Stockwinners Market Radar for December 18, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:17 EDT Middleby's Lindsay sells 10,000 common shares - In a regulatory filing, Middleby treasurer Martin M. Lindsay disclosed the sale of 10,000 common shares at a price of $129.50 per share.

17:39 EDT Cars.com up 8.5% to $30.25 after Starboard reports 9.9% stake in company

17:32 EDT Overstock.com blockchain subsidiary tZERO commences $250M token sale - tZERO is pleased to announce the long-anticipated launch of the tZERO Security Token Sale. tZERO will treat the Tokens as preferred equity in the company. tZERO, the blockchain subsidiary of major e-retailer Overstock.com, opened its global $250 million USD Initial Coin Offering to accredited investors. During the period which commenced on December 18, 2017 and which is anticipated to run through January 18, 2018, tZERO will enter into Simple Agreements for Future Equity with strategic purchasers identified by the Company as accredited investors. During the period which is expected to commence on January 18, 2018 and to run through February 16, 2018, tZERO will enter into SAFEs with other accredited investors.

17:26 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Heico (HEI), up 2.1%. ALSO HIGHER: Extended Stay America (STAY), up 4.9% after it named Jonathan Halkyward its next president and CEO and after it raised its fiscal 2017 revenue guidance... Kratos Defense (KTOS), up 1.9% after it was awarded a $27M drone contract... Chicago Bridge & Iron (CBI), up 0.5% after it agreed to $6B merger with McDermott (MDR). LOWER: City Office REIT (CIO), down 3.5% after it filed to sell 4M shares of common stock... McDermott, down 1.6% after its deal announcement with Chicago Bridge & Iron.

17:23 EDT Fiserv group president Vielehr sells 10,000 common shares - In a regulatory filing, Fiserv group president Byron C. Vielehr disclosed the sale of 10,000 common shares of the company at a price of $131.03 per share.

17:13 EDT Lockheed Martin awarded $135.6M U.S. Navy contract - Lockheed Martin Rotary and Mission Systems, Manassas, Virginia, is being awarded a $135,584,779 indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, cost-plus-incentive-fee, and firm-fixed price contract for integrated common processors on behalf of the Program Executive Office Submarines' Maritime Surveillance Systems Program Office. The ICP program provides a common Integrated Undersea Surveillance Systems signal processing and display system software and hardware suite for Surveillance Towed Array Sensor System ships and IUSS shore sites. This contract has a five-year ordering period up to the contract award amount.

17:12 EDT Lockheed Martin awarded $961M U.S. Air Force contract - Lockheed Martin Missiles and Fire Control, Orlando, Florida, has been awarded a $961,160,000 indefinite-delivery/indefinite-quantity, firm-fixed-price, cost-reimbursable contract for sustainment, modernization and development. Work will be performed in Orlando, Florida; Ocala, Florida; and Warner Robins, Georgia, with an expected completion date of Dec. 17, 2022.

17:08 EDT 683 Capital Management reports 7.2% passive stake in trivago - In a regulatory filing, 683 Capital Managment disclosed a 7.2% passive stake in trivago, which represents 2,225,000 ordinary shares.

17:06 EDT TEGNA to acquire Midwest Television's broadcasting stations in San Diego - TEGNA (TGNA) and Midwest Television jointly announced they have entered into a definitive agreement under which TEGNA will acquire, for $325M in cash, KFMB-TV, the CBS (CBS) affiliated station in San Diego, KFMB-D2 and radio broadcast stations KFMB-AM and KFMB-FM in San Diego. The transaction, structured as an asset purchase, represents an attractive purchase price multiple of 6.6 times average expected 2017/2018 EBITDA, including expected run rate synergies and tax benefits. TEGNA expects the transaction to be accretive to EPS by a few cents within the first 12 months after close, and immediately accretive to free cash flow. TEGNA will finance the transaction through the use of available cash and borrowing under its existing credit facility. The acquisition is subject to customary regulatory approvals and closing conditions, and is expected to close in the first quarter of 2018.

17:01 EDT SiteOne Landscape to acquire Pete Rose, terms not disclosed - SiteOne Landscape announced it has entered into a definitive agreement to acquire Pete Rose. Started in 1975, Pete Rose has one location in the Richmond, VA market, and is a leader in the distribution of natural stone and hardscape material. The deal is scheduled to close in January 2018, subject to the satisfaction of customary closing conditions.

16:58 EDT Pinnacle West exec Falck sells 4,500 common shares - In a regulatory filing, Pinnacle West executive vice president of law David P. Falck disclosed the sale of 4,500 common shares of the company at a price of $89.07 per share.

16:51 EDT Rubicon adopts stockholder rights plan - Rubicon announced that its Board of Directors has adopted a stockholder rights plan in the form of a Section 382 Rights Agreement designed to preserve its substantial tax assets. As of December 31, 2016, Rubicon had federal and state net operating loss carryforwards of approximately $148M and $180M, respectively, which could be used in certain circumstances to offset Rubicon's future taxable income or otherwise payable taxes and therefore reduce its federal and state income tax liabilities. Rubicon's plan is similar to plans adopted by numerous other public companies with significant net operating loss carryforwards. Rubicon's ability to use NOLs would be substantially limited in the event of an "ownership change" under Section 382 of the Internal Revenue Code and related U.S. Treasury regulations. In general, an ownership change would occur if Rubicon's stockholders who own, or are deemed to own, 5% or more of Rubicon's common stock increase their collective ownership in Rubicon by more than 50% over a rolling three-year period. The stockholder rights plan is intended to reduce the likelihood of an unintended ownership change occurring through the buying of Rubicon common stock and is not meant to be an anti-takeover measure. As part of the plan, on December 18, 2017, Rubicon's Board declared a dividend of one preferred-share-purchase-right for each share of Rubicon common stock outstanding as of January 2, 2018. Effective immediately, if any person or group acquires 4.9% or more of the outstanding shares of Rubicon common stock, or if a person or group that already owns 4.9% or more of Rubicon common stock acquires additional shares representing 0.5% or more of the outstanding shares of Rubicon common stock, then, subject to certain exceptions, there would be a triggering event under the plan. The rights would then separate from the Rubicon common stock and would be adjusted to become exercisable to purchase shares of Rubicon common stock having a market value equal to twice the exercise price, resulting in significant dilution in the ownership interest of the acquiring person or group. Rubicon's Board has the discretion to exempt any acquisition of Rubicon common stock from the provisions of the plan if it determines that doing so would not jeopardize or endanger Rubicon's use of its tax assets. Rubicon's Board also has the ability to terminate the plan prior to a triggering event, including but not limited to in connection with a transaction, if it determines that doing so would be in the best interests of Rubicon's stockholders. The rights issued under the plan will expire on December 18, 2020. The rights may also expire on an earlier date if certain events occur, as described more fully in the Section 382 Rights Agreement that Rubicon will file with the Securities and Exchange Commission. The issuance of the rights is not a taxable event and will not affect Rubicon's reported financial conditions or results of operations (including earnings per share). Rubicon's stockholders do not have to take any action to receive their rights under the plan, and no separate rights certificates will be distributed until after the rights become exercisable.

16:44 EDT Benchmark Electronics names Roop Lakkaraju as new CFO - Benchmark Electronics announced the appointment of Roop K. Lakkaraju as executive vice president and chief financial officer. Mr. Lakkaraju replaces Don Adam, who will be retiring from the company at the end of the year. Mr. Lakkaraju has more than 25 years of management experience in overall financial strategy including treasury, financial planning and analysis, cost management, capital allocation, and balance sheet optimization. Mr. Lakkaraju was most recently CFO at privately held Maana, a software company that has pioneered an artificial intelligence-driven knowledge platform. Prior to that, he has been chief operating officer or chief financial officer for private and public high-technology companies.

16:38 EDT Connection declares special 34c dividend - PC Connection announced that its board of directors declared a special cash dividend of 34c per share payable on January 12, 2018, to shareholders of record at the close of business on December 29, 2017.

16:37 EDT Novavax updates on Phase 3 trial of RSV F vaccine and Phase 1/2 trial of NanoFlu - Novavax, Inc announced the Phase 3 trial of its RSV F protein recombinant nanoparticle vaccine for infants via maternal immunization will continue. Novavax also provided an update on its nanoparticle influenza vaccine candidate with proprietary Matrix-M adjuvant. "Novavax has completed an informational analysis of our Phase 3 trial of the RSV F Vaccine for infants via maternal immunization using threshold criteria for a commercial product. As a result, we are accelerating our Phase 3 trial enrollment into 2018. Our maternal immunization program is supported by an $89 million grant from the Bill and Melinda Gates Foundation and has also been granted Fast Track designation by the U.S. Food and Drug Administration," said Stanley C. Erck, President and CEO. "We have enrolled over 3,000 volunteers to date and anticipate that the current pace of enrollment would trigger an interim analysis in mid-2018, with an expected Phase 3 primary endpoint readout in early 2019. This timing would allow us to submit a biologics license application by the end of 2019." Regarding NanoFlu vaccine, the company states: "The wild-type viruses necessary to assess immunogenicity of the vaccines to circulating strains have been difficult to obtain, grow and maintain genetic stability. Therefore, a complete Phase 1/2 data package expected in February 2018."

16:36 EDT Silver Lake reports 10.8% stake in Cornerstone OnDemand - In a regulatory filing, Silver Lake disclosed a 10.8% stake in Cornerstone OnDemand. Silver Lake noted in the filing that it has the right to nominate two directors to the board of directors of the company.

16:25 EDT Aerie Pharmaceuticals trading resumes

16:22 EDT Conduent to open technology, innovation hub in greater Raleigh NC area - Conduent will open an all-new global technology and innovation hub in the greater Raleigh area, bringing 200 new full-time jobs to the renowned Research Triangle. Additionally, Conduent will receive state-sponsored job growth and development incentives totaling approximately $2.1M, including the Job Development Investment Grant and North Carolina Community College System's Customized Training Value incentive. These performance-based programs will help Conduent expand more efficiently, and hire and train its new employees more strategically.

16:20 EDT Gladstone Land acquires California almond orchard for $5.9M - Gladstone Land Corporation announced that it has acquired an organic almond orchard in California for approximately $5.9 million. Upon acquisition, the company entered into a 20-year, triple-net sale-leaseback agreement that consists of a fixed cash rent plus a variable rent component based on the annual gross crop revenues earned on the property. The company also announced the expansion of its existing credit facility with MetLife, increasing the overall size of the facility from $200 million to $275 million.

16:18 EDT Alpha Pro Tech announces the passing of President Alexander Millar - Alpha Pro Tech reported that Alexander W. Millar, one of the company's founders, and its current President and Chairman, passed away peacefully on December 16, 2017 following a brief battle with cancer. A successor to Mr. Millar has not been named at this time. The company does not anticipate any changes in day-to-day operations as a result of Mr. Millar's passing.

16:17 EDT McDermott to merge with CB&I in a $6B all-stock transaction - McDermott International (MDR) and CB&I (CBI) announced that the companies have agreed to combine in an all-stock transaction to create a premier fully vertically integrated onshore-offshore company, with a broad engineering, procurement, construction and installation service offering and market leading technology portfolio. Upon completion of the transaction, McDermott shareholders will own approximately 53% of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47%. Under the terms of the business combination agreement, CB&I shareholders will be entitled to receive 2.47221 shares of McDermott common stock for each share of CB&I common stock owned. The estimated enterprise value of the transaction is approximately $6 billion, based on the closing share price of McDermott on December 15, 2017. The combined company has secured approximately $6 billion of fully-committed financing, led by Barclays, Credit Agricole CIB and Goldman Sachs & Co. LLC, and it is expected that permanently funded debt financing in the form of term loans and unsecured bonds will be put into place prior to closing. The transaction has been approved by the boards of both companies and is expected to be completed in the second quarter of 2018.

16:13 EDT Southeastern Asset Management reports 16% stake in Sonic - Southeastern Asset Management disclosed a 16% active stake in Sonic in a regulatory filing, which represents over 6.4M shares. Southeastern said that it is switching from a filing on Schedule 13G to Schedule 13D in order to have more direct conversations with Sonic about the pace of share repurchase and other strategic matters. "While Southeastern is supportive of the course that CEO Cliff Hudson and Sonic's full executive team are pursuing, we feel that this filing change will give us the flexibility to discuss opportunities to maximize the company's long term value per share," Southeastern said in the filing.

16:10 EDT Point72 Asset Management reports 5% passive stake in Cott Corp. - In a regulatory filing, Point72 Asset Management disclosed a 5% passive stake in Cott Corp., representing ownership of over 6.87M shares. The filing does not allow for activism.

16:07 EDT Flexion enrolls first patient in ZILRETTA Phase 2 study - Flexion Therapeutics announced that it has enrolled the first patient in a clinical trial to evaluate the pharmacokinetics and safety of ZILRETTA in patients with osteoarthritis of the shoulder or hip. Known as the "SHIP" study, the randomized, open-label, Phase 2 trial is expected to recruit approximately 48 patients in total, including 24 patients with OA of the shoulder and 24 patients with OA of the hip. The SHIP study will compare ZILRETTA's pharmacokinetic profile to immediate-release triamcinolone acetonide in crystalline suspension and will also assess the safety and general tolerability of ZILRETTA in OA of the shoulder and OA of the hip. Patients will be randomized and treated with a single intra-articular injection of either ZILRETTA 32 mg or TAcs 40 mg. Each patient will be evaluated for 12 weeks following injection. Flexion expects to report top-line results of the study in the second half of 2018.

16:06 EDT AGNC Investment names Peter Federico as COO, Bernice Bell as CFO - AGNC Investment announced two promotions within its senior executive management team, effective March 31, 2018. Peter Federico, who currently serves as Executive Vice President and CFO, will be promoted to President and COO, and Bernice Bell, who currently serves as Senior Vice President and Chief Accounting Officer, will be promoted to Senior Vice President and CFO. Federico joined AGNC in 2011 and has served as AGNC's Executive Vice President and CFO since July 2016. Federico was previously Senior Vice President and Chief Risk Officer. Bell began working with AGNC in 2008 and has served as AGNC's Senior Vice President and Chief Accounting Officer since January 2016. Bell previously served as AGNC's Vice President and Controller.

16:03 EDT MTGE Investment Corp. names Peter Federico as COO, Donald Holley as CFO - MTGE Investment Corp. announced two promotions within its senior executive management team, effective March 31, 2018. Peter Federico, who currently serves as Executive Vice President and CFO, will be promoted to President and COO, and Donald Holley, who currently serves as Senior Vice President and Chief Accounting Officer, will be promoted to Senior Vice President and CFO. Federico joined MTGE in 2011 and has served as Executive Vice President and CFO since July 2016. Federico was previously the company's Senior Vice President and Chief Risk Officer. Holley began working with MTGE in 2011 and has served as the company's Senior Vice President and Chief Accounting Officer since January 2016. Holley was previously the company's Vice President and Controller.

16:01 EDT Delta says Atlanta operations 'returning to normal' - In an update posted to its corporate website, Delta Air Lines states: "Delta's recovery efforts continued Monday following an Atlanta Airport power outage that shut down the facility for much of Sunday. Delta began the day with 390 cancelled flights and as of 1 p.m. ET had not added to that total as the operation had stabilized and the majority of Delta customers had been rebooked. In total, Delta canceled approximately 1,400 flights over the nearly 24-hour period."

15:53 EDT Aerie says FDA approves Rhopressa 0.02% - Aerie Pharmaceuticals announced that the U.S. Food and Drug Administration has approved Rhopressa 0.02% for the lowering of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension. The FDA approval decision was made two months ahead of the scheduled PDUFA goal date of February 28, 2018. "The approval of once-daily Rhopressa represents the single greatest achievement in Aerie's history to date, and represents exciting news for patients with open-angle glaucoma or ocular hypertension, and physicians. It is a testament to years of successful research and development and the incredible talents of our dedicated employees, to whom we owe much gratitude. We have been preparing for commercialization for well over a year, and our plans are clear. We will hire our sales force of 100 sales representatives early in the first quarter of 2018, and plan to launch by mid-second quarter of 2018. As the 2018 year progresses, it is our goal to make strides in gaining formulary coverage for commercial plans, which represent approximately half of the U.S. market. The other half of the U.S. market is covered through Medicare Part D, and we expect our formulary presence for this market to commence in January 2019. We also remain on track to file our Roclatan new drug application to the FDA in second quarter 2018," said Vicente Anido, Jr., Ph.D., Chairman and Chief Executive Officer at Aerie.

15:48 EDT Aerie Pharmaceuticals off lows after FDA approves Rhopressa - A post to the FDA website lists Rhopressa as an approved product. Cowen analyst Tyler Van Buren previously said in early November that Aeri Pharmaceuticals was accelerating the late stage commercial preparations given the potential for an earlier than expected approval of Rhopressa.Reference Link

15:01 EDT RadNet, MemorialCare to form imaging network JV - MemorialCare and RadNet announced they formed a joint venture. The venture, with 34 outpatient medical imaging centers spanning Orange County, Long Beach, South Bay and other Southern Los Angeles County cities, will become Southern California's largest imaging network. Under the joint venture, with operations beginning Jan. 1, 2018, RadNet will contribute 24 existing outpatient imaging centers in Orange County, Long Beach, South Bay and other Southern Los Angeles County cities. MemorialCare will contribute 10 outpatient imaging facilities in many of those markets. Upon commencement of operations, RadNet will manage day-to-day operations of the facilities and provide administration and back-office support functions on behalf of the partners. In addition to developing a comprehensive imaging network in Orange County, Long Beach and Southern Los Angeles County, the partnership will allow for significant operating system efficiencies and improved patient access and care. It will include adoption of RadNet's eRAD Radiology Information System at all locations and integration and coordination of the radiologist professional component.

14:25 EDT BMW delivers 100,000 electric vehicles globally in 2017 - BMW said it has delivered more than 100,000 electrified vehicles to customers worldwide in 2017, as promised at the beginning of the year. "We deliver on our promises," said Harald Krueger, Chairman of the Board of Management of BMW AG. "This 99-metre-high signal is lighting the way into the era of electro-mobility. Selling 100,000 electrified cars in one year is an important milestone, but this is just the beginning for us. Since the introduction of the BMW i3 2013, we've delivered over 200,000 electrified cars to our customers and by 2025, we will offer 25 electrified models to our customers. Our early focus on electro-mobility has made this success possible - and electro-mobility will continue to be my measure for our future success."

13:12 EDT CSX CEO death raises questions about strategy, M&A potential - Shares of CSX (CSX) are off their worst levels of the session and trading fractionally higher following the death of the company's CEO over the weekend. While the news prompted a stock downgrade to Hold at TD Securities, JPMorgan analyst Brian Ossenbeck argued that Hunter Harrison's legacy will continue at CSX and that he sees downside in the stock being limited. Meanwhile, Cti analyst Christian Wetherbee pointed out that the death of the company CEO may increase the likelihood of a merger with Canadian Pacific (CP). MOVING TO THE SIDELINES: Following the unexpected medical leave of absence and subsequent death of CEO Hunter Harrison, TD Securities downgraded CSX to Hold from Buy and lowered its price target on the shares to $54 from $63. The firm argued that senior management now lacks a member with an operating background. LIMITED DOWNSIDE: Meanwhile, JPMorgan's Ossenbeck told investors that he believes Hunter Harrison's legacy will continue at CSX, reiterating an Overweight rating and $63 price target on the shares. The analyst said he estimates downside in the stock to be limited to $45-$48 based on his below consensus forecasts, with U.S. tax reform and a "tighter truck market" providing positive near-term catalysts. Nonetheless, Ossenbeck acknowledged that the lack of a defined management succession plan remains a near-term hurdle for CSX, and will not likely be addressed until the investor day in first quarter of 2018. Voicing a similar opinion, Baird analyst Benjamin Hartford said he believes the shares should find support in the $48-$50 level, which is where shares traded during previous periods of transition for the company. While Hunter Harrison's passing "undoubtedly" introduces incremental risk and uncertainty to the trajectory of CSX's operating ratio improvement, and it is even more so a "show-me" story given the absence of his leadership, Hartford noted that the PSR model has been put into place, the company employs the talent needed to execute the plan, and there is no reason to diminish CSX's expectations regarding the pace and magnitude of future progress. He reiterated an Outperform rating and $58 price target on the shares. MERGER WITH CANADIAN PACIFIC: In a research note of his own, Citi's Wetherbee told investors that he believes the death of Harrison may increase the likelihood of CSX attempting to merge with Canadian Pacific. However, the analyst noted that he is not sure a deal could be accomplished due to elevated regulatory risk. A "large portion of the heavy lifting" related to the start of CSX's turnaround occurred in 2017, allowing 2018 to be a year focused on executing, he contended, adding that he still believes in the company's long-term potential. Wetherbee also pointed out that he sees Jim Foote as capable of executing Hunter's vision, while noting that CSX's board could move to add seasoned executives in the coming months. The analyst reiterated a Buy rating and $58 price target on the shares. PRICE ACTION: In afternoon trading, shares of CSX are fractionally up to about $53 per share.

12:42 EDT Trend Discovery reports 5.02% passive stake in Diana Containerships

11:47 EDT Pfizer authorizes new $10B share repurchase program - The board of directors authorized a new $10B share repurchase program to be utilized over time. This new program is in addition to the $6.4B remaining under the company's current authorization.

11:35 EDT Videocon d2h to delist from Nasdaq on or about January 3 - Videocon d2h Limited (VDTH) announced the receipt of the final approval needed in India for the closing of the merger of Videocon d2h with and into Dish TV. The Ministry of Information and Broadcasting in India vide its letter dated December 15, 2017 has approved the requests made by the company for completion of the transaction. Videocon d2h announced its intention to voluntarily delist its American Depositary Shares from the Nasdaq Global Market and to deregister with the U.S. Securities and Exchange Commission, in connection with its amalgamation with Dish TV India Limited. The delisting of the Videocon d2h ADSs from Nasdaq is expected to take effect on or about January 3, 2018, after close of business.

11:22 EDT Siebert Financial trading halted, volatility trading pause

11:10 EDT ESPN president John Skipper resigns, citing substance addiction - John Skipper resigned as president of ESPN and co-chairman of the Disney Media Networks, it was announced by ESPN. George Bodenheimer, ESPN's president from 1998-2011 and its executive chairman until May 2014, will take over as the acting chairman of the company for the next 90 days to help Disney chairman and chief executive officer Bob Iger find Skipper's replacement. "I have struggled for many years with a substance addiction. I have decided that the most important thing I can do right now is to take care of my problem.I have disclosed that decision to the company, and we mutually agreed that it was appropriate that I resign...I come to this public disclosure with embarrassment, trepidation and a feeling of having let others I care about down. As I deal with this issue and what it means to me and my family, I ask for appropriate privacy and a little understanding," Skipper said in a statement. ESPN is a unit of Disney.

10:58 EDT Akamai surges as Elliott Management takes stake, calling shares 'undervalued' - Shares of Akamai Technologies (AKAM) are rising after Paul Singer's activist fund Elliott Management disclosed a stake in the company. ELLIOTT TAKES STAKE: In a regulatory filing released on Friday, Elliott disclosed a 6.5% stake in Akamai and said shares are "significantly undervalued and represent an attractive investment opportunity." The hedge fund said Akamai "possesses an unmatched network platform which provides a significant competitive advantage in its ability to deliver, accelerate, optimize and secure global traffic and business applications over the internet" and it "believes that there are numerous operational and strategic opportunities to maximize shareholder value." Elliott added that it will seek to engage in talks with Akamai's board of directors and management regarding operational and strategic matters and intends to communicate with other shareholders including potential suitors, service providers and financing sources. WHAT'S NOTABLE: Sources familiar with the matter told Reuters that Elliott will look to curb "wasteful spending" and "poor strategic planning when it comes to expanding to new markets." An Akamai spokesman told Reuters that "We appreciate the views of all our stockholders and we value constructive input toward the common goal of enhancing stockholder value." ANALYST REACTION: Credit Suisse analyst Brad Zelnick upgraded Akamai to Outperform from Neutral this morning and raised his price target on shares to $75 from $55. In a note to clients, Zelnick said Akamai is "a unique asset with tremendous strategic value" and Elliott's disclosure represents a catalyst that could unlock value. The analyst said he believes the news ramps up the potential for a strategic review, including a full or partial sale, a restructuring of the company's portfolio, a review of management incentives and a capital structure review. Oppenheimer analyst Timothy Horan also raised his price target for Akamai, to $80 from $60, after Elliott announced its stake. Horan said he believes Akamai is "a perfect activist target" as management has allowed margins and revenues to drop and could use Elliott's help on execution. The analyst added that he thinks that Akamai is "an extremely attractive acquisition target" given its distinct, cloud edge-based security capabilities and he expects Elliott will look to sell the company or change management. Horan, who noted that Elliott "has a strong track record of working with management teams" to improve performance over the long-term, reiterated an Outperform rating on the shares. PRICE ACTION: Shares of Akamai jumped 14.9%, or $8.61, to $65.31 in morning trading.

10:54 EDT Campbell Soup sees Snyder's-Lance deal accretive to FY19 EPS by 5%-7% - Sees acquisition accretion increasing to 15%-20% by FY21.

10:49 EDT Snyder's-Lance CEO Driscoll says Campbell's approached the company 'this summer'

10:38 EDT Twitter rises as analysts say buy, JPMorgan sets Street-high target - Shares of Twitter (TWTR) are on the rise after JPMorgan analyst Doug Anmuth upgraded the stock to Overweight, a buy-equivalent rating, as he believes product improvements and user growth should drive revenue inflection. Meanwhile, his peer at Summit Redstone started coverage of the microblogging service stock with a Buy rating, pointing to similar reasons. BUY TWITTER: In a research note to investors this morning, JPMorgan's Anmuth upgraded Twitter to Overweight from Neutral and raised his price target on the shares to $27 from $20, while calling the stock one of his top small-to-mid-cap ideas in 2018. Anmuth's target of $27 is easily the highest of the 28 Wall Street analysts with price targets updated within the last three months, according to Bloomberg data. The analyst believes both the Twitter story and financial results will strengthen over the next year as the company continues to build on its differentiated value proposition for users and returns to revenue growth. Anmuth argued that the company's products are improving, led by video and live streaming content, changes across the timeline, notifications and Explore tab and a better user interface. Additionally, he expects continued double-digit Daily Active Users growth of 10% in 2018 and believes Twitter can grow ad revenue 8.6% in 2018 on increasing demand. Twitter should be GAAP profitable in 2018 as it benefits from revenue-driven margin expansion, he contended. Meanwhile, Summit Redstone analyst Jonathan Kees started coverage of Twitter with a Buy rating and $26 price target. The analyst told investors in a research note of his own that he sees an opportunity in the shares for 2018 as easier comparisons could lead to revenue growth. WHAT'S NOTABLE: Twitter is implementing new rules that will suspend users affiliated with hate groups "on and off the platform" in a policy that could result in a purge of alt-right and neo-Nazi accounts, according to Recode, citing the company. Twitter will begin punishing accounts that include "hateful imagery and display names" or those who "use a username, display name, or profile bio to engage in abusive behavior" as the platform looks to combat "specific threats of violence or wish for the serious physical harm, death, or disease of an individual or group of people." PRICE ACTION: In morning trading, shares of Twitter have gained almost 8% to $23.95.

10:33 EDT iRobot announces agreement with Black & Decker in patent dispute - iRobot (IRBT) announced that it has reached a confidential agreement with Black & Decker (SWK). As part of the agreement, Black & Decker agreed to discontinue sales of all home robotic vacuums for a certain period of time after selling through its existing inventory. The remaining terms of the settlement are confidential. As part of the agreement, iRobot has agreed to remove Black & Decker from the pending U.S. International Trade Commission investigation No. 337-TA-1057 and the United States District Court of Massachusetts Case No. 1:17-cv-10647. The actions involving Bissell Homecare, bObsweep, bObsweep USA, Hoover, Shenzhen ZhiYi Technology, Matsutek Enterprises, and Shenzhen Silver Star Intelligent Technology will proceed. An evidentiary hearing in the ITC investigation is scheduled for March 2018.

10:18 EDT Mesoblast trading halted, volatility trading pause

10:09 EDT Delta: About 400 flights cancelled today, 1,000 yesterday due to power outage - Delta said it has cancelled nearly 400 flights today as it works to recover from a power outage at the Atlanta airport that shut down the facility for much of Sunday. Nearly 1,000 Delta flights were cancelled on Sunday following the power outage, which impacted all airlines operating in Atlanta. Power has been restored, the company noted in an update posted to its corporate website. Reference Link

10:01 EDT CPSI's AHT selected by nursing facility for extensive EHR software solutions - American HealthTech, a member of the CPSI family of companies, announced that Barnes-Kasson County Hospital, which serves the community of Susquehanna, Pennsylvania, and the surrounding area, has selected AHT to provide comprehensive electronic health records software solutions in a cloud-hosted environment for its skilled nursing facility.

09:59 EDT Sphera reports 7.43% passive stake in Viking Therapeutics

09:49 EDT Boston Properties raises regular quarterly dividend by 6.7% to 80s per share - Boston Properties announced that its Board of Directors declared a regular quarterly cash dividend of 80c per share of common stock for the period October 1, 2017 to December 31, 2017 payable on January 30, 2018 to shareholders of record as of the close of business on December 29, 2017. This represents an increase of 6.7%, or 5c per share, over the most recent quarterly cash dividend of 75c per share.

09:48 EDT Document Security jumps as blockchain-related trademark application circulated - The micro-cap stock is up 72c, or 58%, to $1.95 in early trading. Reference Link

09:29 EDT MongoDB announces availability of MongoDB Atlas on AWS Marketplace - MongoDB (MDB) announced the availability of MongoDB Atlas on AWS Marketplace (AMZN). The company is also announcing several technology advancements for its fast-growing cloud database service that give customers improved performance, resilience and efficiency in the cloud.

09:27 EDT Boeing, Neos, AerCap: First 787 Dreamliner delivered to Neos - Boeing (BA), Neos and AerCap (AER) celebrated the delivery of the leisure carrier's first Boeing 787 Dreamliner. Neos is leasing the 787-9 through an agreement with AerCap and becomes the first Italian operator of the airplane. Neos becomes the 45th carrier to operate the 787 Dreamliner. AerCap, the world's largest Dreamliner customer, plans to deliver two additional 787s to Neos by next year.

09:25 EDT On The Fly: Pre-market Movers - HIGHER: Pinnacle Entertainment (PNK), up 4.4% after being acquired by Penn National Gaming (PENN)... Amplify Snack Brands (BETR), is up 70.7% after Hershey (HSY) announced it will acquire the company... Vipshop (VIPS), up 49.4% after Tencent Holdings (TCEHY) and JD.com (JD) agree to invest an aggregate amount of approximately $863M in cash in Vipshop. LOWER: Hershey is down 1.4% after announcing the acquisition of Amplify Snack Brands... CSX (CSX), is down 2.3% after CEO E. Hunter Harrison passed away over the weekend.

09:18 EDT John Fox responds to board of Marathon Petroleum - John Fox, co-founder of MarkWest Hydrocarbon, released the following open letter to the board of directors of Marathon Petroleum Corporation (MPC) responding to management's announcement to demand over $10B for its GP economic interest in MPLX (MPLX). "To the Board of Directors of Marathon Petroleum Corporation: I was frustrated to see Marathon Petroleum Corporation's Board of Directors continues to push an unjustified inflated price for its Incentive Distribution Right burden on MPLX. Therefore, I sincerely hope your press release dated December 15, 2017 does not represent the final deal terms. As I outlined in my letter to you on December 5, 2017, any multiple in excess of 14x is both well above the precedent set by the market, and will destroy value for both MPLX and MPC. With a 4.8% single-day decline in the value of MPLX units after your announcement of the transaction, it is clear that investors are voting with their feet. Based on the volume-weighted average price of MPLX over the past 10 days which MPC's management is using to value the newly issued MPLX common units, the IDR elimination will be executed at a multiple of 17x the pro forma value of the GP's IDRs. Given expectations of available Distributable Cashflow to the LP for 2018 of $1.9 billion and approximately 796 million outstanding units following the issuance of your 275 million new units as part of the elimination, pro forma distributions will equate to $2.40 per unit. However, if you didn't do the IDR elimination, I estimate you would be distributing $2.50 - $2.55 per unit. How, then, can the IDR elimination be considered accretive as you indicate in your press release? Over the past 13 days since my last letter, I have had an overwhelming response from many large institutional holders of MPC and MPLX that share my concern over the valuation. Your more than $10 billion valuation announced on Friday is destructive not only to MPLX but also to MPC who would own two thirds of MPLX if this gets done on these terms! Gary, you and others have emphasized that a significant part of your effort to create value for MPC shareholders is to enhance the value of your ownership of MPLX where MPC is the largest unit holder. Yet by insisting on a value-destroying multiple from MPLX you are in effect shooting MPLX in the foot! By insisting on 275,000,000 units of MPLX rather than a more justifiable number of 215,000,000 units you, in effect, cripple MPLX and its value creating potential for MPC. Where is the logic in doing that? I support MPC's decision to eliminate the IDRs, but it must be done at a multiple which will actually create long-term value for MPLX and its unitholders, MPC included. I urge you to reconsider the inflated multiple you have set to this deal so that you do not lose an opportunity to create real value for MPLX. It is not too late to do the right thing!"

09:15 EDT Terreno Realty acquires buildings in Gardena, CA for $37.6M - Terreno Realty Corporation acquired an industrial property located in Gardena, California on December 15, 2017 for a purchase price of approximately $37.6M. The property consists of two industrial distribution buildings containing approximately 231,000 square feet on 11.1 acres. The property is at 1855 West 139th Street, south of Interstate 105 and between Interstates 405 and 110, provides 24 dock-high and three grade-level loading positions, parking for 163 cars and is 100% leased to one tenant. The estimated stabilized cap rate of the property is 4.2%.

09:08 EDT AT&T launches 5G trial with Magnolia at the Silos - "AT&T is kicking off its largest 5G fixed wireless trial with Magnolia in Waco, Texas, at the Silos. Not only is this our largest trial in terms of mobile traffic, but it also marks our largest 5G trial with a home and lifestyle brand.We plan to expand the 5G trial to additional trial participants in Waco. Those may include small businesses, residential customers, churches and large educational institutions."

09:06 EDT AudioCodes chosen by Sunrise for Skype for Business online services - AudioCodes (AUDC) announced that its One Voice portfolio of products and solution has been selected by Sunrise Communications, a leading service provider and system integrator in Switzerland. Sunrise, an AudioCodes platinum status channel partner, is deploying AudioCodes' solutions to deliver robust and cost-effective voice infrastructure for business customers using Microsoft (MSFT) Skype for Business unified communications. Sunrise offers its customers Microsoft unified communications both as an on-premises and a cloud-based solution (in conjunction with Skype for Business Online). Fully aligned with Microsoft's current and future voice strategies, AudioCodes solutions are suitable for both scenarios.

09:05 EDT 8x8 grants new employee inducement awards pursuant to NYSE rule - 8x8, Inc. announced the grant on December 12, 2017 to three employees of non-qualified options to purchase up to 198,440 shares of the company's common stock. The grants were approved by a majority of the company's independent directors as material inducements to the hiring of the new employees, in accordance with New York Stock Exchange Rule 303A.08 and the company's 2017 New Employee Inducement Incentive Plan. Each stock option is exercisable at a price of $14.10 per share and vests over a period of approximately four years, with 1/4th of the shares vesting on the first anniversary of the recipient's employment start date, and the remainder vesting ratably over 36 months thereafter, subject the recipient's continuing employment or other association with the company or any of its subsidiaries.

09:04 EDT Amazon announces second annual Digital Day on December 29 - The second annual Digital Day will take place on Friday, December 29, offering the biggest savings of the year on digital content across Amazon. Customers will be able to access more than 5,000 deals over eight categories including movies, TV shows, mobile games, apps, eBooks, and more. "Amazon Digital Day is an amazing time to shop for deals on digital content," said Aaron Rubenson, VP, Amazon Appstore. "The customer response was incredibly positive last year, and we're excited to help customers find great discounts again this year-whether they just received a new Amazon Fire TV, Fire Tablet, or Fire Kids Edition Tablet over the holidays or are looking to add new content to their current device."

09:04 EDT Lockheed Martin confirms meeting 2017 F-35 delivery target - On Friday, December 15, Lockheed Martin delivered the 66th F-35 aircraft for the year, meeting the joint government and industry delivery target for 2017. To date, more than 265 F-35 aircraft have been delivered to U.S. and international customers. More than 530 pilots and nearly 5,000 maintainers have been trained, and the F-35 fleet has surpassed more than 115,000 cumulative flight hours. Sixty-six F-35 deliveries in 2017 represents more than a 40% increase from 2016, and the F-35 enterprise is prepared to increase production volume year-over-year to hit full rate of approximately 160 aircraft in 2023.

09:02 EDT Pope Resources announces $12.5M of sales from Harbor Hill project - Pope Resources announced recent sales totaling 78 single-family lots from its Harbor Hill project in Gig Harbor, Washington for a combined $12.5M. The buyers were two different merchant builders: MainVue and Azure Northwest. Harbor Hill is a mixed-use planned community consisting of residential, retail, business park, and commercial properties.

08:49 EDT Penn National says $100M in annual synergies will be on cost side initially - Says revenue opportunities will come later.

08:46 EDT Penn National says sees more upside in margin improvement as integration unfolds - Says will be very focused on margin improvement in 2018.

08:43 EDT Penn National says too early to discuss staff changes - Says considering long-term expansion plans in Las Vegas.

08:42 EDT On Track Innovations says developing capabilities to implement use of Bitcoins - On Track (OTIV) Innovations has announced that it is developing capabilities to implement the use of Bitcoins (BITCOIN, BTC) in its cashless payment solutions. "At OTI we are working hard and intend to rapidly become Bitcoin acceptable in transactions via NFC, Bluetooth or QR code," stated Shlomi Cohen, OTI's CEO. "We also look forward to integrating Bitcoin acceptance in our innovative ATM and secure cashless vending products."

08:38 EDT Penn National says does not anticipate further asset sales - Says comfortable with balance sheet.

08:37 EDT EyeGate achieves 75% enrollment in Phase 3 pivotal trial of EGP-437 - EyeGate Pharmaceuticals reported that the Phase 3 pivotal trial of EGP-437 for treatment of non-infectious anterior uveitis has reached 75% patient enrollment. Topline data is expected to be released in the second quarter of 2018.

08:35 EDT WGL Energy, Susquehanna University partner for 14-acre solar array - Susquehanna University has entered into an agreement with WGL Energy Systems to develop a 3.9 MW DC ground-mounted solar array that will supply 30% of the university's electricity needs. Construction has already begun on the 12,000-panel, 14-acre project, located at the Center for Environmental Education and Research along the western border of campus on Sassafras Street. It is the largest university-sponsored solar array in Pennsylvania. The facility is expected to be completed by summer of 2018. Susquehanna will purchase that electricity from WGL Energy. WGL Energy Systems, which has more than 200 MW of distributed generation projects installed or under contract across 20 states and the District of Columbia, will own and operate the facility under a 25-year power purchase agreement.

08:32 EDT Telaria names Rick Song as Chief Revenue Officer - Telaria announced that Rick Song has joined the company as Chief Revenue Officer. Song will lead the global sales team and will be responsible for driving revenue growth and expanding strategic relationships with premium video and CTV publishers, as well as deepening engagement with buyers and agencies. He will report to CEO Mark Zagorski. Song was most recently CRO of Rocket Fuel.

08:32 EDT State of Vermont selects Everbridge for emergency notification program - Everbridge announced that the Vermont Department of Public Safety, Division of Emergency Management has selected Everbridge as the new mass notification service provider for its state-wide VT-ALERT program. VT-ALERT, powered by Everbridge, will enable Vermont authorities to communicate critical information directly to residents, businesses and visitors in near real-time. The state-wide system will distribute public safety information such as Amber Alerts, weather warnings and evacuation notifications across multiple communication methods including SMS, email, IPAWS, reverse 911 and social media for geographically-targeted alerts. Residents can re-register or subscribe at www.vtalert.gov/enroll and can tailor the information that they receive to specific locations, types of alerts and preferred contact paths and devices.

08:30 EDT ModusLink trading resumes

08:19 EDT Biocept announces in-network provider agreement with Wellmark BCBS - Biocept announces that it has signed an in-network provider agreement with Wellmark, Inc., the largest health insurer in Iowa and South Dakota. The agreement marks Biocept's third Blue Cross Blue Shield contract and enables patients diagnosed with cancer the ability to access the company's proprietary testing services in-network under their Wellmark health plan, Biocept stated.

08:18 EDT DarioHealth reports regulatory approval in Australia for iPhone glucose meter - DarioHealth (DRIO) announced that it received the Therapeutic Goods Administration, or TGA, Mark for its Lightning-enabled version of the Dario Blood Glucose Monitoring System in Australia. "With today's announcement, DarioHealth can now successfully offer its proprietary glucose meter with either a 3.5mm headphone jack or Lightning connector to users in Australia...In addition to the TGA approval, users in the U.K. will be able to purchase the Lightning-enabled Dario device at the end of this month while sales of the device will begin in Australia by January 2018. DarioHealth is still waiting on approval from regulatory agencies in the U.S. and Canada, which is expected in the coming months," the company stated.

08:15 EDT Ruby Tuesday rejects Boaz Group proposal - Ruby Tuesday announced that on December 12, 2017, it received another highly-conditional and not fully-financed proposal from The Boaz Group, LLC to purchase all of the outstanding shares of common stock of Ruby Tuesday for $2.88 per share. Boaz was a participant in Ruby Tuesday's strategic review process and had failed on multiple occasions to produce an actionable proposal despite having been provided with ample time and opportunity to do so. The Board of Directors thoroughly evaluated Boaz's most recent proposal, including seeking clarifications from Boaz on the proposal, and unanimously determined that the proposal did not constitute and would not reasonably be expected to lead to a superior proposal as compared to the acquisition by NRD Capital and therefore rejected the proposal. The board of Ruby Tuesday continues to unanimously recommend that Ruby Tuesday stockholders vote "FOR" the proposal to approve and adopt the merger agreement with affiliates of NRD Capital.

08:13 EDT Federal Signal names Mark Weber as COO, effective January 15, 2018 - Federal Signal (FSS) announced that its Board of Directors has appointed Mark Weber as the company's COO, effective January 15, 2018. Weber, former President and CEO of Supreme Industries (STS), has more than 30 years of experience leading industrial manufacturing teams and organizations. Weber rejoins Federal Signal after four years at Supreme, where he led the successful operational and strategic turnaround of the business.

08:12 EDT Aduro Biotech initiates Phase 1/2 clinical trial of BION-1301 - Aduro Biotech announced that the first patient in its Phase 1/2 dose escalation and dose expansion clinical trial has been dosed at Virginia Cancer Specialists in Fairfax, Virginia, the first site in this multi-center trial. The study is designed to evaluate the safety and activity of BION-1301, a humanized anti-APRIL antibody, for adults with relapsed or refractory multiple myeloma.

08:11 EDT Valeant's Bausch + Lomb begines distribution of VYZULTA - Valeant Pharmaceuticals' wholly owned subsidiary, Bausch + Lomb announced that it has begun distributing VYZULTA 0.024% to U.S. wholesale pharmaceutical distributors. VYZULTA will be available to patients across the United States through their local pharmacies within the next few days. VYZULTA, the first prostaglandin analog with one of its metabolites being nitric oxide, is indicated for the reduction of intraocular pressure in patients with open-angle glaucoma or ocular hypertension.

08:09 EDT Pain Therapeutics reports positive regulatory meeting for Remoxy - Pain Therapeutics announced that it has successfully concluded a regulatory meeting with the FDA regarding REMOXY, a drug candidate for severe chronic pain. The purpose of this pre-New Drug Application (NDA) meeting was to agree on submission requirements for the REMOXY NDA under 505(b)(2) of the Federal Food, Drug, and Cosmetic Act. Following a successful conclusion of its meeting with the FDA, Pain Therapeutics intends to resubmit the REMOXY NDA in Q1 2018 with Priority (six-month) Review. Pain Therapeutics received comments and clarification from the FDA on the acceptability of the data to be included in the REMOXY NDA resubmission, including a recent intranasal study. All questions were clearly and adequately addressed, and summarized in official minutes of the meeting recently issued by the FDA. There are no discrepancies or requests for clarifications following receipt of final meeting minutes.

08:06 EDT Noble Corp. says Paragon claims 'without merit' - Noble Corporation commented on a complaint filed against the dcompany by the Paragon Litigation Trust in connection with the August 2014 spin-off by Noble of Paragon Offshore. "As previously disclosed, Noble believes the claims are without merit and intends to vigorously contest the lawsuit. Further, the Company reiterated its position that the spin-off was a thoughtfully executed strategy, accomplished with the assistance of capable outside advisors and designed to support the success of Paragon by virtue of several important operational and financial factors at the time of the spin-off, including: A well-maintained fleet of rigs with a diversified global presence, A strong client base, A contract backlog of approximately $2 billion, Working capital of $200 million, and An undrawn $800 million revolving credit facility.At the time of the spin-off, the Noble Board of Directors received an independent solvency opinion confirming that Paragon was solvent, properly capitalized and possessed an appropriate level of liquidity. Furthermore, crude oil markets continued to be strong, with Brent crude trading near $100 a barrel up to and beyond the date of the spin-off. Noble noted that it was disappointed by the decision of the Paragon Litigation Trust to commence a suit. The Company observed that the arduous business conditions in the oil and gas sector that arose following the spin-off and that have persisted to present, have had a significant negative influence on all participants in the offshore drilling business. Noble continues to believe that the severity of the business downturn, as well as actions taken by Paragon after the spin-off, resulted in Paragon's bankruptcy despite the strong operational and financial condition of Paragon at the time of the spin-off. The Company will take all appropriate action to vigorously defend itself."

08:04 EDT Teva announces FDA acceptance of BLA for fremanezumab - Teva Pharmaceutical Industries announced the U.S. Food and Drug Administration has accepted for review the company's Biologics License Application for fremanezumab, an anti-calcitonin gene-related peptide monoclonal antibody for the preventive treatment of migraine. Additionally, the FDA has granted fast track designation for fremanezumab for the prevention of cluster headache. In order to bring this much-needed therapy to the migraine community, Teva acquired a priority review voucher to expedite the review of fremanezumab, which, if approved, would be a new preventive option for patients suffering from this debilitating disease. Regulatory action is anticipated by mid-2018. The BLA includes data from the HALO clinical trial program, which enrolled more than 2,000 patients with episodic migraine and chronic migraine, evaluating both quarterly and monthly dose regimens, in which fremanezumab achieved statistically significant results across all trial endpoints. The most common adverse events reported in clinical trials include injection transient and mild site induration, erythema, and itching at the injection site. Fremanezumab is also being investigated for the prevention of chronic and episodic cluster headache as part of the Phase III ENFORCE clinical research program, which has been granted fast track designation by the FDA. Trial participant recruitment is now underway and the studies are expected to conclude in early 2019. Fast track designation is intended to facilitate development and expedite review of drugs to treat serious or life-threatening conditions. Additionally, Teva has also recently initiated a fremanezumab Phase II clinical program for the treatment of post-traumatic headache disorder.

08:04 EDT ModusLink announces acquisition of IWCO Direct for $476M - ModusLink (MLNK) and Steel Partners Holdings (SPLP) announced that ModusLink has completed the acquisition of privately-held IWCO Direct, a provider of data-driven direct marketing solutions, for $476M in cash. With this transaction completed, IWCO Direct becomes a wholly-owned subsidiary of ModusLink Global Solutions. IWCO Direct will continue to be run by Jim Andersen, who has been CEO since 1999. ModusLink Corporation, the Company's digital and physical supply chain business, will continue to be run by Jim Henderson. For the last 12 months through October 2017, IWCO Direct had net revenue of $470.6M, net income of $18.9M and EBITDA of $82.2M. For the last 12 months through October 2017, ModusLink had net revenue of $417.8M, a net loss of $22.5M and negative EBITDA of $3.8M, although net loss and EBITDA improved by $32.5M and $28.0M year-over-year, respectively, as a result of the corporate turnaround plan launched in May 2016. Warren Lichtenstein, Executive Chairman of ModusLink, said, "We have been looking to acquire a profitable business with attractive operations and financials, and with a strong management team in order to leverage our approximately $2.1 billion in net operating loss carryforwards and cash. We found a great fit in IWCO Direct. We essentially double the size of our Company and add significant earnings and free cash flow. We add a market leader with industry-leading solutions, a client base consisting of Fortune 500 companies, and significant opportunities to drive both top- and bottom-line results. We intend to aggressively grow IWCO Direct, organically and through acquisitions, and will look to leverage Steel Partners' vast relationships and resources to drive operational excellence and enhance stakeholder value."

08:02 EDT InVivo Therapeutics names Richard Toselli as acting CEO, replacing Mark Perrin - InVivo Therapeutics Holdings announced that Richard Toselli, M.D., has been appointed Acting CEO of InVivo, replacing Mark D. Perrin, who has resigned as CEO and Chairman of InVivo's Board of Directors. Dr. Toselli, a Board-certified neurosurgeon possessing senior leadership experience in surgical medical affairs at firms including Sanofi, DePuy, and Johnson & Johnson, will continue to serve in his capacity as InVivo's Chief Medical Officer, which role he assumed upon joining the company in July 2017. Mr. Perrin has agreed to serve as a consultant to the company for a period of six months. The company also announced that Ann Merrifield was appointed as Chair of the Board of Directors. Merrifield previously served as the company's Lead Director.

08:01 EDT ModusLink announces acquisition of IWCO Direct for $476M

08:00 EDT Snyder's & Lance trading resumes

07:55 EDT ModusLink trading halted, news pending

07:37 EDT Intellia Therapeutics names Dr. John Leonard as CEO - Intellia Therapeutics has named John Leonard, M.D., President and CEO, effective January 1, 2018. Dr. Leonard succeeds Nessan Bermingham, Ph.D., Intellia's founding President and CEO, who is returning to the venture capital industry. In recognition of the company's growth and expanding pipeline, the Board of Directors and Dr. Bermingham agreed that Dr. Leonard should lead the Company as it progresses toward clinical development, given his experience in successfully developing biopharmaceutical products and leading large scientific organizations.

07:32 EDT Celanese to acquire Omni Plastics, terms not disclosed - Celanese Corporation announced the signing of a definitive agreement for Celanese to acquire Omni Plastics and its subsidiaries, including the distributor Resinal de Mexico. Omni Plastics is headquartered and has a compounding facility in Evansville, Indiana, with additional offices in Mexico City. Omni Plastics specializes in custom compounding of various engineered thermoplastic materials. Celanese expects to integrate the Omni Plastics thermoplastic compounding product portfolio and production capabilities into the Celanese engineered materials business. Celanese expects to complete the transaction early in the 1Q18, pending customary closing conditions and regulatory approvals. Financial details of the transaction are not being disclosed at this time. Until closing, Celanese and Omni Plastics will continue to operate as independent businesses.

07:32 EDT Campbell Soup confirms acquisition of Snyder's-Lance for $50 per share in cash - Campbell Soup Company (CPB) and Snyder's-Lance (LNCE) announced that the companies have entered into an agreement for Campbell to acquire Snyder's-Lance for $50.00 per share in an all-cash transaction. The purchase price represents a premium of approximately 27% to Snyder's-Lance's closing stock price on Dec. 13, 2017, the last trading day prior to media reports regarding a potential transaction. The acquisition, which has been approved by the Boards of Directors of both companies, will enable Campbell to expand its portfolio of leading snacking brands. Snyder's-Lance will become part of Campbell's Global Biscuits and Snacks division, which includes the company's Pepperidge Farm, Arnott's and Kelsen businesses, and the simple meals and shelf-stable beverages business in Australia, Asia Pacific and Latin America. The division is led by Luca Mignini, President. The division will combine Snyder's-Lance's portfolio with Campbell's iconic snacking brands including Goldfish crackers, Tim Tam biscuits, Milano cookies and Kjeldsens butter cookies. Campbell plans to finance the acquisition through $6.2 billion of debt comprising a combination of long-term and short-term debt. Pro forma leverage is expected to be 4.8x at closing, and the company is committed to deleveraging to approximately 3x by fiscal 2022. Campbell will suspend share repurchases to maximize free cash flow for the purposes of paying down debt. Campbell also expects to maintain its current dividend policy. The closing of the transaction is subject to the approval of Snyder's-Lance shareholders, as well as customary regulatory approvals and other closing conditions. Certain members of the Warehime family, who collectively own 13.2 percent of Snyder's-Lance's outstanding common stock, have agreed to vote their shares in support of the transaction. Closing is expected by early second quarter of calendar 2018. Campbell expects the acquisition to be accretive to adjusted EPS in fiscal 2019, excluding integration costs and costs to achieve synergies. Credit Suisse acted as lead financial adviser to Campbell in this transaction. Rothschild also acted as a financial adviser to Campbell. Weil, Gotshal & Manges LLP acted as Campbell's legal counsel. Goldman Sachs & Co. LLC acted as lead financial adviser to Snyder's-Lance. Deutsche Bank has also acted as long-time financial adviser to Snyder's-Lance. Jenner & Block LLP acted as legal counsel to Snyder's-Lance.

07:30 EDT STRATA Skin Sciences trading resumes

07:26 EDT Cedar Fair names Tim Fisher as COO, effective immediately - Cedar Fair announced that Tim Fisher will join the company as COO, effective immediately. In this role, Fisher will oversee operations at all of the company's parks and resort locations. He will report directly to incoming CEO Richard Zimmerman. Fisher joins Cedar Fair from Village Roadshow, one of the leading theme park operators in the world.

07:18 EDT Boyd Gaming to acquire Four Pinnacle Entertainment assets for $575M - Boyd Gaming (BYD) announced that it has entered into a definitive agreement with Penn National Gaming (PENN) to acquire the operations of Ameristar St. Charles; Ameristar Kansas City (Missouri); Belterra Casino Resort in Florence, Indiana; and Belterra Park in Cincinnati, Ohio. The acquisition of these assets is in connection with Penn National's proposed acquisition of Pinnacle Entertainment (PNK), also announced earlier. Under terms of the agreement, Boyd Gaming will pay total cash consideration of $575M to acquire the four assets, representing a multiple of 6.25 times projected EBITDA before synergies. The Company expects the transaction to be free cash flow positive and immediately accretive to earnings. As part of the transaction, Boyd Gaming will enter into a master lease agreement with Gaming and Leisure Properties (GLPI), which owns the real estate of Ameristar St. Charles, Ameristar Kansas City and Belterra Casino Resort. GLPI has entered into an agreement to purchase the real estate of Belterra Park from Penn National, and Belterra Park's real estate will be leased to Boyd Gaming as part of Boyd Gaming's master lease agreement with GLPI. The terms of Boyd Gaming's lease agreement will be substantially similar to Pinnacle's current master lease with GLPI. Boyd Gaming expects the transaction to close in the second half of 2018, subject to the satisfaction of customary closing conditions and the receipt of all required regulatory approvals. The transaction is also contingent upon the successful completion of Penn National's proposed acquisition of Pinnacle. The Company intends to finance the transaction through cash flow from operations and availability under its existing credit facility.

07:15 EDT Hershey agrees to acquire Amplify Snack Brands for $12 per share in cash - Hershey (HSY) and Amplify Snack Brands (BETR) announced that they have entered into a definitive agreement under which Hershey will acquire all outstanding shares of Amplify for $12.00 per share in cash. This strategic acquisition is expected to be accretive to Hershey's financial targets given the growth trajectory and margin structure of Amplify's key products. Amplify's brands compete in many attractive food categories that are capitalizing on fast-growing trends in snacking with a focus on better-for-you products that deliver clean, simple and transparent ingredients as well as unique flavors and forms. Additionally, this combination brings customers a known brand building partner that invests in category management solutions to drive higher levels of conversion and velocity at retail. Under the terms of the agreement between Hershey and Amplify, Hershey has agreed to acquire all of the outstanding shares of Amplify Snack Brands, Inc. for $12.00 per share, in a transaction structured as a tender offer followed by a merger, valued at approximately $1.6B, including net debt and including a make-whole payment of $76M related to the Tax Receivable Agreement, or TRA. Based on previously announced guidance, this represents a multiple of approximately 14.8-times 2017 Adjusted EBITDA including identified annual run-rate synergies of approximately $20M expected to be generated over the next two years from cost savings and portfolio optimization. The transaction will be funded with cash on hand and new debt and is not expected to impact Hershey's current ratings. Hershey expects the transaction to be accretive to adjusted earnings per share-diluted, including transaction related non-cash amortization, in the first-year post closing with accretion increasing in year two. Adjusted earnings per share-diluted accretion in both years is substantially higher when excluding transaction related amortization. The acquisition is not expected to affect the previously announced full year 2017 outlooks provided in Hershey's and Amplify's Q3 earnings release and conference calls. The agreement has been approved by the Boards of Directors of both companies. Affiliates of TA Associates, Amplify's largest stockholder, and key Amplify insiders, who collectively represent approximately 57%3 of the outstanding shares, have agreed to tender their shares in the transaction. The transaction is subject to Amplify's stockholders tendering a majority of Amplify's outstanding shares on a fully diluted basis prior to the expiration of the tender offer, certain regulatory approvals and other customary conditions, and is expected to close in the first quarter of 2018.

07:13 EDT Roadrunner receives filing extensions from NYSE - Roadrunner Transportation Systems announced that it has received filing extensions from the New York Stock Exchange, its asset-based lenders, and its preferred stock holder related to (i) its Form 10-K/A for the year ended December 31, 2015, its Forms 10-Q/A for the quarters ended March 31, 2016, June 30, 2016 and September 30, 2016, and its Form 10-K for the year ended December 31, 2016 and (ii) its Forms 10-Q for the quarters ended March 31, 2017, June 30, 2017 and September 30, 2017. The delay in filing these reports is the result of Roadrunner's previously disclosed financial restatement process. The NYSE extension, which is subject to review by the NYSE on an ongoing basis, gives Roadrunner until April 4, 2018 to be in compliance with its filing requirements. During the extension period, trading of Roadrunner's shares on the NYSE will remain unaffected.

07:13 EDT Can-Fite now sees data release for Namodenoson in 2H18 - Can-Fite BioPharma provided an update on its Phase II clinical trial with drug candidate Namodenoson -- CF102 -- in the treatment of advanced hepatocellular carcinoma. Ongoing close observation of enrolled subjects indicates a potentially favorable drug safety profile. The company previously announced in August that it had successfully completed enrollment of 78 patients. The global Phase II study is being conducted in the U.S., Europe and Israel. Patients with advanced HCC, Child Pugh B, who failed Nexavar as a first line treatment are treated twice daily with 25 mg of oral Namodenoson or placebo using a 2:1 randomization. The primary endpoint of the Phase II study is Overall Survival. Secondary endpoints include Progression Free Survival, safety, and the relationship between outcomes and A3AR expression. Although the trial remains blinded to the company, accumulated safety data to date indicate a potentially favorable drug safety profile without hepatotoxicity and possible positive clinical effects. There are now subjects treated for more than one year and in some cases, two years. To date, 15 subjects have completed at least 12 cycles of treatment of which two completed 24 cycles. The company anticipates data release to occur in 2H2018. Can-Fite received Orphan Drug Designation for Namodenoson in Europe and the U.S., as well as Fast Track Status in the U.S. as a second line treatment for HCC.

07:12 EDT Peoples Financial begins trading on OTCQX - Peoples Financial began trading on the OTCQX Best Market, a premium market operated by OTC Markets Group.

07:11 EDT Allergan COO Rob Stewart to leave company in 2018 - Allergan announced that Wayne Swanton has been promoted to Executive Vice President, Global Operations following notification that Rob Stewart, Executive Vice President and COO, intends to leave Allergan to become President and CEO of Amneal Pharmaceuticals in 2018. Wayne Swanton will join Allergan's Executive Leadership Team and maintain responsibility for Global Manufacturing, Quality, Supply Chain, Procurement, Pharmaceutical Technology, Operational Excellence, Engineering, Environmental Health & Safety and Security.

07:11 EDT RXi Pharma says Phase 2 trial of RXI-109 meets primary effectiveness objective - RXi Pharmaceuticals announced results with its lead clinical compound RXI-109 in a Phase 2 clinical trial. RXI-109-1402 is an open-label, multi-center, prospective, within-subject controlled study evaluating the effectiveness and safety of RXI-109 on the outcome of scar revision surgery for hypertrophic scars in healthy adults. The primary effectiveness objective was met as shown by a statistically significant improved visual appearance of revised scars after scar revision surgery and treatment with RXI-109 versus control, as assessed by the investigator. The full study results show that the product was safe and well tolerated for all dosage groups. Exploratory endpoint analysis furthermore shows that the cosmetic outcomes of RXI-109 treated scars were highly preferred over the untreated revised scars, by both investigators and patients. RXi's Chief Development Officer, Gerrit Dispersyn, Dr. Med. Sc., commented: "These results are very exciting, as they provide us with strong evidence that RXI-109, by preventing the overexpression of connective tissue growth factor, can result in a positive impact on the prevention of hypertrophic scars. The robustness of the data is shown by the fact that the effect of RXI-109 was significant by using both validated detailed scoring techniques, as well as simple qualitative assessments, and by the investigator driven data being further corroborated by an analysis of patient preferences. The fact that RXI-109 resulted in statistically significant improvements on scar outcomes at all follow-up time points for one of the dose groups, show that the effect of RXI-109 is both observed early on, and lasts at least throughout the entire follow-up time frame. In this study, we collected a lot of information that will allow us to perform additional analyses. Based on the current per protocol analysis, RXI-109 can be confidently moved to the next phase of clinical development."

07:09 EDT RXi Pharmaceuticals reports Phase 2 trial of RXI-109 meets primary effectiveness - RXi Pharmaceuticals announced results with its lead clinical compound RXI-109 in a Phase 2 clinical trial. RXI-109-1402 is an open-label, multi-center, prospective, within-subject controlled study evaluating the effectiveness and safety of RXI-109 on the outcome of scar revision surgery for hypertrophic scars in healthy adults. The primary effectiveness objective was met as shown by a statistically significant improved visual appearance of revised scars after scar revision surgery and treatment with RXI-109 versus control, as assessed by the investigator. The full study results show that the product was safe and well tolerated for all dosage groups. Exploratory endpoint analysis furthermore shows that the cosmetic outcomes of RXI-109 treated scars were highly preferred over the untreated revised scars, by both investigators and patients. RXi's Chief Development Officer, Gerrit Dispersyn, Dr. Med. Sc., commented: "These results are very exciting, as they provide us with strong evidence that RXI-109, by preventing the overexpression of connective tissue growth factor, can result in a positive impact on the prevention of hypertrophic scars. The robustness of the data is shown by the fact that the effect of RXI-109 was significant by using both validated detailed scoring techniques, as well as simple qualitative assessments, and by the investigator driven data being further corroborated by an analysis of patient preferences. The fact that RXI-109 resulted in statistically significant improvements on scar outcomes at all follow-up time points for one of the dose groups, show that the effect of RXI-109 is both observed early on, and lasts at least throughout the entire follow-up time frame. In this study, we collected a lot of information that will allow us to perform additional analyses. Based on the current per protocol analysis, RXI-109 can be confidently moved to the next phase of clinical development."

07:09 EDT Strata Skin Sciences announces exploration of strategic alternatives - STRATA Skin Sciences announced that its board has entered a process to explore and review strategic alternatives focused on enhancing stockholder value, which may include a sale of the company or other transaction, and is in the process of engaging a financial adviser. The board and management team are focused on enhancing stockholder value and are committed to pursuing the right course of action for all stockholders. While the board conducts its review, the entire STRATA team continue to work diligently to improve operations and profitability. The board has not set a timetable for this process nor has it made any decisions related to any specific strategic alternatives at this time. There can be no assurance that the exploration of strategic alternatives will result in a transaction. STRATA does not intend to provide any updates unless or until it determines that further disclosure is appropriate or necessary.

07:08 EDT Penn National to sell certain gaming operations to Boyd Gaming for $575M - In connection with the transaction, Penn National (PENN) has entered into a definitive agreement with Boyd (BYD) in which Boyd will purchase Pinnacle's gaming operations at Ameristar Kansas City and Ameristar St. Charles in Missouri; Belterra Casino Resort in Indiana; and Belterra Park in Ohio, for approximately $575 million in cash. These divestitures are anticipated to occur immediately prior to, and are conditioned upon, the completion of the Pinnacle acquisition. Gaming and Leisure Properties (GLPI), the landlord for Penn National and Pinnacle under their respective master lease agreements, has entered into an agreement to amend the terms of the Pinnacle master lease to permit the divestitures. In connection with the transaction, Penn National, GLPI and Boyd have agreed to the following: Penn National and GLPI will enter into a sale and leaseback of the real estate associated with Belterra Park and Plainridge Park Casino for approximately $315 million. An amendment to the terms of the Pinnacle master lease following closing of the merger to reflect an annual fixed rent payment of $25 million for Plainridge Park Casino and $13.9 million in incremental annual rent to adjust to market conditions. At closing, GLPI and Boyd will enter into a master lease agreement for the divestitures pursuant to which Boyd will lease the divested real property from GLPI -- including the real property underlying Belterra Park. Penn National will assume the existing master lease and Pinnacle's existing lease for the Meadows Casino and Racetrack in Pennsylvania. Penn National's master lease with GLPI will not be affected by this transaction.

07:06 EDT Penn National to acquire Pinnacle Entertainment in deal valued at $2.8B - Penn National Gaming (PENN) and Pinnacle Entertainment (PNK) announced that they have entered into a definitive agreement under which Penn National will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8B. Under the terms of the agreement, Pinnacle shareholders will receive $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share, which implies a total purchase price of $32.47 per Pinnacle share based on Penn National's closing price on December 15, 2017. The transaction reflects a 36% premium for Pinnacle shareholders based on Pinnacle's closing price of $21.86 and Penn National's closing price of $22.91 on October 4, 2017. The transaction has been approved by the boards of directors of both companies and is expected to close in the second half of 2018. Following the acquisition of Pinnacle and the planned divestiture of four of its properties to Boyd Gaming Corporation (BYD), Penn National will have significantly greater operational and geographic diversity and operate a combined 41 properties in 20 jurisdictions throughout North America. The transaction is expected to generate $100 million in annual run-rate cost synergies following integration and is anticipated to be immediately accretive to free cash flow in the first year. Pro forma for the divestitures and synergies, the acquisition reflects a multiple of 6.6x LTM EBITDA. Penn National expects the acquisition of Pinnacle to be immediately accretive to free cash flow per share in the first year. The strong free cash flow generation from the combined companies will enhance Penn National's ability to de-lever its balance sheet, pursue strategic opportunities and ultimately return capital to shareholders. Penn National has received committed financing for the transaction, subject to customary conditions, from BofA Merrill Lynch and Goldman Sachs Bank USA, and expects to fund the acquisition with a combination of the proceeds from the Boyd and GLPI transactions, existing cash on its balance sheet and new debt financing. Penn National anticipates that the additional cash flow resulting from the acquisition will allow it to pay down debt on an accelerated basis after closing. The transaction is subject to approval of the shareholders of Penn National and Pinnacle, the approval of applicable gaming authorities, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act and other customary closing conditions. The companies expect the transaction to close in the second half of 2018. Upon completion of the transaction Penn National and Pinnacle shareholders will hold 78 percent and 22 percent, respectively, of the combined company's outstanding shares.

07:05 EDT Penn National to acquire Pinnacle Entertainment in deal valued at $2.8B - Penn National Gaming (PENN) and Pinnacle Entertainment (PNK) announced that they have entered into a definitive agreement under which Penn National will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8B. Under the terms of the agreement, Pinnacle shareholders will receive $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share, which implies a total purchase price of $32.47 per Pinnacle share based on Penn National's closing price on December 15, 2017. The transaction reflects a 36% premium for Pinnacle shareholders based on Pinnacle's closing price of $21.86 and Penn National's closing price of $22.91 on October 4, 2017. The transaction has been approved by the boards of directors of both companies and is expected to close in the second half of 2018. Pinnacle owns and operates 16 gaming and entertainment facilities in 11 jurisdictions across the United States. Following the acquisition of Pinnacle and the planned divestiture of four of its properties to Boyd Gaming (BYD) , Penn National will have significantly greater operational and geographic diversity and operate a combined 41 properties in 20 jurisdictions throughout North America. The transaction is expected to generate $100M in annual run-rate cost synergies following integration and is anticipated to be immediately accretive to free cash flow in the first year. Pro forma for the divestitures and synergies, the acquisition reflects a multiple of 6.6x LTM EBITDA. Gaming and Leisure Properties (GLPI), the landlord for Penn National and Pinnacle under their respective master lease agreements, has entered into an agreement to amend the terms of the Pinnacle master lease to permit the divestitures. In connection with the transaction, Penn National, GLPI and Boyd have agreed to the following: Penn National and GLPI will enter into a sale and leaseback of the real estate associated with Belterra Park and Plainridge Park Casino for approximately $315M. An amendment to the terms of the Pinnacle master lease following closing of the merger to reflect an annual fixed rent payment of $25M for Plainridge Park Casino and $13.9M in incremental annual rent to adjust to market conditions. At closing, GLPI and Boyd will enter into a master lease agreement for the divestitures pursuant to which Boyd will lease the divested real property from GLPI. Penn National will assume the existing master lease and Pinnacle's existing lease for the Meadows Casino and Racetrack in Pennsylvania. Penn National's master lease with GLPI will not be affected by this transaction. The companies expect the transaction to close in the second half of 2018.

07:04 EDT National Health Investors to acquire North Carolina assisted living community - National Health Investors announced it has exercised its purchase option to acquire Spring Arbor of Durham, a 32-unit assisted living and memory care community in Durham, North Carolina. The community was part of a purchase option negotiation with NHI's tenant Navion Senior Solutions, formerly Ravn Senior Solutions, when NHI purchased two communities in North Carolina in February 2017. NHI's investment will include the purchase price of $7,550,000 and up to $650,000 for a 4-unit expansion and capital improvements to the existing building. The community will be added to an existing master lease with nearly 14 years remaining at a blended yield of 7.15% with annual escalators and two 5-year renewal options. NHI purchased the community with a draw on its revolving credit facility.

07:01 EDT Mattel prices $1B of senior notes due 2025 - Mattel late Friday announced that it has priced the previously announced offering of $1B aggregate principal amount of 6.75% senior notes due 2025. The closing of the offering is expected to occur on December 20. The notes will be guaranteed on a senior unsecured basis by all of the company's existing and future wholly owned domestic restricted subsidiaries that will be borrowers or guarantors under its new senior secured revolving credit facilities, which are expected to close concurrently with or prior to the issuance of the notes. The company intends to use the net proceeds from the sale of the notes, plus cash on hand, to repay all of its 1.700% senior notes due 2018 upon or before maturity, repay all outstanding borrowings related to its commercial paper program, satisfy all outstanding obligations under and terminate the commitments under its existing revolving credit facility and pay related transaction fees and expenses.

07:01 EDT Concert Pharmaceuticals names Marc Becker as CFO, effective January 4 - Concert Pharmaceuticals (CNCE) announced the appointment of Marc Becker as CFO, effective January 4, 2018. Prior to joining Concert, he was SVP and CFO at CRISPR Therapeutics (CRSP) from February 2016 to September 2017.

07:00 EDT Bristol-Myers announces positive CHMP opinion for Yervoy - Bristol-Myers Squibb announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency has recommended the approval of Yervoy for pediatric patients 12 years of age and older who have unresectable or metastatic melanoma. The CHMP recommendation will now be reviewed by the European Commission, which has the authority to approve medicines for the European Union.

06:58 EDT Penn National trading halted, news pending

06:57 EDT Amplify Snack Brands trading halted, news pending

06:47 EDT Crown Crafts' Hamco acquires Sassy in $6.5M deal - Hamco, a wholly owned subsidiary of Crown Crafts, announced the acquisition of the Sassy-branded developmental toy, feeding and baby care product line of Sassy 14. At closing, which was effective after the close of business on Friday, December 15, 2017, the Company paid a preliminary purchase price of $6.5M for the inventory, intellectual property and certain other assets associated with the Sassy product line and assumed certain related liabilities. The final purchase price, which will be funded from a combination of cash on hand and the Company's existing revolving credit facility, is subject to adjustment pending the completion of the final inventory valuation. The acquisition is expected to contribute approximately $11M in net sales annually and to be immediately accretive to earnings. The Company plans to immediately integrate the sourcing and sales of the Sassy product line into the Company's facility in Gonzales, Louisiana, while maintaining a product development office in Grand Rapids, Michigan. Through the end of fiscal year 2018, distribution will be provided by a third-party facility in Grand Rapids, where the inventory is currently located. In the first quarter of fiscal year 2019, the Company anticipates a cost of approximately $200,000 to move the remaining inventory to Compton, California, at which time distribution will be integrated into the Company's facility there.

06:35 EDT Achillion announces ACH-4471 granted orphan drug designation by FDA - Achillion Pharmaceuticals announced the U.S. FDA has granted orphan drug designation to ACH-4471 for the treatment of patients with C3 Glomerulopathy. C3G is a devastating renal disease for which there is no approved therapy. There are estimated to be approximately 4,000 C3G patients in the United States, approximately 4,000 in Europe, and more than 1,000 patients with this devastating disease in Japan. Additionally, Achillion announced the initiation of bioavailability study of extended release formulations of ACH-4471 in healthy volunteers. The extended release oral tablet formulations may have the potential to achieve once or twice daily dosing in patients.

06:33 EDT Ares Management names Michael McFerran as COO, effective January 1, 2018 - CFO Michael McFerran has also been appointed as Ares' COO in addition to continuing to serve as Ares' Chief Financial Officer. He will now oversee all of Ares' Finance and Accounting, Information Technology, Operations and Human Resources activities.

06:31 EDT M&T Bank announces passing of chairman and CEO Robert Wilmers - M&T Bank Corporation yesterday announced that Chairman and CEO Robert G. Wilmers died suddenly and unexpectedly at home late Saturday night. He was 83. In accordance with its succession plan, M&T's Board of Directors named lead outside director Robert T. Brady, former Chairman and CEO of Moog, Inc., as M&T's Non-Executive Chairman, effective immediately. M&T's three Vice Chairman, Richard S. Gold, Rene F. Jones and Kevin J. Pearson, maintain responsibility for the bank's day-to-day operations. Wilmers had held both positions since May 1983.

06:25 EDT Google shutting down Tango on March 1, 2018 - Google is shutting down Tango, its ambitious project to reinvent smartphone cameras. Google Tango, which let developers build immersive camera-based apps for Android, will close on March 1, 2018. "Thank you to our incredible community of developers who made such progress with Tango over the last three years. We look forward to continuing the journey with you on ARCore," Tango tweeted. Reference Link

06:11 EDT TransEnterix announces global SurgiBot system agreement - TransEnterix announced that the company has entered into an agreement with Great Belief International Limited, to advance the SurgiBot System towards global commercialization. The SurgiBot System is the single-port, robotically enhanced laparoscopic surgical platform developed by TransEnterix. This agreement transfers ownership of the SurgiBot System assets, while the Company retains the option to distribute or co-distribute the SurgiBot System outside of China. Upon completion of the transfer of all SurgiBot System assets, GBIL will have the System manufactured in China and obtain Chinese regulatory clearance from the China Food and Drug Administration, while entering into a nationwide distribution agreement with China National Scientific and Instruments and Materials Company for the Chinese market. Being the largest medical device distribution company in China, CSIMC will help GBIL maximize the commercial potential of the SurgiBot System in the Chinese market, and optimize post-sale services to Chinese hospitals. The Company retains the right to commercialize the SurgiBot System outside of China after manufacturing has been established and the necessary regulatory approvals have been obtained. The agreement provides the Company with proceeds of at least $29M, of which $7.5M is expected to be received by the end of December 2017 and $7.5M is expected to be received by March 31, 2018, which includes a $3M equity investment in TransEnterix common stock at $2.33 per share, a 10% premium to the closing price on the date which the agreement was executed. The remaining $14M, representing minimum royalties, will be paid beginning on the earlier of receipt of Chinese regulatory approval or five years.

06:09 EDT Gran Tierra announces 2018 capital budget of $250M-$270M - Highlights: Gran Tierra expects 2018 average production of 36,500 to 38,500 barrels of oil equivalent per day, representing organic growth of 20 to 27% over 2017 year to date average production and an increase of 39% to 47% over 2016 average production. Gran Tierra's production guidance includes only forecasted volumes from existing operations and expected development projects and no volumes are assumed for any exploration success. 2018 capital budget of $250M-270M. 2018 cash from operating activities forecast of $265M-285M at $57/barrel Brent oil price. Gran Tierra has significant control and flexibility on capital allocation and timing as the company operates over 90% of its production, 15 out of its 16 blocks in the Putumayo Basin3 and 4 out of its 4 blocks in the Middle Magdalena Valley Basin. With the company's operated, low cost, high netback, and low decline asset base, Gran Tierra's focus is on organic production growth and drilling 30 to 35 exploration wells over the next three to five years, all expected to be funded from expected cash from operating activities. Based on current evaluations of the Company's portfolio of exploration and development opportunities, Gran Tierra anticipates average annual production growth of 12% to 20% in 2019 over forecasted average annual production for 2018. If oil prices meaningfully exceed Gran Tierra's 2018 forecast, the resulting increase in cash from operating activities may be directed to accelerated capital spending, the repayment of debt or share buybacks under our previously announced Normal Course Issuer Bid; alternatively, if oil prices drop materially below the company's forecast, Gran Tierra has the ability to moderate the rate of spending accordingly due to the company's high operated interest across the asset portfolio.

06:06 EDT BeiGene initiates pivotal trial of PARP inhibitor pamiparib in China - BeiGene announced that the first patient was dosed in a pivotal Phase 2 clinical trial of pamiparib (BGB-290), an investigational PARP inhibitor, in Chinese patients with advanced ovarian cancer.

06:03 EDT Northern Dynasty enters framework agreement with First Quantum Minerals - Northern Dynasty Minerals announced that it has entered into a framework agreement with First Quantum Minerals which contemplates that an affiliate of First Quantum will subsequently execute an option agreement with Northern Dynasty. The option agreement contemplates an option payment of $150M staged over four years which option will entitle First Quantum to acquire the right to earn a 50% interest in the Pebble Limited Partnership for $1.35B. The option period may be extended for up to 2 years by First Quantum making payments to be agreed upon which amounts will be offset against the $1.35B additional investment amount. Within five business days of the execution of the framework agreement, First Quantum will make an early option payment of $37.5M to Northern Dynasty. The Early Option Price Installment will be applied solely for the purpose of progressing the permitting of the Pebble Project. The entry by First Quantum into the option agreement is contingent upon the completion of due diligence, necessary regulatory approvals being obtained and the successful negotiation of the final form of the option agreement and associated commercial agreements. Finalization and execution of the option agreement and associated commercial agreements is expected early in the second quarter of 2018. Investors are cautioned there is no assurance that a transaction will be entered into at the end of the process.

06:03 EDT Lockheed, Aerion join forces to develop supersonic business jet - Aerion and Lockheed Martin (LMT) on Friday announced a Memorandum of Understanding to define a formal and gated process to explore the feasibility of a joint development of the world's first supersonic business jet, the Aerion AS2. Over the next 12 months, the companies will work together to develop a framework on all phases of the program, including engineering, certification and production. The MOU is the result of extensive discussions between Aerion and Lockheed Martin's Skunk Works Advanced Development Programs team. In May 2017, GE Aviation (GE) announced an agreement with Aerion to define a supersonic engine for the AS2. The latest announcement with Lockheed Martin further positions Aerion as the leader in the nascent sector of civil supersonic aviation.

05:59 EDT Toyota aims for sales of over 5.5M electrified vehicles by 2030 - Toyota (TM) announces its plans toward the popularization of electrified vehicles for the decade 2020-2030. Toyota's electrified vehicle strategy centers on a significant acceleration in the development and launch plans of hybrid electric vehicles, plug-in hybrid electric vehicles, battery electric vehicles, and fuel cell electric vehicles. By around 2030, Toyota aims to have sales of more than 5.5 million electrified vehicles, including more than 1 million zero-emission vehicles -- BEVs and FCEVs. Additionally, by around 2025, every model in the Toyota and Lexus line-up around the world will be available either as a dedicated electrified model or have an electrified option. This will be achieved by increasing the number of dedicated HEV, PHEV, BEV, and FCEV models and by generalizing the availability of HEV, PHEV and/or BEV options to all its models. As a result, the number of models developed without an electrified version will be zero. Toyota will accelerate the popularization of BEVs with more than 10 BEV models to be available worldwide by the early 2020s, starting in China, before entering other markets -- the gradual introduction to Japan, India, United States and Europe is expected. The FCEV line-up will be expanded for both passenger and commercial vehicles in the 2020s. The HEV line-up will also grow, thanks to the further development of the Toyota Hybrid System II; the introduction of a more powerful version in some models; and the development of simpler hybrid systems in select models, as appropriate, to meet various customer needs.Toyota also aims to expand its PHEV line-up in the 2020s. Toyota has been actively developing next-generation solid-state batteries and aims to commercialize the technology by the early 2020s. In addition, Toyota and Panasonic (PCRFY) will start a feasibility study on a joint automotive prismatic battery business in order to achieve the best automotive prismatic battery in the industry and to ultimately contribute to the popularization of Toyota's and other automakers' electrified vehicles. Furthermore, Toyota aims to focus on the development of a social infrastructure conducive to the widespread adoption of electrified vehicles. This includes the creation of a system to help streamline battery reuse and recycling, as well as support of the promotion of plug-in vehicle charging stations and hydrogen refueling stations through active cooperation and collaboration with government authorities and partner companies.

05:34 EDT 500.com announces resignation of CFO Min Yu - 500.com announced that Min Yu has resigned as CFO of the company, effective December 18, to pursue other opportunities. Yu's duties will be assumed by Qiang Yuan, senior vice president of the company.

05:32 EDT Accenture selected by the Vatican to design, deliver Vatican News - Accenture announced that the Ministry of Communications of the Vatican has appointed Accenture Interactive to help design and deliver its new communications system called Vatican News. The move is part of the Vatican reform aimed at finding new ways to communicate with and engage all people in today's digital world. The objectives include the design of the Vatican News, which will help people find and interact with desired information more easily; the creation of one multi-language editorial team able to work with a multimedia, multi-device and multi-cultural approach; and a content strategy that allows for efficient content management and distribution.

05:29 EDT Navigators to acquire ASCO and BDM for EUR 35M in cash - Navigators announced that it has entered into a share purchase agreement for the purchase of all of the shares of Assurances Continentales - Continentale Verzekeringen, or ASCO, and Bracht, Deckers & Mackelbert, or BDM. ASCO and BDM are both based in Antwerp, Belgium. The proposed acquisition is part of Navigators' strategy of expanding its well-established specialty insurance expertise to more brokers and insureds across Europe. ASCO is a specialty insurance company offering marine and property and casualty insurance. BDM is an insurance underwriting agency that underwrites risk coverage in niche markets on behalf of ASCO and a number of major international insurers. Additionally, as part of the transaction, Navigators will acquire all the shares of Canal Re SA, a Luxembourg reinsurance company that is a wholly-owned subsidiary of ASCO. The acquisition reinforces Navigators' presence in the European Union's single market, enabling Navigators to best serve its European clients after Brexit, and also provides opportunity for BDM and ASCO to take their well-established expertise to a wider European audience. As aggregate consideration for the acquisition of ASCO and BDM, Navigators will pay EUR 35M in cash at the closing of the transaction. The transaction is subject to the satisfaction or waiver of customary closing conditions, including among other things, the receipt of regulatory approval, and is anticipated to close in the first half of 2018.

05:24 EDT Tencent, JD.com, Vipshop announce investment, business cooperation - Tencent Holdings (TCEHY), JD.com (JD), and Vipshop (VIPS) jointly announced that Tencent and JD.com have entered into definitive agreements with Vipshop, such that Tencent and JD.com will invest an aggregate amount of approximately $863M in cash in Vipshop at the closing of the transaction. Pursuant to the share subscription agreement, Tencent and JD.com will subscribe for newly issued Class A ordinary shares of Vipshop in the amount of approximately $604M and approximately $259M, respectively. The purchase price will be $65.40 per Class A ordinary share, which is equivalent to $13.08 per American Depositary Share of Vipshop, five of which represent one Class A ordinary share. The purchase price represents a 55% premium over the closing price of the ADSs as of the last trading day on December 15. The transaction is expected to close in the near future, subject to customary closing conditions. Upon the closing, Tencent and JD.com will beneficially own, taking into account any existing holding, approximately 7% and 5.5%, respectively, of Vipshop's total issued shares. The Class A ordinary shares issued to Tencent and JD.com will be subject to a two-year lock up restriction. Tencent and JD.com will have the right to appoint a director and an observer, respectively, to Vipshop's board of directors during the two-year lockup period. After the end of the lock-up period, for so long as Tencent and JD.com hold approximately 12% and 8%, respectively, of Vipshop's total issued shares, or otherwise by mutual agreement with Vipshop, they will maintain director and board observer rights. Concurrently with the entry of the share subscription agreement, Tencent and JD.com have entered into business cooperation agreements with Vipshop, effective upon closing, establishing a cooperative relationship among Tencent, JD.com and Vipshop. Under these agreements, Tencent will grant Vipshop an entry on the interface of Weixin Wallet enabling Vipshop to utilize traffic from Tencent's Weixin platform, and JD.com will grant Vipshop entries on both the main page of JD.com's mobile application and the main page of its Weixin Discovery shopping entry, and will assist Vipshop in achieving certain GMV targets through JD.com's platform.