Stockwinners Market Radar for June 14, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:21 EDT Hawaiian Holdings, Japan Airlines seek antitrust immunized JV - Hawaiian Airlines and Japan Airlines have filed an application with the U.S. Department of Transportation and Japan's Ministry of Land, Infrastructure, Transport and Tourism seeking immunity from antitrust laws to create a joint venture that promises significant advantages for consumers. If approved, this will be Hawaiian's first JV, and the first JV in the United States that does not involve one of the three largest U.S. carriers.

18:56 EDT International Paper SVP sells 22,000 common shares - In a regulatory filing, International Paper senior vice president Carleton C. Ealy disclosed the sale of 22,000 common shares of the company at a price of $56.7893 per share.

18:31 EDT BHP Billiton board approves $2.9B investment in South Plank project in Pilbara - First ore from South Plank is targeted in 2021 and the project is expected to produce ore for more than 25 years. Reference Link

18:11 EDT KKR, Parkway acquire 1111 Brickell in Miami, Florida - KKR and Parkway Property Investments announced the acquisition of 1111 Brickell, a 30-story, approximately 522,000 square foot Class A office tower in the heart of Miami's dynamic Brickell submarket. The asset was purchased in a newly-formed joint venture between affiliates of KKR and Parkway. Square Mile Capital Management LLC originated the acquisition financing.

17:48 EDT Dropbox shares closed higher by 14%, continue to rise in after-market trading - Shares of collaboration platform company Dropbox closed Thursday's session higher by 14%. This past Tuesday, the company announced a new chapter in the evolution of Magic Pocket, its custom-built storage infrastructure. "The company is successfully deploying Shingled Magnetic Recording, SMR, drive technology, which will increase overall storage density, reduce the company's physical data center footprint, and provide significant cost savings without sacrificing performance or reliability. Dropbox will be the first company to test and deploy SMR technology at this scale," said Dropbox in a statement on June 12. Dropbox said at the time it, anticipates approximately a quarter of its Magic Pocket infrastructure will be on SMR drive capacity by 2019. In the coming months, the company also plans to open source the test software it created in the process, which will let other companies qualify SMR technology for their own enterprise storage environments. "Creating our own storage infrastructure was a huge technological challenge, but it's already paid dividends for our customers and our business," said Quentin Clark, SVP of Engineering, Product, and Design at Dropbox at the time. Shares closed up over 14% to $36.12 to close the regular session. Dropbox continues to trade higher in the after-market on Thursday.

17:14 EDT Key Colony Fund reports 5.3% stake in Medallion Financial - The Reporting Persons have acquired the shares of Common Stock for investment purposes because they believed that the Common Stock, when purchased, was undervalued and represented an attractive investment opportunity, and such purchases have been made in the Reporting Persons' ordinary course of business. Representatives of the Reporting Persons have, from time to time, met with, and may in the future meet with, representatives of the Issuer to discuss, among other things, matters relating to the strategic direction and operations of the Issuer.

17:11 EDT Denny's CEO sells 80,901 common shares - In a regulatory filing, Denny's president and CEO John C. Miller disclosed the sale of 80,901 common shares of the company in two transactions. The first transaction of 41,173 shares was sold at $15.7871 per share, while the second transaction of 39,728 shares was sold at $15.5934 per share.

17:07 EDT BAE Systems awarded $348M U.S. Army contract - BAE Systems Land & Armaments was awarded a $347,999,966 fixed-price-incentive-fee contract for production of up to 473 Bradley M2A4 and M7A4 vehicles, and procurement of authorized stockage list spares, and additional packages for legacy component repair using M2A3, M7A3 and Operation Desert Storm-Situational Awareness vehicles as a baseline. Bids were solicited via the Internet with one received. Work will be performed in York, Pennsylvania, with an estimated completion date of June 14, 2019.

17:01 EDT Jabil Circuit CFO Forbes Alexander to retire - Comments from Jabil Circuit earnings call.

16:52 EDT J.C. Penney sees proceeds of approximately $20M from sale of corporate aircraft - On June 8, 2018, J. C. Penney determined that a charge for impairment to the corporate aircraft assets held by J. C. Penney Corporation, Inc., a wholly-owned subsidiary of the company, was required under generally accepted accounting principles in the United States. The impairment charge is a result of the company's decision to sell its corporate aircraft and classify the assets as held for sale. The impaired assets consist of three aircraft and associated engines and parts. The Company currently estimates the total impairment charge to be approximately $50M, which represents the current expected loss on sale upon completion of disposition of the assets. The Company currently expects to receive approximately $20M in cash proceeds during fiscal 2018 from the sale of the corporate aircraft. The impairment charge will be recorded in the fiscal second quarter of 2018. The Company does not currently expect that the impairment charge will result in any significant future cash expenditures. The Company currently expects the sale of the corporate aircraft to reduce annual operating expenses approximately between $5M-$10M through reductions in depreciation and selling, general and administrative expenses.

16:48 EDT Finisar moves up 1.7% in after-hours trading after quarterly results - Shares of Finisar (FNSR) are up 1.7% or 30c per share to to $18 per share in after-hours trading. Other companies in the optical networking space include: Oclaro (OCLR), Lumentum Holdings (LITE), Viavi Solutions (VIAV), Applied Optoelectronics (AAOI), and Acacia Communications (ACIA).

16:37 EDT Adobe sees 2019 tax rates to stabilize at approximately 14% - Adobe expects fiscal year 2019 GAAP and non-GAAP effective tax rates to stabilize at a rate of approximately 14%,below its fiscal year 2017 rate of approximately 21%, and lower than the company's prior expectation of approximately18%.

16:32 EDT Systemax declares special dividend of $1.00 per share - Systemax has declared a special one-time cash dividend of $1.00 per share to shareholders of the company's common stock. The dividend will be payable on July 2 to shareholders of record as of the close of business on June 25.

16:31 EDT Verisign says Q1 closed with about 333.8M domain name registrations, up 0.4% - Verisign announced that the first quarter of 2018 closed with approximately 333.8 million domain name registrations across all top-level domains, an increase of approximately 1.4 million domain name registrations, or 0.4 percent, compared to the fourth quarter of 2017. Domain name registrations have grown by approximately 3.2 million, or 1.0 percent, year over year. The .com and .net TLDs had a combined total of approximately 148.3 million domain name registrations in the domain name base at the end of the first quarter of 2018, with an increase of approximately 1.9 million domain name registrations, or 1.3 percent, compared to the fourth quarter of 2017. The .com and .net TLDs had a combined increase of approximately 4.6 million domain name registrations, or 3.2 percent, year over year. New .com and .net domain name registrations totaled approximately 9.6 million at the end of the first quarter of 2018, compared to 9.5 million domain name registrations for the first quarter of 2017.

16:24 EDT Kellogg recalls Honey Smacks cereal citing potential Salmonella risk - Kellogg Company announced it is voluntarily recalling 15.3 oz. and 23 oz. packages of Kellogg's Honey Smacks cereal because these products have the potential presence of Salmonella. No other Kellogg products are impacted by this recall. Kellogg said it launched an investigation with the third-party manufacturer who produces Honey Smacks immediately after being contacted by the Food & Drug Administration and Centers for Disease Control regarding reported illnesses. Kellogg is asking that people who purchased potentially affected product discard it and contact the company for a full refund. Reference Link

16:17 EDT Leidos awarded Alliant 2 Government-wide Acquisition Contract from GSA - Leidos was awarded a prime contract by the General Services Administration to provide global information technology product and services under the GSA Alliant 2 Government-wide Acquisition Contract. The indefinite delivery/indefinite quantity contract has a five-year base period of performance, one five-year option, and a total ceiling value of $50B for all awardees. Leidos is one of up to 60 businesses eligible to compete for work under the contract.

16:15 EDT Ramaco Resources announces changes in financial officers, new financing - Ramaco Resources announced that its wholly owned subsidiary, Ramaco Resources, has entered into an additional $7M loan under an existing short-term credit facility with Maxus Capital Group , a commercial finance company headquartered in Cleveland, OH. The short-term line of credit is secured by certain mining equipment as collateral. Together with amounts previously drawn on this line of credit, the company has drawn a total of $12M under this equipment-based financing. The proceeds of the borrowing will be used for normal working capital requirements, as well as pay down a portion of the previous line.Ramaco Resources is an operator and developer of high-quality, low cost metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. The Company has five active mines within two mining complexes. "We are pleased to continue our relationship with Maxus who has been a valued financial partner by supplying normal working capital facilities to assist Ramaco as we have rapidly grown in 2018," said Randall Atkins, Ramaco Resources' Executive Chairman.Ramaco also announced that the company's CFO - Marc R. Solochek this week announced his intention to retire, effective July 1. Subsequent to his resignation, Mr. Solochek will continue to serve as a consultant to the company. Atkins, who has functionally overseen the financial operations of the company since inception, will additionally assume the role of Chief Financial Officer.

16:11 EDT Jabil Circuit announces additional $350M share repurchase program - Jabil announced that its board has authorized an additional share repurchase program for the purchase of up to $350M in Jabil common stock. The share repurchase authorization expires on August 31, 2019. The shares will be repurchased from time-to-time through various methods, including open market repurchases, at the company's discretion and subject to market conditions and other factors.

16:11 EDT A. Schulman shareholders approve merger with LyondellBasell - Schulma announced that during a special stockholder meeting A. Schulman stockholders approved the merger agreement under which LyondellBasell Industries N.V. will acquire all of the outstanding shares of A. Schulman common stock. A. Schulman stockholders also approved the non-binding advisory proposal regarding executive compensation related to the Merger. Upon completion of the Merger, A. Schulman stockholders will be entitled to receive $42.00 in cash and one contingent value right for each share of A. Schulman's common stock.

16:08 EDT Air Transport Services names Boeing's Laura Peterson to board - Air Transport Services Group (ATSG) announced the election of Laura J. Peterson to its board of directors, effective June 14, 2018. Peterson brings 22 years of experience in the global aerospace industry at The Boeing Company (BA), where she held a series of executive positions in aircraft sales, international business development, global strategy, government relations and homeland security. Her most recent role was Vice President, China Business Development for Boeing Commercial Airplanes, where she was responsible for Boeing's largest commercial market.

16:07 EDT ICF International awarded position on GSA Aliiant 2 IT services contract - ICF was selected to compete for up to $50B in new task orders under the U.S. General Services Administration's Alliant 2 enterprise IT services vehicle. The government-wide acquisition contract allows federal agencies to access ICF's digital and analytics expertise for IT services and solutions. The contract has a term of 10 years including one five-year base and one five-year option period.

16:06 EDT Heska, Pathway Vet Alliance announce multi-year strategic partnership - Pathway Vet Alliance announced on June 13, 2018 the formation of a new partnership with Heska. Pathway plans to align its internal diagnostic portfolio with Heska, which can provide in-house operational services like point of care blood diagnostics, digital imaging, allergy testing and more in a fully integrated and streamlined manner within Pathway systems and best practices. The multi-year strategic partnership is expected to improve the workflow efficiency of Pathway's nationwide network of veterinary hospitals through enhanced technology and medicine, allowing veterinary professionals to better expedite patient care. Heska's products and services will dovetail into Pathway's new medical technology rollouts now taking place throughout the country. These new technologies are designed to support improved efficiency and enhance patient care and experience.

15:55 EDT Axalta sells 50K spectrophotometer globally since 2005 - Axalta has sold its 50,000th spectrophotometer globally since the launch of the first generation of handheld devices for the refinish industry in 2005. "Spectrophotometers are simply a better way to match colors, and faster, right-first-time color matches mean optimised work flow processes, helping bodyshops to save time," said the company in a statement.

15:31 EDT Activision Blizzard names Kristin Binns as SVP, Chief Communications Officer - Activision Blizzard (ATVI) announced the appointment of Kristin Binns as Senior Vice President and Chief Communications Officer. Binns joins Activision Blizzard from Twitter (TWTR), where she has served as the Head of Corporate Communications since September, 2016.

15:21 EDT Samsung to expand use of renewable energy - Samsung Electronics announced its commitment to build on its strong progress of energy efficiency and operational emissions reductions to expand the use of renewable energy in its operations. Samsung Electronics' renewable energy goals are part of its ongoing efforts to demonstrate its commitment to environmental responsibility. Samsung Electronics is making a concerted effort in the United States, Europe and China - markets that are well-equipped with infrastructure for the development and transmission of renewable energy - to increase its use of renewable energy. As part of this effort, Samsung plans to source renewable energy for 100% of the energy used for all of its factories, office buildings, and operational facilities in the United States, Europe and China by 2020. In the medium to long-term, the company will seek to further increase its use of renewable energy around the world. In Korea, Samsung Electronics fully supports the government's national strategic plan to increase the country's renewable energy use by 20% by 2030. Beginning this year, as an initial commitment, Samsung will additionally install approximately 42,000 of solar panels in Samsung Digital City, its headquarters in Suwon. The company will continue to add approximately 21,000 of solar arrays and geothermal power generation facilities beginning 2019 in its Pyeongtaek campus and 2020 in its Hwaseong campus. With these efforts in place, Samsung Electronics is positioned to increase its use of renewable energy globally to match the equivalent amount of energy created by an average 3.1GW solar power plant by 2020. This amount of electricity is comparable to the annual energy consumption of about 115,000 four-person Korean households. As part of its extended strategy, Samsung Electronics will also engage its partners across the supply chain.

14:05 EDT LKQ Corp. CEO Dominick Zarcone buys 3,000 shares of company stock - LKQ Corp. CEO Dominick Zarcone disclosed in a filing that he had purchased 3,000 shares of company stock at an average price of $33 per share for a total transaction value of $98,998 on June 14.

13:48 EDT Baidu, China Mobile announce strategic cooperation for telecommunications - Baidu (BIDU) and China Mobile (CHL) announced a comprehensive strategic cooperation in frontier areas such as artificial intelligence, big data and 5G, leveraging their respective core strengths therein. Baidu chairman and CEO Robin Li, China Mobile chairman Bing Shang and senior executives from the two companies attended a signing ceremony in Beijing. In addition to the in-depth cooperation in network traffic, channels and basic services, the two companies will use Baidu's leading technologies and algorithms in the areas of image recognition, voice recognition and natural language processing to explore creative applications of AI in the telecommunications industry. The two companies will explore the emerging field of autonomous driving and the commercialization of AI in intelligent devices and connected homes. In the future, the cooperation aims to bring China Mobile into Baidu's Apollo platform, develop the connected car market and explore the integration of DuerOS into intelligent vehicle systems. Under the cooperation, users can enjoy discounted data plans for 13 Baidu products, including Baidu App, iQIYI and Baidu PostBar. This offering is expected to be officially launched as soon as the end of June.

13:37 EDT Twitter shares hit over three year high, rally 5.6% to $46.52

13:12 EDT Motorcar Parts 'not satisfied' with year-end profitability - Says achieved "record" sales for Q4 and FY18. Says "not satisfied" with year-end profitability. Says intends to launch new product lines later this fiscal year. Says beginning months of FY19 were weak, but sees improving fundamentals. Comments taken from Q4 earnings conference call.

12:32 EDT National Fuel raises quarterly dividend to 42.5c per share - The National Fuel Gas Company board approved a 2.4% increase in the dividend on the company's common stock, raising the quarterly rate from 41.5c per share as approved in June 2017 to 42.5c per share for an annual rate of $1.70 per share. This dividend is payable July 13, to shareholders of record at the close of business on June 29.

12:15 EDT General Finance beneficial owner Ronald Havner Jr. buys 30K shares - Ronald Havner Jr. ,a beneficial owner of General Finance, disclosed in a filing, that he had purchased 30,000 shares of General Finance common stock on June 13 at an average price of $11.38 per share.

12:11 EDT CMP, Hydro-Quebec announce 'successful conclusion' of contract negotiations - Hydro-Quebec and Central Maine Power Company, or CMP, a subsidiary of Avangrid, jointly announced the successful conclusion of contract negotiations with the Massachusetts electric distribution companies, or EDCs, for the New England Clean Energy Connect, or NECEC, 100% hydropower project. The Massachusetts EDCs will next file the agreements with the Massachusetts Department of Public Utilities, pursuant to the Massachusetts 83D Clean Energy Request for Proposals.

12:00 EDT Culp, Inc. falls -13.6% - Culp, Inc. is down -13.6%, or -$4.17 to $26.57.

12:00 EDT Vivint Solar rises 9.0% - Vivint Solar is up 9.0%, or 40c to $4.85.

12:00 EDT HUYA rises 10.9% - HUYA is up 10.9%, or $4.26 to $43.20.

11:48 EDT Transcontinental Realty to enter into JV with NYSE financial institution - Transcontinental Realty Investors announces it has executed the appropriate documents associated with two proposed major transactions. The Dallas-based real estate investment company is planning on entering into a strategic Joint Venture, and in an unrelated transaction plans to sell its 4 major commercial buildings. Transcontinental Realty Investors has entered into a Joint Venture with a major New York Stock Exchange financial institution. This joint venture agreement conveys existing multifamily assets as well as projects under development to a newly-formed entity called Victory Abode Apartments, LLC. The assets involved include 41 existing properties and 12 properties under development encompassing 8,082 apartment units, with the rights to jointly develop 23 additional projects. The appropriate request has now been submitted to HUD and will likely be finalized this summer, pending formal approval. Transcontinental's second major strategic transaction of the year is the planned sale of its 4 commercial office buildings to a private company with significant real estate holdings. A formal contract has been executed and is subsequent to due diligence; however TCI has ascertained reasonable assurances that the purchaser has both significant real estate expertise and has the appropriate financial backing to complete the transaction. The sale of these four commercial assets is tied to the NOI calculation at the end of the approximately 45 day due diligence period. "Given our previously announced increase in occupancy, TCI is confident that the asset values will remain attractive to all parties."

11:20 EDT Trump says he won't settle foundation lawsuit brought by New York - President Trump said via Twitter, "The sleazy New York Democrats, and their now disgraced (and run out of town) A.G. Eric Schneiderman, are doing everything they can to sue me on a foundation that took in $18,800,000 and gave out to charity more money than it took in, $19,200,000. I won't settle this case!... ....Schneiderman, who ran the Clinton campaign in New York, never had the guts to bring this ridiculous case, which lingered in their office for almost 2 years. Now he resigned his office in disgrace, and his disciples brought it when we would not settle."

11:10 EDT Baidu, BMW China partner to develop vehicle connectivity solutions - Baidu (BIDU) announced that it has signed an agreement with BMW China (BMWYY) to develop the next generation Internet of Vehicles solutions that connects vehicles with smart home devices. Baidu and BMW China will develop advanced solutions to connect cars and smart home devices in their initial efforts to create a more seamless home and in-vehicle experience. Consumers can control their vehicles remotely from their homes by sending voice instructions, such as turning on the ventilation, checking fuel level, locking car doors and more. In addition, the connected system can help drivers plan their journeys by checking relevant travel information stored online, determining efficient travel routes and reporting current traffic conditions. Key executives leading the partnership include: Zhenyu Li, VP and general manager of Baidu's Intelligent Driving Group; Markus Seidel, VP of BMW China; Sabine Hatz, senior manager of strategy, digital products & services, digitalization customer interface at BMW China; Guobin Shang, director of Baidu Intelligent Driving Group; Su Tan, general manager of Internet of Vehicles Division at Baidu's Intelligent Driving Group

10:55 EDT Ford introduces 2019 Transit Connect Taxi, 2019 Fusion Hybrid Taxi - Ford introduces two new taxis: the new 2019 Transit Connect Taxi and the 2019 Fusion Hybrid Taxi. Transit Connect Taxi, when equipped with available 1.5-liter EcoBlue diesel engine, is targeted to return an EPA-estimated Highway rating of at least 30 mpg. Actual mileage will vary. Final EPA-estimated ratings available early 2019. The first-ever Fusion Hybrid Taxi shares parts with the Ford Police Responder Hybrid for improved durability in a livery duty cycle. For Fusion Hybrid Taxi, Ford is projecting EPA-estimated ranges comparable to that of the Ford Police Responder Hybrid.

10:29 EDT NYSE to commence proceedings to delist China Zenix Auto shares - The New York Stock Exchange announced that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares, each representing four ordinary shares, of China Zenix Auto International Limited -- ticker symbol ZX -- from the NYSE. Trading in the company's ADSs will be suspended immediately. "The determination to delist the company was based on an investigation conducted by NYSE Regulation that brought to light the existence of events that made further dealings or listing of the securities on the Exchange contrary to the public interest and not in keeping with sound public policy...The company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the ADSs upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff's decision," NYSE stated.

10:18 EDT Oracle slides as JPMorgan cuts rating on business lost to Amazon, Microsoft - Shares of Oracle (ORCL) are sliding after JPMorgan analyst Mark Murphy downgraded the stock to Neutral, citing negative results from a survey of Chief Information Officers about their spending. The analyst noted that the survey showed spending contraction ahead as Oracle's databases are being unplugged in favor of Microsoft (MSFT) and Amazon (AMZN) databases. SURVEY SAYS: In a research note this morning, JPMorgan's Murphy downgraded Oracle to Neutral from Overweight as specific metrics in the firm's large-scale CIO survey have arced over into negative territory. The analyst told investors that while Oracle's shares have risen from the $30s into the high $40s in the last 2 years, the company's fundamental performance has remained inconsistent. Citing his survey of 154 CIOs, Murphy noted that Oracle received the largest number of indications for planned spending contraction this year, materially more than the second-worst company, which was IBM (IBM) with 25 indications of spending contraction. Further, while ranking the top 8 or 9 mega-vendors in terms of who will be most critical and indispensable to CIOs' IT environment in the future, Oracle only received 6.5% of votes, down from 11% in previous surveys, the analyst highlighted. At the same time, Murphy pointed out that Amazon AWS improved from 9.5% of votes last year to 14.9% of votes this year, creating the appearance of a "sucking sound" out of Oracle and into AWS. The company also ranked number 8 in terms of association with Digital Transformation projects, disappointing relative to its scale and lagging behind the likes of SAP (SAP), IBM, and Cisco (CSCO), he added, noting that despite Oracle's efforts to build a Cloud presence, it rated no better than SAP in terms of association with Cloud Computing plans, and is nowhere close to the leaders Microsoft, Amazon, and Google (GOOGL; GOOG) in this respect. Oracle was mentioned by only 2% of the CIOs as the platform that will be "most integral" to their cloud computing plans, Murphy said. Overall, the analyst questions where Oracle's business and stock are heading in the next couple of years if the largest-scale CIO survey shows Oracle now has negative spending intentions, is lagging in Digital Transformation projects, is trailing in Cloud Computing plans, its databases are being unplugged in favor of Microsoft and Amazon databases, its applications are being unplugged in favor of Salesforce (CRM) and Workday (WDAY) applications, and customers are weary of its unpopular commercial tactics. Murphy also lowered his price target on Oracle's shares to $53 from $55. WHAT'S NOTABLE: In a research note of his own, Nomura Instinet analyst Christopher Eberle lowered his price target for Oracle to $60 from $64 ahead of the company's fourth quarter results on June 19. The analyst trimmed his estimates to account for currency and expectations for more modest revenue acceleration in fiscal 2019. He remains optimistic, however, on Oracle's transition and model growth reacceleration as the year progresses. Eberle reiterated a Buy rating on the shares. PRICE ACTION: In morning trading, shares of Oracle dropped almost 5% to $46.14.

10:07 EDT Allergan climbs as drugmaker names former Abbott executive to board - Shares of Allergan (AGN) climbed higher on Thursday after the company appointed a former Abbott (ABT) executive to its board of directors. The appointment comes just a week after Carl Icahn built a small position in the company and two other shareholders urged the separation of the chairman and chief executive officer roles. ALLERGAN NAMES FREYMAN TO BOARD: Allergan announced this morning that Thomas Freyman, a former executive vice president of finance and administration at Abbott Laboratories, will join the company's board of directors with immediate effect. Freyman will replace Patrick O'Sullivan, who is retiring in July. Allergan's board will continue to have 12 members, 10 of which are independent, following the changes. ICAHN STAKE: Last week, Bloomberg reported that Carl Icahn has taken a small stake in Allergan as the drugmaker plans to spin off its women's health and antibiotic businesses. While Icahn's motivation and size of the stake had not been learned, he has had a long history with company Chief Executive Officer Brett Saunders. Icahn previously held a stake in the drugmaker, disclosing a holding in 2016, but sold that position in the first quarter of 2017. RECENT SHAREHOLDER CRITICISM: Also last week, David Tepper's Appaloosa and Senator Investment Group issued public a letter to Allergan's Board of Directors, in which they renewed their calls for the company to separate the CEO and chairman roles, saying in a public letter "It is now clear that fresh thinking is absent from the current regime, thus explaining the market's complete loss of confidence in the stock. To that point, we reiterate our strong suggestion that at a minimum the company split the office of CEO and chairman; retain a new chairman or CEO from outside the company; replace at least two additional directors on the current Board; and upgrade management personnel in critical operating units." Appaloosa and Senator's letter followed two previous letters in April and May which raised concerns over the company's "substantial value destruction" and urged Allergan to take immediate steps to correct it. Wells Fargo analyst David Maris said the level of engagement from the two prominent activist funds could be a positive for Allergan and the shares, especially if it results in improved investor confidence in the credibility of the company's future. The analyst said he thinks Allergan will be responsive to the activism and agree to separate the roles of chairman and CEO. ALLERGAN DIVESTING UNITS: In late May, Allergan announced plans to sell its Women's Health Business and Infectious Disease business following its ongoing strategic review is good news, which Wells Fargo's Maris said at the time was "good news." CEO Saunders said the company decided to divest the units after deciding against a company split, deciding instead to prioritize R&D and external investments in four core therapeutic areas. PRICE ACTION: Shares of Allergan are up 1.5% in morning trading to $172.90.

10:05 EDT Sage drops 3% after inking Asian market collaboration - Shares of Sage Therapeutics are moving lower after the company last night announced a strategic collaboration with Shionogi & Co. for the clinical development and commercialization of SAGE-217 for the treatment of major depressive disorder and other indications in Japan, Taiwan and South Korea. Under the terms of the agreement, Shionogi will be responsible for all clinical development, regulatory filings and commercialization of SAGE-217 for MDD, and potentially other indications, in Japan, Taiwan and South Korea. Shionogi will make an upfront payment to Sage of $90M, and Sage will be eligible to receive additional development and commercial milestones of up to $485M. Sage will receive tiered royalties on sales of SAGE-217 in Japan, Taiwan and South Korea, if development efforts are successful, with tiers averaging in the greater than 20% range. Shares of Sage are down 3% to $164.84 in early trading. Investors may be wondering if the deal pushes out the timeline of a potential takeover, EP Vantage said on Twitter. The firm, though, views the $90M upfront as "impressive" given the region and thinks Sage's takeout thesis "remains intact." Reference Link

10:02 EDT Nektar presents NKTR-181 data showing 'consistently low abuse potential' - Nektar Therapeutics announced that new clinical and preclinical data for NKTR-181 were presented this week at the 80th Annual Scientific Meeting of the College on Problems of Drug Dependence in San Diego, California. NKTR-181 is a new molecular entity and the first analgesic opioid molecule to exhibit a reduced incidence of specific CNS-mediated side effects, such as euphoria, through the targeted alteration of brain-entry kinetics. "We are privileged that these meaningful new data from our clinical trials, as well as our translational research, were recognized for oral presentation at the prestigious CPDD meeting," said Steve Doberstein, Ph.D., SVP and Chief Research and Development Officer of Nektar Therapeutics. "The data presented show that NKTR-181 demonstrates consistently low abuse potential when we look at a range of measurements used to understand potential abuse liability of investigational medicines including the MADDERS assessment. In addition, we demonstrated in our preclinical research that NKTR-181 has a unique neuropharmacodynamic profile with slow brain uptake and a blunted dopamine response as compared to oxycodone." Nektar recently submitted a New Drug Application for NKTR-181 for the treatment of chronic low back pain in adult patients new to opioid therapy. The NDA is supported by an extensive clinical and nonclinical data package. The clinical data submitted in the NDA comprised 15 studies in 2,234 subjects and includes: a 600-patient efficacy study in patients with chronic low back pain who are new to opioid therapy; a 630-patient long-term 52-week safety study in patients with noncancer pain, who are new to opioid therapy, as well as those who are experienced with opioid therapy; pharmacokinetic/pharmacodynamic studies in over 450 subjects; and two human abuse potential studies evaluating both therapeutic and supratherapeutic doses of NKTR-181 versus an oxycodone control in recreational drug users.

10:00 EDT Bitauto falls -11.0% - Bitauto is down -11.0%, or -$3.00 to $24.28.

10:00 EDT Tailored Brands falls -20.6% - Tailored Brands is down -20.6%, or -$6.88 to $26.57.

10:00 EDT BRF S.A. rises 7.5% - BRF S.A. is up 7.5%, or 40c to $5.72.

09:54 EDT Polymet Mining trading halted, news pending

09:47 EDT Bitauto falls -9.0% - Bitauto is down -9.0%, or -$2.44 to $24.84.

09:47 EDT Zuora rises 3.3% - Zuora is up 3.3%, or 99c to $30.73.

09:47 EDT BRF S.A. rises 7.9% - BRF S.A. is up 7.9%, or 42c to $5.74.

09:27 EDT Hill International receives $9M amendment for Metro Gold Line Foothill Extension - Hill International announced that it received Amendment No. 2 to continue to provide program management services to the Metro Gold Line Foothill Extension Construction Authority in support of the award-winning Foothill Gold Line Extension project - Glendora to Montclair. The fee for services will not exceed $9 million under a total contract amount of $27.5 million. The Glendora to Montclair Foothill Gold Line extension project will extend the light rail line by 12.3 miles and add 6 passenger stations, relieve congestion in the Los Angeles metropolitan area, and drive transit-oriented development. Phase 2B of the extension recently broke ground, with Hill providing program and construction management services.

09:18 EDT Wipro awarded cargo management contract by LATAM Cargo - LATAM Cargo and Wipro Limited announced a partnership for a multi-year cargo management engagement. Wipro will deploy its end-to-end cargo management system CROAMIS for LATAM Cargo as part of this engagement.

09:09 EDT Regions Financial increases prime lending rate to 5% from 4.75% - Regions Bank announced it is increasing its prime lending rate to 5% from 4.75%.

09:07 EDT Hasbro, Rhett & Link announce multi-year relationship - Hasbro and the comedy duo Rhett & Link announced a multi-year relationship committed to bringing Hasbro's games to life in 2018 and beyond. The comedy duo,have more than 211M subscribers and have amassed more than 5 B views on their videos since debuting on YouTube in 2006. To pique the interest of Rhett & Link subscribers and gaming fans alike, Hasbro and the pair will create content to launch Hasbro's new games on the duo's daily episodic YouTube series, Good Mythical Morning.

09:04 EDT Equifax names Bryson Koehler as Chief Technology Officer - Equifax (EFX) announced that it has named Bryson Koehler to serve as its Chief Technology Officer. Koehler, who previously served as CTO at IBM (IBM) Watson and Cloud Platform, will be responsible for leading Equifax's global information technology strategy and development. Koehler will also work closely with the company's product, data, and analytics teams to drive technology and speed into product and data insights delivery to customers and partners.

09:02 EDT Baker Hughes wins contract for turbomachinery equipment at Cheniere facility - Baker Hughes (BHGE), a GE company, will supply turbomachinery equipment for the expansion of Cheniere's (LNG) LNG facility in Corpus Christi, Texas. Cheniere announced a positive Final Investment Decision and the plan to issue a full notice to proceed to continue construction on the third liquefaction train at Cheniere's Corpus Christi liquefaction project. According to the company, this represents the first FID on new liquefaction capacity in the United States since 2015. When all three trains are completed, the aggregate nominal production capacity of the CCL Project is expected to be approximately 13.5 MTPA of LNG. Cheniere appointed Bechtel as their Engineering, Procurement and Construction partner for the project, and Bechtel Oil, Gas & Chemicals, Inc. (Bechtel) contracted BHGE to provide turbomachinery equipment for the third train consisting of six PGT25+G4 DLE gas turbines driving various compressors. BHGE has provided the same equipment for two other trains already under construction at Corpus Christi, and similar technology for five trains at Cheniere's Sabine Pass plant.

08:53 EDT On The Fly: Pre-market Movers - HIGHER: Etsy (ETSY), up 14% after introducing new tools, revising fee structure and updating FY18 guidance... Teligent (TLGT), up 17% after FDA approval of the company's abbreviated new drug application for Diflorasone Diacetate Ointment. DOWN AFTER EARNINGS: Tailored Brands (TLRD), down 16%... Michaels (MIK), down 17%. ALSO LOWER: Oracle (ORCL), down 2.5% after JPMorgan analyst Mark Murphy downgraded the stock to Neutral from Overweight... Aqua Metals (AQMS), down 9% after the company filed to sell common stock.

08:48 EDT Royal Caribbean expects $50M in synergies from Silversea Cruises partnership - Says Silversea Cruises investment complements current offerings and provides tremendous opportunity for growth. Says will be able to offer all-suite, all-inclusive ultra luxury trips for customers. Says partnership provides immediate access to burgeoning luxury and expedition markets and opportunity for long-term capacity growth. Says believes company can leverage global footprint of combined companies to generate demand and increase vacation and destination options. Says believes can drive meaningful savings in a number of areas. Says expects transaction to elevate leverage 'a little bit'. Says expects significant synergies by leveraging global footprint, supply chain, purchasing power and other economies of scale. Expects at least $50M of synergies through partnership. Says bookings for Q3, Q4 remain strong. Comments taken from Royal Caribbean conference call.

08:38 EDT SG Blocks secures 6,000-square-foot retail project in South Carolina - SG Blocks has secured a 6,000-square-foot retail project with Gather GVL, an eco-friendly food and beverage venue in Greenville, South Carolina. SG Blocks will be designing, fabricating and delivering 23 modules, utilizing six containers and 17 purpose-built intermodal container framing systems. The modules will house a vibrant social venue and include burger, pizza, taco and sushi restaurants as well as a taproom, wine bar and coffee bar. Gather GVL will break ground in early July and is scheduled to be completed and open to the public by the end of the year.

08:35 EDT OSI Systems receives orders from European distribution partners for $10M - OSI Systems announced that its security division received orders from one of its European distribution partners for approximately $10M to provide multiple units of its RTT 110 Explosive Detection System, or EDS, for parcel screening applications. The RTT employs a proprietary solid-state approach to provide high-resolution 3-D imaging, and its design allows the inspection of hold baggage and air cargo. RTT has passed the European Civil Aviation Conference's, or ECAC, HBS EDS Standard 3 threat detection requirement and has been deployed by numerous airports and air logistics providers.

08:33 EDT BioMarin doses first participant in Phase 2 study of achondroplasia candidate - BioMarin dosed the first participant in a global Phase 2 study for vosoritide, an analog of C-type Natriuretic Peptide, in infants and young children with achondroplasia, the most common form of disproportionate short stature in humans. The Phase 2 study is a study of vosoritide in approximately 70 infants and young children with achondroplasia ages zero to less than 60 months for 52 weeks. The study will be followed by a subsequent open-label extension. The primary objectives of the study are to evaluate safety, tolerability, and the effect of vosoritide on height Z-scores, which is the number of standard deviations in relation to the mean height of age-matched, average stature children. Vosoritide has been granted orphan drug designation in both the United States and Europe.

08:16 EDT Etsy up 10% to $36.20 after revised fee structure, FY18 updated guidance

08:13 EDT E-Trade reports May DART up 20% y/y - E-Trade released its Monthly Activity Report for May. Daily average revenue trades, or DARTs, for May were 253,649, a 1% increase from April and a 20% increase from the year-ago period. Derivatives represented 34% of DARTs during the month. The company added 40,261 gross new brokerage accounts in May and ended the month with approximately 3.9M brokerage accounts-an increase of 22,228 from April. Net new brokerage assets were $1.4B in the month. During the month, customer security holdings increased by $14.4B, and brokerage-related cash increased by $600M to $52.5B. Customer margin balances increased $100M, ending the month at $10.5B. Customers were net buyers of approximately $400M in securities during the month.

08:12 EDT Motorcar Parts says FY18 results negatively impacted by 28c from tax reform - Motorcar Parts has evaluated its net income tax expense as a result of the December 2017 Tax Reform Act which reduces its federal corporate income tax rate to 21 percent from 35 percent, among other factors. The company estimates its effective tax rate commencing in fiscal 2019 will be reduced to approximately 25%. The company's deferred tax assets were reduced by a non-cash charge of approximately $4.9 million, as explained below. In addition, transition taxes of $530,000 were recorded as of March 31, 2018, as explained below. Deferred income taxes result from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are adjusted through income tax expense as changes in tax laws are enacted. Transition taxes are one-time expenses for deemed repatriation of accumulated foreign income. The company's fiscal 2018 results were negatively impacted by 28c per diluted share as a result of the Tax Reform Act. A prorated federal corporate income tax rate of 31.5% applies for the company's full 2018 fiscal year. The full impact of the Tax Reform Act will be effective in the fiscal year commencing April 1. These tax changes represent provisional amounts based on the company's interpretation of the Tax Reform Act and may change as the company receives additional clarification and implementation guidance. The company will continue to analyze the effects of the Tax Reform Act on the company's financial statements and operations. Any additional impacts from the enactment of the Tax Reform Act will be recorded as they are identified during the measurement period as provided for in accordance with Staff Accounting Bulletin No. 118.

08:08 EDT Allergan announces Thomas Freyman to join Board of Directors - Allergan (AGN) announced that Thomas Freyman will join its Board of Directors effective immediately, as part of the company's ongoing board refreshment process. Freyman, a former Executive Vice President of Finance and Administration at Abbott Laboratories (ABT), brings nearly 40 years of healthcare industry and finance experience to Allergan's Board.

08:08 EDT Natus Medical to seek shareholder approval of amendment to declassify board - The Board of Directors of Natus Medical announced that it commits to taking certain actions to strengthen the company's corporate governance based on feedback provided during recent meetings with Natus shareholders and the Board's continual consideration of best practices. These commitments include the following: Natus will seek shareholder approval of an amendment to its charter to declassify the Board and eliminate cumulative voting at, or prior to, the 2019 annual meeting of its stockholders. Natus will adopt standard proxy access bylaw provisions in time for use in connection with the 2019 annual meeting.The Natus charter currently provides that the Board is divided into three classes, with directors in each class elected to a three-year term, and also allows shareholders to cumulate votes in the election of directors. If shareholders approve the amendment of the charter to eliminate these provisions, over a phase-in period, directors elected after such amendment will serve for one-year terms, and shareholders will not be able to cumulate their votes for the election of directors. Regarding the proxy access provisions to which the Board is committed, shareholders that meet the eligibility threshold, not to be more restrictive than those owning three percent of the outstanding shares for a three-year period, will be entitled to include in the company's proxy materials director nominees that comprise a percentage of the total number of directors that will not be less than 20%. Fenwick & West LLP is serving as legal counsel to Natus.

08:06 EDT Zayo Group selected for data center in Virginia - A global webscale provider has selected Zayo Group for colocation in Zayo's data center in McLean, Virginia. The data center, acquired in early April, provides a strategic location close to downtown Washington, D.C. and the heart of the Beltway. The facility, Zayo's second data center in Northern Virginia. Zayo plans to upgrade the critical power at the site to three megawatts and enhance systems resiliency, security, audit certifications, and network connectivity. The data center tethers directly to Zayo's data center in Ashburn, Virginia and to Zayo's network point of presence.

08:05 EDT ContraVir announces FDA approval of IND, initiates clinical program of CRV431 - ContraVir Pharmaceuticals announced the initiation of the clinical development program of CRV431, pursuant to the acceptance of the Investigational New Drug, or IND, application by the FDA. With the FDA's approval, ContraVir plans to begin a streamlined early clinical program of CRV431 to test the clinical safety and efficacy profile in healthy volunteers and HBV-infected patients in the United States. With an agreement of an accelerated clinical program, ContraVir plans to bridge from a single ascending dose treatment of healthy volunteers to a single dose drug-drug interaction study with Viread, tenofovir disoproxil fumarate, and ultimately into a multi-dose 28-day pilot in HBV patients. The randomized, partially-blinded, placebo-controlled study will be conducted in the United States and will consist of three parts. The first part will assess the safety, tolerability, and pharmacokinetic profile of CRV431 as it is administrated as a single dose in healthy volunteers. The second part of the study will be a single dose drug-drug interaction pilot study in stable HBV patients with CRV431 co-treated with Viread. The third part of the study will assess the safety, tolerability, PK, and preliminary signal for antiviral efficacy and identification of clinically-relevant biomarkers of CRV431 with Viread in stable HBV patients.

08:04 EDT Catasys announces $10M in debt financing to support accelerating growth - Catasys (CATS) announced that it has entered into a $10M financing comprised of a receivable facility agreement of $2.5M with Heritage Bank of Commerce and a four-year term loan of up to $7.5M with Horizon Technology Finance Corporation (HRZN). Under the terms of the financing, the initial interest rate on the receivable facility agreement is Prime plus 3%, or 7.75%. The initial interest rate on the term loan is 9.75% and will float with Libor when north of 2%. The blended interest rate on the financing is initially 9.10%. Catasys intends to use the proceeds to scale new contracts and expansions, invest in new technology platforms, and provide excess capital.

08:03 EDT Etsy introduces new tools, revises transaction fee structure - Etsy announced new subscription packages and enhanced tools to support global sellers at different stages of growth. The new, optional monthly plans begin to roll out next month. Etsy also announced that it is revising its seller transaction fee, which will support increased investments in the growth and health of the marketplace. Starting in mid-July, sellers looking to jump-start their growth can opt into Etsy Plus for an introductory rate of $10 per month. In 2019, Etsy also plans to roll out Etsy Premium, which will be geared towards larger, more established creative businesses. Sellers who do not opt into Etsy Plus or Etsy Premium will have access to the same tools and services that are currently available on Etsy without an additional monthly fee as part of Etsy Standard. Starting July 16, 2018, the transaction fee charged when a seller makes a sale will change from 3.5% to 5%, and it will also apply to the cost of shipping. This revised fee structure will enable Etsy to make further investments in marketing to attract buyers, enhance customer support, and drive product innovation. Rachel Glaser, Etsy's CFO added, "Our revised fee structure will allow us to make more meaningful investments on behalf of our sellers while remaining what we believe is the best value for entrepreneurs looking to start, manage, and grow a creative business. We plan to increase our 2017 direct marketing spend by at least 40% in 2018, revamp our Etsy community platforms, and execute against an exciting product roadmap. We believe all of this will help drive near-term growth and increase buyer lifetime value."

08:02 EDT WNS Holdings, Hyperion Insurance announce strategic partnership - WNS and Hyperion Insurance Group, an international insurance group, announced a global shared services partnership. The Hyperion Shared Services Centre has dedicated teams providing a range of services and processing requirements supporting underwriting and London Market processing.

07:41 EDT Goldman Sachs Merchand Banking Division, Hearst buy Slickdeals - Warburg Pincus announced that funds affiliated with the firm have sold Slickdeals, a consumer-driven deal sharing platform in the U.S., to West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division and Hearst. Terms of the transaction were not disclosed.

07:34 EDT CytomX Therapeutics appoints Lloyd Rowland Jr. as general counsel - CytomX Therapeutics (CTMX) announced the appointment of Lloyd Rowland, Jr. as SVP, general counsel. Rowland brings to CytomX 25 years of biotechnology and pharmaceutical industry legal counsel and transactional experience. Most recently, Rowland held the position of SVP, general counsel and chief compliance officer of Xencor (XNCR), a clinical-stage biopharmaceutical company developing engineered monoclonal antibodies for the treatment of autoimmune diseases, asthma and allergic diseases and cancer.

07:33 EDT United Bancorp to acquire Powhatan Point Community Bancshares in $6.8M deal - United Bancorp and Powhatan Point Community Bancshares announce that they have signed a definitive merger agreement whereby United will acquire Powhatan in a stock and cash transaction. Upon completion, First National will be merged into UBCP's wholly-owned subsidiary bank, Unified Bank. At that time, the main office of First National will become a full-service branch of Unified Bank. Powhatan operates one full-service office in Belmont County, Ohio and has approximately $59M in assets, $7.9M in loans, $53.6M of deposits and $5.2M in consolidated equity as of March 31, 2018. The transaction significantly increases UBCP's presence in Belmont County improving the pro forma deposit market share to 15.9%. The acquisition is expected to close in the fourth quarter of 2018 and is subject to Powhatan shareholder approval, regulatory approval, and other conditions set forth in the merger agreement. Subject to the terms of the merger agreement, which has been unanimously approved by the Board of Directors of each company, Powhatan shareholders will receive 6.9233 shares of UBCP common stock plus $38.75 in cash for each outstanding share of Powhatan common stock, subject to adjustment based on closing equity and other factors. Based on the UBCP closing share price of $13.05 on June 13, 2018, the transaction is valued at $129.10 for each Powhatan share or approximately $6.836M in aggregate. Excluding one-time transaction costs, and with fully-phased in synergies, UBCP expects the transaction to be approximately 7% accretive to fully diluted earnings per share. Tangible book value per share dilution earnback will be approximately 2.2 years using the crossover method. These estimates include fully-phased in cost savings of 21%. In addition, UBCP will restructure Powhatan's investment portfolio with an expected 1.05% yield improvement.

07:32 EDT SL Green Realty increases share repurchase program by $500M to $2B - SL Green Realty announced that the company's board authorized an increase to the size of its share repurchase program by an additional $500M of the company's common stock, bringing the program to a total of $2B. To date, the company has repurchased 15,067,975 shares under the program.

07:17 EDT Aptose Biosciences enters into license agreement with CrystalGenomics - Aptose Biosciences announced that they have entered into a license agreement with CrystalGenomics for China rights to CG-806. Aptose will now own worldwide rights to develop and commercialize CG-806, a first-in-class, highly potent oral small molecule being developed for acute myeloid leukemia, or AML, B-cell malignancies and other hematologic malignancies. Under the agreement, CrystalGenomics will receive an upfront payment of $3 million and is eligible for development, regulatory and commercial-based milestones, as well as single-digit royalties on product sales in China. Total deal value for the China territory, including the upfront payment, is up to $125 million.

07:07 EDT Bladex, Bancomext sign master agreement to support intra-regional trade - Banco Latinoamericano de Comercio Exterior, S.A. announced the signing of its participation in the Trade Guaranties Program of Banco Nacional de Comercio Exterior, to foster Mexico's commercial activity and enhance its integration with the rest of the Latin-American and Caribbean Region. The guaranties under the Bancomext Program are applicable to the import and export of Mexican goods and services, as well as to the execution of projects supporting both, the cross border expansion of Mexican companies, and foreign direct investment towards Mexico. Bladex, through its participation in the Program, contributes to the regional economic integration and boosts the trade flows dynamics across the Region. The Program aims to cover financing transactions mainly in the consumer, intermediate and capital goods sectors, transportation equipment, and project finance.

07:04 EDT Target, Shipt expand same-day delivery in Texas - Shipt and Target Corporation announced they will begin same-day delivery of more than 55,000 groceries, essentials, home, electronics, toys and other products to select Texas metro areas. Beginning June 28, same-day delivery from Target will be available in the following metro areas: El Paso, Brownsville/McAllen and Lubbock, Texas. Shipt is launching in El Paso and Lubbock for the first time with same-day delivery from Target. Current and new Shipt members in Brownsville/McAllen will also gain access to Target same-day delivery, raising the number of households that have access to Shipt to more than 329,000 statewide. To celebrate the launch, new Shipt members who sign up prior to June 28 will receive an annual membership for $49. To support the expansion, Shipt plans to add 120 new shoppers to its network throughout the state of Texas. These shoppers will be part of the team responsible for ensuring complete, accurate fulfillment of each order. Through this partnership, Target plans to offer convenient, same-day delivery of the in-store assortment of groceries, essentials, home, electronics, toys and other products from the majority of its stores by the 2018 holiday season. By the end of the year, the service will be available to 65% of U.S. households across 180 markets, reaching a total of 80M households, and in 2019, same-day delivery will expand to include all major product categories at Target.

07:02 EDT ION Geophysical makes second sale of subsea navigation compasses - ION Geophysical announced the second sale of a number of its highly differentiated optical magnetic heading sensors to enable subsea vehicles to reach their desired destinations. In Q4, successful field trials led to delivery of the first commercial order in Q1.

06:55 EDT Interface signs definitive agreement to acquire nora systems for $420M - Interface announced it has signed a definitive agreement to acquire nora systems in a stock purchase transaction valued at approximately $420M. Nora is a privately held company that is majority owned by investment firm Intermediate Capital Group, or ICG. Nora's annual revenues are approximately $280M. Interface expects to close the transaction during Q3, subject to regulatory approvals and other customary closing conditions. This acquisition will expand Interface's flooring portfolio and increase its penetration into segments including healthcare, life sciences, education and transportation. Nora has built a specified selling organization that provides reach into approximately 80 countries around the world. The nora acquisition, when completed, is expected to be accretive to Interface's margins and adjusted EPS. Nora is anticipated to increase the company's adjusted EPS, a non-GAAP measure, 3c-6c, and 15c-20c in 2019.

06:51 EDT HighPoint Resources appoints Paul Geiger as COO - HighPoint Resources announced that it has appointed Paul Geiger to the position of COO, where he will provide leadership and strategic oversight of the company's growing operations in the Denver-Julesburg, or DJ, Basin of Colorado. Geiger will join the company effective July 11.

06:34 EDT Hercules Capital sees additional 4c of annual NII from federal rate increase - Hercules Capital estimated accretive impact to its debt investment portfolio attributed to the Federal Reserve - Federal Open Market Committee's increase in the federal funds rate by 25 basis points, or 0.25%. Hercules anticipates a 25 basis point increase in the Prime Rate will contribute approximately $3.1M, or 4c per share, of NII per annum. As of March 31, 2018, 96.5% of Hercules' debt investment portfolio of $1.4B was primarily priced at PRIME or LIBOR-based floating interest rates, while 100.0% of the company's outstanding debt obligations have a fixed rate of interest. The anticipated increase is not expected to have any material impact to NII in Q2. The expected benefit from the June 2018 rate increase is expected to materialize beginning with the Q3 operating period.

06:15 EDT Rolls-Royce: Current trading remains in-line with FY expectations - Rolls-Royce said: "Current trading remains in-line with the full year expectations we set out at the time of our 2017 results in March. Despite the already announced incremental costs associated with further recent Trent 1000 in-service issues, the mitigating actions we continue to take across the group enable us to be confident that our FY18 guidance for Group FCF of around GBP 450m +/- GBP 100m remains unchanged."

06:13 EDT Ford issues two safety recalls in North America, expands one recall - Ford is issuing two safety recalls and expanding one recall in North America. Ford is issuing a safety recall in North America for approximately 7,500 2018 Ford F-150, Expedition and Lincoln Navigator vehicles equipped with a 3.5-liter GTDI V6 engine for high-pressure fuel pumps with misaligned welds. On the affected vehicles, the high-pressure fuel pump assembly may have inadequate welds between the pump housing and its mounting flange. As a result, the fuel pump welds in these vehicles may be susceptible to high-cycle fatigue fractures that could cause the fuel pump to move relative to its mounting flange, resulting in eventual loss of the sealing integrity of the cam cover or the fuel lines and an oil or fuel leak, increasing the risk of fire. The recall involves approximately 7,580 vehicles in North America, with 5,645 in the United States and federalized territories, 1,625 in Canada and 310 in Mexico. The Ford reference number for this recall is 18S17. Ford is issuing a safety recall in North America for approximately 1,500 2018 Ford F-650 and F-750 vehicles with hydraulic brake systems for missing brake hose corrosion protection plating. On the affected vehicles, some primary and/or secondary brake circuit hose assemblies located between the master cylinder and the hydraulic control unit may not have the specified anti-corrosion plating on the metal ferrules that attach a flexible braided steel hose to metal tubes. Affected vehicles include 2018 Ford F-650 and F-750 vehicles built at Ohio Assembly Plant between Jan. 26, 2018 and March 13, 2018. The recall involves approximately 1,485 vehicles in North America, with 1,474 in the United States and 11 in Canada. The Ford reference number for this recall is 18S19. Ford is including an additional 27 2018 Ford Edge, 2018 Ford Fusion and 2017 Lincoln MKZ vehicles in an existing safety recall for Ford Edge, Fusion and Lincoln MKZ vehicles equipped with a 2.0-liter gas engine and 6F35 transmissions in North America that may have torque converters with inadequately welded studs. The recall now involves approximately 6,063 vehicles in North America, including 5,352 in the United States and federalized territories, 699 in Canada and 12 in Mexico.

06:05 EDT Fred's reports Q1 gross margin 25.5% - Gross margin as a percent of sales decreased 220 basis points to 25.5% in Q1 2018 vs 27.7% in Q4 2017.

06:04 EDT Fred's Interim CEO says 'We continue to explore other strategic transactions' - Fred's Interim CEO and CFO, Joe Anto stated, "We are rapidly making progress on our two main goals of eliminating our debt balance and returning to significant profitability by Q4 of this year, but there is still much work to be done. We recently closed the sale of our specialty pharmacy business for approximately $40 million, and as of June 12th, our borrowings against our ABL were $135 million, down from $162 million at the end of Q1, with over $60 million in available liquidity. We expect our ABL balance to continue to decrease over the coming weeks, as we collect all remaining receivables associated with the specialty pharmacy business. We continue to explore other strategic transactions and expect to generate additional cash proceeds which should meaningfully reduce our debt balance. We have engaged PJ Solomon & Company to analyze the value of our retail pharmacy script portfolio and also engage with potential strategic buyers on this part of our business. That process is well underway and we will provide updates as appropriate. Additionally, we continue to aggressively reduce expenses in every part of the business, while executing on various initiatives to increase sales and gross margin." Heath Freeman, Chairman of the Board commented: "We remain confident in our abilities to reset our cost structure, bring in the right talent, allocate capital wisely, generate significant free cash flow and maximize value for all shareholders."

05:56 EDT Canadian National investing $210M in Quebec's rail infrastructure in 2018 - CN said it plans to invest approximately $210M across Quebec in 2018 to strengthen the company's rail network throughout the province, improving safety and supporting efficient service. "We are again investing across the province to support a safe and fluid railway network, and our increasing investments in technology are making our Montreal headquarters part of the growing tech economy of Quebec," said Michael Farkouh, vice-president of CN's Eastern Region. "We remain committed to investing for the long haul to raise the bar on service for our customers across Quebec and North America, while continuing to strengthen our infrastructure in support of our unwavering commitment to railway safety."

05:17 EDT TechnipFMC, DOF announce delivery of Skandi Recife - TechnipFMC (FTI) and DOF Subsea, or DOF, announce that the Skandi Recife, a Brazilian-flagged flexible lay and construction vessel owned by the joint venture formed between TechnipFMC and DOF, commenced its 8-year charter contract with Petroleo Brasileiro S.A. The vessel will work in the Campos, Santos and Espirito Santo basins. Skandi Recife has state of the art pipelay and marine technology. She has a 340 tons Vertical Lay System, or VLS, tower, 2,500 tons underdeck carousel and two work-class ROVs, allowing her to lay flexible pipes in water depths up to 2,500 meters. She was built by Vard Promar Brazilian yard, where her sister ship, Skandi Olinda, is currently under construction, with a high rate of Brazilian national content. Under the TechnipFMC/DOF joint venture agreement, TechnipFMC will manage flexible pipelay, and DOF will be responsible for marine operations.