Stockwinners Market Radar for April 18, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:27 EDT BancorpSouth acquires Icon Capital Corp for stock and $17.5M in cash - BancorpSouth Bank announced the signing of a definitive merger agreement with Icon Capital Corporation and its wholly owned subsidiary, Icon Bank of Texas, National Association pursuant to which Icon Capital Corporation will be merged with and into BancorpSouth Bank. Icon operates seven full-service banking offices in the Houston, Texas metropolitan area. As of March 31, 2018, Icon, on a consolidated basis, reported total assets of $794 million, total loans of $624 million and total deposits of $692 million. BancorpSouth Bank operates two full-service banking offices, one mortgage loan production office, and one regional insurance office in the Houston market. Under the terms of the merger agreement, BancorpSouth Bank will issue 4,125,000 shares of BancorpSouth Bank common stock, plus $17.5 million in cash, for all outstanding shares of Icon Capital Corporation capital stock, subject to certain conditions and potential adjustments.

19:49 EDT PS Business Parks completes Orange County business center sale for $73.3M - PS Business Parks announced that on April 18, 2018 it completed the sale of Orange County Business Center located in Orange County, California. The park consists of five multi-tenant office buildings comprising approximately 437,000 square feet, which were 84.9% occupied at the date of sale. Net proceeds from the sale, after transaction costs, were approximately $73.3 million. After closing on this sale, the company has 107,000 square feet remaining of the 705,000 square feet of office product in Orange County, California, previously disclosed as held for sale.

19:19 EDT Roche expands indication for cobas EGFR Mutation Test v2 - Roche announced it has received approval from the U.S. Food and Drug Administration of its Premarket Approval supplement for the cobas EGFR Mutation Test v2 to be used as a companion diagnostic test with TAGRISSO for first line treatment of patients diagnosed with metastatic NSCLC whose tumours have epidermal growth factor receptor exon 19 deletions or exon 21 L858R mutations. A companion diagnostic test is a medical device which provides information that is essential for the safe and effective use of a corresponding therapeutic product. Clinical studies have demonstrated that patients diagnosed with NSCLC who test positive for defined mutations of the epidermal growth factor receptor gene benefit from tyrosine kinase inhibitor therapies. The cobas EGFR Mutation Test v2 was previously FDA-approved as a companion diagnostic test with TAGRISSO for second line treatment and beyond in NSCLC patients who test positive for the EGFR T790M mutation. The test is also a companion diagnostic test with Tarceva for NSCLC patients who test positive for the EGFR exon 19 deletion or L858R sensitizing mutations. Approvals thus far are for both tissue and liquid biopsy. EGFR testing in plasma offers a non-invasive option for patients using a simple blood draw for those who are not eligible for a tissue biopsy. In addition, the workflow for cobas EGFR Mutation Test v2 enables patients and clinicians to obtain results in as little as one day.

19:06 EDT Celanese raises quarterly dividend 17% to 54c per share - Celanese Corporation announced that its board of directors has approved a 17% increase in the company's quarterly common stock cash dividend. The dividend increased from 46c to 54c per share of common stock on a quarterly basis and from $1.84 to $2.16 per share of common stock on an annual basis. The new dividend rate will be effective immediately.

18:54 EDT Ribbon files patent infringement suit against Metaswitch, seeks enhanced damages - Ribbon Communications announced that its wholly owned subsidiary filed a patent infringement lawsuit against Metaswitch in the United States District Court for the Eastern District of Texas. This lawsuit seeks enhanced damages for Metaswitch's continued infringement of seven Ribbon patents that Metaswitch has already been found to infringe in an earlier lawsuit. The lawsuit filed today also seeks damages resulting from Metaswitch's false and misleading statements to the market regarding the earlier suit. Today's lawsuit follows the March 22, 2018 entry of Final Judgment, in the earlier suit, in which the Court confirmed a jury's verdict upholding the validity of Ribbon's patents and finding that Metaswitch products infringe. The infringing products include Metaswitch's Session Border Controllers, Softswitches, Call Feature Servers, Gateways and MTAS platform. In the Final Judgment, the Court awarded Ribbon $8.9M plus interest and awarded $368,046 in costs to Ribbon as the prevailing party. The Court also ordered Metaswitch to pay additional royalties and set the rates to apply for another two-year period of past infringement during which Metaswitch continued to sell infringing products. In the suit filed today, Ribbon seeks damages for Metaswitch's continued infringement for its allegedly "redesigned" products. Ribbon contends that those products still infringe and seeks a finding that Metaswitch's infringement is willful. Consistent with the court's ruling in the earlier case that the royalty rate should be increased for ongoing infringement, Ribbon will seek damages at a higher rate in this new suit, and Ribbon will seek additional enhancement of those damages based on the willful nature of the infringement. This suit also seeks damages for Metaswitch's false and misleading statements regarding those "redesigned" products and the nature of the Court's ruling regarding whether those products infringe. In addition to the suit filed today, Ribbon recently filed two other patent infringement suits against Metaswitch asserting ten additional patents. These ten patents originate from Ribbon subsidiary Sonus who, like GENBAND, was an early and frequent innovator. Finally, Ribbon looks forward to a trial in November 2018 on its claims alleging a widespread pattern of misappropriation of GENBAND trade secrets by Metaswitch.

18:49 EDT BHP Billiton reports Q3 iron ore output 58M tons, up 8% from last year - Reports Q3 Copper output 457K tons, up 101%. Reports Q3 Petroleum output 45MMBoe, down 12%. Reports Q3 Energy coal output 6M tons, down 16%. Reports Q3 Metallurgical coal output 10M tons, up 7% from year-ago.

18:08 EDT Valmont says consolidated some facilities as part of restructuring plan - Valmont state: "As announced in February, the company initiated a restructuring plan at the beginning of the year. During the quarter, restructuring actions taken included the consolidation and closure of certain facilities, and realignment of back-office and management functions. As the company analyzes its optimal footprint and cost structure, further actions may be considered."

18:03 EDT Steel Dynamics CEO says saw improved demand and pricing across platform - CEO Mark D. Millett says: "Our first quarter 2018 income from operations increased 65 percent sequentially to $323 million, with adjusted EBITDA of $400 million. During the first quarter, we saw improved demand and product pricing across the entire steel platform. The increase in earnings was principally driven by our flat roll operations, as improved demand and pricing, supported meaningful volume and margin expansion. Domestic steel consumption remained strong from the automotive and construction sectors, while energy and general industrial demand continued to grow... We remain confident that current and anticipated macroeconomic and market conditions are in place to benefit domestic steel consumption in 2018. Domestic steel inventory levels remain reasonably balanced. World steel demand and pricing have improved. Based on strong domestic steel demand fundamentals and customer optimism, we believe price momentum and growth in steel consumption will continue during the year. We also believe recent U.S. Federal Administration steel trade actions will result in reduced imports during the year, and that tax reform will provide a stimulus for additional domestic fixed asset investment and growth. In combination with our expansion initiatives, we believe there are firm drivers for our growth in 2018."

17:27 EDT Amazon says Prime has over 100M paid members globally - According to a regulatory filing, Amazon said that it has exceeded 100M paid Prime members globally 13 years post-launch. In 2017, Amazon shipped more than 5B items with Prime worldwide, and more new members joined Prime than in any previous year - both worldwide and in the U.S. Members in the U.S. now receive unlimited free two-day shipping on over 100 million different items. The company expanded Prime to Mexico, Singapore, the Netherlands, and Luxembourg, and introduced Business Prime Shipping in the U.S. and Germany.

17:20 EDT Lockheed Martin awarded $928M U.S. Air Force contract - Lockheed Martin Corp is the successful offeror of a $928,000,000 ceiling indefinite-delivery/indefinite-quantity contract for the hypersonic conventional strike weapon. This contract provides for the design, development, engineering, systems integration, test, logistics planning, and aircraft integration support of all the elements of a hypersonic, conventional, air-launched, stand-off weapon.

17:12 EDT Aceto in discussons with lenders, sees reduction of dividend, reviewing options - Al Eilender, Chairman, said, "Given continued headwinds in the generics market, the Board has taken decisive action by bolstering the Company's senior leadership, engaging in proactive discussions with its secured lenders, and initiating a thorough evaluation of strategic alternatives. The Board looks forward to working with and supporting management throughout this process and appreciates the continued dedication of its employees and other stakeholders while it navigates this difficult industry environment." ACETO's Board of Directors has taken several immediate and proactive steps to address these developments:The company is having productive discussions with its secured lenders regarding implementation of a covenant waiver for the third fiscal quarter of 2018. To provide appropriate assurances to its lenders, to fortify the balance sheet and to preserve the Company's liquidity position, the Board anticipates a significant reduction of the company's dividend going forward. The Board announced the appointment of Rebecca Roof as Interim CFO and the resignation of CFO Edward Borkowski, who has decided to pursue another opportunity. The Board has named Director Alan Levin as Non-Executive Vice Chairman of the Board. The Board has initiated a process to identify and evaluate a range of strategic alternatives. Strategic alternatives to be considered may include the sale of a key business segment, a merger or other business combination with another party, continuing as a standalone entity or other potential alternatives. The company has retained PJT Partners as its financial advisor and Lowenstein Sandler LLP as its legal counsel to assist in this strategic review process. ACETO cautions that there can be no assurance that the strategic review process will result in any transaction. The company is in the process of finalizing the actual amount of the impairment charges. The Company expects that the analysis supporting the impairment will be completed in time to allow for its recording in the third quarter of FY18.

17:10 EDT Del Taco continues expansion in Atlanta, Georgia - Del Taco Restaurants is continuing its expansion in and around Atlanta. Led by franchise veteran Mac Kamara, MK Energy, which operates brands such as BP, Circle K and Subway, has signed on to develop seven locations across the south central area of Atlanta, Georgia.

17:05 EDT Zimmer Biomet to implement Solutions Outpatient Program at Oregon nstitute - Zimmer Biomet Holdings, a global leader in musculoskeletal healthcare, today announced an agreement with Oregon Surgical Institute, a new ambulatory surgery center in Beaverton, Ore., to implement the Zimmer Biomet Signature Solutions Outpatient Program. Oregon Surgical Institute, a joint venture between Regent Surgical Health and West End Surgical, LLC, is designed specifically to treat complex cases and procedures focused on total joint replacement and spine disorders. As part of the Zimmer Biomet Signature Solutions Outpatient Program, Oregon Surgical Institute will implement Consulting Services, a suite of technologies that assist institutions in improving their bottom lines and quality of care, and HealthLoop, a technology platform that engages patients at home before their admission and after discharge to continuously guide, educate and assess the status of their recovery. Together, these services better connect healthcare professionals with their patients, delivering efficiencies and cost savings.

17:02 EDT Innoviva IMPACT Trelegy Ellipta COPD study published in NEJM - GlaxoSmithKline (GSK) and Innoviva (INVA) announced the publication in the New England Journal of Medicine of the landmark IMPACT study, one of the biggest ever conducted in patients with chronic obstructive pulmonary disease - COPD - with a history of exacerbation. In the study, Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol, achieved superiority to members of two different classes of dual combination therapy, Relvar/Breo and Anoro, on the primary endpoint of reduction in the annual rate of on-treatment moderate/severe exacerbations ( and a range of other clinically important outcomes, including lung function and health-related quality of life.

17:01 EDT Bluebird Bio says interim LengiGlobin data published in NEJM - Bluebird Bio announced interim data published in the New England Journal of Medicine from two separate two-year clinical studies investigating the potential for LentiGlobin gene therapy to eliminate or reduce chronic blood transfusions in patients with transfusion-dependent beta-thalassemia. Both studies, Northstar, which recently was completed, and HGB-205, which is ongoing, are evaluating the safety and efficacy of one-time treatment with LentiGlobin gene therapy and the interim results showed that a majority of the 22 patients in the two Phase 1/2 studies followed for two years or longer remained free from transfusions. Interim results also showed that all but one patient with a non-beta0/beta0 genotype stopped receiving regular red blood cell transfusions, with a median time since last transfusion of 27 months. In the nine patients with a beta0/beta0 genotype or similar severity, median transfusion volume decreased by 73 percent, and RBC transfusions were stopped in three patients. Treatment with LentiGlobin requires an autologous stem cell transplant. The safety profile of LentiGlobin has been consistent with myeloablative conditioning with the chemotherapy agent busulfan. "These interim data demonstrate the potential of LentiGlobin gene therapy to address the underlying genetic cause of TDT and increase production of functional red blood cells," said Dave Davidson, M.D., chief medical officer, bluebird bio. "Nearly all patients in the two studies with a non-beta0/beta0 genotype achieved freedom from chronic blood transfusions and, importantly, several of these patients reached normal or near-normal total hemoglobin levels and sustained those levels throughout the interim study period. We hope the refined manufacturing process implemented in our ongoing pivotal trials of LentiGlobin will translate into further normalization of total hemoglobin levels across genotypes."

16:57 EDT Intracoastal Capital reports 9.2% passive stake in RXi Pharmaceuticals

16:49 EDT Wynn Resorts 'refreshes' board with female appointments - The board of Wynn Resorts announced that it has expanded its board to 11 members, with the appointment of Betsy Atkins, Dee Dee Myers and Wendy Webb as independent directors, effective immediately. The board approved the new directors at a previously scheduled meeting in-person in Las Vegas on April 17...The Wynn Resorts Board now comprises 36% women, bringing Wynn into the top 40 S&P 500 companies in terms of female board representation. "We are pleased to welcome Betsy, Dee Dee and Wendy to the Wynn Resorts Board of Directors following a thorough search process that included input from shareholders and an independent executive search firm," said D. Boone Wayson, Chairman of the Wynn Resorts Board of Directors. "We are confident that their extensive and wide-ranging expertise will provide fresh and valuable perspectives to support the Company's leadership team and business strategy.""To be clear, this is the first step in our effort to refresh the Board," said Wayson. "We intend to add additional new directors in the coming months. The Board is committed to enhancing value for our shareholders, delivering superior experiences for customers and creating a supportive and inclusive environment for all of the Company's employees."

16:49 EDT Canadian Pacific says labor situation could be near-term headwind - Comments from Q1 earnings conference call.

16:40 EDT Greenbrier reports Whitehall has been promoted to GMO North American ops - Alejandro Centurion, President, GMO, announced the following promotions and expanded assignments: Owen Whitehall has been promoted to Executive Vice President, GMO North American Operations and Global Sourcing, reporting to Centurion. This move will deploy Whitehall's broad experience in global sourcing and manufacturing operations for future growth. Martin Graham assumes the expanded role of Executive Vice President, GMO International Operations and Global Engineering, also reporting to Centurion. He will continue to maintain oversight of all engineering and quality assurance functions Company-wide and provide GMO support for all Company activities in North America, Europe, GCC and Brazil.

16:35 EDT Andeavor Logistics increases quarterly dividend 1.5% to $1.015 per share - Andeavor Logistics announced the declaration of its quarterly cash distribution for Q1 of $1.015 per limited partnership unit, or $4.06 on an annualized basis. This distribution represents a 1.5% increase over the prior quarterly distribution of $1.00 per limited partnership unit, or $4.00 per unit on an annualized basis. This represents the 28th consecutive quarterly increase. The first quarter distribution will be paid May 15 to all unitholders of record as of May 1. Over the prior four quarters, Andeavor Logistics has increased its distribution to limited partners by 8%.

16:33 EDT Chase Corporation sells structural composites business for about $2.1M - Chase Corporation announced that it has sold its structural composites rod business to Roblon US, Inc. for a purchase price of approximately $2,100,000, pending any working capital adjustments and excluding any future royalty payments to be made by the buyer. The transaction, entered today, is set to close on April 20, 2018. The substantially full divestiture of the structural composites business follows Chase Corporation's sale of the RodPack wind blade components business in November 2015, and the licensing of certain composite technologies during the second quarter of fiscal 2018, both to separate and unrelated firms. Chase Corporation's sale of its structural composites rod business to Roblon in April 2018 follows the company's sale of its fiber optic cable components business, also to Roblon, in April 2017.

16:28 EDT Flexion publishes Phase 3 Zilretta results that met primary endpoint - Flexion announced that the key results from the previously completed pivotal Phase 3 study evaluating Zilretta have been published in the print and online edition of the Journal of Bone and Joint Surgery. Zilretta was approved by the FDA on October 6, 2017, as an intra-articular, or IA, injection for the management of pain associated with osteoarthritis, or OA of the knee. The randomized, double-blind, placebo-controlled, active-comparator Phase 3 trial enrolled 484 patients at 37 centers worldwide. Patients were randomized to one of three treatment groups and received either a single IA injection of Zilretta, normal saline-placebo or triamcinolone acetonide in crystalline suspension. Data from this study served as the foundation for Zilretta's new drug application and subsequent FDA approval. The primary study objective was to assess the magnitude of pain relief at 12 weeks in patients receiving Zilretta compared with saline-placebo as measured by the weekly mean of the average daily pain score. Each patient was evaluated for efficacy and safety during seven outpatient visits over 24 weeks after receiving an injection. Zilretta met its primary endpoint, demonstrating a highly statistically significant reduction in ADP versus saline-placebo at week 12, with durable pain relief in patients with moderate to severe OA knee pain, provided an approximately 50% reduction in pain from baseline over weeks 1 through 12 and demonstrated an acceptable safety profile, with adverse events being generally mild and occurring at similar frequencies across treatment groups.

16:25 EDT Community Health to sell assets of Ocala, FL hospital, terms not stated - Community Health Systems announced that an affiliate of the company has signed a definitive agreement to sell substantially all of the associated assets of 421-bed Munroe Regional Medical Center in Ocala, Florida, to Florida Hospital Ocala, Inc., a subsidiary of Adventist Health System Sunbelt Healthcare Corporation. As part of the transaction, Florida Hospital will assume the long-term lease and operations of Munroe Regional Medical Center. The transfer of the lease is subject to the consent of the Marion County Hospital District. The transaction is expected to close in the third quarter of 2018, subject to customary regulatory approvals and closing conditions. The hospital included in this transaction is among the additional planned divestitures discussed on the company's fourth quarter 2017 earnings call.

16:23 EDT Pier 1 down over 15% afterhours after Q4 miss, discontinued buyback and dividend

16:22 EDT Pier 1 Imports discontinues share repurchase program and dividends - Pier 1 Imports states: "The company did not repurchase any shares under its common stock repurchase plan during the quarter ended March 3, 2018. Of the company's $200 million share repurchase program announced in April 2014, $26.6 million remains available for repurchases. The Board of Directors has determined to discontinue share repurchases at the present time under the company's existing share repurchase program... The Board of Directors has determined to discontinue the common stock dividend, which will enable the company to allocate greater resources toward implementing its three-year strategic plan to drive sales and earnings growth and increase shareholder value. Discontinuing the quarterly cash dividend of $0.07 per share is expected to contribute approximately $22 million of incremental cash flow in fiscal 2019."

16:19 EDT Bristol-Myers says FDA accepts sBLA for Opdivo for priority review - Bristol-Myers Squibb Company announced that the U.S. Food and Drug Administration has accepted for priority review its supplemental Biologics License Application for Opdivo to treat patients with small cell lung cancer whose disease has progressed after two or more prior lines of therapy. The FDA action date is August 16, 2018. The submission was based on safety and efficacy data from the SCLC cohort of the Phase 1/2 CheckMate -032 trial evaluating Opdivo monotherapy following platinum-based chemotherapy.

16:18 EDT United Rentals authorizes new $1.25B share repurchase program - United Rentals said that, on April 17, 2018, its board of directors authorized a new $1.25B share repurchase program which will commence upon completion of its existing program. The company intends to complete the new share repurchase program by the end of 2019.

16:15 EDT Ichor Holdings acquires IAN Engineering, terms not disclosed - Ichor Holdings announced that its wholly-owned subsidiary, Ichor Systems Korea. Ltd., has entered into a stock purchase agreement for the acquisition of IAN Engineering Co., Ltd., a leader in providing locally-sourced design and manufacturing of gas delivery systems to customers in South Korea, for an undisclosed amount. The acquisition will be financed with cash on hand. The acquisition, expected to close at the end of the second quarter, is projected to add approximately $20 million to revenue on an annual basis, starting in the second half of 2018, and is expected to be accretive to our non-GAAP adjusted diluted earnings per share for fiscal 2018.

16:11 EDT Kinder Morgan raises quarterly dividend 60% to 20c per share - Kinder Morgan, announced that its board of directors approved a cash dividend of 20c per share for the first quarter payable on May 15, 2018, to common stockholders of record as of the close of business on April 30, 2018. This is a 60 percent increase from last quarter's dividend, and is consistent with the plan KMI announced during the summer of 2017. KMI continues to expect to use cash in excess of dividend payments to fully fund growth investments, further strengthening its balance sheet.

16:09 EDT Guaranty Bancorp increases quarterly dividend 30% - Guaranty Bancorp increased its quarterly dividend to 16.25c per share from 12.5c in 2017, an increase of 30%.

16:07 EDT American Express reports Q1 Global Commercial Services net income $552M - Global Commercial Services reported first-quarter net income of $552 million, up 35 percent from $409 million a year ago. Total revenues net of interest expense were $3.0 billion, up 9 percent from $2.8 billion a year ago. The increase primarily reflected higher Card Member spending. International Consumer and Network Services reported first-quarter net income of $291 million, up 15 percent from $252 million a year ago. Total revenues net of interest expense were $1.8 billion, up 12 percent from $1.6 billion a year ago. The increase primarily reflected higher Card Member spending and net card fees. U.S. Consumer Services reported first-quarter net income of $640 million, up 30 percent from $494 million a year ago. Total revenues net of interest expense were $3.7 billion, up 13 percent from $3.3 billion a year ago. The rise primarily reflected higher loans, increased Card Member spending, and the benefit of the recent acquisition of the Hilton portfolio. Global Merchant Services reported first-quarter net income of $472 million, up 32 percent from $357 million a year ago. Total revenues net of interest expense were $1.2 billion, up 10 percent from $1.1 billion a year ago. The increase primarily reflected higher Card Member spending, partially offset by a decrease in the average discount rate. Corporate and Other reported first-quarter net loss of $321 million compared with net loss of $261 million a year ago, primarily reflecting a transaction involving the company's prepaid operations.

16:06 EDT Bio-Path Holdings announces pre-clinical data for prexigebersen - Bio-Path Holdings announced that data from pre-clinical studies supporting the potential of prexigebersen in the treatment of solid tumors in gynecologic malignancies were presented in a poster at the annual meeting of the American Association for Cancer Research, or AACR. The poster titled, "Grabbing GRB2: The use of Liposome-incorporated Grb2 antisense oligonucleotides as a novel therapy in gynecologic malignancies," was presented by Olivia Lara during the Experimental and Molecular Therapeutics Poster Session. The data summarize results from studies investigating the expression of GRB2 in a series of in vitro experiments in high-grade serous, or HGSC and uterine carcinoma models. The study also examined the biological effects of prexigebersen in HGSC mice models, first in a dose-defining experiment then in combination with standard dose paclitaxel. The data showed there was an eighty-six percent decrease in tumor burden and multinodular burden in the combination prexigebersen/paclitaxel group compared to control. In addition, there was no apparent toxicity with mice on combination therapy losing less weight than the paclitaxel-only group.

16:03 EDT Canadian Pacific reports Q1 volumes up 6%, carloads up 4% - Volumes as measured by revenue ton-miles increased 6% and carloads increased 4%.

16:02 EDT Sientra receives FDA approval of PMA supplement - Sientra announced FDA approval of the company's PMA supplement allowing commercialization of its OPUS-branded breast implant products manufactured by Vesta, a Lubrizol LifeSciences company, at Vesta's Wisconsin-based manufacturing facility. With this FDA approval, Sientra has gained access to an additional $10.0M tranche of term debt under its credit facility with MidCap Financial Services and Silicon Valley Bank.

15:07 EDT Novo Nordisk says Xultophy approved in Canada for diabetes treatment - Novo Nordisk announced that Health Canada has approved Xultophy as an adjunct to lifestyle modifications, for the once-daily treatment of adults with type 2 diabetes mellitus to improve glycemic control in combination with metformin, with or without sulfonylurea, when these combined with basal insulin or liraglutide, do not provide adequate glycemic control.

15:03 EDT Globalstar announces release of portable satellite hotspot Sat-Fi2 - Earlier today, Globalstar introduced Sat-Fi2, "a lightweight, portable satellite hotspot providing reliable communications through any Wi-Fi enabled smart device." Sat-Fi2 provides seamless connectivity powered by Globalstar's modernized satellite network and represents the first product utilizing Globalstar's next generation ground infrastructure. Now available in the US and Canada, Sat-Fi2 is the company's newest product aimed to increase business efficiencies and consumer connectivity through continuous communications, independent of the limitations provided by terrestrial cellular networks.

14:32 EDT CN to acquire 350 boxcars to meet growing forest products, metals demand - CN announced it will acquire 350 premium boxcars to serve growing demand from industrial customers across its North American network. The leased 50-foot, high-capacity plate F boxcars, equipped with 12-foot plug doors, are expected to be delivered beginning in late summer with all the cars in service by the end of 2018. "These additional boxcars, combined with our new locomotives, hundreds of new train crew members, and track expansion investments, will help give us the capacity and network resiliency we need for pulp, paper and metals customers," said CN vice president of bulk Doug MacDonald.

14:04 EDT General Dynamics awarded Army INSCOM contract worth up to $300M - General Dynamics Information Technology, a business unit of General Dynamics, was awarded the Intelligence and Security Command, or INSCOM, Information Technology Support Services 3 contract to continue to operate and maintain the IT networks for the U.S Army. The single-award task order contract has a potential value of approximately $300M. Under the contract, General Dynamics will provide network and maintenance operations, storage management, information assurance, engineering and installation, web services and communications support for continued operations. Work on this contract will be performed at Fort Belvoir, Va.; Fort Gordon, Ga.; and additional locations worldwide.

13:21 EDT Coinbase names Alesia Haas CFO - In a blog post, Coinbase president and COO Asiff Hirji said, "Today, we're very excited to announce that Alesia Haas will join Coinbase as the company's CFO. In her role at Coinbase, Alesia will allow us to accelerate our goal of building a world-class financial team that scales with the company through this period of profound growth. She is a seasoned financial services executive who brings extensive experience in managing highly regulated complex financial institutions...Alesia joins us from Oz Management, a global alternative asset management firm based in NYC, where she served as CFO...She begins immediately while helping Oz Management with the transition through June 1, 2018." Reference Link

13:03 EDT GoPro launches trade-up program for HERO6 Black, Fusion cameras - GoPro announced the launch of its camera Trade-Up program, "offering users in the United States the ability to trade up from any previous-generation GoPro, or any other digital camera, to experience its latest and greatest products. Starting today, anyone in the U.S. can receive $50 off a new HERO6 Black or $100 off Fusion by participating in the program at GoPro.com." GoPro first introduced its Trade-Up program for a limited time in 2017, which only accepted previous-generation GoPro models in exchange for a discounted upgrade to a current model. Nearly 12,000 customers participated in the 60-day promotion. The new Trade-Up program brings back the initiative with major enhancements, including the acceptance of any digital camera and making it an everyday offer.

12:41 EDT GM's Cadillac head Johan de Nysschen leaves to 'pursue other interests' - General Motors announced the appointment of Steve Carlisle as General Motors SVP and president, Cadillac, replacing Johan de Nysschen, who is leaving the company effective immediately. A news release said de Nysschen is leaving "to pursue other interests." Travis Hester, currently VP, Global Product Programs, is named president and managing director, GM Canada, replacing Carlisle. The transition will begin immediately. "We appreciate Johan's efforts over the last four years in setting a stronger foundation for Cadillac," said General Motors President Dan Ammann. "Looking forward, the world is changing rapidly, and, beginning with the launch of the new XT4, it is paramount that we capitalize immediately on the opportunities that arise from this rate of change. This move will further accelerate our efforts in that regard." Carlisle will report to Dan Ammann.

12:40 EDT Goldman Sachs CEO Blankfein says economy looks good, trade debacle unlikely - During a CNBC interview earlier in the day, Goldman Sachs (GS) CEO Lloyd Blankfein reassured stock market investors with his comments on the economy. "If you divorce yourself from a general feeling of anxiety and just look at the facts and the numbers and what you can measure, you can say things look awfully good, and it feels like awfully good in a way that there could be a bit of a runway here for things to remain pretty good," Blankfein said in an interview on CNBC's Squawk Box this morning. DOWNPLAYS TRADE WAR: Blankfein does not foresee a "a full-blown trade war" between the U.S. and China, because both countries would be damaged in the process. "We need each other on a lot of other things as well. Look at the security situation in the world with North Korea," Blankfein said, referring to the U.S. relationship with China. "There are other things at stake here, maybe bigger things at stake that will provide another impetus for us getting together and working these issues out." GOLDMAN'S NEXT CEO: Blankfein will likely retire later in 2018, and the issue of succession at the bank has been a widely discussed topic. David Solomon, who takes over a COO later in April, will most likely be Blankfein's successor. "There's a lot of complexity to our sales and trading business, our investing business, our activities overseas," Blankfein said. "I think it's good for him [Solomon] to be a kind of CEO-in-waiting if you will."

12:29 EDT CFM says blade inspections run on Southwest fleet out of 'abundance of caution' - CFM issued the following statement on Southwest Airlines (LUV) Flight 1380: "GE and Safran technicians (about 40 in total) are being deployed to support Southwest Airlines' accelerated inspection program related to the CFM56-7B engine, which powers most of the airline's Next-Generation 737 fleet. Out of an abundance of caution, the ultrasonic inspections are being conducted on a population of fan blades. Working with Boeing, GE and Safran, SWA expects the accelerated inspections to be completed over the next 30 days. The CFM56-7B engine is produced by CFM International, a 50/50 joint company of GE and Safran Aircraft Engines. CFM has sent a team of technical representatives to the site to assist the National Transportation Safety Board in its investigation of Tuesday's event involving a CFM56-7B engine on a SWA Boeing 737-700 during a flight from New York to Dallas. CFM will support the NTSB and Southwest Airlines in determining the cause of the accident. CFM and its parent companies, GE and Safran, will make every resource necessary available to ensure support. By law, CFM cannot provide information about the accident or details related to it. You may contact the NTSB for updates."

12:02 EDT Sonoco increases dividend 5.1% to 41c per share - The board of directors of Sonoco declared a 41c per share quarterly common stock dividend, a 5.1% increase from the previous quarterly dividend of 39c per share. The dividend will be paid on June 8 to shareholders of record as of May 11.

11:53 EDT ViewRay jumps 11% ater unveiling new technology for soft tissue visualization - Earlier today, ViewRay announced new MR imaging technologies under development for its MRIdian Linac radiotherapy system. Designed to improve tumor and soft tissue visualization, these enhancements to MRIdian's SmartVISION(TM) MR image guidance are expected to further improve the precision by which radiation is delivered to treat cancer. Shares are up 10.7% or 76c to $7.88 per share.

11:37 EDT Wayfair rises after company announces own version of Amazon's Prime Day - Shares of Wayfair (W) are higher after the company announced it is launching its own version of Amazon's (AMZN) Prime Day. Way Day is a new annual retail event that will offer customers low prices and free shipping, the company said. WAY DAY: On Wednesday, Wayfair announced it is launching Way Day, a new retail event taking place on April 25 that will offer customers "the lowest prices of the year" and free shipping on all orders. Beginning at midnight, Wayfair will offer "Black Friday-low prices" for 24 hours on over 70,000 products including home furnishings, decor and home improvement items. The company, which will also be launching door-buster deals every six hours, said customers can browse Way Day deals on desktop or on mobile through the Wayfair app. In addition, Wayfair credit card holders who shop Way Day deals will earn triple rewards on all purchases made with their card. EXECUTIVE COMMENTARY: "We are looking to put a new retail holiday on the map that celebrates home. Spring is the season when our customers are especially focused on sprucing up and furnishing outdoor spaces in anticipation of warm weather and summer entertaining," said chief merchandising officer Steve Oblak. "Many are also readying their homes for sale or moving into new ones. During Way Day, we'll offer the best door-buster prices at a time when we know our customers value it most. We have partnered with our suppliers to source the best deals on the most popular products across all categories of furniture, decor, outdoor living and home improvement just in time for spring." WHAT'S NOTABLE: Wayfair is following Amazon's Prime Day and Alibaba's (BABA) Singles Day with the new offering. The retailer has seen more competition from Amazon, Target (TGT) and Walmart (WMT), which are increasing their online furniture offerings. Wayfair has also been mentioned as a potential acquisition target for Amazon by analysts. WAY DAY TIMING 'IDEAL': Following Wayfair's announcement, Piper Jaffray analyst Peter Keith said he thinks the timing of Wayfair's new annual retail holiday is ideal, given that it is in-line with Spring buying season and at a time when other retailers in the space are typically quiet. The analyst also said the event will enable the company to showcase its "best-in-class" logistics capabilities for new and repeat customers which could result in more repeat business moving forward. In addition, due to Way Day's placement a week before the scheduled first quarter earnings announcement, the event should allow Wayfair to provide a "healthy" Q2 quarter-to-date update and should also give a lift to Q2 revenues, Keith said. For perspective, the analyst also noted that Amazon saw an about 350 basis points lift to its unit growth in the quarter when it launched Prime Day in 2015. Keith keeps an Overweight rating and $92 price target on Wayfair shares. PRICE ACTION: Wayfair rose about 2.5%, or $1.69, to $69.93 in late morning trading.

11:28 EDT Volkswagen says 'not reporting any changes to its plans' for Navistar - In a regulatory filing, Volkswagen Truck & Bus (VLKAY), which holds a 16.85% stake in Navistar (NAV), stated: "On April 16, 2018, various news sources interpreted remarks, during a question and answer session, by representatives of VW T&B to suggest that an acquisition of [Navistar] by VW T&B is under consideration. VW T&B is not reporting any changes to its plans or proposals for [Navistar] as set forth in this Section 4 of this Statement, although as previously disclosed, VW T&B continuously reviews its investment in [Navistar] and may in the future determine to undertake various actions in connection with its investment, including the possible acquisition of [the company.] In addition, it was reported that a representative of VW T&B had stated that increases by VW T&B in its level of ownership of [Navistar] above current levels would not be possible without VW T&B being required by Delaware law to make an offer to acquire all of the remaining outstanding shares of common stock not owned by it. VW T&B hereby corrects such statement by noting that neither U.S. securities law nor Delaware law includes such a requirement."

11:16 EDT United Continental says already started inspection on jet engines

11:06 EDT Kentucky, in lawsuit, claims J&J's 'misinformation' caused addiction - Kentucky Attorney General Andy Beshear filed a lawsuit against Johnson & Johnson saying the company's "campaign of misinformation caused addiction." In the lawsuit filed today, Beshear alleges Johnson & Johnson and its subsidiaries "devised a deceptive marketing scheme in order to generate higher profits from their opioid drugs Duragesic, Nucynta and Nucynta ER." Janssen "allegedly told doctors and patients that their opioid medications were safer than other alternatives, and misrepresented that opioids were "rarely addictive" when used for chronic pain," Beshear said in a statement. He claims J&J specifically targeted elderly patients, knowing the population had a higher risk of addiction, adverse effects, hospitalization and death. Beshear is seeking civil penalties and compensatory and punitive damages from Johnson and Johnson for violating Kentucky's Consumer Protection Act and the Kentucky Medicaid and the Kentucky Assistance Program fraud statutes. Other states that have sued Janssen include Arkansas, Louisiana, Mississippi, Missouri, New Mexico, Ohio, Oklahoma and South Dakota. Shares of Johnson & Johnson are down 3%, or $3.47, to $127.08 in late morning trading. Reference Link

11:04 EDT eBay rises as Morgan Stanley double upgrades on payments shakeup - Shares of eBay (EBAY) are on the rise after Morgan Stanley analyst Brian Nowak upgraded eBay (EBAY) two notches to Overweight as he expects the company to start intermediating its own payments, pulling away from PayPal (PYPL), which could be a driver of more sustained gross merchandise volume growth. MORGAN STANLEY SAYS BUY EBAY: In a research note this morning, Morgan Stanley's Nowak upgraded eBay two notches, to Overweight from Underweight, and raised his price target on the shares to $58 from $36. The analyst told investors that he expects eBay to start intermediating its own payments, pulling away from PayPal, in 2018 as management stated on its fourth quarter conference call. Nowak is bullish about this initiative as he has seen other leading platforms, such as Amazon (AMZN) and Booking (BKNG), observe higher user conversion and spending from ore integrated payment offerings, which he now expects to be the case for eBay's marketplace. A more integrated payments offering increases the conviction in eBay's ability to grow buyers, spend-per-buyer and gross merchandise value, he added. Furthermore, Nowak sees a path for payments to add 20% to EBIT by 2021. Additionally, the analyst told investors that he is also bullish on eBay's promoted listings ad business, as his analysis of Amazon/Etsy (ETSY) ad businesses speaks to how quickly e-commerce platforms can scale ad monetization. Amazon and Etsy's ad businesses have grown by 80% and 50% CAGRs, respectively, over the last four years, he points out. Nowak believes eBay began to scale its promoted listings business in a meaningful way for the first time in 2017, and his base case assumes it grows at about 110% 2017-20 CAGR. PRICE ACTION: In morning trading, shares of eBay have gained about 2% to $41.51.

11:03 EDT Raytheon builds small satellites for Department of Homeland Security - Raytheon Company has built two small, Polar Scout satellites for the U.S. Department of Homeland Security in partnership with Millennium Engineering and Integration. The satellites have flexible radio frequency receivers to help search and rescue teams locate emergency beacons in remote areas, such as the Arctic. The smallsats are scheduled to be launched into lower Earth orbit later this year.

10:47 EDT Pengrowth Energy trading resumes

10:28 EDT GW Pharma seen nearing historic approval for cannabinoid epilepsy treatment - GW Pharmaceuticals' (GWPH) cannabis-based epilepsy treatment associated with Lennox-Gastaut syndrome and Davret syndrome, Epidiolex, received what analyst called a favorable review from Food and Drug Administration staff ahead of an advisory committee meeting scheduled later this week. Both Goldman Sachs and Leerink argued that the documents bode well for Epidiolex approval by its June 27 PDUFA date. FDA ADCOM DOCUMENTS: The FDA released its advisory committee meeting briefing documents regarding CBD-OS for the treatment of LGS and DS ahead of the advisory panel vote on Thursday. According to the documents: "In 3 consecutive Phase 3 studies, CBD-OS added to other AED therapy met the primary endpoint of reduction in seizure frequency in patients with LGS and DS. Doses of CBD-OS at 10mg/kg/day and 20mg/kg/day were superior to placebo at reducing drop seizure frequency, and efficacy was maximized during the 12-week maintenance period once the target dose was achieved in LGS patients. Similar results were also seen in DS patients treated with CBD-OS 20mg/kg/day. [...] The safety and tolerability profile of CBD-OS is predictable, and the potential risks are manageable through the proposed label and medication guide. [...] Elevated transaminases were observed more frequently in CBD-OS patients than placebo, and increased AST and increased ALT were the most common reasons for discontinuing CBD-OS treatment. Therefore, routine liver tests prior to CBD-OS use and periodically during treatment are recommended. In addition, GW will implement a post-marketing enhanced pharmacovigilance program to monitor the safety profile of CBD-OS, with a focus on liver abnormality reports. Overall, CBD-OS provides a positive benefit-risk for patients with drug-resistant LGS or DS and can satisfy an unmet need by providing an additional treatment option to reduce the number of seizures in LGS and the firs indicated treatment option for DS." CBD-OS, or cannabidiol oral solution, is the first-in-class antiepileptic drug for the adjunctive treatment of seizures associated with LGS and DS in patients 2 years of age and older. GW Research, which is a part of GW Pharmaceuticals and operates under Greenwich Biosciences in the U.S., holds the Investigational New Drug application for CBD-OS. DOCUMENTS SUPPORT APPROVAL: Commenting on the briefing documents, Goldman Sachs analyst Salveen Richter told investors that the "brevity of the relatively benign documents" along with the half day panel duration suggest a likely straightforward meeting. The analyst noted that there is only one question for discussion - "Is the benefit-risk profile of cannabidiol favorable for the treatment of seizures associated with Lennox-Gastuat syndrome and Dravet syndrome in patients 2 years of age and older?" - which could support a broad label in "seizures associated with LGS/DS" and in children/adults. Thus, Richter believes these documents should bode well for Epidiolex approval by the June 27 date assigned by the FDA. The analyst recommended owning GW Pharmaceuticals shares into the Epidiolex launch, assuming widespread off-label use per physician feedback and optionality from Epidiolex Phase 2/3 Part A data in infantile spasms in the second quarter of 2018. He reiterated a Buy rating and $177 price target on the stock. Meanwhile, his peer at Leerink told investors in a research note of his own that his review of the meeting materials suggests that the FDA is likely to approve Epidiolex, and the outcome of the advisory panel vote on April 19 should be positive. Additionally, analyst Geoffrey Porges argued that Epidiolex' review bodes well for Zogenix' (ZGNX) ZX0008. The latter's unprecedented efficacy in reducing seizures will allow it to gain significant market share within its first 12 months of approval, he contended. PRICE ACTION: Shares of GW gained about 11% yesterday following the release of the documents, though they have given back about 2% in morning trading today to trade near $131 per share near 10:30 am ET.

10:14 EDT Bluegreen Vacations acquires Eilan Hotel and Spa in San Antonio, Texas - Bluegreen Vacations Corporation announced the acquisition of The Eilan Hotel and Spa in San Antonio, Texas for approximately $34.3M.

10:01 EDT Nissan North America, SiriusXM extend agreement through 2023 model year - SiriusXM (SIRI) announced an agreement with Nissan North America (NSANY) that extends the ongoing relationship between the two companies for five more years and through the 2023 model year. Nissan and Infiniti customers will continue to get a three-month introductory SiriusXM All Access subscription with the purchase of equipped vehicles. Customers purchasing properly equipped Nissan and Infiniti vehicles will also receive a three-month subscription to the SiriusXM Traffic and SiriusXM Travel Link infotainment services.

09:39 EDT GlaxoSmithKline hires Genentech's Kevin Sin to lead pharma pipeline deals - GlaxoSmithKline (GSK) announced the appointment of Kevin Sin as SVP and Head of Worldwide Business Development for Pharmaceuticals Research & Development. In this position, Kevin will play a critical role in strengthening GSK's pharmaceutical pipeline and identifying enabling technologies to enhance delivery of innovative new medicines for patients. Kevin will join GSK in July from Genentech (RHHBY), where he is currently VP and Global Head of Oncology Business Development, responsible for partnering, acquisition and licensing activities for novel oncology therapeutics.

09:35 EDT CSX jumps as new CEO helps get rail operator back on track - Shares of CSX Corporation (CSX) jumped in early trading after the company's first quarter results came in ahead of consensus forecasts. The rail operator's results were boosted by a significant drop in its operating ratio, with expenses at 63.7% of revenue vs. 73.2% a year ago. RESULTS BEAT: After the market close on Tuesday, CSX said earnings per share for Q1 came in at 78c, above analysts' 66c expectation. Revenue for the quarter of $2.88B were in line with the $2.8B consensus. CSX's operating ratio for the quarter improved 950 basis points to 63.7% from 73.2% in the prior year, while expenses declined 13% year over year. In a statement, President and CEO James Foote said "CSX employees did a great job of running the railroad and executing the scheduled railroading model during challenging weather conditions." WHAT'S NOTABLE: Foote has only been at the helm of CSX for a few months following the death of former CEO Hunter Harrison, who pursued a turnaround at the rail operator. Harrison moved to make the railroad more efficient by idling excess equipment, running longer trains, making tighter schedules and closing down yards, which created massive bottlenecks, with long delays leading to production slowdowns at CSX customers. In response to the problems, the Surface Transportation Board required CSX to hold weekly discussions with it. On the company's quarterly conference call, Foote confirmed that CSX is no longer under the requirement to have weekly calls with the STB. "We have improved our service," he said, "and I expect that to continue." For the year, Foote expects revenue to be up "slightly," though he noted that there is "significant work ahead" in order to deliver on the company's 2020 target of a 60% operating ratio. Foote also said that the company is "drastically changing the way we operate the railroad by taking millions of unnecessary steps out of the business process that we use to run the railroad. This is producing record operating performance, improved customer service and, when combined, impressive returns to shareholders." ANALYST COMMENTARY: Analysts were generally positive on CSX's earnings report, with Deutsche Bank analyst Amit Mehrotra calling the earnings release and conference call an "almost perfect" start to 2018 in a research note titled "Hunter would be proud; Blockbuster 1Q; Maintain Buy." Loop Capital analyst Rick Paterson, who raised his price target to $65 from $57, said the Q1 report may break the stock price out of its $50-$60 trading range. Stephens analyst Justin Long said "it is clear" CSX has moved past last year's "hiccups" related to the implementation of the Precision Scheduled Railroad operating model and is now beginning to see improvements in its bottom-line results and service metrics. However, Seaport Global said that while CSX is "moving in the right direction...We don't think that's enough upside from current levels to chase the stock." However, analyst Mark Levin feels that the "pretty darn good" quarter should give investors increased confidence that a sub-60 operating ratio by 2020 is "very doable." PRICE ACTION: In early trading, CSX is up 5.6% to $59.75.

09:29 EDT Covanta Environmental Solutions selected for NY medication disposal program - Covanta Environmental Solutions has been awarded a contract for the New York Department of Environmental Conservation's Pilot Pharmaceutical Take Back Program. The five-year program, which commences this month, allows for the installation of kiosks at 250 retail pharmacies, hospitals and long-term care facilities across New York State where consumers will be able to return unused and expired medications for safe and secure disposal. Covanta Environmental Solutions is responsible for the collection and disposal from participating locations. Collected medications will be processed at Covanta's Energy-from-Waste facilities.

09:22 EDT Abbott says 'confident' about overall sustainable growth of company - Says "confident" about sales trajectory.

09:15 EDT Bombardier signs long-term contract with Metro Trains Melbourne - Bombardier Transportation announced that it has signed a contract with Metro Trains Melbourne, or MTM, to provide ten years of maintenance services for its rail control solution being delivered for Melbourne's new Metro Tunnel Project. The contract is valued at approximately $60M and includes an option for five additional years of maintenance services.

09:14 EDT Norwegian Cruise Line announces $1B share repurchase program - Norwegian Cruise Line announced that its board authorized a three-year, $1B share repurchase program. The company may repurchase its ordinary shares from time to time, in amounts, at prices and at such times as it deems appropriate, subject to market conditions and other considerations.

09:13 EDT Omnicom forms Brand Consulting Group - Omnicom formed its Brand Consulting Group, focused on strengthening new business development; creating customized teams for clients; better targeting of internal investments; and improving expertise and knowledge across management teams. Omnicom executive Chuck Brymer will lead the new group as chairman. Mark O'Brien, currently CFO of Interbrand, will assume the role of COO. The Brand Consulting Group will combine the global expertise of the following agencies: Hall & Partners, Interbrand, C Space, OurCreative, Siegel + Gale, Sterling Brands and Wolff Olins.

09:06 EDT Bluegreen Vacations acquires Elian Hotel and Spa in San Antonio - Bluegreen Vacations announced the acquisition of The Eilan Hotel and Spa in San Antonio, Texas for approximately $34.3M. Bluegreen also plans to add a 13,000 square foot sales office at the resort by year end, which Bluegreen believes will expand its footprint for new business prospects and owner growth. The acquisition further leverages Bluegreen's existing marketing platforms, which include the seven Bass Pro Shops located in Texas, as well as its recently extended relationship with Choice Hotels. The Eilan Hotel & Spa is a 165-guest room, boutique hotel featuring a 10-treatment-room spa, resort-style pools, a state-of-the-art fitness center, tennis courts and virtual golf.

09:04 EDT ENGlobal engages B.Riley FBR for review of strategic alternatives - ENGlobal Corporation (ENG) announced that its Board of Directors has initiated a review of strategic alternatives. These alternatives could include strategic mergers, reverse mergers, the issuance or buyback of public shares, or the purchase or sale of specific assets, in addition to other potential actions aimed at increasing shareholder value. For this purpose, the company has engaged B. Riley FBR, Inc., a subsidiary of B. Riley Financial (RILY) as its exclusive financial advisor to help identify, analyze, negotiate, and close any potential transaction or series of transactions. The company does not intend to disclose or comment on developments related to its review unless and until the Board has approved a specific transaction or otherwise determined that further disclosure is appropriate. There can be no assurance that the Board's strategic review will result in any transaction, or any assurance as to its outcome or timing.

09:03 EDT Cantel Medical receives FDA 510(k) clearance for ADVANTAGE PLUS Pass-Thru - Cantel Medical announced that it has received U.S. FDA 510 (k) clearance for its ADVANTAGE PLUS Pass-Thru automated endoscope reprocessor.

09:01 EDT Ambarella CFO George Laplante to retire later this year - Ambarella announced that George Laplante, the company's CFO, will retire later this year. Laplante, who joined the company in 2011, intends to remain in his current role until a successor is named and an orderly transition is completed. Ambarella has initiated a search for Laplante's successor, and once a new CFO is appointed, Laplante will work collaboratively on the transfer of responsibilities.

08:52 EDT Morgan Stanley CEO Gorman: Leverage ratio remains a constraint under CCAR

08:50 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Morgan Stanley (MS), up 1.5%... Textron (TXT), up 6.6%... CSX (CSX), up 5%... Intuitive Surgical (ISRG), up 5%... United Continental (UAL), up 3%. ALSO HIGHER: eBay (EBAY), up 5.6% after Morgan Stanley analyst Brian Nowak double upgraded the stock to Overweight from Underweight... VMware (VMW), up 4% after CNBC reported that Carl Icahn has taken a "medium-sized" stake in the company... Teligent (TLGT), up 12.5% after the company received approval from the FDA of its abbreviated new drug application, or ANDA, for Clobetasol Propionate Cream... Calithera Biosciences (CALA), up 9.5% after announcing FDA fast track designation for CB-839 in combination cabozantinib... Rigel Pharmaceuticals (RIGL), up 2% after announcing FDA approval of Tavalisse. DOWN AFTER EARNINGS: IBM (IBM), down 5.7%... Adtran (ADTN), down 8%... Abbott (ABT), down 1%... Lam Research (LRCX), down 4.6%. ALSO LOWER: Juniper (JNPR), down 4% after the stock was downgraded to Sell from Neutral at Goldman Sachs... Riot Blockchain (RIOT), down 5.5% after disclosing the receipt of SEC subpoenas.

08:49 EDT CB&I's McDermott transaction recommended by advisory firm ISS - CB&I (CBI) announced that independent proxy voting advisory firm Institutional Shareholder Services has recommended that CB&I shareholders vote 'for' the previously announced transaction with McDermott (MDR) at the upcoming Special General Meeting of Shareholders on May 2. ISS concluded that "the merger with MDR represents the best available alternative for CBI shareholders. Moreover, the valuation multiple implied by the offer appears reasonable and the equity form of consideration will allow CBI shareholders to benefit from synergies and the potential upside of the combined company." The company continues to make progress towards completing the transaction in Q2.

08:46 EDT Pareteum awarded 3-year $10M contract in Indian Subcontinent - Pareteum announced that it has signed a 3-year contract to provide its Managed Service Platform to an IoT and MVNO provider in the Indian Subcontinent. Pareteum's Managed Services Platform will provide a fully integrated, single source solution that will enable its newest customer to deliver multi-country branded services, digital applications, data services and traditional mobile services to its end users. Under the terms of the contract, Pareteum will help them expand into 5 countries providing platform services combined with Connectivity. Pareteum will receive a monthly fee for each subscriber on the platform and will also receive revenue for the connectivity associated with these subscribers. Under the terms of the agreement, Pareteum will be paid on a monthly recurring revenue basis for platform support services based on the number of connections. Additional fees will be paid to Pareteum for other solutions, as activated, including Blockchain enablement.

08:38 EDT Morgan Stanley CEO says prepared for range of CCAR outcomes

08:37 EDT Morgan Stanley CEO says to benefit from 'more sensible, less complex' regulation - CEO James Gorman said 2018 began on "very strong footing," with "consistently strong" results across all businesses. Says expects Morgan Stanley, bank industry to benefit from "more sensible, less complex" regulation. Says bank is sufficiently capitalized. Comments taken from the Q1 earnings conference call. Morgan Stanley is up 2.2% in pre-market trading.

08:35 EDT R.R. Donnelley to report results under two new segments - R.R. Donnelley announced new financial reporting segments to align with recent changes to its global operating structure. Effective with Q1, RRD will report its results under two new segments: Marketing Solutions, a preeminent provider of multichannel marketing activation programs, and Business Services, a global provider of business communications services. This segment structure organizes RRD's global product and service offerings by their common strategic purposes to best meet rapidly evolving client needs and will allow various stakeholders to more easily assess the company's progress against its long-term growth strategy.Together, the combination of marketing solutions and business services will help RRD's clients create customer experiences across all touch points. Previously, the company reported its segments as variable print, strategic services and international, which grouped together product and service offerings that shared related internal operational features. Certain unallocated costs reported in the company's corporate segment will not be impacted by the new structure.

08:33 EDT ADP appoints Thomas J. Lynch and Scott F. Powers to board - ADP has appointed Thomas J. Lynch and Scott F. Powers to the Board of Directors. These appointments expand the ADP Board of Directors to 12 members currently. Thomas J. Lynch has served as Chairman of TE Connectivity, a global technology and manufacturing company, since 2013 and previously served as CEO from January 2006 to March 2017. Scott F. Powers was the President and CEO of State Street Global Advisors from 2008 until his retirement in 2015.

08:31 EDT ANI Pharmaceuticals announces FDA approval of Morphine Sulfate Oral Solution - ANI Pharmaceuticals announced that it has received approval from the U.S. FDA of its Abbreviated New Drug Application for Morphine Sulfate Oral Solution 10mg/5mL, 20mg/5mL and 100mg/5mL. The current annual U.S. market for this product is approximately $17M, according to Iqvia/IMS Health. ANI expects to begin shipping product to its customers in the near future.

08:31 EDT Fibrocell Science trading resumes

08:13 EDT Ampco-Pittsburgh subsidiaries raise prices on forged and cast roll, some 8%-10% - Ampco-Pittsburgh announced that its subsidiary, Union Electric Steel Corporation, will raise prices on forged and cast roll products that it and its subsidiaries produce globally. These subsidiaries include the acquired companies formerly comprising the Akers Group. This increase is effective immediately on all new orders received as of April 18, or as relevant contract terms permit. The price adjustments are driven by upward pricing pressures on the cost of raw materials and other steelmaking consumables, increasing production costs due to growing product demand and other global inflationary factors. As a direct consequence, Union Electric Steel is increasing its pricing levels by approximately 8%-10% for all forged and cast roll product lines worldwide.

08:10 EDT Catabasis Pharmaceuticals to present MRI data for DMD treatment - Catabasis Pharmaceuticals announced that it will present new magnetic resonance imaging, or MRI, data from the open-label extension MoveDMD trial of edasalonexent for the treatment of Duchenne muscular dystrophy, or DMD, at the American Academy of Neurology annual meeting.

08:09 EDT CytRx presents data on LADR candidates at AACR Meeting - CytRx announced the presentation of all three of its accepted posters at the American Association for Cancer Research 2018 Annual Meeting April 14-18 in Chicago. The posters feature comprehensive and statistically significant efficacy data for the company's albumin binding ultra high potency LADR drug candidates, LADR-7, LADR-8, LADR-9 and LADR-10. All four candidates are eligible to advance into Investigational New Drug-enabling studies, with the goal of filing IND applications on one or more candidates in 2018. The data highlights the superior antitumor efficacy of albumin-binding auristatin E derivatives LADR-7 and LADR-8 in human solid tumor models of melanoma, ovarian, non-small cell lung cancer, and head and neck cancers. For LADR-7, of the 14 pre-clinical models in the melanoma group, 79% achieved a complete response and 14% achieved a partial response for total efficacy of 93%. In addition, both LADR-7 and LADR-8 consistently demonstrated statistically significant superiority over both the control group and the parent compound AE at its maximum tolerated dose in nine of the nine models tested. Both LADR-9 and LADR-10 showed 'excellent' antitumor activity, inducing long-term partial and complete reductions in relative tumor volume in all cancer models studied, including lung, breast, ovarian, renal cell, and head and neck cancers.

08:08 EDT Fibrocell Science announces review of strategic alternatives - Fibrocell Science announced that its board is conducting a comprehensive review of strategic alternatives focused on maximizing stockholder value. Fibrocell has engaged Canaccord Genuity LLC as its strategic financial advisor to assist with this review process. The board has established a Special Committee to explore and evaluate potential strategic alternatives which may include a sale of the company, a business combination, a merger or reverse merger with another company, a strategic investment into the company, a sale, license or other disposition of corporate assets of the company or continuing with the current business plan. Fibrocell has not set a timetable for completion of the review process. No decision has been made as to whether the company will engage in a transaction or transactions, and there can be no assurance that this process will result in any transaction, or the terms or timing of any potential transaction. Fibrocell does not intend to discuss or disclose further developments regarding the strategic review process unless and until its board has approved a specific action or otherwise determined that further disclosure is appropriate or required by law. In parallel with this review process, Fibrocell intends to continue advancing its Phase 1/2 clinical trial of FCX-007 by reporting additional interim data on the adult patients in the Phase 1 portion of its Phase 1/2 clinical trial and provide a trial update in the second quarter of 2018. The company also expects to complete enrollment of Phase 2 patients in the third quarter of 2018. In addition, Fibrocell expects to initiate enrollment in a Phase 1/2 clinical trial of FCX-013 in the third quarter of 2018. In its strategic review, the board is considering Fibrocell's clinical programs for rare skin diseases with unmet needs, and other assets which include: Two clinical trial programs based on the company's proprietary, ex vivo gene-modified fibroblast platform; Multiple FDA designations with potential regulatory advantages; An FDA-approved autologous fibroblast cell therapy; In-house manufacturing expertise and infrastructure for Fibrocell's multi-product, cell and gene therapy facility.

08:06 EDT CB&I awarded ethylene technology contract by Lianyungang Petrochemical Co. - CB&I announced it has been awarded an ethylene technology contract by Lianyungang Petrochemical Co., Ltd., a subsidiary of Zhejiang Satellite Petrochemical Co., Ltd. CB&I's scope of work includes a process design package, heater engineering and technology license for two ethylene plants with a capacity of 1,250 kta each at Lianyungang's petrochemical facility in Jiangsu Province, China. This design will utilize CB&I's market-leading, low-cost ethane cracker flowsheet which reduces investment costs by eliminating plant equipment. Once complete, these will be China's first ethylene plants to crack 100 percent ethane feed, signifying a new wave of ethylene projects fed by shale gas ethane sourced from the U.S. Currently, all large ethylene plants in China crack mixed feeds or liquid feeds.

08:05 EDT American Electric Tech. announces renewal of Chinese joint venture - American Electric Technologies announced that its subsidiary, M&I Electric, along with joint venture partner BOMCO has executed a ten year extension of their BOMAY joint venture in China. Located in the city of Xi'an in the Shaanxi Province of China, BOMAY Electric Industries is a leading supplier of electric power and control systems and solutions to the drilling and production segments of the oil and gas industry. BOMAY was originally established in 2006. Since that time, BOMAY has shipped electric control systems to over 500 drilling rigs for its customers, generating cumulative revenue of over $580M, and income of $44M. The majority of BOMAY's revenue has come from CNPC, Sinopec and China National Offshore Oil Corporation in both the Chinese and overseas markets. M&I Electric is a 40% owner of this venture. While past performance is not indicative of future results, during the 12 years, the JV has been profitable and paid cash dividends every year.

08:04 EDT Fibrocell Science announces review of strategic alternatives

08:02 EDT Fenix Parts acquired by auto industry veterans in partnership with Stellex - Fenix Parts was acquired by a group of auto industry veterans in partnership with Stellex Capital Management, a middle market private equity firm with offices in New York and London. The financial terms of the investment were not disclosed. Bill Stevens, an executive with more than 25 years of experience in the auto recycling industry, will serve as CEO of the new enterprise. Former GreenLeaf colleagues Dixon Thayer, Ron Sturgeon, and Brian Nerney have taken an equity stake in Fenix and have agreed to serve on its board.

07:48 EDT Abbott reports Q1 Worldwide Medical Devices sales increased 14.6% - Worldwide Medical Devices sales increased 14.6% on a reported basis in the first quarter. On an organic basis, sales increased 9.4%.

07:47 EDT Abbott CEO says 'We're off to a strong start to the year' - "We're off to a strong start to the year as we forecasted," said Miles D. White, chairman and CEO, Abbott. "We're particularly pleased with the continued strong growth in Medical Devices and improving performance in our Nutrition business."

07:36 EDT Solid Biosciences receives full clincal hold letter from FDA on IGNITE DMD - Solid Biosciences announced that the company has received a letter from the U.S. Food and Drug Administration relating to the previously-announced full clinical hold on IGNITE DMD, the company's Phase I/II clinical trial for its investigational gene therapy, SGT-001, for the treatment of Duchenne muscular dystrophy. The company plans to submit a response to this letter to the FDA in the coming weeks. The FDA also informed Solid that the company has satisfactorily addressed manufacturing-related questions that led to the previously-announced partial clinical hold on the high dose of SGT-001 in IGNITE DMD. "We believe SGT-001 has the potential to significantly benefit patients with DMD. We are working with the FDA to better understand the unexpected event that resulted in the clinical hold and put a plan in place to monitor and manage potential events in the future. I am happy to share that the treating physician has reported the patient is doing well," said CEO Ilan Ganot. "We are also pleased that we were able to lift the earlier partial clinical hold on the high dose of SGT-001 through our existing manufacturing process, which is an important ongoing development effort for our company." The full clinical hold was in response to the company's report of a Serious Adverse Event in the first patient dosed with SGT-001 in IGNITE DMD, where several days after administration the patient was hospitalized due to laboratory findings that included a decrease in platelet count followed by a reduction in red blood cell count and evidence of complement activation. The patient showed no signs or symptoms of coagulopathy and no relevant changes from baseline in liver function tests. Following medical treatment, all of his laboratory parameters have either improved or returned to normal. In its full clinical hold letter, the FDA requested additional information that is required prior to resuming the clinical trial, including an assessment of the underlying etiology of the event, the patient's clinical status and laboratory parameters, and any additional measures to address patient safety. Solid will work closely with the FDA to address these questions.

07:33 EDT Conatus says IDN-7314 reduces hepatic tissue factor-driven coagulation - Conatus Pharmaceuticals announced the publication of results from both in vitro and in vivo studies of its pan-caspase inhibitor, IDN-7314, demonstrating reductions of hepatic tissue factor-driven coagulation. Patients with liver cirrhosis can suffer caspase-driven complications of both excessive bleeding and excessive clotting. The current studies suggest that a pan-caspase inhibitor may have the potential to reduce excessive clotting in patients with severe liver disease. The studies were conducted under the sponsorship of Conatus in collaboration with the Department of Pathobiology & Diagnostic Investigation and the Institute for Integrative Toxicology at Michigan State University. Both the U.S. Food and Drug Administration and the European Medicines Agency have granted Orphan Drug Designation to IDN-7314 for the treatment of primary sclerosing cholangitis, a disease affecting bile ducts in the liver which can lead to cirrhosis and liver failure. IDN-7314 is an orally active pan-caspase protease inhibitor designed to reduce the activity of enzymes that mediate inflammation and cell death, which has demonstrated reduction of relevant biomarkers in two preclinical models of PSC. Conatus is evaluating the potential of IDN-7314 as a treatment for PSC.

07:31 EDT Engility awarded $76M in intelligence system contracts in Q1 - Engility won three significant sole-source awards with the U.S. intelligence community in Q1, totaling $76M. The company will perform classified intelligence analysis, cybersecurity and systems engineering efforts. In addition to intelligence analysis, systems engineering and integration, and cybersecurity, Engility will assist in core activities like modeling and simulation, mission operations, data analytics and software design.

07:10 EDT Formula Systems Ltd receives NASDAQ notice on delay in annual meeting - Formula Systems has received a NASDAQ Staff Deficiency Letter indicating that the company has failed to comply with the requirement relating to the timing for holding its annual shareholder meeting during the company's FY17. As a means of regaining compliance with this requirement, the company has informed NASDAQ that it has already provided notice to its shareholders of its upcoming annual meeting of shareholders, which will take place on Monday, May 21. Accordingly, once the company holds the foregoing annual meeting, it will regain compliance with the listing rule, thereby obviating the need for further action on NASDAQ's part.

07:09 EDT GeoPark announces 'successful' testing of Tigana oil field in Colombia - GeoPark announced the "successful" testing of the Tigana Norte 9 appraisal well in the Tigana oil field in the Llanos 34 block in Colombia. GeoPark drilled and completed the Tigana Norte 9 well to a total depth of 11,581 feet. A production test conducted with an electric submersible pump in the Guadalupe formation resulted in a production rate of approximately 1,150 bopd of 13.9 degrees API, with approximately 1% water cut, through a choke of 80/64 inches and wellhead pressure of 120 pounds per square inch. Additional production history is required to determine stabilized flow rates of the well. Surface facilities are in place and the well is already in production. The Tigana Norte 9 well was drilled outside the 3P reserve outline defined in the 2017 DeGolyer and MacNaughton reserve certification and did not encounter an oil-water contact. The well extends and broadens the Tigana oil field towards the northeastern limits of the Llanos 34 block.

07:05 EDT AcelRx announces published results on sublingual sufentanil pain relief tablets - AcelRx Pharmaceuticals announced the publication of an analysis of the pharmacokinetic characteristics of sublingually administered tablets containing 15 or 30 mcg of sufentanil in a special edition of the peer-reviewed journal, Anesthesiology. The study concluded that sublingual sufentanil tablets provide the opportunity to non-invasively and rapidly treat moderate-to-severe pain in a monitored setting. Following dosing of the 30 mcg sufentanil sublingual tablet, therapeutic sufentanil plasma concentrations were reached within 30 minutes and remained above this level for approximately 3 hours, consistent with the onset and duration of analgesia observed in the clinical trials. AcelRx's proprietary, non-invasive sublingual formulation technology delivers sufentanil with consistent pharmacokinetic profiles. The company has two product candidates including Dsuvia sufentanil sublingual tablet, 30 mcg, with a proposed indication for the treatment of moderate-to-severe acute pain in medically supervised settings, and Zalviso sufentanil sublingual tablet system, being developed as an innovatively designed patient-controlled analgesia system for reduction of moderate-to-severe acute pain in medically supervised settings.

07:03 EDT Morgan Stanley reports Q1 expense efficiency ratio 69%

07:02 EDT Applied Genetic doses first patient in clinical study of AAV-based gene therapy - Applied Genetic Technologies announced that it has dosed the first patient in the company's Phase 1/2 clinical trial evaluating the safety and efficacy of an investigational AAV-based gene therapy for the treatment of X-linked retinitis pigmentosa, or XLRP. The multicenter study will assess AGTC's novel recombinant AAV vector expressing a human RPGR gene in patients with XLRP. The patient is being followed by Dr. David Birch of Retina Foundation of the Southwest and the surgery was performed by Dr. Andreas Lauer of Oregon Health & Science University.

07:01 EDT RA Pharmaceuticals names John King as Chief Commercial Officer - Ra Pharmaceuticals (RARX) announced the appointment of John C. King as Chief Commercial Officer, effective April 16, 2018. King brings to Ra Pharma more than 20 years of senior, global, commercial leadership experience within the biotechnology rare disease space, most recently with Alexion Pharmaceuticals (ALXN), where he served most recently as VP, U.S. Neurology Business Unit.

06:58 EDT Morgan Stanley reports book value $39.19 as of March 31 - As of March 31, the firm's Common Equity Tier 1 and Tier 1 risk-based capital ratios under the fully phased-in Standardized Approach were approximately 15.6% and 17.8%, respectively; the fully phased-in Supplementary Leverage Ratio was approximately 6.3%. At March 31, book value and tangible book value per common share were $39.19 and $34.04,respectively, based on approximately 1.8B shares outstanding.

06:56 EDT Morgan Stanley reports Q1 annualized return on average common equity 14.9% - Reports Q1 return on average tangible common equity 17.2%.

06:48 EDT Tyler Technologies to acquire Socrata - Tyler Technologies has signed a definitive agreement to acquire Socrata, a Seattle-based venture-backed technology company, focused exclusively on accelerating the shift to digital government. The expected closing date is April 30. Socrata is a provider of open data and data-as-a-service solutions for government, providing cloud-based data integration, visualization, analysis, and reporting solutions for state, local and federal governments and agencies, as well as internationally. Founded in 2007 by CEO Kevin Merritt, the company employs approximately 150 people. Socrata clients include the Michigan State Budget Office, the Utah Department of Transportation, and general administration offices for several states, including Texas, New York, Illinois, and Pennsylvania. Socrata had revenues of approximately $25M in its most recent fiscal year. The transaction will not be accretive to Tyler's earnings in 2018. Socrata's senior leadership team is expected to join Tyler's team, along with substantially all the company's employees. Tyler will continue to maintain Socrata's Seattle office, as well as Tyler's Renton, Washington, office.

06:47 EDT U.S. Bancorp reports Q1 average total loans grew 2.3% year-over-year

06:46 EDT U.S. Bancorp reports Q1 return on average assets of 1.50% - Reports Q1 average common equity of 14.9%; Return on tangible common equity of 19.3%.

06:43 EDT Rio Tinto announces Q1 production, says major growth projects 'on track' - Pilbara iron ore shipments of 80.3 million tonnes in the first quarter were five per cent higher than the first quarter of 2017, benefitting from productivity improvements and fewer weather disruptions. Bauxite production of 12.7 million tonnes was 12 per cent higher than the corresponding quarter of 2017, due to continued operational improvements. Third party shipments increased by 19 per cent to 8.2 million tonnes due to firm demand and higher port availability. Aluminium production of 0.8 million tonnes was five per cent lower than the first quarter of 2017 due primarily to disruptions at the Becancour smelter in Canada. Mined copper production of 139.3 thousand tonnes was 65 per cent higher than the first quarter of 2017, as output recovered at Escondida following a labour union strike in the first half of last year. Titanium dioxide slag production was 12 per cent lower than the first quarter of 2017 due to operational and labour disruptions at Richards Bay Minerals. Guidance has accordingly been revised to 1.1 to 1.3 million tonnes -- previously 1.2 to 1.4 million tonnes. Hard coking coal production of 1.1 million tonnes was 30 per cent lower than the first quarter of 2017 due primarily to the longwall changeover and maintenance works at Kestrel. The major growth projects remain on track. The Silvergrass iron ore mine continues to ramp up, Amrun is on schedule for first bauxite shipment in the first half of 2019 and construction of the first drawbell at Oyu Tolgoi Underground is expected in mid-2020. Total divestments announced in 2018 total $5 billion. Rio Tinto's share of production in 2018 is expected to be between 49 and 51 million tonnes of bauxite and 8.0 to 8.2 million tonnes of alumina. Aluminium guidance of 3.5 to 3.7 million tonnes will be adjusted following completion of the sale of the Aluminium Dunkerque and ISAL smelters. Adjustments may also be made as a consequence of the U.S. sanctions.

06:39 EDT Fulton Financial now sees FY18 NIM up 5-10bps over FY17 - Fulton Financial said in slides being presented on its Q1 earnings conference call that it sees average annual loan and core deposit growth rates in the mid single digits for FY18. The company sees low single digit growth in non-interest income, and low single-digit growth in non-interest expense including amortization of tax free investments. For FY18, the outlook for NIM is an increase of 5 to 10 basis points over 2017, including the impact of tax reform on tax equivalent net interest income; Fulton previously forecast FY18 NIM up 2-7bps. Its FY18 effective tax rate is anticipated to range between 11% to 14% depending on level of tax credits realized.

06:37 EDT WidePoint increases task order from ICE for wireless services to $45.9M - WidePoint announced a task order modification to fully fund the recently awarded task order from the United States Immigration and Customs Enforcement, or ICE. This modification increases the total value of WidePoint's contract for cellular wireless managed services with ICE by $2.76M to $45.9M.

06:31 EDT YouTube CEO says seeking ways to improve communication with video creators - For the first time since the shooting at YouTube headquarters earlier this month, CEO Susan Wojcicki addressed its creator community and spoke about the future. "As you can imagine, the last two weeks have been incredibly difficult for the people who work at YouTube, myself included," she wrote. "As challenging as the experience has been for our YouTube family, the outpouring of support and kindness from creators has bolstered our spirits." She added, "In February, we made the tough decision to set a new eligibility criteria to monetize on YouTube. While we know some creators found this change frustrating, it strengthened advertiser confidence, making monetization and the broader community on YouTube stronger for creators building their business on the platform." Wojcicki also said YouTube would continue to look for ways to improve communication with creators and enable them to strengthen ties to viewers. She credited new moderation tools, which enable a creator see comments before they go live, for helping to reduce abuse and spam on the platform. Reference Link

06:20 EDT Total agrees to buy Direct Energie in EUR1.4B deal - Total has entered into an agreement with the controlling shareholders of Direct Energie for the proposed acquisition of 74.33% of its share capital, at a price of EURO42 per share, ex-dividend of EURO$0.35 per share, representing an aggregate acquisition price of approximately EURO$1.4 billion. Once this acquisition has been completed, Total will file with the French Financial Market Authority a mandatory tender offer on the securities of Direct Energie which are traded on Euronext Paris at the same price per share of EURO$42, which represents a 30% premium above Direct Energie's closing share price on April 17, 2018 and a 24% premium above the volume weighted average share price over the past three months and 13% above the volume weighted average share price over the past six months. The offer thereby values Direct Energie at approximately 12.5 times its 2018 projected EBITDA. In connection with this agreement and the tender offer memorandum entered into with Direct Energie, Direct Energie's Board of Directors met on April 17 and unanimously approved the transaction and has already announced its intention to recommend to shareholders, subject to the confirmation by the independent expert that the terms of the tender offer are fair, to tender their shares into the offer that will be filed. In this respect, Direct Energie's Board of Directors has decided to appoint an independent expert in order to confirm that the terms of the tender offer are fair in accordance with market regulations.

06:09 EDT Ford launches GoRide service to get patients to their medical appointments - Ford Motor Company is launching its new GoRide non-emergency medical transportation service to safely get patients to and from their medical appointments on time, serving more than 200 facilities across the Beaumont Health network. Ford said GoRide helps raise the bar for non-emergency medical transportation, offering bedside-to-bedside service with professionally trained drivers, on-demand wheelchair service, properly outfitted transportation vans, and on-time arrivals and departures. Ford GoRide non-emergency medical transportation offers true on-demand service capable of covering the 200-plus facilities in the Beaumont network, plus the ability to pre-book transport up to 30 days in advance. Ford GoRide is a part of Ford Smart Mobility LLC, Ford's business focused on designing, building, growing and investing in emerging mobility services globally.

05:40 EDT SEC subpoenas Riot Blockchain for 'certain information' - Riot Blockchain received a subpoena from the SEC on April 9 requesting "certain information," the company disclosed last night in a regulatory filing. Riot said it "intends to fully cooperate with the SEC request." The company has notified its insurance carrier but cautions that there can be no assurance that the costs of compliance with the subpoena or any related matters will be eligible for insurance coverage. Riot Blockchain added, "Nevertheless, response to the subpoena will entail cost and management's attention. The Company believes that many companies engaged in blockchain and cryptocurrency businesses have received subpoenas from the SEC which presents an additional industry risk. The existence of an investigation of the Company specifically and the industry generally could have a materially adverse effect on the Company, its business or operations, and the industry as a whole." Riot shares in premarket trading are down 25c to $7.05.