Stockwinners Market Radar for August 15, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:09 EDT 58.com sees Q3 revenue RMB3.45B-RMB3.55B

17:53 EDT Google introduces transparency report for political ads - Alphabet's Google said in a blog post that it is adding another new section to its Transparency Report: Political Advertising on Google. The company said that, after it took steps to increase transparency in political advertising, it is continuing to roll out new transparency features with the addition of the political advertising report as well as a new political Ad Library. The new political advertising report shows who buys federal election ads in the U.S., how much money is spent across states and congressional districts on such ads, and who the top advertisers are overall. In addition, Google's new, searchable election Ad Library shows things like which ads had the highest views, what the latest election ads running on its platform are, and deep dives into specific advertisers' campaigns. In addition, the data from the report and Ad Library is publicly available on Google Cloud's BigQuery. Reference Link

17:45 EDT Rogers Communications declares quarterly dividend of CAD 48c per share - The quarterly dividend declared today will be paid on October 3, 2018 to shareholders of record on September 14, 2018.

17:37 EDT Align Technology VP Stuart Hockridge sells over $1M in company stock - Align Technology VP Stuart Hockridge disclosed in a filing that he had sold 2,753 shares at an average price of $366.73 per share on August 15. The total transaction value of the sale was $1,009,608.

17:28 EDT Corporacion America Airports reports July passenger traffic up 7.8% - Corporacion America Airports said that total passenger traffic in July 2018 increased by 7.8% compared to the same period of 2017, primarily reflecting growth in Armenia, Peru, Brazil and Argentina, with increases of 14.3%, 10.9%, 10.0% and 8.3%, respectively. In Brazil, passenger traffic at Brasilia Airport increased 10.7% in July 2018, driven by additional frequencies in existing routes to several domestic destinations by Gol, Latam and Azul. In Argentina, despite more challenging macro conditions, traffic increased 8.3% YoY, mainly driven by a 17.7% growth in domestic traffic, partially offset by declines of 5% and 16.5% in international and transit passengers, respectively. During the month, new domestic routes were added by Fly Bondi and Avianca. Traffic also benefitted from several new frequencies to existing routes, both domestic and international that were added over the past 12-months. Armenia reported an increase of 14.3%, resulting mainly from a particularly higher load factor during the summer season. Moreover, traffic continued to grow in Peru, although at a lower pace reflecting the ramp up of Viva which began operations in May 2017. CAAP's airports in Italy reported a 2.3% YoY increase in traffic, mainly due to the opening of new international and domestic flights, and the addition of new frequencies taking place during the Italian summer season. In particular, Pisa airport saw a considerable increase in passengers travelling to Russia, and at Florence Airport the new route to Lisbon, Portugal, opened last June, continued to perform very well. In Uruguay, passenger traffic declined 6.1% mainly due to currency depreciation in neighboring countries Brazil and Argentina, which resulted in a decrease in passengers.

17:21 EDT Acxiom CFO sells 72,783 common shares - In a regulatory filing, Acxiom CFO disclosed the sale of 72,783 common shares of the company at a price of $43.10 per share.

17:02 EDT Brookfield Property reminds GGP shareholders to make, submit elections - Brookfield Property Partners (BPY) issued a reminder to GGP (GGP) common shareholders to make elections for their preferred form of the special dividend to be issued in connection with BPY's acquisition of GGP prior to the election deadline of 5:00 p.m. ET on August 21, 2018. GGP common shareholders of record as of the end of trading on the New York Stock Exchange on July 27, 2018 are eligible to make this election and registered shareholders have previously been mailed an election form. Shareholders of record who hold GGP shares in "street name" through a bank, brokerage firm or other nominee, should instruct such nominee what election to make on your behalf by carefully following the instructions provided by your nominee. It is important to note that you may be subject to an earlier deadline by your nominee for making your elections. An election will not be made on your behalf absent your instructions. Brookfield Property said it is "strongly recommended" that shareholders of record make two elections: An election to receive cash and/or equity, and a further election of the type of equity dividend or class A stock of Brookfield Property REIT Inc.

16:42 EDT Insperity COO Arthur Arizpe sells $565K in company stock - Insperity COO Arthur Arizpe disclosed in a filing that he had sold 5,000 shares of company stock at an average price of $113 per share on August 14. The total transaction value of the sale was $565,000.

16:33 EDT Dova Pharmaceuticals CEO Alex Sapir purchases almost $500K in stock - Dova Pharmaceuticals CEO Alex Sapir disclosed in a filing that he had purchased 21,700 shares of company stock at $22.83 per share on August 14. The total transaction value of the purchase was $495,411.

16:31 EDT Newpark Resources names Edward Earle CAO, CCO - Newpark Resources announced that, after an extensive search, Edward "Chip" Earle will assume the role of Vice President - General Counsel, Chief Administrative Officer, Chief Compliance Officer, and Secretary, effective September 1, 2018. Earle will succeed Mark Airola, who announced his retirement in April 2018. During a transition, Earle will serve as Vice President and Special Advisor to the CEO from August 15, 2018 until September 1, 2018. Airola will then serve as Senior Vice President and Special Advisor to the CEO from September 1, 2018 until his retirement on September 30, 2018.

16:25 EDT Movado agrees to acquire MVMT - Movado Group announced that it has entered into a definitive agreement to acquire MVMT Watches Inc., the owner of MVMT, a global aspirational lifestyle brand. The purchase price is comprised of an initial payment of approximately $100M, or approximately $85M net of tax benefits that are anticipated to be generated from the acquisition, and two future contingent payments that combined could total up to an additional $100M before tax benefits. The exact amount of the future payments will be determined by MVMT's future financial performance with no minimum required future payment. The acquisition will be funded through cash and borrowings under the company's revolving credit facility. The purchase price will be subject to working capital and other closing adjustments. The closing of the acquisition is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close on or about October 1, 2018.

16:20 EDT GSE Systems receives two contracts worth a combined $8M to update simulators - GSE Systems announced receipt of two contracts to update nuclear power plant simulators in Slovakia and Korea. The first contract is from Slovenske Elektrarne to update the Mochovce unit 3&4 simulator, with GSE as the prime contractor for the project. Slovenske Elektrarne is completing construction of two VVER-440 reactors at the Mochovce site in Slovakia. GSE won an international competition to provide the new full scope simulator in 2009 and delivered the simulator in 2013. It has been in use for enhanced training by plant operators, enabling them to become familiar with the new plant design and operating schemes. As the plant nears commissioning, the simulator needs to be updated to reflect the final, as-built design. The value of the contract is approximately $6.5M and will be implemented over a 16-month schedule. Mochovce is a VVER-440 plant design with a modern Siemens/Areva control system. Mochovce Unit 3 is scheduled to go on line in 2019. The second contract is with Greatus in Seoul, Korea, to upgrade Korea Hydro & Nuclear Power's Kori Unit 2 simulator. Kori Unit 2 originally was built byin 1998 and upgraded in 2006. The new project will update the plant models to GSE's latest technology, including the Jade simulation platform along with RELAP5-HD, Remark, and PSA-HD to model the reactor core and thermohydraulic systems as well as severe accident scenarios. The Kori Unit 2 simulator award is worth approximately $1.5M and will be implemented over the next 17 months.

16:17 EDT QAD Inc CEO Karl Lopker granted indefinite medical leave of absence - QAD Inc. announced changes to its management team and Board of Directors. At his request, the QAD Board of Directors has granted Karl Lopker, CEO, an indefinite medical leave of absence effective immediately. Lopker will remain a member of the Board of Directors. Pam Lopker, President, will assume Lopker's management responsibilities during his leave of absence. To assist Lopker in her added responsibilities, the Board of Directors has created an interim Office of the COO that will be jointly filled by Anton Chilton, Chief, Global Field Operations, and Daniel Lender, CFO, which will report to Lopker. The Board of Directors also named Peter van Cuylenburg to serve as Chairman of the Board during this period to reduce Lopker's Board workload.

16:17 EDT Community Bank System raises quarterly dividend 12% to 38c per share - Community Bank System announced that it has declared a quarterly cash dividend of 38c per share on its common stock. The dividend will be payable on October 10, 2018 to shareholders of record as of September 14, 2018. The 38c cash dividend represents a 4c, or 12%, increase and an annualized yield of 2.34% based on the closing share price of $64.89 on August 14, 2018.

16:15 EDT Carpenter Technology raises quarterly dividend to 80c from 72c per share - The quarterly cash dividend is payable September 6, 2018, to shareholders of record on August 28, 2018.

16:11 EDT Credit Acceptance extends revolving secured warehouse facility - Credit Acceptance Corporation announced that it extended the date on which its $100M revolving secured warehouse facility will cease to revolve from August 18, 2019 to August 17, 2021. The maturity of the facility was also extended from August 18, 2021 to August 17, 2023. The interest rate on borrowings under the facility has been decreased from LIBOR plus 225 basis points to LIBOR plus 190 basis points. There were no other material changes to the terms of the facility. As of August 15, 2018, the company did not have a balance outstanding under the facility.

16:09 EDT Cisco CFO says seeing 'solid demand' for products and solutions - "Q4 was another quarter of broad-based strength across our portfolio reflecting our strong execution and momentum. We delivered record quarterly revenue, up 6%, and non-GAAP EPS, up 15%. We are seeing solid demand for our products and solutions while continuing to make progress in transforming our business model and driving long-term shareholder value," said Kelly Kramer, CFO of Cisco.

16:08 EDT Cisco reports Q4 non-GAAP total gross margin of 62.9% vs. 63.7% last year - Cisco reports that on a GAAP basis, total gross margin, product gross margin, and service gross margin were 61.7%, 60.2%, and 66.0%, respectively, as compared with 62.2%, 60.3%, and 67.8%, respectively, in the fourth quarter of 2017. On a non-GAAP basis, total gross margin, product gross margin, and service gross margin were 62.9%, 61.5%, and 67.1%, respectively, as compared with 63.7%, 61.9%, and 68.8%, respectively, in the fourth quarter of 2017.

16:07 EDT Cisco CEO says had 'very strong finish' to FY18 - "We had a very strong finish to a great year and generated our highest quarterly revenue of $12.8 billion. Our results demonstrate a combination of strong customer adoption of our latest innovations, the ongoing value customers see in our software and subscription offerings, and excellent execution across our customer segments and geographies. Our strategy is working and we believe that are well-positioned to capture growth across our portfolio with our pipeline of innovation," said Chuck Robbins, Chairman and CEO of Cisco.

16:06 EDT Best Buy to acquire GreatCall for $800M in cash - Best Buy announced that it has signed a definitive agreement to acquire GreatCall, Inc. for $800M in cash. GreatCall is a provider of connected health and personal emergency response services to the aging population, with more than 900,000 paying subscribers. "Since the launch of GreatCall, we've focused on providing the very best technology and services to the aging population, giving them and their families the peace of mind that comes with the right technology and support to help keep them safe and improve their lives," said David Inns, CEO of GreatCall. "We are excited to partner with Best Buy to serve the active aging population on a bigger scale. GreatCall is already a growing, profitable business with annual revenue in excess of $300M. By joining forces, we can do even more for this population, combining our products, services and expertise with Best Buy's customer focus and scale to meaningfully expand our reach." GreatCall will maintain its San Diego headquarters, as well as its Care Centers in Carlsbad, California, and Reno, Nevada. Inns, who has been with GreatCall since its formation in 2006, will remain as CEO. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by the end of Best Buy's fiscal 2019 third quarter. The company expects the impact of the acquisition on its non-GAAP earnings to be neutral in fiscal 2019 and fiscal 2020 and accretive by fiscal 2021.

16:02 EDT Six Flags announces launch of new loyalty program - Six Flags Entertainment announced a new "Members Only" rewards program for its guests. "Six Flags Membership Rewards allows Members to earn points towards free food, souvenirs, park tickets, and one-of-a-kind in-park experiences each time they visit the park, go on rides, see a show, or make a purchase," the company said. Members can also earn additional bonus points for participating in contests, taking surveys and reading newsletters, Six Flags added.

16:00 EDT Six Flags launches preeminent new loyalty program - Six Flags Entertainment announced an exclusive new "Members Only" rewards program for its most loyal guests. Six Flags Membership Rewards allows Members to earn points towards free food, souvenirs, park tickets, and one-of-a-kind in-park experiences each time they visit the park, go on rides, see a show, or make a purchase. Members can also earn additional bonus points for participating in contests, taking surveys and reading Six Flags newsletters.

15:30 EDT Jensyn Acquisition trading resumes

15:08 EDT Caesars among three casino operators approved for online gaming in Pennsylvania - The Pennsylvania Gaming Control Board today awarded Interactive Gaming Certificates to three casino license holders. The approvals were the first made by the Board for Interactive Gaming in its plan to consider all nine petition requests by casino operators at its August, September and two October 2018 public meetings. The Board has yet to establish a date in which Interactive Gaming will commence. Gaining approval today were: Caesars Entertainment's Chester Downs and Marina, operator of Harrah's Casino Philadelphia; Greenwood Gaming & Entertainment, Inc., operator of the Parx; and Mount Airy, operator of the Mount Airy Resort Casino. Reference Link

14:40 EDT Riot Blockchain comments on subpoena, talks with SEC - In a regulatory filing earlier, Riot Blockchain stated: "During 2018 the company received several comment letters from the Division of Corporation Finance and the Division of Investment Management of the Securities and Exchange Commission. The Comment Letters have been issued on the company's periodic reports on Form 10-Q for the quarter ended March 31, 2018, Annual Report on Form 10-K for the fiscal year ended December 31, 2017, amendment to Annual Report on Form 10-K/A for the fiscal year ended December 31, 2017 and current report on Form 8-K filed October 4, 2017. The comments raise matters related to, among other things, the unsettled nature of accounting treatment for the company's cryptocurrency mining and the fair value method selected by the company (as opposed to intangible accounting methods proposed by some experts) and applicability to the company of the Investment Company Act of 1940, particularly as relates to the company's minority interest in goNumerical, Inc. a/k/a Coinsquare. On July 30, 2018 the company received a letter from the SEC that the Commission has issued an Order Directing Examination and Designating Officers Pursuant to Section 8(e) of the Securities Act or 1933, with respect to the following registration statements: (1) a Form S-8 filed on July 19, 2017 (File No. 333-219357); (2) a Form S04 filed January 5, 2018 (*File No. 333-222450); and a Form S-3 filed on July 10, 2018 (File No. 333-226111). The Letter states 'While the Section 8(e) examination is pending, the Division of Corporation Finance will not take any further action on the Registration Statements, and all communications with regard to the Registration Statements and the Section 8(e) examination should be made to the Commission's Division of Enforcement'. The company is engaged in conversations with the staff of the Division of Enforcement, Division of Investment Management and Division of Corporation Finance about their concerns and intends to cooperate fully with the examination."

14:21 EDT Citi reports July credit loss 2.66% vs. 2.60% last month - Reports July 30-plus day delinquency rate 1.47% vs. 1.48% last month.

13:36 EDT Citron sees Tilray getting 'support' after Constellation bets big in cannabis - In a report published today, Citron Research called Tilray (TLRY) "best in class" and said it should be "next to get support" after Constellation Brands (STX; STX.B) announced that it will increase its ownership interest in Canopy Growth (CGC). Further, Citron argued that Tilray's stock could be "trading at $45 a share" given the multiple assigned to its Canadian peer. 'NEXT TO GET SUPPORT': Andrew Left's Citron Research said in a report published today that it sees Tilray as "next in line" in a building cannabis industry. "Citron believes that Tilray is best in class and if it were to get the same multiple we are assigning to Canopy, the stock would be trading at $45 a share," the report read. Overall, Citron believes Tilray will be the next "pot stock" to go "much high[er]" given its best in class investors, strategic partnerships with big pharma such as Novartis (NVS), its four clinical trials and licenses for cultivation in Portugal and Canada, availability of product in 10 countries, growing space, and its partnership with Noweda, which is the largest pharmacy in Germany. Additionally, the report noted that Tilray was the first cannabis company to launch an IPO with a real U.S. bank and on the Nasdaq. "Forget about Bitcoin mania, today solidified that Weed is not only real, but also investible despite stretched valuations," Citron contended. CONSTELLATION INVESTMENT IN CANOPY: This follows Constellation Brands' announcement this morning that it will increase its ownership interest in Canada's Canopy Growth to 38% by acquiring 104.5M shares, with the option of raising its stake further to 50%. As a result, Canopy Growth will "immediately upon closing have proceeds of approximately C$5B to bolster its leadership position in the global cannabis industry," the companies stated. The beer and wine maker said it remains committed to its investment grade rating and therefore has no plans to engage in mergers, acquisitions or share repurchase activity for about 18-24 months post the deal closing. PRICE ACTION: In afternoon trading, shares of Tilray have jumped over 20% to $29.26, while Canopy stock trading in New York has gained more than 27% to $31.33.

13:32 EDT MiMedx provides additional information, context to WSJ article - MiMedx Group provided additional background and context to certain points, including third party statements, in an article published by The Wall Street Journal on August 14, 2018: MiMedx products are manufactured according to current Good Tissue Practices standards, pursuant to the FDA regulations specified in 21 CFR 1271, which are the requirements and guidelines the Company must follow. MiMedx is also in compliance with the American Association of Tissue Banks' 14th standard, of which the Company is a fully accredited member in good standing.In addition, certain MiMedx products are marketed as cellular and tissue based products under Section 361 of the Public Health Service Act until either a biologics license application by the Company is approved or the FDA's enforcement discretion under the November 2017 guidance document1 ends. Since the 2016 inspection report from the FDA referenced by the WSJ, MiMedx has continued its transition to cGMP compliance for certain products as it conducts clinical trials to seek approval for certain indications under a BLA filing for its micronized dehydrated Amnion/Chorion Membrane injection.In terms of the clinical evidence supporting the Company's products, MiMedx continues to build its compendium of clinical studies, including numerous randomized controlled studies, to support the use of EpiFix. In addition, the Company has three ongoing investigational new drug programs with the FDA covering clinical studies intended to support an eventual BLA for micronized dHACM injection. As an example, interim results from a Phase 2B multicenter, randomized controlled trial evaluating the use of micronized dHACM injection as a treatment for Plantar Fasciitis were recently published in Foot and Ankle International. The interim results reflected statistically significant improvement in pain and foot function compared to the placebo control group. MiMedx also began enrolling patients into its Phase 3 Plantar Fasciitis trial in January 2018. Selling micronized amniotic tissue-based products is a broad industry matter now covered by a finalized guidance document1 from the FDA on homologous use and minimal manipulation of HCT/Ps. The guidance stated that all micronized amniotic products would require a biologics license to be lawfully marketed in the United States, and that FDA would use its enforcement discretion to provide a 36-month transition period. MiMedx is committed to the transition process as described in the November 2017 guidance. In the meantime, and until the end of the transition period, MiMedx continues to sell its micronized allograft products as HCT/Ps in the United States. MiMedx continues to make progress on its market expansion objectives and clinical trial programs while continuing to maintain positive operating cash flow with no outstanding long-term debt. The Board and management team remain focused on positioning MiMedx to capitalize on the full array of opportunities presented by the Company's processing capabilities, clinical science, customer relationships and scale. As previously disclosed, the MiMedx Audit Committee is conducting an independent internal investigation into current and prior-period matters concerning sales and distribution practices and other matters. The Audit Committee is working diligently with its advisors to complete the investigation, and the Company is also working to prepare its financial statements for audit and regain compliance with SEC reporting obligations as soon as practicable.

13:24 EDT Agenus receives second milestone payment from Merck - Agenus (AGEN) announced that Merck (MRK) initiated a Phase I clinical trial of an undisclosed antibody candidate discovered by Agenus, under the two companies license and research collaboration. Based on this milestone and under the terms of the agreement, Agenus received a $4M milestone payment and is entitled to receive up to an additional $95M in success milestones from Merck. This milestone is the second under the collaboration, originally announced in April 2014. According to the terms of the agreement, Merck is responsible for all product development expenses for the antibody candidate, and Agenus is eligible to receive up to an additional $95M in milestone payments, as well as royalties on worldwide product sales.

13:17 EDT Nortech Systems CEO Rich Wasielewski to retire - Rich Wasielewski, president and CEO of Nortech Systems, announced he will be retiring. Nortech Systems' board of directors has retained an executive recruitment firm to assist in its national search to identify Wasielewski's replacement. He will continue to lead the company during the search and subsequent transition period. Wasielewski has served as Nortech's president and chief executive officer since 2014.

12:54 EDT Diebold says appeals court reverses ITC decision in Nautilus Hyosung patent case - Diebold Nixdorf announced that the U.S. Court of Appeals for the Federal Circuit reversed the decision issued by the International Trade Commission against the company in a patent dispute against Nautilus Hyosung. "The Federal Circuit agreed with Diebold Nixdorf that Hyosung's sole remaining patent in its case against the company is invalid and unenforceable. The Federal Circuit's decision is a victory for the company, reversing the judgment of the ITC that Hyosung's patent was valid and infringed by Diebold Nixdorf," the company stated. Diebold noted that the parties will have an opportunity to appeal the Federal Circuit's decision to the United States Supreme Court.

12:45 EDT American Express reports July write-off rate 2.2% vs. 2.0% last month - Reports July 30 days past due loans 1.3% vs. 1.3% last month.

12:37 EDT Monmouth Real Estate acquires industrial building in Charleston, SC for $47M - Monmouth Real Estate Investment Corporation announced the acquisition of a brand new 265,318 square foot industrial building located at 6850 Weber Boulevard, N. Charleston, SC at a purchase price of $47.17M. The property is net-leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated on approximately 50 acres.

12:10 EDT Ameriprise to pay $4.5M for not safeguarding client assets - The Securities and Exchange Commission today announced that Ameriprise Financial Services Inc. will pay $4.5M to settle charges that it failed to safeguard retail investor assets from theft by its representatives. According to the SEC's order, five Ameriprise representatives committed numerous fraudulent acts, including forging client documents, and stole more than $1M in retail client funds over a four-year period. The SEC found that Ameriprise, a registered investment adviser and broker-dealer, failed to adopt and implement policies and procedures reasonably designed to safeguard investor assets against misappropriation by its representatives. The SEC's order charged Ameriprise with failing to have reasonably designed policies and procedures to prevent its representatives from misappropriating client funds and failing to reasonably supervise the five representatives. Without admitting or denying the findings, Ameriprise agreed to be censured and pay a penalty of $4.5M.

12:00 EDT Performance Food Group falls -11.4% - Performance Food Group is down -11.4%, or -$4.30 to $33.35.

12:00 EDT Macy's falls -13.4% - Macy's is down -13.4%, or -$5.59 to $36.23.

12:00 EDT KMG Chemicals rises 15.7% - KMG Chemicals is up 15.7%, or $10.50 to $77.34.

11:40 EDT Sigma Designs trading resumes

11:09 EDT U.S. Bancorp names Jodi Richard chief risk officer - U.S. Bank announced that industry veteran Jodi Richard will become its new vice chairman and chief risk officer, succeeding P.W. Parker, who previously announced his intention to retire this fall. In her new role, Richard will oversee the company's Risk Management and Compliance efforts as it continues its legacy of developing and maintaining strong risk management capabilities. The handoff between leaders will begin in the next few weeks to ensure a smooth transition, with an effective date of Oct. 1. Richard will join the company's Managing Committee and will report to chairman, president and CEO Andy Cecere in her new role. Richard is currently the company's chief operational risk officer, overseeing operational risk management and independent testing functions, which encompasses everything from operational loss mitigation and risk control assessment to consumer complaint management, fraud risk management, third party risk management, data protection and governance, model risk, payments risk, enterprise security and crisis management.

11:07 EDT First Interstate, Northwest Bancorp announce Northwest shareholder approval - First Interstate BancSystem and Northwest Bancorporation announced that Northwest's shareholders have approved the proposed merger of Northwest with and into First Interstate at a special meeting of Northwest shareholders on August 14, 2018. All approvals necessary to complete the merger, including all regulatory approvals, have been received. The merger is expected to close on August 16, 2018, subject to satisfaction of customary closing conditions. As previously announced, upon completion of the merger, Northwest shareholders will be entitled to receive 0.516 shares of First Interstate Class A common stock for each share of Northwest common stock they hold. The shares received by Northwest shareholders are expected to qualify as a tax-free exchange.

10:41 EDT Wells Fargo double-upgrades Nvidia ahead of second quarter results - Wells Fargo analyst Aaron Rakers upgraded Nvidia (NVDA) two notches to a Buy-equivalent rating from a Sell-equivalent one, based on a long-term view of its competitive position in gaming and expanding growth opportunities in data center and autonomous vehicles. The company is expected to report second fiscal quarter after the market close on August 16, with a conference call scheduled for 5:30 pm ET. NVIDIA DOUBLE-UPGRADED AT WELLS FARGO: In a research note to investors, Wells Fargo's Rakers upgraded Nvidia two notches to Outperform from Underperform and raised his price target to $315 from $140, based on a longer-term view of the company's competitive position in gaming and expanding growth opportunities in data center and autonomous vehicles. While noting that he expects Nvidia to report positive second quarter results, Rakers said he believes the company is well positioned to continue to leverage/expand its platform story. Additionally, the analyst pointed out that he is positive on Nvidia given its new Turing GPU architecture, new Quadro RTX product cycle commencing in the fourth quarter, expansion in Artificial Intelligence, and significant government-funded projects for next-generation supercomputers. While Rakers acknowledged that concerns over gaming GPU channel inventory levels vis-a-vis weakening crypto-currency mining demand could persist, and thus result in a perceived delayed launch of consumer Volta solutions, he thinks these concerns are well-understood and miss the long-term architectural shifts and secular growth drivers moving in Nvidia's favor. WHAT TO WATCH FOR INTO EARNINGS: During the company's last earnings call, Nvidia said it sees second quarter revenue of $3.1B plus/minus 2%, with consensus at $2.95B. CFO Colette Kress also said that the company expects cryptocurrency-related revenue to drop 65% to about $100M in the second quarter, according to Reuters. Looking ahead, Bank of America Merrill Lynch analyst Vivek Arya said in a research note on June 14 that Nintendo's (NTDOY) unveiling of potentially "platform-defining titles" at the E3 show could drive more sustained demand for the Switch and could accelerate demand for Nvidia GPUs in 2019. Meanwhile, Nvidia has launched its Turing GPU architecture, featuring new RT Cores to accelerate ray tracing and new Tensor Cores for Artificial Intelligence inferencing which, together for the first time, make real-time ray tracing possible. The company also unveiled its initial Turing-based products, namely the NVIDIA Quadro RTX 8000, Quadro RTX 6000 and Quadro RTX 5000 GPUs. Last month, the company also announced that Bosch and Daimler (DDAIF) have selected and signed an agreement with Nvidia as a supplier for the artificial intelligence platform they need as the companies work on putting highly automated and driverless vehicles on urban streets. Under this contract, Nvidia will provide its Drive Pegasus platform powered by high performance AI automotive processors along with system software that will process the vehicle-driving algorithms generated by Bosch and Daimler using machine-learning methods. PRICE ACTION: In morning trading, shares of Nvidia have dropped over 1% to $257.94.

10:32 EDT Helios and Matheson: Creating a 'more sustainable path' for MoviePass - "We far exceeded our 2017 expectation for Helios and MoviePass," said Ted Farnsworth, Helios chairman and CEO. "In our agreement to acquire MoviePass in August 2017, MoviePass had a performance milestone to achieve 100,000 subscribers in one year. We were all surprised to see the subscriber growth surpass that milestone in one week. It is rare to see surprises of this magnitude. We've reached an important point in our company where, after a year of research and analysis, we believe we have fine-tuned the MoviePass business model to fit our unique growth rate. Under the new plan, we believe we are creating a more sustainable path for MoviePass and its loyal subscribers."

10:17 EDT Macy's says SG&A dollars for the year expected to be higher than last year - CFO Paula Price says Northstar strategy and strong execution are driving improved performance. Says saw 3% increase in international tourist sales in Q2. Says total transactions were up 50bps for 1H. Says ended quarter with inventory down 40bps. Expects inventory to be up by the end of Q3 amid preparations for the holiday season, but to be down by end of the fiscal year. Says continue to invest in strategic initiatives. Says gaining traction earlier than expected. Says continues to be disciplined about managing inventory. Expect gross margin rate as a percent of sales to be slightly up for the year. Anticipates more delivery expense impact on gross margin rate in the third quarter of this year compared to last. Says SG&A dollars for the year are expected to be higher than last year due to investments in the business and in support of the expected sales growth. Expects it to be more pronounced in the third quarter than in the fourth quarter because the fourth quarter benefited from 1 less week than last year. Says credit card revenue is now expected to be $720M to $735M. Says interest expense now assumed to be approximately $245M Says expected annual effective tax rate is now expected to be 23%.

10:04 EDT Medtronic announces commercial launch of IN.PACT Admiral DCB in Japan - Medtronic plc announced full commercial launch of the IN.PACT Admiral Drug-Coated Balloon in Japan. The news follows the completion of a post-market clinical trial, which enrolled 300 subjects. IN.PACT Admiral received approval last year from the Japanese Ministry of Health, Labor and Welfare for the treatment of peripheral artery disease in the upper leg - specifically, in the thigh and behind the knee. The MHLW also granted reimbursement approval for the IN.PACT Admiral in December of 2017. IN.PACT Admiral SFA Japan demonstrated 93.9 percent primary patency in the DCB group as compared to 46.9 percent in the PTA group at one year based on Kaplan-Meier Estimate.

10:00 EDT China Southern Airlines falls -8.9% - China Southern Airlines is down -8.9%, or -$2.93 to $30.07.

10:00 EDT Performance Food Group falls -14.1% - Performance Food Group is down -14.1%, or -$5.30 to $32.35.

10:00 EDT KMG Chemicals rises 15.2% - KMG Chemicals is up 15.2%, or $10.16 to $77.00.

09:51 EDT Macy's says Backstage expansion is 'continuing at pace' - Macy's CEO Jeff Gennette says had another "strong" quarter. Says feels good about progress company made. Says encouraged by momentum heading into 2H. Says recipe for success is healthy stores, robust ecommerce business and strong mobile app. Says digital business clocked another quarter of double-digit growth. Says continued to improve execution in the quarter. Says Bluemercury continued to perform well. Says "pleased" with loyalty program and bronze tier level has more than 1M new members. Says Backstage expansion is continuing at pace. Says on track to complete 120 openings this year. Says expansion of online offerings also on track. Says Growth 50 stores are performing as expected. Says sees an outside improvement in customer satisfaction in Growth 50 stores. Says making investments in stores across the fleet. Says at-your-service centers and mobile checkout will be in all stores. Says activating virtual reality furniture experiences in 60 stores in Q3. Comments taken from Q2 earnings conference call.

09:47 EDT Marcus falls -9.1% - Marcus is down -9.1%, or -$3.65 to $36.55.

09:47 EDT Performance Food Group falls -14.2% - Performance Food Group is down -14.2%, or -$5.35 to $32.30.

09:47 EDT KMG Chemicals rises 14.6% - KMG Chemicals is up 14.6%, or $9.75 to $76.59.

09:45 EDT Union Pacific COO Cameron Scott to retire - Executive Vice President and COO Cameron Scott announced his retirement, effective February. He will serve as a company vice president until then. Tom Lischer has been appointed to executive vice president, Operations. He succeeds Scott.

09:30 EDT BioDelivery Sciences announces expanded preferred coverage for Belbuca - BioDelivery Sciences announced that a leading U.S. pharmacy benefit manager has added Belbuca buccal film to its national preferred formulary list effective August 15. Belbuca is currently indicated in the U.S. for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.

09:17 EDT GSK: Monthly injection for HIV effective vs. standard daily pills in study - GSK (GSK) subsidiary ViiV Healthcare announced "positive" headline results from its global, phase III ATLAS study of a long-acting, injectable two-drug regimen for the treatment of HIV. ATLAS was designed to establish if HIV-1-infected adult participants who had maintained viral suppression for at least six months, on a daily oral regimen comprised of two nucleoside reverse transcriptase inhibitors plus a third agent, maintained similar rates of viral suppression upon switching to the investigational, two-drug, long-acting, injectable regimen of cabotegravir and rilpivirine, compared with continuing the three-drug oral regimen. The study showed long-acting cabotegravir and rilpivirine, injected once a month, had similar efficacy to a standard of care, daily, oral three-drug regimen at Week 48. The injectable treatment regimen met the primary endpoint for non-inferiority. Overall safety, virologic response and drug resistance results for the injectable regimen were consistent with results from the phase II LATTE and LATTE-2 studies. Detailed results from the study will be presented at an upcoming scientific meeting. Headline results from FLAIR, a second pivotal trial designed to evaluate a long-acting, injectable regimen of cabotegravir and rilpivirine in treatment-naive individuals, are expected later this year. This investigational, long-acting, injectable regimen is being co-developed as part of a collaboration with Janssen Sciences Ireland UC (JNJ), and is not approved by regulatory authorities anywhere in the world.

09:08 EDT Terex elects CEO John Garrison to succeed David Sachs as chairman - Terex announced that John Garrison, Terex's president and CEO, will also assume the position of chairman of the board effective immediately. Garrison succeeds David Sachs who has been non-executive chairman since January 2016 and was previously lead director since May 2013. With the appointment of Garrison as chairman, Sachs will again assume the role of lead director.

09:06 EDT Ocean Power signs agreement for feasibility study with Enel Green Power - Ocean Power announced that the company signed an agreement with Enel Green Power, a subsidiary of Enel Group. Under the terms of the contract, OPT will evaluate a PB3 PowerBuoy deployment along the coast of Chile through a detailed feasibility study of the PowerBuoy as an offshore autonomous platform hosting oceanographic sensor systems.

09:05 EDT Fly Intel: Pre-market Movers - HIGHER: Canopy Growth (CGC), up 40% after a $4B investment in the company by Constellation Brands (STZ). Constellation class A shares are down 4% following the investment news... Energen (EGN), up 7% after agreeing to be acquired by Diamondback Energy (FANG). Diamondback is down 7.5% after the announcement... GlaxoSmithKline (GSK), up 1% after its HIV treatment was as effective as standard daily pills in a clinical trial. UP AFTER EARNINGS: PetIQ (PETQ), up 13%. DOWN AFTER EARNINGS: Performance Food Group (PFGC), down 15%... Casa Systems (CASA), down 25%. LOWER: Carrizo Oil & Gas (CRZO), down 5% after a 9.5M share spot secondary priced at $23.00 per share... ViewRay (VRAY), down 1% after a 16.22M share spot secondary priced at $9.25 per share... Western Digital (WDC), down 3% after being downgraded to market perform from outperform at Cowen.

09:02 EDT Comtech receives $3M delivery order for Satellite Earth Station equipment - Comtech Telecommunications announced that during 4Q18, its Tempe, Arizona-based subsidiary, Comtech EF Data Corp., which is part of Comtech's Commercial Solutions segment, received a delivery order in support of the recently awarded contract from the U.S. Naval Warfare Systems Command. This latest delivery order, against the $59M indefinite delivery/indefinite quantity contract, is for $3M. The delivery order specified Comtech EF Data's SLM-5650B Satellite Modems and firmware upgrades. The SLM-5650B Satellite Modem is Comtech's latest generation modem product targeted for critical government and military applications. The SLM-5650B leverages the heritage and feature set of the SLM-5650A modem. The SLM-5650B supports backwards compatibility/inter-operability for existing SLM-5650A networks while providing enhanced performance and an expanded feature set. The commercially available modems will support satellite communications and interoperability across the Navy's platforms and shore sites.

09:02 EDT Lionsgate and Nordisk sign multiyear output deal in Scandinavia - Lionsgate has entered a new multiyear output deal with longstanding partner Nordisk Film in Scandinavia. The longterm agreement encompasses a deep pipeline of upcoming titles from Lionsgate and its Summit Entertainment label.

08:55 EDT Capital One reports July charge-offs 4.39% vs. 4.40% last month - Reports July 30-plus day delinquency rate 3.46% vs. 3.32% last month.

08:53 EDT Bank of America reports July default rate 2.57% vs. 2.66% last month - Reports 30-plus day delinquency rate 1.55% vs. 1.55% last month.

08:49 EDT JPMorgan reports July net credit losses 2.30% vs. 2.39% last month - Reports July 30-plus day delinquency rate 1.10% vs. 1.11% last month.

08:46 EDT DryShips announces sale of Panamax drybulk carrier - DryShips announced that it has entered into an agreement with an unaffiliated buyer for the sale of one of its 2001-built Panamax drybulk carrier. The vessel is scheduled for delivery to its buyer no later than the end of this month. The company expects to realize a gain on vessels sales compared to the book value of this asset.

08:37 EDT KMG Chemicals trading resumes

08:33 EDT CEL-SCI says IDMC recommends continuation of Phase 3 head and neck cancer study - CEL-SCI announced that the Independent Data Monitoring Committee, or IDMC, for the company's pivotal Phase 3 head and neck cancer study of its investigational immunotherapy Multikine has completed its recent review of the Phase 3 study data. The data from all 928 enrolled patients were provided to the IDMC by the clinical research organization responsible for data management of this Phase 3 study. The IDMC made the following recommendation: The IDMC recommendation is to continue the trial until the appropriate number of events have occurred. IDMCs are committees commonly used by sponsors of clinical trials to protect the interests of the patients and the integrity of the study data in ongoing trials, especially when the trials involve patients with life threatening diseases, and when, as in cancer clinical trials, they extend over long periods of time.

08:30 EDT Cabot Microelectronics to acquire KMG Chemicals for $1.6B - Cabot Microelectronics (CCMP) and KMG Chemicals (KMG), a global provider of specialty chemicals and performance materials, have entered into a definitive agreement under which Cabot Microelectronics will acquire KMG in a cash and stock transaction with a total enterprise value of approximately $1.6B. Under the terms of the agreement, KMG shareholders will be entitled to receive, per KMG share, $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock, which represents an implied per share value of $79.50 based on the volume weighted average closing price of Cabot Microelectronics common stock over the 20-day trading period ended on August 13. The transaction has been unanimously approved by the board of both companies and is expected to close near the end of calendar year 2018. The combined company is expected to have annual revenues of approximately $1B and approximately $320M in EBITDA, including synergies, extending and strengthening Cabot Microelectronics' position. The transaction is subject to the satisfaction of customary closing conditions, including HSR clearance and approval by KMG shareholders. Cabot Microelectronics expects to finance the cash portion of the transaction consideration through a combination of existing cash and additional debt supported by commitments from its key lenders.

08:22 EDT Macy's CEO says strategic initiatives 'gaining traction' - "Macy's, Inc. delivered strong performance in the first half of the year, and we are pleased to report our third consecutive quarter of comparable sales growth. Macy's, Bloomingdale's and Bluemercury all performed well. It is encouraging to see the continued strengthening of our brick & mortar business where we saw trend improvements across the portfolio, led by our Growth50 stores. The combination of healthy stores, robust e-commerce and a great mobile experience is Macy's recipe for success. We are focused on improving our customer journey every step of the way because we know that our customers expect a great experience whenever and wherever they engage with our brands," said Jeff Gennette, Macy's, Inc. chairman and CEO. "We also continue to be disciplined with inventory management, which allows us to give our customers more fashion and freshness, while increasing sales and improving gross margin. Our strategic initiatives are gaining traction. They contributed to our first half results and will continue to have a positive impact on our performance in the back half of the year. This, combined with continued strong execution and a healthy consumer spending environment, gives us confidence to raise sales and earnings guidance for fiscal 2018."

08:21 EDT Macy's reports flat comparable sales on owned basis for Q2 - The company reported comparable sales on an owned basis that were flat in the second quarter of 2018 compared to the second quarter of 2017. On an owned plus licensed basis, comparable sales were up 0.5 percent for the second quarter of 2018. Due to the 53-week calendar in fiscal 2017, there have been some timing adjustments in the company's typical promotional calendar, including the shift in the spring Friends & Family promotion. As reported earlier, this shift caused a positive impact in the first quarter of 2018 of approximately 250 basis points. The shift also caused a negative impact of approximately 240 basis points in the second quarter, as compared to 2017. Adjusting for this shift, the company estimates that comparable sales on an owned plus licensed basis were up 2.9 percent for the second quarter. When looking at the first half of 2018, comparable sales on an owned basis were up 1.9 percent compared to the first half of 2017. On an owned plus licensed basis, comparable sales were up 2.3 percent for the first half of 2018.

08:11 EDT Hologic division signs nitrous oxide and oxygen system distribution agreement - Hologic's Cynosure division completed an agreement with Porter Instrument, a business unit of Parker Hannifin Corporation, for distribution rights in the U.S. and Canada to Porter Instrument's nitrous oxide and oxygen system, Nitronox. Nitronox is a self-administered nitrous oxide and oxygen delivery system providing an inhaled analgesic that helps patients manage potential discomfort and anxiety while remaining alert and conscious during their aesthetic procedures. Hologic anticipates that Nitronox will be used to complement hair removal, tattoo removal, body contouring and skin revitalization procedures.

08:08 EDT Macy's down 2.9% after reporting Q2 results

08:05 EDT ResTORbio names Vertex executive Jeffrey Chodakewitz to board - resTORbio (TORC) announced the appointment of Jeffrey Chodakewitz, M.D., to its Board of Directors. Chodakewitz currently serves as Executive Vice President, Clinical Medicine and External Innovation, at Vertex Pharmaceuticals (VRTX).

08:02 EDT Trovagene: USAN Council approves Onvansertib as generic name for PCM-075 - Trovagene announced that the United States Adopted Name Council has approved "Onvansertib" as the nonproprietary name for its drug candidate, PCM-075. Onvansertib is a first-in-class, 3rd generation, highly selective, oral Polo Like Kinase 1 inhibitor, that is designed to target and inhibit cancer cell division.

08:01 EDT Spherix trading resumes

07:47 EDT Jacobs Engineering awarded General Engineering Services contract in Saudi Arabia - Jacobs Engineering has received a two-year contract renewal from Saudi Aramco Total Refining and Petrochemical Company for its subsidiary in the Kingdom of Saudi Arabia, Jacobs Zamel and Turbag Consulting Engineers, to provide general engineering services at SATORP's facilities in Jubail Industrial City 2 on the Arabian Gulf coast.

07:41 EDT Idexx Laboratories expands rapid overnight service for veterinary practices - Idexx Laboratories' U.S. reference laboratory division will expand its rapid overnight service, known as Idexx-Direct service, for thousands of rural U.S. veterinary practices. Through a new reference laboratory in Louisville, Kentucky, Idexx will provide thousands of veterinary hospitals across the country with additional flexibility by offering the latest possible patient sample pick-up time with next morning results. By offering a later pick-up time for samples going to Idexx Reference Laboratories, the Idexx-Direct service helps to ensure that all patient samples from the day can be sent to the laboratory that evening.

07:37 EDT Adaptimmune to initiate third dosing cohort in MAGE-A4 SPEAR T-cell study - Adaptimmune announced a "favorable" review of safety data from the second dose cohort of patients who received 1B transduced SPEAR T-cells targeting MAGE-A4 in the ongoing basket study in nine solid tumor indications. Based on these data, the Safety Review Committee, or SRC, has endorsed dose escalation to the third dose cohort of 1.2B-6B cells. To date, three patients have received 100M transduced MAGE-A4 SPEAR T-cells in the first dose cohort, and three patients received 1B cells in the second cohort. No evidence of toxicity related to off-target binding or alloreactivity has been reported. Most adverse events were consistent with those typically experienced by cancer patients undergoing cytotoxic chemotherapy or other cancer immunotherapies.

07:33 EDT Oragenics resumes Phase 2 clinical trial of AG013 - Oragenics (OGEN) announced it has resumed its Phase 2 clinical trial of AG013, a live biotherapeutic product for the potential treatment of oral mucositis, or OM, following a positive review by an independent Data Safety Monitoring Board, or DSMB. In May 2018, Oragenics reported positive interim safety analysis results based on the first 19 patients, which were evaluated on the basis of treatment-emergent adverse events, vital signs, weight, physical examination, clinical laboratory assessment and the potential presence of AG013 in blood. Tolerability measures were collected from patient diaries. Following a routine data review, the trial's independent DSMB concluded that it may proceed with no necessary changes to the study. The ongoing Phase 2 trial is a double-blind, placebo-controlled, two-arm, multi-center trial, in which approximately 200 patients will be randomized in a 1:1 ratio to receive either AG013 or placebo. The purpose of the study is to evaluate the safety, tolerability and efficacy of topically administered AG013 compared to placebo for reducing the incidence and severity of OM in patients undergoing traditional chemoradiation for the treatment of head and neck cancer. Key measures include duration, time to development, and overall incidence of OM during the active treatment phase, which begins from the start of chemoradiation therapy until two weeks following its completion. AG013, which has been granted Fast Track designation with the U.S. Food and Drug Administration and orphan drug status in Europe, is an ActoBiotics(R) therapeutic candidate formulated to deliver the therapeutic molecule Trefoil Factor 1 to the mucosal tissues in the oral cavity in a convenient oral rinsing solution. Trefoil Factors are a class of peptides involved in the protection of gastrointestinal tissues against mucosal damage and play an important role in subsequent repair. The compound was designed by the company's strategic partner, ActoBio Therapeutics, a wholly-owned subsidiary of Intrexon (XON).

07:32 EDT China Rapid Finance announces $20M share repurchase program - China Rapid Finance announced that its board of directors approved a share repurchase program whereby the company is authorized to repurchase its ordinary shares in the form of American depositary shares with an aggregate value of up to $20M.

07:31 EDT Alliance Data reports July net charge offs 5.9% vs. 6.6% last month - Reports July delinquency rate 5.7% vs. 5.5% last month.

07:09 EDT American Electric Tech. CEO Charles Dauber to resign, Peter Menikoff to succeed - American Electric Tech. announced the resignation of its CEO Charles Dauber, and that Peter Menikoff will take on the role of CEO in addition to his role as chairman of the board. Menikoff has been on the board of the company since May 2007 and has been chairman of the board since 2009. Menikoff previously served as president and CEO of CONEMSCO an oil and gas drilling/production supplies, services and equipment company.

07:06 EDT AngioDynamics announces acquisition of BioSentry Tract Sealant System technology - AngioDynamics provided a corporate update on enhancements made to its Oncology business and acknowledged a recent, favorable U.S. District Court ruling that impacts its Vascular Access business. As part of its strategic focus on building a continuum of care within the oncology space, AngioDynamics has announced the acquisition of the BioSentry Tract Sealant System technology from Surgical Specialties. The acquisition immediately enhances AngioDynamics' Oncology business, adding a commercialized, clinically proven product that minimizes the occurrence of pneumothorax, or PTX, the most common complication of CT-guided percutaneous lung biopsy. The technology delivers a proprietary hydrogel plug, which prevents air leakage during a CT-guided percutaneous lung biopsy and helps mitigate the risk of PTX. In 2010, a published clinical trial involving 339 patients at 15 different sites showed BioSentry technology with an 85% clinical success rate, compared to 69% in the control group. Approved by the Food and Drug Administration in December 2012, the BioSentry System became commercially available in 2013 and is also CE Mark approved in Europe. In addition to acquiring the BioSentry System, Surgical Specialties' 12-person commercial organization will join AngioDynamics and expand the reach of its Oncology business. BioSentry's trailing 12-months revenues exceeded $5M and the acquisition is expected to be neutral to earnings on an adjusted basis. SunTrust Robinson Humphrey served as the exclusive financial advisor to AngioDynamics.

07:03 EDT Peabody Energy agrees to repurchase $300M in BTU shares - Peabody announced that it has signed a definitive agreement to repurchase $300M of Peabody common stock directly from entities advised by Elliott Management at a price of $41.82 per share, representing a 1.7% discount from the closing price on Aug. 13, 2018. The repurchase represents 5.9% of the company's shares outstanding and is being made under Peabody's $1B authorized repurchase program. Repurchases now total $875 million since the company's shareholder return program was initiated in August 2017. Closing is expected on or about Aug. 21, 2018, subject to customary conditions.

06:35 EDT Constellation Brands to invest $4B in Canopy Growth - Constellation Brands (STZ, STZ.B) and Canopy Growth (CGC) announced a significant expansion of their strategic partnership to position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing. Constellation Brands will increase its ownership interest in Canopy Growth by acquiring 104.5M shares directly from Canopy Growth, thereby achieving approximately 38% ownership when assuming exercise of the existing Constellation warrants. Constellation Brands is acquiring the new shares at a price of C$48.60 per share, which is a 37.9% premium to Canopy's 5-day volume weighted average price of the common shares on the Toronto Stock Exchange, and a 51.2% premium to the closing price on August 14, 2018. Constellation will also receive additional warrants of Canopy that, if exercised, would provide for at least an additional C$4.5B to Canopy Growth. As a result of the new shares Constellation is acquiring, Canopy Growth will immediately upon closing have proceeds of approximately $4B to bolster its leadership position in the global cannabis industry. This investment, the largest to date in the cannabis space, will provide funds which Canopy Growth will deploy to strategically build and/or acquire key assets needed to establish global scale in the nearly 30 countries pursuing a federally permissible medical cannabis program, while also rapidly laying the global foundation needed for new recreational cannabis markets. Canopy Growth's Canadian platform does not require additional cannabis cultivation assets, and management views other jurisdictions, including the United States, as strategic priorities requiring significant capital. As part of its investment, Constellation is receiving 139.7M new warrants which are exercisable over the next 3 years. Of those, 88.5M are exercisable at a price per share of C$50.40, a 43% premium to Canopy's VWAP, and 51.3M are exercisable at the VWAP at the time of exercise. If Constellation were to exercise all existing and new warrants, its ownership would exceed 50%. Canopy Growth's future plans include pursuing various product formats in all cannabis channels. Both companies have no plans to sell cannabis products in any market unless it is permissible to do so at all applicable government levels. Canopy Growth remains committed to not entering the U.S. market in any manner that would contravene U.S. federal laws. Constellation expects to account for its investment under the equity accounting method. As such, the transaction is expected to be accretive to the company's full year diluted earnings per share in fiscal 2021. In addition, Constellation Brands remains committed to its investment grade rating and therefore, has no plans to engage in mergers, acquisitions or share repurchase activity until the company returns to its 3.5x leverage target, which is expected to occur within 18-24 months of deal closing. The transaction is subject to customary closing conditions, including Canopy shareholder approval and applicable Canadian government and regulatory approvals, and is expected to close by the end of October 2018.

06:34 EDT Sharing Economy International enters into license agreement with Ecrent Capital - Sharing Economy International announced that its wholly-owned subsidiary, Sharing Economy Investment, has entered into a license agreement with Ecrent Capital, regarding the grant of an exclusive and sublicensable license from ECRENT to SEII to utilize certain software and trademarks in order to develop, launch, operate, commercialize, and maintain an online website platform in United Kingdom, Germany, France, Poland, Switzerland, Netherlands, Denmark, Russia, Italy, Spain, Portugal and Greece. In return, SEII shall issue to ECRENT 360,000 shares of restricted common stock. ECRENT will guarantee that the operation of its related websites, mobile applications and business services will contribute revenue of $20M and gross profit of $3.88M from the closing date of the license agreement through December 31, 2019.

06:32 EDT Constellation Brands to invest C$5B in Canopy Growth

06:07 EDT Endo lifts temporary stay of FDA litigation - Endo announced that it is lifting a temporary stay of its litigation against the FDA. The litigation, filed in the U.S. District Court for the District of Columbia in October 2017 by the company's subsidiaries, Par Sterile Products and Endo Par Innovation, seeks a declaration that FDA's "Interim Policy" on compounding using bulk drug substances under Section 503B of the Drug Quality and Security Act of 2013, or DQSA, amendments to the Federal Food, Drug, and Cosmetic Act, or FDCA, is contrary to law because it authorizes bulk compounding of new drugs where the applicable DQSA requirements are not satisfied and because it is fundamentally inconsistent with the plain language and structure of the FDCA statutory regime for introducing new drugs. The litigation also seeks the immediate removal of vasopressin from FDA's Category 1 nominations list to assure that outsourcing facilities do not engage in bulk compounding of vasopressin-containing drug products under Section 503B. In light of an outsourcing facility's recent announcement that it has launched a ready-to-use vasopressin product compounded using bulk drug substances under Section 503B, Endo is lifting the stay of its litigation against FDA. In January 2018, following public statements from FDA reflecting FDA's intent to alter its compounding policy, and after discussions among the parties' counsel, Endo agreed to FDA's request to stay the parties' litigation until March 30. Under the terms of the litigation stay, Endo retained the ability to terminate the stay by notifying FDA that it believes that an entity has commenced or is likely to commence bulk compounding of any vasopressin-containing drug product under Section 503B. Endo later agreed to extend the temporary litigation stay for an additional 180 days following FDA's issuance in March of draft guidance describing the procedures that FDA intends to follow, and the criteria that FDA intends to apply, in implementing the requirements of the DQSA for use of bulk drug substances in compounding under Section 503B. In the draft guidance, FDA states, among other things, that because "compounded drug products are subject to a lower regulatory standard than FDA-approved drugs, they should only be used by patients whose medical needs cannot be met by an FDA-approved drug." FDA further explains that in certain situations, "compounding using the FDA-approved drug product instead of a bulk drug substance would meet patients' medical needs and present less risk," and specifically describes the dilution of FDA-approved drugs by outsourcing facilities to produce intravenous bags for hospitals as such a situation.

06:05 EDT TSMC board approves $4.5B for capacity expansion - TSMC held a meeting of the Board of Directors, which passed the following resolutions: Approved capital appropriations of approximately $4.5B for purposes including: 1) Construction of fab facilities; 2) Installation, expansion, and upgrade of advanced technology capacity; 3) Conversion of logic capacity to specialty technology capacity; 4) Conversion of mature technology capacity to specialty technology capacity; 5) Expansion and upgrade of specialty technology capacity; 6) Expansion of advanced packaging technology capacity; 7) Fourth quarter 2018 R&D capital investments and sustaining capital expenditures. The board also approved the capital injection of not more than $2B to TSMC Global Ltd., a wholly-owned BVI subsidiary, for the purpose of reducing foreign exchange hedging costs. Additionally, it approved the appointment of Dr. H.-S. Philip Wong as Vice President of TSMC. Dr. Wong will serve as Head of Corporate Research and report directly to Senior Vice President Dr. Y. J. Mii.

05:56 EDT KBR awarded contract by U.S. Navy to provide centrifuge-based training - KBR announced that its global government services business, KBRwyle, has been awarded a contract by the U.S. Naval Air Warfare Center Training Systems Division, or NAWCTSD, to provide centrifuge-based training for all U.S. Navy and Marine Corps aircrew including the world famous flight demonstration squadron, the Blue Angels. KBRwyle will conduct centrifuge-based flight environment training for approximately 600 students annually from the Navy's Blue Angels flight demonstration squadron, as well as the Chief of Naval Air Training, Naval Strike Air Warfare Center, and the Chief of Naval Air Forces and U.S. Marine Corps. KBRwyle instructors will teach students about the physiological effects of acceleration and countermeasures used in a high-G environment. Students will receive classroom instruction as well as realistic, hands-on training in the company-operated centrifuge that generates acceleration forces equivalent to those experienced during flight. KBRwyle will provide all personnel, resources, facilities, and maintenance for this training, and will support routine Navy inspections to ensure the safety of its operations. Estimated revenue associated with this contract award will be booked into the backlog of unfilled orders for KBR's Government Services business segment.

05:51 EDT Verizon to launch 5G home internet service in Indianapolis - Verizon announced Indianapolis as the fourth city scheduled to receive 5G residential broadband service in the second half of 2018. The company previously said it would launch 5G in four cities this year, and Indianapolis joins Houston, Los Angeles and Sacramento as the first U.S. cities to get 5G service. Verizon will be the first wireless technology provider to deploy 5G residential broadband service and 5G mobile service in the United States. Home internet service will begin in the four identified markets this year. As mobile devices become available in early 2019, Verizon plans to quickly move to be first in 5G mobile service. Verizon also announced today that YouTube TV and Apple TV 4K will be included with the initial 5G broadband offering in Sacramento, Los Angeles, Houston and Indianapolis.

05:45 EDT Sprint, LG working together to bring first 5G smartphone to U.S. in 1H19 - Sprint confirmed a significant wireless milestone as it works with LG Electronics USA to deliver the first mobile 5G smartphone in the U.S. in the first half of 2019. Sprint customers will be among the first in the world to experience the speed, reliability and mobility of 5G on this innovative handset built for the country's first mobile 5G network when it launches in first half of next year. Device specifications and exact timing will be announced later. "Sprint is moving fast on the road to 5G and we are thrilled to announce the first 5G smartphone with the innovative team at LG," said Dr. John Saw, Sprint chief technology officer. "LG has done tremendous work developing technical designs that enable us to be among the first movers in mobile 5G. Today's announcement brings us one step closer to putting a beautifully-designed advanced 5G smartphone in our customer's hands. And we're excited to revolutionize the mobile industry as we dramatically improve the way Sprint customers work, play and stay connected."

05:32 EDT Sears CEO's hedge fund offers to buy Kenmore brand for $400M - In a regulatory filing, CEO Eddie Lampert's ESL hedge fund said that on August 14, it delivered a letter to the Special Committee pursuant to which it submitted a non-binding proposal for the acquisition of Kenmore and SHIP and to update the Special Committee regarding its plans with respect to Parts Direct and certain other transactions, as well as to re-emphasize its firm belief that these transactions should be undertaken together with tender and exchange offers designed to allow Holdings to reduce its debt, extend its maturity profile and alleviate its liquidity challenges. The Bid Proposal indicates that ESL is proposing to acquire Kenmore in a cash acquisition based on a cash-free, debt-free enterprise value of $400M, subject to adjustment in respect of the working capital and assets and liabilities of the Kenmore business at closing. The Bid Proposal notes that ESL has been discussing with potential partners their participation in the acquisition of Kenmore, and that the transaction would be conditioned on ESL's receipt of equity financing from a potential partner on terms acceptable to it.The Bid Proposal also indicates that ESL is proposing to acquire SHIP in a cash acquisition based on a cash-free, debt-free enterprise value of $70M, subject to adjustment in respect of the working capital and assets and liabilities of the SHIP business at closing. In addition, the Bid Proposal contemplates an additional contingent payment of $10M if the 2018 stand-alone EBITDA of the SHIP business achieves 85% of the SHIP management projections. The Bid Proposal further notes that while ESL continues to evaluate a potential transaction involving Parts Direct, it has prioritized transactions involving Kenmore and SHIP in light of the complexities of separating Parts Direct from Sears Home Services Division and the timeline required to complete such a transaction. The Bid Proposal also notes that the Reporting Persons are planning to engage with potential third party investors to solicit interest in a transaction involving all or portions of Holdings' encumbered real estate.