Stockwinners Market Radar for May 07, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:46 EDT Delek US raises quarterly dividend to 25c from 20c per share - Shareholders of record on May 21, 2018 will receive this cash dividend payable on June 4, 2018.

19:25 EDT Senators urge DOJ, FCC to review T-Mobile, Sprint deal - U.S. Senator Amy Klobuchar led a group of senators in a letter to the Antitrust Division of the U.S. Department of Justice and the Federal Communications Commission expressing serious concerns regarding T-Mobile's (TMUS) proposed acquisition of Sprint Corporation (S). This transaction would combine T-Mobile, the third-largest wireless carrier in the United States with over 72M customers, with Sprint, the fourth-largest wireless carrier with over 54M customers, reducing the number of wireless carriers from four national competitors to three. The letter asked that the DOJ and FCC carefully consider: the impact of reducing the number of national wireless carriers from four to three; how the proposed merger would affect lower-cost options for wireless service; whether specific regions, particularly rural areas, would be disproportionately affected by the proposed transaction; and the proposed transaction's likely effect on innovation of wireless networks and other technologies. Joining Klobuchar on the letter were Senators Richard Blumenthal, Mazie Hirono, Tina Smith, Tom Udall, Ed Markey, Elizabeth Warren, and Bernie Sanders. Reference Link

19:03 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Fabrinet (FN) up 10.2%... Imping (PI) up 9.7%... Veeco Instruments (VECO) up 9.4%... Carrizo Oil & Gas (CRZO) up 7.3%... IAMGOLD (IAG) up 6.3%... Sangamo Therapeutics (SGMO) up 5.2%... Manitowoc (MTW) up 4.6%... Nautilus (NLS) up 3.9%... Sterling Construction (STRL) up 3.9%... Kaman Corp (KAMN) up 2.9%... Lannett (LCI) up 2.6%... Atlas Financial (AFH) up 2.3%... AMC Entertainment (AMC) up 2.0%. ALSO HIGHER: Snap (SNAP) up 1.6% after naming new CFO. DOWN AFTER EARNINGS: CrossAmerica Partners (CAPL) down 19.4%... Nevro Corp (NVRO) down 16.1%... Hertz Global (HTZ) down 8.4%... Brookdale Senior Living (BKD) down 7.2%... Zillow (Z) down 5.2%... Rambus (RMBS) down 2.8%... Mosaic Company (MOS) down 1.5%. ALSO LOWER: AxoGen (AXGN) down 2.9% after equity offering... Weight Watchers (WTW) down 2.2% after equity offering.

18:41 EDT HollyFrontier's McWatters sells 15,821 common shares - In a regulatory filing, HollyFrontier SVP, General Counsel and Secretary Denise Clark McWatters disclosed the sale of 15,821 common shares of the company at a price of $66.19 per share.

18:35 EDT Sabra Health Care restructures contractual relationship with Signature HealthCAR - Sabra Heath Care announced that it has entered into definitive agreements to restructure the Company's master leases with its tenant, Signature HealthCARE, including the provision to Signature of working capital in the form of a term loan. As part of the restructuring, Signature management remains intact and Sabra believes they are committed to operate the restructured company going forward. Signature obtained favorable accounts receivable financing terms, affording Signature increased availability of capital, reduced restrictions, enhanced flexibility, and an attractive borrowing rate. Sabra has agreed to provide term loan financing of up to $12 million at a 7% interest rate for a period of 7 years to provide Signature with working capital in connection with its obligations under the Master Lease.

18:34 EDT Allegiant Travel reports April total system traffic up 12%, capacity up 9% - Reports total system load factor up 2.3 points, departures up 10%, passengers up 13.5%. Prior story on 18:27 was for scheduled service figures.

18:24 EDT Dine Brands names Thomas Song as CFO, effective May 29 - Dine Brands Global (DIN), the parent company of Applebee's Neighborhood Grill & Bar and IHOP restaurants, announced the appointment of Thomas Song as CFO, effective May 29. Song serves as the Senior Vice President of Corporate Development and Innovation of Choice Hotels International (CHH), one of the world's leading hotel companies, a position he has held since 2013.

17:51 EDT DXC Technology announces dates for spin-off, distribution and merger - DXC Technology announced that its board has set a record date of May 25 for the previously announced spin-off of its U.S. public sector business into a new, publicly traded company named Perspecta. Subject to satisfaction of applicable conditions, the distribution of shares of common stock of Perspecta is expected to occur on May 31, after the close of trading on the New York Stock Exchange. In the distribution, DXC stockholders will receive one share of Perspecta common stock for every two shares of DXC common stock held on May 25, the record date for the distribution. Following its separation from DXC, Perspecta is expected to complete its previously announced combination with Vencore and KeyPoint Government Solutions on May 31, immediately following the spin-off, subject to satisfaction of the conditions to the merger. Perspecta will be listed on the NYSE under the symbol (PRSP). Beginning on or about May 24 and continuing up to and through the distribution date, it is expected that there will be two markets in DXC common stock. Shares that trade in the "regular-way" market will be entitled to receive the shares of Perspecta common stock while shares that trade in the "ex-distribution" market will trade without the entitlements to shares of Perspecta common stock. Shares of DXC in the "ex-distribution" market will trade under the ticker symbol (DXC WI.) DXC anticipates that "when-issued" trading in Perspecta shares will also begin on or about May 24 and will continue up to and through the distribution date. Shares of Perspecta in the "when-issued" market will trade under the symbol (PRSP WI.) Subject to satisfaction of relevant conditions, "regular-way" trading in Perspecta's common stock is expected to begin on June 1 the first trading day following completion of the separation.

17:46 EDT Heritage Insurance up 2.7% afterhours following Q1 earnings beat

17:37 EDT Norfolk Southern submits comments in response to Federal Railroad Administration - In response to the Federal Railroad Administration's request for information on rail industry automation, Norfolk Southern submitted comments outlining its views on this "important and imminent issue." Norfolk Southern also submitted comments responding to a similar request for information by the Pipeline and Hazardous Materials Safety Administration. In an opening letter to FRA, Executive Vice President Law and Administration John Scheib observes that "the development of technology-assisted rail operations is moving rapidly," and when it comes to industry automation, "the technology is already here or very close and is inevitable." He further notes that "the application of many technologies for transportation operations is easier for rail than other modes." While applauding FRA for initiating a discussion around railroad automation, Norfolk Southern underscores that the greatest obstacle to strategic deployment of technology-assisted rail operations is the lack of regulatory clarity, as well as current regulations that impede their implementation. Scheib notes, however, that the RFI is "a valuable first step" towards FRA "partner[ing] with railroads to pursue this important, safety-enhancing technology."

17:33 EDT Mueller Water sees FY18 net sales up 7%-9% - The company commented, "Our outlook for 2018 remains positive, with favorable growth in our end markets. For FY18, we expect our consolidated net sales to increase between 7%-9% and conversion margin to range between 25%-30%. Moving forward, we remain focused on executing our key initiatives to grow and enhance our business as we accelerate new product development, drive manufacturing productivity improvements and execute our go-to-market strategies as a customer-focused organization. Our strong balance sheet and free cash flow enable us to reinvest and grow our business through capital investments and acquisitions, while returning cash to shareholders through dividends and share repurchases."

17:28 EDT Resolute Energy reports Q1 Permian Basin production up 70% vs last year - Q1 Permian Basin production increased 70% year-over-year to 23,498 Boe per day from 13,798 Boe per day in Q1 of FY17.

17:27 EDT Resolute Energy sees FY18 total CapEx $365M-$395M

17:25 EDT NCS Multistage sees FY18 revenue to grow by 35% - 45% - NCS's Chief Executive Officer, Robert Nipper, commented, "We are very pleased with our first quarter results. In Canada, we grew our revenue by 13% on a year-over-year basis during a period when the average rig count was lower by 9%. This reflects organic growth as well as the contribution from Spectrum. In the U.S., we grew our revenue by 46% on a year-over-year basis and by 9% as compared to the fourth quarter of 2017. While our results were hampered by logistical issues impacting the broader U.S. completions market during the quarter, we are excited by the growth in our product sales in the U.S., which increased by 59% as compared to the fourth quarter of 2017, with sequential increases in sliding sleeve, Airlock and composite plug sales volumes. In our international business, we installed sliding sleeves in an offshore well for the first time during the quarter, with the well to be completed during the second quarter. This is an exciting first for NCS, and highlights the broad range of applications for our technology. We are seeing continued positive results from cross-selling initiatives that leverage the full breadth of our capabilities, including completions systems, tracer diagnostics and reservoir solutions. While an exceptionally wet spring in Canada may lead to an extended Spring Break-up this year, impacting our Canadian revenue in the second quarter, we continue to expect that our annual revenues in 2018 will grow by 35% - 45%, primarily driven by growth in the U.S."

17:13 EDT Dana CFO Jonathan Collins sells 22,000 shares of company stock - Dana CFO Jonathan Collins disclosed in a filing that he had sold 22,000 shares of company stock at an average price of $23.51 per share on May 4. The total transaction value was $517,323.

17:05 EDT Northrop Grumman awarded $114.5M U.S. Army contract modification - Northrop Grumman Systems was awarded an $114,465,626 modification to contrac for services related to Global Support System Army Enterprise Resources Planning program. Work will be performed in Richmond, Virginia, with an estimated completion date of April 13, 2019.

17:03 EDT Albany International on track for FY18 adjusted EBITDA $180M-$195M - The company commented, "The MC outlook for the rest of 2018 looks promising. The business appears to be stable going into the Q2 and we currently anticipate relatively consistent gross margins throughout the rest of the year. Assuming no significant changes in global economic conditions, we are on track for full-year Adjusted EBITDA in the upper half of our expected range of $180M-$195M."

16:58 EDT Atrium Health amends countersuit to Mednax - Atrium Health has filed an Amended Answer and Counterclaims against Mednax the Florida-based corporation that bought the physician-owned Southeast Anesthesiology Consultants practice for $200M in 2010. Atrium Health has filed its amended counterclaims because Mednax has increased the intensity of its false and misleading fear-based ad campaign, and at the same time information has been revealed about Mednax's apparent corporate difficulties. Atrium Health has made clear that it will not enter into a new agreement with Mednax. Nonetheless, Mednax continues, through its fear-based campaign, to try to harm Atrium Health in hopes that by doing so, it can coerce Atrium Health back to the negotiating table. Simultaneously, Mednax's campaign also seeks to disrupt the smooth transition of Scope Anesthesia, the new anesthesia services group that will replace Mednax on July 1. Atrium Health continues to reiterate that going back to the negotiating table with Mednax is not an option, since this would not be in the best interest of Atrium Health patients and the communities it serves. These communities deserve to know the truth and understand the facts, and Atrium Health has confidence they'll see through the dishonest fear-based campaign that Mednax is running. Atrium Health has been very successful in attracting highly esteemed and experienced anesthesiologists who are already meeting with our world-class surgery teams in preparation for a smooth transition to our new anesthesia services partner on July 1.

16:55 EDT GAP Airports reports April traffic up 9.7% - During April, total terminal passengers increased 9.7% at the company's 13 airports, compared to the same period of the previous year. Domestic passenger traffic increased by 16.0%, while international passenger traffic increased by 2.3%. In April, GAP registered a 10.4% increase in the number of seats available compared to April 2017. Load factors for the month decreased by 0.4 percentage points, from 83.8% in April 2017 to 83.4% in April 2018.

16:50 EDT Chemours announces sodium cyanide price increase - The Chemours Company announced a global price increase on all sodium cyanide products from the company's Mining Solutions business. Effective May 15 or as contracts or law allow, a price increase of 15% will apply for all sodium cyanide package offerings, although some price adjustments may vary based on specific circumstances.

16:49 EDT Man Group reports 5.13% passive stake in Changyou.com

16:47 EDT Allstate in accelerated share repurchase pact with JPMorgan - On May 7, the Allstate entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, National Association to purchase $400M of its outstanding common stock. The majority of the shares to be repurchased under this agreement will be received by the Registrant at the agreement's inception. It is expected that JPMorgan Chase will purchase the shares that it delivers under the agreement in the market no later than August 6. The final purchase price per share and number of shares to be delivered by JPMorgan Chase will be determined at the conclusion of the agreement and settlement will consist of the Registrant receiving shares based on the average of the daily volume weighted average prices of the Registrant's common stock during the period of JPMorgan Chase's purchases. If the Registrant is required to pay a settlement amount, the Registrant may settle in shares of its common stock or, under certain circumstances, may elect to settle in cash. All of the shares acquired by the Registrant under the agreement will be placed into its treasury.

16:39 EDT SJW, Connecticut Water file applications with PURA, MPUC over merger - SJW Group (SJW) and Connecticut Water Service (CTWS) announced that applications for the approval of their merger of equals were filed on Friday, May 4, 2018, with the Connecticut Public Utilities Regulatory Authority and the Maine Public Utilities Commission. This brings the transaction one step closer toward a successful close, which is expected to take place during the fourth quarter of 2018. In their applications, both companies detail the specific benefits of the transaction and how it will serve the public interest. Among the commitments made in the applications, both companies indicate that there will be no changes to customer rates nor any job cuts or employee layoffs as a result of the merger of equals.

16:37 EDT Trimble CEO: Recent acquisitions expected to be accretive to margins, cash flow - "The strength of the first quarter reflects our improving competitive position and strong execution in every segment," said Steven W. Berglund, Trimble's president and CEO. "Our strategic evolution, which is expected to accelerate with the recently announced Viewpoint and e-Builder acquisitions, will lead to higher value added solutions and higher revenue growth. These acquisitions are expected to be accretive to operating margins and cash flow in 2019."

16:36 EDT SemGroup to diversify White Cliffs Pipeline capabilities, in pact with DCP - SemGroup(R) Corporation (SEMG) announced that it plans to convert a portion of the White Cliffs Pipeline system to natural gas liquids (NGL) service. SemGroup owns 51 percent of White Cliffs Pipeline and is the operator. The project is backstopped by 10-year agreements with DCP Midstream (DCP) and its affiliate DCP Southern Hills Pipeline, LLC. The pipeline conversion will diversify White Cliffs Pipeline delivery capabilities and enhance service to Colorado's prolific and growing DJ Basin. "We are excited to execute this opportunity with DCP and provide a much-needed market solution to the DJ Basin, while at the same time optimizing White Cliffs to include both crude and NGL capabilities," said David Minielly, Vice President of SemGroup's crude operations. "This project provides producers and natural gas processors with a cost-effective and reliable solution to move valuable NGLs from Colorado to Mont Belvieu via Southern Hills Pipeline for processing and sale into the Gulf Coast marketplace." As operator, SemGroup will convert one of the 12-inch-diameter pipelines from crude service to NGL Y-grade service connecting the DJ Basin to Cushing, Okla. The pipeline will have an initial capacity of 90,000 barrels per day and will be expandable up to 120,000 barrels per day. It will be taken out of service late first quarter 2019 for conversion and is expected to be in service during the fourth quarter 2019. As part of the project, SemGroup will construct a 12-mile extension of White Cliffs Pipeline south of Cushing to interconnect with Southern Hills Pipeline in order to move NGLs south to Mont Belvieu. The 10-year agreements provide DCP and Southern Hills with 50,000 barrels per day of NGL transportation capacity on the converted White Cliffs Pipeline.The project is estimated to cost between $60 million and $66 million, of which SemGroup will fund 51 percent. Based on the currently executed contract, the project is estimated to be constructed at less than 4x EBITDA multiple. SemGroup anticipates minimal spending on this project in 2018.

16:34 EDT Sunstone Hotel sees FY18 projects to result in less annual RevPAR growth - The Company expects the negative impact of its FY18 capital investment projects to result in approximately 100 basis points less annual RevPAR growth and approximately $6M-$8M less Adjusted EBITDAre, excluding noncontrolling interest. The Company's 2018 guidance does not anticipate any acceleration in business travel resulting from the recent federal tax cuts or other stimulus programs.

16:33 EDT Sunstone Hotel reports 25 Hotel Comparable Portfolio RevPAR decreased 0.7% - 25 Hotel Comparable Portfolio Adjusted EBITDAre Margin, excluding prior year property tax adjustments, net decreased 170 basis points to 26.0%. Excluding the Hyatt Regency San Francisco, the Marriott Boston Long Wharf and the Renaissance Los Angeles Airport, all of which were under rooms renovation during the first quarter of 2018, the 22 Hotel Comparable Portfolio Adjusted EBITDAre Margin, excluding prior year property tax adjustments, net would have decreased 40 basis points.

16:31 EDT MSA Safety raises quarterly dividend 9% to 38c per share - Payable June 10 to shareholders of record on May 21.

16:29 EDT Air Transport Services backs FY18 cont ops adjusted EBITDA view $310M - ATSG continues to expect that its Adjusted EBITDA from Continuing Operations for 2018 will be approximately $310 million, up 16 percent from 2017, after taking into account the ratification of the amended pilot collective bargaining agreement at ATI in late March. "We are off to a very strong start and optimistic about our growth in revenues and cash flows for the rest of 2018," Hete said. "We continue to project delivery of ten 767-300 freighters to customers this year, one more than last year. Customer demand for additional 767s remains strong. We have customer commitments for seven of the 10 newly converted 767s this year, all of which will be straight dry leases. An agreement for an eighth dry lease is being finalized, and we have strong interest from customers for the remaining two." ATSG continues to project 2018 capital expenditures of about $300 million, the majority of which is for purchases of 767 aircraft and related freighter modification costs for customer deployments in 2018/2019. The company's 2018 capital expenditures also includes investment in the design and certification of a new narrow body variant of the Next Gen Boeing 737-700.

16:26 EDT Brookdale Senior Living sees FY18 adjusted EBITDA $545M-$575M - Sees FY18 Adjusted Free Cash Flow $10M-$30M.

16:25 EDT Clarus Corporation trading halted, news pending

16:21 EDT Hertz down approximately 10% to $20.01 after Q1 earnings miss estimates

16:19 EDT Mirati Therapeutics reports cash and equivalentes $148.7M at March 31 - Cash, cash equivalents, and short-term investments were $148.7M at March 31, compared to $150.8M at December 31, 2017.

16:18 EDT Zillow down 5.2% after reporting Q1 results, giving Q2, FY18 guidance

16:15 EDT Snap CFO Vollero to depart company, replaced by Amazon executive - Snap stated in a regulatory filing: "On May 4, 2018, we and Andrew Vollero, our Chief Financial Officer, agreed that he will depart Snap. On May 7, 2018, we entered into a transition agreement with Mr. Vollero. Mr. Vollero will continue to serve as our Chief Financial Officer until May 15, 2018, and will transition to a non-employee advisor through August 15, 2018 to ensure an effective transition of his duties and responsibilities...Vollero has confirmed that this transition is not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, or practices (financial or otherwise)...The compensation committee of the board of directors appointed Tim Stone as Chief Financial Officer with an expected start date of May 16...Tim Stone has been employed at Amazon.com Inc. since March 1998. Mr. Stone currently serves as Vice President of Finance and served as Vice President of Physical Stores from August 2017 until February 2018."

16:14 EDT Fiesta says April comp sales rose 2.8% at Pollo Tropical, 0.9% at Taco Cabana

16:13 EDT Fiesta Restaurant sees 2018 capital expenditures $60M-$70M - Fiesta Restaurant said, "Anticipated capital expenditures in 2018 include opening seven to eight new Company-owned Pollo Tropical restaurants in Florida and seven to eight new Company-owned Taco Cabana restaurants in Texas. Up to five of the new Taco Cabana restaurants are expected to come from converting closed Pollo Tropical restaurants. Total capital expenditures in 2018 are expected to be $60.0 million to $70.0 million, including $22.0 million to $25.0 million for the development of new restaurants. "

16:11 EDT Altair signs agreement for exclusive distribution of GE flow simulator software - Altair (ALTR) and GE (GE) have signed a multi-year software agreement making Altair the exclusive distributor for GE's Flow Simulator software. This comprehensive engine system modeling software provides the functionality of numerous tools for fluid systems to enable multi-disciplinary analyses. Altair will leverage its expertise in commercial software deployment and support, broad industry domain knowledge, and global footprint to expand the technology's adoption.

16:10 EDT Inseego names Rick Harris as SVP Enterprise Sales for Americas - Inseego announced that Rick Harris has joined the company as Senior Vice President, Enterprise Sales for the Americas, reporting directly to Dan Mondor, CEO. Mr. Harris comes to Inseego with over 20 years of consistent success leading enterprise sales organizations through turnarounds and growth for public and private enterprise companies. Prior to joining Inseego, Mr. Harris held executive sales leadership roles at Fortune 500 companies including Verisign-Symantec, Arsenal-IBM and Nortel Networks-each focusing on executing turnaround strategies and growing enterprise customer base. Most recently, Mr. Harris was sales vice president for QuestSoftware, a privately-held global system management and security software provider.

16:08 EDT Zillow CFO Kathleen Philips to retire, Jennifer Rock named interim CFO - Zillow Group (Z; ZG) announced that CFO and Chief Legal Officer Kathleen Philips is retiring from her role as CFO effective May 31. Jennifer Rock, Zillow Group's vice president of financial reporting, technical accounting and FP&A, will serve as interim CFO while the company engages an executive recruiting firm to search for a new CFO. Philips, who joined the company as general counsel in 2010, will step down as CFO and continue to serve as chief legal officer through the end of 2018 and transition toward retirement in 2020. She will continue to advise Zillow Group on legal, corporate development, and finance matters after 2018.

16:07 EDT Fred's sells specialty pharmacy unit to CVS Health for $40M - Fred's announced that it has reached a definitive agreement to sell certain assets of EntrustRx, its specialty pharmacy unit, to a subsidiary of CVS Health Corporation (CVS). The aggregate consideration to be paid is $40.0M, plus an amount equal to the value of inventory of EntrustRx. The transaction is expected to close by the end of May, subject to certain customary closing conditions.

16:06 EDT Premier board approves repurchase of up to $250M of Class A stock - On May 4, 2018, Premier Inc.'s board of directors approved the repurchase of up to $250M of the company's Class A common stock during fiscal 2019 through open market purchases or privately negotiated transactions. In order to initiate the repurchase program, Premier expects to execute the necessary agreements and documentation with one or more financial institutions during the next open trading window under the company's insider trading policy, scheduled to occur shortly after the fiscal 2018 third-quarter earnings call on May 7, 2018. There can be no assurance as to when or whether the repurchase program will be ultimately initiated or regarding number of shares of Class A common stock, if any, purchased under the program. The company will provide additional details regarding the repurchase program, if adopted and initiated, in future filings with the SEC.

16:03 EDT Trex Company approves 2-for-1 stock split - "Reflecting our positive outlook, Trex Board of Directors has approved a 2-for-1 stock split of the Company's common shares. The stock split will be in the form of a stock dividend to be distributed on June 18, 2018 to shareholders of record on May 23, 2018. Additionally, in the 2018 first quarter Trex repurchased 50,000 common shares for a total expenditure of $5 million as part of our share buyback program approved by the Board of Directors in February 2018."

16:02 EDT Hawaiian Airlines reports April traffic up 7.1%, capacity up 7.3% - Load factor was down 0.1 points.

15:50 EDT MGC announces Stephen Wynn no longer a qualifier for Wynn Resorts decision - The Massachusetts Gaming Commission released its written decision regarding Stephen A. Wynn's status under Massachusetts law as an individual qualifier to Wynn Resorts, Ltd. and Wynn MA, LLC. "Based on careful consideration of the evidence and the requirements stipulated by law, the five-member commission concludes that Mr. Wynn will no longer be considered a qualifier to Wynn Resorts, Ltd or Wynn MA, LLC upon the written verification that he did not exercise voting rights at the 2018 Wynn Resorts shareholders' meeting," the commission stated. The commission decided that there is "... substantial evidence that the relationship between Mr. Wynn and Wynn Resorts has been terminated in a meaningful way such that Mr. Wynn no longer falls within the definition of qualifier at the conclusion of the upcoming annual shareholders meeting." Reference Link

15:17 EDT Tesla CEO Elon Musk buys 33,000 shares of common stock - Elon Musk disclosed in a regulatory filing his purchase of 33,000 shares of Tesla common stock in transaction made on May 7.

14:47 EDT Telecom Italia appoints Fulvio Conti as Chairman, Amos Genish as CEO - The Board of Directors of TIM met for the first time since the renewal of its membership decided on by the Shareholders' Meeting, appointing Fulvio Conti as Chairman and Amos Genish as Chief Executive Officer of the company. The new power structure was defined with a unanimous decision, with only those being appointed having abstained: the Chairman was assigned those powers laid down by law, the Bylaws and corporate governance documents; the Chief Executive Officer, in summary, was assigned all the powers necessary to accomplish acts pertinent to the company's activities, except those powers reserved by law, Bylaws to the Board of Directors, with particular reference to the limits outlined at point 4.3 of the corporate governance documents currently adopted by the Company, and to the organization on Security; the Head of Security, Stefano Grassi, was given the temporary assignment, as Director responsible for Security, of managing all the assets and activities of TIM deemed strategic for national security and defense or in relation to which security clearance or Italian citizenship are required.

14:21 EDT Tutor Perini announces 3 low bids for civil projects totaling $1B - Tutor Perini Corporation announced three recent low bids for new civil projects totaling approximately $1B. The company's wholly owned subsidiary, Lunda Construction, is the managing partner in a joint venture that was the low bidder for the Southwest Light Rail Transit project in Minneapolis with a bid of approximately $800M. This major regional transportation project consists of a 14.5-mile extension of the METRO Green Line and involves construction of new light rail infrastructure, including 44 bridges, two cut-and-cover tunnels and 15 new stations. Another wholly owned subsidiary, Frontier-Kemper Constructors, was the low bidder for an approximately $109M tunneling project in Los Angeles for the Los Angeles Department of Water and Power. Finally, Tutor Perini was the low bidder for the Rehabilitation of the Broadway Bridge over the Harlem River in New York City with a bid of approximately $93M. All of these projects are expected to be awarded within 60 days and should commence immediately thereafter.

13:58 EDT Icahn says $40/share or more cash bid for Xeror 'would require consideration' - Carl Icahn and Darwin Deason released an open letter to shareholders of Xerox, which states in part: "We are aware of the market speculation regarding a rival bid by Apollo and we are confident that other potential buyers are waiting in the wings to kick the tires - but we do not see any possibility of an alternative bid materializing unless and until the lame duck board and the lame duck CEO relinquish their death grip on Xerox. To put to rest the speculation regarding our intentions, we are comfortable stating that an all-cash bid at a minimum of $40 per share, would require our serious consideration. However, we also see the possibility of similar or better value in a standalone Xerox with John Visentin at the helm as CEO with the support of a new conflict-free board."

13:48 EDT Dentsply Sirona introduces competitor to Align's Invisalign, lowers guidance - Shares of Dentsply Sirona (XRAY) are sliding after the company announced better than expected quarterly results but lowered its guidance for 2018. The company also announced a full arch clear aligner solution to compete with Align Technology's (ALGN) Invisalign. During the American Association of Orthodontists Conference, 3M (MMM) and Henry Schein (HSIC) also presented similar products as competition in the market of clear aligners increases. DENTSPLY RESULTS: Over the weekend, Dentsply Sirona reported first quarter adjusted earnings per share of 45c and revenue of $956.1M, both above consensus of 42c and $940.8M, respectively. The company also said it sees FY18 adjusted EPS between $2.55-$2.65, below consensus of $2.70. "Despite a solid performance in many businesses and regions, overall results for the quarter were disappointing due headwinds in the U.S. Technologies & Equipment business. Our revised guidance reflects our expectations of continued headwinds in that important business and more importantly the steps we are taking to return the company to growth," the company said. Additionally, Dentsply Sirona announced that on April 25, its board authorized an increase of $500M of common stock to its share repurchase program. This authorization is in addition to the $500M previously authorized by the board on February 14, bringing the total share repurchase authorization up to $1B of common stock. On May 1st, 2018, Dentsply Sirona closed the acquisition of OraMetrix, which offers an advanced, CAD platform developed for dental professionals to deliver consistently predictable orthodontic outcomes. Dentsply Sirona says the acquisition will enable it to provide a comprehensive orthodontic offering that will include a full arch clear aligner solution. LOOMING COMPETITION FOR ALIGN: In a research note to investors, William Blair analyst John Kreger noted that there were a number of new product introductions this weekend at the American Association of Orthodontists Conference that will compete with Align Technology's Invisalign. These include products from 3M and Henry Schein, as well as Dentsply Sirona's SureSmile offering, the analyst pointed out. Kreger argued that investors were well aware of looming competition, specifically from 3M, and the capabilities of the products introduced at the show were largely in line with expectations. The analyst continues to expect that clear aligners will take share from wires and brackets. Meanwhile, Stifel analyst Jonathan Block told investors in a research note of his own that the biggest takeaway from the AAO meeting should be the commitment seen to digital treatment plans and moving teeth with clear aligners. While many may be focused on competition at the meeting, the analyst views it as benign relative to expectations. Voicing a similar opinion, Piper Jaffray analyst Matt O'Brien highlighted that the introductions were very much expected and noted he is still skeptical about their impact on Align in the coming quarters. Nonetheless, he sees this issue weighing on Align's stock for a while until evidence that it is or is not affecting financial results materializes. All three firms have buy-equivalent ratings on Align shares. PRICE ACTION: In afternoon trading, shares of Dentsply Sirona have dropped about 6% to $46.97, while Align's stock has gained about 3% to $266.14 per share.

13:27 EDT Sibanye Gold drops after confirming deaths in mining incident - In a press release out earlier, Sibanye Gold said that on Saturday 5 May, "Sibanye-Stillwater announced that all 13 of its employees who were trapped underground at its Masakhane mine, Driefontein operations had been recovered and brought to surface by mine rescue personnel. Six of the employees, were successfully rescued and transported to hospital, and remain in a stable condition.It is with much sadness and regret however, that the Board and management of Sibanye-Stillwater confirms that seven of the 13 employees who were retrieved, passed away from injuries sustained during the incident. The families of all of the employees have been contacted and assisted with transport to the mine, and have been receiving necessary support and counselling, which will be ongoing." Shares of Sibanye Gold are down 7% to $3.21 per share in afternoon trading.

13:13 EDT Microsoft announces AI for Accessibility - At its Build 2018 conference, Microsoft announced AI for Accessibility, a series of products and services geared to assisting people with disabilities.

12:20 EDT Chubb pays NY $1.3M for underwriting NRA-branded insurance program - New York Financial Services Superintendent Maria Vullo announced that Chubb and Chubb's subsidiary, Illinois Union Insurance Company, have agreed to pay a $1.3M fine as part of a consent order with the Department of Financial Services for underwriting the National Rifle Association-branded "Carry Guard" insurance program, through Lockton Affinity, in violation of New York Insurance Law. A DFS investigation found the NRA "Carry Guard" insurance program "unlawfully provided liability insurance to gun owners for acts of intentional wrongdoing, and improperly provided legal services insurance for costs and expenses, for any act of self-defense covered under the policy for gun owners and their resident family members who may be charged with a crime involving a legally possessed firearm." Lockton Affinity is licensed by the Department to act as an excess line insurance broker. The NRA, which does not have a license from DFS to conduct insurance business in New York, actively marketed and solicited for the "Carry Guard" program through a website, email, and direct mail, among other channels, the agency said. Reference Link

11:59 EDT DTE in pact with Roxbury Group to develop mixed use, public space project - DTE Energy announced it has entered into an agreement with The Roxbury Group, a Detroit-based real estate development company, to develop an 11-acre mixed use and public space project on the former Michigan Consolidated Gas Company industrial site bordering the Huron River in Ann Arbor, Mich. Located at Broadway Street at the Huron River, the project could bring up to $75M or more of attractive, community-benefitting investment to this currently vacant site.

11:45 EDT L3 Technologies elects CEO Christopher Kubasik as chairman - L3 Technologies announced that its Board of Directors has elected Christopher Kubasik, CEO and president of L3, as chairman of the board. Kubasik succeeds Michael Strianese as chairman.

11:26 EDT Marsh & McLennan names Erick Gustafson chief public affairs officer - Marsh & McLennan Companies announced that Erick Gustafson has been appointed as the company's first Chief Public Affairs Officer. Gustafson has led the company's Government Relations Department since 2008. In this expanded role, Gustafson will lead global corporate strategy for external communications and government relations. He will report to Peter Beshar, EVP and general counsel, and work in the company's New York headquarters and Washington, D.C. offices.

11:19 EDT Microsoft CEO says business model 'fundamentally alligned' with customers - Nadella believes consumers will begin to put more value on their data. In search, the company has only ads "driven on intent," Nadella noted. Microsoft CEO Satya Nadella is speaking about data and privacy while being interviewed on CNBC.

10:49 EDT The Medicines Co. announces inclisiran data from ORION-1 Phase II study - The Medicines Company announced that the results of a pre-specified analysis of secondary endpoints from the ORION-1 Phase II study were presented at the 86th European Atherosclerosis Society Congress and accepted for publication in Circulation, the journal of the American Heart Association. Investigators examined inclisiran's effects beyond LDL-C and showed that it also reduces atherogenic lipoproteins in a profound and sustained manner. Atherogenic lipoproteins - non-HDL-C, ApoB, VLDL-C and Lp - have each been associated with an increased risk of heart attacks and strokes, particularly in high-risk patients. The reductions, which were generally dose-dependent, were achieved most clearly with a 300 mg dose of inclisiran given on Day-1 and Day-90, and were sustained to the pre-specified time of assessment and beyond. This is the same starting dose of inclisiran being utilized in the Phase III trials. The Phase III trials, which are assessing a range of markers of disease risk, including LDL-C as the primary endpoint and other atherogenic proteins as secondary endpoints, are expected to report results in the second half of 2019. The new findings were presented in a late-breaking session at EAS 2018, being held in Lisbon, Portugal, by the Principal Investigator for the ORION-1 and ORION-11 trials, Professor Kausik Ray, Professor of Public Health, Imperial College London, United Kingdom, and honorary consultant cardiologist, Imperial College NHS Trust. Professor Ray is the first author of the abstract accepted for publication in Circulation. In the presentation, Professor Ray reported that the selected starting dose for inclisiran in the Phase III trials achieved guideline-recommended goals for ApoB and non-HDL-C for high- and very high-risk patients in 68% to 90% of patients, compared to 25 to 49% of patients given placebo. This effect was highly consistent across patients and stable and sustained for up to 210 days after initial treatment.

10:37 EDT Spotify slips as second big music label sells part of stake - Shares of Spotify (SPOT) are slipping after a second big music label said it has sold a big chunk of its equity stake in the streaming music company. After a stake sale last month from Sony Music (SNE), today Warner Music Group disclosed the company sold 75% of its Spotify shares for about $400M. WARNER MUSIC SELLS 75% OF SHARES: During the company's earnings call, Warner Music CEO Steve Cooper said the company sold 75% of its Spotify shares for about $400M, while noting that the sale does not reflect any pessimism about the latter's potential. "We're a music company, and not, by our nature, long-term holders of publicly traded equity. This sale has nothing to do with our view of Spotify's future. We're hugely optimistic about the growth of subscription streaming. We know it has only just begun to fulfill its potential for global scale. We fully expect Spotify to continue to play a major role in that growth," the chief executive said. Warner added that it will distribute part of the cash if gets from its Spotify share sales to musicians and songwriters. SONY SELLS PART OF ITS EQUITY STAKE: In a notice Sony shared with investors on April 4, the company said it sold 17.2% of its shares in Spotify, yielding a gain for the label of $260M or more. At the time of Spotify's direct public listing on April 3, Sony Music Entertainment owned 5.7% of Spotify's shares. According to a news report by Recode, Sony has since sold roughly half of its shares for a total of $750M. WHAT'S NOTABLE: Shares of Spotify were under pressure last week after the company reported first quarter results. JPMorgan analyst Doug Anmuth called the results "solid," but pointed out that the Street expected more upside in the music streaming company's first quarter as a public company. PRICE ACTION: In morning trading, shares of Spotify have slipped almost 3% to $149.77.

10:32 EDT Charter, CBS announce multi-year content carriage agreement - Charter Communications (CHTR) and CBS Corporation (CBS) have announced a new multi-year content carriage agreement that includes continued retransmission consent of CBS-owned television stations, including CBS-owned The CW affiliates, in multiple markets across the country as well as distribution of the entertainment and sports channels SHOWTIME, Smithsonian Channel and CBS Sports Network on Charter's cable television platform. CBS-owned stations in Charter markets, including New York, Los Angeles, Dallas, Boston and Minneapolis-St. Paul, and CBS-owned The CW affiliates in Tampa and Atlanta, will continue to be distributed to Spectrum subscribers. The agreement also includes TV Everywhere and video-on-demand availability of programming from CBS and SHOWTIME to Spectrum subscribers in Charter markets across the country. "We are very pleased to extend and expand our partnership with Charter, which clearly recognizes the value CBS' industry-leading content brings to their viewers throughout the country. This latest deal once again helps us achieve our Company's economic and strategic goals, while delivering must-have content to viewers live and on demand whenever and wherever they want," said Joseph Ianniello, Chief Operating Officer, CBS Corporation.

10:19 EDT Sysco continues to invest in supply chain transformation in Europe - Says macroeconomic environment trends continue to be generally favorable. Says M&A continues to be a main focus of strategy. Says continues to see strong growth from local customers. Says freight expenses have improved and were not as significant as a headwind during Q3. Says continuing to make investments in supply chain transformation across Europe. Says continues to focus on executing against long-term plans in international. Says company is continuing to generate meaningful free cash flow. Says invested a portion of tax savings in associates with investments in 401(k) plan. Says continues to assess options on balance of tax savings. Says capex is expected to be somewhat lower than previously forecasted in FY18 based on current spend. Comments taken from Q3 earnings conference call.

10:12 EDT Blink Charging surges after announcing Whole Foods deployments - Shares of micro-cap Blink Charging (BLNK) are surging after the company announced that it has deployed charging stations at three Whole Foods Markets and will be integrated into the development of more stores when they open. "Whole Foods Market has always been on the frontlines of innovation in sustainability, and so we are eager to be working with them on their new locations. Whole Foods knows that providing Blink Charging Stations at their stores not only delivers a needed amenity for their EV customers, it also provides the infrastructure for the future of transportation which has already reached a tipping point," said Blink Charging's CEO Mike Calise. Whole Foods is a unit of Amazon (AMZN) after having been acquired by the e-commerce giant last summer. In morning trading, Blink Charging, which has a market cap of under $50M, is up 91c, or 61%, to $2.40 per share.

09:42 EDT Starbucks CEO says will continue to have relationship with Keurig - Starbucks (SBUX) CEO Kevin Johnson is being interviewed on CNBC following the company's announcement earlier this morning of an agreement to form a global coffee alliance with Nestle (NSRGY).

09:29 EDT Tyson Foods CEO sees FY18 results closer to lower end of guidance range - Answering an analyst question about the impact of freight costs, Tyson CEO Thomas Hayes said on the company's Q2 call: "Nobody likes to take in the cost increases. To answer your question about how we get it back, it's through pricing... As I mentioned again in my prepared remarks, truck weights and lead times and smoothing out the supply chain, there are other continuous improvement projects we're pursuing. So we're simultaneously pulling the lever pricing as well as all the cost-reduction levers...Yes, we are maintaining our guidance. I do believe that we'll be sort of on that low end of the range, given what we've seen, the costs coming on freight. And that is all baked into the forecast, but it is causing us to say closer to the lower end of the range."

09:18 EDT AstraZeneca, Luye Pharma Group announce agreement for Seroquel rights - AstraZeneca announced it has entered into an agreement with Luye Pharma Group for the sale and license of the rights to Seroquel and Seroquel XR in the U.K., China and other international markets, including Brazil, Australia, Saudi Arabia, Mexico, South Korea, Thailand, Argentina, Malaysia and South Africa. Luye Pharma will pay $538M in consideration including $260M immediately following closure of the transaction. In addition, a milestone is payable on the successful transition of certain activities to Luye. AstraZeneca will continue to manufacture and supply Seroquel and Seroquel XR to Luye Pharma during a transition period. The upfront and future payments will be reported as Other Operating Income in the company's financial statements. The transaction is expected to close by the end of Q2 2018, subject to customary closing conditions and regulatory clearances. The agreement does not change the company's financial guidance for FY 2018, AstraZeneca noted.

09:14 EDT German Navy to field AeroVironment Puma unmanned aircraft system - AeroVironment and ESG Elektroniksystem- und Logistik-GmbH announced the German Navy has acquired the AeroVironment Puma maritime unmanned aircraft system. The Puma systems will include the Mantis i45 sensor and pocket Remote Video Terminal. AeroVironment partnered with ESG to satisfy the requirement of the Bundesamt fur Ausrustung, Informationstechnik und Nutzung der Bundeswehr for an urgent operational requirement. German Navy adoption of the Puma system marks another step in the growing need for and fielding of UAS for the international surface combatant and coastal craft market. With the Family of Systems concept, customers can add other AeroVironment UAS that will augment capabilities and utilize the same ground control station and software for added simplicity and efficiency. .

09:12 EDT Tyson Foods says increased freight cost hurt Q2 EPS by 14c per share - Tyson Foods CEO Thomas Hayes said on the company's Q2 earnings call that increased freight costs affected all four segments and had a net impact of about 14c per share for the quarter. He added, "while we were climbing the hill, the grade steepened," and now the company is estimating the full year impact to be roughly $250M. The gap on cost recovery for the fiscal year is estimated to be $155M, or about 31c in EPS, and guidance includes these variances and assumes no additional cost increases, said Hayes. "Going forward, product prices must reflect the true costs because we cannot subsidize the increased freight," the CEO noted.

09:09 EDT FactSet raises quarterly dividend by 14% to 64c per share from 56c per share - FactSet announced that its board approved a 14% increase in the regular quarterly cash dividend from 56c per share to 64c per share. The 8c per share increase marks the thirteenth consecutive year the company has increased dividends, highlighting its continued commitment to returning value to its shareholders. The cash dividend will be paid on June 19, to holders of record of FactSet's common stock at the close of business on May 31.

09:08 EDT BioDelivery Sciences appoints Herm Cukier as CEO - BioDelivery Sciences (BDSI) announced that Herm Cukier has been appointed CEO and a member of the board of BioDelivery Sciences effective May 8, 2018. Former President and CEO, Dr. Mark Sirgo, will continue his role as Vice Chairman of the Board of Directors and, along with current President Scott Plesha, will work closely with Cukier in the transition of responsibilities. He was most recently a Senior Vice President at Allergan (AGN).

09:07 EDT Travelers names Abbe Goldstein head of investor relations - Travelers announced that Abbe Goldstein has joined the company as senior VP, investor relations. Goldstein succeeds Gabriella Nawi, who recently joined the company's personal insurance finance team. Goldstein will report to Jay Benet, vice chairman and CFO, and will serve on the company's operating committee.

09:06 EDT Land & Buildings comments on results of QTS annual meeting - Land & Buildings Investment Management, commented on the voting results of the 2018 Annual Meeting of Stockholders of QTS Realty Trust which occurred on May 3, 2018: "We believe the results of QTS' Annual Meeting make clear that a significant portion of common shareholders agree that urgent and meaningful change is needed at the company. Approximately 30% of shareholders, including 36% of disinterested shareholders, voting at the Annual Meeting chose to 'Withhold' for the Chair of the Compensation Committee, William Grabe, and approximately 40%, including 48% of disinterested shareholders, voted 'Against' QTS' 'Say on Pay' proposal - sending a pointed message to the QTS board that the company's current compensation and governance practices are unacceptable. The fact that Chairman and CEO Chad Williams controls the vote of roughly 6.5M shares, or approximately 12% of total voting shares, underscores the degree to which the independent shareholders of QTS have signaled that the company must do better. We believe that shareholders deserve more from QTS' board and management. As proxy advisory firm Institutional Investor Services recently noted when discussing the issues at QTS, 'The company has underperformed industry peers, experienced operational setbacks, and demonstrated a pattern of ineffective communication and a disconnect from shareholders, which suggest that enhanced oversight of management is warranted.' The extent of the performance issues, strategic missteps and anti-shareholder policies at QTS did not become starkly apparent until after the deadline to nominate directors for the 2018 Annual Meeting had already passed. We believe that if improvements are not made at QTS that the Company could find itself facing more significant shareholder pressure in the future. We will continue to monitor the Company's actions to address shareholder concerns - or the lack thereof."

09:03 EDT Principal Financial announces $300M share repurchase authorization - Principal Financial announced that its board has approved a new authorization for the repurchase of up to $300M of the company's outstanding common stock. As of March 31, approximately $96M remained under the company's May 17, 2017 $250M authorization. The repurchases will be made in the open market or through privately-negotiated transactions, from time to time, depending on market conditions. The stock repurchase program may be modified, extended or terminated at any time by the board.

08:50 EDT Great Panther Silver COO Ali Soltani to step down, effective May 31 - Great Panther Silver announces that Ali Soltani will be stepping down from his role as COO effective May 31. Soltani will continue to provide services on a part-time basis until September 30 as Senior Technical Advisor to Great Panther's management team. The company remains on track to deliver an updated technical study on Coricancha before the end of the second quarter, and Soltani will continue to support the project over the following months in his capacity as Senior Technical Advisor.

08:46 EDT Fiserv, Rippleshot partner for Card Risk Office Fraud Warning solution - Fiserv announced it has partnered with Rippleshot to offer Card Risk Office Fraud Warning, an early breach detection solution that allows financial institutions to identify potential fraud events 30-60 days prior to network alerts. The alliance positions Fiserv as the first financial technology company in the card processing industry to bring this technology to market. With Card Risk Office Fraud Warning from Fiserv, financial institutions will have access to information to help detect card-related fraud more quickly, as well as gain visibility to data about localized events networks may not have previously investigated. Fiserv will use this data, derived from machine learning, to inform and strengthen risk mitigation strategies, and will make the solution available to more than 2,400 clients of Card Risk Office, nearly 400 of which use a non-Fiserv core processing platform.

08:41 EDT Immune Pharmaceuticals to no longer pursue spinoff of oncology-focused unit - Immune Pharmaceuticals announced that the company's board of directors will no longer pursue a spin-off of its oncology-focused subsidiary, Cytovia, that had been led by Immune's founder and former Chief Executive Officer Dr. Daniel Teper. In connection with this decision, Teper has resigned as CEO of Cytovia and from the board of both Cytovia and Immune, effective immediately. "As previously disclosed, securing separate capitalization from third-party sources to pay start-up costs, expenses of the spin-off, payment of costs related to Ceplene and other relevant items was a prerequisite set by Immune's Board to complete the spin-off process. Given Dr. Teper's inability to secure the necessary funding in a timely manner, Immune's Board and management have decided to pursue alternate strategic options, including a sale of Cytovia's assets. Accordingly, Immune's management has initiated discussions with parties potentially interested in acquiring certain of Cytovia's assets. There is no guarantee that these discussions will result in a sale of Cytovia or any of its assets, and Immune makes no representation as to the likelihood or timing of a sale or other transaction. Moving forward, the Company will provide updates regarding Cytovia in the event of material developments relating to the disposition of its assets and as otherwise appropriate. Immune will continue to focus its efforts and resources on the development of its core programs, bertilimumab and NanoCyclo," the company stated.

08:41 EDT Capstone Turbine secures 9-year FPP service contract from NY food retailer - Capstone Turbine announced that it has secured a nine-year Factory Protection Plan, or FPP, service contract at a new 650,000 square foot state-of-the-art warehouse and shipping center for a leading food retailer in the New York area. RSP Systems, Capstone's exclusive distributor for the Connecticut and the New York metropolitan area, secured the nine-year FPP aftermarket service agreement at the major food retailer's new warehouse and shipping center located in the Bronx. The C1000 Signature Series microturbine is installed using five Capstone integrated hot water heat recovery modules.

08:39 EDT Diana Shipping enters time charter contract for m/v Houston with SwissMarine - Diana Shipping announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services, Geneva, for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is $19,000 per day, minus a 5% commission paid to third parties, for a period of about nine months to about eleven months.The charter is expected to commence on May 9, 2018. The m/v Houston is currently chartered, as previously announced, at a gross charter rate of $10,000 per day, minus a 5% commission paid to third parties.The "Houston" is a 177,729 dwt Capesize dry bulk vessel built in 2009. This employment is anticipated to generate approximately $4.85M of gross revenue for the minimum scheduled period of the time charter.

08:37 EDT USANA receives certification from U.S. Pharmacopeial Convention - USANA, is proud to announce its recent certification in the United States Pharmacopeial Convention Quality Systems GMP Audited Program. This voluntary program covers dietary supplements and dietary ingredient manufacturing facilities and was created by USP to confirm a manufacturer has the appropriate quality systems needed to help ensure product quality. After the voluntary audit of its manufacturing facility and examining the information USANA provided to USP during the auditing process, USP found that USANA's quality system provides sufficient assurance that its facility meets the applicable GMP audit requirements. In order to maintain its verification status, USANA's manufacturing, packaging, labeling and holding operations must continue to take place under the same conditions under which it was audited.

08:36 EDT Hexcel authorizes $500M of additional share repurchases - Hexcel announced that the company's board has authorized the repurchase of an additional $500M of the company's stock. As of March 31, 2018, there was $212M remaining under the authorized share repurchase program.

08:33 EDT CalAmp announces $30M share repurchase program - CalAmp announced that its Board of Directors has authorized a share repurchase program, under which the company may repurchase up to $30M of its outstanding common stock over the next 12 months. The company has approximately 35.8M shares of common stock outstanding at the present time. The repurchase program may be suspended or discontinued at any time. The company expects to fund the repurchases with cash on hand.

08:25 EDT HTG Molecular announces license, supply agreement - HTG Molecular Diagnostics announced a non-exclusive license and supply agreement that will enable Firalis to commercialize a next-generation sequencing, or NGS,-based theranostic product and services to predict rheumatoid arthritis, or RA, patients response to anti-TNFalpha therapy, and other research products and services for mRNA profiling of inflammatory-autoimmune disorders. The Agreement is a next step in the parties' relationship following the successful adaptation of Firalis' BIOPRED research-use assay to HTG EdgeSeq technology. Under the Agreement, HTG will supply assay components to Firalis, who will manufacture, obtain applicable regulatory approvals for and sell the BIOPRED assay as kits and Firalis-based services in the applicable diagnostic and research fields worldwide. All such kits and services will be automated on HTG EdgeSeq systems purchased directly from HTG by end users.

08:20 EDT Foamix announces dosing of last patient in third Phase 3 acne stufy - Foamix Pharmaceuticals announced that the final patient has been enrolled and dosed in its third Phase 3 study, FX2017-22, evaluating the efficacy and safety of its topical minocycline foam 4%, or FMX101.

08:18 EDT Wave Life Sciences highlights progress on hepatic collaboration with Pfizer - Wave Life Sciences (WVE) announced that Pfizer (PFE) recently nominated the fourth and fifth final hepatic targets under the collaboration agreement between the two companies to develop genetically targeted therapies for the treatment of metabolic hepatic diseases, such as nonalcoholic steatohepatitis. Upon payment of nomination fees, Pfizer had the right to select a maximum of five targets to advance from discovery through candidate selection with Wave.

08:16 EDT Pershing Gold announces new results from 2018 drilling program - Pershing Gold announced results from its ongoing 2018 drilling program. Expansion and resource growth is the focus of Pershing Gold's 2018 drilling program at the Relief Canyon Mine. Three core rigs have completed 15,500 feet of drilling in the West Step Out Target Area and approximately 5,300 feet in the Main Zone Target Area. To date, the company has completed 70% of the 2018 planned program. At the Main Zone Target Area, Diamond drilling confirmed gold grades in the historic reverse circulation holes in the Main Zone at the Relief Canyon Mine. To date, average grades are very similar to those encountered by the historic reverse circulation drill results. The new core intercepts are substantially wider, up to 100 feet (30.5 meters) wider, than the adjacent historic reverse circulation drill holes while grades of gold, and cyanide soluble gold are consistent with the current resource model. Main Zone gold intercepts include 187.4 feet at 0.013 opt Au and 129.5 feet at 0.014 opt Au. The West Step Out drilling is focused on extending mineralization to the west and southwest beneath cover, and has seen infill component to develop additional NI 43-101 reserves along the western margin of the current economic pit. Results continue to demonstrate continuity of the stacked mineralized zones for at least 1,000 feet beyond the current proposed pit limit, and provide strong indication for potential future growth. West Step Out gold intercepts include 13.9 feet at 0.037 opt Au. .

08:15 EDT Charlie Munger wishes Berkshire Hathaway owned more Apple - Berkshire Hathaway (BRK.A, BRK.B) Vice Chairman Charlie Munger said he wishes Berkshire Hathaway owned more shares of Apple (AAPL). Munger said he feels they've been too reserved in their purchase of the stock. Munger is speaking on CNBC with Warren Buffett and Bill Gates.

08:12 EDT Premier expands partnership with Montefiore Health System - Premier has expanded its partnership with Montefiore Health System, one of New York's leading academic health systems, to advance data collection and test new quality efforts aimed at improving patient care. Montefiore is now participating in QUEST 2020, a Premier quality improvement collaborative comprised of more than 200 hospitals that designs and tests best practices in performance improvement. Additionally, Montefiore will be using the PremierConnect performance improvement platform for system-wide quality reporting and to conduct peer comparisons with health systems across the nation. PremierConnect enables providers to closely examine nationwide trends in care delivery outcomes. Montefiore has worked with Premier for more than a decade to manage costs through its group purchasing organization, as part of Premier's partnership with Acurity. The financial terms of the agreement were not disclosed. The partnership is not expected to materially impact Premier's fiscal 2018 financial results.

08:11 EDT NantHealth, NantOmics announced data from study on accuracy of diagnosis - NantHealth and NantOmics announced joint results that show significant improvements in the accuracy of diagnosis when combining tumor-normal DNA analysis with tumor RNA analysis - as well as the risk for a higher error rate in tumor-only sequencing. The research is included in a paper, "Comprehensive genomic transcriptomic tumor-normal gene panel analysis for enhanced precision in patients with lung cancer," published last month in the online journal Oncotarget. Dr. Patrick Soon-Shiong, CEO and founder of NantHealth and NantOmics, said the publication showed the significance of combining tumor and normal DNA sequencing in diagnosis - and highlighted the precision of NantOmics' GPS Cancer test. Oncotarget is a multidisciplinary traditional journal focused on making scientific results rapidly and widely available so that exceptional discoveries can be shared quickly. The published results of the NantOmics and NantHealth study show the precision derived from GPS Cancer's comprehensive approach that combines tumor and normal DNA sequencing with RNA sequencing. Highlights from the study include: 95% of genomic variants identified from tumor-only sequencing originated in the germline, therefore, these variants were single nucleotide polymorphisms and false positive tumor somatic variants. After filtering based on population allele frequency to remove SNPs, the false positive rate remained as high as 48%. 29% of lung cancer patients had a false positive variant call in at least one of 12 genes with directly targetable drugs. 18% of true somatic variants identified from tumor and normal DNA sequencing were not expressed in RNA, showing the importance of RNA sequencing to verify gene and variant expression. In a clinical setting, it is important to sequence the tumor and normal DNA as well as the tumor RNA as treatment decisions based on tumor-only sequencing may result in ineffective therapies while also increasing the risk of negative drug-related side effects. GPS Cancer provides a precise and comprehensive molecular profile, integrating tumor-normal sequencing of DNA with RNA sequencing. This approach overcomes the challenges faced by tumor-only DNA sequencing, equipping oncologists with insights that they can rely on to inform their personalized treatment strategies.

08:08 EDT Mallinckrodt, Express Scripts highlighted in 60 Minutes expose on drug prices - In a critical report aired on last night's edition of 60 Minutes regarding the city of Rockford's fight against high drug prices, the news magazine highlighted the role in that fight played by Mallinckrodt (MNK), the maker of Acthar, and Express Scripts (ESRX), which was negotiating prices for Rockford. In an interview with Lesley Stahl, Rockford mayor Larry Morrissey said he "started realizing that pharmaceutical costs were skyrocketing" and he blames "one particular drug, called Acthar." The town has hired an attorney to sue Mallinckrodt for what they say is price fixing, a charge the company denies. Rockford is also suing Express Scripts, claiming they "didn't use their buying power. They didn't use their clout," according to the report. Express Scripts told 60 Minutes that "due to pending litigation" they could not discuss the matter. Reference Link

08:06 EDT PriceSmart reports April net sales up 1.6%, SSS up 1.9% - PriceSmart announced that for the month of April 2018 net sales increased 1.6% to $240.3 million from $236.6 million in April a year earlier. For the eight months ended April 30, 2018, net sales increased 5.0% to $2,063.6 million from $1,964.8 million for the eight months ended April 30, 2017. There were 40 warehouse clubs in operation at the end of April 2018 and 39 warehouse clubs in operation at the end of April 2017. For the four-week period ended April 29, 2018 comparable sales for the 39 warehouse clubs open at least 13 1/2 full months increased 1.9%, compared to the four-week period last year. For the thirty-four week period ended April 29, 2018 comparable warehouse sales increased 2.7%, compared to the comparable thirty-four week period a year ago. For the 8-week period ending April 29, 2018 comparable warehouse club sales for the 39 warehouse clubs open at least 13 1/2 months increased 2.7%. This 8-week view normalizes the effect of Easter which occurred in March this year and April last year. PriceSmart also announced that on May 3, 2018, the Company successfully opened a new warehouse club in Santo Domingo, Dominican Republic, bringing to 41 the total number of warehouse clubs in operation by the Company. This warehouse club is the Company's fourth warehouse club in the Dominican Republic.

08:06 EDT RedHill announces last patient assessed in RHB-104 Phase III study - RedHill Biopharma announced that the last patient enrolled in the first Phase III study with RHB-104 for Crohn's disease has completed 26 weeks of treatment for primary endpoint evaluation. Top-line results are expected to be announced in approximately three months.

08:04 EDT Spherix negotiates amended terms for pending acquisition of DatChat - Spherix announced that the company has negotiated amended terms of the pending acquisition of DatChat. The Company's Board of Directors determined there were material changes in the Company's operations since the date the original merger agreement was executed. Since then, the Company has retained a computer programmer and a developer to help advance DatChat and that assistance is already being provided by Spherix. The Company has also purchased additional Etherium mining equipment to support DatChat's efforts. Moreover, the Company now has approximately $5.2M in cash to fund operations and further support DatChat's development. In addition to the above, the Company is pleased to announce that Greg Blattner has agreed to join the Spherix Board of Directions. Blattner is the Business Development Manager at Agio. Anthony Hayes, CEO of Spherix, stated, "Today's announcement represents a substantial reduction in the price paid for DatChat and 11,538,479 shares in reduced dilution to our shareholders. We have already developed a strong partnership with DatChat and we thank them for agreeing to this amendment. We look forward to working together to grow this great technology. In addition, we are very pleased that Mr. Greg Blattner has agreed to join our Board of Directors. Mr. Blattner's experience provides the knowledge and experience to build and commercialize a cyber security product."

07:46 EDT GOL Linhas reports April load factor up 0.9% y-o-y to 79.9% - GOL Linhas reports total volume of departures up 0.6% and the number of seats up 1.0% in April, resulting in an increase in total supply - ASKs - of 0.8%. GOL's total load factor was 79.9% in April 2018, 0.9% up over the same period of 2017, due to the growth in GOL's total demand (RPK) of 1.9% in the period. In the domestic market, volume of departures and number of seats increased by 1.1% and 1.4%, respectively over April 2017, resulting in an increase in GOL domestic supply - ASK - of 1.3%. GOL domestic demand - RPK - grew by 3.0% and GOL's domestic load factor was up 1.3 p.p in comparison to the same month of the previous year, achieving 80.5%. In April 2018, GOL's international market supply - ASK - and demand - RPK - decreased by 3.6% and 7.2%, respectively, decreasing international load factor by 2.9 p.p. in relation to April 2017.

07:39 EDT Tyson Foods sees $1.3B in FY18 capital expenditures - Tyson expects capital expenditures to approximate $1.3B for FY18. Capital expenditures will include spending for production growth, safety, animal well-being, infrastructure replacements and upgrades, and operational improvements that will result in production and labor efficiencies, yield improvements and sales channel flexibility.

07:36 EDT SandRidge Energy expands board, asks shareholders to support Icahn nominees - SandRidge Energy (SD) announced that its Board of Directors will increase the number of directors from five to seven, effective immediately prior to the 2018 Annual Meeting of Shareholders. SandRidge recommends shareholders support its current directors - Sylvia K. Barnes, Kenneth H. Beer, Michael L. Bennett, William M. Griffin and David J. Kornder - at the upcoming Annual Meeting. In addition, the SandRidge Board encourages shareholders to support two independent nominees put forth by Icahn Capital (IEP). SandRidge also noted that its Board interviewed and carefully evaluated all of the Icahn Capital nominees and offered to appoint John J. "Jack" Lipinski and Randolph C. Read as directors in connection with a settlement proposal that Icahn Capital refused. SandRidge also announced it will use a "universal proxy card" at the upcoming annual meeting. The use of a universal proxy card provides shareholders with flexibility and clarity regarding their votes in a contested election and enables shareholders to cast votes for any director nominee on a single card, regardless of who nominated them, without attending the shareholder meeting in person. In this way, each shareholder will be able to vote for those individuals they believe will serve in their best interests as directors. In Icahn Capital's nomination materials dated April 13, 2018, its nominees consented in writing to be named as nominees for directors in SandRidge's proxy statement.

07:31 EDT Invitae, Sarepta expand partnership - Invitae (NVTA) announced the expansion of its partnership with Sarepta Therapeutics (SRPT) to assist clinicians in identifying patients with Duchenne muscular dystrophy. The program is part of Invitae's network of partnerships that connect patients and clinicians to treatment and research.

07:30 EDT Kindred Biosciences trading resumes

07:19 EDT Myriad subsidiary study shows 'significant improvement' in MDD outcomes - Assurex Health, a wholly-owned subsidiary of Myriad Genetics, announced that results from a large, well-controlled pharmacogenomics study in patients with major depressive disorder, or MDD, were presented at the American Psychiatric Association annual meeting in New York City. The key finding is that patients were 50% more likely to achieve remission and 30% more likely to respond to treatment when their medication selection was guided by the GeneSight Psychotropic genetic test. "We now have the results from the largest-ever pharmacogenomics clinical study in patients with moderate-to-very severe depression," said Bryan Dechairo, Ph.D., executive VP of clinical development, Myriad Genetics. "The important news here is that when doctors used the GeneSight genetic test to guide their selection of antidepressants, patients experienced significantly higher rates of response and remission as well as better overall symptom relief."

07:15 EDT Novavax reaches significant enrollment milestone in Prepare Phase 3 trial - Novavax announced it has reached a significant milestone in the Prepare Phase 3 clinical trial of its respiratory syncytial virus F protein recombinant nanoparticle vaccine for infants via maternal immunization. Enrollment has reached approximately 4,600 participants, of whom, at least 3,000 have received the RSV F Vaccine. Prepare is a global, pivotal Phase 3 clinical trial of the RSV F Vaccine, in healthy, third trimester pregnant women, which initiated in December 2015. The primary objective of the Prepare trial is to determine the efficacy of maternal immunization with the RSV F Vaccine against medically significant RSV-positive lower respiratory tract infection in infants through a minimum of the first 90 days of life and up through the first six months of life.

07:12 EDT Evolus appoints David Moatazedi as CEO - Evolus (EOLS) announced that its board has named David Moatazedi as President and CEO. Moatazedi joins Evolus from Allergan (AGN) where he most recently served as Senior Vice President of U.S. Medical Aesthetics, leading the entire aesthetic portfolio of brands including Botox Cosmetic, JUVEDERM Collection, CoolSculpting, KYBELLA, SkinMedica, Latisse, Natrelle and Alloderm. David joins Evolus as of May 6, 2018 and will succeed Murthy Simhambhatla, who has decided to pursue other options.

07:10 EDT CoreSite Realty achieves Amazon Web Services Networking competency status - CoreSite Realty Corporation (COR) announced it has achieved Amazon Web Services (AMZN) Networking Competency status as well as Advanced Technology Partner status in the AWS Partner Network. With the achievement of this new designation, CoreSite is able to provide a more robust portfolio of network solutions to assist its customers in adopting, developing, and deploying applications on AWS.

07:09 EDT Veeva announces Merck's expanded use of Veeva CRM - Veeva Systems (VEEV) announced that Merck (MRK), known as MSD outside of the United States and Canada, is expanding its use of multichannel Veeva CRM to additional markets, including Latin America and Asia Pacific. Veeva and Merck are building upon their seven-year partnership to help Merck standardize on a single global CRM solution in order to drive new levels of operating efficiency and commercial effectiveness worldwide.

07:08 EDT Cubic unit awarded contract valued at over $6M - Cubic announced its Cubic Global Defense business division in partnership with Federal Resources, was awarded a contract worth more than $6M to supply the United States Air National Guard with 95 PRISim Suite PortableTrainer systems that include recoil and less-lethal training weapons and devices. The system also includes software capabilities that allow customization of scenarios. To be deployed at every ANG base, the systems will train security forces personnel in use-of-force policy and handling of deadly force and less-lethal weapons.

07:07 EDT Salix receives FDA approval for PLENVU - Salix Pharmaceuticals announced that the U.S. FDA has approved PLENVU, a lower-volume polyethylene glycol based bowel preparation. PLENVU was licensed by Salix from Norgine in August 2016 for introduction to the U.S. market and will be available in the U.S market in the third quarter of 2018. In Europe, PLENVU is approved and available through Norgine.

07:05 EDT Ceragon Networks raises quarterly run rate expectation to $80M-$85M - "We are beginning 2018 with a strong quarter in all respects," said Ira Palti, president and CEO of Ceragon. "We had strong bookings in Q1, with particular strength coming from India. Revenue increased 9.5% year over year, and we now have enough visibility to raise our quarterly run rate expectations to $80 to $85 million during the balance of this year. We won several important new projects in Q1 and our objective is to continue to gradually gain market share. Our financial goal is to make 2018 the fourth consecutive year of increasing net income, despite facing some challenges with factors we can't control such as currency headwinds and shortages of passive components."

07:03 EDT CSI Compressco sees FY18 CapEx $90M-$110M - "As a result of the service price increases that we are attaining, which will gain traction in the second quarter of 2018, and the new equipment sales backlog that we will start delivering in the second quarter of 2018, and when combined with the new equipment being deployed to our fleet, we expect to see a material improvement in Adjusted EBITDA from our first quarter, 2018 run rate."

06:58 EDT Kindred Biosciences trading halted, news pending

06:57 EDT Lannett acquires 23 approved, one pending drug applications from Endo - Lannett (LCI) announced that it has acquired 23 approved and one pending drug product applications from a subsidiary of Endo (ENDP) for an upfront payment plus future milestone payments. The portfolio primarily consists of oral solutions with a few semi-solid products. For the 12 months ended March 2018, combined sales of the acquired products were in excess of $175M, according to IMS. The acquired portfolio of products will be manufactured at Lannett's liquid generics facility.

06:48 EDT Zayo Group announces $500M share repurchase program - Zayo Group Holdings announced that the company's Board of Directors has authorized a six-month share repurchase program. The share repurchase program authorizes up to $500M for the repurchase from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with the federal securities laws.

06:47 EDT Gramercy Property Trust to be acquired by Blackstone for $27.50 per share - Gramercy Property Trust (GPT) announced that it has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone (BX) will acquire all outstanding common shares of Gramercy for $27.50 per share in an all-cash transaction valued at $7.6B. The transaction has been unanimously approved by Gramercy's Board of Trustees and represents a premium of 23% over the 30-day volume-weighted average share price ending May 4, 2018 and a premium of 15% over the closing stock price on May 4, 2018. Completion of the transaction, which is currently expected to occur in the second half of 2018, is contingent upon customary closing conditions, including the approval of Gramercy's shareholders, who will vote on the transaction at a special meeting on a date to be announced. The transaction is not contingent on receipt of financing by Blackstone. Gramercy shareholders will be entitled to receive the previously announced second quarter dividend of $0.375 per share payable on July 16, 2018, and if the transaction is completed after October 15, 2018 Gramercy shareholders will receive a per diem amount of approximately $0.004 per share for each day from October 15, 2018 until the closing date.

06:44 EDT On Wells Fargo, Buffett says 'institutions make mistakes' - Warren Buffett, while speaking on CNBC, says Wells Fargo was slow to stop bad behavior but that its fundamentals remain good. "Institutions make mistakes," Buffett proclaimed.

06:32 EDT Northern Oil and Gas raises 2018 production view to 18,650-19,240 Boe per day - Northern is raising its 2018 annual production guidance range to 18,650 - 19,240 Boe per day, which represents a 26% - 30% increase over 2017 production. As a result of increased activity, Northern now expects to add approximately 22 - 24 net wells to production for the year. In addition, as Northern continues to strengthen and grow its drilling and completing inventory, the company is revising its drilling and completion capital budget to $172 - $187 million, an increase of $20 million over prior guidance, to reflect the growth in our drilling and completing inventory and the additional net wells expected to be completed in 2018. With additional capital allocated to acquisitions, workovers, and other capitalized costs, the total revised capital budget is $185 - $200 million for 2018. These estimates do not include the recently announced Salt Creek acquisition.

06:24 EDT Tesla says may raise additional capital to fund 'rapid growth' - Tesla disclosed in its latest quarterly filing, "Our sources of liquidity and cash flows enable us to fund ongoing operations, research and development projects, investments in tooling and manufacturing equipment for the production ramp of Model 3, the continued construction of Gigafactory 1 and the continued expansion of our retail stores, service centers, mobile repair services and Supercharger network. Once we have achieved a 5,000 weekly production rate for Model 3, we intend to incorporate our cumulative experience to continue to increase output on our existing manufacturing lines beyond 5,000 vehicles per week, and then add incremental capacity in a capital-efficient manner to ultimately achieve a weekly production rate of 10,000 vehicles. At this stage, we are expecting total 2018 capital expenditures to be slightly below $3 billion. Ultimately, our capital expenditures will develop in line with Model 3 production, our profitability and our operating cash generation. We continually evaluate our capital expenditure needs and may raise additional capital to fund the rapid growth of our business."

06:16 EDT Buffett says Bitcoin is an asset that creates nothing - Warren Buffett is speaking on CNBC.

06:14 EDT ArcelorMittal receives European Commission approval for its acquisition of Ilva - ArcelorMittal announces that it has been granted merger clearance by the European Commission for AM Investco Italy Srl's proposed acquisition of Ilva S.p.A. EC merger clearance follows the conclusion of the Commission's Phase II investigation into the proposed acquisition of Ilva, and has been granted on the basis that the Company has committed to dispose of assets in Italy, Romania, Macedonia, Czech Republic, Luxembourg and Belgium, as previously announced on 13 April 2018. Approval by the EC is a significant milestone in the transaction to acquire Ilva and represents a major step towards closing the deal, which is now expected to occur as soon as possible.

06:09 EDT Fresh Del Monte acquires equity investment in Purple Carrot - Fresh Del Monte announced that it has acquired an equity investment in Purple Carrot, a plant-based meal kit provider in the United States. Launched in 2014, Purple Carrot delivers fresh, pre-portioned ingredients nationwide with simple step-by-step guidance for people to cook healthy, plant-based meals at home. Purple Carrot has built a vibrant community among health-conscious consumers seeking convenient, better for you, better for the environment, 100% plant-based food and beverage offerings.

06:01 EDT Baker Hughes reports April international rig count 978, up 6 rigs from March - Baker Hughes announced that the Baker Hughes international rig count for April 2018 was 978, up 6 from the 972 counted in March 2018, and up 22 from the 956 counted in April 2017. The international offshore rig count for April 2018 was 194 up 6 from the 185 counted in March 2018, and down 7 from the 201 counted in April 2017. The average U.S. rig count for April 2018 was 1,011, up 22 from the 989 counted in March 2018, and up 158 from the 853 counted in April 2017. The average Canadian rig count for April 2018 was 98, down 120 from the 218 counted in March 2018, and down 10 from the 108 counted in April 2017. The worldwide rig count for April 2018 was 2,087, down 92 from the 2,279 counted in March 2018, and up 170 from the 1,917 counted in April 2017.

05:39 EDT International Flavors to acquire Frutarom for about $7.1B in cash, stock deal - International Flavors & Fragrances and Frutarom announced that they have entered into a definitive agreement under which IFF will acquire Frutarom in a cash and stock transaction valued at approximately $7.1B, including the assumption of Frutarom's net debt. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Frutarom's shareholders will receive for each Frutarom share $71.19 in cash and 0.249 of a share of IFF common stock, which, based on the 10-day volume weighted average price, or VWAP, for IFF's common stock for the period ending May 4, 2018, represents a total value of $106.25 per share. By combining with Frutarom, IFF is accelerating its Vision 2020 strategy to create a global leader in taste, scent and nutrition. The combination unites two industry-leading, innovative companies with complementary customers, capabilities and geographic reach, resulting in more exposure to fast growing end markets and an enhanced platform to deliver sustainable, profitable growth. The combined company's customers will have access to comprehensive and differentiated integrated solutions with increased focus on naturals and health and wellness. Frutarom is a flavors, savory solutions and natural ingredients company, with production and development centers on six continents. It markets and sells over 70,000 products to more than 30,000 customers in over 150 countries. Frutarom is primarily focused on natural products, which drive more than 75% of its sales. Frutarom's product portfolio consists of innovative and integrated solutions combining taste and health, natural and clean label products. In addition, Frutarom mainly serves local and mid-size customers, and has a compelling presence in fast-growing adjacent and complementary categories such as natural colors, health and beauty ingredients, natural food protection and enzymes. Frutarom has a strong track record of growth, with expected sales of above $1.6B in 2018, and their previously announced target of $2.25B in sales by 2020. On a pro forma basis, the combined company would be expected to have approximately $5.3B of revenue in 2018. Following the completion of the transaction, IFF is expected to benefit from enhanced top line growth rates and a strong EBITDA margin. IFF and Frutarom expect to realize approximately $145M of run-rate cost synergies by the third full year after closing, with approximately 25% achieved in the first full year. Synergies are expected to come from procurement, footprint optimization and streamlining overhead expenses. In addition, cross-selling opportunities and integrated solutions are expected to provide revenue synergies, creating further value to shareholders over time. The transaction is expected to be neutral to adjusted cash earnings per share in the first full year and double-digit accretive to adjusted cash earnings per share in the second full year. The combined company is also expected to generate enhanced cash flow to meet operating, financing and strategic needs. IFF expects to maintain its quarterly dividend consistent with prior guidance. Following the close of the transaction, Ori Yehudai, President and CEO of Frutarom, will serve as a strategic advisor supporting Andreas Fibig, Chairman and CEO of IFF. IFF will remain headquartered in New York City and will maintain a presence in Israel. IFF's stock at closing will be listed on the New York Stock Exchange and the Tel Aviv Stock Exchange. The purchase price represents a 13% premium to Frutarom's 30-day VWAP for the period ended May 6, 2018, and an 11% premium based on the closing price on May 6, 2018, at current exchange rates. The transaction is valued at approximately $7.1 billion, including the assumption of Frutarom's net debt, and reflects a multiple of Frutarom's expected 2018 EBITDA of 20.3x, and 14.3x expected 2018 EBITDA inclusive of full run-rate cost synergies. Frutarom shareholders will also receive a special dividend, on a per share basis, equal to 0.249 of the per share value of IFF dividends with a record date after the date hereof and prior to the closing. The transaction is expected to close in six to nine months and is subject to approval by Frutarom shareholders, clearance by the relevant regulatory authorities and other customary closing conditions.

05:36 EDT Dentsply Sirona boosts share repurchase program by $500M to $1B - Dentsply Sirona announced yesterday that on April 25, its board authorized an increase of $500M of common stock to its share repurchase program. This authorization is in addition to the $500M previously authorized by the board on February 14, bringing the total share repurchase authorization up to $1B of common stock.

05:34 EDT Genetech cancer immunotherapy Tecentriq granted FDA Priority Review - Genentech, a member of the Roche Group, announced that the FDA has accepted the company's supplemental Biologics License Application, or sBLA, and granted Priority Review for Tecentriq, in combination with Avastin, paclitaxel and carboplatin, for the initial treatment of people with metastatic non-squamous non-small cell lung cancer, or NSCLC. The FDA is expected to make a decision on approval by September 5, 2018. A Priority Review designation is granted to medicines that the FDA has determined to have the potential to provide significant improvements in the treatment, prevention or diagnosis of a disease.

05:23 EDT Mondelez to acquire Tate's Bake Shop for about $500M - Mondelez International today announced an agreement with The Riverside Company, a global private equity firm, and other shareholders, including Founder Kathleen King, to acquire Tate's Bake Shop for approximately $500M. Known for its signature thin-and-crispy cookies with simple, authentic, high-quality ingredients, Tate's is a fast growing, premium cookie and baked goods brand. Mondelez International will operate Tate's as a separate standalone business to nurture its entrepreneurial spirit and maintain the authenticity of the brand while providing resources to accelerate growth. Tate's Bake Shop senior leadership will continue to run the Tate's business from its headquarters on Long Island, including its Bake Shop located in Southampton. Tate's will continue to produce all products at its current manufacturing facility. The acquisition is subject to customary closing conditions and is expected to close during the summer of 2018.