Stockwinners Market Radar for October 04, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:10 EDT MGM Resorts Chief Customer Development Officer Robert Baldwin to step down - MGM Resorts International announced that Robert Baldwin, Chief Customer Development Officer of MGM Resorts and CEO and President of CityCenter, will be leaving his positions at both companies later this year.

19:08 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: SMART Global Holdings (SGH) up 14.1%. ALSO HIGHER: EMCORE Corp (EMKR) up 9.9% after raised Q4 guidance... Chef's Warehouse (CHEF) up 6.3% after entering S&P SmallCap 600 index... Verastem (VSTM) up 4.0% after publication of Phase 3 DUO results in Blood... Paratek Pharma (PRTK) up 2.8% after announcing EMA acceptance of MAA for omadacycline. DOWN AFTER EARNINGS: LeMaitre Vascular (LMAT) down 15.1%... Costco (COST) down 2.5%. ALSO LOWER: Cutera (CUTR) down 16% after lowering FY18 guidance on Juliet headwinds.

19:04 EDT Northwest Natural Gas raises quarterly dividend to 47.5c per share - The dividend will be paid Nov. 15 to shareholders of record on Oct. 31. The company's indicated annual dividend rate is $1.90 per share.

19:02 EDT Bank of Commerce to acquire Merchants Holding Company for $37M - Bank of Commerce Holdings and Merchants Holding Company announced the signing of a definitive merger agreement whereby BOCH will acquire Merchants in a stock and cash transaction valued at approximately $37M. As of June 30, 2018, on a pro forma consolidated basis, the combined company would have approximately $1.5Bin assets, $1.2B in deposits, and operate 10 branch offices throughout northern California. Merchants, headquartered in Sacramento, California, is the parent company of The Merchants National Bank of Sacramento, a 97-year-old bank with approximately $218 million in assets as of June 30, 2018. Merchants Bank operates in a single branch location in downtown Sacramento.

18:17 EDT Teck Resources receives TSX approval for share buyback program - Teck Resources has been informed that the Toronto Stock Exchange has accepted Teck's notice of intention to make a normal course issuer bid to purchase its Class B subordinate voting shares. Under the normal course issuer bid, Teck may purchase up to 40 million Class B Shares during the period starting October 10, 2018 and ending October 9, 2019, representing approximately 7.1% of the outstanding Class B Shares, or 7.9% of the public float, as at October 3, 2018. 566,501,908 Class B Shares were issued and outstanding as at October 3, 2018.

17:22 EDT Chefs' Warehouse to replace Penn National in S&P 600 at open on 10/10

17:21 EDT Westwood Holdings Group names Terry Forbes new CFO - Westwood Holdings is pleased to announce the promotion of our Vice President of Finance, Murray "Terry" Forbes III, CPA to the position of Chief Financial Officer. Terry takes over from Tiffany Kice, CPA who is resigning to pursue another business opportunity. Terry joined Westwood in December 2014 as Vice President of Finance and has worked closely with Tiffany across all areas of finance, accounting, treasury, tax, internal audit and risk management. He has 18 years of multi-industry experience in the public and private sectors, including 12 years in public accounting.

17:19 EDT ASGN to replace Fortinet in S&P 400 at open on 10/11

17:12 EDT Hudbay Minerals comments on media report speculating on potential acquisition - "Hudbay Minerals commented on a media report speculating on a potential business acquisition by the company. While the company's policy is to avoid comment on speculation and rumours, Hudbay emphasizes that it has had a consistent strategy of optimizing the value of its current operations and evaluating growth opportunities that are complementary to its current business and that it continues to adhere to this strategy. As described in Hudbay's public disclosure, this may include acquisitions that fit Hudbay's stringent criteria, ranging from early stage exploration to producing mines, provided they are accretive to shareholder value on a per share basis. Further, any acquisitions would ensure that Hudbay retains the financial flexibility and management capacity to maximize the value of its assets and existing growth opportunities."

16:55 EDT LeMaitre reports Q3 gross margin 71.4% vs 70.8% last year - Reports Q3 EBITDA $5.5M vs. $6.0M last year.

16:38 EDT Electronics for Imaging names William Muir as new CEO - Electronics For Imaging (EFII) announced that its Board of Directors has named William D. Muir as its new CEO. Muir was most recently the COO of Jabil (JBL), a product solutions company. His appointment is effective October 15, when he will also join the Board of Directors. Muir succeeds Guy Gecht, who informed the Board he intended to step down as CEO upon the appointment of his successor, as the Company announced on July 30. Gecht will remain a member of the Board of Directors and will be an advisor to the CEO.

16:33 EDT Calyxt signs agreement with KemX Global to refine high-oleic soybean oil - Calyxt announced that the company has inked an agreement with KemX Global to refine Calyxt's high-oleic soybean oil, an advancement that will allow Calyxt to produce food-grade high-oleic soybean oil as the company's first product that is expected to hit the market in late 2018/ early 2019. Based in Boone, Iowa, KemX Global, with a plant that is organic and non-GMO-certified, has the capacity to refine 115M pounds of premium oils per annum. The plant design incorporates the latest advances in physical refining to reduce the use of chemicals in the oil refining process. Last month, Calyxt announced an agreement with American Natural Processors, or ANP, a leading provider of innovative non-GMO and organic processing of oils, flours and meals, to crush Calyxt's high-oleic soybean variety and produce the company's high-oleic soybean oil. Additionally, in mid-2015, Calyxt received a letter from the United States Department of Agriculture, or USDA, confirming that the company's high-oleic soybean variety is non-regulated, as the product contains no foreign DNA.

16:26 EDT Gabelli reports 5.61% stake in K2M Group - The aggregate number of securities to which this Schedule 13D relates is 2,455,118 shares, representing 5.61% of the 43,733,631 shares outstanding as reported by K2M Group as of September 11.

16:24 EDT Costco expects to report material weakness in internal control - While Costco is still completing its assessment of the effectiveness of its internal control over financial reporting as of September 2, in its upcoming FY18 annual report, it expects to report a material weakness in internal control. The weakness relates to general information technology controls in the areas of user access and program change-management over certain information technology systems that support the company's financial reporting processes. The access issues relate to the extent of privileges afforded users authorized to access company systems. As of the date of this release, there have been no misstatements identified in the financial statements as a result of these deficiencies, and the company expects to timely file its Form 10-K. Remediation efforts have begun; the material weakness will not be considered remediated until the applicable controls operate for a sufficient period of time and management has concluded, through testing, that these controls are operating effectively. The company expects that the remediation of this material weakness will be completed prior to the end of FY19.

16:22 EDT Costco down 3.6% after reporting Q4 earnings results

16:18 EDT Musk tweets 'Shortseller Enrichment Commission...doing incredible work' - Tesla CEO Elon Musk tweeted, in apparent reference to the SEC: "Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" Reference Link

16:17 EDT AvalonBay to sell 80% interest in five Manhattan apartment communities - AvalonBay entered into an agreement to contribute its fee ownership of Avalon Morningside Park, Avalon Bowery Place I, and Avalon Bowery Place II, as well as its leasehold interest in Avalon West Chelsea and AVA High Line, to a newly formed joint venture with an institutional client of global real estate investment manager, Invesco Real Estate, in which AvalonBay will retain a 20% interest and act as the managing member and property manager for the assets. These five communities contain 1,301 apartment homes and approximately 58,000 square feet of retail space in the borough of Manhattan in New York City. The transaction is based on an aggregate asset valuation of approximately $760M and is expected to close before the end of 2018. AvalonBay intends to use the estimated net proceeds of approximately $460M from this transaction for general corporate purposes, which may include the acquisition, development and redevelopment of apartment communities.

16:16 EDT LendingTree to acquire QuoteWizard.com in roughly $370.2M deal - LendingTree announced that it has entered into a definitive agreement to acquire QuoteWizard.com, LLC, an largest insurance comparison marketplace. The equity purchase has a possible total consideration of $370.2M, which consists of $300M in cash at closing and contingent payments of up to $70.2M, subject to achieving certain growth targets over a three-year period. The acquisition is expected to close in the fourth quarter subject to customary closing conditions and LendingTree intends to fund the acquisition through cash on hand and by drawing on the existing credit agreement. LendingTree expects the acquisition to be accretive to 2019 adjusted earnings per share.

16:11 EDT eMagin names Amal Ghosh CTO - eMagin Corporation announced the promotion of Jeffrey Lucas to President and Dr. Amal Ghosh to Chief Technical Officer. Dr. Ghosh was previously Senior Vice President, Research and Development. Andrew Sculley will continue to serve as eMagin's Chief Executive Officer.

16:08 EDT Akcea, Ionis announce Canadian approval of Tegseditm - Akcea Therapeutics (AKCA), an affiliate of Ionis Pharmaceuticals, and Ionis Pharmaceuticals (IONS), announced that Tegseditm is now approved in Canada for the treatment of stage 1 or stage 2 polyneuropathy in adult patients with hereditary transthyretin amyloidosis.

16:08 EDT RPM increases quarterly cash dividend 9.4% to 35c per share - RPM International announced at its annual meeting of stockholders that its board declared a regular quarterly cash dividend of 35c per share, payable on October 31 to stockholders of record as of October 16. This payment represents a 9.4% increase over the 32c quarterly cash dividend paid at this time last year.

16:07 EDT Akcea Therapeutics announces Canadian approval of Tegseditm - Akcea Therapeutics (AKCA), an affiliate of Ionis Pharmaceuticals, and Ionis Pharmaceuticals (IONS), announced that Tegseditm is now approved in Canada for the treatment of stage 1 or stage 2 polyneuropathy in adult patients with hereditary transthyretin amyloidosis.

16:06 EDT Verastem announces publication of Phase 3 DUO results in the journal Blood - Verastem, Inc. announced that the results of the Phase 3 DUO study, which evaluated COPIKTRA capsules versus ofatumumab in patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma, was published online in the peer-reviewed journal Blood. COPIKTRA is an oral inhibitor of phosphoinositide 3-kinase, and the first approved dual inhibitor of PI3K-delta and PI3K-gamma. COPIKTRA was approved by the U.S. Food and Drug Administration on September 24th, 2018 for the treatment of relapsed or refractory CLL/SLL after at least two prior therapies. The COPIKTRA NDA was supported by clinical data from the randomized, multicenter, open-label Phase 3 DUO study, which compared COPIKTRA versus ofatumumab in 319 adult patients with CLL or SLL after at least one prior therapy. The study randomized patients with a 1:1 ratio to receive either COPIKTRA 25mg BID until disease progression or unacceptable toxicity, or ofatumumab for 7 cycles. "Continued research for new treatment options is important to address the needs of patients with relapsed or refractory CLL/SLL once they have progressed," said Ian Flinn, M.D., Ph.D., Director of the Lymphoma Research Program at Sarah Cannon Research Institute, lead investigator of the Phase 3 DUO study and lead author of the manuscript. "Duvelisib is an important addition to the evolving treatment paradigm for patients with CLL/SLL and we are delighted to have the study results published in Blood to share with the medical and scientific communities."

16:01 EDT PHH Corp. trading resumes

15:48 EDT San Juan Basin Royalty Trust trading resumes

15:16 EDT RPM increases quarterly cash dividend 9.4% to 35c per share - RPM International announced at its annual meeting of stockholders that its board declared a regular quarterly cash dividend of 35c per share, payable on October 31 to stockholders of record as of October 16. This payment represents a 9.4% increase over the 32c quarterly cash dividend paid at this time last year.

15:05 EDT ESSA Bancorp CEO Gary Olson sells over $100K in company stock - ESSA Bancorp CEO Gary Olson disclosed in a filing that he had sold 6,243 shares of ESSA Bancorp at an average price of $16.25 per share on October 3. The total transaction value of the sale was $101,443.

14:59 EDT Super Micro Computer refutes claims in Bloomberg article

14:51 EDT AMC reports over 400,000 enrolled members for Stubs A-List program - AMC Theatres announced that AMC Stubs A-List has crossed more than 400,000 enrolled members. Adam Aron, AMC CEO and President, said, "While we do not plan to issue A-List enrollment statistics on a weekly basis, our hitting more than 400,000 enrolled members only three months and a week after launching the program is an enormous milestone. Those who have been following our progress with A-List are aware that we had originally expected 500,000 enrollments at the one-year mark and 1,000,000 enrollments at the two-year mark. Above our wildest hopes, in just 14 weeks, we have achieved 80% of our one-year goal and 40% of our two-year goal. This all bodes well for the future of increased moviegoing in America."

14:37 EDT Mallinckrodt selloff on Praxair FDA approval seen as overreaction - Shares of Mallinckrodt (MNK) are sliding following the FDA approval of an abbreviated new drug application for Praxair's (PX) Noxivent. Commenting on the news, Stifel analyst Annabel Samimy argued that the stock selloff is an overreaction as its competitor will face high commercial hurdles to displace the INOmax System and noted that consensus estimates have reflected potential commercial competition for well over a year. Voicing a similar opinion, her peer at BMO added that there are several important factors to consider that would appear to mitigate the generic risks and make the situation manageable for Mallinckrodt. SELLOFF AN OVERREACTION: Noxivent's filing as a generic has given investors pause that the gas will be used as a substitute to Mallinckrodt's nitrous oxide in the INOmax System, the leading nitric oxide vasodilator for respiratory failure in term/near-term infants, Stifel's Samimy said in a research note. The analyst pointed out, however, that Noxivent cannot be interchanged with the nitric oxide gas used in the INOmax System, and thus far, she has not seen a 510(k) approval from the FDA for Praxair's device. Furthermore, Samimy highlighted that the pending Praxair system will be another branded competitor and not a generic substitute as the Street reaction implies. The pending approval of this ANDA was well known, she contended, adding that she believes estimates have reflected potential competition for well over a year. Overall, the analyst sees the stock move as an "overreaction to a known event" and believes Mallinckrodt is well-positioned to defend its share. Samimy reiterated a Hold rating and $30 price target on the latter's shares. Also commenting on Praixar's Noxivent news, BMO Capital analyst Gary Nachman said in a research note of his own that the generic was expected to be approved at some point, although the timing was uncertain. Moreover, the analyst highlighted that there are several important factors to consider that would appear to mitigate the generic risk and make this situation manageable for Mallinckrodt. Praxair will need its device to be approved in order to have a generic version of INOmax, he noted, adding that he fully expects the device to be approved sometime soon. Additionally, the analyst pointed out that litigation is still ongoing with Mallinckrodt's appeal of the decision that favored Praxair regarding the INOmax patents, with the former indicating that the appeal is expected to be resolved sometime in the first half of 2019. A Praxair generic launch before then would be "at risk," Nachman argued. The analyst believes "this is a very challenging market" with many natural barriers including all the support that Mallinckrodt provides the neonatal intensive care units at hospitals. Nachman reiterated an Outperform rating and $37 price target on Mallinckrodt. PRAXAIR APPROVAL REINFORCES OVERHANG: Noting that INOmax is Mallinckrodt's second largest product, representing approximately $131M of sales in the second quarter, Wells Fargo analyst David Maris told investors that the approval of a generic version of its gas was something that was expected, although the exact timing was unexpected. The analyst pointed out that he was already modelling a slowdown in growth in 2019 for Mallinckrodt but is not modelling "a major loss" of market share. Overall, Maris believes that the Praxair approval "certainly reinforces an overhang issue" and brings market share risk closer to reality, and as such will likely have a negative impact on the shares. He reiterated a Market Perform rating and $30 price target on Mallinckrodt's shares. PRICE ACTION: In afternoon trading, shares of Mallinckrodt have plunged over 18% to $25.43.

13:45 EDT Tesla says one accident registered for every 3.34M autopilot miles in Q3 - Tesla stated in a Q3 'Vehicle Safety Report' issued via its blog: "Earlier this year, when we made the decision to begin publishing our safety data on a regular basis, we designed and introduced a completely new telemetry stream for our vehicles to facilitate these reports. This new data stream allows us to gather the most critical fleet-wide statistics from the exact moment a crash-related event is detected by our system. While there are still some unique cases in which crash data may not be available to us through this channel, we believe this system currently provides the best framework for safety reporting on an ongoing basis. Here's a look at the data we're able to report for Q3: Over the past quarter, we've registered one accident or crash-like event for every 3.34 million miles driven in which drivers had Autopilot engaged; For those driving without Autopilot, we registered one accident or crash-like event for every 1.92 million miles driven. By comparison, the National Highway Traffic Safety Administration's (NHTSA) most recent data shows that in the United States, there is an automobile crash every 492,000 miles. While NHTSA's data includes accidents that have occurred, our records include accidents as well as near misses (what we are calling crash-like events). Moving forward, we will publicly release these accident figures on a quarterly basis." Reference Link

13:29 EDT Stilwell Group: Wheeler REIT's capital structure 'has always been poor' - The Stilwell Group, the largest shareholder of Wheeler Real Estate Investment Trust, announced that it has released the following statements delivered by Joseph Stilwell to the Wheeler Board of Directors at the company's 2018 Annual Meeting of Shareholders held yesterday, October 3: "The capital structure of Wheeler has always been poor. The issuance of a substantial additional amount of the Series D preferred last January - to buy JANAF - which we view as a vanity project for the folks in Virginia Beach - made it a disaster to [Wheeler's common] shareholders. The Series D preferred has a 'death spiral' provision that takes effect in just under five years and will wipe out the common shareholders - giving the company about three years to find a solution. Six of you were here, and you all voted for it. If you were ignorant of the provision, to us - to me - you were grossly negligent. If you knew of the provision, you were recklessly negligent. The most charitable explanation we can imagine is that each of you was dead asleep. It's been our experience that the directors who create problems are seldom the ones to fix those problems. While I hope you prove me wrong in the next year, the signs aren't promising. Westport Capital now has a second director added to the Board; yet Westport's first director voted for all the bad stuff, and you renominated him. At Stilwell, we'd fire someone like that. And North Star's Andy Jones is a very passive guy who's already swapped out a part of his common shares into preferred shares. And of course, the other six of you caused this mess. I approached this election in too lighthearted a manner - a mistake I will not make next year."

12:58 EDT Manulife Financial: Mosten's position 'legally unfounded'

12:57 EDT Manulife Financial says 'disagrees' with conclusions of Muddy Waters report - Manulife Financial said in a statement: "The Muddy Waters report is a short seller's attempt to profit at the expense of our shareholders, and we disagree with its conclusions. Manulife continues to believe that Mosten's position is legally unfounded. We firmly believe that the consumers purchasing universal life policies, and the insurers issuing these policies, never intended to have the policies function as deposit or securities contracts. We have a sound, highly rated global franchise. We expect we will prevail with respect to this matter and that it will not affect our business operations or our ability to meet obligations to our customers, vendors and other key stakeholders."

12:41 EDT Roche's Genentech announces FDA approval of Hemlibra for Hemophilia A - Genentech, a member of the Roche Group, announced that the U.S. FDA has approved Hemlibra for routine prophylaxis to prevent or reduce the frequency of bleeding episodes in adults and children, ages newborn and older, with hemophilia A without factor VIII inhibitors. Hemlibra is now the only prophylactic treatment for people with hemophilia A with and without factor VIII inhibitors that can be administered subcutaneously and at multiple dosing options. This approval is based on positive results from the Phase III HAVEN 3 and HAVEN 4 studies. Hemlibra prophylaxis led to statistically significant and clinically meaningful reductions in treated bleeds compared to no prophylaxis and across all other bleed-related endpoints in the HAVEN 3 study, and showed a clinically meaningful control of bleeding in the HAVEN 4 study. Hemlibra is now available to people in the U.S. who have hemophilia A without factor VIII inhibitors.

12:20 EDT Brookfield consortium confirms preliminary stages of considering Intu offer - The Peel Group, The Olayan Group and Brookfield Property Group note the recent press speculation and confirm that the consortium is in the preliminary stages of considering a possible cash offer for the issued share capital of Intu not already owned by members of the consortium. The consortium said its consideration of the possible offer "is at a preliminary and exploratory stage and no approach has been made to the Board of Intu." It added that "there can be no certainty that any transaction will ultimately be forthcoming, nor can there be any certainty as to the terms of any such transaction."

12:06 EDT Capcom's 'Mega Man' IP to be adapted into movie distributed by Fox - Capcom (CCOEY) announced that its popular "Mega Man" IP is scheduled to be adapted into a live-action Hollywood film for the first time. The feature film, tentatively titled "MEGA MAN," will be written and directed by Henry Joost and Ariel Schulman, and is scheduled to be distributed by 20th Century Fox (FOX). Chernin Entertainment, responsible for the Planet of the Apes series, will be producing it with Masi Oka, of Heroes fame. Based on the influential and globally beloved "Mega Man" franchise, Capcom aims to appeal to a diverse audience, including not only game players but action movie fans as well, with an adaptation that maintains the world of the "Mega Man" games, while incorporating the grand production and entertainment value that Hollywood movies are known for.

12:00 EDT Posco falls -8.7% - Posco is down -8.7%, or -$5.71 to $60.17.

12:00 EDT Rudolph Technologies falls -17.5% - Rudolph Technologies is down -17.5%, or -$4.20 to $19.76.

12:00 EDT ITG rises 18.8% - ITG is up 18.8%, or $4.15 to $26.21.

11:28 EDT Constellation Brands CEO: 'Our core business is stronger than ever' - Constellation Brands management said investment in Canopy Growth was an offensive, not defensive move and there is "no evidence" of alcohol cannibalization from marijuana.

11:25 EDT Investment Technology Group trading resumes

11:14 EDT FTC to hold workshop examining online event ticket sales - The staff of the Federal Trade Commission will examine consumer protection and competition issues related to the online event-ticket marketplace at a public workshop on March 27, 2019. The online event ticket industry has been a frequent topic of consumer and competitor complaints, and FTC staff is seeking public input in advance of the workshop, including possible discussion topics and potential participants.The workshop will feature opening remarks by Commissioner Rebecca Kelly Slaughter and will bring together a variety of stakeholders, including industry representatives, consumer advocates, trade associations, academics and government officials, to discuss problematic practices in the online event ticket marketplace. The FTC said: "The Commission has a strong interest in protecting consumer confidence in the online marketplace. Issues that frequently arise in connection with online event ticket sales include practices that prevent consumers from obtaining tickets, mislead consumers about price or availability, or mislead consumers about the entity from which they are purchasing. The U.S. Government Accountability Office recently issued a report summarizing these issues. The workshop will discuss the current state of the online event ticket marketplace, shed light on industry-wide advertising and pricing issues, and explore ways to address deception beyond traditional law enforcement." Publicly traded companies that participate in this space include Live Nation (LYV), StubHub (EBAY).

11:03 EDT Keysight Technologies, Bluetest extend collaboration to 5G new radio solutions - Keysight Technologies has extended the company's collaboration with Bluetest to integrate Keysight's first-to-market 5G new radio network emulation solutions with Bluetest's reverberation chamber for Over-the-Air testing of 5G NR devices in sub-6GHz frequency bands. The integration of Keysight's 5G-based network emulation solutions with Bluetest's reverberation chambers, enables mobile operators, and their respective mobile device ecosystems, to quickly, easily and repeatably verify the data throughput performance of 5G NR devices operating in FR1. This leads to fast and cost-effective validation of 5G mobile devices.

10:48 EDT Constellation Brands CEO says cannabis market opening up faster than anticipated - Comments provided during Q2 earnings conference call.

10:42 EDT Novo Nordisk drops after Eli Lilly reports impressive diabetes drug data - Shares of Novo Nordisk (NVO) plunged in morning trading after Eli Lilly (LLY) said its new diabetes drug proved successful in reducing weight and lowering blood sugar in a mid-stage trial. SUCCESS IN DRUG TRIAL: Eli Lilly said this morning that its dual GIP and GLP-1 receptor agonist, a two-in-one drug, showed "strong" and "meaningful" reduction in blood sugar and weight loss in people with type 2 diabetes in a Phase 2b trial. The six-month data, which were presented at the 54th annual meeting of the European Association for the Study of Diabetes and simultaneously published in The Lancet, showed average HbA1c reductions of up to 2.4% and an average weight reduction up to 12.7%. At 26 weeks, the primary analysis of the trial showed a "robust" dose response compared to placebo throughout the entire dose range of GIP/GLP-1 RA included in the study, and a further study examining an optimal titration schedule to help manage GI side effects was conducted and will be presented next year. Eli Lilly said Phase 3 studies for type 2 diabetes are expected to begin no later than early 2019 and will complete in late 2021 and said it is evaluating its next steps in the study of GIP/GLP-1 RA for obesity and other conditions. WHAT'S NOTABLE: Novo Nordisk current GLP-1 products include Victoza and Omzepic, and the company is also developing an oral version of semaglutide, the active ingredient in Ozempic. BMO Capital Markets analyst Alex Arfaei said Wednesday in a research note that the treatment provides Eli Lilly with an opportunity to be competitive with Novo's semaglutide franchise and should meaningfully strengthen the company's growth prospects in the GLP-1 market. PRICE ACTION: Shares of Novo Nordisk trading in New York dropped 7.2% to $43.35, while Eli Lilly shares gained 4% to $112.94.

10:29 EDT National Western Life Group agrees to acquire Ozark National in $203M deal - Ross Moody, chairman, president, and CEO of National Western Life Group, announced that its wholly owned subsidiary, National Western Life Insurance Company, has entered into a Stock Purchase Agreement to acquire Ozark National Life Insurance Company and N.I.S. Financial Services. The transaction is expected to close during the first quarter of 2019, subject to customary closing conditions, including regulatory approval. Ozark National and N.I.S., both based in Kansas City, Missouri, are wholly owned subsidiaries of CNS Corporation. Founded in 1964, Ozark National does business in thirty states and has life insurance inforce of over $6B. N.I.S. is an affiliated broker-dealer of Ozark National. Under the terms of the Stock Purchase Agreement, NWLIC will pay CNS Corporation cash in an aggregate amount of approximately $203M, subject to certain adjustments, in exchange for all of the outstanding stock of Ozark National and N.I.S. Financial Services, Inc.

10:13 EDT Snap slides after analysts cut price targets on decelerating user trends - Shares of Snap (SNAP) are falling after two analysts cut their price targets for shares to $7 citing decelerating user trends. DECELERATING TRENDS: On Thursday, Evercore ISI analyst Anthony DiClemente lowered his price target for Snap to $7 from $9 given decelerating trends, management turnover, and competitive threats. The analyst told investors in a research note that he anticipates another quarter of sequential daily average user declines as competitive pressures in the wake of Snap's app redesign, along with the seasonally weak third quarter, drive DAUs lower by 1M quarter over quarter. Further, DiClemente believes that competition, particularly from Facebook's (FB) Instagram is "irreversibly" reducing Snap's opportunity to deliver on long-term investor expectations. The analyst added that revenue estimates for Q3 do not seem "overly demanding," however the stock is trading at the "loftiest" valuation in his coverage and it's difficult to argue that investors would forgive a continuation of declining user trends. He also notes that there is no evidence to suggest that Snapchat is significantly expanding the pool of advertisers beyond its current base. DiClemente said given the lack of positive catalysts in the face of declining users, decelerating revenue growth and management turnover ahead of seasonally critical Q4, he is lowering his price target. He reiterated an Underperform rating on Snap's shares. MAINTAINING SELL: Despite the 44% decline in shares year-to-date, Citi analyst Mark May kept a Sell rating on Snap, but again lowered his estimates to reflect recent trends in user and average revenue per user growth, Q3 guidance and a projected 2018 exit growth rate. This results in May cutting his price target for the shares to $7 from $8. In support of his Sell rating, May cited the company's recent executive departures, user trends in Q2 and continued operating losses. Further, May told investors in a research note of his own that he believes consensus 2019 revenue forecasts still appear too high and that Snap could be forced to raise additional capital in 2019 or 2020 without meaningful changes in revenue growth and/or operating leverage. He pointed out that despite the recent share price declines, short interest in the name has continued to rise and that Snap "still trades at a premium to most comps." WHAT'S NOTABLE: In a September 10 SEC filing, Snap said its chief strategy officer Imran Khan would depart the company to pursue other opportunities. Khan will continue to serve as chief strategy officer for an interim period to assist with an effective transition of his duties and responsibilities, Snap said, adding that Khan's last day has "not been determined." PRICE ACTION: Snap dropped 6.5% to $7.69 in morning trading.

10:05 EDT Manulife Financial named new short idea by Muddy Waters

10:01 EDT General Dynamics awarded $465M contract from U.S. Army - General Dynamics was awarded a contract for the U.S. Army Life Cycle Product Line Management Program from the U.S. Army Contracting Command in Orlando, Florida. The five-year indefinite delivery, indefinite quantity contract is a hybrid, cost-plus fixed fee, firm fixed price, and time and material award worth $465M.

09:57 EDT Rigel estimates 891 bottles of Tavalisse shipped in nine months end Sept. 30 - In a regulatory filing earlier ahead of the company's investor and analyst event, Rigel Pharmaceuticals disclosed that it intends to announce that, based upon its preliminary estimates, Rigel shipped 649 and 891 bottles of Tavalisse to specialty distributors during the three and nine months ended September 30, 2018, respectively. "This estimate has been prepared by and is the responsibility of Rigel's management. Rigel has not yet completed its closing process for the quarter ended September 30, 2018. This information is preliminary, has not been audited and is subject to change upon completion of Rigel's closing procedures," the filing noted.

09:47 EDT Monmouth Real Estate falls -7.4% - Monmouth Real Estate is down -7.4%, or -$1.20 to $14.98.

09:47 EDT Rudolph Technologies falls -14.6% - Rudolph Technologies is down -14.6%, or -$3.51 to $20.45.

09:47 EDT Cloudera rises 13.1% - Cloudera is up 13.1%, or $2.24 to $19.32.

09:40 EDT Gregory Wasson resigns from Verizon board after SEC settlement - Verizon Communications disclosed this morning that on October 1, Gregory Wasson informed the company that he is resigning from the board, effective October 1. Wasson's decision to resign is not the result of any disagreement with the company, Verizon added. Wasson, the former CEO of Walgreens Boots Alliance (WBA), agreed last week to pay $160,000 to settle claims by the SEC that the company's management failed to adequately disclose risks regarding its ability to reach earnings goals.

09:37 EDT Matthews mentioned cautiously by Grant's Interest Rate Observer

09:32 EDT Citadel reports 7.7% passive stake in Sutro Biopharma - Citadel Advisors disclosed a 7.7% stake in Sutro Biopharma, which represents over 1.7M shares. The filing with the SEC does not allow for activism.

09:28 EDT BrainStorm announces results from NurOwn Phase 2 trial - BrainStorm announced that their scientific abstract received the clinical abstract award at this year's Annual Northeast Amyotrophic Lateral Sclerosis, or NEALS, conference. To relate CSF miRNA changes to CSF biomarkers of apoptosis and innate immune activation in pre- and 2-weeks post-intrathecal transplantation of MSC-NTF cells in a NurOwn Phase 2 trial. The biomarker data demonstrated increases in miRNA 132 and miRNA 146a and statistically significant decreases in MCP-1, SDF-1, CHIT-1 and Caspase-3 levels in CSF following a single MSC-NTF cell transplantation in the NurOwn Phase 2 trial. The data presented suggests that miRNA secreted by MSC-NTF cells may contribute to CSF biomarker evidence of neuroprotection and immunomodulation. Additional miRNA evaluation and biomarker correlations will be examined in the ongoing NurOwn Phase 3 pivotal trial in ALS.

09:23 EDT Charles & Colvard announces jewelry availability on Amazon in Europe - Charles & Colvard (CTHR) announced the availability of Charles & Colvard moissanite jewelry on Amazon (AMZN) marketplaces in European countries, including Spain, Italy, France and Germany. The launch of these four marketplaces is part of the company's strategic initiative to target the global market opportunity through focused channel expansion and continued brand building. This European marketplace expansion builds on the company's success in driving online sales growth. In Q2, Charles & Colvard net sales from marketplaces increased 182%, led by 225% growth through Amazon, over the year-ago quarter.

09:22 EDT Super Micro Computer sinks after report of Chinese hardware attack - Shares of Super Micro Computer (SMCI) are plunging in pre-market trading after the company was mentioned as being implicated in a Chinese scheme to spy on American companies, including giants such as Amazon (AMZN) and Apple (AAPL). BLOOMBERG REPORT: A U.S. government probe, which still remains open, found that tiny microchips hidden on servers' motherboards allowed attackers to create a stealth doorway into any network that included the altered machines, Bloomberg reported. The investigators found that the chips had been inserted at factories run by manufacturing subcontractors in China, according to Bloomberg, citing multiple people familiar with the matter. The chips were first discovered in servers assembled for Elemental Technologies by Super Micro Computer Inc. (SMCI), the report noted. In a statement issued by the company following Bloomberg's report, Supermicro said in part: "While we would cooperate with any government investigation, we are not aware of any investigation regarding this topic nor have we been contacted by any government agency in this regard. We are not aware of any customer dropping Supermicro as a supplier for this type of issue...Furthermore, Supermicro doesn't design or manufacture networking chips or the associated firmware and we, as well as other leading server/storage companies, procure them from the same leading networking companies." PRICE ACTION: In pre-market trading, Super Micro Computers shares have fallen $4.39, or 20.5%, to $17.01 per share. Reference Link

09:17 EDT National commences legal action seeking to lift PROMESA litigation stay - National Public Finance Guarantee Corporation, an indirect subsidiary of MBIA (MBI) announced that National, Assured Guaranty (AGO), Assured Guaranty Municipal Corp., and Syncora Guarantee have filed a motion in the U.S. District Court for the District of Puerto Rico to lift the PROMESA litigation stay that will allow the Creditor Group to seek to enforce its right to compel the appointment of an independent receiver for the Puerto Rico Electric Power Authority. The Creditor Group filed a similar motion in July 2017 that was denied by the District Court. The new motion follows a successful appeal of that denial, as the First Circuit Court of Appeals recently vacated the District Court's decision and remanded the case for further proceedings. The appointment of a receiver, which would assume operational control of PREPA to protect the interests of PREPA's customers and creditors, is necessitated by the utility's well-documented history of mismanagement and undue political interference in its operations, the combined results of which were laid bare by Hurricanes Irma and Maria. Bondholders holding at least 25 percent in principal amount of the PREPA bonds outstanding have a statutory right to the appointment of a receiver following an event of default. The Creditor Group represents approximately 27 percent of the outstanding bonds.

09:14 EDT Adamas Pharmaceuticals publishes Phase 3 Gocovri data - Adamas Pharmaceuticals announced that pooled Phase 3 data of Gocovri extended release capsules were published online in Parkinsonism and Related Disorders. Results from pooled Phase 3 ADS-5102 clinical trials, concluded that dyskinesias in people with Parkinson's disease can impact a patient's activities of daily living, or ADLs, across multiple tasks and that treatment with Gocovri can help ameliorate the impairment. Gocovri is the first and only medicine approved by the FDA for the treatment of dyskinesia in patients with Parkinson's disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. It is also the only drug approved by the FDA to treat dyskinesia in people with Parkinson's disease on levodopa therapy, as well as demonstrate a secondary benefit in reducing off time in that population. In the pooled Phase 3 analysis, most adverse reactions were of mild to moderate intensity, and the most common adverse reactions were hallucination, dizziness, dry mouth, peripheral edema, constipation, falls, and orthostatic hypotension.

09:13 EDT GE Lighting converts Walmart shoppers to LED - GE Lighting (GE) has helped pave the way to shave 1.2 billion kWh of electricity use in consumer homes by converting Walmart (WMT) shoppers from traditional light bulbs to energy-efficient LEDs over the last two years. Not only has this shift supported Walmart's Project Gigaton, a Walmart supplier initiative aimed at reducing greenhouse gas emissions by one gigaton by 2030, the shift is also leaving a measured impact on consumer's energy expenses. LEDs use 70 to 90 percent less energy than traditional lighting options and last 15 to 25 times longer. GE Lighting encourages consumers to use October, Energy Action Month, as motivation to make the switch. To help, GE offers more than 100 energy-saving LED products at Walmart, including 36 ENERGY STAR LEDs, all $2 to $4 bulbs; ensuring consumers can make the switch to an ultra-efficient LED at every-day low prices.

09:10 EDT Fly Intel: Pre-market Movers - HIGHER: Hortonworks (HDP) and Cloudera (CLDR), up 16% each after announcing a merger of equals... Barnes & Nobles (BKS), up 21% after after announcing a formal strategic review process... Eli Lilly (LLY), up 3% after potential type 1 diabetes treatment meets primary endpoint in a trial... Sarepta (SRPT), up 3% after gene therapy showed functional improvements across all measures. UP AFTER EARNINGS: Constellation Brands (STZ), up 4%. Canopy Growth (CGC), in which Constellation holds a stake, is also up 1%. DOWN AFTER EARNINGS: Pier 1 Imports (PIR), down 9%... Synnex (SNX), down 2%. ALSO LOWER: Select Income REIT (SIR), down 3% after a 24.918M share spot secondary priced at $18.25 per share... Tilray (TLRY), down 6% after providing Q3 guidance and announcing a $400M offering of convertible senior notes... Monmouth Real Estate (MNR), down 8.5% after its 8M share spot secondary offering priced at $15.00 per share.

09:08 EDT MannKind presents Afrezza STAT study data at EASD - MannKind presented data from the STAT study at the 54th Annual Meeting of the European Association for the Study of Diabetes, or EASD. The STAT study is the first randomized, controlled study to assess diabetes control using continuous glucose monitoring, or CGM, and Afrezza in individuals with type 1 diabetes. The dual primary endpoints were an assessment of glucose time-in-range as well as post-prandial glucose excursions in the 1-4 hour post-meal period.

09:07 EDT ICF International acquires We are Vista, terms not disclosed - ICF announced that it has acquired We are Vista, a leading U.K.-based creative communications agency working to support the growth of global brands in the U.K., Europe and beyond. We are Vista will become a part of ICF's full marketing and communication team, which offer unique, broad expertise across the entire spectrum of marketing services, including strategic communications, advertising, digital engagement, public relations, loyalty, customer relationship management and brand management.

09:05 EDT Halozyme's PEGPH20 data featured in Clinical Cancer Research publication - Halozyme announced the publication of nonclinical data for PEGPH20 in Clinical Cancer Research, an American Association for Cancer Research journal. PEGPH20 is the PEGylated version of Halozyme's proprietary recombinant human hyaluronidase enzyme, rHuPH20. The paper demonstrates an association with increased collagen content, high tumor interstitial pressure, vascular collapse, hypoxia, drug resistance and increased metastatic potential. Treatment with PEGPH20 at the human equivalent dose degraded HA in the TME reversing these changes, and also depleted an important proangiogenic growth factor, VEGF-A165, suggesting that treatment with PEGPH20 may diminish the angiogenic potential of the TME. The accumulation of HA is common in many cancers, particularly in pancreatic cancer. A Phase 3 study evaluating the ability of PEGPH20 plus Abraxane and gemcitabine to increase Progression Free Survival and Overall Survival versus Abraxane and gemcitabine alone in metastatic pancreatic ductal adenocarcinoma patients, is under way.

09:04 EDT Campbell Soup sends letter to shareholders detailing actions to maximize value - Campbell Soup Company announced it has filed definitive proxy materials, including its definitive proxy statement and GOLD proxy card, with the U.S. Securities and Exchange Commission in connection with Campbell's 2018 Annual Meeting of Shareholders, scheduled for Nov. 29, 2018. Campbell shareholders of record as of the close of business on Oct. 9, 2018 will be entitled to vote at the Annual Meeting. The company said, "In addition to filing these proxy materials, Campbell sent a letter to its shareholders. In the letter, Campbell: Summarizes the results of its comprehensive Board-led strategy and portfolio review and the significant actions that are underway to focus Campbell's portfolio, improve performance and maximize shareholder value; Highlights the strength and experience of its directors and why it has the right Board to lead Campbell going forward; Highlights the strength of its new management team; and Discusses why Third Point's actions are not in shareholders' best interests and its proposed nominees lack the required skills and expertise to oversee a public company like Campbell and its iconic brands. Campbell strongly recommends that shareholders vote to support the current Campbell Board of Directors with a vote on the GOLD proxy card. In conjunction with the definitive proxy filing, Campbell the following letter to shareholders and launched www.CampbellsStrategy.com. These materials will be available at www.sec.gov. The website will be updated as additional information becomes available."

09:01 EDT Microsoft, Redline Communications announce partnership - Redline Communications and Microsoft announced a new partnership that will help address the rural broadband gap using TV White Space technology. Redline, a leader in private wireless networks, will provide its Virtual Fibera radio technology in the TV White Space band to Microsoft Airband Initiative partners. Together, Redline and Microsoft's partnership will help make broadband internet more affordable and accessible to unserved and underserved customers in rural areas in the United States and globally.

08:48 EDT Titan Medical achieves Q3 milestones for SPORT Surgical System - Titan Medical announced that the company has achieved all of its publicly stated Q3 development milestones for the SPORT Surgical System. It completed the improved camera insertion tube engineering confidence build. Titan Medical also completed design enhancements of both the surgeon workstation and patient cart in anticipation of system engineering confidence build by year-end. The company completed and demonstrated full suite of simulation training software for beta testing and filed three Q-submissions containing detailed protocols for animal, cadaver and human confirmatory studies for review by the FDA, approximately one year ahead of plan.

08:46 EDT Fluidigm enters into non-exclusive distribution agreement with DNA Software - Fluidigm announced that it has entered into a non-exclusive distribution agreement with DNA Software to provide CopyCount-CNV software for use with the Fluidigm Biomark HD system. Copy number variation, or CNV, plays a role in a number of complex human diseases and in drug metabolism. It occurs when the number of copies of a given gene or genomic region varies between individuals within a population. Biomark HD utilizes microfluidics technology to detect CNVs, with significant cost and time savings over traditional plate-based methods.

08:41 EDT Madison Square Garden files form 10 with SEC for potential spin-off - Madison Square Garden announced that it has made important progress towards the potential spin-off of its sports business by filing a confidential initial form 10 registration statement with the SEC. The proposed separation of the sports and entertainment businesses would enable investors to more clearly evaluate each company's assets and future potential, while providing both companies with increased strategic flexibility to pursue their own distinctive business plan and capital allocation policy. The proposed separation would be structured as a tax-free spin-off to all MSG shareholders. Upon completion of the transaction, record holders of MSG common stock would receive a pro-rata distribution, expected to be equivalent, in aggregate, to an approximately two-thirds economic interest in the pure-play sports company. The remaining common stock would be retained by the live entertainment company and is expected to be used to raise capital and/or exchange for the common stock of the entertainment company. The Dolan family would maintain majority voting control of both companies through their ownership of Class B shares. The proposed transaction is currently expected to be completed during the first half of calendar 2019, subject to certain conditions.

08:38 EDT iFresh to accept UnionPay - iFresh announced that UnionPay will be accepted iFresh stores across the United States. UnionPay cardholders will be able to pay with their smartphones at point-of-sale via the UnionPay mobile application. iFresh will provide UnionPay services online and in stores across the U.S. facilitated through a partnership with CITCON, a leading cross-border mobile payments and marketing solutions provider that helps connect merchants with Chinese mobile wallet users.

08:36 EDT Hertz names Tracy Gehlan as COO for Hertz International - Hertz Global Holdings announced that Tracy Gehlan has joined the company as COO for Hertz International. Reporting to Michel Taride, Group President, Hertz International, Gehlan is based at the car rental company's International headquarters near London, UK.

08:35 EDT GAIN Capital reports September operating metrics - In the retail segment in September, OTC Trading Volume was down 14.3% sequentially and down 26.2% y/y. OTC Average Daily Volume was down 1.3% sequentially and down 21.9% y/y. 12 Month Trailing Active OTC Accounts were up 0.2% sequentially and were down 3.5% y/y. 3 Month Trailing Active OTC Accounts were down 2.1% sequentially and down 13% y/y.

08:32 EDT ANI Pharmaceuticals launches authorized generic of Atacand HCT tablets - ANI Pharmaceuticals launched Candesartan Hydrochlorothiazide Tablets, an authorized generic of Atacand HCT. The current annual U.S. market for this product is approximately $20M.

08:26 EDT Oramed enrolls first patient in clinical study for oral insulin in NASH - Oramed has enrolled the first patient in an exploratory clinical study of its oral insulin capsule, ORMD-0801, in the treatment of nonalcoholic steatohepatitis, or NASH. The three-month treatment study will assess the effectiveness of ORMD-0801 in reducing liver fat content, inflammation and fibrosis in patients with NASH. Data from preclinical studies and clinical studies of ORMD-0801 demonstrate Oramed's oral insulin capsule has the potential to reduce inflammation of the liver.

08:16 EDT Varian Medical signs educational partnerships with Reliance Group in India - Varian announced it has signed an educational partnership with one of India's leading hospital groups to provide greater access to training in advanced radiotherapy and radiosurgery techniques. The Varian Advanced Clinical School will run courses at the Reliance Group's' Kokilaben Dhirubhai Ambani Hospital in Mumbai, where the region's first Varian Edge radiosurgery system was installed in 2016. In addition to the Clinical School, Varian and KDAH will be providing an advanced fellowship program for radiation therapy technologists, providing them with skills to implement high-end treatment modalities.

08:12 EDT Amag Pharmaceuticals to present data on Intrarosa at NAMS - Amag Pharmaceutical and Endoceutics announced an oral presentation regarding the effect of time since menopause, age, and previous hormone therapy on treatment efficacy of intravaginal 6.5 mg prasterone at the Annual Meeting of The North American Menopause Society, or NAMS. David Archer and colleagues analyzed combined data obtained from two prospective, randomized, double-blind, placebo-controlled clinical trials to evaluate the effect of daily intravaginal 6.5 mg Intrarosa administered for 12 weeks to women who identified moderate to severe pain at sexual activity as their most bothersome symptom, or MBS, of vulvar and vaginal atrophy, or VVA. The goal of the analysis was to assess the potential influence of time since menopause, age and previous hormone therapy on the response to treatment. Overall, there were 406 women treated with 6.5 mg Intrarosa and 234 women who received placebo. Women were divided into subgroups based upon time since menopause, age and if they had ever taken hormone therapy. While age and prior hormone therapy did not influence the overall efficacy of Intrarosa, the greatest reduction of dyspareunia had a tendency to be observed in women who were 1-2 years post menopause, compared to 3-5 years and more than 6 years post menopause, although the difference did not reach statistical significance.

08:07 EDT Global Blood Therapeutics to present three SCD abstracts at SCDAA - Global Blood Therapeutics announced that three abstracts related to its sickle cell disease, or SCD, development programs, including voxelotor, have been accepted for oral presentation during the annual National Sickle Cell Disease Association of America, or SCDAA.

08:07 EDT Teledyne awarded $7M IDIQ contract by NOAA - Teledyne Webb Research, a division of Teledyne Technologies, has received an indefinite delivery/indefinite quantity, or IDIQ, contract from the National Oceanic and Atmospheric Administration, or NOAA, for the provision of Slocum gliders, sensors, and service components. The award has a maximum value of $7M over five years, with an initial procurement in excess of $600,000. The U.S. Antarctic Marine Living Resources, or AMLR, Program of the NOAA Fisheries Service has conducted ship-based acoustic and oceanographic research surveys around the Antarctic Peninsula since 1986. Data collected from this Program are used to provide advice to the Convention for the Conservation of Antarctic Marine Living Resources, or CCAMLR, that establish catch limits for the Antarctic krill fishery. Climate changes have altered the distribution, intensity and timing of this important fishery over the last decade. The fishery season, for example, has expanded as both sea-ice extent and distribution have declined. This expansion leads to a potential negative impact on ecosystem health such as known areas of krill-dependent predators. In an effort to systematically provide ecological data at appropriate spatio-temporal scales, and over a longer sampling season, the U.S. AMLR Program has implemented a krill research program that will utilize an array of moorings and gliders around the Antarctic Peninsula. Data collected from this research will replace traditional ship-based surveys and will provide standardized spatial and temporal data to better understand the consequences of overlap among krill, predators, and the krill fishery, and provide other dynamic oceanic attributes of the study area. Along with arrays of moored ADCPs and CTDs, NOAA has developed a glider-based survey program. Teledyne Webb Research G3 electric Slocum gliders, equipped with Acoustic Zooplankton Fish Profilers, or AZFP, using three acoustic frequencies to record backscatter of krill biomass. This sampling Program will commence in October of 2018, and is expected to provide the framework for sustained ecosystem monitoring using autonomous platforms. This Indefinite Delivery Indefinite Quantity, or IDIQ, services contract will provide The U.S. AMLR Program with the ability to continue to build out its glider fleet, add additional science components and service the gliders.

08:06 EDT Tempur Sealy finalizes agreement on Danish tax dispute - Tempur Sealy has executed an agreement between the Company, the U.S. Internal Revenue Service and the Danish Tax Authority with respect to income tax assessments from SKAT for the disputed tax years 2001 to 2011. As discussed in the Company's periodic reports filed with the U.S. Securities and Exchange Commission, the Company had received significant income tax assessments from SKAT for prior tax years that the Company had disputed. The tax assessments related to the appropriate royalty rate to be paid to the Company's Danish subsidiary for the right to utilize certain intangible assets owned by the Danish subsidiary. The resolution reached in the three-party agreement is consistent with the Company's tax liability disclosed in its previously filed financial statements, which is significantly less than the amounts originally assessed by SKAT. The settlement will not have a material impact on the Company's financial position or liquidity as the Company maintains funds equal to the estimated Danish tax liability on deposit with SKAT. The Company's go forward effective tax rate is not expected to be materially impacted by the agreement. The Company is in the process of entering into negotiations with the U.S. Internal Revenue Service and SKAT to reach a mutual agreement with respect to the appropriate royalty rates for years after 2011. The outcome of these discussions is not expected to have a material impact on the Company's results of operations, liquidity or financial position.

08:04 EDT Establishment Labs transitions to direct sales force in Germany, Spain - Establishment Labs announced that it has entered into definitive asset purchase agreements with its German and Spanish exclusive distributors to acquire certain assets. Under the terms of the agreements, Menke Med and Motiva Matrix, respectively the exclusive distributors of Motiva in Germany and Spain, will transfer distribution arrangements to Establishment Labs. Establishment Labs will acquire all product inventory and customer relationships, effective November 26 in Germany and October 29 in Spain. The company currently sells products in more than 60 countries and employs a direct sales force strategy in a number of these markets, including Brazil, United Kingdom, France, Sweden, Denmark and Norway.

08:04 EDT BCE appoints Mirko Bibic as COO - BCE appointed Mirko Bibic as Chief Operating Officer for BCE and Bell Canada. Rizwan Jamal, President of Bell Residential and Small Business; Blaik Kirby, President of Bell Mobility; and Tom Little, President of Bell Business Markets report to Bibic in his role as COO. Bibic has been Executive Vice President of Corporate Development. Bell also appointed Wade Oosterman as Vice Chair of BCE and Bell Canada.

07:55 EDT Pain Therapeutics awarded $3.5M research grant from NIH for PTI-125 - Pain Therapeutics announced that it has been awarded an approximately $3.5M research grant from the National Institutes of Health, or NIH, to support a Phase II program with PTI-125, the company's drug candidate to treat Alzheimer's disease. The NIH's National Institute on Aging awarded the company this clinical research grant following an in-depth, peer-reviewed evaluation of PTI-125 for scientific and technical merit. The NIH grant award will enable the company to conduct clinical tests of PTI-125 in patients with Alzheimer's disease. In Q4, the company expects to initiate a Phase II study in Alzheimer's patients using PTI-125. In mid-2019, the company expects to initiate a second Phase II study in Alzheimer's patients using PTI-125.

07:55 EDT CPLG to join forces with Pullman Licensing to expand in Russia, CIS and Baltics - CPLG is further extending its international footprint by agreeing to acquire a 49% share in Pullman Licensing, a leading Russian licensing agency owned by Igor Kuleshov, President and owner of Gulliver Holdings, one of Russia's premier toy and clothing manufacturers and distributors. CPLG and Pullman are expected to collaborate on the overall management and operations, utilizing CPLG's international industry knowledge and expertise and Pullman's local strength in the market. Pullman will maintain the existing staff in their Moscow office and look to expand the existing portfolio of rights. Pullman's current portfolio includes Nickelodeon, Paramount, ROI Visual and Emoji across Russia, the Commonwealth of Independent States, and the Baltics. The venture, to be named CPLG Pullman, will also represent certain of CPLG's portfolio, including Line Friends, one of the fastest growing global character brands, and Archie Comics, with further representation to be announced shortly. CPLG is owned by DHX Media.

07:48 EDT GM's Cadillac beat Tesla in CR's ranking of automated driving systems - GM's (GM) Cadillac beat Tesla (TSLA) in ranking of automated driving systems, according to Consumer Reports. The report said Cadillac's Super Cruise does the best job of monitoring if a driver is paying attention when they take their hands off the steering wheel. In CR's rankings, Tesla's Autopilot came in second, followed by Nissan (NSANY)/Infiniti's ProPilot Assist and then Volvo's (VOLVY) Pilot Assist system. Autopilot scored highly for its capabilities and ease of use, while Nissan's system was better at keeping drivers engaged. Volvo scored comparatively lower. Reference Link

07:38 EDT Flowserve expands board to 11 directors - Flowserve announced that its board of directors has elected John Garrison, Jr. and Michael McMurray as independent directors, effective immediately. With the addition of Garrison and McMurray, the Flowserve board expands to eleven directors.

07:38 EDT Ophthotech completes patient recruitment for Phase 2b clinical trial of Zimura - Ophthotech announced completion of patient recruitment for its Phase 2b clinical trial of Zimura, the company's complement factor C5 inhibitor, monotherapy in patients with geographic atrophy secondary to dry age-related macular degeneration, or AMD. Complement factor C5 is a central component of the complement cascade and is believed to be involved in the development and progression of AMD. A total of 286 patients have been enrolled into this randomized, double-masked, sham controlled multi-center clinical trial. This clinical trial is designed to assess the safety and efficacy of various Zimura dosing regimens over 12 months. Patients will continue to be treated and monitored until month 18.

07:37 EDT Canadian Pacific sets financial targets for 2018-2020 - Sees: Volume compound annual growth rate of mid-single digits, measured in Revenue Ton-Miles; Double-digit CAGR in adjusted diluted EPS; Continued margin improvement through cost control and operating leverage; Capital expenditures of approximately $1.6B per year. Key assumptions for 2018-2020 targets: Exchange rate of 1.30 CAD/USD; On-Highway Diesel price of $3.20 USD/US gallon; Pension income consistent with 2018; Annualized effective tax rate of approximately 25%, excluding discrete items such as foreign-exchange gains or losses on U.S. dollar-denominated debt and any effects of changes in tax rates.

07:35 EDT Siga Technologies enters into CRADA with USAMRIID for TPOXX - SIGA Technologies announced that it has entered into a Cooperative Research and Development Agreement with the United States Army Medical Research Institute of Infectious Diseases. This CRADA will focus on Good Laboratory Practice studies of TPOXX for post-exposure prophylaxis using a U.S. Food and Drug Administration-approved non-human primate model of TPOXX efficacy against smallpox infection. PEP regimens are designed to prevent infection in individuals who have known or potential exposure to an infectious agent but are not symptomatic. Such regimens have been used successfully to reduce the impact of other infections. The FDA has already approved the oral formulation TPOXX for the treatment of smallpox, and its use in the PEP setting could provide significant potential benefit in the event of an outbreak.

07:34 EDT Cummins, Isuzu Motors sign LOI to evaluate partnership opportunities - Cummins (CMI) and Isuzu Motors (ISUZY) announced that they have signed a Letter of Intent to jointly evaluate opportunities to deliver globally competitive products. Each company has committed to assign a team of individuals over the next few months to explore potential opportunities in product technology development, service and other areas of collaboration with the potential for a longer-term partnership for the next generation of diesel and natural gas based internal combustion powertrains as well as new powertrain technologies such as electrification. Diesel engines will continue to be the power leader for the foreseeable future in commercial vehicle and off-highway markets. A long-term partnership would enable both companies to grow globally.

07:30 EDT Canadian Pacific raises FY18 guidance

07:13 EDT Chimerix study shows correlation of Adv burden, allo-HCT recipients mortality - Chimerix announced the full analysis of adenovirus, or AdV, viral load dynamics and all-cause mortality in pediatric patients. These data from the AdVance study, the first large, multi-center study of AdV incidence, natural history, management and clinical outcomes in allogeneic hematopoietic cell transplant, or allo-HCT, recipients will be presented at IDWeek. Prior to the AdVance study, the epidemiology of AdV after allo-HCT has been generally understood via single-center studies, with little data on the correlation between AdV viral load and risk of mortality. Historically, acceptance of virologic endpoints as surrogates for clinical outcomes such as survival have been important in progressing antiviral development in other viral diseases.

07:08 EDT Akoustis delivers first RF BAW filter order, receives second order for AKF-1938 - Akoustis announced the company shipped its first XBAW RF filter products and recorded product revenue during the September quarter, in-line with earlier expectations. Pre-production orders for the company's new 3.8 GHz high frequency AKF-1938 RF filter have been delivered. Akoustis has received a second production order from the customer for delivery before the end of 2018. The customer, an OEM with over $1B in annual revenues, specializes in non-mobile communication systems including phased-array radar solutions and high-performance RF transceivers.

07:05 EDT Zafgen to present data from multiple ZGN-1258 studies at FPWR - Zafgen announced results from three nonclinical, investigational new drug, or IND, -enabling studies of ZGN-1258 to be presented at the Foundation for Prader-Willi Research, or FPWR. ZGN-1258 is Zafgen's second-generation, novel investigational MetAP2 inhibitor for the treatment of rare metabolic disorders, including Prader-Willi syndrome, or PWS, designed to decrease hyperphagia, change the way the body metabolizes fat, and reduce fat mass. Together, these studies demonstrate nonclinical efficacy and safety for ZGN-1258 and support further development. In one poster, the effects of ZGN-1258 are characterized in mouse models of hyperphagia and obesity. In a second poster, in three mouse models that share features with PWS, ZGN-1258 demonstrates improvement in behavioral manifestations commonly observed in PWS, including low physical activity, anxiety and obsessive-compulsive behaviors. A third poster shows a comparison of the effects of ZGN-1258 and Zafgen's first generation MetAP2 inhibitor on safety measures, including measures of thrombotic risk, demonstrating a highly differentiated profile for ZGN-1258 on endothelial cell effects.

07:04 EDT Alnylam reports updated 'positive' results from Phase 1/2 study of lumasiran - Alnylam Pharmaceuticals announced updated positive results from its Phase 1/2 clinical study of lumasiran, an investigational, subcutaneously administered RNAi therapeutic targeting glycolate oxidase for the treatment of primary hyperoxaluria type 1. The company also announced the initiation of ILLUMINATE-A, a global Phase 3 pivotal trial of lumasiran in children and adults with PH1. The study will enroll approximately 30 patients and is designed in alignment with FDA with a primary endpoint based on reduction of urinary oxalate at six months. Alnylam expects to report topline results from ILLUMINATE-A in late 2019 and, if positive, submit filings for regulatory approval starting in early 2020. New results from the Phase 1/2 study were as of a data cut-off date of August 15, 2018. Lumasiran demonstrated a mean maximal reduction in urinary oxalate of 75 percent relative to baseline across cohorts dosed at 1 mg/kg monthly or 3 mg/kg monthly or quarterly. The mean reduction relative to baseline was 66 percent when measured 28 days post last dose. All patients achieved oxalate lowering to less than 1.5 times the upper limit of normal. Among patients receiving 3 mg/kg monthly or quarterly doses of lumasiran, 83 percent achieved urinary oxalate levels within the normal range. Furthermore, lumasiran-treated patients in all cohorts experienced a mean maximal decrease of 76 percent in the ratio of urinary oxalate to creatinine - a corroborative measure of oxalate reduction that addresses the variability that is inherent to 24 hour urine collections. The Phase 1/2 safety results in patients with PH1 were based on a median study duration of seven months since first dose. As of the data cut-off date, there were no discontinuations from study treatment. Serious adverse events were reported for one patient receiving placebo and five patients receiving lumasiran; none were related to study drug. The placebo patient experienced acute pyelonephritis and kidney stones. The lumasiran patients with SAEs included one patient with vomiting, one patient with abdominal pain, fever and vomiting, one patient with gastroenteritis, and two patients with kidney stones. Adverse events were reported in three patients during placebo dosing and 19 patients after lumasiran dosing. The majority of AEs were mild or moderate in severity and were assessed as unrelated to study drug. Injection site reactions were reported in three patients receiving lumasiran. ISRs were mild or moderate in severity and were self-limiting. Lumasiran was not associated with any clinically significant adverse laboratory findings. In patients receiving lumasiran, plasma glycolate levels increased consistent with the pharmacology of lumasiran and results from healthy volunteers in Part A of the Phase 1/2 study. This increase was not associated with any safety findings.

07:00 EDT Interpace Diagnostics signs agreement with Georgia's Piedmont Healthcare - Interpace Diagnostics has entered in to an agreement with Piedmont Healthcare, Georgia's largest healthcare system serving 2 million patients annually. The agreement enables all physicians across the Piedmont Healthcare Network to use PancraGEN for patients with indeterminate pancreatic cysts or other pancreaticobiliary lesions. The company recently expanded the applications for PancraGEN to include biliary strictures and solid lesions as well as the publication of several peer-reviewed papers and updated guidelines that support the utility of molecular markers in identifying pancreatic cancer.

06:50 EDT Sarepta gene therapy showed functional improvements across all measures - Sarepta Therapeutics announced yesterday that at the 23rd International Congress of the World Muscle Society in Mendoza, Argentina, Jerry Mendell, M.D., of Nationwide Children's Hospital presented updated results from its gene therapy clinical trial assessing AAVrh74.MHCK7.micro-Dystrophin in individuals with Duchenne muscular dystrophy. Dr. Mendell presented the following updated data on the four patients enrolled in the study: All patients showed robust expression of transduced micro-dystrophin, which is properly localized to the muscle sarcolemma, as measured by immunohistochemistry. Mean gene expression for the study, as measured by percentage of micro-dystrophin positive fibers was 81.2% and the mean intensity of the fibers was 96.0% compared to normal control. All post-treatment biopsies showed robust levels of micro-dystrophin as measured by Western blot, with a mean of 74.3% compared to normal utilizing Sarepta's method, or 95.8% compared to normal pursuant to Nationwide Children's quantification of Sarepta's method that adjusts for fat and fibrotic tissue. Gene expression for the fourth patient was robust, as follows: As measured by immunohistochemistry, micro-dystrophin positive fibers was 96.2% and the mean intensity of the fibers was 160.0% compared to normal control. As measured by Western blot, patient 4 showed robust levels of micro-dystrophin, with a mean of 182.7% compared to normal utilizing Sarepta's method, or 222% compared to normal pursuant to Nationwide Children's quantification of Sarepta's method that adjusts for fat and fibrotic tissue. In all patients, expression of micro-dystrophin was associated with significant expression and up-regulation of the dystrophin-associated protein complex, an additional indication of functionality of dystrophin. All patients showed significant decreases of serum creatine kinase levels at last measure, with a mean reduction of CK of over 78% from baseline. Doug Ingram, Sarepta's president and CEO, said, "The encouraging results that we previously saw and reinforced in the fourth patient strengthen our resolve to rapidly move to a confirming trial and, assuming successful, to bring this therapy to the Duchenne community around the world with a sense of urgency."

06:36 EDT Boehringer Ingelheim, Eli Lilly announce empagliflozin meets primary endpoint - Boehringer Ingelheim and Eli Lilly announced that empagliflozin met the primary efficacy endpoint, defined as a change from baseline in A1C versus placebo after 26 weeks of treatment, for all doses investigated in the Empagliflozin as Adjunctive to inSulin thErapy, or EASE, Phase III program in adults with type 1 diabetes. The EASE program results were published online in Diabetes Care ahead of print and presented at the 54th EASD Annual Congress. Empagliflozin is currently not approved for use in type 1 diabetes. The EASE-2 study evaluated doses of 10 and 25 mg of empagliflozin as an adjunct to insulin over 52 weeks, while the EASE-3 study evaluated doses of 2.5, 10, and 25 mg of empagliflozin as an adjunct to insulin over 26 weeks. In EASE-2, placebo-corrected mean change from baseline in A1C at week 26 was -0.54% and -0.53% for empagliflozin 10 and 25 mg, respectively. In EASE-3, placebo-corrected mean change from baseline in A1C at week 26 was -0.28%, -0.45% and -0.52% for empagliflozin 2.5 mg, 10 mg and 25 mg, respectively. In addition to reduction in A1C, empagliflozin treatment was effective on secondary endpoints, showing reductions in weight, decreases in blood pressure, and decreases in total daily insulin dose. In addition, data from continuous glucose monitoring in the EASE program indicates that patients treated with empagliflozin had improved glycemic variability and spent more time in range, although the data for the 2.5 mg dose are limited.There was no increase in the risk of investigator-reported hypoglycemic events, including severe hypoglycemia, with empagliflozin treatment, which was a key secondary endpoint in the trials. Additionally, a reduction in patient-reported hypoglycemic events was observed. The number of adjudicated diabetic ketoacidosis, or DKA, events was comparable between empagliflozin 2.5 mg and placebo, and higher than placebo with empagliflozin 10 and 25 mg. Apart from incidence of DKA, the safety profile observed in the EASE program was generally consistent with the previously reported safety profile of empagliflozin in adults with type 2 diabetes. Based on the totality of the EASE data, Boehringer Ingelheim has initiated regulatory discussions for empagliflozin as adjunct to insulin for adults with type 1 diabetes.

06:33 EDT Wi-LAN subsidiary signs license agreement with ESMT - Wi-LAN, a Quarterhill company, announced that WiLAN's wholly-owned subsidiary, Polaris Innovations, has granted a term license for certain patents owned by Polaris to Elite Semiconductor Memory Technology. The licensed patents relate to technology used in Dynamic Random Access Memory, or DRAM, semiconductor devices. ESMT is a Taiwanese IC Design company offering DRAM, Flash, Mixed Signal and System Integrated Circuit products. The consideration paid by ESMT to Polaris and all other terms of the license agreement are confidential.

06:15 EDT Juul Labs files complaint with ITC against copycat products - Juul Labs announced that it has filed a complaint with the United States International Trade Commission alleging that multiple entities infringe the claims of several of Juul Labs' patents, and requesting the ITC prevent the continued importation, distribution, selling, and marketing of the identified products in the United States. The ITC action is part of Juul Labs' global efforts to defend the company's intellectual property from infringers, and also serves an important role in the company's effort to combat illegal underage use of Electronic Nicotine Delivery System products. The ITC complaint alleges that over 15 entities, based in China, the United States, and France, blatantly develop and sell products based on Juul Labs' patented technology. Juul Labs has begun a similar action in the United Kingdom. As indicated in the ITC Complaint, whereas Juul Labs implements strict manufacturing and quality controls during the manufacturing of its products, little is known about how most of the accused devices are manufactured. Similarly, whereas Juul Labs applies strict age-gating when selling its products through its website, many of the accused products appear to be sold with little or no real age-verification processes. Notably, in contrast to Juul's products, many of the accused copy-cat products include inappropriate flavors, seemingly directed to attract underage users - flavors like "Bubble Bubble," "Apple Juice" and "Sour Gummy." The ITC complaint follows Juul Labs' August trademark filing against 30 counterfeiters who were selling counterfeit products through the internet with no age verification. In addition, since 2018, Juul has worked to remove more than 17,000 improper listings from online marketplaces, including eBay (EBAY) and Amazon (AMZN). Publicly traded companies in the tobacco space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM).

06:07 EDT Bombardier signs $229M contract with Siemens - Bombardier Transportation (BDRBF) will continue to make an important contribution to the expansion of Deutsche Bahn's ICE 4 fleet as a Siemens' (SIEGY) partner and supplier. At the end of September, Bombardier signed a contract with Siemens for further cooperation as a supplier for Deutsche Bahn's new order for 18 7-car ICE 4 trains and 50 powered cars. The contract is valued at approximately $229M. Bombardier's scope represents around one third of the overall project. The new order is part of a framework agreement for the development and supply of key components for up to 300 ICE 4 high-speed trains for Deutsche Bahn, which was signed with Siemens in 2011. Bombardier is responsible for the exterior design, the production and design of the steel car bodies, the delivery of the trailer bogies and around 30 percent of the final assembly of the entire ICE 4 fleet.

06:05 EDT Toyota, SoftBank agree on partnership to establish JV for new mobility services - Toyota (TM) and SoftBank (SFTBF) have agreed to form a strategic partnership to facilitate the creation of new mobility services, and plan to establish a joint venture company, MONET Technologies Corporation, before the end of the 2018 fiscal year. The objective of MONET is to help realize a safer and more comfortable mobility society by combining SoftBank's corporate philosophy, "Information Revolution - Happiness for everyone," with Toyota's vision of "Mobility for All." MONET will provide coordination between Toyota's Mobility Services Platform, Toyota's information infrastructure for connected vehicles, and SoftBank's Internet of Things Platform, which was built to create new value from the collection and analysis of data acquired from smartphones and sensor devices. For the first phase, MONET plans to roll out just-in-time vehicle dispatch services for local public agencies and private companies throughout Japan. These services, which will include on-demand transportation through regional partnerships and corporate shuttles, will be provided in tune with user demand. By the second half of the 2020s, MONET plans to roll out Autono-MaaS*1 (autonomous mobility as a service) businesses using e-Palette, Toyota's dedicated battery electric vehicle for mobility services that can be used for various purposes, including mobility, logistics, and sales. Possibilities include demand-focused just-in-time mobility services, such as meal deliveries vehicle where food is prepared while on the move, hospital shuttles where onboard medical examinations can be performed, mobile offices, and many more. MONET also intends to roll out these businesses in Japan with an eye to future expansion on the global market. Reference Link

06:01 EDT Blackstone to acquire Clarus

05:38 EDT Mercer to acquire Daishowa-Marubeni International for $359.2M - Mercer International announced that it has entered into an agreement with Marubeni Corporation, Nippon Paper Industries Co., Ltd., and Daishowa North America Corporation to acquire all of the issued and outstanding shares of DMI for consideration of $359.2 million, which includes minimum working capital of $85.7 million. DMI owns 100% of a bleached kraft pulp mill in Peace River, Alberta and has a 50% interest in the Cariboo Pulp and Paper Company, or CPP, a joint venture which operates a bleached kraft pulp mill in Quesnel, British Columbia. As a result of this transaction, Mercer's annual production capacity for pulp will increase by approximately 41% to 2.2 million ADMTs, and surplus energy will increase by approximately 8% to 890,000 MWhs. Further, the acquisition of DMI will add NBHK pulp to Mercer's current product mix as well as provide the Company with an expanded market presence in Asia. DMI also holds 20-year term renewable governmental Forest Management Agreements and Deciduous Timber Allocations in Alberta with an Annual Allowable Cut, or AAC, of approximately 2.4 million cubic meters of hardwood and 400,000 cubic meters of softwood. The transaction is subject to customary closing conditions, including receipt of requisite regulatory anti-trust approvals. In connection therewith, Mercer has arranged a fully committed financing in the amount of $350 million to finance the acquisition. The transaction is expected to close in the fourth quarter of 2018.

05:33 EDT Celyad announces exclusive agreement for Horizon Discovery shRNA platform - Celyad announced an exclusive agreement with Horizon Discovery Group, for the use of its shRNA technology to generate Celyad's second non-gene-edited allogeneic platform. Celyad recently announced its first-in-class non-gene edited allogeneic CAR-T candidate, CYAD-101 a non-gene-edited allogeneic NKG2D-based CAR using the TIM. As a result of the agreement with Horizon Discovery, Celyad now also has access to a novel shRNA-based platform.

05:15 EDT BlackBerry, Android, PLDT Enterprise enter partnership for MiCab app - BlackBerry (BB) announced it is expanding its partnerships with Android (GOOG, GOOGL) and PLDT Enterprise, through Smart Communications Inc. to provide MiCab, an online taxi-hailing platform, with an integrated, secure enterprise cloud solution that maintains data privacy, meets compliance and accelerates service delivery. The solution combines the ease-of-management and gold-standard security of BlackBerry Unified End-Point Management, with the flexible, customizable nature of Android Enterprise and network connectivity and devices from Smart. Together, the partners are enabling 'mobile-first' company MiCab to securely manage and connect thousands of drivers with millions of passengers via a fleet of tablet devices. In addition, BlackBerry is providing professional cybersecurity consulting services to MiCab.