Stockwinners Market Radar for June 21, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:53 EDT ANZ Bank doubles share buyback to AUD 3B - ANZ announced it will increase its current on-market share buy-back, commenced on 15 January 2018, by a further $1.5 billion to a total of $3 billion. This follows an announcement on 8 May 2018 that ANZ had received around $1 billion of reinsurance proceeds as part of the first tranche of the sale of its Australian Life Insurance Business and was considering capital management options. ANZ Chief Financial Officer Michelle Jablko said: "The progress of our transformation means we are able to return this surplus capital to shareholders while retaining appropriate flexibility to invest in our business and maintain unquestionably strong capital levels." ANZ's reported Level 2 Common Equity Tier 1 capital ratio as at 31 March 2018 was 11.04%. This would increase by ~56bp on a pro forma basis after adjusting for completion of the buy-back, receipt of the reinsurance proceeds and completion of announced asset sales.

19:00 EDT On The Fly: After Hours Movers - HIGHER: Tandem Diabetes (TNDM) up 19.2% after FDA approval of insulin pump... Medtronic (MDT) up 0.9% after FDA approval of its MiniMed 670G system. DOWN AFTER EARNINGS: Red Hat (RHT) down 11.9%... VMWare (VMW) down 1.3%, Splunk (SPLK) down 1.1%, in sympathy with Red Hat... SMART Holdings (SGH) down 2.9%. ALSO LOWER: Container Store (TCS) down 3.1% after equity offering... Lam Research (LRCX) down 0.3% after recommending that shareholders reject TRC Capital offer.

18:29 EDT Medtronic announces FDA approval of MiniMed 670G system - Medtronic announced that the U.S. FDA has approved the use of the MiniMed 670G system in patients with type 1 diabetes seven years of age and older. This newest system by Medtronic features the company's most advanced SmartGuard technology and most accurate CGM - the Guardian Sensor 3 - which work together to automate the delivery of a personalized amount of basal insulin every five minutes based on sensor glucose values. The system constantly self-adjusts to help avoid highs and lows, allowing patients to spend more Time in Range (the percentage of time spent in the optimal glycemic range of 70-180 mg/dL).

18:02 EDT SPDR Gold Trust holdings fall to 824.63MT from 828.76MT - This is the first decline in holdings since June 8th and the lowest level holdings in the trust since February 15th.

17:25 EDT Red Hat says prudent to model 25% tax rate in FY20 and beyond - Continues to evaluate the impact from the changes in the U.S. tax code.

17:21 EDT Red Hat says all 25 of its largest deals renewed at aggregate value of 120%+ - Comments from the Red Hat earnings call.

17:18 EDT WR Hambrecht Ventures III reports 7.9% passive stake in Arcimoto

17:17 EDT Lockheed Martin awarded $364.6M U.S. Army contract - Lockheed Martin Missile was awarded a $364,637,120 firm-fixed-price domestic and foreign military sales contract for Army Tactical Missile Guided Missile and Launching Assembly Service Life Extension program. One bid was solicited with one bid received. Work will be performed in Dallas, Texas; Lufkin, Texas; Camden, Arizona; Vergennes, Vermont; Boulder, Colorado; Middletown, Connecticut; Clearwater, Florida; St. Louis, Missouri; Joplin, Missouri; and Cincinnati, Ohio; with an estimated completion date of March 26, 2020.

17:11 EDT Bridger Management reports 5.8% passive stake in Dicerna

17:04 EDT Ball Corp partners with Platinum Equity to produce steel containers - Ball Corp and Platinum Equity announced that they have entered into joint venture and definitive purchase agreements to form Ball Metalpack, a new packaging company that manufactures steel containers for aerosol products, food, household consumables, pet food, nutritional and other products in the United States. Platinum Equity will own 51% of Ball Metalpack and Ball Corporation will own 49%. Ball Corporation will contribute its U.S. steel food and aerosol packaging manufacturing assets to the joint venture. These include the following tinplate steel assets: Canton and Columbus, Ohio; Milwaukee and Deforest, Wisconsin; Chestnut Hill, Tennessee; Horsham, Pennsylvania; Springdale, Arkansas, and Oakdale, California. In 2017, these U.S. tinplate steel assets had sales of $746M and comparable operating earnings of $48M. Jim Peterson, who currently manages those assets, will act as CEO of the joint venture. In return, Ball Corporation will receive more than $600M in pre-tax proceeds from the transaction and will retain a 49% interest in Ball Metalpack, for a total value of approximately $675M. Ball Corporation will continue to wholly own and operate its aluminum aerosol packaging facilities in the U.S., Canada, Europe, India and Mexico, and its steel aerosol facilities in Argentina, as well as the Findlay, Ohio, metal packaging facility, which largely produces aluminum beverage containers. The Findlay, Ohio facility will continue to produce two-piece steel food cans for Ball Metalpack under a long-term supply contract. Ball expects the U.S. steel asset sale and joint venture transaction to close in July 2018 with approximately 1,300 employees transferring from Ball to the joint venture. Post-close, Ball Metalpack's financial results will be reported in equity in results of affiliates within Ball's consolidated statements of earnings. Ball's global aluminum aerosol and Argentine tinplate steel aerosol businesses will be led by Stan Platek, vice president and general manager, and its financial results will be reported in the Other non-reportable segment.

17:01 EDT Celanese launches 'Regulated Product' category for acetate tow materials - Celanese Corporation announced the launch of a new "Regulated Product" category to encompass all acetate tow grades used in tobacco products sold in the United States. To support the RP category, investments will be made to increase the level of regulatory support Celanese is able to provide customers as well as enhance product testing and end-to-end raw material and product traceability capabilities. Further investments to gradually transition to a manufacturing process more fully aligning with Good Manufacturing Practices or future guidance specific to the tobacco industry are expected. Additionally, acetate tow products in the Celanese RP category will be supported by longer-term supply obligations as well as Celanese commitments related to the sourcing of critical raw materials and acetate tow security of supply.

16:42 EDT Carpenter Technology raises base prices on premium product portfolio 3%-5% - Carpenter Technology announced that it will increase base prices 3%-5% on new non-contract orders across all premium products. The increases will be effective with new orders placed after June 21, 2018. All applicable surcharges will remain in effect.

16:37 EDT Intracoastal Capital reports 8.7% passive stake in Arcadia Biosciences

16:34 EDT Fed says big banks could lend to households, businesses during global recession - The nation's largest bank holding companies are strongly capitalized and would be able to lend to households and businesses during a severe global recession, according to the results of supervisory stress tests released Thursday by the Federal Reserve Board. The most severe hypothetical scenario projects $578B in total losses for the 35 participating bank holding companies during the nine quarters tested. The "severely adverse" scenario, the most stringent scenario yet used in the board's stress tests, features a severe global recession with the U.S. unemployment rate rising by almost 6 percentage points to 10%, accompanied by a steepening Treasury yield curve. The firms' aggregate common equity tier 1 capital ratio, which compares high-quality capital to risk-weighted assets, would fall from an actual level of 12.3% in the fourth quarter of 2017 to a minimum level of 7.9% in the hypothetical stress scenario. Since 2009, the 35 firms have added about $800B in common equity capital. "Despite a tough scenario and other factors that affected this year's test, the capital levels of the firms after the hypothetical severe global recession are higher than the actual capital levels of large banks in the years leading up to the most recent recession," Vice Chairman Randal K. Quarles said. Also on Thursday, the Board announced that to be consistent with the recently passed Economic Growth, Regulatory Reform, and Consumer Protection Act, bank holding companies with less than $100B in total consolidated assets are no longer subject to supervisory stress testing, including both the Dodd-Frank Act stress tests and CCAR. As a result, the Board will not include CIT Group Inc. (CIT), Comerica Incorporated (CMA), and Zions Bancorporation (ZION) in this year's results and future cycles. Other publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link

16:31 EDT Optinose says results of NAVIGATE II, EXHANCE-12 trials published in journals - Optinose announced that results of the Phase 3 NAVIGATE II trial and the EXHANCE-12 trial were published in peer-reviewed journals: the Journal of Allergy and Clinical Immunology and the International Forum of Allergy & Rhinology, respectively. "We are pleased to announce the peer-reviewed publication of these important data from the development program that supported the FDA approval of XHANCE for the indication 'treatment for nasal polyps' in adults," said Ramy Mahmoud, M.D., MPH, President and Chief Operating Officer of Optinose. "The team at Optinose thanks the investigators and patients involved in NAVIGATE II and EXHANCE-12. Their willingness to conduct and participate in these studies was a crucial element in our success. We look forward to continuing to conduct clinical research with XHANCE, including the planned initiation in the fourth quarter of 2018 of our pivotal program evaluating XHANCE for the new indication 'treatment of chronic sinusitis,' an indication that has never previously been achieved for a pharmaceutical product."

16:25 EDT Educational Development Corp. announces amendment to loan pact - Educational Development Corporation announced the execution of the Eighth Amendment to Loan Agreement. Randall White, CEO of Educational Development Corporation, announced that the Company has executed the Eighth Amendment to the Loan Agreement with its primary lender. The Amendment modifies the Loan Agreement, extending the termination date until August 15, 2019, reduces the interest rate pricing grid for all floating rate borrowings covered by the Loan Agreement, establishes a new $3,000,000 advancing term loan to be used for capital expenditures to increase daily shipping capacity, releases the personal Guaranty of Randall W. White and Carol White, along with other loan covenant requirements being lessened. Per Mr. White, "We are pleased to announce that the continued financial improvements we have made over the past year have had a positive impact with our bank. The changes with our bank over the last year to increase our line and reduce our effective borrowing rate, among other positive changes, reflect their continued support and desire to work with us on a go forward basis. We look forward to the improved profitability from these changes on our current fiscal year as well as years to come."

16:20 EDT Red Hat announces $1B stock repurchase program - Red Hat announced that its board of directors has authorized the repurchase of up to $1B of the company's common stock from time to time on the open market or in privately negotiated transactions. The new program is to replace the previous $1B repurchase program that will expire on June 30, 2018. From its commencement on July 1, 2016 through June 20, 2018, the company repurchased approximately 8.2M shares of its common stock for $751M under the previous program.

16:20 EDT FDA accepts sBLA application for Bristol-Myers Opdivo plus low-dose Yervoy - Bristol-Myers Squibb Company announced that the FDA has accepted its supplemental Biologics License Application, or sBLA, for Opdivo plus low-dose Yervoy for the treatment of first-line advanced non-small cell lung cancer in patients with tumor mutational burden greater than or equal to10 mutations per megabase. The target FDA action date is February 20, 2019.

16:18 EDT Partner Fund Management reports 7.1% passive stake in Clovis

16:15 EDT PayPal to acquire Simility for $120M in cash - PayPal Holdings announced that it has agreed to acquire Simility, a fraud prevention and risk management platform, for a purchase price of $120M in cash, subject to certain adjustments. The acquisition of Simility will enhance PayPal's ability to deliver fraud prevention and risk management solutions to merchants globally. Subject to customary closing conditions, this transaction is expected to close in the third quarter of 2018.

16:10 EDT TriplePoint Venture stockholders approve asset coverage reduction to 150% - TriplePoint Venture Growth announced that at the company's special meeting of stockholders held on June 21, 2018, its stockholders approved the application of the modified asset coverage requirements set forth in Section 61(a)(2) of the Investment company Act of 1940, as amended by the Small Business Credit Availability Act. As a result, the company's asset coverage requirements for senior securities will be changed from 200% to 150%, effective June 22, 2018.

16:08 EDT AMVAC Chemical acquires Bromacil assets from Bayer Crop Science - AMVAC Chemical Corporation, a wholly-owned subsidiary of American Vanguard Corporation (AVD), announced the purchase of the Bromacil herbicide business in the United States and Canada from Bayer Crop Science (BAYRY). This transaction is unrelated to the acquisition of Monsanto (MON) by Bayer, and financial terms of the agreement were not disclosed. The assets being purchased include the Bromacil trademarks and product registrations for sale of Hyvar and Krovar in the USA and Canada. In order to ensure a seamless transfer from Bayer to AMVAC, Bayer will continue to market and provide customer support for these products until the end of September 2018.

16:06 EDT Tandem Diabetes says FDA approves t:slim X2 Insulin Pump with Basal-IQ tech - Tandem Diabetes Care announced U.S. Food and Drug Administration approval of the t:slim X2 Insulin Pump with Basal-IQ technology, a predictive low glucose suspend feature designed to help reduce the frequency and duration of low glucose events. This is the first automated insulin delivery system approved for use by children as young as 6 years old, and the first insulin pump designated as compatible with integrated continuous glucose monitoring devices. The company plans to launch its new product with Dexcom G6 continuous glucose monitoring integration, which requires no fingersticks for calibration or diabetes treatment decisions and was the first CGM device to receive the iCGM designation from the FDA earlier this year. Tandem expects the t:slim X2 Pump with Basal-IQ technology to be available in August 2018, and all in-warranty t:slim X2 users in the United States will have the option to add the new feature free of charge via remote software update. Tandem's Basal-IQ algorithm is designed to look 30 minutes into the future to predict where glucose levels are heading. The device suspends insulin delivery when low glucose is predicted, then automatically resumes insulin delivery once glucose levels begin to rise. Use of the t:slim X2 Pump with Basal-IQ technology in the pivotal clinical study demonstrated a 31 percent relative reduction in time spent below 70 mg/dL, with no rebound hyperglycemia compared to a CGM-enabled insulin pump without the feature.

16:06 EDT Ironwood initiates Phase 3 program for IW-3718 - Ironwood Pharmaceuticals announced the initiation of two Phase III clinical trials evaluating the safety and efficacy of IW-3718 in patients with persistent gastroesophageal reflux disease. Persistent GERD affects an estimated 10 million Americans who continue to suffer from heartburn and regurgitation despite receiving treatment with proton pump inhibitors (PPIs), the current standard of care. The Phase III program comprises two identical randomized, double-blind, placebo-controlled, multicenter Phase III trials that target enrolling approximately 1,320 patients total (660 in each trial) with persistent GERD who demonstrate evidence of pathological acid reflux. Eligible patients will continue to take PPIs and be randomized to placebo or IW-3718 1500 mg twice a day for eight weeks. The primary endpoint is overall heartburn responder, defined as a patient who experiences at least a 45% reduction from baseline in heartburn severity (an improvement determined to be clinically meaningful based on patient-reported outcomes in the Phase IIb trial) for at least four out of eight weeks, including at least one of the last two weeks. Secondary endpoints include change in weekly heartburn severity, change in weekly regurgitation frequency and the proportion of heartburn-free days.

15:37 EDT Senseonics up 5% after reopening following FDA approval news - Senseonics shares are up 24c, or 4.8%, to $5.10 after the company announced FDA approval of its application to market the Eversense CGM System.

15:15 EDT Senseonics says FDA approves PMA to market Eversense CGM System - Senseonics Holdings announced the U.S. Food and Drug Administration has approved its Premarket Approval application to market the company's Eversense Continuous Glucose Monitoring System to people with diabetes in the United States. The system is the first and only CGM system to feature an implantable glucose sensor and provide long-term continuous monitoring for up to three months. "We're very pleased to receive this FDA approval that allows us to make Eversense available in the United States, as it is in many European markets. With the parallel trends of wearable personal devices and medical implantables for people to manage their health, this product exemplifies the natural evolution for diabetes devices, and Senseonics is excited to help lead the way," said Tim Goodnow, President and CEO of Senseonics. "More importantly, we believe the unique features Eversense offers will help open up CGM to millions of people with diabetes who, up to this point, have been hesitant to try CGM despite the clear health benefits it provides."

14:58 EDT CPS Technologies names Francis J. Hughes, Jr. chairman of the board - CPS Technologies Corporation announced its board of directors has elected Francis J. Hughes, Jr. as chairman of the board, effective immediately. Hughes has served as president of American Research and Development Corporation, a venture capital firm, since 1992.

14:35 EDT eBay urges Congress to 'provide clear tax rules,' protect small businesses - eBay (EBAY) issued the following statement on the Supreme Court ruling on internet sales tax collection: "The South Dakota sales tax law that led to the end of the Quill standard targeted larger Internet retailers. Each of the three retailers in the case - Wayfair, Overstock and Newegg - sells more than $1 billion per year, and in some cases much more. The Court's decision states that the South Dakota law "applies only to sellers who engage in a significant quantity of business in the State, and respondents are large, national companies that undoubtedly maintain an extensive virtual presence. As expressed in both the Supreme Court's decision and throughout oral arguments, the operations of small businesses are different than large retailers, and state tax actions targeting them raise additional legal questions that are not addressed by this decision. The Court was very clear about the importance of protecting small businesses from unfair burdens. If state tax authorities attempt to subject remote small businesses to audits and lawsuits, there will be increased litigation across the country to protect small business from unfair burdens. Now is the time for Congress to step in and provide clear tax rules, with a strong small business exemption, to help small businesses take advantage of the Internet to grow and create local jobs." Reference Link

14:13 EDT CVS 'pleased' by ODM report on PBM performance for managed care plans - CVS Health said it is "pleased" that a report issued today that was commissioned by the Ohio Department of Medicaid on pharmacy benefit manager performance for the state's Medicaid managed care plans confirms that the company's PBM, CVS Caremark, does not provide preferential pricing to CVS Pharmacy that would create an anti-competitive advantage over independent pharmacies. "The report's analysis of our claims data clearly shows that CVS Caremark reimburses independent pharmacies at a higher rate than CVS pharmacies are reimbursed, and that CVS Caremark pays a higher dispensing fee to independent pharmacies than it pays to CVS pharmacies," CVS said.

13:36 EDT Frontier CFO R. Perley McBride resigns for personal reasons - Frontier Communications Corporation announced that R. Perley McBride, its executive VP and CFO, will be resigning from the company for personal reasons. McBride will remain in his position until August 31 to help transition responsibilities. A search for his successor is being conducted.

13:32 EDT Overstock.com urges congressional action following Supreme Court ruling - The company said, "Overstock.com (OSTK) is prepared to comply with today's Supreme Court ruling in South Dakota v. Wayfair (W), which overturned long-standing United States Supreme Court precedent, in Quill Corp v. North Dakota. At the same time, the company calls on Congress to intervene and legislate a fair solution in the wake of today's ruling to lessen possible impacts on innovative internet startups.'Though the impact of the Court's ruling today will be clarified by further proceedings in the lower court, we are prepared to comply with any outcome, and the decision will have no appreciable impact on our business,' said Overstock.com executive and board member Jonathan Johnson. The 5-4 ruling altered the 26-year Quill precedent, which established that a retailer had to have a physical presence in a state, before it could be compelled to collect sales taxes on behalf of that state. Physical presence will no longer be the standard, though there are still guidelines for states to consider, as given by the Supreme Court...The company noted that there are more than 12,000 different state and local taxing districts, which presents internet start-ups with a compliance challenge. Johnson continued, 'Unless Congress responds, the Court's ruling may remove key entrepreneurial opportunities before they even get out of the heads of the inventors.'"

13:00 EDT Arthur J. Gallagher acquires Marchetti, Robertson & Brickell - Arthur J. Gallagher & Co. announced the acquisition of Marchetti, Robertson & Brickell Insurance and Bonding Agency, Inc., with offices in Ridgeland, Mississippi and Kansas City, Missouri. Terms of the transaction were not disclosed.

12:35 EDT Volkswagen boosts stake in battery technology firm QuantumScape - "By increasing its stake in the California technology company QuantumScape Corporation and forming a new joint venture, Volkswagen Group is paving the way for the next level of battery power for long-range e-mobility. Dr. Axel Heinrich, Head of VW Group Research, who will take a seat on the board of directors of QuantumScape, says: "We want to accelerate the commercialization of QuantumScape's solid-state batteries. And we combine forces to leverage Volkswagen's experience as a production specialist and QuantumScape technology leadership. Volkswagen is thus taking another step toward a sustainable, zero emission mobility for our customers in the future." Volkswagen will invest 100m USD in US-based QuantumScape and will become the innovative enterprise's largest automotive shareholder. Closing of the transaction is subject to regulatory approval."Volkswagen is the world's largest automotive manufacturer and leads the industry in its commitment to electrification of its fleet," says Jagdeep Singh, CEO of QuantumScape." "We are thrilled to be chosen by Volkswagen to power this transition. We think the higher range, faster charge times, and inherent safety of QuantumScape's solid-state technology will be a key enabler for the next generation of electrified powertrains." Reference Link

12:31 EDT Xerox names Steve Bandrowczak as President, Chief Operations Officer - Xerox announced the appointment of Steve Bandrowczak as president and Chief Operations Officer, and a member of the company's executive committee, effective June 25. Bandrowczak joins Xerox from Alight Solutions, where he was the COO and Chief Information Officer.

12:29 EDT CVI Investments reports 7.8% passive stake in Arcadia Biosciences

12:16 EDT Wayfair doesn't see Supreme Court decision having noticeable impact on business - Wayfair issued the following statement in response to the U.S. Supreme Court decision in South Dakota v. Wayfair, Inc. on June 21: "We welcome the additional clarity provided by the Court's decision today. Wayfair already collects and remits sales tax on approximately 80% of our orders in the United States, a number that continues to grow as we expand our logistics footprint. As a result, we do not expect today's decision to have any noticeable impact on our business, as it may on other retailers who do not currently collect and remit sales tax. Wayfair has long supported a legislative solution that would establish a level playing field for brick-and-mortar and online retailers by permitting states to collect sales tax on online sales. While we believe the Court was not the ideal venue for creating this level playing field, we expect that today's decision will bring clarity and certainty to this issue."

12:12 EDT Discovery Communications trading resumes

12:03 EDT Shire reports FDA approval for plasma manufacturing facility - Shire announced that the United States Food and Drug Administration has approved the company's first submission for its new plasma manufacturing facility near Covington, Georgia for the production of Gammagard Liquid 10% Solution, a replacement therapy for primary humoral immunodeficiency. The Covington facility will add approximately 30% capacity to Shire's internal plasma manufacturing network once fully operational. Commercial production at the site began in January 2018, and Shire expects to distribute product shortly now that approval has been granted, the company stated.

12:00 EDT Glaukos falls -10.1% - Glaukos is down -10.1%, or -$4.48 to $40.03.

12:00 EDT HUYA falls -11.6% - HUYA is down -11.6%, or -$5.12 to $38.87.

12:00 EDT Avalara rises 16.1% - Avalara is up 16.1%, or $7.24 to $52.25.

11:57 EDT Physical retailers rise, online retailers drop after Supreme Court tax ruling - Shares of brick-and-mortar retailers are rising, while shares of e-commerce firms are slipping, after the Supreme Court ruled that online retailers can be required to collect sales taxes in states where they have no physical presence. SUPREME COURT RULING: On Thursday, the Supreme Court sided with the state of South Dakota in a fight it brought against Wayfair (W) to require a business that has no physical presence in the state to collect its sales tax. The Supreme Court ruled in a 5-to-4 vote that a 1992 judgement in Quill Corporation v. North Dakota regarding the physical presence rule was "unsound and incorrect," according to a judgement posted to the high court's website. Justice Anthony Kennedy, in writing for the majority opinion, said the Quill decision had distorted the economy and resulted in states losing annual tax revenues between $8B-$33B. "Quill puts both local businesses and many interstate businesses with physical presence at a competitive disadvantage relative to remote sellers," he wrote. "Remote sellers can avoid the regulatory burdens of tax collection and can offer de facto lower prices caused by the widespread failure of consumers to pay the tax on their own." WHAT'S NOTABLE: Following the ruling, industry trade organization National Retail Federation issued a statement saying, "Retailers have been waiting for this day for more than two decades. The retail industry is changing, and the Supreme Court has acted correctly in recognizing that it's time for outdated sales tax policies to change as well. This ruling clears the way for a fair and level playing field where all retailers compete under the same sales tax rules whether they sell merchandise online, in-store or both." ANALYST COMMENTARY: KeyBanc analyst Edward Yruma called the ruling a negative for Wayfair, arguing that it may reduce some of the price differential that has helped it gain share from traditional peers. The ruling is also a negative, but to a lesser degree, for eBay (EBAY) and Etsy (ETSY), said Yruma, who views the impact on those two as more related to compliance and implementation. He adds that the news could be a modest positive for retailers of high-ticket and branded products, such as Best Buy (BBY), Home Depot (HD), Lowe's (LOW), La-Z-Boy (LZB), Kirkland's (KIRK), RH (RH) and Williams-Sonoma (WSM). PRICE ACTION: At midday, Target (TGT) rose 1.8%, Walmart (WMT) was up 0.7%, Costco (COST) rose roughly 1.1% while Amazon (AMZN) was down 0.4%, Etsy dropped about 2.5%, eBay fell 1.4% and Wayfair (W) was down 1.2%. In addition, Avalara (AVLR), a software company focused on automated tax compliance that recently held its initial public offering, gained 17.1%.

11:47 EDT Boxlight jumps over 35% after partnering with Georgia school district - Earlier today, Boxlight announced that Georgia's fifth-largest school district is installing its innovative Mimio classroom solution suite in approximately 3,200 classrooms, comprising of 37 elementary, 14 middle and 11 high schools. The contract with Clayton County Public Schools will result in over $11M in sales with an anticipated completion date by the end of 2018. "We're on a mission to improve student outcomes," says Boxlight CEO Mark Elliott, "and we're thrilled to offer our solutions to the students of Clayton County after a very competitive bidding process. This is another testament to our experienced management team and award-winning classroom solution suite. We expect to continue to win large opportunities across the United States and globally." Shares of Boxlight are up over 35% or $1.80 per share to $6.94 per share in late-morning trading.

11:13 EDT AmTrust shareholders vote in favor of amended merger transaction - AmTrust Financial Services announced that, based on a certified vote tally from the special meeting held today, AmTrust stockholders have approved the proposed amended merger transaction in which Evergreen Parent, an entity formed by private equity funds managed by Stone Point Capital, together with Barry Zyskind, Chairman and CEO of AmTrust, George Karfunkel and Leah Karfunkel, will acquire the approximately 45% of the company's issued and outstanding common shares that the Karfunkel-Zyskind Family and certain of its affiliates and related parties do not presently own or control. In connection with the transaction, AmTrust stockholders will receive $14.75 in cash for each share of AmTrust common stock they own. The transaction values the fully diluted equity of the company at approximately $2.95B, excluding the company's outstanding preferred stock. The transaction is expected to close during the second half of 2018, subject to the satisfaction of customary closing conditions, including approval by regulatory authorities. The final vote certified by the independent inspector of election showed that 156,673,970 shares, or 79.8% of the outstanding common stock, representing 92.6% of the shares voted, were cast in favor of the merger. Shares of AmTrust are down 2c to $14.67 in morning trading.

10:44 EDT PG&E to take $2.5B charge for California wildfires - PG&E Corporation and its subsidiary, Pacific Gas and Electric Company announced earlier their intention to record an estimated pre-tax charge in the amount of $2.5B for the quarter ending June 30. PG&E determined it probable that it will incur a loss for claims in connection with fourteen of the Northern California wildfires. The expected charge corresponds to the lower end of the range of PG&E's reasonably estimated losses, it noted. PG&E believes that it is "reasonably possible that the amount of the loss will be greater than the amount accrued and are unable to reasonably estimate the additional loss and the upper end of the range because there are a number of unknown facts and legal considerations that may impact the amount of any potential liability, including the total scope and nature of claims that may be asserted against PG&E Corporation and the Utility." Shares of PG&E are up 50c to $40.50 in morning trading.

10:34 EDT CACI awarded prime position on $50B ceiling GSA contract - CACI International announced that it was awarded a prime position on a multiple-award, indefinite delivery/indefinite quantity contract, with a ceiling value of $50B, to provide government-wide integrated information technology solutions under the General Services Administration's Alliant 2 contract. The 5-year base year and 5-year option contract represents continuing work for CACI across multiple market areas, including Business Systems, Cyber Security, Enterprise IT, and Intelligence Services, the company said. Alliant 2 is a follow-on to GSA's Alliant program that enables all federal civilian and defense agencies to order IT services for a broad range of needs. These services include support for specific systems and applications, larger systems integration and infrastructure, and related management and training. Under the contract, CACI will offer a broad array of IT solutions in areas including agile development, cyber security, IT operations and maintenance, and cloud computing. Ken Asbury, CACI CEO, said, "CACI's performance under the widely successful Alliant contract demonstrates the importance of the solutions and services we offer our customers across the federal government. CACI's innovative and agile IT solutions allow us to help agencies streamline operations, increase efficiency and reliability, and provide security to help safeguard our nation against evolving threats. We look forward to continuing to provide operational excellence to customers throughout the federal government through this contract."

10:25 EDT Kroger says results continue to be pressured by health, pension costs - Says Restock Kroger is off to "a great start". Says investing in associates more than ever before and seeing improvements in retention. Says space optimization is ahead of schedule. Says grew digital sales by more than 66% in Q1. Says making progress in each of the four main drivers for Restock Kroger. Says looking forward to innovating with Ocado to enhance Kroger's digital and robotics capabilities. Says believes Home Chef can leverage existing Kroger assets to benefit both companies. Says continuing to execute digital strategy through core businesses. Says brands grew faster than national brands in nearly every department. Says increasing company's 401 contribution match and expanding associate discounts and education benefits. Expects investments will have ROI that will increase shareholder value. Says confident on ability to deliver on plan for the year and long-term vision. Says "on track" to generate FCF, incremental FIFO operating profit as part of Restock Kroger. Says will make investments for the rest of the year to drive strategy while keeping prices low for customers. Says investing an incremental $500M in associates in the next three years as part of Restock Kroger. Says financial results continue to be pressured by inefficient healthcare and pension costs. Says "a little ahead of where we thought we'd be" for 2018. Comments taken from Q1 earnings conference call.

10:24 EDT Wayfair drops 6% to $109.28 after Supreme Court ruling on sales tax

10:00 EDT Edenor rises 13.3% - Edenor is up 13.3%, or $5.39 to $45.89.

10:00 EDT Grupo Supervielle rises 14.9% - Grupo Supervielle is up 14.9%, or $2.04 to $15.74.

09:47 EDT Glaukos falls -6.0% - Glaukos is down -6.0%, or -$2.65 to $41.86.

09:47 EDT Methode Electronics falls -7.1% - Methode Electronics is down -7.1%, or -$3.20 to $42.05.

09:47 EDT Grupo Supervielle rises 11.7% - Grupo Supervielle is up 11.7%, or $1.60 to $15.30.

09:30 EDT Charles & Colvard partners with jewelry rental service Flont - Charles & Colvard entered a strategic partnership with Flont, a pioneer in borrowed jewelry, allowing access to high-end designer jewelry through monthly memberships and 4-day jewelry rentals.

09:24 EDT Woolworths Group reports BP will not proceed with purchase of petrol business - Woolworths Group announced that it has been notified by BP Australia that BP will not continue with the proposed purchase of the Petrol business as announced on 28 December 2016. As a result, the sale agreements, and strategic partnership agreements, entered with BP on 24 December 2016 will no longer be continued by BP. As previously announced, Woolworths Group is continuing to engage actively with alternative options for its Petrol business, the company reported in an announcement to the Australian Securities Exchange.

09:19 EDT Twitter announces agreement to acquire Smyte - Twitter announced in a post to its Safety Blog that the company has agreed to acquire Smyte, a San Francisco-based technology company that specializes in safety, spam, and security issues. "Smyte's team, technology and company mission are aligned with our focus on improving the health of conversation on Twitter, and we believe this will be a powerful addition to our ongoing work," the post stated. Reference Link

09:18 EDT Gores Holdings enters into definitive merger agreement with Verra Mobility - Verra Mobility announced it has entered into a definitive agreement and plan of merger with Gores Holdings an acquisition company sponsored by an affiliate of The Gores Group. Upon closing, this transaction will introduce Verra Mobility as a publicly listed company, with an anticipated initial enterprise value of approximately $2.4B or 11 times the company's estimated 2018 pro forma adjusted EBITDA of approximately $219M. The consideration payable to the stockholders of Verra Mobility will consist of a combination of cash and shares of Gores Holdings II common stock. In addition to the $400M of cash held in Gores Holdings II's trust account, additional investors have committed to participate in the transaction through a $400M private placement, led by Alec Gores, CEO of The Gores Group, and including large institutional investors. Upon completion of the transaction, including the private placement, Platinum Equity and other minority owners of Verra Mobility expect to hold approximately 42% of the newly public Verra Mobility, subject to various purchase price adjustments. The transaction has been unanimously approved by the boards of directors of both Gores Holdings II and the company, and is expected to close Q3, subject to customary closing conditions, including the receipt of regulatory approval, and approval of the stockholders of Gores Holdings II. Upon closing of the transaction, the name of Gores Holdings II will be changed to Verra Mobility Corporation.

09:08 EDT XL Catlin announces launch of specialty aviation insurance in Mexico - XL Catlin announced the launch of specialty aviation insurance in Mexico. The new product suite will initially focus on general aviation hull and liability risks.

09:03 EDT Simon Property announces Brian McDade to succeed Andy Juster as CFO - Simon announced that Brian McDade will succeed Andy Juster as the company's Executive Vice President and CFO on October 1. Brian has been with the company for 14 years, serving in various senior finance and accounting roles with increasing complexity and responsibility, most recently serving as the company's Senior Vice President and Treasurer. As previously announced, Andy Juster will retire from the company at the end of this year.

09:02 EDT Intel: Investigation confirmed violation of non-fraternization policy

09:02 EDT Arthur J. Gallagher acquires Binney, Chase & Van Horne - Arthur J. Gallagher acquired Pasadena, California-based Binney, Chase & Van Horne. Terms of the transaction were not disclosed.

09:02 EDT Intel CEO Brian Krzanich resigns, board names Bob Swan as interim CEO - Intel announced the resignation of Brian Krzanich as CEO and a member of the Board of Directors. The Board has named CFO Robert Swan Interim CEO, effective immediately. Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee. An ongoing investigation by internal and external counsel has confirmed a violation of Intel's non-fraternization policy, which applies to all managers. Given the expectation that all employees will respect Intel's values and adhere to the company's code of conduct, the Board has accepted Mr. Krzanich's resignation. The Board believes strongly in Intel's strategy and we are confident in Bob Swan's ability to lead the company as we conduct a robust search for our next CEO. Bob has been instrumental to the development and execution of Intel's strategy, and we know the company will continue to smoothly execute. We appreciate Brian's many contributions to Intel," said Intel Chairman Andy Bryant. As Interim CEO, Swan will manage operations in close collaboration with Intel's senior leadership team. Swan has been Intel's CFO since October 2016 and leads the global finance, IT, and corporate strategy organizations. He previously spent nine years as CFO of eBay Inc. Earlier, he was CFO of Electronic Data Systems Corp and TRW Inc. He has also served as CEO of Webvan Group Inc. The Board has a robust succession planning process in place and has begun a search for a permanent CEO, including both internal and external candidates. The Board will retain a leading executive search firm to assist in the process.

09:01 EDT Intel board names Bob Swan as interim CEO

08:48 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Darden (DRI), up 14%... Kroger (KR), up 10%... Micron (MU), up 4%. ALSO HIGHER: Casi Pharmaceuticals (CASI), up 34% after announcing a strategic and long-term manufacturing agreement with Yiling Wanzhou International Pharmaceutical for the manufacturing of entecavir and cilostazol... Heron Therapeutics (HRTX), up 30% after announcing that two completed Phase 2b studies of HTX-011 both achieved their primary endpoints... Lumentum (LITE), up 4% after Goldman Sachs analyst Rod Hall upgraded the stock to Buy from Neutral. LOWER: Moleculin Biotech (MBRX), down 15% after announcing it will issue about 1.1M registered shares of common stock at a purchase price of $2.105 per share... Trupanion (TRUP), down 10% after the company's 1.818M share spot secondary offering priced at $33 per share... Veritone (VERI), down 16% after filing to sell common stock... Limoneira (LMNR), down 15% after its 2.7M share secondary offering priced at $22 per share... Infinera (INFN), down 3% after Goldman Sachs analyst Rod Hall assumed coverage of the stock and downgraded it to Neutral from Buy.

08:39 EDT Web.com agrees to be acquired by Siris Capital affiliate for $25 per share - Web.com announced that it has entered into a definitive agreement to be acquired by an affiliate of Siris Capital Group, LLC in an all-cash transaction valued at approximately $2B. Under the terms of the agreement, which has been unanimously approved by the members of Web.com's board, an affiliate of Siris will acquire all of the outstanding common stock of Web.com for $25.00 per share in cash. The purchase price represents a 30% premium over Web.com's 90-day volume-weighted average price ended on June 19, 2018. The proposed transaction is expected to close in the fourth quarter of 2018 and is subject to approval by Web.com's shareholders, along with the satisfaction of customary closing conditions and antitrust regulatory approvals, as necessary. The transaction is not subject to any financing condition. Upon completion of the acquisition, Web.com will become wholly owned by an affiliate of Siris.

08:35 EDT PolarityTE says current CFO John Stetson will become Chief Investment Officer - PolarityTE updated their earlier new release y adding that John Stetson, the current CFO, will become the company's Chief Investment Officer and president of a new strategic arm, PolarityIS.

08:34 EDT Capstone Turbine says it saved customers an estimated $194M in energy expenses - Capstone Turbine announced that Capstone end-use customers saved an estimated $194M in annual energy costs and 314,000 tons of carbon last fiscal year. The carbon savings compare to the annual equivalent carbon reduction from approximately 369,800 acres of forest or removing over 67,000 passenger vehicles from the road for a year. Capstone's high efficiency combined heat and power end-use customers had the largest energy savings on a per project basis compared to the oil and gas end-users where their primary focus is currently on reliability. The natural resource market vertical, which includes oil and gas, is currently Capstone's largest in terms of installations on a historical basis. However, Capstone's new Signature Series product line-up is making significant progress in the CHP market, which is specifically focused on growing the energy efficiency market vertical and continuing to diversify Capstone's business. In fiscal 2018, the energy efficiency market vertical accounted for 47% of product revenues, followed by the natural resource at 38% and renewable energy at 9%. The critical power and microgrid market verticals combined for 6% of annual product sales. In calculating the figures above, the company used average nationwide utility grid costs where available, otherwise it assumed 0.15 $/kWh. For off-grid applications, the company assumed diesel cost of $1/liter, LPG cost of $0.44/liter and natural gas cost of $7/Mscf globally.

08:32 EDT ViewRay's MRIdian Linac adopted by University of Wisconsin for patient treatment - ViewRay announced that University of Wisconsin Carbone Cancer Center in Madison, Wisconsin, has begun patient treatments with the company's MRIdian Linac, following an upgrade of the hospital's original MRIdian System. The MRIdian Linac combines the benefits of MR-image guidance with linear accelerator radiation delivery for the precision treatment of cancer.

08:27 EDT Oramed begins food effect study for oral insulin capsule - Oramed has initiated a food effect study in the U.S. for its oral insulin capsule ORMD-0801. The food effect study aims to evaluate the pharmacokinetics and pharmacodynamics of ORMD-0801 taken at different times in relation to meals in healthy volunteers and subjects with type 1 diabetes. Up to 48 subjects will be enrolled including 24 healthy volunteers and 24 subjects with type 1 diabetes.

08:18 EDT Shopify launches Shopify Ping - Shopify (SHOP) announced the launch of Shopify Ping, a free mobile app that brings business conversations and tasks all within one interface. With Shopify Ping, merchants will be able to manage their tasks through messaging on their mobile phones, spend more time serving their customers and grow their businesses. Shopify Ping is a free iOS app available to Shopify merchants in the App Store. It consolidates messages from other apps used to interact with customers through social media, a merchant's online storefront, email and more in one single interface. In addition, it comes built-in with Shopify's free virtual assistant, Kit, which helps merchants plan, create and manage marketing activities through a conversational interface. With these integrations, Shopify Ping will support actions like running Facebook (FB) and Instagram ads, email campaigns and retargeting campaigns, as well as customer conversations.

08:16 EDT John Wiley & Sons increases dividend 3.1% to 33c per share - John Wiley and Sons announced that its board has declared a quarterly cash dividend of 33c per share on its Class A and Class B common stock, payable on July 18 to shareholders of record on July 3. The 33c per share reflects an increase of 3.1% over the previous quarterly payout of 32c per share, and marks the 25th consecutive year that Wiley has raised its quarterly dividend.

08:10 EDT Heron Therapeutics HTX-001 achieves primary endpoints in Study 209, 211 - Heron Therapeutics announced positive topline results from two completed Phase 2b studies of HTX-011: Study 209 and Study 211. HTX-011 achieved the primary endpoints in both studies. Study 209 was a randomized, placebo- and active-controlled, double-blind, Phase 2b clinical study in patients undergoing primary unilateral total knee arthroplasty to evaluate the analgesic efficacy, safety and pharmacokinetics of HTX-011 locally administered into the surgical site. Following a dose-escalation phase, 222 patients were randomized to receive: HTX-011 400 mg administered via instillation into the surgical site; HTX-011 400 mg administered via instillation into the surgical site with a low dose of ropivacaine injected into the posterior capsule (HTX-011 combination); bupivacaine 125 mg administered via multiple injections into the surgical site; and placebo. Ropivacaine and bupivacaine are generically available standard-of-care local anesthetics used in the management of postoperative pain. This study included a pre-specified hierarchical testing strategy for the primary and key secondary endpoints for the HTX-011 400 mg treatment groups. The primary endpoint was pain intensity as measured by the area nder the curve, or AUC, from 0 to 48 hours post-surgery for HTX-011 compared to placebo. The key secondary endpoint was pain intensity as measured by the AUC from 0 to 72 hours post-surgery for HTX-011 compared to placebo. The primary and key secondary endpoints were achieved. Study 211 was a randomized, placebo- and active-controlled, double-blind, Phase 2b dose-finding study in patients undergoing augmentation mammoplasty to evaluate the analgesic efficacy, safety and pharmacokinetics of HTX-011 when administered by instillation into the surgical site or via ultrasound-guided lateral and medial pectoral nerve block before surgery. The study consisted of three cohorts comparing HTX-011 nerve block to the standard dose of bupivacaine 50 mg, administered as a nerve block, and placebo, and a final cohort comparing both HTX-011 400 mg administered by instillation and HTX-011 400 mg administered as a nerve block to the same two control groups. A total of 243 patients were enrolled. The primary endpoint was pain intensity as measured by the AUC from 0 to 24 hours post-surgery compared to placebo. The primary endpoint of the study was achieved.

08:06 EDT Heron Therapeutics says HTX-011 receives Breakthrough Therapy Designation - Heron Therapeutics announced that HTX-011 for postoperative pain management has received Breakthrough Therapy designation from the U.S. FDA. HTX-011 is an investigational, long-acting, extended-release formulation of the local anesthetic bupivacaine in a fixed-dose combination with the anti-inflammatory meloxicam for the management of postoperative pain. Breakthrough Therapy designation was granted for HTX-011 based on the results of Phase 2 studies and two recently completed Phase 3 studies, which showed that HTX-011 produced significant reductions in both pain intensity and the need for opioids through 72 hours post-surgery compared to placebo and bupivacaine solution, the standard of care. "We are pleased that HTX-011 has received Breakthrough Therapy designation from the FDA," said Barry D. Quart, Pharm.D., CEO of Heron Therapeutics. "HTX-011 is the only long-acting local anesthetic to demonstrate significantly reduced postoperative pain and opioid use through 72 hours compared to bupivacaine solution, the standard-of-care local anesthetic for postoperative pain management, in Phase 3 studies. We look forward to working towards the submission of an NDA to the FDA for HTX-011 in the second half of 2018."

08:06 EDT ContraVir says TXL displayed 'favorable' safety, tolerability profile in study - ContraVir Pharmaceuticals announced the company has chosen an optimized formulation of tenofovir exalidex and is ready to initiate dosing HBV patients in a dose-range finding study with the optimized formulation. TXL has been designed to target the liver to deliver the active drug to the reservoir where the hepatitis B virus resides. TXL displayed a favorable safety and tolerability profile in a completed Phase 2a study of HBV patients at doses up to 100 mg. The Phase 2a study confirmed that TXL administration resulted in lower circulating levels of tenofovir, compared with levels observed after administration of Viread Higher circulating levels of TFV, associated with TDF, have previously been shown to cause kidney and bone toxicities. Importantly, TXL dosing reduced viremia to the same extent as TDF, while minimizing TFV levels associated with these well-known toxicities. ContraVir undertook studies to optimize the formulation of TXL to allow for more efficient, predictable, and precise delivery to the target organ, thereby potentially reducing drug burden while maintaining consistent efficacy. The optimization of TXL was additionally designed to diminish the impact of physiological variables allowing for more consistent delivery of the prodrug to the site of action. Consistent and predictable target organ delivery is necessary, especially as curative combination regimens are developed for a functional cure. The objective of the next clinical trial with TXL will be to characterize the pharmacokinetic profile of the new formulation in HBV patients, and to select the target dose to be advanced into a Phase 3 registration clinical development program.

08:05 EDT Blueprint Medicines initiates Voyager Phase 3 clinical trial of Avapritinib - Blueprint Medicines has dosed the first patient in the Voyager Phase 3 clinical trial, which is evaluating the safety and efficacy of avapritinib compared to regorafenib in patients with advanced gastrointestinal stromal tumors. The Voyager trial is designed to enroll patients previously treated with imatinib and one or two additional tyrosine kinase inhibitors. In patients with relapsed metastatic GIST whose disease has progressed following treatment with imatinib, resistance mutations in the activation loop accumulate with higher frequency, limiting the effectiveness of approved TKIs.

08:04 EDT PolarityTE appoints Paul Mann as CFO - PolarityTE announced that Paul Mann of Highbridge Capital Management is the new CFO of the Company effective July 1, 2018. Mann has nearly 20 years of financial industry experience, most recently as the Healthcare Portfolio Manager at Highbridge Capital Management.

08:03 EDT Trovagene starts enrollment for Phase 2 clinical trial of PCM-075 in mCRPC - Trovagene have received Institutional Review Board approval from Dana-Farber/Harvard Cancer Center and its Phase 2 clinical trial of PCM-075 in combination with Zytiga and prednisone in metastatic Castration-Resistant Prostate Cancer is officially activated and recruiting patients. The trial is being conducted by Beth Israel Deaconess Medical Center, Dana-Farber Cancer Institute, and Massachusetts General Hospital Cancer Center. In this Phase 2 trial, PCM-075 in combination with the standard dose of Zytiga and prednisone will be evaluated for safety and efficacy. The primary efficacy endpoint is the proportion of patients achieving disease control after 12 weeks of study treatment, as defined by lack of prostate specific antigen progression in patients who are showing signs of early progressive disease while currently receiving abiraterone acetate and prednisone.

08:02 EDT Gevo, Avfuel enter into renewable jet fuel supply agreement - Gevo announced that it has entered into a long-term agreement to supply its renewable alcohol-to-jet fuel to Avfuel Corporation, effective July 1, 2018. The Supply Agreement with Avfuel is Gevo's first long-term commercial supply agreement for its ATJ. The Supply Agreement contemplates two phases. During the first phase, Gevo will supply Avfuel from its smaller-scale hydrocarbon processing facility it operates in Silsbee, Texas, in partnership with South Hampton Resources. Currently, the Silsbee Facility has the capacity to produce approximately 70,000 gallons of renewable hydrocarbon products per year. During the first phase, Gevo expects to construct a larger-scale hydrocarbon facility at its existing ethanol and isobutanol production facility located in Luverne, Minnesota to produce larger quantities of ATJ, subject to Gevo's receipt of sufficient financing. Upon completion of the Luverne Hydrocarbon Facility, the second phase of the Supply Agreement would commence, which would have a term of five years, subject to extension upon the mutual agreement of the parties. During the second phase, Gevo would supply Avfuel with larger volumes of ATJ, ramping up to 1,000,000 gallons of unblended ATJ per year, which, when blended with conventional jet fuel, would produce many millions of gallons of finished ASTM D1655 jet-fuel product for distribution per year.

08:02 EDT Citizens Community Bancorp, Inc. trading resumes

08:02 EDT Reading International: Derivative litigation dismissed against all directors - Reading International announced that the Nevada trial court dismissed with prejudice all claims asserted against Reading Directors Guy Adams, Ellen Cotter and Margaret Cotter by James J. Cotter, Jr., in his purported derivative litigation in the case of Cotter v. Cotter, et al., Case No. A-15-719860-B. The District Court granted the summary judgment motions from the bench on June 19, 2018, and a final order is now being prepared. The previously announced July 9, 2018 trial date has been vacated. All claims against Directors Judy Codding, William Gould, Edward L. Kane, Douglas McEachern and Michael Wrotniak were previously dismissed with prejudice by the District Court's order dated December 28, 2017. The dismissal with prejudice of claims against our Directors was entered by the District Court over the protests of Mr. Cotter, Jr., and it is anticipated that Mr. Cotter, Jr. will likely appeal the District Court's decision. Mr. Cotter, Jr. has previously appealed the District Court's December 28, 2017 decision dismissing the above named directors.

07:39 EDT Citizens Community Bancorp to acquire United Bank for approx. $50.7M - Citizens Community Bancorp and United Bancorporation announced the execution of an agreement and plan of acquisition whereby Citizens will acquire United Bank from United Bancorporation in a cash transaction valued at approximately $50.7M. Located in northwest Wisconsin, United Bank is a full-service community bank with branches in Osseo, Strum, Eleva, Ettrick, Eau Claire and Mondovi. As of March 31, 2018, United Bank had $281M in total assets. The combined franchise is expected to strengthen the presence and capacity of Citizens in the Chippewa Valley, providing stable, low cost funding to support loan growth, while creating operating efficiencies.The board of directors of both companies approved the transaction, which is subject to customary conditions, including the approvals of bank regulatory agencies. The transaction is expected to be immediately accretive to earnings and results in a tangible book value dilution earn back of approximately 4.4 years. Estimated cost savings are projected to be greater than 40% of United Bank's operating expenses. On June 20, 2018, Citizens also entered into a securities purchase agreement and a registration rights agreement with each of a limited number of institutional and other accredited investors, including certain officers and directors of Citizens, pursuant to which the Company expects to sell an aggregate of 500,000 shares of the Company's Series A Mandatorily Convertible Non-Cumulative Non-Voting Perpetual Preferred Stock, par value $0.01 per share, in a private placement at $130 per share, for aggregate gross proceeds of $65M. Citizens intends to use the net proceeds from the Private Placement to finance a portion of the acquisition of United Bank and pay related expenses, to support its capital ratios in connection with the acquisition, and for general corporate purposes, including organic growth, funding acquisition opportunities, de novo branching into new markets or other organic expansion of our business.

07:38 EDT Kroger reports Q1 identical supermarket sales, without fuel, of 1.4% - Kroger reported identical supermarket sales, without fuel, of 1.4% for the first quarter of 2018. When calculating identical sales to be more inclusive of company business units - including Kroger Specialty Pharmacy and ship-to-home solutions - Kroger's identical sales, without fuel, were 1.9% in the first quarter. The company intends to use this calculation going forward as a more appropriate measure to track Kroger's performance as it redefines the grocery customer experience, and to be more comparable with how peers report.

07:35 EDT Kroger backs FY18 CapEx view approximately $3B - Kroger expects its 2018 tax rate to be approximately 22%.

07:35 EDT Kroger expects net total debt to adjusted EBITDA ratio to increase through FY18 - Kroger's net total debt to adjusted EBITDA ratio increased to 2.43 on a 52-week basis. The company's net total debt to adjusted EBITDA ratio target range is 2.30 to 2.50. Kroger expects its net total debt to adjusted EBITDA ratio to increase throughout the year due to increased borrowings to fund its investment in Ocado, its planned merger with Home Chef, and tax payments related to the gain on the sale of the convenience store business unit.

07:31 EDT Kroger reports Q1 gross margin 21.8% of sales - Excluding fuel and the LIFO charge, gross margin decreased 13 basis points from the same period last year.

07:18 EDT Top-five national payer issues positive coverage decision for Myriad's Prolaris - Myriad Genetics announced that it has received a positive medical policy decision for its Prolaris prostate cancer test from one of the nation's top-five insurance companies. This positive coverage decision follows the recently updated National Comprehensive Cancer Network medical guidelines for prostate cancer, which support Prolaris as a standard-of-care genetic test for men diagnosed with low and favorable-intermediate risk prostate cancer. Since being included in NCCN guidelines, coverage has increased significantly. In May, the company announced that Prolaris received seven positive commercial coverage decisions, representing roughly six million covered lives.

07:13 EDT Cigna to intensify drug prevention, treatment efforts in U.S. communities - Cigna is intensifying its commitment to curtail the opioid epidemic by focusing new drug prevention and treatment efforts in targeted U.S. communities. The company will collaborate with employers, customers, prescribing clinicians, pharmacists and community-based organizations to reduce the number of opioid overdoses by 25% among its commercial customers in these communities by December 2021. Initially, Cigna will focus its local efforts in areas where a sizable number of Cigna commercial customers reside and where there are higher than average overdose rates, including communities in the states of Connecticut, Maryland, New Jersey and Virginia and in the metropolitan areas of Chicago, New York, Philadelphia and Washington, D.C. The goal is to reduce prescription and illicit opioid overdoses in these areas, and Cigna will advance initiatives that impact both Cigna customers and the communities at large. To support this initiative, Cigna and the Cigna Foundation will expand and accelerate the impact of community-based organizations that are leading localized programs. Cigna intends to learn from initial efforts during the three year time period and expand to other communities over time. Cigna has expanded an existing program that uses predictive analytics to identify customers who are most likely to suffer from an opioid overdose and prompts interventions to help prevent the overdose from happening. In addition to continuing national efforts to address the opioid epidemic, the company will partner locally to develop immediate and long-term approaches that make it easier for people to access treatment for substance use disorders. Examples include medication-assisted treatment, or MAT, comprehensive pain management and enhanced support and counseling, and making naloxone more readily available for treatment of an overdose. The company will also continue to reinforce safe prescribing guidelines, and will encourage a coordinated pharmacy care approach that includes care providers and community pharmacists. To track against the goal of reducing overdoses by 25 percent, Cigna will measure claims submitted with an opioid overdose diagnosis code. The company will also continue to measure the total volume of opioids being prescribed based on morphine milligram equivalent doses, taking into account the number of pills and the dosing of those pills, as well as the relative strengths of opioid medications. Cigna will also continue to ask provider groups to sign a pledge to reduce opioid prescribing and to treat opioid use disorder as a chronic condition. To date, more than 9,000 provider groups and more than 130,000 prescribing clinicians have signed the Cigna opioid pledge, which dovetails with the U.S. Surgeon General's "Turn the Tide" pledge and the CDC's opioid prescribing guidelines.

07:11 EDT Ritchie Bros. sells over $44M of equipment in Houston auction - Ritchie Bros. held its third Houston auction of 2018, selling over 4,300 equipment items and trucks over two days for more than $44M. More than 4,150 people from 55 countries registered to bid in the auction, including 2,800+ online bidders who purchased 63% of the equipment. U.S. buyers purchased 87% of the equipment, while international buyers from such countries as Argentina, China, and the United Arab Emirates purchased 13% of the equipment. All items were sold without minimum bids or reserve prices.

07:08 EDT Darden announces new $500M share repurchase program - During the quarter, the company repurchased approximately 0.3M shares of its common stock for a total cost of approximately $27M. In addition, Darden's Board of Directors authorized a new share repurchase program under which the company may repurchase up to $500M of its outstanding common stock. This repurchase program does not have an expiration and replaces the previously existing share repurchase authorization.

07:06 EDT Voyager Therapeutics announces FDA RMAT designation granted for VY-AADC - Voyager Therapeutics announced that the U.S. Food and Drug Administration granted Regenerative Medicine Advanced Therapy designation for Voyager's VY-AADC gene therapy treatment for Parkinson's disease in patients with motor fluctuations that are refractory to medical management. Recently established under the 21st Century Cures Act, RMAT designation is an expedited program for the advancement and approval of regenerative medicine products, including gene therapy products. The designation includes all the benefits of the FDA's Fast Track and Breakthrough Therapy designation programs, with the ability for early interactions with the agency to discuss any surrogate or intermediate endpoints to support the potential acceleration of approval and satisfy post-approval requirements. An investigational drug or therapy is eligible for RMAT designation if it meets the definition of a "regenerative medicine therapy" as defined in the 21st Century Cures Act, it is intended to treat, modify, reverse, or cure a serious or life-threatening disease or condition, and preliminary clinical evidence indicates that the therapy has the potential to address unmet medical needs for such disease or condition. RMAT designation for VY-AADC was granted based on clinical data from the ongoing Phase 1b trial with VY-AADC in patients with Parkinson's disease. During this trial, one-time administrations of VY-AADC demonstrated robust and durable improvements in patients' motor function along with substantial reductions in use of daily oral levodopa and other Parkinson's disease medications. Infusions of VY-AADC have been well-tolerated in this trial with no vector-related serious adverse events reported to date.

07:05 EDT Casi Pharmaceuticals partners with Yiling Wanzhou International Pharma - Casi Pharmaceuticals announced a strategic and long-term manufacturing agreement with Yiling Wanzhou International Pharmaceutical for the manufacturing of entecavir and cilostazol. Yiling Wanzhou International Pharmaceutical is a subsidiary of Shijiazhuang Yiling Pharmaceutical. The contracted manufacturing facilities have been inspected by both the FDA and China FDA and operate to strict International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use Good Manufacturing Practice standards, which will enable CASI to eventually sell both entecavir and cilostazol in the U.S., China and worldwide markets. Entecavir and cilostazol are part of the 29 abbreviated new drug applications that CASI acquired from Sandoz in January. The FDA approved entecavir in 2005 for the treatment of chronic hepatitis B viral infection. The 2016 estimated sales in China for entecavir were approximately $1.5B. The FDA approved cilostazol in 2006 for the reduction of symptoms of intermittent claudication. The 2016 estimated sales in China for cilostazol were approximately $65M.

07:02 EDT Incyte says REACH1 trial met primary endpoint of ORR for Ruxolitinib - Incyte announced positive topline results from its ongoing pivotal Phase 2 REACH1 trial evaluating ruxolitinib, or Jakafi, in combination with corticosteroids for the treatment of patients with steroid-refractory acute graft-versus-host disease. The study met its primary endpoint, demonstrating an overall response rate of 55% at Day 28. In addition, the best overall response rate , the number of patients achieving a response at any time point during the study, was 73%. The most common treatment-emergent adverse events of any grade were anemia, thrombocytopenia and neutropenia. Based on these data from REACH1, Incyte plans to file a Supplemental New Drug Application for the approval of ruxolitinib for the treatment of steroid-refractory acute GVHD with the U.S. FDA during the third quarter of 2018. "The results of the REACH1 study demonstrate the potential of ruxolitinib to meaningfully improve the outcomes of allogeneic transplant patients who develop steroid-refractory acute GVHD and further underscore the promise of JAK inhibition to advance the treatment of this potentially-devastating condition," said Steven Stein, M.D., Chief Medical Officer, Incyte. "We look forward to sharing additional results from this study with the medical community, and to working with U.S. regulatory authorities to submit our supplementary new drug application seeking approval of ruxolitinib in this indication later this year."

07:01 EDT Darden reports Q4 Olive Garden same-restaurant sales up 2.4%

06:56 EDT Dollar General expects to create approximately 7,000 new jobs in FY18 - Over the next 10 days, Dollar General is looking to fill management roles across the 44 states it serves to support its growing organization. Opportunities within retail operations, distribution centers and corporate functions are now available online. This hiring initiative is part of the Company's efforts to support previously-announced FY 2018 growth plans. "It's an exciting time to join Dollar General as we seek qualified candidates to support our tremendous growth," said Bob Ravener, Dollar General's executive vice president and chief people officer. "In FY 2018 alone, we plan to create approximately 7,000 new jobs, in addition to the approximately 50,000 jobs we have created in the last decade. Our philosophy of championing career development among our nearly 130,000 employees, our commitment to investing in our people as a competitive advantage and our mission of Serving Others are keys to our growth and make Dollar General an employer of choice to top talent looking to advance their careers."

06:41 EDT Alarm.com launches Home Builder program - Alarm.com announced a comprehensive home builder program today. The program includes new hardware and service plans designed to facilitate partnerships between home builders and Alarm.com's service provider partners. Home builders can rapidly deploy a full-range of Alarm.com's home solutions in new communities and model homes, with the aim of minimizing risks and costs through Alarm.com's nationwide network of service provider partners for hardware installation and ongoing support.

06:27 EDT Alibaba reports 8.6% stake in ZTO Express

06:07 EDT Mesoblast presents Day 100 survival outcomes of Phase 3 trial for remestemcel-L - Mesoblast announced key Day 100 survival outcomes of its Phase 3 trial for remestemcel-L, an allogeneic mesenchymal stem cell product candidate, in children with steroid refractory acute Graft Versus Host Disease. The results are being presented today at the 2018 annual meeting of the International Society for Stem Cell Research, being held in Melbourne from June 20-23. The open-label Phase 3 trial enrolled 55 children with steroid-refractory aGVHD (aged between two months and 17 years) in 32 sites across the United States, with 89% of patients suffering from the most severe form, grade C/D aGVHD. The trial was performed under a FDA Investigational New Drug Application (NCT#02336230). This trial previously met the primary endpoint of Day 28 overall response rate (69% versus 45% historical control rate). Top line Day 100 results demonstrated 87% survival rate for Day 28 responders to remestemcel-L treatment (33/38), and an overall survival rate of 75% (41/55). The multi-infusion regimen of remestemcel-L was well tolerated. Based on interactions with the FDA, Mesoblast believes that successful results from the completed Phase 3 trial, together with Day 180 safety, survival and quality of life parameters in these patients, may provide sufficient clinical evidence to file for accelerated approval of remestemcel-L in the United States, where there are currently no approved products for steroid-refractory aGVHD.

06:04 EDT West Pharmaceutical appoints Bernard Birkett CFO - West Pharmaceutical (WST) announced it has appointed Bernard Birkett to serve as senior VP, CFO and Treasurer, effective June 21. Birkett will succeed William Federici, who announced in March his intention to retire later this year. Federici will remain at West in an advisory capacity to oversee the transition. Birkett joins West from Merit Medical Systems (MMSI) where he most recently served as CFO and treasurer. Over a 20-year career at Merit, Birkett served in a number of senior global leadership roles, including controller for Europe, Middle East and Africa, or EMEA, and VP of international finance.

05:52 EDT Elbit Systems awarded $17M contract by European country for EW, SIGINT systems - Elbit Systems announced that it was awarded an approximately $17M contract from a European country to supply a range of advanced ground-based Electronic Warfare, or EW, and Signal Intelligence, or SIGINT, systems. The contract will be performed over a two-year period.

05:37 EDT iClick Interactive Asia enters partnership with Bilibili - iClick Interactive Asia (ICLK) announced a strategic partnership with Bilibili (BILI). This collaboration will help international and local brands more effectively target the large Generation Z and Millennial userbase of Bilibili. Generation Z and Millennials represent the high consumer spending potential in China. This key demographic has grown up with both the internet and social media, and these digital natives make up over 80% of the current users on Bilibili. As of Q1, Bilibili had over 77.5M monthly active users on the platform. These users communicate through a unique comment socialisation system, creating over 7,000 cultural circles and browsing video content in various fields. The partnership will support data collaboration and exchange between the parties enabling iClick to collect a large amount of data about the social behaviours of Bilibili users. iClick can then use this data to enrich audience datasets which will underpin tailored marketing solutions for brands that are keen to target China's Generation Z and Millennial audience. Furthermore, Bilibili will benefit from their advertising partners being able to release more targeted ads to their users, made possible by iClick's data collection and analysis. Through iClick's powerful big data capabilities, insights about social behaviour can be provided to a broad spectrum of advertisers, helping them to target key user segments within the Generation Z and Millennial groups.

05:16 EDT Ecopetrol to prepay international loans guaranteed by U.S. Exim Bank for $156M - Ecopetrol S.A. reports it will prepay all loans entered into in 2013 with international banks and guaranteed by the US Export-Import Bank, which had been subject to a payment schedule to 2023. The loan agreements allow Ecopetrol to prepay without penalty all principal on the interest payment dates, which are scheduled for July 6 and 25, 2018. Total principal plus accrued interest owed is $155.98M.