Stockwinners Market Radar for July 05, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:42 EDT Eisai and Biogen announce positive results of the final analysis for BAN2401 - Eisai (ESALY) and Biogen (BIIB) announced positive topline results from the Phase II study with BAN2401, an anti-amyloid beta protofibril antibody, in 856 patients with early Alzheimer's disease. The study achieved statistical significance on key predefined endpoints evaluating efficacy at 18 months on slowing progression in Alzheimer's Disease Composite Score and on reduction of amyloid accumulated in the brain as measured using amyloid-PET. Topline results of the final analysis of the study demonstrated a statistically significant slowing of disease progression on the key clinical endpoint after 18 months of treatment in patients receiving the highest treatment dose as compared to placebo. Results of amyloid PET analyses at 18 months, including reduction in amyloid PET standardized uptake value ratio and amyloid PET image visual read of subjects converting from positive to negative for amyloid in the brain, were also statistically significant at this dose. Dose-dependent changes from baseline were observed across the PET results and the clinical endpoints. Further, the highest treatment dose of BAN2401 began to show statistically significant clinical benefit as measured by ADCOMS as early as 6 months including at 12 months. BAN2401 demonstrated an acceptable tolerability profile through 18 months of study drug administration. The most common treatment emergent adverse events were infusion-related reactions and Amyloid Related Imaging Abnormalities. Infusion related reactions were mostly mild to moderate in severity. Incidence of ARIA-E was not more than 10% in any of the treatment arms, and less than 15% in patients with APOE4 at the highest dose per the study protocol safety and reporting procedures.

18:58 EDT GOL Linhas sees Q2 operating margin of 1.0%-1.5% - GOL Linhas reduced its domestic supply by 11% compared to the March quarter, as Q2 is low season in the Brazilian domestic passenger air transportation market. Expects Q2 operating margin of 1.0%-1.5%, flat in relation to the year-ago quarter margin of 1.0%. Operating cash flow in the June quarter is expected to be R$500M-R$550M. Q2 passenger unit revenue or PRASK is expected to be up 7.5%-8.0% year over year. Expects Q2 unit revenue (RASK) to increase 6.0%-6.5%. Non-fuel unit costs, or CASK ex-fuel, are expected to reduce by approximately 2.0% in relation to 2Q17. Expects financial leverage, as measured by the Net Debt/LTM EBITDA ratio, to be approximately 2.9x at the end of Q2. Total liquidity at the end of the quarter is expected to be at R$3.0B, versus R$3.1B at the end of the previous quarter.

18:02 EDT Popular completes regulatory clearance for Wells Fargo Auto Finance acquisition - Popular (BPOP) announced that the regulatory clearance process for its previously announced agreement to acquire certain assets and liabilities related to Wells Fargo's (WFC) auto finance business in Puerto Rico has been completed. The applicable waiting period relating to the review of the transaction by the board of governors of the Federal Reserve System expired on July 4. The parties have agreed to close the transaction on August 1, subject to the satisfaction or waiver of customary closing conditions.

17:51 EDT CPI Aerostructures sues Air Industries for breach of acquisition agreement - CPI Aerostructures has filed a complaint in the Supreme Court of the State of New York, seeking specific performance and damages against Air Industries Group. The complaint relates to a previously announced agreement pursuant to which Air Industries agreed to sell its Welding Metallurgy subsidiary to CPI Aero. The complaint, among other things, alleges that Air Industries willfully breached its contractual obligation to provide financial information required to fulfill key conditions for closing under the acquisition agreement. The complaint indicates that the information Air Industries has supplied to CPI Aero is inadequate to support a proper financial statement audit of WMI and that Air Industries has otherwise refused to provide the required information. Nonetheless, and notwithstanding CPI Aero's objection, Air Industries sent a termination notice. CPI Aero believes the termination notice is ineffective because the failure of Air Industries to produce financial information is a breach of the agreement and the reason a closing cannot occur.

17:44 EDT Provident Financial: impaired loan not indication of overall loan portfolio - In its earnings release and Quarterly Report on Form 10-Q for the quarter ended March 31, Provident Financial Services disclosed that it had established a specific reserve of $2.M with respect to a $15.4M credit to a commercial borrower that filed a Chapter 7 petition in bankruptcy on March 27, 2018 for a liquidation of assets. The company also cautioned that additional reserves for this credit could be required in the future. Based on further information obtained from the bankruptcy proceeding during the second quarter, the company believes that the extent and value of inventory securing repayment of the credit, as well as the accounts receivable pledged to the company as collateral were overstated by the borrower. Accordingly, the company expects that an additional reserve for the remaining balance of this credit will be required, and that its net income for the quarter ended June 30, will be reduced by an amount up to $9.3M, after tax, or up to $0.14 per diluted share. The company continues to work with the U.S. Bankruptcy Trustee to sell by auction the borrower's inventory and equipment, and to collect those accounts receivable which are determined to be bona fide. Further, the company has obtained a judgment against the two individual guarantors of this credit. However, the company is unable to quantify the extent of any recoveries that it may realize as a secured lender in this bankruptcy liquidation, or as a result of its collection actions on the judgment obtained against the guarantors. The company believes that this impaired loan is not indicative of a deterioration of credit in its overall loan portfolio. The company's credit quality metrics remain strong.

17:34 EDT Daseke's Big Freight Systems merges with Kelsey Trail Trucking - Big Freight Systems, a Daseke company, announced a merger with Kelsey Trail Trucking. Combined, the two operations operate nearly 750 tractors and trailers. Kelsey Trail will become a division of Big Freight and keep operations intact, with locations in Saskatoon, Saskatchewan, and Innisfil, Ontario. Big Freight is headquartered in Steinbach, Manitoba.

17:31 EDT Regulus falls over 15% following resumption of afterhours trade

17:30 EDT Regulus trading resumes

17:21 EDT MabVax Therapeutics to be delisted from Nasdaq - MabVax Therapeutics announced that as a result of the company's decision not to submit a plan to regain compliance with Nasdaq's filing requirement, which a decision was announced by the company in a press release on July 2, and, on that same date, the listing qualifications staff of the Nasdaq Stock Market notified the company of its determination to delist the company's securities from Nasdaq. The staff indicated that the determination was based upon the company's non-compliance with the filing requirement as well as the company's non-compliance with the $2.5M stockholders' equity requirement for continued listing on the Nasdaq Capital Market. The company does not intend to appeal the staff's decision and, as a result, trading of the company's common stock will be suspended on Nasdaq at the open of business on July 11. Nasdaq will thereafter take action to formally remove the company's securities from listing and registration on Nasdaq via the filing of a Form 25 with the Securities and Exchange Commission.

17:17 EDT Kirkland Lake Gold reports high-grade intersections at Macassa - Kirkland Lake Gold reported new high-grade drill intersections from underground exploration drilling within the SMC at the Macassa Mine, Kirkland Lake, Ontario. The new results involve 20 holes for 7,560 m of underground drilling from the east exploration drift on the 5300-foot level. Underground drilling from the 5300 Level will continue throughout the remainder of 2018. The new high-grade intersections are situated within the 259 m eastern extension of the SMC, first reported in June 2017. The new intersections result from a continuation of the 2018 infill drilling program, with previous results reported in April 2018. The results will support further Mineral Resource expansion, as all but two of the intersections are located outside of the existing Mineral Resource blocks. Of particular significance, the new results include high-grade intersections within Footwall veins 78 m to the east of existing Mineral Resources within the SMC. In addition, the results have identified a high-potential area within the eastern extension of the SMC, which includes high grades and true widths well in excess of those normally seen in the area. The intersections reported today are located approximately 560 m south-southeast of the location for the new #4 Shaft, with Phase 1 targeted for completion early in 2022. By comparison, these intersections are approximately 2.1 km east of the current production shaft.

17:14 EDT Perry Ellis names Jorge Narino as CFO - On July 3, 2018, Jorge Narino, who has served as the interim Chief Financial Officer of Perry Ellis International, Inc.since November 2017, became the Chief Financial Officer of the company.

17:03 EDT Regulus cuts workforce by 60%, pauses Phase 1 study for RGLS4326 - Regulus Therapeutics announced a strategic update and corporate restructuring. With the goal of extending its cash runway, Regulus has taken the following steps: recruitment activities for the RG-012 clinical program in Alport syndrome have been paused while discussions with Sanofi to potentially restructure the partnership are ongoing; preclinical research efforts will be focused on its Hepatitis B virus programs; and a workforce reduction of approximately 60% is being implemented. These actions are anticipated to yield over $20M of annualized savings, which are intended to extend the company's cash runway into mid-2019. The company also announced that it has voluntarily paused the Phase 1 multiple ascending dose, or MAD, study for RGLS4326 due to unexpected observations in its 27-week mouse chronic toxicity study, which was designed to support the Phase 2 proof-of-concept study in Autosomal Dominant Polycystic Kidney Disease previously planned to start in mid-2019. The observations in the mouse chronic toxicity study were unexpected, given the favorable safety profile of RGLS4326 in previous non-GLP and GLP toxicity studies at the same or similar doses supporting the Investigational New Drug application and Phase 1 program. In consultation with FDA, the Company has initiated investigative studies and is planning a new 27-week mouse chronic toxicity study with certain changes that are believed to address the unexpected findings. The 40-week non-human primate chronic toxicity study continues with no significant findings to date. Importantly, RGLS4326 has been generally safe and well-tolerated in the Phase 1 single ascending dose and MAD studies to date.

16:55 EDT Regulus trading halted, news pending

16:35 EDT Civeo awarded four contracts for locations along Coastal GasLink pipeline - Civeo announced that it has been awarded contracts to supply accommodations for four locations along the Coastal GasLink pipeline project in British Colombia, Canada. The Coastal GasLink pipeline project is an approximately 670-kilometre pipeline from the Dawson Creek area to the west coast of B.C. The proposed pipeline will transport natural gas to the proposed LNG Canada facility near Kitimat. These contracts are subject to a positive final investment decision from the LNG Canada joint venture; the timing of the FID is expected later in 2018. The accommodation facilities are collectively expected to reach total peak room count of over 2,000, and revenue for the full-term of the contract is expected to be approximately C$100M over 2019-2021. Civeo will partner with a First Nation for each facility through its network of leading First Nation and community partnerships. Civeo expects to deploy approximately C$10M in capital, primarily in 2019, across all four facilities, which will include maintenance to existing assets, new site service equipment and a limited number of new modular assets.

16:32 EDT Wells Fargo sells majority stake in The Rock Creek Group - Wells Fargo Asset Management announced that Wells Fargo has sold its majority stake in The Rock Creek Group to the company's founder, Afsaneh Beschloss, and the RockCreek team. This transaction is expected to close by the end of August. The decision was made jointly by senior management at Wells Fargo and RockCreek, and reflects their shared view that the transaction supports each firm's strategic direction and that clients of RockCreek will be best served by a founder- and management-team-led ownership structure. Rock Creek Group is a registered investment advisor located in Washington, D.C. and New York. RockCreek has been an affiliate of Wells Fargo Funds Management since December 2012, when WFAM acquired a minority ownership stake of 35%. In April 2014, WFAM increased its equity ownership to a majority stake of 65%. Additional transaction details were not provided.

16:27 EDT American Railcar unit ARI entered into purchase/sale pact with Icahn's ACF - On June 28, American Railcar Industries' wholly owned subsidiary ARI Leasing, entered into a Railcar Purchase and Sale Agreement with ACF Industries, a company controlled by Mr. Carl Icahn, ARI's principal beneficial stockholder through Icahn Enterprises. The Railcar Purchase and Sale Agreement was unanimously approved by the independent directors of ARI's audit committee. Subject to the terms and conditions of the Railcar Purchase and Sale Agreement, ARI Leasing has agreed to purchase from ACF certain tank railcars to be manufactured at ACF's Milton, Pennsylvania facility. The purchase price for the Railcars will be calculated based on ACF's manufacturing costs with respect to the Railcars plus a certain margin and is subject to certain adjustments, as provided in the Railcar Purchase and Sale Agreement. ACF's manufacturing costs include ACF's standard costs for materials, parts, labor, and overhead. Certain of ACF's start-up expenses related to the manufacture of the Railcars will also be included in the purchase price for the Railcars.The Railcar Purchase and Sale Agreement prohibits ACF from engaging in the manufacturing or assembly of any railcars other than the Railcars or any other activity that may affect the timely delivery of the Railcars under the Railcar Purchase and Sale Agreement.

16:11 EDT Celgene settles Revlimid patent litigation with Accord Healthcare - Celgene disclosed in a regulatory filing that the company has settled its litigations with Accord Healthcare relating to patents for Revlimid. In June 2017, Accord filed lawsuits in the United Kingdom against Celgene seeking to revoke Celgene's U.K. patents protecting Revlimid, including the Supplementary Protection Certificate associated with Celgene's U.K. composition of matter patent, which expires in June 2022. In settlement of the litigations, other terms of which are confidential, Accord has agreed to vacate its challenges to Celgene's patents and Celgene has granted Accord the ability to market a generic lenalidomide product for certain conditions prior to expiry of Celgene's patent and SPC rights in the U.K. beginning on January 18, 2022, and in various other European countries where Celgene's SPC is in force beginning on February 18, 2022.

16:05 EDT Northrop Grumman says 'does not tolerate hatred,' investigating reports - Northrop Grumman announced that it was recently made aware of alleged employee actions that are counter to its values. "Northrop Grumman is absolutely committed to the highest levels of ethics and integrity in all that we do, and ensuring that our workplace reflects our values of diversity and inclusion. We do not tolerate hatred or illegal conduct and we condemn racist activities in any shape or form. We are taking immediate action to look into the very serious issues raised by these reports," the company stated.

16:04 EDT Par Investment Partners reports 5.8% passive stake in Herc Holdings

15:38 EDT Intuitive Surgical announces FDA clearance for 60mm stapler - Intuitive Surgical announced that the U.S. Food and Drug Administration granted clearance for the company's fully wristed, 60mm stapler. SureForm 60, a single-patient use 60mm stapler, "offers 120 degrees of fully wristed articulation - an industry first," the company stated. The product expands and evolves Intuitive's da Vinci stapling portfolio, which includes 30 and 45mm stapler instruments, Intuitive added.

13:56 EDT IBM, Italian bank Banca Carige launch $500M U.S. joint venture Dock - IBM and Italian bank, Banca Carige, have officially launched Dock, a $500M U.S. joint venture, to bring innovative technologies including AI, big data, analytics and cognitive tools to improve the competitiveness of Carige's more than 500 branches and over 1 million clients. Dock currently employs 173 people, 133 of whom come from Carige and 40 from IBM.

13:02 EDT NeuroMetrix announces issuance of new U.S. patent for DPNCheck technology - NeuroMetrix announced that the U.S. Patent and Trademark Office has issued U.S. Patent No. 10,004,445. The patent covers novel technology that enhances DPNCheck device performance by detecting and rejecting erroneous test conditions during nerve conduction studies. This patent further strengthens the position of the company in offering easy-to-use, automated and accurate point-of-care neuropathy testing.

12:28 EDT Credit Suisse's Hong Kong unit to pay $47M penalty to settle corruption probe - Credit Suisse (Hong Kong) Limited, a Hong Kong-based subsidiary of Credit Suisse Group has reached a resolution with the Department of Justice and agreed to pay a $47M criminal penalty for its role in a scheme to corruptly win banking business by awarding employment to friends and family of Chinese officials. According to CSHK's admissions, between 2007 and 2013, several senior CSHK managers in the Asia Pacific region engaged in a practice to hire, promote and retain candidates referred by or related to government officials and executives of clients that were state-owned entities. As part of the agreement, CSHK and its parent company Credit Suisse AG also agreed to continue to cooperate with the Department in any ongoing investigations and prosecutions relating to the conduct, to enhance their compliance programs and to report to the Department on the implementation of their enhanced compliance programs. The Department reached this resolution based on a number of factors, including that CSHK did not voluntarily and timely disclose the conduct at issue. CSHK received partial credit for its and its parent company's cooperation with the criminal investigation, including making foreign-based employees available for interviews in the United States and producing documents to the government from foreign countries in ways that did not implicate foreign data privacy laws. However, CSHK did not receive additional cooperation credit because its cooperation was reactive and not proactive. Additionally, CSHK did not receive full credit for remediation because it failed to sufficiently discipline employees who were involved in the misconduct. Based on these considerations, the company received a non-prosecution agreement and an aggregate discount of 15 percent off the bottom of the U.S. Sentencing Guidelines fine range. In related proceedings, Credit Suisse Group AG also settled with the U.S. SEC. Under the terms of its resolution with the SEC, Credit Suisse Group AG agreed to pay a total of $24,989,843 in disgorgement of profits and $4,833,961 in prejudgment interest.

12:22 EDT Tutor Perini confirms award of $410M contract for Purple Line Extension project - Tutor Perini Corporation announced that the Board of Directors of the Los Angeles County Metropolitan Transportation Authority has approved the award of a $410M contract to the Frontier-Kemper/Tutor Perini Joint Venture for the Purple Line Extension Section 3 Tunnels Project. The project involves the design and construction of twin bored tunnels for future Purple Line subway service spanning approximately 2.6 miles between Century City and the VA Hospital in Westwood. The subway extension will provide a high-capacity, high-speed, dependable transit alternative for those traveling to and from Los Angeles' Westside. Work is expected to commence in the next 90 days with substantial completion anticipated in the 4Q22. The contract value will be included in the company's 2Q18 backlog.

12:00 EDT SMIC falls -6.4% - SMIC is down -6.4%, or -42c to $6.04.

12:00 EDT AVX rises 7.7% - AVX is up 7.7%, or $1.25 to $17.57.

12:00 EDT Seadrill rises 20.6% - Seadrill is up 20.6%, or $3.82 to $22.32.

11:22 EDT Before the Move: Watch Nordstrom into first investor day - Nordstrom will hold its first investor day on July 10. Deutsche Bank analyst Paul Trussell believes the company will lay out the path back to expansion of its earnings before interest and taxes, or EBIT, with a further moderation in spending growth. Earlier this week, his peer at Cowen had downgraded the stock to a neutral-equivalent ahead of the event. PATH TO EBIT MARGIN GROWTH: In a research note to investors, Deutsche Bank's Trussell said he believes Nordstrom will lay out the path back to EBIT expansion with a further moderation in spending growth, and set longer-term comp and profitability targets at the company's first investor day on July 10. The analyst also noted that he is heading into the event with optimism despite "much investor skepticism" that persists. Trussell expects Nordstrom's capital return story to accelerate as spending is projected to decelerate through fiscal 2022 and he sees a new share buyback program as likely. Additionally, the analyst told investors he sees opportunity for Nordstrom's multiple to recover as the company moves past off-price merchandising execution issues and starts to deliver against its strategic plan. Trussell reiterated a Buy rating and $55 price target on Nordstrom shares. COWEN MOVING TO THE SIDELINES: Earlier this week, Cowen analyst Oliver Chen downgraded Nordstrom to Market Perform from Outperform, citing the stock's current valuation after its recent run, his view of a likely lack of near-term upside to full-line sales and store traffic, and the need for improvements at the Rack division. The analyst argued that margins could be at risk if comparable store sales underperform expectations and/or if the Rack division takes longer than expected to fix, and the ongoing need to rationalize the full-price store base could keep the valuation multiple back and below historical averages. Nonetheless, the analyst acknowledged that Nordstrom demonstrates best in-class digital capabilities with industry best 29% digital penetration as the retailer leverages advanced technology and social and digital marketing. He said the upcoming analyst day on July 10 could also act as a stock catalyst, especially if management articulates a long-term plan to execute against investor's and his top concerns as well as increase its capital returns. Chen lowered his price target on the shares to $51 from $56. PRICE ACTION: In morning trading, shares of Nordstrom have gained over 2% to $52.59. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

11:18 EDT Musk accuses BI's Lopez of publishing 'several' false articles about Tesla - Tesla CEO Elon Musk tweeted, "[Business Insider's senior finance correspondent Linette Lopez] has published several false articles about Tesla, including a doozy where she claimed Tesla scrapped more batteries than our total S,X &3 production number, which is physically impossible." In a separate tweet, Musk accused Lopez of "serving as an inside trading source for one of Tesla's biggest short-sellers... An ex-Tesla employee just went on record formally claiming you bribed him & he sent you valuable Tesla IP in exchange." Reference Link

11:04 EDT Pennsylvania American Water to acquire municipal water, wasterwater system - Pennsylvania American Water, a subsidiary of American Water, announced that it has signed an agreement to acquire the water and wastewater systems of Turbotville Borough in Northumberland County. The purchase price of approximately $1M includes acquiring the water assets of the Municipal Authority of the Borough of Turbotville and wastewater assets from the Borough of Turbotville. The water system serves approximately 320 customers in the Borough and a portion of Lewis Township, while the wastewater system provides service to approximately 290 customers in Turbotville. Pennsylvania American Water and Borough officials will seek approval of the acquisition from the Pennsylvania Public Utility Commission and other necessary approvals from the Pennsylvania Department of Environmental Protection. The company expects to close the transaction once regulatory approvals are obtained. Under the purchase agreement, the company plans to adopt the existing water rates of the municipal authority, while the Borough agrees to enact Pennsylvania American Water's Rate Zone 1 wastewater rates when the transaction closes. The company's rates are regulated by the PUC and future rate changes would have to be reviewed and approved by the PUC.

10:52 EDT Perry Ellis falls after committee plans to recommend lower Feldenkreis deal - Shares of Perry Ellis (PERY) are falling after its special board committee announced its intention to recommend shareholders vote for the Feldenkreis transaction despite a higher competing offer from Randa Accessories. COMMITTEE TO RECOMMEND FELDENKREIS DEAL: On Thursday, the board's special committee, which is composed of independent directors, reaffirmed its intention to recommend that all shareholders vote for the Feldenkreis transaction. The company previously announced on June 16 that the board unanimously approved a $437M transaction to become a private company through an acquisition led by former non-executive chairman George Feldenkreis. Under the terms of the agreement, shareholders will receive $27.50 per share in cash upon closing. The purchase price represents a premium of approximately 21.6% to Perry Ellis' unaffected closing stock price on February 5. The committee noted that Randa's July 1 proposal to acquire the company for $28.00 per share in cash was not solicited and is "substantially similar" to a non-binding $27.75 per share proposal made by Randa during the committee's strategic review process. The committee unanimously determined that the Randa proposal does not satisfy the requirements in the Feldenkreis agreement for granting due diligence access or commencing negotiations with respect to a competing takeover proposal. The committee continues to unanimously believe that the Feldenkreis agreement is in the best interest of all shareholders. The transaction is expected to close in the second half of 2018. Randa's offer of $28 per share values the company at $444M. CONSIDERATIONS: The special committee said it considered, in relation to a 1.8% potential price increase from Randa's unsolicited proposal, among other things, that the proposal is highly-conditional, non-binding and "insufficient" in terms of value and certainty of the provided debt financing commitments, as well as the lack of evidence of sufficient cash equity on hand, as well as the inclusion of a 3% fee payable by the company to Randa if shareholders vote down the transaction, compared to no such penalty in the Feldenkreis merger. The committee said, "Based on the totality of the circumstances considered in comparison to the potential for a slight price improvement, the special committee concluded that re-engaging with Randa at the price offered was not in the best interest of shareholders." WHAT'S NOTABLE: On Monday, Randa announced the offer to buy Perry Ellis for $28.00 per share with CEO Jeffrey Spiegel saying, "Randa believes we are the right acquiror of Perry Ellis and that our compelling proposal provides shareholders with a superior alternative to the previously agreed insider transaction... With our long, successful history as a licensee...we believe we can continue and grow the relationships with Perry Ellis' inbound licensors for the benefit of all stakeholders in those relationships." PRICE ACTION: Perry Ellis has dropped 2.7% to $28.50 in morning trading.

10:38 EDT Analyst ups Facebook target as Instagram becomes 'absolute monster' - BTIG analyst Richard Greenfield raised his price target on Facebook (FB) to $275 as he believes Instagram is enabling it to continue to grow mobile time spent. Despite all the noise around Facebook, Instagram has become "an absolute monster" in terms of user growth and engagement, he argued in a research note to investors. INSTAGRAM HAS BECOME 'MONSTER': BTIG analyst Richard Greenfield raised his price target on Facebook to $275 from $175, saying that while regulators and the press have had a field day attacking Facebook's behavior, consumers simply could not care less. Facebook Watch content is a draw for younger consumers and Instagram has become "an absolute monster" in terms of user growth and engagement, with Instagram now over 1B users per day and Instagram stories over 400M, Greenfield said. The analyst added that he finds it "stunning" that Instagram Stories in just two years since launch has become twice as large as Snapchat (SNAP), with monetization still in the early innings. Meanwhile, IGTV launched last month and appears destined to compete with YouTube (GOOG; GOOGL), Snapchat Discover and group video chat to increase the use of direct messaging, pointing out that he was "really impressed" as within 24 hours of launch his IGTV feed was filled with more content than he could possibly consume. The analyst believes it is also worth noting that Facebook, since its earliest days as a public company, has talked about the goal of ads becoming content, which has actually happened on Instagram. The ads are so good, in fact, that Instagram is quickly becoming the most powerful and valuable mall in the world where you not only browse, but can buy anything you see, Greenfield said. The analyst believes that ads that are so targeted they feel like content drives an immediate purchase decision from a consumer, which is the marketing/advertising "holy grail" that should enable substantial revenue growth for Facebook for years to come globally. With Facebook a "must-have utility" for staying connected to the entire world and Instagram becoming "the world's most powerful cure for boredom/shopping mall" across all demographics, Greenfield thinks the advertising revenue growth trajectory for Facebook remains exciting, even as new products such as Facebook Watch have evolved slower than he would have expected and messaging monetization is still nascent to non-existent. The analyst reiterated a Buy rating on Facebook's shares. PRICE ACTION: In morning trading, shares of Facebook have gained about 1% to $194.25.

10:15 EDT PNC Financial raises dividend to 95c from 75c per share - The board of directors of PNC Financial declared a quarterly cash dividend on the common stock of 95c per share, an increase of 20c per share, or 27%, from the second quarter dividend of 75c per share. The dividend, with a payment date of Aug. 5, will be payable the next business day to shareholders of record at the close of business July 17. "The significant increase to our dividend is a result of PNC's consistent performance, strong capital levels and our board's confidence in our business model as a Main Street bank," said PNC chairman, president and CEO William Demchak.

10:06 EDT Canopy Growth plans to create 136 jobs in New Brunswick over the next six years - Canopy Growth Corporation and the Government of New Brunswick are pleased to announce that with the support of Opportunities New Brunswick, the company will create 136 local jobs in the booming cannabis sector over the next six-years. The jobs come as part of a $40M investment by Canopy Growth into the company's Fredericton-based production facility that will ensure the supply needs of New Brunswickers and Canadians are met when legalization comes into effect on Oct. 17, 2018. Operating under the Company's flagship Tweed brand, the facility will support the company's global operations with high quality, large scale cannabis production capabilities to serve medical and adult-use customers. To staff its new facility Canopy Growth will be seeking to fill a diverse array of roles, including lab supervisors, technologists, growers, post-harvest crews, quality assurance experts, as well as maintenance crews, shipping and on-site retail staff. To support the creation of these jobs, Canopy Growth is eligible, subject to certain conditions, for an investment of up to $1.3M from Opportunities NB, a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs in the province. It is estimated by the ONB that creating up to 136 new jobs would produce provincial income tax revenue of $6.5M and contribute $61.2M in direct GDP for the province over a six-year period. ONB is projecting the creation of up to 3,000 new cannabis jobs in the province by the end of 2022.

10:00 EDT Cheetah Mobile falls -5.5% - Cheetah Mobile is down -5.5%, or -55c to $9.53.

10:00 EDT SMIC falls -6.5% - SMIC is down -6.5%, or -42c to $6.04.

10:00 EDT Centrais Electricas rises 12.5% - Centrais Electricas is up 12.5%, or 44c to $3.97.

09:47 EDT SMIC falls -4.5% - SMIC is down -4.5%, or -29c to $6.17.

09:47 EDT ProShares Trust Ultra VIX Short Term Futures ETF falls -4.3% - ProShares Trust Ultra VIX Short Term Futures ETF is down -4.3%, or -54c to $11.98.

09:47 EDT Seadrill rises 7.3% - Seadrill is up 7.3%, or $1.34 to $19.84.

09:38 EDT Ecopetrol announces new oil finding at Cundinamarca - Ecopetrol reports that Bufalo-1 well confirmed the presence of oil in the Valle Medio del Magdalena, located near the town of Guaduas, Department of Cundinamarca. The finding recorded a depth of 1,153 meters, in the Middle Magdalena Valley basin, where the presence of dry gas and light crudes was evident in the Grupo Honda. Bufalo-1 is operated by Ecopetrol, who holds a 51% stake, and its partner CPVEN E&P Corp, who holds a 49% interest. The well is the first discovery in the VMM32 Exploration Contract.

09:08 EDT Gazit-Globe acquires retail asset in Brooklyn for $47.3M - Gazit-Globe's wholly owned subsidiary Gazit Horizons has acquired a 60,000 square foot retail condominium complex in the Williamsburg section of Brooklyn for $47.3M or $790 per square foot. The acquisition is Gazit's second in Brooklyn in the last two months, and third overall in New York City. The asset in Williamsburg is the retail component of The Edge, a master-planned luxury complex that includes over 900 residential units, a 500 space parking garage, 1.75 acres of open space, and a New York City ferry terminal transporting commuters and visitors to Wall Street and Midtown Manhattan. The 60,000 square foot Edge Retail complex is anchored by a CVS Pharmacy and Brooklyn Harvest market and is 81% leased.

09:06 EDT LiqTech extends LOI with margine scrubber manufacturer - LiqTech International announced that the company has extended the Letter of Intent previously announced on April 11. The Letter of Intent is with one of the world's largest marine scrubber manufacturers, and the extension provides that the parties intend to enter into a definitive partnership agreement no later than October 1.

09:03 EDT TiVo names Raghu Rau interim CEO - TiVo announced that Raghu Rau, a member of TiVo's board, has been named interim president and CEO, effective immediately. The appointment follows Enrique Rodriguez's personal decision to resign from his role as TiVo's president, CEO and a member of the board to assume a position as CTO at Liberty Global (LBTYA) in Europe, one of TiVo's long-time global customers. Rodriguez will remain at TiVo in an advisory role to ensure a smooth transition. Rau will continue to serve on the board. The board has commenced a comprehensive search process to identify and evaluate internal and external candidates to serve as a permanent CEO.

09:01 EDT LiqTech says Mark Vernon to succeed Aldo Petersen as chairman - LiqTech International announces the appointment of Mark E. Vernon as Chairman of the Board of Directors, effective today, succeeding Aldo Petersen who is retiring from the Board. Mr. Petersen has served as Chairman since August 2011. Vernon joined the company's Board of Directors in May 2013 and has been serving as the Chairman of the Compensation, Nominating and Governance Committees, as well as a member of the Audit Committee. The Board is confident that Vernon possesses the skills and experience to lead the company's continued progression and development. The company has begun a search for a new independent director to replace Petersen.

08:39 EDT Owens Realty Mortgage: Hovde Group's interests 'not aligned' with all investors - Owens Realty Mortgage announced that it has sent a letter to its stockholders: "If you support directors that continue to execute our strategic plan to return capital to stockholders through consistent and growing dividends, responsible stock repurchases and deploying capital to drive future dividend yield and equity growth - vote for Bryan Draper and James Kessler on the WHITE proxy card today. Do not be fooled by the Hovde Group's use of financial data that goes back 10+ years. The Hovde Group appears to be using this timeframe to cherry-pick financial results from an industry-wide financial crisis to misleadingly distract stockholders from our outstanding returns since our stock has been able to appreciate on a public exchange. It is a fact that since the Company's public listing as a REIT, we have delivered an 87% total stockholder return. Over the same period, the median of the Company's peers fell by 6%. Do not be misdirected by the Hovde Group's dividend yield calculations. The Hovde Group's calculation of dividend yield has an inverse relationship with share price. It is a fact, however, that we have paid consistent dividends since our public listing in 2013. Over the past five years, stockholders have received $1.64/share in dividends, with a 100% increase in dividends paid since 2018. In other words, all things being equal, companies with appreciating shares should have lower dividend yields. Because ORM's stock price has significantly outperformed its peer group in total stockholder return, we have a lower dividend yield... The Hovde Group's and its nominees' interests are not aligned with all stockholders. It has made clear that it is looking to sell its stock within a year, but ideally as soon as possible. In fact, the Hovde Group wanted your Board to buy back its shares at $18.25 per share just a few months ago. It has since started selling stock. As of May 31, 2018, it sold 10,000 shares when our stock hit $17 per share."

08:36 EDT Boston Scientific to buy Cryterion Medical; terms include $202M in upfront cash - Boston Scientific announced a definitive agreement to acquire Cryterion Medical, Inc., a privately-held company developing a single-shot cryoablation platform for the treatment of atrial fibrillation. The addition of this cryoballoon platform positions the company as the first to have both cryothermal and radiofrequency single-shot, balloon-based ablation therapies in its portfolio. Boston Scientific has been an investor in Cryterion since its inception in 2016 and the transaction price for the approximately 65% remaining stake not already owned by Boston Scientific consists of $202M in up-front cash. Boston Scientific expects the transaction to be immaterial on an adjusted earnings per share basis through 2020, and accretive thereafter. On a GAAP basis for 2019 and subsequent years, the transaction is expected to be less accretive, or more dilutive as the case may be, due to amortization expense and acquisition-related net charges. For 2018 on a GAAP basis, the transaction is expected to be accretive due to a one-time gain on prior investment.

08:33 EDT Chanticleer Holdings expects overall store count to grow at least 20% in 2018 - Chanticleer Holdings announced the opening of its newest Little Big Burger franchise location in Austin Texas. This location marks the first of a minimum of three stores to be opened in Texas as part of a previously announced multi-unit franchise deal with Big Star BG, an Austin-based restaurant group. Big Star BG will manage all aspects of the operation. Chanticleer Holdings current total restaurant count consists of 58 locations both in the US and abroad. The Company expects overall store count to grow at least 20% in 2018 primarily led by franchising and joint ventures of the LBB and BGR brands.

08:31 EDT Farmmi awarded multiple contracts to supply dried edible fungus products - Farmmi, Inc. announced that between March and June it has been awarded multiple contracts to supply three Asian distributors of dried edible fungus products including Shiitake mushrooms and Mu Er mushrooms. The company signed multiple sales contracts with Qingdao Gabsan Trading Co., Ltd., a Chinese trading company affiliated with H-MART Group, a supermarket chain which operates Korean supermarkets in the U.S., Canada, Europe and India. The company signed a sales contract with Hi-Rise International Ltd., a well-known comprehensive trading company in Taiwan. The company also signed a sales contract with Hongxing International Trade Co. Ltd., a trading company in Japan.

08:30 EDT Xplore Technologies trading resumes

08:14 EDT Aegean Marine enters MOU with Mercuria Energy, will explore global partnership - Aegean Marine announced that it has entered into a memorandum of understanding, or MOU with Mercuria Energy to support Aegean's existing U.S. and global revolving credit facilities and to explore a global strategic partnership. Under the terms of the agreement, Mercuria intends to provide a $1B trade finance facility intended to support the company's existing U.S. and global revolving credit facilities. Mercuria will also provide increased liquidity to Aegean of not less than $30M, adding flexibility to Aegean's operations. Upon closing of the trade finance facility, the Company will issue new shares equal to 30% of its common stock to Mercuria and will invite a representative of Mercuria to join the company's board. The agreement also contemplates a potential broader strategic partnership between the company and Mercuria, including operational services, trading and hedging arrangements, and other support provided by Mercuria to Aegean. Mercuria has the exclusive right to complete the trade finance facility by August 15 and to pursue the strategic partnership transaction until January 31, 2019, subject to specified exceptions and termination events. The transactions described above are subject to final documentation and regulatory analysis, and there can be no assurance this will be completed.

08:10 EDT Zebra Technologies to acquire Xplore Technologies for $6.00 per share - Zebra Technologies (ZBRA) and Xplore Technologies (XPLR) announced that their boards of directors have approved a definitive agreement in which Zebra will acquire all outstanding common stock of Xplore for $6.00 per share in cash. Under the terms of the agreement, Zebra plans to effect the acquisition via a tender offer. Xplore has established a leading position as an innovative developer of semi-, fully- and ultra-rugged tablets, 2-in-1 laptops, and a range of performance matched accessories. These products serve existing vertical markets for Zebra such as retail, manufacturing, transportation & logistics and healthcare, and provide an inroad into new markets including oil & gas, utility, government and public safety. Xplore generated revenue of $87M in the 12-month period ended March 31. Zebra is effecting the acquisition through a public tender offer for 100% of the shares of Xplore. In connection with the execution of the merger agreement, certain Xplore shareholders have entered into tender support agreements with Zebra pursuant to which they have agreed to tender their shares to Zebra's offer. The aggregate consideration of the transaction, including assumed indebtedness, is expected to be less than or equal to $90M. Zebra expects to fund the transaction with a combination of cash on hand along with fully committed financing available under its credit facility. The transaction is subject to customary closing conditions and is expected to close in Q3.

08:08 EDT InterDigital, Fujitsu Connected Technologies enter patent license agreement - InterDigital (IDCC) announced that its patent holding subsidiaries have entered into a multi-year, worldwide, non-exclusive, royalty bearing patent license agreement with Fujitsu Connected Technologies Limited (FJTSY). The agreement covers the sale of FCNT's 2G, 3G and 4G terminal unit products, including LTE and LTE-Advanced products.

08:04 EDT Clovis announces EMA validation for variation to MA for Rubraca - Clovis announced that the European Medicines Agency, or EMA, has validated the application for a Type II variation to the marketing authorization, or MA, for Rubraca to include maintenance treatment of adult patients with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in a complete or partial response to platinum based chemotherapy. This validation confirms the submission is complete and begins the EMA's centralized review process. This submission is based on the positive results from the phase 3 ARIEL3 study, which evaluated rucaparib in the ovarian cancer maintenance treatment setting among three populations with all patients treated in ARIEL3. ARIEL3 successfully achieved its primary endpoints, extending investigator assessed progression-free survival versus placebo in

08:02 EDT Zebra Technologies to acquire Xplore Technologies for $6.00 per share - Zebra Technologies Corporation (ZBRA) and Xplore Technologies Corporation (XPLR) announced that their boards of directors have approved a definitive agreement in which Zebra will acquire all outstanding common stock of Xplore for $6.00 per share in cash. Under the terms of the agreement, Zebra plans to effect the acquisition via a tender offer. Over its 22-year history, Xplore has established a leading position as an innovative developer of semi-, fully- and ultra-rugged tablets, 2-in-1 laptops, and a range of performance matched accessories. Xplore's highly differentiated products are designed to withstand demanding conditions across diverse end markets. These products serve existing vertical markets for Zebra such as retail, manufacturing, transportation & logistics and healthcare, and provide an inroad into new markets including oil & gas, utility, government and public safety. Xplore generated revenue of $87M in the 12-month period ended March 31, 2018. Xplore's offerings complement Zebra's industry-leading enterprise mobile computing, data capture, and printing portfolios, which will now serve a wider range of enterprise customers and accelerate growth. Zebra's scale, vertical market expertise, and go-to-market footprint will create substantial synergies. Zebra expects this transaction to be neutral to its non-GAAP earnings for 2018, and accretive beyond this year. Zebra is effecting the acquisition through a public tender offer for 100% of the shares of Xplore. In connection with the execution of the merger agreement, certain Xplore shareholders have entered into tender support agreements with Zebra pursuant to which they have agreed to tender their shares to Zebra's offer. The aggregate consideration of the transaction, including assumed indebtedness, is expected to be less than or equal to $90M. Zebra expects to fund the transaction with a combination of cash on hand along with fully committed financing available under its credit facility. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2018.

07:56 EDT Canopy Growth announces supply agreement with the AGLC - Canopy Growth announces the completion of a supply agreement with the Alberta Gaming, Liquor & Cannabis Commission, or "AGLC," to supply the province with premium cannabis products in a variety of forms including whole-flower, oil, and Softgel capsules. "Under the terms of the agreement, the largest of its kind in Canada, Canopy Growth will supply Alberta with over 15,000 kilograms of cannabis products to support the first six months of the province's adult use recreational cannabis market set to open on October 17, 2018. Inventory will be replenished by the company as requested and the AGLC reserves the right to extend the agreement for up to two additional years in 12-month increments. Should the need arise, Canopy Growth is prepared to go beyond the minimum supply commitment to ensure the AGLC has sufficient product to meet market demand," the company stated.

07:42 EDT Digital Ally says WatchGuard Video case is moving towards trial - Digital Ally (DGLY) is pleased to announce a significant development in its litigation against Enforcement Video, d/b/a WatchGuard Video. After successfully defeating all five inter partes review challenges filed by both WatchGuard and Axon Enterprise (AAXN) with the United States Patent and Trademark Office, the Court has lifted the stay and will allow the litigation against WatchGuard to proceed, with no restrictions, towards trial. The parties have until December 2018 to finalize their discovery efforts and a Pretrial Conference has been set for April 9, 2019. WatchGuard fervently opposed any efforts by Digital Ally to conduct discovery relating to the issues of infringement and damages, but the Court denied this request. Digital Ally will now be allowed to fully conduct discovery into WatchGuard's use of Digital's patented technology and the revenue it has obtained from infringing the three asserted patents. Additionally, the Court also indicated that a ruling on the claim construction briefing in the Axon case is imminent. Once this ruling is issued it will trigger an existing scheduling order that will move the case to trial. If the Court's order issues this month, as expected, both the Axon WatchGuard cases will be on similar schedules, moving quickly towards separate trials.

07:39 EDT Zynerba expects cash, cash equivalent position to fund operations into 2H19 - The company now believes that the cash and cash equivalent position of $52.1M as of March 31, 2018 is sufficient to fund operations and capital requirements into 2H19.

07:37 EDT Siga Technologies' TPOXX supports antiviral activity for smallpox treatment - Siga Technologies announced the publication of data in the New England Journal of Medicine from its pivotal human safety and animal efficacy studies of its oral formulation of TPOXX. These results support the antiviral activity and favorable safety profile of TPOXX for the treatment of smallpox. TPOXX efficacy was investigated in lethal monkeypox/non-human primate, or NHP, and rabbitpox/rabbit models in accordance with the FDA "Animal Rule" interpreted for smallpox therapeutics by an expert advisory committee. A placebo-controlled human pharmacokinetic and safety study was performed in 449 adult volunteers. The minimum dose of TPOXX to achieve over 90% survival in the monkeypox/NHP model was 10 mg/kg for 14 days, while a dose of 40 mg/kg for 14 days was similarly efficacious in the rabbitpox/rabbit model. Although the effective dose per kg was higher in rabbits, exposure was lower suggesting that the NHP is the more conservative model for estimation of the required human drug exposure. Human dosing at 600 mg twice daily for 14 days was selected for testing, and provided exposures in excess of NHP exposures. No pattern of concerning adverse events was observed. Based on efficacy in two animal models and human PK and safety data, TPOXX is being advanced as a therapy for smallpox infection based on the FDA Animal Rule.

07:31 EDT Stellar Biotech: Conclusion of Neovacs study an 'important milestone' - Stellar Biotechnologies issued a statement on the "favorable" Phase 2b study results published by Neovacs, S.A., a customer and joint venture partner. The following is a statement from Frank R. Oakes, Stellar's Chairman of the Board, President and CEO: "We would like to extend our congratulations to Neovacs on the encouraging results achieved in its Phase 2b study and on the continuing advancement of their IFN-Alpha-Kinoid immunotherapy in systemic lupus erythematosus, which the Lupus Foundation has described as 'one of the world's cruelest, most unpredictable and devastating diseases.' In addition to achieving key endpoints, Neovacs reported potent and long-lasting biological activity of their therapeutic vaccine, which utilizes Stellar KLH as a carrier molecule. The KLH-conjugated vaccine also demonstrated a favorable safety profile among study participants. The conclusion of this study is an important milestone for Neovacs as well as for Stellar. We believe these results will help to reinforce the role of Stellar KLH as a key component in immunotherapy treatments.We look forward to working with Neovacs as it prepares for its pivotal Phase 3 clinical studies. Stellar remains focused and fully committed to ensuring the environmentally sound production of KLH to meet the increased volumes required by Neovacs for Phase 3 trials, manufacturing validation and scale-up."

07:11 EDT Boeing, Embraer to continue finalization of agreement in the coming months - Finalization of the financial and operational details of the strategic partnership and negotiation of definitive transaction agreements are expected to continue in the coming months. Upon execution of these agreements, the transaction would then be subject to shareholder and regulatory approvals, including approval from the Government of Brazil, as well as other customary closing conditions. Assuming the approvals are received in a timely manner, the transaction is expected to close by the end of 2019, 12-18 months after execution of the definitive agreements.

07:08 EDT Partnership to be accretive to Boeing's EPS beginning in 2020 - The proposed partnership is expected to be accretive to Boeing's earnings per share beginning in 2020 and to generate estimated annual pre-tax cost synergies of approximately $150M by year three.

07:07 EDT Transaction values 100% of Embraer's commercial aircraft ops at $4.75B

07:06 EDT Boeing, Embraer to establish strategic aerospace partnership - Boeing (BA) and Embraer (ERJ) announced they have signed a Memorandum of Understanding to establish a strategic partnership that positions both companies to accelerate growth in global aerospace markets. The non-binding agreement proposes the formation of a joint venture comprising the commercial aircraft and services business of Embraer that would strategically align with Boeing's commercial development, production, marketing and lifecycle services operations. Under the terms of the agreement, Boeing will hold an 80% ownership stake in the joint venture and Embraer will own the remaining 20% stake. "By forging this strategic partnership, we will be ideally positioned to generate significant value for both companies' customers, employees and shareholders - and for Brazil and the United States," said Dennis Muilenburg, Boeing's Chairman, President and Chief Executive Officer. "This important partnership clearly aligns with Boeing's long-term strategy of investing in organic growth and returning value to shareholders, complemented by strategic arrangements that enhance and accelerate our growth plans," Muilenburg said. The transaction values 100 percent of Embraer's commercial aircraft operations at $4.75 billion, and contemplates a value of $3.8 billion for Boeing's 80 percent ownership stake in the joint venture. The proposed partnership is expected to be accretive to Boeing's earnings per share beginning in 2020 and to generate estimated annual pre-tax cost synergies of approximately $150 million by year three. The strategic partnership will bring together more than 150 years of combined leadership in aerospace and leverage the two companies' highly complementary commercial product lines. The partnership is a natural evolution of a long-standing history of collaboration between Boeing and Embraer over more than 20 years. On finalization, the commercial aviation joint venture will be led by Brazil-based management, including a President and Chief Executive Officer. Boeing will have operational and management control of the new company, which will report directly to Muilenburg. The joint venture will become one of Boeing's centers of excellence for end-to-end design, manufacturing, and support of commercial passenger aircraft, and will be fully integrated into Boeing's broader production and supply chain. Boeing and the joint venture would be positioned to offer a comprehensive, highly complementary commercial airplane portfolio that ranges from 70 seats to more than 450 seats and freighters, offering best-in-class products and services to better serve the global customer base. In addition, both companies will create another joint venture to promote and develop new markets and applications for defense products and services, especially the KC-390 multi-mission aircraft, based on jointly-identified opportunities.

07:04 EDT Embraer, Boeing reach preliminary agreement for joint venture

07:02 EDT EU Commission approves expanded indication for Bristol-Myers' Sprycel - Bristol-Myers Squibb Company announced that the European Commission has expanded the indication for Sprycel to include the treatment of children and adolescents aged 1 year to 18 years with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase, and to include a powder for oral suspension formulation. The approval follows a positive opinion issued by the European Medicines Agency's Committee for Medicinal Products for Human Use on April 26, 2018, and makes Sprycel the first ever tyrosine kinase inhibitor to be approved in a powder formulation for administration in pediatric patients and patients who cannot swallow tablets. The EC approval is based on data from CA180-226, the largest prospective trial evaluating the safety and efficacy of Sprycel in pediatric patients newly diagnosed with CP-CML, and in those resistant to or intolerant of imatinib. In the Phase 2 CA180-226 trial, at minimum two-year follow-up, patients with CP-CML resistant to or intolerant of imatinib who received Sprycel demonstrated a cumulative major cytogenetic response rate of 55.2% 3 months into treatment, exceeding the defined threshold of clinical interest for the primary endpoint of the cohort and increasing over time to greater than 90% at 24 months. Newly diagnosed patients with CP-CML who received Sprycel as a tablet or as powder for oral suspension achieved a cumulative complete cytogenetic response rate, the primary endpoint in the cohort, of 64% as early as 6 months into treatment, exceeding the defined threshold of clinical interest and increasing over time to 94% at 24 months. The secondary endpoint of estimated progression-free survival at 48 months was greater than 75% for patients resistant to or intolerant of imatinib and greater than 90% for patients who received Sprycel as a first-line therapy. Sprycel was shown to have a comparable safety profile in pediatric patients with CP-CML to that reported in adults with CP-CML. The most commonly reported adverse events in newly diagnosed patients treated with Sprycel were nausea/vomiting, rash and diarrhea, and in imatinib-intolerant or -resistant patients were nausea/vomiting, myalgia/arthralgia, fatigue and rash. In this study, there were no reported events of pleural/pericardial effusion, pulmonary edema/hypertension or pulmonary arterial hypertension related to Sprycel. Study results were published in the Journal of Clinical Oncology in March 2018.

07:01 EDT Alio announces restructuring of existing debt facility - Alio Gold announced that it has restructured the existing debt facility, with Macquarie Bank Limited, which was scheduled to be repaid in December 2018. As of June 30, 2018 the outstanding principal of $15M will be repaid, in twelve quarterly payments of $1.25M in principal together with accrued interest, ending in June 2021. The first principal and interest payment will be made September 30, 2018. The facility has an interest rate of LIBOR + 8% and is secured by a general security agreement and guarantee by Alio Gold.

06:52 EDT NovaBay expands sales organization to 'pursue profitable growth' - NovaBay Pharmaceuticals announces it has completed the most recent planned expansion of its salesforce by hiring of 7 sales representatives. The company now has a commercial salesforce of 45 representatives as the company pursues profitable growth. "We are very encouraged by the high quality of our new hires, all of whom have significant experience in promoting prescription ophthalmic products," said CEO Mark Sieczkarek. "Our new sales representatives are being deployed in what we believe to be under-served territories and will target high Avenova prescribers with the goal of increasing the number of prescriptions per physician. We are working in parallel to secure new or enhanced health plan insurance coverage, which we expect to improve revenue per unit and the number of units covered by commercial insurance. We plan to hire an additional 10 to 15 sales representatives this year, anticipating that new sales representatives typically require about six months to make meaningful contributions to Avenova sales. Reflecting the size and composition of our current salesforce, as well as future hiring plans, we expect net sales for the second quarter of 2018 to approximate the first quarter. We also expect net sales to increase sequentially in each successive quarter through the remainder of 2018. We expect gross margin on Avenova sales to be in the 90% range for the full year 2018. We are optimistic about returning to strong double-digit net sales growth in 2019 as we continue our salesforce expansion, our new sales representatives gain tenure, and prescription reimbursement and coverage improve."

06:37 EDT Wabco signs long-term agreement with Hyundai Motor to supply single-piston ADBs - WABCO Holdings (WBC) announced its largest ever contract in South Korea. Under the long-term agreement with Hyundai Motor Company (HYMTF), WABCO will supply its breakthrough MAXX single-piston air disc brake technology for series production on Hyundai's new medium-duty trucks starting in August 2019. With over five million systems sold, WABCO is the global market leader for single-piston air disc brakes. WABCO's pioneering MAXX represents the lightest and highest performing single-piston ADB range for commercial vehicles and offers a number of differentiating benefits for original equipment manufacturers. Superbly engineered and compactly designed, MAXX offers a potential vehicle weight reduction of 100 kilograms with optimized wheel ends when compared to conventional drum brakes, which helps improve fuel efficiency and enables increased transport payloads. WABCO's MAXX ADB also provide enhanced safety and efficiency with shorter stopping distances and easier maintenance over conventional drum brakes. With up to 25% fewer parts compared to other ADB brands, WABCO's MAXX ADB offer superior reliability, faster serviceability and expanded service intervals. Hyundai Motors will now become the first manufacturer to adopt ADB technology on all axles as standard on medium-duty trucks in the South Korean market. Significantly reducing brake noise, Hyundai Motor's new range of medium-duty trucks will be equipped with WABCO's MAXX19 ADB featuring a specially customized new brake pad solution.

06:34 EDT Cable One appoints Steven Cochran as CFO - Cable One has appointed Steven Cochran as Senior Vice President and CFO. Cochran will join Cable ONE as Senior VP on August 6, and will succeed Kevin Coyle as CFO effective August 13, following the release of the company's Q2 earnings results. Coyle, who previously announced his intention to retire, will remain a Senior Vice President until early January 2019, serving in an advisory role and working with Cochran to ensure a transition. Cochran spent 15 years at Wide Open West, a Denver-based cable operator. During his tenure at WOW, Cochran held positions of increasing responsibility, including CFO, COO and, most recently, CEO.

06:31 EDT Azure Power wins 600MW solar power project under India's largest solar auction - Azure Power announced it has won a 600 megawatt solar power project through an auction conducted by Solar Energy Corporation of India, a Government of India enterprise and a company with an AA+ domestic debt rating by ICRA, a Moody's Company. The project is the largest solar auction in India and also the first Interstate Transmission System grid connected solar PV project auctioned by SECI. Azure Power expects to sign a 25-year power purchase agreement with SECI to supply power at a tariff of INR 2.53 per kWh, approximately 4% higher than the lowest bid in the same auction. The project can be developed outside a solar park anywhere in India and is expected to be commissioned by 2020. The 600 MWs win, out of the total 2,000 MWs tendered in the auction, is the largest allocation of any solar auction in India. Azure Power's total portfolio is spread across 23 states with approximate 80% of its operating or committed projects with counterparties that have domestic debt ratings that are A or higher.

06:05 EDT Amazon.com launches deals in exclusive brands ahead of Prime Day - Amazon.com announced its top Prime Day deals across a range of private label selection from apparel and accessories to furniture, home decor and more, through July 17. Prime members can shop discount prices on products available exclusively to Amazon customers, with more deals on additional selection coming over the next 11 days.

06:02 EDT Volaris reports June traffic up 14.1% - Volaris reports June 2018 and year-to-date preliminary traffic results. During June 2018 Volaris increased total capacity, as measured in Available Seat Miles, by 14.8% year over year. Total demand, as measured in Revenue Passenger Miles, in June 2018 increased 12.1% year over year, reaching 1.5 billion. Volaris transported a total of 1.5 million passengers during the month, an increase of 14.1% year over year. Network load factor for June was 87.0%, a decrease of 2.1 percentage points year over year.

05:48 EDT Cellcom Israel announces time table change for frequencies - Cellcom Israel announced that following the Company's previous reports regarding a frequencies migration the Company shall be required to execute to accord to European standards, the Ministry of Communications, or MOC, notified the Company that its 850MHZ frequencies allocation shall expire on February 1, 2022 and replaced by 900MHZ frequencies no later than March 22, 2021. The method and schedule in which such replacement will be executed, including interim frequencies allocations as required, shall be formed separately. The MOC noted the Company may use an interim leniency to the Planning and Building Law, allowing, under certain conditions, replacement of cell sites without obtaining a building permit. The Company is examining the implications of the MOC's notification and possible courses of action.

05:45 EDT Nokia, Tencent sign agreement to accelerate 5G webscale research, applications - During Mobile World Congress Shanghai, Nokia (NOK) and Tencent (TCEHY) have signed an agreement to carry out joint research and development work to explore the potential of 5G for the provision of new applications, including those for a variety of vertical markets. Under a Memorandum of Understanding, Nokia and Tencent will establish an end-to-end 5G test environment in Shenzhen. With 1.04B combined monthly active user accounts of its WeChat and QQ social media applications, Tencent aims to leverage the massive connectivity, increased speeds, capacity and reliability and lower latency enabled by 5G to enhance these services. Going forward, Nokia and Tencent will leverage the artificial intelligence and automation management capabilities enabled by 5G to promote international standards and an open-source ecosystem to expand the development of new services. The companies will conduct 5G applications research using technologies such as Edge Computing to benefit a number of vertical markets, including transportation, finance, energy, intelligent manufacturing and entertainment. This will potentially open up the widespread introduction of applications such as Cellular Vehicle-to-Everything and enhance the delivery of services such as cloud-based gaming and entertainment. Key elements of the agreement:Establishes a joint laboratory equipped with leading 5G technologies, products and solutions, including centralized and decentralized split architecture using Nokia Airscale Radio Access Network, 5G Core, MEC framework and third party devices. Leverages the capabilities of an end-to-end 5G testing environment. Nokia and Tencent will conduct verification on service key performance indicators and develop new 5G and IoT use cases.

05:15 EDT Praxair sells majority of European assets to Taiyo for EUR 5B - Praxair (PX), in accordance with its proposed business combination with Linde (LENGY), has signed an agreement to sell the majority of its businesses in Europe to Taiyo Nippon Sanso Corporation. The divested businesses generated annual sales of approximately 1.3B euros in 2017. The purchase price for this transaction is EUR 5B in cash consideration and is subject to customary adjustments at closing. This agreement is conditioned on the successful consummation of the Praxair-Linde merger and other regulatory approvals. The assets to be sold include Praxair's industrial gases businesses in Belgium, Denmark, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden and the United Kingdom and include approximately 2,500 employees. Praxair says it and Linde continue to "work diligently with the relevant antitrust authorities with the objective of closing the merger during the second half of 2018." Praxair will continue to own, operate and maintain these businesses until the closing of the merger and this European divestiture transaction. "We are taking a constructive approach to address regulatory concerns with the merger in the European Economic Area," said Steve Angel, Praxair chairman and chief executive officer. "Taiyo Nippon Sanso is a strong and capable global industrial gas buyer for our assets and we are pleased that they will continue to serve the needs of our customers in Europe."