Stockwinners Market Radar for April 04, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:22 EDT WGL Holdings merger with AltaGas approved by Maryland Public Service Commission - The Maryland Public Service Commission announced its approval of the combination of WGL Holdings, Inc with AltaGas Ltd. The $4.5 billion merger brings together two complementary energy companies committed to delivering more value for customers in Maryland and promises more investment in energy infrastructure and clean energy across the state. The commission voted 4 to 1 in favor of the merger. The commission is giving the companies until April 16, 2018, to indicate whether they will accept the new conditions that it is imposing as part of its approval.

19:00 EDT On The Fly: After Hours Movers - HIGHER: Facebook (FB) up 2.7% on CEO Zuckerberg comments that he is the best person to be CEO... AMD (AMD) up 2.4% on Stifel upgrade... Paratek Pharmaceuticals (PRTK) up 3.0% on NDA filing acceptance by the FDA. DOWN AFTER EARNINGS: Ollie's Bargain Outlet (OLLI) down 4.9% after Q4 earnings beat / FY18 revenue guidance miss / slowing FY18 comps. ALSO LOWER: Micron (MU) down 1.6% on UBS initiation at Sell... Conatus (CNAT) down 29.8% on failed phase 2b trial study.

18:37 EDT Southwest Gas sees 32K net customer adds in Natural Gas in FY18 - Southwest Gas also sees Natural Gas 33K net adds in FY19 and 34K in FY20. Sees FY18 CAPEX rising to $666M from $560M in FY17. Sees FY19 CAPEX at $661M and FY20 CAPEX at $663M. Sees FY18 operating margin rising about 2%. Sees Natural Gas segment customer growth of 1.6%. Sees Construction services revenue growth of 5%-7%. Comments from the company's Investor Day slides earlier today.

18:01 EDT Celanese announces Ateva EVA polymers price increase - Effective immediately, Celanese will increase prices on Ateva EVA polymers by $150/MT.

17:55 EDT Apollo Investment board approves reduction in asset coverage requirement - Apollo Investment Corporation announced that on April 4, 2018, its board of directors approved the application of the modified asset coverage requirements set forth in new Section 61a2 of the Investment Company Act of 1940, as amended by The Small Business Credit Availability Act. As a result, the asset coverage ratio test applicable to the company will be decreased from 200% to 150%, effective April 4, 2019. The SBCAA was signed into law on March 23, 2018 and includes a provision that permits business development companies to operate with a reduced minimum asset coverage ratio, provided that certain disclosure and approval requirements are met. Howard Widra, President of Apollo Investment Corporation commented, "We intend to use the incremental investment capacity to invest in lower risk assets which we believe will continue to support our strategy and provide consistent and stable returns for our shareholders. We believe that the ability to increase our leverage provides a unique opportunity for AINV given the robust volume of senior floating rate assets currently originated by the Apollo platform. Over the next year, we will work closely with all constituents - our lenders, our shareholders, the rating agencies, and our Board - to discuss how this additional capital will be deployed, and the impact to the Company."

17:42 EDT FalconStor removes 'going concern' from 10-K filing - FalconStor Software announced that as part of its Annual Report on Form 10-K for the year ended December 31, 2017, filed on April 2, 2018, the audited financial statements were approved without the need for a going concern qualification paragraph by the company's independent registered public accounting firm.

17:37 EDT Align extending Invisalign product family with Invisalign First clear aligners - Align Technology announced it is extending the Invisalign product family with Invisalign First clear aligners, designed with features specifically for younger patients with early mixed dentition. Phase 1 treatment is early interceptive orthodontic treatment for young patients, traditionally done through arch expanders, or partial metal braces, before all permanent teeth have erupted - typically at ages 6 through 10 years. Invisalign First clear aligners are designed specifically to address a broad range of younger patients' malocclusions, including shorter clinical crowns, management of erupting dentition, and predictable dental arch expansion.

17:36 EDT Align Technology announces expansion to Invisalign portfolio - Align Technology announced a new expanded Invisalign product portfolio that includes new options and greater flexibility to treat a broader range of patients. The new Invisalign product portfolio offers doctors more choices by extending desirable features across the entire portfolio and creating new Invisalign Treatment Packages, as well as new options to treat young patients with early mixed dentition. The new end-to-end Invisalign portfolio now includes clear aligner product offerings for almost every patient age group and case complexity to make it easier for doctors to tailor treatment planning to the needs of each unique patient.

17:32 EDT L3 Technologies's Vertex Aerospace part of consortium for $25.5B Army contract - L3 Communications Vertex Aerospace LLC; AAR Supply Chain Inc.; DynCorp International; Arma Aviation Corp; North American Surveillance Systems Inc; and Pinnacle Solutions Inc will share in a $25,500,000,000 hybrid contract for aircraft and support equipment maintenance, minor modification, and supply chain management primarily for performance outside the continental U.S. to support equipment and personnel in known theaters of operations. Bids were solicited via the Internet with 10 received. Work locations and funding will be determined with each order, with an estimated completion date of April 3, 2028.

17:02 EDT Atlassian closes up 5.5% after opening new office in India - Earlier today, Atlassian noted in a press release that it is opening a new office in Bengaluru, India. The company plans to grow the office into a world-class R&D and customer support center during the next several years, with initial hiring already under way. As Atlassian's first location in India, this site will add to the company's growing global presence. "Scaling Atlassian successfully is vital to building an enduring company," said Scott Farquhar, co-founder & co-CEO. "Bengaluru has exceptional technical talent, leadership, and business infrastructure that naturally aligns with our long-term company goals." The company has hired its first two of many functional leaders for the location and plans to expand further in the coming months by adding a number of engineering, recruitment, design, product management, and customer support roles. Atlassian's new office is located in a temporary space at Embassy Golflinks Business Park, with plans to move to another, larger location in the next year. The shares of Atlassian closed up 5.5% to $56.11 on Wednesday, April 4.

16:57 EDT Casi Pharmaceuticals holder Wei-Wu He reports 10.4% stake

16:44 EDT Boeing statement on proposed tariffs, importance of aerospace to economy - Boeing statement: "Boeing is confident that dialogue continues. While both governments have outlined positions that could do harm to the global aerospace industry, neither has yet imposed these drastic measures. We will continue in our own efforts to proactively engage both governments and build on the recent assurances by U.S. and Chinese leaders that productive talks are ongoing. A strong and vibrant aerospace industry is important to the economic prosperity and national security of both countries." Reference Link

16:38 EDT Broadcom completes redomiciliation to the United States - Broadcom announced the completion of the redomiciliation process to change the parent company of the Broadcom corporate group from a Singapore company to a Delaware corporation. The redomiciliation was approved overwhelmingly by Broadcom stockholders at a Special Meeting held on March 23, 2018, and confirmed by the Singapore High Court on April 2, 2018. Effective as of the close of trading on April 4, 2018, all issued ordinary shares of Broadcom Limited have been exchanged on a one-for-one basis for newly issued shares of common stock of Broadcom Inc. Broadcom Inc. common stock will begin trading on April 5, 2018, and the Company's trading symbol on NASDAQ will remain unchanged as "AVGO." Broadcom's existing co-headquarters in San Jose, California will become the Company's sole headquarters as a U.S. corporation. Given that Broadcom was already run and managed out of San Jose, the Company does not anticipate any impact to employees, day-to-day business and operations, or services to customers as a result of the redomiciliation.

16:36 EDT Travelport, Priceline sign long-term renewal agreement - Travelport (TVPT) and Priceline.com, part of Booking Holdings (BKNG), announced that the two longtime partners and travel industry leaders have signed a long-term renewal agreement for Travelport to continue providing pricing, booking and ticketing technology and content to Priceline. The renewal comes approximately 20 years after the two companies signed their first agreement for Priceline to process reservations through Travelport's GDS. Throughout the past two decades, Travelport and Priceline have worked together to make the process of buying and selling travel easier for customers seeking travel deals.

16:32 EDT LivaNova sees TandemLife acquisition being 'modestly accretive in 2018' - LivaNova announced it closed its acquisition of TandemLife. Previously, on Feb. 14, LivaNova announced its intent to acquire TandemLife, a privately held company focused on advanced cardiopulmonary temporary support solutions. Under the terms of the agreement, LivaNova paid $200 million to TandemLife at closing with an additional $50M to be paid based on specified regulatory milestones. The acquisition is projected to be modestly accretive in 2018.

16:31 EDT Werner opens a new terminal in Joliet, Illinois - Werner Enterprises announces the grand opening of its new Joliet, Illinois, terminal, replacing its Channahon, Illinois, drop yard. The 64,100-square foot building will provide professional drivers with the latest amenities, including: driver simulators, computer based training, laundry facilities, fitness rooms, showers, a quiet lounge, phone charging stations, complimentary ice, an arcade, a dog run, an ATM and a company store. The facility also includes 26 paved acres of parking and a Maintenance Shop.

16:29 EDT L Catterton confirms sale of Ainsworth Pet Nutrition to J.M. Smucker - L Catterton, the largest and most global consumer-focused private equity firm in the world, announced that it has entered into a definitive agreement to sell Ainsworth Pet Nutrition to The J.M. Smucker Company (SJM) for $1.9B. The transaction is subject to customary closing conditions including receipt of required regulatory approvals.

16:27 EDT Boeing KC-46 Tanker Program completes fuel on-load certification testing - Boeing recently achieved a major certification milestone following a successful refueling flight between two KC-46 tankers. The company's tanker program has now completed its required Supplemental Type Certificat fuel on-load testing.

16:21 EDT J.M. Smucker to acquire Ainsworth Pet Nutrition in $1.7B transaction - The J. M. Smucker Company announced the signing of a definitive agreement to acquire Ainsworth Pet Nutrition in a transaction valued at approximately $1.7B, after an estimated tax benefit of $200M. The company also announce it will explore strategic options for its U.S. baking business, including a potential sale. The company anticipates the acquired business to contribute net sales of approximately $800M in the first full year after closing the transaction. Annual cost synergies of approximately $55M are expected to be fully realized within three years after closing, with approximately $25M anticipated in the first year. After giving effect to the first year of synergies, the company expects the acquired business to generate earnings before interest, taxes, depreciation, and amortization of approximately $110M in the first full year after closing the transaction, excluding one-time costs, and contribute approximately 25c of accretion to the company's adjusted earnings per share. The all-cash transaction, which the Company will fund with debt, is valued at $1.9B, prior to an expected tax benefit related to the acquisition with a present value of approximately $200M. After factoring in the estimated tax benefit and anticipated annual cost synergies of $55M, the purchase price represents a multiple of approximately 12 times EBITDA. Ainsworth is a privately-held company headquartered in Meadville, Pennsylvania. In addition to its headquarters, the transaction includes two manufacturing facilities owned by Ainsworth, which are located in Meadville, Pennsylvania and Frontenac, Kansas, and a leased distribution facility in Greenville, Pennsylvania. The company anticipates that over 700 Ainsworth employees will join the company in conjunction with the transaction. Ainsworth operates two additional manufacturing facilities that are primarily used to provide contract manufacturing services to third-party pet food distributors. Those facilities and the associated business are not included in this transaction. The company expects to incur approximately $50M in one-time costs related to the acquisition, the majority of which are expected to be cash charges. Approximately two-thirds of the one-time costs are expected to be recognized in the first year after the closing of the transaction. The transaction is expected to close early in the company's fiscal year beginning May 1, subject to customary closing conditions including receipt of required regulatory approvals.

16:18 EDT J.M. Smucker to acquire Ainsworth Pet Nutrition in $1.7B transaction

16:17 EDT Conatus Phase 2b trial of liver transplant patients misses primary endpoint - Conatus (CNT) announced top-line results from the company's exploratory Phase 2b POLT-HCV-SVR proof-of-concept clinical trial in liver transplant patients with fibrosis or cirrhosis. Although the trial did not meet its primary endpoint in the heterogeneous overall trial population, the emricasan treatment effect in the subgroup of patients where the histology endpoint is most relevant, patients with advanced fibrosis and early cirrhosis, supports further evaluation. POLT-HCV-SVR has a separate patient population versus the other three Phase 2b clinical trials in the company's collaboration with Novartis (NVS), which are in non-viral indications in patient populations with nonalcoholic steatohepatitis, or NASH, fibrosis or cirrhosis. Patients were stable transplant recipients who were an average of seven years post-transplant on chronic immunosuppression. Hepatitis C virus, or HCV, the initial cause of the inflammatory insult to the transplanted liver, was eliminated by antiviral therapies prior to the study. This is the first demonstration of the anti-fibrotic efficacy with emricasan using a histology endpoint in patients with fibrosis. Consistent with the previous 16 clinical trials, emricasan was generally well-tolerated in the POLT-HCV-SVR clinical trial, and the overall safety profile was similar in the emricasan and placebo groups. Emricasan provided evidence of an anti-fibrotic treatment effect in the prespecified subgroup of patients with advanced fibrosis or early cirrhosis, with 95.0% of patients in the emricasan arm achieving responses in Ishak Fibrosis Score after two years of treatment, compared with 58.3% in the placebo arm, a 36.7 percentage point difference in response rate.

16:12 EDT Suma Krishnan reports 19.9% passive stake in Krystal Biotech

16:08 EDT Crispr Therapeutics announces Steve Caffe as head of regulatory affairs - Crispr Therapeutics (CRSP) announced the appointment of Steve Caffe, as head of regulatory affairs. Caffe brings to Crispr a 25-year track record in global product development and regulatory affairs, having held senior leadership positions at many leading biotechnology and pharmaceuticals companies. During his career, Caffe has demonstrated exceptional leadership in global regulatory affairs. He has contributed to over 40 new drug approvals and major new indications worldwide in a wide range of therapeutic areas including oncology, hematology, cardiology and rare diseases. Prior to joining Crispr Therapeutics, Caffe most recently served as senior VP at Ra Pharmaceuticals (RARX), where he led regulatory affairs, pharmacovigilance, quality, and patient advocacy.

16:05 EDT Inter Parfums, Graff Diamonds sign exclusive fragrance license pact - Inter Parfums announced that it has entered into an exclusive, worldwide license agreement with London-based Graff Diamonds for the creation, development and distribution of fragrances under the Graff brand. The eight-year agreement has three 3-year automatic renewal options, potentially extending the license until December 31, 2035.

15:55 EDT Tabula Rasa HealthCare sees CMS action as 'significant opportunity' - Tabula Rasa HealthCare announced that it has reviewed and determined the impact to TRHC of the Centers for Medicare and Medicaid's April 2, 2018 announcement of changes to its Medicare Prescription Drug Program, or "Part D." These changes will affect more than 42 million Medicare Part D beneficiaries across the U.S., with the most significant impact being felt by the 19 million, and growing, Part D beneficiaries who receive prescription drug coverage through Medicare Advantage plans. The company said: "Significantly, among these changes is one that enhances the way Part D health plans will view and invest in medication therapy management services. TRHC currently provides MTM programs to 150 Medicare Advantage contracts representing 3 million beneficiaries. We believe CMS anticipates that Medicare sponsors will expand MTM enrollment." TRHC Chairman and CEO Calvin Knowlton added: "We view Monday's action by CMS as a significant opportunity to expand our market and bring its innovations in MTM to a larger footprint of Part D health plans. For the first time since Part D was adopted and MTM services were mandated, Part D health plans will have incentives to invest in innovative MTM services in order to drive therapeutic outcomes for patients and reduce unnecessary costs in the system."

15:33 EDT Discovery Communications trading resumes

15:10 EDT LongFin Corporation (Class A Stock) trading resumes

15:05 EDT LongFin Corporation (Class A Stock) trading halted, volatility trading pause

13:56 EDT Amazon says 'tens of thousands' of customers using Amazon Aurora - Amazon Web Services shared that tens of thousands of customers are using Amazon Aurora for their relational databases, a number that has increased by approximately two-and-a-half times in the last year. New Amazon Aurora customers include ADP, Autodesk, Choice Hotels, TIBCO, Trend Micro, Cloudability, ZipRecruiter, BMLL Tech, Beachbody, Arizona State University, RecoChoku, FirstFuel, Mitel, and Wappa.

13:35 EDT Paccar spikes higher after research firm says Class 8 truck orders jump - The shares of the truck maker Paccar (PCAR) are higher this afternoon after transportation intelligence firm FTR reported its preliminary North American Class 8 orders for March at 46,300 units, "which is the third highest month on record, 15% above February and up 103% year over year." "Orders for Q1 2018 were the largest totals of any quarter in history," said the intelligence report out of FTR. Don Ake, vice president of commercial vehicles at FTR commented, "The current capacity crisis may be the worst ever. Capacity is extremely tight and expected to remain this way for months. Fleets need more trucks to handle huge freight demand and continue to order trucks at record-setting rates. OEM 2018 build slots are quickly filling up." PRICE ACTION: Shares of Paccar are up almost 1% to $66.29 in early afternoon trading, OTHERS TO WATCH: Another truck maker, Navistar (NAV), is still in the red, down fractionally to $34.12 per share, while engine maker Cummins (CMI) is down by 1.2% to $158.27.

13:27 EDT ESPN reports 10-year pact with Ivy League, says most content going to ESPN+ - ESPN and the Ivy League have announced a comprehensive, 10-year deal for ESPN to become the exclusive national media rights holder for the conference, carrying more than 1,100 events annually from more than 30 sports on ESPN media platforms. The majority of those will be exclusively available on ESPN+, the new direct-to-consumer sports streaming service launching April 12 from The Walt Disney Company's Direct-to-Consumer and International division in partnership with ESPN, the company stated. The Ivy League will also have at least 24 events air on ESPN's linear networks each year, ESPN noted. Reference Link

12:58 EDT DDR Corp. director Otto buys 711,616 common shares - In a regulatory filing, DDR Corp. director Alexander Otto disclosed the purchase of 711,616 common shares of the company at a price of $7.3108 per share.

12:49 EDT Google employees urge CEO Pichai to cancel Pentaton AI project - Google (GOOG) employees have sent a letter to CEO Sundar Pichai urging the company not to participate in a Pentagon program that uses artificial intelligence to interpret video imagery and could be used to improve the targeting of drone strikes. "We believe Google should not be in the business of war," the letter reads. "Therefore we ask that Project Maven be cancelled, and that Google draft, publicize and enforce a clear policy stating that neither Google nor its contractors will ever build warfare technology." The letter notes that Google is implementing Project Maven, a customized AI surveillance engine that uses "Wide Area Motion Imagery" data captured by U.S. government drones to detect vehicles and other objects, track their motions, and provide results to the Department of Defense. "This plan will irreparably damage Google's brand and its ability to compete for talent," the letter says. "Amid growing fears of biased and weaponized AI, Google is already struggling to keep the public's trust. By entering into this contract, Google will join the ranks of companies like Palantir, Raytheon (RTN), and General Dynamics (GD). The argument that other firms, like Microsoft (MSFT) and Amazon (AMZN), are also participating doesn't make this any less risky for Google. Google's unique history, its motto Don't Be Evil, and its direct reach into the lives of billions of users set it apart." The employees request that Pichai cancel this project immediately and draft, publicize, and enforce a clear policy stating that neither Google nor its contractors "will ever build warfare technology." Reference Link

12:08 EDT Microsoft announces plans to invest $5B in IoT - Microsoft announced in a blog post that "We will invest $5B in the Internet of Things over the next four years. The reason we are doing this is simple: Our goal is to give every customer the ability to transform their businesses, and the world at large, with connected solutions. It's well understood that IoT solutions can create operational efficiencies, but we know the true impact extends well beyond that into our daily lives. Our customers are delivering electricity to schools in Africa, creating better patient outcomes with predictive care, improving worker safety on job sites and driver safety on Alaskan roadways. We've been invested in IoT before the term was coined, when enterprises had these endpoints in their factories, buildings and other devices that were totally "dark." Today, we're planning to dedicate even more resources to research and innovation in IoT and what is ultimately evolving to be the new intelligent edge. With our IoT platform spanning cloud, OS and devices, we are uniquely positioned to simplify the IoT journey so any customer-regardless of size, technical expertise, budget, industry or other factors-can create trusted, connected solutions that improve business and customer experiences, as well as the daily lives of people all over the world. The investment we're announcing today will ensure we continue to meet all our customers' needs both now and in the future." Reference Link

11:49 EDT Lennar sees FY18 home deliveries 45,765 - Says housing market is strong and continuing to strengthen. Says confident will exceed $100M synergies and savings from CalAtlantic integration in 2018. Says on track to achieve $365M in synergies for 2019. Says "well ahead" of schedule on integration. Says engaged Wells Fargo Securities and Deutsche Bank Securities to advise on strategic alternatives for Rialto Capital Management. Says sees reduced gross margin for 2018 due to purchase accounting. Sees FY18 operating margin between 12.5%-13.5%. Guidance and comments provided during Q1 earnings conference call.

11:36 EDT Acxiom rises after CEO suggests Facebook may reconsider third party policies - Shares of Acxiom (ACXM) are bouncing back this morning after the company's CEO said there are "some signs" suggesting Facebook (FB) is reconsidering its data import policy. This comes after the social media giant announced that Facebook Partner Categories will be discontinued over the next several months. Stephens analyst Brett Huff views the recent negative Acxiom stock reaction to Facebook's news as overdone and believes it should be used as a buying opportunity. FACEBOOK MAY RECONSIDER DATA POLICY: In a post to the company's corporate blog last night, Acxiom CEO and President Scott Howe wrote: "Over the last few days, we've received hundreds of emails and calls from clients, partners, and members of the ecosystem at large. In the wake of Facebook's decision to discontinue their Partner Categories program, almost everyone in the industry is wondering what they should do." Howe concluded his post by writing: "We've seen some signs that Facebook is reconsidering the initial policy they issued last week on data imports in light of advertiser concerns that will have an economic impact. There are many talented and smart people at Facebook. And if they take action on this feedback, it would be a smart move for them and good news for the industry." OVERREACTION A BUYING OPPORTUNITY: Meanwhile, Stephens' Huff told investors in a research note this morning that he thinks Howe's blog post is a potential indication of the level of concern advertisers are having about Facebook's recent move, which he sees as "aggressive." Huff believes the negative stock reaction to the social media giant's news is "overdone" and thinks the more existential potential issues - such as Google (GOOG; GOOGL) also banning third part data - are unlikely to happen. Furthermore, the analyst argued that he expects advertisers/publishers to still buy Acxiom data, just not directly through Facebook but rather individually. He reiterated an Overweight rating and $32 price target on Acxiom's shares. Also keeping an Outperform rating on Acxiom's stock, Wells Fargo analyst William Warmington told investors in a research note of his own that he views the recent selloff in Acxiom's share price as an overreaction. The analyst remains bullish on Acxiom given the limited direct financial impact of Facebook's decision, and an attractive valuation that implies minimal value for the AS and MS divisions. PRICE ACTION: In late morning trading, shares of Acxiom have gained over 7% to $23.17.

11:32 EDT Teck Resources acquires Quebrada Blanca minority interest - Teck Resources announced that it has acquired an additional 13.5% interest in Compania Minera Teck Quebrada Blanca S.A. through the purchase of Inversiones Mineras S.A., a private Chilean company. The acquisition brings Teck's interest in QBSA to 90%. ENAMI, a Chilean State agency, holds a 10% preference share interest in QBSA, which does not require ENAMI to fund capital spending. QBSA's principal asset is the Quebrada Blanca Phase 2 copper development project located in Northern Chile. QB2 is in the final stages of permitting, and a project sanction decision is not expected before the second half of 2018. IMSA holds 8.5% of the ordinary shares of QBSA and a 5% preferred share interest. The purchase price consists of $52.5M paid in cash on closing, an additional payment of $60M payable on the issuance of the major approval of the social and environmental impact assessment for the QB2 project and the expiry of certain appeal rights, and a further $50M payable within 30 days of the commencement of commercial production at QB2. Additional amounts may become payable to the extent that average copper prices exceed $3.15 per pound in each of the first three years following the commencement of commercial production, up to a cumulative maximum of $100M if commencement of commercial production occurs prior to January 21, 2024, or up to a lesser maximum amount in certain circumstances thereafter.

11:16 EDT Globant lower after Spruce Point predicts up to 50% share downside - Shares of Globant are moving lower after short-selling research firm Spruce Point Capital Management put a "Strong Sell" opinion on the name. Spruce Point believes Globant's organic growth rate "has in fact been decelerating, and is now below target." Further, the firm claims to have found evidence suggesting that management is "growing dependent on accounting and financial presentation gimmicks to embellish a business that has generated negative cumulative free cash flow since coming public." In addition, recent news that WPP's (WPP) CEO Martin Sorrell is under investigation for possible misuse of assets and allegations of improper behavior are a potential overhang for Globant, Spruce Point wrote in a report posted on its website. The firm notes WPP is the company's largest shareholder and that Sorrell is a member of its Board of Advisors. Spruce Point has a long-term price target of approximately $24.50 to $29.50 for Globant shares, which represents 40%-50% downside risk. The stock in late morning trading is down 3.7%, or $1.81, to $47.02. Globant describes itself as a "digitally native technology services company."

11:03 EDT Boeing expands services engagement in Latin America with GOL, Aeromexico - Boeing (BA) is expanding its commercial services capability in Latin America with new customer orders from GOL Airlines (GOL) to use Boeing's Airplane Health Management for its 737 MAX fleet and from Aeromexico to use Boeing's landing gear exchange program for its 787 fleet.

10:33 EDT Corning to build high-volume manufacturing facility for Valor Glass - Corning announced an investment in Valor Glass to build a high-volume manufacturing facility that will create over 300 new jobs in Durham County, North Carolina. Adding new pharmaceutical glass packaging capacity in Durham is part of Corning's plan announced in July 2017 to invest $500M and create 1,000 new U.S. jobs, the company noted. The new facility will be constructed adjacent to a Corning Life Sciences manufacturing facility, enabling the company to realize synergies between the two businesses. It is anticipated the new facility will be operational by year-end 2019.

10:21 EDT Street Fight: As several analysts remain bullish on DexCom, Goldman says sell - Shares of DexCom (DXCM) are sliding after Goldman Sachs analyst Isaac Ro started coverage of the stock with a Sell rating, saying consensus underappreciates a decelerating top-line growth profile as competition rises. Several of his peers, however, recently reiterated buy-equivalent ratings on the stock following the Food and Drug Administration's clearance for its G6 sensor slightly ahead of schedule. SELL DEXCOM: In a research note to investors this morning, Goldman Sachs' Ro started coverage of DexCom with a Sell rating and $57 price target. The analyst pointed out that he sees 24% downside to the shares as consensus underappreciates a decelerating top-line growth profile as competition rises. Further, Ro said his proprietary work suggests relative share losses are likely even as the overall market for CGMs expands. Meanwhile, he thinks re-investment to fend off competition from Abbott Laboratories (ABT) will extend the timeline to profitability. Lastly, Ro added he sees low risk of M&A given the market structure in Diabetes devices. Meanwhile, Guggenheim analyst Chris Pasquale also initiated coverage of DexCom this morning, starting the stock with a Neutral rating. While he is bullish on the outlook for CGM adoption and the company's ability to sustain a leadership position in the market, he believes the field is entering a disruptive phase spurred by a rapid influx of new technologies. Moreover, feedback from his recent physician and patient surveys suggests that DexCom could be at risk from both a share and pricing perspective as this process plays out, something he does not believe is fully reflected in the stock at current levels. BUY DEXCOM: Last week, DexCom announced that the FDA has granted a De Novo request for the DexCom G6 continuous glucose monitoring system, or CGM, the newest generation of CGM for people with diabetes ages two and up. The DexCom G6 is indicated by the FDA for use as both a standalone CGM and for integration into automated insulin dosing systems. Along with this authorization, the FDA is establishing criteria, called special controls, which outline requirements for assuring CGM accuracy, reliability and clinical relevance as well as describe the type of studies and data required to demonstrate acceptable CGM performance. Following the news, Piper Jaffray analyst JP McKim raised his price target on DexCom shares to $80 from $78 and recommended buying the stock with an Overweight rating as he views the label for DexCom's G6 as stronger than his initial first glance despite the 10-day shut off. Also raising the stock's price target to $78 from $68, BMO Capital analyst Joanne Wuensch argued that the introduction of DexCom's G6 CGM system ahead of schedule and the new Class II designation on the product marks a "complete makeover" rather than just an upgrade from the prior system. Wuensch reiterated an Outperform rating on the shares as she foresees revenue acceleration over the longer term as the system achieves Medicare penetration and possibly expands to the relatively untapped type 2 diabetes patient population. Oppenheimer analyst Steven Lichtman and Canaccord analyst Kyle Rose also recently raised their price targets for DexCom while reiterating buy-equivalent ratings on the stock. PRICE ACTION: In morning trading, shares of DexCom have dropped about 4% to $71.72. Over the last month, the stock is still up about 31%.

10:02 EDT Lakeland's Lake City Bank says Wealth Advisory Group passes $1B in AUM - Lake City Bank, a unit of Lakeland Financial, said that its Wealth Advisory Group has reached more than $1B in assets under management. In addition, the group administers $1.7B in total assets.

09:34 EDT J.C. Penney CEO: Retailers must change, adjust to maketplace - CEO Marvil Ellison says that in order to be successful, retailers must change and adjust to the marketplace and the way customers shop. He said that in 2018, the retailer will focus on positive comp in apparel and growing omnichannel capabilities. He also noted that J.C. Penney has a "$10B opportunity to acquire market share from our mall based, brick and mortar competition and we're going to be aggressive." Comments taken from J.C. Penney's General Manager Conference.

09:05 EDT Acuity Brands down 13.9% after reporting Q2 results

09:04 EDT Euroseas announces time charter contracts for two containerships - Euroseas announced the following chartering arrangements for two of its container carriers: EM Athens, a 2,506 teu 2000-built vessel, entered into a charter for about a year period at a gross daily rate of $10,400, and, Manolis P, a 1,452 teu 1995-built vessel, extended its current charter contract for about a year at a gross daily rate of $9,500. The new charters will commence on April 9 for the EM Athens and April 7 for the Manolis. Euroseas typically announces charter arrangements of a year or longer duration.

09:03 EDT Roku announces Sanyo as newest Roku TV brand - Roku announced that the Sanyo brand is now part of the Roku TV licensing program. Funai Corporation expects to ship the first Sanyo Roku TVs in Canada this quarter.

09:02 EDT Monotype Imaging: Pamela Lenehan to replace Robert Lentz as chair - Monotype announced that the company has appointed Eileen Campbell and Denise Warren as new independent directors, effective immediately. Additionally, Pamela Lenehan will be named Chair of the Board, replacing Robert Lentz, who has resigned from the Board and will step down as Chair, effective following the Company's 2018 Annual Meeting of Stockholders. Doug Shaw, a director since 2004, has also resigned from the Board, effective following the Company's Annual Meeting of Stockholders.

09:00 EDT Shutterfly moving infrastructure to Amazon Web Services - Amazon Web Services (AMZN) announced that Shutterfly (SFLY) is moving its infrastructure to AWS. "We evaluated all the major cloud providers, and chose AWS for its unmatched security, reliability, and breadth of services which allowed us to quickly migrate key assets, build cloud-based applications, and run our core services with ease," said Satish Menon, Senior Vice President and Chief Technology Officer at Shutterfly, Inc.

08:58 EDT Zayo Group sees Q1 bookings to exceed $9M - As previously reported, Zayo Group Holdings disclosed last night that more than 20 school districts have selected its E-Rate solutions during the first calendar quarter of 2018. "These E-Rate awards, coupled with the previously announced FTT contract and good overall sales performance, contributed to first calendar quarter net bookings that exceed our $8.5M goal by a healthy margin," said Andrew Crouch, president and COO at Zayo. Zayo anticipates first calendar quarter bookings will exceed $9.0M. "Given the nature of the E-Rate award cycle, these awards represent most of the E-Rate bookings that Zayo is likely to be awarded in calendar year 2018, though additional bookings are anticipated in second calendar quarter. Last year, most of the E-Rate awards occurred in the second calendar quarter," the company added.

08:53 EDT Acuity Brands trading resumes

08:47 EDT On The Fly: Pre-market Movers - HIGHER: Proteostasis Therapeutics (PTI), up 13.5% after reporting the FDA has granted Fast Track Designation for the company's triple combination program for the treatment of cystic fibrosis... Destination XL (DXLG), up 9% after Carlo Cannell's Cannell Capital disclosed a 7.47% stake and said they may seek talks. LOWER: Boeing (BA), Ford (F), General Motors (GM), Deere (DE) and Caterpillar (CAT) are among the many stocks sliding in apparent reaction to news that China plans for 25% tariffs on American products, including airplanes, automobiles and soybeans, in retaliation against President Donald Trump's proposed penalties on Chinese goods... DexCom (DXCM), down 4% after Goldman Sachs analyst Issac Ro started the stock with a Sell rating and $57 price target. DOWN AFTER EARNINGS: Cloudera (CLDR), down 34%... Dave & Buster's (PLAY), down 9%... CarMax (KMX), down 7%.

08:45 EDT Synacor announces Forever Login to curb Pay TV's parssword sharing challenges - Synacor announced Forever Login to curb Pay TV's password sharing challenges that Parks Associates estimates will be a $10B problem. Available on the company's Cloud ID authentication platform, "the new feature lets operators balance easy subscriber access to TV Everywhere content with control over the maximum number of concurrent devices allowed and the length of time before viewers need to login again, if ever. Consumers register trusted devices as part of an operator's sign-in process, providing access to content anywhere without the need to reenter passwords."

08:39 EDT Diana Shipping announces time charter contract for m/v Los Angeles - Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is $19,150 per day, minus a 5% commission paid to third parties, for a period of about nine months to maximum twelve months. The charter is expected to commence on April 17, 2018. This employment is anticipated to generate approximately $4.88M of gross revenue for the minimum scheduled period of the time charter.

08:36 EDT MyoKardia appoints Taylor Harris as CFO - MyoKardia announced the appointment of Taylor Harris as CFO. Harris brings more than 20 years of finance and life science industry experience to MyoKardia and will lead the finance, accounting, information technology, facilities, corporate communications and investor relations functions.

08:35 EDT InterDigital, Kyocera sign multi-year patent license agreement - InterDigital (IDCC) announced that the company's patent licensing subsidiaries have signed a multi-year, worldwide, non-exclusive, royalty-bearing patent license agreement with Kyocera Corporation (KYO). The agreement covers sales by Kyocera Corporation and its affiliates of terminal unit products designed to operate in accordance with WCDMA and LTE standards, providing Kyocera expanded coverage for products in addition to those covered under their existing license agreement with InterDigital.

08:33 EDT On Track Innovations unit signs contract with Polish National Post Office - On Track Innovations announced that its wholly owned subsidiary, OTI Europa ASEC, has signed a new contract with the Polish National Post Office to manage Warsaw's public transportation "Smart City" card program. These postal point of sale kiosks will allow consumers to purchase or refill "Smart City" cards for public transportation in the Warsaw metropolis area via train, bus, or other mode of public transportation. OTI will be providing both the payment portion, as well as software, in 272 "Smart City" card terminals throughout 218 post offices in Warsaw, whereby OTI will control the entire sales and payment process. This is a recurring revenue contract, but due to confidentiality, the terms of the contract cannot be disclosed. OTI Europa ASEC's network now includes 800 POS points throughout Poland.

08:32 EDT Unit Corp. completes sale of 50% interest in midstream subsidiary - Unit Corporation said it has closed on the previously announced agreement to sell a 50% interest in its wholly owned subsidiary, Superior Pipeline Company, LLC to SP Investor Holdings, LLC, which is jointly owned by OPTrust and funds managed and/or advised by Partners Group, a global private markets investment manager. The cash proceeds at closing were $300M. Proceeds from the sale will be used to accelerate the drilling program of Unit's upstream subsidiary, Unit Petroleum Company; make additional capital investments in the jointly owned Superior; to reduce corporate debt; and for general corporate purposes.

08:31 EDT IntercontinentalExchange reports Q1 total futures ADV up 4% y/y - Intercontinental Exchange reported March and first quarter 2018 trading volume and related revenue statistics. 1Q18 highlights include: Record Total Futures ADV up 4% y/y; record Futures OI; Record Total Commodities ADV up 4% y/y; Record Total Energy futures ADV up 3% y/y, led by record Gasoil ADV up 28% y/y; Record Ags & Metals futures ADV up 18% y/y, driven by record Sugar futures ADV up 17% y/y, record Cocoa ADV up 20% y/y and record Cotton futures ADV up 23% y/y; Record Interest Rate futures ADV up 9% y/y, driven by record Sterling ADV up 20% y/y and record Gilt ADV up 13% y/y; Record MSCI ADV up 46% y/y; NYSE equity ADV up 9% y/y, equity options up 62% y/y; Record CDS gross notional cleared up 59% y/y.

08:13 EDT Facebook CEO Zuckerberg to testify before House Commerce Committee April 11 - House Energy and Commerce Committee Chairman Greg Walden (R-OR) and Ranking Member Frank Pallone, Jr. (D-NJ) released the following statement after confirming that Facebook CEO Mark Zuckerberg will testify before the committee on Wednesday, April 11th, at 10:00 a.m. regarding the company's use and protection of user data. "This hearing will be an important opportunity to shed light on critical consumer data privacy issues and help all Americans better understand what happens to their personal information online. We appreciate Mr. Zuckerberg's willingness to testify before the committee, and we look forward to him answering our questions on April 11th," said Walden and Pallone.

08:08 EDT Tronox names Jeffrey N. Neuman Senior VP, Secretary and General Counsel - Tronox (TROX) has named Jeffrey N. Neuman senior vice president, corporate secretary and general counsel, effective April 5. Neuman replaces Richard L. Muglia, who has announced his retirement from the company, effective May 31. Muglia will remain with the company in an advisory role until his retirement date. Neuman most recently served as vice president, corporate secretary and deputy general counsel of Honeywell (HON). Neuman joined Honeywell in 2002, and during his time there held various roles of increasing responsibility.

08:06 EDT Michaels, Sequential Brands expand Martha Stewart offerings - Michaels Companies (MIK) and Sequential Brands Group (SQBG) announce the expansion of the Martha Stewart brand at Michaels to bring her party prowess to its customers. "The exclusive new Martha Stewart Celebrations collection, which adds more than 300 event essentials to her already robust offering of paints, tools, stencils, and paper crafts at Michaels stores, means makers and entertainers can add signature style and custom flair to every event and project. And, to take personalization and creativity to new heights, Michaels will also exclusively offer a new Martha Stewart Cricut machine, a go-to customization tool for every DIY fan."

08:05 EDT Keryx announces publication of data from phase 3 trial of Auryxia - Keryx Biopharmaceuticals announced the publication of a post-hoc analysis of Auryxia phase 3 trial data for iron deficiency anemia in adult patients with chronic kidney disease, not on dialysis, in the online issue of the American Journal of Hematology. The article, entitled "Hemoglobin Response to Ferric Citrate in Patients with Non-dialysis-dependent Chronic Kidney Disease and Iron Deficiency Anemia," describes associations of baseline demographic, clinical and laboratory variables with change in hemoglobin in ferric citrate-treated patients. In the phase 3 study, 234 patients were randomized to receive ferric citrate or placebo. The full results of the phase 3 study were published in January 2017 in the Journal of the American Society of Nephrology. This post-hoc analysis assessed the intent-to-treat population. Baseline characteristics were similar across treatment groups. Results of this multivariable regression analysis show the following variables were associated with greater hemoglobin increases from baseline at 16 weeks: ferric citrate treatment, lower baseline hemoglobin, higher serum albumin, lower intact fibroblast growth factor 23, and lower transferrin saturation. Treatment interactions were observed for TSAT and ferritin only. Most common adverse reactions with AURYXIA were: Hyperphosphatemia in CKD on Dialysis: Diarrhea, discolored feces, nausea, constipation, vomiting and cough. Iron Deficiency Anemia in CKD Not on Dialysis: Discolored feces, diarrhea, constipation, nausea, abdominal pain and hyperkalemia.

08:04 EDT CEL-SCI says looks forward to completion of arbitration suit against former CRO - In a letter to shareholders, CEL-SCI said "We have achieved significant progress towards completing and reporting results on our Phase 3 head and neck cancer study for our lead investigational immunotherapy Multikine. The study is fully enrolled. We are following the study subjects for outcomes and will be able to analyze all of the data for safety and efficacy when 298 deaths have occurred in the two main comparator arms of the study and the corresponding data have been recorded in the study database. Based on overall survival data available in the scientific literature for the study's patient population, advanced primary head and neck cancer patients, and the fact that all of the patients in our Phase 3 study were enrolled between 2011 and September 2016, the time when 298 deaths will be reached in the combined comparator arms of the study should be near. In the $50M-plus arbitration suit we filed against the former clinical research organization for our Phase 3 trial, we are pleased to report that during the past few months, both parties have filed their closing briefs and subsequently also their responsive briefs. That only leaves the closing arguments which are scheduled to be delivered this month, April 2018. This final stage of the arbitration will take place on two consecutive days, with one party presenting their closing arguments one day and the other party presenting the next day. The arbitration suit was filed in October 2013 by CEL-SCI, seeking at least $50 million from the CRO that originally ran the Phase 3 head and neck cancer study. CEL-SCI's arbitration claim alleges (i) breach of contract, (ii) fraud in the inducement, and (iii) common law fraud. We look forward to a productive end to the arbitration suit in the near term. In the near term, we look forward to the completion of our arbitration suit against the former CRO and we also look forward to receiving results on both the completion and corresponding top line data on our Phase 3 head and neck cancer trial."

08:03 EDT Pfizer: FDA, EMA accept regulatory submissions for dacomitinib review - Pfizer announced that the U.S. FDA accepted the company's New Drug Application and granted priority review for dacomitinib, a pan-human epidermal growth factor receptor tyrosine kinase inhibitor, for the first-line treatment of patients with locally advanced or metastatic non-small cell lung cancer with EGFR-activating mutations. The European Medicines Agency has also accepted the Marketing Authorization Application for dacomitinib for the same indication. The FDA grants Priority Review to medicines that may offer significant advances in treatment or may provide a treatment where no adequate therapy exists. The Prescription Drug User Fee Act goal date for a decision by the FDA is in September 2018. Dacomitinib is the second investigational Pfizer lung cancer medicine to receive regulatory acceptance within two months, reinforcing Pfizer's commitment to patients with NSCLC where there continues to be a significant unmet need. The submissions are based on results from the Phase 3 ARCHER 1050 study, a global head-to-head trial investigating dacomitinib compared to gefitinib that showed dacomitinib may offer a clinically meaningful improvement over gefitinib. Patients that received dacomitinib in the study experienced a median progression-free survival of 14.7 months compared with 9.2 months in patients treated with gefitinib, as measured by Blinded Independent Central Review. This difference represented a 41 percent reduction in the risk of disease progression or death for patients treated with dacomitinib compared with gefitinib as a first-line treatment in locally advanced or metastatic NSCLC with EGFR-activating mutations.

08:03 EDT CVS Health announces new initiative focused on chronic kidney disease, dialysis - CVS Health announced a new initiative focused on chronic kidney disease and dialysis, which builds upon the company's focus on driving innovation in the management of chronic disease to help improve patient health outcomes while managing costs. This new program will focus on early identification of kidney disease and expansion of home dialysis in order to optimize care for patients with chronic kidney disease. CVS Health's unique enterprise assets along with the company's introduction of a truly innovative new home hemodialysis technology, position the company as a positive disruptor in the field with the ability to help reshape and redefine the kidney care space. CVS Health will be approaching this new initiative in a staged approach with phases focused on early disease identification and patient education, followed by the development of a comprehensive home dialysis program, for both hemodialysis and peritoneal dialysis. As part of the home dialysis program, CVS Health will be initiating a pivotal clinical trial to demonstrate the safety and efficacy of a new home hemodialysis device in support of a planned FDA submission to obtain market clearance. The device has been designed with features intended to make home hemodialysis simple and safe for patients, in order to facilitate longer, more frequent treatments. In published clinical research, longer, more frequent hemodialysis treatments lead to better outcomes in appropriate patient populations.

08:01 EDT Tecogen announces order of three Tecochill RT-50 chillers - Tecogen announces that a major corporation in Florida's Tampa Bay area has decided to purchase three Tecochill RT-50 series chillers that will be installed at its new headquarters, currently under construction. The units are expected to ship by the end of Q2.

07:58 EDT Acxiom CEO says 'some signs' suggest Facebook reconsidering data import policy - In a post to the company's corporate blog last night, Acxiom (AXCM) CEO and President Scott Howe wrote: "Over the last few days, we've received hundreds of emails and calls from clients, partners, and members of the ecosystem at large. In the wake of Facebook's decision to discontinue their Partner Categories program, almost everyone in the industry is wondering what they should do." He suggested that advertisers: Defend their ability to create their own standard data models and apply them across all touchpoints; Demand standard integrations that give them the ability to protect their data; and not panic. Howe concluded: "And trust that common sense will ultimately prevail. We've seen some signs that Facebook is reconsidering the initial policy they issued last week on data imports in light of advertiser concerns that will have an economic impact. There are many talented and smart people at Facebook. And if they take action on this feedback, it would be a smart move for them and good news for the industry." Reference Link

07:36 EDT WPP appoints independent counsel to investigate alleged CEO misconduct - WPP said in a statement last night, "The Board of WPP has appointed independent counsel to conduct an investigation in response to an allegation of personal misconduct against Sir Martin Sorrell, Chief Executive Officer of WPP. The investigation is ongoing. The allegations do not involve amounts which are material to WPP."

07:32 EDT Sangamo announces publication of preclinical murine study data - Sangamo announced the publication of preclinical murine study data from the company's in vivo genome editing program for Mucopolysaccharidosis Type II in the April 2018 issue of Molecular Therapy. In the study, in a mouse model of MPS II, zinc finger nuclease-mediated genome editing of cells in the liver resulted in expression of therapeutic levels of iduronate 2-sulfatase, an enzyme MPS II patients lack, and in the prevention of metabolic and neurological disease symptoms. The work was conducted in collaboration with the University of Minnesota's Center for Genome Engineering. The preclinical study provided proof of concept for development of SB-913, an in vivo genome editing product candidate Sangamo is currently evaluating in the CHAMPIONS Study, a Phase 1/2 clinical trial assessing the potential safety and efficacy of SB-913 in up to nine adult males with attenuated MPS II. SB-913 uses Sangamo's ZFN genome editing technology delivered intravenously via AAV6 vectors and is a single-treatment strategy intended to provide stable, continuous production of the IDS enzyme.

07:02 EDT RTI Surgical reaches milestone of providing 8M biologic implants - RTI Surgical announced a global milestone of providing more than 8 million biologic implants processed through RTI's proprietary sterilization processes with zero confirmed incidence of implant-associated infection. In 2017 alone, RTI distributed more than 600,000 biologic implants-helping surgeons serve patients in nearly 50 countries.

07:01 EDT KKR to invest $172M in Cherwell Software - Cherwell Software announced that KKR will take a larger stake in the company through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services. This latest investment of $172M will be in addition to KKR's initial $50M investment made in Cherwell in February 2017.

06:53 EDT Eldorado Gold confirms positive arbitration ruling - Eldorado Gold confirms that the Arbitration Panel n Greece has issued its ruling with respect to the arbitration initiated by the Greek State. The Panel's ruling rejects the Greek State's motion that the technical study for the Madem Lakkos metallurgy plant for treating Olympias and Skouries concentrates, as submitted by the company's Greek subsidiary Hellas Gold S.A. in December 2014, was in breach of the provisions of the Transfer Contract. The Transfer Contract is the document dated December 12, 2003 whereby Hellas Gold originally acquired the Kassandra assets, comprised of Olympias, Skouries and Stratoni, in the Halkidiki region of Greece, and was ratified by Greek National Law No 3220/2004. The company and Hellas Gold intend to continue to evaluate the decision and consider next steps with respect to its Kassandra investments.

06:47 EDT WidePoint awarded multi-year award to support U.S. Armed Forces - WidePoint announced a new multi-year award from a Branch of the U.S. Armed Forces valued at more than $1.8M annually. WidePoint will provide software support for a Base Year plus Option Year for a total award valued at more than $3.6M.

06:40 EDT Boeing, others drop after China retaliates with 25% tariffs on U.S. products - Shares of companies including Boeing (BA) and Tesla (TSLA) dropped in pre-market trading after China retaliated against President Donald Trump's proposed penalties on Chinese goods with plans for 25% tariffs on American products, including airplanes, automobiles and soybeans. BACKGROUND: On Thursday, U.S. President Donald Trump signed an executive memorandum imposing retaliatory tariffs on up to $60B in Chinese imports, according to CNBC. The new measures are designed to penalize the country for trade practices that the White House says involve stealing American companies' intellectual property, the report noted, adding that the tariffs will primarily target certain products in the technology sector. Trump's plan levies 25% tariffs on a wide range of goods -- about 1,300 categories in all -- and includes steel, Chinese-made solar panels, dishwashers, medical equipment and machine tools. Shares of Alibaba (BABA), Tencent (TCEHY) and Baidu (BIDU) were under pressure following the news. CHINESE TARIFFS: On Tuesday, China's Ministry of Commerce announced plans to levy 25% reciprocal tariffs on critical U.S. exports, covering over 106 categories of products and impacting around $50B of Chinese imports of U.S. products. China has targeted the largest American exports to China, airplanes and soybeans, as well as automobiles, chemicals, wheat, corn, cotton and tobacco. People familiar with the plans tell The Wall Street Journal that many of the other goods on the list, including beef and sorghum, "intentionally affect the U.S. Farm Belt, where voters supported President Trump." Neither the U.S. nor Chinese tariffs will take effect immediately. "Those who attempt to make China surrender through pressure or intimidation have never succeeded before, and will not succeed now," Foreign Ministry spokesman Geng Shuang told reporters. PRICE ACTION: Boeing is down 6.6%, Tesla dropped 5%, Ford (F) is down 3.4% and General Motors (GM) is down 4% in pre-market trading.

06:26 EDT Deutsche Bank nominates U.S. banker John Thain to supervisory board - The Supervisory Board of Deutsche Bank will submit a proposal to the Annual General Meeting on May 24 for four new representatives of the shareholders to be elected to the Supervisory Board. Nominated are Mayree Clark, John Thain and Michele Trogni. John Thain previously served as CEO of CIT Group, Merrill Lynch and the New York Stock Exchange.

06:09 EDT Patterson-UTI reports March average 172 drilling rigs operating - Patterson-UTI reported that for the month of March 2018, the company had an average of 172 drilling rigs operating. For the three months ended March 31, 2018, the company had an average of 169 drilling rigs operating.

06:08 EDT Barings to become investment advisor to Triangle Capital - Barings announced that it has entered into an agreement through which it will become the investment adviser to Triangle Capital. As part of the transaction, Barings will make an $85M payment directly to the company's shareholders at close. Additionally, Barings will invest $100M of equity in the company's shares to establish a significant ownership stake. Barings has also committed to make up to $50M of secondary share purchases at prices up to and including the then-current net asset value during the first two years post-close, which, together with Barings' significant equity investment at close, creates strong alignment of interests with the Company's shareholders. Upon closing of the transactions, an unrelated third party will purchase the Company's current investment portfolio and Barings will manage the Company going forward. Consummation of the transaction is subject to requisite approval of the Company's shareholders and certain closing conditions set forth in the Agreement. The Company's board of directors unanimously approved the transaction and, subject to certain conditions, will recommend that its shareholders vote in favor of the unrelated third party asset purchase, the Agreement with Barings, and related matters.

06:04 EDT Proteostasis CF triple combination program receives FDA Fast Track Designation - Proteostasis Therapeutics announced the FDA has granted Fast Track Designation for the company's triple combination program for the treatment of cystic fibrosis. The company's proprietary triple combination includes a novel cystic fibrosis transmembrane conductance regulator, or CFTR, amplifier, third generation corrector and potentiator, known as PTI-428, PTI-801 and PTI-808, respectively. The Company announced in January that the protocol for its triple combination clinical study, which the company plans to initiate in the current quarter, has received endorsement and a high strategic fit score from the Therapeutics Development Network, or TDN, and the Clinical Trial Network, or CTN, the drug development arms of the Cystic Fibrosis Foundation, or CFF, and the European CF Society, or ECFS, respectively.

06:01 EDT Amarin says REDUCE-IT study of Vascepa estimated to reach onset target - Amarin announced that its REDUCE-IT cardiovascular outcomes study of Vascepa is estimated to have reached the onset of the targeted 1,612 primary major adverse cardiovascular events specified in the study design. The REDUCE-IT cardiovascular outcomes study began with patient dosing at the end of 2011. "The onset of the targeted number of cardiovascular events in REDUCE-IT is an important milestone toward completion of this potentially landmark study," the company said in a statement. The estimated onset of the targeted number of cardiovascular events in REDUCE-IT is based on documented events having exceeded 90% of target as reported in January 2018, subsequently reported MACE in the adjudication process, and projected events based on standard industry methodology. The MACE onset projection was made by independent statisticians and reviewed by Amarin and the independent steering committee for the trial. Each group is blinded to the study results. Amarin anticipates that MACE from the study will be adjudicated through Q2, consistent with the company's objective of reporting top-line results from this important study before the end of Q3. Amarin maintains its guidance to report top-line results from the study before the end of Q3.