Stockwinners Market Radar for August 27, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:12 EDT BJ's Restaurants director sells 8,000 common shares - In a regulatory filing, BJ's Restaurants director Gerald W. Deitchle disclosed the sale of 8,000 common shares of the company at a price of $71.20 per share.

19:01 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: Heico (HEI) up 5.7%. ALSO HIGHER: Brooks Automation (BRKS) up 14.4% after selling semiconductor cryogenics business to Atlas Copco... Tetraphase Pharma (TTPH) up 7.0% after receiving FDA approval for XERAVA... Lattice Semiconductor (LSCC) up 6.1% after naming new CEO. DOWN AFTER EARNINGS: Phibro Animal Health (PAHC) down 5.2%. ALSO LOWER: Akcea Therapeutics (AKCA), Ionis Pharma (IONS) down 24.5% and 12.5% respectively after FDA rejection of WAYLIVRA... Mitek Systems (MITK) down 5.8% after announced CEO resignation... Wright Medical (WMGI) down 4.3% after equity offering.

18:42 EDT FCC chairman 'please' office of IG found no evidence of Sinclair favoritism - Federal Communications Commission Chairman Ajit Pai issued the following statement regarding the Office of Inspector General's independent report, which found no evidence or suggestion of impropriety, unscrupulous behavior, or favoritism towards Sinclair (SBGI). Moreover, the Office of the Inspector General found no lack of impartiality related to the proposed Sinclair-Tribune (TRCO) merger. "I'm pleased that the Office of Inspector General has concluded that there was 'no evidence, nor even the suggestion, of impropriety, unscrupulous behavior, favoritism towards Sinclair, or lack of impartiality related to the proposed Sinclair-Tribune Merger.' I have called on the FCC for many years to update its outdated media ownership regulations to match the realities of the modern marketplace. As I said when this investigation was first announced, the suggestion that I favored any one company was absurd, and today's report proves that Capitol Hill Democrats' politically-motivated accusations were entirely baseless."

18:12 EDT Saint Joe announces 466-home development plan - The St. Joe Company and Kolter Acquisitions LLC, a subsidiary of Kolter Homes, LLC announced plans to create a new home development within the Watersound Origins community. Watersound and Kolter have entered into a definitive long-term contractual agreement whereby Watersound will develop 40', 50' and 60' wide finished lots for Kolter in multiple phases. Watersound Origins' newest community will consist of approximately 466 single-family detached homes to be constructed by Kolter in its own gated section of the Origins community. This will be Kolter's second large scale development in the region and is planned to include a new community clubhouse, a pool and sport courts. Lot construction is expected to begin in 2019 with homes being available for sale in 2020.

18:00 EDT Liberty Latin America CEO Balan Nair buys over $1M in company shares - Liberty Latin America CEO Balan Nair disclosed in a filing that he had purchased 55,000 shares of company stock at an average price of $18.19 per share on August 23 and 24. The total transaction value of the purchase was $1,000,285.

17:31 EDT FirstEnergy enters settlement agreement in FirstEnergy Solutions proceedings - FirstEnergy announced that it has entered into a definitive settlement agreement in the Chapter 11 proceedings of FirstEnergy Solutions, its subsidiaries and FirstEnergy Nuclear Operating Company, that would address all potential claims among the settling parties and other creditors of FES and FENOC. The definitive agreement defines and quantifies all of FirstEnergy's obligations with respect to the FES and FENOC bankruptcies and allows FirstEnergy to turn its full focus toward the continued successful implementation of its regulated growth strategies. The definitive settlement was signed by FirstEnergy, the Debtors, the Ad Hoc Noteholders Group, the Bruce Mansfield Certificateholders Group and the Unsecured Creditors Committee, and filed with the bankruptcy court in the FES Chapter 11 proceedings on August 26. The agreement is subject to the approval of the bankruptcy court. The terms of the agreement are materially consistent with the amended agreement in principle that was announced earlier this month.

17:16 EDT Quest Diagnostics to acquire Provant Health's assets valued at $27M - Provant Health announced that it has entered into an asset purchase agreement with Summit Health, a subsidiary of Quest Diagnostics. Under the asset purchase agreement, Quest will acquire substantially all of Provant Health's assets and will continue the company's service offerings as it has in the past. Throughout the transaction process, Provant Health will continue to serve its customers, remaining focused on meeting customer and partner obligations in the Q4 season. Upon completion of the transaction, Quest will lend its history, expertise, and resources in the health care space to enhance the experiences of Provant Health's customers and partners. To support Provant Health in meeting its working capital requirements during the sale process, the company has signed definitive agreements with its two primary lenders, SWK and CNH, to provide up to $13.6M, that will allow the company to continue to operate the business through closing of the sale which is anticipated to be on or before October 10. The Quest asset purchase agreement is valued at $27M dollars and takes the form of a "stalking horse" bid, with the sale to be completed after an auction process carried out under the terms of section 363 of the bankruptcy code. The Quest asset purchase agreement also contains a transition services agreement through December 31, to ensure a smooth client transition and seamless continued operations. In conjunction with the sale process, the company petitioned for Chapter 11 bankruptcy to facilitate a rapid 363 sale process with an anticipated transaction close date on or before October 10.

17:02 EDT Abraxas Petroleum provides operational well update - Abraxas Petroleumy provided operational, leasehold and corporate presentation update, stating: "As reported on the Q2 earnings call, Abraxas owns 9,780 net acres in the Southern Delaware Basin of West Texas. This excludes approximately 2,200 acres of perpetual mineral acres near the Alpine High area in Pecos County. We have closed and are in various stages of due diligence on several additional transactions that will likely increase our total net acreage footprint to over 10,500 net acres. Our recent transactions have been consummated at considerably less cost per acre than other recent transactions reported by others in the area. In total, they can be characterized as consolidating our acreage into contiguous operated blocks with high working interests. Concurrent with this release, we have released a new corporate presentation which includes a map of our current acreage position in Ward County. After detailed geologic interpretation of our acreage, we have concluded our existing acreage contains approximately 361 gross future locations for 5,000' laterals that we would consider highly prospective from our drilling operations as well as from offset operator results on 1,320' spacing. This number would approximately double if optimum spacing is determined to be 660' between wells in the same zone. This future location count considers as many as 6 landing zones, not all of which are considered currently prospective on all of our current acreage. Approximately 32% of our locations for 5,000' laterals could be combined for future 10,000' laterals should conditions warrant. Approximately 91% of our future locations would be operated. On our four well Caprito 99 pad, we are testing spacing of 660' between wells in the same zone, as well as parent child relationships between the new wells and a well that has been on production approximately two years. After our conservative flowback protocol, all four wells appear to have reached peak producing rates approximately 50 days from producing first oil. For the last 30 days, the two wells (Wolfcamp A-1 and Wolfcamp A-2) 1,320' from the older producer have averaged 908 barrels of oil equivalent per day (two-stream, 82% oil). The two wells located 660' from the older producer, also in the Wolfcamp A-1 and Wolfcamp A-2, have averaged 604 barrels of oil equivalent (two-stream, 85% oil). The parent child relationship is obvious, but it is too early in the life of the new wells to quantify; however, we are still evaluating data to determine the relationship, if any, between the new wells that are 660' apart in the same zone with approximately 150' vertical separation between the Wolfcamp A-1 and A-2. All four wells are producing above our type curve for 5,000' laterals in both zones. The lateral lengths on all four new wells approximates 4,800'. Abraxas owns a 57.8% working interest in this pad. Also in Ward County, the two well Greasewood pad with 4,800' laterals in the Wolfcamp A-1 and Wolfcamp A-2, has started producing oil after flowback started approximately two weeks ago. Abraxas owns a 100% working interest in this pad. Still in Ward County, the frac date for the two well Mesquite pad has been moved up to start around September 10. Abraxas owns a 73% working interest in these 4,800' laterals in 3rd Bone Spring Shale and 3rd Bone Spring Sandstone. Our rig is currently drilling below 6,000' on our Pecan 47 well, a scheduled 4,800' lateral in the Wolfcamp A-1. Abraxas owns a 100% interest in this well. The rig is scheduled to move to our two well Creosote 86 pad for 4,800' laterals in the Wolfcamp A-1 and Wolfcamp A-2. Abraxas currently owns a 100% working interest in this pad. In North Dakota, the three well Yellowstone NE Central pad with two wells completed in the Three Forks and one in the Middle Bakken, achieved an average 30 day rate of ~1,500 barrels of oil per day (two-stream, 74% oil) per well, significantly above our area type curve for each zone. Abraxas owns a 51.6% working interest in this pad. The four well Lillibridge NE pad with two wells in each, the Middle Bakken and Three Forks, achieved an average 30-day rate of ~900 barrels of oil per day (two-stream, 76% oil). This average is above our type curve, which we consider satisfactory given that these were in-fill wells to parent wells that have been on production approximately five years. Additionally, the parent wells achieved a significant boost in production due to the offset child fracs. Abraxas owns an approximate 27% working interest in this pad. The four well Ravin NE Central pad is scheduled to commence frac operations in mid-September, immediately followed by the four well Ravin NE pad on which the Company owned drilling rig, Raven Rig #1, is finishing the drilling of the third of four laterals. Abraxas owns an approximate average 47% working interest in these eight wells. The rig is scheduled to move to the four well, Lillibridge NW Central pad next. "

17:00 EDT Ionis Pharmaceuticals trading resumes

16:48 EDT Appian director Robert Kramer sells $870K in company shares - Appian director Robert Kramer disclosed in a filing that he had sold 25,000 shares of company stock at an average price of $34.78 per share on August 23. The total transaction value of the sale was $869,525.

16:40 EDT Affimed NV trading resumes

16:34 EDT Park West Asset Management reports 6.8% passive stake in ViewRay

16:31 EDT Akcea, Ionis receive Complete Response Letter for WAYLIVRA from FDA - Akcea Therapeutics (AKCA) and Ionis Pharmaceuticals (IONS) announced that they received a Complete Response Letter from the Division of Metabolism and Endocrinology Products of the U.S. Food and Drug Administration regarding the New Drug Application for WAYLIVRA. "We are extremely disappointed with the FDA's decision. FCS is an ultra-rare and debilitating disease. Our disappointment extends to the patient and physician community who currently do not have a treatment available to them. We continue to feel strongly that WAYLIVRA demonstrates a favorable benefit/risk profile in people with FCS as was reflected in the positive outcome from our Advisory Committee hearing in May. We will continue to work with the FDA to confirm the path forward," said Paula Soteropoulos, chief executive officer of Akcea Therapeutics.

16:25 EDT Akcea Therapeutics trading halted, news pending

16:20 EDT Affimed in collaboration with Genentech for cancer therapy - Affime (AFMD) announced that it has entered into a strategic collaboration agreement with Genentech, a member of the Roche Group (RHHBY), to develop and commercialize novel NK cell engager-based immunotherapeutics to treat multiple cancers. Affimed will apply its proprietary Redirected Optimized Cell Killing platform, which enables the generation of both NK cell and T cell-engaging antibodies, to discover and advance innate immune cell engager-based immunotherapeutics of interest to Genentech. The collaboration includes candidate products generated from Affimed's ROCK platform and multiple undisclosed solid and hematologic tumor targets. Affimed and Genentech will collaborate on the discovery, early research and late-stage research phases. Genentech will be responsible for clinical development and commercialization worldwide. "We are incredibly excited to work with Genentech, a leader in oncology with a long history of excellence in the discovery and development of medicines to treat cancer," said Dr. Adi Hoess, Affimed's CEO. "This strategic partnership marks an important step on our path to leverage the full potential of innate immune cells in oncology." Under the terms of the agreement, Affimed will receive $96M in an initial upfront payment and other near-term committed funding. Affimed may be eligible to receive up to an additional $5B over time, including payments upon achievement of specified development, regulatory and commercial milestones, and royalties on sales. The agreement is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and closing is expected to occur in the third quarter of 2018."This collaboration is based on Affimed's innate immune cell drug discovery and development expertise and our team's deep understanding of cancer immunology," commented James Sabry, M.D., Ph.D., Global Head of Partnering, Roche. "Our partnership with Affimed provides an opportunity to enhance our existing efforts to understand how the immune system can be activated to help people living with cancer."

16:13 EDT Mitek Systems announces CEO Jim DeBello to transition out of role - Mitek Systems announced that its CEO, Jim DeBello, will be transitioning out of his role at the company. DeBello's departure will be effective January 1, 2019 to help facilitate an orderly transition. In addition, Bruce Hansen, Mitek's lead independent director, will immediately assume the role of chairman of the board and will assist with the transition process. Over the past twenty-three years as a Mitek Director, fifteen years as its CEO, and two years as its chairman of the board. In addition, in an unrelated development, CFO Jeff Davison has notified the company that he will depart at the end of November to join a firm near his home in Montana. Davison informed the company that his voluntary departure is for personal and family reasons and not due to any disagreement with the company on any matter related to the company's operations, policies or practices. Davison will continue serving in his current role through the announcement of Mitek's Q4 and full year earnings in November.

16:08 EDT Partner Fund Management reports 5.2% passive stake in Arena Pharmaceuticals

16:07 EDT Destination Maternity reaches pact with second largest shareholder Miller - Destination Maternity Corporation announced that it entered into an agreement with its second largest shareholder, Nathan G. Miller. The agreement allows the company to share information with Miller, from time to time and subject to customary confidentiality and trading restrictions, with the goal of benefiting all shareholders. The agreement also provides for the mutual release of potential legal claims between the company and Miller related to the recent proxy contest, which resulted in the election of four nominees to the board of directors at the company's Annual Meeting of Shareholders held on May 23, 2018. Destination Maternity also agreed to reimburse $1.2M of Miller's fees and expenses incurred in connection with the proxy contest, which will be taken as a charge in the second quarter of fiscal 2018.

16:06 EDT CSG Systems initiates quarterly dividend of of 21c per share - CSG announced that its board of directors approved the company's quarterly cash dividend payment of 21c per share of common stock to be paid on Sept. 27, 2018 for shareholders of record as of the close of business on Sept. 12, 2018.

16:06 EDT Illumina receives approval of MiSeqDx System in China - Illumina announced that its MiSeqDx Sequencing System received the approval certificate from the China National Drug Administration. This is Illumina's first CNDA-cleared, next-generation sequencing system in China. In accordance with the clearance, Illumina can now market and sell the MiSeqDx Sequencing System to hospitals and other medical institutions for in-vitro diagnostic testing throughout China. Designed specifically for the clinical laboratory environment, the MiSeqDx Sequencing System is a benchtop sequencer that incorporates an easy-to-use workflow and data output tailored to the diverse needs of clinical labs. Taking advantage of proven Illumina sequencing by synthesis chemistry, the MiSeqDx Sequencing System provides IVD developers the tools to create accurate diagnostic testing. Additionally, integrated software enables run setup, sample tracking, user management, audit trails and data interpretation.

16:05 EDT Affimed NV trading halted, news pending

16:00 EDT Mitek Systems trading halted, news pending

15:38 EDT Tetraphase trading halted, news pending

15:22 EDT Frazier Life Sciences IX reports 5.7% passive stake in Krystal Biotech

14:38 EDT Netflix announces multi-year exclusive deal with author Harlan Coben - Netflix announced that it entered into a multi-year exclusive overall deal with author Harlan Coben, who currently has two crime drama series on Netflix -- Safe, starring Michael C. Hall, which premiered earlier this year and the 2015 French series No Second Chance. As part of the deal, Netflix will work with Coben to develop 14 existing titles and future projects, including his upcoming novel Run Away, into English language and foreign language series, as well as films, to premiere on Netflix around the world. Coben will serve as an executive producer on all projects.

13:54 EDT Endo rises after FDA proposes restricting compounding of vasopressin - Shares of Endo International (ENDP) are on the rise after the U.S. Food and Drug Administration proposed restricting the ability of companies that produce compounded medications in bulk from using three substances that are active ingredients in FDA-approved drugs. One of the three substances include vasopressin, the active ingredient in Endo International's blood pressure drug Vasostrict, which has been the subject of a lawsuit targeting how the FDA regulates drug compounding. FDA PROPOSAL: According to a report by the FDA, the agency is "developing a list of bulk drug substances for which there is a clinical need [under section 503B of the Federal Food, Drug, and Cosmetic Act]. Drug products that outsourcing facilities compound using bulk drug substances on the 503B Bulks List qualify for certain exemptions from the Federal Food, Drug, and Cosmetic Act provided certain conditions are met." The FDA identified three bulk drug substances that it has considered and is proposing not to include on the list: bumetanide, nicardipine hydrochloride, and vasopressin. "The bulk drug substances that we are addressing in this notice are components of FDA approved drug products, and we therefore began our evaluation by asking the following questions: Is there a basis to conclude, for each FDA-approved product that includes the nominated bulk drug substance, that an attribute of the FDA-approved drug product makes it medically unsuitable to treat certain patients for a condition that FDA has identified for evaluation, and the drug product proposed to be compounded is intended to address that attribute? Is there a basis to conclude that the drug product proposed to be compounded must be produced from a bulk drug substance rather than from an FDA-approved drug product? [...] We did not answer 'yes' to both of the threshold questions for bumetanide, nicardipine hydrochloride, or vasopressin, and we did not consider the four additional factors in our proposal not to include bumetanide, nicardipine hydrochloride, or vasopressin on the 503B Bilks List," the FDA notice read. Additional bulk drug substances nominated by the public for inclusion on this list are currently under consideration and will be the subject of future notices, the FDA added. PRICE ACTION: In afternoon trading, shares of Endo International have gained over 5% to $16.34.

13:19 EDT Tesla under pressure as Street digests staying public news - Shares of Tesla (TSLA) are slipping after CEO Elon Musk announced that the company is staying public as it is a "better path" for shareholders. Commenting on the news, Baird analyst Ben Kallo argued that the decision is positive for all stakeholders as it will allow investor attention to shift back to fundamentals, while his peer at Cowen said he now sees mounting obstacles, including lawsuits and SEC investigations. TESLA TO REMAIN PUBLIC: Late on Friday, Tesla CEO Elon Musk announced in a blog post that his company will remain public. The post reads in part, "Given the feedback I've received, it's apparent that most of Tesla's existing shareholders believe we are better off as a public company...I knew the process of going private would be challenging, but it's clear that it would be even more time-consuming and distracting than initially anticipated...After considering all of these factors, I met with Tesla's Board of Directors yesterday and let them know that I believe the better path is for Tesla to remain public. The Board indicated that they agree." Tesla's board subsequently dissolved the Special Committee that was evaluating the chief executive's plan to take the company private and said its members "fully support Elon as he continues to lead the company moving forward." A buyout would force some of the technology mutual funds to trim their stakes in the company, while opening the door to competitors, The Wall Street Journal reported, adding that one of the investors Musk's bankers had lined up was believed to be Volkswagen (VLKAY). STAYING PUBLIC 'A POSITIVE': In a research note to investors this morning, Baird's Kallo said he believes the decision for Tesla to stay public is positive for all stakeholders as it will allow investor attention to shift back to fundamentals at an opportune time as the company has appeared to make significant progress on the Model 3 ramp. Furthermore, the analyst argued that progress on the Model 3 production ramp could be a significant positive catalyst for the stock. If the company achieves its production targets, adjusted EBITDA generation may be underestimated, he contended. Nonetheless, he sees a potential SEC penalty remaining an overhang and expects concerns about potential funding needs will return to the forefront. Kallo recommended buying the stock on any weakness as he expects shares to move higher ahead of third quarter deliveries and results. He reiterated an Outperform rating and $411 price target on Tesla shares. Meanwhile, his peer at Oppenheimer told investors that he believes Tesla scrapping plans to go private removes a "large distraction" that had significant chance of failure and the potential to severely limit the company's access to capital while attempting to execute on its ambitious product strategy. Analyst Colin Rusch pointed out that investor focus should now revert to cash flow and Model 3 ramp in addition to speculation around the reported SEC investigation. The analyst added that he thinks the investment community has fully digested increased legal expense for Tesla, but myriad opinions exist on what sort of SEC-related punishment may materialize. He reiterated an Outperform rating on the shares. OBSTACLES CONTINUE TO MOUNT: Not as bullish after the announcement, Cowen analyst Jeffrey Osborne said in a research note of his own that he now sees mounting obstacles for Tesla including shareholder lawsuits, SEC investigations, cash burn, competitive environment, and spotty profits. The analyst noted that he continues to question Tesla's ability to be cash flow positive and GAAP profitable in both the third and fourth quarters of 2018. Moreover, Osborne added that he is hopeful that the litany of litigation filed by shareholders, the SEC investigation, and the "soul searching" that was done during the past 17 days will lead the Board down the path to bringing on a more operational CEO or at a minimum a COO with high volume automotive experience. The analyst reiterated his Underperform rating and $200 price target on Tesla shares. PRICE ACTION: In afternoon trading, shares of Tesla are down nearly 2% to $316.67, though that is improved from the stock's earlier lows of the session near $309 per share.

12:53 EDT Endo higher after FDA proposes restrictions on compounded medications - The FDA today proposed restricting the ability of companies that produce compounded medications in bulk from using three substances that are active ingredients in approved drugs, Reuters reports. The three substances include vasopressin, the active ingredient in Endo International's (ENDP) blood pressure drug Vasostrict, which has been the subject of a lawsuit targeting how the FDA regulates drug compounding, Reuters adds. Shares of Endo are up 6%, or $1.00, to $16.54 in midday trading. Reference Link

12:47 EDT Endo jumps 6%, or 89c, to $16.43

12:39 EDT VMware, Amazon Web Services announce Amazon Relational Database Service - Amazon Web Services, an Amazon.com company (AMZN), and VMware (MW), announced Amazon Relational Database Service on VMware. Amazon RDS on VMware is a service "that will make it easy for customers to set up, operate, and scale databases in VMware-based software-defined data centers and hybrid environments and to migrate them to AWS or VMware Cloud on AWS. Amazon RDS on VMware automates database management regardless of where the database is deployed, freeing up customers to focus on developing and tuning their applications," the companies said in a statement. Available in the coming months, Amazon RDS on VMware will support Microsoft SQL Server, Oracle, PostgreSQL, MySQL, and MariaDB databases, they added.

12:01 EDT Seven Stars Cloud Group announces business name change to Ideanomics - Seven Stars Cloud Group announced the adoption of Ideanomics as its new business name subject to shareholder approval. The use of the new name for the company is aligned with the company's vision and mission for transforming traditional assets and their associated industries into the asset digitization era. Shares of Ideanomics, will continue to trade on Nasdaq using the company's existing ticker symbol, SSC until further notice. The company will launch a new corporate website and domain that reflects its updated Ideanomics branding following shareholder approval. For more information on Ideanomics brand message, please visit the following post on the company's blog.

12:00 EDT HUYA rises 10.9% - HUYA is up 10.9%, or $2.86 to $29.03.

11:47 EDT Netflix , Airtel announce expansion of partnership in India - Airtel and Netflix earlier announced an expansion of their partnership in India through which subscribers of select Airtel Postpaid and V-Fiber Home Broadband plans will receive a three month gift of a Netflix subscription. "Post these three months, these subscribers will be able to pay for their Netflix subscription seamlessly, using their Airtel postpaid or home broadband bill. Existing Netflix subscribers will also be eligible for this gift. Subscribers not eligible for the gift will be able to sign up to Netflix through Airtel's apps and pay for their subscription using their Airtel bill," the company stated. Bill Holmes, Global Head of Business Development for Netflix said, "We are delighted to expand our partnership with Airtel and combine the latest technologies and the best of entertainment...Airtel customers will enjoy the simplicity of one monthly bill for their Netflix subscription and Airtel postpaid/home broadband bill." Reference Link

11:05 EDT CBL Properties closes on $21.5M sale of community center in Statesboro, GA - CBL Properties announced that it closed on the sale of Statesboro Crossing, a community center located in Statesboro, GA, for $21.5M in cash. Proceeds from the sale were used to retire the $10.7M loan secured by the property and to reduce outstanding balances on the company's lines of credit. Statesboro Crossing was sold to a group of investors through New Orleans, LA, based Morrison Investment Group.

10:42 EDT Credit Suisse says sell Bloom Energy following post-IPO run - Shares of Bloom Energy (BE) are under pressure this morning after Credit Suisse analyst Michael Weinstein downgraded the stock to Underperform on valuation, stating that the shares trade at a premium only a week after his initiation with little incremental fundamental news to justify the strength. Weinstein had started coverage of the stock last week with a Neutral rating, highlighting the nearly 80% jump off the $15 IPO back on July 25. CREDIT SUISSE SAYS SELL BLOOM ENERGY: In a research note to investors this morning, Credit Suisse's Weinstein downgraded Bloom Energy to Underperform from Neutral, citing valuation as the stock trades at a 33% premium to his target price of $24 set only a week ago with little incremental fundamental news to justify the strength. While the analyst acknowledged the disruptive potential of Bloom Energy's technology, he noted that the stock is now trading at a premium even to his "Blue Sky scenario" of $30, where he assumes continued 7% annual cost reductions from 2023-2030 help to push deployment growth 15% per year during this period. Although the company has shown impressive success so far, much work remains to be done to continue lowering costs and deliver next-generation improvements, Weinstein contended. Bank of America Merrill Lynch analyst Julien Dumouln-Smith had also initiated Bloom Energy with an Underperform rating and $19 price target, citing high expectations and execution risks over costs and deployment. MORGAN CALLS COMPANY 'A TRUE DISRUPTOR': Bullish on the stock, Morgan Stanley analyst Stephen Byrd started coverage of Bloom Energy last week with an Overweight rating and $30 price target. The analyst called the company "a true disruptor" that is revolutionizing on-site power with its natural gas fuel cell systems, and pointed out that he sees a path to "significant" margin expansion and cash flow generation that is not yet reflected in the stock. Furthermore, Byrd told investors that he believes Bloom has a multi-year lead given its technological advances, cost reductions, high barriers to entry and very limited set of commercial competitors. The analyst sees a "very large" market opportunity that continues to grow for Bloom as costs decline. Voicing a similar opinion, his peer at KeyBanc also started Bloom Energy with an Overweight rating and $27 price target. Analyst Tahira Afzal said she views it as being in nascent phases of adoption as a practical, low-emissions power solution for C&I customers who are becoming increasingly emissions conscious and are looking for more weather-resilient energy solutions. Afzal assesses Bloom Energy to be well-placed to deliver close to 40% CAGR volume sales and notable margin expansion into 2020/21. Additionally, she pointed out that she views recent positive free cash flow inflection as sustainable and likely to improve, on an annualized basis. PRICE ACTION: In morning trading, shares of Bloom Energy have dropped over 4% to $29.95. Bloom Energy opened trading at $18.70 on July 25 after its initial public offering had priced at $15 per share.

10:00 EDT Pebblebrook Hotel falls -4.5% - Pebblebrook Hotel is down -4.5%, or -$1.74 to $37.12.

10:00 EDT Sinopec rises 5.3% - Sinopec is up 5.3%, or $5.14 to $101.64.

10:00 EDT Diebold rises 9.8% - Diebold is up 9.8%, or 44c to $4.99.

09:47 EDT Charah Solutions rises 7.2% - Charah Solutions is up 7.2%, or 50c to $7.47.

09:31 EDT Zimmer Biomet received FDA Warning Letter for Indiana manufacturing facility - Zimmer Biomet disclosed this morning that on August 24, a subsidiary received a Warning Letter from the FDA related to observed non-conformities with current good manufacturing practice requirements of the Quality System regulation at the company's North Campus manufacturing facility in Warsaw, Indiana. "We take the matters identified in the Warning Letter seriously and are in the process of preparing a written response to the Warning Letter," Zimmer said. The Warning Letter is specific to its Warsaw North Campus facility. As previously disclosed, the FDA performed an inspection of the Warsaw North Campus facility in 2016 and issued a Form 483 with inspectional observations at the conclusion of the inspection in late 2016. Also as previously disclosed, the FDA performed a re-inspection of the Warsaw North Campus facility in April 2018 and issued a Form 483 with inspectional observations at the conclusion of the re-inspection. Zimmer said, "We have provided written responses to the FDA detailing corrective actions underway to address the FDA's observations and have provided, and will continue to provide, regular updates to the FDA regarding our quality remediation plan at the Warsaw North Campus. While the Warning Letter acknowledges our quality remediation plan and actions we've already taken to address the FDA's inspectional observations, it notes violations that require additional action or explanation. In the Warning Letter, the FDA proposes a Regulatory Meeting with us to discuss the proposed corrections. We will continue to work expeditiously to address the issues identified by the FDA and we intend to respond within fifteen business days to the Warning Letter. We expect that the proposed Regulatory Meeting will take place subsequent to the submission of our written response to the Warning Letter. Meanwhile, the Warning Letter does not restrict production or shipment of products from the Warsaw North Campus facility or require the withdrawal of any product from the marketplace. Nor does it restrict our ability to seek FDA 510(k) clearance of products. The Warning Letter states that requests for Certificates to Foreign Governments will not be granted until the violations have been corrected. Additionally, premarket approval applications for Class III devices to which the Quality System regulation violations are reasonably related will not be approved until the violations have been corrected. We presently have no such applications before the FDA." Zimmer believes that the FDA's concerns set forth in the Warning Letter can be resolved without a material impact to its financial results.

09:20 EDT KeyW wins award on GSW's IDIQ contract worth $135M - KeyW announced that the General Services Administration awarded the company a blanket purchase agreement, or BPA, under the Professional Support Services Schedule to support the Department of Defense and Defense agencies. The multiple award BPA has an estimated value of $135M over five years. Under the contract, KeyW will provide professional engineering services across the remote sensing, command control communications and computer mission areas to develop, evaluate and operate innovative capabilities for joint service needs.

09:12 EDT Sienna Biopharmaceuticals announces results from SNA-125 study - Sienna Biopharmaceuticals announced results from a first-in-human study of its investigational new chemical entity SNA-125, a JAK3/TrkA inhibitor being evaluated as a first-in-class topically administered medication to treat mild-to-moderate psoriasis. SNA-125 was developed using Sienna's Topical by Design platform, which yields new chemical entities, or NCEs, designed to deliver high local drug concentration in the target tissue with minimal to no systemic exposure for patients. SNA-125 selectively inhibits Janus kinase 3, or JAK3, and tropomyosin receptor kinase A, or TrkA. JAK3 inhibition blocks the signaling of key cytokines, resulting in reduced severity of certain autoimmune and inflammatory diseases such as psoriasis. TrkA is the high-affinity receptor for nerve growth factor, a known mediator of neurogenic inflammation associated with psoriasis, as well as pruritus. This exploratory Phase 1/2, double-blind, within-subject vehicle-controlled study in 15 subjects, using a psoriasis microplaque model, was designed to measure an effect on inflammatory skin infiltrate thickness, local tolerability, and histology and biomarkers with two doses of SNA-125 prototype gel applied once daily for 10 days. In this model, SNA-125, the second NCE from Sienna's Topical by Design platform, was well-tolerated and showed no safety signals. Neither dose of SNA-125 reduced the inflammatory skin infiltrate thickness from baseline. However, histological and biomarker analyses showed a modest, statistically significant reduction with SNA-125 0.2% in epidermal thickness from baseline, as well as modulation of certain psoriasis-relevant biomarkers and gene expression profiles.

09:09 EDT Fly Intel: Pre-market Movers - HIGHER: Cushman & Wakefield (CWK), up 1% after analysts rolled out their initial ratings on the stock following its recent IPO... Portola Pharmaceuticals (PTLA), up 8% after Credit Suisse analyst Vamil Divan upgraded the stock to Neutral from Underperform after Johnson & Johnson (JNJ)/Bayer (BAYRY) presented what was called "disappointing" data for Xarelto in the acute medically ill population... Pfizer (PFE) and Alnylam (ALNY) are up 1% and 3%, respectively, after Pfizer reported primary results from the Tafamidis Phase 3 Transthyretin Cardiomyopathy study. UP AFTER EARNINGS: American Woodwork (AMWD), up 13%. LOWER: Tesla (TSLA), down 2% after CEO Elon Musk announced late Friday that he believes keeping the company public is a better path for shareholders... Eidos Therapeutics (EIDX), down 20% after Pfizer reported results from its Phase 3 Transthyretin Cardiomyopathy study.

09:04 EDT Harris raises quarterly dividend to 68.5c per share from 57c per share - The Harris board has increased the quarterly cash dividend by 20% from 57c per share to 68.5c per share and declared a quarterly cash dividend of 68.5c per share, payable September 21, to shareholders of record on September 7. The annualized cash dividend correspondingly increases from $2.28 per share to $2.74 per share.

09:03 EDT Sterling Construction awarded $18M Dallas County, TX project - Sterling Construction Company announced that its subsidiary Texas Sterling Construction was selected by Dallas County to widen a portion of Pleasant Run Road. The $18M project consists of widening from a two lane to a four-lane divided roadway including intersection improvements. The project scope also includes enhancements to sewage lines, signal and signage, and upgraded pavement markings. The project is scheduled to begin in late August, and will be complete by April of 2020.

09:01 EDT Amgen submits sBLA for KYPROLIS in combination with dexamethasone - Amgen announced the submission of a supplemental New Drug Application to the U.S. FDA to expand the Prescribing Information for KYPROLIS to include a once-weekly dosing option in combination with dexamethasone for patients with relapsed or refractory multiple myeloma. The sNDA is based on data from the Phase 3 A.R.R.O.W. trial, demonstrating KYPROLIS administered once-weekly at 70 mg/m2 with dexamethasone achieved superior progression-free survival and overall response rates, with a comparable safety profile versus the twice-weekly KYPROLIS at 27 mg/m2 and dexamethasone.

08:59 EDT Tilray selected by Nova Scotia Liquor for initial purchase order for cannabis - Tilray Canada, a wholly owned subsidiary of Tilray, announced earlier today that it has been selected by the Nova Scotia Liquor Corporation to receive an initial purchase order for adult-use cannabis. The purchase order would allow Tilray, one of fourteen cannabis producers selected by NSLC, to supply the province of Nova Scotia with an array of cannabis products in anticipation of the launch of the adult-use market on October 17, 2018. Tilray intends to fulfill NSLC purchase orders through its affiliate High Park, which was formed to produce and distribute a broad-based portfolio of adult-use cannabis brands and products.

08:36 EDT Atento announces agreement with Unimed-Rio - Atento announced an agreement to modernize part of Unimed-Rio's customer relationship structure. With the initiative, Unimed-Rio, a cooperative of doctors and health professionals that is the main provider of healthcare services in the city of Rio de Janeiro and one of the largest in Brazil, raises the level of the customer experience it provides to its more than 740,000 beneficiaries and strengthens the organization's high standard in the healthcare industry in Brazil. The agreement also reinforces the process of digital transformation of Unimed-Rio with the gradual integration of technological resources such as bots, chats, telephones and apps services in its customer relationship operations to ensure the best experience for its beneficiaries.

08:35 EDT ServiceMaster board approves spin-off of Frontdoor - ServiceMaster Global Holdings announced that its Board of Directors approved the separation of its American Home Shield business through the distribution of at least 80.1% of the outstanding shares of common stock of its wholly owned subsidiary, frontdoor, inc. to holders of ServiceMaster common stock. At the effective time of the separation, ServiceMaster shareholders will own more than 80% of the outstanding shares of Frontdoor common stock. ServiceMaster will continue to focus on delivering residential and commercial services through nearly 8,000 owned, licensed and franchised locations across its seven brands, which operate in more than 22 countries. Frontdoor, with annual revenue of approximately $1.2B, will be the largest home service plan company in the U.S., responding to over four million service requests annually through a nationwide network of more than 2,000 employees and 15,000 pre-qualified professional contractor firms that employ more than 45,000 technicians. Following the separation, ServiceMaster's common stock will continue to trade on NYSE under the symbol "SERV." Frontdoor's common stock has been approved for listing on the NASDAQ under the symbol "FTDR."

08:32 EDT Berry Global acquires Laddawn, terms not disclosed - Berry Global Group announced that it has completed the acquisition of Laddawn. Laddawn is a manufacturer of blown polyethylene bags and films with a unique-to-industry e-Commerce sales platform. Laddawn has a proven track record in delivering strong organic growth generating over $145M of net sales for the twelve months ended July 31. Laddawn has 380 employees with five manufacturing sites spread across the United States.

08:32 EDT Weyerhaeuser names Devin Stockfish as CEO, effective Jan. 1, 2019 - Weyerhaeuser announced that Doyle Simons has elected to retire, and its board of directors has appointed Devin Stockfish as president and CEO, effective Jan. 1, 2019. Stockfish, currently senior vice president of the company's Timberlands business, will join the company's board of directors on Jan. 1, 2019, at which point Simons will step down from the board and become senior advisor until his retirement on Apr. 1, 2019. Stockfish has been Senior Vice President, Timberlands, since Jan. 1, 2018. Previously, he served as the company's Senior Vice President, General Counsel and Corporate Secretary, and as Vice President, Western Timberlands. Before joining Weyerhaeuser, he was Vice President & Associate General Counsel at Univar Inc., where he focused on mergers and acquisitions, corporate governance and securities law.

08:12 EDT MeiraGTx granted rare pediatric disease designation for AAV-CNGA3 for ACHM - MeiraGTx announced that the Offices of Orphan Products Development and Pediatric Therapeutics of the FDA have granted rare pediatric disease designation to the company's gene therapy product candidate AAV-CNGA3 for the treatment of patients with achromatopsia, or ACHM, due to mutations in the CNGA3 gene. ACHM is an inherited retinal disease that severely limits a person's sight by preventing cone photoreceptors in the eye from functioning. Individuals with ACHM are often legally blind from birth, have extreme sensitivity to light, and experience involuntary eye movements. AAV-CNGA3 is an investigational gene therapy treatment designed to restore cone function, delivered to the cone receptors at the back of the eye via subretinal injection.

08:08 EDT Pernix Therapeutics announces ruling in patent litigation - Pernix Therapeutics announced that in the company's litigation against Alvogen, the United States District Court for the District of Delaware found the asserted claims of U.S. Patent Numbers. 9,265,760 and 9,339,499, which relate to methods of treating patients with mild and moderate hepatic impairment with hydrocodone bitartrate, to be infringed, but invalid. The litigation relates to Alvogen's submission of an abbreviated new drug application, or ANDA, FDA seeking approval to market a generic version of Pernix's Zohydro ER with BeadTek. While Pernix is "pleased" that the court confirmed that Alvogen has infringed, it is "disappointed" with the court's invalidity ruling and intends to appeal this aspect of the court's decision. Absent a reversal of the court's decision, pursuant to a previous settlement agreement dated September 29, 2016, between Alvogen and Recro Gainsville, Alvogen can launch a generic version of Zohydro ER with BeadTek, subject to final approval of an ANDA from the FDA, as early as October 1, 2019. All other terms of the settlement agreement are confidential. Further, the court's decision has no immediate impact on Pernix's settlement agreement with Actavis Laboratories that was announced on January 29 and also relates to a proposed generic version of Zohydro ER with BeadTek. Under the terms of the Actavis settlement agreement, Pernix granted Actavis a license to begin selling a generic version of Zohydro ER with BeadTek on March 1, 2029. The launch of Actavis's generic product is contingent upon Actavis receiving final approval from the FDA of its ANDA for a generic version of Zohydro ER with BeadTek.

08:05 EDT Federal Realty: Splunk signs long-term lease for 700 Santana Row - Federal Realty Investment Trust (FRT) announced that Splunk (SPLK) signed a long-term lease for 301,000 square feet of office area in the Trust's 700 Santana Row, a 319,000 square foot, Class-A mixed-use office and retail building under construction at Santana Row at the intersection of Santana Row and Olsen Drive.

08:03 EDT Zebra Technologies appoints Cristen Kogl as General Counsel - Zebra Technologies announced that Cristen Kogl, Zebra's current Vice President and Assistant General Counsel will assume the role of Senior Vice President, General Counsel and Corporate Secretary, effective Sept. 1. She succeeds Jim Kaput who is retiring after successfully serving for nine years as Zebra's General Counsel. Kaput will work with Kogl to facilitate a seamless transition. Kogl joined Zebra in 2015 as Vice President, Corporate Counsel.

08:02 EDT Centene unit selected for Florida correctional medical services contract - Centene announced that the Volusia County Florida Council voted to award Centurion Detention Health Services, a contract to provide comprehensive healthcare services to detainees of the County's detention facilities located near Daytona, Florida. The award is subject to forthcoming contract negotiations. The contract is expected to commence January 1, 2019, with a base term of five years, plus five one-year renewal options.

07:56 EDT Navios Maritime appoints Jeremy Bryan COO - Navios Maritime announced the appointment of Jeremy Bryan as COO of Navios Corporation effective as of February 1, 2019. Bryan joins Navios Corporation from Cargill International where he worked since 1992. Bryan served in various positions during his tenure there, most recently as global head of drybulk trading.

07:40 EDT Bio-Path Holdings commences Stage 2 of prexigebersen trial in AML - Bio-Path Holdings announced it has commenced Stage 2 of the company's Phase 2 trial of prexigebersen in acute myeloid leukemia, or AML. The open-label Phase 2 study is evaluating the efficacy and safety of prexigebersen in conjunction with LDAC, a therapeutic regimen well established in treatment of AML patients who cannot or elect not to be treated with more intensive chemotherapy. The primary objective of the study is to determine whether the combination of prexigebersen and LDAC provides greater efficacy than would be expected with LDAC alone in this de novo patient population. Based on recommendations from the study's principal investigators, the company amended the study's protocol to change the dosing schedule in Stage 2 to that used in the Phase 1b study in relapsed and refractory AML patients as announced in April. In the Phase 1b study, a greater amount of prexigebersen was administered prior to LDAC treatment starting at day 10 versus LDAC treatment starting on day four, as was the case in Stage 1 of the current Phase 2 study. Stage 2 of the study includes a cohort of patients treated in combination with decitabine based on relatively new and positive data with this compound. Bio-Path plans to perform an interim analysis of each cohort once approximately 19 evaluable patients are reached in the cohort.

07:32 EDT CLPS acquires 80% of of InfoGain Solutions for approximately $420,000 in cash - CLPS announced that, through its subsidiary CLPS Technology Pte. Ltd., it has acquired 80% of the equity of InfoGain Solutions Pte. Ltd. for cash consideration of approximately $420,000. Established in 2013, InfoGain is a consulting and IT services company headquartered in Singapore that specializes in staff augmentation services, managed IT services, software development, and business consulting. InfoGain's 70+ full time employees service various customers with a focus on banking and financial services.

07:12 EDT Esperion announces Phase 3 bempedoic acid/ezetimibe study meets endpoints - Esperion announced "positive" top-line results from the pivotal Phase 3 bempedoic acid/ezetimibe combination pill study. This trial was a randomized, double-blind, parallel group study conducted to evaluate the efficacy and safety of the bempedoic acid 180 mg / ezetimibe 10 mg combination pill compared to bempedoic acid, ezetimibe or placebo in patients treated with maximally tolerated statins. The study included 382 high-risk patients taking maximally tolerated statins who required additional LDL-C lowering and met its key efficacy endpoints, including: on-treatment analysis LDL-C lowering of 35% for the combination pill at 12 weeks compared to 3% for placebo, 24% for ezetimibe 10 mg, or EZE, and 20% for bempedoic acid 180 mg, or BA. In the intent to treat analysis, LDL-C lowering was 32% for the combination pill compared to 3% for placebo, 21% for EZE and 18% for BA. Reduction of 34 % for the FDC in high-sensitivity C-reactive protein, an important marker of the underlying inflammation associated with cardiovascular disease, compared with an increase in placebo of 4% and reductions of 20% for BA and 9% for EZE. In a post-hoc analysis of patients considered statin intolerant, the combination pill LDL-C lowering was 43 percent in the on-treatment analysis compared to a one percent increase for placebo. In this 12-week study, the bempedoic acid / ezetimibe combo pill was observed to be safe and well-tolerated. The results showed no clinical differences between the FDC, BA, EZE and placebo patient groups. Serious adverse events with 8%, 6%, 9% and 2%, respectively. No SAEs were considered to be related to study medication. Discontinuations due to adverse events with 7%, 8%, 9%, and 4%, respectively. No elevations in liver function tests of greater than three times the upper limit of normal, repeated and confirmed were observed. Topline data from Study 2 are now expected in October. NDAs will be submitted during Q1 of 2019.

07:02 EDT AbbVie: FDA approves IMBRUVICA plus RITUXAN for treatment of WM - AbbVie (ABBV) announced that the U.S. FDA approved IMBRUVICA plus RITUXAN for the treatment of adult patients with Waldenstrom's macroglobulinemia, a rare and incurable type of non-Hodgkin's lymphoma. With this approval, the IMBRUVICA prescribing information now includes combination use with rituximab, representing the first and only chemotherapy-free combination treatment specifically indicated for the disease. IMBRUVICA was first approved as a single agent therapy for WM in January 2015. IMBRUVICA is a first-in-class Bruton's tyrosine kinase inhibitor jointly developed and commercialized by Pharmacyclics LLC, an AbbVie company, and Janssen Biotech (JNJ).

06:57 EDT Esperion trading halted, news pending

06:37 EDT Gilead's Kite says EC grants Marketing Authorization for Yescarta - Kite, a Gilead company, announced that the European Commission has granted Marketing Authorization for Yescarta as a treatment for adult patients with relapsed or refractory diffuse large B-cell lymphoma and primary mediastinal large B-cell lymphoma, after two or more lines of systemic therapy. The Marketing Authorization approves axicabtagene ciloleucel for use in the 28 countries of the European Union, Norway, Iceland and Liechtenstein

06:34 EDT Invitation Homes CEO taking temporary leave of absence - Invitation Homes announced that the company's President and CEO, Frederick Tuomi, will be taking a temporary leave of absence to care for a family member's medical issue, and will relinquish his duties as an officer and director of the company until further notice. Invitation Homes also announced that during Tuomi's temporary leave of absence, Dallas Tanner, the company's Executive Vice President and Chief Investment Officer will serve as Interim President. Tanner will also continue to serve as the company's Executive Vice President and Chief Investment Officer during this interim period. Tanner has served as the company's Executive Vice President and Chief Investment Officer since April 2012. Invitation Homes will rely on the depth of experience of its directors and executive management to ensure all of Tuomi's functions are fulfilled seamlessly and efficiently.

06:32 EDT Eclipse Resources Blue Ridge Mountain Resources to combine in all-stock merger - Eclipse Resources and Blue Ridge Mountain Resources announced that they have entered into a definitive merger agreement under which Eclipse Resources and Blue Ridge will combine in an all-stock transaction. In the Transaction, Blue Ridge stockholders will receive consideration consisting of 4.4259 shares of Eclipse Resources common stock for each share of Blue Ridge common stock, before adjustment for a 15-to-1 reverse stock split of Eclipse Resources common stock to be effected concurrently with closing of the Transaction. Based on the closing price of Eclipse Resources common stock on August 24, 2018, the Transaction implies an enterprise value for the combined company of approximately $1.4B and an equity value of approximately $908M. The Transaction has been unanimously approved by the board of directors of each company, and has been approved by the written consent of stockholders of Eclipse Resources holding a majority of the outstanding common shares of Eclipse Resources. Stockholders of Blue Ridge owning approximately 60% of the outstanding common shares of Blue Ridge have entered into a voting agreement with both companies to, among other things, vote or provide written consents in favor of approval of the Transaction, subject to certain terms and conditions. Under the terms of the Transaction, a newly-formed subsidiary of Eclipse Resources will be merged into Blue Ridge, with Blue Ridge surviving as a wholly-owned subsidiary of Eclipse Resources. In the merger, Blue Ridge stockholders will receive 4.4259 shares of Eclipse Resources common stock for each share of Blue Ridge common stock held by them, representing consideration to each Blue Ridge stockholder of $7.44 per share based on the closing price of Eclipse Resources common stock on August 24, 2018. The exchange ratio will be adjusted to reflect a 15-to-1 reverse stock split of the Eclipse Resources common stock to be effected concurrently with closing of the Transaction. Upon closing of the Transaction, existing Eclipse shareholders will own approximately 57.5% of the outstanding shares of the combined company and Blue Ridge shareholders will own approximately 42.5%. EnCap Investments, owning collectively approximately 57% of the outstanding shares of common stock of Eclipse Resources, have entered into a voting agreement with Eclipse Resources and Blue Ridge to, among other things, provide the written consents approving the Transaction, which have been delivered by them concurrently with the signing of the merger agreement. Certain stockholders of Blue Ridge owning approximately 60% of the outstanding shares of common stock of Blue Ridge have entered into a voting agreement with Eclipse Resources and Blue Ridge to, among other things, vote or provide written consents in favor of approval of the Transaction, subject to certain terms and conditions. The Transaction is expected to close in the fourth quarter of 2018 and is subject to customary regulatory approvals, approval by the holders of a majority of Blue Ridge common stock, and certain other customary closing conditions. Upon closing of the Transaction, John Reinhart, the current President and CEO of Blue Ridge, will serve as President and CEO of the combined company. It is anticipated that there will be four direct reports to the CEO. Matthew DeNezza, the current Executive Vice President and CFO of Eclipse Resources, will serve as the interim CFO for the combined company through November 30, 2018 or until the permanent CFO is publicly announced prior to November 30, 2018. Oleg Tolmachev, the current Executive Vice President and COO of Eclipse Resources, will continue to serve the combined company in that capacity. Paul Johnston, currently Senior Vice President and General Counsel of Blue Ridge, will become Executive Vice President and General Counsel of the combined company. Matthew Rucker, currently Vice President Resource Planning and Development of Blue Ridge, will become Senior Vice President Resource Planning and Development for the combined company. At closing, the board of directors of Eclipse Resources will become a declassified board and will consist of a total of ten directors, five designated by Eclipse Resources and five designated by Blue Ridge (one of whom will be John Reinhart).

06:22 EDT HFF Inc. announces sale of The Lex in Chicago's South Loop - Holliday Fenoglio Fowler announces the sale of The Lex, a 332-unit, high-rise apartment property in Chicago's South Loop. The property was purchased free and clear of existing financing.

06:02 EDT Wright Medical to acquire Cartiva for $435M in cash - Wright Medical Group announced it has entered into a definitive agreement to acquire Cartiva, a private orthopaedic medical device company focused on treatment of osteoarthritis of the great toe. The transaction will add a differentiated PMA-approved technology for a high-volume foot and ankle procedure and further accelerates growth opportunities in Wright's global Extremities business. Under the terms of the agreement with Cartiva, Wright will acquire 100% of Cartiva's outstanding equity on a fully diluted basis for a total price of $435M in cash. Wright expects full-year 2018 Cartiva revenues to be approximately $35M, which represents approximately 50% growth over 2017, with gross margins and adjusted EBITDA margins accretive to Wright. The company anticipates funding the purchase price through the sale of equity securities at some time prior to closing of the Cartiva transaction. The Cartiva transaction is expected to close in the fourth quarter of 2018. The Cartiva acquisition agreement does not contain a financing contingency. This press release is not an offer to sell or a solicitation of offers to buy any securities. Any financing will be conducted pursuant to separate offering materials. The transaction has been unanimously approved by the Boards of Directors of Wright and Cartiva, and by the requisite vote of the Cartiva stockholders. The transaction is expected to close in the fourth quarter of 2018, subject to the satisfaction of customary closing conditions, including Hart Scott Rodino clearance.

05:44 EDT Marcus & Millichap division sells San Dimas multifamily property for $78.5M - Institutional Property Advisors, a division of Marcus & Millichap, announces the sale of Trails at San Dimas, a 288-unit apartment property in San Dimas, California. The asset sold for $78.5M, or $272,569 per unit.

05:23 EDT Qudian says agreement with Ant Financial to end this month - Qudian announced Friday morning in its earnings release, "The Company's agreement with Ant Financial relating to user engagement through Alipay's dedicated channel for online third-party service providers expires in August 2018, and the parties have decided not to renew the agreement. The Company has primarily engaged users through its own mobile apps since the first quarter of 2018, and it does not expect the non-renewal to have a material impact on the Company's current business."

05:18 EDT Loxo Oncology announces submission of larotrectinib MAA to EMA by Bayer - Loxo Oncology (LOXO) announced that its collaboration partner, Bayer (BAYRY), has submitted a marketing authorization application, or MAA, for larotrectinib to the European Medicines Agency, or EMA. Larotrectinib is being investigated to potentially treat adult and pediatric patients with locally advanced or metastatic solid tumors with a neurotrophic tyrosine receptor kinase gene fusion.

05:14 EDT Jazz Pharmaceuticals announces EU marketing authorization for Vyxeos - Jazz Pharmaceuticals announced that the European Commission approved Vyxeos 44 mg/100 mg powder for concentrate for solution for infusion for the treatment of adults with newly diagnosed, therapy-related acute myeloid leukaemia or AML with myelodysplasia-related changes. Vyxeos is an advanced liposomal formulation that delivers a synergistic molar ratio of daunorubicin and cytarabine.

05:11 EDT iQIYI enters partnership with Ctrip - iQIYI (IQ) announced it has come to a far-reaching new partnership with Ctrip (CTRP). Under the agreement, iQIYI V7 VIP members will be able to enjoy all of the exclusive perks available to Ctrip's Prime Members, including discounts on hotel bookings and entry to sightseeing attractions, fast track airport security service, priority access for purchasing train tickets, as well as experience the comfort of Ctrip's airport VIP lounges. The benefits will be available to V7 VIP members for one year after activation and the offer can be redeemed before June 30, 2019.

04:55 EDT Electronic Arts calls shooting at Madden tournament 'senseless act of violence' - Electronic Arts issued a statement via Twitter on the shooting yesterday at a Madden NFL tournament in Jacksonville, Florida. EA called the "tragic situation" a "senseless act of violence" and said it is "devastated by this horrific event." Reference Link