Stockwinners Market Radar for May 11, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

UNH

Hot Stocks

18:30 EDT UnitedHealth 'welcomes' Trump Administration's focus on reducing drug costs - UnitedHealth Group released the following statement on the Trump Administration's drug policy proposal: "The fundamental issues with prescription drug affordability are the high prices set by and marketing practices of pharmaceutical manufacturers, so we welcome the Administration's focus on reducing drug costs. UnitedHealth Group remains committed to offering concrete solutions to further protect consumers from rising drug prices and building programs to help make prescription drug costs more affordable, predictable and stable - programs like our industry-first initiative to provide point of sale pharmacy discounts for our commercial customers, and our application of advanced technology to provide drug cost transparency right in the doctor's office."
BSX

Hot Stocks

18:01 EDT Boston Scientific announces data demonstrating success of SMART Pass - Boston Scientific announced results from an analysis of the LATITUDE database which evaluated the successful reduction of inappropriate shocks using the SMART Pass sensing filter in patients implanted with the EMBLEM Subcutaneous Implantable Defibrillator System. The real-world data were presented during a late-breaking clinical trial at Heart Rhythm 2018, the Heart Rhythm Society's 39th Annual Scientific Sessions in Boston, and demonstrated that when the sensing filter was in use, the rate of inappropriate shocks was reduced to 4.3% at one year. The analysis was also published online today in the Heart Rhythm Journal. The SMART Pass sensing filter is an advanced algorithm within the EMBLEM S-ICD System that filters out certain signals that are the primary reason for inappropriate shocks, while maintaining the ability to accurately detect ventricular tachycardia or ventricular fibrillation and deliver lifesaving therapy. Study authors evaluated the effect of SMART Pass on shocks in ambulatory patients and found that the filter reduced the risk for the first inappropriate shock by 50% and the risk for all inappropriate shocks by 68%, without a negative impact on delivery of appropriate shocks.
HTLD

Hot Stocks

17:28 EDT Heartland Express announces 5M share repurchase program - The Board of Directors of Heartland Express announced the authorization for the repurchase of up to 5M shares of its outstanding common stock in addition to the approximate 2.3M shares remaining under a prior authorization. The share repurchase authorization is discretionary and has no expiration date. The repurchase program may be suspended, modified, or discontinued at any time.
MDT

Hot Stocks

17:21 EDT Medtronic 'encouraged' by MARVEL study results - Medtronic announced new clinical study results demonstrating that an investigational algorithm, utilizing the accelerometer signal in the Micra Transcatheter Pacing System may restore AV synchrony, improving cardiac function in patients with sinus rhythm and atrioventricular block. The results from the MARVEL feasibility study were presented today during a late-breaking session at Heart Rhythm 2018, the Heart Rhythm Society's 39th Annual Scientific Sessions, and simultaneously published in Heart Rhythm. "The results of MARVEL indicate that this novel mechanical sensor may allow more patients to benefit from a miniaturized leadless pacemaker," said Larry Chinitz, M.D., MARVEL study principal investigator and cardiac electrophysiologist and director of NYU Langone's Heart Rhythm Center in New York City. "Although single-chamber pacing in the ventricle is quite safe for these patients, the preferred option is to treat them with a wired pacemaker in two chambers to maintain synchrony and cardiac function. However, patients with these traditional pacemakers are at risk of experiencing complications related to the pocket and the leads, and leadless pacemakers remove these risks." "We are encouraged by the results of MARVEL, which support our commitment to extending the benefits of Micra TPS to broader patient groups," said Rob Kowal, M.D., Ph.D., vice president and chief medical officer of the Cardiac Rhythm and Heart Failure division, which is part of the Cardiac and Vascular Group at Medtronic. "We are investing in additional clinical studies to confirm this accelerometer-based leadless pacing approach will benefit patients with AV block who make up approximately 40 percent of the pacemaker population worldwide."
REGI SNCR

Hot Stocks

17:19 EDT Renewable Energy to replace Synchronoss in S&P 600 at open on 5/15 - Nasdaq has decided to suspend Synchronoss Technologies from its exchange due to noncompliance with listing requirements making the company no longer eligible for continued inclusion in the S&P SmallCap 600.
TMHC

Hot Stocks

17:09 EDT Integrated Core Strategies reports 5.1% passive stake in Taylor Morrison
TALO

Hot Stocks

17:06 EDT MacKay Shields reports 7.46% passive stake in Talos Energy
STDY

Hot Stocks

17:03 EDT Stonepine Capital reports 5.2% passive stake in SteadyMed
MDT

Hot Stocks

17:03 EDT Medtronic study confirms new extravascular approach feasibility for ICD therapy - Medtronic announced results from a research study demonstrating the feasibility of a novel approach to delivering pacing and defibrillation therapy in which a lead is placed under the sternum, outside of the heart and veins. Data from the Acute Extravascular Defibrillation, Pacing and Electrogram study were presented during a late-breaking session at Heart Rhythm 2018, the Heart Rhythm Society's 39th Annual Scientific Sessions. The results of the international ASD2 feasibility study, an important step in the Medtronic extravascular ICD clinical development program, confirmed that an investigational extravascular ICD lead can sense, pace and defibrillate the heart, thus offering a potential future alternative to traditional transvenous ICD systems.
YUMA

Hot Stocks

16:49 EDT Yuma Energy actively seeking strategic alternatives - Yuma Energy announced that it is actively seeking strategic alternatives and provided information related to its liquidity and operations. The Company also reported its financial results for the quarter ended March 31, 2018. Yuma is currently exploring strategic alternatives in order to enhance and maximize shareholder value. These strategic alternatives may include, but are not limited to, a business combination, a merger, sale of assets, and possible capital market transactions. Yuma will thoroughly evaluate all opportunities and third-party proposals, if any, and will aggressively pursue options which are intended to add incremental shareholder value relative to its continued standalone activities.
DHCP

Hot Stocks

16:41 EDT Samuel Martini reports 8.87% passive stake in Ditech
CCO

Hot Stocks

16:39 EDT Clear Channel Outdoor to delay filing quarterly report on Form 10-Q - As previously reported on a Form 12b-25, Clear Channel Outdoor Holdings was unable to file its annual report on Form 10-K for the fiscal year ended December 31, 2017 within the prescribed period due to a delay in completion of the financial statements of Clear Media Limited, an indirect, non-wholly-owned subsidiary of the Company whose ordinary shares are listed, but are currently suspended from trading, on the Hong Kong Stock Exchange. The Company determined that it was necessary and prudent to delay the filing of the quarterly report on Form 10-Q for the three months ended March 31, 2018 to allow management to focus on completing the Annual Report. Due to the competing demands on management, the delay in filing the Form 10-Q could not be avoided.
ORCL

Hot Stocks

16:31 EDT Oracle names Charles Moorman IV, William Parrett to board of directors - Oracle Board of Directors announced that it has unanimously elected Charles Moorman IV and William Parrett to the company's Board of Directors. The election is effective as of May 9 and increases the size of the Board to 14 directors. All members of Oracle's Board of Directors serve one-year terms and are expected to stand for election at the company's next annual meeting of stockholders in November 2018.
ESPR

Hot Stocks

16:21 EDT Boxer Capital reports 9.6% passive stake in Esperion
ROAD

Hot Stocks

16:21 EDT Empyrean Capital reports 6.8% passive stake in Construction Partners
RF

Hot Stocks

16:19 EDT Regions Financial CFO sells 46,374 common shares - In a regulatory filing, Regions Financial CFO David J. Turner, Jr. disclosed the sale of 46,374 common shares of the company at a price of $19.3393 per share.
UCBI

Hot Stocks

16:15 EDT United Community Banks raises quarterly dividend to 15c per share - dividend is payable July 5 to shareholders of record on June 15.
MANH

Hot Stocks

16:15 EDT Manhattan Associates CFO sells 16,280 common shares - In a regulatory filing, Manhattan Associates EVP, CFO and Treasurer Dennis B. Story disclosed the sale of 16,280 common shares of the company at a price of $43.127 per share.
DBD

Hot Stocks

16:08 EDT Gabelli reports 9.56% stake in Diebold
KMB

Hot Stocks

16:06 EDT Kimberly-Clark names Kim Underhill the president of Kimberly-Clark North America - Kimberly-Clark Corporation announced executive leadership changes to sharpen its focus on executing its global business plan. Kim Underhill, President of Kimberly-Clark Professional, has been named Group President Kimberly-Clark North America. In her new role, Underhill will lead Kimberly-Clark's nearly $8 billion North American consumer business, with trusted brands such as Huggies, Kleenex, Cottonelle, and Depend. Underhill is succeeding Larry Allgaier who has announced his intent to pursue opportunities outside of the company.
JBLU

Hot Stocks

16:06 EDT JetBlue reaches agreement in principle with Air Line Pilots Association - JetBlue announced it has reached an agreement in principle with the Air Line Pilots Association regarding JetBlue's pilots. The agreement is subject to a ratification process which includes final documentation, review, and consideration by the ALPA Master Executive Council before being distributed to JetBlue pilots for final ratification.
PRGO

Hot Stocks

16:05 EDT Perrigo does not expect to meet ProAir generic Q4 launch goal
PRGO

Hot Stocks

16:03 EDT Perrigo expects complete response letter on generic version of ProAir - Perrigo Company announced that it expects to receive a Complete Response Letter from the U.S. Food and Drug Administration regarding its Abbreviated New Drug Application for its generic version of ProAir Inhalation Aerosol. The FDA issues a Complete Response Letter to indicate that the review cycle for an ANDA is complete and that the application is not ready for approval. The FDA informed the company of this information via teleconference late in the afternoon on Thursday, May 10, 2018. Upon receipt of the Complete Response Letter, the company will evaluate the FDA's comments and how to best address them. Based upon this information, the company does not expect to meet its goal of launching a generic version of ProAir in the fourth quarter of 2018. As a result, the company no longer expects to achieve the approximately 9c per share benefit that was included in its 2018 reported and adjusted earnings per share guidance range.
RAS

Hot Stocks

15:57 EDT RAIT Financial trading resumes
ANCB

Hot Stocks

15:55 EDT M3 Partners reports 5.6% passive stake in Anchor Bancorp
TFX

Hot Stocks

15:40 EDT Teleflex sees avg organic constant currency revenue up 6%-7% per year in FY19-21 - Comments from the company's presentation slides accompanying the annual Investor Day earlier today. Reference Link
PSMT

Hot Stocks

15:35 EDT PriceSmart CEO Laparte sells 8,446 common shares - In a regulatory filing, PriceSmart president and CEO Jose Luis Laparte disclosed the sale of 8,446 common shares of the company at a price of $83.1015 per share.
ESRX

Hot Stocks

15:05 EDT Express Scripts says Trump 'rightly recognizes' drug companies charge too much - Express Scripts released a statement in response to the Administration's announcement today on prescription drug costs: "President Trump rightly recognizes drug companies charge way too much, and their prices need to come down. Express Scripts leads the way in reining in costs and improving care. By taking on tough challenges, we helped employers save $32 billion on their prescription drug bill in 2017 alone. We take decisive action to improve affordability and access for the 83 million Americans we serve. For more than 30 years, Express Scripts has been a champion in the fight to lower drug costs. Express Scripts stands up to drug companies and drug stores to make sure that everyone - patients, employers, health plans, unions and public programs - get a fair deal for the money they spend. It is clear, based on today's comments, that our role has never been more important to improving healthcare. In particular we were pleased that the Administration recognized and endorsed policies that we have advocated for over the years, including increasing access to biosimilars, increasing the number of generic drugs available, and eliminating gag clauses and clawbacks -- anti-patient practices that we do not engage in. We look forward to working with the Administration to enact pro-patient, pro-payer policies."
CVS

Hot Stocks

15:04 EDT CVS 'commends' Trump focus on reducing cost of prescription drugs - In response to President Trump's special address on the high cost of prescription drugs, CVS Health issued the following statement: "At CVS Health we see every day the impact rising drug costs have on our patients. That's why we have developed and supported innovative solutions to lower health care costs and we look forward to partnering with leaders to continue to do so. We commend the Trump Administration's focus on reducing the cost of prescription drugs, and we agree more can and needs to be done. CVS Health is already well positioned to implement many of the key proposals outlined by the Administration. Today, CVS Health provides universal availability of rebates at the point of sale as an option for all clients to help their members save on out of pocket costs. We believe this approach leads to greater transparency in drug prices, and unquestionably demonstrates the true cause of rising drug costs for consumers: high list prices set by pharmaceutical manufacturers. CVS Health also provides patients with information on what they will pay out-of-pocket under their insurance plan for their prescription drugs and can also provide therapeutic alternatives that may be less expensive. This information reaches prescribers through an innovative e-prescribing system that can be utilized at the point of prescribing and at the pharmacy counter to quickly and seamlessly evaluate individual prescription savings opportunities in real time, saving patients up to $75 per prescription. CVS Health also supports several new initiatives that will help patients save money on their prescriptions, including reforms to Medicare Part D rebates that provide savings for seniors, not a windfall for drug manufacturers, and establishing an out-of-pocket cap for beneficiaries in Medicare Part D, which would meaningfully benefit seniors with extremely high drug costs. And as we have previously said, CVS Health does not engage in gag clauses and we support efforts to ban them. We believe that, working together with the Administration and Congress, we can advance effective solutions that meet our shared goals."
CVG

Hot Stocks

15:01 EDT Convergys jumps 13% after WSJ says in talks with potential buyers
DEST

Hot Stocks

14:43 EDT Destination Maternity disagrees with ISS' refusal to recommend director nominees - Destination Maternity issued the following statement in response to a May 10, 2018 report from Institutional Stockholder Services relating to the election of directors to Destination's board of directors at the company's May 23rd, 2018 Annual Meeting of Stockholders. The board urges Destination's stockholders to vote on the WHITE proxy card "FOR" the company's slate of nominees: Barry Erdos, Melissa Payner-Gregor, Peter Longo and Pierre-Andre Mestre. "We appreciate and share ISS's concerns about handing over control of your Company to the dissident Miller Group, including the significant risks inherent in such a change. Furthermore, while we strongly disagree with ISS's refusal to recommend the full slate of Destination's highly qualified, experienced and engaged Director nominees, we are pleased that ISS recommends voting the WHITE proxy card and recognizes the importance of Peter Longo's and Pierre-Andre Mestre's continued Board membership to Destination's future growth plans and continued success. We are confident stockholders will reach the conclusion that all of Destination's nominees, including Mr. Erdos, the Chairman of the Board, and Ms. Payner-Gregor, Destination's interim CEO, are the most qualified individuals to continue to execute the Company's ongoing initiatives."
HHS

Hot Stocks

14:24 EDT Fondren Management raises Harte-Hanks stake to 8.3% to 7.2%
ESRX...

Hot Stocks

14:24 EDT Express Scripts rebounds, now up 2.5% after HHS Secretary discussed drug plans - Alex Azar, the Secretary of Health and Human Services, spoke at the White House about the administration's just released blueprint for lowering drug prices. Reference Link
ESRX

Hot Stocks

14:17 EDT Express Scripts drops as President Trump discusses plans to lower drug prices - Shares of Express Scripts are down about 1%, or 76c, to $70.19 as President Trump makes a speech about drug prices from the White House.
AZRX

Hot Stocks

14:17 EDT Highbridge Capital reports 5.97% passive stake in AzurRx BioPharma
ESRX...

Hot Stocks

14:13 EDT Trump says 'very much eliminating the middlemen' in drug supply chain - President Donald Trump is speaking from the White House about his administration's proposals to lower drug prices. Pharmacy benefit managers, or PBMs, include Express Scripts (ESRX), CVS Health (CVS) and UnitedHealth's (UNH) Optum Rx. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
BMY...

Hot Stocks

14:09 EDT White House releases details of plan to lower drug prices - A release from the White House attributed to Alex Azar, the Secretary of Health and Human Services, Scott Gottlieb, the Commissioner of the Food and Drug Administration, and Seema Verma, the Administrator of the Centers for Medicare & Medicaid Services, shared details of the Trump Administration's plan to lower drug prices. The plan announcement states in part: "First, HHS aims to increase competition in drug markets. Second, we are going to give Medicare Part D plans better tools to negotiate discounts on behalf of our seniors - tools that private-sector health plans often already use. Third, we will develop new incentives for drug manufacturers to lower list prices. Fourth, we develop options to lower patients' out-of-pocket spending." Publicly traded pharmaceutical makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Reference Link
NVS

Hot Stocks

13:50 EDT Senator Wyden opens probe into Novartis over Cohen payments - U.S. Senator Ron Wyden, a Democrat from Oregon and ranking member of the Senate Committee on Finance, wrote a letter to Novartis CEO Vasant Narasimhan that he is launching an investigation into Novartis' $1.2M in payments to President Trump's personal lawyer Michael Cohen. Wyden said that such payments were made while the company was negotiating novel payment arrangements with the Centers for Medicare & Medicaid Services for a cnacer therapy priced at nearly $500,000, and at the same time the company was seeking approval from the FDA for this new therapy, Kymriah, which has been a key source of revenue for the company's line of oncology drugs. The letter notes that, while the payments to Cohen's firm were being made soo that Cohen "could advise the company" about how the Trump administration might look at certain U.S. healthcare policy matters, Novartis' in-house lobbyists were meeting with the White House, FDA, CMS, and other Trump administration agencies regarding a wide range of issues. The Committee requested in the letter that Novartis provide a variety of documents and answer a series of questions no later than June 5, 2018. Such documents include any contracts with Essential Consultants, Cohen, or any other entities involved; various payment details; copies of lobbying contracts; anything that explains the internal approval process for the contract with Cohen or his firm; something explaining why Novartis decided to engage with Cohen; all communications between the comapny and Cohen, his firm, and/or any other entities involved; all internal and external communications on the matter; any and all external communications between Novartis and the White House or any White House agencies; and copies of any documents supplied by Novartis to the DOJ or any law enforcement agency related to this matter. Reference Link
CWT...

Hot Stocks

13:48 EDT California Water Service calls SJW Group's letter to stockholders 'deceptive' - California Water Service (CWT) issued a statement in response to a stockholder letter that the Board of Directors of SJW Group (SJW) made public today. California Water stated in part: "It's unfortunate that SJW's Board of Directors is continuing to resort to fear-mongering and hyperbole, while ignoring the facts, to pressure its stockholders into accepting an inferior no-premium transaction with Connecticut Water that puts squarely on its investors the risk of operating two separate water systems 3,000 miles apart. It defies credulity for SJW's Board to characterize the certain value that our all-cash proposal will deliver as 'illusory' while touting that its all-stock merger with Connecticut Water will deliver 'concrete' value. SJW stockholders deserve actual details and quantification of such 'concrete' value in lieu of the vague aspirational statements that the SJW Board continues to make. If SJW's Board prefers a stock transaction, we previously gave them that option. Last September, we made a private offer for stock or cash, which the SJW Board summarily rejected with no engagement. It's curious that SJW failed to disclose this highly material fact in its preliminary proxy statement - and continues to hide it from its stockholders...It's time for SJW's Board to stop making baseless assertions. We again invite SJW's Board to engage with us to create value for all of our stakeholders, instead of continuing with a misinformation campaign that only hurts the stockholders, employees, customers and local communities of both companies."
BHGE

Hot Stocks

13:03 EDT Baker Hughes reports U.S. rig count up 13 to 1,045 rigs - Baker Hughes reports the U.S. rig count is up 13 rigs from last week to 1,045, with oil rigs up 10 to 844, gas rigs up 3 to 199, and miscellaneous rigs unchanged at 2.
BSX

Hot Stocks

13:02 EDT Boston Scientific says 60 Minutes will cover info 'already publicly available' - In a statement emailed to The Fly, Boston Scientific said, "We are aware of the segment and provided the producers of '60 Minutes' with our perspective, and we remain dedicated to offering safe and effective treatment options for women and all patients. There are no new developments with the mesh issue and we expect that the program will cover information that is already publicly available."
NEWT

Hot Stocks

12:59 EDT Newtek Business Services raises dividend to 42c from 40c per share - Newtek Business Services announced that its board of directors declared a second quarter 2018 cash dividend of 42c per share. The second quarter dividend is payable on June 29 to shareholders of record as of June 15. The company also reiterated its 2018 annual cash dividend forecast of $1.701 per share, which would represent a 3.7% increase over the company's 2017 annual dividend of $1.64 per share. Newtek previously declared a first quarter 2018 cash dividend of 40c per share.
TEO

Hot Stocks

12:58 EDT Telecom Argentina trading resumes
HMST

Hot Stocks

12:31 EDT Glass Lewis urges HomeStreet shareholders to vote for company's nominees - HomeStreet, the parent company of HomeStreet Bank, announced that Glass Lewis & Co., an independent proxy voting advisory firm, has recommended that shareholders vote on the WHITE proxy card in support of the company's director nominees, Scott M. Boggs, Douglas I. Smith and Mark R. Patterson, and DO NOT VOTE on Roaring Blue Lion's card. Glass Lewis also recommended shareholders vote FOR all three of the Company's proposals Mark K. Mason, President and CEO of HomeStreet, said, "We are pleased that Glass Lewis recommended shareholders support HomeStreet's highly-qualified nominees, Scott M. Boggs, Douglas I. Smith and Mark R. Patterson. Notably, Glass Lewis specifically highlights the qualifications of our directors, the merits of our strategic plan and the myriad ways in which the activist's criticisms of HomeStreet are lacking. We look forward to continuing to make our case to shareholders in advance of the Annual Meeting."
IMMR

Hot Stocks

12:06 EDT Viex enters agreement with Immersion, withdraws director nominee - Viex Capital Advisors disclosed that it entered into a cooperation agreement with Immersion. Pursuant to the agreement, Viex agreed to nominate and recommend Kenneth Traub for election as a Class I director at the company's 2018 annual meeting of stockholders, to be held no later than June 29, with a term expiring at the 2019 annual meeting of stockholders. Also pursuant to the agreement, Viex agreed to withdraw its nominee for election as a director at the 2018 annual meeting and vote, or cause to be voted, all shares it beneficially owns in favor of Mr. Traub. Viex owns 7.5% of Immersion's outstanding shares.
CTB

Hot Stocks

12:04 EDT Cooper Tire supports 5-yr mid-term operating profit growth of 10%-14% - At its Investor Day in New York today, Cooper Tire & Rubber Company outlined strategies for continued shareholder value creation. Management detailed plans to support five-year mid-term targets for operating profit of 10%-14% as well as annual unit volume growth in the low- to mid-single digits and return on invested capital of 14%-16% percent. Cooper is implementing strategic initiatives to leverage its strong position with consumers, who have increased knowledge and power in the tire business. The company is enhancing its focus on fast- growing premium product lines, accelerating the cadence of new product introductions, such as its upcoming AT3 tire line, and enhancing consumer involvement in product development and testing. At the same time, Cooper is also focused on maximizing its core positions in the independent dealer and national and regional retail channels by enhancing distributor programs and strengthening partnerships. In addition, Cooper is focused on increasing its presence in the fastest-growing sales channels, including mass merchandisers, auto dealers and e-commerce. In Asia, Cooper is focused on continuing to build its OE business. In China, the company has fitments on 47 platforms including five of the top-10 selling SUVs in 2017. In the global OE market, Cooper has established a partnership with Volkswagen and is finalizing collaboration with a premium European auto maker. The company's OE business gives Cooper early product development insight into changing tire requirements driven by the latest vehicle designs, technologies and trends, as well as strengthens the Cooper brand among consumers and retailers. Recent consolidation in tire distribution is disrupting the industry landscape. Management believes that such disruption presents opportunity for Cooper. The company is in a position to benefit as changes in distribution entities pressure long-standing relationships between distributors and tire manufacturers. Cooper's core strengths, including brand equity, quality products, and strategic relationships with national and regional distributors, will allow the company to harness certain opportunities and Cooper is actively pursuing a joint action plan with key distributors and a conquest plan to increase its associate dealer program exposure and participation.
STWD

Hot Stocks

11:57 EDT IWG reports approach from Lone Star, proposals from Starwood and TDR - The Board of IWG plc notes the share price movement and confirms that it has received an approach from Lone Star Europe Acquisitions Limited and two separate indicative proposals from Starwood Capital European Operations Limited and TDR Capital LLP regarding a possible cash offer for the entire issued and to be issued share capital of the company. "The Board is evaluating the Possible Offers with its financial advisers and shareholders will be updated in due course. There can be no certainty that any offer will be made for the Company, nor as to the terms on which any offer might be made...This announcement has been made without the consent of Lone Star, Starwood or TDR," IWG stated.
TEO

Hot Stocks

11:51 EDT Telecom Argentina trading halted, news pending
GME T

Hot Stocks

11:43 EDT GameStop slips after CEO resigns only months after taking top post - Shares of GameStop (GME) were trading lower after its chief executive officer resigned from the position for personal reasons, effective immediately. WHAT'S NEW: Before the market open, GameStop announced the resignation of CEO Michael Mauler for personal reasons and said that the board had appointed Daniel DeMatteo as interim CEO. DeMatteo, one of the game retailer's co-founders, will continue to serve as executive chairman and director. In a regulatory filing, GameStop said that Mauler's resignation was not due to any disagreement with the company regarding its "financial reporting, policies or practices or any potential fraud relating thereto." WHAT'S NOTABLE: The move from the game retailer is the latest in a saga of upper management shifts. On February 6, GameStop announced Michael Mauler's appointment as CEO of the company after J. Paul Raines resigned from his position for health reasons. Later that week, GameStop disclosed in a regulatory filing that it had terminated the employment of chief operating officer Tony D. Bartel and executive vice president of strategic business and brand development Michael P. Hogan. LOOP KEEPS HOLD: Following the CEO news, Loop Capital analyst Anthony Chukumba maintained a Hold rating on GameStop, saying he was "very surprised" by Mauler's resignation, especially since had been in the position for just over three months and the company previously "cleaned house" when he was installed at the top. Chukumba said that management turmoil is the last thing the retailer needs as it attempts to manage through the headwind of growing full game downloads in its core video game business and renegotiating more favorable terms from AT&T (T) in its struggling postpaid wireless retailing business. Still, the analyst said the Hold rating remains appropriate based on the "almost unheard of" 1.9x enterprise value/EBITDA multiple at which the stock now trades. BAIRD KEEPS OUTPERFORM: In addition, Baird analyst Colin Sebastian reaffirmed an Outperform rating and $18 price target on GameStop, saying he does not believe the CEO change will impact the company's strategic direction. Sebastian also noted that another CEO transition could push GameStop's board to review or consider strategic alternatives, in particular with shares not reflecting much confidence in the current operations. PRICE ACTION: In late morning trading, GameStop shares fell about 1.9% to $12.80.
DIS...

Hot Stocks

10:41 EDT Box Office Battle: 'Infinity War' expected to threepeat this weekend - Disney's (DIS) "Avengers: Infinity War," which is already the thirteenth highest grossing global release of all time, passing "The Fate of the Furious," is expected to earn around another $62M domestically in its third weekend at theaters, bringing it to $550M domestically by the end of the weekend. The superhero spectacular is also opening this weekend in China, where it is expected to top $100M for the weekend. This weekend's two major releases are likely to be fighting for second place. They are Time Warner's (TWX) New Line Cinema's comedy "Life of the Party," starring Melissa McCarthy, and Comcast (CMCAS, CMCSK) subsidiary Universal's thriller "Breaking In," starring Gabrielle Union. "Life of the Party," which is playing in 3,656 theaters, is expected to open at about $21M, while "Breaking In," which is playing at 2,537 theaters, is expected to open in the range of $17M-$20M. Lionsgate (LGF.A, LGF.B) backed Pantelion Films' romantic comedy "Overboard," starring Eugenio Derbez, Anna Faris, and Eva Longoria, is expected to earn an additional $9M in its second weekend at theaters. Other publicly traded companies in filmmaking include 21st Century Fox (FOX, FOXA), Sony (SNE), and Viacom (VIA, VIAB).
CAT

Hot Stocks

10:38 EDT Caterpillar reports retail machines sales up 28% in three months end April - Caterpillar reported in a regulatory filing earlier that its total retail machines sales were up 28% on a three month rolling basis in April. For reference, retail sales of machines were up 26% in the period ending in March and up 33% in the period ending in February. The company reported world Resources Industries sales up 57% in the April-end period, compared to a March period increase of 50%. Construction Industries world sales were up 23% in the April-end period, versus the 21% increase in the prior three-month period. Total Energy & Transportation Retail Sales were up 14% in the April-end period, down from a 21% increase in the March-end period.
BTC...

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10:33 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly: 1. FACEBOOK FORMS BLOCKCHAIN TEAM: David Marcus, the Facebook (FB) executive who has recently been running the company's standalone Messenger app, is leaving Messenger to head a new internal team dedicated to exploring blockchain, Recode reported Tuesday. The team will be small at first, with fewer than a dozen people, but will include several key Instagram executives who are moving over to join the former Messenger boss. 2. ICE DEVELOPS BITCOIN TRADING PLATFORM: Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, has been developing a trading platform that would enable investors to bet on bitcoin, Bloomberg reported Monday. The exchange operator has held talks with other financial firms about the project but could still decide to scrap its plans, according to two people familiar with the matter. 3. S. KOREAN AUTHORITIES RAID CRYPTOEXCHANGE: South Korean prosecutors searched the offices of Upbit, one of the world's largest cryptocurrency exchanges, Bloomberg reported Friday. An official from the Seoul Southern District Prosecutors' Office declined to provide additional details on the raid. "Upbit is currently under investigation by prosecutors and is cooperating," the exchange said, adding that services like transactions and withdrawals were not impacted and client assets were safe. 4. BUFFETT BASHES BITCOIN: In a Monday CNBC interview, billionaire investor and Berkshire Hathaway (BRK.A, BRK. B) chairman Warren Buffett said bitcoin is "rat poison squared" and buyers of the cryptocurrency hope they'll find others to pay more for it. Charlie Munger, Buffett's longtime business partner and Berkshire's vice chairman, said he views bitcoin as "worthless artificial gold," and compared it to Oscar Wilde's description of fox hunting, calling it "the pursuit of the uneatable by the unspeakable." Microsoft (MSFT) co-founder and Berkshire board member Bill Gates also chimed in, saying he would bet against bitcoin if he could. "As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment," he said. 5. CRYPTO BELIEVERS HIT BACK: In a Wednesday CNBC interview, Social Capital's (IPOA) Chamath Palihapitiya said he is a Buffett "disciple" but he sees bitcoin as a replacement for gold. "Not everybody is right all the time," he said, adding technology knowledge is not in Buffett's "circle of competence." Palihapitiya also said bitcoin is important as it's not correlated to the rest of the market and he views it as a hedge to the "traditional financial infrastructure." Tyler Winklevoss, co-founder of cryptoexchange Gemini, fired back at Gates on Monday tweeting, "Dear @BillGates there is an easy way to short bitcoin. You can short #XBT, the @CBOE Bitcoin Futures contract, and put your money where your mouth is!" 6. NVIDIA FORECASTS CRYPTO REVENUE DROP: Nvidia (NVDA) had an elevated number of cryptocurrency clients and fewer than expected cloud computing orders in the first quarter but said a supply shortage that hit its core video game audience has eased. The company, which reported $289M in sales from chips for mining cryptocurrencies, expects crypto-related revenue to drop 65% to about $100M in the next quarter. Chief Financial Officer Colette Kress said, "While supply was tight earlier in the quarter, the situation is now easing. Gamers who had been priced out of the market last quarter" were able to get new chips a reasonable price. Following Nvidia's Q1 announcement, Morgan Stanley analyst Joseph Moore said, "Cryptocurrency mining continues to inject noise into an overall very strong growth story, but it should be cleaned up in the next couple of quarters while numbers keep going up." CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia in select research. Overstock (OSTK), DPW Holdings (DPW), Long Blockchain (LBCC), Kodak (KODK), Seven Stars Cloud Group (SSC), Riot Blockchain (RIOT), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme PRICE ACTION: As of time of writing, bitcoin dropped roughly 10.5% this week to $8,593 in U.S. dollars according to CoinDesk. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.
DEST

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10:31 EDT Investor Group says ISS recommendation at Destination Maternity supports change - Nathan Miller and Peter O'Malley, collective holders of approximately 9% of the outstanding common stock of Destination Maternity Corporation released the following statement in regards to the recent report from Institutional Shareholder Services: "We are pleased that ISS agreed with our argument that the chronic underperformance at Destination Maternity is emblematic of a company not living up to its potential, and that change at the board level is warranted. However, we find it counterintuitive that while agreeing with these fundamental points, ISS refrained from recommending for our majority female slate, citing a lack of public board experience among our nominees as the primary justification. The reality is that Destination Maternity is a company where the absence of female board representation and leadership is in direct misalignment with the strategic goals, end customers and product selection that will ultimately determine whether DEST becomes a successful turnaround story, or yet another cautionary tale of mismanagement and missed opportunity. Notably, before launching this proxy contest we proposed to the company that they add to the Board two of our highly-qualified female nominees. They responded by adding two men. The share of women on S&P 500 company boards rose merely 1 percentage point last year to 22% If the argument - a chauvinist trope - continues to be that qualified women executives should not be added to boards because they have not previously served on boards, this embarrassing problem will not get solved. Board diversity cannot remain a 'chicken or the egg' situation. As such, we believe that our highly-qualified nominees Holly Alden, Christopher Morgan, Marla Ryan and Anne-Charlotte Windal should be added to the Board of Directors of the company in order to bring about the level of change needed to reverse the years of mismanagement and underperformance the company has suffered."
GM

Hot Stocks

10:22 EDT General Motors reports plan to return GM Korea to profitability by 2019 - GM Korea Company announced a "robust business plan that is intended to return the company to profitability by 2019," reported General Motors. "This viability plan will be underpinned by a record $2.8 billion investment in two new global vehicle programs and a deep partnership among major shareholders, the workforce and the Korean government. Additionally, GM and the KDB have agreed on a balance sheet restructuring that will allow GM Korea to reduce its existing debt by approximately $2.8 billion. The company's two major shareholders, the Korea Development Bank and General Motors, confirmed their full support of the viability plan by finalizing a breakthrough binding agreement that will help enable a profitable, long term future for GM Korea," GM stated.
RAS

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10:08 EDT RAIT Financial trading halted, news pending
SAVE

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10:02 EDT Spirit Airlines to partner with Thales Group for in-flight Wi-Fi - Spirit Airlines announced it is signing an agreement to install Wi-Fi on all of its planes by summer 2019. "Spirit Airlines Wi-Fi technology partner, Thales Group, a global technology leader for decisive moments in aerospace, defense and security, and transportation markets, is bringing the high-end Ka-band HTS system onboard the aircraft... In 2021, the state-of-the-art technology will get even better, with the launch of SES-17, a new satellite operated by SES and built by Thales Alenia Space, which will increase speeds and coverage to an unprecedented level in the industry. Spirit Wi-Fi is projected to provide service coverage immediately for 97% of Spirit's routes upon entry into service...Spirit will offer high-speed web browsing and streaming options starting with an average price of $6.50, with a cost range expected to be lower or higher based on the route and demand," the company stated.
BLNK

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09:37 EDT Blink Charging jumps 13% after Miami area plans - Earlier, Blink Charging said it is expanding its footprint in the Miami area with a wave of new EV charging station installations.Shares are up 12.77% to $5.86 in early trading.
GME

Hot Stocks

09:22 EDT GameStop drops 5% after resuming trading following news of CEO resignation - GameStop shares are down 68c, or 5.2%, to $12.35 in pre-market trading following news of the resignation of CEO Michael Mauler.
GME

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09:19 EDT GameStop trading resumes
TOT

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09:19 EDT Total, Sonatrach launch engineering studies for petrochemical project in Arzew - As part of the comprehensive partnership announced in 2017, Total has signed an agreement with Sonatrach to launch the engineering studies for a petrochemical project in Arzew, western Algeria. The project includes a propane dehydrogenation unit and a polypropylene production unit with an output capacity of 550,000 tons per year. The project represents an investment of around $1.4B by the two partners, who are planning to start the front-end engineering and design this summer, subject to approval by the relevant Algerian regulatory authorities. The facility will valorize propane, produced in large quantities locally, by transforming it into polypropylene, a plastic for which demand is growing strongly. It will supply in priority the local and Mediterranean demand and Total will be responsible for the commercialization of the rest of the production in Europe, where it will leverage its market expertise to the benefit of both partners.
GME

Hot Stocks

09:19 EDT GameStop says CEO resignation not due to disagreement 'or any potential fraud' - As previously reported, GameStop announced that the company's board has appointed Daniel DeMatteo as interim chief executive officer following the resignation of Michael Mauler for personal reasons, effective immediately. In a related regulatory filing, the company stated: "Mauler's resignation is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto. In connection with Mr. Mauler's resignation, 23,324 shares of restricted stock and accumulated dividends will be released from transfer restrictions in accordance with the Company's Retirement Policy. Otherwise, Mr. Mauler will not be entitled to severance or other separation benefits in connection with his resignation."
IMMR

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09:16 EDT Immersion announces cooperation agreement with VIEX Capital Advisors - Immersion has entered into a cooperation agreement with VIEX Capital Advisors and its affiliates, which, in the aggregate, beneficially own approximately 7.7% of Immersion's outstanding common stock. Under the terms of the agreement, Immersion has agreed to nominate to its Board of Directors, and Immersion and VIEX have agreed to support the election of a new independent director, Kenneth Traub, at Immersion's 2018 annual meeting of stockholders. Under the terms of the cooperation agreement, VIEX and its affiliates have agreed to vote their shares in support of the election of Traub. The complete agreement between Immersion and VIEX and its affiliates will be filed as an exhibit to a Current Report on Form 8-K with the Securities and Exchange Commission. Fenwick & West LLP served as legal advisor to Immersion. Olshan Frome Wolosky LLP served as legal advisor to VIEX.
GME

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09:15 EDT GameStop CEO Michael Mauler resigns, Daniel DeMatteo appointed interim CEO - GameStop announced that the company's board has appointed Daniel DeMatteo as interim CEO following the resignation of Michael Mauler for personal reasons, effective immediately. DeMatteo, one of the company's co-founders, will continue to serve as executive chairman and director. In the past, DeMatteo has served as the company's CEO and in a variety of board and executive roles since November 1996.
GME

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09:14 EDT GameStop CEO Michael Mauler resigns, Daniel DeMatteo appointed interim CEO
HONE

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09:11 EDT HarborOne Bancorp elects Michael Sullivan chairman of the board - HarborOne Bancorp announced that Michael Sullivan was elected chairman of the board of the company. Sullivan, a former US attorney and currently a partner with The Ashcroft Law Firm, joined the board in 2015. He was also elected chairman of the Bank and HarborOne Mutual Bancshares, succeeding board member Timothy Lynch, who had served as chairman of the company, the Bank and HarborOne Mutual Bancshares since 2015. Sullivan is a recognized expert in corporate compliance and ethics, corporate security, policy and regulatory matters, as well as government investigations. He was selected to serve on the board for his legal, policy and regulatory experience and service to the community. Sullivan currently serves as a member of the board of Signature Healthcare and the Old Colony YMCA. The board also re-appointed the company's senior executive leadership team. James Blake will continue to lead the company as CEO, a position he has held since 1995. In addition, Joseph Casey was appointed as President & COO of the Company, and Linda Simmons was named CFO of the company. Casey joined the Bank in 2004 as Senior Vice President and CFO. Simmons joined the Bank in July 2017 as senior VP and CFO. She had previously worked for The Cooperative Bank of Cape Cod.
PKOH

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09:06 EDT Park-Ohio names Matthew Crawford CEO - The Board of Directors of Park-Ohio Holdings announced that the company's Board of Directors has elected Matthew Crawford chairman and CEO, effective immediately. Edward Crawford was elected president and will remain as a member of the Board of Directors. Matthew Crawford has served as president and COO of Holdings and its operating subsidiary, Park-Ohio Industries, since 2003 and as a director since 1997.
CAKE EAT

Hot Stocks

09:03 EDT Cheesecake Factory names Scarlett May general counsel - The Cheesecake Factory (CAKE) announced the appointment of Scarlett May as EVP, general counsel and secretary of the company, effective May 14, 2018. She will succeed Debby Zurzolo, who announced earlier this year her plan to retire. In addition, the company named Keith Carango as president of The Cheesecake Factory Bakery. He succeeds Max Byfuglin, who retired from the company in April. Scarlett May joins The Cheesecake Factory from Brinker International (EAT), where she served as SVP, general counsel and secretary.
NUE

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09:01 EDT Nucor to build galvanizing line at Arkansas sheet mill - Nucor's Board of Directors approved the construction of a galvanizing line at the company's sheet mill in Arkansas to support Nucor's growth into a wider and more diverse set of strategic end-market applications. The new galvanizing line is a $240M investment with an annual capacity of approximately 500,000 tons. It is expected to be operational in the first half of 2021. This project complements the $230M investment currently underway to construct a specialty cold mill complex at Nucor Steel Arkansas. These projects are important components of Nucor's long-term strategy for profitable growth and will accelerate the company's goal of increasing its automotive market share. The company is also evaluating building additional galvanizing lines at its other sheet mills as part of Nucor's initiative to further expand its sheet business.
SYMC...

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08:58 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Trade Desk (TTD), up 29%... Immersion (IMMR), up 16%... ForeScout (FSCT), up 7%. ALSO HIGHER: Voyager Therapeutics (VYGR), up 5% after the stock was upgraded to Outperform from Neutral at Wedbush... Akcea Therapeutics (AKCA), up 11% after an FDA advisory committee voted 12-8 to support approval of volanesorsen for the treatment of people with familial chylomicronemia syndrome. DOWN AFTER EARNINGS: Nvidia (NVDA), down 2.5%... Halozyme (HALO), down 9%... Synergy Pharmaceuticals (SGYP), down 12%... Yelp (YELP), down 5%... Dropbox (DBX), down 1%. ALSO LOWER: Symantec (SYMC), down 29% after the revelation of an internal audit investigation and lower than expected guidance prompted no less than seven analyst downgrades of the stock.
GME

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08:56 EDT GameStop trading halted, news pending
BWP L

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08:51 EDT TAM Capital says Loews' failed to address concerns over Boardwalk dealings - TAM Capital Management, one of the largest minority shareholders in Boardwalk Pipeline Partners (BWP) released the following open letter to the Boards of Directors of Loews Corporation (L). The letter said, "I write once more to address Loews's continued efforts to stonewall Boardwalk's minority unitholders. Yesterday, Loews responded to my May 8 letter by complaining that it was 'unfair' to criticize it for causing a 16% drop in Boardwalk's unit price, and claiming that the federal securities laws 'oblig[ed]' it to disclose that it was 'seriously considering' exercising a call to buy Boardwalk's minority units. But Loews offered no explanation why it waited 6 weeks after the FERC announcement to make this 'oblig[ed]' disclosure-particularly, when Boardwalk assured investors that FERC's policy revisions would not materially impact revenues just 4 days after the guidance was issued. And more importantly, Loews has still utterly failed to address the consequences of its actions. By artificially depressing Boardwalk's unit price, Loews is improperly threatening to deprive unitholders of the unaffected price that the MLP agreement entitles them to receive if the call is exercised. Loews's silence on this point is deafening. In truth, the only thing that is 'unfair' in this situation is Loews's continued mistreatment of Boardwalk's minority unitholders. In the last few days, I have received an outpouring of support and concern from large and small unitholders alike. Among those who contacted me is an individual who has been living in fear that Loews's actions will deplete his retirement savings. There is no justification for mistreating minority unitholders this way. If Loews needs time to evaluate its options, it should offer assurances to minority unitholders that each passing day will not be used to deprive them of their savings. Within the next week, Loews should publicly announce that, if it decides to exercise the call option, it will pay minority unitholders at least $13.15 based on the unaffected historical Boardwalk trading price as of April 30, 2018-the day that Loews began affecting the market. It should further commit that if it decides not to exercise the option, it will refrain from doing so in the future or convert the partnership into a C-Corporation to remove the overhang that it has created in the units. To be clear, I am not asking Loews to forego exercising its option if it believes it is permissible to do so-even though it would be buying Boardwalk at a historically low price. I am only asking Loews to publicly commit not to profit on the back of minority unitholders from a decrease in Boardwalk's stock price that Loews itself is responsible for creating."
ISR

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08:38 EDT IsoRay announces upcoming release of Build-Blu delivery system - IsoRay announced the upcoming release of its Build-Blu delivery system for real-time prostate brachytherapy. The Build-Blu delivery system is a disposable, next-generation, seed stranding device that will allow prostate brachytherapists to affordably build custom-configured strands with Cesium-131 in the operating room, thereby allowing clinicians to individualize the procedure to the patient's anatomy in real time. This new product will provide an alternative solution to the approximately 25% of treatment facilities for the prostate market that are using intra-operative techniques.
ACHC

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08:36 EDT Acadia, Saint Thomas Health enter joint venture, establish psychiatric hospital - Saint Thomas Health and Acadia Healthcare have entered into a joint venture to expand and improve access to behavioral health care in Nashville, Tennessee. The partnership will include the establishment of a new 76-bed psychiatric inpatient hospital at Metro Center in Nashville, encompassing 40 adult psychiatric beds and 36 geriatric psychiatric beds. Saint Thomas Health will relocate the existing 24 geriatric psychiatric beds at Saint Thomas West Hospital to develop the planned freestanding hospital. As a part of this strategy, Saint Thomas Health plans to convert the existing geriatric psychiatric unit to a critical care unit needed to support the rising acuity levels at Saint Thomas West. Pending certificate of need approvals, construction would begin in early 2019. Saint Thomas Health currently has psychiatric programs at Saint Thomas West, River Park, Stones River and Highlands Hospitals, but only one of these programs serves the adult population, identified as patients younger than 65 years old.
AMCN

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08:34 EDT AirMedia receives minimum bid price notice from NASDAQ - AirMedia received a notification letter from the Nasdaq Listing Qualifications Department on May 8 notifying the company that the minimum bid price per ADS, each representing two ordinary shares of the company, was below $1.00 for a period of 30 consecutive business days. The company has a compliance period of 180 calendar days, or until November 5, to regain compliance with Nasdaq's minimum bid price requirement. In the event that the company does not regain compliance by November 5, the company may transfer to the Nasdaq Capital Market where it may be eligible for an additional 180 calendar day compliance period if it meets the initial listing requirements, with the exception of bid price, of the Nasdaq Capital Market, and provides written notice to Nasdaq of its intention to cure the deficiency.
ALSN

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08:31 EDT Allison Transmission names Fred Bohley as next CFO - Allison Transmission announced that its board of directors has appointed G. Frederick Bohley III as Vice President, CFO and Treasurer, effective June 1. Bohley has been with Allison Transmission since 1991 and currently serves as Vice President, Finance and Treasurer.
VOYA

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08:16 EDT Voya Financial to acquire Pen-Cal Administrators, terms not disclosed - Voya Financial announced that it has entered into an agreement to acquire Pen-Cal Administrators. As a result of the transaction, Pen-Cal will become part of Voya's Retirement business operating unit. Terms of the transaction were not disclosed, and are not material to Voya's financial position. Through this deal, nonqualified services will be available across all of Voya's 401(k), 403(b) and 457 plan markets and offered as an integrated solution when Voya is administering an employer's core defined contribution retirement plan. These best-in-class services will also be available when an employer is looking for nonqualified plan support on a stand-alone basis. The transaction is expected to close in the coming weeks, subject to customary closing conditions. As part of the arrangement, Pen-Cal will re-brand to Voya and clients will have access to an integrated enrollment and website experience.
WTM

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08:04 EDT White Mountains reports final results of tender offer - White Mountains announced the final results of its "modified Dutch auction" tender offer. The tender offer expired on May 7. 584,106 shares were properly tendered and not properly withdrawn at or below the final purchase price of $875 per share. The tender offer was oversubscribed. Pursuant to the terms of the tender offer, the company has purchased 575,068 shares at the final purchase price of $875 per share on a pro rata basis, except for tenders of odd lots, which have been accepted in full, for a total cost of approximately $503.2M, excluding fees and expenses related to the tender offer. White Mountains has determined that the proration factor for the tender offer is approximately 98.4%. The shares purchased in the tender offer represent approximately 15.3% of White Mountains's shares outstanding as of April 9. The company expects to have 3,178,337 common shares outstanding as of the time immediately following payment for the accepted shares.
ADXS AMGN

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08:04 EDT Advaxis says data shows potential of ADXS-NEO as anti-cancer immunotherapy agent - Advaxis (ADXS) provides an update on recently presented preclinical data demonstrating the anti-cancer potential of their Lm vector that presents tumor neoantigens, and is being evaluated in the ADXS-NEO program. ADXS-NEO is derived from the Company's proprietary Lm Technology and is being developed in partnership with Amgen (AMGN). These preclinical findings were discussed in poster presentations at the recent American Association for Cancer Research Annual Meeting. Additionally, portions of these data were presented by Amgen at a podium presentation during the European Neoantigen Summit 2018. The first study, as discussed in a poster presentation at AACR entitled "Neoantigens that fail to elicit measurable T cell responses following peptide immunization can control tumor growth when delivered using a Listeria-based immunotherapy platform," showed that ADXS-NEO generates T cell responses against neoantigen peptides that control tumor growth, even when they were identified as "non-immunogenic" using a conventional peptide-adjuvant immunization. In the second study, discussed in a poster presentation at AACR entitled "Targeting frameshift mutations with a Listeria monocytogenes immunotherapy drives neoantigen-specific antitumor immunity in MC38 and CT26 mouse tumor models," Advaxis' Lm platform was shown to target frameshift mutations and generate T cells to multiple neoantigens per frameshift in MC38 and CT26 mouse tumor models.
TREE

Hot Stocks

08:01 EDT LendingTree to acquire Ovation Credit Services for $20.75M - LendingTree announced that it has entered into a definitive agreement to acquire Ovation Credit Services, a leading provider of credit services with a strong customer service reputation. Ovation Credit Services utilizes a proprietary software application that facilitates the credit repair process and is integrated directly with certain credit bureaus while educating consumers on credit improvement via ongoing outreach with Ovation case advisors. LendingTree will acquire the shares of Ovation Credit Services for a total consideration of $20.75M, which consists of $12M in cash at closing, and contingent consideration payments of up to $8.75M. The transaction is expected to close in the second quarter of 2018, subject to regulatory approvals and other customary closing conditions.
VICI

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08:01 EDT VICI Properties files resale shelf registration statement - VICI Properties announced that it has filed a resale shelf registration statement on Form S-11 with the U.S. Securities and Exchange Commission relating to approximately 54.1 million shares of its common stock held by certain of its investors. This resale shelf registration statement, which may be used from time to time by these investors, has been filed pursuant to a registration rights agreement entered into by the Company in connection with its private placement completed in December 2017. To the extent any sales of common stock are made under the resale shelf registration statement, the Company will not receive any proceeds. The resale shelf registration statement has been filed with the SEC but has not yet become effective.
HPR

Hot Stocks

07:56 EDT HighPoint Resources appoints William M. Crawford as CFO - HighPoint Resources has promoted William M. Crawford to the position of CFO effective immediately. Crawford has served in various positions of increasing responsibility since joining the company in 2004 and most recently served as Senior VP - Treasury and Finance and has served as principal financial officer since April 2016.
BSX

Hot Stocks

07:49 EDT Boston Scientific pelvic mesh lawsuits to be highlighted by 60 Minutes - In a preview of its Sunday, May 13 broadcast, CBS' 60 Minutes stated that Scott Pelley will have a report on the 48,000 American women suing Boston Scientific over gynecological mesh in "what has become the largest multi-district litigation since asbestos." Reference Link
AMRX

Hot Stocks

07:34 EDT Amneal Pharmaceuticals closing Hayward, California facilities - Amneal Pharmaceuticals will close its Hayward, California-based facilities and operations, to streamline operations following a comprehensive analysis of its current and future product portfolios, plant capacities, overlapping capabilities and cost structure as a result of the recent business combination with Impax Laboratories. The company will immediately implement plans to phase out the Hayward facilities with an expected completion timeline of approximately 15 months, nearly one-year ahead of schedule. Amneal expects to transfer products manufactured at the Hayward facility to the company's lower-cost facilities in the U.S. and India. Amneal CEO Rob Stewart stated, "The acceleration of these initiatives primarily in manufacturing and R&D operations, combined with our large and diverse generic pipeline of potential high-value product opportunities, will help us achieve our commitment to generate approximately $1.1B of adjusted EBITDA by the end of 2020. Today's announcement is not expected to materially impact our full year 2018 adjusted EBITDA guidance of $600M-$650M and full year adjusted EPS of 95c-$1.10 per diluted share. We do expect a significant favorable impact beginning in 2019." Amneal expects the facility closures to reduce its workforce by approximately 550 positions.
ARWR

Hot Stocks

07:34 EDT Arrowhead presents preclinical data on expanding cardiometabolic pipeline - Arrowhead Pharmaceuticals announced the presentation of new preclinical data on its expanding pipeline of RNA interference therapeutics for cardiometabolic diseases, including ARO-ANG3, which targets angiopoietin-like protein 3, and ARO-APOC3, which targets apolipoprotein C-III. The invited lecture, titled "The promise of RNA interference as a therapeutic approach for treatment of cardiovascular diseases," was presented at the Vascular Discovery: From Genes to Medicine - Scientific Sessions 2018, a symposium organized by the American Heart Association. Arrowhead intends to file clinical trial applications (CTA) for ARO-ANG3 and ARO-APOC3 before the end of 2018. In the presentation, Dr. Given discussed the recent progress achieved using RNA interference as a therapeutic modality for the development of new drugs to treat cardiovascular diseases. The new preclinical data presented on ARO-APOC3 and ARO-ANG3 included the following:: A single 2 mg/kg dose of ARO-APOC3 in ApoC3 transgenic mice led to the following observations: Serum ApoC3 levels were reduced by approximately 90%, maximum knockdown was sustained for over three weeks. the lipid profiles improved with large reductions in serum triglycerides and cholesterol and large increases in HDL and in dose ranging studies of ARO-ANG3 in wild type mice, reductions in serum ANGPTL3 and liver mRNA were similar, indicating that the observed knockdown of serum ANGPTL3 is a direct result of the expected RNAi effect. The following mouse disease models were also interrogated: LDL receptor knock-out mice, leptin receptor defective db/db mice and diet-induced obese mice. A single 3 mg/kg dose in LDLr-/- mice and in db/db mice led to: a maximum reduction of ANGPTL3 of 98% and substantial decreases in serum triglycerides and LDL. A single 3 mg/kg dose in DIO mice led to: a maximum reduction of ANGPTL3 of 99.7% and approximately 50-60% reductions in serum triglycerides and LDL.
QCOM NXPI

Hot Stocks

07:31 EDT Qualcomm extends cash offer for NXP Semiconductors to May 25 - Qualcomm (QCOM) announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP, as amended. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on May 25, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.
BCS

Hot Stocks

07:29 EDT Barclays CEO Staley charged with financial penalties by FCA, PRA - As previously reported by Barclays April 20, the FCA and PRA had issued confidential draft warning notices to Jes Staley, Group Chief Executive Officer of Barclays, in relation to an attempt by Staley in 2016 to identify the author of an anonymous letter. The bank reports that these regulatory processes have now concluded, and today the FCA and PRA have published final notices confirming their finding that Staley's actions in relation to this matter represented a breach of Individual Conduct Rule 2, a requirement to act with due skill, care and diligence. The FCA and PRA have imposed financial penalties on Staley of GBP 321,200 and GBP 321,230 respectively, or in aggregate GBP 642,430. There were no findings by the FCA or PRA that Staley acted with a lack of integrity nor any findings that he lacks fitness and propriety to continue to perform his role as Group CEO. Following the resolution of the FCA and PRA processes, the Barclays Board has determined to reduce the awarded value of Staley's variable compensation for 2016 by GBP 500,000 in respect of this matter. John McFarlane, the Chairman of Barclays, said: "The Board takes Barclays' culture and the integrity of its controls extremely seriously. The Group's whistleblowing processes are fundamental to ensuring that individuals feel comfortable raising concerns and are encouraged to do so. Having considered the findings of the FCA and PRA, the Board remains satisfied with its conclusions as set out in the Group's announcement of 10 April 2017. Accordingly, the Board has now confirmed its decision of April 2017 and has made a very significant adjustment to Jes's variable compensation on the recommendation of the Board Remuneration Committee. The Board is pleased that the FCA and PRA's investigations have concluded and are now behind us. The Board has reiterated its support for Jes, as have shareholders at last week's Annual General Meeting. As a business, we remain focused on executing our strategy and delivering greater returns for shareholders."
RXII IOVA

Hot Stocks

07:10 EDT RXi Pharmaceuticals and Iovance Biotherapeutics partner in cancer treatment - RXi Pharmaceuticals (RXII) has entered into a research collaboration with Iovance Biotherapeutics (IOVA) to evaluate the potential synergies with RXi's novel sd-rxRNA therapeutic compounds and Iovance's autologous cell therapy based on tumor-infiltrating lymphocytes for the use in the treatment of cancer. Synergies between RXi's self-delivering RNAi therapeutic platform and Iovance's TIL cell therapy approach will be explored preclinically.
SJW...

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07:08 EDT SJW Corp. sends shareholder letter regarding Connecticut Water merger - SJW (SJW) announced that its board will be sending a letter to its fellow SJW Group stockholders regarding SJW Group's Merger of Equals with Connecticut Water (CTWS). The letter reads: "We are excited about the progress we have made towards completing the merger of equals with Connecticut Water Service, Inc. ("Connecticut Water"), which is expected to close during the fourth quarter of 2018. We have already achieved significant momentum toward closing, including important federal anti-trust clearance, the filing of our applications with Connecticut and Maine public utility regulators, and progress in merger integration and transition planning. Our combined company will have the scale, geographic diversity, and financial strength to deliver what we believe will be immediate and long-term value to our stockholders. In the near future, you will be asked to vote at a Special Meeting of Stockholders to support our merger with Connecticut Water. This proposed combination of our two companies deserves your support. In addition to generating attractive value for stockholders, the merger will provide significant benefits to customers, all employees and the communities that we serve. As you might have heard, California Water Service Group ("Cal Water") has made an unsolicited, non-binding indication of interest to acquire our company for $68.25 per share in cash. Our Board of Directors carefully evaluated the non-binding indication and unanimously rejected it as neither a superior proposal nor reasonably likely to lead to a superior proposal. The Board also unanimously reaffirmed its commitment to the merger of equals with Connecticut Water. Now, Cal Water has embarked upon an expensive and ill-advised campaign to break up our merger of equals by asking you to vote against the transaction. Here are the facts. Our merger of equals with Connecticut Water offers meaningful opportunities to generate not only immediate shareholder value, but value well into the future through: Highly attractive earnings and growth accretion. Demonstrated track records by both companies of producing meaningful total shareholder return (share price appreciation + dividends). A strong balance sheet that enhances financial flexibility to increase growth. A solid credit profile that supports future share repurchase. Enhanced equity value from the formation of a leading pure play national water company. Continued investment in a company that cares about the environment for our communities, customers and employees. In contrast, Cal Water's inferior non-binding indication asks you to forgo these compelling opportunities. How? Under Cal Water's non-binding indication you would receive cash for your stock. That means you would no longer be an SJW Group stockholder and would have no opportunity to share in what we believe is a very bright future for our company. By comparison, the substantial ongoing benefits that will only be available to stockholders in our stock-for-stock merger of equals with Connecticut Water far outweigh Cal Water's non-binding indication. Since Cal Water's non-binding indication is cash-for-stock, it would be a taxable transaction for SJW Group stockholders.1 For many stockholders, once you pay taxes on the transaction, you will have less than $68.25 per share. In contrast, our merger of equals with Connecticut Water is anticipated to be not taxable. Here's an example: Assuming a stockholder has held SJW Group stock for 15 years, that stockholder would have acquired the shares for around $14 each. After paying up to 20 percent capital gains tax on the difference between Cal Water's $68.25 per share and the $14 per share cost basis, the stockholder could be left with only $57 or so in cash per share. Over the past 15 years, SJW Group stockholders have enjoyed a dividend that has increased every year. In fact, SJW Group has paid its stockholders a dividend for the last 74 consecutive years and has increased its annual dividend in each of the last 50 years. Given our dividend track record, we believe SJW Group stockholders are best served by the proposed merger with Connecticut Water rather than trying to find another company in which to invest the money they would have left after paying taxes on the Cal Water non-binding indication. Clearly, we believe the merger of equals with Connecticut Water remains the best choice for SJW Group and its stockholders. This is really a choice between a concrete value-creation opportunity represented by the merger of equals with Connecticut Water versus illusory value and foregone opportunities if you believe Cal Water. In the near future, we will be sending you a detailed proxy statement describing our proposed merger of equals with Connecticut Water along with a GREEN proxy card. You should read the material carefully. We urge you to vote on the GREEN card FOR all proposals related to our merger of equals with Connecticut Water. If you receive any materials from Cal Water, there is no need for action on your part. We recommend that you recycle the white cards and any materials you might receive from Cal Water."
DEST

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07:02 EDT Glass Lewis recommends shareholders vote for all Destination Maternity nominees - Destination Maternity announced that leading independent proxy advisory firm Glass, Lewis & Co. has recommended that Destination stockholders vote on the WHITE proxy card "FOR" the company's highly qualified slate of nominees: Barry Erdos, Melissa Payner-Gregor, Peter Longo and Pierre-Andre Mestre. Glass Lewis also recommended that stockholders do not vote for the four nominees proposed by a dissident group of stockholders led by Nathan G. Miller and Peter O'Malley at the Company's May 23rd, 2018 Annual Meeting of Stockholders.
XGTI

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06:41 EDT xG Technology collaborates with K2 Unmanned Systems - xG Technology announced the collaboration between IMT Vislink and K2 Unmanned Systems on the launch of K2's new law enforcement tactical drone, the Knight Hawk. IMT Vislink is providing interoperable, encrypted HD video downlink technology for use with the Knight Hawk, which is the first U.S.-designed and assembled law enforcement tactical UAV.
GSUM

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06:12 EDT Gridsum forms a special committee to evaluate non-binding proposal - Gridsum Holding announced that, in response to the non-binding proposal from FutureX Capital Limited received by the company's board on May 8, the board of Gridsum has formed a special committee comprised of the three independent directors Peter Andrew Schloss, Xudong Gao, and Thomas Melcher, to evaluate the Proposal and any other alternative transactions. Schloss has been appointed as Chairman of the Special Committee. No decisions have been made by the Special Committee with respect to the Company's response to the Proposal or any other alternative transaction. The Special Committee has not set a definitive timetable for the completion of its evaluation of the Proposal or any other alternative transaction, and does not currently intend to announce developments unless and in the event a definitive agreement has been reached. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that the transactions contemplated by the Proposal or any other alternative transaction will be approved or consummated.
UNVR

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06:06 EDT Univar expands agreement with BASF to include Care Chemicals - Univar announced the expansion of their agreement with BASF to include the Care Chemicals business for the U.S. Home, Industrial & Institutional, as well as Vehicle Care product lines.
AZN

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05:55 EDT AstraZeneca says Phase III trial in COPD did not meet primary endpoint - AstraZeneca announced top-line results from the Galathea Phase III trial for Fasenra in patients with moderate to very severe chronic obstructive pulmonary disease. The trial did not meet the primary endpoint of a statistically-significant reduction of exacerbations in patients with COPD. The safety and tolerability findings in Galathea were consistent with those observed in previous trials with Fasenra, the company said. It added, a full evaluation of the data is ongoing and the results will be submitted for presentation at a forthcoming medical meeting. Fasenra is currently approved as an add-on treatment for severe eosinophilic asthma in the U.S., Europe Japan and several other countries. The results of the Galathea trial do not impact the approved indication in severe eosinophilic asthma, AstraZeneca said. Dr. Sean Bohen, the company's Chief Medical Officer, added: "COPD is a debilitating disease with significant unmet need among patients whose disease remains uncontrolled despite treatment with existing inhaled therapies. We will now await the results of TERRANOVA and a full evaluation of both trials to determine next steps for Fasenra in COPD."
SYMC

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05:20 EDT Symantec opens internal investigation after concerns raised by former employee - Symantec last night in its earnings release announced that the Audit Committee of its board has commenced an internal investigation in connection with concerns raised by a former employee. The Audit Committee has retained independent counsel and other advisors to assist it in its investigation. The company has voluntarily contacted the SEC to advise it that an internal investigation is underway, and the Audit Committee intends to provide additional information to the SEC as the investigation proceeds. Symantec added, "The investigation is in its early stages and the Company cannot predict the duration or outcome of the investigation. The Company's financial results and guidance may be subject to change based on the outcome of the Audit Committee investigation. It is unlikely that the investigation will be completed in time for the Company to file its annual report on Form 10-K for the fiscal year ended March 30, 2018 in a timely manner."