up 2%. ALSO HIGHER: Gemphire Therapeutics (GEMP), up 5.4% after its Phase 2b COBALT-1 clinical trial achieved its primary endpoint... Nxt-ID (NXTD), up 4.8% after its subsidiary Fit Pay agreed to provide payment capabilities for Token... Kulicke & Soffa (KLIC), up 3.4% after it provided third quarter and fiscal 2017 guidance... Sarepta (SRPT), up 1.9% after it named Douglas Ingram president and chief executive officer... Staples (SPLS), up 1.2% after it agreed to be acquired by Sycamore Partners for about $6.9B. UP AFTER FED CCAR NON-OBJECTIONS: Fifth Third (FITB), up 3%... Discover (DFS), up 2.7%... SunTrust (STI), up 2.5%... Citi (C), up 2.3%... Regions Financial (RF), up 2.3%... BNY Mellon (BK), up 2.2%... JPMorgan (JPM), up 2.1%... Citizens Financial (CFG), up 1.9%... Bank of America (BAC), up 1.5%... Morgan Stanley (MS), up 1.4%... Wells Fargo (WFC), up 1.4%... PNC Financial (PNC), up 1.3%... Zions (ZION), up 1.2%... Goldman Sachs (GS), up 1.2%... American Express (AXP), up 1.1%... U.S. Bancorp (USB), up 1%. DOWN AFTER EARNINGS: Pier 1 Imports (PIR), down 10.8%. ALSO LOWER: Bellicum Pharmaceuticals (BLCM), down 7.3% after it filed to sell 5.03M shares of common stock for holders... Akebia (AKBA), down 5.8% after it announced a common stock offering... Physicians Realty Trust (DOC), down 5.8% after it filed to sell 20M common shares of beneficial interest... Carrizo Oil & Gas (CRZO), down 3.3% after it filed to sell 15.6M shares of common stock... Capital One (COF), down 2.6% after the Federal Reserve Board said that Capital One is required to submit a new capital plan within six months that addresses "identified weaknesses in its capital planning process."

18:02 EDT Salix confirms FDA accepts NDA for PLENVU - Valeant Pharmaceuticals' wholly owned subsidiary, Salix Pharmaceuticals announced that the U.S. FDA accepted the New Drug Application for NER1006 (PLENVU) a novel, lower-volume polyethylene glycol based bowel preparation that has been developed to help provide complete bowel cleansing, with an additional focus on the ascending colon. As high preparation volumes can often be a deterrent in patients fully completing their regimen, PLENVU, when approved, will offer the lowest total volume of solution for an FDA-approved bowel cleanser in the market.

18:00 EDT Goldman Sachs: Fed did not object to capital plan - Goldman Sachs announced that the Federal Reserve Board did not object to its capital plan, which allows the firm to repurchase outstanding common stock, increase its common stock dividend and issue and redeem other capital securities.

17:55 EDT Northfield Bancorp CEO John Alexander to retire, Steven Klein to succeed - Northfield Bancorp announced that John Alexander, Chairman and CEO has advised the Company's Board of Directors that he intends to retire as CEO of the Company effective October 31. The Boards of the Company have selected Steven Klein, President and COO, to succeed Alexander as CEO as of November 1. Alexander will continue his service as Chairman of the Board of Directors of the Company.

17:38 EDT Toronto-Dominion confirms Fed did not object to 2017 capital plan - "The Board of Governors of the Federal Reserve System announced 2017 Comprehensive Capital Analysis and Review results. The Fed did not object to the capital plan submitted for TD Group US Holdings, TD Bank Group's top-tier bank holding company in the U.S. This positive result reflects the strength of our U.S. business, our capital position and risk appetite framework."

17:30 EDT CoStar Group sued by Xceligent for antitrust violations - Xceligent, a provider of commercial real estate information, filed an antitrust suit today against CoStar Group claiming monopolistic business practices. Xceligent claims its intention is to prevent CoStar from blocking the commercial real estate industry's ability to freely share its information. Xceligent CEO Doug Curry said the company is not only asking for monetary relief for antitrust activities and defamation, but is also "asking the federal government to bring an end to CoStar's monopoly in the CRE information industry". Xceligent claims to be "the only remaining viable competitor to CoStar and the only competitor to ever dedicate the substantial resources and funding necessary to create a national alternative to CoStar".

17:20 EDT Staples to be acquired by Sycamore Partners for roughly $6.9B - Staples and Sycamore Partners announced that they have entered into a merger agreement in which investment funds managed by Sycamore Partners will acquire the company in a transaction that values Staples at an equity value of approximately $6.9B. Under the terms of the merger agreement, all Staples' stockholders will receive $10.25 per share in cash for each share of common stock they own, which represents a premium of approximately 20% to the 10-day volume weighted average stock price for Staples shares for the period ended April 3, 2017, the last trading day prior to widespread media speculation about a potential transaction. Staples' Board of Directors has unanimously approved the merger agreement and recommends that all Staples stockholders vote in favor of the transaction. The transaction is subject to customary closing conditions, including the receipt of regulatory and stockholder approval, and is expected to close no later than December, 2017. The closing is not subject to a financing condition.

17:19 EDT Staples trading halted, news dissemination

17:18 EDT Lockheed Martin awarded $257.8M government contract modification - Lockheed Martin Corp., Lockheed Martin Aeronautics Co., Fort Worth, Texas, is being awarded a $257,780,849 firm-fixed-price modification to the previously awarded low-rate initial production lot 10 F-35 Lightning II advance acquisition contract. Work is expected to be completed in June 2020. The Naval Air Systems Command, Patuxent River, Maryland is the contracting activity.

17:14 EDT M&T Bank says capital plan includes $900M in buybacks, 5c dividend hike - M&T Bank announced that the Federal Reserve did not object to M&T's 2017 Capital Plan and its proposed capital actions for the four quarter period beginning July 1. The 2017 Capital Plan includes the repurchase of up to $900 million of common shares during that four-quarter period and an increase in the quarterly common stock dividend in the second quarter of 2018 of up to $0.05 per share to $0.80 per share. M&T may also continue to pay dividends and interest on other equity and debt instruments included in regulatory capital, including preferred stock, trust preferred securities and subordinated debt that were outstanding at December 31, 2016.

17:04 EDT Kindred Healthcare to partner on new Montana rehabilitation hospital - Kindred Healthcare, Billings Clinic and St. Vincent Healthcare announced the signing of a definitive agreement to create a partnership to construct and operate a 34-bed inpatient rehabilitation hospital in Billings, Montana. The new inpatient rehabilitation hospital, The Rehabilitation Hospital of Montana, will offer all private rooms and treat patients who are recovering from conditions such as stroke, traumatic brain injury and spinal cord injury. Kindred will manage the day-to-day operations of the hospital, which is expected to employ more than 100 caregivers and staff. Subject to several regulatory and other approvals, the partners expect the inpatient rehabilitation hospital to open by the first quarter of 2019. Kindred and St. Vincent Healthcare have an existing relationship as Kindred manages New Hope. Kindred and St. Vincent Healthcare plan to transfer the operations of this unit to the new rehabilitation hospital once it is open.

16:54 EDT Bank of America to boost quarterly dividend 60%, authorizes $12B share buyback - Bank of America announced that the company's Board of Directors plans to increase its quarterly common stock dividend by 60% to 12c per share, beginning in the third quarter of 2017. Also, the Board authorized the repurchase of $12B in common stock from July 1, 2017 through June 30, 2018, plus repurchases to offset shares awarded under equity-based compensation plans during the same period, estimated to be approximately $0.9B. The Federal Reserve Board has informed the company that it completed its 2017 Comprehensive Capital Analysis and Review and that it did not object to Bank of America's capital plan, including the proposed dividend increase and stock repurchases.

16:52 EDT Northern Trust to increase dividend to 42c per share, buy back $750M in stock - Northern Trust Corporation announced that the Federal Reserve did not object to its 2017 Capital Plan. Pursuant to its 2017 Capital Plan, Northern Trust requested authority to increase its quarterly common stock dividend to 42c per share from 38c per share, effective in Q3 of 2017 and subject to approval by the company's board of directors. Northern Trust's 2017 Capital Plan also provides the company with the flexibility to repurchase up to $750M of common stock through the open market or in privately negotiated transactions between July 2017 and June 2018.

16:51 EDT Comerica plans to increase dividend 15%, buy back up to $605M of common stock - Comerica announced that the Federal Reserve has completed its 2017 Comprehensive Capital Analysis and Review and did not object to the Comerica capital plan and capital distributions contemplated in the plan. The plan includes equity repurchases of up to $605M for the four-quarter period commencing in the third quarter 2017 and ending in the second quarter 2018. The timing and ultimate amount of equity repurchases will be subject to various factors, including the Company's financial performance and market conditions. In addition, at its meeting on July 25, the Board will consider increasing the Company's quarterly dividend to 30c per common share, a 15% increase over the current dividend rate.

16:50 EDT BBVA Compass receives no objection to its 2017 capital plan - BBVA Compass Bancshares, a Sunbelt-based bank holding company, announced that the board of governors of the Federal Reserve System did not object to its capital plan and capital actions proposed in the capital plan. BBVA Compass' capital plan includes common dividends of $200M during the covered period, subject to approval by BBVA Compass' board of directors.

16:48 EDT PNC says proposed capital plans include 36% dividend hike, $2.7B in buybacks - The PNC Financial Services Group announced that the Board of Governors of the Federal Reserve System accepted its capital plan and did not object to its proposed capital actions. The capital plan included a recommendation to increase the quarterly cash dividend on common stock by 20 cents per share, or 36%, to 75 cents per share, in the third quarter of 2017. PNC's board of directors is expected to consider this recommendation at its next scheduled meeting July 6. The capital plan also included share repurchase programs of up to $2.7 billion for the four-quarter period beginning in the third quarter of 2017. These programs include repurchases of up to $300 million related to employee benefit plans.

16:47 EDT CIT Group receives no objection to its 2017 capital plan - CIT Group announced that the board of governors of the Federal Reserve did not object to the company's capital plan as part of the Comprehensive Capital Analysis and Review, or CCAR. The non-objection to the capital plan allows for the following actions for the four-quarter period ending June 30, 2018: Payment of a quarterly cash dividend of up to 16c per share on common stock, beginning with the Q3 2017 dividend. The Q2 2017 dividend, payable in August, is expected to be 15c per share. Common stock repurchases of up to $225M, which includes $25M related to employee stock ownership plans.

16:46 EDT SunTrust boosts quarterly dividend 54%, authorizes $1.32B share buyback - SunTrust Bank announced that the Federal Reserve Board has completed its review of the company's Capital Plan submitted in connection with the 2017 Comprehensive Capital Analysis and Review and has no objections to the company's planned capital actions. The capital actions, subject to the approval of SunTrust's Board of Directors and anticipated to cover four quarters, include: A 54% increase in the quarterly common stock dividend from 26c per share to 40c per share, beginning in the third quarter of 2017; Authorization to repurchase $1.32B of outstanding common stock between July 1, 2017 and June 30, 2018, a 38% increase in the average quarterly repurchase amount compared to the previous authorization; Maintaining dividend payments on the company's preferred stock.

16:43 EDT BNY Mellon to raise dividend 24%, repurchase up to $3.1B of common stock - BNY Mellon announced that the Federal Reserve did not object to the 2017 capital plan in its Comprehensive Capital Analysis and Review. As a result, the company's board of directors has approved the repurchase of up to $2.6B of its common stock starting in the third quarter of 2017 and continuing through the second quarter of 2018. The board also approved the repurchase of up to an additional $500M of common stock contingent upon the company issuing $500M of preferred stock. The 2017 capital plan also includes an approximately 26% increase to BNY Mellon's quarterly cash dividend on common stock from 19c to 24c per share, commencing as early as the third quarter of 2017, subject to board approval.

16:41 EDT Fifth Third to raise dividend to 16c, repurchase $1.161B of common stock - Fifth Third Bancorp (FITB) announced that the Board of Governors of the Federal Reserve System did not object to Fifth Third's proposal for potential capital actions from July 1, 2017 through June 30, 2018 included in its capital plan submitted in April under the Comprehensive Capital Analysis and Review process. Fifth Third's capital plan included the following capital actions related to common dividends and share repurchases for the period beginning July 1, 2017 and ending June 30, 2018: The increase in the quarterly common stock dividend to $0.16 from $0.14 beginning 3Q 2017 and to $0.18 beginning 2Q 2018, a 29 percent increase over the current dividend rate; The repurchase of common shares in an amount up to $1.161 billion, or a 76 percent increase over the 2016 capital plan. These repurchases include: $88 million in repurchases related to share issuances under employee benefit plans; $48 million in repurchases related to previously-recognized Vantiv tax receivable agreement transaction after-tax gains; The additional ability to repurchase common shares in the amount of any after-tax capital generated from the sale of Vantiv common stock; The additional ability to repurchase common shares in the amount of any after-tax cash income generated from the termination and settlement of gross cash flows from existing TRAs with Vantiv or potential future TRAs that may be generated from additional sales of Vantiv (VNTV).

16:40 EDT Malibu Boats trading halted, news pending

16:39 EDT Citi plans 32c per share quarterly dividend, $15.6B share buyback - The Federal Reserve Board announced that it does not object to the planned capital actions requested by Citi as part of the 2017 Comprehensive Capital Analysis and Review. The planned capital actions include an increase of Citi's quarterly common stock dividend to 32c per share, as well as a common stock repurchase program of up to $15.6B during the four quarters starting in the third quarter of 2017. These planned capital actions total $18.9B over the next four quarters.

16:39 EDT Fed completes CCAR review, says Capital One required to resubmit - The Federal Reserve Board has completed its review of the capital planning practices of the nation's largest banks and did not object to the capital plans of all 34 bank holding companies participating in the Comprehensive Capital Analysis and Review. However, the Board is requiring one firm to address weaknesses in its capital planning process and resubmit its capital plan by the end of 2017. Specifically, the Federal Reserve did not object to the capital plan of Capital One (COF), but is requiring the firm to submit a new capital plan within six months that addresses identified weaknesses in its capital planning process. The Federal Reserve did not object to the capital plans of Ally Financial (ALLY), American Express (AXP), Bank of America (BAC), Bank of New York Mellon (BK), BB&T (BBT), Citigroup (C), Citizens Financial (CFG), Comerica (CMA), Deutsche Bank (DB), Discover (DFS), Fifth Third Bancorp (FITB), Goldman Sachs (GS), HSBC (HSBC), Huntington Bancshares (HBAN), JP Morgan Chase (JPM), Keycorp (KEY), Morgan Stanley (MS), Northern Trust (NTRS), PNC Financial (PNC), Regions Financial (RF), Santander (SAN), State Street (STT), SunTrust (STI), U.S. Bancorp (USB), Wells Fargo (WFC), and other participants in the test. Reference Link

16:38 EDT U.S. Bancorp receives no objection to its 2017 capital plan - U.S. Bancorp announced that the Federal Reserve did not object to the cmpany's 2017 Capital Plan following its conclusion and assessment of the 2017 Comprehensive Capital Analysis and Review, or CCAR. As a result of the Federal Reserve's non-objection to U.S. Bancorp's plan to increase its dividend rate, the company will recommend in July that its board approve an increase to the quarterly dividend rate beginning with the Q3 dividend payable in October 2017. The company expects to recommend a Q3 dividend of 30c per common share, a 7.1% increase over the current dividend rate. At this quarterly dividend rate, the annual dividend will be equivalent to $1.20 per common share. Additionally, the board of U.S. Bancorp has approved a four-quarter authorization to repurchase up to $2.6B of its outstanding stock, beginning on July 1, 2017, to replace the current four-quarter authorization, which expires on June 30, 2017.

16:37 EDT State Street to increase dividend to 42c and repurchase up to $1.4B in stock - State Street announced that the Federal Reserve did not object to the company's capital plan, reviewed by the Federal Reserve as part of the 2017 Comprehensive Capital Analysis and Review process. The capital plan includes a proposed common stock dividend increase and a new common stock purchase program. The capital plan proposes an increase to the quarterly common stock dividend to 42c per share, from 38c per share, beginning in Q3. State Street's Board of Directors will consider this increase in common stock dividend at its regularly scheduled meeting in July. Additionally, State Street's Board has approved a new common stock purchase program authorizing the purchase of up to $1.4B of its common stock that was included in the capital plan. The program will be effective July 1, 2017 and extend through June 30, 2018. The capital plan includes no net issuance of preferred shares over the program period of July 1, 2017 through June 30, 2018.

16:36 EDT Morgan Stanley boosts quarterly dividend to 25c per share, to repurchase $5B - Morgan Stanley announced that the Board of Governors of the Federal Reserve System did not object to the Firm's 2017 Capital Plan. The capital plan includes the repurchase of up to $5B of outstanding common stock for the four quarters beginning in the third quarter of 2017 through the end of the second quarter of 2018, an increase from $3.5B in the 2016 Capital Plan, as well as an increase in the Firm's quarterly common stock dividend to 25c per share from the current 20c per share, beginning with the common dividend expected to be declared for the third quarter of 2017.

16:32 EDT Territorial Bancorp declares 10c special dividend - Territorial Bancorp, the holding company parent of Territorial Savings Bank, announces that its board has declared a special mid-year cash dividend of 10c per share payable on July 26 to shareholders of record as of July 12.

16:24 EDT Progress Software up 6.4% after earnings, guidance

16:24 EDT Pier 1 Imports CFO highlights underperformance in Outdoor category - "We delivered strong year-over-year merchandise margin improvement and performed well against our cost initiatives again in the first quarter. However, the Outdoor category underperformed our expectations, resulting in some softness in top-line performance. Although the Outdoor category is expected to adversely impact sales and merchandise margin in the second quarter, we are carefully managing inventory levels and anticipate that our operating and growth initiatives will continue to gain traction as we move through the year," said Pier 1 CFO Jeff Boyer.

16:22 EDT New Pier 1 Imports CEO: 'Still much to be done' - "Whilst we've shown operational improvement for several consecutive quarters, there is still much to be done... My first few weeks with the company have provided an enhanced perspective on our strong brand equity and competitive omni-channel platform -- supported by exceptional people and a culture that is committed to success. Pier 1 Imports has a loyal customer base, productive store portfolio, large and growing e-Commerce presence and strong balance sheet. Looking ahead, we will be focused on uncovering additional opportunities to leverage these assets to broaden our customer reach, enhance our competitiveness and drive growth. I look forward to sharing more detail in the coming months," said newly appointed Pier 1 CEO Alasdair James.

16:19 EDT Greif to repurchase 4M shares of Class A, Class B common stock - Greif announced authorization by the company's board of directors to repurchase up to 4M shares of Class A Common Stock or Class B Common Stock or any combination of the foregoing, but there are no immediate plans to execute open market transactions.

16:17 EDT Southern Company and Mississippi Power suspend Kemper County facilitySouthern Company - Southern Company and subsidiary Mississippi Power are immediately suspending start-up and operations activities involving the lignite gasification portion of the Kemper County energy facility. The combined cycle plant has been serving electricity customers for almost three years. The facility will continue to operate using natural gas pending the Mississippi Public Service Commission's decision on future operations. This action is being taken to preserve the safety and health of the workforce and safety of the facility, while still retaining the necessary workforce to operate the combined cycle power plant. The company will fully participate in the proposed settlement docket to be established by the Commission on July 6. The company will make any future announcements as to the status of the project based on the outcome of that process or future Commission action.

16:15 EDT Carrizo Oil & Gas acquires Delaware Basin properties - Carrizo Oil & Gas announced that it has agreed to acquire Delaware Basin properties from ExL Petroleum Management, a portfolio company of Quantum Energy Partners, for $648M in cash, subject to customary closing adjustments.

16:12 EDT Aduro says first patient dosed in malignant pleural mesothelioma Phase 2 trial - Aduro Biotech announced that the first patient has been dosed in the company's Phase 2 clinical trial in malignant pleural mesothelioma. The trial, which will involve approximately 35 patients, will evaluate the tolerability, safety and efficacy of CRS-207, Aduro's LADD based immunotherapy, in combination with Keytruda, an anti-PD-1 therapy marketed by Merck, for the treatment of patients with MPM whose disease progressed following prior treatment.

16:12 EDT NXT-ID subsidiary Fit Pay to power Token identity solution - NXT-ID's wholly owned subsidiary Fit Pay, a provider of payment, credential management, and authentication platform services, is providing payment capabilities for,Token, a biometric identity ring that streamlines the process of authentication. Token is available for presale and will begin shipping to users in December. Token replaces the need for the majority of day-to-day credentials, including credit cards, house keys, passwords and more, while leveraging a proprietary continuous two-factor authentication method via an ultra-compact fingerprint sensor in the base of the ring and an optical proximity senso. Fit Pay will connect Token to its Trusted Payment Manager platform, which is integrated with the leading card networks, and power the digital wallet functionality within the application that supports the device.

16:09 EDT A. Schulman CEO says sales cycle 'normalized' in May - Joseph Gingo, chairman, president and CEO stated, "I am very pleased with our strong performance in Asia-Pacific, Latin America and Engineered Composites. Our consolidated results were largely influenced by two factors. In our U.S and Canada region, while operations improved, our sales and profitability are still hampered by the complexity of the business consolidation in Evansville, Indiana. In Europe, a significant mid-quarter drop in polyolefin raw material prices interrupted our sales cycle and adversely impacted profitability. We have seen our sales cycle normalize in May and continue into June."

16:06 EDT Gentherm CEO Daniel Coker begins retirement transition - Gentherm President and CEO Daniel R. Coker will retire and begin a planned leadership transition over the next several months. Coker has agreed to continue serving in his current position until the appointment of his successor. The company's board of directors is presently engaged in a comprehensive search process to select a successor. Both internal and external candidates are under consideration. Coker joined Gentherm in 1996 and has served as President and CEO since 2003. Coker is also a current member of the company's board of directors and will continue to serve in such capacity.

16:06 EDT Sarepta appoints Douglas Ingram CEO - Sarepta Therapeutics announced the appointment of Douglas Ingram as president and CEO. He will also serve on the company's board. Ingram brings to Sarepta Therapeutics more than two decades of executive leadership experience in the life sciences. As previously announced, Edward Kaye, M.D., will step down from his positions at the company, but is expected to serve the company in an advisory capacity to ensure a smooth transition.

16:05 EDT Wipro publicizes focus on local U.S. workforce amid visa uncertainty - Indian IT firm Wipro announced earlier that "locals now form over 50% of its U.S. workforce." The company noted that "over the past six months, Wipro hired over 1,600 employees by attracting and nurturing local talent... During the past decade, Wipro has invested over $2B in the United States. The company has been focused on creating jobs in the U.S. underscoring its strategy to build a deep reservoir of local talent based out of centers close to its clients. During FY16-17, over 3,000 locals joined Wipro and today, the company has a workforce of over 14,000 in the U.S. The company will continue to recruit from top universities to build on the momentum of hiring locally in the United States." The announcement comes amid potential changes in the H-1B foreign worker visa program.

16:03 EDT Bioverativ completes acquisition of True North Therapeutics - Bioverativ has successfully completed its acquisition of True North Therapeutics, a clinical-stage rare disease biotechnology company. "The acquisition advances Bioverativ's vision of becoming the leading rare disease company focused on blood disorders... We also believe it has the potential to create significant long-term value for our shareholders," the company said. With the acquisition, Bioverativ adds TNT009, a first-in-class monoclonal antibody in development for cold agglutinin disease, to its pipeline. Late-stage clinical development planning for TNT009, including a registrational program, is underway. The acquisition also includes TNT020, a discovery-stage, follow-on monoclonal antibody. Bioverativ has acquired True North for an upfront consideration of $400M plus assumed cash. True North investors are also eligible to receive additional payments of up to $425M contingent on the achievement of future development, regulatory and sales milestones.

15:57 EDT ACRE Realty Investors trading resumes

15:48 EDT Quidel receives FDA clearance, CLIA waiver for Sofia 2 instrument - Quidel Corporation announced it has received 510(k) clearance and Clinical Laboratory Improvements Amendments, or CLIA, waiver from the FDA for Quidel's Sofia RSV Fluorescent Immunoassay to be used with the Sofia 2 Fluorescent Immunoassay Analyzer for the rapid detection of respiratory syncytial virus infections in nasopharyngeal swab and nasopharyngeal aspirate/wash specimens taken directly from symptomatic pediatric patients. Sofia 2 is Quidel's next-generation version of its best-selling Sofia instrumented system. Sofia 2 received CLIA waiver for the Sofia Influenza A+B assay from the FDA in May, and is now available for sale in the U.S.

15:44 EDT Monmouth Real Estate announces acquisition in Miami MSA - Monmouth Real Estate announced the acquisition of a new 237,756 square foot industrial building located in Homestead, FL at a purchase price of $38,347,933. The property is net-leased for 15 years to FedEx Ground.

15:36 EDT ACRE Realty Investors trading halted, news pending

14:43 EDT Golden Entertainment announces approval for Illinois gaming terminal license - Golden Entertainment announced that the Illinois Gaming Board has approved the company's application for a video gaming terminal operator license. This action by the Illinois Gaming Board allows a wholly owned subsidiary of Golden Entertainment to operate VGTs in liquor licensed establishments, including bars, restaurants, truck stops and certain fraternal and veterans organizations. According to statistics provided by the Illinois Gaming Board, as of May 2017 there were over 26,000 VGTs operating in over 6,000 locations throughout the state. CEO Blake Sartini said, "Given our significant experience and success in distributed gaming operations, including our position as the largest operator in Nevada and the second largest in Montana, we believe we can help current and new establishments that feature VGTs optimize their patrons' entertainment experience. Illinois is an important and growing market for distributed gaming where we are considering both organic and acquisition opportunities to establish our presence."

14:28 EDT Hecla Mining trading resumes

14:20 EDT Sinobioway Consortium confirms Sinovac Biotech offer raised to $8 per share - Shandong Sinobioway Biomedicine Co. announced that Sinovac Biotech entered into a definitive agreement for a "going-private" transaction with Weidong Yin's consortium, or "Consortium A," which is led by Weidong Yin, the chairman, president and CEO of Sinovac, and SAIF. Sinovac's Special Committee unanimously approved the amalgamation agreement and the transactions contemplated by the agreement. Pursuant to the agreement, Weidong Yin's consortium will acquire the company for cash consideration equal to $7.00 per common share of the Sinovac. Just over 24 hours after the announcement above, Sinobioway Consortium, or "Consortium B," submitted to Sinovac's board of director and the special committee a "restate offer" and raised the consideration for privatized acquisition to $8 per share. "Consortium B is concerned that the special committee did not fully select the acquisition method or choose the highest purchase price. It even did not give Consortium B or other potential acquirer the opportunities to raise the price. The members of Special Committee have become tools to help Consortium A erode the interests of minority shareholders. To fight against this, Consortium B offers $8 in cash per Sinovac share and vows to win this transaction."

13:24 EDT Nanya Technology lowers Micron stake to 4.17% with recent sale of 11.6M shares - In a regulatory filing, Micron shareholder Nanya Technology disclosed that from June 14 to 26 Nanya sold a total of 11,614,080 shares of Micron common stock on the public market. Nanya holds a 4.17% stake in Micron, the filing shows.

13:00 EDT Best Buy to launch Amazon Alexa, Google Home 'experiences' in 700 stores - Best Buy (BBY) announced it is adding Amazon (AMZN) Alexa and Google (GOOG) Home "experiences" to roughly 700 Best Buy stores nationwide. "The new spaces begin arriving in stores next month and the rollout will be complete by the end of the year. You'll also find an enhanced online experience on BestBuy.com. These enhanced experiences are unique to Best Buy and show all the ways you can use voice technology... In collaboration with Amazon and Google, these experiences will help people understand and use this groundbreaking technology," the company said. Reference Link

12:50 EDT Twitter CEO Jack Dorsey tweets 'Screenshots in iOS 11 are really great' - Twitter (TWTR) CEO Jack Dorsey tweeted about Apple's (AAPL) new iOS 11 update: "Screenshots in iOS 11 are really great. Does a picture-in-picture thing and makes it tapable so you can markup, share, and delete." Dorsey added in a reply, "(though I can't seem to screenshot this experience to show it. Inception)." Reference Link

12:48 EDT FedEx up $1.52 to $215.85 upon resumption of trade

12:36 EDT FedEx says TNT Express virus infiltration 'could be material' - FedEx announced that the worldwide operations of its TNT Express subsidiary have been "significantly affected" due to the infiltration of an information system virus. "While TNT Express operations and communications systems have been disrupted, no data breach is known to have occurred. The operations of all other FedEx companies are unaffected and services are being provided under normal terms and conditions," the company said. It added that remediation steps and contingency plans are being implemented "as quickly as possible." FedEx explained, "TNT Express domestic country and regional network services are largely operational, but slowed. We are also experiencing delays in TNT Express inter-continental services at this time. We are offering a full range of FedEx Express services as alternatives. Updates on service availability will be provided periodically as systems are remediated. Customers seeking updated information on service availability should call TNT Express Customer Service or visit TNT Express's website at tnt.com. We cannot measure the financial impact of this service disruption at this time, but it could be material."

12:20 EDT Snap launches in-app custom filter creation - Snap announced: "Starting today, we're making it easier to design a custom Snapchat filter! Snapchatters can now create filters right in the Snapchat app, and customize them with many of the same Creative Tools available to decorate Snaps! To get started, simply tap 'On-Demand Geofilters' in Settings to check out our all-new mobile creative studio... Your Geofilter can cover an event or entire block -- for an hour or up to ninety days. Pricing starts at $5.99." Reference Link

12:02 EDT Halozyme presents Phase 2 data at Medical Oncology symposium - Results from Halozyme Therapeutics' Phase 2 randomized, multi-center clinical trial in pancreas cancer patients were shared today in two oral presentations at the European Society for Medical Oncology's 19th World Congress on Gastrointestinal Cancer. "The HALO-202 study represents the first clinical trial of a molecularly targeted drug in pancreatic ductal adenocarcinoma and the results support hyaluronan as a potential biomarker to predict those patients who could benefit from Halozyme's investigational new drug PEGPH20 when added to standard chemotherapy," the company said in a statement. As previously reported, the study met its primary efficacy and safety endpoints and the key secondary endpoint of progression-free survival in HA-High patients.

11:49 EDT Air Liquide inks new contracts in fiber optics industry in China - Over a one-year time period, Air Liquide signed new supply contracts covering a period of 10 to 15 years with three major Chinese fiber optics manufacturers. In the frame of these new contracts with Futong Group Communication Technology, Yangtze Optical Fibre, and Zhongtian Technology Fine Materials, Air Liquide will supply a total exceeding 6,000 Nm3 per hour of hydrogen and 4,000 Nm3 per hour of nitrogen, together with bulk oxygen, helium, argon and carbon dioxide. Air Liquide will thus support the further development of China's fiber optics industry. Air Liquide signed a new 10-year contract for the supply of hydrogen and nitrogen to Futong Group Communication Technology in Jiashan City, Zhejiang Province. FGCT is one of the world's largest fiber optics cable manufacturers. Two other agreements in the same field of large-scale fiber optics production were also signed with Yangtze Optical Fibre and Zhongtian Technology Fine Materials. For a 10 to 15 year duration, Air Liquide will deliver to each customer nitrogen and hydrogen on-site generator solutions, as well as bulk oxygen, helium, argon and carbon dioxide. Reference Link

11:35 EDT Pacific Crest, Craig-Hallum see promise in 'asset light' PayPal - Shares of PayPal have rallied 30% since management floated the idea of a more "asset-light" credit strategy last February, as JPMorgan analyst Tien-tsin Huang recently noted, and Pacific Crest and Craig-Hallum see reason for the stock to push its run further. POTENTIAL DOUBLE: PayPal should continue to enhance its product and its digital wallet should remain "best in class," wrote Craig-Hallum analyst Bradley Berning. As a result, the company's user growth and engagement should improve and its stock can double by 2020, the analyst stated. PayPal can also boost its growth by monetizing its Venmo offering and creating relationships with Amazon (AMZN) and banks, Berning wrote. He raised his price target on the stock to $65 from $54. ASSET LIGHT MODEL: In a note to investors yesterday, JPMorgan's Huang noted that PayPal shares have rallied 30% since management floated the idea of a more "asset-light" credit strategy last February and he estimates that a sale of the company's entire consumer credit card portfolio could net about $5.25B in cash. Such an asset-light strategy would reduce PayPal's revenue and EPS baseline by about 10%, though capital redeployment could offset much of the dilution, said Huang. A shift to an asset-light strategy would reduce earnings volatility and allow PayPal to avoid questions on the sustainability of the current multi-year positive credit cycle, the analyst said. VENMO AND CHOICE TO PAY OFF: PayPal will probably start to obtain benefits from its Choice and Venmo initiatives, Pacific Crest analyst Josh Beck wrote on June 21. Specifically, Choice could raise the company's net adds while lowering its churn and spending levels, the analyst stated. The proliferation of Venmo could lower PayPal's funding costs in the second half of 2017, he wrote. Furthermore, PayPal's "large moat" and new partners, including Alibaba (BABA), limit the threat from competitors, according to Beck. who upgraded the shares to Overweight from Sector Weight and placed a $60 price target on the stock. MIZUHO SAYS HOLD: PayPal has increased its revenue guidance for two consecutive quarters, and its fixed costs have risen by single digit percentage levels during that time, showing that it can generate operating leverage, wrote Mizuho analyst Thomas McCrohan. But the stock's valuation is "difficult to justify," especially compared with Visa (V) and MasterCard (MA), the analyst stated. Both of the latter two companies are "true networks" and are "better ways to play the convergence of digital, online commerce, and internet of things," he wrote. Moreover, PayPal probably won't be able to keep the growth of its fixed costs below 10%, since it is "an innovative technology company operating in a highly competitive industry," said McCrohan, who set a $48 price target on the shares. PRICE ACTION: In morning trading, PayPal rose 1.4% to $53.49.

11:01 EDT Southwest to consolidate Cuba service with focus on Havana - Southwest Airlines announced that it will concentrate its future service to Cuba in Havana and will cease operations in both Varadero and Santa Clara at the end of day on Monday, September 4. Southwest currently serves Havana twice daily nonstop from Ft. Lauderdale-Hollywood International Airport and once daily nonstop from Tampa International Airport and has applied with the U.S. Department of Transportation for a third daily roundtrip between Ft. Lauderdale and Havana. The carrier is reaching out to Customers who held reservations for travel involving Varadero and Santa Clara on September 5 and beyond to offer refunds of purchased tickets in those markets.

10:57 EDT Omeros lower after short report puts $1 target on shares - Shares of Omeros are moving lower after a short report by Art Doyle called the company a fraud and put a $1 price target on the shares. Omeros in morning trading s down 5% to $21.28. Reference Link

10:43 EDT Ford sees $142M cost related to Transit recall - In a regulatory filing earlier, Ford Motor said the cost of the company's field service action to correct a driveshaft issue in certain model year 2015 through 2017 Transit vans is estimated to be $142M, which will be incurred by its North America business unit. "Updates, if any, to our guidance for full-year 2017 total company adjusted pre-tax profit will be provided in connection with our earnings results for the second quarter of 2017, which will be released on July 26," Ford added.

10:32 EDT Cypress Semi climbs after Barclays gets bullish on iPhone opportunity - The shares of Cypress Semiconductors (CY) are rallying today after Barclays upgraded the stock to Overweight from Neutral, citing the belief the company's USB-C chips will be included in Apple's (AAPL) iPhone 8. The upgrade comes after research firm Craig-Hallum recommended buying the stock on weakness based on its belief that the company's revenue from Nintendo's (NTDOY) Switch console will increase by $20M this quarter. UP TO BUY: Barclays analyst Blayne Curtis estimated that Cypress would obtain $1.25 in revenue as a result of Apple's decision to incorporate one of Cypress' USB chips in each iPhone 8 device and one in the device's charger. Additionally, the revenue that Cypress obtains from its core Internet of Things business could grow more quickly than its 23%-27% guidance, the analyst stated. Finally, he expects the company's margins to continue rising going forward. Curtis placed an $18 price target on the shares. BEAT AND RAISE: Cypress' quarter ended in June will easily beat analysts' consensus estimate, partly due to a $20M increase in the company's revenue from the Switch, according to Craig-Hallum analyst Anthony Stoss. He believes that Cypress will obtain $1.50 per iPhone 8 from Apple for its USB-C chips, with the revenue starting to flow in Q3 and beginning to significantly impact Cypress' results in Q4. Stoss believes that fears of double ordering by Cypress' auto customers are overdone. He noted that Cypress said that it had "good visibility" into its orders for the second half of the year and that it expects the growth of its orders to exceed normal seasonal increases. He placed a $17 price target on the shares. PRICE ACTION: In morning trading, Cypress rose 6.5% to $14.06 per share.

10:07 EDT lululemon again the subject of private equity speculation - The early strength in shares of lululemon is being attributed by traders to renewed speculation of the company being acquired by private equity. The retailer in early trading is up 2%, or $1.01, to $56.06.

09:44 EDT Samsung to open $380M home appliance plant in South Carolina - Samsung announced that it has reached an agreement with the State of South Carolina to open a home appliance manufacturing plant in Newberry County. The $380M facility will produce some of Samsung's most popular home appliances and will generate 954 local jobs by 2020, the company noted.

09:35 EDT Adamas Pharmaceuticals appoints Alfred Merriweather as CFO - Adamas Pharmaceuticals announced the appointment of Alfred Merriweather as CFO, reporting to Gregory Went, Ph.D., Chairman and CEO, and the retirement of William Dawson, its former CFO.

09:29 EDT Banner Corp. announces special dividend of $1.00 per share - Banner Corporation, the parent company of Banner Bank and Islanders Bank, announced that its board declared a regular quarterly cash dividend of 25c per share and a special cash dividend in the amount of $1.00 per share. The dividends will be payable July 18, to common shareholders of record on July 10.

09:19 EDT General Mills targets 200-300 bps improvement in FY18 net sales trends

09:17 EDT Boeing expands responsibilities of CFO Greg Smith - Boeing announced an expansion of the enterprise responsibilities of Greg Smith, currently the company's CFO and executive vice president of Corporate Development & Strategy. Starting July 1 will serve as CFO and executive vice president of Enterprise Performance & Strategy, adding a range of duties focused on ensuring strong and consistent business performance, continued achievements in innovation and corporate functional excellence. Muilenburg added that the planned retirements later this year of Vice Chairman Ray Conner and Senior Vice President of Program Management, Integration & Development Programs Scott Fancher created a window to consolidate a range of performance-based enterprise efforts under Smith. Among the responsibilities that will shift to Smith in the months ahead are oversight of the integration and execution of the company's new three business unit strategy.

09:07 EDT General Mills says e-commerce sales up 62% in U.S. last year - Sees e-commerce as large opportunity in FY18.

09:05 EDT Fred's unanimously adopts short-term shareholder rights plan - Fred's (FRED) announced that its board of directors unanimously adopted a short-term shareholder rights plan which will expire on September 25. As a result of the recent increased trading volatility in the company's shares, and in anticipation of substantial trading activity related to the pendency of the Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) merger and the company's associated Asset Purchase Agreement with Walgreens and Rite Aid, the board unanimously adopted the Short-Term Rights Plan to ensure that the board remains in the best position to perform its fiduciary duties and enable all Fred's Pharmacy shareholders to receive fair and equal treatment. Pursuant to the Short-Term Rights Plan, the company is issuing one right for each share of common stock outstanding at the close of business on July 7. Under the Short-Term Rights Plan, the rights will generally become exercisable only if a person or group acquires beneficial ownership of 10% or more of the company's common stock. In that situation, each holder of a right will be entitled to purchase, at the then-current exercise price, additional shares of common stock at a 50% discount. Any existing shareholder or group that has beneficial ownership of 10% or more of the company's common stock will be grandfathered at its current ownership level, but the rights will become exercisable if at any time after the announcement of the Rights Plan such shareholder or group increases its ownership of the common stock. At any time after any person or group acquires beneficial ownership of 10% or more of the company's Class A common stock, the board, at its option, may exchange each right in whole or in part, at an exchange ratio of one share of Class A common stock per outstanding right.

09:02 EDT Honeywell selected by Asiana Airlines - Honeywell has been selected by Asiana Airlines to supply the required power to start an aircraft's main engines and run air conditioning while the plane is on the ground for a more comfortable passenger onboarding experience.

08:54 EDT Consolidated-Tomoka completes $3.5M land sale to NADG - Consolidated-Tomoka Land announced the closing of the sale of approximately 19.43 acres to an affiliate of North American Development Group at a sales price of approximately $3.5M, or approximately $178,000 per acre. The land is located on the east side of Interstate 95 directly adjacent to the Tanger Outlet Mall and at the north end of the approximately 37 acres that NADG acquired from the Company in late 2015 and is part of the Tomoka Town Center. In addition to the Third NADG Land Sale the company also received approximately $1M from NADG as reimbursement for the pro-rata portion of the infrastructure costs incurred by the company for the Town Center. The estimated gain on the Third NADG Land Sale, including the aforementioned reimbursement, is approximately $3.3M, or approximately 36c per share, after tax. The dompany intends to utilize the proceeds from this sale to fund a portion of the previously acquired income properties located in Brandon, Florida including a property a leased to LA Fitness through a reverse 1031 like-kind exchange structure. The closing of the Third NADG Land Sale leaves NADG with approximately 62.1 acres of additional land remaining under contract with CTO for approximately $17M, or approximately $273,000 per acre, which pursuant to the contract, is to be purchased by 2018.

08:48 EDT General Mills says expects to increase media investment in FY18 - Says cost-saving target in FY18 is $390M.

08:45 EDT General Mills says expects inventory, receivables to 'normalize' in FY18

08:41 EDT General Mills says sees FY18 category trends 'similar' to FY17 - FY18 organic net sales trends expected to improve from Q1 to Q2 and 1H to 2H. Savings from announced projects expected to be $700M, up $160M vs. last year. Sees FY18 free cash flow conversion greater than 95%. Comments from Q4 earnings conference call.

08:34 EDT Nuance comments on malware incident - Nuance indicated that on Tuesday, June 27, portions of its network were affected by a global malware incident, which also affected many other companies and organizations worldwide. As soon as the company became aware of the situation, it took measures to contain the incident and assess the extent of the impact on its network. Nuance has engaged leading security experts to assist in responding to the incident.

08:31 EDT Enzymotec CFO Oren Bryan to step down - Enzymotec announced that Oren Bryan will be stepping down from his position as Vice President and CFO in order to pursue other business interests. Bryan, who has been with the company since 2008, will remain in his position until the company appoints a successor and completes the transition.

08:18 EDT Interpace Diagnostics announces national contract with Aetna - Interpace Diagnostics (IDXG) announced that it has signed a new national contract with Aetna for its ThyGenX and ThyraMIR molecular tests for indeterminate thyroid nodules. e agreement covers many of Aetna's products, including commercial and Medicare Advantage plans. It does not include Medicaid, auto insurance, or workman's compensation products. The agreement goes into effect August 15, 2017. Aetna began covering ThyGenX in June 2015 and ThyraMIR in November 2016.

08:16 EDT Ingevity to construct activated carbon extrustion plant in China - Ingevity Corporation announced it will build a new activated carbon extrusion plant in Changshu, China, to meet growing global demand for pelletized carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The new facility will be located in Changshu city within the Jiangsu province. It is expected to be operational by the fall of 2018 and will employ about 80 people. The plant represents an investment of approximately $20M, the majority of which will be incurred in 2018. Initially, it will feature one extrusion line that produces pelletized activated carbon products. The new plant will complement the existing extrusion facility in Wuijang, China, and activated carbon plants in Zhuhai, China, Wickliffe, Ky., and Covington, Va., as well as the "honeycomb" scrubber joint venture plant in Waynesboro, Ga. The facility will be able to accommodate an additional extrusion line as demand continues to grow.

08:14 EDT Snyder's-Lance appoints Brian Driscoll as CEO - Snyder's-Lance announced that the board has appointed Brian Driscoll as its president and CEO. Driscoll has been serving as the company's Interim president and CEO since April. He was the former President and CEO of Diamond Foods and was appointed to the Snyder's-Lance board on February 29, 2016 in connection with the company's acquisition of Diamond Foods.

08:10 EDT Monro Muffler appoints Ponton to succeed Van Heel as CEO - Monro Muffler Brake announced that it has elected Brett Ponton as its next President and Chief Executive Officer. Ponton most recently served as CEO of American Driveline Systems, the parent company of AAMCO Transmissions & Total Car Care. Ponton will succeed John Van Heel, who has decided not to renew his long-term contract when it expires on October 1, 2017. Ponton will join Monro as President on August 1, and assume the CEO role on October 2. To facilitate the transition, Van Heel will serve as an advisor to Monro for six months following the end of his contract. Monro also announced the election of lead director Robert Mellor as independent Chairman of the board. Robert Gross, Executive Chairman, will retire from the board and the company at the conclusion of the annual shareholder meeting.

08:04 EDT Luminex receives CE-IVD mark for ARIES Norovirus Assay - Luminex announced that it has received CE-IVD marking for the ARIES Norovirus Assay, an easy to use, sample to answer test for rapid detection and differentiation of norovirus genogroup I and II from stool specimens of individuals with symptoms of acute gastroenteritis.

08:03 EDT MSA Safety to acquire Globe Holding Company for $215M in cash - MSA Safety announced that it has entered into a definitive agreement to acquire Globe Holding Company in an all-cash transaction valued at $215M. Based in Pittsfield, NH, Globe is a leading innovator and provider of firefighter protective clothing and boots, with annual revenue of approximately $110M and 420 employees at four U.S. locations. It is expected to be accretive to GAAP reported EPS in the first 12 months following the closing of the transaction. The transaction is expected to close in the third quarter of 2017, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals.

07:46 EDT Sinobioway proposes $8 per share takeover of Sinovac Biotech - The Shandong Sinobioway consortium has proposed to buy all outstanding ordinary shares of Sinovac Biotech at $8 per share, Sinobioway stated to the Shenzhen Stock Exchange, according to Bloomberg. The $8 per share, non-binding bid is 14.3% higher than that proposed by the consortium led by Sinovac Chairman Yin Weidong, Bloomberg noted.

07:45 EDT Kratos Defense awarded UAV contract amendment by U.S. Navy - Kratos Defense announced today that its Unmanned Systems Division, or USD, was awarded an amendment to a previously awarded contract to exercise an option for Low Rate Initial Production Year 1, or LRIP 1, from the U.S. Navy, for BQM-177A Subsonic Aerial Target (SSAT) Drone Systems. The SSAT LRIP 1 order has an initial value of $34.55M. Coincident with the LRIP 1 order, Kratos was awarded a contract to provide Contractor Logistics Support, or CLS; initial value of the CLS award is $2.54M for FY17. In addition, separate contracts for Peculiar Support Equipment, Initial Systems Spares, External Payload Systems and Flight Consumables will follow shortly. Kratos' USD is at the forefront in the design, development, demonstration and delivery of Affordable, High Performance, Jet Powered Unmanned Aerial Tactical and Target Drone Systems. The BQM-177A is one of the highest performance unmanned aerial drone systems in the world today, with unmatched flight performance characteristics in multiple key mission areas. SSAT LRIP 1, which coincides with the FY17 U.S. Department of Defense Budget, is the initial annual production order for this unmanned aerial target drone system, which recently completed development. The FY18 SSAT production order LRIP 2 is currently expected to be approximately 25 percent higher than Fiscal 2017 SSAT LRIP 1.

07:41 EDT KemPharm announces 2 advances in prodrug development pipeline for ADHD treatment - KemPharm announced two significant advances involving its prodrug development pipeline for the treatment of attention deficit hyperactivity disorder, or ADHD. These advances include the development of a new prodrug product candidate of d-threo-methylphenidate, or d-MPH, KP484, for ADHD indications that may benefit from a super-extended duration of treatment and the successful completion of an End-of-Phase 1, or EOP1, meeting with the FDA for KP415. KP484 is KemPharm's newly developed prodrug product candidate for a super-extended release, or SER, d-MPH being designed for the treatment of ADHD in patients that respond best when a long duration of therapy beyond both KP415 and all current methylphenidate treatments is required. The new therapeutic application was developed during a data analysis of the KP415 Phase 1 study, in which KemPharm observed that the prodrug molecule demonstrated an ability to produce a longer duration release of d-MPH relative to comparator products available on the market today. As a result, KemPharm is now planning to initiate development of KP484 and anticipates filing an Investigational New Drug, or IND, application for KP484 as early as the third quarter of 2017. KemPharm expects to leverage data from certain clinical and nonclinical trials of KP415 to expedite the development of KP484. KemPharm believes that this may enable it to realize key cost and R&D efficiencies and target a New Drug Application, or NDA, submission as soon as 2019. KP415 is KemPharm's extended release, or ER, d-MPH prodrug product candidate designed for the treatment of ADHD with patients that could benefit from both earlier onset as well as better total duration of effect. As previously indicated, KemPharm held an EOP1 meeting with the FDA to discuss the data from the Phase 1 proof-of-concept clinical trial of KP415, additional nonclinical and manufacturing data sets, and the proposed clinical and nonclinical programs required for eventual submission of an NDA for KP415. Additionally, KemPharm and the FDA discussed the proposed commercial formulation of KP415, which KemPharm plans to develop with a layer of methylphenidate to potentially support a superior early onset profile. Based on the feedback from the FDA, KemPharm believes that its ongoing and anticipated research of KP415, including the pivotal efficacy trial, which KemPharm plans to initiate in the second half of 2017, remains on schedule and in alignment with an NDA submission as soon as late 2018. KemPharm also anticipates that it will initiate a human abuse liability, or HAL, program of KP415 beginning in the second half of 2017 to assess the potential for the prodrug to deter intranasal, intravenous and oral abuse. KemPharm expects data from the HAL program and the ongoing pharmacokinetic studies will be available in the second half of 2017 and early 2018. KemPharm plans to utilize the data from both studies in the development KP484, as well.

07:33 EDT Omnova Solutions on track to deliver adjusted EPS growth in FY17 - During the second half of fiscal 2017, the Company expects margin expansion from continued value pricing and softening raw material costs. The Company remains on track to deliver Adjusted Diluted EPS growth in FY17 through specialties growth driven by innovative new products, the strengthened capabilities of OMNOVA's commercial team, mix improvement, and value pricing, as well as the continued benefit of cost reduction initiatives.

07:32 EDT Engility wins $119M contract for U.S. Army's Logistics Moderization Program - Engility Holdings won a $119M contract with the U.S. Army's Logistics Modernization Program. As part of the contract, Engility will support the LMP to deliver more advanced process automation, streamlined operations and improved logistics. The LMP system is used by more than 30,000 users at more than 50 Army and DOD locations and interfaces with more than 80 DOD systems. With this award, Engility will provide LMP with subject matter expertise and administrative support with program and product management, as well as technical expertise. This cost-plus-fixed-fee-contract for new and existing work, awarded in Q2, has a three-year base and a two-year option.

07:05 EDT General Mills raises dividend 2% to 49c per share - General Mills' board declared a quarterly dividend of 49c per share, payable August 1 to shareholders of record July 10. This represents an increase of 2% from the previous quarterly rate of 48c per share.

07:03 EDT Henry Schein extends agreement with Canada DENTSPLY SIRONA - Henry Schein announced that it has extended its existing agreement in Canada with DENTSPLY SIRONA to include the CEREC CAD/CAM restoration system and the Schick line of imaging sensors. This extension, which runs through December 31, 2020, builds on an agreement in which Henry Schein's Canadian dental subsidiary agreed to carry the entire DENTSPLY SIRONA product line with the exception of CEREC and Schick. With this new agreement, Henry Schein Canada will represent the entire DENTSPLY SIRONA product line, effective September 1. The revised agreement is expected to be neutral to Henry Schein's EPS in 2017 and accretive thereafter.

07:01 EDT Fluor signs MOU with Saudi Arabian Mining - Fluor announced that it has signed a memorandum of understanding, or MOU, with Saudi Arabian Mining Company, or Ma'aden, to support future Ma'aden projects located within and outside the Kingdom of Saudi Arabia. Under the MOU, Fluor would be considered for conceptual; pre-front-end engineering and design, or FEED; FEED; engineering, procurement and construction management; and program management contracting services for future projects.

06:45 EDT AirMedia enters into amendment to merger agreement for going private deal - AirMedia announced that on June 28, 2017, it entered into Amendment No. 3 to the Agreement and Plan of Merger to amend that certain Agreement and Plan of Merger, dated September 29, 2015, as amended, by and among the company, AirMedia Holdings and AirMedia Merger Company Limited, a wholly owned subsidiary of Parent. The special committee of the board of the company received a proposed amendment to the Merger Agreement from Herman Guo Man, Ms. Dan Shao and Mr. Qing Xu on May 23, 2017 to acquire all of the outstanding shares of the company not already owned by the Buyer Group for $4.00 per American Depositary Share or $2.00 per ordinary share in cash, and extend the Termination Date to December 31, 2017. The Special Committee is evaluating the Revised Proposal with the assistance of its financial and legal advisors. Under the terms of the Merger Agreement, either the company or Parent could terminate the Merger Agreement if the merger contemplated by the Merger Agreement has not been completed by June 30, 2017. The Merger Agreement Amendment No. 3 extends the Termination Date to July 31, 2017 so as to give the Special Committee sufficient time to consider the Revised Proposal. The Special Committee cautions the company's shareholders and others considering trading in the company's securities that no decision has been made by the Special Committee or the board with respect to the Revised Proposal. There can be no assurance that any definitive offer will be made or any agreement will be executed with respect to the Revised Proposal or that this or any other transaction will be approved or consummated.

06:02 EDT First Potomac to be acquired by Government Properties in $1.4B deal - First Potomac Realty Trust (FPO) announced that it has entered into a definitive merger agreement with Government Properties Income Trust (GOV) under which GOV will acquire all of the outstanding shares of First Potomac. The transaction, which is valued at $1.4B, including the assumption of debt, is expected to close prior to year end 2017. Under the terms of the agreement, First Potomac shareholders will receive $11.15 in cash per share at the close of the transaction. This represents a premium of approximately 9.3% to First Potomac's 30-trading day Volume Weighted Average Price ended April 24, the last trading day before media speculation regarding a potential sale of First Potomac. The transaction is subject to customary closing conditions, including approval by First Potomac shareholders at a special meeting. The Board of Trustees of First Potomac has unanimously approved the merger agreement and has recommended approval of the merger by First Potomac's shareholders

05:42 EDT Alibaba to invest $1B in Lazada Group, increases stake to about 83% - Alibaba announced that it will invest approximately $1B to increase its stake in Lazada Group, the leading e-commerce platform in Southeast Asia, from 51% to approximately 83%. This transaction demonstrates the continued success of Lazada's business, Alibaba's confidence in the growth potential of the Southeast Asian markets and its commitment to the region as part of its global strategy. Alibaba will purchase the shares of certain Lazada shareholders at an implied valuation of $3.15B for the company, reflecting a significant increase in the value of Lazada since Alibaba first acquired its majority stake in April 2016. The transaction will increase Alibaba's total investment in Lazada to over $2B. Lazada will continue to operate under the same brand following this investment.

05:37 EDT CME Group obtains regulatory clearance to launch OTC FX options clearing - CME Group announced it has received regulatory clearance from the Commodity Futures Trading Commission, or CFTC, to provide clearing services for over-the-counter FX options. The initial launch will include cash-settled OTC FX options with up to a two-year expiration in seven major currency pairs, including AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY, and EUR/GBP.

05:31 EDT Philips to acquire Spectranetics for $38.50 per share in cash