Stockwinners Market Radar for February 16, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:31 EDT Starboard raises stake in Cars.com to 8.9% from 7%

17:26 EDT General Dynamics awarded $148.9M government contract modification - General Dynamics Land Systems, Sterling Heights, Michigan, has been awarded a $148,964,414 modification to contract W56HZV-16-D-0060 to provide parts supply support for the entire Stryker program. Work locations and funding will be determined with each order, with an estimated completion date of Feb. 28, 2019. U.S. Army Contracting Command, Warren, Michigan, is the contracting activity.

17:25 EDT Huntington Ingalls awarded $1.43B government contract modification - Huntington Ingalls Industries, Pascagoula, Miss., is being awarded a $1,430,821,350 fixed-price-incentive modification to a previously awarded contract for the procurement of the detail design and construction of landing platform dock 29. Work is expected to be completed by July 2023. The Naval Sea Systems Command, Washington, District of Columbia, is the contracting activity.

17:10 EDT Moog in agreement to acquire VUES for $65M in cash - Moog announced that it has entered into a definitive agreement to acquire VUES Brno s.r.o. The purchase price is EUR53M or ($65M in cash. VUES is headquartered in Mostecka, Czech Republic, with additional facilities in Jarni and Slavkov u Brna. atory approvals in Germany and customary closing. "We are pleased to welcome VUES to Moog's expanding line of high performance motion products," said Pat Roche, President of Moog's Industrial Systems segment. "This business aligns with our core business model of delivering a competitive advantage to our customers by providing custom motion control solutions. The VUES product offering, engineering expertise and manufacturing capability will strengthen our market position." VUES had 2017 sales of approximately EUR30M or U.S. $37M.

17:02 EDT Intel announces David Pottruck to retire from Board of Directors - Intel announced that David Pottruck informed the company that he will not stand for re-election to Intel's Board of Directors at Intel's 2018 Annual Stockholders' Meeting. Pottruck, a member of the Board since 1998, will continue to serve as a director until the expiration of his current term at the 2018 Annual Stockholders' Meeting.

16:59 EDT Arconic reduces size of board from fourteen to thirteen members - On February 14, Julie Richardson notified the Board of Directors of Arconic that she had decided to resign from the Board, effective February 15.Richardson's resignation was not related to any disagreements with the company on any matters relating to the company's operations, policies or practices. In connection with Ms. Richardson's resignation, and pursuant to the company's Certificate of Incorporation and Bylaws, on February 15, the Board approved a decrease in the size of the Board from fourteen to thirteen members.

16:47 EDT AK Steel 'applauds' Commerce Departments import tariff recommendations - AK Steel said that it applauds U.S. Secretary of Commerce Wilbur Ross for his recommendations to President Trump that broad based relief be implemented to address the surge of steel imports that he determined threaten to impair the national security of the United States. "We are pleased with the recommendations by Secretary Ross that tough and effective actions be taken in a holistic manner to mitigate the flood of steel imports into the U.S.," said Roger K. Newport, Chief Executive Officer of AK Steel. "We commend Secretary Ross and his team at the Commerce Department for this work, and all that he and others have been doing on important trade issues with President Trump and his Administration. We urge prompt action on these recommendations."

16:31 EDT ChromaDex chairman Stephen Allen will retire from board of directors - ChromaDex Corporation announced that on February 13, 2018, Steve R. Allen, the chairman of the board, informed the company that he intends to retire from the board of directors at the end of his current term after four years of service. Accordingly, Allen will not stand for re-election as a director at ChromaDex's 2018 Annual Meeting in June.

16:29 EDT Avangrid to sell gas storage business - Avangrid announced that Avangrid Renewables Holdings, a wholly-owned subsidiary of Avangrid, has entered into a definitive agreement to sell Enstor Gas, which operates Avangrid's gas storage business, to Amphora Gas Storage USA, an affiliate of ArcLight Capital Partners. The transaction, which is subject to the satisfaction of customary closing conditions, is expected to be completed during Q2.

16:24 EDT Century Aluminum supports Commerce Department Section 232 report on Aluminum - Century Aluminum President and CEO Michael Bless issued the following statement in response to the release of the U.S. Department of Commerce's Section 232 report detailing the impact of imported aluminum on the national security of the United States: "We strongly support today's release by the Department of Commerce of the Section 232 Aluminum Report. The report demonstrates this administration's clear recognition that swift action is required to stop the surge of aluminum imports from destroying our industry. Aluminum is vital to our national security. Today we face a flood of imports-and that will only accelerate without immediate relief. We call on President Trump to act swiftly and boldly to save the American aluminum industry. We look forward to working with the administration to address this crisis."

16:19 EDT HFF announces $160M sale, financing of 1600 Market in Philadelphia's CBD - Holliday Fenoglio Fowler, or HFF, announced the $160M sale and financing of 1600 Market Street, a Class A, 39-story office tower totaling 825,968 square feet in Philadelphia's CBD. The HFF team represented the seller, Equity Commonwealth, and procured the buyer, an affiliate of American Real Estate Partners. Additionally, HFF worked on behalf of AREP and its institutional joint venture partner to secure a three-year, floating-rate loan for the acquisition.

16:16 EDT LCI Industries acquires window and glass business of Hehr International - LCI Industries announced that its wholly-owned subsidiary, Lippert Components Manufacturing, has acquired substantially all of the business assets of Hehr International. Headquartered in Los Angeles, California, Hehr manufactures windows as well as tempered and laminated glass for the RV, transit, specialty vehicle, and other adjacent industries. Hehr, which operates out of five U.S. locations, achieved sales of approximately $55M for the twelve months ended December 2017. The Hehr team will remain with LCI to lead the acquired business under the direction of Josh Roan, Vice President of Operations.

16:05 EDT Pernix sees significant decrease in Treximet sales in 2018 - Pernix said that despite the launch of an authorized generic, the company expects a significant decrease in the sales of Treximet in 2018.

16:04 EDT A.O. Smith CFO Kita sells 25,000 common shares - In a regulatory filing, A.O. Smith executive VP and CFO John J. Kita disclosed the sale of 25,000 shares of common stock at a price of $66.0997 per share.

15:18 EDT ViaSat rises following European peer's quarterly report - Shares of ViaSat, which provides satellite-based broadband services, produces satellite and wireless communication systems, and provides solutions to government agencies, are rising after Eutelsat Communications reported on its financial results for the half-year ended December 31, 2017. Commenting on the first half, Rodolphe Belmer, the CEO of Eutelsat, said: "First half results were in line with our expectations, with the decline in revenues mostly reflecting, as in the First Quarter, an unfavourable comparison basis in FY 2017. ..The integration of Noorsat, acquired to optimise Video distribution in the MENA region, is progressing smoothly. Looking ahead to the remainder of the year, all elements of our financial objectives are confirmed." Eutelsat added that it expects "solid commercial performance to support revenues in the second half," pointing to expectations for a positive outcome of its Video contract renewals, an expected favorable outcome of U.S. Government Autumn renewals, and incremental business secured in Government services. In a note to investors, William Blair analyst Louie DiPalma said ViaSat's shares were benefitting from the positive commentary made by Eutelsat. In late day trading, ViaSat shares are up $2.62, or 3.75%, to $72.55.

14:05 EDT Chicago Capital reports 5% passive stake in Jacksonville Bancorp - In a regulatory filing, Chicago Capital disclosed a 5% stake in Jacksonville Bancorp, representing 90,735 shares. The filing does not allow for activism.

13:50 EDT Victura Construction says will comply with any regulatory inquiry after SEC halt - Victura Construction announced the company has been notified by the Securities and Exchange Commission that the public interest and the protection of investors required a suspension of trading in the securities of the company, respectively. "Pursuant to Section 12(k) of the Securities Exchange Act of 1934, trading in the securities of the company has been suspended for the period from 9:30 a.m. EST, on February 16, 2018, through 11:59 p.m. EST, on March 2, 2018. The company will be complying with any regulatory inquiry during this period as requested," Victura stated.

13:36 EDT NextEra Energy raises dividend 13% to $1.11 - The board of directors of NextEra Energy declared a regular quarterly common stock dividend of $1.11 per share, up approximately 13% versus the prior-year comparable quarterly dividend. This increase is consistent with the policy announced in 2015 of targeting 12%-14% annual growth in dividends per share through at least 2018, off a 2015 base. The dividend is payable on March 15 to shareholders of record on Feb. 27.

13:11 EDT Kellogg's SVP, President North America Paul Norman leaving company - On February 16, Kellogg announced that Paul Norman would be retiring from the company to pursue other opportunities. Norman will remain with the company through April 1 to assist the company with transitioning the Kellogg North America business in an orderly manner. Until Norman's successor is named, the Kellogg North America business will report directly to Steve Cahillane. Paul Norman has been Senior Vice President, Kellogg Company, since 2005 and President, Kellogg North America since April 2015. He is also a member of the company's Global Leadership Team.

12:49 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly: 1. SEC SUSPENDS TRADING IN THREE PENNY STOCKS: The Securities and Exchange Commission announced Friday it has suspended trading in three companies amid questions surrounding statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The SEC's trading suspension orders state that recent press releases issued by Cherubim Interests (CHIT), PDX Partners (PDXP), and Victura Construction Group (VICT) claimed that CHIT, PDXP, and VICT acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology among other things. 2. RIOT INVESTIGATION: CNBC's Michelle Cabrera-Caruso reported on Friday that Riot Blockchain (RIOT) never booked a room in the expected hotel for its twice-delayed annual shareholder meeting and that Riot CEO John O'Rourke backed out of an interview with her at the last minute. She found O'Rourke, who sold about $869,000 worth of Riot stock just two months after the company changed its name, at a nearby building. O'Rourke declined to speak on camera. According to Caruso, "During that hour long off-camera meeting, O'Rourke told us his Riot stock sale was merely to pay taxes on his restricted stock and as to the sharp rise in shares to Riot, O'Rourke said that was unexpected and ridiculous. He also said he isn't worried about the SEC because we over-disclose." Caruso added, "And as far as those no-show annual meetings, O'Rourke told us there wasn't a quorum of shareholders needed for a vote and that additional corporate actions were in the works that would require a shareholder's meeting." Caruso said O'Rourke repeatedly promised to talk to CNBC on camera and confirmed the interview but cancelled the night before. 3. JAPANESE SELF-REGULATION: Cryptocurrency industry groups Japan Blockchain Association and the Japan Cryptocurrency Business Association have agreed to combine to accelerate the establishment of voluntary regulations and regain trust following the hack of Coincheck, Nikkei Asian Review reported Thursday. The organization, which is expected to launch on April 1, plans to quickly tackle the creation of self-impose rules regarding protection of client assets, system trouble, advertising and insider trading. 4. COINBASE CHALLENGES: On Friday, bitcoin broker Coinbase said it would refund customers for erroneous charges. The company said in a blog post, "Over the last few days, some Coinbase customers may have experienced additional charges and/or refunds when purchasing digital currency with a credit or debit card. We know this experience is frustrating. We are actively working with the card networks and processors to investigate these issues. Coinbase will ensure that each affected customer will be refunded in full for any erroneous charge." Additionally on Tuesday, Coinbase said in a blog post: "Over the last few weeks, USD withdrawals into PayPal (PYPL) accounts from Coinbase have not been operational. While you may have seen these updates on our status page, we understand that we should have proactively messaged this change more broadly. We apologize for any inconvenience this may have caused. Our current PayPal offering is not meeting many customers' expectations. Our plan is to re-enable support for 2 weeks and then disable PayPal entirely until we can overhaul the entire experience...we're planning to re-enabling PayPal later this year." In a Medium post on Thursday, Coinbase Commerce said: "We're excited to announce Coinbase Commerce, available today for merchants around the world. Merchants everywhere can use Coinbase Commerce to accept Bitcoin, Bitcoin Cash, Ethereum and Litecoin payments...We've already integrated with Shopify, one of the largest multi-channel commerce platforms, and are actively adding more integrations to make accepting cryptocurrency as easy as possible." 5. SUNRISE TELECOM REBRAND: Sunrise Telecom (SRTI) announced Monday it is changing its name to SRTI Blockchain Generation reflecting the company's new strategy, which is to commit to becoming a meaningful player in the evolution of blockchain technology. 6. "NOXIOUS POISON": Charlie Munger, vice chairman of Berkshire Hathaway (BRK.A, BRK.B) said he thinks the bitcoin craze is "totally asinine" at the Daily Journal shareholder meeting, CNBC reported Wednesday. "Bitcoin is noxious poison," he said. "Our government's more lax approach to it is wrong. The right answer to something like that is to step on it hard." 7. CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock (OSTK), Digital Power (DPW), Long Blockchain (LBCC), Kodak (KODK), Seven Stars Cloud Group (SSC), Riot Blockchain, Longfin (LFIN), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin was up roughly 16.6% this week to $10,058 in U.S. dollars according to CoinDesk. Meanwhile, Long Blockchain rose 17.3%, Kodak was up 24.1%, Riot Blockchain was down 25.6%, Longfin rose 12.1% and Social Reality fell 33.9%, all on a weekly basis. Bitcoin Investment Trust (GBTC) rose about 30.1% this week to $18.86. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

12:34 EDT Hasbro reaches agreement with Netflix to create toys for Super Monsters series - Hasbro (HAS) announced that it has reached an agreement in principle with Netflix (NFLX) to create play experiences for kids under its PLAYSKOOL brand, based on Netflix's original preschool series, Super Monsters. Super Monsters is an animated series about a group of preschool-aged kids who are descendants of the world's most famous monsters, such as Count Dracula, Cleopatra and Frankenstein. The show follows the kids through their Pitchfork Pines Preschool adventures as they learn to master their own special powers while learning how to be the best they can be. Hasbro's Super Monsters product line will include collectible figures of the core cast, plush, playsets and vehicles iconic to the show. The line will also feature role play products to let kids act out their own silly monster adventures. As the global master toy licensee, Hasbro will launch its line based on the Super Monsters series in fall 2018 under its PLAYSKOOL brand in the U.S., with additional markets to follow in 2019.

12:31 EDT Nickelodeon, Hasbro announce strategic partnership for 'Top Wing' products - Nickelodeon, a unit of Viacom (VIA, VIAB), and Hasbro (HAS) announced a strategic partnership for the network's new preschool series "Top Wing." The product line, which includes figures, vehicles and plush inspired by the show's four best friend rescue birds, will launch in the U.S. this fall, followed by international markets in Spring 2019.

12:06 EDT General Cable stockholders approve of acquisition by Prysmian Group - General Cable Corporation announced the voting results from the company's special meeting of stockholders. Stockholders of General Cable approved the company's previously announced acquisition by Prysmian Group for $30.00 per share in cash. A total of 38.14M shares, representing approximately 75.34% of the total number of shares of common stock outstanding and approximately 99% of the total votes cast, were voted in favor of the merger. Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close by Q3.

11:44 EDT Riot Blockchain plummets after CEO backs out of CNBC interview - Shares of Riot Blockchain are falling after CNBC posted an investigative report on the company and reported CEO John O'Rourke backed out of an interview with the financial news network. RIOT INVESTIGATION: CNBC's Michelle Cabrera-Caruso reported that the company never booked a room in the expected hotel for its twice-delayed annual shareholder meeting and that Riot CEO John O'Rourke backed out of an interview. "The hotel tells us there was never a meeting room ever booked under the name Riot Blockchain," Caruso said. She went to a nearby office building to find early investor Barry Hoenig, who led an activist move to replace the board, which changed the name from Bioptix to Riot Blockchain. There, Caruso, found Riot CEO O'Rourke, who sold about $869,000 worth of Riot stock just two months after the company changed its name. O'Rourke declined to speak on camera. According to Caruso, "O'Rourke insisted that he does not work out of Barry Hoenig's office even though we found him there." She also reported that during that hour long off-camera meeting, O'Rourke said his Riot stock sale was "merely to pay taxes on his restricted stock" As to the sharp rise in shares to Riot, O'Rourke said that was "unexpected and ridiculous. He also said he isn't worried about the SEC because we over-disclose." Caruso added, "And as far as those no-show annual meetings, O'Rourke told us there wasn't a quorum of shareholders needed for a vote and that additional corporate actions were in the works that would require a shareholder's meeting." Caruso said O'Rourke repeatedly promised to talk to CNBC on camera as long as it was a week later after some key announcements. O'Rourke confirmed the interview but cancelled the night before. HOENIG: Hoenig also agreed to be interviewed on camera but backed out two hours after. Caruso was able to get a phone interview in which Hoenig downplayed his influence with Riot and O'Rourke. "John O'Rourke is an adult and he makes his own decisions, okay?," he said. Caruso brought up Hoenig's FINRA suspension in 2000 for stock manipulation and asked if he still manipulated stocks. "The answer's no. Continue," he said, "I'm a successful investor. I'm a comfortable person. I don't need to work today. I have a beautiful family that's college-educated. And I'm very comfortable, I am very comfortable the truth will come out." Caruso reported that Hoenig and O'Rourke were involved in another company five years ago that changed its business model to blockchain and which has now changed its business model to cloud computing for cars. Hoenig sold a massive amount of shares in Riot, according to a new filing this week. RED FLAGS: Caruso spoke with Richard Berns, a securities lawyer who reviewed Riot's SEC filings. "I see a company that has had a change of control of the board, I see a company that has had a change in business, I see a company that has had several dilutive issuances immediately following the change of the board and change of the business. I see a stock that has gone zoom and from what I understand, a significant amount of insider selling, so yes, these are red flags," Berns said. "Are there things an investor should be wary of? I would say absolutely." WHAT'S NOTABLE: The SEC announced Friday it has suspended trading in three companies amid questions surrounding similar statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The SEC's trading suspension orders state that recent press releases issued by Cherubim Interests (CHIT), PDX Partners (PDXP), and Victura Construction Group (VICT) claimed that CHIT, PDXP, and VICT acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology among other things. PRICE ACTION: Riot Blockchain is down 32%, or $5.52, to $11.68 in morning trading.

11:32 EDT Alcoa up 2% following report on U.S. tariff and duty plans for aluminum - Shares of Century Aluminum (CENX) are nearly 5% higher following the headlines regarding the plans of the U.S. Commerce Department.

11:15 EDT Takeda says Entyvio shows higher rates of mucosal healing in recent study - Takeda Pharmaceutical announced new real-world data evaluating the comparative effectiveness of Entyvio and tumor necrosis factor-alpha-antagonist therapy in patients with moderately to severely active ulcerative colitis or Crohn's disease. These data were presented as oral presentations at the 13th Congress of the European Crohn's and Colitis Organization from February 14 to 17, 2018 in Vienna, Austria. These analyses observed that patients with UC treated with Entyvio compared to TNFalpha-antagonist therapy had statistically significant higher 12-month cumulative rates of mucosal healing and clinical remission, and numerically higher steroid-free clinical remission rates. In CD, results reported statistically significant higher 12-month cumulative rates of mucosal healing, and numerically higher rates of clinical remission and steroid-free clinical remission compared to TNFalpha-antagonist therapy. These analyses were conducted by the VICTORY Consortium. "These data from the VICTORY Consortium highlight the effectiveness of Entyvio in achieving mucosal healing and clinical remission in the real-world, and support the use of Entyvio as a first-line biologic therapy," said Professor William Sandborn, M.D., Chief, Division of Gastroenterology, University of California San Diego. "While additional research is needed to confirm these findings, these are important comparative effectiveness analyses of real-world data involving Entyvio and TNFalpha-antagonist therapy, which further aid our understanding of biologic therapy in clinical practice."

11:04 EDT Box Office Battle: 'Black Panther' targeting record breaking weekend - Opening this President's Day weekend is Disney (DIS) and Marvel's superhero film "Black Panther," starring Chadwick Boseman, Lupita Nyong'o, and Michael B. Jordan, which is expected to open in the $210M-$212M range over the four day weekend. Online ticket seller Fandango.com said that Black Panther is the company's largest pre-seller among all superhero films, and the fourth highest pre-seller of all time, behind the three most recent "Star Wars" movies. Sony's (SNE) live action/animated hybrid family film "Peter Rabbit" is expected to finish the holiday weekend in second place, earning an additional $21M-$22M. Comcast (CMCSA, CMCSK) subsidiary Universal's "Fifty Shades Free," based on the novels by E.L. James and starring Dakota Johnson and Jamie Dornan, is expected to finish in third place, bringing in an additional $19M in its second weekend at theaters. Sony's "Jumanji: Welcome to the Jungle," which was first released on December 20, 2017, is expected to add an additional $8.7M this four-day weekend. "Jumanji" has already earned over $370M domestically. Publicly traded companies in the space include 21st Century Fox (FOX, FOXA), Lionsgate (LGF.A, LGF.B), Time Warner (TWX), and Viacom (VIA, VIAB).

11:01 EDT Deere sees company worldwide agriculture & turf sales up 15% vs prior up 9%

11:00 EDT Deere sees US/Canada Ag industry sales up ~10% vs prior view up 5%-10% - Continues to see EU Ag sales up 5%. Continues to see Asia Ag flat to up 5%.

10:46 EDT Avis Budget defends 'qualified' board as largest investor seeks more seats - Shares of Avis Budget Group (CAR) are higher in morning trading after the company's largest shareholder said it would seek five total seats on the car rental company's board. The investor, which currently holds two seats on Avis' board, is urging management to change its strategy to boost the stock's value. ACTIVIST SEEKING MORE BOARD SEATS: SRS Investment Management, which holds a 14.7% stake in Avis Budget Group's voting shares and and another 16% in derivatives, is looking to shake-up the company's board of directors by seeking three more board seats, increasing several years of tension between the two over how to boost the stock's value. The $5B New York investment fund currently has two members it appointed to the 12-person board under a 2016 deal. SRS, which isn't typically an activist investor, told The Wall Street Journal that it made "made reasonable requests about the changes and its ownership level, but it wasn't willing to sign a three-year agreement to not fight." SRS, which has spent two years calling for change at Avis, including the exploration of strategic alternatives, first disclosed its position in 2010. In addition to calling for five total board seats, Reuters reported that SRS is also demanding the hiring of a new chief financial officer as well as linking management compensation with performance targets. AVIS RESPONSE: In a statement, Avis said it has had an "ongoing dialogue and cooperative relationship" with SRS and that it "welcomes the constructive input" of its stockholders. However, the company said it was "disappointed" that it will be involved in a "costly and distracting" proxy fight. Lead independent director Leonard Coleman said that "Avis Budget Group's highly qualified Board has an appropriate mix of skills and experiences, in-depth company knowledge, relevant expertise across a wide range of industries, and extensive management experience." RECENT POISON PILL: In January, Avis approved a one-year stockholder rights plan, or poison pill, to prevent SRS from obtaining control without paying a premium. The tactic is similar to the poison pill it used last year to block SRS, which, at the time, owned 9.7% of the common stock and another 18.8% in economic interest, from buying more than 10% voting power. Avis said last January that it was protecting all investors from the "creeping control" of SRS. Avis removed the rights plan when the sides reached a deal that limited SRS's position. PRICE ACTION: In morning trading, Avis Budget is up 2.3% to $39.70.

10:08 EDT Campbell Soup sees FY18 CapEx $425M - Says lowered future projections for carrot business. Expects to use portion of tax reform to accelerate investments in 2018. Sees FY18 inflation rate of approximately 3%. Expects to deliver $75M-$85M of cost savings in 2018. Expects adjusted gross margin to decline one percentage point. Expects interest expense of $135M-$140M. Expects FY18 effective tax rate of approximately 26%.

09:50 EDT Liberty Expedia Holdings (Series B) trading resumes

09:45 EDT Liberty Expedia Holdings (Series B) trading halted, volatility trading pause

09:34 EDT Coca-Cola says will see volume growth over the long-term

09:23 EDT Coca-Cola says will continue to see structural headwinds in 2018

09:20 EDT Coca-Cola sees majority of 2018 earnings growth in 2H

09:12 EDT Coca-Cola CEO says 2018 'shaping up to be stronger' than 2017 - Coca-Cola CEO James Quincey said on the company's Q4 earnings conference call that the company saw an improvement in 2H17 in India, Brazil and Argentina. Quincey said the company intends to expand AdeS into Europe in the near future. He said 2018 is shaping up to be stronger than 2017. Quincey said that while the economic environment in key emerging markets have not turned into a tailwind scenario, they are also not creating the same headwinds they did in 2017. Quincey also noted that U.S. tax reform is "encouraging" for the operating environment, adds that it will make investing in the U.S. "more attractive." He said there will be "some puts and takes" to the financial benefit of tax reform in the short-term.Coca-Cola is up about 2% in pre-market trading.

09:10 EDT Kraft Heinz CEO 'cautiously optimistic' as company invests 'aggressively' - Kraft Heinz CEO Bernardo Hees said he would characterize the company's outlook as "cautiously optimistic" while it "aggressively" invests to drive profitable sales and consumption growth in both the near- and long-term. He noted that he is cautious on short-term top-line performance, citing potential headwinds from high competition in developed markets, some "known first-half headwinds" in the U.S., lower organic growth potential in Q1 in Canada and an SAP implementation in Brazil. "At the same time, we are optimistic about our ability to drive profitable organic sales growth because we are accelerating investments, putting intense focus on our biggest opportunities to drive consumption gains in both the near- and long-term," Hees added.

09:04 EDT Gogo says Aeromexico to install 2Ku on additional Boeing 737-800 aircraft - Gogo (GOGO) announced that Aeromexico will install 2Ku on an additional 9 Boeing (BA) 737-800NG's, bringing the total to 29 aircraft. Today, 20 of Aeromexico's 737-800NG aircraft are flying with Gogo's 2Ku inflight connectivity technology. The new aircraft are expected to be installed in 2018.

09:01 EDT Boeing says 737 MAX 9 awarded FAA certification - Boeing announced that the 737 MAX 9 has received an amended type certificate from the U.S. Federal Aviation Administration, officially certifying the airplane for commercial service. This certification marks the culmination of a successful flight test program that began in March 2017 with two Boeing flight test airplanes. The FAA certification affirms that the airplane's handling, systems and overall performance all comply with required aviation regulations. Boeing is now in the final stages of preparing the MAX 9 for its first delivery to launch customer Lion Air Group.

08:59 EDT Cedar Realty Trust announces agreement with Snow Park Capital Partners - Cedar Realty Trust announced that it has entered into a cooperation agreement with Snow Park Capital Partners, LP, which beneficially owns approximately 3.9% of Cedar's outstanding common stock according to a recent SEC filing. Under the terms of the agreement, the Nominating/Corporate Governance Committee of the Company's Board of Directors will engage a nationally-recognized search firm to identify a new independent director candidate to stand for election to the Company's Board at the 2018 Annual Meeting of Shareholders. Under the terms of the cooperation agreement, Snow Park will have the right to consult on and interview the candidate selected by the Nominating/Governance Committee in consultation with the nationally-recognized search firm. Snow Park has committed to vote its shares in favor of all of Cedar's director nominees at the 2018 Annual Meeting and has also agreed to abide by customary standstill provisions. Cedar will seek shareholder approval to amend its charter to provide shareholders with the ability to amend its bylaws. The cooperation agreement between Cedar and Snow Park will be included as an exhibit to the Company's Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

08:53 EDT Kraft Heinz sees FY18 EBITDA performance skewed to second half

08:50 EDT Kraft Heinz CEO says cautious on near-term top-line outlook - Kraft Heinz CEO Bernardo Hees is speaking on the company's Q4 earnings call.

08:31 EDT Arena Pharma: Bice, Schneider, White to retire from board - Arena Pharmaceuticals announced Scott H. Bice, Phillip M. Schneider, and Christine A. White, M.D. have indicated that they will be retiring from the Board of Directors at the time of Arena's next annual stockholders' meeting, which is expected to held in June 2018.

08:21 EDT Deere reports Q1 worldwide equipment operations net sales up 27% - Net sales of the worldwide equipment operations increased 27 percent for the quarter. Deere's completion of the acquisition of the Wirtgen Group in December 2017 added 5 percent to net sales for the quarter. Sales also included a favorable currency-translation effect of 3 percent. Equipment net sales in the United States and Canada increased 24 percent, with Wirtgen adding 1 percent. Outside the U.S. and Canada, net sales increased 33 percent, with Wirtgen adding 12 percent, and a favorable currency-translation effect of 5 percent. Deere's equipment operations reported operating profit of $419 million for the quarter, compared with $255 million for the period in 2017. Results for the quarter included an operating loss for Wirtgen of $92 million, attributable to the unfavorable effects of purchase accounting and acquisition costs. Excluding the Wirtgen loss, the improvement was primarily driven by higher shipment volumes and lower warranty costs, partially offset by higher production costs. In addition, the prior period included a gain on the sale of SiteOne Landscapes Supply, and incurred expenses associated with a voluntary employee-separation program. The company's equipment operations reported a net loss of $964 million for the first quarter, compared with net income of $85 million for the same period last year. In addition to the operating factors mentioned above, the quarter was unfavorably affected by a provisional income tax expense and adjustments of $1.243 billion related to tax reform. Financial services reported net income attributable to Deere & Company of $425.3 million for the quarter compared with $114.4 million for the same period last year. The increase was largely attributable to a provisional income tax benefit of $278.1 million related to tax reform. Additionally, quarterly results benefited from a higher average portfolio and lower losses on lease residual values. Last year's results included expenses associated with a voluntary employee-separation program.

08:12 EDT TowneBank appoints William Littreal as CFO - Hampton Roads based TowneBank announced the promotion of William Littreal, CPA, to the position of Senior Executive Vice President and CFO to be effective upon the previously announced retirement of Clyde McFarland, Jr., who has served in that role since the founding of the company in 1999. Littreal joined TowneBank in 2008 and has served in several executive roles as the company's Finance Director from 2008 - 2011, Chief Operating Officer from 2011 - 2016, and in his current role as Chief Strategy Officer and Director of Investor Relations.

08:06 EDT Origin Agritech names James Chen as CEO, effective March 1 - Origin Agritech Ltd announced the Board of Directors has appointed Dr. Z. James Chen to be the CEO effective on March 1, 2018. Dr. James Chen served as Origin's CFO from 2012 to 2016 and was appointed a director of Origin on August 30, 2017.

08:06 EDT Ashford Hospitality Prime agrees to acquire Ritz-Carlton Sarasota for $171M - Ashford Hospitality Prime announced that it has entered into a definitive agreement to acquire the 266-room Ritz-Carlton Sarasota in Sarasota, Florida for $171 million. To fund the acquisition, the Company plans to use cash on its balance sheet as well as either drawing on its revolving credit line or securing a non-recourse mortgage loan on the property. As part of the transaction, the seller has agreed to provide a $5.5 million income guaranty to cover any decrease from 2017 hotel gross operating profit for up to three years, subject to certain conditions. In addition, the Company is also acquiring a 22 acre plot of vacant land for $9.7 million that is being entitled for residential development adjacent to the golf course. The acquisition is expected to close in early April subject to customary closing conditions. Because the acquisition is subject to customary closing conditions, the Company can give no assurance that the transaction will be consummated by such date or at all.

08:05 EDT Qualcomm: Board 'intensely focused' on maximizing value for stockholders

08:04 EDT Qualcomm: Broadcom proposal 'materially undervalues' Qualcomm

08:03 EDT Ryder sees higher capital expenditures in 2018 - CEO Robert Sanchez said, "In 2018, we are anticipating solid earnings growth across all business segments. Higher expected earnings are driven by robust contractual revenue growth from record sales results in 2017 as well as the strength of our sales pipeline. We forecast a significant increase in ChoiceLease fleet growth of 6,500 vehicles, driven by a continued trend toward outsourcing, our ongoing sales and marketing initiatives, and a strengthening freight environment. We are also anticipating strong rental revenue growth in this accelerating freight environment. We plan to grow the rental fleet by 6% as well as increase pricing. In DTS and SCS, we are also expecting revenue growth and margin expansion due to improved operating performance. Additionally, we instituted a zero-based budgeting process, significantly lowering overhead costs. We also anticipate 2018 earnings to benefit from Tax Reform, primarily due to a lower effective income tax rate. These expected overhead reductions and tax benefits will improve earnings and fund 2018 strategic investments in sales and marketing, new product development, and technology, which are focused on driving long term revenue and earnings growth. These benefits are expected to be partially offset by impacts from the extended downturn in the used vehicle market as well as higher maintenance costs on certain older model year vehicles that will largely exit the fleet over the next 18 months. We anticipate a modestly improved outlook for used vehicle pricing in 2018 that will benefit year over year results; however, we still expect used vehicle sales to incur a loss for the year. We are also reducing our long-term residual value estimates on vehicles in operation to reflect used vehicle market trends. Additionally, we are further accelerating depreciation on vehicles which we expect to make available for sale through mid-2019. We are planning significantly higher capital expenditures this year primarily due to increased investments to grow our lease fleet, and to refresh and expand our rental fleet. We expect to deliver higher operating cash flow of $1.8B, reflecting the returns from several years of fleet investment. Free cash flow is forecast at negative $600M, reflecting increased capital spending to support fleet growth."

08:01 EDT Lipocine announces settlement of securities class action lawsuit - Lipocine announced that the company and the other defendants have entered into a memorandum of understanding to settle the purported securities class action litigation captioned In re Lipocine Inc. Securities Litigation, 2:17CV00182 DB. The memorandum of understanding contemplates that the parties will enter into a settlement agreement, which, if entered into, will be subject to customary conditions including court approval following notice to the stockholders of the Company, and a hearing at which time the court will consider the fairness, reasonableness and adequacy of the settlement. If a settlement is finally approved by the court, it will resolve all of the claims that were or could have been brought in the action being settled. The defendants continue to deny the allegations made in the purported securities fraud class action litigation and have agreed to enter into the memorandum of understanding in order to avoid the burden and expense of further litigation.

07:58 EDT Prometic announces publication of PBI-4050's antifibrotic mechanism of action - Prometic Life Sciences announced the publication in the American Journal of Pathology, the official journal of the American Society of Investigational Pathology, of the novel antifibrotic mechanism of action of its small molecule lead drug candidate, PBI-4050. The paper entitled "A Newly Discovered Antifibrotic Pathway Regulated by Two Fatty Acid Receptors: GPR40 and GPR84" documents the discovery of an antifibrotic pathway involving these two receptors. PBI-4050 is now entering pivotal phase 3 clinical trials in patients with idiopathic pulmonary fibrosis following the confirmation of the trial design in a recent clinical development Type C meeting with the U.S. FDA. The manuscript of Dr. Lyne Gagnon et al. examines PBI-4050's ligand affinity in vitro and in vivo for the fatty acid receptors, GPR40 and GPR84. GPR40 and GPR84 are known to be involved in diverse physiological processes related to metabolic regulation and to inflammation, but the fundamental importance of these receptors in the fibrosis pathways had not been recognized until now. In this study, the authors uncovered a novel antifibrotic pathway involving these receptors, showing that GPR40 is protective and GPR84 is deleterious in fibrotic diseases. Importantly, this study also shows that PBI-4050 acts as an agonist of GPR40 and an antagonist of GPR84. Through its binding to these receptors, PBI-4050 significantly attenuated fibrosis in many injury contexts, as evidenced by the global antifibrotic activity observed in the kidney, liver, heart, lung, pancreas, or skin. This paper explains the unique and novel mechanism of action of PBI-4050, a first-in-class compound, in fibrosis-related diseases.

07:31 EDT Prometic announces publication of PBI-4050's antifibrotic mechanism of action - Prometic Life Sciences announced the publication in the American Journal of Pathology, the official journal of the American Society of Investigational Pathology, of the novel antifibrotic mechanism of action of its small molecule lead drug candidate, PBI-4050. The paper entitled "A Newly Discovered Antifibrotic Pathway Regulated by Two Fatty Acid Receptors: GPR40 and GPR84" documents the discovery of an antifibrotic pathway involving these two receptors. PBI-4050 is now entering pivotal phase 3 clinical trials in patients with idiopathic pulmonary fibrosis following the confirmation of the trial design in a recent clinical development Type C meeting with the U.S. FDA. The manuscript of Dr. Lyne Gagnon et al. examines PBI-4050's ligand affinity in vitro and in vivo for the fatty acid receptors, GPR40 and GPR84. GPR40 and GPR84 are known to be involved in diverse physiological processes related to metabolic regulation and to inflammation, but the fundamental importance of these receptors in the fibrosis pathways had not been recognized until now. In this study, the authors uncovered a novel antifibrotic pathway involving these receptors, showing that GPR40 is protective and GPR84 is deleterious in fibrotic diseases. Importantly, this study also shows that PBI-4050 acts as an agonist of GPR40 and an antagonist of GPR84. Through its binding to these receptors, PBI-4050 significantly attenuated fibrosis in many injury contexts, as evidenced by the global antifibrotic activity observed in the kidney, liver, heart, lung, pancreas, or skin. This paper explains the unique and novel mechanism of action of PBI-4050, a first-in-class compound, in fibrosis-related diseases.

07:18 EDT Campbell Soup raises annualized savings target to $500M by end of FY20 - In the second quarter of fiscal 2018, Campbell achieved $20 million in savings under its multi-year cost savings program, bringing total program-to-date savings to $365 million. Based on the success of the program to date and the identification of additional savings opportunities, Campbell has increased the annualized savings target from $450 million to $500 million by the end of fiscal 2020.

07:08 EDT Kraft Heinz CEO says 2017 performance didn't reflect progress or potential - "There's no question that our financial performance in 2017 did not reflect our progress or potential. We made significant improvements in many of our businesses, and were able to accelerate some important business investments at the end of the year. This, together with benefits from the U.S. Tax Cuts and Jobs Act and additional investments in our capabilities, should help further advantage our brands and grow our business in 2018 and beyond," said Kraft Heinz CEO Bernardo Hees.

07:07 EDT Apricus Biosciences receives CRL from FDA for Vitaros

07:05 EDT Enbridge adjusts 2018 DCF guidance range to $720M-$770M from $775M-$825M - As a result of the U.S. Tax Reform, EEP is adjusting its 2018 DCF guidance range to $720 million - $770 million from $775 million - $825 million and total distribution coverage in 2018 to approximately 1.15x from approximately 1.2x. Target consolidated Debt to EBITDA guidance remains unchanged.

06:55 EDT Apricus Biosciences trading halted, news pending

06:44 EDT Danone sees double digit recurring EPS growth in FY18 - Danone's focus will remain on accelerating growth and maximizing efficiencies, including the first year of delivery of its Protein program's savings. In 2018, the Company will progress towards its 2020 ambition through further sales growth and an improved recurring operating margin. As a result, Danone is targeting double-digit recurring EPS growth at constant exchange rate for 2018, excluding Yakult Transaction Impact. Danone assumes that market volatility will continue. In 2018, Danone expects further cost-inflation with a mid-single digit rise in the costs of raw and packaging materials, including: milk price inflation of low to mid-single digit overall, a double-digit increase of PET pricing driven by the crude oil price rebound and, inflationary conditions in other raw materials, including sugar and fruits. Danone also expects an ongoing impact from currency volatility, particularly the UK pound.

06:40 EDT Deere sees FY18 equipment sales up 29% - Company equipment sales are projected to increase by about 29 percent for fiscal 2018 and by 30 to 40 percent for the second quarter compared with the same periods of 2017. Of these amounts, Wirtgen is expected to add about 12 percent to Deere's net sales for the full year and about 16 percent for the second quarter. Also included in the forecast is a positive foreign-currency translation effect of about 3 percent for the year and about 4 percent for the second quarter. Net sales and revenues are projected to increase by about 25 percent for fiscal 2018. Net income attributable to Deere & Company is forecast to be about $2.1 billion. The net income outlook includes an unfavorable impact of tax reform estimated at $750 million, representing the net impact of the tax provision recorded at the enactment date of tax reform, partially offset by a lower effective tax rate over the remainder of the year. As a result, adjusted net income without the impact of the tax-reform adjustments is expected to be about $2.85 billion for the year. Deere's worldwide sales of agriculture and turf equipment are forecast to increase by about 15 percent for fiscal-year 2018, including a positive currency-translation effect of about 3 percent. Industry sales for agricultural equipment in the U.S. and Canada are forecast to be up about 10 percent for 2018, led by higher demand for large equipment. Full-year industry sales in the EU28 member nations are forecast to be up about 5 percent due to improving conditions in the dairy and livestock sectors. South American industry sales of tractors and combines are projected to be flat to up 5 percent as a result of continued positive conditions, particularly in Argentina. Asian sales are forecast to be in line with last year. Industry sales of turf and utility equipment in the U.S. and Canada are expected to be flat to up 5 percent for 2018. Deere's turf sales are expected to outperform the industry owing to the success of new products. Deere's worldwide sales of construction and forestry equipment are anticipated to be up about 80 percent for 2018, including a positive currency-translation effect of about 2 percent. Wirtgen is expected to add about 56 percent to the division's sales for the year. The outlook reflects continued improvement in demand driven by higher housing starts in the U.S., increased activity in the oil and gas sector, and economic growth worldwide. In forestry, global industry sales are expected to be up about 5 percent mainly as a result of improved demand throughout the world, led by North America. Fiscal-year 2018 net income attributable to Deere & Company for the financial services operations is expected to be approximately $840 million, which includes about $320 million of favorable changes associated with tax reform. Additionally, results are expected to benefit from a higher average portfolio and lower losses on lease residual values, partially offset by increased selling, administrative and general expenses.

06:36 EDT Deere reports Q4 worldwide equipment operations net sales up 27% - Net sales of the worldwide equipment operations increased 27 percent for the quarter. Deere's completion of the acquisition of the Wirtgen Group in December 2017 added 5 percent to net sales for the quarter. Sales also included a favorable currency-translation effect of 3 percent. Equipment net sales in the United States and Canada increased 24 percent, with Wirtgen adding 1 percent. Outside the U.S. and Canada, net sales increased 33 percent, with Wirtgen adding 12 percent, and a favorable currency-translation effect of 5 percent. Deere's equipment operations reported operating profit of $419 million for the quarter, compared with $255 million for the period in 2017. Results for the quarter included an operating loss for Wirtgen of $92 million, attributable to the unfavorable effects of purchase accounting and acquisition costs. Excluding the Wirtgen loss, the improvement was primarily driven by higher shipment volumes and lower warranty costs, partially offset by higher production costs. In addition, the prior period included a gain on the sale of SiteOne Landscapes Supply, and incurred expenses associated with a voluntary employee-separation program. The company's equipment operations reported a net loss of $964 million for the first quarter, compared with net income of $85 million for the same period last year. In addition to the operating factors mentioned above, the quarter was unfavorably affected by a provisional income tax expense and adjustments of $1.243 billion related to tax reform. Financial services reported net income attributable to Deere & Company of $425.3 million for the quarter compared with $114.4 million for the same period last year. The increase was largely attributable to a provisional income tax benefit of $278.1 million related to tax reform. Additionally, quarterly results benefited from a higher average portfolio and lower losses on lease residual values. Last year's results included expenses associated with a voluntary employee-separation program.

06:01 EDT Coinbase: Customers to be refunded in full for any erroneous charge - Coinbase says in a blog post: "Over the last few days, some Coinbase customers may have experienced additional charges and/or refunds when purchasing digital currency with a credit or debit card. We know this experience is frustrating. We are actively working with the card networks and processors to investigate these issues. Coinbase will ensure that each affected customer will be refunded in full for any erroneous charge. Our processor confirmed that any erroneous charges will be refunded over the next few days; however, if you believe you were affected by this issue or believe you experienced additional, unreimbursed fees or charges, please contact Coinbase's support team at support.coinbase.com so we can address your issue. Card issuers and banks recently requested that the MCC for digital currency purchases be changed by a number of the major credit card networks. As a result, purchases that occurred between January 22nd, 2018 and February 11th, 2018 may have been refunded and reprocessed-resulting in erroneous charges. Some customers might experience a delay between the issuance of the new charge and the offsetting refund, but ultimately customers should only have a single charge on their card statement. We deeply apologize for any frustration this may cause. We are actively working with banks, processors and networks to improve the digital currency purchasing experience." Reference Link

05:23 EDT Avis Budget comments on SRS nomination of directors - Avis Budget confirmed it has received notice from SRS Investment Management, which currently has two representatives on the Avis Budget Group Board of Directors, of SRS's intention to nominate five candidates for election to the Board at the 2018 Annual Meeting. Leonard S. Coleman, lead independent director of Avis Budget Group, said: "We have had an ongoing dialogue and a cooperative relationship with SRS over the last two years and welcome the constructive input of all of our stockholders. As SRS knows firsthand through its existing Board representation, the Avis Budget Group Board is highly focused on maximizing stockholder value and has provided effective oversight of the management team as it has successfully led the Company through multiple market cycles and positioned it well for the future. Given SRS's support of the Company's leadership team and strategic plans, as well as its knowledge of the upcoming Board refreshment, we are disappointed that we will be engaged in a costly and distracting proxy fight." As previously announced, the Board instituted a short-term Stockholder Rights Plan in January to protect unaffiliated stockholders from any efforts by SRS to obtain effective control of Avis Budget Group without paying a control premium or to block a transaction the Board believes is in stockholder interests. As reflected in the terms of the Stockholder Rights Plan, the Board has been and remains open to any and all value maximizing alternatives, and is committed to ensuring that no one stockholder be in a position to prevent any such outcome. Mr. Coleman concluded: "Avis Budget Group's highly qualified Board has an appropriate mix of skills and experiences, in-depth company knowledge, relevant expertise across a wide range of industries, and extensive management experience. Our ongoing Board refreshment process, through which we are identifying director candidates with additive expertise in technology and innovation to replace some retiring directors, will ensure that our Board remains best in class."

05:19 EDT Walmart hires over 194K vets since launch of Veterans Welcome Home Commitment - Walmart announced it has hired more than 194,000 veterans and promoted more than 28,000 to roles of greater responsibility since launching its Veterans Welcome Home Commitment in May 2013. The commitment guarantees a job offer to any eligible, honorably discharged U.S. veteran who has separated from active duty since Memorial Day 2013. Walmart is now more than three-quarters of the way to reaching its goal to hire 250,000 veterans by 2020.