Stockwinners Market Radar for March 26, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

21:10 EDT Flex to Divest Multek's China Operations to Multi-Fineline Electronix for $273M - Flex has entered into an agreement with Multi-Fineline Electronix Inc, a wholly-owned subsidiary of Suzhou Dongshan Precision Manufacturing Co., Ltd, to divest the China-based operations of the Flex subsidiary, Multek. According to the terms of the agreement, upon closing, MFLEX will acquire all of the equity interests in the non-US.. subsidiaries of Flex that operate the China-based business of Multek, for proceeds of approximately $273 million, net of cash. Multek will continue to operate with its current name and location in Zhuhai, China. The US-based Multek operation will remain a wholly owned Flex subsidiary. The transaction is expected to close in the third quarter of calendar year 2018 and is subject to customary closing conditions, including regulatory approvals.

21:07 EDT Tallgrass Energy GP announces agreemen to acquire Tallgrass Energy Partners - Tallgrass Energy GP, LP (TEGP) and Tallgrass Energy Partners, LP (TEP) announced the execution of a definitive agreement pursuant to which TEGP will acquire the approximately 47.6 million TEP common units held by the public in a taxable stock-for-unit merger transaction at a ratio of 2.0 TEGP Class A shares for each outstanding TEP common unit. In the proposed transaction, TEGP will issue an aggregate of approximately 95.2 million Class A shares to former TEP common unitholders, representing approximately 62.1% of the outstanding Class A shares of TEGP following the transaction. The revolving credit facilities of TEP and Tallgrass Equity, and the senior notes of TEP are expected to remain outstanding following the merger. Assuming the merger closes on or before the record date for the second quarter 2018 dividend, former TEP unitholders holding TEGP Class A shares on the record date would be entitled to receive the second quarter 2018 dividend on the TEGP Class A shares they receive in the merger in accordance with TEGP's agreement of limited partnership.

20:06 EDT Red Hat CEO says Q4 saw strong large deal growth on cross-selling, solid demand - In a post-earnings conference call, Red Had CEO Jim Whitehurst also said: "For the quarter, we closed a total of 169 deals over $1 million and that was up approximately 50% year-over-year. Within these deals, 26 were greater than $5 million, which is a record for any quarter.... Q4 marked our 64th consecutive quarter of total revenue growth... Our annual billings proxy exceeded the $3 billion milestone, while the fourth quarter marked the first time our billings proxy exceeded $1 billion in a quarter.... Strong sales execution led to our third straight quarter of 20% or better revenue growth with 21% total revenue growth for the year".

18:49 EDT Schlumberger CEO acquires 10,000 common shares - In a regulatory filing, Schlumberger CEO Paal Kibsgaard disclosed the purchase of 10,000 common shares of the company at a price of $64.68 per share.

18:36 EDT Nevsun reports drill results from Lower Zone Copper-Gold Porphyry at Timok - Nevsun Resources announced new assay results from the recently completed $20M exploration drill program of the Lower Zone at the Timok copper-gold project in Serbia. To date 84 drill holes have been drilled within the Lower Zone footprint, of which 78 drill holes comprising approximately 90,571 meters have intersected the deposit or its margins. The geometry of the Lower Zone remains to be fully defined, however current dimensions of the mineralized zone are approximately 2,000 metres long by 1,100 metres wide by 1,400 metres high. The Lower Zone remains open to extension to the North and at depth. Mineralization starts at approximately 700 metres below surface and has been drill tested to a depth of 2,268 metres. Detailed drill results, sections and a plan map of drill hole locations are attached to this news release. Holes are near vertical and intersecting a mineralized zone which is plunging to the northwest at approximately 50 degrees. Nevsun CEO, Peter Kukielski, commented, "We are truly excited by the enormous potential emerging from our work on the Timok Lower Zone. These assays are from the $20 million Lower Zone drill program we have been working on within our joint venture with Freeport-McMoRan Exploration Corporation. These results continue to demonstrate the potential world class nature of the Lower Zone mineralization. Work is now focussed on Lower Zone resource estimation for the Serbian permitting process and release of a NI43-101 compliant resource statement in mid-2018".

18:07 EDT Brookfield Property to acquire all shares of GGP it doesn't own

17:53 EDT Bitcoin falls after Twitter confirms ban on most cryptocurrency advertising - Earlier today, Twitter said in a statement provided to Reuters that it will launch a policy this week that bans most advertising of cryptocurrencies on its platform. Twitter will prohibit advertising of initial coin offerings as well as advertisements that promote token sales and crypto wallet services.

17:34 EDT U.S Supreme Court will not hear Crane 's Missouri appeal - The U.S. Supreme Court announced that it will not consider Crane's appeal of the Missouri Court of Appeals' ruling on Crane Co. v. Poage, Jeanette G. Crane appealed the Missouri appellate courts' decision to uphold the original $11.5M jury verdict in favor of Jeanette Poage, the widow of James Poage, who died of mesothelioma in 2012. At trial, the jury awarded $1.5M in compensatory damages and an additional $10M for punitive damages.

17:20 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Red Hat (RHT), up 5%. ALSO HIGHER: AnaptysBio (ANAB), up 8.5% after its peanut allergy trial showed improved tolerance... SM Energy (SM), up 2.3% after it completed the Powder River sale and said it expects Q1 production at the upper end of its guidance. DOWN AFTER EARNINGS: ProPetro (PUMP), down 5.7%. ALSO LOWER: Overstock.com (OSTK), down 9.5% after it announced an offering of 4M shares of common stock... Gladstone Land (LAND), down 6.1% after it announced a common stock offering... Bright Horizons (BFAM), down 1.6% after it filed to sell 4.6M shares of common stock for holders.

17:06 EDT Layne Christensen comments on letter from Cetus Capital - Layne Christensen Company (LAYN) commented on a recently filed letter by Cetus Capital relating to Layne's pending merger with Granite Construction (GVA). "The company welcomes constructive input from its stockholders with the common goal of maximizing stockholder value. However, the Layne board of directors believes Cetus' analysis results in inaccurate and misleading conclusions. The company recommends that stockholders review the definitive proxy statement to be filed with the SEC, which will include additional information addressing Cetus' commentary and which is expected to be filed in the second quarter of 2018... The board, in consultation with the company's independent financial and legal advisors, conducted a thorough financial analysis of the company's business and explored a variety of strategic alternatives focusing on growing its business and developing value for its stockholders. In connection with this process, Layne considered its prospects on a standalone basis and evaluated potential strategic transactions that included raising growth capital from new and existing sources of capital and potential acquisition, sale and expansion opportunities relating to one or more divisions of Layne's business. Following the completion of the review process, the board unanimously concluded that the transaction with Granite offered a more favorable opportunity for Layne's stockholders than the alternatives considered. The board strongly believes that the proposed merger with Granite is in the best interest of Layne's stockholders and that it will create the greatest value for investors over the long-term. As a result of the proposed merger, Layne stockholders will share in the upside of a combined company with substantially greater financial resources to invest in growth initiatives and a more diversified, expanded national platform of businesses that is expected to be positioned as a leader across both the transportation and water infrastructure markets."

17:01 EDT AnaptysBio jumps after peanut allergy trial shows improved tolerance - Shares of players in the allergy treatment space were in focus after AnaptysBio (ANAB) announced trial data that showed improved peanut tolerance. WHAT'S NEW: After the market close, AnaptysBio announced top-line proof-of-concept data from an interim analysis of an ongoing Phase 2a trial in adult patients with peanut allergy. According to the data, 46% of patients exhibiting "moderate-to-severe" symptoms during a baseline oral food challenge at enrollment improved peanut tolerance to cumulative 500mg at day 13 after one dose of ANB020 compared to 0% dosed with placebo. AnaptysBio noted that allergic symptoms that usually overlap with peanut allergy were observed in four of five patients dosed with placebo but just one of 15 ANB020 dosed patients. The company added that ANB020 was "generally well-tolerated" and all patients remain enrolled in the trial. WHAT'S NOTABLE: After the data were released, STAT's Adam Feuerstein tweeted that AnaptysBio has a "strange definition" of moderate to severe peanut allergy. "And sure, $ANAB, just go ahead and exclude patients from your analysis when including them would skew your response rate downward," Feuerstein tweeted. PRICE ACTION: In after hours trading, AnaptysBio shares are up 8.1%. Meanwhile, shares of Aimmune Therapeutics (AIMT), another company developing a peanut allergy treatment, rose marginally in post-market trading. DBV Technologies (DBVT) also is developing a peanut allergy treatment.

16:50 EDT Mid-Con Energy names Philip Houchin as CFO, effective March 30 - Mid-Con Energy Partners is pleased to announce the appointment of Philip Houchin as CFO of Mid-Con Energy GP, LLC, the general partner of the Partnership, effective March 30. Prior to joining Mid-Con Energy, Houchin spent 18 years in the commercial banking industry. Most recently, Houchin was Executive Vice President and Chief Lending Officer of Patriot Bank.

16:36 EDT Fortis announces at-the-market equity program of up to C$500M - Fortis announced that it has established an at-the-market equity program, or ATM Program, that allows the corporation to issue up to C$500M, or its U.S. dollar equivalent, of common shares from treasury to the public from time to time, at the corporation's discretion. Any common shares sold in the ATM Program will be sold through the Toronto Stock Exchange, the New York Stock Exchange or any other marketplace on which the common shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale.

16:22 EDT Red Hat reports FY18 total backlog over $3.4B, up 24% from prior year - The portion of total backlog to be billed in the future not reflected in our financial statements was in excess of $775 million as of February 28, 2018, compared with the ending balance in excess of $650 million reported for fiscal year 2017. The portion of total backlog to be billed during fiscal year 2019 was in excess of $450 million as of February 28, 2018, compared with in excess of $330 million for the fiscal year ended February 28, 2017.

16:20 EDT Red Hat rises 5.8% afterhours following Q4 earnings and FY19 outlook

16:16 EDT Columbus McKinnon raises quarterly dividend 1c to 5c per share - The board of directors of Columbus McKinnon declared a 5c per common share cash dividend, up 1c per common share from its previous quarterly dividend rate of 4c. The dividend will be payable on or about May 14, 2018 to shareholders of record at the close of business on May 4, 2018.

16:09 EDT Tesaro data from TOPACIO trial shows 'compelling' Zejula activity from combo - Tesaro anounced presentation of maturing data from the TOPACIO trial of niraparib in combination with an anti-PD-1 monoclonal antibody, KEYTRUDA during a plenary session today at the 2018 Society for Gynecologic Oncology Annual Meeting on Women's Cancer in New Orleans, Louisiana. In addition, retrospective data analyses of the Phase 3 ENGOT-OV16/NOVA study that could potentially reduce Grade 3/4 thrombocytopenia in niraparib treated patients was presented in the plenary session on Sunday, March 25. "Patients with platinum-resistant or platinum-refractory ovarian cancer have limited treatment options available to them. Approximately 10,000 women in each of the US and EU begin treatment for platinum-resistant or refractory ovarian cancer each year," said Mary Lynne Hedley, Ph.D., President and COO of TESARO. "Preliminary results from TOPACIO suggest the combination of niraparib and an anti-PD-1 antibody could provide meaningful clinical benefit to these patients, regardless of biomarker status. Planning of a registration study is underway to support approval of ZEJULA and TSR-042 combination therapy for these patients. TSR-042 is TESARO's anti-PD-1 antibody, which is currently in a registration study for MSI-H tumors.""These data provide a compelling initial step in our ovarian cancer development strategy which is progressing from monotherapy ZEJULA utilized in PRIMA, NOVA and QUADRA to doublet and triplet combination approaches with anti-PD-1 antibodies and bevacizumab," said Marty Huber, M.D., Senior Vice President and Chief Medical Officer of TESARO. "Our ultimate goal is to maximize the benefit to women across the full spectrum of ovarian cancer"

16:07 EDT Quotient CEO Paul Cowan retiring - Quotient Limited announced the retirement of Paul Cowan as its chairman and CEO. Franz Walt, who recently retired as the President of Siemens Healthineers, Laboratory Diagnostics, and is a member of Quotient's board, has been appointed as interim CEO; Heino von Prondzynski, former CEO of Roche Diagnostics, Quotient's lead independent director, has been appointed as chairman.

16:05 EDT NBT Bancorp increases quarterly dividend 8.7% - The board of NBT Bancorp approved a Q2 cash dividend of 25c per share at a meeting held March 26. The dividend, which represents a 2c or 8.7% increase, will be paid on June 15 to shareholders of record as of June 1.

15:57 EDT Willbros Group trading resumes

14:58 EDT Travelport notes Elliott stake, says all shareholders' contributions considered - Travelport Worldwide notes the announcement today by Elliott Associates that it has taken an 11.8% economic interest in the company. "Travelport has regular and open dialogue with its shareholders and, in this context, considers contributions made by all shareholders about the development of Travelport's strategy," the company stated.

14:38 EDT Lionsgate Class A shares rise to session highs in afternoon trading - At time of writing, Class A shares of Lionsgate are up $1.34, or 5.3%, to $26.73.

14:00 EDT City of London responds to The China Fund's annual meeting postponement - City of London Investment Management Company issued a statement in response to The China Fund announcement that it postponed the 2018 annual meeting of stockholders from March 27, 2018 to April 26, 2018. City of London represents clients who are the beneficial owners of approximately 27.2% of the outstanding shares of common stock of The China Fund. The company said, "We are disappointed that the CHN Board continues to exhibit self-serving behavior, highlighted by its decision to postpone the annual meeting to focus more on entrenchment than allowing stockholders to act as owners of the Fund. We believe that the results of the annual meeting, which was scheduled for tomorrow, were clear to the Board at the time it decided to postpone the meeting, and the postponement is a disturbing attempt to improperly influence the outcome of the election of directors and proposal to terminate the investment adviser. We believe that a quorum would have been present at the annual meeting, and that our two nominees have received overwhelming support from stockholders in opposition to Joe Rogers and Richard Shore, the two incumbent and entrenched Directors. This Board also denied its largest stockholder the right to directly contact many of the Fund's stockholders with the same shareholder list they themselves have been using. We urge the Board to add our two director nominees, Julian Reid and Rich Silver, to the Board immediately and for the two incumbent directors, Joe Rogers and Richard Shore, to resign. We encourage all China Fund stockholders to vote their shares on the BLUE proxy card. If stockholders have already voted China Fund's white proxy card, they can still vote the BLUE card. Every vote counts. China Fund stockholders have an opportunity to effect meaningful change by rejecting the China Fund Board's affront to stockholder rights."

13:26 EDT Ekso Bionics jumps after saying 'exciting news' is forthcoming - Ekso Bionics said via Twitter, "We have exciting news on its way! Stay tuned to find out the latest at Ekso Bionics... #Stroke" The stock in afternoon trading is up 8%, or 13c, to $1.67.

13:12 EDT Kinross Gold announces end of SEC investigation of West Africa operations - Kinross Gold Corporation announced the end of the previously disclosed SEC regulatory investigation of its West African mining operations. The company said, "Kinross is pleased to resolve this matter through an agreed-upon cease and desist order and that the SEC's investigation has been concluded, as expected, without any material adverse effect on the company's financial position or business operations. The cease and desist order with the SEC makes no findings of bribery by the company but is instead premised on allegations of various deficiencies in Kinross' internal accounting controls and practices. Kinross cooperated fully with the SEC throughout the investigation and has taken steps to improve and strengthen its compliance program and internal accounting controls and practices." On November 7, 2017, the U.S. Department of Justice also notified Kinross that it closed its investigation, declining to pursue further the matter against the company and noting the company's full cooperation during the inquiry. Both investigations related to allegations of improper payments made to government officials and certain internal control deficiencies at the company's West African mining operations, which Kinross first became aware of in August 2013. The company immediately commenced an internal investigation into the allegations in accordance with its Whistleblower Policy. In March 2014, the SEC commenced an investigation seeking information and documents relating to these allegations, and in December 2014, the DOJ commenced a similar investigation. On October 2, 2015, the company publicly disclosed the SEC and DOJ investigations. The company entered into the cease and desist order with the SEC without admitting or denying the findings of the order to resolve the investigation. As part of the settlement, the company has agreed to pay $950,000 to the SEC as a civil penalty and report to the SEC semi-annually for a one-year term on the status of its West African compliance measures. The order is final and not conditional on court approval.

13:02 EDT Kinross Gold settles FCPA violations with SEC for $950,000 - The Securities and Exchange Commission announced a settled action against Kinross Gold for Foreign Corrupt Practices Act violations arising from the company's "repeated failure to implement adequate accounting controls of two African subsidiaries." According to the SEC's order instituting a settled administrative proceeding, Kinross Gold acquired the African subsidiaries in a $7.1B transaction in 2010, understanding that the subsidiaries "lacked anti-corruption compliance programs and internal accounting controls. It took Kinross Gold almost three years to implement adequate controls, despite multiple internal audits flagging widespread deficiencies," the agency says in statement. The SEC's order finds that Kinross Gold violated books and records and internal accounting controls provisions of the federal securities laws. Without admitting or denying the findings, Kinross agreed to a cease-and-desist order, a penalty of $950,000 and undertakings to report on its remedial steps for a period of one year.

12:59 EDT Common Cause asks DOJ probe whether Cambridge Analytica broke U.S. election law - Private government watchdog group Common Cause sent a letter to U.S. Deputy Attorney General Rod J. Rosenstein requesting the the Department of Justice exercise its authority to investigate whether Cambridge Analytica violated prohibitions on foreign national election-related activities. Cambridge Analytica reportedly harvested private information from more than 50M Facebook users in developing techniques to support President Donald Trump's 2016 election campaign. Common Cause said that, based on "publicly available data and published reports," there is reason to believe that the firm violated federal law prohibition on foreign nationals directly or indirectly participating in the decision-making process of U.S. political committee clients of Cambridge Analytica, including Donald Trump for president, Ted Cruz for president, John Bolton Super PAC and others, regarding expenditures and disbursements for political advertising, research, data anlytics, polling, focus groups, message development, marketing and more. Reference Link

12:13 EDT Biohaven slides as migraine drug studies compared to competitors' - Shares of Biohaven Pharmaceutical (BHVN) are sliding despite the company having announced that two Phase 3 clinical trials for its migraine drug, rimegepant, met their efficacy endpoints. While William Blair analyst Tim Lugo understands the focus on comparing the results with the recent ubrogepant Phase 3 data from competitor Allergan (AGN), he argued that comparisons may be complicated as Biohaven did not allow rescue medications or re-dosing. PHASE 3 CLINICAL TRIALS: Biohaven Pharmaceutical has announced what it called "positive" top-line results from both of its two Phase 3 clinical trials of rimegepant, an oral CGRP receptor antagonist for the acute treatment of migraine. In each trial, rimegepant met the co-primary efficacy endpoints of superiority to placebo, at two hours post-dose, on pain freedom and freedom from the most bothersome symptom. In addition to efficacy observed on the co-primary registrational endpoints, onset of pain relief was observed early after rimegepant treatment with numerical separation evident between 30-45 minutes post-dosing, Biohaven noted. It also said rimegepant was found to be both safe and well-tolerated in the two Phase 3 studies with a safety profile similar to placebo. Biohaven says it is on schedule to submit a New Drug Application for rimegepant in 2019. EFFICACY PROFILE 'APPROVABLE': Following Biohaven's news, Piper Jaffray analyst Charles Duncan said that while the placebo-adjusted difference at 2 hours seen in the Phase 3 studies of Biohaven's rimegepant in acute migraine may be a point of debate among investors, he sees the data as compelling from a single dose in the "real world" setting. Duncan also said he thinks the 2-8 hour response rates support a differentiated profile and noted that rimegepant looks relatively safe and well-tolerated. Further, the analyst told investors that he views the acute efficacy and safety results as an important regulatory hurdle cleared and potentially a driver of prescriber preference in the commercial setting, both within and outside of the CGRP class. Duncan, who contends that rimegepant's efficacy profile appears "approvable and clinically meaningful," sees rimegepant as an over $1B drug. He reiterated an Overweight rating on Biohaven shares. COMPARISONS TO COMPETITORS: Meanwhile, William Blair's Lugo told investors in a research note of his own that he believes Biohaven's Phase 3 data confirmed rimegepant's efficacy and "clean" safety profile. Lugo acknowledged that he understands the focus on comparing the results with the recent ubrogepant Phase 3 data from Allergan, but noted that comparisons are complicated as Biohaven did not allow rescue medications or re-dosing. Given the likely primary care market where these new therapies will be marketed, the analyst views rimegepant's clean safety profile as "impressive" and likely a strong differentiator versus Allergan's drug. He reiterated an Outperform rating on Biohaven shares. Needham analyst Alan Carr also commented on the results, saying that while rimegepant in acute migraine treatment showed a placebo-adjusted impact on pain that was "less impressive" than that of Eli Lilly's (LLY) lasmiditan and Allergan's ubrogepant in their respective phase 3 trials, rimegepant safety data was impressive and the drug appears better tolerated than lasmiditan. The possible rimegepant safety advantage may be a deciding factor for commercial success, the analyst contended. Carr reiterated a Buy rating on Biohaven shares. PRICE ACTION: In early afternoon trading, shares of Biohaven have dropped about 21% to $19.69, while Allergan's stock has slipped almost 2% to $156.82.

12:02 EDT Viacom announces strategic partnership with Trevor Noah's Day Zero Productions - Viacom announced a strategic partnership with Day Zero Productions, an international production and distribution company led by Trevor Noah, host of Comedy Central's "The Daily Show with Trevor Noah." Under the long-term deal, Viacom will have exclusive "first look" rights on all projects developed by Noah and Day Zero Productions in all media, including television, feature films, digital and short-form video content. Viacom will also make an investment in Day Zero. As part of the expanded relationship, Paramount Players will adapt as a feature film Noah's memoir, "Born a Crime: Stories from a South African Childhood." Financial terms of the transaction were not disclosed.

11:46 EDT Facebook drops after FTC confirms probe of data practices - Shares of Facebook (FB) dropped in late morning trading after the Federal Trade Commission announced it is investigating the company's data practices in the wake of the Cambridge Analytica leak of 50 million users' information. FTC CONFIRMS PROBE: The FTC this morning confirmed that it is probing Facebook's data practices. In a statement, the agency said it "takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming that it has an open non-public investigation into these practices." Citing a person familiar with the matter, Bloomberg's Sara Forden said last week that the FTC was investigating Facebook over whether it violated terms of a consent decree over its use of personal data. The investigation involves whether the social media giant allowed Cambridge Analytica to receive some user data in violation of its policies, the source told Forden. WHAT'S NOTABLE: According to reports, Cambridge Analytica harvested private information from more than 50M users in developing techniques to support President Donald Trump's 2016 election campaign. The data analytics company has since been suspended by the social media platform, with Facebook hiring a digital forensics firm, Stroz Friedberg, to conduct a comprehensive audit of Cambridge Analytica. The data analytics company has agreed to comply and afford the company complete access to their servers and systems. On Thursday, following a statement by Facebook CEO Mark Zuckerberg addressing concerns and announcing additional measures to ensure user privacy, House Energy and Commerce Committee Chairman Greg Walden and Ranking Member Frank Pallone released a statement calling on Zuckerberg to testify before the committee. New York State Attorney General Eric Schneiderman announced last week that he and Massachusetts Attorney General Maura Healey had sent a demand letter to Facebook as part of a joint probe stemming from the fallout, and Connecticut Attorney General George Jepsen also announced his own probe. Additionally, the U.K.'s information and data privacy regulator is probing whether Facebook responded "robustly," NBC News reported, citing Information Commissioner Elizabeth Denham. PRICE ACTION: Facebook is off earlier lows, but is still down about 3% to $154.61 in late morning trading.

11:21 EDT Carpenter Technology to invest $100M in soft magnetics capabilites, equipment - Carpenter Technology Corporation announced it will invest $100M in soft magnetics capabilities and a new, precision strip hot rolling mill in its Reading, PA facility to help meet increasing demand for aerospace, consumer electronics and electric vehicle manufacturing customers. Carpenter estimates recent legislation will reduce cash taxes by approximately $90M-$100M over the next five years and will use the savings to increase its base level of capital investment in U.S. manufacturing operations over the same timeframe. The new mill will increase overall capacity and offer greater flexibility in processing alloys for highly specialized soft magnetics applications in the aerospace, consumer electronics and electric vehicle markets.

11:03 EDT Citron sees Facebook ties taking Shopfiy shares back to $100 'immediately' - Shares of Shopify (SHOP) are moving lower after Citron Research posted a research report on its website describing the company's "unholy alliance" with Facebook (FB). The embroiled social media giant has "shared your personal information with Shopify sponsored/supported opportunists," Citron writes. The short-selling research firm, which has previously expressed cautious views on Shopify amid the stock's rise, sees the shares trading "immediately" back to $100. Shopify in late morning trading is down $3.64, or 2.6%, to $138.19. Reference Link

10:44 EDT General Electric shares down 1.6%, trading below $13 - Shares of General Electric have dropped below $13. The stock in morning trading is down 21c, or 1.6%, to $12.86.

10:34 EDT Analyst sees path through cloud for trillion dollar valuation of Microsoft - In a research note to investors, Morgan Stanley analyst Keith Weiss argued that "strong" positioning for ramping public cloud adoption, large distribution channels and installed customer base, and improving margins support a path to $50B in EBIT and a $1T market cap for Microsoft (MSFT). PATH TO TRILLION DOLLAR MARKET CAP: A Public Cloud solution spanning from core Infrastructure Services to compelling Platform-as-a-Service capabilities and up the stack to the application layer differentiates the Microsoft Public Cloud offering from cloud giants Amazon (AMZN) and Google (GOOG; GOOGL), Morgan Stanley's Weiss told investors in a research note this morning. The analyst believes this combination of Public Cloud assets paired with Microsoft's large existing customer base, developer base, expansive distribution channel, and strong on-premise technology will likely drive continuing share gains over the next three years. With Public Cloud adoption expected to grow from 21% of workloads to 44% in the next three years, Microsoft looks poised to maintain a dominant position in a public cloud market that he expects will more than double in size to $250B dollars. Weiss pointed out that, at the same time, the margin story at Microsoft has inflected, and he now forecasts improving gross and operating margins over the next three years. Given all of this, the analyst named Microsoft his top pick, increased his price target on the shares to $130 from $110, and noted that he sees the company having a path to $50B in EBIT and a $1T market cap. Weiss has an Overweight rating on Microsoft's shares. TARGET UPPED: Earlier this month, Deutsche Bank analyst Karl Keirstead also raised his price target for Microsoft to $120 from $115 saying the tone around the "huge" Office and Server Product segments as well as the emerging Azure business is improving. The analyst reiterated a Buy rating on the shares and told investors that he sees signs of accelerating overall IT spending growth. PRICE ACTION: In morning trading, shares of Microsoft have gained almost 6% to $92.17.

10:26 EDT Kanen nominates four candidates to board of Aqua Metals - Kanen Wealth Management on Friday evening disclosed that it delivered a letter to Aqua Metals nominating a slate of four director candidates, Anthony Ambrose, Alan Howe, David Kanen and Jeffrey Padnos, for election to the board at the company's 2018 annual meeting of stockholders. Kanen notes that Aqua Metals' amended and restated bylaws do not include advanced notice provisions for shareholder nominations of director candidates. It believes that "substantial change is required to the composition of the Issuer's Board to ensure that the best interests of shareholders are paramount in the board room." Further, Kanen thinks that its nominees "have the qualifications to not only serve as directors of the Issuer but to help ensure that the required steps are taken to put the Issuer on the right track towards shareholder value creation." It hopes to continue "constructive dialogue" with Aqua Metals' management team and board "regarding opportunities to unlock value." Kanen Wealth Management owns 7.9% of the company's outstanding shares. Aqua Metals in morning trading is up 5c to $2.46.

09:55 EDT Snap in focus after model Chrissy Teigen says she's stopped using Snap - Shares of Snap (SNAP) are in focus after model and social influencer Chrissy Teigen said she no longer uses Snapchat, a move that follows criticisms of the platform by musician Rihanna and American reality television personality Kylie Jenner. SNAP "NO BUENO": On Saturday morning, Teigen tweeted, "I stopped using snap. The update, the constant complaints of people not being able to find me, plus the Rihanna poll...no bueno." WHAT'S NOTABLE: On March 15, music artist Rihanna criticized Snapchat for shaming domestic violence victims after the social media platform showed an advertisement for its "Would You Rather?" game asking users if they would "rather slap Rihanna or punch Chris Brown." In an Instagram (FB) post, Rhianna wrote: "Now SNAPCHAT I know you already know you ain't my fav app out there! But I'm just trying to figure out what the point was with this mess! I'd love to call it ignorance, but I know you ain't that dumb! You spent money to animate something that would intentionally bring shame to [domestic violence] victims and made a joke of it!!! This isn't about my personal feelings, cause I don't have much of them... but all the women, children and men that have been victims of [domestic violence] in the past and especially the ones who haven't made it out yet... you let us down! Shame on you. Throw the whole app-oligy away." The ad has since been removed. In addition, on February 22, Kylie Jenner, who has 24.5M Twitter followers, wrote on Twitter (TWTR), "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." PRICE ACTION: In morning trading, shares of Snap dropped about 1% to $16.21.

09:52 EDT Longfin sinks 10% after Citron calls 'pure stock scheme' - Shares of Longfin are sinking after Citron Research tweeted, "If you are fortunate enough to get a borrow, indeed $LFIN is a pure stock scheme. @SEC_Enforcement should not be far behind. Filings and press releases are riddled with inaccuracies and fraud." Shares of Longfin, which describes itself as a "US-based, global Fintech company powered by artificial intelligence (AI) and machine learning," are down 10% in early trading tp $64.25.

09:45 EDT MiMedx says Phase 2b plantar fasciitis study statistically significant - MiMedx Group announced pain and foot function results from its Phase 2B clinical trial of AmnioFix Injectable in the treatment of plantar fasciitis. The Phase 2B IND clinical trial evaluating the use of AmnioFix Injectable for the treatment of Plantar Fasciitis demonstrated a clinically and statistically significant difference compared to patients in the control group in their reduction in the visual analog scale score for pain and Foot Function Index-Revised scores at three months compared to baseline, MiMedx announced. Additionally, the safety of the product was demonstrated by the absence of serious, unanticipated, product-related adverse events, it added. The company believes 60% of plantar fasciitis patients could be potential candidates to receive AmnioFix Injectable, which MiMedx estimates represents a $450M annual market opportunity. At three months, the treatment group experienced a mean reduction of 54.1 points in their VAS score for pain compared to baseline. The control group experienced a mean reduction of 31.9 points in their VAS score for pain at three months compared to baseline, a difference of 22.2 points between the two treatment groups. "As we noted in January 2018 when we initiated our Phase 3 trial to treat Plantar Fasciitis, we believe AmnioFix Injectable can become a new first-line therapy for the treatment of musculoskeletal degeneration pain," said Parker H. "Pete" Petit, Chairman and Chief Executive Officer. "We believe that our product will meet this need and quickly become a physician's product of choice for patients."

09:40 EDT Elliott Management reports 4.4% stake in Travelport, urges sale exploration

09:35 EDT ACNB Corp increases Q2 cash dividend 15% to 23c per share - The Board of Directors of ACNB Corporation recently approved and declared the payment of the regular quarterly cash dividend. The cash dividend of 23c per share is payable on June 15, 2018, to shareholders of record on June 1, 2018. This per share amount reflects a 15% increase and will result in aggregate dividend payments of more than $1.6M to ACNB Corporation shareholders in the second quarter of 2018. In comparison to a year ago, ACNB Corporation paid a 20c dividend per share in the second quarter of 2017.

09:33 EDT iKang enters into definitive merger agreement for going private transaction - iKang Healthcare Group (KANG) announced that it has entered into a definitive Agreement and Plan of Merger with IK Healthcare Investment, a special purpose vehicle wholly-owned by one or more affiliates of Yunfeng Capital and Alibaba Group Holding (BABA) and IK Healthcare Merger, a wholly-owned subsidiary of Parent. Pursuant to the Merger Agreement, Parent will acquire the Company for a cash consideration of $41.20 per Class A common share or Class C common share of the Company or $20.60 per American depositary share of the Company, each representing 1/2 of a Class A Share. This price represents a 15.0% premium over the closing price of $17.92 per ADS as quoted by the NASDAQ Global Market on March 9, 2018, and a premium of 24.7% and 28.5%, respectively, over the Company's 30 and 60 trading day volume-weighted average price as quoted by the NASDAQ through March 9, 2018, the last trading day prior to March 12, 2018, the date that the Company announced it had received a "going-private" proposal from the Sponsors. Immediately following the consummation of the merger, Parent will be beneficially owned by the Sponsors, Lee Ligang Zhang, the chairman of the board of directors and the CEO of the Company, and Boquan He, the vice chairman of the board of directors of the Company. As of the date of the Merger Agreement, Lee Ligang Zhang and Boquan He beneficially owned in the aggregate approximately 25.6% of the outstanding Shares, representing approximately 43.1% of the total voting power of the outstanding Shares, and have agreed with the Sponsors to roll over certain Shares beneficially owned by the Rollover Shareholders at the consummation of the merger in connection with the Transactions. Subject to the terms and conditions of the Merger Agreement, at the effective time of the merger, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and a wholly-owned subsidiary of Parent, and each of the Shares issued and outstanding immediately prior to the effective time of the merger and each of the ADSs will be cancelled and cease to exist in exchange for the right to receive $41.20 per Share or $20.60 per ADS, in each case, in cash, without interest, except for Shares held by Parent, the Company or any of their respective subsidiaries, Shares issued to the depositary of the Company's ADS program and reserved for the exercise of the options granted under the Company's share incentive plans, the Rollover Shares, and Shares owned by holders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger pursuant to Section 238 of the Companies Law of the Cayman Islands, which Shares will be cancelled at the effective time of the merger for the right to receive the fair value of such Shares determined in accordance with the provisions of Section 238 of the Companies Law of the Cayman Islands. At the effective time of the merger, the Rollover Shares will be cancelled for no consideration, and the Rollover Shareholders will subscribe for newly issued shares of an affiliate of Parent. If completed, the merger will result in the Company becoming a privately-held company and its ADSs will no longer be listed on The NASDAQ Global Select Market. The Company's board of directors, acting upon the unanimous recommendation of the special committee formed by the independent directors of the board of directors, approved the Merger Agreement and the transactions contemplated by the Merger Agreement, including the merger, and resolved to recommend that the Company's shareholders vote to authorize and approve the Merger Agreement and the Transactions, including the merger. The Special Committee, which is composed solely of independent directors of the Company who are unaffiliated with any member of the Buyer Group or management of the Company, exclusively negotiated the terms of the Merger Agreement with the Buyer Group with the assistance of its independent financial and legal advisors. The merger, which is currently expected to close during the third quarter of 2018, is subject to customary closing conditions, including a condition that the Merger Agreement be authorized and approved by an affirmative vote of shareholders representing at least two-thirds of the Shares present and voting in person or by proxy as a single class at an extraordinary general meeting of the Company's shareholders. The Company also amended its currently effective shareholder rights plan to render it inapplicable to the Merger Agreement and the Transactions, including the merger. The Buyer Group intends to fund the merger through a combination of equity financing provided by the Sponsors in an aggregate amount equal to approximately $1.15B in cash pursuant to equity commitment letters provided by the Sponsors to the Company and rollover financing comprised of the Rollover Shares. The Company and certain other participants in the Transactions will prepare and file with the SEC a Schedule 13E-3 transaction statement, which will include a proxy statement of the Company. The Schedule 13E-3 will include a description of the Merger Agreement and contain other important information about the Transactions, including the merger, the Company and the other participants in the Transactions

09:18 EDT Seven Stars Cloud Group launches utility token for crude oil index - Seven Stars Cloud Group announced the world's first Digital Asset Issuance and Trading Platform which will be launched by a selected team of financial technology companies including Seven Stars Cloud Group, Seven Stars Energy Pte. Ltd., BBD Digital Capital Group Ltd. and Gold Glory Blockchain Company. Seven Stars Energy Pte. Ltd., a business entity registered with the Accounting and Corporate Regulatory Authority of Singapore, is the provider of the crude oil data licensed to BBD Digital Capital Group, which is 60% owned by Seven Stars Cloud. BBD Digital Capital Group, a leader in big data solutions, financial risk management and service, will produce commodity index products using dynamic ontology based super intelligence by deploying multi-dimensional dynamic data analysis and a valuation metric known as Digital asset Return. The algorithm producing the DaR marks a substantial advance over legacy static valuation models by enhancing trading and risk management strategies. The commodity index products will then tokenized for global trading.

09:14 EDT Cemtrex acquires 46% stake in Vicon Industries - Cemtrex (CETX) announced that it has entered into an agreement to acquire ownership of approximately 46% of the outstanding common stock of Vicon Industries (VII). Cemtrex's CEO and Chairman, Saagar Govil, commented, "This transaction represents a strategic investment for the company as we continue to expand our operations into long term growth markets. Vicon is a strong brand in the security & surveillance market, with a great new product, Valerus, in an expanding market that is ripe for continued innovation. We are looking forward to leading Vicon to long term success."

09:12 EDT Sotheby's New York Asia Week auctions total $78.3M, up nearly 50% y/y - Eight days of exhibition, six days of sales and 11 auctions of Asian Art brought Sotheby's a total of $78.3M, exceeding the pre-sale estimate of $50M and representing a 49% increase over the same series of sales held one year ago. Works of arts spanning over 3,500 years were sold to collectors in Europe, Asia and the Americas, including 14 lots over $1M. Auctions of Asian Art continue at Sotheby's this week in Hong Kong with the Spring 2018 Sale Series opening to the public on 29 March.

09:05 EDT Xperi's DTS Virtual:X technology integrated in LG Electronics' Ultra HD TV line - Xperi Corporation announced that LG Electronics has integrated DTS Virtual:X immersive audio technology into its latest Ultra HD TVs.

09:04 EDT Qualys names Nicolas Chaillan as Federal Chief Technology Officer - Qualys announced it has appointed Nicolas Chaillan, Former Special Advisor for Cybersecurity and Chief Architect at the Department of Homeland Security, as Federal Chief Technology Officer to lead government IT initiatives for Qualys, including strategy and solutions development. Chaillan comes to Qualys with over 18 years of international technology, entrepreneurial and management experience spanning the public and private sector.

09:02 EDT Broadcom announces Singapore court hearing to approve scheme of redomiciliation - As previously announced, Broadcom has obtained the shareholder approval required in connection with its proposed redomiciliation to the United States by the implementation of a statutory procedure known as a scheme of arrangement. The Scheme of Arrangement remains subject to approval by the High Court of the Republic of Singapore. Broadcom-Singapore has made an application to the Singapore Court to approve the Scheme of Arrangement, as filed in O/S No. HC/OS 358/2018 in the Singapore Court, and the application has been directed to be heard before the Singapore Court on April 2, 2018 at 3:30 pm (Singapore Time), at 1 Supreme Court Lane, Singapore 178879.

08:56 EDT USG: Knauf's offer 'substantially undervalues' the company

08:55 EDT Navios Maritime Midstream announces fleet renewal and distribution - Navios Maritime Midstream Partners (NAP) reported the following developments regarding its fleet renewal and distribution policy. Navios Midstream agreed to acquire the Nave Galactic a 2009-built VLCC from Navios Maritime Acquisition (NNA) for $44.5M. Navios Midstream also agreed to sell the Shinyo Kannika to an unrelated party for $17M. Navios Acquisition's charter rate backstop has been extended to the Nave Galactic. This charter rate backstop was previously for the Shinyo Kannika, and under the backstop Navios Acquisition will pay Navios Midstream any shortfall between $38,025 per day and the average charter rate for each calendar year through February 2019. The acquisition of the Nave Galactic, a nine-year old vessel, and the sale of the Shinyo Kannika, a 17-year old vessel, will reduce the average age of the fleet by 10%. Navios Midstream will continue to refresh its fleet, thereby seeking to revitalize its cash flow generating ability. The Nave Galactic will substitute for the Shinyo Kannika under the Term Loan B. The acquisition of the Nave Galactic transaction has been unanimously approved by the Conflicts Committee of the Board of Directors of Navios Midstream.

08:52 EDT Navios Acquisition to sell one VLCC to Navios Maritime Midstream for $44.5M - Navios Maritime Acquisition Corporation (NNA) announced that it has agreed to sell the Nave Galactic, a 2009-built VLCC of 297,168 dwt to Navios Maritime Midstream Partners (NAP) for $44.5M. Navios Acquisition also agreed to extend the charter rate backstop of the Shinyo Kannika to the Nave Galactic. Navios Acquisition intends to use the proceeds from the sale of the vessel for repayment of indebtedness, reinvestment in vessels and general working capital purposes. As a result of this transaction, the Nave Galactic will be substituted by the Nave Equinox and the Nave Pyxis MR2 product tankers as collateral under the 8 1/8% Secured Bond due 2021. The sale of the Nave Galactic transaction has been unanimously approved by a Special Committee of independent Directors of Navios Acquisition.

08:48 EDT Lowe's up 5% pre-market to $88.00 after announcing CEO transition plan

08:38 EDT Onconova presents 'promising' clinical safety data from Phase 2 expansion study - Onconova Therapeutics presented "promising" new clinical safety data from the expansion phase of a Phase 2 clinical trial at the Bone Marrow Failure Disease Scientific Symposium, held in Rockville, Maryland, on March 22-23, 2018. Oral rigosertib has been developed as a single agent and in combination with azacitidine. Previous studies have demonstrated that Low-Risk MDS patients with intermittent oral rigosertib treatment at a dose of 560 mg BID show a transfusion independence rate, as defined by the IWG 2006 criteria, of 44%. Oral rigosertib in combination with AZA is being studied in patients with Higher-risk MDS. Initial results of the Phase 2 study with oral rigosertib in combination with azacitidine in patients with MDS demonstrated an overall response rate of 76%; 62% in patients following hypomethylating agent failure; and 85% in HMA naive patients. In both single agent and combination studies, oral rigosertib has been associated with hematuria in a subset of patients which has been shown to be dose and administration scheme dependent. The results reported here are from a dose exploration study in HR MDS patients with an increased oral rigosertib dose and focus on the impact of risk-mitigation strategies in minimizing the incidence of urinary adverse events; including hematuria. The mitigation strategies included prescribing the second dose of rigosertib earlier in the day and encouraging bladder emptying at bedtime. The reported incidence of hematuria of any grade with single agent azacitidine is 6.3%, including 2.3% grade 3 and 4 events. In the combination trial of oral rigosertib and azacitidine, the incidence of hematuria was 48%, with grade 3 or grade4 AEs of 12%. In the new study, in 37 patients studied with oral rigosertib and azacitidine employing prophylactic risk-mitigating strategies to minimize hematuria, a significantly lower incidence of grade 1 & 2 hematuria, and no grade 3 or 4 hematuria have been seen to date. Dose optimization and risk mitigation strategies undertaken specifically to minimize UAEs associated with oral rigosertib in combination with azacitidine have resulted, to date, in a decrease in frequency of hematuria from 48% to 11% and elimination of any serious grade 3 events. Minimization of AEs permits patients to continue on treatment to optimize the potential benefit. Reduction in incidence of hematuria also enables the continued study of oral rigosertib in LR-MDS, based on the promising TI Rate previously reported.

08:32 EDT Syntel joins Google Cloud partner program - Syntel (SYNT) announced that it has been certified as a Google Cloud Services Partner, providing platform consulting, implementation and support services for Google Cloud Products to customers across the globe. Partnering with Google Cloud (GOOG, GOOGL) solidifies Syntel's position as a leader in delivering digital business solutions, and gives Syntel the flexibility to adapt its cloud service offerings to meet customer preferences and comfort level. The partnership also provides Syntel with benefits that include training, technical support, advanced delivery assistance, and joint go-to-market opportunities. The Google Cloud Platform helps enterprises build and host public cloud applications, securely store and analyze data on Google's scalable cloud computing infrastructure, and employ machine learning and AI capabilities.

08:28 EDT Gulf Island Fabrication received termination letter from customer for two MPSVs - Gulf Island Fabrication disclosed late Friday that it has received a letter of termination from a customer within its Shipyard Division related to the construction of two multi-purpose service vessels. These are the same MPSV's the company referenced in its annual report for the year ended December 31, 2017 filed on March 9. Gulf Island "disputes the purported termination and disagrees with the customer's reasons for same." It said it will "continue to enforce its rights under the agreements and defend any claims asserted against the Company by its customer." Shares of Gulf Island Fabrication are down 2%, or 20c, to $8.00 in premarket trading.

08:20 EDT Expedia announces name change to Expedia Group - Expedia Group, formerly Expedia, announced that it changed its corporate name from "Expedia, Inc." to "Expedia Group, Inc." The stock will continue to trade on Nasdaq under the EXPE ticker symbol.

08:19 EDT ServiceMaster provides American Home Shield spin-off update - ServiceMaster provided the following update in connection with its previously announced spin-off of American Home Shield. The spin-off continues to be on track to be completed in Q3. In connection with the spin-off, ServiceMaster previously initiated a search for a dynamic chief executive officer to continue to drive the strong performance of American Home Shield, while also helping it pursue distinct strategies and growth opportunities available to it as a separate public company following the spin-off.

08:16 EDT Organovo announces multi-year supply agreement with Lonza Bioscience Solutions - Organovo Holdings announced that its wholly-owned subsidiary, Samsara Sciences, a provider of highly specialized human liver cells, entered a non-exclusive global supply agreement with Lonza Bioscience Solutions. Under the terms of the agreement, Lonza will market human cell products from Samsara for further distribution to its customers.

08:16 EDT Document Security wins appeal, federal circuit reverses PTAB ruling - Document Security Systems (DSS) announced today that the Patent Trial and Appeal Board, or PTAB, was wrong when it found that claims 1-4 and 9-10 of U.S. Patent No. 6,128,290, owned by DSS, were unpatentable. The '290 patent is the subject of DSS's patent infringement lawsuit against Apple (AAPL) accusing various Apple products utilizing wireless Bluetooth connections to a plurality of peripheral devices, such as a keyboard and a mouse, of infringing the '290 patent. DSS' lawsuit has been stayed pending the resolution of Apple's claims asserted in the PTAB that the asserted claims of the '290 patent were invalid. "We are pleased that the Federal Circuit recognized that Apple had not proven the claims of the '290 patent to be invalid and look forward to pursuing our claims for patent infringement against Apple in court," stated Jeff Ronaldi, CEO of DSS. DSS now intends to ask the court handling its patent infringement lawsuit to lift the stay that had been pending resolution of the proceedings initiated by Apple in the PTAB, which DSS expects the court to do, and resume prosecution of those claims against Apple.

08:14 EDT Armo BioSciences completes first interim analysis in Phase 3 SEQUOIA study - ARMO BioSciences announced the completion of the first interim analysis in its Phase 3 SEQUOIA study in patients with pancreatic cancer. The Data Monitoring Committee for SEQUOIA, a phase 3 clinical trial studying pegilodecakin, plus FOLFOX versus FOLFOX alone in patients with pancreatic ductal adenocarcinoma, met on March 25, 2018 to conduct the first interim analysis of the study. Based on the review of this interim analysis, the DMC recommended that the study continue without modification. This first interim analysis was intended to determine if it is safe for the study to proceed based primarily on overall survival as well as pharmacokinetics in the first 60 subjects enrolled in the study that received at least 4 months of therapy. SEQUOIA is a Phase 3 randomized pivotal clinical trial in PDAC patients, which compares a combination of pegilodecakin and FOLFOX to FOLFOX alone, as a second-line therapy after tumor progression during or following a gemcitabine-containing regimen. The first patient was enrolled in the study in early 2017 and the company plans to enroll approximately 566 patients in total. The second interim analysis, as well as the final analysis, either of which could provide the basis for a Biologics License Application submission to the Food and Drug Administration, are both expected to be conducted in 2020. The FDA and European Commission have granted pegilodecakin Orphan Drug designation for the treatment of pancreatic cancer and the FDA has also granted Fast Track designation for pegilodecakin in combination with FOLFOX as a second-line therapy in patients with pancreatic cancer.

08:12 EDT Tenet board reaches agreement with Glenview Capital Management - Tenet announced that its board has reached an agreement with Glenview Capital Management under which Glenview has withdrawn its proposal to amend the company's bylaws that would allow shareholders to take action by written consent without a meeting. In addition, Glenview has agreed to vote its shares in favor of all of the board's nominees and support all board recommended proposals at the company's 2018 annual meeting of shareholders. As part of the agreement, the Tenet board is revising the company's bylaws to further align its corporate governance with best practices, as follows: Revising the special meeting bylaw so that it can only be amended by a vote from shareholders representing a majority of the outstanding common stock; Holding its annual meeting at least every 13 months, consistent with the standard applicable under Delaware law, under a bylaw that can only be modified by a vote from shareholders representing a majority of the outstanding common stock; and Adding a shareholder rights plan bylaw with provisions including that approval from 75% of the members of the board is required to adopt any future shareholder rights plan, and that the term of the rights plan must be limited to a maximum duration of one year plus a 90 day period to solicit shareholder approval of any longer duration, if applicable.

08:12 EDT Facebook to expand local news feature beyond U.S. - Facebook says it will expand its local news push beyond the United States to provide users with more stories from local sources covering their current cities and other cities of interest. Alex Hardiman, Head of News Product, and Campbell Brown, Head of News Partnerships, commented, "Local news helps people connect to their communities about the issues that are closest to home. Earlier this year, we announced a change in the US to prioritize local news so people can see topics that have a direct impact on their community and discover what's happening in their local area. Today, we're expanding that update to people in all countries, in all languages. Now, people around the world will see more news on Facebook from local sources covering their current city and other cities they may care about. With this update, we're helping local publishers who cover multiple, nearby cities reach audiences in those cities. We'll consider a publisher as local to multiple cities if the people in those cities are more likely than the people outside of those cities to read articles from the publisher's domain. By expanding the scope of what may be considered local to people, we're including other cities that people may care about and connecting people to local publishers from those cities. We'll continue our work to prioritize high quality news in News Feed, including news from sources that are broadly trusted, informative and relevant to local communities. We look forward to improving and expanding these efforts this year." Reference Link

08:10 EDT Palatin: Amag Pharmaceuticals submits bremelanotide NDA to FDA - Palatin Technologies (PTN) announced that its exclusive North American licensee for bremelanotide, AMAG Pharmaceuticals (AMAG), has submitted a New Drug Application to the U.S. FDA for bremelanotide for the treatment of hypoactive sexual desire disorder in premenopausal women. If approved, bremelanotide would become the first and only as desired pharmacologic option in the U.S. indicated for the treatment of HSDD in premenopausal women. Palatin expects that within 60 days the FDA will determine whether the NDA is complete for filing. If the NDA is accepted, the FDA will assign a Prescription Drug User Fee Act target action date by which it intends to complete its review.

08:08 EDT DarioHealth gets FDA clearance for iPhone 7, 8 and iPhone X Smart Glucose Meter - DarioHealth (DRIO) announced that the United States FDA has granted Pre-market Notification 510(k) clearance for the company's Lightning-enabled version of the acclaimed Dario Blood Glucose Monitoring System which enables the use of the Dario app on iPhone 7, 8 and X smart mobile devices. Consumers in the U.S. market will be able to receive the same quality user experience with DarioHealth on the latest Apple (AAPL) devices, including the iPhone X. This news opens a significant U.S. market opportunity for DarioHealth, as it enables DarioHealth to provide its diabetes management platform and expand the sales of the Dario Blood Glucose Monitoring System to iPhone 7, 8 and X SMDs.

08:06 EDT Model Chrissy Teigen says she has stopped using Snap - Model and social influencer Chrissy Teigen tweeted this morning "I stopped using snap. The update, the constant complaints of people not being able to find me, plus the Rihanna poll...no bueno." Reference Link

08:05 EDT Astellas Pharma, Seattle Genetics receive BTD for enfortumab vedotin - Astellas Pharma and Seattle Genetics announced that the U.S. FDA has granted Breakthrough Therapy Designation to enfortumab vedotin, an antibody-drug conjugate for patients with locally advanced or metastatic urothelial cancer who were previously treated with checkpoint inhibitors.

08:04 EDT Transcontinental Realty's SPC raises additional funds on Israeli bond market - Southern Properties Capital a subsidiary of Transcontinental Realty Investors and Abode Properties, both Dallas based real estate investment companies, announces an expanded bond offering in the Israeli market. The company raised an additional $39.4M bond series B on the Tel Aviv Stock Exchange. As previously reported, TCI was the first Dallas based firm to raise capital on the Israeli bond market with its Series A bond. Prior to the Southern Properties Capital issuance, the market was previously dominated by Manhattan based companies, but has once again shown increased demand for additional bond issuers throughout the United States.

08:03 EDT BioLife Solutions, SAVSU Technologies awarded patent - BioLife Solutions and SAVSU Technologies announced that the USPTO has issued a notice of allowance for a second patent application titled "Biologic Stability, Delivery Logistics and Administration of Time and/or Temperature Sensitive Biologic Based Materials". The inventors are Bruce McCormick, President of SAVSU Technologies, and Mike Rice, CEO of BioLife Solutions. The patents will issue on April 10th, 2018, under patent numbers 9,939,422 and 9,939,423.

07:46 EDT New Gold says four directors to retire from board - New Gold announced the pending retirement of four Directors, Vahan Kololian, Martyn Konig, Randall Oliphant and Kay Priestly, as well as the nomination of two new independent Directors, Dr. Gillian Davidson and Peggy Mulligan. Overall, the changes result in the planned reduction in the size of the Board from nine to seven members.

07:39 EDT Monro appoints Evan Naylor as COO - Monro announced that Evan Naylor has been appointed to the position of COO, effective immediately. Naylor joins Monro with over two decades of operations management experience, in which he developed and implemented enterprise-wide strategies at the corporate and field level, across large national retailers and in the U.S. Army. Naylor will oversee all aspects of Monro's store operations and will be responsible for the execution of the company's store-related initiatives, as part of its strategic business transformation. He will report to Brett Ponton, President and CEO.

07:38 EDT CCUR Holdings receives Nasdaq delisting determination - CCUR Holdings announced that its common stock will be suspended from trading on The Nasdaq Stock Market effective as of the open of business on Tuesday, March 27, 2018. As previously announced, the company received a Nasdaq Staff Determination Letter on January 4, 2018 stating that the Nasdaq Staff had determined that the company was a "public shell" under applicable Nasdaq criteria and thus delisting of its stock was warranted.

07:33 EDT Spotify sees FY18 total monthly active users 198M-208M, up 26%-32% y/y - For FY18, Spotify sees Total Premium Subscribers: 92-96 million, up 30-36% Y/Y; Total Revenue: EURO$4.9B-EURO$5.3B, up 20-30% Y/Y. It anticipates changes in foreign exchange rates will have a negative impact of approximately EURO$260M-EURO$300M for the full year; Gross Margin: 23-25%; Operaing loss: EURO$230M-EURO$330M. This includes an estimated total cost for the direct listing of roughly EURO$35M-EURO$40M which it expects to expense in Q2.

07:18 EDT Wipro, Adobe expand partnership to offer enhanced digital services and solutions - Wipro (WIT) announced an expanded global relationship with Adobe (ADBE) to create, build and run digital marketing solutions and campaigns for their clients across the globe.

07:08 EDT Acorda Therapeutics submits MAA to the EMA for INBRIJA - Acorda Therapeutics announced that it has submitted a marketing authorization application, or MAA, to the European Medicines Agency, or EMA, for INBRIJA. Acorda is seeking marketing approval in the European Union for INBRIJA, an investigational inhaled levodopa treatment for symptoms of off periods in people with Parkinson's disease taking a carbidopa/levodopa regimen. The MAA for INBRIJA includes clinical data from the INBRIJA Phase 3 safety and efficacy trial as well as the results from two long-term safety studies in people with Parkinson's. Findings from these studies support the submission of INBRIJA for use on an as needed basis to address symptoms of off periods. The primary endpoint from the Phase 3 study of INBRIJA showed a statistically significant improvement in motor function in people with Parkinson's disease experiencing off periods.

07:07 EDT Compugen names Henry Adewoye, MD, as Chief Medical Officer - Compugen announced the appointment of Dr. Henry Adewoye, to the newly created position of Chief Medical Officer, effective immediately. Dr. Adewoye brings to Compugen over two decades of extensive and broad experience in leading multiple clinical trials in oncology and hematology in both the biopharmaceutical industry and academia. Dr. Adewoye will be based at Compugen's South San Francisco facilities and will report to Dr. Anat Cohen-Dayag, Compugen's President and CEO as part of the company's senior management team.

07:07 EDT Trump says 'economy looking really good' - President Donald Trump tweeted, "The economy is looking really good. It has been many years that we have seen these kind of numbers. The underlying strength of companies has perhaps never been better." Reference Link

07:05 EDT Gebr. Knauf offers to acquire USG for $42 per share - In a regulatory filing, Berkshire Hathaway (BRK.A) disclosed that from time to time, beginning many years ago, executives of Gebr. Knauf Verwaltungsgesellschaft KG, or "Gebr. Knauf," have contacted Berkshire's Chief Executive Officer to describe the Knauf Entities' potential and conditional interest in a transaction with USG. Most recently, the Knauf Entities furnished Berkshire a copy of a letter from Gebr. Knauf to USG dated March 15, 2018 in which Gebr. Knauf submitted an indicative and non-binding proposal for the acquisition of 100% of the outstanding shares of Common Stock of USG at $42.00 per share. "On March 23, 2018 Berkshire's CEO and another Berkshire executive held a telephonic discussion with two executives of the Knauf Entities and three representatives of one of the advisors of the Knauf Entities, during which Berkshire proposed to grant to the Knauf Entities an option to purchase all of the Berkshire Entities' shares of Common Stock of USG, subject to legal review. Such option would be exercisable only in connection with the consummation of a purchase by the Knauf Entities of all of the outstanding shares of Common Stock of USG that the Knauf Entities did not already own, at a price of not less than $42.00 per share, subject to and in accordance with applicable law and contractual restrictions. The option exercise price per share was proposed by Berkshire to be the price per share paid to such other holders of Common Stock of USG by the Knauf Entities, less the option purchase price of $2.00 per share to be paid to the Berkshire Entities upon entering into a definitive option agreement. The option would have a term of approximately 6 months. The Knauf Entities have not responded to this proposal, and the Reporting Persons do not know whether the Knauf Entities will pursue further discussion with Berkshire of the proposed option or will make an offer to purchase shares of Common Stock of USG. Berkshire has not agreed to support any plan or proposal by the Knauf Entities with respect to the Common Stock of USG, and there are no agreements, written or otherwise, between the Reporting Persons and the Knauf Entities."

07:04 EDT Zynerba says preclinical data shows effect of ZYN002 in reduction of replase - Zynerba Pharmaceuticals announced that researchers at The Scripps Research Institute and the University of Maryland have generated preclinical data from a study funded by NIH grants that suggest potential value in using transdermal cannabidiol to reduce the risk of relapse among recovering drug and alcohol addicts. ZYN002, which was provided by the company for use in the study, is the first and only pharmaceutically-produced CBD formulated as a patent-protected permeation-enhanced transdermal gel. The results have been published in a paper entitled, 'Unique Treatment Potential of Cannabidiol for the Prevention of Relapse to Drug Use: Preclinical Proof of Principle' in Neuropsychopharmacology, the official publication of the American College of Neuropsychopharmacology. In summary, according to the authors, the findings in this publication provide proof of principle supporting the potential of transdermal CBD for relapse prevention along two dimensions: beneficial actions across several vulnerability states, and long-lasting effects with only brief treatment. The publication noted that the clinical potential of CBD when administered orally is constrained to some extent by low bioavailability and potential for conversion into psychoactive cannabinoids in gastric fluid. The authors identified the transdermal route of administration as an effective delivery method that eliminates both of these limitations and produces stable and sustained plasma CBD levels. The researchers utilized a rat model of drug addiction and addiction-like behavior to test ZYN002 administered once daily for one week. In this study, ZYN002 reduced relapse provoked by stress and drug cues, and reduced anxiety and impulsivity in the drug-experienced rats without sedative and nonspecific effects on motivation. Five months after therapy ended, treated animals still showed reduced relapse induced by stress or drug cues. According to the authors of the publication, the mechanisms by which CBD impacts these behaviors is not yet understood, but may be related to its ability to modulate the endocannabinoid system or its proneurogenic activity, both of which may explain the long-lasting attenuation of drug seeking and relapse and experimental anxiety.

07:04 EDT Zayo Group selected by Interdata for dark fiber - Interdata has selected Zayo Group Holdings for dark fiber infrastructure in France. Zayo will add approximately 50 kilometers of new fiber to its existing network for the project. The solution includes two diverse, dark fiber rings connecting the company's data centers in Paris and Nozay. Completion of the rings will enable Zayo to reach a large data center campus in France just south of Paris.

07:02 EDT ITUS announces issuance of second key cancer detection technology patent - ITUS announced that the United States Patent and Trademark Office has issued US Patent No. 9,934,364. This is the second and very critical patent filed by the company to protect its cancer detection technology. This patented technology is a key component of Cchek, ITUS' early cancer detection platform.

07:00 EDT Bristol-Myers receives positive CHMP opinion recommending approval of Opdivo - Bristol-Myers Squibb announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has recommended approval of an every four-week Opdivo dosing schedule of 480 mg infused over 60 minutes as an option for patients with advanced melanoma and previously treated renal cell carcinoma. The CHMP also recommended approval of a two-week Opdivo dosing option of 240 mg infused over 30 minutes to replace weight-based dosing for all six approved monotherapy indications in the EU. The CHMP recommendation will now be reviewed by the European Commission, which has the authority to approve medicines for the European Union

06:48 EDT Protagonist Therapeutics to discontinue Phase 2b PROPEL study - Protagonist Therapeutics announced that the company is discontinuing the Phase 2b PROPEL study of PTG-100, its investigational oral GI-restricted alpha-4-beta-7 integrin antagonist peptide, in patients with moderate to severe ulcerative colitis, or UC. This decision followed a planned interim analysis by an independent Data Monitoring Committee, or DMC, of unblinded efficacy and safety data from the first 65 patients from the ongoing 240 patient trial who had completed the 12 week treatment with PTG-100. Using pre-specified criteria, the DMC deemed the trial to be futile based on an analysis of the primary endpoint of clinical remission. No safety concerns were noted in the analysis. Based on the DMC's recommendation received after the market close on Friday, and while further review of the data is being conducted, Protagonist is notifying PROPEL trial investigators that randomization of potential participants and further treatment of patients currently in the study will be discontinued. Additionally, the company will postpone its decision about the initiation of a Phase 2/3 clinical trial of PTG-100 in chronic pouchitis until after its full review of the interim data from the UC PROPEL study.

06:47 EDT Loxo Oncology completes rolling submission of NDA to FDA for larotrectinib - Loxo Oncology (LOXO) announced that the company has completed the rolling submission of a New Drug Application to the U.S. FDA for larotrectinib for the treatment of adult and pediatric patients with locally advanced or metastatic solid tumors harboring an NTRK gene fusion. Loxo Oncology and Bayer (BAYRY) are engaged in a collaboration for the development and commercialization of larotrectinib. A Marketing Authorisation Application submission by Bayer in the European Union is expected in 2018.

06:39 EDT BioScrip CEO says addressing weaknesses in internal controls - BioScrip announced that the company has filed timely its Annual Report on Form 10-K for the year ended December 31, 2017 with the U.S. SEC within the 15-day automatic extension period granted through its Form 12b-25 filing on March 16. "BioScrip concluded its previously announced management-initiated accounting review and corrected certain immaterial errors in the Company's financial statements," said Daniel E. Greenleaf, President and CEO. "In addressing these primarily legacy issues in a transparent manner, our new leadership team has taken the necessary proactive steps to ensure the accuracy of our financial statements. While the errors identified were immaterial in nature, we are implementing a thorough remediation plan to address related weaknesses in our internal controls. BioScrip's business fundamentals have never been stronger and we are committed to delivering continued improvement in 2018 and long-term sustainable growth and value creation to our stakeholders."

06:08 EDT Louis Vuitton names Virgil Abloh as Men's Artistic Director - Louis Vuitton announced Virgil Abloh as its new Men's Artistic Director, with immediate effect. His first show for Louis Vuitton will take place in June during Men's Fashion Week in Paris.

06:04 EDT Amdocs collaborates with Microsoft to enable ONAP on Microsoft Azure - Amdocs announced its implementation of Open Network Automation Platform on the Microsoft Azure cloud platform. This new development enables operators to deliver virtual network services running on Azure, orchestrated and managed using ONAP. Amdocs and Microsoft will show how operators can gain the time-to-market and cost benefits of public clouds with a demonstration of ONAP running on Azure this week at the Linux Foundation's Open Network Summit in Los Angeles. Amdocs is working with Microsoft to make the ONAP code available to the open source community in May 2018. Network operators will then be able to offer network services running on Azure as the primary cloud or as complementary capacity for their private cloud to deploy virtual network functions that are managed and orchestrated by ONAP.

06:03 EDT JAKKS Pacific announces update on special committee process - JAKKS Pacific announced that the special committee of the Board of Directors established to review and evaluate the non-binding proposal dated January 25, 2018 from Hong Kong Meisheng Cultural Company Limited, a wholly owned subsidiary of Meisheng Cultural and Creative Corp., has engaged and is actively working with Bank of America Merrill Lynch, its outside financial advisor, and Skadden, Arps, Slate, Meagher & Flom, LLP, its outside legal advisor. The Special Committee consists of Rex H. Poulsen, Michael S. Sitrick and Michael J. Gross. As previously announced by the Company on January 28, 2018, the Expression of Interest sets forth Meisheng's interest in acquiring additional shares of JAKKS common stock for $2.95 per share. Upon completion of the proposed transaction, Meisheng's shareholdings and voting rights would increase to 51%. Hong Kong Meisheng currently owns 5,239,538 shares of JAKKS common stock constituting approximately 18% of JAKKS issued and outstanding shares of common stock. In addition to its review and evaluation of the Expression of Interest, the Special Committee has been authorized to negotiate with Meisheng on behalf of the Company, consider other potential strategic alternatives, and solicit and consider alternative transactions.

05:53 EDT Concord Medical to obtain independent imaging diagnostic license - Concord Medical announced that Shanghai Concord Medical Imaging Diagnostic Center, the first independent imaging diagnostic center of Concord Medical, obtained an independent imaging diagnostic license. The Imaging Center is expected to introduce world-class diagnostic technology and management services, cover the Medical Center and the Yangtze River Delta region through a remote sharing consultation platform, and provide a full range of imaging diagnosis and high-quality services for domestic and foreign commercial insurance patients. The Imaging Center is expected to officially open before the end of 2018.

05:43 EDT Finish Line to be acquired by JD Sports Fashion for $13.50 per share - Finish Line announced that it has entered into a merger agreement providing for JD Sports Fashionm to acquire 100% of the issued and outstanding Finish Line shares at a price of $13.50 per share in cash representing an aggregate deal value of approximately $558M. JD is the leading European retailer of sports, fashion and outdoor brands. The terms of the merger represent a premium of 28 percent for Finish Line shareholders compared to the closing price of Finish Line's shares of $10.55 as of March 23, 2018. This provides an excellent strategic fit for Finish Line and JD. Finish Line moves into a stronger position to compete as part of a global enterprise that leads in the industry. JD gains a significant physical and online retail presence with direct access in the US which they have long identified as a highly attractive growth opportunity. Finish Line and JD together create a leading global, premium, multichannel retailer of sports, fashion and outdoor brands who embraces the latest online and in-store digital technology. Upon closing of the agreement, the Finish Line executive team will continue their involvement with the business. The expected timeline to close on this agreement is no earlier than June 2018.

05:42 EDT Finish Line to be acquired by JD Sports Fashion for $13.50 per share

05:39 EDT TechnipFMC awarded iEPCITM contract by Energean Oil & Gas - TechnipFMC has been awarded an integrated Engineering, Procurement, Construction and Installation, or iEPCI, contract by Energean Oil & Gas for the Karish full field development, located offshore Israel at a water depth of 1,750 meters. This award extends our iEPCI offering from seabed to offshore producing facility. The execution of this iEPCI contract covers the design, procurement, construction and installation of the complete subsea system, a Floating Production Storage and Offloading unit, or FPSO, designed to allow the subsequent tie-back of the Tanin field, the pipeline system, and the onshore pipeline and valve station at the receiving station.

05:25 EDT TechnipFMC awarded contract offshore Malaysia by Sabah Shell Petroleum - TechnipFMC has been awarded an Engineering, Procurement, Construction and Installation contract by Sabah Shell Petroleum Company Ltd. This award covers the delivery and installation of subsea equipment including umbilicals, flowlines and the subsea production system for the Gumusut-Kakap Phase 2 Project.