Stockwinners Market Radar for May 15, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:26 EDT China Eastern Airlines reports April traffic up 15.0% - Reports passenger load factor 84.65% vs. 81.39% last year.

18:59 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Calumet Specialty Products (CLMT) up 12.6%... Boot Barn (BOOT) up 9.5%... PetIQ (PETQ) up 3.4%. ALSO HIGHER: Teva (TEVA) up 4.7% after increased Berkshire position... Micron (MU) up 0.5% after new stake by Druckenmiller's Duquesne Capital. LOWER: Verastem (VSTM) down 9.9% after equity offering... Calyxt (CLXT) down 6.1% after equity offering... Celyad (CYAD) down 3.3% after equity offering... Party City (PRTY) down 2.0% after equity offering for holders.

18:30 EDT Layne Christensen announces special meeting to approve merger with Granite - Layne Christensen announced that it has filed definitive proxy materials with the SEC and has commenced the mailing of these proxy materials to Layne stockholders in connection with the Special Meeting of Stockholders to be held to approve the previously announced merger transaction with Granite Construction Incorporated. The Special Meeting is scheduled to be held on June 13 at 9:00 a.m. Central Daylight Time, at 1800 Hughes Landing Boulevard, Ste. 700, The Woodlands, TX 77380. All stockholders of record of Layne's common stock as of the close of business on May 11 are entitled to vote their shares at the Special Meeting either in person or by proxy.

18:19 EDT Northrop Grumman raises quarterly dividend by 9% to $1.20 per share - The dividend is payable June 20, 2018, to shareholders of record as of the close of business June 4, 2018.

17:56 EDT Diamondback Energy director Houston sells 6,500 shares of company stock - David Houston, a director at Diamondback Energy, disclosed in a filing after the close that he had sold 6,500 shares of company stock at an average price of $125.76 per share on May 11. The total transaction value was $817,426 shares.

17:43 EDT Trian keeps P&G as top holding, cuts stakes in Mondelez, Wendy's - Nelson Peltz's Trian Fund Management disclosed in an SEC filing its holdings as of March 31, 2018. Trian increased its holdings in Sysco (SYY), Bank of New York Mellon (BK), and General Electric (GE) and decreased its holdings in Mondelez (MDLZ), Wendy's (WEN), and Pentair (PNR). The firm's top holdings as of March 31, 2018, in order of size, were Procter & Gamble (PG), Sysco, GE, BNY Mellon, and Mondelez.

17:27 EDT Packaging Corp. raises quarterly dividend 25% to 79c per share - Packaging Corporation of America announced that it intends to increase the quarterly cash dividend on its common stock to an annual payout of $3.16 per share from $2.52 per share, a 25% increase. The first quarterly dividend of 79c per share will be paid on July 13, 2018 to shareholders of record as of June 15, 2018. Future declaration of quarterly dividends and the establishment of future record and payment dates are subject to the final determination of PCA's board of directors.

17:23 EDT Paulson takes stake in Energen, exits Oasis position - John Paulson's Paulson & Co. disclosed in an SEC filing its holdings as of March 31, 2018. Paulson's eight new buys during the first quarter included, by size of position, Energen (EGN), XL Group (XL), Blackhawk (HAWK), and Goldcorp (GG). Paulson exited twelve positions during the quarter, including by size of previous position, Oasis (OAS), Dova (DOVA), Xcerra (XCRA), and Synergy (SGYP). Paulson increased its stake in twelve holdings, including by size of previous position, Viacom (VIAB), Rockwell Collins (COL), Aetna (AET), and Time Warner (TWX). Paulson reduced its stake in twelve holdings, including by size of previous position, Vistra (VST), T-Mobile (TMUS), Mylan (MYL), and Shire (SHPG). Paulson's top holdings as of March 31, in order of size, were SPRD Gold Shares, Mylan, Shire, and Valeant (VRX).

17:00 EDT Sprague Resources Chief Accounting Officer Moore retiring from position - Sprague Resources announced today that John Moore is retiring from his position as Vice President, Chief Accounting Officer of its General Partner, a position he has held since 2011. Mr. Moore will remain with Sprague until August 9 to assist with the transition of his responsibilities. "I would like to thank John for his twenty years of outstanding service at Sprague," said Gary Rinaldi, Chief Operating Officer and Chief Financial Officer. "John embodies Sprague's culture and values, and has been an instrumental part of our partnership's growth and success over the years, and will leave a lasting impression on our organization. We are deeply indebted to John and wish him happiness in the next phase of his life."

16:52 EDT Century Casinos chairman Haitzmann sells 100K shares of company stock - Erwin Haitzmann, the chairman of Century Casinos, disclosed in a filing out after the close that he had sold 100,000 shares of company stock between the dates of May 11 and May 15 at an average price of $8.50 per share for a total transaction value of 849,690.

16:47 EDT Sprague Resources appoints Kory Arthur as Chief Accounting Officer - Sprague Resources announced that John W. Moore is retiring from his position as Vice President, Chief Accounting Officer of its General Partner, a position he has held since 2011. Moore will remain with Sprague until August 9 to assist with the transition of his responsibilities. Sprague also announced that R.J. Kory Arthur will replace Moore as Vice President, Chief Accounting Officer of its General Partner. Arthur has been with Sprague for 10 years. His responsibilities have included Internal Audit, Investor Relations and Credit, in addition to serving as Assistant Treasurer. Prior to joining Sprague, Mr. Arthur worked in public accounting at Deloitte and he has held various senior financial and commercial management positions at Irving Oil and World Fuel Services.

16:44 EDT Anson Funds Management reports 9.9% passive stake in Stellar Biotechnologies

16:42 EDT Bayer CropScience to settle lawsuit filed by Calyxt - Calyxt (CLXT) announced that Bayer CropScience, LP (BAYRY) has agreed to settle a lawsuit brought by Calyxt in the Delaware Chancery Court. Under the settlement terms, the parties agreed that the 2013 License Agreement is terminated, that Bayer will destroy any technology, related product and confidential information covered by the License Agreement, and that Bayer will permanently abandon patent applications that are based on or include data related to the covered technology. This settlement confirms Bayer and its subsidiaries have no access to Calyxt technology or intellectual property.

16:37 EDT Raging Capital Management lowers stake in Ashford to 4.1% from 7.0% -

16:33 EDT II-VI opens facility for epitaxial wafer production - II-VI Incorporated announced the opening of its new high tech compound semiconductor material center in Champaign, Illinois. This represents a milestone in II-VI's ongoing investment in its manufacturing footprint to ramp up production capacity of high performance compound semiconductor epitaxial wafers. These products serve growing markets and are at the core of 3D sensing, optical networking, wireless communications and power electronics. Since the groundbreaking for this expansion, in November 2016, II-VI continues to recruit managers, engineers and technicians to join its experienced team.

16:28 EDT Berkshire Hathaway exits IBM, boosts stake in Teva - Warren Buffett's Berkshire Hathaway disclosed in an SEC filing its holdings as of March 31, 2018. Berkshire exited two positions during the quarter, IBM (IBM) and Graham Holdings (GHC). Berkshire increased its stake in six holdings, including by size of previous position, Apple (AAPL), Monsanto (MON), Teva (TEVA), and Delta (DAL). Berkshire reduced its stake in seven holdings, including by size of previous position, Wells Fargo (WFC), Phillips 66 (PSX), Charter (CHTR), and Verisk (VRSK). Berkshire's top holdings as of March 31, in order of size, were Apple, Wells Fargo, Bank of America (BAC), Kraft Heinz (KHC), and Coca-Cola (KO).

16:23 EDT Boot Barn up 6.2% afterhours following Q4 earnings beat and FY19 guidance

16:20 EDT Icahn takes stake in Newell Brands, exits AIG, Paypal positions - Carl Icahn's Icahn Capital disclosed in an SEC filing its holdings as of March 31, 2018. Icahn's one new buy during the first quarter was Newell Brands (NWL). Icahn exited two positions during the quarter, AIG (AIG) and Paypal (PYPL). Icahn reduced its stake in three holdings, including by size of previous position, Freeport-McMoRan (FCX), Manitowoc Company (MTW), and Xerox (XRX).

16:18 EDT Greenlight adds IAC, Tapestry in Q1, sells out of Chemours, J.C. Penny - David Einhorn's Greenlight Capital disclosed in a regulatory filing its holdings as of March 31, 2018. Greenlight made nine new buys during the first quarter, including, by size of position, IAC (IAC), Tapestry (TPR), Bloomin' Brands (BLMN), Abercrombie & Fitch (ANF) and PayPal (PYPL). The fund exited 17 positions during the quarter, including by size of previous position, Chemours (CC), J.C. Penney (JCP), Varex Imaging (VREX), Kohl's (KSS) and Best Buy (BBY). Greenlight increased its stake in three holdings, Ensco (ESV), Five Below (FIVE) and Brighthouse Financial (BHF). The fund reduced its stake in 18 holdings, including Apple (AAPL), General Motors (GM), AerCap (AER), Tempur Sealy (TPX) and Mylan (MYL). Greenlight's top holdings as of March 31, in order of size, were General Motors, Brighthouse, AerCap, Mylan and Green Brick Partners (GRBK).

16:17 EDT Tepper's Appaloosa exits Apple, buys Wells Fargo shares in Q1 - David Tepper's Appaloosa Management disclosed in a regulatory filing its holdings as of March 31, 2018. Appaloosa made 14 new buys during the first quarter, including, by size of position, Lam Research (LRCX), Wells Fargo (WFC), UBS (UBS) and Applied Materials (AMAT). The fund exited seven positions during the quarter, including by size of previous position, Apple (AAPL), Comcast (CMCSA), and Mohawk (MHK). Appaloosa increased its stake in 19 holdings, including by size, Micron (MU), MGM Resorts (MGM), Allergan (AGN), Centene (CNC) and Alphabet (GOOG). The fund reduced its stake in 18 holdings, including Bank of America (BAC), United Rentals (URI), and NRG Energy (NRG). Appaloosa's top holdings as of March 31, in order of size, were Micron, Facebook (FB), Alibaba (BABA), Allergan and Alphabet.

16:13 EDT Aileron Therapeutics announces resignation of CEO Joseph Yanchik III - Aileron Therapeutics announced that Joseph Yanchik III has resigned as president and CEO of the company and as a member of its board. Biopharma industry veteran John Longenecker, Ph.D. has been named interim CEO.

16:11 EDT Exponent announces two-for-one stock split - Exponent announced that its board has approved a two-for-one stock split of its common stock and a change in the number of authorized shares of common stock to 120M, each subject to stockholder approval of both the split and the change in authorized shares at the 2018 annual meeting of stockholders on May 31. If Exponent's stockholders approve the stock split and the change in authorized shares, each stockholder of record at the close of business on May 31 will receive one additional share of common stock for every outstanding share of common stock held on the record date. Upon completion of the stock split, Exponent will have approximately 52M shares of common stock outstanding.

16:09 EDT Biocept reports cash and equivalents $9.3M as of March 31 - Cash and cash equivalents as of March 31 were $9.3M compared with $2.1M as of December 31, 2017

16:07 EDT Agree Realty raises quarterly dividend 3.8% to 54c per share - The dividend is payable July 13 to shareholders of record at the close of business on June 29.

16:06 EDT Five Prime names Bryan Irving chief scientific officer - Five Prime Therapeutics announced the appointment of Bryan Irving, Ph.D., as Executive Vice President and Chief Scientific Officer. Irving joined Five Prime in August 2017 as the Vice President of Research.

15:18 EDT Tiger Global adds Mercadolibre, Twitter, exits Comcast, Etsy, Google - Chase Coleman's Tiger Global disclosed in an SEC filing its holdings as of March 31, 2018. Tiger's twelve new buys during the first quarter included, by size of position, Mercadolibre (MELI), Twitter (TWTR), Bilibili (BILI), Sunrun (RUN), and Sea Ltd (SE). Tiger exited eight positions during the quarter, including by size of previous position, Comcast (CMCSA), Etsy (ETSY), Alphabet (GOOG), Alphabet (GOOGL) and Charter (CHTR). Tiger increased its stake in twelve holdings, including by size of previous position, Amazon (AMZN), Microsoft (MSFT), Facebook (FB), TransDigm (TDG), and Netflix (NFLX). Tiger reduced its stake in five holdings, including by size of previous position, ServiceNow (NOW), FleetCor (FLT), eHi Car Services (EHIC), Booking Holdings (BKNG), and Mastercard (MA). Tiger's top holdings as of March 31, in order of size, were Amazon, JDcom (JD), Booking, and Microsft.

14:53 EDT Trinity Industries spin-off infrastructure company to be named Arcosa - Trinity Industries (TRN) announced the name of its future infrastructure company as Arcosa, Inc. following the separation of the two companies into independent, publicly-traded companies. The previously announced spin-off transaction remains on track to be completed in the fourth quarter of 2018 through a tax-free spin of Arcosa to Trinity stockholders, the company stated. Trinity has also announced the filing of the initial Form 10 with the U.S. Securities and Exchange Commission. The initial Form 10 contains a preliminary information statement providing details related to the business, strategy, and historical financial results of the new infrastructure company. Arcosa had $1.5B in 2017 revenues and $132M in 2017 operating profit. Following the spin-off transaction, Trinity's business portfolio will include railcar leasing and management services, railcar manufacturing, railcar maintenance, railcar aftermarket parts, tank car heads manufacturing, and the highway products business.

14:40 EDT Pfizer biosimilar to Epogen and Procrit approved by FDA - Pfizer announced the United States Food and Drug Administration approved RETACRIT, a biosimilar to Epogen and Procrit, for all indications of the reference product. RETACRIT is now the first and only biosimilar erythropoiesis-stimulating agent to be approved in the U.S., the company noted. "RETACRIT is expected to be available in the U.S. at a significant discount to the current wholesaler acquisition cost of Epogen and Procrit. WAC is not inclusive of discounts to payers, providers, distributors and other purchasing organizations. Pfizer has entered into an agreement with Vifor Pharma Inc. for the commercialization of RETACRIT in certain channels. RETACRIT is Pfizer's third approved biosimilar in the U.S. Pfizer's biosimilars pipeline consists of 11 distinct biosimilar molecules with six assets in mid-to-late stage clinical development," the company said.

14:14 EDT Citi reports April credit loss 2.80% vs. 2.78% last month - Reports April 30-plus day delinquency rate 1.53% vs. 1.61% last month.

13:59 EDT Square CEO says wants to learn more about blockchain

13:38 EDT Homebuilders crevice as jump in 10-year yield impacts mortgage rates - Shares of homebuilders are all lower in afternoon trading as the 10-year yield reached 3.07% and mortgage rates are pushing up to the all-important 5% range. MATERIAL COSTS. Adding to homebuilder headwinds are the threat of a trade war and the subsequent impact that will have on the materials that builders use including prices on lumber, copper and other materials needed in building homes. PRICE ACTION: Shares of Beazer Homes (BZH) and D.R. Horton (DHI) are leading the decline, down 5.1% and 6.5% respectively, while the whole group, including KB Home (KBH), Lennar (LEN), M.D.C. Holdings (MDC), Meritage Corporation (MTH), and Pulte Group (PHM), are all falling.

12:53 EDT Sabby Management reports 9.22% passive stake in CytRx

12:35 EDT Game On: Analysts boost EA price targets after earnings beat - Welcome to "Game On," The Fly's weekly recap of the stories powering up or beating down video game stocks. NEW RELEASES: This week's big release is an enhanced port of "Hyrule Warriors," a hack-and-slash action game based on the "Legend of Zelda" franchise, for the Nintendo Switch (NTDOY). The game, which was also published by Nintendo, launches on the Switch worldwide on May 18. EA EARNINGS: Last week, Electronic Arts (EA) reported better than expected results for the fourth quarter and provided an outlook for the first quarter and fiscal 2019. In addition, the company announced a new $2.4B stock repurchase program. Following the report, Piper Jaffray analyst Michael Olson backed an Overweight rating on the stock and raised his price target for the shares to $148 from $145, saying that EA's initial earnings guidance has understated final results by an average of 11% over the past three years. As such, Olson believes the game maker's initial FY19 guidance is likely conservative. In addition, analysts from Wedbush, Oppenheimer, and MKM Partners all raised their price targets on EA's stock following the quarterly report. HANGAR 13 EXPANSION: Before the market open, 2K and Hangar 13 announced the expansion of Hangar 13 in Brighton, U.K. The new office will be headed by U.K. game development veteran Nick Baynes, and will collaborate with the teams in Novato, California and the Czech Republic across all aspects of development on all future Hangar 13 projects. Hangar 13, a division of Take-Two's (TTWO) 2K Games, launched its debut title "Mafia III" in late 2016 to mixed reviews. CONSOLE WARRANTY UPDATES: After the FTC warned six major companies, including Microsoft (MSFT), Nintendo, and Sony (SNE), that some of their product warranties may be in violation of federal law, the console makers each responded by updating their warranty terms. Last Wednesday, Sony Interactive announced that it updated the terms of its Limited Warranties for PlayStation 4, PlayStation VR, PlayStation 3, and PlayStation Vita systems sold in the United States and Canada. The same day, Kotaku reported that Nintendo made changes to the warranty language on its site, now including a passage saying that the warranty only doesn't apply to damage caused by non-Nintendo products. Last Friday, Microsoft told GamesIndustry.biz that it had updated its warranties, saying they wanted to "clarify that having your device repaired by a third party, opening your console, or breaking the seal will not void the warranty."

12:28 EDT Sabby Management reports 9.99% passive stake in Stellar Biotechnologies

12:04 EDT American Express reports April write-off rate 2.3% vs. 2.2% last month - Reports April 30 days past due loans 1.3% vs. 1.4% last month.

11:59 EDT Analysts losing faith on CBS, Viacom merger amid lawsuit against parent company - This morning, Bernstein analyst Todd Juenger upgraded CBS (CBS) to Outperform and said he views the probability of a CBS-Viacom (VIAB) re-merger as close to zero for many years to come. His peer at Citi voiced a similar opinion and dropped his likelihood of a merger to 25% from 50%. This comes a day after CBS announced that it has filed a lawsuit alleging breaches of fiduciary duty by National Amusements, the parent of both companies which is pushing for a merger of the two. SUIT AGAINST NATIONAL AMUSEMENTS: Yesterday, CBS and the Special Committee of its Board of Directors announced that they filed a lawsuit in Delaware Court of Chancery alleging breaches of fiduciary duty by National Amusements, and seeking to prevent it from interfering with a special meeting of the Board of Directors, at which meeting the directors will consider declaring a dividend of shares of Class A common stock to all of the company's Class A and Class B stockholders, as is permitted under CBS's charter. The dividend, if issued, would dilute National Amusements' voting interest from approximately 79% to 17%. The dividend would not dilute the economic interests of any CBS stockholder. The Special Committee has taken this step because it believes it is in the best interests of all CBS stockholders, is necessary to protect stockholders' interests and would unlock significant stockholder value. If consummated, the dividend would enable the company to operate as an independent, non-controlled company and more fully evaluate strategic alternatives. BERNSTEIN SAYS BUY CBS: In a research note to investors, Bernstein's Juenger upgraded CBS to Outperform from Market Perform and raised his price target on the shares to $65 from $56, based on his view that the probability of a CBS-Viacom re-merger is close to zero, for many years to come. The analyst argued that there is further potential upside to CBS if they succeed in diluting National Amusements' voting stake, which would take away the control discount in the stock and/or add an M&A premium to the stock, as the potential would be opened for more strategic options, including the sale of the company. While Juenger remains very concerned about the health of TV networks, generally, and has plenty of specific concerns about CBS, he believes as a standalone entity it has the cleanest story in all of media. Meanwhile, Citi analyst Jason Bazinet dropped his likelihood of a CBS-Viacom merger to 25% from 50% after CBS filed a Delaware lawsuit asking for a restraining order to prevent Shari Redstone from interfering with a special CBS board meeting. The analyst raised his price target on CBS shares to $66 from $61, and lowered his price target on Viacom's stock to $29 from $30. WHAT'S NOTABLE: After CBS disclosed the interest of another would-be acquirer in court documents, Deadline reported, citing multiple sources, that Verizon (VZ) had been involved in high-level discussions and expressed interest in acquiring the media company before merger talks heated up with Viacom. However, during an interview with CNBC's David Faber, Verizon CEO Lower McAdam said that while Verizon has "looked at" legacy media assets but its focus is on digital. "We looked at legacy over the years and we made a decision to go digital and that's why we bought AOL and we bought Yahoo [...] We had the opportunity to go the linear model, either by purchasing satellite companies or purchasing content companies but that's not our strategy. Our strategy is to get digital content out there over the fastest pipe we can and at the lowest cost possible," McAdam said. PRICE ACTION: At midday, shares of CBS have gained about 1% to $54.15, while Viacom's class B stock has dropped about 1.5% to $28.30.

11:21 EDT Leggett & Platt raises quarterly dividend to 38c per share - Leggett & Platt's Board of Directors announced a dividend of 38c per share for the second quarter, an increase of 2c per share or 5.6% versus the dividend declared in 2Q17. The dividend will be paid on July 13, 2018 to shareholders of record on June 15, 2018.

11:18 EDT Boeing: WTO's ruling 'sends clear message,' disregard for rules 'not tolerated' - Boeing (BA) said in a statement: The World Trade Organization in its final decision found that the EU has failed to honor multiple previous rulings and has provided more than $22 billion of illegal subsidies to European aircraft maker Airbus (EADSY). After examining this case for more than a decade, the WTO has determined the EU must end its unfair business practices and remedy the ongoing harm caused by the illegal subsidies. This landmark ruling by the WTO Appellate Body is the final decision in this case, which was initiated in 2006. Today's decision ends the dispute and clears the way for the United States Trade Representative to seek remedies in the form of tariffs against European imports to the United States. The authorized tariffs are likely to total billions in duties per year, unless and until Airbus addresses the illegal subsidies it received from European governments for its most recently launched airplanes. It is anticipated that U.S. tariffs will be authorized up to the amount of annual harm this market-distorting tactic is causing. Tariffs could be scheduled as early as 2019. This is expected to be the largest-ever WTO authorization of retaliatory tariffs."Today's final ruling sends a clear message: disregard for the rules and illegal subsidies is not tolerated. The commercial success of products and services should be driven by their merits and not by market-distorting actions," said Dennis Muilenburg, Boeing chairman, president and CEO. "Now that the WTO has issued its final ruling, it is incumbent upon all parties to fully comply as such actions will ultimately produce the best outcomes for our customers and the mutual health of our industry. We appreciate the tireless efforts of the U.S. Trade Representative over the 14 years of this investigation to strengthen the global aerospace industry by ending illegal subsidies." The U.S. government, with Boeing's full support, has complied with WTO rulings stemming from the two cases the EU brought against the United States. One case has already ended in favor of the United States, and in the other, the vast majority of the allegations the EU made against the United States and Boeing were dismissed. Where there were narrow rulings against U.S. practices, they have been fully addressed to the WTO's satisfaction.

11:11 EDT Teva reports publication of Phase III HALO study data in JAMA - Teva announced the publication of data from the Phase III HALO study evaluating the efficacy, safety, and tolerability of both quarterly and monthly subcutaneous dosing regimens of fremanezumab for the prevention of episodic migraine. These pivotal data were published online by The Journal of the American Medical Association. The study evaluated the use of both quarterly and monthly dosing regimens of subcutaneous fremanezumab, compared with placebo in patients with EM who had previously failed multiple medication classes. The HALO EM trial met its primary endpoint demonstrating that fremanezumab significantly reduced monthly migraine days for both quarterly and monthly dosing regimens: The baseline mean number of monthly migraine days was 8.9, 9.2, and 9.1 days in the monthly dosing, quarterly dosing, and placebo groups, respectively. During the 12-week period after the first dose, fremanezumab treatment significantly reduced monthly migraine days to 4.6 days for monthly and 4.9 days for quarterly dosing compared with 5.9 days for placebo. Response rates of greater than or equal to 50% reduction in monthly average number of migraine days were also significantly greater in monthly and quarterly dosing compared with placebo. Additionally, the baseline mean number of monthly days of any acute headache medication use was 7.7, 7.9, and 7.7 days in the monthly, quarterly, and placebo groups, respectively. Fremanezumab significantly reduced monthly days of any acute headache medication use to 4.5 days for monthly and 4.6 days for quarterly dosing compared with 5.4 days for placebo. The multicenter, randomized, double-blind, placebo-controlled, parallel-group study enrolled 875 patients and consisted of a screening visit, 28-day pre-treatment period, 12-week treatment period, and final evaluation at week 12. The most common adverse events in patients treated with fremanezumab were injection site pain, induration, and erythema.

11:04 EDT Gilead announces FDA approval of once-daily oral Truvada - Gilead Sciences announced that the FDA has approved once-daily oral Truvada-in combination with safer sex practices-to reduce the risk of sexually acquired HIV-1 in at-risk adolescents. The safety and efficacy profile of Truvada for HIV prevention in uninfected adults, a strategy called pre-exposure prophylaxis, or PrEP, is well established, and Truvada for PrEP was first approved for use in adults in 2012. The addition of the adolescent indication is based on a study in HIV-negative individuals 15 to 17 years of age. In the United States, adolescents and young adults 13 to 24 years of age comprised 21 percent of all new infections in 2016, according to the U.S. Centers for Disease Control and Prevention, and 81 percent of those infections were among young men who have sex with men, or YMSM. Truvada for PrEP is now indicated in combination with safer sex practices to reduce the risk of sexually acquired HIV-1 in at-risk adults and adolescents weighing at least 35 kg. Individuals must have a negative HIV test immediately prior to initiating Truvada for PrEP. Truvada has a boxed warning in its product label regarding the risks of post treatment acute exacerbation of hepatitis B and the risk of drug resistance with the use of Truvada for PrEP in undiagnosed early HIV infection. Further important safety information, adverse drug reactions and prescribing considerations are included below.

10:59 EDT Piper downgrades Ford for not keeping up as robo-taxis promise fundamental shift - Piper Jaffray analyst Alexander Potter told investors "robo-taxis" should begin winning share from transportation network companies like Uber and Lyft starting in the early 2020s and could spark a fundamental shift in the way society functions. While pointing out that General Motors (GM) is his favorite way to invest in this theme, the analyst downgraded Ford (F) to Neutral as he believes the company may have advantages in the autonomous vehicle segment but is not a leader in this market. ROBO-TAXIS TO SPARK FUNDAMENTAL SHIFT: In a research note to investors, Piper Jaffray's Potter argued that "robo-taxis" will begin winning share from transportation network companies, or TNCs, like Uber and Lyft starting in the early 2020s. By the end of his 10-year forecast period, the analyst believes TNCs and "robo-taxis" will combine to generate gross revenue of more than $200B per year in the U.S. alone. Once per capita urban ridership approaches 1 ride per day, annual revenue could approach $1T, he contended. Potter believes that like smart-phones, "robo-taxis" could spark a fundamental shift in the way society functions. The analyst pointed out that he divides the "robo-taxi" market into two competitive categories, with vertically-integrated auto makers such as General Motors and Tesla (TSLA) battling against companies that prefer a "consortium" approach like Google (GOOG; GOOGL), Aptiv (APTV), Lyft, Uber, or BMW (BMWYY). There might not be room for more than a few winners from each category, he contended, adding that he sees General Motors as the best-positioned to win, with Aptiv also "worth a bid." GM VALUATION NOT REFLECTING 'ROBO-TAXI' BUSINESS: In a separate note, Piper Jaffray's Potter told investors that General Motors' "budding robo-taxi business" is wrongly being valued at zero. The analyst's city-by-city ride-hailing model indicates a market opportunity that could exceed $1T in the U.S. alone. GM's "valuation does not reflect this opportunity (not by a longshot)," Potter noted, adding that investors should be buying the stock. The analyst raised his price target on GM shares to $57 from $52, while reiterating an Overweight rating on the stock. FORD CUT TO NEUTRAL: Meanwhile, in conjunction with an analysis on the outlook for autonomous "robo-taxis," Potter downgraded Ford to Neutral from Overweight and lowered his price target on the shares to $12 from $14. The analyst argued that while the stock's valuation appears low, he is less convinced that Ford can find compelling revenue drivers to offset secular threats. With U.S. vehicle sales slowly eroding, investors are looking for more fundamental changes from Ford and from automotive companies in general, he contended. While the company may yet capture its share of the $1T market for autonomous rides, the analyst highlighted that Ford is not a leader in this market. With so many other "blocking-and-tackling" projects consuming bandwidth, Potter is not sure Ford is ready "to start blazing new trails in earnest." PRICE ACTION: In morning trading, shares of Ford are fractionally up to $11.24, while General Motor's stock has gained about 1% to $36.89.

10:47 EDT Verizon CEO says 'no interest' in buying a content company - Verizon has "looked at" legacy media assets but its focus is on digital, Lowell McAdam stated during an interview with CNBC's David Faber. Prior reports have indicated that Verizon (VZ) may have expressed interest in Fox (FOXA) and CBS (CBS).

10:42 EDT Sidus, BLR Partners urge Acacia Research shareholders to vote for board nominees - Sidus Investment Management and BLR Partners, collectively one of the largest stockholders of Acacia Research, with aggregate ownership of approximately 4.6% of the company's outstanding shares, sent a letter to stockholders in connection with their nomination of Clifford Press and Alfred Tobia Jr. to the Board of Directors at the upcoming 2018 Annual Meeting of Stockholders, scheduled to be held on June 14, 2018. The letter read, in part, "We collectively beneficially own approximately 4.6% of the outstanding shares of Acacia, making us one of the Company's largest stockholders. Despite our very significant ownership position, our repeated attempts to privately address our concerns with the Company in a constructive manner have been fruitless. Unfortunately, the incumbent Board and management team rebuffed our efforts, leaving us with no choice but to nominate two highly-qualified independent stockholder representatives, Alfred V. Tobia Jr. and Clifford Press, for election at the upcoming 2018 Annual Meeting. Our concerns with Acacia's governance and strategic direction have coincided with the appointment of G. Louis Graziadio, III as Executive Chairman of the Board on August 1, 2016 and the subsequent shift in Acacia's business model. In fact, since his appointment as Executive Chairman, Acacia's stock price has declined by approximately 41% while the NASDAQ Composite Index has appreciated by approximately 36%. Moreover, since Mr. Graziadio's long-term business associate, Frank E. Walsh, III, was appointed to the Board in April 2016, Acacia's corporate machinery has been manipulated such that 57% of the current directors have been hand-picked by the incumbent Board and never elected by stockholders. Even worse, it appears that the appointments of these unelected directors - James Sanders, Frank Walsh, Joseph Davis and Paul Falzone - are all directly linked to Mr. Graziadio. In a rare confluence of circumstances because of Acacia's classified Board structure, Mr. Graziadio and Mr. Walsh are up for election together at the upcoming 2018 Annual Meeting. This presents a unique opportunity for stockholders to right the ship at Acacia by returning the enclosed BLUE proxy card and electing Alfred V. Tobia Jr. and Clifford Press. In our view Mr. Press and Mr. Tobia would bring valuable corporate governance experience and technology investing expertise - and a stockholder-driven mindset, which the Board sorely needs if stockholder value is to be restored...he upcoming 2018 Annual Meeting scheduled for June 14, 2018 is a critical opportunity for Acacia stockholders to remove Messrs. Graziadio and Walsh from the Board and elect responsible representatives of their own choosing who have demonstrated expertise correcting governance failures. The time for change is now - We do not want any more money to be lost. Sidus urges all stockholders to vote the BLUE proxy card today! Only your latest dated proxy card counts."

10:36 EDT Sprint announces new markets for 5G rollout - Sprint said that 5G "will be making its way to even more major cities when it launches in the first half of 2019." Among the newly added markets to be the first to experience Sprint's fifth-generation network are the largest U.S. market, New York City; Arizona's largest city, Phoenix; and its hometown of Kansas City. These three additional cities join the list of Sprint's first 5G markets, which are Atlanta, Chicago, Dallas, Houston, Los Angeles, and Washington, D.C. Additional markets will be announced, Sprint added.

10:33 EDT CSX CFO says 'on target' for $5B in buybacks by 1Q19 - CSX CFO Frank Lonegro told the Bank of America Merill Lynch Transportation Conference that the company is seeing volume return that previously left due to service issues. He said the company is benefiting from the strong pricing environment and that the big structural changes to its network have been completed. He sees CSX setting operating records at the end of Q2 and into Q3. Longero said he sees domestic coal continuing a long-term structural decline. CSX's export coal volume could reach 40M tons in 2018, he added. The executive said CSX is "on target" for $5B in buybacks by 1Q19, says "a little bit ahead of pace."

10:23 EDT Visa says 100% behind shared payment button for ecommerce purchases - Visa (V) CEO Alfred Kelly says seeing continued progress in Europe, traction picking up on push payments and progress in contactless. Says U.S. growth will come from building acceptance with small merchants and wins of smaller transactions, ecommerce, B2B and large ticket. Says have to be better at educating consumers and merchants. Says large runway for growth in U.S. but it is a mature market. Says implemented no signature for merchants that are EMV compliant and to support EMV compliance. Says there are places where signature is still a smart thing to do, like tipping at restaurants and high-ticket situations. Says Visa Direct is contributing factor to debit growth in Q2. Says 100% behind shared payment button for ecommerce purchases. Says there is still a good deal of work to do before it comes to market. Says its hard to imagine that Amazon (AMZN) would ever force consumers into an option to pay as it it so customer-centric. Comments taken from the JPMorgan Global Technology, Media and Communications Conference.

10:11 EDT Cooperman's Omega exits Zynga in Q1, adds Thermo Fisher and UnitedHealth - Leon Cooperman's Omega Advisors disclosed in a regulatory filing its holdings as of March 31, 2018. Omega made 30 new buys during the first quarter, including, by size of position, Thermo Fisher (TMO), UnitedHealth (UNH), Andeavor (ANDV), Bristol-Myers Squibb (BMY) and Brunswick (BC).The fund exited 17 positions during the quarter, including by size of previous position, Zynga (ZNGA), MGM Resorts (MGM), Expedia (EXPE), Ball Corp. (BLL) and CBS (CBS). Omega increased its stake in 19 holdings, including by size, United Continental (UAL), Citi (C), Ocwen Financial (OCN), Ashland (ASH) and HRG Group (HRG). The fund reduced its stake in 26 holdings, including Shire (SHPG), Ally Financial (ALLY), Wells Fargo (WFC), Facebook (FB) and AerCap (AER). Omega's top holdings as of March 31, in order of size, were United Continental, Alphabet Class A (GOOGL), AMC Networks (AMCX), First Data (FDC) and Microsoft (MSFT).

10:02 EDT Cooperman's Omega Advisors sold entire Zynga stake in Q1

09:51 EDT Roche terminates Genentech collaboration agreement with NewLink Genetics - NewLink Genetics (NLNK) disclosed this morning that on May 10, it received notice from Genentech, a member of the Roche Group (RHHBY), that it is terminating the license and collaboration agreement between the parties dated October 14, 2014, in its entirety. Such termination will become effective 180 days after receipt of the notice. Genentech had previously terminated the Genentech agreement in part with respect to NLG919, but the agreement remained in force with respect to next generation IDO/TDO inhibitors identified through the research program conducted under the agreement. Upon termination of the agreement in its entirety, NewLink's rights in the compounds will revert to the company, and Genentech will grant to the company an exclusive, worldwide, royalty-bearing, sublicensable license, under certain Genentech intellectual property, to research, develop, manufacture and commercialize such compounds, and the company will be required to pay a low single-digit royalty to Genentech on any sales of next generation compounds, should the company proceed to develop and commercialize them. Genentech is also obligated to assign to NewLink, upon termination, certain data arising from research that Genentech conducted on the next generation compounds. These licenses, royalty obligations and assignments for next generation compounds are in addition to the licenses, royalty obligations and assignments for NLG919 that went into effect in December 2017 when the Genentech agreement terminated with respect to NLG919.

09:47 EDT Intel says shipping 10nm technology in low volumes - Intel chief engineering officer and EVP Murthy Renduchintala says company is in the middle of data-centric transformation strategy. Says company is looking to process, distribute and store data. Says has to compete in several different markets which is an important challenge the company has to face in the transformation. Says Intel is a product company, not focused on being a merchant foundry. Says shipping 10nm technology in low volumes. Says targeted pretty aggressive goals for 10nm, said maybe plans were "a bit more aggressive than ideal in hindsight". Says company knows what to fix and is going about fixing it. Says very comfortable with 14nm roadmap. Says 10nm technology will be ready as soon as economic conditions permit. Says deep in product development on 10nm. Says excited by product pipeline going forward in server roadmap. Says focused on moving data center products nearer to the beginning of the launch of a process. Comments taken from the JPMorgan Global Technology, Media and Communications Conference.

09:28 EDT Bank of America reports April default rate 2.96% vs. 2.81% last month - Reports 30-plus day delinquency rate 1.63% vs. 1.69% last month.

09:22 EDT Home Depot says sees FY18 gross margin up approximately 45 bps

09:19 EDT Home Depot says May SSS up double digits to date

09:13 EDT Home Depot says Q1 SSS flat in Northern U.S.

09:11 EDT ClearOne awarded new patent for audio distribution - ClearOne announced that it has been awarded a new patent relating to audio distribution over Local Area Networks by the US Patent and Trademark Office. The USPTO issued patent number 9,942,604 to ClearOne. This patent, entitled "Legacy Converter," among other things, describes a method to provide a connection between a LAN based audio distribution system and one or more legacy control networks. This patent enables devices based on popular legacy control networks such as Insteon, X10, and Zigbee to communicate with devices that support audio distribution and control over a LAN.

09:09 EDT Tyson Foods acquires poultry rendering, blending assets of American Proteins - Subsidiaries of Tyson Foods have agreed to buy the poultry rendering and blending assets of American Proteins, Inc. and AMPRO Products, Inc., the companies announced today. The acquisition is expected to enable Tyson Foods to recycle more animal products for feed, pet food and aquaculture, among other things, and expand its presence in the growing animal feed ingredient business. The agreement is subject to customary closing conditions, including regulatory approval. Rendering is an environmentally friendlier way to keep animal products out of landfills and potentially reduce greenhouse gas emissions. According to the National Renderers Association, rendering's contribution to carbon emission reduction in the U.S. and Canada is equivalent to removing more than 12 million cars from the road annually. The purchase price is approximately $850 million. Over the next 12 months, the business is expected to generate adjusted net sales of more than $550 million. Tyson expects to realize synergies over time driven by manufacturing efficiencies, mix optimization and distribution network consolidation.

09:06 EDT Anatara announces exclusive global license agreement with Zoetis - Anatara Lifesciences announced an exclusive licensing agreement with Zoetis for the worldwide development, manufacture, distribution and marketing of Detach as a non-antibiotic approach to aid in the control of diarrhoeal disease in livestock and in horses. Under the terms of the license agreement, Anatara has granted Zoetis exclusive rights to develop, manufacture, distribute and market Detach worldwide, including in Australia. The agreement follows an initial Exclusive Research Evaluation and License Option period, during which time Zoetis evaluated Detach for use as a non-antibiotic product in livestock species. The terms of the agreement include an upfront payment, milestone payments and royalties based on product sales. Intellectual property exclusively licensed to Zoetis under the agreement shall remain the sole property of Anatara. Exact details of the agreement remain confidential.

09:06 EDT Illumina acquires Edico Genome - Illumina announced that it acquired Edico Genome. Edico Genome's Dragen Bio-IT Platform uses field programmable gate array technology in conjunction with proprietary software algorithms to reduce both data footprint and time to results. Dragen can be run on premise, in the cloud, or in a hybrid mode, and is flexible and compatible for use with multiple cloud storage solutions and analysis pipelines. Edico Genome has built a strong base of NGS customers who have incorporated Dragen as a standard part of their sequencing workflow. The Dragen platform complements Illumina's sequencing portfolio and enables customers to benefit from reduced investment in compute infrastructure, and accelerated result times, to improve their overall efficiency and to allow greater emphasis on interpretation and reporting.

09:05 EDT GSE Systems awarded two contracts worth approximately $4M - GSE Systems announced receipt of two contracts from important Chinese customers. The two contracts will commence during Q2 2018, and together have a total value that exceeds $4M. The projects will continue over the next two years. Under one of the contracts, GSE will provide simulation technology and engineering services for delivery of a full scope high-fidelity nuclear power plant simulator. Under the other contract, GSE will provide its PSA-HD real-time severe accident modeling technology for the customer to apply to their Chinese designed CAP 1400 nuclear plant simulator at a nuclear power plant site.

09:02 EDT Evans Bancorp acquires business of Richardson & Stout Insurance - Evans Bancorp announced that its wholly owned insurance subsidiary, The Evans Agency, LLC, has acquired the business of Richardson & Stout Insurance of Wellsville, N.Y., effective July 1, 2018. The transaction will bring The Evans Agency's annualized premiums to over $100M. The agency will be known as Richardson & Stout Insurance, a division of The Evans Agency, and will remain in its current location. Terms of the deal were not announced.

09:01 EDT R.R. Donnelley partnering with Walletron to accelerate mobile wallet adoption - As part of a new multi-year agreement, R.R. Donnelley & Sons Company is now offering Walletron's mobile wallet billing, payment, and loyalty programs to Business Communications Solutions' large consumer-facing clients.

08:48 EDT The Stars Group welcomes Supreme Court ruling permitting sports betting - The Stars Group reacted to the decision by the United States Supreme Court to strike down, as an unconstitutional exercise of federal power, the nearly 30-year ban on sports betting under the Professional and Amateur Sports Protection Act, or PASPA. Congress enacted PASPA in 1992, which resulted in all states, other than Nevada and three others, being prohibited from authorizing sports betting. "The decision by the Supreme Court is an important step forward in the regulation of sports betting in the U.S.," said the company. The decision follows The Stars Group's recent announcement of its agreement to acquire Sky Betting & Gaming, the fastest growing established sports betting operator in the U.K.. The acquisition of Sky Betting & Gaming, which is expected to close in the Q3 will create the world's largest publicly listed online gaming company.

08:45 EDT Arcadia Biosciences names former ConAgra exec Albert Bolles to board - Arcadia Biosciences (RKDA) announced that Albert D. Bolles, Ph.D., has joined its board of directors. Bolles is the former executive vice president, chief technology and operations officer of ConAgra Foods (CAG).

08:39 EDT Aspen Insurance submits application for new insurance subsidiary - Aspen Insurance announced today that it has submitted an application to the Central Bank of Ireland for authorization of a new insurance subsidiary in Dublin, Republic of Ireland. This new Irish subsidiary, Aspen Insurance Ireland DAC, will ensure that Aspen can continue serving partners and clients in the European Economic Area, or EEA, following the United Kingdom's exit from the European Union. Aspen will also utilize the proposed Lloyd's Belgium Subsidiary through Aspen Managing Agency Limited. Subject to regulatory approval, it is anticipated that Aspen Ireland will be operational by the first quarter of 2019. Classes of insurance business currently planned to be written via Aspen Ireland include Casualty, Credit and Political Risk, Accident & Health, and Commercial Property. Existing UK and non-EEA policies not impacted by Brexit will continue to be written within Aspen Insurance UK Limited. Aspen does not believe that its reinsurance business will be affected by Brexit, subject to political agreements regarding Solvency II equivalence.

08:36 EDT Gilead's kite leases facility in the Netherlands to engineer cell therapies - Kite, a Gilead (GILD) company, announced it has leased a new facility in the Netherlands to engineer cell therapies in Europe. The 117,000 square-foot site in Hoofddorp will enable Kite to efficiently manufacture and deliver its cell therapies to people living with cancer in Europe and will provide more than 300 new jobs when fully operational in 2020. The facility will engineer and produce innovative cell therapies, including axicabtagene ciloleucel, a chimeric antigen receptor T cell, or CAR T, therapy that is currently under review by the European Medicines Agency and which is approved in the United States as Yescarta. In addition to the Netherlands facility, Kite has recently purchased a new building in Santa Monica from Astellas Pharma (ALPMY) that will be used for cell therapy research, development and the expansion of clinical manufacturing capabilities, and has leased a 26,000 square-foot facility in Gaithersburg, Maryland. The Maryland site will support the work of a new Cooperative Research and Development Agreement, or CRADA, with the National Cancer Institute to develop adoptive cell therapies targeting patient-specific tumor neoantigens. Neoantigens are mutations found on the surface of cancer cells that are unique to each person and tumor, offering the potential for more targeted antitumor activity.

08:34 EDT Amneal launches Phytonadione Tablets - Amneal Pharmaceuticals has launched Phytonadione Tablets, USP, 5 mg, the first AB-rated therapeutic equivalent for Mephyton. The product is available in 100-ct bottles and is now shipping to wholesalers, distributors and direct to the trade. Annual U.S. sales of Mephyton were $106M according to March IQVIA market data.

08:33 EDT Aviat Networks announces $7.5M stock repurchase program - Aviat Networks announced that its Board of Directors has authorized a stock repurchase program. Under the program, Aviat Networks may purchase up to $7.5M of its outstanding common stock beginning May 17, 2018. The Company may choose to suspend or discontinue the repurchase program at any time. The repurchase program does not obligate the Company to purchase any particular number of shares.

08:29 EDT AT&T CEO says should grow post-paid phone subscribers this year

08:25 EDT Affimed N.V. reports Q1 EPS (19c), consensus (18c) - Reports Q1 revenue $399,000, consensus $470,000.

08:21 EDT Microchip announces antitrust clearance in China, others or Microsemi deal - Microchip Technology (MCHP) announced, in connection with its pending acquisition of Microsemi Corporation (MSCC), that it has obtained antitrust clearances from China's Ministry of Commerce, the Japan Fair Trade Commission, the Philippine Competition Commission, the Austrian Federal Competition Authority, and the German Federal Cartel Office. Completion of the merger also remains subject to certain other closing conditions, including approval by the Taiwan Fair Trade Commission and Microsemi stockholders. Assuming the timely receipt of the remaining regulatory approvals and the satisfaction of the other closing conditions, Microchip anticipates that the merger will be completed in late May/early June 2018.

08:16 EDT Synacor brings Zimbra X email, collaboration platform to blockchain - Synacor announced that Zimbra X, the new email-as-a-service version of its Zimbra email and collaboration software platform, is now in beta on the EOSIO software protocol, and is planned to roll out to hundreds of thousands of EOSIO community members in the coming months.

08:14 EDT Atossa Genetics receives 'positive' interim safety review on Endoxifen study - Atossa Genetics announced that it has received a second positive interim safety review on its Phase 1 study of topical Endoxifen in men, which is being developed to address gynecomastia, a common condition in patients being treated for prostate cancer. The Independent Safety Committee reviewed the blinded data generated from the second group in the study and concluded that the study may advance to the final dosing level.

08:11 EDT FIS extends its commitment to Minor League Baseball - FIS announced that it has extended its commitment to Minor League Baseball, or MiLB, through 2022. With technology as its foundation, the relationship supports MiLB's fan-centric approach to drive engagement with its 111M self-designated fans, according to a 2017 ESPN Sports Poll. FIS announced a relationship with the league as its official payments and loyalty technology provider prior to the 2017 season. The agreement serves to integrate FIS' advanced payment, loyalty and other solutions within the league's "Ballparks of the Future" initiative. FIS' technology powers a range of enhanced experiences for fans at MiLB ballparks, from simplifying payment transactions to driving new fan loyalty programs. For MiLB teams, FIS technology also streamlines accounting and management of travel expenses, simplifies business expense management through real-time, prepaid technology and provides other advanced capabilities. Since announcing the relationship last year, more than 20 teams have begun to leverage FIS products and services leading to greater efficiency and overall fan engagement. As an extension of the relationship and to showcase its products and services, FIS created and launched an "Innovation Dugout" where it will showcase its innovative technologies and business solutions for the "Ballparks of the Future" at Bragan Field at the Baseball Grounds of Jacksonville.

08:09 EDT Icon, Saama Technologies announce partnership to accelerate RWE use - Saama Technologies and Icon have partnered to accelerate the use of real world evidence, or RWE, across the product lifecycle and drive mission critical decisions for medical affairs, reimbursement and commercialization functions. Biopharmaceutical, medical device and diagnostic companies are seeking comprehensive RWE technology solutions that can support an array of RWE applications across the enterprise. Through this partnership, Icon brings real world data, or RWD, strategy and platform deployment to complement Saama's experience in utilizing applications such as Natural Language Processing, Machine Learning and advanced Data Visualization tools. The volume of healthcare data continues to grow exponentially and is forecasted to hit more than two zettabytes by 2020. This increase in the availability of and access to anonymized electronic patient records requires new approaches for closing the medical product development and commercialization cycle. Through this partnership, Icon becomes part of Saama's recently announced life science ecosystem, which combines the unparalleled benefits of Saama's Life Science Analytics Cloud with the specific strengths of clinical or real-world data providers.

08:06 EDT SandRidge Energy recommends shareholders to vote "FOR" all five directors - SandRidge Energy announced that it has sent a letter to shareholders regarding the Company's 2018 Annual Meeting of Shareholders to be held on June 19. The Company also announced that it has filed definitive proxy materials with the SEC in connection with the Annual Meeting, in which SandRidge shareholders of record as of the close of business on April 20 will be entitled to vote. The SandRidge Board of Directors strongly recommends that shareholders vote on the WHITE proxy card "FOR" all five of SandRidge's highly-qualified directors: Sylvia K. Barnes, Kenneth H. Beer, Michael L. Bennett, William M. Griffin and David J. Kornder. The Board also recommends that shareholders vote "FOR" the addition of only two independent directors proposed by Icahn Capital. The Board has already carefully vetted and offered to appoint John J. "Jack" Lipinski and Randolph C. Read as directors in connection with a settlement proposal that Icahn Capital refused. The Board also recommends shareholders vote "FOR" the ratification of the continuation of the short-term shareholder rights plan through November 26 to protect shareholders from unfair, abusive or coercive takeover strategies, including acquisition of control without payment of an adequate premium, while the Board continues its review of strategic alternatives to maximize shareholder value.

08:05 EDT Dare Bioscience announces trial initiation for Ovaprene - Dare Bioscience announced the initiation of its post-coital test clinical trial for its lead product candidate Ovaprene, a monthly non-hormonal contraceptive vaginal ring. This clinical trial is designed to assess general safety, acceptability, and effectiveness in preventing progressively motile sperm from reaching the cervical canal following intercourse. The study is enrolling 50 couples, with the woman to be evaluated over the course of five menstrual cycles, with a target of having at least 25 women complete a total of 21 visits. Each woman's cervical mucus will be measured at several points during the study, including a baseline measurement at menstrual cycle 1 that excludes the use of any product. Subsequent cycles and visits will include the use of a diaphragm and the Ovaprene non-hormonal vaginal ring. Data from the study is expected to be available in the second half of 2019. If there is demonstration of feasibility in the PCT clinical trial, the company intends to prepare and file an Investigational Device Exemption with the FDA to commence a pivotal clinical trial to support marketing approvals of Ovaprene in the United States, Europe and other countries worldwide.

08:04 EDT Canadian Solar's solar portfolio in Karnataka reaches commercial operation - Canadian Solar announced that its 35 MWp commercial and industrial solar portfolio in the state of Karnataka, India reached commercial operation in March. The 35 MWp project is located in Bagalkot District of Karnataka and is expected to generate approximately 54,000 MWh of clean solar power every year. Canadian Solar has completed its financing of $16.0M for the C&I portfolio with Tata Cleantech Capital Limited.

08:03 EDT Pitney Bowes reaffirms global strategic alliance with HP - Pitney Bowes (PBI) reaffirmed that its long-standing global strategic alliance between Pitney Bowes Document Messaging Technologies and HP (HPQ) will remain in place following the sale of DMT to Platinum Equity. This strategic alliance, which has been in place since 2009, will allow DMT to continue to deliver end-to-end solutions that integrate print and mail for high impact customer communications.

07:37 EDT Neovasc's board urges shareholders to vote "FOR" reverse stock split - Neovasc announced that its management and board of directors urge the Company's shareholders of record to vote "FOR" the proposal authorizing the Board to effect a reverse stock split. "Remaining on the Nasdaq Capital Market is a critical piece of the Company's turnaround strategy," commented Fred Colen, Neovasc's President and CEO. "Without reaching a minimum bid price above $1.00 for a minimum of 10 consecutive days before July 2 the Company may be delisted from the Nasdaq, which would have serious consequences for the Company as further outlined in this press release. In short, a vote against a reverse stock split will decrease liquidity for existing shareholders, increase the cost of capital for the Company, and significantly worsen the terms of the last financing," continued Colen. In the proxy filed on SEDAR on May 7, 2018 for the annual general and special meeting of shareholders on June 4, 2018, there is a proposal for shareholders to provide the Board with the authority to effect a reverse stock split of up to 1-for-100 at a time determined at the Board's discretion, if at all.

07:34 EDT PAR Technology's RRC is awarded $19.8M Navy contract - PAR Technology announced that its subsidiary, Rome Research Corporation, or RRC, was awarded a U.S. Navy SeaPort-e task order to provide telecommunications operations and maintenance services at the Global Information Grid facility at Camp Lemonnier in Djibouti, Africa. The task order value is approximately $19.8M over a 12-month base period of performance and four one-year options, inclusive of the FAR 52.217-8 Option to Extend Services. RRC operates communications facilities for the United States Department of Defense and other agencies throughout the world.

07:32 EDT Imax signs multi-theatre deal with VOX Cinemas in Saudi Arabia - Following the news that Saudi Arabia's Ministry of Culture and Information will be opening up the Kingdom to movie theatres in 2018 for the first time in 35 years, IMAX and VOX Cinemas announced a sales agreement for a minimum of four new IMAX theatres in Saudi Arabia. Four theatres will be added to new multiplexes in Riyadh and other prime locations at some of the Kingdom's most prominent shopping malls including those owned by VOX Cinemas' parent company, Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.

07:16 EDT Synchrony reports April gross charge-off rate 5.64% vs. 4.81% last month - Reports April 30-plus day delinquencies 2.84% vs. 3.03% last month.

07:14 EDT JPMorgan reports April net credit losses 2.63% vs. 2.65% last month - Reports April 30-plus day delinquencies 1.17% vs. 1.22% last month.

07:04 EDT Hanesbrands names Jonathan Ram to lead global activewear businesses - Jonathan Ram will join Hanes to lead its global activewear businesses, including Champion, as group president, global activewear, effective May 21. Ram joins Hanes from New Balance Athletics, Inc., where he served as executive vice president North America and previously served as a managing director overseeing New Balance's Europe, Middle East, Africa and Mexico businesses. Ram succeeds John T. Marsh, who has decided to take a professional three-year sabbatical to serve a prestigious overseas volunteer mission for his church.

07:01 EDT Anylam names Colleen Reitan to board of directors - Alnylam Pharmaceuticals the appointment of Colleen Reitan to Alnylam's Board of Directors, effective June 1, 2018. Ms. Reitan was the prior President of Plan Operations of Health Care Service Corporation, the largest customer-owned health insurer in the United States and an independent licensee of Blue Cross and Blue Shield Association.

06:55 EDT Discover reports April charge-off rate 3.2% vs. 3.3% in prior month - Reports April 30-plus day delinquency rate 2.3% vs. 2.3% in prior month.

06:49 EDT Eli Lilly Phase 3 study of galcanezumab met primary endpoint - Eli Lilly announced that galcanezumab met its primary endpoint in a Phase 3 study of patients with episodic cluster headache, demonstrating statistically significant differences in the reduction of weekly cluster headache attacks compared to placebo across weeks one to three of the two-month, double-blind treatment period. A statistically significantly greater percentage of patients treated with galcanezumab also achieved at least a 50 percent reduction in weekly cluster headache attacks compared to placebo at Week 3, the gated secondary endpoint. The observed safety and tolerability profile was consistent with previous studies that evaluated galcanezumab for the prevention of migraine. In this study, 8 percent of patients treated with galcanezumab discontinued treatment during the study compared to 21 percent of patients treated with placebo. Four percent of patients treated with galcanezumab discontinued treatment during the study due to adverse events compared to 2 percent of patients treated with placebo. Discontinuations due to lack of efficacy occurred in 2 percent of patients treated with galcanezumab, compared to 14 percent of patients treated with placebo.

06:35 EDT Azure Power surpasses 1 GW of operating solar capacity - Azure Power announced that its portfolio has surpassed 1 GW of operating solar capacity, making it one of the largest solar power companies in the country. This milestone was achieved with the company's recent commissioning of a 50 MW project in Andhra Pradesh. The project has been setup in Ananthapuramu Solar Park across approximately 250 acres. Azure Power will supply power for 25 years to Solar Energy Corporation of India, a Government of India enterprise and a company with a AA+ domestic debt rating by ICRA, a Moody's company. The levelized tariff is INR 4.79 (~US 7.5c) per kWh, which includes Viability Gap Funding.

06:32 EDT Aerie Pharmaceuticals submits NDA to FDA for Roclatan - Aerie Pharmaceuticals announced the submission of its New Drug Application to the U.S. FDA for Roclatan 0.02%/0.005%. Roclatan is a once-daily eye drop designed to reduce intraocular pressure in patients with glaucoma or ocular hypertension. It is a fixed dose combination of Aerie's Rhopressa, which is currently available in the United States, and the widely-prescribed PGA latanoprost. Roclatan successfully achieved its primary efficacy endpoint in two Phase 3 registration trials, named Mercury 1 and Mercury 2, and also achieved successful 12-month safety and efficacy results in Mercury 1, the results of which are included in the NDA submission. The expected FDA review period for Roclatan NDA is only ten months instead of twelve months because Aerie's submission is filed under Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act, since Roclatan is a fixed dose combination of two previously approved drugs in the United States.

06:19 EDT Goodrich Petroleum to sell portion of Tuscaloosa Marine Shale position for $3.3M - The company has entered into an agreement, subject to definitive documentation, to sell a portion of its interest in the western area of the company's Tuscaloosa Marine Shale acreage position in East and West Feliciana Parishes, Louisiana for $3.3M The transaction is expected to close on or before June 15, 2018. The company has reached an agreement, subject to definitive documentation, with respect to an acreage swap on a portion of the company's leasehold in the Bethany-Longstreet Field of Caddo Parish, Louisiana, which would add ten 10,000 foot laterals to its operated inventory. In addition, the company has reached an agreement, subject to definitive documentation, to amend a gas gathering agreement with the midstream provider on what has historically been its non-operated acreage in the Bethany-Longstreet Field which will reduce the gathering fees from 53c- 75c per Mcf to a range of 26c-60c per Mcf, dependent on volumes. This amended gathering agreement is expected to materially reduce future gathering and transportation expense as the company grows production volumes from development of its Haynesville Shale acreage.

06:10 EDT Capital One reports April net charge-offs 5.04% - Reports April 30-plus day performing delinquencies 3.33%.

06:08 EDT Apple's App Store redesign improved app downloads, Sensor Tower says - New Sensor Tower Store Intelligence data reveals that the means by which iOS users discover games and apps vary drastically, and that browsing the App Store has become more important to app discovery following the introduction of iOS 11 in fall 2017. "Our analysis reveals that Browse downloads have increased since the new App Store's launch. Approximately 10 percent of downloads came from Browse during the four months prior to the iOS 11 App Store release. Following the the launch, the proportion of downloads from Browse rose to more than 15 percent. Even though the boost in Browse downloads appears to have trailed off some after the initial excitement surrounding the new App Store, Browse downloads have remained above the average pre-iOS 11 level into early 2018." Reference Link

06:07 EDT Home Depot adopted ASU No. 2014-09 pertaining to revenue recognition in Q1 - During Q1, Home Depot adopted ASU No. 2014-09, which pertains to revenue recognition. The adoption of this standard will not materially impact the Company's consolidated financial statements or related disclosures. Under ASU No. 2014-09, the Company has changed the presentation of certain expenses and cost reimbursements associated with its private label credit card program, certain expenses related to the sale of gift cards to customers, and gift card breakage income. The Company also has changed its recognition of gift card breakage income to be recognized proportionately as redemption occurs, rather than based on historical redemption patterns. The Company has adopted this standard on a modified retrospective basis. In accordance therewith, financial information prior to fiscal 2018 will not be recast. The consolidated statement of earnings and balance sheet for the first quarter of fiscal 2018 reflect the effect of this accounting policy adoption. The impact of adoption was an increase of $33 million to net sales, a decrease of $98 million to cost of sales, and a corresponding increase of $131 million to operating expenses for the first quarter of fiscal 2018. There is no impact from the Company's adoption on operating income, net earnings or earnings per share. The balance sheet reflects the cumulative impact of adoption using the modified retrospective method as well as the impact of recording the sales return allowance on a gross basis rather than as a net liability.

06:05 EDT Vodafone says CEO Vittorio Colao to be succeeded by CFO Nick Read on Oct. 1 - The Vodafone Group Plc Board announced the succession plan for the role of Group CEO. Effective October 1, Vittorio Colao will be succeeded by Group CFO Nick Read. At the date of the Group's Annual General Meeting on 27 July 2018, Deputy CFO Margherita Della Valle will succeed Nick Read as Group CFO and will join the Board, and Nick Read will become Group Chief Executive-Designate.Vittorio Colao was appointed Group CEO in July 2008. The Vodafone Group Plc Board conducted a succession planning process that involved the detailed assessment of potential internal and external candidates.

06:00 EDT Tesla's Musk: 'Amazing' that Model S hit truck at 60mph, driver only broke ankle - Tesla CEO Elon Musk said in a tweet: "It's super messed up that a Tesla crash resulting in a broken ankle is front page news and the ~40,000 people who died in US auto accidents alone in past year get almost no coverage... What's actually amazing about this accident is that a Model S hit a fire truck at 60mph and the driver only broke an ankle. An impact at that speed usually results in severe injury or death." Reference Link

05:34 EDT Mountain Province Diamonds appoints Stuart Brown as CEO - Mountain Province Diamonds announces Stuart Brown's appointment as the new President and CEO with effect from July 1, 2018. Since September 2013, Mr. Brown has been the CEO of Firestone Diamonds.

04:54 EDT Vonage announces resignation of CMO Edward Gilvar - Vonage disclosed last night that on May 14, the company's Chief Marketing Officer, Edward Gilvar, announced that, as a result of the company's "progress and after consideration of his personal goals," he was leaving the company effective June 1, to "pursue his passion for consumer marketing where he focused the first 20 years of his career."