Stockwinners Market Radar for September 26, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:21 EDT RLI estimates $30-$40M in pretax losses from hurricanes - RLI announced that its estimate of pretax losses from Hurricanes Harvey, Irma and Maria will be in the range of $30M-$40M, net of reinsurance. RLI's loss estimates are subject to change due to the complexity of the claims and preliminary nature of the information available to prepare the estimates. Updated loss estimates related to recent hurricanes will be reflected in RLI's Q3 results, which are scheduled for release on October 18.

18:14 EDT Parker-Hannifin acknowledges DOJ filing regarding ground fuel filtration unit - Parker Hannifin acknowledged that the U.S. Department of Justice has filed a complaint regarding Parker's U.S. qualified aviation ground fuel filtration business in connection with Parker's acquisition of CLARCOR. The estimated combined annual revenue attributable to Parker's and CLARCOR's U.S. qualified aviation ground fuel filtration elements under inquiry is less than $20M. Parker's acquisition of CLARCOR was announced on December 1, 2016 and closed on February 28, 2017. The customary waiting period applicable to the requisite transaction filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, expired on January 17, 2017. The company noted that no second request for information was made prior to the expiration of the customary waiting period. Parker has cooperated fully with the DOJ throughout this process and has been working diligently to respond to their post-closing inquiry. Parker is now reviewing the complaint and looks forward to the ultimate resolution of this matter.

17:45 EDT HubSpot raises Q3 outlook

17:31 EDT Nike: North America marketplace still undergoing 'significant' transformation - Says seeing "incredible" results in China. Says North America marketplace undergoing "significant" transformation. Says NA marketplace continues to be disrupted by shift to digital and want for further personal experience. Says has maintained to slightly increase market share in U.S. Says currently acting on category-specific methods to better reach consumers.

17:23 EDT Nike 'bullish' on long-term opportunity in North America. - Says sportswear category a "great way" to bring up city-focused approach.

17:21 EDT Twitter to begin testing longer 280 character Tweets with small group - Aliza Rosen, product manager at Twitter said in a blog post: "Trying to cram your thoughts into a Tweet - we've all been there, and it's a pain. Interestingly, this isn't a problem everywhere people Tweet. For example, when I (Aliza) Tweet in English, I quickly run into the 140 character limit and have to edit my Tweet down so it fits...But when Iku Tweets in Japanese, he doesn't have the same problem. He finishes sharing his thought and still has room to spare. This is because in languages like Japanese, Korean, and Chinese you can convey about double the amount of information in one character as you can in many other languages, like English, Spanish, Portuguese, or French. We want every person around the world to easily express themselves on Twitter, so we're doing something new: we're going to try out a longer limit, 280 characters, in languages impacted by cramming (which is all except Japanese, Chinese, and Korean). Although this is only available to a small group right now, we want to be transparent about why we are excited to try this." Reference Link

17:20 EDT Sterling Bancorp to repalce Oil States in S&P 400 at open on 10/2 - Sterling Bancorp (STL) is acquiring Astoria (AF) in a deal expected to be completed soon pending final closing conditions. Post merger, Sterling Bancorp will be more representative of the mid-cap market space. Oil States is more representative of the small-cap market space.

17:18 EDT Six Flags to replace Parexel in S&P 400 at open on 10/2 - Pamplona Capital Management is acquiring PAREXEL in a deal expected to be completed soon pending final conditions.

17:16 EDT Nike says Q1 online sales up 19% - Says Q1 direct-to-consumer sales up 11%. Comments taken from Q1 earnings conference call.

17:11 EDT Twitter to begin testing longer 280 character tweets with small group - Aliza Rosen, product manager at Twitter said in a blog post: "Trying to cram your thoughts into a Tweet - we've all been there, and it's a pain. Interestingly, this isn't a problem everywhere people Tweet. For example, when I (Aliza) Tweet in English, I quickly run into the 140 character limit and have to edit my Tweet down so it fits...But when Iku Tweets in Japanese, he doesn't have the same problem. He finishes sharing his thought and still has room to spare. This is because in languages like Japanese, Korean, and Chinese you can convey about double the amount of information in one character as you can in many other languages, like English, Spanish, Portuguese, or French. We want every person around the world to easily express themselves on Twitter, so we're doing something new: we're going to try out a longer limit, 280 characters, in languages impacted by cramming (which is all except Japanese, Chinese, and Korean). Although this is only available to a small group right now, we want to be transparent about why we are excited to try this." Reference Link

17:05 EDT T-Mobile to acquire remaining interest of iWireless from Aureon - T-Mobile US announced the Un-carrier is accelerating its geographic expansion efforts in Iowa though a definitive agreement to acquire the remaining interest of Iowa Wireless, or iWireless, from Aureon. iWireless is a regional wireless provider serving Iowa, western Illinois, and eastern Nebraska with 103 full service company stores and authorized dealers that serve approximately 75,000 customers. The deal is subject to customary closing conditions including regulatory approval and is expected to close in the fourth quarter of 2017 or early 2018.

17:01 EDT Northrop Grumman COO Flach to retire, Warden named next COO - Northrop Grumman announced that two of its elected officers have stated their intent to retire at the end of this year. Gloria A. Flach, chief operating officer, and Sid Ashworth, corporate vice president, Government Relations have announced their decisions to retire from the company, effective Dec. 31, 2017. The Northrop Grumman board of directors has elected Kathy J. Warden president and chief operating officer, effective Jan. 1, 2018. Warden currently is corporate vice president and president, Mission Systems. In her new role, Warden will oversee the company's three operating sectors as well as the integration of the Orbital ATK business upon closing of that transaction. Warden and all sector presidents will continue to be members of the company's Corporate Policy Council. The board of directors also elected Mark A. Caylor corporate vice president and president, Mission Systems; Shawn N. Purvis corporate vice president and president, Enterprise Services; and Lesley A. Kalan corporate vice president, Government Relations. Caylor, Purvis and Kalan will assume their new roles on Jan. 1, 2018. They will also serve as members of the Corporate Policy Council.

16:55 EDT Kornit Digital trading resumes

16:41 EDT United Continental applies for daily service to Havana - United Airlines completed its application to the U.S. Department of Transportation or DOT, for authority to provide daily service from Houston to Havana's Jose Marti International Airport. United's proposal, subject to government approval, will expand its service from Saturday-only to daily service.

16:32 EDT BWSR joint venture awarded $140M extension by BMPC - BWX Technologies announced that its BWSR joint venture with APTIM has been awarded a two-year extension by Bechtel Marine Propulsion Corporation, or BMPC. The $140M award is inclusive of a $14M option anticipated to be awarded in 2018. There is also an option for a third year of work at a value to be negotiated at a later date.

16:31 EDT Micron sees 'healthy supply-demand balance' for DRAM in 2018 - "Micron sees DRAM industry supply bit growth of ~20%, supported by demand trends from Cloud; healthy supply-demand balance. Sees NAND industry supply bit growth approaching ~50%, satisfying currently unfulfilled demand," said the company in an earnings slide deck.

16:25 EDT Westbury Bancorp trading halted, news pending

16:23 EDT Mercury Systems receives $5.3M order for precision guided munitions program - Mercury Systems announced it received a $5.3M follow-on order from a leading defense prime contractor for high-performance GPS Selective Availability Anti-Spoofing Modules for a precision guided munitions program. The order was booked in 1Q18 and is expected to be shipped over the next several quarters. The company's industry-leading portfolio of commercial microelectronics include SWaP-optimized and highly ruggedized components and modules tailored to defense industry requirements. By leveraging a heritage of precision engineering expertise, these compact solutions deliver highly differentiated performance without sacrificing affordability or security.

16:17 EDT Nike reports Q1 NIKE Brand revenue $8.6B, up 2% - Revenues for the NIKE Brand were $8.6B, up 2% on a currency-neutral basis driven by growth in Greater China, EMEA and APLA, including growth in Sportswear. Revenues for Converse were $483M, down 16% on a currency-neutral basis, mainly driven by declines in North America.

16:16 EDT Nike reports Q4 NIKE Brand revenue $8.6B, up 2% - Revenues for the NIKE Brand were $8.6B, up 2% on a currency-neutral basis driven by growth in Greater China, EMEA and APLA, including growth in Sportswear. Revenues for Converse were $483M, down 16% on a currency-neutral basis, mainly driven by declines in North America.

16:09 EDT Westlake Chemical Partners to acquire extra 5% interest in OpCo - Westlake Chemical Partners LP announced that it has agreed to acquire an additional 5.0% limited partner interest in Westlake Chemical OpCo LP for approximately $229.2M. The transaction, which is expected to close in connection with the concurrently announced equity offering by the Partnership, is expected to be immediately accretive to the Partnership's MLP distributable cash flow. Consideration for the acquisition is expected to be funded with borrowings under the Partnership's revolving credit agreement and proceeds from the concurrently announced equity offering by the Partnership. This transaction will increase the Partnership's limited partner interest in OpCo from approximately 13.3% to approximately 18.3% and will represent the second purchase of additional interests in OpCo by the Partnership since its initial public offering. OpCo's assets are comprised of three ethylene production facilities, which primarily convert ethane into ethylene and have an aggregate annual capacity of approximately 3.7B pounds, and a 200-mile ethylene pipeline. OpCo sells approximately 95% of its ethylene production to Westlake Chemical Corporation under a long-term supply agreement, which provides for a stable 10c margin per pound. OpCo intends to use the proceeds it receives in connection with this transaction to repay borrowings under its intercompany debt agreements with Westlake Chemical Corporation. The terms of the acquisition were approved by a Conflicts Committee, which is comprised entirely of independent directors of the board of directors of Westlake Chemical Partners GP LLC, the general partner of the Partnership. This committee was advised by Jefferies LLC as to financial matters and Akin Gump Strauss Hauer & Feld LLP as to legal matters.

16:06 EDT AMSC completes acquisition of Infinia Technology - AMSC announced that it has acquired Infinia Technology Corporation, a cryo-cooling company located in Richland, Washington. At closing, AMSC paid the selling stockholders an aggregate purchase price of $3.75M as follows: $100,000 in cash, and 884,890 shares of AMSC common stock.

16:06 EDT Griffon amends ClosetMaid purchase agreement - Griffon Corporation (GFF) and Emerson (EMR) entered into an amendment to the previously announced purchase agreement for Griffon to acquire ClosetMaid Corporation, a market leader of home storage and organization products. The amendment provides for a reduction in purchase price from $260M to $200M. After taking into account tax benefits resulting from the transaction, the effective purchase price was reduced from $225M to $175M. Subsequent to entering into the purchase agreement, ClosetMaid management reported that the trend of increased manufacturing costs that occurred primarily during the quarter ended June 30 continued through Q4, resulting in unanticipated decreases in operating results. ClosetMaid management also indicated it expects this trend to impact future results. The terms of the amendment are intended to ensure that the valuation metrics used by the parties in establishing the original purchase price are maintained. Griffon and Emerson will make a joint election under Section 338 of the Internal Revenue Code, permitting the transaction to be treated as an asset purchase for tax purposes. This election will generate a tax benefit with an estimated present value of $25M for Griffon and its shareholders. The acquisition of ClosetMaid will be immediately accretive to Griffon's cash flow and earnings. In the first full year of operations, Griffon expects ClosetMaid to contribute approximately $300M in revenue and approximately 8c in earnings per share. Griffon's effective purchase price is 7 times expected EBITDA for the fiscal year ending September 2018. Griffon's acquisition of ClosetMaid is expected to be financed through committed debt financing which is expected to be in the form of a senior notes offering and cash on hand. The acquisition is subject to customary closing conditions and is expected to close on October 2.

16:03 EDT Blue Bird enters stock repurchase agreement with Coliseum Capital - Blue Bird Corporation announced that it has entered into a Securities Repurchase Agreement with investment funds managed by Coliseum Capital Management, LLC. Under the terms of the Securities Repurchase Agreement, Blue Bird has agreed to purchase all of Coliseum's shares of common stock, its shares of the company's preferred stock, and its warrants to acquire common stock. The company agreed on an aggregate purchase price of $32.1M, reflecting a price per share of common stock of $18.65. Blue Bird will fund the repurchase with cash on hand. The share repurchase is made pursuant to Blue Bird's existing share repurchase program of up to $50M. Effective upon the closing of the Company's acquisition of the Transaction Securities, Adam Gray, Managing Partner at Coliseum Capital Management, will resign from the Blue Bird Board. "It has been exciting to help an iconic brand go public and to support an outstanding management team's vision and mission," said Adam Gray. "It has been a pleasure to have worked with American Securities in their stewardship of the Company and we are delighted with the growth in shareholder value we have realized since our initial investment in February 2015. I look forward to seeing Blue Bird continuing to grow and thrive."

15:58 EDT Siemens, Alstom confirm agreement to combine mobility businesses - Siemens (SIEGY) and Alstom (ALSMY) have signed a Memorandum of Understanding to combine Siemens' mobility business including its rail traction drives business with Alstom. "The transaction brings together two innovative players of the railway market with unique customer value and operational potential. The two businesses are largely complementary in terms of activities and geographies," the companies said. Siemens will receive newly issued shares in the combined company representing 50% of Alstom's share capital on a fully diluted basis. In a combined setup, Siemens and Alstom expect to generate annual synergies of EUR470M latest in year four post-closing and targets net-cash at closing between EUR0.5B to EUR1.0B. Global headquarters as well as the management team for rolling stock will be located in Paris area and the combined entity will remain listed in France. Headquarters for the Mobility Solutions business will be located in Berlin, Germany. As part of the combination, Alstom existing shareholders at the close of the day preceding the closing date, will receive two special dividends: a control premium of EUR4.00 per share to be paid shortly after closing of the transaction and an extraordinary dividend of up to EUR4.00 per share to be paid out of the proceeds of Alstom's put options for the General Electric (GE) joint ventures of approximately EUR2.5B subject to the cash position of Alstom. Siemens will receive warrants allowing it to acquire Alstom shares representing two percentage points of its share capital that can be exercised earliest four years after closing. The envisaged transaction is unanimously supported by Alstom's board, further to a review process of the preparation of the transaction by the Audit Committee acting as an ad hoc committee, and Siemens's supervisory board. In France, Alstom and Siemens will initiate Works Councils' information and consultation procedure according to French law prior to the signing of the transaction documents. If Alstom were not to pursue the transaction, it would have to pay a EUR140M break-fee. Closing is expected at the end of calendar year 2018.

15:38 EDT Amazon discussses launch of AWS Global SMS two-way text messaging - Amazon's (AMZN) Randall Hunt wrote in a post to the AWS Blog: "Last week Amazon Pinpoint launched AWS Global SMS two-way text messaging and we didn't get an opportunity to cover the launch. AWS Pinpoint users can now programmaticaly respond to their end-users' text messages. Users can provision both short codes and long codes which send inbound messages to an SNS topic." Shares of Twilio (TWLO), which offers a Cloud Communications Platform including a Programmable Communications Cloud, has been weak all afternoon, with traders attributing the weakness to Amazon's new product launch, according to contacts. Shares of Twilio are at their session lows, dropping about 6%, in afternoon trading. Reference Link

15:05 EDT Northern Right Capital reports 9.5% stake in Great Elm Capital

14:38 EDT Psychemedics announces addition of FDA-cleared Benzodiazepines hair test - Psychemedics Corporation announced the launch of its FDA-cleared Benzodiazepines hair test. The test detects numerous Benzodiazepines, including Xanax, Valium, and Ativan, and is available as a stand-alone test or as an option on Psychemedics' standard drug panels. Psychemedics' non-invasive testing procedure uses a small sample of hair that is easily collected and shipped to Psychemedics' College of American Pathologists and certified laboratory. Unlike urinalysis or oral fluid testing which typically detects drug use for only the previous one to three days, Psychemedics hair analysis can detect use over the previous few months.

14:28 EDT Trinseo increases prices for latex technologies in North America - Trinseo announced that effective October 16, the company is increasing the prices of all Styrene Butadiene and Styrene Acrylate products sold into the carpet, paper, adhesives, construction, and functional non-woven latex markets in North America. The increase will be 7c/dry lb. for all indexed and non-indexed customers, as contracts allow. The increase is necessary due to the changes in market conditions and to offset rising costs to manufacture and transport our products, and to remain a strong and reliable supplier.

14:18 EDT Syngenta reports pending settlement to resolve corn litigation - Plaintiffs and defendants in the Syngenta MIR 162 Corn Litigation have reached a pending settlement to resolve litigation concerning the launch of Syngenta's Agrisure Viptera and Agrisure Duracade corn traits. The settlement, which is subject to court approval, would establish a settlement fund for the submission of claims by eligible claimants who contracted to price corn or corn by-products after September 15, 2013. Information concerning the settlement fund, claims process, and other details will become available after the parties execute and submit the proposed settlement agreement and other papers to the court later this year. The proposed settlement would allow both sides to avoid the uncertainty of ongoing litigation. The settlement does not constitute an admission by either side concerning the merits of the parties' allegations and defenses.

13:57 EDT Fitbit to participate in FDA software pilot program - Fitbit announced that it has been selected as one of nine companies that will participate in the FDA new digital health software precertification pilot program. The pilot aims to develop a new approach to regulating digital health technology and promotes the innovation of high-quality and effective digital health tools. Fitbit plans to work with the FDA on this effort, which would enable companies to bring new tools to consumers that have the potential to improve health outcomes and advance digital health innovation. By exploring the development of a new regulatory pathway, the FDA intends to create a process that initially evaluates the software developer, rather than the digital health product itself.

13:49 EDT Sun Life Financial announces launch of Workplace by Facebook - Sun Life Financial (SLF) announced it has launched Workplace by Facebook (FB), a communications platform that connects the global enterprise with familiar tools to increase collaboration and productivity. Workplace is currently being used by Sun Life employees in Canada, the U.S., and Asia and is expected to be rolled-out to all employees across its global operations by July 2018. To date, approximately 6,000 Sun Life employees are using Workplace with more being added each day.

13:06 EDT Houston Pizza Venture reports nine-year agreement with Vistra's TXU Energy - Houston Pizza Venture, one of the largest Papa John's (PZZA) franchisees in the country, will now add solar to its 100% renewable energy purchase as part of a nine-year agreement with TXU Energy. The Houston-based company has been powering its more than 85 stores, which include Papa John's, Genghis Grill, Firehouse Subs, and Sure Fire Tacos and Tortilla Grill locations, with 100% wind power since 2015. Beginning in 2018, solar power from the new Luminant Upton 2 Solar Power Plant in West Texas will also make up nearly a quarter of the restaurant company's renewable energy mix. TXU Energy is a subsidiary of Vistra Energy (VST).

12:56 EDT Warby Parker CEO says Amazon's Bezos has not approached company - Warby Parker CEO Neil Blumenthal, while speaking on CNBC, said Amazon.com CEO Jeff Bezos has not approached the private eyewear company about a takeover.

12:45 EDT Morningstar reports August U.S. mutual fund, ETF asset flows - Morningstar reported estimated U.S. mutual fund and exchange-traded fund asset flows for August 2017. In August, investors put $8.5B into U.S. equity passive funds, down from $10.8B in July 2017. On the active front, investors pulled $23B out of U.S. equity funds, compared with $19.6B in the previous month. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.

12:25 EDT E.ON reaches pact with Fortum for right to tender Uniper stake - E.ON SE said it has reached agreement with Fortum Corporation according to which E.ON has the right to tender its remaining Uniper stake in the course of a public takeover offer by Fortum in early 2018. Fortum is announcing its intention to launch a voluntary public takeover offer, comprising a cash offer to all Uniper shareholders with a total value of EUR 22 per share. The offer will not have a minimum acceptance condition. Fortum and E.ON signed an agreement under which E.ON has the right to decide to tender its Uniper stake into the offer in early 2018 at the same total value per share as offered to all shareholders. Should E.ON exercise its right to tender, the total value received by E.ON for its Uniper stake would be expected to be EUR 3.76B. The agreement further provides that, if E.ON does not tender its Uniper stake, Fortum will have the right to sell to E.ON any Uniper shares acquired in connection with the Offer and in addition receive a compensation payment from E.ON.

12:08 EDT Apple, Fitbit among nine selected for FDA digital pilot program - The Food and Drug Administration announced the names of the companies selected to participate in a pilot program that it says "will help revolutionize digital health regulation in the U.S." The FDA's Pre-cert pilot program is intended to "inform a tailored approach toward digital health technology by looking at the software developer or digital health technology developer, rather than primarily at the product." The goal is for the FDA to, "after reviewing systems for software design, validation and maintenance, determine whether the company meets quality standards and if so, to precertify the company." It added, "The agency hopes to determine the key metrics and performance indicators for precertification and identify ways that precertified companies could potentially submit less information to the FDA than is currently required before marketing a new digital health tool as part of a formal program. The FDA is also considering, as part of the pilot program, whether and how, precertified companies may not have to submit a product for premarket review in some cases." Participants selected are Apple (AAPL), Fitbit (FIT), Johnson & Johnson (JNJ), Pear Therapeutics, Phosphorus, Roche (RHHBY), Samsung (SSNLF), Tidepool and Verily.

11:30 EDT First Potomac shareholders approve acquisition by Government Properties - First Potomac Realty Trust (FPO) announced that, at a special meeting held earlier today, First Potomac shareholders voted to approve the previously announced acquisition of the Company by Government Properties Income Trust (GOV). The transaction is expected to close in October, subject to customary closing conditions. Upon completion of the transaction, trading of the common shares of First Potomac on the New York Stock Exchange will cease, and each outstanding common share of First Potomac will be converted into the right to receive $11.15 in cash.

11:10 EDT Repligen sliding after biggest customer launches new resin - Shares of Repligen (RGEN) are sliding after GE Healthcare (GE), its largest customer, announced plans to launch a new Protein A resin that will not use the former as the manufacturer of the associated Protein A ligand. Commenting on the news, Jefferies analyst Brandon Couillard said while the near-term impact may be "negligible" to Repligen, the longer-term implications are negative. Meanwhile, his peer at Stephens told investors that he sees GE Healthcare's resin as a niche product and he remains positive on Repligen. NEW PROTEIN A RESIN: GE Healthcare has introduced a new Protein A chromatography resin, MabSelect PrismA, which the company says will help biopharmaceutical manufacturers improve their monoclonal antibody purification capacity by up to 40%. The resin is significantly more alkaline-stable, meaning that MabSelect PrismA can be cleaned with a higher concentration of sodium hydroxide to better control cross-contamination and bioburden risks, GE stated in its announcement yesterday. MabSelect PrismA addresses a number of key challenges, including the increased upstream titers, the company said, adding that the new resin is highly efficient due to its excellent binding capacity. MabSelect PrismA has been developed at the GE Healthcare Life Sciences site in Uppsala, Sweden, where the resin is also manufactured. Between 2017-2022 GE Healthcare is annually investing up to $70M in the production facility to significantly increase the factory's capacity. GE LAUNCH TO WEIGH ON VALUATION: Jefferies' Couillard told investors that GE Healthcare will not utilize Repligen as the manufacturer of the associated protein A ligand for the new Protein A chromatography resin. While the near-term financial impact appears negligible to Repligen given its long-term contracts and new Protein A resins' typical long adoption cycle, the long-term implications are negative, as GE Healthcare's move to in-source Protein A ligands diminishes the value of Repligen's near-monopoly position and could weigh on its premium multiple. GE Healthcare's sizable planned investment outlay suggests it may eventually look to bring production of other protein A ligands in-house as part of a broader continuity plan once its long-term contracts expire in 2019/2021, the analyst added. Moreover, Couillard pointed out that the move also brings into question whether Millipore-Sigma may pursue a similar in-sourcing strategy down the road. The analyst reiterated a Hold rating and a $40 price target on Repligen shares. GE RESIN A NICHE: In a research note of his own, Stephens analyst Drew Jones told investors that he is "not distracted" from his positive long-term outlook on Repligen after GE Healthcare's plans. The analyst believes this will be a niche resin that will not drive "meaningful" revenue for at least five to seven years. Further, Jones noted that Repligen's revenue from GE Healthcare will not be impacted due to long-term contracts. The analyst reiterated an Overweight rating and $50 price target on Repligen shares. PRICE ACTION: In morning trading, shares of Repligen have dropped almost 13% to $37.69.

11:01 EDT Washington Trust announces retirement of CEO MarcAurele and CFO Devault - The Board of Directors of Washington Trust Bancorp announced Joseph J. MarcAurele will retire as Chairman and CEO effective March 2, 2018. MarcAurele will continue to serve as a member of Washington Trust's Board of Directors. The Board also announced that David V. Devault, Vice Chair, Secretary and CFO, will retire effective January 31, 2018. The Board's long-range leadership succession plan also includes the following executive appointments: Edward O. "Ned" Handy, III, who currently serves as President and COO, will succeed MarcAurele as Chairman and CEO of the Corporation and the Bank, effective with MarcAurele's retirement on March 2, 2018. Mark K. W. Gim, who currently serves as Senior Executive Vice President, Wealth Management and Chief Strategy Officer, will assume Handy's position and become President and COO of the Corporation and the Bank, effective March 2, 2018. Ronald S. Ohsberg, who currently serves as Senior Executive Vice President and Treasurer, will succeed Devault as CFO of the Corporation and the Bank, effective with Devault's retirement on January 31, 2018. This announcement reflects the culmination of a multi-year succession planning process.

10:58 EDT Wedbush cuts three restaurant chains on downbeat sales forecast - Wedbush downgraded restaurant chains Cheesecake Factory (CAKE), Shake Shack (SHAK) and Habit Restaurants (HABT) to Neutral from Outperform. The firm expects the comparable sales of fast casual and casual dining restaurants to remain under pressure going forward. NEGATIVE TRENDS: Several factors are weighing on the comparable sales of fast casual and casual dining restaurant chains, wrote Wedbush analyst Nick Setyan. Specifically, the income of wealthier households is "plateauing," the inflation of at-home food remains "muted," retail traffic is falling, and third party delivery continues to grow, Setyan wrote. Moreover, the sector's margin expectations are "at risk," since the group does not have the ability to offset rising costs with higher prices, he stated. PRICE TARGETS: The analyst cut his price target on Cheesecake to $44 from $52, on Shake Shack to $36 from $40 and on Habit to $14 from $19. PRICE ACTION: In morning trading, Cheesecake Factory fell 2% to $40.81, Shake Shack tumbled 6% to $31.63 and Habit sank 6% to $12.25.

10:49 EDT Scana says AG requesting criminal investigation of nuclear project handling - In a regulatory filing, Scana (SCG) disclosed that the South Carolina Attorney General's Office, the Speaker of the South Carolina House of Representatives, and the Chair and Vice-Chair of the South Carolina House Utility Ratepayer Protection Committee have requested the South Carolina Law Enforcement Division to conduct a criminal investigation of the handling of the V.C. Summer Nuclear Project by SCANA Corporation and South Carolina Electric and Gas Company, SCANA's primary subsidiary. "SCANA and SCE&G intend to fully cooperate with any potential government investigation of the project. If an investigation is commenced by SLED, no assurance can be given as to the timing or outcome of this matter," the company stated in its filing. Fluor (FLR) was the construction contractor for the Summer units.

10:47 EDT Scana says AG requesting criminal investigation of nuclear project handling

10:40 EDT Deutsche moves to the sidelines on JPMorgan, PNC - Shares of JPMorgan (JPM) and PNC Financial (PNC) are slipping after Deutsche Bank analyst Matt O'Connor downgraded both stocks to Hold from Buy, saying he is seeking to lessen exposure to traditional banks. The analyst argued that further outperformance seems harder to achieve going forward given increasing competition. YIELD CURVE TO FLATTEN: In a research note to investors, Deutsche Bank analyst Matt O'Connor said he continues to believe the yield curve will flatten as the Fed raises short rates, the unwind of the Fed's bond book is not likely to meaningfully impact the demand/supply of those assets, and economic growth seems unlikely to accelerate significantly. The analyst argued that he continues to prefer banks with a turnaround angle, such as Goldman Sachs (GS) and Wells Fargo (WFC), and remains positive on capital market businesses, which supports his Buy rating on Morgan Stanley (MS). DOWNGRADING JPMORGAN: Deutsche Bank's O'Connor downgraded JPMorgan to Hold from Buy, telling investors that he seeks to lessen exposure to traditional banks. Noting that JPMorgan shares have been a "consistent outperformer" the past few years, he argued that further "meaningful outperformance" seems harder given increased competition within investment banking and trading, likely higher credit card losses, and slowing loan growth while the yield curve flattens. Additionally, O'Conner pointed out that JPMorgan's valuation is not high, but is also not cheap, raising his price target for the shares to $96 from $90. SIDELINING PNC: O'Connor also downgraded PNC Financial to Hold from Buy, citing similar reasons. While the analyst sees a number of positives, including good cost control, strong credit and capital management and better loan growth versus peers, he believes that this seems to be already priced in the stock, and further multiple expansion seems "harder to argue." PNC has a "good" mix of fee businesses, but net interest income growth is in part dependent on higher long-term rates, which will be tougher given a flatter yield curve and only moderate loan growth, he contended. Additionally, O'Connor argued that PNC has done "a nice job" outgrowing peers in lending, but it is not clear how sustainable this will be. PRICE ACTION: In morning trading, shares of JPMorgan are fractionally down to $93.69, while PNC's stock has slipped about 0.6% to $132.79.

10:27 EDT Carnival says booking volumes for 2018 ahead of prior year - Says Booking volumes for 2018 are ahead of the prior year at higher prices. Forecasting a capacity increase of 2.2%. Expects depreciation to increase to $2.3B in 2018.

10:05 EDT Equifax deferring compensation package for retired CEO, CNBC reports - Equifax is deferring any compensation for retired CEO Richard Smith pending its board review, and he will not be paid an annual bonus for 2017, the company told CNBC's David Faber.

09:56 EDT Cascadian colorectal cancer treatment granted FDA orphan designation - Cascadian Therapeutics' treatment of HER2+ colorectal cancer was granted FDA orphan designation, according to a post to the agency's website. Reference Link

09:42 EDT Priceline CEO says 'always experimenting' with marketing plans - Priceline (PCLN) CEO Glenn Fogel said the company is always experimenting and changing its marketing spending and trying to find the best return. Asked specifically about trivago (TRVG), he said "one thing you never want to do is tell your competitors what you are going to do," and avoided mentioning trivago by name in his response. Fogel continues speaking at Skift's Global Forum NYC.

09:32 EDT Priceline CEO 'keeping eye' on blockchain, says will take longer than assumed - Priceline CEO Glenn Fogel said he and the company are "keeping an eye on blockchain," but the technology will take longer to impact the travel industry than many may think. Speaking further, Fogel said his experts within the company say there are "other things to worry about" before blockchain. Fogel is speaking at Skift's Global Forum NYC.

09:21 EDT Tyler selected by Gwinnet County, Georgia for case, land management solutions - Tyler Technologies signed an agreement with Gwinnett County, Georgia, for Tyler's Odyssey court case management and Eagle Recorder land record solutions. Odyssey will provide the county with a modern case management solution for the Superior, State, Magistrate, and Probate courts. The county will be able to use Tyler's dataXchange to easily share information in real time with the other metro Atlanta courts, including those in Fulton, DeKalb, Clayton, Rockdale and Spalding counties. In addition to Odyssey and eFileGA, this project will include the Eagle Recorder solution, which will enable the county to better manage recording and filing, imaging, indexing, and retrieval of property records and documents. Together with Odyssey, the solutions will help create streamlined processes for the various departments within the county.

09:19 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Ascena Retail (ASNA), up 17.5%... Synnex (SNX), up 8.3%... Red Hat (RHT), up 3.4%... Carnival (CCL), up 2.5%. ALSO HIGHER: Moleculin Biotech (MBRX), up 27.4% after announcing FDA approval of Annamycin IND. LOWER: Darden (DRI), down 2.6% after reporting quarterly results... Axovant Sciences (AXON), down 73.8% after its Phase 3 Mindset clinical trial did not meet its co-primary efficacy endpoints... PTC Therapeutics (PTCT), down 14.9% after the FDA posted advisory committee materials... Equifax (EFX), down 1.5% after announcing the retirement of CEO Richard Smith.

09:14 EDT Darden says 'very pleased' with new restaurant growth

09:08 EDT Equifax says special committee formed to focus on cybersecurity incident - Mark Feidler, who has newly been appointed by the Equifax board of directors to serve as Non-Executive Chairman, stated, "The Board remains deeply concerned about and totally focused on the cybersecurity incident. We are working intensely to support consumers and make the necessary changes to minimize the risk that something like this happens again. Speaking for everyone on the Board, I sincerely apologize. We have formed a Special Committee of the Board to focus on the issues arising from the incident and to ensure that all appropriate actions are taken. Our interim CEO, Paulino, is an experienced leader with deep knowledge of our company and the industry. The Board of Directors has absolute confidence in his ability to guide the company through this transition."

09:06 EDT American Eagle launches new customer loyalty program - American Eagle Outfitters announced the launch of AEO Connected, a new, highly-digitized loyalty program serving all American Eagle and Aerie customers. Over 16M current rewards members were immediately converted to AEO Connected, where they enjoy greater convenience, more rewards and an enhanced customer experience. AEO Connected Highlights include: Upgraded rewards for our best customers and brand advocates, full integration with AE and Aerie's branded credit cards, special perks for purchasing key items, jeans and bras, and exclusive member access to concerts, festivals and special events. Joining AEO Connected is free and can be done in stores, on the AEO mobile app or online. Customers are instantly awarded 500 points upon signing up, and begin earning rewards immediately. AEO Connected also offers enhanced perks for AE and aerie branded credit card customers, including free standard shipping and faster rewards.

09:05 EDT Equifax CEO Smith retires, company begins search for permanent replacement - The Board of Equifax announced that Richard Smith will retire as Chairman of the board and Chief Executive Officer, effective September 26. The board appointed current board member, Mark Feidler, to serve as Non-Executive Chairman. Paulino do Rego Barros, Jr., who most recently served as President, Asia Pacific, and is a seven-year veteran of the company, has been appointed as interim CEO, succeeding Smith. The Board will undertake a search for a new permanent CEO, considering candidates both from within and outside the company. Smith has agreed to serve as an unpaid adviser to Equifax to assist in the transition. "The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right. At this critical juncture, I believe it is in the best interests of the company to have new leadership to move the company forward," Richard Smith said.

09:05 EDT Edgewell Personal Care issues statement regarding Procter & Gamble lawsuit - Edgewell Personal Care (EPC) issued the following statement in response to Procter & Gamble Company's lawsuit regarding Schick Hydro Connect 5. " As a challenger company, we constantly strive to bring solutions, value and choice to consumers. We are offering refills which fit Gillette Fusion handles via schickhydro.com. These refills offer consumers a great shave and a great value. It isn't surprising that Gillette is doing whatever it can to try and stop us. As innovators ourselves, we have numerous patents, and take intellectual property very seriously. However, P&G's allegations in this instance are meritless. P&G has a history of using litigation in the face of competition. We have a long track record of successfully defending our innovation against similar tactics. We will vigorously defend ourselves against these unfounded claims."

09:03 EDT Kohl's CEO Kevin Mansell to retire in May 2018, Michelle Gass named CEO-elect - Kohl's announced Kevin Mansell, Kohl's Chairman, CEO and President will retire in May 2018 as of the close of the company's annual shareholders meeting. Michelle Gass will assume the CEO role at that time. Sona Chawla, Kohl's COO, will assume the role of President. Gass joined Kohl's in 2013 as Chief Customer Officer. Sona Chawla will maintain her responsibilities for the company's omnichannel operations including all store operations, logistics and supply chain network, information and digital technology, and e-commerce strategy, planning and operations. It is the intention of the Board to appoint one of its current independent members as Chairman of the Board effective upon Mansell's retirement at the close of the company's 2018 annual shareholders meeting and that Michelle Gass will be nominated to stand for election as a Director at that meeting to fill the vacancy created by Mansell's retirement.

09:02 EDT Kohl's appoints Michelle Gass as CEO-elect

09:02 EDT Kohl's CEO Kevin Mansell to retire in May 2018

09:01 EDT Darden says sees commodity inflation flat to 1% in FY18

08:57 EDT trivago acquires AI platform tripl - trivago announces the acquisition of the assets of tripl, a machine learning travel start-up from Hamburg. The acquisition will enhance trivago's product with personalization technology which uses both Big Data and a customer-centric approach. Following the acquisition, the former CTO and creator of the tripl algorithm, Hendrik Kleinwachter, will join trivago's development team to continue breaking new ground in personalization.

08:55 EDT PTC Therapeutics drops 18% after FDA posts documents for Thursday's panel

08:46 EDT MySize awarded first patent - My Size announced that the company has been awarded its first patent. Russia Patent No. 2628497 was granted to the company on August 17, 2017 for its Measurement of a Body Part smartphone application. The patent expires 20 years from the patent filing date, or January 20, 2033.

08:43 EDT Darden says expects impact of Hurricane Irma to be double that of Harvey - Says Irma impact factored into FY18 guidance.

08:39 EDT Darden says Hurricane Harvey impacted Q1 EPS by approximately 1.5c

08:35 EDT Pareteum Corp trading resumes

08:33 EDT Champions Oncology awarded $2M from National Cancer Institute - Champions Oncology announced the signing of a competitive contract through the government's Small Business Innovation Research program. The contract is in response to Topic 355 - Cell and Animal-Based Models to Advance Cancer Ethnic Health Disparity Research. Champions' direct-to-Phase II proposal, entitled "Metastatic Prostate Cancer Patient Derived Xenograft Modeling; A New Operating Paradigm". The contract is a 2-year, $2 million project. Champions' network of collaborating sites will contribute to this project. The project will build and study an ethnically diverse cohort of metastatic prostate patient-derived xenograft models. Fully characterized, ethnically diverse prostate PDX models are under-represented among PDX banks, limiting opportunities for pre-clinical and translational oncology studies. Not only is the incidence of prostate cancer higher in African American men than other ethnic groups, the mortality rates from prostate cancer for African American men are higher. A primary goal of this project is to create new tools to better understand the ethnic health disparity in prostate cancer. The project will leverage Champions' current quality management strategies for industrial scale PDX development and incorporate novel approaches and techniques to efficiently build and study new prostate PDX models. Champions has partnered with InnoGenomics, a molecular diagnostics technology innovator, to apply their proprietary, high-sensitivity liquid biopsy techniques to PDX models.

08:32 EDT OSI Systems receives $16M in orders for ETD systems - OSI Systems announced that its Security division has received orders valued at approximately $16M for ETD systems and related supplies and accessories from multiple customers, including several major airlines that seek to comply with the recent U.S. Department of Homeland Security directive for enhanced screening on U.S. bound passenger flights. In July 2017, DHS announced an enhanced security directive, requiring additional passenger screening at greater than 200 final points of departure to the United States. In response to this directive, air carriers were given various alternatives to achieve the additional screening measures, including the utilization of ETD systems. The company has ramped up production, installation, training and program management teams to support increased demand as a result of this directive.

08:31 EDT Gilead, Kite Pharma announce expiration of HSR waiting period - Gilead Sciences (GILD) and Kite Pharma (KITE) announced that the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to Gilead's cash tender offer for Kite expired at 11:59 p.m. on September 25. On September 8, Gilead and Kite filed the Premerger Notification and Report Forms required under the HSR Act with the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice. With the expiration of the waiting period, the tender offer is expected to close in the beginning of October, subject to customary closing conditions. Unless the tender offer is extended, the offer and withdrawal rights will expire at 12:00 midnight, New York City time, on October 3.

08:21 EDT Equifax trading halted, news pending

08:17 EDT Aduro Biotech advances ADU-S100 into combination trial with PDR001 - Aduro Biotech (ADRO) announced that the first patient has been dosed in the Phase 1b dose escalation and dose expansion clinical trial designed to evaluate the safety and efficacy of ADU-S100, a novel STING pathway activator, in combination with PDR001, Novartis' (NVS) investigational PD-1 checkpoint inhibitor, for the treatment of advanced/metastatic solid tumors or lymphomas. The trial, which is being conducted in collaboration with Aduro's partner, Novartis, is expected to enroll approximately 175 patients at sites located in the United States, Europe, Canada, Australia and Japan. In March 2015, Aduro and Novartis entered into a collaboration and license agreement relating to the global research, development and commercialization of immuno-oncology products derived from Aduro's proprietary STING pathway activator platform technology. Under the terms of the agreement, Aduro received an upfront payment from Novartis of $200M and a $35M development milestone upon initiation of the Phase 1 trial for ADU-S100 in May 2016, and if all development and regulatory milestones are met, is eligible to receive up to an additional aggregate amount of $465M.

08:10 EDT Hologic announces SmartCurve to deliver more comfortable mammogram - Hologic announced the commercial availability of its new SmartCurve breast stabilization system, which has been clinically proven to deliver a more comfortable mammogram without compromising image quality, workflow or dose. The SmartCurve system is available exclusively with Hologic's Genius 3D Mammography exam, the only mammogram that detects more invasive cancers, reduces false positives, and is FDA approved as superior to conventional 2D mammography for all women, including those with dense breasts.

08:08 EDT Pareteum Corp trading halted, news pending

08:07 EDT Ascendis Pharma announces dosing of subjects in Phase 1 trial of TransCon PTH - Ascendis Pharma announced that it has dosed subjects in a phase 1 trial of TransCon PTH, a long-acting prodrug of parathyroid hormone, or PTH, in development for the treatment of hypoparathyroidism. The single and multiple ascending dose phase 1 trial is designed to evaluate the safety, tolerability, pharmacodynamics, and pharmacokinetics of TransCon PTH in healthy adults. The trial evaluates single ascending doses and ten multiple daily doses of TransCon PTH.

08:05 EDT IZEA reports seven-figure contract with Fortune 500 company - IZEA is reporting several high-profile contract wins. During the third quarter, IZEA has received a seven-figure contract renewal with a Fortune 500 financial services company for custom content and influencer marketing services. The company has also signed contracts in excess of a quarter million dollars with a Fortune 500 media company, a multi-national food conglomerate and a consumer products manufacturer. In addition, IZEA has established a new master services agreement with a top 10 global retailer and the related contract for a six-figure influencer marketing campaign. IZEA will be announcing Q3 bookings on October 10.

08:04 EDT Erin Energy provides update on Ghana - Erin Energy Corporation announced that the Special Chamber of the International Tribunal of the Law of the Sea in Hamburg issued its final judgement with regard to the maritime boundary dispute between Ghana and Cote d'Ivoire. The maritime boundary delimited by the Special Chamber's decision does not negatively impact any of the discovered fields on the company's Expanded Shallow Water Tano block. The company is working with the Government of Ghana and its partners to progress operational activities and planning of the 3D marine seismic survey. The decision also has no negative impact or otherwise on the company's interests in Ghana. The company has 337,000 acres in Ghana, and has three discovered fields with 2C resources.

08:03 EDT Albireo Pharma says EMA PDCO agrees to A4250 PIP - Albireo Pharma announced that the Paediatric Committee, or PDCO, of the European Medicines Agency, or EMA, has agreed to Albireo's pediatric investigation plan, or PIP, for lead product candidate A4250 in patients with progressive familial intrahepatic cholestasis, or PFIC. PFIC is a rare and life-threatening genetic liver disease for which there are currently no approved drug therapies. As part of the regulatory process for the registration of new medicines with the EMA, companies are required to agree with PDCO on a PIP that outlines a development program for the investigational product in the pediatric population. The agreed PIP for A4250 includes Albireo's previously announced double-blind, placebo-controlled, Phase 3 clinical trial in patients with PFIC, ages six months to 18 years, as well as Albireo's completed Phase 2 study of A4250 in children with cholestatic liver disease. In addition, the PIP includes a small clinical trial in neonates with PFIC, which will be deferred until after completion of the planned Phase 3 trial, and the development of a liquid formulation.

08:01 EDT CB&I awarded contract by Phillips 66 - CB&I announced it has been awarded a contract by Phillips 66 to increase storage capacity at Phillips 66's liquid products terminal in Nederland, Texas. CB&I's scope of work encompasses the engineering, procurement, fabrication and erection of three large crude oil storage tanks with external steel pontoon type floating roofs.

07:46 EDT Jacobs Engineering awarded ESSCA contract from NASA - Jacobs Engineering Group was awarded a contract to perform engineering, science and technical services at NASA's Marshall Space Flight Center in Huntsville, Alabama. The Engineering Services and Science Capability Augmentation contract has a potential value of $1.12B with a four year base period of performance and two option periods with a duration of two years. The contract enables Jacobs to continue providing critical science and engineering and technical support for flagship NASA programs including the Space Launch System, International Space Station and numerous space science and technology development projects.

07:39 EDT IMAX, IMAX China Holding and Dadi Cinema Group announce sales agreement - IMAX, IMAX China Holding and Dadi Cinema Group announced a sales agreement for five IMAX theatres to be added to new multiplexes in First-, Second- and Third-Tier cities in the People's Republic of China. In January, Dadi Cinema Group acquired the mainland cinemas of Chinese exhibitor Orange Sky Golden Harvest Cinemas, an IMAX partner with a total of five IMAX theatres in China. Inclusive of the acquisition, today's agreement brings Dadi Cinema's IMAX footprint to 10 theatres, with the five Orange Sky Golden Harvest IMAX sites currently in operation.

07:32 EDT Accuray: 10-year data shows CyberKnife controls low-risk prostate cancer - Accuray announced that data from a prospective study of 230 men with low-risk prostate cancer showed 98.4% had local disease control 10 years after receiving stereotactic body radiation therapy administered with the CyberKnife System, and toxicity was mild. The study titled, "Stereotactic Body Radiotherapy for Low-Risk Prostate Cancer: A Ten-Year Analysis," was published online in the September 9, 2017 issue of Cureus. "This is a groundbreaking study -- the first to report on the efficacy and toxicity of SBRT in the treatment of low-risk prostate cancer following 10 years of treatment. All patients participating in the study were treated with the CyberKnife System, which delivers extremely precise radiation treatments using unique, real-time image guidance and automatic motion correction. The study outcomes were excellent both in terms of disease control and tolerability, and were superior to long-term conventional intensity-modulated radiation therapy, based on results from other studies," said Alan Katz, M.D., Flushing Radiation Oncology.

07:31 EDT Engility awarded $49M contract to deliver advanced R&D servies to Air Force - Engility Holdings announced that it won a $49M contract to continue to support the U.S. Air Force Research Laboratory in its Kinetic Kill Hardware-in-the-Loop Simulation Technology for Advanced Research program. Through KSTAR, Engility will help the government assess high-end next generation weapon-system concepts for the next five years. Engility has partnered with AFRL since 2000 to support next generation weapon system infrastructure. The third quarter 2017 award is a single award IDIQ with a 5-year period of performance with cost-plus-fixed-fee task orders and represents recompete work.

07:30 EDT Axovant Sciences trading resumes

07:18 EDT MagneGas awarded $1.9M order and announces plan for joint venture - MagneGas announced that it has received a preliminary purchase order for a $1.9M gasification unit. In addition, the Company announced it plans to form a joint venture, in which it will hold a 40% minority stake and will include a commitment from the European partner to purchase multiple gasification units from MagneGas in the near term. The prospective European partner has conducted extensive marketing and business validation, along with a top tier global consulting firm, and has generated significant interest among potential customers, including leading companies in the shipping, heavy industry, transportation and agricultural sectors.

07:15 EDT Pluristem receives 'positive' feedback from FDA, EMA for PLX-PAD Phase III trial - Pluristem Therapeutics has reported the status of its planned Phase III hip fracture study. In previous discussions held with the FDA and the European Medicine Agency, the company received positive feedback on the proposed study design and endpoints of its Phase III trial in PLX-PAD cells as a treatment for muscle recovery following arthroplasty for hip fracture. This trial was recently awarded an $8.7M grant by the Horizon 2020 program, the European Union's largest research and innovation program. The proposed Phase III trial is intended to support marketing authorization and will be a double-blind, randomized, placebo-controlled trial with approximately 180 patients enrolled in clinical sites across the U.S. and Europe. Patients will be injected intramuscularly with 150 million PLX-PAD cells during arthroplasty for hip fracture. The primary endpoint for the trial will be the change of Short Physical Performance Battery, or SPPB, from baseline to six months after surgery. Additional endpoints may include objective measurements of muscle strength and muscle volume. This Phase III trial follows positive results from a Phase I/II trial which demonstrated significant muscle regeneration when PLX-PAD cells were injected following arthroplasty, including a 300% improvement in muscle volume and a 500% boost in muscle force when observed six months after surgery compared to the control group.

07:13 EDT China Jo-Jo Drugstore opens three stores in Lin'an District of Hangzhou - China Jo-Jo Drugstores has opened three stores in the newly established Lin'an District of Hangzhou. There are now four China Jo-Jo drugstores in Lin'an District and the Company plans to open two more stores by the end of the year.

07:12 EDT Trecora Resources announces estimates for Guyan Gold Project - Trecora Resources announced that the results of a Mineral Resource Estimate, or MRE, for the Guyan Gold Project currently being explored and developed by the Al Masane Al Kobra Mining have been released. Trecora is currently a 33.4% owner of AMAK, which is a Saudi Arabian Joint Stock Company located in the Kingdom of Saudi Arabia. Highlights include: indicated and Inferred Mineral Resource of 563kt, at 5.5g/t Au, for 99koz gold; Guyan Gold Project is favorably located near the operating Al Masane mine and processing plant; progress to Pre-Feasibility Study in Q4-2017 to confirm synergies with existing plant and mine infrastructure; and completion of 130 diamond drill holes in 2016 and expect further down-dip and extension drilling to re-commence in Q4-2017 and continue in 2018.

07:08 EDT Kratos Defense receives $9.7M in contract awards - Kratos Defense announced that its Unmanned Systems Division has recently received $9.7M in contract awards from National Security related customers for the production and delivery of multiple high performance unmanned aerial drone system aircraft and related mission support, technical, development and other services. USD is an industry innovator and leading provider of affordable, high performance jet powered unmanned aerial drone systems utilized for tactical missions and target applications. Work under these contract awards will be performed at secure USD manufacturing facilities, customer sites, and other locations. Due to the nature of the work being performed, customer related, competitive and other considerations, no additional information will be provided related these contract awards.

07:06 EDT Axovant Phase 3 Alzheimer's study misses co-primary endpoints - Axovant Sciences announced that the Phase 3 Mindset clinical trial of its investigational drug intepirdine in patients with mild to moderate Alzheimer's disease who were receiving background donepezil therapy did not meet its co-primary efficacy endpoints. At 24 weeks, patients treated with 35 mg of intepirdine did not experience improvement in cognition or in measures of activities of daily living as measured by the Alzheimer's Disease Assessment Scale-Cognitive Subscale and by the Alzheimer's Disease Cooperative Study-Activities of Daily Living scale, respectively, compared to patients treated with placebo. In the study, intepirdine was generally well tolerated, the company added. After 24 weeks of treatment, change from baseline in cognition was non-significantly improved in the intepirdine arm versus the placebo arm. In addition, there was essentially no difference between the intepirdine and placebo arms in change from baseline in activities of daily living. Of the endpoints analyzed to date, the only endpoint in which any significant improvement was seen in the intepirdine arm versus the placebo arm was in the first key secondary endpoint, the Clinician Interview-Based Impression of Change plus caregiver interview, or CIBIC-plus. Axovant said, "The Company will work with investigators to conclude the MINDSET open-label extension study. " David Hung, CEO of Axovant, added, "While we are deeply disappointed by these trial results, we also are saddened for the millions of patients and families impacted by Alzheimer's disease. However, we believe that the fight against Alzheimer's and other important areas of unmet need in neurology is too important to be derailed by this setback.... We remain committed to advancing our pipeline." Axovant shares remain halted. They closed yesterday down 6c to $22.59.

07:06 EDT MiMedx announces confidential lawsuit settlement with terminated employee - MiMedx Group announced that the Company has agreed to a confidential lawsuit settlement from one terminated employee. MiMedx has settled its lawsuit with former employee, Harold Purdy. In this settlement, Purdy has agreed to pay a substantial six figure settlement to MiMedx as restitution and to reimburse litigation expenses. Harold Purdy said, "Although I originally filed counter-claims, I learned through the discovery process that I was incorrect. I am therefore dismissing those claims and we have settled this case, and I apologize for my error. I do not have any personal knowledge about alleged 'channel-stuffing' by the Company." In fact, in sworn testimony, Purdy admitted that all of the MiMedx product he sold into his accounts was used, was not returned, and ordering patterns in the following months were not affected.

07:05 EDT Azure Power awarded 260 MW solar project in Gujarat - Azure Power announced that it has won a 260 MW solar project in an auction conducted by Gujarat Urja Vikas Nigam Ltd. The 260 MW allocation is the largest allocation by GUVNL to a solar power developer, 52% of the total allocated capacity of 500 MW announced. Azure Power will provide power for 25 years to GUVNL which has been rated AA- by ICRA, a Moody's company, at a tariff of INR 2.67 per kWh. The project will be developed by Azure Power outside a solar park and is likely to be commissioned in 2019.

07:03 EDT Darden reports Q1 Olive Garden same-restaurant sales up 1.9%

07:03 EDT Moleculin Biotech announces FDA approval of Annamycin IND - Moleculin Biotech announced that the FDA has advised Moleculin it may begin clinical trials of Annamycin in the treatment of relapsed or refractory Acute Myeloid Leukemia. The FDA's determination came after the agency completed its safety review of information and a proposed protocol submitted by Moleculin in an Investigational New Drug application.

07:02 EDT Akebia: Phase 2 vadadustat study showed SS improvements in primary endpoint

07:02 EDT Akebia: Phase 3 vadadustat study in Japan expected to commence by end of year

07:01 EDT BioLineRx begins Phase 1b/2 trial for BL-8040 with atezolizumab - BioLineRx announced the initiation of a Phase 1b/2 trial for BL-8040 in combination with atezolizumab, an anti-PDL1 cancer immunotherapy from Genentech, a member of the Roche Group. The trial, known as the BATTLE study, will focus on the maintenance treatment of patients with intermediate and high-risk acute myeloid leukemia who have achieved a complete response following induction and consolidation therapy. Up to 60 patients are planned to be enrolled in this multicenter, single arm, open-label study, to evaluate the relapse-free survival, minimal residual disease status, safety and tolerability of the combination of BL-8040 and atezolizumab for maintenance treatment in AML patients. The study's primary endpoint is to assess whether the combination of BL-8040 and atezolizumab prolongs relapse free survival. In addition, the effect of the combination therapy on minimal residual disease, multiple immunological parameters and potential biomarkers will be evaluated.

06:58 EDT Lannett revceives approval for Dexmethylphenidate Hydrochloride Tablets - Lannett announced that it received approval from the FDA of its Abbreviated New Drug Application, or ANDA, for Dexmethylphenidate Hydrochloride Tablets, 2.5 mg, 5 mg, and 10 mg, the therapeutic equivalent to the reference listed drug, Focalin Tablets, 2.5 mg, 5 mg, and 10 mg, of Novartis Pharmaceuticals Corporation. For the 12 months ended July 2017, total U.S. sales of Dexmethylphenidate Hydrochloride Tablets, 2.5 mg, 5 mg, and 10 mg, at Average Wholesale Price, or AWP, were approximately $34M, according to IMS.

06:41 EDT Lannett announces dismissal of class action lawsuit - Lannett Company announced that the United States District Judge for the Eastern District of Pennsylvania dismissed in its entirety a putative class action lawsuit against a multitude of generic drug manufacturers including Lannett alleging claims under Pennsylvania state law for violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law, negligent misrepresentation, unjust enrichment, civil conspiracy, and aiding and abetting.

06:34 EDT ChromaDex announces results of second human clinical study of NIAGEN - ChromaDex announced that the initial results of its second human clinical study of NIAGEN nicotinamide riboside chloride, or NR, have confirmed NR significantly and sustainably raises the co-enzyme nicotinamide adenine dinucleotide, or NAD+, in 140 healthy human volunteers over 8-weeks. In this study, participants in the active group received 100, 300, or 1000mg per day. Results from the randomized, double-blind, placebo controlled, parallel-arm trial demonstrated that NR produced statistically significant increases in blood NAD+ compared to placebo that were related to the dose of NR consumed, demonstrating a dose response. Levels remained elevated throughout the duration of the study, thereby establishing an efficacious range for daily consumption. The study confirms not only efficacy in raising NAD+, but also definitively documents the safety of daily use of NR. The full results of the study will be submitted for publication in a peer review journal shortly.

06:31 EDT SAIC awarded $250M contract by USDA - The U.S. Department of Agriculture, or USDA, awarded Science Applications International the Information Technology Governance, Management, Strategy and Security blanket purchase agreement to provide enterprise architecture and security support services to the USDA. The multiple-award agreement has a five year period of performance, and a ceiling value of $250M for all awardees. SAIC is one of two awardees. As part of the agreement, awarded under GSA's IT Schedule 70 contract vehicle, SAIC will provide enterprise architecture, capital planning, and security support services that will streamline and standardize architectures and roadmaps across the USDA.

06:22 EDT Verizon Foundation commits $1M to support Puerto Rico in wake of Hurricane Maria - Verizon has announced support for the residents of Puerto Rico through a $1M pledge to fund Hurricane Maria relief efforts. The wireless provider has partnered with the American Red Cross and World Vision. "The people of Puerto Rico need our help," said Verizon Chairman & CEO Lowell McAdam. "Verizon is committed to supporting communities struggling in the aftermath of Hurricane Maria, as we've done with Harvey and Irma. We will be working with local network operators, our nonprofit partners and, of course, our employees to assist the Puerto Rican people in rebuilding their lives and I encourage anyone with the means and opportunity to do so to come to their aid." In an effort to provide further financial support to residents of Puerto Rico, Verizon will match employees' contributions, dollar-for-dollar, to select hurricane relief-focused organizations.

06:18 EDT Microsoft replacing Skype for Business with Microsoft Teams service - Microsoft is replacing Skype for Business with its new Microsoft Teams service, the company said in a blog post. "To achieve our vision for intelligent communications, we are bringing comprehensive calling and meetings capabilities into Teams, along with data and insights from the Microsoft Graph, and a strong roadmap of innovation to empower teams to achieve more. All of this is being built on a new, modern Skype infrastructure for enterprise-grade voice and video communications. Our next generation, cloud-born architecture is already powering communication experiences in Teams, and is evolving rapidly. We are excited about this new infrastructure because it will provide both speed of innovation as well as higher quality communication experiences. As we build out these capabilities, Teams will evolve as the primary client for intelligent communications in Office 365, replacing the current Skype for Business client over time." Reference Link

06:12 EDT ABB, Northvolt sign MOU for European battery factory - ABB and Northvolt have signed a Memorandum of Understanding for a wide-ranging supply and technology partnership, including products and services for Northvolt's state-of-the-art lithium-ion battery factory and close collaboration on development of battery solutions and R&D activities. ABB Technology Ventures will support the initial phase of this project through an early investment. Northvolt is going to build a lithium-ion battery factory in Sweden. "Supported by ABB's industrial automation expertise, integrating robotics, machine and factory automation, electrification and ABB Ability, ABB's unified, cross-industry digital offering, into one overall solution, the factory will supply European customers in the automotive and key industries with high quality and customizable battery solutions," the companies said. The factory is expected to start production in 2020. A demonstration-line will be ready by 2019 and will allow Northvolt to continuously optimize products and processes.

06:06 EDT IHS Markit acquires automotiveMastermind - IHS Markit announced the acquisition of automotiveMastermind, the leading provider of predictive analytics and marketing automation software for the automotive industry. IHS Markit acquired approximately 78% of automotiveMastermind for a purchase price of approximately $392M, which can increase up to $435M tied to underlying business performance. IHS Markit will acquire the remaining 22% over the next five years based on valuation tied to underlying business performance.

06:03 EDT IHS Markit sees FY17 adjusted EBITDA at low-to mid-point of $1.375B-$1.4B

06:01 EDT Western Digital provides further detail on legal process related to Toshiba - Western Digital (WDC) provided further detail on the legal process related to the three NAND flash-memory joint ventures operated with Toshiba (TOSBF, TOSYY). John Hueston, counsel for Western Digital and partner of Hueston Hennigan LLP, stated, "Western Digital's SanDisk subsidiary has been a good partner to Toshiba, has honored its commitments and obligations to the joint ventures, and has been steadfast in its efforts to reach a mutually agreeable resolution. Toshiba has resorted to retaliatory actions against its JV partner to try to coerce SanDisk to surrender its consent rights, including its lockout of Western Digital employees in June and its attempt to exclude SanDisk from certain capacity investments - neither of which has any legal basis. Absent any willingness on Toshiba's part to resolve this matter with its JV partner in a constructive manner, we intend to continue our successful legal efforts into the binding arbitration process." The arbitration proceedings will be held in San Francisco, California, per the terms of the Flash JV agreements. Each arbitration matter will be decided by an arbitral tribunal of three impartial arbitrators. On September 20, 2017, Toshiba announced its intention to transfer its interests in the Flash JVs to a consortium led by Korea-based SK Hynix Inc. and Bain Capital. Western Digital commented: We are disappointed that Toshiba would take this action despite Western Digital's tireless efforts to reach a resolution that is in the best interests of all stakeholders. Throughout the course of the negotiations, we made numerous concessions to attempt to meet Toshiba's needs. Most notably, we offered to withdraw our participation in the Innovation Network Corporation of Japan ("INCJ") and KKR & Co. L.P. ("KKR") consortium, thus minimizing regulatory risk, and eliminate our option to participate in TMC equity ownership going forward, thus directly addressing a key concern of TMC's management team. Furthermore, in the event Toshiba selected the INCJ/KKR consortium, SanDisk was prepared to provide its consent and agree to the immediate, mutual withdrawal of all litigation with Toshiba. These significant concessions - made in the spirit of a 17-year partnership - would have not only provided significant deal certainty and an expedient closing, but also would have fully addressed Toshiba's needs. It is concerning, therefore, that Toshiba would choose to partner with a consortium that includes both competitors and customers, giving rise to the potential to not only weaken the JVs going forward, but introducing regulatory risk that did not exist in the proposal offered by INCJ/KKR. Moreover, we believe SK Hynix's participation in the chosen consortium heightens the risk of technology leakage from the JVs and Japan. In addition to being a competitor to both Toshiba and Western Digital, SK Hynix was recently at the center of a well-publicized theft of Toshiba and SanDisk's trade secrets. Just two years ago, SK Hynix made substantial monetary and business concessions to Toshiba and SanDisk to settle claims brought by both companies that SK Hynix misappropriated critical JV technology. There has never been a more critical time for Toshiba to pursue the right course of action - a course that promises clarity and certainty. And yet, Toshiba has chosen to pursue a path that jeopardizes our 17-year partnership and cumulative joint investments in the Flash JVs, not to mention substantially increases risk for Toshiba stakeholders and the company itself.

05:58 EDT Nestle confirms mid-single organic growth target for 2020 - Sees underlying trading operating profit margin target of 17.5% to 18.5% by 2020. At its investor seminar today in London, Nestle will present its strategy for sustainable value creation. The company will detail how it will reach its mid-single digit organic growth target by 2020, and will announce an underlying trading operating profit margin target of 17.5% to 18.5% by 2020, up from 16.0% in 2016. Nestle will describe its plans to accelerate organic sales growth, building on its industry-leading volume growth, by capitalizing on recent key consumer trends in categories and markets around the world. Food and beverages remain core to the company's strategy, with a continued focus on nutrition, health and wellness enabling the company to meet changing consumer demands. Nestle's strategy balances growth with increased cost discipline and margin expansion as well as improved capital efficiency. Nestle will pursue external growth opportunities that fit within targeted categories and geographies, deliver attractive returns, and build on the company's leadership positions. Nestle is actively adjusting its product portfolio in line with this strategy, as shown by the recent investments in Blue Bottle Coffee, Sweet Earth, and Freshly, as well as the decision to explore strategic options for its U.S. confectionery business.

05:54 EDT AXIS Capital to acquire shares of Novae Group - Following consultation with the European Commission, and in accordance with applicable regulations, AXIS Capital Holdings will complete its acquisition of Novae Group in two phases, beginning with the acquisition of Novae shares, expected to occur on October 2, 2017. This is to be followed by management control and integration of the combined businesses upon receipt of final European Commission approval, which is expected no later than October 18. AXIS and Novae entered into a Scheme of Arrangement on July 5, 2017, whereby AXIS would acquire all of the shares of Novae to form a combined business. On August 29, AXIS announced that Novae shareholders had approved the Scheme of Arrangement.

05:49 EDT Amazon Music brings Alexa to mobile music streaming - Amazon says that Alexa is now available in the Amazon Music app on iOS and Android in the US, UK, Germany and Austria, "combining the power of natural language voice controls with a rich, visual app experience. Tens of millions of songs are now at the tip of your tongue as well as the tips of your fingers - wherever you go. Music listeners now have more choice than ever to find the music they want to play: either browse the app interface that Amazon Music customers already love, or just ask Alexa. To access Alexa within the Amazon Music app, simply use the push-to-talk function within the Amazon Music app for iOS and Android on connected mobile devices and tablets. Millions of Alexa customers have enjoyed listening to music on Echo devices, and with Amazon Music's innovative Alexa voice controls, customers can ask for music based on genre, decade, mood, tempo, activity or even the lyrics if they can't remember the name of a song. With Alexa in the Amazon Music app, listeners can utilize the power and simplicity of voice functionality, wherever they are."

05:37 EDT U.S. Steel, Kobe Steel announce new investment in CGL at subsidiaries JV - U.S. Steel and Kobe Steel have announced their agreement to begin construction of a new continuous galvanizing line, or CGL, at their subsidiaries' joint venture, PRO-TEC Coating Company in Leipsic, Ohio, in response to an increased demand for advanced high-strength steels, or AHSS. The new CGL, an investment of approximately $400M, will have a yearly capacity of 500,000 tons. This line, which will utilize a proprietary process, will be capable of coating steel that will help automakers manufacture economically lightweight vehicles to meet increasing fuel efficiency requirements while maintaining exceptionally high safety standards. Construction is expected to begin in the fourth quarter of 2017 and the line is expected to commence startup in 2019.