Stockwinners Market Radar for July 26, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:08 EDT Invenergy, GE to build 2,000 megawatt wind farm in Oklahoma - Invenergy, along with GE Renewable Energy (GE), announced a 2,000megawatt wind farm that will be the largest in the U.S. and second-largest in the world, once operational. The Wind Catcher facility is currently under construction in the Oklahoma panhandle and will generate wind electricity from 800 state-of-the-art GE 2.5 megawatt turbines. The wind facility is part of the $4.5B Wind Catcher Energy Connection that also includes an approximately 350-mile dedicated, extra-high voltage power line. American Electric Power (AEP) utility subsidiaries Public Service Co. of Oklahoma and Southwestern Electric Power Co. are asking utility regulators in Louisiana, Arkansas, Texas and Oklahoma to approve plans to purchase the wind farm from Invenergy upon completion of construction and to build the power line to serve PSO and SWEPCO's more than 1.1M customers. Construction of the Wind Catcher facility started in 2016, and it is expected to be fully operational in mid-2020. Invenergy is contracted to operate the facility for the first five years.

18:31 EDT Customers Bank expands private, commercial banking unit into Chicago - Customers Bank announced that it is expanding its Private and Commercial Banking division into the Chicago metropolitan area. Leveraging the success of its high-tech, high-touch, single-point-of-contact model, the Bank will establish a limited-purpose office in downtown Chicago, subject to regulatory approval. Lifelong Chicago resident and banking veteran John R. Ross has been appointed Senior Vice President and Banking Group Head of the Chicago group. Prior to joining Customers Bank, Ross most recently served as Senior Vice President and Team Leader of Chicago's Associated Bank. Ross began his career in finance in 1984, and has served in various management and producer roles at Chicago banks including The Private Bank, US Bank, Cole Taylor Bank, LaSalle Bank, and others.

17:58 EDT Hub Group sees FY17 gross margin 10.9%-11.3% - Hub Group sees high single to low double-digit revenue growth at Hub and mid to high single-digit revenue growth for the Mode segment. The company expects gross margin as a percentage of sales for the year to range from 10.9% to 11.3%. Hub projects that intermodal prices will stabilize in the last half of the year. The company see quarterly costs and expenses will range from $93M to $94M., including Estenson costs and expenses

17:49 EDT Coeur Mining cuts FY17 silver production view to 15.81M-17.21M ounces - Previous view 16.4M-18M ounces. Raises FY17 gold production view to 367,000-392,000 ounces from 362,000-387,000 ounces.

17:46 EDT Hub Group looks to increase intermodal prices in select geographies - In response to tightening capacity, Hub Group is looking to increase intermodal prices in selected geographies in anticipation of a normalized peak season. Going forward, the company expects overall pricing to be flat in the second half of 2017, with intermodal prices increasing in the 2018 as capacity continues to tighten. During the quarter, Hub Group took actions to streamline and realign Hub's structure to more closely reflect the current business environment. This resulted in an annualized savings of approximately $8M Hub Group did close on the Estenson Logistics dedicated trucking transaction on July 1. The Estenson acquisition provides Hub a "strong foundation for growth in the dedicated trucking space that is much in demand by our clients."

17:43 EDT Hub Group sees flattening in intermodal pricing pressure at quarter-end - Said there is some recent signs of truckload capacity tightening in certain geographies as it appears demand is picking up.

17:35 EDT KeyCorp director acquires 5,000 common shares - In a regulatory filing, KeyCorp director Alexander M. Cutler disclosed the purchase of 5,000 common shares of the company at a price of $18.55 per share. The transaction, dated July 25, 2017, brings Cutler's total direct common stock ownership to 55,000 shares.

17:28 EDT Tesoro, others awarded government contracts - Tesoro (TSO) Refining & Marketing Co. ($311,814,545); Par Hawaii Refining ($180,028,959); Valero (VLO) Marketing and Supply Co ($176,367,610); Equilon Enterprises ($138,010,318); Western Refining Co. (WNR) ($98,075,917); AltAir Paramount ($86,034,000); U.S. Oil and Refining Co. ($83,196,888); Phillips 66 (PSX), $67,290,707; BP (BP) West Coast Product ($62,472,992); Petro Star ($60,017,043); Sinclair Oil Corp. ($23,669,154); Hermes Consolidated ($15,719,589); and Epic Aviation ($7,356,908), have each been awarded a fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract under solicitation SPE600-17-R-0709 for various types of fuel. These were competitive acquisitions with 23 offers received. They are one-year contracts with a 30-day carryover. Locations of performance are Alaska, California, Wyoming, Oklahoma, Texas, Washington, Hawaii, New Mexico, Utah, Arizona, Colorado, Nevada, Montana, Idaho, and Oregon, with an Oct. 30, 2018, performance completion date. Using customer is Defense Logistics Agency Energy. Type of appropriation is fiscal 2017 defense working capital funds. The contracting activity is the Defense Logistics Agency Energy, Fort Belvoir, Virginia.

17:25 EDT Facebook says will continue to invest 'aggressively'

17:21 EDT Facebook sees FY17 CapEx at lower end $7B-$7.5B range - Says ad revenue growth was "strong" globally. Says price of ads increased 24% over the quarter. Says continues to expect that ad revenue growth rate will go down as the year goes on. Narrows FY17 GAAP expense growth view to 40%-45% from 40%-50%. Says expects to accelerate headcount growth rate in 2H17. Sees FY17 CapEx at lower end of $7B-$7.5B range.

17:12 EDT Facebook says WhatsApp, Instagram stories each have over 200 users - Says new mission is to bring world "closer together." Says pleased with growth in Instagram Stories and WhatsApp stories. Says WhatsApp, Instagram stories have over 200 users each. Says AI creating multiple improvements throughout existing platforms. Says expects AI to change ways company does business. Says AI will eventually flag inappropriate content. Says video is integral part of mobile strategy. Says wants to move faster on WhatsApp monetization. Comments taken from Q2 earnings conference call.

17:10 EDT Genentech says Phase III GiACTA study meets primary endpoint - Genentech, a member of the Roche Group, announced that data from the Phase III GiACTA study, which evaluated Actemra in adult patients with GCA, were published in the July 27, 2017 issue of the New England Journal of Medicine. The primary endpoint of the study was met; Actemra combined with a 26-week steroid taper regimen showed superiority in achieving sustained remission at 52 weeks compared to placebo combined with a 26-week steroid taper regimen. No new safety signals were observed and the safety profile of the Actemra groups was generally consistent with the documented safety profile of Actemra in other indications.

17:08 EDT Barrick backs FY17 copper production view 400M-450M pounds - Continues to see cost of sales for FY17 copper production of $1.50-$1.70 per pound and all-in sustaining costs of $2.10-$2.40 per pound.

17:04 EDT VALNEVA and Emergent BioSolutions in pact to develop Zika Virus - Valneva that it has granted Emergent BioSolutions exclusive worldwide rights to its Zika vaccine technology ZIKV. Valneva and Emergent will co-develop ZIKV-VLA1601, a highly purified inactivated vaccine candidate against the Zika virus, which was successfully developed by Valneva using the established inactivated manufacturing platform of its licensed Japanese Encephalitis vaccine IXIARO/ JESPECT. Emergent and Valneva seek to initiate a Phase I clinical trial in the U.S. in late 2017 or early 2018 and anticipate Phase I data within six months after trial initiation.

16:52 EDT La Quinta files for planned real estate business spin-off - La Quinta Holdings announced that a Form 10 Registration Statement was filed today with the U.S. Securities and Exchange Commission with respect to the previously announced planned separation of its real estate business, which is to be named CorePoint Lodging from its franchise and management businesses creating two distinct, publicly traded companies. The registration statement provides information regarding the business, strategy and historical financial results of the deemed predecessor entity to CorePoint Lodging, as well as further details on the anticipated terms of license and management agreements between CorePoint and new La Quinta following the planned spin-off. The Company is providing supplemental financial information in the tables below and in an updated investor presentation published on its investor relations website. CorePoint Lodging expects to update its registration statement in subsequent amendments as additional information on the transactions is finalized prior to the separation. "The filing of CorePoint Lodging's Form 10 is an important next step as we execute against our key strategic initiatives and drive value for our stakeholders," said Keith Cline, La Quinta Holdings Inc.'s President and Chief Executive Officer. "We believe this separation will result in greater strategic clarity, with distinct management teams that can fully activate and run the respective businesses. In addition, we expect this will allow us to unlock growth opportunities that are embedded within each business and take advantage of capital market and tax efficiencies. We look forward to completing this spin transaction, realizing significant benefits for both companies and continuing to generate long term value for La Quinta's shareholders."

16:49 EDT Ormat Technologies implements corporate governance changes - Ormat Technologies announced that, in connection with the closing of the previously reported acquisition by ORIX Corporation of an approximately 22.1% ownership stake in Ormat from certain selling shareholders, Ormat has implemented certain corporate governance changes in accordance with the terms of the Governance Agreement entered into by Ormat and ORIX in connection with such acquisition by ORIX. Ormat also announced that the previously reported Commercial Cooperation Agreement entered into by Ormat and ORIX is now effective. Pursuant to the Governance Agreement and Ormat's Fourth Amended and Restated By-Laws, the number of directors serving on Ormat's Board of Directors was increased from eight directors to nine directors. Acting upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors, the Board of Directors appointed Mr. Byron Wong as a director to fill the newly created directorship on the Board of Directors resulting from the increase in the size of the Board of Directors. The Board of Directors has determined that Mr. Wong is independent in accordance with the New York Stock Exchange listing standards and the rules and regulations of the Securities and Exchange Commission. Ormat also announced today that each of Mr. Robert E. Joyal and Mr. Ami Boehm have resigned as directors of Ormat, and Mr. Gillon Beck has resigned as a director of Ormat and from his position as the Chairman of the Board of Directors. Mr. Joyal and Mr. Boehm have served as directors on Ormat's Board of Directors since May 2012, and Mr. Beck has served as a director on Ormat's Board of Directors since May 2012 and as the Chairman of Ormat's Board of Directors from May 2012 to June 2014, and again since November 2015.

16:47 EDT Spectranetics announces FDA approval of Stellarex drug-coated balloon - The Spectranetics Corporation announced receipt of U.S. Food and Drug Administration Pre-Market Approval of the Stellarex(TM) drug-coated balloon, designed to restore and maintain blood flow to the superficial femoral and popliteal arteries in patients with peripheral arterial disease. "The Stellarex DCB has shown safety and efficacy in a cohort of patients which included a higher preponderance of diabetics and core-lab defined severely calcified lesions in the US IDE trial. These results, in combination with the cohort of patients studied in the European Randomized Controlled Trial, demonstrate the Stellarex DCB is safe and effective in diverse patient populations when addressing symptomatic femoropopliteal disease," stated Dr. Prakash Krishnan, ILLUMENATE Pivotal Trial's Co-Principal Investigator, Mount Sinai in New York. Dr. Sean Lyden, ILLUMENATE Pivotal Trial's Co-Principal Investigator, Cleveland Clinic, Cleveland, Ohio added, "The ILLUMENATE Pivotal Trial treated a challenging patient population with a low paclitaxel drug dose. When considering options, I think most clinicians would prefer to use a lower drug dose if they can also achieve great patency results."Throughout the ILLUMENATE Trial Series, Stellarex DCB's EnduraCoat(TM) Technology demonstrates both safety and efficacy with consistently high patency rates and low clinically driven target lesion revascularization rates in a range of lesion complexities and patient co-morbidities. The device offers both hybrid paclitaxel crystallinity and a durable excipient to provide efficient drug transfer, effective drug residency with high coating durability and minimal particulate loss."The Stellarex DCB delivers top-tier clinical results for common to complex patients. As the only commercially available DCB with two reported randomized controlled trials, Stellarex has demonstrated durability with consistently high patency rates in a wide range of patients," said Scott Drake, President and CEO, Spectranetics. "Our customers refer to Stellarex as a no-compromise solution. This next generation DCB provides proven treatment backed by robust clinical evidence.""Spectranetics is a provider of proven solutions to manage the challenges of crossing lesions, preparing vessels, and treating even the most complex coronary and peripheral lesion morphologies. We are always focused on better patient care, and with today's FDA approval, the Stellarex DCB becomes a formidable competitor in the drug-coated balloon market, and a proven solution for those suffering with PAD," said Scott Hutton, Sr. Vice President & General Manager, Spectranetics.The Stellarex DCB enhances Spectranetics' diversified suite of clinical solutions to treat complex cardiovascular conditions and expands its market opportunity in the

16:45 EDT MPLX boosts dividend to 56.25c - MPLX announced that the board of directors of its general partner has declared a cash distribution of $0.5625 per common unit for the second quarter of 2017. This represents an increase of $0.0225 per unit, or 4 percent, over the first-quarter 2017 distribution, and an increase of $0.0525 per unit, or 10 percent, over the second-quarter 2016 distribution. Since the partnership's initial public offering in October 2012, the MPLX board has authorized distribution increases for 18 consecutive quarters, representing a compound annual growth rate of 18 percent over the minimum quarterly distribution established at the partnership's formation. The distribution will be paid Aug. 14, 2017, to common unitholders of record as of Aug. 7, 2017.

16:43 EDT Omega Healthcare sees FY17 adjusted FFO $3.42-$3.44

16:42 EDT Varian Medical announces order for Halcyon treatment system from Belgium - Varian Medical Systems announced that the University Hospitals Leuven in Belgium, have ordered the new Halcyon treatment system. Scheduled to be installed in September 2017, the new system provides the opportunity for UZ Leuven to deliver high quality Halcyon treatments while improving patient comfort and expanding the availability of advanced cancer care.

16:39 EDT Markel to acquire majority interest in Costa Farms - Markel and Costa Farms announced that they have entered into a definitive agreement for Markel to acquire a majority interest in Costa Farms and its related operating companies. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2017. Headquartered in Miami, Florida, Costa Farms is the largest producer of ornamental plants in the world.

16:37 EDT Las Vegas Sands reports Q2 Venetian Macao revenue $687M - The Venetian Macao generated revenue of $687M and adjusted property EBITDA of $256M in the second quarter, with an adjusted property EBITDA margin of 37.3%, reflecting 4.9% growth in adjusted property EBITDA and a 70 basis point increase in EBITDA margin compared to the second quarter of 2016. In the second quarter of 2017, there were approximately 19% fewer rooms available compared to the same quarter of the prior year. Non-Rolling Chip drop was $1.7B for the quarter, with a Non-Rolling Chip win percentage of 25.7%. Rolling Chip volume was $5.17B, with a Rolling Chip win percentage of 3.61%, above the expected range and the 2.73% experienced in the prior-year quarter. Slot handle was $681M for the quarter.

16:34 EDT Whirlpool increases share repurchase authorization to $2.35B - "Our strong free cash flow generation gives us ample flexibility to effectively execute our balanced capital allocation strategy. We plan to continue returning strong levels of cash to our shareholders through our increased dividend and $2.35B share repurchase authorization," said CEO Jeff Fettig.

16:33 EDT Realty Income sees FY17 EPS $1.15-$1.20, consensus $1.22 - Company estimates FY17 FFO $2.96-$3.01. FFO per share for 2017 is impacted by a $13.4M non-cash redemption charge on the Class F preferred shares that were redeemed in April, which represents 5c per share. FFO per share for 2017 is based on a net income per share range of $1.15-$1.20, plus estimated real estate depreciation and impairments of $1.88 per share, and reduced by potential estimated gains on sales of investment properties of 7c per share. Company estimates FY17 AFFO per share $3.03-$3.07. AFFO further adjusts FFO for unique revenue and expense items, which are not as pertinent to the measurement of Realty Income's ongoing operating performance.

16:30 EDT Nutrisystem trading resumes

16:27 EDT Oneok raises quarterly dividend 21% to 74.5c per share - The dividend is payable Aug. 14 to shareholders of record at the close of business Aug. 7.

16:25 EDT OpenText closes acquisition of Covisint for $103M - OpenText announced that it has completed the closing of the previously announced acquisition of Covisint, the leading Cloud platform for building digital identity management, Internet of Things applications, and automotive and transportation supply chains. The aggregate purchase price for the acquisition was approximately $103M, and the transaction was funded with cash on hand. A market and financial update will be provided during the OpenText fourth quarter fiscal year 2017 financial results call on August 3.

16:20 EDT Curtiss-Wright increasing dividend 15% to 15c per share

16:18 EDT HP Inc. announces chairman Meg Whitman leaving board - HP Inc. announced that its board has elected Chip Bergh as independent board chairman replacing Meg Whitman who is stepping off the board, effective immediately. Whitman has served as chairman of HP since the separation of HP Inc. and Hewlett Packard Enterprise in November 2015.

16:12 EDT Whiting Petroleum sees FY17 production 43.6-44.3 MMBOE - Sees FY17 CapEx $950M allocating $518m to the Williston Basin area, $332M to the DJ Basin area, $62M to non-operated activity and $38M to exploration, facilities and land.

16:10 EDT American Electric announces 9M MW clean energy project - Today, American Electric Power announced a major clean energy project, Wind Catcher Energy Connection, that will provide nearly 9M megawatt-hours of new wind energy annually to its customers in Arkansas, Louisiana, Oklahoma and Texas. AEP's utility subsidiaries Public Service of Oklahoma, or PSO, and Southwestern Electric Power, or SWEPCO, are asking utility regulators in those four states to approve plans to purchase a 2,000MW wind farm currently under construction in the western panhandle of Oklahoma and build an approximately 350-mile, dedicated, extra-high voltage power line to efficiently deliver the renewable energy to customers. PSO and SWEPCO plan to file July 31 with regulators for approvals. Total investment for the project will be $4.5B, inclusive of all costs. The project is expected to save SWEPCO and PSO customers more than $7B, net of cost, over 25 years. The project will support approximately 4,000 direct and 4,400 indirect jobs annually during construction and 80 permanent jobs once operational. It also will contribute approximately $300 million in property taxes over the life of the project. In addition to this project, AEP's utility companies have announced or filed for approvals for another 1,350 MW of wind and solar generation that will be owned by the company or added to its portfolio through power purchase agreements.

16:09 EDT Facebook down 2.5% to $161.47 after earnings report

16:08 EDT California regulator proposes ClearSign Combustion demonstration at refinery - ClearSign Combustion announced that the Technology Committee of the SCAQMD on July 21 has unanimously approved and sent to the governing board the recommendation of staff that ClearSign's Duplex technology be demonstrated at a major refinery in Southern California.

16:06 EDT Facebook CEO says had 'good second quarter and first half' - "We had a good second quarter and first half of the year. Our community is now two billion people and we're focusing on bringing the world closer together," said CEO Mark Zuckerberg.

16:00 EDT Buffalo Wild Wings trading halted, news pending

15:53 EDT Netflix says currently experiencing issues streaming - The company said on its website: "We are currently experiencing issues streaming on all devices. We are working to resolve the problem. We apologize for any inconvenience." Reference Link

15:31 EDT Turner, Nielsen agree to out-of-home measurement for CNN, Turner Sports - Nielsen (NLSN) and Turner (TWX) announced that CNN and Turner Sports will subscribe to Nielsen's National Out-of-Home Reporting Service. The long-term agreement between Nielsen and Turner delivers program and commercial ratings for live plus seven days of time-shifted viewing. The National Out-of-Home Reporting Service is a key component of Nielsen's Total Audience framework, the only electronic measurement solution that provides viewing estimates for both in-home and out-of-home linear TV consumption.

13:58 EDT RBS provides update on remaining State Aid obligation regarding Williams & Glyn - Following the consultation process carried out by the European Commission and a market testing exercise carried out by HM Treasury, RBS has been informed by HMT that an alternative remedies package has now been agreed in principle between HMT and the EC Commissioner responsible for competition. This revised package is focused on the following two remedies to promote competition in the market for banking services to small and medium enterprises in the UK: A GBP 425m Capability and Innovation Fund, to be administered by an independent body, that will grant funding to a range of competitors in the UK banking and financial technology sectors; and An Incentivized Switching Scheme which will provide GBP 275m of funding for eligible challenger banks to help them incentivize SME customers of the business previously described as Williams & Glyn to switch their accounts and loans from RBS paid in the form of "dowries" to the receiving bank. An additional GBP 75m will be made available by RBS to cover customers' costs of switching. This revised package will be submitted to the EC's College of Commissioners for approval and if agreed will form the basis of a new term sheet in relation to RBS's remaining State Aid commitments. It is expected to come into effect during H2 2017, upon which RBS will no longer be obliged to achieve separation and divestment of the business previously described as Williams & Glyn by 31 December 2017. A GBP 750m provision was recognized in RBS's 2016 Annual Results in relation to the previously proposed package of measures. An incremental charge of GBP 50m in relation to the revised package and its implementation costs will be recorded in the RBS H1 2017 results which will be announced 4th August 2017, taking the total provision to GBP 800m. RBS will incur running costs for the duration of the scheme, which are estimated at around GBP 35m and will be substantially incurred before the end of 2019. Furthermore, under the terms of the revised package, should the uptake within the Incentivised Switching Scheme not be sufficient, RBS could be required to make a further contribution, capped at GBP 50m.

13:48 EDT Ford drops after quarterly beat attributed to tax credits - Shares of car giant Ford (F) are sharply lower despite an earnings beat announced earlier. EARNINGS ASTERISK: Before the market open on Wednesday, Ford reported second quarter adjusted earnings per share of 56c on revenue of $39.9B. Analysts' estimates for the quarter were 43c for EPS on revenue of $37.1B. The big asterisk for Q2 results was the much lower tax rate in the quarter of 10.2% compared to the 32% rate it paid last year. Under new CEO Jim Hackett, who was hired in May to replace Mark Fields, the company recorded a $248M pre-tax charge that was related to write-offs that the automaker took in association with the decision to shift production of the Ford Focus to China from Mexico. The car maker will begin importing the compact Focus from China in 2019. Additionally, Ford noted on its earnings conference call that it took $421M from overseas distributions which come with foreign tax credits that Ford realized on its balance sheet. As a result, the company sees an adjusted effective tax rate of about 15% for the full year, much lower than was expected, The lower tax view allowed the car company to provide fiscal year 2017 EPS guidance of $1.65-$1.85 against analysts' consensus of $1.51. Ford also forecast fiscal year automotive segment operating margin lower than last year and automotive segment operating cash flow positive but lower than FY16. PRE-TAX PROFITS: A better indication of Ford's financial health is seen in its pre-tax profit of $2.51B, down 16% from the $2.8B the company reported in the year ago period. The company attributes the decline in pre-tax profitability to material costs, mostly from steel. NORTH AMERICA VOLUMES LOWER: Ford said wholesale volumes in North America were down 1% in Q2. Revenue gains were driven by continued strength of series and vehicle mix and higher net pricing. Fleet sales were lower for the quarter and the company said it sees continues erosion in North American margins and profit as commodity costs continue to pinch the bottom line. PRICE ACTION: Ford shares are off their earlier low of $10.93, but are still down 2%.1 to $11.03 in afternoon trading.

13:18 EDT FuelCell reports award of three fuel cell projects totaling 39.8 MW - FuelCell Energy (FCEL) announced the award of 39.8 megawatts fuel cell projects by PSEG Long Island (PEG) under the Fuel Cell Resources Feed-in Tariff. This 40 megawatt FIT IV program is structured to enhance energy resiliency with clean local power generation for Long Island, New York. Under this PSEG program, Long Island Power Authority will purchase the power from the fuel cell projects under 20 year power purchase agreements. FuelCell Energy will install, operate and maintain the fuel cell power plants. Each fuel cell project will supply a different LIPA electrical substation on Long Island, including: An 18.5 megawatt project located near the Brookhaven Rail Terminal in Yaphank consisting of five SureSource 4000 power plants. A 13.9 megawatt combined heat and power project in the town of Brookhaven consisting of three SureSource 4000 power plants and one SureSource 3000 power plant plus an absorption chilling system that will provide thermal energy to a neighboring commercial business. A 7.4 megawatt project in the Yaphank consisting of two SureSource 4000 power plants.

13:10 EDT FuelCell trading halted, news pending

13:02 EDT Pluristem: New PLX-R18 data shows 'significant' hematological deficiencies - Pluristem Therapeutics presented new data at the RITN, or Radiation Injury Treatment Network, conference from a recent study evaluating PLX-R18 as a treatment for Acute Radiation Syndrome, or ARS. Pluristem recently announced positive data from a Phase II-equivalent study under the FDA Animal Rule demonstrating improved survival and hematological recovery of non-human primates exposed to high levels of radiation. The study was conducted and funded by the U.S. National Institute of Allergy and Infectious Diseases, part of the U.S. National Institutes of Health. New data from the study focuses on 12 additional NHPs that were exposed to lower radiation levels than those in the initial study. In a radioactive or nuclear incident, many victims will suffer from health effects resulting from low radiation exposure and not necessarily from the more dire impact of exposure to high radiation levels. The findings suggest that even though low radiation exposure is not lethal, it can lead to serious hematological deficiencies and to long-term health problems that result from such damage. Neutrophil, lymphocyte, and platelet counts of the 12 PLX-R18-treated subjects showed faster recovery than those of the study's control group. This finding indicates that PLX-R18 could potentially be used as a treatment for additional indications relating to bone marrow deficiencies, such as those that may occur due to radiotherapy, chemotherapy, adverse drug reaction and some genetic conditions. These new findings also strengthen the safety profile of PLX-R18 in subjects exposed to different levels of radiation and even to subjects not exposed to radiation at all. This is a critical factor in case of disasters where screening of victims for exposure levels would delay treatment and potentially reduce its efficacy. In addition, a thorough analysis of the initial group of 24 NHPs exposed to high doses of ionizing radiation showed that PLX-R18 treatment shortened the length of time spent below severe blood count thresholds, thus avoiding serious infections, hemorrhaging, and anemia.

12:49 EDT Six Flags CEO Reid-Anderson says he's 'here for the long-term' - CEO Reid-Anderson says committed to retaining the company's current strategy. Reid-Anderson, who had served as Six Flags' CEO from August 2010 through February 2016 and as executive chairman since February 2016, says he is reevaluating all aspects of the operation "to ensure that we have structures in place that drive clear and quick decision making and tight accountability." The executive said Six Flags plans to return all excess cash to shareholders via dividends and share buybacks. The organization remains "keenly focused" on closing the gap to its goal of $600N of modified EBITDA. Says that while it was a "sad" decision that John Duffey retired from the company after less than two years as CEO, Reid-Anderson said that he felt that with his history and track record, Reid-Anderson "was the best person to run the company." He said he is "excited" to be back and confirmed that he is "here for the long-term." Comments taken from the Q2 earnings conference call. Six Flags is up 6.1% to $59.19 in afternoon trading.

12:36 EDT Eagle says FDA asks company to conduct additional Ryanodex trial for EHS

12:29 EDT Eagle Pharmaceuticals trading halted, news pending

12:02 EDT Ferroglobe has not received regulatory approvals from Spain's water authority - Ferroglobe announced that it has not received the necessary regulatory approvals from Entidade Publica Empresarial Augas de Galicia to divest non-core assets attributable to the hydro-electric power operations of its Energy division in Spain. Ferroglobe will explore all options, including alternatives to gain formal approval for the divestiture of these non-core assets for capturing the full value of these assets. Ferroglobe has seen a positive momentum in sales volumes and a favorable development in average sales prices since the end of Q1 2017. In addition, the company has continued to realize average sales prices greater than current index prices and has generated strong operating cash flows since the end of Q1 2017. Management remains positive about the outlook of financial results in the coming quarters, and is confident of the ability of the company to grow strongly in the coming years, both through organic increased productivity and through inorganic accretive transactions.

11:54 EDT Boeing seeing Pentagon demand above Trump's FY18 budget request - In its Defense, Space & Security business, Boeing continues to see solid demand for its major platforms and programs. According to the enacted FY17 budget, Congress added 7 AH-64 Apaches, 12 F-18 Super Hornets and 4 V-22 Ospreys as well as a significant funding increase for space launch system. The aircraft maker is seeing strong support for numerous Boeing programs from the Pentagon above the President's FY '18 budget request. International demand for Boeing's defense and space offerings also remains high. In particular, for rotorcraft, commercial derivatives, fighters and satellites, the company said on its Q2 earnings update

11:43 EDT Boeing plans to ramp up production and delivery of new 777X - Boeing said it has a strong foundation of 340 777X orders and commitments that support the company's plans for ramping up production and delivery of the new 777X.

11:35 EDT Ameriprise targets return of 90%-100% of earnings to investors as baseline - Says strong wealth management operating performance driven by growth in client assets and improved client activity levels. Says asset management financial performance is "quite strong with good earnings and competitive margins despite event-driven legacy outflows in the quarter." Says operating total net revenue growth of 5% in Q2 driven by strong client inflows, growth in fee-based assets, improved equity markets and short-term interest rates. Says annuities performing in line with expectations. Sees "substantial" benefit from expanded reinsurance program in 2017. Says targeting returning 90%-100% of earnings to shareholders as a baseline in 2017 and will continue to be opportunistic. Comments from slides that were presented on the Q2 earnings conference call. Ameriprise is up 4.4% to $144.88 in morning trading.

11:32 EDT Boeing sees $6.1T of aircraft demand over next 20 years - Boeing recently updated its 20-year commercial market outlook. Boeing now forecast $6.1T of demand or approximately 41,000 new airplanes over the next 20 years, an increase of more than 1,400 aircraft from last year's outlook. Boeing sees demand for more than 29,500 aircraft in the single-aisle market and approximately 9,100 aircraft in the widebody market. "This long-term demand, combined with healthy market conditions and a robust backlog, provide a solid foundation for our planned production rate increases," the company said, on its quarterly earnings update.

11:28 EDT Boeing: More balance in demand for new planes vs. repalcement planes - On its Q2 earnings call, the airplane maker said there is also more balance in demand between new airplanes needed to replace older airplanes and those needed to support fleet growth requirements. Boeing sees current customer purchasing patterns becoming more stable and consistent, driven by sustained and increasing airline profitability.

11:22 EDT Boeing sees book-to-bill at about one for year, not urgency to build backlog - Boeing cites a very strong Paris Air Show adding that the company saw some upside there compared to what they had expected going into the show. Looking at the entire market, both wide-body and narrow-body, the company still expects volumes to be similar to last year with a book-to-bill of one. With a backlog of 5,700 aircraft, "we don't have a great sense of urgency to build overall backlog. Boeing added that it will be focused on filling out the 777 bridge. Boeing sees activity in the leasing market supporting the overall market strength.

11:09 EDT Boeing sees 2K-4K potential plane sales for new middle-of -market plane - Says exploring two-model line for "so called" "797."

10:57 EDT Boeing says 777 production for 2017 is sold out

10:51 EDT Boeing sees operating cash flow increasing throughout the decade

10:49 EDT Boeing backlog 5,700 plus aircraft n Q2 - Comments from Q2 earnings call.

10:44 EDT Sprint to create over 200 jobs with 30 new retail locations in Midwest - Sprint continues to expand its presence and investment in the Midwest with plans to add more than 200 new jobs and 30 new retail locations throughout parts of Iowa, Kansas, Minnesota, Missouri, and Nebraska by the end of 2017. The new jobs will include a combination of retail, operations and technical experts. Currently, Sprint counts more than 1,200 regional employees and operates more than 280 branded retail locations throughout the Midwest region.

10:39 EDT Home health stocks plunge after CMS proposes changes to Medicare payments - Shares of home health services providers are sliding after the Centers for Medicare & Medicaid Services, or CMS, issued a proposed rule that would update the 2018 Medicare payment rates and restructure its reimbursement system in 2019. Mizuho analyst Sheryl Skolnick downgraded Amedisys (AMED) to Neutral following the news. NEW PAYMENT SYSTEM: According to its website, CMS has issued a proposed rule that would update the 2018 Medicare payment rates and the wage index for home health agencies serving Medicare beneficiaries. Additionally, the rule proposes changes to the home health prospective payment system case-mix adjustment methodology, including a change in the unit of payment from 60-day episodes of care to 30-day periods of care, to be implemented January 1, 2019. The proposed case-mix methodology refinements, called the home health groupings model, of HHGM, rely more heavily on clinical characteristics and other patient information to place 30-day periods of care into meaningful payment categories. The HHGM also eliminates therapy service use thresholds that are currently used to case-mix adjust payments under the HH PPS. The proposed decrease reflects the effects of a 1% home health payment update percentage. MOVING TO THE SIDELINES: In a research note this morning, Mizuho's Skolnick downgraded Amedisys to Neutral from Buy, and called the CMS proposed rule a "body blow" that represents a significant headwind for the industry. The proposed new system not only would cut industry payments by $950M in 2019, but would also make Low-Utilization Payment Adjustment, or LUPA, reimbursement worse, she told investors. Nonetheless, Skolnick acknowledged that mitigation could be possible as this is only a proposed rule and the industry could get a delay or reduction in the cut. The analyst lowered her price target for Amedisys to $50 from $65, cut her price target for HealthSouth (HLS) to $45 from $47 and trimmed her price target on Kindred Healthcare (KND) to $8 from $9. POTENTIAL SIZEABLE CUT IN 2019: Commenting on the news, Jefferies analyst Brian Tanquilut told investors that CMS's proposed home nursing rule for 2018 was "benign," but the reimbursement system change proposed for 2019 that would result in a rate cut, if approved, is a negative. The analyst pointed out that his concern is that the proposed rate cut does not seem to follow the typical requirement for the agency to put through budget-neutral changes, unless approved by Congress. Tanquilut also pointed out that the three-week delay in the home health proposal's release drove investor concerns about the potential inclusion of the HHGM in the proposal. With Almost Family (AFAM), LHC Group (LHCG) and Amedisys trading lower, he believes the HHGM was already somewhat baked into stock valuations. In 2019, the net rate cut from the HHGM will be partially offset by a market basket adjustment and the bonus payments that each company is scheduled to receive from the rollout of value-based payments, the analyst contended, adding that he believes net rate cuts, assuming a 2-year phase in of HHGM, would amount to less than 50 bps. PRICE ACTION: In morning trading, shares of Amedisys have dropped 16%, Almost Family slid over 13%, and HealthSouth slipped 5%. Meanwhile, Kindred Healthcare is down 14% and LHC Group is down 10%.

10:26 EDT Hilton says corporate customers 'cautiously optimistic' - Says corporate customers "cautiously optimistic," says they would like to see more clarity of public policy, positive movement on tax reform before increasing spending on travel. Sees group business weaker in 2H than 1H, says was "fully expected." Says timing of 4th of July "hurts a lot" regarding Q3 group business.

10:17 EDT Third Point talks Alibaba, Baxter, BlackRock in Q2 letter - Dan Loeb's Third Point highlighted a reestablished position in Alibaba (BABA) as well as investments in Baxter (BAX) and BlackRock (BLK) in its Q2 investor letter. Third Point's Offshore Fund returned 4.6% in the quarter, bringing total returns for the year to up 10.7%. Regarding Baxter, which the fund's Munib Islam sits on its board, Third Point said, "Looking forward, we are confident that Mr. Almeida can combine operational efficiency with an unlevered balance sheet to drive continued earnings growth which - even absent any multiple expansion - should drive strong returns for Baxter shareholders." The fund went added, "We believe that Alibaba is among the best business models in the global internet sector, and is the clear winner in the consolidated Chinese ecommerce market....As the company continues to execute, we believe its valuation multiple can approach other best-in-class high growth businesses, namely Tencent, which trades at 32x consensus 2018 EPS, making us believers in the 2017 'Case for Alibaba'." On BlackRock, Third Point concludes, "With shares at less than 15x our 2019 EPS forecast, and an outlook for consistent mid-teens EPS growth, we think BlackRock is a misunderstood franchise that is just beginning to inflect." Shares of Alibaba are up 2% to $155.03 in morning trading while Baxter is down 2% and BlackRock is up 1%.

10:13 EDT Dish's SlingTV adds more movies to Sling Orange, Sling Blue with EPIX Drive-In - Dish's Sling TV added more movies to the Sling Orange service and Sling Blue service with the addition of EPIX Drive-In, launched REELZ in its Hollywood Extra add-on and debuted a new EPIX premium add-on, which includes movies and shows from EPIX, EPIX 2 and EPIX Hits.

10:06 EDT Celanese drops 4% to $91.51 after Bloomberg headline of antirust raid

10:01 EDT Coca-Cola Zero Sugar launches in U.S. with new recipe - Through in-house innovation and extensive market testing, Coca-Cola Zero is "getting a new name, new look and even more delicious taste. The no-calorie fan favorite will deliver an even better-tasting recipe and now be called Coca-Cola Zero Sugar." As the company continues to create new beverages and evolve its recipes, Coca-Cola Zero Sugar represents the company's latest zero-sugar product innovation. It joins a roster of nearly 250 other no- and low-calorie beverages offered in the U.S.

09:56 EDT McKesson investors vote to reject proposal to split role of chairman and CEO - At its annual meeting of stockholders, shareholders voted today to reject a shareholder proposal to split the role of Chairman and CEO, indicating support of the company's current governance structure. The Board believes that Chairman and CEO John Hammergren currently remains the right person to serve as chairman based on the needs of the company and its shareholders and that the Board's Lead Independent Director provides strong management oversight and independent leadership. Today, the Board announced its decision to split the role of chairman and CEO in the future, commencing with the company's next CEO.

09:53 EDT State Street raises FY17 NII guidance to up 12%-13% or $2.43B-$2.45B - State Street previously saw FY17 NII guidance of up 4%-6% or $2.27B-$2.3B. Raises FY17 total fee revenue guidance to up 6%-7% from 4%-6%. Sees FY17 Beacon pretax net expense savings of at least $140M. Sees FY17 pretax restructuring charges of $300M-$400M from 2016-2020. Guidance provided in Q2 earnings presentation slides.

09:50 EDT USG raises FY17 NII to up 12%-13% or $2.43B-$2.45B from up 4%-6% or $2.27B-$2.3B - Raises FY17 total fee revenue guidance to up 6%-7% from 4%-6%. Sees FY17 Beacon pretax net expense savings of at least $140M. Sees FY17 pretax restructuring charges of $300M-$400M from 2016-2020. Guidance provided in Q2 earnings presentation slides.

09:50 EDT Sigma Designs trading resumes

09:46 EDT Mylan receives WHO prequalification for generic Sovaldi - Mylan (MYL) announced receipt of approval from the World Health Organization Prequalification of Medicines Progra of its application for Sofosbuvir Tablets, 400 mg, a generic version of Gilead Sciences' (GILD) Sovaldi Sofosbuvir, a directly acting antiretroviral, will be available in developing countries to treat hepatitis C.

09:31 EDT Inpixon announces infrastructure refresh deal with beverage distributor - Inpixon announced a major infrastructure refresh deal with a worldwide beverage distributor. The contract, worth over $750,000, involves significant server upgrades designed to improve the beverage distributor's data processing, management capabilities, and operations.

09:30 EDT Anthem says believes stabilization a 'distinct possibility' in ACA markets - Says total individual enrollment of approximately 1.8M members at end of Q2 consist of 1.5M ACA-compliant members and 300,000 non-ACA-compliant members. Says access to affordable and high-quality health care "immensely important and intensely personal" for all Americans. Says state and federal regulatory and legislative changes will likely impact its individual and Medicaid businesses. Says Anthem will continue to contribute in an ongoing discussion in Washington and the states on behalf of its members. Says only participate in ACA where it is confident of with level of predictability of sustainable marketplace, says would further narrow level of participation if uncertainty continues. Says still "many areas" of ACA marketplace uncertainties. Expects to provide additional clarity on its final 2018 market footprint during its Q3 call, if not sooner. Believes stabilization a "distinct possibility" in ACA markets. Comments taken from the Q2 earnings conference call.

09:26 EDT Ford sees Europe profitable in FY17, but below FY16 levels - Cites Brexit, commodity costs for lower profitability.

09:25 EDT Sigma Designs engages financial advisor to explore strategic alternatives - Sigma Designs announced that its board has engaged Deutsche Bank Securities as a financial advisor to assist in its exploration of strategic alternatives that may enhance stockholder value. As previously disclosed, Sigma has been carefully reviewing all of its product lines to determine which offer the best synergistic fit with its long-term growth plans. This review may result in Sigma continuing to implement value-enhancing initiatives as a standalone company, such as the continued implementation of its previously announced restructuring plans, a sale of the company or certain product lines, or other possible transactions. No decision has been made to enter into any transaction at this time, and there is no assurance that the Board's exploration of strategic alternatives will result in any transaction being entered into or consummated. In addition, there is no set timetable for the exploration of strategic alternatives. Sigma Designs does not intend to disclose developments or provide updates on the progress or status of this process unless it approves a specific transaction requiring disclosure or otherwise completes its review.

09:23 EDT Berkshire Hathaway Energy supports Oncor asset swap and rate settlement - Oncor announced that it had entered into an agreement with Texas utility Sharyland to swap assets in a transaction valued at approximately $400M. The transaction has received broad industry and customer support, and Berkshire Hathaway Energy applauds Oncor and the various stakeholders for developing solutions to ensure continued safe, reliable, and affordable service for customers. Oncor also announced that it had reached a proposed settlement in its rate case, which was filed earlier this year. The rate case settlement also garnered wide support within the industry and among consumer groups. The rate settlement contemplates a stronger financial structure for Oncor, with more owner-funded equity to fund proposed projects and investments in the grid. Berkshire Hathaway Energy commends Oncor's efforts to achieve a balanced outcome for customers that helps keep rates among the lowest in Texas and preserves the company's ability to invest in its system at reasonable cost.

09:21 EDT Ford CFO says North America stock levels in 'very, very good shape'

09:17 EDT Seven Stars Cloud Group signs agreement with International Business Holdings - Seven Stars Cloud Group signed a strategic cooperation agreement with International Business Settlement Holdings under SSC's Transactional Finance Product Cloud. According to the Cooperation Agreement, IBS and SSC will partner on several initiatives related to global cross-border settlement and other financial related services using resources and technology from both companies. The partnership between IBS and SSC will promote the application of private cloud technology and blockchain technology by docking the system with central bank's Real-Time Gross Settlement, specifically central bank's whose countries are part of the Belt & Road initiative.

09:17 EDT Coca-Cola says 'on track' to deliver FY guidance - CEO James Quincey notes "weak" consumer environment in Latin America, "some softness" in North America in Q2. Says revenue growth driven by innovation in sparkling. Says Brazil, Argentina, Venezueala remain difficult. Says nearly finished with refranchising efforts. Says rapidly implementing new corporate structure. Says India's new policies will lead to short-term uncertainty. Sees currency as 1-2 point headwind on FY net revenue.

09:16 EDT Coca-Cola sees FY comparable EPS 2c higher than previous guidance - Comment taken from the Q2 earnings conference call.

09:12 EDT Ford says credit segment loss metrics 'remain within expectations' - Comments on Ford Credit from earnings presentation slides.

09:06 EDT Mattel and Babytree launching child-focused learning centers in China - Mattel and Babytree, the world's largest parenting portal, launched the second phase of their strategic partnership, focused on co-developing a network of physical learning centers across China, that will extend their online partnership with curriculum and activities inspired by Mattel's early childhood development brand, Fisher-Price. Combining physical and online offerings, parents will be able to monitor and access their child's progress; register for classes; see videos of their child throughout the day and take home any activities learned in the center for continued learning.

09:03 EDT InfoSonics to acquire Cooltech - InfoSonics and Cooltech Holding Corp. have entered into a definitive merger agreement under which InfoSonics will acquire Cooltech. Cooltech is an Apple licensed partner and reseller that operates as a vertically integrated company combining a distribution business with a retail footprint under its OneClick branded stores. Upon the closing of the merger transaction, Cooltech will become a wholly-owned subsidiary of InfoSonics in exchange for 62.5 million shares of InfoSonics common stock. The merger is subject to approval by the company's shareholders and a number of customary closing conditions and is expected to close in Q4. Contemporaneous with the signing of the merger agreement, Cooltech has signed a binding financing obligation to purchase 2.5 million shares of InfoSonics common stock at a price of 40c per share in cash and warrants exercisable into 2.5 million additional shares of InfoSonics common stock with an exercise price of 48.4c per share. The approximately $1M of proceeds from this private placement will be used by InfoSonics to cover merger costs. InfoSonics also agreed to sell an additional 4.375 million shares of common stock and warrants to purchase an equal number of shares under the same terms.

09:03 EDT ServiceMaster to spin off American Home Shield - ServiceMaster Global Holdings announced its intention to separate its American Home Shield business from its Terminix and Franchise Services Group businesses, as well as the appointment of Nikhil Varty as CEO of the company and as a member of the board, effective immediately. The separation of AHS is expected to result in two publicly traded companies - ServiceMaster and AHS - by means of a spin-off of the AHS business to ServiceMaster shareholders, in a transaction intended to be tax-free. The transaction is expected to be completed in the third quarter of 2018. ServiceMaster will disclose additional information regarding the separation, including historical financial and capitalization information, in a Form 10 registration statement expected to be filed with the Securities and Exchange Commission during the next several months. Both ServiceMaster and AHS remain committed to Memphis, Tennessee, and intend to maintain their headquarters there. Following completion of the separation, each company's board and management team will be able to pursue its distinct strategies, and focus on its own long-term growth and profitability. The separation is expected to result in increased growth opportunities and greater market clarity for both companies.

09:02 EDT ServiceMaster names Nikhil Varty as CEO - ServiceMaster announced the appointment of Nikhil Varty as CEO and as a member of the Board, effective immediately. Gillette is expected to be available to the Company on a transitional basis and to work with Mr. Varty during his remaining time at the Company in order to ensure a smooth transition.

08:59 EDT Orexigen expands distribution agreement for Contrave to Egypt - Orexigen Therapeutics' wholly owned subsidiary, Orexigen Therapeutics Ireland, and Biologix FZCO have amended the commercialization and distributorship agreement for Contrave in the Middle East to include Egypt. With the addition of Egypt, the agreement now spans 11 countries in the Middle East: Egypt, Bahrain, Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Biologix will represent Orexigen in local product registrations and will also be responsible for commercialization activities for all 11 countries. Regulatory applications have been submitted in Kuwait, Lebanon, Saudi Arabia and United Arab Emirates and expects Contrave to be available for patients in these four countries starting in 1Q18.

08:53 EDT D.R. Horton drops 2.7% as conference call enters Q&A

08:51 EDT U.S. Gold provides 2017 Copper King project update - U.S. Gold provided an overall update on its Copper King property located in the Silver Crown mining district of southeast Wyoming. A base case summary of the historic PEA indicates that Copper King will generate Net Cash Flow of $273.7M and has a NPV of $159.5M. Historic reports indicate potential to expand the project beyond its current scope. U.S. Gold Corp. is conducting detailed geophysical studies to confirm the northwest extension target, after which the company intends to develop drill targets, followed by an exploration drill program expected to commence in Fall 2017.

08:46 EDT Diana Shipping announces grounding incident involving m/v Melite - Diana Shipping announced that the employment of one of its Panamax bulk carriers, the m/v Melite, has been temporarily disrupted due to a grounding incident at Pulau Laut, Indonesia. Although the company is still assessing the situation, the crew is in no danger as a result of this incident and there has been no pollution. It appears that the vessel has suffered damage to her hull resulting from the grounding.

08:38 EDT WellCare signs behavioral health home agreement with Georgia HOPE - WellCare of Georgia has partnered with Georgia HOPE to establish a behavioral health home. A behavioral health home is an approach that connects all providers and specialists together to ensure the whole health of an individual is being met. Georgia HOPE, a qualified behavioral health home provider, will provide behavioral health services and ensure collaboration with and linkage to medical services for WellCare's Medicaid members identified as having severe medical and behavioral health issues, including those with a formal diagnosis of serious mental illness, severe emotional disorder or substance use disorder.

08:37 EDT D.R. Horton says 'on track' to deliver all guidance metrics for 2017 - Says "well positioned" for Q4, further growth in 2018. Comments taken from the Q3 earnings conference call.

08:34 EDT Immersion signs multi-year license agreement with Mitsubishi Electric - Immersion Corporation (IMMR) announced it has signed a multi-year license agreement with Tokyo-based Mitsubishi Electric (MTU). Mitsubishi Electric is licensing Immersion's haptics IP for its automotive solutions. Immersion's high-quality touch feedback technology enhances in-vehicle interfaces and applications. Increasingly, haptics is being designed into automotive applications as more and more vehicles incorporate high-quality tactile effects for operations such as entertainment, navigation and climate control.

08:32 EDT Aratana Therapeutics reports 'positive' results for AT-003 - Aratana Therapeutics announced positive results of a pivotal field effectiveness study evaluating AT-003 in cats under an FDA-concurred protocol. Results from the study in client-owned cats undergoing an elective onychectomy showed bupivacaine liposome injectable suspension met protocol-defined efficacy success criteria, which were statistically significant (p less than 0.05). Separately, in June, the Company submitted results from the pivotal safety study to FDA's Center for Veterinary Medicine for AT-003 in cats. Data from both studies will be used to support an application for approval of the therapeutic in cats. In August 2016, Aratana was granted approval from CVM for NOCITA for local post-operative analgesia for cranial cruciate ligament surgery in dogs.

08:32 EDT Second Sight announces market entry into Russia with implant of Argus II - Second Sight Medical Products announced market entry into Russia, implanting the first patient with the company's Argus II Retinal Prosthesis System in Moscow. The implant was facilitated by the country's exclusive distribution partner, Medical Equipment Trading Company. The project was initiated by the Deaf-Blind Support Foundation Con-nection and supported by the Art, Science and Sport Charity Foundation and the Laboratory "Sensor-Tech" from Moscow. The first implant in Russia was performed at the Federal State Institution & Clinical Research Center of the Federal Medico-Biological Agency by a surgical team at the end of June 2017 in Moscow in a 59-year-old patient with Retinitis Pigmentosa. Dr. Paulo Stanga, Ophthalmologist & Vitreoretinal Surgeon at the Manchester Royal Eye Hospital, UK proctored the surgery.

08:31 EDT Dynavax jumps after FDA posts briefing documents for review of Heplisav-B - Shares of Dynavax are jumping in pre-market trading after the FDA posted briefing documents for Advisory Committee Meeting to review the company's Biologics License Application for Heplisav-B. In the documents, FDA staff state: "Heplisav was shown to have a robust immune response in healthy adults 18- 70 years of age in Studies DV2-HBV-10 and-16. Heplisav met pre-specified noninferiority criteria to an active comparator vaccine, Engerix-B, in these two phase 3 clinical trials. Regarding safety, there appear to be imbalances in deaths and SAEs of MI in DV2-HBV-23, and imbalances in AESIs in DV2-HBV-16 and -23. Numbers and rates of events are low, and the lack of prospectively defined monitoring and evaluation of cardiac events limits the causal interpretation of these observations." In pre-market trading, Dynavax shares are up $2.45, or about 25%, to $12.35.

08:27 EDT Gleacher announces extension of wind up period - Gleacher & Company announced that the Delaware Chancery Court granted the Company an extension of the period during which the Company may wind up its affairs under Delaware General Corporation Law through December 31, 2018. As a condition of the extension, the Company must file with the Delaware Chancery Court a report explaining the status of its wind up process every six months until the wind up is completed. The actual wind up period for the Company may be shorter or longer than the period granted and, if additional time is needed to complete the wind up of the Company's affairs, the Company would need to seek an additional extension.

08:26 EDT OpenText to acquire Guidance Software for $7.10 per share in cash - OpenText (OTEX) announced that it has entered into a definitive agreement to acquire Guidance Software (GUID). The acquisition of Guidance is expected to complement the OpenText Discovery portfolio of software and services that provide search, extraction, classification, review and analysis of information, and to broaden OpenText Information Security capabilities through the addition of digital investigation, forensic security, and endpoint solutions. Under the terms of the agreement, a newly formed, wholly-owned subsidiary of OpenText will commence a tender offer for all outstanding shares of Guidance Software for $7.10 per share in cash, for a total equity value of approximately $240M, less Guidance Software's cash, for an enterprise value of approximately $222M. OpenText intends to fund the transaction with cash on hand plus existing short term debt facilities. OpenText intends to commence the tender offer for all of the shares of common stock of Guidance Software within 10 business days. The transaction is expected to close in the third quarter of calendar 2017.

08:20 EDT Amazon to double R&D roles in London in new UK office - Amazon opened the doors to its new UK head office in central London, announcing it will take all 15 storeys and 600,000 sq. ft. of the Principal Place building in Shoreditch so it can double the capacity of its London Development Centre from 450 to 900 high tech staff, as well as house other corporate roles from across the company. By the end of the year, Amazon will have over 5,000 corporate and research and development roles in London across three offices in Shoreditch, Holborn and Barbican supporting its retail, digital entertainment, devices and AWS businesses. This year Amazon has pledged to create 5,000 new permanent roles across the country, bringing its total workforce to 24,000 across its head office, three development centres as well as its fulfilment and customer service centres. These new job opportunities are for people with all types of experience, education and skill levels-from software developers, engineers and technicians, to those seeking entry-level positions and on-the-job training in operations roles. Amazon's London Development Centre, which primarily focuses on research and development for Amazon's global Prime Video service, will have three dedicated floors in the new building, with capacity increasing from the current 450 roles to 900. The new development centre will house teams of software development engineers, user-interface experts, data analysts and graphic designers working to build new technologies for Amazon's Prime Video service.

08:18 EDT ViaSat selected by Northrop Grumman to deliver communications equipment to ADF - ViaSat (VSAT) announced it was selected by Northrop Grumman (NOC) as a key partner in the delivery of a next-generation satellite communications network to the Australian Defence Force. Under a program known as Joint Project 2008 Phase 5B2, a large multiphase project to deploy an integrated wideband SATCOM system for the ADF, ViaSat will provide its proven ground stations and dual-band Wideband Global SATCOM satellite earth terminals.

08:16 EDT Valley National trading resumes

08:11 EDT BioScrip announces passage of HR3178, Medicare Part B Improvement Act of 2017 - BioScrip announced the US House of Representatives passed HR 3178, the Medicare Part B Improvement Act of 2017. The legislation includes, as Section 101, the Home Infusion Therapy Services Temporary Transitional Payment Act. This provision accelerates the implementation of The CURES Act Section 5014, passed in Congress in December 2016, and will result in Medicare payment for home infusion services beginning in January 2019, two years earlier than originally set by Congress. This landmark legislation represents the first time that Medicare provides specific reimbursement for home infusions provided to Medicare beneficiaries.

08:10 EDT D.R. Horton board authorizes repurchase of up to $200M of stock - Subsequent to quarter-end, the Company's Board of Directors authorized the repurchase of up to $200 million of the Company's common stock effective through July 31, 2018, which replaced the prior authorization.

08:08 EDT Valley National to acquire USAmeriBancorp in $816M transaction - In a merger of two banks with a similar focus on personal service and community involvement, Valley National announced that it is expanding its Florida presence and moving into Alabama by acquiring USAmeriBancorp. The companies have entered into a merger agreement in which the common shareholders of USAB will receive 6.1 shares of Valley common stock for each USAB share they own, subject to adjustment in the event Valley's volume-weighted average stock price falls below $11.50 or rises above $13.00 prior to closing. The transaction is valued at an estimated $816M, based on Valley's closing stock price on July 25, 2017. Valley anticipates that the merger with USAB, which will involve changing USAmeriBank's name to Valley National Bank in its Florida and Alabama locations, will be a non-taxable transaction. The combined company is expected to have approximately $28 billion in assets, $21B in loans, $21B in deposits, and 239 branches across New Jersey, New York, Florida, and Alabama. The Boards of Directors of both companies, after extensive review and due diligence, have unanimously approved the transaction. The acquisition is expected to close early in the first quarter of 2018, subject to standard regulatory approvals, shareholder approvals from Valley and USAB, as well as other customary conditions. In connection with this announcement, Valley has commenced a preferred stock offering of approximately $75M. Inclusive of this offering, Valley anticipates this transaction will be accretive to Valley's per share earnings within 12 months from closing.

08:05 EDT BioCardia completes roll-in cohort in Phase III CardiAMP trial - BioCardia announced completion of treatment for the 10-patient roll-in cohort for the pivotal Phase III CardiAMP Heart Failure Trial. A pre-specified review of the 30-day outcomes in this cohort by the Data Safety Monitoring Board is anticipated in the third quarter of 2017. The investigational CardiAMP cell therapy system is designed to deliver a high dose of a patient's own bone marrow cells directly to the region of cardiac dysfunction to stimulate the body's natural healing mechanism after a heart attack. Patients are selected for the investigational treatment, in part, based on biomarkers in their bone marrow that are anticipated to maximize the potential for patient benefit. The CardiAMP Heart Failure Trial is a Phase III, multi-center, randomized, double-blinded, sham-controlled study of up to 260 patients at 40 centers nationwide, which includes a 10-patient roll-in cohort. The trial's primary endpoint is an improvement in six minute walking distance at 12 months post-treatment. In addition, the primary endpoint analysis incorporates the impact of major adverse cardiac events and other clinically meaningful events. The company reaffirms guidance on its IDE submission in calendar year 2017 for a new CardiAMP indication to treat patients post-myocardial infarction. In addition, the company anticipates submitting an investigational new drug application in calendar year 2018 for CardiALLO cell therapy, which utilizes bone marrow-derived mesenchymal cells from a donor to treat heart failure.

08:03 EDT Norfolk Southern reports Q2 operating ratio 66.3%

08:02 EDT Amphenol board raises dividend to 19c from 16c per share - The company's board has approved an increase in the company's quarterly dividend from 16c to 19c per share to be paid on or about October 11, 2017 to holders of record of the company's Class A common stock as of September 18, 2017.

07:53 EDT Penske Automotive increases dividend to 32c per share - Penske Automotive has approved an increase in the cash dividend to 32c per share for Q2. The dividend is payable on September 1 to shareholders of record on August 10.

07:43 EDT Netlist granted favorable decision in patent case - Netlist (NLST) announced the U.S. Court of Appeals for the Federal Circuit vacated and remanded earlier decisions from the U.S. Patent Trial and Appeal Board which invalidated certain claims of Netlist's U.S. 150 Patent and 536 Patent. The '150 and '536 Patents cover fundamental load reduction technologies used in various server memory products such as Load Reduced Dual Inline Memory Modules. In its ruling, the Federal Circuit sided with Netlist on two of the three issues raised on appeal. The Federal Circuit vacated the earlier decisions and remanded the cases back to the PTAB for further proceedings. Netlist has asserted these patents against Western Digital (WDC) company SanDisk and Diablo Technologies as part of a seven-patent lawsuit in the U.S. District Court of the Northern District of California against the ULLtraDIMM product. Netlist ultimately prevailed in the final written decisions from IPRs in five of the seven patents, with negative decisions only on the '150 and '536. Appeals from IPRs filed by SanDisk are still pending before the Federal Circuit.

07:40 EDT Pointer Telocation Cellocator division signs supply agreement in North America - Pointer Telocation announced that its technology division, Cellocator, has signed a long term development and supply agreement with a customer based in North America. The contract is the first substantial contract based on Cellocator's new Nano CelloTrack technology.

07:38 EDT Boeing cuts FY17 effective tax rate view to about 29% from about 31%

07:37 EDT Boeing backs FY17 commercial airplane deliveries view of 760-765

07:35 EDT Boeing reports Q2 backlog grew to $482B - Including $27B of net orders during the quarter.

07:35 EDT General Dynamics reports backlog of $58.6B at end Q2 - General Dynamics' total backlog at the end of second quarter was $58.6B. "There was order activity across the Gulfstream product portfolio and strong demand for defense products, including another quarter of a book-to-bill ratio greater than one-to-one in the Information Systems and Technology group," the company said. The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity contracts and unexercised options, was $24.4B. Total potential contract value, the sum of all backlog components, was $83B at the end of the quarter.

07:34 EDT Boeing raises FY17 commercial airplanes operating margin to greater than 10% - Prior view was 9.5%-10%.

07:33 EDT Boeing raises FY17 operating cash flow view to about $12.25B from $10.75B

07:31 EDT Owens Corning sees FY adjusted EBIT of at least $825M - The company continues to expect an environment consistent with consensus expectations for U.S. housing starts and moderate global industrial production growth. In Roofing, second-quarter volumes remained strong and first-half shingle shipments were up mid-single digits. The company now expects that continued growth in new construction and reroof demand will offset potential declines from storm activity, resulting in a relatively flat market for 2017. In Composites, the business has experienced strong volume performance during the first half of the year. The company now expects EBIT growth of about $30 million, with the improved outlook primarily driven by stronger volume expectations. In Insulation, the company now expects to deliver revenue growth of more than $250 million and EBIT of about $185 million. This improved outlook is driven by successful pricing actions in the U.S. residential Insulation business and the benefit of the Pittsburgh Corning acquisition, partially offset by the greater than expected start-up impact of the recently commissioned mineral wool facility. The company estimates an effective tax rate of 32% to 34%, and a cash tax rate of 10% to 12% on adjusted pre-tax earnings, due to the company's $1.8 billion U.S. tax net operating loss carryforward. The company expects general corporate expenses to be between $135 million and $140 million in 2017. Capital additions in 2017 are expected to total approximately $385 million. Interest expense is expected to be about $110 million. For full-year 2017, the company expects adjusted EBIT of at least $825 million, as growth accelerates in the second half of the year.

07:29 EDT Corning sees Q3 Specialty Materials sales up by low-to-mid teen percentage

07:27 EDT Corning sees Q3 Environmental Tech sales up by low single-digit percentage

07:26 EDT Corning sees Q3 Optical Communications sales up 10%

07:24 EDT Compugen and Bayer suspend collaboration on CGEN-15022 regulator - Compugen (CGEN) announced updates to its collaborative activities in immuno-oncology with Bayer (BAYRY). The agreement with Bayer AG involves the research, development, and commercialization of antibody-based therapeutics against two novel, Compugen-discovered immune checkpoint regulators, CGEN-15001T and CGEN-15022. However, a recently completed joint assessment by Compugen and Bayer of potential drug candidates against the CGEN-15022 target program has suggested that its potential to serve as a key immune checkpoint for the treatment of cancer immunotherapy may be limited and does not justify further investment. Therefore, it has been determined that the current collaboration will focus solely on CGEN-15001T and all rights to CGEN-15022 will be returned to Compugen. The CGEN-15001T program continues to be advanced by Bayer towards human clinical trials.

07:16 EDT Cogentix Medical acquires Genesis Medical - Cogentix Medical announced that it has acquired privately held Genesis Medical based in London, United Kingdom. The transaction is expected to generate incremental revenue to Cogentix during the second half of 2017 of approximately $0.8M and over $2M of incremental revenue in 2018. Genesis sells and markets a variety of products to urologists within the United Kingdom and has been the exclusive U.K. distributor of Cogentix's PrimeSight endoscopy systems since 2013. Under the terms of the acquisition agreement, Cogentix has purchased the tangible assets of Genesis and will pay up to GBP515,000 for the ongoing business, dependent on Genesis achieving certain revenue milestones through March of 2019. During 2016 Genesis Medical generated more than $3M in total revenue and was profitable.

07:13 EDT Midatech Pharma announces completion of MTD119 pre-clinical program - Midatech Pharma announces the successful completion of its pre-clinical program for its wholly-owned candidate MTD119 for advanced liver cancer. The pre-clinical program included three subcutaneous or orthotopic liver cancer xenograft models treated with the active cytotoxic compound maytansine conjugated with Midatech's gold nanoparticle technology. The studies demonstrated potent anti-tumour activity in vivo in all efficacy models. MTD119 will now enter formal investigational new drug application enabling studies, with completion expected in H1 2018. This will be followed by an expected IND submission to the US Food and Drug Administration for first in human studies to commence in 2018.

07:09 EDT Bristol-Myers reports EC approval for Orencia for active psoriatic arthritis - Bristol-Myers Squibb announced that the European Commission has approved ORENCIA alone or in combination with methotrexate for the treatment of active Psoriatic Arthritis in adult patients for whom the response to previous disease-modifying antirheumatic drug therapy, including methotrexate, has been inadequate, and additional systemic therapy for psoriatic skin lesions is not required. This approval, which allows for the expanded marketing of ORENCIA as a treatment for PsA in all 28 Member States of the EU, marks the second new indication for ORENCIA in less than a year. PsA becomes the third autoimmune condition, along with rheumatoid arthritis and juvenile idiopathic arthritis, for which ORENCIA is approved to treat in Europe.

07:05 EDT Tupperware Brands to wind-down Beauticontrol business - Tupperware Brands expects to record $40M-$45M of pretax restructuring costs in 2H17 and, including the 2017 amounts, a total of $100M-$110M through 2018 or 2019, excluding related sales of excess fixed assets through which up to $35M of proceeds are expected to be realized. 2H17 cash outflow related to the restructuring actions, including the wind-down of Beauticontrol, is expected to be about $25M and including this amount the total cash outflow in connection with the actions over time is expected to be $90M-$100M before proceeds from the sale of fixed assets connected with the restructuring actions. After being unsuccessful in finding a buyer for the business, the company has decided to wind-down Beauticontrol's operations over approximately the next 60 to 90 days. It expects a small amount of sales in Q3 as on-hand inventory is sold through, compared with third and fourth quarter 2016 sales of $9.8M and $11.5M, respectively. The reduction in 2017 sales versus 2016 related to the Beauticontrol business is estimated to have a negative 1-percentage point impact on the full year, total company sales comparison. Beauticontrol lost $2.6M in 1H17 and $4.1M in 2H16. The annualized benefit of these actions, once fully implemented, is expected to be in the $35M range with a small amount of benefit in 2017 and about two-thirds of the annualized benefit to be realized in 2018.

07:01 EDT Lear raises FY17 outlook

06:41 EDT Strayer expects Q3 enrollment at Strayer University up 7% - Strayer expects total enrollments at Strayer University for Q3 are anticipated to grow 7% to approximately 41,600 students from 38,813 students for the same period in 2016. New student enrollments are expected to increase approximately 7%, while continuing student enrollments are expected to increase approximately 8%. Revenue per student for Q3 is expected to decrease between 1% and 2%.

06:40 EDT GlaxoSmithKline sees further declines in sales of seretide/advair to 2020 - For the Group specifically, over the period to 2020 GSK expects further declines in sales of Seretide/Advair. The introduction of a generic alternative to Advair in the US has been factored into the Group's assessment of its future performance. The Group assumes no premature loss of exclusivity for other key products over the period. The Group expects at least GBP 6 billion of revenues per annum on a CER basis in 2018 from products launched since 2013 including contributions from the current pipeline asset Shingrix. The assumptions for the Group's revenue and earnings expectations assume no material interruptions to supply of the Group's products and no material mergers, acquisitions, disposals, litigation costs or share repurchases for the Company; and no change in the Group's shareholdings in ViiV Healthcare or Consumer Healthcare. They also assume no material changes in the macro-economic and healthcare environment. The 2017 guidance and 2016-2020 outlook have factored in all divestments and product exits since 2015, including the divestment and exit of more than 130 non-core tail brands as announced on 26 July 2017. The Group's expectations assume successful delivery of the Group's integration and restructuring plans over the period 2016-2020 including the extension and enhancement to the combined programme announced on 26 July 2017. Material costs for investment in new product launches and R&D have been factored into the expectations given. Given the potential development options in the Group's pipeline, the outlook may be affected by additional data-driven R&D investment decisions. The expectations are given on a constant currency basis. Some moderate upward pressure on the Group's effective tax rate is expected over the next few years.

06:38 EDT GlaxoSmithKline comments on new business priorities to 2020 - New priorities to strengthen innovation, improve performance and build trust. Pharmaceutical R&D pipeline reviewed with target over time to allocate 80% of capital to priority assets in two current -- Respiratory and HIV/infectious diseases -- and two potential therapy areas; more than 30 pre-clinical and clinical programmes to be stopped. Extended cost reduction programme expected to deliver additional GBP 1 billion annual cost savings by 2020 driven by new business priorities, improved supply chain efficiency and reduced administrative costs. Enhanced focus on improved cash generation and strengthening credit profile. Dividend of 80p expected for 2018 in conjunction with new dividend policy. Group outlook for 2020: Expected 5 year percentage CAGR to 2020 on a CER basis for sales of low-to-mid-single digits and Adjusted EPS of mid-to-high single digits.

06:36 EDT GlaxoSmithKline reiterates outlook for sales, earnings to 2020 - GSK expects sales to grow at CER at a low-to-mid single digits percentage CAGR and Adjusted EPS to grow at a mid-to-high single digits percentage CAGR for the period 2016-2020. These outlooks are based on 2015 exchange rates and anticipate that at least one version of generic Advair will be launched in the US before 2020. The outlook includes the divestments announced today and those executed since 2015. Given the potential development options in GSK's pipeline, the outlook may be affected by additional data-driven R&D investment decisions.

06:26 EDT Gilat Satellite awarded orders for $11.4M for satellite solutions in Brazil - Gilat Satellite received orders of $11.4M to provide communication solutions and technologies for the satellite-based broadband network, to serve the Brazilian Geostationary Satellite of Defense and Strategic Communications - SGDC. The Brazilian satellite - SGDC is planned to provide fast and affordable broadband communication to commercial and government entities.

06:14 EDT Sanchez Energy reducing 2018 CapEx by $75M-$100M - Sanchez Energy plans to reduce operated rig count from eight drilling rigs to five drilling rigs by the end of September 2017, while maintaining completions and flow back activity levels, which will reduce rate of capital spending for the balance of the year. The company currently anticipates reducing 2018 capital spending by approximately $75M-$100M compared to original estimates. The timing of completions, and therefore initial production, has become more weighted to 2H17 than originally planned. Now anticipates that production growth to approximately 90,000-100,000 Boe/d projected for year end 2017 will be realized in the first half of 2018, even with reduced 2018 spending levels.

06:13 EDT TRI Pointe expects to open 10 new communities in Q3 - For the third quarter of 2017, the Company expects to open 10 new communities, and close out of 19, resulting in 122 active selling communities as of June 30, 2017. In addition, the Company anticipates delivering approximately 50% to 55% of its 2,108 units in backlog as of June 30, 2017 at an average sales price of approximately $570,000. The Company anticipates its homebuilding gross margin percentage to be in a range of 19.0% to 20.0% for the third quarter.

06:12 EDT TRI Pointe announces Q2 new home orders of 1,445, up 15% - Reports new home orders of 1,445 compared to 1,258, an increase of 15%.;Active selling communities averaged 126.8 compared to 119.5, an increase of 6%; New home orders per average selling community were 11.4 orders (3.8 monthly) compared to 10.5 orders (3.5 monthly); Cancellation rate of 15% compared to 13%, an increase of 200 basis points;Backlog units at quarter end of 2,108 homes compared to 1,798, an increase of 17%; Dollar value of backlog at quarter end of $1.3 billion compared to $1.0 billion, an increase of 31%; Average sales price in backlog at quarter end of $635,000 compared to $571,000, an increase of 11%.

06:08 EDT Guidance Software to be acquired by OpenText in transaction valued at $240M - Guidance Software (GUID) has entered into a definitive agreement to be acquired by OpenText (OTEX). Under the terms of the merger agreement, OpenText will commence a tender offer to acquire all outstanding shares of Guidance Software common stock in a transaction valued at approximately $240 million. Subject to the terms and conditions of the offer, Guidance stockholders will receive $7.10 per share in cash for each outstanding share of common stock held. "Our board of directors has carefully evaluated the merger proposal by OpenText and believes it represents the best value reasonably attainable for our stockholders and will benefit our customers and employees," said Patrick Dennis, Guidance president and CEO. "We believe this all-cash transaction offers our stockholders liquidity and certainty of value. Joining with OpenText is a new beginning for Guidance products, customers and employees." The merger has been unanimously approved by the Board of Directors of Guidance and is expected to close in the third quarter of calendar 2017. Consummation of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals and the tender of a majority of the shares of Guidance Software common stock in the offer. Morgan Stanley and Atlas Technology Group are serving as financial advisors and Latham & Watkins is acting as legal counsel to Guidance.

06:06 EDT D.R. Horton sees Forestar deal closing in 1Q18 - On June 29, 2017, D.R. Horton (DHI) entered into a definitive merger agreement with Forestar Group (FOR), a publicly-traded residential real estate development company, to acquire 75% of the currently outstanding shares of Forestar for $17.75 per share in cash or approximately $560 million of total cash consideration. The strategic relationship between D.R. Horton and Forestar will significantly grow Forestar into a large, national residential land development company, selling lots to D.R. Horton and other homebuilders. Forestar will remain a public company with access to the capital markets to support its future growth. The proposed merger accelerates D.R. Horton's strategy of expanding its relationships with land developers and ultimately increasing the optioned portion of its land and lot position to enhance operational efficiency and returns. The transaction is expected to close during the Company's first quarter of fiscal 2018, subject to the approval of Forestar shareholders and other customary closing conditions.

05:58 EDT Amazon says has over 50,000 jobs available across U.S. fulfillment network - Amazon announced it has more than 50,000 roles available to fill across its U.S. fulfillment network. Amazon is hiring for tens of thousands of full-time opportunities at its fulfillment centers across the U.S. for employees who will pick, pack and ship customer orders. These opportunities offer highly-competitive pay, health insurance, disability insurance, retirement savings plans and company stock. The company also offers up to 20 weeks of paid leave and innovative benefits such as Leave Share and Ramp Back, which give new parents flexibility with their growing families. Leave Share lets employees share their Amazon paid leave with their spouse or domestic partner if their spouse's employer doesn't offer paid leave. Ramp Back gives new moms additional control over the pace at which they return to work. More than 10,000 of these opportunities will be part-time jobs at the company's sortation centers throughout the US. These positions will sort and consolidate customer packages to enable superfast shipping speeds and Sunday delivery for customers.

05:26 EDT TRACON Pharmaceuticals, Santen initiate Phase 2a study of DE-122 - Santen Pharmaceutical and TRACON Pharmaceuticals announced that Santen has initiated a Phase 2a clinical study of DE-122 in patients with wet age-related macular degeneration, or AMD. The Phase 2a study is a randomized controlled trial assessing the efficacy and safety of intravitreal injections of DE-122 in combination with Lucentis compared to Lucentis monotherapy in patients with wet AMD. DE-122 is the ophthalmic formulation of TRACON's proprietary anti-endoglin antibody, TRC105. The initiation of the Phase 2a study triggers a $7M milestone payment from Santen to TRACON.