Stockwinners Market Radar for January 19, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:59 EDT Willis Lease announces $1,000 bonus for employees - Willis Lease announced that it has given all non-executive employees a one-time bonus of $1,000 as a result of the tax laws recently passed by the United States Congress and signed into law by President Donald Trump.

17:53 EDT Vintage Capital in standstill pact with Rent-A-Center - On January 17, Vintage Capital and Rent-A-Center entered into a customary confidentiality and non-disclosure agreement regarding any non-public information that may be received by Vintage Capital or its affiliates in connection with a possible transaction involving Rent-A-Center. The confidentiality agreement includes a standstill provision that generally lasts for a period of 12 months from the date of the Confidentiality Agreement. Vintage Capital holds a 5.9% stake in Rent-A-Center.

17:41 EDT Celgene's Abraxane exceeds primary endpoint target in pancreatic cancer trial - Celgene announced primary endpoint findings and updated results of secondary endpoints from the phase II international LAPACT trial of Abraxane plus gemcitabine in patients with locally advanced pancreatic cancer. An analysis of patients with newly diagnosed, locally advanced pancreatic cancer treated with up to 6 cycles of Abraxane plus gemcitabine as an investigational induction therapy found that patients had a median time to treatment failure of 8.8 months, which exceeded the protocol-specified target of 6.6 months. Secondary endpoints included evaluation of the disease control rate, overall response rate, progression free survival and overall survival in patients treated with an Abraxane plus gemcitabine induction therapy. One or more treatment emergent adverse event occurred in 99% of patients during induction. The most common adverse events were neutropenia, anemia and fatigue. In this prospective, phase II trial conducted in the US, Canada and Europe, patients with protocol-defined locally advanced, unresectable pancreatic cancer received an induction regimen of up to 6 cycles of Abraxane plus gemcitabine, followed by the investigator's choice of either continuation of the Abraxane plus gemcitabine regimen, treatment with chemoradiation, or surgery. More than half of patients completed the induction phase with Abraxane plus gemcitabine treatment. Forty two percent of patients did not complete induction treatment and the reasons for treatment discontinuation during induction included adverse events, progressive disease, protocol non-compliance, physician decision, death and other reasons.

17:39 EDT Value Line declares special dividend of 20c per share - Payable on March 9 to stockholders of record on February 23.

17:29 EDT Genmab says FDA grants priority review for daratumumab - Genmab (GNMSF) announced that the U.S. Food and Drug Administration has granted Priority Review to the supplemental Biologics License Application for the use of daratumumab in combination with bortezomib, melphalan and prednisone for the treatment of patients with newly diagnosed multiple myeloma who are ineligible for autologous stem cell transplant. The sBLA was submitted by Genmab's licensing partner, Janssen Biotech (JNJ), in November 2017. Priority Review is an FDA designation for drugs that treat a serious condition and may provide a significant improvement in safety or efficacy. The FDA has assigned a Prescription Drug User Fee Act (PDUFA) target date of May 21, 2018 to take a decision on daratumumab in this indication. In August 2012, Genmab granted Janssen Biotech, Inc. an exclusive worldwide license to develop, manufacture and commercialize daratumumab.

17:20 EDT BAE Systems, General Dynamics awarded $237.6M government contract modification - BAE Systems (BAESY) San Diego Ship Repair, San Diego, Californa; Continental Maritime of San Diego, San Diego, California; and General Dynamics (GD) National Steel and Shipbuilding Co., San Diego, California, are being awarded firm-fixed-price modifications under previously awarded indefinite-delivery/indefinite-quantity, multiple-award contracts to exercise option period two for complex, emergent and continuous maintenance and Chief of Naval Operations availabilities on surface combatants homeported in San Diego, California. The option period two estimated cumulative value is $237,654,941. The Southwest Regional Maintenance Center, San Diego, California, is the contracting activity.

17:07 EDT Twitter says has identified more IRA and automated Russia-based accounts - In a statement on its corporate blog, Twitter said: "Twitter is committed to providing a platform that fosters healthy civic discourse and democratic debate. We have been cooperating with congressional investigations into Russian interference in the 2016 U.S. presidential election. We have committed to be as transparent as possible about sharing what we have learned through our retroactive investigation into activity related to the election." Reference Link

16:43 EDT Broadcom receives second request from FTC for proposed Qualcomm deal - Broadcom (AVGO) announced that it has received a request for additional information and documentary material from the Federal Trade Commission in connection with Broadcom's proposed acquisition of Qualcomm Incorporated (QCOM). The Second Request was expected as a normal part of the regulatory approval process. Second Requests are common in similar transactions, and this signifies that Broadcom is moving into the next stage of the U.S. antitrust review process. The effect of the Second Request is to extend the 30-day waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Broadcom may not close the proposed acquisition until 30 days after it has substantially complied with the request, unless that period is extended voluntarily by Broadcom or terminated sooner by the FTC. Broadcom is cooperating fully with the FTC staff to obtain regulatory approval for the proposed transaction on a timely basis. On November 6, 2017, Broadcom proposed to acquire all of the outstanding shares of Qualcomm for per share consideration of $70.00 in cash and stock, consisting of $60.00 in cash and $10.00 in Broadcom shares. Broadcom's offer represents a 28% premium over the closing price of Qualcomm's common stock on November 2, 2017, the last unaffected trading day prior to media speculation regarding a potential transaction, and a premium of 33% to Qualcomm's unaffected 30-day volume-weighted average price. The Broadcom proposal stands whether Qualcomm's pending acquisition of NXP Semiconductors N.V. (NXPI) is consummated on the currently disclosed terms of $110 per NXP share or is terminated. Broadcom expects that the proposed transaction would be completed within approximately 12 months following the signing of a definitive agreement.

16:31 EDT Andeavor Logistics raises quarterly cash distribution to $1.00 per unit - The fourth quarter distribution will be paid February 14 to all unitholders of record as of January 31.

16:21 EDT Morgan Stanley reports 5% passive stake in Apollo Global - In a regulatory filing, Morgan Stanley (MS) disclosed a 5% stake in Apollo Global (APO), representing 9,790,112 shares. The filing does not allow for activism.

16:17 EDT Sanmina adopts consolidated restructuring plan - On January 12, the Company adopted a consolidated restructuring plan impacting three of its manufacturing facilities. As a result of this plan, the Company expects to incur restructuring charges of approximately $25M-$35M over the period of the consolidated restructuring plan, all of which is expected to be cash. In connection with this plan, the Company expects to record charges in its first quarter of fiscal 2018 of approximately $15M-$25M, consisting of severance and retention pay for affected employees to be paid over the period of the consolidated restructuring plan. The Company expects to complete the actions taken under this plan through the first quarter of fiscal 2020. The Company will continue to evaluate the consolidated restructuring plan, and any further actions that may be required under it, which could cause the Company to incur additional restructuring charges related to this plan in the future.

16:06 EDT Capella Education shareholders approve proposed merger with Strayer - Capella Education (CPLA) announced that at a special meeting this morning, its shareholders approved a proposal to effect the previously announced merger between Capella Education Company and Strayer Education (STRA). As a result of the proposed merger, Strategic Education will be the corporate entity under which both Capella University and Strayer University will continue to operate as independent and separately accredited institutions. Together, the two universities will serve approximately 80,000 students across all 50 states. The combination is expected to achieve corporate level efficiencies that will enable each university to accelerate innovations that improve affordability, and enhance academic and career outcomes for students. The proposed merger, which is anticipated to close in the third quarter of 2018, is subject to the satisfaction of customary closing conditions, including approvals by the Department of Education, State regulators, and relevant accreditation bodies.

15:59 EDT Bunge jumps 10% after report of Archer Daniels takeover interest

15:35 EDT Hugoton Royalty Trust trading halted, news pending

14:25 EDT BlackRock reports 12.6% passive stake in Sleep Number - In a regulatory filing, BlackRock (BLK) disclosed a 12.6% stake in Sleep Number (SNBR), representing 5,009,987 shares. The filing does not allow for activism.

14:04 EDT BlackRock reports 12.6% passive stake in Circor - In a regulatory filing, BlackRock (BLK) disclosed a 12.6% stake in Circor (CIR), representing 2,079,907 shares. The filing does not allow for activism.

14:02 EDT BlackRock reports 10.2% passive stake in BancorpSouth - In a regulatory filing, BlackRock (BLK) disclosed a 10.2% stake in BancorpSouth (BXS), representing 9,251,355 shares. The filing does not allow for activism.

13:13 EDT Baker Hughes reports U.S. rig count down 3 to 936 rigs - Baker Hughes reports that the U.S. Rig Count is down 3 rigs from last week to 936, with oil rigs down 5 to 747, gas rigs up 2 to 189, and miscellaneous rigs unchanged. The U.S. Rig Count is up 242 rigs from last year's count of 694, with oil rigs up 196, gas rigs up 47, and miscellaneous rigs down 1 to 0. The U.S. Offshore Rig Count is unchanged at 19 rigs and down 5 rigs year-over-year. The Canada Rig Count is up 49 rigs from last week to 325, with oil rigs up 23 to 208 and gas rigs up 26 to 117. The Canada Rig Count is down 17 rigs from last year's count of 342, with oil rigs up 15 and gas rigs down 32.

13:05 EDT Baker Hughes reports U.S. rig count down 3 to 936 rigs

12:31 EDT NuCana resumes, up 43% to $20.81 after reporting data on Acelarin

12:28 EDT EA in focus after NPD says 'Battlefront II' second-best selling game in December - Shares of Electronic Arts (EA) were marginally higher after the NPD Group said that its latest "Star Wars" game was the second best selling game in the U.S. in December, following disappointing sales in its launch month of November. WHAT'S NEW: According to VentureBeat, the NPD Group said that EA's "Star Wars Battlefront II" was the second best selling game in the U.S. in December, just behind Activision Blizzard's "Call of Duty: WWII." NDP also noted that "Battlefront II" was the eighth best selling game of 2017, making it the second best selling EA game of the year behind "Madden NFL 18." WHAT'S NOTABLE: Last week, Morgan Stanley analyst Brian Novak downgraded Electronic Arts to Equal Weight from Overweight after disappointing "Battlefront II" third party data led him to lower his unit estimate for the game in Q3 to 10M from 13M. Novak added that he doesn't expect any microtransactions from the game until Q4 and that any roll out of microtransactions will be heavily scrutinized after the issues already experienced by the game. The downgrade followed an upgrade by BMO Capital analyst Gerrick Johnson, who said that the decline in EA's stock price from consumer pushback on in-game monetization in "Star Wars Battlefront II" was overdone. PRICE ACTION: In early afternoon trading, EA shares are up marginally to $115.51. OTHERS TO WATCH: After the NPD report, Activision Blizzard shares rose 1.3% and Take-Two (TTWO) was 0.5% higher.

12:16 EDT Asta Funding receives Nasdaq non-compliance letter - Asta Funding announced that on January 18, 2018, it received a Delinquency Compliance Plan Alert Letter from Nasdaq stating that the company was not in compliance with Nasdaq Listing Rule 5250c1, because it has not timely filed its Annual Report on Form 10-K for the period ended September 30, 2017. In the Letter, Nasdaq indicated that the company has 60 calendar days to submit a plan to regain compliance. If such a plan is timely submitted by the Company, the Nasdaq staff may grant the company up to 180 calendar days from the due date of the Form 10-K, or until July 16, 2018, to regain compliance. The company does not currently expect that the submission of a compliance plan will be necessary because the company anticipates that it will file the Form 10-K prior to the expiration of the 60-day period. The company expects that it will fully regain compliance with the Nasdaq continued listing requirements upon the filing of the Form 10-K. As previously stated, the company will file the Form 10-K as soon as reasonably practicable.

12:15 EDT Momenta jumps 14%, halted after report of exploration of possible sale

12:03 EDT American National Bankshares announces 300,000 share repurchase program - American National Bankshares, parent company of American National Bank and Trust Company, announced that the board of directors has authorized a stock repurchase program of up to 300,000 shares of the company's outstanding common stock for a period of two years.

12:01 EDT NuCana reports 'promising' clinical data on Acelarin - NuCana announced interim results from the ABC-08 Study at the 2018 ASCO Gastrointestinal Cancer Symposium in San Francisco, CA. This analysis of the Phase 1b multi-center, open-label study showed that Acelarin, when combined with cisplatin, achieved high response rates and was well-tolerated in front-line advanced biliary tract cancer. Eight patients with advanced biliary tract cancer received Acelarin and cisplatin on days one and eight of a three-week cycle. A Complete Radiological Response was achieved in one patient, a Partial Response in three patients, and Stable Disease in one patient, resulting in an Objective Response Rate of 50% and a Disease Control Rate of 63% on an intent-to-treat basis. Additionally, the one patient with Stable Disease, whose cancer initially had been considered unsuitable for surgical resection, went on to have surgery to remove the tumor completely. Two of the eight patients received only one cycle or less of therapy due to complications unrelated to either Acelarin or cisplatin, so the Objective Response Rate in those patients who received adequate treatment was 67%. "Although this is only an interim analysis in a small number of patients, these data are very encouraging and suggest that the combination of Acelarin and cisplatin could represent a significant advance in the treatment of advanced biliary tract cancer, a devastating disease for which there are no approved medicines," remarked Professor Juan Valle, Co-Chief Investigator of the ABC-08 Study and Professor and Honorary Consultant in Medical Oncology at the University of Manchester and The Christie, Manchester, United Kingdom.

11:52 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly: 1. CHINA CRACKDOWN: China is ramping up its regulations on online platforms and mobile apps that offer cryptocurrency exchange-like services, Bloomberg reported Monday. The government is planning to block domestic access to domestic and offshore platforms that allow centralized trading. In addition, authorities are expected to target individuals and companies that offer market-making, settlement and clearing services for centralized trading, the news service stated. 2. CRYPTO SELLOFF: Bitcoin fell below $10,000 on Wednesday to $9,199.59 with more than $30B of value being wiped off the cryptocurrency over a period of 24 hours, CNBC reported. Bitcoin, which slightly recovered, dropped as digital asset rivals ethereum and ripple also moved lower by 15% and 14% respectively. The moves came amid concerns that South Korea was still considering a shutdown of cryptocurrency trading and China was planning to block access to cryptocurrency platforms that allow centralized trading. 3. BITCOIN MAY "HALF AGAIN": Following Bitcoin's drop in value, Citi analysts said bitcoin could continue lower and half again, adding the cryptocurrency could possibly drop to $5,605-$5,673, Reuters reported Wednesday. 4. SEC RAISES CONCERNS ON ETFS: The Securities and Exchange Commission's division of investment management issued a letter to two trade groups on Thursday demanding information on how bitcoin-based mutual funds or exchange-traded funds would store, protect and price the asset. The division also questioned whether investors can understand the risks and how concerns over bitcoin market manipulation can be addressed. "There are a number of significant investor protection issues that need to be examined before sponsors begin offering these funds to investors," the letter said. 5. BOFA SAYS NO TO BITCOIN: Bank of America (BAC) clients are welcome to purchase bitcoin and other digital currencies but not through the bank's Merrill Lynch unit, Bloomberg reported Tuesday. "We have limited our relationships and I think the thing speaks for itself," CEO Brian Moynihan said. "We've basically told people that they could buy it in other accounts, but not at Merrill Lynch. And so it's just our view that customers should be careful here." He added the bank is concerned over the anonymity of the cryptocurrency. The move came after Merrill Lynch previously told staff not to offer clients Grayscale's Bitcoin Investment Trust. 6. MORGAN STANLEY CLEARS FUTURES: Morgan Stanley (MS) CFO Jonathan Pruzan said that the bank has been facilitating Bitcoin futures contracts for big institutional clients, Bloomberg reported Thursday. "If someone wants to do a trade on the futures and settle in cash, we'll do that," he said. "I wouldn't say it's been a lot of activity, but it's for core institutional clients who want to participate in a derivatives transaction." Prior to the move, Goldman Sachs (GS) was the only major Wall Street firm to offer the service. 7. VISA WON'T PROCESS TRANSACTIONS: Visa (V) CEO Alfred Kelly said he does not view bitcoin as a "payment system player," CNBC reported Wednesday. He said, "We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions...My take is that bitcoin is much more today a commodity that somebody could invest in; and honestly, somewhat of a speculative commodity." 8. CRYPTO CHATTER: Fundstrat's Tom Lee predicted that bitcoin will more than double to $25,000 by year end and will reach $125,000 by 2022, CNBC reported Thursday. "We expect bitcoin's major low to be $9,000, and we would be aggressive buyers around that level," Lee said. "We view this $9,000 as the biggest buying opportunity in 2018." Meanwhile, Nobel Prize-winning economist Robert Shiller said the cryptocurrency may "totally collapse," CNBC reported Friday. "It has no value at all unless there is some common consensus that it has value. Other things like gold would at least have some value if people didn't see it as an investment...Bitcoin might totally collapse and be forgotten and I think that's a good likely outcome but it could linger on for a good long time, it could be here in 100 years." 9. CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock (OSTK), Digital Power (DPW), Long Blockchain (LBCC), Kodak (KODK), Seven Stars Cloud Group (SSC), Riot Blockchain (RIOT), Longfin (LFIN), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin was down roughly 14% this week to $11,680 in U.S. dollars according to CoinDesk. Meanwhile, Long Blockchain dropped 13.5%, Riot Blockchain fell 18.2%, Longfin dropped 21.6%, Parateum was down 16.9% and Social Reality fell 25.3%, all on a weekly basis. Bitcoin Investment Trust (GBTC) rose about 1% this week to $1,834. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

11:50 EDT Tyme Technologies reports 'positive' efficacy data for SM-88 - Tyme Technologies announced efficacy and safety data for SM-88 in patients with advanced metastatic or recurrent pancreatic cancer. The data were presented today in a poster presentation at the 2018 American Society of Clinical Oncology Gastrointestinal Cancers Symposium in San Francisco, California. "We are encouraged by the early efficacy signals demonstrated by SM-88 without report of drug-related serious adverse events in pancreatic cancer, a devastating disease that lacks safe and effective treatment options," said Giuseppe Del Priore, M.D., Chief Medical Officer of Tyme. "We look forward to exploring SM-88 in a larger prospective Phase II trial this year in pancreatic cancer patients who have failed prior therapy." Data from 10 pancreatic cancer patients treated with SM-88 in Tyme's First Human Study or compassionate use program were evaluated for overall survival, overall response rate, progression-free survival, Eastern Cooperative Oncology Group performance status and pain scores.

11:31 EDT Street Fight: JPMorgan cuts BNY Mellon on tax reform moves, MS upgrades - Shares of Bank of New York Mellon (BK) were higher in late morning trading after slipping approximately 5% Thursday following the bank said on its quarterly conference call that it plans to spend the lion's share of tax reform gains on increasing the minimum wage of its U.S. employees and technology upgrades. In response, JPMorgan downgraded the stock, saying such moves will result in "sizable" restructuring charges, while Morgan Stanley upgraded BNY Mellon, saying the reaction to such investments is overblown. WHAT'S NEW: Following BNY Mellon's fourth quarter earnings report yesterday, the bank's executives said that nearly all of this year's benefits from the new U.S. tax law will go to technology upgrades and its workers instead of shareholders. Such moves, according to the Wall Street Journal, include a raise in the minimum wage to $15 an hour starting March 1 mostly for employees in the company's operations unit. The wage increase will affect roughly 1,000 of the bank's 52,500 employees, the Journal noted. JPMORGAN DOWNGRADE: Commenting on the moves in response to the new tax law, JPMorgan analyst Vivek Juneja downgraded BNY Mellon to Underweight from Neutral, saying that while new Chief Executive Officer Charles Scharf is making the right moves for the long term, such actions will result in "sizable" restructuring charges in 2018. The analyst added that he was also downgrading the stock because the tax overhaul will not materially boost the bank's earnings in the near term, because revenues are pressured in certain businesses, and that valuation is well above long term averages in light of the need to invest in technology. Juneja said he believes that the bank needs to continue to invest in technology to offset pricing pressure and maintain leadership position in the servicing business. MORGAN STANLEY UPGRADE: On the other side, Morgan Stanley analyst Betsy Graseck upgraded BNY Mellon to Overweight from Equal Weight and raised her price target on shares to $64 from $60. Graseck said that the negative stock reaction to the bank's planned increase in investment spending is overblown, and that "tech-focused" Scharf understands that major digital investments are required the drive the next leg of operating leverage in the custody space. The analyst said that such moves should drive share gains for the stock and should be positive in the medium term. Graseck previously highlighted, however, that Scharf could slow the pace of operating leverage and lower taxes provide an excellent opportunity to reinvest in the business without sacrificing EPS growth, she said. PRICE ACTION: In late morning trading, shares of BNY Mellon are up roughly 1.2% to $56.01.

11:01 EDT Kohl's shares could rally 50% from 'win-win' partnership with Amazon - Shares of Kohl's Corp (KSS) rallied in morning trading after an analyst called the retailer's partnership with Amazon (AMZN) a "win for both companies" and said Kohl's stock could rise another 50% or more. JEFFERIES ANALYST EXPRESSES OPTIMISM: Jefferies analyst Randal Konik raised his price target for Kohl's stock to $100 from $66 and said the stock could rally at least another 50%. In a note to clients, Konik asid Kohl's is "addressing the digital revolution head on" and beating rivals with its emphasis on proprietary brands, rightsizing its square footage and its partnership with Amazon. Konik said Kohl's partnership with Amazon is "sleeping with the enemy," but believes their agreement is a "win for both companies." He expects the pilot to roll out nationally, allowing Kohl's stores to see stronger traffic and "a nice added convenience" for Amazon customers. Konik also said he expects Kohl's sales growth to accelerate and margins to rise, and views current consensus estimates as "way too low." The company's off-mall real estate is an additional positive, as is the closing of peer stores, Konik added. WHAT'S NOTABLE: In order to combat weakness stemming from the increasing popularity of fast-fashion retailers and an increase in online shopping on sites like Amazon Kohl's is currently offering free Amazon returns in 82 stores. The retailer previously announced plans to roll out a "smart home experience" in 10 stores across the Los Angeles and Chicago areas. Shoppers at these stories are able to purchase Amazon devices, accessories and smart home devices and services directly from Amazon. Kohl's said 1,000-square-foot "zones" within its stores will be dedicated to Amazon products, including the Echo, Echo Dot, Fire TV and Fire tablets. Kohl's has also partnered with Under Armour (UA, UAA), Nike (NKE) and adidas (ADDYY) to sell the companies' shoes and apparel in Kohl's stores. Earlier this month, Kohl's CEO told CNBC at ICR's conference that the retailer plans to lease portions of its bigger stores to other retailers like grocery stores. The retailer is also testing smaller store formats of about 35,000 square feet. PRICE ACTION: Kohl's is up 2.8% to $66.66 in morning trading.

10:21 EDT InspireMD reports independent publication highlighting advantages of CGuard EPS - InspireMD announced the publication of an independent observational study conducted by Tomoyuki Umemoto, MD and colleagues in the December 2017 issue of the journal EuroIntervention demonstrating the advantage of CGuard EPS in reducing stent plaque prolapse in carotid artery stenting patients. As introduction to this OCT study, an editorial appeared in the same EuroIntervention issue, authored by Professor Piotr Musialek, Jagiellonian University Department of Cardiac & Vascular Diseases, John Paul II Hospital, Krakow, Poland, and Prof Eugenio Stabile, Division of Cardiology, Department of Advanced Biomedical Sciences, University of Naples "Federico II", Naples, Italy. The editorial authors state: "With conventional carotid stenting, plaque prolapse occurs via the 'cheese-grater' effect." They go on to highlight the permanent protective role of CGuard EPS, the unique MicroNet covered carotid stent, which already demonstrated neuro-protection in the CARENET Study. The editorial authors noted that the competing device had a two-fold greater risk of plaque prolapse compared with CGuard in the OCT frames analysis. The company also announced that it has received notice from the NYSE American LLC that, due to the company's current low selling share price, the company's continued listing on the NYSE American is contingent upon the company effecting a share consolidation or otherwise demonstrating a sustained improvement in its share price within the next six months but not longer than July 16, 2018

09:54 EDT Investors Title Company trading resumes

09:52 EDT Nestle nominates three new members to board, including adidas, Inditex CEOs - Nestle last night announced that it proposes Pablo Isla, CEO of Inditex; Kasper Rorsted, CEO of adidas; and Kimberly Ross, former CFO of Baker Hughes (BHGE), for election to its Board of Directors. The elections will take place at the company's Annual General Meeting on April 12. At that time, three current directors, Andreas Koopmann, Steven Hoch, and Naina Lal Kidwai will retire from the Board. The Board also proposes the individual re-election of the Chairman and the other current members of the Board.

09:27 EDT Marathon Partners releases a statement regarding J. Alexander's acquisition - Marathon Partners Equity Management, which beneficially own approximately 6.3% of the common stock of J. Alexander's Holdings, issued a statement in response to leading independent proxy advisory firm Institutional Shareholder Services', or ISS, recommendation that J. Alexander's shareholders vote against the Company's proposed acquisition of 99 Restaurants. A special meeting of shareholders to vote on the proposed merger is scheduled to be held January 30. The statement began "We are deeply gratified that ISS agrees with us that J. Alexander's misguided acquisition of 99 Restaurants is not in the best interests of the Company or its shareholders and should be voted down at the upcoming Special Meeting of Shareholders on January 30th. Like Marathon Partners, ISS is not satisfied that J. Alexander's chose to proceed with a conflicted, related party transaction without having first explored all strategic alternatives to maximize value for its shareholders. ISS further recognizes that the market reaction to the proposed merger has been sharply negative as reflected by J. Alexander's share price, clearly illustrating shareholders' opposition to becoming minority shareholders of a controlled, small-cap company."

09:14 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: eMagin (EMAN), up 9.1%... Mellanox (MLNX), up 6.6%... Citizens Financial (CFG), Regions Financial (RF), and SunTrust Banks (STI) were up marginally after reporting quarterly results. ALSO HIGHER: Facebook (FB), up marginally after its WhatsApp unit announced a new WhatsApp Business app... Abercrombie & Fitch (ANF), up 2.1% after being to Buy from Hold at Argus... Nike (NKE), up 1.7% after being upgraded to Outperform from Neutral at Wedbush... Golden Entertainment (GDEN), up 1.2% after its 6.5M share Secondary priced at $28.00. DOWN AFTER EARNINGS: Schlumberger (SLB), down 3.1%... Synchrony (SYF), down 2.1%... IBM (IBM), down 3.1%... American Express (AXP), down 3.2%. ALSO LOWER: Agios Pharmaceuticals (AGIO), down 1% after its 7.09M share Secondary priced at $67.00... Obalon Therapeutics (OBLN), down 12.9%... Apple (AAPL), down fractionally after CNBC reported that South Korean consumer group Citizens United for Consumer Sovereignty has filed a criminal complaint against Apple CEO Tim Cook.

09:05 EDT Schlumberger says only M&A deal its currently pursuing is Eurasia in Russia

09:03 EDT Synchrony expects to realize 'significant' benefits from tax reform - Synchrony (SYF) said on its Q4 earnings conference call that it expects to realize "significant" benefits from tax reform. Commenting on the agreement with PayPal (PYPL), Synchrony said it's "extremely pleased" to extend the relationship. Expects loyalty program expense to trend near 100%, with some quarterly fluctuation. Expects expenses going forward to be largely driven by growth, including strategic investments and direct deposit program. The company expects credit continues to normalize from here and the impact on its results to moderate. Long-term, Synchrony expects to grow deposits in line with receivables growth. Expects loan loss reserve builds in Q1 to be in the $200M-$225M range. Sees effective tax rate in the 24%-25% range going forward. Comments taken from the Q4 earnings conference call. Synchrony Financial is down 2.6% in pre-market trading.

09:00 EDT Schlumberger says sees Q1 as 'transitory' for earnings - Says sees seasonal decline of 2c-3c worse than normal.

08:38 EDT Schlumberger says will still collect what is owed in Venezuela

08:32 EDT MoviePass announces MoviePass Ventures to co-acquire films - MoviePass, a majority-owned subsidiary of Helios and Matheson Analytics, announced MoviePass Ventures, a wholly-owned subsidiary founded to co-acquire films with film distributors. The announcement was made at The Sundance Film Festival during MoviePass' content series Off-Script: The Future of Film to a room of filmmakers, producers, directors, investors, distributors, and other industry executives. MoviePass is currently purchasing approximately 3% of domestic box office. However, it is purchasing in excess of 10% of a particular title's domestic box office when it uses a series of levers within its app and marketing-based platform to impact a consumer's selection of a particular independent film. Examples of having impacted 10%+ box office performance include: The Post, Three Billboards Outside of Ebbing, Missouri, Call Me By Your Name and The Shape of Water.

08:29 EDT AstraZeneca reports Fasenra receives approval in Japan - AstraZeneca and its global biologics research and development arm, MedImmune, announced that the Japanese Ministry of Health, Labor and Welfare has approved Fasenra as an add-on treatment for bronchial asthma in patients who continue to experience asthma exacerbations despite treatment with high-dose inhaled corticosteroid and other asthma controllers. The Japanese approval follows US FDA approval in November 2017 and European Commission marketing authorization in January 2018. Interactions with regulatory authorities in the rest of the world are ongoing, the company noted.

08:14 EDT Synchrony comments on 2018 outlook in presentation slides - Synchrony's (SYF) 2018 outlook excluding the PayPal (PYPL) credit portfolio includes 5%-7% loan receivables growth, about 16.25% NIM, 4.2%-4.4% RSAs/average receivables, 5.5%-5.8% net charge-off rate, about 31% efficiency ratio and 2.5%+ ROA. With the PayPal credit portfolio, Synchrony's 2018 outlook includes 13%-15% loan receivables growth, 15.75%-16% NIM, 4.2%-4.4% RSAs/average receivables, 5.5%-5.8% net charge-off rate, 31% efficiency ratio and about 2.5% ROA. Comments taken from Synchrony's Q4 earnings call presentation slides.

08:08 EDT Schlumberger CEO: Oil market to continue to see strong growth in demand in 2018 - Earlier, Schlumberger CEO Paal Kibsgaard commented, "Looking at the oil market, the strong growth in demand is projected to continue in 2018, on the back of a robust global economy. On the supply side, the extension of the OPEC- and Russia-led production cuts is already translating into higher-than-expected inventory draws. In North America, 2018 shale oil production is set for another year of strong growth, as the positive oil market sentiments will likely increase both investment appetite and availability of financing. At the same time, the production base in the rest of the world is showing fatigue after three years of unprecedented underinvestment. The underlying signs of weakness will likely become more evident in the coming year, as the production additions from investments made in the previous upcycle start to noticeably fall off. All together this means the oil market is now in balance and the previous oversupply discount is gradually being replaced by a market tightness premium, which makes us increasingly positive on the global outlook for our business. These positive oil market sentiments are reflected in the third-party E&P spend surveys, which predict 15-20% growth in North American investments in 2018, while the international market is expected to grow for the first time in four years, with a projected 5% increase in spend. So, as we enter the first year of growth in all parts of our global operations since 2014, there is renewed excitement and enthusiasm throughout our organization, and we remain committed to delivering market-leading products and services to our customers, and superior returns to our shareholders."

08:07 EDT Neptune Technologies announces research agreement - Neptune Technologies announced an exclusive research agreement with the purpose of developing new medical and wellness targeted cannabinoid-based products, such as cannabidiol , or CBD, combined with krill oil whose combination use would be exclusive to Neptune. The new products will be aimed at the growing number of federal jurisdictions worldwide that have or will legalize cannabinoids, such as Canada, for medicinal and/or adult use.

08:06 EDT Schlumberger to exit marine and land seismic acquisition market - Earlier, Schlumberger CEO Paal Kibsgaard commented, "Over the past three years of unprecedented market downturn, we have proactively sought to strengthen our technology offering and our market presence in key markets around the world, with the expansion of our hydraulic fracturing presence in North America land being the most recent example. In line with the challenging business environment over the same period, we have restructured all relevant parts of the company, in terms of size and organizational set-up, to maximize our market competitiveness and operational agility. With the significant changes seen in customer priorities and buying habits in recent years, we have also continued to evaluate the present and future return prospects for all of our product lines, as we look to maximize all aspects of the Company's long-term financial performance. Based on this in-depth analysis, the only product line that does not meet our return expectations going forward, even factoring in an eventual market recovery, is our seismic acquisition business. We have therefore taken the difficult decision to exit the marine and land seismic acquisition market, and instead turn our WesternGeco product line into an asset-light business, built on our leading position within multiclient, data processing, and geophysical interpretation services."

08:03 EDT Sierra Bancorp increases dividend 14% to 16c - Sierra Bancorp, parent of Bank of the Sierra, announced that its Board of Directors has declared a regular quarterly cash dividend of 16c per share, which represents an increase of 2c per share, or 14%, relative to quarterly dividends paid in 2017. The dividend, which will be paid on February 15 to shareholders of record as of February 1 was approved subsequent to the Board's review of the Company's financial performance and capital strength for the quarter ended December 31, 2017.

08:02 EDT Zayo Group acquires Optic Zoo Networks for C$31M - Zayo Group Holdings announced that it has acquired Vancouver-based Optic Zoo Networks for C$31M. Optic Zoo owns and operates high-capacity fiber in Vancouver and has achieved a significant penetration of customers, with a focus on the digital media sector. The transaction strengthens Zayo's position in Vancouver and Western Canada, adding 103 route miles and more than 100 on-net buildings to Zayo's Vancouver footprint. The acquisition will deepen Zayo's customer base, providing the ability to cross sell to a diverse group of U.S. and Canadian customers. Optic Zoo's high-count fiber, 270 on average, has ample capacity for new and existing customers. All of Optic Zoo's revenue aligns with Zayo's infrastructure-focused business segments, with the majority classified as fiber solutions. Optic Zoo is expected to generate C$1.9M in annualized EBITDA for the quarter ended March 31, 2018. Zayo expects to achieve approximately C$0.5M in annualized cost synergies by year-end 2018 after a relatively straightforward integration process. The transaction closed yesterday, January 18, 2018. Bank Street Group served as exclusive financial advisor to Optic Zoo in connection with the transaction.

07:33 EDT Lincoln National to acquire Liberty Life Assurance Company of Boston - Lincoln Financial Group has entered into a definitive agreement to acquire Liberty Life Assurance Company of Boston from Liberty Mutual Insurance Group. Upon completion of the transaction, Lincoln Financial will retain Liberty's Group Benefits business and reinsure Liberty's Individual Life and Annuity business to Protective Life Insurance Company. The acquisition, which is expected to create a single, powerful Group Benefits operation with industry-leading products, services, and capabilities, is expected to be completed in the second quarter of 2018, pending regulatory approvals and other customary closing conditions. Under the terms of the agreement, Lincoln Financial Group will pay Liberty Mutual approximately $3.3B, which consists of $1.446B total net investment for the Group Benefits business, including a purchase price of $1.021B and $425M in required capital. The remaining components of the payment to Liberty Mutual include $410M of individual life and annuity value paid by Protective Life; $1.202 billion associated with excess capital in LLAC; and $211M of tax items. The acquisition is expected to be accretive to Lincoln Financial's earnings per share in 2019, excluding integration costs, and will be financed with cash and the issuance of debt. Lincoln's shareholder buyback program will be temporarily suspended, and is expected to resume no later than the third quarter of 2018. Goldman Sachs & Co. LLC acted as financial advisor to Lincoln Financial and Wachtell, Lipton, Rosen & Katz acted as legal advisor. Barclays acted as financial advisor to Liberty Mutual, and Skadden, Arps, Slate, Meagher, & Flom LLP acted as legal advisor.

07:30 EDT Lincoln National to acquire Liberty Life Assurance Company of Boston - Lincoln Financial Group has entered into a definitive agreement to acquire Liberty Life Assurance Company of Boston from Liberty Mutual Insurance Group. Upon completion of the transaction, Lincoln Financial will retain Liberty's Group Benefits business and reinsure Liberty's Individual Life and Annuity business to Protective Life Insurance Company. The acquisition, which is expected to create a single, powerful Group Benefits operation with industry-leading products, services, and capabilities, is expected to be completed in the second quarter of 2018, pending regulatory approvals and other customary closing conditions.

07:02 EDT Lowe's announces three new appointments to Board Of Directors - Lowe's (LOW) announced that it has appointed David Batchelder, co-founder of Relational Investors, and Lisa Wardell, CEO of Adtalem Global Education, to its board of directors effective March 22. The company will nominate Batchelder, Wardell and new nominee Brian Rogers, chairman of T. Rowe Price Group (TROW) and its former chief investment officer, for election at Lowe's 2018 Annual Meeting of Shareholders.

06:48 EDT Merck reports results from phase 2 KEYNOTE-224 trial investigating KEYTRUDA - Merck announced findings from the registrational phase 2 KEYNOTE-224 trial investigating the use of KEYTRUDA, the company's anti-PD-1 therapy, in patients with advanced hepatocellular carcinoma, the most common type of liver cancer, who were previously treated with systemic therapy. Results showed an overall response rate (ORR) of 16.3% (95% CI, 9.8-24.9) (n=17/104) with KEYTRUDA as monotherapy. Data also include six-month overall survival and progression-free survival rates. The findings will be presented at the 2018 American Society of Clinical Oncology Gastrointestinal Cancers Symposium in San Francisco in an oral presentation on Friday, Jan. 19, from 1:10-1:15 p.m. PT. "There continues to be a significant need for new options in the treatment of advanced hepatocellular carcinoma," said Andrew Zhu, M.D., Ph.D., lead investigator and director of liver cancer research at Massachusetts General Hospital Cancer Center. "The durable responses observed with KEYTRUDA monotherapy in this difficult-to-treat cancer are encouraging."

06:43 EDT Citizens Financial CEO: We enter 2018 with solid momentum - "We are pleased to report another quarter of strong results to cap what has been an exceptional year for Citizens," said Chairman and CEO Bruce Van Saun. "We are executing well and running the bank better and better, as evidenced by the 6.8% year on year operating leverage, ROTCE reaching 10.4% in the fourth quarter, and consistent progress in delivering well for our customers, colleagues and communities. We enter 2018 with solid momentum, and are pleased to raise our dividend today by a further 22%."

06:40 EDT National Oilwell sees Q4 results at or above prior expectations - National Oilwell Varco announced it combined its Rig Systems and Rig Aftermarket reporting segments into a single segment called Rig Technologies during the Q4. The restructuring better aligns operations with the current and anticipated market environments, reduces administrative burden, and eliminates reported intercompany transactions between Rig Technologies' capital equipment and aftermarket operations. The Company will report Q4 and FY17 results in the new format on February 5. The Company anticipates it will recognize $120M-$140M in pre-tax restructuring charges, including facility closures, severance and inventory write-downs, and other charges during the Q4. Excluding the impact of other items, the Company expects consolidated results for the Q4 to be at or above prior expectations. The Company anticipates Rig Technologies will exceed prior guidance, Wellbore Technologies will be in-line with expectations, and Completion and Production Solutions will fall short of guidance. The shortfall in Completion and Production Solutions is due primarily to engineering challenges and delivery delays associated with a new product introduction in its Subsea Flexible Pipe business and softer than anticipated orders in its Process and Flow Technologies business.

06:38 EDT Prosperity Bancshares announces stock repurchase program - Prosperity Bancshares announced that its Board of Directors authorized a stock repurchase program under which the company may repurchase up to 5%, or approximately 3.47M shares, of its outstanding common stock over a two-year period expiring on January 16, 2020, at the discretion of management.

06:36 EDT Merck, AstraZeneca: LYNPARZA receives approval in Japan - AstraZeneca (AZN) and Merck (MRK), announced that the Japanese Ministry of Health, Labour and Welfare has approved LYNPARZA tablets (300mg twice daily) for use as a maintenance therapy for patients with platinum-sensitive relapsed ovarian cancer, regardless of their BRCA mutation status, who responded to their last platinum-based chemotherapy. LYNPARZA is the first poly ADP-ribose polymerase inhibitor to be approved in Japan.

06:34 EDT Synchrony reports Q4 net interest income up 8% to $3.9B - Loan receivables grew $6 billion, or 7%, from the fourth quarter of 2016 to $82 billion. Purchase volume increased 3% from the fourth quarter of 2016 to $37 billion. Deposits grew over $4 billion, or 9%, from the fourth quarter of 2016 to $56 billion.

06:32 EDT Citizens Financial raises quarterly dividend 22% to 22c per share - The dividend is payable on February 15 to shareholders of record at the close of business on February 1.

06:06 EDT HSBC agrees to pay more than $100M to resolve fraud charges - HSBC Holdings has entered into a deferred prosecution agreement and agreed to pay a $63.1M criminal penalty and $38.4M in disgorgement and restitution to resolve charges that it engaged in a scheme to defraud two bank clients through a multi-million dollar scheme commonly referred to as "front-running," the DOJ confirmed. The DPA, which was filed in connection with a two-count criminal information charging wire fraud in the United States District Court for the Eastern District of New York, is pending review by the Court. According to HSBC's admissions, on two separate occasions in 2010 and 2011, traders on its foreign exchange desk misused confidential information provided to them by clients that hired HSBC to execute multi-billion dollar foreign exchange transactions involving the British Pound Sterling. After executing confidentiality agreements with its clients that required the bank to keep the details of their planned transactions confidential, traders on HSBC's foreign exchange desk transacted in the Pound Sterling for the traders and HSBC's own benefit in their HSBC "proprietary" accounts. In total, HSBC admitted to making profits of approximately $38.4M on the first transaction in March 2010, and approximately $8M on the Cairn Energy transaction in December 2011. HSBC did not receive credit for voluntarily disclosing the misconduct. HSBC received substantial cooperation credit because, although as detailed in the DPA, the bank's initial cooperation with the government's investigation was deficient in certain respects, after being notified of the Department's concerns, HSBC changed course and its cooperation improved substantially.

06:02 EDT Regions Financial reports Q4 net interest margin 3.32% - Up 18 basis points, and 3.33%, up 19 basis points on an adjusted basis.

05:23 EDT SEACOR Marine Holdings confirms 'Stalking Horse' bid to form JV with MOI - SEACOR Marine Holdings announced that the plan of reorganization for Montco Offshore, or MOI, was confirmed by the United States Bankruptcy Court for the Southern District of Texas, Houston Division. This plan of reorganization, among other things, provides that, under the terms of a Joint Venture Contribution and Formation Agreement, SEACOR Marine and MOI will jointly form and capitalize a new joint venture company by contributing certain liftboat vessels and other related assets to the Joint Venture, as well as requiring the Joint Venture to assume certain operating liabilities and indebtedness associated with the liftboat vessels and related assets. The Joint Venture would consolidate the ownership and operation of eleven liftboat vessels currently operated by a wholly-owned subsidiary of SEACOR Marine, six liftboat vessels currently operated by MOI, and two liftboat vessels currently operated by an existing joint venture between an affiliate of MOI and an affiliate of SEACOR Marine. The Joint Venture would assume approximately $131M of indebtedness from MOI's pre-petition facilities which, apart from a guarantee of interest payments for two years after the closing of the contemplated transactions, would be non-recourse to SEACOR Marine. Upon consummation of the transactions contemplated by the JV Contribution Agreement, it is expected that SEACOR Marine will hold at least 70% of all equity interests in the Joint Venture, and will be entitled to appoint a majority of the board of managers of the Joint Venture. The closing of the transactions remains subject to the satisfaction of certain conditions set forth in MOI's plan of reorganization and the JV Contribution Agreement, including, among others, the consummation of transactions under a settlement agreement among certain parties-in-interest in MOI's bankruptcy case. It is anticipated that the transactions will close in early February, 2018.

05:03 EDT Marriott sells two hotels in Buenos Aires for $100M - Marriott disclosed in a regulatory filing the sale of the 740-room Sheraton Buenos Aires Hotel & Convention Center and the 180-room Park Tower, A Luxury Collection Hotel, Buenos Aires, for cash of approximately $100M. Marriott retains long-term management agreements for both properties located in downtown Buenos Aires, Argentina. Both of the hotels will undergo renovations of their guest rooms, meeting space, lobby and other public areas, the company noted.