Stockwinners Market Radar for May 30, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:33 EDT California Water Service requests rate decrease due to new tax law - California Water Service submitted a filing with the California Public Utilities Commission yesterday to decrease revenue needed in its service areas by almost $18 million, due to changes in federal tax laws and CPUC-authorized capital equity and debt financing costs. If approved as submitted, new rates reflecting the lower tax rates and financing costs will be effective July 1, 2018. Since the 2018 Tax Cuts and Jobs Act was enacted in December 2017, Cal Water has been tracking the effect of the new corporate tax rate and other tax law changes to deductions and deferred income taxes. The July 1 rate changes will reflect a decrease in the corporate tax rate from 35% to 21% as well as elimination of the Domestic Production Activities Deduction. In a later filing, Cal Water will apply a credit to customer bills to reflect the impact of all federal tax changes from Jan. 1 to June 30, 2018. Additionally, earlier this year, the CPUC authorized lower capital financing costs for Cal Water for Jan. 1, 2018, through Dec. 31, 2020. The July 1 rates will reflect the lower authorized return on rate base of 7.48%, based on a 9.20% return on equity and 5.51% cost of debt. Similarly, in a later filing, Cal Water will apply a credit to customer bills to reflect the lower authorized financing costs from Jan. 1 to June 30, 2018.

19:11 EDT Align Technology CFO sells 2,405 common shares - In a regulatory filing, Align Technology CFO John Morici disclosed the sale of 2,405 common shares of the company at a price of $331.3545 per share.

18:47 EDT TRI Pointe CFO sells 100,000 common shares - In a regulatory filing, TRI Pointe Group CFO and Treasurer Michael D. Grubbs disclosed the sale of 100,000 common shares of the company in two transactions. The first transaction of 48,436 shares was sold at $17.62 per share while the second trasnaction of 51,564 was sold at the same per share price.

18:34 EDT Trimble aims for $4.0B-$4.5B revenue by FY21 - The target assumes 9%-12% overall growth, with 6%-9% organic and 3% through acquisitions. Comments from Trimble's Investor Day slides earlier today. Reference Link

18:12 EDT Akers Biosciences granted 180-day extension to meet Nasdaq listing requirement - Akers Biosciences announced that, on May 30, the Nasdaq Listing Qualifications Department granted the company a 180-day extension to meet the requirement of a minimum $1.00 per share closing bid price of its common stock for 10 consecutive business days for continued inclusion on the Nasdaq Capital Market. The company received notice from Nasdaq on November 28, 2017, that it was not in compliance with the Bid Price Requirements for its common stock. If at any time during the second 180 calendar day period the closing bid price of the company's common stock, for the required minimum 10 consecutive business day period, meets the Bid Price Requirement and all other initial listing standards, this matter will be closed.

18:06 EDT Solus 'pleased' to have resolved matter with GSO over Hovnanian - Solus Alternative Asset Management LP issued the following statement regarding the decision to settle its dispute over the recent refinancing transaction involving GSO Capital Partners LP, the credit arm of Blackstone (BX), and Hovnanian Enterprises (HOV). "We are very pleased to have resolved this matter. Solus looks forward to working alongside other market participants, regulators, and ISDA to improve existing CDS documentation and enhance the integrity of the credit derivatives market." The terms of the settlement reached by Solus and GSO included an agreement by GSO to consent to the indenture amendments necessary to allow Hovnanian to make the interest payment that it did not make to its own subsidiary on May 1, 2018 prior to the expiration of the grace period, which Hovnanian has now done. GSO has also agreed not to support any future failure to pay events affecting Hovnanian. Other terms of the agreement were not disclosed.

18:06 EDT AT&T CFO backs his forecast of $1.5B in cost synergies from Time Warner deal - John Stephens, senior vice president and chief financial officer of AT&T*, provided an update to investors while speaking at the Cowen Technology, Media and Telecom Conference. Stephens said the company expects a ruling on June 12 in the suit brought against AT&T (T) and Time Warner (TWX) by the U.S. Department of Justice and stands ready to close if the court rules in its favor. He reiterated that the company expects annualized cost synergies of $1.5 billion by the end of the third year after close. Stephens also discussed AT&T's other priorities for this year, including developing its next-generation streaming video platform and targeted advertising capabilities. AT&T expects to build on its successful history of managing technology transitions as the video industry moves from linear to over-the-top (OTT) services. He said the company expects to expand its video offerings to better address each customer segment and grow its total video subscriber base. This includes AT&T's top-of-the-line services DIRECTV and U-verse and OTT service DIRECTV NOW. Following the close of the Time Warner deal, the company plans to introduce AT&T Watch, a skinny package without local programming or sports-only channels. By the end of the year, the company also expects to launch a premium streaming experience that will compete with traditional linear TV products for in-home use. The product will be app-based with a small device that connects to customers' TVs and home broadband. This service will offer the same content as linear TV with a great user experience and lower price points. Stephens also said advertising is a significant part of the company's video strategy and noted the vast ad inventory AT&T will have across its platforms following the Time Warner acquisition. The company will be able to offer more targeted advertising using data from its broad base of mobile and video subscribers, as well as subscribers to other properties like Otter Media, HBO and Turner Digital. Stephens also discussed the wireless competitive environment and the company's FirstNet deployment. AT&T continues to expect wireless service revenue to return to growth in 2018 on a comparable basis. Stephens said the FirstNet deployment is off to a strong start. FirstNet is the first-ever nationwide public safety broadband network for America's first responders. The company has launched the first and only dedicated network core for first responders and expects FirstNet capital spending of $2 billion this year. In addition to its work with FirstNet, Stephens said AT&T expects to be the first U.S. company to launch standards-based mobile 5G service in 2018. The company also conducted 5G fixed wireless trials and has seen gigabit speeds on millimeter wave spectrum. The company also plans to reach 500 markets with 5G Evolution technology by the end of 2018. With 5G Evolution, the company is seeing speeds at two times of standard LTE in many areas.

17:49 EDT LivaNova comments on reconsideration of its coverage for VNS Therapy - LivaNova PLC issued a statement in regard to the U.S. Centers for Medicare & Medicaid Services' publication of a tracking sheet to reconsider its National Coverage Determination for the Company's Vagus Nerve Stimulation Therapy System for Treatment-Resistant Depression: LivaNova has been engaged with CMS on this important issue and submitted a letter to CMS requesting a formal reconsideration of the NCD for VNS Therapy for patients with TRD. The Company is encouraged that CMS has taken this initial step, which may provide access to this important therapy for TRD that has been a Medicare non-covered indication for more than a decade. A change in the Medicare coverage status of VNS Therapy for TRD that ensures adequate patient access to this important therapy would be a positive outcome for patients and physicians. The posting of the National Coverage Analysis tracking sheet has opened the 30-day public comment period. Interested parties may comment on the NCA tracking sheet until June 29 as CMS brings greater attention to this important public health issue. Over the last decade, a significant body of new evidence has emerged showing that the addition of VNS Therapy is effective in reducing symptoms in patients with TRD. We look forward to working with CMS as they consider a change in Medicare coverage.

17:24 EDT Tiger Global Management raises stake in Sunrun to 10.7% from 8.7%

17:17 EDT Hovnanian discloses overdue payment of interest on debt, avoiding default - In a regulatory 8-K filing, Hovnanian disclosed that on May 30, 2018, K. it paid the overdue interest on the Sunrise Trail 8.0% Notes that was originally due on May 1, 2018. As a result of such payment, the "Default" under the indenture governing the 8.0% Notes has been cured.

17:11 EDT Nasdaq grants Orion Energy 180-day grace period to regain compliance - Orion Energy announced today that The Nasdaq Stock Market notified Orion that it has been granted an additional 180-day grace period, or until November 26, to regain compliance with Nasdaq's $1.00 Minimum Bid Price Rule. Nasdaq's determination was based on Orion having met all other applicable listing requirements, except the Bid Price Rule, combined with the company's intention to seek shareholder approval to effect a reverse stock split if required to meet the Nasdaq Minimum Bid Price Rule. If at any time during the remaining compliance period, the closing bid price of Orion's common stock is at least $1.00 per share for a minimum of ten consecutive business days, Nasdaq will provide Orion with a written confirmation of compliance, the matter will be closed and Orion will not seek to implement a reverse stock split.

17:09 EDT Orbital ATK awarded $171.2M U.S. Navy contract modification - Orbital ATK is awarded $171,215,447 for modification to a previously awarded firm-fixed-price contract. This modification exercises an option for the procurement of full-rate Production Lot 7 for the Advanced Anti-Radiation Guided Missile for the Navy and the government of Australia. This option exercise provides for the conversion of 271 Navy provided AGM-88B High Speed Anti-Radiation Missiles into 253 Navy AGM-88E AARGM all-up-rounds, eight Captive Air Training Missiles and 10 AGM-88E AARGM AURs for foreign military sales customers. Additionally, this option exercise procures related supplies and services necessary for AARGM manufacture, sparing, and fleet deployment to include AUR kits, as well as guidance and control section spares. Work will be performed in Northridge, California (90 percent); and Ridgecrest, California (10 percent), and is expected to be completed in March 2020.

17:02 EDT PNM's Texas utility files for general rate review - PNM Resources' transmission and distribution utility in Texas, TNMP, filed its anticipated general rate review. The filing is TNMP's first general rate review since current rates were approved in 2011 and provides for a realignment of rate recovery between transmission and distribution investments. The net increase to rate base is $90M, which is incremental to previous Transmission Cost of Service filings and Advanced Metering System investments. The filing reflects an annual increase to base rates of $25.9M, based on a requested return on equity of 10.5% and capital structure comprised of 50% debt and 50% equity. Current rates are based on an allowed return on equity of 10.125% and a 45% equity ratio. TNMP has also requested $7.7M of new rate rider recovery primarily for Hurricane Harvey restoration and additional vegetation management costs. If approved by the Public Utility Commission of Texas, new rates are expected to become effective in early 2019 and increase the average residential customer bill by 11%.

16:53 EDT Hyatt purchases shares from Anthony Pritzker Family Foundation - On May 23, Hyatt Hotels entered into a purchase and sale agreement with the Anthony Pritzker Family Foundation, pursuant to which the company agreed to purchase an aggregate of 300,000 shares of Class B common stock of the company owned by seller at a price of $81.0346 per share, which represents the Volume Weighted Average Price for the class A common stock of the company for the three trading-day period ending May 22,as reported by Bloomberg. The aggregate purchase price for this repurchase transaction was $24,310,380.00. The closing of such repurchase transaction occurred on May 25. The shares of class B common stock repurchased represented approximately less than 1% of the Company's total shares of common stock outstanding prior to the repurchase.Upon closing of this repurchase, the 300,000 shares of class B common stock automatically converted into 300,000 shares of class A common stock. All 300,000 shares of class B common Stock converted in the repurchase will be retired in accordance with the company's Certificate of Incorporation, and the number of authorized shares of class B common stock will be reduced by 300,000. All 300,000 shares of Class A common stock into which the shares of Class B Common Stock will convert will also be retired, and will resume the status of authorized but unissued shares. After the closing of the repurchase there are 68,069,643 shares of Class B Common Stock outstanding and 44,012,776 shares of class A common stock outstanding. The shares repurchased were repurchased under the company's previously announced repurchase program. Following this repurchase, the company has approximately $276.8M remaining under its repurchase authorization.

16:49 EDT AWS announces general availability of Amazon Neptune - Amazon Web Services, an Amazon.com company, announced general availability of Amazon Neptune, a fast, reliable, and fully managed graph database service. Amazon Neptune efficiently stores and navigates highly connected data, allowing developers to create sophisticated, interactive graph applications that can query billions of relationships with millisecond latency. In the preview, customers used Neptune to build social networks, recommendation engines, fraud detection, knowledge graphs, drug discovery applications, and more. With Amazon Neptune there are no upfront costs, licenses, or commitments required; customers pay only for the Neptune resources they use. To get started with Amazon Neptune, visit https://aws.amazon.com/neptune.

16:45 EDT Western District of Texas court dismisses class action suit against Citizens - Citizens announced that the U.S. District Court for the Western District of Texas has dismissed with prejudice a previously disclosed securities class action against the company and five current and former officers and directors, captioned Juan Gamboa v. Citizens, Inc. et al. The dismissal affirms Citizens' position that it fully and accurately disclosed all required information to its stockholders. Following an article published by short sellers disparaging Citizens' business, certain Citizens stockholders filed suit alleging that certain statements by the company, including statements involving the voluntary disclosure of an adverse tax issue in the company's SEC filings, were materially false and misleading and that the company failed to disclose material adverse facts about its business, operations and prospects. The court noted that while it agreed with several of the arguments set forth by Citizens for dismissal, it only needed to focus on one-scienter-to dispose of the motion and dismiss the case.

16:40 EDT Symantec to delay filing Form 10-K - Symantec does not expect it will be able to timely file its Form 10-K for the fiscal year ended March 30, 2018. The Audit Committee of the Company's Board of Directors 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. As a result, the Company has not finalized its financial statements pending completion of the investigation, and the Company is not in a position to file its Form 10-K until after the Audit Committee completes its internal investigation and the Company's independent public accountants assess the conclusions of the Audit Committee in connection with their audit of the Company's annual financial statements included in the Form 10-K. The Audit Committee continues to work diligently with its independent counsel and advisors to complete its internal investigation as soon as possible. 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. The investigation is in its early stages and the Company cannot predict the duration or outcome of the investigation.

16:38 EDT Hilton Grand Vacations names Charles Corbin chief development officer - Hilton Grand Vacations announced Charles Corbin, executive vice president and chief legal officer, has been appointed chief development officer in addition to his current position. As chief development officer, Corbin will oversee HGV's development, architecture and construction teams. He has held this role as interim since October 2017, and led the development team in establishing HGV's first two resorts in Japan and its first resort in the highly demanded U.S. market of Charleston, South Carolina.

16:33 EDT Crispr Therapeutics falls 9% afterhours following FDA hold on CTX0001

16:31 EDT Agilent to acquire all business assets of Ultra Scientific, terms not disclosed - Agilent Technologies announced that it has entered into a definitive agreement to acquire all the business assets of Ultra Scientific, a provider of chemical standards and certified reference materials. "We identified chemical standards as a key expansion area that is essential to Agilent's goal of being a complete workflow solutions provider," said Mark Doak, president of Agilent's CrossLab Group. "Chemical standards are critical to customers' analytical laboratory workflows and used to help customers qualify the performance of their methods to validate and quantitate their results." Ultra Scientific is based in North Kingstown, RI, with a distribution center in Wesel, Germany. The company employs 52 employees. The transaction is subject to customary closing conditions. Financial terms of the deal are not being disclosed.

16:22 EDT Medigus to present new data on MUSE system - Medigus announced that new data from its clinical research on the MUSE will be highlighted in poster presentations at Digestive Disease Week, June 2-5, in Washington, DC. "The safety, efficacy and comparison data presented at DDW highlight the value of the MUSE system, which enables an incision-less procedure for GERD patients as an alternative to invasive surgical procedures who can no longer rely on drug therapy," said Chris Rowland, Chief Executive Officer of Medigus. "We are encouraged by our results to date and remain dedicated to continue building on our clinical success." The MUSE system is a single-use flexible transoral stapler that merges the latest advancement in microvisual, ultrasonic and surgical stapling. The device comes equipped with an ultrasonic sight and range finder and a micro ScoutCam CMOS camera, which enables a single physician to perform an incisionless transoral fundoplication, the procedure intended to treat the anatomical cause of gastroesophageal reflux disease. As the device requires no incisions, patients generally report greater comfort during the procedure and experience reduced hospital stays by up to 50% over invasive fundoplication procedures.

16:18 EDT Mitcham Industries reports increase in order bookings - Mitcham Industries' Klein business unit has recently been experiencing an increase in order activity. In the first four months of Fy19, Mitcham has received orders totaling approximately $6.0M for Klein's sonar and related products. This level of activity is significantly above that of the previous fiscal year. Included in the orders received is a contract from the Royal Netherlands Navy for two of Klein's flagship 5900 systems. In addition, Mitcham's Seamap unit has recently received orders totaling approximately $6.1M for seismic source controller and RGPS positioning systems and orders totaling approximately $1.0M related to its recently-introduced towed streamer products. Mitcham Co-CEO Guy Malden commented, "We believe Klein's bookings through the first third of this year, which exceed those for all of last year, are early signs of the anticipated recovery of this business to more normal levels. We also believe that this increased level of bookings demonstrates the increasing acceptance of our sonar products in new applications and the potential for this business".

16:11 EDT NGL Energy Partners to sell remaining retail propane business for $900M - NGL Energy Partners announced that it has signed a definitive agreement to sell its remaining Retail Propane business to Superior Plus Corp. for $900M in cash proceeds. The Partnership has made the strategic decision to completely exit the Retail Propane business and re-deploy capital at a comparatively higher rate of return in its Water Solutions and Crude Logistics businesses. NGL believes these businesses have greater organic growth opportunities and with the activity in the Partnerships core basins, including the Delaware Basin and DJ Basin in particular, the returns on these opportunities for NGL are expected to exceed those achievable in Retail Propane. The transaction is subject to certain regulatory and other customary closing conditions and is expected to close within 60 days. As part of its future financial strategy, NGL plans to immediately repay certain indebtedness totaling approximately $800M which includes capital expenditures incurred though the first quarter of fiscal 2019, with the remaining proceeds to be used for certain near-term strategic growth opportunities, primarily in the Water Solutions segment. Upon the closing of this transaction, NGL expects to achieve compliance leverage of approximately 3.50x, with an expectation to stay at or below this level going forward. This transaction and associated application of net proceeds is expected to be neutral to slightly dilutive in near-term cash flow per unit, with accretion being driven over time as a result of certain growth opportunities that NGL is currently evaluating. The Partnership continues to target distribution coverage in excess of 1.3x on a trailing twelve month basis and expects to achieve that coverage during Fiscal 2019.

16:08 EDT Keysight Technologies rises 3.8% afterhours following Q2 results and Q3 guidance

16:07 EDT Denali announces early exercise of option to acquire F-star Gamma - Denali Therapeutics announced that it has exercised its option to acquire all outstanding shares in F-star Gamma pursuant to the option agreement dated August 24, 2016 and expanded its collaboration with F-star on Denali's biologics Transport Vehicle blood-brain barrier platform technology. The total consideration for the option exercise and expanded collaboration amounts to $24M, plus any net cash held by F-star Gamma at closing of the transaction. In addition, Denali may make future contingent payments up to a maximum of $447M upon the achievement of defined preclinical, clinical, regulatory and commercial milestones. There are no royalty payments on net sales from future products. Through the acquisition of F-star Gamma, Denali obtains exclusive rights to discover, develop and commercialize an unlimited number of therapeutic products enabled by F-star's intellectual property and utilizing any of the three BBB transporter Fcab targets nominated by Denali.

16:07 EDT Syndax, Nektar announce immuno-oncology clinical trial collaboration - Syndax Pharmaceuticals (SNDX) and Nektar Therapeutics (NKTR) announced a non-exclusive, clinical collaboration to evaluate the safety and efficacy of Nektar's NKTR-214, a CD122-biased agonist, in combination with entinostat, Syndax's oral, small molecule Class 1 specific HDAC inhibitor, in patients with metastatic melanoma who have previously progressed on treatment with an anti-PD-1 agent. Under the terms of the agreement, Syndax and Nektar will collaborate on a study to evaluate the combination. The Phase 1b portion of the trial aims to establish safety and a recommended dose for the combination regimen and will be followed by a Phase 2 portion designed to assess efficacy, as defined by objective response rate and durability of response. Progression free survival and overall survival will also be evaluated. Correlative biomarker analyses that aim to identify patients with enhanced responses to the combination, including analyses exploring the potential of elevated levels of classical peripheral blood monocytes, will be incorporated. Syndax will be responsible for conducting the Phase 1b/2 trial and the agreement includes a provision where the parties may extend the collaboration to include a pivotal trial based on mutual interest. Additional financial details and other terms of the agreement were not disclosed.

16:06 EDT Gilead, Galapagos NV announce Phase 2 EQUATOR study meets primary endpoint - Gilead (GILD) and Galapagos NV (GLPG) announced that the randomized, placebo-controlled Phase 2 EQUATOR study of filgotinib, an investigational, selective JAK1 inhibitor, in 131 adults with moderate to severe psoriatic arthritis, achieved its primary endpoint of improvement in the signs and symptoms of psoriatic arthritis at Week 16, as assessed by the American College of Rheumatology 20% improvement score. There was an ACR20 response of 80% for filgotinib versus 33% for placebo. The ACR50 and ACR70 responses at Week 16 were also significantly higher for filgotinib versus placebo 48% for filgotinib versus 15%; ACR70: 23% versus 6 percent. Filgotinib was generally well-tolerated in the EQUATOR trial, with no new safety signals observed and similar laboratory changes compared to those reported in previous trials with filgotinib in rheumatoid arthritis patients. The adverse event rate was similar in both groups with mostly mild or moderate events reported. There was one serious infection in the filgotinib group, a patient who experienced pneumonia with a fatal outcome. One other patient receiving filgotinib developed herpes zoster. There were no cases of opportunistic infection, tuberculosis, thromboembolism, or malignancy.

16:03 EDT Exact Sciences to seek to expand Cologuard's indication after ACS guidelines - Exact Sciences announced that it "strongly supports" the American Cancer Society's update to its colorectal cancer screening guidelines announced today. The new guidelines recommend colorectal cancer screening begin at age 45 for people at average risk of the disease. With more than 20 million Americans age 45-49, Exact Sciences affirmed its commitment to seek U.S. Food and Drug Administration approval for making Cologuard, its noninvasive colorectal cancer screening test, available to those in this population who are at average risk for colorectal cancer. Cologuard is currently available to individuals age 50 and older who are at average risk for colorectal cancer. Exact Sciences will seek to expand the product's current indication to people age 45 and older who are at an average risk for colorectal cancer.

15:48 EDT Icahn says AmTrust shareholders should demand independent inspector of elections - Carl Icahn issued a statement regarding AmTrust Financial Services, stating in part: "Unbelievably, AmTrust is planning to act as judge and jury of the shareholder vote on Monday. Generally, especially in contested elections, and because we believe most Boards are interested in holding a fair vote, an independent inspector of elections is engaged to tabulate the vote...Shareholders should demand a fair vote by demanding that AmTrust engage an independent inspector of elections." Reference Link

15:36 EDT Old Republic announces new residual markets venture - Old Republic announced that it is forming a new venture to provide services to residual markets. The new company, Old Republic Residual Market Services, will focus its operations on specialized services to various state-assigned risk plans and the National Council on Compensation Insurance, or NCCI, Workers Compensation Insurance Plan. The new venture will be led by Scott Dahlager as president. He brings important intellectual capital and business relationships cultivated over many years of professional, client-centered service. The new company will further expand Old Republic's general insurance and related services business. Capital requirements will be extended by Old Republic from internally available capital funds, and operating infrastructure will be provided by the overall resources of Old Republic's General Insurance Group subsidiaries. In making this announcement, Al Zucaro, chairman & CEO, noted that, "This new venture is a natural extension and continuation of Old Republic's long, successful history of providing insurance-related services to public institutions, and further expands our long-standing, strong relationship with the NCCI."

15:36 EDT Comtech receives $14.2M in U.S. Army orders for Q3 - Comtech Telecommunications Corp. announced that its Command & Control Technologies group, which is part of Comtech's Government Solutions segment, received orders during its Q3 totaling $14.2M from the U.S. Army to provide satellite terminals and networking equipment.

15:30 EDT AT&T CEO says 'don't even want to go there' on next step if Time Warner blocked - Responding to a question about what would be the next move if the judge blocks the company's planned purchase of Time Warner (TWX), AT&T (T) CEO Randall Stephenson said he doesn't "even want to go there," citing the ongoing litigation and the judge's caution that the company's be mindful regarding what they say about the deal. Stephenson was participating in a Q&A at the Code conference.

15:19 EDT AT&T CEO says going toward premium content while Verizon goes toward digital - AT&T CEO Randall Stephenson continues speaking during the Code conference.

15:12 EDT AT&T CEO discusses power of pairing 130M mobile subscribers, Time Warner content - AT&T CEO Randall Stephenson says the media model has to change and that a merged AT&T-Time Warner will be able to innovate. Stephenson is speaking during Recode's "Code" conference.

15:10 EDT Acacia board urges shareholders to vote for election of Graziadio, Walsh - The board of directors of Acacia Research Corporation filed an investor presentation in connection with the company's 2018 Annual Meeting of Stockholders to be held on June 14, 2018. The Acacia Board recommends stockholders vote "FOR" the election of Louis Graziadio and Frank "Ted" Walsh at the Annual Meeting on the WHITE proxy card today. "Two activist hedge funds, Sidus Investment Management and BLR Partners, are seeking to replace Messrs. Graziadio and Walsh on the Board with their hand-picked candidates," the board said. "Notwithstanding the Board's confidence in the future of Acacia under our transformation strategy, we have attempted to resolve the proxy contest with Sidus and BLR by offering to appoint one of their nominees, Mr. Al Tobia, to the Board and to identify, together with Sidus and BLR, a mutually acceptable second Board member. However, Sidus and BLR have rejected our offer and instead have resorted to a campaign of aggressive personal attacks, threats and baseless allegations about the Company and the Acacia Board. The Acacia Board believes that Sidus' and BLR's flawed analysis and misleading claims demonstrate that these funds fundamentally misunderstand Acacia's current business and strategy, as well as the historic impact of the regulatory environment on Acacia's operations. The Sidus/BLR presentations contain numerous factual errors, misleading comparisons and false statements about Acacia and what Acacia has achieved under the leadership of Mr. Graziadio and the refreshed Board." Acacia's board said that the Sidus/BLR presentations use "poor financial analysis techniques and misleading metrics" and "conveniently" exclude "substantial operating costs, such as R&D expenses, when making a comparison to their so-called peer companies." The board added that it believes Sidus and BLR have not made a compelling case to remove "two talented, independent directors."

14:58 EDT Etsy to close Etsy Wholesale platform end of July - In a statement published in the company's blog page, Etsy said: "We launched the Etsy Wholesale marketplace to help connect Etsy sellers like you with retailers looking for something special to stock their shelves. While the original promise of Etsy Wholesale was exciting and some sellers have had great success on the platform, what we've learned over the past several years is that demand for wholesale from buyers hasn't been as strong as we hoped.Today wholesale represents a very small part of our overall business. Of our nearly 2 million sellers, only 5,000 of them are actively selling on Etsy Wholesale, and only a small fraction of those sellers sell more than $10,000 a year through the wholesale platform. Unfortunately, running a separate marketplace built around the needs of wholesale sellers requires a big investment of resources. So we've made the tough decision to close the Etsy Wholesale platform. You'll be able to continue to accept new orders on Etsy Wholesale through the end of June. After that, you'll no longer be able to accept new orders, and we'll close the marketplace at the end of July." Reference Link

14:47 EDT Santander Consumer slides after report of Chrysler sales, financing unit plans - Shares of Santander Consumer (SC) are sliding following a media report claiming Fiat Chrysler (FCAU) is considering ending sales of Fiat cars in North American and China and planning to set up its own captive finance unit in the U.S. Commenting on what the news might mean for Santander Consumer, Piper Jaffray analyst Kevin Barker argued that it will take years for Chrysler to fully ramp a financing unit and a transition away from Chrysler should ultimately prove to be margin-accretive for the lender. ENDING FIAT CAR SALES IN NORTH AMERICA: Previewing Fiat Chrysler's investor day, Bloomberg reported that Fiat Chrysler CEO Sergio Marchionne is considering ending sales of Fiat cars in North America and China in the coming years, while mostly confining Chrysler to the U.S. The carmaker is also expected to announce its intention to set up its own captive finance unit in the U.S., following similar structures of its American competitors, the report noted, citing people familiar with the matter. SANTANDER CONSUMER SELLOFF A BUYING OPPORTUNITY: Commenting on the news report, Piper Jaffray's Barker told investors he believes it would take several years for Chrysler to fully ramp a financing unit. While a creation of a captive finance unit or the transition away from Santander Consumer by Chrysler has long been considered a risk to the company, the analyst thinks such a loss would ultimately prove to be margin-accretive for the lender. If Santander Consumer were to lose the Chrysler business, there could be a major increase in the capital levels at the former as Chrysler loans run off the portfolio, he contended. Further, the analyst argued that the loss of some of the Chrysler loans would result in more capital trapped in Santander Consumer and would further incentivize its European parent, Banco Santander (SAN), to consolidate. The analyst, who views the selloff as a longer-term buying opportunity, reiterates an Overweight rating on Santander Consumer shares. PRICE ACTION: In afternoon trading, shares of Fiat Chrysler have gained over 6% to $22.24, while its current finance partner Santander Consumer has dropped almost 9% to $17.53.

14:41 EDT CSX appoints James Schwichtenberg as Chief Safety Officer - CSX Corporation announced that James Schwichtenberg is joining CSX as VP and Chief Safety Officer. Schwichtenberg will lead the company's intensified focus on safety to re-establish CSX as the safety leader among North American railroads. Schwichtenberg joins CSX with 20 years of railroad experience, including 15 directly leading rail safety and regulatory initiatives.

14:23 EDT Canadian Pacific announces tentative four-year agreement with engineers union - Canadian Pacific Railway announced earlier a tentative four-year agreement with CP conductors and locomotive engineers and a five-year agreement with our KVR conductors and locomotive engineers, ending both strikes. Details of the agreement will be presented to the TCRC membership for ratification. Approximately 3,000 locomotive engineers and conductors are represented by the TCRC. Keith Creel, CP President and CEO said, "It is especially meaningful to achieve a four-year tentative agreement with our valued locomotive engineers and conductors, providing long-term stability for all parties involved. This is a significant step toward a renewed positive relationship growing forward together serving our customers and the Canadian economy." No further details will be released at this time. Canadian Pacific shares trading in New York are up 3% in afternoon trading following the news.

13:41 EDT FDA says will implement 'Right to Try' law consistent with 'longstanding values' - FDA Commissioner Scott Gottlieb issued a statement on the signing of the Right to Try Act, stating in part: "We've taken many steps to improve our process through which patients can access promising investigational drugs. We understand that treatment decisions for those facing terminal illnesses are best made by patients and families, with the support of their treating physicians. When appropriate, those suffering from a terminal illness who've exhausted available options should be able to access promising treatments being studied in clinical trials, or products under active review by the FDA. The agency is faithfully committed to these goals, to protecting patients, and to making sure they're able to make informed decisions...This new law amends the Federal Food, Drug, and Cosmetic Act to establish a new pathway aimed at increasing access to unapproved, investigational treatments for patients diagnosed with life-threatening diseases or conditions who have exhausted approved treatment options and who are unable to participate in a clinical trial. Our implementation of the Right to Try Act will build on our long-standing efforts to help patients and families who are facing life-threatening diseases or conditions, in a way that seeks to protect their autonomy, their safety, and the safety of others following in their paths. The decisions we reach related to products that can serve as an effective treatment for a terminal illness, or that can arrest a devastating and debilitating condition, are among the most important and carefully considered judgments that we make. We recognize the important balance between making sure patients have the assurances Congress intends, while enabling timely access to promising treatments in these devastating circumstances. And we'll implement this new law consistent with these longstanding values." Large, publicly traded pharmaceutical companies 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

13:06 EDT Micron gives up gains, shares now down 1.5% to $61.68

13:01 EDT ExxonMobil CEO plans to more than double earnings potential by 2025 - ExxonMobil plans to more than double earnings potential by 2025 while addressing the risks of climate change through continued research into breakthrough lower-carbon technologies, Chairman and Chief Executive Officer Darren Woods told shareholders during the company's annual meeting. "Through record discoveries, world-class acquisitions and growing access to attractive markets, we've put together the best portfolio of new investments since the Exxon-Mobil merger nearly 20 years ago," Woods said. "Our investments are robust to a wide range of price environments, and they leverage our competitive advantages in technology, integration and, most importantly, our people." Lower-cost-of-supply investments in U.S. tight oil, deepwater and liquefied natural gas are key drivers behind ExxonMobil's plans, and are supported by a suite of industry-leading technologies including advanced seismology, integrated reservoir modeling and data analytics, the company said. The company has announced it would increase tight oil production in the U.S. Permian Basin five-fold, and start up 25 projects worldwide, which will add volumes of more than 1 million oil-equivalent barrels per day. In 2017, ExxonMobil added 10 billion oil-equivalent barrels to its resource base in locations including the Permian, Guyana, Mozambique, Papua New Guinea and Brazil. ExxonMobil is upgrading its product slate through strategic investments at refineries in Baytown and Beaumont in Texas and Baton Rouge, Louisiana, Rotterdam, Antwerp, Singapore, and Fawley in the U.K. The company expects to grow its chemical manufacturing capacity in North America and Asia Pacific by about 40 percent, in part by adding 13 new facilities including two world-class steam crackers in the United States.

12:25 EDT CSX pays $3.2M to settle sex discrimination lawsuit - CSX Transportation will pay $3.2M and furnish other relief to settle a company-wide sex discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission, the federal agency announced yesterday. According to the EEOC's lawsuit, CSX "conducted isokinetic strength testing as a requirement for workers to be hired for various jobs," which caused an "unlawful discriminatory impact on female workers seeking jobs as conductors." Reference Link

12:16 EDT Consumer Reports now recommends Tesla Model 3 after brake fix - Consumer Reports now recommends the Tesla Model 3 after its testers found a recent over-the-air update improved the car's braking distance by nearly 20 feet. The software update came a week after Consumer Reports published test results that showed stopping distances for the Model 3 that were "significantly longer than any other contemporary car." In an email to Consumer Reports, a Tesla spokeswoman said that the company improved the software for the Model 3's antilock braking system to adapt to variations in how the brakes might be used and to respond to different environmental conditions. Shares of Tesla are up 1.8% to $288.86 in midday trading. Reference Link

12:14 EDT Consumer Reports now recommends Tesla Model 3 after brake fix

11:35 EDT Trump: Iger 'never called to apologize for horrible statements he made' on ABC - President Donald Trump tweeted: "Bob Iger of ABC called Valerie Jarrett to let her know that "ABC does not tolerate comments like those" made by Roseanne Barr. Gee, he never called President Donald J. Trump to apologize for the HORRIBLE statements made and said about me on ABC. Maybe I just didn't get the call?" The Fly notes that Iger is the CEO of Disney, which owns ABC. Reference Link

11:02 EDT Ladder Capital announces 3% dividend increase to 32.5c - Ladder Capital announced the declaration by its Board of Directors of a second quarter 2018 dividend of 32.5c per share of Class A common stock. The cash dividend is payable on July 2, 2018 to stockholders of record as of the close of business on June 11, 2018. This declaration reflects a 3% increase in Ladder's recurring quarterly cash dividend, effective in the current quarter, to 32.5c per share from 31.5c per share. Since electing to be taxed as a REIT on January 1, 2015, Ladder's recurring quarterly cash dividend has been increased by 30% in four separate increases. Ladder expects to review its dividend policy again at year end.

10:54 EDT Deere boosts quarterly dividend by 15% to 69c - Deere & Company's board increased the company's quarterly dividend to 69c per share on common stock. The dividend is payable August 1, to stockholders of record on June 29. The new quarterly rate represents an additional 9c per share over the previous level, an increase of 15%. "Today's announcement reaffirms our confidence in the company's present direction and our belief that Deere will continue to deliver significant long-term value to investors and customers," said Samuel Allen, CEO. "We remain committed that the more durable business model now in place at Deere will result in strong financial performance throughout the business cycle."

10:39 EDT Sanofi says racism not known side effect of any medication - Sanofi US said via Twitter, "People of all races, religions and nationalities work at Sanofi every day to improve the lives of people around the world. While all pharmaceutical treatments have side effects, racism is not a known side effect of any Sanofi medication."

10:27 EDT Exact jumps after recommended age for color cancer screenings is lowered - The American Cancer Society released an updated guideline for colorectal cancer screening. Among the major guideline changes, the new recommendations say screening should begin at age 45 for people at average risk. Previously, the guideline recommended screening begin at age 50 for people at average risk. Recommendations for screening test options are also part of the guideline changes. Several test options are available for colorectal cancer screening. "There are some differences among the tests to consider, but the most important thing is to get screened, no matter which test you choose," American Cancer Society said in a statement. The agency listed the differences between stool-based tests and visual exams. Shares of Exact Sciences (EXAS), which sells stool-based test Cologuard, are up 4.5% to $55.10 in morning trading. Reference Link

10:23 EDT American Cancer Society lowers recommended colon cancer screening age to 45 - The American Cancer Society released an updated guideline for colorectal cancer screening. Among the major guideline changes, the new recommendations say screening should begin at age 45 for people at average risk. Previously, the guideline recommended screening begin at age 50 for people at average risk. Recommendations for screening test options are also part of the guideline changes. Several test options are available for colorectal cancer screening. "There are some differences among the tests to consider, but the most important thing is to get screened, no matter which test you choose," American Cancer Society said in a statement. The agency listed the differences between stool-based tests and visual exams. Shares of Exact Sciences (EXAS), which sells stool-based test Cologuard, is up 4.5% to $55.10 in morning trading. Reference Link

10:21 EDT Allergan CEO: Deal track record 'pretty good'

10:11 EDT Allergan will look at 'traditional, 'non-traditional' ways to create value

10:08 EDT Allergan CEO says will divest women's health, infectious diseases unit - Allergan Chairman, President and CEO Brent Saunders confirmed at Bernstein's Annual Strategic Decisions Conference that the company will divest its women's health and infectious disease businesses after deciding against a split of the company. Saunders said Allergan will prioritize R&D and external investments in four core therapeutic areas. Allergan is down about 1% to $149.57 in morning trading.

10:02 EDT Eisai receives priority review for Fycompa pediatric indications - Eisai announced that the FDA has accepted its supplemental new drug application for priority review for its antiepileptic drug Fycompa CIII for monotherapy and adjunctive use for the treatment of partial-onset seizures with or without secondarily generalized seizures in pediatric patients. The submission also proposes a pediatric indication for adjunctive use for primary generalized tonic-clonic seizures in patients with epilepsy. The sNDA application includes both the Fycompa tablet and oral suspension formulations.

10:01 EDT Live Nation acquires majority stake in ScoreMore Shows - Live Nation Entertainment, the world's leading live entertainment company, has acquired a majority stake in ScoreMore Shows, one of the largest independent concert promoters and festival producers in the country, and the largest in Texas. The Austin-based company promotes hundreds of regional shows, and oversees a roster of rapidly growing music festivals, including JMBLYA, Neon Desert Music Festival, Mala Luna Music Festival, as well as launching J. Cole's Dreamville Music Festival.

09:50 EDT Greenlight Capital Re provides 'accurate information' in response to report - Greenlight Capital Re addressed inaccurate statements in a report published by Sunesis Capital. On Monday, May 28, 2018, Sunesis Capital, a San Francisco based fund published the Report, which alleges, among other things, that Greenlight Re should be classified as a passive foreign investment company, or PFIC, and this classification would be deemed as "lights out" for Greenlight Re. The company believes that this allegation and assessment of the company, its business and strategy is fundamentally flawed. While the company, the board, and management always support active dialogue with existing and potential shareholders, it believes that the creation of any investment thesis relies on accurate facts and honest analysis. The Report is deficient in these regards. On December 22, 2017, H.R. 1, commonly referred to as "the Tax Cuts and Jobs Act", was signed into law. H.R. 1 provides a bright-line test that a non-U.S. insurance company will receive the benefit, for PFIC purposes, of being engaged in the active conduct of an insurance business, if its applicable insurance liabilities constitute more than 25% of its total assets. The Report illustrates Sunesis Capital's confusion regarding Greenlight Re's value creation strategy and drivers, and mischaracterizes the Company's underwriting, investment and disclosure practices: The Report questions whether the Company "should be classified as a PFIC". As Greenlight Re has stated publicly in its annual report on Form 10-K for the period ended December 31, 2017, management believes Greenlight Re should not be classified as a PFIC. Under the existing rules prior to the Tax Cuts and Jobs Act, Greenlight Re annually conducted an assessment and determined that in 2017 and in prior years it should not be deemed a PFIC. The Company's reinsurance activities and risk profile do not support the PFIC designation, but the law change has put more emphasis on balance sheet arithmetic than a qualitative assessment. Greenlight Re intends not to be treated as a PFIC and is in the process of restructuring its activities to ensure that it meets the bright-line applicable insurance liabilities test. Greenlight Re will not need "to increase insurance liabilities in a market that has terrible pricing" or deviate from its underwriting discipline. Greenlight Re is not a small reinsurance business "stapled onto billions of dollars of hedge fund capital". Rather, the Company, established in 2004, is a standalone global property and casualty reinsurer regulated in the Cayman Islands and Ireland with 37 employees. Greenlight Re is not invested in the Greenlight Capital investment funds, but rather has a separately managed account subject to its own investment guidelines as overseen by its Board of Directors. Contrary to the allegations in the Report, Greenlight Re has not "increased investment risk due to poor recent performance". As described in the Company's 2018 first quarter earnings call, the Company has lowered gross exposure in recent periods. As of March 31, 2018, the investment portfolio was 93% gross long by 65% short, compared to 101% long and 67% short as of December 31, 2017. The Company utilizes brokerage services that are common practice throughout the reinsurance industry. The reinsurance brokerage services industry is dominated by a small number of large companies and it is common for a reinsurer to have significant concentration. While the Company does not believe that other clients of Greenlight Re's investment advisor or of its affiliates are relevant to the Company or to its investors, we note that Greenlight Capital has advised that as of March 31, 2018: -- Greenlight Capital's funds that employ a similar investment strategy to Greenlight Re have similar fee arrangements, and -- Greenlight Re comprises 18% of Greenlight Capital's total assets under management, not 42% as erroneously calculated in the Report. For these reasons and others, Greenlight Re strongly disagrees with the allegations contained in the Report. Further, and more importantly, the Company remains committed and focused on its goal to generate long-term value for its shareholders.

09:29 EDT Wells Fargo says expects net interest margin 'flat to up' in 2018 - Says expects it will be difficult to "meaningfully grow" NIM this year. Says still plenty of demand for jumbo mortgages. Says consumer demand for loans "remains strong."

09:18 EDT U.S. Gold commencing drilling at Potato Canyon, Nevada - U.S. Gold plans to commence drilling in the Potato Canyon area in the Southwest section of the Keystone Project. The Potato Canyon area, located in the Southwest portion of the Keystone District, is the newest staked, 2017 vintage, land position of the Keystone project. U.S. Gold Corp. has not previously drilled in the Potato Canyon area. U.S. Gold plans to drill a minimum of 2 scout holes, each to depths of up to 2,000 feet for a total of 4,000 feet. The scout holes will examine the geology of the Potato Canyon area and provide an initial assessment of some altered areas with very anomalous surface geochemistry. U.S. Gold will also drill a minimum of one additional offset hole to follow up on the drill hole KEY17-08rc, drilled in the Fall of 2017. Hole KEY17-08rc intersected significantly anomalous gold up to 736 ppb between 665 and 1195 feet. All the studies for the EA have been completed and the company have feedback from the BLM that it would potentially receive approval by the end of the summer 2018. Its 2018 iterative site-specific target drilling program will commence as soon as the EA is approved, and a Plan of Operation is in place.

09:16 EDT GlycoMimetics reports NCI-sponsored trial of GMI-1271 - GlycoMimetics has signed a Cooperative Research and Development Agreement with the National Cancer Institute, part of the National Institutes of Health. Under the terms of the CRADA, GlycoMimetics will collaborate with both the NCI and the Alliance for Clinical Trials in Oncology to conduct a randomized, controlled clinical trial testing the addition of GMI-1271 to a standard cytarabine/daunorubicin regimen in older adults with previously untreated acute myelogenous leukemia who are suitable for intensive chemotherapy. This Phase 3 trial will be led by Geoffrey Uy, M.D., Associate Professor of Medicine, Bone Marrow Transplantation and Leukemia, Washington University School of Medicine in St. Louis, and the primary endpoint will be overall survival, with a planned interim analysis based on event-free survival after the first 250 patients have been enrolled in the study. Under the terms of the CRADA, the NCI may also fund additional research, including clinical trials involving pediatric patients with AML as well as preclinical experiments and clinical trials evaluating alternative chemotherapy regimens. GlycoMimetics will supply GMI-1271 as well as provide financial support to augment data analysis and monitoring for the Phase 3 program. In addition, GlycoMimetics announced that the generic name for GMI-1271 will be uproleselan, and the drug candidate will be referred to by this name going forward.

09:12 EDT Destination Maternity CEO Melissa Payner-Gregor to leave, Marla Ryan to succeed - Destination Maternity announced that the company's board has appointed Marla Ryan to the position of CEO, effective immediately. Ryan replaces Melissa Payner-Gregor, who served as an interim CEO since January 2018 and director of the Company since August 2009. Payner-Gregor is exiting the company to pursue other opportunities. Ryan brings more than 25 years of experience in branded apparel and retail, as well as extensive experience consulting to Fortune 500 companies. Ryan is also the founder and CEO of Lola Advisors, a business consultancy working in the apparel, beauty and wellness sectors.

09:09 EDT American Water to acquire wastewater assets of Exeter Township for $96M - Pennsylvania American Water, a subsidiary of American Water, announced that it has signed an agreement to acquire the wastewater assets of Exeter Township in Berks County. The total value of the transaction is approximately $96M. The Exeter Township wastewater system serves nearly 9,000 customers. Pennsylvania American Water and the township will seek approval of the acquisition from the Pennsylvania Public Utility Commission, or PUC, and other necessary approvals from the Pennsylvania Department of Environmental Protection. The signing of the purchase agreement is the culmination of negotiations between Pennsylvania American Water and Exeter officials. The township's board of supervisors voted on April 23, to accept the company's proposal and sign the asset purchase agreement. The township initially issued a request for proposals in March 2017, for the potential sale of its wastewater system.

09:07 EDT SEI Investments adds $3.5B in new OCIO assets in six months - SEI reported continued growth in its institutional outsourced chief investment officer, or OCIO, business with the addition of 14 new clients with $3.5B in new global institutional assets over Q4 2017 and Q1 2018. Some of the new clients added during that timeframe include Harsco Corporation, DexYP, Buckner Foundation, Inc., Redlands Community Hospital, Redlands Community Hospital Foundation and UFCW Local 1500 Pension & Welfare Funds. SEI now manages more than $92.5B in assets in the company's OCIO program.

09:06 EDT Vuzix partners with Qualcomm on new Snapdragon XR1 platform - Vuzix (VUZI) is pleased to announce that the company has partnered with Qualcomm (QCOM) to develop next generation Vuzix' AR smart glasses on Qualcomm's new Snapdragon XR1 platform. The first dedicated Qualcomm XR platform specifically designed for smart glasses and wearables, the XR1 is a perfect match for Vuzix' mission to continue to deliver fashionable and ergonomic smart glasses with an immersive user experience.

09:04 EDT Agco announces development partnership with AGI - Agco announced a development partnership with agricultural technology company AgIntegrated, or AGI, to deliver ag information management systems services to Agco customers. The partnership will enable Agco customers to connect more easily with their agronomy service providers, create data connectivity, and digitize the farm. The new services, launching in North America this year, will complement the fleet and operational services already available through Agco's Fuse Connected Services offering. The partnership between AGI and Agco will bring multiple new Advanced Programming Interface, or API, connections to offer Agco's customers more choices with their wireless data transfer needs. Rather than needing multiple communication paths between technologies, AgIntegrated's Onsite QC Pro data hub provides a neutral platform to streamline agronomic data transfer. This will enable easier data flow and better decision-making for Agco customers.

09:02 EDT Zynga acquires Gram Games for $250M in cash, earn out - Zynga announced it has acquired privately-held mobile game developer Gram Games for $250M in cash and a three-year earn out based on the team's achievement of profitability goals that align with Zynga's long-term growth plans. Zynga expects its acquisition of Gram Games will be an additional catalyst to its growth and delivery of its long-term profitability targets. Zynga remains on track to deliver results, excluding the contribution from Gram Games, in line with its original Q2 guidance as communicated during Zynga's Q1 2018 earnings call. For GAAP purposes, Zynga does not expect any significant revenue impact from Gram Games, as the expected bookings generated in Q2 of $10 million will be accounted for as an increase in deferred revenue and recognized as revenue in future quarters. Zynga expects a reduction to its Adjusted EBITDA of $8 million, as a result of the $10 million increase in deferred revenue partially offset by $2 million of expected operating contribution. Excluding the impact of deferred revenue, Zynga expects Gram Games to deliver margins in Q2 that meet their near-term margin goals.

09:02 EDT Lionsgate acquires majority stake in 3 Arts Entertainment - Lionsgate and premier talent management and production company 3 Arts Entertainment have formed an unprecedented partnership under which Lionsgate has acquired a majority stake in 3 Arts, the two companies announced today. The transaction, which is effective immediately, creates a uniquely competitive platform combining a global distribution infrastructure, deep production expertise and prolific talent relationships. 3 Arts will continue to operate under the leadership of its partners with an operating board.

08:52 EDT McDonald's CEO sees some structural change within restaurant sector

08:43 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Salesforce (CRM), up 4.5%... HP Inc. (HPQ), up 3.7%... Movado (MOV), up 11%... Dick's Sporting Goods (DKS), up 25%. DOWN AFTER EARNINGS: Chico's (CHS), down 17%... Michael Kors (KORS), down 4%... DSW (DSW), down 2%. ALSO LOWER: T2 Biosystems (TTOO), down 7% after the company filed to sell 5.565M shares of common stock... AK Steel (AKS), down 2% after Goldman Sachs analyst Matthew Korn downgraded the stock to Sell from Neutral and lowered his price target to $4 from $6.

08:38 EDT Interpace Diagnostics enters into agreement with VUMC - Interpace Diagnostics reported that the company has entered into an Agreement with Vanderbilt University Medical Center, or VUMC, based in Nashville, TN, one of the largest and most prestigious academic medical centers in the country. The new Agreement between Interpace and VUMC enables all physicians across the Vanderbilt system access to both ThyGenX and ThyraMIR for patients with indeterminate thyroid nodules.

08:37 EDT EyeGate files IDE supplement for Punctate Epitheliopathy using OBG product - EyeGate Pharmaceuticals announced the filing of an Investigational Device Exemption, or IDE, supplement for Punctate Epitheliopathy, or PE, using the company's Ocular Bandage Gel, or OBG, product. EyeGate OBG is a cross-linked thiolated carboxymethyl hyaluronic acid, or CMHA-S, platform being developed for the acceleration of re-epithelialization of large corneal epithelial defects in patients having undergone photorefractive keratectomy, or PRK, and punctate epitheliopathies. PE represents an unmet medical need and is an opportunity for EyeGate's OBG platform to expand to additional indications. There are over 76 million patients with corneal epitheliopathies in the United States. Current treatment approaches are limited, and may include artificial tears, increasing humidity, usage of lubricants/ointments and, in severe cases, the utilization of bandage contact lenses, antibiotics and/or anti-inflammatory/immunomodulatory agents. EyeGate believes there is a sentiment among physicians and optometrists supporting the need for additional or more effective treatments to be in place for PE, as well as other conditions such as dry eye and wound management.

08:33 EDT Global Partners to acquire convenience stores, gas stations from Cheshire - Global Partners LP announced the signing of an agreement to purchase 10 company-operated gas stations and convenience stores from New Hampshire-based Cheshire Oil Company, LLC. The Cheshire portfolio has nine stores in New Hampshire and one in Brattleboro, Vermont. All of the locations are branded T-Bird Mini Marts and market Citgo fuel. The purchase is expected to close in the third quarter of 2018 and is subject to customary closing conditions. Global expects the acquisition to be accretive in the first full year of operations.

08:33 EDT Iteris awarded TxDOT contract worth up to $3M - Iteris announced that it has been awarded a Texas Department of Transportation, or TxDOT, Wave 2 Traffic Engineering indefinite delivery/indefinite quantity, or IDIQ, contract, a three-year commitment with a potential value of up to $3M. Task orders are anticipated in mid-2018. This contract represents a TxDOT multi-district IDIQ for TxDOT Austin, TxDOT San Antonio, TxDOT Houston and TxDOT statewide. The company anticipates task orders for traffic signal design and timing, as well as intelligent transportation systems planning and integration.

08:32 EDT McDonald's CFO says delivery in 'about a third' of restaurants worldwide - Steve Easterbrook, President and CEO, notes that McDonald's has seen 11 consecutive quarters of topline growth, adds that the company is in early stages of "really executing against" the transformation plan. Says taking consumers some time to get used to new $1 $2 $3 Dollar Menu, but says the menu is helping average check in the U.S. Says "took the eye off the ball" on breakfast, renewing focus on breakfast in the U.S., adds that it is a "fight" for market share in the U.S. CFO Kevin Ozan delivery in "about a third" of all restaurants around the world. Says doesn't use UberEats everywhere. Says delivery a "great" business. Comments taken from Bernstein's Annual Strategic Decisions Conference.

08:29 EDT Scotiabank CFO Sean McGuckin to take leave of absence - Scotiabank announced that Group Head and CFO, Sean McGuckin, will take a leave of absence to attend to an illness in his family. The Board of Directors has appointed Senior Vice President and Chief Accountant, Rajagopal Viswanathan as Acting CFO, effective immediately.

08:24 EDT Vasco Data Security acquires privately-held Dealflo for GBP 41M in cash - VASCO Data Security announced it has acquired privately-held Dealflo for GBP 41M in cash. There are significant synergies between the companies. Dealflo is headquartered in London with its development center in Montreal, the home of OneSpan's largest development center. In addition, OneSpan Sign is already integrated into Dealflo's platform and more than half of Dealflo's customers are also OneSpan's.

08:23 EDT ContraVir Pharmaceuticals' CRV4321 shows tumor reduction ability in carcinoma - ContraVir Pharmaceuticals announced new findings confirming that CRV431, a cyclophilin inhibitor, reduces the number and size of liver tumors in a hepatocellular carcinoma mouse model. Data from the study indicate that CRV431 reduced the number of tumor nodules by 44% and reduced the overall tumor burden by 56% compared to the vehicle control group. 25% of CRV431-treated mice had no liver tumors at the end of the 10 week study, whereas all vehicle-treated mice had at least five tumors per liver. CRV431 is a non-immunosuppressive analog of cyclosporine A (CsA) whose primary biochemical action is inhibition of cyclophilin isomerases which play key roles in protein folding.

08:21 EDT 21st Century Fox sets July 18 for special meeting of stockholders regarding Disney - Twenty-First Century Fox (FOXA, FOX) announced that it has established a record date of May 29, 2018 and a meeting date of July 10, 2018, for a special meeting of its stockholders to, among other things, consider and vote on a proposal to adopt the previously announced merger agreement with The Walt Disney Company (DIS) and certain of its subsidiaries. 21CF's board of directors recommends that stockholders vote in favor of the proposal to adopt the Disney Merger Agreement and the other proposals to be voted on at the special meeting. 21CF is aware of the press release of Comcast (CMCSA) of May 23, 2018, in which Comcast states that "it is considering, and is in advanced stages of preparing, an offer for the businesses of Fox that Fox has agreed to sell to Disney." Under the Disney Merger Agreement, if any event occurs that 21CF determines, after consultation with outside legal counsel, is reasonably likely to require under applicable law the filing or mailing of any supplemental or amended disclosure, 21CF may postpone or adjourn the special meeting of its stockholders to allow reasonable additional time for the filing, mailing, dissemination and review by its stockholders of any such disclosure prior to the special meeting.

08:19 EDT Monster Beverage authorizes new $500M share repurchase program - Monster Beverage announced that its board has authorized a new share repurchase program for the repurchase of up to $500 million of the company's outstanding common stock. There is no availability remaining under the previously authorized $250 million share repurchase program.

08:18 EDT IsoRay announces signing of research funding with Ochsner Clinic Foundation - IsoRay announced the initiation of research funding for brain cancer treatment to Ochsner Clinic Foundation, a not-for-profit health system based in Louisiana. The funding is intended to support a study entitled "Comparison of Minimally Invasive Keyhole Craniotomy and Stereotactic Radiosurgery for the Treatment of New Brain Oligometastases: A Prospective, Open Label Study". The study will be led by Dr. Marcus Ware M.D., Ph.D., Medical Director of Neurosurgical Oncology at Ochsner. Dr. Ware is a Harvard Medical School graduate who completed his residency at the University of California, San Francisco, one of the premiere programs in the world in brain tumor surgery and neuro-oncology. At Ochsner, he specializes in the treatment of primary and metastatic brain tumors.

08:12 EDT Avis Budget extends partnership with Universal Parks & Resorts - Avis (CAR), the Official Car Rental Partner of Universal Parks & Resorts (CMCSA), announced the grand opening of five facilities located at Universal/Loews Hotels & Resorts properties in Orlando. Located at Loews Portofino Bay Hotel, Loews Royal Pacific Resort, the Hard Rock Hotel Orlando, Loews Sapphire Falls Resort and Universal's Cabana Bay Beach Resort, the new facilities offer guests convenient access to Avis' wide-range of vehicles and world-class service. An additional Avis counter, at Universal's Aventura Hotel, is scheduled to open this summer. The addition of these on-site hotel rental locations in Orlando strengthens Avis Budget Group's multi-year marketing partnership with Universal Parks and Resorts. Guests of Universal Parks & Resorts receive discounted rates and special offers for rentals with Avis. Avis vehicles are featured in Universal Parks & Resorts Vacations online booking tool so that guests can easily include a car rental reservation in their vacation packages. In addition, Universal Parks & Resorts promotes special offers and benefits through Avis customer channels, including their Orlando and Hollywood airport locations.

08:07 EDT Principal Financial extends digital reach with acquisition of RobustWealth - Principal Financial Group announced it will acquire RobustWealth, a financial technology company. RobustWealth provides a suite of white label solutions for investment advisors including a digital advice platform, goal-based investment tools and efficient client onboarding processes. Financial terms of the deal have not been disclosed.

08:06 EDT Biolase regains Nasdaq compliance - BIOLASE announced that it has received a letter from Nasdaq Listing Qualifications confirming that the company has regained compliance with the minimum bid price requirement of $1.00 per share for continued listing on the Nasdaq Capital Market.

08:04 EDT Whirlpool announces final results of modified Dutch auction tender offer - Whirlpool announced the final results of its "modified Dutch Auction" tender offer, which expired on May 23. Whirlpool has accepted for purchase 6,269,591 shares of its common stock, $1.00 par value per share, at a price of $159.50 per share, for an aggregate cost of approximately $1B, excluding fees and expenses relating to the tender offer. These shares represent approximately 8.8% of the shares outstanding. The tender offer was oversubscribed and pursuant to the terms of the tender offer, shares will be accepted on a pro rata basis. The proration factor for the tender offer is approximately 87%.

08:03 EDT Flir Systems awarded $2.6M contract for Black Hornet PRS for U.S. Army program - FLIR Systems has been awarded a $2.6M order from the United States Army to deliver FLIR Black Hornet Personal Reconnaissance Systems. The units delivered under this contract will support squad-level surveillance and reconnaissance capabilities in the Army's first batch order for the Soldier Borne Sensor program. The United States Army purchased the Black Hornet PRS from FLIR for test and evaluation purposes in both 2016 and 2017. The Army will continue its evaluation and consider broader scale roll out of the Black Hornet for full operational deployment within all infantry units.

08:02 EDT Saratoga Investment increases quarterly dividend 2% to 51c per share - Saratoga Investment has declared an increased quarterly dividend of 51c per share for the fiscal quarter ended May 31, payable on June 27, to all stockholders of record at the close of business on June 15.

07:53 EDT Dick's Sporting CEO says had higher merchandise margins in Q1 - "Our strong first quarter earnings reflect improved execution against our merchandising strategy, which resulted in higher merchandise margins. Product newness, strength in our private brands and a more refined assortment led to a much healthier business, with fewer promotions and cleaner inventory throughout the quarter. We believe these benefits will continue as we further optimize our assortments," said Edward Stack, Chairman and CEO. "We are also continuing to see the results of investments in our digital experience, and we will continue to invest as we build the best omni-channel experience for all athletes."

07:43 EDT InspireMD reports on expanded 2-year follow-up results from PARADIGM study - InspireMD announced that Professor Piotr Musiaek, from the Department of Cardiac and Vascular Diseases, John Paul II Hospital, Krakow, Poland, presented the expanded 24 month follow-up results from the PARADIGM-Extend Clinical Study utilizing CGuard EPS at EuroPCR 2018, in Paris on May 24, 2018. PARADIGM-Extend is the continuation of PARADIGM, an investigator-led clinical study evaluating the use of CGuard EPS in patients with symptomatic or asymptomatic carotid artery stenosis with increased stroke risk. The latest results include 251 patients, which is more than double the patient population of 101, which was previously reported in December 2017. Overall cumulative data showed no major strokes in the peri-procedural or post-procedural period up to 30 days. There was one minor peri-procedural stroke, and only one death, non-device related, at 30 days. These results are consistent with earlier reported data in the first patient cohort. Importantly, there were no stroke or stroke-related deaths between 12 and 24 months. Professor Musialek, commented, "The 24-month clinical and duplex ultrasound evidence is consistent with the unprecedented, sustained safety and cerebral embolism prevention efficacy of CGuard EPS in both symptomatic and asymptomatic patients with carotid stenosis."

07:41 EDT Accuray's TomoTherapy system shows benefits in total body irradiation studies - Accuray announced recently published data from two new studies demonstrating the benefits of the TomoTherapy System in the delivery of total body irradiation, a procedure commonly used to prepare patients being treated for leukemia and multiple myeloma for a bone marrow transplant. TBI involves irradiation of the entire body, elevating the need for precision. In one study, the clinical team found that the TomoTherapy platform enabled treatment of the entire body in only two segments, the upper body and the lower body, and a highly conformal and homogeneous dose distribution was achieved throughout the body including at the junction between the upper and lower body fields. In a second study, clinicians used TomoHelical to simultaneously deliver TBI and a targeted radiation dose boost to total marrow, central nervous system, and disease sites outside of the bone, to improve outcomes for high-risk or refractory/relapsed patients with leukemia; all evaluable patients achieved sustained, full donor stem cell engraftment. One-year overall survival and disease free-survival rates following implantation were both reported as 70.7%. No patients experienced recurrent disease after a median follow-up of 14.6 months.

07:39 EDT Arrowhead completes enrollment for ARO-HBV study - Arrowhead announced that it has completed enrollment and dosing of all 5 planned cohorts of healthy adult volunteers in the single-ascending dose portion of its ongoing Phase 1/2 study of ARO-HBV, the company's third generation subcutaneously administered RNA interference, or RNAi, therapeutic being developed as a potentially curative therapy for patients with chronic hepatitis B virus, or HBV, infection. The company intends to submit a late-breaking abstract with initial clinical data on ARO-HBV to the Liver Meeting 2018, the Annual Meeting of the American Association for the Study of Liver Disease, or AASLD, being held in November. AROHBV1001 is a Phase 1/2 study evaluating the safety, tolerability, and pharmacokinetic effects of single-ascending doses, or SAD of ARO-HBV in healthy adult volunteers, and evaluating the safety, tolerability, and pharmacodynamic effects of multiple-ascending doses, or MAD, of ARO-HBV in patients with chronic HBV. The SAD portion included 5 cohorts of 6 subjects per cohort. Each SAD subject received a single-dose administration of either placebo or ARO-HBV at dose levels of 35, 100, 200, 300, or 400 mg. The MAD portion, which is ongoing, is designed to include up to 8 cohorts of 4 HBV patients per cohort. Each MAD patient will receive 3 doses of ARO-HBV at up to 4 dose levels. The first 2 MAD cohorts at doses of 100 mg and 200 mg have been fully enrolled and the company anticipates that the third cohort at a dose of 300 mg will be enrolled shortly.

07:38 EDT Dick's Sporting reports total inventory down 3.8% at end of Q1 - Total inventory decreased 3.8% at the end of the first quarter of 2018 as compared to the end of the first quarter of 2017.

07:37 EDT Mustang Bio announces publication of preclinical data on CAR T Cells potency - Mustang Bio (MBIO), a Fortress Biotech (FBIO) company focused on the development of novel immunotherapies based on proprietary chimeric antigen receptor engineered T cell, or CAR T, technology, announced the publication of preclinical data demonstrating that glioblastoma, or GBM,-targeted CD4+ CAR T cells mediate superior antitumor activity over CD8+ CAR T cells. The results were published in the May 17, 2018, edition of JCI Insight, a peer-reviewed journal of the American Society for Clinical Investigation. Mustang licensed the IL13Ralpha2-specific CAR technology used in this preclinical study from the City of Hope National Medical Center.

07:36 EDT Rigel Pharmaceuticals appoints Dean Schorno as CFO - Rigel Pharmaceuticals has appointed Dean Schorno, CPA as CFO and Executive VP. Schorno was formerly the CFO and Head of Operations at 23andMe, a consumer genetics and research company, where he has been CFO since 2015.

07:34 EDT Dick's Sporting sees FY18 SSS about flat to low single-digit decline - Consolidated same store sales are currently expected to be in the range of approximately flat to a low single-digit decline on a 52-week to 52-week comparative basis, compared to a decline of 0.3% in 2017.

07:32 EDT Oragenics reports interim safety analysis results from Phase 2 AG013 trial - Oragenics announced results from its interim safety analysis as requested by FDA on patients from its Phase 2 clinical trial of AG013 for the treatment of OM. The study provides information that, we believe, likely indicates that the overall incidence of severe OM is less than would be anticipated in the general population. The Phase 2 trial is a double-blind, placebo-controlled, 2-arm, multi-center trial in which approximately 200 patients will be randomized in a 1:1 ratio to receive either placebo or AG013. Safety was evaluated on the basis of treatment-emergent adverse events, vital signs, weight, physical examinations, clinical laboratory assessments and the presence of AG013 in whole blood. Tolerability measures were collected from the patient diaries. In addition, the reasons for study treatment discontinuation were also summarized. To date, 24 patients have been randomized and 19 patients included in the safety evaluation. Following review of the data by an independent Data Safety Monitoring Board, it was concluded that the clinical trial can proceed with no changes to the study. The data analysis indicated that the distribution of adverse events were similar between AG013 and placebo. The serious adverse events reported were consistent with those commonly reported in a head and neck cancer population receiving traditional chemoradiation therapy treatments and included fevers, neutropenia, anemia, nausea and vomiting, infections and oral (mouth and throat) pain. There were no reports of bacteremia or sepsis. Of patients that discontinued participation in the clinical study, 4 patients experienced adverse events, including 3 patients who developed nausea and vomiting, 2 patients that were non-compliant with the study procedures and 3 patients developed severe OM. The purpose of the Phase 2 study is to evaluate the efficacy, safety and tolerability of topically administered AG013 compared to placebo for reducing the incidence and severity of OM in patients undergoing traditional chemoradiation for the treatment of head and neck cancer. Key measures include as measured by the duration, time to development, and overall incidence of OM during the active treatment phase, beginning from the start of chemoradiation therapy until 2 weeks following its completion.

07:30 EDT Michael Kors CEO says will continue to explore acquisitions - John D. Idol, the company's Chairman and CEO said: "Looking to fiscal 2019, we have a number of initiatives planned to drive growth in both of our luxury brands. For Michael Kors, we expect growth to be led by our retail business, as we remain focused on executing initiatives across fashion luxury product, brand engagement and customer experience. For Jimmy Choo, we will continue to make strategic investments to expand our retail fleet globally, capitalize on the significant opportunity to grow our accessories business and increase brand engagement through glamorous red-carpet marketing communications. Additionally, we will continue to explore acquisitions to complement our existing luxury portfolio. Overall, we are well-positioned to deliver long-term growth and enhance shareholder value by executing on the strategies in place for both Michael Kors and Jimmy Choo."

07:25 EDT Amazon expands Prime benefit at Whole Foods to 12 additional states - Amazon said that starting today, Prime member savings are expanding to an additional 121 Whole Foods Market stores across 12 states -- including northern California, Colorado and Texas -- plus all Whole Foods Market 365 stores nationwide. Prime members will receive an additional 10% off sale items, typically hundreds of products throughout the store, plus exclusive weekly deep discounts on select popular items. These savings are currently available at Whole Foods Market stores in Arkansas, Colorado, Florida, Idaho, Kansas, Kansas City, Missouri, Louisiana, New Mexico, northern Nevada, northern California, Oklahoma, Texas, Utah and at Whole Foods Market 365 stores nationwide. Prime member deals will be prominently featured in store. Customers also receive these exclusive Prime member savings when they have their groceries delivered from Whole Foods Market stores via Prime Now. Both Prime member savings and Prime Now grocery delivery are available in Austin, Dallas, Denver, Sacramento and San Francisco. Prime Now offers free two-hour delivery on orders over $35. Delivery from Whole Foods Market will continue expanding throughout 2018.

07:18 EDT Movado up 10% to $46.25 after Q1 results top estimates, FY19 guidance raised

07:16 EDT Del Taco plans strategic expansion across Orlando - Del Taco Restaurants said that while it currently has two restaurants opened in Florida, and with 10 more locations to open over the next several years, the brand sees Orlando as one of its next major expansion areas.

07:12 EDT Aclaris Therapeutics issued additional Orange Book listable patent for Eskata - Aclaris Therapeutics announced the United States Patent and Trademark Office has issued U.S. Patent No. 9,980,983 covering methods of treating seborrheic keratosis using a stabilized hydrogen peroxide composition. This issued U.S. patent will be listed in the Orange Book for ESKATA and is set to expire in April 2035, subject to any patent term adjustment or extension. The patent contains 25 claims directed to methods of treating seborrheic keratosis by administering a 40% w/w stabilized hydrogen peroxide composition. Our current marketed product, ESKATA, includes such stabilized hydrogen peroxide. Aclaris' ESKATA patent estate also includes two other Orange Book listed patents as well as a patent application directed to particular applicators used to administer high-concentration hydrogen peroxide formulations, including 40% and 45% topical solutions of hydrogen peroxide. Internationally, Aclaris has filed applications in Europe and other major foreign countries directed to high-concentration hydrogen peroxide formulations, including 40% and 45% topical solutions of hydrogen peroxide, methods for using such solutions, and applicators therefor.

07:07 EDT Panasonic to develop cobalt-free car batteries, Reuters reports - Panasonic (PCRFY) has it is prepared to develop cobalt-free car batteries due to the raised prices of the element, according to Reuters. Battery makers are all looking for alternatives with cobalt prices multiplying over the years, with some saying zero usage is attainable in the near future. Panasonic is the exclusive battery cell supplier for Tesla's (TSLA) Model 3 sedan.Reference Link

07:05 EDT Sage Therapeutics announces FDA acceptance for its NDA for PPD - Sage Therapeutics announced that the FDA has accepted the filing of a new drug application, or NDA, for Sage's lead product candidate, an intravenous formulation of brexanolone for the treatment of postpartum depression, or PPD. The NDA was granted priority review status and the FDA assigned a Prescription Drug User Fee Act, or PDUFA, target date of December 19. As expected for a new molecular entity with a new mechanism of action, the FDA is currently planning to hold an advisory committee meeting to discuss the brexanolone IV application. If approved, brexanolone IV would be the first medication indicated for the treatment of PPD and would be Sage Therapeutics' first commercial product. The FDA grants priority review to investigational therapies that, if approved, may offer significant improvements in the treatment, prevention or diagnosis of a serious condition. Brexanolone IV received breakthrough therapy designation in September 2016, underscoring the significant unmet need in women with PPD.

07:03 EDT Axovant Sciences hires CMO of Allergan to join Axovant as EVP of R&D - Axovant Sciences (AXON) yesterday announced that Gavin Corcoran will join the company as Executive Vice President of Research & Development. Corcoran currently serves as Chief Medical Officer at Allergan plc (AGN) and previously served as Chief Medical Officer of Actavis. Axovant also announced that Michael Hayden has been appointed as a senior scientific advisor to the company and Chairman of Axovant's newly established Scientific Advisory Board. Hayden recently served as President of Global R&D and Chief Scientific Officer at Teva (TEVA). Pavan Cheruvu, CEO of Axovant, said, "Since starting as CEO in February, I have been focused on transforming Axovant into a leaner organization, introducing heightened standards of quality and excellence throughout the business, and establishing a new pipeline strategy. We are now poised for growth, and I am excited to have Gavin and Michael join us as we look toward expanding our pipeline in the coming months." Additionally, the company said that beginning in February 2018, Axovant initiated an organizational restructuring to simplify its organization, reduce costs, and streamline business processes in preparation for future business development activities. Overall, internal headcount has decreased by approximately 43%, and Axovant has increased its use of the Roivant platform to supplement internal capabilities. Forward-looking G&A expenses are expected to decrease in the current fiscal year. Most of the affected employees were transferred to roles within the Roivant family of companies, Axovant noted.

07:01 EDT SQream raises $26.4M in strategic Series B funding round led by Alibaba Group - SQream, developer of SQream DB, the leading GPU database for analyzing massive data stores at a fraction of the cost, announced that it has raised $26.4M in Series B funding. The latest round was led by Alibaba Group with participation from existing and new investors including Hanaco Venture Capital, Sistema.vc, World Trade Ventures, Paradiso Ventures, Glory Ventures, and Silvertech Ventures.

06:55 EDT Michael Kors reports Q4 comparable sales up 2.3%

06:51 EDT Bank of Montreal receives regulatory approval for NCIB - Bank of Montreal announced that it has received approvals from the Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions Canada to proceed with its previously-announced normal course issuer bid through the facilities of the TSX as well as through other alternative Canadian trading systems to purchase, for cancellation, up to 20 million of its common shares, commencing June 1, 2018, and ending no later than May 31, 2019. The maximum number of common shares that may be repurchased under the normal course issuer bid represents approximately 3.1% of the Bank's "public float" of common shares.

06:10 EDT Lilis Energy reports initial 24-hour well results in Eastern Texas - Lilis Energy reported that the Hippo #2H, AG Hill #1H and Meerkat #1H have reached 24-hour initial production rates. The Hippo #2H is the company's highest recorded IP per 1,000 ft. Wolfcamp B well Lilis has drilled to date, and also is the highest recorded Wolfcamp B, - IP per 1,000 ft - among offset producers in the basin. The AG Hill #1H is the furthest eastern well drilled on the company's acreage and exhibited an IP 24 consistent with the Wildhog and Prizehog wells, with an 'exceptional' oil and liquids ratio and BOPD per 1,000 ft., well above the average for the basin. The Meerkat #1H result successfully proves the viability and productivity of the Wolfcamp XY and the AG Hill #1H, along with the Wildhog and Prizehog, continues to validate the productivity of its eastern acreage. The Hippo #2H reached an IP 24 rate of 2,149 Boepd - 77% liquids -, on a three-stream basis, equivalent to 478 Boepd per 1,000 ft. The AG Hill #1H reached an IP 24 rate of 1,000 Boepd - 87% liquids -, on a three-stream basis, equivalent to 223 Boepd / 194 Bopd per 1,000 ft., a higher Bopd rate than the basin average. The Meerkat #1H reached an IP 24 rate of 1,823 Boepd - 56% liquids -, on a three-stream basis, equivalent to 393 Boepd per 1,000 ft. Lilis' 2018 drilling program is focused on the delineation of the company's acreage.

06:09 EDT RPX Corp., HGGC receive U.S. and German antitrust clearances - RPX Corp. and HGGC announced that they have received clearance from the German Federal Cartel Office in connection with the previously-announced tender offer by HGGC's affiliate, Riptide Purchaser, to purchase all outstanding shares of RPX's common stock at a purchase price of $10.50 per share, net to the seller in cash, subject to reduction for any applicable withholding taxes in respect thereof, without interest. As previously disclosed, on May 21, the United States Federal Trade Commission granted early termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended. Riptide Purchaser commenced the tender offer on May 21. The tender offer and withdrawal rights are scheduled to expire on June 18, 2018, unless extended or earlier terminated in accordance with the terms of the merger agreement by and among RPX, Riptide Purchaser and Riptide Parent. The transaction remains subject to a minimum tender condition and other closing conditions described in the Schedule TO filed on May 21, as amended, by Riptide Purchaser and in the Schedule 14D-9 filed on May 21, as amended, by RPX and is expected to close in Q2.

06:05 EDT TherapeuticsMD announces FDA approval of IMVEXXY to treat dyspareunia - TherapeuticsMD announced that the United States FDA has approved IMVEXXY (estradiol vaginal inserts) for the treatment of moderate-to-severe dyspareunia, a symptom of vulvar and vaginal atrophy, due to menopause. IMVEXXY is the only product in its therapeutic class to offer a 4 mcg and 10 mcg dose, the 4 mcg representing the lowest approved dose of vaginal estradiol available.

06:04 EDT CUI Global subsidiary secures biomethane contract valued around $1.8M - CUI Global announced that its wholly-owned Energy subsidiary, Orbital Gas Systems, has been awarded a contract valued at approximately $1.8M from a major European industrial company for three biomethane-to-grid units that includes the company's GasPT analyzer. The contract marks the third from the customer and follows the recent passage of a U.K. Government program under which tariff rates for biomethane generation were increased.

06:02 EDT Jones Lang LaSalle makes double acquisition from Aviva Investors - LaSalle Investment Management has entered into an agreement to acquire the Real Estate Multi-Manager, or REMM, business of Aviva Investors, and full ownership of the management of the Encore+ fund. Aviva's REMM business has $7 billion of assets under management. LaSalle and Aviva have entered into a binding contract and the deal is expected to close by the end of year. Together with our existing capabilities, LaSalle will be one of the top five largest global non-listed indirect real estate investment managers with combined assets under management of $10bn across all geographies and risk profiles. The division will be headed up by Ed Casal, who, as part of this acquisition, will be joining LaSalle from his current role as CEO of Real Estate at Aviva and Co-Founder of its Global Indirect Real Estate business. Ed, who will be based in New York, will also be joining LaSalle's Global Management Committee. LaSalle will also be acquiring Aviva's rights and responsibilities as the Fund Manager of Encore+, the open-ended Continental European real estate fund which has been jointly managed and run by both parties for eleven years. LaSalle will become the sole manager of Encore+ and David Ironside will become the Fund Manager. The Fund, which currently has a gross asset value of EUR 1.7 billion, was recently recognised as the best performing fund in the IPD PEPFI for 2017. It has also been the top performing fund in the index on an aggregate five-year basis.

05:46 EDT RBS announces resignation of CFO Ewen Stevenson to take another opportunity - RBS announces that Ewen Stevenson has resigned from his role as CFO and Executive Director to take up an opportunity elsewhere. The effective date of his departure will be confirmed in due course but he will remain in his position to oversee an orderly handover of his responsibilities. The search for a successor will commence immediately.

05:43 EDT FDA expedites review of Novartis drug Promacta for first-line SAA - Novartis announced that the FDA has accepted the company's supplemental New Drug Application, or sNDA, and granted Priority Review designation to Promacta in combination with standard immunosuppressive therapy, or IST, for first-line treatment of severe aplastic anemia, or SAA.

05:38 EDT Canadian Pacific, IBEW reach tentative 3-year agreement - Canadian Pacific and System Council No. 11 of the International Brotherhood of Electrical Workers, or IBEW, are pleased to announce that we have reached a tentative three-year deal. CP President and CEO Keith Creel thanked the IBEW bargaining committee for their hard work and their creativity. "We have come through a number of challenging years to become an operational leader," Creel said. "I look forward to working with this union to become the employer of choice." Senior General Chairman Steve Martin expressed that while negotiations were difficult "in the end we have reached a good deal for our membership and we're looking forward to building on the momentum of the last few days." The tentative agreement ensures that IBEW employees remain on the job and passenger operations are not impacted.