Stockwinners Market Radar for July 05, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:02 EDT Equinix announces availability of private access to Oracle Clous in Sydney IBX - Equinix (EQIX) announced the immediate availability of dedicated, private access to Oracle (ORCL) Cloud in its Sydney, Australia, International Business Exchange data center. Available via Oracle Cloud Network Service - FastConnect and the Equinix Cloud Exchange, access will be available for Oracle Infrastructure as a Service as well as Platform as a Service. This direct access enables enterprise customers in this growing region to migrate compute, applications and data to Oracle Cloud in a high-performance, low-latency manner for an optimal user experience. This builds on previous announcements between Equinix and Oracle to offer direct connection to several Oracle PaaS and IaaS services, including database, Java, integration, analytics, compute and storage - in multiple regions around the globe. The addition of Sydney brings the total number of markets that Equinix is offering private access to Oracle Cloud to five, globally.

18:52 EDT Fed posts public portions of bank annual resolution plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation posted the public portions of annual resolution plans for eight large financial firms. Resolution plans, required by the Dodd-Frank Act and commonly known as living wills, must describe the company's strategy for rapid and orderly resolution under bankruptcy in the event of material financial distress or failure of the company. Eight firms were required to submit plans on July 1: Bank of America Corporation (BAC), Bank of New York Mellon Corporation (BNK), Citigroup (C), Goldman Sachs (GS), JPMorgan Chase & Co. (JPM), Morgan Stanley (MS), State Street Corporation (STT), and Wells Fargo & Company (WFC). By regulation, resolution plans must be divided into a public section and a confidential section. To foster more transparency, the agencies have required each firm's public section to summarize certain elements of the resolution plan, including the firm's material entities and core business lines, and information helpful in understanding how the resolution plan would be executed. Reference Link

18:09 EDT Renewable Energy 'fully embraces' opportunity from EPA's RVO proposal - Renewable Energy Group president and CEO Randy Howard issued the following statement regarding the Environmental Protection Agency's release of the proposed Renewable Volume Obligations for 2018 Conventional and Advanced Biofuel and 2019 Biomass-Based Diesel: "This proposal offers REG and the American biomass-based diesel industry the opportunity to prove once again how we exceed expectations and we fully embrace that opportunity. The RVO is only one tool that aids biomass-based diesel growth and it is our job to convince policymakers that it should not restrain growth of American-made renewable fuel. We remain confident in a positive outcome in the trade complaint against unfairly subsidized imported biodiesel from Argentina and Indonesia, and are just as confident that U.S. production can make up for any lost import volumes. And finally, there is momentum to reinstate and reform the federal biodiesel tax incentive to focus it on domestically produced fuel. So, we look forward to additional meetings with the Administration in the coming weeks to show how an industry that is only running at about 65 percent capacity, has ample feedstock supply, and is helping fill growing diesel demand can help President Trump reaffirm his commitment to growing the supply of all American made fuels."

17:29 EDT Cypress Semiconductor in settlement pact with T.J. Rodgers - Cypress Semiconductor announced that it has reached a cooperation and settlement agreement with former CEO T.J. Rodgers. The settlement was negotiated on behalf of Cypress by Steve Albrecht, Chairman of the Board, Hassane El-Khoury, President and CEO and Dan McCranie, who was elected to the Cypress Board of Directors at the Company's 2017 Annual Meeting of Stockholders in June 2017. Under the terms of the agreement, Cypress and Rodgers have entered into a standstill and mutual non-disparagement agreement through the earlier of (i) May 31, 2019 and (ii) the conclusion of the 2019 Annual Meeting, so long as Dan McCranie and Camillo Martino are nominated by the Cypress Board for election at the 2018 and 2019 Annual Meetings. Cypress' Board is obligated to nominate McCranie and Martino for re-election at the 2018 and 2019 Annual Meeting of Stockholders unless the Board unanimously determines in good faith that nominating either or both of the Rodgers Nominees would be detrimental to the Company. Rodgers has also agreed to terminate all existing ligation against Cypress brought in connection with the contested election at the 2017 Annual Meeting. Cypress has agreed to reimburse Rodgers for expenses of up to $3.5 million, in connection with the 2017 proxy contest. "We are pleased to have reached an agreement with T.J. Rodgers, which is a very positive and beneficial outcome for both the Company and our stockholders," said Steve Albrecht. "This allows Hassane and the management team to focus all of their attention on accelerating the execution of our Cypress 3.0 strategy and working closely with customers to solve the problems they care about. The Cypress Board of Directors, including our newest members, Dan McCranie and Camillo Martino, are committed to providing the support and guidance to Cypress management for this next exciting phase of our company." "I firmly believe this agreement is in the best interest of all Cypress stakeholders, including stockholders and employees," said T.J. Rodgers. "I fully support the Cypress Board and management team's continuing efforts to drive Cypress forward and I am excited to see what the next few years bring."

17:23 EDT FDA gives Impax final approval on ANDA for generic version of Focalin XR - Impax Laboratories announced it has received final U.S. Food and Drug Administration approval on its Abbreviated New Drug Application, ANDA, for a generic version of Focalin XR extended-release capsules CII, 25 and 35 mg. Impax has immediately initiated commercialization activities. This approval and launch of the 25 and 35 mg strengths complements the company's commercialized generic portfolio of Focalin XR products, which also includes strengths of 5, 10, 15, 20 and 30 mg capsules. According to IMS Health, dexmethylphenidate hydrochloride extended-release capsules, 25 and 35 mg, had U.S. brand and generic sales of approximately $93M for the 12 months ending May 2017. Dexmethylphenidate hydrochloride extended-release capsules are indicated for the treatment of Attention Deficit Hyperactivity Disorder, ADHD, in patients aged 6 years and older.

17:09 EDT MarketAxess reports June trading volume $127.2B - MarketAxess reported trading volume for June 2017 of $127.2B, consisting of $71.5B in U.S. high-grade volume, $50.5B in other credit volume, and $5.2B in liquid products volume. U.S. high-yield, emerging market and Eurobond volumes represented approximately 24.6%, 54.3% and 20.2% respectively, of the total trading volumes of the other credit category. The company also reported preliminary total variable transaction fees per million of $195 for the quarter ended June 30, 2017 compared to $197 for the quarter ended March 31, 2017.

17:01 EDT DGSE Companies sees posting profit in Q2 - DGSE Companies said it expects to post a profit in the second quarter of 2017. DGSE's recent return to its roots - buying and selling jewelry and timepieces at exceptional prices - is expected to bring continued improvement. "We've worked hard to manage costs, shorten supply chains, add unique merchandise to our showrooms, and implement our extremely competitive pricing strategies," said John Loftus, DGSE's President, Chairman and Chief Executive Officer since mid-December 2016.

16:51 EDT Quadrant 4 System reaches partial resolution with SEC on probe - On June 29, Quadrant 4 System filed a voluntary petition for relief commencing a case under Chapter 11 of the United States Bankruptcy Code, 11 U.S.C. 101 et seq., designated as Case Number 17-19689 in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division. The Company remains in possession of its assets and continues to operate its business as a debtor in possession in accordance with Sections 1107 and 1108 of the Bankruptcy Code. There is no trustee appointed in the Chapter 11 Case.As previously reported in Company's Current Reports on Form 8-K dated December 6, 2016, December 15, 2016, and March 22, respectively: (i) the Company's former President and Chief Executive Officer, Nandu Thondavadi, and former Chief Financial Officer and Chairman of the Board, Dhru Desai, were arrested and charged in a federal criminal complaint with wire fraud and securities fraud; (ii) Messrs. Thondavadi and Desai promptly resigned from their respective positions as officers and directors of the Company and were replaced by Robert H. Steele, as Chief Executive Officer, and Shekhar Iyer, as Chief Operating Officer; (iii) the Company's secured lenders, BMO Harris Bank, and BIP Lender, LLC each issued a Notice of Default with respect to the Company's secured debt; and (iv) the Company entered into a Forbearance Agreement dated March 17, 2016 with BMO Harris, which expired by its terms as of May 17, and which BMO Harris has declined to extend. As a result of the Criminal Action, continuing operating losses, the expiration of the Forbearance Agreement, the Company's reduced operating funds and lack of alternate funding sources, the Company's Board of Directors determined that it was in the best interests of the Company, its creditors, its shareholders and other interested parties that the Company commence the Chapter 11 Case.

16:44 EDT Cabela's still sees Bass Pro Shops transaction closing in Q3 - Cabela's announced that it has filed definitive proxy materials with the U.S. Securities and Exchange Commission in connection with the Special Meeting of Stockholders to approve the previously announced acquisition of Cabela's by Bass Pro Shops. The transaction is expected to close in the third quarter of 2017, subject to approval by Cabela's shareholders, the receipt of required regulatory approvals and the satisfaction of other customary closing conditions.

16:37 EDT State Street announces recovery and resolution plan for 2017 - State Street announced that it has filed its 2017 resolution plan. State Street, along with other banking institutions with $50 billion or more in total assets, periodically prepares and files its resolution plan, commonly referred to as a "living will," with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation. The resolution plan details State Street's efforts to enhance resolvability across its business in line with 2017 regulatory guidance. The

16:32 EDT ASUR Airports reports total June passenger traffic up 10.6% y/y - ASUR Airports announced that total passenger traffic for June 2017 increased by 10.6% when compared to June 2016. Passenger traffic rose 12.7% in Mexico, and 4.8% in San Juan.

16:30 EDT Sabre says cybersecurity incident limited to subset of bookings - Sabre Corporation issued a statement regarding a cybersecurity incident first disclosed on May 2, 2017: "Since June 6, Sabre has notified and been working with certain customers and partners that use or interact with Sabre Hospitality Solutions' SynXis Central Reservations system about our previously disclosed incident of unauthorized access. Some travel management companies and travel agencies that booked travelers that may have been affected have also been notified about the incident, although those TMCs and other parties do not use or interact with the Sabre SynXis system. Our investigation is complete and we have determined that an unauthorized party accessed certain payment card information for a limited subset of hotel reservations processed through the SHS reservation system. Not all reservations that were viewed included the payment card security code, as a large percentage of bookings were made without a security code being provided. Others were processed using virtual card numbers in lieu of consumer credit cards. Personal information such as social security, passport or driver's license number was not accessed. Sabre has notified law enforcement and the credit card brands as part of our investigation. There is no indication that any other Sabre systems beyond the SHS reservation system, such as Sabre's Travel Network and Airline Solutions platforms, were affected by the unauthorized party. We have taken successful measures to ensure this unauthorized access to the SHS reservation system was stopped and is no longer possible. Our investigation did not uncover forensic evidence that the unauthorized party removed any information from the system, but it is a possibility. This incident was limited to a subset of bookings made through the SHS reservation system and accessed over a seven month period from August 2016 to March 2017. Not all of our SHS customers had reservations that were accessed, and even for those that did have reservations that were viewed, it varied with regard to the percentage of reservations that were accessed. We have engaged Epiq Systems to provide complimentary consumer notice support for those customers that determine they have a notification obligation. The data submitted to the SHS reservation system varied, as well as the geographic locations of both our customers and their respective guests, so we have worked to provide those Sabre customers that had reservations that were viewed with all available information to evaluate their affected reservations and customer lists." The company added that it "sincerely regrets this incident," and that it appreciates "the support and collaboration our partners have shown during this investigation."

16:20 EDT Aimco acquires 100% ownership of Palazzo Properties - Apartment Investment and Management Company announced that it acquired the 47% interest in the Palazzo joint venture owned by institutional investors advised by J.P. Morgan Asset Management for $451.5M. Aimco now owns 100% of the three Palazzo communities: Palazzo at Park La Brea, a 521-apartment home community; Palazzo East, a 611-apartment home community; and Villas at Park La Brea, a 250-apartment home community. The communities are well located in the mature Mid-Wilshire district of Los Angeles and benefit from their central location to employment centers-two miles from Beverly Hills, Hollywood and Century City, and six miles in opposite directions from both Downtown LA and Santa Monica.

16:18 EDT AIG names Peter Zaffino global COO - American International Group (AIG) announced the appointment of Peter Zaffino as executive VP, global COO effective August 1, 2017. Zaffino joins AIG after serving as CEO of Marsh LLC (MMC) and as chairman of the Risk and Insurance Services segment of MMC since 2015. He was also a member of MMC's Executive Committee since 2008.

16:13 EDT Vince Holding amends term loan and revolving credit facility agreements - Vince Holding announced that it has reached an agreement to amend its Senior Secured Term Loan Facility to waive the consolidated net total leverage ratio covenant requirement through, and including, the first quarter of fiscal 2019. As previously announced, the Company also reached an agreement to amend its Revolving Credit Facility, immediately providing an additional $5M in borrowing capacity under such facility, which may be increased by an additional $5M. Brendan Hoffman, Chief Executive Officer, commented, "We are very pleased to have obtained amended agreements with our lenders. These steps, together with the completion of our proposed rights offering, will provide Vince with additional liquidity and improve the capital structure of the company. Importantly, we believe this should relieve many of the pressures that had previously led management to conclude that there was doubt about our ability to continue as a going concern. We also expect that this will alleviate the pressures on our borrowing capacity that we have seen from the accelerated terms and prepayment requirements imposed by certain vendors. We anticipate that the waiver of our covenant requirement through the first quarter of 2019, as well as the additional liquidity that we are injecting into the business, will enable us to continue to focus on driving momentum and improving performance throughout the business."

16:10 EDT Point72 Asset Management reports 5.1% passive stake in Vera Bradley

16:07 EDT Prothena says first patient enrolled in PASADENA study - Prothena Corporation (PRTA) announced that the first patient has been enrolled in PASADENA, a global Phase 2 study of PRX002/RG7935 in patients with early Parkinson's disease. PRX002/RG7935 is an anti-alpha-synuclein antibody under investigation as a disease-modifying treatment for Parkinson's disease and is the focus of a worldwide collaboration between Prothena and Roche (RHHBY). The start of the study triggered a $30M milestone from Roche to Prothena, which was earned in the second quarter of 2017. Prothena had previously received $45 million in upfront and development milestone payments.

16:05 EDT Penumbra promotes Daniel Davis to chief commercial officer - Penumbra announced that Daniel Davis has been promoted and will add the title of Chief Commercial Officer to his existing title of President, North America.

16:02 EDT Zumiez reports June SSS up 5.3%

15:52 EDT First Hawaiian vice chairman Fujioka to retire at end of 2017 - First Hawaii Bank chairman and CEO Bob Harrison announced that Robert Fujioka, First Hawaiian Bank Vice Chairman and Chief Lending Officer, plans to retire at the end of this year, after 21 years with the bank, culminating a 43-year banking career. Fujioka will remain with the bank through the end of 2017 to facilitate the Commercial Banking Group's leadership transition, commencing on July 5. Lance Mizumoto, executive vice president and Commercial Real Estate Division manager has been promoted to executive vice president and manager, Commercial Banking Group and he will be joining the bank's senior management committee.

15:32 EDT Novo Nordisk recalls insulin cartridge holders in some NovoPen Echo batches - Novo Nordisk said it is initiating a recall of insulin cartridge holders used in a small number of NovoPen Echo batches because they may crack or break if exposed to certain chemicals, like certain cleaning agents. NovoPen Echo is used for insulin treatment by people with diabetes. Using a device with a cracked/broken cartridge holder may result in the device delivering a reduced dose of insulin which could potentially lead to high blood sugar. Novo Nordisk believes the risk of experiencing high blood sugar when using a device with an affected cartridge holder is low. The affected batches were distributed between 8/1/2016 - 6/22/2017 to distributors, sales representatives and replacement programs for further distribution to pharmacies, healthcare providers and patients nationwide. Novo Nordisk has received numerous complaints of damaged cartridge holders and has received some reports of adverse events to date. Novo Nordisk has corrected this problem and has determined no other component of the pen is affected.

15:10 EDT Prestine Victory reports 5.55% passive stake in Athenex

14:28 EDT Balyasny Asset Management reports 9.32% passive stake in Sunesis

13:47 EDT Alaska Air, Virgin America pilots unable to reach joint contract - Alaska Airlines (ALK) and Virgin America pilots, both represented by the Air Line Pilots Association, announced that mediated negotiations for a joint contract have concluded. "The pilots were unable to reach a tentative agreement for a joint collective bargaining agreement because Alaska Airlines management refuses to recognize that its pilots should earn compensation and benefits in line with their industry peers, and has steadfastly refused to reach an agreement on job-security language that is standard in the industry," the association said in a statement. Pilot negotiations will be resolved in arbitration hearings that begin at the end of August, it added.

12:42 EDT Ethanol producers drop as U.S. said to favor 15B gallon biofuels requirement - Shares of ethanol producers are lower after Bloomberg reported that the U.S. will propose a 15B gallon quota of conventional ethanol, matching the 2017 ceiling in federal law for conventional renewable fuel and a current 2017 requirement for the category mostly fulfilled by corn-based ethanol. DELAY OF 2018 MANDATES: Concerns that refiners will import ethanol from Brazil and biodiesel from Argentina to meet renewable fuel requirements induced EPA chief Scott Pruitt to reconsider quotas for those fuels, delaying the EPA's proposed mandates for 2018, according to a Bloomberg article last week. Bloomberg added that Pruitt may seek revisions, that may include a ratcheting down of the targets "so refiners can rely mostly on U.S.-made biodiesel and corn ethanol." PRICE ACTION: Shares of ethanol producers are underperforming the broader market with Valero (VLO) down 1.25%, Green Plains (GPRE) down 1.7% and Pacific Ethanol (PEIX) down 1.2% in early afternoon trading.

12:18 EDT European Commission approves acquisition of Opel by Peugeot - The European Commission has unconditionally approved the acquisition of Opel (GM) by Peugeot (PUGOY), under the EU Merger Regulation. The Commission concluded that the transaction would raise no competition concerns in the relevant markets. Peugeot S.A. will acquire assets and shareholdings linked to Opel. PSA will thus acquire sole control of the whole of Opel.

11:59 EDT Merck seen as having potential 'category killer' in HIV market - Investors are underestimating the negative impact that upcoming macro trends and potential government actions could have on the HIV drug market, warned Citi. As a result, the firm downgraded GlaxoSmithKline (GSK), whose joint venture, ViiV, has a leading HIV treatment. The firm believes Gilead Sciences (GILD) would have an advantage over other players in the market if the Affordable Care Act, or ACA is not repealed, while Merck's (MRK) HIV treatment, contrary to market expectations, could be a "category killer." The Street, which sees the HIV market as primarily a battle between Gilead and ViiV, has an "oversimplified" view, according to the firm. MACRO FACTORS: The growth of the overall HIV market is slowing "as Medicaid enrollment (spurred by the ACA) plateaus," wrote Citi analyst Andrew Baum today in a research note. Moreover, the repeal and replacement of the ACA could cause the HIV market to decline by increasing the number of people who are uninsured and making insurers and other payers more cost sensitive regarding HIV treatments, the analyst stated. He estimated that if a law is passed that repeals and replaces the ACA, the overall HIV market will decline by $2.3B annually. That is because the number of underinsured people with HIV would increase by about 8,000 and drug prices would drop due to Medicaid caps and potential state waivers, the analyst explained. ViiV, a joint venture of GlaxoSmithKline and Pfizer (PFE), would have a short-term advantage if the ACA is repealed and replaced, according to Baum. GlaxoSmithKline's "likely greater willing willingness to compete on net pricing" would give ViiV the upper hand, the analyst stated. However, the opportunity would disappear after a short time, as Gilead could "preserve pricing for its novel BIC/F/TAF triple yet provide heavy rebates on older drugs Genvoya and Stribild," the analyst stated. He downgraded GlaxoSmithKline to Neutral from Buy and kept a Sell rating on Pfizer. GILEAD: The company would have an advantage if the ACA is not repealed, as it would continue to gain market share, assuming that payers don't adopt "restrictive" policies, wrote Baum. Gilead would have an advantage because clinicians are less concerned about patients developing resistance to its drugs compared with ViiV's treatments, the analyst stated. However, he expects ViiV to do better outside of the U.S. because payers there are more price sensitive. MERCK: The company's EFdA treatment can be "a category killer" in both patients with HIV who have not yet been treated and as an HIV prevention mechanism, according to Baum. He expects the treatment to be approved in 2021 for people with HIV who have not yet been treated and in 2022 as a prevention mechanism. The analyst says that analysts have not yet factored the drug into their estimates. BETTER STOCKS: Baum prefers the shares of AstraZeneca (AZN), Roche (RHHBY), Bayer (BAYRY), Bristol-Myers (BMY) and Eli Lilly (LLY) over the stocks previously named. He kept Buy ratings on AstraZeneca, Roche, Bayer, Bristol-Myers and Eli Lilly. PRICE ACTION: In morning trading, GlaxoSmithKline lost 0.7% to $42.45, Pfizer also fell 0.7% to $33.60, Gilead inched down 0.1% to $70.60, and Merck fell 0.3% to $64.

11:44 EDT General Electric, YPF secure financing for thermal power projects in Argentina - General Electric (GE), through its energy investing unit GE Energy Financial Services, and YPF Energia Electrica, a wholly owned subsidiary of YPF (YPF), have secured an approximate $220M project financing for two jointly owned thermal power projects in Argentina, the 267-MW Tucuman and 107-MW Loma Campana II projects. Citi (C), Credit Suisse (CS) and Export Development Canada jointly led the financing, which represent the first power plant project financing in Argentina in almost 20 years. Tucuman and Loma Campana II are both more than halfway through construction. The Tucuman project, located in Tucuman province, will be powered by a GE 9F.04 gas turbine and will begin commercial operations in February 2018. The Loma Compana II project, located in Neuquen province, will be powered by a GE LMS100 gas turbine and will begin commercial operations in December. GE is the EPC contractor for both projects.

11:23 EDT Auto retailers fall after O'Reilly announces comp sales miss - Shares of auto retailers are falling after O'Reilly Automotive (ORLY) reported second quarter same-store-sales that were below previous expectations. SSS MISS: O'Reilly Automotive reported Q2 comparable store sales results of 1.7%, which fell short of previously issued Q2 comparable store sales guidance of 3%-5%. CEO Greg Henslee stated, "After exiting Q1 and entering April on an improved sales trend, we faced a more challenging sales environment than we expected for the remainder of the quarter." Henslee added that the Q2 comp sales results of 1.7% represent an improvement over our Q1, but fell below the 3%-5%, "due to what we believe were continued headwinds from a second consecutive mild winter and overall weak consumer demand." The executive said the comparable store sales shortfall will have a "consequent impact on our operating profitability." O'Reilly is expected to report full results for the second quarter on July 26 after the market close. ANALYST COMMENTARY: Following the lower than expected Q2 preannouncement, Raymond James analyst Dan Wewer lowered his price target on O'Reilly Automotive to $250 from $310 and said he is bullish long-term, but is disappointed with ongoing sales challenges facing the company and the industry. BTIG analyst Alan Rifkin also lowered his price target for O'Reilly to $243 from $310 and said he believes the sustained comp weakness suggests sales are being impacted by factors other than income tax delays and weather. Nonetheless, the analyst thinks O'Reilly's long-term fundamentals remain strong. PRICE ACTION: In morning trading, O'Reilly Automotive was down 20.5% to $175.23. PEERS ALSO DROPPING: O'Reilly peers also declining include Advance Auto Parts (AAP), down 15%, AutoZone (AZO), down 9.6%, Genuine Parts (GPC) dropping 4.2%, and U.S. Auto Parts (PRTS), down 3.3%.

10:45 EDT AK Steel sees Precision Partners to be EPS, margin accretive in one year - Comment from AKS presentation slides on Precision Partners acquisition.

10:42 EDT JANA Partners sends letter to EQT board, says 'little logic' for Rice deal - JANA Partners said in a regulatory filing that "JANA and industry experts with whom we have partnered together own almost 6% of the outstanding shares of EQT Corporation (EQT). We invested in EQT because we believe that the Company trades at a substantial discount to its intrinsic value and has a ready opportunity to unleash this value potential by immediately separating its E&P and midstream businesses into two separate companies, which we estimate could create as much as $4.5 billion of value for EQT shareholders, particularly when considering the strategic opportunities it would create. This view has been seconded by our investment partners and potential Board nominees, who led the Atlas Energy complex of companies to create billions of dollars of shareholder value through transactions including a separation of that company's Marcellus-based E&P and midstream businesses. We were therefore astounded by the news that, rather than pursuing substantial and certain value creation through a separation, EQT is proposing an acquisition of Rice Energy (RICE) at a substantial premium which would delay the possibility and potentially increase the cost of an EQT separation, dilute EQT shareholders' upside from a future separation, unnecessarily increase the complexity of EQT, and immediately destroy shareholder value... Management may argue for the transaction based on the claimed industrial logic of upstream consolidation. However there is little such logic apparent in this proposed acquisition apart from enabling the Company to drill longer laterals, and any improvement in future well returns that this would result in is already accounted for in the claimed synergy value of the transaction to EQT shareholders, which as explained above is dwarfed by the acquisition premium they would be paying. There is no unique science, technology, or know-how that would be obtained by acquiring Rice that could be applied by EQT to improve operations. Likewise, EQT management's announced drilling program does not accelerate the standalone Rice plan and therefore does not pull forward reserves that Rice was unable to exploit in a timely fashion.In short, a Rice acquisition would result in EQT paying away more than the value of the transaction synergies, the majority of which are questionable or fall outside any common sense definition of synergies, to Rice shareholders and using shares which EQT management itself acknowledges are undervalued, thus substantially diluting the value of an eventual separation to current EQT shareholders by transferring much of their upside potential to Rice shareholders. For these reasons, we intend to oppose this transaction and we believe based on our discussions with other shareholders that most other EQT shareholders will as well, particularly as the facts about the proposed acquisition are more widely understood."

10:20 EDT G. Willi-Food expects to nominate CEO soon to replace Graiver - G. Willi-Food Internationalannounced that the company's Board of Directors has ended Iram Graiver's term of office as President of the company. The company expects to nominate a CEO in the coming days to replace Mr. Graiver.

10:08 EDT Battleground: Analyst diverge on Tesla after production update - Following Monday's update, Guggenheim analyst Robert Cihra raised his price target for Tesla (TSLA), saying that despite disappointing delivery numbers, the bigger news is the revelation that production of the new Model 3 is on track to start in July. His peer at KeyBanc also remained "positively biased" on Tesla, citing similar reasons. However, their peer at Cowen was not as bullish on the electric vehicle maker, arguing that the Model 3 ramp seems "aggressive" and Tesla stock looks "overvalued." TESLA UPDATE: On Monday morning, Tesla CEO Elon Musk tweeted, "Model 3 passed all regulatory requirements for production two weeks ahead of schedule. Expecting to complete SN1 on Friday. Handover party for first 30 customer Model 3's on the 28th! Production grows exponentially, so Aug should be 100 cars and Sept above 1500. Looks like we can reach 20,000 Model 3 cars per month in Dec." This was later confirmed by a press release issued by the company. Tesla also disclosed that it delivered just over 22,000 vehicles in the second quarter, of which just over 12,000 were Model S and just over 10,000 were Model X. "The major factor affecting Tesla's Q2 deliveries was a severe production shortfall of 100 kWh battery packs, which are made using new technologies on new production lines. [...] Once this was resolved, June orders and deliveries were strong, ranking as one of the best in Tesla history. Provided global economic conditions do not worsen considerably, we are confident that combined deliveries of Model S and Model X in the second half of 2017 will likely exceed deliveries in the first half of 2017." ANALYST UPS TARGET: In a note to investors this morning, Guggenheim's Cihra raised his price target for Tesla to $430 from $380 and reiterated a Buy rating on the name. While the analyst noted that early production constraints of its new high-end 100kWh battery packs led to second quarter deliveries of just 22,000, below his 23,900 estimate, he views the bigger news on Monday as the revelation that production of the new Model 3 is on track to start in July. Cihra pointed out that he believes most thought the target would not be met just a few months ago and noted that the Model 3 represents Tesla's first car to genuinely launch on schedule. Furthermore, the analyst argued that he expects two-to-three years of "upside leverage to also now start as volumes ramp off Tesla's high fixed-cost structure". Meanwhile, KeyBanc analyst Brad Erickson told investors in a note of his own that the company's usual preannouncement missed expectations, but he remains "positively biased" on Tesla as the Model 3 appears on schedule, which could result in the stock rising in the near-term. Nonetheless, Erickson argued that the company's delivery report confirms his thesis that "demand run-rates for Tesla's high-end products is plateauing, if not peaking." With Model 3 profitability appearing "unlikely to meet expectations, he added, the analyst reiterated a Sector Weight rating on the shares. SHARES REMAIN OVERVALUED: More bearish on Tesla, Cowen analyst Jeffrey Osborne told investors that the company's second quarter deliveries came in 2,500 units below his expectations. He reiterated an Underperform rating on its shares. Regarding Tesla CEO Elon Musk's tweets on Model 3 production, Osborne wrote that while it "is nice to see Tesla finally hit a stated target on time," he questions whether 30 vehicle deliveries essentially built by hand count as "mass production." Further, the analyst said he is surprised that this "mass market" vehicle does not have official photos, options, pricing or really any details available. Osborne continues to view Model 3 ramp expectations as aggressive and believes Tesla's shares are overvalued. PRICE ACTION: In morning trading, shares of Tesla have dropped over 4% to $337.05.

10:01 EDT Comtech awarded $14.5M contract modification from DISA - Comtech Telecommunications announced that during its fourth quarter of fiscal 2017, its Command & Control Technologies group, which is part of Comtech's Government Solutions segment, has received a $14.5M contract modification from the Defense Information Systems Agency. The modification will result in the exercise of the fourth-year option under an existing contract to provide Ku satellite bandwidth and support services for the U.S. Marine Corps' Tactical Satellite Communications Network. The fourth option year covers the period from August 1, 2017 through July 31, 2018. The customer has now funded $73M to date on this contract. Comtech is providing the Marine Corps with commercial satellite services to various terminals to extend the Marine Corps Enterprise Network for deployed users. This order was issued under the joint DISA/ The U.S. General Services Administration Future Commercial SATCOM Acquisition program. DISA and GSA are managing this procurement through the $2.6B Custom SATCOM Solutions contract vehicle. Comtech is one of eight prime contract awardees of CS2.

09:45 EDT Cowen names Ann Neidenbach as Chief Information Officer - Cowen announced that Ann Neidenbach, who joined the firm upon the closing of the company's recent acquisition of Convergex, has been appointed Managing Director and Chief Information Officer and will direct the firm's global strategic technology innovations across all business lines. In addition, Kelly Weigel was promoted to Head of Marketing and Client Services and will oversee the coordination of the firm's global corporate access, marketing and communications initiatives. Finally, Patrice Growney Aitken has joined Cowen's Equity Sales and Trading team as Managing Director and Head of Mid-Atlantic Equity Sales.

09:25 EDT U.S. Gold completes acquisition of Gold Bar North mining claims - US Gold Corp announced that it has completed the acquisition of the Gold Bar North mining claims. The Gold Bar North Property consists of 49 unpatented lode mining claims in Eureka County, Nevada. The only financial obligation required to maintain these claims are the annual federal and county fees. GBN consists of 49 unpatented lode mining claims situated in Eureka County, Nevada, in Sections 29, 30, 31, and 32, Township 23 North, Range 49 East, and Sections 5 and 6, Township 22 North, Range 49 East, Mount Diablo Base Line and Meridian.

09:22 EDT Arista: ITC orders in full effect, barred from selling infringed products in US - In a regulatory filing, Arista Networks announced the completion of the Presidential review period for International Trade Commission Investigation No. 337-TA-945. Cisco Systems (CSCO) initially filed a complaint in the 945 Investigation accusing Arista of infringing six patents. The Commission issued a Final Determination in the investigation on May 5, 2017, finding that Arista's Ethernet switching products did not violate section 337 of the Tariff Act with respect to four of the six patents under investigation but did infringe certain claims of two patents. Accordingly, the ITC issued a limited exclusion order and cease and desist order concerning Arista's Ethernet switching products. During the 60-day Presidential review period, the ITC Orders permitted Arista to continue importing and selling products covered by the orders so long as Arista paid a 5% bond. Because the United States Trade Representative did not disapprove the ITC's final determination, the limited exclusion order and cease and desist order are now in full effect, and Arista is barred from importing and selling infringing covered products in the United States. In separate proceedings in the Patent Trial and Appeal Board on May 25, 2017 and June 1, 2017, the PTAB issued final written decisions invalidating all claims of the '577 and '668 patents that Arista was found to infringe by the ITC. Accordingly, on May 30, 2017 and June 2, 2017, Arista filed emergency motions with the ITC seeking suspension of the ITC Orders pending completion of any appeals of the PTAB decisions. On June 12, 2017, Cisco filed a brief in response objecting to any suspension of the ITC Orders, while the staff attorney from the Office of Unfair Importation Investigations, a neutral third party representing the interests of the public in ITC investigations, also filed a brief in support of the requested suspension. As of July 3, 2017, the ITC has not ruled on Arista's motion to suspend. Arista has been working on modifying its products to address the ITC Orders. If the ITC does not suspend the ITC Orders, Arista intends to release these modified products as soon as practicable and work with customers on their qualification and deployment. Arista will also seek appropriate regulatory approvals for these modified products.

09:18 EDT Brightree acquires AllCall Connect, terms not disclosed - Brightree, a wholly-owned subsidiary of ResMed, announced that it has acquired AllCall Connect, a provider of a live-calling solution for CPAP patient resupply. The acquisition will allow Brightree to enhance its Brightree Connect offering, the most widely used resupply patient contact management solution in the HME industry. By combining the technology, analytics and real-time patient information in Brightree Connect with the expertise and best practices of AllCall's live-calling program, HME providers will have access to a resupply solution that is second-to-none in maximizing both patient care and business efficiency. The transaction's financial terms were not disclosed.

09:16 EDT Terreno Realty acquires Newark, N.J. property for $13.2M - Terreno Realty Corporation acquired an industrial property in Newark, New Jersey on June 30, for a purchase price of approximately $13.2M. The property, at 178 Stockton Street, is vacant. The estimated stabilized cap rate of the property is 5.4%.

09:15 EDT On The Fly: Pre-market Movers - HIGHER: Monogram Residential Trust (MORE), up 22.5% after announcing that it will be acquired for $12 per share in cash by a newly formed perpetual life fund, Greystar Growth and Income Fund... DryShips (DRYS), up 35% after announcing time charter contract for its second Newcastlemax vessel... Celsion (CLSN), up 27% after announcing the completion of its OVATION study. LOWER: Diebold (DBD), down 10.5% after reducing its fiscal 2017 adjusted earnings per share guidance... O'Reilly Automotive (ORLY), down 9.3% after reporting second quarter same-store sales results... Advance Auto Parts (AAP) is down 7% and AutoZone (AZO) is down 4.3% following O'Reilly's Q2 SSS announcement.

09:08 EDT Independence Realty Trust completes acquisition of Raleigh-Durham community - Independence Realty Trust announced it has completed three transactions in June, aggregating $70.6M, related to its ongoing capital recycling strategy. On June 30, IRT completed the acquisition of a 328-unit apartment community located in Durham, North Carolina for $42.95M and during June 2017, IRT sold two class C communities, a 200-unit community in Newport News, Virginia on June 1 and a 354-unit community in Indianapolis, Indiana on June 9, for a combined sale price of $27.6M. IRT expects to recognize a gain of approximately $7.8M associated with the sales in the quarter ending June 30. Both communities were classified as held for sale.

09:08 EDT DryShips announces time charter contract for second Newcastlemax vessel - DryShips has taken delivery of its second previously announced 205,123 DWT Newcastlemax drybulk vessel built in 2013. The vessel will be employed under a time charter contract with a major coal and steel trader for a gross rate linked to the new Baltic Capesize Index plus 20%.

09:05 EDT Prana reports PBT434 lowers alpha-synuclein and prevents neurodegeneration - Prana Biotechnology announced the article "The novel compound PBT434 prevents iron-mediated neurodegeneration and alpha-synuclein toxicity in multiple models of Parkinson's disease" was accepted for publication in the peer reviewed journal Acta Neuropathologica Communications. The publication is the culmination of ten years of research from scientists at the Florey Institute of Neuroscience and Mental Health, investigating compounds from Prana Biotechnology's propriety chemical library. The novel drug candidate PBT434 is the first of a new generation of small molecules from the quinazolinone class of drugs that was specifically designed to block the accumulation and aggregation of alpha-synuclein, an abundant brain protein widely believed to be involved in the pathogenesis of Parkinson's disease and related disorders. Not only was PBT434 shown to block alpha-synuclein accumulation, but it also prevented loss of nerve cells in the region of the brain primarily affected in Parkinson's disease, called the substantia nigra. To investigate the therapeutic potential of PBT434 to slow neurodegeneration, the researchers performed extensive animal testing in multiple Parkinson's disease models, including tests in mice that over-expressed the alpha-synuclein protein. These results showed that PBT434 lowered alpha-synuclein and its toxic effects and simultaneously improved motor performance. If these findings are also observed in patients with diseases caused by alpha-synuclein, PBT434 could address a significant unmet medical need in preventing their progression. The key findings from the publication in Acta Neuropathologica Communications are: PBT434 prevents the formation of toxic alpha synuclein fibrils, prevents the formation of insoluble alpha synuclein in animals, prevents alpha synuclein mediated oxidative stress that induces cell death, protects against cell death and preserves neuronal circuitry in both transgenic and toxin mouse models of Parkinson's disease, improves motor behaviour in Parkinson's disease mouse models and normalises brain iron distribution. The required animal testing has been completed and PBT434 is expected to begin human testing in a Phase 1 trial later this year.

09:04 EDT Perrigo launches generic version of Eli Lilly's Axiron topical solution - Perrigo (PRGO) announced the prescription pharmaceutical launch of testosterone topical solution, 30 mg/1.5 mL, the generic equivalent to Eli Lilly's (LLY) Axiron Topical Solution, 30 mg/1.5 mL. Annual market sales for the 12 months ending April 2017 were approximately $248M. Perrigo Executive Vice President and President Rx Pharmaceuticals John Wesolowski stated, "This is our third new product launch in the last two weeks. These new product launches illustrate our continued focus on developing and bringing to market important treatments in prescription extended topical therapeutic categories. The Rx team remains committed to investing in complex topical products and to launching more than five new products by the end of 2017."

09:02 EDT Delta Air Lines reports June total system traffic up 2.8%

09:02 EDT Carlisle acquires Drexel Metals - Carlisle Companies announced the acquisition of Drexel Metals, a provider of architectural standing seam metal roofing systems for commercial, institutional and residential applications. With annual sales of approximately $50M and 65 employees, Drexel Metals is headquartered in Louisville, Kentucky, and has facilities in Maryland, Pennsylvania, Colorado and Florida from which it serves over 700 customers. Drexel designs and fabricates metal roofing systems for both residential and non-residential applications. Drexel both fabricates its products in its facilities and offers distributors and installers a field fabrication program backed by the company's premium brand, marketing support, training, testing and warranties. The business will operate as a unit within Carlisle Construction Materials, a manufacturer of a complete range of roofing and waterproofing products for commercial and industrial buildings, including single-ply roofing, rigid foam insulations, below grade waterproofing and air/vapor barrier systems.

08:59 EDT Assured Guaranty responds to approval of PREPA's bankruptcy filing - Assured Guaranty released the following comments regarding the approval of the Puerto Rico Electric Power Authority's Title III bankruptcy filing by the Financial Oversight and Management Board for Puerto Rico: Dominic Frederico, president and CEOsaid, "As we indicated last week, the Oversight Board has once again chosen to disregard the rule of law and a fundamental purpose of the Puerto Rico Oversight, Management and Economic Stability Act - implementing consensual restructurings that solve fiscal problems and allow Puerto Rico to regain access to the capital markets. The Restructuring Support Agreement would have provided: significant liquidity and debt relief, lower rates for ratepayers, funds for capital improvements and access to lower cost of capital. By rejecting the RSA and approving a Title III bankruptcy, the Oversight Board has shown that it has no intention of seeking consensual resolutions and is instead committed to reneging on as many of Puerto Rico's obligations to stakeholders as possible. This will lead to years of expensive and time-consuming litigation. We continue to believe the pre-existing PREPA RSA, which was approved by two Puerto Rico governors, the Puerto Rico Legislature, the Puerto Rico Energy Commission and the PREPA Board, represents the best path forward for PREPA, the Commonwealth and the residents of Puerto Rico. We believe that it is in the best interests of all parties involved that the Trump Administration and US Congress step in and restore the rule of law to avoid years of litigation and many wasted expenses for Puerto Rico."

08:51 EDT Oramed announces dual-listing on Tel Aviv Stock Exchange - Oramed Pharmaceuticals announced that it has received approval from the Israel Securities Authority to dual-list its common stock on the Tel Aviv Stock Exchange. Oramed common stock will commence trading on the TASE on July 12, 2017 under the ticker ORMP. Based on the current market capitalization of the company, it is expected that Oramed will be included in the TA SME-60 index.

08:40 EDT Dare Bioscience urges Cerulean shareholders to vote for management proposals - Cerulean Pharma and Dare Bioscience announced that Dare founder and CEO Sabrina Martucci Johnson mailed the following letter to Cerulean stockholders of record at the close of business on June 9 outlining the Dare value proposition and requesting they vote for all of the management proposals at the upcoming special meeting of stockholders to be held on July 19. The letter included, "As the founder and CEO of Dare Bioscience, I am excited by the prospect of Dare combining with Cerulean Pharma. Dare is a healthcare company committed to the development and commercialization of innovative products in women's health. We believe a segment of this market is underserved, which gives us an opportunity to create value for stockholders...In connection with the proposed combination of Dare and Cerulean, Cerulean has filed with the SEC a definitive proxy statement that describes the combination in detail. Stockholders may obtain a copy of the definitive proxy statement without charge at the SEC's website or from Cerulean's proxy solicitor. Before making any voting decision, I urge you to read the definitive proxy statement filed with the SEC June 19 and any other documents that may be filed with the SEC regarding the special meeting and the proposed transactions in their entirety because they contain or will contain important information about the proposed transaction, the combined business and Ovaprene. The Cerulean coard unanimously recommends stockholders vote "FOR" all of the following proposals to be considered at the special meeting: To approve the sale of Cerulean's Dynamic Tumor Targeting Platform technology pursuant to the terms of the Novartis (NVS) Asset Purchase Agreement; To approve the issuance of shares of Cerulean common stock pursuant to the terms of the Dare Stock Purchase Agreement; To approve and adopt an amendment to Cerulean's Restated Certificate of Incorporation to effect a reverse stock split of Cerulean common stock, at a ratio ranging from 1-for-10 to 1-for-20, as determined by the Cerulean Board; and, To adjourn the special meeting to solicit additional votes to approve the Novartis Asset Sale Proposal, the Dare Share Issuance Proposal or the Reverse Stock Split Proposal, if necessary.

08:36 EDT Reed's appoints Val Stalowir as CEO, interim CEO Stefan Freeman named COO - Reed's named Val Stalowir as CEO. In conjunction with his appointment as CEO, Stalowir will also serve on the company's board. The company also announced today that Stefan Freeman, who has been on the board since late last year and had served as Interim CEO since April, would continue with the company in the role of COO.

08:34 EDT FuelCell enters renewable power project agreement with California city - FuelCell executed a digester gas purchase agreement and site lease with the City of Tulare, California. The quantity of renewable biogas contracted is sufficient to support a 2.8 MW SureSource 3000TM fuel cell power plant. The digester gas agreement enables FuelCell Energy to proceed under the State of California Bioenergy Market Adjustment Tariff program to execute a twenty year power purchase agreement with the electric utility SCE to purchase the renewable and carbon neutral power for supply to the California electric grid. FuelCell Energy will install, operate and maintain a fuel cell power plant operating on the City's biogas, to be located at the City of Tulare waste water treatment facility.

08:33 EDT Diebold adjusts financial outlook for 2017

08:32 EDT Morningstar names Jason Dubinsky CFO, effective July 24 - Morningstar (MORN) has appointed Jason Dubinsky as CFO, reporting to Kunal Kapoor, Morningstar's CEO, effective July 24. Dubinsky joins Morningstar with over two decades of financial and operating leadership, most recently serving as senior vice president and chief financial officer of planning and central operations for Walgreens Boots Alliance (WBA), where he was responsible for accounting and shared service functions for Walgreens' U.S. operations and led the FP&A function for the global business

08:31 EDT American Outdoor Brands' Smith & Wesson to acquire Gemini Technologies - American Outdoor Brands Corporation announced that its firearms business, Smith & Wesson Corp., has agreed to acquire substantially all of the assets of Gemini Technologies, or Gemtech, a provider of high quality suppressors and accessories for the consumer, law enforcement, and military markets. The company intends to complete the acquisition of Gemtech utilizing cash on hand and expects the transaction to close this summer. Ron Martinez, President of Gemtech, will continue in his leadership role as General Manager, heading up the company's strong team located in Eagle, Idaho.

08:18 EDT Phibro Animal Health to license poultry vaccine technology to Zydus Cadila - Phibro Animal Health and Zydus Cadila intend to enter into a long-term arrangement to license Phibro's innovative poultry vaccine technologies and know-how to a new vaccine manufacturing facility to be built by Zydus Cadila to serve the poultry market in India.

08:15 EDT Arch Capital completes AIG United Guaranty Insurance Limited acquisition - Arch Capital Group announced that on July 1, it completed its previously announced acquisition of AIG United Guaranty Insurance Limited from American International Group (AIG). Arch plans to immediately change the name of the company to operate as Arch MI Asia Limited. Arch MI Asia will focus on expanding origination opportunities for lenders in Hong Kong and throughout Asia. Arch's operational, managerial and risk management experience, together with the local expertise of Arch MI Asia's management team, will ensure operational consistency for existing customers and reliability as a counterparty to potential customers.

08:14 EDT O'Reilly Automotive reports Q2 SSS up 1.7% - O'Reilly Automotive reported Q2 comparable store sales results of 1.7%, which fell short of previously issued Q2 comparable store sales guidance of 3% to 5%. CEO Greg Henslee stated, "After exiting Q1 and entering April on an improved sales trend, we faced a more challenging sales environment than we expected for the remainder of the quarter. Our Q2 comparable store sales results of 1.7% represent an improvement over our Q1, but fell below our guidance of 3% to 5%, due to what we believe were continued headwinds from a second consecutive mild winter and overall weak consumer demand. The comparable store sales shortfall will also have a consequent impact on our operating profitability."

08:13 EDT Vantiv, Worldpay agree to key terms of possible offer - Following the Possible Offer Announcement dated July 4, the boards of directors of Worldpay Group and Vantiv announced that they have reached an agreement in principle on the key terms of a potential merger of Worldpay and Vantiv. Under the terms of the Potential Merger, the ordinary shareholders of Worldpay would receive: For each ordinary share in Worldpay: GBP 0.55 in cash; and 0.0672 new Vantiv shares. Worldpay Shareholders would also be entitled to a cash dividend of 5 pence per Worldpay Share, in place of any anticipated interim dividend payment to be declared and approved by the Board of Worldpay by the time of Worldpay's Half Year Results 2017. The total value to Worldpay Shareholders would be GBP 3.85 per Worldpay Share comprising the 5 pence dividend payment and GBP 3.80 per Worldpay Share under the terms of the Potential Merger, based on the closing share price of Vantiv on July 3 of $62.51. Following completion of the Potential Merger, Worldpay Shareholders would own approximately 41% of the share capital of the Combined Group on a fully diluted basis. The Combined Group will bring together the best of both companies' management to create a world class leadership team. To ensure a successful and smooth integration, the Combined Group will be led by Charles Drucker as Executive Chairman and Co-CEO and Philip Jansen as Co-CEO, with Stephanie Ferris as CFO. The Board of the Combined Group will consist of 4 Worldpay Directors and 7 Vantiv Directors, with both Sir Michael Rake and Jeffrey Stiefler continuing to serve on the Board in non-executive positions. Following completion of the Potential Merger, Worldpay Shares will be delisted from the London Stock Exchange. Common stock in Vantiv, which will be the ultimate holding company of the Combined Group, will continue to be listed on The New York Stock Exchange. Discussions between the parties remain ongoing regarding the other terms and conditions of the Potential Merger. Worldpay and Vantiv will proceed with a mutual due diligence process. The terms and conditions of any offer if made will be set out in a further announcement. There can be no certainty that any transaction will occur. Vantiv reserves the right, with the agreement or recommendation of the Worldpay Board, to make an offer for Worldpay, at any time, (a) on less or more favourable terms than the Potential Merger described above; and (b) varying the exchange ratio and/or cash consideration component and/or introducing other forms of consideration. Vantiv reserves the right to reduce the consideration in the event a dividend is declared and paid or becomes payable by Worldpay above the agreed 5 pence dividend. Completion of the Potential Merger will be subject to shareholder approvals and receipt, on satisfactory terms, of regulatory and merger control approvals as appropriate, as well as other customary conditions.

08:11 EDT Soleno Therapeutics completes FDA meeting for DCCR Phase 3 program - Soleno Therapeutics has received the minutes from a scientific advice meeting from the FDA regarding Diazoxide Choline Controlled-Release for the treatment of Prader-Willi syndrome. PWS is a rare and complex genetic neurobehavioral/metabolic disorder affecting appetite, growth, metabolism, cognitive function, and behavior. DCCR has Orphan Designation for the treatment of PWS in the U.S. The dosing paradigm proposed by the company for the study was accepted. Soleno will finalize the design of a Phase III, randomized, double-blind placebo-controlled study which will treat approximately 100 patients. The study is expected to start, subject to final agreement by the FDA, at the end of 2017 and will take approximately 9-12 months to complete. The company expects to initiate this Phase III trial before the end of 2017.

08:10 EDT Celsion announces completion of OVATION study - Celsion provided an update on its Phase Ib dose escalating clinical trial, the OVATION Study, combining GEN-1, the Company's IL-12 gene-mediated immunotherapy, with neoadjuvant chemotherapy for the treatment of newly-diagnosed patients with Stage III and IV ovarian cancer followed by interval debulking surgery. The last patient in the 4th dose cohort has completed their GEN-1 treatment which allows for a safety evaluation by the company's Data Safety Monitoring Board, or DSMB, in mid-July. The company recently announced the latest clinical findings from the OVATION Study in a poster presentation at the American Society of Clinical Oncology, or ASCO, 2017 Annual Meeting. The presentation summarized clinical findings and translational data from all fourteen patients treated in the trial to-date. Of the fourteen patients treated to date, two patients demonstrated a complete response, tenpatients demonstrated a partial response and two patients demonstrated stable disease, as measured by RECIST criteria. This translates to a 100% disease control rate, or DCR, and an 86% objective response rate, or ORR. Of the five patients treated in the highest dose cohort, there was a 100% objective response rate with one complete response and four partial responses. Fourteen patients had successful resections of their tumors, with nine patients having an R0 resection, which indicates a margin-negative resection in which no gross or microscopic tumor remains in the tumor bed. Of the five patients treated at the highest dose cohort, all five patients experienced a R0 surgical resection.

08:06 EDT Second Sight announces two implants of Argus II in South Korea - Second Sight Medical Products announced market entry into South Korea, implanting two patients with the company's Argus II Retinal Prosthesis System in Seoul. The implants were facilitated by the country's exclusive distribution partner, Kisantech Co. A second patient in Taiwan also received the company's Argus II. This surgical procedure was facilitated by Orient Europharma Co., Second Sight's exclusive distribution partner for Taiwan.

08:05 EDT Advanced Energy acquires Ireland-based Excelsys Technologies for EUR15.5M - Advanced Energy has acquired Excelsys Holdings, a privately held company based in Cork, Ireland. Excelsys designs and manufactures power supplies for a variety of industrial markets. This new product line allows Advanced Energy(R) (AE(R)) to expand its addressable market. Advanced Energy has acquired Excelsys in an all-cash transaction for EUR15.5M. Excelsys' 2016 audited revenues were EUR10.2M and the acquisition is expected to be immediately accretive to earnings.

08:04 EDT Enterprise raises quarterly dividend 5% to 42c per share - Enterprise Products Partners announced that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to 42c per common unit, or $1.68 per unit on an annualized basis. The quarterly distribution will be paid on Monday, August 7, to unitholders of record as of the close of business on Monday, July 31. This distribution, which represents a 5% increase over the distribution declared with respect to 2Q16, is the 61st distribution increase since Enterprise's initial public offering in 1998 and the 52nd consecutive quarterly increase.

08:03 EDT Auris Medical completes enrollment of AM-111 Phase 3 HEALOS trial - Auris Medical announced that it has completed patient enrollment in the Phase 3 HEALOS clinical trial of AM-111 in idiopathic sudden sensorineural hearing loss, or ISSNHL, also known as sudden deafness. Top-line results from the HEALOS trial are expected in the fall of 2017.

08:03 EDT Recro Pharma acquires novel neuromuscular blocking agents - Recro Pharma announced the acquisition of exclusive global rights to two novel neuromuscular blocking agents, or NMBs, and a proprietary chemical reversal agent from Cornell University. The assets include one novel intermediate-acting neuromuscular blocking agent that has completed Phase I trials, one short-acting neuromuscular blocking agent, as well as a rapid-acting reversal agent proprietary to these compounds. The novel neuromuscular blocking agents acquired through this agreement permit a very rapid induction of neuromuscular blockade at the onset of use and the novel reversal agent will provide for more rapid reversal of the neuromuscular blockade. These novel agents may meaningfully reduce the patient's post-procedure time in the operating room or post-acute care unit and could provide valuable cost savings to hospitals and ambulatory surgical centers.

08:02 EDT U.S. Physical Therapy announces nine-clinic group acquisition - U.S. Physical Therapy announced that the company has just completed the acquisition of a nine-clinic physical therapy practice. USPH acquired a 60% interest with the practice's clinical owners retaining 40%. The purchase price was $16.3M. The business generated $8.6M in revenue in 2016. There were 92,000 patient visits at an average net rate of approximately $94 per visit.

08:00 EDT GOL Linhas sees June quarter operating margin 1.5%-2% - GOL Linhas Aereas Inteligentes provides its Investor Update. The information below for the quarter ended in June 2017 is preliminary and unaudited. GOL expects an operating margin for the quarter ended in June of 1.5-2.0%, an increase of approximately 1000 b.p. over the quarter ended in June 2016 of -8.2%, excluding non-recurring expenses. Passenger unit revenue for the second quarter was up 7.5-8.0% year over year, as GOL's capacity discipline and revenue management strategies continue to benefit results. For the quarter ended in June, GOL expects unit revenue to increase 8.5-9.0%. Non-fuel unit costs, excluding non-recurring expenses, are expected to be reduced approximately 4% for the second quarter 2017 versus same quarter of the prior year. GOL reduced its total debt, including financial and operating leasing, by approximately R$100 million in the quarter, totaling more than R$4.8B debt reduction in the last 18 months.

07:52 EDT CONMED acquires ExoShape ACL Fixation System from MedShape - MedShape said it has reached a definitive agreement with CONMED Corporation for CONMED to acquire the ExoShape ACL Fixation System. The acquisition, which closed July 3, 2017, includes both the ExoShape FEMORAL and TIBIAL Soft Tissue Fasteners, used to fixate soft tissue grafts in anterior cruciate ligament reconstruction surgery.

07:47 EDT ATI, GE Aviation announce meltless titanium joint venture - Allegheny Technologies Incorporated (ATI) announced a joint venture with GE Aviation (GE) for the development of a new meltless titanium alloy powder manufacturing technology. The JV will construct a new R&D pilot production facility. The titanium alloy powders are being developed for use in additive manufacturing applications, including 3D printing. ATI will provide operational, technical, and project support to the joint venture. The joint venture will leverage ATI's technology, manufacturing, and quality leadership in the production of specialty metal powders and premium-quality titanium and nickel-based alloys for critical and technically advanced applications. The JV will also draw upon GE Aviation's engineering and development capabilities and technical knowledge of the use of alloyed titanium powders.

07:36 EDT Cytokinetics reports patient baseline data from SMA candidate Phase 2 trial - Cytokinetics (CYTK) presented data relating to patient baseline characteristics and the reasons for patient screen failure, both from the first cohort of the Phase 2 clinical trial of CK-2127107 in spinal muscular atrophy, at the Cure SMA 2017 Annual SMA Conference in Orlando. In collaboration with Astellas Pharma (ALPMY), Cytokinetics is developing CK-2127107 as a potential treatment for people living with SMA and certain other debilitating diseases and conditions associated with skeletal muscle weakness and/or fatigue. Screen failures in Cohort 1 were primarily due to a Hammersmith Functional Motor Scale Expanded score that was either too high in ambulatory patients or too low in non-ambulatory patients. There were no statistically significant differences otherwise in the baseline demographics of enrolled patients compared to screen failures.

07:33 EDT FTC ends investigation into Cabela's, Bass Pro merger - Cabela's disclosed that the Federal Trade Commission Monday notified the company and Bass Pro Group that it had closed its investigation of the proposed merger. As a result, under the terms of the timing agreement that Bass Pro previously entered into with the FTC, the commitment of the companies not to close the merger has expired. The consummation of the merger remains subject to other closing conditions, including the approval of the Cabela's stockholders at the special meeting to be held on July 11. Shares of Cabela's in premarket trading are up 85c to $60.30.

07:31 EDT CME Group reports Q2 ADV 16.5M contracts, up 7% y/y - CME Group announced that second-quarter 2017 average daily volume reached 16.5 million contracts, up 7% from second-quarter 2016. CME Group second-quarter 2017 options volume averaged 3.6 million contracts per day, up 21% versus second-quarter 2016, with electronic options averaging 2.2 million contracts per day, up 30% over the same period last year. Second-quarter 2017 Interest Rate options and Energy options average daily volume grew 37% and 22%, respectively. Open interest at the end of June was 113 million contracts, up 7% from the end-of-June 2016.

07:09 EDT Jernigan Capital closes $49.7M in self-storage development investments - Jernigan Capital announced that it has closed three new self-storage development investment commitments totaling $49.7M as follows: $26.5M in a proposed 40,593 net rentable square feet, 1,424-unit multi-story climate controlled facility in New York City. Construction is expected to begin in Q3 and be completed by the end of 2Q18. $14.1M in a proposed 93,738 net rentable square feet, 951-unit multi-story primarily climate controlled facility in the Boston MSA. Construction is expected to begin in Q3 and be completed by the end of the 2Q18. $9.1M in a proposed multi-story climate-controlled, 758-unit facility in Knoxville, Tennessee. Construction is expected to begin immediately and be completed in 2Q18. Each of these facilities will be managed by CubeSmart (CUBE) upon completion

07:08 EDT ProQR Therapeutics' QRX-411 receives FDA and EMA Orphan Drug designation - ProQR's investigational drug QRX-411 received Orphan Drug Designation by the FDA and EMA for the treatment of retinitis pigmentosa, including Usher syndrome, the subtype targeted by QRX-411. Usher syndrome is an inherited condition that is characterized by combined deafness and blindness. Currently there are no therapies commercially available or in clinical development for the vision loss associated with this disease. According to the company, QRX-411 has shown "promising preclinical data in both patient fibroblasts and the optic cup model for mRNA restoration". A lead candidate has been selected for this program and is currently ready for IND-enabling studies.

07:07 EDT BeiGene initiates pivotal trial of BGB-A317 in China - BeiGene announced that the first patient was dosed in a pivotal clinical trial in China of BGB-A317, an investigational anti-PD-1 antibody, in patients with urothelial cancer, or UC, more commonly known as bladder cancer. The trial will evaluate BGB-A317 in Chinese patients with previously treated, PD-L1-positive, locally advanced or metastatic UC. BGB-A317 is also being evaluated in a pivotal trial in China in patients with relapsed or refractory classical Hodgkin lymphoma.

07:05 EDT Medical Transcription Billing acquires revenue cycle management company - MTBC acquired a Washington-based revenue cycle management company's client accounts and related business assets, which is expected to be accretive to earnings during Q3. The purchase price is based on a percentage of the actual revenues earned and received from the acquired client base during the three years after closing, together with revenues from new business added after closing.

07:01 EDT Alexandria Real Estate announces Alexandria Center for AgTech - Alexandria Real Estate Equities is creating the Alexandria Center for AgTech - RTP - the initial phase of a premier multi-tenant mega campus in Research Triangle Park. Located at 3054 East Cornwallis Road, which Alexandria recently acquired through an affiliate, the Alexandria Center for AgTech - RTP is adjacent to Alexandria's 6 Davis Drive, and the collective development of the two campuses will form a 1 million square foot-plus mega campus that will support the AgTech sector in its continued, dramatic growth. The first phase of the project is the strategic redevelopment of the Cornwallis site into 175,000 rentable square feet of office/laboratory and greenhouse facilities and a highly curated amenities center designed to foster innovation, drive productivity and enhance collaboration.

06:53 EDT Tallgrass Energy GP increases distribution 19.1% to 34.3c per share - Tallgrass Energy GP declared a quarterly cash distribution of 34.25c per Class A share for Q2, or $1.37 on an annualized basis. This represents a 19.1% sequential increase from the Q1 distribution of 28.75c per Class A share and an increase of 39.8% from the 2Q16 distribution of 24.5c per Class A share.

06:51 EDT Tallgrass Energy Partners increases quarterly distribution 10.8% to 92.5c - Tallgrass Energy Partners declared a quarterly cash distribution of 92.5c per common unit for Q2, or $3.70 on an annualized basis. This represents a sequential increase of 10.8% from Q1 distribution of 83.5c per common unit and an increase of 22.5% from the 2Q16 distribution of 75.5c per common unit. The distribution will be paid on Monday, August 14, to unitholders and shareholders of record as of the close of business on Friday, July 28.

06:43 EDT ReneSola connects 180 MW of distributed generation projects in China in 1H17 - ReneSola announced the grid connection of over 180 MW of solar rooftop projects in China during the first half of 2017. Over 170 MW of the projects will supply power to the utility grid under the Feed-in-Tariff of RMB 0.98/kWh.

06:37 EDT Tessera confirms details of ALJ ID against Broadcom - Xperi (XPER) subsidiary Tessera confirmed more details on its win against Broadcom (AVGO) and certain of its customers in the U.S. International Trade Commission. The Judge found that the '946 Patent is infringed, valid, and has a domestic industry in the U.S. The company stated that "This is a key patent on a fundamental manufacturing process technology that is not only very broadly infringed across all of Broadcom's significant product lines, but, we believe, is used by many others in the semiconductor industry." The '946 Patent covers the largest number of Broadcom products of all three patents at issue in the ITC investigation. This is the second time that the '946 Patent's validity has been confirmed in the past four months. This patent is also at issue in the company's parallel lawsuits against Broadcom and Avago in Delaware federal district court, where the company is seeking damages. The infringing products include an array of Broadcom chips and the products that incorporate them. The case is now subject to review by the ITC Commissioners.

06:31 EDT GM says delivered 27,151 vehicles in June in Canada - Chevrolet, Buick, GMC and Cadillac dealers delivered 27,151 vehicles in June, an increase of 4.2% year-over-year -- the company's best June since 2011.

06:18 EDT Bristol-Myers says Opdivo Phase 3 study met primary Phase 3 endpoint - Bristol-Myers announced that a Phase 3 study evaluating Opdivo 3 mg/kg versus Yervoy 10 mg/kg in patients with stage IIIb/c or stage IV melanoma who are at high risk of recurrence following complete surgical resection met its primary endpoint at a planned interim analysis, demonstrating superior recurrence-free survival in patients receiving Opdivo compared to Yervoy. These data will be submitted for presentation at an upcoming medical conference. Vicki Goodman, development lead, stated, "These topline results support the potential promise of Opdivo as a treatment option for patients with high-risk surgically resected melanoma. There remains an unmet need for additional options as the majority of stage III and resected stage IV high-risk melanoma patients experience disease recurrence after surgery."

06:07 EDT GM says delivered 285,191 vehicles in China in June - General Motors and its joint ventures in China achieved their highest June sales ever, with deliveries rising 4.3% on an annual basis to 285,191 vehicles. The Buick, Cadillac and Baojun brands had record results for June, while Chevrolet had its strongest growth in six months. Demand for SUVs, the key driver of GM's sales growth, surged 42% in June. It remained the company's best-performing segment.

05:43 EDT AirMedia regains compliance with Nasdaq listing rules - AirMedia Group announced that it has received a letter from The Nasdaq Stock Market stating that the company has regained compliance with Listing Rule 5250(c)(1). As previously disclosed, Nasdaq notified the company on May 18, 2017 that it no longer met the period filing requirement for Nasdaq under Listing Rule 5250(c)(1). Based on the filing of the company's annual report for the year ended December 31, 2016 on Form 20-F on June 28, 2017, Nasdaq has determined that the company complies with the Rule.

05:22 EDT eBay launches price match guarantee in UK - eBay announced the launch of a Price Match Guarantee on more than 20,000 deals on its UK site. With this new offering, eBay guarantees that prices for new items included in its Deals Programme will have the best price available online from a list of six major online retailers, or eBay will match the lower price of that competitor. The offering will launch later this month, available on all eligible items in eBay's UK Deals Programme.

05:18 EDT Elbit Systems subsidiary awarded $35M contract in Europe - Elbit Systems announced that one of its subsidiaries in Europe was awarded a contract from a European country, for the supply of thousands of advanced Electro-Optic systems for individual infantry soldiers, in a total amount of an approximately $35M. The contract will be performed over a two-year period.

05:15 EDT Nokia, Xiaomi sign business cooperation, patent agreements - Nokia and Xiaomi announced that they have signed a business collaboration agreement and a multi-year patent agreement, including a cross license to each company's cellular standard essential patents. Xiaomi also acquired patent assets from Nokia as part of the transaction. Under the business cooperation agreement, Nokia will provide network infrastructure equipment designed to deliver the high capacity, low power requirements expected by large web providers and datacenter operators. Nokia and Xiaomi will work together on optical transport solutions for datacenter interconnect, IP Routing based on Nokia's newly announced FP4 network processor, and a data center fabric solution. In addition, the companies have agreed to explore opportunities for further cooperation, in areas such as Internet of Things, augmented and virtual reality, and artificial intelligence.