Stockwinners Market Radar for February 05, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:53 EDT Burcon NutraScience transfers listing to NASDAQ Capital Market - Burcon NutraScience received notification from the Nasdaq Hearings Panel that it has granted approval of Burcon's request to transfer its listing to the NASDAQ Capital Market from the NASDAQ Global Market. Trading of the company's common shares on the Capital Market will be effective at the open of trading on February 7. The Panel subjected the continued listing of the company's common shares on the NASDAQ Capital Market to certain conditions, including closing its rights offering and having shareholders' equity of over $2.5M on or before February 16. In addition, the company will be required to provide the Panel with updates on how it plans to continue to maintain compliance with the continued listing requirements of the Capital Market. As a result of the transfer to the NASDAQ Capital Market, the Company expects to be granted an additional 180-day grace period to regain compliance with NASDAQ's minimum bid price requirement.

18:39 EDT Otter Tail Increases Quarterly Dividend 4.7% to 33.5c per share - Otter Tail increased its quarterly common stock dividend to 33.5c per share. The increase brings the annual indicated dividend rate to $1.34 per share, a 6c increase over the 2017 rate. The dividend is payable on March 10 to shareholders of record on February 15.

18:17 EDT Jernigan Capital acquires 100% of Jacksonville and Atlanta storage facilities - Jernigan Capital has acquired the membership interests of its developer partners in three self-storage facilities located in Fleming Island Florida, Alpharetta Georgia and Marietta Georgia, respectively. All acquisitions were privately negotiated with the development partner without any marketing of the project. Following these acquisitions, the company now has 100% ownership of four of its initial ten on-balance sheet development investments made during the first six months of the company's existence. The aggregate purchase price for the developer interests in the three properties was $8.1M, which was funded out of existing balance sheet cash. The company's development loans on the three properties were converted to equity. The company estimates its weighted average cap rate on the three properties is 8.04%.

18:07 EDT Nutrien says achieved over $40M in run-rate synergies year-to-date 2018

18:04 EDT Nutrien sees FY18 sustaining CapEx $1B-$1.1B

17:46 EDT Divisar capital reports 5.01% passive stake in Tilly's

17:42 EDT LGI Homes reports 277 home closings in January, up 61% y/y - LGI Homes announced 277 homes closed in January 2018, up from 172 home closings in January 2017, representing year-over-year growth of 61.0%. As of the end of January 2018, the Company had 76 active selling communities.

17:36 EDT Lockheed Martin awarded $119.71M government contract - Lockheed Martin is being awarded a not-to-exceed $119,707,000 for modification P00005 to a previously issued firm-fixed-price delivery order 0132 placed against a basic ordering agreement. This modification provides for the procurement of initial air vehicle deployment spares packages in support of Air Force F-35 air vehicle delivery schedules. Work will be performed in Fort Worth, Texas; El Segundo, California; Owego, New York; Samlesbury, United Kingdom; Cheltenham, United Kingdom; Nashua, New Hampshire; Torrance, California; Orlando, Florida; Cedar Rapids, Iowa; San Diego, California; Phoenix, Arizona; Melbourne, Florida; Irvine, California; N. Amityville, New York; Windsor Locks, Connecticut; Baltimore, Maryland; Papendrect, Netherlands; Rolling Meadows, Illinois; and Alpharetta, Georgia, and is expected to be completed in July 2022. Fiscal 2017 aircraft procurement funds in the amount of $119,707,000 will be obligated at time of award, none of which will expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

17:32 EDT Just Energy to acquire EdgePower - Just Energy Group announced that, through a subsidiary, it has entered into a Sale and Purchase Agreement to acquire all of the issued and outstanding shares of EdgePower, a privately held energy monitoring and management company operating out of Aspen, Colorado. EdgePower currently provides lighting and HVAC controls, as well as enterprise monitoring, in hundreds of commercial buildings in North America and has strong relationships with its customers. The aggregate consideration payable by Just Energy under the Purchase Agreement is (i) $14M at closing, subject to customary adjustments, to be paid as to approximately $7M in cash and $7M by the issuance of Just Energy common shares, $3M of which will be subject to a three year escrow hold period; and (ii) a one-time performance based payout after three years of up to a maximum of $6M, subject to annual and cumulative performance thresholds. Closing of the acquisition is expected to occur on or about February 28, 2018 and is subject to the satisfaction or waiver of a number of conditions customary in acquisition transactions of this nature, including the approval of the Toronto Stock Exchange and the New York Stock Exchange to list the Common Shares thereon. All amounts are in U.S. Dollars.

17:20 EDT Targa, Kinder Morgan and DCP Midstream's Gulf Coast Express Pipeline opens bids - Kinder Morgan (KMI), DCP Midstream (DCP) and Targa Resources (TRGP)'s joint venture, Gulf Coast Express Pipeline, announced the start of a binding open season for 220,000 dekatherms per day of firm natural gas transportation service on the Gulf Coast Express Pipeline Project, which will transport natural gas from the Waha, Texas, production area to the market hub near Agua Dulce, Texas, once built. Of the 220,000 Dth/d of available capacity, 60,000 Dth/d has been added to the project due to strong market demand. With the added capacity, the GCX Project will have a total design capacity of 1.98 billion cubic feet per day at an estimated cost of $1.75B. KMI, DCP Midstream and Targa jointly made a final investment decision to proceed with the GCX Project, with construction activities slated for Q1. The in-service date of October 2019 remains the same, pending the receipt of regulatory approvals. The open season bid period begins on Feb. 5 and ends on March 1.

17:18 EDT Benchmark Capital Partners VII reports 7.9% passive stake in Snap

17:15 EDT Asta Funding trading resumes

17:05 EDT 8point3 Energy trading halted, news pending

17:03 EDT Micron announces David Zinsner to succeed Ernie Maddock as CFO - Micron Technology announced the company has appointed David Zinsner as senior VP and CFO, effective February 19. Zinsner succeeds Ernie Maddock, who is retiring from Micron but will remain with the company as an adviser through early June to ensure a smooth transition. Zinsner will report directly to Sanjay Mehrotra, president and CEO.

17:01 EDT Williams-Sonoma names Yasir Anwaras as new CTO - Williams-Sonoma announced that Yasir Anwar has joined the company as Chief Technology Officer, reporting to Laura Alber, the company's President and Chief Executive Officer. In this role, Anwar will lead all technology aspects of the company's digital experience, retail stores, and supply chain, and will oversee the company's Outward, Inc. subsidiary.

16:46 EDT Asta Funding declares $5.30 per share special cash dividend - Asta Funding announced that its board passed a resolution declaring a special cash dividend of $5.30 per common share, payable on February 28, 2018, to stockholders of record as of February 16, 2018. The aggregate payment will be approximately $35 million.

16:40 EDT Asta Funding trading halted, news pending

16:36 EDT ICE reports record NYSE FANG+ Index Futures trading for 2 consecutive days - Intercontinental Exchange (ICE) announced a record trading week for the NYSE FANG Index futures contract. With average daily volume of 3,278 contracts last week and record daily volume on Friday, February 2, of 7,884 contracts, last week saw record volumes for the new contract over two consecutive days amid increased market volatility. NYSE FANG+ Index futures are based on the NYSE FANG+ Index, and designed to offer hedging, exposure and the capital efficiency of futures to a select group of highly-traded growth stocks of tech-enabled companies. The NYSE FANG+ Index is equally weighted and includes the five core FANG stocks - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOG) - plus another five actively-traded technology growth stocks - Alibaba (BABA), Baidu (BIDU), NVIDIA (NVDA), Tesla (TSLA) and Twitter (TWTR).

16:33 EDT Summit Hotel Properties increases common dividend 6% to 18c per share - Summit Hotel Properties has declared a cash dividend for Q4 of 18c per share of common stock of the company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company's operating partnership. The dividend represents an increase of 1c per share, or 5.9%, over the prior quarter's common dividend. The dividend is payable February 28 to holders of record as of February 16.

16:32 EDT Herman Miller CEO Brian Walker to retire - Herman Miller announced that Brian C. Walker plans to retire as President, Chief Executive Officer and a member of the Board of Directors by August 31, 2018. To ensure an orderly transition, Walker will remain in those roles until the appointment of his successor. The Board has established a CEO Search Committee composed of independent directors and will retain a leading executive search firm to help identify and evaluate internal and external candidates to lead Herman Miller. Walker will assist the Board in this process.

16:31 EDT T2 Biosystems names John Sprague CFO - T2 Biosystems announced that John Sprague has been named chief financial officer. Sprague was most recently the chief financial officer at Caliber Imaging & Diagnostics, Inc., a developer of digital pathology microscopy systems

16:27 EDT Cboe Global Markets reports January Options ADV up 38.6% y/y - Reports January Futures ADV up 49.8% y/y. Reports January U.S. Equities ADV down 0.7% y/y.

16:21 EDT Quotient reports continued progress for the commercial scale-up ofMosaiQ - Quotient reported continued positive progress for the commercial scale-up of MosaiQ and its financial results for its fiscal third quarter and nine months ended December 31, 2017.Paul Cowan, Quotient's CEO and Chairman commented "I am very pleased to announce the successful completion of the planned modifications to the MosaiQ manufacturing process announced in early January. These modifications were designed to further improve the performance and reliability of MosaiQ, which has been demonstrated with our latest performance evaluation data. In the next several days we expect to resume the V&V study for blood grouping, which is the final step prior to commencing our European field trials." Mr. Cowan added "the improved manufacturing processes are expected to benefit the performance of the expanded assay menu to be incorporated into the MosaiQ IH II Microarray, which is currently moving from development into manufacturing. MosaiQ will deliver the benefits of high throughput automation with the ease of use and cost efficiency of a single universal testing platform, providing our customers with the capability to fully characterize and screen each unit of donated blood in a single testing event."

16:17 EDT Fabrinet approves buyback of up to additional $30M - Fabrinet announced that its board of directors has approved the repurchase of up to an additional $30M of Fabrinet's ordinary shares, bringing the aggregate authorization under Fabrinet's existing share repurchase program to $60M. Fabrinet repurchased approximately 316,000 shares of its ordinary shares at an average price of $31.36 during the second quarter.

16:14 EDT Leggett & Platt sees FY18 CapEx approximately $160M - Cash from operations is expected to approximate $500M. The company's target for dividend payout is 50-60% of adjusted2 earnings; payout for 2018 is expected to be near the midpoint of the target range. The company's long-term priorities for use of cash are unchanged; they are organic growth, dividends, and strategic acquisitions. After funding those priorities, the company generally intends to repurchase its stock. Management has standing authorization from the Board of Directors to buy up to 10 million shares each year; however, no specific repurchase commitment or timetable has been established. The company expects to repurchase 2-3 million shares in 2018, and issue about 1 million shares, primarily for employee benefit plans.

16:13 EDT Leggett & Platt sees FY18 tax rate of 22%

16:11 EDT Black Knight announces agreement with M&T Bank - Black Knight (BKI) announced that it has signed an agreement with M&T Bank (MTB), one of the largest banks in the U.S., to implement Black Knight's Enterprise Business Intelligence solution to provide broader and deeper insight into the bank's mortgage portfolio and to help improve efficiency across M&T Bank's origination and servicing operations.

16:08 EDT CMS Energy raises quarterly dividend to 35.75c from 33.25c per share - The first quarter dividend for the common stock is payable Feb. 28 to shareholders of record on Feb. 16.

16:06 EDT lululemon CEO resigns after he 'fell short' of conduct standards

16:04 EDT GW Pharmaceuticals says EMA accepts Epidiolex MAA for review - GW Pharmaceuticals announced that the European Medicines Agencyhas accepted for review the Marketing Authorization Application for Epidiolex for adjunctive treatment of seizures associated with Lennox-Gastaut syndrome (LGS) and Dravet syndrome. This acceptance follows submission of the MAA in December 2017."The successful filing of the MAA for Epidiolex with the EMA builds on the momentum of acceptance by the U.S. Food and Drug Administration of the Epidiolex New Drug Application in December and recent publication of Phase 3 LGS results in The Lancet," said Justin Gover, GW's Chief Executive Officer. "We continue to build European commercial infrastructure in anticipation of future approval and launch with the goal of making this important new medicine available to appropriate patients and their caregivers, addressing the significant unmet need in LGS and Dravet syndrome, two rare and debilitating conditions of childhood-onset epilepsy." The outcome of the MAA review by the EMA is expected in Q1 2019. In preparation for the commercialization of Epidiolex in Europe, GW continues to hire staff in the areas of medical affairs, market access and marketing, all with strong epilepsy or specialist disease experience. Significant progress has been made in hiring country leadership and local medical staff in the five major European markets. This European commercial effort is being led by Chief Operating Officer Chris Tovey, who has significant experience commercializing and launching pharmaceutical products, including within the field of epilepsy. The outcome of the MAA review by the EMA is expected in Q1 2019. In preparation for the commercialization of Epidiolex in Europe, GW continues to hire staff in the areas of medical affairs, market access and marketing, all with strong epilepsy or specialist disease experience. Significant progress has been made in hiring country leadership and local medical staff in the five major European markets. This European commercial effort is being led by Chief Operating Officer Chris Tovey, who has significant experience commercializing and launching pharmaceutical products, including within the field of epilepsy.

16:03 EDT Cirrus Logic announces $200M stock repurchase - Cirrus Logic announced that its Board of Directors authorized the repurchase of up to an additional $200 million of the company's common stock, in addition to the $60.2 million remaining from the Board's previous share repurchase authorization in October 2015.

15:26 EDT Empire Resorts subsidiary reports receipt of NY casino operation certificate - Montreign Operating Company,an indirect, wholly-owned subsidiary of Empire Resorts, announced that it was today issued an operation certificate by the New York State Gaming Commission for its Resorts World Catskills casino resort. This announcement comes ahead of Resorts World Catskills' public opening on February 8, which the company said is "several weeks ahead of schedule."

14:22 EDT Alpha Capital Anstalt reports 17.93% stake in DropCar - In connection with a Securities Purchase Agreement dated March 30, 2017, Alpha Capital Anstalt was issued 1,234 Series H Preferred Stock in DropCar. Pursuant to a merger agreement effective as of January 30, 2018, Alpha was issued 1,348,123 shares of DropCar common stock and an aggregate 161,917 warrants with an exercise price of $9.84 per share. All of the foregoing securities issued to Alpha contain a 9.99% "blocker" provision designed to prevent Alpha from being a beneficial owner of more than 9.99% of DropCar common stock. The aggregate 1,400,375 shares owned by Alpha represents a stake of 17.93%, which does not include the shares underlying the Series H-3 Convertible Preferred Stock nor the four classes of Warrants that Alpha can beneficially control under the contractually stipulated 9.99% ownership restriction. The full conversion and/or exercise of Alpha's securities would exceed this restriction.

12:29 EDT Rent-A-Center announces cooperation pact with Engaged Capital - Rent-A-Center announced that it has entered into a cooperation agreement with Engaged Capital. Engaged Capital beneficially owns approximately 16.9% of Rent-A-Center's outstanding common stock. Under the terms of the cooperation agreement, Rent-A-Center will nominate for election at the 2018 Annual Meeting of Stockholders one new independent director to be proposed by Engaged Capital. That individual will replace the nomination of Rishi Garg, a current member of the Rent-A-Center Board, who has informed the company that he does not intend to stand for re-election at the 2018 Annual Meeting. Engaged Capital fully supports the board's diversity objectives and intends to propose a director nominee candidate for election at the 2018 Annual Meeting that is diverse from an ethnic and/or gender perspective. Pursuant to the cooperation agreement, Engaged Capital has agreed to certain standstill provisions. Engaged Capital has also agreed to vote all of its shares in favor of Rent-A-Center's previously announced proposal to declassify the Board which, if approved, will result in all directors standing for election on an annual basis.

12:20 EDT 21st Century Fox up 2% after CNBC says Comcast may weigh counterbid

12:13 EDT Lawrence Seidman reports5.1% stake in Coastway Bancorp - Lawrence Seidman, a 5.1% holder of Coastway Bancorp has had several conversations with Coastway Bancorp 's President and CEO and discussed ways to maximize shareholder value for all of Coastway Bancorp 's shareholders. This stake does allow for activism.

12:11 EDT Franklin Mutual reports 5.5% passive stake in Brinker - In a regulatory filing, Franklin Mutual disclosed a 5.5% stake in Brinker, representing 2,544,700 shares. The filing does not allow for activism.

11:53 EDT Jennison Associates reports 7.1% passive stake in Albemarle

11:17 EDT Street Fight: As Street gets more bullish on Dick's Sporting, Barclays say sell - Shares of Dick's Sporting Goods (DKS) are slipping after Barclays analyst Matthew McClintock downgraded the stock to Underweight, a sell-equivalent rating. His downgrade comes after five other Wall Street firms upgraded the stock to buy-equivalent ratings last month. SELL DICK'S: In a research note to investors this morning, Barclays' McClintock downgraded Dick's Sporting to Underweight from Equal Weight and lowered his price target on the shares to $25 from $33. The analyst acknowledged that sentiment on the stock has improved over the past month under the narrative that Dick's could become the next Best Buy (BBY). However, McClintock argued that he sees few, if any, similarities between the two companies. Further, he questions how the Dick's business model of a physical sporting goods box with a "sparse labor model and no treasure hunt aspects" will remain relevant as changing consumer preference increasingly requires intensive and specialized service/experiential levels to compete. Moreover, the analyst highlighted that Dick's is facing accelerating competitive pressures in apparel and has substantial exposure to weak hunting trends. While JCPenney (JCP), Kohl's (KSS) and Nordstrom (JWN) all have called out recent strength in athletic apparel, Dick's remains muted, he added. FIVE UPGRADES IN A MONTH: On January 25, Telsey Advisory analyst Joseph Feldman upgraded Dick's Sporting Goods to Outperform from Neutral as he adjusted his earnings per shares estimates for the benefit from tax reform. While the analyst acknowledged that the company is currently in a period of earnings pressure due to price competition on athletic apparel and footwear, driven by increased distribution to new channels such as department stores and online and too much inventory, he expects industry trends to stabilize in the second quarter of 2018, leading to better results for Dick's Sporting in the second half of the year. This was the latest of several upgrades by Wall Street firms in January. Before Feldman's rating change, Susquehanna, Buckingham, Deutsche Bank and Wells Fargo had upgraded the stock to buy-equivalent ratings on better sector trends and tax reform. WHAT'S NOTABLE: In a regulatory filing, Dick's Sporting said that Keri Jones, EVP Chief Merchant, had informed the company that she will be resigning from her position effective February 9, 2018, in order to accept a CEO position at another company. The company said that, at this time, it will not be replacing Jones as Chief Merchant. Core merchandising functions will report directly to the company's Chairman & CEO, Edward Stack. PRICE ACTION: In morning trading, shares of Dick's Sporting have dropped over 1.5% to $30.95. Over the last month the stock is roughly flat.

11:14 EDT Capricor Therapeutics receives RMAT designation from FDA for CAP-1002 - Capricor Therapeutics announced that the U.S. Food and Drug Administration has granted CAP-1002, its lead investigational cell therapy for the treatment of Duchenne muscular dystrophy, the Regenerative Medicine Advanced Therapy designation. In notifying Capricor, the FDA Office of Tissues and Advanced Therapies, stated that the FDA will "work closely" with Capricor "to provide guidance on the subsequent development of CAP-1002" for the treatment of Duchenne muscular dystrophy, "including providing advice on generating the evidence needed to support approval of the drug in an efficient manner." To receive the RMAT designation, Capricor submitted data from an earlier trial, the HOPE-Duchenne Trial, which reported significant and sustained improvements in skeletal muscle function and cardiac structure in boys and young men in advanced stages of Duchenne muscular dystrophy following a single dose of intracoronary CAP-1002. Capricor is launching a potential registration trial, the HOPE-2 Trial, to test the potential benefit of CAP-1002 as a multi-dose therapy delivered intravenously. HOPE-2 is a randomized, double-blind, placebo-controlled clinical trial that is planning to enroll approximately 84 participants in advanced stages of DMD. Capricor already secured an Orphan Drug Designation for CAP-1002 which gives the company seven-year market exclusivity upon approval. In addition, Capricor has obtained a Rare Pediatric Disease Designation for CAP-1002, which means that if CAP-1002 is approved first for use in Duchenne muscular dystrophy, the company can secure a priority review voucher to fast-track a potential future therapy.

10:46 EDT Amag gets greenlight to broaden existing Feraheme label - AMAG Pharmaceuticals announced that the FDA has approved its application to broaden the existing label for Feraheme beyond the current chronic kidney disease indication, to include all eligible adult Iron Deficiency Anemia patients who have intolerance to oral iron or have had unsatisfactory response to oral iron. This sNDA approval immediately doubles the number of patients who could benefit from Feraheme to include both CKD and non-CKD patients."Iron deficiency anemia is a serious and under-treated health condition which negatively impacts quality of life for millions of people, many of whom do not benefit from or cannot tolerate oral iron therapy," said Michael Auerbach, M.D., Clinical Professor at Georgetown University School of Medicine.

10:38 EDT Nvidia, Continental announce partnership for AI self-driving vehicle systems - Continental AG (CTTAY) and NVIDIA (NVDA) announced a partnership to create Artificial Intelligence, or AI, self-driving vehicle systems, with a planned market introduction in 2021 for Level 3 features. Dedicated engineering teams from each company will work together to develop self-driving solutions based on the NVIDIA DRIVE platform. The solutions will utilize Continental's experience in system and software engineering for ASIL D rated safety - the highest rating level - and integrate a range of Continental sensors technologies including radar, camera and high-resolution 3D LiDAR. Continental and NVIDIA will initially develop highly automated driving features, including 360-degree perception and automatic lane changing on highways, plus the ability to merge in traffic. In addition, the system will integrate HD maps enabling the vehicle to localize themselves and provide mapping updates. The partnership enables the development of AI computer systems scaling from automated Level 2 features to full Level 5 self-driving capabilities, where the vehicle has no steering wheel or pedals, the companies stated.

10:27 EDT Wells Fargo slides as 'unprecedented' Fed sanctions have analysts saying sell - Shares of Wells Fargo (WFC) are sliding after the Federal Reserve announced on Friday night that it is restricting the bank's size in response to "widespread consumer abuses." The Fed is prohibiting the bank from growing any larger than its total assets as of the end of 2017 until "sufficient improvements" are made. In the wake of the sanctions, several Wall Street firms lowered their ratings on the shares, with Morgan Stanley, JPMorgan and RBC Capital cutting the stock to a sell-equivalent rating. SELL WELLS FARGO: In a research note to investors this morning, Morgan Stanley analyst Betsy Graseck downgraded Wells Fargo two notches, to Underweight from Overweight, and lowered her price target on the stock to $64 from $75 following the "unprecedented" Fed consent order that will force Wells Fargo to shrink some businesses in order to keep their assets flat, constraining the bank from going on the offensive. The analyst pointed out that while Wells Fargo does have some balance sheet flexibility, the bank will also have to manage its balance sheet duration and liquidity tied to the Liquidity Coverage Ratio and Living Wills process, and it is unlikely that it can take full advantage of stronger economic growth and its significant excess capital position. Meanwhile, her peer at JPMorgan also downgraded the stock to Underweight from Neutral, with a $67 price target. Analyst Vivek Juneja told investors that the "harsh" Fed consent order is rare and a strong sign of regulators' frustration about the very wide swath of areas where Wells Fargo has had issues. The consent order could imply a harsher look at the recent foreign exchange trading issues and the bank's aggressiveness in growing its investment banking and trading businesses could be tempered, Juneja contended. RBC Capital analyst Gerard Cassidy also lowered Wells Fargo's rating to Underperform from Outperform, while cutting his price target on the shares to $50 from $65. Citing similar reasons, Cassidy noted that he was surprised by the Fed's Cease and Desist Order given the investment made by the bank to remedy its sales practices issues. MOVING TO THE SIDELINES: Also following the sanctions, Citi analyst Keith Horowitz downgraded Wells Fargo to Neutral from Buy and lowered his price target on the shares to $65 from $70. The analyst also removed the stock from his firm's Focus List, saying that while the consent order from the Federal Reserve is not a surprise, the asset cap and board changes are. Horowitz pointed out that the bank is facing incremental distractions, including complying with the regulatory consent order and significant Board turnover, all of which will likely make organic growth challenging. His peer at Keefe Bruyette also cut Wells Fargo's rating to Market Perform from Outperform and lowered his price target on the shares to $63 from $70. Analyst Brian Kleinhanzl argued that he believes the bank will have to be defensive until the Cease and Desist is lifted. PRICE ACTION: In morning trading, shares of Wells Fargo dropped to as low as $58.05. The stock, while off its worst levels, is down about 7% at $59.47 about an hour into the session.

10:14 EDT Sysco continues to see challenges from inbound freight costs - Says Q2 results represented continued momentum in business. Says achieved results in a favorable macroeconomic environment. Says continues to face challenges from escalating inbound freight costs. Says working to mitigate these risks. Says e-commerce utilization continues to grow. Says adding marketing associates in an effort to accelerate local sales. Saw mixed results in international foodservice operations. Says continues to invest in supply chain transformation int the UK. Says France and Ireland are performing well. Continues to be excited about growth opportunities in Latin America. Says remains confident in the performance of Mexico. Says feels good about the trajectory the company is on FY18. Says will be launching a redesigned website this week. Comments taken from Q2 earnings conference call.

10:05 EDT State Street broadens U.S. family support policies - State Street Corporation announced that it has broadened its U.S. family support policies, effective January 1, 2018, in an effort to offer even more inclusive benefits to its employees. The company will now offer four weeks of fully-paid leave for employees who are primary caregivers to a child born via surrogacy. This benefit is in addition to State Street's existing parental leave policy of eight weeks fully-paid time off for all parents. While these types of paid leave benefits were previously available after a year of service, employees are now eligible as of their date of hire. State Street has also instituted new and enhanced financial support for employees starting or growing families with the help of adoption services or a surrogacy arrangement. For the first time, the firm is offering $20,000 in reimbursement for expenses related to certain fertility expenses, such as surrogacy, beyond what is offered through the firm's medical plans. This is in addition to increasing its maximum reimbursement on adoption assistance from $5,000 to $20,000 per child. These benefits can be used once per calendar year and, over the course of employment, employees are allowed up to $40,000 in financial support for these benefits combined.

10:02 EDT Sysco says 'on track' to achieve three-year financial objectives - Says continues to make progress on customer and operational strategies to improve customer experience. Remains confident in ability to deliver FY18 financial objectives. Says on track to achieve initial three-year financial objectives. Anticipates improved leverage in 2H18. Expects stronger 2H18. Says evaluating options for cash benefit related to tax reform, currently estimates $200M-$300M. Expects FY18 tax reform impact on EPS to be 9c-13c. Comments taken from slides to be presented during Q2 earnings in conference call.

09:41 EDT Kroger to sell convenience store business unit to EG Group for $2.15B

09:32 EDT Enstar Group to acquire full ownership of KaylaRe - Enstar Group announced that it has signed an agreement to acquire a further 52% stake in KaylaRe Holdings, the parent company of KaylaRe, a Bermuda-based, Class 4 reinsurer. Added to its existing 48% equity holding, the acquisition will give Enstar full ownership of KaylaRe. Enstar founded KaylaRe in 2016 alongside funds managed by Hillhouse Capital Management and the Trident V funds managed by Stone Point Capital LLC. In the transaction, valued at approximately $400 million, Hillhouse and Stone Point will exchange their respective 44% and 8% shareholdings in KaylaRe for Enstar shares. Hillhouse will increase its overall economic interest in Enstar from 9.9% to 17.1% and its voting interest from 3.3% to 9.7%. Stone Point will increase its economic interest from 6.9% to 7.6% and its voting interest from 8.2% to 9.1%. The transaction is subject to regulatory approval and is expected to close during the first quarter of 2018.

09:30 EDT Norwegian Cruise: CFO Wendy Beck to leave company to pursue other opportunities - In a regulatory filing, Norwegian Cruise Line Holdings said that on January 30, the company and Wendy A. Beck, its EVP and CFO, announced that Beck would be leaving the company to pursue other career opportunities. Beck joined the company in 2010 and was instrumental in launching the company's initial public offering in 2013 and completing the company's acquisition and integration of Prestige Cruises International, Inc. and the Oceania Cruises and Regent Seven Seas Cruises brands in 2014. In connection with her departure, Beck has agreed to continue in her current position as EVP and CFO through September 30, 2018 or any earlier date as may be determined by the company.

09:19 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Bristol-Myers (BMY), up 3.6%... Navios Maritime (NMM), up 3.9% ALSO HIGHER: Xunlei (XNET), up 6.3% after raising its fouth quarter revenue guidance. DOWN AFTER EARNINGS: SYSCO (SYY), down just under 1%... Hess (HES), down 4.8%... ON Semiconductor (ON), down 7.1%... Booz Allen Hamilton (BAH), down 3%... Arconic (ARNC), down 5.5%. ALSO LOWER: Eyegate Pharmaceuticals (EYEG), down 42.5% after announcing that its EGP-437 Phase 2b study did not meet co-primary endpoints.

09:14 EDT Aspen Technology acquires Apex Optimisation; financial terms not disclosed - Aspen Technology has acquired Apex Optimisation, a European company specializing in Dynamic Optimization and Advanced Process Control. Co-Founders Henrik Terndrup and Klas Dahlgren and their team will join AspenTech as part of the acquisition. The Australian services operations of Apex Optimisation will remain an independent entity, trading under the name Greenfern Dynamics Pty.

09:09 EDT Nvidia and Continental partner for AI self-driving car development - NVIDIA and Continental are partnering to create top-to-bottom AI self-driving vehicle systems built on the NVIDIA DRIVE platform, with a planned market introduction starting in 2021. The partnership will enable the production of AI computer systems that scale from automated Level 2 features through full Level 5 self-driving capabilities, where the vehicle has no steering wheel or pedals.

09:04 EDT CytRx reports initial dosing in carcinoma trial by aldoxorubicin licensee - CytRx highlighted that aldoxorubicin licensee NantCell, a private subsidiary of NantWorks, has dosed the first patient in the Phase 1b portion of a Phase 1b/2 clinical trial for patients with advanced squamous cell carcinoma of either the head and neck or non-small cell lung cancer. This is the second trial conducted by NantCell which will investigate high-affinity natural killer cell therapy in combination with anti-cancer agents, including aldoxorubicin, in certain high unmet need cancer indications. The first trial in pancreatic cancer patients commenced in January. The Phase 1b/2 clinical trial is designed to evaluate the safety and efficacy of several combination therapies, including combinations with aldoxorubicin, in subjects with SCC who have progressed on or after platinum-based chemotherapy and anti-PD1/PD-L1 therapy. This trial is expected to enroll approximately 65 patients. The primary endpoint for the Phase 1b portion of the trial is safety and the primary endpoint for the Phase 2 portion of the trial is objective response rate.

09:03 EDT GameStop's Raines to resign as director to focus on health and family - In a regulatory filing, GameStop said that on January 31, 2018, J. Paul Raines notified the company that, in order to focus on his health and family, he has decided to resign as a director, effective immediately. The filing also noted a "medical event" experienced by Raines and that his principal executive officer responsibilities will be transferred to Daniel A. DeMatteo. Raines' resignation was not the result of any disagreement with the company or the Board of Directors on any matter relating to the company's operations, policies or practices. Raines' employment with the company will end in mid-March 2018. In November, GameStop said Raines had a reoccurrence of his previously disclosed medical issue and was seeking treatment. At the time, DeMatteo was named interim CEO.

09:01 EDT 2U names Katie Race Brin as Chief Privacy Officer - 2U announced it has hired Katie Race Brin as its new chief privacy officer. Brin most recently served as CPO for the Federal Trade Commission.

08:48 EDT Vermillion granted two ovarian cancer dignostic patents in U.S. - Vermillion has been granted two new US patents that expand coverage for its core technologies, OVA1 and Overa. The first patent describes and claims panels of biomarkers associated with ovarian cancer. The second patent describes and claims sets of reagents used to measure biomarkers associated with ovarian cancer.

08:36 EDT Chubb names Michael Smith as Chief Claims Officer - Chubb has appointed Michael W. Smith as Chief Claims Officer. Smith will lead the company's claims organization globally and be responsible for all aspects of executive claims management, service and administration for Chubb through its worldwide network of claims offices. From 2000 to 2017, he served in executive leadership roles at American International Group, most recently as Chief Transformation Officer. Frank Lattal, the company's Chief Claims Officer since 2003, will continue to serve as Senior Vice President, Chubb Group and will be responsible for managing the company's largest and most complex claims globally.

08:34 EDT Assured Guaranty reinsures substantially all of Syncora's insured portfolio - Assured Guaranty announced an agreement with Syncora Guarantee, a wholly owned subsidiary of Syncora Holdings, under which Assured Guaranty will reinsure, generally on a 100% quota share basis, SGI-insured financial guaranty insurance policies. The transaction also includes the commutation of a book of business previously ceded to SGI by Assured Guaranty Municipal. The transactions reinsured and commuted will total approximately $14.5B in net par amount. As consideration for the transaction, at closing, SGI will pay $360M and assign installment premiums estimated to total $55M on a present value basis to Assured Guaranty. Included in those amounts are approximately $100M of statutory loss reserves for RMBS transactions. Additionally, on behalf of SGI, AGC will provide certain administrative services on the reinsured portfolio, including surveillance, risk management, and claims processing. The transaction is subject to regulatory approval and other closing conditions and is expected to close by the end of 2Q18. The reinsured portfolio consists predominantly of public finance and infrastructure obligations that meet AGC's new business underwriting criteria. The consideration for the transaction includes proceeds that Assured Guaranty will use to establish loss reserves for certain RMBS transactions. Furthermore, the transaction does not include any Puerto Rico exposure.

08:33 EDT SG Blocks names Mahesh Shetty as president, succeeding Stevan Armstrong - SG Blocks named Mahesh Shetty as the company's new President. Shetty assumes the role from company Co-Founder Stevan Armstrong, who was appointed SG Blocks' Chief Technology Officer. Shetty, who will remain as SG Blocks' CFO, has been with SG Blocks since March 2016 and is also on the Board of Directors. In his new role, he will also manage and implement company strategy, supervise other executive team members and oversee finances. Armstrong, who helped launch the company in 2007, will manage all of SG Blocks' technological aspects and research & development.

08:32 EDT WPX Energy sells San Juan Gallup holdings for $700M - WPX Energy has signed an agreement to sell its holdings in the San Juan Basin's Gallup oil play for $700M to an undisclosed third party. Closing is expected to occur in Q1.The divestiture accelerates WPX's stated deleveraging efforts, with a significant portion of the proceeds slated for debt reduction. WPX now believes it can reduce its net debt/EBITDAX to a target level of 1.5x during 2019. The transaction completes WPX's exit from the San Juan Basin, signaling the company's confidence in its two remaining core positions in the Delaware and Williston basins. Capital that was earmarked for the Gallup oil play this year will be reallocated to these operations. In addition to the $700M sale of its Gallup oil holdings, WPX previously divested its legacy natural gas assets in the San Juan Basin for $175M and a gathering system in the basin for $309M in total consideration. The purchaser of the Gallup assets also is assuming the associated transportation commitments. Upon closing, WPX will not have any future commercial obligations in the San Juan Basin. Gallup production from last year will be reflected in continuing operations for Q4 and full-year 2017 results. San Juan Basin volumes are expected to be reclassified as discontinued operations in 2018. With the Gallup sale, WPX is revising its 2018 volume guidance. WPX is now forecasting 75-80 Mbbl/d of oil and 117-126 Mboe/d of production in 2018 following the Gallup sale. Further guidance can be found in a presentation at www.wpxenergy.com. WPX's original 2018 capital budget of $1.1B-$1.2b is unchanged.

08:32 EDT Sino-Global receives purchase order from Chengdu Dingxu International - Sino-Global Shipping announces the signing of a Purchase Agent Agreement with Chengdu Dingxu International Trade Ltd., a leading importer in the Sichuan province in China. In November 2017, Sino-Global entered into an initial Strategic Collaboration Agreement with Sichuan Metals and Minerals IMP. & EXP. CORP, to conduct trial runs of the purchases and transport of approximately 2,400 metric tons or 120 containers of sulfur. The trial runs were successful and the original agreement marked the beginning of SCMMC's switch to containerization from the traditional bulk shipment of its products. Pursuant to the Purchase Order with Chengdu Dingxu, SCMMC will act as the sales agent with Sino-Global serving as the exclusive purchasing agent and logistics service provider of sulfur products in the United States for Chengdu Dingxu. The Company will be responsible for sourcing and the door to door transport of up to 100,000 metric tons, or approximately 5,000 containers of sulfur. Sino-Global expects to generate approximately $10M in gross revenue (based on current market price) from the transaction and shipments are expected to begin in March 2018. The Purchase Order is set to expire, unless renewed, in December 2018.

08:30 EDT 21Vianet appoints Shiqi Wang as Co-CEO - 21Vianet announced that Shiqi Wang has been appointed Co-CEO and President of the company, effective immediately. Wang will be responsible for managing the company's daily operations, strengthening the company's cooperation with its shareholders, including TUS Holdings, Kingsoft, Xiaomi, and Temasek, among others, and forging strategic partnerships with various external parties to provide additional support and resources for the company.

08:19 EDT Cancer Genetics CEO Panna Sharma steps down, COO John Roberts named interim CEO - Cancer Genetics announced that Panna Sharma will be stepping down as President, CEO and a director of the company. The company's board has appointed John Roberts, currently the COO, as interim CEOr. Sharma will provide consulting services to the company to assist in the transition.

08:18 EDT Cancer Genetics CEO Panna Sharma steps down, COO Jay Roberts named interim CEO

08:16 EDT Varian Medical acquires Mobius Medical Systems, terms undisclosed - Varian announced it has acquired privately-held Mobius Medical Systems, a leader in radiation oncology Quality Assurance software. This acquisition expands Varian's leadership in radiation medicine, by increasing its portfolio of patient treatment plan QA and machine QA technologies, and enables the company to potentially impact more patients around the globe with software solutions designed to assure the quality of treatments. The acquisition of Mobius is consistent with Varian's long-term growth and value creation strategy and broadens its cancer care portfolio. The integration of additional QA tools into the Varian ecosystem will allow advanced QA processes to be more seamlessly combined into treatment workflows. Additionally, Varian also can ensure that QA methods advance at the same time as Varian introduces new treatment techniques. Terms of the transaction were not disclosed.

08:11 EDT SSLJ.com commences trading on NASDAQ - SSLJ.com, a vertically integrated O2O home decoration service and product provider in China, announced that its Class A ordinary shares will commence trading on The Nasdaq Capital Market under the ticker symbol "SSLJ." On January 31, the company closed its IPO of 3,819,892 Class A ordinary shares at a price to the public of $5.00 per share for a total of $19,099,460 in gross proceeds before expenses and underwriting commissions. On February 2, the company completed the second closing of its IPO of 180,108 Class A ordinary shares at the same price. The total proceeds of its offering were $20M. A total of 4,000,000 Class A ordinary shares were sold, and the IPO was completed at the maximum offering amount.

08:08 EDT Arconic authorizes $500M share repurchase program - Arconic's Board of Directors has authorized a share repurchase program of up to $500M of its outstanding common stock and a $500M early debt reduction. Under the share repurchase program, the company may repurchase shares from time to time, in amounts, at prices, and at such times as the company deems appropriate. Repurchases will be subject to market conditions, legal requirements and other considerations. The company is not obligated to repurchase any specific number of shares or to do so at any particular time, and the share repurchase program may be suspended, modified or terminated at any time without prior notice. The company currently has approximately 483M shares of common stock outstanding. In addition, Arconic intends to redeem in March 2018 all of its outstanding 5.72% Notes due in 2019 in accordance with the terms of the notes and the Indenture, dated as of September 30, 1993, between Arconic and The Bank of New York Mellon Trust Company, as trustee. As of February 5, 2018, the aggregate outstanding principal amount of the Notes is $500M.

08:06 EDT Biocept receives additional patent issuances for Target Selector platform - Biocept announces the issuance of patents in Europe, Japan and Hong Kong for its core Target Selector liquid biopsy technology. In Japan, Biocept's patent no. 6234817 is entitled METHODS AND REAGENTS FOR SIGNAL AMPLIFICATION, and in Europe, Biocept's patent no. 2995953 is entitled DEVICES AND METHODS OF CELL CAPTURE AND ANALYSIS. In Hong Kong, Biocept's patent no. HK1191043 is entitled CELL SEPARATION USING MICROCHANNEL HAVING PATTERNED POSTS. All of these patents are directed to the capture and analysis of rare cells of interest, such as cancer cells, that are shed into the blood from solid tumors. Biocept now has 25 issued patents globally for its liquid biopsy technology platforms.

08:05 EDT Heidrick & Struggles names Michael Cullen as COO - Michael Cullen is named COO with responsibility across the enterprise for IT, Marketing, Practice operations and the Knowledge Management Center, as well as for the leadership of Executive Search across the firm's three global regions: Europe and Africa, Asia Pacific and the Middle East, and the Americas. Previously, he had been Global Practice Managing Partner for the firm's Global Technology & Services Practice where he will continue to be a strategic talent adviser for a select group of companies.

08:05 EDT Verizon reports on 5G test conducted during Super Bowl - Verizon reports that the company tested an in-stadium pre-commercial 5G network connection during the Super Bowl, noting that network engineers at Alley, Powered by Verizon in New York City and Verizon guests at the Super Bowl at US Bank Stadium in Minneapolis participated in a live demonstration of 180-degree stereoscopic in-stadium view live action on the field, as well as a virtual in-stadium experience including high-resolution replays on secondary screens. Sanyogita Shamsunder, Executive Director, 5G Ecosystems and Innovation. "This latest demonstration at Super Bowl LII and in New York City is another example of how we're pushing 5G to exploit never-before imagined uses cases and applications."

08:04 EDT Heidrick & Struggles announces Mark Harris to succeed Richard Pehlke as CFO - Mark Harris joins the firm and will succeed Richard Pehlke as CFO when Pehlke retires March 31. Harris had been CFO at Hercules Capital, a publicly traded business development company, with responsibility for the finance, accounting, operations, treasury, legal and investor relations.

08:02 EDT Second Sight says implanted 30 Argus II RPS worldwide during Q4 - Second Sight Medical Products provided an update on several key performance metrics, demonstrating the company's continued progress in executing its near- and long-term goals. Business Highlights as of January 31, 2018: Implanted 30 Argus II Retinal Prosthesis Systems worldwide during the fourth quarter of 2017 for a total of 75 implants in 2017. This compares to seven implants in the fourth quarter of 2016 and a total of 42 implants in 2016, representing implant volume growth of 329% and 79%, respectively; Enrollment of the first patient(s) is expected during Q1 2018 in a clinical study of better-sighted patients with Retinitis Pigmentosa in Germany. Two sites are actively screening subjects with a third site to begin screening shortly; Reimbursement for the Argus II in Germany was renewed for the 2018 calendar year, marking the eighth year that Argus II implants have been reimbursed through the NUB program.

08:01 EDT Qualcomm confirms revised proposal from Broadcom - Qualcomm (QCOM) confirmed that it has received a revised, non-binding, unsolicited proposal from Broadcom (AVGO) to acquire all outstanding shares of Qualcomm for $60.00 per share in cash and $22.00 per share in Broadcom stock. Consistent with its fiduciary duties, the Qualcomm Board of Directors, in consultation with its financial and legal advisors, will review the revised proposal to determine the course of action it believes is in the best interests of the Company and its stockholders. Qualcomm will have no further comment on the proposal until its Board of Directors has completed its review. On November 13, 2017, Qualcomm's Board of Directors unanimously rejected Broadcom's non-binding, unsolicited proposal to acquire Qualcomm for per share consideration of $60.00 in cash and $10.00 in Broadcom stock. After a comprehensive review, conducted in consultation with its financial and legal advisors, the Board concluded that Broadcom's proposal dramatically undervalues Qualcomm and comes with significant regulatory uncertainty, and therefore is not in the best interests of Qualcomm stockholders.

07:57 EDT Catalent names Wetteny Joseph as SVP and CFO, succeeding Matt Walsh - Catalent (CTLT) announced the appointment of senior executive Wetteny Joseph as its SVP and CFO, effective February 6, 2018, succeeding Matt Walsh, who has announced his desire to leave the company to assume the position of CFO of Allergan plc (AGN).

07:53 EDT Allergan names Matthew Walsh as CFO - Allergan (AGN) announced that Matthew Walsh has been appointed Executive Vice President and CFO. He will formally join Allergan later this month following a transition period from his current role as Executive Vice President, CFO at Catalent (CTLT).

07:40 EDT Avery Dennison selects Newgen to launch global business applications - Avery Dennison selected Newgen Software to allow worldwide users to manage unstructured data while ensuring document governance. Avery Dennison will use Newgen solutions as a standard global platform for the launch of several types of business applications in multiple geographies.

07:35 EDT GeoPark announces 2P oil and gas reserves of 159 mmboe for 2017 - GeoPark Limited announced its independent oil and gas reserves assessment, certified by DeGolyer and MacNaughton, under PRMS methodology, as of December 31. After producing 10.2 million barrels of oil equivalent in 2017, D&M certified reserves are: Net proven developed producing reserves increased 47% to 28.5 mmboe, Net proven reserves increased 24% to 97.0 mmboe, Net proven and probable reserves increased 11% to 159.2 mmboe, Invested $106M and increased 1P NPV10 by $430M, Finding & Development costs for 2017 remained low at just $3.6 per boe for 1P reserves and $4.0 per boe for 2P reserves, 2P reserve replacement index of 261%, New year-end Argentina asset acquisition, with closing targeted for 1Q2018, may add another 12-14 mmboe 2P reserves. After producing 8.0 million barrels of oil equivalent in Colombia in 2017, D&M certified reserves are: Net PDP reserves increased 89% to 21.6 mmboe, Net 1P reserves increased 64% to 66.1 mmboe, Net 2P reserves increased 31% to 88.2 mmboe, F&D costs were just $2.4 per boe for 1P and $2.8 per boe for 2P reserves, 2P RRI of 360%, Tigana/Jacana oil fields complex certified with 164 mmboe 2P reserves gross, with field delineation continuing.2017 work and investment program created more value per share: Consolidated net debt-adjusted 2P NPV10 of $29.2 per share amd Colombia net debt-adjusted 2P NPV10 of $15.8 per share.

07:32 EDT Palatin begins dosing in first-in-human study of PL-8177 - Palatin has dosed the first healthy subjects in a Phase 1 clinical study of PL-8177. The Phase 1 study is a randomized, double-blind, placebo-controlled, single and multiple ascending dose study intended to evaluate the safety and tolerability of PL-8177 administered via subcutaneous injection. The study is designed to enroll up to 52 healthy volunteers. Top line data is currently expected in Q3. PL-8177, a selective melanocortin receptor agonist peptide, is Palatin's lead clinical development candidate for ulcerative colitis and other inflammatory bowel diseases.

07:30 EDT Broadcom trading resumes

07:15 EDT Bellicum Pharmaceuticals appoints Dr. William Grossman as Chief Medical Officer - Bellicum Pharmaceuticals (BLCM) announced the appointment of William Grossman, M.D., Ph.D., as Chief Medical Officer, effective February 5. Dr. Grossman joins Bellicum from Genentech/Roche (RHHBY). In his most recent role at Genentech, Dr. Grossman served as the Group Medical Director, Cancer Immunotherapy.

07:13 EDT Leidos joins with IBM, Unisys, Verizon to pursue U.S. Navy NGRN-R SMI&T program - Leidos (LDOS) announced it has joined forces with IBM (IBM), Unisys (UIS), and Verizon Enterprise Solutions (VZ) to pursue the U.S. Navy's Next Generation Enterprise Networks Re-compete, or NGEN-R, Service Management, Integration and Transport, or SMI&T, program. The team brings decades of experience supporting the federal government's evolving information technology needs. Leidos is the largest government systems integrator and the top provider of IT services and technical solutions to the U.S. Federal government. IBM has a track record of pioneering innovation, and houses one of the world's largest research and development organizations. Unisys builds high-performance, security-centric solutions for the most digitally demanding businesses and governments on earth. Verizon Enterprise Solutions is a leading provider of IT solutions to the Federal government, and is continually recognized for its portfolio of security, wireless, and network services. Combined, the team offers commercial best practices through research and development innovation, technology leadership, and the security expertise needed to provide a smooth transition to a future system that will achieve the Navy's critical modernization mission. NGEN-R SMI&T will provide IT and support services to the Navy Marine Corps Intranet, or NMCI, Marine Corps Enterprise Network, or MCEN, and the Outside of the Continental United States Navy Enterprise Network, or ONE-Net. The team's breadth of experience and history of mission-focused IT solutions demonstrates its capability to support the Navy and Marines' global operations.

07:08 EDT Impax announces Amneal has launched generic version of Concerta - Impax reports that Amneal Pharmaceuticals has launched methylphenidate hydrochloride extended-release tablets, USP in 18, 27, 36, and 54 mg strengths. Impax and Amneal Pharmaceuticals have entered into a definitive business combination agreement with the resulting combined company expected to create a generic business in the first half of 2018. Amneal's methylphenidate is an AB-rated equivalent to the brand Concerta. Annual U.S. sales of methylphenidate ER were $1.5B.

07:06 EDT Bristol-Myers reports Q4 Eliquis revenue growth of 44% y/y - Reports Q4 revenue growth on a y/y basis for the following drugs: Opdivo 4%; Orencia 6%; Sprycel 7%; Yervoy 2%.

07:03 EDT Broadcom raises bid for Qualcomm to 'best and final' offer of $82 per share - Broadcom Limited (AVGO) announced that it has made a "best and final" offer to acquire all of the outstanding shares of common stock of Qualcomm Incorporated (QCOM). Under the terms of the offer, Qualcomm stockholders would receive an aggregate of $82.00 per each Qualcomm share, consisting of $60.00 in cash and the remainder in Broadcom shares. Broadcom's improved offer is premised on either Qualcomm acquiring NXP Semiconductors N.V. (NXPI) on the currently disclosed terms of $110 per NXP share or the transaction being terminated and is also premised on Qualcomm not delaying or adjourning its annual meeting past March 6, 2018. Broadcom remains confident that the proposed transaction would be completed within approximately 12 months following the signing of a definitive agreement. "The significantly improved offer, which has been unanimously approved by the Board of Directors of Broadcom, represents a 50% premium over the closing price of Qualcomm common stock on November 2, 2017, the last unaffected trading day prior to media speculation regarding a potential transaction, and a premium of 56% to Qualcomm's unaffected 30-day volume-weighted average price...Broadcom believes this offer is vastly superior to Qualcomm's standalone prospects, with or without the closing of the NXP transaction, and remains hopeful the Qualcomm board of directors will act responsibly on behalf of Qualcomm stockholders and engage with Broadcom on this offer without further delay," Broadcom stated.

07:02 EDT Avon Products names Jan Zijderveld as CEO, effective immediately - Avon Products (AVP) announced that Jan Zijderveld has been appointed CEO, effective immediately. He succeeds Sheri McCoy, who previously announced her intention to retire from the company and Board. Jan will also serve as a member of the Board of Directors. Jan joins Avon from Unilever (UL, UN) where he has had a 30-year career, living and working in seven countries across three continents. He most recently served as a member of Unilever's Executive Committee, and as President of Unilever's $14B European business.

07:01 EDT Spectrum says Phase 3 Rolontis study met primary endpoint - Spectrum Pharmaceuticals announced that the first Phase 3 study of ROLONTIS, ADVANCE, has met its primary endpoint of non-inferiority in Duration of Severe Neutropenia in comparison to pegfilgrastim. This study evaluated the safety and efficacy of ROLONTIS in the management of chemotherapy-induced neutropenia in 406 patients with early-stage breast cancer. The incidence of adverse events in this study was similar between the ROLONTIS and the pegfilgrastim arms. The Company also announced that RECOVER, the second Phase 3 study, has completed enrollment. In accordance with the FDA Special Protocol Assessment, Phase 3 ADVANCE study was a multicenter, randomized, active-controlled trial that enrolled 406 early-stage breast cancer patients, who receive docetaxel and cyclophosphamide chemotherapy every 21 days. Patients were randomized 1:1 to treatment with ROLONTIS or pegfilgrastim. The primary study endpoint was the Duration of Severe Neutropenia in Cycle 1 of chemotherapy, based on central laboratory assessment of ANC over the 21 day cycle. In January 2012, Spectrum entered into a licensing agreement with Hanmi Pharmaceuticals, gaining global rights for ROLONTIS.

06:59 EDT Broadcom trading halted, news pending

06:46 EDT Booz Allen raises quarterly dividend 12% to 19c per share - Payable on February 28 to stockholders of record on February 14.

06:07 EDT Apollo Medical announces MSA between Network Medical Management and Golden Shore - Apollo Medical (AMEH) announced that its management services organization, or MSO, Network Medical Management, or NMM, has entered into a Management Services Agreement, or MSA, with Golden Shore Medical Group to manage over 100,000 patients in California. Golden Shore Medical Group currently provides quality healthcare services to more than 100,000 patients and operates 17 clinics in four California counties: Sacramento County, San Bernardino County, Riverside County and Los Angeles County. Previously, the clinics were managed by Molina Medical Management, a subsidiary of Molina Healthcare, until being recently acquired by Dr. J. Mario Molina, formerly the CEO and Chairman of Molina Healthcare (MOH), a health insurance company with $19B in revenue listed on the New York Stock Exchange. Dr. Molina now serves as President and owner of Golden Shore. Pursuant to the terms of the MSA, NMM will be responsible for managing all health plan members assigned or delegated to Golden Shore, as well as all hospital risk pools. This effort is expected to be supported by the company's population health management platform, which includes administrative, clinical and technology capabilities.

06:03 EDT CareTrust REIT enters Montana market with $5.8M nursing facility acquisition - CareTrust REIT has acquired a 186-bed skilled nursing facility in Butte, Montana. The facility was added to CareTrust's existing master lease with Salt Lake City-based Eduro Healthcare, LLC, which took over operations on February 1. The total investment for the facility was approximately $5.8M, inclusive of transaction costs. The initial increase in annual cash rent from Eduro's amended master lease will be approximately $540K, with annual CPI-based rent escalators. Eduro's amended master lease has twelve years remaining on the initial term, plus two five-year renewal options. The acquisition was funded using CareTrust REIT's $400M unsecured revolving credit facility.

05:58 EDT Bon-Ton Stores files Chapter 11 petitions to implement financial restructuring - The Bon-Ton Stores yesterday announced that the company and its subsidiaries have filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The company is currently engaged in constructive discussions with potential investors and its debtholders regarding the terms of a financial restructuring plan. Bon-Ton intends to use this court-supervised process to explore potential strategic alternatives to maximize value for the benefit of its stakeholders, which may include a sale of the Company or certain of its assets as part of the plan of reorganization. The company's stores, e-commerce and mobile platforms under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates are open and operating as usual. As previously announced, the company is closing 47 stores in 2018, four of which closed in January and one store that is near completion and 42 additional at which store closing sales began on February 1, 2018 and will run for approximately 10 to 12 weeks. Bon-Ton has received a commitment from its existing ABL lenders for up to $725M in debtor-in-possession financing which, subject to court approval, is expected to support the Company's operations during the financial restructuring process. Bill Tracy, President and CEO, said, "We are currently engaged in discussions with potential investors and our debtholders on a financial restructuring plan, and the actions we are taking are intended to give us additional time and financial flexibility to evaluate options for our business. Bon-Ton has seven well-loved brands and associates who have remained committed to delivering excellent service to our customers for decades. During this court-supervised process, we plan to continue operating in the normal course and executing on our key initiatives to drive improved performance." Bon-Ton has filed a number of customary motions with the Bankruptcy Court seeking authorization to support its operations during the financial restructuring process, including authority to pay wages and provide health and other employee benefits, and to pay vendors in the ordinary course for all goods and services provided on or after the Chapter 11 filing date. The company expects to receive Bankruptcy Court approval for these requests.

05:36 EDT Nasdaq, Palestine Exchange sign new market technology agreement - Nasdaq and Palestine Exchange, or PEX, have signed a new market technology agreement for Nasdaq to deliver new matching engine technology via the Nasdaq Financial Framework architecture to Palestine's stock exchange. PEX, which will also continue to use Nasdaq's SMARTS surveillance technology for monitoring its market, will leverage the modular functionality of the Nasdaq Financial Framework to offer additional services to their members and clients. This new agreement marks the next chapter in a 10-year technology partnership between Nasdaq and PEX.

05:24 EDT Kirby agrees to purchase Higman Marine for about $419M in cash - Kirby announced the signing of a definitive agreement to acquire Higman Marine, and its affiliated companies, for approximately $419M in cash, subject to certain closing adjustments. The purchase will be financed through additional borrowings. Higman's marine transportation fleet consists of 159 inland tank barges with 4.8M barrels of capacity, and 75 inland towboats. Higman's fleet moves petrochemicals, refined petroleum products, crude oil, natural gas condensate, and black oil on the Mississippi River System and Gulf Intracoastal Waterway for large midstream and global integrated oil companies. The closing of the acquisition is expected to occur in Q1 and is subject to customary closing conditions.