Stockwinners Market Radar for October 27, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:42 EDT ISS recommends EQT Corporation holders vote 'FOR' transaction with Rice Energy - EQT Corporation (EQT) announced that the nation's leading independent proxy advisor firm, Institutional Shareholder Services, has recommended that EQT shareholders vote "FOR" the pending transaction with Rice Energy (RICE). EQT's Board of Directors also reiterates its unanimous recommendation for the transaction and advises EQT shareholders to follow instructions on the WHITE proxy card and vote "FOR" all agenda items.

17:33 EDT Raytheon awarded $1.5B government contract - Raytheon Integrated Defense Systems, Woburn, Massachusetts, is being awarded an indefinite-delivery/indefinite-quantity contract with cost-plus-fixed-fee and cost-plus-incentive-fee line items with a stated maximum value of $1.5B. Under this follow-on contract, the contractor will provide operations and sustainment support for the Army Navy Transportable Radar Surveillance Model 2; and Sea-Based X-Band radar. This O&S support includes AN/TPY-2 radar logistics support, AN/TPY-2 sustaining engineering, AN/TPY-2 transition and transfer, AN/TPY-2 depot transition, SBX logistics support, and SBX sustaining engineering. This award is the result of a sole-source acquisition. Fiscal 2017 research, development, test and evaluation funds in the amount of $1,252,264 are being obligated at time of award. The work will be performed in Woburn, Massachusetts, and several stateside and overseas locations. The ordering period is from Nov. 1, 2017, through Oct. 31, 2020, with four successive one year option periods provided in the contract. The Missile Defense Agency, Huntsville, Alabama is the contracting activity.

17:08 EDT ACT Capital reports 5.5% passive stake in Ampio

17:05 EDT Dominion Diamond announces receipt of Investment Canada Act approval - Dominion Diamond announced that The Washington Companies has received Investment Canada Act approval in connection with the previously-announced plan of arrangement, pursuant to which Northwest Acquisitions ULC, an entity affiliated with The Washington Companies, has agreed to acquire all of the issued and outstanding common shares of the company for $14.25 per share in cash. The Arrangement has previously received shareholder approval, court approval, and clearance under the Competition Act. No further regulatory or shareholder approvals are required in connection with the Arrangement. The arrangement is expected to be completed on or about November 1, 2017, subject to the satisfaction or waiver of the remaining conditions of closing.

16:57 EDT Whole Foods Market to hire 6,000 team members at national hiring day event - Whole Foods Market said it is "searching for passionate, food-focused candidates to join its team. On November 2, the grocer is hosting a National Hiring Day at all of its U.S. stores with a goal of hiring 6,000 new Team Members. The event includes full-time and part-time opportunities for both seasonal and permanent positions, including cashiers, culinary experts and prepared foods specialists. Candidates can visit any Whole Foods Market store on November 2 and receive an interview, with opportunities for on-the-spot job offers. Whole Foods Market offers competitive pay and benefits for both full-time and part-time Team Members, including a 20 percent in-store discount. With flexible schedules and an empowered environment, these positions provide the opportunity to grow in a company that is focused on providing customers with the best possible in-store experience and service."

16:40 EDT Concurrent files preliminary proxy statement for sale of content delivery unit - Concurrent reported that it has filed with the U.S. SEC a preliminary proxy statement in connection with the Asset Purchase Agreement executed on October 13, 2017 and announced on October 16, 2017, between Concurrent, as seller, and Vecima Networks, as purchaser. The Asset Purchase Agreement contemplates the sale and transfer of all of Concurrent's assets and certain liabilities related to Concurrent's "content delivery and storage" business to Vecima for a purchase price of $29M. At closing, Concurrent's assets are expected to consist primarily of $67M in working capital and Concurrent's remaining net operating loss carryforwards under federal, state, and foreign tax laws. The Asset Purchase Agreement has been unanimously approved by Concurrent's Board of Directors. As previously reported by Concurrent, the Board of Directors has formed an Investment Committee comprised of directors Wayne Barr, Robert Pons, and Steven Singer to evaluate options to maximize the value of Concurrent's remaining assets, including the proceeds of the proposed Vecima transaction.

16:36 EDT Alliance Holdings increases Q3 distribution 0.7% to 73.5c per share - Alliance Holdings approved an increased cash distribution of 73.5c per unit - an annualized rate of $2.94 per unit -, payable on November 17 to all unitholders of record as of the close of trading on November 9. The distribution represents a 33.6% increase over the cash distribution declared of 55c for the 2016 quarter and a 0.7% increase over the cash distribution declared of 73c for the sequential quarter.

16:32 EDT Fanhua to spin off P&C insurance subsidiaries - Fanhua announced that, as part of its transition towards the fee-based property and casualty insurance platform model, it has entered into a share purchase agreement with Beijing Cheche Technology Co., Ltd., which operates an online auto insurance platform. Under this agreement, Fanhua agrees to sell the equity interests in Fanhua Times Sales & Service Co., Ltd., and its P&C insurance subsidiaries, to Cheche for total consideration of approximately RMB222M, which represents RMB130M above the combined net asset value of the P&C Insurance Division. Fanhua's plan to change its P&C insurance business from a commission spread-based profit model to a fee-based platform model was previously announced on August 22, 2017. Under the new model, Fanhua will give all participants in the P&C industry access to CNpad App, through which both P&C insurance providers and purchasers can transact directly with each other. The spin-off of its P&C Insurance Division marks an important step forward towards Fanhua's transition to the P&C insurance platform model. Starting from October 1, 2017, Fanhua will no longer charge insurance companies commissions and pay commissions to sales agents for the P&C insurance business. Instead, it will charge P&C insurance providers platform management and technology service fees based on the actual amount of premiums transacted over CNpad App. As the result of the transition, Fanhua expects a substantial decline in both of its total revenues and commission costs, while its gross margin is expected to improve significantly. The impact on its operating profit and net profit should be limited. From a long-term perspective, the Company expect this move will help elevate its overall profitability.

16:16 EDT Point72 reports 5.1% passive stake in Adamas Pharmaceuticals

16:07 EDT Man Group reports 5.24% passive stake in JA Solar

15:37 EDT HarborOne Bancorp announces 1.63M share repurchase program - HarborOne Bancorp announced that its Board of Directors has adopted a share repurchase program. Under the share repurchase program, the company may repurchase up to 1,633,115 shares of the company's common stock, or approximately 5% of the company's current issued and outstanding shares.

14:48 EDT Carolina Financial, First South merger receives stockholder, regulatory approval - Carolina Financial (CARO), the parent company of CresCom Bank, and First South Bancorp (FSBK), the parent company of First South Bank, announced that they have received all required regulatory approvals and the approval of each company's stockholders to proceed with the merger of First South with and into Carolina Financial. Pursuant to the terms of the Agreement and Plan of Merger and Reorganization, dated as of June 9, 2017, the initial exchange ratio of 0.5200 was subject to decrease in the event that the average closing price per share of Carolina Financial common stock was greater than $35.14 over a specified period prior to completion of the merger and Carolina Financial common stock outperformed the NASDAQ Bank Index by 15% or more between the signing date and the end of the specified period. Both conditions have been met. Accordingly, each outstanding share of First South common stock will be exchanged for 0.5064 shares of Carolina Financial common stock. The closing of the mergers of Carolina Financial and First South and their subsidiary banks are expected to occur on November 1, 2017. Thereafter, CresCom Bank will operate the former offices of First South under the name "First South Bank" until the data processing system conversion, which is currently expected to occur in March 2018.

14:18 EDT CytRx stockholders approve reverse stock split - CytRx announced the results of the special meeting of stockholders, at which the proposed 1-for-6 reverse stock split resolution was approved.

14:12 EDT Ledyard Financial increases dividend 1c to 17c per share - Ledyard Financial announced a 1c increase to its quarterly dividend. The dividend of 17c is payable December 1 to shareholders of record as of November 10.

13:09 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. 'ENRON IN THE MAKING': Saudi billionaire investor Prince Alwaleed bin Talal, who owns Kingdom Holding, expressed skepticism over bitcoin on Monday and predicted that the cryptocurrency will "implode" in an interview with CNBC. "I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making," he said, referring to the U.S. energy company which filed bankruptcy in 2001 after a widespread accounting fraud. "It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision of, like, the United States Federal Reserve or any other central bank," he said. 2. 'GREAT POTENTIAL': Billionaire investor Peter Thiel said he believes people are "underestimating" bitcoin's potential, but he remains skeptical of most cryptocurrencies, CNBC reported on Thursday. "I'm skeptical of most of them, I do think people are a little bit...underestimating bitcoin especially because...it's like a reserve form of money, it's like gold, and it's just a store of value. You don't need to use it to make payments," Thiel said at the Future Investment Initiative. "If bitcoin ends up being the cyber equivalent of gold it has a great potential left." He added that bitcoin cannot be hacked as it's based on the "security of the math" and said, "Bitcoin is mineable like gold, it's hard to mine, it's actually harder to mine than gold. And so in that sense it's more constrained." 3. PROPRIETARY TRADERS WADE INTO CRYPTO: Proprietary trading firms are beginning to wade into bitcoin, ethereum and other cryptocurrencies as traders looks to capitalize on price swings and shift from low volatility financial markets, the Financial Times reported on Sunday. DRW of Chicago, which has a long-term holding of cryptocurrencies, has led the effort with roughly a dozen of its over 800 employees buying and selling bitcoin at its Cumberland Mining subsidiary. Other firms have followed, including Jump Trading, DV Trading and Hehmeyer Trading + Investments, which has recently advertised a job for a "crypto trade engineer". "It is exploding," Hehmeyer CEO Chris Hehmeyer said. "It's a rapidly growing set of instruments, unlike anything we have ever seen. There are risks but we are cautiously in." 4. INSTITUTIONAL INVESTORS STAY AWAY: Mainstream institutional investors have remained cautious about bitcoin due to regulatory, volatility and liquidity concerns, despite 84 crypto hedge funds launching this year, CNBC reported on Monday. The total number of crypto funds now stands at 110 with roughly $2.2B in assets, according to research firm Autonomous NEXT, but as most funds are relatively small and have limited track records, pension funds, insurance companies and large mutual funds have kept their distance. 5. OTHER BITCOIN PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. PRICE ACTION: As of time of writing, Bitcoin fell about 4.1% this week, or $247, to $5,743 in U.S. dollars according to CoinDesk. Meanwhile, AMD shares were down 16% to $11.59 this week and Nvidia rose 1.2% on a weekly basis to $199.31. Bitcoin Investment Trust (GBTC) slid 1% this week to $686.02. 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.

12:35 EDT Axalta Coating trading resumes

12:33 EDT Axalta Coating jumps after Reuters reports AkzoNobel takeover approach - Axalta Coating shares rose 5% and were halted for volatility after the report.

12:30 EDT Exxon Mobil to acquire interest in Carcara oil field block from Statoil - ExxonMobil (XOM) announced that it has completed an agreement to purchase half of Statoil's (STO) interest in the BM-S-8 block offshore Brazil, which contains part of the pre-salt Carcara oil field. The Carcara field contains an estimated recoverable resource of 2 billion barrels of high-quality oil. The block is located approximately 200 miles offshore Rio de Janeiro. Statoil currently holds a 66% interest in the block, which contains about half the Carcara field. The other part of the field is in the adjacent North Carcara block, where ExxonMobil, Statoil and Petrogal Brasil were high bidders in a bid round held. Statoil will continue to operate the Carcara development and hold 33% interest. Over the last month, through bid rounds and announced farm-in agreements, ExxonMobil has added 14 blocks comprising more than 1.25M net acres offshore Brazil to its portfolio, bringing its total acreage in the country to more than 1.4M net acres. Separately, ExxonMobil recently added highly prospective acreage to the company's portfolio after completing a farm-in agreement with Queiroz Galvao Exploracao e Producao. ExxonMobil will make an upfront cash payment of approximately $800M for the interest in BM-S-8 block, and an additional contingent cash payment for a potential total of approximately $1.3B. The transaction is subject to government approvals and is expected to close in 2018. Following the close of the transaction, partner interests in the BM-S-8 block will be 33% for Statoil, 33% for ExxonMobil, 14% for Petrogal Brasil, a subsidiary of Galp, and 10%each for QGEP and Barra

12:20 EDT United Airlines resumes seasonal service to New Zealand - With United Airlines' seasonal service between San Francisco and Auckland, New Zealand scheduled to resume on Sunday, Oct. 29, United Airlines and Star Alliance partner Air New Zealand have launched a new microsite, available at united.com/airnz, that provides information on both carriers as well as destination inspiration and tips related to travel to New Zealand and the U.S. United will operate its SFO-AKL route six days per week from October 29 through December 17 and then daily through March 22, 2018.

12:18 EDT Cheetah Mobile: Short seller allegations 'unfounded' - Cheetah Mobile responded to the allegations raised in a short seller's report dated October 26, 2017. "Cheetah Mobile believes these allegations are unfounded and contain numerous errors, unsupported speculation, and a general misunderstanding of the industry and the company's business model," the company said. "The company stands by its publicly reported financial results and its public disclosures regarding the company's business. The company has informed its board of directors and its independent auditors of the report, and will conduct a review of the allegations as appropriate."

11:50 EDT Arrow Financial board approves new $5M stock repurchase program - The Board of Directors of Arrow Financial on October 25 approved a new stock repurchase program authorizing the repurchase, at the discretion of senior management, of up to $5M of the company's common stock over the 12-month period starting January 1, 2018, in open market or negotiated transactions. This new repurchase program will replace the existing $5M repurchase program authorized on October 26, 2016, which expires December 31, 2017. Through October 16, 2017, the company had repurchased approximately $2.1M of company common stock under the existing program.

11:33 EDT Box Office Battle: 'Jigsaw' likely to carve out first place weekend - Opening this weekend at 2,941 theaters is Lionsgate's (LGF.A, LGF.B) "Jigsaw," which is a return to "The Saw" franchise after seven years. The horror film is expected to domestically gross in the $18M-$20M range. Another Lionsgate film, comedy "Tyler Perry's Boo 2! A Madea Halloween," is expected to bring in an additional $10M in its second weekend at theaters. Also in its second weekend at theaters is Time Warner's (TWX) Warner Bros. climate disaster film "Geostorm," starring Gerard Butler, which is expected to earn an additional $6M-$7M at 3,246 theaters. Also opening this weekend is Viacom's (VIA, VIAB) Paramount crime comedy"Suburbicon," written and directed by George Clooney and starring Matt Damon, which is expected to gross about $6M. Other publicly traded companies in filmmaking include 21st Century Fox (FOX, FOXA), Comcast (CMCSA, CMCSK), Disney (DIS), and Sony (SNE).

11:16 EDT Chevron says upstream business can sustain itself at current prices - Says upstream business can sustain itself at current prices. Says Australia to deliver earnings and cash flow for "decades."

11:07 EDT Macy's keeps dividend payout of 37.75c per share - The board of directors of Macy's declared a regular quarterly dividend of 37.75cper share on Macy's common stock, payable Jan. 2, to shareholders of record at the close of business on Dec. 15.

10:57 EDT MiMedx accuses Cohodes of posting 'defamatory and false information' - MiMedx announced that the company has become aware that shortseller Marc Cohodes has launched a website "dedicated solely to posting defamatory and false information regarding MiMedx." The company stated: "As part of this launch, Mr. Cohodes has posted a fake email from an anonymous email address identified only as "currentemployee." Mr. Cohodes has timed the posting of this fake email to occur immediately before MiMedx's shareholder call, presumably in an attempt to draw attention away from the very positive results of the last quarter...MiMedx has received a copy of the fraudulent email and shared it with the Board of Directors who conducted an investigation, and confirmed that it is indeed fraudulent. It is clear for numerous reasons that the author of the fraudulent e-mail used by Mr. Cohodes is not, in fact, a current employee. Among other things, the misinformed way that the author describes many of these topics reveals his lack of knowledge of the operations of MiMedx, and confirms he is simply fabricating information or repeating allegations that were previously made by the various anonymous persons issuing negative reports...Additionally, MiMedx has become aware that Mr. Cohodes has been contacting current MiMedx employees, and making false and defamatory statements to them regarding MiMedx, thereby supporting our belief that that he is attempting to manipulate the market to bring down MiMedx's stock price to support his own short position. MiMedx intends to inform the authorities regarding Mr. Cohodes's improper contact with our employees." CEO Parker "Pete" Petit added: "This conduct will be clearly exposed to all regulators, and you should understand the expected results. You know the legal responses that MiMedx will have. MiMedx has the resources, experience and contacts to call this behavior into question in the proper manner."

10:53 EDT Kura Oncology trading halted, volatility trading pause

10:41 EDT Oil States sees Q4 Well Site Services revenue $76M-$80M - Sees Q4 depreciation and amortization expense $26.2M. Sees Q4 net interest expense $1.1M. Sees Q4 corporate costs $12.6M. Sees Q4 consolidated tax rate benefit roughly 28%, resulting in a FY rate of 26%. Sees FY17 capex between $30M-$35M. Oil States sees Q4 Well Site Services revenue $76M-$80M. Sees Q4 Well Site Services EBITDA margin of 9%-11%. Sees Q4 Offshore and Manufactured Product segment revenue $90M-$100M and EBITDA margins are expected to average 15%-16%. Comments taken from Q3 earnings conference call.

10:22 EDT CVS said to bid over $66B to buy Aetna as Amazon threat looms - Shares of Aetna (AET) are in focus in morning trading after CVS Health (CVS) reportedly made a more than $66B offer for the insurer, according to The Wall Street Journal. The report said the two sides have been in discussions about a deal for at least two months. The Aetna/CVS rumors are heating up amid another report that said Amazon (AMZN) has secured licenses in 12 states to become a wholesale prescription drug distributor. CVS/AETNA: CVS Health has offered to buy Aetna for more than $66B, or over $200 per share, The Wall Street Journal reported on Thursday, citing people familiar with the matter. According to the people, the companies' CEOs, CVS Health's Larry Merlo and Aetna's Mark Bertolini, have met "multiple" times over the last six months. CVS was reportedly prompted to make a move on Aetna due to the looming threat that Amazon will enter the pharmacy business, and a person familiar with the matter said CVS felt its move should be "dramatic" after regulators recently rejected peer Walgreens Boots Alliance's (WBA) proposed acquisition of Rite Aid (RAD). According to The New York Times, a combined CVS and Aetna would have annual revenues of about $240B, and could see more leverage in negotiations with drug companies, helping CVS to defend against Amazon. AMAZON THREAT: Amazon has secured wholesale pharmacy licenses in "at least" 12 states, including Nevada, Arizona, North Dakota, Louisiana and New Hampshire, according to a report from the St. Louis Post-Dispatch on Thursday, which cited a review of public records. Amazon has already been making a move into the brick-and-mortar retail sector through its acquisition of Whole Foods in the last few months. Earlier this month, Amazon was said to be looking at entering the retail pharmacy industry, with Leerink analyst Ana Gupte saying at the time that she she believed 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 CVS, Walgreens and Wal-Mart (WMT), and provides both an opportunity and a threat for Express Scripts (ESRX). CVS/AETNA DEAL SEEN AS 'LOGICAL': Jefferies analyst Brian Tanquilut said in a note to clients that a potential deal between CVS and Aetna "should not come as a surprise," as it is a "logical progression of the two companies' relationship." The analyst believes CVS could pay up to $207 per share for Aetna in a stock and cash transaction, but could perhaps pay slightly above that price. Piper Jaffray analyst Sarah James agreed that the valuation and timing make sense for a deal between the companies, and that the WSJ's report of the deal follow Anthem (ANTM), Express Scripts' largest customer, opting to leave the pharmacy benefits manager in 2019 for CVS, whose largest customer is Aetna. JPMorgan analyst Lisa Gill views the potential deal as a strategic positive for CVS, as a scaled integrated health insurer/pharmacy benefits manager model has proven to be a strong competitor, which lowers risk. She does not expect a competing bidder to emerge for Aetna. SOME ANALYSTS CAUTIOUS: Loop Capital analyst Andrew Wolf said a Aetna/CVS deal would not be compelling in the near-term as it would require more debt financing or greater synergies than he assumed to be meaningfully accretive to earnings. Cantor Fitzgerald analyst Steven Halper, who downgraded Aetna to Neutral last night, said it is "impossible" to determine if a deal will occur and at what price, adding that shares are now fairly valued. Cowen analyst Charles Rhyee said a deal makes sense, but is concerned by a potentially high risk/reward. Near-term synergies could occur, he said, but argues that a longer-term vision of coordinated care is many years out. OTHERS TO WATCH: Other retail pharmacies include Walgreens Boots Alliance and Rite Aid. Publicly traded companies in the insurance space include Anthem, Molina Healthcare (MOH), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), UnitedHealth (UNH) and WellCare (WCG). PRICE ACTION: In morning trading, Aetna reversed earlier gains and is now down 2% to $176.60 and CVS is down 4% to $70.37. Meanwhile, Amazon is up over 11% following its earnings report last night.

09:49 EDT AbbVie: Oncology will be 'major growth driver' for next ten years and beyond

09:44 EDT Apple tells CNBC: iPhone X demand 'off the charts'

09:37 EDT AbbVie says non-Humira sales to grow to more than $16B in 2020 - Says non-Humira sales to grow to more than $35B in 2025.

09:32 EDT AbbVie says 'confident' IP will protect Humira until at least 2022 - Says Humira will remain a cash generator for many years to come.

09:28 EDT AbbVie says to on track to exceed revenue of approximately $37B by 2020

09:22 EDT Global Power Equipment announces JV with Bechtel - Global Power Equipment Group announced that its wholly-owned subsidiary, Williams Industrial Services Group, LLC through its subsidiary Williams Plant Services, LLC, has formed a joint venture with Bechtel to establish Richmond County Constructors LLC. RCC will operate as construction subcontractor to Bechtel, who has been selected as the prime construction contractor for the Plant Vogtle Units 3 & 4 nuclear expansion project in Georgia. RCC will provide construction craft labor and supervision for the project. Williams is a 25% member in the joint venture.

09:20 EDT Correction: CIRCOR did not increase its dividend

09:17 EDT Macom announces divestiture of AppliedMicro's Compute business - MACOM Technology Solutions Holding (MTSI) has entered into an agreement to sell the Compute business it acquired in its AppliedMicro acquisition earlier this year to Project Denver Holdings, a new company backed by The Carlyle Group (CG). Under the terms of the sale, MACOM will be issued a minority equity ownership interest in NewCo. Equity for Carlyle's investment came from Carlyle Partners VI, a $13B U.S. buyout fund. The divestment transaction became effective concurrently with the signing of the definitive agreement, with the exception of the transfer of certain assets and entities in jurisdictions outside of the United States, which will be transferred upon receipt of applicable foreign approvals. Evercore acted as exclusive financial advisor and Ropes & Gray served as legal counsel to MACOM. Carlyle was advised by Alston & Bird.

09:13 EDT Duke Realty board adopts proxy access, board diversity policy - Duke Realty announced that its board has amended and restated its bylaws to implement "proxy access" and has adopted a Board Diversity Policy. "Proxy access" allows long-term shareholders to have their own director nominees included in a company's proxy materials. The purpose of the Board Diversity Policy is to advance the company's goal of having a diverse and inclusive Board with directors of different geographical backgrounds as well as of varying race, ethnicity and gender. Proxy access will be first available in connection with the 2018 annual meeting of stockholders. The Board Diversity Policy will be implemented as open positions on the board become available.

09:07 EDT Celgene: Ozanimod demonstrated superiority in reducing MRI brain lesions - Celgene announced detailed results from the phase III SUNBEAM trial evaluating the efficacy and safety of ozanimod, a novel, oral, selective sphingosine 1-phosphate 1 and 5 receptor modulator, versus a first-line treatment, Avonex, in patients with relapsing multiple sclerosis. The results were presented at the MSParis2017 - 7th Joint ECTRIMS - ACTRIMS Meeting, which is being held in Paris, October 25-28, 2017. The SUNBEAM study evaluated two doses of oral ozanimod in 1,346 patients with RMS in 20 countries treated for at least one year. A significant reduction in annualized relapse rate was demonstrated for ozanimod 1 mg and for ozanimod 0.5 mg compared with IFN over an average of 13.6 months of treatment. Ozanimod demonstrated a significant reduction in new or enlarging T2 lesions over one year for 1 mg and 0.5 mg compared with IFN. A significant reduction in gadolinium-enhanced MRI lesions at 1 year was also demonstrated for ozanimod 1 mg and ozanimod 0.5 mg compared with IFN. In SUNBEAM, a reduction in brain volume loss, a measure associated with MS disease progression, was observed for the ozanimod dose groups compared with the IFN group. Whole brain volume loss was reduced by 33 percent with the 1 mg dose of ozanimod and by 12 percent in the 0.5 mg group versus IFN at one year. In a pre-specified pooled analysis of the SUNBEAM and RADIANCE Part B studies, ozanimod did not reach statistical significance compared with IFN in the time to 3-month confirmed disability progression. A very low rate of disability progression was observed across all treatment groups. In SUNBEAM, the number of patients with 3-month confirmed disability progression by the end of the study was 13 in the ozanimod 1 mg group and 17 in the ozanimod 0.5 mg group compared with 19 in the IFN group.

09:07 EDT AbbVie says 'making significant advances in pipeline' - Comments from Q3 earnings conference call.

09:03 EDT Tompkins Financial increases quarterly dividend 4.4% to 47c per share - Tompkins Financial Corporation announced today that its Board of Directors approved payment of a regular quarterly cash dividend of 47c per share, payable on November 15, 2017, to common shareholders of record on November 7, 2017. The current dividend represents a 4.4% increase over the 45c cash dividend paid in the third quarter of 2016.

09:02 EDT Third Federal Savings reports results of 2017 company-run stress test - Third Federal Savings and Loan Association of Cleveland, the wholly owned subsidiary of TFS Financial Corporation, and Third Federal Savings and Loan Association of Cleveland, MHC, the Mutual Holding Company that owns approximately 81% of the outstanding shares of the company, reported the results of its 2017 company-run stress tests conducted in accordance with regulations of the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency under the Dodd-Frank Wall Street Reform and Consumer Protection Act. These company-run stress tests are designed to help assess whether financial institutions have sufficient capital to absorb losses and support operations using a hypothetical stressed scenario described by the Federal Reserve, over a nine-quarter projection period from December 31, 2016 to March 31, 2019. The stress testing requirements and expectations for financial institutions with assets between $10B and $50B, are significantly reduced compared to those with assets of $50B or more. The medium-sized companies, including the Association and MHC, are not subject to the Federal Reserve's annual Comprehensive Capital Assessment and Review, are not required to submit an annual capital plan, and are not subject to a supervisory approval or denial of their stress test results. The 2017 public disclosure marks the third disclosure for the Association's stress test results and also includes the stress test results for the MHC, which was subject to file Dodd-Frank Act Stress Test results for the first time.

08:48 EDT Vermillion's ASPiRA Labs awarded coverage in three states for OVA1 test - Vermillion company ASPiRA Labs has entered into agreements with Joint Venture Hospital Laboratories, QCA Health Plan of Arkansas, Louisiana State Medicaid program, and Arizona State Medicaid Program to provide coverage for its in vitro diagnostic test, OVA1. JVHL provides approximately 600 thousand BlueCare Network of Michigan members with access to OVA1 as an in-network benefit, while Qualchoice provides OVA1 access to more than 87 thousand people in Arkansas. Expanded Medicaid participation in key states accelerates OVA1 adoption.

08:46 EDT J.C. Penney plunges after slashing 2017 earnings view - Shares of J.C. Penney (JCP) plunged in pre-market trading after the retailer slashed its forecast for fiscal 2017 as it accelerated actions to liquidate inventory and overhauled its women's apparel department. Following the implementation of the "reset," the retailer said it has already seen an improvement in performance. THIRD QUARTER UPDATE: J.C. Penney said it expected to report an adjusted loss per share of (45c)-(40c) for the current quarter, well below the current analysts' consensus of a loss of (18c), and comparable store sales up 0.6%-0.8%. Cost of goods sold for the quarter are expected to increase 300 to 320 basis points compared to the same period last year, impacted primarily by a greater sales penetration in major appliances and e-commerce and the decision to accelerate the liquidation of inventory. Chairman and Chief Executive Officer Marvin Ellison stated that "based on the encouraging results from a third quarter reset in women's apparel, which expanded our casual and contemporary offering, we made the strategic decision to accelerate a wider transformation of the entire women's department by clearing slow-moving inventory primarily in women's and other apparel categories." He noted that "following this comprehensive reset, we saw an improvement in performance, particularly in our women's division." The retailer also said that Jeffrey Davis, its new Chief Financial Officer, will oversee the company's pricing and planning policies to improve its predictive analytics capabilities and get a better view of current sales trends. The retailer said the inventory liquidation favorably impacted sales during September and October, and that "although these actions will create a short-term negative impact to cost of goods sold and earnings, long term, we firmly believe it was the right decision for the company as we transition into the fourth quarter and fiscal 2018." J.C. Penney will report third quarter results on November 10. SLASHED FISCAL 2017 OUTLOOK: However, the "improvement" Ellison noted following the reset was not enough for the retailer to maintain its forecast, and J.C. Penney significantly cut its fiscal 2017 adjusted EPS view to 2c-8c from 40c-65c and comp sales down 1% to flat vs. its prior view of down 1% to up 1%. Prior to the report, analysts expected J.C. Penney would report FY17 EPS of 43c. Cost of goods sold for the year are now seen up 100-200 basis points vs. 2016 and free cash flow is now seen at $200M-$300M. WHAT'S NOTABLE: Retailers tend to clear out leftover inventory ahead of the critical holiday season to stock up on fresh merchandise. J.C. Penney and other mall-based retailers and department stores have been hurt by the increasing popularity of fast-fashion retailers like Zara, Forever 21, and H&M, as well as an increase in online shopping on sites such as Amazon (AMZN). PRICE ACTION: J.C. Penney is down 25% in pre-market trading. OTHERS TO WATCH: Peers trading lower ahead of the market open include Macy's (M) and Kohl's (KSS).

08:42 EDT Chevron capital and exploratory expenditures down to $13.4B in first nine months - Capital and exploratory expenditures in the first nine months of 2017 were $13.4B, compared with $17.2B in the corresponding 2016 period. The amounts included $3.3B 2017 and $2.7B in 2016 for the company's share of expenditures by affiliates, which did not require cash outlays by the company. Expenditures for upstream represented 89% of the companywide total in the first nine months of 2017.

08:36 EDT Chevron reports Q3 net oil-equivalent production 2.72 mbpd - Worldwide net oil-equivalent production was 2.72M barrels per day in third quarter 2017, compared with 2.51M barrels per day from a year ago. U.S. upstream operations incurred a loss of $26 million in third quarter 2017, compared with a loss of $212 million from a year earlier. The improvement reflected higher crude oil realizations. The company's average sales price per barrel of crude oil and natural gas liquids was $42 in third quarter 2017, up from $37 a year earlier. The average sales price of natural gas was $1.80 per thousand cubic feet in third quarter 2017, compared with $1.89 in last year's third quarter. Net oil-equivalent production of 681,000 barrels per day in third quarter 2017 was down 17,000 barrels per day from a year earlier. Production increases from shale and tight properties in the Permian Basin in Texas and New Mexico, and base business in the Gulf of Mexico, were more than offset by the impact of asset sales of 67,000 barrels per day, and normal field declines. The net liquids component of oil-equivalent production in third quarter 2017 increased 1 percent to 525,000 barrels per day, while net natural gas production decreased 13 percent to 932 million cubic feet per day primarily as a result of asset sales.

08:18 EDT athenahealth board adopts change in control severance plan - athenahealth disclosed that its board adopted a change in control severance plan for certain U.S. officers and executives. Each individual employed by the company or a subsidiary in the United States who is a Vice President, a Senior Vice President, an Executive Vice President, a President, the Chief Financial Officer or the Chief Executive Officer, and who is not otherwise covered by a severance plan, is eligible to receive severance benefits under the plans, the company noted.

08:13 EDT Merck says Q3 sales unfavorably impacted by about $135M from cyber-attack - "Additionally, as expected, revenue was unfavorably impacted by approximately $135 million from lost sales in certain markets related to the cyber-attack. Sales in the third quarter of 2017 compared with the third quarter of 2016 were also unfavorably impacted by approximately $150 million of additional sales in Japan in the third quarter of 2016 resulting from the timing of shipments. Sales in the third quarter of 2017 reflect incremental sales of approximately $130 million due to the recording of vaccine sales from 19 European countries that were part of the Sanofi Pasteur MSD vaccines joint venture, which was terminated on Dec. 31, 2016."

08:10 EDT HCI Group acquires Century Park office property in Tampa for $9.1M - Greenleaf Capital, LLC, the real estate division of HCI Group, has acquired the Century Park office property in Tampa, Florida for $9.1M. Located in Tampa's Westshore business district just across the street from HCI's current corporate headquarters, the 7.9 acre parcel includes a four-story, 68,900 square-foot office building occupied by Bank of America North America under a long-term lease.

08:07 EDT Exxon Mobil reports Q3 Downstream earnings of $1.5B - Downstream earnings were $1.5B, up $303M from the third quarter of 2016. Higher refining margins increased earnings by $1B. Volume and mix effects decreased earnings by $160M. All other items decreased earnings by $550M, reflecting the absence of favorable asset management gains of $380M in the prior year from the sale of Canadian retail assets and higher expenses related to Hurricane Harvey. Petroleum product sales of 5.5M barrels per day were 43,000 barrels per day lower than last year's third quarter.

08:03 EDT Exxon Mobil CEO says Q3 results 'a step forward in plan to grow profitability' - "A 50% increase in earnings through solid business performance and higher commodity prices is a step forward in our plan to grow profitability. For the fourth-consecutive quarter, we generated cash flow from operations and asset sales that more than covered our dividends and net investments in the business," said Darren Woods, chairman and CEO of Exxon Mobil.

08:02 EDT Tenet says James Bierman to join board, effective immediately - The company's board of directors appointed James Bierman to the board, effective immediately. Tenet's board now consists of 10 directors, nine of whom are independent.

08:01 EDT Tenet sees eliminating 1,300 positions in cost reduction initiative

08:00 EDT Allergan raises quarterly dividend for 2018 to 72c per share - "Following authorization of our new $2 billion share repurchase program in September, today's board approval to increase Allergan quarterly cash dividend for 2018 underscores our confidence in our long-term business outlook and strong cash flows. We expect to continue to increase our dividend on an annual basis," said Brent Saunders, Chairman and CEO of Allergan.

07:50 EDT Goodyear Tire CEO says industry conditions 'challenging' in Q3 - "During the third quarter, we saw a continuation of the challenging industry conditions we experienced in the second quarter including lower consumer replacement volumes, production cuts by automakers and an increase of more than 30 percent in our raw material input costs," said Richard Kramer, chairman, CEO and president. "Despite these headwinds, which we expect to moderate over the coming quarters, we continue to execute against our long-term strategy. We remain focused on the opportunities for driving profitable growth including our connected business model, which aligns all of our assets from our manufacturing plants to consumers who choose Goodyear online and at retail."

07:47 EDT Goodyear Tire sees FY17 segment operating income approximately $1.5B

07:44 EDT AbbVie reports Q3 global HUMIRA sales increased 15.8% on reported basis - Or 14.8% operationally, excluding a 1% favorable impact from foreign exchange. In the U.S., HUMIRA sales grew 19.1% in the quarter. Internationally, HUMIRA sales grew 6.8%, excluding a 2.9% favorable impact from foreign exchange.

07:42 EDT TG Therapeutics announces additional updated results from ongoing TG-1101 study - TG Therapeutics announced additional results from the Phase 2 multicenter trial of TG-1101, the company's novel glycoengineered anti-CD20 monoclonal antibody, in relapsing forms of Multiple Sclerosis, or RMS,. This data is being presented today during Poster Session 2, from 15:30 - 17:00 CEST, at the 7th Joint ECTRIMS - ACTRIMS meeting in Paris, France. Michael Weiss, the Company's Executive Chairman and CEO stated, "We are extremely pleased by the data presented today showing not only rapid and near complete B-cell depletion at week 4, as previously presented, but that these levels of depletion are also sustained nearly 6 months later with no additional infusions of ublituximab. Today's data coupled with yesterday's presentations showing complete elimination of T1 Gd-enhancing lesions in the first 20 patients treated, a well-tolerated safety profile, and improvements in EDSS give us increased confidence in our currently enrolling Phase 3 program." Weiss continued, "With what we believe to be an appealing and differentiated profile in MS we look forward to strong enrollment into our Phase 3 program and future presentations from the Phase 2 study as the data continues to mature." "This updated data presentation on the robust B-cell depletion occurring with ublituximab therapy is impressive in that the antibody appears to be extremely effective at rapidly depleting B-cells while maintaining those levels of depletion through 24 weeks. It is also very encouraging to see that the remainder of the immune system - NK cells, T-cells, and monocytes are able to return to a state of homeostasis shortly following ublituximab infusions. B-cell depleting agents have become an important treatment option for patients suffering from MS, and provided future data presentations and analysis continue to demonstrate the effects seen in the Phase 2 study, ublituximab could be an attractive treatment option for patients," stated Amy Lovett-Racke, PhD, Professor of the Department of Microbial Infection and Immunity at the Ohio State University Medical Center in Columbus, OH.

07:31 EDT AbbVie raises quarterly dividend 11% to 71c from 64c per share - The cash dividend is payable February 15, 2018 to shareholders of record at the close of business on January 12, 2018.

07:11 EDT Ionis Pharmaceuticals to open expanded access program for inotersen - Ionis Pharmaceuticals plans to open an expanded access program for eligible patients with hereditary transthyretin amyloidosis with polyneuropathy in the coming months. Ionis plans to open the first wave of EAP sites in the U.S. The company is on track to complete the regulatory filings for market authorization in the U.S. and EU before year end. It is having discussions with potential partners and preparing for the commercial launch of inotersen next year.

07:10 EDT Shire says on track to file NDA for SHP555 in qQ4, BLA for SHP643 by early 2018 - Shire said it is on track to file a NDA for SHP555 in chronic constipation in Q4 and a BLA for SHP643 in hereditary angioedema by late 2017 or early 2018.

07:09 EDT WisdomTree reports Q3 EPS 6c, consensus 6c - Reports Q3 revenue $57.99M, consensus $57.83M.

07:05 EDT Aaron's reports Q3 SSS down 5.6% - Excluding the stores impacted by the hurricanes, comparable store sales were down 5.0%. Customer count on a same store basis was down 4.6%. Company-operated Aaron's stores had 986,000 customers at September 30, 2017, a 0.5% increase from the third quarter of 2016.

07:04 EDT Aaron's reaffirms FY17 outlook - Excluding the estimated impact of the hurricanes, the Company is reaffirming its outlook for 2017 as outlined in the July 28, 2017 second quarter earnings press release. The Company will discuss the impact of Hurricanes Harvey and Irma in more detail on its third quarter earnings conference call.

07:02 EDT Phillips 66 sees FY17 CapEx and investments $2B, down from prior $2.7B view - Phillips 66 capital expenditures and investments for 2017 are expected to be approximately $2 billion, a reduction from the original budget of $2.7 billion. This decrease is primarily due to deferral of a final investment decision on incremental fractionation capacity. In Midstream, the company continues to invest in the Beaumont Terminal to increase storage capacity and export capabilities. An additional 3.5 million barrels of crude storage is expected to be in service by the end of 2018. Expansion of the terminal's export facilities, from a current capacity of 400,000 BPD to 600,000 BPD, is on schedule for completion in the first quarter of 2018. In Refining, the company is progressing return projects to improve clean product yields. A diesel recovery project at the Ponca City Refinery is expected to start up in the fourth quarter of 2017. The company is modernizing fluid catalytic cracking (FCC) units at both the Bayway and Wood River refineries with an anticipated completion during the first half of 2018.

06:59 EDT Bluerock Residential acquires 300-unit multifamily community - Bluerock Residential announced that it has acquired the 300-unit multifamily community known as Springs at Greystone in Birmingham, Alabama. The REIT acquired the property for a total purchase price of approximately $36.25M, or approximately $121,000 per residential unit.The company plans to implement a $1.8M interior, exterior and amenity renovation program to improve the property's curb appeal and strengthen its position among its competitive set. The acquisition is projected to yield a pro-forma stabilized cap rate of 6.3% after implementation of the value-add program.

06:57 EDT Colgate-Palmolive reports Q3 gross profit margin 60% vs. 60.1% a year ago - Excluding charges resulting from the Global Growth and Efficiency Program in both periods, Gross profit margin was 60.4% in third quarter 2017, even with the year ago quarter. Cost savings from the Company's funding-the-growth initiatives were offset by higher raw and packaging material costs.

06:56 EDT J.C. Penney cuts FY17 EPS view after actions to accelerate inventory liquidation - J. C. Penney provided a preliminary update on its expected third quarter performance, following actions taken during the quarter to accelerate the liquidation of inventory. The company's fiscal third quarter ends Oct. 28. "Based on the encouraging results from a third quarter reset in women's apparel, which expanded our casual and contemporary offering, we made the strategic decision to accelerate a wider transformation of the entire women's department by clearing slow-moving inventory primarily in women's and other apparel categories. Following this comprehensive reset, we saw an improvement in performance, particularly in our women's division, confirming these actions were necessary to drive growth in our women's apparel business," said CEO Marvin Ellison.

06:51 EDT Merck reports Q3 pharmaceutical sales down 3% to $9.2B - Including a 1% positive impact from foreign exchange.

06:49 EDT Merck sees FY17 GAAP effective tax rate 24.5%-25.5% - Sees FY17 adjusted effective tax rate 20%-21%.

06:46 EDT Commercial Metals acquires substantially all assets of MMFX Technologies - Commercial Metals announced that its wholly owned subsidiary, CMC Steel Fabricators, has acquired substantially all of the assets of MMFX Technologies. MMFX markets, sells, and licenses the production of proprietary specialty steel products, including its ChrundefinedmX line of high strength, corrosion-resistant rebar. MMFX operates out of Irvine, California, and its products are sold throughout the United States and Canada.

06:38 EDT Volkswagen says 'cooperating fully' with EU antitrust investigation - Says "cooperating fully" with EU on antitrust investigations of German automakers. Says "unclear" whether the EU will instigate formal proceedings.

06:33 EDT Astronics to acquire Telefonix for approximately $104M in cash - Astronics announced that it has entered into a definitive agreement to acquire substantially all of the assets of Telefonix and a related company, Product Development Technologies, for approximately $104M in cash, funded with Astronics' senior revolving credit facility. The acquisition is expected to close by year end, and is subject to typical closing conditions, including a review under the Hart-Scott-Rodino Antitrust Improvements Act. Telefonix has forecasted 2017 annual sales of approximately $60M-$70M. Its historical adjusted EBITDA margins have been consistent with Astronics' aerospace segment's past performance. The acquisition is expected to be accretive to earnings in 2018. Its impact on 2017 earnings will depend on the closing date and one-time acquisition related charges, but is expected to be nominal.

06:26 EDT UBS: Geopolitical tensions, macro uncertainty pose risks to client sentiment - Looking ahead, UBS said "We expect the global economic recovery to strengthen further, but geopolitical tensions and macroeconomic uncertainty still pose risks to client sentiment. In particular, high asset prices, uncertainty over central bank balance sheet and interest rate policies, seasonality factors and the persistence of low volatility may continue to affect overall client activity. Low and negative interest rates, particularly in Switzerland and the eurozone, put pressure on net interest margins, which may be partly offset by the effect of a further normalization of US monetary policy. Implementing Switzerland's new bank capital standards and further changes to national and international regulatory frameworks for banks will result in increased capital requirements, funding and operating costs. UBS is well positioned to mitigate these challenges and benefit from further improvements in market conditions."

06:13 EDT Google issues response to complaints about Pixel 2 XL smartphone - Google issued a response to the numerous complaints about the display of its Pixel 2 XL smartphone. The company stated that some of the issues, like screen burn-in, are to be expected on OLED panels, while it will work on an update to give users the option to have more saturated colors. "Our investigation so far has given us confidence that our displays are as great as we hoped they would be, though we're also taking steps to address the concerns we've heard," Google said. Reference Link

05:40 EDT Weyerhaeuser sees Q4 Timberlands earnings, adj. EBITDA higher than Q3 - Weyerhaeuser expects higher Timberlands segment earnings and Adjusted EBITDA in the fourth quarter compared with the third quarter. In the West, the company anticipates increased fee harvest volumes and slightly higher average log sales realizations, partially offset by higher road spending. In the South, the company anticipates slightly higher fee harvest volumes, more than offset by higher forestry expense due to weather-related deferral of third quarter activities. Average log sales realizations should be comparable to the third quarter. Weyerhaeuser expects significantly higher Real Estate, Energy & Natural Resources segment earnings and Adjusted EBITDA in the fourth quarter compared with third quarter. The company anticipates full year Adjusted EBITDA for the Real Estate, Energy & Natural Resources segment will be approximately $250 million. Weyerhaeuser anticipates fourth quarter Wood Products segment earnings and Adjusted EBITDA will be comparable to the third quarter. The company expects modestly higher average sales realizations for lumber and oriented strand board will be partially offset by slightly higher Western log costs. In engineered wood products, the company anticipates seasonally lower sales volumes, higher input costs, and increased per unit manufacturing costs due to planned seasonal and maintenance downtime.

05:26 EDT Sandoz proposed biosimilar pegfilgrastim accepted by EMA for regulatory review - Sandoz, a Novartis Division, announced that its biosimilar to EU-authorized Neulasta has been accepted by the European Medicines Agency for regulatory review. The comprehensive data package, submitted as part of the Marketing Authorization Application, includes analytical, preclinical and clinical data and strongly demonstrates that the biosimilar pegfilgrastim matches the reference medicine in terms of safety, efficacy and quality.

05:14 EDT Netflix promotes Jessica Neal to Chief Talent Officer - Netflix announced the promotion of Jessica Neal as Chief Talent Officer, leading the group responsible for culture, human resources, recruiting, and coaching the global team behind the world's leading internet entertainment service.