Stockwinners Market Radar for July 24, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:43 EDT SRC Energy says 36 gross wells seen adding to production in 2H - SRC continues to execute its drilling and completion program resulting in robust growth of 84% quarter-over-quarter as well performance remains at, or above, the company's projections. Growth and product mix in the first half of the year largely resulted from the 22 gross Evans wells plus the eight gross Weideman wells. All 30 wells have now surpassed 90 days of production and the averages by lateral length. Looking forward, the company has 36 gross wells that are expected to be turned to sales in the third quarter which should contribute to the Company's continuing production growth profile in the second half of 2017. Oil as a percentage of total production should increase through the balance of the year as the Company's activities during this period are near the Weideman pad, which has demonstrated a greater percentage of oil from initial production.

17:48 EDT IBM granted patent to protect cryptographic keys and codes - IBM announced that its engineers have been granted a patent on an approach for utilizing the inherent structure of a printed circuit board, or PCB, to protect cryptographic keys and codes in a manner that is designed to be highly tamper-resistant. The invention could help protect keys and codes that encrypt data stored on any platform whether your data is in the cloud or an enterprise storage system. IBM was granted U.S. Patent 8,938,627: Multilayer securing structure and method thereof for the protection of cryptographic keys and code for this invention.

17:46 EDT Camping World acquires American RV in Gran Rapids, Michigan - Camping World Holdings announced plans for continued rapid expansion of RV dealerships, with the acquisition of American RV located in Grand Rapids, Michigan. Camping World currently operates a SuperCenter in Houghton Lake and retail accessory stores in both Belleville and Grand Rapids, Michigan.

17:37 EDT Alphabet says seeing diverse base of customers in Cloud

17:32 EDT Air T receives Nasdaq notice letter - Air T announced that it has received an anticipated letter from the Listing Qualifications Department of The NASDAQ Stock Market notifying the company of its noncompliance with NASDAQ Listing Rule 5250c1 because the company has not yet filed its Annual Report on Form 10-K for the year ended March 31, 2017.

17:28 EDT NextDecade closes business combination - NextDecade, formerly Harmony Merger, announced that its business combination with NextDecade, has closed. NextDecade's common stock will now trade on the NASDAQ under the new ticker symbol "NEXT." As a result of the business combination closing, new CUSIP numbers of 65342K 105 and 65342K 113 have been assigned to NextDecade's common stock and warrants. Information regarding the transaction is available from NextDecade's definitive proxy statement filed with the SEC on June 29.

17:27 EDT Stanley Black & Decker opens Breakthrough Innovation center in Boston - Stanley Black & Decker announced the opening of a new Breakthrough Innovation center in Boston dedicated to advancing technological innovation in the company's Stanley Security business. The Stanley Security Futures Innovation Factory is the company's 11th Innovation Center globally and will initially employ approximately 20 people in Boston's Seaport District. "We recognize that technological innovation is changing the world at an exponentially accelerating pace and that being at the forefront of disruption is essential to success," said Jim Loree, Stanley Black & Decker's president and CEO. "Today marks the opening of the company's 11th breakthrough innovation center around the globe and this team in Boston will be dedicated to ensuring that we develop the most innovative solutions in the security space."

17:19 EDT Lockheed Martin awarded $119.6M government contract modification - Lockheed Martin Rotary and Mission Systems, Manassas, Virginia, is being awarded a $119,651,946 cost-plus-incentive-fee and cost-only modification to a previously awarded contract to exercise an option for engineering services and support of the Integrated Submarine Imaging Systems program. Work is expected to be completed by September 2018. Fiscal 2017 other procurement ; 2013, 2014, 2016, and 2017 shipbuilding and conversion; and 2017 research, development, test and evaluation funds in the amount of $27,924,393 will be obligated at time of award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, District of Columbia, is the contracting activity.

17:16 EDT Alphabet's Porat says mobile search and YouTube were biggest growth drivers

17:05 EDT J.C. Penney names Jeffrey Davis as CFO, effective July 24 - J. C. Penney (JCP) announced that Jeffrey Davis is joining the company as executive vice president and CFO, effective July 24. He will succeed Andrew Drexler, who has been serving as interim CFO while the company completed its search. Davis will report to Marvin R. Ellison, chairman and CEO of J.C.Penney. Davis most recently served as chief financial officer at Darden Restaurants (DRI), overseeing finance and accounting, corporate reporting, tax, internal audit, treasury and investor relations. He also maintained oversight of Darden's real estate acquisitions, as well as the company's restaurant development.

17:02 EDT Merck: Phase 3 KEYNOTE-040 trial of KEYTRUDA did not meet primary endpoint - Merck announced that the pivotal phase 3 KEYNOTE-040 trial investigating KEYTRUDA, the company's anti-PD-1 therapy, in previously treated patients with recurrent or metastatic head and neck squamous cell carcinoma did not meet its pre-specified primary endpoint of overall survival (HR, 0.82 [95% CI, 0.67-1.01]; p = 0.03 [one-sided]). The safety profile observed in KEYNOTE-040 was consistent with that observed in previously reported studies of KEYTRUDA; no new safety signals were identified. In August 2016, the U.S. FDA approved KEYTRUDA for the treatment of patients with recurrent or metastatic HNSCC with disease progression on or after platinum-containing chemotherapy. The current indication remains unchanged and clinical trials continue, including KEYNOTE-048, a phase 3 clinical trial of KEYTRUDA in the first-line treatment of recurrent or metastatic HNSCC.

16:59 EDT Team expects an improved market environment by FY18 - The company said, "While our recent results continue to disappoint us, we remain optimistic about our future. We believe that the soft end market environment for maintenance and turnaround spending by our customers is unsustainable and fully expect a much improved market environment by 2018. We continue to target the end of 2017 for the completion of the North American enterprise resource planning implementation, the completion of the integrations of the Qualspec and Furmanite acquisitions, as well as the completion of several performance improvement initiatives that are underway, all of which are integral to the realization of our long-term performance goals."

16:57 EDT Team expects to record $4M-$6M in severance charges during Q3 - The company said, "We are disappointed in our Q2 results as we continue to operate in a sluggish demand environment due to continuing soft end markets coupled with customer spending deferrals," said Ted Owen, Team's CEO. "While we continue to see some improvement in our Quest Integrity and TeamQualspec inspection and assessment businesses, TeamFurmanite's mechanical services business continues to lag behind in the recovery cycle, resulting in weaker than expected 2017 results. "Because of the ongoing weak and uncertain macro environment in the industries in which we operate, Team has and will continue to take direct actions to reduce the overall cost structure of the Company. In addition to reducing discretionary spending, we are faced with the unfortunate, but necessary decision to eliminate certain employee positions. The resulting severance charges, which will be recorded in the Q3 are expected to be approximately between $4M-$6M. The actions being taken are expected to ultimately reduce the Company's annual operating expense run rate by approximately $30M and will impact operating results beginning in the Q3" Owen added.

16:51 EDT Justin Mateen reports 18.8% stake in Match Group

16:35 EDT Novavax trading resumes

16:34 EDT Agilent acquires Population Genetics portfolios, terms not disclosed - Agilent Technologies announced that it has acquired the molecular and sample barcoding patent portfolios of Population Genetics Technologies. Founded in 2005, Population Genetics was formed to commercialize the intellectual property portfolio of Nobel Laureate Sydney Brenner focused on high sensitivity and high specificity Next Generation Sequencing detection. In 2015, Population Genetics became an IP holding entity with over 30 patents. Financial terms of the purchase were not disclosed.

16:29 EDT Werner sees Q3 gains on sales of trucks and trailers to be minimal - Werner said in a statement: "As previously disclosed, in fourth quarter 2016, due to the weak used truck market, we reduced the estimated life of certain trucks to more rapidly depreciate the trucks to their residual values. This change resulted in additional depreciation expense in fourth quarter 2016 of $4.1 million, in first quarter 2017 of $2.6 million and in second quarter 2017 of $0.7 million. We nearly completed the sale of these specific trucks in second quarter 2017, therefore we do not anticipate the additional depreciation expense for the remaining trucks to be significant in third quarter 2017. Because we will be selling trucks in third quarter 2017 with a higher book value per truck than those trucks that were sold in second quarter 2017, we expect gains on sales of trucks and trailers to be minimal in third quarter 2017."

16:26 EDT Sanmina down 9% after Q3 results, Q4 guidance trail estimates - In after-hours trading, shares are down 9.3% to $38.50.

16:20 EDT Quanex promotes George Wilson to COO - Quanex Building Products Corporation announced that it has promoted George Wilson to Chief Operating Officer, effective August 1. In this newly created position, Wilson will be responsible for the company's U.S. and International operations, reporting directly to CEO Bill Griffiths. Prior to this promotion, Wilson served as President - Insulating Glass Systems since 2011.

16:19 EDT Bristol-Myers says FDA accepts sBLA to update Opdivo dosing - Bristol-Myers Squibb announced that the U.S. Food and Drug Administration accepted its supplemental Biologics License Applications to update Opdivo dosing to include 480 mg infused over 30 minutes every four weeks for all currently approved monotherapy indications. The applications are under review with an action date of March 5, 2018.

16:16 EDT Mercury Systems receives $8.5M follow-on order - Mercury Systems announced it received an $8.5M follow-on order from a leading defense prime contractor for high density secure memory devices for integration into the computing systems of an advanced military avionics program. The order was booked in the company'sQ4 and is expected to be shipped over the next several quarters.

16:14 EDT Novavax: E205 increases magnitude, duration quality of RSV F immune response - Novavax announced positive topline data from its Phase 2 safety and immunogenicity trial of the RSV F Vaccine in older adults, new preclinical data on its RSV F Vaccine construct, additional findings from the prior Phase 2 and Phase 3 clinical trials in older adullts, and an operational update on the Phase 3 clinical trial of the RSV F Vaccine for infants via maternal immunization, known as Prepare. The Company anticipates initiating a Phase 2 efficacy trial in older adults in 2018. Topline data from the Phase 2 older adult safety and immunogenicity trial demonstrate the benefit of adjuvant formulations and two-dose regimens. The objective of the Phase 2 randomized, observer-blinded, placebo-controlled trial was to assess safety and immunogenicity of one and two-dose regimens of the RSV F Vaccine, with and without aluminum phosphate or Novavax' proprietary Matrix-M adjuvant, in 300 older adults. Participants were enrolled and vaccinated outside of the RSV season to best assess immunogenicity of the treatment arms. Immunogenicity outcomes indicate both aluminum phosphate and Matrix-M adjuvants significantly increased the magnitude, duration and quality of the immune response relative to a control of 135 microgram dose of the RSV F antigen alone. Similarly, two-dose regimens significantly increased immune responses and suggests two doses of the RSV F Vaccine with adjuvant may augment durability of the immune response to the vaccine. The data strongly support the inclusion of adjuvanted formulations of the RSV F Vaccine in future older adult trials. All formulations and regimens were safe and well-tolerated.

16:11 EDT Alphabet says $2.74B EC fine accrued in Q2 - On June 27, the EC announced its decision that certain actions taken by Google regarding its display and ranking of shopping search results and ads infringed European competition law. The EC decision imposes an approximately $2.74B fine, which the company accrued in the second quarter of 2017. The fine is included in "accrued expense and other current liabilities" on its Consolidated Balance Sheet, Alphabet noted in its earnings press release.

16:10 EDT Sanmina names Gerry Fay as Chief Business Officer - Sanmina announced Gerry Fay will join Sanmina's management team as Executive Vice President and Chief Business Officer effective July 27. Fay will have responsibility for business and corporate development, quality, procurement, engineering, marketing and product groups.

16:07 EDT Anika Therapeutics says Monovisc approved in India - Anika Therapeutics announced that regulatory authorities in India granted approval to MONOVISC, its single injection viscosupplement for the treatment of pain associated with osteoarthritis of all human synovial joints. MONOVISC is commercially available in the United States, Canada and Europe, and Anika plans to expand into India, Australia, New Zealand and additional international markets over the next six to nine months. "Expanding our global commercial footprint is one of our key strategic pillars of growth, and the approval of MONOVISC in India is a proof point for our ability to execute against the benchmarks we define each year," said Charles H. Sherwood, Ph.D., President and Chief Executive Officer of Anika Therapeutics. "There is a growing demand for non-invasive, long-acting treatments for osteoarthritis in emerging countries such as India where knee replacement surgery is often the last option or not an option at all, due to limited medical resources outside major cities and high costs of surgery and postsurgical care. With its ability to safely relieve pain for up to six months with fewer office visits, lower treatment costs and no downtime after treatment, MONOVISC is poised to be well-received by physicians and patients in India."

16:06 EDT Farmers National Banc receives regulatory approvals for Monitor Bancorp deal - Farmers National Banc Corp. announced that it has received regulatory approvals, including approval from The Federal Reserve Bank of Cleveland and the Office of the Comptroller of the Currency, necessary to complete the proposed merger of Monitor Bancorp, Inc. with and into FMNB Merger Subsidiary II, LLC, a newly-formed wholly-owned subsidiary of Farmers, pursuant to the Agreement and Plan of Merger dated as of March 13, 2017 by and among Monitor, Merger Sub and Farmers, and the related merger of Monitor's wholly-owned subsidiary bank, The Monitor Bank, with and into Farmers National Bank. Subject to the approval of the Merger by the shareholders of Monitor, and the satisfaction of other customary closing conditions contained in the Merger Agreement, the Merger is expected to be completed during the third calendar quarter of 2017.

16:05 EDT Bridgeline Digital announces 1-for-5 stock split - Bridgeline Digital announced that it will effect a one-for-five reverse stock split previously approved by the company's board and its stockholders at the company's annual meeting held on June 29. The one-for-five reverse stock split will be effective as of close of business on July 24 and the company's stock will begin trading on a split-adjusted basis on July 25.

16:02 EDT American Campus backs FY17 FFOM $2.32-$2.42

16:01 EDT Americas Silver reports Q2 consolidated silver output about 558,000 ounces - Reports Q2 silver equivalent production 1.2M ounces. "I am very pleased with the Company's overall performance in the second quarter", said Darren Blasutti, President & CEO of Americas Silver. "Silver production met expectations, we lowered our costs substantially over last year and last quarter, we had tremendous exploration success at both mines and made significant progress at the San Rafael project for its first production before the end of the third quarter."

15:44 EDT Malcolm Fairbairn reports 5.4% passive stake in Digimarc

14:59 EDT Telecom Italia board approves settlement agreement with CEO - TIM informs that the board of directors has approved by majority a settlement agreement regulating the termination, as of July 28, of Mr. Cattaneo's mandate as Chief Executive Officer, also member, as such, of the Strategic Committee, and from the relationship as General Manager, effective July 31. The agreement provides for the payment to Cattaneo, at the termination, of EUR 22.9M gross as settlement payment referred to the amounts due to Cattaneo based on his contract with the company. The board of directors started the plan for the succession of the CEO that, with the support of the Appointments and Remuneration Committees, will be subjected to further resolutions by the board at a meeting already called on July 27.

14:19 EDT Foot Locker, Under Armour slide following Hibbett Sports profit warning - Shares of Foot Locker (FL) and Under Armour (UA) are sliding after Hibbett Sports (HIBB) provided negative preliminary results for the second quarter. Commenting on the news, Raymond James analyst Dan Wewer added that the read through is negative not only for Hibbett's vendors but also appears negative for Dick's Sporting Goods (DKS). PRELIMINARY RESULTS: Hibbett Sports has provided preliminary results for the second quarter ended July 29, stating that based on "very challenging sales trends," comparable store sales are expected to decrease approximately 10% for the second quarter. The company, which also and announced the launch of its new e-commerce site this morning, added that the decline in sales, along with significant pressure on gross margin, is expected to result in a loss of (19c) to (22c) per diluted share for the quarter. NEGATIVE READ-THROUGH: In a research note to investors, Raymond James' Wewer noted that Hibbett's same-store sales warning follows Finish Line's (FINL) first quarter release on June 23 that May sales suffered from weak consumer traffic and difficult product launch comparisons. The read through is negative for Hibbett's vendors, including Under Armour (UAA), said Wewer. While the analyst acknowledged that he is not sure if Hibbett's sales trends were company specific or reflective of the industry, he said the preannouncement also appears negative for Dick's. Meanwhile, Stifel analyst Jim Duffy told investors in a research note of his own that Hibbett's release is symptomatic of difficult retail trends in North America. While the analyst noted he sees negative comparable sales as a structural challenge to the retail business, he does expect poor second quarter performance to set up for an easy compare in the second quarter of 2018. Nonetheless, Duffy pointed out that the e-commerce launch timing is welcome ahead of back-to-school, providing a revenue benefit at lower operating margins near-term. He reiterated a Hold rating on Hibbett's shares. Voicing a similar opinion, his peer at SunTrust noted that Hibbett's profit warning was just the latest data point showing a lack of sector vitality right now. Fashion shifts, macro sluggishness and e-commerce shifts are all playing a role, analyst David Magee contended. Furthermore, the analyst pointed out that he does not think the sector weakness is confined to the company in what is usually a seasonally challenging period. Magee also reiterated a Hold rating on Hibbett. PRICE ACTION: In afternoon trading, shares of Hibbett have dropped about 31% to $13.52, while Foot Locker and Under Armour have slipped about 4% and 2%, respectively. Dicks Sporting Goods has also slid almost 6% to $35 per share.

13:42 EDT Alphabet names Google CEO Sundar Pichai to board - Alphabet announced it has appointed Sundar Pichai to its board of directors. Pichai is the CEO of Google Inc. His appointment was effective July 19, 2017. "Sundar has been doing a great job as Google's CEO, driving strong growth, partnerships, and tremendous product innovation. I really enjoy working with him and I'm excited that he is joining the Alphabet board," said Larry Page, CEO of Alphabet.

12:41 EDT U.K.'s SFO opens investigation into Rio Tinto - The U.K.'s Serious Fraud Office has opened an investigation into suspected corruption in the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and others associated with it.

12:33 EDT Columbus Capital reports 9% passive stake in Digital Turbine

12:23 EDT Morningstar and Sustainalytics expand collaboration - In a continuing and growing commitment to helping investors integrate sustainability considerations into portfolio decisions, Morningstar and Sustainalytics, a leading global provider of environmental, social, and governance, ESG, research and ratings announced that Morningstar has acquired a 40% ownership stake in Sustainalytics. The direct investment represents an important milestone in Morningstar's long-term sustainability strategy and intends to support Sustainalytics' ability to deliver high-quality, innovative ESG products and services to the global investment community. In August 2015, the two firms announced a strategic collaboration that resulted in the March 2016 launch of the Morningstar Sustainability Rating for global mutual and exchange-traded funds. The ratings, which now cover more than 35,000 mutual funds and ETFs, use Sustainalytics company-level ESG research, allowing investors to gauge how well companies held in their funds are managing ESG issues. The Sustainability Rating is available in Morningstar DirectSM, Direct Cloud, Morningstar OfficeSM, Advisor WorkstationSM, 15 global Morningstar websites, and Data Feeds. Building upon the Sustainability Rating and its work with Sustainalytics, in October 2016 Morningstar launched the Global Sustainability Index Family, a series of 27 global equity indexes designed to provide a standard for sustainability investing. In addition, Morningstar released company-level ESG metrics for the holdings of 35,000 mutual funds and ETFs and Morningstar Portfolio Sustainability Reports in April 2017, and a tool that enables investors to screen portfolios for various ethical issues in June 2017.

11:56 EDT Sypris Solutions awarded new contracts from Harris - Sypris Electronics, a subsidiary of Sypris Solutions (SYPR), announced that it has recently received multiple contract awards from Harris Corporation (HRS) to manufacture a variety of mission-critical electronic assemblies for a number of U.S. Government programs, including the U.S. Military and Space programs. Terms of the agreements were not disclosed. The awards from Harris include the production of electronic assemblies for the following mission-critical Space and U.S. Military programs: A satellite program that is designed to track the early development of storms, with production scheduled to start during 2017. A satellite program that will be used to collect atmospheric data to enhance both short-term and long-term weather forecasting accuracy, with production also slated to start in 2017. A U.S. missile warning system, with shipments planned to begin during 2H17. A U.S. military weapons system, with deliveries scheduled to begin in 1H18.

11:20 EDT Goldman Sachs gets second downgrade after earnings - Shares of Goldman Sachs (GS) are sliding after UBS analyst Brennan Hawken downgraded the stock to Neutral as he has "limited confidence" in a revenue recovery. Last week, his peer at Keefe Bruyette also cut the stock's rating to Market Perform, citing his view of its weakening revenue outlook following the investment bank's second quarter results. MOVING TO THE SIDELINES: In a research note to investors this morning, UBS' Hawken downgraded Goldman Sachs to Neutral from Buy and cut his price target on the shares to $230 from $255 as the market seems to be pricing an inflection in their FICC revenues despite the recent weakness, suggesting a recovery is needed to justify 2018 consensus. While the analyst recognized recent weak results could rebound, he believes a recovery in trading revenues would need to be substantial as he estimates a roughly 25% rebound in FICC revenues is implied in 2018 consensus estimates. Further, trading could rebound but that has not happened over the past year for Goldman Sachs absent a surprise event such as Brexit or the Trump election, Hawken argued, adding that he has difficulty relying on such an event to justify a bullish thesis. The analyst told investors there are "better opportunities," such as Morgan Stanley (MS). On July 19, Keefe Bruyette analyst Brian Kleinhanzl had also downgraded Goldman Sachs to Market Perform from Outperform, while lowering his price target on the shares to $230 from $260. The analyst told investors in a research note of his own that he does not expect his previous Outperform thesis for a materially better revenue outlook to emerge near-term, partially due to market activity and partially due to weak performance by the company. Kleinhanzl pointed out that Goldman Sachs has become a "show-me stock," and it would need to consistently outperform in FICC trading for more than one quarter in order for the analyst to become more constructive. WHAT'S NOTABLE: Last week, Goldman Sachs reported second quarter earnings per share of $3.95 and revenue of $7.89B, both above consensus of $3.39 and $7.52B. The company also said that net revenues in Fixed Income, Currency and Commodities Client Execution were $1.16B for the second quarter, 40% lower than the second quarter of 2016, due to significantly lower net revenues in interest rate products, commodities, credit products and currencies, partially offset by higher net revenues in mortgages. PRICE ACTION: In late morning trading, shares of Goldman Sachs have dropped 0.5% to $219 per share. Since the morning of its earnings report on July 18, Goldman shares have slid over 4%.

11:01 EDT Boeing Global Services forecasts 1.2M pilots, technicians needed by 2036 - Boeing released its 2017 Pilot and Technician Outlook today at EAA AirVenture Oshkosh and projects a demand for more than 1.2 million pilots and technicians over the next 20 years. Boeing forecasts that between 2017 and 2036, the world's commercial aviation industry will require approximately: 637,000 new commercial airline pilots; 648,000 new commercial airline maintenance technicians; 839,000 new cabin crew members. The 2017 outlook shows a slight increase of 3.2% for pilots over the 2016 outlook, and a slight decrease in the need for airline maintenance technicians of 4.6%, primarily driven by the reduction in maintenance hours required on the 737 MAX.

10:43 EDT Goldman, seeing weaker beer trends, downgrades two brewers - Goldman Sachs downgraded two beer makers, Boston Beer (SAM) and Constellation Brands (STZ), citing weakening U.S. beer consumption data. The firm downgraded Boston Beer to Sell from Neutral and cut Constellation to Neutral from Buy. Additionally, it took Constellation off its Conviction List. DATA, OUTLOOK: Overall U.S. beer volumes dropped 0.6% in the first half of 2017, reported Goldman analyst Judy Hong. The analyst lowered her 2017 U.S. beer forecast to a decline of 0.7% in 2017, versus her previous outlook for a flat year. She lowered her 2018 forecast to a 0.3% decline from her previous estimate of a 0.1% increase. Hong said that most of the downward adjustments in her forecasts were triggered by her belief that the domestic and craft beer segments have weakened. Imported beer volumes are still growing at a "healthy" rate, she stated. NEGATIVE CATALYSTS: Demographic trends are turning less favorable for alcohol consumption, as there are fewer young people starting to drink and more Baby Boomers are curtailing their drinking, according to Hong. Moreover, beer has lost share to wine and spirits as younger people abandon the drink and spirits prices have moved closer to beer costs, Hong reported. BOSTON BEER: There is "no improvement in sight" for the company's Sam Adams and Angry Orchard brands, warned Hong. The company's fiscal 2017 volume guidance will probably miss expectations, and its volumes will likely decline in 2018, she predicted. As a result, she lowered her 2017 and 2018 EPS estimates for the company by 4% and 9%, respectively. Hong added that her 2018 EPS estimate for the company is now 13% below the consensus outlook, and she set a $110 price target on the stock. CONSTELLATION: Hong noted that Constellation's stock has climbed recently and the analyst says that the company's margin gains will be limited by the recent appreciation of the Mexican peso. Hong trimmed her price target on the stock to $210 from $212. PRICE ACTION: In morning trading, Boston Beer dropped nearly 5% to $130.55 and Constellation slid 1% to $196.50 per share.

10:33 EDT Blue Apron rises after underwriter Goldman Sachs says buy - Shares of Blue Apron (APRN) are moving higher after several analysts initiated coverage of the stock with buy-equivalent ratings, including Goldman Sachs, one of the underwriters on the company's IPO. The rollout of coverage of the stock on Wall Street follows last week's news that Amazon (AMZN) appears to be eyeing the meal kit business. Earlier this month, Northcoast had started Blue Apron with a Sell rating. BUY BLUE APRON: In a research note to investors this morning, Goldman Sachs analyst Heath Terry started Blue Apron with a Buy rating and a $11 price target, saying he views it as the leading investment in a largely venture stage category that has reached the stage of hyper-competition typical of early stage, fast-growing consumer internet opportunities. While this kind of overinvestment and the competitors it creates drives near-term customer acquisition costs and churn higher and growth rates lower, as competition normalizes he sees Blue Apron maintaining its lead in a larger category with more rational economics. Moreover, Terry noted that the risk, high as it is at this stage, is more than offset by the potential reward. His peer at Stifel also initiated coverage of Blue Apron with a Buy rating and a $10 price target as he believes the young company has built a "sophisticated, technology-driven supply chain and logistics network" which should support its leading position in the crowded meal kit company landscape. Analyst Scott Devitt added that he believes current share levels price the company for underperformance relative to plan and offer a "reasonable entry point" for ownership. Meanwhile, Canaccord analyst Michael Graham also initiated Blue Apron with a Buy rating and a $14 price target, citing similar reasons. The analyst told investors that competitive moves from Amazon and investor concerns around customer retention have put significant pressure on the stock both before and after IPO pricing, and he believes this has created a "bargain opportunity." RBC Capital, SunTrust and Oppenheimer also initiated coverage of Blue Apron this morning with buy-equivalent ratings. STAYING ON THE SIDELINES: Not all Wall Street analysts were as bullish on Blue Apron. This morning, Morgan Stanley analyst Brian Nowak initiated the stock with an Equal Weight and a $7.50 price target saying he expects competition, churn and customer acquisition costs to limit the pace of its ability to profitably scale. Meanwhile, Barclays analyst Ross Sandler initiated coverage of Blue Apron with an Equal Weight rating and $7 price target, saying his concerns over revenue deceleration and erosion in unit economics "have increased meaningfully" since last week's soft launch by Amazon in meal kits. Raymond James also started the stock with a Market Perform rating this morning. WHAT'S NOTABLE: Goldman Sachs, Morgan Stanley, Citi and Barclays acted as joint book running managers for Blue Apron's initial public offering on June 29. AMAZON WORRIES: Last week, a media report said Amazon had filed a trademark that makes it appear the e-commerce giant is getting into the meal kit business. This followed Northcoast's coverage initiation of Blue Apron with a Sell rating and a $2 price target. Back on July 11, analyst Chuck Cerankosky had pointed out that the company faces considerable competition, not the least of which is the emerging focus at certain conventional supermarkets to sell meal kits. Blue Apron is not a technology company just because orders are received digitally, Cerankosky noted, adding that the company's cost structure has a very high labor content due to the need to hand assemble various food ingredients for each order into boxes that include ice packs, alongside shipping costs. PRICE ACTION: In morning trading, shares of Blue Apron have jumped 11.5% to $7.30. Blue Apron opened at $10 per share and closed at $10.02 on June 29 following its IPO that morning.

09:47 EDT Eltek halted for volatility after jumping 70c to $1.32

09:38 EDT Yatra says would look at M&A if it maximizes shareholder value - Yatra Online says it will buy Air Travel Bureau for a total purchase price of $22.5M-$27.5M. Sees Air Travel Bureau as a "fairly accretive" transaction. Yatra says there is no breakup fee in conjunction with the ATB acquisition. Commenting on whether Yatra would consider an acquisition offer, the company said "At the end of the day, our role as managers and as significant shareholders ourselves is to maximize shareholder value. And if and when the opportunity does come, we will look at it from that lens." Comments taken from Yatra Online's conference call discussing its acquisition of Air Travel Bureau. Yatra Online is up 8% to $11.92 in morning trading.

09:36 EDT Halliburton says will build new frack gear 'with discipline' - Says plans to give workers raises starting in Q3. Says expects to reach normalized margins in 2018.

09:34 EDT Oxford Immunotec appoints Richard Wenstrup, MD, as Chief Medical Officer - Oxford Immunotec announced the appointment of Richard Wenstrup, MD, as Chief Medical Officer. Prior to joining Myriad Genetics, Dr. Wenstrup served as a tenured Professor of Pediatrics at Cincinnati Children's Hospital Medical Center and as a tenured Professor of Biomedical Engineering at the University of Cincinnati.

09:30 EDT Halliburton says received all payments required in Venezuela note

09:29 EDT Home Bancshares raises dividend to 11c per share from 9c per share - Home BancShares announced that its board has declared a regular 11c per share quarterly cash dividend payable September 6, to shareholders of record August 16. This cash dividend represents a 2c per share, or 22.2%, increase over the 9c cash dividend paid during Q2.

09:27 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Halliburton (HAL), up 2.3%... PetMed Express (PETS), up 5.6%... Arconic (ARNC), up 1.9%... V F Corp (VFC), up 1.4%. ALSO HIGHER: WebMD (WBMD), up 19.7% after announcing it will be acquired by KKR (KKR) in a $2.8B deal for $66.50 per share... Pandora (P), up 4.5% after Morgan Stanley's sales desk stated that activist investor JANA Partners has revealed in its latest letter to investors that it took a stake in the company in June... Philips (PHG), up 4.1% after announcing a new EUR 1.5B share buyback program. DOWN AFTER EARNINGS: Stanley Black & Decker (SWK), down just under 1%... Hasbro (HAS), down 3.8%. ALSO LOWER: Hibbett Sports (HIBB), down 23.6% after announcing that it expects second quarter same-store sales down 10%... Constellation Brands (STZ), down 1.6% after being downgraded to Neutral from Conviction Buy at Goldman Sachs... Goldman Sachs (GS), down marginally after being downgraded to Neutral from Buy at UBS.

09:22 EDT VF Corp. says Amazon 'an important customer'

09:19 EDT Halliburton says frack demand has outpaced supply of frack gear - Says pressure pumping gear sold out for Q3. Says saw first decline in sand pumped per well in Q2.

09:16 EDT Terreno Realty acquires Compton, California property for $9.4M - Terreno Realty Corporation acquired an industrial property located in Compton, California on July 21, 2017 for a purchase price of approximately $9.4M. The property consists of one rear-load industrial distribution building containing approximately 58,000 square feet on 3.0 acres. The property is at 1215 W Walnut Street, adjacent to CA Route 91 between Los Angeles International Airport and the Ports of LA and Long Beach, provides eight dock-high and one grade-level loading positions, parking for 68 cars and is 100% leased to one tenant. The estimated stabilized cap rate of the property is 5.2%.

09:16 EDT CF Industries names Arch Coal CEO John Eaves to board - CF Industries Holdings (CF) announced that its Board of Directors has elected John W. Eaves, CEO of Arch Coal (ACI), and Michael J. Toelle, owner of T&T Farms and former board chairman of CHS, Inc (CHSCP), as independent directors of the company. The elections of Eaves and Toelle bring membership of the CF Industries Holdings, Inc. Board of Directors to twelve. They are expected to stand for re-election by stockholders at the company's 2018 Annual Meeting.

09:12 EDT The Deal: Goldman Sachs led M&A during 1H17 - Goldman, Sachs & Co. (GS) led mergers and acquisitions during the first half of 2017, in a period that saw M&A activity in healthcare rise 24% in dollar volume, despite Congress's failure to repeal or replace the Affordable Care Act, according to The Deal, a business unit of TheStreet, Inc. (TST). Healthcare deal volume fell 11% and U.S. M&A was off significantly. This year, a 9% drop in total deals and a decline of 29% in dollar volume compared to 2016. M&A activity in technology recorded the largest M&A decline of 56% in dollar terms from 2016 while deal volume rose 10%. Highlights include: Among investment banks, Goldman, Sachs & Co. came in first with 51 deals. Citigroup (C) was second with 46 deals. JPMorgan Securities LLC (JPM) was third, with 43 deals. Reference Link

09:10 EDT Vantiv selected by Columbia Bank as merchant services partner - Vantiv announced that it has been selected by Columbia Bank to provide its business customers with a full-suite of innovative payments solutions. The multi-year agreement will support Columbia Bank's network of branches in the Northwestern United States. Columbia Bank, a full-service commercial bank, is headquartered in Tacoma, Wash., serving communities in Washington, Oregon and Idaho.

09:06 EDT Citizens Bank names Laura Neenan Fogarty healthcare banking head - Citizens Bank (CFG) announced that Citizens Commercial Banking has hired Laura Neenan Fogarty as head of its national healthcare banking group. Fogarty joins Citizens following a successful 20-year banking career providing solutions to corporate clients, most recently serving as managing director of healthcare corporate banking at Citigroup (C).

09:04 EDT AudioCodes announces distribution agreement with Sumitomo Shoji Machinex - AudioCodes announced that it has entered into a distribution agreement with Sumitomo Shoji Machinex, one of Japan's largest and leading distributors in the communications field. SMX will promote AudioCodes' products and solutions throughout the region with a particular focus on the enterprise unified communications space, including Microsoft's Skype for Business.

09:02 EDT Priceline completes announced acquisition of Momondo Group for $550M - The Priceline Group announced that it has successfully completed its previously announced plan to acquire the Momondo Group in a cash transaction whereby The Priceline Group acquired all outstanding shares of the Momondo Group for approximately $550M. Headquartered in the UK and Copenhagen, with an office in Boston, the Momondo Group businesses will report into KAYAK CEO Steve Hafner.

08:59 EDT VF Corp. says continues to evaluate shape of existing portfolio

08:47 EDT Arconic addresses Grenfell Tower tragedy in earnings results - In its earnings report, Arconic said, "Reynobond PE, one of Arconic's building and construction products, was one component of the overall cladding system installed on Grenfell Tower in London, the site of last month's tragic fire. Our Reynobond products, including Reynobond PE, are permitted to be used in accordance with local codes and regulations in the U.S., UK and other countries around the world. Cladding systems contain various components selected and put together by architects, contractors, fabricators and building owners, and those parties are responsible for ensuring that the cladding systems are compliant under the appropriate codes and regulations. As it relates to Arconic's position in the supply chain, we believe we have been compliant in the sale of our product. Given the tragedy at Grenfell Tower, and out of an abundance of caution as Arconic does not control the ultimate design and installation of the final cladding system, the company announced on June 26th that it would no longer sell the PE product for use in high-rise construction - regardless of the local codes and regulations." CEO David Hess said, "We extend our deepest sympathies to those who have lost so much. Everyone at Arconic continues to keep them in our thoughts. And importantly, we remain committed to supporting the investigations that are seeking an outcome that makes it unlikely that a similar tragedy will ever recur."

08:44 EDT SPI Energy says Nasdaq grants request to extend stay of suspension in trading - SPI Energy announced that the Nasdaq Hearings Panel granted the company's request to extend the stay of the suspension in trading of the company's securities pending a hearing on August 10, 2017, and issuance of a final Panel decision. As previously disclosed, on July 7, 2017, the company appealed to the Panel against the Nasdaq Staff's delisting determination dated June 30, 2017 and the Panel has scheduled a hearing on August 10, 2017. At the hearing, the company must demonstrate its ability to regain compliance with the particular deficiencies cited by the Nasdaq Staff in its delisting determination, as well as its ability to sustain long-term compliance with all applicable maintenance criteria.

08:40 EDT J.C. Penney now accepts Apple Pay at all stores - JCPenney (JCP) has rolled out Apple Pay (AAPL) to all stores nationwide. The company will also make its credit card available on Apple Pay, which allows credit card users to earn shopping points through JCPenney Rewards, the retailer's customer loyalty program.

08:38 EDT Finjan Holdings says oral arguments to be heard at Court of Appeals on Sep. 8 - Finjan Holdings (FNJN), and its wholly-owned subsidiary, Finjan, Inc., announced that oral argument will be heard at the United States Court of Appeals for the Federal Circuit on September 8, 2017, at 10:00 AM ET, in the matter Finjan, Inc. v. Blue Coat Systems.

08:36 EDT Medifast: Take Shape For Life rebrands to OPTAVIA - Medifast announced its Take Shape For Life business has rebranded to OPTAVIA at the largest event in the company's history. Over 4,100 OPTAVIA Coaches and clients assembled in Dallas, Texas last week to find out about the new OPTAVIA business tools and products, and learn how to integrate them into their businesses.

08:34 EDT DelMar Pharmaceuticals: HGRAC approves safety, efficacy study of VAL-083 - DelMar Pharmaceuticals announced that the Human Genetic Resources Administration of China has approved the company's application to initiate a Phase 2 safety and efficacy study of its lead product candidate VAL-083 in newly diagnosed MGMT-unmethylated glioblastoma multiforme. DelMar was required to obtain HGRAC approval because the trial involves analysis of patient's MGMT status as a biomarker for patient selection and enrollment. Results of the trial will be used to guide design of global randomized trials, which if successful, would position VAL-083 as a potential replacement for the current standard-of-care (chemoradiation with temozolomide) for the approximately 2/3 of newly diagnosed GBM patients whose tumors feature MGMT-unmethylated GBM. The trial is expected to open for enrollment in the coming weeks at Sun Yat-sen University Cancer Center in Guangzhou, China under the direction of Professor Zhong-ping Chen, M.D., Ph.D., who serves as chair of the Department of NeuroSurgery/Neuro-Oncology at SYUCC.

08:32 EDT Pfizer says Reflections B7391003 study met primary objective - Pfizer announced that the REFLECTIONS B7391003 study, a comparative, confirmatory safety and efficacy study of PF-06439535 versus Avastin, met its primary objective. PF-06439535 is being developed by Pfizer as a potential biosimilar to Avastin. The trial demonstrated equivalence in the primary endpoint of objective response rate of PF-06439535 versus Avastin, taken in combination with carboplatin/paclitaxel, for the first line treatment of patients with advanced non-squamous non-small cell lung cancer. This latest data announcement represents Pfizer's second proposed oncology biosimilar and the fourth proposed biosimilar pipeline molecule to report positive top-line results within the past year. The Pfizer biosimilars pipeline consists of eight distinct biosimilar molecules in mid to late stage development, and several others in early stage development.

08:31 EDT Luminex receives FDA clearance for ARIES C. difficile Assay - Luminex announced that it has received FDA clearance for the ARIES C. difficile Assay, a moderate complexity, sample to answer test for rapid detection of C. difficile. The ARIES C. difficile Assay detects both toxin A and toxin B, which may reduce the probability of a false negative result from strains that only produce toxin A. This milestone continues the company's track record of a rapid succession of regulatory clearances for assays on the ARIES Systems, such as Bordetella, GBS and Norovirus CE-IVD earlier this year.

08:30 EDT Cytori Therapeutics trading resumes

08:22 EDT Philips announces new EUR 1.5B share buyback program to launch in Q3 - Philips announced that in line with its Capital Allocation policy, which aims at a balanced mix of investments in organic and inorganic growth opportunities, actions to drive balance sheet efficiency and returns to shareholders, the company announced a new EUR 1.5B share buyback program to be launched in the third quarter of 2017. This program will more than offset the share dilution in connection with Philips' long-term incentive programs and dividend in shares.

08:18 EDT Sprint to add 300 jobs in New York, New Jersey - Karen Paletta, Sprint's region president for New York and New Jersey, announced a minimum of 300 jobs will be added throughout both states as a part of Sprint's local retail expansion strategy. Most roles will staff the 43 stores Sprint plans to open in the New York City, Long Island and the lower Hudson Valley and 21 stores across New Jersey this year. Grand opening celebrations will begin July 29. Sprint also is creating jobs and opening new store locations throughout Upstate New York, Rhode Island, Connecticut, Massachusetts and New Hampshire.

08:18 EDT AMAG Pharmaceuticals launches Intrarosa in U.S. - AMAG Pharmaceuticals announced the commercial availability of Intrarosa at pharmacies nationwide, supported by a newly created 137-person women's health sales force. Intrarosa is the first and only FDA-approved, local non-estrogen product for the treatment of moderate to severe dyspareunia, a symptom of vulvar and vaginal atrophy, due to menopause. Intrarosa contains prasterone, an inactive precursor that is converted locally into estrogens and androgens with minimal systemic exposure.1,2 Intrarosa does not carry a boxed warning in its label and has no restrictions on duration of use.

08:16 EDT Western Digital announces four-bits-per-cell technology on 3D NAND - Western Digital announced its development of four bits per cell, X4, flash memory architecture offering on 64-layer 3D NAND, BiCS3, technology. Building on its X4 for 2D NAND technology, the company has now developed X4 for 3D NAND by leveraging its deep vertical integration capabilities. These include silicon wafer processing, device engineering to provide sixteen distinct data levels in every storage node, and system expertise for overall flash management. BiCS3 X4 technology delivers a storage capacity of 768 gigabits on a single chip, a 50% increase from the prior 512 gigabit chip that was enabled with the three bits per cell architecture.

08:12 EDT Duluth Holdings appoints Dave Loretta as CFO - Duluth Holdings announced that Dave Loretta has been appointed Senior Vice President and CFO. Loretta will succeed retiring CFO Mark DeOrio and will assume the role of CFO effective July 24. Prior to joining Duluth Trading, Dave Loretta served four years as President and Chief Financial Officer of Nordstrom Bank.

08:09 EDT Blue Apron up 5% after Goldman, others start with buy ratings - Shares of Blue Apron are moving higher after analysts this morning rolled out research coverage. Among those starting the stock with buy rating equivalents are Goldman Sachs, Canaccord Genuity, SunTrust, Oppenheimer and Stifel. Canaccord's price target is tops at $14. Blue Apron in premarket trading is up 5%, or 33c to $6.88.

08:08 EDT Amerseco selected by U.S. Federal Bureau of Prison for ESPC - Ameresco announced the U.S. Federal Bureau of Prisons has entered into an Energy Savings Performance Contract with Ameresco to implement energy and water conservation measures at the Administrative United States Penitentiary Thomson, located in Thomson, Illinois. The ESPC, valued at $18.9M, is designed to achieve more than $33M in energy and water savings during the performance period of the contract. The ESPC project will upgrade AUSP Thomson's electrical and mechanical systems to increase operating efficiencies. More than 613,000 square feet of correctional buildings and facilities will be addressed by the energy improvements. The project will reduce energy consumption by 53% from the pre-upgrade modeled baseline.

08:07 EDT Lennox sees 'a year of record revenue and profit' - Management said, "Looking ahead for the company overall, we continue to expect strong growth for a year of record revenue and profit, led by the strength in our Residential business. Given the company's first-half performance and outlook for the second half, we are raising the low end of our 2017 guidance for revenue and adjusted EPS from continuing operations, and we plan $75 million more of stock repurchases in the second half of the year."

08:06 EDT Vectrus subsidiary awarded $97M contract by U.S. Air Force - Vectrus Systems, a wholly-owned subsidiary of Vectrus, announced the win of a $97M U.S. Air Force contract to provide base operations support services at Keesler Air Force Base, Mississippi. The firm-fixed-price contract has a potential seven year period of performance and represents new work to Vectrus.

08:06 EDT MabVax Therapeutics board authorizes exploration of strategic alternatives - MabVax Therapeutics announced that following authorization from the Board of Directors, it plans to engage an independent financial advisory firm to assist the company in exploring and evaluating strategic options with the goal of maximizing shareholder value. "We continue to work in earnest to advance our clinical programs and validate our platform technology, including the recent commencement of patient dosing in our Phase 1 MVT-1075 Radioimmunotherapy clinical trial for the treatment of pancreatic, colon and lung cancers, and we remain committed to this continued progression. As part of our ongoing evaluation and prioritization of our portfolio of assets, and in response to inbound inquiries, we plan to engage an industry-leading firm to advise us on potential alternatives and strategies that will have the potential to unlock shareholder value," said David Hansen, MabVax's President and Chief Executive Officer. The financial advisory firm will be assisting the Company in evaluating transaction options currently being considered, which could include the acquisition of MabVax by another company, the sale or divestiture of specific assets, merging with another company, licensing of selected technologies or a combination of selected divestitures followed by a reverse merger. MabVax does not have a defined timeline for the exploration of strategic alternatives and is not confirming that the evaluation will result in any strategic alternative being announced or consummated. The Company does not intend to discuss or disclose further developments during this process unless and until its Board of Directors has approved a specific action or otherwise determined that further disclosure is appropriate.

08:04 EDT Merck announces U.S. launch of Remicade biosimilar Renflexis - Merck (MRK) announced the U.S. launch of RENFLEXIS, a biosimilar of the originator biologic medicine Remicade. RENFLEXIS was approved by the U.S. FDA on April 21 for all eligible indications. RENFLEXIS is the first medicine available in the U.S. under a global biosimilars development and commercialization agreement between Merck and Samsung Bioepis (SSNLF, BIIB). RENFLEXIS will be introduced in the U.S. at a list price of $753.39, representing a 35% discount to the current list price of Remicade, its reference product. Wholesaler acquisition costs do not include discounts that may be paid on the products. The FDA approval of RENFLEXIS was based on Samsung Bioepis' comprehensive data package, including analytical, nonclinical and clinical pharmacokinetic, safety and effectiveness data demonstrating that RENFLEXIS is highly similar to its reference product Remicade, in terms of the safety, purity and potency of the product.

08:03 EDT Novadaq says ISS, Glass Lewis support plan of arrangement with Stryker - Novadaq (NVDQ) announced that both Institutional Shareholder Services, or ISS, and Glass Lewis have recommended that shareholders of NOVADAQ vote FOR the resolution to approve the plan of arrangement pursuant to which Stryker (SYK) has agreed to acquire all of the issued and outstanding shares of Novadaq for $11.75 per share in cash.

07:55 EDT Cytori Therapeutics trading halted, news pending

07:47 EDT Avino Silver & Gold Mines announces production results from Avino property - Avino Silver & Gold Mines announces Q2 production results from its Avino property near Durango, Mexico. Consolidated Production Highlights for Q2 include: silver equivalent production increased by 11% to 698,174 oz; gold production increased by 29% to 1,954 oz; silver production increased by 1% to 386,002oz; and copper production increased by 7% to 1,133,161 lbs. the company added, "We are pleased with the 11% increase in production this quarter compared to the Q2 of last year. The results are higher this quarter compared to the same period last year mainly due to the increased mill availability experienced in the Q2."

07:37 EDT ESSA Pharma waits for more data from EPI-506 trial before deciding on offering - ESSA Pharma provided a further update on its intention to pursue an equity offering. As outlined in its announcement on July 18 the Company had received sufficient investor interest to advance the proposed transaction but was denied conditional approval by financial regulators due to levels of insider and institutional participation. While alternative transaction structures have been identified that may be pursued, additional data is currently being received from the higher dose cohorts in the Phase 1 clinical trial of EPI-506. As a result, the Company intends to delay an offering until after that data can be announced from the ongoing highest dose cohorts.

07:34 EDT Axon wins patent suit shutting down third consecutive CEW infringer - Axon, formerly TASER International, announced the entry of a broad permanent injunction against Florida-based Phazzer Electronics, banning sales of the infringing Phazzer Enforcer CEWs and dart cartridges. The injunction entered Friday by the U.S. District Court for the Middle District of Florida prohibits Phazzer and its officers, agents, employees, and anyone else acting in concert with them, from making, using, offering for sale, selling, distributing, importing or exporting Phazzer CEWs and associated cartridges. Phazzer is further enjoined from dumping its infringing inventory by "donating" CEWs to law enforcement, and from false advertising and comparison to TASER brand products. The Court's Order has clear international consequences since both Phazzer and its U.S. distributors are barred from exporting CEWs or cartridges to fill foreign orders. The injunction also makes clear that nonparties who assist Phazzer in violating the injunction, including specifically Taiwanese CEW manufacturer Sang Min International and Double Dragon Development and Trading Corporation, may be held in contempt of court. Axon's patent (U.S. No. 7,234,262) at issue in the litigation (Case No. 6:16-cv-00366-PGB-KRS) relates to the CEW's data recording of date and time of each trigger operation and duration of the stimulus. The Court found that patent was "valid, enforceable, and infringed by Phazzer." The injunction will remain in effect until the patent expires, and includes any CEW or device not colorably different from the Phazzer Enforcer CEW. The Court expressly found that Phazzer cartridges currently marketed and sold as compatible with TASER brand CEWs embody the protected appearance and constitute infringing products enjoined under its Order. Phazzer was also ordered by the Court "not [to] challenge or continue to challenge the validity or enforceability of the '789 Registration in any manner in any forum, including the USTPO." Accordingly, Phazzer's pending USPTO cancellation action, which was stayed while the litigation ran its course, will be dismissed.

07:30 EDT WebMD trading resumes

07:25 EDT Nektar trading halted, news pending

07:18 EDT Elliott: AkzoNobel has failed to engage with or respond to Elliott - Elliott, the largest shareholder of Akzo Nobel N.V., hereby raises questions related to last week's nomination by Akzo Nobel of a new CEO. Elliott has attempted to have a constructive dialogue with Akzo Nobel in private. However, due to the failure of Akzo Nobel to engage with or respond to Elliott, and having cancelled a recent meeting with Elliott at short notice, Elliott believes the following matters need to be raised publicly. Firstly, Elliott calls on Akzo Nobel to confirm the date when a general meeting of shareholders will be held to vote on the appointment of the nominated CEO, as required by Akzo Nobel's Articles of Association. Elliott also calls on Akzo Nobel to confirm that shareholders will be given the opportunity to add resolutions to the agenda of the next EGM, as required by its Articles of Association. Elliott notes that the current status of the nominated CEO is untenable and raises significant legal and reputational risks for the Company. Any attempts by Akzo Nobel to circumvent the requirements of its constitutive documents would exacerbate the crisis of confidence between Akzo Nobel and its shareholders, further impairing the Company's relationship with its shareholders, which the Enterprise Chamber explicitly instructed Akzo Nobel to repair. Secondly, Elliott calls on Akzo Nobel to use tomorrow's earnings announcement to clarify the views of the nominated CEO and the Supervisory Board on the following matters: Will the separation of the Specialty Chemicals business proceed as previously announced? Will the 2020 targets - which are not considered credible by the market - announced on 19 April be reaffirmed?

07:12 EDT Genocea reports top-line 12-month Phase 2b data for GEN-003 in Genital Herpes - Genocea Biosciences announced positive 12-month top-line data from the Phase 2b clinical trial for GEN-003, its immunotherapy candidate for patients with genital herpes. In this 131-subject Phase 2b clinical trial, GEN-003 reduced the median genital lesion rate versus placebo by 49 percent over the 12 months' post dosing. Importantly, these results were achieved at the Phase 3 dose and expected Phase 3 primary endpoint. Other clinical endpoints for this dose improved or were consistent with previously reported positive data. No changes were observed to the previously established safety profile of GEN-003.

07:10 EDT NXP Semiconductors announces CFO transition - NXP Semiconductors N.V. (NXPI) announced that, effective August 6, CFO Daniel Durn is leaving the company to become the CFO of Applied Materials (AMAT). Concurrently, NXP announced Peter Kelly will return to the role of Executive Vice President and CFO, which he held for over three years, which is complimented by his 30 years of finance experience, including the role of Chief Financial Officer of three public companies. Kelly will continue to retain his responsibilities for Strategy and M&A of NXP.

07:06 EDT Azul appoints John Rodgerson as CEO, Alex Malfitani as CFO - Azul S.A. announced the appointment of John Rodgerson as CEO and Alex Malfitani as CFO, effective immediately. Rodgerson joined Azul in 2008 as one of its founders and was instrumental in the implementation of its successful business plan. Antonoaldo Neves, who has been the president of Azul Linhas Aereas and Corporate Officer of Azul S.A. since 2014 is leaving the airline to become a member of the board of directors of TAP. Alex Malfitani will be replacing Rodgerson as CFO. Malfitani also joined Azul in 2008 as one of the airline's founding members. He has been the head of Azul's loyalty program, TudoAzul, since 2015. Malfitani will serve as head of TudoAzul on an interim basis until a replacement is found.

07:05 EDT Hibbett Sports launches e-commerce site - Hibbett Sports provided preliminary results for the Q2 ended July 29, and announced the launch of its new e-commerce site, www.Hibbett.com. Separately, the company announced the launch of a new, transactional e-commerce website, www.Hibbett.com. The site will provide customers with a robust, user-friendly experience and will have an expansive assortment of footwear, apparel and equipment items to choose from. The site will also be fully integrated with Company stores, including visibility of in-store inventory, the ability to fulfill online orders from stores, the ability to return online purchases in stores, and full integration of the newly enhanced Hibbett Rewards program. Jeff Rosenthal, president and CEO, stated, "Despite the difficult retail environment, the Company remains focused on improving its business for the long term. Launching an e-commerce site has been a key strategic goal for Hibbett, and we took time to invest in our omni-channel infrastructure to do it the right way. Our main objective is to provide a seamless shopping experience for our customers with a platform that will allow us to significantly expand our assortment over time. We have always prided ourselves on convenience, and we believe we can now be top of mind when our customers shop for athletic footwear, apparel, and equipment."

07:04 EDT Reata Pharmaceuticals says bardoxolone showed improved kidney function in trial - Reata Pharmaceuticals reported initial data from the ongoing open-label Phase 2 portion of CARDINAL, a Phase 2/3 trial evaluating bardoxolone methyl in patients with chronic kidney disease, or CKD, caused by Alport syndrome. Based upon these data, the company has initiated screening in the Phase 3 portion of the trial and is planning to launch additional Phase 2 studies in rare renal diseases during the first half of 2018. The Phase 2 portion of the trial enrolled 30 patients, and all patients remain on study. The available data demonstrate that bardoxolone significantly improved kidney function in Alport syndrome patients as measured by estimated glomerular filtration rate. From a mean baseline eGFR of 54.7 mL/min/1.73 m2, available data showed a mean improvement of 6.9 mL/min/1.73 m2 at Week 4, increasing to 12.7 mL/min/1.73 m2 at Week 12. Over 80% of patients demonstrated a clinically meaningful improvement in eGFR of at least 3.0 mL/min/1.73 m2 by Week 8, and the 95% confidence interval at Week 12 was 7.9 mL/min/1.73 m2 to 17.5 mL/min/1.73 m2. The observed treatment effect surpasses the threshold of 3.0 mL/min/1.73 m2 that was the minimum effect size necessary to proceed to the Phase 3 portion of the trial. No serious adverse events have been reported in the trial, and reported adverse events have generally been mild to moderate in intensity. The independent data monitoring committee reviewed all available safety data and voted to recommend opening the Phase 3 portion of the trial.

07:03 EDT VF Corp. reports Q2 inventories up 3%, y/y

07:02 EDT WebMD to be aqcuired by KKR in $2.8B deal for $66.50 per share - WebMD Health (WBMD) and Internet Brands, a KKR (KKR) portfolio company, announced that Internet Brands has entered into a definitive agreement to acquire WebMD in a transaction valued at approximately $2.8B. Under the terms of the agreement, a subsidiary of Internet Brands will commence a tender offer in the next 10 business days to acquire all of the issued and outstanding shares of WebMD common stock for $66.50 per share to be paid in cash upon completion of the transaction. This valuation represents a premium of approximately 30% to WebMD's share price on February 15, the day before WebMD announced that it was commencing a process to explore and evaluate potential strategic alternatives, as well as a premium of approximately 20% over WebMD's closing share price on July 21. The financing for the transaction is fully committed. The WebMD Board of Directors approved the merger agreement. The acquisition is expected to close during the fourth quarter of 2017, subject to the satisfaction of customary closing conditions.

07:02 EDT VF Corp. to return more than $1.8B to shareholders in 2017 - VF expects to return more than $1.8B to shareholders in 2017 through share repurchases and dividends, up from the prior outlook of $1.6B.

07:01 EDT WebMD to be aqcuired by KKR's Internet Brands in $2.8B transaction

07:00 EDT Bristol-Myers announces FDA expanded indication for Yervoy injection - Bristol-Myers Squibb announced that the FDA has expanded the indication for Yervoy injection for intravenous use to now include the treatment of unresectable or metastatic melanoma in pediatric patients 12 years of age and older. Yervoy was evaluated in two trials of pediatric patients: a dose-finding study in 33 patients aged two to 21 years with relapsed or refractory solid tumors and an open-label, single-arm trial in 12 adolescents with previously treated or untreated, unresectable Stage 3 or 4 malignant melanoma. The overall safety profile of Yervoy in children and adolescents was consistent with the safety profile in adults, and similarities in disease between adult and pediatric patients 12 years and older allow for extrapolation of data. Based on a population pharmacokinetic analysis, exposure in adolescents 12 years and older is comparable to that in adults for the approved dose of 3 mg/kg, administered intravenously over 90 minutes every three weeks for a total of four doses.

06:58 EDT VF Corp. sees FY17 gross margin 49.8% - Gross margin is now expected to reach 49.8 percent, versus the previous expectation of 49.6 percent, a 40 basis point increase over 2016 gross margin, and includes about a 70 basis point negative impact from changes in foreign currency. Operating margin is still expected to approximate 14 percent, consistent with the 2016 adjusted operating margin, including about a 60 basis point negative impact from changes in foreign currency.

06:58 EDT VF announces chairman Eric Wiseman retirement and appointment of successor - VF Corporation announced that Eric C. Wiseman will retire as Executive Chairman of the Board and as a Director of VF effective October 28. VF's Board of Directors has elected President, CEO and Director Steven E. Rendle to the role of Chairman effective upon Wiseman's retirement. Wiseman's retirement completes VF's planned leadership succession, which began with the promotion of Rendle to President and Chief Operating Officer in June 2015, and to CEO in January of this year.

06:55 EDT VF Corp. raises FY17 outlook

06:51 EDT New Residential to purchase approximately 4.9% of Ocwen common equity - New Residential Investment (NRZ) and Ocwen Financial (OCN) announced the companies have signed definitive agreements for the transfer of Ocwen's interest in mortgage servicing rights, or MSRs, and subservicing relating to approximately $110B UPB of non-agency MSRs. In connection with the transaction, NRZ has agreed to make an equity investment of approximately $13.9M to purchase approximately 4.9% of Ocwen's common equity.

06:49 EDT Teleflex: Arterial Catheterization Device receives FDA market clearance - Teleflex has announced that its Arrow Seldinger Arterial Catheterization Device received market clearance from the U.S. FDA. The new Seldinger Arterial Catheterization Device is indicated for short-term use. The device is designed to improve patient safety by eliminating confusion of catheter identification, reduce risk of complications associated with insertion technique, and provide optimal diagnostics leading to effective treatment for patients. Multiple sizes are available to provide customization to each patient, each insertion site, and each application. Teleflex expects to launch the Arrow Seldinger Arterial Catheterization Device in the United States this year.

06:37 EDT LSC Communications announces reseller agreement with Authors - LSC Communications announced an equity investment and the signing of a definitive reseller agreement with Authors, an Austin, Texas based developer of machine learning and artificial intelligence applications for the Publishing Industry. LSC will harness Authors technology to offer new services for publishers, including intelligent editorial analysis, automated keyword enhancement and actionable insights.

06:35 EDT American Midstream Partners to sell Propane business to SHV Energy for $170M - American Midstream Partners announced it has entered into a definitive agreement for the sale of the Partnership's Propane Marketing and Services business to SHV Energy N.V. for $170M in cash, subject to working capital adjustments. The transaction is expected to close in the third quarter of 2017. Through the transaction, the Partnership will divest 100% of Propane, including Pinnacle Propane's 40 service locations; Pinnacle Propane Express' cylinder exchange business and related logistic assets; and the Alliant Gas utility system. Through a series of executed and anticipated transactions, the Partnership expects that substantially all proceeds from the Propane sale will be reallocated within the third quarter of 2017, further enhancing AMID's cash flow profile. This includes the Partnership's June 2, 2017 acquisition of the Viosca Knoll system ("Viosca Knoll") from Genesis Energy, L.P. for total consideration of approximately $32M. Viosca Knoll serves producing fields located in Main Pass, Mississippi Canyon and Viosca Knoll areas in deep-water Gulf of Mexico that connect to several major delivery pipelines, including AMID's High Point and Destin pipelines. The acquisition of Viosca Knoll continues the Partnership's development of a premier Gulf of Mexico system offering strong interconnectivity across the Gulf Coast and providing customers with more efficient delivery options. The acquisition was initially funded with borrowings from the Partnership's senior secured credit facility and will be repaid commensurate with closing of the Propane transaction. The Partnership expects to announce further beneficial outcomes of its capital optimization strategy over the coming months and is maintaining its previously announced 2017 Adjusted EBITDA guidance of $190M to $205M. Based on anticipated outcomes of its growth strategy and other opportunities the Partnership is pursuing, American Midstream expects a material increase in 2018 Adjusted EBITDA. Closing of the sale of the Propane business is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act.

06:31 EDT Hasbro CFO says seeing 'some softness' in Brazil, U.K. - "Our balance sheet and cash flows remain strong. While we are seeing some softness in economic conditions in Brazil and the U.K., our brands continue to resonate with consumers," said Deborah Thomas, Hasbro's CFO. "We are well positioned with innovative new product driven by strong entertainment as we enter the second half of the year."

06:07 EDT U.S. DOT fines American, Delta, Frontier for consumer rule violations - The U.S. Department of Transportation has fined Frontier Airlines, American Airlines (AAL), and Delta Air (DAL) Lines for violating the Department's airline consumer protections rules. DOT fined Frontier Airlines $400,000 for violating the Department's oversales and disability rules, American Airlines $250,000 for failing to make timely refunds to passengers, and Delta Air Lines $200,000 for filing inaccurate baggage reports to the Department. The Department found that Frontier failed to seek volunteers before bumping passengers involuntarily, failed to provide bumped passengers the required written notice describing their rights, and failed to provide proper compensation to passengers in a timely manner, in violation of DOT rules. The Department found that American failed to process refund requests in a timely manner, in violation of DOT rules. Delta was fined for underreporting to the Department the number of mishandled baggage reports it received from passengers. The underreporting made Delta's ranking in the Department's Air Travel Consumer Report seem better than it was at various times.

06:04 EDT Regis names Shawn Moren as Chief Human Resources Officer - Regis (RGS) announced that the Board has appointed Shawn Moren as Senior Vice President and Chief Human Resources Officer, effective August 7. Moren replaces Carmen Thiede, who left Regis to pursue other opportunities. Moren was most recently SVP, Human Resources, for Bluestem Group. Prior to that role she held senior human resources leadership positions at Supervalu (SVU), including overseeing all generalist human resources initiatives.

06:02 EDT Motorola Solutions files new patent infringement complaints against Hytera - Motorola Solutions announced that it has filed new patent infringement complaints with the Regional Court of Mannheim in Germany against Hytera Communications of Shenzhen, China and Hytera Mobilfunk of Bad Munder, Germany. These legal actions are in addition to the Company's patent infringement complaints previously filed against Hytera in the Regional Court of Dusseldorf on April 18. With these additional patent infringement actions in Germany, Motorola Solutions now has five pending IP litigations against Hytera. The new Mannheim Court complaints assert that Hytera's two-way wireless communication devices with improved squelch functionality are infringing Motorola Solutions's patent EP 1 139 562 B1.

05:55 EDT Gilead announces Phase 3 results for combination HIV-1 treatment - Gilead Sciences announced detailed 48-week results from two Phase 3 studies evaluating the efficacy and safety of a fixed-dose combination of bictegravir, a novel investigational integrase strand transfer inhibitor, or INSTI, and emtricitabine/tenofovir alafenamide, a dual-NRTI backbone, for the treatment of HIV-1 infection in treatment-naive adults. In the ongoing studies, BIC/FTC/TAF was found to be statistically non-inferior to regimens containing dolutegravir in combination with a dual-NRTI backbone. The data were presented in two late-breaker sessions at the 9th IAS Conference on HIV Science in Paris.

05:48 EDT Johnson & Johnson says HIV-1 antibody response observed in APPROACH study - Johnson & Johnson announced encouraging first-in-human clinical data for an investigational HIV-1 vaccine regimen in development at its Janssen Pharmaceutical Companies. In an oral presentation of the early stage Phase 1/2a APPROACH study at the 9th IAS Conference on HIV Science, the "mosaic"-based vaccine regimen from Janssen Vaccines & Prevention B.V. appeared to be well-tolerated and elicited HIV-1 antibody responses in 100% of healthy volunteers. "Finding a preventive vaccine has proven to be one of the biggest scientific challenges in the 35-year quest to end the HIV pandemic. A successful preventive vaccine for HIV will need to provide broad protection against a wide range of viral strains," said Professor Dan Barouch, Harvard Medical School, Director of the Center for Virology and Vaccine Research at Beth Israel Deaconess Medical Center and a key collaborator for APPROACH. "These promising, early-stage results suggest that these vaccines utilizing mosaic immunogens should be evaluated further for their potential ability to achieve this historic goal." Significant progress has been made in the global battle against HIV/AIDS, including the development of critical antiretroviral treatments and HIV prevention tools, yet the disease remains one of the greatest global health threats of our time. An estimated 37 million people are currently living with HIV-1 globally, and nearly 2 million people become newly infected each year. An effective HIV vaccine is elusive due to the unique properties of the virus - including its genetic diversity and ability to mutate rapidly. Mosaic-based vaccines contain immunogens created using genes from different HIV subtypes responsible for HIV-1 infections worldwide. These immunogens are delivered through viral vectors, including Janssen's AdVac technology based on adenovirus serotype 26 (Ad26). The viral vectors are combined with other components such as soluble proteins to form mosaic-based prime-boost vaccine regimens that first prime and then boost the immune system, with the aim of producing stronger and longer-lasting immunity to HIV.

05:42 EDT NeuroDerm agrees to be acquired by Mitsubishi Tanabe Pharma for $1.1B in cash - NeuroDerm announced that it has signed a definitive agreement under which Mitsubishi Tanabe Pharma will acquire NeuroDerm for $39 per share in cash. The transaction has received unanimous approval by NeuroDerm's board and implies an equity value of approximately $1.1B. The offer of $39 per share in cash represents a premium of 79%over the unaffected price on June 9 of NeuroDerm's ordinary shares on the Nasdaq Stock Market and a 17% premium over the closing stock price on July 21. A special meeting of shareholders to approve the transaction is expected to be held this fall. Assuming typical regulatory and shareholder approval timeframes, NeuroDerm currently anticipates the transaction will close in Q4.