Stockwinners Market Radar for July 19, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:04 EDT DXC Technology unit enters Master Accounts Receivable Purchase Agreement - According to a regulatory filing, on July 14, 2017, DXC Technology subsidiary Enterprise Services LLC entered into a Master Accounts Receivable Purchase Agreement, among the Seller, The Bank of Tokyo Mitsubishi UFJ (MTU), New York Branch, as administrative agent, and BTMU, The Bank of Nova Scotia (BNS) and Mizuho Bank (MFG), as purchasers. Concurrently, the company entered into a Guaranty made in favor of the Agent, that guarantees the obligations of the Seller. The structured transaction results in the continuous non-recourse true sale of eligible receivables. The Purchase Agreement establishes a federal government obligor receivables purchase facility that provides for up to $200M in funding based on the availability of eligible receivables and the satisfaction of certain conditions. The Facility Limit may be increased from time to time pursuant to the terms of the Purchase Agreement. The Facility is a committed facility that has an initial term of one year, unless terminated earlier by the Seller, the Agent or the Purchasers. The Purchase Agreement also provides for optional extensions of the Facility's term, if agreed to by the Purchasers, in each case for an additional six month duration. Each such extension may be requested as early as 210 days prior to, and not less than sixty days prior to, the then scheduled termination date. Under the Facility, the Seller will sell eligible federal government obligor receivables, including both receivables that have already been billed under an invoice and also certain unbilled receivables arising from contracts where the Seller has performed work under a "cost plus fixed fee" or "time and materials" contract and other required conditions.

18:43 EDT Ambac Financial reaches agreement on segregated account rehabilitation - Ambac Financial has entered into a rehabilitation exit support agreement with a group of holders of beneficial interests in Deferred Amounts of the Segregated Account of AAC and AAC surplus notes due 2020 regarding a holistic restructuring transaction designed to facilitate the conclusion of the rehabilitation of the Segregated Account. AAC has also received confirmation from the Office of the Commissioner of Insurance for the State of Wisconsin of its support for the Transaction and its intention to move forward with an amendment to the Plan of Rehabilitation for the Segregated Account to conclude the rehabilitation of the Segregated Account. The transaction consists of three main components, which in the aggregate satisfy the OCI's regulatory capital requirements for the Segregated Account's exit from rehabilitation. The Amendment and Exchange Transactions, if consummated, include a 6.5% discount and would provide to AAC and third party holders of beneficial interests in DPOs and General Account Surplus Notes, an effective consideration package totaling 93.5% of each dollar of accretive value. If consummated, the Transaction will on a pro forma basis result in an increase of approximately $361.1M or $8.02 of Book Value per share and approximately $461.4M or $9.83 of Adjusted Book Value per share. The Supporting Holders represent over 50% of the principal amount outstanding of General Account Surplus Notes, and 34% of the DPOs, in each case held by third parties and have agreed to support the Transaction. If all conditions are met, the Amendment, Exchange Transactions and the issuance of the Tier 2 Notes are anticipated to close during Q4.

18:03 EDT Steel Dynamics CEO sees North American steel consumption 'steady' - CEO Mark Millet said, "We remain optimistic that macroeconomic and market conditions are in place to benefit domestic steel consumption in the coming years. Although U.S. automotive production has peaked, we believe North American automotive steel consumption will be steady, and that there will be additional growth in the energy and construction sectors, especially for larger, public sector infrastructure projects. We continue to strengthen our financial position through strong cash flow generation and the execution of our long-term strategy. We are well-positioned for growth, and remain focused on delivering shareholder value through organic and strategic growth opportunities."

17:49 EDT Kinder Morgan backs FY17 adjusted EBITDA view of about $7.2B - For 2017, KMI's budget was to declare dividends of $0.50 per share, achieve DCF of approximately $4.46 billion and Adjusted EBITDA of approximately $7.2 billion. KMI also budgeted to invest $3.2 billion in growth projects during 2017, to be funded with internally generated cash flow without the need to access equity markets, and to end the year with a net debt-to-Adjusted EBITDA ratio of approximately 5.4 times. As a result of the successful IPO of its Canadian assets, KMI now expects to end the year with a net debt-to-Adjusted EBITDA ratio of approximately 5.2 times, growth capital investment of $3.1 billion and DCF less than 1 percent below budget. The $3.1 billion in growth capital does not include KML-related expansion capex as KMI expects KML to be a self-funding entity and does not anticipate making such contributions. Excluding the impact of KMI's sale of a 30 percent interest in its Canadian assets in the IPO, DCF is forecast to be on plan. KMI does not provide budgeted net income attributable to common stockholders due to the inherent difficulty and impracticality of predicting certain amounts required by GAAP, such as ineffectiveness on commodity, interest rate and foreign currency hedges, unrealized gains and losses on derivatives marked to market, and potential changes in estimates for certain contingent liabilities. KMI's expectations assume average annual prices for West Texas Intermediate crude oil of $53 per barrel and Henry Hub natural gas of $3 per MMBtu, consistent with forward pricing during the company's budget process. The vast majority of cash KMI generates is fee-based and therefore not directly exposed to commodity prices. The primary area where KMI has commodity price sensitivity is in its CO2 segment, with the majority of the segment's next 12 months of oil and NGL production hedged to minimize this sensitivity. The segment is currently hedged for 34,920 barrels per day (Bbl/d) at $58.91 per barrel for the remainder of the year, as well as 21,192 Bbl/d at $60.76/Bbl in 2018; 11,600 Bbl/d at $55.93/Bbl in 2019; 6,700 Bbl/d at $53.28/Bbl in 2020; and, 1,800 Bbl/d at $52.72/Bbl in 2021. For its 2017 budget, the company estimates that every $1 per barrel change in the average WTI crude oil price impacts distributable cash flow by approximately $6 million and each $0.10 per MMBtu change in the price of natural gas impacts distributable cash flow by approximately $1 million.

17:40 EDT Chemical Financial raises quarterly dividend 3.7% to 28c per share

17:34 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Sarepta (SRPT), up 14.5%... Plexus (PLXS), up 6.5%... Datawatch (DWCH), up 4.7%... United Rentals (URI), up 3.6%... T-Mobile (TMUS), up 2.9%. ALSO HIGHER: Highpower International (HPJ), up 26.8% after it reported preliminary Q2 net sales that marked a 36%-42% increase from the same quarter a year ago... Avista (AVA), up 19% after it agreed to be acquired by Hydro One for $53 per share in a $5.3B all-cash transaction... Kinder Morgan (KMI), up 3.7% after it announced an expected 60% dividend increase for 2018 and authorized a $2B share buyback program... Nike (NKE), up 2.1% after the stock was upgraded to Overweight form Equal Weight at Morgan Stanley... Mylan (MYL), up 0.7% after it and Theravance Biopharma (TBPH) announced "positive" results from a 12-month Phase 3 safety study of revefenacin. DOWN AFTER EARNINGS: PTC (PTC), down 12.2%... C.H. Robinson (CHRW), down 8%... Qualcomm (QCOM), down 1.7%... American Express (AXP), down 1.4%... Crown Holdings (CCK), down 0.3%. ALSO LOWER: Aerie Pharmaceuticals (AERI), down 5.6% after reporting 'successful' 12-month safety results of its "Mercury 1" Phase 3 registration trial for Roclatan... Gladstone (GOOD), down 5% after it filed to sell common stock... Bunge (BG), down 3.4% after it launched a cost reduction program and guided for "modestly profitable" earnings per share for the second quarter.

17:25 EDT Nierenberg lowers stake in RadiSys to 4.1% from 6.9%

17:18 EDT Alcoa backs prior shipments guidance for all three segments

17:16 EDT Point72 reports 5.1% passive stake in Red Rock Resorts

17:09 EDT Alcoa note that china needs to work harder to reduce supplies - Comments from Q2 earnings call.

16:56 EDT Van Berkom & Associates reports 4.58% passive stake in Fox Factory

16:45 EDT CH Robinson Worldwide trading resumes

16:41 EDT Avista acquired by Hydro One for $53 per share - Hydro One Limited and and Avista jointly announced a definitive merger agreement under which Hydro One will acquire Avista for $53 per share in a $5.3B all-cash transaction. Together, Hydro One and Avista will create a North American leader in regulated electricity and natural gas business with over $25.4B in combined assets. The transaction brings together two industry-leading regulated utilities with over 230 years of collective operational experience as well as shared corporate cultures and values. The combined entity will safely and reliably serve more than two million retail and industrial customers and hold assets throughout North America including Ontario, Washington, Oregon, Idaho, Montana and Alaska. "This marks a proud moment for Canadian champions as we grow our business into a North American leader," said Mayo Schmidt, President and CEO, Hydro One Limited. "This transaction demonstrates the power and value of the transition into an investor-owned utility, by allowing for healthy expansion into new lines of regulated utility business and new jurisdictions, such as the U.S. Pacific Northwest which is experiencing customer and economic growth." "With a focus on operational excellence and building our earnings streams, we are positioned for long-term, sustainable growth," said Schmidt. "We are further accomplishing this goal by bringing together two companies with shared cultures and industry expertise to create a North American regulated utility leader. This combination means greater scale, diversity and financial flexibility." Hydro One has a uniquely strong track record consolidating electricity utilities. Since the IPO, Hydro One has also delivered on cost savings and efficiencies for shareholders and customers. Through the company's energy conservation programs, Hydro One has helped customers and municipalities save 700 GWh year-to-date. "Since our initial public offering, we have significantly enhanced our current operations while exploring opportunities that extend and diversify our regulated assets," said Schmidt. "We constantly seek to deliver exceptional value to shareholders, customers, and the communities we serve through stable, increasing regulated returns, exceptional service, and community engagement." This strategic combination demonstrates the value of consolidation by bringing together two highly complementary platforms to create one of North America's largest regulated utilities, meaningfully enhancing both shareholder and customer value. In addition, over time, non-headcount efficiencies will be realized through collaboration and sharing of best practices on IT, innovation and supply chain purchasing, all of which will further enhance cost savings. No workforce reductions are anticipated as a result of this transaction for either Avista or Hydro One.

16:37 EDT PolyOne sells its Designed Structures and Solutions business for $115M - PolyOne completed the previously announced sale of its Designed Structures and Solutions business, which includes sheet, rollstock and packaging assets, to Arsenal Capital Partners for $115M. Proceeds from the sale have been used to fund the recent acquisitions of Rutland and Mesa.

16:35 EDT Hydro One to acquire Avista for $53 per share in $5.3B all-cash transaction - Hydro One and Avista jointly announced a definitive merger agreement under which Hydro One will acquire Avista for $53 per share in a $5.3B all-cash transaction. Together, Hydro One and Avista will create a North American leader in regulated electricity and natural gas business with over $25.4B in combined assets. The transaction brings together two industry-leading regulated utilities with over 230 years of collective operational experience as well as shared corporate cultures and values. The combined entity will safely and reliably serve more than two million retail and industrial customers and hold assets throughout North America including Ontario, Washington, Oregon, Idaho, Montana and Alaska. No workforce reductions are anticipated as a result of this transaction for either Avista or Hydro One. Following completion of the transaction, Avista will maintain its existing corporate headquarters in Spokane and will continue to operate as a standalone utility in Washington, Oregon, Idaho, Montana and Alaska. Its management team and employees will remain in place and it will operate with its own Board of Directors representing the interests of the Pacific Northwest and the communities it serves. The combined company's headquarters will be based in Toronto. The transaction was unanimously approved by the Boards of Directors of both companies and is expected to close in the second half of 2018.

16:33 EDT Akorn shareholders approve of merger agreement with Kabi - Akorn announced that its shareholders, at a special meeting, have overwhelmingly voted to approve the previously announced merger agreement providing for the acquisition of Akorn by Fresenius Kabi, a subsidiary of Fresenius SE & Co. KGaA. The transaction remains subject to regulatory approvals and customary closing conditions, and the companies expect the acquisition will close by early 2018.

16:32 EDT Valero Energy Partners increases quarterly distribution 6.4% - The board of Valero Energy Partners, the general partner of Valero Energy Partners, has approved the Partnership's Q2 cash distribution of 45.5c per unit. This distribution represents a 6.4% increase over the Partnership's previous quarterly distribution. The distribution is payable on August 10 to unitholders of record at the close of business on August 1.

16:31 EDT Landmark Infrastructure increases quarterly distribution - Landmark Infrastructure Partners announced that the board of its general partner declared a cash distribution of 35.5c per common unit, or $1.42 per common unit on an annualized basis, for the quarter ended June 30. This quarter's cash distribution, which represents a 6.8% increase year-over-year, marks the tenth consecutive quarter that the Partnership has increased its quarterly cash distribution since its IPO in November 2014. The distribution is payable on August 14 to common unitholders of record as of August 1.

16:28 EDT Theravance Biopharma, Mylan: 'Positive' data from Phase 3 study of TD-4208 - Theravance Biopharma (TBPH) and Mylan (MYL) announced positive results from a 12-month Phase 3 safety study of revefenacin (TD-4208), an investigational long-acting muscarinic antagonist and a proposed once-daily, nebulized bronchodilator in development for the treatment of chronic obstructive pulmonary disease. The study of 1,055 patients with COPD demonstrated that revefenacin was generally well-tolerated, and no new safety issues were identified. Rates of adverse events and serious adverse events were low and comparable to those seen in the standard of care treatment arm. The data from these studies, combined with the results will support the submission of the new drug application for revefenacin with the U.S. FDA, anticipated in the fourth quarter of 2017.

16:25 EDT Emergent BioSolutions to buy raxibacumab from GlaxoSmithKline - Emergent BioSolutions (EBS) announced that it has entered into an agreement with GSK (GSK), one of the world's leading healthcare companies, to acquire raxibacumab, a fully human monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment and prophylaxis of inhalational anthrax. Emergent also plans to assume responsibility for a multi-year contract with the Biomedical Advanced Research and Development Authority, BARDA, valued at up to approximately $130M, to supply the product to the U.S. Strategic National Stockpile. The all-cash transaction consists of a $76Mn upfront payment and up to $20M in product sale and manufacturing-related milestone payments, all of which would likely become due in 2019. Emergent expects to purchase product from GSK to fulfill deliveries to the SNS under the current BARDA contract and plans to transfer raxibacumab manufacturing to existing Emergent facilities in Baltimore, Maryland in 2020. Upon the closing of the transaction, Emergent will: Acquire raxibacumab, including corresponding product rights, regulatory approvals and intellectual property rights; and Plan to assume responsibility for an existing contract with BARDA, a division of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services, with a delivery order performance period through November 2019 to supply raxibacumab to the SNS, with a remaining value of up to approximately $130M. Emergent expects to fulfill the deliveries of raxibacumab to the SNS by the end of 2019 under the current BARDA contract, subject to the availability of funding, and expects to negotiate a follow-on contract with the U.S. government to ensure the uninterrupted supply of this critical medical countermeasure to the SNS. Under the terms of the acquisition agreements, Emergent expects to purchase product from GSK to enable completion of deliveries to the SNS under the existing BARDA procurement contract.

16:21 EDT Mangrove Partners Master Fund reports 7.6% stake in Bonanza Creek

16:19 EDT JANA Partners liquidates stake in Whole Foods - JANA Partners, which disclosed that it took an 8.3% stake in Whole Foods in April urging it to address chronic underperformance for shareholders, change the board and senior management, optimize real estate and capital allocation strategies and pursue opportunities to improve performance, has liquidated its stake in the grocer and no longer holds any shares, according to a regulatory filing. JANA sold its shares in Whole Foods over the period of June 19 to July 18, the filing shows. Amazon (AMZN) announced on June 16 that it had agreed to acquire Whole Foods for $13.7B.

16:16 EDT Qualcomm sees Q4 QTL revenue $1B-$1.3B, down 31%-47% y/y

16:14 EDT Guaranty Bancorp to acquire Castle Rock Bank Holding - The company announces the signing of a definitive purchase agreement with Castle Rock Bank Holding Company, the holding company for Castle Rock Bank, in an all-stock transaction. Castle Rock Bank, a 43 year old community bank based in Castle Rock, Colorado, has $147.8 million in total assets as of June 30, 2017 and two bank branches strategically located between Denver and Colorado Springs, Colorado. The deal is subject to normal regulatory approvals and customary closing conditions and is expected to close in the first quarter of 2018. Following the close of the transaction, Castle Rock Bank will be merged into Guaranty Bank and Trust and all Castle Rock Bank branches will operate under the Guaranty Bank and Trust name. The Company expects the transaction to be $0.04 accretive to earnings per share in 2018 and have an internal rate of return in excess of 19%. Further information regarding the transaction can be found in the investor presentation filed as an exhibit to Guaranty Bancorp's Form 8-K filed on July 19, 2017.

16:14 EDT Qualcomm: 'Delivered better than expected results in our semiconductor business' - "We delivered better than expected results in our semiconductor business this quarter, which drove EPS above the midpoint of our expectations versus our April updated guidance," said Steve Mollenkopf, CEO of Qualcomm Incorporated. "Our products and technologies continue to enable the global smartphone industry, and we are expanding into many exciting new product categories, including automotive, mobile computing, networking and IoT. We believe that we hold the high ground with regard to the dispute with Apple, and we have initiated new actions to protect the well-established value of our technologies."

16:13 EDT Van Berkom & Associates reports 5.15% passive stake in Huron

16:12 EDT Alcoa narrows FY17 adjusted EBITDA view to $2.1B-$2.2B from $2.1B-$2.3B - For 2017, Alcoa continues to project relatively balanced global markets for bauxite and alumina with a modest surplus for aluminum. In global alumina, Alcoa now projects the market to range from being in balance to a slight deficit of 800 thousand metric tons in 2017, an improvement from the range of balanced to slight surplus expected in the first quarter of 2017. In global aluminum, the company maintains its expectation for a modest global surplus between 300 thousand to 700 thousand metric tons. Alcoa has increased its 2017 forecast for global aluminum demand growth to a range of 4.75 to 5.25 percent, up from 4.5 to 5 percent in the first quarter of 2017.

16:11 EDT People's United acquires LEAF Commercial Capital - People's United Bank, N.A. announced today that it has entered into an agreement to acquire LEAF Commercial Capital, Inc. Based in Philadelphia, PA, LEAF is one of the largest, independent commercial equipment finance companies in the U.S., with approximately $500 million of annual originations. Under the terms of the agreement, People's United will acquire approximately $730 million of net investment in leases and loans and retain approximately $250 million of securitizations. Remaining LEAF borrowings are expected to be repaid at close and the acquisition will be immediately accretive to People's United earnings. The transaction is expected to close during the third quarter of 2017.

16:10 EDT American Express reports Q2 adjusted Card Member spending up 8% - "There were many signposts of progress this quarter: adjusted revenue growth accelerated to 8%; adjusted Card Member spending was up 8% and spread across business units and geographies; healthy loan growth and credit quality; strong new card acquisition - particularly among affluent consumers in the U.S.; and continued progress on reducing operating expenses," said CEO Chenault. "The work is not complete, but we're now moving forward with a stronger foundation and a blueprint for growth in the years ahead."

16:09 EDT Qualcomm says returned $1.1B to shareholders in Q3 - "During the third quarter of fiscal 2017, we returned $1.1 billion to stockholders, including $844 million, or $0.57 per share, of cash dividends paid and $300 million through repurchases of 5.2 million shares of common stock. On July 13, 2017, we announced a cash dividend of $0.57 per share payable on September 20, 2017 to stockholders of record as of the close of business on August 30, 2017."

16:09 EDT Alimera Sciences allowed to reduce enrollment in Iluvien study - Alimera Sciences announced that the United Kingdom's Medicines and Healthcare Products Regulatory Agency has given final approval to reduce the size of its Iluvien Registry Safety Study. A post-marketing study, IRISS was originally designed to follow 800 Iluvien patients over five years. However, consistently positive real-world safety data from IRISS and other post-marketing studies led Alimera to seek a smaller sample size. Alimera enrolled the 550th patient in January of this year, making the anticipated last patient, last visit date January 2020.

16:09 EDT Kinder Morgan announces future dividend increases and share buyback program - Kinder Morgan announced that its board of directors approved a cash dividend of 12.5c per share for the quarter payable on August 15 to common shareholders of record as of the close of business on July 31. Additionally, as result of substantial balance sheet improvement achieved since the end of 2015, KMI is announcing multiple steps to return significant value to shareholders. First, KMI announced it expects to declare an annual dividend of 80c per share for 2018, a 60% increase from the expected 2017 dividend. The first 2018 increase is expected to be the Q1 2018 dividend. Additionally, the company plans to increase its dividend to $1.00 per share in 2019 and $1.25 per share in 2020, a growth rate of 25% annually. Finally, the board authorized a $2B share buyback program, which represents approximately 5M of KMI's current market capitalization. KMI expects to declare dividends of 50c per share for 2017 and use cash in excess of dividend payments to fully fund growth investments and further strengthen its balance sheet.

16:06 EDT Qualcomm reports Q3 MSM chip shipments 187M

16:05 EDT Qualcomm sees Q4 MSM chip shipments 205M-225M

16:02 EDT Aerie Pharmaceuticals reports 'positive' Roclatan Phase 3 safety results - Aerie Pharmaceuticals reported the successful 12-month safety results of the company's "Mercury 1" Phase 3 registration trial for its fixed-dose combination product candidate, Roclatan(TM). Mercury 1 is a 12-month safety and efficacy trial which included a 90-day efficacy endpoint. As previously reported, both Mercury 1 and Mercury 2, the company's second Phase 3 registration trial of Roclatan, achieved their 90-day primary efficacy endpoints of demonstrating statistical superiority over each of its components at all measured time points, including Aerie product candidate Rhopressa 0.02%, and market-leading prostaglandin analogue latanoprost, all of which were dosed once daily in the evening. "With these positive 12-month Mercury 1 data, we have again demonstrated the consistent and well-understood performance of Roclatan(TM) and Rhopressa(TM) from both a safety and efficacy perspective. Roclatan(TM) has the potential to become the most efficacious IOP-lowering therapy to enter the market, if approved, bolstered by an overall favorable safety and tolerability profile. We continue to expect to submit our Roclatan NDA in the first half of 2018," said Vicente Anido, Jr., Ph.D., Chairman and Chief Executive Officer at Aerie.

15:43 EDT Campbell Soup hires Shakeel Farooque to head e-commerce unit in North America - The company highlighted it's plans to accelerate the company's digital and e-commerce capabilities by forming an e-commerce unit in North America. Campbell has a goal of generating $300M in e-commerce sales over the next five years. Alexander said, "We're investing in digital and e-commerce across the enterprise with a goal of building industry-leading capabilities and relationships that will drive innovation in this space." To support these efforts, the company announced it has hired Shakeel Farooque as Vice President and Head of Digital and E-Commerce to lead the unit. Farooque's background is in retail, where he leveraged data to understand consumer behaviors and build omni-channel capabilities for Kohl's, eBay and Amazon, Inc. The company also outlined its plans to partner with leading e-commerce companies, such as the recently announced $10M investment and strategic partnership with online meal kit company Chef'd, and steps it is taking to create a more flexible distribution system to serve e-commerce channels.

15:37 EDT Bank of America notes issues with client access to online/mobile banking - Bank of America's verified news account on Twitter stated that "some clients may have been unable to access some of our online/mobile banking apps; however many clients are now operating normally." Reference Link

15:35 EDT Campbell Soup targets $300M in e-commerce sales over the next five years - Campbell's plans to accelerate the company's digital and e-commerce capabilities by forming an e-commerce unit in North America. Campbell has a goal of generating $300 million in e-commerce sales over the next five years.

15:14 EDT Laredo Petroleum up 12% to $12.40 after reopening for trading

15:09 EDT MasterCard expands choice in retail payments with more QR programs - MasterCard outlined plans for greater choice in retail payments through the planned expansion of its QR-based programs. Beginning this month, the company will broaden its solutions to offer QR codes that can be scanned by either consumers or merchants under a common set of global specifications. Mastercard has worked with EMVCo and other industry players to create a new global QR standard. These standards ensure consistency in QR codes both generated and captured on a consumer's mobile phone. "Today's news builds on the momentum of our QR work in India and Africa," said Ajay Bhalla, president of global enterprise risk and security, Mastercard. "We look forward to the adoption of the EMVCo global QR standards. In the meantime, we'll continue to work with our customers and partners to make every device a secure way to pay and be paid." The use of QR codes in certain markets complements the extensive investment in contactless payments to provide merchants of all sizes - from international chains to individual shop owners and street vendors - a fast, secure and inexpensive way to accept payments. Launched in 2016, Masterpass QR already provides people with any type of mobile phone the ability to safely make in-person purchases without a plastic card. A consumer scans a QR code displayed at the merchant's checkout on their smartphone or by entering a text code into their feature phone. The company's consumer-presented solution will allow the merchant to scan a QR code from a smartphone and process the payment through the Mastercard network. It will leverage M/Chip technology to provide a secure way to pay based on EMV infrastructure.

14:54 EDT Phillips 66 Partners increases quarterly distribution 5% to to 61.5c per unit - Phillips 66 Partners announces that the board of directors of its general partner declared a second-quarter cash distribution of 61.5c per common unit. This quarter's distribution represents an increase of 5% over the previous quarterly distribution of 58.6c per unit and a 22% increase over second-quarter 2016.

14:40 EDT Industrial suppliers fall after Grainger results, continued impact from Amazon - Shares of industrial supply stocks are falling after peer Grainger (GWW) reported financial results Wednesday morning. Second quarter results topped analyst expectations on the bottom line, with Q2 earnings per share of $2.74 besting expectations of $2.65. However, revenue for the quarter was a bit shy of analyst expectations. The company noted that the 7% point increase in volumes for Q2 revenue was offset by declines of 3% points in price, 1% point from foreign exchange and 1% point from the timing of the Easter holiday. Company operating earnings of $232M for Q2 declined 24% versus $306M in the 2016 quarter. With its quarterly earnings report, the company notified investors that CFO Ron Jadin will be retiring at year-end. The search for Jadin's replacement is underway. 2017 GUIDANCE: Grainger backed its previously issued FY17 outlook with EPS projected to be $10.00-$11.30 on revenue growth of 1%-4% with pricing being down 5-6 points. Grainger sees gross margin down "more significantly in the third and fourth quarter over the prior years," even more than it declined in the first half of the year, "so it's worsening, but we haven't given guidance on that per se." IMPACT OF RESTRUCTURING: CEO Donald MacPherson started the call by calling attention to the impact of restructuring that's going on in the company. "We began winding down the Colombia business in the quarter, which resulted in restructuring charges of $42M. This business has struggled with sustaining profitability, and we are moving quickly to ensure we have businesses with competitive advantage and strong returns in the portfolio," said MacPherson. Grainger is also "taking steps" to restructure its Canadian business. Speaking of its Canadian business the CEO said, "To be clear, we are in the midst of a substantial transformation in the business. This business has scale and should be quite profitable. We are still on track to exit 2017 in a breakeven runway." The company is moving from an unfavorable customer mix in its domestic business to a more favorable mix "over time," said MacPherson, adding that the company is in the midst of renegotiating large customer contracts. Sales in larger customers declining less dramatically but they are still down year-over-year. The company blames the lack of momentum in the quarter to U.S government sales, "in fact, government's 100% of the slowdown," said the CEO responding to an analyst's inquiry. "We saw state and local government holding funds. We saw federal government holding funds in many cases. There are rumors that, that is easing up, but we'll have to wait and see if that plays out. So it is been all government during the quarter." As far as pricing the company sees July "similar to what we've seen thus far this year." as for the rest of the year the company sees pricing to be down "roughly" 6%. AMAZON EFFECT: In an article from April 18, after Grainger's first quarter results, Bloomberg noted that the parts distributor is the latest victim of Amazon (AMZN). In 2012, Amazon launched AmazonSupply.com aimed at at business, scientific and commercial customers and offers products like abrasives & finishing, cutting tools, fasteners, fleet & vehicle maintenance, hydraulics, pneumatics and plumbing, janitorial & sanitation, lab and scientific, materials, occupational health and safety, office, power and hand tools for sale. Recently, another industrial parts distributor Fastenal (FAST) was mentioned as a possible Amazon acquisition target. On July 12, Baird analyst David Manthey said Fastenal is a likely target, because it owns the last mile. PRICE ACTION: Shares of Grainger are off its session low of $160.29, down 7%, to $162.24. OTHERS: Shares of other industrial suppliers are also lower including Fastenal, MSC Industrial Direct (MSM), and WESCO International (WCC).

14:40 EDT Scripps, Discover deal odds debated as reported talks boost media space - Shares of Scripps Networks (SNI) and Discovery Communications (DISCA) are on the rise following reports from both The Wall Street Journal and Reuters that the media companies are in talks to merge. While research firm Citi sees a deal as likely, Credit Suisse analyst Omar Sheikh believes the Journal's initial report has "low credibility." MERGER TALKS: Yesterday, The Wall Street Journal said that Discovery Communications is in discussions to merge with Scripps Networks. A similar report from Reuters added that Viacom (VIAB) also had held talks to buy Scripps. CREDIT SWISS QUESTIONS DEAL CHANCES: Commenting on the news, Credit Suisse's Sheikh told investors that he believes the Journal's report "looks vague," and his initial view is that it has "low credibility." Combining the two portfolios of unscripted cable networks has some industrial logic, but previously reported discussions between the companies probably came to nothing because the price and structure of a transaction could not be agreed upon, the analyst contended, adding that he struggles to see what might have changed now. Sheikh reiterated an Underperform rating and a $24 price target on Discovery's shares. BULLISH ON DEAL: Citi analyst Jason Bazinet, on the other hand, told investors that he views the reports as "credible" and finds it likely that Discovery and Scripps Networks reach an agreement. Furthermore, Bazinet argued that the pressures on the traditional cable network ecosystem are acute enough and valuations are low enough that he can see merits to this potential combination. Assuming a 20% premium is offered to Scripps, a deal would likely be about 10% accretive to Discovery, Bazinet noted, citing his M&A math. Meanwhile, JPMorgan analyst Alexia Quadrani said she sees both a strategic and financial rationale for a merger between Scripps Networks and Discovery Communications, pointing out that a combined company would have greater leverage with domestic distributors and advertisers. Discovery could also help Scripps with its international rollout, Quadrani contended, adding that there is potential for cost and tax synergies. However, she believes that with no terms mentioned in any of the press reports on the deal talks, it is difficult to evaluate any potential transaction. Further, the analyst noted that the speculation "may end up just being chatter" coming out of last week's media executive conference in Sun Valley. Nonetheless, Quadrani believes the press reports should have a "very positive influence" on media stocks, which she noted have been out of favor. The analyst expects to see particular outperformance from heavily shorted media names such as AMC Networks (AMCX). PRICE ACTION: In afternoon trading, shares of Scripps Networks have jumped almost 15% to $76.87, while Discovery Communications' stock has gained 4% to $27.09 and AMC Networks is up 4% to $59.25. Other media names, including 21st Century Fox (FOXA), Viacom and Disney (DIS), are also higher in afternoon trading.

13:41 EDT Sprint to add 300 jobs in Central and Northern Florida - Claudio Hidalgo, Sprint's region president for Florida, Puerto Rico and U.S. Virgin Islands, announced more than 300 jobs will be added in Orlando, Tampa-St. Petersburg, Jacksonville and Gainesville as a part of Sprint's national retail expansion strategy. The available jobs will include a combination of retail, business sales, marketing and operations. Most roles will staff the 18 stores Sprint plans to open in the Orlando metro area, 15 new stores in Tampa-St. Petersburg, and 3 stores in Jacksonville and Gainesville this year.

13:38 EDT Good Times Restaurants announces resignation of Jim Zielke as CFO - Good Times Restaurants announced the resignation of Jim Zielke as CFO and the hiring of Ryan Zink as its new CFO. Zielke's resignation as CFO will take effect on July 31, 2017; however, Zielke will continue as an employee of the company through August 31, 2017 to facilitate his successor's transition into the role. Zielke submitted his formal resignation as a result of an ownership opportunity in a privately held restaurant company. The company has had prior discussions with Zink, who worked extensively with Zielke while at F&H Acquisition Corp, and they will have approximately one month of working together for a transition prior to Zielke's departure. Prior to his appointment as CFO, Zink was the Corporate Finance Director and Reporting Leader, and previously Operations Controller for INVISTA.

13:04 EDT Campbell Soup says expanding digital capabilities for late stage differentiation - Says expanding digital capabilities for late stage differentiation. Says has returned $3B to shareholders over the past five years.

12:56 EDT Campbell Soup CFO: Company making 'good progress' on gross margin expansion - Sees additional opportunities in supply chain, operating model, and acquisition synergies. Says making "good progress" on making gross margin expansion.

12:45 EDT Campbell Soup sees broadening snacks unit with focus on Mindful Kids Snacking - Says expects to broaden snacks business to include healthier snacks and with a focus on Mindful Kids Snacking. Sees adding $200M in sales across three divisions over the next five years. Says food companies that cannot envision roles in health and well being will not fare well.

12:37 EDT Campbell Soup says nearly $1B of annual net sales from fresh products - Says undertaking "thoughtful" examination of portfolio from real food perspective, will remove any product not consistent with company's real food philosophy. Says nearly $1B of annual net sales from fresh products. Says organic portfolio in Top 10 in the industry. Says Pacific Foods acquisition consistent with health and well being goal.

12:34 EDT Campbell Soup says investing $50M in real food in core business - Says decided to withdraw from the Grocery Manufacturers Association by the end of the 2017 calendar year, says not a business decision. Says increasing transparency on food products through online portals. Says investing $50M in real food in core business.

12:25 EDT Campbell CEO: Goal to be leading health and well-being company - Campbell Soup president and CEO Denise Morrison says companies and brands must differentiate themselves in "harsh" food products environment in order to survive. Says "real and healthier food" better for consumers and business. Says goal is to be the leading health and well-being company. Says real food has become "non-negotiable" demand from consumers. Comments taken from Campbell Soup's Investor Day.

12:11 EDT Empery Asset Management reports 9.99% passive stake in ImmunoCellular

12:06 EDT Morningstar reports June U.S. mutual fund, ETF asset flows - Morningstar reported estimated U.S. mutual fund and exchange-traded fund asset flows for June 2017. In June, investors put $9.3B into U.S. equity passive funds, down from $13.1B in May 2017. On the active front, investors pulled $14.6B out of U.S. equity funds, compared with $16.2B in the previous month. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.

11:38 EDT IBM opens four new IBM Cloud data centers in London, San Jose, Sydney - IBM announced that four new IBM Cloud data centers are now open, including two in London, England; one in San Jose, California; and one in Sydney, Australia. The four new facilities bring IBM's global cloud data center footprint to nearly 60 across 19 countries and bolster its existing cloud footprint in these regions. IBM is investing to expand its cloud footprint so clients around the world can take advantage of a cloud that is tuned for cognitive and big data workloads while offering flexibility to store data however and wherever they choose. Additionally, IBM is continuing to invest in growing its cloud data center presence to provide businesses with access to cloud infrastructure that is cognitive at the core and designed to be data-first. The additional facilities in London, Sydney and San Jose will help enterprises take advantage of more than 150 APIs and services to deploy next generation applications, ranging from cognitive and blockchain to big data and IoT. Clients such as Bitly and Halliburton are already benefiting from IBM's global network of cloud data centers.

11:20 EDT United says wants to strengthen credit card agreement with Chase

11:17 EDT United says hopes to have news on potential Avianca partnership soon - Says not planning to make changes to order book that would impact 2018 CapEx before the end of the year. Commenting on the possibility of transatlantic 737 Max flying, United says "it's something we're going to look at for the medium- and long-term." Says may order 737 Max 8s "one day." Says will take delivery of 12 new 737 Max 9 models in 2019. Says flexible flying program pilot likely to launch in next few weeks. Says hopes to have news on potential Avianca partnership soon.

11:10 EDT Hill Int'l selected by GSA as construction manager for Harrisburg courthouse - Hill International said that it has received a contract from the U.S. General Services Administration, Mid-Atlantic Region in Philadelphia, PA to provide construction management services during the construction of a new U.S. Courthouse in Harrisburg, Pennsylvania. The five-year contract has an estimated value to Hill of approximately $6M.

10:55 EDT Vertex jumps after 'wowing' analysts with cystic fibrosis data - Shares of Vertex (VRTX) are on the rise after the company reported positive data from Phase 1 and Phase 2 studies of three different triple combination regimens in people with cystic fibrosis who have one F508del mutation and one minimal function mutation. Reacting to the news, several Wall Street analysts upgraded the stock to buy-equivalent ratings and raised their price targets on the shares. BUY VERTEX: In a research note to investors this morning, Janney Capital analyst Debjit Chattopadhyay upgraded Vertex to Buy, stating that the Phase 2 data for its three triple combination programs in CF were "significantly above the most optimistic expectations." The analyst argued that the quality of the data should allow Vertex to potentially accelerate commercialization under the "New FDA" and importantly sets the bar very high for competition. Citing its "potential dominance of CF," Chattopadhyay said he thinks Vertex becomes the "most logical large-cap M&A target." Chattopadhyay was not the only analyst upgrading the stock this morning. His peer at Cowen also upgraded Vertex to Outperform, saying efficacy data from its triple regimens showed "breakthrough-quality" results, and will very likely "dramatically" improve the quality of life and extend the life span of 80% of the 75K patients with CF worldwide. Phil Nadeau pointed out that he expects a launch in 2021 and $10B in franchise sales in 2025. The analyst raised his price target on the shares to $200 as he sees a 10-year path of revenue growth for Vertex. Meanwhile, Barclays analyst Geoff Meacham told investors that he thought the Phase 2 data in CF was an "unequivocal success and constitutes a major de-risking event." Citing more confidence in the viability of the triple combo and the likely accelerated development path, the analyst upgraded Vertex to Overweight and raised his price target on the stock to $180. Also this morning, Raymond James analyst Laura Chico upgraded Vertex to Outperform, with a $181 price target, citing the "compelling" efficacy data for its triple-combo CF regimens. WOW: JPMorgan analyst Cory Kasimov began his research note with "Wow. Just wow," following last night's data release from Vertex. To say that the initial results for Vertex's triple combinations beat expectations would be an understatement, Kasimov told investors, adding that the data not only sets up well to reach a large majority of the CF patient population, but also greatly increases the competitive hurdle while also enhancing the scarcity value of the company. He raised his price target on the shares to $175 and reiterated an Overweight rating on the name. Credit Suisse, Stifel, Citi and Piper Jaffray also raised their price targets on the stock following the data release. OTHERS TO WATCH: Competitor Galapagos (GLPG) is sliding in morning trading following Vertex's CF data announcement. However, commenting on the news, H.C. Wainwright analyst Andrew Fein said the data may also be "encouraging" in a roundabout way for Galapagos and another smaller company exploring an add-on to a CF doublet combo, Proteostasis (PTI). If increasing the dosing of the Vertex compounds does not differentiate them further in efficacy, then this consistency in benefit "may truly be a class phenomenon," and similar results should be expected from any competitor add-on agent out there, he suggested. PRICE ACTION: In morning trading, shares of Vertex have gained about 22% to $161.26, while Galapagos and Proteostasis have dropped over 4% and 3%, respectively.

10:49 EDT United says not providing further updates today on Airbus A350 order

10:43 EDT Axiom says buy First Solar as U.S. industry boosted by possible trade action - The shares of a number of solar companies are rising after research firm Axiom wrote that the sector is benefiting from increased U.S. demand ahead of a price floor that could be imposed by the U.S. towards the end of the year. Axiom upgraded its rating on First Solar (FSLR) to Buy from Hold and raised its rating on Chinese solar company JA Solar (JASO) to Hold from Sell. THESIS: Bankrupt solar company Suniva has petitioned the U.S. government to impose a minimum price of 78c per watt on all imported solar panels sold in the U.S., versus last quarter's price of 35c per watt, noted Axiom analyst Gordon Johnson II. President Trump is expected to decide the issue at the end of this year, although his decision could be delayed until January 2018, Johnson stated. In anticipation of the possible price increase and shipment delays that the price floor could cause, solar power project builders are buying large amounts of solar modules now, according to Johnson. As a result, module producers' Q2 results will probably beat expectations and their Q3 results could surpass expectations by a "material amount," he stated. Although Johnson has a "positive near-term bias" toward solar companies, he kept a Market Underweight rating on the sector. FIRST SOLAR: Johnson increased his 2017 shipment estimate for the company to 2.7 GW from 2.2 GW and raised his 2018 shipment estimate for the company to 3.1 GW from 2.9 GW. He noted that the company would be exempt from the price floor. Citing increases in the company's average sales prices, he raised his 2017 EPS estimate to $1.21 from 31c. Analysts' consensus estimate is 56c. Johnson raised his 2018 EPS estimate for the company to 80c from 55c. Analysts' consensus estimate is 69c. He increased his price target on the shares to $51 from $43. JA SOLAR: The company's Q3 EPS will come in at 21c, versus the consensus estimate of a (6c) per share loss, Johnson predicted. Johnson estimated that the company's module business is worth $7 per share and increased his price target on the name to $7 from $3, but added that the standing $9.69 per share take private offer from its CEO caps the stock's upside. CANADIAN SOLAR: The China-based company will benefit from selling solar assets at a profit as well as from temporarily higher module prices, wrote Johnson, who kept an $18 price target and a Buy rating on the shares. JINKOSOLAR: The company's Q2 EPS and Q3 EPS will beat expectations by a significant amount, driven by higher U.S. module prices, Johnson believes. The analyst, who says that the company's module business is worth $28 per share, keeps a Hold rating on Jinko shares. LOSE/LOSE FOR CHINESE COMPANIES: Johnson believes that Chinese solar companies will face a lose/lose scenario after Trump decides the price floor issue. If the floor is approved, demand for Chinese modules in the U.S. will drop significantly, causing global prices to decline, he stated. If it's not approved, demand will return to normal levels, causing prices here to drop significantly, Johnson believes. PRICE ACTION: In morning trading, First Solar climbed 4.5%, JA Solar rose 3%, Canadian Solar gained 3% and JinkoSolar surged 8%.

10:41 EDT ADTRAN Q2 international revenue up 31% YoY

10:31 EDT G. Willi-Food says Pavel Buber 'released' from position as CFO - G. Willi-Food International announced that Pavel Buber has been released from his position as CFO. Yitschak Barabi, the former controller has been appointed as interim CFO.

10:18 EDT EXCO Resources halted for volatility after jumping 56c to $2.18

10:08 EDT Philip Morris general counsel testifies at U.S. commission hearing - Marc Firestone, Senior Vice President and General Counsel of Philip Morris International, appeared as an invited witness before the Commission on Security and Cooperation to offer expert testimony in support of the Commission's objective of addressing the security and economic threats posed by the illicit trade in tobacco. The hearing was held on Capitol Hill in Washington, D.C. "PMI has a clear business imperative to combat the problem of the illegal tobacco trade and ensure our products are legally sold in the market for which they are intended," Firestone stated. He highlighted that the global illicit tobacco trade annually deprives governments of 40-50 billion USD in lost tax revenue, a figure greater than that of the illicit trade in oil, wildlife, timber, arts and antiquities, and conflict minerals combined. Mr. Firestone noted that "criminals are the only promoters of the global illegal tobacco trade." "The revenues that governments and law abiding manufacturers like PMI lose every year to the illicit trade in tobacco are huge," Firestone told Commission members. "However, the threat posed to safety, security, and the rule of law in Europe, the United States and around the globe is where the interests of our company and the concerns of this Commission most pointedly intersect."

10:03 EDT Carrier says approx. 300 employees to leave this week as part of prior plan - Carrier continues to honor its 2016 commitment to employ approximately 1,100 associates in Indianapolis. As announced in November, this includes headquarters and engineering jobs and more than 800 employees supporting our world-class gas furnace manufacturing center. This week, approximately 300 employees will leave Carrier as part of the previously announced plan to relocate fan coil manufacturing production lines. These team members include more than 30 associates who have chosen to take advantage of the company's Employee Scholar Program and pursue degree programs. In addition to reimbursing four-year education costs, Carrier will also reimburse technical training costs for those who prefer to pursue a vocational technical certification program. All team members will also receive a one-time payment, severance pay and six months of medical insurance continuation beyond separation. As previously announced, in total, this transition will impact approximately 600 Indianapolis jobs over the next several months. The impacted employees will have an opportunity for employment across UTC's manufacturing operations. United Technologies, parent company to Carrier, announced in June that over the next three years it expects to hire nearly 25,000 people in the U.S., of which more than 5,000 new positions will be created in support of the company's innovative new products.

10:01 EDT Lockheed Martin awarded $37.7M contract from U.S. Air Force - Lockheed Martin received an Undefinitized Contracting Action for $37.7M from the U.S. Air Force for continued development of a new wing design for the Joint Air-to-Surface Standoff Missile - Extended Range. The new wing design will add greater range to the cruise missile, which currently has a range of more than 500 nautical miles. Analysis on an enhanced wing design began in March 2016.

10:00 EDT Newmont Mining raises dividend to 7.5c from 5c per share - Newmont Mining announced earlier that its board declared a quarterly dividend of 7.5c per share of common stock, payable on September 28 to holders of record at the close of business on September 14. The dividend of 7.5c per share is triple the dividend paid in the prior year quarter and up from the 5c paid to stockholders in June of this year.

09:34 EDT U.S. Bancorp sees positive operating leverage in Q3, Q4

09:33 EDT Immune Pharmaceuticals continuing plan to spin off Cytovia

09:29 EDT Nutanix CEO tells VMware executive to 'shut up and behave' - In reply to a now-deleted tweet that appeared to compare Nutanix (NTNX) to Enron sent by Lee Caswell, the VP of Products, Storage & Availability at VMware (VMW), Nutanix CEO Dheeraj Pandey tweeted late on July 14: "Hey Lee, shut up and behave. Don't denigrate your office at @VMware like this. At @Nutanix, we've been patient with your trolling tweets." Reference Link

09:23 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Morgan Stanley (MS), up 3.9%... M&T Bank (MTB), up 2%... Exponent (EXPO), up 11.9%... Grainger (GWW), up 2%... ADTRAN (ADTN), up 5.4%... Textron (TXT), up 1.8%... ASML (ASML), up 3.7%. ALSO HIGHER: Vertex (VRTX), up 26.1% after it reported "positive" data from Phase 1 and Phase 2 studies of three different triple combination regimens in people with cystic fibrosis who have one F508del mutation and one minimal function mutation... Scripps Networks (SNI), up 15.3% after the Wall Street Journal reported that Discovery Communications (DISCA) is in discussions to merge with the company... Discovery Communications is up 6.5%. DOWN AFTER EARNINGS: CSX (CSX), down 2.5%... United Continental (UAL), down 4.4%... IBM (IBM), down 2.5%... Crown Castle (CCI), down 2% after reporting quarterly results, announcing it will acquire Lightower for $7.1B in cash, and filing to sell $3.25B in stock and $1.5B in convertible preferred stock. ALSO LOWER: McCormick (MKC), down 5.2% after announcing it will acquire RB Foods from Reckitt Benckiser (RBGLY) for $4.2B.

09:21 EDT U.S. Bancorp says would look at bolt on acquisitions in merchant acquiring

09:15 EDT Morgan Stanley CFO says potential for disruption from Mifid 'pretty high' - Morgan Stanley CFO Jon Pruzan said the potential for near-term disruption from the upcoming EU law known as "Mifid II" is "pretty high," but its too early to make a call on the real impact of the regulations.

09:12 EDT Fred's Pharmacy appoints Jason Jenne as CFO - Fred's announced the appointment of Jason Jenne as EVP and CFO. Jenne succeeds Rick Hans, who is stepping down from the company to pursue other opportunities. Hans will remain in an advisory capacity until August 18 and will work closely with Jenne to ensure a smooth transition. These changes are effective as of today. Jenne joined Fred's Pharmacy in September 2016 as SVP, finance. In addition to leading financial and risk management across the company, Jenne will be responsible for ensuring that the finance organization enables Fred's Pharmacy to successfully execute its healthcare transformation and capitalize on the significant market opportunities ahead. These responsibilities include oversight of cash flow, SG&A management and capital allocation strategy.

09:05 EDT NYSE says leads global IPO listings for 1H17 - The New York Stock Exchange said it hosted the majority of initial public offerings conducted in the first half of 2017 with 49 new listings, raising over $19.3 billion in capital, representing 88 percent of all proceeds raised in the U.S. In the first six months of 2017, the market for IPOs rebounded from 2016, which was impacted by global equity market volatility.

09:04 EDT Chipotle, RZA launch Savor.wavs digital experience - Chipotle Mexican Grill said it has collaborated with RZA, multi-platinum hip-hop legend and creator and producer of the Wu-Tang Clan, to create SAVOR.WAVS, a digital experience that reinterprets each ingredient in Chipotle's food as music and responsive visuals.

09:01 EDT CSG Systems extending relationship with Charter through December 31, 2021 - CSG Systems International (CSGS) announced that it will expand and extend its agreement with Charter Communications (CHTR) through December 31, 2021. CSG's contract extension with Charter streamlines all existing billing and customer care contracts with Time Warner and Bright House into a single Charter contract. Under the new contract, CSG will continue to provide a comprehensive set of customer care and billing solutions. In addition, Charter will deploy CSG Workforce Express for field service management, scheduling, dispatch, automation and mobile technician support.

08:57 EDT CSX says has 40% of positive train control miles in service - Says stored locomotives should rise to more than 1,000. Says hump yards to be reduced to around three. Says biggest challenge is cultural change.

08:49 EDT Greene County Bancorp raises annual dividend to 39c per share from 38c per share - Greene County Bancorp announced that its board has approved a quarterly cash dividend of 9.75c per share on the company's common stock. The dividend reflects an annual cash dividend rate of 39c per share which represents a 2.6% increase from the previous annual cash dividend rate of 38c per share. The cash dividend for the quarter ended June 30, will be paid to shareholders of record as of August 15, and is expected to be paid on or about August 31.

08:47 EDT L3's MX-15 EO/IR system selected by Airbus Helicopters for foreign militaries - L3 Technologies (LLL) announced that its WESCAM division has received an order from Airbus Helicopters (EADSY) to provide 37 MX-15 electro-optical and infrared imaging systems for installation on multiple fleets of H225M Caracal helicopters. The systems will be installed in France before being delivered to two foreign governments for military deployment. The first delivery of 19 units will support a variety of missions, including search and rescue, aeromedical evacuation and assistance, and disaster relief. The second delivery will provide a highly detailed, multispectral view of combat search and rescue, naval operations, medical evacuation and military transportation efforts to mission operators.

08:45 EDT Morgan Stanley CFO 'remains comfortable' with full-year NII guidance

08:44 EDT CSX says has idled 26,000 rail cars, 900 locomotives - Says expects to ship 30M tons of export coal in 2017. Says crude oil trains have dropped to zero. Comments from Q2 earnings conference call.

08:40 EDT JMU partners with Nippon ACCESS and TANSH in China - JMU's consolidated affiliated entity in China, Shanghai Zhongmin Supply Chain Management Co., Nippon ACCESS and TANSH Global Food Group have reached a three-way partnership agreement on the strategic development of China's food and beverage market and had signed a Letter of Intent on Business Cooperation. Under this collaboration, the company will continue its strategy to build the food catering and hotel B2B2C supply chain platform, and will fully cooperate with ACCESS and TANSH to develop international trade, research and development of food materials and food products, as well as overall supply chain cooperation. Specific cooperation includes food materials and food products international trade cooperation and holistic store supply chain collaboration in foodservice and hotel industry.

08:39 EDT Morgan Stanley CEO calls out 'three tailwinds' - Morgan Stanley Chairman and CEO James Gorman, speaking on the company's Q2 earnings call, said that "with the firm now on solid footing, performance could still materially improve in the years ahead," adding that he sees three tailwinds, "each of which has the potential to impact our long-term performance in a material and positive way," worth calling out. On capital, Gorman said that while Morgan Stanley intends to invest in its business, it is determined to use any excess capital to continue to reduce its share count. On tax reform, Gorman said "U.S. corporate taxes are too high" and that a "sensible realignment of tax rates with other major developed economies" would be a "clear positive for our business and corporate America in general." On interest rates, he said each movement in rates, assuming a measured path, should benefit Morgan Stanley's business.

08:31 EDT Conduent awarded patent for facial expression recognition technology - Conduent has been awarded a U.S. patent for technology that automatically recognizes facial expressions using images from low resolution cameras. Since becoming an independent public company on December 31, 2016, the company has been awarded more than 20 patents, with several related to computer vision technology. The patent, along with the others awarded this year, adds to Conduent's portfolio of more than 300 U.S. Patents and approximately 400 pending U.S. Patent Applications.

08:31 EDT AstroNova's TrojanLabel unit forms distribution alliance with Nilpeter - AstroNova announced that its TrojanLabel ApS business unit and Nilpeter A/S have established an international distribution agreement for the Trojan2 mini digital label press. Under the agreement, the Trojan2 will be marketed and distributed through Nilpeter's subsidiaries in the United States, Brazil, the Asia-Pacific, the United Kingdom and Ireland.

08:19 EDT Long Island Iced Tea announces distribution partnership for Pacific Islands - Long Island Iced Tea announced a new partnership to distribute its beverages in New Zealand, Polynesia, Micronesia and Melanesia1 through Stellare New Zealand Limited, part of the Stellare Group. New Zealand has an estimated population of 4.5 million people and has a NARTD tea market that has grown at a 3.5% CAGR from 2011 to 2016, and projected to reach $7.4M by 2021.3 Long Island Iced Tea Corp. has been the registered owner of the 'Long Island Brand' trademark in New Zealand since December 12, 2014.

08:17 EDT CSX says Q3 volume outlook 'favorable' - Says key indicators support growth in most markets: U.S. export coal demand remains strong; Consumer sentiment at high levels; Infrastructure project growth continues; Expects truck market fundamentals to gradually improve. Says specific headwinds will impact a few markets: Auto production declining; Crude economics remain challenged; Short-haul domestic coal loss continues. Comments from presentation slides.

08:15 EDT Caladrius announces 50% of subjects have been treated in CLBS03 Phase 2 trial - Caladrius Biosciences announces that 50% of subjects have been treated in The Sanford Project: T-Rex Study, a prospective, randomized, placebo-controlled, double-blind Phase 2 clinical trial to evaluate the safety and efficacy of the Company's CLBS03 as a treatment for recent-onset type 1 diabetes. A pre-specified interim analysis of early therapeutic effect will occur after the six-month post-treatment follow-up visit, with results expected to be announced in late 2017 or early 2018. This complete study will enroll a total of approximately 111 subjects age 8 to 17.

08:14 EDT GlaxoSmithKline says to cut approx. 320 permanent jobs over four years - Overall, GSK employs a total of around 17000 people across the UK of which 5000 are in UK manufacturing operations. The proposals announced today for Worthing and Slough will result in a reduction of approximately 320 permanent jobs over the next 4 years.

08:13 EDT Athenex intiates patient enrollment for Oraxol plus ramucirumab Phase 1b trial - Athenex announced that its global Phase 1b clinical trial of Oraxol plus ramucirumab in gastric cancer has commenced with first patient dosed recently.

08:13 EDT GlaxoSmithKline to undertake review of cephalosporins antibiotics business - In pharmaceuticals, the company is to undertake a strategic review of its cephalosporins antibiotics business, with an option to sell the business including the associated manufacturing facilities. These medicines are produced at GSK sites in Ulverston, Cumbria, Verona in Italy and part of its Barnard Castle site. The Company has also decided to outsource some manufacturing activity at its Worthing site in the UK. GSK will continue to manufacture other antibiotics such as Augmentin and will continue to conduct research on new antibiotics. The company has also decided not to proceed with a previously planned investment to build a biopharmaceutical facility in Ulverston as it no longer needs the additional capacity.

08:12 EDT iKang Healthcare, China Industrial Asset Management to form investment funds - iKang Healthcare announced that it will cooperate with China Industrial Asset Management, an asset management company with total RMB 185B funds under its management, which is under China Industrial Bank, to form certain healthcare investment funds to invest in medical centers. The aggregate size of the healthcare investment funds will not exceed RMB 502M. An affiliate of Mr. Lee Ligang Zhang, iKang's Chairman and CEO, and an affiliate of China Industrial Asset Management will act as general partners and each contribute RMB 1M to the investment funds. iKang and China Industrial Asset Management will each contribute up to RMB 50M to the investment funds as limited partners. The investment funds will admit other limited partners which will contribute up to RMB 400M.

08:09 EDT NAPCO Security sees Q4 revenue $25.4M, consensus $24.93M

08:07 EDT Axovant Sciences' intepirdine shows potential neuroprotective properties - Axovant Sciences announced new data from a preclinical study which suggests that intepirdine may have neuroprotective properties against vascular injury and neuronal metabolic dysfunction. These results were presented at the 2017 Alzheimer's Association International Conference being held in London July 16 - 20. In the animal model used in this study, intepirdine demonstrated neuroprotective effects under hypoxic and hypoglycemic conditions in an in vitro assay of mixed cortical neuron cultures at clinically relevant concentrations. Specifically, when pre-treated with intepirdine for 24 hours, a decrease in lactate dehydrogenase release, a surrogate marker of cell death, was observed in MCN cultures exposed to oxygen and glucose deprivation. Intepirdine is a 5HT6 receptor antagonist in development for the potential treatment of mild to moderate Alzheimer's disease and Lewy body dementia. Axovant is evaluating intepirdine in MINDSET, a global Phase 3 study in subjects with mild to moderate Alzheimer's disease who are on stable background donepezil therapy, and expects to report topline results from this study in late September.

08:06 EDT Magal Security awarded $9.8M in contracts - Magal Security Systems announced that it has recently received a total of $9.8M in orders to provide integrated security solutions and maintenance for three major seaports in the EMEA region. One of the orders is for the Port of Huelva in Spain, the largest in the Spanish Seaport System, involving intrusion detection smart fences and advanced CCTV cameras

08:04 EDT Heineken Americas and U.S. Beverage partnering for import of specialty brands - Heineken Americas Export, appointed U.S. Beverage as the U.S. importer of certain specialty Heineken brands which may include brands from Europe, Latin America, South America, and S.E. Asia. The transition will begin immediately.

08:01 EDT Arcadia Biosciences says FDA accepts EFSE for WUE trait - Arcadia Biosciences announced that the U.S. FDA has accepted an Early Food Safety Evaluation for the company's water use efficiency trait. The EFSE is now applicable to all plant species that feature this trait. The EFSE concluded that the functional protein for the WUE trait, isopentenyl transferase, is safe for humans and animals and would not raise food safety concerns if present in the food supply. This approval is an assurance of safety for WUE crops currently under development and being tested in the field and will expedite the regulatory approvals for this trait. Greenhouse and field trials of the WUE trait have been completed in agronomic crops such as rice, wheat, cotton, peanuts and alfalfa, and Arcadia is currently working with collaborators in rice, potato, sugarcane, cotton and multiple tree species. The African Agricultural Technology Foundation supported the EFSE study through funds from USAID's "Feed the Future" initiative. The data provided in support of the EFSE are consistent with international regulatory requirements for genetically modified crops and will provide Arcadia and its global partners with the basis for future regulatory submittals. Arcadia's WUE trait technology was jointly discovered by researchers at the University of California, Davis and Technion-Israel Institute of Technology. Arcadia holds an exclusive, global license to the technology, with sublicense rights, for use in all crops.

07:53 EDT Nevsun Resources reports final high grade drill results at Timok Upper Zone - Nevsun Resources reported final assay results from the recently completed infill drilling of the Upper Zone at the company's Timok copper-gold project in Serbia. Drilling confirms continuity and the high-grade nature of the Upper Zone New massive and semi-massive sulphide intersections include: 16.94% Cu and 6.97g/t Au over 25.5m, within 4.46% Cu and 2.38g/t Au over 280.0m; 15.86% Cu and 7.69g/t Au over 27.0m, within 5.18% Cu and 2.28g/t Au over 274.5m; 20.57% Cu and 9.17g/t Au over 49.5m, within 6.77% Cu and 3.67g/t Au over 265.5m; 15.63% Cu and 12.28g/t Au over 19.5m, within 5.37% Cu and 4.94g/t Au over 177.0m. Exploration drilling for additional Upper Zone type deposits is underway. Nevsun CEO Peter Kukielski commented, "The high-grade assays reported today are the final holes from the infill drill program for the Timok Upper Zone. This drilling is enabling development of improved geological and geotechnical models and we expect an upgrade to a high percentage of the resources".

07:39 EDT Ivanhoe Mines names financial institutions to arrange Platreef PGMs financing - Robert Friedland, Executive Chairman of Ivanhoe Mines, and Lars-Eric Johansson, President and CEO, announced that the company has appointed another two mine-financing institutions - KfW IPEX-Bank, a German government owned institution, and the Swedish Export Credit Corporation - as Initial Mandated Lead Arrangers to arrange debt financing for the ongoing development of the company's Platreef platinum-group metals, nickel, copper and gold mine in South Africa. KfW IPEX-Bank and SEK join the initial three IMLAs - Export Development Canada, Nedbank Limited and Societe Generale Corporate & Investment Banking - that were appointed earlier this year. The IMLAs will make best efforts to arrange a total debt financing of up to US$1 billion for the development of Platreef's first-phase, four-million-tonne-per-annum (Mtpa) mine, with preliminary expressions of interest now received for approximately $900M of the targeted $1B financing. The financing will be contingent upon a successful due diligence process including benchmarking the project against the International Financial Corporation's Environmental and Social Performance Standards. Negotiation of a term sheet is ongoing between Ivanhoe's finance team and the IMLAs and discussions were held during the week of July 3rd in Johannesburg, South Africa, and attended by all five IMLAs. This was followed by a site visit to the Platreef Project.

07:35 EDT Northern Trust reports Q2 return on average common equity 11.6% - "Our second quarter results continued to demonstrate our ability to drive strong growth within both our wealth management and institutional businesses. Trust, investment and other servicing fees and net interest income grew 9% and 14%, respectively, compared to the prior year. The growth in fees was driven by strong growth in client assets, as assets under custody/administration and assets under management ended the quarter up 15% and 14%, respectively, compared to a year ago. We remain committed to driving efficiencies in our cost base for the long term, while continuing to invest in people, technology, and regulatory initiatives to support our growing businesses," said Frederick H. Waddell, Chairman and CEO.

07:33 EDT Hilton urges stockholders to reject TRC Capital's mini-tender offer - Hilton Worldwide Holdings received notice on July 18 of an unsolicited mini-tender offer being conducted by TRC Capital Corporation to purchase up to 2,000,000 shares, or approximately 0.61%, of Hilton's common stock outstanding as of July 17 at a cash price of $59.75 per share. The offering price is approximately 4.4% below the $62.49 closing price per share of Hilton's common stock on July 18. Hilton does not endorse TRC Capital's offer and recommends that stockholders reject the offer because the offer price is below the current market price for Hilton's shares. Hilton urges investors to obtain current market quotations for their shares, consult with their broker or financial advisor and exercise caution with respect to TRC Capital's offer. Hilton recommends that stockholders who have not responded to TRC Capital's offer take no action. Stockholders who have already tendered shares to TRC Capital may be permitted to withdraw those shares in accordance with the mini-tender offering documentation before the expiration of the offer, which is currently scheduled for 12:01 a.m., Eastern Time on Tuesday, August 15. TRC Capital may extend the offering period at its discretion. Hilton is not associated with TRC Capital, its mini-tender offer or any of its mini-tender offer documentation.

07:31 EDT xG Technology's Vislink business receives $1.5M order - xG Technology announced that its Vislink business has received an order valued at approximately $1.5M for microwave communications equipment from a leading medical device manufacturer. The Vislink communications equipment included in the order will form an integral part of an advanced medical device application.

07:19 EDT Winmark commences self-tender offer to purchase up to 400,000 shares - Winmark announced the commencement of a self-tender offer to purchase up to 400,000 shares, or approximately 9.5% of its outstanding common stock, for a price of $124.48 per share. The company intends to finance the tender offer with its existing revolving credit facility as well as an additional term loan. The tender offer will expire at 12:00 Midnight, Eastern Time, on August 16, 2017, unless extended or withdrawn. The Board of Directors determined that it is in the Company's and shareholders' best interest to repurchase shares at this time given the company's financial performance, its access to attractive debt capital, the relatively illiquid trading market for the company's common stock and desire by its largest shareholder to obtain liquidity for a portion of his holdings for estate planning purposes. Winmark has retained Wells Fargo Bank, N.A. as the Depositary for the tender offer and D.F. King & Co., Inc., as the Information Agent.

07:14 EDT Aethlon Medical; USPTO grants '333 Patent - Aethlon Medical announced that the United States Patent and Trademark Office has granted U.S. Patent Number 9,707,333 (the '333 Patent), entitled "EXTRACORPOREAL REMOVAL OF MICROVESICULAR PARTICLES." The '333 Patent covers methods of capturing exosomes that include an MHC-I or MHC-II antigen, whereby a patient suspected of receiving a benefit from exosome capture and removal is selected, and the whole blood, plasma, or serum from the patient is contacted with a substrate that includes antibodies specific for an MHC-I or MHC-II antigen. The '333 Patent also covers methods of capturing and removing MHC-I or MHC-II antigen associated exosomes from whole blood, plasma, or serum of a patient, and returning the whole blood, plasma, or serum to the patient with substantially fewer MHC-I or MHC-II antigen associated exosomes. MHC-I and MHC-II antigen associated exosomes contribute to the progression of numerous disease conditions, including cancer, autoimmune disorders and neurodegenerative diseases. The '333 Patent is a continuation of U.S. Patent Number 9,364,601, which covers methods of lectin-based capture of exosomes from a patient, and U.S. Patent Number 8,288,172, which protects the use of the Aethlon Hemopurifier in a method to remove immunosuppressive exosomes from blood. Together, these patents solidify Aethlon's position as a leader in pioneering diagnostic and therapeutic strategies in the field of exosome biology.

07:06 EDT Morgan Stanley CEO says Q2 results 'resilient' in 'subdued trading environment' - James Gorman, Chairman and CEO, said, "Our second quarter results demonstrated the resilience of our franchise in a subdued trading environment. Our wealth management business produced a 25% margin and our strong investment banking results attest to the diversity of our global business. We continue to deliver on our strategic goals and grow shareholder returns."

07:03 EDT Harte-Hanks announces agreement with Sidus Investment Management - Harte Hanks announced that it has reached an agreement with Sidus Investment Management, LLC, which owns approximately 2.5% of the company's outstanding shares, under which Harte Hanks will appoint Alfred V. Tobia, Jr. and Melvin Keating to its board, effective immediately. As part of the agreement, Harte Hanks has accepted the resignation of current director, Stephen Carley, and the board will increase from seven to eight members. In connection with the appointments, Harte Hanks and Sidus Investment Management have entered into a cooperation agreement. Under the terms of the agreement, Sidus Investment Management has agreed to certain standstill and voting commitments. A copy of the cooperation agreement will be filed with the SEC as an exhibit to a Current Report on Form 8-K to be filed by Harte Hanks.

07:02 EDT Avangrid affirms FY17 outlook

07:02 EDT Morgan Stanley reports book value $38.22 as of June 30 - At June 30, book value and tangible book value per common share were $38.22 and $33.24,15 respectively, based on approximately 1.8B shares outstanding.

07:01 EDT AcelRx names Raffi Asadorian as CFO, effective August 16 - AcelRx Pharmaceuticals announced the appointment of Raffi Asadorian as CFO, effective August 16. Asadorian brings over 25 years of finance, strategy and corporate development experience to AcelRx, most recently as CFO at Amyris, a commercial-stage biotechnology company.

07:00 EDT Gilead treatment of pediatric Crohn's disease granted FDA orphan status - Gilead Sciences' filgotinib maleate was granted FDA orphan status as a treatment of pediatric Crohn's disease, according to a post to the agency's website. Reference Link

06:58 EDT Janssen pediatric systemic lupus erythematosus treatment granted orphan status - Janssen Biotech, a Johnson & Johnson company, was granted FDA orphan status for ustekinumab as a treatment of pediatric systemic lupus erythematosus, according to a post to the agency's website. Reference Link

06:57 EDT Morgan Stanley raises quarterly dividend to 25c per share - Payable on August 15 to common shareholders of record on July 31.

06:56 EDT Morgan Stanley raises quarterly dividend to 25c per share

06:55 EDT Winmark trading halted, news pending

06:50 EDT Leidos awarded $55M prime contract by DOE - Leidos was awarded a prime contract by the Department of Energy, or DOE, Office of Energy Efficiency and Renewable Energy to provide engineering services for an energy and water savings program designed to promote the use of renewable energy technologies. The multiple-award indefinite-delivery/indefinite-quantity contract has a five-year base ordering period, an eighteen month option, and a total contract value of approximately $55M for all awardees. Leidos is one of 21 contractors eligible to compete for task orders under the program.

06:47 EDT Lindsay increases dividend 3.4% to 30c per share - Lindsay has declared a regular quarterly cash dividend of 30c per share, payable August 31, to shareholders of record on August 17. This quarterly cash dividend rate represents a 3.4% increase in the previous quarterly indicated rate of 29c per share.

06:46 EDT U.S. Bancorp reports Q2 return on average assets of 1.35% - Reports Q2 average common equity of 13.4%.

06:32 EDT SAIC awarded $621M U.S. Central Command task order - SAIC has been awarded the U.S. Central Command Command, Control, Communications, and Computers Enterprise Support task order, worth approximately $621M, by the U.S. General Services Administration Federal Systems Integration and Management Center. The single-award contract has a one-year base period of performance, four one-year options, and two one-year performance-based term periods. Work will be performed primarily at MacDill Air Force Base in Tampa, Florida, CENTCOM Forward Headquarters in Doha, Qatar, and in multiple international locations as required.

06:22 EDT Samsung expands Bixby voice capabilities in U.S. English - Samsung is taking another step forward towards helping people get more out of their connected lives by introducing Bixby voice capabilities for U.S. English in the United States and Korea. Bixby's added functionality will let users seamlessly navigate their phones and easily switch between voice commands, touch, vision and text. Bixby is an intelligent interface available on the Galaxy S8 and S8+ that makes interacting with your device, services and apps more instinctive and seamless. At launch, Bixby will be fully integrated across core Samsung apps. Support for additional native and third-party apps will be available via Bixby Labs, which includes select applications that are offering preliminary integration with Bixby. Because Bixby is deeply integrated into the device - rather than in a standalone application - users can easily switch between voice, touch or text commands. The Fly notes that in June, Axios said Samsung was ready to launch its twice-delayed Bixby voice assistant in the U.S., but only in preview form for now. The report said Samsung planned to expand Bixby's abilities "over time," including to third-party applications.

06:05 EDT Eco-Stim Energy promotes Barry Ekstrand to COO - Eco-Stim Energy announced that Barry Ekstrand, the company's Senior Vice President of Operations - North America, has been promoted to COO effective August 1. Ekstrand assumes this new role after helping the company to successfully complete the recent start-up of operations in Oklahoma. Simultaneously, Bobby Chapman, the company's current COO will be stepping down from that role while remaining a member of the company's executive team as Vice President of Corporate Development and M&A.

06:03 EDT AkzoNobel says CEO Ton Buchner stepping down immediately due to health reasons - AkzoNobel announces today that Chief Executive Ton Buchner steps down with immediate effect due to health reasons. The company has announced Thierry Vanlancker as the new CEO. Ton joined AkzoNobel in 2012. Thierry was most recently head of Specialty Chemicals at AkzoNobel, having joined the company in 2016. A successor for the Head of Specialty Chemicals will be announced in due course.

05:41 EDT McCormick believes combining brands will drive 'significant' holder value - McCormick notes that it believes the acquisition will drive significant shareholder value. "Enhance McCormick's Scale and Increase Growth Through the Expansion of its Portfolio and Consumer Base: McCormick anticipates that the Hot Sauce Category will continue to see robust growth, and with insight-driven innovation and a passionate and increasing fan base, there are significant opportunities for expansion. The company expects McCormick's growing global millennial household penetration to create substantial upside for Frank's RedHot and the other acquired brands, increasing their respective consumer bases. McCormick also expects revenue synergies as a result of leveraging seasonal Holiday promotions and Grilling events that include other McCormick iconic products like Lawry's, Grill Mates and our other global branded spices, herbs and extracts. Drive Branded Foodservice within our Industrial Segment: In addition to retail, RB Foods' brands have attractive positions across Hot Sauce, Mustard, Crispy Vegetable and BBQ Sauce sold through the U.S. and Canadian Foodservice channels. We expect these products to build upon McCormick's Industrial segment growth by increasing the size of that segment's Foodservice sales by over 50% in the U.S. and Canada. French's and Frank's RedHot are ideal additions to McCormick's tabletop offering and its established products. Leverage our Global Scale: McCormick expects to leverage its international infrastructure, which already includes condiment consumer insight, sales and supply chain expertise, to significantly expand the global presence of Frank's RedHot and French's, which we expect will result in substantial growth and increased household penetration. Realize Significant Cost Synergy Opportunities: As a result of increased scale, McCormick expects to achieve cost synergies of approximately $50 million, the majority of which will be achieved by 2020, with anticipated synergies split between selling, general and administrative expenses and cost of goods sold. Generate Margin Expansion: With the addition of RB Foods' business, McCormick expects to achieve meaningful accretion to its margins and adjusted earnings per share, excluding transaction and integration costs, and will achieve additional favorable impacts following the realization of targeted synergies."

05:35 EDT McCormick to acquire RB Foods from Reckitt Benckiser for $4.2B