Stockwinners Market Radar for August 03, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:11 EDT Osisko Gold Royalties raises quarterly dividend 25% to C$0.05 - Osisko Gold Royalties declared a third quarter 2017 dividend of C$0.05 per common share. This third quarter dividend payment represents a 25% increase from the previous quarterly dividend of C$0.04 per common share. The dividend will be paid on October 16, 2017 to shareholders of record as of the close of business on September 30, 2017.

18:39 EDT Sempra Energy's Mexican subsidiary and Valero to build liquid fuels facilities - Sempra Energy's (SRE) Mexican subsidiary, Infraestructura Energetica Nova, signed long-term contracts with a subsidiary of Valero Energy (VLO) for the storage capacity of the liquid fuels marine terminal to be constructed in Veracruz and two inland storage facilities to be constructed in Puebla and Mexico City. The three liquid fuels projects represent an estimated capital investment of $275M. These facilities are IEnova's first ventures in Mexico's emerging $10B liquids market. The two storage terminals to be built and operated by IEnova in Puebla and Mexico City will have initial storage capacities of approximately 500,000 barrels and 800,000 barrels, respectively. IEnova expects the two inland storage terminals to be put in service in 2019, and the marine terminal, at the end of 2018. After commercial operations, Valero will have the option to acquire 50% of the equity in all three assets.

18:22 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Yelp (YELP), up 18.3%... Weight Watchers (WTW), up 14.6%... Spectrum Pharmaceuticals (SPPI), up 13.9%... Arista Networks (ANET), up 13.1%... GoPro (GPRO), up 12.7%... Allscripts (MDRX), up 12.2%... PDL BioPharma (PDLI), up 10.6%... MagnaChip (MX), up 9.7%... Etsy (ETSY), up 8.2%... Western Union (WU), up 4.7%... Neurocrine Biosciences (NBIX), up 3.2%... Uniti Group (UNIT), up 2.8%. ALSO HIGHER: Amyris (AMRS), up 10.4% after it announced an agreement for $50M in a second tranche of equity financing. DOWN AFTER EARNINGS: Applied Optoelectronics (AAOI), down 25.9%... ConforMIS (CFMS), down 24.1%... Impinj (PI), down 21.7%... Autobytel (ABTL), down 19.5%... Natural Grocers (NGVC), down 16.5%... Synaptics (SYNA), down 13.7%... Infinera (INFN), down 11.9%... Bio-Rad (BIO), down 10.9%... Fluor (FLR), down 10%... Carbonite (CARB), down 9.9%... Viacom (VIA), down 7.4%... Noble Corp (NE), down 4.1%... SM Energy (SM), down 3.1%... Activision Blizzard (ATVI), down 1.2%. ALSO LOWER: Electronics for Imaging (EFII), down 17.9% after it postponed its quarterly earnings conference call in order to enable the company to "complete an assessment of the timing of recognition of revenue."

18:07 EDT Viacom says sees 'solid momentum' coming out of U.S from upfronts - Viacom sees "solid momentum" coming out of the U.S. upfronts, "which resulted in volume growth and mid- to high-single digit CPM increases across the board," said management during its Q3 earnings call.

18:02 EDT Viacom sees delay in June payment from Chinese studio HuaHua - While speaking on its Q3 earnings call, the company updated its financing deal with its Chinese partner HuaHua. Viacom management said that its June payment from HuaHua has been delayed and as a result of the delay Viacom decided not to book any impact of the deal in the quarter. "The deal continues to be in effect and we view HuaHua media's acquisition by Oriental Times Media we know well as a positive. I would also like to the reiterate that we've been in business with HuaHua for a long time and may have and continue to be a valuable strategic operational and financial partner," added company management. "

17:53 EDT Viacom reduced ad loads in Q3 to improve "viewer experience" - Viacom noted on its Q3 earnings call that price increases were more than offset by lower impressions. Viacom decided to reduce ad loads in the quarter at a number of its networks in order to improve the viewer experience. " If you exclude the impact of these unit load reductions, domestic ad sales would have been up 1% in the quarter. The 17% decline in domestic ancillary revenue to $71M was principally driven by the timing of revenue associated with consumer products arrangement as well as our decision to rest the Teenage Mutant Ninja Turtles franchise ahead of its relaunch in 201," said Viacom management. Comments were made during the company's quarterly earnings conference call.

17:37 EDT SM Energy sees Q3 production 10.8-11.2 MMBoe - Which will vary depending upon the ultimate timing of capital activity, at approximately 29-30% oil in the commodity mix.

17:35 EDT SM Energy increases FY17 production view to 44.5-46.5 MMBoe - Guidance reflects expected significant oil growth in the second half of 2017.

17:33 EDT Boeing awarded $409M government contract - Boeing Co., Hazelwood, Missouri, has been awarded a not-to-exceed $409M indefinite-delivery/indefinite-quantity contract for next-generation thermal, power, and controls. This contract for the NGT-PAC program is a multiple government agency and industry joint effort to develop revolutionary and innovative technologies and to conduct applied research for increased knowledge and understanding of future power, thermal and controls requirements. Work will be performed in Hazelwood, Missouri, and is expected to be completed by July 2024. This award is the result of a competitive acquisition and seven offers were received. Fiscal 2017 research and development funds in the amount of $101,401 are being obligated at time of award. Air Force Research Laboratory, Wright- Patterson Air Force Base, Ohio, is the contracting activity.

17:30 EDT Alliant Energy announces major wind investment - Alliant Energy's Iowa energy company is pursuing another major wind investment that will help solidify Iowa's national leadership in renewable energy. Alliant Energy is seeking approval from the Iowa Utilities Board to add up to 500 megawatts of wind energy in Iowa. A decision is expected in early 2018. The company received approval in 2016 for a similar expansion. The combined projects would represent a $1.8B investment and add up to 1,000 megawatts of new wind generation in Iowa. That's enough to power up to 430,000 Iowa homes a year. As a result, wind is expected to be more than one-third of the company's Iowa energy mix in 2020.

17:30 EDT Juno backs FY17 cash burn view of $270M-$300M

17:26 EDT Gastar Exploration sees FY17 net average daily production 6.2-6.8 Mboe/d - Sees iol percentage 72%-75%.

17:21 EDT Ryerson sees gross margins stabilizing - "Although the outcome of the Section 232 investigations involving steel and aluminum imports to the U.S. market are not yet known, gross margins are expected to stabilize as replacement costs that peaked in the second quarter appear to be moderating. Global supply and demand fundamentals appear to be firming; the U.S. dollar has retraced from post-election highs while imports appear to be hitting a soft pocket in the third quarter of 2017 as compared to the second quarter of 2017. Demand patterns remain generally positive for our key end markets compared to last year, and Ryerson anticipates these conditions to continue into the third quarter. If average inventory costs reset and realign with market prices over the next several quarters without negative inflections in key drivers, Ryerson expects its commercial, expense, and inventory management efforts to lead to gross margin stabilization as the third quarter progresses."

17:12 EDT Revance backs FY17 cash burn view $102M-$112M

17:10 EDT Intricon supports FDA reauthorization act - IntriCon Corporation announced that the U.S. Senate today passed H.R. 2430, the U.S. Food and Drug Administration Reauthorization Act, which includes the Over-the-Counter Hearing Aid Act of 2017. On July 12, the House of Representatives passed H.R. 2430 by voice vote. The bill now heads to the White House for President Trump's signature. The legislation will make hearing aids available over the counter for those with mild to moderate hearing loss. It will also require the FDA to write regulations ensuring that this new category of over-the-counter hearing aids meets the same high standards for safety, consumer labeling and manufacturing protections as all medical devices, providing consumers the option of an FDA-regulated device at lower cost. Said Mark S. Gorder, IntriCon's president and chief executive officer, "This is a significant milestone in hearing health and device access, that has received broad bipartisan support. We believe that this legislation has the potential to remove the significant barriers existing today that prevent innovative hearing health solutions. Moreover, we feel that it will invigorate competition, spur innovation and facilitate the development of an ecosystem of hearing healthcare that provides affordable and accessible solutions to millions of unserved or underserved Americans. Equally important, the Over-the-Counter Hearing Aid Act aligns with our efforts to establish a new direct-to-consumer distribution through Hearing Help Express."

17:08 EDT Bristow Group suspends quarterly dividend - Bristow Group has suspended its quarterly dividend of 7c per share, which will preserve approximately $10M on an annualized basis. CEO Jonathan Baliff stated, "(...) in light of the continuing industry downturn and in keeping with our long standing capital allocation strategy, we determined that prudent balance sheet management is of utmost importance in protecting the interests of all stakeholders, The suspension of the quarterly dividend provides the company with increased financial flexibility to weather this extended downturn."

17:05 EDT Tecnoglass promotes Santiago Giraldo to CFO - Tecnoglass announced that the company's board of directors has promoted Santiago Giraldo to the position of Chief Financial Officer, effective immediately. In his new role, Mr. Giraldo will assume responsibility of the Company's global finance organization, including corporate finance, accounting, tax and SEC reporting, as well as business development initiatives.

17:04 EDT Noble Corp. reports contract backlog of $3.2B at June 30 - At June 30, 2017, the company's contract backlog totaled $3.2 billion with an estimated $1.9 billion derived from the floating rig fleet and $1.3 billion from the jackup rig fleet. Approximately 51 percent of the available rig operating days remaining in 2017 are committed to contracts, including 32 percent of the floating rig fleet and 69 percent of the jackup fleet, representing approximately $468 million in gross revenues. In 2018, 37 percent of available operating days are committed to contracts, including 29 percent and 46 percent of the floating and jackup rig days, respectively, and equating to an estimated $825 million in gross revenues.

16:59 EDT First Data, FleetCor terminate JV agreement - First Data (FDC) and FleetCor (FLT) announced that they have terminated the joint venture agreement they entered in March 2017. That agreement would have combined the gift card businesses of both parties. No termination fees will be payable by either company in connection with the termination of the joint venture agreement.

16:53 EDT California Resources sees FY17 Capital Program roughly $400M - CRC continued to increase its rig count in the second quarter of 2017 and ended the quarter operating seven rigs. One rig was focused on steamfloods, two rigs on shales, one rig on waterfloods and three rigs on conventional reservoirs. CRC expects one of these rigs will be used for exploration in the second half of the year. An additional rig is anticipated to start up in the third quarter to work on steamfloods for the rest of the year. With capital from two joint ventures, CRC expects a total 2017 capital program of approximately $400 million. CRC's capital program reflects approximately $17 million in efficiencies and cost savings identified year to date. CRC's 2017 capital program will focus on core fields - Elk Hills, Wilmington, Kern Front, Buena Vista, Mt. Poso, Pleito Ranch, Wheeler Ridge and the delineation of Kettleman North Dome. CRC has recently closed the second round of funding with BSP and expects the joint ventures to allow CRC to maintain at least a six-rig program for the balance of the year.

16:50 EDT RTI Surgical divests cardiothoracic closure business in up to $60M deal - RTI Surgical announced that it has sold its cardiothoracic closure business to A&E Advanced Closure Systems, LLC, a cardiovascular medical device OEM and a portfolio company of Vance Street Capital LLC, for $54M in cash plus an additional $6M in contingent cash consideration. Concurrent with the sale of the business, RTI has entered into a multi-year Contract Manufacturing agreement whereby RTI will continue to support the cardiothoracic business under A&E Medical's ownership through the manufacturing of existing products and the engineering, development and manufacturing of potential future products. RTI intends to use the proceeds from the sale to pay down a portion of its term loan as it extends the maturity of its existing credit facility through September 2019.

16:48 EDT Aratana Therapeutics says cash to fund operations through at least 2018 - "The Company believes that its existing cash, cash equivalents, short-term investments and restricted cash of $80.7 million as of June 30, 2017 will allow Aratana to fund the current operating plan and debt obligations through at least 2018. The Company's current operating plan contemplates the launch of ENTYCE by the fall of 2017, as well as continued growth of our commercially available therapeutics."

16:44 EDT Summit Midstream lowers FY17 adjusted EBITDA view to $285M-$300M - Previous guidance was $295M-$315M. Also lowers FY17 CapEx view to $125M-$150M.

16:40 EDT MasTec raises FY17 outlook

16:38 EDT McKesson CFO James Beer joins Alaska Air board of directors - Alaska Air Group (ALK), the parent company of Alaska Airlines, Virgin America and Horizon Air, announced the appointment of James Beer, executive vice president and CFO of McKesson (MCK), to the company's board of directors. Beer will join the compensation and leadership development and safety committees. Previously, Beer served as the executive vice president and CFO of Symantec (SYMC), where he managed the organization's worldwide finance organization responsible for financial planning and analysis, treasury, corporate development, accounting, tax, purchasing and investor relations.

16:35 EDT ConforMIS trading resumes

16:31 EDT j2 Global raises quarterly dividend by 1c to 38.5c - j2's board approved a quarterly cash dividend of 38.5c per common share, a 1c, or 2.7% increase versus last quarter's dividend. The dividend will be paid on September 1, to all shareholders of record as of the close of business on August 14.

16:29 EDT AZZ appoints Ken Lavelle as President and General Manager Electrical Systems - AZZ Inc. has appointed Ken Lavelle as President and General Manager - Electrical System Division of AZZ Inc. Lavelle has served as a consultant to the company from April 2016 to July 2017. Prior to his role as a consultant, he held several positions with Flowserve Corporation in Irving, Texas, serving as President - Seal Platform.

16:28 EDT Zendesk names Tom Keiser as COO - Zendesk announced the appointment of Tom Keiser as Chief Operating Officer. Keiser has served as its Chief Information Officer and senior vice president of technology operations since May 2016.

16:26 EDT Air Lease, Naprier Park Global Capital establish joint venture - Air Lease Corporation announced that a wholly-owned subsidiary of the company entered into a joint venture with a co-investment vehicle arranged by Napier Park Global Capital for the purpose of investing in commercial aircraft and leasing them to airlines worldwide. The newly formed entity is named Blackbird Capital II LLC and 90.5% of the equity is owned, through the JV Partner, by a pooled investment vehicle of long-term institutional investors managed by Napier Park. The company owns 9.5% of the joint venture and will not consolidate the entity.

16:24 EDT Callaway Golf sees FY17 gross margin up 60 bps from prior estimate - The Company currently estimates that its 2017 gross margin will improve 60 basis points from the prior estimate. This increase is expected to be driven by continued favorable pricing, mix and operational efficiencies. The Company estimates that its 2017 non-GAAP operating expenses will decrease $2M compared to prior estimates.

16:20 EDT Applied Genetic announces FDA orphan drug designation for gene therapy - Applied Genetic Technologies Corporation announced that the FDA has granted an orphan drug designation for its gene therapy product candidate for the treatment of X-linked retinitis pigmentosa caused by mutations in the RPGR gene. In June 2016 the company announced that the European Commission granted orphan medicinal product designation for the same indication.

16:18 EDT Callaway Golf to acquire TravisMathew for $125.5M in an all-cash transaction - Callaway Golf announced it has entered into a definitive agreement to acquire TravisMathew, a high-growth golf and lifestyle apparel company, for $125.5M in an all-cash transaction, subject to a working capital adjustment. The acquisition is subject to customary closing conditions, including securing regulatory approvals, and is expected to close in the third quarter of 2017. Post-acquisition, TravisMathew will continue to operate out of its Huntington Beach, California headquarters. The purchase price values TravisMathew at a multiple of approximately 11.8 times projected 2017 full year adjusted EBITDA. Callaway also expects to realize significant value from potential tax benefits associated with the transaction. In 2017, TravisMathew's net sales are expected to be in the range of $55-60 million, of which approximately $10-15 million will contribute to Callaway's 2017 second half financial results assuming the transaction closes in the third quarter of 2017. Including approximately $5 million of estimated transaction expenses and incremental non-cash expense resulting from the acquisition purchase accounting adjustments, TravisMathew is expected to be approximately $0.04 dilutive to Callaway's 2017 earnings per share but is expected to be slightly accretive in 2018 after taking into account anticipated financing costs and incremental investment in the business to support future growth. Callaway intends to finance the transaction with cash on hand and borrowings from its asset-backed credit facilities. Latham & Watkins LLP acted as legal counsel and Lazard acted as financial advisor to Callaway. Baker & Hostetler LLP acted as legal counsel and Moss Adams Capital LLC and Optivest IB acted as financial advisor to TravisMathew.

16:14 EDT Etsy sees Q3 GMS growth to be higher than Q2

16:12 EDT Viacom CEO: Company strengthened top line in Q3 - Bob Bakish, President and Chief Executive Officer, said, "In the third quarter, Viacom strengthened its top line, with growth in advertising and affiliate revenues and gains across its Filmed Entertainment segment, while continuing to execute on a strategic plan to reinvigorate our brands, break down silos, deepen our relationships with business partners and reposition Paramount for the future. Among other recent successes, the Company entered into an unprecedented distribution and data partnership with Altice USA, secured a significant cross-platform talent agreement with award-winning writer, director and actor Tyler Perry and recorded quarterly year-over-year ratings growth across our Media Networks portfolio, with strong momentum at our flagship networks, including MTV. We also further delevered our balance sheet by redeeming over $1 billion of outstanding debt and completing the sale of our substantial interest in EPIX. Every day we are working hard to reinvent Viacom and revitalize its brands for the future, and the early, tangible results are encouraging. There remains much work to be done, but we will continue to build on this progress for our shareholders, partners and fans."

16:09 EDT GrubHub reports Q2 active diners 9.18M, up 25% y/y - Second Quarter Key Business Metrics Highlights: Active Diners were 9.18 million, a 25% year-over-year increase from 7.35 million Active Diners in the second quarter of 2016. Daily Average Grubs were 313,900, a 16% year-over-year increase from 271,100 DAGs in the second quarter of 2016. Gross Food Sales were $880 million, a 20% year-over-year increase from $733 million in the second quarter of 2016.

16:08 EDT Wingstop initiates quarterly dividend - In recognition of the company's strong cash flow generation, confidence in the business, and commitment to returning value to shareholders, Wingstop's board has authorized and declared an initial quarterly dividend of 7c per share of common stock, totaling approximately $2.0M. This dividend will be paid on September 18 to shareholders of record as of September 3.

16:04 EDT Kraft Heinz raises quarterly dividend 4.2% to 62.5c per share - The Kraft Heinz Company announced that its board of directors approved an increase in the company's quarterly dividend to 62.5c per share of common stock, or $2.50 per share of common stock on an annual basis. This represents an increase of approximately 4.2% versus the prior quarterly dividend rate of 60c per share, or $2.40 on an annual basis. The dividend declared today is payable on September 15, 2017 to shareholders of record as of August 18, 2017.

15:50 EDT Enanta sees receiving $40M milestone payment from AbbVie - Enanta Pharmaceuticals (ENTA) announced that the U.S. Food and Drug Administration approved AbbVie's (ABBV) MAVYRET, a once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus infection across all major genotypes. MAVYRET is an 8-week, pan-genotypic treatment for patients without cirrhosis and new to treatment. Up to 95 percent of HCV patients in the U.S. may be eligible for treatment with MAVYRET, including patients with compensated cirrhosis or without cirrhosis, and those with limited treatment options, such as patients with chronic kidney disease. Following this approval of MAVYRET in the U.S., Enanta expects to receive a $40M milestone payment from AbbVie.

15:30 EDT AbbVie: MAVYRET approval shows 'commitment' to advancing science - AbbVie announced that the U.S. Food and Drug Administration approved MAVYRET, a once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus infection across all major genotypes. MAVYRET is an 8-week, pan-genotypic treatment for patients without cirrhosis and who are new to treatment. Up to 95 percent of HCV patients in the U.S. may be eligible for treatment with MAVYRET, including patients with compensated cirrhosis or without cirrhosis and those with limited treatment options, such as patients with chronic kidney disease. "With MAVYRET, physicians and patients now have a treatment option that is highly effective and has the potential to cure the majority of HCV patients in as short as 8 weeks, regardless of genotype," said Michael Severino, M.D., executive vice president, research and development and chief scientific officer, AbbVie. "The approval of MAVYRET demonstrates AbbVie's commitment to advancing science to help address unmet needs by delivering a new cure for patients who historically had limited treatment options, including those with genotype 3 HCV, individuals with CKD and certain DAA failure patients."

15:24 EDT Aetna CEO says 'easy' to fix ACA if DC would get over politics

15:22 EDT Axon request for inter partes review of Digital Ally patent claims denied - The USPTO's Patent Trial and Appeal Board has denied Axon Enterprise's petition requesting inter partes review of claims 1, 3, 4, 7, and 8 of the '452 patent held by Digital Ally (DGLY), stating that the information presented in the petition does not establish a reasonable likelihood that petitioner would prevail in showing the unpatentability of any of the challenged claims. Digital Ally shares, which briefly spiked on the first reports of the PTAB decision, remain up about 3.5% at $3.67 in afternoon trading.

15:20 EDT Aetna CEO seeing positive economic environment for healthcare - The Aetna CEO is speaking in a CNBC interview.

15:13 EDT Constellium jumps 8% to $9 per share after report of takeover interest

15:12 EDT Gilead at lows, down 1.4% after FDA approves AbbVie's Mavyret - Mavyret was approved to treat adults with chronic hepatitis C virus genotypes 1-6 without cirrhosis or with mild cirrhosis.

14:31 EDT Hawaiian Electric trading resumes

14:11 EDT Black Mountain in supply pact with Diamondback Energy - Black Mountain announced that the company has entered into a new multi-year supply contract with Diamondback Energy beginning in early 2018. This agreement will ensure Diamondback's long-term continuity of frac sand supply through committed capacity of Black Mountain's two 4 million tons per year facilities and 1.5 billion tons of in-basin frac sand reserves. Black Mountain will dedicate a substantial portion of its Permian mine capacity to Diamondback, providing a single, secure source of in-basin 100 mesh and 40/70 frac sand supply. Black Mountain has accumulated nearly 30,000 acres of quality sand reserves with strategic road access, abundant water supply, and avoidance of the dune sagebrush lizard habitat. As the largest in-basin sand company, Black Mountain's unrivaled acreage position and 2018 mining capacity of over 8 million tons will help meet Diamondback's rapidly expanding frac sand demand. In addition, the strategic position of Black Mountain's acreage, within trucking distance of Diamondback's Midland and Delaware acreage, will significantly streamline cumbersome logistics components in the value chain. This will allow Diamondback to create a flexible supply chain and secure frac sand at the lowest delivered cost in the Permian Basin.

13:54 EDT Stephens says sell TransDigm on structural changes, competition - In a research note to investors this morning, Stephens analyst Drew Lipke downgraded TransDigm (TDG) to Underweight, a sell-equivalent rating, on long-term concerns given structural changes and as competition increases within the commercial aftermarket. SELL TRANSDIGM: Stephens' Lipke downgraded TransDigm to Underweight from Equal Weight, with a $230 price target, saying that while the company has been the most successful and profitable within the aerospace and defense sector over the last decade, structural changes and competition within the commercial aftermarket will drive returns lower in the years ahead. This coupled with a reliance on low-cost debt, the evolving acquisition landscape, succession risk, and premium valuation to historical levels has created an "unfavorable" risk/reward, the analyst contended. Lipke pointed out, however, that he is not making a call into the company's quarterly report on August 8. His greatest concern is around declining organic volume growth over the last four years, the analyst said, adding that he has seen a number of commercial aftermarket peers report second quarter results and the strength has been driven primarily by initial provisioning, with core MRO and interior modifications weaker than anticipated. Moreover, he argued that commercial aftermarket trends do not match TransDigm's organic volume growth. Additionally, Lipke highlighted concerning customer relationships, saying the company is often "thought of as a problem" in the aftermarket supply chain by its airline customers. MORE BULLISH TAKE: Conversely, Jefferies analyst Sheila Kahyaoglu raised her price target for TransDigm Group to $322 in a research note previewing the company's Q3 results. The analyst forecasts a "solid" quarter for TransDigm's defense business. She thinks aftermarket volumes "may continue to be lumpy" despite "fairly high" expectations for the end markets. The analyst believes profitability will continue to provide upside and keeps a Buy rating on TransDigm. WARREN URGES PROBE: Massachusetts Senator Elizabeth Warren sent a letter to the U.S. Department of Defense urging an investigation into TransDigm's pricing model following similar requests by other U.S. representatives, CNBC reported on June 12. PRICE ACTION: In afternoon trading, shares of TransDigm have dropped almost 1% to $280.15.

13:23 EDT Rockwell Collins announces five-year, $37.4B U.S. Army contract - Rockwell Collins announced that it will be providing its ARINC knowledge-based support services as part of a five year, $37.4B Command, Control, Communications, Surveillance and Reconnaissance Responsive Strategic Sources for Services contract awarded by the U.S. Army. The contract has a five-year renewable option. Under the terms of the agreement, the company will provide aviation-based command and control products, global networks and engineering services to U.S. government agencies and organizations, and will deliver continuous and uninterrupted worldwide operational C2 and engineering.

13:14 EDT Teva interim CEO says board has approved reduction in cash dividend by 75% - Interim President and CEO Yitzhak Peterburg said on Teva's (TEVA) Q2 earnings conference call that Q2 results were "greatly" impacted negatively by competitive pressures in U.S. generics and continued deterioration in Venezuela. Peterburg said the company has seen an acceleration in generic drug approval by FDA, which Teva expects will persist. Still sees ability to generate approximately $500M from new products. Says situation in Venezuela "greatly deteriorated" in Q2, currency has been significantly devaluated; as a result, Teva expects to have no contribution from its buess in Venezuela to earnings in the last two quarters. Expects to close or divest six plants in 2017, nine plants in 2018. Sees $1.6B in net synergies from Actavis (AGN) deal. Says reviewing noncore activities, "solely focused" on core activities. Sees $2B in proceeds from asset sales, sees closing deals within "a few months." Peterburg says that by the end of 2017, Teva will have reduced its headcount by 7,000 people. Says board has approved reduction in cash dividend by 75% to 8.5c. Comments taken from the company's Q2 earnings conference call.

13:14 EDT AvalonBay says development delays impacting profitability

12:55 EDT Infosys to acquire London-based Brilliant Basics; terms not disclosed - Infosys announced a definitive agreement to acquire Brilliant Basics, a London-based product design and customer experience innovator known for its world-class design thinking-led approach and experience in executing global programs. The acquisition is expected to close during the second quarter of fiscal 2018, subject to customary closing conditions.

12:30 EDT Occidental Petroleum trades lower after Andrew Hall closes Astenbeck - According to various media outlets, oil trader Andrew Hall is shuttering his main hedge fund Astenbeck Capital. Astenbeck Capital was said to be an investor in Occidental Petroleum.

12:17 EDT Discovery targets car enthusiasts with TEN JV, has option for 100% stake - Discovery Communications announced that it has agreed to form a new consolidated joint venture with TEN: The Enthusiast Network. The venture will bring together Discovery's Velocity channel, and TEN's entire automotive digital, direct-to-consumer, social and live event portfolio including industry leading brands Motor Trend, Hot Rod, Roadkill, Automobile, and more than 20 others. The venture will create a "top" automotive media company in the U.S. and an unrivaled destination for automotive enthusiasts, auto buyers and advertisers looking to reach this high-quality audience on all screens and platforms. Discovery will take a majority controlling interest in the venture."Continuing with Discovery's strategy to reach superfans on all platforms in popular and durable content categories, this joint venture brings together the most trusted media brands in the automotive industry to create a multiplatform business with the reach, talent, and consumer insights to nourish car enthusiasts on all devices," said David Zaslav, President and CEO, Upon closing of the transaction, the venture, to be called TEN: A Discovery Communications, will offer advertisers a unified offering with a combined reach of more than 150M automotive superfans, car buyers and a quality male audience." Discovery will have an option to acquire 100% of the new venture.

12:10 EDT Discovery in partnership with the Enthusiast Network - The Enthusiast Network or TEN owns such automotive publications as Motor Trend, Automobile and Hot Rod.

12:00 EDT FreightCar America says not seeing any demand change for coal cars - Company's in the coal space include, Cloud Peak (CLD), CONSOL(CNX) CNX Coal Resources (CNXC) and Westmoreland Resource Partners (WMLP)

11:52 EDT Battleground: Bulls, bears stay split on Tesla after results - Shares of Tesla (TSLA) are on the rise after the electric carmaker reported quarterly losses that were not as steep as expected. While some Wall Street analysts saw the quarterly results as positive, some voiced a more cautious opinion given softer than expected third quarter guidance. RESULTS: Last night, Tesla reported second quarter losses per share of ($1.33) and revenue of $2.79B, both better than the expected ($1.80) and $2.55B, respectively. The company also said that Model 3 production is on track to achieve targets, with deliveries to non-employees beginning in the fourth quarter. Tesla noted that it delivered 22,026 Model S and Model X vehicles in second quarter, for a total of 47,077 in the first half of the year. "The combined non-GAAP gross margin for Model S and Model X in Q3 will decline slightly from the second quarter, driven primarily by mix shift. Additionally, during the initial phase of the Model 3 ramp in third quarter, the volume produced will be tiny relative to the installed production capacity. As a result, Model 3 gross margin will be temporarily impacted by the excessive allocation of labor and overhead costs and depreciation over this tiny volume. As capacity utilization improves, Model 3 non-GAAP gross margin is expected to be positive in fourth quarter, and should improve rapidly in 2018 to our target of 25%," the company added. MORE POSITIVES THAN NEGATIVES: In a post-earnings research note, Piper Jaffray analyst Alexander Potter reiterated an Overweight rating on Tesla and raised his price target on the shares to $386 from $368. The analyst told investors that there are "too many good vibes to consider bailing now," while noting that the company has achieved several "impressive milestones." Further, Potter believes operating metrics are improving. Meanwhile, his peer at Citi argued in a note of his own that he sees "far more positives than negatives" in Tesla's second quarter earnings report. Analyst Itay Michaeli pointed out that the quarter delivered positive data points on Model 3 and to some extent the balance sheet, while autonomous was more neutral. Nonetheless, he sees the next few quarters as "crucial for execution." Michaeli reiterated a Neutral rating and a $357 price target on Tesla's shares. 'NOISY' QUARTER: Not nearly as bullish on Tesla, Bank of America Merrill Lynch analyst John Murphy lowered his price target on the stock to $155 from $165 on slightly lower forward estimates. While generally above expectations, the analyst noted that the company's second quarter results were "a bit noisy." Model 3 ramp volume still remains unclear, he contended, adding that he expects it to take the new model some time before it reaches any material scale, which could lead to production costs outweighing potential benefits of higher volume operating leverage for an extended time. Additionally, Murphy told investors that he expects Tesla will need to raise capital by year-end and believes investor patience will wear thin as further capital raises are not met with improving earnings, cash flow, or returns. He reiterated an Underperform rating on the shares. Meanwhile, his peer at JPMorgan told investors that while Tesla's second quarter results were "modestly" better than expected, third quarter guided softer, with margin expected to "dip below" 20%. Analyst Ryan Brinkman raised his price target on the shares to $200 from $190 but said that he remains cautious. The company guided for spending to be higher in the second half, suggesting this quarter's lower spending reflects a mere push-out of expenditures into the back half of the year, the analyst contended. He reiterated an Underweight rating on the stock. UBS analyst Colin Langan also said that Tesla's capital spending guidance implies more cash burn and reiterated a Sell rating and $185 price target on Tesla's shares. PRICE ACTION: In late morning trading, shares of Tesla have jumped almost 7% to $348.

11:43 EDT Toshiba announces formation of U.S. LNG-focused company - Toshiba America publicly announced the formation of Toshiba America LNG Corporation, a new operating company that will focus on the liquid natural gas market. Toshiba America LNG is responsible for coordinating and assembling the necessary infrastructure chain to produce U.S. LNG which can then be marketed by the broader Toshiba group to key focus geographies such as Latin America, the Caribbean and Asia. To facilitate this role, TAL will be one of five tolling customers at the Freeport (FCX) LNG project in Quintana, Texas. Toshiba has also entered into a pipeline capacity agreement with an affiliate of the Enbridge (ENB) to bring U.S. natural gas to the Freeport LNG facility and with Gulf LNG for tug services. Over the coming months and years, TAL will be entering into additional arrangements to facilitate the delivery of U.S. LNG, the company added.

11:38 EDT Western Digital: Toshiba dialogue to come to mutually acceptable terms - Western Digital (WDC) commented on its commitment to the success of the three NAND flash-memory joint ventures that Western Digital's SanDisk subsidiaries operate with Toshiba Corporation (TOSBF). The company said, "Western Digital is steadfast in its commitment to the success of the JVs. We have been in constructive dialogue with Toshiba over several weeks to come to mutually acceptable terms around our planned investment in the JVs, specifically in production equipment to be used at the new fab currently under construction in Yokkaichi, Fab 6. Those discussions are ongoing. The JV operations are governed by agreements entered into by both partners. The agreements set out a framework for any investment by the partners in NAND manufacturing capacity - such as the investment in equipment for Fab 6. The agreements give us priority to participate in joint investments in Fab 6 equipment through the JVs, and that is exactly what we intend to do. Our Board of Directors has authorized investments for our share of initial Fab 6 equipment. We remain committed to making continued significant investments in Yokkaichi and the surrounding communities to support the JVs and preserve Yokkaichi as the world's centerpiece of innovation in memory technology development and manufacturing." Western Digital also noted that, on Aug. 2, 2017, the California Court of Appeal First Appellate District denied Toshiba's petition to stay the temporary restraining order that had been granted in SanDisk's favor by the Superior Court on July 11, 2017. After a full briefing on the matter, the California Court of Appeal denied Toshiba's request to stay the TRO prohibiting Toshiba's lockout. The Court's ruling dissolved the temporary stay of the TRO, which prohibits Toshiba from preventing certain employees from accessing shared databases and servers, and from refusing to ship certain engineering wafers and samples to Western Digital in Milpitas, California. SanDisk is confident that it will succeed in its claims in arbitration in the ICC International Court of Arbitration.

11:30 EDT Occidental Petroleum sees FY17 total production 597k-605k boed - Sees FY17 Permian Resources production of 140,000-147,000 boed. Sees FY17 production costs for domestic oil and gas of approximately $14/boe.

11:25 EDT FreightCar America says in 'active inquiry enviroment,' waiting for orders - On its quarterly conference call, the company noted that customers are making inquiries, but whether or not they "pull the trigger" remains to be seen.

11:20 EDT Avon plunges after reporting surprise loss as CEO plans to depart - Shares of Avon Products (AVP) plunged in morning trading after the cosmetics company reported a surprise quarterly loss. Additionally, the company, which has been under pressure from activist investors, said its chief executive officer will step down next year. QUARTERLY EARNINGS: Avon reported an adjusted loss per share of (3c) for the second quarter, well below analysts' consensus estimates of 7c in profits per share. Quarterly revenue of $1.4B was roughly in line with the $1.44B consensus but declined 3% from the year-ago period. The company said active representatives and ending representatives declined 3% and 2%, respectively. Looking ahead, Avon said it expects fiscal 2017 constant-dollar revenue growth in the low single-digits, Adjusted operating margin expansion of 100-140 basis points over last year and "slightly positive" free cash flow including an expected $65M in increased capital expenditures. However, based on the Q2 performance, Avon said it expects to be at the low end of its guidance ranges. The company said it is on track to achieve its 2017 cost savings target of $230M. "Second-quarter performance fell below our expectations as we cycled a strong quarter last year. As previously guided, we expect the second half to yield a stronger performance based on our exciting product innovation plans and other initiatives to increase Representative activity," CEO Sheri McCoy said in a statement. CEO TO TRANSITION OUT: Separately, Avon announced this morning that Sheri McCoy will step down as CEO and as a director on March 31, 2018. Avon has retained Heidrick & Struggles to help it find McCoy's successor. In May, an investor group led by Barington Capital called on Avon's board to begin a search for a new CEO, commenting that McCoy had "overseen a tremendous destruction of shareholder value." At the time, the group noted that Avon's stock price had fallen by more than 80% since appointing McCoy as CEO, with EPS also declining. McCoy, who became Avon's CEO in April 2012, had resisted stepping down despite calls by Barington to do so since 2015. Last year, Avon sold its failing North American business to private equity firm Cerberus Capital and added an independent director to its board as part of an agreement with Barington. PRICE ACTION: In morning trading, shares of Avon Products are down nearly 12% to $2.96. Shares are down over 40% year-to-date.

11:17 EDT FreightCar America says momentum is continuing into August

11:15 EDT Accenture acquires Search Technologies; terms not disclosed - Accenture has acquired Search Technologies, a Herndon, Virginia-based technology services firm specializing in the design, implementation and management of big data and search analytics. Terms of the transaction were not disclosed. As part of the acquisition, a new delivery center will be established in Costa Rica for the 70+ Search Technologies big data engineers based there.

11:11 EDT Chesapeake off session lows after DOJ drops accounting probe - Shares were trading down to a low of $4.50 earlier in Thursday's session but have risen to $4.65 a share on a volume spike. Chesapeake is now up almost 1% to $4.66 per share.

10:56 EDT BT Federal awarded contract by U.S. GSA - BT announced the U.S. General Services Administration selected BT Federal as one of the companies to be eligible to propose to provide services under the Enterprise Infrastructure Solutions contract. Under the EIS contract, US Federal Government agencies can tender for a broad array of national and international telecommunications network and information technology services. The EIS contract is a comprehensive solutions-based vehicle designed to address all aspects of the U.S. Federal Government information technology telecommunications and infrastructure requirements. The fifteen year contract includes a five-year base term with two five-year optional extensions and is valued at as much as $50B if all extension options are exercised. This contract authorizes BT Federal to compete for mandatory and optional services from individual US Government agencies. The EIS program is the largest Federal communications contracts in history. The EIS contract includes collaboration services, such as Voice over IP, audio conferencing, web conferencing, MPLS, internet access and ethernet services; managed network services, fiber-optic services; cloud and contact center services; cybersecurity services and products and services for Continuity of Operations Planning for Federal agencies. EIS provides transformational solutions for Federal customers seeking to transition to the GSA program in the foreseeable future.

10:46 EDT CenterPoint Energy says hopes to see closure for Enable deal 'in near future'

10:31 EDT Huntsman CEO says Clariant merger positive on balance sheet, synergies

10:29 EDT Huntsman CEO seeing demand growth across the board - The Huntsman CEO is speaking in a CNBC interview.

10:25 EDT Mattel slides as analyst says sell after cautious management meeting - Shares of Mattel (MAT) are sliding after DA Davidson analyst Linda Bolton Weiser downgraded the stock to Underperform, a sell-equivalent rating, following a recent meeting with the company's management. The analyst left the meeting with an even more cautious outlook for the company's performance in the second half of 2017. SELL MATTEL: In a research note to investors this morning, DA Davidson's Weiser downgraded Mattel to Underperform from Neutral and lowered her price target on the shares to $18 from $22. The analyst pointed out that she left a recent management meeting with a "heightened awareness" of a few issues and an even more cautious outlook for the company's performance in the second half of 2017. Weiser said she was "struck by how many times President Richard Dickson and CFO Kevin Farr reiterated their intent to start 2018 clean" during the meeting. She also highlighted that management gave color on the ongoing brick-and-mortar to e-commerce shift, which is one of the reasons Point of Sale growth and shipment growth have become more misaligned, with Mattel estimating the shift will reduce channel inventory by about half. While the company is sticking to its guidance for low-single digit sales growth in 2017, the analyst argued that she believes the objective to end the year "clean" overrides 2017 P&L performance. CARS 3: DA Davidson's Weiser also told investors that she came away with the impression that Mattel's 2017 Cars 3 sales are likely to come in below the $300M guidance, but not significantly below. The company is working with Disney (DIS) for a dial-up of the marketing and promotional activity in the U.S., with higher spending on the latter's part, the analyst added. WHAT'S NOTABLE: Earlier this week, her peer at UBS also said she remained cautious on Mattel's shares near-term, citing uncertainty around prioritization of reinvestment dollars. Analyst Arpine Kocharyan argued in a research note of her own that shares may be range bound through the fall until further clarity is reached on holiday season positioning. Further, she noted that inventories are lean and second quarter shipments were soft partially due to tighter inventory management as well as pruning of smaller licensed portfolio. Kocharyan reiterated a Buy rating on the stock, but lowered her price target on Mattel's shares to $23 from $26. PRICE ACTION: In morning trading, shares of Mattel have dropped almost 3% to $19.06. Hasbro (HAS), Mattel's biggest publicly traded U.S. competitor, is up fractionally to about $105 per share.

10:16 EDT Dominion acquires two 5MW solar generating facilities - Dominion Energy said that it has acquired two 5-megawatt solar generating facilities and plans to purchase two other solar farms totaling approximately 10 megawatts later in the third quarter from subsidiaries of Chapel Hill, N.C.-based Strata Solar. Dominion Energy's solar portfolio in North Carolina and Virginia includes more than 600 megawatts of capacity owned by one of the company's generation-holding subsidiaries and more than 500 megawatts of solar capacity under contract by Dominion Energy's electric utilities in the two states. Together, these arrays could produce enough electricity to power 275,000 homes and businesses. Agreements are in place for sale of the offtake from the solar facilities.

10:12 EDT Jazz Pharmaceuticals receives FDA approval for Vyxeos liposome for injection - Jazz Pharmaceuticals announced that the U.S. FDA has approved Vyxeos liposome for injection for the treatment of adults with two types of Acute Myeloid Leukemia, a rapidly progressing and life-threatening blood cancer. Vyxeos is indicated for the treatment of adults with newly-diagnosed t-AML or AML-MRC. Vyxeos will be commercially available within a week.

10:07 EDT AIG CEO: 'More likely' to do series of smaller acquisitions vs. one large deal - On the company's Q2 earnings conference call, CEO Brian Duperreault said AIG will no longer be providing guidance with targets going forward. Duperreault noted that "if you consider where we are today," AIG would not meet the hurdles for SIFI designation. The executive said that AIG still has portfolios that don't meet profit targets, including property. Given market conditions, fixing them, will most likely require further reductions in premiums written, Duperreault said. The CEO said that while there is "no question" AIG has lost talent, "I'm going to take full advantage as a net acquirer of talent." Commenting on M&A, Duperreault said that if he can find something transformational, "who wouldn't do that?" He noted that "the more likely scenario" is that AIG will do a series of smaller acquisitions rather than one large deal. Comments taken from the Q2 earnings conference call. AIG is up 0.33% to $66.04 in morning trading.

10:01 EDT Lockheed Martin awarded $26.5M contract from U.S. Navy - Lockheed Martin received a $26.5M contract award from the U.S. Navy to produce Enhanced Laser Guided Training Rounds. The contract includes a base year order with options for four additional years. Under the contract, which extends ELGTR production into late 2019, Lockheed Martin will deliver ELGTRs and refurbish reusable shipping containers. Execution of the remaining options will extend LGTR production into 2023.

09:52 EDT Kite Pharma announces publication of SCHOLAR-1 outcomes - Kite Pharma highlighted in a press release the publication of the first "large-scale multi-institutional analysis" of outcomes of patients with refractory aggressive non-Hodgkin lymphoma in the latest electronic edition of BLOOD. The study, SCHOLAR-1, showed outcomes in patients with refractory aggressive NHL subtypes including diffuse large B-cell lymphoma, transformed follicular lymphoma or primary mediastinal B-cell lymphoma following treatment with currently available therapies: Objective response rate of 26%; Complete response rate of 7%; Median overall survival of 6.3 months. "These findings highlight the unmet medical need and provide an important benchmark for studies that address this refractory patient population," Kite says.

09:47 EDT Mattersight issued new patent for chatbot communication - Mattersight has received a new patent which combines the company's speech analytics and predictive behavior models to create artificial intelligence algorithms capable of generating chatbot communication that is both humanized and personalized.

09:32 EDT Ritter Pharmaceuticals reports further analysis from Phase 2b/3 study of RP-G28 - Ritter Pharmaceuticals announced additional findings and data analysis from its Phase 2b/3 study designed to evaluate lead candidate RP-G28 in subjects with lactose intolerance. These additional results from the trial analysis demonstrate that: 1. A clear drug effect was seen with significant positive reductions in key symptoms of lactose intolerance and across a variety of global and real world outcome measures. 2. The treatment effect suggests a clinically meaningful benefit to subjects in significantly reducing symptoms of lactose intolerance. 3. The study demonstrated safety with no serious adverse events related to treatment. According to Andrew Ritter, President and co-founder of Ritter Pharmaceuticals, "As we continue to evaluate the results of this trial, we are increasingly excited by the strength of the data supporting RP-G28's potentially significant and durable real-world treatment effect for patients suffering from lactose intolerance." The Company has been granted an End of Phase 2 meeting with the FDA, which will take place by the end of 2017. The End of Phase 2 meeting will be an important opportunity to consult with the FDA on finalizing the Phase 3 clinical program and identifying the remaining NDA-enabling package necessary for obtaining commercial approval of RP-G28 for the treatment of lactose intolerance. In preparation for the Phase 3 program, the Company has also commenced manufacturing efforts and plans to commence the Phase 3 clinical program in the first half of 2018.

09:15 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Tesla (TSLA), up 6%... Electro Scientific (ESIO), up 26.5%... SolarEdge (SEDG), up 19%... Fairmount Santrol (FMSA), up 11%... Take-Two (TTWO), up 12%. DOWN AFTER EARNINGS: Teva (TEVA), down 17%... Yum! Brands (YUM), down 1.5%... CommScope (COMM), down 13%... 3D Systems (DDD), down 10%. ALSO LOWER: Avon Products (AVP), down 8% after reporting earnings and announcing that Sheri McCoy to step down as CEO... Molina Healthcare (MOH), down 8% after reporting earnings and announcing plans to cut 1,500 jobs as part of a restructuring... Agile Therapeutics (AGRX), down 22% after its 5.3M share secondary offering priced at $3.75 per share.

09:12 EDT Aetna sees reinstatement of federal health insurance tax in 2018

09:07 EDT Allergan CEO says three brands 'need some work right now' - Responding to a question from an analyst about why the company did not raise its FY17 revenue guidance further, Allergan CEO Brent Saunders said the company actively promotes 20 products, but three of those "need some work right now," which offsets some strength with some of its other brands. Allergan is currently in the Q&A section of its earnings conference call.

09:05 EDT Pacific Drilling: Alternatives may include private restructuring, Chapter 11

09:03 EDT Pacific Drilling considering 'various means' to increase available liquidity - In light of the results of the solicitation and to ensure the company has sufficient liquidity in light of current market conditions and its debt obligations, the company is considering various means to increase its available liquidity, including potentially seeking to raise additional debt financing. The Company is also reviewing various ways to further reduce costs. If the Company is unable to complete a restructuring, or refinance or extend the maturity of the 2017 Senior Secured Notes prior to their maturity in December 2017, the Company may be unable to repay the Notes at maturity, which would trigger cross-default provisions in the Company's other debt instruments. In addition, as previously disclosed, the Company expects that it will be in violation of the maximum leverage ratio covenant in its 2013 Revolving Credit Facility and its Senior Secured Credit Facility for the fiscal quarter ending on September 30, 2017. If the Company is unable to obtain waivers of such covenants or amendments to the debt agreements, such covenant default would entitle the lenders under such facilities to declare all outstanding amounts under such debt agreements to be immediately due and payable. Such acceleration would also trigger the cross-default provisions in the Company's other debt instruments. The Company is evaluating various alternatives to address its liquidity and capital structure, which may include a private restructuring or a negotiated restructuring of its debt under the protection of Chapter 11 of the U.S. Bankruptcy Code. CFO John Boots commented, "We continue to engage in discussions with our shareholders, the bank lenders and the ad hoc group of holders of our public debt on the terms of a restructuring, although there is currently no consensus as to the form or structure of any restructuring."

09:01 EDT Takeda, Molecular Templates announce collaboration agreement - Takeda Pharmaceutical and Molecular Templates announced a collaboration agreement for oncology drug discovery programs. The collaboration will apply Molecular Templates' engineered toxin bodies technology platform to potential therapeutic targets provided by Takeda through a joint scientific committee of both companies. Under the terms of the agreement, Takeda will make an equity investment and Molecular Templates is eligible to receive upfront payments, development and commercial milestone payments, Takeda has agreed to royalties on the sales of commercial products developed through the collaboration. Under the agreement, Takeda will also appoint a Director to Molecular Templates' board of directors. Takeda will have the right to exercise exclusive options to obtain license rights to products resulting from the collaboration. Molecular Templates would be responsible for manufacturing and supply of products licensed for development by Takeda through Phase I clinical development. Additional terms of the agreement are not being disclosed. Takeda signed this agreement through its wholly owned subsidiary, Millennium Pharmaceuticals.

08:55 EDT Pinnacle West sees issuing 2017 guidance after Arizona commission review - Pinnacle West said it plans to issue 2017 guidance after a final decision by the Arizona Corporation Commission in Arizona Public Service Co.'s pending rate review, which is expected later this summer.

08:50 EDT Yum! Brands says maintaining FY17 CapEx view - Says goal is to get to $100M by 2019.

08:41 EDT Aetna CEO says Nevada Medicaid contract to end August 31 - Aetna CEO Mark Bertolini sees mid to high single digit topline growth, earnings growth in the low double digit range "over time." Expects to continue to grow managed Medicaid. Says individual Medicare Advantage business reported 14% YTD membership growth, performed "well" in Q2. Says will only participate in state Medicaid programs where "we can achieve enough membership to support the level of service our members deserve," says Nevada Medicaid contract to end on August 31; says "disappointed" with htis outcome. Comments taken from the Q2 earnings conference call. Aetna is up 4.7% in premarket trading.

08:38 EDT Amyris announces agreement for $50M in second tranche of equity financing - Amyris announced agreements for $50M in equity financing as part of the second tranche of its previously announced financing. The second tranche of $50M in a private placement, which is expected to close within the next couple of days is being led by a $25M investment from Koninklijke DSM N.V. with the remaining $25M contributed by Vivo Capital, a healthcare investment firm focused on investing in and building high quality companies in the U.S. and China. Following the close of this tranche, Vivo Capital will be granted an Amyris board seat and DSM gains an additional board seat. Terms of the private placement and related agreements are more fully disclosed

08:37 EDT Yum! Brands says 94% franchised, on track for 98% by end of 2018

08:35 EDT Berry Global raises annual cost synergy target for AEP acquisition to $80M - "We are reaffirming our fiscal year 2017 projected cash flow from operations of $925M and adjusted free cash flow of $550M which includes the $925M of cash flow from operations partially offset by net capital expenditures of $265M as well as $110M of payments under the tax receivable agreement. The $110M of payments related to the TRA includes $60M that was made in Q1 and an anticipated $50M payment to be made at the end of the September quarter. Looking ahead, we will continue our focus on reducing our leverage ratio to a goal of below 4, on or before the end of fiscal 2017. Additionally, we remain excited about our recent acquisition of AEP, and the results to date have validated our expectations of the synergy potential and scale advantages through the combined businesses. Based on our progress to date, we are increasing our annual cost synergy target for the AEP acquisition from our initial $50M and revised $70M to now, $80M," stated CEO Tom Salmon.

08:34 EDT Yum! Brands says on track to deliver 5% systems sales growth in FY17

08:25 EDT Yum! Brands says delivery remains a 'key growth driver' - Says almost half of total restaurants offer delivery. Comments from Q2 earnings conference call.

08:21 EDT Diana Shipping extends time charter contract for m/v G.P. Zafirakis - Diana Shipping, announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is $15,000 per day minus a 5% commission paid to third parties, for a period of about fourteen months to maximum seventeen months. The new charter period will commence on August 14. The m/v G. P. Zafirakis is currently chartered, as previously announced, at a gross charter rate of $6,500 per day, minus a 5% commission paid to third parties. The "G. P. Zafirakis" is a 179,492 dwt Capesize dry bulk vessel built in 2014. The employment extension of "G. P. Zafirakis" is anticipated to generate approximately $6.08M of gross revenue for the minimum scheduled period of the time charter.

08:19 EDT RXi Pharmaceuticals granted 180-day listing compliance extension - RXi Pharmaceuticals has been granted a 180-day extension by the Nasdaq Stock Market to meet the listing requirements for continued listing on its exchange. The company is not in compliance with the minimum bid price requirements because the bid price of the company's common stock had closed below the minimum $1.00 per share for the 30 consecutive business days. The company was afforded until August 1 to regain compliance with Nasdaq listing rules. Unable to regain compliance by that time, Nasdaq granted the company an additional 180 calendar days, or until January 29, 2018, to regain compliance with the bid price requirement.

08:18 EDT Long Island Iced Tea announces partnership with Sobeys - Long Island Iced Tea announced that its flagship brand Long Island Iced Tea has been approved for distribution in Sobeys Inc. main commercial center in Ontario, providing access to over 100 Foodland and Urban Fresh locations across the Ontario market.

08:15 EDT Diplomat Pharmacy named exclusive distributor of Nityr - Diplomat Pharmacy has been selected by Cycle Pharmaceuticals as the exclusive pharmacy to dispense Nityr twice-daily tablets, recently approved by the FDA. Nityr is indicated to treat hereditary tyrosinemia type 1 in combination with dietary restriction of tyrosine and phenylalanine. HT-1 is a rare genetic disease that is usually diagnosed at birth.

08:11 EDT Physicians Realty Trust expects to close $1.2B-$1.4B investments in 2017 - The company expects to close between $1.2B and $1.4B of total real estate investments in 2017, subject to favorable capital market conditions. This guidance is inclusive of any acquisitions previously announced.

08:08 EDT Foamix: First patient dosed in third Phase 3 study of Minocycline Foam FMX101 - Foamix Pharmaceuticals announced that the first patient has been dosed in its third Phase 3 study to evaluate the efficacy and safety of its topical Minocycline Foam 4%, FMX101 in patients with moderate-to-severe acne. As a result of the FDA discussion on the design of a third study, Foamix has decided to maintain the design agreed upon with FDA for Study FX2014-05. Foamix will continue to run, in parallel, the long-term open-label safety extension to evaluate the safety of intermittent use of FMX101 under Study 04 and Study 05. The open-label safety extension is scheduled to complete by year-end 2017. Foamix expects to report top-line results from Study FX2017-22 by mid-2018.

08:06 EDT Level 3 unit awarded EIS contract from General Services Administration - Level 3 Communications announced the General Services Administration has awarded its wholly-owned subsidiary, Level 3 Communications, LLC a multiple-year competitive contract known as Enterprise Infrastructure Solutions. The contract allows Level 3 to offer telecommunications solutions to support the GSA's goal of providing federal agencies access to a broad range of domestic and international network services.

08:06 EDT CDW up 4.6% after reporting Q2 results

08:03 EDT Teva Chairman: Board understands shareholders' disappointment with results

08:01 EDT Fred's reports July SSS down 0.1% - Fred's Pharmacy's total sales for the month decreased 3.5% year-over-year to $150.5 million from $155.9 million in July 2016. The decrease in sales is related primarily to the closure of 39 underperforming stores in the first quarter. Total comparable store sales for the month saw a decrease of 0.1%, compared with a 4.6% decrease in comparable sales in the prior year period. Comparable store sales for July included a negative 0.6% impact as a result of the sale of low productive discontinued inventory versus July of last year. For the quarter ended July 29, 2017, Fred's Pharmacy's total sales decreased 4.2% year-over-year to $507.4 million from $529.5 million in the same period last year; related primarily to the shift from brand to generic scripts as well as the closure of underperforming stores. Total comparable store sales for the quarter decreased 0.3%, compared with a 2.0% decrease in comparable sales in the prior year period. Comparable store sales for the quarter included a negative 0.8% impact as a result of the sale of low productive discontinued inventory versus second quarter last year.

07:57 EDT Teva CFO says on track to meet year-end debt covenants

07:54 EDT Allergan raises FY17 continuing operations guidance

07:47 EDT Realogy sees Q3 homesale transaction volume gains 4%-7% - Realogy expects to achieve overall homesale transaction volume gains in the range of 4% to 7% year-over-year. Expects Q3 homesale transaction sides to increase between 0% to 2% year-over-year and average homesale price to increase in the 4% to 5% range year-over-year. On a year-over-year basis Q3 RFG volume is anticipated to increase between 4% to 7%, while NRT transaction volume is expected to increase by 5% to 7%.

07:43 EDT Chesapeake sees $265M in asset sales to close by the end of Q3 - Year to date, Chesapeake has sold or agreed to sell multiple producing properties for approximately $360M to various private buyers, excluding the proceeds from the company's Haynesville Shale divestitures announced in December 2016 that closed in 2017. As of June 30, 2017, Chesapeake has closed $95M in asset sales with approximately $265M pending and expected to close by the end of the 2017 third quarter, subject to certain customary post-closing adjustments.

07:40 EDT Intec Pharma reports Phase I trial results for cannabinoid therapies - Intec Pharma announced results from a Phase I clinical trial of AP-CBD/THC, its Accordion Pill platform with cannabidiol and tetrahydrocannabinol, the two primary cannabinoids contained in Cannabis sativa. The Phase I trial was a crossover study to compare the harmacokinetics, safety and tolerability of two formulations of AP-CBD/THC with Sativex in 21 normal healthy volunteers. Sativex is a commercially available oral buccal spray containing CBD and THC. The study results showed that AP-CBD/THC had significant improvements in exposure of CBD - 290%-330% - and THC - 25%-50% - compared with Sativex. The median time of peak concentration was 2-3 times longer than Sativex and absorption was significantly higher. The formation of THC metabolites were meaningfully reduced - greater than25% - and AP-CBD/THC was found to be safe and well tolerated with no serious adverse events reported.

07:37 EDT PPL Corp. backs compound annual EPS growth view of 5%-6% through 2020 - Looking beyond 2017, PPL expects 5%-6% compound annual earnings growth per share from 2017 through 2020, measured against its 2017 ongoing earnings forecast midpoint of $2.15 per share. In addition, the company is targeting dividend growth of about 4% a year through 2020.

07:35 EDT IntercontinentalExchange sees Q3 adjusted operating expenses of $480M-$490M - ICE's third quarter GAAP operating expenses are expected to be in a range of $545 million to $555 million and adjusted operating expenses are expected to be in a range of $480 million to $490 million.

07:33 EDT Hyatt now sees FY systemwide RevPAR up 1%-3% y/y vs. previous 0%-2% view - The Company is reaffirming the following information for the 2017 fiscal year: Adjusted selling, general, and administrative expenses are expected to be approximately $310 million. This excludes approximately $31 million of stock-based compensation expense and any potential expenses related to benefit programs funded through rabbi trusts. Other income, net is expected to be negatively impacted by approximately $80 million related to performance guarantee expense for the four managed hotels in France. The effective tax rate is expected to be approximately 36% to 38%. The Company expects to open approximately 60 hotels. The Company is revising the following information for the 2017 fiscal year: Comparable systemwide RevPAR is expected to increase approximately 1% to 3%, as compared to fiscal year 2016. The Company's previous expectation was 0% to 2%. Net income is expected to be approximately $173 million to $201 million, compared to the previous expectation of $123 million to $159 million. Adjusted EBITDA is expected to be approximately $795 million to $815 million, compared to the previous expectation of $769 million to $804 million. Capital expenditures are expected to be approximately $350 million, compared to the previous expectation of $375 million. The decrease is attributable to recent hotel dispositions and a reduction in corporate development projects.

07:27 EDT Cogent extends stock buyback program to December 31, 2018

07:24 EDT Noble Midstream sees FY17 CapEx $365M-$405M - The 2017 capital budget remains $365 million to $405 million, or $215 million to $235 million attributable to the Partnership. Following the record volumes in the second quarter, new growth projects are expected to become operational in the third and fourth quarter of 2017, which are expected to provide continued gathering volume growth throughout the year. Highlighting the volume guidance is expected oil and gas gathering volume growth of 36% in the second half of 2017 above the first half average, with third quarter volumes expected to grow 5% to 16% above the record second quarter average volumes, and fourth quarter volumes expected to grow 28% above anticipated third quarter volumes. Produced water gathering volumes are also expected to continue to set records as the average volume in the second half is expected to nearly triple the first half average, with third quarter volumes expected to grow 43% to 74% above the second quarter average, and fourth quarter volumes expected to grow 94% to 105% from the expected third quarter volumes. Third and fourth quarter fresh water delivery volumes are expected to range between 100 MBw/d and 130 MBw/d, or 27% below the first half daily fresh water delivery average due primarily to the Partnership's continued use of conservative fresh water per equivalent well estimates and projected reduced completion activity. Second half of 2017 reduced fresh water delivery is expected to be offset by the gathering segment growth in net income and EBITDA, while EBTIDA attributable to the Partnership is estimated to grow approximately 29% in the second half of 2017 as a results of the additional DevCo interests recently acquired in the drop down. The second half of 2017 financial guidance is highlighted by DCF coverage of 1.6x to 1.9x in the third quarter and 1.8x to 2.1x in the fourth quarter.

07:22 EDT Noble Energy sees Q3 sales volume 340-350 MBoe/d - Total sales volumes for the third quarter and fourth quarter of 2017 are currently expected to be 340 - 350 MBoe/d and 380 - 390 MBoe/d, respectively. Excluding approximately 75 MBoe/d of full year 2017 volumes related to the Marcellus and other asset divestments, the company's original annual volume guidance was 340 - 350 MBoe/d. When considering the impact of these divestments, the company is in-line with the midpoint or upper half of its full year 2017 guidance ranges for U.S. onshore oil, total oil and total volumes. U.S. onshore volumes reflect outperformance from enhanced completions offsetting the impact of reduced vertical production in the DJ Basin. Offshore, Gulf of Mexico and Israel outperformance offsets lower volumes in West Africa. Volumes from West Africa will be significantly impacted in the third quarter as a result of the absence of any Alba field liftings in the period. For the full year 2017, Noble Energy expects organic capital expenditures to be towards the upper end of the company's $2.3 billion to $2.6 billion guided range, due to accelerated spending for both Leviathan and central gathering facilities in the Delaware Basin.

07:21 EDT Noble Energy reports Q2 sales volume up 7% to 408 MBoe/d

07:19 EDT Bellicum Pharmaceuticals names Gregory Naeve as Chief Business Officer - Bellicum Pharmaceuticals (BLCM) announced that Gregory Naeve, Ph.D., has been appointed as Chief Business Officer, effective August 21. Dr. Naeve, who will report to CEO Rick Fair, will lead product and portfolio strategy as well as business development for the company. Naeve joins Bellicum from Pfizer (PFE) where he served as the ImmunoOncology & Cell Therapy Lead for Pfizer's External Research and Development Unit.

07:16 EDT Quanta Services selected by Enbridge Pipelines for Canadian project - Quanta Services announced that it was selected by Enbridge Pipelines for two spreads of the Canadian section of the Line 3 Replacement Program. Quanta's scope of work includes the construction and installation of approximately 168 miles of new 36-inch diameter crude oil mainline pipe, which will begin in Hardisty, Alberta and continue into the province of Saskatchewan, Canada. Quanta's construction on the project will begin in August 2017 and is anticipated to continue through 2019.

07:12 EDT Sally Beauty backs view of approx. flat FY consolidated SSS growth - Based on fiscal year to date results and expectations for the fiscal fourth quarter, the company is maintaining its expectation of approximately flat full year consolidated same store sales growth, and now expects full year net new store growth of approximately 1.5%. The company expects full year gross margin expansion of approximately 30 basis points, full year adjusted SG&A in the range of 34.2% to 34.4% of sales, and full year reported and adjusted operating income growth of approximately flat to the prior year. Taking further into account the expected benefits from the recent debt refinancing and the year to date share repurchases, the Company expects solid growth in both reported and adjusted full year earnings per share.

07:10 EDT CDW authorizes $750M share repurchase program increase - CDW announced that its board has authorized a $750M increase to the company's common stock share repurchase program. The $750 million authorization is incremental to the $283 million unused in the repurchase program as of June 30, 2017. The program was initially authorized for $500 million in November, 2014 and reauthorized for an additional $750 million in May, 2016.

07:09 EDT TreeHouse restructuring program targeting 300 bp op. margin improvement - The company announced its TreeHouse 2020 restructuring program. Based on new data analytic capabilities and key insights recently visible as a result of the Company's systems integration of Private Brands, TreeHouse 2020 is a multi-year plan to fully integrate the business and reduce its cost structure in order to invest in market-differentiated capabilities that will serve the rapidly evolving needs of its customers that are strategically focused and highly committed to their corporate brands. The TreeHouse 2020 restructuring plan will be executed in multiple phases over the next several years. The key elements of Phase 1 actions include the closure of two manufacturing facilities and the downsizing of another. TreeHouse expects that the restructuring charges associated with these three facilities will total $44.5M, of which $29.7M will be cash and $14.8M will be non-cash.

07:09 EDT Windstream eliminates dividend, announces buyback up to $90M - Windstream announced its board of directors has revised the company's capital allocation strategy. The Windstream board has eliminated the company's quarterly shareholder dividend effective immediately and authorized the repurchase of up to $90M the company's common stock, effective through the first quarter of 2019. "Windstream will opportunistically purchase shares through open market purchases and pay down debt," it stated. "Our equity is undervalued especially given our improved strategic direction with enhanced product capabilities, management talent additions and anticipated acquisition synergies of $180 million. The elimination of the dividend along with the $90 million buyback program and delevering that will also occur will create value for all our stakeholders. This is the right path for our company," said Tony Thomas, CEO of Windstream.

07:01 EDT The Buckle reports July SSS down 8.4% - The Buckle said that comparable store net sales, for stores open at least one year, for the 4-week period ended July 29, 2017 decreased 8.4 percent in comparison to comparable store net sales for the 4-week period ended July 30, 2016. Net sales for the 4-week fiscal month ended July 29, 2017 decreased 9.0 percent to $60.6 million compared to net sales of $66.5 million for the prior year 4-week fiscal month ended July 30, 2016.

06:55 EDT Cott Corp. sees FY19 cash flow from ops $265M-$270M - Cott says: "Our traditional manufacturing business will be accounted for as an asset held for sale beginning in the third quarter and all of its results from operations will be presented as discontinued operations and excluded from our continuing operating income and continuing operating cash flow. Until the sale of the traditional manufacturing business closes and we use the proceeds to repay certain outstanding indebtedness, interest expense associated with debt to be redeemed may be incorporated into our continuing operating results. This accounting methodology will impact our 2017 and possibly 2018 reported results. Assuming that the sale of our traditional manufacturing business closes as expected, we are targeting full year 2019 cash flow provided by operations of approximately $265 to $270 million and capital expenditures of $115 to $120 million, resulting in adjusted free cash flow of approximately $150 million."

06:53 EDT Travelport concluded renewal of content agreement with Delta Air Lines - Travelport (TVPT) confirmed that, post period-end, "we concluded the renewal of our full content agreement with Delta Air Lines (DAL) on a long-term basis."

06:48 EDT Avon Products says Sheri McCoy to step down as CEO on March 31, 2018

06:38 EDT Cabela's reports Q2 merchandise gross margin down 20 bps - Merchandise gross margin decreased by 20 basis points in the quarter to 32.7% compared to 32.9% in the same quarter a year ago. The small decrease was attributable to an increase in sales discounts and promotional activity.

06:38 EDT Cabela's CEO says 'Merchandise sales were challenging' in Q2 - "Merchandise sales were challenging in the second quarter," said Tommy Millner, Cabela's CEO. "Since the fall election, we have continued to see a slowdown in firearms and shooting related categories. This slowdown was even more pronounced in the second quarter due to the impact of inventory liquidation by a major competitor who has filed for bankruptcy as well as the anniversary of a number of events from a year ago, including the Orlando tragedy in June of 2016. Additionally, similar to broader retail industry trends, we continued to experience softness in most hunting related categories. For the quarter, we were pleased with the excellent performance of our Cabela's CLUB Visa program which continues to perform very well."

06:34 EDT Teva reports Q2 Generic revenue of $3.1B, up 20% y/y - Generic medicines revenues in the second quarter of 2017 were $3.1 billion, an increase of 20% compared to the second quarter of 2016, reflecting the inclusion of the Actavis Generics business. Specialty medicines revenues in the second quarter of 2017 were $2.1 billion, down 9% compared to the second quarter of 2016. Global revenues of Copaxone were $1.0 billion, a decrease of 10% compared to the second quarter of 2016. Global Azilect revenues were $34 million, a decrease of 69% compared to the second quarter of 2016 following the introduction of generic competition to Azilect in the United States in 2017.

06:27 EDT Alibaba and Kering cooperating in intellectual property protection - Alibaba (BABA) and its affiliate Ant Financial Services and Kering (PPRUY) have come to an agreement to cooperate in their efforts to protect intellectual property and take joint enforcement actions online and offline against infringers. The companies have established a joint task force to take action against infringers of Kering's brands identified with Alibaba's technology capabilities. As part of the agreement, Kering has agreed to dismiss the lawsuit filed against Alibaba and Alipay, an Ant Financial subsidiary, in the US district court in New York.

06:11 EDT Fairmount Santrol backs FY17 CapEx view $47M-$50M - Full-year 2017 ongoing capital expenditures, excluding the new Kermit, Texas site, are still expected to be between $47 million to $50 million. The Company estimates total capital expenditures and leasehold interest payments of $100 million to $110 million related to the Kermit site over the next 12 months. Deckard noted, "As we look to the remainder of 2017 and beyond, we expect proppant demand to grow across all basins, with a continued broad mix of product and grade distribution. Our strategy to expand our industry-leading product portfolio, our production capacity, and our comprehensive logistics network will keep us in an excellent position to meet the diverse needs of our customers and to benefit from the continued changes in market demand."

06:02 EDT Aetna says medical membership totaled 22.1M at June 30

05:47 EDT Boeing, BOC Aviation finalize order for 10 737 MAX 10s - Boeing and BOC Aviation have finalized a deal for 10 737 MAX 10 airplanes. The announcement, first made at the 2017 Paris Air Show, is valued at approximately $1.25B at list prices.

05:43 EDT MasterCard, PayPal expand partnership in Asia Pacific - Mastercard (MA) and PayPal (PYPL) announced an extension of their partnership into Asia Pacific to enhance the consumer experience and make Mastercard a clear payment option within PayPal. The deal will expand PayPal's presence at the point of salei and enable Masterpass for Braintree merchants in the region. Additionally, both companies will collaborate to create opportunities to leverage Mastercard's new payment flow technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers. PayPal will also have the opportunity to give consumers and small businesses across Asia Pacific the ability to cash out funds held in their PayPal accounts to a Mastercard debit card.

05:38 EDT Canalys: Samsung led worldwide smartphone market in Q2, Apples in second - Samsung (SSNLF) continued to lead the worldwide smartphone market in Q2 2017 with shipments of over 79 million units, leaving growth relatively flat, according to Canalys. Apple (AAPL) held on to second place by shipping 41 million iPhones, increasing its annual shipments volume by 2%, despite anticipation building for a significant product refresh later in the year. Worldwide shipments of 38 million units, growth of 20% for Huawei, helped it close the gap with the leading pair and get within 3 million units of taking the second place from Apple. Oppo and Xiaomi were the top performers in fourth and fifth spot, growing shipments 44% and 52% respectively. Over 340 million smartphones shipped in Q2 2017, an increase of almost 4% year on year. "The smartphone market continued to grow in Q2, despite India and China both slipping into decline," commented Canalys Research Analyst Vincent Thielke. "Smartphone shipments to North America increased around 7% year on year, with Apple growing 10%. Apple outperformed Samsung despite the launch of the Galaxy S8, and growing anticipation for the next iPhone." Reference Link

05:34 EDT Costco reports July SSS up 6.2% - Reports July revenue up 8.8% to $9.41B vs. $8.65B last year. Reports July SSS, excluding the impacts from changes in gasoline prices and foreign exchange, were up 5.3%.