Stockwinners Market Radar for June 29, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:19 EDT Nike global futures orders ex-currency 0%, Bloomberg says

17:57 EDT Instagram introduces tools to block abuse, spam - Facebook's Instagram announced: "Today, we're introducing two new tools to help keep Instagram a safe place for self-expression -- a filter to block certain offensive comments and a spam filter in nine languages. These tools are the next step in our commitment to foster kind, inclusive communities on Instagram." Reference Link

17:41 EDT Nike sees FY18 North America sales increasing

17:38 EDT ACRE Realty Investors receives delisting notice from NYSE - ACRE Realty Investors has received notice that the NYSE has determined to immediately suspend trading in the company's common stock and commence proceedings to delist the company's common stock. The company closed the previously announced sale of its Highway 20 land parcel, the company's sole remaining land asset, for a sale price of $4.73M. On October 13, 2016, the company reported that it had entered into a sales contract with Roberts Capital Partners, a Georgia limited liability company, pursuant to which the company agreed to sell to Roberts the company's Highway 20 land parcel in Cumming, Georgia. In its decision to commence delisting proceedings, the NYSE cited a section of the Company Guide which applies when a company has sold or otherwise disposed of its principal operating assets, or has ceased to be an operating company. The company does not intend to exercise the right to a review of the NYSE's determination. The company's board has determined that it is in the best interests of the company's shareholders for the company to dissolve, liquidate and distribute to shareholders its available assets, subject to shareholder approval. As a result of the sale of the Highway 20 Property, the company has approximately $19.8M of cash and cash equivalents. The company expects to distribute the remaining amount of such cash after payment of all of its operating expenses.

17:38 EDT Illumina announces FDA-approved next-generation sequencing kit - Illumina announced its Extended RAS Panel, an FDA-approved next-generation sequencing kit that meets the newly published guidelines for evaluation of colorectal cancer from the American Society for Clinical Pathology, the College of American Pathologists, the Association for Molecular Pathology, and the American Society of Clinical Oncology. This kit is intended to be used on the Illumina MiSeqDx System and enables U.S. laboratories to help clinicians identify which patients are eligible for treatment of metastatic colorectal cancer with Vectibix. The Extended RAS Panel will begin shipping in Q3 2017.

17:33 EDT Amgen says FDA approves of Vectibix for use in wild-type RAS colorectal cancer - Amgen announced that the FDA has approved the supplemental Biologics License Application for Vectibix for patients with wild-type RAS metastatic colorectal cancer as first-line therapy in combination with FOLFOX and as monotherapy following disease progression after prior treatment with fluoropyrimidine, oxaliplatin, and irinotecan-containing chemotherapy. Vectibix is the first-and-only fully human monoclonal anti-epidermal growth factor receptor antibody approved by the FDA for this patient population. As part of this new indication, the FDA approved the first multigene, next-generation sequencing-based test to identify the RAS mutation status of a patient's tumor. Next-generation sequencing is a novel diagnostics test technique that makes a more personalized medicine approach possible. This companion diagnostic helps physicians identify patients that are more likely to benefit from treatment with Vectibix.

17:24 EDT Nike enters deal to sell products on Instagram - Nike (NKE) says plans to put "limited" products on Amazon (AMZN). Says Women's business showing "tremendous growth," having outpaced Men's over the past year. Says entering deal to sell products on Instagram (FB) app.

17:15 EDT Semtech to acquire AptoVision for $28M - Semtech signed a definitive agreement to acquire AptoVision Technologies, a privately-held provider of uncompressed, zero-frame latency, Video over IP solutions addressing the Pro AV market. The acquisition is expected to add over 30 employees based in Montreal. AptoVision's CEO, Kamran Ahmed, will join Semtech reporting to Gary Beauchamp, Executive VP and General Manager of Semtech's Signal Integrity Products Group. Under the terms of the purchase agreement, Semtech will acquire the outstanding equity interests of AptoVision for a cash purchase price of $28M and additional contingent consideration of up to $47M subject to achieving certain future financial goals. Semtech expects to fund the purchase price using its current cash assets. The acquisition is expected to close during the company's current fiscal quarter. Semtech does not expect the acquisition to have any material impact to the financial outlook for 2Q18. The company expects the deal to be neutral to FY18 non-GAAP EPS and to be accretive to its FY19 non-GAAP EPS.

17:10 EDT Amherst sells 751-home portfolio to Altisource Residential for $117M - Amherst Holdings announced that its Single Family Residential platform has sold a portfolio of 751 single family rental properties to Altisource Residential LP, an operating partnership controlled by Altisource Residential, for a total sale price of $117.1M. The transaction represents Amherst's second closing with Altisource Residential as part of a March agreement to sell Altisource Residential up to 3,500 single family rental properties this year. Under the terms of the agreement, Altisource Residential has purchased a fee simple interest in the portfolio of properties, and Amherst-sponsored entities are providing seller financing equal to 75% of the sale price. Amherst will remain the property manager for the portfolio through its subsidiary, Main Street Renewal.

17:05 EDT EnLink Midstream companies move headquarters to Dallas Arts District - EnLink Midstream Partners LP (ENLK) and EnLink Midstream (ENLC) moved company headquarters to One Arts Plaza in the Dallas Arts District this week. "The move is a result of significant company growth and accommodates for future growth," the companies said.

17:02 EDT Magna establishes automatic share repurchase plan - The company said, "Magna announced that it has established a pre-defined automatic securities purchase plan with a designated broker to facilitate the repurchase of our Common Shares under our current normal course issuer bid. The Plan has been reviewed by the Toronto Stock Exchange and will be implemented effective July 3, 2017. Under the Plan, Magna has provided instructions and strict parameters regarding how its Common Shares may be repurchased during times when it would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods. We impose regular blackouts during the period commencing at 11:59 p.m. of the last day of each fiscal quarter to and including 48 hours after the public announcement of our quarterly or annual financial results. The Plan will terminate on the earliest of the date on which: (a) the purchase limit specified in the Plan has been reached, (b) we terminate the Plan in accordance with its terms, in which case we will issue a press release confirming such termination, and (c) the Bid terminates. Under the Bid, which commenced on November 15, 2016 and which terminates on November 14, 2017, we are authorized to repurchase up to 38M Common Shares. All purchases of Common Shares under the Bid may be made: (i) on the TSX in accordance with the rules and policies of the TSX, (ii) on the New York Stock Exchange in compliance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, (iii) on other published markets, and/or (iv) pursuant to private agreements negotiated by Magna and arm's length third-party sellers under issuer bid exemption orders granted to Magna. All such repurchases are included in computing the number of Common Shares purchased under the Bid. As of June 28, 2017, the Corporation has repurchased 12,462,373 Common Shares under the Bid."

16:56 EDT West Marine to be acquired by Monomoy Capital for $12.97 per share - West Marine and Monomoy Capital Partners announced that they have executed a definitive merger agreement under which a wholly owned affiliate of Monomoy will acquire all of the outstanding shares of common stock of West Marine at $12.97 per share in cash, which represents a total equity value of $338M. This price represents a premium of 32% over the 30-day average performance of West Marine's stock price reported on NASDAQ. Company founder and board member, Randy Repass, has entered into a voting agreement whereby he and his affiliated entities over which he has sole or shared voting have agreed to vote shares representing approximately 20% of the company's voting power in favor of the transaction. Following the close of the transaction, West Marine will be privately held and continue to be operated independently by the company's management team. The transaction, which has been unanimously approved by West Marine's Board of Directors, is expected to close in the third quarter of this year, subject to West Marine's stockholder approval and other customary closing conditions.

16:52 EDT West Marine trading halted, news pending

16:40 EDT Engaged Capital says held talks with Hain, submitted seven board nominees - In its stake filing reporting a 9.9% position in Hain Celestial, Engaged Capital said: "The Reporting Persons have engaged, and intend to continue to engage, in communications with the Issuer's Board and management team regarding means to create stockholder value... The Reporting Persons have had and may continue to have discussions with the Issuer regarding the nomination of candidates for election to the Issuer's Board of Directors and have submitted seven candidates for election to the Board at the next Annual Meeting."

16:35 EDT Orion Engineered says two directors resign, Marc Faber appointed to board - Orion Engineered Carbons announced that on June 28, Claus von Hermann and Andrew Sweet resigned as directors. The resignations reflect the reduced shareholdings of Kinove Luxembourg Holdings 1 Sarl in the company after the secondary offering carried out at the end of March, the company said. On June 29, the board appointed Marc Faber as a director to fill one of the vacancies.

16:34 EDT Ashford Hospitality sells Crowne Plaza Ravinia for $88.7M - Ashford Hospitality has completed the sale of the 495-room Crowne Plaza Ravinia in Atlanta, Georgia for $88.7M, or $179,000 per key. The sales price represents a trailing 12-month cap rate of 5.6% on net operating income and a trailing 15.3x EBITDA multiple. The hotel had an existing allocated debt balance of approximately $65.6M that was paid off along with an additional $13.1M of debt pay down used to release the asset from the loan pool. After debt payoff and transaction costs, the net proceeds were approximately $9M. Based upon the prior 12-month period, the Crowne Plaza achieved RevPAR of $84 with occupancy of 71% and Average Daily Rate of $119.

16:32 EDT Franklin Covey sees 'strong' Q4 results, warns on AEBITDA - "The Company anticipates a strong financial result in Q4, and therefore expects Adjusted EBITDA for FY17 to be equal to, or slightly below, the previously released guidance range of $10M-$14M. The Company's original guidance for Q4 was $14M of Adjusted EBITDA, and that deferred revenue, less 15% for deferred costs, would increase by more than $13.5M. The Company still expects the change in deferred revenue, less deferred costs, to increase by $13.5M and expects Adjusted EBITDA to be close to the guidance of $14M, contingent upon the mix of sales in Q4. The Company's year-to-date Adjusted EBITDA is within $0.3M of guidance. The year-to-date change in deferred revenue, less deferred costs, while significant, is $3.7M less than previously released guidance. While the Company anticipates a strong Q4 result, it is possible, but unlikely, that this deficit can be completely overcome for the year," Franklin Covey said.

16:31 EDT GenMark achieves CE Mark for ePlex BCID-GP Panel - GenMark Diagnostics announced it has achieved CE Mark under the European In-Vitro Diagnostic Devices Directive for its ePlex Blood Culture Identification Gram-Positive Panel and its Blood Culture Identification Gram-Negative Panel. BCID-GP and BCID-GN complete the ePlex family of sepsis panels, which also includes the BCID Fungal Pathogen Panel that achieved CE Mark in April 2017.

16:24 EDT Micron sees CY17 DRAM industry bit supply growth 15%-20% - Says expects to achieve meaningful NAND, DRAM output by end of FY17. Says progressing with development of third generation 3D NAND and 1y DRAM. Sees NAND industry bit supply growth of high-30% to low-40$ in CY17. Sees healthy industry demand persisting into 2018. Comments taken from slides to be presented on Q3 earnings conference call.

16:23 EDT Prologis partners with Plug and Play to support startups - Prologis announced a strategic partnership with Plug and Play, a global startup ecosystem and venture fund specializing in the development of early-to-growth stage technology startups in the Supply Chain and Logistics vertical. Prologis will provide mentorship and space in its logistics real estate properties to a select group of startups in the Plug and Play accelerator program to pilot new technologies. Prologis joins DHL, Maersk, Panasonic, Hitachi, Mann+Hummel, CMA CGA, Daimler, Deutsche Bahn, Swiss Post, BASF, Union Pacific Railroad and Ericsson as partners with Plug and Play.

16:22 EDT American Outdoor Brands down 6% after weak Q1, FY18 guidance - In after-hours trading, shares are down 6.22% to $22.45.

16:21 EDT Enterprise Products announces Orla II plant in West Texas - Enterprise Products Partners L.P. announced that the company is adding 300M cubic feet per day of incremental capacity at its cryogenic natural gas processing facility currently under construction near Orla, Texas in Reeves County. Orla II, a second processing train at the facility, will double the inlet capacity of the facility to 600,000 MMcf/d and increase extraction of natural gas liquids from 40,000 barrels per day to 80,000 BPD. NGLs from Orla will be delivered into Enterprise's fully integrated NGL system, including the recently announced Shin Oak Pipeline. The Shin Oak Pipeline is a 24-inch NGL pipeline that will originate at the partnership's Hobbs NGL fractionation and storage facility in Gaines County, Texas and will transport Permian Basin NGLs to the partnership's Mont Belvieu NGL complex. Shin Oak will have an initial capacity of 250,000 BPD and will be expandable to 600,000 BPD. Orla's residue natural gas volumes will be transported to the Waha area through Enterprise's Texas Intrastate system. The Orla II expansion project is designed to support the continued growth in NGL-rich natural gas production from the Delaware Basin of West Texas and southeastern New Mexico and is supported by long-term commitments. The expansion of the Orla facility will bring the partnership's total natural gas processing capacity to more than 1B cubic feet per day of processing capacity and more than 150,000 BPD of NGL extraction capacity in the Permian Basin. The Orla II capacity is expected to be available in the third quarter of 2018.

16:20 EDT Harsco division receives 'significant' order - Harsco Corporation's railway track maintenance division, Harsco Rail, announced a significant new order for seven Stoneblower track geometry machines to Harsco Rail Ltd. from Network Rail, the owner and manager of the mainline railway infrastructure in Great Britain. The order calls for deliveries over two years starting in late 2019, where they will succeed a fleet of retiring Stoneblower units that have logged more than two decades of service for Network Rail.

16:18 EDT PolyOne to divest DSS business to Arsenal Capital for $115M - PolyOne announced it has entered into a definitive agreement whereby the company will sell its Designed Structures and Solutions business, which includes sheet, rollstock and packaging assets, to Arsenal Capital Partners for $115M. The sale of DSS is subject to satisfaction of regulatory requirements and other customary closing conditions, which the company expects to be completed in the third quarter of 2017. Proceeds from the sale will be used to pay down short term borrowings and fund ongoing growth initiatives. In accordance with US GAAP, the DSS business will be classified as "held for sale" and be reported as discontinued operations. Accordingly, the company will be required to record the assets related to the DSS business at fair value, less an amount of estimated sale costs. The company anticipates this will result in an after-tax charge of $220M in the second quarter.

16:17 EDT Universal Stainless & Alloy rejects unsolicited offer from Synalloy - Universal Stainless & Alloy Products (USAP) announced that its board, after deliberation and careful consultation with its independent financial and legal advisors, unanimously rejected an unsolicited offer by Synalloy Corporation (SYNL) for a proposed business combination. The Universal Stainless board determined that Synalloy's unsolicited offer has no merit, either financial or strategic, for the stockholders of Universal Stainless and that it does not see a basis for further discussions with Synalloy regarding the unsolicited offer at this time.

16:09 EDT Aduro initiates Phase 2 clinical trial of CRS-207 in combination with Keytruda - Aduro Biotech announced the initiation of the Phase 2 clinical study designed to evaluate the tolerability, safety and efficacy of CRS-207, Aduro's lead listeria-based immunotherapy construct, in combination with Keytruda, an anti-PD-1 therapy marketed by Merck, for the treatment of patients with gastroesophageal adenocarcinoma who have failed two prior chemotherapy treatments. Clinical trial sites have been activated and the study is open for enrollment.

16:07 EDT Cara annoucnes top-line results from Phase 2b trial of oral CR845 - Cara Therapeutics announced top-line results from a Phase 2b trial of an oral tablet formulation of the company's peripherally selective kappa opioid agonist, CR845, in patients with osteoarthritis of the knee or hip. Patients with OA of the hip maintained on the 5.0 mg dose to the end of the eight-week treatment period exhibited a statistically significant 39% reduction in mean joint pain score; all patients maintained on the 5.0 mg dose to the end of the eight-week treatment period exhibited a 35% reduction in mean joint pain score. All tablet strengths were generally well tolerated with no drug-related serious adverse events. Dr. Ajay D. Wasan, M.D., M.Sc., Professor of Anesthesiology and Psychiatry, Vice Chair for Pain Medicine, Department of Anesthesiology, University of Pittsburgh Medical Center, said, "The magnitude of the reduction in mean joint pain scores observed in all patients in this trial together with an encouraging safety profile underscores the significant potential of CR845 as a new therapeutic approach for the treatment of chronic inflammatory pain."

16:07 EDT Christopher & Banks says COO, CFO Michielutti resigns - Christopher & Banks announced that Pete Michielutti, Executive Vice President, Chief Operating Officer and Chief Financial Officer has resigned effective July 14 to accept another opportunity. The company will be commencing a search for his successor immediately.

16:06 EDT Ichor Holdings says CFO Carson to retire - Ichor Holdings announced the planned retirement of its President and Chief Financial Officer, Maurice Carson. Carson notified the company of his intention to retire later this year. The company has commenced a search for a new Chief Financial Officer. Carson will continue to serve in his current capacity, and on the Board of Directors, until his replacement is hired, after which he will consult with the company through the transition of his role and responsibilities to his successor.

16:04 EDT Matson increases quarterly dividend 5.3% to 20c per share - Matson declared a Q3 dividend of 20c per common share. The dividend represents a 1c increase, or 5.3%, over the previous quarter's dividend and will be paid on September 7 to all shareholders of record as of the close of business on August 3.

16:02 EDT Alkermes says 'ENLIGHTEN-1' study meets primary goal - Alkermes announced "positive" preliminary topline results from ENLIGHTEN-1, the first of two key phase 3 studies in the ENLIGHTEN clinical development program for ALKS 3831, an antipsychotic drug candidate for the treatment of schizophrenia. ENLIGHTEN-1 evaluated the antipsychotic efficacy, safety and tolerability of ALKS 3831 compared to placebo over four weeks in 403 patients. The study also included a comparator arm of olanzapine, an established atypical antipsychotic agent. The study met the prespecified primary endpoint, with ALKS 3831 demonstrating statistically significant reductions from baseline in Positive and Negative Syndrome Scale scores compared to placebo. Data from the study also showed that olanzapine achieved similar improvements from baseline PANSS scores, compared to placebo. The study also met its key secondary endpoint of improvement on the Clinical Global Impression - Severity scale for ALKS 3831 versus placebo. Overall, 91% of patients who received ALKS 3831 completed the study, compared to 89% of patients who received olanzapine and 83% of patients who received placebo. The most common adverse events for both the ALKS 3831 and olanzapine treatment groups were weight gain, somnolence and dry mouth. Alkermes will present comprehensive data from the ENLIGHTEN-1 study at an upcoming medical meeting and submit the results for publication in a peer-reviewed journal. ENLIGHTEN-2, a six-month phase 3 study evaluating the weight gain profile of olanzapine compared to ALKS 3831, is ongoing with data expected in 2018.

15:58 EDT Pathfinder Bancorp raises quarterly dividend to 5.25c per share - Pathfinder Bancorp announced it has declared a cash dividend of 5.25c per share on the company's common stock relating to the fiscal quarter ending June 30. The dividend will be payable to all shareholders of record on July 14 and will be paid on August 4. The figure compares to the bank's previous 5c dividend.

15:21 EDT Before the Move: Watch Amazon into 2017 Prime Day - Amazon (AMZN) has set July 11 as this year's "Prime Day," its one-day shopping event for premium members that could lift mindshare -- and stock prices -- for the ecommerce leader. AMAZON SETS JULY 11 AS PRIME DAY: Amazon announced Thursday that its third annual Prime Day will be July 11, offering "hundreds of thousands" of deals exclusively for Prime members in 13 countries. New this year, members can enjoy 30 hours of deals starting at 9:00 pm ET on July 10, and the company will feature an expanded selection of "Alexa-exclusive" deals for members with an Amazon Echo or Fire device. "Our members love Prime Day and we have been thrilled by the response over the last two years. It is inspiring us to make it even better this year for Prime members," remarked Amazon Prime VP Greg Greeley. DEUTSCHE BANK PREVIEW: Previewing Prime Day in a research note Wednesday, Deutsche Bank's Lloyd Walmsley highlighted the "resounding success" of the past two years and urged investors interested in tracking the event to watch both the limited financial disclosures from Amazon itself as well as third-party metrics from ChannelAdvisor and comScore. The analyst noted that Amazon is requiring retailers to hold greater inventory for this year's event -- potentially lifting sales -- and that interest in Prime trial subscriptions around the event should let the company "aggressively promote" the service in 2017. Turning to the event's business case, Walmsley sees "muted" significance to Q3 revenue, saying 2016 Prime Day likely accounted for just 3% of volume for the year, though it nevertheless represents a catalyst for further increasing ecommerce mindshare and Prime subscription numbers. Notably, the analyst reminded investors that, in 2015, Amazon shares outperformed the S&P by six percentage points between the Prime Day announcement and the event itself, though that effect wasn't seen in 2016. RETAIL KNOCK-ON EFFECT: Deutsche Bank's Walmsley also noted that select retailers could respond with their own promotions, though he cautioned that Wal-Mart (WMT), JCPenney (JCP) and Macy's (M) ran just "some" promotions last year while Target (TGT) stayed out of the fray. Separately, Stefan Weitz of ecommerce solutions firm Radial said in a CNBC interview that "we're seeing a Prime Day bump for retailers other than Amazon. Retailers are getting a bump from this artificial buying holiday." Weitz added that many customers will still "cross-shop" to ensure Prime Day deals really are deals, creating an opportunity for other companies to "win some business." PRICE ACTION: Shares of Amazon (AMZN) are down about 1.5% to $975.13 in afternoon trading, in-line with the Nasdaq's slump. The ecommerce leader is down just over 2% over the past month. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

14:51 EDT Cabela's jumps 2% after report that FTC staff inclined to approve Bass Pro deal

14:01 EDT Lockheed Martin Ventures makes investment in Terran Orbital - Lockheed Martin Ventures said it is making a strategic investment in Terran Orbital, what it calls an "expert in nanosatellite design, development, manufacturing, testing and launch." It added, "The investment will create opportunities for the companies to share their expertise and customer relationships to advance this emerging technology." The agreement includes cash and in-kind investments for an equity stake in Terran. Lockheed Martin has partnered with Terran in the past on Department of Defense and NASA missions. This investment will allow for an expansion of that relationship.

13:39 EDT Amec Foster Wheeler to retain European nuclear unit, proceed with NA sale - Amec Foster Wheeler announced in an update with the London Stock Exchange: "On 2 March, Amec Foster Wheeler announced it had launched a competitive process to sell its nuclear business. This process created a high level of interest and yielded a number of attractive bids. In consultation with the board of John Wood Group, the Board of Amec Foster Wheeler has decided to retain the European nuclear business, and to proceed only with the disposal of the North American business. Completion of this disposal is expected later this year." Reference Link

13:34 EDT Abbott announces Health Canada license for FreeStyle Libre System - Abbott announced the Health Canada license of its FreeStyle Libre Flash Glucose Monitoring System. Abbott's Freestyle Libre system is expected to be available in Canada in the coming months, the company said.

13:28 EDT James E. Flynn reports 6.97% stake in Proteon Therapeutics

12:52 EDT Aetna to move headquarters to New York City - Aetna announced that, beginning in late 2018, its corporate headquarters will be located in New York City. The move will have "minimal" impact on Aetna's Connecticut-based associates, the company said, adding that it "remains committed" to its Hartford campus and the thousands of associates based there. Several of Aetna's key businesses will remain primarily based in Hartford, and the Consumer Health & Services team will continue to operate out of Wellesley, Massachusetts. "Aetna's long-term commitment to Connecticut will be based on the state's economic health. The company remains hopeful that lawmakers will come to an agreement that puts Connecticut on sound financial footing," the company commented. Reference Link

12:31 EDT Synalloy takes 3% stake in Universal Stainless & Alloy, submits merger proposal - Synalloy (SYNL) announced it has acquired a 3% ownership position in Universal Stainless & Alloy Products (USAP) and has presented the Universal Stainless board with an initial proposal to merge the two companies. The Universal Stainless board responded to the Synalloy merger proposal by stating that pursuit of a business combination with Synalloy was "not in the best interest of the company and its shareholders." According to Synalloy, the reasons given for rejecting the proposal were: The exchange ratio proposed by Synalloy; the existence and value of synergies between the two companies has been overstated; and the use of a sale-leaseback in the transaction is unacceptable. Synalloy CEO Craig Bram commented, "A combination of Synalloy and Universal Stainless offers immediate as well as future value... The elimination of duplicative corporate overhead and related public company costs is estimated at $3M annually... Synalloy is open to discussing the exchange ratio, but we are confident that the synergies that can be realized from a merger go well beyond the elimination of duplicative corporate overhead. As to the comments on the sale-leaseback, we believe there are more effective uses of capital than owning manufacturing real estate. Our proposal would have Universal Stainless shareholders receiving a cash payment equal to about 60% of the sale-leaseback proceeds, with the balance used to retire debt."

12:26 EDT Synalloy takes 3% stake in Universal Stainless & Alloy, submits merger proposal

12:17 EDT Patheon to invest $45M in expanding key service areas - Patheon announced it expects to invest approximately $45M at key sites across its global network to meet "growing customer demand" for expanded service capabilities. Specifically, the company's recently acquired site located in Florence, South Carolina, will be adding commercial spray drying capabilities. At the Bend, Oregon, site the company plans to expand existing development SDD capabilities with a new cGMP analytical lab, manufacturing suite and additional development scale spray drying. Patheon has invested in a new commercial sterile product manufacturing facility in its Monza, Italy, site, and it plans to expand its sterile product Pharmaceutical Development Services at the Monza facility. Patheon will also expand its packaging and serialization capabilities at its Greenville, NC site, the company said. "As outsourcing of Pharma development and manufacturing services continues to grow, our customers will need even more advanced technologies and customized solutions," the company remarked.

11:22 EDT Returning to profitability 'most important' goal for Sears, Berkowitz says

11:17 EDT Real estate value the 'margin of safety' in Sears investment, Berkowitz says - Bruce Berkowitz, Fairholme Capital Management's Founder and Chief Investment Officer, is speaking on a conference call regarding his investment in Sears (SHLD) and related companies.

11:13 EDT Bombardier says Transportation restructuring costs included in previous guidance - As part of the global transformation that Bombardier announced in October 2016, the management and employee representatives of Bombardier Transportation have agreed on an outline for the reorientation and safeguarding of the German sites. The cornerstones of this outline were mutually accepted at today's Supervisory Board meeting. This modernisation and specialisation of the sites will involve some personnel adjustments. Based on current assumptions and depending on market development and order intake, manpower adjustments of up to 2,200 positions, of which 700 temporary positions, will be made gradually until 2020. In connection with those organizational changes, Bombardier will record restructuring charges, to be reported as special items, which are included in the previously disclosed restructuring charges anticipated for 2017.

11:06 EDT IGN, Twitter partner for global live stream of San Diego Comic-Con - J2 Global's (JCOM) IGN Entertainment announced its extended collaboration with Twitter (TWTR) as their official livestream broadcast partner for the 2017 Comic-Con Expo in San Diego, California. Coming off a week of E3 Live coverage on Twitter that saw an average of 2.6M unique viewers per day, IGN Entertainment and Twitter now set their sights on San Diego Comic-Con, the country's largest entertainment conference dedicated to the television, movie and comic industries. IGN's coverage at SDCC 2017 will air July 19 to July 22, live from the SDCC show floor located within the San Diego Convention Center, IGN's Hard Rock Hotel production space and throughout San Diego's historic Gaslamp District. Entertainment fans will receive up to 13 hours of live coverage and IGN's livestream will be available worldwide to Twitter's logged-in and logged-out audience on Twitter and connected devices. The live stream will be available globally at comiccon.twitter.com and on @IGN. IGN Live from SDCC will also include opportunities for advertisers, including packages with television style mid-roll spots, combined with original clips produced by IGN, available for sponsorship and promotion on Twitter.

11:00 EDT Pure Cycle to sell lots at Sky Ranch property to KB Home, Taylor Morrison - Pure Cycle (PCYO) announced that the company's wholly owned entity entered into purchase and sale contracts with each of Richmond American Homes of Colorado, KB Home (KBH), and Taylor Morrison (TMHC). Each purchase and sale contract provides that PCY Holdings will sell, and the Builder will purchase, a certain number of platted single-family, detached residential lots at the Sky Ranch property, located in unincorporated Arapahoe County, Colorado, approximately four miles north of the Lowry Range. The closing of the transactions is subject to customary closing conditions, including, among others, the Builder's completion to its satisfaction of a title review and other due diligence of the property. The Richmond and Taylor Morrison contracts contemplate the sale of platted lots and PCY Holdings entering into a Lot Development Agreement with each builder whereby PCY Holdings will construct certain insfrastructure improvements for the lots. The KB Home Agreement contemplates the sale of finished lots to KB Home.

10:51 EDT Groupon rises as Street highlights international opportunity, takeover potential - Research firm B. Riley upgraded Groupon (GRPN) to Buy from Neutral, saying that the company's investments in acquiring new North American customers is starting to bear fruit while its international operations alone could be worth at least $1 per share if it is sold. Earlier this week, another research firm, Piper Jaffray, wrote that the stock was "trading well below fair value" and suggested there is a chance that the company could be bought by IAC (IAC). RILEY UPS TO BUY: B. Riley analyst Sameet Sinha wrote that Groupon's overseas business could be worth at least $1 per share if the company is sold. Moreover, the company's investments in obtaining new customers in North America are starting to generate returns, the analyst stated. Additionally, after Groupon increased its spending on marketing, its profitability and expansion efforts are "balanced," said Sinha, who raised his price target on the shares to $5.50 from $4.20. PIPER SEES TAKEOVER POTENTIAL: Groupon is "trading well below fair value" and can rally as the growth of its local billings accelerate, wrote Piper analyst Samuel Kemp. The company's billings rate, excluding the impact of acquisitions, can continue to grow at least 10% into the second half of 2017, partly due to its marketing efforts, the analyst stated. Groupon's cost controls should enable its earnings before interest, taxes, depreciation and amortization to exceed expectations, according to Kemp. Additionally, after IAC CEO Joey Levin joined Groupon's board, Kemp believes that the Internet conglomerate could look to buy Groupon. The analyst kept a $5.50 price target and an Overweight rating on the stock. PRICE ACTION: In morning trading, Groupon rose over 5% to $3.62 per share.

10:37 EDT Block says Prothena insiders own close to 0% - Carson Block of Muddy Waters is speaking on Bloomberg TV.

10:36 EDT Block says Street 'overly bullish by a lot' on Prothena's NEOD001 - Carson Block of Muddy Waters is speaking on Bloomberg TV.

10:32 EDT Block questions whether Prothena's NEOD001 is efficacious - Carson Block of Muddy Waters is speaking on Bloomberg TV.

10:28 EDT BP exits non-competitive assets in exploration portfolio - As part of the ongoing portfolio evaluation, BP (BP) has decided to relinquish its 50% interest in Block 24/11 offshore southern Angola. Katambi, a gas discovery made in the block in 2014, has not been determined to be commercial. As a result of this and other exploration write-offs in Angola, BP expects to include in its Q2 results a non-cash exploration write-off in Angola of around $750M, which will not attract tax relief. This will not impact cash flow as part of re-balancing BP. In October 201, BP announced that it would not continue frontier exploration in the four blocks it operated in the Great Australian Bight, offshore southern Australia. BP and partner Statoil have now signed a swap agreement where Statoil (STO) has taken full ownership and operatorship of two of the blocks. BP is proceeding to discuss with the Australian government exiting its blocks. This is not anticipated to impact Q2 results. Reference Link

10:13 EDT Blue Apron CEO says company ready to go public, but didn't 'need' IPO to be now - Blue Apron CEO Matt Salzberg is being interviewed on CNBC.

09:48 EDT Microsoft to acquire Cloudyn, terms not disclosed - Microsoft has signed a definitive agreement to acquire Cloudyn, a company that helps enterprises and managed service providers optimize their investments in cloud services. Microsoft said, "This acquisition fits squarely into our commitment to empower customers with the tools they need to govern their cloud adoption and realize the strategic benefits of a global, trusted, intelligent cloud. Cloudyn capabilities will be incorporated into our product portfolio that offers customers the industry's broadest set of cloud management, security and governance solutions."

09:35 EDT Nevada reports May statewide gaming win up 3.51% to $991.6M - Nevada reports May Las Vegas Strip gaming win up 2.97% to $546.79M. Publicly traded companies in the casino space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).

09:25 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Constellation Brands (STZ), up 8.2%... Acuity Brands (AYI), up 8.7%. ALSO HIGHER: Valeant Pharmaceuticals (VRX), up 4.7% after completing the sale of Dendreon to Sanpower Group... Energous (WATT), up 6.6% after Dialog Semiconductor (DLGNF) is investing an additional $15M in the company. NOTABLE MOVERS: Walgreens (WBA), up 6% after terminating the merger agreement with Rite Aid (RAD). Rite Aid is down 19.6%. LOWER: Pier 1 Imports (PIR), down 12.1% after reporting quarterly results... YY (YY), down 5% after Chinese regulator punishes live-streaming platforms... Government Properties (GOV), down 4% after its 25M share Secondary priced at $18.50.

09:23 EDT AMC launches premium option for Xfinity customers - Comcast and AMC announced a new upgrade option available initially to Xfinity TV customers offering an on demand premium expression of the network. Fans of hit shows like AMC's "The Walking Dead" and "Into the Badlands" will have the opportunity to upgrade to AMC Premiere and enjoy a variety of premium content and experiences including ad-free versions of new episodes of current season shows at the same time as the live broadcast, in addition to an array of exclusive and first-look content and curated movies. AMC Premiere will soft launch today, with more content and features rolling out over the summer. In addition to ad-free versions of stacked current seasons of original series available in real-time, AMC Premiere will be updated with enhancements like original content created specifically and exclusively for AMC Premiere, a curated and continually refreshed slate of movies specifically chosen to complement current in-season programming, some prior seasons of original series, first looks at series teasers and trailers, uncut and bonus scenes and episodes, exclusive interviews with casts and showrunners and more. Xfinity TV customers can access AMC Premiere through Xfinity set-top boxes and the Xfinity Stream website and mobile app. Availability on AMC apps and AMC.com will roll out over the coming months. Available to existing AMC subscribers, Xfinity TV customers can add AMC Premiere to their video package for $4.99 per month.

09:18 EDT Natural Alternatives International extends CarnoSyn license agreement - Natural Alternatives has extended to 2026 its worldwide license agreement directed to its CarnoSyn beta-alanine patent and trademark estate with Nutrabolt. Nutrabolt is a fast growing nutritional life science company and creator of Cellucor C4 products. The companies are expanding their business relationship to collaborate in the area of sports nutrition and other key fields of growth related to CarnoSyn beta-alanine. NAI also announced that the USPTO has allowed a new patent application directed to a broad range of improved methods of beta-alanine intake, targeting such benefits as delaying muscle fatigue, increasing anaerobic capacity, increasing muscle strength and increasing muscle endurance. This new intellectual property significantly lengthened the patent coverage for CarnoSyn beta-alanine.

09:10 EDT Walgreens Boots Alliance says making big push to update technology in stores

09:05 EDT ON Semiconductor, PowerSphyr announce agreement for wireless power solution - ON Semiconductor and PowerSphyr announced an agreement to develop and market a wireless power solution for consumer electronic devices and the fast-growing IoT space. The agreement calls for ON Semiconductor to integrate its efficient power management components with PowerSphyr's wireless power transfer technology, which combines near-field and far-field wireless charging, to create a new class of chipsets targeted at Original Equipment Manufacturers. The companies expect to develop the world's first universally compatible wireless charging solutions that support interoperability with the major wireless power standards to allow device charging without cables or connectors. Inside each device enabled by PowerSphyr, there will be a system based on the new application specific integrated circuits with support through ON Semiconductor's global sales and technical support teams. Over the long term, PowerSphyr will continue to share future technology with ON Semiconductor to create new opportunities for further semiconductor integration.

09:00 EDT 21st Century Fox responds to statement by U.K. Secretary on Sky takeover - 21st Century Fox (FOX, FOXA) notes the announcement by the Secretary of State for Culture, Media and Sport that she is minded to refer its proposed acquisition of Sky (SKYAY) to the Competition and Markets Authority for a phase two review in respect of the media plurality ground. "We are pleased that she is minded not to refer to the CMA in respect of the commitment to broadcasting standards. While we welcome the Secretary of State's decision on broadcasting standards, we are disappointed that she does not accept Ofcom's recommendation stated in its report that '....the proposed undertakings offered by Fox to maintain the editorial independence of Sky News mitigate the media plurality concerns.' Separately, 21CF is pleased that Ofcom recognizes that Sky, under full 21CF ownership, would remain a fit and proper holder of broadcast licenses. 21CF will now make representations to the Secretary of State regarding her provisional decision and Ofcom's report, and will continue to work constructively with the UK authorities. In the event that the Secretary of State makes a final decision to refer to the CMA, we would expect that the review would take at least 24 weeks. In such an event, the transaction is expected to close by June 30, 2018," the company said.

08:56 EDT YY drops after Chinese regulator punishes live-streaming platforms - China's Ministry of Culture is punishing twelve live-streaming platforms, including YY, Miaopai and Wukong TV, due to violations on content, according to Bloomberg, citing a statement from the Ministry that didn't specify the punishment. Shares of YY Inc. are down 5% to $55.55 in pre-market trading in New York.

08:53 EDT PAR Technology announces $10.9M U.S. Air Force subcontract award - PAR Technology Corporation announced that its indirect subsidiary, Rome Research Corporation, has been awarded a subcontract from Scientific Research Corporation of Charleston, SC to monitor Paveway IV munitions, Stand-Off Weapons and F-15SA Critical Controlled Assets and provide Electronic Security Systems Manager operations at various Royal Saudi Air Force designated locations within the Kingdom of Saudi Arabia. The subcontract includes a base year with up to four options years, with a total value of $10.9M.

08:51 EDT Walgreens Boots Alliance sees synergies of $400M/yr from Rite Aid store purhcase - Sees the purchase "modestly accretive" to earnings in first year post close. Comments from Q3 earnings conference call.

08:48 EDT Forestar announces agreement with D.R. Horton, terminates Starwood agreement - Forestar Group (FOR) announced that it has entered into a definitive agreement with D.R. Horton (DHI) under which D.R. Horton will acquire 75% of the outstanding shares of Forestar common stock for $17.75 per share in cash. As part of the transaction, Forestar and D.R. Horton will enter into a stockholder's agreement and a master supply agreement that establishes a strategic relationship between Forestar and D.R. Horton for the supply of developed lots. A release providing further details about the definitive agreement and plans for the relationship between Forestar and D.R. Horton was issued separately. Forestar also announced today that it has terminated its previously announced merger agreement with Starwood Capital Group. Accordingly, Forestar is also announcing the cancellation of its special meeting of stockholders which was scheduled to be held on July 7. Forestar previously announced that it had entered into a merger agreement with Starwood on April 13, which was subsequently amended, pursuant to which Starwood would acquire all of the outstanding shares of Forestar common stock for $16.00 per share in cash. On June 23, Forestar announced that it had received a revised binding proposal from D.R. Horton to acquire 75% of the outstanding shares of Forestar common stock for $17.75 per share in cash and that its board of directors, after consultation with its outside legal and financial advisors, had unanimously determined that the revised D.R. Horton proposal constituted a "Superior Proposal," as defined in the amended Starwood merger agreement. After such determination by the Forestar board of directors, Starwood did not make any proposal to adjust the terms and conditions of the amended Starwood merger agreement. In accordance with the amended Starwood merger agreement, prior to the termination of the amended Starwood merger agreement, Forestar paid Starwood a $20M termination fee.

08:45 EDT Oneok Partners expected to be removed from Alerian Index series after merger - ONEOK Partners (OKS) is expected to be removed from the Alerian MLP Index, Alerian MLP Equal Weight Index, Alerian MLP Infrastructure Index, Alerian Large Cap MLP Index and the Alerian Natural Gas MLP Index in a special rebalancing. Special rebalancings are triggered by corporate actions such as mergers, bankruptcies, and liquidations. Pending shareholder approval, OKS will cease to trade due to its merger with ONEOK, Inc. (OKE). If approved, the rebalancing will take place one full trading day after the issuance of a press release indicating all needed merger votes have passed. The special rebalancing will likely take place after market close on July 5.

08:41 EDT Sanpower Group completes acquisition of Dendreon from Valeant - Sanpower Group announced the completion of its 100% acquisition of Dendreon from Valeant Pharmaceuticals for $819.9M in cash. Dendreon's core product, Provenge, is the first and only FDA-approved cellular immunotherapy for prostate cancer. Sanpower Group intends to maintain the continuity of Dendreon's US team, and facilitate the company's continued steady growth through a number of approaches. In particular, Sanpower plans to promote Provenge's penetration outside of the US, starting with China and Southeast Asia. Sanpower Group currently possesses the largest umbilical cord blood banking operations in China and Southeast Asia, and services more than six million senior care customers and operates a market-leading genetic testing business in China -- all business lines with great synergy potential. The Group's extensive resources in Asia will enable Dendreon to expand its geographic coverage, explore additional clinical programs and enrich its transaction pipeline with a view to maximize the company's commercial and clinical potential.

08:39 EDT Celltrion, Teva announce FDA acceptance of BLA for Rituxan biosimilar - Celltrion and Teva Pharmaceutical announced that the U.S. Food and Drug Administration has accepted for review the Biologics License Application for CT-P10, a proposed Monoclonal Antibody biosimilar to Rituxan, which is used to treat patients with non-Hodgkin's lymphoma, chronic lymphocytic leukemia, rheumatoid arthritis, granulomatosis with polyangiitis and microscopic polyangiitis. The BLA for CT-P10 includes data for CT-P10 and reference rituximab in terms of efficacy, safety, immunogenicity, pharmacodynamics and pharmacokinetics.These trials were conducted in over 600 patients and include up to 104 weeks of data. CT-P10 was approved by the European Commission in February 2017 and has launched in the U.K., Germany, Netherlands, Spain and the Republic of Korea. Celltrion and Teva entered into an exclusive partnership to commercialize CT-P10 and CT-P6, a biosimilar to Herceptin, in the U.S. and Canada in October 2016. As part of the agreement, Teva is responsible for all commercial activities in the U.S. and Canada, pending regulatory approvals for both products. Celltrion has responsibility for completing all clinical development and regulatory activities. The BLA for CT-P10 has been accepted for filing by the FDA for standard review, with FDA Regulatory Action expected during Q1 of 2018.

08:36 EDT Silver Spring selected for Grant PUD advanced metering program - Silver Spring Networks announced its selection for an advanced metering program with Grant County Public Utility District. Grant PUD is a public power corporation that generates and sells electricity across a 2,777-square mile service area in Central Washington and the Pacific Northwest. Silver Spring's standards-based Gen5 network platform will connect approximately 47,000 Grant PUD advanced metering customers to help deliver operational savings, improve service reliability, and enable greater energy efficiency.

08:34 EDT Commerce Union Bancshares raises quarterly dividend 9.1% to 6c per share - Commerce Union Bancshares announced that its board of directors approved a 9.1% increase in the cash dividend to 6c per share to be paid on a quarterly basis. The initial dividend payment of 12c per share represents the dividend for the first two quarters of 2017. Commerce Union previously paid an annual cash dividend of 22c per share. The 12c per share dividend is payable on July 21, to shareholders of record as of the close of business on June 30.

08:32 EDT Orbital ARK receives contract to repair trainer aircraft for Iraqi Air Force - Orbital ATK has received a contract from the U.S. government to repair trainer aircraft for the Iraqi Air Force to continue their security mission. The trainer aircraft include 12 Cessna 172 Skyhawks and five Cessna Caravans. Since 2007, Orbital ATK has supplied the Iraqi Air Force with three armed aircraft, three reconnaissance aircraft and five trainer aircraft. Additionally, Orbital ATK has continuously provided in-country maintenance, logistics support and student training on the missionized Caravans. The AC-208 Eliminator is the newest addition to Orbital ATK's Special Mission Aircraft product portfolio, which provides affordable, innovative, battle-proven, responsive and advanced capabilities to customer-preferred platforms. The company's expertise includes outfitting various aircraft - including the Cessna 208B Caravan, Alenia C-27J Spartan, CASA CN-235/295, Lockheed C-130 Hercules, Bombardier Dash-8, Hawker Beechcraft King Air, Sikorsky H-60 Blackhawk, AgustaWestland AW139 and others - with integrated intelligence, surveillance and reconnaissance, and attack capabilities, as well as providing contractor logistics support services.

08:17 EDT Varian Medical receives FDA 510(k) clearance for Halcyon treatment system - Varian Medical has received FDA 510(k) clearance for its Halcyon system, its new device for cancer treatment. Halcyon requires nine steps from the start to the end of treatment compared to up to more than 30 steps with older technologies. Halcyon offers treatments for prostate, breast, head & neck, and many other forms of cancer.

08:16 EDT Abeona Therapeutics receives FDA Orphan Drug Designation for ABO-201 program - Abeona Therapeutics announced that the FDA has granted Orphan Drug Designation for Abeona's ABO-201 program, the AAV-based single intravenous gene therapy program for juvenile Batten disease, a fatal lysosomal storage disease of the nervous system caused by autosomal-recessive mutations in the CLN3 gene.

08:14 EDT Concord Medical announces construction of proton treatment building in Beijing - Concord Medical announced that the proton treatment building of the Beijing Proton Medical Center officially started construction. The Beijing Proton Medical Center is an independent proton radiotherapy institution established by Concord Medical and China-Japan Friendship Hospital, with an independent legal personality approved by the National Health and Family Planning Commission of the People's Republic of China and is the first proton center in Beijing constructed under international standards. The installation of the IBA Proton Therapy System is expected to start in January 2018. The installation of the first treatment room will be completed in 1Q19, and will be open for operation. In 1Q20, four treatment rooms will be all open for operation.

08:10 EDT CytomX receives $15M development milestone payment from AbbVie - CytomX Therapeutics (CTMX) announced that the company has advanced CX-2029, a Probody drug conjugate, or PDC, targeting CD71 and being developed in collaboration with AbbVie (ABBV), into GLP toxicology studies, a key step on the path to filing an Investigational New Drug application in 2018. Upon commencement of the GLP toxicology study, CytomX will receive a $15M milestone payment from AbbVie as part of the 2016 strategic oncology collaboration between the companies.

08:08 EDT Enzo Biochem reports Delaware court ruling - Enzo Biochem reported that a federal judge for the U.S. District Court for the District of Delaware has entered an order in the actions entitled Enzo Life Sciences, Inc. v. Gen-Probe Incorporated, Enzo Life Sciences, Inc. v. Hologic, Inc., Enzo Life Sciences, Inc. v. Roche Molecular Systems, Inc., and Enzo Life Sciences, Inc. v. Becton, Dickinson and Company, denying summary judgment that U.S. Patent No. 6,992,180 is invalid for lack of written description, but granting summary judgment that the '180 Patent is invalid for lack of enablement. The ruling addresses only one patent at issue in the ongoing patent infringement actions between Enzo and the defendants in each case. At least one other Enzo patent remains pending against each defendant in those or parallel actions. Enzo believes that the Court's ruling was in error, and is exploring options for review of the decision.

08:07 EDT Energy Transfer, Kogas, Shell sign MOU for Lake Charles LNG study - Dallas-based Energy Transfer announced its subsidiary, Lake Charles LNG Export Company has entered into a Memorandum of Understanding with South Korea-based Korea Gas Corporation to study the feasibility of joint participation in the Lake Charles LNG Liquefaction Project. Houston-based BG LNG Services, a subsidiary of Shell (RDS.A) is also participating in the study of the project under consideration. The Lake Charles LNG facility in Lake Charles, LA is owned 60% by Energy Transfer Equity (ETE) and 40% by Energy Transfer Partners ( ETP). The liquefaction project under consideration by the parties will utilize Energy Transfer's existing regasification import facility to accommodate the development of the liquefaction project. The non-binding MOU signed yesterday in Washington, D.C., will allow the parties to study the economics of the project, the engineering, procurement and construction agreement for the project, and the feasibility of sourcing and marketing domestically produced natural gas to export as LNG.

08:05 EDT Albany Molecular announces early termination of waiting period for acquisition - Albany Molecular (AMRI) announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended in connection with the proposed acquisition of AMRI by affiliates of The Carlyle Group (CG) and GTCR. On June 5, AMRI entered into a definitive agreement to be acquired by Carlyle and GTCR for $21.75 per share in cash. The early termination of the HSR waiting period satisfies one of the conditions to the proposed acquisition. Closing of the transaction remains subject to other closing conditions, including the affirmative vote in favor of the transaction by holders of a majority of AMRI's outstanding common stock. It is anticipated that the special meeting of AMRI's stockholders to vote on the transaction will be held in Q3 and, if the transaction is approved, the merger would be expected to close shortly thereafter.

08:02 EDT Foamix names David Domzalski as CEO, effective immediately - Foamix announced that its Board of Directors has named David Domzalski CEO of the company effective immediately. Domzalski currently serves as President of Foamix's U.S. subsidiary. He succeeds Dr. Dov Tamarkin as CEO. Dr. Tamarkin will continue to be a member of the company's Board of Directors and will serve as Chief Scientific Advisor to Foamix. The company also announced that Meir Eini will be stepping down from his current role of Chief Innovation Officer and will continue to serve as an Innovation Advisor to Foamix. Ilan Hadar, the current CFO of Foamix, will assume the role of Country Manager in Israel, in addition to his role as CFO.

07:55 EDT Nevsun Resources reports new drill results at Timok copper-gold project - Nevsun Resources announced new assay results from on-going drilling of the Lower Zone at the Timok copper-gold project. Highlights of new porphyry copper intersections include: 0.80% Cu and 0.22g/t Au over 798.1m in TC170131A - 1.11% Cu equivalent -; 1.01% Cu and 0.18g/t Au over 336.1m in TC160118 - 1.27% Cu equivalent -; 1.02% Cu and 0.25g/t Au over 327.0m in TC160125D - 1.38% Cu equivalent -; 1.18% Cu and 0.29g/t Au over 238.7m in TC160125B - 1.59% Cu equivalent. Drilling is targeted for completion in late 2017. The Lower Zone assays reported are part of an on-going $20M drilling program with joint venture partner Freeport-McMoRan aimed at defining the large footprint of the Timok Lower Zone mineralization. The Timok Project is located in eastern Serbia near the Bor mining and smelting complex.

07:44 EDT Constellation Brands acquires Schrader Cellars fine wine portfolio - Constellation Brands announced that it had enhanced its fine wine portfolio with the purchase of Schrader Cellars. "The iconic Schrader Cabernet Sauvignon portfolio is sourced from premier Napa Valley vineyards and has become part of the company's admired fine wine portfolio under its newly established fine wine organization, which specializes in servicing luxury wine consumers and customers," the company stated. Terms of the transaction were not disclosed.

07:39 EDT Primoris announces heavy civil awards valued over $15M - Primoris Services announced two new heavy civil awards valued at over $15M. The contracts were secured by Primoris Heavy Civil, part of the Civil segment. Both projects were awarded by the City of Houston. The first project is for the construction of two overpasses south of downtown Houston. Each overpass is approximately 1,150 linear feet in length. Work is scheduled to commence in the third quarter of 2017, and completion is expected in the third quarter of 2018. The second project is for concrete airfield pavement repairs, reconstruction, and associated electrical lighting at various locations on the airfield at Houston's George Bush Intercontinental Airport. Work is scheduled to commence in the third quarter of 2017, and completion is expected in the first quarter of 2019.

07:36 EDT Biogen to present SPINRAZA data at Cure SMA conference - Biogen will present efficacy and safety data from Phase 2 and 3 SPINRAZA studies at the Cure SMA 2017 Annual SMA Conference in Orlando, Fl, June 29 to July 2. The breadth of data presented reinforces the significant and clinically meaningful efficacy of SPINRAZA on the achievement of motor milestones and measures of motor function across a broad range of individuals with spinal muscular atrophy, as well as on survival endpoints in infantile-onset SMA," the company said. In an analysis of the Phase 3 ENDEAR end of study results, a greater proportion of infants with SMA on permanent ventilation treated with SPINRAZA demonstrated clinical benefits compared to untreated infants. End of study data from both the Phase 3 ENDEAR and CHERISH studies further demonstrate that earlier SPINRAZA treatment in individuals with SMA may lead to improved outcomes. In individuals with shorter disease durations, infants in ENDEAR demonstrated a lower risk of death or permanent ventilation and children in CHERISH demonstrated greater motor function improvement from baseline to 15 months compared to untreated individuals. In addition, further results from the interim analysis of the Phase 2 NURTURE study highlight the clinically meaningful efficacy of SPINRAZA on event-free survival, measures of motor function and achievement of motor milestones when administered to infants with genetically-diagnosed SMA before symptom onset. SPINRAZA demonstrated a favorable benefit-risk profile, with commonly reported adverse events consistent with those expected in the general SMA population or related to a lumbar puncture procedure. Safety data involving the intrathecal administration of SPINRAZA showed the incidence and nature of the most common lumbar puncture-related adverse events were similar in children with later-onset SMA with or without scoliosis in the clinical studies.

07:34 EDT Conagra Brands backs three-year FY2020 financial algorithm - The company is reiterating its three-year fiscal 2020 financial algorithm, which uses fiscal 2017 as the base year, as summarized below: Organic net sales compound annual growth rate in the range of 1% to 2%. Organic net sales growth is defined as net sales growth excluding the impacts of foreign exchange as well as acquisitions and divestitures until the anniversary date of the transactions. Adjusted gross margin of approximately 32% for the full fiscal year 2020. Adjusted operating margin of approximately 16.5% for the full fiscal year 2020. Adjusted EPS CAGR of approximately 10%. Annual dividend payout ratio of between 45% and 50%.

07:29 EDT Conagra Brands board authorizes additional $1B in share repurchases

07:17 EDT Aviatrix, Nutanix partner for cloud networking - Aviatrix announced that it has formed a technology, sales and marketing partnership with Nutanix. Aviatrix also announced a joint solution with Nutanix that allows enterprises to automate connectivity between hyperconverged private cloud environments and popular public clouds. The joint solution leverages Aviatrix Cloud Interconnect software and the newly announced Nutanix Calm multi-cloud orchestration software to enable Nutanix customers to seamlessly and securely extend their datacenter networks into public cloud services.

07:12 EDT Fred's comments on termination of Walgreen's-Rite Aid merger - Fred's (FRED) commented on the termination of the merger between Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) and the related asset purchase agreement of Fred's with Walgreens and Rite Aid. Michael Bloom, CEO, said, "While the acquisition of additional stores was an opportunity for growth, we always viewed it as a potential outcome that would accelerate our transformation, not define it. This is a disappointing outcome; however, the termination of the transaction has no impact on the company's transformation strategy or our ability to execute. We are as confident as ever that we have a strong team and the right strategy in place to drive long-term growth and profitability, and to enhance value for our shareholders. We are excited about what we have accomplished and are optimistic about the future. Our leadership team continues to deliver on its promise to optimize our business model and execute our healthcare strategy. We are capitalizing on opportunities to increase prescription comps in Retail Pharmacy, growing sales in Specialty Pharmacy and driving traffic into our front store. We also continue to optimize our store fleet, upgrade our talent, technology, supply chain and business processes. Our transformation is on track." On December 20, Fred's Pharmacy announced that it signed an asset purchase agreement with Walgreens and Rite Aid to purchase 865 stores and certain other assets. Completion of the transaction was subject to approval by the Federal Trade Commission, as well as other customary regulatory approvals and closing conditions. Following the termination of the merger between Walgreens and Rite Aid, the Fred's Pharmacy asset purchase agreement with Walgreens and Rite Aid has also been terminated. Fred's Pharmacy will receive $25M as reimbursement for expenses associated with the terminated transaction.

07:09 EDT Omeros says short-seller report 'actionable,' pursuing legal remedies - Omeros stated that it is aware of a report posted on-line by "Art Doyle," an entity or group that appears to be concealing its identity and is purportedly writing on behalf of itself or one or more employers. "Art Doyle" self-identifies as having a short position in Omeros' stock. "While the company does not routinely respond to defamatory statements, given this report's egregious nature, the company elected to respond. This report is replete with falsehoods, misleading statements and incorrect analyses and conclusions. 'Art Doyle' states that it stands to profit in the event that Omeros' share price declines. The report is actionable and the company is pursuing legal remedies. Omeros intends to hold all responsible parties accountable. Omeros accurately reports the status and results of its commercial, clinical and development programs. The company continues to focus on growing its sales of OMIDRIA 1%/0.3%, to advancing OMS721, its lead MASP-2 inhibitor, through Phase 3 clinical development, including subcutaneous and intravenous formulations, and to progressing its pipeline of additional clinical and preclinical programs," the company said.

07:07 EDT Myovant Sciences begins Phase 3 program of relugolix for endometriosis pain - Myovant Sciences has initiated a Phase 3 clinical program consisting of two international clinical trials, SPIRIT 1 and SPIRIT 2, to evaluate the efficacy and safety of relugolix in women with endometriosis-associated pain. Relugolix is an oral, once-daily, small molecule gonadotropin-releasing hormone receptor antagonist that decreases estrogen and progesterone. Relugolix will be evaluated with and without low-dose hormonal add-back therapy. Each of the two clinical trials is expected to enroll approximately 600 women aged 18 to 50 years. The co-primary efficacy endpoints of the SPIRIT 1 and SPIRIT 2 trials are the proportion of women with reduction in dysmenorrhea - menstrual pelvic pain -, and the proportion of women with reduction in non-menstrual pelvic pain, as assessed by a daily endometriosis-specific patient questionnaire. Safety outcomes, including bone mineral density changes as measured by dual-energy x-ray absorptiometry, will also be assessed.

07:06 EDT Walgreens Boots Alliance authorizes share repurchase program up to $5B - On June 28, the company authorized a share repurchase program for up to $5B of the company's shares prior to the program's expiration on August 31.

07:05 EDT DSW opens first warehouse in Oman - DSW is pleased to announce the opening of its first warehouse in Oman. The new warehouse located at the Muscat Grand Mall marks the first expansion of DSW Designer Shoe Warehouse outside North America.

07:03 EDT Diebold to launch integrated brand, direct presence in U.K., Ireland - Diebold Nixdorf announced it is launching its fully integrated brand and direct presence in the U.K. and Ireland. The company has agreed to sell its legacy Diebold business in the United Kingdom to Cennox Group, fulfilling the requirements previously set forth by the U.K. Competition and Markets Authority. The acquisition by Cennox is expected to close June 30. Upon closing, the legacy, independent Wincor Nixdorf U.K. and Ireland business will be completely integrated into the global Diebold Nixdorf operations and brand. This includes the company's retail business, which was not subject to CMA review.

07:02 EDT Rite Aid, Walgreens terminate prior deal, Rite Aid agrees to sell stores instead - Rite Aid (RAD) announced that it has entered into an asset purchase agreement with Walgreens Boots Alliance (WBA), whereby WBA will acquire 2,186 stores, related distribution assets and inventory from Rite Aid for an all-cash purchase price of $5.175B, on a cash-free, debt-free basis. Under the terms of the agreement, Rite Aid has the option to purchase generic drugs that are sourced through an affiliate of WBA at cost, substantially equivalent to Walgreens for a period of 10 years. The 2,186 stores included in the agreement are primarily located in the Northeast, Mid-Atlantic and Southeastern regions of the United States. The three distribution centers included in the agreement are located in Dayville, Conn., Philadelphia and Spartanburg, S.C. Under the terms of the agreement, Rite Aid will provide certain transition services to WBA for up to three years after the closing of the transaction. The transaction, which is expected to close within six months, has been approved by the Boards of Directors of Rite Aid and WBA and is subject to antitrust clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions. Approval of this transaction does not require a shareholder vote. Rite Aid expects to use a substantial majority of the net proceeds from the transaction to repay existing indebtedness, significantly reducing Rite Aid's leverage levels. Rite Aid also expects that the federal tax gain on the sale of the assets will be largely offset by its net operating loss carryforwards, resulting in a minimal cash tax payment on this transaction. Following the completion of the transaction, Rite Aid will continue to operate EnvisionRx, its pharmacy benefit manager, RediClinic and Health Dialog and leverage the capabilities of these subsidiaries to deliver a higher level of care in the communities it serves. The company also announced the immediate termination of the merger agreement, which was announced on October 27, 2015 and amended on January 29, 2017, under which WBA would have acquired all outstanding shares of Rite Aid. The decision to terminate the merger agreement follows feedback received from the Federal Trade Commission that led the company to believe that the parties would not have obtained FTC clearance to consummate the merger. In connection with the termination, WBA has agreed to pay Rite Aid a termination fee in the amount of $325M in cash. In light of the termination of the merger agreement, the divestiture agreement with Fred's (FRED) was also terminated, effective today.

07:00 EDT Rite Aid, Walgreens terminate prior deal, Rite Aid agrees to sell stores instead

06:53 EDT Lindsay reports backlog of unshipped orders $70.1M at May 31 - Compared with $61.2M at May 31, 2016. Higher order backlog in the irrigation segment was partially offset by slightly lower order backlog in the infrastructure segment compared to the prior year.

06:47 EDT Kennametal names Christopher Rossi CEO, Ron De Feo appointed executive chairman - Kennametal announced that its board of directors has appointed Christopher Rossi as president and CEO and has named him a director. Chris succeeds Ron De Feo whom the board has appointed executive chairman of the board. Both appointments are effective August 1. Rossi previously served as the chief executive officer of Dresser-Rand at Siemens from September 2015 through May 2017.

06:46 EDT Investors Real Estate completes CFO transition - IRET announced that as part of the company's previously disclosed executive transition plan, John Kirchmann has been appointed CFO, effective immediately. Kirchmann joined IRET in April to assume the position of CFO upon the completion of the FY17 audit.

06:05 EDT Noah Holdings authorizes $50M share repurchase program - Noah Holdings has authorized a share repurchase program effective on July 8, to repurchase up to $50M of its issued and outstanding American Depositary Shares for a 12-month period. Over the past 12 months, the company has repurchased 280,956 ADSs for an aggregate purchase price of approximately $6.4M. As part of the 2017 Share Repurchase Plan, the company has adopted an automatic trading plan for the purpose of repurchasing up to $20M of ADSs in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934.

05:36 EDT Hutchison China MediTech, AstraZeneca initiate SAVOIR Phase III trial - Hutchison China MediTech (HCM) and AstraZeneca (AZN) announce that they have initiated a global pivotal Phase III, open-label, randomized multi-center registration study of the highly selective inhibitor of c-MET receptor tyrosine kinase, savolitinib, in c-MET-driven papillary renal cell carcinoma, or PRCC. This is the first pivotal study ever conducted in c-MET-driven PRCC and the first molecularly selected trial in renal cell carcinoma.

05:27 EDT Western Digital comments on recent actions taken by Toshiba - Western Digital (WDC) issued the following statement regarding Toshiba's (TOSBF, TOSYY) recent actions, including its decision to prohibit certain employees from accessing shared databases related to the three NAND flash-memory joint ventures operated with Western Digital's SanDisk subsidiaries as well as, in some instances, access to the JVs' facilities, and its decision to seek a provisional disposition order against Western Digital in the Tokyo District Court: "Western Digital is strongly focused on the success of the JVs, and over the past 17 years has made substantial investments to support and grow this world-class venture. We remain committed to upholding all of our commitments and obligations as a partner in the JVs, including the vigorous protection of trade secrets. Any claims by Toshiba to the contrary are frivolous and without merit. We also note that operations at the JVs are ongoing and SanDisk continues to be entitled to its 50 percent share of the JVs' output. Toshiba took an unprecedented and retaliatory action to prohibit certain employees from accessing shared databases and, in some instances, the JVs' facilities themselves. This action will have the consequence of harming not only Toshiba's stakeholders, but also our respective customers. Western Digital has not received any legal filings and therefore is unable to comment on the specific claims made by Toshiba in Tokyo District Court. However, the process to resolve disputes is clear: under the JV contracts, disputes are required to be resolved through arbitration with the ICC International Court of Arbitration. The arbitration proceedings are ongoing, and SanDisk's filing for preliminary injunctive relief in the Superior Court of California for the County of San Francisco seeks to ensure that the ICC International Court of Arbitration will be given an appropriate opportunity to resolve the disputes. We believe the actions taken by Toshiba are continued attempts to both pressure Western Digital to relinquish its previously agreed upon and legitimate consent rights, and to distract Toshiba's stakeholders following its annual general meeting. It is surprising that Toshiba would take such actions given the implications for its employees, customers, shareholders and creditors." Western Digital also reiterated its commitment to jointly invest in the JVs, including Fab 6 in Yokkaichi, Japan: "As Western Digital has previously stated, we fully intend to invest in the JVs, including Fab 6, to continue our ongoing conversion from 2D NAND to 3D NAND. Commercial volumes from Fab 6 are not expected until mid-calendar year 2018. Our commitment to make continued significant investments in Yokkaichi and the surrounding communities to support the JVs and preserve it as the world's centerpiece of innovation in memory technology development and manufacturing is unchanged. Previously SanDisk filed a request for injunctive relief seeking to prevent Toshiba from transferring its JV interests until SanDisk's claims can be heard in arbitration. SanDisk looks forward to presenting its case to the Superior Court of California for the County of San Francisco on July 14, 2017. In addition, SanDisk is confident that it will succeed on the legal merits of its arbitration request filed on May 14, 2017, and the case continues to move forward in the ICC International Court of Arbitration."