Stockwinners Market Radar for January 23, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:48 EDT Energy Fuels names Mark S. Chalmers president and CEO - Energy Fuels announced that, in accordance with the company's long-term succession planning, the board of directors has appointed Mark S. Chalmers, the current president and COO of Energy Fuels, as president and CEO and a director of the company, effective February 1, 2018. On January 31, 2018, Stephen P. Antony, the current CEO of the company, will retire as CEO and as a director of the company.

18:00 EDT United Financial reports Q4 provision for loan losses $2.3M - Reports Q4 provision for loan losses remained relatively flat, totaling $2.3M as compared to $2.6M for the linked quarter. Q4 net charge-offs totaled $1.5M, or 0.11%, as a percentage of average loans outstanding, as compared to $1.3M, or 0.10% as a percentage of average loans for the quarter ended September 30, 2017

17:33 EDT Great Western announces financial impact resulting from Tax Cuts and Jobs Act - Great Western Bancorp, the parent company of Great Western Bank, announced the financial impact resulting from the Tax Cuts and Jobs Act of 2017. The Company revalued its deferred taxes, resulting in a non-recurring charge to provision for income taxes of approximately $13.6M for the quarter ended December 31, 2017. The downward revaluation of the deferred taxes is estimated to reduce tangible book value per share by 23c or 1.3% based on common shares outstanding as of December 31, 2017 and to reduce the total risk based capital ratio by approximately 15 basis points. Great Western Bancorp Inc. also noted that, because its fiscal year ends on September 30, the blended federal statutory tax rate for FY18 will be 24.5%, which becomes effective for the Company's financial results for the quarter ended December 31, 2017. The overall effective tax rate is expected to be approximately 26.0% for the FY18.

17:19 EDT United sees FY19 and FY20 non-fuel CASM flat or better

17:13 EDT United: Strategic initiatives expected to moderate impact of high PRASM growth - Says United Premium Pass rolls out in 2018. Says plans to implement more dynamic buy-ups, sell seat assignments, and expand its Basic Economy offerings in 2018. Says strategic initiatives expected to moderate the impact of high growth in PRASM. Says PRASM tailwinds include Gemini revenue management enhancements, IAH and ORD rebanking, segmentation, and exposure to high yields/small markets.

17:07 EDT Vectra to sell EaglePicher business to GTCR affiliates - Vectra Co., a portfolio company of certain funds managed by affiliates of Apollo Global Management (APO), announced that it has signed a definitive agreement to sell its EaglePicher business to affiliates of GTCR, a private equity firm with over $13B in assets under management. As part of the transaction, it is anticipated that the existing management team at EaglePicher and its approximately 800 employees will remain with the business upon the closing. Terms of the agreement were not disclosed. The transaction is expected to close in Q1 of 2018, subject to the receipt of customary regulatory approvals and fulfillment of customary closing conditions.

17:01 EDT Norfolk Southern names John Scheib chief legal officer - Norfolk Southern announced that John M. Scheib has been named executive vice president law and administration and chief legal officer effective March 1, 2018. Scheib was appointed by the company's board of directors to succeed William A. Galanko, who will retire on the same date after 28 years with the railroad.

16:55 EDT United Continental says mid-continent hubs account for margin underperformance - Says mid-continent hubs account for margin underperformance. Says Chicago, Denver, and Houston have profit margins that are ten points lower than competitors' mid-continent hubs.

16:50 EDT Facebook acquires mobile ID authentication startup Confirm.io - Confirm.io announced that it has agreed to be acquired by Facebook. "When we launched Confirm, our mission was to become the market's trusted identity origination platform for which other multifactor verification services can build upon," Confirm said. "Now, we're ready to take the next step on our journey with Facebook. However, in the meantime this means all of our current digital ID authentication software offerings will be wound down." Reference Link

16:46 EDT Delek Logistics raises quarterly dividend by 1.4% to 72.5c - Delek Logistics Partner declared its quarterly cash distribution for the fourth quarter 2017 of $0.725 per limited partner unit, or $2.90 per limited partner unit on an annualized basis. This distribution represents a 1.4% increase from the distribution for the third quarter 2017 of $0.715 per limited partner unit and a 6.6% increase over Delek Logistics' distribution for the fourth quarter 2016 of $0.68 per limited partner unit . The fourth quarter 2017 cash distribution is payable on February 12, 2018 to unitholders of record on February 2, 2018.

16:45 EDT Sigma Designs trading resumes

16:42 EDT United Continental says 2017 a 'transition' year - Says understands that 2017 was a "transition" year. Says strategic initiatives starting to "bear fruit." Says finished Q4 "strong" in terms of CASM. Says not going to stop investing in business. Says 2018 focus is on improving profit margins. Comments taken from Q4 earnings conference call and investor update.

16:40 EDT MacroGenics completes interim futility analysis of the Phase 3 SOPHIA trial - MacroGenicsannounced completion of a pre-planned interim futility analysis of the Phase 3 SOPHIA trial. This randomized, multi-center clinical study compares margetuximab plus chemotherapy to trastuzumab plus chemotherapy in subjects with metastatic breast cancer. Based on results from the futility analysis, an independent data safety monitoring committeehas recommended that the SOPHIA study continue as planned without modification. This analysis was based on a pre-specified assessment of progression-free survival as determined by independent central review. The futility analysis did not allow for early stopping due to efficacy. MacroGenics also announced today that the U.S. FDA has granted Fast Track designation for the investigation of margetuximab for treatment of patients with metastatic or locally advanced HER2 positive breast cancer who have previously been treated with anti-HER2-targeted therapy. Fast Track designation is designed to facilitate the development and expedite the review of new therapies for serious conditions and unmet medical needs. With Fast Track designation, early and frequent communications between the FDA and the sponsor are encouraged to help enable rapid development of the candidate molecule."We are encouraged with the DSMC's determination that there were no safety concerns and that the analysis of PFS data support continuation of the Phase 3 SOPHIA trial. Recruitment of patients into the SOPHIA study is progressing well. We remain on track to complete enrollment by the end of 2018 and we look forward to sharing top-line results after the trial has read out in 2019," commented Scott Koenig, M.D., Ph.D., President and Chief Executive Officer of MacroGenics. "Also, we are very pleased to receive Fast Track designation for margetuximab, as this may potentially expedite future regulatory interactions on this product candidate. Furthermore, the gastric cancer data recently presented at ASCO GI for margetuximab in combination with anti-PD-1 may provide additional opportunities to address unmet medical needs in other HER2+ indications." About the SOPHIA Study MacroGenics continues to enroll patients in the pivotal Phase 3 SOPHIA clinical study of margetuximab at approximately 200 trial sites across North America, Europe and Asia. The 530-patient study is designed to evaluate the efficacy of margetuximab plus chemotherapy compared to that of trastuzumab plus chemotherapy in relapsed/refractory HER2-positive metastatic breast cancer patients. This registration study has sequential primary endpoints, which include PFS and overall survival.

16:33 EDT First Horizon increases quarterly dividend 33% - First Horizon National Corp. is increasing its quarterly cash dividend on common stock by 33%. First Horizon's board has approved payment of a quarterly cash dividend on its common stock of 12c per share payable on April 2 to the common shareholders of record on March 9. The per-share quarterly cash dividend in 2017 was 9c so the increase raises the regular annual common dividend rate from 36c per share to 48c per share.

16:32 EDT Cheniere Energy Partners raises dividend to 50c from 44c - Cheniere Energy Partners, declared a cash distribution per common and subordinated unit of 50c to unitholders of record as of February 2 and the related distribution to its general partner. All of these distributions are payable on February 14.

16:26 EDT Capital One reports Q4 net charge-offs $1.8B

16:25 EDT Capital One reports common equity Tier 1 capital ratio 10.3% at Dec 31

16:23 EDT Capital One reports Q4 net interest margin 7.03%, down 5 bps - Reports Efficiency ratio of 53.89%.

16:22 EDT Capital One reports Q4 net interest margin 7.03%, down 5 bps - Reports Efficiency ratio of 53.89%.

16:20 EDT Sigma Designs to sell Z-Wave business to Silicon Labs for $240M - Sigma Designs (SIGM) announced that due to the initial closing conditions in the previously announced definitive agreement with Silicon Labs (SLAB) for the acquisition of the entirety of Sigma Designs not being satisfied, the parties will move forward with the sale of Sigma's Z-Wave business to Silicon Labs for $240M in an asset transaction, pursuant to the terms of the definitive agreement and contingent upon approval by Sigma Designs' shareholders. Contingent upon such shareholder approval, Sigma Designs expects that the asset transaction would close in either the late first or early second calendar quarter of 2018. Sigma Designs has material U.S. and international tax attributes that it believes would significantly reduce the taxes otherwise payable with respect to the asset transaction.

16:18 EDT Puma says EMA communicates negative trend vote over MAA for neratinib - Puma Biotechnology announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has communicated a negative trend vote after meeting with the company today to discuss the Marketing Authorisation Application for neratinib for the extended adjuvant treatment of early stage HER2-positive breast cancer. A negative trend vote means it is unlikely that CHMP will provide a positive opinion related to the Company's MAA at the formal CHMP decision vote scheduled in February 2018, and that additional steps would need to be taken to gain marketing approval in Europe. CHMP indicated that, in its opinion, the benefit risk assessment is negative as the study results are based on evidence from a single pivotal trial and the 2- and 5-year invasive disease free survival benefits observed to-date may lack sufficient clinical relevance. CHMP's opinion was based on the results from both the Phase III ExteNET trial in extended adjuvant early stage HER2-positive breast cancer and the Phase II CONTROL trial in extended adjuvant early stage HER2-positive breast cancer.

16:18 EDT Caleres president of Famous Footwear Rick Ausick to retire - Caleres announced Rick Ausick, president of Famous Footwear, will retire in 2018 as part of a planned succession. Ausick will remain actively involved and participate in day-to-day operations during both the search and transition. Caleres has retained Kirk Palmer Associates to assist in the search for his successor and will review both internal and external candidates.

16:17 EDT Magellan Midstream raises quarterly distribution to 92c from 90.5c per unit - The new distribution, which equates to $3.68 per unit on an annualized basis, will be paid Feb. 14 to unitholders of record at the close of business on Feb. 6.

16:16 EDT SiriusXM approves additional $2B share repurchase program - SiriusXM announced that its Board of Directors has approved an additional $2B of common stock repurchases, taking the company's total authorization to $12B since the inception of the program in early 2013.

16:12 EDT United Community Financial raises quarterly dividend 50% to 6c per share - United Community Financial said that, on January 23, 2018, its board of directors declared a quarterly cash dividend of 6c per common share, a 50% increase from the quarterly dividend paid last quarter. The dividend is payable February 16, 2018 to shareholders of record at the close of business February 2, 2018. This increase reflects both the sentiments of the company to move to a higher dividend payout ratio and anticipated increased earnings due to recent changes in tax law.

16:11 EDT Wells Fargo raises share buyback by additional 350M shares - The Wells Fargo board of directors increased the company's authority to repurchase common stock by an additional 350 million shares.

16:10 EDT Vectrus acquires Sentel Corporation for $36M - Vectrus announced that it has acquired Sentel Corporation, a business with expertise in logistics and supply chain management. "The acquisition advances Vectrus' strategy to be a leader in the converging physical and digital infrastructure market; enhances the company's logistics, IT and technical solutions capabilities, while expanding the Vectrus client base," the company said. For the fiscal year ended September 30, 2017, Sentel generated revenue of $107M. The purchase price of $36M was funded by cash on hand and Vectrus' credit facility. The acquisition is expected to be accretive to Vectrus' 2018 GAAP diluted earnings per share.

16:10 EDT Sigma Designs trading halted, news pending

16:09 EDT Canadian National reports 2018 capital program of C$3.2B - CN will continue to invest in the safety and efficiency of its network with a capital program in 2018 of C$3.2B. The program is highlighted by approximately $700M for investments to increase capacity, including the acquisition of 60 new locomotives, track infrastructure expansion, and improvements at intermodal terminals. The capital program also includes approximately C$1.6B for track infrastructure maintenance supporting safety and efficiency, and approximately C$400M for continued installation of Positive Train Control in the United States.

16:09 EDT Sharp and Universal Display Corporation enter into OLED agreement - Universal Display (OLED) announced that the company and Sharp Corporation (SHCAY) entered into an extended and updated evaluation agreement. Under the agreement, Universal Display will supply its proprietary UniversalPHOLED phosphorescent OLED materials and technology to Sharp Corporation for use in the company's OLED displays. Details and financial terms of the agreement have not been disclosed.

16:07 EDT Bovie Medical enrolls first patient in J-Plasma clinical study - Bovie Medical announced that it has enrolled the first patient in a U.S. Investigational Device Exemption clinical study of its J-Plasma technology for use in dermal skin resurfacing. The clinical study is a multi-center, single arm, evaluator-blind prospective study evaluating the safety and efficacy of Bovie Medical's J-Plasma technology for the reduction of facial wrinkles and rhytides. The study will be conducted at up to five investigational centers and will enroll 55 eligible subjects. Enrolled study subjects will receive one procedure with the Company's J-Plasma technology at enrollment and wrinkle severity will be assessed using the Fitzpatrick Wrinkle and Elastosis Scale at baseline and at each follow-up time point. The first patient was enrolled with Dr. J. David Holcomb at the Institute for Integrated Aesthetics in Sarasota, Florida.

16:07 EDT United Continental reports Q4 PRASM up 0.2% - Fourth-quarter 2017 consolidated passenger revenue per available seat mile (PRASM) was up 0.2 percent compared to the fourth quarter of 2016. Cargo revenue was $304 million in the fourth quarter of 2017, an increase of 21.6 percent year-over-year primarily due to higher international freight volume and yields. For the full year of 2017, total revenue was $37.7 billion, an increase of 3.2 percent year-over-year.

16:06 EDT Regal Entertainment announces expiration of Go Shop period - Regal Entertainment Group announced the expiration of the "go-shop" period pursuant to the terms of the previously announced merger agreement, which provides for the acquisition of Regal by Cineworld Group plc, the U.K.'s largest cinema operator. Under the terms of the Merger Agreement, Regal and its representatives were permitted to solicit, initiate, discuss and engage in negotiations with respect to alternative acquisition proposals from third parties until midnight on January 22, 2018. During the "go-shop" period, with the assistance of Morgan Stanley & Co. LLC, Regal solicited 11 potential strategic bidders and 36 potential financial bidders, for a total of 47 potentially interested parties in connection with the "go-shop" period, which resulted in two parties negotiating and entering confidentiality agreements with Regal. Despite its solicitation efforts, Regal did not receive any alternative acquisition proposals during the "go-shop" period.

16:04 EDT Texas Instruments reports Q4 gross margin 65.1%

16:01 EDT comScore announces agreement with Cordillera Communication - comScore announced an agreement with local broadcasting group Cordillera Communication, expanding its existing relationship to include local TV ratings for WLEX in Lexington, Ky., KATC in Lafayette, La. and KOAA in Colorado Springs, Colo. In addition to local ratings measurement information, the expansion agreement includes access to comScore's Advanced Audience behavioral segmentations for automotive and political ratings. Cordillera owns and operates television stations and digital news platforms in 11 geographically diverse small- and medium-sized markets

15:53 EDT Inovio jumps 24% after publishing flu vaccine data - Inovio announced before the market opened that its synthetic vaccine approach using a collection of synthetic DNA antigens generated broad protective antibody responses against all major deadly strains of H1 influenza viruses from the last 100 years including the virus that caused "Spanish Flu" in 1918 in multiple animal models including mice, guinea pigs and non-human primates. The flu vaccine also affords 100% protection against lethal challenge in the gold standard ferret model, demonstrating the functionality of such broad protective immune responses. Preclinical flu vaccine study results were detailed in a paper published in the journal Vaccine. A broadly protective flu vaccine would be of great value given how rapidly a pandemic strain could emerge. Dr. Laurent Humeau, Inovio's senior VP, Research and Development, said, "Funded by a grant from the NIH, this published work demonstrates that Inovio's ASPIRE (Antigen SPecific Immune REsponses) technology platform could produce a universal flu vaccine that can span seasonal vaccine changes allowing for continued immune protection. We are proud to advance Inovio technology and contribute to advance cutting edge technology for the important global health treats. These studies also showcase the latest CELLECTRA intradermal (skin) delivery system to facilitate optimal antigen production and generation of superior immune responses in animal models." Shares of Inovio are up 24.14% in late afternoon trading.

15:14 EDT Paychex says report regarding potential merger with M&T Bank 'false' - A blogger has reported that Paychex (PAYX) founder and chairman B. Thomas Golisano is "open" to a merger with the Buffalo, N.Y.-based M&T Bank (MTB). There is no foundation in fact in this blogger's article. Golisano has never talked directly or indirectly with anyone, offered his opinion, or considered this merger. Anything of this nature would go through official Paychex channels as part of a comprehensive process that includes thorough review and consideration by the Paychex Board of Directors. This report is false.

15:02 EDT Aetna to pay $1.15M in settlement with NY AG over privacy breach - New York Attorney General Eric Schneiderman announced a settlement with Aetna following claims that Aetna revealed the HIV status of approximately 2,460 New York members through a mailing in July 2017 in which the envelopes' oversize transparent address window revealed text confirming the members' HIV status. As part of the settlement, Aetna will pay a $1.15M civil penalty; develop and maintain enhanced operating procedures with regard to privacy protections of personal health information and personally identifiable information in mailings; and hire an independent consultant to monitor and report on the settlement's injunctive provisions.

14:57 EDT Norfolk Southern increases quarterly dividend 18% to 72c per share - Norfolk Southern announced that its board of directors approved an 18% increase in its quarterly dividend on the company's common stock to 72c from 61c per share. The dividend is payable March 10 to shareholders of record on Feb 2.

14:18 EDT Facebook CMO leaving to advise other companies, help Democratic Party - In a status update, Gary Briggs said he is retiring as Facebook's CMO: "After weighing the timing, and discussing it with Chris and Sheryl over the past year, I'm excited to have made the decision to retire. And I know I'm fortunate; very fortunate. I am so grateful for my 4 1/2 years as CMO at Facebook and will work now on hiring my successor. It's an amazing job at an amazing time with the best marketing team. While I'm getting ready for my next chapter, I'm not done yet. I'll be here at Facebook fully committed until we hire someone great and they ramp up. I'm going to pursue some advisory work for a few companies and hopefully join a few boards. I'll explore teaching a bit. We're going to travel some and start to split our time in and out of the Bay Area and Seattle. And I plan to help the Democratic Party on some efforts leading up to the US midterms this year through to 2020." Reference Link

14:08 EDT Regency Centers acquires Whole Foods Market-anchored center in New Jersey - Regency Centers announced the acquisition of The District at Metuchen, in Metuchen, New Jersey.

14:05 EDT Fitch downgrades Sears Holdings to 'C' on distressed debt exchange announcement - Fitch Ratings has downgraded the Long-Term Issuer Default Ratings on Sears Holdings Corporation, Sears Roebuck Acceptance Corp. and Kmart Corporation to 'C' from 'CC' following the company's announcement that it has commenced an exchange of various tranches of debt held at these entities. Fitch views these exchanges as a distressed debt exchange, given extension of maturity date and the change in interest from cash-pay basis to PIK, and assumes that the collateral base for the secured debt will remain unchanged post the exchange. "While the proposed exchanges and amendments are expected to result in annual cash interest savings of just over $100M, this transaction does not materially change Fitch's expectations for annual cash burn, which would go to $1.2B annually from previously projected $1.3B in 2018," Fitch said.

14:01 EDT Disney to give over 125,000 employees one-time $1,000 cash bonus - Disney chairman and CEO Robert A. Iger announced that more than 125,000 eligible employees will receive a one-time $1,000 cash bonus. The company will also make an initial investment of $50M in a new and ongoing education program specifically designed to cover tuition costs for hourly employees. The two new initiatives represent a total allocation of more than $175M in this fiscal year. All full and part-time non-executive employees, either hourly or salaried, who have been with The Walt Disney Company since January 1, 2018, and are based in the United States will be paid a one-time $1,000 cash bonus. Employees will receive the bonus in two payments, the first in March and the second in September of this year. In keeping with applicable federal law, the company will work with union representatives regarding potential distribution plans for employees currently working under existing union contracts.

13:50 EDT Trump Effect: Whirlpool, solar stocks moving after new import tariffs - Shares of Whirlpool (WHR) are on the rise after the Trump Administration established a tariff of up to 50% on imports of large residential washing machines. Tariffs on imported solar cells were also announced, sending some foreign and domestic names in opposite directions. In early trading, Arizona-based First Solar (FLSR) surged 4% but has since shed its gains. TARIFF ON WASHING MACHINES: On Monday, the Trump Administration announced that it will impose a 20% tariff on the first 1.2M imported large residential washing machines in the first year and a 50% tariff on machines above that number. Commenting on the news, Jeff Fettig, the chairman of U.S. home appliance manufacturer Whirlpool praised the President's decision and said: "This announcement caps nearly a decade of litigation and will result in new manufacturing jobs in Ohio, Kentucky, South Carolina and Tennessee. [...] By enforcing our existing trade laws, President Trump has ensured American workers will compete on a level playing field with their foreign counterparts, enabled new manufacturing jobs here in America and will usher in a new era of innovation for consumers everywhere." Conversely, Samsung (SSNLF) said the announcement is a "great loss" for American consumers and workers. "This tariff is a tax on every consumer who wants to buy a washing machine. Everyone will pay more, with fewer choices." TARIFF ON SOLAR IMPORTS: The Trump Administration also announced the President's decision to slap tariffs on imported solar cells. A 30% tariff will be imposed on imported solar cells and modules in the first year, with the tariffs declining to 15% by the fourth year. The tariff allows 2.5 gigawatts of unassembled solar cells to be imported tariff-free in each year. According to Bloomberg, foreign solar panel manufacturers, including China's JinkoSolar Holding (JKS) and JA Solar (JASO), thought that the 30% tariff implemented on U.S. imports by President Donald Trump was "better than expected." The companies had been preparing since October when the U.S. International Trade Commission recommended a 35% tariff. MAY BE POSITIVE FOR FIRST SOLAR: In a research note to investors this morning, Credit Suisse analyst Michael Weinstein notes that the approved solar import tariff was in-line with expectations. The analyst argued that the news is positive for companies exempt from the tariff, notably First Solar and Tesla (TSLA) until now. Conversely, Weinstein pointed out that he expects negative sentiment around Chinese solar manufacturers, such as JinkoSolar and JA Solar, and expects negligible impact to residential solar developers Sunrun (RUN) and Vivint Solar (VSLR). Also commenting on the news, Oppenheimer analyst Colin Rusch said he expects this announcement may prove to be a near-term peak on First Solar sentiment as he would not be surprised to see a settlement on AD/CVD effectively lowering tariffs and module prices in the U.S. Additionally, he anticipates some profit-taking in First Solar, and would judiciously add to Sunrun and Vivint Solar, which may get back to building portfolios of distributed assets. PRICE ACTION: In afternoon trading, shares of Whirlpool have gained almost 4% to $172.76. In the solar space, SunPower (SPWR), First Solar, Canadian Solar (CSIQ), JA Solar and Yingli Green Energy (YGE) are lower, while Vivint Solar, Solaredge (SEDG), Enphase Energy (ENPH), Sunrun and Sky Solar (SKYS) are on the rise. "Trump Effect" is The Fly's recurring series of exclusive stories that highlight stocks that are being impacted, or are predicted to be impacted, by the comments, actions and policies of President Trump and his administration.

13:30 EDT Broadcom says Qualcomm 'intentionally vague' statements not grounded in reality - Broadcom Limited (AVGO) issued a statement in response to a letter Qualcomm (QCOM) sent to Qualcomm stockholders, stating in part: "Qualcomm has once again made intentionally vague statements regarding "regulatory challenges" that are simply unfounded, misleading, and a disservice to Qualcomm stockholders. Qualcomm's rhetoric is vague for a reason - because it is not grounded in reality...There is no antitrust issue concerning this transaction that could not be satisfactorily resolved during the merger clearance process. It is undeniable that the two businesses are highly complementary, and Broadcom has already identified the potential regulatory requirements for closing the deal, all of which we can satisfy in a timely manner...As we previously announced, we fully anticipated receiving a second request from the FTC as part of the regulatory approval process, and we are already working toward complying with the request. We continue to move forward with redomiciling to the U.S. - just yesterday Broadcom filed preliminary proxy materials in connection with a shareholder meeting to approve the redomiciliation. We expect to receive approvals by the end of our fiscal second quarter ending May 6, 2018. Broadcom continues to receive clear customer support for the transaction - we would not have announced this transaction without that support. We remain confident in our ability to complete a transaction within approximately 12 months following the signing of a definitive agreement. Qualcomm's self-inflicted antitrust challenges should not color stockholders' views of Broadcom's ability to close a transaction with Qualcomm."

12:50 EDT Publicis says undergoing 'destabilization attempt,' rejects allegations - Publicis Groupe said in a statement that it is undergoing a destabilization attempt following the dissemination to its auditors and some financial analysts of an anonymous letter stating that Publicis Groupe overvalued its organic growth for 2016 and 2017 through an early application of IFRS 15. Publicis Groupe formally rejects these allegations. "The author of this letter obviously has no knowledge of accounting standards and is proceeding by amalgam, for the sole purpose of creating doubt and disturbing the reality of Publicis Groupe's figures. Publicis Groupe has informed the AMF and is also studying all possible legal options at its disposal to respond to this attempt at destabilization."

12:42 EDT Cboe Global Markets recognized in Hong Kong as approved stock exchange - Cboe Global Markets announced Hong Kong's Mandatory Provident Fund Schemes Authority has included Cboe BZX Exchange, Inc. in its List of Approved Stock Exchanges. The recognition of Cboe's BZX Exchange should help further facilitate investment in the region in Cboe-listed securities by allowing funds to be eligible to be approved by the MPFA as eligible for sale to MPFA regulated pension funds.

12:31 EDT MetLife issues statement on court decision to dismiss appeal in SIFI litigation - MetLife chairman, president and CEO Steven Kandarian issued the following statement on the decision by the U.S. Court of Appeals for the District of Columbia Circuit to dismiss FSOC's appeal of the district court decision rescinding MetLife's decision as a non-bank systemically important financial institution: "This is the right outcome not only for MetLife's customers, employees and shareholders, but for the broader financial system as well. MetLife has always supported prudent regulation of the insurance industry and is effectively regulated at the state level, but FSOC's 2014 designation of MetLife had was a textbook case of regulatory overreach. MetLife wants a level playing field where we are neither advantaged nor disadvantaged by regulation. We are not 'too big to fail' and never have been. We do not want the burdens that come with that label and, to the extent it has any benefits, we do not want those either. For nearly 150 years, MetLife has stood on its own two feet without any need for a government backstop. Regulating companies reasonably is critical to fueling robust economic growth and creating jobs. If systemically important activities are taking place anywhere in the insurance industry, primary regulators should focus on those activities directly, as we have advocated since 2009."

12:20 EDT 21st Century Fox 'welcomes' part of CMA finding, 'disappointed' about plurality - 21st Century Fox (FOXA) notes today's publication by the Competition and Markets Authority, or CMA, of its Provisional Findings Report regarding the company's proposed acquisition of the remaining shares in Sky (SKYAY). "Today's provisional findings move our proposed Sky transaction forward to the next phase of the regulatory review process. We welcome the CMA's provisional finding that the Company has a genuine commitment to broadcasting standards and the transaction would not be against the public interest in this respect. Regarding plurality, we are disappointed by the CMA's provisional findings. We will continue to engage with the CMA ahead of the publication of the final report in May. We also note that the CMA has elected to avail itself of the statutory 8-week extension, moving its deadline for a final decision to May 1, 2018. We anticipate regulatory approval of the transaction by June 30, 2018," the company stated.

12:05 EDT Roche subsidiary treatment of gastric cancer granted FDA orphan status - Genentech, a subsidiary of Roche, was granted FDA orphan designation for the company's treatment of gastric cancer, including gastroesophageal junction cancer, according to a post to the agency's website. Reference Link

11:12 EDT Tesla's CEO performance award tied to big market cap, operational targets - Shares of Tesla (TSLA) are in focus after company announced a new long-term performance award for Chief Executive Officer Elon Musk. Tesla said Musk will get no guaranteed compensation of any kind, and his pay will be based on various market cap and operational milestones. TEN-YEAR PERFORMANCE AWARD: On Tuesday, Tesla announced a new 10-year performance award for CEO Elon Musk with vesting entirely contingent on achieving market cap and operational milestones. In order to fully vest, Tesla's market cap would have to grow to $650B, an increase of almost $600B, and important revenue and profitability goals would also have to be achieved. Musk will receive no guaranteed compensation of any kind -- no salary, no cash bonuses and no equity that vests simply by the passage of time. Instead, his only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of its shareholders do well. The performance award consists of a 10-year grant of stock options that vests in 12 tranches. Each of the 12 tranches vest only if a pair of milestones is met. MILESTONES: To meet the first market cap milestone, Tesla's current market cap must increase to $100B. For each of the remaining 11 milestones, Tesla's market cap must continue to increase in additional $50B increments. For Musk to fully vest in the award, Tesla's market cap must increase to $650B. To meet the operational milestones, Tesla must meet a set of escalating revenue and adjusted EBITDA targets designed to ensure that as Tesla's market cap grows, the company is also executing well on both a top-line and bottom-line basis. For each of the 12 tranches that is achieved, Musk will vest in stock options that correspond to 1% of Tesla's current total outstanding shares. If none of the 12 tranches is achieved, Musk will not receive any compensation. TESLA LEADERSHIP: For vesting to occur when the milestones are met, Musk must remain as Tesla's CEO or serve as both executive chairman and chief product officer with all leadership reporting to him. The company explained, "This ensures that Elon will continue to lead Tesla's management over the long-term while also providing the flexibility to bring in another CEO who would report to Elon at some point in the future. Although there is no current intention for this to happen, it provides the flexibility as Tesla continues to grow to potentially allow Elon to focus more of his attention on the kinds of key product and strategic matters that most impact Tesla's long-term growth and profitability." "TRILLION-DOLLAR COMPANY": In an interview with Andrew Ross Sorkin of The New York Times published on Tuesday, CEO Musk said, "I actually see the potential for Tesla to become a trillion-dollar company within a 10-year period." Tesla's current market capitalization sits around $59B. "MARKETING TOOL": Following the announcement, Morgan Stanley analyst Adam Jonas said he sees Tesla CEO Elon Musk's long-term incentive plan as an "aspirational marketing tool" to attract talent and capital as competition increases in both electric vehicles and autonomous vehicles. The operational targets provide an incentive for Tesla to be a very large company, the plan leaves flexibility for it to find a new CEO and the mega-cap milestones are meant to "capture the spirit of the bull market," said Jonas, who believes the true financial incentive to Musk is open to debate given how he is already "all in" on Tesla. He said the incentive package implies incremental compensation of more than $70B but he views the package as more important to investor confidence than to Musk financially. He kept an Equal Weight rating on the shares. "MARKETING TOOL": Following the announcement, Morgan Stanley analyst Adam Jonas said he sees Tesla CEO Elon Musk's long-term incentive plan as an "aspirational marketing tool" to attract talent and capital as competition increases in both electric vehicles and autonomous vehicles. The operational targets provide an incentive for Tesla to be a very large company, the plan leaves flexibility for it to find a new CEO and the mega-cap milestones are meant to "capture the spirit of the bull market," said Jonas, who believes the true financial incentive to Musk is open to debate given how he is already "all in" on Tesla. He said the incentive package implies incremental compensation of more than $70B but he views the package as more important to investor confidence than to Musk financially. He kept an Equal Weight rating on the shares. PRICE ACTION: Tesla shares rose 0.75%, or $2.57, to $354.13 in morning trading.

11:02 EDT Obalon Therapeutics down over 9% after reporting whistleblower allegations - After resuming trading, Obalon shares are down 50c, or 9.6%, to $4.69.

11:00 EDT Buckingham breaks from analyst crowd with post-earnings downgrade of Netflix - Shares of Netflix (NFLX) are on the rise following record subscriber growth in the fourth quarter, helped by new content. While several Wall Street analysts raised their price targets and reiterated buy-equivalent ratings on the stock following the company's quarterly report, Buckingham analyst Matthew Harrigan downgraded Netflix to Neutral, citing valuation and concerns over the company's cash burn. RESULTS: Last night, Netflix reported fourth quarter earnings per share of 41c, in-line with consensus, on revenue that was also roughly matched the average view of analysts. The company also reported Q4 streaming net additions of 8.33M members. Netflix sees Q1 streaming net additions of 6.35M members. For the first quarter, the company foresees EPS of 63c and revenue of $3.68B. Additionally, the company said it sees negative free cash flow of $3B-$4B in 2018 as it continues to invest in programming. ANALYSTS UP TARGETS: Following the streaming giant's report, several Wall Street analysts raised their price targets for Netflix. Goldman Sachs analyst Heath Terry increased his target to $315 from $250, citing the significant upside to both subscriber additions in Q4 and guidance for membership in Q1. He believes this reflects the growing correlation between content spending and subscriber growth. Terry reiterated a Buy rating on the stock. His peer at Bernstein also raised his target for Netflix to $302 from $230, while reiterating an Outperform rating on the shares. Analyst Todd Juenger said he believes the Netflix "flywheel" is working "brilliantly" as having the most subscriptions means it can invest the most in content, which in return drives more subscriptions. This will lead to a company that will be "massively bigger" and more profitable in the future than what the market is pricing in today, he added. RBC Capital, Credit Suisse, Oppenheimer, BMO Capital, KeyBanc, UBS, Wells Fargo, JPMorgan, Loop Capital, Citi, Barclays and Piper Jaffray also upped their respective price targets on Netflix shares this morning. MOVING TO THE SIDELINES: Conversely, Buckingham analyst Matthew Harrigan downgraded Netflix to Neutral from Buy, while raising his price target to $257 from $251. The analyst acknowledged that he is confident in Netflix's position as a global streaming leader, with new entrants like Disney (DIS) more apt to be complements than replacements. However, he pointed out that continued share momentum depends on market confidence that Netflix's guided $3B-$4B in negative 2018 free cash flow will generate superior investment returns. Meanwhile, his peer at Wedbush raised his price target on the stock to $110 from $93 but reiterated an Underperform rating on the name. Analyst Michael Pachter told investors he expects Netflix to burn cash to fund content acquisition for many years, notwithstanding the fact that it has increased prices three times while its cash burn continues to grow. The analyst also noted that he believes international profits may remain elusive due to competition for content and subscriptions, and the price increases could cause a deceleration in subscriber growth. PRICE ACTION: In morning trading, shares of Netflix jumped almost 11% to $252.39.

10:29 EDT Kimberly-Clark: 'Some' improvement in pricing environment embedded in guidance

10:27 EDT Kimberly-Clark: China 'still a dynamic market'

10:09 EDT Toyota surpasses 3,000 Mirai hydrogen fuel cell vehicle sales in California - The Toyota Mirai, one of the world's first mass-produced hydrogen fuel cell electric vehicles, has surpassed 3,000 sales in the Golden State. Having reached this new milestone, Mirai make up more than 80% of all hydrogen fuel cell vehicles in the United States. "Toyota remains at the forefront of developing and deploying hydrogen fuel cell technology, and we believe strongly in its potential to help realize a more sustainable and zero-emissions society," said Bob Carter, EVP, Toyota Motor North America, Inc. "From our success in launching the Mirai to our work in building the world's first megawatt-scale carbonate fuel cell power generation plant, Toyota is proud to bring to market new uses for this versatile technology." The Toyota Mirai, a four-door, mid-size sedan, is a zero-emission hydrogen vehicle with an EPA estimated driving range rating of 312 miles and 67 mpge city/highway/combined.

10:01 EDT Honeywell to provide third cryogenic gas processing plat to Brazos Midstream - Honeywell announced that its UOP Russell business will provide a third cryogenic gas processing plant to Brazos Midstream. The high-recovery 200 million cubic foot per day plant, called Comanche III, will extract valuable natural gas liquids from natural gas produced in the Southern Delaware Basin in Texas. Included with the plant, Honeywell will provide engineering, fabrication and supply of a modular cryogenic NGL recovery unit. This new plant follows two earlier plants that also were customized specifically to handle the unique gas composition in the Basin.

09:54 EDT Microsoft expands Xbox Game Pass to include new releases from Microsoft Studios - Phil Spencer, Head of Gaming at Microsoft, announced plans for an expansion to Xbox Game Pass that he said "underscores our commitment to deliver our fans the ultimate gaming subscription service." The company now plans to release all new Xbox One exclusive games from Microsoft Studios into Xbox Game Pass on the same date as their global release. "This means that when Sea of Thieves launches on March 20, it will be included in Xbox Game Pass to all members," the post states. Reference Link

09:49 EDT State Street sees 'positive' impact from tax reform going forward - Believes tax reform will have a "positive" impact going forward despite one-time estimated net impact of approximately $270M in Q4. Says continues to see momentum across core franchise. Says new business opportunities remain "robust" across franchise. Expects to realize $550M target savings from Beacon by mid-2019. Says majority of benefits from tax reform will flow through financials but will also invest in employee retirement plans, will introduce new technology for employees, and will increase global grant making. Says pre-tax operating margin improved to 31.4% in 2017 achieving Beacon 2018 target of 31% one year ahead of plan. Says AUCA and AUM growth in Q4 positions company well for 2018. Expects deposit betas to increase over time as they have done in past cycles. Says continues to price deposits carefully. Says continues to maintain a "high-quality" balance sheet and increase capital ratios. Comments taken from Q4 earnings conference call.

09:26 EDT Air Force Space Command's SCA renews Telos license as general, special agent - Telos announced that the U.S. Air Force Space Command's Security Control Assessor has renewed the company's licenses to act as both a General and Special Agent to conduct system accreditations. Renewed for a "General" Agent of the Security Control Assessor license for the sixth consecutive year and a "Special" certification for the third straight year, Telos extends its standing as an independent, accredited agent of the U.S. government that is fully equipped and trusted to carry out and support the Department of Defense's authorization process.

09:19 EDT Procter & Gamble says commodity costs have moved up this year - Says seeing some growth in high-end categories. Says sales of natural products "well over $1B."

09:17 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Verizon (VZ), up 3.3%... Logitech (LOGI), up 6.2%... Johnson & Johnson (JNJ), up marginally... Netflix (NFLX), up 10.5%... Huntington Bancshares (HBAN), up just under 1%... Travelers (TRV), up 3.3%... Kimberly Clark (KMB), up 1.8%... ResMed (RMD), up 10.3%... TD Ameritrade (AMTD), up 3.4%... Allegheny Technologies (ATI), up 5.4%. ALSO HIGHER: Tesla (TSLA), up 2.8% after announcing CEO Elon Musk's new performance-based compensation plan... Apple (AAPL), up marginally after announcing the order and arrival dates of the HomePod. LOWER: Procter & Gamble (PG), down 1.7% after reporting quarterly resutls... Adamas Pharmaceuticals (ADMS), down 6.2% after filing to sell $85M in common stock... GoPro (GPRO), down 6% after being downgraded to Underweight from Equal Weight at Morgan Stanley... Twitter (TWTR), down 3.6% after announcing the departure of COO Anthony Noto.

09:13 EDT Twitter drops as COO Anthony Noto resigns to become SoFi CEO - Shares of Twitter (TWTR) dropped in pre-market trading after the microblog operator confirmed that its chief operating officer will leave to take an executive role at another company. COO DEPARTURE: Twitter said this morning that Anthony Noto, its COO, is leaving the company to accept the role of chief executive at another company. "Anthony has been an incredible advocate for Twitter and a trusted partner to me and our leadership team," Twitter CEO Jack Dorsey said. Noto's responsibilities at Twitter for the company's business operations and revenue generating operations will be taken on by other members of Twitter's executive team, while Matt Derella, Twitter's Vice President of Global Revenue and Operations, will continue to lead the company's advertising sales efforts. NOTO TO JOIN SOFI: Noto will join online lender SoFi as its CEO and a director, according to a release from the company, following reports that SoFi offered him the job. SoFi has been seeking a permanent CEO since Mike Cagney left the company in September. Noto will join SoFi on March 1. At that time, interim CEO Tom Hutton, who has been serving as executive chairman, will become non-executive chairman of SoFi's board, the company reported. Hutton commented that SoFi's board "unanimously agrees that Anthony's deep understanding of technology, consumer, and financial businesses make him the perfect fit to be SoFi's CEO. We could not be more excited to have someone of his caliber on board." PRICE ACTION: Twitter is down 2.7% to $22.68 per share in pre-market trading.

09:07 EDT Verizon says FY18 CapEx budget includes 5G spending

09:06 EDT Verizon says 5G trials going 'extremely well'

09:04 EDT Procter & Gamble sees stronger earnings growth in Q4 than Q3 - Views tax act as a "significant advancement" for competitiveness of U.S. companies. Says e-commerce sales increased about 40% in Q2. Says goal for this year is to grow e-commerce sales to about $4.5B. Says "not sure" what competitive dynamics are going to be in response to tax reform. Sees FY18 tax rate 22.5%-23%. Notes that tax reform changes "broad and complex." Sees "little to no benefit" from tax reform on EPS for remaining two quarters. Sees stronger earnings growth in Q4 than Q3. Raises share repurchase view for FY18 to $4B-$7B to $6B-$8B. Comments taken from the Q2 earnings conference call. P&G is down 1.4% in pre-market trading.

09:01 EDT Xperi partners with ARCloud to bring music recognition to hybrid ratio - Xperi Corporation and ACRCloud, a Beijing-based audio fingerprinting service provider, have announced a partnership to integrate ACRCloud music recognition technology into the DTS Connected Radio platform. Through this partnership, DTS, a wholly owned subsidiary of Xperi, will use ACRCloud's technology to identify the music playing on radio stations in vehicles around the world.

08:57 EDT Twitter COO Anthony Noto resigns to accept CEO role at other company - Twitter announced that Anthony Noto notified the company on January 22 that he is resigning from his position as Twitter's COO in order to accept the CEO role at another company. Noto's responsibilities for the company's business operations and revenue generating operations will be assumed by other members of Twitter's leadership team. Matt Derella, Twitter's Vice President of Global Revenue and Operations, will continue to lead the company's advertising sales efforts.

08:52 EDT Verizon says integration of Oath assets progressing ahead of schedule

08:46 EDT Johnson & Johnson 'very pleased' with launch of Tremfya - Johnson & Johnson executives are discussing earnings results in a conference call.

08:40 EDT Clean Harbors agrees to acquire Veolia North America's industrial cleaning unit - Clean Harbors (CLH) and Veolia Environmental Services North America, a subsidiary of Veolia North America (VEOEY), announced the signing of a definitive agreement whereby Clean Harbors will acquire Veolia North America's U.S. Industrial Cleaning Services Division for $120M in an all-cash transaction. The acquisition is expected to close in 1Q18, subject to approval by U.S. regulators and other customary closing conditions. For the 12 months ended December 31, 2017, Veolia North America's Industrial Cleaning Services Division is expected to have revenues of approximately $210M. Clean Harbors expects the division to generate Adjusted EBITDA of approximately $15M to $20M in its first full year of operations, post synergies.

08:37 EDT ACM Research receipt of 'significant' SAPS orders - ACM Research announced that it has recently received significant orders for wafer-cleaning tools based on ACM's proprietary Space Alternated Phase Shift, or SAPS, technology. The orders, which have been received over the past eight weeks, represent binding purchase commitments totaling $38.1 million from five existing customers, with three existing customers agreeing to purchase multiple tools. Each purchase order contains agreed technical specifications. We intend to ship all of the ordered tools by the third quarter of 2018, and we estimate the tools will be accepted, and their sales prices recognized as revenue, in 2018. The customers are located in China and Korea, and they manufacture 3D NAND and DRAM memory chips as well as logic chips and advanced packaging.

08:35 EDT Verizon says finished Q4 with 'great momentum' - Says wireless service business positioned for growth going forward. Comments from Q4 earnings conference call.

08:32 EDT Apple's HomePod arrives February 9, available to order January 26 - HomePod, the wireless speaker from Apple, arrives in stores beginning Friday, February 9 and is available to order online this Friday, January 26 in US, UK and Australia. HomePod will arrive in France and Germany this spring. "HomePod is a magical new music experience from Apple. It brings advanced audio technologies like beam-forming tweeters, a high-excursion woofer, and automatic spatial awareness, together with the entire Apple Music catalog and the latest Siri intelligence, in a simple, beautiful design that is so much fun to use," said Philip Schiller, Apple's senior vice president of Worldwide Marketing. "We're so excited for people to get HomePod into their homes, apartments and businesses to hear it for themselves. We think they will be blown away by the audio quality. The team has worked to give Siri a deeper knowledge of music so that you can ask to play virtually anything from your personal favorites to the latest chart-topping releases, simply by saying 'Hey Siri.'" HomePod is designed to work with an Apple Music subscription for access to hundreds of genres, moods and activities. It also learns preferences and tastes that are shared across devices. HomePod is a convenient way to send messages, set timers and reminders, check the weather and listen to shows on Apple Podcasts. HomePod is available at an Apple retail price of $349.

08:24 EDT Altimmune receives notice of allowance from USPTO for patent for NasoShield - Altimmune announced that it has received a Notice of Allowance from the United States Patent and Trademark Office, or USPTO, for patent application No. 14/870,570, "Targets and Compositions for Use in Decontamination, Immunoprophylaxis, and Post-Exposure Therapy Against Anthrax". The '570 patent claims extend the IP coverage for NasoShield by the intranasal administration route. The Company has already been granted patents extending IP protection for intranasal administration of NasoShield in Europe and Japan.

08:22 EDT SPAR Group announces global partnership with Sales Services International - SPAR Group announced a global partnership with Sales Services International, or SSI, a pan-European network of independent agencies that provides merchandising and field marketing services to 26 countries in Europe. The partnership makes SPAR Group the representative agency for the SSI network in all countries where SPAR operates and expands the reach of SPAR to 36 countries worldwide, including all of Europe. As a member of SSI, SPAR will now be able to actively pursue and participate in global initiatives and opportunities for brands and retailers worldwide.

08:17 EDT Aethlon announces validation completion for European patent related to exosomes - Aethlon Medical announced that validation has completed and the opposition period expired for European Patent Number 2591359, entitled "METHODS AND COMPOSITIONS FOR QUANTIFYING EXOSOMES." The patent was validated in Germany, France, Great Britain, and Spain. In recent years, exosomes have emerged as a significant diagnostic and therapeutic tool for a wide range of disease conditions, including cancer, tuberculosis, Alzheimer's, and chronic traumatic encephalopathy.

08:14 EDT Fifth Third sees Q1 NII on FTE basis $975M-$980M - Sees FY18 commercial loans & leases up approximately 3%, consumer up 2-3%. Sees Q1 NII $975M-$980M, NIM up 3-5bps from adjusted Q4. Sees FY18 NII $4B-$4.07B, NIM approximately 3.15% with two 2018 rate hikes. For Q1, sees non-interest income $560M-$570M, excluding Vantiv step-up gain. Sees noninterest expense $1.05B-$1.08, including seasonal compensation impacts.For FY18, sees non-interest income approximately $2.4B, excluding Vantiv step-up gain. Sees noninterest expense $4B-$4.1B, including the impact of the minimum wage increase and the impact of lower taxes on LIH amortization. Sees FY18 effective tax rate 15.5%-16%, including the impact from the Vantiv step-up gain, run-rate beyond 2018 of 14%-14.5%. Comments from slides that will be presented on the Q4 earnings conference call.

08:06 EDT GTT selected by Tampnet for low latency transatlantic connectivity - GTT Communications announced that Tampnet, a provider of data networking to the offshore industry, selected GTT's optical transport services to connect its offshore telecommunication assets in the North Sea and Gulf of Mexico. Tampnet serves more than 240 oil and gas platforms, floating production storage and offloading units, and exploration rigs.

08:05 EDT Peoples Bancorp reports Q4 net interest margin 3.63% - Compared to 3.67% for the linked quarter, and 3.54% for the fourth quarter of 2016.

08:03 EDT Cardiome announces expanded label for Aggrastat in China - Cardiome Pharma announced that the Chinese Center for Drug Evaluation has approved an expansion of the indications for Aggrastat to now, in addition to acute coronary syndromes without ST elevation include patients with ST-segment elevation myocardial infarction, who are intended for primary percutaneous coronary intervention. In addition to the expanded indications, the CDE also approved an Aggrastat high dose bolus regimen (25 mcg/kg over a 3-minute period, followed by continuous infusion of 0.15 mcg/kg/min for 12-24 hours and up to 48 hours) to be used on both indicated patient populations. In China, Aggrastat was previously indicated for use in patients with NSTE-ACS, as well as to prevent ischemic complications as a result of coronary angioplasty procedures. The new expanded label will include both STEMI and NSTE-ACS. Aggrastat is currently marketed by Cardiome in over 60 countries worldwide.

08:02 EDT Incyte recommends shareholders reject TRC's mini-tender offer - Incyte Corporation announced that it received notice of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 1,500,000 shares of Incyte's common stock at a price of $88.88 per share in cash. TRC's offer price is approximately 4.59% lower than the $93.16 closing price of Incyte's common stock on January 19, 2018, the last closing price prior to commencement of the offer. The offer is for approximately 0.71% of Incyte's outstanding shares of common stock as of the offer date. Incyte does not endorse TRC's unsolicited mini-tender offer and recommends that shareholders not tender their shares because the offer is at a price below the current market price of Incyte's shares and is subject to numerous conditions. Incyte is not affiliated or associated in any way with TRC, its mini-tender offer or the mini-tender offer documentation. TRC has made many similar unsolicited mini-tender offers for shares of other public companies. Mini-tender offers seek to acquire less than 5% of a company's outstanding shares, thereby avoiding many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with the Securities and Exchange Commission and other procedures mandated by U.S. securities laws. Incyte urges shareholders to obtain current market quotations for their shares, to consult with their broker or financial advisor, and to exercise caution with respect to TRC's mini-tender offer. Incyte recommends that shareholders who have not responded to TRC's offer take no action. Shareholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer by following the procedures described in TRC's offering documents. The offer is currently scheduled to expire at 12:01 a.m. Eastern Time on Wednesday, February 21, 2018. TRC may extend the offering period at its discretion.

07:42 EDT KemPharm receives patent grant for KP606 - KemPharm announced further enhancements to KemPharm's U.S. and global intellectual property estate governing its portfolio of prodrug product candidates with the receipt of an initial patent issued for KP606, an oxycodone prodrug, as well as an additional composition of matter patent to enhance the existing family of patents related to KP511, a prodrug of hydromorphone. In addition, KemPharm was also recently issued U.S. Patent 9,849,185 for its patent application in the KP511-related family of patents. The patent, entitled "Benzoic acid, benzoic acid derivatives and heteroaryl carboxylic acid conjugates of hydromorphone, prodrugs, methods of making and use thereof." provides a compound, and compositions thereof, of 3-benzoate-hydromorphone.

07:37 EDT Kimberly-Clark sees FY18 CapEx approximately $1.1B - Sees FY18 adjusted effective tax rate of 23%-26%.

07:36 EDT Huntington Bancshares reports Q4 net interest margin 3.30% vs. 3.25% last year - Reports Q4 provision for credit losses $65M vs. $75M last year. Reports Q4 net charge-offs $41M vs. $44M last year.

07:34 EDT Capitala Finance announces exit of Brunswick Bowling Products investment - Capitala Finance Corp. announced the exit of its investment in Brunswick Bowling Products, Inc. On December 22, 2017, the company received $6.2M for its equity investment in Brunswick Bowling Products, Inc., generating a realized gain of $2.5M. On January 19, 2018, the company received $7.2M representing full repayment of its first lien debt investment in Brunswick Bowling Products, Inc.

07:34 EDT Kimberly-Clark CEO: Market conditions will remain challenging in the near-term - Chairman and CEO Thomas J. Falk said, "In 2017, we delivered bottom-line growth in a challenging environment. We also achieved all-time record FORCE cost savings of $450 million and reduced discretionary spending to help offset inflationary cost headwinds. In addition, we returned $2.3 billion to shareholders through dividends and share repurchases." Falk continued, "Although we expect market conditions will remain challenging in the near-term, we plan to deliver better results in 2018 while we begin to implement our new restructuring. We expect organic sales to return to growth while improving our margins and delivering double-digit growth in adjusted earnings per share. In addition, we will increase investments in our brands, our growth initiatives and the capabilities we need for long-term success. We will also continue to allocate capital in shareholder-friendly ways." Falk concluded, "We believe that, over time, our 2018 Global Restructuring Program will accelerate our return to delivering on our long-term growth objectives. This is the biggest restructuring we have undertaken since the introduction of our Global Business Plan in 2003, and it will make our company leaner, stronger and faster. The changes we are making will improve our underlying profitability, provide more flexibility to invest in growth opportunities and help us compete even more effectively. At the same time, we are expecting our ongoing FORCE program to continue to deliver significant results and are making that clear by establishing a multi-year commitment for this program. Combined, our restructuring and FORCE programs will generate more than $2 billion of total cost savings over the next four years, giving us substantial funds to drive profitable growth. Today's announcement is the latest example of Kimberly-Clark's proactive and strategic approach to improving our business so we can win in the marketplace and create long-term shareholder value."

07:32 EDT Allegheny Technologies sees FY18 consolidated CapEx $100M-$125M - "Looking ahead to 2018, we expect continued revenue growth and operating margin improvement in our HPMC segment resulting from ongoing aerospace market demand growth and improved asset utilization," the company said. "In 2018, we expect the FRP segment to build on the operational improvements and product mix benefits achieved in 2017, and to improve operating margins year over year. However, first quarter results are expected to be negatively impacted by approximately $10 million, compared to fourth quarter 2017, due to required accounting changes on retirement benefit cost capitalization in inventory, as well as lower ferrochrome surcharges. We expect the production ramp-up of the planned Allegheny & Tsingshan Stainless joint venture to meaningfully benefit second half 2018 FRP results."

07:32 EDT Kimberly-Clark raises dividend 3.1% - The company's Board of Directors has approved a 3.1% increase in the quarterly dividend for 2018, which is the 46th consecutive annual increase in the dividend.

07:13 EDT Voyager Therapeutics announces FDA clearance of VY-AADC IND application - Voyager Therapeutics announced that the FDA has cleared the Investigational New Drug, or IND, application for VY-AADC, allowing the company to formally initiate clinical trial sites, screen and begin dosing patients for its pivotal Phase 2-3 program for advanced Parkinson's disease. As part of this IND, the chemistry, manufacturing, and controls section included data demonstrating comparability between VY-AADC produced under good manufacturing practice, or GMP, using Voyager's baculovirus/Sf9 manufacturing process and VY-AADC produced using a mammalian cell system consisting of triple-transfection of human embryonic kidney cells.

07:09 EDT Verizon up marginally after reporting Q4 resutls

07:08 EDT JPMorgan hiring 4,000 employees for home lending, small business growth

07:06 EDT JPMorgan expanding philanthropic investments by 40% to $1.75B

07:06 EDT JPMorgan increasing wages to $15-$18/hour for 22,000 employees

07:06 EDT JPMorgan announces $20B, five year investment to support job, economic growth

07:05 EDT JPMorgan makes long-term U.S. investment in employees, branch expansion - JPMorgan Chase today announced a $20B, five-year comprehensive investment to help its employees, and support job and local economic growth in the United States. The firm has always believed that the highest and best use of its capital is to support employees and local communities and businesses by doing what a bank is supposed to do: lending and investing. This long-term investment, which both increases and accelerates the firm's current growth, is made possible by the firm's strong and sustained business performance, recent changes to the U.S. corporate tax system and a more constructive regulatory and business environment. Through this new investment, the firm will develop hundreds of new branches in several new U.S. markets, increase wages and benefits for hourly U.S. employees, make increased small business and mortgage lending commitments, add 4,000 jobs throughout the country and increase philanthropic investments. The $20B investment will focus on the following key areas: Investing in employees with further increases to wages and benefits. Wages will increase 10% on average - ranging from between $15 and $18/hour - for 22,000 employees. Expanding the branch network into new U.S. markets, leading to increased small business lending and philanthropic investments, and further support for local low-and moderate- income communities. Increasing community-based philanthropic investments by 40% to $1.75B over five years. Increasing small business lending by $4B. Accelerating affordable housing lending by (a) increasing mortgage lending in low-and moderate-income communities and (b) accelerating commercial lending to build affordable housing.

07:04 EDT Verizon reports Q4 total retail postpaid churn was 1.00% - Total retail postpaid churn was 1.00 percent in fourth-quarter 2017, a year-over-year improvement of 10 basis points, driven mainly by retail postpaid phone churn of 0.77 percent. This is the 11th consecutive quarter of retail postpaid phone churn of less than 0.90 percent.

07:03 EDT Toyota selects Kinaxis to manage automotive demand and supply - Kinaxis announced Toyota Motor has selected Kinaxis to manage its automotive demand and supply chain processes. Headquartered in Japan, Toyota, one of the world's largest automotive manufacturers, will replace its manual planning systems with RapidResponse to unify the company's global demand and supply planning between its sales and production divisions, and to help better manage vehicle and unit volume.

06:59 EDT Travelers reports Q4 consolidated combined ratio of 95.5% - Reports underlying combined ratio remained strong at 92.4%.

06:58 EDT Travelers reports Q4 book value per share $87.46 - Reports adjusted book value per share of $83.36, up 5% and 4%, respectively, from year-end 2016.

06:51 EDT Waters CEO: We are pleased with our fourth quarter performance - Commenting on the company's performance, Chris O'Connell, Chairman and CEO said, "We are pleased with our fourth quarter performance that capped a year highlighted by consistently strong results in each quarter. The fourth quarter featured broad based strength from our pharmaceutical customers globally, and great balance across our geographies and product lines. The global Waters team executed well throughout 2017, delivering strong financial results while we continue to invest in future growth."

06:48 EDT Aspen Aerogels wins judgement against Hiltex Techniche Weefsels - Aspen Aerogels announced that the Mannheim Regional Court in Germany has issued a series of judgments and related injunctions against Hiltex Techniche Weefsels prohibiting the resale of certain aerogel products originating from China. The judgments are related to litigation involving the resale by Hiltex of aerogel blankets, produced by Alison Hi-Tech, against which Aspen Aerogels asserted four European patents. Based on Hiltex's procedural acknowledgment of Aspen Aerogels' claims, the court issued judgments that include an injunction ordering Hiltex to refrain from supplying the Chinese aerogel products in Germany and a determination that Hiltex is liable to Aspen Aerogels for damages. In connection with the acknowledgment, Aspen Aerogels and Hiltex reached a settlement in which Hiltex has agreed not to resell infringing aerogel blankets in any European country where the patents are maintained. Aspen Aerogels has also sued Alison and Nano Tech in the Mannheim Regional court and the associated litigation remains ongoing.

06:46 EDT Johnson & Johnson CEO 'pleased with passage' of U.S. tax reform law - "Johnson & Johnson delivered strong adjusted earnings per share growth of 8.5% and total shareholder return of greater than 24% in 2017, driven by the robust performance of our Pharmaceutical business, while continuing to make investments in acquisitions, innovation and strategic partnerships to accelerate growth in each of our businesses," said Alex Gorsky, Chairman and CEO. "As we enter 2018 and look beyond, we are experiencing an incredible pace of change in health care. Johnson & Johnson is uniquely positioned to lead during this dynamic era and deliver innovative solutions for patients and consumers that drive sustainable, long-term growth. We are pleased with the passage of recent legislation modernizing the U.S. tax system, which enables Johnson & Johnson to invest in innovation at higher levels to help address the most challenging unmet medical needs facing health care today."

06:44 EDT Johnson & Johnson recorded special item charge of ~$13.6B related to tax reform - Full-year net earnings included after-tax intangible amortization expense of approximately $2.5B and a charge for after-tax special items of approximately $16.2B. Included in these special items is a provisional amount of approximately $13.6B associated with the recent enactment of tax legislation.

06:34 EDT ReneSola comments on U.S. solar products tariff ruling - ReneSola commented on the imposition of safeguard tariffs on certain imported solar cells and modules. "While higher prices for the modules we buy are never welcome, the new tariff rate was widely anticipated," said Doran Hole, ReneSola's CEO of North America and Group Vice President of Strategy. "We believe the U.S. project development industry has already adjusted to the tariffs, and the impact on growth should be benign." In September 2017, the company divested its manufacturing and LED distribution businesses, and is now a pure play downstream player with robust pipeline and operating projects around the world. Accordingly, the company anticipates that the only impact of the tariffs will be to the purchase price of modules used in only one of its markets, the U.S. The company believes that ongoing technical advancement in the cell and module manufacturing industry will drive continued price reductions in the years ahead, which will be beneficial to its business model. Hole continued, "We do not expect the temporarily higher prices of some modules to diminish the rapid growth of new development opportunities in the U.S. Community solar and rooftop distributed generation are two examples of the burgeoning activity we are pursuing. As module prices continue to decline over time, we expect to see accelerating activity in those segments. We remain very optimistic about the growth prospects for the solar energy industry, both in the U.S. and around the world." Yesterday, the U.S. Trade Representative announced that U.S. President Trump approved the recommendation to impose safeguard tariffs on imported solar cells and modules. The relief will include a tariff of 30 percent in the first year, 25% in the second year, 20% in the third year, and 15% in the fourth year. However, the first 2.5 gigawatts of imported solar cells will be exempt from the safeguard tariff in each of those four years.

06:33 EDT Fifth Third reports book value per share of $21.67, up 2% from 3Q17 - Up 9% from 4Q16; Tangible book value per share of $18.10 up 1% from 3Q17 and up 9% from 4Q16.

06:32 EDT Synovus reports Q4 net charge-offs $9.0M down 76.4% - Q4 net charge-offs were $9.0M, down $29.1M or 76.4% from $38.1M in the previous quarter. The annualized net charge-off ratio was 0.15% in the Q4 as compared to 0.62% in the previous quarter.

06:18 EDT Facebook exec on fake news: 'Even with countermeasures, battle won't end' - In a set of blog posts published as part of its "Hard Questions" series, Facebook executives and outside experts assessed the company's impact on elections, partisan politics, and fake news. In one post, Facebook's product manage for civic engagement, Samidh Chakrabarti pointed out many positives -- that the company helps keep people informed about politics, and that it's a venue for debate -- but cautioned that the company will never be able to completely phase out its problems. On the spread of fake news and misinformation on Facebook, he said, "Even with all these countermeasures, the battle will never end." He also said, "I wish I could guarantee that the positives are destined to outweigh the negatives, but I can't. That's why we have a moral duty to understand how these technologies are being used and what can be done to make communities like Facebook as representative, civil and trustworthy as possible." Reference Link

06:07 EDT Walmart to raise wages, provide one-time bonus, expand family leave - Recently, Walmart announced plans to increase the starting wage rate for all hourly associates in the U.S. to $11, expand maternity and parental leave benefits and provide a one-time cash bonus for eligible associates of up to $1,000. The company is also creating a new benefit to assist associates with adoption expenses. The combined wage and benefit changes will benefit the company's more than 1M U.S. hourly associates, including more than 67,500 Walmart associates in Florida, 34,700 Walmart associates in Pennsylvania, 102,840 Walmart associates in Texas, 87,100 Walmart associates in California, and 25,382 Walmart and Sam's Club associates in Tennessee. .

06:05 EDT CMA provisionally finds Fox/Sky deal 'not in the public interest' - The CMA has published the provisional findings from its in-depth examination of the proposed acquisition of Sky Plc (SKYAY) by 21st Century Fox (FOX, FOXA). Following a referral from the Secretary of State for Digital, Culture, Media and Sport, the Competition and Markets Authority has been investigating the deal on two grounds: media plurality and commitment to broadcasting standards. The CMA has provisionally found that Fox taking full control of Sky is not in the public interest due to media plurality concerns, but not because of a lack of a genuine commitment to meeting broadcasting standards in the UK. The media plurality concerns identified mean that, overall, the CMA provisionally concludes that the proposed transaction is not in the public interest.

06:04 EDT Amarin's REDUCE-IT study reaches 90% mark for reported primary events - Amarin announced that its REDUCE-IT cardiovascular outcomes study has reported and documented more than 90% of the targeted 1,612 primary major adverse cardiovascular events. The vast majority of these events have been confirmed (i.e., positively adjudicated as a patient's first on-study primary event) with some unable to be fully adjudicated per study protocol until after completion of the associated patients' final study visits. For this first of its kind, potentially landmark, REDUCE-IT cardiovascular outcomes study, Amarin confirmed that it is on track for onset of the targeted 1,612th event to occur before the end of Q1 2018. Patients are being scheduled for final study visits commencing March 1, 2018. Amarin maintains its guidance to report top-line results from the study before the end of Q3 2018.

06:02 EDT Google launching AI research center in France, expanding office - Google CEO Sundar Pichai said in a blog post, "We will open four local Google Hubs called "Les Ateliers Numeriques" across France, run by a network of local partners from the digital sector. These physical spaces will provide a long-term Google presence in French cities, with a dedicated team setting up free trainings in online skills and digital literacy. With our partners, we intend to help people find better jobs, keep their families safe online, and develop their businesses or careers. Brittany will be our pilot region, with the opening of a Google Hub in Rennes during first half of 2018; three other hubs will follow. This will bring the best digital training within easy reach of more than 100,000 people every year... It's only natural that we set up a new research team in Google France around the age's defining technology: artificial intelligence. Our new research team will work closely with the AI research community in France on issues like health, science, art and the environment. They will publish their research and open-source the code they produce, so that everyone can use these insights to solve their own problems, in their own way. To keep pace with this digital growth, we need to expand our presence in France. We announced recently that our staff in France will increase by 50%, bringing our total workforce to more than 1,000 Googlers. Our offices will also grow by 6,000 m2, via new buildings connected to our office today." Reference Link

05:45 EDT Tesla announces new long-term performance award for Elon Musk - Tesla announced a new 10-year CEO performance award for Elon Musk with vesting entirely contingent on achieving market cap and operational milestones that would make Tesla one of the most valuable companies in the world. In order to fully vest, Tesla's market cap would have to grow to $650B, an increase of almost $600B, and important revenue and profitability goals would also have to be achieved. The award is modeled after Elon's 2012 performance award, which helped bring about a more than 17-fold increase in Tesla's market cap in the five years after it was put in place. Elon will receive no guaranteed compensation of any kind - no salary, no cash bonuses, and no equity that vests simply by the passage of time. Instead, Elon's only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of its shareholders do extraordinarily well. Because all Tesla employees are provided equity, this also means that Elon's compensation is tied to the success of everyone at Tesla. The performance award consists of a 10-year grant of stock options that vests in 12 tranches. Each of the 12 tranches vests only if a pair of milestones are both met. Market Cap Milestones: To meet the first market cap milestone, Tesla's current market cap must increase to $100B. For each of the remaining 11 milestones, Tesla's market cap must continue to increase in additional $50B increments. Thus, for Elon to fully vest in the award, Tesla's market cap must increase to $650B. Operational Milestones: To meet the operational milestones, Tesla must meet a set of escalating Revenue and Adjusted EBITDA targets. These milestones are even more directly aligned with shareholder value creation than those used in Elon's 2012 performance award. They are designed to ensure that as Tesla's market cap grows, the company is also executing well on both a top-line and bottom-line basis. For each of the 12 tranches that is achieved, Elon will vest in stock options that correspond to 1% of Tesla's current total outstanding shares. If none of the 12 tranches is achieved, Elon will not receive any compensation. For vesting to occur when the milestones are met, Elon must remain as Tesla's CEO or serve as both Executive Chairman and Chief Product Officer, in each case with all leadership ultimately reporting to him. This ensures that Elon will continue to lead Tesla's management over the long-term while also providing the flexibility to bring in another CEO who would report to Elon at some point in the future. Although there is no current intention for this to happen, it provides the flexibility as Tesla continues to grow to potentially allow Elon to focus more of his attention on the kinds of key product and strategic matters that most impact Tesla's long-term growth and profitability. This new performance award is similar to the structure of Elon's last compensation award, which was put in place in 2012. Under that plan, Elon was awarded stock options that vested only if the company's market cap continued to increase in $4B increments and if it achieved matching operational milestones, including vehicle production targets and developmental milestones relating to the Model X and Model 3 programs. While these milestones were viewed at the time as very difficult to achieve, all of the market cap milestones and 9 of the 10 operational milestones have been achieved.

05:23 EDT Logitech up 5.1% after reporting Q3 results, raising FY18 outlook