Stockwinners Market Radar for July 03, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:06 EDT Ballard Power acquires fuel cell assets of Ford, Daimler's AFCC - Ballard Power Systems (BLDP) announced that it has acquired certain strategic assets of Automotive Fuel Cell Cooperation Corporation a private company owned by Daimler AG (DDAIF) and Ford Motor Company (F). As part of a planned wind-down of AFCC's operations in Vancouver, which are co-located with Ballard at its headquarters, Daimler and Ford have in-housed and relocated their fuel cell stack development activities to Germany and the U.S., respectively. As a result, Daimler and Ford have agreed to sell AFCC assets to Ballard. Randy MacEwen, Ballard's President & CEO said, "This acquisition supports and accelerates our growth plans in two key respects. First, it immediately provides needed expansion of our product and material testing capabilities that will be used to support new and existing programs, products, as well as customers. In addition, we have acquired key production equipment that provides much of the incremental capacity needed to meet forecasted growth over the next five years."

20:01 EDT Motorola Solutions says ITC judge finds Hytera infringed four patents - Motorola Solutions announced that Administrative Law Judge Mary Joan McNamara of the U.S. International Trade Commission has issued a favorable Notice of Initial Determination in its investigation of the patent infringement complaint filed by Motorola Solutions on March 29, 2017 against Hytera Communications Corporation Limited. In the complaint, Motorola Solutions alleged that Hytera is unlawfully importing and selling two-way radio equipment and systems and related software and components that infringe four of Motorola Solutions' patents. These patents pertain to technologies central to the operation of Hytera's professional and commercial radio products available today. As part of the Initial Determination, Judge McNamara found that all four of Motorola Solutions' patents are valid, Hytera has infringed them, and Motorola Solutions met the legal requirement of showing a "technical domestic industry" on three of the four patents, the company said in a statement. Judge McNamara also recommended an exclusion order preventing the importation of infringing products into the United States for Motorola Solutions' U.S. Patents No. 7,369,869, 7,729,701 and 8,279,991, as well as a cease-and-desist order preventing the further sale and marketing of certain infringing products imported into the United States. A Final Determination by the ITC is scheduled to be issued by Nov. 6, 2018.

19:56 EDT Nike names Noel Kinder Chief Sustainability Officer - Nikes announced that Noel Kinder will become the company's new VP, Chief Sustainability Officer, effective Sept 5. Kinder is a 19-year Nike veteran, and was most recently VP, Sustainable Manufacturing and Sourcing. Kinder succeeds Hannah Jones, a 20-year Nike veteran as Chief Sustainability Officer, who after 14 years in the role will become President of Nike Valiant Labs, the company's in-house new business model incubator.

16:40 EDT Barnes & Noble terminates CEO Demos Parneros for violation of policies - The board Barnes & Noble announced the termination of its CEO, Demos Parneros, for violations of the company's policies. This action was taken by the company's board, who were advised by the law firm Paul, Weiss, Rifkind, Wharton & Garrison. Parneros' termination is not due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto, Barnes & Noble said in a statement. Parneros will not receive any severance payment and he is no longer a member of the company's board. Barnes & Noble has appointed a leadership group to share the duties of the office of the CEO until a new leader is named. Those appointed include: Allen Lindstrom, Chief Financial Officer, Tim Mantel, Chief Merchandising Officer and Carl Hauch, Vice President, Stores. Leonard Riggio remains Executive Chairman of the Company and will be involved in its management. The company said it will begin an executive search for a new CEO and that no changes in its goals or objectives are planned. Additionally, the company affirms its previously announced EBITDA guidance of $175M-$200M for fiscal 2019.

15:12 EDT Mid Penn Bank seeks regulatory approval to open Pillow, PA branch - Mid Penn Bank, subsidiary of Mid Penn Bancorp, Inc., is seeking regulatory approval to open a branch at 193 Market Street in Pillow, PA. The bank today submitted an application to the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Upon receiving the necessary approvals and completing renovations, Mid Penn anticipates opening the branch in September of 2018.

15:03 EDT Franklin Electric acquires Industrias Rotor Pump, terms not disclosed - Franklin Electric announced that it has acquired Industrias Rotor Pump S.A. headquartered in Buenos Aires, Argentina. Industrias Rotor Pump imports, manufactures, assembles, and distributes a large variety of water pumping equipment for sale to distributors and other resellers in the Argentine market place. In their fiscal year 2017, Industrias Rotor Pump had annual sales of approximately $21M. Results of Industrias Rotor Pump will be reported in the Water Systems segment beginning in the third quarter of 2018. The company expects this acquisition to be accretive to 2019 earnings per share.

14:41 EDT Air Industries announces termination of Welding Metallurgy sale - Air Industries Group (AIRI) announces that it has terminated its previously announced sale of its Welding Metallurgy Inc., subsidiary to CPI Aerostructures Inc (CVU). Air Industries CEO, Luciano Melluzzo stated, "We entered into a definitive agreement on March 21, 2018 for CPI to purchase WMI and anticipated closing the transaction by June. Air Industries gave CPI more than adequate time, access and assistance to close this transaction timely. The contract had a termination date of June 19, 2018 and we granted CPI an extension and offered concessions. It has become increasingly apparent that CPI was simply not going to be able to close this transaction on a timely basis, if at all. We have decided it is in the best interests of Air and our employees to cease efforts in closing the transaction, in accordance with the terms of our agreement. Air Industries and our management team continues to reposition our business to obtain profitability and positive cash flows and we are pleased with the efforts we have taken to-date. All of our businesses are showing signs of improvement. We will announce additional details regarding our repositioning plan during our next quarterly conference call."

14:15 EDT Essendant says FTC plans on issuing civil investigative demand - Essendant disclosed the following in a regulatory filing: "As previously disclosed, on June 1, Sycamore Partners iled a notification and report with the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act, as amended, in connection with the April 29, unsolicited proposal from Staples to acquire Essendant. On July 2, Essendant was informed by the FTC that the FTC intends to issue a civil investigative demand to Essendant in connection with Sycamore's filing under the HSR Act. Essendant believes that the FTC has issued Sycamore a second request with respect to this filing."

13:15 EDT AXM Pharma appoints Linda Forster as CEO - AXM Pharma announced that its chairman, Emmanuel Neossi, has appointed Linda Forster as the new CEO effective immediately. As announced on July 2, Mandla Gwadiso resigned as CEO, CFO, president, director, secretary, and treasurer. The resignation was not the result of any disagreement with the company on any matter relating to its operations, policies or practices.

13:01 EDT Adage Capital reports 5.64% passive stake in Xenon Pharmaceuticals

12:35 EDT Mercedes-Benz USA report June sales of 26,191, a decrease of 9.7% - Mercedes-Benz USA reported June sales of 26,191 Mercedes-Benz models, a decrease of 9.7% from the best-ever June sales reported during the same time period last year at 28,994 vehicles sold. Mercedes-Benz Vans reported June sales of 2,808 units and smart reported 126 units, bringing MBUSA to a grand total of 29,125 vehicles for the month. On a year-to-date basis, Mercedes-Benz recorded sales of 158,848, adding 16,910 units for Vans and 650 vehicles for smart, MBUSA's year-to-date sales volume totaled 176,408, a decrease of 1.9% from last year. "June sales were mainly impacted by limited availability of our larger SUVs, the GLE and GLS, whose production was affected by a fire at a supplier facility in May," said Dietmar Exler, president and CEO of MBUSA.

12:16 EDT Orin Hirschman reports 7.3% passive stake in Achieve Life Sciences

12:14 EDT UMC says Chinese court issued preliminary injunction against Micron - United Microelectronics (UMC) announced that the Fuzhou Intermediate People's Court of the People's Republic of China (PRC) today issued a preliminary injunction against Micron Semiconductor (MU), enjoining Micron from offering to sell, and selling in the PRC 26 DRAM and NAND-related items, including certain solid-state hard drives and memory sticks in China. Jason Wang, co-president of UMC, stated, "UMC is pleased with today's decision. UMC invests heavily in its intellectual property and aggressively pursues any company that infringes UMC's patents." UMC filed patent infringement lawsuits against Micron with the mainland China courts in January, 2018, covering three areas, including specific memory applications related to DDR4, SSD and memory used in graphics cards. With today's ruling, Micron's products now face injunction for violating UMC's patent rights in a court verdict that applies to all of mainland China, the company said.

12:04 EDT Dr Pepper Snapple reaches agreement with Illinois Teamsters, ends strike - Dr Pepper Snapple Group announced it has reached agreement with Teamsters Local 727 on a four-year collective bargaining agreement covering its delivery and transport drivers in Northlake and Hazel Crest, Ill. Drivers ratified the agreement and returned to work July 2, ending a strike that began on May 22.

12:00 EDT Smart & Final Stores falls -4.7% - Smart & Final Stores is down -4.7%, or -28c to $5.53.

12:00 EDT BBVA Banco Frances rises 14.3% - BBVA Banco Frances is up 14.3%, or $1.66 to $13.28.

12:00 EDT Seadrill rises 17968.6% - Seadrill is up 17968.6%, or $18.33 to $18.43.

11:52 EDT L3 Technologies completes sale of Vertex Aerospace businesses - L3 Technologies announced that on June 29 it completed the previously announced sale of its Vertex Aerospace businesses to American Industrial Partners for $540M in cash, subject to customary adjustments. The sale included the Crestview Aerospace and TCS business units, which were part of L3's Aerospace Systems business segment. "The sale of Vertex is another positive step that will enable us to reshape and align our portfolio with customers' priorities," said L3 CEO Christopher Kubasik. "We will use the proceeds from the sale to continue our strategy of investing in businesses that position our company for growth."

11:08 EDT Trump aims at Harley again, says foreign competition may get help coming to U.S. - Using his official Twitter account, President Donald Trump criticized Harley-Davidson (HOG) again, saying "customers are not happy" with the company's decision to move part of its operation out of the U.S. to avoid tariffs. Trump added that the company's "sales are down 7% in 2017" and that his administration is working with other cycle companies who want to move into the country. CUSTOMERS 'NOT HAPPY': This morning, President Donald Trump said in a tweet that, "Now that Harley-Davidson is moving part of its operation out of the U.S., my Administration is working with other Motor Cycle companies who want to move into the U.S. Harley customers are not happy with their move - sales are down 7% in 2017. The U.S. is where the Action is!" HARLEY TO ABSORB TARIFFS: Last week, Harley-Davidson announced that it would be absorbing the entirety of the impact from recently enacted retaliatory tariffs on motorcycles imported from the U.S. into Europe and plans to move some production to avoid the tariffs, a process that is expected to take 9 to 18 months to complete. In a series of tweets a day after the announcement, President Trump went after the company, saying it is using tariffs and the "trade war" as "an excuse." He went on to tweet: "A Harley-Davidson should never be built in another country-never! Their employees and customers are already very angry at them. If they move, watch, it will be the beginning of the end - they surrendered, they quit! The Aura will be gone and they will be taxed like never before!" PRICE ACTION: In late morning trading, shares of Harley-Davidson have gained over 1% to $42.42. That is down, however, from an early-year high level of $55.95, where the stock had closed on January 24.

10:55 EDT Volkswagen reports June U.S. sales up 5.7% to 28,941 units - Volkswagen of America reported sales of 28,941 units delivered in June, an increase of 5.7% over June 2017.

10:51 EDT Cooper-Standard agrees to acquire Lauren Manufacturing and Lauren Plastics - Cooper Standard announced its agreement to acquire Lauren Manufacturing and Lauren Plastics, subject to regulatory approvals and related parties' consent. The to be acquired companies are extruders and molders of organic, silicone, thermoplastic and engineered polymer products with expertise in sealing solutions for industrial and specialty automotive applications. Terms of the acquisition were not disclosed. "Cooper Standard is pleased to welcome more than 500 Lauren employees across four facilities - two in New Philadelphia, Ohio; one in Kent, Ohio; and one in Spring Lake, Mich. - to the Cooper Standard family. In addition to its talented and experienced employees, the acquired companies' materials expertise will further strengthen Cooper Standard's extensive material science capabilities," the company stated.

10:31 EDT General Motors reports Q2 U.S. sales up 4.6%

10:19 EDT Trump says administration working with cycle makers who want to move to U.S. - President Donald Trump tweeted: "Now that Harley-Davidson is moving part of its operation out of the U.S., my Administration is working with other Motor Cycle companies who want to move into the U.S. Harley customers are not happy with their move - sales are down 7% in 2017. The U.S. is where the Action is!" Reference Link

10:01 EDT Bombardier reports call-off order for 25 TALENT 3 trains from Austrian Federal - Bombardier Transportation announced that Austrian Federal Railways signed a call-off order for the delivery of 25 BOMBARDIER TALENT 3 trains on June 29. This second call-off is based on a framework agreement signed in 2016 for up to 300 trains. The total value of this order is approximately $218M. This call-off includes an option for an additional five trains.

10:00 EDT Britannia Bulk falls -5.0% - Britannia Bulk is down -5.0%, or -31c to $5.84.

10:00 EDT Micro Focus falls -5.9% - Micro Focus is down -5.9%, or -$1.04 to $16.63.

10:00 EDT Acuity Brands rises 15.0% - Acuity Brands is up 15.0%, or $17.57 to $134.69.

09:47 EDT Belmond falls -4.9% - Belmond is down -4.9%, or -55c to $10.65.

09:47 EDT Micro Focus falls -6.4% - Micro Focus is down -6.4%, or -$1.13 to $16.54.

09:47 EDT A10 Networks rises 4.5% - A10 Networks is up 4.5%, or 29c to $6.74.

09:44 EDT Toyota reports June U.S. sales up 3.6% to 209,602 units - Toyota Motor North America reported June sales of 209,602 units. With one more selling day in June 2018 compared to June 2017, sales were up 3.6% on a volume basis and down 0.3% on a daily selling rate basis. Toyota division posted June sales of 185,852 units, up 4.4% on a volume basis and up 1.9% on a DSR basis. Lexus posted June sales of 23,750 units, down 2.6% on a volume basis and down 6.2% on a DSR basis.

09:22 EDT Newmont Mining achieves commercial production at Twin Creeks Underground - Newmont Mining has achieved commercial production at its Twin Creeks Underground expansion project, adding higher-grade, lower-cost gold production at its Twin Creeks operation in Nevada. The project was completed on schedule for $42M, slightly below guidance of between $45M and $55M. The Twin Creeks Underground mine will add between 30,000 and 40,000 ounces of gold production per year at all-in sustaining costs of between $650 and $750 per ounce for its first five years of production. This new ore will also allow Newmont to process stockpiled ore that had previously been classified as waste, and extend processing life to 2030. The Twin Underground mine is mechanized, featuring remotely-operated loaders to improve safety and efficiency. Twin Underground ore will also be blended with ore from Turquoise Ridge. In early 2018, Newmont and Barrick Gold Corporation approved the Turquoise Ridge Mine Optimization project, which involves sinking a production shaft to access the richest part of the deposit. The new shaft is expected to increase ventilation capacity and lower unit costs by more than 200%, while increasing ore production rates to at least 1.1M tons per annum when it comes on line in 2022.

09:21 EDT NXP Semiconductors to contribute to Smart Columbus Experience Center - NXP Semiconductors, has announced the next phase in its Smart City collaboration with Columbus, Ohio, the winner of the 2016 U.S. Department of Transportation's $40M Smart City Challenge. NXP will contribute key technologies for smart and safe mobility to the Smart Columbus Experience Center. The center allows visitors to see how new mobility options, such as connected, autonomous, shared and electric vehicles, will help make Columbus a more connected community.

09:15 EDT Ford reports June U.S. sales up 1.2% to 230,635 vehicles

09:08 EDT On The Fly: Pre-market Movers - HIGHER: Juniper Pharmaceuticals (JNP), up 32% after announcing it has entered into a definitive agreement to be acquired by Catalent (CTLT) at a price of $11.50 per share in cash... Anavex Life Sciences (AVXL), up 21% after announcing approval from the Australian Human Research Ethics Committee to initiate its Phase 2b/3 safety and efficacy trial of ANAVEX 2-73 for the treatment of early Alzheimer's disease... Roku (ROKU), up 5% after Oppenheimer analyst Jason Helfstein upgraded Roku to Outperform from Perform and established a $50 price target for the shares... Campbell Soup (CPB), up 4% after the New York Post reported that Dan Loeb's Third Point is talking with Campbell family members and independent investors about supporting a plan that would result in hiring a bank to explore a possible sale of the company. UP AFTER EARNINGS: Herman Miller (MLHR), up 10%. LOWER: Facebook (FB), down 1% after the Washington Post reported that representatives for the FBI, SEC and FTC have joined the Justice Department in its investigation into the company's sharing of user data with Cambridge Analytica.

09:05 EDT HomeStreet's board confirms combined CEO and chairman roles - The board of HomeStreet announced that the independent directors of the board have determined that the combined role of CEO and board Chair continues to be in the best interest of its shareholders and further reappointed Mark Mason to the role of board chair. In connection with that determination, the independent directors confirmed their commitment to a board structure that includes a lead independent director who will preside over meetings of the independent directors and also serve as the liaison between the board chair and the independent directors, among other things, and further elected Donald Voss to serve as lead independent director effective immediately. The HomeStreet board first combined the roles of board chair and CEO in March 2015 and since that time Scott Boggs has served as lead independent director until Voss was elected to the position.

09:03 EDT Cray systems selected by Indian Institute of Technology Bombay - Cray announced that the Indian Institute of Technology Bombay, or IIT Bombay, a world-renowned global technology university, has selected a Cray XC50 system and Cray ClusterStor scale-out Lustre storage system to power breakthroughs in science, engineering research and education. The new supercomputer, coupled with Cray's performance-engineered storage solution, will support IIT Bombay in its mission to deliver transformative education to create leaders and innovators.

08:39 EDT ILG to hold stockholder meeting to vote on Marriott Vacations merger - ILG (ILG) announced that it will hold a special meeting of its stockholders on August 28 at ILG's corporate offices, at which ILG stockholders will vote on the previously announced proposed merger of ILG and Marriott Vacations (VAC) and related matters pursuant to the agreement and plan of merger dated as of April 30. ILG stockholders of record at the close of business on July 13 will be entitled to receive notice of the special meeting and to vote at the special meeting. The parties currently expect closing to occur on the third business day after the satisfaction or waiver of all of the conditions to closing, including receipt of ILG stockholder approval and Mexican anti-trust approval.

08:36 EDT Portola Pharmaceuticals approves grant of an inducement stock option - Portola Pharmaceuticals announced that on June 27 the Compensation Committee of the Board of Directors approved, effective as of June 29 the grant of an inducement stock option to purchase 87,500 shares of common stock and an award in the form of 25,000 restricted stock units to Glenn Brame, the Company's newly appointed Senior Vice President, Technical Operations. The stock option shall have an exercise price per share of $37.77, the closing price per share of the Company's Common Stock on June 29 and will vest over four years, with 25% of the shares vesting on June 25, 2019, the one-year anniversary of the vesting commencement date, and the remaining shares vesting ratably over the subsequent 36 months, subject to Brame's continued service with the Company.

08:35 EDT Eagle Pharmaceuticals announces issued patent related to Bendeka - Eagle Pharmaceuticals announced that an additional patent has been issued related to Bendeka by the United States Patent and Trademark Office, or USPTO. Patent number 10,010,533 will expire January 2031. The USPTO has now issued or allowed a total of 15 patents in the Bendeka family of patents expiring from 2026 to 2033. The newly issued patent will be listed in the FDA's Orange Book bringing Eagle's total Orange Book listed patents for Bendeka to 13. The FDA will not be able to approve any drug applications referencing Bendeka until the orphan drug exclusivity expires in December 2022. Moreover, the Company now does not expect generic Treanda entrants into the market until December 2022, rather than November 2019.

08:33 EDT Marriott Vacations to hold special meeting on August 23 regarding ILG merger - Marriott Vacations Worldwide Corporation (VAC) announced that it will hold a special meeting of its stockholders at 9:00 a.m., Eastern Time, on August 28, 2018 at the Renaissance Orlando at SeaWorld, Orlando, Florida, at which Marriott Vacations Worldwide stockholders will vote on the issuance of shares of Marriott Vacations Worldwide common stock to stockholders of ILG, Inc. (ILG) and related matters pursuant to the Agreement and Plan of Merger dated as of April 30, 2018, by and among Marriott Vacations Worldwide, ILG, Ignite Holdco, Inc., Ignite Holdco Subsidiary, Inc., Volt Merger Sub, Inc., and Volt Merger Sub LLC. The parties currently expect closing to occur on the third business day after the satisfaction or waiver of all of the conditions to closing, including receipt of ILG stockholder approval and Mexican anti-trust approval.

08:30 EDT Viveve submits VIVEVE II clinical study patient safety data to FDA - Viveve Medical announced that it has submitted 30-day patient safety data to the U.S. Food and Drug Administration for 38 subjects completing the 1-month assessment in the company's multicenter randomized Viveve Treatment of the Vaginal Introitus to EValuate Safety and Efficacy clinical study. VIVEVE II is a randomized, double-blinded, and sham-controlled trial with a planned enrollment of approximately 250 subjects at up to 25 study sites in the United States and Canada. Subjects will be randomized in a 1:1 ratio for active and sham treatments. A staged approach for clinical enrollment was required by the FDA in its Investigational Device Exemption approval letter to the company on March 19, 2018. In the first stage, enrollment is limited to 50 subjects and requires safety review by the FDA of a minimum of 25 subjects at one-month post-treatment. The primary efficacy endpoint is intended to be the mean change from baseline in the total FSFI at 12 months. Subjects will also be assessed for safety over the 12 months. The approved protocol also includes a variety of secondary and exploratory endpoints measured at six months post-treatment that address the efficacy of and improvement in FSFI domain scores for Desire, Lubrication, Orgasm, Arousal, Satisfaction, and Pain.

08:10 EDT PayPal closes $7.6B consumer credit receivables transaction with Synchrony - PayPal Holdings (PYPL) announced the closing of its consumer credit receivables transaction with Synchrony (SYF). Under the terms of the transaction, and related transactions with unaffiliated third parties, Synchrony acquired $7.6B in receivables, including PayPal's U.S. consumer credit receivables portfolio, which totaled $6.8B at the time of closing, and approximately $800M in participation interests in receivables held by unaffiliated third parties. PayPal received approximately $6.9B in total consideration at closing. With the completion of the transaction, PayPal and Synchrony have extended their existing co-brand consumer credit card program agreement, and Synchrony is now the exclusive issuer of the PayPal Credit online consumer financing program in the U.S., through 2028.

08:07 EDT CACI awarded $48M task order for ETRS services to Naval Surface Warfare Center - CACI announced that it has been awarded a $48M task order to provide engineering and technical related services , or ETRS, to the Naval Surface Warfare Center, Indian Head Explosive Ordnance Disposal Technology Division. The five-year, single-award contract, awarded under the U.S. Navy's SeaPort II Omnibus Engineering and Technical Support Services contract vehicle, represents continuing engineering services work in CACI's Surveillance and Reconnaissance market area. CACI will support the Division's Picatinny Detachment, which manages gun weapons systems, ammunition, packaging, handling, storage, and transportation of ordnance materials for the Navy. CACI will provide technical systems engineering analysis, engineering studies, test and evaluation support, and integrated product support for multiple gun weapons systems. The company will also provide engineering, technical, and logistics support services to the programs responsible for acquiring, managing, storing, transporting, and deploying all conventional naval ammunition and missile weapon systems.

08:04 EDT DHT Holdings announces agreement to install scrubbers on twelve of its VLCCs - DHT Holdings announced that it has entered into agreements to install exhaust gas cleaning systems, also know as scrubbers, on twelve of its VLCCs. The Company has entered into agreement with Alfa Laval to supply the systems and has also secured shipyard capacity to install all systems within 2019. The systems will be installed on ships built between 2012 and 2004, the part of the fleet that stands to achieve the greatest economic benefit. These twelve systems will come in addition to the two systems being installed on the newbuildings DHT Bronco and DHT Mustang set for delivery later this quarter from Hyundai Heavy Industries. As such, DHT will have a total of fourteen VLCCs fitted with scrubbers when the IMO Sulphur Cap will be implemented January 1, 2020. The Company has received proposals to finance the majority of the project with debt and is confident to conclude this in the near future.

08:03 EDT Marathon Petroleum, Andeavor announce expiration of HSR waiting period - Marathon Petroleum (MPC) and Andeavor (ANDV) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with the proposed transaction whereby MPC would acquire all of Andeavor's outstanding shares. The parties have also received the necessary regulatory clearance by the Canadian Commissioner of Competition pursuant to the Competition Act. Together, these matters satisfy certain conditions for the closing of the proposed merger. The transaction is still expected to close in the second half of 2018, and remains subject to customary closing conditions, including approval by Andeavor shareholders of the proposed merger, approval by MPC shareholders of the new MPC shares to be issued in connection with the transaction, and the receipt of other required regulatory approvals.

08:03 EDT MabVax Therapeutics grants sublicense to Y-mAbs for neuroblastoma vaccine - MabVax Therapeutics Holdings has granted to Y-mAbs Therapeutics, Inc., a privately held clinical stage biopharmaceutical company, an exclusive sublicense to a bi-valent ganglioside based vaccine intended to treat neuroblastoma, a rare pediatric cancer. The neuroblastoma vaccine was originally developed by Dr. Philip Livingston and colleagues at Memorial Sloan Kettering Cancer Center and licensed as part of a broader portfolio of anti-cancer vaccines to MabVax. MabVax filed for and was granted an Orphan Drug Designation for the neuroblastoma vaccine and has manufactured Phase II clinical supplies for a planned but not initiated clinical trial to be conducted with the consortium New Advances in Neuroblastoma Therapy. NANT is the only consortium of academic medical centers in the world solely dedicated to developing novel treatments and biomarkers for children with Neuroblastoma. Over the last several years MabVax has shifted its focus and resources to the company's human antibody discovery and development programs that are currently in early stage clinical trials and have attracted partner interest. The total value of the transaction to MabVax is $1.3M plus a share of a Pediatric Disease Voucher if granted by the U.S. FDA to Y-mAbs on approval of the vaccine and the Pediatric Disease Voucher is subsequently sold. Additionally, Y-mAbs will be responsible for all further development of the product as well as any downstream payment obligations related to this specific vaccine to MSK that were specified in the original MabVax-MSK license agreement. If Y-mAbs successfully develops and receives FDA approval for the Neuroblastoma vaccine, it is obligated to file with the FDA for a Pediatric Disease Voucher. If the voucher is granted to Y-mAbs and subsequently sold, then MabVax will receive a percentage of the proceeds from the sale of the voucher by Y-mAbs.

08:01 EDT Charles Rimer resigns from Noble Midstream's board, Thomas Walker to replace - Noble Midstream announced the appointment of Thomas Walker to its board. Walker was appointed by Noble Energy to fill the vacancy left by Charles Rimer, senior VP, global services of Noble Energy, who resigned from the board immediately prior to Walker's appointment. Noble Midstream's board consists of seven directors, including three independent directors. Walker was elected senior VP of Noble Energy in February and is currently responsible for U.S. onshore operations. Since joining Noble Energy in 2007, Walker served in various leadership roles.

07:55 EDT Elite Pharmaceuticals receives FDA approval for generic Percocet tablets - Elite Pharmaceuticals announced that it has received approval of the Company's abbreviated new drug application from the U.S. Food and Drug Administration for generic Percocet 5 mg/325 mg, 7.5 mg/325 mg and 10 mg/325 mg tablets. This product is indicated for the management of pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate. Based on QuintilesIMS Health data for the twelve months ending May 31, 2018, the retail sales for the brand and generic products were approximately $500M.

07:36 EDT Chegg acquires StudyBlue for $20.8M in cash - Chegg announced last night that it has acquired StudyBlue, which will become a Chegg Service. Chegg expects to remove the existing paywall in time for the 2018 back to school period to increase the availability of Chegg Services to more students. "StudyBlue adds a substantial number of subject categories to our existing offering, with half a billion pieces of content. By combining StudyBlue's assets with Chegg's, we believe we will significantly expand the number of students to whom we are relevant as well as provide a better experience across the board," said Nathan Schultz, Chief Learning Officer of Chegg. Chegg acquired StudyBlue for approximately $20.8M, in an all cash transaction. As a result of this acquisition, Chegg does not expect any material impact on Q2 or FY18 guidance issued on April 26. Chegg anticipates a restructuring charge of approximately $1.0M in the next year, for facility consolidation as a result of the acquisition.

07:32 EDT Colliers International acquires controlling interest in Sadolin & Albk - Colliers International Group announced that it has acquired a controlling interest in Sadolin & Albk, Denmark's leading capital markets specialist, which will be merged with Colliers International's current operations in Denmark. The partners of Sadolin, together with the existing leadership team of Colliers Denmark, will retain a significant equity stake in the combined business under Colliers's unique enterprise partnership model. Together, Colliers Denmark will have a total of 150 professionals offering a variety of services including capital markets, corporate solutions, commercial lease and sales brokerage, urban consulting & advisory and property valuations, operating from five offices in Copenhagen, Aarhus, Vejle, Aalborg and Odense. Terms of the transaction were not disclosed. Established in 1967, Sadolin brings an exceptional leadership team and 46 professionals with expertise in capital markets. The combined business will be led by Peter Winther, CEO and Jeppe Schonfeld who will serve as Deputy CEO of Colliers International in the region.

07:26 EDT Noble Energy executes new firm sales agreement for Delaware Basin takeaway - Noble Energy announced that it has supplemented its Delaware Basin takeaway position with an additional firm sales agreement which will result in the Company's crude oil reaching the Gulf Coast. The five-year agreement provides for firm gross sales of at least 10 thousand barrels of oil per day beginning in July 2018, increasing to 20 MBbl/d beginning in October 2018 and for the remainder of the agreement. Crude oil sold under the agreement will initially utilize the buyer's existing firm transport capacity to Corpus Christi. Shortly following commencement of full service of the EPIC Crude Pipeline, it is anticipated that crude oil sales under the agreement will be transported by way of the Company's firm transportation capacity. Noble Energy has secured 100 MBbl/d of firm transportation capacity on the EPIC Crude Pipeline for a 10-year period following project startup, which is expected to be in the second half of 2019. The Company previously had executed firm sales agreements to the Gulf Coast or Cushing markets for its Delaware crude oil covering gross oil volumes of 10 MBbl/d for the second half of 2018 and 5 MBbl/d for 2019. The Company also provided an update of its basis hedge position for the remainder of 2018 and 2019. For 2H18, Noble Energy has secured a total of 20 MBbl/d of Midland-Cushing basis swaps at a price differential of $2.30 per barrel. For 2019, the Company has hedged 27 MBbl/d of Midland-Cushing basis at a price differential of $3.23 per barrel.

07:10 EDT Milestone's CompuFlo Epidural System selected to measure epidural simulator - Milestone Scientific announced that the CompuFlo Epidural System was selected to objectively measure the integrity of a third-party, high fidelity epidural simulator in real time and was featured in a research article entitled, "Objective Evaluation of a New Epidural Simulator by the CompuFlo Epidural Instrument," in Anesthesiology Research and Practice, a peer-reviewed journal that provides a forum for health care professionals engaged in perioperative medicine, critical care, and pain management. The study was conducted at the European School of Obstetric Anesthesia, Maternal Neonatal Simulation Centre, in Rome, Italy by Giorgio Capogna, Alessandra Coccoluto, Emanuele Capogna, and Angelica Del Vecchio.

07:03 EDT Akers Biosciences announces agreements with six ISR organizations - Akers Biosciences announces agreements with six more Independent Sales Representative, or ISR, organizations to further expand US sales and marketing capabilities for the Company's rapid test for heparin-induced thrombocytopenia, or HIT. The agreements are with Stone Mountain Surgical, Aspen Scientific, Evolution Surgical, ACT Medical, BCD Medical and Tuzik Boston. Each of the newly appointed ISRs sells and/or distributes medical devices, including surgical instruments and supply products used in cardio vascular, cardio thoracic and general surgery.

07:02 EDT Ensign Group acquires McCall Rehabilitation and Care Center - The Ensign Group announced that it acquired the real estate and operations of McCall Rehabilitation and Care Center, a 40-bed skilled nursing facility located in McCall, Idaho. The acquisition was effective July 1.

06:53 EDT TAL Education says Muddy Waters allegations based on 'erroneous conjectures' - TAL Education Group issued the following statement in response to additional allegations made by Muddy Waters Capital, a short seller. The company said, "Similar to the initial allegations made by the same short seller in June 2018, the additional allegations are based on erroneous conjectures and assumptions. The Company is committed to creating long-term value for its investors, and remains focused on its business strategy to continuously improve its products and services and to maintain a high level of customer satisfaction. The Company's board of directors has been made aware of the additional allegations by this short seller. The board, together with its audit committee, intends to review the allegations made and will consider appropriate actions to protect the interest of its shareholders."

06:25 EDT Ericsson establishes Center of Excellence, Innovation Lab for 5G in India - Ericsson announced that it has established a Centre of Excellence and Innovation Lab for 5G in the country at the Indian Institute of Technology Delhi. This first -of-its-kind 5G innovation Lab, which has been set up by Ericsson for Indian industry and academia to leverage, was dedicated to the nation by the Hon'ble Minister of State for Communications and Minister of State for Railways, Shri Manoj Sinha together with Borje Ekholm, President and CEO, Ericsson at the IIT Delhi today. As per an Ericsson report, 5G enabled digitization revenue potential in India will be $27.3B by 2026. The Indian operators can generate additional revenue of $13B or half of the stated potential if they take up roles beyond being Connectivity and infrastructure providers to become service enablers and service creators. The largest opportunity will be seen in sectors like manufacturing, energy and utilities followed by public safety and health sectors. Some of the 5G use cases that could be implemented using the unique features of 5G technology include industrial control and automation, autonomous driving, safety and traffic efficiency services, hospital applications and medical data management amongst others.

06:17 EDT Glencore subpoenaed by DOJ for documents releated to compliance with FCPA - Glencore Ltd, a subsidiary of Glencore plc, has received a subpoena dated July 2 from the US Department of Justice to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and United States money laundering statutes. The requested documents relate to the Glencore Group's business in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to present. Glencore is reviewing the subpoena and will provide further information in due course as appropriate.

06:10 EDT eBay to offer thousands of exclusive deals on July 17th - Beginning the week of July 16th, head to eBay for exclusive deals- no membership required. The company said, "Shop thousands of brand new, in-demand items across categories like electronics, home, fashion, and sporting goods at up to 80% off their regular retail price. And, with free shipping on eBay Deals items, you can get all the things that'll fuel all your passions. From outdoor gear to cooking to smart home and entertaining, eBay will have exclusive deals and discounts on the biggest brands like Apple, Samsung, Adidas, Dyson, KitchenAid, and hundreds more. eBay recently announced its new Best Price Guarantee. If you find an item for less on an eligible competitor's website, eBay will give you 110% of the price difference for all eligible Deals and Top Products, including popular, best-selling items across thousands of categories. And with no blackout dates this summer, you'll know you're getting the best price on the things you love. Stay tuned to eBay for more about all the deals and brands you can score starting the week of July 16. And, if you simply can't wait to shop, visit eBay.com/deals today for a wide selection of deals and discounts every day - all with free shipping and no membership required."

06:07 EDT Grand Canyon consummated asset purchase agreement with Gazelle University - Grand Canyon Education disclosed yesterday morning that it consummated an asset purchase agreement with Gazelle University, an Arizona nonprofit corporation. Prior to the consummation of the transactions, the company operated Grand Canyon University regionally accredited by The Higher Learning Commission, that offers over 225 graduate and undergraduate degree programs, emphases and certificates across nine colleges both online and on ground at its over 275 acre campus in Phoenix, Arizona. Upon the closing of the transaction, Gazelle University changed its name to Grand Canyon University. The base purchase price that Grand Canyon University paid for the transferred assets at closing was $853.1M.

06:06 EDT Aslan submits clinical trial authorisation application for ASLAN004 studies - ASLAN Pharmaceuticals announced the submission of a clinical trial authorisation application with the Singapore Health Sciences Authority to initiate a phase 1 trial of ASLAN004. The single ascending dose study will recruit healthy volunteers and the multiple ascending dose study will recruit patients with atopic dermatitis. ASLAN004 is a fully human monoclonal antibody that targets the IL-13 receptor alpha1 subunit and potently inhibits interleukin 4 and interleukin 13. IL-4 and IL-13 are central to triggering symptoms of allergy in atopic dermatitis, such as redness and itching of the skin. By targeting IL-13Ralpha1, ASLAN004 has the potential to offer both a lower dose and dosing frequency than currently available treatments for atopic dermatitis which target the same pathways. ASLAN004's selective binding may also offer a more favourable side effect profile.

06:04 EDT Insulet says Omnipod selected as preferred insulin pump in British Columbia - Insulet Corporation announced the Omnipod System has been selected as the preferred insulin pump for individuals with diabetes in the province of British Columbia, Canada, under the expanded British Columbia PharmaCare insulin pump program. Effective today, an individual who requests an initial or replacement insulin pump and meets the eligibility criteria will receive coverage for the Omnipod System. As the only tubeless insulin pump sold in Canada, the Omnipod System delivers continuous insulin for up to three days without the use of tubes, eliminates the burden of multiple daily injections, and is now available for all age groups in British Columbia. It is estimated there are 18,300 people living with Type 1 diabetes in British Columbia, according to Diabetes Canada, with approximately 25% of this population using insulin pump therapy. Additional details on the British Columbia PharmaCare insulin pump program can be found here.

05:55 EDT Teekay announces Brookfield has acquired controlling interest in GP - Teekay Offshore Partners (TOO) announced that Brookfield Business Partners (BBU), together with its institutional partners, has exercised its option to acquire an additional 2% ownership interest in Teekay Offshore's general partner from Teekay Corporation. As a result, Brookfield now holds a 51% interest in Teekay Offshore GP and has the right to appoint a majority of the members of its board of directors. Teekay Corporation will continue to have the right to appoint two members of the Board so long as it owns at least 10% of the Partnership's outstanding common units. Brookfield has informed the Partnership that no changes to the Board composition are planned at this time. Brookfield's exercise of its 2% option represents a change of control event with respect to the Partnership's 6.00% Senior Notes due 2019, which will entitle each holder of such notes to require the Partnership to repurchase any or all of the notes held by such holder for a price equal to 101% of the principal amount of such repurchased notes plus any accrued and unpaid interest, and the Partnership's Norwegian Kroner-denominated notes due 2019, which will entitle each holder of such notes to require the Partnership to repurchase the notes held by such holder for a price equal to 100% of the principal amount of such repurchased notes plus accrued and unpaid interest. The Partnership will deliver the requisite notices to the holders of the Partnership's 6.00% Senior Notes due 2019 and Norwegian Kroner-denominated senior notes due 2019 regarding the change of control pursuant to their indenture and bond agreement, respectively.

05:49 EDT Microsoft, RADWIN announce strategic partnership for TV White Space solutions - RADWIN and Microsoft announced a new strategic partnership to address the rural broadband gap. RADWIN, a world leader in delivering high-performance broadband wireless access solutions, will be developing and introducing to the market TV White Space solutions to deliver broadband internet to unserved communities. Focused on introducing innovative technologies into the TV White Space market, the partnership will expand the TV White Space ecosystem, making broadband more affordable and accessible for customers in the rural U.S. and around the world. This partnership is part of Microsoft's Airband Initiative, which aims to expand broadband coverage using a mixture of technologies including TV White Space.

05:44 EDT Catalent agrees to acquire Juniper Pharmaceuticals for $11.50 per share - Catalent (CTLT) announced that it has agreed to acquire Juniper Pharmaceuticals (JNP), including its Nottingham, U.K.-based Juniper Pharma Services division. When combined with Catalent's existing industry-leading drug development and manufacturing capabilities in the U.S. and Europe, the acquisition of Juniper will expand and strengthen Catalent's offerings in formulation development, bioavailability solutions and clinical-scale oral dose manufacturing, and will complement its integrated global clinical and commercial supply network. Juniper's nearly 150 employees have deep scientific expertise in formulation development, and supply, and will augment Catalent's current portfolio of solid-state screening, preformulation, formulation, analytical, and bioavailability enhancement solutions, including development of spray-dried dispersions, with integrated development, analytical, and clinical manufacturing co-located in its Nottingham facility. Catalent will continue to support Juniper's CRINONE franchise marketed by Merck KGaA outside of the U.S. Juniper's Intravaginal Ring development pipeline was previously licensed to Dare Bioscience, and Catalent will not be involved in the further development of this program. The acquisition of Juniper is subject to certain customary closing conditions, including that a majority of Juniper's shares are tendered into the offer, and is expected to close in the first quarter of Catalent's 2019 fiscal year, which began on July 1, 2018. Like Catalent, Juniper has expertise in solid-state and preclinical formulation screening for lead-candidate selection, phase-appropriate dose-form development, and superior technologies for challenging molecules, which will strengthen and expand on Catalent's OptiForm Solution Suite platform. Juniper provides bioavailability enhancement solutions for the development of poorly soluble compounds, including nano-milling, spray drying, hot-melt extrusion, lipid-based drug delivery, and cGMP clinical manufacturing, including specialized facilities and controls for potent and controlled substances. Under its acquisition agreement with Juniper, a subsidiary of Catalent will promptly commence a tender offer to purchase all of Juniper's shares for a price of $11.50, net to the seller in cash. Following the conclusion of the tender offer, Catalent intends to complete the transaction by acquiring the remainder of the Juniper shares at the same price through a merger with a newly formed wholly owned subsidiary of Catalent.