Stockwinners Market Radar for January 25, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:15 EDT Assured Guaranty responds to Puerto Rico's revised fiscal plan proposals - Assured Guaranty released the following comments regarding the revised fiscal plans submitted by the government of Puerto Rico, PREPA and PRASA for certification by the Financial Oversight and Management Board for Puerto Rico: "Meeting PROMESA's dual stated purpose of fiscal responsibility and restoration of the Commonwealth's access to the capital markets has become even more critical in the aftermath of the hurricane damage in Puerto Rico. After Hurricane Maria, Assured Guaranty voluntarily withdrew its litigation challenging the legality of the original Commonwealth Fiscal Plan, in order to remove a possible distraction from the recovery effort, and because the plan would now be subject to revision. The withdrawal of this and other parties' litigation following the hurricane created an opportunity for the Oversight Board and Puerto Rico government to reassess and chart a new course of action. This should have facilitated new engagement between the Oversight Board, the Puerto Rico government, its creditors and its residents to work toward a comprehensive, consensual plan that would prevent years of costly litigation the Puerto Rican people can ill afford. Sadly, Puerto Rico's authorities have squandered a critical opportunity. We appreciate the significant time and effort that goes into the development of these plans, and welcome the scrutiny of operational and organization structures that have been put forth. However, when the Oversight Board asked for revised plans in light of the hurricane damage, the government and Oversight Board should have taken the opportunity to reset the relationship with all stakeholders and produce plans that focus on recovery efforts and comply with the mandatory requirements of PROMESA, the Commonwealth Constitution, and the United States Constitution... Collaboration on developing a fiscally sound strategy that involves all stakeholders, especially those with constitutional rights and contractual liens, and that prioritizes a detailed and substantiated reconstruction plan, would be a far better solution than certifying a non-collaborative five-year plan in which no one can have confidence because its assumptions and development are secretive. This is a government that has been unable to produce audited financial reports for fiscal years 2015, 2016 and 2017 and continues to evade current financial transparency. Nevertheless, they ask investors to accept a complete rejection of their legal rights based on unsubstantiated long-term assessments of the economic impact of the hurricane, and draconian guesses on out-migration. The Revised Fiscal Plans are fiscally irresponsible, and ensure a continued lack of access to the traditional capital markets. Rather than force Puerto Rico to spend hundreds of millions more in litigation, advisory and Oversight Board costs for years to come, we once again urge the Commonwealth Government and Oversight Board to meaningfully engage with creditors for the benefit of Puerto Rico."

18:31 EDT Eli Lilly's Elanco announces global pact with Ab E Discovery - Elanco Animal Health, a division of Eli Lilly announced a new global in-licensing agreement with Ab E Discovery to further develop and bring to market an egg antibody focused on supporting gut health, and thereby the growth and welfare, of poultry. Developed at the University of Wisconsin-Madison by Drs. Mark Cook and Jordan Sand, this unique innovation targets anti-nutritional challenges found in an animal's gut. This technology, when fully developed, will focus on the natural ability of hens to pass antibodies to their offspring through eggs. Adding egg proteins to the diets of young birds passes on antibodies to improve gut health. A healthy gut can decrease susceptibility to certain pathogens, such as Eimeria spp., which is known to cause coccidiosis. The technology is in late-stage development, with an initial focus on poultry. Elanco has the exclusive global rights for all animal species. By 2020, Elanco aims to deliver a total of 25 viable antibiotic alternative development projects that address critical unmet challenges in livestock production and reduce the need for shared-class antibiotics that are also critical to human medicine.

18:02 EDT Weyco Group partners with Samar Lifestyle to launch the Florsheim brand in Asia - Addressing an opportunity, Weyco Group has signed a licensing agreement with Samar Lifestyle Private Limited, part of Sara Group, to produce and distribute Florsheim Footwear in India and Pakistan, and also Bangladesh, Nepal and Bhutan. The Florsheim collection will be available starting in the Spring/Summer 2018 season across 100+ points of sale across India. The Sara Group will be introducing flagship Florsheim stores in India in late 2018 with an additional 5 stores in 2019.

18:01 EDT BIOLASE responds to patent litigation by CAO Group - BIOLASE released the following statement in response to the latest attempt by CAO Group, Inc. to use patent litigation to try to improve its competitive position in the marketplace. "Though the lasers at issue represent less than a third of the company's revenues and are entirely unrelated to Waterlase, its flagship brand, BIOLASE intends to fight CAO's most recent meritless claims vigorously. BIOLASE is well-known for its own innovations, and for respecting the valid intellectual property rights of others. It is not surprising that CAO has failed for years in its attempts to intimidate BIOLASE through abusive patent litigation. The most crucial claims against BIOLASE were rejected by the Patent Trial and Appeal Board, as well as the Court of Appeals for the Federal Circuit. BIOLASE is fully confident that this latest attempt will also fail. BIOLASE licenses some of its technology to other manufacturers for commercially reasonable royalties, but BIOLASE does not license patents that are invalid or do not cover its products. CAO's latest frivolous claims overlap significantly and focus on lasers with various non-differentiating feature combinations such as replaceable tips, wireless foot pedals, battery packs, laser fiber connectors, laser monitoring integrated circuits and touch screens. Dentists know that these features have been used in lasers for many years, and these features do not represent innovations worthy of patent protection."

17:45 EDT Marcus & Millichap hires Scott Holmes as director of Retail Division - Marcus & Millichap announced that Scott M. Holmes has joined the firm as senior vice president and national director of its retail division, which provides investment, advisory and transaction services for every type of retail real estate. Holmes, an industry veteran with over 25 years' experience in the commercial real estate investment business, will be responsible for directing the firm's retail business strategy nationwide. Marcus & Millichap's retail division is among the leading brokers of single-tenant net lease assets and shopping centers in the industry.

17:44 EDT Western Digital says expects further cost/expense reductions in 2018

17:36 EDT Starbucks sees 'softer' Q2 results than Q1 - Sees slight operating margin decrease in FY18. Says operational priority is focused on U.S. business.

17:28 EDT Starbucks says Q1 revenue, EPS, comps 'fell short' of expectations - Says did not meet all expectations for the quarter. Says Q1 revenue, EPS, comp "fell short" of expectations. Says focused on driving improvement across the U.S. Says comp store performance in Japan continues to be impacted by softness of temporary store offerings. Says Q1 China comp driven by breakfast, bakery, espresso.

17:27 EDT Charles Schwab raises quarterly dividend 25% to 10c per share - The Board of Directors of Charles Schwab increased the quarterly cash dividend by 2c, or 25%, to 10c per common share. The dividend is payable February 23 to stockholders of record as of the close of business on February 9. The new dividend rate is consistent with the company's target range of approximately 20%-30% of net income.

17:25 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: 8x8 Inc. (EGHT), up 9%... Maxim Integrated (MXIM), up 4.7%... Intel (INTC), up 4.4%... Celanese (CE), up 1.5%... Matthews (MATW), up 1.4%. ALSO HIGHER: Tesla (TSLA), up 1.1% after a spokesman told Bloomberg that the company is on pace with its projection boost to Model 3 production rates. DOWN AFTER EARNINGS: Western Digital (WDC), down 4.8%... Intuitive Surgical (ISRG), down 3.7%... Starbucks (SBUX), down 3.2%... E-Trade (ETFC), down 1.3%... KLA-Tencor (KLAC), down 0.9%. ALSO LOWER: Adverum Biotechnologies (ADVM), down 4.7% after it extended its research collaboration with Editas Medicine (EDIT)... Equinix (EQIX), down 2.7% after CEO Steve Smith resigned.

17:24 EDT Intuitive Surgical down around 5% aftet Q4 results - Shares are trading off their after-hour lows to approximately $426 per share in after-hours trading.

17:21 EDT Intel extending afterhours gains, up 4.6% on earnings call comments

17:19 EDT Intel CFO says on track to exceed 3-year revenue goals made at last analyst meet

17:13 EDT Starbucks to launch co-branded credit card with Chase, Visa in February - Starbucks (SBUX) reports Q1 Food comp up 2% in U.S. Says "aggressively" rationalizing merchandizing approach. Says holiday gift cards "disappointing" in Q1. Says continuing to drive innovation in food and beverage. Says blonde espresso roast should appeal to a broad audience. Sees payment methods continuing to evolve. Says launching co-branded credit card in February with Chase (JPM) and Visa (V). Says also launching co-branded store value card for customers who can't qualify for credit cards. Comments taken from Q1 earnings conference call.

17:06 EDT MBT Financial authorizes stock repurchaase of up to 2 million shares - MBT Financial authorized the repurchase of up to 2 million shares of its common stock. This represents 8.7% of the shares currently outstanding. The authorization commences February 1, 2018 and expires January 31, 2020. The authorization replaces a two year authorization to repurchase up to 2 million shares that is set to expire on January 31, 2018. During that authorization, 192,080 shares were repurchased.

17:03 EDT Intuitive Surgical sees 2018 gross profit margin 70%-71.5%

17:00 EDT Tetra Tech acquires BridgeNet, terms not disclosed - Tetra Tech announced that it has acquired Bridgenet International. BridgeNet is an aviation technology solutions firm based in Newport Beach, California, that is focused on aerospace data analytics, environmental and acoustic consulting, and 3-dimensional airspace visualization for federal and commercial aviation customers. BridgeNet develops, sells, and supports its proprietary software, Volans, a web-based 3-dimensional application designed to create, evaluate and display flight operations. This tool enables engineers and aviation experts to simulate and display potential acoustic and environmental impacts from new performance-based navigation procedures and flight operations, as well as runway and airfield configurations. Volans is being used throughout the world, including in the United States, Canada, Australia, France and England.

16:48 EDT Heritage Commerce raises quarterly dividend 10% to 11c per share - Heritage Commerce announced that its board of directors increased the quarterly cash dividend 10% to 11c per share to holders of common stock. The dividend will be payable on February 22, 2018, to shareholders of record at close of business day on February 8, 2018.

16:45 EDT Woodward raises quarterly dividend 14% to 14.25c per share - dividend will be payable on March 6 for stockholders of record as of February 20.

16:40 EDT Intuitive Surgical anticipates increased competition - Comments from Q4 earnings conference call.

16:34 EDT CNH Industrial reports impact estimates for U.S. and Venezuela - CNH Industrial estimates that, as a result of the U.S. Act and tax legislation changes enacted in the UK and certain other countries, its consolidated net income for the quarter ending December 31, 2017 will include a non-cash tax charge up to $125m under US GAAP - and a non-cash benefit of $20M under IFRS. Furthermore, as a consequence of the accelerated deterioration of conditions in Venezuela, including the persisting restrictive exchange control regulations, which prevent any payments out of the country, the company assessed its inability to control its Venezuelan operations and decided to deconsolidate such operations effective December 31, 2017. As a result, the company will record a non-cash pre- and after-tax charge of approximately $90M under US GAAP, $50M under IFRS.

16:27 EDT Editas Medicine to make $500K payment to Adverum in amended pact - s previously disclosed, in August 2016, Adverum (ADVM) Biotechnologies entered into a collaboration, option and license agreement with Editas Medicine (EDIT) pursuant to which Adverum and Editas collaborate on certain studies using adeno-associated viral vectors in connection with Editas' genome editing technology and Adverum granted to Editas an exclusive option to obtain certain exclusive rights to use Adverum's proprietary vectors in up to five ophthalmic indications. On January 25, 2018, Adverum and Editas entered into an amendment to the collaboration, option and license agreement. In consideration for entering into the amendment, Editas will make a one-time payment to Adverum of $500,000.Under the terms of the agreement, as amended, Editas may exercise the option with respect to a designated initial indication until September 30, 2018. With respect to the four other indications, Editas may exercise the option until the fourth anniversary of the effective date, provided that the option will expire on the third anniversary of the effective date if Editas has not exercised the option with respect to the initial indication or any other indication by such date. Upon Editas' timely exercise of the option with respect to the designated initial indication, Editas will pay Adverum a $1.3 million fee. For the first additional indication for which Editas timely exercises its option, Editas will pay Adverum a $1.5 million fee. Upon each subsequent exercise of the option, Editas will pay Adverum a $1.0 million fee per indication.

16:27 EDT Celanese sees AEM pipeline model evolving in 2018 - "We set out in 2017 to further strengthen our business models in both AEM and the Acetyl Chain while addressing the headwinds in Consumer Specialties. In AEM, we made progress on integrating two high value-add acquisitions. Organic growth was further enhanced by extending the opportunity pipeline to the newly integrated polymers, creating current and future earnings uplift. In the Acetyl Chain, the business planned efficiently to address the scheduled turnaround in Clear Lake and also responded swiftly to address industry disruptions by leveraging its global supply chain. As a result, in 2017 we reported the second highest operating profit of $901 million and record adjusted EBIT of $1.4 billion. In 2018, we expect the AEM pipeline model to evolve to a higher level of project volume and the Acetyl Chain to carry forward the momentum from its improved model. Tow earnings should be relatively flat. An early read on the recent tax reform indicates a 2 percent lower adjusted tax rate of 14 percent for Celanese in 2018. Taking all these drivers into consideration, current estimations for 2018 put growth of adjusted earnings per share in the 10-14 percent range, with more of the growth in the first half of the year," said Mark Rohr, chairman and chief executive officer.

16:19 EDT Tredegar expands North America elastics capacity, investing $25M - Tredegar Personal Care, an operating division of Tredegar Corporation, announced that it plans to expand its North American manufacturing capacity for elastic fabrics for personal care applications. In response to increased demand for fit and comfort enhancing products for adult incontinence and baby care applications, the company plans to invest approximately $25 million in new technology and capacity in its Terre Haute, Indiana plant to enable production of its FlexAire elastic fabric products. The company is currently seeking local approval of the expansion, and, pending approval of tax abatements, expects this additional capacity to be fully operational by the fourth quarter of 2019.

16:16 EDT Mercury Systems receives $3.9M secure SSD order - Mercury Systems announced it received a $3.9M follow-on order from a leading defense prime contractor for custom-engineered secure solid-state drives deployed in an airborne mission management application. The order was booked in the company's Q2 and is expected to be shipped over the next several quarters.

16:13 EDT Western Digital falls 4.8% afterhours following Q2 earnings

16:12 EDT Maxim Integrated raises quarterly dividend 17% to 42c per share - A cash dividend of 42c per share will be paid on March 15 to stockholders of record on March 1.

16:10 EDT Equinix CEO Steve Smith resigns; Peter Van Camp appointed interim CEO - Equinix announced that CEO Steve Smith has made the difficult decision to resign as CEO, and from the Equinix Board of Directors, after exercising poor judgment with respect to an employee matter. The Equinix Board of Directors, in the best interests of the company, has accepted his resignation and appointed Executive Chairman Peter Van Camp interim CEO of the company, effective immediately. The Board will commence a formal process to appoint a new CEO. Van Camp has been with Equinix in key roles for more than 17 years. Van Camp served as CEO of Equinix for seven years (2000 to 2007).

16:08 EDT Starbucks reports Q1 China revenues up 30% - "Starbucks reported another quarter of record financial results in Q1 of fiscal 2018, with consolidated revenues up 6% over last year - up 7% excluding 1% for the impact of streamlining activities in the quarter. China grew revenues 30% in Q1, with the strategic acquisition of East China positioning us to accelerate our growth in the key China market," said Kevin Johnson, president and ceo. "Today, Starbucks has two powerful, independent but complementary engines driving our global growth, the U.S. and China. Our work to streamline the company is sharpening our focus on our core operating priorities."

16:07 EDT Intuitive Surgical reports Q4 da Vinci procedures grew approximately17% - Worldwide da Vinci procedures grew approximately 17% compared with the fourth quarter of 2016, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures. The Company shipped 216 da Vinci Surgical Systems compared with 163 in the fourth quarter of 2016.

16:06 EDT Maxim Integrated raises quarterly dividend 17% to 42c per share

16:05 EDT Intel raises dividend 10% to $1.20 per share on annual basis - Intel announced that its board of directors has approved an increase in its cash dividend to $1.20 per-share on an annual basis, a 10% increase. The board also declared a quarterly dividend of 30c per-share on the company's common stock, which will be payable on March 1 to shareholders of record on February 7.

16:01 EDT Alnylam receives EMA accpetance of MAA for patisiran - Alnylam Pharmaceuticals announced that the European Medicines Agency has accepted the Marketing Authorisation Application and initiated its review for patisiran, an investigational RNAi therapeutic targeting transthyretin for the treatment of hereditary ATTR amyloidosis. The filing of the MAA was previously announced on December 18, 2017, and patisiran was previously granted accelerated assessment by the EMA, potentially reducing the Agency's evaluation time from 210 to 150 days. "By evaluating the patisiran application under accelerated assessment, the EMA acknowledges the urgent need for a new treatment approach to address the debilitating and devastating effects of hATTR amyloidosis," said Eric Green, Vice President and General Manager of the TTR program at Alnylam. "We plan to work closely with the EMA and Committee for Medicinal Products for Human Use toward the goal of bringing patisiran to patients with hATTR amyloidosis in the EU as quickly as possible."

15:10 EDT WWE's Vince McMahon says XFL coming back in 2020 - WWE's Vince McMahon announced today that his company Alpha Entertainment is bringing back the pro-football league XFL, which is expected to launch in 2020. McMahon said there will be eight teams, ten games, and one final championship game. Fans "will be able to watch the games on big screens and mobile devices." No franchise model, he noted, adding that the XFL is expected to start end of January, beginning of February.

14:46 EDT Eversource jumps 5% to $64.24

14:02 EDT Future FinTech to acquire 60% of digital assets associated with DCON - Future FinTech announced that on January 23, one of its wholly owned subsidiaries, DigiPay FinTech Limited, entered into an agreement to acquire 60% of the digital assets associated with DCON, a blockchain development project that has developed 100 communities utilizing blockchain technology and which intends to conduct a variety of financial businesses to provide users with a diversified blockchain experience. "We believe that this agreement furthers our strategic plan to rapidly grow our company into a diversified fintech firm. The acquisition of the DCON digital assets will enable us to realize the value connectivity between cryptocurrencies and the end user," said CEO Hongke Xue.

13:32 EDT Air Products to supply Samsung Display complex under long-term contracts - Air Products (APD) announced it has been awarded new long-term contracts from Samsung Display (SSNLF) to supply gaseous nitrogen and oxygen, and liquid argon to Samsung's Organic Light Emitting Diode manufacturing complex in Tangjeong, South Korea. Air Products has been supplying Samsung Display's Tangjeong production line since 2004. The company is operating five nitrogen plants, a pipeline network and associated infrastructure to support this world-scale complex.

13:14 EDT Southwest CEO says no work on a new fleet type underway - Says could consider new fleet type "in a generation."

13:10 EDT Southwest says would use savings from lower corporate tax rate on aircraft

12:56 EDT Southwest CFO says expects 2018 capacity to be up in low 5% range - Sees 1H capacity up in low 3% range, 2H capacity up in low 7% range, with higher y/y growth in Q4.

12:47 EDT Southwest sees FY18 CASM ex-items flat to down 1% y/y

12:43 EDT Southwest says will no longer provide RASM guidance in monthly traffic report - Says "turned the corner" on unit revenue declines in Q4. Expects 1%-2% unit revenue growth for Q1 on "strong" bookings. Southwest says its goal is for positive unit comparisons for 2018. Says plans for 2018 "unchanged." Sees 2018 capital spending "down" from 2017. Says travel demand bookings looking "solid" for Q1. Says will no longer provide RASM guidance in its monthly traffic report. Comments taken from the Q4 earnings conference call. Southwest Airlines is down 2.5% in afternoon trading to $60.69. The broader airline sector is also lower. The Fly notes that Southwest peers American Airlines (AAL) and JetBlue (JBLU) reported quarterly earnings this morning.

12:36 EDT Citron says 'not wrong,' keeps $35 target on Exact Sciences - Citron Research just tweeted "$EXAS new info from TODAY #PMWC2018 is a must read. We were early buy not wrong. prweb.com/releases/2018/...Stock target $35 short term citronresearch.com Full report to be up today."

12:21 EDT Newell Brands falls amid transformation plan, weak guidance, director exit - Shares of Newell Brands (NWL) are falling after the company announced a large-scale transformation plan and reported weak preliminary results and disappointing guidance. Separately, the company announced the resignation of three directors from its board. PORTFOLIO RECONFIGURATION: On Thursday, Newell Brands announced it will explore a series of strategic initiatives to accelerate its transformation plan, improve operational performance and enhance shareholder value. Newell will focus its portfolio on nine core consumer divisions with approximately $11B in net sales and $2B of EBITDA and explore strategic options for industrial and commercial product assets like Waddington, Process Solutions, Rubbermaid Commercial Products and Mapa, as well as for smaller consumer businesses, including Rawlings, Goody, Rubbermaid Outdoor, Closet, Refuse and Garage, and U.S. Playing Cards. Newell said, "Execution of these strategic options would result in a significant reduction in operational complexity through a 50% reduction in the company's global factory and warehouse footprint, a 50% reduction in its customer base and the consolidation of 80% of global sales on two enterprise resource planning platforms by end of 2019." If fully actioned, Newell said it would expect to be an "approximately $11B focused portfolio of leading consumer-facing brands with attractive margins and growth potential in global categories." The company will begin the evaluation process immediately and expects any resulting transactions to be completed by the end of 2019. PRELIMINARY RESULTS AND GUIDANCE: Newell Brands announced preliminary estimated results for 2017, anticipating core sales growth of approximately 0.8%, down from previous guidance 1.5% to 2.0%, and normalized earnings per share in the range of $2.72-$2.76, down from previous guidance $2.80-$2.85, and below analysts' estimates of $2.81. Newell said its core sales results were impacted by "an acceleration of the gap between sell-in and sell-through results due to a continuation of retailer inventory rebalancing in the U.S. and the bankruptcy of a baby retailer." In addition, the company said it expects to achieve market share growth in its core categories and geographies in 2018, with core sales growth despite continued retailer inventory reductions. Normalized EPS for 2018 is expected to be approximately $2.65 to $2.85, which includes the negative impact of an approximately $135M replenishment of management and sales bonuses that were not earned in 2017, and assumes a tax rate of 20% to 21% after the benefits from U.S. tax reform. The 2018 EPS view is well below analysts' estimates of $2.94 and the company's guidance assumes continued ownership of all assets for the entire calendar year. BOARD CHANGES: Newell also announced that Ian Ashken, Domenico De Sole and Martin Franklin have resigned from the Board of Directors. The changes are currently effective. MORE INVESTABLE: Following the announcement, SunTrust said Newell reset the bar in announcing Q4 results, below consensus 2018 guidance, a new strategic initiative to simplify its portfolio, and board of director changes. The firm's analyst views the announcements as a positive and said the news makes shares even more investable for 2018. SunTrust has a Buy rating on the stock. CONFIDENCE LOST: Meanwhile, Barclays analyst Lauren Lieberman downgraded Newell Brands to Equal Weight from Overweight and cut her price target for the shares to $26 from $35. "Put simply, we've lost confidence," the analyst said. Lieberman said she has concerns given the scale of Newell's transformation expected in 2018, including the mechanics around easing overhead from divestitures, incremental restructuring and the lack of visibility around cash flow. The analyst added she is worried about the near-term pipeline for innovations and the company's ability to protect market share amid the large-scale transformation, which Lieberman feels is taking place at an "inopportune" time given the external retail environment. PRICE ACTION: Newell Brands dropped 23.15%, or $7.23, to $24.00 in afternoon trading.

12:17 EDT Ford announces agreement to acquire Autonomic, terms not disclosed - Ford is announcing an agreement to acquire Autonomic, a Palo Alto, California-based technology company that specializes in scale, architecture and leverage for transportation industry solutions. Ford's acquisition of Autonomic will accelerate the automaker's mission to establish the Transportation Mobility Cloud platform and support its plans to scale up other key mobility initiatives, including the drive toward full connectivity, Chariot and non-emergency medical transportation. In addition to being able to fully capture the value created by this platform, Ford also will benefit from the Autonomic team's capabilities in creating and incubating new mobility businesses, as well as relationships that will further improve Ford's access to top technology talent.

12:12 EDT Northrop Grumman says fourth sector called Innovation Systems

12:09 EDT Dominion Midstream raises quarterly cash distribution 5% to 31.8c per share - The board of directors of Dominion Energy Midstream has declared a Q4 cash distribution of 31.8c per common and subordinated unit - an increase of 5% above the Q3 distribution - which corresponds to an annualized distribution rate of $1.27 per such unit. Distributions are payable on Feb. 15, 2018, to unitholders of record at the close of business Feb. 5, 2018.

12:03 EDT Novartis granted FDA orphan status for treatment of spinal muscular atrophy - Novartis' branaplam was granted FDA orphan status as a treatment of spinal muscular atrophy, or SMA, according to a post to the agency's website. Reference Link

11:55 EDT Philip Morris down 4% after FDA panel votes on iQOS product - Peer Altria (MO) is also down 4% as an FDA advisory panel is debating Philip Morris' (PM) application to sell its new iQOS tobacco device with a modified-risk claim that it is less harmful than cigarettes.

11:38 EDT Summit Therapeutics jumps after report of data from muscular dystrophy trial - Shares of Summit Therapeutics have surged after the company announced 24-week interim results from the open-label Phase 2 proof of concept clinical trial, PhaseOut DMD, which is evaluating the utrophin modulator ezutromid in patients with Duchenne muscular dystrophy. The focus of the planned interim analysis was on biopsy measures that show: treatment with ezutromid resulted in a statistically significant and meaningful reduction in muscle damage as measured by a 23% decrease in mean developmental myosin in muscle biopsies at 24 weeks compared to baseline; a total of 14 of 22 patients showed a decrease in developmental myosin, with five of those showing a greater than 40% reduction; an increase in mean utrophin protein intensity levels of 7% in biopsies at 24 weeks compared to baseline. "Achieving this significant reduction in muscle damage after only 24 weeks of ezutromid treatment is a landmark moment for our utrophin modulation programme. These promising interim data enhance our belief that longer-term treatment with ezutromid could achieve meaningful functional benefits for patients living with DMD. We now look forward to announcing the top-line data from the full 48-week trial in the third quarter of this year and in parallel accelerating preparations for the advancement of ezutromid into a pivotal clinical trial in patients," stated CEO Glyn Edwards. In morning trading following this morning's report, Summit Therapeutics shares trading in New York have risen $2.93, or 24%, to $15.14.

11:26 EDT Caterpillar says commodity prices generally above investment thresholds

11:19 EDT Snap drops as Twitter prepares rival video tool, top executive departs - Shares of Snap Inc (SNAP) dropped in morning trading following a report that Twitter (TWTR) is developing a Snapchat-style camera-centered tool to make it easier to post video instantly. Separately, Snap Vice President of Product Tom Conrad is leaving the company in March. POTENTIAL TWITTER COMPETITOR: Twitter is working on a tool to make it easier to instantly and easily post videos on the company's app in an effort to attract more users, according to a report from Bloomberg, which cited people familiar with the matter. The feature, which does not yet have a finalized design or timing for launch, is looking to reduce the number of steps it takes to share videos and photos on Twitter and comes after Facebook (FB) has copied innovations from Snap's Snapchat in the past. A Twitter spokesman declined to comment on the report, though CEO Jack Dorsey said in October that "We're focused on making our service faster, easier to use, and more relevant to more people everyday." Twitter has recently introduced changes to improve user experience, including doubling its character count and introducing a threading feature allowing users to to post "threads" simultaneously. Dorsey has previously praised Snapchat, calling the app "very modern" while noting that Twitter can be "confusing." VP OF PRODUCT LEAVING COMPANY, INDUSTRY: Tom Conrad, Snapchat's VP of Product and one of CEO Evan Spiegel's top lieutenants, is leaving the company and the tech industry entirely to focus on "music, food, photography and art," Conrad told TechCrunch. Jacob Andreou, who reported to Conrad, will assume Conrad's role without a new official title. WHAT'S NOTABLE: Conrad's departure could introduce "instability" at a critical time for Snapchat's product, TechCrunch said. In addition to being in the midst of rolling out a major redesign to its app, Snap recently laid off about two dozen employees across eight different teams, mostly in its content division, and Mashable and Muddy Waters questioned Snap's user metrics. Mashable's article focused on Snapchat "inflating, exaggerating, or outright lying about its user metrics, depending on the point-of view in question," while Muddy Waters said "These metrics, there's no basis where you can reconcile. I think it puts us in a dangerous area." PRICE ACTION: Snap is down 4.5% to $13.80 in morning trading.

11:18 EDT Caterpillar sees strong showing from China in 1H - The company expects China to be strong in 1st half but sees gradual tightening to impact the 2nd half. Caterpillar anticipates good construction activity in the rest of the region.

11:00 EDT Cleveland-Cliffs expects to cease Australian mining operations in 2018

10:50 EDT Pacific Biosciences jumps over 15% after BGI buys additional Sequel Systems - Earlier today, BGI and Pacific Biosciences announced an agreement by BGI Genomics to purchase an additional 10 Sequel Systems. This will significantly expand the capacity for Single Molecule, Real-Time (SMRT Sequencing for BGI's global sequencing service business, which currently operates two Sequel Systems and a PacBio RS II Sequencing System. Pacific Biosciences' shares are up over 15% in morning trading to $3.11 per share.

10:39 EDT Ballard Power drops after Spruce Point starts with Strong Sell rating - Shares of Ballard Power are dropping in early trading after Spruce Point Capital Management issued a cautious report, starting the stock with a Strong Sell rating. Ballard is "set to disappoint" as a result of having selected the wrong Chinese partners and the market for its products not having developed as expected, contends the research firm, citing its "on the ground China research." The firm set a long-term price target of $1.15-$2.50 per share on Ballard, which has dropped 28c, or 7%, to $3.51 following the circulation of Spruce Points report.

10:25 EDT JetBlue sees CASM ex-fuel trends improving throughout 2018, into 2019 and 2019

10:22 EDT JetBlue sees cost savings of $250M-$300M by 2020

10:11 EDT JetBlue sees mid to high single digit capacity growth over next few years

09:54 EDT Ohio Valley Banc Corp trading resumes

09:49 EDT Ohio Valley Banc Corp trading halted, volatility trading pause

09:38 EDT Lennar reports mortgage unit subpoenaed by DOJ

09:30 EDT Key Technology to be acquired by Duravant for $26.75 in cash - Duravant announced that it has entered into a definitive agreement to acquire Key Technology. Under the terms of the agreement, which has been unanimously approved by Key Technology's board, Duravant will commence a tender offer to acquire all of the outstanding shares of Key common stock for $26.75 in cash, in a transaction valued at approximately $175M.

09:28 EDT Xplore Technologies appoints Tom Wilkinson as CEO - Xplore Technologies announced the appointment of Tom Wilkinson as its CEO. Wilkinson has served as the company's acting CEO since the October 31, 2017 resignation of previous CEO Mark Holleran and continues to serve as the company's CFO.

09:26 EDT 3M sees FY18 capital expenditures $1.5B-$1.8B - Sees FY18 effective tax rate between 20%-22%. Says "remains encouraged by the numerous opportunities" to invest in business while returning capital to shareholders. Expects FY18 capex of $1.5B-$1.8B, up from $1.5B-$.17B. Says Q4 was a "strong ending to a strong year." Saw organic growth across all businesses and geographic areas. Says continues to make progress on portfolio management, investing in innovation and business transformation. Says positioned to build on momentum in 2018. Comments taken from Q4 earnings conference call.

09:26 EDT Hanmi Financial increases quarterly cash dividend 14% to 24c per share - Hanmi Financial declared a cash dividend on its common stock for Q1 of 24c per share, up 14.3% from 21c per share in the prior quarter. The dividend will be paid on February 23 to stockholders of record as of the close of business on February 5.

09:22 EDT Ladder Capital declines Related Fund's acquisition proposal - Ladder Capital disclosed that after "carefully reviewing" the $15 per share acquisition proposal from Related Fund Management, its board has determined that the proposal "undervalues" the company. Ladder Capital, therefore, "respectfully declined" the proposal as not being in the best interests of its shareholders. The board has communicated its response to Related Fund.

09:19 EDT American Airlines CEO: 'Fares are too low for oil prices this high'

09:16 EDT MoneyGram names Grant Lines as Global Chief Revenue Officer - MoneyGram announced that Grant Lines has been promoted to Global Chief Revenue Officer. The company also announced that Kamila Chytil, Chief Global Operations Officer, has expanded her role and responsibilities to include Information Technology along with Product Management and Sales Delivery. Both executive appointments continue to report into Alex Holmes, CEO of MoneyGram, and both are effective immediately.

09:12 EDT Pure Storage extends VMware integration with new private cloud solutions - Pure Storage (PSTG) extended its collaboration with VMware (VMW) to enable mutual customers with their cloud environments with support for VMware vSphere Metro Storage Cluster, vSphere Virtual Volumes and the VMware Validated Design.

09:08 EDT American CEO: 'We're not going to pine on another airline's capacity plans'

09:07 EDT Inseego announces new organizational structure around two business unit - Inseego Corp announced a new organizational structure designed to facilitate the company's strategic plan. The company will be organized around two strategic business units: Enterprise SaaS Solutions and IoT & Mobile Solutions, both supported by a single organization, Global Shared Services. The new structure integrates the company's core competencies in mobile devices and cloud platforms to increase customer engagement in growth markets, accelerate the development of new products and improve operational efficiency.

09:05 EDT Key Technology trading halted, news pending

09:03 EDT E.W. Scripps to sell 34 radio stations, retains Kalil & Co to handle process - The E.W. Scripps Co. is creating a stronger, more streamlined and higher-performing company through comprehensive restructuring and cost reductions expected to yield more than $30M in annual cost savings. The company also plans to sell its 34 radio stations and has retained Kalil & Co. to handle the process. During third-quarter 2017, the company began its restructuring work with a $2.4M restructuring charge. The company will take a restructuring charge of $2M in the fourth quarter, estimates a $4M charge in the first quarter and expects to take smaller quarterly charges into 2019. The annual cost savings are driven by reductions in head count and operating expenses over the next 12-18 months. These include centralization of services and technology; sharing of resources; elimination of redundant positions and services; and other expense reductions. Another component of the company's performance-improvement plan is its high priority on configuring a more durable TV station portfolio during this period of changing local market regulations.

09:01 EDT Sterling Construction awarded $22M project by Harris County Toll Road Authority - Sterling Construction Company announced that its Texas Sterling Construction subsidiary was selected by the Harris County Toll Road Authority to construct an underpass at Lorraine Street in Houston, TX in order to facilitate the future extension of the Hardy Toll Road. The $21.6M project consists of over 200,000 cubic yards of excavation, 13,000 square yards of concrete pavement and construction of a drilled shaft retaining wall and box culvert drainage. The project also consists of a pump station and various electrical, signage and pavement marking requirements. Work on the Lorraine Street Underpass is scheduled to begin in late March 2018, and is expected to be completed by June of 2019.

09:01 EDT Rambus, Marvell sign patent license agreement - Rambus Inc. (RMBS) announced that Marvell Technology Group (MRVL) has signed a patent license agreement. Under the terms of the agreement, Rambus will license Marvell a wide range of innovations, including Rambus patented memory controller, SerDes and security technologies. Specific terms of the agreement are confidential. "This agreement provides a foundation for collaboration with Marvell, and we look forward to exploring mutual opportunities in the data center and mobile edge markets," said Luc Seraphin, senior vice president and general manager of the Memory and Interfaces Division at Rambus.

08:54 EDT Pengrowth Energy appoints Randy Steele COO - Pengrowth Energy announces a realignment of its executive team with the appointment of Randy Steele as COO. Steele, who originally joined Pengrowth in 1998, and who currently holds the position of Senior Vice President, Conventional Operations, will assume operational responsibility for all of the Corporation's operations. Steve De Maio, Senior Vice President Thermal Operations will be leaving the Corporation mid-March 2018 to pursue other endeavours.

08:53 EDT Whirlpool says LG, Samsung have been dumping for years

08:49 EDT Fusion Telecommunications acquires software, IP, customers of Fusion IQMax - Fusion announced that it has acquired the software, intellectual property and customers of privately held IQMax, a pioneer in developing secure messaging, enterprise data integration and advanced cloud communications solutions. Headquartered in Charlotte, N.C., IQMax has developed a cloud-based data integration engine that seamlessly integrates and transmits information across diverse applications and platforms. IQMax's mobile-centric, secure messaging platform has been designed to meet the rigorous requirements of enterprises across multiple industry verticals demanding high levels of security, compliance and interoperability. Notably, IQMax's integration engine has been deployed at major healthcare systems in the U.S. to support physician workflow by facilitating real-time communications, group messaging, and image and file sharing with full HIPAA compliance among healthcare professionals. Additionally, IQMax's mobile software solutions improve workforce coordination and collaboration, from secure messaging to event notification management and integrated cloud voice services. IQMax's powerful data integration platform advances the expansion of Fusion's cloud ecosystem, facilitating integration with a wide range of applications and business productivity software platforms. In combination with Fusion's award-winning cloud services platform, IQ Max's advanced data integration engine will accelerate Fusion's leadership in the large and rapidly expanding global voice and messaging Communications Platform as a Service market, which IDC expects to grow from $867 million in 2016 to $8.2 billion in 2021. As reported in Ponemon's "2017 Cost of Data Breach Study," organizations face a nearly 28% average probability that they will suffer a material data breach in the next 24 months. IQMax's secure messaging and data integration solutions meet the needs of those highly vulnerable organizations that must secure sensitive information transmitted through their internal and external communications. So great is the demand for secure messaging solutions such as IQMax, that the messaging security market is expected to grow from $2.64 billion in 2017 to $5.5 billion by 2022, with a CAGR of nearly 16%.

08:47 EDT Itron signs contract with WASAC to modernize water metering system - Itron, Inc. has signed a new contract with the Rwandan water company, WASAC, to continue to modernize its water metering system. WASAC will install 50,000 highly accurate Itron water meters over the next two years, following the completion of a three-year contract with Itron to implement 110,000 meters.

08:47 EDT MySize regains Nasdaq listing compliance - My Size has received two letters from The Nasdaq Stock Market indicating that it has regained compliance with the minimum bid price rule and the market value of listed securities rule, so the company's stock will continue to be listed and trade on The Nasdaq Stock Market.

08:39 EDT Whirlpool says FY18 guidance does not assume 'significant tailwind' from FX - Says FY18 tax rate of 25% is "safe assumption."

08:36 EDT Great Panther Silver increases Mineral Resource Estimate at Guanajuato Mine - Great Panther Silver announced an updated Mineral Resource Estimate for its Guanajuato Mine Complex in Guanajuato, Mexico, which includes the operating Guanajuato and San Ignacio Mines. Estimated Measured and Indicated Mineral Resources at the GMC increased 91% from the previous Mineral Resource on February 21, 2016, to 13,619,794 silver equivalent ounces due to increases in both resource categories at both San Ignacio and Guanajuato Mines. Estimated Measured Mineral Resources at the GMC increased 100% to 11,113,236 Ag eq oz, with San Ignacio Mine increasing by 121% to 9,283,955 Ag eq oz and Guanajuato Mine increasing by 33% to 1,829,281 Ag eq oz. Estimated Indicated Mineral Resources at the GMC increased 58% to 2,506,558 Ag eq oz, with San Ignacio mine increasing by 69% to 2,078,368 Ag eq oz and Guanajuato Mine increasing by 22% to 428,190 Ag eq oz. Estimated Inferred Mineral Resources at the GMC remain essentially unchanged with 6,997,306 Ag eq oz. At San Ignacio, plans for 2018 include 5,000 meters of surface exploration drilling and 5,000 meters of underground delineation drilling. At the Guanajuato Mine, an underground drill program of approximately 14,000 meters is planned for 2018, which will continue to focus on increasing Mineral Resources in these same areas.

08:32 EDT Newell Brands exploring portfolio reconfiguration to simplify operations - Newell Brands announced that it will explore a series of strategic initiatives to accelerate its transformation plan, improve operational performance and enhance shareholder value. Key components include: Focusing Newell's portfolio on nine core consumer divisions with approximately $11B in net sales and $2B of EBITDA; Exploring strategic options for industrial and commercial product assets, including Waddington, Process Solutions, Rubbermaid Commercial Products and Mapa; Exploring strategic options for the smaller consumer businesses, including Rawlings, Goody, Rubbermaid Outdoor, Closet, Refuse and Garage, and U.S. Playing Cards; Execution of these strategic options would result in a significant reduction in operational complexity through a 50% reduction in the company's global factory and warehouse footprint, a 50% reduction in its customer base and the consolidation of 80% of global sales on two ERP platforms by end of 2019. If fully actioned, Newell Brands would expect to be an approximately $11B focused portfolio of leading consumer-facing brands with attractive margins and growth potential in global categories. These brands would leverage the company's advantaged capabilities in brands, innovation, design and e-commerce. The company expects proceeds after tax to be greater than that required to achieve a leverage ratio below the lower end of its current leverage ratio target range. Newell Brands intends to begin the evaluation process immediately and expects any resulting transactions to be completed by the end of 2019.

08:30 EDT Duke Energy proposes two additional renewable energy programs for North Carolina - Duke Energy has filed two more renewable energy programs with the North Carolina Utilities Commission to expand renewable energy options for its 3.2 million customers in the state. The N.C. Shared Solar and Green Source Advantage programs are part of a larger portfolio of customer offerings the company is proposing as part of the Competitive Energy Solutions for North Carolina law. Both programs enable customers to pursue off-site solar energy and will be driven by customer demand. They follow a $62M solar rebate program announced earlier this week. Both programs must be approved by the NCUC before they can be offered to customers.

08:26 EDT Whirlpool sees 'some uncertainty' on raw material costs - Sees some inflation "creeping in" on value chain.

08:22 EDT Whirlpool says innovation pipeline 'very encouraging' - Says "very well-positioned" when it comes to innovation pipeline.

08:17 EDT Whirlpool sees Tax Act having positive impact going forward - Sees "significantly higher" free cash flow in 2018. Says margin expansion is primary goal for 2018.

08:14 EDT Whirlpool says bringing 'compelling new products' to lineup in 2018 - Expects $175M benefit from cost productivity; $100M from restructuring benefits in 2018. Comments from Q4 earnings conference call.

08:13 EDT Hilton's Collection Brands to expand lineup of independent hotels in 2018 - Hilton will kick off 2018 with more than 75 hotels in the combined Curio Collection by Hilton and Tapestry Collection by Hilton pipeline. Curio Collection comprises nearly 50 one-of-a-kind, upper upscale hotels around the world and will be opening more in exciting destinations such as Portland, Ore., Costa Rica and Iceland. Tapestry Collection, which launched last year, will more than double its existing portfolio of independent, upscale hotels and open in landmark cities such as Washington, D.C. In addition to the scheduled openings and conversions, franchise licensed agreements have recently been signed to add hotels to Curio Collection by Hilton and Tapestry Collection by Hilton.

08:11 EDT Cambridge Bancorp raises quarterly dividend 2c to 48c per share - On January 22, 2018, the company's Board of Directors declared a quarterly cash dividend of 48c per share, which is payable on February 22, 2018 to shareholders of record as of the close of business on February 8, 2018. This represents an increase of 2c per share, as compared to 46c per share declared during the first quarter of 2017.

08:09 EDT Cleveland-Cliffs sees FY18 SG&A expenses of $115M - Full-year 2018 SG&A expenses are expected to be approximately $115M. Cliffs also notes that of the $115M expectation, approximately $20M is considered non-cash. The increase compared to 2017 is partially attributable to an accounting change related to the reclassification of certain Pension/OPEB components. The company's full-year 2018 interest expense is expected to be approximately $130M, compared to $132M recorded in 2017. Consolidated full-year 2018 depreciation, depletion and amortization is expected to be approximately $100M, incurred ratably throughout the year. Cliffs' 2018 capital spending expectations are: Approximately $85M in sustaining capital, Approximately $250M toward the HBI project in Toledo, OH, Approximately $50M toward the upgrade of the Northshore mine to produce up to 3.5 million long tons of DR-grade pellets a year.

08:08 EDT Advaxis data shows 9 patients achieve complete response in ADXS11-001 trial - Advaxis announces that data from the investigator-initiated study evaluating the company's proprietary Lm-based antigen delivery product, axalimogene filolisbac, or ADXS11-001, in combination with chemoradiation as a treatment for high-risk, locally advanced anal cancer were published in the International Journal of Radiation Oncology in an article titled, "Tolerability of ADXS11-001 Lm-LLO Listeria Based Immunotherapy With Mitomycin, Fluorouracil and Radiation for Anal Cancer." The abstract is available on-line here. The Phase 1 study, led by Dr. Howard Safran at Brown University, evaluated the safety and preliminary efficacy of the combination of ADXS11-001 with mitomycin, FU and intensity modulated radiation therapy in 10 patients with locally advanced, non-metastatic squamous cell anal cancer. Results showed that 9 patients achieved a complete response, and 8 patients remained disease free at a median follow-up of 42 months. One patient progressed, approximately 6 months post completion of study treatment and subsequently died from progressive disease, and one patient expired early in the study unrelated to study treatment. Treatment-related adverse events were consistent with the observed safety profile of ADXS11-001, and consisted of mostly grade 1-2 cytokine-release related events such as chills, headache and fever. Two patients experienced grade 3 treatment-related toxicities. There were no grade 4 events and ADXS11-001 did not cause any additive chemoradiation related toxicities. All adverse events occurred within 24 hours of treatment and resolved with standard care. These data show that ADXS11-001 can be safely administered with standard chemoradiation for patients with locally advanced, non-metastatic anal cancer.

08:05 EDT Convergys backs 2017 guidance - In connection with today's announcement, Convergys has reaffirmed its guidance for the fourth quarter and full year fiscal 2017, as announced on November 7, 2017. Convergys plans to report its fourth quarter and full year 2017 results and provide its 2018 outlook in February. Details for the associated webcast and investor conference call will be announced at a later date.

08:05 EDT Convergys says Andrea Ayers to transition from role as president and CEO - Convergys Corporation announced that Andrea Ayers will transition from her role as President and CEO following a nearly 30-year career at the company. Ayers has been a member of the Convergys team since 1990. She was appointed CEO in October 2012. The Convergys Board has initiated a search process to identify Ayers' successor and expects to retain a leading executive search firm to assist with the process. Ayers will continue to lead the company in her current role President and CEO, as well as a member of the Board of Directors, as long as necessary for transition purposes.

08:03 EDT Hess Midstream Partners reports JV with Targa for gas processing plant - Hess Midstream Partners LP (HESM) announced the formation of a 50/50 joint venture with Targa Resources Corp. (TRGP) to construct a new 200 million standard cubic feet per day gas processing plant called Little Missouri Four. The new gas plant will be located at Targa's existing Little Missouri facility, south of the Missouri River in McKenzie County, North Dakota. Targa will manage the construction of LM4 and will operate the plant. Hess Midstream's 50% interest in the joint venture will be held through Hess TGP Operations LP, in which Hess Midstream owns a 20% controlling economic interest, and Hess Infrastructure Partners LP owns the remaining 80% economic interest. LM4 is expected to be completed in the fourth quarter of 2018. Construction costs for LM4 are anticipated to be approximately $150M, with $15M attributable to Hess Midstream. In addition, Hess Midstream and HIP will also invest approximately $100M gross, $20M attributable to Hess Midstream, for new pipeline infrastructure to gather volumes to the LM4 plant. With these investments, Hess Midstream will have total processing capacity of 350 million standard cubic feet per day of gas in the Bakken, with export optionality north and south of the Missouri river. Hess Midstream retains the option to further expand processing capacity by de-bottlenecking the Tioga Gas Plant in the future and, as a result, the previously planned turnaround at the Tioga Gas Plant in 2019 is expected to be deferred.

08:03 EDT Alaska Air raises dividend 7% to 32c per share - Alaska Air Group announced a 7% increase in the quarterly dividend to 32c per share from 30c per share. The dividend will be paid on March 8 to all shareholders of record as of February 20.

08:01 EDT Freeport McMoRan sees FY18 CapEx $2.1B - Capital expenditures for the year 2018 are expected to approximate $2.1 billion, including $1.2 billion for major mining projects primarily associated with underground development activities in the Grasberg minerals district and development of the Lone Star oxide project. Consolidated sales for the year 2018 are expected to approximate 3.9 billion pounds of copper, 2.4 million ounces of gold and 91 million pounds of molybdenum, including 1.0 billion pounds of copper, 675 thousand ounces of gold and 24 million pounds of molybdenum for first-quarter 2018.

08:00 EDT KBS Fashion CEO Xiaowen Zheng resigns, succeeded by Chairman Keyan Yhan - KBS Fashion CEO Xiaowen Zheng has tendered his resignations as CEO, President and director of the company due to personal reasons. As a result, the board reduced its size to seven. KBS Chairman Keyan Yan was appointed by the board as the company's CEO and President, effective immediately. Zheng's resignation was not a result of any disagreement or dispute with the company or its management regarding any matters relating to operations, policies or practices of the company.

07:46 EDT Jacobs Engineering selected by Anglo American for Los Bronces copper mine - Jacobs Engineering Group Inc. has been selected by Anglo American to provide engineering services to the company's Los Bronces copper mine, located approximately 40 miles northeast of Santiago, Chile, in the Metropolitan Region. Situated at an altitude of over 11,000 feet, Los Bronces is one of the world's largest copper mines with a processing capacity of 150 tonnes. Under the terms of the three-year Master Services Agreement, Jacobs will provide engineering services and field technical assistance to support the mine's sustaining capital program, as well as lead the evaluation and development of environmental permits. In addition, Jacobs will support the preparation of bidding rules for future scopes of work, including studies, engineering services and construction phases.

07:36 EDT NXP announces automatic extension of end date of transaction with Qualcomm - NXP Semiconductors (NXPI) announced that in accordance with the terms of the Purchase Agreement with Qualcomm (QCOM), the End Date of the transaction with Qualcomm has been automatically extended to April 25, 2018. NXP continues to support and recommend the Qualcomm offer for acceptance to NXP shareholders.

07:36 EDT Alliance Data sees 2017 positive impact of tax reform of $1.02 - Alliance Data sees a positive impact of tax reform, net of initiatives, of $1.02 in 2017 and $1.00 to $1.50 in 2018. The company said: "The recent tax reform legislation benefited the fourth quarter of 2017. Specifically, the new federal corporate tax rate of 21 percent necessitated the re-valuation of certain deferred tax assets and liabilities previously established at higher tax rates. Since the Company was in a net deferred tax liability position, the adjustment reduced the provision for income taxes by $65M. Net of the special bonuses discussed above, the benefit to 2017 was approximately $1.02 to both per share measures."

07:34 EDT Alliance Data to increase dividend 10% to 57c - Cash dividend increased 10% to 57c starting in first quarter of 2018.

07:33 EDT 3M reports Q4 organic local currency sales up 6% - Organic local-currency sales increased 6.0 percent while acquisitions, net of divestitures, increased sales by 0.3 percent. Foreign currency translation increased sales by 2.7 percent year-on-year. Fourth-quarter operating income was $1.8 billion and operating income margin was 22.8 percent. Total sales grew 15.0 percent in Safety and Graphics, 12.5 percent in Electronics and Energy, 7.3 percent in Consumer, 6.9 percent in Industrial, and 6.0 percent in Health Care. Organic local-currency sales increased 11.0 percent in Electronics and Energy, 10.7 percent in Safety and Graphics, 5.4 percent in Consumer, 3.9 percent in Industrial, and 3.1 percent in Health Care.

07:30 EDT Summit Therapeutics trading resumes

07:16 EDT FCA US to make average profit sharing payments of $5,500 to UAW members - As a result of the company's strong 2017 financial performance, FCA US LLC announced that it will make average profit sharing payments of $5,500 to eligible UAW-represented employees. Approximately 40,000 employees will receive the payment on Feb. 16, 2018. With this payment, FCA US hourly employees have received on average more than $23,000 in profit sharing since 2009. As negotiated in the 2015 FCA US LLC-UAW Collective Bargaining Agreement, the 2017 profit sharing payment is based on the adjusted EBIT margin performance of the North American region reported in the FCA N.V. financial results and on individual compensated hours.

07:10 EDT Canadian Solar appoints independent financial and legal advisors for proposal - Canadian Solar announced that the special committee of its board of directors, formed to consider the preliminary, non-binding proposal received from Chairman, President and CEO Xiaohua Qu to acquire all of the outstanding common shares of the company not already beneficially owned by Dr. Qu and his wife, Hanbing Zhang, in a "going private" transaction for cash consideration of $18.47 per common share, has retained Barclays Capital Canada as its independent financial advisor, Weil, Gotshal & Manges LLP as its U.S. legal counsel and Osler, Hoskin & Harcourt LLP as its Canadian legal counsel to assist it in this process. The Special Committee is composed of directors Robert McDermott, Lars-Eric Johansson, Harry Ruda and Andrew Wong. No decision has been made with respect to the company's response to the Proposal.

07:07 EDT First Data expands partnership with SBI Card in India - First Data announced an expanded partnership with SBI Card, a credit cards issuer in India with more than 5.6 million customers. Under the new, multi-year agreement, First Data will provide comprehensive card management solutions powered by its proprietary VisionPLUS software. To support the partnership, First Data will operate a new data center facility in India.

07:06 EDT Can-Fite receives $2.2M payment from Gebro as part of Piclidenoson deal - Can-Fite BioPharma announced it has received its first payment of approximately $2,200,000 from Gebro Holdings GmbH. Can-Fite recently announced entering into a distribution agreement with Gebro for the exclusive right to distribute Can-Fite's lead drug candidate, Piclidenoson, for the treatment of rheumatoid arthritis and psoriasis in 3 European countries including Spain, Switzerland and Austria, upon receipt of regulatory approvals. The recently signed Gebro distribution agreement adds to the distribution agreements for Piclidenoson that the company already has in place with Cipher Pharmaceuticals and Kwang Dong Pharmaceutical. Under the terms of the distribution agreement, Gebro is making a total upfront and milestone payment of approximately $2,200,000 to Can-Fite. In addition, the agreement provides that additional payments of up to approximately $7,000,000 will be received by Can-Fite upon the achievement of certain regulatory, launch and sales milestones plus double digit royalty payments on net sales.

06:58 EDT L3 Technologies cuts FY18 effective tax rate view to 20% from 26.6%

06:56 EDT L3 Technologies raises FY18 guidance

06:55 EDT Summit Therapeutics trading halted, news pending

06:49 EDT VAALCO Energy announces year-end 2017 proved reserves 3.0 MMBOE, up 15% - VAALCO Energy announced year-end 2017 proved reserves rose to 3M barrels of oil equivalent, up 15% from 2.6 MMBOE at year-end 2016. The Company's 2017 proved reserve additions of 1.9 MMBOE resulted in a reserve replacement ratio of 127%. VAALCO's reserves were fully engineered by its third-party independent reserve consultant, Netherland, Sewell & Associates, who has provided annual independent estimates of VAALCO's year-end reserves for over 15 years. VAALCO's proved reserves of 3.0 MMBOE at December 31, 2017, consisted of 100% oil. In 2017, the Company added 1.3 MMBOE of reserves through reservoir performance additions and 0.6 MMBOE through positive pricing revisions. Preliminary 2017 estimated production totaled 1.5 MMBOE. All of VAALCO's proved reserves are proved developed and are located offshore Gabon in the Etame Marin Permit area.

06:43 EDT CARBO Ceramics CEO says revenue and operating cash will show improvement in 1H18 - CEO Gary Kolstad commented on the outlook for CARBO stating, "A key goal in 2018 is continued progress on our transformation strategy to diversify revenue streams. It is our belief that execution on this transformation strategy will result in profitable growth and positive cash from operating activities. Although seasonality will impact the first half of 2018, we believe our revenue and operating cash will show improvement in the first half of 2018 compared to the first half of 2017."

06:38 EDT Northrop Grumman raises quarterly dividend 10% to $1.10 per share - The dividend is payable March 21 to shareholders of record as of the close of business March 5.

06:36 EDT Southwest says Q1 passender bookings and revenues are 'solid' thus far - Based on these trends and the current outlook, Southwest expects Q1 RASM to increase in the 1%-2% range, as compared with Q1 of 2017.

06:34 EDT Biogen CEO: 2017 a 'year of strong execution' - "2017 was a year of strong execution at Biogen," said Michel Vounatsos, Biogen's CEO. "With a renewed focus on our strategic priorities, we delivered record full year revenues, solid earnings, and significant progress in strengthening the foundation for our future with seven additions to our neuroscience pipeline in 2017. Our core MS business demonstrated resilience in an increasingly competitive market, and SPINRAZA has had one of the most successful rare disease launches of all time, bringing new hope to patients and their families. We are also proud of our achievements in business development, with 2017 being one of the most productive years in Biogen's history. And over the next 12 to 18 months, we expect several important data readouts across both our core and emerging growth areas as we continue to advance an industry-leading neuroscience portfolio."

06:29 EDT Northrop Grumman sees FY18 CapEx approximately $1B - Sees FY18: free cash flow $2B-$2.3B; effective tax rate about 19.5%; operating margin about 12%, segment operating margin low to mid 11% range.

06:06 EDT Praxair reports Q4 backlog of $1.5B, includes project wins in the U.S. and Asia

06:03 EDT Helmerich & Payne aises FY18 CapEx view to $350M from $250M-$300M

06:01 EDT Praxair raises quarterly dividend 5% to 82.5c per share - Payable on March 15 to common shareholders of record as of March 7.

05:55 EDT Applied DNA Sciences awarded 2-year $1M contract from TheraCann - Applied DNA Sciences announced the signing of an initial two-year, $1M contract with TheraCann International for the integration of the company's SigNature molecular tagging and testing technology into TheraCann's blockchain-based, seed-to-sale Enterprise Resource Platform, or ERP, for legal cannabis operations. Under the terms of the contract, the companies have entered into a development and marketing agreement whereby Applied DNA will develop the technologies necessary to tag and authenticate legal cannabis throughout the supply chain and seamlessly integrate tagging and authentication data into TheraCann's ERP and Blockchain platform. Applied DNA will receive an initial payment under its contract with TheraCann in the current quarter.

05:38 EDT Qualcomm signs MoU with Lenovo, others for purchase of RFFE components - Qualcomm Technologies, a subsidiary of Qualcomm (QCOM), announced that it has signed four memoranda of understanding, or MoU, wherein Lenovo Mobile Communication Technology (LNVGY), Guangdong OPPO Mobile Telecommunications, vivo Communication Technology, and Xiaomi Communications express interest in the purchase of Qualcomm Technologies' RF Front End, or RFFE, components with a value of no less than $2B, in the aggregate, over three years. Any obligation to purchase and supply these components is subject to the execution of subsequent definitive agreements.

05:27 EDT Apple opens first store in South Korea on Saturday - Apple Garosugil will open in Seoul on Saturday at 10 a.m., bringing Apple's products, in-store programming and services together for South Korean customers to experience for the first time all in one place. South of the Han River, in the heart of the Gangnam area, the store's 25-foot glass facade invites visitors in from the tree-lined street, where interior trees mirror those outside, blurring the lines between the street and store. The store's 140 team members will welcome visitors Saturday and provide the services and experiences that have become the hallmark for Apple Stores around the world.