Stockwinners Market Radar for October 06, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:31 EDT TerraForm Power says Brookfield deal to close on October 16 - TerraForm Power (TERP) announced that the company's stockholders approved the previously announced Merger and Sponsorship Transaction with certain affiliates of Brookfield Asset Management Inc. (BAM) and that the Merger and Sponsorship Transaction will close on Monday, October 16, 2017. Pursuant to the terms of the Transaction Agreement, the company also announced that the deadline for stockholders to submit an effective form of election with respect to the form of consideration they would like to receive in connection with the Merger and Sponsorship Transaction is Thursday, October 12, 2017 at 5:00 p.m. New York City time. Stockholders who own their stock through a bank or brokerage firm may be subject to an earlier election deadline as set by their applicable bank or brokerage firm. At a special meeting of the stockholders of the Company held on October 6, 2017, stockholders voted to approve and adopt the Merger and Sponsorship Transaction Agreement, approve an amendment to the company's Certificate of Incorporation, and approve certain compensation arrangements for the company's named executive officers in connection with the merger and other transactions contemplated by the Merger and Sponsorship Transaction Agreement. Upon the closing of the merger, depending on the form of consideration stockholders elect, stockholders will be entitled to either receive $9.52 in cash or retain one share of Class A common stock, par value $0.01 per share, in the Company for each share of the Company's Class A common stock owned immediately prior to the merger. The election is subject to proration based on the number of shares for which stockholders have elected each type of consideration, as described more fully in the company's definitive proxy statement filed with the SEC on September 6, 2017. Also on October 6, 2017, the board of directors of the company formally declared a previously announced special dividend of $1.94 per share on its shares of Class A common stock. The special dividend will be payable in cash to Class A stockholders of record on the closing date, October 16, 2017, immediately prior to the effective time of the merger.

18:09 EDT PacWest Bancorp, CU Bancorp receive all regulatory approvals for deals - PacWest Bancorp (PACW) and CU Bancorp (CUNB) announced that all required regulatory approvals for the mergers of CUB into PacWest and California United Bank into Pacific Western Bank have been received. Subject to the satisfaction of the remaining closing conditions, the mergers are expected to be consummated at the close of business on October 20, 2017.

17:36 EDT Hodges Capital reports 5.2% passive stake in Solaris Oilfield

17:31 EDT Ellington Financial reports estimated book value per share $19.24 on Sept. 30 - Or $18.96 on a diluted basis.

17:30 EDT On The Fly: After Hours Movers - HIGHER: Inotek Pharmaceuticals (ITEK), up 3.8% after Opaleye Management reported a 5.76% passive stake in the company... Flexion (FLXN), up 2.7% after it said that Zilretta received FDA approval. LOWER: Limoneira (LMNR), down 6.8% after CEO Harold Edwards disclosed the sale of 6,652 common shares of the company... Medtronic (MDT), down 1.9% after it said it estimates an impact to both revenue and adjusted earnings up to $250M in the fiscal 2018 second quarter due to Hurricane Maria.

17:25 EDT Tesla's diversion of resources to fix Model 3 bottlenecks delay Semi unveil - Shares of Tesla are down fractionally to $355 per share in after-hours trading.

17:17 EDT Amedisys promotes Scott Ginn to CFO - Amedisys announces the promotion of Scott Ginn to CFO, effective immediately. Gary Willis has resigned his position as CFO and accepted an executive VP and CFO position with another healthcare company.

17:07 EDT AbbVie reports 5.5% stake in Exicure

17:04 EDT YuMe to streamline certain operations - On October 2, YuMe adopted a plan to restructure and streamline certain of its operations to further reduce the company's operating expenses and streamline and focus its European operations on its programmatic business. The company anticipates that the restructuring plan will focus on its operations in the United Kingdom, will be implemented before the end of the first quarter of 2018 and is currently expected to result in fourth quarter 2017 cost savings between approximately $0.4M and $0.6M. The main elements of the company's restructuring plan include a workforce reduction and real estate consolidation focused in the United Kingdom. As part of the restructuring plan, the company expects to reduce its workforce by approximately 3% by the end of 2017. The changes to the workforce will be governed by local legal requirements, as appropriate. In the fourth quarter of 2017, the Company currently expects the workforce reduction to result in one-time severance costs of approximately $0.2M and all other actions under the plan, including the real estate consolidation, to result in costs between approximately $0.1M and $0.3M.

16:41 EDT AK Steel to implement electrode surcharge for all stainless product shipments - AK Steel announced that it will implement an electrode surcharge for all stainless product shipments effective October 29. The addition of this surcharge is necessary due to the recent and significant increase in the cost of graphite electrodes, which are used in the production of stainless steel grades in the steelmaking operations of the company. The monthly electrode surcharge amount will be the same for all stainless grades produced by AK Steel, and will be listed in the company's existing monthly surcharge publication. The electrode surcharge amount will be $13.20 per ton for shipments in November.

16:32 EDT CIT Bank, N.A. to sell Financial Freedom, reverse mortgage portfolio - CIT Bank, N.A., the bank subsidiary of CIT Group, announced that it has reached an agreement to sell its reverse mortgage servicing business, Financial Freedom, and its reverse mortgage portfolio to an undisclosed buyer. The transaction includes the sale of mortgage servicing rights and approximately $900M of reverse mortgage whole loans, including other real estate owned assets as of June 30, 2017. The transaction is expected to close in the second quarter of 2018 and is subject to certain regulatory and investor approvals and other customary closing conditions.

16:31 EDT Medtronic estimates financial impact from Hurricane Maria - Medtronic estimates an impact to both revenue and adjusted net earnings of up to $250M in 2Q18.

16:23 EDT Tesla delays all-electic semi truck unveiling to November 16 from October 26 - The CEO of Tesla, Elon Musk, said in a tweet, "Tesla Semi unveil now Nov 16. Diverting resources to fix Model 3 bottlenecks & increase battery production for Puerto Rico & other affected areas."

16:18 EDT Enova International comments on CFPB Small Dollar Rule - Enova International has completed a preliminary assessment of the Small Dollar Rule released yesterday by the Consumer Financial Protection Bureau. Over the past several years, Enova has rapidly diversified its product offerings to meet consumer preferences for credit. After reviewing the final rule, the company anticipates that if it is implemented without additional changes, products that today comprise approximately 15% to 20% of its second quarter 2017 total revenue will be subject to the short-term loan specific portions of the rule. Domestic products that represent an additional 50% to 55% of revenue may be subject to the changes to the payment pre-authorization process. Enova estimates that revenue for the impacted products would experience less than a 10% decline from current levels. This initial assessment does not take into account potential offsets from changes in the competitive landscape as a result of the final rule, any changes in state regulation or Enova's ongoing diversification efforts. "We are confident in our ability to successfully adapt to these new regulations," said David Fisher, Enova's CEO. "Our technology and experience provide us with a measurable advantage as we take the steps needed to ensure our U.S. consumer products comply with this new regulation. We've worked diligently to diversify our business, which has created significant growth in our installment and line of credit products, resulting in reduced exposure to this rule. We've seen very strong demand in our longer-term products offered by NetCredit, renewed growth in our U.K. business, success in building our small business and Brazil offerings, and good customer interest in Enova Decisions, our Analytics as a Service offering."

16:16 EDT OMA Airports reports September passenger traffic down 2.6% - OMA Airports reports that terminal passenger traffic at its 13 airports decreased 2.6% in September 2017, as compared to September 2016. Domestic traffic decreased 2.8%, and international traffic decreased 1.2%. Domestic traffic increased in Culiacan and Ciudad Juarez as a result of increased traffic on their Guadalajara routes. Total available seats decreased 6.8% in September 2017.

16:06 EDT Ridgedale Partners reports 9.8% passive stake in Versar

15:38 EDT Bombardier: Commerce Department decision 'egregious overreach' - Bombardier (BDRBF) issued a statement on the Commerce Department's preliminary decision on antidumping duties: "We strongly disagree with the Commerce Department's preliminary decision. It represents an egregious overreach and misapplication of the U.S. trade laws in an apparent attempt to block the C Series aircraft from entering the U.S. market, irrespective of the negative impacts to the U.S. aerospace industry, U.S. jobs, U.S. airlines, and the U.S. flying public. The Commerce Department's approach throughout this investigation has completely ignored aerospace industry realities. Boeing's (BA) own program cost accounting practices - selling aircraft below production costs for years after launching a program - would fail under Commerce's approach. This hypocrisy is appalling, and it should be deeply troubling to any importer of large, complex, and highly engineered products. Commercial aircraft programs require billions in initial investment and years to provide a return on that investment. By limiting its antidumping investigation to a short 12-month period at the very beginning of the C Series program, Commerce has taken a path that inevitably would result in a deeply distorted finding. We remain confident that, at the end of the processes, the U.S. International Trade Commission will reach the right conclusion, which is that the C Series benefits the U.S. aerospace industry and Boeing suffered no injury. There is wide consensus within the industry on this matter, and a growing chorus of voices, including airlines, consumer groups, trade experts, and many others that have come forward to express grave concerns with Boeing's attempt to force U.S. airlines to buy less efficient planes with configurations they do not want and economics that do not deliver value. The U.S. government should reject Boeing's attempt to tilt the playing field unfairly in its favor and to impose an indirect tax on the flying public through unjustified import tariffs. Commerce's statement that Bombardier is not cooperating with the investigation is a disingenuous attempt to distract from the agency's misguided focus on hypothetical production costs and sales prices for aircraft that will be imported into the United States far in the future. As we have explained repeatedly to the Department, Bombardier cannot provide the production costs for the Delta aircraft for a very simple reason; they have not yet been produced. Commerce's attempt to create future costs and sales prices by looking at aircraft not imported into the United States is inappropriate and inconsistent with the agency's past practices. This departure from past precedent and disregard of well-known industry practices is an apparent attempt to deprive U.S. airlines from enjoying the benefits of the C Series, even though Boeing abandoned the segment of the market served by the C Series more than a decade ago. This action also puts thousands of high-technology U.S. jobs at risk given the C Series' significant U.S. content. More than half of each aircraft's content, including its engines and major systems, is sourced from U.S. suppliers. Going forward, the C Series program will generate more than $30B in business for U.S. suppliers and support more than 22,700 jobs in the United States."

15:36 EDT Primecap Management reports 5.58% passive stake in HP Enterprise

15:20 EDT Flexion trading resumes

15:01 EDT Flexion's Zilretta receives FDA approval - Flexion Therapeutics announced that the U.S. Food and Drug Administration approved Zilretta, the first and only extended-release, intra-articular injection for osteoarthritis knee pain. Zilretta is a non-opioid medicine that employs Flexion's proprietary microsphere technology to provide proven pain relief over 12 weeks. "The approval of Zilretta marks a major advancement in the treatment landscape for managing OA knee pain," said Michael Clayman, M.D., President and Chief Executive Officer of Flexion. "It comes at a time when our society is in urgent need of non-addictive therapies to help the millions of Americans who suffer from this condition." Dr. Clayman added, "We believe that Zilretta has the potential to be a transformative medicine for the more than five million patients who receive an intra-articular injection for OA knee pain each year." The FDA approval of Zilretta is based upon data from Flexion's pivotal Phase 3 clinical trial. The randomized, double-blind study enrolled 484 patients at 37 centers worldwide.

14:59 EDT Box Office Battle: 'Blade Runner 2049' expected to win weekend - Opening this weekend, and expected to easily win the box office, is Time Warner's (TWX) Warner Bros. "Blade Runner 2049," the sequel to the 1982 science fiction classic "Blade Runner." "Blade Runner 2049," which stars Harrison Ford and Ryan Gosling, is expected to open domestically in the $45M-$55M range. Comcast (CMCSA, CMCSK) subsidiary Universal's crime thriller "American Made," starring Tom Cruise and Jesse Plemons, is expected to earn $9M-$10M in its second weekend at theaters. 21st Century Fox (FOX, FOXA) disaster drama "The Mountain Between Us," starring Kate Winslett and Idris Elba, is expected to open domestically in the $9M-$10M range. 21st Century Fox's "Kingsman: The Golden Circle," the sequel to 2015 action film "Kingsman," is expected to earn an additional $8M-$9M in its third weekend at theaters. Other publicly traded companies in filmmaking include Disney (DIS), Lionsgate (LGF.A, LGF.B), Sony (SNE), and Viacom (VIA, VIAB).

14:26 EDT Axar Capital reports 11.8% passive stake in StoneMor Partners

14:07 EDT DryShips jumps after George Economou raises stake - Earlier today, DryShips holder George Economou reported that his stake in the company was 69.5%. In a prior 13D filing from September George Economou reported a 53.5% stake. Shares of DryShips are up 11.4% to $3.40 per share in afternoon trading.

13:39 EDT Secretary of Commerce announces anti-dumping duty on Bombardier - Today, U.S. Secretary of Commerce Wilbur Ross announced the affirmative preliminary determination in the antidumping duty investigation of 100- to 150-seat large civil aircraft from Canada, like Bombardier (BDRBF) CSeries jets. As AFA, Commerce applied the sole dumping margin calculated in the petition for Canadian exports of aircraft, which is 79.82%. This rate will apply to all other producers/exporters as well. The Commerce Department will instruct U.S. Customs and Border Protection to collect cash deposits from importers of 100- to 150-seat large civil aircraft based on this preliminary rate. "The United States is committed to free, fair and reciprocal trade with Canada, but this is not our idea of a properly functioning trading relationship," said Secretary Ross. "We will continue to verify the accuracy of this decision, while do everything in our power to stand up for American companies and their workers." Although Canadian civil aircraft subject to this investigation have not yet been imported, an April 2016 press release announcing the sale of Canadian civil aircraft to a U.S. airline valued the order to be in excess of $5B. The petitioner is The Boeing Company (BA).

13:17 EDT Delta says no flight cancellations planned as result of Tropical Storm Nate - Delta stated: "Teams at the airline's Operations and Customer Center as well as at airports along the Gulf Coast are keeping an eye on Tropical Storm Nate, a relatively fast-moving storm which may grow to Category 1 hurricane strength prior to making landfall Saturday. No flight cancellations are planned as a result of this storm, though Delta has issued a travel waiver for eight destinations from Louisiana to the western Florida panhandle to allow customers to make one-time changes to their itinerary without incurring a fee."

13:07 EDT Rivulet Capital reports 5.3% passive stake in EVERTEC

12:56 EDT F&I Management Group reports 9.36% passive stake in Global Self Storage

12:31 EDT Kellogg to acquire protein bar brand RXBAR for $600M - Kellogg (K) shares are in focus after the food maker announced it would acquire protein bar brand RXBAR for $600M. WHAT'S NEW: Kellogg said in a statement this morning that it has agreed to acquire Chicago Bar Company, maker of RXBAR, a line of clean-label protein bars made with a base of egg whites, fruit and nuts. The company also recently launched RXBAR Kids, which contain the same core ingredients as RXBARs, but in kid-friendly flavors and portions. Kellogg said RXBAR will continue to operate independently as a standalone business, and will be able to leverage Kellogg's scale and resources to continue driving its growth. FINANCIAL TERMS: The purchase price of the acquisition, which is expected to close by year-end, is $600M, or approximately $400M net of tax benefits. RXBAR's net sales are expected to be approximately $120M in 2017 and Kellogg expects the multiple on projected 2018 EBITDA to be in the range of 12-14x, inclusive of the tax benefits to the purchase price. Excluding one-time costs, the acquisition is expected to be immaterial to EPS in 2017 and 2018. "EXCELLENT STRATEGIC FIT": Kellogg CEO Steve Cahillane commented that "RXBAR is a unique and innovative company. Its values, people and cutting-edge approach represent an exciting opportunity for our business. Adding a pioneer in clean-label, high-protein snacking to our portfolio bolsters our already strong wholesome snacks offering. RXBAR is an excellent strategic fit for Kellogg as we pivot to growth.With its strong millennial consumption and diversified channel presence including e-commerce, RXBAR is perfectly positioned to perform well against future food trends. Kellogg and other processed food makers have been dealing with weak sales amid a growing preference by consumers for healthier foods, and has been making changes to its offerings by removing artificial ingredients and introducing healthier foods. Several of Kellogg's peers have also been buying healthier brands, including Conagra (CAG), which recently acquired Angie's Artisan Treats, and Campbell Soup (CPB), which previously said it would buy organic soup maker Pacific Foods. PRICE ACTION: PRICE ACTION: Kellogg is up fractionally to $62.81 in early afternoon trading.

11:49 EDT Airbus: Overall net orders for first nine months of 2017 totaled 271 jetliners

11:43 EDT Airbus says A330-800 production 'well underway' - As Airbus prepares for the first flight of the A330-900, production of the second member of the A330neo Family, the A330-800, is well underway with the first parts advancing at Airbus sites throughout Europe. These parts include the new increased-span wing now being equipped in Bremen, German, and its new composite Sharklets from KAL-ASD, the fuselage sections in Hamburg, the new titanium pylons in Toulouse, France, and the center wing box in Nantes, France. Production of A330-800 will continue towards start of final assembly by the end of 2017 gearing up to first flight in 2018. With close to 1,700 orders, the A330 has flown nearly 1,000,000 annual flights. Over 1,300 aircraft have been delivered to 117 customers worldwide on wide range of routes, from domestic and regional flights to long range intercontinental services.

11:27 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly: 1. GOLDMAN EXPLORES BITCOIN: Goldman Sachs (GS) is in the early stages of a potential new trading operation dedicated to bitcoin and other cryptocurrencies, The Wall Street Journal reported on Monday, saying Goldman still may not proceed with the effort. "In response to client interest in digital currencies we are exploring how best to serve them in this space," a spokeswoman said. On Tuesday, Goldman CEO Lloyd Blankfein tweeted: "Still thinking about #Bitcoin. No conclusion - not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold." 2. BLACKROCK CEO SKEPTICAL: In an interview with Bloomberg News on Tuesday, BlackRock (BLK) CEO Larry Fink said, "Related to cryptocurrencies, I'm a big believer in the potential of what a cryptocurrency can do. You see huge opportunities, but what we're talking about today, it's much more of a speculative platform, people are speculating on it," he said. However, Fink added that bitcoin's growth "just identifies how much money laundering there is being done in the world. How much people are trying to move currencies from one place to another." 3. ECB DISCUSSES DIGITAL: The European Central Bank has begun to seriously discuss putting "concrete legal restrictions in place" for digital currencies and is mulling regulation around initial coin offerings, Bloomberg reported on Thursday, citing comments made by council member Ewald Nowotny. He added the "hype" around cryptocurrency is "dangerous and deeply dubious." The move comes after ECB president Mario Draghi previously said that "it would actually not be in our powers to prohibit and regulate" cryptocurrency. 4. COINBASE CRASH: The Commodity Futures Trading Commission has requested information from digital-coin exchange Coinbase over a June flash crash that saw the ether digital token drop to 10c from $317.81 before recovering, Bloomberg reported on Monday. The watchdog is looking into what role leverage played in the drop on Coinbase's GDAX platform as the exchange enabled traders to use borrowed money to make larger wagers. The plunge was caused by a single $12.5M trade resulting in selling which triggered automatic sell orders. Algorithms then began issuing buy orders that brought prices back up to $300 within 10 seconds. Coinbase, which is not registered with the CFTC, said "it fully cooperates with regulators." 5. BIOPTIX BECOMES RIOT: On Wednesday, Bioptix (BIOP) announced it was changing its name to Riot Blockchain (RIOT) in line with a shift in direction to become a strategic investor and operator in the blockchain ecosystem with a focus on Bitcoin and Ethereum. As part of this focus, the company announced it made a strategic investment in Canadian exchange Coinsquare. Riot is investing a few millions dollars for about a 12% stake and has warrants to increase its holding to 20%, Bloomberg reported. The company is also looking to acquire businesses focused on bitcoin mining, blockchain and security software. 6. NVIDIA'S LEAD SEEN WIDENING: On Wednesday, Barclays analyst Blayne Curtis raised his price target for Nvidia (NVDA) shares to $200 from $140 while keeping an Equal Weight rating on the name. The launch of Volta based client graphic processing units in early 2018 should widen the company's lead, Curtis said in a U.S. Semiconductors research note titled "Crypto Tailwind Likely Extends into Next Year." The GPU market is still in shortage but should start to recover into the end of the year, the analyst writes. He sees this as positive for both Nvidia and AMD (AMD). The analyst raised his price target for AMD shares to $10 from $9 but keeps an Underweight rating on the name. In prior research, Jefferies' analyst Mark Lipacis told investors that he estimates cryptocurrency revenues accounted for about 3% of quarterly sales for Advanced Micro Devices and about 10% for Nvidia in the second quarter. PRICE ACTION: As of time of writing, Bitcoin rose about 4.2% this week, or $178, to $4,389 in U.S. dollars. Meanwhile, AMD shares were up about 4% to $13.26 this week and Nvidia rose 1.3% on a weekly basis to $189.96. Bitcoin Investment Trust (GBTC) dropped 2.6% this week to $700.99. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

11:10 EDT Honeywell says Anne Madden to succeed Kate Adams as general counsel - Honeywell (HON) announced that it has named Anne T. Madden as SVP and General Counsel, reporting to President and CEO Darius Adamczyk and serving as a company officer. Madden has served as VP of Corporate Development and Global Head of M&A since 2002. During her tenure, Honeywell has executed about 100 acquisitions representing $15B in sales along with about 70 divestitures representing $8.5B in sales. Madden succeeds Kate Adams, who served in the role since 2009 and has decided to leave Honeywell to become Apple's (AAPL) General Counsel.

11:01 EDT Apple says Katherine Adams to succeed Bruce Sewell as general counsel - Apple (AAPL) announced that Katherine Adams, formerly SVP and general counsel of Honeywell (HON), will join Apple as general counsel and SVP of Legal and Global Security, reporting to CEO Tim Cook and serving on Apple's executive team. The company also announced Bruce Sewell, who has served as Apple's general counsel since 2009, will be retiring at the end of the year.

10:51 EDT Walgreens drops as analysts highlight guidance concerns, Amazon risk - Shares of Walgreens Boots Alliance (WBA) dropped in morning trading after an analyst downgraded the stock, saying he believes the company's guidance will fall short of consensus estimates. Separately, another analyst noted a threat to retail players like Walgreens from Amazon's (AMZN) potential entry into the drug distribution value chain. DOWNGRADE TO EQUAL WEIGHT: Ricky Goldwasser, an analyst at Morgan Stanley, cut his rating on Walgreens Boots Alliance to Equal Weight from Overweight, saying he believes the company's guidance will be below analysts' consensus estimates when it reports earnings on October 25 as its growth slows. Goldwasser, who also reduced his price target on shares to $85 from $95, told clients that the key driver of his lower estimates are the recent Medicare Part D preferred network exclusions, but also cited reimbursement cuts in the U.K. as well as reimbursement pressure in the U.S. He believes Walgreens will face a headwind to earnings per share of 11c-14c after being excluded from CVS Health's (CVS) Silverscript, Envision (EVHC), and Aetna's (AET) Medicare preferred networks, which could shift 4 million to 5 million scripts out of Walgreens' stores. In June, Walgreens reported quarterly earnings that beat analysts' estimates and raised the lower end of its fiscal 2017 EPS guidance to $4.98-$5.08, in line with analysts' estimates at the time of $5.00. CVS A BENEFICIARY: Separately, Goldwasser said CVS is viewed as beneficiary of preferred network dynamics next year, but he maintained his Equal Weight rating on the stock as he is below consensus for 2018 "as we see pricing dynamics offsetting some of the volume benefits." AMAZON THREAT: Amazon is said to be looking at entering the retail pharmacy industry, which may impact Pharmacy Benefit Managers, or PBMs. In a note to clients this morning, Leerink analyst Ana Gupte said she believes that Amazon "will almost certainly" enter the drug distribution value chain within two years, evolving into a more "disruptive" offering over time. She said Amazon's potential move is most threatening for retail players like Walgreens, as well as CVS and Wal-Mart (WMT), and provides both an opportunity and a threat for Express Scripts (ESRX). Gupte noted OptumRx (UNH) and Humana (HUM) would be "largely buffered" from the move. According to her conversations with specialists, Amazon is hiring relevant talent and is in active discussions with mid-market pharmacy benefit managers and possibly even with large players such as Prime Therapeutics. Additionally, she said she expects Aetna, Anthem (ANTM) and Cigna (CI) will likely contemplate Amazon's entry in their upcoming PBM contract decisions. PRICE ACTION: In morning trading, Walgreens Boots Alliance dropped 2% to $75.44. Shares are down over 8% year-to-date. OTHERS TO WATCH: Other retail pharmacies trading lower this morning include CVS Health and Rite Aid (RAD).

10:47 EDT Bass says 'shouldn't have dismissed' bitcoin - Kyle Bass says he now believes the class of digital cryptocurrencies is a "real asset class" and he was wrong to have "dismissed" bitcoin the way he did when he first thought about it. Bass said he does not own bitcoin, but "wishes" he did. However, a "bunch" of new ICOs are "frauds." Hayman Capital's Bass is being interviewed on Bloomberg TV.

10:21 EDT SV Life Sciences discloses activist stake in Deciphera - SV Life Sciences Fund, or SVLSF VI, LLC, disclosed a 5.4% stake in Deciphera Pharmaceuticals, which represents over 1.71M shares. The filing, which allows for activism, notes the fund may engage in discussions with third parties about the company and may make proposals to the company concerning changes to the capitalization, ownership structure, board structure, including seeking board representation, or operations.

09:43 EDT DBV continues rally after Deutsche boosts price target to $56 - Shares of DBV Technologies (DBVT) are continuing their recent rally after Deutsche Bank this morning upped its price target on the shares to $56 from $46. The clinical-stage biopharmaceutical company focused on food allergy treatments is trading up 57c to $46.71 in early trading. Aimmune Therapeutics (AIMT), another company focused on severe food allergies, is down 8c to $26.12. Deutshe Bank analyst Andrew Peters continues to see a "favorable risk skew" ahead of DBV's pivotal Phase 3 readout expected later this month. The company's Pepites study is a Phase 3 clinical trial designed to evaluate the safety and efficacy of Viaskin Peanut 250 in 356 children with ages four to 11 years, Peters told investors earlier in a research note. At current share levels, DBV's value suggests less than 50% probability of success for the late-stage study, Peters contends. He continues to see a "strong rationale" for why the study should be successful.

09:27 EDT Griffin agrees to purchase undeveloped land in North Carolina for $2.6M in cash - Griffin Industrial Realty announced that it has entered into an agreement for the purchase of an approximately 22 acre parcel of undeveloped land in Concord, North Carolina for $2.6M in cash, before closing costs. If the transaction closes, Griffin plans to construct an industrial/warehouse development on the Land, which is located near Griffin's recently acquired approximately 277,000 square foot industrial/warehouse building in the greater Charlotte area. The amount of industrial/warehouse space to be developed on the Land will be based upon findings during due diligence. Closing on the purchase of the Land is subject to several conditions, including the satisfactory outcome of due diligence and obtaining all governmental approvals for Griffin's development plans for the Land. The closing is anticipated to take place in fiscal 2018.

09:12 EDT Herbalife announces preliminary results of 'modified Dutch auction' tender - Herbalife announced the preliminary results of its "modified Dutch auction" tender offer, which expired at 5:00 P.M., New York City time, on Thursday, October 5, 2017, to purchase for cash up to an aggregate of $600 million of the company's common shares at a per share price not less than $60.00 nor greater than $68.00, plus a non-transferable contractual contingent value right for each share tendered, allowing participants in the tender offer to receive a contingent cash payment should Herbalife be acquired in a going-private transaction within two years of the commencement of the tender offer. Based on the preliminary count by Computershare Trust Company, N.A., the Depositary for the tender offer, a total of approximately 6.7 million common shares of the Company were properly tendered and not properly withdrawn at or below the price of $68.00 per share, the maximum cash purchase price in the price range specified in the tender offer. The company expects to fund the share purchases in the tender offer from the proceeds from the $1,300.0 million term loan under its $1,450.0 million senior secured credit facility entered into on February 15, 2017.

09:01 EDT Amazon's Audible Studios reports release of The X-Files: Stolen Lives - Audible Studios, a production arm of Audible.com, announced the release of an exclusive original audio production, The X-Files: Stolen Lives, starring Golden Globe Award-winner David Duchovny as Fox Mulder and Golden Globe and Emmy Award-winner Gillian Anderson as Dana Scully.

08:48 EDT Ensco completes acquisition of Atwood Oceanics - Ensco plc (ESV) announced the completion of its acquisition of Atwood Oceanics (ATW). Under the terms of the merger agreement, Atwood shareholders are entitled to receive 1.60 Ensco Class A ordinary shares for each share of Atwood common stock they own. Ensco and Atwood shareholders will own approximately 69% and 31%, respectively, of the outstanding shares of the combined company. In connection with the completion of the transaction, Atwood common stock has ceased trading on the New York Stock Exchange.

08:45 EDT Caesars announces CEOC's emergence from bankruptcy - Caesars Entertainment Corporation announced the completion of its previously announced merger with Caesars Acquisition Company and the conclusion of the restructuring of Caesars Entertainment Operating Company and its debtor subsidiaries. As a result of these transactions, the newly restructured Caesars Entertainment is positioned to further invest in its growth strategy and realize the benefits of a simpler and less leveraged capital structure. Conclusion of CEOC's bankruptcy requires completion of a number of procedural steps which will occur during the course of the day.

08:44 EDT European Commission clears acquisition of PharMerica by Walgreens, KKR - The European Commission announced it has approved, under the EU Merger Regulation, the acquisition of PharMerica (PMC) by KKR & Co. (KKR) and Walgreens Boots Alliance (WBA). The Commission concluded that the proposed acquisition would raise no competition concerns, because PharMerica has no actual or planned activities in the European Economic Area.

08:36 EDT Luminant to retire Monticello power plant - Luminant, a subsidiary of Vistra Energy, announced plans to retire its Monticello Power Plant in Titus County, Texas. In total, approximately 1,800 MW of power will be taken offline in January of 2018. Luminant estimates that approximately 200 employees will be impacted by Monticello's retirement. Eligible and affected employees will be offered severance benefits and outplacement assistance. The company will also assist employees who are interested in pursuing open positions within our fleet. As part of the retirement process, today Luminant filed a notice with the Electric Reliability Council of Texas, which will trigger a reliability review. If ERCOT determines the units are not needed for reliability following this 60-day review, Luminant expects to stop plant operations on Jan. 4, 2018. Luminant will take the necessary steps to responsibly decommission the facility in accordance with all federal and state regulations. In addition, we will continue the ongoing reclamation work at the plant's mines, which ceased active operations in the spring of 2016. Vistra estimates it will record one-time charges of approximately $20M-25M in the third quarter related to the retirement, including employee-related severance costs and non-cash charges for materials inventory and the acceleration of Luminant's mining reclamation obligations.

08:32 EDT Park City Capital announces proxy contest at Resonant to maximize investor value - Park City Capital, LLC, the beneficial owner with its affiliates of approximately 6.5% of the shares of Resonant (RESN), announced that it will initiate a proxy contest to elect a new board of directors at Resonant's next annual meeting of shareholders expected to be held in early June 2018. Resonant's full board of directors is elected annually. Park City believes that Resonant is in critical need of new leadership at the board level to take the company in a new direction. Park City is concerned that the Resonant board includes two company executives and a company service provider and overall lacks representation by shareholders with meaningful ownership in the company. Park City believes that a board with true "skin in the game" will better advance shareholder interests. Park City is concerned that the current Resonant board -- with a lack of meaningful ownership in the company -- has been all too eager to continually return to the capital markets to effectuate dilutive financings and to implement excessive equity programs for executives. Park City is even more concerned that the Resonant board has carried out its dilutive financing strategy while deliberately excluding Park City's current board representative from the board's review process. Park City has attempted to work constructively with the board, but has repeatedly been rebuffed and excluded simply for raising valid board matters for consideration. Park City believes that Resonant's stock price does not reflect the true value of the company based on the potential for the company's technology. Park City believes that Resonant may be able to achieve a better outcome for shareholders by pursuing a sale of the company, which Park City believes is likely to attract a buyer willing to value the company more favorably than the current market for Resonant stock. Park City intends to nominate a full slate of highly qualified and independent director candidates to replace Resonant's current board. Over the next several months, Park City will complete its review and selection of a full slate of highly capable director candidates. Park City encourages shareholders to contact Park City to propose potential board candidates for inclusion in the slate. Resonant and ARI (ARIS) are in different industries and at different stages of development, and Park City believes that Resonant could attract a much higher premium to its stock price in a sale transaction. However, although Park City's efforts at ARI were highly successful, it cannot guarantee the same or better results at Resonant. Park City can promise, however, that it will make every effort to maximize value for shareholders.

08:23 EDT Kitov Pharmaceuticals acquires additional 27% stake in TyrNovo - Kitov Pharmaceuticals announced the acquisition of an additional 27% stake in TyrNovo, a privately- held developer of novel small molecules in the oncology therapeutic field, from unaffiliated minority shareholders. As announced on January 13, Kitov had acquired a controlling interest, which is now approximately 65% of TyrNovo. After the closing of this transaction, Kitov will hold approximately 92% of TyrNovo's issued and outstanding ordinary shares. Following negotiations with a group of unaffiliated minority shareholders who collectively hold approximately 27%, of TyrNovo, the company has entered into an agreement to acquire their shares based on an agreed upon TyrNovo valuation of $7M. In exchange for these TyrNovo shares, Kitov will issue 13,169,689 new shares, equivalent to 658,484 American Depositary Shares or ADSs of Kitov, at an agreed upon price, in excess of prevailing market prices, of $2.50 per ADS.

08:07 EDT Origin Agritech CFO Shashank Aurora resigns, ZHOU Xin to succeed - Origin Agritech (SEED) announced that ZHOU Xin has been promoted and named Origin's CFO on October 2. ZHOU has most recently spent seven years with Monsanto China (MON) and will be based in Beijing. ZHOU will work closely with the management team and board of directors to realize the growth initiatives established for the company. Shashank Aurora who served the company as CFO since May of 2016, has resigned to pursue new opportunities. Aurora is expected to remain with Origin as a financial and strategic consultant during a transition period.

08:03 EDT Wendy's announces planned succession for Chief People Officer role - Wendy's announced that Chief People Officer Scott Weisberg intends to leave the company once he completes an effective transition process over the next several months. After a successful tenure with Wendy's that started in 2012, Weisberg is expected to transition his responsibilities in the first quarter of 2018 to Coley O'Brien, currently Vice President of Human Resources. Subject to final Board approval, O'Brien is expected to succeed Weisberg in the Chief People Officer role and join the senior leadership team reporting to President and CEO Todd Penegor. O'Brien joined the company in 2007 as National Director of Operations Training, and has been successively promoted through Operations and Human Resources leadership roles over the past 10 years.

08:02 EDT PriceSmart reports September sales up 3.8% to $237.2M - PriceSmart announced that for the month of September net sales increased 3.8% to $237.2M, from $228.4M in September a year earlier. There were 39 warehouse clubs in operation at the end of September 2017 and 39 warehouse clubs in operation at the end of September 2016. For the four weeks ended October 1, comparable warehouse sales for the 38 warehouse clubs open at least 13 1/2 full months increased 2.8%, compared to the same four-week period last year. "In the month of September, hurricanes Irma and Maria both hit St. Thomas, U.S.V.I. While our warehouse club did not sustain substantial damage, the devastating impact on the island resulted in 9 days of closure and an additional 16 days of reduced hours for our warehouse club during the month." The company also announced that on October 5, the company successfully opened its new warehouse club in Santa Ana, Costa Rica, bringing to 40 the total number of warehouse clubs in operation by the company. This warehouse club is the company's seventh warehouse club in Costa Rica.

08:01 EDT Endologix receives IDE approval for EVAS2 study to evaluate Nellix system - Endologix announced that it has received Investigational Device Exemption approval from the FDA to commence a confirmatory clinical study to evaluate the safety and effectiveness of the Nellix EndoVascular Aneurysm Sealing System, or EVAS, for the endovascular treatment of infrarenal abdominal aortic aneurysms. The EVAS2 IDE Multicenter Safety and Effectiveness Confirmatory Study will prospectively evaluate the refined Indications for Use and the Nellix Gen2 EVAS System. The study is approved to enroll up to 90 primary patients, with one-year follow-up data required for the Pre-market Approval Application. The Nellix EVAS system is an endovascular abdominal aortic aneurysm therapy designed to seal the entire aneurysm. Nellix is the first and only EVAS product developed as an alternative treatment approach to traditional EVAR devices. John McDermott, CEO for Endologix, said, "We are pleased to receive IDE approval from the FDA to begin this confirmatory study and look forward to collaborating with the investigators to achieve the goal of commencing enrollment by the end of this year. Based on the anticipated enrollment timeline, one-year follow up period, and regulatory review process, we continue to estimate PMA approval in 2020."

07:50 EDT Trian's Peltz: 'I believe P&G has lost its soul' - Says P&G will change faster "if I get on the board" and that the proxy fight "is stupid." Says believes in board refreshment. Trian's Nelson Peltz is speaking on CNBC.

07:39 EDT Trian's Peltz says P&G moats have disappeared - Trian's Nelson Peltz is speaking on CNBC.

07:35 EDT Peltz tells CNBC: 'We've gotten results even if proxy fights are lost' - Trian's Nelson Peltz tells CNBC that he may not sell P&G stock if vote does not go his way. Peltz commented, "I feel I can still work with P&G CEO David Taylor," says people do mend fences after proxy battles.

07:31 EDT New Gold announces first gold pour at Rainy River mine - New Gold is pleased to report that it has completed its first gold pour at the Rainy River mine, and the company's commissioning plans remain on schedule. The first pour yielded approximately 500 ounces of gold and 600 ounces of silver. The Rainy River mine began processing ore on schedule on September 14. Since that date, the company has successfully processed approximately 290,000 tonnes of ore. Inclusive of four days of intentional downtime as part of the commissioning plan, this translates to an average processing rate of almost 14,000 tonnes per day, or 67% of the 21,000 tonne per day nameplate capacity. At the same time, the mining rate through September has continued to track on plan which has enabled the mine to deliver the scheduled quantities of ore to the mill.

07:03 EDT First Data appoints former UK PM David Cameron to International Advisory Board - First Data Corporation announced the appointment of former Prime Minister of the United Kingdom, David Cameron, as the newest member of the company's International Advisory Board. In this role, he will work on strengthening First Data's presence in key regions around the world and expanding the company's footprint in new and existing markets. First Data's International Advisory Board was formed in 2015 and is comprised of leaders of the global business community dedicated to expanding First Data's growth in new and existing markets and advising company management on issues related to products, services and programs designed to help First Data clients grow their business.

07:00 EDT Teekay Offshore Partners: Randgrid FSO begins charter contract with Statoil - Teekay Offshore Partners (TOO) announced the Randgrid FSO, which was converted from one of the Partnership's shuttle tankers at Sembcorp's Sembawang shipyard in Singapore, has commenced its charter contract with Statoil ASA (STO) on the Gina Krog oil and gas field in the Norwegian sector of the North Sea.

06:58 EDT Kadmon treatment of graft versus host disease granted orphan status - Kadmon's treatment of graft versus host disease was granted FDA orphan status, according to a post to the agency's website. Reference Link

06:56 EDT Ovid Therapeutics treatment of Fragile X syndrome granted orphan status - Ovid Therapeutics' treatment of Fragile X syndrome was granted FDA orphan status, according to a post to the agency's website. Reference Link

06:37 EDT 22nd Century reports results of Phase 3 study using SPECTRUM research cigarettes - 22nd Century announced that Dr. Dorothy Hatsukami, at the Vermont Center on Behavior and Health's 5th Annual Conference on Tobacco Regulatory Science, revealed the fundamental findings of a highly anticipated 1,250-patient, 20-week study that compared smokers who were assigned to: i) an immediate reduction to Very Low Nicotine cigarettes; ii) gradual reduction in reduced nicotine content cigarettes; or iii) normal nicotine content cigarettes. Designed to determine which approach produces the most optimal outcomes for smokers, the announcement of the results of the seminal phase III study comes only weeks after the United States FDA announced that the Agency is exercising its authority under the Family Smoking Prevention and Tobacco Control Act to mandate lower nicotine - at non-addictive levels - in all combustible cigarettes sold in the United States. Though the details of Dr. Hatsukami's phase III study are still under peer review, Dr. Hatsukami divulged the answer to the study's core question of whether an immediate or a gradual reduction in nicotine is the best approach. Dr. Hatsukami clearly and confidently declared in her panel presentation at the Vermont Conference that "an immediate approach [to nicotine reduction] is most likely to lead to less harm." Further, Dr. Hatsukami pointed out that the study data indicates compensatory smoking is less likely to occur with an immediate reduction in nicotine, and that the there was a "greater likelihood of more rapid smoking cessation" with the immediate approach to nicotine reduction.

06:33 EDT Omega Protein to be acquired by Cookie Inc. for $22 per share

06:32 EDT Carrizo Oil & Gas sells Marcellus Shale assets for $84M in cash - Carrizo Oil & Gas announced that on October 5, the company entered into an agreement to sell its assets in the Marcellus Shale to a subsidiary of Kalnin Ventures for $84M in cash, subject to customary closing terms and conditions. Additionally, Carrizo could receive contingent payments of up to $7.5M in aggregate based on natural gas prices exceeding certain thresholds over the next three years. Net production from the assets averaged more than 40 MMcf/d of natural gas over the first nine months of 2017. The effective date of the transaction is April 1, and the transaction is currently expected to close by the end of November.

06:28 EDT Haverty Furniture CEO: Q3 'one of our more challenging periods in recent years' - Clarence Smith, chairman, president and CEO, said, "The third quarter was one of our more challenging periods in recent years. Our sales results for the quarter as we entered September were slightly positive with written business running somewhat negative. Our markets were not directly impacted by Hurricane Harvey, but its devastation heightened the concern for the larger and more powerful Hurricane Irma. In advance of Irma's approach, we closed stores and readied them for possible severe weather and halted home deliveries. Given the anticipated path of the storm, 55 of our stores were closed for at least one day, including stores in metro Atlanta. We were fortunate to have only minor property damage to a few locations but 14 stores remained closed for three or more days due to power outages. We are working with our insurance provider on recovery claims. Hurricane Irma disrupted not only our retail operations but caused us to close our Florida and Eastern distribution centers and corporate offices. I was pleased by the excellent collaboration and communication to protect Havertys property and reschedule over 3,900 home deliveries; and very proud of the concern and assistance our team members demonstrated to those directly impacted by the storm."

06:16 EDT Glencore offers to buy Chevron South Africa stake, Chevron Botswana for $973M - Glencore (GLNCY) has entered into an agreement with Off The Shelf Investments Fifty Six Proprietary Limited to acquire from OTS (i) a 75% stake in Chevron South Africa Proprietary Limited (CVX) and certain related interests and (ii) the entire issued share capital of Chevron Botswana Proprietary Limited following closing of OTS's exercise of its pre-emptive right to acquire the Assets from the Chevron group. During its acquisition process Glencore will be supporting OTS as their technical and financial partner. The aggregate consideration is $973M. The Assets comprise the interests of the Chevron group in its manufacturing, retail and industrial supply business in South Africa and Botswana. Glencore believes that the Assets provide an attractive downstream opportunity for its oil business. The acquisition will include undertakings as to retention of the local management team and workforce.The consideration will be payable in cash on closing and will be funded from Glencore's own cash resources. Glencore intends to manage its overall oil asset portfolio to ensure that, including this transaction, net additional capital investment is limited to less than $500M over the next 12 months, consistent with Glencore's conservative financial framework targets. The transaction is conditional on the receipt of all necessary regulatory approvals by OTS and Glencore and is expected to close in mid-2018. A further announcement will be made in due course.

06:01 EDT CakSTRS says intends to support nomination of Nelson Peltz to P&G board - CalSTRS Director of Corporate Governance Anne Sheehan made the following statement regarding the organization's intent to support the nomination of Nelson Peltz to the board of directors at Proctor & Gamble: "CalSTRS has expressed its intention to support Nelson Peltz, CEO and Founding Partner of Trian Fund Management, in his nomination to the Procter & Gamble board. CalSTRS holds close to 5.6 million shares of P&G stock valued at approximately $508M and has been an investor with Trian since April 2011. Mr. Peltz's experience in the consumer product space will add value to Proctor & Gamble's board and his significant stake in the company will bring an owner's perspective inside the boardroom. CalSTRS believes the addition of Mr. Peltz to the board is best for P&G, the CalSTRS fund and ultimately, the teachers of California."

05:56 EDT TSMC reports September revenue down 1.3% from prior year - TSMC announced its net revenues for September 2017: On a consolidated basis, revenues for September 2017 were approximately NT$88.58B, a decrease of 3.6% from August 2017 and a decrease of 1.3% from September 2016. Revenues for January through September 2017 totaled NT$699.88B, an increase of 2.1% compared to the same period in 2016.

05:19 EDT Chubb enters partnership with StarHub - Chubb announced its partnership with StarHub, an integrated info-communications company in Singapore, to launch a new product -- HomeInsured. The latter is a complimentary 12-month insurance plan which provides coverage for renovations, fixtures, fittings and home contents for StarHub customers.