Stockwinners Market Radar for January 17, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:24 EDT Intel says issued firmware updates for 90% of CPUs in past vie years - Intel said it has made made further progress to address the exploits known as "Spectre" and "Meltdown." "We have now issued firmware updates for 90 percent of Intel CPUs introduced in the past five years, but we have more work to do," Intel's Navin Shenoy said. "As I noted in my blog post last week, while the firmware updates are effective at mitigating exposure to the security issues, customers have reported more frequent reboots on firmware updated systems. As part of this, we have determined that similar behavior occurs on other products in some configurations, including Ivy Bridge-, Sandy Bridge-, Skylake-, and Kaby Lake-based platforms. We have reproduced these issues internally and are making progress toward identifying the root cause. In parallel, we will be providing beta microcode to vendors for validation by next week." Navoy added that testing results on the data center side show performance impact that ranges depending on specific workloads and configurations. Generally speaking, the workloads that incorporate a larger number of user/kernel privilege changes and spend a significant amount of time in privileged mode will be more adversely impacted. Reference Link

18:31 EDT Trump says Apple investments 'huge win for American workers' - President Donald Trump tweeted in response to Apple's announcement of its upcoming investment plans, saying, "I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA!" Reference Link

18:17 EDT Walter Investment prepackaged Chapter 11 plan approved by court - Walter Investment Management announced that the United States Bankruptcy Court for the Southern District of New York has approved the company's prepackaged financial restructuring plan. The company expects to emerge from Chapter 11 by no later than January 31, 2018, after the conditions to the Prepackaged Plan are satisfied, and the company is on track to complete its financial restructuring in the first quarter of 2018. As previously announced, the company's comprehensive financial restructuring plan is expected to reduce the company's outstanding corporate debt by approximately $800M and create enhanced financial flexibility. Walter's operating entities, including Ditech Financial LLC and Reverse Mortgage Solutions, Inc., are continuing to operate in the ordinary course.

17:46 EDT Guidewire director sells 6,000 common shares - In a regulatory filing, Guidewire Software director Paul Lavin disclosed the sale of 6,000 common shares of the company at a price of $77.1881 per share.

17:33 EDT Sanchez Energy sees Q1 production 82K-84K BoE/d

17:32 EDT Nintendo announces Nintendo Labo accessories for Switch consoles - Nintendo introduced Nintendo Labo, a new line of interactive build-and-play experiences. Together with the Nintendo Switch system, the Nintendo Labo kits provide the tools and technology to "make fun DIY creations, play games with your creations and discover how the magic of Nintendo Switch technology shapes ideas into reality." With each Nintendo Labo kit, kids can transform modular sheets of cardboard - specially designed to interact with the Nintendo Switch console and Joy-Con controllers - into creations called Toy-Con. From a piano to a motorbike, a robot and more, each Toy-Con comes to life when combined with Nintendo Switch in different ways. Nintendo Labo launches on April 20 with two kits: the Variety Kit and the Robot Kit. With the Variety Kit, you can create many different Toy-Con, including two Toy-Con RC Cars, a Toy-Con Fishing Rod, a Toy-Con House, a Toy-Con Motorbike and a Toy-Con Piano. With the Robot Kit, you can build an interactive robot suit with a visor, backpack and straps for your hands and feet, which you can then wear to assume control of a giant in-game robot. Both kits include everything you need to assemble your Toy-Con creations, including the building materials and relevant Nintendo Switch software. The Variety Kit will be available at a suggested retail price of $69.99, and the Robot Kit will be available at a suggested retail price of $79.99. A special Customization Set that includes fun stencils, stickers and colored tape will also be available to purchase on April 20 at a suggested retail price of $9.99.

17:17 EDT Discovery Capital reduces stake in Peabody Energy to 4.4% from 5.7%

17:05 EDT Johnson & Johnson issues statement on ZYTIGA Inter Partes reviews - Johnson & Johnson issued the following statement regarding today's Inter Partes Reviews regarding ZYTIGA: "We are disappointed in and strongly disagree with the U.S. Patent and Trademark Office's decisions relating to ZYTIGA as part of the Inter Partes Reviews. We are evaluating our options with respect to a request for rehearing and/or appeal to the Court of Appeals for the Federal Circuit. We believe the '438 patent is valid and will continue to vigorously defend it." Inter Partes Review decisions by the USPTO do not result in termination of a 30-month stay triggered under the Hatch-Waxman Act by the timely filing of a patent infringement lawsuit against a generic ANDA applicant.

17:02 EDT Hudbay Minerals sees FY18 CapEx $245M - Hudbay Minerals released its production and operating cost guidance along with its capital and exploration expenditure forecasts for 2018 and announced the entering into of new three-year collective bargaining agreements in Peru and Manitoba. All amounts are in US dollars, unless otherwise noted: On a consolidated basis, Hudbay's copper production exceeded 2017 guidance and production of zinc and precious metals were within 2017 guidance range; Production results were achieved with strong safety performance, including zero lost time accidents at the Constancia mine in 2017; Three-year collective bargaining agreements have been entered into with Hudbay's unionized workforces at each of its Manitoba and Peru operations, providing labour stability; Production of copper contained in concentrate in 2018 is forecast to decrease by approximately 15% compared to 2017 production, as the Constancia mine shifts to the lower-grade hypogene ore in the main pit, in line with the mine plan, and the Reed mine closes; Production of zinc contained in concentrate in 2018 is forecast to decrease by approximately 13% compared to 2017 production, as zinc grades at Lalor and 777 are lower, in line with the respective mine plans; Production of precious metals contained in concentrate in 2018 is forecast to increase by approximately 31% compared to 2017 production, primarily due to a planned increase in precious metals production from the Lalor mine in Manitoba and the expected start of mining at the Pampacancha deposit in Peru; Exploration budget of $50M, focused on exploration near existing processing infrastructure in Manitoba and Peru, as well as grassroots exploration properties in Chile and British Columbia; Sustaining capital expenditures are expected to be $135M, a decrease of approximately 27% from the previous year, as a major raise of the Constancia tailings management facility was successfully completed in 2017.

16:55 EDT Motorola Solutions reports 9.8% passive stake in ShotSpotter - In a regulatory filing, Motorola Solutions (MSI) disclosed a 9.8% stake in ShotSpotter (SSTI), representing 949,779 shares. The filing does not allow for activism.

16:43 EDT Verizon to record cumulative adjustment to retained earnings during 1Q18 - Verizon said in a regulatory filing that it implemented ASU 2014-09, Revenue from Contracts with Customers, or ASC 606, on January 1, 2018 using the modified retrospective method for open contracts. Upon adoption, the accounting change is applied to the current period with the cumulative adjustment recorded to retained earnings. The prior period results will not be recast to reflect the new standard. The adoption of this new standard will have a significant impact on our 2018 operating results primarily due to the reversing effects from the cumulative adjustment recorded to retained earnings, as well as how the company accounts for new wireless subsidy contracts and future commission costs incurred by Verizon's Wireless and Wireline businesses. "During the first quarter of 2018, we will record a cumulative adjustment to retained earnings which is primarily related to two items: 1) net contract assets arising from our open wireless subsidy contracts, which will be derecognized as a net reduction to future service revenue over the remaining term of the respective contracts and, 2) deferred commission costs, which will be recognized as commission expense as part of selling, general and administrative expense over the period of expected benefit," Verizon said. "For full year 2018, based on currently available information, we estimate the overall impact from the opening balance sheet adjustment and the ongoing impact from new contracts to result in an insignificant change to consolidated revenue. This revenue change is primarily related to an expected decrease in wireless service revenue offset by an expected increase in wireless equipment revenue. Additionally, we estimate a net decrease to operating expenses primarily related to wireless and wireline commission expense. In the aggregate, these items are expected to yield an estimated benefit to full year 2018 consolidated operating income. The accretive benefit to operating income anticipated in 2018 is expected to moderate in 2019 and become insignificant in 2020 as the timing impacts to revenue and commission costs converge."

16:36 EDT Antero Midstream GP provides distribution guidance for 2018 through 2022 - Antero Midstream GP provided distribution guidance of 52c-55c per share in 2018, representing 154%-172% year over year growth vs. 2017 distributions, respectively, including a 20% increase in 2018 guidance as a result of the reduction in federal corporate tax rates to 21%. Reaffirmed distribution growth targets of 63% to 65% in 2019 and 51% to 53% in 2020. Initiated distribution growth targets of 29% to 31% in 2021 and 27% to 29% in 2022.

16:35 EDT Antero Resources sees Q4 net daily gas equivalent production 2,347 MMcfe/d - Preliminary Fourth Quarter 2017 Highlights Include: Average net daily gas equivalent production was 2,347 MMcfe/d, an 18% increase over the prior year quarter. Realized natural gas price before settled commodity derivatives averaged $2.80 per Mcf, a $0.13 negative differential to Nymex, and tighter than fourth quarter guidance of a negative differential of $0.15-$0.20. Realized C3+ NGL price before settled commodity derivatives averaged $39.16 per barrel (71% of WTI), a 55% increase as compared to the fourth quarter of 2016 and a 35% increase sequentially. Fourth quarter stand-alone E&P net income expected to be in the range of $490 to $510 million, with consolidated net income or loss, including noncontrolling interest, of $525 to $560 million. Fourth quarter Stand-alone E&P Adjusted EBITDAX expected to be in the range of $370-$385 million with consolidated Adjusted EBITDAX of $430-$445 million, above the midpoint of previous fourth quarter guidance.

16:33 EDT Antero Midstream Partners provides 2018 and long-term target guidance - Antero Midstream provided distribution growth guidance of 28%-30% in 2018 vs. 2017. Reaffirms 28%-30% annual distribution growth from 2018 to 2020 and initiated distribution growth targets of 20% in each of 2021 and 2022. Reports 2018 CapEx $650M, a decrease of 19% from 2017, including $585M in expansion capital and $65M in maintenance capital funded through cash flow from operations and credit facility borrowings. Net income for 2018 is forecast to be $435M-$480M. Sees 2018 adjusted EBITDA $705M-$755M. Expects to generate Free Cash Flow before distributions in 2018 for the first time since the partnership's inception. Reports a high-graded 5-year organic project inventory of $2.7B, a $500M reduction from the prior year's plan due to expected capital efficiencies from sponsor's new 5-year plan. Antero Midstream expects to fund all 2018 capital expenditures through cash flow from operations and available borrowing capacity within Antero Midstream's existing $1.5B bank credit facility.

16:31 EDT Radian Group updates on capital actions - Radian Group announced that it has taken the following actions in order to leverage its financial flexibility and cost-effectively strengthen the financial position of Radian Guaranty Inc., its principal mortgage insurance subsidiary, under the Private Mortgage Insurer Eligibility Requirements: Radian Guaranty has agreed with its reinsurance providers to increase the cession of business for its first single-premium MI quota share reinsurance arrangement, which was entered into in 2016. The cession of business increased from 35 to 65 percent for single-premium policies with effective dates in 2015 through 2017. This increased cession, which is effective December 31, 2017, has been approved by Fannie Mae and Freddie Mac. As previously announced, the company entered into a second single-premium MI quota share reinsurance arrangement in October 2017, with 65% cession on single-premium policies with effective dates in 2018 and 2019. This reinsurance arrangement has also been approved by the GSEs. These actions are consistent with the company's continued focus on effectively managing its capital position in a cost-efficient manner, improving its return on capital and proactively managing the retained mix of single-premium business in its total MI portfolio.

16:23 EDT MRC Global renews PVF distribution framework agreement with DCP Midstream - MRC Global (MRC) subsidiary MRC Global (US) has renewed a five year contract to supply pipe, valve and fitting products and services to DCP Midstream (DCP). The five-year contract includes both maintenance, repair and operations and project work.

16:21 EDT Neothetics closes merger with Evofem - Neothetics closed the previously announced merger with Evofem Biosciences. The merged company will operate as Evofem Biosciences and will focus on the continued development and commercialization of women's healthcare products. The company will be led by the current Evofem management team under the leadership of CEO Saundra Pelletier. The stock will trade on the Nasdaq Capital Market beginning on Thursday, January 18, under the ticker symbol "EVFM" and was assigned a new CUSIP number 30048L 104. Immediately following the completion of the merger, an existing investor of Evofem, Invesco Asset Management Limited, as agent for and on behalf of its discretionary managed clients, purchased shares of common stock in the merged company for an aggregate purchase price of $20M. The total cash balance available to the merged company upon closing of these transactions is approximately $18M. As a result of the closing of the merger and the financing, the former Evofem stockholders own approximately 87% of the outstanding common stock of the merged company and the former Neothetics stockholders own approximately 13% of the outstanding common stock of the merged company. In addition, immediately prior to the merger on January 17, the company effected a 6:1 reverse stock split of shares of its common stock. Shares of the company's common stock will also begin trading on a post-split basis on the Nasdaq Capital Market beginning on Thursday, January 18.

16:19 EDT ProAssurance promotes Edward Rand to COO - ProAssurance announced that it has promoted Edward "Ned" Rand, Jr. to COO. In this newly created position, Rand will be responsible for the day-to-day operations of ProAssurance, reporting directly to Stan Starnes, Chairman and CEO. Rand has served for 13 years as the CFO for ProAssurance and he will continue in that role for the near future.

16:19 EDT Alcoa down 5.1% after Q4 results miss estimates

16:16 EDT National Health Investors acquires Texas nursing facility for $14.4M - National Health Investors announced that it has acquired a 121-bed skilled nursing facility in Waxahachie, Texas for $14,400,000 and will lease the facility to an affiliate of The Ensign Group, Inc. The acquisition is the second of four that NHI had previously committed to and will be added to the existing lease at an initial rate of 8.2% plus annual lease escalators based on inflation. The facility, which opened in November 2016, joins the current Ensign assets comprised of 16 skilled nursing facilities located in Texas. The acquisition was funded by NHI's revolving credit facility.

16:13 EDT Alcoa recorded $22M charge in Q4 after tax reform - In fourth quarter 2017, Alcoa recorded a charge of $22M in its income tax provision due to the remeasurement of its deferred income tax positions at the new corporate income tax rate of 21%. Furthermore, Alcoa has completed an analysis determining its best estimate of the impact of the remaining tax reform provisions, which did not result in any additional impact to the company's 2017 financial results. The company continues to finalize its analyses of the tax reform provisions in 2018, but it is not expected to have a material impact on the financial results.

16:12 EDT Amgen: JOCO publishes 'positive' OS findings from Phase 3 ASPIRE trial - Amgen announced that the Journal of Clinical Oncology published positive overall survival findings from the final analysis of the Phase 3 ASPIRE trial, which demonstrated that the addition of KYPROLIS to lenalidomide and dexamethasone reduced the risk of death by 21 percent versus lenalidomide and dexamethasone alone and extended OS by 7.9 months in patients with relapsed or refractory multiple myeloma (median OS 48.3 months for KRd versus 40.4 months for Rd, HR = 0.79, 95 percent CI, 0.67 - 0.95; 1-sided p=0.0045). Notably, an OS improvement of 11.4 months was observed for patients at first relapse (47.3 versus 35.9 months [HR = 0.81, 95 percent CI, 0.62 - 1.06]), supporting early use of KRd. "Results from the final analysis of the Phase 3 ASPIRE trial published today in the Journal of Clinical Oncology are significant, as they further validate carfilzomib, lenalidomide and dexamethasone as a standard of care regimen for patients with relapsed or refractory multiple myeloma," said Keith Stewart, M.B., Ch.B., Mayo Clinic in Arizona and principal investigator of the ASPIRE trial. "Furthermore, these data showed that early use of carfilzomib, lenalidomide and dexamethasone at first relapse provided nearly one additional year of survival for patients regardless of prior treatment with bortezomib or transplant."

16:09 EDT SEACOR Marine Holdings announces JV with affiliates of Cosco Shipping Group - SEACOR Marine Holdings announced the final formation of SEACOSCO Offshore LLC, a jointly owned Marshall Islands company with affiliates of COSCO SHIPPING GROUP, the world's largest ship owner. SEACOSCO entered into contracts for the purchase of eight Rolls-Royce designed new construction platform supply vessels from COSCO SHIPPING HEAVY INDUSTRY CO., LTD. Six of the PSVs are of UT 771WP design and two are of UT 771CD design. SEACOSCO will take title to seven of the PSVs in 2018 and one in 2019. Thereafter, the Shipyard, at their cost, will store the PSVs at their facility for periods ranging from six to 18 months. The storage period can be shortened by mutual agreement.

16:07 EDT Mistras sees consolidated revenue up in 2018 on net basis - The Company expects revenues for this specific customer within its Challenged Region to be reduced by approximately $40 million in 2018. However, the Company further expects that its consolidated revenues will increase on a net basis in 2018, inclusive of this reduction. The Company expects it will achieve double digit increases in revenues in its International and Products and Systems segments, as well as in its Services segment, exclusive of the Challenged Region.

16:05 EDT Mistras says key customer to discontinue using company's services in Q218 - The company has previously reported results for its Services segment both inclusive and exclusive of results pertaining to a previously identified challenged region which is dominated by a large customer contract. The company was recently notified that its large customer within the Challenged Region plans to discontinue using the company's services in Q2 of 2018, despite the company's solid execution for this customer in 2017 as well as over the life of the contract.

16:02 EDT OpGen announces execution of 1-for-25 reverse stock split - OpGen announced that it will implement a 1-for-25 reverse stock split of its common stock. The company filed an amendment to its Certificate of Incorporation to effect the reverse stock split on January 17. The company expects that the company's common stock will trade on a split-adjusted basis under the symbol "OPGN" at the beginning of trading on January 19, and the warrants to purchase common stock issued as part of the company's initial public offering will trade on a split-adjusted basis under the symbol "OPGNW" at the beginning of trading on January 19.

15:58 EDT Royce reports 5.47% passive stake in Ames National Corp - This stake does not allow for activism.

15:36 EDT Phillips 66 Partners raises quarterly cash distribution 5% to 67.8c per unit - Phillips 66 Partners announces that the board of directors of its general partner declared a fourth-quarter 2017 cash distribution of 67.8c per common unit. This quarter's distribution represents an increase of 5% over the previous quarterly distribution of 64.6c per unit and a 22% increase over fourth-quarter 2016. The distribution increase is consistent with previous guidance that the partnership expects a 30% compound annual distribution growth rate from the last quarter of 2013 through 2018. This is the seventeenth consecutive quarterly distribution increase since Phillips 66 Partners' initial public offering in 2013. The fourth-quarter distribution is payable Feb. 13 to unitholders of record as of Jan. 31.

15:08 EDT Cinedigm, Insurrection Entertainment announce North American distribution deal - Cinedigm announced a North American distribution deal with Insurrection Entertainment, the newly formed production company founded by industry veterans, Richard Brandes and Chris Nassif. As part of the multi-year pact, Insurrection will develop and produce a slate of new pictures across high-performing, commercial genres including family/holiday, action, thriller and western. Cinedigm will oversee theatrical, home video, television and digital distribution for the pictures. The first anticipated picture under the deal will be the family-friendly holiday comedy, RAMBO SAVES CHRISTMAS, written and to be directed by Brandes, about a stray dog-turned-hero who defends a family's home against two bungling burglars. Insurrection intends to start production on the picture this month in time for a holiday 2018 release by Cinedigm.

14:35 EDT Deason reports 6% stake in Xerox, demands disclosure of JV pact with Fujifilm - In a regulatory filing, Darwin Deason reported a 6% activist stake in Xerox (XRX), saying he acquired the shares pursuant to the merger agreement by and among Xerox, Boulder Acquisition, and Affiliated Computer Services, and the shares of Xerox Series B Preferred Stock pursuant to the exchange agremeent. Deason also noted in the filing that, on January 17, 2018, he sent a letter to the board of directors of Xerox publicly demanding the need for the company to immediately disclose its critical existing joint venture agreement with Fujifilm Holdings Corporation (FUJIY) in accordance with the U.S. securities laws. Further, the letter demanded that the board of directors hire new and independent advisors in order to evaluate the company's strategic options with Fuji. The letter concluded by calling for further discussions once the critical joint venture agreement has been disclosed.

14:26 EDT Vornado raises dividend to 63c per share - Vornado Realty Trust announced that its board of trustees has declared an increased quarterly dividend of 63c per share, a 2018 annual dividend rate of $2.52. The former annual dividend rate, exclusive of Vornado's Washington DC business which was spun-off in July 2017, was $2.34 per share. The dividend will be payable on February 15 to shareholders of record on January 29.

14:22 EDT USPTO board says Janssen Oncology patent claims unpatentable - In a final written decision posted to the site of the US Patent and Trademark Office, Administrative Patent Judge Kristina Kalan wrote: "Amerigen Pharmaceuticals Limited filed a Petition to institute an inter partes review of claims 1-20 of U.S. Patent No. 8,822,438...Janssen Oncology filed a Preliminary Response. We instituted an inter partes review of claims 1-20 on certain grounds of unpatentability alleged in the Petition... we determine that Petitioner has shown by a preponderance of the evidence that all claims of the '438 patent for which trial was instituted, namely, claims 1-20, are unpatentable." The '438 patent describes administration of a therapeutically effective amount of a CYP17 inhibitor, such as abiraterone acetate, with a therapeutically effective amount of at least one additional therapeutic agent including, but not limited to, an anti-cancer agent, such as mitoxantrone, paclitaxel, docetaxel, leuprolide, goserelin, triptorelin, seocalcitol, bicalutamide, or flutamide, or a steroid, such as hydrocortisone, prednisone, or dexamethasone, the ruling states. Janssen Oncology is a unit of Johnson & Johnson.

13:22 EDT Apple sees creating over 20,000 new U.S. jobs over next five years

13:18 EDT Ipsen: Onivyde+-FU/LV improved overall survival in Phase 3 study - Ipsen Biopharmaceuticals, Inc., an affiliate of Ipsen, announced that five new sub-analyses of the pivotal Phase 3 NAPOLI-1 trial will be presented at this year's American Society of Clinical Oncology's Gastrointestinal Cancer Symposium taking place in San Francisco, California, from January 18-20. The results of these post-hoc analyses may offer physicians insight into treatment strategies for metastatic pancreatic cancer patients who have progressed following gemcitabine-based therapy and are being treated with ONIVYDE in combination with fluorouracil and leucovorin. There will be seven ONIVYDE poster presentations at this year's conference. Three additional posters will be presented focused on neuroendocrine tumors or Somatuline Depot Injection 120mg. In NAPOLI-1, a randomized phase 3 study in patients with metastatic pancreatic cancer previously treated with gemcitabine-based therapy, ONIVYDE+5-FU/LV improved overall survival vs 5-FU/LV. In a post-hoc analysis examining the impact of protocol-defined dose reductions or delays used to manage adverse events on overall survival in ONIVYDE-treated patients, there was a numerical but not statistically significant difference in OS between patients who did have a dose reduction or dose delay vs. patients who did not require dose reductions or dose delays. Adverse events seen in this post-hoc analysis was consistent with AEs reported in the NAPOLI-1 clinical trial.

13:08 EDT Apple announces new U.S. investments, sees $38B of repatriation taxes - Apple announced a new set of investments "to build on its commitment to support the American economy and its workforce," concentrated in three areas: direct employment by Apple, spending and investment with Apple's domestic suppliers and manufacturers, and fueling the app economy. Apple said in a statement that it is already responsible for creating and supporting over 2M jobs across the United States. It expects "to generate even more jobs as a result of the initiatives being announced today." Combining new investments and Apple's current pace of spending with domestic suppliers and manufacturers, an estimated $55B for 2018, Apple's direct contribution to the U.S. economy will be more than $350B over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products. Planned capital expenditures in the U.S., investments in American manufacturing over five years and a record tax payment upon repatriation of overseas profits will account for approximately $75B of Apple's direct contribution, the iPhone maker said. Apple anticipates repatriation tax payments of approximately $38B as required by recent changes to the tax law. The company expects to invest over $30B in capital expenditures in the U.S. over the next five years and create over 20,000 new jobs through hiring at existing campuses and opening a new one. Apple already employs 84,000 people in all 50 states. The company plans to establish an Apple campus in a new location, which will initially house technical support for customers. The location of this new facility will be announced later in the year. Today, Apple is breaking ground on a new facility in downtown Reno, which will support its existing Nevada facilities.

13:01 EDT Apple sees investing over $30B in U.S. capital expenditures over five years

12:46 EDT ASML results pull semiconductor equipment maker shares higher - Shares of semiconductor equipment companies are strong this morning after peer ASML (ASML) reported fourth quarter earnings and revenue that were ahead of expectations, as customers looked for early delivery of equipment to meet high demand expectations. Q4 RESULTS: The Dutch-based semiconductor equipment maker reported Q4 revenue of EUR 2.56B versus a consensus estimate of EUR 2.15B The company also reported a gross margin rate of 45.2%, ahead of estimates. Earnings per share for the quarter was EUR 1.49 versus EUR 1.22 in the year-ago quarter. ASML sees Q1 revenue of EUR 2.2B, lower than the average of analyst estimates, but sees strength in the second half of the year. "Due to industry strength, some customers requested earlier shipments of their lithography systems, which we were able to accommodate. Earlier-than-expected revenue recognition of two Extreme Ultraviolet systems contributed to the strong performance in the fourth quarter as well. With EUV sales crossing the 1.1B euro mark, 2017 was the year in which preparations for inserting EUV into high-volume chip manufacturing shifted into a higher gear. This is underlined by orders for 10 more EUV systems in the fourth quarter. Sales of our Holistic Lithography and Installed Base Management products also showed significant growth in 2017," said ASML CEO Peter Wennink. ASML's order backlog grew to 6.7B euros, from 5.7B last quarter. ANALYST VIEW: According to Barron's, Jefferies' analyst Masahiro Nakanomyo concluded that "the overall market should sustain brisk growth in 2018." Despite the fact that Nakanomyo sees "a pace correction at some point" The analyst said that he sees "memory prices and semiconductor company profits" to continue their strength. PRICE ACTION: Shares of ASML are up almost 6% to $197.19 per share in afternoon trading. PEERS TRADE HIGHER: Shares of semi-equipment stocks are all higher, including Lam Research (LRCX), KLA-Tencor Corp (KLAC), Teradyne (TER), Applied Materials (AMAT), and Teradyne (TER).

12:33 EDT Finish Line raises quarterly dividend 5% to 11.5c per share - The Finish Line announced that its board of directors has declared a quarterly cash dividend of 11.5c per share of outstanding common stock. This represents a 0.5c per share or 5% increase over the previous dividend paid by the company. The quarterly cash dividend will be payable on March 19, 2018 to shareholders of record as of March 2, 2018.

11:35 EDT HomeStreet holder Roaring Blue Lion to nominate board slate - Roaring Blue Lion said in the filing: "The following persons are participants in the planned solicitation from the company's shareholders of proxies in favor of the Nominees: Mr. Griege, Roaring Blue Lion Capital Management and the nominees. The participants may have interests in the solicitation, including as a result of holding shares of the company's common stock."

11:19 EDT Barclays says buy IBM ahead of possible emergence as third big cloud vendor - Shares of IBM (IBM) are on the rise after Barclays analyst Mark Moskowitz upgraded the stock two notches to Overweight, a buy-equivalent rating, as he believes the company could be entering a period of top-line stability and maybe even modest growth over the next 12 to 18 months. BUY IBM: In a research note to investors this morning, Barclays' Moskowitz double upgraded IBM to Overweight from Underweight and raised his price target on the shares to $192 from $133. Moskowitz believes the technology giant could be entering a period of top-line stability and maybe even modest growth over the next year to year and a half. Furthermore, the analyst argued that IBM could emerge over time as the next important cloud vendor after Amazon (AMZN) and Microsoft's (MSFT) Azure. There may be room for another cloud player and the "narrative can favorably shift" for shares of IBM, he contended. Additionally, Moskowitz told investors he believes the storage growth revival continues and the server market could benefit from recent security scares. The Intel-led (INTC) security issues present a great opportunity for alternatives like IBM's Power architecture, he argued. OTHERS TO WATCH: This morning, Barclays' Moskowitz also upgraded Pure Storage (PSTG) to Overweight from Equal Weight on fundamentals, while downgrading HP Inc. (HPQ) to Equal Weight from Overweight as he believes the story has played out. The analyst also cut his rating for Presidio (PSDO) to Equal Weight on tax reform implications, and downgraded Juniper Networks (JNPR) to Underweight from Equal Weight due to a lack of a service provider rebound in 2018 and the rising threat from Arista Networks (ANET) in routing. PRICE ACTION: In late morning trading, shares of IBM have gained about 2.5% to $167.94.

10:43 EDT Juno, CAR-T peers rise after report of potential Celgene deal - Shares of Juno Therapeutics (JUNO) are on the rise after the Wall Street Journal reported that the company is in talks to be acquired by Celgene (CELG). Several Wall Street analysts commented on the news, with Leerink's Michael Schmidt saying a deal could make potential strategic and operational sense and his peer at Citi arguing that Juno could be worth $110 per share in a takeover. POTENTIAL ACQUISITION BY CELGENE: Following a report by The Wall Street Journal saying Celgene is in talks to possibly buy Juno Therapeutics, Wells Fargo analyst Jim Birchenough raised his price target for the latter to $63 from $54, while reiterating a Market Perform rating on the shares. With the prior acquisition of Kite Pharma by Gilead (GILD) for $12B, the analyst told investors he believes a similar interest in Juno cannot be ruled out. Meanwhile, Leerink's Schmidt argued in a research note of his own that a deal could make potential strategic and operational sense. Further, the analyst noted that he would be surprised if Juno would accept an offer lower than Kite's acquisition price of $11.9B, given the company's high-level conviction of having developed a best-in-class CAR-T platform and that Celgene previously acquired 10% of JUNO shares at $93 per share. He reiterated an Outperform rating on Juno's shares. Also commenting on the news, Jefferies analyst Michael Yee pointed out that if Celgene paid $65-$90 per share for Juno Therapeutics, or a 50%-100% premium to the "unaffected" price before yesterday, it would equate to $7B-$9B in enterprise value to consolidate. The analyst told investors that he believes an $8B deal makes sense since Celgene owns 10% of Juno already. Assuming a $65-$90 per share deal price, the Street would view Juno as a positive "incremental" acquisition for Celgene, Yee contended, while reiterating a Buy rating and $125 price target on Celgene's shares. COULD BE WORTH $110 PER SHARE: Meanwhile, Citi analyst Robyn Karnauskas told investors in a research note of her own that her analysis indicates Juno could be worth $110 per share in a takeover. However, the analyst pointed out that Juno does not have data showing their safety is differentiated yet. Kite Pharma had more data at the time of its acquisition, Karnauskas added, while also noting that Celgene already has an agreement to develop BCMA CAR-T targeting multiple myeloma with bluebird bio (BLUE). PRICE ACTION: In morning trading, shares of Juno have jumped over 50% to $69.56, while Celgene's stock has dropped over 2% to $102.50. Also higher in the space following the news are bluebird bio, Bellicum Pharmaceuticals (BLCM) and Cellectis SA (CLLS), which have gained 8%, 5% and 6%, respectively.

10:24 EDT Fastenal sets goal of 360-385 Onsite signings for 2018 - Says daily sales growth was strong in Q4. Says aggressively investing to onsite, vending, and e-commerce initiatives while maintaining good operating expense leverage, sees momentum being sustained in 2018. Says signed 270 Onsites in 2017, which included 57 signings in Q4. Finished 2017 with 2,988 total in-market locations. Says signed 19,355 vending devices in FY17 and saw a lower rate of device removal sequentially in final three quarters. Sees 2018 vending device signings of 21,000-23,000. Says construction gained momentum in Q4. Says took steps in Q4 to offset raw material cost inflation, expects to see impact in 2018. Expects net capital spending of $149M in 2018. Comments taken from Q4 earnings conference call.

10:10 EDT G. Willi-Food reports indictments of former officers of Willi Food Investments - In a regulatory filing, G. Willi-Food International reported that its controlling shareholder, Willi Food Investments, reported yesterday that on January 15, 2018 the District Attorney's Office has submitted an indictment against Mr. Alexander Granovskyi and Mr. Gregory Gurtovoy, former controlling shareholders and officers of Willi Food Investments and of companies under Willi Food Investments' control, and against Joseph Schneerson, former director of Willi Food Investments and of companies under Willi Food Investments' control. The Defendants are accused of offenses under the Israeli Securities Law and the Israeli Penal Law, including reporting offenses, fraudulent receipt, false registration in corporate documents, offenses by managers and employees in the corporation, fraud and breach of trust in the corporation and money laundering. "It is clarified that the Defendants, and the CEO and the CFO of the Company and of Willi-Food Investments Ltd. (the parent company) at the time of the alleged events described above, do not hold any positions in the parent company, the Company and any company under the parent company's control," G. Willi-Food stated.

10:01 EDT Goldman Sachs CFO: Beginning 2018 with 'renewed optimism' for U.S. growth

10:01 EDT Comtech receives $19.1M follow-on contract - Comtech announced that during its second quarter of fiscal 2018, its Tempe, Arizona-based subsidiary, Comtech EF Data Corp., which is part of Comtech's Commercial Solutions segment, received a follow-on contract to provide long-term support for the Advanced Time Division Multiple Access Interface Processor production terminals in support of the Space and Naval Warfare Systems Command. This new contract is a 10-year IDIQ contract with a 5-year base and 5 one-year options. The total potential contract value is $19.1M.

09:53 EDT Axcelis drops 5% to $28.67 after Needham conference presentation

09:50 EDT Investors Title Company trading resumes

09:45 EDT Investors Title Company trading halted, volatility trading pause

09:29 EDT U.S. Bancorp sees FY18 net interest income growth similar to FY17

09:26 EDT U.S. Bancorp says expects positive operating leverage in FY18 - The company expects positive operating leverage in FY18, including investments.

09:22 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Community Trust Bancorp (CTBI), up 1%... Bank of America (BAC), up fractionally. ALSO HIGHER: Ulta Beauty (ULTA), up 3.5% after being upgraded to Overweight on 'compelling' valuation at Morgan Stanley... Ichor Holdings (ICHR), up 7.8% after giving Q4 and Q1 guidance. DOWN AFTER EARNINGS: Fastenal (FAST), down 3.4%... Goldman Sachs (GS) and Charles Schwab (SCHW) were both down marginally. ALSO LOWER: General Electric (GE), down 3% following a New York Post report that Nelson Peltz's Trian Fund Management is urging the company to consider possible sales or spin-outs of many of its businesses including in health and power... Genocea (GNCA), down 25% after its 53.4M share Spot Secondary priced at $1.00... Carrizo Oil & Gas (CRZO), down 1.5% after its 1.2M share Block Trade priced at $23.00.

09:20 EDT U.S. Bancorp sees FY18 net interest income increasing mid single digits y/y - Sees Q1 net interest income down modestly, sequentially.

09:17 EDT MiMedx enrolls first patients in Phase trial of AmnioFix for Achilles tendonitis - MiMedx announced that the first patients have been randomized and enrolled in the company's Phase 3 Investigational New Drug clinical trial for MiMedx's micronized amniotic tissue, AmnioFix Injectable, in the treatment of Achilles Tendonitis. The design of the Phase 3 Achilles Tendonitis study will include approximately 158 patients. The primary efficacy endpoint of this study will be the change in Visual Analog Scale score for patients between baseline and Day 90 between the AmnioFix Injectable group versus placebo-treated group. Following the completion of this Achilles Tendonitis Phase 3 trial and its other ongoing Phase 3 trial for the use of AmnioFix Injectable in the treatment of Plantar Fasciitis, MiMedx plans to submit a Biologic License Application to the FDA for tendonitis.

09:14 EDT BofA CEO: Most of tax benefits to flow to shareholders

09:12 EDT U.S. Bancorp says Tax Act to benefit the company going forward - Says to reinvest approximately 25% of tax benefit realized. Comments from Q4 earnings conference call.

09:10 EDT Bank of America sees GAAP tax rate approx. 20% in 2018 - Says tax rate on an FTE basis vs. GAAP has narrowed to 1bp from 2bp difference.

09:05 EDT Dow Building Solutions, USGBC partner to support sustainable cities - Dow Building Solutions, a global business unit of DowDuPont Specialty Products division, introduced a collaboration with the U.S. Green Building Council to deliver solutions that contribute to building more sustainable communities and cities. Dow, a Worldwide Partner and Official Chemistry Company of the Olympic Movement and the Official Carbon Partner of the International Olympic Committee, is seeking to develop carbon mitigation projects in built environments. The goal of the collaboration is to measurably reduce greenhouse gas emissions through improved energy efficiency in buildings. Both parties will take learnings from the collaboration to develop trainings and build capacity in the industry to catalyze broader energy efficiency efforts worldwide. The latest data indicate that buildings are currently responsible for about one-third of global energy consumption, and about 30% of global energy-related CO2 emissions and 20 percent of total CO2 emissions. In an effort to reduce these emissions, Dow and USGBC will collectively advise two cities or communities to help in achieving LEED, or Leadership in Energy and Environmental Design, certification.

09:05 EDT 3D Systems, Stryker announce exclusive distribution partnership for VSP - 3D Systems (DDD) and Stryker (SYK) announced an exclusive distribution partnership for VSP and anatomical models for the craniomaxillofacial specialty. This partnership will drive the availability of personalized surgical planning and techniques to healthcare professionals - saving both surgeons and patients hours in the operating room. The agreement between 3D Systems and Stryker is specific to the United States, Canada, Europe and Australia.

09:04 EDT BofA CFO: Loan growth outlook 'remains to be seen' given tax reform - Says optimism among clients is "high."

09:04 EDT Polaris Industries names Mike Donoughe as CTO, effective January 22 - Polaris Industries announced that Mike Donoughe will join Polaris as chief technical officer. Effective January 22, Donoughe will report operationally to EVP of Global Operations, Engineering, and Lean Ken Pucel, and dual report to Chairman and CEO Scott Wine as a member of Polaris' executive leadership team.

09:03 EDT Roku announces advancements in OTT ad measurement with Ad Insights - Roku, Inc. announced further advancements in over-the-top advertising measurement by introducing Ad Insights. The new offering allows marketers to measure campaign reach and effectiveness across linear and OTT, and more accurately plan their OTT ad investments. The toolset helps brands analyze the engagement of TV audiences as they rapidly shift their viewing towards streaming.

09:02 EDT T-Mobile, Twentieth Century Fox partner for $4 movie tickets - T-Mobile (TMUS) and Twentieth Century Fox Film (FOX, FOXA) announced an exclusive partnership. As part of the deal, T-Mobile customers can get a $4 ticket to five of the biggest movies of the year. And it all starts next Tuesday, January 23, with tickets to the opening of Maze Runner: The Death Cure, followed by four of this year's films, including Red Sparrow, Deadpool 2, Alita: Battle Angel and Dark Phoenix. Customers get their ticket in the T-Mobile Tuesdays app and redeem with the Atom Tickets app. And, T-Mobile customers get more than just tickets - they can enter to win trips to attend premieres and other VIP experiences, plus access to movie sneak peeks available first from T-Mobile.

08:51 EDT Charles Schwab: Preliminary Tier 1 Leverage Ratio at quarter-end was 7.6% - CFO Peter Crawford commented, "Schwab's record 2017 financial results demonstrate the power of our financial formula working as designed: our robust business growth supported strong revenue growth through multiple sources, which we combined with continued expense discipline to drive significantly improved profitability. As Walt described, our success with clients and a favorable environment resulted in a 21% increase in client assets. We turned this growth into a 15% lift in revenues through record contributions from our two largest revenue sources. Net interest revenue rose 29% to $4.3B due to rising interest rates as well as growing client cash balances...Effective balance sheet management remains core to supporting our success and our 2017 return on equity was 15%, the highest since 2009. Throughout last year, we were mindful of approaching the $250B consolidated asset threshold and the related implications for heightened regulatory requirements...We also worked to improve our capital mix by replacing $485M of 6% preferred shares with a lower rate preferred offering, and by issuing $1.5B of senior notes in advance of debt maturing in 2018 and to support continued business growth. By month-end December, our consolidated balance sheet reached $243B and our preliminary Tier 1 Leverage Ratio was 7.6%. We ended the year poised to cross the $250B consolidated asset threshold during the first half of 2018 as we continue to drive strong balance sheet growth through a combination of asset gathering and bulk transfers."

08:46 EDT Scientific Games goes live with system at first of 28 Alberta casinos - Scientific Games announced that the company has gone live with the first of 28 casinos throughout Alberta that will install the company's system solution. The company had previously signed a comprehensive agreement with the Alberta Gaming and Liquor Commission to install its casino management system in all 28 of the independently-operated casinos throughout the Canadian province. The Grand Villa Casino Edmonton went live with the system on November 20.

08:43 EDT Rolls-Royce to restructure support, management functions - The company said, "The simplification of our operating businesses into three focused units will enable them to operate at greater pace, but the full benefits can only be realised if we undertake a more fundamental restructuring, in particular of our support and management functions, and take a highly disciplined approach to capital allocation on investment expenditure and R&D spend. We will also be taking further measures to streamline processes and reinforce behavioural change, accelerating the work we have already done to drive simplicity...Although the potential impact on our workforce remains to be quantified, we do not anticipate any reduction in the skilled operational and engineering roles that we require to support our current ramp-up in Civil Aerospace engine production. We will honour commitments made to workers' representatives in the UK and elsewhere, including those which enabled last year's GBP150M investment in new and existing Civil Aerospace facilities. Further broad details of the restructuring will be given alongside our 2017 financial results. Within those results we will report our Marine and Nuclear businesses as separate units, as in prior years. In addition, we plan to hold a Capital Markets event later this year at which we will be in a position to provide a fuller discussion of the expected benefits of the restructuring programme." Reference Link

08:40 EDT Rolls-Royce to integrate Nuclear operations into Defence and Power Systems - The company said, "In order to further simplify our business from five operating businesses to three focused units, we intend to integrate our existing Nuclear operations into our Defence and Power Systems businesses. Our Nuclear Submarines operation, which is the sole provider and technical authority for the Royal Navy's nuclear submarine fleet, will form part of Rolls-Royce Defence, while our Civil Nuclear operations will be placed within Rolls-Royce Power Systems, which already provides services to the nuclear industry such as emergency diesel generators.We expect these changes to take effect during 1Q18. In 2016, our Nuclear business reported revenues of GBP777M and generated a profit of GBP45M. Our Submarines operation accounted for 79% of revenues and our Civil Nuclear operations accounted for 21%." Reference Link

08:39 EDT Rolls-Royce announces strategic review of Commercial Marine operation - The company said, "Since 2015 our Marine business has responded to weak demand for products and services for the offshore oil and gas market, which significantly impacted its profitability. It has divested non-core businesses and reduced the number of sites from 27 to 15 - an overall reduction in footprint of 40%. It has managed a reduction in its workforce by 30% to 4,200, with the majority now based in the Nordic region. At the same time, the business has been investing in new facilities and new technologies and become an industry leader in the fields of ship intelligence and autonomous vessels, culminating in June 2017 with the successful demonstration, in Copenhagen harbour, of the world's first remotely operated commercial vessel. Given the progress the business has already made, it is now an appropriate time to conduct a strategic review of Commercial Marine. This review will be undertaken during 2018 and we will update the market of the outcome at the appropriate time...Regardless of the outcome of this strategic review, Rolls-Royce will retain the Marine operations which supply complex power and propulsion systems to Naval customers, including the Royal Navy and US Navy. During 1Q18 these Naval operations will become part of an enlarged Defence business named Rolls-Royce Defence, comprising the current Defence Aerospace business and our Nuclear Submarines operation. We will also continue to have a successful engine business serving marine customers within Power Systems." Reference Link

08:37 EDT PURE Bioscience receives orders for PURE Hard Surface disinfectant - PURE Bioscience announced that a leading foodservice distributor has placed initial orders for PURE Hard Surface disinfectant to be used as a new, more effective, time-efficient transportation sanitization solution on trucks and trailers transporting food.

08:36 EDT Eros Now announces renewal of platform integration deal with Reliance Jio - Eros International said that Eros Now, its digital over-the-top platform, and Reliance Industries Limited have renewed their platform integration partnership. Reliance Jio Infocomm Limited, a provider of digital services in India, is a subsidiary of Reliance. Under the terms of the new deal, the Eros Now service will be available to Jio subscribers. With this renewal, Jio subscribers can access Eros Now's high quality content including full length movies and thematic curated playlists and functions such as multi-language subtitles for movies, music video playlists, regional language filters, video progression and a watch list of titles.

08:36 EDT Axis Capital expects $42M tax charge in Q4 related to tax reform - As a result of the reduction in the U.S. corporate income tax rate from 35% to 21% enacted as part of the Tax Cuts and Jobs Act of 2017, AXIS Capital expects to recognize a tax charge in Q4 related to the revaluation of its net Deferred Tax Asset. This charge is estimated to be approximately $42M and will not affect the company's non-GAAP operating net income, a non-GAAP financial measure. Based on its preliminary assessment, the company does not currently expect U.S. Tax Reform to have a material impact going forward on its net income. AXIS Capital's preliminary assessment of the impact of U.S. Tax Reform is based upon the company's current interpretation of U.S. Tax Reform, however, the ultimate impact of U.S. Tax Reform on the company may vary as interpretive regulatory guidance on the new law is issued and corrective or supplemental legislation is enacted.

08:34 EDT DarioHealth launches iPhone-compatible smart glucose meter in Australia - DarioHealth has launched the Lightning-enabled version of the Dario Blood Glucose Monitoring System in the Australian market. The Lightning-enabled device ensures that Australian Apple consumers will be able to connect the Dario smart glucose meter to the latest iOS handsets, including the brand-new iPhone X. DarioHealth expects to increase revenues in the Australian market with this launch. Germany is the next market expected to launch the Dario Smart Glucose Meter for iPhone 7, iPhone 8, and iPhone X. In the U.S. market, the Dario Lightning-enabled device is still under review by the FDA, and the company expects to hear about possible clearance during the next few months.

08:32 EDT OSI Systems receives $21M order for RTT baggage screening systems - OSI Systems announced that its Security division received a follow-on order for approximately $21M to provide multiple additional units of its RTT 110 explosive detection systems that will be installed at Charles de Gaulle international airport located near Paris, France. The RTT employs a proprietary solid-state approach to provide high-resolution 3-D imaging, and its unique design allows the efficient inspection of hold baggage and air cargo while maintaining capability to meet the most recent threat detection standards. RTT has passed the European Civil Aviation Conference's HBS EDS Standard 3 threat detection requirement and has been deployed by numerous airports and air logistics providers.

08:17 EDT U.S. Bancorp CEO: Operating from a position of strength entering 2018 - U.S. Bancorp President and CEO Andy Cecere said, "Our fourth quarter results were a strong end to what was a record year for U.S. Bancorp on several measures: we delivered record net revenue, net income, and diluted earnings per common share. Excluding notable items, our fourth quarter performance metrics were highlighted by a return on average common equity of 13.4 percent and a return on average assets of 1.33 percent. In the fourth quarter we returned 72 percent of earnings to shareholders through dividends and share buybacks. The economic backdrop is favorable, and tax reform legislation enacted late last year has provided us an opportunity to accelerate investment in our businesses, our people, and our communities, while at the same time enhancing shareholder value through the potential for increased payouts. We previously announced that we will raise our minimum wage in the United States to $15 per hour, provide one-time bonuses to certain eligible employees, and contribute an additional $150 million to the U.S. Bank Foundation, which will help revitalize our communities for years to come. With the ongoing benefit provided by a lower corporate tax rate we plan to increase our investments in technology and innovation, with a focus on enhancing the customer experience and improving operational efficiency that drives long-term growth and creates value for shareholders. The successes of 2017 were a direct result of the outstanding dedication and effort of our employees. I want to thank our amazing team members who work tirelessly to be our customers' most trusted partner. We are operating from a position of strength as we enter 2018 and we will continue to work every day to create value for our investors, our customers, our communities, and our employees."

08:10 EDT VBI Vaccines doses first patient in Phase 1/2a clinical study of VBI-1901 - VBI Vaccines announced that the first patient has been dosed in a Phase 1/2a clinical study of VBI-1901 for the treatment of recurrent glioblastoma multiforme, or rGBM. The multi-center, open-label, two-part study will enroll up to 28 patients and is designed to evaluate safety, tolerability, and the optimal therapeutic dose level of VBI-1901.

08:08 EDT Pareteum awarded $3M contract to add mobility to South American data provider - Pareteum has been awarded a five-year $3M contract for implementation of its Managed Services Solution with a South American provider of communications solutions with over 20 years of successful market experience. Pareteum's Managed Services Platform delivers the value generating software based Intellectual Property of TEUM. The agreement, when fully deployed and implemented, will service over 300,000 connections in multiple countries.

08:07 EDT Cornerstone OnDemand to separate chairman and CEO roles - Cornerstone OnDemand announced plans to make several changes to its corporate governance structure as part of its broader strategic transformation plan outlined in November. Cornerstone will separate the chairman of the board and CEO roles and move to declassify its board of directors. Additionally, long-tenured directors Mark Baker, Hal Burlingame and Joe Payne announced their plans to retire from the board. The company plans to separate the chairman and CEO roles when a new chairman is appointed. Adam Miller, who currently serves as both chairman and CEO of the company, will continue to serve as a director and CEO once the appointment is made. Cornerstone's board of directors also announced it will be submitting a proposal to stockholders to declassify the board. Currently, the company's three classes of directors are elected for staggered, three-year terms. Declassification of the board would enable Cornerstone's stockholders to vote annually on the election of all directors. The proposal to declassify will appear on the ballot at the company's 2018 annual shareholder meeting, and requires the support of the holders of 70% of outstanding shares of the company's common stock to be adopted. If stockholders approve the proposal, directors standing for election in 2019 and beyond would be elected to one-year terms. Regarding the retirement of Mr. Baker, Mr. Burlingame and Mr. Payne as directors, Mr. Baker will retire at the company's 2018 annual shareholder meeting after 15 years of service. Mr. Payne and Mr. Burlingame will retire when their terms expire at the company's 2018 and 2019 annual shareholder meetings, respectively. In connection with these announced retirement plans, directors Dean Carter and Joe Osnoss will join Robert Cavanaugh on the nominating and corporate governance committee, which Mr. Osnoss will chair. The committee is working closely with the full board, Silver Lake and other shareholders to identify additional world-class directors for the board.

08:07 EDT MPLX announces joint open season for Cushing-to-Patoka pipeline expansion - MPLX announced that its subsidiaries MPLX Ozark Pipe Line and Marathon Pipe Line have commenced a joint binding open season on the combined Ozark 22-inch and Woodpat 22-inch pipelines from Cushing, Oklahoma, to Patoka, Illinois. The joint binding open season provides interested shippers with an opportunity to secure priority transportation service on the pipelines. The joint binding open season will commence on Jan. 17 at 8 a.m., Central Standard Time, and will conclude at noon Central Standard Time, on Feb. 16.

08:04 EDT FrontFour Capital voices concerns regarding Obsidian Energy - FrontFour Capital Group, together with its affiliates, commented on recent developments related to Obsidian Energy. FrontFour and its principals are significant long-term shareholders of Obsidian, collectively beneficially owning over 28M outstanding shares, representing approximately 5.7% of Obsidian's outstanding capital. As previously disclosed in its Schedule 13D filing of November 20, 2017, on October 5, 2017, after significant dialogue with Obsidian CEO David French on the Company's development plan within the Willesden Green Cardium, as well as with numerous Obsidian directors in reaction to Obsidian's analyst day presentation and SEC lawsuit, FrontFour sent to the board of directors of Obsidian a letter outlining its significant concerns with Obsidian's capital plan, strategic direction and value proposition to investors. "FrontFour's specific concerns included but were not limited to: (i) the belief that Obsidian's capital program was highly flawed and has negatively impacted Obsidian's current valuation due to an emphasis on an integrated waterflood approach to developing the Cardium as opposed to a shorter cycle strategy focused on more rapidly growing Obsidian's light oil production; (ii) the decision to spend minimal capital on drilling and completing new wells in the Cardium and Viking during the first half of 2017, resulting in sequential declines in light oil production throughout the year; (iii) Obsidian's positioning of the Peace River joint venture as a continued core focus of capital deployment post expiry of the remaining capital carry in lieu of spending capital to grow its light oil and liquids production; and (iv) Obsidian's inability to dispose of or improve the operations within its non-core legacy gas-weighted production. Due to these concerns and in light of our significant long-term shareholdings in Obsidian, FrontFour also requested board representation. Despite FrontFour's tireless efforts over the last three months to come to an amicable agreement with Obsidian's management team and Board on the addition to the Board of ONE mutually agreed upon independent nominee proposed by FrontFour, we have been unable to come to an agreement that would avoid a needlessly costly and distracting proxy fight. It became apparent to FrontFour during our negotiations that the Board is divided on strategy and that certain directors are entrenched, which is surprising given their aversion to share ownership and long-term track record of underperformance. We welcomed Obsidian's January 15, 2018 press release, which featured strong primary well performance out of the bioturbated interval within the Willesden Green Cardium and an accelerated 2018 Cardium program via the reallocation of capital from vertical waterflood injectors. Both initiatives are consistent with our private suggestions to management and our dialogue with the Board. We note that the Company made no mention of this approach in their recently released 5-year capital plan, which is less than seven months old. We believe that continued shareholder engagement is necessary, especially in light of Obsidian's ill-timed hedging strategy of selling essentially ALL of its 2018 light oil production via fixed price swaps at prices of ~$52 per barrel, which has led to material mark to market losses. This decision has created additional headwinds to equity performance as Obsidian has continued to underperform its peers, who are benefitting from the recent increase in crude prices. Despite Obsidian's vast resource base, it is clear that investors are struggling to find the equity compelling relative to its peers given the Company's below average growth rate, underwater hedge program, muddled capital plan, and lack of dividend. FrontFour believes that a significant overhaul of Obsidian is necessary, including the streamlining of the portfolio via dispositions, and the high grading of the capital program to drive robust light oil and liquids growth within Obsidian's dominant Cardium position and vast Mannville footprint. Obsidian has the potential to be a standout light oil growth player and Cardium champion through a dramatic transformation that we believe will unlock significant value for all shareholders. To this end, FrontFour is currently considering all available options, including seeking changes to the composition of the Board at Obsidian's 2018 Annual Meeting."

08:02 EDT DowDuPont, UC Davis team up to advance orphan African crops - Dow AgroSciences teamed up with the University of California-Davis (and the African Orphan Crops Consortium. The organization is working to advance plant breeding and agronomic training in Africa for improving crops and nutrition. The progress made by the AOCC is being highlighted at a workshop during the International Plant & Animal Genome XXVI Conference taking place in San Diego, Jan. 13-17, 2018. As part of contributing to the work of the AOCC, Dow AgroSciences' researchers stepped forward to sequence the genomes of three orphan crops, generating an estimated 350 gigabytes of new DNA sequence information from 116 lines which will now be publicly available for the first time. Knowledge generated using this sequence information will serve as the foundation to advance plant breeding in these crops by African breeders that will ultimately improve human nourishment and food security. As part of its commitment, Dow AgroSciences also sent plant breeders to Kenya to lead workshops as part of the UC Davis Plant Breeding Academysm with plant breeders from 25 African countries who are eager to enhance and apply their knowledge and skills.

08:02 EDT Alliance MMA, FloSports announce event rights fee deal - Alliance MMA announced that the company is successfully moving forward with their stated objective of monetizing its live original sports content through a multi-year deal with FloSports. Pursuant to the terms of the agreement, Alliance MMA will provide its Cage Fury Fighting Championships and V3Fights event content to FloSports, which will distribute the programming both live and on-demand via its FloCombat.com platform. FloCombat.com provides live and on-demand coverage of hundreds of MMA combat events per year, giving fans in-depth access to breaking news, fighter rankings and profiles, original documentaries, and more. To view live and on-demand coverage of CFFC and V3 events, visit FloCombat.com and become a monthly or annual PRO subscriber, which also provides access for subscribers to experience premium content across the entire FloSports network.

07:58 EDT Ladder Capital reports unsolicited $15 per share takeover proposal from Related - In a regulatory filing yesterday, Ladder Capital confirmed that on January 15 it received an unsolicited non-binding proposal letter from Related Fund Management proposing to acquire all of the outstanding shares of Ladder for $15 per share through a two-step tender offer and merger process, subject to certain conditions. "The company's board of directors intends to promptly and carefully review the proposal consistent with its fiduciary duties and in consultation with its legal and financial advisors. Following its review, the board will respond to the proposal and advise its stockholders of the board's response," Ladder stated.

07:47 EDT Dentsply Sirona adds three new board members - Dentsply Sirona has increased the size of its Board of Directors from nine to twelve members and three new board members have been appointed: Betsy Holden and Leslie Varon, in addition to Don Casey Jr., Dentsply Sirona's newly appointed CEO.

07:46 EDT Pearson sees FY18 adjusted operating profit GBP520M-GBP560M - Pearson says, "In our US higher education courseware business, we expect revenues to be flat to down mid-single digit percent due to the similar underlying pressures seen in the last two years from lower college enrolments, increased use of Open Educational Resources and attrition from growth in the secondary market driven by print rental, partially offset by growth in digital revenues, benefits from our tactical actions and a continued normalisation of channel returns behavior."

07:42 EDT Onconova increases sample size in Phase 3 INSPIRE pivotal trial in MDS - Onconova is moving forward with its Phase 3 INSPIRE pivotal trial following the interim analysis, consistent with the DMC's recommendation. The DMC recommended continuation of the trial with a one-time expansion in enrollment. The INSPIRE pivotal trial is studying intravenously-administered rigosertib in patients with higher-risk myelodysplastic syndromes who have progressed on, failed to respond to, or relapsed after prior hypomethylating agent therapy. The company remains blinded to the interim analysis results. The expanded INSPIRE study will continue to enroll eligible patients based on the current trial design of the overall ITT population and will increase enrollment by adding 135 patients to the original target to reach a total enrollment of 360 patients. Onconova believes that this trial is the most advanced study for a new therapeutic agent in this indication, and there are no FDA approved therapies specifically for MDS patients after failure of front-line HMAs.

07:38 EDT Goldman Sachs reports Q4 net revenue in FICC sales & trading $1B - Net revenues in Investment Banking were $2.14 billion for the fourth quarter of 2017, 44% higher than the fourth quarter of 2016 and 19% higher than the third quarter of 2017. Net revenues in Financial Advisory were $772 million, 9% higher than the fourth quarter of 2016, reflecting higher net revenues in the U.S. Net revenues in Underwriting were $1.37 billion, 76% higher than the fourth quarter of 2016. Net revenues in Institutional Client Services were $2.37 billion for the fourth quarter of 2017, 34% lower than the fourth quarter of 2016 and 24% lower than the third quarter of 2017. Net revenues in Fixed Income, Currency and Commodities Client Execution were $1.00 billion for the fourth quarter of 2017, 50% lower than the fourth quarter of 2016, which included more favorable market conditions. Net revenues in Equities were $1.37 billion, 14% lower than the fourth quarter of 2016. Net revenues in Investing & Lending were $1.66 billion for the fourth quarter of 2017, 12% higher than the fourth quarter of 2016 and 12% lower than the third quarter of 2017. Net revenues in equity securities were $1.21 billion. Net revenues in Investment Management were $1.66 billion for the fourth quarter of 2017, 4% higher than the fourth quarter of 2016 and 9% higher than the third quarter of 2017.

07:32 EDT Dentsply Sirona appoints Donald Casey Jr. as CEO - Dentsply Sirona announced that its board has appointed Donald Casey Jr. as CEO and as a member of the company's board, effective February 12. Casey succeeds Mark Thierer, who served as Interim CEO since September 28, 2017. Thierer will continue to serve as Interim CEO through February 11, 2018 and will work closely with Casey to ensure a seamless transition.

07:30 EDT PAVmed announces terms of previously announced rights offering - PAVmed Iannounced that the Company has set the terms of its previously announced rights offering. Pursuant to the Rights Offering, the Company will distribute to the holders of outstanding shares of its Common Stock, for no consideration, one transferable right to purchase a new unit of the Company's securities for each share of Common Stock outstanding. Each New Unit will be comprised of one share of Common Stock and one Series Z Warrant. Each Z Warrant will entitle its holder to purchase one share of Common Stock for $3.00 per share for a period of six years. The Rights will be exercisable at a price of $2.25 per New Unit. The Rights will be freely tradeable upon issuance. The New Units will trade promptly upon issuance and for 90 days, at which point they will mandatorily split and their underlying shares of Common Stock and Z Warrants will trade separately.

07:19 EDT Arcturus Therapeutics expands collaboration with Takeda Pharmaceutical - Arcturus Therapeutics(ARCT) announced that it is extending its partnership with Takeda Pharmaceutical (TKPYY). Under the collaboration, Takeda and Arcturus will advance their efforts to develop RNA-based therapeutics for the treatment of non-alcoholic steatohepatitis and other gastrointestinal related disorders using Arcturus's wholly-owned LUNAR lipid-mediated delivery systems and UNA Oligomer chemistry.

07:11 EDT NeuroMetrix, GlaxoSmithKline announce strategic collaboration - NeuroMetrix (NURO) announced a collaboration with GlaxoSmithKline (GSK) involving Quell Wearable Pain Relief Technology. The key elements of the collaboration are as follows: GSK Consumer Healthcare acquires exclusive ownership of Quell technology for markets outside the U.S. NeuroMetrix retains exclusive ownership of Quell technology in the U.S. market. GSK Consumer Healthcare and NeuroMetrix to co-fund development of Quell technology for a three-year period beginning in 2018 through 2020, with subsequent annual renewals by mutual agreement. GSK Consumer Healthcare to pay NeuroMetrix $5M for the assets relating to Quell technology for markets outside the U.S and up to $21.5M, upon the achievement of certain development and commercialization milestones.

07:07 EDT BioLineRx reports results from Phase 2a COMBAT study in pancreatic cancer - BioLineRx announced partial results from the monotherapy portion of BL-8040's Phase 2a COMBAT study showing that BL-8040 increases infiltration of T cells into the tumor in patients with metastatic pancreatic cancer. The data will be presented as a poster at the ASCO 2018 Gastrointestinal Cancers Symposium, on January 19. The partial results from the BL-8040 monotherapy portion of the COMBAT trial show that BL-8040 was safe and well-tolerated. BL-8040 also induced an increase in the number of total immune cells in the peripheral blood, while the frequency of peripheral blood regulatory T cells, known to impede the anti-tumor immune response, was decreased. In addition, analysis of available biopsies showed infiltration of various types of effector T cells, known to attack cancer cells, into the tumor periphery and tumor micro-environment. Results show up to a 15-fold increase in CD3+ T cells, and up to a 2-fold increase in CD8+ T cells, in the TME of 43% of the patients, after five days of BL-8040 monotherapy. BioLine expects to meet its timelines for conclusion of the study and topline results by 2H18. The study is primarily designed to evaluate the clinical response, safety and tolerability of the combination of these therapies.

07:06 EDT Dana to raise quarterly dividend to 10c from 6c, announces $100M share buyback - The company announced that it will increase its quarterly dividend from 6c to 10c per share, and its board of directors has authorized the repurchase of up to $100M of common shares over the next two years.

07:03 EDT Curis initiates Phase 1 trial of CA-4948 in lymphoma - Curis initiated patient dosing in a Phase 1 trial of CA-4948, an orally available small molecule inhibitor of the IRAK4 kinase, for treatment of patients with lymphoma. CA-4948 was discovered at Aurigene and is the second licensed program from the Curis-Aurigene collaboration to enter the clinic. The Phase 1 study is designed to evaluate the safety, tolerability, and pharmacokinetic profile of CA-4948; identify any dose-limiting toxicities; and establish the recommended Phase 2 dose for the treatment of patients with lymphomas.

07:01 EDT Nasdaq to use Rimini Street for support of internal corporate systems - Rimini Street (RMNI) announced that Nasdaq (NDAQ) will use Rimini Street for support of its human resource management system.

06:56 EDT Sonoco Products increases prices for uncoated recycled paperboard products - Sonoco is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard in the U.S. and Canada, effective with shipments beginning February 19, 2017.

06:55 EDT AdvanSix reports reduced production rates at its manufacturing facilities - AdvanSix has experienced a temporary production issue at its Hopewell, Virginia facility related to the recent severe winter weather. As a result of this unplanned interruption, caprolactam and resin production have been reduced at their respective Hopewell and Chesterfield, Virginia facilities. The company expects to incur an approximately $30M-$35M unfavorable impact to pre-tax income in Q1, including the unfavorable impact of fixed cost absorption, lost sales, maintenance expense and incremental raw material costs. The unplanned interruption has no adverse impact on 4Q17 financial results.

06:55 EDT Aeterna Zentaris trading halted, news pending

06:53 EDT Genesco names CFO Mimi Eckel Vaughn as COO - Genesco announced that Mimi Eckel Vaughn, currently the company's senior vice president and CFO, is to be named COO of the company once her successor as chief financial officer is appointed. The company has launched a search for a new CFO.

06:52 EDT Fastenal sees FY18 tax rate 24%-26% - "We are evaluating the impacts of the Act on our 2018 provisional income tax expense booking rate. We currently estimate this rate will be in the range of 24% to 26% of earnings before income taxes."

06:48 EDT U.S. Bancorp reports Q4 net interest margin 3.08% - Net interest margin of 3.08% for the fourth quarter of 2017 was 10 basis points higher than the fourth quarter of 2016 and 2 basis points lower than the third quarter of 2017.

06:47 EDT U.S. Bancorp reports Q4 return on average assets of 1.46% - Return on average assets of 1.46% and return on average common equity of 14.7% (1.33% and 13.4%, respectively, excluding notable items)

06:44 EDT EU passenger car registrations down 4.9% in December - In December, new passenger car registrations in the EU fell by 4.9%, totaling 1,088,498 units, mainly the result of the fact that December had one working day less in 2017 than in the preceding year, reported the European Automobile Manufacturers Association. Nearly all major EU markets contracted, except for the Spanish one, which grew 6.2% in December. Publicly traded automakers include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).

06:41 EDT Tiffany reports Holiday sales up 8% to $1.05B - Tiffany & Co. reported that its worldwide net sales increased 8% to $1.05B in the two months ended December 31, 2017 due to growth across regions and product categories, and comparable store sales rose 5%. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, worldwide net sales rose 6% with comparable store sales up 3%. Results in the holiday period have led management to increase its net earnings guidance (which does not incorporate effects that are expected to result from recent revisions to the U.S. tax code, as discussed in more detail below) for the year ending January 31, 2018 .

06:34 EDT Gemphire Therapeutics completes patient enrollment in SHTG trial - Gemphire Therapeutics has achieved its enrollment goal of 90 subjects across 39 sites in its Phase 2b INDIGO-1 trial investigating gemcabene in severe hypertriglyceridemia patients. The company remains on track to report top-line results from the study in 2Q18. The company expects to announce top-line data in 2Q18. INDIGO-1 is a 12 week trial in patients with SHTG - TG greater than or equal to 500mg/dL - with or without background statin therapy. The primary endpoint is triglyceride reduction from baseline after 12 weeks. Gemphire estimates there are approximately 3.5 million patients with SHTG in the United States and 75 million patients in the rest of the world, whom are at risk for developing acute pancreatitis.

06:20 EDT Kapersky Lab says finds Android spying app called 'Skygofree' - According to Kapersky Lab, "At the beginning of October 2017, we discovered new Android spyware with several features previously unseen in the wild. In the course of further research, we found a number of related samples that point to a long-term development process. We believe the initial versions of this malware were created at least three years ago - at the end of 2014. Since then, the implant's functionality has been improving and remarkable new features implemented, such as the ability to record audio surroundings via the microphone when an infected device is in a specified location; the stealing of WhatsApp messages via Accessibility Services; and the ability to connect an infected device to Wi-Fi networks controlled by cybercriminals.We observed many web landing pages that mimic the sites of mobile operators and which are used to spread the Android implants. These domains have been registered by the attackers since 2015. According to our telemetry, that was the year the distribution campaign was at its most active. The activities continue: the most recently observed domain was registered on October 31, 2017. Based on our KSN statistics, there are several infected individuals, exclusively in Italy. Moreover, as we dived deeper into the investigation, we discovered several spyware tools for Windows that form an implant for exfiltrating sensitive data on a targeted machine. The version we found was built at the beginning of 2017, and at the moment we are not sure whether this implant has been used in the wild. We named the malware Skygofree, because we found the word in one of the domains." According to researchers, the Skygofree Android implant is " one of the most powerful spyware tools that we have ever seen for this platform. As a result of the long-term development process, there are multiple, exceptional capabilities: usage of multiple exploits for gaining root privileges, a complex payload structure, never-before-seen surveillance features such as recording surrounding audio in specified locations. Given the many artifacts we discovered in the malware code, as well as infrastructure analysis, we are pretty confident that the developer of the Skygofree implants is an Italian IT company that works on surveillance solutions, just like HackingTeam." Reference Link

06:07 EDT Tutor Perini subsidiary awarded three new projects for $67M - Tutor Perini's subsidiary Roy Anderson has recently been awarded three new projects: two Hotel Projects at Liberty Station, San Diego, California, for a combined contract value of $50M; and The National WWII Museum Hall of Democracy in New Orleans, for approx. $17M. The contract values have been added to the company's backlog in 4Q17.

06:03 EDT GE: Peter Stracar to succeed Mark Hutchinson as President and CEO of GE Europe - GE announces the appointment of Peter Stracar as President & CEO of GE's European region. He succeeds Mark Hutchinson who announced his retirement from GE effective Jan 1. Peter will report to Alex Dimitrief, President & CEO of GE's Global Growth Organization. Prior to his current role, Peter has been the CEO of GE Central and Eastern Europe since 2013, responsible for GE's growth strategy and leading a team of more than 20,000 people across manufacturing, sourcing, sales and other functions. During his tenure in CEE, he developed and executed a shared growth strategy for all the GE businesses helping to drive steady growth year on year under his leadership. A native of the Czech Republic, he previously was President of Hilti Corporation's Asia Pacific business, based in Hong Kong.

05:42 EDT Ingersoll-Rand, Mitsubishi Electric establish JV for ductless and VRF systems - Ingersoll-Rand (IR) and Mitsubishi Electric (MIELY) announce they have entered into an agreement to establish a 50 percent-50 percent joint venture pending global antitrust review. The new joint venture will include marketing, sales and distribution of ductless and variable refrigerant flow, or VRF, heating and air conditioning systems through Ingersoll Rand's Trane and American Standard commercial and residential channels, and existing Mitsubishi Electric distributors and representatives in the United States and select countries in Latin America. The systems sold by the joint venture will be highly efficient, variable-speed mini-split, multi-split, and VRF air conditioners and heat pumps for homes, light commercial and commercial applications. The joint venture will distribute products with the Trane or American Standard brand and the Mitsubishi Electric corporate logo to Ingersoll Rand channels. The joint venture will also continue to serve Mitsubishi Electric US distributors and representatives with Mitsubishi Electric branded product.

05:36 EDT Walmart launches opioid disposal solution - In an effort to help curb abuse and misuse, Walmart is launching a first-of-its kind opioid disposal solution - available at no cost - in all company pharmacies. Known as DisposeRx, the small packet contains ingredients that, according to the manufacturer, when emptied into a pill bottle with warm water, ultimately enable patients to responsibly dispose of leftover medications in their trash. According to the Substance Abuse and Mental Health Services Administration and the National Institute of Drug Abuse, more than 65 percent of people misusing prescription opioids are getting them from family and friends, and personal prescriptions are one of the main sources of nonmedical opioid abuse. DisposeRx provides a virtually effortless way for patients to destroy leftover opioids and a way to do so without ever leaving home. Beginning immediately, patients filling any new Class II opioid prescription at Walmart pharmacies will receive a free DisposeRx packet and opioid safety information brochure when picking up their prescription. Patients with chronic Class II opioid prescriptions will be offered a free DisposeRx packet every six months. Existing pharmacy patients can also request a free DisposeRx packet at any time, including at the upcoming Walmart Wellness Day event on January 20 from 10 a.m. to 2 p.m. local time at all Walmart locations nationwide. Additionally, Sam's Club patients can access Dispose Rx at their pharmacies.