Stockwinners Market Radar for March 28, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:11 EDT Sorrento Therapeutics CEO issues update to shareholders - The CEO writes: "Despite a recent short seller opinion piece aimed at undermining the credibility of Sorrento and its management and negatively impacting Sorrento shareholder value, which we believe to be baseless and without merit, I am confident in my current team's ability to execute on our strategic plan and deliver long term shareholder value. In this regard, I want to provide an update on our progress since my previous "letter to stockholders" communication. Since the beginning of the year, our company has already accomplished the following: INDs accepted in China and South Korea for two of our partnered PD-L1 antibodies and are currently recruiting patients; NDA approval of ZTlido; IND submission for our lead program, CD38 CAR-T; Completed treatment of first cohort (03/12/18) and entered into second cohort treatment in the epidural RTX trial for intractable cancer pain. With the foregoing major achievements and recently announced financing, we are now in a much better position to execute on commercialization efforts, enter into strategic partnerships and advance our clinical stage assets."

19:03 EDT MediciNova to initiate pilot study to evaluate MN-166 - MediciNova announced that it plans to initiate a pilot study to evaluate MN-166 in chemotherapy-induced peripheral neuropathy. The clinical trial is a collaborative effort between MediciNova, Inc. and Dr. Janette Vardy, Professor of Cancer Medicine, University of Sydney Concord Cancer Centre in Australia. The proposed clinical trial will evaluate MN-166 as a potential treatment for individuals with chemotherapy-induced peripheral neuropathy. A Concord Cancer Centre Research grant will provide funding for this study and MediciNova will provide study drug.

18:57 EDT Broadcom principal accounting officer sells 5,000 ordinary shares - In a regulatory filing, Broadcom principal accounting officer Kirsten M. Spears disclosed the sale of 5,000 ordinary shares at a price of $249.859 per share.

18:48 EDT Overstock files U.S. Supreme Court brief in South Dakota v. Wayfair case - Overstock.com (OSTK), together with Wayfair (W) and Newegg, filed a legal brief with the United States Supreme Court in the case of South Dakota v. Wayfair Inc., et al. South Dakota is asking the Supreme Court to overturn the long-standing precedent of Quill Corp. v. North Dakota, 504 U.S. 298, a case which prevents a state from compelling an out-of-state company to collect sales tax, unless the company has a physical presence in the taxing state. "Overstock and others know that overturning Quill would usher in a new era of ever-growing state powers-not only in cross-border tax, but also in cross-border regulation-all at the expense of consumers and interstate commerce generally," Overstock said. "South Dakota is just one state, but South Dakota's arguments seek to compel Internet vendors and other remote sellers to be exposed to the impulse and preferences of each of the nation's 12,000 state and local taxing jurisdictions... In their brief, Overstock and other respondents demonstrate that South Dakota, in its effort to do away with Quill, is at odds with the real-world experience of both large and small online retailers, making the Internet a more complicated and expensive environment for businesses and consumers alike... Overstock believes overruling the Quill precedent will cause substantial economic disruption for companies seeking to reach a national market through the Internet, from startups and family-owned businesses to larger remote sellers. Consequently, Overstock urges the Supreme Court to reject the erroneous claims of the State and permit Congress to enact balanced federal legislation to address the remote sales tax issue."

18:38 EDT Pembina Pipeline announces Alliance Pipeline open season - Pembina Pipeline announced that Alliance Pipeline, of which it owns a 50% interest, has commenced a binding open season for expansion capacity commitments. The Open Season is for an estimated 400 million cubic feet per day of additional firm service, commencing at an anticipated in-service date in Q4 2021. The two-month Open Season closes May 30. Alliance receives natural gas in British Columbia, Alberta and North Dakota and carries it to the Chicago market, delivering approximately 1.6 billion cubic feet of natural gas per day. Pending regulatory approval, Alliance will increase capacity by approximately 25% through the addition of compression and other facilities to its system. The offer is available to both existing and prospective shippers, for a minimum bid term of 15 years. Subject to the results of the Open Season, this approximately $2B project will be backstopped by long term, take-or-pay contracts.

18:22 EDT H.B. Fuller CEO expects pricing improvement to continue - CEO Jim Owens says: "Our Engineering Adhesives segment continues to show double digit growth and the Americas and EIMEA segments both grew organically above our long-term targets. Pricing improved and will become a strong contributor to our margin improvement as we move through the fiscal year. Raw material savings from the Royal integration showed benefits late in the first quarter and we are on track to deliver $15 million in synergy savings this year. Our plans to deliver $465 million in EBITDA this year and $600 million in EBITDA by 2020 remain on track. We expect free cash flow generation of $200 million and a reduction in debt of $170 million in 2018. We are creating value and continue to build the world's best adhesives company."

18:10 EDT Renasant to merge with Brand Group Holdings in $452.9M deal - Renasant and Brand Group Holdings jointly announced the signing of a definitive merger agreement pursuant to which Brand will merge with and into Renasant in a transaction currently valued at approximately $452.9 million. The proposed merger has been approved unanimously by each company's board and is expected to close in the third quarter of 2018. Completion of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals and the approval of Brand's shareholders. According to the terms of the merger agreement, Brand shareholders will receive 32.87 shares of Renasant common stock and $77.50 in cash for each share of Brand common stock. Additionally, all Brand options will be cashed out at $1,550 per share. Based on Renasant's closing price of $41.66 per share as of March 27, 2018, the implied transaction value is approximately $452.9 million, in the aggregate, or $1,447 per share. The transaction's final pricing is contingent upon Brand's divestiture of certain assets, as outlined in the definitive merger agreement, which will be filed with the Securities and Exchange Commission in the coming days. Excluding one-time transaction costs, the merger is expected to be immediately accretive to Renasant's estimated earnings and to have a substantial positive long-term impact on Renasant.

18:01 EDT Investar Holding raises quarterly dividend 11% to 3.5c per share - The dividend is payable on April 30 to shareholders of record as of April 9.

17:54 EDT Brigade responds to Kindred Healthcare press release - Brigade Capital Management, on behalf of funds managed by it, responded to yesterday's press release by Kindred Healthcare to correct what Brigade views as misleading statements by Kindred. Brigade said, "Brigade believes Kindred's shareholders deserve better and should vote "NO" to the proposed acquisition of the company by a consortium of Humana (HUM), TPG Capital and Welsh, Carson, Anderson & Stowe. Kindred's press release states that the Delaware Court of Chancery "denied all of the relief Brigade sought" in its application to postpone Thursday's shareholder vote on the proposed acquisition. This is simply false. The Court granted Brigade's application that shareholders be given more time to protect their legal rights in connection with this vote. As a result of Brigade's efforts, voting is Court-ordered to remain open from 10:00 a.m. this Thursday, March 29, 2018, until next Thursday, April 5, 2018. Brigade believes that this ruling provides shareholders with additional time to review important new disclosures (which were inserted by the Company only after Brigade highlighted to the Court material misstatements in prior proxy materials), and vote "NO." Kindred shareholders now have an extra week to evaluate the merits of the proposed transaction. We believe that this is a terrible deal for shareholders from any angle."

17:43 EDT Nasdaq targets Market Technology organic revenue growth of 8%-11% over 3-5 years - Aims for mid-to-high single digit annual growth for Market Infrastructure Operators segment. Aims for double digit annual growth for Buy-Side/Sell-Side segment. Comments from the company's Investor Day slides earlier today. Reference Link

17:38 EDT HP Inc. says COO Jon Flaxman passed away this morning - Reference Link

17:29 EDT GameStop says back half of FY18 has stronger title slate - Says titles like "Call of Duty Black Ops 4" and "Red Dead Redemption 2" will drive stronger sales in the back half of 2018 than the front half.

17:27 EDT United Security Bank increases quarterly dividend 28.5% to 9c per share - United Security Bancshares declared a regular quarterly cash dividend of 9c per share on the company's common stock, an increase from 7c per share. The dividend is payable on April 19 to shareholders of record as of April 9.

17:20 EDT C&J Energy Services to replace Lumentum in S&P 600 at open on 4/4

17:18 EDT MSCI to replace CSRA in S&P 500 at open on 4/4 - S&P 500 constituent General Dynamics (GD) is acquiring CSRA (CSRA) in a deal expected to close soon pending final conditions.

17:12 EDT GameStop says it needs to work on technology brands and pre-owned items - Says the company is executing trade awareness through marketing. Says the company is taking a pause on acquisitions to focus on core business.

17:09 EDT FirstEnergy Solutions unit files deactivation notice for three nuclear plants - FirstEnergy Solutions notified PJM Interconnection, the regional transmission organization, two nuclear power plants in Ohio and another in Pennsylvania owned by its subsidiary will be deactivated during the next three years. Plant closures are subject to review by PJM for reliability impacts, if any. In the interim, the plants will continue normal operations, as FES seeks legislative policy solutions as an alternative to deactivation or sale. The total capacity of the nuclear plants to be deactivated is 4,048 megawatts. In 2017, the nuclear units contributed approximately 65% of the electricity produced by the FES generating fleet.

17:02 EDT Brown & Brown completes 2-for-1 stock split - Brown & Brown announced that its previously declared 2-for-1 stock split was paid on March 28 to shareholders of record as of the close of business on March 14 and that the company's common stock will begin trading at the split-adjusted price at the market open on March 29. As a result of the stock split, the number of outstanding shares of common stock will increase from approximately 138M to approximately 276M.

16:59 EDT Assured Guaranty CEO urges PRASA to work with creditors - Dominic Frederico, president and CEO of Assured Guaranty, released the following statement in response to the latest revised fiscal plans submitted by the government of Puerto Rico, Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority by the Financial Oversight and Management Board for Puerto Rico: "Each successive proposed fiscal plan reveals what many informed observers already suspected, that Puerto Rico had greater financial resources than it previously claimed. Nevertheless, there continues to be little transparency in the process, and audited financial statements still have not been produced since 2014. The most recent draft fiscal plan, the third this year, now projects $6 billion available for creditors in the first six years, when just two months ago the Commonwealth claimed to be facing a deficit exceeding $3 billion before paying any debt service, a swing of almost $10 billion. Every new fiscal plan paints a different picture, but they each continue to demonstrate a failure to comply with applicable law including the requirements of PROMESA, an unwillingness to repay debt obligations, a lack of recognition of the importance of capital market access for future economic growth, and the allocation of hundreds of millions of dollars to unnecessary litigation expenses - expenses that could be avoided by working together with creditors and other stakeholders to develop a realistic plan for Puerto Rico's future. Based on the revised plan and further opportunities for revenue and expense improvements, a consensual agreement can be negotiated without delay and significant litigation expense. Against this backdrop, the Governor recently made the unprecedented suggestion to both increase public sector salaries and cut taxes, thus deepening the financial hole even while the Commonwealth sits in Title III proceedings, essentially bankruptcy. The Governor and Oversight Board must do a better job for Puerto Ricans whose lives and livelihoods depend on the recovery, and for investors that provided funds to build the island's schools, airports, hospitals, and infrastructure. The Commonwealth and Oversight Board must develop a process to prohibit wasteful and fraudulent spending, and to eliminate the budget deficits that have plagued the island's recent past. As past municipal bankruptcies have shown, working closely with creditors on consensual approaches and tapping their expertise to help navigate complicated debt restructurings is the optimal path to emerge successfully from bankruptcy. It is critical that debtors respect their creditors. If Puerto Rico does not pay its debts, as required by its own constitution, future investment in the island will dry up. Without investment, there can be no economic recovery or long-term expansion. This is a lesson that has clearly not been reflected in Puerto Rico's actions. Moreover, a failure to comply with applicable law and to respect property rights in Puerto Rico would also have harmful ripple effects across the mainland financial markets. Violating bond agreements could prevent other municipal issuers from accessing capital markets at reasonable rates. This would make it more expensive for municipalities throughout the United States to fund essential services and infrastructure. We urge the Governor and Oversight Board to work with creditors to create a sustainable economic recovery plan based not on political agendas but on the Oversight Board's only mandate: to support economic stability in Puerto Rico by achieving fiscal responsibility and access to capital markets."

16:40 EDT Jones Energy receives NYSE continued listing standard notice - Jones Energy received notification on March 23 from the NYSE that the company was noncompliant with certain continued listing standards because the price of the company's Class A common stock over a period of 30 consecutive trading days had fallen below $1.00 per share. The company previously received a similar notice on December 26, 2017 but regained compliance on February 1, 2018. Jones Energy now has a six-month cure period to regain compliance. The company notified the NYSE that it intends to cure the price deficiency, including by proposing a reverse stock split for approval by the company's stockholders. The notice does not affect ongoing business operations of the company or its reporting requirements with the SEC.

16:37 EDT pSivida updates pipeline of ophthalmic products, to trade under new symbol - "Today's announcements significantly accelerate the transformation of pSivida into a specialty biopharmaceutical company with the potential to launch two ophthalmic products in the first half of 2019 with the FDA approval of DEXYCU, and active regulatory review of Durasert micro-insert for posterior segment non-infectious uveitis. Our goal is to leverage the commercial infrastructure we are building and become a sustainable growth company," said Nancy Lurker President and CEO. "Our rebranding and name change reflect the tremendous progress we've made and embody the momentum at EyePoint Pharmaceuticals. Our goal is to establish EyePoint Pharmaceuticals as a leader in developing and launching innovative ophthalmic products in indications with high unmet medical need to improve the lives of patients with serious eye disorders. We are pleased to partner with EW and SWK to assure that we have not only the funding to achieve our goals, but also the deep strategic and healthcare domain expertise to ensure our ability to execute on our strategy." DEXYCU is the first long-acting intraocular product approved by the FDA for the treatment of postoperative inflammation. Cataract surgery is the most frequent surgical procedure in the U.S., with over four million performed annually. The primary endpoint of the DEXYCU placebo-controlled Phase 3 program was to assess the percent of patients achieving total anterior chamber cell clearance at post-surgical Day 8. The percentage of patients with ACC clearance at post-surgical Day 8 was 60% in the DEXYCU treated group versus 20% in the placebo group. The most commonly reported adverse reactions occurring in 5-15% of subjects included an increase in intraocular pressure, corneal edema, and iritis. "DEXYCU offers surgeons a new option to treat post-surgical inflammation with a single injection following surgery, thereby potentially eliminating the need for patients to administer a complex regimen of steroid drops for up to 4 weeks post-surgery which many patients have difficultly adhering to," said Dr. Cynthia Matossian, MD, FACS, who is the founder and Chief Executive Officer of Matossian Eye Associates. EyePoint Pharmaceuticals will trade under the new NASDAQ ticker symbol "EYPT" effective April 2. The former ticker symbol "PSDV" will remain effective through the market close on March 29.

16:33 EDT Federal Circuit Court issues affirmative ruling in Network-1's Cox IPR appeal - Network-1 Technologies (NTIP) announced that the United States Court of Appeals for the Federal Circuit issued its decision in the appeals of four Final Written Decisions of the Patent Trial and Appeals Board of the United States Patent and Trademark Office brought by Google (GOOGL) and YouTube, LLC. In its decision, the Federal Circuit ruled that the PTAB erred in its claim construction of a certain claim term. It vacated certain rulings of the PTAB's Final Written Decisions in favor of Network-1 based on that claim construction and remanded the four cases to the PTAB for further proceedings to address the claims that contained the term that was erroneously construed. The Federal Circuit left undisturbed the PTAB's findings that the remaining claims of the patents (that did not include this claim term) are not invalid. This is the latest decision in Network-1's longstanding dispute with Google and YouTube over infringement of certain patents of Network-1's Cox Patent Portfolio. As previously announced, in January 2018, the Federal Circuit affirmed the Final Written Decision of the PTAB in favor of Network-1 relating to a Covered Business Method Review challenge made by Google and YouTube to the patentability of U.S. Patent No. 8,904,464, another patent in Network-1's Cox Patent Portfolio, which is the subject of the litigation initiated by Network-1 in December 2014. As a result of the Federal Circuit's decisions in the appeals of the IPR and CBM proceedings, several of the claims being asserted in the District Court Litigations have been found not invalid. The District Court Litigations were stayed pending the Federal Circuit proceedings.

16:31 EDT BankFinancial extends, expands share repurchase program - BankFinancial Corporation announced that its board of directors has extended the expiration date of the company's share repurchase authorization from June 30, 2018 to April 30, 2019, and has increased the number of shares that can be repurchased in accordance with the authorization by 500,000 shares. The company is extending the expiration date and increasing the amount of shares authorized for repurchase as part of its continued efforts to further improve total shareholder return, and expects repurchases may offset the distribution of shares related to the termination of the BankFinancial National Association Employee Stock Ownership Plan. Pursuant to this extended and increased share repurchase authorization, there are 665,476 shares of common stock authorized for repurchase through April 30, 2019. The authorization permits shares to be repurchased in open market or negotiated transactions, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The authorization will be utilized at management's discretion, subject to price, volume and other internal limitations that will be established by the company's board of directors, and to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. Share repurchases will be funded from available working capital.

16:26 EDT pSivida announces 'transformative' acquisitions, to rebrand itself - pSivida announced the acquisition of Icon Bioscience . Icon is a specialty biopharmaceutical company whose lead product DEXYCU, dexamethasone intraocular suspension, 9% is FDA approved for postoperative inflammation and is administered as a single dose at the end of ocular surgery. DEXYCU is the first long-acting intraocular product approved by the FDA for the treatment of postoperative inflammation. DEXYCU utilizes Icon's proprietary Verisome drug-delivery platform which allows for a single injection that releases over time.The company has entered into a financial agreement with EW Healthcare Partners. EW Healthcare Partners and a third party investor will make equity investments in pSivida for a total of up to approximately $60.5M. In addition, SWK Holdings has agreed to provide pSivida with up to $20M in a debt facility. The company will use these resources to finance the Icon acquisition and prepare for the commercial launches of DEXYCU and, if approved by FDA, Durasert micro-insert for the treatment of non-infectious uveitis affecting the posterior segment of the eye. The company has entered into a financial agreement with EW Healthcare Partners. EW Healthcare Partners and a third party investor will make equity investments in pSivida for a total of up to approximately $60.5M.

16:23 EDT John W. Jordan II reports 6.12% passive stake in Solar Senior Capital

16:18 EDT DST Systems shareholders approve merger with SS&C - DST Systems (DST) stockholders voted to approve the company's merger with SS&C (SSNC). DST entered into a definitive agreement wherein SS&C will acquire DST in an all-cash transaction for $84 per share plus assumption of debt. The parties have received all antitrust or competition authority approvals required to consummate the transaction, including early termination of the HSR waiting period. The transaction is currently expected to close in April or May and remains subject to clearances by the relevant financial regulatory authorities and other customary closing conditions.

16:17 EDT New Media acquires The Palm Beach Post & Palm Beach Daily News for $49.3M - New Media Investment Group announced that it has agreed to acquire The Palm Beach Post and the Palm Beach Daily News, in addition to several niche publications and companion websites, from Cox Media Group, LLC for $49.25 million. For over 100 years, The Palm Beach Post has been the leading source of local news and advertising in Palm Beach County and southern Martin County. As the flagship daily newspaper, it has daily circulation of nearly 80,000 and 102,000 on Sundays. Its sister publication, the Palm Beach Daily News, also known as The Shiny Sheet, has been published for 120 years, having been founded to serve the titans of the Gilded Age, who made Palm Beach the nation's premier winter-resort destination. The Shiny Sheet is printed daily from October to May and twice weekly during the summer with daily circulation of over 4,500. Both print publications maintain websites as well as e-editions and news apps for their readers. Across these mediums, more than 44% of adults in the market are reached.

16:16 EDT One Liberty Properties acquires a Pennsburg, PA building for $12.7M - One Liberty Properties announced that it acquired a 291K sqf industrial building on 30.2 acres located in Pennsburg, PA for $12.7 million. The building is net leased through early 2028 to two tenants for an aggregate annual base rent of approximately $874,000 which increases 2% annually.

16:15 EDT GameStop up almost 2% after reporting Q4 earnings, giving FY18 guidance

16:12 EDT GameStop sees FY18 comparable SSS flat to down 5%

16:11 EDT Peoples Bancorp receives regulatory approval for merger with ASB Financial - Peoples Bancorp announced that it has received all necessary regulatory approvals for the merger between Peoples and ASB Financial Corp. and for the merger between Peoples Bank and ASB's wholly owned subsidiary, American Savings Bank, fsb. On March 9, the shareholders of ASB approved the merger with Peoples through adoption of the previously announced definitive merger agreement, pursuant to which ASB will merge with and into Peoples, and American Savings Bank will subsequently merge with and into Peoples Bank. Peoples expects that the closing of the merger with ASB will occur early in the second quarter of 2018. Completion of the merger remains subject to the satisfaction of customary closing conditions set forth in the merger agreement.

16:09 EDT Gabelli reports 7.54% stake in Full House Resorts

16:07 EDT Five Prime initiates dosing in Phase 1 trial of B7-H4 Antibody FPA150 - Five Prime Therapeutics announced that it initiated patient dosing in its Phase 1 clinical trial of FPA150, a first-in-class immuno-oncology antibody that targets B7-H4. Five Prime designed the Phase 1 trial of monotherapy FPA150 with a dose-escalation phase in patients with solid tumors, followed by dose expansion in pre-specified cohorts in tumor types based on B7-H4 expression levels. The initial targeted tumors are advanced or metastatic breast, ovarian, endometrial and bladder cancers. Phase 1a dose escalation endpoints include identification of a maximum tolerated dose, safety, and pharmacokinetics of FPA150. Phase 1b dose expansion endpoints include objective response rate, as well as safety and PK.

16:02 EDT Brooks Automation to acquire Tec-Sem Group AG for about $16M - Brooks Automation announced that it has executed a definitive agreement to acquire Tec-Sem Group AG, a provider of semiconductor fab automation equipment with a focus on reticle management. Tec-Sem is headquartered in Tgerwilen, Switzerland with a sales and service team supporting customers worldwide. The total cash purchase price of the acquisition will be approximately $16M, subject to customary working capital and other adjustments. The acquisition is expected to close in early April upon satisfaction of customary closing conditions. Tec-Sem generated approximately $14M of revenue in the calendar year ended December 31, 2017. Management expects the acquisition will become accretive to Brooks' non-GAAP earnings within the current fiscal year. At the anticipated April closing Brooks will acquire approximately 93% of Tec-Sem's outstanding capital stock. The remaining minority interest will be acquired in due course upon completion of subsequent procedural steps.

15:33 EDT LivaNova commences clinical study for outcomes of VNS therapy - LivaNova announced the launch and enrollment of the first patient in a clinical study to examine the use of LivaNova's new microburst vagus nerve stimulation therapy, or VNS Therapy System. This feasibility study will determine the initial safety and effectiveness of delivering VNS Therapy using high frequency bursts of stimulation in patients who have drug-resistant epilepsy, or DRE. The pre-market study consists of two cohorts, enrolling up to 40 patients in total at approximately 15 sites in the United States. Cohort 1 will include 20 patients with primary generalized tonic-clonic seizures. Cohort 2 will consist of 20 patients with partial onset seizures, including complex partial seizures with or without secondary generalization. Each patient will participate in the study for a minimum of 15 months. Primary endpoints will measure the percent change in seizure frequency and occurrence of stimulation-related adverse events in comparison to a patient's baseline. Activation of various areas of the brain in response to stimulation will be assessed using functional magnetic resonance imaging or fMRI. Secondary endpoints will be evaluated to assess changes from baseline in seizure severity, quality of life, antiepileptic drug use, suicidality and adverse events.

15:05 EDT Laurie Albrent reports 7.321% passive stake in Switch

14:33 EDT Zion Oil & Gas to commence well testing on Megiddo Jezreel #1 well - Zion Oil & Gas announced earlier that it has finalized procurement details for equipment and personnel needed to commence well testing on its Megiddo Jezreel #1 well. Zion also announced that its Annual Shareholder Meeting will be held on Tuesday, June 5. Zion's CEO, Victor G. Carrillo, added, "We, like our shareholders, are anxious to know whether the MJ #1 well will be a commercial success and we thank you for your patience. We recognize that it can be distracting when there are false rumors being spread about Zion. We are aware of these untruths and we deny and rebuke them."

14:14 EDT Tesla near 12-month low after crash, credit downgrade on production delay - Tesla (TSLA) shares have dropped to their lowest level in twelve months after reports of a fatal crash near Mountain View, California last week. The crash involving a Tesla Model X. The crash occurred last Friday on California's Route 101, when the driver of the Tesla crashed headfirst into the safety barrier section of a divider that separates the carpool lane from the off-ramp to the left, according to media reports. TESLA COMMENTS: "The reason this crash was so severe is that the crash attenuator, a highway safety barrier which is designed to reduce the impact into a concrete lane divider, had either been removed or crushed in a prior accident without being replaced," Tesla wrote in the blog post Tuesday. NTSB INVESTIGATION: The National Transportation Safety Board, or NTSB, said two investigators are conducting a field investigation on a fatal crash involving one of the company's vehicles. ANALYST VIEWS: In a note to investors, Citi analyst Itay Michaeli opened a 90-day "downside catalyst watch" on the company's shares ahead of an expected update on its first quarter deliveries and production. Meanwhile, Morgan Stanley analyst Adam Jonas attributed recent weakness in Tesla shares to a combination of continued delays in the ramp-up of Model 3 production, negative headlines on autonomous cars, a credit rating downgrade by Moody's, and a broader weakness in tech stocks. He recommended using any further weakness from here as an opportunity to build an Equal Weight position in the stock, noting that its current share price leaves Tesla's stock midway between his base case and bear case valuation. While the stock trades below his assessment of fair value, Jonas kept an Equal Weight rating on Tesla shares, as he believes that the risks associated with it are higher than an average North American automotive and shared mobility stock. Jonas maintains a $379 price target on Tesla shares. PRICE ACTION: Tesla shares off earlier lows, trading just above $255 per share in afternoon trading.

13:17 EDT Nasdaq launches Nasdaq Fund Network to expand market transparency - Nasdaq announced the expansion and relaunch of Nasdaq's Mutual Fund Quotation Service as Nasdaq Fund Network. Nasdaq Fund Network is a global investment product information service bringing greater efficiency and transparency to the world's financial markets.

13:05 EDT Air T chairman Nicholas John Swenson buys over 5,000 shares of company stock - John Nicholas Swenson, the chairman of Air T, disclosed in a filing that he had purchased 5,212 shares of company common stock at an average price of $24.99 per share for a total purchase price of $130,248 on March 27.

12:34 EDT Toyota recalls 1,730 Camry vehicles over faulty pistons - Toyota Motor North America announced that it is conducting a safety recall in the U.S. on 1,730 Model Year 2018 Camry vehicles. The involved vehicle's engine may be equipped with pistons from a particular production period that were produced with a diameter larger than the specification. In certain conditions, this may cause the vehicle to run rough, create an abnormal sound, emit smoke from the exhaust, and illuminate warning lights and messages. In some cases, a reduction of power may occur and the engine could stop running. A vehicle's engine which stops while driving at higher speeds can increase the risk of a crash.

12:09 EDT NEX confirms GBP 10 per share takeover proposal from CME - The board of NEX Group confirms it has received a non-binding proposal from CME Group regarding a potential acquisition of NEX at a price of GBP 10 per share. NEX said, "Discussions are at an advanced stage; there can be no certainty that an offer for NEX will be made, nor as to the terms of any offer." Shares of CME Group are up 20c to $159.20.

12:01 EDT Netflix appoints former Ambassador Susan Rice to board of directors - Netflix announced the appointment to its board of directors of Ambassador Susan Rice, a former U.S. National Security Advisor and Ambassador to the United Nations. "We are delighted to welcome Ambassador Rice to the Netflix board," said Netflix co-founder and CEO Reed Hastings. "For decades, she has tackled difficult, complex global issues with intelligence, integrity and insight and we look forward to benefiting from her experience and wisdom."

11:36 EDT LaSalle Hotel confirms unanimous rejection of Pebblebrook's unsolicited proposal - LaSalle Hotel Properties (LHO) confirmed that its Board of Trustees unanimously rejected an unsolicited proposal received on March 6, 2018 from Pebblebrook Hotel Trust (PEB) to acquire all outstanding shares of LaSalle in an all-stock transaction with consideration of 0.8655 common shares of Pebblebrook per common share of LaSalle. In consultation with its financial and legal advisors, the Board thoroughly analyzed the proposal and concluded that it is insufficient in both price and mix of consideration and is not in the best interests of the company's shareholders. "Consistent with our fiduciary duties, the Board has taken the time to carefully evaluate the proposal and the future potential of a combined company, and we have concluded that the proposal is grossly inadequate and is, therefore, not in the best interests of our shareholders," said Stuart L. Scott, Chairman of the Board. "The Board is focused on the continued execution of our strategic plan, prudent capital allocation, and our superior hotel portfolio, which will deliver greater value, sooner to our shareholders than Pebblebrook's low-premium proposal." Scott continued, "With our outstanding assets, solid balance sheet and strong cash flow, we are well-positioned to execute strategically on near-term and long-term opportunities, which will enable us to drive growth and return capital to shareholders through dividends and share repurchases. Of course, the Board continues to be open-minded and will consider any alternatives that enhance long-term shareholder value; however, this proposal does not achieve that objective."

11:19 EDT JPMorgan says buy Twitter after Citron stokes data licensing fears - In a research note this morning, JPMorgan analyst Doug Anmuth told investors that concerns over Twitter's (TWTR) data licensing are "overdone" and reiterated a buy-equivalent rating on the shares. This comes after noted short-seller Citron Research recommended shorting the stock of the microblog operator. Along with Facebook (FB) and Google (GOOG, GOOGL), Twitter is being called to a senate hearing on data privacy and Citron sees a "scary answer" to the question of how reliant Twitter is on data licensing. CONCERNS 'OVERDONE': Twitter's data licensing business has come under increased scrutiny over the last several days in the wake of Facebook's data and privacy issues, along with broader concerns around targeting in online advertising and the potential for regulation, JPMorgan's Anmuth told investors. However, the analyst argued that he believes the data licensing concerns are "overdone." While Anmuth acknowledged that Twitter is providing enterprises and approved developers with access to its public firehose of data for use cases such as evaluating brand sentiment, understanding consumer trends, and providing customer service, he believes Twitter is primarily providing aggregated and anonymized data at an enterprise level. Twitter's APIs "simply make its already publicly available information more accessible at scale," he contended. Further, the analyst noted that data licensing customers do not gain access to users' private Direct Messages. Broader industry headlines around use of data and potential regulation may be around for some time, but the pullback in Twitter shares on data licensing concerns is "overdone," he contended, adding that he would take advantage of recent weakness. Anmuth reiterated an Overweight rating and $36 price target on Twitter's shares, adding that it remains his favorite small-to-mid-cap name in the Internet space. CITRON SAYS GO SHORT: Yesterday, Citron Research, which noted that it was previously bullish on Twitter in the low $20's, published a new report in which it recommends shorting the stock with a short-term target of $25 per share. With Facebook and Google, Twitter is being called to a senate hearing on data privacy on April 10 and Citron sees a "scary answer" to the question of how reliant Twitter is on data licensing. An acquisition of Twitter by another party is "far less likely until these companies clean house with regard to privacy concerns and selling user data," Citron added in its report. DATA LICENSING BUSINESS NOT SELLING DM: In a series of tweets from @TwitterComms, the company's account for sharing news about Twitter, Twitter's PR team stated: "Twitter is public by its nature. Public Tweets are viewable and searchable by anyone. This is the power of Twitter. [...] To be clear - our data licensing business does not sell DMs. Any reports to the contrary are wrong. [...] Our data licensing business helps capture the amazing uses of Twitter by building on that public data." PRICE ACTION: In late morning trading, Twitter is fractionally higher at $28.20 per share.

11:05 EDT Hanover Insurance retains Goldman to explore sale of Chaucer unit - The Hanover Insurance Group confirmed it is undertaking a review of strategic alternatives, including a possible sale, for London-based Chaucer, its international specialty insurance business. The company has retained Goldman Sachs to serve as its adviser through the process. Hanover declined in today's statement to provide additional details.

10:38 EDT Hanover Insurance trading halted, news pending

10:26 EDT Trump Effect: Amazon slides as president said to take aim at tax treatment - Shares of Amazon (AMZN) are slipping this morning after Axios reported that President Donald Trump may want to go after the e-commerce giant rather than Facebook (FB) and has discussed changing the former's tax treatment. AFTER AMAZON, NOT FACEBOOK: According to a report by Axios, President Trump wants to go after tech giant Amazon rather than Facebook and has discussed changing the company's tax treatment due to concerns about small retailers being put out of business. Citing five sources familiar with the matter, the publication added that Trump has wondered if there is any way to go after Amazon with antitrust or competition law as he thinks the e-commerce giant has gotten a free ride from taxpayers and the Postal service and agrees the company is killing shopping malls and brick-and-mortar retailers. "The whole post office thing, that's very much a perception he has," a source said. "It's been explained to him in multiple meetings that his perception is inaccurate and that the post office actually makes a ton of money from Amazon." VICE-PRESIDENT CONCERNED OVER FACEBOOK, GOOGLE: Nonetheless, the same Axios' article pointed out that Vice-President Mike Pence is concerned about Facebook and Google (GOOG; GOOGL). While Pence is not yet pushing internally for any specific regulations, he views these companies as dangerously powerful and worries about their influence on media coverage as well as their control of the advertising industry and users' personal info, a source told the publication. FACEBOOK POLICY CHANGE: Facebook, embroiled recently in a scandal over the way it has handled users' personal data, has announced a privacy policy change. According to Erin Egan, VP and Chief Privacy Officer, Policy and Ashlie Beringer, VP and Deputy General Counsel at Facebook: "We've heard loud and clear that privacy settings and other important tools are too hard to find and that we must do more to keep people informed. [...] We've redesigned our entire settings menu on mobile devices from top to bottom to make things easier to find. [...] We're introducing Access Your Information - a secure way for people to access and manage their information, such as posts, reactions, comments, and things you've searched for. You can go here to delete anything from your timeline or profile that you no longer want on Facebook. It's also our responsibility to tell you how we collect and use your data in language that's detailed, but also easy to understand. In the coming weeks, we'll be proposing updates to Facebook's terms of service that include our commitments to people." PRICE ACTION: In morning trading, shares of Amazon have dropped nearly 5% to $1,426, while Facebook's stock has gained over 1% to $153.99. "Trump Effect" is The Fly's recurring series of exclusive stories that highlight stocks that are being impacted, or are predicted to be impacted, by the comments, actions and policies of President Trump and his administration.

09:41 EDT Tesla says crash was worsened by missing freeway barrier shield - In a blog post called "What We Know About Last Week's Accident," Tesla says: "We were deeply saddened to learn that the driver of a Model X vehicle involved in an accident last Friday passed away. Safety is at the core of everything we do and every decision we make, so the loss of a life in an accident involving a Tesla vehicle is difficult for all of us. Earlier this week, Tesla proactively reached out to the authorities to offer our assistance in investigating. While we do not yet know what happened in the moments leading up to the accident, and we do not yet have any idea what caused it, here is what we do know: Due to the extensive damage caused by the collision, we have not yet been able to retrieve the vehicle's logs. We are currently working closely with the authorities to recover the logs from the computer inside the vehicle. Once that happens and the logs have been reviewed, we hope to have a better understanding of what happened. Our data shows that Tesla owners have driven this same stretch of highway with Autopilot engaged roughly 85,000 times since Autopilot was first rolled out in 2015 and roughly 20,000 times since just the beginning of the year, and there has never been an accident that we know of. There are over 200 successful Autopilot trips per day on this exact stretch of road. The reason this crash was so severe is that the crash attenuator, a highway safety barrier which is designed to reduce the impact into a concrete lane divider, had either been removed or crushed in a prior accident without being replaced. The following image shows what the barrier looked like when the crash attenuator was in proper condition, and what it looked like the day prior to the crash, based on dash cam footage from a witness of the accident who commutes daily past this location. We have never seen this level of damage to a Model X in any other crash." Reference Link

09:34 EDT Nevada reports February statewide gaming win up 7.68% to $1.017B - Nevada's Gaming Control Board reports February Las Vegas Strip gaming win up 11.37% to $603.49M. Publicly traded companies in the casino space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).

09:14 EDT LivaNova commences clinical study for outcomes of VNS therapy - LivaNova announced the launch and enrollment of the first patient in a clinical study to examine the use of LivaNova's new microburst vagus nerve stimulation therapy, or VNS Therapy System. This feasibility study will determine the initial safety and effectiveness of delivering VNS Therapy using high frequency bursts of stimulation in patients who have drug-resistant epilepsy, or DRE. The pre-market study consists of two cohorts, enrolling up to 40 patients in total at approximately 15 sites in the United States. Cohort 1 will include 20 patients with primary generalized tonic-clonic seizures. Cohort 2 will consist of 20 patients with partial onset seizures, including complex partial seizures with or without secondary generalization. Each patient will participate in the study for a minimum of 15 months. Primary endpoints will measure the percent change in seizure frequency and occurrence of stimulation-related adverse events in comparison to a patient's baseline. Activation of various areas of the brain in response to stimulation will be assessed using functional magnetic resonance imaging or fMRI. Secondary endpoints will be evaluated to assess changes from baseline in seizure severity, quality of life, antiepileptic drug use, suicidality and adverse events.

09:07 EDT CommScope names Alexander Pease CFO - Alexander Pease has been named executive vice president and CFO of CommScope effective April 2. Pease succeeds Mark Olson, who, as previously announced, is retiring from the company. Pease is an experienced leader who brings to CommScope more than 18 years of extensive financial and operational experience across a wide range of industries, including serving as CFO at two publicly-owned companies.

09:06 EDT Apple announces collaboration with Chicago Public Schools and Northwestern - Apple announced a new collaboration with Chicago Public Schools and Northwestern University to offer free professional learning to teachers across Chicago, designed to give educators the tools they need to bring coding and computer science into the classroom. Together, Apple, Chicago Public Schools and Northwestern University will establish a Center for Excellence at Lane Tech College Prep High School in Chicago, which will serve as a teaching and learning hub to introduce high school teachers to Apple's Everyone Can Code curriculum. In addition to free professional learning sessions at the Center for Excellence, participating educators will also have access to in-school coaching and mentorship opportunities to ensure they are comfortable teaching the complete Everyone Can Code curriculum. Apple will provide iPads, Macs, carts and accessories to support the hands-on learning at the Center for Excellence. Apple will develop the teacher training in collaboration with Northwestern University and professors from Northwestern will lead the sessions.

09:05 EDT BMW, Daimler merge mobility services units via new joint-venture - BMW Group (BMWYY) and Daimler AG (DDAIF) signed an agreement to merge their mobility services business units. Subject to examination and approval by the responsible competition authorities, BMW and Daimler plan to combine and expand their existing on-demand mobility offering in the areas of CarSharing, Ride-Hailing, Parking, Charging and Multimodality. Each company will hold a 50% stake in a joint-venture model comprising both companies' mobility services. "The two companies will remain competitors in their respective core businesses," both said in a statement. They added, "The aim of this transaction is to become a leading provider of innovative mobility services. Both automotive manufacturers aim to shape the mobility of the future to be able to offer their customers unique experiences and support their partners, such as cities and communes, in achieving sustainable urban mobility...The formation of the joint venture will produce a significant valuation and earnings effect at Daimler Financial Services. If the approval of the competition authorities is received this year, following adjustments will be made to the group outlook for Daimler AG: The company expects EBIT for Daimler Financial Services to be significantly higher than the previous year; for the Group as a whole, this means EBIT is likely to be slightly higher than the previous year. If approved by the relevant authorities in the course of this year, the formation of the joint venture will trigger a one-time valuation and earnings effect in the BMW AG's group financial statement and thus lead to an adjustment of the company's guidance: Under these circumstances, pre-tax earnings on Group level would increase slightly in 2018 compared with the previous year. The valuation and earnings effect would have no impact on the EBIT margin in the automotive segment."

09:03 EDT Equifax names Mark Begor as CEO, effective April 16 - Equifax announced that its Board of Directors has concluded its previously announced CEO search process and appointed Mark Begor as CEO, effective April 16. Begor will also become a member of the Equifax Board of Directors. Begor joins Equifax from Warburg Pincus, where he served as a Managing Director and focused on operational improvements across portfolio companies within the firm's Industrial and Business Services group. Begor will succeed Paulino do Rego Barros, Jr., who has served as interim CEO of Equifax since September 2017. Paulino has announced that he will retire from Equifax in early 2019 and will assist Begor in his transition over the coming months. In addition to the roles mentioned above, Begor serves on the Board of Directors of FICO and on the Boards of several Warburg Pincus portfolio companies. He will be resigning these Board seats prior to his start date of April 16.

08:57 EDT Walgreens Boots Alliance to invest $100M/year in increased wages later this year - "In the U.S. we are preparing to invest around 100 million dollars per annum in increased wages beginning later this calendar year."

08:51 EDT Cogint announces spinoff of Red Violet, names Ryan Schulke CEO - Cogint (COGT) announced the successful completion of the spin-off of Red Violet (RDVT), its risk management business. Following this transaction, Fluent, a cogint subsidiary, will be cogint's sole operating business. As part of the transaction, the company announced the appointment of the Fluent management team, including Ryan Schulke, Matthew Conlin, Ryan Perfit, and Don Patrick, as the company's new leadership team and reconstituted its board to five members, with Schulke and Conlin joined by incumbents Peter Benz and Don Mathis and a new appointee, Andrew Frawley. Schulke and Conlin, the co-founders of Fluent, were appointed as the company's CEO and president. Patrick, the newest member of Fluent's management team, was appointed the company's COO. Patrick, a seasoned executive, previously served as President of Infogroup Marketing Services.Ryan Perfit was appointed the company's Interim CFO.

08:51 EDT Walgreens Boots Alliance CEO says 'we are as optimistic as we have always been'

08:48 EDT Walgreens Boots Alliance reports Q2 operating cash flow $2.2B - Reports 1H18 free cash flow $2.5B.

08:44 EDT T2 Biosystems says diagnostics improve detection of sepsis causing pathogens - T2 Biosystems announces the publication of four new, peer-reviewed studies that demonstrate the clinical and performance advantages of the T2Dx Instrument over blood culture. The T2Dx Instrument runs the T2Candida and T2Bacteria Panels, which detect and identify pathogens that cause sepsis. The studies were conducted in the United States and Europe and all published today in the Journal of Antimicrobial Chemotherapy.A study conducted at Gemelli Hospital in Rome, Italy, reported several highlights regarding usage of the T2Bacteria Panel on the T2Dx Instrument: Positive results for a bacterial infection with T2Bacteria were available in 5.5 hours, compared to a mean time of 25 hours for blood culture. Every hour of providing targeted therapy to patients faster can reduce patient mortality rates by 7.6%. A negative result took 120 hours for blood culture, compared to 6.1 hours with the T2Bacteria Panel. The T2Bacteria Panel had 89.5% sensitivity and 98.4% specificity in comparison with clinical criterion of a true infection. The authors point out that blood culture-based diagnostics have a sensitivity as low as 65% for the first blood culture draw. The authors found that 66.7% of the clinically infected patients missed by blood culture and correctly identified by T2Bacteria were being inappropriately treated at the time of the T2Bacteria result. A study conducted at Lee Health in Florida found:Patients suspected of a Candida infection that were tested on the T2Dx received targeted therapy nearly 6 times faster, in only 6 hours compared to conventional practices that took 34 hours. Due to the more targeted use of antifungal drugs, the average duration of antifungal therapy with T2Dx testing was reduced by 4 days and therapy was discontinued after a single dose or avoided altogether in 58.4% of patients, leading to significant pharmacy savings and with no adverse impact on patient mortality. The authors estimate savings in antifungal costs after T2Candida testing was introduced at an average of $280 per patient tested. Finally, two studies from Gregorio Maranon Hospital in Madrid, Spain reported findings about the ability of the T2Candida Panel to predict patient outcomes: Positive T2Candida Panel results identified patients who had an over 30x increased likelihood of developing health complications, including mortality. The T2Candida Panel is a better predictor of patients at risk of having poor outcomes than existing diagnostic tests. A negative T2Candida Panel result may significantly shorten the duration of antifungal therapy for 67% of patients. Improved distinction between complicated and uncomplicated infection: The T2Candida Panel distinguishes between complicated and uncomplicated infection better than available diagnostic tests.

08:39 EDT Walgreens Boots Alliance reports Q2 Retail Pharmacy USA sales up 12.2% to $24.5B - Reports Q2 Retail Pharmacy USA: comparable store sales up 2.4%; prescriptions up 9.1%; market share up approximately 100 bps to 21.4%.

08:37 EDT Interpace Diagnostics announces agreement with Acupath Laboratories - Interpace Diagnostics Group announced that the company has entered into a Laboratory Services Agreement with Acupath Laboratories whereby Acupath's Commercial team will be selling ThyGenX and ThyraMIR as part of its menu for Endocrinologists, Endocrine Surgeons, and other physicians focused on the diagnosis and treatment of Thyroid cancer.

08:35 EDT On Track Innovations Europa signs contract with Warsaw Transport Authority - On Track Innovations' European branch, OTI Europa, has signed a contract with the Public Transport Authority in Warsaw for the design, execution and implementation of the "Kasa +" system to support Passenger Service Points in and around Warsaw. The contract is the result of a public tender won by OTI Europa and is expected to be completed over the next 13 months, with a value of approximately $300K to OTI.

08:32 EDT AirMedia CEO makes share repurchase of up to $5M - AirMedia Group CEO and chairman of the board of directors Herman Man Guo intends to purchase AirMedia's ordinary shares in the form of American depositary shares with an aggregate value of up to $5M during the next six months. Guo expects to fund the purchase with his own resources.

08:25 EDT BlackBerry expects positive FCF in FY19 - Says pleased with performance in the quarter and in FY18. Says will adopt new revenue recognition standard in Q1. Expects continued investment in R&D and marketing in FY19. Comments taken from Q4 earnings conference call.

08:18 EDT Camping World to acquire Dixie RV Superstore - Camping World announced that an agreement has been signed to acquire Dixie RV Superstore located in Newport News, Virginia. The acquisition of Dixie RV Superstore is in line with Camping World's future growth plans and the company expects to soon announce several additional markets of expansion throughout the country in 2018.

08:10 EDT UniFirst raises quarterly dividend to 11.25c per share - UniFirst announced that it will be raising its quarterly dividend to 11.25c per share for Common Stock and to 9c per share for Class B Common Stock, up from 3.75c and 3c per share, respectively. Both of these decisions were reviewed and approved as part of the Board of Directors' ongoing evaluation of UniFirst's capital allocation strategy.

08:08 EDT Pebblebrook Hotel trading halted, news pending

08:07 EDT Biocept, Thermo Fisher enter technology, commercial collaboration - Biocept (BIOC) announces that it has entered into a non-binding memorandum of understanding with Thermo Fisher Scientific (TMO) to collaborate together commercially. In the first phase of the collaboration, the parties plan to work together to validate Thermo Fisher's Oncomine next-generation sequencing liquid biopsy panels in Biocept's CLIA-certified laboratory. Once validation is complete in addition to other requirements, Thermo Fisher intends to designate Biocept as a "Center of Excellence" for oncology-focused liquid biopsy initiatives and jointly pursue various commercial opportunities. The companies intend to initially target the pharmaceutical industry to provide diagnostic testing services for drug development, to support clinical trials, and for companion diagnostic initiatives. The collaboration also includes a plan to evaluate the feasibility of developing best-in-class products based on the integration of Biocept's Target Selector technology with Thermo Fisher's Ion Torrent NGS platform and Oncomine liquid biopsy-based NGS panels.

08:05 EDT MiMedx enrolls first patient in Phase 2B trial of AmnioFix for knee OA - MiMedx has enrolled the first patient in the company's Phase 2B Investigational New Drug clinical trial to assess the safety and efficacy of AmnioFix Injectable as a treatment for pain associated with Osteoarthritis of the knee. By granting the RMAT designation to AmnioFix Injectable for use in the treatment of OA of the knee, the FDA commits to taking specific actions to facilitate the development of the product. These actions may also include an accelerated and priority review. This Phase 2B, prospective, double blinded, randomized controlled trial will enroll approximately 318 patients at 20 centers. The primary safety endpoint is the incidence of adverse events, serious adverse events, and unanticipated adverse events during the first 12 months post injection in the AmnioFix Injectable group versus the placebo-controlled group.

08:03 EDT Nasdaq raises quarterly dividend to 44c per share from 38c per share - The board has declared a regular quarterly dividend of 44c per share on the company's outstanding common stock, an increase of 16% from the 38c per share quarterly dividend. The dividend is payable on June 29, 2018 to shareowners of record at the close of business on June 15, 2018.

08:01 EDT CACI withdraws offer to acquire CSRA

07:55 EDT Rite Aid completes store transfers to Walgreens Boots Alliance - Rite Aid Corporation (RAD) provided an update on the progress of its plans to sell assets to Walgreens Boots Alliance (WBA) pursuant to the previously disclosed amended and restated asset purchase agreement, dated as of September 18, 2017. Rite Aid has completed the store transfer process, and all 1,932 stores and related assets have been transferred to WBA in exchange for cash proceeds of $4.157B. The transfer of the three distribution centers and related inventory is expected to begin after September 1. The majority of the closing conditions have been satisfied, and the transfers of Rite Aid distribution centers and related assets remain subject to minimal customary closing conditions applicable only to the distribution centers being transferred at such distribution center closing, as specified in the asset purchase agreement. Rite Aid also announced that its board has terminated the tax benefits preservation plan that it adopted on January 3. As a result of the plan, Rite Aid protected approximately $2.2B of Rite Aid's net operating losses.

07:47 EDT Precipio files patent for cell capture device for gynecological cancer detection - Precipio announced the filing of a provisional patent for its innovative medical device candidate intended to address the challenge of early detection of gynecological cancers, including ovarian, cervical, endometrial and uterine. Internally named "Juno" and developed by Precipio's R&D team in collaboration with Dr. Gil Mor, Yale University Professor of Obstetrics and Gynecology, Juno is a proprietary panty liner device that, in internal testing, the company said it believes "has successfully demonstrated the ability to collect and preserve cells from vaginal discharge, potentially enabling the identification of abnormal cells that may indicate the presence of cancer." The panty liner, worn overnight, is designed to collect vaginal discharge and to be sent to a laboratory where cellular and genomic analysis could be conducted on the collected cells to identify malignancies.

07:42 EDT Enanta to present data on development programs at International Liver Congress - Enanta Pharmaceuticals announced that data from Enanta's wholly-owned development programs, including EP-027367, one of Enanta's novel core inhibitors in preclinical testing for hepatitis B virus, or HBV, and EDP-305, an FXR agonist in development for non-alcoholic steatohepatitis, or NASH, and primary biliary cholangitis, or PBC, have been accepted for presentation at The International Liver Congress. EP-027367, one of several core inhibitors Enanta is evaluating, has been selected for an oral presentation. There will also be three posters on EDP-305, which is currently in a Phase 2 study for NASH and a Phase 2 study for PBC. The FDA has granted EDP-305 Fast Track designation for the treatment of NASH patients with liver fibrosis.

07:32 EDT Accuray's Radixact systems selected by Apollo Hospitals in India - Accuray has signed an agreement with the Apollo Hospitals Group in Chennai and New Delhi, India, for the acquisition of two Radixact Systems radiation therapy devices. The orders were entered into backlog during Accuray's Q3.

07:30 EDT Edge Therapeutics trading resumes

07:17 EDT Correction: Plantronics acquiring Polycom, not Points International

07:14 EDT Plantronics to acquire Polycom for $2B in cash, stock deal

07:12 EDT Edge Therapeutics decides to discontinue Phase 3 NEWTON 2 study - Edge Therapeutics announced that a pre-specified interim analysis performed on data from the Day 90 visit of the first 210 subjects randomized and treated in the Phase 3 NEWTON 2 study of EG-1962 in adults with aneurysmal subarachnoid hemorrhage demonstrated a low probability of achieving a statistically-significant difference compared to the standard of care in the study's primary endpoint, if the study is fully enrolled. The independent Data Monitoring Committee recommended that the study be stopped based on its conclusion that the study has a low probability of meeting its primary endpoint. Favorable outcome was defined as a score of 6 to 8 on the extended Glasgow Outcome Scale, or GOSE, at Day 90. The DMC also reported that there were no safety concerns attributed to EG-1962. Based on the DMC recommendation, Edge has decided to discontinue the NEWTON 2 study and has taken steps to notify health authorities and clinical investigators participating in the study. Edge will perform analyses of the cumulative unblinded data from the NEWTON 2 study to better understand the basis for this outcome. Edge will assess the next steps for the company, but anticipates in the near term reducing the scope of its operations, including the size of its workforce, in order to preserve its cash resources, which were $88.1M as of December 31, 2017.

07:10 EDT Facebook introducing central page for privacy, security settings - Erin Egan, VP and Chief Privacy Officer, Policy and Ashlie Beringer, VP and Deputy General Counsel at Facebook, said "Last week showed how much more work we need to do to enforce our policies and help people understand how Facebook works and the choices they have over their data. We've heard loud and clear that privacy settings and other important tools are too hard to find and that we must do more to keep people informed. So in addition to Mark Zuckerberg's announcements last week - cracking down on abuse of the Facebook platform, strengthening our policies, and making it easier for people to revoke apps' ability to use your data - we're taking additional steps in the coming weeks to put people more in control of their privacy. Most of these updates have been in the works for some time, but the events of the past several days underscore their importance. We've redesigned our entire settings menu on mobile devices from top to bottom to make things easier to find. Instead of having settings spread across nearly 20 different screens, they're now accessible from a single place. People have also told us that information about privacy, security, and ads should be much easier to find. The new Privacy Shortcuts is a menu where you can control your data in just a few taps, with clearer explanations of how our controls work. We're introducing Access Your Information - a secure way for people to access and manage their information, such as posts, reactions, comments, and things you've searched for. You can go here to delete anything from your timeline or profile that you no longer want on Facebook. It's also our responsibility to tell you how we collect and use your data in language that's detailed, but also easy to understand. In the coming weeks, we'll be proposing updates to Facebook's terms of service that include our commitments to people." Reference Link

07:08 EDT Primoris to acquire Willbros Group in all-cash transaction - Primoris Services Corporation (PRIM) announced that it has entered into a definitive merger agreement to acquire Willbros Group (WG) in an all-cash transaction. Primoris will pay 60c per share for all of the outstanding stock of Willbros and will settle all of the existing Willbros debt obligations, for an enterprise value of approximately $100M. Willbros is a specialty energy infrastructure contractor serving the Oil & Gas and Power industries across its three operating segments: Utility Transmission and Distribution, Oil & Gas, and Canada. Willbros' infrastructure services platform provides a diverse base of utility, natural gas, and renewable customers with comprehensive engineering, construction, maintenance, repair, and restoration solutions. Upon completion of the transaction, Primoris expects the Willbros UTD business to become a new operating segment, Primoris UTD, which continues Primoris' strategic plan for growing its Master Service Agreement revenue base. Primoris anticipates that Willbros' Lineal Oil & Gas operations will be incorporated into Primoris' Utilities & Distribution segment, the Houston-based Oil & Gas facilities operations will become part of Primoris' Pipeline & Underground segment, and the Canadian business will become part of Primoris' Power, Industrial, and Engineering segment. Primoris expects the financial benefits of the transaction to include: For the first 12 months after closing, revenues of approximately $660M, including estimated UTD revenues of $470M, For the first 12 months after closing, EBITDA of $25M, including approximately $7M in annual cost savings, The addition of approximately $400M to Total Backlog, including approximately $300M from the UTD business and within 24-30 months after the closing of the transaction, additional annual cost savings of $7.5 million to $10M. Under the terms of the merger agreement, which was unanimously approved by the Boards of Directors of both Willbros and Primoris, each stockholder of Willbros will receive 60c per share in cash, without interest, which represents a significant premium to the closing price of Willbros common stock on March 27, 2018. In addition, Primoris will settle all of the existing Willbros debt obligations. The transaction has an enterprise value of approximately $100M. Primoris intends to finance the transaction through cash on hand and its existing credit facilities. As part of the transaction, Primoris has agreed to provide Willbros up to $20M in secured bridge financing to support Willbros' working capital liquidity needs prior to the transaction close. The transaction is subject to approval by Willbros stockholders and certain other closing conditions. In connection with the execution of the merger agreement, certain Willbros directors and stockholders, together representing approximately 17% of Willbros' outstanding shares, have entered into voting agreements with Primoris, whereby such stockholders agreed, among other things, to vote in favor of the adoption of the merger agreement. The transaction is expected to be completed in the second quarter of 2018.

07:05 EDT IAMGold reports initial mineral resource estimate for Monster Lake Project - IAMGOLD announced the first mineral resource estimate for the Monster Lake joint venture project - IAMGOLD: 50%, TomaGold: 45%, and Quinto Resources: 5% on the Monster Lake claims block), located 50 kilometres southwest of Chibougamau, Quebec, Canada. The resource estimate comprises 1,109,700 tons of inferred resources averaging 12.14 grams of gold per ton for 433,300 ounces of contained gold. The most significant zone is the 325-Megane Zone which is characterized by its high grade and remains open down plunge at depth.

07:02 EDT Mylan to introduce cost-saving HIV combination - Mylan announced that it will introduce in the U.S. a third cost-saving HIV combination. The U.S. FDA approved Symfi 600 mg/300 mg/300 mg tablets, a once-daily, single-tablet regimen, indicated as a complete regimen for the treatment of human immunodeficiency virus type 1 infection in adult and pediatric patients weighing at least 40 kg.

07:00 EDT Centrus Energy selected by X-energy for nuclear fuel facility support - Centrus Energy has signed a services contract with X Energy to support the design of a facility to produce advanced nuclear fuel. The contract builds upon a memorandum of understanding the companies signed in September 2017 to collaborate toward production of fuel for advanced nuclear reactors. Centrus will provide X-energy, a reactor technology and fuel company, with technical expertise and resources to support conceptual design of a facility to produce X-energy's uranium oxycarbide tristructural isotropic fuel forms. Centrus will also provide facility space to X-energy at Centrus' Technology and Manufacturing Center in Oak Ridge, Tenn. With a view towards the potential formation of a joint entity to perform these activities, on March 26, the companies also entered into an additional Memorandum of Understanding, which defines each party's relative contributions to be considered in the formation of such an entity.

06:47 EDT American Midstream Partners announces Southcross holder approval of merger - American Midstream Partners (AMID) announced that on March 27, 2018, a majority of the Southcross Energy Partners (SXE) unitholders voted to approve the previously announced proposed merger with American Midstream. During a special meeting, unitholders voted on merger-related proposals, which included the merger and a non-binding advisory vote on merger compensation. The merger proposal passed with a vote of more than 95% of votes cast by non-affiliated unitholders, representing approximately 64 percent of all outstanding units held by such unitholders. A majority of the non-affiliated unitholders also approved the advisory merger compensation proposal. The closing of the merger remains subject to certain state level regulatory approvals and the closing conditions described in the definitive proxy statement filed with the Securities and Exchange Commission on February 13, 2018. The merger is expected to close later in the second quarter of 2018.

06:12 EDT Euro Tech Holdings to sell 20% stake of Zhejiang Jiahuan Electronics - Euro Tech Holdings announced that it has recently signed an equity transfer agreement to sell its 20% equity stake of Zhejiang Jiahuan Electronics, or Jia Huan, to an individual, who is the wife of the holder of the remaining 80% equity stake of Jia Huan, for a purchase price of RMB$31.31M. The completion of the transaction is subject to completion of all closing formalities, including the need to obtain approval and registration with the relevant governmental authorities and the receipt of payment from the purchaser. The company's decision to enter into the agreement and dispose of its equity stake in Jia Huan was based upon the intention of Jia Huan's major shareholder to diversify the business of Jia Huan into new areas that are unrelated to its and the company's existing activities.

06:08 EDT Concho Resources says RSP Permian acquisition to add about 92,000 net acres - The acquisition will add approximately 92,000 net acres that strongly complement Concho's (CXO) existing acreage position in the Permian Basin. The combined position will cover more than 640,000 net acres. In fourth-quarter 2017, production on RSP's (RSPP) assets totaled approximately 55.5 thousand barrels of oil equivalent per day on a two-stream basis, of which approximately 80% was crude oil and 20% was natural gas. The transaction adds 2.2B Boe of resource potential, of which more than two-thirds is premium resource. The combined company will run the largest drilling and completion program in the Permian Basin. With a focused portfolio and substantial scale advantage, the benefits of this transaction are expected to drive corporate level savings and operational synergies by combining the complementary assets and the technical skills of both company's employees. Specific operational synergies include: asset optimization, directing capital to high-return manufacturing-style projects and utilizing shared infrastructure systems. The present value of corporate and operational synergies is expected to exceed $2B. The acquisition is expected to be accretive in the first year to Concho's key per-share metrics, including net asset value, earnings, cash flow and debt-adjusted growth. In addition, the transaction is expected to enhance Concho's three-year outlook for annualized production growth on a capital program within cash flow from operations.

06:06 EDT Concho Resources provides highlights of RSP Permian deal - Highlights include: Large, highly-complementary acreage expands Concho's strategic portfolio in the Permian Basin to approximately 640,000 net acres. Reinforces leadership position as the premier Permian pure-play company and creates the largest crude oil and natural gas producer from unconventional shale in the Permian Basin. Combined company to run the largest drilling program in the Permian Basin with 27 rigs. Meaningfully expands premium resource base. Drives significant operational synergies through development optimization, shared infrastructure and capital efficiencies, with a present value of more than $2B. Expect to realize over $60M in annual corporate level savings. Immediately accretive to key per-share metrics, including net asset value, earnings, cash flow and debt-adjusted growth. Expect to maintain investment grade credit ratings. Enhances Concho's three-year annualized production growth outlook within cash flow from operations.

06:03 EDT Concho Resources to acquire RSP Permian in all stock deal valued at about $9.5B - Concho Resources (CXO) and RSP Permian (RSPP) announced they have entered into a definitive agreement under which Concho will acquire RSP in an all-stock transaction valued at approximately $9.5B, inclusive of RSP's net debt. The consideration will consist of 0.320 shares of Concho common stock for each share of RSP common stock. The transaction was unanimously approved by the board of directors of each company. Under the terms of the definitive merger agreement, shareholders of RSP will receive 0.320 shares of Concho common stock in exchange for each share of RSP common stock, representing consideration to each RSP shareholder of $50.24 per share based on the closing price of Concho common stock on March 27, 2018. The consideration represents an approximately 29% premium to RSP's closing price of $38.92 on March 27, 2018. Upon closing of the transaction, Concho shareholders will own approximately 74.5% of the combined company, and RSP shareholders will own approximately 25.5%. The resulting capital structure is consistent with Concho's long-term strategy of maintaining a strong financial position. The transaction, which is expected to be completed in the third quarter of 2018, is subject to the approval of both Concho and RSP shareholders, the satisfaction of certain regulatory approvals and other customary closing conditions. Upon closing, Concho's board will be expanded to 11 directors, to include one independent member of the RSP board. Concho will continue to be headquartered in Midland, Texas. The acquisition is expected to be accretive in the first year to Concho's key per-share metrics, including net asset value, earnings, cash flow and debt-adjusted growth. In addition, the transaction is expected to enhance Concho's three-year outlook for annualized production growth on a capital program within cash flow from operations.

06:01 EDT Concho Resources to acquire RSP Permian in $9.5B deal

05:54 EDT KBR awarded ammonia plant contact for HURL project in India - KBR announced that it has been awarded an ammonia plant contract by Toyo Engineering Corporation for the Hindustan Urvarak and Rasayan, or HURL, greenfield urea project in Gorakhpur, India. Under the terms of the contract, KBR will provide licensing and basic engineering design, or LBED, services for the project.

05:35 EDT Boston Scientific prevails in UK Edwards Lifesciences litigation - Boston Scientific announced the U.K. Court of Appeal dismissed Edwards Lifesciences' appeal and upheld a prior court decision that Edwards' Sapien 3 device infringes Boston Scientific patent EP 2 926 766 and that all claims of that patent are valid. Separately, the company plans to appeal the U.S. Patent Office's recent Inter Partes Review finding that certain claims of the Boston Scientific U.S. patent 8,992,608 asserted against Edwards are invalid.

05:31 EDT Exelixis: Ipsen announces EMA validation of Cabometyx new indication application - Exelixis (EXEL) announced that its partner Ipsen (IPSEY) received validation of the application for variation to the Cabometyx marketing authorization from the European Medicines Agency, the European regulatory authority, for the addition of a new indication for patients with previously treated advanced hepatocellular carcinoma, or HCC. The filing is based on results of the global pivotal phase 3 CELESTIAL trial, which met its primary endpoint of overall survival, or OS, with cabozantinib providing a statistically significant and clinically meaningful improvement in OS compared with placebo in patients with advanced HCC who had been previously treated with sorafenib.

05:26 EDT Mylan, Biocon receive approvals from EC, TGA Australia for Semglee - Mylan and Biocon announced that their co-developed biosimilar insulin glargine Semglee has received marketing authorization approval from the European Commission, or EC, following the positive recommendation by the Committee for Medicinal Products for Human Use, or CHMP, of European Medicines Agency. Semglee 100 units/mL 3 mL prefilled disposable pen for people with diabetes, is the first biosimilar from Biocon and Mylan's joint portfolio to be approved in Europe. Additionally, the Therapeutic Goods Administration, or TGA, Australia has also approved biosimilar insulin glargine Semglee 100 IU/mL 3 mL prefilled pen for the people with diabetes in Australia.

05:21 EDT Newell Brands sends letter to Starboard Value - Newell Brands delivered a letter to Starboard Value and Opportunity Master Fund from its board. "The newly reconstituted board of Newell Brands has reviewed and considered your most recent public statements. We believe the events of the last few months have helped lead to significant positive change at Newell Brands. The Company's shareholders will benefit from these changes, which include a nearly total refreshment of the Board and the development of an expanded accelerated transformation plan. The new board is focused and committed to both driving the Accelerated Transformation Plan into action and reigniting performance of the remaining core business, which we believe will be tremendously valuable for shareholders. To that end, we share many of your perspectives, and we thought it would be helpful to highlight how the company's recent actions align with your views."