Stockwinners Market Radar for August 28, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:54 EDT American Homes 4 Rent provides Hurricane Harvey update - American Homes 4 Rent provided an update to the storm related damage and flooding in the aftermath of Hurricane Harvey. "As storms continue in Houston and other areas in southern Texas, the primary concern of American Homes 4 Rent is the safety and welfare of our residents and employees," stated David Singelyn, American Homes 4 Rent's CEO. "Our response teams are currently assessing the extent of damage but are hindered by continuing storms and difficulty getting into the affected areas. Our assessment will be ongoing for several days." The Company owns approximately 3,200 houses in the Houston market area. The Company's property and casualty insurance policies cover flood damage and business interruption costs, subject to deductibles and limits.

17:28 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Catalent (CTLT), up 12.8%. ALSO HIGHER: Enteromedics (ETRM), up 8.3% after the company said that a study concludes that vagal nerve blocking with its vBloc therapy is cost-effective... Babcock & Wilcox (BW), up 7.1% after Vintage Capital reported a 9.99% passive stake in the company. DOWN AFTER EARNINGS: Prospect Capital (PSEC), down 3.4%. ALSO LOWER: Finish Line (FINL), down 22.7% after the shoe retailer reported downbeat preliminary second quarter results and cut its outlook for fiscal 2018... Avexis (AVXS), down 3% after the stock was initiated with a Reduce rating at Nomura Instinet... Foot Locker (FL) and Under Armour (UA), down 2.7% and 1.4%, respectively, after Finish Line's pre-announcement missed expectations.

17:20 EDT McCann World Group awarded $524.1M government contract modification - McCann World Group, New York, New York, has been awarded a $524,100,000 modification to contract W9124D-11-D-0036 to extend the performance period for services in support of the Army Marketing and Advertising Program. Work locations and funding will be determined with each order, with an estimated completion date of Sept. 28, 2018. U.S. Army Contracting Command, Fort Sam Houston, Texas, is the contracting activity.

17:06 EDT Baytex Energy temporarily shuts in Eagle Ford production due to Hurricane Harvey - "Baytex Energy announces that due to Hurricane Harvey, on August 25, our Eagle Ford operations were shut-in and drilling and completion operations were suspended. This decision was driven by a number of factors including the safety of operating personnel and the availability of downstream markets. Our Houston office was also evacuated. As of August 28, field operations are being inspected and drilling and completion operations are expected to resume this week. There is currently a limited ability to produce as downstream markets are closed or significantly curtailed. The safe start-up of field operations has begun and will be balanced with market access. We expect to increase production throughout the week."

17:01 EDT Baytex Energy temporarily shuts In Eagle Ford production due to Hurricane Harvey - "Baytex Energy announces that due to Hurricane Harvey, on August 25, our Eagle Ford operations were shut-in and drilling and completion operations were suspended. This decision was driven by a number of factors including the safety of operating personnel and the availability of downstream markets. Our Houston office was also evacuated. As of August 28, field operations are being inspected and drilling and completion operations are expected to resume this week. There is currently a limited ability to produce as downstream markets are closed or significantly curtailed. The safe start-up of field operations has begun and will be balanced with market access. We expect to increase production throughout the week."

17:00 EDT Finish Line trading resumes

16:44 EDT InVivo to focus on INSPIRE study, suspends two research programs - InVivo announced that it is executing a strategic restructuring in order to focus on the INSPIRE study. The strategic restructuring will allow the company to concentrate its efforts on reopening patient enrollment for INSPIRE, completing INSPIRE, and filing a humanitarian device exemption submission for the neuro-spinal scaffold. The INSPIRE Study is designed to demonstrate the safety and probable benefit of the neuro-spinal scaffold in patients with complete thoracic spinal cord injury, and currently has 16 patients in follow-up. As part of the decision to focus exclusively on INSPIRE, the company also has announced the suspension of its chronic SCI stem cell and gene therapy research programs and a halt in enrollment into its Canadian cervical study of the neuro-spinal scaffold. The company is evaluating strategic options for allowing the cell and gene therapy programs to move forward outside of the company and plans to restart the cervical study once the FDA approves a protocol that allows for enrollment in the United States. In conjunction with the corporate restructuring, the company is undergoing a reduction in force, or RIF, in which it is eliminating 13 positions, or approximately 39% of its workforce. The RIF, the recent update to the INSPIRE timeline, the suspension of the chronic SCI programs, and the halt to the cervical study together are projected to result in 2018 operating expense savings of approximately $7.3M and to reduce 2018 cash burn from approximately $2.0M per month to approximately $1.5M per month.

16:38 EDT Herbalife announces waiver, amendment of condition to tender offer for shares - Herbalife announced that it has waived the share price condition related to its previously announced cash tender offer for its common shares, par value $0.001 per share, for an aggregate cash purchase price of up to $600M and at a per share price not less than $60 nor greater than $68, the exact price to be determined through a "modified Dutch auction," and a certain contractual contingent value right. Herbalife's tender offer is subject to several conditions, including that the reported closing price for shares during the tender offer not increase or decrease by more than 10% from $61.95, the reported closing price on August 18, the last full trading day before the tender offer was commenced. On August 22, Herbalife's shares closed at $69.36, thereby triggering the share price condition. Consequently, Herbalife is amending its tender offer by waiving and amending the share price condition. As amended, the tender offer is conditioned on the reported closing market price of shares on any trading day during the tender offer not falling more than 5% below or reaching more than 5% above the low and high price per share offered in the tender offer, respectively. Specifically, if the reported closing market price of the shares on any trading day during the tender offer is less than $57 or more than $71.40, the Company will have the right, but not the obligation, to terminate the tender offer without accepting shares for purchase. All other terms and conditions of the tender offer remain unchanged including grant of the non-transferable contractual contingent value right for each share tendered, allowing participants to receive a contingent cash payment should Herbalife be acquired in a going-private transaction within two years of the commencement of the tender offer. The amendment and revised share price condition are discussed in the Schedule TO amendment Herbalife is filing today with the Securities and and Exchange Commission.

16:36 EDT Settlement announced in suit challenging nuclear fuel storage at San Onofre - The parties in a lawsuit challenging the permit which allows for temporary storage of used nuclear fuel at the San Onofre nuclear plant have settled the case and will not proceed to hearing on Sept. 8, as scheduled. In a filing with a San Diego Superior Court judge, the parties acknowledge a shared interest in relocating San Onofre's used nuclear fuel to an off-site facility. The parties to the settlement are Southern California Edison, majority owner of San Onofre, and plaintiffs, Citizens Oversight, Inc. and Patricia Borchmann, represented by attorneys Michael Aguirre and Maria Severson. The California Coastal Commission, which issued the permit in 2015 authorizing expansion of on-site storage of used nuclear fuel, is the defendant in the suit. The settlement agreement details multiple steps SCE will take in support of its efforts to move San Onofre's used nuclear to an off-site location. In light of SCE's commitments, plaintiffs have requested a dismissal of the lawsuit. Here is a summary of the settlement. "A cooperative effort between the public, independent experts and Southern California Edison has begun and will continue until the nuclear waste is removed from San Diego," said Aguirre. "We are thankful SCE worked hard to reach this common goal," added Severson. Southern California Edison is an Edison International company.

16:31 EDT Western Digital acquires Upthere, terms not disclosed - Western Digital and Upthere announced that Western Digital has completed the asset acquisition of Upthere, a cloud services company that is providing a new and better way to keep, find and share what's important and meaningful to consumers. Financial terms of the transaction were not disclosed.

16:25 EDT JM Global trading halted, news pending

16:19 EDT D.E. Shaw reports 5% passive stake in Liberty Media

16:18 EDT Finish Line trading halted, news pending

16:11 EDT Vintage Capital reports 9.99% passive stake in Babcock & Wilcox

16:10 EDT CTG announces new board compensation program to further align with shareholders - CTG announced that the Board of Directors has completed a comprehensive review of its director compensation and has taken action designed to enhance shareholder value. The revised director compensation program focuses on further alignment between directors and shareholders. Under the new compensation program, director Board fees in 2018 will be paid exclusively in deferred stock units. Furthermore, shares will only vest upon a director's retirement from the Board. Under the current director compensation program, each member of the Board makes an annual irrevocable election to invest approximately half of their annual Board fees in CTG stock units, which vest upon a director's retirement from the Board. Due to tax regulations regarding deferred compensation, this previous irrevocable election must continue to apply to the remaining quarterly installment of Board fees payable to directors in the 2017 fourth quarter. The transition to all deferred stock units for Board fees will be fully implemented for 2018. The Company believes this will drive shareholder value by further aligning the Board's interests with the Company's shareholders. Similarly, earlier in 2017, the Board adopted a new compensation program for our senior leadership team, which in 2017 received incentive compensation exclusively in the form of restricted stock units tied to significant increases in shareholder value. CTG's Chairman of the Board, Daniel J. Sullivan commented, "The Board is very focused on aligning the interests of the Board and senior management with the Company's shareholders. With these two actions, I truly believe we have strengthened that relationship, and commend the management team and my fellow board members for their enthusiastic endorsement of these important changes to our compensation programs. As a significant shareholder of the Company, I am encouraged by the traction we have achieved to-date across the organization, and with our new director compensation program that will further create long-term shareholder value. The Board and the entire Company remains highly focused on execution against our strategic plan and financial objectives."

16:08 EDT EnteroMedics: AJOMC publishes cost-effectiveness study analyzing VBloc Therapy - EnteroMedics announced that a cost-effectiveness study analyzing vBloc Therapy for the treatment of obesity was published in the American Journal of Managed Care on August 25, 2017. The study concludes that vBloc Therapy for Class II and III obese patients with diabetes and Class III obese patients without diabetes is likely to be a cost-effective alternative to conventional weight loss therapy and that vagal nerve blocking represents good value for the money from the perspective of a U.S. payer.

16:06 EDT Henry Schein to acquire Merritt Veterinary Supplies, terms not disclosed - Henry Schein announced that it will acquire Merritt Veterinary Supplies, an independent, family-owned supplier of animal health products. Merritt serves approximately 4,500 veterinary clinics across the eastern U.S., and has a particularly strong presence in the southeastern U.S. Merritt had 2016 sales of approximately $115M. Henry Schein expects the acquisition to be neutral to its 2017 earnings per share and to be accretive thereafter. Upon the closing of the transaction, which is expected in the third quarter of 2017, Merritt will become part of Henry Schein Animal Health, the U.S. animal health business of Henry Schein. Financial terms were not disclosed.

16:02 EDT Bristol-Myers, Daiichi Sankyo announce collaboratie trial of Opdivo, DS-8201 - Bristol-Myers Squibb Company (BMY) and Daiichi Sankyo (DSNKY) announced a collaborative clinical trial to evaluate the combination of Bristol-Myers Squibb's immunotherapy Opdivo and Daiichi Sankyo's investigational antibody drug conjugate DS-8201 in HER2-expressing metastatic breast and urothelial cancers. The study is expected to begin enrollment in first quarter of 2018 in the US and Europe. Under the terms of the agreement, Daiichi Sankyo will be the sponsor conducting the trial.

15:48 EDT Lonestar provides update after Hurricane Harvey - As the storm approached, Lonestar received notice from its crude oil purchasers regarding suspended operations on August 24, and evacuated their field personnel from the Eagle Ford Shale producing region, and terminals which receive the bulk of Lonestar's crude oil via truck were shut-in. Additionally, refineries in Houston, Texas and Corpus Christi were shut down, and the Ports of Houston and Corpus Christi have been closed. Lonestar elected to continue producing the vast majority of its Eagle Ford Shale wells, and has been largely successful in maintaining production wherever adequate crude oil tankage is available. Lonestar has experienced reduced gas sales at Horned Frog due to an outage at its amine plant, shut-in certain of its wells in Gonzales County due to lack of availability of trucking capacity, and certain of its producing wells at Marquis have been shut-in due to power outages. Generally, we expect these outages to be short in duration. However, the bulk of the company's operated wells continue to produce, and in Dimmit and LaSalle Counties, trucking operations have already resumed and crude oil sales have recommenced this morning. Additionally, Lonestar ceased drilling operations at Burns Ranch, and delayed frac operations at Cyclone as a result of evacuations by its service providers. Lonestar currently anticipates resumption of drilling and completion operations later in the week.

15:42 EDT Genesis Energy says 'minimal operational disruptions' due to Hurricane Harvey - "Due to Hurricane Harvey, Genesis Energy has experienced minimal operational disruptions that are temporary in nature. During this time, our number one focus has been on the safety of our employees and our operations. In advance of the hurricane, Genesis started making preparations to limit the disruption of service to customers which included the following actions: Diverting production from Cameron Highway Oil Pipeline System to Poseidon, Moving the Pipeline and Terminal Operations Control Center control room to Austin, TX, and Moving the Marine Control and Dispatch to Ruston, LA. Due to the hurricane, Genesis has had several discrete short-term effects to offshore operations, the most significant of which was to CHOPS. As a result, approximately 30-35% of volumes were diverted from CHOPS to Poseidon with remaining volumes temporarily shut-in. Genesis expects to resume operations on CHOPS potentially as early as this afternoon. At this point, all operational impacts are expected to be short-term and to have less than a 2% effect on our otherwise expected quarterly results with no lasting effects." CEO, Grant Sims, said: "We have been following the storm closely, and we expect CHOPS to resume full operations within 12 hours of getting employees safely to the platform which could be as early as this afternoon. We continue to work closely with our customers in the Gulf of Mexico to keep a minimum impact on production flowing to refineries. As always, our focus continues to be on the safety of our employees and upholding our commitment to safe, reliable, and responsible operations."

15:09 EDT United suspending operations from Houston's Bush airport until at least Thursday - United Airlines is closing its hub at Houston's George Bush Intercontinental Airport and suspending all operations from IAH until at least Thursday, August 31, citing severe weather and unsafe road conditions near the airport. The airline is also extending its weather waiver for customers. United is offering a travel waiver for customers ticketed on flights to, from or through impacted cities from Aug. 25 through Sept. 5. Customers may reschedule their itineraries for travel through September 20 with a one-time date or time change, and the airline will waive the change fees and any difference in fare for flights booked in the same cabin and same arrival/destination airports, the airline noted.

14:17 EDT CAR-T stocks rise after Gilead announces $12B Kite Pharma purchase - Gilead Sciences (GILD) has announced that it is acquiring Kite Pharma (KITE) for nearly $12B. Commenting on the announcement, both Credit Suisse and Leerink said Gilead is unlikely to invest in other CAR-T players given the size of the deal, and should "only do small bolt on deals." Meanwhile, stocks of several players in the sector have jumped following the news. KITE PHARMA ACQUISITION: Gilead and Kite Pharma have announced that the companies have entered into a definitive agreement pursuant to which the former will acquire the latter for $180 per share in cash. The transaction, which values Kite at approximately $11.9B, was unanimously approved by both the Gilead and Kite Boards of Directors and is anticipated to close in the fourth quarter of 2017. The transaction will provide opportunities for diversification of revenues, and is expected to be neutral to earnings by year three and accretive thereafter. NEW CHAPTER: Commenting on the acquisition, Credit Suisse analyst Alethia Young told investors that a new chapter begins in Gilead's pipeline potential with Kite Pharma's acquisition. While the analyst was surprised with the deal, she is "certainly encouraged" that Gilead acquired Kite Pharma, which is a CAR-T platform technology company in oncology. The analyst argued that this lifts the biggest overhang on the story, namely "what will Gilead do?" Young now views the Kite platform as the centerpiece by which Gilead will build in immuno-oncology and, therefore, would only expect Gilead to do small bolt on deals from here in oncology perhaps to expand combination potential with CAR-T. She reiterated an Outperform rating and $79 price target on Gilead's shares. Leerink analyst Geoffrey Porges also voiced a similar opinion, noting that the $11.9B price paid by Gilead is "bracing," which suggests to him that Gilead is expecting revenue of $2B-3B from Kite's CAR-T platform in the future and that Gilead will not be investing in other CAR-T platforms, such as bluebird (BLUE), Juno Therapeutics (JUNO) and Cellectis (CLLS). However, the deal does not preclude Gilead from making further investments in other cancer treatment platforms, he added. Porges reiterated a Market Perform rating on Gilead's shares. Meanwhile, JPMorgan analyst Cory Kasimov told investors that he views the acquisition of Kite as a potentially promising start for Gilead, but believes the deal does not cure all for the company's issues. Kite is unlikely to impact Gilead's growth outlook anytime soon, Kasimov contended, adding that he thinks additional deals are still important for Gilead. WHAT'S NOTABLE: BTIG upgraded Juno Therapeutics to Neutral from Sell. Analyst Dane Leone said Gilead's acquisition of Kite will raise valuations across the CAR-T space due to a scarcity effect of remaining players. PRICE ACTION: In afternoon trading, shares of Gilead have gained over 2% to $75.39, while Kite's stock has jumped more than 28% to $178.30. Also higher are Juno Therapeutics, bluebird and Cellectis, which have risen 17%, 9% and 15%, respectively.

14:07 EDT Hershey buys 1.5M shares from Hershey Trust Company at $106.01 per share - Hershey disclosed that effective August 24, it entered into a stock purchase agreement with Hershey Trust Company, as trustee for the Milton Hershey School Trust, pursuant to which the company agreed to purchase 1.5M shares from the Trust at a price equal to $106.01 per share, for a total purchase price of $159,015,000. The transaction is expected to close on August 29. Hershey shares in afternoon trading are down 87c to $104.29.

13:46 EDT Texas Capital closes all Houston locations due to Tropical Storm Harvey - Due to the impacts of Tropical Storm Harvey, Texas Capital Bank announced that all of its Houston locations will be closed until further notice. The bank has implemented its business continuity plan, and is in active communication with Houston-area employees, all of whom have been accounted for. The bank expects to have reduced operating capability in Houston, but does not anticipate that the disruption will be significant to the bank in the near term. As a result of the flooding in the Houston area, and the concern for customers and employees, the management team has decided to close its locations until the bank's facilities and adjoining roads are accessible. Texas Capital Bank will continue to monitor the safety, security and infrastructure reliability of its offices and banking centers in the Houston region.

13:28 EDT Kalman Fishman reports 7.3% passive stake in Sensus Healthcare

13:26 EDT Joseph C. Sardano reports 12.1% passive stake in Sensus Healthcare

12:39 EDT Expedia Chairman Diller: Nothing has been yet finalized on Khosrowshahi move

12:36 EDT Xenia Hotels & Resorts: Houston, Austin hotels remain open, operating - Xenia Hotels & Resorts announced that preliminary physical inspections of its hotels directly impacted by Hurricane Harvey have indicated no significant property damage. This includes its three hotels located in the Houston, Texas area and one hotel located in Austin, Texas. These hotels currently remain open and operating, though the company recognizes that the storm remains an on-going threat and conditions may change at any time. Xenia is currently evaluating the financial impact from the storm and its ability to recover any lost income through insurance policies in place at the hotels. "Our thoughts go out to the people and communities impacted by Hurricane Harvey," commented Marcel Verbaas, President and CEO. "We continue to monitor the storm, but are confident in our hotel management teams' abilities to take care of their employees and guests. We are assessing the financial impact to our business, but for now are focused on supporting the operating teams at our properties as they cope with this natural disaster."

12:15 EDT Teladoc jumps after winning Federal Employee Program contract - The Blue Cross and Blue Shield Service Benefit Plan, also known as the Federal Employee Program, has selected Teladoc to provide general medical and behavioral health services for the 2018 benefit year, the company announced earlier in a press release. Teladoc shares are up 11%, or $3.30, to $33.15 in midday trading. The Federal Employee Program covers roughly 5.3M federal employees, retirees and their families. "We are excited to offer telehealth to our members in next year's offerings," said William Breskin, senior vice president of government programs at the Blue Cross Blue Shield Association. "We are always working to provide federal workers and their families with the most innovative solutions to meet their health needs. By providing a telehealth platform for our members, they will be able to get access to quality care anywhere and at any time." Oppenheimer analyst Mohan Naidu said in a research note to investors that he confirmed the Federal Employees will have direct access to Teladoc "without any limitations or restrictions (behind) of nurse line." The analyst expects telehealth awareness and reimbursement will continue to grow.

11:57 EDT InVitae pressured after report of possible false-negative test results - InVitae (NVTA) was under pressure late last week following a media report saying the genetic testing company was contacting physicians about possible false-negative test results that it announced in recent months. Leerink analyst Puneet Souda believes there will be no impact from re-testing, but clinicians are likely to monitor the company closely. POSSIBLE FALSE NEGATIVE RESULTS: According to a Dark Daily report on Friday, Invitae has told some physicians and clinicians in recent weeks that it has announced false-negative results. Clinical laboratory professionals with knowledge of the matter believe the cause of the false-negative results may have gone undetected for months and that genetic tests for a large number of patients may be involved, the publication added. The genetic testing company is said to have reported to its ordering physicians that it knows about a small number of false-negative reports that affect an estimated two to 10 patients who have a rare genetic variant in the MSH2 gene, known as the Boland Inversion and associated with Lynch syndrome. NO IMPACT FROM RE-TESTING: Commenting on the news, Leerink analyst Puneet Souda said he continues to reiterate an Outperform rating on InVitae. The analyst told investors that after the company recently reviewed and identified testing errors in patient samples with a rare form of hereditary colorectal cancer, he followed up with the Medical Director of Genetic Medicine at a major Northwest hospital. The conversation suggested that such testing errors do happen in a rapidly growing genetic testing industry, and it appears that InVitae is handling the response well, he argued. Nonetheless, Souda noted that the clinician, who is not a customer of the company, also cautioned that with a public disclosure of a testing error, InVitae will be closely watched by clinicians and genetic counselors alike, and must strengthen its quality controls to ensure a repeat does not follow. PRICE ACTION: Shares of InVitae are flat near noon, after sliding over 5% on Friday. Reference Link

11:14 EDT 51Talk signs global strategic partnership agreement with - 51Talk, or China Online Education Group, announced that it has signed a global strategic partnership agreement with leading educational publisher Highlights and Teacher Created Materials, or TCM. The "Read with Highlights" book series which 51Talk recently introduced has several key focuses. The first is on providing leveled reading materials that scale according to each student's language ability. These materials are categorized into four levels: novice, basic, advanced, and superior. Secondly, this series focuses on utilizing a wide range of story topics in order to further develop students' logical capabilities and abilities to think globally. The last focus is on great storytelling, which research has shown to improve students' language proficiency. The partnership with Highlights and TCM is a strategic move that will further allow 51Talk to combine high quality educational resources with a large scale online platform. In 2016, 51Talk entered into a partnership with American International School Utah, to collaborate in areas such as academic research, curriculum development, lesson product development, and teacher recruitment and training. Going forward, 51Talk aims to bridge its global educational resources with its students to better equip them to speak with the world.

11:05 EDT Medovex device added to Australian Register of Therapeutic Goods - Medovex's DenerveX Device, in combination with the DenerveX Generator unit, was granted inclusion in the Australian Register of Therapeutic Goods on August 25, according to a post to the Therapeutic Goods Administration website. Reference Link

10:56 EDT FDA statement on new oversight policy for stem cell and regenerative medicine - The following is an excerpt from FDA Commissioner Scott Gottlieb's statement on the FDA's new stem cell therapy guidelines: "One of the most promising new fields of science and medicine is the area of cell therapies and their use in regenerative medicine...Recent advances in our basic knowledge of the pathways involved in tissue damage and regeneration have combined with remarkable progress in adult stem cell biology to put us at a genuine inflection point in the history of medicine...However, with all of the medical potential, also comes novelty and uncertainty as this field matures. There are a small number of unscrupulous actors who have seized on the clinical promise of regenerative medicine, while exploiting the uncertainty, in order to make deceptive, and sometimes corrupt, assurances to patients based on unproven and, in some cases, dangerously dubious products...This puts the entire field at risk...At the same time, it's incumbent upon the FDA to make sure that this existing framework is properly defined, with bright lines separating new treatments that are medical products subject to the FDA's regulation from those therapies that are individualized by surgeons in such a way that they are not subject to FDA regulation...To make sure the agency is separating the promise from the unscrupulous hype, we are stepping up our enforcement activity in this area...In terms of compliance, and with regard to our increased oversight and enforcement: In the last few days alone, the FDA has taken steps in Florida and California to address a number of especially troubling products being marketed...Ultimately, the agency's goal is to make sure that the potential of regenerative medicine can continue to advance to benefit the patients who need new and innovative options for their medical problems." Companies that have programs in stem cell therapies and regenerative medicine include Sangamo (SGMO), Athersys (ATHX), Cellular Biomedicine (CBMG), Cytori Therapeutics (CYTX), Cesca Therapeutics (KOOL), VistaGen Therapeutics (VTGN), Pluristem Therapeutics (PSTI), BrainstormCell Therapeutics (BCLI), and Caladrius Biosciences (CLBS). Reference Link

10:44 EDT Analyst says sell NuVasive with Medtronic seen hampering share gains - Research firm Needham downgraded NuVasive (NUVA) to Underperform, its equivalent of a sell rating, from Hold. Increased competition from Medtronic (MDT) will prevent NuVasive from gaining sufficient market share to meet consensus estimates, the firm stated. NuVasive develops and markets an automated platform that enables minimally invasive spinal surgeries. MARKET SHARE FIGHT: To meet consensus estimates, NuVasive's share of the spinal surgery market will have to increase by an average of about 0.75 percentage points, versus the same period a year earlier, during each of the next quarters through 2019, estimated Needham analyst Mike Matson. However, NuVasive's market share is more likely to decrease than increase because Medtronic's performance in the spinal space has improved, the analyst stated. Specifically, Medtronic is launching its products more quickly, is focusing more intensely on procedures, and is more effectively integrating its equipment, Matson stated. Over the past year ,the combined share losses of Medtronic and Johnson & Johnson (JNJ) in the spine market have dropped to just 0.1 percentage point per quarter, down from the 1.2 percentage points per quarter that they had been losing for the previous three years, the analyst said. REVENUE OUTLOOK: NuVasive's revenue is more likely to rise by about 5% than by upper single digit levels, predicted Matson. As a result, he believes that the company will have difficulty meeting the 2018 and 2019 consensus EPS estimates of $2.45 and $2.94, respectively. PRICE ACTION: In morning trading, NuVasive fell 1.5% to $60.70.

10:33 EDT Expedia falls on reports Khorowshahi will be offered Uber CEO position - WHAT'S NEW: Expedia CEO Dara Khosrowshahi will be offered the CEO role at Uber, Recode reported this weekend, citing sources. According to Kara Swisher, Khosrowshahi is likely to accept the role; however, sources said Khosrowshani has not yet been offered the job. Swisher noted that Khosrowshahi was the "truce" choice for Uber's board, which has been facing infighting between ousted CEO Travis Kalanick and Benchmark, one of its major investors. WHAT'S NOTABLE: According to the Recode rport, former GE (GE) CEO Jeff Immelt withdrew his name from contention when it was clear he would not win the job. Immelt said in a tweet, "I have decided not to pursue a leadership position at Uber. I have immense respect for the company & founders - Travis, Garrett and Ryan." The report also said HP Enterprise (HPE) CEO Meg Whitman had the upper hand in the race for Uber's CEO role, but "also wanted a number of things -- including less involvement by ousted Uber CEO Travis Kalanick and more board control -- that became too problematic for the directors." Whitman was again considered for the top position over the weekend, CNBC's David Faber reported. Last week, Whitman reiterated her statement that she would not be Uber's next CEO, telling The Wall Street Journal that "nothing has changed" since her July 27 tweets, when she stated "I am not going anywhere" and "Uber's CEO will not be Meg Whitman." ANALYST REACTION: SunTrust analyst Naved Khan said this morning that the departure of Khosrowshani from Expedia would be "negative" because the CEO has played a role in Expedia's success. However, Khan added that the impact on Expedia's business would be "minimal," given what he calls the company's "deep and seasoned executive bench," along with the autonomy of its business units. The analyst kept a $190 price target and a Buy rating on shares. Cowen analyst Kevin Kopelman had similar views, calling the move a "clear win" for the executive and for Uber and a "major loss" for Expedia. While he expects Expedia shares will likely suffer a selloff on the news, he said Expedia has a strong bench and believes the company is "in good hands" with Mark Okerstrom, who has been CFO and EVP of Operations since 2011. Kopelman has a $170 price target and an Outperform rating on Expedia shares. PRICE ACTION: Expedia fell 4.4 to $142.70 in morning trading.

10:20 EDT LiqTech receives two new orders for marine scrubber water treatement systems - LiqTech International is pleased to announce that the company has received two new orders for the company's systems for treatment of waste water from marine scrubbers. Sune Mathiesen, LiqTech CEO, remarked, "We are pleased to receive these new orders for our marine scrubber water treatment systems. As earlier discussed we are experiencing a positive development in our marine scrubber business and we believe that we will see a further ramp-up in 2H17."

10:11 EDT Advanced Accelerator reports PDUFA date of January 26, 2018 for Lutathera - Advanced Accelerator Applications announced that the FDA has acknowledged receipt and considered complete the resubmission of the New Drug Application for investigational drug lutetium Lu 177 dotatate, or Lutathera. The Agency provided a new Prescription Drug User Fee Act date of January 26, 2018. AAA resubmitted the NDA following receipt of a complete response letter from the FDA in December 2016, in which the Agency cited issues with the format, traceability, uniformity, and completeness relating to the NETTER-1 and Erasmus clinical datasets, which precluded FDA reviewers from performing the required independent analysis of these clinical studies. The CRL also requested subgroup analyses for gender, age and racial subgroups, as well as other stratification factors and important disease characteristics, and a safety update on clinical and non-clinical studies. In addition, the CRL noted that any observations made during inspections of manufacturing facilities supporting the NDA need to be resolved prior to approval of the NDA. No additional clinical studies were requested in the CRL and there were no comments at that time on other sections of the NDA submission. The company recently announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency issued a positive opinion recommending the marketing authorization of lutetium oxodotreotide for the treatment of unresectable or metastatic, progressive, well differentiated, somatostatin receptor positive gastroenteropancreatic neuroendocrine tumors in adults.

10:01 EDT Comtech awarded $8.6M contract modification from U.S. Army - Comtech announced that during its fourth quarter of fiscal 2017, its Maryland-based Command & Control Technologies group, which is part of Comtech's Government Solutions segment, has received a contract modification valued at $8.6M from the U.S. Army Program Executive Office Command, Control, Communications-Tactical. The modification increases the total amount funded on this delivery order from $82.1M to $90.7M and extends the period of performance through July 2018. The funding will provide enhanced communications infrastructure for U.S. forces in the Central Command Area of Responsibility.

09:59 EDT LiNiu Technology announces effectiveness of one-for-six reverse share split - LiNiu Technology announced that its shareholders have approved a one-for-six reverse share split of LINU's issued and outstanding shares, and the split will become effective at 12:01 am on Tuesday, August 29, 2017. The reverse split is intended to increase the per share trading price of LINU's common stock to enable the Company to satisfy the minimum bid price requirement for continued listing on the NASDAQ Capital Market. The 1-for-6 reverse share split will automatically convert six current shares of LINU's common stock into one new share of common stock. No fractional shares will be issued, and no cash or other consideration will be paid. Instead, LINU will issue one whole share of the post-split common stock to any shareholder of record who otherwise would have received a fractional share as a result of the reverse share split. The reverse split will reduce the number of shares of outstanding common stock from approximately 74.9M to approximately 12.5M. Trading in LINU's common stock on a split-adjusted basis is expected to begin at market open on Tuesday, August 29, 2017. LINU's common stock will continue to trade on the Nasdaq Capital Market under its existing symbol LINU with a new CUSIP number of G54971208. Shareholders' ability to trade in LINU's common stock should be unaffected by the reverse share split.

09:43 EDT Jim Cramer says he'd buy Gilead shares to $80 - Cramer is speaking on CNBC following Gilead's acquisition of Kite Pharma (KITE). Gilead is trading up $1.72 to $75.51 in early trading.

09:38 EDT Aquinox issues statement on FDA committee meeting - Aquinox Pharmaceuticals issued the following statement regarding the announcement by the FDA Division of Bone, Reproductive and Urology Products, or DBRUP, that it will hold an Advisory Committee meeting to discuss Interstitial Cystitis and Bladder Pain Syndrome, or IC/BPS. "The FDA had indicated to us previously and confidentially the possibility of this meeting and we welcome the opportunity of a public forum, with input from patients, clinicians, regulators and sponsors, to incorporate current thinking around therapeutic development in IC/BPS," said David Main, President & CEO of Aquinox. "With the diagnosis and treatment of IC/BPS having evolved since the last oral drug for IC/BPS was approved in the US more than 20 years ago, we regard this meeting as recognition of the persisting high unmet need for new, effective therapies and of the debilitating impact of this disease on millions of patients. We believe the meeting will add important context in advance of our reporting of results from our LEADERSHIP 301 trial and greater clarity for the design of future clinical trials with rosiptor in IC/BPS."

09:29 EDT PharMerica discloses early termination of Hart-Scott-Rodino act - PharMerica discloses that on August 25, the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in connection with the proposed merger with Phoenix Parent Holdings.

09:16 EDT Mastercard to bring contactless payments to Fitbit's Ionic smartwatch - Mastercard (MA) announced that it was bringing Mastercard contactless payments to Fitbit's (FIT) first smartwatch, Fitbit Ionic. "With Fitbit Ionic, health and fitness enthusiasts who use the device will be able to add their eligible cards to their fitness smartwatch and pay by simply tapping their device near a contactless terminal at more than 6.6 million merchant locations globally," Mastercard says.

09:13 EDT On The Fly: Pre-market Movers - HIGHER: Altisource (ASPS), up 18% after entering a cooperative brokerage agreement with New Residential (NRZ)... Gilead Sciences (GILD) is up 1% and Kite Pharma (KITE) is up 29% after the companies announced that Gilead will acquire Kite for $180 per share in cash. UP AFTER GILEAD/KITE ANNOUNCEMENT: bluebird bio (BLUE), up 8.3%... Juno Therapeutics (JUNO), up 18.8%... Cellectis SA (CLLS), up 10.2%. LOWER: China Cord Blood (CO), down 1.2% after it announced the adoption of a 10b5-1 sales plan... Merit Medical Systems (MMSI), down 1.2% after being downgraded to Outperform from Strong Buy at Raymond James... Kimco Realty (KIM), down 1.3% after being downgraded to Hold from Buy at Argus.

09:08 EDT AMD, Baidu collaborate to advance GPU computing in the datacenter - AMD (AMD) and Baidu (BIDU) announced a collaboration focused on optimizing software for AMD Radeon Instinct GPUs in Baidu datacenters. "AMD is the only company with the capability to deliver both the high-performance GPUs and CPUs required to power the next generation of cloud datacenters," said Forrest Norrod, SVP and general manager, Enterprise, Embedded and Semi-Custom, AMD. "Together, AMD and Baidu will leverage the two companies' world-class technology and software engineering capabilities to create a comprehensive and open ecosystem to address the growing demand for datacenter workloads and provide more intelligent human-computer interaction." "As the world's leading AI technology company and datacenter technology leader, Baidu has always embraced innovation and creative solutions. In July, Baidu announced a complete open AI strategy, launching the conversational-based DuerOS and Apollo autonomous driving open platforms at the inaugural Baidu Create AI Developer Conference. With open minds and win-win thinking, Baidu and industry partners work together to create a prosperous worldwide AI ecosystem to 'let everyone get more'," said Liu Chao, senior director at Baidu's System Technologies Department. "We are delighted to work with AMD to introduce AMD Radeon Instinct products into our datacenter and AI program, to build a more flexible and powerful computing platform that empowers AI products and accelerates the development of the global industry."

09:06 EDT Fitbit announces guidance and coaching service based on user data - Fitbit introduced a new premium guidance and coaching paid offering designed to analyze your Fitbit data and activity level to deliver a custom curriculum of workouts, programs, content and other tools tailored to your specific goals. The first tools to launch with this offering include a new Fitbit Coach app, which rebrands the current Fitstar Personal Trainer app and combines its popular dynamic video workouts with new Audio Coaching sessions, expert-designed to help you increase endurance, speed and form. We're also introducing Guided Health Programs, which provide step-by-step guidance, personalized insights, educational tools and rewards to influence positive behavior change and health outcomes. Throughout 2018 and beyond, Fitbit's new premium offering will grow to include advanced tools with a library of programs and workouts developed with Fitbit's Advisory Panel, to deliver adaptive health and fitness coaching personalized to you. The new coaching services will launch with the Fitbit Coach personal training app, available on Android, iOS, and Windows devices in Fall 2017 with introductory pricing of $7.99 per month or $39.99 per year. Audio Coaching will be available on Fitbit Ionic in 2018. The first Guided Health Programs will be available this winter in the "Coach" section of the Fitbit app.

09:04 EDT Fitbit introduces Aria 2 Wi-Fi smart scale - Fitbit unveiled its Fitbit Aria 2 Wi-Fi Smart Scale, reengineered for best-in-class accuracy and easy setup via your smartphone's Bluetooth connection, helping you track and understand your body composition including weight, body fat percentage, lean mass and BMI. By syncing your data from Aria 2 with the Fitbit app, you can see all of your stats in one place making it easier to track your progress and get results. Aria 2 is available for presale today on Fitbit.com, with availability starting in Fall 2017.

09:03 EDT SenesTech signs agreement for ContraPest at East Coast food production facility - SenesTech,announced the commencement of a one year agreement for the deployment of ContraPest at a food production facility on the East Coast. The agreement provides the facility's manager with a safe and effective solution for controlling rodent infestations, helping their registered Pest Management Professional to fill a need, where traditional rodenticide is unable to be utilized and trapping is impractical and has proven ineffective.

09:01 EDT Abbott receives FDA approval of HeartMate 3 system - Abbott announced it has received U.S. FDA approval for its Full MagLev HeartMate 3 Left Ventricular Assist System. The HeartMate 3 system provides a new option for physicians managing advanced heart failure patients in need of short-term hemodynamic support (bridge-to-transplant or bridge to myocardial recovery). The system also provides patients living with their device new benefits that embody the evolution of left ventricular assist device therapy, such as improved blood flow in a pump that uses full magnetic levitation to reduce trauma to blood passing through the system.

08:46 EDT Gilead says hopes to retain most of Kite Pharma employees

08:41 EDT Coherus Biosciences announces topline results for CHS-1420 PK/BE study - Coherus BioSciences reported topline results from the first of three ongoing pharmacokinetic bioequivalence, or PK/BE, studies comparing CHS-1420, a proposed adalimumab biosimilar candidate versus European marketed Humira. The study met the criteria for clinical PK/BE on all prospectively defined endpoints: maximum serum concentration, area under the time-concentration curve from first to last time point measured, and area under the time-concentration curve from first time point extrapolated to infinity. The 90% confidence intervals of the geometric mean ratios for all PK endpoints fell well within the bioequivalence boundaries of 80% to 125%. Both agents were well tolerated and there were no clinical meaningful differential adverse events observed between the two agents in this study. This study was a randomized, single-blind, single-dose, parallel-group study in 216 healthy subjects designed to assess the PK/BE of CHS-1420 to that of European marketed Humira by comparing relative bioavailability after sub-cutaneous administration of a single 40 mg dose. The safety and tolerability of CHS-1420 was also evaluated.

08:37 EDT Gilead: Cellular therapy space 'competitive' - Says "exactly the environment we will thrive in."

08:35 EDT Finjan Holdings announces formation of new subsidiary, Finjan Blue with IBM - Finjan Holdings (FNJN) announced that it has formed a new subsidiary, Finjan Blue, Inc., a Delaware corporation and wholly owned subsidiary of Finjan Holdings, which has entered into a patent acquisition and development agreement with IBM (IBM), and includes pathways for the two companies to consider development efforts in the future. The Agreement, the terms of which are confidential, includes the transfer of select security-related patent assets and provides for the sharing of pertinent institutional knowledge and resources by IBM to Finjan Blue.

08:33 EDT Streamline Health announces new services agreement with Nobilis Health - Streamline Health Solutions (STRM) announced a new services agreement for its A/R Management, Denials Management and Business Analytics software with Houston-based Nobilis Health (HLTH), a full-service healthcare development and management company with 25 locations across Texas and Arizona.

08:31 EDT Yum China names Jacky Lo as CFO, effective September 1 - Yum China announced the appointment of Jacky Lo as its CFO, effective September 1. Jacky Lo has served as the Interim CFO and Treasurer of Yum China since June 2017. He has also served as Vice President, Controller and Principal Accounting Officer since March 2017. Lo, previously served as Vice President, Finance of the Company, a position he held from October 2016 to March 2017. Lo joined Yum! Restaurants China, a division of Yum! Brands, in August 2016 as Vice President, Finance.

08:30 EDT Fusion Telecommunications trading resumes

08:16 EDT HP Inc. to add VMware Workspace ONE to DaaS platform - VMware (VMW) and HP Inc. (HPQ) announced a partnership that will add VMware Workspace ONE to HP's Device as a Service, or DaaS, technology platform. "Workspace ONE, an integrated platform powered by VMware AirWatch Unified Endpoint Management technology, provides a holistic and user-centric approach to managing all endpoints in an organization -- from mobile and desktop to Internet of Things. HP DaaS offers a modern consumption model for computing in which hardware and lifecycle services are combined to improve the user experience and free up IT resources to drive growth...By incorporating Workspace ONE into HP DaaS' rich management toolset, HP DaaS Service Agents will benefit from additional capabilities to provide comprehensive fleet management to help customers increase efficiency, improve the employee experience, and free up IT resources to drive growth in a transformed workplace," the companies stated.

08:14 EDT Fortinet FortiGate VM now available for VMware Cloud on AWS - Fortinet (FTNT) announced that its FortiGate Virtual Machine, or VM, is available to customers of VMware Cloud (VMW) on AWS (AMZN). As enterprises transition to hybrid cloud infrastructure, 51-percent of recent survey respondents indicate that security remains a top challenge. FortiGate VMs provide VMware Cloud on AWS users with a combination of advanced threat intelligence from FortiGuard Labs with the industry leading security operating system, FortiOS, delivering complete security control, workload visibility and management across physical, virtual and cloud environments. Enterprises can now move workloads from the data center to the AWS public cloud securely without jeopardizing policy visibility.

08:11 EDT Xarelto plus ASA lowered risk of strike, heart attack in Phase III study - In the Phase III COMPASS study, the vascular dose of Bayer's (BAYRY) Factor Xa inhibitor, rivaroxaban, or Xarelto, plus acetylsalicylic acid 100 mg once daily, reduced the risk of the composite outcome of stroke, cardiovascular death, and heart attack by 24% in patients with chronic coronary artery disease or peripheral artery disease. The study compared this combined approach with ASA 100 mg once daily alone. Patients included in the study had already received guideline recommended therapy for hypertension, high cholesterol and diabetes1. A 5 mg twice daily dose of rivaroxaban was also investigated but the difference in the primary outcome did not reach statistical significance1. Data were revealed during two Hot Line presentations at ESC Congress 2017 in Barcelona, Spain, August 26-30. The COMPASS findings were simultaneously published in The New England Journal of Medicine. The benefit shown in the combined efficacy endpoint, major adverse cardiovascular events, for rivaroxaban 2.5 mg twice daily plus ASA 100 mg once daily was mainly driven by a significant reduction of stroke and CV death. The regimen also reduced the risk of heart attack by 14%; however, this result was not statistically significant. This combination regimen demonstrated a substantial 20% improvement in net clinical benefit, defined as the reduction in stroke, CV death, and heart attack balanced against the most serious bleeding events1. The hazard ratio for all-cause mortality was 0.82. Bleeding incidence rates were low, and while there was an increase in major bleeding, notably, there was no significant increase in fatal or intracranial bleeding. Importantly, in the PAD patient population, the combination of major adverse limb events plus all major amputations of a vascular cause were reduced significantly. Rivaroxaban was discovered by Bayer, and is being jointly developed with Janssen Research & Development (JNJ). Xarelto is marketed outside the U.S. by Bayer and in the U.S. by Janssen Pharmaceuticals.

08:11 EDT AEP Ohio files settlement agreement with PUCO - AEP Ohio, an American Electric Power company, has filed a settlement with the Public Utilities Commission of Ohio addressing the company's Electric Security Plan. The agreement addresses key elements of the ESP such as electric vehicle charging, renewable generation and distribution grid reliability through 2024. AEP Ohio will be able to invest in infrastructure projects, such as upgrading the electric distribution grid and other measures to enhance reliability for customers. This settlement also allows AEP Ohio to develop pilot programs for EV charging station development and micro grids, funded by a new charge that will end after the demonstration projects are completed in four years. These pilot programs will provide data and insights for AEP Ohio, the PUCO and others interested in expanding these technologies throughout the state. A typical residential customer using 1,000 kilowatt-hours per month would see less than a 50c per-month increase in their bill. Detailed customer impacts will be available as part of the hearing process.

08:09 EDT DXC Technology, VMware expand global partnership - DXC Technology (DXC) and VMware (VMW) announced an expansion of their long-standing partnership, with the unveiling of new DXC Managed Cloud Services enabled by VMware's next generation hybrid cloud services platforms. DXC will be one of the first VMware partners to provide VMware Cloud on AWS offerings with associated managed services. This new initiative enables DXC clients to accelerate their journey to the hybrid cloud while benefiting from an operationally consistent, resilient, secure and cost-effective hybrid cloud environment based on VMware Cloud on AWS (AMZN).

08:07 EDT Saratoga Investment raises quarterly dividend to 48c per share - Payable on September 26 to all stockholders of record at the close of business on September 15.

08:06 EDT AMS announces start of treatments with Gamma Knife Perfexion system - American Shared Hospital Services announced that physicians have begun treating patients with the Gamma Knife Perfexion system AMS supplied to Bryan Medical Center, Lincoln, Nebraska.

08:05 EDT Fusion to acquire Cloud and Business Services business from Birch Communications - Fusion announced that it has entered into a definitive agreement to acquire the Cloud and Business Services customers, operations and infrastructure of privately-held Birch Communications, which represents the majority of Birch's current revenues. The transaction is expected to close by the end of 2017, subject to customary approvals and closing conditions. The combination is expected to create one of the largest cloud services providers in North America, with more than 150,000 business customers and a 100% Internet Protocol-based network, including 30 data centers, 31,000 fiber route-miles of network, and metro fiber assets in 11 major markets. The combined customer base is expected to demonstrate strong fundamentals, with monthly recurring revenue comprising approximately 87% of total revenue. In addition, the combined company will have significant opportunities for growth by cross-selling and upselling to existing customers with a comprehensive suite of cloud and business services. The acquisition will not include Birch's legacy consumer and single-line business customers, which have lower profitability and Average Revenue Per Customer as well as higher churn rates. Combined company is expected to have total pro forma annual revenue of approximately $575M and more than $150M in pro forma annual adjusted EBITDA, including anticipated cost synergies. Fusion will assume Birch's existing debt of approximately $458 million, which is expected to be refinanced along with Fusion's existing debt. Matthew Rosen, CEO of Fusion, will serve as CEO of the combined company and will assume the role of Chairman of the Board.

08:04 EDT ViaSat awarded new cybersecurity software contract - ViaSat announced it was awarded a production contract to provide ViaSat Mobile Dynamic Defense cybersecurity software to protect and secure Tactical Local Area Network Field Computing Device - Wearable platforms. Using the information assurance 'Defense in Depth' model where multiple layers of security controls and countermeasures are woven together, the ViaSat MDD platform ensures sensitive information hosted on the End User Device is continually checked and protected from compromise - even if the EUD is disconnected from infrastructure, or the EUD remote management system.

08:03 EDT Cadence Bancorporation updates customers about service amid Hurricane Harvey - "As Hurricane Harvey continues to impact Houston and the Gulf Coast, Cadence Bank wishes to reassure customers and clients that it remains ready to serve their banking needs," the company said. "We know many people in low-lying areas of Houston have been impacted by severe flooding, and for many, this impact has been significant," said Paul Murphy, Jr., chairman and CEO of Cadence. "Our thoughts are with these families as they work through these hardships and strive to ensure the safety of family members. We want to reassure you that Cadence Bank is here for you, and when you're ready, we are prepared to meet your banking needs." While Cadence's banking services remain fully functional, due to ongoing dangerous weather conditions, Cadence's Houston-area and Gulf Coast-area offices will be closed on Monday, Aug. 28. Contingency capabilities have been activated to ensure ongoing customer service is not impacted, and all operations are fully functional through remote worksites and Cadence's regional locations, including the Birmingham, Ala. and Starkville, Miss. operational sites. In addition, Cadence Bank's remote banking services, including online and mobile banking, are available 24/7. "At Cadence, we are known for our commitment to service. We remain passionate about this commitment - not only to our customers, but also to our employees, as we work through the impacts of this horrific storm. We are proud to be a Houston-based bank and are here for our city," Murphy stated.

08:02 EDT Immune Pharmaceuticals continuing to focus on development of two core assets - Immune Pharmaceuticals said it continues to focus on the development of its two core assets: (1) bertilimumab, a first in class, monoclonal antibody in Phase 2 clinical development for Bullous Pemphigoid an orphan autoimmune dermatological condition affecting approximately 30,000 patients in the United States, and Ulcerative Colitis a chronic inflammatory bowel disease distinguished by inflammation of the large intestine; and (2) a topical nano-formulation of cyclosporine for the treatment of psoriasis and atopic dermatitis, also known as atopic eczema, an inflammatory skin disease. "We continue to enroll subjects into the Phase 2 open label BP trial. Six subjects have been enrolled, with a target enrollment of 12 to 15. We look forward to the completion of this proof-of-concept study and subsequent publication early in 2018. Our Orphan Drug Designation application for bertilimumab in BP was filed in February 2017. We continue to enroll subjects into the Phase 2 placebo-controlled, double-blind clinical trial of bertilimumab in UC. Seventeen subjects have been enrolled, with a target enrollment of 42. We expect to complete the study in the second quarter of 2018. We are developing an improved manufacturing process for bertilimumab, using a proprietary and highly productive cell line, which will reduce cost of goods significantly. We have initiated development of a sub-cutaneous delivery formulation of bertilimumab."

08:00 EDT MaxPoint trading resumes

07:47 EDT U.S. Gold provides 2017 Keystone scout drilling results - U.S. Gold recently completed the last four holes as part of its scout drilling program on the Keystone Project, Cortez Gold Trend, Nevada, and is pleased to report the following summary of results. U.S. Gold Corp.'s Vice President and Head of Nevada Exploration, Dave Mathewson stated, "Our intent was to complete a scout drill-hole campaign at Keystone to investigate the stratigraphy and extent of alteration within 6 unique areas of the project. Early winter conditions in 2016 forced us to complete the last 4 holes of this program this summer. Keystone has never been systematically explored using modern exploration techniques with a model driven approach in its history, as such these holes were vital to gain an understanding of the rock formations and alteration characteristics in the district. We chose these locations through our first phase geophysics and geochemistry surveys. The results of this drill program have been encouraging. The extent and severity of the alteration encountered and the thickness of permissive rock packages combined with the shallow depths they were encountered and Keystone's structural complexity highlight the potential of this district scale mineral system. The drilled intercepts bare many similarities to world-class gold deposits located on the north Carlin Trend and neighboring Cortez Trend deposits. Hole Key17-03rc for example is indicative of the size of the system. It encountered extraordinarily thick sections of permissive host rock and ultimately gave us a strong vectoring direction to what we anticipate to be much better mineralization. There was an upper 705ft thick gold anomalous zone in Horse Canyon, and perhaps more importantly a 190ft thick zone of strongly anomalous gold in the lower Wenban, along with very indicative associated Carlin-type alteration. This zone remains completely open in essentially all directions, and we are now going to intensify our surface geochemistry and geophysics in this area. We are currently designing a fall drilling program that will include the first vectoring drilling phase in the Key17-01rc through 03rc target area. This target location is one of several that we have identified within the Keystone project as we continue the hunt for large Carlin-type gold deposits."

07:37 EDT UQM Technologies announces stock purchase agreement with CNHTC - UQM Technologies announced that it has entered into a definitive stock purchase agreement with China National Heavy Duty Truck Group, through its wholly owned subsidiary, Sinotruk Limited, the parent company of Sinotruk, a leading Chinese commercial vehicle manufacturer, and that UQM and CNHTC plan to create a joint venture to manufacture and sell electric propulsion systems for commercial vehicles and other vehicles in China. CNHTC has headquarters in Jinan, China. CNHTC's investment and creation of the JV is planned to occur in two stages. First, CNHTC will acquire newly issued common shares of UQM, resulting in a 9.9% ownership interest of common shares issued and outstanding. This is expected to close within 30 days of signing of the Agreement. Second, CNHTC will acquire additional newly issued common shares resulting in CNHTC owning a total of 34% of UQM's issued and outstanding common stock on a fully diluted basis. The purchase price is 95c per share, which represents a 15% premium over the 30-day closing price average for the period ending on the last trading date before signing. The total transaction will bring approximately $28.3M in cash to UQM. The terms of the Agreement were unanimously approved by the boards of directors of both companies. UQM shareholders will continue to hold their shares in UQM, and UQM stock will continue to be traded on the NYSE MKT. The Agreement is subject to usual and customary closing conditions, and closing of the second stage will require approval by UQM's shareholders representing a majority of UQM's voting shares. Closing is expected to occur as soon as possible following shareholders' approval and receipt of approval from the Committee on Foreign Investment in the United States and the required Chinese regulatory authorities. The parties expect the closing will occur in December. As part of the Agreement, the parties have agreed that following the closing, CNHTC will have the right to nominate up to three of eight total directors to UQM's board of directors with one CNHTC representative expected to be elected as the Chairman of the Board. After the closing of the Agreement, UQM and CNHTC intend to form a joint venture for the manufacture and sales of electric propulsion systems in China. The parties expect Sinotruk to be a significant purchaser of electric drive trains from the JV for Sinotruk's commercial vehicles and other customers will be identified for sales as well.

07:34 EDT Biogen announces data from Phase 1b study of Aducanumab - Biogen announced results from an analysis of the long-term extension of its ongoing Phase 1b study of aducanumab, the company's investigational treatment for early Alzheimer's disease. The updated analyses include data from the placebo-controlled period and LTE for patients treated with aducanumab up to 24 months in the titration cohort and up to 36 months in the fixed-dose cohorts.The results are consistent with previously reported analyses from this ongoing Phase 1b study and support the design of the ongoing Phase 3 studies of aducanumab for early Alzheimer's disease. The Phase 1b is a randomized, double-blind, placebo-controlled, multiple-dose study evaluating the safety, tolerability, pharmacokinetics, pharmacodynamics and clinical effects of aducanumab in patients with prodromal or mild Alzheimer's disease. The study includes fixed dosing at 1, 3, 6 and 10 mg/kg as well as an arm with a titration regimen. Patients who completed the 54-week, placebo-controlled period of the Phase 1b study had the option to continue in the LTE. The new analyses include 143 patients who remained in the LTE. The LTE cohorts are small populations:Patients initially randomized to the aducanumab titration regimen in the 12-month placebo-controlled period and treated up to 24 months. Patients initially randomized to aducanumab 3, 6 or 10 mg/kg and treated up to 36 months. Patients who were randomized to placebo or aducanumab 1 mg/kg in the placebo-controlled period who were switched to aducanumab 3 mg/kg or to a 3-6 mg/kg titration regimen in the LTE and treated up to 24 months. Patients who were randomized to placebo in the placebo-controlled period who were switched to aducanumab 1-3-6-10 mg/kg titration regimen in the LTE and treated up to 12 months. In the Phase 1b LTE, the most commonly reported adverse events were headache, fall and amyloid-related imaging abnormalities. Of the 185 patients dosed with aducanumab in the Phase 1b study, 46 patients experienced ARIA-E. There were no new cases of ARIA-E in patients who continued on the same dose of aducanumab. The incidence of ARIA-E in patients switching from placebo to aducanumab was consistent with the incidence reported in the placebo-controlled portion of the Phase 1b study. Six patients experienced more than one episode of ARIA-E. These recurrent events were consistent with other ARIA events reported to date; they were typically asymptomatic, and most patients continued in the study. In patients treated up to 24 months in the titration cohort, amyloid plaque reduction as measured by positron emission tomography was consistent with the dose- and time-dependent results observed in the fixed-dose cohorts. Analyses of exploratory clinical endpoints, Clinical Dementia Rating sum of boxes and the Mini-Mental State Examination, were consistent with the results from the fixed-dose cohorts and suggest a continued benefit on the rate of clinical decline during the second year of treatment. In patients treated up to 36 months, amyloid plaque as measured by PET continued to decrease in a dose- and time-dependent manner, with amyloid plaque levels in the 10 mg/kg fixed-dose cohort reaching and remaining at a level considered below the quantitative cut-point that discriminates between a positive and negative scan1. At 36 months, analyses of exploratory clinical endpoints CDR-SB and the MMSE suggest a continued benefit on the rate of clinical decline during the third year of treatment.

07:32 EDT Deltic Timber hasn't set timetable for completion of strategic alts process

07:31 EDT Deltic Timber 'committed' to exploring all options, both internal and external

07:25 EDT MaxPoint trading halted, news pending

07:14 EDT Gilead sees $11.9B Kite Pharma acquisition closing during Q4 - In presentation slides discussing the $11.9B acquisition of Kite Pharma (KITE), Gilead (GILD) said the transaction has been unanimously approved by the boards of directors of both companies. The acquisition is expected to close during Q4, the company said. Gilead notes that Axi-cel, Kite's lead product, is under review with a U.S. PDUFA date of November 29 and European approval anticipated in 2018.

07:09 EDT Kite Pharma to resume trading at 7:30 am ET - Shares of Kite Pharma (KITE) are scheduled to resume trading at 7:30 am ET, with quotation to resume at 7:25 am ET, according to Nasdaq. Gilead Sciences (GILD) and Kite have announced that Gilead will acquire Kite for $180.00 per share in cash in a transaction that values Kite at approximately $11.9B.

07:07 EDT Kratos Defense receives $3.8M in orders - Kratos Defense announced that its Modular Systems Division, or MSD, recently received approximately $3.8M in specialized command, control, communication, computing, combat and intelligence, surveillance and reconnaissance, or C5ISR, modular system and equipment orders. MSD is a leading provider of specialized hardware, products, equipment and modular systems that are critical elements of and support strategic national security related programs, platforms and systems including, unmanned aerial drone, high power directed energy, satellite communication, radar, ballistic missile defense and intelligence, surveillance and reconnaissance. The work under these recent contract awards will be performed in a secure Kratos manufacturing facility. Due to customer related, competitive and other considerations, no additional information will be provided related to these awards.

07:04 EDT Gilead to acquire Kite Pharma for $11.9B

07:03 EDT The Medicines Co., Alnylam report new data from ORION-1 Phase II study - The Medicines Company (MDCO) and Alnylam Pharmaceuticals (ALNY) announced new data from the ORION-1 Phase II study of inclisiran, an investigational, first-in-class PCSK9 synthesis inhibitor being developed for the treatment of hypercholesterolemia. The data were presented today in the "Hot Line - Late-Breaking Clinical Trials 2" session at the European Society of Cardiology Congress 2017, being held in Barcelona, Spain. Following the presentation of primary results from ORION-1 at ACC.17 in March 2017 and publication of results in The New England Journal of Medicine in May 2017, the data presented at ESC 2017 complete an important picture of patient follow-up to one year, including time-averaged LDL-C lowering effects, intra-patient variability and extended safety observations. Efficacy data affirm inclisiran's significant LDL-C lowering effects following a starting dose of 300 mg given on Day-1 and Day-90, after which the mean LDL-C reduction was 56% at Day-150 and 51% at Day-180. For the subsequent six-month period - from Day-90 to Day-270 - the time-averaged LDL-C reduction was 51% with minimum intra-patient variability over time. These robust data underscore the selection of a six monthly maintenance dose of 300 mg in Phase III trials, which are now in advanced stages of preparation. The Phase III LDL-C lowering trials in 3,500 patients, which are designed to form the basis for inclisiran approval in the United States and Europe, are expected to test the starting dose of 300 mg given on Day-1 and Day-90, followed by a maintenance dose of 300 mg given every six months for up to 18 months. With completion of one-year follow-up, safety data for inclisiran from the Phase II ORION-1 study now include 370 subject-years of observation, including at least 300 subject-years of inclisiran effects. As in prior analyses, no material safety issues were observed on inclisiran, which continued to demonstrate an adverse event profile similar to placebo. There were no deaths or serious adverse events during the extended observation period. In particular, in spite of the prolonged LDL-C lowering effects of inclisiran, there were no investigational drug-related elevations of liver enzymes and no neuropathy, change in renal function, thrombocytopenia or anti-drug antibodies during extended follow-up, or at any earlier time periods in the ORION-1 study. The extended observation also demonstrated that, after nine months, with no further inclisiran treatment, LDL-C returns towards pre-treatment levels in a near-linear manner. This observation also supports dose planning for further trials. One-year ORION-1 data reaffirm inclisiran's potential to address unmet needs with a highly-differentiated, infrequent, low-volume dosing regimen of two injections per year.

07:02 EDT AstraZeneca announces FDA expands approval of Faslodex in breast cancer - AstraZeneca announced that the U.S. FDA has approved Faslodex 500mg as monotherapy for expanded use in women with hormone-receptor positive, human epidermal growth factor receptor 2 negative advanced breast cancer, who have gone through menopause and have not received previous endocrine therapy.

07:01 EDT BioTime to present data at MHSRS on lead programs - BioTime announced that it will be presenting one podium presentation and two abstracts at the Military Health System Research Symposium August 27-30, 2017 in Washington, D.C. BioTime has recently released data from its two lead programs in medical aesthetics and ophthalmology and is now exploring ways to address serious unmet needs for trauma and combat-related injuries. The podium presentation and two abstracts include: The podium presentation titled, "Restoring Light Perception with Retinal Tissue Grafting Derived from Human Pluripotent Stem Cells" will be presented by Dr. Igor Nasonkin, BioTime's head of research, on Monday, August 28th during the Medical Advancements in Operational and Clinical Vision Protection and Treatment session. This presentation outlines the potential use of BioTime's pluripotent cell technology to help the body restore vision following blast exposure. The preclinical study demonstrates positive results following grafting of these cells into sub-retinal tissue, as well as improvement in tracking vision over an eight month period. The abstract titled, "Repair of Trauma-Induced Subcutaneous Contour Defects Using Autologous Adipose Derived Stem Cells Implanted in Renevia(R) Hydrogel Matrix" will be presented by Dr. Thomas Zarembenski, BioTime's head of external R&D, on Tuesday, August 29th during the Head, Neck & Facial Trauma/ Otolaryngology & Plastic Surgery Demo session. This abstract describes safety data following the use of Renevia in facial contour defects as a result of trauma. The abstract titled, "Vision Preservation Following Blast Injury Through Continuous Paracrine Delivery of Trophic Factors to Degenerating Optic Nerve and Retina" will be presented by Dr. Nasonkin, on Tuesday, August 29th during the Medical Advancements in Operational and Clinical Vision Protection and Treatment session. This abstract outlines two methodologies used to differentiate pluripotent cells, followed by their implantation in mouse models with degenerating optic nerve and retinal tissue. The study demonstrates successful, tumor-free integration with retinal tissue, which is expected to slow, halt or improve vision degeneration over time.

06:50 EDT Altisource, New Residential announce cooperative brokerage agreement - New Residential (NRZ, together with its subsidiaries, and Altisource Portfolio Solutions (ASPS), together with its subsidiaries, announced that New Residential and Altisource entered into an 8-year Cooperative Brokerage Agreement, pursuant to which Altisource's licensed real estate brokerage subsidiaries will exclusively provide marketing and listing services for real estate owned properties included in certain portfolios of mortgage loans for which New Residential has acquired, or will acquire, the mortgage servicing rights. The Cooperative Brokerage Agreement includes the following key terms: The MSR portfolios covered by the agreement include (i) an approximately $110B UPB non-agency MSR portfolio that New Residential agreed to acquire from certain subsidiaries of Ocwen Financial Corporation in July 2017, and (ii) an approximately $6B UPB non-agency MSR portfolio that New Residential agreed to acquire from certain subsidiaries of PHH Corporation (PHH) in December 2016. Altisource's licensed real estate brokerage subsidiaries will begin to receive REO referrals under the agreement as the MSR portfolios transfer to New Residential.(3) New Residential's licensed real estate brokerage subsidiary will receive a referral commission for each REO sold by Altisource on its behalf. The agreement includes termination events, vendor oversight and audit rights and reporting requirements, and provisions designed to ensure pricing for REO marketing and listing services remains competitive throughout the term of the contract. In addition to the Cooperative Brokerage Agreement, New Residential and Altisource have entered into a letter of intent pursuant to which New Residential and Altisource agreed to negotiate, in good faith, a definitive services agreement under which Altisource would be the exclusive provider of certain fee-based services with respect to the Ocwen Portfolio (OCN). Pursuant to the letter of intent, New Residential and Altisource have also committed to work together to seek further opportunities to expand their relationship.

06:38 EDT Denbury Resources reports impacts associated with Tropical Storm Harvey - Denbury Resources announced that due to conditions associated with now Tropical Storm Harvey, effective Sunday, August 27, the Company suspended operations and temporarily shut-in all production at its Houston area fields, representing net production of approximately 16,000 barrels of oil equivalent per day. The impacted fields include Hastings, Oyster Bayou, Conroe, Thompson, Webster and Manvel. While no significant damage outside of localized flooding has been reported at any of these fields, the full impact of the storm may not be determined for several days as we have evacuated our employees and contractors as a precautionary measure.

06:32 EDT Forum Energy acquires remaining membership interests in Global Tubing - Forum Energy announced that it signed a definitive agreement to acquire the membership interests in Global Tubing from its joint venture partner Quantum Energy Partners. As part of the transaction, Forum will also acquire management's interest in the joint venture and repay Global Tubing's net debt. The aggregate transaction value is approximately $237M, including the issuance of 10M shares of Forum common stock to Quantum, cash from Forum's existing bank credit facility and cash on hand. Located in Dayton, Texas, Global Tubing provides coiled tubing, coiled line pipe and related services to customers worldwide. Completion of the transaction is subject to regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur in the third quarter 2017. Cris Gaut, Forum's Executive Chairman of the Board, commented, "The acquisition of the remaining Global Tubing interests will have significant benefits for Forum's current shareholders, including Global Tubing's strong free cash flow and high operating margins. In 2014, Global Tubing had EBITDA of approximately $60 million. We believe that with the additional products Global Tubing now offers, and based on the current outlook, the 2014 run rate can be achieved during 2018. We expect the acquisition to be more than 25% EPS accretive in 2018, based on current analyst consensus estimates. Although the acquisition of Quantum's interest in Global Tubing will bring an end to our successful joint venture, we are very pleased that Quantum will continue to partner with Forum in a new way, as a major, direct shareholder in the company. We appreciate Quantum's confidence in Forum and our strategy."

06:11 EDT Hercules Capital's Solar Spectrum completes merger with Horizon Solar Power - Hercules Capital congratulates Solar Spectrum on its recently completed merger with Horizon Solar Power, of Temecula, California. Since 2008, Horizon Solar has served as a premier designer and installer of residential and commercial solar systems in Southern California. The merger of Solar Spectrum and Horizon Solar will create the second largest provider of residential solar systems in California and the fourth largest in the United States. Residential solar power generation is a $9 billion annual industry with a total addressable market in the United States of $800B. Solar Spectrum and Horizon Solar will operate under the Sungevity brand. The merger was orchestrated by Solar Spectrum's shareholders led by Northern Pacific Group which is based in Wayzata, Minnesota. The transaction closed on August 17. Following the transaction, Solar Spectrum's shareholder group includes Northern Pacific Group, International, Hercules Capital, DGB Investments, Bindley Capital and the management teams of Horizon Solar and Solar Spectrum. Hercules Capital provided senior debt financing. Terms of the transaction were not disclosed.

06:06 EDT W.R. Grace to acquire Evonik dental silica, Huber defoamer product lines - W. R. Grace announced that it has entered into a definitive agreement to acquire certain assets from Evonik Industries on September 5, following the close of Evonik's acquisition of J.M. Huber Corporation's silicas business. The assets to be acquired by Grace include trademarks and licenses to produce and sell Evonik's SIDENT dental precipitated silica product range and J.M. Huber Corporation's defoamer and anti-caking product ranges, branded in the European Economic Area as Zeofoam and Zeoflo, with worldwide product sales rights. Terms were not disclosed. The transaction will not change Grace's 2017 outlook as of July 27.

06:03 EDT Littelfuse to acquire IXYS in cash and stock transaction - Littelfuse (LFUS) and IXYS (IXYS) announced that they have entered into a definitive agreement under which Littelfuse will acquire all of the outstanding shares of IXYS in a cash and stock transaction. The transaction represents an equity value of approximately $750M and enterprise value of $655M. Under the terms of the agreement, each IXYS stockholder will be entitled to elect to receive, per IXYS share, either $23.00 in cash or 0.1265 of a share of Littelfuse common stock, subject to proration. In total, 50% of IXYS stock will be converted into the cash election option and 50% into the stock election option. IXYS is a global pioneer in the power semiconductor and integrated circuit markets with a focus on medium to high voltage power control semiconductors across the industrial, communications, consumer and medical markets. IXYS has a broad customer base, serving more than 3,500 customers through its direct salesforce and global distribution partners. IXYS reported revenues of $322M in its fiscal 2017 with an adjusted EBITDA margin of approximately 13.5%. The transaction is expected to be immediately accretive to Littelfuse's adjusted earnings per share and free cash flow in the first full year post transaction close, excluding any acquisition and integration related costs. Littelfuse expects to achieve more than $30 million of annualized cost savings within the first two years after closing the transaction. Longer term, the combination is also expected to create significant revenue synergy opportunities given the companies' complementary offerings, as well as benefits from future tax rate reduction. In conjunction with the definitive agreement, Dr. Nathan Zommer, IXYS founder and currently the company's largest stockholder with approximately 21% ownership, has entered into a voting and support agreement. Subject to the agreement's terms and conditions, he has agreed to vote his shares in favor of the transaction. After close of the transaction, Dr. Zommer is expected to join Littelfuse's Board of Directors, subject to the board's governance and approval process. His technical skills and extensive experience across the semiconductor industry will benefit the combined company with its integration efforts, innovation roadmap and revenue expansion. The transaction is expected to close in the first calendar quarter of 2018 and is subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by IXYS stockholders. Littelfuse expects to finance the cash portion of the transaction consideration through a combination of existing cash and additional debt.

06:01 EDT Littelfuse to acquire IXYS in cash and stock transaction

05:53 EDT GE's Immelt says won't pursue leadership position at Uber - Jeff Immelt said in a tweet, "I have decided not to pursue a leadership position at Uber. I have immense respect for the company & founders - Travis, Garrett and Ryan." Reference Link

05:43 EDT Vulcan Materials agrees to acquire Polaris Materials - Vulcan Materials announced that it has reached a definitive agreement to acquire Polaris Materials, an aggregates and logistics company, which serves key California markets from strategically situated operations in British Columbia. The Polaris business includes a high capacity aggregates processing plant and deep water port on Vancouver Island along with associated long term aggregate reserves and five distribution yard outlets in the San Francisco Bay Area and in Long Beach, California. "We are very pleased to have reached agreement to acquire Polaris Materials, which is expected to further enhance our ability to serve major California markets," said Vulcan's Chairman and CEOTom Hill. "With this acquisition, we are continuing to build on our industry-leading position in the state of California. Polaris has assembled high quality aggregate reserves that will further expand our product offerings, particularly for certain concrete applications, as well as our geographic coverage in markets in the San Francisco and Los Angeles metro areas. This acquisition will enhance our logistics capabilities with the ship delivery of aggregate products and provide Vulcan with a platform for future distribution outlet opportunities along the Pacific Coast. The acquisition is especially timely given California's recent passage of SB1, which will provide $52B for key transportation infrastructure projects over the next ten years, in addition to passage of local ballot measures that add more than $1B annually for infrastructure projects in key growth markets that we serve." The transaction will be subject to approval by Polaris Materials' securityholders, approval by the Supreme Court of British Columbia, and other customary closing conditions. Subject to obtaining the required approvals, the transaction is expected to complete in Q4.