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

18:41 EDT Home Bancshares receives regulatory approvals for merger with Stonegate Bank - Home BancShares (HOMB) announced it has received approval from the Federal Reserve Board and the Arkansas State Bank Board of its applications for the previously announced merger with Stonegate Bank (SGBK). Additionally, Home's Form S-4 registration statement to register the shares of Home common stock to be issued to Stonegate's shareholders in connection with the merger has been declared effective by the SEC. The acquisition is expected to close in late September subject to Home and Stonegate shareholder approval.

18:05 EDT Baozun reports Q2 Total Gross Merchandise Volume RMB3.604B - An increase of 63.5% year-over-year. Distribution GMV was RMB586.4M, an increase of 9.5% year-over-year. Non-distribution GMV6 was RMB3,018.5M, an increase of 80.9% year-over-year. Number of brand partners increased to 140 as of June 30, 2017, from 120 as of June 30, 2016. Number of GMV brand partners increased to 129 as of June 30, 2017, from 108 as of June 30, 2016.

17:51 EDT Harvest Capital reports 6.1% stake in Green Dot

17:41 EDT Transocean director acquires 2,000 registered shares - In a regulatory filing, Transocean director Vanessa Chang disclosed the acquisition of 2,000 registered shares of the company at a price of $7.56 per share. The transaction brings Chang's total direct registered stock ownership to 50,154 shares.

17:29 EDT Sorrento closes transactions contemplated by contribution pact with Celularity - Sorrento Therapeutics announced that the transactions contemplated by the contribution agreement it entered with Celularity has closed. Sorrento previously announced that it together with its subsidiary, TNK Therapeutics had entered into a definitive agreement to offer certain immuno-oncology and cellular therapy intellectual property and assets to Celularity, a company being formed and run by former Celgene Cellular Therapeutics CEO, Robert Hariri, MD/PhD.Celularity, a newly formed biotechnology company, announced its acceleration of cell and tissue regenerative therapies to address unmet medical needs in cancer and chronic and degenerative disease. Celularity completed their Series A financing with contributions from several biopharma companies, including Sorrento Therapeutics, United Therapeutics Corporation and Human Longevity, Inc., and entrepreneurial investors.

17:19 EDT Northrop Grumman awarded $328.6M government contract - Northrop Grumman Systems Corp., Redondo Beach, California, has been awarded a $328,584,830 contract for Ground-based Strategic Deterrent. This contract is to conduct technology maturation and risk reduction to deliver a low technical risk, affordable total system replacement of Minuteman III to meet intercontinental ballistic missiles operational requirements. Work will be performed in Redondo Beach, California, and other various locations as needed and is expected to be completed by Aug. 20, 2020. This award is the result of competitive acquisition and three offers were received. Fiscal 2017 research, development, test and evaluation funds in the amount of $5.7M are being obligated at time of award. Air Force Nuclear Weapons Center, Hill Air Force Base, Utah, is the contracting activity.

17:17 EDT Lockheed Martin awarded $427M government contract - Lockheed Martin Corp., Lockheed Martin Aeronautics Co., Fort Worth, Texas, is being awarded not-to-exceed $427,088,637 for undefinitized order N0001917F0027 against a previously issued basic ordering agreement. This order provides for the procurement of ancillary military equipment and pilot flight equipment for low rate initial production Lot 11 F-35 Joint Strike Fighter aircraft for the Air Force, Marine Corps, Navy, non-Department of Defense participants and foreign military sales (FMS) customers. Work is expected to be completed in December 2020. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

17:07 EDT Exxon Mobil says fire at a refinery in Botlek, Rotterdam - Reference Link

17:01 EDT RadNet's Forthuber sells 18,500 shares of company stock - Stephen Forthuber, president of eastern operations and COO of eastern operations at RadNet, disclosed in a filing on Monday that he had sold 18,500 shares of company stock at an average price of $8.38 per share on August 21. The total transaction value was $155,030.

16:56 EDT Carriage Services repurchases 100,000 shares of common stock from CEO - Carriage Services announced that it purchased 100,000 shares of its common stock on Friday, August 18, from Melvin Payne, Chairman of its Board of Directors and CEO. These shares were issued and outstanding and had been held by Payne prior to such repurchase for over 1 year. The purchase of these shares was made pursuant to a privately negotiated transaction at a price of $23.85 per share. The purchase price was the stock's trading price at the time of the transaction. The repurchase of the shares held by Payne was approved in advance by the company's Board of Directors, with Payne abstaining.

16:41 EDT Tarena announces $30M share repurchase plan - The board of directors has authorized a share repurchase plan under which the company may repurchase up to $30M of its shares over the next 12 months.

16:27 EDT Nova Lifestyle CFO Yuen Ching Ho resigns - On August 15, the board of directors of Nova LifeStyle, received a resignation letter from Mr. Yuen Ching Ho, a member of the Board and CFO of the company, effective on August 15. Ho indicated his resignation is due to his personal reasons and not because of any disagreement with the company or the board. The company is in the process of interviewing candidates to fill the vacancies created by the resignation of Mr. Ho.

16:18 EDT ECMC Group reports 7.1% passive stake in Performant Financial

16:18 EDT Fabrinet authorizes share repurchase of up to $30M of stock - Fabrinet announced that its board of directors has approved a share repurchase program to permit the company to repurchase up to $30M worth of its issued and outstanding ordinary shares in the open market in accordance with applicable rules and regulations, at such time and such prices as management may decide.

16:14 EDT QIAGEN, Clinical Genomics partner on liquid biopsies for CRC monitoring - QIAGEN and Clinical Genomics, a private company developing evidence-based diagnostic tools for colorectal cancer, announced they have implemented the PAXgene Blood ccfDNA Tube sample collection in Clinical Genomics' Colvera colorectal cancer, CRC, recurrence assay. Colvera, an integrated liquid biopsy solution, is designed to enable easy and accurate monitoring for recurrence of colorectal cancer with a simple blood test collected in a physician's office.

16:12 EDT QIAGEN, Clinical Genomics partner on liquid biopsies - QIAGEN and Clinical Genomics announced they have implemented the PAXgene Blood ccfDNA Tube sample collection in Clinical Genomics' Colvera colorectal cancer recurrence assay. Colvera, an integrated liquid biopsy solution, is designed to enable easy and accurate monitoring for recurrence of colorectal cancer with a simple blood test collected in a physician's office.

16:08 EDT WMIH retains Keefe, Bruyette & Woods as financial advisor - WMIH announced that the Finance Committee of the company's Board of Directors has retained Keefe, Bruyette & Woods to provide certain financial advisory services in connection with the Finance Committee's mandate to review the company's capital structure and potential financing alternatives. Steve Scheiwe, Chairman of the Company's Board and the Finance Committee, stated "We remain committed to consummating an accretive acquisition transaction and to delivering value to our stockholders. However, we are mindful that the Company's Series B Convertible Preferred Stock is redeemable on January 5, 2018 if we have not consummated, or executed a definitive agreement to consummate, a qualified acquisition prior to that date. Accordingly, we formed the Finance Committee, comprised solely of independent directors, to explore potential financing and refinancing alternatives, including the potential restructuring or refinancing of the Series B Preferred Stock."

16:06 EDT Weatherford names Karl Blanchard as COO - Weatherford announced the appointment of Karl Blanchard as Executive Vice President and COO. In this role, he will oversee all region and product line operations; quality, health, safety, security and environment; sales; engineering, research and development; and supply chain. Most recently, Blanchard served as COO for Seventy Seven Energy, where he oversaw drilling, pressure-pumping and rental tool operations.

16:05 EDT Double Eagle Acquisition to acquire Williams Scotsman - Double Eagle Acquisition Corp. announced that it has entered into a definitive agreement with Algeco Scotsman Global S.a r.l. and Algeco Scotsman Holdings KFT, pursuant to which DEAC will combine with Williams Scotsman International, a specialty rental services company providing modular space and storage solutions across North America. The Algeco Holders will retain a 10% minority interest in Williams Scotsman through a wholly owned subsidiary of DEAC, which interest will be exchangeable for shares of New DEAC, subject to certain anti-dilution protection. Upon the closing of the transaction, DEAC will be renamed and will remain NASDAQ-listed under a new ticker symbol. Williams Scotsman serves over 25,000 customers every day with 76,000 units, representing over 34 million square feet and a gross book value of $1.2B. Williams Scotsman is expected to generate revenues of approximately $438M and adjusted EBITDA of $126M in 2017. TDR is not receiving any cash consideration as part of the transaction. Assuming no redemptions of DEAC public shares, the current shareholders of DEAC, TDR and the Algeco Holders will hold approximately 63%, 27% and 10% respectively, of the issued and outstanding shares of common stock of New DEAC immediately following the closing. The acquisition represents a total enterprise value of $1.1B, representing a purchase price multiple of 9.0x and 7.9x projected adjusted EBITDA for 2017 and 2018, respectively, before payment of transaction expenses. Gerry Holthaus, who was Chairman and CEO of Williams Scotsman during its previous period as a successful public company, has agreed to return as Chairman from parent Algeco Scotsman. The Williams Scotsman management team, led by CEO Brad Soultz and CFO Tim Boswell, will continue to manage the business.

16:04 EDT Great Point Partners reports 5.92% passive stake in Kura Oncology

16:01 EDT Double Eagle Acquisition to acquire Williams Scotsman for $1.1B

15:58 EDT Simon Property to pay $945,000 to settle anticompetitive claims - Attorney General Eric T. Schneiderman announced a settlement with Simon Property Group that prohibits Simon from using anticompetitive tactics to thwart the development of competing outlet centers in New York City. These restrictions have impeded new outlet centers from opening, harming retailers and consumers that would have benefited from outlet locations in New York City. Simon has agreed to immediately modify contractual restrictions that have prevented retailers at its flagship Woodbury Common center from opening outlet stores in New York City locations. Today's settlement will finally allow for the opening of outlet malls in Brooklyn, The Bronx, Queens and Staten Island, creating competitive choice for retailers and consumers while boosting the New York economy. The settlement announced by Attorney General Schneiderman has two main elements, in addition to a $945,000 monetary payment to New York State: 1. Ending exclusive agreements with retailers.Simon has agreed to revise existing leases to remove radius restrictions that would otherwise prevent outlet center development and 2. Prohibiting future interference with outlet retail. For the next 10 years, Simon has agreed to cease using radius restrictions, or other exclusionary tactics, that might deter retailers from opening additional outlet stores. Reference Link

14:49 EDT Dunkin' Donuts signs pact to establish 7 stores in Raleigh-Durham market - Dunkin' Donuts announced the signing of a multi-unit store development agreement to establish seven Dunkin' Donuts restaurants in the Raleigh-Durham market with existing franchisee Coastal Franchising, Inc. The group's first restaurant under this agreement is planned to open in 2018. Coastal Franchising, Inc., which is led by George Ross, currently owns 39 locations throughout the Carolinas, including four Dunkin' Donuts restaurants and one Dunkin' Donuts and Baskin Robbins multi-brand restaurant within Raleigh-Durham. With this seven-unit expansion, Coastal Franchising, Inc. will more than double its footprint in the Raleigh-Durham, Chapel Hill and I-85 corridor markets in North Carolina.

14:42 EDT Ackman accuses ADP board of 'insularity and lack of shareholder perspective' - Pershing Square Capital Management issued a statement regarding ADP, stating in part: "Last Thursday, August 17th, Pershing Square presented a 210-minute, 167-slide webcast entitled, 'ADP: The Time is Now,' in which we detailed weaknesses in ADP's product and service offerings, deficiencies in the company's productivity and operating margins versus its direct competitors, and outlined a plan to address these shortcomings and to maximize value for all stakeholders. Without responding to any of these issues, ADP issued a press release just two hours after the presentation concluded stating that the presentation contained, 'nothing that has not previously been analyzed by the Board and management.' If, in fact, ADP's Board and management were fully aware of the company's dramatic underperformance versus its competitors and its potential, why have they not explained how they will address these concerns?" Bill Ackman, CEO of Pershing Square, added: "The fact that the Board believes that the company's largest owner with an 8.3% stake does not deserve even one Board seat speaks to their insularity and lack of shareholder perspective. By contrast, the cumulative ownership of the Board including the company's CEO is less than 0.09% of shares outstanding."

14:23 EDT Amplify Snack Brands pops after peer Back to Nature acquired - Shares of better-for-you snack maker Amplify Snack Brands (BETR) are moving up after food conglomerate B&G Foods (BGS) agreed to buy healthy food maker, Back to Nature, from a joint venture between Mondelez International (MDLZ) and private-equity firm Brynwood PartnersSnack for $162.5M. Back to Nature Foods also offers the SnackWell's brand of low-fat and no-fat snacks. "We are very pleased to add Back to Nature to the B&G Foods family of brands. Consistent with our acquisition strategy and our recent Green Giant, spices & seasonings and Victoria acquisitions, we are continuing to diversify our portfolio of brands and invest in brands and products that we believe are most relevant to today's consumer," stated Robert Cantwell, President and Chief Executive Officer of B&G Foods. AMPLIFY: SkinnyPop maker Amplify came public two years ago to an inauspicious start, closing well under its high that day. Amplify hit a historic high in 2016, trading up to $17.53 per share on September 2 of that year, when it announced the completion of its acquisition of Tyrells. England-based Tyrrell added a premium brand better- for-you chip maker to its brands. Since then, due to a series of earnings disappointments and missteps, the company has traded to a low of $6.40 per share this past Friday, August 18, after noting European headwinds and softness in U.S. food in its most recent quarterly report. The company also revised its 2017 financial expectations to levels significantly short of expectations. PRICE ACTION: Shares of Amplify are up almost 2%, outpacing a flat broader market in afternoon trading.

14:08 EDT Tenet Healthcare rises after another activist discloses stake - Shares of Tenet Healthcare (THC) are on the rise after it was disclosed that another activist has taken a stake in the hospital operator. On Friday, the hospital chain had announced that its largest shareholder, Glenview Capital Management, had given up two board seats, setting up a fight for control of the board and the company. NEW ACTIVIST INVOLVED: Earlier today, it was announced in a 13G filing that hedge fund Camber Capital had purchased 5.7M shares, or a 5.7% stake, in the hospital chain. This comes only days after representatives of Glenview Capital Management, who owns an 18% stake in Tenet, resigned two board seats. In a regulatory filing on Friday, the company said Randy Simpson and Matt Ripperger had resigned from the board "due to irreconcilable differences regarding significant matters impacting Tenet and its stakeholders." Simpson and Ripperger further said they had decided "the most effective way forward to promote strong patient satisfaction and long-term value creation for Tenet is to step off this board." WHAT'S NOTABLE: In a research note to investors following Glenview's move, Leerink analyst Ana Gupte raised her price target for Tenet to $30 from $23 in anticipation of activist restructuring and said she sees further upside to as much as $50 as the process works itself through. The analyst noted that she believes the announcement by Glenview, in combination with the company's 8-K filing, is an indication that Glenview is moving to an aggressive activist role to unlock value. Gupte reiterated an Outperform rating on the shares. PRICE ACTION: In afternoon trading, shares of Tenet have jumped almost 15% to $16.61.

14:02 EDT Consumers Energy starts construction on Saginaw Trail Pipeline - Consumers Energy, the principal subsidiary of CMS Energy, has started construction on the Saginaw Trail Pipeline, a five-year, approximately $610M project in Saginaw, Genesee and Oakland counties to increase natural gas reliability and safety in Michigan. Crews of about 450 union skilled trades workers from Consumers Energy and construction contractor Welded Construction are removing 78 miles of 12- and 16-inch pipeline dating to the 1940s and installing a new 24-inch pipeline. The Saginaw Trail Pipeline work will take place in five phases, beginning this year with an 18.5-mile stretch of pipeline in southern Saginaw and northern Genesee counties. Construction started in June and is expected to finish in December 2022. When completed, the Saginaw Trail Pipeline will reach from Tittabawassee Township, in Saginaw County, to south of Milford in Oakland County. Work on each phase will finish prior to the winter heating season so customers will experience uninterrupted natural gas service. The pipeline travels primarily through rural agricultural areas. An existing pipeline in the urban areas west of Saginaw and east of Flint will be rerouted in 2018 and 2019. Ultimately, 94 miles of new pipe will be installed.

13:53 EDT Ensco's merger with Atwood Oceanics deemed flawed by Arrowgrass - Arrowgrass Capital Partners sent a letter and a slide presentation to the board of Ensco (ESV) and Ensco shareholders regarding Ensco's proposed merger with Atwood Oceanics (ATW), in response to Ensco's August 14 press release and presentation containing "An Overview of Strategic Rationale and Value." The letter states in part: "On August 14, 2017, Ensco issued a press release and presentation containing "An Overview of Strategic Rationale and Value" of the proposed Atwood transaction. Unfortunately, as the company continues to defend this misguided transaction, Ensco's share price continues to lag behind that of its peers, with the cumulative underperformance since the deal's announcement at ~16-27% (36% in absolute terms). Clearly shareholders do not see either the rationale or the value in this acquisition. At this time, we own 14.6 million Ensco shares and are among the largest shareholders of Ensco. After reading Ensco's new presentation, we are more confident than ever that this expensive, poorly timed, and risky transaction is the wrong path for Ensco. We urge shareholders to vote down this unquestionably value-destructive deal."

13:45 EDT Meditor Group reports 8.2% passive stake in Esperion

12:56 EDT Mesa Labs director Stuart Campbell sells 2,000 shares - Stuart Campbell, a director at Mesa Labs, disclosed in a recent filing that he had sold 2,000 shares of company stock at an average price of $130.42 per share on August 17 and August18 for a transaction value of $260,830.

12:46 EDT EnerJex Resources appoints Schleizer as interim CFO - Effective August 17, Robert Schleizer was appointed as interim CFO and principal accounting/financial officer of Enerjex Resources. He replaced Douglas Wright who resigned to pursue other business opportunities.

12:40 EDT Icahn Automotive announces growth plans in Detroit - Icahn Automotive Group, a subsidiary of Icahn Enterprises, announced several major investments in the Detroit metropolitan region. Most recently, the company announced the acquisitions of Precision Auto Care, Inc., with Precision Tune franchise locations in Royal Oak and Detroit, and Phil Cavill's Tire & Auto Service Center, a staple in the community of Clawson for 34 years. This 10-bay shop will be converted to a full-service Pep Boys Service & Tire Center. To meet the needs of both consumers and commercial customers, Pep Boys has extensively renovated its Detroit-area stores and dramatically expanded its parts and tire availability, adding more high-quality products to its local stores. Pep Boys, in conjunction with the company's Auto Plus wholesale parts distribution arm, carries a full line of premium parts, including Moog chassis and Wagner braking products, as well as an exclusive line of Champion wipers, lighting, filters, batteries and ignition products. In addition, the in-store Speed Shop in Pep Boys' Eastpointe location caters to the many automotive enthusiasts in the area and features a broad selection of high-performance and appearance products.

12:31 EDT Morningstar reports July U.S. mutual fund, ETF asset flows - Morningstar reported estimated U.S. mutual fund and exchange-traded fund asset flows for July 2017. In July, investors put $10.8B into U.S. equity passive funds, up from $9.3B in June 2017. On the active front, investors pulled $19.6B out of U.S. equity funds, compared with $14.6B in the previous month. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.

12:10 EDT Medtronic gets CE Mark for Quad MRI Surescan left heart lead - Medtronic announced it has received CE Mark for the Attain Stability Quad MRI SureScan left heart lead. Paired with Medtronic quadripolar cardiac resynchronization therapy-defibrillators and -pacemakers, the Attain Stability Quad lead features novel, active-fixation technology that is designed for precise lead placement and stability. In the United States, the Attain Stability Quad lead is under evaluation in a clinical trial and is not approved for sale.The company has undertaken a limited European launch, and first commercial implants recently were performed at Haukeland University Hospital, Bergen, Norway."This new lead provides another option for left ventricular lead placement that can meet the needs of patients with various anatomies," said Prof. Svein Faerestrand, Haukeland University Hospital. "We now have the ability to place the lead where we want within the vessel." Medtronic also has initiated a global, prospective, non-randomized, multicenter clinical study to evaluate the safety and effectiveness of the lead in heart failure patients. The study will enroll up to 471 patients across 56 sites in the United States, Canada, Europe, Hong Kong and Malaysia. The primary efficacy endpoint will evaluate the number of patients that have appropriate pacing capture thresholds in at least two programming configurations, and the primary safety endpoint is lead-related complication-free rate at six months. Co-principal investigators are Kevin Jackson, M.D., heart rhythm specialist at Duke Raleigh Hospital, and assistant professor of medicine at Duke University, and George Crossley, III, M.D., associate professor of medicine and electrophysiologist at Vanderbilt Heart and Vascular Institute. Toshimasa Okabe, M.D., recently performed the first implant in the clinical trial at Ross Heart Hospital of The Ohio State University Wexner Medical Center.

12:01 EDT Nordstrom names Kelley Hall Chief Accounting Officer - Nordstrom (JWN) announced that Kelley Hall has joined the company as senior vice president, chief accounting officer, beginning August 21. Hall most recently served as vice president and CFO for Nike's (NKE) Enterprise Operations, Nordstrom noted.

11:37 EDT ASL Strategic Value Fund calls on Community Health board to replace CEO - ASL Strategic Value Fund made public a letter it sent to the Board of Directors of Community Health Systems, in which it states in part: "ASL Strategic Value Fund has been a long-term investor in Community Health Systems. We have attempted on several occasions to contact management to voice our concerns about recent operating results. Unfortunately, none of our phone calls were returned. We now feel obligated to reach out directly to the Board of Directors due to this non-response...It is time for the Board to exercise its fiduciary duty to the shareholders and replace the current CEO. It should also act immediately to claw back significant portions of this past compensation from existing and retired executives...Additionally, there is a major disconnect between where the company's assets are being valued in the equity market and the value that competitors are currently willing to pay for these assets...It is time for the Board to take immediate action. Management's previous missteps have resulted in billions of dollars of shareholder losses, all the while reaping tens of millions of dollars in compensation. The Board has a fiduciary obligation to hold management accountable and to maximize the value for the shareholders of this company."

11:35 EDT Pinnacle West says Commissioner Burns files petition to vacate ACC's order - On August 18, the ACC issued a final written opinion and order reflecting its decision in APS's general retail rate case, which is subject to requests for rehearing and potential appeal. On August 20, Commissioner Burns informed the ACC and APS that he filed a special action petition in the Arizona Supreme Court seeking to vacate the ACC's order approving the settlement so that alleged issues of disqualification and bias on the part of the other commissioners can be fully investigated. The Arizona Supreme Court may accept or decline to hear the petition in its sole discretion. APS intends to oppose the petition but cannot predict the outcome of Commissioner Burns' request.

11:10 EDT Accelerate Diagnostics CEO trades 223K shares for shares of exchange fund - In a regulatory filing after the close on Friday, it was disclosed that Accelerate Diagnostics CEO Lawrence Mehren contributed 223,215 shares of the company's common stock to an exchange fund in exchange for shares of the exchange fund. The common stock was valued at $22.40 per share for the purposes of determining the number of shares of the exchange fund issuable, pursuant to a Rule 10b5-1 plan entered into by Mehren, the filing stated. Shares of Accelerate Diagnostics are down 45c, or about 2%, to $21.25 in Monday morning trading.

10:40 EDT Nike slides as Jefferies cuts rating on competition concerns - Shares of Nike (NKE) are slipping after Jefferies analyst Randal Konik downgraded the stock to Hold, citing increasing U.S. competition and its premium valuation. Meanwhile, UBS analyst Michael Binetti also downgraded two athletic goods retailers, namely Finish Line (FINL) and Foot Locker (FL). MOVING TO THE SIDELINES: In a research note this morning, Jefferies' Konik downgraded Nike to Hold from Buy and lowered his price target to $60 from $75 saying that while it remains a "top brand in a solid industry," his mosaic of five data sources suggests growth and margins are at risk ahead. Further, with expectations for less robust fundamentals, Nike's premium valuation conflicts with intensifying U.S. competition unfolding, he argued. The analyst pointed out that adidas' (ADDYY) success in reviving its brand appeal in North America has had a clear impact on Nike share as web traffic analysis indicates accelerating site visits for adidas and slippage for Nike. Additionally, Konik said that his store call survey indicates adidas mentions are rising and Nike falling, and adidas mentions increased on the Finish Line and Foot Locker calls. Near-term elevated SG&A spend is likely as Nike will require more marketing to defend its turf from adidas, he contended. FOOT LOCKER, FINISH LINE RATINGS ALSO CUT: Meanwhile, UBS' Binetti downgraded Foot Locker to Neutral from Buy and Finish Line to Sell from Neutral, saying second quarter results were worse than expected, making it tougher to support a thesis that athletic retailers will be able to sidestep emerging structural challenges. The analyst told investors that he thinks the brands' plan to push direct-to-consumer make it much harder to deliver their earnings per share commitments to shareholders, market share loss to Amazon (AMZN) is almost certain, and store closures need to accelerate. Further, Binetti noted that his analysis shows that Finish Line has among the highest geographic overlap with J.C. Penney (JCP) and Sears (SHLD) stores, which he sees as particularly challenged. The analyst lowered his price target for Foot Locker to $37 from $70, and Finish Line to $9 from $14. Foot Locker saw another downgraded this morning, as Baird analyst Jonathan Komp cut his rating to Neutral from Outperform based on lack of visibility, broadening category headwinds, negative operating leverage, oversaturation concerns, and economic headwinds. The analyst also lowered his price target on the shares to $37 from $65. PRICE ACTION: In morning trading, shares of Nike have dropped over 2.5% to $53.52, while Foot Locker's stock has slipped over 3% to $33.22. Shares of Finish Line have slid about 7.5% to $10.19.

09:32 EDT Hackett Group, ADP expand strategic alliance - The Hackett Group (HCKT) and ADP (ADP) have announced an expansion to their strategic alliance that will offer midsized companies new to ADP Workforce Now access to The Hackett Group's benchmarking tool, metrics, best practices, research and performance studies. These offerings are aimed at helping ADP Workforce Now users improve HCM performance and monitor the efficiency and effectiveness of their HR operations.

09:27 EDT Alexion receives new indication from European Commisssion for Soliris - Alexion Pharmaceuticals announced that the European Commission approved the extension of the indication for Soliris to include the treatment of refractory generalized myasthenia gravis in adults who are anti-acetylcholine receptor antibody-positive. Soliris is the first and only complement-based therapy approved in the European Union for this ultra-rare subset of patients. Patients with refractory gMG can have difficulties walking, talking, swallowing and breathing normally despite therapies currently used for MG. Exacerbations and crises of their disease may require hospitalization and intensive care and may be life-threatening. Soliris will be launched for this new indication initially in Germany, and Alexion is evaluating launches in additional EU countries. The EC based its approval of the extended indication for Soliris on comprehensive clinical data from the Phase 3 REGAIN study and its long-term open-label extension study. Alexion's supplemental Biologics License Application in the U.S. and a supplemental new drug application in Japan for Soliris as a treatment for patients with anti-AChR antibody-positive refractory gMG have been accepted for review by the U.S. Food and Drug Administration and the Japanese Ministry of Health, Labour and Welfare, respectively. Soliris has received Orphan Drug Designation for the treatment of patients with MG in the U.S. and EU, and for the treatment of patients with refractory gMG in Japan.

09:26 EDT VirnetX, HTC Corporation enter Patent Standstill Agreement - VirnetX announced it has entered into a Patent Standstill Agreement with HTC Corporation. The deal was facilitated by VirnetX's licensing partner, IPVALUE Management. "This is a significant development as we continue to grow our business outside the US," said Sameer Mathur, Vice President of Corporate Development and Product Marketing for VirnetX. "This standstill agreement gives both parties more time to discuss and negotiate a broad license, including a license to VirnetX's LTE-related patents."

09:14 EDT M&T Bank names Laura O'Hara as SVP, General Counsel, effective August 21 - M&T Bank (MTB) announced the appointment of Laura O'Hara as Senior Vice President and General Counsel, effective August 21. She will report to Richard Gold, M&T Vice Chairman, and will be based in Buffalo, N.Y. O'Hara joins M&T with more than 30 years of litigation, regulatory compliance and risk management experience, most recently for Santander Bank (SAN), where she served as Executive Vice President and General Counsel from 2015 to 2017.

09:09 EDT CytRx files preliminary proxy statement for upcoming special meeting - CytRx announced that it has filed a preliminary proxy statement with the SEC in connection with a planned special meeting of stockholders to authorize the Board of Directors to effect a reverse stock split of the Company's common stock, if deemed necessary. A reverse stock split may enable the Company to regain compliance with NASDAQ's $1.00 minimum bid price requirement and maintain its listing on the NASDAQ Capital Market. CytRx's intent is to continue to be listed on the NASDAQ Capital Market. In addition to sustaining a NASDAQ listing, the Company believes a higher share price resulting from a reverse stock split will help enlarge the shareholder base by expanding its appeal to institutional investors and as a result enhance long-term stockholder value. As described in the preliminary proxy materials, a special meeting of CytRx stockholders will be held to consider the reverse stock split proposal. The date of the special meeting will be announced in a definitive proxy statement to be mailed to stockholders and filed with the SEC. Stockholders are urged to read the definitive proxy statement when it becomes available, because it will contain important information about CytRx and the proposed split. Definitive proxy materials for the special meeting are expected to be mailed the week of September 5, 2017.

09:07 EDT Amgen to present new data on Repatha at ESC Congress 2017 - Amgen announced that new data from the Repatha clinical trial program, including three late-breaking scientific sessions, will be presented at the European Society of Cardiology Congress 2017 in Barcelona, Spain, Aug. 26-30, 2017. New data includes additional efficacy and safety analyses from the Repatha cardiovascular outcomes trial (FOURIER) and the Repatha coronary intravascular ultrasound imaging trial (GLAGOV). Data from the Repatha cardiovascular outcomes trial assessing the effect of Repatha on cardiovascular outcomes in patients with a history of stroke will be presented in a late-breaking science session along with a new analysis from the GLAGOV trial. A second analysis of the Repatha cardiovascular outcomes trial, assessing the efficacy and safety of achieving very low low-density lipoprotein cholesterol levels with Repatha, will be presented in the late-breaking Clinical Trial Update 1 session.

09:06 EDT Medovex names Jesse Crowne director and executive co-chairman - Medovex Corp. announced it has appointed Jesse Crowne as Director and Executive Co-Chairman of the Board. Crowne has been acting as a Vice President of Business Development for the company since January 2015. Crowne has been a Managing Partner at Gorlin Companies; a healthcare focused single family office specializing in founding and funding early ventures since July 2015. Crowne replaces Steve Gorlin who will remain with the company in a consultancy role.

09:04 EDT Medovex names Jesse Crown, director and executive co-chairman - Medovex Corp. announced it has appointed Jesse Crowne as Director and Executive Co-Chairman of the Board. Crowne has been acting as a Vice President of Business Development for the company since January 2015. Crowne has been a Managing Partner at Gorlin Companies; a healthcare focused single family office specializing in founding and funding early ventures since July 2015. Crowne replaces Steve Gorlin who will remain with the company in a consultancy role.

09:04 EDT Perrigo announces FDA approval, AstraZeneca settlement for OTC Nexium 24HR - Perrigo (PRGO) announced that it has received final approval from the U.S. Food & Drug Administration for the store brand OTC equivalent of Nexium 24HR capsules. The company also announced that it has reached a settlement of patent litigation with AstraZeneca (AZN) allowing for the store brand OTC equivalent of Nexium 24HR capsules to launch in late September 2017. This product will be packaged and marketed as store brand or retailer "own label" brand, Perrigo noted.

09:03 EDT Shire says CFO Jeff Pulton to leave at end of year to become Indigo Ag's CFO - Jeff Poulton, CFO, will be leaving Shire at the end of the year to serve as CFO at Indigo Ag, Inc., a start-up company based in Boston that uses the plant microbiome to improve the productivity and sustainability of agriculture. The Board will commence a formal search for a successor and Jeff will continue to serve in his current role as this search progresses. During this transition period, Jeff will remain on the Executive Committee and on the Board of Directors of Shire plc. Jeff will also continue to support the company's on-going strategic review of its business.

09:02 EDT Johnson Controls names George Oliver as CEO, effective September 1 - Johnson Controls announced effective Sept. 1, George Oliver, currently president and COO, will assume the role of Chairman and CEO. This action accelerates the move of Oliver to his new position six months earlier than previously announced. The acceleration was unanimously approved by the company's board of directors. Molinaroli, currently chairman and CEO, will leave the company and the board effective Sept. 1. In addition, the company announced that Jurgen Tinggren, chair of the audit committee and a member of the executive committee, has been appointed lead independent director of the Johnson Controls board of directors, effectively immediately. Separately, the company announced that Jeffrey Joerres has stepped down from the board of directors.

09:01 EDT Parexel, Osaka International Cancer Institute partner for clinical research - PAREXEL and Osaka International Cancer Institute announced that they have formed an alliance to advance clinical development in Japan. The partnership will aim to drive greater efficiencies in support of patient recruitment for clinical trials in oncology and hematology, accelerating the development of innovative and effective new cancer treatments for patients.

08:52 EDT Diana Containerships reports reactivation, time charter contract with OOCL - Diana Containerships announced that it plans to reactivate one of its Panamax container vessels, the m/v Pamina. The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Orient Overseas Container Line Ltd., Hong Kong, for the m/v Pamina. The gross charter rate is $9,500 per day, minus a 3.75% commission paid to third parties, for a period of minimum seven months to maximum twelve months. The charter will commence on September 13. The "Pamina" is a 5,042 TEU container vessel built in 2005. This employment is anticipated to generate approximately $2M of gross revenue for the minimum scheduled period of the time charter.

08:39 EDT eBay announces regional leadership changes, departure of Hal Lawton - eBay announces that it has appointed Scott Cutler, Jay Lee and Jooman Park to new regional leadership roles. Cutler has been promoted to Senior Vice President, Americas, for eBay's Marketplace business and will continue to serve as head of StubHub while the company searches for a new leader. Lee has been appointed Senior Vice President, EMEA, and Park has been promoted to Senior Vice President, APAC, for eBay's Marketplace business. Hal Lawton, who has been with eBay since 2015, is leaving the company to take on a senior leadership role at another company, eBay reported.

08:31 EDT Champions Oncology announces strategic collaboration with AstraZeneca - Champions Oncology (CSBR) announced a strategic collaboration with AstraZeneca (AZN) to develop novel cohorts of PDX models. These models will be used in AstraZeneca's oncology R&D programs in breast and lung cancer, in addition to being added to Champions' existing TumorGraft bank for translational oncology research for academic and industry customers. Champions' global network of collaborating sites will be leveraged to support this multi-year initiative. These novel models will expand Champions' bank of estrogen-receptor-positive metastatic breast cancer and epidermal growth factor receptor mutant non-small cell lung cancer PDX models. Both cohorts will focus on the metastatic, previously treated setting and will enable a better understanding of mechanisms of resistance, providing a critical platform to optimize drug development in these settings. Full clinical and molecular annotation will be available to enable model selection for testing innovative therapies, investigating new and existing pathways, and identification of biomarkers.

08:22 EDT Electronic Arts, NFL launch first Madden NFL Club championship - Electronic Arts and the National Football League announced the launch of the Madden NFL Club Championship, a landmark competitive gaming and esports event within the Madden NFL Championship Series, involving all 32 NFL Clubs. With involvement from every club across the League, this is the largest competitive gaming commitment ever by a U.S. professional sports league, and competition begins in less than 24 hours with the launch of EA SPORTS Madden NFL 18 G.O.A.T Edition for Xbox One, the all in one videogame and entertainment system from Microsoft, and the PlayStation4 computer entertainment system on August 22nd. Millions can compete in pursuit of winning the Madden NFL Club Championship for their favorite NFL team. Players will qualify first through online competition with high-performers advancing to tournaments at select NFL stadiums, popular cultural landmarks and more. Once the final 32 players are identified, one per NFL team, they will compete in the Madden NFL Club Championship Live Finals, a tournament occurring first at the Pro Bowl Experience in Orlando, FL and culminating at the Super Bowl Experience Driven by GMC in Minneapolis, MN with the winner receiving a cash prize and two tickets to Super Bowl LII. The Madden NFL Club Championship is one of three currently announced Madden NFL Championship Series EA Majors, the other two are the Madden NFL Classic on October 20-21 and the Madden NFL Challenge on December 15-16. EA Majors are the pinnacles of the Madden NFL Championship Series with only the top players qualifying. The Madden NFL Championship Series purse is $1.15M for the season.

08:10 EDT Ovid Therapeutics says first patient randomized in Phase 1b/2a trial - Ovid Therapeutics (OVID) announced it has randomized the first patient in its Phase 1b/2a clinical trial of TAK-935, also known as OV935, in collaboration with Takeda (TKPYY). This marks the second program Ovid has advanced into Phase 2 clinical development this year. Takeda and Ovid formed a global collaboration focused on the clinical development and commercialization of TAK-935/OV935, a potent and highly selective cholesterol 24-hydroxylase inhibitor, being investigated in adults with developmental and/or epileptic encephalopathies in January 2017. Data from the Phase 1b/2a trial in adults with developmental and/or epileptic encephalopathies, which are types of rare epilepsies that share similar clinical manifestations, is anticipated in 2018. As part of the broader development program, Ovid and Takeda also plan to study the role of 24-S-hydroxycholesterol as a peripheral biomarker that can inform future clinical trial designs and help clinicians individualize the use of this therapy. TAK-935/OV935 has the potential to become a first-in-class CH24H inhibitor and is believed to modulate the N-Methyl-D-Aspartate receptor, which has been implicated in several neurologic disorders, including rare epilepsies. TAK-935/OV935 has been tested in four Phase 1 clinical trials involving 86 healthy volunteers and has been found to be well tolerated without clinically significant safety findings. Data from multiple preclinical models indicate that TAK-935/OV935 may affect both seizure intensity and frequency.

08:09 EDT Natera launches Signatera - Natera announced the launch of Signatera, a circulating tumor DNA technology that analyzes and tracks mutations specific to an individual's tumor, for research use only by oncology researchers and biopharmaceutical companies. Already in clinical validation with multiple world-leading cancer institutes, Signatera offers a novel personalized approach to cancer detection in plasma. The technology analyzes whole-exome sequencing data from a patient's tumor sample in order to custom design individual-specific assays, targeting 16 or more mutations known to be present in the tumor tissue. This unique approach enables high sensitivity and specificity for ctDNA detection and monitoring.

08:08 EDT Herbalife up 7% after announcing prior talks to go private have ended

08:07 EDT Uranium Resources changes name to Westwater Resources, names chairman - Westwater Resources (WWR), formerly Uranium Resources (URRE) announced that it has changed its name to Westwater Resources, Inc. to reflect its growing energy metals business. The name change is effective August 21 and Westwater Resources' common stock will begin trading on Nasdaq under the new ticker symbol "WWR" at the opening bell on Monday August 21. Westwater Resources, Inc. is also pleased to announce that its Board of Directors has unanimously appointed Terence J. Cryan to the Board and elected him as Chairman. Cryan re-joins the company's Board having previously served as a Director between October 2006 and March 2016 and as Chairman from June 2014 through March 2016.

08:06 EDT Icahn agrees to not raise Herbalife stake above 50% for two year after tender

08:05 EDT Immunomedics reports 'encouraging' Phase 2 results of IMMU-130 - Immunomedics announced that labetuzumab govitecan, or IMMU-130, the second agent from its first-in-class antibody-drug conjugate program, produced encouraging survival results in a multicenter, open-label Phase 2 study in heavily-pretreated patients with metastatic colorectal cancer. The goals of the expanded Phase 2 study with labetuzumab govitecan were to evaluate dosing schedules, safety and any evidence of efficacy. A total of 86 patients with progressive disease who had received prior therapy with an irinotecan-containing regimen, half of whom had completed 5 prior lines of therapy, were enrolled to receive labetuzumab govitecan either once-weekly at 8 and 10 mg/kg, or twice-weekly at 4 and 6 mg/kg, on weeks 1 and 2 of 3-week repeated cycles. The two once-a-week dose schedules, showing comparable toxicity and efficacy, were chosen for further study. "As a single agent, IMMU-130 has demonstrated promising efficacy in late-stage mCRC and warrants further study," remarked Jordan D. Berlin, MD, Professor of Medicine, Co-Leader of the Gastrointestinal Cancer Research Program and Director of Phase I Research at the Vanderbilt-Ingram Cancer Center, Nashville, TN, and the senior author of the article published online in the Journal of Clinical Oncology. "I believe it has potential to be studied in a combination therapy in a frontline setting."

08:04 EDT Herbalife announces tender to buy back up to $600M shares

08:03 EDT Herbalife says was in talks to potentially go private, talks have ended

08:03 EDT LabCorp, OmniSeq sign distribution agreement, Series B funding commitment - OmniSeq said it has entered into an exclusive distribution agreement with LabCorp for the distribution of its Immune Report Card SM and OmniSeq Comprehensive clinical assays. The tests, performed by OmniSeq, will be exclusively offered by LabCorp to U.S.-based physicians through Integrated Oncology, a member of the LabCorp Specialty Testing Group, and globally to biopharmaceutical customers through Covance Drug Development. Both assays have received approval from New York State's Clinical Laboratory Evaluation Program. In addition, OmniSeq announced that Marcia Eisenberg, Ph.D., chief scientific officer of LabCorp Diagnostics, will join OmniSeq's board of directors, and that LabCorp will participate in OmniSeq's Series B financing round. The financing will be used to conduct ongoing retrospective and prospective clinical trials and to generate further evidence of the clinical utility of OmniSeq's comprehensive genomic and immune profiling services.

08:02 EDT TriState Capital names David Demas CFO - TriState Capital announced that David Demas has joined the company as EVP of finance and, upon the completion of a four-month transition period, will succeed Mark Sullivan as CFO on January 1, 2018. Sullivan will continue serving as vice chairman and a director of the company after transitioning out of the CFO role. Demas joins TriState Capital from Deloitte & Touche, San Francisco office, where he was a senior partner in the financial services practice.

07:51 EDT Nevsun Resources names Ryan MacWilliam as CFO, effective August 28 - Nevsun Resources announced that it has appointed Ryan MacWilliam as its CFO. The appointment is effective August 28. Prior to Nevsun, MacWilliam worked for London-based X2 Resources where he was a director at the private equity fund focused on base metals and other mined commodities.

07:36 EDT Francesca's: Comp sales have further decelerated from July

07:34 EDT Ebix announces agreement to acquire YouFirst Money's MTSS business - Ebix announced that it has entered into an agreement to acquire Money Transfer Service Scheme Business of YouFirst Money Express Private Limited. This is Ebix's second acquisition over the last few days, following the announcement of the acquisition of MTSS assets of Wall Street Finance Limited on August 17. Ebix intends to consolidate both these acquisitions into its Financial Exchange operations bringing significant synergies and reducing redundancies to the combined operation. The acquisition is expected to be accretive to Ebix earnings immediately. The company funded the transaction using its internal cash reserves.

07:32 EDT Invacare appoints Barbara Bodem to board of directors - Invacare (IVC) announced the appointment of Barbara Bodem to its Board of Directors, effective August 18. Bodem has served as SVP of finance for Mallinckrodt (MNK), a global specialty pharmaceutical company, since October 2015. Her appointment brings the number of Invacare directors to a total of eight, seven of whom are considered independent directors.

07:31 EDT Cutera names Michael Karavitis as CTO, Michael Palumbo as VP, Global Services - Cutera announced the appointment of Michael Karavitis, Ph.D., as EVP, Chief Technology Officer, and Michael Palumbo as VP, Global Services. Both appointments are effective August 21, and each executive will report to James Reinstein, Cutera's President and CEO. Karavitis returns to Cutera, having previously served as the company's Vice President of Research and Development from 2012 to 2015.

07:16 EDT EdR wins right to negotiate terms of student housing development with Univ of SC - EdR announced that the University of South Carolina awarded the company the right to negotiate on a proposed 3,750 bed on-campus student housing complex that is planned to be delivered in multiple phases from 2020 through 2024. EdR would receive fees for providing third-party development and construction oversight services for the development. Campus Village, the multi-phased development, was approved by the University of South Carolina Board of Trustees at its last meeting on August 18. The development is still pending further state approvals. The facility is targeted to deliver the first 1,882 beds in Fall 2020 but is subject to final negotiation of definitive agreements with the university.

07:08 EDT Akari Therapeutics names David Horn Solomon as CEO, effective Aug. 28 - Akari Therapeutics announced that David Horn Solomon will be appointed as the company's new CEO, effective August 28.

07:03 EDT Brown & Brown announces asset acquisition of herronpalmer - J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, and Felicia Palmer and Tony Herron, the founders of herronpalmer, announced that Pacific Resources Benefit Advisors, LLC, a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of herronpalmer.

07:02 EDT BeyondSpring says patient enrollment continuing in Phase 3 '103' trial - "During the second quarter of 2017, we continued to advance our registrational clinical trials for our lead asset, Plinabulin, a first in class immuno-oncology agent. In our chemotherapy-induced neutropenia program, we are pleased to have enrolled the first U.S. patient in our Phase 2/3 "105" study, and received U.S. FDA approval to initiate the Phase 2/3 "106" study," said Dr. Lan Huang, Co-Founder, Chairman and CEO of BeyondSpring. "We recently received China FDA's approval of our Clinical Trial Applications to initiate the "105" and "106" studies in China. These approvals came just one month and five months after we submitted the respective CTAs for review by the CFDA, which is significantly shorter than the review period many western pharmaceutical companies are experiencing from the agency. We believe that these approvals underscore BeyondSpring's ability to effectively and quickly navigate the Chinese regulatory requirements, thereby reducing our time to initiate our clinical trials."Dr. Huang concluded, "Patient enrollment is continuing in our Phase 3 "103" trial, which is studying Plinabulin's effect on overall survival in Non-Small Cell Lung Cancer patients who have targeted measurable lesions. We believe that BeyondSpring is well positioned to advance this study, with quality data generated from the large cancer population in China, supporting a slower rate of enrollment occurring in many markets, including the United States. These markets are being impacted by increased competition for patients and low patient participation in clinical trials, particularly for novel oncology agents. We expect interim Phase 3 data from the "103" study during 2018."

07:01 EDT RADA Electronic raises $10M from Israeli institutional investors - RADA Electronic Industries announced that it has received and accepted purchase offers from several Israeli institutional investors to purchase 4,604,500 ordinary shares for $2.15 per ordinary share, or approximately $10M in the aggregate. Among these investors are Yelin-Lapidot Investment House, More Investment House, Noked Capital, and The Phoenix Insurance Company.

06:50 EDT Hill International announces profit improvement plan, backs FY17 guidance - Hill International announced that the company and its Board of Directors have undertaken several initiatives to improve performance. With the assistance of outside consultants, Alvarez & Marsal, the company is taking steps to reduce its cost structure and identify and implement revenue enhancements. The company identified estimated annualized pre-tax savings ranging from $27M-$38M. The company expects the actions necessary to obtain these savings will be substantially completed by June 30, 2018. The Company began reductions in mid-May 2017 following the sale of the Company's Construction Claims Group. At this point, the Company has reduced its back office workforce by more than 70 employees, incurring pre-tax restructuring and other charges of approximately $1.2M for employee termination benefits and related costs as well as $1.4M in other pre-tax restructuring charges. As a result of the reductions which have already been implemented, the partial year savings through December 31, 2017 will be approximately $3.5M (excluding restructuring related costs), with expected annual net savings of approximately $8M in 2018 and beyond. The Company expects to incur additional future charges of approximately $6M, primarily representing costs relating to additional employee related terminations, facilities closures, consolidations and relocations, and vendor rationalization. The Company's total backlog at June 30, 2017 was $895M, up 1.3% from $883M at March 31, 2017. Twelve-month backlog at June 30, 2017 was $320 million, down 1.2% from $324 million at March 31, 2017. Our net bookings during the second quarter of 2017 of $113M equates to a book-to-bill ratio of 112%. Our net bookings during the first half of 2017 of $261M equates to a book-to-bill ratio of 133%. Based on current market conditions and the backlog amounts described above, the Company reiterates its previously issued guidance that consulting fee revenue in 2017 will be between $400M and $425M. This guidance reflects an approximate 2% to 8% decrease in consulting fee revenue for the year compared to 2016.

06:41 EDT Nidec to acquire SV Probe Pte. Ltd. for $65M in cash - Nidec announced that the company has agreed to acquire 100% equity shares of SV Probe Pte. Ltd., a probe card manufacturer from Singapore-based Ellipsiz Ltd. through the company's subsidiary, Nidec-Read Corporation. The purchase price is $65M and the consideration will be all cash.

06:32 EDT Avista Healthcare Public Acquisition Corp. to combine with Envigo International - Avista Healthcare Public Acquisition Corp. and Envigo International Holdings jointly announced that they have entered into a definitive merger agreement. Under the terms of the agreement, Envigo will become a wholly-owned subsidiary of AHPAC, which will be re-named Envigo International Holdings and is expected to be listed on the NASDAQ stock exchange as of closing of the proposed transaction. The combined company will have an anticipated initial enterprise value of approximately $924M, or 10.6x Envigo's estimated Calendar Year 2018 Pro Forma Adjusted EBITDA. Dr. Adrian Hardy, the current President and CEO of Envigo, will continue in that role to lead the new company and will also serve on the board of directors. The board will also include at least two representatives of Avista Acquisition Corp., AHPAC's sponsor, as well as certain members of the current Envigo board. The proposed common stock ownership of Envigo includes the investors in AHPAC's initial public offering (48%), the existing equity owners of Envigo (46%), and AHPAC Founders (6%). The boards of directors of AHPAC and the Company have unanimously approved the proposed transaction and a majority of the stockholders of the Company have consented to the proposed transaction. Completion of the proposed transaction, which is expected before the end of the year, is subject to customary and other closing conditions, including regulatory approvals and receipt of approvals from AHPAC's shareholders.

06:19 EDT David Tenney says has left Citi after four years - David Tenney, formerly Citi's co-head of Investor Sales Services for the Americas, left the bank in July after four years at the firm, Tenney wrote in a post on LinkedIn. Reference Link

06:05 EDT Kosmos announces admission to trading on London Stock Exchange - Kosmos Energy is pleased to announce that its entire issued and outstanding share capital has been admitted to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities under the ticker "KOS".

06:01 EDT ADP board rejects Pershing Square nominees for 2017 annual meeting - ADP announced that ADP's Board of Directors, following the recommendation of the ADP Board's Nominating/Corporate Governance Committee, voted unanimously not to nominate any of Pershing Square Capital Management's three candidates for election to the Board at ADP's 2017 Annual Meeting of Stockholders. ADP plans to file its Preliminary Proxy statement with the SEC this week. After following established procedures to complete a thorough review of Pershing Square's nominees, including conducting individual interviews with each candidate, the Nominating/Corporate Governance Committee determined that none of the Pershing Square nominees bring additive skills or experience to ADP's Board. As a result, ADP's Board plans to nominate its 10 existing directors for re-election at the 2017 Annual Meeting: Peter Bisson, Richard T. Clark, Eric C. Fast, Linda R. Gooden, Michael P. Gregoire, R. Glenn Hubbard, John P. Jones, William J. Ready, Carlos Rodriguez, and Sandra S. Wijnberg.

05:47 EDT Fiat Chrysler says has not been approached by Great Wall Motors regarding Jeep - In response to market rumors regarding a potential interest of Great Wall Motors in the Jeep brand, Fiat Chrysler Automobiles confirmed that it has not been approached by Great Wall Motors in connection with the Jeep brand or any other matter relating to its business. FCA is fully committed to its 2014-18 plan, having achieved each one of its targets to date and with only 6 quarters left to its completion.

05:39 EDT Masimo reports results from published study evaluating Masimo PVi - Masimo announced the findings of a recently published study in which researchers at Firat University in Turkey evaluated the performance of Masimo PVi, a noninvasive and continuous measurement of the dynamic changes in perfusion index that occur during respiratory cycles, as the basis of a goal-directed fluid therapy protocol during laparoscopic bariatric surgery on mechanically-ventilated patients. In the study, Dr. Demirel and colleagues sought to evaluate whether using GDFT guided by PVi on morbidly obese patients undergoing laparoscopic Roux-en-Y gastric bypass surgery might result in less intravenous fluid use without compromising outcomes. They enrolled 60 patients and divided them randomly into control and GDFT groups. The control group's fluid levels were managed by standard fluid therapy, using mean arterial pressure and central venous pressure measured via a central venous access catheter as indicators of fluid responsiveness. The GDFT group's fluid status was monitored using a GDFT protocol based on PVi as a noninvasive, dynamic indicator of fluid responsiveness. Both groups were initially administered 500 mL bolus colloid fluid at the beginning of surgery, followed by a continuous infusion of crystalloid fluid (4-8 mL/kg/h in the control group, or 2 mL/kg/h in the GDFT group per the protocol). In the control group, if CVP was less than 6 mmHg or MAP less than 65 mmHg, a 250 mL additional bolus of colloid fluid was administered. In the GDFT group, if PVi was greater than 14% for five minutes, the 250 mL colloid bolus was administered. The researchers found that there was a significantly higher mean volume of crystalloid fluid administered in the control group (1499 mL +/- 516.87 mL) compared to the GDFT group (1126 mL +/- 234.98 mL) (p = 0.001). There were no significant differences in blood lactate levels (p greater than 0.05) or creatinine levels before and after surgery (p greater than 0.05) between the two groups. The researchers concluded that, "Utilization of GDFT protocols based on PVi may prevent excessive intraoperative infusion of fluids in laparoscopic bariatric surgery. This method when intending to prevent intraoperative excessive fluid loading in RYGB surgery appears to have no effect on either renal functions or lactate levels. While this study shows the adequacy of PVi for fluid therapy in mechanically ventilated patients undergoing bariatric surgery, further research is warranted to assess adequacy of optimization of PVi."