Stockwinners Market Radar for July 25, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

21:08 EDT USA Technologies launch EMV payment solution for Australia vending market - USA Technologies and ADVAM, a global leader in the supply of gateway payment solutions to the vending and self-service markets, today announced a partnership which has resulted in the development and launch of a fully automated, EMV certified, cashless payment gateway and vending management solution to the Australian unattended retail market. USAT and ADVAM anticipate expanding USAT's more than 969,000 connections worldwide, to offer a turn-key, end-to-end cashless payment and vending management solution in Australia. USAT and ADVAM have selected the Ingenico iUC285 card readers to not only equip Australian vending operators with an EMV solution to accept both chip and magstripe, but also enable the use of digital payments such as Apple Pay, Google Pay, and NFC contactless capabilities.

20:31 EDT Spirit Airlines sees FY capacity up 22.7% y/y - Sees FY18 adjusted CASM ex-fuel down 3.5%-4% y/y. Sees FY effective tax rate 24% and total CapEx of $1.017B.

19:37 EDT Teck Resources announces Board chairman succession plan - Teck Resources announced today Dominic Barton has agreed to join its Board of Directors, effective September 1, 2018. Mr. Barton has been the Global Managing Partner of McKinsey & Company for the past nine years. He is the Chair of the Canadian Minister of Finance's Advisory Council on Economic Growth and the Chair of the Seoul International Business Advisory Council. He is also a Trustee of the Brookings Institution, a Rhodes Trustee, and an Adjunct Professor at Tsinghua University in Beijing. He is one of the founders and serves on the Board of FCLT Global and is a member of the Boards of Memorial Sloan Kettering in New York and the Asia Pacific Foundation in Canada. Mr. Barton graduated from the University of British Columbia with a BA Honors in economics and studied as a Rhodes Scholar at Brasenose College, Oxford University. Dr. Norman B. Keevil, Chairman of the Board of Teck, said that he will retire from that role on October 1, 2018, at which time Mr. Barton will replace him as Chairman. Also at that time, Norman Keevil III, who has been a director of the company since 1997, will become Vice-Chair of the Board.

19:00 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: PCM Inc (PCMI) up 19.1%... Xilinx (XLNX) up 9.2%... BioTelemetry (BEAT) up 8.6%... Qualcomm (QCOM) up 5.5% after earnings, NXP (NXPI) bid termination and $30B buyback... Citrix (CTXS) up 5.3%...Advanced Micro Devices (AMD) up 5.1%... Mondelez (MDLZ) up 3.6%... Varian Medical (VAR) up 2.9%... Legg Mason (LM) up 1.8%... Kraton (KRA) up 1.5%. DOWN AFTER EARNINGS: Facebook (FB) down 20.9%, Twitter(TWTR) down 4.6%, Snap (SNAP) down 3.7% in sympathy... Mohawk Industries (MHK) down 14.4%... Knight Swift (KNX) down 13.5%... Mattel (MAT) down 9.0%... PayPal (PYPL) down 5.9%... Allegiant Travel (ALGT) down 5.9%... QEO Resources (QEP) down 4.8%... Goldcorp (GG) down 4.2%.... Ford (F) down 3.7%... Las Vegas Sands (LVS) down 3.5%... Equifax (EFX) down 3.3%... Kirby Corp (KEX) down 3.2%... F5 Networks (FFIV) down 3.1%... Align Technology (ALGN) down 3.1%... Coeur Mining (CDE) down 2.9%...Graco (GGG) down 2.6%... Safe Bulkers (SB) down 2.6%... Barrick Gold (ABX) down 2.1%... Gilead (GILD) down 1.6%... Visa (V) down 1.6%... Helperich & Payne (HP) down 1.6%... Spirit Airlines (SAVE) down 1.0%. ALSO LOWER: Biogen (BIIB) down 11.9% after clinical update on BAN2401... Sarepta (SRPT) down 7.0% after its DMD gene therapy trial was put on hold... TAL Education (TAL) down 2.0% after bearish Muddy Waters report.

18:28 EDT Amazon Web Services makes new Amazon EC2 instances available - Amazon Web Services announced general availability of a new high frequency instance for Amazon Elastic Compute Cloud, as well as the next generation of memory optimized instances and memory optimized instances with local storage. z1d instances are designed for workloads requiring the highest single-threaded performance along with a large amount of memory - these are workloads such as electronic design automation, relational databases, and financial simulations. R5 and R5d instances deliver improved price-per-gigabyte for memory intensive applications, such as high performance databases, in-memory caches and databases, and big data analytics. "Many of our customers' applications depend on fast single-thread performance and high memory to process and manage large amounts of data," said Matt Garman, Vice President, Compute Services, AWS. "With z1d instances, we're delivering sustained all core frequency up to 4.0 GHz, the fastest of any cloud instance, which will decrease the number of cores required to run applications and speed time to market for product development. And, with R5 instances, we're providing customers more memory at a lower cost, along with a local storage option in R5d. With these new instance options, AWS continues to expand and enhance what was already the world's broadest and most capable set of compute services available today in the cloud."

18:21 EDT Edwards Lifesciences comments on CMS advisory panel - Edwards Lifesciences Corporation commented on the U.S. Centers for Medicare and Medicaid Services' advisory panel regarding evidence pertaining to procedural volume requirements for transcatheter aortic valve replacement programs: "Today's advisory panel meeting provided a review of current and possible future impacts of volume requirements on TAVR centers in the United States. In the absence of definitive evidence linking high volumes of procedures to high quality outcomes for TAVR patients, we continue to believe the best course of action is to focus on defined quality measures for both new programs and also those continuing to offer this life-saving, less-invasive therapy. Our priority is assuring that all people with heart valve disease have equitable access to all treatment options. The primary risk severe aortic stenosis patients face today does not come from complications during treatment - rather, it comes from not receiving treatment at all. We believe access to both TAVR and surgical valve replacement procedures should be thoughtfully expanded, based on the needs of the patient community, but restricted to programs that deliver high quality outcomes."

18:08 EDT BioCryst: Phase 2 APeX-1 trial results for BCX7353 published in NEJOM - BioCryst Pharmaceuticals announced that results from the Phase 2, APeX-1 clinical trial of BCX7353 for the prevention of attacks in patients with hereditary angioedema are published online in the July 26th issue of The New England Journal of Medicine. The APeX-1 trial was a double blind, randomized, parallel group, placebo-controlled Phase 2 dose ranging trial comparing the safety and efficacy of 28 days of once-daily BCX7353 treatment, at doses of 62.5 mg, 125 mg, 250 mg, and 350 mg, with placebo. The trial demonstrated that oral administration of BCX7353 at a dose of 125 mg or more resulted in a significantly lower rate of attacks compared with placebo. Significant benefits with respect to quality of life were observed in the 125 mg and 250 mg dose groups. Mild gastrointestinal symptoms were the principal side effect, particularly in the 250 mg and 350 mg BCX7353 dose groups. "We are extremely pleased to have these important results published in The New England Journal of Medicine," said Jon P Stonehouse, President and CEO of BioCryst. "We look forward to confirming the results from APeX-1 in our pivotal Phase 3 trial, APeX-2, which we expect to report out in the first half of 2019."

18:03 EDT Celanese increases prive for acetate tow materials in Middle East - Celanese will increase the price of all acetate tow grades sold in the Middle East by $1.00/kg effective on all orders shipped on or after August 1 or as contracts otherwise allow.

18:01 EDT Banner to acquire Skagit Bancorp in all-stock transaction - Banner and Skagit announced that they have entered into a definitive merger agreement pursuant to which Banner will acquire Skagit in an all-stock transaction, subject to the terms and conditions set forth therein. Under the merger agreement, Skagit will merge with and into Banner, and immediately thereafter Skagit Bank will merge with and into Banner Bank. The combined company will have approximately $11.4B in assets. Upon completion of the merger, Cheryl R. Bishop, Skagit's Chief Executive Officer, will join the Banner board of directors. Skagit Bank is a 60 year old community bank based in the North Sound region of the Pacific Northwest focused on developing and serving long term consumer and business clients. At June 30, 2018, Skagit Bank had assets of $922M, a diverse and high-quality loan portfolio of $599M, and a low-cost deposit base of $811M with 12 banking locations along the I-5 corridor from Seattle to the Canadian border.

17:51 EDT Ford sees FY18 revenue 'modestly higher' than 2017 - Sees FY18 effective tax rate 13%. Sees FY18 capital spending $7.5B. Says decline in wholesale volume result of China and Meridian disruption. Says Europe and China are notably challenged, but moving swiftly to streamline growth in those markets.

17:45 EDT Ford sees North America market EBIT margin trajectory supports 10% target - Still targeting 8% adjusted EBIT margin and high-teen ROIC by 2020. Lowered EPS guidance for FY18 was due to operations in Asia Pacific and Europe.

17:41 EDT TAL Education falls 2% afterhours following bearish Muddy Waters report

17:33 EDT Facebook sees OpEx, margin towards mid 30s percentage basis over next few years

17:30 EDT Qualcomm says it is at unusual window in the industry - Qualcomm (QCOM) says NXP Semiconductors (NXPI) termination will trigger termination payment of $2B. Says had good discussions with regulators in China about NXP. Says doesn't expect to be in next product launch for Apple (AAPL). Says if opportunity presents itself, it will be a supplier of Apple. Says seeking injunctive relief in China for patent litigation against Apple. Says it is a large player in automobile sector. Comments taken from Qualcomm's Q2 earnings conference call.

17:26 EDT Facebook sees FY18 CapEx roughly $15B - Says plans to continue to grow CapEx beyond 2018. Sees FY18 tax rate in mid-teens.

17:26 EDT SiteOne Landscape acquires Kirkwood Material Supply - SiteOne Landscape acquired Kirkwood Material Supply. Founded in 1983, Kirkwood serves the greater St. Louis market with eight locations focused on the distribution of hardscapes and nursery products to landscape professionals.

17:22 EDT Sleep Number sees mid-single digit sales growth in 2H18

17:20 EDT Mondelez up 3.6% after reporting Q2 earnings, giving FY18 guidance

17:18 EDT Home Bancshares increases dividend 9.1% - Home BancShares announced that its board has declared a regular 12c per share quarterly cash dividend payable September 5 to shareholders of record August 15. This cash dividend represents a 1c per share, or 9.1%, increase over the 11c cash dividend paid during Q2.

17:15 EDT SAExploration unit completes Geokinetics acquisition - SAExploration Holdings announced that its indirect wholly owned subsidiary SAExploration Acquisitions has completed the previously announced acquisition of substantially all of the assets of Geokinetics, including equipment and machinery, seismic processing software and equipment and certain contracts with large exploration and production companies.In connection with closing of the acquisition, SAE amended and restated its existing credit facilities and Acquisitions Sub entered into a new acquisition credit facility of approximately $23.4 million in aggregate principal amount of borrowings, secured by the acquired assets of GEOK, to fund the acquisition and to pay related transaction costs.

17:12 EDT O'Reilly up 1.5% after reporting Q2 results, giving Q3, FY18 guidance

17:11 EDT AMD up 6.5% after reporting Q2 results, Q3 guidance

17:10 EDT Barrick Gold backs FY18 gold production of 4.5M-5M ounces - Consolidated gold production guidance remains unchanged at 4.5M-5M ounces, at a cost of sales of $810-$850 per ounce, cash costs of $540-$575 per ounce, and all-in sustaining costs of $765-$815 per ounce. Sees FY18 capital expenditures $1.4B-$1.6B.

17:08 EDT Sleep Number says expects further sales momentum in 2H18 - Says brand awareness metrics at record highs. Comments from Q2 earnings conference call.

17:06 EDT Facebook says election ads will be archived, labeled, described - Says had another "solid" quarter. Says election ads will be archived, labeled, and described. Says systems found and removed thousands of fake accounts ahead of Mexico election. Says "making progress" in "fight against misinformation." Comments taken from Q2 earnings conference call.

17:04 EDT Oceaneering narrows FY18 adj. EBITDA view to $140M-$160M from $140M-$180M

17:02 EDT BancorpSouth raises quarterly dividend to 17c from 14c per share - The dividend is payable Oct. 1 to shareholders of record at the close of business on Sept. 14.

16:54 EDT ProAssurance promoting Dana Hendricks to CFO - ProAssurance Dana S. Hendricks will assume the role of CFO for the company effective September 1. Hendricks is currently the Senior VP of Business Operations for the Podiatry Insurance Company of America, a ProAssurance subsidiary. Hendricks joined PICA in 2001; prior to being promoted to her current position, she was the Vice President of Finance and Corporate Controller for PICA. Prior to her tenure at PICA, she held various finance and data analysis positions with American General Life & Accident Insurance Company.

16:52 EDT Biogen announces results from Phase 2 BAN2401 study - Eisai and Biogen announced detailed results from the Phase II study, Study 201, with BAN2401, an anti-amyloid beta, or Ass, protofibril antibody, in 856 patients with early Alzheimer's disease. Study 201 is a placebo-controlled, double-blind, parallel-group, randomized Phase II clinical study in 856 patients with mild cognitive impairment, or MCI, due to Alzheimer's disease or mild Alzheimer's dementia with confirmed amyloid pathology in the brain. Patients were randomized to five dose regimens, 2.5 mg/kg biweekly, 5 mg/kg monthly, 5 mg/kg biweekly, 10 mg/kg monthly and 10 mg/kg biweekly, or placebo. This study used a Bayesian Adaptive Randomization Design to automatically allocate newly enrolled patients into the study to treatment arms showing higher probability of efficacy based on the results of interim analyses. The study assessed changes from baseline to 18 months in biomarkers measuring the underlying disease pathophysiology, including changes in amyloid accumulated in the brain as measured by amyloid PET. The clinical endpoints of Alzheimer's Disease Composite Score, or ADCOMS, Alzheimer's Disease Assessment Scale-cognitive subscale and Clinical Dementia Rating Sum of Boxes were also assessed from baseline to 18 months of treatment. Through Bayesian interim analyses, the highest doses of 10 mg/kg monthly and 10 mg/kg biweekly were determined to be the treatment dosages with higher efficacy early in the trial, and as a result, the proportion of patients allocated to these treatment arms was greater. Following a regulatory request in July 2014, the allocation of APOE4 carriers to the 10 mg/kg biweekly treatment arm was restricted, resulting in fewer APOE4 carriers in this arm and more patients being allocated to the 10 mg/kg monthly treatment arm. BAN2401 demonstrated a dose-dependent reduction in amyloid plaques as measured by amyloid PET, and this reduction was statistically significant at all doses. At the highest dose of BAN2401, an analysis of amyloid accumulated in the brain using standardized PET as measured on the Centiloid scale showed an observed mean at baseline of 74.5 and at 18 months of 5.5. Using a Mixed-effects Model with Repeated Measures (MMRM), the mean reduction in amyloid load was 70 units, which was statistically significant. In amyloid PET image visual read, BAN2401 demonstrated a dose dependent conversion from amyloid positive to negative, and at the highest dose, 81% of patients converted from amyloid positive to negative at 18 months. Conventional statistical methods on predefined clinical endpoints at the 18 month final efficacy time point confirmed a dose-dependent slowing in cognitive decline from baseline on ADCOMS. The highest treatment dose of 10 mg/kg biweekly demonstrated a statistically significant slowing of clinical decline of 30% compared to placebo at 18 months. A statistically significant slowing of decline on ADCOMS was observed as early as 6 months as well as at 12 months. Dose-dependent slowing in cognitive decline from baseline on ADAS-Cog was also observed for BAN2401, with the highest treatment dose of BAN2401 demonstrating a significant slowing of clinical decline compared to placebo at 18 months. Furthermore, dose-dependent slowing in cognitive decline from baseline on CDR-SB was observed, surpassing the pre-specified difference of 25% over the duration of the study. At 18 months, slowing of clinical decline for the highest treatment dose of BAN2401 compared to placebo on CDR-SB was 26%. The rate of clinical decline for the placebo group was consistent with the results of research by the Alzheimer's Disease Neuroimaging Initiative in the United States. In a Bayesian analysis of ADCOMS at 12 months, the estimated probability that the highest dose of BAN2401 slows clinical decline more than placebo was 98%. While the criteria for early success at 12 months was pre-specified as an 80% or higher estimated probability of demonstrating a clinically significant difference from baseline compared to placebo, the actual probability for this criteria was 64% according to Bayesian analysis. BAN2401 demonstrated an acceptable tolerability profile through 18 months of study drug administration. The incidence rate of treatment-related adverse events was 26.5% for the placebo arm, 53.4% for the 10 mg/kg monthly treatment arm and 47.2% for the 10 mg/kg biweekly treatment arm. The most common treatment emergent adverse events were Amyloid Related Imaging Abnormalities, or ARIA, and infusion-related reactions. Incidence of ARIA-E was 9.9% at the highest treatment dose, and not more than 10% in any of the treatment arms. Incidence of ARIA-E in APOE4 carriers was 14.6% at the highest dose. Per protocol, all patients presenting with ARIA-E on MRI were discontinued in the study. The incidence rate of serious adverse events was 17.6% for the placebo arm, 12.3% for the 10 mg/kg monthly treatment arm and 15.5% for the 10 mg/kg biweekly arm.

16:43 EDT Sarepta: Phase 1/2a DMD Micro-Dystrophin Gene Therapy trial placed on hold - Sarepta Therapeutics has been notified by the Research Institute at Nationwide Children's Hospital that they have received a letter from the Food and Drug Administration on July 24, 24 stating that their Phase 1/2a Duchenne Muscular Dystrophy Micro-Dystrophin Gene Therapy Trial has been placed on clinical hold due to the presence of a trace amount of DNA fragment in research-grade third-party supplied plasmid. Preliminary in-vivo testing performed by the Research Institute indicates that the trace fragment does not result in protein expression and is quickly cleared.The Research Institute, working with Sarepta, has developed their action plan with immediate plans to submit for review by the FDA, which will include the use of GMP-s plasmid for the program. Subject to the FDA's acceptance of the action plan, Sarepta does not anticipate any material delay in dosing patients as originally planned by year-end 2018."Patient safety is our top priority at Sarepta as we know it is for Nationwide Children's Research Institute," stated Doug Ingram, Sarepta's president and chief executive officer. "We intend to rapidly respond to the FDA's clinical hold letter, including a commitment to the Agency to only use GMP-s plasmid. Independently, we will also request a meeting with the Agency to discuss the micro-dystrophin program with the goal of commencing a pivotal trial by year-end 2018."

16:42 EDT O'Reilly Automotive sees FY18 comparable store sales growth 2%-4%

16:38 EDT MPLX raises quarterly distribution 1.6% to 62.75c per unit - The distribution will be paid Aug. 14 to common unitholders of record as of Aug. 6.

16:37 EDT PerkinElmer's EUROIMMUN assays receive FDA clearance - PerkinElmer announced that its EUROIMMUN ANCA IFA and EUROPLUS Granulocyte Mosaic assays for use with EUROPattern microscope have received 510k clearance from the U.S. Food & Drug Administration FDA. The EUROIMMUN IFA Granulocyte assays, commonly referred to as ANCA Mosaic, are designed as indirect immunofluorescence tests for the qualitative or semi-quantitative determination of anti-neutrophil cytoplasmic antibodies of immunoglobulin class IgG in human serum. The EUROPLUS Granulocyte Mosaic EUROPattern assay allows for additional monospecific detection of anti-PR3, anti-MPO and anti-GBM IgG antibodies.

16:34 EDT Kraton sees FY18 adjusted EBITDA approximately $400M - "We continue to expect our full-year 2018 Adjusted EBITDA to be approximately $400 million. With regard to our 2018 debt reduction target, we now expect to reduce consolidated net debt by $75 - $100 million, including the impact of approximately $53 million of costs associated with our refinancing during the second quarter of 2018."

16:32 EDT Corporacion America Airport, ICD announces two business pacts - Corporacion America Airports and Investment Corporation of Dubai, the principal investment arm of the Government of Dubai, announced that they have entered into a share purchase agreement whereby CAAP will sell 25% of its wholly owned subsidiary Corporacion America Italia S.p.A. to ICD. CAAP and ICD have also entered into a Memorandum of Understanding to jointly pursue new opportunities in the airport sector in Italy, Eastern Europe excluding Russia, and the Middle East. The MOU aims to build upon CAAP's management capabilities and deep knowledge of the airport industry as well as ICD's unique access to financing and the capital markets. CAI is the controlling entity of Toscana Aeroporti S.p.A., a publicly traded Italian company which manages and holds the concessions for the Florence and Pisa airports in Italy. Since its initial public offering in February 2018, CAAP acquired an additional 11% ownership stake in TA, increasing its stake from 51% to approximately 62%. Following the closing of the Transaction, CAAP will have a 75% share ownership of CAI.

16:30 EDT Regions Financial raises quarterly dividend 56% to 14c per share - The dividend is payable on October 1, 2018, to stockholders of record at the close of business on September 7, 2018.

16:28 EDT Principal Financial urges holders reject 'mini-tender' offer by Baker Mills - Principal Financial Group announced that it has received notice of an unsolicited mini-tender offer by Baker Mills LLC to purchase up to 110,000 shares of Principal Financial Group, Inc. common stock from Principal shareholders. The offer represents approximately 0.04 percent of Principal's shares of common stock outstanding as of the July 23, 2018 offer date. Baker Mills' offer price of $44.00 per share is approximately 20 percent lower than the $54.69 closing price of PFG common stock on Nasdaq on July 23, 2018. This offer follows three recent similar offers by Baker Mills to purchase from certain PFG holders up to 50,000; 60,000; and 125,000, respectively, of PFG shares. These previous offers, which terminated on March 2, 2018, May 18, 2018, and July 9, 2018, resulted in the purchase by Baker Mills of 11,163 PFG shares, 40,525 PFG shares, and 121,832 PFG shares, respectively. "As with the prior offers by Baker Mills, Principal does not endorse Baker Mills' unsolicited mini-tender offer and recommends that shareholders do not tender their shares in response to Baker Mills' offer because the offer is, as was the case with the previous offers, at a price that is significantly below the current market value of PFG. Here, the July 23, 2018 closing common stock price of PFG was $54.69 per share."

16:24 EDT Extended Stay America invested $56.2M in capital expenditures during Q2 - The company invested $56.2M in capital expenditures during Q2. This included approximately $14.6M in capital expenditures for new hotel development and conversions and $14.9M in capital expenditures for IT projects. For the first half of 2018, the company invested $89.7M in capital expenditures.

16:23 EDT Ford says North America business 'remains strong' - Ford said in today's press release, "The North America business remains strong, with F-Series sales topping 236,000 units in the second quarter and on a record-setting pace through the first six months of the year. While production in the quarter was impacted by a fire at Meridian Magnesium Products of America, the Ford team worked swiftly with its partners to deploy creative solutions to restart impacted operations in just eight days to help restore supply."

16:20 EDT Spirit Airlines reports Q2 TRASM decrease of 6.8% - Total revenue per available seat mile, or TRASM, for Q2 decreased 6.8% compared to the same period last year. An increase in average stage length and the calendar shift of Easter contributed approximately 520 basis points to the company's Q2 TRASM decline. On a per passenger flight segment basis, total revenue for Q2 was $112.76, flat compared to Q2 last year. Non-ticket revenue per passenger flight segment increased 3.0% to $54.572 and fare revenue per passenger flight segment decreased 2.8% to $58.19.

16:18 EDT PayPal announces $10B stock repurchase authorization - PayPal announced today that its board of directors has authorized a new stock repurchase program, under which the company may repurchase up to $10 billion in outstanding common stock. This program will become effective after completion of the company's previously announced $5 billion stock repurchase program, of which $2.7 billion remained available as of June 30, 2018.

16:16 EDT Chiasma completes enrollment of MPOWERED trial - Chiasma announced it has successfully enrolled 135 acromegaly patients into the six-month run-in phase of its international Phase 3 clinical trial referred to as MPOWERED. This Phase 3 trial is being conducted to potentially obtain regulatory approval in the European Union of its octreotide capsules product candidate, conditionally trade-named Mycapssa, for the maintenance therapy of adult patients with acromegaly. The company also recently announced that it has achieved 50% patients randomized in its Chiasma OPTIMAL Phase 3 trial, which is being conducted in accordance with a Special Protocol Assessment previously agreed to with the FDA. This enrollment milestone is an important step toward our goal of submitting a new drug application with the FDA.

16:14 EDT Mattel announces reduction of over 2,200 positions, or 22% of workforce - Company announced a reduction of over 2,200 positions, representing 22% of global non-manufacturing workforce, as well as planned sale of manufacturing sites in Mexico.

16:13 EDT Interface sees FY18 carpet tile and LVT sales growth 4%-7% - Interface is targeting carpet tile and LVT business to achieve 4-7% organic sales growth, gross profit margin of approximately 39%, and SG&A expenses that are relatively flat to 2017 as a percentage of net sales. The nora acquisition is anticipated to have the following impacts on Interface's targeted 2018 results: increasing gross profit margin by 30 - 50 basis points; increasing SG&A expenses, as a percentage of net sales, by 70 - 100 basis points; increasing the company's effective tax rate to 27 - 28%; and improving adjusted EPS by 3c-6c in 2018. Full year post-closing company interest and other expenses are projected to be $17M-$19M. Capital expenditures for the full year post-closing are forecasted to be $50M-$60M. The company continues to expect its strongest operating income growth in Q2 and Q3, with softer growth in Q1 and Q4. The company's existing credit facility will be amended and extended as part of the transaction closing to effectively refinance all of the company's current debt and incorporate new debt from the nora transaction.

16:11 EDT Facebook down 8% after Q2 revenue misses expectations

16:09 EDT Martin Midstream Partners sells interest in West Texas LPG Pipeline - Ruben Martin, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership said, "I am pleased to announce that the Partnership has entered into an agreement with ONEOK, Inc. to sell our 20 percent non-operating partnership interests in the West Texas LPG Pipeline Limited Partnership for $195.0 million. We expect the transaction to close on July 31, 2018 and will use net proceeds of approximately $193.7 million to reduce outstanding borrowings under the Partnership's revolving credit facility. Accordingly, our pro-forma leverage is 4.36 times compared to actual leverage of 5.46 times at June 30, 2018. In addition, the Partnership's forecasted growth capital expenditures will be reduced by approximately $24.2 million for the remainder of 2018.

16:08 EDT Qualcomm to terminate NXP Semiconductors deal when it expires at end of day - "We have entered into a definitive agreement, as amended, to acquire NXP Semiconductors (NXPI) for estimated total cash consideration to be paid to NXP's shareholders of $44 billion. The transaction remains subject to receipt of regulatory clearance from the State Administration for Market Regulation in China and other closing conditions, including the tender of at least 70% of the issued and outstanding common shares of NXP in the offer. In the absence of approval from SAMR or other material developments, we expect to terminate the transaction after 11:59 p.m. New York time on July 25, 2018, which is the 'End Date' for the transaction under the definitive agreement. If SAMR has not approved by the End Date, NXP will be entitled to receive a termination fee of $2.0 billion, which will be paid using existing cash and cash equivalents. If events occur that cause us to not terminate the transaction, we will continue to pursue the acquisition of all of the issued and outstanding shares of NXP."

16:07 EDT Facebook reports Q2 daily active users up 11%, monthly active users up 11% - Daily active users, or DAUs, were 1.47B on average for June, an increase of 11% year-over-year. Monthly active users, or MAUs, were 2.23B as of June 30, 2018, an increase of 11% year-over-year. Mobile advertising revenue represented approximately 91% of advertising revenue for the second quarter of 2018, up from approximately 87% of advertising revenue in the second quarter of 2017. Capital expenditures for the second quarter of 2018 were $3.46B. Headcount was 30,275 as of June 30, 2018, an increase of 47% year-over-year.

16:04 EDT Salem Media to purchase KCRO and KOTK stations, terms not stated - Salem Media Group announced it has signed an agreement to sell KCRO-AM (660), KOTK-AM (1420), and affiliated translators to Hickory Radio. Hickory is an affiliate of Walnut Radio, who will manage the radio stations on behalf of Hickory. For listeners, programmers and advertisers, the transition from Salem to Walnut/Hickory will be somewhat imperceptible. Both radio stations will remain in their present formats and retain their current program line-ups. Salem is licensing the use of the brand names "The Word" and "The Answer" in Omaha, Nebraska to Hickory/Walnut so that the stations will maintain their program integrity and brand equity.

16:04 EDT Allegiant Travel sees Q3 scheduled and system ASMs up 13%-15% vs. last year

16:04 EDT Qualcomm sees Q4 MSM chip shipments 205M-225M

16:00 EDT Gilead CEO Milligan to step down - Gilead Sciences announced that John F. Milligan, PhD, will step down as President and Chief Executive Officer after a 28-year career with the company. Dr. Milligan will remain in his current position through the end of the year, while the Board of Directors conducts a search to identify a successor. Dr. Milligan will also step down from the Gilead Board of Directors at the end of the year. Additionally, Dr. Martin has announced his intent to step down from the Board at the time a new CEO joins the company, having determined that this would be a natural transition point from his successive roles as CEO, Executive Chairman and Chairman.

15:17 EDT Arrow Financial raises dividend to 26c per share - The board of directors of Arrow Financial declared a quarterly cash dividend of 26c per share payable September 14 to shareholders of record August 31. This represents a 1c increase over the June 2018 cash dividend. It also represents a 7.1% increase over the cash dividend paid in the third quarter of 2017, as a result of the 3% stock dividend distributed September 28, 2017.

14:35 EDT Alamos Gold trading resumes

14:23 EDT Alamos Gold granted GSM permit required for Kirazl project development - Alamos Gold reported it has been granted the GSM, or Business Opening and Operation, permit required for the development of its Kirazl project by the Canakkale Governorship in Turkey. "We are very pleased to have achieved this key milestone. With the Environmental Impact Study and Forestry Permits having been previously approved, we have all the required permits to ramp up full scale construction activities. As one of the lowest-cost and highest return gold projects in the world, Kirazl will be a significant driver of free cash flow growth with initial production expected in 2020," said CEO John McCluskey. The initial capital estimate for Kirazl is $152M, of which $50 to $60M is expected to be spent in 2018, inclusive of $10M spent through the first half of 2018. The bulk of the remaining initial capital will be spent in 2019 and the first half of 2020. Based on the current timelines, the company expects initial production from Kirazl in the second half of 2020.

13:48 EDT Acorda denied motion for injunction related to generic versions of Ampyra - In a regulatory filing, Acorda Therapeutics reports that on July 25, 2018, the U.S. Court of Appeals for the Federal Circuit denied per curiam the company's motion for an injunction pending a decision in the company's appeal of a U.S. District Court decision in patent litigation with certain generic drug manufacturers. The 2017 District Court decision upheld the company's Ampyra Orange Book-listed patent set to expire on July 30, 2018, but invalidated four other Orange Book-listed patents pertaining to Ampyra that were set to expire between 2025 and 2027. Under the District Court decision, the company expects to maintain patent exclusivity with respect to Ampyra at least through July 30, 2018, depending on the outcome of appeal. The Court of Appeals held oral argument on June 7 and the company awaits a decision on the merits. "If the Court of Appeals does not overturn the District Court's decision by July 30, 2018, multiple generic drug manufacturers may decide to launch at-risk generic versions of Ampyra," Acorda stated.

13:21 EDT Snap, DC Entertainment announce content partnership for Mad Magazine - Snap Inc. (SNAP) and AT&T's (T) DC Entertainment announced a content collaboration that will bring Mad Magazine to the Snapchat platform. This collaboration, which falls under a global partnership forged by WarnerMedia and Snap last year, will bring Mad content to Snapchatters seven days a week, starting on September 1.

12:11 EDT Northrop Grumman CEO: 'Healthy change requires new leadership perspectives'

12:00 EDT USANA rises 21.9% - USANA is up 21.9%, or $23.85 to $133.00.

12:00 EDT GrubHub rises 22.1% - GrubHub is up 22.1%, or $24.08 to $133.14.

11:53 EDT Turkcell trading resumes

11:34 EDT Street Fight: Pivotal cuts Spotify rating after BTIG says buy - Spotify (SPOT) is slipping after Pivotal Research analyst Jeffrey Wlodarczak downgraded the stock to Hold, citing valuation and the potential for weaker than expected Monthly Active User trends. This comes a day after BTIG analyst Rich Greenfield initiated coverage of the stock with a Buy rating, saying he believes Spotify will be a "long-term winner" in the subscription music category that remains in its infancy. MOVING TO THE SIDELINES: In a research note to investors this morning, Pivotal Research's Wlodarczak downgraded Spotify to Hold from Buy, with an unchanged price target of $200, citing valuation and to a lesser extent what he increasingly views as too aggressive consensus 2018 premium MAU growth expectations. The analyst also tweaked his second quarter premium subscriber MAU lower from 6M to 5.5M, versus 7M consensus. The decision to reduce subscriber forecasts was primarily based on what Wlodarczak views as "credible weakening global Google Spotify search trends data," he said. Overall, the analyst pointed out that while he believes the stock's current valuation is "fair" it does not leave a lot of room for "hiccups." More bearish on Spotify, Loop Capital analyst Alan Gould initiated coverage of the stock with a Sell rating and $120 target back in May, saying the company's comparison to Netflix (NFLX) based on its status as a streaming music leader is not justified. Gould said that Spotify does not have a similar competitive lead as Netflix does, and noted that the "music oligopoly will make it difficult for music streaming to achieve the same margin as video". BTIG SAYS BUY SPOTIFY: Yesterday, BTIG's Greenfield started Spotify with a Buy rating and a $230 price target, as awaiting a better entry on the stock price "has not worked." The analyst argued that the company's platform is "simply too powerful" to wait any longer to embrace Spotify. Greenfield contended that the company will be a "long-term winner" in the subscription music category that remains in its infancy and will "grow significantly for years to come". He attributes Spotify's advantages to the "magic six" features of its platform, namely the ubiquity of its platform across mobile OS, its global reach relative to Pandora's (P) U.S.-only presence, easy access of Spotify app from the mobile home screen, high engagement, favorable credit card billing relationships with its 57M account holders, and customer loyalty. Also bullish on the stock, Morgan Stanley analyst Benjamin Swinburne told investors in a research note of his own that Android's global lead over iOS suggests the threat to Spotify, the global leader in music streaming, from Apple Music (AAPL) is "manageable." The analyst reiterated an Overweight rating and $190 price target on Spotify, though he sees a "bull case" for the stock reaching $300 per share. PRICE ACTION: In late morning trading, shares of Spotify have dropped about 1% to $186.34.

11:24 EDT Acorda Therapeutics falls after said to lose bid to block Ampyra generic - Shares of Acorda Therapeutics have moved sharply lower after Bloomberg reported that the company lost its bid for an injunction to block sales of a generic version of Ampyra. Acorda, whose main patent on Ampyra expires on July 30, is awaiting an appeals court decision on the validity of its patents for its prescription medicine indicated to help improve walking in adults with MS, noted Bloomberg. Acorda shares have come off their lows but remains down about 10% at $25.88 following the report on the ruling.

11:13 EDT Nevro rebounds after analysts defend shares on patent ruling - Shares of Nevro (NVRO) are on the rise after yesterday's selloff in response to a summary judgment issued in its patent fight with Boston Scientific (BSX). Commenting on the news, William Blair analyst Margaret Kaczor argued that the patent ruling is not as bad as it seems and is similar to the preliminary judgement published earlier this month. Her peers at Leerink, JPMorgan and Canaccord also defended Nevro, recommending buying the shares amid the weakness. NON-INFRINGEMENT JUDGEMENT: Nevro was under pressure yesterday after a judge in the U.S. District Court for the Northern District of California ruled that patent claims 18, 34, and 55 of the '125 patent, claims 5 and 34 of the '357 patent, claims 7, 12, 35, 37, and 58 of the '533 patent, and claims 1 and 22 of the '842 patent are invalid as indefinite. "Therefore, summary judgment is granted to Boston Scientific on those claims. For the remaining asserted claims, summary judgment of non-infringement is granted to Boston Scientific," a court order stated. Nevro announced this morning that the district court ruled in Nevro's favor with regard to six method claims in three Nevro patents, finding them patent eligible and rejecting Boston Scientific's arguments that the claims were invalid as indefinite. The court found that Boston Scientific is not currently infringing the six upheld method claims, added Nevro, which noted that Boston Scientific has not commercially launched a high-frequency SCS system in the U.S. Nevro believes that the six method claims that were upheld would effectively preclude Boston Scientific from commercially providing high frequency SCS therapy between 1.5 kHz and 100 kHz in the U.S., the company also stated. ANALYSTS SEE BUYING OPPORTUNITY: In a research note to investors this morning, William Blair's Kaczor told investors that the summary judgement issued yesterday is "not as bad as it seems" for Nevro. While the initial headline appears negative, the ruling is similar to the preliminary judgment published earlier this month, the analyst noted. Further, Kaczor pointed out that while some of the claims in the patents have been invalidated, the remaining claims, which include frequency ranges of 1.5 kHz to 100 kHz, were not invalidated. Nonetheless, she acknowledged that the judge found Boston Scientific did not infringe on the claims as its commercially available devices could not be programmed to frequencies that would infringe and that devices that could be programmed to high frequency that are being used in clinical trials are included in safe harbor provisions, which leaves the door open in the event that Boston commercially launches a device within the frequency ranges referenced above. The analyst believes, however, that even if Boston moves to launch a high frequency device in the U.S., the company would likely have to file for FDA approval following the completion of its high-frequency trial. Kaczor reiterated an Outperform rating on Nevro shares. Meanwhile, Leerink analyst Danielle Antalffy also defended Nevro shares, arguing that even in a worst-case scenario, namely one in which Nevro's patents are invalidated, allowing other manufacturers to pursue high frequency therapy, the company would still be able to grow sales by about 5% in 2019. Antalffy reiterated an Outperform rating and $90 price target on Nevro's shares as she continues to believe the company's fundamentals remain relatively strong, particularly given where the stock is currently trading. Calling the weakness in Nevro following the summary judgement a "buying opportunity," Canaccord analyst Jason Mills noted that the stock's move yesterday priced in a worst-case scenario, implying Nevro will lose all IP protection over its HF-10kHz technology. However, the analyst believes the current situation is more nuanced and the ultimate outcomes remain fluid. Mills reiterated a Buy rating and $80 price target on Nevro shares. Voicing a similar opinion, his peer at JPMorgan said he also views yesterday's selloff in shares of Nevro as a "clear buying opportunity." Analyst Robbie Marcus believes that while the headlines suggest Boston Scientific was the clear winner in the summary judgment, the "nuance in the actual ruling swings this in favor of Nevro," as the ruling implies that any attempt to actually commercialize a high-frequency device in the U.S. remains an infringement of Nevro's patents '102 and '472. He reiterated an Overweight rating on Nevro shares. PRICE ACTION: In morning trading, Nevro has jumped $15.88, or about 36%, to $60.07 per share.

11:09 EDT Blink Fitness, Seritage Growth Properties announce strategic multi-state deal - Blink Fitness and Seritage Growth Properties have announced a deal to expand Blink Fitness' reach. The multi-property lease agreement will bring 17 corporate and franchisee-owned gyms to major metropolitan areas across ten states and is a part of Blink Fitness' aggressive strategic growth strategy.

11:02 EDT xG Technology appoints Roger Branton as CEO - xG Technology announced that Roger Branton, xG Technology CFO and co-founder, has been appointed CEO by xG Technology's board, effective immediately. Branton has also been elected to the company's board. Gary Cuccio, who has served as xG Technology's interim CEO since April 23, 2018, will continue to serve as the company's board chairman.

10:51 EDT Boeing says targeting strategic acquisitions to grow services unit - Says considerable amount of work remains to complete Embraer (ERJ) transaction.

10:42 EDT General Motors says 'can't pull enough levers' to offset higher costs in 2H

10:35 EDT Biogen announces detailed results from Phase 2 study of elenbecestat - Eisai and Biogen announced detailed results from a Phase 2 clinical study of the investigational oral BACE inhibitor elenbecestat at the Alzheimer's Association International Conference 2018 being held in Chicago. The multicenter, randomized, double-blind, placebo-controlled parallel-group 18-month Phase 2 clinical study was conducted in the United States in patients with mild cognitive impairment due to Alzheimer's disease, or mild to moderate dementia due to Alzheimer's disease with confirmed amyloid pathology by positron emission tomography. Seventy patients were randomized to four treatment arms receiving elenbecestat or placebo daily. During the study period, more than half the patients in the elenbecestat 5 mg and 15 mg arms were switched to the 50 mg arm. These patients received elenbecestat 50 mg for three months or longer. Analysis was carried out on the combination of patients in the initial 50 mg treatment arm plus the patients switched to the 50 mg arm, referred to collectively as the "50 mg total group arm". In addition to the primary safety objective, the study assessed amyloid pathology in the brain at 18 months as measured by amyloid PET as well as efficacy in terms of clinical symptoms, which were exploratory objectives in this study. Regarding the accumulation of amyloid in the brain at 18 months as measured by PET via quantitative evaluation of Standard Uptake Value Ratio using the florbetaben PET tracer, a statistically significant reduction of brain amyloid load as compared to placebo was observed in the 50 mg total group arm with a reduction in SUVr of 0.104. Although a small sample size, using the florbetapir PET tracer demonstrated a statistically significant decrease in brain amyloid load compared to placebo for the 50 mg total group arm at 18 months. Clinical efficacy was evaluated using the Clinical Dementia Rating Sum of Boxes rating scale. After 18 months of treatment, clinical assessment using CDR-SB demonstrated a mean treatment difference of -0.5 based off of an increase of 1.1 for the elenbecestat 50 mg total group arm versus an increase of 1.6 for the placebo group. This represented a 31% slowing in rate of decline for the elenbecestat arm which is potentially considered to be clinically important. "While the study was not powered to show statistical significance compared to placebo on clinical symptoms, the results suggest that elenbecestat could slow decline in cognitive function of patients with MCI due to Alzheimer's disease, or mild to moderate dementia due to Alzheimer's disease," the companies stated.

10:33 EDT Corium presents additional 'positive' results from Corplex Donepezil study - Corium International announced that Parminder "Bobby" Singh, Ph.D., Corium's Chief Technology Officer and Vice President, Research and Development, presented positive pharmacokinetic and pharmacodynamic clinical results from the company's bioequivalence study of Corplex Donepezil in a poster presentation today at the Alzheimer's Association International Conference 2018 in Chicago, IL. Corium had previously reported "positive" PK bioequivalence data comparing once-weekly Corplex Donepezil and daily oral Aricept at steady state. In the poster results presented today, these bioequivalence results were further supported by equivalent pharmacodynamics of Corplex Donepezil and oral Aricept, characterized by the relationship between plasma donepezil concentrations and red blood cell acetylcholinesterase inhibition, which is an important biomarker of the pharmacodynamic response to donepezil. The results also demonstrated that donepezil exposure over the 7-day wear duration was dose proportional for the two intended product strengths, 5 mg/day and 10 mg/day. Further, the pharmacokinetics were independent of age, indicating no dose adjustment is required for Corplex Donepezil based on age. The bioequivalence study was a six-month, three-period, randomized crossover study comparing the steady-state PKPD profiles of once-daily oral Aricept with Corplex Donepezil.

10:25 EDT General Motors CEO says 'we are free traders'

10:13 EDT General Motors CFO sees 'medium-term path' to profitablity for GMI

10:12 EDT General Motors CFO says expects Q4 stronger than Q3 on relative basis

10:08 EDT GM CEO says taking actions to mitigate headwinds; volatility to persist into 2H - On the company's Q2 earnings conference call, Chairman and CEO Mary Barra said results "while solid, did not meet our plan." Barra said GM is taking actions to mitigate headwinds, but expects volatility to extend into 2H. Barra said the challenge presented by raw material prices, FX rates "significantly greater" than expected. Shares of GM are down over 7% to $36.65 in morning trading.

10:00 EDT Tupperware Brands falls -13.7% - Tupperware Brands is down -13.7%, or -$5.60 to $35.17.

10:00 EDT Northrop Grumman sees FY aerospace systems sales about $13B - Sees FY18 segment operating margin in low to mid 11% range. Sees FY operating margin in high 11% range. sees FY net interest expense about $520M, effective tax rate in mid 16% range. Sees FY CapEx about $1.15B, free cash flow $2.4B-$2.6B. Sees FY aerospace systems sales about $13B, innovation systems sales about $3B, sees mission systems sales in mid to high $11B range, technology services sales in low to mid $4B range. Northrop Grumman previously forecast FY aerospace systems sales in the high $12B range. Comments from slides that will be presented on the Q2 earnings conference call.

10:00 EDT USANA rises 16.2% - USANA is up 16.2%, or $17.70 to $126.85.

09:50 EDT FRONTEO Inc (ADS) trading resumes

09:47 EDT USANA rises 16.8% - USANA is up 16.8%, or $18.35 to $127.50.

09:45 EDT FRONTEO Inc (ADS) trading halted, volatility trading pause

09:31 EDT UPS says 'very comfortable' with ability to compete in core businesses - Repeating similar comments made in the past, UPS (UPS) said it isn't "naive" and monitors all competitive developments, but that it remains "very comfortable" with its ability to compete in all of its core businesses. The comments were made in response to a question regarding Amazon (AMZN).

09:30 EDT Cerprobe to commence Phase 3 study of lenabasum - Corbus Pharmaceuticals announced that the company will proceed with a Phase 3 trial evaluating the efficacy and safety of lenabasum for the treatment of dermatomyositis, or DM. Dermatomyositis is a rare and serious multisystem inflammatory autoimmune disease affecting muscle and skin. The FDA provided guidance on the overall study design of this trial at a recent end-of-Phase 2 meeting. The Phase 3 study is planned to begin at the end of 2018. The international Phase 3 trial will be a 1-year, double-blind, randomized, placebo-controlled study testing efficacy and safety of lenabasum in approximately 150 adults with DM. Subjects will be randomized to receive lenabasum 20 mg twice per day, lenabasum 5 mg twice per day, or placebo twice per day in a 2:1:2 ratio. The primary efficacy outcome will be American College of Rheumatology/European League Against Rheumatism 2016 Total Improvement Score in myositis, a composite measure of improvement from baseline in six endpoints: Physician Global Activity, Patient Global Activity, Health Assessment Questionnaire, Manual Muscle Testing, and measurement of muscle enzymes and extra muscular activity. Change in the Cutaneous Dermatomyositis Activity and Severity index activity score will be a secondary efficacy outcome.

09:19 EDT Tyler Technologies signs agreement with Summit County consortium in Ohio - Tyler Technologies announced that it has signed an agreement with the Summit County Consortium in Ohio for a full suite of Tyler's public safety solutions. The agreement extends to six public safety answering points, or PSAPs for the Summit County Sheriff's Office and the cities of Green, Stow, Cuyahoga Falls, Fairlawn, and Akron. Through the agreement, Tyler will provide its new world public safety solutions to 26 agencies served by the six PSAPs in Summit County. The Summit County Consortium was looking for a platform to elevate their public safety software and create efficiencies through consolidation. The cities of Stow and Cuyahoga Falls were already Tyler clients.

09:16 EDT ServiceMaster names Brian Turcotte as CFO of American Home Shield - ServiceMaster Global Holdings announced it has promoted Brian K. Turcotte to CFO of American Home Shield, leading up to the spinoff of that business. Most recently, Turcotte served as vice president of investor relations and treasurer for ServiceMaster.

09:12 EDT Energy Recovery awarded $3.3M for water projects in Egypt - Energy Recovery announced a $3.3M award to supply its PX Pressure Exchanger for a water project in Egypt. The order is expected to ship in Q4.

09:11 EDT Anavex presents data identifying treatment response biomarkers in patients - Anavex Life Sciences reported results of the entire genome DNA and RNA evaluation of study participants in a 57-week Phase 2a Alzheimer's disease study investigating ANAVEX 2-73, a selective sigma-1 receptor agonist, resulting in the analysis of 33,311 genes and 860 pathways. Additionally, direct target occupancy of ANAVEX 2-73 at the sigma-1 receptor using quantitative Positron emission tomography scanning was presented. Several genetic variants that impacted response to ANAVEX 2-73 were identified in the study analysis including the Sigma-1 receptor, the target for ANAVEX 2-73, and the Catechol-O-methyltransferase gene, produced by nerve cells and involved in memory function. Results showed that study participants with SIGMAR1 or COMT variants were less likely to benefit from treatment with ANAVEX 2-73. In the study population, when participants with these variants were excluded, the remaining study participants showed improved scores on gold-standard tests of cognition and activities of daily living. Including participants with milder disease and excluding those with a SIGMAR1 variant resulted in an average improvement of +1.7 MMSE and +3.9 ADCS-ADL at week 57 compared to baseline. The additional exclusion of participants with the COMT variant resulted in a score improvement of +2.0 MMSE and +4.9 ADCS-ADL at week 57 compared to baseline.

09:10 EDT GrubHub up 9% to $119.34 after Q2 results beat estimates

09:07 EDT General Dynamics says 'comfortable' with Q3 orders - Expects "good" Q3 and 2H18 orders. Comments from Q2 earnings conference call.

09:05 EDT BrainStorm granted new European patent for NurOwn - BrainStorm announced that the European Patent Office has granted an European-wide patent entitled 'Mesenchymal Stem Cells for the Treatment of CNS Diseases' for the treatment of Amyotrophic Lateral Sclerosis with NurOwn. This patent provides protection for NurOwn(R) in Europe until 2029. The allowed claims cover methods of treating amyotrophic lateral sclerosis using mesenchymal stem cells that secrete neurotrophic factors, including Brain derived neurotrophic factor.

09:03 EDT Del Frisco's names Mia Meachem Chief Marketing Officer - Del Frisco's announced Mia Meachem has been named Chief Marketing Officer, effective immediately. In this role, Meachem will be responsible for Del Frisco's overall marketing, innovation and consumer engagement strategy. Most recently, she served as Chief Marketing Officer at Highland Park Village.

09:01 EDT UPS sees Q4 EPS growth in mid-teens percentage - For the fourth quarter, UPS said it expects "to have a good peak season," but CFO Richard Peretz said "the calendar works against" the company with two less operating days in December. "At the same time, we're bringing on significant capacity" and opening several larger new facilities before peak that "will provide benefits going into the future," added Peretz. As previously guided, fourth quarter earnings per share growth is expected to be in the mid-teens, he noted, reminding investors that the company's "new transformation initiatives are not included in our guidance."

08:54 EDT Integra LifeSciences says 'confident' will accelerate organic growth in 2H18 - Says continues to make progress with R&D pipeline. Says encouraged by channel expansion efforts to date. Says looks forward to a steady flow of product launches in late 2018, early 2019. Says transitioned the Codman China business one year ahead of schedule. Expects CSS organic revenue growth to be approximately 3% in FY18. Expects OTT organic revenue growth to be between 8%-10% for FY18. Expects FY18 adjusted tax rate of approximately 18%. Says remains confident in ability to meet or exceed guidance. Sees FY18 CapEx $65M-$75M, FCF $80M-$90M. Expects elevated levels of capital expenditures in early 2019. Comments taken from Q2 earnings conference call.

08:53 EDT Coca-Cola says gross margin pressure 'very moderate, within expecations'

08:51 EDT Marriott to debut on Chinese e-commerce platform Alibaba's Super Brand Day - Marriott announced its inaugural participation in Alibaba's 'Tmall Super Brand Day' slated for 28th July, the first hospitality company to do so. Tmall is Alibaba's Chinese-language e-commerce platform for brands and retailers, and the Tmall Super Brand Day is a campaign driven by Tmall which spotlights select brands for Chinese consumers. Each participating brand has a 24-hour period to offer promotions, flash sales and special offers on the Tmall storefront.

08:44 EDT Coca-Cola says sees currency headwinds in 2H18 - Cites stronger U.S. dollar.

08:41 EDT Albireo Pharma names Patrick Horn CMO - Albireo Pharma announced the appointment of Patrick Horn as CMO. Horn will succeed Paresh Soni who will step down from the CMO role but will continue as a consultant to the company. Patrick Horn is a leading pediatrician with development experience in both large pharmaceutical and biotech companies, including two orphan disease companies. Most recently, Horn was SVP, Medical and Clinical Development at Orphan Technologies, where he was responsible for the development of treatments for homocystinuria.

08:38 EDT Coca-Cola says expects FY18 EPS growth 'back half weighted' - Says sees "solid growth" in emerging markets. Says freight costs "remain a challenge" and were "higher than expected." Comments from Q2 earnings conference call.

08:37 EDT CytRx subsidiary files provision patent application - CytRx's private wholly-owned subsidiary Centurion BioPharma filed a provisional patent application with the USPTO covering its albumin companion diagnostic for use alongside its albumin binding ultra-high potency LADR drug candidates. The goal of ACDx is to identify patients with cancer who are most likely to benefit from treatment with the company's lead assets, LADR-7, LADR-8, LADR-9 and LADR-10 and from any albumin-binding drugs the company may generate in the future.

08:35 EDT Pareteum awarded $3M 5-Year contract in North Africa - Pareteum has signed a $3M 5-year agreement to provide its Managed Service Platform to a North-African based MVNE provider.

08:34 EDT Stamps.com to acquire e-commerce shipping software company MetaPack - Stamps.com announced that it has entered into a definitive agreement to purchase MetaPack Ltd., a United Kingdom-based company that provides a multi-carrier enterprise-level solution to many of the world's preeminent e-commerce retailers and brands. MetaPack has over 500 customers. Stamps.com has agreed to purchase MetaPack for approximately GBP 175 million in cash, which is approximately $230 million, funded entirely from current cash balances. The Boards of Directors of both companies have approved the transaction, which is expected to close during August 2018. Stamps.com plans for MetaPack to continue to operate as a wholly-owned subsidiary led by members of its existing management team. Stamps.com will further discuss the acquisition of MetaPack during its upcoming second quarter earnings conference call on August 1, 2018.

08:31 EDT Immersion signs licensing agreement with Stanley - Immersion Corp. announced it signed a license agreement with Stanley Electric incorporating its Haptics IP into electronic printer equipment. "Our new license agreement reflects the depth and breadth of our portfolio, and we are pleased that Stanley is licensing our technology," said Nobumitsu Shimada, Immersion's Sr. Director, Field Sales, APAC.

08:13 EDT Navient still sees FY NIM approximately 325bps

08:10 EDT RedHill Biopharma initiates co-promotion of HIV/AIDS anti-diarrheal drug Mytesi - RedHill Biopharma (RDHL) announced that it has initiated promotion of Mytesi, a first-in-class anti-secretory prescription drug product of Napo Pharmaceuticals, a wholly-owned subsidiary of Jaguar Health (JAGX), that is approved by the FDA for the symptomatic relief of non-infectious diarrhea in adults with HIV/AIDS on anti-retroviral therapy. RedHill's co-promotion efforts will target gastroenterologists and select primary care physicians in the U.S., complementing the efforts of Napo's direct sales force, which has been fully deployed since the second quarter of 2018.

08:09 EDT Internap enters colocation agreement with provider of communication technology - Internap Corporation announced an agreement with an internationally recognized leader in communications technology with a large portfolio ranging across networks, digital services, managed services and emerging business platforms, for Colocation services in Montreal.

08:07 EDT Freeport McMoRan sees FY18 sales of 3,8B pounds of copper - Consolidated sales for the year 2018 are expected to approximate 3.8B pounds of copper, 2.4M ounces of gold and 95M pounds of molybdenum, including 970M pounds of copper, 700 thousand ounces of gold and 24Mpounds of molybdenum in third-quarter 2018.

08:06 EDT Yext adds Amazon Alexa to Knowledge Network - Yext (YEXT) announced a global integration with Amazon (AMZN) to give businesses control over the answers Alexa provides about them. With this new relationship, consumers using Alexa for voice search can receive the most up-to-date facts about businesses-locations, contact information, hours of operation, and more-straight from the source: the business itself.

08:02 EDT Norfolk Southern reports Q2 operating ratio 64.6%

07:48 EDT Endo and Bioprojet sign agreement for commercialization of pitolisant in Canada - Endo's subsidiary Endo Ventures has entered into definitive agreements with Bioprojet SCR to register, commercialize, and distribute pitolisant on an exclusive basis in Canada. Paladin Labs, an operating company of Endo, will be commercializing pitolisant in Canada. Pitolisant is a selective histamine H3-receptor antagonist/inverse agonist that enhances the activity of histaminergic neurons. The drug is approved in the EU for the treatment of narcolepsy in adult patients with or without cataplexy, but is not approved in Canada. Pitolisant has an orphan designation in the EU and the US for the treatment of narcolepsy. Paladin will be responsible for the registration distribution, sales, marketing, medical affairs, pricing and reimbursement activities in connection with pitolisant while Bioprojet will be responsible for supplying the drug to Paladin.

07:46 EDT Jacobs Engineering selected by LA Metro for bike path project - Jacobs Engineering, in partnership with Alta Planning + Design, has been selected by the Los Angeles County Metropolitan Transportation Authority to perform environmental studies and design for the Los Angeles River Bike Path Gap Closure Project. The selection was unanimously approved by the Metro board. The project will provide a bicycle and pedestrian path along an eight-mile stretch of the LA River from the neighborhood of Elysian Valley to the City of Vernon, improving access to treasured city resources by closing the longest remaining continuous gap in the LA River Bike Path project. When completed, the path will offer a 32-mile continuous active transportation corridor connecting Long Beach to the San Fernando Valley. Metro allocated $365 million in funding from the Measure M sales tax measure approved by Los Angeles County voters in 2016. The project is scheduled to break ground in 2023 and be completed in 2027.

07:41 EDT Boeing CEO says 'We are seeing the results of our One Boeing approach' - "We are seeing the results of our One Boeing approach as our teams work together across the Boeing enterprise to deliver value to our customers and grow our business. In the quarter, we generated improved revenue and earnings, delivered strong cash and captured $27 billion in new orders," said Boeing Chairman, President and CEO Dennis Muilenburg. "Continued services growth, increasing defense volume and strong performance of our commercial business, as well as our positive market outlook, give us the confidence to raise our revenue and Commercial Airplanes margin guidance for the year. We remain focused on execution, driving innovation, continuing to develop and maintain the best team and talent in the industry, and increasing value for our customers, shareholders, employees and other stakeholders."

07:40 EDT Boeing raises FY18 Global Services revenue view to $15.5B-$16B from $15B-$15.5B

07:34 EDT General Dynamics says CSRA integration 'well underway' - "General Dynamics delivered solid operating results and accomplished a number of key strategic objectives across the portfolio. We closed on the CSRA acquisition, building on our core GDIT business to create a leading government IT services provider, and integration of the business is well underway. Our Combat and Marine segments continue to have reliable growth with strong operating performance. And the FAA certified the G500 and we look forward to delivering this newest Gulfstream aircraft to our customers in fourth-quarter 2018," said Phebe Novakovic, chairman and CEO.

07:34 EDT GM Financial reports Q2 net income $442M vs. $62M last year - GM Financial announced net income of $442 million for the quarter ended June 30, 2018, compared to $62 million for the quarter ended June 30, 2017. Net income for the six months ended June 30, 2018 was $811 million, compared to $264 million for the six months ended June 30, 2017. Net income from continuing operations for the three and six month periods ended June 30, 2017 was $270 million and $449 million, respectively. Retail loan originations were $6.0 billion for the quarter ended June 30, 2018, compared to $5.1 billion for the quarter ended March 31, 2018, and $5.3 billion for the quarter ended June 30, 2017. Retail loan originations for the six months ended June 30, 2018 were $11.1 billion, compared to $10.9 billion for the six months ended June 30, 2017. The outstanding balance of retail finance receivables was $35.7 billion at June 30, 2018. Operating lease originations were $6.2 billion for the quarter ended June 30, 2018, compared to $5.7 billion for the quarter ended March 31, 2018, and $6.7 billion for the quarter ended June 30, 2017. Operating lease originations for the six months ended June 30, 2018 were $11.9 billion, compared to $13.0 billion for the six months ended June 30, 2017. Leased vehicles, net was $44.1 billion at June 30, 2018. The outstanding balance of commercial finance receivables was $10.7 billion at June 30, 2018, compared to $10.4 billion at March 31, 2018 and $9.7 billion at June 30, 2017. Retail finance receivables 31-60 days delinquent were 3.3% of the portfolio at June 30, 2018 and 3.4% at June 30, 2017. Accounts more than 60 days delinquent were 1.3% of the portfolio at June 30, 2018 and 1.5% at June 30, 2017. Annualized net charge-offs were 1.7% of average retail finance receivables for the quarters ended June 30, 2018 and 2017. For the six months ended June 30, 2018, annualized retail net charge-offs were 1.9%, compared to 2.0% for the six months ended June 30, 2017. The Company had total available liquidity of $23.1 billion at June 30, 2018, consisting of $4.0 billion of cash and cash equivalents, $15.9 billion of borrowing capacity on unpledged eligible assets, $0.1 billion of borrowing capacity on committed unsecured lines of credit, $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM, and $2.0 billion of borrowing capacity on the GM Revolving 364-Day Credit Facility. Earnings resulting from the Company's equity investment in SAIC-GMAC, a joint venture that conducts auto finance operations in China, were $45 million for the quarter ended June 30, 2018 compared to $41 million for the quarter ended June 30, 2017. Earnings for the six months ended June 30, 2018 were $97 million, compared to $88 million for the six months ended June 30, 2017.

07:33 EDT Hess Corp. sees completing sale of JV interests in Utica shale play in Q3 - In the third quarter, the Corporation expects to complete the sale of its joint venture interests in the Utica shale play for net cash consideration of approximately $400M with an effective date of April 1, 2018.

07:21 EDT Fiat Chrysler says financial targets presented in June business plan unchanged - Fiat said its 2018 guidance was confirmed for adjusted net profit and revised for other metrics. The remaining financial targets presented in the 2018-2022 business plan on June 1 are unchanged, the company added.

07:15 EDT Aerohive's 802.11ax AP630 capable access point receives FCC, IC certification - Aerohive Networks announced that its 802.11ax capable AP630 access point received certification today from the United States Federal Communications Commission as well as Industry Canada. The AP630 is 802.11ax-capable and is also fully compatible with all previous 802.11 operating modes.

07:13 EDT Topicus signs $2.3M five-year term license agreement with Magic Software - Magic Software Enterprises announced that Topicus Finance has signed a $2.3M, five-year term license agreement for the use of its Magic xpa Application Platform and Magic xpi Integration Platform. Magic xpa has been a core application platform in the development of EuroPort+, the Netherlands' leading banking platform for wealth management, which Topicus acquired with its purchase of Able B.V. in 2017. EuroPort+ securely processes millions of accounts and investment portfolios and savings accounts, and the processing of hundreds of thousands of transactions per hour. Topicus will continue to use the newest versions of Magic xpa Application Platform in EuroPort+ to extend its cloud application, as well as pursue new opportunities to leverage Magic xpi Integration Platform. The contract also includes an agreement to jointly promote and offer Topicus financial solutions worldwide.

07:12 EDT Coca-Cola reports Q2 operating margin up more than 950 bps - Operating margin, which included items impacting comparability, grew more than 950 basis points. Comparable operating margin expanded more than 300 basis points, driven by divestitures of lower-margin bottling operations and the company's ongoing productivity efforts, partially offset by an approximate 200 basis point headwind from the adoption of the new revenue recognition accounting standard and the impact of currency. The company continued to gain value share in total nonalcoholic ready-to-drink beverages.

07:11 EDT Coca-Cola reports Q2 unit case volume grew 2% - Growth was led by Trademark Coca-Cola, including continued double-digit growth for Coca-Cola Zero Sugar, and also reflects the continued strong performance of Fuze Tea.

07:09 EDT Nasdaq narrows 2018 non-GAAP operating expense view to $1.31B-$1.335B - The company is updating its 2018 non-GAAP operating expense guidance to $1.31B-$1.335B versus prior expense guidance of $1.295B-$1.335B, reflecting in part the strong organic growth in the first six months of the year, and the impact this has on performance-linked compensation plans.

07:08 EDT Coca-Cola sees FY18 cash from operations of approximately $8B - Sees FY18 CapEx approximately $1.7B.

07:05 EDT Dana CFO expects 'strong market demand' to continue - "As we look forward to the second half of this year, we expect strong market demand to continue, tempered by normal seasonality when compared with the first half of the year," said Jonathan Collins, executive vice president and chief financial officer of Dana. "Our margin performance is on track to steadily improve this year, solidifying our trajectory to achieve our 2019 targets."

07:04 EDT Lithia Motors will no longer provide annual earnings outlook beginning in 2019

06:58 EDT Quanta Services selected for three spreads of Line 3 replacement program - Quanta Services announced that it was selected by Enbridge Pipelines for three spreads of phase two of the Canadian section of the Line 3 replacement program. Quanta's scope of work includes the construction and installation of approximately 236 miles of new 36-inch diameter crude oil mainline pipe, which will begin in White City, Saskatchewan and continue to Brandon, Manitoba. Quanta's construction on the project is expected to begin in August and is anticipated to achieve substantial completion in the first half of 2019.

06:47 EDT Merck: Phase 3 KEYNOTE-048 trial met primary endpoint of OS - Merck announced that the pivotal Phase 3 KEYNOTE-048 trial investigating KEYTRUDA, Merck's anti-PD-1 therapy, for first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma, met a primary endpoint of overall survival as monotherapy in patients whose tumors expressed PD-L1. Based on an interim analysis conducted by the independent Data Monitoring Committee (DMC), treatment with KEYTRUDA monotherapy in these patients resulted in significantly longer OS compared to cetuximab in combination with platinum chemotherapy plus 5-Fluorouracil, the current standard of care for HNSCC in the first-line treatment setting. At the time of the interim analysis, the dual-primary endpoint of progression-free-survival for patients whose tumors expressed PD-L1 had not been reached. The safety profile of KEYTRUDA in this trial was consistent with that observed in previously reported studies involving patients with HNSCC. These results will be presented at an upcoming medical meeting and submitted to regulatory authorities worldwide. Based on the recommendation of the DMC, the trial will continue with no changes to evaluate KEYTRUDA monotherapy and KEYTRUDA in combination with platinum chemotherapy plus 5-FU.

06:41 EDT Immucell sells non-core assets for $700K to UK-based TCS Biosciences - ImmuCell has closed on the sale of certain non-core assets for $700K to TCS Biosciences of Buckingham, U.K. The sale includes the cell line and intellectual property underlying the company's diagnostic test to detect the presence of Cryptosporidium in drinking water. A payment of $250K was received up front, and the remaining $450K is due in two payments during 2H19. The company has retained the rights to all animal health, diagnostic, feed and nutritional applications of this technology. This agreement also includes a purchase order for product manufactured by the company worth approximately $125K that may be sold to TCS during 1Q19.

06:38 EDT GlaxoSmithKline, 23andMe team up on genetics-driven drug research - GSK and 23andMe unveiled an exclusive four-year collaboration that will focus on research and development of innovative new medicines and potential cures, using human genetics as the basis for discovery. The collaboration will combine 23andMe's large-scale genetic resources and advanced data science skills, with the scientific and medical knowledge and commercialization expertise of GSK. The goal of the collaboration is to gather insights and discover novel drug targets driving disease progression and develop therapies for serious unmet medical needs based on those discoveries. With over 5 million customers, 23andMe offers those with an interest in genetics the opportunity to learn more about their personal genetic profile. Together, GSK and 23andMe will focus on translating genetic and phenotypic data into R&D activities that will: Improve target selection to allow safer, more effective 'precision' medicines to be discovered; Support identification of patient subgroups that are more likely to respond to targeted treatments; Allow more effective identification and recruitment of patients for clinical studies. Under the terms of the deal, GSK and 23andMe have entered into a four-year collaboration with the option to extend for a fifth year under which GSK will become 23andMe's exclusive collaborator for drug target discovery programs. During this time, the companies will use 23andMe's rich database and proprietary statistical analytics to fuel drug target discovery, with the goal of jointly discovering novel targets that can progress into development. A joint GSK-23andMe drug discovery team will use their combined resources to identify new targets and prioritize based on strength of the biological hypothesis, possibility to find a medicine, and clinical opportunity. To allow work to commence immediately, the deal enables both companies to bring existing early stage programs within the collaboration. 23andMe currently has a portfolio of early stage therapeutic research programs across a wide range of disease indications, which will be assessed for inclusion. GSK will contribute its LRRK2 inhibitor, which is currently in preclinical development as a potential treatment for Parkinson's disease. All activities within the collaboration will initially be co-funded (50%/50%), with either company having certain rights to reduce its funding share for any collaboration program. It is expected that this collaboration will jointly progress a number of targets per year, with either company able to independently progress additional targets identified within the collaboration. GSK will also have the right to work with 23andMe to analyze 23andMe's database for validation of GSK's existing therapeutic portfolio as well as leverage 23andMe's capabilities for clinical trial recruitment. Both GSK and 23andMe will share in the proceeds from new treatments and medicines arising from the collaboration. Additionally, GSK has made a $300M equity investment in 23andMe.

06:34 EDT Owens Corning sees "substantial" earnings growth in 2H18 - Owens Corning continues to expect an environment consistent with consensus expectations for U.S. housing starts and global industrial production growth. Expects the price momentum generated in the first-half to drive substantial earnings growth in the second-half, resulting in a full-year adjusted EBIT outlook of $925M-$975M. The company estimates an effective tax rate of 26% to 28%, and a cash tax rate of 10% to 12% on adjusted pre-tax earnings, due to the company's U.S. tax net operating loss and foreign tax credit carryforwards. The company has improved its outlook for general corporate expenses to $135M-$140M in 2018. Capital additions in 2018 are expected to total approximately $500M. Interest expense is expected to be $125M-$130M. In 2018, the company expects to convert adjusted earnings into free cash flow at about 100%.

06:31 EDT Santander Consumer announces $200M share repurchase program - Santander Consumer received authorization to repurchase $200M of outstanding common stock through June 30, 2019. "We had a strong second quarter, with clear momentum in our business performance and continued regulatory progress," said Scott Powell, SC President and CEO. "Earnings were up 26 percent from 2Q 2017, driven by strong originations across all channels, including Chrysler, and by strong credit performance. SHUSA also received a non-objection from the Federal Reserve to our capital plan, which allows SC to pay a meaningful dividend and launch an inaugural share repurchase program."

06:31 EDT Ingersoll-Rand raises FY18 outlook

06:20 EDT Deutsche Bank reports Q2 Corporate & Investment Bank revenues EUR3.6B - Corporate & Investment Bank revenues were 3.6 billion euros, down 1% versus the prior year quarter. Private & Commercial Bank revenues were 2.5 billion euros, down 1% versus the prior year quarter.

06:19 EDT Deutsche Bank: Adjusted cost reductions 'on track' - Deutsche Bank made progress in executing on strategic actions announced by the new management team in April: In the Private & Commercial Bank, the merger of Deutsche Bank's German Private & Commercial Business with Postbank was completed on schedule in May, creating a combined entity with 20 million clients and Germany's largest private and commercial bank. The reshaping of the Corporate & Investment Bank has made considerable progress: o Front-office workforce reductions are now well advanced. o Substantial deleveraging has been completed, with reductions in leverage exposure in specific areas such as Equities and US Rates. Adjusted cost reductions are on track, due to workforce reductions and progress in reducing non-compensation costs. Management is committed to reducing adjusted costs quarter by quarter in the second half of 2018.

06:16 EDT Precision Drilling appoints Shuja Goraya as CTO and Darren Ruhr as CAO - Precision Drilling appointed Shuja Goraya as Chief Technology Officer and Darren Ruhr as Chief Administrative Officer. Shuja Goraya as Chief Technology Officer will lead strategic drilling technology initiatives designed to significantly enhance drilling process efficiency. Goraya was most recently Vice President of the North American Drilling Group responsible for Directional Drilling, Drilling Tools, Fluids, Bits, Integrated Projects and Land Rigs. Darren Ruhr will assume the newly created role of Chief Administrative Officer. Ruhr has been with Precision since 1997 and most recently held the position of Senior Vice President, Corporate Services.

06:13 EDT Ladenburg Thalmann invests in Track Technologies - Ladenburg Thalmann announced its strategic investment in Track Technologies, a San Francisco-based digital provider of tax automation for independent contractors, freelancers, and other workers who generate self-employed income. The investment, which is the first major outgrowth of Ladenburg's recently launched Innovation Lab and its inaugural Innovation Symposium in May, enables Ladenburg to align new technology-enabled solutions to support the business growth of financial advisors affiliated with its five independent advisory and brokerage subsidiary firms: Securities America, Triad Advisors, KMS Financial Services, Investacorp and Securities Service Network.

06:06 EDT Integra LifeSciences raises low end of FY18 outlook

06:03 EDT Anthem sees FY18 medical membership 39.9M-40.1M - Benefit expense ratio is expected to be in the range of 84.4% plus or minus 30 basis points. SG&A ratio is expected to be in the range of 15.4% plus or minus 30 basis points. Operating cash flow is expected to be greater than $4B.

05:49 EDT Sergio Marchionne, former CEO of Fiat Chrysler, has died - Sergio Marchionne, the former CEO of Fiat Chrysler has died, according to multiple media reports and Exor NV, the holding company of Fiat's founding Agnelli family. Marchionne's health declined suddenly following complications from shoulder surgery.

05:42 EDT Check Point announces 100% increase to share repurchase program - Check Point announced that its board has authorized the expansion of the company's on-going share repurchase program. Under the updated repurchase plan, effective immediately, Check Point is authorized to increase the quarterly repurchase of its outstanding shares by 30%, up to $325M, and the overall program by 100%, to an aggregate of $2B. As of June 30, 2018, Check Point has approximately 156.2M ordinary shares outstanding. Check Point began its share repurchase program in 2003, and since then has repurchased approximately 154.5M shares for a total purchase price of approximately $7.3 billion. The updated plan expands the company's existing repurchase plan announced in August 2017, which had provided for the repurchase of up to $250M shares each quarter, up to an aggregate of $1B, which is expected to be completed in Q3.

05:36 EDT ObsEva hires Wim Souverijns as Chief Commercial Officer - ObsEva (OBSV) announced the appointment of a Chief Commercial Officer, Wim Souverijns, who will be based at the company headquarters in Geneva, Switzerland. Souverijns recently served as Corporate Vice President, Global Marketing, Hematology & Oncology within Celgene (CELG) out of Summit, New Jersey.

04:53 EDT Citron says biosimilars and rebates are why AbbVie shares are going to $60 - Two words make AbbVie a short - Biosimilars and Rebates, says Citron Research in a new research report. Last week the short selling firm tweeted that the stock is going to $60. Last night it posted its report explaining why. Shares of AbbVie closed yesterday up $2.14 to $91.54. "Last week in a speech to the Brookings Institute FDA Chairman Scott Gottlieb all but called out AbbVie in his strong remarks regarding the tactics of pharmaceutical companies in blocking biosimilars from the marketplace," Citron writes. It adds, "In a double whammy to AbbVie, last week also came a proposed change in government policy to get rid of the safe harbor provision and eliminate the rebates that have allowed AbbVie to maintain dominance." Citron believes the "changes to drug pricing are in the early innings and AbbVie just got up to bat." Reference Link