Stockwinners Market Radar for September 11, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:44 EDT Banc of California CEO buys 57,000 common shares - In a regulatory filing, Banc of California president and CEO Douglas H. Bowers disclosed the purchase of 57,000 common shares of the company at a price of $17.56 per share.

18:35 EDT Procter & Gamble CEO: Nelson Peltz not the right person for P&G right now - Says Peltz has proposed some things that can hurt the company in the near term. David Taylor is speaking on CNBC.

18:07 EDT Diplomat Pharmacy completes acquisition of Focus Rx - Diplomat Pharmacy has completed its acquisition of Focus Rx Pharmacy Services, a specialty and infusion pharmacy with two locations in New York state. Focus Rx is expected to generate approximately $47M in revenue and $3M in adjusted EBITDA for the full year 2017. Harbor Healthcare Consultants, a boutique investment banking firm, assisted Focus Rx as their exclusive advisor.

17:44 EDT Western Digital jumps after Nikkan says Toshiba to sell chip unit to alliance - Shares of Western Digital are up 4.56% to $91.39 per share.

17:16 EDT Macquarie Infrastructure names Christopher Frost president, COO - Macquarie Infrastructure Corporation, or MIC, announced that Christopher Frost has been appointed president and chief operating officer of the company effective on or before October 31, 2017. James Hooke, chief executive officer of the company, is joining the MIC board of directors and plans to step down as CEO early in 2018. The company anticipates appointing Frost to the position of CEO following Hooke's resignation. Frost has been with Macquarie for over 20 years and has served since 2015 as MIRA's Chief Commercial Officer.

17:05 EDT NextDecade names Matt Schatzman president - NextDecade Corporation (NEXT) announced that Matt Schatzman has been appointed to the newly created position of president. In this role, Schatzman will report to chairman and CEO, Kathleen Eisbrenner and will strengthen NextDecade's management team as it works towards positive final investment decisions on the Rio Grande LNG and Rio Bravo Pipeline projects. Schatzman was Executive Vice President Global Energy Marketing and Shipping and a member of the Group Executive Committee at BG Group (BRGYY).

17:02 EDT CubeSmart: All 104 stores in Florida closed on Sunday due to Irma - CubeSmart announced that due to the impact of Hurricane Irma, all of its 104 owned and managed stores in the State of Florida were closed on Sunday out of concern for customer and employee safety. As the situation is still unfolding and most of the state is without power, the full impact of the storm is unknown at this time. As of this afternoon, the company has reopened 22 stores representing a total of 1.8M net rentable square feet and 18,300 units, primarily in southern Florida markets where the storm first made landfall. Eighty-two CubeSmart stores, representing 5.7M net rentable square feet and 54,500 units, remain temporarily closed. The company plans to reopen the stores as quickly as possible when the properties are deemed safe for operation. In the greater Houston area, 50 of the 52 stores owned and managed by CubeSmart are open for normal business.

16:55 EDT Highbridge reports 13.6% stake in A. M. Castle - On August 31, A. M. Castle and certain of its direct subsidiaries emerged from bankruptcy pursuant to a joint prepackaged plan of reorganization under chapter 11 of the United States Bankruptcy Code. In connection with the Reorganization and pursuant to the Plan, Highbridge received 398,005 shares of common stock and $34,251,356 aggregate principal amount of A. M. Castle's 5.00% / 7.00% Convertible Senior Secured PIK Toggle Notes due 2022 in respect of claims with respect to $54,195,672 aggregate principal amount A. M. Castle's 12.75% Senior Secured Notes due 2018.

16:41 EDT Sterling Construction awarded $26M road project in Frisco, Texas - Sterling Construction Company announced that its Texas Sterling Construction Co. subsidiary is the apparent low bidder on a $26.6M project in Frisco, Texas. The City of Frisco Main Street project consists of widening a three mile section of Main Street from FM 423 to Dallas Parkway from four lanes to six lanes, while also improving the road's storm drainage. In addition, the project includes all the preliminary infrastructure required for future underground electric transmission lines as well as over 14,000 linear feet of water distribution lines. The project is scheduled to begin later this month, and is expected to be completed by the spring of 2019.

16:32 EDT Franklin Resources reports preliminary AUM $747.4B as of August 31 - Franklin Resources reported preliminary month-end assets under management of $747.4B at August 31, compared to $752.7B at July 31.

16:31 EDT Sealed Air to acquire Fagerdala Singapore for about $100M in cash - Sealed Air announced the acquisition of Fagerdala Singapore Pte Ltd., a manufacturer and fabricator of polyethylene foam. Sealed Air will acquire 100% of Fagerdala shares for approximately $100M in cash. The sale is expected to close in October of 2017. Fagerdala, established in 1983 with headquarters in Singapore, has 14 manufacturing facilities, employs more than 1,300 people in China, Thailand, Singapore, Malaysia, Mexico and the United States, and generated $80M in sales in 2016. Sealed Air plans to leverage Fagerdala's manufacturing footprint in Asia, expertise in foam manufacturing and fabrication, and commercial organization to grow sales in the consumer electronics, medical equipment and devices, automotive, temperature assurance, and e-commerce fulfillment sectors.

16:25 EDT Rivernorth Capital reports 11.25% passive stake in Andina Acquisition

16:24 EDT DASAN Zhone announces CEO, CFO transition - DASAN Zhone Solutions announced management transition changes in connection with the first anniversary of the merger with Dasan Network Solutions, and the progress successfully attained in the integration of the businesses of legacy Zhone and DNS. The legacy Zhone senior management team of James Norrod and Kirk Misaka have been serving as co-CEO and CFO, respectively, under one-year employment agreements to ensure a smooth transition and integration of the businesses of legacy Zhone and DNS. Given the successful integration over the past year, the board of DZS has agreed with Norrod and Misaka that they will step down from these positions on September 11. Il Yung Kim, who, together with Norrod, has served as co-CEO of DZS since the merger, will continue to serve as the CEO of DZS and has been appointed acting CFO pending the appointment of a successor CFO, effective September 11.

16:20 EDT Miragen Therapeutics presents new MRG-201 preclinical data for inhaled MicroRNA - Miragen Therapeutics announced new preclinical safety and feasibility data on inhaled delivery of MRG-201, a microRNA-29 mimic, which Miragen plans to evaluate for the potential treatment of pulmonary fibrosis. MicroRNA mimics are molecules intended to replace the native microRNA and re-establish gene expression control over pathway biology. By normalizing the level of microRNA-29, MRG-201 may be able to normalize uncontrolled fibrotic tissue deposition which is a hallmark of pulmonary fibrosis. The inhalation data is being presented at the European Respiratory Society International Congress in Italy. Miragen's new preclinical data builds upon previous observations on systemically administered microRNA-29 mimic in the bleomycin-induced pulmonary fibrosis in mice. To more effectively assess accurate dose, compound integrity, particle size, and exposure, the company utilized a nose-only inhalation exposure system with Lovelace Biomedical Research Institute in this study. MRG-201 was nebulized with its chemical integrity maintained, and may be administered via nose-only inhalation to rats. Exposure to lung tissue after inhalation was high while distribution to tissues tested beyond the lung was minimal, suggesting a potentially effective localized effect and limited systemic impact. Following multiple administrations, aerosolized MRG-201 at 1.0mg/kg was observed to result in down-regulation of intended target genes important in fibrotic tissue deposition induced by bleomycin in rats. MRG-201 is designed to mimic the activity of microRNA-29 and decrease the expression of collagen and other proteins that are involved in fibrous scar formation. Miragen believes the results from its Phase 1 clinical trial of MRG-201 in induced cutaneous fibrosis, which demonstrated the potential ability of the product candidate to control fibrogenesis in humans, may provide support for the therapeutic approach in other pathological fibrotic conditions.

16:18 EDT Mercury Systems receives $8M order for BuiltSECURE memory devices - Mercury Systems announced it received a $8.0M order from a leading defense prime contractor for BuiltSECURE high density secure memory devices manufactured at its DMEA-trusted facility in Phoenix, Ariz. The high-speed memory devices will be integrated into active electronically scanned array radar systems deployed on an advanced airborne military platform. The order was booked in the company's FY18 Q1 and is expected to be shipped over the next several quarters.

16:16 EDT ArrowMark Colorado reports 10.6% passive stake in Multi-Color

16:09 EDT Cormorant Asset Management reports 5.3% passive stake in Ignyta

16:07 EDT Kratos unmanned aerial drone systems 'successfully' completes missions - Kratos Defense & Security Solutions announced that its Unmanned Systems Division, USD, recently successfully completed multiple missions with a number of its high performance jet powered unmanned aerial drone systems, UAS, for a national security related customer. These successful missions are part of a series of performance demonstrations to be completed prior to delivery and acceptance of 10 USD UAS, which is expected to occur in the next six months. Work under this contract is performed at secure Kratos manufacturing facilities and other locations. Kratos' USD is a leading provider of high performance, jet powered UAS for tactical and target missions. Due to competitive, customer related and other considerations, no additional information will be provided related to this customer program.

16:06 EDT Zayo Group names Matt Steinfort CFO - Zayo Group Holdings announced that it has appointed Matt Steinfort as chief financial officer, effective September 15, 2017. Steinfort will report to chairman and CEO Dan Caruso. Ken desGarennes will remain through the company's second fiscal quarter form 10-Q filing in February of 2018 to ensure an orderly transition. Steinfort joined Zayo as executive vice president, Corporate Strategy, Development, & Administration in November 2016.

16:03 EDT Amgen announces results from Phase 3 ARCH study - Amgen and UCB announced detailed results from the Phase 3 ARCH study showing that 12 months of EVENITY followed by alendronate was superior in reducing new vertebral, clinical, non-vertebral and hip fracture risk in postmenopausal women with osteoporosis at high risk for fracture, compared to alendronate alone. Overall adverse events and serious adverse events were generally similar between the treatment groups with the exception of the previously reported imbalance in positively adjudicated cardiovascular serious adverse events. The results were simultaneously published in the New England Journal of Medicine and presented today as a late-breaking abstract at an oral scientific session at the Annual Meeting of the American Society for Bone Mineral Research in Denver. The study found that through 24 months, postmenopausal women with osteoporosis in the EVENITY treatment group experienced a statistically significant 48% relative reduction in the risk of a new vertebral fracture compared with those receiving alendronate alone (6.2% versus 11.9%, respectively [pless than0.001]). At primary analysis, women in the EVENITY treatment group also experienced a statistically significant 27% relative reduction in the risk of clinical fracture, which includes non-vertebral fracture and clinical vertebral fracture (9.7% versus 13%, respectively [pless than0.001]).

15:47 EDT P&G moves higher amid back and forth between company and activist Peltz - Shares of consumer goods giant Procter & Gamble (PG) are up after Nelson Peltz and his Trian Fund spoke earlier at an investor conference to discuss the white paper that Trian released last week: TRIAN'S WHITE PAPER: On September 6, activist investor Trian, which has significant investments in General Electric Company (GE), Mondelez (MDLZ), BNY Mellon (BK), and Sysco (SYY), released a 93 page report, or white paper, on its perspective on how Trian and Peltz intend to help P&G regain market share and why it's critical to have Nelson Peltz elected to the P&G board. Trian said that P&G's total shareholder return over the past decade has lagged both its peers and the S&P 500 and that it is still "suffering" from the same factors that have led to "consistent underperformance," including eroding market shares, aging brands and a suffocating bureaucracy that Trian believes creates profit-reducing complexity, obscures accountability, slows decision-making and impedes sales growth. Trian said that, with Nelson Peltz on the P&G board,d the company can regain lost market share through organizing in a way that promotes accountability. Trian, which owns approximately $3.5B in P&G shares, said the company should be organized into three autonomous business units: Grooming and Healthcare, Fabric and Home Care, Baby, Feminine and Family Care. P&G SAYS PELTZ VIEW FLAWED: Earlier today, P&G reiterated its beliefs on Peltz's view of the company as "flawed," and "outdated." "Today's P&G is well positioned with the right plan, the right structure and the right Board in place to deliver results and shareholder value for the short-, mid- and long-term...We firmly believe now is not the time to risk derailing our progress by adding Trian's Mr. Peltz to the P&G Board. Mr. Peltz's flawed suggestions and outdated views underscore his fundamental misunderstanding of the P&G of today," said P&G CEO David Taylor. TRIAN'S LATEST COMMENTS: Earlier in the day, in a conference call explaining the white paper, Peltz reiterated his earlier statements on the importance of market share growth for a consumer goods company. While overlaying his previous comments on the insularity of P&G, the activist investor said that market share growth is more important than earnings per share, pointing out how Amazon (AMZN) has done well with its focus on market share, rather than EPS. Additionally, Peltz noted on the call the paramount importance of digital to aid in growth. He also noted that Trian "has a long list of nots," and went on to explain that he does not want to break-up the company, nor leverage up the balance sheet or cut the dividend. Peltz also said he does not intend to get rid of the company's CEO David Taylor. PRICE ACTION: Procter & Gamble is up 1.27% to $94.02 per share in late day trading.

15:40 EDT Gigamon not commenting on report of buyout offer from Elliott Management - Contacted by The Fly following media reports saying Elliott Management's private equity arm has submitted a bid to acquire the company, a spokesperson for Gigamon said "as a matter of company policy, we do not comment on market rumors or speculation." In afternoon trading, shares of Gigamon have gained almost 4% to $43.95.

15:12 EDT Gigamon jumps after report of buyout offer from Elliott Management

14:40 EDT Sinclair Broadcast, CBS announce affiliation agreement renewals - CBS Corporation (CBS) and Sinclair Broadcast Group (SBGI) announced a multi-year deal that renews three station affiliation agreements that were set to expire at the end of 2018. Additionally, CBS also renewed an affiliation that was set to expire at the end of 2018 with a station that Sinclair provides sales and other services to under a joint sales agreement. The four agreements have been renewed to be co-terminus with the four CBS affiliations which were renewed earlier this year. The four renewed markets serve approximately 1.5M households, Sinclair Broadcast noted.

14:39 EDT Vertex down 1.5% in afternoon trading

14:02 EDT Alaska Air reports combined August traffic increase of 5.8% - Alaska Air Group reported August operational results on a consolidated basis for its mainline operations operated by subsidiaries Alaska Airlines and Virgin America and for its regional flying and third-party regional carriers. On a combined basis for all operations, Air Group reported a 5.8% increase in traffic on a 5.5% increase in capacity compared to August 2016. Load factor increased 0.4 points to 86.2%.

13:55 EDT Before the Move: Watch Apple ahead of iPhone X launch - Apple (AAPL) is expected to unveil the highly anticipated iPhone X tomorrow along with other new versions of its flagship mobile device. Commenting on the tech giant's event, RBC Capital analyst Amit Daryanani told investors that it may surpass expectations. Meanwhile, his peer at JPMorgan argued that he expects the OLED based iPhone X to become available in October as Apple begins volume production in September. APPLE EVENT: On Tuesday, September 12, Apple is expected to unveil its much anticipated 10th anniversary iPhone. According to a leak over the weekend, the new device will be called the iPhone X and will include wireless charging, facial recognition, edge-to-edge display and no home button. Alongside the iPhone X, Apple is expected to release two other phones, namely the iPhone 8 and iPhone 8 Plus. Many also expect to see a third generation of the Apple Watch and a 4K Apple TV. EVENT MAY TOP EXPECTATIONS: RBC Capital's Daryanani told investors that Apple's event tomorrow could surpass investors' expectations, particularly as some of the new iPhone features are demonstrated live. The analyst noted he believes the next generation flagship iPhone will feature a brand new form factor with an OLED display that spans edge-to-edge, upgraded A11 processors, wireless/inductive charging capability, a virtual home button embedded in the display, a 3-D facial recognition sensor for the front-facing camera, an augmented reality enabled rear-facing vertical dual lens camera, glass front and back with stainless steel edges, 3GB of RAM, 64GB and 256GB storage tiers, and improved water resistance. Additionally, Daryanani expects Apple to introduce two new LCD iPhones, with pricing for the OLED device to start at $999 while the LCD models should be priced similarly to the current 7/7-plus. Alongside the new iPhones, Apple should also introduce a new Apple Watch with a cellular connection and a new TV product in addition to software updates for each device announced, he contended. The analyst reiterated an Outperform rating and $180 price target on the shares. OLED IPHONE AVAILABLE IN OCTOBER: In a research note of his own, JPMorgan analyst Rod Hall told investors he currently expects the OLED based iPhone X to become available in October as Apple begins volume production in September. The specific week of October that the device begins shipping will have a few million units of impact on the December earnings forecasts, Hall noted, adding that the risk to earnings estimates is relatively small heading into the event. The analyst pointed out that he estimates the 256GB version will cost $1,100, while the LCD models' pricing should be similar to the iPhone 7 models. The analyst also believes that the most important thing Apple is likely to say about the Apple TV financially relates to the content available on the device, as he is expecting Amazon (AMZN) Prime Video to finally become available. While the Apple Watch update that has been reported including LTE should be a small incremental positive, it is unlikely to move numbers, he added. Hall reiterated an Overweight rating on Apple's shares. PRICE ACTION: In afternoon trading, shares of Apple have gained about 2% to trade near $161.50. Year-to-date, Apple shares have risen nearly 40%. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

13:52 EDT Osmium: Diverseicare should boost dividend to $1.00 per share from 22c - Osmium sent a letter to Diversicare's board of directors suggesting a strategy to close the gap between public market prices and what the business would be worth when valued from many angles and "dramaticall" increase shareholder value from current prices. Osmium said it believes that fair value for Diversicare shares is in the $17-$25 range, as opposed to the $9.40 market price and said it believes the company should increase its dividend from 22c per share to $1.00, an incremental cost of $5M per year. "Diversicare is in an unusual situation with a mix of strong growth metrics combined with a low valuation," Osmium said. "The lack of analyst coverage and aggressive reinvestment into the core business, combined with low trading volumes that discourage investment currently explain why Diversicare trades at a deep discount."

13:49 EDT T. Rowe Price reports 16% passive stake in Ranger Energy

13:45 EDT Georgia Power: Over 410,000 customers without power due to Irma - Hurricane Irma arrived in Georgia overnight and is already impacting service to Georgia Power customers. The company is prepared to respond with approximately 3,400 personnel from the company, other Southern Company operating companies and assisting utilities identified and ready to restore power as quickly and safely as possible following the storm. All of Georgia Power's resources are being held and dedicated to storm restoration efforts in the state following Hurricane Irma. Georgia Power expects widespread, extensive damage due to high winds, heavy rain and fallen trees as a result of Hurricane Irma. Once the storm leaves affected areas, the company must wait until conditions are safe for damage assessment teams to enter the field and begin the restoration process, followed by repair crews, which could take several days, if not weeks, depending on the amount of damage and safe access to the area. As weather conditions improve, restoration efforts will accelerate, but it could take an extended period of time for all customers to be restored. As of 1 p.m. Monday, there are more than 410,000 customers without power in Georgia and more than 3,600 individual cases of damage the company is working to repair.

13:37 EDT Osmium takes activist stake in Diversicare, calls for dividend increase

13:35 EDT WellCare: Tampa-area facilities raemain operational, facing minimal interruption - WellCare Health Plans announced that, after activating its emergency business continuity plan ahead of Hurricane Irma's arrival in Florida, its Tampa-area facilities remain operational and the company is facing minimal interruption in business in serving its 4.4 million members.

13:18 EDT HP Enterprise CEO Meg Whitman joining Dropbox board - Dropbox founder and CEO Drew Houston says in a blog post, "I'm delighted to welcome Meg Whitman to our Board of Directors. Meg is a true business titan and has been a trusted friend and advisor to me for years. Her experience and judgment will be invaluable to Dropbox as we continue to grow and scale." Whitman is the CEO of HP Enterprise. Reference Link

13:14 EDT BP moves forward with IPO for U.S. pipeline assets - BP announced that BP Midstream Partners LP, a wholly owned, indirect subsidiary of BP p.l.c, has filed a registration statement on Form S-1 with the U.S. SEC related to its proposed initial public offering of common units representing limited partner interests. The announcement comes after BP said in July it had begun evaluating the formation and IPO of a master limited partnership to enhance shareholder value and to support BP's strategy to grow its midstream business. BP Midstream Partners expects the offering to occur in the fourth quarter of 2017, dependent on market conditions, and anticipates the common units will trade on the New York Stock Exchange under the ticker symbol "BPMP." BP Midstream Partners' initial assets are expected to consist of ownership interests in one onshore crude oil pipeline system, one onshore refined products pipeline system, and one onshore diluent pipeline system, which carry shipments to or from BP's Whiting Refinery in Whiting, Indiana, together with interests in four offshore crude oil pipeline systems and one offshore natural gas pipeline system that connect offshore production areas in the Gulf of Mexico with the Gulf Coast refining and distribution hubs. If the IPO is completed, BP would own the general partner of BP Midstream Partners, all of its incentive distribution rights and a majority of its limited partner interests. Citigroup, Goldman Sachs and Morgan Stanley are acting as book-running managers, and Citigroup is acting as structuring agent for the proposed offering.

12:47 EDT comScore plunges after CFO leaves, restatement delay, amid Starboard pressure - Earlier today, comScore announced its board has formed a special committee composed of two of the recently appointed independent directors: Jacques Kerrest and Sue Riley. In connection with its mandate, the special committee unanimously recommended a refreshment of the board and its membership. Following this recommendation, directors William Engel, Russell Fradin, Lisa Gersh, Mark Harris, William J. Henderson, Ronald J. Korn and Joshua Peirez have each made a determination to depart from the company's board. Lisa Gersh, Mark Harris and Joshua Peirez were original members of the special committee of the comScore board of directors and supported the special committee's recommendations to refresh the board. Their departures from the board were individual decisions and not requested by the special committee. As a result of these departures, the size of the board has been reduced to five and is now composed of the following directors: Gian Fulgoni, CEO, Jacques Kerrest, Bill Livek , president and executive vice chairman, Sue Riley and Brent Rosenthal. The special committee is authorized to oversee the engagement process with Starboard Value LP, a 4.9% stockholder. The company also announced today that the board has appointed David Kay, co-founder and managing partner of CrossCountry Consulting, as Interim CFO and Treasurer of the company, effective immediately. Mr. Kay succeeds David Chemerow, who resigned as CFO and Treasurer on September 8 to pursue other opportunities. While the company has made substantial progress and has achieved a number of key milestones, the restatement process and related audits have been more complex and time-consuming than previously anticipated. There are several areas that have required significantly more work than originally expected, including determining the adjustments for monetary transactions. The accounting for the company's thousands of customer contracts can be complex and the process is compounded by there being a large number of small dollar contracts. completing this review has required significantly more time than was originally projected. comScore also announced that it has successfully reached agreement on proposed settlement terms in several pending class action and derivative legal proceedings. comScore has reached a proposed settlement, subject to court approval, to settle the consolidated securities class action pending against the Company and certain current and former directors and officers of the Company in Fresno County Employees' Retirement Association, et. al. v comScore, Inc., et. al, in the U.S. District Court for the Southern District of New York. Under the terms of the proposed settlement, the stockholders in the class action will receive a total of $27.2M n cash and $82.8M in comScore common stock to be issued and contributed by comScore to a settlement fund to resolve all claims asserted against the Company. All of the $27.2M in cash would be funded by comScore's insurers. comScore may also fund all or a portion of the $82.8M with cash in lieu of comScore common stock. The proposed settlement further provides that comScore denies all claims of wrongdoing or liability. Shares of comScore are down 5.4% to $27.20 per share in afternoon trading.

12:36 EDT Nymox postpones September 16 AUA M meeting due to hurricane in Florida - Nymox Pharmaceutical said that the September 16 AUA Meeting in Amelia Island, Florida has been postponed due to the hurricane disaster in Florida. The company wishes the very best for all persons in harm's way and salutes the efforts of the thousands of people involved in helping others in these emergency conditions. The company will provide further information on other business communication initiatives in due course.

11:52 EDT Cohen & Steers reports 10.08% passive stake in Weingarten Realty

11:29 EDT Deutsche Bank confirms hiring BofA's Scott Van Bergh - Deutsche Bank (DB) announced the appointment of Scott Van Bergh as Vice Chairman of Americas Natural Resources Group. Van Bergh joins from Bank of America Merrill Lynch (BAC) where he has been since 2003, most recently as Vice Chairman of Global Energy Investment Banking.

11:06 EDT Avnet signs distribution agreement with Opulent Americas - Avnet announced the signing of a distribution agreement with Opulent Americas, part of Singapore-based Opulent Group. Effective immediately, Avnet's technical sales and field-based LED lighting experts will support customers using Opulent LED lighting modules, heat sinks and other integrated LED lighting components and systems for solid state lighting, automotive, horticulture and medical solutions.

11:01 EDT Battleground: Analysts clash on GrubHub outlook - Two research firms have published new notes with vastly differing views of the outlook for online food delivery service company GrubHub (GRUB). Credit Suisse downgraded the stock to Neutral from Outperform, citing what it sees as overly optimistic estimates of the profitability of its recent acquisitions. However, William Blair estimates that the company's stock could jump 75% through 2021. CREDIT SUISSE BEARISH: GrubHub recently acquired three companies: Foodler, OrderUp, and Eat24. GrubHub's stock "reflects an optimistic scenario for accretion from recent acquisitions," wrote Credit Suisse analyst Paul Bieber. The analyst estimated that the company's recent acquisitions could increase its earnings before interest, taxes, depreciation and amortization by $17M-$58M in 2018. At current levels, GrubHub's stock reflects the higher end of the range without factoring in the impact of "conservatism" by the company or the risk that it will not execute well, the analyst stated. He predicted that the company's EBITDA guidance would come in at the low end of his estimate in January. Among the factors that lead him to this conclusion are the costs of integrating Eat24 and his belief that GrubHub could invest some of the accretion from its acquisitions in marketing initiatives. Bieber believes that the stock's valuation is fair at current levels. He raised his price target on the name to $53 from $50. WILLIAM BLAIR BULLISH: Based on "a weighted bear/base/bull case valuation framework," analyst Ralph Schackart III estimated that GrubHub's stock could jump about 75% through 2021 to roughly $100 per share. He noted that his estimate assumes that the company will only have about a 5% share of all restaurant orders by 2022. Schackart believes that the original GrubHub business will receive 364,000 orders per day next year, while the companies it acquired will receive about 73,000 orders per day. The analyst kept an Outperform rating on the stock. PRICE ACTION: In morning trading, GrubHub slid about 1% to $55.57.

10:34 EDT NY Times in ageement to show exclusive NYC real estate listings - The New York Times announced that it will soon feature exclusive New York City residential listings in its Real Estate Section on NYTimes.com. The Times Company will also make exclusive New York City-based real estate listings free for brokers, a major shift in its traditional approach in which brokers paid to list properties on NYTimes.com's Real Estate section. The Times will utilize the Real Estate Board of New York's, REBNY, Residential Listing Service listing syndication program, which will allow for exclusive listings to be displayed on NYTimes.com. An exclusive listing is one in which a broker has an exclusive deal with the property's seller to represent that listing. Andy Wright, senior vice president, advertising, The New York Times Company, said, "New York City is home to the most lucrative, fast-paced and unpredictable real estate market in the world. For decades, buyers, brokers, developers and curious readers have turned to The Times to keep up with industry news, seek guidance on how to choose the best property and discover more about living here. Adopting REBNY's syndication feed means that our listings will be as comprehensive as our coverage, making The Times's Real Estate section the definitive source for everything you need to know about New York real estate." Reference Link

10:01 EDT AbbVie notes two deaths reported during SELECT-BEYOND study - As previously reported, AbbVie announced top-line results from the Phase 3 SELECT-BEYOND clinical trial evaluating upadacitinib, an investigational oral JAK1-selective inhibitor, in patients with moderate to severe rheumatoid arthritis, or RA, who did not adequately respond or were intolerant to treatment with biologic DMARDs. During the placebo-controlled period, serious adverse events occurred in 5/7/0 percent of patients in the 15 mg/30 mg/placebo groups, respectively. There were two deaths reported during the study.1 One was a patient in the 15 mg dose group with cause of death unknown. The second was a patient in the 30 mg dose group who presented with fever and diarrhea, subsequent heart failure and presumed pulmonary embolism during hospitalization. Inclusive of the case mentioned above, a total of two cases of PE and no deep vein thrombosis were reported during the placebo-controlled period. In the previously reported Phase 3 SELECT-NEXT trial, no cases of DVT or PE occurred. Across the SELECT RA program, including both, the placebo-controlled and extension periods, the rate of DVT and PE remains consistent with the background rate for the RA patient population, the company stated.

09:36 EDT Shire says SHP616 significantly reduces hereditary angioedema in Phase 3 trial - Shire announced topline Phase 3 results for the SAHARA study, a global, multi-center, randomized, double-blind, placebo-controlled, partial crossover trial that evaluated the efficacy and safety of subcutaneously administered C1 esterase inhibitor Liquid for Injection, also referred to as SHP616 Liquid, versus placebo over two 14-week treatment periods in patients 12 years of age or older with symptomatic Hereditary Angioedema. This study met its primary endpoint and all key secondary endpoints. The fixed 2000 IU dose, administered every three to four days as a single 4mL subcutaneous injection, led to a statistically significant and clinically meaningful reduction of 2.32 attacks/month in the mean HAE attack rate compared to placebo. In a commonly reported measure of effectiveness, SHP616 Liquid yielded a median HAE attack rate reduction of 79% from Day 0 or 85% from Day 14 compared to placebo. A total of 78% of patients' experienced 50% or greater reduction in HAE attack rate compared to placebo, and 38% of patients were attack free during their SHP616 Liquid treatment period, compared to 9% during the placebo period. The 75 patients randomized in this study were required to have at least two HAE attacks per month in the three consecutive months prior to screening, and were representative of the full HAE disease spectrum. The study was completed by 77% of patients in the crossover sequences and 87% in the active-only sequence. No treatment-related serious adverse events or deaths were reported.

09:27 EDT Jon Thomason to leave Oculus to join Uber's Advanced Technologies Group - Jon Thomason, the head of mobile and product at Facebook's Oculus, says in a social media post, "Effective today, I'm joining Uber to lead the software engineering team at Uber's Advanced Technologies Group. Uber ATG is developing (and in some cities, deploying) self-driving cars and trucks. Autonomous vehicles are the Great Unsolved Computer Science Problem and I look forward to digging in with the team at ATG. Of course, I'm sad to leave the talented team at Oculus, where I have spent the last year. I'll be cheering the team on from the sidelines as one of VR's biggest fans, and look forward to getting my hands on all the cool things they have in store for us." Reference Link

09:23 EDT Cousins Properties: No significant damage to Tampa, Orlando, Miami properties - Cousins Properties announced that its office properties located in Tampa, Orlando, and Miami incurred no significant damage as a result of Hurricane Irma.

09:18 EDT On The Fly: Pre-market Movers - HIGHER: ContraVir Pharmaceuticals (CTRV), up 14.2% after the FDA approved an Investigational New Drug Application in the U.S. for its lead HBV compound, TXL for the treatment of chronic hepatitis B... Teva (TEVA), up 13.6% after appointing Kare Schultz as CEO... Richmont Mines (RIC), up 10% after being acquired by Alamos Gold (AGI). LOWER: Achillion Pharmaceuticals (ACHN), down 21.6% after it received notice of termination of the worldwide license and collaboration arrangement on hepatitis C with Janssen Pharmaceuticals, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ)... Snap (SNAP), down 1.8% after being downgraded to Hold from Buy at Deutsche Bank... Apricus Biosciences (APRI), down 4.2% after announcing it raised $3.7M in a private placement.

09:08 EDT Merck updates data from Phase 3 study of KEYTRUDA - Merck announced results of the phase 3 KEYNOTE-040 trial investigating KEYTRUDA, the company's anti-PD-1 therapy, compared to standard treatment in patients with recurrent or metastatic head and neck squamous cell carcinoma with disease progression on or after platinum-containing chemotherapy. As previously disclosed, the study did not meet its pre-specified primary endpoint of overall survival. The findings include updated survival data showing a 19% reduction in the risk of death over standard treatment in the intent-to-treat population, with pre-specified p-value required for statistical significance of 0.0175, and a median OS of 8.4 months with KEYTRUDA compared to 7.1 months with standard treatment. KEYNOTE-040 is a randomized, multi-center, phase 3 study investigating KEYTRUDA as a monotherapy versus standard treatment in patients with recurrent or metastatic HNSCC. Data presented at ESMO are based on findings in the intent-to-treat population and include analysis of efficacy endpoints based on PD-L1 expression using two measurements: PD-L1 CPS greater than or equal to1 and PD-L1 TPS greater than or equal to50%. More than a third of patients in the intent-to-treat population went on to receive subsequent therapy, including 11 of 84 patients in the KEYTRUDA arm and 31 of 100 patients in the standard treatment arm who received subsequent treatment with an immune checkpoint inhibitor. Other subsequent treatments included chemotherapy, EGFR inhibitor, kinase inhibitor, other immunotherapy, and other treatments. Data show that in the intent-to-treat population, the median OS was 8.4 months with KEYTRUDA compared to 7.1 months with standard treatment; the 12-month OS rate was 37.3 percent with KEYTRUDA compared to 27.2% with standard treatment. Further analysis of the primary endpoint based on PD-L1 expression showed: In patients with PD-L1 CPS greater than or equal to1, the median OS was 8.7 months with KEYTRUDA and 7.1 months with standard treatment; the 12-month OS rate was 40.1% with KEYTRUDA compared to 26.7% with standard treatment. In patients with PD-L1 TPS greater than or equal to50%, the median OS was 11.6 months with KEYTRUDA and 7.9 months with standard treatment; the 12-month OS rate was 46.6% with KEYTRUDA compared to 25.8% with standard treatment. The overall response rate in the intent-to-treat population was 14.6% in the KEYTRUDA arm compared to 10.1% in the standard treatment arm. In patients with PD-L1 CPS greater than or equal to1, the ORR was 17.3% with KEYTRUDA compared to 9.9% with standard treatment. In patients with PD-L1 TPS greater than or equal to50%, the ORR was 26.6% with KEYTRUDA compared to 9.2% with standard treatment.The median progression-free survival was 2.1 months in the intent-to-treat population with KEYTRUDA and 2.3 months with standard treatment. In patients with PD-L1 CPS greater than or equal to1, the median PFS was 2.2 months with KEYTRUDA and 2.3 months with standard treatment. In patients with PD-L1 TPS greater than or equal to50%, the median PFS was 3.5 months with KEYTRUDA and 2.2 months with standard treatment. The safety profile of KEYTRUDA was consistent with that observed in previously reported studies. Treatment-related adverse events of any grade occurred in 155 patientsin the KEYTRUDA arm and 196 patients in the standard treatment arm. Across any arm, TRAEs with incidence of 10% or more included hypothyroidism, fatigue, diarrhea, rash, asthenia, anemia, nausea, mucosal inflammation, stomatitis, decreased neutrophil count and alopecia. Immune-mediated adverse events, any grade, occurring in the KEYTRUDA arm were hypothyroidism, pneumonitis, infusion reactions, severe skin reactions, hyperthyroidism, colitis, Guillain-Barre syndrome and hepatitis. Discontinuation due to TRAEs occurred in 15 patients in the KEYTRUDA arm and 12 patients in the standard treatment arm. Deaths due to treatment-related adverse events occurred in four patients in the KEYTRUDA arm and two patients in the standard treatment arm.

09:06 EDT AudioCodes selected by Portugal Telecom for multi-year SIP trunk project - AudioCodes announced that AudioCodes' Mediant multi-service business routers have been selected by Portugal Telecom for a large-scale, multi-year SIP trunk project. The project is part of Portugal Telecom's recent steps to implement its vision of transitioning to an all-IP infrastructure, an increasingly popular trend in the industry.

09:02 EDT Arthur J. Gallagher acquires Franklin-Case Agency, terms not disclosed - Arthur J. Gallagher & Co. announced the acquisition of Franklin-Case Agency in Flemington, New Jersey. Terms of the transaction were not disclosed. Franklin-Case Agency is a full-service property/casualty insurance agency offering commercial and personal coverages to clients throughout metropolitan New York and New Jersey.

09:01 EDT SolarEdge, LG Electronics debut joint smart module for North American market - SolarEdge Technologies and LG Electronics USA are debuting a joint smart module targeting the high-end residential and commercial PV rooftop markets in North America. On display at the 2017 Solar Power International trade show, the smart module solution, the first from the two powerhouses, is one of the most power-dense rooftop offerings on the market. It includes both add-on and embedded power optimizer options for both commercial and residential systems.

08:47 EDT Scientific Games announces agreement with Westgate Las Vegas Resort & Casino - Scientific Games announced an agreement to upgrade the comprehensive suite of casino management system products and devices at Westgate Las Vegas Resort & Casino. Additionally, the company will deploy its SG Universe product suite on Westgate Resorts' mobile and online.

08:35 EDT LiNiu Technology, PICC sign strategic cooperation agreement - LiNiu Technology Group announced that it has signed a three-year strategic cooperation agreement with The Peoples Insurance Company of China Limited's Guangzhou branch. Total gross written premiums for PICC in 2016 were approximately RMB439.8 billion. Within that total, gross written premiums from agriculture insurance were approximately RMB19.5B, and PICC also generated gross written premiums of approximately RMB36B from contracts written in Guangdong province. Through the agreement, the companies will work together to develop new insurance products tailored for farmers, rural residents and the agricultural industry that would help in solving the Three Rural Issues. Guangzhou LiNiu will also prioritize the promotion of PICC's insurance products to customers of its LiNiuYang trading platform, while PICC in turn will promote LiNiuYang's products, services and platform to its customers through brochures or booths in its branch offices. In addition, both companies will meet regularly and share knowledge and information to help improve their efficiency through enhanced risk management, information management and e-commerce development.

08:32 EDT Care Prevention Pharmaceuticals receives $9.5M in frunding from Sucampo - Cancer Prevention Pharmaceuticals announced it has received a total of $9.5M from its North America commercialization partner Sucampo Pharmaceuticals. Sucampo paid CPP $4.5M in option fees and invested $5M in CPP via a convertible note, all in accordance with the terms of the agreements that Sucampo and CPP entered into in January 2016. The payments were triggered by recent positive results from a planned interim futility analysis of CPP's pivotal Phase 3 trial, CPP FAP-310, evaluating CPP-1X/sul for adults with familial adenomatous polyposis. An Independent Data Monitoring Committee recently recommended continuation of the Phase 3 trial, which is fully enrolled and expected to be completed in 2018 unless there are extensions. The FDA and EMA both granted CPP-1X/sul orphan drug status for treatment of FAP.

08:32 EDT Gladstone Land acquires organic farm in Washington State for $9.5M - Gladstone Land announced that it has acquired a 746-acre organic farm in Walla Walla, Washington for $9.5M. Upon acquisition, Gladstone Land assumed a lease with a remaining term of six years with a leading farming operation that currently grows apples, wine grapes, and cherries on the farm.

08:30 EDT Immersion renews licensing agreement with Perfect World game studio - Immersion announced that it has renewed a licensing agreement with Perfect World, a Chinese game developer/publisher. Perfect World will expand adoption of Immersion's tactile feedback technology in the mobile version of its well-known action role-playing game, Torchlight.

08:29 EDT Citi CFO says dialogue with clients 'remains strong' in IB

08:26 EDT Catalyst Biosciences issued patents in Asia covering coagulation Factor IX - Catalyst Biosciences announced that it has been issued patents covering its coagulation Factor IX hemophilia product candidate from the State Intellectual Property Office, or SIPO, in the People's Republic of China, the Intellectual Property Office of Singapore, or IPOS, and the Taiwan Intellectual Property Office. The patents cover both modified Factor IX polypeptides and uses thereof, and build on the Company's extensive intellectual property portfolio.

08:19 EDT Atara receives 'positive' Health Canada regulatory feedback for ATA129 - Atara Biotherapeutics announced receipt of positive regulatory feedback from Health Canada for ATA129, the company's most advanced T-cell immunotherapy in development for the treatment of cancer patients with rituximab-refractory Epstein-Barr virus, or EBV, associated post-transplant lymphoproliferative disorder, or EBV-PTLD, following a hematopoietic cell transplant, or HCT, or solid organ transplant, or SOT. Based on feedback from a meeting with Health Canada's Biologics and Genetic Therapies Directorate, or BGTD, Atara plans to request advance consideration under the Notice of Compliance with Conditions, or NOC/c, policy for ATA129 in the treatment of patients with rituximab-refractory EBV-PTLD after HCT. A Notice of Compliance issued under the NOC/c policy is an authorization to market a drug in Canada with the condition that the sponsor undertake additional studies to verify the clinical benefit, and is analogous to a conditional marketing authorization in the EU. Consistent with Atara's previously communicated regulatory plan in Europe, the Canadian filing is expected to be based on results from the Phase 1 and 2 clinical studies conducted at Memorial Sloan Kettering Cancer Center and supported by available data from the company's planned MATCH and ALLELE Phase 3 studies, which are anticipated to be ongoing at the time of the NDS filing.

08:12 EDT Correction: Natus Medical to acquire neurosurgery assets from Integra

08:10 EDT SSI Partners with LiveRamp - SSI announced a relationship with LiveRamp, an Acxiom company and leading provider of omnichannel identity resolution. This partnership will facilitate better insights and more accurate targeting for digital ad campaigns, resulting in more effective campaigns and higher return on investment. As a result of this partnership, consumers will benefit from more relevant engagement that better serves their needs.

08:08 EDT Athenex enters into Grant Disbursement Agreement with Empire State Development - Athenex announced that it has entered into a Grant Disbursement Agreement with the New York State Urban Development Corporation, or Empire State Development, in which the State of New York will grant up to $200M to fund the construction of the state-of-the-art Dunkirk facility. The Agreement is in addition to a previous $25M ESD grant to fund construction of the facility, which Athenex is building to manufacture oral and sterile high potency drugs in a controlled environment for global distribution.

08:06 EDT Raytheon, Ducommun partner to build Naval Strike Missile fire control systems - Raytheon (RTN) has selected Ducommun (DCO) to build fire control systems for the Naval Strike Missile, or NSM, an advanced weapon that Raytheon is offering for the U.S. Navy's over-the-horizon requirement for its littoral combat ships and future frigates. The partnership will support manufacturing jobs at Ducommun's Berryville and Huntsville, Arkansas, operations. Work on the fire control systems is expected to begin in late 2017 at both the Berryville and Huntsville locations.

08:05 EDT Pulse reports withdrawal, planned resubmission of PulseTx 510(k) application - Pulse Biosciences announced that it has withdrawn its initial application to the United States Food and Drug Administration for 510(k) clearance of its PulseTxTM System. The voluntary withdrawal on September 8, 2017, was the result of the FDA's appropriate request for additional data that could not be provided within the Agency's 90-day review period that would have otherwise ended on September 10, 2017. Pulse Biosciences is committed to generating the requested data and analysis, and the company plans to submit the supplemental information in a subsequent 510(k) application in the coming months. "Over the past several months, we have been engaged in very productive and positive conversations with the FDA staff, and we remain confident in our ability to obtain a 510(k) clearance for the PulseTx System and more broadly for Nano-Pulse Stimulation," noted Darrin Uecker, Pulse Biosciences President and CEO.

08:04 EDT Titan International CEO says 'we respectfully disagree with court's ruling' - Titan International President and CEO, Paul Reitz, commented, "We respectfully disagree with the court's ruling and will appeal. Titan Tire and Dico did not intend to arrange for the disposal of hazardous substances when they engaged in arms-length transactions with a third-party on identical terms to other transactions the government admits were not improper. We further object to any suggestion that Titan Tire or Dico exposed the public to any environmental risk, as the government's own documents state that the actions in question 'did not likely result in a significant health threat.' We believe the court applied a more stringent standard to Titan Tire and Dico than has been applied to other companies in similar cases, and look forward to having the matter reviewed in the appellate court."

08:03 EDT American Tower, Philips form alliance to accelerate smart city transformation - American Tower Corporation (AMT) and Philips Lighting (PHG) announced an alliance to accelerate the digital transformation of urban spaces and the adoption of smart city services in the United States. The companies are developing a collocation ready, 4G/5G enabled LED smart light pole for use in roadways, streets and parking lots that will improve wireless broadband access in dense urban areas while also providing quality energy-efficient connected LED lighting.

08:01 EDT Endologix announce collaboration agreements with Japan Lifeline - Endologix announced that it has signed a joint research and development agreement, as well as an exclusive distribution agreement, with Japan Lifeline pertaining to the development and distribution of novel endovascular stent graft systems for the treatment of thoracic aortic diseases. Under the terms of these agreements, the two companies will jointly invest in the development, clinical research, and commercialization of the Systems. JLL has exclusive distribution rights to the Systems in Japan, and Endologix intends to commercialize and sell the Systems through its existing global sales force and distribution partners in countries other than Japan. Endologix anticipates that the global market for thoracic devices could reach $900M by 2022, and represents a significant growth opportunity for the company.

07:55 EDT Pulse Biosciences trading halted, news pending

07:46 EDT Marinus Pharmaceuticals announces 'successful' Phase 2 clinical trial resuts - Marinus Pharmaceuticals announced that top-line data from the Phase 2 open-label study in patients with CDKL5 disorder support advancing ganaxolone into a definitive late-stage clinical trial. Oral ganaxolone, in addition to baseline treatment, showed a sizable and durable seizure-frequency reduction in the majority of patients, with some achieving an increase in the number of seizure-free days and reporting behavioral benefits. CDKL5 disorder is a severe, rare genetic epilepsy that results in early-onset, treatment-refractory seizures, pervasive neuro-developmental delay and disabling behavioral issues. There are no approved or effective available treatment options. Marinus plans to meet with regulatory agencies to obtain agreement on the clinical development plan that would be needed for approval of ganaxolone for CDKL5 disorder.

07:41 EDT Qualcomm announces 5G NR mmWave prototype - Qualcomm Technologies, a subsidiary of Qualcomm, announced Qualcomm Technologies' 5G NR mmWave prototype system based on the 5G New Radio Release-15 specifications being developed by 3GPP. The prototype system, which operates in millimeter wave spectrum bands above 24 GHz, demonstrates how advanced 5G NR mmWave technologies can be utilized to deliver robust mobile broadband communications at multi-gigabit-per-second data rates in real-world mobile environments. The prototype system also showcases the company's optimized mmWave RF Front-end design in a smartphone form-factor to test and trial real-world mmWave challenges, such as device and hand-blocking.

07:38 EDT Zimmer Biomet announces global launch of Persona Partial Knee System - Zimmer Biomet announced the launch of the Persona Partial Knee System, the latest addition to its portfolio of personalized and anatomically designed knee implant systems. The launch of the Persona Partial Knee System is the first significant jointly developed new product for the company since the Zimmer Biomet combination, and reinforces the company's leadership position in partial knee replacement.

07:36 EDT ESSA Pharma announces results from Phase 1 trial of EPI-506 - ESSA Pharma announced that results from the Phase 1 portion of the Phase 1/2 clinical trial of EPI-506 for the treatment of metastatic castration-resistant prostate cancer were presented at the European Society for Medical Oncology held in Madrid, Spain. EPI-506 is a first generation N-terminal domain inhibitor of the androgen receptor. The open-label, single-arm, dose-escalation study evaluated the safety, pharmacokinetics, maximum tolerated dose, and anti-tumor activity of EPI-506 in men with end-stage mCRPC who have progressed after prior enzalutamide and/or abiraterone treatment and may have received one prior line of chemotherapy. Twenty-eight patients were available for analysis and each patient had received four or more prior therapies for prostate cancer at the time of study entry. Patients self-administered oral doses of EPI-506 ranging from 80 mg to 3600 mg, with mean drug exposure of 85 days (range of eight to 535 days). Four patients have undergone prolonged treatment (median of 318 days; range 219 to 535 at data cut-off), following intrapatient dose escalation. Prostate-specific antigen declines ranging from 4% to 29% were observed in five patients, which occurred predominantly in the higher dose cohorts (greater than or equal to1280 mg). EPI-506 was generally well-tolerated with a favorable safety profile across all doses up to 2400 mg. At a dose of 3600 mg, gastrointestinal adverse events (nausea, vomiting, abdominal pain) were observed in two patients: one patient in the once-daily dosing cohort and one patient in the 1800 mg twice-daily dosing cohort, leading to study discontinuation and dose-limiting toxicity due to greater than25% missed doses in the 28-day safety reporting period. A separate patient in the 3600 mg QD cohort experienced a transient Grade 3 increase in liver enzymes, which also constitutes a DLT, so enrollment was concluded in that cohort. While the clinical profile of EPI-506 or its active metabolite, EPI-002, could potentially be enhanced through reformulation efforts, ESSA believes that prioritizing development of one of its next-generation NTD inhibitors with greater potency and other enhanced pharmaceutical properties offers the most compelling regulatory and commercial pathway. As a result, ESSA will discontinue further clinical development of EPI-506 and will implement a corporate restructuring plan to focus R&D resources on its next-generation Anitens targeting the AR-NTD.

07:33 EDT Natus Medical to acquire Integra LifeSciences for $47M in cash - Natus Medical (BABY) announced that it has entered into a definitive agreement with Integra LifeSciences (IART) under which Natus will acquire certain neurosurgery business assets from Integra LifeSciences in an all cash transaction for $47.5M. With current annual revenue of approximately $50M, the acquisition marks Natus' entry into the $2B global neurosurgery market. The divestiture by Integra is contingent on the consummation of Integra's proposed acquisition of Codman Neurosurgery. As part of the transaction, Natus will acquire the global Camino ICP monitoring product line, including its San Diego manufacturing facility, from Integra. The sale also includes the U.S. rights relating to Integra's fixed pressure shunts, as well as U.S. rights to Codman's DURAFORM dural graft implant, standard EVD catheters and CSF collection systems. Integra is divesting these assets in connection with the review by the Federal Trade Commission of Integra's proposed acquisition of Johnson & Johnson's Codman Neurosurgery assets. Both the divestiture and the pending acquisition of Codman Neurosurgery remain subject to final regulatory approvals and satisfaction of other customary closing conditions. Both transactions are expected to close in October 2017 after securing regulatory clearance. Natus will use cash on hand and available from its credit facility to fund the acquisition.

07:31 EDT PHH Corp. announces preliminary results of Dutch auction tender offer - PHH Corporation announced the preliminary results of its modified "Dutch auction" tender offer, which expired at 12:01 a.m., New York City time, on Monday, September 11. Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of approximately 18,785,719 shares of PHH's common stock were properly tendered and not properly withdrawn at or below a purchase price of $14.25 per share, including approximately 2,879,018 shares that were tendered by notice of guaranteed delivery. In accordance with the terms and conditions of the tender offer and based on the preliminary count by the depositary, PHH expects to accept for payment, at a purchase price of $14.25 per share, approximately 18,785,719 shares properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $267,696,489, excluding fees and expenses relating to the tender offer.

07:27 EDT Essa Pharma trading halted, news pending

07:23 EDT Electronics for Imaging approves $125M increase to share buyback authorization - EFI announced that its board has approved a $125M increase in the firm's share buyback authorization and supplemented the prior program, which, as of September 8, 2017, had $28.8M available for purchases.

07:22 EDT Zymeworks provides additional safety, activity data for Phase 1 ZW25 study - Zymeworks provided additional data from the dose escalation portion of its Phase 1 study of ZW25, a novel Azymetric bispecific antibody targeting two distinct domains of the HER2 receptor. The expanded dataset includes an additional three-month follow-up for on-study patients as well as safety data on six new patients. The best overall response in HER2-high, heavily pretreated breast cancer patients improved from two to four partial responses, resulting in a disease control rate of 63%. This included a partial response at each weekly dosing cohort. The dose escalation portion of the Phase 1 trial is complete and the new expansion cohorts have begun enrolling. ZW25 was well-tolerated at all dose levels evaluated. Single agent anti-tumor activity was present in patients with advanced HER2-expressing cancers that had progressed after multiple lines of therapy, including HER2-targeted agents. The safety and anti-tumor activity profile of ZW25 across multiple dose levels suggests the potential for a wide therapeutic window. These results have provided the framework for the initiation and enrollment of patients into the cohort expansion portion of the Phase 1 trial for ZW25 across multiple discrete cancer indications. A total of 22 patients have been enrolled in the study, including 11 with breast cancer, eight with gastric, gastroesophageal junction, or esophageal cancer, and three with other HER2-expressing cancers. Part one of the multi-part study was a standard dose escalation of ZW25 where patients received ZW25 either weekly at 5 mg/kg, 10 mg/kg, or 15 mg/kg to identify a dose and schedule to take forward for further evaluation as well as the exploration of an alternative bi-weekly schedule at 20 mg/kg in cycles of four weeks each. Data presented at ESMO included safety and anti-tumor activity for all patients treated in weekly dosing cohorts, and available safety data for patients from the bi-weekly cohort. All patients had received multiple prior regimens of systemic therapy for metastatic disease, representing a heavily pretreated population. No dose-limiting toxicities were seen at any dose level or schedule. The most common adverse events were diarrhea, infusion reactions, and nausea, all Grade 1 or 2 in severity. Durable single-agent anti-tumor activity was seen with patients having received up to 11 cycles of treatment at the time of data cut-off. The majority of patients with measurable disease had a decrease in target lesions per RECIST 1.1. The best overall response in 12 response-evaluable breast and GE patients, was four partial response, two stable disease and six progressive disease. Of the eight breast cancer patients in the weekly dosing cohorts, all were HER2-high and had received a median of six prior HER2-targeted regimens for metastatic disease including trastuzumab, T-DM1, pertuzumab, and lapatinib. BOR was four PR, one SD for greater than 10 months, and three PD, for an overall disease control rate of 63%. Of the six patients with GE cancer that were treated in the weekly dosing cohorts, three were HER2-high and three were HER2-low. Four patients were response-evaluable, with a BOR of one SD and three PD.

07:16 EDT CytoSorbents, Aferetica announce new collaboration - Aferetica, an innovative start-up specializing in blood purification, and CytoSorbents announced a new collaboration to jointly develop the PerLife ex-vivo organ perfusion system with CytoSorbents' novel adsorption technologies that can cleanse and recondition harvested solid organs such as the kidney, lungs, heart, and liver prior to transplantation. The goal of the therapy is to improve the functioning and viability of the organs, while reducing the risk of primary graft failure and organ rejection. This may help to recondition marginal organs that are typically discarded, expand the availability of scarce, suitable organs, and ensure the success of costly transplantation procedures. Under the terms of the agreement, Aferetica will lead the development and regulatory approval of the PerLife System, while CytoSorbents will provide dedicated, branded sorbent cartridges for use with the platform. CytoSorbents and Aferetica will finalize the commercial arrangements for distributing the PerLife System, including sorbent cartridges, prior to the anticipated market introduction starting in Italy later this year and followed by select European Union countries in 2018.

07:14 EDT Medical Transcription Billing announces full repayment of Opus Bank term debt - MTBC announced that it has fully repaid its $8M term loans from Opus Bank, which had outstanding balances of approximately $7.3M as of January 1, 2017.

07:10 EDT Perma-fix Environmental promotes Mark Duff to CEO - Perma-Fix Environmental Services announced Mark Duff as incoming CEO of Perma-Fix Environmental Services, to succeed Dr. Louis Centofanti, who will continue to serve as Executive V.P. of Strategic Initiatives and an executive member of the board. Previously, Duff served as Executive Vice President and COO.

07:08 EDT EnviroStar to acquire Tri-State Technical Services for $16.5M - EnviroStar announced that it has executed a definitive asset purchase agreement to acquire substantially all of the assets of Tri-State Technical Services. The transaction is expected to close within the next 45 days, subject to customary due diligence and closing conditions. EVI expects the addition of Tri-State to be accretive to its current fiscal year ended June 30, 2018. The purchase price to be paid is $16.5M of which 50% will be paid in cash and 50% will be paid in EVI common stock. Consistent with EVI's operating philosophy, Tri-State will operate as a subsidiary of EVI under its current name and from its present locations, and will continue to be led by Matt Stephenson and Tri-State's existing employees. The addition of Tri-State provides EVI contiguous territory from Florida through the southern mid-Atlantic states, which will create new opportunities to deliver more products and technical services to EVI's growing customer base in the region.

07:06 EDT Pfizer announces overall survival data of XALKORI - Pfizer announced final overall survival data from the PROFILE 1014 trial examining XALKORI in previously untreated patients with ALK-positive advanced non-small cell lung cancer. After a median follow-up of 46 months, the median OS for patients randomized to XALKORI was not reached and was 47.5 months for patients randomized to chemotherapy. Results indicated a numerical improvement in OS for patients treated with first-line XALKORI compared with chemotherapy, though this difference did not quite achieve statistical significance. The majority of patients initially randomized to chemotherapy received XALKORI after they progressed and this likely affected the overall survival results. A pre-specified, exploratory statistical analysis, adjusting for the effects of crossover, determined that median OS would have been longer for patients randomized to XALKORI than for patients randomized to chemotherapy, if patients had not been allowed to cross over. Overall survival was a secondary endpoint of PROFILE 1014 and the threshold for statistical significance was less than or equal to 0.0247. PROFILE 1014 was a global, randomized, open-label, two-arm Phase 3 study that evaluated the efficacy and safety of XALKORI in patients with previously untreated ALK-positive advanced NSCLC. Progression-free survival was the primary endpoint, and these results were previously published in The New England Journal of Medicine. There was a statistically significant improvement in PFS in the patients treated with XALKORI than with chemotherapy. A total of 343 patients were randomized into the trial, with approximately half of the patients in the XALKORI arm and the other half of the patients in the platinum doublet chemotherapy arm. The most commonly reported adverse events with XALKORI were vision disorder, diarrhea, nausea and edema, and with chemotherapy, nausea, fatigue, vomiting and decreased appetite. Most adverse events in both treatment groups were grade 1 or 2 in severity. Grade 3 or 4 elevations of aminotransferase levels occurred in 14% of patients in the XALKORI group and 2% of patients in the chemotherapy group, and these elevations were managed primarily with dose interruptions or dose reductions. Grade 3 or 4 neutropenia occurred in 11% and 15% of patients in the XALKORI and chemotherapy groups, respectively, with no cases of febrile neutropenia reported with XALKORI and two cases with chemotherapy.

07:04 EDT Ritchie Bros. sells C$75M+ of equipment at Edmonton auction - Ritchie Bros. conducted its fourth Edmonton auction of the year last week, selling 6,600+ equipment items and trucks for C$75M+ over three days, September 6-8.

07:02 EDT Preferred Apartment acquires Woodmont Village - Preferred Apartment Communities announced the acquisition on September 8, 2017 of Woodmont Village, an approximately 85,639 square foot shopping center located in the Atlanta, Georgia MSA and anchored by a 54,139 square foot Kroger grocery store. Woodmont Village is strategically positioned at the intersection of GA Highway 20 and Cherokee Road in this rapidly growing and affluent corridor of Cherokee County. PAC acquired this asset through its wholly-owned subsidiary New Market Properties.

07:02 EDT Quorum Health to divest hospital in Alabama - Quorum Health Corporation announced that an affiliate of the company has signed a definitive agreement to sell 72-bed L.V. Stabler Memorial Hospital in Greenville, Alabama and its associated assets, to The Health Care Authority of the City of Greenville - L.V. Stabler Hospital, an Alabama Public Corporation. The transaction is expected to close in Q4.

07:00 EDT ITG reports August trading volume 2.7B shares - ITG announced that August 2017 U.S. trading volume was 2.7B shares and average daily volume was 117M shares, compared to 2.6B shares and ADV of 129M shares in July 2017 and 2.5B shares and ADV of 107M shares in August 2016. There were 23 trading days in both August 2017 and August 2016 and 20 trading days in July 2017.

06:51 EDT Alamos Gold to acquire Richmont Mines in deal with equity value of $770M - Alamos Gold (AGI) and Richmont Mines (RIC) are announced that they have entered into a definitive agreement whereby Alamos will acquire all of the issued and outstanding shares of Richmont pursuant to a plan of arrangement, further enhancing Alamos' position as a leading intermediate gold producer. Under the terms of the Agreement, all of the Richmont issued and outstanding common shares will be exchanged on the basis of 1.385 Alamos common shares for each Richmont common share. The Exchange Ratio implies consideration of C$14.20 per Richmont common share, based on the closing price of Alamos common shares on the Toronto Stock Exchange on September 8. This represents a 22% premium to Richmont's closing price and a 32% premium based on both companies' 20-day volume-weighted average prices, both as at September 8 on the TSX. This implies a total equity value of approximately $770M on a fully diluted in-the-money basis and an enterprise value of $683M. Upon completion of the Transaction, existing Alamos and Richmont shareholders will own approximately 77% and 23% of the pro forma company, respectively. Concurrent with the announcement of the Transaction, Richmont announced the sale of the Beaufor Mine, the Camflo Mill and the Wasamac development project located in Quebec. Further details regarding the sale of the Quebec Assets can be found in the Richmont press release dated September 11. The sale of the Quebec Assets is the culmination of a strategic review process that Richmont publicly disclosed in Q1. The sale is expected to close on, or about, September 29 and is not a condition to the Transaction. The Agreement has been unanimously approved by the boards of Alamos and Richmont, and each board recommends that their respective shareholders vote in favor of the Transaction.

06:49 EDT Alamos Gold to acquire Richmont Mines in deal with equity value of $770M

06:34 EDT Plymouth Industrial REIT acquires industrial building in Memphis for $3.7M - Plymouth Industrial REIT announced it has acquired a 132,000-square-foot industrial building in Memphis, Tennessee for $3.7M in cash. Located in the Memphis Southeast submarket, 3635 Knight Road is 100% leased to Terminix International Company and to Commercial Warehouse and Cartage, a third-party logistics firm. The property is projected to provide an initial yield of 8.6%.

06:28 EDT New Uber CEO steps down from New York Times board - In a regulatory filing, The New York Times Co said that on September 7, Dara Khosrowshahi informed the company that, in light of his new role and increased responsibilities as Chief Executive Officer of Uber Technologies, he would resign from the company's Board of Directors, effective immediately. Khosrowshahi had served as a director since 2015, and was a member of the Audit Committee and Technology & Innovation Committee. Khosrowshahi's decision to resign as a director was not due to any disagreements with the company on any matter relating to the company's operations, policies or practices.

06:07 EDT AIR Worldwide sees Hurricane Irma losses at $20B-$40B - Catastrophe modeling firm AIR Worldwide estimates industry insured losses in the United States resulting from Hurricane Irma will range from $20B-$40B. Note that these estimates are based on the NHC's Sunday, September 10, 5:00 p.m. EDT forecast advisory for Irma. AIR Worldwide is a Verisk Analytics business. According to AIR, exposure value in the coastal counties along the Gulf Coast up to Tampa, which will bear the brunt of the impact, is estimated at $1T.

06:03 EDT Cascadian Therapeutics presents tucatinib data at ESMO - Cascadian Therapeutics announced tucatinib data in multiple tumor types were presented at the European Society for Medical Oncology 2017 Congress being held September 8-12, 2017 in Madrid, Spain. Results from the pooled analysis of Phase 1b combination studies support the potential utility of tucatinib for patients with HER2-positive metastatic breast cancer with brain metastases, including untreated or progressive brain metastases after radiation therapy. HER2 disease has been associated with shorter survival times as well as a higher risk of recurrence and brain metastases.

06:01 EDT ContraVir Pharmaceuticals receives HBV IND approval for Tenofovir Exalidex - ContraVir Pharmaceuticals announced that the U.S. FDA has approved an Investigational New Drug Application in the U.S. for its lead HBV compound, TXL for the treatment of chronic hepatitis B. Earlier this year, ContraVir announced that it had completed a Phase 1, multiple dose study in healthy subjects and a Phase 2a, 28 day study in HBV-infected patients. These studies were conducted in Thailand, a country with a high prevalence of chronic HBV infection. Having successfully achieved proof-of-concept, ContraVir intends to expand the TXL clinical program and initiate its first US-based clinical trial for TXL in the fourth quarter of 2017, pending approval by the Institutional Review Board. The study will enroll patients with severe renal impairment, and thus will generate data which we believe will further support the favorable safety profile of TXL.

06:00 EDT Curis, Aurigene announce plans to initiate Phase 2 trial of CA-170 in India - Curis presented preliminary data from the initial 34 patients with cancer treated in the dose escalation stage of the Phase 1 trial of CA-170 conducted in the U.S., South Korea and Spain, at the European Society for Medical Oncology 2017 Congress. As a result of the initial safety data and preliminary evidence of clinical benefit observed in the trial, Curis's collaborator and discoverer of CA-170, Aurigene Discovery Technologies announced plans to initiate a Phase 2 trial of CA-170 to be conducted at sites in India. "We are pleased with these early results. Based on evidence of tumor shrinkage, multiple patients remaining on drug treatment for extended periods, and compelling signals for biomarkers of immune modulation in patient blood and tumor samples, we remain highly confident that the CA-170 program is moving in the right direction. We plan to continue with the dose escalation and continued analysis of patient biopsy samples in the Phase 1 trial," said Ali Fattaey, Ph.D., President and CEO of Curis. "We expect to provide additional updates at upcoming conferences including the Society for Immunotherapy of Cancer annual meeting in November."

05:52 EDT Achillion announces termination of collaboration hepatitis C with Janssen - Achillion Pharmaceuticals (ACHN) announced that on Saturday, September 9, it received notice of termination of the worldwide license and collaboration arrangement on hepatitis C with Janssen Pharmaceuticals, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ). The notice follows the decision by Janssen announced today to discontinue the development of the investigational hepatitis C treatment regimen JNJ-4178, a combination of three direct acting antivirals: AL-335, odalasvir and simeprevir.

05:39 EDT Regeneron, Sanofi: dupilumab hits main objectives in Phase 3 asthma trial - Sanofi (SNY) and Regeneron Pharmaceuticals (REGN) announced that the pivotal Phase 3 LIBERTY ASTHMA QUEST study of dupilumab in a broad population of patients with uncontrolled, persistent asthma met its two primary endpoints. Dupilumab, when added to standard therapies, reduced severe asthma attacks and improved lung function. At 52 weeks, in the 300 mg dose group, dupilumab reduced severe asthma attacks by 46% in the overall population, 60% in patients with 150 eosinophilic cells/microliter or greater, and 67% in patients with 300 eosinophilic cells/microliter or greater. At 12 weeks, in the 300 mg dupilumab dose group, mean improvement in lung function over placebo as assessed by forced expiratory volume over one second with dupilumab was 130 mL in the overall population, 210 mL in patients with 150 eosinophilic cells/microliter or greater, and 240 mL in patients with 300 eosinophilic cells/microliter or greater. The companies plan to submit a Supplemental Biologics License Application to the FDA by the end of this year.