Stockwinners Market Radar for August 08, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:49 EDT Genesis Healthcare withdraws previous FY17 guidance - The company said "Given persistent industry-wide volatility in the business, uncertainty around the relationship between Medicaid rate growth and labor inflation, and the pending MSSP reconciliation and settlement the Company believes it is prudent to withdraw its previously issued financial guidance for 2017. Despite the current headwinds and uncertainties, I remain extremely optimistic about the long-range growth potential of our skilled nursing and contract therapy business, particularly as supply and demand dynamics play out in the coming years. Genesis's geographic scale and density, the strength of our relationships with key upstream providers and payors, our proven success operating in value based programs and the experience and depth of our management team, will enable us to capitalize on opportunities in a rapidly evolving reimbursement and business environment."

18:41 EDT Penn Virginia sees FY18 production 20,000-30,000 BOEPD - Sees FY18 CapEx $220M-$240M.

18:17 EDT Planet Payment to explore strategic alternatives, including possible sale - Planet Payment announced that its Board of Directors, working together with its management team and legal and financial advisors, has commenced a process to explore and evaluate potential strategic alternatives focused on maximizing shareholder value. These alternatives could include, among other things, the sale of the company, a merger with another party or other strategic transaction or continuing to execute on Planet Payment's stand-alone business plan. The company's Board has not set a timetable for this process nor has it made any decisions related to any specific strategic alternatives at this time. There can be no assurance that the exploration of strategic alternatives will result in a transaction. The company does not intend to provide any updates unless or until it determines that further disclosure is appropriate or necessary.

18:14 EDT Chesapeake Utilities subsidiary acquired assets from ARM Energy Management - On August 1 Peninsula Energy Services Company, or PESCO, a subsidiary of Chesapeake Utilities, acquired certain commercial and industrial marketing assets -- specifically located in Western Pennsylvania -- from ARM Energy Management, or AEM, a subsidiary of ARM Energy. PESCO is Chesapeake Utilities' non-regulated energy marketing business that provides energy services to commercial and industrial customers in the Southeast, Mid-Atlantic and Mid-West regions.

18:02 EDT Sabra Health Care REIT: Glass Lewis recommends vote for Care Capital deal - Sabra Health Care REIT announced that independent proxy voting advisory firm, Egan-Jones Proxy Services, has joined Glass, Lewis & Co., LLC in recommending that Sabra shareholders vote "FOR" the Sabra common stock issuance proposal in connection with the pending merger with Care Capital Properties, Inc. (CCP) at the company's upcoming Special Meeting of Stockholders on August 15, 2017.

18:01 EDT On Assignment acquires StratAcuity Staffing Partners, terms not disclosed - On Assignment announced that it acquired StratAcuity Staffing Partners a provider of specialized clinical/scientific staffing solutions for biotechnology and pharmaceutical organizations. Stratacuity supports clients in the greater Boston area with contract, permanent placement and managed services solutions. The company was founded in 2001 by Robert Patten and Patrick Marshall, and has enjoyed 16 years of steady growth, with $16M in revenues for 2016. Terms were not disclosed. On Assignment further announced that it is proposing, subject to market and other conditions, to reprice its existing Term B credit facility. There can be no assurances about the timing or terms of the planned repricing, or that the repricing will occur at all.

17:59 EDT Nuance says prior to malware incident was on track to meet Q4 guidance - "In the fourth quarter and fiscal year of 2017, we expect a continuation of the positive market trends we have experienced in recent quarters. Prior to the malware incident, we were on track for a strong fourth quarter in line with our previous guidance. As a result of the malware incident, we expect a material financial impact within the fourth quarter of fiscal 2017, which will also have impacts continuing into fiscal 2018, due to the business disruption, particularly in our HIM transcription business, as well as the associated costs related to restoring and enhancing our security environment," said Nuance in a slides presentation.

17:45 EDT SITO Mobile directors issue open letter in response to CEO - SITO Mobile directors Matthew Stecker and Thomas Thekkethala issued an open letter in response to SITO CEO Tom Pallack. The letter states, among other things: "you and three other directors signed a letter addressed to us (...) this letter reflects a continued pattern of action purported to be properly undertaken by the company and its board, but without exposure to or consideration by all duly elected directors. (...) a practice that obviously breaches the duty owed to all directors to allow them to participate in the ongoing discourse of the company. (...) it is telling that you chose not to respond to the substantive disagreements that we addressed in our open letter (...) In addition, we find the outlandish public assertion that you have or have planned to "report" our actions to the SEC to be misguided, but untroubling (though potentially libelous). (...) Your director majority, purporting to act as a duly constituted board, conceived of and ran an end-to-end private offering of the company's securities entirely without the knowledge of one third of the board or the board's Audit Committee chairman. (...) Further, this financing was done without competition, below market, and selectively offered only to shareholders favored by your majority. - Your director majority installed a management team whose CEO is a board member, whose head of sales is a brother of one of the company's largest shareholders, and whose CFO has significant history with the company's chairman. (...) failing to consider even a single alternate candidate for any of the roles making up the newly installed management team. (...) - Your director majority ignored our sound advice that - given the unproven nature of this team and the conflicts inherent in its makeup - significant incentive compensation and costly long-term employment agreements for this team should be postponed until after a trial period. (...) - Your director majority has instead issued compensation to that team that exceeds all norms for companies our size. (...) We look forward to continuing the vigorous representation of all shareholders and insist again that the company both acknowledge and fulfill its duties to include us in the board's activities and deliberations moving forward. "

17:37 EDT Abraxas Petroleum sees FY19 average production 12,750 Boepd - Sees FY19 CapEx $90M.

17:35 EDT Abraxas Petroleum sees FY17 production rate 7,800-8,200 Boepd - Sees FY17 CapEx $120M.

17:32 EDT Sally Beauty names Carrie McDermott president of Sally Beauty - Sally Beauty Holdings (SBH) announced the appointment of veteran retail executive Carrie McDermott to the position of President of its Sally Beauty operations in the U.S. and Canada, effective August 29, 2017. Prior to joining Sally, McDermott served nine years in roles of increasing responsibility with DSW (DSW), where she most recently served as Chief Operating Officer.

17:26 EDT Disney: ABC 'needs better performance' - Says ABC network "needs better performance." Says new web services to be "reasonably priced." Says Shanghai park to be modestly profitable in FY17.

17:19 EDT Five Prime sees FY17 net cash used in operating activities below $120M - The company estimates ending 2017 with slightly less than $300M in cash, cash equivalents and marketable securities.

17:16 EDT Zafgen sees cash, cash equivalents, marketable securities of $70M at year end - Zafgen now expects that its cash, cash equivalents and marketable securities balance will be greater than $70M as of December 31.

17:10 EDT Aeterna Zentaris trading resumes

17:05 EDT Power Integrations and Future Electronics sign worlwide distribution agreement - Power Integrations signed a worldwide distribution agreement with Future Electronics, which distributes and marketis electronics components.

16:57 EDT C.R. Bard approved merger agreement with Becton, Dickinson and Company - C. R. Bard (BCR) and Becton, Dickinson and Company (BDX) announced the results of Bard's special meeting of shareholders, held on August 8 and at which a quorum was present, for Bard shareholders to consider and vote upon the proposed merger of Bard with BD. Bard shareholders approved the definitive merger agreement, with approximately 99% of shares voting cast in favor of the proposal. As previously announced on April 23 Bard and BD entered into a definitive agreement pursuant to which BD would acquire Bard in a stock and cash transaction. Bard shareholder approval was a condition to the transaction. The proposed transaction remains subject to certain other conditions and approvals, and is presently expected to close in the Q4.

16:56 EDT Disney has not determined status of Marvel, Star Wars films after Netflix move - Says Netflix (NFLX) did not have global rights to Disney (DIS) properties. Says has not yet determined disposition of Marvel, Star Wars properties. Says "premature" to say what company will do with Marvel and Star Wars.

16:54 EDT Continental Resources to sell non-strategic leasehold, property for $147.5M - Continental announced it has signed two definitive purchase and sale agreements with undisclosed buyers to sell 6,590 net acres of non-core leasehold in the oil window of STACK in northern Blaine County, Oklahoma for $72.5M, and 26,000 net acres of leasehold in the Arkoma Basin located in Atoka, Coal, Hughes and Pittsburg counties, Oklahoma for $68M. The leaseholds are non-strategic and include minimal proved reserves. The agreements provide for customary closing conditions and adjustments. The Company is also selling oil-loading facilities in Oklahoma for $7M. The Company intends to use the proceeds from the sales to reduce outstanding debt and noted that it has other opportunities for non-core asset sales.

16:53 EDT Continental Resources reports Q2 net production totaled 20.6M Boe - Second quarter 2017 net production totaled 20.6M Boe, or 226,213 Boe per day, up 12,458 Boe per day from first quarter 2017, or approximately 6%. Total net production for second quarter 2017 included 125,381 Bo per day (55% of production) and 605M cubic feet (MMcf) of natural gas per day (45% of production).

16:51 EDT Disney says on track to repurchase $9B-$10B of stock for the full year - Says ABC scatter pricing up 11% in current quarter. Says on track to repurchase $9B-$10B in stocks for full year.

16:50 EDT Haverty Furniture increases cash dividend by 25% to 15c per share - Haverty Furniture announced that its board of directors approved a 25% increase in its dividend, raising the quarterly amount from 12c per share to 15c per share on the company's common stock. The quarterly dividend for the company's Class A common stock was also increased from 11.25c to 14.25c.

16:47 EDT ProPetro sees FY17 CapEx $270M-$290M - The company expects capital expenditures for 2017 to range between $270 million and $290 million. Approximately $144 million has been incurred as of June 30, 2017. The total anticipated full year spend is inclusive of 6 new build frac fleets, additional Tier 2 diesel engines, a small amount of growth in ancillary services, and maintenance capital expenditures.

16:46 EDT Disney: New ESPN direct service available in early 2018 - Says new web services a "strategic shift." Says new DTC services mark "beginning of what will be an entirley new growth strategy." Says encouraged by Resort's Q3 results. Says Resort bookings down in current quarter. Says new direct ESPN service to be available to consumers in early 2018. Says ESPN ad revenue down 8% in Q3. Comments taken from Q3 earnings conference call.

16:44 EDT Aeterna Zentaris reports on review of strategic alternatives - Aeterna Zentaris ' special committee of independent directors -the Strategic Review Committee - has engaged a consulting firm and a financial advisor to assist in its efforts. The Committee has been tasked to consider and evaluate various strategic and financing alternatives available to the company to maximize shareholder value, including continuing to execute on its existing business plan and/or considering and recommending changes to the Company's management and governance. The Strategic Review Committee retained these firms in part to validate the commercial potential of Macrilien in order to determine the best means of maximizing value. The board recently appointed Michael Ward as CEO. Ward has taken steps to reduce and rationalize overhead over the next several months, including reducing or eliminating expenses, resources and overhead that were associated with the company's discontinued Zoptrex product. Ward has also implemented a restructuring plan of Frankfurt operations. The company has also eliminated an executive position in South Carolina. The board and the Committee has also discussed formally adopting a director share ownership requirement to ensure an even greater level of alignment with shareholders.

16:43 EDT Richmont Mines CEO enters automatic securities disposition plan - Richmont Mines announces that Renaud Adams, President & CEO, has entered into an automatic securities disposition plan. The ASDP was prepared in accordance with applicable provincial securities legislation, and relates exclusively to the sale of employment inducement stock options awarded to Adams in November, 2014. The objective of the ASDP is to facilitate the exercise and sale of the remaining 675,000 of the original Inducement Options of Richmont currently held by Adams. The options will be exercised and sold by an independent broker on the open market over a period of time up to their expiration date of October 15, 2019 and are subject to minimum price thresholds as specified in the ASDP. For greater certainty, the ASDP does not cover other equity holdings held by Adams.

16:40 EDT Ralph Lauren recommends stockholders reject TRC 'mini-tender offer' - Ralph Lauren announced that it received notice of an unsolicited "mini-tender" offer by TRC Capital to purchase from the company's stockholders up to 1.5M shares of Class A Common Stock of the company at $72 per share. The offering price is 4.31% below the closing price of the stock on July 28. The company does not endorse TRC Capital's unsolicited mini-tender offer and recommends that stockholders do not tender their shares.

16:39 EDT Calix sees restructuring charges of $6.8M for 2017 - In March 2017, Calix adopted a restructuring plan that seeks to realign the company's business to increase its focus towards its investments in innovative Software Defined Access systems and software, while reducing its cost structure in the traditional systems business. The company said today it has recognized restructuring charges of approximately $1.7M for the six months ended July 1, consisting primarily of severance and other one-time termination benefits. Throughout the remainder of 2017, the company intends to take further actions under this plan and expects to incur total pretax charges of up to $6.8M for the full year related to this plan. These actions are anticipated to result in annualized cost savings approximately equal to the total charges incurred. The company expects to see cost reduction benefits as a result of these charges starting in FY18.

16:36 EDT Cohen & Steers reports preliminary AUM $61.9B as of July 31 - An increase of $1.4B from June 30.

16:36 EDT American Renal Associates backs FY17 AEBITDA less NCI view $100M-$106M

16:34 EDT Natera sees FY17 revenue $210M-$230M, consensus $218.88M - Sees FY17 cost of revenues 60%-65%; selling, general and administrative costs to be approximately $135M-$140M; research and development costs to be $45M-$50M, and net cash burn to be $65M-$75M. Natera's research and development investments are intended to enhance its service offering and reduce the cost of goods sold of Panorama and Horizon, as well as technology development, product development, and clinical trials within oncology.

16:32 EDT United Continental reports July traffic increased 3.9% - United Continental said its July consolidated traffic increased 3.9% and consolidated capacity increased 4.6% versus July 2016. UAL's July 2017 consolidated load factor decreased 0.6 points compared to July 2016. The company continues to expect Q3 consolidated passenger unit revenue to be down 1.0% to up 1.0% compared to last year.

16:28 EDT Iovance Biotherapeutics appoints Timothy Morris CFO - Iovance Biotherapeutics announced the appointment of Timothy Morris as CFO of the company, effective August 14. Morris was most recently CFO and head of business development for AcelRx Pharmaceuticals.

16:28 EDT PHH Corp. boosts buyback to $300M, intends to launch Dutch Auction tender - PHH Corp. said its board as authorized an increase in repurchases of shares of its common stock to up to $300M in the aggregate from $100M. "We intend to launch a modified Dutch Auction tender offer for our shares of common stock in the amount of up to $266 million and at a share price not to exceed $14.25 at the next available securities purchase date," it added.

16:25 EDT Marcus & Millichap says Q3 comps 'projected to be challenging' - The company said, "Third quarter 2017 year-over-year comparisons are projected to be challenging in light of the Company's performance in the third quarter of 2016 with total revenues growth of 8.9%, in contrast to the current market environment of decelerating transaction volume. In addition, the Company's strategic increase in investments in infrastructure and systems improvements are ongoing and will position the firm for long-term growth. Expense leveraging is not expected until 2018."

16:21 EDT Aflac board increases shares authorized for repurchase - Aflac's board of directors has authorized the purchase of up to 40M shares of its common stock. This authorization is in addition to the 15.6M shares that remained under a previous authorization as of June 30, 2017, bringing the total number of shares available for purchase to approximately 55.6M. The company anticipates that the repurchase of shares will be conducted from time to time in open market or negotiated transactions, depending on market conditions.

16:19 EDT Pier 1 Imports CFO Boyer to leave company for Fossil Group - Pier 1 Imports (PIR) announced that Jeffrey N. Boyer, Executive Vice President and Chief Financial Officer, is leaving the Company effective October 3, 2017 to become Chief Financial Officer of Fossil Group (FOSL), where he has been a member of the Board of Directors since 2007. Pier 1 Imports is in the process of appointing an executive search firm to conduct a comprehensive search for a new CFO. Separately, the Company is very pleased to announce the appointment of IT Veteran Bhargav J. Shah as Senior Vice President and Chief Information Officer, effective immediately.

16:19 EDT TripAdvisor reports Q2 average monthly unique visitors nearly 415M - Average monthly unique hotel shoppers reached 153 million, up 11% year-over-year, and TripAdvisor-branded click-based and transaction revenue per hotel shopper decreased 2% year-over-year. Average monthly unique visitors on TripAdvisor-branded websites and applications reached nearly 415M, up 18% year-over-year. User reviews and opinions grew 39% year-over-year and reached 535M at June 30, 2017, covering approximately 1.1M hotels and accommodations, 800,000 vacation rentals, 4.4M restaurants and 830,000 activities and attractions.

16:18 EDT Durect reports cash and investments $33.6M at June 30 - At June 30 cash and investments were $33.6M, compared to cash and investments of $25.2M at December 31, 2016. Cash and investments increased during the quarter primarily as a result of the upfront payment received from Sandoz in connection with our POSIMIR agreement. Debt at June 30, 2017 was $19.9M.

16:16 EDT Triton International CEO sees market conditions "favorable" through 2017 - Triton International CEO Brian Sondey stated, "In general, we expect market conditions to remain favorable through at least the end of the year. We expect that the supply / demand balance for containers will remain tight, and that our key operating metrics will continue to improve. We also expect fleet growth and container on-hire activity to remain strong in Q3 due to the large number of containers that have been ordered and committed to leases, but that have not yet been produced or are waiting for pick-up. As a result of these factors, we expect our Adjusted pre-tax income to increase from Q2 to Q3 if market conditions remain strong."

16:15 EDT Lam Research to develop NanoString's proprietary Hyb & Seq platform - NanoString Technologies (NSTG) and Lam Research Corporation (LRCX) announced a strategic collaboration to develop NanoString's proprietary Hyb & Seq next generation sequencing platform. Under the terms of the collaboration, Lam will provide up to $50M of funding intended to cover the costs of development and regulatory approval over a development period expected to last approximately three years, as well as advanced engineering and technical support. Lam will receive a warrant to purchase 1M shares of NanoString common stock at $16.75 per share, as well as a royalty on all products developed under the collaboration. NanoString retains all rights to commercialize the resulting Hyb & Seq products, and the parties will share ownership rights in jointly developed intellectual property.

16:12 EDT Hertz reports Q2 total U.S. RAC revenues $1.5B, down 4% - Total U.S. RAC revenues were $1.5 billion in the second quarter 2017, a decrease of 4%, versus the same period last year. Transaction days decreased by 3% year-over-year as compared to a strong second quarter 2016, which was driven by replacement rentals from unusually high customer vehicle recall activity. Pricing, as measured by Total RPD, decreased by 2% in the quarter, driven by a change in customer mix year-over-year and weaker ancillary revenues. Second quarter U.S. RAC net vehicle depreciation per month increased 27% versus the same period last year to $353 per unit primarily driven by declining residual values, accelerated vehicle disposition timing and fleet quality and mix investments. Despite the decrease in industry residual values, the Company stayed on course with its fleet optimization plan, selling 35% more vehicles year-over-year and onboarding a richer mix of model year 2017 vehicles. As planned, the Company reduced its total average fleet by 1% in the second quarter compared with a year earlier, as the number of core rental vehicles declined by 3%, partially offset by an increase in the vehicles dedicated to the ride hailing fleet. While utilization declined by 130 basis points in the quarter, the Company has made early progress toward driving customer satisfaction and improving profitability longer term. Its goal of reducing its mix of compact cars to 16% of the total U.S. fleet from 21% a year ago was met at quarter end, better reflecting customer preference. Also, the Company continued to roll out its Ultimate Choice program, where customers are able to choose their preferred vehicle, on site, with no wait.

16:11 EDT Hertz CEO says has made 'significant progress' in 1H17 on turnaround plan - "We have made significant progress in the first half of the year, executing on our operating turnaround plan. Of course, the hard work always comes before the pay off as reflected in our second quarter results, where increased spending to fix areas of weakness and invest in areas of opportunity were exacerbated by a challenging vehicle residual environment in the U.S.," said Kathryn V. Marinello, president and chief executive officer of Hertz. "On the upside, we have now completed our U.S. fleet transformation, redesigned 37 Hertz airport locations for Ultimate Choice, updated our financial and revenue management systems, and introduced new management tools and resources to drive service excellence. Admittedly, we still have a lot of work to do, but these early wins are evidence that we have the right plan in place to ultimately achieve best-in-class outcomes."

16:10 EDT Hertz encouraged by preliminary Q3 total U.S. revenue per day trends - In the U.S. rental car segment, the company is encouraged by preliminary third quarter 2017 total revenue per day trends. In July, total revenue per day is expected to have increased by approximately 3% compared with July 2016. July transaction days are estimated to have declined by about 4% as the Company targets higher-quality revenue. With only approximately 55% of reservations booked, August is less clear, but early indications suggest trends similar to July. September is expected to be seasonally weaker, but the Company will continue to focus on fleet capacity discipline and revenue quality. In the International rental car segment, the terrorist event in early June does not seem to have impacted reservation trends for Europe in the third quarter 2017 peak summer season.

16:09 EDT PTC Therapeutics reports cash and equivalents $181.1M at June 30 - Cash, cash equivalents, and marketable securities totaled approximately $181.1M at June 30 compared to approximately $231.7M, at December 31, 2016.

16:06 EDT Qualcomm: ITC to pursue investigation of Apple - Qualcomm (QCOM) announced that the United States International Trade Commission has commenced an investigation into Apple (AAPL). The investigation is based on a complaint filed by Qualcomm on July 7, 2017. The investigation will examine whether Apple has engaged in unfair trade practices by importing and selling certain mobile electronic devices, including iPhones and iPads that infringe one or more claims of six Qualcomm patents. Qualcomm is requesting that the ITC issue a Limited Exclusion Order to bar importation, and a Cease and Desist Order to bar further sales and marketing in the United States, of iPhones and iPads that use cellular baseband processors other than those supplied by Qualcomm's affiliates. "Qualcomm is pleased with the ITC's decision to investigate Apple's unfair trade practices and the unauthorized importation of products using Qualcomm's patents," said Don Rosenberg, executive vice president and general counsel of Qualcomm. "We look forward to the ITC's expeditious investigation of Apple's ongoing infringement of our intellectual property and the accelerated relief that the Commission can provide."

16:05 EDT Lionsgate reports backlog of $1.4B - Lionsgate said its backlog, or already contracted future revenue on the licensing of film and television product not yet recorded, "remained at a near-record $1.4B" at June 30, 2017.

15:59 EDT S&P 500 near session lows after Trump 'Fire and Fury' comment - As tensions rise between the U.S. and North Korea, President Donald Trump on Tuesday vowed 'Fire and Fury' will be U.S response if North Korea persists with threats of nuclear action.S&P 500 is down fractionally to 2,474 going into the close on Tuesday.

15:33 EDT Sanofi announces filing of patent infringement suit against Merck - Sanofi (SNY) announced that it filed a patent infringement suit against Merck (MRK) on August 8 in the United States District Court for the District of New Jersey. In its suit Sanofi alleges infringement of two patents. The suit was triggered by a notification received from Merck in late June, in which Merck stated that it had filed an NDA with FDA for an insulin glargine vial drug product. Merck also stated that its NDA included a paragraph IV certification challenging all of the Sanofi patents then listed in the FDA Orange Book for Sanofi's Lantus and Lantus SoloStar products.

14:49 EDT Visteon says not seeing 'very good opportunities' for large M&A - Speaking on the prospect of M&A, company management said at the JP Morgan Auto Conference: "And so we think that we have an exceptional position in the industry. We are able to move very quickly. The transformation that we have executed, I think, couldn't have been done if this was a large bureaucracy."

14:40 EDT Visteon targets 14% of EBITDA margins by 2021 - The company made the comment earlier at an industry conference.

14:23 EDT N.Y. Governor Cuomo says contruction starts on Delta LaGuardia facility - "Today's groundbreaking at @Delta's facilities represents another step forward as we build an entirely new airport at LaGuardia," said Andrew Cuomo, Governor of New York State. Reference Link

13:48 EDT Zimmer Biomet discloses receipt of subpoena from OIG - In a regulatory filing, Zimmer Biomet stated: "In June 2017, we received a subpoena from the OIG. The subpoena requests that we produce a variety of records primarily related to our healthcare professional consulting arrangements, including in the areas of medical education, product development, and clinical research, for the period spanning January 1, 2010 to the present. The subpoena does not indicate the nature of the OIG's investigation beyond reference to possible false or otherwise improper claims submitted for payment. We are in the process of responding to the subpoena. We cannot currently predict the outcome of this investigation."

13:44 EDT Globalstar granted modification of FCC license for mobile satellite service - Per Order FCC-16-181, Globalstar Licensee LLC requested minor modification of its license in order to permit deployment of terrestrial small-cell facilities at 2483.5-2495 MHz that will be used to provide wireless broadband services. The grant of authority related to the request was issued by the FCC on August 8, according to a post to the commission's website. Reference Link

13:00 EDT Gundlach says Trump gets 'very little' credit for market's rally - Jeffrey Gundlach of DoubleLine Capital is speaking on CNBC.

12:48 EDT Gundlach says call more bullish on volatility than bearish on market - Jeffrey Gundlach of DoubleLine Capital is speaking on CNBC.

12:46 EDT Gundlach says market will drop 3% at a minimum by December - Jeffrey Gundlach of DoubleLine Capital is speaking on CNBC.

12:35 EDT FDA approves Merck request to supplement BLA for Zostavax - According to a letter dated August 3 posted to the FDA website, the agency approved a request made by Merck to supplement its Biologics License Application for its Zostavax vaccine to include safety and immunogenicity data to support the concomitant administration of Zostavax and inactivated influenza vaccines. Reference Link

12:32 EDT Manitowoc says Q2 revenue decrease due to crawler crane backlog - On its quarterly earnings call Manitowoc said the $63M year-over-year decrease in revenue was primarily driven by the significant drop in crawler crane shipments in Q2. "As we explained in the first quarter call, at the beginning of 2016, the company had a substantially higher backlog of large crawler cranes and shipped a significant volume of these in the first half of 2016," said company management.

12:16 EDT Calgon Carbon rises after Betaville highlights rumors - Shares of Calgon Carbon are up 2% after the stock was mentioned by Betaville in a "RARE Alert" to subscribers. Such RARE Alerts communicate "market gossip that hasn't been tested through all formal journalistic channels," the M&A focused blog notes. Reference Link

12:11 EDT Primecap reports 9.85% passive stake in Abiomed

11:54 EDT JPMorgan's Dimon says 'not stepping into the arena' of politics

11:46 EDT JPMorgan's Dimon says 'tons' of 'exciting' stuff coming - Dimon is discussing upcoming products, innovations and technology planned at JPMorgan.

11:36 EDT JPMorgan's Dimon 'hopeful' U.S. tax reform can get done - JPMorgan Chairman and CEO Jamie Dimon is being interviewed on CNBC.

11:31 EDT PDC Energy sees 20%-30% production growth in 2018 - Sees 2017 capital spend of approximately $800M. In the Wattenberg, plans to drop from four to three rigs in Q4; plans to operate three rigs in Delaware and will closely manage cost environment through rest of 2017. Says commitment to balance sheet is first priority for 2018. Sees 2018 capital investment slightly above 2017 levels. Sees continued improvement in leverage ratio in 2018. Sees 20%-30% production growth in 2018. Anticipates cash flow neutrality in 2019 at $50/bbl NYMEX. Sees 3 year production CAGR of about 35% for 2016-2019 period. Comments taken from the Q2 earnings conference call. PDC Energy is down 9.7% to $40.70 in late morning trading.

11:23 EDT FibroGen jumps after lung disease data 'more than could have been hoped for' - Despite missing expectations for the quarter, FibroGen (FGEN) is on the rise after the biotech's drug pamrevlumab, a treatment for fatal lung disease idiopathic pulmonary fibrosis, successfully completed a mid-stage FDA test. Following the announcement, several research firms raised their price targets on the stock, with some analysts recalling Roche's (RHHBY) recent acquisition of Intermune, which develops pirfenidone, a medication also used for the treatment of idiopathic pulmonary fibrosis. RESULTS, DATA: Last night, FibroGen reported second quarter losses per share of (48c) and revenue of $29M, compared to consensus of (47c) and $34.3M, respectively. The company also announced positive topline results from its Phase 2 randomized, double-blind, placebo-controlled study and two combination safety sub-studies of pamrevlumab in patients with idiopathic pulmonary fibrosis, or IPF. Pamrevlumab met the primary efficacy endpoint of change of forced vital capacity percent predicted, a measure of change in lung volume, from baseline to week 48 of the study. Consistent with previous clinical studies, pamrevlumab was well tolerated in IPF patients. FibroGen plans to present these and additional results at the upcoming 2017 European Respiratory Society International Congress in September. The company anticipates meeting with the U.S. FDA to address the clinical and regulatory path forward for pamrevlumab in this indication, it noted. STIFEL TARGET DOUBLED: This morning, Stifel analyst Thomas Shrader raised his price target for FibroGen to $80 from $38 saying the trial result seems "more than could have been hoped for." The analyst told investors that if these results are repeated in the pivotal Phase 3 trial, pamrevlumab could be an "important and valuable drug." This value is probably further underscored by Roche's acquisition of InterMune for $8.3B after its pirfenidone reached about a $35M quarterly sales rate, Shrader contended. The analyst, who reiterated a Buy rating on FibroGen's shares, estimates that pamrevlumab has a 50% chance of succeeding in IPF. Meanwhile, Jefferies analyst Michael Yee also raised his price target for FibroGen to $75 from $50 saying "significant value creation should occur now" after the company reported positive Phase 2 IPF lung data for FG-3019. The analyst told investors in a research note of his own that he believes the $5B market capitalization implied by his new price target could prove conservative. Like his peer at Stifel, Yee also noted that InterMune had comparable data and was acquired by Roche for $8B. The analyst reiterated a Buy rating on FibroGen. Two other analysts raised their price targets for FibroGen following the study data. Citi analysts Joel Beatty upped his price target on the shares to $65 from $48, saying the monotherapy benefit appears comparable to the two approved IPF drugs, which is encouraging. He increased his probability of success for pamrevlumab in IPF to 65% from 20%. Additionally, Leerink analyst Geoffrey Porges raised his price target for FibroGen to $82 from $52 and reiterated an Outperform rating on the shares. Pivotal IPF trials are likely to be initiated in 2018, most likely with assistance from a partner, which would also offer a source of non-dilutive financing, Porges added. PRICE ACTION: In late morning trading, shares of FibroGen have gained almost 50% to $49.70.

11:16 EDT Fifth Third announces agreement to sell Vantiv shares - Fifth Third Bancorp (FITB) announced that it has entered into a transaction agreement with Vantiv (VNTV) pursuant to which Fifth Third Bank has agreed to exercise its right to exchange 19.79M of its Class B Units in Vantiv Holding for 19.79M shares of Vantiv's Class A common stock and Vantiv has agreed to repurchase the newly issued shares of Class A common stock upon issue directly from Fifth Third Bank at a price of $64.04 per share. The repurchase is conditioned on Vantiv publishing a firm offer to acquire Worldpay Group plc and is subject to termination, if among other things, the firm offer is not made by August 31. During the third quarter, Fifth Third expects to recognize a pre-tax gain of approximately $1.0B, or approximately $650M after-tax, related to these transactions. Following the repurchase, Fifth Third is expected to beneficially own approximately 8.6% of Vantiv's equity through its ownership of approximately 15.25M Class B units of Vantiv Holding. Following the closing of the Worldpay acquisition, if it occurs, Fifth Third is expected to beneficially own approximately 4.9% of Vantiv's equity. Consistent with Fifth Third's 2017 CCAR capital plan, Fifth Third currently expects to repurchase common shares from the realized after-tax gains from the transaction. On consummation of the repurchase, Fifth Third will no longer be entitled to appoint a director to Vantiv's board of directors, and consequently Fifth Third's remaining director will resign from Vantiv's board, the bank noted.

11:09 EDT Netflix : David Letterman returning to TV in new series for Netflix - "David Letterman, the longest-serving host in U.S. late night television - the original host of Late Night NBC and The Late Show CBS- is returning to television for a new series for Netflix. The yet-to-be-named, six-episode series has Letterman combining two interests for which he is renowned: in-depth conversations with extraordinary people, and in-the-field segments expressing his curiosity and humor. In each hour-long episode, Letterman will conduct a long-form conversation with a singular guest - and will also explore topics on his own, away from the studio. The series is set to premiere in 2018," says Netflix. Reference Link

11:05 EDT ICL signs MOU with Energean for long-term supply of natural gas - ICL announced that it has signed a non-binding Memorandum of Understanding with Energean Israel Limited to enter into negotiations for a definitive agreement to supply up to 13 BCM of natural gas to the Company at a total consideration of approximately $2B over a 15 year period. The gas will be used to power ICL's power stations and facilities in Israel. Energean holds licenses to develop the Karish and Tanin natural gas fields in Israel's territorial waters. The natural gas will be supplied to ICL by Energean from the commencement of Energean's production of gas from the Karish and Tanin fields. A definitive agreement with Energean is subject to the receipt of required approvals and arrangements for access to adequate alternate sources of natural gas in the event that the gas fields are not developed by Energean.

11:01 EDT Boeing, Air Lease finalize order for 12 737 MAXs - Boeing (BA) and Air Lease Corporation (AL) have finalized an order for 12 737 MAXs first announced at the 2017 Paris Air Show. The agreement also includes two new orders for the 787-9 Dreamliner. The deal includes five 737 MAX 7s and seven 737 MAX 8s, bringing ALC's total MAX orders to 130. The leasing company has now ordered a total of 49 Dreamliners.

10:53 EDT Arconic sees automotive sector up 18%-20% in FY17, surpassing market - Comment taken from company slides presentation.

10:51 EDT Facebook discontinuing Groups app for iOS, Android - Facebook says "Earlier this summer at the Facebook Communities Summit, we reaffirmed our commitment to groups with the announcement of our new company mission centered around building communities and introducing several new features, including Group Insights, to help group admins grow and strengthen their communities. Since then, the groups team has been working on additional tools to improve the overall groups experience and we've found that we can do more with and for the community by investing in the main Facebook app. Because we're focusing on groups in the main Facebook app and on facebook.com, we are discontinuing the Facebook Groups app for iOS and Android. This means you won't be able to log into the Facebook Groups app after September 1, 2017. All of your groups from this app will be available in the main Facebook app, where you can continue to connect with all your communities. We appreciate your understanding while we work on making groups even better. Thank you again for using the Facebook Groups app. We look forward to continuing our work to deliver experiences that help you connect with people about the things that matter to you." Reference Link

10:48 EDT Easing immigration reform worries seen as boost for Cognizant - Research firm Berenberg upgraded Indian IT outsourcing company Cognizant (CTSH) to Buy from Hold, saying that the stock is poised to rise because investors have become less worried about the company being hurt by immigration reform. EASING WORRIES: Noting that Cognizant's stock has rallied recently, Berenberg analyst Georgios Kertsos says the surge indicates that investors are less worried that Cognizant could be hurt by immigration reform. The longer it takes Congress to enact immigration reform, the better positioned Cognizant will be since it is reducing its reliance on foreign workers by hiring more employees who are already in the U.S., Kertsos added. Meanwhile, Kertsos is upbeat about the company's decision to expand its consulting business, saying that this strategy will increase the company's addressable market and "drive sustainable top-line performance." He raised his price target on the stock to $85 from $65. LOOP MORE BULLISH TOO: On August 4, Loop Capital analyst Joseph Vafi upgraded Cognizant to Buy from Hold. "Demand headwinds" that had been hurting the company are easing, while the company "has ample room" to meet its 2019 margin target, wrote Vafi, noting that its margins are currently below those of its peers. Easy comparisons should help the company's earnings per share growth begin to accelerate at the end of this year, potentially enabling its multiple to rise slightly, according to the analyst. He raised his price target on Cognizant shares to $83 from $63. PRICE ACTION: In morning trading, Cognizant added 0.7% to $70.

10:43 EDT Jacobs says underlying momentum building in U.S. infrastructure spend - Says the momentum will continue in global spending on infrastructure regardless of what happens in Washington DC.

10:37 EDT Vantiv trading halted, news pending

10:29 EDT Analyst says sell Depomed as challenging opioid environment seen persisting - Shares of Depomed (DEPO) are plunging after the company reported weaker than expected second quarter results and lowered its guidance. Reacting to the announcement, Janney Capital and Morgan Stanley downgraded the stock to Neutral and Underweight, respectively. RESULTS: Last night, Depomed reported second quarter earnings per share of 8c, which was below consensus of 9c, and announced revenue of $100M for the quarter, beating the expected $99.42M. The company also said it sees 2017 revenue of $400M-$415M, compared to consensus of $418M and the company's prior view of $410M-$430M issued in May. MOVING TO THE SIDELINES: In a post-earnings note to investors, Janney Capital analyst Ken Trbovich downgraded Depomed to Neutral from Buy after another "disappointment." While the company had pre-released second quarter results just weeks ago and had reaffirmed its full year guidance, Depomed surprised by lowering its full-year outlook for revenues and raising its expense guidance, the analyst pointed out. Trbovich noted that the revised guidance seems to be an admission that the challenges facing its business are far greater to overcome than fixing the sales force realignment implemented by the prior CEO. Further, the analyst argued that the new CEO's hope for demonstrating separation for negative industry trends for opioids by year-end has been replaced by the possibility it happens sometime next year. He also cut his fair value estimate on the stock to $8 from $18. SELL DEPOMED: Meanwhile, Morgan Stanley analyst David Risinger downgraded Depomed this morning to Underweight, a sell-equivalent rating, as he fears it will continue to underperform given pressures on the company's number one franchise, Nucynta, an opioid for pain. The analyst pointed out that opioid prescription market declines are driving lower Nucynta sales than expected, even though it has gained some market share. Government officials have been voicing increasing concerns about the opioid crisis in America, and they are intent on driving use down, Risinger said, adding that it appears that Nucynta will continue to be under pressure. Moreover, the analyst highlighted that IMS prescription market trends indicate that short-acting opioids are declining 8% year over year and long-acting opioids are declining 11% year over year. While saying it is unclear if new management appointed earlier this year and the company's board can unlock value, Risinger noted he learned that activist board member Gavin Molinelli of Starboard will shift from the Board Member seat he assumed in March 2017 to "Board Observer" on August 15. He also lowered his price target on Depomed's shares to $5 from $12. OPIOID ENVIRONMENT: On June 8, Depomed and Insys Therapeutics (INSY) were under pressure after the Food and Drug Administration requested that Endo Pharmaceuticals (ENDP) remove its opioid pain medication, reformulated Opana ER, from the market. After careful consideration, the agency is seeking removal based on its concern that the benefits of the drug may no longer outweigh its risks, the FDA stated. This was the first time the agency has taken steps to remove a currently marketed opioid pain medication from sale due to the public health consequences of abuse. PRICE ACTION: In morning trading, shares of Depomed have dropped $3.01, or 32.5%, to $6.22.

10:28 EDT Jacobs Engineering says petroleum and chemicals backlog 'ramping up'

10:19 EDT Plug Power sees FY17 GenDrive shipments at 5,600 - Plug Power (PLUG) says Q3 will be largest quarter in company's history. Expects to deliver 10 full GenKey sites and nearly 3,000 GenDrive units. Says FY17 GenDrive shipments are expected to be 5,600, GenFuel Sites at 25, and ProGen systems at 100. Says WalMart (WMT) and Amazon (AMZN) deals will be accretive to cash position and accelerate probability. Comments taken from Q2 earnings conference call.

10:11 EDT Clear Channel Outdoor rallies 15% to $5.30 after halt for volatility

10:07 EDT PDC Energy sees FY production towards bottom of 32-33MMBoe range - SVP and CFO David Honeyfield, commented, "As we manage the capital investment program, we are also adjusting the timing of completions, resulting in full-year estimated production towards the bottom of our 32 to 33 MMBoe range. This production outlook takes into account our updated turn-in-line schedule, anticipated midstream constraints in Wattenberg, and our updated production forecast from our Delaware assets. In terms of capital investment, we are committed to prioritizing the strength of our balance sheet while delivering highly economic rates-of-return on our capital program. After adjusting for the timing of drilling and certain completions and increased well costs in the Delaware, we expect full-year capital to be approximately $800M. This should set us up to exit 2017 with more than $100M of cash on the balance sheet together with the undrawn $700M commitment level on our current bank revolving credit facility." PDC Energy previously forecast FY production in the "top third" of the 30-33MMBoe range, likely in the 32-33MMBoe range.

10:01 EDT Macy's teams with designer Kobi Halperin for KOBI collection - Macy's announced the release of KOBI, a limited-time collection created for Macy's by contemporary designer Kobi Halperin, "whose eponymous line has caught the fashion world by storm with its crafted artisan details and modern femininity. Imbued with soft silhouettes and intricate embellishments, the collection created for Macy's officially available in stores and online Aug. 15 inspires women to celebrate getting dressed every day." Available on Macy's mobile app and macys.com, the KOBI collection ranges from $79 to $299, and will officially launch in 149 Macy's stores August 15.

09:57 EDT Time Inc. plans to cut more costs as revenue falls short - Shares of Time Inc. (TIME) dropped in morning trading after the publisher of Time and People magazine reported lower then expected quarterly revenue and announced plans to cut costs. QUARTERLY RESULTS: Before the market open, Time reported second quarter adjusted earnings per share of 13c, above analysts' estimates of 11c, but quarterly revenue of $694M fell below estimates of $703.5M, reflecting declines in circulation and advertising revenue. Adjusted OIBDA for the quarter was $88M, roughly flat year over year and "met expectations." Circulation revenue fell 12.3% to $207M in the quarter, while advertising revenue declined 12% to $374M. "We believe our advertising revenues were negatively impacted by the public speculation about the ownership of the company and the trailing effect of the disruption from the reorganization of our advertising sales force," the company stated. Time added that although "secular print declines are expected to continue, there is encouraging improvement in print and other advertising for the third quarter of 2017." COST-CUTTING PLANS: Time, which failed to sell itself this year due to disagreements with Meredith Corp (MDP), also announced a cost-cutting plan, and said it was targeting a path to a minimum range of $500M-$600M of adjusted OIBDA in the next three to four years. Rich Battista, Time's chief executive officer, said that "Through this review, we have greater confidence in our path to accelerate the optimization of costs and revenue growth drivers. We have already targeted more than $400M of run-rate cost savings, with the majority of initiatives expected to be implemented over the course of the next 18 months." Battista said Time will use part of these savings to invest in future key growth areas like native and branded content, video, data and targeting. WHAT'S NOTABLE: Time has considered a potential rebranding that could involve changing the company's name in order to position the company as a "more modern entity," The Wall Street Journal said last month, citing several people familiar with the situation. The previous month, Time undertook restructuring measures, cutting about 300 jobs, or 4% of its workforce. The streamlining affected print, corporate, and sales, with over half of the affected employees based in the U.S. At the time, Battista told the Journal that the company was "trying to be as nimble and efficient as possible." Time is also seeking a majority investor for Essence and is looking into the sale of Coastal Living, Sunset, and Golf magazines, and has reportedly hired an investment bank to explore the sale of its Time Inc. U.K. unit, which includes brands such as Horse & Hound, Country Life and Decanter. On its earnings conference call, Battista said Time is getting back to resuming double digit year over year growth in digital advertising. Battista also noted that Time is seeing "strong momentum" in sequential improvement of year over year trends for total advertising revenues in Q3. PRICE ACTION: Time Inc. is down over 6% to $12.95 in early trading. Shares are down 27.5% year-to-date.

09:48 EDT Old National acquires Minnesota-based Anchor Bancorp for $303.2M - Old National Bancorp (ONB) and St. Paul, Minnesota-based Anchor Bancorp jointly announced today the execution of a definitive agreement under which Old National will acquire Anchor through a stock and cash merger. With $2.1B in total assets, Anchor is a bank holding company with Anchor Bank, N.A. as its wholly-owned subsidiary. Under the terms of the agreement, Anchor shareholders will receive 1.35 shares of Old National common stock and $2.625 in cash for each share of common stock of Anchor they hold. Based on Old National's closing share price on August 7, this represents a total transaction value of approximately $303.2M. The definitive merger agreement has been unanimously approved by the boards of both Old National and Anchor. The transaction remains subject to regulatory approval and the vote of Anchor shareholders. The transaction is anticipated to close early in Q1 of 2018.

09:43 EDT CVS Health says relationship with Aetna 'continues to be very good' - Says both organizations working extremely well together.

09:32 EDT Old National Bancorp to acquire Anchor Bancorp - Old National Bancorp (ONB) and Anchor Bancorp,(ANCB) jointly announced the execution of a definitive agreement under which Old National will acquire Anchor through a stock and cash merger. When completed, this transaction will position Old National as the seventh largest deposit holder in the Twin Cities market. With $2.1B in total assets, $1.6B in total loans, $1.7B in deposits, and $164M in common shareholder's equity as of June 30, Anchor is a bank holding company with Anchor Bank as its wholly-owned subsidiary. This transaction is a continuation of Old National's strategy to focus the expansion of its franchise in demographically attractive and economically vibrant growth markets with favorable competitive dynamics. Under the terms of the agreement, Anchor shareholders will receive 1.35 shares of Old National common stock and $2.625 in cash for each share of common stock of Anchor they hold. Based on Old National's closing share price on August 7, of $16.45, this represents a total transaction value of approximately $303.2M. The transaction value is likely to change due to fluctuations in the price of Old National common stock and is also subject to adjustment under certain circumstances as provided in the merger agreement. The definitive merger agreement has been unanimously approved by the Board of Directors of both Old National and Anchor. The transaction remains subject to regulatory approval and the vote of Anchor shareholders. The transaction is anticipated to close early in first quarter 2018.

09:31 EDT Ralph Lauren CFO says not planning share repurchases for FY18 - Says first priority for cash is to invest in business, second priority is to return cash to shareholders. Excess cash flow will be considered for future potential buybacks. Says not planning share repurchases for FY18. Sees FY18 CapEx approx. $300M.

09:28 EDT Ralph Lauren: FX becoming less of a tailwind, turning into headwind for SG&A

09:25 EDT Novocure announecs national reimbursement for Optune in Austria - Novocure has signed a contract with the Federation of the Austrian Social Insurance Institutions which grants reimbursement across Austria for Optune - Novocure's Tumor Treating Fields delivery system - for the treatment of adults with newly diagnosed glioblastoma. All 18 Austrian insurance funds have agreed to participate in the contract. With a defined reimbursement pathway now established in Austria, Novocure's efforts will turn to increasing adoption. Novocure estimates approximately 280 people are diagnosed with GBM or tumors that typically progress to GBM in Austria each year. Of this population, Novocure estimates that approximately 210 patients are candidates for treatment with Optune based upon the rate of disease progression and medical eligibility.

09:23 EDT VistaGen receives notice of allowance for patent related to stem cells - VistaGen Therapeutics announced that the Company has received a Notice of Allowance from the U.S. Patent and Trademark Office, or USPTO, for U.S. Patent Application No. 14/359,517 regarding proprietary methods for producing hematopoietic precursor stem cells, which are stem cells that give rise to all of the blood cells and most of the bone marrow cells in the body, with potential to impact both direct and supportive therapy for autoimmune disorders and cancer.

09:21 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Ralph Lauren (RL), up 8.3%... CBS (CBS), up 1.1%... Michael Kors (KORS), up 17.9%... Endo (ENDP), up 3.8%. DOWN AFTER EARNINGS: CVS Health (CVS), down 1.4%... Wayfair (W), down 1.3%... SeaWorld (SEAS), down 19.5%... Dean Foods (DF), down 13.2%.

09:20 EDT AMC Entertainment sells 50% stake in Open Road Films to Tang Media - AMC Entertainment Holdings reported the sale of its 50% ownership stake in Open Road Releasing, LLC to Tang Media Partners. "AMC is honored to be working with Tang Media Partners as it takes over the helm of Open Road Films," said AMC President and CEO Adam Aron. "We look forward to close cooperation with TMP in active support of the movies Open Road brings to our theatres. The sale of our ownership stake in Open Road is consistent with our plan announced this past Friday to identify non-strategic assets, all together totaling $400M, that can be monetized over the next twenty-four months. Implementing that plan has now begun."

09:12 EDT Assured Guaranty files adversay complaint against PREPA - Assured Guaranty released the following comments regarding the adversary complaint filed yesterday challenging the Puerto Rico Electric Power Authority's failure to remit special revenue bond collateral for the timely payment of debt service on its bonds. Two Assured Guaranty bond insurance subsidiaries, Assured Guaranty Municipal and Assured Guaranty filed an adversary complaint in Federal District Court in Puerto Rico yesterday seeking a judgment declaring that the application of pledged special revenues to the payment of the Bonds is not subject to the automatic stay under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act and that PREPA has violated the special revenue protections provided to the Bonds under the Bankruptcy Code by failing to remit such revenues for the payment of the Bonds; a judgment declaring that capital expenditures and other PREPA expenses that are not reasonable and necessary to operate the electric system do not constitute "necessary operating expenses" under the Bankruptcy Code and therefore may not be charged against PREPA's special revenues prior to the payment of the Bonds; a judgment declaring that the use of PREPA's special revenues to pay capital expenditures and other PREPA expenses that are not reasonable and necessary to operate the electric system prior to the payment of the Bonds violates the Takings and Due Process Clauses of the U.S. Constitution; an injunction enjoining PREPA from taking or causing to be taken any action that would further violate the special revenue protections provided to the Bonds under the Bankruptcy Code, and using its special revenues to pay for capital expenditures and other PREPA expenses that are not reasonable and necessary to operate the electric system prior to the payment of the Bonds; and an order requiring PREPA to remit the pledged special revenues securing the Bonds in accordance with the terms of the special revenue provisions set forth in the Bankruptcy Code.

09:09 EDT CVS Health says remains 'very confident' in FY17 forecast

09:08 EDT CVS Health sees FY17 Retail/LTC net revenue (3.5%)-(2.75%) - Sees FY17 Retail/LTC: Same store sales (4.25%)-(3.5%); same store adjusted scripts (0.75%)-0.25%; modest improvement in gross profit margin; significant deterioration in operating expense; operating profit change (10%)-(8.75%); notable decline in operating profit margin.

09:06 EDT Oracle launches two new real-time banking solutions - Oracle announced the launch of two new solutions: Oracle Banking Liquidity Management and Oracle Banking Corporate Lending. These offerings are designed to meet the needs of banks looking to provide real-time, multi-currency, cross border, multi-entity banking services while maintaining high fidelity insight and multi-jurisdictional compliance.

09:04 EDT La Jolla announces launch of expanded access program for LJPC-501 - La Jolla Pharmaceutical announced that the company has initiated an expanded access program in the U.S. to provide its investigational drug, LJPC-501, to patients with vasodilatory or distributive shock who cannot achieve target mean arterial pressure despite adequate fluid resuscitation and treatment with currently available vasopressors. The LJPC-501 EAP is a program for U.S. patients 18 years of age or older with vasodilatory or distributive shock who are unable to achieve target MAP despite adequate fluid resuscitation and treatment with currently available vasopressors. The enrollment criteria are available at www.clinicaltrials.gov.

09:02 EDT EyeLock enters into partnership with Australian distributor CSD - EyeLock, a majority-owned subsidiary of VOXX International, announced that it has entered into a partnership with CSD, an Australian distributor of world-leading electronic security brands, to deliver EyeLock's product suite of hardware and software solutions to its broad customer base in Australia.

09:02 EDT Sify Technologies expands network to Interxion Marseille - Interxion Holding (INXN) and Sify Technologies Limited (SIFY) announced that Sify has established a network point of presence at Interxion's MRS1 data centre in Marseille, France. Sify's network expansion to Marseille enhances its ability to provide international services to its 9000+ enterprise customers on the Indian sub-continent. In addition, Sify can now enable interconnections for their wholesale partners seeking state-of-the-art solutions to reach India from Marseille, Europe's gateway to Asia, the Middle East and Africa.

08:59 EDT Quest Resource renews food waste recycling contract with Kroger - Quest Resource (QRHC) announced the renewal of a three-year waste minimization contract with the Kroger (KR). Quest will continue to implement custom food waste and meat recycling solutions for the retailer's banners across the United States.

08:50 EDT New York REIT sells Varick street property in Manhattan for $135.0M - New York REIT, which is liquidating and winding down pursuant to a plan of liquidation, announced the sale of its 50 Varick Street office property in Manhattan, New York for a gross sales price of $135.0M. The property was part of the collateral for the Company's $760M cross collateralized and secured loan. In connection with the sale, the Company paid down $78.1M of debt as required under the loan. After satisfaction of debt, pro-rations and closing costs the Company received net proceeds of approximately $49.1M.

08:44 EDT Michael Kors 'not ready to call a bottom' in watches, but seeing improvement

08:39 EDT Valeant thinks latanoprostene bunod CRL related only to Tampa facility - Valeant executives repeated that they do not think the Complete Response Letter for latanoprostene bunod ophthalmic solution is related to any FDA efficacy or safety concerns.

08:35 EDT Ampio receives patent in USA related to autologous or allogenic stem cells - Ampio Pharmaceuticals announced the allowance of an important composition and methods patent in the USA complimenting a series of patents on Ampion. The patent is entitled: "COMPOSITIONS FOR THE MOBILIZATION, HOMING, EXPANSION, AND DIFFERENTIATION OF STEM CELLS AND METHODS OF USING THE SAME." The patent includes 34 allowed claims. Autologous or allogenic stem cells are used in clinical practice, including for osteoarthritis of the knee. Ampion has demonstrated in vitro effects on mesenchymal stem cells on recruitment and differentiation. This process occurs naturally in the body, however, to augment the number of stem cells that would survive after injection in the body and their differentiation into tissue specific cells, incubating them with Ampion prior to injection is the subject of this patent.

08:33 EDT Durect announces Phase 3 clinical study of ORADUR-Methylphenidate ER Capsule - DURECT announced that Orient Pharma, its licensee for certain Asian and South Pacific countries, has informed DURECT that a Phase 3 clinical study of ORADUR-Methylphenidate ER Capsule conducted in Taiwan has achieved positive results. ORADUR-Methylphenidate ER Capsule is an investigational drug candidate for the treatment of attention deficit hyperactivity disorder, ADHD.

08:31 EDT PHH Corp. comments on settlement with DOJ - PHH Corporation (PHH) issued the following statement in conjunction with the settlement agreements it has entered into with the U.S. Department of Justice on behalf of the Department of Housing and Urban Development and separately with the DOJ on behalf of the U.S. Department of Veteran Affairs and the Federal Housing Finance Agency to resolve certain previously disclosed matters regarding legacy mortgage origination and underwriting activities. The settlement agreements cover certain mortgage loans insured by the Federal Housing Administration during the period between January 1, 2006 and December 31, 2011, certain mortgage loans insured by the VA, and certain mortgage loans sold to Fannie Mae (FNMA) and Freddie Mac (FMCC): We have agreed to resolve these matters, which cover certain legacy origination and underwriting activities, without admitting liability, in order to avoid the distraction and expense of potential litigation. While we cooperated fully in these investigations since receiving subpoenas in 2013, we concluded that settling these matters is in the best interest of PHH and its constituents. Adhering to high legal, regulatory and ethical standards is at the core of how we conduct business, and we remain committed to serving our customers and all of our stakeholders consistent with that principle." Under the terms of the agreements, PHH will pay approximately $75M in aggregate to the DOJ. During the second quarter of 2017, the company increased its recorded liability for legal and regulatory reserves by $13M, reflecting adjustments for these settlements and provisions for other matters. These settlements are included in the company's recorded liability as of June 30, 2017.

08:22 EDT Valeant CFO says Salix business had 'very strong quarter' - Herendeen said Salix "had a very strong quarter, posting organic growth of 16%. We enjoyed improved net pricing in the Salix business as result of modest price increases across the GI portfolio as well as favorable gross-to-net items compared with the prior year quarter. While the improved net pricing is awesome, I just caution that part of that improvement is less durable than the rest. Also encouraging, Salix volume was up over the prior year quarter by some of 350 basis points, mainly driven by increased demand from XIFAXAN. We made considerable investments in the new Primary Care sales team, and we're starting to see measurable progress growing XIFAXAN prescriptions for IBS-D." In Q2, total prescriptions for XIFAXAN were up 2% while extended units, which means the total prescriptions multiplied by the bills for Rx, were up 4% compared with Q2 last year, he noted. Valeant CFO Paul Herendeen is speaking on the company's Q2 earnings call.

08:16 EDT Cheniere Energy Partners sees FY17 dividend $1.70-$1.90

08:14 EDT Overstock.com announces integration with ShapeShift - Overstock.com announces an integration with ShapeShift, the world's leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock.

08:11 EDT BroadSoft achieves FedRAMP compliance milestone for Cloud PBX - BroadSoft announced that its comprehensive cloud-based unified communications and collaboration applications suite, BroadSoft Government Cloud, has attained the federal risk and authorization management program's, or FedRAMP, "In Process" status. This achievement demonstrates that BroadSoft now has an agency sponsor as it continues working through the government FedRAMP Security Assessment Framework. FedRAMP is a government-wide program that provides a standardized approach to security assessment, authorization and continuous monitoring for cloud products and services. By reaching this milestone, BroadSoft has demonstrated that it is qualified to meet the US government's strict regulatory and compliance requirements, as it continues toward attaining full authorization status to receive authorizations to operate, or ATOs, among all federal agencies.

08:11 EDT Valeant CEO says 'good progress' made on legacy legal issues - Valeant CEO Joseph Papa is speaking on the company's Q2 earnings call.

08:09 EDT MBIA's NPFGC files adversary complaint in U.S. District Court - National Public Finance Guarantee Corporation, an indirect subsidiary of MBIA Inc., said that National and other creditors have filed an Adversary Complaint in the U.S. District Court for the District of Puerto Rico seeking to compel the Puerto Rico Electric Power Authority to deposit revenues with the bond Trustee as required by the terms of the PREPA Trust Agreement, PROMESA and the U.S. Constitution. "PREPA has a clear and unambiguous legal obligation to turn over pledged revenues to the bond Trustee, and that obligation holds during a Title III proceeding," said Bill Fallon, CEO of National Public Finance Guarantee Corporation. "PREPA's obligation to remit these funds resumed upon PREPA's and the Oversight Board's decisions to walk away from a consensual agreement that was supported by almost 70 percent of its creditors. National intends to hold PREPA accountable for its actions." PROMESA protects revenue bondholders by specifically incorporating the special revenue protections of the U.S. Bankruptcy Code into Title III. These protections guarantee that the Creditor Group receives the benefit of its bargain by protecting its lien after a Title III filing, and by ensuring the payment of debt service on their bonds without interference from the automatic stay.

08:07 EDT Cheniere Energy sees FY17 adjusted EBITDA $1.6B-$1.8B - Sees FY17 distributable cash flow per share $2.10-$2.80.

08:06 EDT Natural Resource Partners announces resignation of COO and succession plan - Natural Resource Partners announced that Wyatt L. Hogan, NRP's President and COO, has resigned effective August 8. Craig W. Nunez, NRP's CFO and Treasurer, will succeed Hogan as President and COO, and Christopher J. Zolas, NRP's Chief Accounting Officer, will succeed Mr. Nunez as NRP's CFO and Treasurer. Hogan joined NRP in 2003 as Vice President and General Counsel, and he has served as President since 2014. Over the years, Mr. Hogan has overseen NRP's diversification efforts and strategic planning and most recently, led NRP through completion of the recapitalization transactions that strengthened NRP's balance sheet. Hogan will remain an employee of Quintana Minerals and continue to provide services to NRP as necessary to ensure a seamless transition.

08:03 EDT Ralph Lauren reports Q1 North America SSS down 8% - North America revenue in the first quarter decreased 17% to $710M. The decline was due to lower sales in both the retail and wholesale channels, driven by distribution and brand exits, a strategic reduction in shipments and promotional activity to increase quality of sales, as well as due to lower consumer demand. On a constant currency basis, comparable store sales in North America were down 8%, including a 4% decline in brick and mortar stores and a 22% decrease in e-commerce that reflected a planned reduction in inventory, reduced SKU count and reduced promotional activity. Europe revenue in the first quarter decreased 14% to $323M on a reported basis and 10% in constant currency. On a constant currency basis, comparable store sales in Europe were down 8%, including an 8% decline in brick and mortar stores and a 5% decline in e-commerce. Asia revenue in the first quarter decreased 1% on a reported basis to $209M and increased 1% in constant currency. Comparable store sales increased 2% in constant currency driven by higher traffic.

08:00 EDT Accenture acquires Concrete Solutions; terms not disclosed - Accenture has acquired Concrete Solutions, a Brazilian company that specializes in applying Lean and Agile software-development methodologies to develop cloud-based mobile solutions and web applications. Founded in 2001, Concrete Solutions has more than 400 employees across three locations in Brazil.

07:43 EDT KemPharm publishes data on intranasal abuse of hydrocodone combination products - KemPharm announced the publication of the results from a study conducted by Inflexxion evaluating the patterns of abuse and how immediate-release hydrocodone acetaminophen combination products are administrated in the peer-reviewed journal Pharmacoepidemiology & Drug Safety. Titled "Patterns of Abuse and Routes of Administration for Immediate-Release Hydrocodone Combination Products," the peer reviewed manuscript examined prevalence of abuse of immediate-release hydrocodone combination products as compared to other classes of opioids. While prescriptions for hydrocodone combination products have recently decreased, they remain the most widely prescribed opioid products in the United States and are subject to frequent abuse among adults and adolescents. Few data existed to understand the contribution of IR products to the problem of prescription opioid abuse. This epidemiological study sought to better understand abuse patterns for IR hydrocodone combination products among adult and adolescent substance abusers. "Our findings suggest that frequently prescribed opioids, such as hydrocodone IR combination products, may contribute substantially to the overall problem of prescription opioid abuse," stated Travis Mickle, Ph.D., president and CEO of KemPharm and co-author. "The data from this study of the epidemiology of abuse of opioids in the United States confirm a prevalence of intranasal abuse of IR hydrocodone combination products among about 23% of adults and 43% of adolescents assessed for substance abuse treatment in the sampled from the Addiction Severity Index - Multimedia Version/ Comprehensive Health Assessment for Teens database. Considering that hydrocodone is the most widely prescribed opioid in the US, these figures translate into a large absolute number of individuals abusing these products intranasally. KemPharm believes this represents a significant public health risk that requires a multimodal mitigation approach, including abuse deterrent technologies."

07:38 EDT Digital Guardian, ZixCorp form strategic partnership - Digital Guardian announced a strategic partnership with Zix Corporation. The partnership will enable Zix to deliver its best-in-class email encryption with Digital Guardian's enterprise data loss prevention offering and provide added value to customers that face regulatory burdens. The combined solution of Digital Guardian and Zix provides advanced technology for identifying and remediating sensitive regulated data across all network channels and data storage facilities, while automating email encryption to easily secure sensitive information in email. The solution will also be offered on an annual subscription basis, reducing upfront costs.

07:36 EDT Milestone Scientific announces first patient treated with CompuFlo in Miami - Milestone Scientific announced that the first patient in the U.S was treated with the CompuFlo Epidural Instrument at the University of Miami Hospital, following Milestone Scientific's receipt of 510(k) clearance from the U.S. Food and Drug Administration on June 9. The CompuFlo Epidural Instrument provides anesthesiologists and medical practitioners, for the first time, with the unique ability to objectively identify and confirm the epidural space.

07:34 EDT Neptune Technologies: John Moretz to replace Pierre Fitzgibbon as chairman - Neptune Technologies & Bioressources announced that Pierre Fitzgibbon has resigned as a Board member of the Corporation. John Moretz has been appointed Chairman of the Board effective immediately to replace Fitzgibbon, the Chairman for the past three years. Moretz has been a Board member of the Corporation since 2014.

07:33 EDT Northrop Grumman awarded contract to upgrade radio terminals abord Joint STARS - The U.S. Air Force has awarded Northrop Grumman a contract to upgrade existing radio terminals aboard the E-8C Joint Surveillance Target Attack Radar System fleet and replace them with Air Force Tactical Receive System-Ruggedized terminals. AFTRS-R assures capability for the Joint STARS fleet and those interacting with the weapon system to receive intelligence reports, including threat warnings in hostile environments, ensuring undiminished battle management in support of warfighters in the air, on the ground and at sea. The AFTRS-R contract is a separate delivery order under the indefinite-delivery/indefinite-quantity Joint STARS Systems Improvement Program III contract awarded by the U.S. Air Force to Northrop Grumman in October 2013. Other modifications under JSSIP III to maintain 21st-century mission readiness include the Global Imagery Server, which allows for the display of worldwide imagery data on all Joint STARS operator work stations, and the Automatic Identification System that will provide Joint STARS with a permanent, integrated solution for maritime identification of participating vessels.

07:33 EDT SMIC sees Q3 revenue flat to up by 3% compared to Q2 - Sees Q3 gross margin 22%-24%; non-GAAP operating expenses, excluding the effect of employee bonus accrual, government funding and gain from the disposal of living quarters, to range from $179M-$185M; non-controlling interests of majority-owned subsidiaries to range from zero to positive $3M.

07:22 EDT Ionis Pharma sees FY17 pro forma operating income in the mid $50M range - The company said, "As a result of our strong financial performance in the first half of 2017, including our increasing SPINRAZA royalty revenue, we are revising upward our 2017 guidance. We expect to end 2017 with pro forma operating income in the mid $50M range and more than $950M in cash. Our revised guidance is substantially improved over our original guidance of break even at the operating line on a pro forma basis and year end cash of more than $825M. Because we have several large potential payments in the second half of 2017, we are being particularly conservative with our guidance this year."

07:19 EDT TransDigm CEO says Q3 results 'in-line with our expectations' - "We are pleased with our operating results for both the fiscal third quarter and year-to-date periods," stated W. Nicholas Howley, TransDigm Group's Chairman and CEO. "Our overall performance was in-line with our expectations with some modest puts and takes across our markets. Fiscal third quarter commercial transport aftermarket revenues were up in the mid to high-single digit percentage range despite ongoing weakness in our interior businesses. This was partially offset by continuing weakness in our business jet and helicopter aftermarket revenues. Our defense revenues continue to grow more than originally anticipated. We stayed focused on our value drivers and continued to expand our EBITDA margins. All in all, a good quarter for intrinsic shareholder value creation."

07:15 EDT Cobalt sees FY17 capital expenditures $250M - The companu said, "We expect capital expenditures to be approximately $250M in 2017, which excludes general and administrative expenses and interest expense. Of this amount, approximately $206M has been spent as of June 30, 2017; however, given that drilling activities have been completed at Shenandoah, Anchor and North Platte, cash outlays for capital expenditures are expected to significantly decrease for the remainder of 2017. Total 2017 cash outlays are currently expected to be approximately $550M, of which approximately $359M has been spent as of June 30."

07:12 EDT Church & Dwight completes purchase of Water Pik - Church & Dwight has completed its previously announced acquisition of Water Pik. The transaction was completed substantially under the original terms announced on July 17, 2017, which called for Church & Dwight to pay approximately $1B in cash at closing.

07:11 EDT ITG reports July trading volume 2.6B shares - ITG announced that July 2017 U.S. trading volume was 2.6B shares and average daily volume was 129M shares, compared to 3.6B shares and ADV of 166M shares in June 2017 and 2.2B shares and ADV of 112M shares in July 2016. There were 20 trading days in both July 2017 and July 2016 and 22 trading days in June 2017.

07:10 EDT Denbury Resources sees bank debt at end of 2017 $425M-$475M - Assuming oil prices remain in the upper $40's per Bbl for the remainder of 2017, and based on currently-projected cash flows and capital spending levels, the Company anticipates that its bank debt at the end of 2017 should be in the range of $425M-$475M which would provide more than $500M of available liquidity under the Company's bank line.

07:08 EDT Valeant reports cash, cash equivalents and restricted cash of $2.025B at June 30 - Valeant's cash, cash equivalents and restricted cash were $2.025B at June 30, 2017. The company's availability under the Revolving Credit Facility was approximately $930M at June 30, 2017. Valeant's corporate credit ratings remained unchanged during the second quarter of 2017.

07:06 EDT Aclaris Therapeutics acquires Confluence Life Sciences in cash, stock deal - Aclaris Therapeutics announced that it has acquired Confluence Life Sciences, a privately held biotechnology company focused on the discovery and development of kinase inhibitors to treat inflammatory and immunological disorders and cancer. At the closing, Aclaris paid approximately $10M in cash and issued approximately 350,000 shares of its common stock, with a value of approximately $10M on the closing date, to the former equityholders of Confluence.

07:05 EDT Dean Foods expands annual cost productivity program by $40M-$50M - Dean Foods announces an expansion of its cost productivity program targeting an incremental annual cost reduction of $40M-$50M.

07:01 EDT Zendesk says Bryan Cox resigns as Chief Revenue Officer - Zendesk announced that Chief Revenue Officer Bryan Cox has resigned effective September 15, 2017 to pursue an opportunity in the venture capital industry. Cox has agreed to remain at Zendesk until the date of his resignation to assist in the transition of his responsibilities.

06:59 EDT CVS Health backs FY17 free cash flow view of $6.0B-$6.4B - The company confirmed its 2017 cash flow from operations guidance of $7.7B-$8.6B and free cash flow guidance of $6.0B-$6.4B. These 2017 guidance estimates assume the completion of $5.0B in share repurchases.

06:57 EDT Virtusa anticipates restructuring charges of $1.5M in Q2 and Q3 - Virtusa anticipates a total restructuring charge of $1.5M in the Q2 and Q3 related to resource optimization initiatives. This charge is reflected in the current second quarter and full year GAAP EPS guidance, and not included in Non-GAAP EPS guidance.

06:48 EDT Herc Holdings reaffirms FY17 adjusted EBITDA view $550M-$590M - Reaffirms FY17 net fleet capital expenditures $275M-$325M.

06:42 EDT Zebra Technologies sees FY17 adjusted EBITDA margin 18%-19% - The company expects approximately 3% to 6% organic net sales growth for the FY17, which is at the higher end of our prior outlook. This expectation excludes a 3% point adverse impact from wireless LAN business sales and assumes minimal foreign currency impact. The company expects organic net sales growth to moderate through 2017 considering year-over-year comparisons. For the FY17, the company expects to make debt principal payments totaling at least $300M.

06:38 EDT SAIC awarded $48M task order by National Institute of Mental Health - The National Institute of Mental Health awarded Science Applications International Corp. a task order to continue to support the full range of information technology services necessary for the centralized planning, implementation, and management support of the NIMH technology environment. The NIMH Software Development and IT Services single-award task order has a one-year base period of performance, four one-year options, and a total award value of approximately $48M, if all options are exercised. Work will be performed at the NIMH Rockville, Maryland locations.

06:33 EDT Materialise sees FY17 revenue EUR128M-EUR134M - SeesFY17 Adjusted EBITDA EUR10.5M-EUR13.5M.

06:24 EDT Gartner sees FY17 adjusted EBITDA $685M-$720M - Sees FY17 adjusted free cash flow $335M-$355M.

06:19 EDT Lexington Realty sees FY17 EPS 65c-69c, consensus 35c - Reaffirms FY17 Adjusted FFO 94c-98c. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.

06:14 EDT Pattern Energy backs FY17 cash available for distribution of $140M-$165M - Pattern Energy is re-confirming its targeted annual cash available for distribution for 2017 within a range of $140 million to $165 million, representing an increase of 15% at the midpoint of the range, compared to cash available for distribution in 2016.

06:13 EDT STERIS raises quarterly interim dividend to 31c from 28c per share - The dividend is payable September 28 to shareholders of record at the close of business on August 29.

06:07 EDT State Auto Financial reports book value $21.74 as of June 30 - Reprots book value represents an increase of 43c per share from STFC's book value on December 31, 2016.

06:04 EDT Time Inc. reaffirms FY17 adjusted OIBDA view - CEO Rich Battista said, "I am pleased with our Q2 Adjusted OIBDA of $88M, which was roughly flat year-over-year. Our revenues continued to be impacted by disruption through the first half of 2017, as we said on our last call. Despite that revenue disruption, we executed in a highly disciplined way, which enabled us to beat Adjusted OIBDA expectations. The Q3 represents an important turning point for the Company as we are seeing strong momentum and sequential improvement of year-over-year trends for total advertising revenues. Today, we are reaffirming our 2017 Adjusted OIBDA outlook. On our last earnings call, we outlined aggressive actions to reduce costs, expand margins, rationalize our portfolio and extend our brands into new growth revenue streams. We've been moving with speed and, most significantly, we are announcing today, a strategic transformation program based on a thorough review of Time Inc.'s business. Through this review, we have greater confidence in our path to accelerate the optimization of costs and revenue growth drivers. We have already targeted more than $400M of run-rate cost savings, with the majority of initiatives expected to be implemented over the course of the next 18 months. We plan to use a portion of these savings to invest in our future in key growth areas including native and branded content, video, data and targeting, paid products and services, and brand extensions. With this program, we expect to realize significant cost savings and reinvest in our future, and we see a path to a minimum range of $500M-$600M of Adjusted OIBDA within the next three to four years."

06:01 EDT Merck says NICE recommends Erbitux/platinum-based chemotherapy combination - Merck announced that the National Institute for Health and Care Excellence, or NICE, for England has issued a positive Final Appraisal Determination, or FAD, recommending the routine National Health Service, or NHS, use of Erbitux in combination with platinum-based chemotherapy as a first-line therapy for the treatment of patients with recurrent and/or metastatic, or R/M, squamous cell carcinoma of the head and neck, or SCCHN, in the oral cavity. NICE's decision confirms the positive benefit Erbitux can have on the survival of patients in this setting. Erbitux is already established and reimbursed as an effective therapy for different stages of SCCHN across many countries worldwide.

05:46 EDT Vantiv announces further extension of PUSU deadline for Worldpay merger - On July 5, Worldpay and Vantiv announced that they had reached agreement in principle on the key terms of a potential merger of Worldpay and Vantiv. On August 1, Worldpay announced that, in accordance with Rule 2.6(a) of the Code, the deadline by which Vantiv is required to clarify its intentions by either announcing a firm intention to make an offer or that it does not intend to make an offer had been extended to 5.00pm on August 8. Positive discussions are continuing between Worldpay and Vantiv. Therefore, the Board of Worldpay has requested that the Panel on Takeovers and Mergers (the Panel) extend the PUSU Deadline. In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Vantiv is required, by not later than 5.00pm on August 11, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. The announcement of Worldpay's half year results for the period ended 30 June 2017, and Vantiv's Q2 results, will now take place on Wednesday, August 9.

05:40 EDT RCI agrees to acquire DAE - RCI, part of the Wyndham Worldwide family of brands, has reached an agreement with vacation group Beneficium to acquire DAE Global Pty, operator of Dial An Exchange, a leading timeshare exchange company headquartered in Australia, and @Work International, a software company also based in Australia. The deal is subject to customary conditions precedent, including receipt of applicable regulatory approval. DAE's offices in Australia, New Zealand, US and Egypt will become part of RCI upon completion of the acquisition. The addition of DAE will complement RCI's existing business, broaden its appeal to a new base of travelers and strengthen its position as a leader within the global alternative holiday accommodation sector.