Stockwinners Market Radar for February 22, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:10 EDT OMA Airports reports Q4 passenger traffic up 1.8% - Total terminal passenger traffic increased 1.8% to 5M. Domestic traffic increased 2.0% and international traffic increased 0.6%. The Monterrey and Culiacan airports contributed the most to passenger growth.

18:49 EDT Kadmon updates 'positive' results from Phase 2 study of KD025 in cGVHD - Kadmon announced updated "positive" results from an ongoing Phase 2 clinical trial evaluating KD025, its Rho-associated coiled-coil kinase 2 inhibitor, in patients with chronic graft-versus-host disease. The results are being presented in an oral presentation at the BMT Tandem Meetings in Salt Lake City. Updated data from Cohort 2 of the trial showed an Overall Response Rate of 69%. Responses in Cohort 1 remained the same, showing an ORR of 65%. Responses were rapid, with approximately 70% of patients across Cohorts 1 and 2 achieving responses after 8 weeks of treatment. Responses were observed across all affected organs. 64% of patients were able to reduce steroid dose, and four patients completely discontinued steroid use. KD025 was well tolerated, with no drug-related serious adverse events in either cohort. Kadmon expects to enroll an expansion cohort of approximately 40 patients after the optimal dose has been determined. In October 2017, KD025 received orphan drug designation from the FDA for cGVHD.

18:36 EDT Kazia granted orphan status for glioblastoma treatment - The FDA granted Kazia Therapeutics orphan status for its treatment of glioblastoma multiforme. The stock in after-hours trading is up 62c, or 12%, to $5.61. Reference Link

18:27 EDT Obsidian Energy names Jay Thornton chairman of the board - Obsidian Energy announced that Jay W. Thornton has been appointed as chairman of the Obsidian Energy board of directors, effectively immediately. George Brookman, who has been the a cting chair since August 8, 2017, will remain as a director on the board. "On behalf of the Board, I would like to thank Mr. George Brookman for his leadership as Acting Chair over the last several months," commented Mr. Thornton. "George stepped in after the tragic passing of our previous Chairman, Rick George, and guided the Company with energy and thoughtful diligence. I look forward to continuing to steward our base strategy while exploring all opportunities to unlock shareholder value from our significant asset base."

18:20 EDT Invacare names Kathleen Leneghan as CFO, effective immediately - Invacare announced the appointment of Kathleen Leneghan as Senior Vice President and CFO, effective immediately. Leneghan has been in the role of interim CFO of the company since November 26, 2017. Prior to her promotion, Leneghan was vice president and corporate controller since 2003. She has been with Invacare for 27 years, serving in various financial roles in both North America and Europe. Prior to joining Invacare, Ms. Leneghan was an audit manager with Ernst & Young LLP.

17:56 EDT HP Inc. sees higher component costs in 2018

17:47 EDT HP Inc. sees tax reform helping balance sheet, shareholders - Sees U.S. tax reform helping balance sheet and shareholders. Says will raise employee bonus opportunities with some tax savings. Comments taken from Q1 earnings conference call.

17:43 EDT RE/MAX Holdings concludes internal investigation - The board of RE/MAX Holdings announced the conclusion of the previously disclosed internal investigation by a Special Committee chartered by its independent directors and consisting solely of independent directors. With the assistance of external counsel, the Special Committee conducted a complete and independent investigation. The Special Committee's investigation did not identify any matters requiring adjustments to the company's previously issued financial statements. The investigation addressed previously undisclosed transactions involving a loan of personal funds from then CEO David Liniger to then COO Adam Contos as well as certain other personal transactions, including cash and non-cash gifts, from David and Gail Liniger to Contos and others. Dick Covey, the company's Lead Independent Director, noted, "Although the loan, gifts, and other transactions between the Linigers and Adam Contos did not involve use of any corporate funds, the Special Committee concluded that these transactions created an actual or apparent conflict of interest. This, and the non-disclosure of these personal transactions to the company, violated company policies. The board accepts that this nondisclosure was unintentional, and Adam has committed to repay the loan as promptly as possible." The Special Committee also identified instances of noncompliance with other company policies related to workplace conduct, which were limited to Liniger's actions and did not extend to other members of the company's leadership team. As previously reported, after founding, and leading the company for 45 years, Liniger completed the transition out of his position as co-CEO of RE/MAX on February 14. Contos was appointed as co-CEO in May 2017 as part of the board's planned leadership succession process and now serves as sole CEO of RE/MAX Holdings. As a result of the investigation, the board and senior leadership will implement remedial measures in the weeks and months ahead. These include enhanced corporate policies and practices related to gifts, loans, conflicts of interest and workplace conduct, and the reporting of such matters, and enhanced training on the responsibilities of officers and leaders related to these items.

17:30 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Immersion (IMMR), up 18.4%... Trade Desk (TTD), up 11.6%... HP Enterprise (HPE), up 10.3%... Planet Fitness (PLNT), up 8.9%... BJ's Restaurants (BJRI), up 7.8%... BioTelemetry (BEAT), up 5.9%... HP Inc. (HPQ), up 5.2%... GoDaddy (GDDY), up 4.5%... Edison International (EIX), up 3.1%... Assured Guaranty (AGO), up 1.9%... Red Robin (RRGB), up 1.6%. ALSO HIGHER: Mer Telemanagement (MTSL), up 18.6% after it fomred an alliance with Panasonic (PCRFY) over a hospitality industry solution. DOWN AFTER EARNINGS: Pebblebrook Hotel Trust (PEB), down 14.3%... Universal Display (OLED), down 12.5%... Acacia Communication (ACIA), down 10.6%... Wingstop (WING), down 10.2%... Zoe's Kitchen (ZOES), down 9.3%... Redfin (RDFN), down 7.7%... MercadoLibre (MELI), down 7.2%... First Solar (FSLR), down 4.4%... Intuit (INTU), down 3.8%... Herbalife (HLF), down 3%... Air Lease (AL), down 1%. ALSO LOWER: ClearSign Combustion (CLIR), down 6.4% after it filed to sell common stock.

17:17 EDT Home Bancshares iIncreases share repurchase program - Home BancShares has authorized an increase of 5M in the number of shares of the company's stock available under its common stock repurchase program which was approved by the Board in January 2008 and previously amended in January 2017. The authorization was made in anticipation of the capital growth expected as a result of the "Tax Cuts and Jobs Act". As of January 31, a total of approximately 5,200,000 shares remained available for repurchase under the existing repurchase authorization which will increase to approximately 10,200,000 shares available for repurchase with this authorization.

17:11 EDT Point72 Asset Management reports 5% passive stake in Cott Corp.

17:06 EDT Turning Point Brands purchasing seven Vapor Shark stores for $1.5M - Turning Point Brands will retain ownership of seven Vapor Shark branded stores by purchasing and canceling the option granted to the former Vapor Shark owner. The action keeps those seven stores under TPB ownership. TPB agreed to pay the former Vapor Shark owner $1.5M to purchase and cancel the option to acquire the stores, with $1M paid in February 2018 and the remaining $0.5M payable over 24 months. Coincident with the Vapor Shark acquisition earlier in 2017, TPB recorded a $0.6M liability in Q2 in relation to the option granted to the former Vapor Shark owner to buy the Vapor Shark branded stores. As a result of this agreement, TPB expects a one-time Q4 2017 charge of $0.9M. TPB also expects Q4 effective tax rate to be approximately 49% due to a number of factors including the Tax Cuts and Jobs Act impact on tax expense as a result of revaluing deferred taxes.

17:04 EDT Oceaneering sees FY18 organic CapEx $80M-$120M

17:02 EDT Hancock Holding sells its consumer finance company, terms not disclosed - Hancock Holding Company announced that its banking subsidiary, Whitney Bank, has signed an agreement to sell its consumer finance company to First Tower Finance Company, LLC. Financial terms of the transaction were not disclosed.

17:00 EDT Gilead Executive Vice President James Meyers to retire - Gilead Science announced that James Meyers, Executive Vice President, Commercial Operations, will retire. Mr. Meyers joined Gilead in 1996 as a regional sales director and was appointed to his current role in 2016. Following a brief family leave earlier this year, Mr. Meyers made the decision to retire from his full-time role effective immediately. Mr. Meyers will remain with the company in an advisory capacity, to consult on priority projects and to assist with identifying his successor and facilitating the transition. The company will begin a search for his successor in the coming weeks.

16:57 EDT Summit Midstream sees 2018 CapEx $175M-$225M - Sees 2018 adjusted EBITDA $285M-$300M.

16:48 EDT GAP Airports CEO to retire, Raul Revuelta Musalem to succeed - Grupo Aeroportuario del Pacifico, S.A.B. de C.V announced that its CEO notified the company of his desire to retire from GAP in order to continue other activities in his home country, after a valuable trajectory spanning over 7 years. GAP appreciates his dedication, professionalism, talent and service during these past years. Raul Revuelta Musalem will assume the position of CEO, effective April 26, bringing over 18 years of infrastructure sector experience. He fulfills all the necessary requirements in order to assume this position. Raul Revuelta worked at GAP for over 10 years, as CFO and Chief Commercial Officer, between 2005 and 2015. Currently, Revuelta is the CEO of the Cross Border Xpress.

16:39 EDT Arbutus Biopharma settles litigation with Acuitas Therapeutics - Arbutus Biopharma Corporation announced that litigation initiated by Acuitas Therapeutics on October 25, 2016 in the Supreme Court of British Columbia has been settled before trial. The litigation centered on Acuitas' rights to use and sublicense Arbutus pre-April 15, 2010 LNP technology under a cross license agreement dated November 12, 2012. On February 7, 2017, Arbutus obtained an injunction preventing Acuitas from further providing Arbutus LNP technology to any third party. The settlement stipulates that the four non-exclusive viral vaccine sublicenses previously granted to Moderna are the only sublicenses to survive. These four sublicenses, previously granted by Acuitas to Moderna under the pre-April 15, 2010 Arbutus LNP patent families, are each limited to a specific viral target. Moderna has no other rights to Arbutus' broad suite of LNP intellectual property.

16:37 EDT TripAdvisor's Halpin sells 26,313 common shares - In a regulatory filing, TripAdvisor president of VR and attractions Dermot Halpin disclosed the sale of 26,313 common shares of the company at a price of $42.49 per share.

16:36 EDT First Financial Bancorp and MainSource Financial granted merger approval - First Financial Bancorp (FFBC) and MainSource Financial (MSFG) received regulatory approval from the Board of Governors of the Federal Reserve System to move forward with the proposed merger of MainSource Financial into First Financial Bancorp. The Ohio Division of Financial Institutions approved the proposed merger in January. The official closing of the merger transaction is scheduled for April 1, when the two banks will legally become one company. While MainSource will officially be First Financial Bank at that time, it is business as usual for associates and clients of each bank until the transition weekend targeted later in Q2, at which time MainSource Bank's operating systems will convert and its branches will be branded as First Financial Bank branches.

16:35 EDT CoreCivic increases quarterly dividend to 43c per share - CoreCivic announced that its board declared a quarterly dividend of 43c per share to be paid on April 16 to shareholders of record as of the close of business on April 2.

16:34 EDT Prologis increases quarterly dividend 9% to $1.92 per share - Prologis approved a plan to raise the company's annualized dividend level by 9% to $1.92 per share of common stock. The board declared a regular cash dividend for the quarter ending March 31, 2018, on the following securities: a dividend of 48c per share of the company's common stock, payable on March 29 to common stockholders of record at the close of business on March 15; and a dividend of $1.0675 per share of the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, which will be payable on April 2 to Series Q stockholders of record at the close of business on March 19.

16:33 EDT Papa Murphy's appoints Laura Szeliga Chief Marketing Officer - Papa Murphy's Holdings announced that Laura Szeliga has been named as Chief Marketing Officer, effective February 21.

16:32 EDT GoDaddy reports Q4 total bookings of $657.9M, up 25.4% year over year - Reports Q4: Net cash provided by operating activities of $104.3 million, up 17.1% year over year. Unlevered free cash flow of $109.2 million, up 42.6% year over year. Customers of 17.3 million at December 31, 2017, up 17.6% year over year. Average revenue per user of $139, up 7.4% year over year. Domains revenue of $281.6 million, up 16.1% year over year. Hosting and Presence revenue of $228.8 million, up 29.5% year over year. Business Applications revenue of $91.8 million, up 37.6% year over year. International revenue of $207.3 million, up 52.9% year over year.

16:31 EDT Mercury Systems receives $3.2M follow-on order - Mercury Systems announced it received a $3.2M follow-on order from a leading defense prime contractor for BuiltSECURE ruggedized memory devices integrated into an advanced airborne military computing system. The order was booked in the company's Q2 and is expected to be shipped over the next several quarters.

16:28 EDT Anthem names Elizabeth E. Tallett independent chairman of the board - Anthem announced that its board of directors has elected Elizabeth E. Tallett to the role of chairman of the board, effective May 16, 2018. Tallett will succeed Joseph R. Swedish, who served as chairman of the board since December 2015, and as previously announced, will retire from the board as of the annual shareholder meeting. With the election of Tallett as independent chairman of the board, George A. Schaefer, Jr. will step down as Lead Director but remain a member of the board. Anthem would like to recognize Schaefer for his significant contributions during the past five years while serving in the chairman and then Lead Director role.

16:27 EDT Continental Building expands share repurchase program to $300M - Continental Building announced that its board of directors has authorized an expansion of its stock repurchase program from up to $200 million to up to $300 million. The program has also been extended from the end of 2018 to the end of 2019. To date against the program, as expanded, the Company has repurchased $103.3 million of our common stock at an average price of $21.23 per share through December 31, 2017. The Company also announced plans to invest in high-return capital spending under its "Bison Way" initiative in the range of $25 million to $35 million beginning in 2018 and running through 2019.

16:25 EDT Wingstop down 8.9% after reporting Q4 earnings, giving FY18 guidance

16:24 EDT Xcerra trading halted, news pending

16:24 EDT Covanta sees FY18 adjusted EBITDA $425M-$455M - Sees FY18 free cash flow before working capital $100M-$130M; free cash flow $70M-$100M.

16:22 EDT Wingstop reports Q4 domestic SSS up 5.2% - WingStop reported system-wide restaurant count increased 13.5% to 1,133 global locations, with a system-wide sales increase of 15.6%.

16:20 EDT James River Group sees 12% or better return on average tangible equity in 2018 - James River Group announced its guidance to achieve a 12.0% or better operating return on average tangible equity and a combined ratio of between 94% and 97% for 2018.

16:17 EDT Hyatt increases FY18 view of capital return to $500M - With the completion of this transaction, Hyatt is increasing its 2018 guidance for return of capital to shareholders to a minimum of $500 million from the previous guidance of at least $300 million. Hyatt intends to provide a full update to the 2018 outlook including the impact of these transactions and the new revenue recognition accounting standard with its first-quarter earnings release in May.

16:15 EDT HP Inc. up 8% after reporting Q1 earnings, giving Q2, FY18 guidance

16:11 EDT GoDaddy sees FY18 unlevered free cash flow $605M-$625M - For the full year 2018, GoDaddy expects unlevered free cash flow in a range of $605 million to $625 million, representing approximately 24% growth at the midpoint versus the $495.5 million in unlevered free cash generated in 2017. GoDaddy expects full year cash interest payments of approximately $90 million to $95 million and cash tax-related payments of $25 million to $30 million.

16:10 EDT Edison to provide FY18 guidance after final CPUC decision

16:05 EDT Universal Display raises quarterly dividend from 3c to 6c per share - The dividend is payable on March 30, 2018 to shareholders of record as of the close of business on March 15, 2018.

16:02 EDT GTx announces phase 2 Enobosarm results at SUFU - GTx, Inc announced the acceptance of an abstract on clinical results from an ongoing, open-label, Phase 2 proof-of-concept clinical trial evaluating enobosarm 3 mg in postmenopausal women with stress urinary incontinence. This study is the first clinical trial evaluating an orally-administered selective androgen receptor modulator for SUI. The clinical results will be outlined during a podium presentation at the Society of Urodynamics, Female Pelvic Medicine, & Urogenital Reconstruction 2018 Winter Meeting being held from February 27 to March 3, 2018.

15:26 EDT Syneos Health announces departures of chief financial, administrative officers - Syneos Health (SYNH), formerly INC Research (INCR), disclosed in a regulatory filing last night that on February 21 the board of directors appointed Jason Meggs, who was serving as Executive Vice President and Chief Financial Officer of the Commercial Solutions segment of the company, as Executive Vice President and Interim CFO of the company, effective immediately. As previously announced on January 3, Gregory Rush, Executive Vice President and CFO, planned to step down as CFO and cease to be an executive officer. Rush will be placed on paid leave for the remainder of his previously announced term of service, which runs through April 30, the company noted. Additionally, on February 14, Christopher Gaenzle, Chief Administrative Officer, General Counsel and Secretary of the company, tendered his resignation notice, with his final day of employment being April 15. Gaenzle was placed on paid leave as of February 19, at which time he ceased to function in such roles and ceased to be an executive officer of the company. Purvesh Patel, Senior Vice President and Deputy General Counsel of the company, will serve as interim General Counsel and interim Secretary of the company. Other members of management will continue to perform the other functions of the Chief Administrative Officer on an interim basis, Syneos stated.

14:30 EDT Macquarie Infrastructure plunges after cutting dividend - Shares of Macquarie Infrastructure Corporation (MIC) have plunged after the company announced a 31% reduction in its dividend payout. Following the news, both SunTrust and JPMorgan cut their recommendations on the stock to neutral-equivalent ratings. RESULTS, DIVIDEND CUT: Last night, Macquarie Infrastructure reported fourth quarter earnings per share of $4.13 and revenue $471.21M. The company also said it sees 2018 EBITDA of $690M-$720M. Additionally, Macquarie Infrastructure announced that it has made the decision to reduce its 2018 dividend in favor of internally funding the repurposing of the assets at International-Matex Tank Terminals and to take advantage of the incentives to invest in growth projects that are a part of recent tax reform. "We believe that our guidance for a dividend of $1 per share, per quarter, in 2018 strikes a balance between continuing to return the majority of our Free Cash Flow to shareholders in the form of a dividend and strengthening our balance sheet in support of future dividend growth," said Christopher Frost, CEO. MOVING TO THE SIDELINES: Following the announcement, SunTrust analyst Tristan Richardson downgraded Macquarie Infrastructure to Hold from Buy and lowered his price target on the shares to $60 from $75. With an unexpected 2018 shortfall in the company's International-Matex Tank Terminal leading to the reduction in its dividend payout, the analyst told investors he believes Macquarie Infrastructure is unlikely to outperform in the medium-term. Further, Richardson argued that while the company has growth opportunities both in Aviation and Power, and potential cash flow catalysts from asset sales, these opportunities do not outweigh the utilization headwind in IMTT over the next year. Meanwhile, JPMorgan analyst Jeremy Tonet also downgraded Macquarie Infrastructure to Neutral citing its weaker than expected 2018 EBITDA guide. The analyst noted that he believes Macquarie likely moves into a "show me" camp for investors and could lose a portion of its income-oriented investor base. While Tonet acknowledged he can understand the logic to at least halting dividend growth to increase self-funding, the magnitude of the cut surprises him and will likely lead to some rotation by income investors. SHARES OVERSOLD: Commenting on the selloff in Macquarie Infrastructure shares after management announced the cut of its future dividend to $1/quarter from $1.44/quarter, Oppenheimer analyst Ian Zaffino argued that the stock has fallen "sufficiently" to account for a now marred dividend track record. Earlier in the day, Zaffino had lowered his price target on the stock to $75 from $100, calling the decision to reduce the company's dividend "surprising." In a second note to investors, he further lowered his price target on the shares to $60 from $75, while maintaining a Buy rating on the name. PRICE ACTION: In afternoon trading, Macquarie Infrastructure has dropped 40% to about $38 per share.

14:04 EDT MKS Instruments VP John Abrams sells 9,831 shares of company stock - John Abrams, VP of global sales at MKS Instruments, disclosed in a filing that he had sold 9,831 shares of company stock on February 21 for an average price of $114.94.

13:45 EDT Norwegian Cruise Line CFO Wendy Beck to leave company by September 30 - The CFO search will also include candidates for next CEO. Comments are from the company's earnings conference call.

13:11 EDT Analyst cuts Alkermes rating as cancer drug seems less effective than competitor - Shares of Alkermes (ALKS) are sliding after Jefferies analyst Biren Amin downgraded the stock to Hold as he believes the shares are fairly valued. Further, the analyst argued that the company's ALKS-4230 may be weaker on efficacy than Nektar Therapeutics' (NKTR) NKTR-214 and is unlikely to provide upside. MOVING TO THE SIDELINES: In a research note to investors this morning, Jefferies' Amin downgraded Alkermes to Hold from Buy, with an unchanged price target of $66, saying the shares are fairly valued and price in "significant value" for the late-stage pipeline. The analyst noted that Vivitrol and Aristada continue to experience modest growth and therefore should not drive shares higher. Following a "deep dive" on immuno-oncology candidate ALKS-4230, Amin told investors that he believes preclinical data suggest the drug may be weaker on efficacy than Nektar Therapeutics' interleukin-2 receptor NKTR-214. ALKS-4230 is "inherently different" from NKTR-214 based on cross comparison of preclinical data, he contended, while pointing out that Nektar signed a blockbuster deal with Bristol-Myers (BMY) where it received a $1.8B upfront for a third of the economics on NKTR-214. From the preclinical data published, Amin believes ALKS-4230 appears less effective in CD8+ T cell expansion compared to NKTR-214 in mouse model, and when evaluating CD8/Treg ratio, ALKS-4230 has a lower ratio compared to NKTR-214. IMPROVING SAFETY: Jefferies' Amin also noted that there's been many attempts to improve the safety profile of IL-2 but the science on improving safety is somewhat conflicting and its unclear if Alkermes attempt will result in a better safety profile. Alkermes also suggested that lower Tregs may lead to better safety, but the analyst also finds conflicting evidence here. Additionally, Amin pointed out that he knows of one patient in the Alkermes Phase I/II trial who did receive ALKS-4230 - in the fourth dose cohort - and it seemed the drug was ineffective initially. At a slightly later timepoint, she experienced a drastic reduction in her albumin levels which required a transfusion, he explained, adding that the patient succumbed from her cancer. PRICE ACTION: In afternoon trading, shares of Alkermes have dropped almost 10% to $57.08. Meanwhile, Nektar's stock has gained about 3.5% to $89.49.

13:05 EDT BMW to pay $2.2M to settle DOJ claims of SCRA violations - The Justice Department announced that BMW Financial Services, N.A. has agreed to pay over $2M to resolve allegations that it violated the Servicemembers Civil Relief Act by failing to refund a type of up-front lease payment to 492 servicemembers who lawfully terminated their motor vehicle leases early. This is the first case brought by the Department involving a motor vehicle lessor's failure to refund lease amounts to servicemembers who exercised their SCRA rights to terminate their leases. The SCRA provides servicemembers with protections that permit them to terminate motor vehicle leases early without penalty after entering military service or receiving qualifying military orders for a permanent change of station or to deploy. When servicemembers lawfully terminate motor vehicle leases, the SCRA requires that they be refunded all lease amounts paid in advance. The agreement resolves a suit filed today by the United States in the United States District Court for the District of New Jersey. It covers all leases terminated by servicemembers since August 24, 2011. The agreement requires BMW FS to refund to each servicemember portions of the pre-paid CCR amount based on how many days were remaining in the lease. In addition, BMW FS will pay indirect damages to each servicemember of three times the refund or $500, whichever is larger. The agreement requires BMW FS to deposit $2,165,518.84 into an escrow account to compensate the 492 servicemembers whose rights were violated under the SCRA. BMW FS also must pay $60,788 to the United States Treasury. The agreement also requires BMW FS to revise its policies and procedures to ensure that servicemembers who terminate their auto leases early receive a full refund of all eligible pre-paid CCR amounts.

12:25 EDT BRT Apartments acquires property in Georgia - BRT Apartments Corp. announced that an entity in which it has a 50% equity interest acquired Madison at River Sound, a 586-unit multi-family property located in Lawrenceville, Georgia, for $77.3M, including $54.4M of mortgage debt obtained in connection with the acquisition. The mortgage debt matures in 2028, carries a very attractive interest rate of 3.97% and is interest only until maturity. BRT contributed $15.2M of equity in connection with this acquisition. The source of funds was the balance of the proceeds from the previously announced sale of The Fountains Apartments.

12:09 EDT Nevada AG announces settlement with Takata over defective airbags - Nevada Attorney General Adam Paul Laxalt announced a settlement with TK Holdings, the U.S. subsidiary of Takata, over allegations that the company concealed safety issues related to its airbag systems installed in a wide variety of vehicles. TK Holdings filed for bankruptcy in June and its reorganization plan has been confirmed by the United States Bankruptcy Court for the District of Delaware. The settlement, reached between the attorneys general of 44 states, the District of Columbia and TK Holdings concludes a multi-state investigation into the company's failure to timely disclose known safety defects associated with certain airbag inflators using phase-stabilized ammonium nitrate as a propellant. The consent decree and settlement agreement have been presented to the United States Bankruptcy Court for the District of Delaware for approval. Under the consent decree and settlement agreement, TK Holdings and its successor, Reorganized TK Holdings, shall: Not advertise or otherwise represent the safety of its airbag systems or phase-stabilized ammonium nitrate in any way that is false, deceptive or misleading; Not represent that its airbags are safe unless supported by competent and reliable scientific or engineering evidence; Not falsify or manipulate testing data, or provide any testing data that the companies know is inaccurate; Except as needed to fulfill its obligations under the various recalls, sell any airbag systems using PSAN as a propellant; Comply with state and federal law, as well as the NHTSA Consent Order and Coordinated Remedy Order; and Continue to cooperate with auto manufacturers to ensure that replacement airbag inflators are made available as expeditiously as possible from all possible sources. TK Holdings has also agreed to reimburse the multi-state for its investigative costs and for the entry of stipulated civil penalty in the amount of $650M. The multi-state agreed that, given the pending bankruptcy and the company's inability to pay its debts, this penalty would be subordinated in order to maximize the recovery available to consumers who were the victims of this airbag defect. Reference Link

11:22 EDT Clovis jumps as analysts get more bullish following EU advisory news - Shares of Clovis (CLVS) are on the rise after Evercore ISI analyst Steven Breazzano upgraded the stock to Outperform, a buy-equivalent rating, citing an attractive valuation and his belief that potential of the PARP class of cancer drugs is "too big to ignore." Clovis also saw another upgrade this morning, with RBC Capital analyst Kennen MacKay raising his rating on the shares to Outperform following the positive trend vote from the European CHMP on the company's Rubraca treatment. BUY CLOVIS, TESARO: In a research note to investors this morning, Evercore ISI's Breazzano upgraded Clovis and peer Tesaro (TSRO) to Outperform from In Line, telling investors the recent selloff in the stocks has made their valuations attractive on a long-term basis for what he views as two company's at the front of a de-risked oncology class poised for significant growth. The market opportunity for indications where PARP inhibitors already work justifies the valuations alone, he contended, adding that he views adoption of the PARP class so far as "robust," indicating high physician/patient interest. The analyst argued that potential concerns about adoption/duration of therapy and a slowing growth rated should be temporary, as newly incident patients will drive durations of therapy higher and will build the underlying patient numbers over the next 2-3 years. Breazzano continues to view the PARPs as more similar than different, with Tesaro currently the market leader in ovarian, and Clovis the most inexpensive pure play PARP inhibitor on the market with a similarly efficacious and active drug. Nonetheless, the analyst trimmed his price target on Clovis shares to $72 from $73, and lowered his price target on Tesaro to $88 from $121. RUBRACA VOTE: Following a Scientific Advisory Group - Oncology meeting last week and an oral explanation this week, the European Union's European Medicines Agency's CHMP communicated yesterday a positive trend vote for the rucaparib marketing authorization application and their intention to hold a final vote on the treatment indication at their March meeting. Reacting to the announcement, RBC Capital's MacKay upgraded Clovis to Outperform from Sector Perform, as he believes the positive trend vote on Rubraca is a "clearing event" given its competitive profile relative to other PARP inhibitors. MacKay added that Clovis offers a "compelling valuation" for a commercial oncology company. Nonetheless, the analyst trimmed his price target to $72 from $80 based on the updated model for 2018 Rubraca treatment sales in U.S. and E.U, decreased maintenance ramp, and increases SG&A expense assumptions. Meanwhile, Morgan Stanley analyst Andrew Berens voiced a similar opinion, saying he sees Clovis' announcement that Rubraca has received a positive trend vote from the European CHMP as strongly suggesting a positive final CHMP vote in March. While the analyst told investors in a research note of his own that he remains cautious ahead of the company's fourth quarter report later this month due to Rubraca's inferior competitive position prior to approval in second-line maintenance, Berens reiterated an Overweight rating and $86 price target on Clovis shares. PRICE ACTION: In late morning trading, shares of Clovis have jumped about 8% to $59.14, while Tesaro is fractionally lower at $61.57 per share.

11:11 EDT Forest City raises dividend to 18c per share - Forest City Realty Trust announced that its board of directors has declared an increased cash dividend of 18c per share of common stock, payable on March 16 to holders of record of common stock as of the close of business on March 5.

10:47 EDT Xilinx, Maxim seen as alternate targets if Broadcom can't nab Qualcomm - Qualcomm (QCOM) remains in focus after Broadcom (AVGO) yesterday reaffirmed its commitment to acquiring the company but lowered its takeover offer to $79 from $82 per share. Commenting on the news, RBC Capital analyst Amit Daryanani told investors that it may be prudent to think about other takeover options for Broadcom should its attempt to acquire Qualcomm fail, naming Xilinx (XLNX), Analog Devices (ADI), Maxim Integrated (MXIM), Marvell Technology (MRVL) and Microsemi (MSCC) as potential alternate targets. ADJUSTED OFFER: Yesterday, Broadcom reaffirmed its commitment to acquiring Qualcomm, but adjusted its offer following Qualcomm's board's decision to "transfer" $6.2B of value to NXP (NPXI) stockholders via an increased takeover bid. Broadcom is prepared to acquire Qualcomm for $79 per Qualcomm share, consisting of $57 in cash and $22 in Broadcom shares, premised on Qualcomm's revised agreement to acquire NXP at $127.50 per share. In addition, Broadcom's proposed merger agreement for Qualcomm would provide for an automatic increase of $3 in cash per Qualcomm share, or a total of $82 per Qualcomm share, in the event that Qualcomm is unable to complete the NXP acquisition. Broadcom said it believes that Qualcomm board could have preserved value by following ISS's clear recommendation to work with Broadcom on the NXP transaction and negotiate the sale of Qualcomm to Broadcom. Qualcomm responded that "Broadcom's reduced proposal has made an inadequate offer even worse despite the clear increase in value to Qualcomm stockholders from providing certainty around the NXP acquisition. Broadcom has refused and continues to refuse to engage with Qualcomm on price." OTHER TARGETS: RBC Capital's Daryanani told investors that Broadcom is in a "unique position" as it generates $9B-$10B of free cash flow annually, has a balance sheet that is "almost net debt neutral" and a management team that has "impeccable history in integrating assets." While he expects Broadcom to remain committed to its dividend payout at 50% of trailing twelve months free cash flow, incremental cash could be earmarked for other acquisitions and/or buybacks. Daryanani pointed out that he sees potential targets in Xilinx, which satisfies most of Broadcom's requirements and is in a stable duopoly with Intel (INTC); Analog Devices and Maxim Integrated, which could have room for further margin expansion; Marvell Technology, despite regulatory hurdles making the deal improbable; and Microsemi, given media reports saying it is a willing seller at less than $70 per share. Nonetheless, the analyst said he believes Broadcom has the ability to sustain double-digit growth with or without Qualcomm. PRICE ACTION: In morning trading, shares of Qualcomm are about flat at $63.39, while Broadcom has gained over 1% to $251.63. Meanwhile, Xilinx is up 1.4%, Microsemi is up 1.2%, Analog Devices has gained nearly 1%, Maxim Integrated is down 0.3% and Marvell is flat.

10:32 EDT TORM PLC (Class A Stock) trading resumes

10:22 EDT Roku CEO says still has no plans to get into original content - Roku CEO Anthony Wood is being interviewed on CNBC.

10:01 EDT PNC Financial names William Parsley as COO, effective immediately - The PNC Financial Services Group announced that E William Parsley III has been named COO, effective immediately. Gagan Singh will succeed Parsley as chief investment officer and continue with his current duties and Randall C. King will succeed Parsley as treasurer and continue with his current duties. Both will continue to report to Parsley.

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

09:47 EDT Deutsche Telekom buys 230K shares of T-Mobile common stock - In a regulatory filing, Deutsche Telekom (DTEGY) disclosed its purchase of 230,000 shares of T-Mobile (TMUS) common stock at an average price of about $60.17 per share on February 21.

09:43 EDT Snap slips after Kylie Jenner critique - Early weakness in shares of Snap has followed a tweet last night from Kylie Jenner, who has 24.5M Twitter followers. In the critical tweet, Jenner wrote: "sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad." In a later tweet, Jenner added: "still love you tho snap ... my first love". In early trading, shares of Snapchat's parent company are down 53c, or 2.8%, to $18.11. Reference Link

09:32 EDT NN, Inc. acquires Bridgemedica, terms not disclosed - NN announced it has completed the acquisition of the assets of Bridgemedica, a medical device company that provides concept to supply solutions through design, development engineering and manufacturing. Financial terms of the transaction were not disclosed. Richard Holder, president and CEO commented, "The acquisition of Bridgemedica is another key step in the growth of our Life Sciences segment through significantly expanding our new product design and development capabilities. This acquisition aligns perfectly with our strategic plan and long-term objective to further diversify our portfolio and expand into markets that we believe have strong growth potential. Bridgemedica significantly expands our new product design engineering and development capabilities through its expertise in rapidly moving from the concept design stage through development and full-scale product manufacturing as we continue to focus on providing more value add and innovative solutions for our customers."

09:26 EDT Wendy's says sees FY18 adjusted EBITDA $420M-$430M, up 8%-10% - Sees FY18 company restaurant margins 17%-18%. Sees FY18 adjusted tax rate approximately 23%-25%. Sees FY18 free cash flow $220M-$240M.

09:22 EDT SSLJ.com enters into cooperation agreement with Tianmen Han Da Tech - SSLJ.com has entered into a strategic cooperation agreement with Tianmen Han Da Technology, a construction and e-commerce platform company in China. Han Da also awarded the company a $17.3M contract for the decoration design and construction of Han Da's Tianmen commercial project. Pursuant to the Agreement, SSLJ is now the featured contractor to handle the decoration design and construction of Han Da's projects including the Tianmen commercial project. The Tianmen commercial project is tentatively scheduled to commence prior to June 30. According to the agreement, the estimated entire value of the Number Zero Yard projects will reach $26.8M. Pursuant to the Agreement, SSLJ agreed to pay Han Da $6.3M in the form of a refundable deposit on or no later than March 2, and Han Da agreed to refund the Deposit in full by May 31, with an interest rate of 18% per annum. After Han Da receives the deposit, it will provide to the company real estate assets of equivalent value to the deposit to ensure the successful commencement of the cooperation.

09:19 EDT LiqTech receives $440,000 DPF order from Chinese customer - LiqTech is pleased to announce that the company has received a $440,000 order for the company's Diesel Particulate Filters from a Chinese customer. The order is expected to be delivered in the second quarter of 2018.

09:16 EDT Wendy's says sees FY18 North America net new store growth about 1% - Says looking to add more delivery partners in 2018.

09:13 EDT CommScope, Clearfield agree to settle patent infringement suit - CommScope (COMM) and Clearfield (CLFD) have agreed to terms of a settlement that would resolve the patent infringement lawsuit CommScope filed against Clearfield in January 2017. In the suit, CommScope claimed infringement of 13 patents relating to CommScope fiber-to-the-X innovations by certain features of specific models of Clearfield's cabinet, splitter, and terminal products. Clearfield responded with affirmative defenses and filed inter partes reviews with the US Patent and Trademark Office relating to some of the asserted patents. As part of the settlement, the parties will jointly dismiss the litigation and withdraw the inter-partes reviews. In addition, Clearfield has moved to new design solutions in place of the contested products, and will pay CommScope a one-time payment of $850,000.

09:11 EDT IMDb launches first-ever skill for Amazon's Alexa - IMDb announced that it has launched its first voice controlled service with a new Flash Briefing skill for Amazon Alexa. Upon verbal request, the new IMDb Flash Briefing will help fans with Alexa-enabled devices decide what to watch each evening by providing a list of the top five most popular television shows based on IMDb trending data. Updated daily, entertainment fans can access the "IMDb's What's On TV" Alexa Flash Briefing, presented by Paramount Network, seven days a week to help drive their television viewing decisions for that night. The "IMDb's What's On TV" Flash Briefing skill for Alexa will share details of each day's top five trending shows, including airtimes, networks and the IMDb synopsis of the episodes. IMDb uses data from its exclusive TV rankings to determine top trending shows and mini-series based on the actual page views of their tens of millions of US-based monthly unique visitors.

09:09 EDT Land & Buildings urges QTS shareholders to demand evaluation of leadership - Land and Buildings Investment Management issued the a letter to QTS Realty Trust's shareholders, which in part read, "Land & Buildings is a significant shareholder of QTS Realty Trust and believes that QTS's intrinsic value is substantially above the current depressed share price. Data centers continue to trade at high valuations in the private market, and we believe the QTS net asset value is well above the current share price based on both public market M&A as well as comparable private market transactions. QTS has been a perennial underperformer, delivering inferior total shareholder returns to Data Center Peers over several years, including underperforming by nearly 100% since the Company's October 2013 IPO. The stock's 23% drop yesterday following fourth quarter earnings results and 2018 guidance was emblematic of the problems plaguing the Company, as mismanagement and miscommunication overwhelmed excellent data center fundamentals. We believe the root cause of the underperformance falls at the feet of management - specifically Chairman, CEO and Founder Chad Williams. Mr. Williams, who dominates investor presentations and earnings conference calls, has repeatedly overestimated the Company's future operating performance, presided over poor capital allocation decisions and created a misleading outlook for the profitability of QTS, opening the Company up to potential class action claims... The Company's combination of unexpected churn events, uneven leasing, inability to translate excellent industry fundamentals to consistent growth, and messaging failures have been toxic to public investors. Shareholders should demand that the Board of Directors re-evaluate the senior leadership of the Company given the abysmal underperformance. Further, the Company must avail itself of all opportunities to close the massive discount to peers and net asset value, including immediately exploring strategic alternatives."

09:06 EDT Procter & Gamble sees stronger earnings growth in Q4 vs. Q3 - Expects to pay $7.5B in dividends this year. Expects to return $13.5B-$15.5B of value to shareholders this FY. Sees "little to no net benefit" from tax reform for the remaining two quarters of the year. Sees stronger earnings growth in Q4 than Q3. Says facing more difficult commodity comparison in Q3 than Q4. Comments taken from the CAGNY 2018 Conference.

09:05 EDT Apollo affiliated funds, Apeiron Management establish strategic partnership - Funds affiliated with Apollo Global Management announced a strategic partnership with Apeiron Management SpA to focus on investments in Italian corporate credit opportunities. The initiative targets innovative financing solutions for Italian corporate borrowers, and investments in impaired loans, claims, and other credit instruments tied to Italian companies, with the view to capitalizing on the country's strong manufacturing base, ongoing banking reform, and improved bankruptcy legislation. The partnership will focus primarily on stressed and distressed opportunities, insolvency compositions, and non-performing corporate credit in Italy. Capital will be deployed via debt and equity investments in the EUR 5 million to EUR 50 million range, with the capacity to pursue larger transactions opportunistically. To accomplish these goals, Apollo has established Apollo Delos as a dedicated investment platform. Apeiron will work with Apollo in the implementation of its Italian investment strategies for funds managed by Apollo through the Delos platform, and will provide support in the origination, due diligence, structuring, execution and management of transactions.

09:02 EDT Insperity raises quarterly dividend 33% to 20c per share - Insperity announced that its board of directors has approved a 33% increase in its quarterly regular cash dividend from 15c to 20c per share. The cash dividend will be paid on March 22, 2018 to all stockholders of record as of March 8, 2018.

09:00 EDT Ford names Kumar Galhotra to lead North America

08:47 EDT Apellis provides 18-month results of Phase 2 study of APL-2 - Apellis Pharmaceuticals will provide an update with 18-month data on its Phase 2 trial of its complement C3 inhibitor, APL-2, in patients with geographic atrophy associated with age-related macular degeneration. The company previously reported that APL-2 met its primary endpoint of reducing the growth rate of the GA lesion (measured as square root transformation of GA lesion area) compared to sham after 12 months of treatment. APL-2 administered monthly via intravitreal injection showed a 29% (p=0.008) reduction in the rate of GA lesion growth compared to sham after 12 months of treatment. With every other month administration of APL-2, a 20% (p=0.067) reduction was observed. Statistical significance was defined as pless than0.1 for this study. After the 12 month dosing period, subjects were followed for a further six months without treatment. During this period of non-treatment, the GA lesions in the previously treated groups grew at a rate similar to sham. Subjects previously treated with monthly APL-2 showed only a 12% reduction over the six month period compared to sham, while those previously treated with every other month APL-2 showed a 9% reduction compared to sham. Rishi Singh, MD, Staff Surgeon at the Cole Eye Institute at the Cleveland Clinic, said, "The 18-month results of the FILLY trial support the positive effect seen at 12 months. In the FILLY trial, APL-2 significantly reduced the growth of GA, and may for the first time offer these patients hope of preserving their vision. We eagerly anticipate the start of the Phase 3 trials." No changes in the safety profile were observed in the 12-18 month period. Over the full 18-month study period, a total of 26 cases of exudative AMD were reported by the investigators. These were seen more frequently in the APL-2-treated patients (18 in the monthly treatment group, 7 in the every other month treatment group and 1 in the sham control group). No negative impact on visual acuity was observed.

08:39 EDT Hershey's chairman of the board John P. Bilbrey retiring - Hershey's Chairman of the Board of Directors John P. Bilbrey has informed the company that he will retire and will not stand for re-election at the company's 2018 Annual Meeting of Stockholders scheduled for May 2. Bilbrey previously served as President and CEO and was elected to the Hershey Board of Directors in 2011. Bilbrey will continue to serve as chairman of the board for the remainder of his term. Charles Davis, the company's lead independent director will assume the role of chairman following the stockholders meeting in May.

08:36 EDT Iteris announces agreement to distribute TAPCO warning systems in Texas - Iteris announced an exclusive agreement with Traffic & Parking Control, a manufacturer of solar, wireless and eco-friendly intelligent transportation systems products, to distribute its Intelligent Warning Systems products throughout Texas. The deal spans TAPCO's complete offering of IWS solutions, which includes solar-powered and LED-enhanced systems for pedestrian crosswalks, stop sign intersections, work zones, parking facilities and more. TAPCO's popular BlinkerChevron Dynamic Curve Warning System will also be offered as part of the agreement, along with its innovative wrong-way driving prevention solutions.

08:31 EDT Amerseco reports $7.5M GESPC contract with Albermarle County Public Schools - Ameresco announced that the company contracted with Albemarle County Public Schools for a $7.5M Guaranteed Energy Savings Performance Contract to provide energy efficiency and infrastructure upgrades to 22 schools encompassing a total of over 2.2 million square feet of space.

08:16 EDT Fiserv declares two-for-one stock split - Fiserv announced that its Board of Directors declared a two-for-one stock split of Fiserv common stock and a proportionate increase in the number of its authorized shares of common stock. Each shareholder of record at the close of business on March 5, 2018, will receive one additional share for every outstanding share held on the record date. The additional shares are payable on March 19, 2018.

08:10 EDT Hologic signs agreement with University of Minnesota to offer Dexalytics - Hologic has signed an agreement with the University of Minnesota to be the exclusive provider of Dexalytics: TEAMS in North America. The partnership provides the first solution to harness body composition data obtained from dual X-ray absorptiometry scans, compare it to sport- and position-specific standards, and provide actionable information that can help collegiate and professional trainers, coaches and medical staff train better athletes. Financial terms of the agreement were not disclosed.

08:07 EDT Microsoft and Compuverde announce SMB licensing partnership - Microsoft and Compuverde have entered into a license agreement to enable access to Microsoft's Server Message Block, or SMB, file transport technology for Compuverde's software-defined storage solution. By incorporating SMB connectivity with the flexibility of Compuverde's SDS, users are able to offload programs or files from multiple servers across multiple locations simultaneously. This is the companies' first partnership, and the agreement includes access to future generations of SMB.

08:05 EDT Xencor doses first patient in Phase 1 trial of XmAb18087 - Xencor announced that the first patient has been dosed in a Phase 1 clinical trial of XmAb18087, a bispecific antibody for the treatment of neuroendocrine tumors and gastrointestinal stromal tumors. The trial is a multiple ascending dose study to determine the safety and tolerability, pharmacokinetics and immunogenicity, and preliminary anti-tumor activity of weekly intravenous administration of XmAb18087 and to determine the maximally tolerated dose and regimen in patients with advanced NET or GIST.

08:03 EDT Lowe's announces new workforce development initiative, Track to the Trades - Lowe's announced Track to the Trades, a new workforce development initiative that aims to provide innovative career alternatives and financial support for employees to pursue a skilled trade. The program will be supported in partnership with Guild Education, an adult education company. The initiative comes at a time when the skilled trade industry is experiencing a rapidly declining workforce. To begin addressing this critical trade skills gap while also providing employees with a variety of career paths and economic opportunity, Lowe's is offering employees: Upfront tuition funding for trade skill certification; Academic coaching and support; Placement opportunities for full-time pre-apprenticeships in Lowe's nationwide contractor network or continued growth with Lowe's. Beginning March 1, Lowe's will debut Track to the Trades in four cities: Charlotte, Denver, Pittsburgh and Richmond. Following the four-city pilot, the program will be expanded to qualified Lowe's part-time and full-time employee nationwide by the end of 2018. Eligible employees will receive up to $2,500 to gain a certification and serve as a pre-apprentice in carpentry, HVAC, electrical, plumbing or appliance repair careers. Pre-apprenticeships take approximately six to 10 months, and participants will also receive enrollment guidance and a field mentor.

08:01 EDT AtriCure launches AtricClip Flex-V device in the U.S. - AtriCure announced that it has launched the AtriClip FLEX-V Left Atrial Appendage Exclusion System in the United States. The new AtriClip FLEX-V is the first device of the AtriClip family to offer a clip deployment trigger release. The device also offers an open-ended AtriClip design combined with a tip-first closure mechanism to enable easier navigation and placement in cardiac surgeries. This "V" clip technology builds off the AtriClip PRO-V, which was launched in September of 2017 for minimally-invasive surgery applications. The AtriClip FLEX-V received 510 clearance in January of 2018.

07:40 EDT W.P. Carey enters into 18-year triple net lease with Astellas Institute - W. P. Carey has entered into a new triple net lease agreement with the Astellas Institute for Regenerative Medicine for W. P. Carey's 251,000-square-foot office building in Westborough, MA. As part of the new lease, the existing two-story office building will be converted into a state-of-the-art life sciences facility and serve as AIRM's R&D headquarters. AIRM is an indirect wholly-owned subsidiary of Tokyo-based Astellas. The lease will commence in September 2018 and construction will begin shortly thereafter. Construction conversion costs are expected to total more than $90M and will be jointly funded by W. P. Carey and AIRM. An 18-year triple net lease with AIRM will commence in September 2018 after the current tenant vacates the property. W. P. Carey has agreed to fund up to $56M in construction and leasing costs at an attractive incremental yield. The facility is located within the greater Boston area.

07:34 EDT Unit Corp. sets FY18 CapEx budget at $352M - The company said, "The outlook for commodity prices continues to be volatile. We continue to be diligent with our capital expenditure plans to maintain our spending in line with anticipated cash flow plus any proceeds derived from non-core asset sales. Our focus is to continue to grow all three business segments while retaining the financial discipline our shareholders have grown to expect." Unit's 2018 capital expenditures budget is $352M, which represents a 27% increase over 2017, excluding acquisitions. The capital expenditures plan by segment is: $272M for the oil and natural gas segment, $47M for the contract drilling segment, and $32 million for the midstream segment, representing an increase of 26%, 30% and 44%, respectively, over 2017. The budget for the year includes no costs for potential acquisitions and is based on prices, after applying differentials and hedges, averaging $53.19 per barrel for oil, $22.18 per barrel for NGLs, and $2.16 per Mcf for natural gas. As always, Unit's capital budget is subject to periodic review based on prevailing conditions. In 2017, year over year production in Unit's oil and natural gas segment declined 7%; however, in each of the last three quarters of 2017 production grew sequentially. It is anticipated that 2018 production should grow to 17.1 to 17.4 MMBoe, or 7% to 9% year over year from 2017.

07:25 EDT Gildan Activewear raises quarterly dividend by 20% to 11.2c per share - The board has approved a 20% increase in the amount of the current quarterly dividend and has declared a cash dividend of 11.2c per share, payable on April 2, 2018 to shareholders of record on March 8, 2018.

07:22 EDT Wayfair sees long-term gross margin 25%-27%, adjusted EBITDA 8%-10% - In slides being presented on its Q4 earnings conference call, Wayfair provided long-term guidance, including gross margin of 25%-27% and adjusted EBITDA of 8%-10%. Strategic priorities include pursuing acquisitions, and investing in and growing the international business.

07:19 EDT Chesapeake up 6.5% after Q4 earnings report - In pre-market trading, Chesapeake shares are up 17c, or 6.46%, to $2.80.

07:15 EDT Walmart to launch redesigned web pages for home shopping - Anthony Soohoo, SVP and group general manager, home, Walmart U.S. e-commerce, said in a post, "Walmart's mission is to be the destination for customers no matter how they want to shop or what they want to shop for. And, as a mass retailer, we know that customers shop differently across categories. Some categories are more transactional, like groceries and consumables, while others are more inspirational, like apparel and home. Today, we're doubling down on the latter and unveiling a new digital shopping experience aligned with how customers naturally shop for home products. As the head of Home for Walmart U.S. eCommerce, and admittedly design-obsessed, I'm personally excited about the changes we're making to help our customers shop the high-quality, on-trend and, of course, affordable home assortment we offer on Walmart.com....With this launch, we're making it faster, easier and more inspiring for customers to discover the best of our assortment no matter their personal style. Here's what we're introducing: A Home destination page that features curated collections guided by design trends and in-house stylists, Nine shop-by-style options, including modern, mid-century, traditional, glam, industrial, bohemian, farmhouse, transitional and Scandinavian (my personal favorite is a combination of modern and mid-century),Editorial-style imagery and design tips that will enable customers to discover different styles and how to pull together a complete look. The experience will roll out over the coming weeks and will offer the first glimpse of our broader Walmart.com redesign, which will launch later this year." Reference Link

07:13 EDT Cogent increases quarterly dividend 4.2% to 50c per share - Cogent approved a regular quarterly dividend of 50c per common share payable on March 26 to shareholders of record on March 9. This Q1 regular dividend represents a 4.2% increase of 2c per share from the Q4 regular dividend of 48c per share.

07:10 EDT Visa launches CyberSource Token Management Service globally - Visa introduced Token Management Service, a solution designed to unify management and secure customer payment data. Token Management Service enables an integrated view of payment preferences and behaviors across a merchant's commerce platforms, processing environments, geographies, payment types and card brands.Token Management Service helps enable merchants to unify payment token implementation in order to provide simple, innovative and seamless purchasing experiences. For example: Customers can buy goods online, then pick them up in store, or make a purchase online and return items in-store. Merchants can augment their customer engagement strategy with tailored loyalty programs and promotions to suit customer preferences and behavior, ultimately providing impactful customer experiences. Merchants can deploy Token Management Service with limited changes to their current IT infrastructure. When using the service, payment information is stored in secure Visa data centers. Merchants can benefit directly by reducing costs associated with compliance and minimizing security threats associated with keeping sensitive data on their own networks.

07:06 EDT BioTime names former WebMD CEO Cavan Redmond to board - BioTime (BTX) announced the appointment of Cavan Redmond as an independent member of the Board of Directors of BioTime. Redmond will be the Chairman of the newly created Corporate Development Committee, which was formed to advise the Board of Directors and management of BioTime regarding strategic partnership opportunities, mergers and acquisitions, and corporate structures to deliver long-term value to the company's stakeholders. Previously, Redmond held the position of CEO and member of the Board at WebMD Health, which was acquired in 2017 by KKR's (KKR) Internet Brands.

07:05 EDT Stepan raises quarterly dividend by 2c per share to 22.5c per share - On February 21, the board of Stepan Company declared a quarterly cash dividend on its common stock of 22.5c per share. The dividend is payable on March 15, 2018, to common stockholders of record on March 5, 2018. The company increased its quarterly cash dividend in the fourth quarter of 2017 by 2c per share.

07:04 EDT Chesapeake sees 2018 capital expenditures down 12% at midpoint of range - Chesapeake's total capital investments were approximately $2.458B during the 2017 full year, compared to approximately $1.697B in the 2016 full year. Projected 2018 capital expenditures program is approximately $1.975B-$2.375B, down 12% compared to 2017 levels, using the midpoint.

07:02 EDT Quanta Services acquires Northwest Lineman College - Quanta Services announced that in January 2018 it completed the acquisition of Northwest Lineman College, or NLC, the industry-leading educational and training institution serving the electric power industry. NLC is the largest educational and training organization that trains across the full lifespan of a line worker's career, from pre-apprenticeship through experienced lineman. NLC was founded in 1993, is based in Boise, Idaho, with additional campuses in California, Florida and Texas, and trained approximately 5,600 people in 2017. NLC's existing management team will remain in place, with founder Aaron Howell continuing in his leadership role as President of NLC.

07:01 EDT Accenture selected by Virginia's Department of Medical Assistance Services - Accenture has been selected by the Commonwealth of Virginia's Department of Medical Assistance Services to implement and operate core systems for Medicaid claims processing and operations. The contract will run for approximately six years, with operations and plan management components totaling $138M. Two modules of Accenture's Public Health Platform will be implemented as part of Virginia's new Medicaid Enterprise System.

06:59 EDT EU commercial vehicle registrations up 7.9% in January - In January, the EU market for new commercial vehicles started the year positively, after showing a decline in December 2017. Demand increased by 7.9% in the first month of the year, sustained by all commercial vehicle segments and with registrations totaling 187,811 units, the European Automobile Manufacturers Association reported. The Italian market posted the strongest decline, with registrations falling by 17.4% in December. The EU's five largest markets all posted gains in January, except for the United Kingdom, where registrations fell by 5.8%. Publicly traded truck makers and suppliers include Daimler AG (DDAIF), Paccar (PCAR), CNH Industrial (CNHI), Navistar (NAV), Cummins (CMI) and Allison Transmission (ALSN).

06:57 EDT Newmont Mining sees attributable gold production 4.9M-5.4M tonnes in 2018, 2019 - Attributable gold production is expected to be between 4.9 and 5.4 million ounces in 2018 and 2019, mainly driven by Full Potential mine plan, throughput and recovery improvements. Longer term production is expected to remain stable at between 4.6 and 5.1 million ounces per year through 2022 excluding development projects which have yet to be approved.

06:44 EDT KLLM/FFE moves payments business to EFS - EFS, a WEX company, announced that Frozen Food Express and its parent company, KLLM Transport Services, have moved their payments business to EFS. After 30 years with another provider, KLLM/FFE, headquartered in Richland, Mississippi, chose to begin doing business with EFS because of the company's forward-thinking, collaborative approach and the commitment it demonstrated to help KLLM/FFE move its business-and its fleet-forward.

06:40 EDT Newell Brands reaffirms FY18 outlook - The company reaffirmed its full-year 2018 outlook previously provided on its fourth quarter earnings call and earnings release on February 16.

06:38 EDT Sage Therapeutics sees cash and equivalents sufficient into 2020 - Sage anticipates that its existing cash, cash equivalents and marketable securities, and estimated brexanolone product sales, if the product is approved, will enable Sage to fund its operating expenses and capital expenditure requirements into 2020. Sage expects that its operating expenses will increase year over year in 2018 to support continued pipeline advancement and potential product commercialization of brexanolone in PPD.

06:36 EDT Hormel Foods to raise starting wage to $13/hour by FY18-end, $14 by FY20-end - Hormel Foods announced the impact of tax reform: "Tax reform will have a clear benefit to all Hormel Foods stakeholders - our shareholders, our employees, and the communities in which we operate. The ongoing cash tax benefit will provide additional funds, allowing us to accelerate the growth of our business. We intend to make additional strategic, disciplined capital investments into innovation, technology, and automation which will improve our operating efficiencies and enhance margins. We also plan to invest a portion of the tax benefit back into our business to drive incremental sales and earnings growth. Our priorities are to invest in growing key domestic brands such as Jennie-O, Hormel Pepperoni, Skippy, Muscle Milk, and our new plant-based protein brand Evolve. In addition to awarding our over 20,000 employees stock options, we will raise our starting wage for all employees to $13 per hour by the end of fiscal 2018 and to $14 per hour by the end of fiscal 2020. We also pledged an additional $25 million in donations over the next five years as supporting our communities through product and monetary donations is important to us. Our unwavering commitment to returning cash back to our shareholders in the form of consistent dividend increases and share buybacks will not change. With 52 consecutive years of dividend increases, we are an S&P 500 Dividend Aristocrat and we intend to continue that track record." The passage of The Tax Cuts and Jobs Act in December 2017 lowered the company's long-term effective tax rate. In the first quarter, the company recorded a one-time non-cash tax benefit of $68 million related to revaluing deferred tax liabilities and a $5 million charge related to mandatory repatriation tax. The one-time tax events and reduction in the federal statutory tax rate were the main drivers of the company's first quarter effective tax rate of 0.6 percent versus 33.7 percent last year. For fiscal 2018, the company expects an effective tax rate of between 17.5 to 20.5 percent compared to original guidance of 32.3 to 33.3 percent. The change is due primarily to the decrease in the statutory tax rate, one-time discrete tax events, and the adoption of new accounting standards related to stock compensation. The full year cash flow benefit is expected to be between $100 - $140 million. For Fiscal 2019 and beyond, the company expects an effective tax rate of between 21.5 to 24.5 percent.

06:29 EDT Barclays announces restoration of dividend to 6.5p for 2018

06:25 EDT Emerald Expositions Events sees FY18 Adjusted EBITDA $158M-$162M - Free Cash Flow in the range of $110M-$120M.

06:16 EDT Dril-Quip awarded contract for Repsol's Ca Rong Do project - Dril-Quip announced that Dril-Quip Asia Pacific Pte Ltd, its wholly-owned subsidiary based in Singapore, has been awarded a contract to supply top tensioned riser systems and related services for the development of the Ca Rong Do Project located offshore Vietnam operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam. Dril-Quip will provide a drilling TTR system and multiple TTR systems for the production, gas injection and water injection wells. The systems will include tie back connectors, tapered stress joints, riser joints, riser connectors, keel joints, tensioner joints, spool joints, flexible jumpers, surface wellheads, surface trees, control umbilicals and tensioner systems.

06:10 EDT Orbital ATK reports total backlog of $16B

06:07 EDT Brookdale appoints CFO Lucinda Baier as CEO, strategic review completed - Brookdale Senior Living announced that its board: Formally concluded the strategic review process; Appointed CFO Lucinda Baier as President and CEO and as a Director to succeed T. Andrew Smith; and Elected Lee S. Wielansky as Non-Executive Chairman to succeed Executive Chairman Daniel A. Decker, who has chosen to retire from the board now that the strategic review process has been concluded.

05:55 EDT Applied DNA Sciences awarded additional U.S. patent for fiberTyping technology - Applied DNA Sciences announced the receipt of a Notice of Allowance for its U.S. Patent Application No. 14/191,947 entitled Methods for Genetic Analysis of Textiles Made of Gossypium barbadense and Gossypium hirsutum Cotton. The allowed patent application, which will issue as a U.S. patent in the next few months, significantly bolsters the Company's patent protection for its fiberTyping technology.

05:49 EDT Raymond James reports January assets under administration of $750.2B - Raymond James last night reported "record" client assets under administration of $750.2B for January, which is up 21% compared to last year and 3% compared to December. Total securities commissions and fees of $379M increased 13% over last year and 2% over December 2017. "The growth was primarily driven by assets in fee-based accounts in the Private Client Group segment, as both institutional equity and fixed income commissions declined in January 2018," the company explained.

05:47 EDT Tesla CEO Elon Musk to depart OpenAI board to avoid conflict of interest - OpenAI says in a blog post, "We're excited to welcome the following new donors to OpenAI: Jed McCaleb, Gabe Newell, Michael Seibel, Jaan Tallinn, and Ashton Eaton and Brianne Theisen-Eaton. Reid Hoffman is significantly increasing his contribution. Pieter Abbeel -- having completed his sabbatical with us --, Julia Galef, and Maran Nelson are becoming advisors to OpenAI. Additionally, Elon Musk will depart the OpenAI Board but will continue to donate and advise the organization. As Tesla continues to become more focused on AI, this will eliminate a potential future conflict for Elon."

05:42 EDT GW Pharmaceuticals to continue clinical initiatives within autism - When announcing last night that a Phase 2a proof of concept study of a pipeline compound GWP42006 in adult patients with focal seizures did not meet its primary endpoint, GW Pharmaceuticals said it will continue to advance various clinical initiatives within the field of autism spectrum disorders. Further, GW will continue to explore potential development opportunities for GWP42006 in the field of epilepsy. The company said, "GW has been evaluating GWP42006 in both general and syndromic pre-clinical models of ASD yielding promising signals on cognitive and social endpoints as well as repetitive behavior. These include both genetically determined abnormalities of neurobehavioral, and chemically-induced models, and include Rett syndrome and Fragile X among others. GW will continue to advance various clinical initiatives within the field of ASD, including a physician-led expanded access IND in 10 patients with autism as well as both open-label and Phase 2 placebo-controlled trials in Rett syndrome, a condition for which GWP42006 has received Orphan Drug Designation from the FDA. Open label data from the expanded access IND are expected later in 2018."

05:31 EDT Novartis announces publication of CLAIM study in Lancet Respiratory Medicine - Novartis announced the publication of the CLAIM study in the Lancet Respiratory Medicine, which demonstrated that treatment once-daily Ultibro Breezhaler significantly improved lung and cardiac function, when compared to placebo, in chronic obstructive pulmonary disease, or COPD, patients with lung hyperinflation. Many people living with COPD are at increased risk of death and disability due to comorbid cardiovascular disease.