Stockwinners Market Radar for July 17, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:28 EDT Celanese announces $1.5B share repurchase authorization - Celanese Corporation announced that its board of directors has approved a new $1.5B share repurchase authorization. The new share repurchase authorization represents approximately 11% of the company's shares outstanding. The timing of the buybacks will be partially based on the closing of the recently announced proposed tow joint venture with Blackstone. The company has deployed $300M in the first half of 2017 and is on pace to meet its $500M share buyback commitment for 2017 which would exhaust the existing $1B repurchase authorization put in place in 2015.

18:39 EDT Netflix says seeing rewards of great content - Says has a lot to learn in Asia, but it represents a huge opportunity going forward. Says matching programming to local tastes is key. Says will invest more time, energy in Asia than other areas. Says growing content budget significantly. Says considering bundling Netflix with other services. Says margin target this year is 7%. Comments from Q2 earnings conference call.

18:22 EDT SoftBank, WeWork form joint venture under name WeWork Japan - SoftBank and WeWork announced a joint venture that will bring WeWork's platform of space, community, and services for companies of all sizes to Japan. The SoftBank Group and WeWork will each own 50% of the joint venture, which will operate under the name of WeWork Japan. By entering Japan, WeWork will expand its global community and connect its more than 130,000 members to the innovative and growing Japanese market. WeWork plans to launch its first location in Tokyo in early 2018. To oversee this launch and scale its Japanese operations, WeWork has appointed Chris Hill to serve as the Chief Executive Officer of WeWork Japan. Chris joined WeWork in 2010 shortly after its founding to serve as the company's first Chief Operating Officer. During his tenure at WeWork, Chris has held several key executive functions, which include serving as the Global Head of Community and Operations and, most recently, serving as the Global Chief Community Officer. In these roles, Chris has created, implemented, and scaled many of the processes, operational frameworks, and strategies that are used to run WeWork communities and create the highest level of member experience. Over the past two years, Chris has spent extensive time overseas successfully scaling the WeWork brand in foreign markets.

17:59 EDT Puma Biotechnology up 11.5% to $96.00 after FDA approves NERLYNX

17:50 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Netflix (NFLX), up 10.6%... Brown & Brown (BRO), up 4.6%. ALSO HIGHER: Rite Aid (RAD), up 7.4% after it said that adjustments from the Walgreens (WBA) deal to pro forma adjusted EBITDA will result in pro-forma adjusted EBITDA for the year ended March 4, 2017 of $742.97M. DOWN AFTER EARNINGS: Select Comfort (SCSS), down 4%... Floor & Decor (FND), down 1.2%. ALSO LOWER: CymaBay (CBAY), down 5.5% after it filed to sel 10M shares of common stock... Ethan Allen (ETH), down 4.6% after it reported lower-than-expected preliminary earnings for Q4... Viper Energy (VNOM), down 4.4% after it announced a public offering of 11M common units... Annaly Capital (NLY), down 3.1% after it filed to sell 60M shares of common stock... Ford (F), down marginally after Bloomberg reported that it approached electric vehicle company Lucid Motors, which is raising funds for expansion.

17:39 EDT Puma Biotechnology confirms FDA approval of NERLYNX - Puma Biotechnology announced that the U.S. FDA has approved NERLYNX (neratinib), formerly known as PB272, a once-daily oral tyrosine kinase inhibitor for the extended adjuvant treatment of adult patients with early stage HER2-overexpressed/amplified breast cancer, following adjuvant trastuzumab-based therapy. Puma expects neratinib to become commercially available in September 2017 and to be marketed as NERLYNX.

17:25 EDT Engaged Capital lowers stake in MagnaChip to 6.1%

17:19 EDT Copa Holdings reports June system-wide passenger traffic up 14.7% y/y - Copa Holdings released preliminary passenger traffic statistics for June 2017. For the month of June 2017, Copa Holdings' system-wide passenger traffic increased 14.7% year over year, while capacity increased 13.3%. As a result, system load factor for the month was 82.2%, a 1.0 percentage point increase when compared to June 2016.

17:11 EDT Select Comfort to change corporate name to Sleep Number later this year

17:08 EDT Turquoise Hill sees FY17 gold production of 100K-140K tons at Oyu Tolgoi - Turquoise Hill reported that Oyu Tolgoi is expected to produce 130K-160K tons of copper and 100K-140K ounces of gold in concentrates for 2017. Open-pit operations are expected to mine in Phases 4 and 6 during the year. In addition, stockpiled ore will continue to be processed during 2017.

17:01 EDT Bachoco to acquire Albertville Quality Foods - Industrias Bachoco announced that, through its subsidiary OK Foods, reached an agreement to acquire Alabama-based Albertville Quality Foods. AQF produces and sells value added further processed products, with sales of around $270M a year. The company expects to close this acquisition in a short time.

16:55 EDT Amazon drops after Trump cites 'online predatory practices' - President Trump made remarks at the White House on his "Made in America" agenda. During his presentation President Trump said we need to begin "cracking down" on the "predatory online sales of foreign goods." Although Trump did not specifically refer to online retail giant Amazon, he did refer to the destruction of American brick and mortar retail sales, saying that "online predatory sales" are "killing shoppers and killing shopping centers" Shares of Amazon dipped to $998.88 in after-hours trading but have since recovered to $1010.74.

16:53 EDT Highbridge Capital reports 9.58% passive stake in Egalet

16:51 EDT Silver Lake reports 17.8% stake in Tintri

16:49 EDT Mattel CFO Kevin Farr to separate from company - According to a regulatory filing, on July 11, 2017, Mattel determined that Kevin M. Farr, the company's CFO, will separate from the company. In order to ensure a smooth transition, it is planned that Farr will continue to serve as the company's CFO until such time as a successor has been named and successfully transitioned. The company has engaged a search firm and initiated an external search to identify his replacement.

16:47 EDT Onset V rports 8.97% passive stake in Inuvo

16:37 EDT Berkshire adds support from Texas stakeholder groups for Oncor deal - Berkshire Hathaway Energy (BRK.A), a subsidiary of Warren Buffett's Berkshire Hathaway Inc., announced the support of new Texas stakeholder groups for its proposed acquisition of Oncor Electric Delivery Company LLC. TXU Energy, NRG Energy (NRG), the Texas Energy Association for Marketers and the Alliance for Retail Markets have signed a growing list of regulatory commitments proposed by Berkshire Hathaway Energy and agreed to support approval of the transaction as proposed.

16:32 EDT Atkins Holdings reports 12.5% stake in Simply Good Foods

16:31 EDT Baxter names Target CFO Smith to board - Baxter International (BAX) announced it has appointed Cathy R. Smith, executive vice president and chief financial officer, Target Corporation (TGT), to its board of directors, bringing the total number of directors serving the company at this time to 13. Smith now also serves on Baxter's Audit Committee.

16:29 EDT Stamps.com selloff attributed to Amazon.com removal - The late day selloff in shares of Stamps.com (STMP) is being attributed to the company being removed from Amazon's Buy Shipping Services. The stock closed down 4% to $143.15. The company was also the subject of a cautious report from Capitol Forum. Amazon sellers discussed the change today on the company's seller forums. Reference Link

16:17 EDT Synchronoss submits plan to regain Nasdaq compliance - Synchronoss Technologies has submitted its plan to Nasdaq detailing how the company plans to regain compliance with Nasdaq's continued listing requirements. On May 16, Synchronoss received a letter from Nasdaq indicating that the company was not in compliance with Nasdaq because the company had not yet filed its Quarterly Report on Form 10-Q for the quarter ended March 31. The company had until July 17 to submit a plan to regain compliance with Nasdaq's continued listing requirements. If the compliance plan is accepted, Nasdaq may grant Synchronoss an extension of up to 180 calendar days from the Form 10-Q's due date, or until November 6, to regain compliance. The company's common stock will continue to trade uninterrupted under its current trading symbol.

16:17 EDT Mercury Systems receives $10.5M follow-on order - Mercury Systems announced it received a $10.5M follow-on order from a leading defense prime contractor for high-performance microwave transceivers for precision guided munitions. The order was booked in the company's FY17 Q4 and is expected to be shipped over the next several quarters.

16:13 EDT Netflix rises 9% after Q2 results, Q3 guidance - In after hours trading, Netflix is up $14.49, or 9%, to $176.19.

16:11 EDT Partner raises passive stake in Portola Pharmaceuticals to 5.8%

16:10 EDT Anson Funds Management reports 9.8% passive stake in Nxt-ID

16:09 EDT Accuray says Q4 revenue driven by performance in Europe, Asia Pacific regions - "Our fourth quarter revenue growth was driven by improved performance in both our Europe and Asia Pacific regions and we finished the fiscal year with renewed momentum resulting from our increased focus on converting backlog to revenue," said Joshua H. Levine, president and CEO of Accuray. "We also had double digit gross order growth in the second half of the fiscal year, driven by the full commercial launch of our Radixact system and continued strong demand for our CyberKnife system. During the fourth quarter, we continued to improve the company's balance sheet with a new $52 million revolving loan agreement that reduces our annual interest costs by $2 million versus our prior secured term loan and we reduced our total debt by $10 million. As we look forward to fiscal year 2018, we strongly believe we have the people, processes and product roadmap in place for continued growth in orders, revenues and market share."

16:09 EDT Netflix says Q3 guidance assumes 'much of momentum will continue' - In its Q2 investor letter, Netflix stated: "Q3 guidance assumes much of this momentum will continue but we are cognizant of the lessons of prior quarters when we over-forecasted and there was lumpiness in net adds, likely due to demand being pulled forward (into Q2 in this case). Domestic net additions of 1.1M represented the highest level of Q2 net adds since the second quarter of 2011. For Q3'17, we project that we will add 0.75M US members, compared with 0.37M in Q3'16, which was impacted by un-grandfathering...We're forecasting Q3'17 international net adds of 3.65M. We are making good progress with our international expansion as improving profitability in our earlier international markets helps fund significant investment in our newer territories. As a result, we expect positive international contribution profit for the full year 2017, at current F/X exchange rates. This would mark the first ever annual contribution profit from our international segment."

16:07 EDT Northern Trust announces leadership changes - Northern Trust announced that Stephen N. Potter, President of Northern Trust Asset Management, will be appointed as Vice Chairman with responsibilities including oversight of key strategic initiatives and the development of select clients and prospects around the globe. Succeeding Potter as the President of Asset Management is Shundrawn A. Thomas, currently Head of Funds and Managed Accounts Group. Both changes are effective October 1. Thomas currently oversees the development, management and distribution of Northern Funds, Northern Institutional Funds and FlexShares Exchange Traded Funds as well as related business activities. Previously, Thomas served as President and Chief Executive of Northern Trust Securities and Head of Corporate Strategy for Northern Trust Corporation.

16:06 EDT CalAmp appoints Kurtis Binder as CFO - CalAmp announced the appointment of financial executive Kurtis J. Binder as the company's Executive Vice President and CFO, effective today. As CFO, Binder will report to CalAmp's President and CEO Michael Burdiek. Binder succeeds Rick Vitelle, whose planned retirement was announced on December 21, 2016. After having made significant contributions to the company as CalAmp's CFO since 2001, Vitelle will continue with the company on an interim basis as an executive vice president, working closely with Binder to ensure a seamless transition. Binder brings significant leadership and technical experience in finance and business management working with multinational technology companies with operations across Europe, Asia, Latin America and the U.S.

16:04 EDT Americas Silver provides update on San Rafael Project - Americas Silver provided a construction update on its 100% owned San Rafael development project located in Sinaloa, Mexico. Construction commenced in early 4Q16 with an estimated initial capital expenditure of $22M based on the March 30, 2016, San Rafael pre-feasibility study. The initial capital estimate was subsequently reduced to $18M due to project optimization as well as favourable movements in the Mexican peso. As at June 30, the company has spent approximately $10.5M of the revised budget and expects to have sufficient cash on hand and cash flow generated from continuing operations to fund the project development. Management expects that initial processing of material at the existing Los Braceros mill will occur by mid-September. The initial targeted throughput of 1,500 tonnes per day from the pre-feasibility study is expected early in Q4. In early 2018, management will evaluate a potential mill expansion based on realized mill throughput of the San Rafael ore, achievable future mining rates and current metal prices. San Rafael is expected to deliver average annual production of 1 million ounces of silver, 50 million pounds of zinc and 20 million pounds of lead over a 6 plus year mine life at negative all-in sustaining costs based on current reserves and metal prices. The project is expected to have an IRR of greater than 100%. The project remains on track to deliver on budget and on schedule for first production by the end of Q3.

16:02 EDT Partner Fund Management reports 6.3% passive stake in Aerie Pharmaceuticals

16:01 EDT UnitedHealth, AARP renew and extend exclusive relationship - UnitedHealth announced it renewed and extended its exclusive relationship with AARP focused on improving the health and well-being of Americans 50 and older, including the most popular Medicare products among older Americans. Through the extended relationship, UnitedHealthcare will continue to offer AARP-branded Medicare-related and indemnity insurance products, including Medicare Advantage, Medicare Part D and Medicare supplement plans. UnitedHealthcare is the nation's largest business dedicated to meeting the health care needs of seniors and other Medicare beneficiaries, with more than 12 million people enrolled in its Medicare plans. Optum will continue contributing to a better overall health care experience for people in AARP-branded plans through health care navigational and decision-support services, convenient access to prescription medications, and health and well-being programs.

15:45 EDT Vantiv issues rebuttal to Capitol Forum, rejects report's conclusions - In a regulatory filing, Vantiv issued a response to an article written by a "subscription-based organization," believed to be Capitol Forum, that claims Vantiv deceives merchants by marking up interchange fees. "Vantiv rejects the conclusions and methodology asserted in the article. Vantiv does not mark up interchange fees; the company properly discloses the calculation of its fees to merchants, and generally charges merchants less than the industry," the company stated. In its further explanation, Vantiv stated in part: "Vantiv's average effective rate for small and medium sized business clients is lower than the U.S. payments industry average...Because different processors charge different fees with different names and present them in different formats on a merchant's billing statement, it is widely recognized that calculating a merchant's effective rate is the only way to get a true apples-to-apples comparison of client pricing from one merchant acquirer to another. Calculated as the total of all charges and fees billed to a client divided by the client's total sales volume in the billing period, the effective rate captures the client's all-in cost of transaction processing. Effective rate includes all processor fees, all network fees and all third-party assessments...As a result of our competitive pricing, Vantiv's merchant attrition rates are below industry average, based on industry data published by The Strawhecker Group for 2016. Given the ease with which merchants can change payment processors, were Vantiv to be out of step with the industry as claimed in the article, we would likely experience high client attrition rates. In addition, contract termination fees are standard practice in the payment processing industry, as well as many others, and competitors are often willing to reimburse potential clients for termination fees if they agree to switch...We clearly delineate base processing fees from our risk-based per transaction costs and surcharges by separating them into separate sections within our client billing statements, including delineating Vantiv's risk-based per transaction amounts in a "Surcharges Section" within client statements."

15:34 EDT Tesla stock low if you believe in company's future, Elon Musk says - In a recent tweet, clarifying earlier comments, Tesla CEO Elon Musk tweeted: "I should clarify: Tesla stock is obviously high based on past & present, but low if you believe in Tesla's future. Place bets accordingly ..." Earlier in the day, according to CNBC, Musk said, "I've gone on the record several times that the stock price is higher than we have the right to deserve and that's for sure true based on where we are today," Musk told Nevada Gov. Brian Sandoval at the National Governors Association summer meeting on Saturday. According to media reports, Musk added when speaking at the meeting that Tesla's current stock price reflects a "lot of optimism" adding that he has tried to bring expectations in line. Musk noted that it has been "quite tough" to temper expectations in a euphoric environment. Shares of Tesla dropped to an intraday low of $313.45 per share after his comments from the governor's meeting but have regained some ground and are currently down 2.6% to $319.50 per share in afternoon trading.

15:16 EDT Tesla stock low if you believe in company's future, Elon Musk says - https://twitter.com/elonmusk/status/887027300042104832

15:02 EDT Sabby Management reports 5.7% passive stake in Trovagene

14:50 EDT Stamps.com weakness attributed to another cautious mention at Capitol Forum

14:18 EDT Diebold to appeal ITC ruling on single Hyosung patent claim - Diebold Nixdorf announced that the International Trade Commission has upheld a preliminary ruling on a patent infringement claim by Nautilus Hyosung related to automated teller machines. In the ruling, Diebold Nixdorf defeated three of four retaliatory patent infringement claims brought, the company stated. On the fourth claim, the ITC found a technical violation of a Hyosung U.S. patent involving legacy Wincor technology. Diebold Nixdorf said it "disagrees with the decision as it relates to the one technical violation involving Wincor technology and will appeal. However, this ruling has no bearing on existing products in the market, and Diebold Nixdorf has developed a new and improved version of the product that is not affected by this patent which will be used in future sales." After appeal, these intellectual property disputes will move to federal district court, where each company will have a U.S. jury decide whether infringement occurred and what damages are owed, the company added.

14:07 EDT BNP Paribas to pay $246M in forex settlement with Federal Reserve - BNP Paribas announced a settlement with the Board of Governors of the Federal Reserve System relating to past misconduct in its foreign exchange business. Under this settlement with the FRB, BNP Paribas will pay a fine of $246M which will be covered by existing provisions. This follows the announcement by BNP Paribas of a settlement with the New York State Department of Financial Services on the May 24 May relating to the same issue. BNP stated: "In reaching this settlement, the FRB acknowledged the Group wide remediation initiatives and the full cooperation of BNP Paribas in the investigation. The conduct which led to this settlement occurred during the period from 2007 to 2013. Since this time, BNP Paribas has proactively implemented extensive measures to strengthen its systems of control and compliance. The Group has increased resources and staff dedicated to these functions, conducted extensive staff training and launched a new Code of Conduct which applies to all staff. BNP Paribas deeply regrets the past misconduct which was a clear breach of the high standards on which the Group operates."

13:47 EDT Delta adds L.A.-Mexico City flight service - Delta Air Lines (DAL) plans to launch daily nonstop service between Los Angeles and Mexico City on Dec. 1, 2017. The flight, which is subject to government approval, will connect Delta's LAX hub to partner Aeromexico's Mexico City hub and complement Aeromexico's existing industry-leading schedule between the cities. The Los Angeles-Mexico City flight will be operated using an Airbus (EADSY) A319 aircraft, which features new seats throughout the cabin with adjustable headrests, new seatback in-flight entertainment screens, in-seat power available for all customers, high capacity overhead bins, ambient lighting, as well as new lavatories. Delta's A319s have a total of 132 seats, 12 in First Class, 18 in Delta Comfort+ and 102 in Main Cabin. All aircraft flying to and from Mexico have AVOD, Wi-Fi and power at every seat.

13:01 EDT MasterCard announces agreement to acquire Brighterion; terms not disclosed - Mastercard announced it has entered into an agreement to acquire Brighterion, a software company specializing in artificial intelligence. This acquisition will further expand its suite of capabilities that deliver an enhanced customer experience and security. The closing of the transaction is subject customary closing conditions, including the expiration or early termination of the applicable waiting periods under the Hart-Scott-Rodino Act. Terms of the agreement were not disclosed.

12:40 EDT Vantiv down 3% after Capitol Forum questions billing practices - A midday drop in shares of Vantiv has been attributed to a cautious mention by Capitol Forum, according to Bloomberg and other sources. Capitol Forum said the company's approach to billing is "especially deceptive," as its practice of marking up interchange fees makes it tougher for merchants to see how much they are being charged, according to Bloomberg. Vantiv shares are down $1.93, or 3%, to $63.26 in early afternoon trading following the report.

12:33 EDT Procter & Gamble responds to Trian Fund Management - Procter & Gamble issued the following statement in response to Trian Fund Management: "P&G's board and management team are committed to enhancing value for all shareholders and will continue to take actions to achieve this objective. P&G is actively executing its strategy to achieve balanced, sustainable long-term growth and value creation. Over the past two years, P&G has accomplished the most significant portfolio transformation in its history, having divested, discontinued, or consolidated more than 100 brands and simplified its product portfolio from 16 to 10 categories. At the same time, the company has established a new standard of excellence for product performance, packaging and commercial execution, and is further strengthening its organization design, culture and accountability to ensure the strongest and most efficient operational performance across the organization. The company also continues to execute on bold productivity initiatives, having delivered more than $10B in savings over the past five fiscal years, with plans to deliver up to an additional $10B over the next five fiscal years. From reducing the number of manufacturing sites and simplifying its manufacturing platforms, to streamlining agency costs and refining its geographic footprint, the company's initiatives are enhancing value across the organization. In addition to driving cost savings, these productivity programs have led to an increase of more than two points in operating margin over the past four years. At the same time, P&G is committed to continued productivity improvement and cost savings that provide the fuel for innovation and investments needed to accelerate and sustain faster top-line growth. For example, the company will reinvest savings to improve product formulations and packaging, sales coverage and media programs, as well as product sampling and in-store and online demand creation. P&G will also invest in consumer value equations, correcting value gaps and quickly responding to competitive challenges as they emerge throughout the year... P&G has a best-in-class board that is fully supportive of and actively engaged in overseeing the company's transformation, and is holding management accountable for delivering continued growth and success. The P&G board comprises 11 diverse, highly qualified and experienced directors, ten of whom are independent and four of whom have joined the Board in the last five years... P&G has maintained an active and constructive dialogue with Trian since it made its investment in the company. P&G's board and management team are keenly focused on executing the company's strategy to drive innovation, accelerate organic sales and volume growth, improve productivity and cost structure, and strengthen P&G's organization and culture. While the board is always willing to consider new ideas that may help drive profitable growth and enhance shareholder value, the board notes that Trian has not provided any new or actionable ideas to drive additional value for P&G shareholders beyond the continued successful execution of the strategic plan that is in place. The board is confident that the changes being made are producing results, and expresses complete support for the company's strategy, plans, and management... The board will present its formal recommendation regarding director nominees in the company's definitive proxy statement and other materials, which will be filed with the SEC. The date of the company's 2017 Annual Shareholder Meeting has not yet been announced. P&G shareholders are not required to take any action at this time."

12:25 EDT Sanofi Pasteur ships first flu vaccine doses for 2017-2018 season - Sanofi Pasteur, the vaccines unit of Sanofi, announced that its first doses of the Fluzone portfolio for the 2017-2018 influenza season have been released by the U.S. Food and Drug Administration. Sanofi Pasteur has begun distributing initial shipments, representing the first of nearly 70M total doses of seasonal influenza vaccine manufactured by the company for this upcoming influenza season. Widespread shipment of Fluzone Quadrivalent, Fluzone High-Dose and Fluzone Intradermal Quadrivalent vaccine to health care provider offices, pharmacies and other immunizers will begin in early August to support fall immunization campaigns.

12:06 EDT MidWestOne increases quarterly dividend 3% to 17c per share - MidWestOne Financial Group, parent company of MidWestOne Bank, announced that on July 14, the company's boar declared a cash dividend of 17c per common share, which is a 3% increase from the dividend paid each of the previous two quarters. The dividend is payable September 15 to shareholders of record at the close of business on September 1. At this quarterly rate, the indicated annual cash dividend is equal to 68c per common share.

11:56 EDT Google pulls back after EU antitrust decision on Qualcomm - Shares of search giant Google (GOOG) pulled back after reports from various major news outlets that chipmaker Qualcomm (QCOM) can't stall European Union requests for antitrust information. According to Bloomberg, Qualcomm "faces fines of 580K euros per day after losing a bid to block EU efforts for requiring it to supply information for an antitrust investigation into the chip makers sales practices," according to the report. GOOGLE ANTITRUST PROBLEMS: In June, the EU competition authority levied a fine of 2.4B euro for unfairly favoring its own shopping service. Additionally, antitrust regulators are also considering a record fine against Google over its Android mobile operating system, and yet another case over its AdSense for Search platform. PRICE ACTION: Shares of Google hit a session low of $952.37 earlier and are underperforming the broader tech sector, down fractionally to $953.27, while Qualcomm is down over 0.5% to $56.50 per share. Qualcomm had hit an intraday low of $56.45 per share earlier in trading.

11:45 EDT Walgreens announces addition of Sleek MakeUP to beauty offering - Walgreens announced the addition of Sleek MakeUP, a mass market cosmetics brands in the U.K., to its beauty offering at more than 150 stores and on Walgreens.com. Acquired by Walgreens Boots Alliance in 2015, the brand's full line, including products like the Solstice Highlighting Palette, Cream Contour Kit and Major Matte Lip Cream, are now available on Walgreens.com and will be in stores at more than 150 Walgreens starting this month.

11:08 EDT Amid recent struggles, Signet Jewelers names new CEO to succeed Mark Light - Shares of Signet Jewelers (SIG) are in focus in morning trading after the company said Chief Executive Officer Mark Light would be succeeded by named Virginia Drosos on August 1. The appointment comes after the company reported quarterly earnings below expectations in May, disclosed the resignation of its COO, announced plans to outsource its credit portfolio and faced sexual harassment allegations. CEO APPOINTMENT: Signet, the owner of Zale and Kay Jewelers, announced this morning that Mark Light, who has served as CEO of Signet since 2014, has decided to retire after more than 35 years with the company due to health reasons. Signet's board of directors has appointed Virginia "Gina" Drosos, who has served as an independent director of the company's board since 2012, as the company's new CEO. Drosos has over 29 years of executive leadership experience in the beauty and consumer goods industries, most recently serving as president and CEO of Assurex Health, Signet said in a statement. RECENT COO RESIGNATION, DISAPPOINTING EARNINGS AND OTHER WOES: Light's departure follows the recent resignation of Chief Operating Officer Bryan Morgan due to violations of company policy "unrelated to financial matters." Additional details regarding Morgan's resignation have not been reported. In January, Signet announced several senior organizational changes to drive growth, including promoting Morgan to COO from executive vice president, Supply Chain Management and Repair. In May, Signet, which has been struggling with declining revenue over the past four quarters as demand for its jewelry has weakened, reported first quarter earnings that fell below analysts' expectations. Light said at the time that Signet had a "very slow start" to the year as headwinds in the overall retail environment were exacerbated by a slowdown in jewelry spending and company-specific challenges. Additionally, Signet announced plans to outsource its credit portfolio. The company has also said it would step up efforts to restore its reputation following allegations of sexual harassment at its Sterling Jewelers unit and diamond swapping allegations. In May, Signet said it reached an agreement with the EEOC to resolve claims related to pay and promotion of female retail sales workers. Signet has said allegations of sexual harassment have no merit, calling them "distorted and inaccurate." PEERS IN THE NEWS: Other publicly traded retailers of fine jewelry include Tiffany & Co (TIF), which in May reported quarterly sales that fell below analysts' forecasts as well as a decline in comparable store sales. Last week, Tiffany named Alessandro Bogliolo, who spent 16 years at Bulgari SpA and once served as that company's COO, as its new CEO. Bogliolo is expected to take over as Tiffany's CEO by October 2, the company said, and he will also join the company's board. The company increased the size of its board of directors earlier this year, adding three independent directors and ousted former CEO Frederic Cumenal in February following pressure from activist investor JANA Partners amid declining sales and profits. PRICE ACTION: Signet fell roughly 0.4% to $59.64 in morning trading, though shares are down nearly 37% year-to-date.

10:55 EDT Street Check: Analyst made prescient call on Blue Apron ahead of Amazon report - The shares of Blue Apron (APRN) are sliding following a media report saying Amazon (AMZN) has filed a trademark that makes it appear the e-commerce giant is getting into the meal kit business. In a note to investors last week, Northcoast analyst Chuck Cerankosky initiated coverage of the recently public Blue Apron with a Sell rating, saying he sees the company facing considerable competition. The Fly published a summary of Northcoast's note on the day it was circulated. MEAL KIT BUSINESS: Amazon has filed a trademark to get into the meal kit business, according to a report by TheStreet. Amazon Technologies revealed in the July 6 trademark application that it is planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings. SELL BLUE APRON: In a research note to investor on July 11, Northcoast's Cerankosky started Blue Apron with a Sell rating and a $2 price target. While he pointed out that Blue Apron produces and markets "high-quality, convenience-oriented fresh food" in the form of recipe-ready meal kits, the company faces considerable competition, not the least of which is the emerging focus at certain conventional supermarkets to sell meal kits. Blue Apron is not a technology company just because orders are received digitally, Cerankosky noted, adding that the company's cost structure has a very high labor content due to the need to hand assemble various food ingredients for each order into boxes that include ice packs, alongside shipping costs. PRICE ACTION: In morning trading, shares of Blue Apron have dropped about 9% to $6.72. Blue Apron, which made its initial public offering June 29 on the New York Stock Exchange, opened at $10 per share and closed at $10.02 on that day.

10:49 EDT Eaton Vance reports consolidated assets under management of $395.3B at June 30

10:36 EDT RLJ Lodging discloses prior receipt of downwardly-revised $24/share offer - In a regulatory filing related to RLJ Lodging Trust's (RLJ) previously announced merger agreement under which FelCor Lodging Trust (FCH) will merge with RLJ in an all-stock transaction, RLJ disclosed that on June 23, the company received a third unsolicited, nonbinding proposal from "Party Y," this time to acquire all of the capital stock of RLJ at a price of $25.50 per RLJ Common Share in an all-cash transaction. On June 26 and again on June 27, the RLJ Board met to discuss the third proposal received from Party Y. In the course of these meetings, the RLJ Board thoroughly reviewed and discussed the proposal, with input from its legal and financial advisors. After due deliberation, on June 27, the RLJ Board determined that the proposal could reasonably be expected to lead to a "Superior Proposal" and authorized management to commence discussions and negotiations with Party Y regarding the potential transaction described in the June 23 letter. On June 29, RLJ and Party Y entered into a confidentiality agreement, and thereafter Party Y commenced business and legal diligence. On July 6, Party Y submitted a revised nonbinding offer to acquire all of the capital stock of RLJ at a price of $24.00 per RLJ common share, the filing states.

10:12 EDT Bank of America reports June charge-offs 2.7% vs. 2.77% last month - Reports June 30-plus day delinquencies 1.51% vs. 1.52% last month.

10:02 EDT Air Products awarded carbon monoxide, hydrogen supply contract by Huntsman - Air Products (APD) and Huntsman (HUN) announced they have signed a long-term agreement for Air Products to build, own and operate a new steam methane reformer and cold box in Geismar, Louisiana. The Air Products facilities, targeted to be onstream in January of 2020, will supply hydrogen, carbon monoxide and steam to Huntsman's Geismar operations. The new facility, to be located on land leased from Huntsman, will produce approximately 6.5 million standard cubic feet per day of CO, 50 MMSCFD of hydrogen, and up to 50,000 pounds per hour of steam. There is also the ability for the facility to be expanded to increase CO in the future to support additional growth. Beyond supply to Huntsman's production facility in Geismar, Air Products' new plant will also be connected to its Gulf Coast hydrogen pipeline and network system.

10:01 EDT Emerson announces award of 15-year, $20M contract - The San Francisco Public Utilities Commission has selected Emerson as the design-build contractor for a comprehensive automation project to modernize its Southeast Treatment Plant, the company announced. Emerson said it will implement the $20M upgrades project in five phases over 15 years - seven years of design-build followed by eight years of service and support.

09:54 EDT Rayonier Advanced Materials reiterates commitment to acquire Tembec - Rayonier Advanced Materials (RYAM) reaffirmed its commitment to acquire Tembec on the terms previously agreed with Tembec. The company believes that the previously announced arrangement consideration of C$4.05 in cash or 0.2302 of a share of Rayonier Advanced Materials common stock per Tembec common share-which is subject to proration so that approximately 63% of the aggregate consideration is paid in cash and 37% is paid in Rayonier Advanced Materials stock-provides compelling value to Tembec shareholders. The company does not intend to increase the consideration offered to Tembec shareholders. On July 14, 2017, the company received a letter from Oaktree Capital Management (OAK) indicating its intent to vote against the company's acquisition of Tembec at the special meeting of Tembec shareholders. Oaktree's letter contains a number of misleading statements, which we address in Appendix A. The Company believes that the previously announced arrangement consideration, which was the result of extensive negotiations with Tembec, represents a full and fair price and an attractive valuation. Rayonier Advanced Materials believes that its acquisition of Tembec is in the best interests of both companies and their shareholders and reaffirms its commitment to acquire Tembec on the previously announced terms.

09:43 EDT Peltz says Procter & Gamble has 'suffocating bureaucracy' - Nelson Peltz of Trian Partners is speaking on CNBC.

09:42 EDT Peltz says Procter & Gamble 'meets all criteria' that Trian looks for - Nelson Peltz of Trian Partners is speaking on CNBC.

09:26 EDT Medtronic: InterStim 5-year data shows long-term efficacy - Medtronic announced that the InterStim system, which provides sacral neuromodulation therapy, offers sustained long-term efficacy and quality of life improvements for overactive bladder, or OAB, at five years. Results of the InSite study, which were published online in the Journal of Urology, found that 82% of patients had therapeutic success at five years and sustained quality of life improvements. "Effective long-term bladder control is critical because OAB is a chronic condition that significantly impacts all aspects of a person's quality of life, including confidence, activities and intimacy," said Steven Siegel, M.D., primary investigator and director, Metro Urology Centers for Female Urology and Continence Care, Minneapolis, Minn. "Many struggle to find long-term relief and these results, which show the InterStim system offers sustained long-term efficacy, meaningful symptom reduction and quality of life improvements, offer new hope for those who suffer."

09:22 EDT MannKind appoints Steven Binder as CFO - MannKind (MNKD) announced that Steven Binder has joined the company as its CFO. He most recently spent four years at Stryker (SYK), as Vice President and CFO for Stryker's International Group.

09:21 EDT LRAD Corporation CFO McDermott to resign - In a regulatory filing, LRAD Corporation announced that Katherine McDermott provided notice to the company on July 11 of her intent to resign from her position as Chief Financial Officer, effective August 10. "McDermott's resignation is not the result of any disagreement with management, the company or its operations, policies or practices," the company stated in its filing.

09:21 EDT Avis Budget announces integration with Amazon Alexa - Avis Car Rental (CAR) announced its integration with Amazon (AMZN) Alexa, which will allow travelers to book and manage car rental reservations through the popular voice platform on Amazon Echo devices. The initiative positions Avis as the first car rental company to offer the innovation and paves the way for easy, intuitive travel arrangements. The offering is being demonstrated at the Global Business Travel Association's Convention this week and will be available to the public by the end of August.

09:20 EDT KKR names Joe Bae, Scott Nuttall co-presidents, co-COOs - KKR & Co. L.P. announced the expansion of its executive leadership team with the appointment of Joe Bae and Scott Nuttall as Co-Presidents and Co-COOs of KKR and members of KKR's Board of Directors. Henry Kravis and George Roberts will continue to lead the firm they founded as Co-Chairmen and Co-CEOs. In their new roles, Nuttall and Bae will jointly be responsible for the day-to-day operations of KKR. Under the new leadership structure, Bae and Nuttall will be jointly responsible for the execution and implementation of KKR's strategy, but will have different areas of primary responsibility. Bae will focus on KKR's global private equity businesses as well as the Firm's real asset platforms across energy, infrastructure and real estate private equity. Nuttall will concentrate on KKR's corporate and real estate credit, capital markets, hedge fund and capital raising businesses together with the firm's corporate development, balance sheet and strategic growth initiatives. As part of this transition, Alex Navab announced he is planning to step down from his role as Head of Americas Private Equity and retire from KKR after an orderly transition.

09:19 EDT KKR names Joe Bae, Scott Nuttall co-presidents, co-COOs

09:11 EDT Perrigo confirms patent challenge for generic version of Soolantra cream, 1% - Perrigo announced that its subsidiary has filed a Paragraph IV Abbreviated New Drug Application with the U.S. FDA for a generic version of Soolantra cream, 1%. Following notification from Perrigo, Galderma Laboratories, L.P., Galderma S.A., and Nestle Skin Health S.A., filed a patent litigation suit asserting patents listed in the Orange Book for Soolantra in the United States District Court for the Northern District of Texas on July 13, 2017. This action formally initiates the litigation process under the Hatch-Waxman Act. Soolantra cream, 1% is indicated for the treatment of inflammatory lesions of rosacea. Annual market sales for the 12 months ending May 2017 were $87M.

09:09 EDT Perrigo announces final FDA approval for generic version of Androgel - Perrigo (PRGO) announced it has received final approval from the U.S. FDA for its AB rated Abbreviated New Drug Application referencing AbbVie's (ABBV) Androgel Topical Gel, 1.62% packets (20.25 mg/1.25 g packet and 40.5 mg/2.5 g packet). Androgel Topical Gel, 1.62% packets is an androgen indicated for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone. Annual market sales for Androgel Topical Gel, 1.62% packets for the 12 months ending May 2017 were approximately $88M.

09:06 EDT Syngenta receives China import approval for Agrisure Duracade - Syngenta announced that it has received notification of import approval from the Chinese Ministry of Agriculture for its Agrisure Duracade trait. The approval covers corn grain and processing co-products, including dried distillers grains, for food and feed use. Corn rootworm costs US growers more than $1B annually due to yield losses and costs of control measures. Agrisure Duracade, which features a unique mode of action, helps deliver control of corn rootworm for a healthier corn crop with higher yield potential. The Agrisure Duracade trait has completed the FDA consultation process, received registration from the EPA and has been fully deregulated by the USDA since 2013.

09:05 EDT BlackRock says plans to spend $1B on technology and data

09:04 EDT Liberty Global launches production and distribution studio-Platform One Media - TPG Growth announced the launch of a global television production and distribution studio-Platform One Media. TPG Growth will fund their investment through Evolution Media, an investment partnership with CAA and Participant Media. Liberty Global will initially be taking a minority equity stake in the business, attributed to Liberty Global Group. Additional terms of the investment were not disclosed. The independent, start-up studio will curate, develop, produce, and distribute high-quality scripted programming for the U.S. and international markets. Veteran television executive Katie O'Connell Marsh, former CEO of Gaumont Television, has been appointed CEO and will be spearheading the company's activities.

09:03 EDT GE Healthcare, Jefferson Health launch multiyear risk sharing relationship - GE Healthcare and Jefferson Health have announced an eight-year, shared-risk relationship that will help Jefferson strategically transform healthcare delivery in the Philadelphia region for the benefit of patients and their families. The goal of this collaboration is to create a forward-looking, robust health system by removing redundancies and maximizing sourcing efficiencies. "One of only five such long-term relationships in the U.S. and its largest, GE Healthcare and Jefferson have the potential to generate $500M to $1B in efficiencies with Jefferson that can be directed toward services that best meet patient needs over the term of this relationship," the companies said.

09:02 EDT MagnaChip selected as a foundry partner by ELAN Microelectronics - MagnaChip Semiconductor announced it was selected as a foundry partner by ELAN Microelectronics to manufacture the world's first fingerprint sensor IC-based smartcard. The smartcard uses biometrics technology that provides secure identification to prevent credit card fraud, a severe and growing problem globally. The sensor-IC based smartcard will be manufactured utilizing MagnaChip's 0.35 micron Mixed Signal Thick IMD manufacturing process technology.

09:01 EDT RCI Hospitality appoints DBO USA as independet registered public accounting firm - RCI Hospitality Holdings announced the Audit Committee of its Board of Directors has appointed BDO USA as the company's independent registered public accounting firm for the fiscal year ending September 30 effective July 13. BDO will replace Whitley Penn LLP, RCI's previous auditor.

09:00 EDT Kroger sees one-time expense in 2017 on $1B contribution to benefit plans - In a regulatory filing, Kroger Co. reported that it has conducted a review of the structure and benefits of the company's sponsored defined benefit plans and as a result of this review will make several changes. Kroger said: "We will make a contribution to the plan this year of up to $1B that we believe will significantly address the underfunded position of the plan. Debt will be issued to pay for this funding of the pension liability. Our overall balance sheet obligations will not change. We are committed to maintaining our current investment grade rating. In addition, certain participants' benefit balances will be distributed out of the plan via a transfer to other qualified retirement plan options or a lump sum payout, based on each participant's election. We believe a contribution to the plan and payout to participants at this time are strategic opportunities based on the current interest rate environment, the potential future changes to the U.S. tax code, and scheduled Pension Benefit Guaranty Corporation fee increases. There will be a one-time expense in 2017 associated with the settlement of the company's obligations for the eligible participants' pension balances. This one-time cost is not contemplated in our earnings guidance for the year."

08:56 EDT FedEx says has experienced loss of revenue due to decreased volumes at TNT

08:56 EDT FedEx cannot estimate how long it will take to restore impacted systems

08:55 EDT FedEx reaffirms commitment to improve FedEx Express operating income - FedEx reaffirms its commitment to improve the operating income at the FedEx Express Group by $1.2B-$1.5B in fiscal 2020 versus fiscal 2017, assuming moderate economic growth and current accounting and tax rules.

08:47 EDT Scientific Games wins new contract as provider for Colorado Lottery - Scientific Games announced that the Company won a new, six-year contract as the primary instant games provider for the Colorado Lottery. The Company's new contract began July 1 and includes instant game planning, research and analysis, marketing services and sales support. The Colorado Lottery has two options to extend the contract two additional years.

08:39 EDT Multi-Color to acquire Labels Division of Constantia Flexibles for $1.3B - Multi-Color announces that it has signed a definitive agreement to acquire the Labels Division of Constantia Flexibles from Constantia Flexibles GmbH for approximately $1.3B, payable in cash and stock. The combined annual revenues and EBITDA of the two businesses will be approximately $1.6B and $300M, respectively. The combination brings together Constantia Labels' high performing Food and Beverage business with Multi-Color's strong Wine and Spirit, and Home and Personal Care platforms, and emerging global position in Healthcare. Additional growth opportunities for Multi-Color exist in Home and Personal Care by utilizing Constantia Labels' European operational footprint and assets. Growth opportunities for Constantia Labels exist in Food & Beverage and derive from Multi-Color's U.S. operational footprint and assets. The stronger combined footprint in Asia will provide further revenue opportunities. Cost synergies are anticipated to reach $15M by FY20 through a combination of procurement, SG&A, and manufacturing efficiencies. As an example, Multi-Color will utilize Constantia Labels' pressure sensitive substrate manufacturing capability in the U.S. and Europe to drive future efficiencies. Both companies currently generate EBITDA margins of approximately 18%. As part of the transaction, Mike Henry, current EVP and Head of Constantia Labels, is expected to become CEO-elect of Multi-Color Corporation. Current Multi-Color CEO, Vadis Rodato, is expected to retire in early 2018 after a transition period. Nigel Vinecombe will remain Executive Chairman. Two representatives of Constantia Flexibles will join Multi-Color's board, and the shares issued as consideration will be subject to customary lock-up provisions. The transaction is expected to close in Q3 of 2018.

08:34 EDT CRH Medical comments on estimated impact of CMS proposed fee - CRH Medical commented on the estimated impact of the Center for Medicare and Medicaid Services, or CMS, proposed fee schedule for 2018. The CMS 2018 Medicare Physician Fee Schedule Proposed Rule was announced on July 13 and updates payment policies, payment rates, and other provisions for services furnished under the Medicare Physician Fee Schedule on or after January 1, 2018. The Proposed Rule changes the billing structure for CRH's primary billing code for anesthesia provided in conjunction with a lower endoscopy by eliminating the existing billing code and replacing them with two new billing codes. The new billing codes will have the net effect of decreasing the amount CRH will likely bill and collect for anesthesia services provided in conjunction with a lower endoscopy. At this point, the Company expects that the new billing codes will be adopted by all commercial and federal payors effective January 1, 2018. The Company has analyzed the impact of the new codes on its business and has determined that if the new codes were implemented today as currently proposed, anesthesia revenue would decrease by approximately 8.5% and total revenue would decrease by approximately 7.5%. In addition, total adjusted operating EBITDA would decrease by approximately 13.5%. We believe that this would decrease our total adjusted operating EBITDA margin from 53% to approximately 47%.

08:33 EDT KKR to invest $200M in Radiant Life Care, acquire 49% stake - Radiant Life Care and KKR announced the signing of a definitive agreement under which KKR will invest approximately $200M to acquire a 49% stake in Radiant. Working together, KKR, Radiant's management team and the company's promoter, Abhay Soi, chairman and managing director of Radiant, will expand the company's footprint across India to make high-quality health care services more accessible to customers across the country and from overseas. Radiant develops and operates high-end, state-of-the-art quaternary care facilities in India. The company refurbishes hospitals and enhances their operations through initiatives such as the introduction of high-end specialty services, recruitment of experienced medical professionals, reengineering processes, capacity expansion and by modernizing facilities for improved care giving and patient experiences. KKR's investment in Radiant continues the firms' partnership, as KKR has previously extended financing to Radiant to support the company's growth. KKR makes the proposed investment from its KKR Asian Fund III.

08:32 EDT Party City makes minority investment in Punchbowl - Party City announced that it has entered into an agreement with Punchbowl, Framingham, MA, a technology platform leader for online invitations and digital greeting cards, to launch a digital invitation platform that enables Party City customers to make their own online invitations. The platform is now fully functional at PartyCity.com. In conjunction with this agreement, Party City has made a minority investment in Punchbowl. Ryan Vero, Executive Vice President of Party City Holdco and President of Party City Retail Group, has joined Punchbowl's Board of Directors.

08:31 EDT Limbach Holding announces partial repurchase of preferred stock - Limbach Holdings announced the repurchase of approximately $3 million of its existing Class A Preferred Stock, together with the accrued dividends associated with the partial repurchase. The Preferred Stock, which was issued on July 20, 2016, currently pays an 8% preferred dividend, increasing to 12% over the six-year term of the preferred, and may be converted into 2.00 shares of the cmpany's common stock for each preferred share held, representing a conversion price of $12.50 per share. The company repurchased 120,000 shares of its Preferred Stock from former sponsor 1347 Investors, funding the repurchase using bank debt carrying a current annual interest rate of approximately 5%, for an aggregate sum of approximately $4,092,153 in cash. Management expects the repurchase to be accretive to net income. Following the repurchase, Limbach will have approximately 280,000 remaining shares of Preferred Stock outstanding and will, for a period of six months, have the right to repurchase the remaining shares for the same purchase price per share at the time of any exercise of the repurchase option. As part of the agreement, 1347 Investors has also agreed to a three-month extension of the lock-up period on 509,500 common shares it holds, which was due to expire on July 20, 2017. Charlie Bacon, CEO of Limbach commented, "We are pleased to continue the process of reducing the Company's cost of capital in a manner that rewards our existing shareholders while also being accretive to Limbach's bottom line. Our ability to redeem a portion of the Preferred Stock at this time using lower-cost senior debt is an indication of our strengthening balance sheet and consistent operating performance. Furthermore, we retain the ability to pursue strategic M&A opportunities and fund long-term growth initiatives."

08:21 EDT Abbott commences tender offer for Alere perpetual preferred stock - Abbott (ABT) announced that it is commencing a tender offer to purchase for cash all outstanding shares of Series B Convertible Perpetual Preferred Stock of Alere (ALR) at a price of $402.00 per share of Preferred Stock, plus accrued but unpaid dividends to, but not including, the settlement date of the tender offer, net to the seller thereof in cash, without interest thereon and subject to any withholding of taxes required by applicable law. The Offer is being made pursuant to an Offer to Purchase, dated July 17, and in connection with Abbott's previously announced agreement to acquire Alere. The Merger is not conditioned upon, or otherwise subject to, the completion of the Offer. The Offer, however, is conditioned upon the consummation of the Merger in accordance with the terms of the Merger Agreement. The Offer will expire at 11:59 p.m., New York City time, on Friday, August 11. If, upon the expiration of the Offer, any of the conditions to the Offer have not been satisfied or waived, Abbott may elect to extend the Offer for any length of time and in its sole discretion, but is under no obligation to do so.

08:15 EDT Equity Bancshares announces merger agreement with Eastman National, Patriot Bank - Equity Bancshares announced it has entered into two definitive merger agreements with Oklahoma-based banks. Equity entered into definitive merger agreements with Eastman National Bancshares, Inc., the parent of The Eastman National Bank of Newkirk, Oklahoma, and Cache Holdings, Inc., the parent company of Patriot Bank of Tulsa, Oklahoma. Equity intends to close the mergers simultaneously during the fourth quarter of 2017. After the mergers conclude, Equity will have completed 13 successful integrations in its first 15 years, and five mergers since the Company's initial public offering on November 11, 2015. These newest mergers add a fourth state - Oklahoma - to Equity's Midwestern footprint, and each is within close proximity to Equity's corporate office in Wichita. Eastman's headquarters is 55 miles from Wichita, and 10 miles from the Kansas and Oklahoma border. Tulsa is 170 miles from Wichita.

08:12 EDT Integer appoints Joseph Dziedzic as CEO - Integer Holdings announced that Joseph Dziedzic has been appointed by Integer's board to serve as president & CEO, removing his interim designation. Dziedzic has entered into a new three-year Employment Agreement with the company effective immediately.

08:11 EDT CPI Aerostructures signs $21M supply agreement with Sikorsky - CPI Aerostructures (CVU) announced that it has signed a long-term supply agreement with Sikorsky, a Lockheed Martin company (LMT), to manufacture fuel panel assemblies for the UH-60M Black Hawk helicopter. This long-term agreement is valued at up to approximately $21M for a period of five years, beginning in 2018 and ending in 2022 per Sikorsky and the U.S. Army's recent signing of the Multi-Year IX contract.

08:06 EDT Patrick Industries completes acquisition of business of Elkhart for $10.9M - Patrick Industries announced that it has completed the acquisition of the business and certain assets of Elkhart, Indiana-based Wire Design, a manufacturer of wire harnesses for the recreational vehicle, or RV, marine and industrial markets. Wire Design's trailing 12-months revenue through June 2017 was approximately $10.0M and the total cash consideration paid for Wire Design was approximately $10.9M. The Company expects the acquisition to be immediately accretive to net income per share. The acquisition of Wire Design included the acquisition of accounts receivable, inventory, prepaid expenses, and machinery and equipment, and was funded under the Company's existing credit facility. Patrick will continue to operate the business on a stand-alone basis under the Wire Design brand name in its existing facility.

08:04 EDT HemaCare announces expansion of disease state cells for bioresearch - HemaCare Corporation announced that it has expanded its portfolio of disease state materials in response to increased demand from therapeutic and diagnostic developers. Recent additions to the portfolio include serum from rare diseases such as Granulomatosis with Polyangiitis, and Mixed Connective Tissue Disease, Dermatomyositis and Polymyositis, as well as plasma or serum from infectious diseases including HIV, Hepatitis, Zika and Dengue Fever. HemaCare continues to expand its biorepository of cryopreserved peripheral blood mononuclear cells, popularly used for drug discovery and development projects. The disease state cells in greatest demand include various leukemias and lymphomas, multiple myeloma, solid tumors, and common autoimmune diseases. Researchers utilize immune cells or plasma and serum from patients with a diagnosed disease for pre-clinical research and testing for new therapies, including drug target discovery and effectiveness in the patient population. In addition to freshly collected blood products, HemaCare offers "matched sets" of cryopreserved PBMCs and plasma and/or serum from a variety of in-stock disease state samples.

08:04 EDT Motorola Solutions, Neurala to develop intelligent cameras - Motorola Solutions announced that it will work with artificial intelligence company Neurala to develop intelligent cameras for public safety users. The goal is to enable police officers to more efficiently search for objects or persons of interest, such as missing children and suspects. The companies will work together to integrate Neurala's AI capabilities with Motorola Solutions' software and cameras, including its Si500 body-worn camera.

08:02 EDT Cardiome: Health Canada approves AGGRASTAT high dose regimen - Cardiome Pharma announced that the Therapeutic Products Directorate of Health Canada has approved the AGGRASTAT 25 mcg/kg (high) dose bolus regimen, as requested under the company's supplemental New Drug Submission. The 25 mcg/kg AGGRASTAT HDB regimen (25 mcg/kg over three minutes, followed by a maintenance infusion of 0.15 mcg/kg/min) will now become the recommended dose to reduce the rate of refractory ischemic conditions, new myocardial infarction and death in high-risk patients with non-ST-elevation acute coronary syndrome who undergo early percutaneous coronary intervention

08:01 EDT Neogen names John Adent as CEO - Neogen announced the company has named John Adent as CEO effective immediately. James Herbert, the company's founder and former CEO, will remain as executive chairman and work closely with Adent in the transition of responsibilities. Adent has built his career inside of two companies - 13 years with each. He began his career with management responsibilities for Purina developing animal feed manufacturing and sales in China and the Philippines. When Purina spun off that business to Agribrands, Adent continued his management role in the European division in Spain and Hungary, serving as managing director of the Hungarian operations after it was acquired by Cargill.

08:00 EDT TherapeuticsMD drops as TX-004HR update seen not reading 'well at all' - Shares of TherapeuticsMD (TXMD), a women's healthcare company, plunged in pre-market trading after the company provided a regulatory update on the status of its New Drug Application for TX-004HR. REGULATORY UPDATE: In a statement, TherapeuticsMD provided an update on the status of its NDA for TX-004HR, its investigational applicator-free estradiol vaginal softgel capsule for the treatment of moderate-to-severe vaginal pain during sexual intercourse, saying that it participated in a Type A Post-Action Meeting on June 14 with the FDA's Division of Bone, Reproductive, and Urologic Products. At the meeting, the two sides discussed the complete response letter that TherapeuticsMD previously received for the NDA, which also allowed the company to present new information it believes could address concerns raised in the letter and "positively" impact the status of the NDA. TherapeuticsMD said it has formally submitted the new information for consideration per the FDA's request. However, the company noted that while it continues to have "productive" dialogue with the FDA related to its review, it has not yet received a formal timeline for a conclusion of this review. TherapeuticsMD said it "looks forward" to working with the FDA to address its concerns and sees further clarity on the pathway forward for the NDA "in the coming weeks," adding that it "reserves the right to pursue the FDA's formal dispute resolution process if a reasonable timeline to address such concerns cannot be established." WHAT'S NOTABLE: On May 8, TherapeuticsMD said it received the CRL from the FDA regarding the TX-004HR NDA. At the time, the company said it planned to meet with the FDA as soon as possible to address the concerns raised in the letter, which involved "the lack of long-term endometrial safety data for TX-004HR beyond the 12-weeks studied in the pivotal phase 3 Rejoice Trial." Adam Feuerstein, who previously wrote about biotech stocks for TheStreet and currently is a senior writer for StatNews, tweeted in May that the company lacks the cash to conduct the type of safety study of TX-004HR requested by the FDA, without cutting expenses or raising more money, adding that a delay for this product "could be fatal" for the company. This morning, Feuerstein tweeted that TherapeuticsMD's regulatory update on resolving the CRL "does not read well at all." ANALYST COMMENTARY PRIOR TO UPDATE: Oppenheimer analyst Jay Olson upgraded TherapeuticsMD to Outperform recently ahead of the FDA meeting update, and said there was a "reasonable probability" of positive news. Olson argued that data on complete response letters provides confidence that there are likely no other TX-004HR approvability issues besides lack of long-term endometrial safety data beyond the 12 weeks studied in REJOICE and that there are likely no approvability issues that would have any implications for TX-001HR. PRICE ACTION: In pre-market trading, TherapeuticsMD is down 12%.

07:48 EDT J.B. Hunt lowers JBT segment 2017 revenue view to $0.37B-$0.39B - J.B. Hunt lowered its 2017 JBT segment expectations, lowering its revenue view for the segment to $0.37B-$0.39B, lowering its truck count to 50-100 and lowering its operating margin forecast for the segment to 5%-6%. For its ICS segment, the company raised its technology investment view to $15M-$17M and lowered its branches view to 43 while cutting its operating margin view to 1%-3%. For overall company capital expenditures, the company now sees total 2017 capex of $471M. Guidance from revised full year 2017 financial expectations posted on the company's website.

07:44 EDT Liberty Media launches process to increase Formula 1 term loan - Liberty Media Corporation (LMCA) announced that it intends to launch a process to syndicate an up to $200M add-on to the $3,102 million term loan under the syndicated first lien facilities agreement executed by certain subsidiaries of Delta Topco Limited, the Liberty subsidiary which holds all of its interests in Formula 1 (FWONA). In addition, Liberty intends to seek amendments to the first lien facilities agreement to, among other things, increase the revolving facility capacity to up to $500M. The term loan and revolving facility will remain non-recourse to Liberty. Liberty intends to cause the Delta Topco subsidiaries to use the proceeds of the term loan add-on together with cash on hand to repay the balance of the $300 million second lien facility to which the subsidiaries of Delta Topco are party. Delta Topco and its subsidiaries are attributed to the Formula One Group.

07:41 EDT Netlist files legal proceedings against SK hynix in courts of Germany and China - Netlist announced it has filed legal proceedings for patent infringement against SK hynix in the courts of Germany and China based on the infringement of Netlist patents in those countries by SK hynix LRDIMM enterprise memory products. Netlist also recently filed a new lawsuit in the U.S. District Court for the Central District of California asserting two recently issued U.S. patents against SK hynix RDIMM and LRDIMM products. The lawsuits in Germany and China are based on SK hynix's infringement of Netlist's patented distributed buffer architecture which was adopted as the industry standard for DDR4 LRDIMM. In the Central District, the court is scheduled to conduct a claim construction hearing on July 27 for the Netlist patents asserted last year. SK hynix recently filed a motion in the Central District asking the court for a partial stay of those proceedings pending completion of Inter Partes Review of the patents asserted in that action.

07:40 EDT Spark: FDA accepts BLA, grants Priority Review to voretigene neparvovec - Spark Therapeutics announced that the FDA has accepted for filing the Biologics License Application, or BLA, and granted Priority Review for voretigene neparvovec, an investigational, potential one-time gene therapy candidate for the treatment of patients with vision loss due to confirmed biallelic RPE65-mediated inherited retinal disease, or IRD. The investigational gene therapy, which has the proposed trade name LUXTURNA, has the potential to be both the first pharmacologic treatment for IRD and the first gene therapy for a genetic disease in the United States. Priority Review is granted to therapeutics that would offer major advances over existing therapies or would provide a treatment where no adequate therapy exists. FDA's goal for taking an action on Priority Review applications is six months. For the review of LUXTURNA, FDA has assigned a PDUFA date of Jan. 12, 2018.

07:37 EDT CymaBay announces 'positive' results from seladelpar Phase 2 study - CymaBay announced positive interim results from its ongoing low-dose Phase 2 study of seladelpar in patients with primary biliary cholangitis, or PBC, a life-threatening and life-limiting chronic cholestatic liver disease. In the first part of the study, patients at high risk of disease progression, with an inadequate response to ursodeoxycholic acid, or UDCA, as characterized by a persistent elevation in alkaline phosphatase, or AP, or who were intolerant to UDCA, received either 5 mg or 10 mg of seladelpar once-daily. A planned interim analysis of the first 24 patients enrolled in these two dose groups demonstrated after 12 weeks of treatment a significant AP reduction from baseline of 39% and 45% for the 5 mg and 10 mg groups, respectively. On seladelpar, 45% of patients in the 5 mg and 82% of patients in the 10 mg dose groups had AP values less than 1.67 times the upper limit of normal, or ULN. AP is an established surrogate marker of disease progression in PBC, and reaching a level of less than 1.67 x ULN is a key component in the composite endpoint used for regulatory approval. Alongside substantial reductions in AP, patients in both dose groups experienced decreases in other liver markers of cholestasis including gamma glutamyl transferase and total bilirubin. Seladelpar also improved metabolic and inflammatory markers with patients experiencing decreases in low-density lipoprotein-C and high sensitivity C-reactive protein. There were no serious adverse events and no safety transaminase signal was observed at either dose. Instead, mean transaminase levels decreased over the course of treatment, further supporting seladelpar's anti-inflammatory activity. Consistent with prior studies, there was no signal for drug-induced pruritus. After sharing preliminary results from the study, the FDA has agreed to allow continuation of seladelpar treatment beyond six months for the 5 mg and 10 mg doses.

07:34 EDT Extreme Networks completes acquisition of Avaya networking business - Extreme Networks announced that it has completed its acquisition of Avaya, Inc.'s networking business. The acquisition supports the company's growth strategy to lead the enterprise networking market with end-to-end software-driven solutions for enterprise customers from the data center to the wireless edge. As part of this transaction, Extreme acquired customers, personnel and technology assets from Avaya. Extreme continues to anticipate the transaction will be accretive to cash flow and earnings for its FY18, which began on July 1, and expects to generate over $200M in annualized revenue from the acquired networking assets from Avaya.

07:33 EDT Signet Jewelers names Virginia 'Gina' Drosos as CEO - Signet Jewelers announced that its board of directors has appointed Virginia "Gina" Drosos, who has served as an independent director of the company's board since 2012, as the new CEO of Signet, effective August 1. Drosos has over 29 years of executive leadership experience in the beauty and consumer goods industries, most recently serving as president & CEO of Assurex Health. Mark Light, who has served as CEO of Signet since 2014, has decided to retire after more than 35 years with the company due to health reasons.

07:31 EDT BNY Mellon names Charles Scharf as CEO - The Bank of New York Mellon (BK) nnounced that Charles Scharf has been appointed CEO and a Director of the company, effective immediately, and will become Chairman of the Board of Directors effective January 1, 2018. Gerald Hassell will continue to serve as Chairman of the Board through December 31, 2017, working closely with Scharf to ensure a seamless transition of responsibilities. Scharf was most recently CEO and a Director of Visa (V) from October 2012 through December 2016 and was recognized for transforming the firm into a technology-driven digital commerce company.

07:17 EDT Akoustis appoints John Kurtzweil as CFO - Akoustis Technologies announced it named John Kurtzweil as CFO. Kurtzweil replaces Cindy Payne, who will remain with the company as its Vice President of Finance and Corporate Controller. Concurrent with his appointment as CFO, Kurtzweil has resigned as a director on the Akoustis board.

07:14 EDT China Lodging reports Q2 blended RevPAr RMB179 vs. RMB157 last year - China Lodging Group announced its preliminary results for the hotel operation in the Q2. Reports Q2 hotel in operations 3,541 with 205 added during Q2.

07:09 EDT Radius Health appoints Jesper Hoiland as CEO - Radius Health (RDUS) announced that Jesper Hoiland has been appointed President and CEO of the company. Prior to joining Radius, Hoiland served as president of Novo Nordisk Inc. USA (NVO).

07:07 EDT Dicerna presents preclinical data on DCR-PHXC - Dicerna Pharmaceuticals presented on July 15, new preclinical data suggesting the potential utility of DCR-PHXC, a GalXC-based investigational therapy, for treating all forms of primary hyperoxaluria. In a series of presentations at the 12th International Workshop on Primary Hyperoxaluria for Professionals, Patients and Families in Tenerife, Spain from July 14-16, 2017, Dicerna scientists presented research from animal models demonstrating how DCR-PHXC inhibits the lactate dehydrogenase A gene, which Dicerna has identified as potentially being an optimal therapeutic target in patients with PH, a group of severe, rare, inherited disorders of the liver that often result in kidney failure. In patients with PH, the liver over-produces oxalate, a metabolite that can accumulate throughout the body and particularly in the kidneys, often resulting in end-stage renal disease and the need for both kidney and liver transplants. DCR-PHXC, the lead investigational product candidate in Dicerna's pipeline of therapies targeting rare diseases of the liver, yields potent, liver-specific LDHA inhibition in animal models of PH, an effect that reduces oxalate to near-normal levels, which may prevent the damage caused to kidneys and other organs by oxalate accumulation. At the 12th International Workshop, Dicerna presented research findings on LDHA inhibition, which was shown in animal models to reduce oxalate to normal or near-normal levels in PH types 1, 2, and ethylene glycol-induced PH. In contrast, research findings showed that inhibiting the enzyme glycolate oxidase -- a common target of investigational therapies for PH, including Dicerna's earlier IV-administered program for PH1 -- does not appear to have the potential to treat PH2 or IPH. In animal models of PH2 and ethylene glycol-induced PH, LDHA knockdown with DCR-PHXC nearly normalized oxalate levels within one-month post-treatment, whereas oxalate levels remained unchanged and elevated in animals receiving GO-targeted therapy. LDHA reduction has a linear correlation with oxalate reduction and offers a minimal metabolic intervention, unlike GO reduction. These benefits of LDHA inhibition may translate into consistent therapeutic activity even in the event of a missed dose. There are numerous case reports of LDHA deficiency naturally occurring in humans, with no reported adverse effects due to deficiency in the liver.

07:05 EDT Transtex files patent infringement lawsuit against Wabco and Laydon Composites - Transtex and Transtex Composite announced that it has filed a patent infringement lawsuit against WABCO Holdings and Laydon Composites in the U.S. District Court for the Eastern District of Texas, Marshall Division on Friday, June 30. In the lawsuit, Transtex asserts that WABCO Holdings and Laydon Composites infringe eight of Transtex's patents by manufacturing and selling infringing trailer skirts under the trade name TrailerSkirt.

07:04 EDT Asterias completes enrollment, dosing of AIS-A 20M cell cohort - Asterias Biotherapeutics announced completion of enrollment and dosing of the AIS-A 20M cell cohort in the company's ongoing SCiStar Phase 1/2a clinical study of AST-OPC1 in complete cervical spinal cord injury. In this cohort, five patients with AIS-A grade SCIs were administered 20M AST-OPC1 cells. The 20M AST-OPC1 cell dose is the highest to be investigated in the SCiStar Phase 1/2a clinical trial. The company expects to report top-line six-month results from this cohort in January 2018. Enrolling and dosing the fifth patient in this cohort triggers the final $1.5M grant payment from the California Institute for Regenerative Medicine under the existing $14.3M Strategic Partnerships Award grant awarded to Asterias. Asterias expects to receive this grant payment in the third quarter of 2017. Asterias has now completed enrollment and dosing in four of the five planned SCiStar study cohorts and enrolled twenty patients in the SCiStar study. Twenty-five patients have been administered AST-OPC1 after including patients from a previous Phase 1 safety trial and results-to-date continue to support the safety of AST-OPC1, with no serious adverse events related to AST-OPC1 or its administration. In June 2017, Asterias reported 9 month data from the AIS-A 10 million cell cohort that showed improvements in arm, hand and finger function observed at 3-months and 6-months following administration of AST-OPC1 were confirmed and in some patients further increased at 9-months. The company intends to complete enrollment of the entire SCiStar study later this year, with multiple safety and efficacy readouts anticipated during the remainder of 2017 and 2018.

07:03 EDT Merck to present clinical, real-world data at Alzheimer's Association conference - Merck announced the presentation of data at The Alzheimer's Association International Conference taking place in London, July 16-20, 2017. Notable abstracts to be presented at The Alzheimer's Association International Conference include: First Evaluation of the Neurofibrillary Tangles Radioligand MK-6240 in AD Patients; In Vitro Binding Studies to Evaluate the NFT-Specificity of MK-6240 and AV-1451 Binding in Subcortical Regions of Human AD Brain.

07:01 EDT Valeant to sell Obagi Medical Products business for $190M cash - Valeant Pharmaceuticals announced that certain affiliates of the company have entered into an agreement to sell its Obagi Medical Products business for $190M in cash to Haitong International Zhonghua Finance Acquisition Fund I, L.P. Limited partners of the Fund include industry veterans in other geographic markets, such as China Regenerative Medicine International Limited. Valeant will use proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility. The transaction is expected to close in the second half of 2017, subject to customary closing conditions, including receipt of applicable regulatory approvals. The Company currently estimates that the full-year 2017 revenue and Adjusted EBITDA for the Obagi business would have been approximately $85M and $30M, respectively.

07:00 EDT Kemper estimates Q2 results will include $32M-$38M in pre-tax catastrophe losses - Kemper announced that it estimates that its Q2 results will include pre-tax catastrophe losses in the range of $32M to $38M. The company does not expect to recover any of these losses under its catastrophe reinsurance program. The losses were related to more than 15 storms throughout the country and adversely impacted losses for both homeowners and auto lines.

06:57 EDT Church & Dwight to acquire Waterpik for approximately $1B in cash - Church & Dwight has signed a definitive agreement to acquire Water Pik for approximately $1B in cash. The transaction, which is subject to regulatory approval and other customary conditions, is expected to close in the third quarter. Waterpik's net sales for the trailing twelve months through June 30, 2017 were approximately $265M. Waterpik is the #1 water flosser brand and the #1 replacement showerhead brand in the U.S. Approximately 70% of net sales are in the water flosser segment with the remainder in showerheads. The international business represents approximately 20% of sales. The products are marketed in the U.S. and Canada and exported to over 80 countries. Waterpik's trailing twelve months EBITDA was approximately $80M, a 30% EBITDA margin. Once the business is fully integrated, Church & Dwight expects to leverage its distribution network and operating discipline to achieve an estimated $10M in operating synergies by 2019. The acquisition is structured as a stock purchase that the Company expects to finance with debt. The acquisition is expected to be neutral to 2017 EPS, inclusive of transition costs, acquisition-related expenses, interest expense and intangible amortization expense.

06:55 EDT Church & Dwight to acquire Waterpik for approximately $1B

06:51 EDT Regis announces field reorganization - Regis announced a reorganization of its field structure by brand/concept. This change, effective August 1, will help simplify and better focus its business by re-aligning the existing field leaders into four distinct field organizations: SmartStyle, Supercuts, Signature Style, and Premium Mall Brands. In the past these field leaders were responsible for a variety of brands, with different business models, services, pay plans and guest expectations. Post-reorganization, each U.S.-based Vice President, Field Operations will be dedicated to a specific brand/concept, supported by Regional Directors and Senior District Leaders who are also aligned by brand/concept as well as geography.

06:46 EDT Leidos awarded $64M task order from U.S. Army - Leidos was awarded a task order from the U.S. Army to integrate, test and demonstrate the three complete Airborne Reconnaissance Low-Enhanced, or ARL-E, systems under the ARL-E program of record. The single-award cost-plus fixed-fee task order has a one-year base period of performance, two nine-month options, and a total contract value of approximately $64M if the options are exercised. Work will be performed primarily at Aberdeen Proving Ground, MD.

06:34 EDT IBM unveils IBM Z, capable of running over 12B encrypted transactions per day - IBM unveiled IBM Z, the next generation of the world's most powerful transaction system, capable of running more than 12 billion encrypted transactions per day. The new system also introduces a breakthrough encryption engine that, for the first time, makes it possible to pervasively encrypt data associated with any application, cloud service or database all the time. IBM Z's new data encryption capabilities are designed to address the global epidemic of data breaches, a major factor in the $8 trillion cybercrime impact on the global economy by 2022. Of the more than nine billion data records lost or stolen since 2013, only four percent were encrypted, making the vast majority of such data vulnerable to organized cybercrime rings, state actors and employees misusing access to sensitive information. In the most significant re-positioning of mainframe technology in more than a decade, when the platform embraced Linux and open source software, IBM Z now dramatically expands the protective cryptographic umbrella of the world's most advanced encryption technology and key protection. The system's advanced cryptographic capability now extends across any data, networks, external devices or entire applications - such as the IBM Cloud Blockchain service - with no application changes and no impact on business service level agreements.

06:33 EDT LSC Communications acquires CREEL Printing, terms not disclosed - LSC Communications announced that it has entered into a definitive agreement to acquire CREEL Printing, a leading privately-owned offset and digital printing company based in Las Vegas, Nevada. CREEL's capabilities include full-color web and sheetfed printing, regionally distributed variable digital production, large-format printing, and integrated digital solutions. CREEL has approximately 700 employees in six facilities across the country, and is ranked among the top 50 commercial printers, 10 largest publication printers and largest commercial digital printers in the world.

06:32 EDT BlackRock reports Q2 total net inflows $104B - Reports $104B of total net inflows in the second quarter driven by breadth of diversified business model and investments we have made to grow our platform over time. Record $94B of long-term net inflows, positive across client type, product type and investment style. 12% growth in technology and risk management revenue year-over-year reflects strength of globally integrated investment and technology platform.

06:31 EDT BlackRock reports Q2 AUM $5.69T, up 16% y/y, up 5% sequentially

06:20 EDT Trian made decision to nominate Peltz so he can 'act as a catalyst' at P&G

06:16 EDT Trian Partners nominates Nelson Peltz for election to Procter & Gamble board - Trian Fund Management, whose investment funds beneficially own approximately $3.3B of shares of The Procter & Gamble Company, filed a preliminary proxy statement with the SEC for the election of Nelson Peltz, its CEO and Founding Partner, to P&G's Board of Directors at the 2017 Annual Meeting of Shareholders. As one of P&G's largest shareholders, and given P&G's disappointing results over the past decade, Trian has a keen interest in helping the company address the challenges it is facing.

06:08 EDT Carlyle Group to acquire ADB Safegate; terms not disclosed - The Carlyle Group announced it has entered into a definitive agreement to acquire ADB SAFEGATE, a global airport performance solutions provider, from PAI Partners, alongside existing management of the company. The transaction is expected to close in the second half of 2017 subject to customary requirements and regulatory approvals. Equity for the investment will come from Carlyle Europe Partners IV, a European-focused upper-mid market buyout fund. Further financial details of the transaction were not disclosed.

06:03 EDT Rubicon Project acquires nToggle for $38.5M - Rubicon Project announced that it has acquired nToggle, a technology company that makes it easier and more cost effective for programmatic buyers to find the inventory they're looking for. The technology will be made available on the Rubicon Project platform in the coming months, giving buyers the option to utilize the bid request optimization technology. nToggle's proprietary algorithm-driven software utilizes analytical and data science techniques to help supply and demand partners manage the bid stream across all digital media by traffic shaping real-time bidding requests, optimizing traffic, and reducing the number of duplicates and irrelevant bid requests DSPs must process. The transaction was completed on July 14 for aggregate cash consideration of $38.5M. The acquisition is expected to generate a modest increase in expenses in 2017.