Stockwinners Market Radar for April 09, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:31 EDT Newmont Mining provides update on Ahafo mill accident - Newmont Mining continues to support the investigation of a tragic accident on 7 April in which six construction contractors lost their lives, and to offer its condolences and support to the families of the victims. The investigation is being led by the Inspectorate Division of Ghana's Minerals Commission. In response to the accident on Saturday, Newmont temporarily suspended production at both its Ahafo and Akyem mines in Ghana. Operations have restarted at both Ahafo and Akyem following extended safety discussions and risk assessments with employees. The Ahafo Mill Expansion project, where the accident took place, and all surface civil construction work will remain suspended until Newmont and the authorities are satisfied that work can resume safely.

19:01 EDT Rimini Street names Kevin Kim as the new South Korea market manager - Rimini Street announced the appointment of its new country manager for South Korea, Hyungwook "Kevin" Kim. Mr. Kim will be responsible for Rimini Street's next phase of growth and development in this dynamic region, which represents the 4th largest economy in Asia as well as one of the fastest growing developed countries in the world. The company has a local office based in Seoul's Gangnam District, and already supports more than 30 clients with operations in Korea.

18:47 EDT Epizyme publishes Phase 1 Tazemetostat study in The Lancet Oncology - Epizym announced its first-in-human data on the effects of EZH2 inhibition in patients with advanced solid tumors and B-cell non-Hodgkin lymphoma was published in the peer-reviewed The Lancet Oncology. The objectives of the Phase 1 dose-escalation portion of the study were to evaluate the safety and tolerability of orally dosed tazemetostat, a first-in-class selective inhibitor of EZH2. The study established the recommended dose for the Phase 2 expansion study and demonstrated favorable safety findings and anti-tumor activity. The open-label Phase 1 study was designed to evaluate the maximally tolerated dose and supported defining the recommended Phase 2 dose of tazemetostat. Tazemetostat was dosed twice daily as a single agent in patients with relapsed or refractory B-cell NHL or with advanced solid tumors including molecularly defined INI1- or SMARCA4-negative tumors. Additional study objectives were to evaluate the adverse events, pharmacokinetics, pharmacodynamics and preliminary anti-tumor activity of the agent. The results of the safety, PK and PD analyses helped determine the RP2D of 800 mg twice daily. The most common treatment-related adverse events, regardless of attribution, were grade 1 or 2 asthenia, anorexia, anemia, muscle spasms, nausea and vomiting. One single dose-limiting toxicity of grade 4 thrombocytopenia was identified at the highest dose of 1600 mg, but no other grade 3 or 4 toxicities were observed at a frequency greater than 5%.

18:01 EDT Azul reports March traffic up 10%, capacity up 9.6% - Azul announces its preliminary traffic results for March. Consolidated passenger traffic increased 10.0% compared to March 2017 on a capacity increase of 9.6% mostly due to the 80.0% growth in international capacity. As a result, load factor was 80.6%, 0.4 percentage points higher than in the same period last year. Domestic passenger traffic decreased 2.0% compared to 2017 due to the 2.9% reduction in domestic capacity driven by the removal of four E-Jets from the company's operating fleet in March, in line with its fleet transformation strategy, which consists of replacing older generation aircraft with next generation aircraft. Azul ended the quarter with 14 A320neos and expects to add another six next generation aircraft during the year. Load factor for the domestic market increased 0.7 percentage points to 79.2%.

17:42 EDT Heritage Insurance names Tim Johns as new CEO - Heritage Insurance Holdings announced that it has appointed Tim Johns as President and CEO of Zephyr Insurance Compan. Prior to joining Zephyr, Mr. Johns was chief consumer officer at the Hawaii Medical Service Association, the largest health insurer in Hawaii, where he was responsible for consumer sales, government programs, underwriting and rating, consumer advocacy, community affairs, marketing and communications, government relations, legal services, investments, and the HMSA Foundation.

17:24 EDT 'Time for facts not conjecture' says Cambridge Analytica chief - Cambridge Analytica issued a series of facts about its operations in order to address and stem the flow of speculation and false accusations being made about the company. "It has become open season for critics to say whatever they like about us based on speculation and hearsay," said the acting CEO Alexander Tayler, "conjecture and rumor is being portrayed as fact which is damaging and unfair to the company, its employees, and its clients. It would be impossible to address the hundreds of articles and broadcast segments that have misrepresented Cambridge Analytica or replicated false statements made by those focused on creating a political scandal." The press release said in part: "1. No laws were broken. Cambridge Analytica did not "hack" Facebook. 2. Cambridge Analytica did not use the GSR data or any derivatives of this data in the US Presidential Election. We used data from the RNC, data from public sources such as the voter registry, data from commercial data brokers, and research we collected ourselves with a clear statement of consent. 3. Cambridge Analytica did not work at all on the Brexit Referendum. 4. Mr Wylie is not a whistle-blower. He has repeatedly claimed to be a founder of Cambridge Analytica. In reality, he was a contractor of SCL Elections and left in mid-2014. His work for Cambridge Analytica began in August 2013 and ended in July 2014. 5. Cambridge Analytica and SCL Elections are different companies. 6. SCL Elections licensed 30M records on US citizens from GSR but has since deleted all the GSR data and its derivatives. 6. SCL Elections licensed 30M records on US citizens from GSR but has since deleted all the GSR data and its derivatives. 7. Cambridge Analytica only collects data with informed consent.8. We are undertaking an independent third-party audit in order to demonstrate that we do not hold any GSR data. We will share the results of this investigation as soon as we receive them.9. Cambridge Analytica has cooperated with the UK Information Commissioner's Office.10. Cambridge Analytica is a politically neutral company." Reference Link

17:21 EDT United Continental sees FY18 tax rate higher than Q1 - The company expects an effective tax rate of approximately 20% for the first quarter of 2018. The effective tax rate for the first quarter reflects the reduced federal corporate income tax rate as a result of the enactment of the Tax Cuts and Jobs Act in December 2017 and the impact of a change in the mix of domestic and foreign earnings. The company continues to expect the full year 2018 effective tax rate to be higher than the first quarter. The company's net operating loss carryforwards are expected to offset taxable income and no material cash taxes are expected to be paid in 2018.

17:20 EDT United Continental: Capacity reduced by 0.5 pts in Q1 due to weather events - Consolidated capacity was reduced by 0.5 pts in the first quarter of 2018 due to weather events impacting operations throughout the system.

17:15 EDT United Continental sees Q1 traffic up 4.7%, capacity up 3.6% - Sees Q1 load factor up 0.8 pts. Sees Q1 adjusted pre-tax margin up approximately 2%. Sees Q1 consolidated PRASM up about 2.7%, CASM up approximately 0.6%, effective income tax rate about 20%. Guidance from investor update.

17:05 EDT Energous spikes 26% after FCC certification of WattUp Near Field transmitter - Energous announced Federal Communications Commission certification of its WattUp Near Field transmitter, running at 900 MHz, under Part 18 of the FCC's requirements. After undergoing rigorous testing with Underwriters Laboratory, it was determined that the transmitter was fully compliant with all safety, EMC and regulatory requirements. The recently approved WattUp Near Field transmitter allows for contact-based charging capabilities, as well as interoperability with any WattUp-enabled receiving device. "Following the first FCC certification for our power-at-a-distance wireless charging transmitter under Part 18 rules, this approval represents a significant step forward in creating a fully-compatible wireless charging ecosystem," said Stephen R. Rizzone, CEO of Energous. "This FCC-approved near field transmitter will serve as a production-ready reference design for many of the initial contact-based applications from our customers. This same transmitter is also undergoing similar testing and filings for international approvals as we provide a path for our top tier customers to launch globally." As the only technology that is capable of both contact-based and at-a-distance wireless charging, as well as the ability to charge multiple devices simultaneously, WattUp is highly scalable and works with a variety of different sized products. Similar to WiFi, the WattUp ecosystem ensures interoperability between receivers and transmitters, regardless of the manufacturer, making the entire ecosystem flexible and accessible for consumers and manufacturing partners. Shares of Energous are up 26% to $21.02 in after-hours trading.

17:03 EDT California Resources closes Elk Hills field acquisition with Chevron - California Resources (CRC) announced that it has executed and closed a purchase and sale agreement with Chevron (CVX) to acquire the remaining working, surface and mineral interests in the 47,000-acre Elk Hills field in the San Joaquin Basin of California. Consolidating sole ownership of the Elk Hills field, CRC paid cash consideration of $460M and issued 2.85M CRC common shares to Chevron, subject to customary post-closing adjustments. The effective date of the transaction was April 1. CRC now owns Elk Hills in fee simple, the most complete form of ownership, holding a 100% working interest and a 100% net revenue interest, as well as all surface lands in the Elk Hills field. The field has an estimated 8.5B BOE of original oil in place and 32 major producing zones currently identified. CRC expects to achieve approximately $5M of annualized operational savings within six months of closing and approximately $15M of additional synergies within the next 18 months as it streamlines processes and leverages its substantial infrastructure already in place. Elk Hills is CRC's lowest cost operating area and with a 100% ownership interest would have accounted for approximately 43% of its 2017 pro-forma production. Because of the low operating costs at Elk Hills, this acquisition will immediately reduce CRC's corporate per unit production costs by approximately 55c per BOE, in addition to lowering general and administrative costs by about 20c per BOE.

16:55 EDT Fir Tree Capital lowers stake in SandRidge Energy to 7.0% from 8.2%

16:51 EDT vTv Therapeutics STEADFAST study misses both endpoints, study to be discontinued - vTv Therapeutics announced that results from part A of the company's Phase 3 STEADFAST study of the investigational medication azeliragon in people with mild Alzheimer's disease did not meet either co-primary efficacy endpoint. Patients taking azeliragon compared with placebo did not improve in cognitive or functional outcomes as measured by the Alzheimer's Disease Assessment Scale-cognitive subscale, or ADAS-cog, and the Clinical Dementia Rating Scale Sum of Boxes, or CDR-sb. The STEADFAST study is comprised of two independent and identical randomized, double-blind, placebo-controlled Phase 3 trials. The azeliragon treated group in part A had a 4.4 point decline from baseline in ADAS-Cog and a 1.6 point decline from baseline in CDR-sb compared to a placebo decline of 3.3 and 1.6 respectively. These differences were not statistically significant. Azeliragon was generally well-tolerated with a 25% withdrawal rate over 18 months that was similar in both the placebo and treatment arms. vTv Therapeutics is discontinuing current clinical studies involving azeliragon, including the open-label extension study and Part B of the STEADFAST study. Given the progress to date of STEADFAST Part B, the company expects that a substantial portion of the patients in Part B of STEADFAST will have completed 12 months of treatment under the study protocol. vTv Therapeutics will continue to thoroughly evaluate subset data from Part A and then the dataset from Part B over the coming weeks.

16:47 EDT Kinross Gold says operations in Russia not impacted by U.S. sanctions - Kinross Gold Corporation announced that its mining operations in Russia continue to operate according to plan and remain unaffected by the new sanctions announced by the United States on April 6, 2018. Kinross will continue to closely monitor sanction legislation in Canada, the U.S. and the European Union so that Kinross and its subsidiaries remain in compliance. Kinross has successfully operated in Russia for over 20 years and has proactively developed and diversified its procurement and logistics structures in the country.

16:42 EDT Wax Asset Management reports 7.0% passive stake in Volt Information Sciences

16:39 EDT Tupperware Brands discusses factors negatively impacting Q1 results - The most significant factors negatively impacting the first quarter of 2018, versus previous guidance, were: Customer service issues associated with the now closed French manufacturing and distribution facility had a larger than previously foreseen impact on sales, most significantly in France and Germany. Any ongoing impact is expected to be much less significant; In Indonesia, sales were lower than expected as key strategies have yet to gain traction; In Brazil, there were issues in the supply chain impacting product availability, including a customs strike, the over sell of certain items, and quality issues with a third party produced item. These factors negatively impacted sales and the number of sales force additions and new sales force leaders promoted; and The change in the tax rate that relates to the Global Intangible Low-Taxed Income tax. GILTI is currently expected to negatively impact full-year earnings per share by 35 cents compared with previous guidance, although it is not expected to impact cash flow. As the rules around recording the impact of GILTI are not yet clear, the currently estimated impact could change significantly as the year moves forward. If it does change, the Company expects it more likely to be lower than higher. Rick Goings, Chairman and CEO, commented, "While overall we are disappointed with the results of the first quarter, we were pleased with continued good performance in China, Mexico, Malaysia/Singapore, South Africa, the United States & Canada and others. We also returned to solid growth at Fuller Mexico, our largest beauty unit. We had expected challenges related to the closure of our French manufacturing facility, but the collateral impacts ran deeper than anticipated. That said, our actions under our revitalization plan are necessary to evolve our business on a number of fronts to leverage our growth opportunity and generate the return we, and our shareholders, expect. In Indonesia, we continue scaling-up a number of newer initiatives that we expect will lead to better performance in time, and we have also installed a new managing director during the first quarter. Brazil had an unusual number of external factors that hurt our momentum. We expect these issues to be temporary, as our strong management team in Brazil has identified, and is addressing, the key issues." Goings continued, "More broadly, we have confidence in how our business will perform going forward, as we continue to evolve our relationship-selling business model to include greater access to our powerful brands and innovative products through the use of digital tools, branded contact points and a relevant earning opportunity for our sales force."

16:33 EDT Nike acquires computer vision firm Invertex - Nike announced it has acquired Invertex, a computer vision firm based in Tel Aviv, Israel, as it continues to strengthen its digital technology and talent as part of its consumer direct offense. The team will focus on building innovations to help Nike serve millions of members around the globe.

16:33 EDT Tupperware Brands lowers Q1 outlook

16:32 EDT Second Sight CEO Robert Greenberg resigns - Second Sight Medical Products announced that Dr. Robert Greenberg, MD, PhD has resigned from the company's board and the company, effective April 3, 2018. Dr. Robert Greenberg has served on the Board of Directors since May 2003, as Chief Executive Officer from December 1998 to August 2015, and as Chairman of the Board of Directors from August 2015 to March 2018.

16:26 EDT Emcore CEO: CATV had 'significant' demand shortfall in Q2 - Jeffrey Rittichier, EMCORE's President and CEO commented, "CATV experienced significant demand shortfall from one major customer but saw bright spots in terms of LEML adoption and strength from our other customers. During the quarter, our Chip and Navigation businesses performed well and demonstrated the expected strength in demand."

16:20 EDT AMN Healthcare sees MedPartners acquisition immediately accretive to EPS - AMN Healthcare announced that it has completed two acquisitions: MedPartners, a leading national mid-revenue cycle firm; and two related brands in healthcare leadership solutions, Phillips DiPisa and Leaders For Today. MedPartners generated 2017 revenue of approximately $125M with an adjusted EBITDA margin of 16%. The MedPartners acquisition is expected to be immediately accretive to AMN's earnings per share. The Phillips DiPisa and Leaders For Today transaction is structured to allow AMN to realize tax benefits having an estimated net present value of approximately $4M. The business will be included in the company's Other Workforce Solutions segment for financial reporting purposes.

16:19 EDT Kodak announces John O' Grady as president of print systems division - Kodak announced John O'Grady, current president of the consumer and film division and former GM of world wide sales for print systems division, will become president of the print systems division effective April 24. O'Grady will replace Brad Kruchten who is retiring after 36 years with Kodak. CEO Jeff Clarke will lead the consumer and film division on an interim basis until a successor is appointed.

16:17 EDT Aisling Capital reports 13.4% passive stake in Zosano Pharma

16:17 EDT Selective Insurance reports preliminary Q1 catastrophe losses about $26M - Selective Insurance announced preliminary first quarter 2018 pre-tax net insured catastrophe losses totaling approximately $26M. The catastrophe losses primarily relate to the winter storm that impacted the east coast of the United States in early January and the Nor'easters in March. The Company also experienced higher than expected non-catastrophe insured property losses of $28M ($106M in total), principally related to the early January deep freeze in the Company's footprint states and a relatively large number of severe fire losses. First quarter 2018 catastrophe and non-catastrophe property losses were above expected by $33M that will reduce fully diluted earnings per share by 44c. Partially offsetting these losses, the Company expects to report $8M of pre-tax net favorable prior year casualty reserve development in the quarter, or 11c per fully diluted share, and improved standard commercial lines pure renewal pricing that was 3.2% for the first quarter of 2018.

16:09 EDT Pingtan Marine Enterprise to significantly increase production capacity - Pingtan Marine announced that 27 fishing vessels of the company have received approval dated April 2, 2018 from the Ministry of Agriculture and Rural Affairs of the People's Republic of China and are expected to operate in the international waters of the Indian Ocean after completion of modification and rebuilding. These vessels will first undergo the modification and rebuilding process to upgrade their fishing method in order to meet the fishing requirements of the international waters of the Indian Ocean and to expand gross tonnage. The new vessels will be put into operation in the designated fishing area after completing the modification and rebuilding process along with all related procedures. Among the 27 fishing vessels, 7 will be modified as light luring seine fishing vessels with annual harvest capacity of 6,000 to 8,000 tons per vessel, primarily focusing on harvesting tuna, sardine, blackbody trevally, anchovy and mackerel fish products, and the other 20 vessels will be modified as squid jigging vessels with annual harvest capacity of 2,000 to 3,000 tons per vessel focusing on capturing squid products. The 27 fishing vessels are expected to significantly increase the Company's total annual harvest capacity by 80,000 to 110,000 tons. For the year 2017, the Company's annual sales volume was 17,986 tons, revenue was $63.2M and net income was $32.5M.

16:06 EDT Installed Building Products acquires H2H Blinds - Installed Building Products announced the acquisition of H2H Blinds. H2H has three locations throughout Georgia and North Carolina. H2H specializes in installing blinds and shutters primarily for the residential construction market and has trailing twelve-month revenue of $7.5M.

16:06 EDT Bluegreen Vacations renews and extends $50M timeshare receivables facility - Bluegreen Vacations reported that on March 12, 2018, the company amended and restated its revolving timeshare receivables hypothecation facility with Liberty Bank. The restructured revolving credit period will now run through March 2020, maturing in March 2023. This agreement did not impact the maximum permitted outstanding borrowing of $50 million, and as of March 12, 2018, only $22.8 million was outstanding under the facility. Commencing on April 1, 2018, the interest rate on the facility will decrease to the Prime Rate from the Prime Rate plus 0.50%, both subject to a floor of 4.00%. Bluegreen plans to continue to use the facility to finance vacation ownership interest notes receivable.

16:04 EDT MSCI completes sale of Financial Engineering Associates - MSCI Inc announced that it has completed the sale of Financial Engineering Associates, Inc to Allegro Development Corporation, a global leader in Commodity Management software and solutions. The terms of the transaction, including the purchase price, were not disclosed. FEA is a widely used and accepted set of risk and valuation tools for the energy and commodity markets, and the product line was included within MSCI's Analytics segment. The transaction is not expected to have a material impact on MSCI's results of operations, and MSCI remains committed to its previously communicated guidance for 2018.

16:01 EDT Eletropaulo Migrates Customer Service to Avaya Cloud - Eletropaulo, the largest electricity distribution company in terms of consumption and turnover in Latin America, will migrate its customer service platform to the Avaya cloud solution. As part of the company's digital transformation plan, Eletropaulo has signed a five-year contract with Avaya Holdings Corp, taking an important step towards optimizing and automating its customer service operations. The agreement between the companies includes the deployment of the Avaya Oceana(R) as a Service in more than 800 locations. The goal is to update Eletropaulo's platform with applications that modernize and enhance service and help retain customers through intelligent customer service technologies. The migration to a cloud-based solution will take advantage of Eletropaulo's current infrastructure, including previous investments in Avaya solutions.

15:54 EDT WWE sees 8% increase in Q2 WWE Network subscribers - If the acquisition and retention of subscribers driven by WrestleMania is comparable to the subscriber activity associated with the prior year event, average paid subscribers for Q2 would be approximately 1.77M, representing an increase of approximately 8% from Q2 2017. As future subscriber performance may differ from prior activity, this range is provided for perspective rather than as guidance.

15:48 EDT WWE Network has 9% increase in WrestleMania viewers - WWE announced that its digital streaming service, WWE Network, reached a record 2.12M total subscribers following Sunday night's WrestleMania. This is a 9% increase from April 3, 2017, the day after WrestleMania last year. "We expect to deliver record subscriber levels, revenue and adjusted OIBDA in 2018," said WWE co-president George Barrios. "WWE Network's continued growth along with our massive reach across traditional television as well as digital and social platforms, reaffirms the effectiveness of our global, multi-platform content strategy."

14:32 EDT Roche study of biomarker-driven therapy in mCRC suspended - A study of biomarker-driven therapy in metastatic colorectal cancer, or mCRC, sponsored by Hoffmann-La Roche (RHHBY) has been suspended "following iDMC review of cohort 4 data a temporary recruitment halt to the whole study and a temporary halt to randomisation into cohort 4 has been undertaken," according to a post to ClinicalTrials.gov. The post is being attributed as the reason for a late day move lower in shares of Exelixis (EXEL), which has dropped over 2%. In January of this year, Exelixis announced the presentation of updated results from the Genentech-sponsored phase 1b clinical trial of cobimetinib, an Exelixis-discovered MEK inhibitor, in combination with atezolizumab, an anti-PDL1 antibody discovered and developed by Genentech, a member of the Roche Group, in patients with metastatic colorectal cancer. Reference Link

13:59 EDT Bunge rises after DOJ reported to approve Monsanto-Bayer deal - The Fly notes that Bunge (BG) has been considered a takeout target, with interest reported from Archer Daniels (ADM) and Glencore (GLNCY). Following the Wall Street Journal report that Department of Justice has decided to allow Bayer's (BAYRY) acquisition of Monsanto (MON) after the companies pledged to sell off additional assets, Bunge shares are off their earlier lows and have turned positive.

13:56 EDT Monsanto trading resumes

13:51 EDT Monsanto trading halted, volatility trading pause

13:15 EDT Enphase Energy delivers seventh-generation IQ microinverters to UK - Earlier today Enphase Energy announced the introduction of its seventh-generation Enphase IQ microinverters for the Enphase Home Energy Solution with IQ for the UK market. Seventh-generation IQ microinverters are powered by Enphase's unique software-defined architecture which results in an efficient design and a single hardware SKU worldwide. IQ 7 microinverters produce 11% more power, and are 31% lighter and 15% smaller than Enphase's M215 microinverters, which they replace. Compared to the sixth-generation IQ 6 product, IQ 7 microinverters produce 4% more power, and are 19% lighter and 16% smaller. The new IQ Microinverters offer an easier and faster installation experience with revolutionary two-wire cabling, and leverage semiconductor integration for higher reliability and better economies of scale. The 250 W AC Enphase IQ 7 Micro and the 295 W AC Enphase IQ 7+ Micro will be followed by a new, high-power 320 W AC variant, the Enphase IQ 7X Micro, to address 96-cell modules. Recently, Enphase won the Dutch Solar Innovation Award 2018 at Solar Solutions, the largest tradeshow in the Benelux region, for the IQ 7 Microinverter series, a further testament to its continuing drive to deliver innovative and high-quality products."With the introduction of our IQ 7 microinverters in the UK solar market, we continue to deliver on our vision to provide clean energy for everyone," said Peter van Berkel, general manager Enphase Energy EMEA."IQ 7 offers unique advantages, making it extremely suitable for the UK's social housing and new build segments. We look forward to offering our customers this next-generation product with the increasing quality, features and functionality they have come to expect from an Enphase product."

13:04 EDT Hilton to purchase no less than 10M shares from HNA - Hilton Worldwide disclosed earlier today that pursuant to its Master Amendment and Option Agreement with HNA , the company committed to repurchase not less than 10M shares of its common stock from HNA and has the option to repurchase up to an additional 6.5M shares in connection with the public offering. The MAOA, the permitted sale by HNA of up to all of the 82.5M shares of Hilton's common stock.

12:15 EDT FDA restricts sale and distribution of Bayer contraception device - The FDA issued an order to restrict the sale and distribution of the Essure device "to ensure that all women considering use of the permanent contraception device are provided with adequate risk information so that they can make informed decisions." The agency said in a statement, "The FDA is taking this step after becoming aware that some women were not being adequately informed of Essure's risks before getting the device implanted, despite previous significant efforts to educate patients and doctors about the risks associated with this device. The FDA is requiring a unique type of restriction, using its authority to restrict the sale and distribution of a device to impose additional requirements needed to provide a reasonable assurance of its safety and effectiveness. The FDA is committed to continuing to use its full authorities to ensure the post-market safety of medical products." The FDA pointed out that since ordering Bayer to conduct a post-market study, and then to add a boxed warning and a patient decision checklist to the labeling, there has been an approximately 70% decline in sales of Essure in the U.S. Reference Link

12:02 EDT Aerojet Rocketdyne says Natalie Schilling joins as Chief Human Resources Officer - Aerojet Rocketdyne (AJRD) announced that Natalie Schilling joined the company as Chief Human Resources Officer. Schilling will report directly to CEO and President Eileen Drake and will serve as one of the officers of parent company Aerojet Rocketdyne Holdings. She most recently served as vice president of Human Resources for Arconic's (ARNC) Corporate Resource Units, and was also the global director of Compensation and Benefits.

11:49 EDT Zuckerberg: 'We didn't do enough to prevent tools from being used for harm' - Congress has released Facebook CEO Mark Zuckerberg's prepared testimony ahead of Wednesday's hearing. Zuckerberg will say: "We face a number of important issues around privacy, safety, and democracy, and you will rightfully have some hard questions for me to answer. Before I talk about the steps we're taking to address them, I want to talk about how we got here. Facebook is an idealistic and optimistic company. For most of our existence, we focused on all the good that connecting people can bring. As Facebook has grown, people everywhere have gotten a powerful new tool to stay connected to the people they love, make their voices heard, and build communities and businesses. Just recently, we've seen the #metoo movement and the March for Our Lives, organized, at least in part, on Facebook. After Hurricane Harvey, people raised more than $20 million for relief. And more than 70 million small businesses now use Facebook to grow and create jobs. But it's clear now that we didn't do enough to prevent these tools from being used for harm as well. That goes for fake news, foreign interference in elections, and hate speech, as well as developers and data privacy. We didn't take a broad enough view of our responsibility, and that was a big mistake. It was my mistake, and I'm sorry. I started Facebook, I run it, and I'm responsible for what happens here. So now we have to go through every part of our relationship with people and make sure we're taking a broad enough view of our responsibility." Reference Link

11:47 EDT Congress releases Zuckerberg's prepared testimony ahead of Wednesday's hearing

11:05 EDT Gartner says global IT spending to grow 6.2% in 2018 to $3.7T - Worldwide IT spending is projected to total $3.7% in 2018, an increase of 6.2% from 2017, according to the latest forecast by Gartner, Inc. "Although global IT spending is forecast to grow 6.2% this year, the declining U.S. dollar has caused currency tailwinds, which are the main reason for this strong growth," said John-David Lovelock, research VP at Gartner. "This is the highest annual growth rate that Gartner has forecast since 2007 and would be a sign of a new cycle of IT growth. However, spending on IT around the world is growing at expected levels and is in line with expected global economic growth. Through 2018 and 2019, the U.S. dollar is expected to trend stronger while enduring tremendous volatility due to the uncertain political environment, the North American Free Trade Agreement renegotiation and the potential for trade wars." Worldwide spending for devices -- PCs, tablets and mobile phones -- is forecast to grow in 2018, reaching $706B, an increase of 6.6% from 2017. "The device market continues to see dual dynamics. Some users are holding back from buying, and those that are buying are doing so, on average, at higher price points," said Lovelock. "As a result, end-user spending will increase faster than units through 2022. However, total end-user spending and unit shipments are expected to be lower compared with previous forecasts, as demand for ultramobile premium devices, ultramobile utility devices and basic phones is expected to be slow."

10:27 EDT Menlo Therapeutics sinks after Phase 2 trial of serlopitant misses endpoints - Shares of Menlo Therapeutics are falling after the company announced its Phase 2 clinical trial of serlopitant did not meet its primary or key secondary endpoints. MTI-103 RESULTS: On Sunday, Menlo Therapeutics, which went public on January 25, announced results from MTI-103, the Phase 2 clinical trial of serlopitant for the treatment of pruritus in adults and adolescents with a history of atopic dermatitis. The study did not meet its primary or key secondary efficacy endpoints, and the trial showed no statistically significant difference between patients treated with serlopitant and patients treated with placebo. The ATOMIK, MTI-103 study, was a multi-center, randomized, placebo-controlled Phase 2 clinical trial conducted at 52 U.S. sites to assess the efficacy, safety and tolerability of serlopitant. The primary efficacy analysis compared the difference between serlopitant and placebo in the mean change in worst-itch numeric rating scale from baseline to week 6. A key secondary endpoint was a responder-rate analysis of a 4-point WI-NRS improvement at week 6. EXECUTIVE COMMENTARY: "While we are disappointed that the results in this Phase 2 trial of pruritus associated with atopic dermatitis did not reach statistical significance and did not show the same magnitude of treatment effect as in our prior pruritus studies, we do see in the results a pattern that shows numerical improvement in each serlopitant treatment group above the placebo group at every timepoint. This is our third pruritus study of serlopitant. Reduction of pruritus has been demonstrated in two prior Phase 2 studies, one trial in patients with chronic pruritus and one trial in patients with prurigo nodularis," said Chief Executive Officer Steve Basta. "We are initiating Phase 3 studies in prurigo nodularis this quarter, and we are looking forward to the Phase 2 results in refractory chronic cough in the fourth quarter of this year, and the Phase 2 results in pruritus associated with psoriasis by late 2018 or early 2019." ANALYST REACTION: On Monday, Jefferies analyst David Steinberg downgraded Menlo Therapeutics to Hold and cut his price target for shares to $20 from $41. The analyst said he is surprised that the Phase 2 clinical trial of serlopitant did not meet its primary or key secondary efficacy endpoints and has removed all revenue linked with the atopic dermatitis indication from his model. Steinberg continues to project successful outcomes for serlopitant's other ongoing development programs and looks forward to the key clinical data readouts in coming months, including Ph2 chronic cough data in the fourth quarter and Phase 2 pruritus associated with psoriasis data in late 2018/early 2019. Meanwhile, Piper Jaffray analyst David Amsellem called the miss of primary and secondary endpoints in the Phase IIb study a "big disappointment." The analyst, however, does not infer that the setback in atopic dermatitis "necessarily raises the risk" surrounding the prurigo nodularis Phase III trials. Prurigo nodularis is an altogether different condition, Amsellem told investors. He believes the trial miss "should not call into question the overall viability of serlopitant as an anti-pruritic agent." Amsellem reiterated an Overweight rating and $48 price target on Menlo Therapeutics. PRICE ACTION: Shares of Menlo Therapeutics have lost more than half their value on Monday morning, declining 71.3% to $10.09 in morning trading.

10:18 EDT After former Citron short target AveXis gets bought, analyst asks 'who's next' - AveXis (AVXS) shares are surging after the gene therapy researcher announced an agreement to be acquired by Novartis (NVS) for $218 per share, or $8.7B in cash. This comes two years after Citron Research made a short call on the name, with a $5 price target on AveXis. Commenting on the acquisition, Jefferies analyst Michael Yee noted that Novartis' two large gene therapy deals in four months raises the question of "who's next." AVEXIS SALE: AveXis announced that it has entered into an agreement and plan of merger with Novartis pursuant to which Novartis will acquire AveXis for $218 per share or a total of $8.7B in cash. This offer represents a premium of 88% to AveXis' closing price on April 6. The transaction was unanimously approved by the boards of both companies. Completion of the transaction is expected in mid-2018, pending the completion of the tender offer and all other closing conditions. NOT TOO SURPRISING: Following the announcement, Bernstein analyst Vincent Chen told investors that he has long suspected he would see acquisitions in gene therapy and that AveXis could be a prime candidate, so he is "not too surprised to see it go." However, the analyst acknowledged that he had not pegged Novartis as the top contender, initially favoring Roche (RHHBY) given signs of increasing interest in neuroscience and in Spinal Muscular Atrophy, with RG7916. While possible, especially as it would make sense for Roche and Biogen (BIIB), Chen does not believe other bidders for AveXis will emerge. Additionally, the analyst told investors that the announcement should be a positive for others in the space. Large cap biopharma could make moves into the space, as the field becomes increasingly de-risked with continued scientific progress, product approvals, pricing/reimbursement and commercial sales, he contended. OTHER GENE THERAPY PLAYERS: Meanwhile, Jefferies' Yee said he also believes that Novartis' deal for AveXis should remind investors about ongoing "attractiveness within smid-cap biotech," specifically within the gene therapy and cell therapy space. Novartis' two large gene therapy deals in four months will lead to a question of "who's next," the analyst contended. Among the mid-late stage gene therapy players remaining in the space are Bluebird Bio (BLUE), Spark Therapeutics (ONCE), BioMarin (BMRN), Abeona Therapeutics (ABEO), Regenxbio (RGNX), Nightstar Therapeutics (NITE) and Voyager Therapeutics (VYGR), Yee noted. Regarding Biogen, the analyst argued that this is a neutral event as he assumed AveXis would have obtained FDA approval within the next year or so and would have launched regardless of acquisition and would be a future competitor in SMA. Yee concludes that Biogen is being disciplined with its capital given it already has a gene therapy product entering Phase I for SMA and can go after other areas within neuro. WHAT'S NOTABLE: Back in 2016, Citron Research made a short call on AveXis, with a $5 price target. "In the case of AveXis, all you need is a healthy dose of skepticism, willingness to do the research, and a bit of empathy to reveal that there's nothing here beyond a glorified stock promotion. It will soon trade in the single digits," the report read. Citron added: "Given the extremely shady backgrounds of AveXis management and the dubious track records of the lead investigators at the single clinical site at which its drug is trialed, investors need to apply professional skepticism to the much-touted 'two babies sitting up' claim in AveXis's trial findings, absent any proof that these babies in fact were symptomatic for SMA Type 1 disease." PRICE ACTION: In morning trading, shares of AveXis have jumped almost 80% to $207.17, while Novartis' stock trading in New York has gained about 1% to $80.93.

09:40 EDT Facebook forming commission to see how social media impacts elections - Elliot Schrage, Vice President of Communications and Public Policy, and David Ginsberg, Director of Research, said in a blog post: "Facebook is announcing a new initiative to help provide independent, credible research about the role of social media in elections, as well as democracy more generally. It will be funded by the John and Laura Arnold Foundation, Democracy Fund, the William and Flora Hewlett Foundation, the John S. and James L. Knight Foundation, the Charles Koch Foundation, the Omidyar Network, and the Alfred P. Sloan Foundation. At the heart of this initiative will be a group of scholars who will: Define the research agenda; Solicit proposals for independent research on a range of different topics; and Manage a peer review process to select scholars who will receive funding for their research, as well as access to privacy-protected datasets from Facebook which they can analyze. Facebook will not have any right to review or approve their research findings prior to publication. We're excited about this initiative for two important reasons. First, we think it's an important new model for partnerships between industry and academia. Second, the last two years have taught us that the same Facebook tools that help politicians connect with their constituents - and different communities debate the issues they care about - can also be misused to manipulate and deceive." Reference Link

09:31 EDT Nemaura Medical names Bashir Timol Chief Business Officer - Nemaura Medical announced that Bashir Timol, current Director of Strategy & Corporate Development, has been named Chief Business Officer, effective immediately. In this newly-created position, Timol will oversee Nemaura Medical's corporate development and strategic planning. Timol will continue to serve as a member of the Company's Board of Directors.

09:23 EDT Franklin Street lowers dividend to 9c per share - Franklin Street Properties announced after the close on Friday that its board of directors declared a regular quarterly dividend of 9c per share of common stock for the period January 1, 2018 through March 31, 2018, payable on May 10 to stockholders of record as of April 20. Chairman and CEO George Carter said, "The declared quarterly dividend of $0.09 per share of common stock represents a $0.10 reduction from the $0.19 per share of common stock quarterly dividend that FSP has paid since August 2008. As indicated in our fourth quarter 2017 earnings press release, the transition of FSP's property portfolio from a suburban to a primarily urban orientation has generally resulted in higher leasing costs per square foot but longer lease terms and higher rental rates. We anticipate that we will have the opportunity to do significant leasing in the property portfolio during 2018 and 2019 with the objective of achieving 92% to 94% stabilized occupancy. While some of the leasing to be done is rollover space from existing tenant lease expirations, a large amount is associated with value-add opportunities that exist in currently vacant space in many of our recently acquired urban-infill properties. The currently declared dividend of $0.09 per share of common stock has been set at a level that our Board of Directors believes will better enable us to fund anticipated capital expenditures and leasing costs from internal cash flow and that will more closely align our percentage of AFFO, or adjusted funds from operations, payout with other office REITs."

09:14 EDT Vistra Energy completes merger with Dynegy - Vistra Energy Corp. (VST), the parent company for TXU Energy and Luminant, announced it has completed its previously announced merger with Dynegy (DYN). The closing of the transaction follows the overwhelming approval from stockholders of both Vistra Energy Corp. and Dynegy Inc. in March, and the receipt of all required regulatory approvals. Vistra Energy Corp. will be the name of the combined company moving forward, and the combined company's stock will continue to trade on the New York Stock Exchange under the current ticker symbol for Vistra Energy. In accordance with the terms of the merger, Dynegy stockholders are entitled to receive 0.652 shares of Vistra Energy common stock for each share of Dynegy common stock that they owned, resulting in former Vistra Energy stockholders and former Dynegy stockholders owning approximately 79 percent and 21 percent, respectively, of the combined company. Vistra Energy also announced that three of Dynegy's directors, Hilary E. Ackermann, Paul M. Barbas, and John R. Sult, have been appointed to the Vistra Energy Board of Directors, effective immediately. These appointments bring the total number of directors of the combined company's board to 11.

09:10 EDT Medtronic announces renal denervation pivotal trial for hypertension treatment - Medtronic announced U.S. Food and Drug Administration approval to begin an investigational device exemption pivotal trial to evaluate the Symplicity Spyral renal denervation system in patients with high blood pressure. Renal denervation is a minimally invasive procedure intended to regulate the activity of nerves that lead to and from the kidney, which plays an important role in managing blood pressure. The SPYRAL HTN Pivotal Trial is part of the broader SPYRAL HTN Global Clinical Program, a multi-phased clinical study strategy aimed to establish the safety and efficacy of renal denervation to lower blood pressure.The SPYRAL HTN Pivotal Trial is a 1:1 randomized, sham-controlled study to investigate the renal denervation procedure in up to 433 patients at 50 sites in the U.S., Europe, Australia, and Japan. The trial will investigate the blood pressure lowering effect and safety of renal denervation in the absence of medication. The primary efficacy and safety endpoints in the trial are 24-hour blood pressure at three months and incidence of major adverse events through one-month post-randomization. In addition to the results from the SPYRAL HTN-OFF MED trial and the initiation of the SPYRAL HTN Pivotal Trial, new data from the first 80 patients enrolled in the prospective, randomized, sham-controlled SPYRAL HTN-ON MED trial will be presented during the late-breaking clinical trial session at the EuroPCR meeting commencing in May 2018 in Paris, France. This latest phase of the SPYRAL HTN Global Clinical Program will report the initial safety and efficacy of renal denervation six months following the procedure in patients with uncontrolled hypertension despite ongoing drug therapy.

09:07 EDT Cumberland expands into oncology specialty - Cumberland Pharmaceuticals announced that it has expanded its medical specialties to include oncology-related medications. The company's entry into the oncology specialty includes two initial supportive care medications: Ethyol injection and Totect injection. Cumberland entered into an exclusive U.S. license to distribute and market both Ethyol and Totect with the Clinigen Group plc, a British specialty pharmaceutical and services company following a strategic alliance established between the companies.

09:06 EDT Tandem Diabetes enters distribution agreement with Movi SpA for X2 insulin pump - Tandem Diabetes announced that it has entered into a distribution agreement with Movi SpA to commercialize Tandem's t:slim X2 Insulin Pump in Italy. Under the terms of the arrangement Movi will perform all sales, marketing and customer training and support for Tandem's products. Timing for availability of Tandem products in Italy has not yet been announced.

09:05 EDT Phillips 66 to integrate Mastercard's Masterpass later this year - Mastercard (MA) announced that Phillips 66 (PSX) will integrate Masterpass into its My Phillips 66 App later this year. Mastercard's digital payment service will enable Phillips 66 customers to pay both at the pump and in the convenience store within the My Phillips 66 App. Masterpass securely stores all payment information, including card details, shipping details, and payment preference, making the gas tank the only thing consumers need to remember to fill. Through the Phillips 66 Apps, Masterpass will soon be accepted at the more than 6,500 Phillips 66, Conoco and 76 locations in the U.S, making it easier to find a station, securely allow payment authorization and receive rewards on the go.

09:03 EDT Arthur J. Gallagher acquires Integrity Transportation Insurance Agency - Arthur J. Gallagher & Co. announced the acquisition of Houston-based Integrity Transportation Insurance Agency, LLC. Terms of the transaction were not disclosed. Integrity Transportation Insurance Agency is a retail property/casualty broker serving Texas-based transportation clients, primarily long-haul truckers.

09:03 EDT Phillips 66 to intergrate Mastercard's Masterpass - Mastercard (MA) announced that Phillips 66 (PSX) will integrate Masterpass into its My Phillips 66 App later this year. Mastercard's digital payment service will enable Phillips 66 customers to pay both at the pump and in the convenience store within the My Phillips 66 App. Masterpass securely stores all payment information, including card details, shipping details, and payment preference, making the gas tank the only thing consumers need to remember to fill. Through the Phillips 66 Apps, Masterpass will soon be accepted at the more than 6,500 Phillips 66, Conoco and 76 locations in the U.S, making it easier to find a station, securely allow payment authorization and receive rewards on the go.

09:03 EDT Gogo's 2Ku inflight solution selected by Air Canada - Gogo (GOGO) announced that Gogo's industry leading 2Ku inflight connectivity solution has been chosen by Air Canada for its Bombardier (BDRBF) CS300 aircraft. The technology will be installed as a line-fit option at Bombardier. Air Canada has 45 CS300 aircraft on order with an option for an additional 30 aircraft. Air Canada now has over 170 narrow and widebody aircraft committed to the technology. More than 2,000 aircraft are slated to be installed with Gogo's 2Ku technology representing 16 of the world's leading airlines. Today, more than 650 aircraft are flying with 2Ku technology.

09:02 EDT Rent-A-Center reports Q1 preliminmary core U.S. SSS growth of 0.3% - Preliminary same store sales growth in the Core U.S. segment for the first quarter of 2018 increased 0.3% over the same period a year ago, with March 2018 increasing at 1.6%. The continued sequential improvement within the first quarter was primarily driven by better collections due to lower promotional activity and a higher portfolio balance versus last year driven largely by an increase in the average ticket per customer. Acceptance Now same store sales grew 3.3% in the first quarter compared to first quarter 2017. In addition, the cost savings and working capital initiatives instituted by the company earlier this year are exceeding management's expectations. Since the end of 2017, the company has reduced debt by over $75M due to the stronger topline and improved performance, primarily due to the initiatives. The company currently has approximately $175M in revolving credit availability, taking into account the $50M reserve necessary given the company's current fixed charge coverage ratio. The company has $20M currently drawn on its revolving credit facility.

09:00 EDT Cooper Tire announces planned retirement of CFO Ginger Jones - Cooper Tire & Rubber Company announced that Ginger Jones, SVP and CFO, has informed the company she will retire as a full-time executive later this year, and will focus on serving on public company boards of directors. Jones, who joined Cooper in 2014, will remain in her current role until a successor is named and an orderly transition is completed. Cooper has initiated a search for Jones' successor that involves internal and external candidates.

08:46 EDT AbbVie announces 'positive' results from Phase 3 SELECT-COMPARE clinical trial - AbbVie announced positive top-line results from the Phase 3 SELECT-COMPARE clinical trial showing that after 12 weeks, upadacitinib (15 mg, once-daily) met the primary endpoints of ACR20a and clinical remissionb versus placebo. All ranked secondary endpoints were also achieved versus either placebo or adalimumab (40 mg every other week). The ongoing study evaluates upadacitinib, an investigational oral JAK1-selective inhibitor, in patients with moderate to severe rheumatoid arthritis who are on a stable background of methotrexate and had an inadequate response. Upadacitinib is not approved by regulatory authorities and its safety and efficacy have not been established.

08:42 EDT EyeGate receives FDA Fast Track designation for EyeGate OBG - EyeGate Pharmaceuticals announced that it has received a letter from the FDA responding to the company's amended investigational device exemption, or IDE, application for a second pilot study of the company's lead product, EyeGate Ocular Bandage Gel, or EyeGate OBG, a cross-linked thiolated carboxymethyl hyaluronic acid, or CMHA-S, platform being developed for the acceleration of re-epithelialization of large corneal epithelial defects in patients having undergone photorefractive keratectomy, or PRK. In its letter, the FDA identified four deficiencies in the Company's submission, requesting additional information on the manufacturing processes associated with the EyeGate OBG product. The primary comment relates to the validation of the filter specifically used for sterilization of the CMHA material, while the remaining comments include a request for clarification to the previously submitted data and modifications to the manufacturing process documents.

08:36 EDT FuelCell agrees to sell project to NRG Yield - FuelCell Energy (FCEL) announced that it has entered into a definitive agreement to sell the project company that owns the 2.8 megawatt fuel cell power plant project located at the Tulare Waste Water Treatment Facility in California to NRG Yield, Inc. (NYLD). This project has been developed and constructed by FuelCell Energy and will be placed into commercial operations following the sale. The project company, under the new ownership of NRG Yield, will deliver the clean power and heat to the City of Tulare under a multi-year power purchase agreement, or PPA. FuelCell Energy will operate and maintain the power plant under a twenty-year service agreement with the project company. The sale of this project company and its assets to NRG Yield will result in revenue recognition of product sales out of FuelCell Energy's generation project assets portfolio. The transaction is expected to close in April upon completion of customary closing conditions.

08:35 EDT Red Violet announces strategic alliance with Innovative - Red Violet and Innovative Enterprises announced a strategic alliance with the goal of delivering advanced identity verification, fraud prevention and risk mitigation solutions to the background screening industry. Interactive Data, or IDI, a Red Violet subsidiary, and Innovative have identified significant opportunities to build upon the combination of their solutions and expertise. As a result, Innovative will leverage IDI's advanced algorithms and its proprietary data and analytics platform, Core, to strengthen the accuracy, depth and breadth of its market-leading products and solutions to the background screening industry. IDI has designated Innovative as the exclusive platform to deliver integrated products and solutions to the background screening industry.

08:34 EDT Minerva screens first patient in Phase 2b trial of MIN-117 to treat MDD - Minerva Neurosciences announced the screening of the first patient in a Phase 2b trial of MIN-117 to reduce the symptoms of patients diagnosed with major depressive disorder. The primary objective of the trial is to evaluate the efficacy of two fixed doses of MIN-117, 5.0 milligrams and 2.5 mg, compared with placebo in reducing the symptoms of major depression as measured by the change in the Montgomery-Asberg Depression Rating Scale total score over six weeks of treatment. Secondary objectives include: assessment of the change from baseline in symptoms of anxiety using the Hamilton Anxiety Scale; the change in severity of illness using the Clinical Global Impression of Severity Scale and Clinical Global Impression of Improvement Scale; and safety over six weeks of treatment. The study population will consist of adults with a diagnosis of moderate or severe MDD with anxious distress and without psychotic features. Based upon previous clinical observations, the company believes that patients with MDD who also have symptoms of anxiety may benefit from treatment with MIN-117. Approximately 324 patients are expected to be enrolled at approximately 40 sites in the U.S. and Europe. Patients will be randomized to one of three arms, including placebo and the two dosage arms, in a 2:1:1 ratio, resulting in approximately 162 patients in the placebo group and 81 patients in each of the two MIN-117 treatment groups. The study design includes a screening phase of up to three weeks, a six-week double-blind treatment phase and a two-week post- study follow-up period. Top line results of the trial are expected in 1H19.

08:20 EDT Elliott increases stake in Telecom Italia to approximately 9% - Elliott Advisors UK Limited disclosed that it has worked with J.P. Morgan Securities plc to build its position in the ordinary shares of Telecom Italia (TI) to approximately 9%. Elliott also released an investor presentation outlining its case for change at the company, including the following key takeaways: "TIM is uniquely positioned in the Italian market and operates an outstanding collection of assets that, if properly managed, should produce substantial, consistent returns for its shareholders while enhancing a nationally strategic infrastructure asset. However, poor stewardship under the Vivendi (VIVHY)-controlled Board has resulted in deeply troubling corporate governance issues, a valuation discount and no clear strategic path forward. Elliott believes a Board composed of truly independent directors is the most efficient and effective way to improve governance and performance at TIM. Shareholders have the opportunity to unlock significant value at the company by supporting our proposal, of which the principal pillar is the full independence of TIM's Board so that the company can start focusing on creating value for all shareholders."

08:16 EDT LiveXLive Media announces key Q4 achievements - LiveXLive Media announced key achievements during its fiscal fourth quarter, ended March 31. In the fourth quarter LiveXLive secured strategic partnerships with industry leaders, expanding its lineup to 25 festivals and over 50 events globally; grew Slacker's net subscribers by approximately 10,000 and made important advances in its integration; and added world-class talent to its advisory board.

08:12 EDT Omnicell names Scott Seidelmann as Chief Commercial Officer - Omnicell announced that Scott Seidelmann has joined the company as Chief Commercial Officer beginning this month. Seidelmann is responsible for the commercial strategy for the company, bringing more than 20 years of experience in leading growth businesses that drive customer success.

08:11 EDT Asure Software acquires OccupEye Limited, terms not disclosed - Asure Software announced the acquisition of OccupEye Limited. OccupEye provides a sensor-based solution that allows organizations across the world to streamline operations, creates efficiencies, enhance productivity and analyzes employee engagement, which generates cost savings and creates a more employee-focused workplace. OccupEye's technology combined with Asure Software's existing workplace management software and Human Capital Management services, allows Asure Software to expand its technology solutions while adding its own complementary and proprietary sensor hardware and analytics. By adding OccupEye to our workspace solutions, Asure Software will create new opportunities to lead with innovation, and strengthen Asure Software's cloud strategy while creating new industry visibility with a wider market reach and strengthening the IoT program. OccupEye will open a unique cross-selling opportunity across accounts integrating with Resource Scheduler, Asure Software's rooms scheduling software, Smart View, the space utilization solution and combining it with the HCM platform, to create the full employee engagement experience.

08:09 EDT Recon Technology announces bidding results from Shenhua Group - Recon Technology announced it won additional bids totaling approximately $0.7M, to procure and import customized instruments and to provide related installation and maintenance services for the coal chemical business of Shenhua Group Corporation Limited through Shenhua Logistics Group Corporation Limited for the first three months of year 2018. Currenty, the Company has won bids of approximately $1.1M from Shenhua Group. The Company expects to win additional bids in the near future and the annual bids from the coal and electronic power segment of Shenhua Group, a recently expanded business line, may exceed $3.2M.

08:05 EDT Ashford to acquire Remington's Project Management division for $203M - Ashford (AINC) announced that it has signed a definitive agreement to acquire the Project Management business of privately-held Remington Holdings. The transaction, which is expected to close during the third quarter of 2018, is subject to approval by the Company's stockholders and customary closing conditions. Remington's Project Management provides comprehensive and cost-effective design, development, and project management services for both Remington managed hotels as well as external partners. It provides project oversight, coordination, planning, and execution of renovation, capital expenditure or ground-up development projects. Its operations are responsible for managing and implementing substantially all capital improvements at Ashford Hospitality Trust (AHT) and Ashford Hospitality Prime (AHP). Additionally, it has extensive experience working with many of the major hotel brands in areas of renovating, converting, developing or repositioning hotels. In 2017, Remington Project Management had revenues of approximately $29M and adjusted EBITDA of approximately $16.3M. Under the terms of the agreement, the Company will acquire Remington's Project Management business for a total transaction value of $203M. The purchase price will be paid by issuing voting, convertible preferred stock to the sellers. The newly created convertible preferred stock will have a conversion price of $140 per share (a 45% premium to the current trading level) and, if converted immediately after the consummation of the transaction, would convert into 1,450,000 shares of common stock. Dividends on the convertible preferred stock are payable at an annual rate of 5.5% in the first year, 6.0% in the second year, and 6.5% in the third year and each year thereafter. Voting rights of the convertible preferred stock will be on an as-converted basis and the holders of the convertible preferred stock will have a voting limit of 25% of the Company's voting securities for five years. Upon closing of the transaction, the sellers will have the right to nominate two directors to the Company's Board of Directors. The transaction does not require a private letter ruling from the Internal Revenue Service. Upon the unanimous recommendation of the special committee, the independent and disinterested members of the Company's Board of Directors unanimously approved the transaction and recommended its approval by the Company's stockholders.

08:04 EDT Charles River, PathoQuest expand strategic biologics partnership - Charles River Laboratories International and PathoQuest announced an expansion of their strategic partnership agreement to provide next-generation sequencing services to the biologics industry. As part of the expanded partnership, Charles River intends to make a direct investment in PathoQuest.

08:02 EDT Immunomedics appoints Dr. Robert Iannone as Chief Medical Officer - Immunomedics announced the appointment of Robert Iannone, M.D., M.S.C.E., as Head of Research & Development and Chief Medical Officer, effective immediately. In his new role, Dr. Iannone will oversee and lead all clinical development, regulatory, pre-clinical, translational research and medical affairs strategies and activities of the company. Dr. Iannone brings more than thirteen years of experience in clinical drug development.

08:02 EDT Ironwood: Sarissa intends to nominate CIO Alex Denner to board - Ironwood Pharmaceuticals announced that it has received notice from Sarissa Capital Management LP that it intends to nominate its chief investment officer Alex Denner to stand for election to the Ironwood Board of Directors at Ironwood's 2018 Annual Meeting of Shareholders. Ironwood's Board and management team will consider the input of its shareholders prior to the Board making a recommendation in Ironwood's definitive proxy statement. Ironwood maintains open and ongoing communications with its shareholders and welcomes views and opinions that may advance its goal of creating shareholder value. Members of Ironwood's management team had one introductory meeting with Sarissa's representatives prior to Sarissa notifying the company of their intention to nominate a director candidate. Ironwood remains open to continuing a constructive dialogue.

08:01 EDT Overstock.com's tZERO unveils security token trading software - tZERO, the blockchain-meets-Wall-Street subsidiary of Overstock.com, announces the prototype of its planned security token trading software. The demo link displays a video demonstrating how security tokens may be traded on this platform. Overstock.com and tZERO CEO Patrick Byrne said, "In August 2015, Overstock used tZERO's blockchain technology to issue what we believe was the world's first private blockchain security, a $5 million bond to First New York Securities. In December 2015, Overstock filed with the SEC an S-3 registration statement to register a preferred stock digital security utilizing tZERO's blockchain technology, which was subsequently declared effective in December 2016. Overstock used that S-3 to issue what we believe was the world's first public blockchain security, OSTKP, utilizing tZERO technology once again. Now we are unveiling tZERO's security token trading software: the astute viewer of our progress can look at this, and the collection of strategic assets we have assembled, and get an idea of the breadth of what we intend."

07:58 EDT Enviva sees Chesapeake terminal returning to full operation by June 30

07:56 EDT Enviva provides operational, financial update after Chesapeake Terminal fire - In a letter to investors, John Keppler, chairman and CEO of Enviva, provided an update on the operational and financial implications of the recent fire at the partnership's marine export terminal in the Port of Chesapeake, Virginia. "Thanks to the extraordinary work of the Enviva team onsite at our Chesapeake terminal following the February 27th fire, we currently expect the terminal to return to full operation by June 30, 2018," said Keppler. "Moreover, given the flexibility that our portfolio of multiple plants and ports provides, we have met and expect to continue meeting every customer delivery required this year under our off-take agreements. Importantly, as we believe substantially all the costs of the incident are recoverable, we are reaffirming full-year 2018 per unit distribution guidance of at least $2.53, with continued quarter-over-quarter increases expected throughout the year. The flexibility and risk mitigation provided by our portfolio of plants and ports have enabled us to meet every customer delivery required under our off-take agreements since the incident. Our plants are running and our ports are shipping at rates that we believe position us to meet all of our contractual requirements for the balance of the year, although specific timing of shipments may be affected from one quarter to the next. Turning to the financial impact of the incident, we do not believe the underlying profitability or cost position of our business will be affected once the Chesapeake terminal returns to full operation. The events that took place in Chesapeake are financial and operational risks we identified as part of our industrial risk management process, and we believe substantially all of the costs resulting from the incident are recoverable through our insurance or other contractual rights."

07:35 EDT Howard Hughes CEO David Weinreb sells shares to satisfy tax obligation - The Howard Hughes Corporation announced that its CEO, David Weinreb, sold 400,000 shares of HHC common stock in a private transaction to satisfy personal tax obligations arising from the exercise and settlement of shares under the Warrant Purchase Agreement, dated as of November 22, 2010, between him and HHC. Weinreb continues to own 1,224,803 shares of HHC stock with a current market value of $167M, 50,374 shares of performance-based restricted stock which he received in connection with the renewal of his employment contract, and warrants to acquire 1,965,409 shares of HHC stock which he acquired in June 2017 from the company for $50M, their fair market value at the time of issuance. The June 2017 warrants cannot be hedged, sold or exercised until June 2022. Other than the 50,374 shares of performance-based stock which he received in connection with his August 2017 employment agreement, all shares and warrants owned by Weinreb were acquired by him for fair market value in open market or private transactions as he had not previously received any option or restricted stock grants.

07:31 EDT SandRidge Energy comments on Icahn Capital's intention to nominate directors - SandRidge Energy issued the following statement in response to Icahn Capital's intention to nominate directors to the SandRidge Board of Directors at the 2018 Annual Meeting of Shareholders. "The governing documents of SandRidge Energy are structured to give shareholders significant input over matters such as board composition and to implement desired changes through a vote of all shareholders. For example, shareholders may demand special meetings at any time at the request of only 25% of the outstanding shares. Additionally, every SandRidge director stands for reelection on an annual basis. Any shareholder has the ability to make proposals or nominate directors for consideration at the Company's annual meeting by following the procedures outlined in our bylaws. Consistent with this philosophy, SandRidge welcomes shareholder input and will review all qualified candidates for nomination to the Board of Directors. SandRidge has specifically offered Icahn Capital, on more than one occasion, the opportunity to submit qualified, independent candidates for the Board's consideration. None have been put forth. To the extent Icahn Capital nominates any candidates for election at the Annual Meeting, the Nominating and Corporate Governance Committee will thoroughly review those candidates and make a recommendation to the shareholders. The SandRidge Board is committed to maximizing long-term shareholder value and to acting in a manner that is in the best interests of all shareholders. Since our extensive, in person discussions with many large shareholders last December and January, the SandRidge Board has made changes to the Company's leadership team, modified and clarified our strategic objectives, implemented a focused capital program with moderate outspend and committed to reducing general and administrative cash expenses by one-third. In addition, as previously disclosed, SandRidge is undertaking a formal process to evaluate strategic alternatives, which may include divestment or joint venture opportunities associated with our North Park Basin assets and potential corporate and asset combination options with other companies. SandRidge will also evaluate credible offers to acquire the Company, including offers from Icahn Capital, and will pursue options that maximize shareholder value. To date, Icahn Capital has rejected SandRidge's offer to participate in this process on the same fair basis as other interested parties. SandRidge remains committed to conducting a thorough and impartial strategic review process that is in the best interest of all shareholders."

07:21 EDT ITG reports March U.S. trading volume 2.9B shares - ITG announced that March U.S. trading volume was 2.9B shares and average daily volume was 136M shares, compared to 2.7B shares and ADV of 144M shares in February 2018 and 3.7B shares and ADV of 159M shares in March 2017. There were 21 trading days in March 2018, 19 trading days in February 2018 and 23 trading days in March 2017.

07:16 EDT xG Technology's IMT Vislink ships 50 HCAM 4K UHD units In Q1 - xG Technology announced that its IMT Vislink business unit has shipped 50 HCAM 4K UHD units during Q1 2018. The company expects to deliver over 200 HCAM systems over the course of 2018

07:12 EDT Ionis Pharmaceuticals, AstraZeneca advance new drug for NASH - Ionis Pharmaceuticals (IONS) announced that it has licensed IONIS-AZ6-2.5-L, or AZD2693, to AstraZeneca (AZN) following advancement of the drug into development. IONIS-AZ6-2.5-L is designed to inhibit an undisclosed target to treat patients with nonalcoholic steatohepatitis. In conjunction with this milestone, global, AstraZeneca will pay a $30M license fee to Ionis. AstraZeneca will be responsible for further development and commercialization of IONIS-AZ6-2.5-L. As IONIS-AZ6-2.5-L advances in development, Ionis may also receive up to $300M in additional development and regulatory milestone payments, as well as tiered royalties up to the low teens from sales of the drug.

07:08 EDT Joint Corp. acquires clinic in San Diego, terms not disclosed - The Joint Corp. repurchased a franchised clinic located at Carmel Mountain in San Diego, increasing the number of company-owned or managed clinics to 48. "Adding the Carmel Mountain location to our company owned or managed clinics marks the beginning of a new phase of growth for The Joint," stated Peter Holt, president and CEO. "In mid-2016, we paused expansion of our corporate clinic portfolio until we achieved positive Adjusted EBITDA. Having accomplished that goal in 2017, we are now prepared to return to adding to our corporate portfolio in a strategic and measured fashion, focusing on opportunistically acquiring existing franchised clinics that fit within our overall expansion strategy and considering building new "greenfield" clinics. I cannot overstate our commitment to approaching our return to expanding the corporate portfolio in a deliberate manner, with a vigilant eye focused on the interests of our stockholders and our existing franchisees. The Carmel Mountain Clinic is ideally located within a market where we enjoy a cluster of clinics. We believe the larger our footprint, the greater our opportunity to leverage marketing and IT, to heighten our brand awareness nationally, to grow our business, and to enhance shareholder value."

07:07 EDT NanoViricides: Drug candidates in the HerpeCide program found safe - NanoViricides reports that its drug candidates in the HerpeCide program have been found to be safe based on multiple parameters in the recently completed initial non-GLP safety/toxicology study. No clinically observable adverse safety and toxicology effects were seen in this study of the Company's optimized topical dermal drug candidates. These drug candidates will now advance towards the full battery of GLP safety and toxicology studies that are needed for filing an Investigational New Drug application with the US FDA, prior to beginning human clinical trials. The drug candidates tested in this safety/toxicology study have previously shown broad-spectrum effectiveness against alphaherpesviruses, i.e. HSV-1, HSV-2, and VZV. These candidates are being developed for multiple indications in the HerpeCide program. The overall market size for our targeted indications is in tens of billions of dollars. There were no adverse effects on the skin at the treatment sites. Equally importantly, the results of the non-GLP safety and toxicology study showed that there were no overall observable systemic effects either. There were no observable direct effects on the primary organ function whether the drug was administered to the skin or administered systemically. This includes liver and kidney function. This is important as the liver and kidneys are major organs involved in drug toxicity. These results are consistent with the positive findings in a model of VZV (the shingles virus) infection of human skin in which no safety or toxicology concerns have been observed, further demonstrating the safety of these drug candidates. The drug candidates have shown strong effectiveness in these shingles virus studies as well, as previously reported. Further, these candidates have demonstrated strong anti-viral activities against HSV-1, HSV-2, and VZV in cell culture studies using multiple cell lines. Dermal topical treatment of rats with formulated drug candidates was evaluated in this study as a primary objective, since skin is the primary breakout site of HSV-1, HSV-2, and VZV infections. Additionally, the same drug candidates as formulated for systemic delivery were employed to evaluate potential systemic safety/toxicological effects.

07:04 EDT Leucadia to sell 48% of National Beef, be renamed Jefferies Financial Group - Leucadia National announced strategic transactions involving several of its investee companies, a proposal to change the name of the corporation to Jefferies Financial Group, a new share buyback authorization and preliminary results for its first quarter 2018. Leucadia has entered into a definitive agreement to sell 48% of National Beef to Marfrig for approximately $900M in cash, reducing Leucadia's ownership in National Beef to 31% and allowing Leucadia to deconsolidate National Beef and simplify Leucadia's income statement and balance sheet. The estimated pre-tax gain that will be recognized as a result of this transaction is $800M-$850M. Leucadia expects to receive an additional estimated $150M in distributions prior to the closing, representing recent profits plus a true-up to the debt number set in the enterprise valuation associated with the sale. Marfrig has also agreed to acquire a further 3% of National Beef from other shareholders and will own 51% of National Beef. Leucadia will continue to have two board seats and a series of other rights in respect of its continuing equity interest, with a lockup period of five years and thereafter fair market value liquidity protections. This transaction is subject to limited conditions and is expected to close in the second quarter. Leucadia has also agreed to sell 100% of its equity interests in Garcadia and its associated real estate to Leucadia's current partners, the Garff family. The sale price for Leucadia's interests, based on a $675M enterprise valuation, is a net $425M, payable $375M in cash and $50M in redeemable preferred equity. Leucadia will recognize a pre-tax gain of about $220M. This transaction is expected to close in the third quarter of 2018. Leucadia has cumulatively invested $321M in Garcadia since 2006 and has received cash distributions of $394M to date prior to the net $425M sale proceeds plus the pre-closing earnings distribution. To recognize the change in Leucadia's reality that has advanced considerably through the right-sizing and deconsolidation of Leucadia's interest in National Beef, Leucadia's Board of Directors will ask shareholders at the upcoming annual meeting to change the holding company name of Leucadia National Corporation to Jefferies Financial Group. "Our renamed Jefferies Financial Group Inc. will be well-capitalized, with approximately $11 billion of shareholders' equity, or $31.20 per share, and $1 billion of parent company long-term debt, pro forma for the National Beef and Garcadia deals, as of year-end 2017. It is anticipated that our new ticker on the NYSE will be JEF, effective post-approval of our name change," the company stated.

07:02 EDT Torchlight Energy Resources announces plan to market Midland Basin Assets - Torchlight Energy Resources announced that the Board of Directors has engaged ROTH Capital Partners to conduct the process of marketing the company's Midland Basin Assets also known as the Hazel Project. Torchlight owns an 80% WI in 12,000 mostly contiguous gross acres in the play and to date has drilled two science wells, one horizontal producer in the Wolfcamp A, and one cased hole well, ready for horizontal drilling and completion. The results from this drilling activity have confirmed the Lower Wolfcamp A and Upper B as well as the Upper Wolfcamp A and Dean. Further opportunity exists for a third bench in the Leonard formation. The acreage block sets up nicely for up to 10,000 foot long lateral drilling."We have begun to have discussions with a few groups regarding the potential sale of the Hazel Project," stated John Brda, CEO of Torchlight. "However, we believe that it is in the best interest of the shareholders to market our acreage to a broader audience to maximize results from such a sale. While both the management and the board are bullish about our findings in this project, recent geologic and operational developments in the Orogrande have given us sufficient information to rethink our focus and capital budget. The shear scope of the Orogrande, coupled with results to date demands our focus on the continued development of that play. The liquidity provided by selling the Hazel project for redeployment into the Orogrande makes good fiscal sense for the Company. The capital budget in Orogrande is going to increase and rather than trying to support two projects that would either require more debt or equity to fund, Torchlight feels that the best way to move forward is to free up value from the Hazel and devote it to the Orogrande. The multiplier effect of capital devoted to a play where we have 90,000 net acres as opposed to a play where we have 9,600 net acres could prove to be extremely valuable and ultimately create maximum shareholder value. Our mission on the Hazel Project was to prove the overall concept of the Wolfcamp horizontal development, increase the value of the acreage and exit at a higher value. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande."

07:01 EDT Leucadia board approves increased share buyback program of up to 25M shares

07:01 EDT Leucadia to sell 100% of equity interest in auto dealer group Garcadia

06:55 EDT Luxoft announces $60M share repurchase program - Luxoft announced that its Board of Directors has authorized the repurchase of up to an aggregate of $60M of its outstanding Class A ordinary shares. The repurchase program is expected to continue for a period of two years unless suspended, extended or discontinued by the Board of Directors.

06:48 EDT Merck: Phase 3 KEYNOTE-042 trial met primary endpoint of overall survival - Merck announced that the pivotal Phase 3 KEYNOTE-042 trial evaluating KEYTRUDA, Merck's anti-PD-1 therapy, as monotherapy for the first-line treatment of locally advanced or metastatic non-small cell lung cancer, met its primary endpoint of overall survival. An interim analysis conducted by the independent Data Monitoring Committee demonstrated that treatment with KEYTRUDA resulted in significantly longer OS than platinum-based chemotherapy in patients with a PD-L1 tumor proportion score of greater than or equal to 1%. As part of a pre-specified analysis plan, OS was sequentially tested and was significantly improved in patients with a TPS of greater than or equal to 50%, with a TPS of greater than or equal to 20% and then in the entire study population with a TPS of greater than or equal to 1%. The safety profile of KEYTRUDA in this trial was consistent with that observed in previously reported monotherapy studies involving patients with advanced NSCLC. Based on the recommendation of the DMC, the trial will continue to evaluate progression-free survival, which is a secondary endpoint. Results from KEYNOTE-042 will be presented at an upcoming medical meeting and submitted to regulatory authorities worldwide.

06:36 EDT Air Lease announces lease placement of Airbus A330-900neo with Hi Fly - Air Lease (AL) announced a medium-term lease agreement with Hi Fly for one Rolls-Royce (RYCEY) Trent 7000-powered Airbus A330-900neo aircraft. The aircraft is scheduled to deliver from ALC's order book with Airbus (EADSY) in June 2019.

06:32 EDT Coeur Mining reports Q1 production 3.2M ounces of silver, 85,383 ounces of gold - Coeur Mining announced first quarter 2018 production of 3.2M ounces of silver and 85,383 ounces of gold, or 8.3M silver equivalent ounces. Metal sales for the quarter of 3.2M ounces of silver and 87,153 ounces of gold, or 8.4M silver equivalent ounces, were in-line with production. During the quarter, the company also announced it had commenced production at its high-grade Silvertip mine in British Columbia, Canada slightly ahead of schedule. Mill throughput continues to ramp-up according to plan with commercial production expected to be achieved by mid-year. Coeur's full-year production guidance of 36M-39.4M silver equivalent ounces remains unchanged.

06:09 EDT ContraVir Pharmaceuticals appoints two researchers to Scientific Advisory Board - ContraVir Pharmaceuticals announced the appointment of leading researchers in hepatitis B virus to its Scientific Advisory Board. The newly appointed members, Professor Henry Chan Lik Yuen and Professor Jin-Lin Hou, will add support and expertise in continued development of the company's products and business objectives.

06:07 EDT Deutsche Bank CEO says to pull back from areas 'where we are not profitable' - Deutsche Bank CEO Christian Sewing told employees: "Naturally you will have questions about what our strategy will be going forward. Like other banks, all our businesses face dramatic changes in our industry - here we are not alone. In response to this, we have restructured our three business divisions significantly in recent years: a few weeks ago, we successfully listed our asset manager DWS on the Frankfurt Stock Exchange despite unfavourable market conditions. The integration of our Private & Commercial Bank in Germany with Postbank is making good progress, and we expect to merge the two legal entities in the second quarter of 2018 - seven months after the plan to integrate them was announced. In our Corporate & Investment Bank we are also doing well in important business areas globally. We have been able to recover market share in key areas. But we also know that we'll have to further adapt our revenue, cost and capital structure. Therefore we'll thoroughly analyse how we want to position this pillar of our bank in a difficult market environment. The priority is to leverage our strengths and to allocate our investments accordingly. And at the same time we will look to free up capacity for growth by pulling back from those areas where we are not sufficiently profitable. Finally, there is one thing that's particularly important for me: we should focus less on ourselves and more on our clients. They are our reason to be. And our approach should be to offer them convincing solutions and not just products. If we add value for our clients, we deserve our share of it - but only then. It is also clear that there is no such thing as a free lunch. We will have to fight to succeed and my team and I are ready to do so. Because it's worth it! It's time to finally deliver to our full potential."

06:05 EDT U.S. retailers to host pre-orders for select toys for 'Solo: A Star Wars Story' - As fans around the world count down to Solo: A Star Wars Story's debut on May 25, Lucasfilm unveiled product collections inspired by the highly-anticipated Star Wars film. The cross-category assortment spans action figures, role-play products, apparel and more that take inspiration from the upcoming movie, with comic and book titles launching in May. Retailers in the U.S. including Amazon (AMZN), Walmart (WMT), and shopDisney.com (DIS) will host pre-orders for select toys beginning April 9, with additional product available at mass retailers, Disney store, shopDisney.com and Disney Parks starting on April 13 and rolling out through May.

06:02 EDT Nexeo Solutions, BASF enter agreement to provide monitors to U.S., Canada - BASF entered an agreement with Nexeo Solutions to sell and distribute specialty acrylic and methacrylic monomers in the United States and Canada. Under the agreement terms, Nexeo Solutions will combine BASF's specialty acrylic and methacrylic monomers with its regional expertise to offer customers solutions that drive operational efficiency and value.

05:51 EDT Walmart rolling out Pickup Towers to 500 U.S. stores this year - Walmart said in a blog post that it is going to roll out more than 500 additional Pickup Towers to its U.S. stores over the course of the year, bringing the total to more than 700 by the end of 2018. With this expansion, Pickup Towers will be available to nearly 40% of the U.S. population. " We've launched all kinds of innovative services for busy families, including Online Grocery Pickup, Pickup Discount, Mobile Express Scan & Go, our growing grocery delivery service and a new partnership with Google Express. We're even testing additional concepts, similar to the Pickup Tower, that could make picking up your online order even better in the future." Reference Link

05:48 EDT Woodward records anticipated charges related to Duarte relocation - Woodward announced that it has recorded in its second quarter of fiscal 2018 specific charges totaling $17 million pre-tax, or 20c per diluted share, primarily related to its previously announced decision to move its operations located in Duarte, CA to the recently renovated Drake Campus in Fort Collins, CO. As mentioned in the previous announcement, the Duarte facility is unable to support the significant amount of new business recently awarded, including a major thrust reverser actuation system contract with Airbus. A related facilities study concluded that the Drake Campus presented the best opportunity considering a variety of relevant criteria. Included in the $17 million of specific charges is approximately $12.5 million of workforce management costs associated with the transfer of the business from Duarte to Fort Collins. An engineering center will remain in the Duarte area. In addition to the specific charges, Woodward anticipates incurring certain move related costs such as expenses associated with moving equipment, employee training, accelerated depreciation, and increased labor expenses over the coming year. "We anticipate these expenses will vary by quarter, but are expected to be approximately $12 million in total. Woodward is exploring various options with respect to the Duarte property and believes that a gain will be realized upon its disposition, which is anticipated to offset the specific charges and other costs associated with the Duarte relocation. In our Industrial segment, while Woodward has already taken considerable actions to redeploy our workforce and reduce costs, the specific charges also include approximately $4.5 million of workforce management costs related to aligning our industrial turbomachinery business with current market conditions. Beginning with the second quarter of our fiscal year, in addition to earnings as reported under US-GAAP, Woodward will report adjusted earnings, which will exclude the specific charges mentioned above as well as the incremental costs associated with the Duarte relocation."

05:45 EDT Woodward to acquire L'Orange from Rolls-Royce for $859M - Rolls-Royce (RYCEY) and Woodward (WWD) jointly announced that they have signed an agreement for Woodward to acquire L'Orange GmbH and its related operations located in Germany, the United States and China, for an enterprise value of $859M. L'Orange is part of Rolls-Royce, the power solutions provider, and specifically its Rolls-Royce Power Systems business. The transaction has been approved by the boards of directors of both Rolls-Royce and Woodward, as well as the Supervisory Board of Rolls-Royce Power Systems. The transaction is expected to close by the end of the second quarter of calendar 2018, subject to clearance from the German antitrust authorities.

05:35 EDT Iovance named as defendant in stockholder derivative complaint - Iovance Biotherapeutics disclosed late Friday that on March 28, a purported stockholder derivative complaint was filed derivatively by plaintiff Nazeer Khaleeluddin against the company and certain of the company's current and former officers and directors in the U.S. District Court for the District of Delaware. The complaint alleges, among other things, violations of securities law, breach of fiduciary duty, aiding and abetting, waste of corporate assets, and unjust enrichment. The complaint is based on claims arising from the SEC's investigation into stock promotions and the company's April 10, 2017 settlement thereof. Iovance stated, "The Company intends to vigorously defend against the foregoing complaint. Based on the very early stage of the litigation, it is not possible to estimate the amount or range of possible loss that might result from an adverse judgment or a settlement of the matter."

05:25 EDT Deutsche Bank names Christian Sewing new CEO, John Cryan leaving - The Supervisory Board of Deutsche Bank last night appointed Christian Sewing as Chief Executive Officer with immediate effect. He succeeds John Cryan who will leave the bank at the end of this month. Additionally, the Supervisory Board has appointed Management Board members Garth Ritchie and Karl von Rohr as new Presidents. Sewing has been a member of the Management Board since January 1, 2015. He was appointed as President in March 2017. Most recently he was responsible for Deutsche Bank's Private & Commercial Bank. Paul Achleitner, Chairman of the Supervisory Board, said, "Despite his relatively short tenure as CEO, John Cryan has played a critical role in the almost 150 year history of Deutsche Bank - and laid the groundwork for a successful future of the bank. The Supervisory Board in general and I personally are grateful for this. However, following a comprehensive analysis we came to the conclusion that we need a new execution dynamic in the leadership of our bank."