Stockwinners Market Radar for December 01, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:57 EDT Tortoise Power & Energy reports unaudited total assets $202.3M as of Nov. 30 - Reports unaudited net asset value was $148.2M, or $21.33 per share.

18:34 EDT Tortoise MLP reports unaudited total assets about $1.3B as of November 30 - Reports unaudited net asset value $754.1M, or $15.96 per share.

18:19 EDT Pengrowth Energy receives continued listing standard notification from NYSE - Pengrowth Energy announced that it received notification on December 1 from the New York Stock Exchange that Pengrowth is no longer in compliance with one of the NYSE's continued listing standards resulting from the average closing price of Pengrowth's common stock being less than US $1.00 per share over a consecutive 30 trading-day period. Under the NYSE's rules, Pengrowth has a period of six months from the date of the NYSE notification to regain compliance with the NYSE's price listing standard. Pengrowth can regain compliance if, during the applicable cure period following receipt of the NYSE notification, on the last trading day of any calendar month, Pengrowth's common stock has a closing price of at least US $1.00 per share and a 30 trading-day average closing price of at least $1.00 per share. Pengrowth common stock closed at a price of 85c on November 30 on the NYSE. Pengrowth intends to notify the NYSE of its intent to cure this price deficiency and return to compliance with the NYSE's price listing standard prior to the expiration of the applicable cure period. Pengrowth's common stock will continue to be listed and traded on the NYSE during the applicable cure period under the symbol "PGH", but the NYSE will assign a ".BC" indicator to the symbol to denote that Pengrowth is below the NYSE's price listing standard. This indicator will be removed at such time as Pengrowth is deemed compliant with the NYSE's price listing standard.

17:57 EDT FirstEnergy's Ohio utilities file modernization plan - FirstEnergy's Ohio utilities filed a plan at the Public Utilities Commission of Ohio aimed at reducing the frequency and duration of power outages by redesigning and modernizing portions of their distribution system. The plan outlines a three-year, $450M investment in projects that will create a stronger distribution system serving customers of Ohio Edison, Cleveland Electric Illuminating and Toledo Edison. The projects will help restore power faster, strengthen the system against adverse weather conditions, and enhance system performance by giving operators the ability to monitor and react to issues on the grid in real time. The proposed projects will particularly focus on redesigning certain distribution lines across FirstEnergy's Ohio footprint that have experienced power outages in the past. On average, FirstEnergy expects this work could reduce outages under normal conditions by as much as 30% or more, and speed restoration time by up to 25% on power lines targeted in the plan.

17:32 EDT Bryn Mawr Bank receives approval for Royal Bancshares of PA acquisition - Bryn Mawr Bank (BMTC) entered into an Agreement and Plan of Merger dated January 30, 2017, with Royal Bancshares of Pennsylvania (RBPAA), pursuant to which RBPI will merge with and into BMBC , and thereafter RBA will be merged with and into BMT. BMBC and RBPI are pleased to announce that on November 30, 2017, the Merger was approved by the Federal Reserve Board, which was the final regulatory approval necessary to complete the Merger. The Federal Reserve approval provides that the transaction may close upon expiration of a standard fifteen-day waiting period. Accordingly, the Merger is expected to close in December 2017, subject to satisfaction of customary closing conditions.

17:26 EDT Signet Jewelers says CFPB recommending legal action be taken against company - On September 6, 2017, the Consumer Financial Protection Bureau notified Signet that, in accordance with the CFPB's discretionary Notice and Opportunity to Respond and Advise process, the CFPB's Office of Enforcement is considering recommending that the CFPB take legal action against Signet, alleging that Signet violated SectionSection 1031 and 1036 of the Consumer Financial Protection Act of 2010, 12 U.S.C. SectionSection 5531, 5536, and the Truth in Lending Act, 15 U.S.C. Section 1601 et seq., and its implementing regulation, relating to in-store: credit practices, promotions, and payment protection products. The purpose of a NORA letter is to provide a party being investigated an opportunity to present its position to the CFPB before an enforcement action is recommended or commenced. This notice stems from an inquiry that commenced in late 2016 when Signet received and responded to an initial Civil Investigative Demand. Signet has cooperated and continues to fully cooperate with the CFPB. On September 27, 2017, Signet submitted a response to the NORA letter to the CFPB, which stated its belief that the potential claims lack merit. The Attorney General for the State of New York is investigating similar issues under its jurisdiction. Signet has been cooperating with the NYAG's investigation which remains ongoing. Signet continues to believe that its acts and practices relating to the matters under investigation are lawful. Signet is currently unable to predict the timing or outcome of the NORA process or NYAG investigation and no possible loss or range of losses, if any, arising from the investigations is able to be estimated.

17:17 EDT Fluor awarded $831M government contract - Fluor Enterprises Inc., Greenville, South Carolina, was awarded an $831M time-and-materials contract for construction services for all aspects of restoration of electric power to Puerto Rico. Nine bids were solicited with two bids received. Work will be performed in Puerto Rico, with an estimated completion date of Feb. 28, 2018. Fiscal 2018 Department of Homeland Security funds in the amount of $831M were obligated at the time of the award. U.S. Army Corps of Engineers, Huntsville, Alabama, is the contracting activity.

17:06 EDT Park West Asset Management reports 5% passive stake in Invitae

17:06 EDT APA, American Air reach pact to maintain full December schedule as planned - The Allied Pilots Association met with American Airlines senior management today to discuss APA's grievance concerning restrictions on premium pay and trip trading for December flying. APA and management have reached an agreement in principle addressing the respective needs of both sides, and the APA has withdrawn its grievance. "With this agreement in principle, we anticipate that American Airlines will be able to maintain a full December schedule as planned for its passengers," the union said in a statement. Reference Link

17:03 EDT Eli Lilly's Taltz receives FDA approval for treatment of PsA - Eli Lilly and Company announced that the U.S. Food and Drug Administration has approved Taltz injection 80 mg/mL for the treatment of adults with active psoriatic arthritis. Taltz was first approved by the FDA in March 2016 for the treatment of adult patients with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy. "PsA is a chronic, progressive and painful form of inflammatory arthritis that impacts approximately 1.6 million Americans living with the disease," said Christi Shaw, president, Lilly Bio-Medicines. "We are proud to offer a new treatment option that can provide improvements in joint symptoms for these patients, further demonstrating Lilly's overall commitment to immunology."

16:53 EDT Roaring Blue Lion Capital reports 5.5% stake in HomeStreet

16:32 EDT PayPal provides update on suspension of operations of TIO Networks - PayPal Holdings announced an update on the suspension of operations of TIO Networks, a publicly traded payment processor PayPal acquired in July 2017. A review of TIO's network has identified a potential compromise of personally identifiable information for approximately 1.6M customers. The PayPal platform is not impacted in any way, as the TIO systems are completely separate from the PayPal network, and PayPal's customers' data remains secure. As announced on November 10, PayPal suspended the operations of TIO to protect customer data as part of an ongoing investigation of security vulnerabilities of the TIO platform. This ongoing investigation has identified evidence of unauthorized access to TIO's network, including locations that stored personal information of some of TIO's customers and customers of TIO billers. As a result, PayPal is taking steps to protect affected customers. TIO has also begun working with the companies it services to notify potentially affected individuals, and PayPal is working with a consumer credit reporting agency to provide free credit monitoring memberships. Individuals who are affected will be contacted directly and receive instructions to sign up for monitoring.

16:16 EDT Meridian Bancorp raises quarterly dividend 25% to 5c per share - The board of directors of Meridian Bancorp, the holding company for East Boston Savings Bank, declared a quarterly cash dividend of 5c per common share, an increase of 1c per common share, or 25%, payable on January 2, 2018 to stockholders of record at the close of business on December 19, 2017. Richard J. Gavegnano, Chairman, President and Chief Executive Officer of the company, said, "This 25% increase in our quarterly dividend results from the continued strength of our loan, deposit and earnings growth that provides an opportunity to further enhance shareholder value."

16:11 EDT Nabors Industries, Saudi Aramco commence JV operations - Nabors Industries reported the commencement of operations of Saudi Aramco Nabors Drilling Company, or SANAD, the previously-announced 50/50 joint venture between Saudi Aramco and Nabors. SANAD is one of the anchor projects that has emerged from Saudi Arabia's efforts to introduce world-class industry hubs locally, in order to foster economic growth and job creation. Nabors and Saudi Aramco have made contributions of equal value consisting of cash and/or assets into the entity. Additionally, Nabors and Saudi Aramco have agreed that SANAD will purchase and operate fifty locally-sourced newly constructed rigs over a ten year period, at defined contracted economics.

16:07 EDT Heska names Catherine Grassman as Chief Accounting Officer - Heska announced that Catherine Grassman is promoted to Vice President, Chief Accounting Officer and Controller following the departure of John McMahon, Vice President and CFO. Grassman has been Heska's Corporate Controller since January 2017. Previously, Grassman was with PricewaterhouseCoopers, LLP for 15 years, most recently as Senior Manager.

16:05 EDT Potbelly continues to evaluate 'a range of strategic alternatives' - "The Board and the Strategic Review Committee remain engaged with our financial advisor, J.P. Morgan Securities, in evaluating a range of strategic alternatives. Potbelly remains committed to pursuing strategic options that would potentially significantly enhance shareholder value. Potbelly is a fantastic brand with tremendous potential. I am honored and excited to lead this company," said Alan Johnson. "I am enthusiastic about supporting the Board's evaluation of strategic options to maximize shareholder value and look forward to engaging with our shareholders, employees, franchisees, and customers as we chart the optimal future course for Potbelly. The great food, differentiated customer experience, and incredible people are a solid foundation for continued evolution of this brand and company. I look forward to working with our leadership team and employees."

16:03 EDT Potbelly names Alan Johnson as President, CEO - Potbelly announced that the Board of Directors has appointed Alan Johnson as the company's President and CEO and as a member of the Board of Directors. Johnson succeeds Michael Coyne, who has served as interim CEO. Coyne will continue to serve as the company's CFO.

16:01 EDT Amgen announces FDA approval of Repatha to prevent heart attack, stroke - Amgen announced that following priority review of its supplemental Biologics License Application, the U.S. FDA approved Repatha as the first PCSK9 inhibitor to prevent heart attacks, strokes and coronary revascularizations in adults with established cardiovascular disease. The FDA also approved Repatha to be used as an adjunct to diet, alone or in combination with other lipid-lowering therapies, such as statins, for the treatment of adults with primary hyperlipidemia to reduce low density lipoprotein cholesterol.

16:00 EDT Exxon Mobil to merger refining and marketing divisions - Exxon Mobil announced it will combine its refining and marketing operations into a single company, ExxonMobil Fuels & Lubricants Company, in the first quarter of 2018. Bryan Milton, currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Company, has been appointed president of the combined division by ExxonMobil's board of directors, effective Jan. 1, 2018. By combining activities of the two divisions - ExxonMobil Refining and Supply Company and ExxonMobil Fuels, Lubricants & Specialties Marketing Company - the company will achieve further integration to improve decision making and enhance performance in the market. The improvements will help the company to better respond to the needs of its customers and compete more effectively. ExxonMobil Fuels & Lubricants Company, along with ExxonMobil affiliates, will manage crude purchasing and logistics, refining, supply, trading, midstream, marketing and sales of refined products. Milton was appointed manager of the Baton Rouge chemical plant in 2006, and in 2008 he was assigned executive assistant to the chairman and chief executive officer of Exxon Mobil Corporation. In 2009, he was appointed vice president of Basic Chemicals for ExxonMobil Chemical Company. Before his current role, Milton was president of ExxonMobil Global Services Company. Milton was appointed to his current position in 2016.

15:04 EDT Synthesis Energy to change ticker symbol to 'SES' on Monday - Synthesis Energy Systems announced a reminder of its ticker symbol change from "SYMX" to "SES," as previously announced on November 30, 2017. "We believe that making this change more closely aligns our ticker symbol with our corporate name and further unifies our global brand-building initiatives," said DeLome Fair, SES's President and CEO. Commencing at the market open on December 4, 2017, the company's common stock will begin trading under its new symbol on Nasdaq, "SES," on a 1:8 reverse split adjusted basis.

13:44 EDT Deckers Brands says Glass Lewis recommends vote for all company nominees - Deckers Brands announced that proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services recommend that Deckers stockholders vote on the White proxy card for Deckers' director nominees at the 2017 Annual Meeting of Stockholders. Glass Lewis recommends that Deckers stockholders vote "FOR" ALL of Deckers' director nominees, the company stated. In making its recommendation, ISS stated, according to Deckers: "...The dissident has failed to justify its control of the board by failing to provide either a detailed business plan for the company going forward or a contingency plan that identifies a qualified and credible new management team should management continuity become an issue." Deckers also issued the following statement: "We are pleased that ISS has recommended that Deckers stockholders vote on the WHITE proxy card...ISS states that it cannot support Marcato's dissident slate due to two main factors: (1) the fact that robust contingency planning is missing from Marcato's case and (2) the risk of whole board replacement would very likely be disruptive to stockholder value."

13:08 EDT Ford expands safety recall in Canada adding 3,396 Explorers - Ford is expanding a safety recall in the Canadian provinces of Alberta, Saskatchewan and Manitoba, adding approximately 3,396 2011-12 Ford Explorer vehicles for replacement of rear suspension toe links. A previous action for 2013-17 Ford Explorer and Ford Police Interceptor Utility vehicles was announced in April 2017. The total number of vehicles now included in this action is 24,114.Affected vehicles operated in Alberta, Saskatchewan and Manitoba can experience unique mud accumulation in the rear frame pocket where the rear suspension toe link attaches to the frame, impeding articulation of the toe link, which may result in toe link fracture. A vehicle with a fractured toe link may experience noise and unusual vehicle handling characteristics, increasing the risk of a crash. Ford is aware of three accidents, one with injuries, associated with this issue. Reference Link

13:02 EDT Baker Hughes reports U.S. rig count up 6 to 929 rigs - Baker Hughes reports that the U.S. rig count is up 6 rigs from last week to 929, with oil rigs up 2 to 749, gas rigs up 4 to 180, and miscellaneous rigs unchanged. The U.S. Rig Count is up 332 rigs from last year's count of 597, with oil rigs up 272, gas rigs up 61, and miscellaneous rigs down 1 to 0. The U.S. Offshore Rig Count is down 2 rigs from last week to 20 and down 2 rigs year-over-year. The Canada Rig Count is up 7 rigs from last week to 222, with oil rigs up 4 to 111 and gas rigs up 3 to 111, and miscellaneous rigs unchanged. The Canada Rig Count is up 22 rigs from last year's count of 200, with oil rigs up 11, gas rigs up 13, and miscellaneous rigs down 2 to 0.

12:38 EDT Honda reports November U.S. sales up 8.3% to 133,166 vehicles - American Honda Motor reported November sales of 133,166 Honda and Acura vehicles, an increase of 8.3% over November 2016 and a new November record for the company. Honda Division reported an increase of 8.2% on total sales of 120,440 for a best-ever November, with cars rising 0.9% on sales of 57,459, and Honda trucks up 15.8% on sales of 62,981 for yet another new record. Acura Division sales climbed 9.5% in November, with cars gaining 11% on sales of 3,600 and trucks rising 8.9% on sales of 9,116 units.

12:30 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. BITCOIN HITS $11,000 BEFORE SLUMP: Bitcoin rose past $11,000 on Wednesday, gaining over $1,000 in less than 12 hours and hitting a record high for the cryptocurrency. However, the rapid increase raised concerns about a growing bubble and the digital currency fell quickly back below the $10,000 level it had just passed to recover near $9,500 during the day. 2. CFTC TO ALLOW BITCOIN PRODUCTS: On Friday, the U.S. Commodity Futures Trading Commission noted that the CME Group (CME) and the CBOE Futures Exchange (CBOE) self-certified new contracts for bitcoin futures products, and the Cantor Exchange self-certified a new contract for bitcoin binary options. CFTC chairman J. Christopher Giancarlo said, "Bitcoin, a virtual currency, is a commodity unlike any the Commission has dealt with in the past. As a result, we have had extensive discussions with the exchanges regarding the proposed contracts, and CME, CFE and Cantor have agreed to significant enhancements to protect customers and maintain orderly markets...Nevertheless, investors should be aware of the potentially high level of volatility and risk in trading these contracts." Once the contracts are launched, commission staff will engage in a variety of risk-monitoring activities and will continue to assess whether further changes are required to the contract design and settlement processes. 3. CME PLANS DEC. 18 LAUNCH: Concurrent with the CFTC announcement, CME Group announced that it has self-certified the initial listing of its Bitcoin futures contract to launch Monday, December 18, 2017. "We are pleased to bring Bitcoin futures to market after working closely with the CFTC and market participants to design a regulated offering that will provide investors with transparency, price discovery, and risk transfer capabilities," said chief executive officer Terry Duffy. "Though we have worked through a lengthy, comprehensive process with the CFTC to get to this point, we recognize bitcoin is a new, uncharted market that will continue to evolve, requiring continued collaboration with the commission and our clients going forward. At launch, our new Bitcoin futures contract will be subject to a variety of risk management tools, including an initial margin of 35%, position and intraday price limits, and a number of other risk and credit controls that CME Group offers on all of its products." CME Group's Bitcoin futures will be cash-settled, based on the CME CF Bitcoin Reference Rate which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. 4. NASDAQ TO LAUNCH FUTURES: Nasdaq (NDAQ) is planning to launch a bitcoin futures contract in 2018 making it the third U.S. exchange operator to plan derivatives contracts off the crytpocurrency, Reuters reported on Wednesday. Nasdaq, which does not yet have a date for the product, currently offers a bitcoin-based exchange-traded note on its Stockholm exchange. 5. STANDPOINT SETS $20,000 PRICE TARGET: On Wednesday, Standpoint Research analyst Ronnie Moas raised his 2018 price target for bitcoin to $20,000 from $14,000. There is "no way to justify" gold investments equaling 40 times than that of bitcoin, the analyst argues. He thinks an argument can be made that bitcoin will be equal to gold in 10-15 years. Currently, gold has $7T in investments to bitcoin's $180B, according to Moas. 6. "OUGHT TO BE OUTLAWED": On Bloomberg Television Wednesday, Nobel Prize-winning economist Joseph Stiglitz said, "Bitcoin is successful only because of its potential for circumvention, lack of oversight. So it seems to me it ought to be outlawed. It doesn't serve any socially useful function." He added, "It's a bubble that's going to give a lot of people a lot of exciting times as it rides up and then goes down." 7. 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 rose about 28% this week to $10,540 in U.S. dollars according to CoinDesk. Meanwhile, AMD shares fell 6% this week to $10.66 and Nvidia dropped nearly 10% on a weekly basis to $195.40. Bitcoin Investment Trust (GBTC) rose 25.7% this week to $1,620. 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.

12:08 EDT Toyota reports November U.S. sales down 3% to 191,617 units - Toyota Motor North America reported November sales of 191,617 units. With the same number of selling days in November 2017 compared to November 2016, sales were down 3.0% on volume and on a daily selling rate basis. Toyota division posted November sales of 164,499 units, down 2.4% on a volume and DSR basis. Lexus posted November sales of 27,118 units, down 6.7% on a volume basis and DSR basis.

12:05 EDT Man Group reports 8.54% passive stake in Orexigen

11:53 EDT Mednax trading resumes

11:48 EDT Mednax trading halted, volatility trading pause

11:33 EDT Markets sell off following reports of Flynn cooperation - The major stock market indices turned lower following reports that Retired Lt. Gen. and former adviser to President Trump Michael Flynn has made the decision to assist investigators in relation to his guilty plea for lying to the FBI. ABC News, citing people familiar with the plea agreement, reports that Flynn feels President Trump "has abandoned him and has agreed to answer questions about the president or anyone else." Reference Link

11:32 EDT Chemours raises dividend to 17c per share, reports $500M buyback authorization - Chemours announced that its board of directors approved the first quarter of 2018 cash dividend on the shares of the company's common stock in the amount of 17c per share, an increase of 14c per share from the previous level. The dividend will be paid on March 15, 2018 to stockholders of record as of the close of business on February 15, 2018. The company also announced today that the Chemours board authorized a $500M share repurchase plan. The authorization extends through the end of 2020.

11:26 EDT Chemours increases dividend to 17c from 3c per share

11:21 EDT Patterson Companies lower after research firm highlights customer loss - Shares of Patterson Companies (PDCO) are trading lower this morning after Cleveland Research indicated that the company will be losing its largest animal health customer's business to AmerisourceBergen (ABC) at the start of the new year. The firm speculates that the contract loss occurred after Patterson's most recent earnings call and is not already factored in the company's guidance for FY18, according to contacts. Patterson Companies shares are down 3.7% to $35.20 in morning trading.

11:10 EDT Nucor increases dividend to 38c per share - The board of Nucor increased the regular quarterly cash dividend on Nucor's common stock to 38c. This cash dividend is payable on February 9, 2018, to stockholders of record on December 29, 2017.

11:03 EDT Lemelson reports 10% stake in Geospace, urges share repurchases - Lemelson Capital Management, announced it has acquired, for its flagship Amvona Fund, LP, a stake of approximately 10% in shares of Geospace Technologies. In addition, it is urging the company to initiate an immediate share repurchase plan. Lemelson Capital believes the near-term intrinsic value of Geospace Technologies common stock to be at least $38 per share, with Chief Investment Officer Emmanuel Lemelson stating, "Geospace Technologies continues to experience significant increases in revenues and liquidity as evidenced by the more than $10 million in cash provided by operating activities in fiscal year 2017. We believe the company's non-cash charges, including aggressive inventory write-downs and subsequent sales of these same depreciated inventories at significant profits represent a tremendous store of shareholder value which is not reflected on the company's balance sheet and points to the need for an immediate and aggressive share buyback program."

11:01 EDT CGG SA trading resumes

10:57 EDT Chemours trading halted, news pending

10:41 EDT Ulta Beauty drops as quarterly guidance falls short of estimates - Shares of Ulta Beauty (ULTA) dropped in morning trading after the beauty retailer issued fourth quarter guidance that missed analyst expectations. Ulta beat on third quarter earnings per share and posted revenue that matched expectations. EARNINGS: After the market close on Thursday, Ulta reported third quarter EPS of $1.70, beating analysts' consensus estimates of $1.67, on revenue of $1.34B, meeting the consensus forecast. Comparable store sales were up 10.3% in the quarter, including e-commerce, driven by 6% transaction growth and 4.3% growth in average ticket. The company said that Hurricanes Harvey and Irma resulted in approximately $14M in lost sales for the quarter and approximately 100 basis points of negative impact to comp sales. E-commerce sales jumped 62.9% to $119.8M in Q3, from $73.6M last year. CEO Mary Dillon noted that Ulta faced a "moderation" in the growth rate of makeup, its largest category, and a "meaningful disruption" from the hurricanes in Q3. Looking ahead, Ulta forecast Q4 EPS of $2.73-$2.78, missing estimates of $2.84, on revenue of $1.926B-$1.959B, against the consensus of $1.93B. Comp sales for Q4 are expected to be up 8%-10% including e-commerce vs. an increase of 16.6% in the year-ago period. Despite the weaker than expected Q4 guidance, Ulta backed its fiscal year 2017 EPS view of growth in the high twenties percentage range, including the impact of the hurricanes and other items. Ulta also expects to achieve comp sales growth of 10%-11%, including e-commerce, and e-commerce sales growth of 50%-60%. WHAT'S NOTABLE: On October 18, Piper Jaffray analyst Erinn Murphy downgraded Ulta, citing a survey showing a slowdown in beauty spending by teenagers. Murphy said her firm's Fall 2017 Teen Survey results indicated spending declines of 13% in color cosmetics among all female teenagers. While skincare declines were "less bad," down 7% year-over-year, overall beauty wallet was down low-double digits. ANALYST COMMENTARY: Following Ulta's earnings report, RBC Capital, Wells Fargo, Cowen and Morgan Stanley all cut their respective price targets for Ulta shares. Loop Capital analyst Anthony Chukumba, however, said Ulta's results were impressive given the negative impact from Hurricanes Harvey and Irma, adding that the gross margin decline was largely related to those events. JPMorgan analyst Christopher Horvers noted that management re-committed to 20%-plus earnings growth in 2018 and believes this "will likely stave off what could have been a tough day for the stock" given the 110 basis point decline in gross margin for Q3. Jefferies analyst Stephanie Wissink said Ulta's earnings report was "positive" for Estee Lauder (EL), as MAC and Clinique were cited as major contributors to the company's 10.3% reported comp. PRICE ACTION: Ulta Beauty is down over 6% in morning trading to $208.25. Year-to-date, shares are down over 18%. Peer Sally Beauty (SBH) is also fractionally lower this morning.

10:31 EDT Ambarella rises after reporting quarterly earnings beat expectations - Shares of Ambarella (AMBA) are rising after the semiconductor design company reported better-than-expected earnings and offered guidance on Thursday. EARNINGS: After the market close on Thursday, Ambarella, a major supplier to camera maker GoPro (GPRO), reported third quarter earnings per share of 75c on a revenue of $89.1M, exceeding analyst estimates of 67c and $88.97M, respectively. The company also forecast fourth quarter revenue between $68M-$72M, in line with analyst estimates of $70.27M, and a gross margin between 62%-63% on a non-GAAP basis. GOPRO REVENUES SEEN DOWN: On Ambarella's third quarter conference call, CEO Fermi Wang said "We are very pleased with our execution and progress in the development of our computer vision solutions," adding, "In the automotive markets, we see opportunities in multiple applications spending car recorders, electronic mirror, surround view, advanced driver assistance systems or ADAS, and ultimately fully autonomous vehicles." However, CFO George Laplante said, "We expect GoPro (GPRO) revenues to decline to approximately $13M from $30.2M the same period in the prior year." BULLISH ANALYST REACTION: On Friday, Canaccord analyst Matthew Ramsay said Ambarella's solid Q3 results were driven by strength in several end markets including both professional and home security, automotive and wearable cameras. The analyst believes that although near-term bumps remain, the current share price undervalues the company's computer vision IP, growth potential and engineering teams. Ramsay reiterated his Buy rating and raised his price target to $67 from $65. Additionally, Morgan Stanley analyst Joseph Moore said Ambarella's commentary on its computer vision chip was notably stronger and he expects to get much more detail in the coming months. Ambarella management said they had sampled the first version of the CV chip to automotive and surveillance customers and there is a possibility they could announce auto development relationships for CV in 2018, maybe even the first half of the year, noted Moore, who maintained an Overweight rating and $60 price target on Ambarella shares. Meanwhile, Stifel analyst Kevin Cassidy said that Ambarella is continuing to gain traction in raising its dollar content per vehicle which is an important key for securing future CV-based automotive ADAS designs. The analyst said he believes the company will continue to expand in the automotive market via dashboard cameras and electronic mirrors and the company's takeover of VisLab will help it integrate intelligent processing capabilities into its drones and security cameras. He has a Buy rating and $62 piece target on the name. ROTH STAYS NEUTRAL: Roth Capital Partners analyst Suji Desilva said he thinks Ambarella represents a differentiated investment opportunity in low power video and machine vision processor but he expects near-term visibility to be limited. The analyst is encouraged by the company's retention of a strong gross margin and sees an "exciting growth opportunity" from automotive and consumer security in FY19, but he is waiting to see hints of ongoing core market demand stability and visibility. He has a Neutral rating and $50 price target on the stock. PRICE ACTION: Ambarella jumped 18.7% to $64.37 in morning trading. Shares are up 19.6% year-to-date. GoPro, meanwhile, is up 0.7% to $8.60 this morning.

10:21 EDT Gap to collaborate with Sarah Jessica Parker to launch LE kids collection - Gap announced a new limited-edition collection created for GapKids with actor and former Gap campaign star Sarah Jessica Parker. The collection is expected to be available for purchase to customers Spring 2018 through Gap online and GapKids stores in select countries including United States, Canada, United Kingdom, France, Italy, Greater China, Hong Kong and Japan.

10:01 EDT Sonoco Products announces five year, $2.725M fresh packaging initiative - Sonoco has announced a new research partnership with Clemson University: the Sonoco FRESH -- Food Research Excellence for Safety and Health -- initiative will develop new technologies and new forms of packaging to optimize the fresh food lifecycle. To establish the multi-disciplinary hub for innovation and research to advance fresh food packaging and distribution, Sonoco will contribute $1.725M over 5 years. The company will also sponsor business-driven research projects totaling $1M over that period. Sonoco FRESH is an extension of the partnership that created the Sonoco Institute of Packaging Design and Graphics at Clemson.

09:38 EDT Diana Containerships announces time charter contract for m/v Hamburg - Diana Containerships announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Wan Hai Lines Pte Ltd. for one of its Post-Panamax container vessels, the m/v Hamburg. The gross charter rate is $11,000 per day, minus a 3.75% commission paid to third parties, for a period of minimum one hundred twenty days to maximum two hundred twenty days. The charter commenced earlier today. The m/v Hamburg was previously chartered to CMA CGM, Marseille, at a gross charter rate of $6,700 per day, minus a 3.5% commission paid to third parties. This employment is anticipated to generate approximately $1.32M of gross revenue for the minimum scheduled period of the time charter.

09:31 EDT General Motors reports November U.S. sales down 3% to 245,387 vehicles - General Motors reported 245,387 deliveries in the United States in November, with large year-over-year increases in sales of Chevrolet, Cadillac, Buick and GMC crossovers to individual "retail" customers. Overall retail sales were essentially equal to last November. Commercial and government deliveries were up a combined 7%, driven by a 30% increase in full-size pickup sales and a 35% increase for the Chevrolet Tahoe PPV. Total fleet sales were down 13% after a 24% reduction in daily rental deliveries. Total sales were down 3%.

09:31 EDT Qudian endorses Notice of Regulations issued by People's Bank of China - Qudian announced its endorsement of the Notice of Regulations issued by People's Bank of China on December 1, 2017, which clearly lays out certain additional rules and regulations in relation to the operation of a cash loan business in China. The Company believes the Notice of Regulations is very timely and highly effective, and it will promote a healthy environment for credit services offered in China. Qudian has always and will continue to fully embrace these regulatory changes and is committed to be in full compliance with these additional rules and regulations. As a socially responsible Fintech company, Qudian has been and will continue to proactively embrace regulatory changes. Under regulators' guidance and supervision, Qudian endeavors to further optimize its product and service offerings, enhance education and protection of its credit users, and promote the healthy and sustainable development of the industry, together with the efforts of other players in the industry. Min Luo, Founder, Chairman and CEO of Qudian, commented, "With clearly stated regulatory guidance, we are confident in adopting these requirements and it allows us the opportunity to operate our business in a healthier industry environment." The company also announced it will increase its share repurchase program to up to $300M worth of its outstanding American Depositary Shares representing its Class A ordinary shares within the next twelve months. The increase of the repurchase program demonstrates the Board and management team's confidence in the company's future.

09:25 EDT Ford reports November U.S. sales up 6.7% to 210,771 vehicles - Retail performance was up 1.3% vs. last year. F-Series saw its best November results since 2001 with 72,769 pickups sold.

09:23 EDT On The Fly: Pre-market Movers - HIGHER: CME Group (CME), up 2.3% after the U.S. Commodity Futures Trading Commission noted that the Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CBOE) self-certified new contracts for bitcoin futures products, and the Cantor Exchange self-certified a new contract for bitcoin binary options... American Woodmark (AMWD), up 1.9% after reporting quarterly results and that it will acquire RSI Home Products. DOWN AFTER EARNINGS: Big Lots (BIG), down 2.2%... Genesco (GCO), down 16.6%. ALSO LOWER: RBS (RBS), down marginally after announcing it will closes 259 branches and cut 680 jobs... Limelight Networks (LLNW), down 4.5% after its 15M share Spot Secondary priced at $4.60.

09:20 EDT BlackBerry to pay Nokia $137M over payment dispute - BlackBerry (BB) announced that the International Chamber of Commerce's International Court of Arbitration has ruled against the company in a contract dispute with Nokia Corporation (NOK). On April 28, 2016, Nokia filed a Request for Arbitration with the International Chamber of Commerce International Court of Arbitration. The dispute related to whether certain payments allegedly due under a patent license contract between the companies are in fact owed to Nokia under the terms of the agreement. On November 29, 2017, the arbitration panel awarded Nokia approximately $137M. The dispute did not involve any allegations of IP infringement and BlackBerry is continuing to pursue patent infringement claims against Nokia via suits filed in both Germany and the U.S. In a prepared statement the company said: "BlackBerry is disappointed that the Court of Arbitration did not agree with our arguments in the case but we accept their decision. This ruling does not change BlackBerry's assertion that Nokia is infringing on our intellectual property and we are continuing to vigorously pursue legal remedies in both the U.S. and Germany." BlackBerry will record the amount of the award as a one-time GAAP-only charge.

09:02 EDT Actuant completes Viking SeaTech divestiture, Mirage Machines acquisition - Actuant Corporation announced it has completed the divestiture of the Viking SeaTech business to Acteon Group, a global subsea services business, and simultaneously acquired Mirage Machines, a provider of industrial and energy maintenance tools, from Acteon. The completion of the transactions follows receipt of all regulatory and other approvals. Total consideration for the previously announced transactions included proceeds of approximately $12M for Viking and payment of approximately $16M for Mirage, subject to final working capital adjustments. In addition, the company will record final impairment and divestiture charges in its fiscal 2018 second quarter financial results of approximately $15M-$20M.

09:01 EDT Cinedigm completes stock repurchase program - Cinedigm announced the settlement in full of the shares it purchased pursuant to the previously announced forward stock purchase transaction in April 2015. Pursuant to the Forward Stock Purchase Transaction, the company purchased 1,179,138 shares of its Class A common stock from Societe Generale in order to facilitate privately negotiated derivative transactions between the Forward Counterparty and holders of the Company's 5.5% Convertible Notes due 2035, all of which were recently cancelled, as previously announced. In light of such cancellations, the Forward Counterparty has settled all of such shares earlier than the contractual settlement date of April 2020 by delivering the shares to the company. The shares have been placed in treasury and are no longer outstanding.

08:59 EDT Fiat Chrysler reports November U.S. sales down 4% to 154,919 units

08:48 EDT Guaranty Federal Bancshares acquires Hometown Bancshares - Springfield, Missouri-based Guaranty Federal Bancshares and Carthage, Missouri-based Hometown Bancshares ointly announced today that they have executed a definitive Agreement and Plan of Merger providing for the merger of Hometown with and into Guaranty. Under the terms of the definitive merger agreement, each share of Hometown common stock will receive $20.00 in cash. The transaction is valued at approximately $4.6M. Hometown is the holding company for Hometown Bank. Hometown Bank has assets of approximately $183M, loans of $150M and deposits of $159M as of September 30, 2017. Following consummation of the merger, Guaranty will have approximately $950M in assets with 18 branch banking offices located in Missouri.

08:32 EDT Fox Factory acquires certain assets of Flagship - Fox Factory Holding announced the strategic acquisition of Flagship Inc., dba Tuscany Motor Company in an asset deal. Tuscany is a designer, manufacturer and distributor of premium aftermarket powered vehicle performance packages. FOX acquired 80% of the business for $53.4M in cash financed through a combination of its existing credit facility and cash on hand. The assets acquired by the Company include a small tuck-in acquisition completed by Tuscany on June 28, 2017 for $6M in cash. The agreement includes a provision for FOX to acquire the remaining 20% of the business in the future. Additionally, FOX expects to amortize a substantial portion of the purchase price for tax purposes.

08:31 EDT Standard Motor forms JV with Foshan Guangdong Automotive Air Conditioning Co. - Standard Motor Products announced that it has formed a joint venture with Foshan Guangdong Automotive Air Conditioning Co., a China-based manufacturer of air conditioning compressors for the automotive aftermarket and the Chinese Original Equipment market. Standard Motor Products will invest approximately $12.5M in the 50/50 joint venture. The new company is named Foshan FGD SMP Automotive Compressor Co., LTD. Eric P. Sills, Standard Motor Products' CEO and President, stated, "We believe that this transaction will enhance our position as a basic low-cost manufacturer and a leading supplier of temperature control parts to the aftermarket, as well as provide SMP with growth opportunities in the rapidly expanding China market. We welcome FGD into the Standard family. We believe the transaction will be accretive to earnings in year one, excluding one-time integration costs."

08:14 EDT Wendy's, DoorDash announce new delivery partnership - Starting December 1, Wendy's and DoorDash are partnering to bring fans what they've been craving: Wendy's deliciously different menu delivered right to their door. Wendy's is partnering exclusively with DoorDash, the technology company that connects customers with the best local businesses through door-to-door delivery.

08:08 EDT Cboe Futures Exchange submits product certification for bitcoin futures - Cboe Global Markets announced that Cboe Futures Exchange has filed a product certification with the Commodity Futures Trading Commission to offer bitcoin futures trading. The product certification is subject to regulatory review. The impending launch date of Cboe bitcoin futures, which will trade on CFE under the ticker symbol 'XBT,' will be announced shortly. XBTSM futures were made available for participant testing on November 13. Existing CFE Trading Privilege Holders can trade XBT futures via their existing connections. XBT futures market data will be made available over Cboe's market data feeds.

08:05 EDT CFTC to allow CME, CBOE to launch bitcoin products - The U.S. Commodity Futures Trading Commission noted that the Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CBOE) self-certified new contracts for bitcoin futures products, and the Cantor Exchange self-certified a new contract for bitcoin binary options. CFTC Chairman J. Christopher Giancarlo said regarding the news: "Bitcoin, a virtual currency, is a commodity unlike any the Commission has dealt with in the past. As a result, we have had extensive discussions with the exchanges regarding the proposed contracts, and CME, CFE and Cantor have agreed to significant enhancements to protect customers and maintain orderly markets. In working with the Commission, CME, CFE and Cantor have set an appropriate standard for oversight over these bitcoin contracts given the CFTC's limited statutory ability to oversee the cash market for bitcoin. Market participants should take note that the relatively nascent underlying cash markets and exchanges for bitcoin remain largely unregulated markets over which the CFTC has limited statutory authority. There are concerns about the price volatility and trading practices of participants in these markets. We expect that the futures exchanges, through information sharing agreements, will be monitoring the trading activity on the relevant cash platforms for potential impacts on the futures contracts' price discovery process, including potential market manipulation and market dislocations due to flash rallies and crashes and trading outages. Nevertheless, investors should be aware of the potentially high level of volatility and risk in trading these contracts." Once the contracts are launched, Commission staff will engage in a variety of risk-monitoring activities. As trading on these DCMs evolves, the Commission will continue to assess whether further changes are required to the contract design and settlement processes and work with the DCMs to effect any changes, the CFTC added.

08:02 EDT CGG SA trading halted, news pending

08:02 EDT CFTC to allow CME, CBOE to launch bitcoin products

08:01 EDT South State, Park Sterling Bank complete merger - South State Corporation (SSB) announced the completion of its merger with Park Sterling Corporation (PSTB). Under the terms of the merger agreement, Park Sterling shareholders will receive 0.14 shares of South State common stock in exchange for each Park Sterling share outstanding immediately prior to the merger. Park Sterling Bank, the Park Sterling Corporation bank subsidiary, has merged with South State Bank, a South Carolina banking corporation and the wholly owned banking subsidiary of South State Corporation.

07:40 EDT Wipro to contest allegations in National Grid lawsuit, refutes claims - Wipro (WIT) said that it would "vigorously contest" allegations in a lawsuit filed by National Grid US (NGG) seeking damages of over $140M related to a project that dates back to 2009. The lawsuit was filed by the American unit of British electricity and gas utility major National Grid in a New York court, Wipro said in a statement, adding that the suit is related to an enterprise resource planning implementation project. The company said it joined the project in 2010 and that is was completed in 2014. Reference Link

07:31 EDT Novocure announces reimbursement approval for Optune in Japan - Novocure announced that the Japanese Ministry of Health, Labour and Welfare has approved the recommendation by Japan's Central Social Insurance Medical Council to provide reimbursement for Optune for the treatment of newly diagnosed glioblastoma. Optune is a noninvasive, portable device approved in Japan to treat newly diagnosed and recurrent GBM. Optune delivers Tumor Treating Fields to selectively disrupt mitosis in dividing cancer cells. Novocure's phase 3 pivotal EF-14 trial compared Optune in combination with temozolomide to temozolomide alone in 695 patients with newly diagnosed GBM. The trial was designed to test both progression free survival and overall survival. The trial demonstrated unprecedented five-year survival results in newly diagnosed GBM. Patients treated with Optune in combination with temozolomide experienced a significant extension of overall survival without added systemic toxicity compared to patients treated with temozolomide alone. The data also showed that Optune-treated patients were able to maintain quality of life for longer compared to patients treated with temozolomide alone.

07:21 EDT FDA approves Indivior's Sublocade injection for opioid addiction - Indivior yesterday announced that the FDA has approved Sublocade injection for subcutaneous use, the first and only once-monthly injectable buprenorphine formulation for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a transmucosal buprenorphine-containing product followed by dose adjustment for a minimum of seven days. Sublocade is expected to be available to patients in the U.S. in Q1 of 2018. The injection contains buprenorphine, a partial agonist at the mu-opioid receptor. Alkermes' (ALKS) Vivitrol is currently on the market as a once-monthly treatment to prevent relapse in opioid dependent patients following detoxification.

07:03 EDT Aradigm announces FDA advisory committee meeting for Linhaliq on January 11 - Aradigm Corporation announced that a meeting of the Antimicrobial Drugs Advisory Committee of the U.S. Food and Drug Administration has been scheduled for January 11, 2018 to review the company's New Drug Application for Linhaliq for the treatment of non-cystic fibrosis bronchiectasis patients with chronic lung infections with Pseudomonas aeruginosa. Aradigm submitted the NDA for Linhaliq to the FDA in July 2017, following which the FDA set a PDUFA goal date of January 26, 2018 for the completion of its review. "FDA informed us, upon acceptance of our NDA, that they were planning an Advisory Committee for Linhaliq. At that time, we began preparing for this meeting together with a team of external key opinion leaders in the fields of chronic lung infections and U.S. drug regulations. We welcome the opportunity to discuss publicly our Linhaliq clinical study results with the Advisory Committee in January. Our ultimate goal is to bring a much needed therapeutic treatment to NCFBE patients, a population with a high unmet medical need," said Igor Gonda, Ph.D., President and CEO at Aradigm.

07:03 EDT Nippon Life Insurance to purchase 24.75% stake in TCW from Carlyle Group - The TCW Group announced that Nippon Life Insurance Company, Japan's largest private life insurance company, will purchase a 24.75% minority stake in TCW from The Carlyle Group. Upon the close of the transaction, TCW's employee ownership will increase to 44.07% and Carlyle will maintain a significant interest in the company with its long duration private equity fund, Carlyle Global Partners, acquiring a 31.18% stake. Financial terms of the transaction were not disclosed. The transaction is subject to certain required approvals and expected to close by the end of 2017.

07:01 EDT Dow completes sale of part of Dow AgroSciences' corn hybrid seed unit for $1.1B - The Dow Chemical Company, a subsidiary of DowDuPont, announced the successful closing of the previously announced divestment of a select portion of its Dow AgroSciences' corn seed business in Brazil to CITIC Agri Fund for a purchase price of $1.1B. The sale is part of the required regulatory remedies of the DowDuPont merger transaction, which closed on August 31, 2017. The divestiture scope includes four corn seed production sites and four research centers, along with a copy of the Dow AgroSciences' Brazilian corn germplasm bank, certain commercial and pipeline hybrids, and the Morgan trademark. CITIC Agri Fund also received a license to the Dow Sementes trademark for 12 months. The Agriculture Division of DowDuPont will retain Dow AgroSciences' Brazilian corn germplasm bank and the remainder of its corn seed production sites and research centers, commercial and pipeline corn hybrids and other related assets. With the completion of this divestiture, the Agriculture Division of DowDuPont is moving forward with a comprehensive and balanced portfolio and a robust pipeline of innovative solutions across seed, crop protection, seed-applied technologies and digital agriculture.

06:46 EDT Apple, Stanford University partner to launch Apple Heart Study app - Apple yesterday launched the Apple Heart Study app, a first-of-its-kind research study using Apple Watch's heart rate sensor to collect data on irregular heart rhythms and notify users who may be experiencing atrial fibrillation. To calculate heart rate and rhythm, Apple Watch's sensor uses green LED lights flashing hundreds of times per second and light-sensitive photodiodes to detect the amount of blood flowing through the wrist. The sensor's unique optical design gathers signals from four distinct points on the wrist, and when combined with powerful software algorithms, Apple Watch isolates heart rhythms from other noise. The Apple Heart Study app uses this technology to identify an irregular heart rhythm. Apple is partnering with Stanford Medicine to perform the research. As part of the study, if an irregular heart rhythm is identified, participants will receive a notification on their Apple Watch and iPhone, a free consultation with a study doctor and an electrocardiogram patch for additional monitoring. The Apple Heart Study app is available in the US App Store to customers who are 22 years or older and have an Apple Watch Series 1 or later.

06:32 EDT Magellan Health backs FY17 guidance given on November 1

06:29 EDT Trump says tax bill 'getting better and better' - President Donald Trump just tweeted, "Republicans Senators are working hard to pass the biggest Tax Cuts in the history of our Country. The Bill is getting better and better. This is a once in a generation chance. Obstructionist Dems trying to block because they think it is too good and will not be given the credit!"

06:07 EDT American Woodmark to acquire RSI Home Products - American Woodmark announced that it has entered into a definitive agreement and plan of merger with RSI Home Products, a manufacturer of kitchen and bath cabinetry and home storage products. Under the terms of the agreement, the implied enterprise value for RSI is approximately $1.08B, including $140M in American Woodmark common stock to be issued to RSI shareholders, approximately $346M in net cash to be paid to RSI shareholders and approximately $589M of RSI debt to be assumed by American Woodmark. The cash portion of the consideration is subject to customary working capital adjustments.

06:02 EDT Camping World declares regular, one-time, special dividend - Camping World Holdings announced that its Board of Directors declared a cash dividend of 28.32c per share on the company's Class A Common Stock and a cash distribution of 21c per common unit on CWGS Enterprises, LLC's common units. Payment is expected to be made on December 29, 2017, to stockholders of record at the close of business on December 15, 2017. The CWH Class A common stock cash dividend of 28.32c per share is comprised of the regular quarterly cash dividend of 8c per share, a one-time cash dividend of 13c per share, both funded by the 21c per common unit cash distribution by CWGS Enterprises, LLC to all holders of its common units, including CWH, and a 7.32c per share special cash dividend representing a portion of the tax distribution from CWGS Enterprises, LLC that is in excess of the corporate income taxes payable by CWH.

05:42 EDT Pfizer enters agreement to develop, commercialize Cresemba in China - Pfize and Basilea Pharmaceutica announced they have entered into an agreement whereby Pfizer will be granted the exclusive development and commercialization rights in China and several countries in the Asia Pacific region to Cresemba. Cresemba is a novel antifungal medicine for the treatment of adult patients with diagnosed invasive aspergillosis and mucormycosis1, two serious infections associated with significant morbidity and mortality among immunocompromised patients, such as those with advanced HIV and those with cancer. Under the terms of the agreement, Pfizer will have exclusive rights to develop, distribute and commercialize Cresemba in sixteen Asian Pacific countries and China, including Hong Kong and Macao. These rights do not include Japan. In addition, Pfizer will become the marketing authorization holder for the Asia Pacific Region and China. The specific financial terms of the agreement remain confidential. The agreement is subject to customary regulatory approval.

05:29 EDT Foundation Medicine announces FDA approval of FoundationOne CDx - Foundation Medicine announced that the FDA approved FoundationOne CDx, the company's comprehensive companion diagnostic test for solid tumors. FoundationOne CDx is intended for use by health care professionals to help inform cancer treatment management in accordance with professional guidelines for patients with solid tumors.

05:12 EDT Dish reaches retransmission consent agreement with Lilly Broadcasting - DISH Network, a wholly owned subsidiary of DISH Network, has reached a multi-year agreement with Lilly Broadcasting for carriage of the broadcaster's channels in Puerto Rico, U.S. Virgin Islands, and three other markets in Pennsylvania, New York and Hawaii. Terms of the agreement were not disclosed.