Stockwinners Market Radar for December 14, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:32 EDT Pfizer announces FDA approval of Xeljanz - Pfizer announced that the FDA has approved Xeljanz 5 mg twice daily and Xeljanz XR extended release 11 mg once daily for the treatment of adult patients with active psoriatic arthritis, or PSA, who have had an inadequate response or intolerance to methotrexate or other disease-modifying antirheumatic drugs. Xeljanz/Xeljanz XR is the first and only Janus kinase inhibitor approved by the FDA for both moderate to severe rheumatoid arthritis and active PsA. The FDA approval of Xeljanz for the treatment of adult patients with active PSA was based on data from the Phase 3 Oral Psoriatic Arthritis Trial, or OPAL, clinical development program, which consisted of two pivotal studies, OPAL Broaden and OPAL Beyond, as well as available data from an ongoing long-term extension trial, OPAL Balance.

18:28 EDT MiMedx posts new materials on website exposing misinformation from short sellers - MiMedx announced that it has posted additional materials on the company's website that further expose the misinformation disseminated through short sellers. Reference Link

17:40 EDT Sempra Energy, Oncor announce settlement with key stakeholders - Oncor Electric Delivery Company and Sempra Energy announced a settlement agreement with several key stakeholders for Sempra Energy's pending acquisition of Energy Future Holdings Corp., including EFH's indirect, approximate 80% ownership of Oncor. The parties to the settlement agreement include Staff of the Public Utility Commission of Texas, the Office of Public Utility Counsel, Steering Committee of Cities Served by Oncor, and Texas Industrial Energy Consumers. This settlement agreement is a significant step forward, demonstrating positive momentum for Sempra Energy's proposed acquisition of a majority stake in Oncor, both companies said. With this settlement, the parties have agreed that the acquisition is in the public interest, meets Texas statutory standards, and will bring substantial benefits. The parties to the agreement will ask the PUCT to approve the acquisition, consistent with the governance, regulatory and operating commitments in the settlement agreement.

17:34 EDT Oracle says switching from Amazon.com will cut bills in half

17:31 EDT Adobe 'pleased' with subscription bookings and advertising cloud - Says photography offering has been "very popular". Says "pleased" with strength in subscription bookings as well as advertising cloud. Says subscription revenue is the way the company is going to measure the health of the business. Comments taken from Q4 earnings call.

17:24 EDT Oracle CEO Hurd says pipeline is 'biggest we've ever had'

17:20 EDT Adobe says advertising cloud had a 'strong' year - Says advertising cloud had a "strong" year, and achieved the expectations we set in January for TubeMogul. Subscription revenue growth was helped by "strong" performance with Adobe experience manager, Adobe campaign and Adobe audience manager during the year. Comments taken from Q4 earnings call.

17:17 EDT Urstadt Biddle raises quarterly dividend by 0.5c to 27c - At their regular meeting today, the directors of Urstadt Biddle Properties Inc. (UBA and UBP) approved an increase in the quarterly dividend rate declared for its Common stock and Class A Common stock. The quarterly dividend rate declared for the Common Stock was increased to $0.24 per share and the quarterly dividend rate declared for the Class A Common stock was increased to $0.27 per share, which represents an annualized increase of $0.02 per share for both classes of common stock. The $0.02 dividend increase represents the twenty-fourth consecutive year that the company has increased total dividends to its shareholders. The Common and Class A Common dividends are payable January 19, 2018 to stockholders of record on January 5, 2018.

17:14 EDT NQ Mobile announces partnership with Chery Automotive - NQ Mobile Inc announced that its subsidiary, Linkmotion Holdings Lt has signed a new partnership with Chery Automotive Co., Ltd. Chery's Prospective Technology Research Institute and Linkmotion will together develop a technology platform for the future connected automobiles, including fully autonomous vehicles. Utilizing its existing and commercially-available solutions, Linkmotion will be responsible to develop the operating system for this technology platform. As the operating system vendor, Linkmotion will draw on its experience and expertise in developing this operating system's security architecture, online diagnostics, as well as running on Linux.

17:04 EDT United Technologies awarded $6.7B U.S. Air Force contract - United Technologies Corp., Pratt & Whitney, East Hartford, Connecticut, has been awarded a ceiling $6,700,000,000 indefinite-delivery/indefinite-quantity contract for F119 engine sustainment. Expected completion date Dec. 31, 2025.

16:59 EDT Presbia executive chairman resigns as company reorders operational priorities - Presbia announced that it has re-ordered its operational priorities to focus its resources on FDA approval as well as ongoing clinical and commercial efforts in Germany and South Korea. These actions reduce the company's cash burn rate by eliminating pre-FDA approval marketing, manufacturing and engineering expenses related to the post-FDA approval U.S. commercial launch of the Presbia Flexivue Microlens. Presbia's efforts are focused on the valuable intellectual property developed by the company since 2008. In parallel, Presbia has received an investment proposal from Orchard Capital Corporation, which is affiliated with Presbia's majority shareholder, to invest up to $5M in the company's preferred shares. The proposed investment, together with existing cash-on-hand and a reduced burn rate, is expected to fund Presbia's operations for the entirety of 2018 and through the anticipated FDA approval of the Flexivue Microlens. Presbia continues to explore other financing options and plans to finalize the capital raise by mid-February 2018. Also, the board of directors accepted the resignation of Randy Thurman, Executive Chairman, and Todd Cooper, board member, President and CEO, effective on December 11, 2017. The board of directors elected Mark Yung as Executive Chairman of the board and CEO of Presbia. Mark Yung has previous experience as chairman, CEO and senior management of various technology and manufacturing companies, where he successfully led strategy setting and execution.

16:51 EDT Hess Corp. up 6.5% after DJ reports Elliot seeks to replace CEO - In after-hours trading, shares are up 6.5% to $45.45.

16:41 EDT Senator Investment reports 5.7% passive stake in Gogo

16:40 EDT Oracle slips 4.5% after quarterly results, stock buyback increase

16:38 EDT Adobe up 1.4% after quarterly earnings, guidance

16:35 EDT Rosehill Resources sees 2018 production 15,500-17,000 Boe/d - Sees 2018 Capital $350M-$375M. Sees 2018 adjusted EBITDA $170M-$190M. 2018 guidance assumes the company will utilize a two-rig drilling program for the first three quarters of 2018, with a third rig to be added during Q4, and a dedicated frac crew for the full year. The company expects to drill between 50 and 54 wells in 2018, completing between 42 and 46 wells. The company expects to enter 2018 with six to eight drilled uncompleted wells and to exit 2018 with 12 to 16 DUCs.

16:34 EDT BioDelivery Sciences re-acquires ONSOLIS from Collegium Pharmaceutical - BioDelivery Sciences International announced that it has received the required 90-day notice from Collegium Pharmaceutical, Inc. regarding termination of the license and development agreement for ONSOLIS between BDSI and Collegium. BDSI and Collegium entered into a license and development agreement for U.S. rights to ONSOLIS in May 2016, and the companies have since been collaborating on the transfer of product manufacturing to a new supplier. Collegium's decision to terminate the license involved their recent execution of a license agreement to commercialize Nucynta Immediate Release and Nucynta ER. Termination of the agreement will be effective on March 8, 2018.

16:31 EDT TrueCar, California New Car Dealers Association settle lawsuit - TrueCar and the California New Car Dealers Association are pleased to announce that, in resolution of the litigation between the parties, TrueCar has agreed to transition its billing model in the State of California from a pay-per-sale model with a cap to a flat-fee subscription billing model by January 1, 2019, and also to double the indemnity that it provides to California dealers who participate on the TrueCar program. Unlike TrueCar's current subscription billing model in California, the flat-fee subscription billing model will not include a "sales guarantee" as a retroactive adjustment mechanism

16:31 EDT Liberty Tax names Nick Bates CFO - Liberty Tax announced that Nick Bates will assume the position of CFO, effective January 1, 2018. Bates will succeed Kathy Donovan, who will provide consulting services to the company until March 31, 2018, in order to promote a smooth transition.

16:26 EDT Spero Therapeutics initiates Phase 1b study of SPR741 - Spero announced today the initiation of a Phase 1b drug-drug interaction trial of SPR741, a novel investigational agent that is designed to expand the spectrum and increase the potency of a partner antibiotic when administered in combination. It is the first product candidate from Spero's Potentiator Platform. The trial was initiated in the United Kingdom in November 2017 as previously planned following approval from the Medicines and Healthcare products Regulatory Agency and the Company's pre-IND discussions with the FDA in late November 2017. The trial will study SPR741 administered in 30 healthy volunteers as a single dose in combination with compounds from the beta-lactam class of antibiotics, including cephalosporins, monobactams and beta-lactams/beta-lactamase inhibitors. The trial will assess the impact, if any, on the standalone pharmacokinetics of SPR741 or the standalone pharmacokinetics of the beta-lactam combination drug when the two are dosed together as a single dose. We continue to expect to receive top-line data from this trial in the first half of 2018. Following those results, we expect to be in a position to identify the most attractive partner antibiotic to take into a Phase 2 combination trial. That decision will be based on factors including results of our Phase 1b study, our selection of an antibiotic partner, current and future FDA feedback, and the status of other products in our portfolio such as SPR206. After we assess these factors, we expect to provide guidance on the initiation of our Phase 2 combination trial of SPR741.

16:24 EDT Host Hotels announces20c per share Q4 dividend, 5c per share special dividend - Host Hotels & Resorts announced that its board authorized a regular quarterly cash dividend of 20c per share and a special dividend of 5c per share, bringing the total dividends declared for the year to 85c per share. The dividend is payable on January 15, 2018, to stockholders of record on December 29, 2017.

16:22 EDT Wright Medical acquires IMASCAP for $88.8M in cash, stock - Wright Medical Group N.V. announced the acquisition of IMASCAP SAS, a leader in the development of software-based solutions for preoperative planning of shoulder replacement surgery. The transaction ensures exclusive access to breakthrough software enabling technology and patents to further differentiate Wright's product portfolio and to further accelerate growth opportunities in Wright's global Extremities business. Under the terms of the agreement with IMASCAP, Wright acquired 100% of IMASCAP's outstanding equity on a fully diluted basis for total consideration, net of acquired cash, of EUR75.1M or approximately $88.8M, consisting of approximately EUR39.7M, or approximately $46.9M, in cash and approximately EUR13.2M, or approximately $15.6M, of Wright ordinary shares, payable at closing, and approximately EUR22.2M, or approximately $26.3M, in potential earnouts and milestone payments for new software modules and a potential future implant system.

16:17 EDT DDR Corp. board approves plan to spin off portfolio of 50 assets - DDR Corp. announced that the company's Board of Directors has unanimously approved a plan to spin off a portfolio of 50 assets, comprised of 38 Continental U.S. assets and the entirety of the Puerto Rico portfolio into a separate publicly-traded REIT to be named Retail Value Trust. DDR's management team selected the properties for the portfolio of the remaining company based on performance and growth characteristics, resulting in the creation of a high-quality, high-growth portfolio located entirely in the Continental U.S. The portfolio transformation further simplifies DDR, improves focus, and maintains scale and balance sheet strength. New DDR expects to pursue a business strategy of maximizing earnings and NAV per share growth through releasing, redevelopment and opportunistic investment. RVT expects to focus on realizing value in its portfolio through operations and private market sales of its 38 Continental U.S. assets and all 12 of DDR's Puerto Rico assets with a combined gross book value of approximately $3B as of September 30, 2017. The Continental U.S. assets are characterized by stable cash flows and measurably higher quality and demographics than the $1B of assets DDR disposed so far in 2017. RVT will be externally managed by DDR for maximum cost efficiency. RVT will be capitalized with committed mortgage financing of $1.35B expected to fund in early 2018. Proceeds are expected to be used to repay debt at DDR, positioning New DDR to achieve the previously stated goal of 6.0x Net Debt/Adjusted EBITDA in 2018. RVT intends to elect to be treated as a REIT for U.S. federal income tax purposes. Shareholders of DDR will receive shares of RVT via a taxable pro rata stock distribution. While New DDR's dividend will be adjusted to reflect the smaller size of the Company, DDR expects that shareholders will recognize the value of the difference through regular dividends as well as return of capital by RVT over time. DDR does not expect to make any change to its recurring quarterly dividend prior to the spin of RVT. It is expected that three of DDR's current Directors will leave DDR's Board of Directors to join RVT's Board of Directors upon completion of the transaction, to be replaced at New DDR in the ordinary course. RVT's Board of Directors is expected to have a majority of independent members. RVT expects to confidentially file its initial Form 10 registration statement with the U.S. SEC in the first quarter of 2018, and the spin-off is expected to be completed during the summer of 2018. The transaction is subject to certain conditions, including the effectiveness of RVT's Form 10 registration statement and final approval and declaration of the distribution by DDR's Board of Directors. The transaction does not require shareholder approval.

16:16 EDT Regency Centers announces final settlement of common stock forward sale pact - Regency Centers Corporation announced the final settlement of its forward sale agreement, originally dated March 17, 2016 and amended on June 14, 2017, in connection with its common stock offering that closed on March 23, 2016. Upon settlement of 1,250,000 shares of the company's common stock, Regency received approximately $89.1M of net proceeds after adjustments for interest, dividends and the underwriters' discount but before deducting offering expenses. The company will use the Proceeds to fund acquisition opportunities and for general corporate purposes.

16:13 EDT RumbleON announces strategic partnership with Sonic Automotive - RumbleOn (RMBL) announced that they have entered into a strategic partnership with Sonic Automotive (SAH). Sonic Automotive currently operates over 100 dealerships in 13 states and 25 major metropolitan markets. This strategic partnership enhances RumbleOn's ability to acquire quality inventory direct from consumers for the RumbleOn Marketplace. Under this strategic partnership, Sonic will gain access to RumbleOn's e-commerce platform to provide instant appraisals and liquidity, enabling Sonic to aggressively trade for motorcycles on their car and truck transactions. This significantly enhances RumbleOn's ability to scale its direct from consumer acquisition strategy while providing incremental sales opportunities for auto dealers across the country.

16:11 EDT Hyatt increases share repurchase authorization by $750M - Hyatt announced that its boards has authorized the repurchase of up to an additional $750M of the company's common stock. The authorization is consistent with Hyatt's ongoing commitment to return meaningful capital to stockholders while continuing to invest in growth opportunities. Year-to-date through November 15, the company repurchased over $700M of common stock. As of December 14, the company had approximately $864M available under its share repurchase authorization.

16:10 EDT Owens Realty Mortgage declares quarterly dividend of 10c per share - The dividend is payable on January 12, 2018 to stockholders of record at the close of business on December 31, 2017.

16:09 EDT MTGE Investment Corp. raises quarterly dividend to 50c from 45c per share - The dividend is payable on January 9, 2018 to common stockholders of record as of December 29, 2017, with an ex-dividend date of December 28, 2017.

16:08 EDT Univar announces resolution of Canadian tax dispute - Univar announced today that the Canada Revenue Agency did not file an appeal to challenge the Federal Court of Appeal's judgement issued on October 13 in Univar's favor. The Federal Court of Appeal dismissed a previously disclosed assessment of withholding taxes and interest related to restructuring activities from the 2007 acquisition of Univar by investment funds advised by CVC Capital Partners.

16:07 EDT CubeSmart increases quarterly dividend 11.1% - CubeSmart announced that its board declared a quarterly dividend of 30c per common share for the period ending December 31. The dividend is payable on January 16, 2018 to common shareholders of record on January 2, 2018. The quarterly distribution represents an annualized dividend rate of $1.20 per share, a 12c per share increase from the previous annual rate of $1.08 per share.

16:06 EDT Ameris Bancorp formally exits FDIC Consent Order - Ameris Bancorp announced that the Federal Deposit Insurance Corporation has terminated the Consent Order it issued to Ameris Bank on December 16, 2016, effective immediately. The FDIC's Consent Order was associated with certain deficiencies in Ameris Bank's Anti-Money Laundering and Bank Secrecy Act compliance program that arose out of regulatory examinations conducted in 2016.

16:04 EDT Oracle CEO Catz: Overall cloud revenue growth of 44% drove Q2 results - "Overall cloud revenue growth of 44% drove our quarterly revenue and earnings higher," said Oracle CEO, Safra Catz. "With non-GAAP Cloud SaaS Applications growth of 49% leading the way, Oracle delivered 14% non-GAAP earnings per share growth and 6% overall revenue growth. Our success in the quarter was based on the increasing scale and the gathering momentum in our cloud business. I expect the business to continue to grow and strengthen over the coming quarters." "Our Fusion ERP and Fusion HCM SaaS applications suite revenues grew 65% in the quarter," said Oracle CEO, Mark Hurd. "We are now the clear market leader in enterprise back-office SaaS applications with over 5,000 Fusion customers. And we expect to extend our lead by selling around $2 billion in new enterprise SaaS application cloud subscriptions over the coming four quarters. That's more new SaaS sales than any of our competitors." "Oracle will soon deliver the world's first autonomous "self-driving" database," said Oracle CTO, Larry Ellison. "The new artificially intelligent Oracle database is fully automated and requires no human labor for administration. If a security vulnerability is detected, the database immediately patches itself while running. No other system can do anything like this. Best of all, we guarantee the price of running the Oracle Autonomous Database in the Oracle Cloud is less than half the cost of running a database in the Amazon Cloud."

16:03 EDT Oracle reports Q2 cloud SaaS revenue up 55% to $1.1B - Cloud Software as a Service revenues were up 55% to $1.1B. Cloud Platform as a Service plus Infrastructure as a Service revenues were up 21% to $396M. Total Cloud Revenues were up 44% to $1.5B.

16:03 EDT Liquidity Services appoints Roger Gravley as new CIO - Liquidity Services is pleased to announce the appointment of Roger Gravley as Chief Information Officer for Liquidity Services, combining deep technical skills with extensive business knowledge to continue the Company's transformation through enhanced digital services. The new role expands Mr. Gravley's position on the Company's leadership team reporting to Bill Angrick, Chairman and CEO of Liquidity Services. Mr. Gravley will maintain his current responsibilities as President of GovDeals, our online marketplace for state and local government agencies. The appointment is effective immediately.

16:01 EDT Oracle reports Q2 short-term deferred revenues up 9% to $8.1B

15:41 EDT Chanos says he'd short almost all fast food stocks, except McDonald's - While being interviewed on CNBC, famed short-seller Jim Chanos said he is not short McDonald's (MCD), but that he is short a number of other fast food restaurant operators. He then discussed issues at a top franchisee of Restaurant Brands (QSR), the owner of Burger King and Tim Hortons. Chanos added: "I'd be short about any one else in the fast food industry besides McDonald's." Other companies that own or franchise fast food restaurant concepts include Wendys (WEN), Yum! Brands (YUM), Jack in the Box (JACK) and Sonic (SONC).

15:28 EDT Tesla 'already behind' on vehicle autonomy, Chanos says - Jim Chanos of Kynikos Associates is being interviewed on CNBC.

15:02 EDT Cigna announces acquisition of digital health plan platform Brighter - Cigna announced that it has acquired Brighter Inc., which works with health service and dental organizations to engage patients and providers in "personalized and seamlessly integrated experiences to more efficiently deliver higher-value healthcare." Cigna said: "The acquisition will build upon the already successful relationship between Cigna and Brighter by accelerating the development of Cigna's mobile and desktop platforms and creating new end-to-end experiences that connect health consumers and providers with the guidance, support, and incentives they need to increase quality of care and maximize cost-savings." Brighter will continue as a market-facing, client-focused organization serving the digital health needs of its current and prospective customers, as well as become the digital health engine for Cigna markets and segments.

14:35 EDT Snyder's & Lance trading resumes

14:25 EDT The Anschutz Foundation reports 8.67% passive stake in Regal Entertainment

13:40 EDT Google 'remains committed' to net neutrality, will work with other supporters - Google's statement on net neutrality was reported by Mark Bergen of Bloomberg. Reference Link

13:34 EDT EDF Renewable, Kimberly-Clark announce commercial operation at Rock Falls - EDF Renewable Energy announced that the 154 megawatt Rock Falls Wind Project has begun commercial operation. Kimberly-Clark Corporation signed an agreement earlier this year with EDF RE for 120 MW of generation which marks Kimberly-Clark's first utility scale use of renewable energy. Rock Falls Wind Project, located in Kay and Grant Counties in northern Oklahoma, consists of wind turbines and various components manufactured in the USA. The project has created more than 150 jobs since start of construction in July 2017 along with millions of dollars injected into the local economy.

13:13 EDT EP Energy reports deal with Carrizo Oil to buy certain properties in Eagle Ford - EP Energy Corporation (EPE) announced that it has entered a definitive agreement with Carrizo Oil & Gas (CRZO) to acquire certain producing properties and undeveloped acreage from existing Eagle Ford operating areas primarily in LaSalle County in South Texas. The company also announced it has entered into a definitive agreement with an undisclosed party to divest certain assets in the Altamont area of the Uinta Basin. The aggregate cash purchase price for the acquired properties is approximately $245M, while the divested properties will generate estimated proceeds of $180M. The company expects to close both transactions in Q1 2018, and both are subject to customary closing adjustments.

13:12 EDT FCC repeals net neutrality in 3-2 vote along party lines - This afternoon, after being delayed by a bomb threat, the Federal Communications Commission, or FCC, voted to dismantle so-called "net neutrality" rules. These rules regulated the Internet like a utility and prohibited internet service providers, or ISPs, from blocking or charging websites for higher quality delivery to consumers. The FCC said in a recent statement that FCC chairman Ajit Pai "has been focused on making the agency more transparent, closing the digital divide, and updating the Commission's rules to reflect the modern communications marketplace." But supporters of net neutrality argue that without it, ISPs will become the gatekeepers of the internet, controlling sites' access to the Internet. However, those opposed to net neutrality, which include the telecom industry, argue the existing regulations stifle broadband investments and innovation. SET TO BENEFIT: ISPs including AT&T (T), Charter Communications (CHTR), Comcast Corp. (CMCSA, CMCSK), and Verizon (VZ) will all benefit from this decision, a decision they have spent tens of millions of dollars lobbying toward. MAY HARM: Content providers, such as Netflix (NFLX), Google (GOOG, GOOGL), Amazon (AMZN), Facebook (FB), and Twitter (TWTR), have all lobbied in favor of net neutrality. Internet TV providers such as Dish Network's (DISH) Sling TV, Sony's (SNE) Playstation Vue, Google's YouTube TV, may be affected, as most ISPs are also cable providers that compete directly against Internet TV. Startups may also be negatively impacted, as they may find it harder to compete with the larger players without the open Internet rules. Note that Airbnb, Foursquare, Etsy (ETSY), and hundreds of other smaller companies released a statement on net neutrality last month, saying, "We, the undersigned businesses and trade associations, urge the FCC to maintain the current net neutrality rules and Title II classification of broadband internet. The current rules provide the protections necessary to protect net neutrality and ensure the internet remains a free and open marketplace that encourages innovation and supports robust competition." POTENTIAL COURT BATTLE: Even though net neutrality was repealed, the ruling may be challenged in court. A senior FCC official said in November, "Whenever we do anything big and major, people go to court. I certainly would not rule that out."

12:41 EDT Micropac approves special 10c per share dividend - The Board of Directors of Micropac Industries has approved the payment of a special common stock dividend of 10c per share payable to shareholders of record on January 10, 2018. It is anticipated that the payment date for such dividend will be on or about February 9, 2018.

12:17 EDT Unilever to acquire Schmidt's Naturals, terms not disclosed - Unilever announced an agreement to acquire Schmidt's Naturals, a personal care company based in Portland, Oregon. Founded in 2010 by Jaime Schmidt, Schmidt's Naturals started as a deodorant brand and has extended its offering to bar soap and toothpaste. Schmidt's natural deodorants include award-winning formulas derived from plants and minerals. Its most popular variants include Charcoal + Magnesium, Rose + Vanilla, Lavender + Sage, as well as fragrance-free offerings. Co-founders Jaime Schmidt and Michael Cammarata will continue to be involved with the brand. Terms of the transaction were not disclosed. Subject to any applicable governmental authorizations, the transaction is expected to close no later than 1Q18.

12:04 EDT Deckers Brands: Shareholders vote to re-elect all directors - Deckers Brands announced that, based on the preliminary vote count following its 2017 Annual Meeting of Stockholders, it appears that stockholders have voted to re-elect all of Deckers' directors - John M. Gibbons, Karyn O. Barsa, Nelson C. Chan, Michael F. Devine III, John G. Perenchio, David Powers, James E. Quinn, Lauri M. Shanahan and Bonita C. Stewart - to the Deckers Board. Deckers issued the following statement: "We are very pleased with the outcome of today's vote. On behalf of the entire Deckers Board and management team, we sincerely thank our stockholders for their valuable insight and support throughout this process. Today's outcome reaffirms that we are on the right track. We remain focused on continuing our strategic transformation as we optimize our retail strategy, improve operating profits, refresh our Board and return capital to stockholders." Deckers expects to file the preliminary voting results, as tabulated by the independent Inspector of Elections, on a Form 8-K with the SEC within four business days.

11:34 EDT Sanderson Farms sees boneless breast prices rising after Christmas - Says outlook for wing prices "uncertain."

11:27 EDT New York Times names A.G. Sulzberger as publisher, effective January 1 - The New York Times Company announced that Arthur O. Sulzberger, Jr. will retire as publisher on December 31, 2017. He will continue to serve as chairman of the Company's board of directors, a position he has held since 1997. Sulzberger, Jr. has been The Times's publisher since 1992. Deputy Publisher A.G. Sulzberger will become publisher of The New York Times on January 1, 2018. A.G. Sulzberger's appointment was approved by the company's board of directors on December 14, 2017. He was also elected to the board and will fill the seat being vacated by Michael Golden, who is stepping down on December 31, 2017.

11:26 EDT New York Times publisher Arthur O. Sulzberger, Jr. to retire at year's end

11:19 EDT Battleground: JPMorgan says sell, Citi says buy Tenet - Shares of Tenet Healthcare (THC) are sliding after JPMorgan analyst Gary Taylor downgraded the stock to Underweight, a sell-equivalent rating, citing his expectations for a negative impact from tax reform, its high relative balance sheet leverage and structural challenges for the hospital sector. This comes a day after his peer at Citi upgraded Tenet to Buy on a more constructive view of the industry and expectation of some "bounce" in patient volumes. SELL TENET: In a research note to investors this morning, JPMorgan's Taylor downgraded Tenet Healthcare to Underweight from Neutral, with an unchanged price target of $15. The analyst argued that he expects the company to underperform his coverage universe in 2018 due to key factors such as a negative impact from corporate tax reform, high relative leverage, structural challenges for the hospital sector and Tenet's long-term track record of poor free cash flow generation. The interest expense deduction limits in both the House and Senate bills would more than offset the decline in corporate tax rate for Tenet, he contended. BUY TENET: Yesterday, Citi analyst Ralph Giacobbe upgraded Tenet, alongside HCA Healthcare (HCA) and Universal Health (UNH), to Buy as he takes a more constructive view of the hospital space and expects some "bounce" in patient volume in 2018. While acknowledging the existence of structural pressures, he argued that a better volume backdrop in 2018 coupled with lower buyside expectations, depressed sentiment, discounted valuation, and favorable "external" factors - like tax reform and a lower Amazon (AMZN) risk than other sectors - sets up an attractive upside scenario. Further, the analyst told investors he is hopeful Tenet's divestiture plans and cost savings initiative are additional levers that should support and help improve its EBITDA. PRICE ACTION: In late morning, shares of Tenet have dropped over 3% to $14.31.

11:04 EDT Time Inc., Qello Global partner to distribute video content in Asia - Qello Global announced a deal with Time Inc. to distribute video content from their portfolio of brands throughout Asia. Qello will distribute and monetize video content from Time Inc. brands through its existing network of broadcasters, telecommunications companies, newspapers and online publishers. People, Sports Illustrated, InStyle, Time, Fortune, Money, Travel + Leisure, Health and Food & Wine, among others, will be widely available throughout India, Korea, Japan, Taiwan, Hong Kong, Malaysia, Singapore, Indonesia, Thailand, the Philippines, Vietnam, Pakistan, and other territories throughout Asia. With this partnership, Time Inc. will be able to access an international audience through Qello's ad-supported distributor network, which garnered 2.7N video views from the APAC market in 2016.

10:24 EDT Tiffany seen as possible target for big European luxury player - Shares of Tiffany (TIF) are on the rise after Citi analyst Paul Lejuez upgraded the stock to Buy, citing currency tailwinds, tax reform and the increasing probability the jewelry retailer becomes a takeover target of an European luxury conglomerate. BUY TIFFANY: In a research note to investors, Citi's Lejuez upgraded Tiffany to Buy from Neutral and raised his price target on the shares to $115 from $92. The third quarter brought several positive inflection points, he contended, noting that it was the first quarter in several years that the company saw strength in both the fashion category and the high/fine/solitaire category at the same time. Further, Lejuez argued that the shares look attractive as currency tailwinds and tax reform should benefit the company's earnings. The analyst also told investors that he sees increasing probability that the jewelry retailer will become a target of an European luxury conglomerate, making Tiffany's risk/reward that much more favorable. Management seems to understand the challenges and opportunities and they are not sitting still, he pointed out, making the analyst more optimistic that the changes he has seen thus far have Tiffany on a better path for success. WHAT'S NOTABLE: Earlier in the month, KeyBanc analyst Edward Yruma also upgraded Tiffany to Overweight from Sector Weight, with a $115 price target, saying he believes the positive 1% Americas comparable sales growth in the third quarter points to the early stages of a more broad-based sales recovery. Recent strength in silver jewelry is now being augmented by early signs of improvement in higher-end jewelry, Yruma argued, adding that he views Tiffany as a "strong brand." PRICE ACTION: In morning trading, shares of Tiffany have gained over 3% to $99.27.

10:21 EDT Kroger added to Best Ideas List at Hedgeye

10:04 EDT Pandora to offer ad-supported listeners access to on-demand listening - Pandora announced it will now offer ad-supported listeners access to on-demand listening experiences after viewing a 15-second video ad. "Our ad-supported listeners' top request has consistently been the ability to directly play the specific songs, albums, or playlists they want. These new features address that need by marrying rewards-based advertising with the best-in-class on-demand experience we've created with Pandora Premium. This unrivaled experience will drive listeners to Pandora and drive awareness for Premium, while also creating new opportunities for artists, labels, publishers and advertisers," said Roger Lynch, President & CEO, Pandora.

10:01 EDT Gogo higher after Delta buys 100 planes with 2Ku Wi-Fi - Shares of Gogo (GOGO) are higher after Delta Air Lines (DAL) and Airbus (EADSY) agreed to terms for a 100 firm and 100 option order for Airbus 321neo aircraft with deliveries beginning in 2020. The new jets are equipped with Gogo's satellite-based 2Ku in-flight Wi-Fi, as mentioned in this morning's press release. Shares of Gogo are up 3%, or 31c, to $10.70 in early trading.

09:53 EDT Sabby reports 9.15% passive stake in VistaGen Therapeutics

09:52 EDT Genomic Health jumps 12% to $31.33 after Bloomberg report on takeover interest

09:42 EDT One Horizon Group executes term sheet to acquire majority interest in 123Wish - One Horizon Group (OHGI) announced that it has entered into a term sheet that includes the main provisions of the definitive agreements to acquire a majority interest in ONCE IN A LIFETIME LLC, d/b/a 123Wish. 123Wish in the Apple (AAPL) App Store and available next month on Google (GOOG, GOOGL) Play and www.123wish.com is a subscription-based, social-media platform that provides users with unique opportunities to enjoy personalized, dream experiences with some of the world's most renowned influencers, celebrities, professional athletes, fashion designers, and artists while supporting a diverse range of charities. "While the agreement is subject to customary conditions including completion of due diligence and approvals, we expect to close in the first quarter of 2018 and we are confident the acquisition will be accretive in 2018," said One Horizon Group's Founder and CEO, Mark White. "We are excited to be working with the 123Wish team and we are certain that this transaction will deliver significant value to OHGI shareholders."

09:24 EDT On The Fly: Pre-market Movers - HIGHER: Teva Pharmaceutical (TEVA), up 16.9% after announcing it will cut its workforce by 25% and suspend its dividend... Delta Air Lines (DAL), up 2.1% after announcing a firm order for 100 A321neo aircraft from Airbus (EADSY)... Express Scripts (ESRX), up 2.3% after raising fiscal 2017 guidance... TrovaGene (TROV), up 8.6% after filing protocol for Phase 2 clinical trial of PCM-075. LOWER: Disney (DIS) and Twenty-First Century Fox (FOX, FOXA) are down marginally after the companies announced that Disney will acquire 21st Century Fox after the spinoff of certain units for $52.4B... Sanderson Farms (SAFM), down 4.7% after reporting quarterly results.

09:19 EDT Ohio Court of Claims selects Tyler Technologies' Modria software - Tyler Technologies announced that it has signed an agreement with the Ohio Court of Claims for Tyler's Modria online dispute resolution solution. Modria will soon be integrated with Tyler's existing solutions used by the Ohio Court of Claims, including Odyssey Case Manager and Odyssey File & Serve.

09:17 EDT Tupperware Brands sells Beauticontrol assets to Youngevity International - Tupperware Brands (TUP) and Youngevity International (YGYI) have reached an agreement whereby Tupperware Brands will sell Beauticontrol assets to Youngevity. As part of the deal, Youngevity will integrate Beauticontrol's sales force into its company, marketing Beauticontrol branded products, as well as the other brands in Youngevity's extensive product portfolio. Tupperware will earn a royalty based on future sales of the Beauticontrol sales force, and sales of the Beauticontrol product line by the existing Youngevity members.

09:10 EDT Trilogy Metals partner South32 to fund $10M 2018 program for Bornite Project - Trilogy Metals announced that South32 Limited has committed to fund the $10M 2018 program and budget for the Bornite Project. The funds, which represent the second tranche of $10M, maintains the Option Agreement in good standing, and will be transferred before January 31, 2018. The 2018 program will include in-fill and off-set drilling to better define and expand the high grade copper resources at Bornite. The 2018 Program was recently approved by the joint Trilogy-South32 Technical Committee. Trilogy Metals recently completed the first $10M exploration drill program at Bornite that was funded by South32. The 2017 drilling program doubled the size of the known mineralized footprint. Trilogy had entered into an agreement with South32 whereby Trilogy has granted South32 an option to form a 50/50 joint venture with respect to Trilogy's Alaskan assets. South32 must contribute a minimum of $10M each year, for a maximum of 3 years, to keep the option in good standing. South32 may exercise its option at any time to form the 50/50 joint venture. To subscribe for 50% of the JV, South32 will contribute a minimum of $150M, plus any amounts Trilogy spends at the Arctic Project over the initial three years to a maximum of $5M per year.

09:04 EDT Cellectar Biosciences files IND for Phase 1 trial of CLR 131 - Cellectar Biosciences announces that the company has filed an Investigational New Drug, or IND, application with the Division of Oncology at the FDA for a proposed Phase 1 study of CLR 131 in children and adolescents with select rare and orphan designated cancers. The proposed Phase 1 clinical trial of CLR 131 is an open-label, sequential-group, dose-escalation study to evaluate the safety and tolerability of a single intravenous administration of CLR 131 in up to 30 children and adolescents with cancers including neuroblastoma, sarcomas, lymphomas and malignant brain tumors. Secondary objectives of the study are to identify the recommended Phase 2 dose of CLR 131 and to determine preliminary antitumor activity of CLR 131 in children and adolescents. The study will be initiated with the pediatric oncologists and Nuclear Medicine/Radiology Group at The University of Wisconsin Carbone Cancer Center.

09:01 EDT Funds managed by Apollo affiliates to acquire Sun Country Airlines - Funds affiliated with Apollo Global Management, announced that they have signed a definitive agreement to acquire Sun Country Airlines, a privately-held fully independent airline in the United States, from brothers Marty and Mitch Davis. The transaction, which is subject to regulatory approvals and other customary conditions, is targeted to close during the first quarter of 2018. Terms of the deal were not disclosed. Barclays served as financial adviser to Sun Country Airlines on this transaction.

08:56 EDT Delta sees Q4 operating margin about 11%, says producing strong revenue trends - In a regulatory filing, Delta forecast December quarter operating margin of about 11%, as strong unit revenue performance was offset by higher fuel prices during the quarter. Says December quarter producing strong revenue trends with positive unit revenues in all geographic entities and unit revenue guidance is tracking to high end of initial guidance. Says expects non-fuel unit costs including profit sharing to be up 5%-5.5%. December quarter capacity is now expected to be up 2.5%-3%.

08:49 EDT EOG Resources names Lloyd W. "Billy" Helms, Jr. as COO - EOG Resources announced that Lloyd W. "Billy" Helms, Jr. has been promoted to COO and Ezra Yacob has been promoted to Executive Vice President, Exploration and Production, effective December 13, 2017. Ezra will be responsible for EOG's Midland, San Antonio and Artesia operating areas. Gary Thomas, most recently President and COO, will continue serving as President of EOG to allow for the gradual transition of his responsibilities prior to his retirement. He is expected to retire by year-end 2018. Gary has been an EOG employee for 39 years, having joined a predecessor company in 1978 as a drilling and production engineer. Since 1998, he has held responsibility for managing EOG's overall drilling, completions, production and engineering activities.

08:45 EDT Pratt & Whitney GTF engine to power Delta Air Lines' order of A321neo aircraft - Pratt & Whitney, a division of United Technologies (UTX), Delta Air Lines (DAL) and Airbus Group (EADSY) announced the selection of Pratt & Whitney's Geared Turbofan engine to power Delta's order of A321neo aircraft. The order consists of 100 firm aircraft, and includes a 20-year EngineWise services agreement. Aircraft deliveries are expected to begin in the first quarter of 2020.

08:36 EDT Disney CEO Iger says will discuss possible role with James Murdoch

08:33 EDT Verizon closes sale of Chicago fiber network to Verizon - WOW! (WOW) also announced that it has closed the previously announced sale of a portion of its fiber network in the Company's Chicago market to a subsidiary of Verizon (VZ) for $225M in cash. Proceeds from the sale are expected to be used to pay down existing debt obligations related to the company's revolving credit agreement and to reinvest in the company's business. In addition, WOW! and Verizon entered into a new construction agreement pursuant to which WOW! will complete the build-out of the network in exchange for approximately $50M, payable as the remaining network elements are completed. The final build-out of the network is expected to be completed during the second half of 2018.

08:32 EDT WideOpenWest appoints Teresa Elder CEO - WideOpenWest announced that Teresa Elder has joined the company as CEO and a member of the Board of Directors of WOW!. Elder succeeds Steven Cochran, who is retiring from WOW! after 15 years with the company. Cochran will stay on in an advisory role with WOW! through June 30, 2018, ensuring a seamless transition of leadership. Elder brings to WOW! more than 20 years of executive leadership at some of the leading telecommunications and cable companies in the world. She served as a founding president of Clearwire Wholesale.

08:31 EDT Apple releases iMac Pro, delivering real-time 4K and 8K video editing - Apple released iMac Pro, "an entirely new product line designed for pro users who love the all-in-one design of iMac and require workstation-class performance. With Xeon processors up to 18 cores, up to 22 Teraflops of graphics performance, and a brilliant 27-inch Retina(R) 5K display, iMac Pro is the fastest, most powerful Mac ever made. iMac Pro delivers incredible compute power for real-time 3D rendering, immersive VR, intensive developer workflows, high megapixel photography, complex simulations, massive audio projects and real-time 4K and 8K video editing. With next-generation processors, a stunning Retina 5K display, the most powerful graphics ever in a Mac, super-fast storage and advanced I/O, iMac Pro is designed to handle the most demanding pro workflows and is the first all-in-one built from the ground up to deliver true workstation-class performance. Featuring an all-new thermal architecture, iMac Pro delivers up to 80 percent more cooling capacity in the same amazingly quiet, thin and seamless aluminum and glass enclosure customers know and love. iMac Pro is available on December 14, starting at an Apple retail price of $4,999."

08:29 EDT Disney: 21st Century Fox synergies to be fully realized by 2021 - Expects synergies to begin in year one and be fully realized by 2021.

08:26 EDT Teva CEO Schultz sees downward pressure on top line - Says no political risk in Israel to restructuring plan.

08:19 EDT Teva says plans to pay down bank debt in relatively short number of years

08:16 EDT Tocagen added to Nasdaq Biotechnology Index - Tocagen (TOCA) has been selected for addition to the NASDAQ Biotechnology Index (NBI), which will become effective on Monday, December 18. The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on The Nasdaq Stock Market that are classified as either biotechnology or pharmaceutical.

08:13 EDT Teva CEO Schultz says company does not plan to raise equity - Says annual bonus for 2017 will not be paid out to the company not achieving its pre-set financial goals for the year. Says immediately suspending dividends on ordinary shares, ADRs

08:11 EDT Teva says will discontinue products that to not meet new profitability benchmark - Says will adjust pricing of certain portfolio segments to better reflect current cost structure and market conditions.

08:09 EDT Criteo revises impact of new Apple system on revenue ex-TAC to (22%) - Criteo (CRTO) updated its Q4 outlook and the expected impact of Apple's (AAPL) Intelligent Tracking Prevention on Criteo's projected 2018 Revenue excluding Traffic Acquisition Costs. Apple launched a new version of its mobile operating system, iOS 11.2, which disables the solution that some companies in the advertising ecosystem, including Criteo, currently use to reach Safari users. As a result, the company believes the projected 9%-13% ITP net negative impact on Criteo's 2018 Revenue ex-TAC relative to its pre-ITP base case projections is no longer valid. The company is focused on developing an alternative sustainable solution for the long term, still under development. Should it not mitigate any ITP impact, the company believes the ITP net negative impact on Criteo's 2018 Revenue ex-TAC would become approximately 22%. The company will provide formal FY18 guidance on Revenue ex-TAC and Adjusted EBITDA in mid-February 2018.

08:08 EDT Teva CEO says doing 'thorough' review of all R&D programs across entire company

08:06 EDT Teva CEO sees reduced sales of Copaxone over the coming quarters - Teva President and CEO Kare Schultz, on a conference call discussing the company's restructuring plan, said Teva has four main challenges: Significant debt; generic competition to Copaxone; challenging environment in the U.S., its largest generic market; and fewer than expected generic product launches in the U.S. He sees reduced sales of Copaxone over the coming quarters. Schultz believes Teva can be turned around in the short to medium term and said the company will continue to divest non-core assets. Schultz said the majority of the workforce reduction will happen in 2018. Teva is up 16.4% in premarket trading.

08:06 EDT Two River Bancorp approves new $2M share repurchase program - Two River Bancorp announced that its Board of Directors has approved a new Share Repurchase Program. Under this new program, the Company may repurchase up to $2.0 million of its common stock from January 1, 2018 to December 31, 2018.

08:04 EDT Delta announces firm order for 100 A321neo from Airbus - Delta Air Lines (DAL) and Airbus (EADSY) announced that the companies have agreed to terms for a 100 firm and 100 option order for Airbus 321neo, or new engine option, aircraft with deliveries beginning in 2020. The new jets will be powered by Pratt & Whitney (UTX) geared-turbofan engines. Delta will configure the A321neo to a total of 197 seats including seating for 20 in First Class, 30 in Delta Comfort+ and 147 in the main cabin. On-demand inflight entertainment, fast satellite-based 2Ku in-flight Wi-Fi, power ports as well as streaming video content will be available at every seat. Delta expects to take delivery of its first A321neo in the first quarter of 2020 with new aircraft arriving through 2023.

08:04 EDT Sears' DieHard brand to launch on Amazon.com for 50th anniversary - Sears' (SHLD) DieHard brand is celebrating 50 years with the launch of DieHard products on Amazon.com (AMZN). An assortment of DieHard jump starters, battery chargers and maintainers are available for purchase at www.amazon.com/diehard. Passenger car tires and automotive batteries will be added to Amazon.com in early 2018.

08:02 EDT Delta announces firm order for 100 A321neo from Airbus

07:47 EDT Corbus Pharmaceuticals initiates RESOLVE-1 Phase 3 study - Corbus Pharmaceuticals announced that it has initiated the Company's Phase 3 study, RESOLVE-1, to test the efficacy and safety of anabasum in the treatment of diffuse cutaneous systemic sclerosis. Systemic sclerosis is a serious autoimmune disease affecting approximately 90,000 people in the United States and Europe and is associated with significant morbidity and up to 60% 10-year mortality. There are currently no drugs specifically approved by the FDA for treatment of systemic sclerosis.

07:39 EDT Bellatrix Exploration sees 2018 production 35K-37K Boe/d - Bellatrix Exploration announced a Q4 operational update, including completion of its 2017 capital program with production volumes exceeding guidance, and reconfirmation of its bank credit facility borrowing base. Bellatrix has approved a 2018 capital budget of $65M-$80M. Bellatrix completed its drilling program in mid-November with 2 gross Spirit River liquids rich natural gas wells spud in Q4. Based on field estimates current production is approximately 36,600 boe/d, 2% ahead of the company's previously announced exit rate guidance. Q4 production volumes are expected to average approximately 36,500 boe/d, contributing to anticipated full year 2017 average production of approximately 36,750 boe/d. The borrowing base has been reconfirmed at $120M, comprised of a $25M operating facility and a $95M syndicated facility. The next semi-annual redetermination is scheduled for May 2018. Other than approximately $50M outstanding under the Credit Facilities as at November 30, the company has no debt maturities until 2020, providing the company with approximately $70M of available liquidity The 2018 capital budget of $65M-$80M incorporates forward pricing expectations of approximately US$56.50/bbl WTI and $1.70/GJ AECO, underpinned by strong commodity price risk management protection.

07:39 EDT Express Scripts sees savings of nearly $1.2B by 2021 from value initiative - Express Scripts said the company's enterprise value initiative is currently estimated to cost approximately $600M-$650M and to deliver cumulative savings of nearly $1.2B by 2021. The company's 2018 full-year guidance includes an estimated contribution of $65M-$75M in expense savings affecting the Core and consolidated businesses. This initiative is expected to help the company achieve its targeted compounded annual EBITDA growth rate for the Core business from 2017-2020 of 2%-4% and in 2018 will begin to drive significant value to all of its patients and clients. The company is providing the 2018 full-year guidance for the Core business and the consolidated business, which includes the pending acquisition of eviCore healthcare and assumes the completion of the company's sale of its United BioSource subsidiary. The eviCore acquisition and the sale of United BioSource are expected to be completed in December 2017. Express Scripts estimates that the eviCore acquisition will generate EBITDA of $265M-$285M in 2018.

07:33 EDT Mylan:U.S. PTAB issues IPR proceedings on claims against Sanofi Lantus patents - Mylan (MYL) announced that the U.S. Patent and Trademark Appeal Board has instituted inter partes review proceedings on all claims against two Orange Book-listed patents, U.S. Patent Nos. 7,476,652 and 7,713,930, owned by Sanofi (SNY) for Lantus 100 Units/mL. Mylan's 505(b) New Drug Application for Insulin Glargine in vial and pen dosage forms is under active review with the U.S. FDA. Lantus and Lantus Solostar are prescription medicines indicated for improving glycemic control in adult patients with diabetes mellitus.

07:32 EDT CGI Group awarded seven year IT outsourcing contract by Glasgow City Council - CGI Group has been selected by Glasgow City Council to provide IT services to enable the introduction of integrated digital services for the Glasgow area across a range of council services and delivering new high speed broadband for schools and the local community. This is CGI's third major digital transformation contract in UK Local Government in recent years. CGI employs over 100 people in their Open Digital Service Centre in Glasgow at the Inovo building.

07:15 EDT New 'Fox' to include Fox News, Fox Sports, Fox Business, Fox Broadcasting - Twenty-First Century Fox (FOX, FOXA) announced that it intends to spin off to 21st Century Fox shareholders a portfolio of its highly-rated news, sports and broadcast businesses to create a new "Fox," which will be a growth company centered on live news and sports brands, anchored by the strength of the Fox Network. The new "Fox" will include iconic branded properties Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network. It will also include the company's studio lot in Los Angeles and equity investment in Roku (ROKU). In addition to the spin-off, 21st Century Fox separately announced that the company has entered into a definitive agreement to combine the rest of its businesses with Disney (DIS), including the company's film and television studios, cable entertainment networks and international TV businesses. New Fox's assets will include: Fox News Channel, Fox Broadcasting Company, Fox Business Network, FOX Television Stations Group, FS1 and FS2, Big Ten Network. Using Fiscal 2017 as a base, Fox is expected to have annual revenue of approximately $10B and EBITDA of approximately $2.8B. The company will have an investment grade balance sheet conservatively levered with a maximum of $9B of new gross debt or under 3x net leverage on day one. Following the spin-off, Fox expects to continue to pay shareholders a strong regular dividend, with the initial rate to be determined prior to the completion of the spin-off. The spin-off transaction will be taxable to 21st Century Fox, but not to its shareholders. The new Fox will receive a step-up in its tax basis commensurate with the amount of the corporate tax relating to the spin-off that will generate annual cash tax savings over the next 15 years. Prior to completion of the spin-off, new Fox will pay an $8.5 billion cash dividend to 21st Century Fox, representing an estimate of such tax liability. If the final tax liability of 21st Century Fox is less than such amount, the first $2B of that adjustment will be made by a net reduction in the amount of the cash dividend to 21st Century Fox from new Fox. The amount of such tax liabilities will depend on several factors, including tax rates in effect at the time of closing as well as market values of Fox following the closing. Upon closing of the spin-off transaction, 21st Century Fox's shareholders would receive one share of common stock in new Fox for each same class 21st Century Fox share currently held. Following the separation, new Fox would maintain two classes of common stock: Class A Common and Class B Common Voting Shares. As part of the definitive agreement with Disney announced today, 21st Century Fox shareholders will receive 0.2745 Disney shares for each 21st Century Fox share in the merger. The per share consideration is subject to adjustment up or down for certain tax liabilities arising from the spinoff and other transactions related to the acquisition. Terms of the transaction call for Disney to issue approximately 515 million new shares to 21st Century Fox shareholders, representing approximately a 25 percent stake in Disney on a pro forma basis. The transaction values the merged 21st Century Fox business at $28 per share using a reference Disney share price of $102 and at nearly $30 per share based on Disney's closing share price on December 13, 2017. This equates to a total enterprise value of approximately $69B. The merger is subject to customary conditions, including regulatory and shareholder approval.

07:12 EDT Teva CEO: Plan intended to reduce cost base by $3B by end of 2019 - In a letter to employees, Teva president and CEO Kare Schultz said: "Two weeks ago I announced the new organizational structure and Executive Management. This was the first step in a substantial restructuring plan, which is crucial to restoring our financial security and stabilizing our business. We are immediately starting the consolidation and streamlining of our supporting infrastructure, manufacturing, R&D and commercial operations. Some of the former global units will be integrated into the new structure, while others will be made redundant. We will substantially optimize our generics portfolio globally, and most specifically in the U.S. through price adjustments and/or product discontinuation.This will enable us to accelerate the restructuring of our manufacturing and supply network, including the closures or divestments of a significant number of manufacturing plants in the United States, Europe, Israel and Growth Markets. All decisions will be business driven and based on network rationalization, as such, the ultimate numbers will vary between countries and regions. We plan to close or divest a significant number of R&D facilities, headquarters and office locations across all geographies. We are also conducting a thorough review of all R&D generics and specialty programs across the entire company to prioritize core projects and cancel others immediately, while maintaining a substantial pipeline. The company will immediately suspend dividends on its ordinary shares and ADSs, while dividends on mandatory convertible preferred shares will be evaluated on a quarterly basis as per current practice. The company will continue to review the potential for the divestment of additional noncore assets. Teva's annual bonus for 2017 will not be paid due to the fact that the company's financial results are significantly below our original guidance for the year. Sales commissions will be paid in accordance with existing plans. We intend to provide certain annual salary increases based on performance, reflecting Teva's commitment to maintain its competitive position in the market. The two year restructuring plan is intended to reduce Teva's total cost base by $3 billion by the end of 2019, out of an estimated cost base for 2017 of $16.1 billion. More than half of the reduction is expected to be achieved by the end of 2018.Every step we take is key to ensuring Teva's stabilization, as we manage our debt and focus our business to become a much more agile, lean and profitable organization.We will do so while ensuring that we protect our revenues and preserve our core capabilities in generics and in selected specialty assets, in order to secure long-term growth. In 2018, we expect to secure the successful launches of AUSTEDO and fremanezumab. Making workforce reductions of this magnitude is difficult, and we do not take them lightly. We will be respectful and transparent throughout these processes and offer severance to impacted employees in accordance with applicable local requirements, as well as outplacement services."

07:10 EDT Bombardier wins rolling stock, maintenance contracts for c2c franchise in UK - Bombardier Transportation has signed a contract with Porterbrook and c2c, to supply 60 new BOMBARDIER AVENTRA vehicles for use on the United Kingdom's c2c rail franchise, together with an eight-year maintenance and support services contract. The overall value of the rolling stock and maintenance contracts are valued at approximately $140M. The maintenance contract will run from the introduction of the trains until November 2029.

07:08 EDT Teva CEO says restructuring decisions not taken lightly - Kare Schultz, Teva's President and CEO, said, "Two weeks ago we announced a new organizational structure and executive management team. Today we are launching a comprehensive restructuring plan, crucial to restoring our financial security and stabilizing our business...These are decisions I don't take lightly but they are necessary to secure Teva's future. We will implement these changes with fairness and the utmost respect for our colleagues worldwide. Today's announcement is about positioning Teva for a sustainable future which we will achieve with our talented people. We will ensure that we continue to provide high quality medicines to the many patients we serve every day, while adhering to the highest standards of GMP compliance."

07:06 EDT Scholastic CEO says 'on track to achieve our fiscal year 2018 goals' - "The second quarter's solid results, with operating profit close to last year's level, confirm that we are on track to achieve our fiscal year 2018 goals when revenues and profits were expected to be lower after last year's best-selling new Harry Potter releases. Based on these results, we are affirming guidance for the year." said Richard Robinson, Chairman, President and CEO. "Our strategic technology transformation, a core component of our Scholastic 2020 plan, is beginning to deliver increasing value to our business units. Scholastic 2020 is a three-year program to increase operating profitability by 2020 through improved marketing efficiency and simplified business processes leading to lower operating costs.Enhanced digital marketing capabilities in clubs and our fairs segmentation strategy both helped to increase profitability in the school-based channels during the quarter. We are expanding our CRM investments with the goal of providing sales teams in the field with substantially improved customer information, ultimately contributing to higher revenue per fair in our book fairs business, as well as better pipeline information and increased market share in the education business. These new systems should lead to a significant increase in sales and profitability in fiscal year 2019 and beyond. A major ERP upgrade in finance will also take effect next spring."

07:05 EDT 21st Century Fox to seek to complete planned acquisition of 61% of Sky - Prior to the close of the transaction, it is anticipated that 21st Century Fox (FOX, FOXA) will seek to complete its planned acquisition of the 61% of Sky (SKYAY) it doesn't already own. 21st Century Fox remains fully committed to completing the current Sky offer and anticipates that, subject to the necessary regulatory consents, the transaction will close by June 30, 2018. Assuming 21st Century Fox completes its acquisition of Sky prior to closing of the transaction, The Walt Disney Company (DIS) would assume full ownership of Sky, including the assumption of its outstanding debt, upon closing.

07:04 EDT Teva says cost base to be reduced by $3B by end 2019 via restructuring

07:03 EDT Humana announces $3B share repurchase authorization - Humana announced that its Board of Directors has approved a $3B share repurchase authorization with an expiration date of December 31, 2020, replacing its previous $2.25B share repurchase authorization, which has no further capacity. The company may repurchase shares from time to time at prevailing prices in the open market, by block purchases or in privately-negotiated transactions.

07:02 EDT Iger to continue as chairman and CEO of Disney through end of CY21 - At the request of both 21st Century Fox (FOX, FOXA) and the Disney (DIS) Board of Directors, Iger has agreed to continue as Chairman and Chief Executive Officer of The Walt Disney Company through the end of calendar year 2021. "When considering this strategic acquisition, it was important to the Board that Bob remain as Chairman and CEO through 2021 to provide the vision and proven leadership required to successfully complete and integrate such a massive, complex undertaking," said Orin C. Smith, Lead Independent Director of the Disney Board. "We share the belief of our counterparts at 21st Century Fox that extending his tenure is in the best interests of our company and our shareholders, and will be critical to Disney's ability to effectively drive long-term value from this extraordinary acquisition." Combining with Disney are 21st Century Fox's critically acclaimed film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, which together offer diverse and compelling storytelling businesses and are the homes of Avatar, X-Men, Fantastic Four and Deadpool, as well as The Grand Budapest Hotel, Hidden Figures, Gone Girl, The Shape of Water and The Martian-and its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which have brought The Americans, This Is Us, Modern Family, The Simpsons and so many more hit TV series to viewers across the globe. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox's interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.

07:01 EDT Disney to acquire 21st Century Fox after spinoff of certain units for $52.4B - The Walt Disney Company (DIS) and Twenty-First Century Fox, Inc. (FOXA, FOX) announced that they have entered into a definitive agreement for Disney to acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4B in stock. Building on Disney's commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience to consumers wherever and however they choose. Immediately prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders. Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold. The exchange ratio was set based on a 30-day volume weighted average price of Disney stock. Disney will also assume approximately $13.7B of net debt of 21st Century Fox. The acquisition price implies a total equity value of approximately $52.4B and a total transaction value of approximately $66.1B which includes consolidated assets along with a number of equity investments.

06:57 EDT Ryder authorizes program to repurchase up to 1.5 million shares - Ryder has authorized a new share repurchase program to mitigate the dilutive impact of shares issued under the company's employee stock plans. The new program replaces Ryder's previous anti-dilutive program, which expired in December 2017. Under the new anti-dilutive program, Ryder management is authorized to repurchase up to 1.5 million shares of common stock issued to employees under the company's employee stock plans from December 1, 2017 through December 13, 2019. In addition, management has been granted the authority to establish a trading plan. As of September 30, 2017, the Company had 52.9 million shares of common stock outstanding.

06:47 EDT Corindus installs first CorPath GRX system outside of U.S. - Corindus announced the first commercial installation of a CorPath GRX System outside of the U.S. The system was purchased by the Apex Heart Institute in Ahmedabad, India, a cardiology center. Corindus will partner with Apex Heart Institute to develop a Global Center of Excellence to train interventional cardiologists on robotic-assisted percutaneous coronary interventions.

06:35 EDT Cleantech Solutions announces shareholder approval of name change - Cleantech Solutions announced that the company's shareholders approved the change of the company's name to Sharing Economy International Inc. In connection with the name change, the company has applied for a new ticker symbol "SEII" for its common stock. The company's shares will continue to trade on the NASDAQ Capital Market under the symbol "CLNT" until approval of the new symbol is received.

06:33 EDT Horizon Global to acquire Brink Group from H2 Equity Partners for EUR169M - Horizon Global has entered into a definitive agreement to acquire the Brink Group from H2 Equity Partners. The Brink Group is a manufacturer of towbars, wiring kits and towing accessories. Headquartered in the Netherlands and with more than 75 years of towbar expertise, the Brink Group works with original equipment manufacturers and original equipment suppliers on various programs and also serves the aftermarket channel of the towing and trailering industry, with annual revenue of approximately $150M. The acquisition is expected to be accretive to earnings during its first full year. The purchase price of EUR169M will be financed through new long-term debt and cash on hand. The combined company will have approximately 5,300 employees, operating 67 facilities in 21 countries. The parties expect to complete the transaction by the end of 2Q18, subject to the satisfaction of customary closing conditions.

06:14 EDT General Motors says former UAW VP Joe Ashton to resign from board - In a regulatory filing, General Motors announced that Joe Ashton has elected to resign from GM's Board of Directors. Ashton joined GM's board in August 2014, and was designated to the board by the VEBA Trust. Prior to joining the GM board, Ashton was a member of the UAW International staff from 1986 to 2014. He was also active in labor and civic affairs during his career, including previously serving as Executive Vice President of the Pennsylvania AFL-CIO Executive Council and Executive Vice President of the New Jersey AFL-CIO.

06:12 EDT Glaxo submits application for single-dose tafenoquine to Australia's TGA - GSK and Medicines for Malaria Venture announced the submission of a regulatory application by GSK to the Australian Therapeutics Good Administration seeking approval of single-dose tafenoquine treatment for the radical cure of Plasmodium vivax malaria. Approval of tafenoquine by the TGA, who will act as the reference regulatory authority, will help facilitate registrations in countries where malaria is endemic. If approved, tafenoquine would be the first new medicine for the prevention of relapse of P. vivax malaria in more than 60 years, potentially addressing the need for a single-dose and effective medicine for this debilitating disease. The TGA submission includes phase III data from the previously reported GATHER and DETECTIVE studies conducted by GSK in partnership with MMV. It follows the announcement of a submission to the US Food and Drug Administration in November 2017. Should it be approved for use, GSK and MMV are committed to making tafenoquine available at a not-for-profit price in malaria-endemic countries to enable wide patient access to those who need it most. Tafenoquine is not approved for use anywhere in the world. GSK plans to progress regulatory filings in other countries in 2018.

06:09 EDT Cenovus Energy plans additional workforce reduction of about 15% in 2018 - Cenovus has significantly reduced its cost structure since the downturn in oil prices began more than three years ago and remains focused on driving costs even lower across its operations. In 2018, the company expects to reduce its per-barrel oil sands operating costs by 8% and per-barrel oil sands sustaining capital costs by 12% compared with its 2017 forecast. Cenovus is also planning additional workforce reductions of approximately 15% and expects to achieve further cost efficiencies through continued improvements in areas such as drilling performance, development planning and optimized scheduling of oil sands well start-ups.

06:05 EDT Cenovus Energy CFO Ivor Ruste to retire on April 30, 2018 - Ivor Ruste, the company's CFO, will retire on April 30, 2018. An executive search will be conducted for the role and will consider both internal and external candidates.

06:03 EDT Facebook details Messenger's 2017, including over 7B daily conversations - Sean Kelly, Product Management Director, Messenger, said in a blog post: "We're excited to look back over the year, and highlight the top ways we saw Messenger's 1.3 billion strong global community connect and share with each other in 2017. Overall, there were 17 billion realtime video chats on Messenger, marking two times as many video chat sessions in 2017 compared to 2016. People shared over 500 billion emojis in 2017, or nearly 1.7 billion every day. GIFs are a popular choice too, with 18 billion GIFs shared in 2017. On average, there are over 7 billion conversations taking place on Messenger every day in 2017. At the same time, on average, 260 million new conversation threads were started every day in 2017. In 2017, 2.5 million new groups were created on Messenger EVERY day. The average group chat includes 10 people. As the year comes to a close, we want to extend a big thank you to our Messenger community - we are so happy to be part of your every day lives and we can't wait to help you chat longer, play games, take great photos or message a business in 2018! Thank you for trusting us with your messages that matter." Reference Link

06:02 EDT Cobalt commences Chapter 11 to facilitate restructuring - Cobalt announced that it and certain of its U.S. affiliates filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Cobalt expects to conduct business in the ordinary course, and its cash on hand is expected to provide Cobalt with adequate liquidity to fund its operations during the restructuring process. The Chapter 11 Cases are expected to facilitate the restructuring process and the proposed sale of Cobalt's assets. Cobalt has been engaged in constructive discussions with its first lien noteholders, second lien noteholders, unsecured noteholders and their respective advisors regarding the need for, sponsorship of, and terms of a restructuring and proposed sale of Cobalt's assets. Cobalt plans to utilize the Chapter 11 Cases to continue and complete these discussions with key stakeholders and evaluate other value-maximizing opportunities to facilitate an expedited restructuring that will deliver maximum value to its stakeholders. Cobalt has filed a variety of "first-day" motions with the court seeking, among other things, authority to use the cash collateral, maintain its existing cash management system and other customary relief. When granted, such motions will assure Cobalt's ability to maintain business-as-usual operations throughout the restructuring process.

06:00 EDT NY AG asks for delay in net neutrality vote at FCC - New York Attorney General Eric T. Schneiderman released new details of his office's investigation into fake comments submitted during the net neutrality comment process, with a new analysis showing that two million of the comments stole real Americans' identities. "Millions of fake comments have corrupted the FCC public process - including two million that stole the identities of real people, a crime under New York law," said Attorney General Schneiderman. "Yet the FCC is moving full steam ahead with a vote based on this corrupted process, while refusing to cooperate with an investigation. As we've told the FCC: moving forward with this vote would make a mockery of our public comment process and reward those who perpetrated this fraud to advance their own hidden agenda. The FCC must postpone this vote and work with us to get to the bottom of what happened." Publicly traded Internet Service Providers include Comcast (CMCSA), Verizon (VZ), AT&T (T) and Charter (CHTR).

05:50 EDT Ctrip.com, Tennis Australia announce first-time partnership - Ctrip announced a new partnership with Tennis Australia, the governing body for tennis in Australia. This allows Chinese fans to purchase Australian Open tickets directly through Ctrip's online platform. Inbound tourism from China has been on the rise and with the recent outstanding performances of homegrown star players, the Australian Open has become an increasingly prominent "event destination" for Chinese tourists. During the past year, a total of 1.3 million Chinese visited Australia, according to Tourism Australia with 25% of those visit during the first two months of the year and 36% citing sports as one of the reasons for their trip.

05:38 EDT Wynn Resorts reaches agreement to purchase land across from Wynn Las Vegas - Wynn Resorts announces it has reached an agreement to purchase approximately 38 acres of land on the Las Vegas Strip directly across from Wynn Las Vegas. The purchase includes the 34 acre site of the former New Frontier, formerly the Alon Resort site, as well as 4 additional acres connected to the site for a total of $336M. The agreement completes a unique assembly of contiguous real estate of approximately 280 acres that spans from the Las Vegas Convention Center on Paradise Road from the east, to Industrial Road on the west. The combined frontage on the Las Vegas Strip is over 3,500 feet, including rights to approximately 1,000 acre feet of water. It is adjacent to nearly 6M square feet of convention and exhibition space. The average cost of the full assembly of 280 acres is less than $3M per acre. The future development of the land will further change tourist visitation patterns in Las Vegas drawing more visitors to the north end of Las Vegas Blvd and its collection of luxury resorts, including the existing Wynn Las Vegas and the Paradise Park development slated to begin construction in January 2018 on the site of the former Wynn Golf Course.

05:34 EDT Yirendai announces strategic investment in Lion Rock - Yirendai announced that it has made a strategic investment in Lion Rock, a comprehensive financial services platform that is focused on global asset allocation, through Lion Rock's Series A financing of HK$50M. Lion Rock is headquartered in Hong Kong and offers a wide-variety of high-quality financial products, financial news, robo-advisory services as well as asset allocation services through its online platform. Lion Rock aims to provide economic, safe, fast, convenient, superior and personalized professional financial services to Hong Kong, mainland China and global investors.

04:53 EDT Medidata says COO Michael Capone no longer with company - Medidata Solutions disclosed last night that effective December 13, Michael Capone, who has been Chief Operating Officer, is no longer employed by the company. Capone's areas of responsibility will be managed by the company's CEO and President, it added.