Stockwinners Market Radar for September 14, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:51 EDT Teva announces FDA approval of AJOVYTM injection - Teva announced that the U.S. FDA has approved AJOVYTM injection for the preventive treatment of migraine in adults. AJOVY, a humanized monoclonal antibody that binds to calcitonin gene-related peptide ligand and blocks its binding to the receptor, is the first and only anti-CGRP treatment for the prevention of migraine with quarterly and monthly dosing options.

18:01 EDT Cisco exec Tan sells 68,308 common shares - In a regulatory filing, Cisco Systems senior VP of operations Irving Tan disclosed the sale of 68,308 common shares of the company at a price of $47.3802 per share.

17:22 EDT Lockheed Martin awarded $137.2M U.S. Air Force contract modification - Lockheed Martin Space Systems has been awarded a $137,187,386 fixed-price-incentive-fee modification to contract FA8810-13-C-0002 for space-based infrared system contractor logistics support. The modification is for exercising the option period for operations, sustainment and factory infrastructure support services for the space-based infrared system from Oct. 1, 2018, to Sept. 30, 2019.

17:02 EDT TransGlobe names Randall Neely as new CEO - TransGlobe Energy announces that, as part of the company's ongoing succession planning, Ross Clarkson will retire as the company's CEO effective December 31, 2018. Randall Neely, TransGlobe's current President, will assume the role of President and Chief Executive Officer. Mr. Clarkson will remain with the company as a Non-executive Director and both Mr. Clarkson and Mr. Neely intend to stand for re-election to the company's Board of Directors at the AGM in 2019.

16:57 EDT Valour Fund reports 5.4% passive stake in Opiant Pharmaceuticals

16:22 EDT Adamas Pharmaceuticals COO to leave company, citing personal reasons - According to a regulatory filing, Adamas Pharmaceuticals, Inc. announced that on September 13, 2018, Richard A. King, Chief Operating Officer of Adamas, informed Adamas that effective September 15, 2018, he will depart from his position as Chief Operating Officer for personal reasons. Dean Hart, Senior Vice President of Sales, and Melissa Masterson, Senior Vice President of Commercial Operations and Market Access, will continue to lead the commercial efforts, reporting directly to Gregory Went, Chief Executive Officer.

16:19 EDT Harris exec sells 24,670 common shares - In a regulatory filing, Harris communication systems president Christopher D. Young disclosed the sale of 24,670 common shares of the company at a price of $161.55 per share.

16:17 EDT Quantum says certain financial statements 'should no longer be relied upon' - Quantum announced that the Special Committee of its Board of Directors has substantially completed its internal investigation. The Committee conducted the investigation with the assistance of independent advisors. In connection with the investigation, the Board of Directors has concluded that there were misstatements in the Company's previously issued consolidated financial statements and other financial information relating to the recognition of revenue for certain transactions prior to satisfying the criteria for revenue recognition required under U.S. GAAP. The misstatements generally concerned the timing of the recognition of revenue. Revenue previously recognized prematurely will be recognized in different historical periods or, where the criteria for recognition of revenue under GAAP have not yet been satisfied, may be recorded in future periods upon satisfaction of the criteria required by GAAP. Based on its preliminary analysis, which is subject to change, the Company estimates that: (i) as of September 30, 2017, the end of the last fiscal quarter to be publicly reported by the Company, there was between approximately $25 million to $35 million of prematurely recognized revenue in the historical periods that may be recognized in periods subsequent to that date upon satisfaction of the criteria required by GAAP; and (ii) as of June 30, 2018, the end of its most recently completed fiscal quarter, there was between approximately $15 million and $25 million of prematurely recognized revenue in the historical periods that may be recognized in future periods upon satisfaction of the criteria required by GAAP. These misstatements will not impact the Company's historical or current cash and cash equivalents balances. The Company's Board of Directors continues to have the utmost confidence in the Company's recently appointed CEO and CFO, each of whom were not with the Company during the time covered by the investigation and were not involved in any of the transactions identified in connection with the investigation. The Company is also evaluating the impact of these misstatements on the Company's internal control over financial reporting and disclosure controls and procedures, and expects to report one or more material weaknesses in internal control over financial reporting related to these matters and to report that its internal control over financial reporting and disclosure controls and procedures were not effective during the periods containing these misstatements, as well as in subsequent periods until such material weakness or weaknesses are remediated. The Company has begun to implement, will continue to implement and will continue to evaluate additional remedial measures based on the findings from the investigation. As a result of the misstatements identified by the Company, the Board of Directors, in consultation with the Audit Committee of the Board and the Company's management, has concluded that the Company's previously issued consolidated financial statements and other financial data for the fiscal years ended March 31, 2015, 2016 and 2017 contained in its Annual Reports on Form 10-K, and its condensed consolidated financial statements for the quarters and year-to-date periods ended June 30, 2015, September 30, 2015, December 31, 2015, June 30, 2016, September 30, 2016, December 31, 2016, June 30, 2017 and September 30, 2017 contained in its Quarterly Reports on Form 10-Q should no longer be relied upon and should be restated. As part of the restatement process, the Company is continuing to assess the accounting matters related to the investigation, including the determination and quantification of misstatements, and will assess any other potential items for correction as needed. This assessment is ongoing, and although sufficient information is available to support the determination to restate the financial statements referred to above, the Company has not yet made any findings on the specific amounts to be set forth in the restated results. The Company is proceeding as expeditiously as possible to complete its quantification and evaluation of the impact of the identified misstatements on its previously issued financial statements. Due to the procedures required before such process can be completed, the Company is not able to predict at this time the exact dates for such filings. The Company will provide additional information regarding these misstatements and the consequent adjustments to its financial statements and expects to file the restated financial statements as soon as practicable.

16:16 EDT Weekly CFTC Commitment of Traders highlights - S&P500 net long 1.5K contracts, down 0.5K from prior week... 10-YEAR U.S. TREASURY net short 682.7K contracts, down 0.1K from prior week... U.S. DOLLAR INDEX net long 34.5K contracts, up 1.0K from prior week... EURO net long 11.2K contracts, 2nd consecutive week of net long position and a 6-week high in net longs... BRITISH POUND net short 61.2K contracts, down 8.4K from prior week and a 4-week low in net shorts... JAPANESE YEN net short 53.9K contracts, up 2.0K from prior week and a 4-week high in net shorts... CANADIAN DOLLAR net short 26.9K contracts, up 0.6K from prior week... CRUDE OIL net long 543.8K contracts, down 21.9K from prior week... GOLD net short 7.6K contracts, down 5.9K from prior week... COPPER net short 8.9K contracts, up 2.9K from prior week and biggest net short position since September 2016.

16:12 EDT 12 West Capital reports 5.2% passive stake in RYB Education

16:06 EDT Four Corners Property Trust acquires 3 Chili's restaurant properties for $9M - Four Corners Property Trust (FCPT), a real estate investment trust engaged in the ownership of high-quality, net-leased restaurant properties is pleased to announce the acquisition of three corporate-operated Chili's restaurants through a sale-leaseback transaction with certain subsidiaries of Brinker International, Inc. (EAT) for a purchase price of $9.0M on initial annual cash rent of approximately $570,000. The properties are under individual leases with 15 years of initial term, rent increases of 10% every five years during the initial term and have a corporate guarantee from Brinker International, Inc. FCPT believes that rent is well-supported with conservative EBITDAR coverage, averaging 3.8x for the three restaurants. The properties are located in Texas and Oklahoma, and are within well-located retail corridors with high traffic and attractive demographics. This transaction is independent from and not related to our previous Brinker transaction announced in August 2018.

16:02 EDT Associated Banc-Corp names Michael Meinolf CIO - Michael Meinolf, currently senior vice president and business solutions manager, has been promoted to executive vice president and chief information officer effective September 11, 2018. Meinolf brings more than 20 years of industry experience to the role. He joined Associated in 2015 and has held a number of senior management positions in information technology. In his new role, Meinolf will be responsible for the overall direction, leadership and results of the corporation's information technology systems and strategies as well as key operational activities. Meinolf will serve as a member of the executive committee and be based in Milwaukee.

15:16 EDT Indiana American Water seeks to recover over $542M infrastructure investment - Indiana American Water today filed a petition with the Indiana Utility Regulatory Commission to adjust its rates for water service in the communities it serves across the state. Indiana American Water's ongoing infrastructure investments are the primary driver behind the request. The company is including more than $542M of water infrastructure investments in its request. The investments are necessary to maintain and enhance service, water quality, system reliability, and fire protection capabilities for customers while keeping the cost of water service for most households their most affordable utility bill at about a penny per gallon. The company last filed for new rates through a general rate filing in January 2014 and received an order from the IURC in January 2015.

15:04 EDT Allergan says Medical Aesthetics business has potential to double by 2025 - Allergan hosted its first ever Medical Aesthetics analyst day, where the company said its comprehensive portfolio of facial aesthetics, body contouring and plastic and regenerative medicine products is expected to grow at an 8-10% CAGR from 2017 to 2025. The business could generate net sales of approximately $7B-$8B in 2025 from $3.8B in 2017. Allergan noted that its Medical Aesthetics R&D team expects to invest more than $1B on Medical Aesthetics innovation through 2025 and expects to introduce one or two new products each year between 2018 and 2025. Allergan also said it intends to increase the size of the U.S. Facial Aesthetics sales force by 20% to increase service levels and drive the expansion of the company's reach by approximately 5,000 practices and enable representatives to spend twice as much time with its top customers. Allergan and Alibaba's (BABA) healthcare platform AliHealth announced a strategic partnership in which the companies will launch a medical aesthetics consumer education and consultation platform for the Chinese market, designed to further guide Chinese consumers to choose qualified medical aesthetics hospitals, doctors and products when pursuing treatment. Allergan also announced its intent to form a collaboration with HintMD, a subscription-based service administered through Medical Aesthetics practices, to decrease barriers to patient acceptance of Medical Aesthetics treatments.

14:48 EDT R.J. Reynolds says FDA to continue evaluation of Camel Snus modified-risk claims - R.J. Reynolds said the Tobacco Products Scientific Advisory Committee, a scientific advisory committee of the U.S. Food and Drug Administration, "recognized that the available science supports that switching completely from cigarettes to Camel Snus can significantly reduce smokers' risk of lung cancer and respiratory disease, although the committee was evenly divided on claims regarding oral cancer and heart disease." To date, the FDA has not issued an MRTP marketing order. The FDA will take the TPSAC's recommendation into consideration as it independently evaluates and makes a determination based on its own review. "We appreciate the committee's thoughtful and robust discussion of the specific language that should appear in modified-risk advertising for Camel Snus and are pleased it agrees with some of our proposed messages. The committee's insight should be of great value to the FDA, and we look forward to working with the FDA as it evaluates our applications," said James Figlar, executive VP of research and development of R.J. Reynolds. R.J. Reynolds Tobacco is an indirect subsidiary of Reynolds American Inc., which is an indirect, wholly owned subsidiary of British American Tobacco.

13:39 EDT Opko Health says will 'vigorously' defend itself against charges filed by SEC - OPKO Health confirmed that The Nasdaq Stock Market has lifted the trading suspension of OPKO's shares. As noted previously, OPKO and 19 other defendants, including Dr. Phillip Frost, its CEO and Chairman, were named in a Complaint filed on September 7 by the Securities and Exchange Commission. The company will vigorously defend itself against these charges. As noted previously, the SEC's lawsuit does not contain any allegations about OPKO's financial practices, financial statements or business practices.

13:17 EDT Ingredion boosts quarterly dividend to 62.5c per share from 60c - The Board of Directors of Ingredion Incorporated declared a quarterly dividend of 62.5c per share on the company's common stock. The dividend is payable on October 25 to stockholders of record at the close of business on October 1. This is the fourth consecutive year that Ingredion's Board has approved a quarterly dividend increase in the third quarter. The company's previous quarterly dividend was 60c per share.

13:14 EDT United Tech CEO sees 'solid' organic growth next year - CEO Greg Hayes said he thinks both CCS and Otis will see "solid" organic growth in 2019, "not at the same level of what we've seen on the aerospace side," but likely in the 3%-4% range.

12:59 EDT Namaste down 10% after Citron predicts 80% downside in shares - Shares of Namaste Technologies (NXTTF) are falling after short-seller said in a tweet that the stock can fall 80%. Citron tweeted, "Namaste $N Canada. Some cannabis stocks are overvalued, and some are total jokes. This is a joke Drop it like its hot' after the pledge party prohibits listing in US, downside: 80%. That .50...$N, Canada. urgent update: Quebec newspaper highlights Namaste's illegal activities and Quebec investigation in $N for violation of laws. Tilray quickly drops $N, shareholders are next." Citron on September 4 announced a short position in Tilray (TLRY). Shares of Namaste Technologies are down 12%, or 29c, to $2.07 in afternoon trading while Tilray is down 10%, or $10.36, to $107.35.

12:51 EDT Opko Health to resume trading today at 13:15 PM ET - The Nasdaq Stock Market announced that trading in OPKO Health is scheduled to resume today at 13:15 p.m. Eastern Time. Trading in the company's stock was halted on September 7.

12:46 EDT United Technologies CEO says he sees Rockwell Collins deal closing this month

12:28 EDT Exelon 'pleased' U.S. Court upholds legality of Illinois' zero-emissions credits - Exelon Corporation issued a statement in response to the U.S. Court of Appeals for the Seventh Circuit's decision upholding the legality of the zero-emissions credit program in Illinois' Future Energy Jobs Act: "We are pleased to see that the 7th Circuit Court upheld the decision, thus supporting the continued operation of Illinois' ZEC program and the clean, resilient and affordable electricity nuclear power provides."

12:00 EDT Owens-Illinois rises 8.5% - Owens-Illinois is up 8.5%, or $1.51 to $19.25.

11:48 EDT Citi to pay more than $12M after SEC charges for dark pool misrepresentations - The Securities and Exchange Commission entered an order finding that Citigroup Global Markets Inc. misled users of a dark pool operated by one of its affiliates. The SEC's order found that Citigroup misled users with assurances that high-frequency traders were not allowed to trade in Citi Match, a premium-priced dark pool operated by Citi Order Routing and Execution, when two of Citi Match's most active users reasonably qualified as high-frequency traders and executed more than $9B of orders through the pool. The SEC's order found that Citigroup violated an antifraud provision of the federal securities laws and that CORE violated a registration provision. Without admitting or denying the findings in the SEC's order, Citigroup and CORE have agreed to be censured. Citigroup will pay disgorgement and prejudgment interest totaling $5,437,475 and a penalty of $6.5 million. CORE will pay a penalty of $1M.

11:25 EDT Adobe CEO says 'very pleased with portfolio we have' in Cloud - Adobe CEO Shantanu Narayen, asked about M&A during an interview on CNBC, said he is "very pleased with the portfolio" the company has in the Cloud. A recent report from Reuters claimed that Adobe is in talks to buy privately-held cloud-based marketing software company Marketo.

11:03 EDT Nutrien responds to statement from SQM on Tianqi-FNE agreement in Chile - Nutrien (NTR) provides the following response to Sociedad Quimica y Minera de Chile (SQM) "extraordinary and self-serving" decision to issue a press release on the agreement between Fiscalia Nacional Economica and Tianqi Lithium Corporation. The company said, "Nutrien is required by orders of the Chinese and Indian competition authorities to divest its shareholding interest in SQM as a condition of receiving merger approval. Tianqi has agreed to bid for a certain number of the shares through an auction process on the Santiago Stock Exchange. Tianqi's proposed purchase has been reviewed and approved by all competition authorities where required elsewhere in the world. The Chilean Antitrust Regulator has thoroughly reviewed the proposed transaction and reached agreement with Tianqi on certain remedial measures which in the view of FNE, address any and all potential competition issues. As is routine and required in such cases, the agreed upon settlement agreement is reviewed by the Tribunal de Defensa de la Libre Competencia of Chile. The TDLC conducted a hearing yesterday, which was attended by FNE, Tianqi and several intervening parties including Nutrien and SQM. SQM claims to object to Tianqi investing in the company because it is in the lithium business. Potash Corporation of Saskatchewan was a large minority stakeholder in SQM and appointed directors to SQM's Board for almost 15 years. Over that time period, the SQM Board did not identify this as an issue and in fact welcomed this arrangement. Pursuant to the FNE-Tianqi settlement agreement, the governance rights that Tianqi will hold once the transaction is finalized are significantly lower than those held by PotashCorp. The only difference appears to be the country of origin of the minority equity shareholder. Publicly traded companies do not decide who can buy their shares as a minority owner. The actions that SQM have taken also brings into question the company's openness to foreign investment, a position that can only harm SQM shareholder value. Given SQM's efforts to interfere with the proposed transaction, Nutrien is evaluating all potential responsive actions. Despite the efforts of SQM to distort the rule of law, we are confident that the Chilean regulatory and court systems are fair and impartial and that SQM will not succeed in its attempt to frustrate this transaction."

10:37 EDT FDA accepts U.S. Smokeless Tobacco Modified Risk Tobacco Product application - U.S. Smokeless Tobacco, a wholly-owned subsidiary of Altria Group, announced that the FDA accepted and filed for substantive scientific review a Modified Risk Tobacco Product application for its moist smokeless tobacco product Copenhagen Snuff Fine Cut. The application requests FDA authorization to make one claim: "IF YOU SMOKE CONSIDER THIS: Switching completely to this product from cigarettes reduces risk of lung cancer." The Agency will begin a substantive scientific review process, which includes opportunities for public comment.

10:28 EDT Before the Move: Watch Microsoft ahead of potential dividend boost - Microsoft (MSFT) has been paying dividends since 2003, growing them every year for over a decade, and usually announces the raise on the third Tuesday of September. While shares have underperformed the market the day after the dividend announcement, Morgan Stanley analyst Keith Weiss expects this time to be different as investors have higher confidence in the durability of growth and an increase in the dividend yield above 2% would likely attract more income-oriented investors. 'BIG' DIVIDEND RAISE: In a research note to investors late last month, Morgan Stanley analyst Keith Weiss highlighted that Microsoft typically announces a dividend raise in mid-September and pointed out that the company has raised its dividend by an average of 14% annually since the financial crisis in 2009, when the dividend was unchanged. Microsoft has underperformed the market the day after its dividend announcement in nine of the past 12 years, but Weiss believes this time may prove different as investors have higher confidence in the durability of growth at Microsoft and an increase in the dividend yield above 2% would likely attract more income-oriented investors. Furthermore, the analyst said he sees a higher probability of an above average dividend raise in September, noting that an increase of over 20% constitutes a raise larger than "normal" and would allow the dividend yield to return to above 2% despite strong stock performance over the last year. Moreover, Weiss noted that he does not think that returning additional capital to shareholders will limit growth in any way -- through acquisitions, CapEx, or investments in sales, marketing, or research and development -- given Microsoft's cash position and strong free cash flow generation looking forward. The analyst has an Overweight rating and $130 price target on Microsoft shares. PRICE ACTION: In morning trading, shares of Microsoft have gained about 0.5% to $113.48. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

10:18 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly. 1. CITI WORKING ON ALTERNATIVE TOOL FOR CRYPTO TRADING: Citi (C) is working on a plan to offer "digital asset receipts," or DARs, which are designed to enable trading by proxy of cryptocurrencies like Bitcoin without direct ownership of the underlying assets, Business Insider reported Monday. The structure is designed to fall within current regulatory regime. 2. MORGAN STANLEY PLANS TO OFFER BITCOIN SWAP TRADING: Morgan Stanley (MS) is planning to deal in contracts that give investors synthetic exposure to the performance of bitcoin, Bloomberg reported Thursday. Investors will be able to go long or short using the price return swaps and the bank will charge a spread for each transaction. 3. SEC CHARGES DIGITAL FUND MANAGER: On Tuesday, the Securities and Exchange Commission announced its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets. The SEC entered an order finding that Crypto Asset Management offered a fund that operated as an unregistered investment company while falsely marketing it as the "first regulated crypto asset fund in the United States." According to the SEC's order, CAM and its sole principal Timothy Enneking raised over $3.6M over a four-month period in 2017 while falsely claiming that the fund was regulated by the SEC. After being contacted by the SEC, CAM ceased its public offering and offered buy backs to affected investors. 4. OVERSTOCK COMPANY LAUNCHES DIGITAL WALLET BETA: Medici Ventures, a subsidiary of Overstock.com (OSTK), announced Friday that its portfolio company Bitsy.com has commenced the limited beta launch of a digital wallet service. The initial beta release of the technology will support bitcoin purchases, with additional cryptocurrencies to follow. Medici Ventures plans to use the Bitsy service to offer bitcoin for sale on the Overstock website. 5. IDEANOMICS ANNOUNCES DEALS: On Tuesday, Ideanomics (SSC), formerly known as Seven Stars Cloud Group, announced a three-year, $6B deal with First Auto Loan and said financing activities will be completed through a hybrid of both traditional distribution channels and Velocity Ledger's blockchain-based offering. On Wednesday, the company announced a joint venture with Asia Times Holdings, a provider of online English language business and financial news on Asia, and a 10% ownership stake in the company. On Thursday, Ideanomics announced an agreement to acquire secure communications and information platform FinTalk and also announced a transaction with Liberty Biopharma in order to deliver asset digitization for green, clean tech, medical and healthcare industries. 6. RIOT BLOCKCHAIN NAMES NEW CEO: On Saturday, Riot Blockchain (RIOT) announced that Chief Operating Officer Chris Ensey would be named chief executive officer in connection with a restructuring of the company's senior executives. The move follows the resignation of John O'Rourke, chairman and CEO and comes after the SEC alleged that Barry Honig, a Florida investor who was once Riot's largest shareholder, engaged in "pump-and-dump" schemes that enriched defendants and "left retail investors holding virtually worthless shares." In addition, current lead director Remo Mancini was appointed as chairman. CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock, DPW Holdings (DPW), Kodak (KODK), Ideanomics, Riot Blockchain, Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin rose about 1% this week to $6,441 in U.S. dollars, according to CoinDesk. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

10:00 EDT PGT, Inc. falls -6.4% - PGT, Inc. is down -6.4%, or -$1.52 to $22.48.

10:00 EDT NiSource falls -9.9% - NiSource is down -9.9%, or -$2.79 to $25.29.

10:00 EDT Realogy rises 5.2% - Realogy is up 5.2%, or $1.03 to $20.84.

09:51 EDT NIO Inc (Class A ADS) trading resumes

09:47 EDT Permianville Royalty Trust falls -8.1% - Permianville Royalty Trust is down -8.1%, or -29c to $3.35.

09:47 EDT Realogy rises 5.5% - Realogy is up 5.5%, or $1.08 to $20.89.

09:47 EDT Kingsway Financial rises 8.6% - Kingsway Financial is up 8.6%, or 25c to $3.15.

09:33 EDT KBS Fashion wins supply agreement with Taihu County Public Security Bureau - KBS Fashion Group announced its wholly-owned subsidiary Anhui Kaixin won a supply agreement with Anhui Province's Taihu County Public Security Bureau for police uniforms. According to the term, Kaixin will supply 1,200 sets police uniforms along with accessories and valued at RMB467,600. An additional supply agreement with Traffic Police Division, a sub-unit of Taihu County Public Security Bureau is expected to be signed at the end of September.

09:17 EDT Allergan to acquire Bonti for upfront payment of $195M - Allergan announced it has agreed to acquire Bonti, Inc., a privately held clinical-stage biotechnology company focused on the development and commercialization of novel, fast-acting neurotoxin programs for aesthetic and therapeutic applications. Following completion of the acquisition, Allergan will obtain global rights to Bonti's pipeline consisting of two botulinum neurotoxin serotype E programs currently in Phase 2 development, EB-001A and EB-001T. The active ingredient in both programs, EB-001, is a novel botulinum neurotoxin serotype E with a unique clinical profile, characterized by a rapid onset of action within 24 hours and a 2 to 4-week duration of effect. Bonti recently announced topline results of the first clinical study of EB-001 in glabellar frown lines. The study confirmed both the safety and efficacy of the differentiated profile. Allergan will acquire Bonti for an upfront payment of $195M and additional potential commercial milestone payments, subject to certain adjustments and other customary closing conditions.

09:11 EDT Infosys to Acquire Fluido, terms not disclosed - Infosys (INFY) announced a definitive agreement to acquire Fluido, the leading Salesforce (CRM) advisor and consulting partner in Nordics and a recognized leader in cloud consulting, implementation and training services. Executing on its strategy to help clients navigate the next in their digital transformation journey, this acquisition strengthens Infosys' position as a leading Salesforce enterprise cloud services provider, and enhances its ability to provide clients an unparalleled cloud-first transformation. The acquisition of Fluido is expected to close during the third quarter of fiscal 2019, subject to customary closing conditions

09:02 EDT Arthur J. Gallagher acquires Rogers & Young Insurance Services, terms undislosed - Arthur J. Gallagher & Co. announced the acquisition of Windsor, California-based Rogers & Young Insurance Services. Terms of the transaction were not disclosed. Founded in 1958, Rogers & Young Insurance Services is a diversified commercial and personal lines agency with a focus on contractors and construction clients.

09:01 EDT Fly Intel: Pre-market Movers - HIGHER: Realogy (RLGY), up 6% after news that the stock will be added to the S&P 400... STAAR Surgical (STAA), up 10% after FDA approval of Visian Toric ICL... Argenx (ARGX), up 5% after Stifel analyst Derek Archila initiated the stock with a Buy rating and a price target of $139. The analyst says he is bullish on the anti-FcRn class as treatments for autoimmune diseases, adding that its lead program efgartigimod is "sufficiently de-risked." UP AFTER EARNINGS: Champions Oncology (CSBR), up 19%... Dave & Buster's (PLAY), up 2%... Sears Holding (SHLD), up 16%. LOWER: IRIDEX (IRIX), down 19% after its 1.667M share spot secondary priced at $6.00... Tandem Diabetes (TNDM), down 4% after Baird analyst Jeff Johnson downgraded the stock to Neutral from Outperform following its "fantastic run" this year... NN, Inc. (NNBR), down 4% after its 12.5M share secondary priced at $16.00... NiSource (NI), down 7% after an "over-pressurization of a gas main" that belongs to NiSource subsidiary Columbia Gas of Massachusetts resulted in gas explosions near Boston that killed at least one person and destroyed property.

08:44 EDT Takeda reports clearance from SAMR of China for proposed acquisition of Shire - Takeda Pharmaceutical (TKPYY) announces that it has received unconditional clearance from the State Administration for Market Regulation in China, or "SAMR," for the proposed acquisition of Shire plc (SHPG) announced on May 8, 2018. SAMR's unconditional clearance of the acquisition is another key step in the transaction process, Takeda said. As announced on July 10, 2018, Takeda has received unconditional clearance for the acquisition from the U.S. Federal Trade Commission. As confirmed on August 28, 2018, Takeda has received unconditional clearance from the Brazilian Administrative Council for Economic Defense. The acquisition remains subject to a number of conditions, including receipt of other regulatory clearances and approval by the shareholders of both companies.

08:36 EDT Superior Industries names Matti Masanovich EVP, CFO - Superior Industries International, announced the appointment of Matti Masanovich as EVP and CFO effective September 16, 2018. Prior to joining Superior, Masanovich was the SVP and CFO at General Cable Corporation from November 2016 to July 2018.

08:34 EDT Enduro Royalty changes name to Permianville Royalty Trust - Enduro Royalty Trust (NDRO) announced that the Trust has changed its name to "Permianville Royalty Trust (PVL)" as of the opening of trading on Friday, September 14.

08:31 EDT AMC Entertainment declares special dividend of $1.55 per share - Approximately $160M of the proceeds from the Convertible Notes will fund a $1.55 per share special dividend to all AMC Class A and Class B shareholders. The dividend will be payable on September 28, 2018 to all shareholders of record as of September 25, 2018. The special dividend will not be paid to Wanda on the shares repurchased by AMC. The conversion price of the Notes will be reduced by an amount equal to the special dividend.

08:28 EDT AMC expects Silver Lake transaction to be cash flow accretive in 2019 and beyond - Adam Aron, AMC CEO and president said, "We are very excited to welcome a new highly sophisticated investor with a great track record of success. Silver Lake believes in the inherent value of AMC now, and in the likelihood of AMC's success going forward resulting from our global leadership position and our proven growth strategies. We expect that Silver Lake will add significant value to AMC as it comes into our Boardroom, given its longstanding experience and savvy in the technology and media sectors. We are also truly pleased that Wanda is continuing with its longstanding commitment to AMC. Wanda's majority ownership began in 2012, and they are expected to remain a sizable and supportive shareholder for AMC into the future. Wanda has been a terrific shareholder, and I have the highest respect and affection for the Wanda executives with whom we regularly interact. We believe the intricacies and deployment of the Convertible Notes we have chosen are particularly compelling. Importantly, this transaction is accretive from a free-cash-flow perspective in 2019 and beyond, as the interest expense arising from these new Convertible Notes is more than fully offset by the cash dividend savings on the shares we have repurchased from Wanda. The spread between the $17.50 per share repurchase price from Wanda and the equity conversion price for Silver Lake is also appealing. The transaction also eliminates the uncertainty and share price volatility surrounding any potential offering at this time of Wanda's shares directly into the market. Additionally, we also believe that all of our shareholders will benefit from the $1.55 per share special dividend being paid a few weeks from now."

08:25 EDT AMC Entertainment closes on $600M strategic investment from Silver Lake - AMC Entertainment Holdings announced today it has entered into an agreement with Silver Lake. Under the agreement, AMC has issued $600M senior unsecured convertible notes due 2024, bearing interest at 2.95% and convertible into AMC Class A common shares at $20.50 per share, before giving effect to the special dividend announced today. At $20.50 per share, the pre-dividend conversion price reflects a 17.1% premium to the Reference Price. The Convertible Notes were issued September 14, 2018. A portion of the proceeds from the Convertible Notes has been used to repurchase 24,057,143 AMC Class B Common shares from, Dalian Wanda Group, which represents 31.7% of the AMC Class B common shares held by Wanda, at a price of $17.50 per share. Wanda now owns 51,769,784 AMC Class B Common shares. A portion of the proceeds from the Convertible Notes will also be used to pay a $1.55 per share special dividend on September 28, 2018 to all AMC Class A Common and Class B Common shareholders of record as of September 25, 2018. The remainder of the proceeds will be used for transaction expenses and general corporate purposes. As part of the transaction, Silver Lake will appoint one director to the AMC Board of Directors. AMC has also agreed to add a new independent director to its Board who will have significant technology experience and knowledge, with support from Silver Lake. Additionally, Silver Lake has a two-year right of first refusal on certain future transfers of AMC shares by Wanda, reflecting Silver Lake's confidence in AMC. After a substantial and thorough review of the transaction by a special committee of the AMC Board of Directors, with the assistance of its legal and financial advisors, the transaction was unanimously recommended by the Special Committee for the subsequent approval of the AMC Board of Directors

08:16 EDT Pieris Pharmaceuticals to present data from AZD1402/PRS-060 at ERS - Pieris Pharmaceuticals announced that preclinical data for AZD1402/PRS-060 will be presented at two poster sessions at the European Respiratory Society, or ERS. PRS-060, an inhaled IL-4 receptor alpha antagonist, the lead candidate in Pieris' respiratory collaboration with AstraZeneca, is currently in Phase 1 clinical development.

08:12 EDT Norsk Hydro, Rio Tinto end acquisition process for Icelandic aluminium plant - Hydro (NHYDY) and Rio Tinto (RIO) have signed an agreement to end the acquisition process for Rio Tinto's Icelandic aluminium plant ISAL, including its interests in Dutch anode facility Aluchemie and Swedish aluminium fluoride plant Alufluor. In February 2018, Hydro made a binding offer to acquire Rio Tinto's Icelandic aluminium plant Rio Tinto Iceland Ltd, its 53% share in Dutch anode facility Aluminium & Chemie Rotterdam B.V. and 50% of the shares in Swedish aluminium fluoride plant Alufluor AB for an enterprise value of $345M. A Sale and Purchase Agreement was signed on June 8, following successful consultations with Rio Tinto employees in France and the Netherlands. The transaction remained subject to a number of conditions, including approval by competition authorities, Icelandic governmental authorities and commercial parties. The transaction was initially expected to be finalized in the second quarter of 2018.The European Commission competition approval process has taken longer than anticipated and remains outstanding. After considering alternative timelines, outcomes and developments, Hydro requested to terminate the transaction and the parties have signed a termination agreement. Hydro has withdrawn its EC competition filing. Hydro will continue to own 46.7% in Aluchemie.

08:09 EDT Dave & Buster's increases share repurchase authorization $100M - Dave & Buster's board increased the company's total share repurchase authorization $100M and extended the share repurchase program through the end of fiscal 2020. All other terms of the share repurchase program remain in effect.

08:06 EDT Legg Mason reports preliminary AUM $751.8B as of August 31

08:03 EDT Staples to acquire Essendant for $12.80 per share in cash - Staples and Essendant (ESND) announced that they have entered into a definitive agreement under which an affiliate of Staples, the world's largest office solutions provider, will acquire all of the outstanding shares of Essendant common stock for $12.80 per share in cash, or a transaction value of $996M including net debt. The transaction follows the determination by Essendant's Board of Directors, after consultation with Essendant's legal and financial advisors, that the Staples proposal constituted a "Superior Proposal" as defined in Essendant's previously announced merger agreement to combine with Genuine Parts Company's (GPC) S.P. Richards business. Consistent with that determination, and following the expiration of the three-day waiting period during which GPC did not propose any amendments to the S.P. Richards agreement, Essendant terminated that agreement. In connection with the termination, GPC is entitled to a $12M break-up fee, which Staples is paying as part of its agreement with Essendant. The $12.80 per share purchase price reflects a 51% premium to Essendant's share price on April 11, 2018, the day before the company announced plans to merge with GPC's S.P. Richards business, and a 10.3x multiple of last-twelve-months Adjusted EBITDA. The transaction will be implemented through a cash tender offer at $12.80 per share. The transaction is conditioned upon, among other things, the number of Essendant shares included in the tender offer, together with the 11.15% of Essendant's outstanding common shares currently owned by Staples and its affiliates, representing more than 50% of Essendant's outstanding common shares, expiration of all applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary closing conditions. If the tender offer is consummated, the tender offer will be followed by a merger in which any shares of Essendant common stock not purchased in the offer will be converted into the right to receive the same $12.80 per share in cash. The transaction is not subject to a financing condition and is expected to close in the fourth quarter.

07:59 EDT Wells Fargo to securitize jumbo loans - Says "tens of billions" of headroom against asset cap.

07:57 EDT Essendant trading halted, news pending

07:47 EDT Summit Midstream extends open season on Double E Pipeline - Summit Midstream Partners announced that its subsidiary, Summit Permian Transmission, is extending its binding open season for firm transportation capacity on the Double E Pipeline. The Open Season, which was originally scheduled to end at 4:00 p.m. CDT on Friday, September 14, has been extended to 4:00 p.m. CDT on September 28. Prospective shippers have shown a high level of interest in Double E, and Summit is extending the Open Season to accommodate the needs of certain prospective shippers.

07:06 EDT H.B. Fuller North America announces adhesive category price increase of 4%-10% - H.B. Fuller announced that effective October 15, or as contracts allow, H.B. Fuller North America will implement price increases for all adhesives product categories and related products. Increases will be between 4% and 10%. These increases will affect products in the company's durable assembly, hygiene, packaging, construction and paper converting segments. The past 12 months have seen continued increases in raw material feedstock, logistic and labor costs. In recent months, pressure on hot melt, reactive and water-based raw materials has intensified. In North America, the added impact of tariffs and truck shortages also is affecting costs.

06:49 EDT International Flavors: Antitrust clearance received for acquisition of Frutarom - International Flavors & Fragrances announced that it has received antitrust clearance from all relevant antitrust authorities around the world, and all applicable antitrust and competition laws have been satisfied.

06:39 EDT Wells Fargo sees Q3 NII, NIM in line with Q2 - Sees Q3 C&I and CRE loans down from Q2, reflecting continued competitive pressure on credit structure and pricing. Says credit quality remains "solid." Sees Q3 Consumer loans down modestly from Q2. Says currently expects Q3 auto originations to be higher than Q2, but the portfolio to continue to decline. Sees Q3 NII and NIM in line with Q2. Sees NII "relatively stable" in 2018 as higher interest rates are offset by lower earning assets and higher funding costs. Sees modest growth in Q3 deposit service charges to be driven by customer activity which is expected to be partially offset by higher earnings credit rate for commercial customers. Sees 2018 deposit service charges expected to decline on the FY impact of customer-friendly changes to deposit account fees and higher earnings credit rate for commercial customers. Expects Q3 mortgage originations to be largely in line with Q2. While competitive pressures remain, Q3 production margin expected to be up modestly on increased sales execution gains. Expects 2018 mortgage banking fee income to be down on lower originations in a rising interest rate environment and a lower production margin due to competitive pressures resulting from the over-capacity in the industry. Sees 2018 total expenses $53.5B-$54.5B, 2019 total expenses $52B-$53B and 2020 total expenses $50B-$51B. Through-the-cycle net charge-offs expected to be in the range of 60 - 70 bps. Comments taken from slides being presented at the Barclays Global Financial Services Conference.

06:32 EDT Ares Management sells stake in Gaylord Rockies Resort & Convention Center - Ares Management (ARES) announced that funds managed by its Real Estate Group have agreed to the sale of its investment in the Gaylord Rockies Resort & Convention Center, a 1,500-room hotel and convention center under construction in Aurora, Colorado. As part of the transaction, Ryman Hospitality Properties (RHP) and RIDA Development Corporation, Ares' other partners in the development's joint venture, will pay a combined total of approximately $270M to acquire Ares' investment. The transaction is subject to customary closing conditions, including joint venture lender consent, and is expected to close by the end of 2018.

06:07 EDT Genworth, Oceanwide submit supplemental information to regulators for merger - Genworth and China Oceanwide announced they are submitting supplemental information to the regulators who are reviewing their proposed transaction. As previously announced, Genworth and Oceanwide extended their merger agreement to December 1 to provide additional time for regulatory review of the transaction. The supplemental filings outline a potential alternative funding structure for the transaction that Oceanwide may implement in the event that international political and economic developments cause potential delays in implementing the original funding structure. The supplemental filings also reference the post-closing capital investment plan the parties previously announced and contain additional details about an enhanced data security program the parties are implementing in connection with the receipt of the clearance of the proposed transaction by the Committee on Foreign Investment in the United States, or CFIUS. Under the capital investment plan, Oceanwide and/or its affiliates would contribute an aggregate of $1.5B to Genworth over time following the consummation of the transaction, with the final amounts of the plan to be contributed by March 31, 2020. The contribution will be subject to the closing of the merger and the receipt of required regulatory approvals. The contribution would be used to further improve Genworth's financial stability, which could include retiring Genworth's debt due in 2020 and 2021 or enabling future growth opportunities. The enhanced data security program comprises multiple layers of security measures to protect the personal information of Genworth's policyholders and customers. They include a U.S.-based third-party service provider to manage and protect Genworth's customer data; an independent monitor that will monitor the parties' compliance with the mitigation agreement; and three independent board members who have national security expertise. The parties continue to target closing the transaction in Q4. The closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China and other international jurisdictions and other closing conditions.

05:16 EDT SPI Energy receives Delisting Determination from Nasdaq - SPI Energy announced that it received a Delisting Determination from the Listing Qualifications Department of The Nasdaq Stock Market on September 11, indicating that, as a result of failure of the company to meet the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules, unless the Company requests an appeal of the Determination, trading of the company's Ordinary Shares will be scheduled for delisting from Nasdaq at the opening of business on September 20, and a Form 25-NSE will be filed with the SEC, which will remove the company's securities from listing and registration on Nasdaq. Nasdaq also advised the company that the failure of the company to file its Form 20-F for the year ended December 31, 2017 also serves as additional and separate basis for delisting pursuant to Rule 5250(c)(1) of the Nasdaq Listing Rules. The company plans to timely submit a request for hearing to a Hearings Panel of Nasdaq. A request for a hearing regarding a delinquent filing will keep the suspension of the company's OSs for a period of 15 days from the date of the request. The Panel may or may not grant the company a stay beyond that period based on the company's specific request for a further stay. Hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request. At the hearing, the company plans to present its plan to regain compliance with the Nasdaq listing rules and to request the continued listing of its OSs on Nasdaq pending such compliance. There can be no assurance that the Panel will grant the company's requests.