Stockwinners Market Radar for July 20, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:42 EDT Freeport McMoRan CAO Michael Arnold to retire - In a regulatory filing, Michael Arnold, executive VP and Chief Administrative Officer, or CAO, notified Freeport McMoRan of his plans to retire effective December 31.

17:15 EDT Oaktree Capital reports 11.8% stake in StoneMor Partners

17:00 EDT Intracoastal Capital reports 9.99% passive stake in ReShape Lifesciences

16:38 EDT Luxor Capital reports 7.7% passive stake in Retail Value

16:33 EDT CarMax chairman sells 37,500 common shares - In a regulatory filing, CarMax chairman Thomas J. Folliard disclosed the sale of 37,500 common shares of the company at a price of $77.37 per share.

16:29 EDT CarMax chairman seslls 37,500 common shares - In a regulatory filing, CarMax chairman Thomas J. Folliard disclosed the sale of 37,500 common shares of the company at a price of $77.37 per share.

16:23 EDT J.C. Penney chief customer officer McFarland to leave company - According to a regulatory filing, on July 18, 2018, JC Penney executive Vice President and chief customer officer Joseph M. McFarland notified the company that he will be leaving the company, effective August 1, 2018.

16:12 EDT PTAB rules in favor of Mylan to allow Restasis challenge to proceed - Mylan (MYL) announced that the U.S. Court of Appeals for the Federal Circuit affirmed the decision of the U.S. Patent Trial and Appeal Board, PTAB, which found that tribal sovereign immunity cannot apply to prevent inter partes review proceedings. Today's decision allows Mylan's IPR challenges to Allergan's (AGN) Restasis patents to proceed. In a move admittedly designed to protect the Restasis(R) patents from cancellation by the PTAB, Allergan assigned the rights of six patents to the Saint Regis Mohawk Tribe. The Tribe then moved to dismiss the proceedings, arguing that its tribal sovereign immunity prevented the PTAB from reviewing the patents. Mylan CEO Heather Bresch commented, "This win is a victory in our ongoing efforts to stop patent abuses by brand companies and to help drive access to more affordable medicine. Today's ruling reaffirms that Allergan's attempt to leverage the Saint Regis Mohawk Tribe for patent protection represents another inappropriate tactic to delay the availability of generic medicines for patients who need them. Mylan will continue to do its part to fight these types of abuses and to restore the careful balance between innovation and access that is so important to ensuring a sustainable U.S. healthcare system."

16:06 EDT Jones Energy names Carl Giesler, Jr. CEO - Jones Energy announced that its board of directors has hired Carl F. Giesler, Jr. as the company's new Chief Executive Officer effective July 23, 2018. Prior to joining the company, Giesler served since September 2014 as the Chief Executive Officer and a Director of Glacier Oil & Gas Corp and its predecessor companies.

15:18 EDT TCF Bank enters BFCP settlement with CFPB to resolve litigation - According to a regulatory filing, TCF Financial said that its wholly-owned subsidiary TCF National Bank entered into a Stipulated Final Judgment and Order with the Bureau of Consumer Financial Protection, formerly known as the Consumer Financial Protection Bureau, to resolve the BCFP's outstanding litigation captioned Consumer Financial Protection Bureau v. TCF National Bank related to TCF Bank's opt-in practices, and has entered into a Consent Order and a Consent Order For a Civil Money Penalty and related stipulations with the Office of the Comptroller of the Currency to resolve related regulatory issues with the OCC. The Consent Agreements provide, among other things, for TCF Bank to submit a restitution plan to the BCFP and OCC pursuant to which TCF Bank will pay restitution in the total amount of $25M to certain current and former customers of TCF Bank who opted-in to TCF's overdraft service between January 1, 2010 and December 31, 2013 and who paid overdraft fees to TCF Bank. It also requires a notice to certain customers opted-in to overdraft service reminding them of their current opt-in choice. The Consent Agreements also provide that TCF Bank shall pay $5M in civil money penalties, $3M of which shall be paid to the OCC and $2M of which shall be paid to the BCFP. In addition, TCF Bank expects to incur approximately $2M in administrative costs related to the administration of the restitution plan required under the Consent Agreements. The financial impact of the Consent Agreements will be reflected in TCF Financial Corporation's second quarter results.

14:24 EDT Sen. Schumer: Trump's backtrack on ZTE example of 'being weak' - Top Senate Democrat Chuck Schumer tweeted that the Trump administration's "backtrack" on China's ZTE Corp. is another example of the president "being weak in the face of another nation's leader while the GOP just follows along." Schumer added that Trump has "once again broken his core promise to be tough on China simply to please President Xi & he got nothing in return."

13:47 EDT LaSalle Hotel confirms receipt of letter from Pebblebrook Hotel - LaSalle Hotel Properties (LHO) confirmed that it received a letter from Pebblebrook Hotel Trust (PEB) on July 20, reconfirming its previously announced proposal to acquire LaSalle in a transaction with consideration of 0.92 common shares of Pebblebrook per common share of LaSalle, with the option for LaSalle shareholders to elect to receive cash up to a maximum of 20% in aggregate of the consideration, subject to pro ration. On May 21, LaSalle entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone will acquire all outstanding common shares of beneficial interest of LaSalle for $33.50 per share in an all-cash transaction valued at $4.8B. Although LaSalle's board previously determined that the Pebblebrook proposal did not constitute, and could not reasonably be expected to lead to, a "Superior Proposal" as defined in the Blackstone merger agreement, the board will carefully review Pebblebrook's letter to determine the course of action that it believes is in the best interest of the company's shareholders. The board has not changed its recommendation of the existing transaction with Blackstone and expects to respond to Pebblebrook's letter in due course. LaSalle shareholders are advised to take no action at this time.

13:39 EDT F5 Networks names Sprint CEO Michel Combes to board - F5 Networks (FFIV) announced the appointment of Michel Combes, CEO of Sprint (S), to its board of directors.

13:17 EDT Amazon announces new fulfillment center in Spokane - Amazon.com announced plans to open in Spokane its first fulfillment center in Eastern Washington, creating more than 1,500 full-time jobs with benefits starting on day one. Amazon currently employs more than 50,000 people across the state at its headquarters in Seattle and facilities supporting customer fulfillment in DuPont, Kent and Sumner. The company has invested more than $37B in Washington State, including infrastructure and compensation to its teams from 2011-2017. Amazon employees at the more than 600,000-square-foot fulfillment center will work alongside Amazon Robotics to pick, pack and ship items to customers such as games, housewares, school supplies and pet toys.

13:06 EDT Box Office Battle: 'Mamma Mia,' 'Equalizer' sequels hit theaters - Opening this weekend and expected to take the top two spots at the box office are Comcast (CMCSA, CMCSK) subsidiary Universal's "Mamma Mia! Here We Go Again" and Sony's (SNE) "The Equalizer 2." The "Mamma Mia" sequel, a musical that is opening at more than 3,300 theaters, is expected to domestically earn in the range of $35M-$40M. Action thriller "The Equalizer 2," starring Denzel Washington, is expected to open in the $25M-$30M range. In its second weekend at theaters, Sony's "Hotel Transylvania 3: Summer Vacation," the third film in the animated series starring the voices of Adam Sandler and Selena Gomez, is expected to bring in an additional $25M-$26M. Disney (DIS) Marvel Cinematic Universe film "Ant-Man and the Wasp," starring Paul Rudd and Evangeline Lilly as the titular superheroes, is expected to earn around $15M in its third weekend at theaters. Other publicly traded companies in filmmaking include 21st Century Fox (FOX, FOXA), AT&T (T), Lionsgate (LGF.A, LGF.B), and Viacom (VIA, VIAB).

13:04 EDT SJW, Connecticut Water file new application for approval of merger of equals - SJW Group (SJW) and Connecticut Water Service (CTWS) announced that on Wednesday, July 18, 2018 they submitted a new application for the approval of their merger of equals, with the Connecticut Public Utilities Regulatory Authority. In their application, the companies detail the specific benefits of the transaction and how it will serve the public interest. Among the commitments made in the application, the companies indicate that there will be no changes to customer rates nor any job cuts or employee layoffs as a result of the merger of equals. Connecticut Water Company will maintain its headquarters in Clinton, Connecticut and keep the local leadership teams and employees that have successfully delivered on commitments to service and reliability for the customers and communities served. On June 19, 2018, the Company withdrew the application that was originally submitted to PURA as Connecticut Water conducted a go-shop process which allowed Connecticut Water to actively solicit proposals for an alternative merger, acquisition or other strategic transaction involving the Company, as authorized by a May 30, 2018 amendment to the merger agreement. The go-shop process concluded on July 14, 2018 with no superior proposal received. Both Connecticut Water and SJW boards have reaffirmed the value and benefits of the merger of Connecticut Water and SJW Group and are moving forward to seek regulatory approval from the Authority. The application is largely the same as that which was originally filed with PURA in May, with updates to reflect any SEC filings or merger related activities since that date. Both companies' board of directors believe that the merger of equals is a unique opportunity that will provide benefits for customers, employees and the communities they serve. The transaction remains subject to customary closing conditions and approvals, including the approval of the issuance of shares and the adoption of the amendment to SJW's certificate of incorporation by SJW Group stockholders, the approval of the merger agreement by Connecticut Water shareholders, the approvals of the PURA and the MPUC, and pre-approvals of license transfers by the Federal Communications Commission. The application for approval is pending in Maine. On April 30, 2018, SJW Group and Connecticut Water announced that the Federal Trade Commission has granted early termination of the Hart Scott Rodino waiting period for the companies' merger of equals.

12:55 EDT Esterline jumps 7% on report of sale exploration - Shares of Esterline Technologies jumped after Dow Jones, citing sources, said the company is exploring a potential sale. The stock is up 7%, or $5.45, to $80.90 in midday trading.

12:33 EDT Bayer to voluntarily discontinue U.S. sales of Essure for 'business reasons' - Bayer said it has made a "business decision" to voluntarily discontinue sales and distribution of the Essure System for Permanent Birth Control in the United States after December 31, 2018. This decision is based on a decline in U.S. sales of Essure in recent years and the conclusion that the Essure business is no longer sustainable, the company said. Essure is the only FDA-approved non-incisional form of permanent birth control. "The benefit-risk profile of Essure has not changed, and we continue to stand behind the product's safety and efficacy, which are demonstrated by an extensive body of research, undertaken by Bayer and independent medical researchers, involving more than 200,000 women over the past two decades," Bayer added. Several factors have contributed to declining interest in Essure among women in the U.S., including decreased use of permanent contraception overall, increased reliance on other birth control options, such as long-acting reversible contraceptives, and inaccurate and misleading publicity about the device, according to the company. Bayer has informed the U.S. Food and Drug Administration of the company's decision. The FDA has maintained for several years that the benefits of Essure outweigh its risks. Bayer is also informing healthcare providers directly of the business decision to discontinue sales of Essure. Bayer will continue to enroll patients in the Essure postmarket surveillance study and will work closely with the FDA to ensure appropriate follow up. Bayer will also continue to fully comply with its other regulatory responsibilities regarding Essure.

12:00 EDT Diplomat Pharmacy falls -8.9% - Diplomat Pharmacy is down -8.9%, or -$2.21 to $22.72.

12:00 EDT Skechers falls -23.2% - Skechers is down -23.2%, or -$7.71 to $25.54.

12:00 EDT Gol Linhas rises 11.7% - Gol Linhas is up 11.7%, or 77c to $7.33.

11:25 EDT Hill International to provide project management services for Brazilian resort - Hill International announced it was awarded a contract by Gremi International to provide project and construction management services for the $511M Eco Estrela Resort in northeastern Brazil. This investment is the first phase of a total project estimated at $2B. The project, in support of Brazil's growing tourism industry, features 4 miles of beachfront property with 191 villas operated by Six Senses Hotels Resorts Spas, a hospitality real estate company specializing in resort destinations incorporating natural surroundings. During this three-year contract, Hill will provide project and construction management support for pre-construction and construction with a focus on minimizing risk, addressing challenges, and coordinating budgets and schedules.

11:22 EDT SEC says Deutsche Bank to pay nearly $75M for improper handling of ADRs - The Securities and Exchange Commission announced that two U.S.-based subsidiaries of Deutsche Bank AG will pay nearly $75M to settle charges of improper handling of "pre-released" American Depositary Receipts, or ADRs. "The SEC's actions involving pre-released ADRs have revealed industry-wide abuses," said Stephanie Avakian, Co-Director of the SEC Enforcement Division. "Failures at each institutional link in the chain of these transactions, from depositary bank to broker-dealer, left the markets for those ADRs ripe for potential abuse at the expense of ADR holders."

10:53 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. BLACKROCK LOOKS AT BLOCKCHAIN: BlackRock (BLK) Chief Executive Officer Larry Fink said that the company has assembled a working group to evaluate blockchain technology and cryptocurrencies such as bitcoin, though he cautioned that he does not see massive investor demand, Reuters reported Monday. 2. MASTERCARD WINS BLOCKCHAIN PATENT: Mastercard (MA) has secured a patent to protect a method that would manage "fractional reserves of blockchain currency," CNBC reported Tuesday. While no products have yet been brought to market, the technology could speed up blockchain transactions by enabling cardholders to instantly pay for things on their credit card with a fraction of their cryptocurrency. 3. COINBASE EXPLORES ADDITIONAL ASSETS: Coinbase said in a July 13 blog post that it is exploring the addition of assets Cardano, Basic Attention Token, Stellar Lumens, Zcash, 0x. "Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading...As part of the exploratory process, customers may see public-facing APIs and other signs that we are conducting engineering work to support these assets." In addition, Bloomberg reported Monday that Coinbase said it received approval from the U.S. Securities and Exchange Commission for its acquisitions of Keystone Capital, Venovate Marketplace and Digital Wealth allowing it to offer so-called security tokens. However, Coinbase walked back those comments, saying the "SEC was not involved in the approval process," Bloomberg reported Tuesday. 4. KODAK CANCELS BITCOIN MINER: Kodak (KODK) has quietly canceled its branded bitcoin miner, KashMiner, The Next Web reported Tuesday. The KashMiner was supposed to be a machine you could "hire" for an up-front fee of roughly $3,500 that would mine bitcoin and net a user $375 every month in passive income over two years, but the KashMiner just appears to be a licensing deal gone wrong as Kodak denied it that it installed machines at its headquarters. 5. "SHARP DECLINE" IN MINING: On Wednesday, Citi analyst Atif Malik says his recent supply chain checks indicate discrete graphics gaming demand is expected to remain sluggish through the September quarter due to a "sharp decline" in mining related demand on falling cryptocurrency prices, channel distributors and partners waiting for Nvidia's (NVDA) new Turing gaming card launch in the October quarter, and weak gaming console sales at Microsoft (MSFT) offset by the Nintendo (NTDOY) Switch. He thinks the stock can selloff in the near-term on weaker than expected graphics commentary from TSMC (TSM), who reports on July 19, and AMD (AMD), who reports on July 25. CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices and Nvidia in select research. Overstock (OSTK), DPW Holdings (DPW), Kodak , Seven Stars Cloud (SSC), 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 rose about 19.4% this week to $7,475 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.

10:41 EDT Clinical trials database shows termination of Geron's imetelstat study - Geron's study of imetelstat sodium in treating younger patients with recurrent or refractory brain tumors has been terminated, according to an update on ClinicalTrials.gov. The termination is due to "several intracranial hemorrhages and recommendation by the PBTC DSMB," or Pediatric Brain Tumor Consortium of the Data and Safety Monitoring Board. Shares of Geron are down 6c to $3.42 in trading. Reference Link

10:22 EDT Cleveland-Cliffs says to consider share buyback, special dividend - Says to consider share buyback, special dividend, recurring dividend "not too far in the distance."

10:16 EDT Cleveland-Cliffs: Tax reform driving industry resurgency

10:12 EDT Cleveland-Cliffs sees sale of Asia-Pacific iron ore unit closing this quarter

10:00 EDT Diplomat Pharmacy falls -7.4% - Diplomat Pharmacy is down -7.4%, or -$1.84 to $23.09.

10:00 EDT Skechers falls -25.9% - Skechers is down -25.9%, or -$8.62 to $24.63.

10:00 EDT Banco Bradesco rises 7.1% - Banco Bradesco is up 7.1%, or 48c to $7.21.

09:59 EDT Wipro sees Q2 IT Services revenue $2.009B-$2.049B

09:55 EDT MGM Resorts says 'well-positioned' in Japan - MGM Resorts International (MGM) said the passage of Japan's Integrated Resort Implementation Act opens the possibility to drive significant growth in sustainable travel and tourism -- particularly from international segments. Jim Murren, Chairman & CEO of MGM Resorts, commented that, "The process has been very deliberate and transparent. We appreciate the high level of social responsibility reflected throughout the process by creating one of the most comprehensive bills of its kind anywhere in the world. MGM is proud to have provided academic research and economic analysis as well as facilitating numerous study sessions with experts from around the world. Today's passage allows us to advance our relationships with key stakeholders and together create a coalition of Japanese business partners who will collectively define a vision for a uniquely Japanese, world-class integrated resort." MGM Resorts has a full-time development team in Japan and for the past four years has been engaged in discussions in Japan's cultural and business communities. The company believes it is well-positioned in Japan and has been preparing for this possibility by becoming immersed in Japanese culture to better its understanding of Japan's unique history and heritage. MGM Resorts has also embarked on enhancing its cultural commitment to Japan in the United States through the sponsorship of two world premiere Kabuki events with the famous Shochiku entertainment company and by showcasing established and emerging Japanese artists in the company's art collections across the country.

09:30 EDT General Electric says looking 'constantly, aggressively' at costs

09:23 EDT Corbus Pharmaceuticals receives FDA orphan drug designation for lenabasum - Corbus Pharmaceuticals Holdings announced that the U.S. Food and Drug Administration has granted Orphan Drug Designation to lenabasum, its novel, synthetic oral endocannabinoid-mimetic drug, for the treatment of dermatomyositis. The FDA Orphan Drug Designation program provides a special status to drugs and biologics intended to treat, diagnose or prevent diseases and disorders that affect fewer than 200,000 people in the U.S. This designation provides for a seven-year marketing exclusivity period against competition, as well as certain incentives, including federal grants, tax credits and a waiver of PDUFA filing fees.

09:14 EDT Aqua America increases dividend 7% to 21.9c - The board of Aqua America declared a quarterly cash dividend of 21.9c per share, payable Sept. 1 to all shareholders of record on August 17. The September dividend will represent a 7% increase.

09:12 EDT General Electric says Power business problems are 'multi-year fix'

09:10 EDT Natural Health Trends says 'unaware' of investigation following allegation - Natural Health Trends issued the following statement in response to an allegation made against the company through an online posting from July 19, 2018. "It has been brought to our attention that a Chinese website cited an anonymous source alleging that we are under investigation by a provincial police department in China. We are unaware of such an investigation," commented Chris Sharng, president of Natural Health Trends. "Should we learn of any material information regarding this allegation, we will promptly notify the investment community."

09:06 EDT AT&T's Band 14 spectrum added to over 2,500 sites as part of FirstNet platform - AT&T has been actively deploying public safety's Band 14 spectrum as part of its FirstNet build. The buildout will be validated by the First Responder Network Authority. So far, Band 14 has been added to more than 2,500 sites across the country, with the process for 10,000+ more currently underway. FirstNet is a nationwide public safety communications platform dedicated to first responders, built with AT&T in public-private partnership with the FirstNet Authority.

09:06 EDT Sigma Designs announces plan for initial distribution of $6.00 per share - Sigma Designs announced that its Board of Directors has approved an initial distribution of $6.00 per share to its shareholders of record as of the close of business on July 31, 2018. The amount is based on a total of approximately 40M shares outstanding. The distribution will be initiated on August 14, 2018. This distribution will be made in accordance with the Company's previously announced voluntary Plan of Liquidation and Dissolution that was approved by its shareholders at a special meeting of shareholders held on April 17, 2018. The Company expects to make at least one additional distribution to shareholders as it continues to execute on the Liquidation Plan. The timing and amount, if any, of any subsequent distributions will be dependent upon a number of factors, including, but not limited to, claims made by vendors, customers, or other parties, the Company's ability to defend and settle those claims, final tax amounts for the Company and its various subsidiaries, wind down expenses, and the establishment of any necessary reserve amounts in connection with the final dissolution. "This initial distribution of approximately $240M is within the range for total aggregate distributions of between $235M to $255M that we have previously communicated to shareholders," said Elias Nader, Sigma's interim president, CEO and CFO. "After paying this initial distribution, we believe we will have approximately $15M to $20M in cash and cash equivalents remaining to pay further wind-down related expenses and satisfy potential claims. To the extent that these funds are not exhausted, we expect to use residual funds to make further distributions to our shareholders. We believe that our total aggregate distributions, which includes this initial distribution, will fall within the range of $240M and $255M, with the expected share count to be approximately 40M shares."

09:04 EDT Pratt & Whitney GTF engine orders exceed 2,000 orders over past 12 months - Pratt & Whitney, a division of United Technologies, announced that in the past 12 months it has received more than 2,000 new GTF engine orders and commitments, including options and spares, from 22 customers.

09:02 EDT Equifax names Paulino do Rego Barros Jr. as President of USIS - Equifax has named Paulino do Rego Barros Jr. to serve as President of United States Information Solutions, replacing Trey Loughran who has announced he is leaving the company to pursue a new opportunity. Prior to serving as interim CEO, Barros led the company's Asia-Pacific business, which includes the largest acquisition in Equifax's history - Veda, the leading provider of credit information and analysis in Australia and New Zealand.

08:51 EDT VF Corp. says big three brands increased 21% - Says Vans brand outgrowing performance targets. Says international growth was led by 30% growth in China. Says Q1 revenue was stronger than expected. Says big three brands increased 21%. Sees outdoor segment growth of 6%-8% in FY19. Sees active segment growth of 13%-14%. Sees work segment up 35%. Sees jeans about flat. Sees Vans brand up 15%. Also sees no change to North Face growth 6%-8% or Timberland growth 2%-3%. Comments taken from Q1 earnings conference call.

08:47 EDT Trump: China, EU 'manipulating currencies,' while U.S. raising rates - President Donald Trump tweeted: "China, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day - taking away our big competitive edge. As usual, not a level playing field..." Reference Link

08:42 EDT General Electric says expects expanding Aviation margins in 2018

08:38 EDT General Electric says 'materially shrinking' GE Capital - Says "essentially done" with $20B of planned dispositions. Says Aviation market continues to be "very strong." Says "meeting or beating plan" on all businesses except Power. Sees "significant opportunities" in Europe and Asia. Comments from Q2 earnings conference call.

08:33 EDT Sellas Life Sciences receives Fast Track designation for galinpepimut-S - Sellas Life Sciences announced that the FDA has granted Fast Track designation to the company's lead asset, galinpepimut-S, or GPS, for the treatment of multiple myeloma, or MM. GPS is licensed from Memorial Sloan Kettering Cancer Center and targets the Wilms Tumor 1, or WT1, protein, which is present in an array of tumor types. The company reported final clinical and immunological data from a Phase 2 clinical trial for GPS in the treatment of high-risk multiple myeloma at the 44th Annual European Society for Blood and Marrow Transplantation, or EBMT, Meeting on March 19, 2018. The FDA's Fast Track program facilitates the development of drugs intended to treat serious conditions that have the potential to address unmet medical needs. A product candidate with Fast Track status is afforded greater access to the FDA for the purpose of expediting the product candidate's development, review and potential approval. For a product candidate with Fast Track designation, the FDA may consider sections of its Biologics License Application for review on a rolling basis before the complete application is submitted if relevant criteria are met.

08:13 EDT State Street says had 'solid' fee revenue growth of 6% in Q2 - The bank noted solid fee revenue growth of 6% in the quarter, driven by market appreciation, new business and trading activity, as well as strong net interest income growth of 15% from higher U.S. interest rates and disciplined liability pricing. Active expense management calibrated to the revenue environment helped the bank achieve its goals.

08:08 EDT State Street cites1H new servicing business wins of approximately $1.5T - Beacon had 2Q18 net savings of ~$60M; State Street expects FY2018 savings of ~$200M, exceeding previously announced guidance of $150M. The next phase of efficiency opportunities related to organizational realignment and management delayering. Comments are from State Street's Q2 earnings conference call.

07:57 EDT Wipro, Alight Solutions announce strategic partnership - Wipro and Alight Solutions announced a long-term relationship. This strategic partnership will enable Alight to accelerate investment in consumer-facing technologies and services across its health, wealth and cloud businesses by leveraging Wipro's strengths in automation, machine learning and data analytics. Additionally, Wipro will acquire and take on responsibility for the services delivered from Alight's India locations. Alight has developed a rich set of technology and delivery capabilities across its India centers located in Gurgaon, Noida, Mumbai and Chennai.

07:47 EDT Yulong Eco-Materials receives notice of non-compliance from Nasdaq - Yulong Eco-Materials announced its receipt of a notification from NASDAQ on July 16, 2018, indicating that, as a result of the company not timely filing with the SEC its Annual Report on Form 6-K for the fiscal year ended December 31, 2017, the company failed to comply with the periodic filing requirements in NASDAQ Listing Rule 5250(c)(1). The company has 45 days until August 30, 2018, to submit to the NASDAQ listing qualifications staff, pursuant to the request set forth in the notification, a plan to regain compliance with NASDAQ's continued listing requirements. If the NASDAQ staff accepts the plan, it has discretion to grant up to 180 calendar days from the original non-compliance date of the Annual Report for the company to regain compliance. Further, the company is required to provide Nasdaq with the number of shares outstanding at the end of each quarter. The company confirms that it complied with this outstanding share confirmation requirement today via an electronic upload on the Nasdaq Listing Center website.

07:38 EDT Court rules in favor of Digital Ally in case against Axon Enterprise - Digital Ally (DGLY) is pleased to announce a significant development in its litigation against Axon Enterprise (AAXN). The company said, "In one of the most case-critical rulings of a patent litigation, the U.S. District Court for the District of Kansas issued its claim construction order, siding with Digital Ally across the board as to the meaning of certain claim terms disputed by the parties. In doing so, the Court rejected Axon's attempt to unduly narrow Digital Ally's patent rights and confirmed that Digital's patent claims are not indefinite, as Axon alleged. Not only does the Court's ruling side with Digital Ally substantively, it also triggers firm deadlines for the remainder of the litigation, rapidly moving the case toward trial. The parties must now complete fact discovery over the next 60 days and the schedule sets a January 4, 2019 deadline to file all dispositive and Daubert motions-the last substantive and evidentiary challenges before proceeding to trial. This leaves only pretrial matters to be conducted early in the new year before Digital Ally gets to present its case to a jury. In parallel litigation brought by Digital Ally against Enforcement Video, WatchGuard agreed to be bound by the Court's claim construction in the Axon case. Accordingly, WatchGuard can no longer pursue the invalidity arguments and attempts to narrow Digital Ally's patent rights rejected by the Court in the Axon case. The litigation against WatchGuard will now proceed toward trial on roughly a similar schedule as Axon."

07:35 EDT SAExploration announces entry of sale order and agreement for bridge financing - SAExploration Holdings announced that the United States Bankruptcy Court for the Southern District of Texas, Houston Division, entered an order approving the previously announced Asset Purchase Agreement, dated June 26, 2018, between its wholly owned subsidiary, SAExploration, and Geokinetics, and certain of its subsidiaries, debtors and debtors-in-possession, pursuant to which the company will acquire certain of GEOK's assets. In anticipation of the closing of the acquisition, which the Company expects to occur on or around July 24, 2018, SAE has reached an agreement in principal with certain of its existing lenders to fund $25M in aggregate principal amount of borrowings, which would be secured by the acquired assets. The Company intends to use the new borrowings to finance the purchase price of the acquisition of GEOK's assets and to pay related transaction costs. Upon the successful closing of this transaction, SAE will acquire certain of GEOK's assets, including equipment and machinery, seismic processing software and equipment and certain contracts with large exploration and production companies. .

07:33 EDT Qualcomm extends cash offer for NXP Semiconductors to July 25 - 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 25, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.

07:06 EDT Centene subsidiary awarded U.S. Military counseling contract - Centene's wholly-owned subsidiary, Health Net Federal Services, was awarded the next generation Military & Family Life Counseling Program contract through its MHN Government Services company. Under this contract, MHNGS will deploy licensed behavioral health counselors on assignments throughout the U.S., U.S. territories and countries where US military is deployed. The awarded contract is ten years, including a Base Period of one year and nine, one-year option periods.

07:02 EDT Bright Scholar to acquire 70% equity interest in art training institution - Bright Scholar has signed a share purchase agreement to purchase a 70% equity interest in a Zhejiang-based training art institute for a total consideration of RMB70M. Founded in 2009, the renowned institute specializes in art college entrance examination preparation for students. The target has two main campuses with over 600 students and has helped over 5600 students enroll in top art colleges during the past nine years. Its revenue and EBITDA for 2017 was RMB23.7M and RMB9M, respectively. With this strategic investment, the company expects to expand its service offerings in art training for its students and professional art training for its teachers, as well as expand its complementary businesses. The company targets to close the transaction on or before end of the 1Q19.

06:57 EDT VF Corp. CEO says 'we are executing well against our 2021 growth plan' - "VF's first quarter results were strong, driven by continued broad based acceleration across our core brands and platforms," said Steve Rendle, Chairman, President and CEO. "We are executing well against our 2021 growth plan and continuing on our journey to reshape the portfolio and transform VF into a purpose-led, performance driven, consumer-centric organization focused on and committed to delivering superior returns to shareholders."

06:55 EDT VF Corp. raises FY19 outlook

06:53 EDT Charles River Development confirms agreement to be acquired by State Street - Charles River Development announced a definitive agreement to be acquired by State Street. The acquisition, which is subject to regulatory approvals and customary closing conditions, is expected to be completed in the fourth quarter of 2018. The acquisition will combine Charles River's front and middle office Software as a Service capabilities with State Street's extensive front, middle and back office capabilities to deliver a comprehensive end-to-end interoperable Buy-Side platform.

06:48 EDT Baker Hughes says 'the macro outlook continues to be favorable' - "The macro outlook continues to be favorable. North American production is increasing as operators grow rig and well counts, and we are seeing signs of increasing international activity in some geomarkets. Our portfolio mix positions us well for short and long-term growth as the market improves and the next wave of customer projects come into view."

06:40 EDT Honeywell CEO says organic sales growth driven by aerospace - "Honeywell delivered another outstanding quarter with continued top-line growth, strong margin expansion, and double-digit earnings per share and free cash flow growth. Organic sales grew 6 percent, driven by continued strength in Aerospace; demand for Intelligrated warehouse automation solutions; and growth in residential thermal solutions, thermostats and ADI global distribution in our Homes business. We also saw continued robust short-cycle demand for our process automation solutions. The increased volumes, combined with our operational excellence initiatives, drove 60 basis points of segment margin expansion, above the high end of the guidance we provided in April. Our operational performance resulted in earnings per share2 (excluding separation costs and other items) of $2.12, up 18 percent, exceeding the high end of our guidance range," said Darius Adamczyk, chairman and CEO of Honeywell. "We generated approximately $1.7 billion of free cash flow (excluding separation costs) in the quarter, up 42 percent, with conversion3 of 108 percent, and we continued to put our strong balance sheet to work by repurchasing about $800 million in Honeywell shares in the second quarter. In the first half of the year, we repurchased approximately $1.7 billion in Honeywell shares. Given our strong second-quarter performance and confident outlook, we are raising our 2018 guidance. For the full year, we now expect organic sales growth to be 5 to 6 percent, segment margin expansion to be 40 to 60 basis points, earnings per share1 to be $8.05 to $8.15, and free cash flow4 to be $5.6 to $6.2 billion,Our software and Connected offerings continue to gain traction. Across our segments, Connected software sales have grown double-digits year-to-date. The portfolio transformation activities we announced last year are nearly complete, with the spin of our Transportation Systems business, Garrett, expected to be complete by the end of the third quarter, and the spin of our Homes business on track for completion by the end of the year. Our long-cycle orders and backlog grew 11 and 14 percent respectively, which positions us well for the rest of 2018 and into 2019. We are committed to delivering outstanding returns for our shareowners over the long term,"

06:36 EDT GE says 'substantially complete' on $20B+ of dispositions - Says Executing on structural cost out, with $1.1B year-to-date; additional $500MM+ actions at Corporate through 2020. Says 1H performance "in line" with expectations, with adjusted EPS of 35c, flat and adjusted Industrial FCF ($1.4B), +$1B. Says 1H trends continue to indicate gas power market less than30GW in 2018, says deals continue to be delayed. For Q2, reports Power revenue $7.579B, down 19% y/y, Renewable Energy revenues $1.653B, down 29%, Aviation revenue $7.519B, up 13%, Healthcare revenue $4.978B, up 6%, Oil & Gas revenue $5.554B, Transportation revenue $942M, Lighting revenue $431M, GE Capital revenue $2.429B. Sees volume ramp in 2H in Renewables.

06:35 EDT Citizens Financial reports Q2 tangible book value per common share of $27.67 - Up 2%.

06:33 EDT Citizens Financial CEO says 'well-positioned to continue our momentum' in 2H18 - "We are pleased to report another quarter of strong earnings growth and meaningful improvement in return on tangible common equity," said Chairman and CEO Bruce Van Saun. "We continue to execute well, with strong balance sheet management and smart investments in fee-based product capabilities, as well as in technology applications, digital channels and data. We are well-positioned to continue our momentum in the second half, as we work hard towards building a great bank that delivers well for its stakeholders."

06:32 EDT Citizens Financial reports Q2 ROTCE 12.9% - Improved from 9.6% in second quarter 2017, and 11.7% in first quarter 2018.

06:27 EDT State Street reports Q2 net interest margin 1.46%

06:23 EDT State Street says Beacon to deliver $200M in savings in 2018 - Up from prior guidance of $150M.

06:08 EDT WhatsApp says to limit forwarding to stop spread of fake news - WhatsApp will drastically limit forwarding across the globe to stop the spread of fake news, following violence in India and Myanmar, the social messaging service said in a blog post. It said: "We're launching a test to limit forwarding that will apply to everyone using WhatsApp. In India - where people forward more messages, photos, and videos than any other country in the world - we'll also test a lower limit of 5 chats at once and we'll remove the quick forward button next to media messages. We believe that these changes - which we'll continue to evaluate - will help keep WhatsApp the way it was designed to be: a private messaging app. We are deeply committed to your safety and privacy which is why WhatsApp is end-to-end encrypted, and we'll continue to improve our app." Reference Link

06:05 EDT Regions Financial reports Q2 net interest margin 3.49%, up 3 basis points

06:02 EDT State Street to acquire Charles River Development for $2.6B in cash - State Street announced that it has entered into a definitive agreement to acquire Charles River Systems, a premier provider of investment management front office tools and solutions. Under the terms of the agreement, State Street will purchase Charles River Development in an all cash transaction for $2.6B. The acquisition, which is subject to regulatory approvals and customary closing conditions, is expected to be completed in the fourth quarter of 2018. When integrated with State Street's existing front, middle and back office capabilities, Charles River Development's front-office systems will enable State Street to deliver a global front-to-back platform for asset managers and asset owners that will be unique in the investment servicing industry. This interoperable platform, supported by deep enterprise data management capabilities, will enable investment workflows, provide advanced data aggregation, analytics and compliance tools, and connect and exchange data with other industry platforms and providers. The $2.6B purchase price is expected to be financed through the suspension of approximately $950M of share repurchases in the second quarter of 2018 and during the remainder of 2018, and, subject to market conditions, the remainder of the purchase price through the issuance of equity, with approximately two-thirds of such equity expected to be in the form of common stock and one-third in preferred stock. State Street yesterday announced an increase to its quarterly common stock dividend for the third quarter of 2018 to 47c per share, an increase of 12% over the second quarter of 2018. The acquisition is expected to be accretive to earnings in 2020, excluding acquisition and restructuring costs and based on anticipated revenue growth and cost synergies. The Charles River Development acquisition was included in CCAR as a potential strategic change and the Fed granted a conditional non objection.

06:00 EDT State Street to acquire Charles River Development for $2.6B

05:19 EDT TechnipFMC awarded contract for grassroot HGU by HPCL in India - TechnipFMC has been awarded a substantial contract by the state-owned Hindustan Petroleum Corporation, or HPCL, for a grassroot Hydrogen Generation Unit, or HGU. The project is part of the brownfield expansion for HPCL's Visakh Refinery Modernization Project located in Visakhapatnam, in the state of Andhra Pradesh in India. The contract covers project management, technology licensing, preparation of basic design and engineering package, as well as detailed engineering, procurement, construction, commissioning, and performance guarantee test run on an LEPCC basis. For TechnipFMC, a "substantial" contract is ranging from $250M to $500M.