Stockwinners Market Radar for July 21, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:11 EDT OpenText says Covisint proposal shows 'compelling' overall value - OpenText (OTEX) announced it believes its proposal to acquire 100% of the common stock of Covisint Corporation (COVS) for $2.45 per share in cash provides Covisint shareholders with "compelling overall value and value certainty." OpenText noted that the agreed-upon consideration, which was the result of an active and aggressive negotiation, reflects significant value to shareholders, as represented by the offer price's approximate premium of 23% to the closing price per share of Covisint's common stock on June 2, 2017, 27% to the volume-weighted average trading price per share of Covisint's common stock for the 30-day period ending on June 2, 2017, and 46% to the cash-adjusted price per share of Covisint's common stock for the 30-day period ending on June 2, 2017. "Given the lengthy exploration of strategic alternatives that Covisint undertook and the attractive premium and valuation reflected in OpenText's offer, OpenText believes a rejection of the offer exposes Covisint shareholders to significant market valuation risk and diminished liquidity," OpenText said. "OpenText remains fully committed to closing a Covisint transaction, which is in the best interests of both companies' shareholders, but does not intend to increase the consideration offered to Covisint shareholders."

17:26 EDT National American University to acquire H-PU, terms not disclosed - National American University Holdings announced its intent to acquire California-based Henley-Putnam University, the only accredited online university solely focused on strategic security degree programs, which had student enrollment of 713 as of December 31, 2016. The company and H-PU executed an Asset Purchase Agreement on July 21, 2017. Upon the closing of the transaction, H-PU's educational programs are anticipated to become part of NAU's degree and certificate program offerings. The closing of this proposed transaction is subject to customary closing conditions, as well as the receipt of necessary approvals from various regulatory and accrediting bodies, including the Higher Learning Commission.

16:54 EDT Raptor/Harbor Reeds reports 5.46% stake in Reed's

16:51 EDT Perrigo board suspends CFO search during CEO search - The company's Board of Directors appointed Ronald Winowiecki as acting CFO of the company effective February 27. Although Winowiecki remains a key candidate for the company's permanent CFO, the Board has suspended its CFO search during its search for Hendrickson's successor as CEO.

16:32 EDT AK Steel to increase prices for carbon flat-rolled steel products - AK Steel said that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $25 per ton, effective immediately with new orders.

16:16 EDT Community Health to sell Sebring, Florida hospital to HCA Holdings - Community Health Systems (CYH) announced that subsidiaries of the company have signed a definitive agreement to sell 126-bed Highlands Regional Medical Center in Sebring, Florida, and its associated assets to subsidiaries of HCA Healthcare (HCA). The transaction is expected to close in the fall of 2017, subject to customary regulatory approvals and closing conditions. The hospital included in this transaction is one of the 30 planned hospital divestitures discussed on the company's first quarter 2017 earnings call.

16:07 EDT Radius Health: CHMP issues second Day-180 list related to Eladynos - Radius Health announced that on July 21, the Committee for Medicinal Products for Human Use, the scientific committee of the European Medicines Agency, issued a second Day-180 List of Outstanding Issues and requested additional data analyses related to the safety and efficacy of abaloparatide-SC in the process of their ongoing regulatory review. Radius expects the CHMP to issue an opinion regarding the MAA for abaloparatide-SC prior to the end of 2017. If approved, abaloparatide-SC will be marketed in the European Union as Eladynos and would be the first new anabolic approved in Europe in 14 years. Abaloparatide-SC was approved by the U.S. FDA in April 2017 for the treatment of postmenopausal women with osteoporosis at high risk for fracture and is marketed in the U.S. as TYMLOS.

15:53 EDT Oaktree Capital reports 19.2% stake in Fifth Street Finance

15:36 EDT GlaxoSmithKline announces FDA approval of Benlysta for SLE - GlaxoSmithKline announced that the FDA has approved a new subcutaneous formulation of Benlysta for the treatment of adult patients with active, autoantibody-positive SLE who are receiving standard therapy. Systemic Lupus Erythematosus, or SLE, is the most common form of lupus, the company said. The approval marks the first subcutaneous self-injection treatment option for patients with SLE, it adds. Benlysta subcutaneous formulation will be available in specialty pharmacies in the U.S. in late August.

14:41 EDT NS Advisors reports 5.4% stake in Wheeler REIT - Recently, NS Advisors has become concerned about Wheeler REIT's current trading price. It is NS Advisors intent to engage in a dialogue with the management and the board of directors of Wheeler REIT to address these concerns and questions. Andrew Jones, the managing partner of NS Advisors, sent a letter dated July 20, to Mr. Jon S. Wheeler, Chairman and CEO of Wheeler REIT addressing, among other things, ways in which it believes shareholder value may be maximized.

14:22 EDT Momenta: Jury finds patent on Lovenox manufacturing infringed but invalid - Momenta Pharmaceuticals announced that the jury in the District Court for the District of Massachusetts in Boston has issued its verdict finding that the company's U.S. Patent No. 7,575,886, covering methods for the manufacturing of generic LOVENOX was infringed, but invalid and unenforceable. "We are disappointed in the jury's verdict and believe the facts and the law do not support these findings. We are considering all available legal options to overturn the verdict, including post-trial motions and appeals," said Craig Wheeler, President and Chief Executive Officer of Momenta. "We continue to believe in the importance of investing in innovative techniques for bringing products to market and protecting those innovations from unauthorized use." Formal judgment has not yet been entered.

13:12 EDT FedEx says 'closely monitoring" California wildfires - FedEx says in a service alert on its website that it is "closely monitoring the wildfires in California. Our first priority is the safety and well-being of our team members and we will implement contingency plans as necessary. Events of this nature often cause pickup and delivery delays and disruptions for FedEx customers. FedEx will be prepared to provide service to the best of our ability in areas affected by natural disaster, as local conditions allow."

13:03 EDT Baker Hughes reports U.S. rig count down 2 to 950 rigs - Baker Hughes reports that the U.S. rig count is down 2 rigs from last week to 950, with oil rigs down 1 to 764 and gas rigs down 1 to 186. The U.S. Rig Count is up 488 rigs from last year's count of 462, with oil rigs up 393, gas rigs up 98, and miscellaneous rigs down 3 to 0. The U.S. Offshore Rig Count is up 2 rigs from last week to 23 and up 4 rigs year over year. The Canadian Rig Count is up 15 rigs from last week to 206, with oil rigs up 12 to 118 and gas rigs up 3 to 88. The Canadian Rig Count is up 104 rigs from last year's count of 102, with oil rigs up 70, gas rigs up 35, and miscellaneous rigs down 1 to 0.

12:57 EDT Eros International slides as tweets question company accounting - A sudden slide in shares of Eros International trading in New York appears related to tweets questioning the company's accounting. A Twitter account identified as being owned by "Nate Anderson," which has 2,155 followers, has posted pictures of what appear to be financial statements related to Eros Television India Private Limited and questioned its relationship to Eros International. Shares of Eros, which were halted for volatility earlier, are down about 20% to $10.90 near 1 pm ET. Reference Link

12:48 EDT American Axle plunges after reports of deep GM production cuts - Shares of drivetrain maker American Axle (AXL) are plunging after reports of potentially significant production cuts at General Motors (GM). GM PRODUCTION CUTS: According to an earlier report from Reuters, the auto giant is weighing "whether to cancel at least six passenger cars in the U.S. market after 2020, including the Chevrolet Volt hybrid, which could be replaced in 2022 with a new gasoline-electric crossover model." Other GM production cuts may be aimed at the the Buick LaCrosse, Cadillac CT6, Cadillac XTS, Chevrolet Impala and Chevrolet Sonic, Reuters sources added. DEPENDENCY ON GM: In its 2016 annual report the company noted that it is the "principal supplier of driveline components to General Motors Company (GM) for its full-size rear-wheel drive light trucks and SUVs manufactured in North America, supplying substantially all of GM's rear axle and four-wheel drive and all-wheel drive axle requirements for these vehicle platforms. Sales to GM were approximately 67% of our consolidated net sales in 2016, 66% in 2015, and 68% in 2014. We are the sole-source supplier to GM for certain axles and other driveline products." The company reduced its GM exposure with its acquisition of Metaldyne last year. Metaldyne specializes in iron castings for steering knuckles, control arms and differential cases. It also produces forgings, powdered metal parts, and machined components. At the time of the merger, the companies said the union brings together "highly complementary businesses and forms a premier, global Tier 1 supplier with broad capabilities across powertrain, drivetrain and driveline product lines, as well as diversified customer base and end-markets." Recently, at an industry presentation a company spokesperson referred to diversification away from GM, say that American Axle is benefiting from strong SUV sales, "not just traditional rear-wheel drive SUV programs like the K2XX program we support for General Motors but also the "front-wheel drive based" all-wheel drive programs that we support now for a range of different customers around the world." At the conference, the company expressed its pleasure over the diversification that the Metaldyne transaction brings. American Axle referred to its new found relevancy to front-wheel drive architectures, passenger car programs, global capabilities around engine and transmission components beyond what we've traditionally been able to do in the driveline area. ANALYST VIEWS: The last company earnings report in early May was solid, beating on both the top and bottom lines by wide margins. After a solid first quarter report back in May, JP Morgan analyst Ryan Brinkman reinstated American Axle with an Overweight rating and $23 price target. The acquisition of Metaldyne Performance Group helps remove many of the historical reasons for company's low valuation, the analyst said at the time. More recently, Guggenheim analyst Emmanuel Rosner started American Axle with a Buy rating and $18 price target. EUROPEAN CAR SALES FALL: Car sales in Europe rose at a slower pace in June as Bexit-related worries in the UK hurt car demand. PRICE ACTION: American Axle shares are off their intraday low of $15.17, but still down over 5% at $15.64 per share. General Motors is down 1.5% to 35.87 per share. OTHERS: Shares of other auto suppliers are also lower, including Delphi Automotive (DLPH), Lear (LEA), BorgWarner (BWA), and Magna International (MGA).

12:23 EDT Oxford Asset Management reports 5.3% stake in Atwood Oceanics

12:14 EDT Honeywell notified Justice Department not taking action on F-35 investigation - Honeywell disclosed in its latest quarterly filing, "In 2013 the Company received subpoenas from the Department of Justice requesting information relating primarily to parts manufactured in the United Kingdom and China used in the F-35 fighter jet. In May 2017, Honeywell received a declination letter from the Department of Justice stating that it would not pursue any criminal prosecution of the Company or its employees. This matter is now fully resolved."

11:48 EDT Manhattan Associates falls after cutting view amid retail headwinds - Shares of Manhattan Associates (MANH) fell in late morning trading after the company reported earning results for the second fiscal quarter and lowered its guidance for fiscal year 2017. EARNINGS: After the market close on Thursday, Manhattan Associates reported second quarter earnings per share of 50c on revenue of $154.1M, compared to analyst estimates of 48c and 154M, respectively. The company reported consulting services revenue of $80.9M down 7%, but license revenue growth up 9% over the prior year for the quarter totaling $22.4M. GUIDANCE: Manhattan Associates lowered its full year total revenue guidance to $590M-$600M from $606M-$620M. The company also lowered its guidance range for adjusted EPS to $1.85-$1.89, down from $1.89-$1.93. The guidance compares to analyst estimates of $611.16M in revenue and $1.90 for EPS. In addition, the company estimates Q3 services revenue to be down about 2% and a sequential decline in services revenue of roughly 3% from Q3 to Q4. MANAGEMENT COMMENTARY: "While it will take time to build subscription revenue, we are factoring in potential second half impact on our revenue and earnings based on positive customer interest in pipeline activity," CFO Dennis Story said. "The top end of our guidance range for revenue and earnings assumes performance is weighted to our traditional on-prem business with license maintenance and services and the low-end assumes the positive impact of uptick on our cloud solutions with ratable revenue recognition and potential services revenue deferral until customer go live with recognition over the remaining term of the customer contract." President and CEO Eddie Capel added, "While the global and retail macroeconomic condition certainly give us reason to be cautious, we're very bullish on the market opportunity ahead of us and investing significant energy and capital into innovation and advancing the world's leading suite of supply-chain commerce solutions so as to extend our market leadership in 2017 and beyond." ANALYST VIEW: Benchmark analyst Mark Schappel kept a Hold rating on the stock with a price target of $48 saying while he believes the company's applications are part of the longer-term solution to assist traditional retailers compete with emerging online rivals, he sees few near-term catalysts until retailers rethink their supply chain projects and become more urgent with technology deployments. PRICE ACTION: Manhattan Associates dropped 9.2% to $43.08 in morning trading.

11:36 EDT Dominion Midstream raises quarterly distribution 5% to 28.8c per unit - The board of directors of Dominion Energy Midstream GP, the general partner of Dominion Energy Midstream Partners, has declared a second-quarter 2017 cash distribution of 28.8c per common and subordinated unit - an increase of 5% above the first-quarter 2017 distribution - which corresponds to an annualized distribution rate of $1.152 per such unit. Distributions are payable on Aug. 15, 2017, to unitholders of record at the close of business Aug. 4, 2017.

11:06 EDT BTIG, Atlantic say sell J&J on lackluster drug outlook - Two research firms, BTIG and Atlantic Equities, downgraded Johnson & Johnson (JNJ) to a Sell rating or its equivalent. BTIG is pessimistic about the outlook of the company's pharmaceutical unit, while Atlantic Equities believes that expectations for its drug pipeline are high. BTIG: Analyst Dane Leone cut J&J to Sell from Neutral. Even after factoring in three anticipated upcoming "blockbuster" drug launches for J&J, Leone still predicted that the sales of the company's pharma unit would only have a compound annual growth rate of about 3.75% through 2021, versus the company's 5% guidance. Additionally, the analyst remained skeptical about the company's acquisition of Actelion, predicting that Actelion's drug sales would not exceed consensus estimates while it would generate "little synergy" for J&J. The analyst set a $110 price target on the stock. ATLANTIC EQUITIES: Analyst Steve Chesney downgraded the stock to Underweight from Neutral. The company's second quarter results indicated that the outlook for the company's full-year results has declined due to the weakness of its consumer business and slower margin increases, the analyst stated. Moreover, given pressures on the company's immunology business, its pharma revenue will probably only increase by about 5% in 2018, Chesney warned, calling the company's 2018 outlook "challenging." Turning to Johnson & Johnson's pharma pipeline, he believes that only two or three of its drugs give it "credible, near-term" $1B opportunities. Expectations for the near-term data readouts of its pipeline "are already full," he added. Moreover, investors are underestimating the risk posed to the company by upcoming data reports by its competitors, he wrote. The analyst raised his price target on the stock to $113 from $112. PRICE ACTION: In morning trading, J&J fell 1% to $135.27 per share.

10:31 EDT Raymond James ups Juniper as Google alumnus seen aiding cloud move - The shares of Juniper Networks (JNPR) are rising in a declining market after research firm Raymond James upgraded the stock to Outperform from Market Perform. The company's move towards cloud and software is underappreciated by the market, while its new CTO is well-positioned to help manage this transition, the firm believes. TRANSITION: The resume of Juniper's new CTO, Bikash Koley, "aligns well" with the company's new strategy, wrote Raymond James analyst Simon Leopold. Specifically, Koley is a Google (GOOG,GOOGL) alumnus, indicating that he is well-versed in the cloud and "he understands the cloud and how hyper-scale and web 2.0 companies think," according to Leopold. Koley appears to understand software and automation, while his tenure at Ciena (CIEN) has given him an understanding of optical networking, where Juniper has lagged in recent years, Leopold stated. HIGH CLOUD EXPOSURE: Juniper has one of the highest exposures to cloud vendors in the switching and routing space, according to Leopold. Its revenue from the quickly growing cloud market accounts for over 25% of its annual sales and has reached an annual run rate of over $1B, he added. BULL CASE, TARGET: In a bull case scenario, which is more likely than the bear case, Juniper's 2018 EPS will reach $2.46, bringing the stock's fair value to $37, Leopold wrote. The analyst placed a $34 price target on the stock. PRICE ACTION: In morning trading, Juniper rose 0.9% to $29.48.

10:18 EDT Fifth Third expects to achieve positive operating leverage in Q3, FY17

10:09 EDT New Hulu experience, Hulu with Live TV beta to launch on Amazon Fire TV devices - Richard Irving, Head of Product at Hulu, said in a statement, "When we first introduced the new Hulu experience and Hulu with Live TV beta in May, we launched on five platforms - Apple TV, Xbox One, iOS and Android mobile devices, and Chromecast. Focusing on a handful of devices allowed us to learn a lot from our viewers on those devices and make many improvements over the past few weeks. Now, we're excited to bring the brand-new Hulu to even more TV fans. Beginning today, Hulu's new experience and Live TV service will be available on the Amazon Fire TV and Amazon Fire TV Stick. Hulu viewers who watch on these devices will be upgraded to the newly revamped user interface and will now also have the option to subscribe to the Hulu with Live TV beta plan... We will continue to roll out to more devices soon." Hulu is a joint venture owned by 21st Century Fox (FOXA), Comcast (CMCSA), Disney (DIS) and Time Warner (TWX).

09:56 EDT Honeywell says sees Q3 organic sales up 2%-4% - Sees Q3 segment margin up 120-160 bps, effective tax rate ~26%.

09:38 EDT AbbVie receives CHMP positive opinion for Humira for pediatric patients with AU - AbbVie said that the European Committee for Medicinal Products for Human Use of the European Medicines Agency has granted a positive opinion for HUMIRA for the treatment of chronic non-infectious anterior uveitis in pediatric patients from two years of age who have had an inadequate response to or are intolerant to conventional therapy, or in whom conventional therapy is inappropriate. The CHMP opinion is based on results from the SYCAMORE clinical trial, a randomized controlled study of the clinical effectiveness and safety of HUMIRA combined with methotrexate versus methotrexate plus placebo for the treatment of active JIA-associated uveitis. It was sponsored by the University Hospitals Bristol NHS Foundation Trust and coordinated by the Clinical Trials Research Centre at the University of Liverpool. The Independent Data Safety and Monitoring Committee recommended unmasking the trial early after 90 randomized patients with active JIA-associated uveitis showed that HUMIRA combined with methotrexate controlled ocular inflammation better and was associated with a significantly lower rate of treatment failure than placebo. The review of the marketing authorization application is being conducted under the centralized licensing procedure. A marketing authorization decision is anticipated by September. If approved, the authorization will be valid in all 28 member states of the European Union, as well as Iceland, Liechtenstein and Norway. HUMIRA was approved by the European Medicines Agency for the treatment of non-infectious intermediate, posterior and panuveitis in adults in June 2016.

09:32 EDT Schlumberger sees continued growth trends in Q3 carrying over from Q2

09:27 EDT WidePoint trading halted, news pending

09:24 EDT Honeywell says expects outperformance to continue through 2017

09:20 EDT Schlumberger says U.S. business 'back in the black' - Says currently pursuing market share. Says continued shale results depend on hedges, borrowing. Says expects to add more project work in North America. Says U.S. E&P growth rate may slow at current oil prices.

09:10 EDT General Electric says CFOA trending to bottom of FY17 view - GE said on its Q2 call that it expects "substantial improvement in cash" in the second half, driven by higher earnings and continued working capital improvement on higher shipments, partly offset by contract assets. For the year, GE is trending to the bottom end of the $12B-$14B range on Cash Flow From Operating Activities, or CFOA, driven by pressure, principally in Power and Oil & Gas, the company's CFO stated.

09:07 EDT Immelt says GE 'will prosper' as oil & gas cycle recovers

09:04 EDT GSK, Innoviva announce EU filing for extended use of Relvar Ellipta - GlaxoSmithKline (GSK) and Innoviva (INVA) announced a submission to the European Medicines Agency for the extended use of once-daily Relvar Ellipta, an inhaled corticosteroid/ long-acting beta2-agonist combination, in patients already adequately controlled on an ICS/LABA combination. FF/VI is currently indicated in Europe for the regular treatment of patients aged 12 and over with asthma who are not adequately controlled on both ICS and 'as-needed' short-acting beta2-agonist and where use of a combination product is appropriate. The proposed indication, would also include those patients already adequately controlled on an ICS/LABA combination. The submission includes positive data from a previously reported non-inferiority lung function study which concluded that patients who have well-controlled asthma are able to switch from twice-daily fluticasone propionate/salmeterol, FP/SAL 250/50 to once-daily FF/VI 100/25, without compromising their lung function. Based on review of the data from this study, no new safety signals were identified and the adverse event data are consistent with the known safety profile for FF/VI established in patients with asthma. The study design was agreed with European regulatory authorities.

09:03 EDT General Electric CFO sees lower asset sales in second half

09:00 EDT Schlumberger says likely to see strong activity in U.S. in 2018

08:58 EDT Schlumberger says seeing small signs of higher spending in rest of world

08:56 EDT Schlumberger says U.S. equity investors may have 'spooked' the oil market

08:54 EDT Innocoll says High Court of Ireland approved acquisition by Gurnet Point - Innocoll Holdings announces that the High Court of Ireland has approved the acquisition of Innocoll by Gurnet Point L.P. through its wholly owned subsidiary Lough Ree Technologies by means of a scheme of arrangement under Chapter 1 of Part 9 of the Companies Act 2014, also know as the Scheme. The court sanction hearing in relation to the Scheme was held earlier today at which the High Court of Ireland sanctioned the Scheme pursuant to Sections 449 to 455 of the Companies Act 2014 and confirmed the related reduction of capital. Completion of the Acquisition remains subject to the following condition which is set out in the definitive proxy statement dated 10 May 2017 despatched to Innocoll shareholders, namely delivery to and the associated registration by the Registrar of Companies in Ireland of (i) office copies of the order of the High Court of Ireland sanctioning the Scheme and confirming the reduction of capital; and (ii) the minute required by Section 86 of the Companies Act 2014 in respect of the reduction of capital, which is expected to occur on 24 July 2017. Accordingly, the Scheme is expected to take effect on July 24. In connection with the completion of the Acquisition, Innocoll intends to request that the NASDAQ (i) suspend the trading and the listing of Innocoll's ordinary shares on the NASDAQ before the market opens on the effective date of the Scheme, and (ii) file with the SEC a notification of removal from listing on Form 25 to delist Innocoll's ordinary shares. The High Court approved a technical modification to the Scheme to clarify, for the avoidance of doubt that successors and assigns of the CBM Plaintiffs would benefit from the provisions of the Scheme.

08:46 EDT Schlumberger says expects to double SPM revenue over next two years - Says has invested $4.3B total in SPM since 2012.

08:41 EDT Schlumberger says all U.S. product lines profitable in Q2 - Says expect high demand for drilling services to continue in 2H17. Says U.S. frack calendar fully booked into Q4.

08:35 EDT China XD Plastics signs investment agreements for $614M in Harbin, China - China XD Plastics announced the official signing of investment agreements between its subsidiary, Heilongjiang Xinda Enterprise Group, and the Management Committee of Harbin Economic - Technological Development Zone with respect to the industrial project for 300,000 metric tons of biological composite materials, the industrial project for upgrading existing equipment for 100,000 metric tons of engineering plastics and the industrial project for a 3D printing intelligent manufacture demonstration factory and a 3D printing display and experience cloud factory. As part of the company's strategic investment, the company will develop 120,000 metric tons of capacity for petroleum-based materials, 300,000 metric tons of capacity for biological composite materials and 10,100 metric tons of capacity for additive manufacturing used composite materials pursuant to the Project. The total capital expenditures for the company will be RMB4.15B, estimated US$614M. Both the industrial project for 300,000 metric tons of biological composite materials and the industrial project for a 3D printing intelligent manufacturing demonstration factory and a 3D printing display and experience cloud factory are expected to be completed by the end of July 2019. The industrial project for upgrading existing equipment for 100,000 metric tons of engineering plastics is expected to be completed by the end of June 2018.

08:32 EDT Endo closing Huntsville manufacturing and distribution facilities - Endo will be ceasing operations and closing its manufacturing and distribution facilities in Huntsville, Alabama. The closure of the facilities is expected to take place over the next 12 to 18 months. The Huntsville location has been impacted by declining volumes of commoditized products. These restructuring actions are expected to reduce Endo's workforce by approximately 875 positions and to result in pre-tax restructuring charges of approximately $325M, including approximately $60M of cash charges. The remaining non-cash charges consist primarily of accelerated depreciation of approximately $165M and intangible asset and property, plant and equipment impairment charges of approximately $90M. Endo expects to realize $55M-$65M in annual net run rate pre-tax cost savings by 4Q18.

08:11 EDT J&J's Janssen receives positive CHMP opinion for Symtuza - Janssen-Cilag International announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has issued a Positive Opinion recommending marketing authorisation for SYMTUZA, a once-daily darunavir-based single tablet regimen. If approved, it will be the only darunavir-based STR indicated for the treatment of human immunodeficiency virus type 1 infection in adults and adolescents aged 12 years and older with body weight of at least 40 kg, with genotypic testing guiding use. The CHMP's Positive Opinion will now be reviewed by the European Commission, which has the authority to grant marketing authorisation for medicines in the European Economic Area. The European Commission's final decision is anticipated in the coming months.

08:03 EDT Syros 'on track' to present initial data from Phase 2 SY-1425 trial this fall - Syros Pharmaceuticals announced that data providing the foundation of its clinical development strategy for SY-1425, its first-in-class selective retinoic acid receptor alpha agonist currently in a Phase 2 clinical trial in genomically defined subsets of patients with acute myeloid leukemia and myelodysplastic syndrome, were published online in Cancer Discovery, a peer-reviewed journal of the American Association of Cancer Research. Syros is on track to present initial data from the Phase 2 clinical trial this fall. The publication highlights Syros' discovery of a subset of AML patients with a super-enhancer associated with the RARA gene, which was shown in preclinical studies to be predictive of response to SY-1425. Syros also found a subset of MDS patients with high expression of the RARA gene and demonstrated in ex vivo studies that RARA-high MDS had a similar response to SY-1425 as that seen in AML driven by the RARA super-enhancer. The data show that: Super-enhancer profiles were strongly associated with survival outcomes, often independent of known genetic mutations in AML. The RARA super-enhancer was associated with high expression of the RARA gene, which codes for a transcription factor targeted by SY-1425. The RARA super-enhancer was predictive of response to SY-1425. In AML cells with high RARA expression, SY-1425 reduced proliferation and promoted differentiation. Moreover, SY-1425 decreased tumor burden and prolonged survival in patient-derived xenograft models of AML with high RARA expression, while no effect was found on AML cells or PDX models with low RARA expression. Notably, ATRA, a less potent and non-selective retinoid, produced no survival benefit in PDX models with high RARA expression. SY-1425 induced profound transcriptional changes promoting cell differentiation in AML cells with high RARA expression but little to no transcriptional changes in AML cells with low RARA expression. DHRS3 was the most strongly and rapidly induced gene in response to treatment with SY-1425, leading to the identification of DHRS3 induction as a pharmacodynamic marker for use in the ongoing Phase 2 clinical trial as an early indicator of whether SY-1425 is affecting the targeted biology in defined subsets of AML and MDS patients. SY-1425 induced transcriptional and epigenomic changes in AML cells with high RARA expression similar to those seen in acute promyelocytic leukemia (APL) cells treated with SY-1425. SY-1425 is approved in Japan as Amnolake to treat relapsed or refractory APL, a form of AML that is driven by fusions of the RARA gene, and has a well-established safety and efficacy profile in those patients.

08:02 EDT Rice Midstream Partners increases quarterly distribution 4% to 27.11c per share - Rice Midstream Partners has approved a Q2 cash distribution of 27.11c per unit, an increase of 4% above the Q1 distribution. The distribution is payable on August 17 to unitholders of record on August 8.

08:01 EDT JetBlue issues RFQ to developers for JFK Airport terminal project - JetBlue released a Request for Qualifications for the development of a terminal at New York's JFK Airport. This development initiative is aligned with New York Governor Andrew Cuomo's vision plan to transform JFK International Airport into an airport equipped to meet the demands of the 21st century. In coordination with the Port Authority of New York and New Jersey's master plan process, JetBlue is seeking to lead the development of the former Terminal 6 site and potentially the Terminal 7 site. JetBlue will identify innovative development opportunities that meet the needs of travelers in the New York region. The project would accommodate increases in customer traffic in the airline's largest focus city, enhance and facilitate codesharing and interline agreements, and open the door to new value-enhancing partnership opportunities. The project, subject to approval from the Port Authority of New York and New Jersey, will include: Phased development on the Terminal 6 and potentially the Terminal 7 site; The addition of international gates for JetBlue and partner airlines; Seamless connection to Terminal T5 and throughout the new facilities, both on the landside and on the airside; New curb-frontage and roadways providing increased vehicle capacity and enhanced access to the terminals. JetBlue is opening this RFQ process to developers. After receiving submissions from the RFQ, JetBlue will identify a select pool of qualified bidders to participate in a Request for Proposal process later this year.

07:52 EDT Merck, Pfizer: CHMP issues positive opinion for avelumab - Merck (MRK) and Pfizer (PFE) announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has recommended the approval of avelumab as a monotherapy for the treatment of adult patients with metastatic Merkel cell carcinoma, a rare and aggressive skin cancer. The European Commission will now review the CHMP's recommendation, with a decision expected in the third quarter of 2017.

07:40 EDT Fifth Third sees FY17 NII on FTE basis up 5%, NIM in line with Q2 - Sees Q3 and FY17 adjusted noninterest income up 2%, excluding mortgage. Sees FY NII on an FTE basis up 5%, NIM in line with Q2. Sees Q3 NII on an FTE basis up 2% sequentially, NIM up about 2bps sequentially. For FY17, sees about 1% commercial loan growth, including impact of $600M of remaining exists. Sees low to mid single digit consumer and mortgage loan growth, excluding auto balances. Sees flat noninterest expense for FY17, including incremental North Star expenses. Sees noninterest expense up about 1% in Q3 y/y. Sees NCOs range-bound with potential quarterly variability, provision reflective of loan growth. Sees FY17 effective tax rate in 24.5%-25.5% range, with Q3 tax rate in 25.5% range. Comments from slides that will be presented on the Q2 earnings conference call.

07:37 EDT Huntington Bancshares reports tangible book value per share $6.74 - Tangible book value per share as of 2017 second quarter-end was $6.74, an 8% year-over-year decrease and a 3% increase from 2017 first quarter-end. Return on average assets was 1.09%, return on average common equity was 10.6%, and return on average tangible common equity was 14.4%. Total revenue increased 37% over the year-ago quarter.

07:32 EDT Entravision agrees to acquire NBC, MyNetworkTV affiliates in California - Entravision Communications announced that it has entered into an agreement with OTA Broadcasting to acquire stations KMIR-TV, the NBC affiliate, and KPSE-LD, the MyNetworkTV affiliate, serving Palm Springs, California, for $21M. Including anticipated synergies, the transaction represents an attractive purchase price multiple of less than 6.5 times expected blended 2016-2017 pro forma broadcast cash flow, is expected to be immediately free cash flow accretive and is expected to be funded on a tax efficient basis with proceeds from the FCC broadcast incentive auction and treated as a "like-kind exchange." Entravision currently owns and operates the UniMas and Univision affiliated television stations and 94.7 FM Jose and 103.5 FM Tricolor radio stations serving the Palm Springs, CA market. The transaction, which is subject to customary closing conditions, including the prior consent of the Federal Communications Commission, is expected to close in the fourth quarter of 2017.

07:32 EDT J.B. Hunt to acquire Special Logistics Dedicated for $136M - J.B. Hunt Transport Services announced it has entered into an agreement to acquire Special Logistics Dedicated, LLC, and its affiliated entities, subject to customary closing conditions. The purchase price is $136M with no assumption of debt. J.B. Hunt anticipates using its existing revolving credit facility to finance this transaction and to provide liquidity for future operations. The transaction is not expected to have a significant impact on interest expense. Preliminary valuations indicate an incremental amortization expense between $7M and $10M annually. J.B. Hunt expects the transaction to be immaterial to 2017 operating results and accretive in 2018.

07:31 EDT Novartis receives 'positive' CHMP opinion for Rydapt - Novartis announced that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, adopted a positive opinion recommending approval of Rydap for the treatment of adults with newly diagnosed acute myeloid leukemia, or AML, who are FLT3 mutation-positive. If approved by the European Commission, or EC, Rydapt will be indicated in combination with standard daunorubicin and cytarabine induction and high-dose cytarabine consolidation chemotherapy, and for patients in complete response, followed by Rydapt single agent maintenance therapy, for adult patients with newly diagnosed AML who are FLT3 mutation-positive. Rydapt was also recommended for approval as monotherapy for the treatment of adult patients with aggressive systemic mastocytosis, or ASM, systemic mastocytosis with associated hematological neoplasm, or SM-AHN, or mast cell leukemia. If approved, Rydapt will be the first targeted treatment available in the European Union for newly diagnosed FLT3 mutation-positive AML patients and advanced systemic mastocytosis patients. The opinion follows the recent FDA 2017 approval of Rydapt for FLT3-mutated AML and advanced SM on April 28 and the Swissmedic approval on May 4.

07:30 EDT Ipsen receives positive CHMP opinion for approval of Xermelo - Ipsen announced that the Committee for Medicinal Products for Human Use, the scientific committee of the European Medicines Agency, has adopted a positive opinion recommending the approval of Xermelo 250 mg three times a day for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analogue therapy in adults inadequately controlled by SSA therapy. The CHMP positive opinion will now be reviewed by the European Commission, which has the authority to approve medicines for use in the 28 countries of the European Union, as well as Norway, Liechtenstein and Iceland.

07:19 EDT Del Frisco's down 2.6% after reporting Q2 resutls, cutting FY17 guidance

07:15 EDT uniQure announces 'successful' development of hemophilia gene therapy candidate - uniQure announced that it has successfully developed and optimized a reproducible and scaled-up manufacturing process for producing its lead gene therapy candidate for patients with hemophilia B at its state-of-the-art manufacturing facility in Lexington, Massachusetts. This progress includes the validation of analytical methods required to manufacture and test product in accordance with Good Manufacturing Practices. The company has also finalized its comparability protocol and is making progress on its execution.

07:08 EDT Plug Power announces expanded collaboration with Walmart - Plug Power (PLUG) announces a new collaborative agreement with Walmart to facilitate further expansion of its ongoing relationship with Wal-Mart Stores (WMT). The new agreement includes revised deal terms with Walmart that allow Plug Power to access project financing at a lower cost of capital and no restricted cash, making Plug Power's future distribution transactions with Walmart cash flow positive up front. Plug Power expects to provide its GenKey hydrogen fueling station and fuel cell energy solutions to up to 30 additional Walmart sites in North America over the next three years, with ten sites already under contract and scheduled to be finished by the end of 2017. The value of these 2017 commitments is expected to be around $80 million. On average, Plug Power has deployed a new Walmart site every 6 weeks since 2014, resulting in a deployed fleet of 5500 Plug Power fuel cells at 22 of Walmart's U.S. distribution centers as of the end of 2016. As part of the agreement, and as an incentive to align Walmart's future business with Plug Power's growth and success, Plug Power has granted Walmart warrants to acquire up to 55,286,696 of Plug Power's common shares. Warrants for the first 5,819,652 shares vested upon execution of the new program agreements at an exercise price of $2.1231 per share, which is based on the volume weighted average closing price of Plug Power common shares for the thirty trading days ending July 19, 2017. Additional warrants will vest in installments tied to successive $50 million payment thresholds, up to a total of $600 million in the aggregate, made by Walmart in connection with qualified purchases of goods and services from Plug Power. The exercise price for warrants vesting after the first 34,917,912 warrant shares will be based on the volume weighted average closing price at the time that such warrants vest.

07:07 EDT Colgate-Palmolive reports Q2 global unit volume down 1% - Global unit volume decreased 1.0%, pricing increased 1.0% and foreign exchange was negative 0.5%. Organic sales were even with the year ago period.

07:04 EDT Quanta Services acquires Stronghold - Quanta Services has completed the acquisition of Stronghold and Stronghold Specialty, a specialized services company that provides high pressure and critical path solutions to the downstream and midstream energy markets, headquartered in La Porte, Texas. Stronghold generated revenues of approximately $500M for 2016 and has a workforce averaging approximately 2,800 employees. The transaction consideration consists of an upfront payment of approximately $450M, comprised of $360M of cash and 2.7 million shares of Quanta Services common stock valued at approximately $90M, with a cash and stock earnout that could provide maximum additional consideration of $100M if cumulative three-year EBITDA targets are achieved. For the remainder of 2017, the acquisition of Stronghold is expected to generate $6.0M-$7.5M of net income attributable to common stock and to be accretive to Quanta's GAAP diluted EPS by 2c-3c and to non-GAAP adjusted EPS by 6c-7c, with accretion expected to increase in 2018. The allocation of the purchase price is preliminary and subject to change. Stronghold's existing management team will remain in place, with founder Joe Durham continuing as CEO of Stronghold.

07:02 EDT Schlumberger CEO announces deal to buy majority interest in EDC - Schlumberger Chairman and CEO Paal Kibsgaard commented, "Our second-quarter revenue increased 8% sequentially while pretax operating income rose by 25%, resulting in earnings per share growth of 40%. Beyond seasonal effects, revenue grew in all of our Groups and Areas. North America revenue increased 18% following our rapid deployment of idle hydraulic fracturing capacity as land activity further accelerated during the second quarter, partially offset by further weakness offshore in the US Gulf of Mexico. In the international markets, revenue increased 4% sequentially, led by Europe/CIS/Africa as activity recovered from the winter slowdown in Russia and the North Sea. Latin America revenue increased due to higher reservoir characterization and drilling activities in the Mexico & Central America GeoMarket, as well as from increased unconventional land activity in Argentina. Among the business segments, growth in the second quarter was led by the Production and Drilling Groups, where revenue increased sequentially by 14% and 6%, respectively, as hydraulic fracturing and directional drilling activity in US land accelerated." The CEO also said that, "We announced a new agreement yesterday to acquire a majority equity interest in the Eurasia Drilling Company. This extends the successful long-term relationship that we have enjoyed with EDC through the strategic alliance that we signed in 2011. Closing of the transaction is subject to approval by the Federal Antimonopoly Service of Russia."

06:58 EDT Colgate-Palmolive CEO calls Q2 'challenging' - Ian Cook, Chairman, President and CEO commented on the second quarter results, "The second quarter was another challenging one. Net sales declined 0.5% and organic sales were even with the year ago quarter, below our expectations as a result of continued softness in North America and challenges in Asia Pacific. Despite this, we are encouraged by another quarter of strong organic sales growth in Latin America and the return to positive organic sales growth at Hill's. Colgate's leadership of the global toothpaste market continued during the quarter with its global market share now at 43.6% year to date. Our global leadership in manual toothbrushes also continued with Colgate's global market share in that category now at 32.8% year to date."

06:53 EDT MVC Capital commences Dutch tender offer for up to $15M - MVC Capital commenced a modified "Dutch Auction" tender offer to purchase up to $15M of its common stock at a price per share not less than $10.00 and not greater than $11.00 in 20c increments. The Tender Offer will expire on August 18, unless extended. If the Tender Offer is fully subscribed, MVC will purchase between 1,500,000 shares and 1,363,636 shares, or between 6.6% and 6.0%, respectively, of MVC's outstanding shares of its common stock. Based on the number of shares tendered and the prices specified by the tendering stockholders, MVC will determine the lowest per-share price that will enable it to acquire up to $15M of its common stock.

06:38 EDT Synchrony reports Common Equity Tier 1 ratio 17.2% - The estimated Common Equity Tier 1 ratio under Basel III subject to transition provisions was 17.4% and the estimated fully phased-in Common Equity Tier 1 ratio under Basel III was 17.2%.

06:37 EDT Synchrony reports Q2 net interest margin up 26 bps to 16.2% - Return on assets was 2.2% and return on equity was 13.8%. Net interest margin increased 26 basis points to 16.20%. Efficiency ratio was 30.1%, compared to 31.9% in the second quarter of 2016, driven by strong positive operating leverage.

06:34 EDT General Electric reports Q2-end backlog of $327B, up 2% y/y

06:33 EDT Citizens Financial raises quarterly dividend 29% to 18c from 14c per share - The dividend is payable on August 16 to shareholders of record at the close of business on August 2.

06:31 EDT General Electric sees cash flow to continue to improve throughout the year

06:18 EDT Facebook exploring 'modular' hardware device - A patent application published by Facebook on Thursday details a "modular electromechanical device" that can incorporate a speaker, microphone, touch display, GPS, and even function as a phone. Reference Link

06:15 EDT Johnson Controls' GLAS smart thermostat comes with Microsoft's Cortana - Johnson Controls (JCI) has unveiled a smart thermostat that comes with Microsoft's (MSFT) Cortana voice assistant built in. The company showed off the thermostat, dubbed GLAS, in a short video posted on YouTube this week. Reference Link

06:09 EDT SunTrust reports Q2 total revenue-FTE $2.27B vs. $2.25B last year

06:08 EDT AB InBev confirms acquisition of Hiball, Alta Palla; terms not disclosed - Anheuser-Busch announced its acquisition of Hiball, maker of the organic energy drinks and sparkling energy waters by the same name, as well as Alta Palla, a brand of organic sparkling juices and sparkling waters. Hiball's success in the energy and sparkling water categories - two of the fastest-growing categories in the beverage industry - will further deepen A-B's investments in the no-alcohol sector. Hiball Energy and Alta Palla, Hiball's two signature brands, will benefit from Anheuser-Busch's brand-building experience, its amazing wholesaler network, and its operational expertise. A-B and Hiball expect to close this transaction in the third quarter of this year. The terms of the deal were not disclosed.

05:27 EDT BrainStorm awarded $16M non-dilutive grant from CIRM - Brainstorm Cell Therapeutics announced that the California Institute for Regenerative Medicine, or CIRM, has awarded Brainstorm a grant of $16M to support the pivotal Phase 3 study of NurOwn, for the treatment of amyotrophic lateral sclerosis, or ALS. The grant from CIRM is a significant endorsement of the potential for Brainstorm's novel approach to treat ALS using adult stem cells. CIRM is the World's Largest Institution Dedicated to Cell Therapies.