Stockwinners Market Radar for September 18, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:34 EDT BorgWarner sees operating margins in low-13% by FY23 vs 12.4% in FY17 - As part of its Investor Day presentation earlier today, BorgWarner also forecast FY23 free cash flows reaching about $1B vs. expected $550M-$575M in FY18. The company expects to sustain its dividend growth in line with cash flows and also engage in opportunistic share buybacks. Reference Link

19:02 EDT Fly Intel: After Hours Movers - HIGHER: Stein Mart (SMRT) up 10.7% after extending credit agreement... Internap (INAP) up 9.2% after being initiated at Buy at SunTrust... Trivago (TRVG) up 5.1% after PAR Investment disclosed 34.5% stake... ProQR Therapeutics (PRQR) up 2.2% after being initiated at Outperform at Evercore... Taiwan Semi (TSM) up 1.2% after being upgraded to Overweight at Morgan Stanley... Microsoft (MSFT) up 0.1% after dividend increase. LOWER: EVO Payments (EVOP) down 3.8% after equity offering.

18:39 EDT Kirkland Lake Gold acquires shares of Osisko Mining - Kirkland Lake Gold announced that it has acquired 14,705,882 common shares of Osisko Mining by way of private placement financing at a price of C$1.70 per share for a total cash payment of approximately C$25M. Prior to the Investment, Kirkland Lake Gold held 17,921,750 Shares, representing approximately 8.58% of the outstanding Shares on a non-diluted basis. As of the date hereof, after giving effect to Investment, the company beneficially owns 32,627,632 Shares, representing approximately 13.61% of the currently issued and outstanding Shares on a non-diluted basis. All of the securities issued in the private placement financing are subject to a statutory hold period expiring on January 19, 2019.

18:01 EDT Celanese raises prices for acetate tow in Eastern Europ and Asia by $1/kg - Celanese Corporation announced it will raise prices of all acetate tow product grades sold in Eastern Europe and Asia by $1.00/kg. This price increase will be effective for orders shipped on or after November 1, 2018, or as contracts otherwise allow.

17:02 EDT Ares Management and Starwood Energy sign agreement to sell interest in HTP - Ares EIF, the power and infrastructure strategy at Ares Management, and Starwood Energy Group Global announced that they have signed an agreement to sell their respective interests in Hudson Transmission Partners, or HTP, to an investment vehicle managed by Argo Infrastructure Partners. Financial details were not disclosed. A subsidiary of PowerBridge of Fairfield the developer of the project, will continue to operate and maintain the asset on behalf of Argo Infrastructure and other stakeholders. The transaction is subject to customary regulatory approvals and is expected to close later in 2018 or in early 2019. HTP is a joint venture formed solely to develop, construct, operate and maintain the Hudson Transmission Project, a 660 MW High Voltage Direct Current electric transmission system connecting the PSEG-North zone of the PJM Interconnection to the New York Independent System Operator Zone J power market via a subsea cable beneath the Hudson River.

16:57 EDT Sprague Resources CFO Gary Rinaldi retiring - Sprague Resources announced that Gary Rinaldi will be retiring from his position as senior VP, COO and CFO of its General Partner. Rinaldi will remain with Sprague until December 31 to assist with the transition of his responsibilities. Sprague also announced that David Long will replace Rinaldi as CFO of its General Partner. Long will join Sprague on December 3 and will assume the role of CFO on January 1, 2019. The General Partner does not intend to appoint a successor COO; CEO David Glendon will assume the responsibilities of the COO role.

16:46 EDT Obsidian Energy not in compliance notification with NYSE's listing standards - Obsidian Energy announced that it received notification on September 18 from the New York Stock Exchange that Obsidian Energy is no longer in compliance with one of the NYSE's continued listing standards because the average closing price of Obsidian Energy's common shares was less than US$1.00 per share over a consecutive 30 trading day period. Under the NYSE's rules, Obsidian Energy can avoid delisting if, within six months from the date of the NYSE notification, its common shares have a closing price on the last trading day of any calendar month and a concurrent 30 trading day average closing price of at least US$1.00 per share. Obsidian Energy's common shares will continue to be listed and traded on the NYSE during the applicable cure period, subject to compliance with the NYSE's other continued listing standards, under the symbol "OBE", but the NYSE will assign a ".BC" indicator to the symbol to denote that Obsidian Energy is below the NYSE's price listing standard.

16:44 EDT Stein Mart jumps almost 18% after amending credit agreements - Stein Mart announced that it has extended and amended its existing revolving credit agreement with Wells Fargo Bank and its term loan agreement with Gordon Brothers Finance Company. These agreements are coordinated through an intercreditor agreement and provide for combined borrowing availability of $275M. Key features of the amended agreements include: Key features of the amended agreements include:Extending the terms to September 18, 2023 from the previous maturities of February 3, 2020; Removing cash dominion with it applying in the future only if excess availability is less than 12.5% of the Loan Cap;Increasing the Wells Fargo revolving borrowing limit to $240 million from the previous $225 million with an increase in the inventory advance rate; Decreasing the GBF term loan amount from $50M to $35M and lowering the borrowing rate by 25 basis points; and Administrative improvements that will enhance liquidity. The impact of the new agreements will decrease annual borrowing costs by approximately $1 million and will result in all loan amounts outstanding being classified as long-term obligations. Borrowings under the amended agreements remain available for working capital and general corporate purposes, as well as to support the Company's letter of credit requirements. Shares of Stein Mart are up 17.8% to $2.32 per shares in after-hours trading.

16:35 EDT Rosehill Resources says net daily production exceeded 20K BOE in early September - Rosehill Resources announced the company's net daily production exceeded 20,000 barrels of oil equivalent in early September. This production level was achieved based on strong performance from wells recently placed online on the Weber lease in Loving County, Texas along with contributions from Lea County, New Mexico and the company's Southern Delaware operating area. Rosehill continues to demonstrate and expect strong production growth in 2018 and beyond from the company's prolific acreage in the Delaware Basin. In the Southern Delaware operating area, the company is in the flowback period for its first wells and expects to report initial results in the fourth quarter of 2018 once an appropriate amount of data is obtained and the necessary infrastructure is in place.

16:32 EDT Calyxt appoints James Blome as CEO - Calyxt announced the appointment of James A. Blome, former President and CEO of Bayer CropScience, as CEO of Calyxt, effective October 1. Jim Blome will work closely with Calyxt's Board of Directors to foster the development of the Company's consumer-focused products, including the upcoming commercial launch of Calyxt's first product, high-oleic soybean oil. Jim Blome is a high-impact, global leader with over 25 years of leadership experience in the agriculture industry, building teams and strategies with consumer-focused cultures to better meet consumer needs and maximize market share growth.

16:18 EDT Scientific Games announces instant games contract extension with Washington - Scientific Games announced that Washington's Lottery has extended the company's contracts for instant games, licensed brands and services. The largest instant game provider in the world, Scientific Games will design and produce instant games for the Lottery for an additional four years through March 2024. The company will also provide Washington's Lottery with a new mobile app and player loyalty program.

16:17 EDT JPMorgan declares increased common stock dividend of 80c per share - The board of directors of JPMorgan Chase declared a quarterly dividend of 80c per share on the outstanding shares of the common stock of JPMorgan Chase, an increase from the prior quarterly dividend of 56c per share. The dividend is payable on October 31 to stockholders of record at the close of business on October 5.

16:12 EDT Darling Green Diesel facility to take downtime - Darling Ingredients (DAR) reported that the Diamond Green Diesel, or DGD, facility in Norco, LA, which is a joint venture with a subsidiary of Valero Energy Corporation (VLO), will be taking downtime from September 21 until approximately October 1 to replace a catalyst that was damaged during start-up of the facility, which was expanded from 160M gallons to 275M gallons per year of renewable diesel capacity. The issue that caused the damage to the catalyst was identified and remedied.

16:05 EDT Delta Apparel increased share repurchase authorization by $10M - Delta Apparel announced that its board has approved a new authorization under the company's stock repurchase program for the repurchase of up to an additional $10M of the company's outstanding common stock, bringing the total amount authorized under the program to $60M.

15:52 EDT FJ Capital reports 5.28% passive stake in Sound Financial Bancorp

14:41 EDT Nintendo offering Fortnite bundle for Switch - Nintendo of America tweeted earlier: "It's a bundle royale! A #NintendoSwitch #Fortnite bundle including special in-game items and 1,000 V-Bucks will make the jump into stores on 10/05." Reference Link

14:35 EDT SunPower spikes higher after receiving solar tariff exclusion - Shares of solar solutions provider SunPower (SPWR) are surging after CEO Tom Werner said the U.S. Trade Representative has filed with the Federal Register office for publication that certain interdigitated back contact solar cells and modules within specific size and power ranges, will be excluded from the solar tariffs imposed in January pursuant to Section 201 of the Trade Act. As a result, SunPower's IBC cells and modules are excluded from Section 201 import tariffs. "With today's decision that SunPower's highly differentiated IBC cells and modules are excluded from tariffs, we are able to turn the page... We are continuing with our planned acquisition of the SolarWorld Americas manufacturing facility in Hillsboro, Oregon and expect the transaction to close before the end of the quarter." PRICE ACTION: Shares of SunPower are higher by almost 14% to $7.48 per share in afternoon trading.

14:04 EDT Vuzix partnering with OnCore Golf for 'enhanced ' AR experiences for golfers - Vuzix is pleased to announce that the company is partnering with OnCore Golf to deliver new AR enhanced experiences for golfers on the Vuzix Blade Smart Glasses. "We are excited to enter into this partnership with OnCore Golf and believe it can create an entirely new form of entertainment and training experiences for golfers of all skill levels," said Paul Travers, President and Chief Executive Officer at Vuzix. "Bringing Vuzix Blade Smart Glasses to the golf courses, golf entertainment centers and driving ranges gives us an opportunity to connect with more than 25 million active golf participants that play on more than 15,000 golf courses across the USA. Coupled with an appropriate golf ball launch system, wearers can see their flight statistics in real time. Connecting the digital world to the real world through the Vuzix Blade Smart Glasses allows wearers to keep their phone in their pocket and eye on the ball while offering an opportunity to improve their golf handicap or just simply have a lot fun while trying."

13:45 EDT Clovis, executives charged by SEC with misleading investors about cancer drug - The Securities and Exchange Commission announced that Clovis Oncology, its CEO, and its former CFO will pay more than $20M in penalties to settle charges of misleading investors about the company's developmental lung cancer drug. The SEC's complaint filed in federal court in Denver alleges that over a four-month period starting in July 2015, Clovis Oncology and CEO Patrick Mahaffy misled investors about how well Clovis' flagship lung cancer drug worked compared to another drug. According to the complaint, the company's investor presentations, press releases, and SEC filings stated that the drug was effective 60% of the time, far higher than suggested by actual results available internally. Clovis raised approximately $298M in a public stock offering in July 2015, and saw its stock price collapse in November 2015 after disclosing that the effectiveness rate was actually 28%. The company stopped development on the drug in May 2016. The complaint alleges that certain data provided to Mahaffy and Erle Mast, the company's CFO at that time, showed that Roci's efficacy rate was substantially lower than alleged in an investor presentation. In November 2015, after Clovis disclosed the true efficacy using the methodology required by the U.S. Food and Drug Administration, its stock price dropped approximately 70%. The complaint charges Mahaffy with violating Section 17(a)(2) and aiding and abetting Clovis' violations of Section 13(a). The complaint charges Mast with aiding and abetting Clovis' federal securities laws violations. The defendants agreed to the settlements without admitting or denying the allegations and the settlements are subject to court approval. Clovis agreed to a $20M penalty. Mahaffy agreed to a $250,000 penalty. Mast agreed to pay a $100,000 penalty and to provide disgorgement and prejudgment interest of $454,145, attributable to selling Clovis stock during the relevant period at inflated prices.

13:32 EDT Rave Restaurant Group names Bob Bafundo president - RAVE Restaurant Group announced internal promotions including Bob Bafundo to president of RAVE and Andrea Allen to chief accounting and administrative officer. Bafundo joined RAVE in 2016 as president of Pizza Inn. In his new role, he will oversee day-to-day operations for all RAVE brands. Allen joined RAVE last year as VP of accounting/controller. In her new role, she will oversee all accounting, finance and administrative needs for the company.

13:02 EDT Live Oak Bank says headquarters will remain closed 'until further notice' - The company said, " As a member of the Wilmington community, Live Oak Bank understands the impact from Hurricane Florence is far from over. We are fortunate to report today that there has been no interruption to service of our customers. Our headquarters have sustained only minimal damage, and our employees are safely deployed throughout the Southeast. Out of an abundance of caution in the wake of the storm, Live Oak's headquarters will remain closed until further notice. Because Live Oak's operations are cloud-based, our teams are able to work remotely from various locations along the East Coast to continue lending and deposit services."

13:00 EDT Nevada Gold trading resumes

12:44 EDT Apollo's Diamond Resorts names former Hilton Grand Vacations exec as CFO - Apollo Global's (APO) Diamond Resorts announced that Jim Mikolaichik has joined the company as CFO. The Fly notes that on August 10, Mikolaichik was terminated as the CFO of Hilton Grand Vacations (HGV) "for conduct and behavior not consistent with the company's policies."

12:40 EDT Nevada Gold trading halted, news pending

12:31 EDT Game On: Piper says 'Fortnite' Twitch viewership fell 13% in August - Welcome to "Game On," The Fly's weekly recap of the stories powering up or beating down video game stocks. NEW RELEASES: Among this week's new software releases is Nintendo's (NTDOY) "Xenoblade Chronicles 2: Torna -- The Golden Country," an expansion to last year's role-playing game "Xenoblade Chronicles 2," exclusively on the Nintendo Switch. The game was released on September 14 as an expansion pack and will be released at retail on September 21. In addition, Capcom's (CCOEY) "Capcom Beat 'Em Up Bundle" launches for Switch, Xbox One (MSFT), and PlayStation 4 (SNE) today. The game is a collection of classic Capcom-made games from the 1990s. 'FORTNITE' VIEWERSHIP DECLINE: In a research note investors, Piper Jaffray analyst Michael Olson said that his firm's monthly "TwitchAdviser," an analysis of viewership data on video game streaming platform Twitch (AMZN), indicates a decline in viewership for Epic Games' "Fortnite" for the month of August. "Fortnite" viewership declined 13% percent in August, the steepest month-on-month decline Piper has seen, while cumulative viewership of Activision Blizzard (ATVI) titles increased 48% month-on-month, driven by "World of Warcraft" and "Destiny 2." Olson said that he believes tracking Twitch viewership can provide insight into the real-time "pulse" of certain video games, identifying those that have momentum and those that are losing traction with gamers. Epic Games, the creator of "Fortnite," is 40% owned by Tencent (TCEHY) and is part of Disney's (DIS) Accelerator Program. 'BLACK OPS 4' BETA: Analysts have reacted positively to the latest beta for Activision's upcoming shooter "Call of Duty: Black Ops 4." Goldman Sachs analyst Christopher Merwin last week maintained his Buy rating and $84 price target on the stock, saying the the game's beta version for PS4 with its new "battle royale" mode, known as "Blackout," has been "impressive." Merwin also noted that the 95% positive fan reaction to the "Blackout" trailer on YouTube also bodes positively for engagement. In addition, Morgan Stanley analyst Brian Nowak said in a note this week that since Activision began beta testing the "Blackout" mode, reviews have been notably positive. Nowak added that the strong initial reception increases the chances that "Blackout" may be able to directly compete with "PUBG" and "Fortnite" in the popular battle royal genre. The analyst, who backed an Overweight rating and $80 price target on Activision Blizzard, thinks his $100 bull case for Activision shares is "in play" as continued enthusiasm for "Blackout" could drive higher "COD" unit sales and lead to higher in-game monetization in 2019. NINTENDO DIRECT: Last Thursday, Nintendo unveiled in its Nintendo Direct video presentation that new entries in the "Animal Crossing" and "Luigi's Mansion" series will be coming to exclusively to the Switch in 2019. The company also noted in the presentation that a number of popular third party titles will be coming to the Switch soon as well, including a large collection of classic "Final Fantasy" games, an HD remake of "Katamari Damacy," and 2K's (TTWO) "Sid Meier's Civilization VI." LOOT BOX CRACKDOWN: Business Insider reported yesterday that regulators from more than a dozen European countries are seeking to crack down on "loot boxes," a controversial video game practice that could be too much like gambling. Companies that may be impacted include EA (EA), Take-Two, and Activision Blizzard.

12:09 EDT comScore Canada GM Brent Bernie leaving, Bryan Segal assuming role - comScore announced leadership changes to its Canada team. Brent Bernie, general manager of comScore Canada, will be moving on from the company effective January 1. his values." Assuming the general manager role is Bryan Segal, currently vice president of sales at comScore. Bryan has a long history at the company, starting as a research analyst and account manager in 2000 and growing into the role of vice president of sales in 2004. While Segal briefly left the company in 2014, he returned as vice president of sales in 2017. Segal and Bernie worked closely together for many years to help establish comScore as the standard in digital measurement in Canada.

12:03 EDT Agilent files new complaint against Twist Bioscience regarding stolen documents - Agilent Technologies filed a new complaint against Twist Bioscience and Emily Leproust. The proposed Second Amended Complaint adds two additional defendants and adds new facts that were recently discovered regarding the defendants' wide-ranging theft of Agilent's proprietary oligonucleotide synthesis technology. First, "Leproust and several other former Agilent employees who joined her at Twist . . . stole Agilent's most sensitive documents. Using thumb drives, cloud accounts, and personal emails, Leproust, Chen, Glaize and other former Agilent employees stole hundreds of Agilent documents clearly marked 'Confidential.'" Second, Twist's founder Emily Leproust secretly accepted a position as CEO at Agilent competitor, Twist, yet remained an Agilent employee exposed to Agilent trade secrets and confidential information for 17 months.

11:50 EDT Tesla said to face criminal probe alongside civil inquiry - Tesla, which is already reported to be facing a civil inquiry by the SEC, is also under investigation by the Department of Justice over public statements made by the company and CEO Elon Musk, according to Bloomberg, citing two people familiar with the matter. Federal prosecutors opened a criminal fraud investigation after Musk tweeted last month that he was considering taking the electric car maker private and had "funding secured" for the deal, Bloomberg was told by its sources. In late morning trading, Tesla shares are down 2.6% at $287.06.

11:37 EDT Sotherly Hotels says 'no significant property damage' from Hurricane Florence - Sotherly Hotels announced that is has experienced no significant property damage or injuries at its hotels located in the path of Hurricane Florence. Hotel Ballast in Wilmington, North Carolina remained open during Hurricane Florence and remains open, serving the needs of guests and the Wilmington community. The hotel incurred wind and water related damage from the hurricane, but the Company believes this damage is not material, barring the Company's completion of a full property inspection and assessment of the Hotel. The Company will utilize its property, flood, and business interruption insurance policies as needed.

11:20 EDT Arrow Electronics, Intel partner to develop edge-computing standard - Arrow Electronics (ARW) has teamed with Intel (INTC) for the Colorado Open Lab to be a global testbed and showcase of a new IEEE global edge-computing standard called Ambient Science. Ambient Science is an evolutionary global standard serving many applications in Smart Cities, Smart Buildings and Industrial IoT. The Smart Cities market is estimated at $2T by 2025 with the Edge Compute market estimated to be worth $6.72B by 2022. Arrow's Colorado Open Lab is a powerful and open Smart City innovation eco-system, serving Colorado cities and regions with Smart City technology solutions and digital transformation. Intel and the IEEE will use the Colorado Open Lab as a test bed and platform for Ambient Science research and development, and to showcase solutions for Smart Cities.

11:16 EDT Pennsylvania American Water agrees to acquire Pike County wastewater system - Pennsylvania American Water, a subsidiary of American Water, announced that it has signed an agreement to acquire the wastewater assets of the Delaware Sewer Company in Delaware Township, Pike County. The wastewater system serves approximately 40 customers, and the transaction is valued at $61,700. The proposed acquisition is the result of the Pennsylvania Public Utility Commission initiating an investigation to determine whether a capable utility should acquire the Delaware Sewer Company. In January 2016, the PUC launched the investigation. The ensuing due diligence process revealed that the system suffered from a lack of investment and proper maintenance, including failing sand mounds. As part of the regulatory review, the PUC must approve Pennsylvania American Water's application to purchase the system. In addition, the PUC will require the company to submit a plan for wastewater system upgrades. Delaware Sewer Company is a wholly-owned subsidiary of Consolidated Pocono Utilities, Inc., which was also the parent company of the former Clean Treatment Sewage Company. In 2013, Pennsylvania American Water acquired the troubled Clean Treatment wastewater operations, which were subject to a moratorium preventing additional connections due to inflow and infiltration issues and overflows in the collection system. The system serves approximately 1,000 residents, also in Delaware Township, Pike County. The company expects to close the Delaware Sewer transaction by the third quarter of 2019, pending regulatory approvals. Under the purchase agreement, there will be no immediate change to the customers' wastewater rates. Infrastructure improvements will begin after the close of the transaction. Pennsylvania American Water's rates are regulated by the PUC and future rate changes would have to be reviewed and approved by the PUC.

11:04 EDT Cannabis stocks in focus after Tilray gets DEA approval to import cannabis drug - Shares of cannabis stocks are in focus after Canadian marijuana producer Tilray (TLRY) announced approval by the U.S. Drug Enforcement Administration to import a cannabinoid study drug into the U.S. from Canada. DEA APPROVAL: On Tuesday, Tilray announced that the U.S. DEA has granted approval to import a cannabinoid study drug into the U.S. for a clinical trial at the University of California San Diego Center for Medicinal Cannabis Research examining its safety, tolerability and efficacy for Essential Tremor. Tilray is providing a cannabinoid formulation for the trial in capsule form, which will allow researchers to test an investigational drug product containing two active ingredients extracted from the cannabis plant, cannabidiol and tetrahydrocannabinol. The study is expected to begin in early 2019 with financial support from Tilray and the International Essential Tremor Foundation. Essential Tremor is a neurological movement disorder characterized by involuntary and rhythmic shaking. 'PROMOTIONAL AND MISLEADING': Following the announcement, short-seller Citron Research tweeted, "$tlry has now crossed to promotional and misleading They announce that they are supplying cannabis to an already arranged study that does not involve them. No collaboration Low float a promo is a dirty combo for." The tweet comes after Citron announced a short position in Tilray on September 4 via Twitter, saying, "Citron LOVED $TLRY at $26 but now we are SHORTING stock. Cowen lowered est and still raised tgt $62 only shows "RETAIL INVESTORS GONE MAD" and forgot $TLRY went public at $17 - 6 weeks ago. We would expect an equity raise at these levels. By far most expensive in space." Citron also issued a report on September 12, which said, "Since August 15, US marijuana stocks Tilray and Cronos (CRON) have significantly outpaced the performance of their Canadian traded peers. Due to federal regulation, US listed stocks cannot have any operations in the US without losing their listings, whereas Canadian listed stocks can have US operations. The US will be the largest cannabis market in the world. Today, the California market is over 5x larger than all of Canada. Despite obvious logic, we've seen US retail investors pile into the US listed marijuana stocks...Lastly, over the past week Citron has received hundreds of emails from investors ranging from anti-Semitic to threats on family, but NOT one of them could justify the price increases with any analysis whatsoever. We have been publishing for 17 years and this is generally a sign of a retail bubble." WHAT'S NOTABLE: On Monday, Bloomberg reported that Coca-Cola (KO) is monitoring the nascent cannabis drinks industry and is in talks with Canadian marijuana producer Aurora Cannabis (ACBFF) to develop the drinks. Aurora Cannabis announced Tuesday it responded to a request from the Investment Industry Regulatory Organization of Canada regarding reports on potential partnerships with beverage companies. "The company's policy is not to comment on speculative media reports. The company does confirm that it engages in exploratory discussions with industry participants from time to time. At this time the company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company," the company said. CANNABIS STOCKS: Publicly-traded companies in the space include Cronos Group, Canopy Growth (CGC), Tilray, Cannabis Science (CBIS), Innovative Industrial Properties (IIPR) and Aurora Cannabis. PRICE ACTION: Tilray surged roughly 20% to $144.55 in morning trading.

10:26 EDT Nutanix rises after analysts call selloff 'excessive', 'overblown' - Shares of cloud computing software company Nutanix (NTNX) are rising after analysts called the recent selloff of shares on Google (GOOG, GOOGL) competition concerns "excessive" and "overblown." GOOGLE COMPETITION: On Monday, The Information reported that Google Cloud is building custom-designed hyperconverged infrastructure solutions for "a handful" of large customers to run in private data centers. The devices are the latest indication of Google's increasing focus on cloud products that run under the direct control of corporate customers, the report said. The Information noted that it is not certain whether Google will take the extra step and sell such devices to a broader range of customers, though doing so would signal a shift in the company's cloud strategy for attracting Fortune 500 customers. SELLOFF 'EXCESSIVE': Following the report, Piper Jaffray analyst Andrew Nowinski noted that Nutanix shares dropped 11.5% Tuesday. The analyst said while the potential Google offering could be viewed as competitive to Nutanix, most enterprises will choose to leverage a multi-cloud infrastructure and would not want to be locked into single cloud provider. Nowinski added that he believes the integration between Google and Nutanix is still being developed and is on track and noted that the article states that Google is not commercially developing the product for all customers. He said he viewed the selling pressure as "excessive" and reiterated an Overweight rating on Nutanix with a $66 price target. FEARS 'OVERBLOWN': William Blair analyst Jason Ader also noted the fall in shares of Nutanix following The Information report in a Tuesday research note titled "Fears of Google Entering HCI Space Look Overblown to Us." Ader said the product is likely Google's response to what Microsoft (MSFT) has built with Azure Stack, which is Microsoft's HCI product that connects directly into its Azure public cloud service. He said he believes that if Google turns the product into an actual packaged HCI product sold to a broad range of customers, it could create longer-term risk for Nutanix. However, the analyst thinks investors should consider that this appears to be another validation of the staying power of the on-premises market, which he said bodes well for Nutanix. Further, he pointed out that if Google were to decide to enter the HCI market more broadly, it would have a long way to go to establish itself in the enterprise against entrenched players like Nutanix and VMware (VMW). Google has not had great success selling into the enterprise historically and has little experience selling enterprise infrastructure appliances, Ader wrote. The analyst said he expects Nutanix to "remain best-of-breed" and reiterated an Outperform rating on Nutanix. PRICE ACTION: Nutanix is up nearly 8% to $50.08 in morning trading.

10:16 EDT Aurora Cannabis says no agreement for partnership with 'beverage company' - Aurora Cannabis (ACBFF) is responding to a request from the Investment Industry Regulatory Organization of Canada, or "IIROC," regarding media reports with respect to potential partnerships with multiple beverage companies. "The company's policy is not to comment on speculative media reports. The company does confirm that it engages in exploratory discussions with industry participants from time to time. At this time the company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company. In accordance with applicable disclosure requirements, Aurora will advise the market of material changes when they occur," the company stated. The Fly notes that Bloomberg previously reported that Coca-Cola (KO) is monitoring the nascent cannabis drinks industry as soda consumption slows and is in talks with Aurora to develop the drinks.

09:58 EDT Aurora Cannabis trading in Canada halted, pending news - The Investment Industry Regulatory Organization of Canada, or IIROC, the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada, reported earlier that shares of Aurora Cannabis trading on the TSX had been halted for pending news as of 9:03 am ET.

09:47 EDT AutoZone falls -4.2% - AutoZone is down -4.2%, or -$31.22 to $716.30.

09:47 EDT Workiva falls -8.9% - Workiva is down -8.9%, or -$3.35 to $34.50.

09:47 EDT California Resources rises 5.5% - California Resources is up 5.5%, or $2.01 to $38.81.

09:36 EDT Ligand rises after Viking's study of VK2809 hits primary goal - Shares of Ligand Pharmaceuticals (LGND) are higher in early trading after Viking Therapeutics (VKTX) announced top-line results from a Phase 2 study of VK2809, its novel liver-selective thyroid receptor beta agonist, in patients with non-alcoholic fatty liver disease, or NAFLD, and elevated low-density lipoprotein cholesterol, or LDL-C. The study successfully achieved its primary endpoint, with patients receiving VK2809 demonstrating statistically significant reductions in LDL-C compared with placebo, Viking said. In May of 2014, the companies announced that Ligand licensed the rights to five programs to Viking. The drug candidates and programs covered by the license agreement included VK0612, VK5211, VK0214, a portfolio of orally available small molecule EPOR agonists for the potential treatment of anemia and a portfolio of orally available small molecule inhibitors of the enzyme DGAT-1 for the potential treatment of lipid disorders such as obesity and dyslipidemia. Also as part of that transaction, Ligand agreed to extend a $2.5M convertible loan facility to Viking that can be used to pay Viking's operating and financing-related expenses. In early trading, shares of Viking Therapeutics have more than doubled to $21.57. Meanwhile, Ligand is up 6% to $268.62 per share.

09:31 EDT TransUnion awarded GSA bulk purchase agreement contract vehicle - TransUnion announced that following an extensive evaluation by the General Services Administration, or GSA, it has been awarded a GSA login.gov bulk purchase agreement contract vehicle. The contract will be extended to multiple federal government agencies for TransUnion's remote identification and fraud prevention managed services and data analytics solutions. Compliant with the standard NIST Digital Identity guidelines, TransUnion's IDVision managed service helps prevent ID theft and fraud. Following the GSA evaluation, TransUnion IDVision products are approved for the GSA contract.

09:20 EDT Terreno Realty acquires San Leandro, California property for $22.8M - Terreno Realty Corporation acquired an industrial property located in San Leandro, California on September 17, 2018 for a purchase price of approximately $22.8M. The property consists of three industrial distribution buildings containing approximately 128,000 square feet on 7.3 acres. The property is at 701 Whitney Street, west of Interstate 880 and less than two miles from Oakland International Airport, provides 14 dock-high and 19 grade-level loading positions, parking for 156 cars and is 95.4% leased to 13 tenants, seven of whom expire within 12 months. The estimated stabilized cap rate of the property is 4.8%.

09:15 EDT Fly Intel: Pre-market Movers - HIGHER: Avon Products (AVP), up 6% after a report that Brazil's Natura Cosmeticos recently approached the company about a takeover... Viking Therapeutics (VKTX), up 121% after a Phase 2 study of VK2809 met its primary endpoint... Nutanix (NTNX), up 6% after William Blair analyst Jason Ader tells investors fears of Google (GOOGL) competition look overblown... Akcea Theraputics (AKCA), up 3% after a report that a group for patients suffering from the genetic condition familial chylomicronemia syndrome, or FCS, is circulating a petition asking the FDA to reconsider its decision to reject Akcea 's volanesorsen. DOWN AFTER EARNINGS: Oracle (ORCL), down 3.6%... FedEx (FDX), down 2%... AutoZone (AZO), down 5%... General Mills (GIS), down 1.5%. LOWER: Athenahealth (ATHN), down 9.5% after a report that Elliott Management has backed away from its $160 per share bid for the company... Madrigal Pharmaceuticals (MDGL), down 15% after the company's competitor Viking announced top-line results from a Phase 2 study of its novel liver-selective thyroid receptor beta agonist in patients with non-alcoholic fatty liver disease.

09:11 EDT ContraVir Pharmaceuticals CRV431 study meets primary endpoints - ContraVir Pharmaceuticals announced that the primary endpoints of safety and tolerability were met in a single ascending dose, or SAD, study of CRV431 conducted in the United States. Subjects in the study were treated with escalating doses of CRV431 administered as a single dose. In addition to a favorable safety and tolerability profile, pharmacokinetic profiling demonstrated CRV431 exposure levels that are anticipated to be efficacious in future HBV patient studies.

09:09 EDT GE Transportation to supply five diesel-electric locomotives to Korfez Ulastirma - GE Transportation will supply five diesel-electric locomotives to Korfez Ulastirma, the subsidiary of Turkey's largest refinery, Tupra, operating in railway transportation. Korfez Ulastirma is the first private operator in Turkey to make such a purchase since the government began issuing licenses to use mainlines one year ago. Announced today at InnoTrans 2018, the agreement includes GE Transportation's PowerHaul series locomotives, which are European Standards compliant and provide world-class fuel economy. Korfez Ulastirma currently leases five PowerHaul locomotives that GE previously supplied to the Turkish State Railways and will now double its fleet through this purchase. These locomotives, like the five that Korfez Ulastirma already leases, will be built in Eskisehir, Turkey by TULOMSAS, GE's strategic partner in country. TULOMSAS produces GE's PowerHaul locomotives for the European, Middle Eastern and North African market. Under the agreement, GE will provide leading technology and design while TULOMSAS provides local manufacturing, assembly and final testing.

09:08 EDT Tetra Tech awarded $21M contract by USAID - Tetra Tech announced that the U.S. Agency for International Development, or USAID, awarded the company a $21 million single-award, five-year contract to improve biodiversity conservation and strengthen sustainable and resilient development in the Prey Lang region of Cambodia. Situated across five million acres and four provinces in north-central Cambodia, the Prey Lang region is one of Southeast Asia's last remaining lowland evergreen woodlands and home to important water resources and biodiversity, including one of only seven remaining elephant corridors in the world. The landscape is under severe threats from deforestation, wildlife trafficking, and the impacts of climate change. Under the USAID Greening Prey Lang program, Tetra Tech will provide technical support services using an integrated approach for sustainable watershed management and biodiversity conservation to foster economic growth. Tetra Tech will develop an evidence-based decision support system that will combine geographic information systems with trend analyses and local knowledge to assist in local and national planning efforts to mitigate the threats from climate stresses and reduce greenhouse gas emissions. Tetra Tech also will support the development of sustainable economic opportunities, especially for women entrepreneurs and other marginalized groups.

09:04 EDT SS&C announces Gateway Health extended relationship with DST Health Solutions - SS&C Technologies Holdings announced that Gateway Health has extended its longstanding relationship with DST Health Solutions in a multiyear agreement, effective January 1, 2019. DST Health Solutions will continue to provide BPO claims processing services for Gateway's Medicaid and Medicare Advantage lines of business in Pennsylvania and will support the implementation of a new plan in Arkansas. Gateway will also continue to use CareConnect and CareAnalyzer platforms to ensure resources are allocated to members who are in greatest need of care management.

09:00 EDT Cancer Genetics trading resumes

08:51 EDT Independence Realty Trust reports minimal hurricane damage to communities - Independence Realty Trust announced the company's owned and managed apartment communities in the Carolinas and Georgia are operational and did not suffer any significant damage as a result of Hurricane Florence. At this time, the company does not expect any material impact on financial performance.

08:46 EDT ARCA Biopharma submits SPA for Gencaro to FDA - ARCA Biopharma announced that it has submitted a special protocol assessment, or SPA, request to the FDA. The request is part of the company's ongoing interaction with the FDA focused on the planned Phase 3 clinical development program of Gencaro as a genetically-targeted treatment for heart failure patients at risk for atrial fibrillation. The SPA submission is the next step in beginning a Phase 3 program for Gencaro after an end-of-Phase 2 Meeting with FDA in June.The protocol included with the SPA request incorporates guidance ARCA received from the FDA regarding a Phase 3 program that could provide sufficient evidence of the efficacy and safety of Gencaro in the treatment of atrial fibrillation.

08:44 EDT Del Frisco's sells Sullivan's Steakhouse to Romano's Macaroni Grill for $32M - Del Frisco's announced that it has signed a definitive agreement to sell Sullivan's Steakhouse to Romano's Macaroni Grill for gross proceeds of approximately $32M. The net proceeds, which have not yet been finalized, will be used to reduce the company's outstanding indebtedness. The transaction is expected to close on or before September 30. The divestiture of Sullivan's Steakhouse represents the culmination of a strategic alternatives process for the brand that was first announced in March. Sullivan's Steakhouse currently comprises 14 locations across 12 states.

08:43 EDT Seadrill Partners announces contract award for West Aquarius - Seadrill Partners (SDLP) has secured a one well contract with multiple options with ExxonMobil Canada (XOM), for the West Aquarius in Canada. Backlog for the firm portion of the contract is expected to be approximately $24M and commencement is expected between May and July 2019.

08:38 EDT Grupo Boticario partners with SAP, SAP Ariba for connected supply chain - Grupo Boticario is teaming with SAP and SAP Ariba to build a connected and intelligent supply chain. Leveraging solutions from SAP Ariba, Grupo Boticario has created a simple, digital process through which it can efficiently manage and collaborate across the entire source-to-settle in a simple, smart and integrated way.

08:34 EDT Pareteum appoints Manjot Mann as CEO of Pareteum Asia - Pareteum announced the establishment of its Singapore office, Pareteum Asia. The number of Asia based customers has grown during the past two years, and the opportunities available to Pareteum throughout Asia, including Australia and New Zealand, have led to our need for direct in-market presence to meet our growing demands. Manjot Mann has been named CEO of Pareteum Asia. Pareteum's Chief Revenue Officer, Rob Mumby, will join Mann at the TechXLR8 Asia event in Singapore at the Marina Bay Sands Expo and Convention Centre on the 19th and 20th of September. Prior to joining Pareteum, Mann served for four years at Lebara, London, United Kingdom, where he was CEO, Communications and Convergence, the most successful Mobile Virtual Network Operator in the world. Mann was key in the successful acquisition of Lebara by a Swiss-based private equity group.

08:33 EDT Youngevity's CLR expands in cruise line industry - Youngevity International announced that it has expanded its footprint in the cruise line industry by adding another prestigious brand to its hospitality business. CLR is now roasting and serving its coffee to the entire crew and staff of another top cruise line in the hospitality industry. The 2-year contract includes coffee for the crew of 60 ships that represent an employee base of over 60 thousand people from over 100 countries. In addition to the crew coffee the contract includes supply to the passengers of 3 luxury cruise ships new to CLR Roasters.

08:26 EDT AutoZone down 6.4% to $699.57 after Q4 results

08:23 EDT Viking Therapeutics up 136% after Phase 2 study of VK2809 meets endpoint - In pre-market trading, shares are up 136% to $24.52.

08:17 EDT CenturyLink appoints Chris Betz as Chief Security Officer - Chris Betz joins CenturyLink (CTL) as its Chief Security Officer, responsible for leading the company's corporate security, information security and security product development teams. Previously, Betz led security for Apple (AAPL) products and has held leadership roles in information security, security operations and response and security intelligence at Microsoft (MSFT), CBS (CBS) and the National Security Agency.

08:14 EDT BJ's Wholesale to offer largest toy selection ever during holidays - BJ's Wholesale Club announced it will offer twice as many toys on BJs.com and increase the in-Club toy selection by as much as 20% this holiday season. Plus, members will receive free shipping on select toy purchases of $50 or more on BJs.com now through Feb. 2, 2019.

08:12 EDT Kellogg to donate food to support Florence emergency relief efforts - Kellogg is donating five semi-trailers of cereal, bars and crackers to help people in the Carolinas and Appalachia region impacted by Tropical Depression Florence. The storm made landfall as a hurricane and slowed to a tropical depression leaving widespread and potentially catastrophic flooding. Many residents are displaced from their homes, while others are cleaning up. To help feed people in need, Kellogg is providing more than 2.1M servings of cereal, bars and crackers to Feeding America to support area food banks.

08:10 EDT Netflix appoints appoints Mathias Dopfner to Board of Directors - Netflix announced the appointment to its board of Directors of Mathias Dopfner, Chairman and CEO of Axel Springer SE. At Axel Springer, based in Berlin, Dopfner leads Europe's leading digital publishing house. Mathias has been with Axel Springer SE since 1998, initially as editor-in-chief of Die Welt and since 2000 as a member of the Management Board. Since he became CEO of Axel Springer in 2002 he focused on digital transformation, with revenues from digital activities increasing from EUR117M to EUR2.5B, and digital now accounting for 80 percent of the company's EBITDA. He is a member of the Board of Directors of Warner Music Group and a former Director of Time Warner Inc. He studied Musicology, German, and Theatrical Arts in Frankfurt and Boston.

08:10 EDT Cracker Barrel down 6.8% to $140.50 after Q4 results, FY19 guidance

08:08 EDT Corbus Pharmaceuticals receives orphan drug designation in EU for Lenabasum - Corbus Pharmaceuticals announced that the European Commission has granted Orphan Designation in the European Union to lenabasum, its novel, synthetic oral endocannabinoid-mimetic drug, for the treatment of dermatomyositis. The company recently announced that lenabasum was also granted Orphan Drug Designation for the treatment of DM by the U.S. FDA. In preclinical and clinical studies conducted so far, lenabasum has been shown to induce resolution rather than immunosuppression by triggering biological pathways to turn "off" chronic inflammation and fibrotic processes. Lenabasum has demonstrated promising potency in preclinical models of inflammation and fibrosis. Preclinical data and clinical studies to date have shown lenabasum to have a favorable safety, tolerability and pharmacokinetic profile. Data to date suggest that the drug may have clinical benefit as well as a beneficial impact on inflammatory and immunological markers in Phase 2 studies in diffuse cutaneous systemic sclerosis, dermatomyositis and cystic fibrosis. Additional clinical studies are being conducted and/or planned to confirm these preliminary results and support applications for regulatory approval.

08:07 EDT Kratos Defense receives $3M contract to build satellite earth stations - Kratos Defense announced that it has received $3M in contract awards for design and build of two Ku-Band earth stations for a certain customer. Kratos will deliver two Ku-band earth station solutions that include Kratos' high-performance 5 meter and 6.2 meter Ku-band limited motion antenna systems and a compass monitoring and control system. Kratos' antenna solutions meet strict customer requirements and are optimized to reduce complexity and risk. This protects and maximizes operator infrastructure investment by delivering faster time-to-market, faster time-to-revenue and reduced costs. Compass provides complete monitor and control of devices for satellite and hybrid networks to ensure the health and uptime of mission critical equipment.

08:06 EDT Cracker Barrel CEO: 'softer sales trend we saw in May persisted' - Commenting on the fourth quarter and full fiscal year results, Cracker Barrel President and CEO Sandra Cochran said, "The softer sales trend we saw in May persisted throughout the quarter, leading to fourth quarter results that fell below expectations. Our traffic was challenged, particularly with lighter users and during the dinner daypart, some of which was attributable to our menu and marketing promotion not delivering the anticipated topline traffic and sales. While our results did not meet our expectations, I am confident that our initiatives and plans for fiscal 2019 will drive improved performance."

08:05 EDT Melinta Therapeutics appoints Peter Milligan as CFO - Melinta Therapeutics announced that the company has appointed Peter Milligan as its new CFO, effective immediately. He will succeed current CFO Paul Estrem, who is retiring from Melinta on October 1. Milligan is an executive and established corporate leader who brings nearly 30 years of financial leadership experience, with experience in managing all aspects of corporate and operational financial matters, including numerous capital market transactions. Milligan most recently served as the CFO of G&W Laboratories, a privately held generic pharmaceutical company where he had oversight and leadership of all financial aspects of the company.

08:04 EDT AmpliPhi announces 'positive' FDA feedback for AB-PA01 - AmpliPhi Biosciences Corporation announced that the company has received positive feedback, via written response, from the U.S. Food and Drug Administration regarding its development plans for AB-PA01, without the need for a Type B Pre-IND meeting. AmpliPhi's engagement with the FDA included an update on the company's ongoing Expanded Access Program, as well as the proposed design for two randomized, controlled clinical trials with AB-PA01, the company's clinical candidate targeting P. aeruginosa. The FDA was in general agreement with the proposed clinical trial designs and, based on the current FDA feedback, no additional clinical or nonclinical data are required to proceed with the following two proposed randomized clinical trials: A Phase 1/2 randomized, controlled clinical trial to evaluate the safety and efficacy of AB-PA01, administered intravenously with the best available antibiotic therapy, compared to placebo plus best available antibiotic therapy, in approximately 100 patients with hospital-acquired and ventilator-associated pneumonia due to Pseudomonas aeruginosa. A Phase 1/2 randomized, controlled clinical trial to evaluate the safety and efficacy of AB-PA01, administered intravenously with the best available antibiotic therapy, compared to placebo plus best available antibiotic therapy, in approximately 100 patients with P. aeruginosa bacteremia

08:03 EDT iPass announces signing of two data deals - iPass Inc. announced it has signed two new data deals, one for the iPass Location Intelligence product and one for iPass Network Intelligence. "Data is a huge area of focus for us, and these new agreements are a fantastic validation of the quality of the data delivered by iPass," said Patricia Hume, COO at iPass. "As we've suggested in the past, whether the customer is an enterprise, a mobile operator, or a retail brand, traditional iPass connectivity services are the hook that drive the volume and density of data. It all starts with our iPass SmartConnect technology, which provides high quality data on network performance as well as hotspot and device location. We look forward to working with these two valued partners to provide their customers with the industry's most accurate location and network data."

08:02 EDT Cracker Barrel Q4 comparable store restaurant sales down 0.4% - Compared to the prior year fourth quarter, comparable restaurant sales declined 0.4% and comparable store retail sales increased 1.3%.

07:57 EDT Thor Industries to acquire Erwin Hymer Group in deal valued about EUR 2.1B - Thor Industries and the shareholders of Erwin Hymer Group SE announced that they have entered into a definitive agreement for Thor to acquire Erwin Hymer Group, a privately held international company, for an enterprise value of approximately EUR 2.1B, with the purchase price to be funded with cash and equity. Equity consideration will consist of approximately 2.3M shares of Thor. The Hymer family will thereby remain engaged in the industry. The combination creates the world's largest RV manufacturer, with the leading position in both North America and Europe, and establishes a global sales and production footprint for the company. Thor expects the transaction to be accretive to earnings in the first year, before taking into account anticipated synergies, purchase accounting adjustments and transaction-related expenses. Subsequent to closing, Thor intends to repurchase shares both opportunistically and systematically in order to offset the issuance of shares to the Hymer family. Headquartered in Bad Waldsee, Germany, Erwin Hymer Group is one of the premier manufacturers of recreational vehicles in a growing European market, with an impressive lineup of industry leading vehicle brands, a strong reputation for investing in product innovation and a dedication to providing exceptional customer value. EHG sells through a worldwide network of more than 1,200 retail dealerships and employs more than 7,300 dedicated team members globally. EHG's product portfolio spans all major RV categories and price points, from lightweight travel trailers to high-end motorhomes. For the fiscal year ended August 31, 2018, the Erwin Hymer Group expects to generate revenues of over EUR 2.5B, or approximately $2.9B at current exchange rate. Martin Brandt will continue to lead the Erwin Hymer Group business post-closing as its CEO, reporting directly to Thor's CEO, Bob Martin. No changes in production facilities or employee levels are anticipated within EHG or Thor as a direct result of this transaction. The transaction has been approved by Thor's board of directors and is expected to close near the end of the calendar year, subject to customary closing conditions, including regulatory and other necessary approvals.

07:38 EDT Deciphera appoints Daniel Martin as CCO - Deciphera (DCPH) announced that it has appointed Daniel Martin as chief commercial officer, or CCO. In this newly created role, Martin will be responsible for establishing the global strategy and leading the commercial organization at Deciphera. Martin has more than 20 years of commercial experience within the biopharmaceutical industry with extensive background in oncology, including immuno-oncology. Prior to joining Deciphera, he served as senior VP, commercial at Heron Therapeutics (HRTX) where he built the company's commercial organization, including establishing marketing, sales, and market access functions, and launched its oncology portfolio.

07:35 EDT Viking Therapeutics trading resumes

07:16 EDT Sempra Energy announces agreement with Elliott Management, Bluescape Energy - Sempra Energy announced that it has entered into a cooperation agreement with affiliates of Elliott Management Corporation and Bluescape Energy Partners LLC. Funds affiliated with Elliott and Bluescape collectively own a 4.9% economic interest in Sempra Energy valued at $1.6B. As part of the agreement and the ongoing refreshment of the Sempra Energy board, the parties have worked cooperatively together to identify a discrete list of final board nominees and expect to work together for Sempra Energy to announce and appoint two new directors to Sempra Energy's board that are mutually agreed between the parties in the coming weeks. Additionally, Sempra Energy will repurpose its board's current LNG Construction and Technology Committee into a new LNG and Business Development Committee. The new committee will consist of its three current members and, upon appointment to the Sempra Energy board, the two new directors. The LNG and Business Development Committee's updated charter calls for it to work with management and the board in leading a comprehensive review of Sempra Energy's businesses. The charter also allows the committee to retain its own independent consultants and advisors. Sempra Energy intends to update the market on the results to date of the strategic review, including any actions to be taken, in the first quarter of 2019. Elliott and Bluescape also have agreed to customary standstill, voting and other provisions. "Sempra Energy is committed to an open dialogue with our shareholders and to considering all investor perspectives on the company's existing strategy and longer-term opportunities to create shareholder value," said Jeffrey W. Martin, CEO of Sempra Energy. "We are pleased to have reached a positive outcome with Elliott and Bluescape. Our management team looks forward to working with the LNG and Business Development Committee and our full board on the continued thoughtful examination of our business and capital allocation opportunities."

07:13 EDT Novo Nordisk announces plans to restructure R&D - Novo Nordisk announced plans to restructure its Research & Development, or R&D, organization to accelerate the expansion and diversification of its pipeline across serious chronic diseases. To enable increased investment in transformational biological and technological innovation within both core and new therapy areas, approximately 400 employees will be laid off from R&D roles in Denmark and China. To support its strategic ambitions, Novo Nordisk will establish four Transformational Research Units in 2018 to pursue novel treatment modalities and platform technologies. The biotech-like units, based in Denmark, the US and the UK, will operate as satellites of Novo Nordisk's central R&D function and will drive innovation in priority fields such as translational cardio-metabolic research and stem cell research. Furthermore, to drive a faster and more efficient path towards lead molecule selection and development, Novo Nordisk will significantly increase its investment in automation and digital capabilities including machine learning and artificial intelligence. The integration of laboratory infrastructure and IT systems will also be prioritized to increase the efficiency of the R&D organization, the company said. "The restructuring and re-allocation of resources supports Novo Nordisk's ambition to transform the way it works within R&D in order to identify and develop truly innovative drug candidates. This will be facilitated by the identification and pursuit of new therapeutic approaches based on external collaborations - a priority that Novo Nordisk will accelerate via the establishment of a new Business Development unit in Cambridge, MA, US," Novo Nordisk added.

07:11 EDT AutoZone reports inventory up 1.6% y/y - The company's inventory increased 1.6% over the same period last year, driven by new stores and increased product placement, partially offset by the impact of the sale of two business units. Inventory per location at the end of the year was $636,000 versus $644,000 last year and $658,000 last quarter. Net inventory, defined as merchandise inventories less accounts payable, on a per location basis, was a negative $75,000 at the end of the year versus negative $48,000 last year and last quarter.

07:09 EDT Plug Power begins production of MEAs - Plug Power announced the production of its membrane electrode assemblies, or MEAs. Leveraging the expertise gained through its acquisition of American Fuel Cell, or AFC technology in June, Plug Power's proprietary MEA is a key component of the newly designed ProGen metal plate stack. The new stack provides Plug Power with double the power density of its graphite plate stack and extending the life cycle for on-road applications. With this new stack, Plug Power continues its commitment to fuel cell innovation and its goal of accelerating the adoption of zero emission hydrogen fuel cell electric vehicles, or HFCVs, through technologies. Hydrogen fuel cells are the "cleanest" alternative energy solution available, with heat and water as the only byproducts. For businesses dependent on the usability and range of delivery vehicles, HFCVs provide improved uptime.

07:09 EDT Enbridge agrees to acquire all public equity of EEP, EEQ in $3.5B deal - Enbridge (ENB), on behalf of itself and certain of its wholly owned U.S. subsidiaries, Enbridge Energy Partners (EEP) and Enbridge Energy Management (EEQ), announced that they have entered into separate definitive agreements under which Enbridge will acquire all of the outstanding public Class A common units of EEP and all of the outstanding public Listed Shares of EEQ. The acquired equity of the combined transactions is valued at $3.5B based on the closing price of Enbridge's common shares on the New York Stock Exchange on September 17, 2018. Pursuant to the Agreement for the EEP buy-in, EEP public unitholders will receive 0.3350 common shares of Enbridge for each Class A common unit of EEP, which represents an 8.7% increase to the exchange ratio proposed by Enbridge on May 17, 2018, of 0.3083 Enbridge common shares per EEP Class A common unit. Pursuant to the Agreement for the EEQ buy-in, EEQ public shareholders will receive 0.3350 common shares of Enbridge for each Listed Share of EEQ, which is at parity with the EEP Exchange Ratio. These Agreements, in conjunction with the definitive agreement reached with Enbridge Income Fund Holdings Inc. announced today, and the previously announced definitive agreement reached with Spectra Energy Partners (SEP) on August 24, 2018, represent the achievement of significant milestones in the simplification of Enbridge's corporate structure. Upon closing of these buy-in transactions, the rollup of these sponsored vehicles will streamline Enbridge's corporate and capital structures and brings all of the core liquids and gas pipeline assets under the umbrella of a single publicly-traded entity to the benefit of all shareholders and unitholders.

07:07 EDT Viking Therapeutics announces results from Phase 2 study of VK2809 - Viking Therapeutics announced positive top-line results from a 12-week Phase 2 study of VK2809, its novel liver-selective thyroid receptor beta agonist, in patients with non-alcoholic fatty liver disease, or NAFLD, and elevated low-density lipoprotein cholesterol, or LDL-C. The study successfully achieved its primary endpoint, with patients receiving VK2809 demonstrating statistically significant reductions in LDL-C compared with placebo. In addition, the trial's secondary endpoint was achieved, with VK2809-treated patients experiencing statistically significant reductions in liver fat content compared with placebo. An abstract describing the results has been submitted for consideration for presentation at The Liver Meeting 2018, the annual meeting of the American Association for the Study of Liver Diseases, scheduled for November 9-13 in San Francisco, CA.

07:06 EDT Enbridge agrees to buy all public equity of Enbridge Income in C$4.7B deal - Enbridge Inc. (ENB) and Enbridge Income Fund Holdings announced that they have entered into a definitive arrangement agreement under which Enbridge will acquire all of the issued and outstanding public common shares of ENF, traded on the Toronto Stock Exchange, subject to the approval of ENF shareholders. Under the terms of the Agreement, each common share of ENF will be exchanged for 0.7350 of a common share of Enbridge and cash of C$0.45 per ENF Share. ENF shareholders will also be entitled to receive the Enbridge fourth quarter dividend. The Agreed Exchange Ratio represents an increase of 9.8% relative to the unaffected ENF exchange ratio on May 16, 2018, and 11.3% inclusive of the cash component. The total transaction is valued at C$4.7B, based on the closing price of the Enbridge Shares on the Toronto Stock Exchange on September 17, 2018. This agreement, in conjunction with the definitive agreements reached with Enbridge Energy Partners (EEP) and Enbridge Energy Management (EEQ) announced today, and the previously announced Spectra Energy Partners (SEP) transaction on August 24, 2018, represent the achievement of significant milestones in the simplification of Enbridge's corporate structure. Upon closing of these buy-in transactions, the rollup of these sponsored vehicles will streamline Enbridge's corporate and capital structures and brings all of the core liquids and gas pipeline assets under the umbrella of a single publicly-traded entity to the benefit of all shareholders and unitholders.

07:05 EDT AstraZeneca says FASENRA shows consistent safety, sustained efficacy in trial - AstraZeneca announced results from the Phase III extension BORA trial evaluating the long-term safety and efficacy of FASENRA as an add-on maintenance treatment in patients with severe eosinophilic asthma who had previously completed one of the two pivotal SIROCCO or CALIMA Phase III trials. In the BORA trial, FASENRA given for an additional 56 weeks showed a safety and tolerability profile similar to that observed in the placebo-controlled SIROCCO and CALIMA trials, with no increase in the frequencies of overall or serious adverse events. The improvements in efficacy measures observed with FASENRA in the SIROCCO or CALIMA trials were maintained over the second year of treatment. Patients who were treated with placebo in the SIROCCO and CALIMA trials and subsequently transitioned to FASENRA in the BORA trial experienced improvements in efficacy outcomes consistent with those observed for FASENRA-treated patients in the previous trials. FASENRA is not approved for the treatment of other eosinophilic conditions or relief of acute bronchospasm or status asthmaticus. 74% of patients with a baseline blood eosinophil count of 300 cells per muL or greater who received FASENRA every eight weeks continuously from SIROCCO or CALIMA and into BORA, were exacerbation-free in BORA in their second year of treatment and maintained improvements in lung function and asthma control. 65% and 66%, respectively, of patients with a baseline blood eosinophil count of 300 cells per muL or greater who received FASENRA 30 mg every eight weeks were exacerbation-free their first year of treatment in the one-year, predecessor SIROCCO and CALIMA trials. The BORA data will be presented during a late-breaking oral session at the European Respiratory Society International Congress 2018 in Paris, France. The overall annual asthma exacerbation rate for patients with baseline blood eosinophil counts of 300 cells per muL or greater who received FASENRA every 8 weeks continuously was consistent with the predecessor SIROCCO and CALIMA trials. Overall improvements in lung function, asthma control, asthma-related and general health-related quality of life scores were maintained for patients who received FASENRA continuously and were improved for patients previously receiving placebo in SIROCCO or CALIMA. Near complete eosinophil depletion was maintained in patients who continuously received FASENRA. The most commonly-reported adverse events in BORA were upper respiratory tract infection, worsening asthma, headache, bronchitis and acute sinusitis. The most commonly-reported adverse events in SIROCCO, CALIMA and ZONDA were headache and pharyngitis.

07:03 EDT BioTime appoints Brian Culley as CEO - BioTime (BTX) announced that the board has implemented a new leadership structure under which Brian Culley has been appointed as the company's CEO and as a member of its board, effective September 17. Culley succeeds Co-CEOs Adi Mohanty and Dr. Michael West. Culley is an experienced public biopharmaceutical company CEO, having served in that capacity for seven years at Mast Therapeutics, which merged in 2017 with Savara (SVRA).

07:02 EDT Tilray announces U.S. DEA approval to import medical cannabis study drug - Tilray announced that the U.S. Drug Enforcement Administration as granted approval to import a cannabinoid study drug into the United States from Canada for a clinical trial at the University of California San Diego Center for Medicinal Cannabis Research examining its safety, tolerability and efficacy for Essential Tremor. Tilray is providing a cannabinoid formulation for the trial in capsule form, which will allow researchers to test an investigational drug product containing two active ingredients extracted from the cannabis plant, cannabidiol and tetrahydrocannabinol. Dr. Fatta Nahab, a board-certified neurologist and director of the Functional Imaging of Neurodegenerative Disorders Lab at the UC San Diego Health's Movement Disorder Center, will serve as the principal investigator for the study. It is expected to begin in early 2019 with financial support from Tilray and the International Essential Tremor Foundation. Essential Tremor is a neurological movement disorder characterized by involuntary and rhythmic shaking. ET has extremely high prevalence rates; 0.4% of the general population suffer from ET, and that figure rises to 4.6%-6.3% among those 65 and older. Essential Tremor can have a significant impact on a patient's quality of life, causing embarrassment, social withdrawal, disability, and loss of occupation. Many patients do not experience relief with the current drugs on the market or find the side-effects of these drugs to be unbearable.

07:00 EDT Viking Therapeutics trading halted, news pending

06:52 EDT Brown & Brown of Florida acquires assets of Vandroff Insurance Agency - J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, and David Vandroff, the sole shareholder of Vandroff Insurance, announced that Brown & Brown of Florida, a subsidiary of Brown & Brown, has acquired substantially all of the assets of Vandroff Insurance Agency. Vandroff Insurance is a 120-year old family owned agency in Jacksonville. Vandroff Insurance provides a wide variety of personal and business insurance products and services to clients in Jacksonville and Northern Florida and has annual revenue of approximately $1M. David Vandroff and his team will join Brown & Brown's Jacksonville, Florida office, led by Josh Becksmith and reporting to Michael Keeby, Regional President of Brown & Brown Retail.

06:41 EDT Apogee Enterprises: 'challenges ramping-up production in Architectural Glass' - "In the second quarter, we continued to benefit from strong market conditions and demand for Apogee's diverse product and services offerings, which drove solid top-line growth, adjusted earnings in-line with prior year, and increased cash flow. However, challenges ramping-up production in Architectural Glass in a tight labor market impacted overall results in the quarter," said Joseph Puishys, CEO. "Apogee's other three business segments delivered solid results, as expected, with Architectural Services achieving over 60 percent revenue growth and robust margin expansion. Our Glass segment saw much stronger than expected customer demand and a surge in orders across all segments of the market. However, we experienced difficulty hiring and training new staff to meet rapidly rising order volumes. We've moved aggressively to address these issues and made improvements as the quarter progressed. We expect to fully resolve these issues in the second half of the fiscal year, as our workforce stabilizes and our factories reach higher levels of output and productivity." Puishys concluded, "As a result of lower than expected second quarter results and a reduced second half outlook for Architectural Glass, we have decreased our guidance for the fiscal year. Looking ahead, I remain confident in Apogee's long-term direction. We continue to see multiple drivers for continued organic growth, supported by a strong backlog and a positive outlook for the North American construction industry. We are pursuing numerous opportunities for margin expansion and we have a strong balance sheet, which provides flexibility for investing in our business and driving long-term shareholder value."

06:37 EDT Unum Group sees Q3 long-term care GAAP reserves up by $590M - Unum Group announces that it has substantially completed its reserve review for its long-term care block of business, previously referenced in the company's Q2 earnings release. Based on its analysis, the company expects to increase its long-term care GAAP reserves in the Q3 by approximately $590M after-tax, or approximately $750Mtax. Q3 results are expected to be announced on October 24. The company estimates the impact to its statutory reserves will be approximately $200M on a before-tax basis, covering both its active life and claim reserves for long-term care for all its legal entities. The company's capital deployment plan remains unchanged and Unum intends to resume share repurchase activity following the release of its Q3 results. The above amounts are subject to the company's final close procedures for the Q3 and may change when the company closes the quarter in amounts it believes immaterial.

06:35 EDT Apogee Enterprises cuts FY10 adj. operating margin view to 8.6%-9.1% - Prior view was 9.2%-9.7%. Sees FY19 CapEx $60M-$65M; Tax rate of approximately 24%. The company is reducing its outlook for the full year, primarily due to lower than expected second quarter results and decreased profit expectations for Architectural Glass.

06:31 EDT Graham awarded three orders totaling $17.5M - Graham announced that it received three orders totaling approximately $17.5M. The first order is for a new petrochemical facility to be built in the U.S. Gulf Coast, for which Graham will provide vacuum condensers and ejector systems. For the second order, Graham will provide ejector systems for capacity expansion at a Mideast crude oil refinery. The third order involves replacing a Graham surface condenser that was installed in a U.S. crude oil refinery more than 40 years ago. Equipment delivery for all three orders is planned for Graham's fiscal year ending March 31, 2020. No revenue contribution associated with these orders is expected in the current fiscal year ending March 31, 2019, which we refer to as FY19. The company added, "As we look forward to FY20, we continue to project growth compared with our current guidance for FY19. This expectation is based on our growing backlog of work for the U.S. Navy and our traditional oil refining and chemical industries, along with a positive outlook for our key end markets."

06:19 EDT Kaplan acquires certain assets of Barron's Educational Series - Kaplan Test Prep announced it has acquired the test prep, study aid and foreign language assets of Barron's Educational Series, a leading book publisher. As part of the transaction, Kaplan will also acquire the Barron's brand name. Terms of the transaction were not disclosed.

06:11 EDT MasterCard reaches agreement to settle U.S. merchant class-action litigation - Mastercard has reached an agreement to settle monetary damages claims in the U.S. merchant class-action litigation. The agreement formalizes prior discussions and has been executed by all of the defendants - including Mastercard, Visa and a number of banks - and the court-appointed class counsel for the merchants. The settlement is an amendment to the financial terms of the 2012 Class Settlement Agreement and will be filed with the court seeking approval. "We are taking a significant step toward closing a chapter in a long-standing case," said Tim Murphy, general counsel, Mastercard. "We can put this behind us and focus on continuing to innovate with our merchant partners to deliver the experience and convenience that consumers expect." In addition to the original 2012 monetary terms, Mastercard's share of the financial agreement is an additional $108M, which is based upon the allocation of financial responsibility that was set out in the judgment and settlement sharing agreements that were executed in February 2011. In total, the defendants have agreed upon an additional payment of $900M in the current agreement. The company recorded a $210M charge in its second-quarter 2018 financial statements, which will cover the financial obligation under this agreement and for estimated liabilities related to filed and anticipated opt-out merchant cases. The merchant class-action that seeks the revision of network rules is not covered by this settlement agreement. That action remains outstanding while the parties are engaged in settlement negotiations. After court approval of the monetary agreement, Mastercard and its customer financial institutions will receive a release of all monetary claims alleged by the merchant class members concerning the company's interchange and fee structure and merchant acceptance rules. This release covers all previous, as well as future claims, for a period of five years after resolution of all appeals.

06:06 EDT EU probes BMW, Daimler, VW over possible cartel behavior - The European Commission has opened an in-depth investigation to assess whether BMW (BMWYY), Daimler (DDAIF) and VW -- Volkswagen (VLKAY), Audi (AUDVF), Porsche (POAHY) -- colluded, in breach of EU antitrust rules, to avoid competition on the development and roll-out of technology to clean the emissions of petrol and diesel passenger cars. Commissioner Margrethe Vestager, in charge of competition policy, said: "The Commission is investigating whether BMW, Daimler and VW agreed not to compete against each other on the development and roll-out of important systems to reduce harmful emissions from petrol and diesel passenger cars. These technologies aim at making passenger cars less damaging to the environment. If proven, this collusion may have denied consumers the opportunity to buy less polluting cars, despite the technology being available to the manufacturers." In October 2017, the Commission carried out inspections at the premises of BMW, Daimler, Volkswagen and Audi in Germany as part of its initial inquiries into possible collusion between car manufacturers on the technological development of passenger cars. The Commission's in-depth investigation focuses on information indicating that BMW, Daimler, Volkswagen, Audi and Porsche, also called the "circle of five", participated in meetings where they discussed inter alia the development and deployment of technologies to limit harmful car exhaust emissions. In particular, the Commission is assessing whether the companies colluded to limit the development and roll-out of certain emissions control systems for cars sold in the European Economic Area.

06:01 EDT Southcross Energy Partners names James Swent III as CEO - Southcross Energy Partners announced that James Swent III has been elected Chairman, President and CEO by its Board of Directors. David Biegler, who has served as interim Chairman, President and CEO since March 2018, will remain a director. Swent has over 35 years of experience in finance, operations and international business in a diverse range of industries, having served most recently as President and CEO of Paragon Offshore.

05:40 EDT Marsh & McLennan to acquire Jardine Lloyd Thompson for GBP 19.15 per share - Marsh & McLennan announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group. The transaction has been approved by the board of each of MMC and JLT. Under the terms of the transaction, holders of JLT's common shares will receive cash consideration of GBP 19.15 per share. Total cash consideration equates to $5.6B U.S. dollars in fully diluted equity value, or an estimated enterprise value of $6.4B. The transaction will be funded by a combination of cash on hand and proceeds from debt financing. The company expects the transaction to be immediately accretive to adjusted cash EPS and, as modeled, will produce a double-digit internal rate of return. "On an adjusted GAAP EPS basis, the company anticipates the deal will be modestly dilutive in 2019, but we expect it to be neutral to adjusted GAAP EPS in 2020."

05:31 EDT GE Transportation announces new high-speed engine program - GE Transportation announced at InnoTrans 2018 a new high-speed diesel engine program, which will serve the locomotive, marine and power generation segments. The engine platform will provide improved fuel efficiency and reliability, as well as lower lifecycle costs. "This new, high-speed engine will be a game changer for our customers," said Dominique Malenfant, Vice President of Global Technology for GE Transportation. "They will enjoy reduced operating costs and increased availability with this engine. It will generate annual savings for customers of up to $12,000 in diesel and $4,000 in services." Compared to similarly sized locomotive engines, GE Transportation's high-speed engine will offer a 5 percent better total cost of ownership. It will be 5 percent more fuel efficient, saving customers more than 6,000 gallons of diesel per year. The engine also will reduce maintenance costs by 10 percent and provide 184-day service intervals. Overhauls will be on 10-year intervals.

05:14 EDT Duke Energy estimates power restoration for Carolinas customers by 9/26 - Duke Energy expects to restore power to most North Carolina and South Carolina customers impacted by Hurricane Florence by Sept. 26 at 11:45 p.m. - but the vast majority will be restored sooner. "We're doing everything we can to safely restore power to every customer as quickly as conditions allow," said Duke Energy incident commander Howard Fowler. "We won't rest until the job is done."