Stockwinners Market Radar for July 13, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:16 EDT Seacor favors combination of Dorian LPG and BW LPG Limited - Seacor (CKH) announced that it sent a letter to the Board of Directors of Dorian LPG (LPG), a company in which Seacor holds an approximate 9.42% equity interest, noting it favors a combination of Dorian LPG and BW LPG Limited.

17:47 EDT FDA announces voluntary recall of several medicines containing valsartan - The U.S. Food and Drug Administration is alerting health care professionals and patients of a voluntary recall of several drug products containing the active ingredient valsartan, used to treat high blood pressure and heart failure. This recall is due to an impurity, N-nitrosodimethylamine, which was found in the recalled products. However, not all products containing valsartan are being recalled. NDMA is classified as a probable human carcinogen based on results from laboratory tests. The presence of NDMA was unexpected and is thought to be related to changes in the way the active substance was manufactured. The FDA's review is ongoing and has included investigating the levels of NDMA in the recalled products, assessing the possible effect on patients who have been taking them and what measures can be taken to reduce or eliminate the impurity from future batches produced by the company. Reference Link

17:13 EDT Yankees suspend relationship with Papa John's - The New York Yankees announced via their Twitter account that they are suspending their relationship with Papa John's. "In response to the reprehensible remarks made by Papa John's founder and owner, the New York Yankees are suspending their relationship with the company," the Yankees account tweeted.

17:08 EDT Hugh Griffith reports 9.95% passive stake in NuCana

16:35 EDT Scana increases board, forms special litigation committee - Scana announced that it has increased the size of its board by two members and that two new independent directors, John Bachman and Patricia Galloway, have been elected to the board. Bachman and Galloway will serve as directors until the upcoming annual shareholders meeting at which time they will be presented for election by shareholders. The board also appointed Bachman and Galloway to a special litigation committee of the board formed for the purpose of investigating claims being alleged against current and former officers and directors of Scana in shareholder derivative actions pending in state and federal courts in South Carolina and determining whether it is in the best interests of Scana to pursue such claims. Galloway will serve as chair of the committee.

16:31 EDT Ryder raises quarterly dividend to 54c from 52c per share - To be paid on September 21 to shareholders of record on August 20.

16:19 EDT Red Lion Hotels sells Red Lion Hotel Port Angeles for $19.5M - RLH announced the sale of Red Lion Hotel Port Angeles, for $19.5M. The hotel is the eighth of 11 hotels being marketed for sale previously disclosed in October 2017. Red Lion Hotel Port Angeles, along with all other sold hotels, has signed a franchise license agreement to retain their Red Lion brand. RLH Corporation's total gain on the sale is expected to be approximately $11.5M. With this sale, RLH Corporation fully retired the remaining $24.2M of debt held by Pacific Western Bank applying $15.6M of proceeds from the sale and the restricted cash associated with the debt. Together with the other seven previously announced sales, RLH Corporation's gain on sales is approximately $27.4M.

16:16 EDT Sangamo names Edward Rebar, Ph.D. as Chief Technology Officer - Sangamo Therapeutics announced that Michael Holmes, Ph.D., Senior Vice President and Chief Technology Officer, will resign from the company effective July 20th to pursue an opportunity with a startup biotech company. Edward Rebar, Ph.D., has been named Senior Vice President and Chief Technology Officer, effective immediately. Dr. Rebar joined Sangamo in 1998, and over the last 20 years he has led the development of the Company's zinc finger protein platform. He has authored over 60 publications relating to the development of customized DNA binding proteins and nucleases for genome editing. Prior to joining Sangamo, he was a post-doctoral fellow at the University of California, Berkeley

16:08 EDT Partner Fund Management reports 5.1% passive stake in MyoKardia

16:06 EDT Cellectar Biosciences announces 1-for-10 reverse stock split - Cellectar Biosciences announces a 1-for-10 reverse split of its common stock, effective at the close of business today. Stockholders approved the reverse stock split at Cellectar's special meeting of stockholders held on July 12, 2018. On July 9, 2018, Cellectar's Board of Directors approved the implementation of the reverse stock split and determined the appropriate reverse stock split to be a ratio of 1-for-10, subject to stockholder approval. Shares of Cellectar's common stock will trade on a post-split basis beginning on July 17, 2018. The Company's ticker symbol, CLRB, will remain unchanged.

16:02 EDT Advantech Capital reports 8.3% passive stake in Seven Stars Cloud Group

15:17 EDT Akorn drops 8% on fifth day of buyout fight trial - Shares of Akorn (AKRX) are moving lower on the fifth day of the company's trial with Fresenius (FSNUY) over its proposed buyout at $34 per share. Akorn shares have declined 7.9% to $17.70 to session lows in late Friday trading.

15:10 EDT SJW says Connecticut Water deal remains on track to close during 4Q18 - SJW Group (SJW) issued the following statement to clarify the anticipated regulatory timeline to complete its merger with Connecticut Water Service (CTWS): "We remain committed to our signed, definitive agreement to merge with Connecticut Water as the superior path forward for our stockholders and all of our constituents. We are pleased that Connecticut Water's Board, after a careful review, has reaffirmed its commitment to our merger as the superior transaction for its shareholders and all of its constituents. As previously stated, we will cooperate with the California Public Utilities Commission's Order Instituting Investigation, a fact-finding initiative by which the CPUC will determine whether the transaction is subject to its review, and if so, whether it is in the public interest, and its additional request to consider the ratemaking impacts of the proposed merger as part of San Jose Water Company's current general rate case that was filed this past January and is scheduled to conclude this December. The CPUC has committed to completing the OII within the next five months, which keeps us on track to complete our proposed merger with Connecticut Water during the fourth quarter of 2018. We look forward to supporting the CPUC's review of the significant benefits we believe our transaction will provide our customers, employees, shareholders and the communities we serve by creating a combined company with scale, geographic diversity, and financial strength."

15:02 EDT Siga Technologies receives FDA approval for TPOXX to treat smallpox - The U.S. Food and Drug Administration approved TPOXX, which it called "the first drug with an indication for treatment of smallpox." FDA Commissioner Scott Gottlieb said: "To address the risk of bioterrorism, Congress has taken steps to enable the development and approval of countermeasures to thwart pathogens that could be employed as weapons. Today's approval provides an important milestone in these efforts. This new treatment affords us an additional option should smallpox ever be used as a bioweapon. This is the first product to be awarded a Material Threat Medical Countermeasure priority review voucher. Today's action reflects the FDA's commitment to ensuring that the U.S. is prepared for any public health emergency with timely, safe and effective medical products." The FDA granted approval of TPOXX to Siga Technologies.

14:52 EDT Florida court denies Airbnb motions to dismiss suit launched by Aimco units - The Miami-Dade 11th Circuit Court this week denied Airbnb's multiple motions to dismiss the lawsuit launched by three subsidiaries of Apartment Investment and Management Company and cleared the way for the Aimco subsidiaries to pursue claims against the short-term rental giant which has intentionally brokered unauthorized short-term rentals at Aimco communities. "The court decisions this week allow us to continue with our case and affirm that Airbnb can be held accountable for the illegal short-term rental activities it knowingly promotes at our communities," said Aimco Spokesperson Cindy Lempke. "Our residents deserve to know their neighbors and to live in a safe, peaceful environment without the disruption of transient vacationers whom Airbnb continues to send to our communities."

14:32 EDT Dominion-SCANA merger receives FERC approval - The proposed merger of Dominion Energy, Inc. (D) and SCANA Corporation (SCG) has achieved another significant milestone with the approval of the Federal Energy Regulatory Commission. In an order issued July 12, FERC found the combination of the two companies "is consistent with the public interest and is authorized." The merger previously received approval of the Georgia Public Service Commission and early termination by the Federal Trade Commission of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act. The merger is also contingent upon approval of SCANA's shareholders; review and approval from the public service commissions of South Carolina and North Carolina; and authorization of the Nuclear Regulatory Commission.

14:21 EDT Roche says PCT assay cleared by FDA for expanded use - Roche announced that it has received clearance from the U.S. Food and Drug Administration for the expanded use of its Elecsys BRAHMS PCT assay to aid in antibiotic therapy decision making. The Elecsys BRAHMS PCT was previously cleared by the FDA to evaluate the risk of progression to severe sepsis and septic shock in critically ill patients and 28-day mortality after diagnosis. The assay may now be used to support antibiotic treatment decisions in patients with suspected or confirmed sepsis and suspected or confirmed lower respiratory tract infections, defined as acute exacerbations of chronic obstructive pulmonary disease, community acquired pneumonia, and acute bronchitis.

14:06 EDT Cisco slides as Amazon said to eye selling switches - Shares of Cisco (CSCO) are sharply lower in Friday afternoon trading after The Information's Wayne Ma and Kevin McLaughlin reported earlier that Amazon's (AMZN) cloud unit, AWS, is considering selling its own networking switches for business customers. The report, which cites a person with direct knowledge of the unit's plans and another person who has been briefed on the project, said AWS' plans could pose "a direct challenge to incumbents in the business like Cisco." OTHERS TO WATCH: Other switching solution providers include Juniper Networks (JNPR), HP Enterprise (HPE), Arista Networks (ANET) and Nokia (NOK). 'NOTABLE NEGATIVE': After The Information's report, RBC Capital analyst Mitch Steves said that, if true, this would be a notable negative for those in the networking equipment space, including Cisco, Arista and Juniper. While others have created their own white-box hardware, none have created a commercial product so far and AWS would be the first major commercial provider of white-box switches, said Steves, who also said "it is important to note" that current sales and revenue trends will likely be safe since the report said a launch could potentially occur in 18 months. He also thinks Cisco and Arista in particular have "solid" software products that would help them compete against a new entrant such as AWS. PRICE ACTION: Near 2 pm ET, Cisco shares are down $2.19, or 5%, to $41.37. Juniper is also down 3% and Arista has fallen nearly 5%.

13:48 EDT Boeing to recognize $124M charge following Delaware Supreme Court ruling - The Boeing Company (BA) will recognize a charge to earnings to reflect a Delaware Supreme Court ruling that the company is not entitled to recover certain costs associated with the 2005 sale of its production facilities in Wichita, Kansas to Spirit Aerosystems (SPR). Boeing filed a complaint against Spirit in the Delaware Superior Court in 2014 seeking to enforce its rights to indemnification and to recover from Spirit amounts incurred by Boeing for pension and retiree medical obligations. Earlier this year, Boeing filed a notice of appeal with the Delaware Supreme Court, which ruled against the company in a decision issued yesterday. The $124M after-tax charge, or 21c per share, which will be recognized in the second quarter, relates to the write-off of a receivable the company had previously recorded in connection with Spirit's indemnification obligations. The charge does not affect revenue or cash flow.

13:05 EDT Baker Hughes reports U.S. rig count up 2 to 1,054 rigs - Baker Hughes reports that the U.S. rig count is up 2 rigs from last week to 1,054, with oil rigs unchanged at 863, gas rigs up 2 to 189, and miscellaneous rigs unchanged at 2. The U.S. Rig Count is up 102 rigs from last year's count of 952, with oil rigs up 98, gas rigs up 2, and miscellaneous rigs up 2. The U.S. Offshore Rig Count is unchanged at 19 and down 2 rigs year-over-year. The Canada Rig Count is up 15 rigs from last week to 197, with oil rigs up 13 to 139 and gas rigs up 2 to 58. The Canada Rig Count is up 6 rigs from last year's count of 191, with oil rigs up 33 and gas rigs down 27.

12:50 EDT Ingenico names Nicolas Huss as COO - Philippe Lazare, Chairman and CEO of Ingenico Group, appoints Nicolas Huss as COO. In this capacity, Huss oversees the management of the two group business units: "Retail" and "Banks & Acquirers." Johan Tjarnberg, currently CEO of Bambora and EVP of "SMB" business line, is appointed as head of the "Retail" business unit taking over from Huss. Huss joined Ingenico Group in July 2017.

12:18 EDT U.S. Air Force says completed final tests for Boeing KC-48 program - The U.S. Air Force says that the KC-46 Pegasus program achieved an important milestone July 6, 2018, at Boeing Field, Seattle, with completion of the final flight tests required for first aircraft delivery planned in late October. The integrated Air Force and Boeing test team completed all required test points for the Remote Vision System and for receiver certifications of the F-16 Fighting Falcon and C-17 Globemaster III. These two receivers, coupled with testing completed in June of KC-135 Stratotanker refueling the KC-46 as a receiver, are the minimum required for delivery."With this milestone complete, the test program has demonstrated a level of maturity that positions Boeing to deliver, and the Air Force to accept, an aircraft by the end of October 2018," said Dr. Will Roper, the Air Force service acquisition executive. The KC-46 test program is now transitioning to follow-on receiver aircraft testing and certifications required for operational testing starting in 2019. Reference Link

12:00 EDT Citi sees continued year-over-year growth in accrual businesses

11:55 EDT McDonald's to halt salad sales at some restaurants due to illness concern - McDonald's stated that it has been in contact with public health authorities from Iowa and Illinois about an increase in Cyclospora infections in those states. Out of an abundance of caution, we decided to voluntarily stop selling salads at impacted restaurants until we can switch to another lettuce blend supplier. We are in the process of removing existing lettuce blend from identified restaurants and distribution centers - which includes approximately 3,000 of our U.S. restaurants primarily located in the Midwest. McDonald's is committed to the highest standards of food safety and quality control. We are closely monitoring this situation and cooperating with state and federal public health authorities as they further investigate. Reference Link

11:53 EDT Citi says credit costs have increased - Says increased credit costs reflect loan growth. Says credit continued to be "favorable" in Q2.

11:43 EDT Citi says outperformed 4% medium-term growth target in Asia - Says cost of credit increased 6%. Says outperformed 4% medium-term growth target in Asia. Says seeing improving growth trend in Mexico over past few quarters. Says fixed income markets have been "challenging."

11:35 EDT Altium Capital reports 5.61% passive stake in Oramed

11:00 EDT Taylor Devices announces receipt of largest-ever, $7.5M contract - Taylor Devices announced receipt of a $7.5M contract for the firm's seismic dampers being used for seismic protection of the San Francisco - Oakland Bay Bridge, CA. Due to significant changes in the requirements for these specialized devices, the Taylor Devices' seismic dampers that were originally installed in 2001 are now being replaced by upgraded devices. A total of 96 large dampers, will be used to absorb earthquake energy in the bridge. "This is the largest single contract received by the company in its 63-year history," Taylor Devices noted.

10:50 EDT Wells Fargo says could cut expenses further if fee revenues don't rise

10:39 EDT Wells Fargo CEO says odds of more capital action this year 'remote'

10:36 EDT HRG Group investors approve merger with Spectrum Brands - HRG Group (HRG) announced that its stockholders approved its previously announced merger with Spectrum Brands Holdings (SPB) at a special meeting of HRG stockholders held earlier today. HRG stockholders approved all proposals put forward at the special meeting. HRG expects the merger to close after the close of business today, July 13.

10:27 EDT Wells Fargo CFO says consolidated 56 branches in Q2

10:20 EDT Wells Fargo CFO says expects auto loan balances to start to grow by mid-2019

10:10 EDT Wells Fargo CEO says 'on track' to achieve $4B of expense reductions by 2019E - Wells Fargo CEO Tim Sloan said on the company's Q2 earnings conference call that the bank must improve how it deals with risk, such as compliance and operational risk, to address challenges. Chief Risk Officer Mandy Norton "already having a positive impact" on the company, he said. Sloan said Wells is "on track" to achieve targeted $4B of expense reductions by end of 2019. The reaction to Wells Fargo's ad campaign has been "positive," he noted. Wells Fargo is down about 4% in morning trading to $53.91.

10:06 EDT Amgen post-cardiac transplant heart dysfunction treatment granted orphan status - Amgen's Corlanor was granted FDA orphan designation as a treatment of post-cardiac transplant heart dysfunction, according to a post on the FDA website. Reference Link

10:00 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly. 1. ICO DEATHS: Roughly 56% of crypto startups die within four months after finalizing their initial coin offerings, Bloomberg reported Monday, citing a study by Boston College. Researcher Leonard Kostovetsky said acquiring coins in an ICO and selling them on the first day is the safest investment strategy and all investors should probably sell their coins within the first six months. In addition, returns have been declining over time as startups become smarter about pricing coin offerings and more people have taken on ICO investing. 2. SQUARE IS NOT A BITCOIN PLAY: Nomura Instinet analyst Dan Dolev disagrees with the notion that Square (SQ) is a play on bitcoin. Cash App downloads have been accelerating despite the slump in bitcoin prices, Dolev said in a research note on Wednesday. For perspective, Coinbase's monthly downloads have turned sharply negative in recent months, the analyst said, adding that his firm's payments app tracker shows Square Cash App downloads accelerated in May/June to up 154% year-over-year. 3. COHEN INVESTS IN CRYPTO HEDGE FUND: Billionaire Steven Cohen has invested in Autonomous Partners, a hedge fund focused on cryptocurrencies and blockchain-based companies through his Cohen Private Ventures, Bloomberg reported Thursday. The hedge fund, which was started last year by Arianna Simpson, has also secured investments from Union Square Ventures, Coinbase chief executive officer Brian Armstrong and Craft Ventures co-founder David Sacks. 4. SEVEN STARS PARTNERS WITH FUNDAMENTAL INTERACTIONS: Seven Stars Cloud Group (SSC) announced Wednesday a long-term relationship and strategic licensing agreement with Fundamental Interactions. Through this agreement, SSC will leverage core Fundamental Interactions technology and the Velocity Ledger platform to support the tokenization, secondary trading and settlement of new blockchain-based securities. Velocity Ledger is a blockchain-based, software-as-a-service platform that operates as a private blockchain solution and interacts with all of the major public blockchains. CRYPTO CHATTER: Economists Joseph Stiglitz, Nouriel Roubini and Kenneth Rogoff have renewed their criticism on bitcoin claiming the cryptocurrency will be "regulated into oblivion" as governments move to crack down on money laundering, Financial News reported Monday. Nobel Prize winning Stiglitz said, "You cannot have a means of payment that is based on secrecy when you're trying to create a transparent banking system. If you open up a hole like bitcoin, then all the nefarious activity will go through that hole, and no government can allow that." In addition, Rogoff, former chief economist at the International Monetary Fund, said regulation would cause further steep falls in the cryptocurrency. NYU economist Roubini added, "For bitcoin to be a currency it has to be a unit of account, a means of payment, and a stable store of value. It is none of these." CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock (OSTK), DPW Holdings (DPW), Kodak (KODK), Seven Stars Cloud, Riot Blockchain (RIOT), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin dropped about 4.6% this week to $6,256 in U.S. dollars, according to CoinDesk. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

10:00 EDT Ingredion falls -9.3% - Ingredion is down -9.3%, or -$10.29 to $100.48.

10:00 EDT VAALCO Energy rises 5.6% - VAALCO Energy is up 5.6%, or 18c to $3.37.

10:00 EDT Cato Corp. rises 9.6% - Cato Corp. is up 9.6%, or $2.06 to $23.60.

09:47 EDT Infosys falls -4.1% - Infosys is down -4.1%, or -83c to $19.18.

09:47 EDT Nevro falls -8.5% - Nevro is down -8.5%, or -$5.77 to $62.27.

09:47 EDT Micro Focus rises 3.8% - Micro Focus is up 3.8%, or 62c to $16.78.

09:43 EDT PNC Financial 'remains on track' to achieve financial targets - Expects continued steady growth in GDP. Comments provided during Q2 earnings conference call.

09:36 EDT SenesTech's Contrapest registered by CA Department of Pesticide Regulation - Contrapest shows as a registered product with a registration date of July 12 on a posting to California's Department of Pesticide Regulation page. Reference Link

09:23 EDT Hill International, Red Brick JV awarded $47.5M - Hill International announced that a joint venture led by Hill was awarded a contract for program management services to support the needs of the Phoenix Aviation Department's Capital Improvement Program, or CIP. The fee for services will not exceed $47.5 million for this three-year base contract that has a two-year extension option. The CIP is comprised of a five-year development plan for projects at Phoenix Sky Harbor International Airport, Phoenix Goodyear Airport, and Phoenix Deer Valley Airport. The CIP includes the Terminal 3 Modernization Program, Terminal 4 S1 Concourse Project, and Phoenix Sky Train Stage 2 Project, as well as other terminal, airfield, parking, cargo, general office, and facilities projects. The CIP management services provided by the Hill/Red Brick JV will augment City staff utilizing a Qualified Vendor List of firms to form a collaborative and integrated CIP management team. In addition to CIP management services, the team will provide estimating, scheduling, and other project management-related services, as required.

09:15 EDT JPMorgan says gaining share in investment banking - Says "holding our own" in other business areas.

09:09 EDT Fly Intel: Pre-market Movers - UP AFTER EARNINGS: JPMorgan (JPM), up fractionally. ALSO HIGHER: Advaxis (ADXS), up 36% after the FDA lifted the clinical hold on the company's Investigational New Drug application for its Phase 1/2 study of axalimogene filolisbac in combination with durvalumab for the treatment of patients with certain cervical cancers and HPV-associated head and neck cancer... Galmed (GLMD), up 14% after Stifel analyst Adam Walsh initiated the stock with a Buy rating and $35 price target, calling it a "legitimate late-stage NASH play"... Biocept (BIOC), up 18% after announcing a provider agreement with Alliance Global FZ to market and distribute Biocept's Target Selector liquid biopsy tests in the United Arab Emirates and several other countries... Gogo (GOGO), up 10% after announcing that it has completed a comprehensive analysis of its business and is considering splitting company and other strategic alternatives. DOWN AFTER EARNINGS: Wells Fargo (WFC), down 3%... Citi (C), down 1.6%. ALSO LOWER: Johnson & Johnson (JNJ), down 2% after a jury awarded $4.69B to 22 women who alleged that use of J&J talcum powder products caused their ovarian cancer... Ingredion (INGR), down 9% after cutting its FY18 guidance, citing lower than expected sweetener volumes sold into beverages and higher than expected manufacturing costs... Northrop Grumman (NOC), down 2% after chairman and chief executive officer Wes Bush announced plans to step down as CEO.

09:06 EDT JPMorgan says flattening yield curve not a dire signal

09:02 EDT JPMorgan says global growth accelerating, expects yield curve to rise

08:54 EDT JPMorgan says not losing deposits to competitors - Says loan growth is "solid" and outlook remains positive. Says expects to see NIM expansion. Comments from Q2 earnings conference call.

08:33 EDT Hollister Co. partners with recording artists Khalid, Noah Cyrus - Hollister Co., a division of Abercrombie & Fitch, announced the launch of its partnership with musical artists Khalid and Noah Cyrus for the upcoming fall season. The acclaimed singer-songwriters will be part of the brand's year long #CarpeNow campaign and will be integrated in Hollister's marketing throughout the balance of the year. As part of the fall season, the company will continue its support of anti-bullying efforts, a cause it has backed since 2013. Both Khalid and Noah will join Hollister in bringing awareness to the prevalent issue impacting teenagers around the world. This year, Hollister is proud to partner with Sit With Us, an anti-bullying app created by Natalie Hampton. The app, which aims to help students find allies and lunch buddies at school, has already seen more than 100,000 downloads in eight countries. Hollister's support of Sit With Us will begin mid-September, with more details to be announced later this summer. Hollister's Back-to-School campaign, Carpe the Fit Out of Denim, sees the return of the 'Carpe Crate', a key element woven throughout Hollister's ongoing #CarpeNow platform.

08:32 EDT AT&T CEO says 'too early to say' about adding to or lowering Hulu stake

08:29 EDT AT&T CEO says others looking at deals shouldn't look at them differently now - AT&T CEO Randall Stephenson said he believes other CEOs who might be looking at media deals should not look at them any differently now that the DOJ has decided to appeal the judge's ruling in his company's case. Stephenson continues being interviewed on CNBC.

08:25 EDT AT&T CEO says DOJ appeal 'changes nothing' - AT&T CEO Randall Stephenson said the DOJ appeal "changes nothing" about how the company will be executing on its plan, adding "the merger is closed, we own Time Warner." In terms of any overhang, there is "not much we can do about that," Stephenson added.

08:19 EDT AT&T CEO says 'don't know exactly' what government basis will be for appeal - AT&T CEO Randall Stephenson is being interviewed on CNBC after the Department of Justice said that it plans to appeal AT&T's approval for its merger with Time Warner. Stephenson said he had contemplated "from the very beginning" that the DOJ might appeal a ruling and he had told the board following the ruling that the company should expect an appeal.

08:10 EDT FDA lifts hold on Advaxis study of axalimogene filolisbac with durvalumab - Advaxis announced that the U.S. Food and Drug Administration,FDA has lifted the clinical hold on the company's Investigational New Drug application for its Phase 1/2 study of axalimogene filolisbac in combination with durvalumab for the treatment of patients with advanced, recurrent or refractory cervical cancer and HPV-associated head and neck cancer. The clinical hold for this study was issued on March 9, 2018 following submission by the Company of a safety report to the FDA regarding a patient death that occurred on February 27, 2018, post-dosing, involving acute respiratory failure after nine months of combination therapy. New guidelines for the early detection and treatment of such rare events were agreed to with the FDA and will be implemented for this combination study. Enrollment and dosing in all other Advaxis and durvalumab clinical programs were not affected by the clinical hold. "We are pleased to have resolved this issue with the FDA and will implement these guidelines across Advaxis' portfolio as needed, to ensure patient safety. We remain confident in the safety of axalimogene filolisbac based on our experience in treating approximately 400 patients and more than 1200 doses across multiple trials in HPV-associated cancers," said Kenneth A. Berlin, President and Chief Executive Officer of Advaxis.

08:07 EDT Biocept announces provider agreement with Alliance Global FZ - Biocept announces a provider agreement with Alliance Global FZ to market and distribute Biocept's Target Selector liquid biopsy tests in the United Arab Emirates and select countries in the Middle East, North & Sub-Saharan Africa, and Southeast Asia region. All diagnostic testing services under this agreement will be performed in Biocept's San Diego-based CLIA-certified laboratory with Alliance Global having responsibility for sales, marketing, distribution, and reimbursement of the Company's liquid biopsy platform. Additional terms of the agreement were not disclosed.

08:04 EDT Array BioPharma: NCCN recommends BRAFTOVI, MEKTOVI combination - Array BioPharma announced that the National Comprehensive Cancer Network has updated the Clinical Practice Guidelines in Oncology for Melanoma to include BRAFTOVI in combination with MEKTOVI as a Category 1 first-line and second-line treatment option for patients with BRAFV600E or BRAFV600K-mutant metastatic or unresectable melanoma.

08:03 EDT OneMain Holdings appoints Doug Shulman as CEO - OneMain Holdings (OMF) announced that Doug Shulman will become its next President and CEO. Shulman succeeds Jay Levine who will remain Chairman of the Board. Shulman is also expected to be appointed to OneMain's Board of Directors upon his start date, which is expected to occur within the next 60 days. He joins OneMain from BNY Mellon (BK), where he had been a Senior Executive Vice President and Global Head of Client Service Delivery, and a member of the Executive Committee.

08:03 EDT Wells Fargo CEO says continuing to transform into better, stronger company - Chief Executive Officer Tim Sloan said, "During the second quarter we continued to transform Wells Fargo into a better, stronger company for our customers, team members, communities and shareholders. Our progress included making further improvements to our compliance and operational risk management programs; hiring a new Chief Risk Officer; announcing innovative new products including a digital application for Merchant Services customers and our enhanced Propel Card, one of the richest no-annual-fee credit cards in the industry; launching our 'Re-established' marketing effort, the largest advertising campaign in our history; announcing a new $200 billion commitment to financing sustainable businesses and projects; and continuing to move forward on our expense savings initiatives. I'm also pleased with our recent CCAR results, which demonstrates the strength of our diversified business model, our sound financial risk management practices, and our strong capital position, and enables us to return more capital to our shareholders in alignment with our goal of creating long-term shareholder value." Chief Financial Officer John Shrewsberry said, "Wells Fargo reported $5.2 billion of net income in the second quarter, which included net discrete income tax expense of $481 million. Net interest income grew both linked quarter and year-over-year in the second quarter, credit performance and capital levels remained strong, and we are on track to meet our expense reduction expectations. In addition, we received a non-objection to our 2018 Capital Plan, which includes an increase in our quarterly common stock dividend rate in third quarter 2018 to $0.43 per share, subject to board approval, as well as up to $24.5 billion of gross common stock repurchases during the four-quarter period beginning in third quarter 2018. The shareholder returns included in the capital plan are approximately 70% higher than our previous four quarter capital actions, demonstrating our commitment to returning more capital to shareholders. Our ability to return this level of capital is a result of capital built in recent years through continued stable earnings and a lower level of risk-weighted assets."

08:02 EDT Axalta Coating announces price increase on industrial coatings technologies - Due to continuing rising costs of raw materials, packaging and transportation, Axalta will introduce a price increase for its industrial coatings technologies sold in North America. The increase will take effect as permitted by contract and will be communicated directly to affected customers.

08:01 EDT LendingTree to acquire Student Loan Hero for $60M in cash - LendingTree announced that it has entered into a definitive agreement to acquire Student Loan Hero, a personal finance website dedicated to helping student loan borrowers manage their student debt. Student Loan Hero offers current and former students in-depth financial comparison tools, educational resources, and unbiased, personalized advice. LendingTree will acquire Student Loan Hero for a total consideration of $60M in cash to be paid upon closing. The transaction is expected to close in the third quarter of 2018, subject to third party consents and other customary closing conditions.

07:31 EDT Qualcomm extends cash offer for NXP Semiconductors to July 20 - Qualcomm (QCOM) announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP, as amended. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on July 20, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.

06:58 EDT Connecticut Water rejects Eversource bid, says not superior to SJW's bid - Connecticut Water Service (CTWS) announced that it recently received a revised acquisition proposal from Eversource Energy (ES) to acquire all of the outstanding shares of Connecticut Water common stock for $64.00 per share in cash and/or in Eversource common stock at the election of Connecticut Water shareholders. In accordance with the terms of the SJW Group amended merger agreement, the Connecticut Water Service board, in consultation with its financial and legal advisors, carefully reviewed Eversource's revised acquisition proposal and unanimously concluded that it is not a superior proposal as compared to the terms, value and benefits of the SJW Group (SJW) merger of equals. Moreover, the board unanimously determined that Eversource's revised proposal is inadequate and still undervalues Connecticut Water on a standalone basis. In unanimously rejecting Eversource's revised proposal, the Connecticut Water Service Board reiterated its willingness to consider any proposal from Eversource or any other party that delivers shareholder value superior to that provided in the SJW Group merger. To date, no superior alternative proposal has been received, even with Connecticut Water undertaking a public go-shop process during which more than 50 potential bidders were actively solicited. The company noted that Eversource was among the parties invited to participate in this process, but it declined to do so and instead has pursued a public misinformation campaign.

06:53 EDT JPMorgan CEO Dimon sees 'good global economic growth, particularly in the U.S.' - Jamie Dimon, Chairman and CEO, commented on the financial results: "We see good global economic growth, particularly in the U.S., where consumer and business sentiment is high. Because of this broad growth and the strong underlying performance across each of our businesses, the company delivered record results this quarter. We also want to acknowledge that global competition is getting stronger. The healthy U.S. consumer drove double digit growth in client investment assets, card sales and merchant processing volumes. Capital markets were open and active, leading to strong fee and markets revenue performance. In the Corporate & Investment Bank we had record Global IB fees for the first half of the year, maintaining our #1 rank year-to-date. Commercial Banking revenue grew 11%, with particular strength in investment banking and treasury services, as well as solid loan growth. Our Asset & Wealth Management business continued to perform well with positive net long-term and liquidity inflows and continued loan growth." Dimon concluded: "Our strong, diversified franchise generates significant capital to invest in technology, bankers, products and markets. This quarter alone we announced new card products, the national rollout of our all-mobile bank, Finn, new branches in the Washington D.C. area, and plans for a more significant investment in China. We were also pleased to announce our new capital distribution plan, which includes a meaningful increase in dividends and repurchases. Our highest and best use of capital is to reinvest it in the growth of our clients around the world. We are confident that we will continue to drive long-term value for our clients, communities and shareholders."

06:50 EDT JPMorgan reports Q2 FICC sales & trading revenue $3.45B

06:49 EDT JPMorgan reports Basel III common equity Tier 1 capital of $185B, ratio of 11.9% - Firm SLR of 6.5%.

06:35 EDT Wabco signs first major steering system deal in India - WABCO (WBC) announced its first major steering system deal in India following its September 2017 acquisition of U.S.-based R.H. Sheppard, a key supplier of industry-leading steering technologies for commercial vehicles. Demonstrating WABCO's strong commitment to expand and to globalize its steering business beyond the U.S., this latest supply agreement with Tata Motors (TTM) in India represents an important first milestone in delivering leading steering solutions to customers internationally. As a full systems tier one supplier to Tata Motors, WABCO is equipping the manufacturer with its hydraulic power steering systems, helping them to meet increasing demand for new heavy-duty trucks locally following recent legislation changes to restrict axle weight loads. WABCO's globalized integrated supply chain, local engineering expertise and ability to rapidly respond to Tata Motors' requirements, are helping ensure this original equipment manufacturer's continued success as India's commercial vehicle market leader.

06:31 EDT ExOne names Douglas Zemba as CFO and Treasurer - The ExOne Company announced that it has elected Brian Smith as Senior Vice President and Douglas Zemba as CFO and Treasurer. Zemba served as ExOne's Chief Accounting Officer and Assistant Treasurer since March 2013, with responsibility for the company's global accounting and financial reporting. He joined ExOne in January 2013 as Director of Finance, shortly before the company's initial public offering in February 2013. Previously, Zemba was a Senior Manager in the Assurance practice of PricewaterhouseCoopers LLP

06:27 EDT Frontline announces termination of long term charter-in contracts of three VLCCs - Frontline announced that Frontline Shipping Limited has agreed with Ship Finance International Limited to terminate the long term charters for three very large crude carriers; Front Page, Front Serenade and Front Stratus upon the sale and delivery of the vessels by Ship Finance to an unrelated third party. Frontline has agreed to a total compensation payment to Ship Finance of $10.125M for the termination of these charters, which will be paid by Frontline in the form of three promissory notes, and Frontline and FSL will be released from all of their other respective obligations in relation to these vessels. These transactions are expected to complete during the third quarter of 2018.

06:06 EDT New York REIT CEO steps down, sells Viceroy Hotel per liquidation plan - New York REIT, which is liquidating and winding down pursuant to a plan of liquidation, announced that it has entered into a contract to sell the Viceroy Hotel located in New York, New York for $41M to an unaffiliated third party. The consummation of the sale is subject to customary closing conditions for sales of leasehold hotel properties located in New York, New York. The closing is expected to occur by the end of Q3. Once the sale of the Viceroy Hotel is complete, the company will have sold all of its properties except for its remaining 50.1% interest in Worldwide Plaza. The company also announced that Wendy Silverstein has decided to step down as CEO, President, member of the board and as an officer or manager of all NYRT's subsidiaries and affiliated entities. John Garilli will assume the responsibilities of the CEO and president and will also continue as the company's CFO. In addition, the company's advisory agreement with Winthrop REIT Advisors will remain in full force and effect.

05:14 EDT Parker Aerospace signs five-year master distributor agreement with Aviall - Parker Aerospace, a business segment of Parker Hannifin (PH), announced that its Aircraft Wheel & Brake Division, or AWBD, has signed a five-year master distributor agreement with Aviall for its Cleveland Wheels & Brakes product line. Aviall will forecast, warehouse, and market through its network, including Parker AWBD's former network of direct distributors. Aviall, which is headquartered in Dallas, is a wholly owned subsidiary of Boeing (BA), supporting both commercial and defense business units within Boeing.