Stockwinners Market Radar for October 05, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:03 EDT Celanese increases prices on certain acetyl intermediates products - The price increases are for orders shipped and will be effective immediately, or as contracts otherwise allow, and are incremental to any previously announced increases. Celanese is raising prices on Acetic Acid by $60/MT, and on Vinyl Acetate Monomer, Acetic Anhydride, Butyl Acetate, and Ethyl Acetate by $50/MT.

17:49 EDT PSAM files presentation opposing proposed DVMT transaction - P. Schoenfeld Asset Management, a registered investment adviser that advises clients who own more than $150M of shares of Dell Technologies (DVMT) Class V Common Stock, released a presentation opposing the proposed conversion of the DVMT shares into publicly traded Class C Common Stock and cash and the elimination of the tracking stock on the terms currently proposed by Dell. PSAM also released a letter that it delivered to the Dell Board of Directors on September 27 outlining its reasons behind its opposition of the DVMT Transaction. As outlined in the presentation, PSAM strongly believes that the path to maximize value for both Dell and DVMT holders can only come in the form of a deal that is equitable to both sides and intends to vote against the currently proposed transaction. Specifically, the presentation filed today outlines PSAM's rationale, including: The current targeted offer price of $109 per share of DVMT represents too wide of a discount to the underlying value of VMware and does not deliver compensation to DVMT holders commensurate with their contribution to the newly formed Dell. PSAM believes at least a 20% improvement to the consideration would narrow the discount to 17% or lower and would be fair to both sides; Dell's Class A, B and C shares would incur much greater dilution if they pursued an IPO without first buying in DVMT. Collapsing the tracker structure and buying in the DVMT class is essential for the future of Dell Technologies. An IPO of Class C without a negotiated outcome for DVMT is not a viable path and does not address the terms of the DVMT buy in and defers it to a later date. As such, it is NOT in the best interest of Dell and would actually leave DVMT holders owning a larger stake in the restructured entity than under the current proposed deal. An improved equity ratio, additional cash, CVR structures and warrants are all alternatives which could be utilized to reduce or eliminate DVMT's discount to the underlying VMware (VMW) price.

17:34 EDT Akcea and Ionis receive FDA approval of TEGSEDI - Akcea Therapeutics (AKCA) and Ionis Pharmaceuticals (IONS), announced that the U.S. Food and Drug Administration has approved TEGSEDITM (inotersen) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults. TEGSEDI is now approved in the U.S., European Union and Canada. In hATTR amyloidosis, transthyretin (TTR) protein misfolds and accumulates as amyloid deposits throughout the body. TEGSEDI targets the disease at its source by reducing the production of TTR protein. In the NEURO-TTR study, treatment with TEGSEDI produced up to a 79% mean decrease from baseline in serum TTR protein in patients regardless of TTR mutation, sex, age, or race. The FDA's approval of TEGSEDI was based on results from the Phase 3 NEURO-TTR study in patients with hATTR amyloidosis with symptoms of polyneuropathy. Results from that study demonstrated that patients treated with TEGSEDI experienced significant benefit compared to patients treated with placebo across both co-primary endpoints: the Norfolk Quality of Life Questionnaire-Diabetic Neuropathy (Norfolk QoL-DN) and modified Neuropathy Impairment Score +7 (mNIS+7), a measure of neuropathic disease progression.

17:15 EDT Park West AM reports 6.4% passive stake in Landcadia

17:12 EDT Integrated Core Strategies reports 3.1% passive stake in Fortive

17:09 EDT General Dynamics awarded $366.85M government contract - General Dynamics Land Systems, Sterling Heights, Michigan, was awarded a $366,852,050 modification to contract W56HZV-17-D-B020 for upgrade of Stryker flat-bottom vehicles to the Double V-Hull Engineering Change Proposal 1 configuration. Work will be performed in Sterling Heights, Michigan, with an estimated completion date of April 30, 2021. Fiscal 2018 and 2019 procurement of weapons and tracked vehicle funds in the amount of $366,852,050 were obligated at the time of the award. U.S. Army Contracting Command, Warren, Michigan, is the contracting activity.

17:06 EDT Nuverra Environmental acquires Clearwater Solutions for $41.9M - Nuverra Environmental Solutions announced it has acquired Clearwater Solutions, a leading operator of saltwater disposal wells in the Marcellus and Utica Shale areas, for $41.9M, subject to customary purchase price adjustments. This purchase more than doubles Nuverra's SWD capacity in the region and will add value for each of its customers with more strategically located disposal capacity. Clearwater's disposal wells at the Clearwater Three and Clearwater Five locations offer several offloading lanes and disposal capacity of 17,500 barrels per day. Its locations are in Guernsey County, Ohio, which is in the heart of the regional oil and gas activity. In connection with this transaction, Nuverra's two largest shareholders have provided financing of $32.5M in the form of a bridge loan that will be repaid with proceeds from a planned offering to shareholders of common stock purchase rights. The rights offering will be made available to all shareholders on a pro rata basis and bridge loan lenders have committed to purchase the shares underlying any rights that are not exercised by other holders. In addition, the Company amended its first lien term loan to extend its maturity and received an additional $10M of term loan proceeds that funded a portion of the Clearwater purchase price and made various other modifications to give the Company additional flexibility.

16:32 EDT Pyxis Tankers announces receipt of Nasdaq bid price deficiency notice - Pyxis Tankers announced that it received a deficiency notice from The Nasdaq Stock Market on September 6, 2018 stating that, for a period of 30 consecutive business days, our shares closed below the minimum bid price of $1.00 per share as required for continued listing on The Nasdaq Capital Market. In accordance with the notice, we will have until March 5, 2019, or 180 calendar days from the date of the notice, to regain compliance with the exchange's continued listing requirements regarding the minimum closing bid price rule. On September 7, 2018, the company filed with the SEC a similar notice under Form 6-K. "We are currently reviewing options to meet the requirements for continued listing on The NASDAQ Capital Market. This notice will have no effect on the operations of our business, and we will take all reasonable measures to regain compliance with the exchange."

16:29 EDT Stadium Capital Management reports 6.0% passive stake in Town Sports

16:18 EDT Two Harbors CFO Brad Farrell to resign - Two Harbors Investment announced Brad Farrell's intention to resign from his position as Vice President, Chief Financial Officer and Treasurer in order to pursue other opportunities. Mr. Farrell's resignation is not the result of any disagreement with respect to any matter relating to the operations, financial reporting, policies or practices of Two Harbors or Pine River. Mr. Farrell has agreed to stay on with the company through January 31, 2019 to assist in the transition of his duties and responsibilities. Effective immediately, the board has appointed Mary Riskey to serve as Vice President, Acting Chief Financial Officer and Treasurer, in which role Ms. Riskey will assume the day-to-day duties and responsibilities of the chief financial officer. The Board of Directors intends to appoint Ms. Riskey as Vice President, Chief Financial Officer and Treasurer upon the effectiveness of Mr. Farrell's resignation.

16:14 EDT Teamsters call on Rite Aid shareholders to vote against Say-on-Pay - The International Brotherhood of Teamsters called on fellow Rite Aid (RAD) shareholders to vote against the company's "Say-on-Pay" proposal at the upcoming annual shareholder meeting and reject windfall payouts to executives following two failed merger attempts. The vote comes less than three months after Rite Aid was forced to terminate its merger agreement with Albertsons Companies, Inc. amid widespread investor opposition to the deal, and sixteen months since the collapse of the proposed Walgreen Boots Alliance Inc., (WBA) merger. In a letter to shareholders, the Teamsters took the pharmacy chain to task for paying lucrative retention bonuses to top executives tied to the failed mergers. Calling it one of the most perverse awards imaginable, the Teamsters blasted the agreement to pay CEO John Standley a $3 million bonus if the Albertsons deal did not go through - an award that was duly paid when the merger collapsed on the eve of the planned shareholder vote in early August. The labor union, whose members' pension and benefit funds hold over $100 billion in the capital markets, including significant Rite Aid holdings, similarly challenged the Compensation Committee's decision to use its discretion to pay retention awards to executives that would have otherwise only been payable if the Walgreens merger had been completed.

16:05 EDT Quest Diagnostics to sell India medical diagnostics business to Strand - Quest Diagnostics announced an agreement to sell its India medical diagnostics business to Strand Life Sciences, a Bangalore-based specialized diagnostics company. The two companies will work together to manage the transition, and aim to close the sale by the end of Q1 of 2019. Terms of this transaction were not disclosed.

16:02 EDT Convergys trading resumes

16:02 EDT Rambus renews patent license with Nvidia, terms confidential - Rambus (RMBS) announced it has renewed a patent license agreement with Nvidia (NVDA). The agreement allows Nvidia's use of innovations in the Rambus patent portfolio, including those covering memory controllers and serial links. Specific terms of the agreement are confidential.

15:39 EDT Akcea Therapeutics trading halted, news pending

15:32 EDT Civitas Solutions jumps after said to be exploring alternatives - Shares of Civitas Solutions are rising in late day trading after Reuters reported that the company is working with an investment bank to explore strategic alternatives, including a potential sale. Civitas shares are up 15.5% to $16.81 following the report.

14:25 EDT Orin Hirschman reports 5.45% passive stake in AMSC

13:39 EDT AstraZeneca reports 16.6% stake in Entasis Therapeutics

13:16 EDT Cal-Maine Foods names Max Bowman CFO, replacing Tim Dawson - Cal-Maine Foods announced that Max P. Bowman has been named VP and CFO, effective October 5. Bowman was also elected to the company's Board of Directors at the annual meeting of shareholders held today in Jackson. Bowman will replace Tim Dawson, whose planned retirement from the company was effective today.

13:01 EDT Einhorn's Greenlight exits Apple, buys Altice USA and BT Group - David Einhorn's Greenlight Capital sold the last of its Apple (AAPL) long position on August 31 at a price of $228 per share, the firm announced in its quarterly letter sent to investors, a copy of which was obtained by The Fly. Greenlight says it's "differentiated thesis" from 2011 on Apple has now "become consensus" and that the company's current valuation is "much less enticing." Einhorn, who acknowledged in the letter to investors that the fund had "another difficult quarter" and lost an additional 9.1% to bring its year-to-date loss to 25.7%, also discussed the "many parallels" he sees between Tesla (TSLA) and Lehman Brothers, stating that he thinks that "like Lehman...the deception is about to catch up to TSLA." In the letter Greenlight tells investors that it added "two medium sized long positions" in shares of Altice USA (ATUS) and BT Group (BT). The firm also exited several positions during the quarter, including short positions on Martin Marietta (MLM) and TransDigm (TDG) and long positions in Micron (MU) and Mylan (MYL).

12:29 EDT Susquehanna Securities reports 6.5% passive stake in MercadoLibre

12:00 EDT Delphi Technologies falls -11.4% - Delphi Technologies is down -11.4%, or -$3.40 to $26.46.

12:00 EDT Morgan Stanley Emerging Markets rises 11.4% - Morgan Stanley Emerging Markets is up 11.4%, or $1.71 to $16.71.

12:00 EDT Pyxus rises 12.0% - Pyxus is up 12.0%, or $2.91 to $27.15.

11:34 EDT Salesforce signs definitive agreement to acquire Rebel - In an announcement on its website, Rebel said, "Today we are thrilled to announce that Salesforce, the global CRM leader, has signed a definitive agreement to acquire Rebel. We are excited to join Salesforce and accelerate our mission of reimagining the inbox by enabling marketers and developers to create beautiful, seamless, interactive email experiences. With Rebel's Mail and API solutions, brands...turn emails into an extension of their website or app - collecting data, removing friction from the conversion process, and enhancing the customer experience. Rebel will enhance the power of Salesforce Marketing Cloud and fundamentally change the way people interact with email. We would like to thank the email community, the forward thinking brands we have worked with over the years, our partners, and everyone that has been part of Rebel's success. We are thrilled to become part of the amazing Salesforce family and continue the journey." Reference Link

11:28 EDT Box Office Battle: Openings of 'Venom,' 'A Star Is Born' kick off October - This weekend's two major releases, which are expected to take the box office's top two spots, are Sony's (SNE) "Venom," and AT&T (T) subsidiary Warner Bros' "A Star is Born." Comic book adaptation "Venom," starring Tom Hardy as the titular character, already made over $10M in Thursday night previews, but it is unclear if the largely negative buzz surrounding the film will effect the three-day weekend total. Estimates range from $50M-$70M for how it will finish its first weekend at theaters. On the other hand, musical drama "A Star is Born," starring Lady Gaga and Bradley Cooper, has received strongly positive reviews and could outperform tracking expectations. Box Office Mojo expects the film to debut in the range of $38M-$40M, and play well into awards season. Warner Bros' animated family film "Smallfoot" is expected to earn an additional $15M in its second weekend at theaters, while Comcast (CMCSA, CMCSK) subsidiary Universal's comedy "Night School," starring Kevin Hart, is expected to add another $14M in its second weekend. Other publicly traded companies in filmmaking include 21st Century Fox (FOX, FOXA), Disney (DIS), Lionsgate (LGF.A, LGF.B), and Viacom (VIA, VIAB).

11:12 EDT CVI Investments reports 9.9% passive stake in Altimmune

11:09 EDT Survey shows 'Call of Duty,' 'Red Dead 2' most anticipated upcoming games - Shares of the "big three" game publishers are in focus after Piper Jaffray analyst Michael Olson issued a research note to investors discussing the "critical" pre-holiday window for game releases, which is imminent. GAMER SURVEY: In an effort to gauge interest in the crowded holiday title slate, Piper's Olson said the firm conducted a second survey of about 300 gamers to determine any shifts from Piper's previous batch of results. The latest survey shows that Activision Blizzard's (ATVI) "Call of Duty: Black Ops 4" and Take-Two's (TTWO) "Red Dead Redemption 2" are the most anticipated games for pre-holiday 2018, with the next three being Ubisoft's (UBSFY) "Assassin's Creed Odyssey," Bethesda's "Fallout 76," and Electronic Arts' (EA) "Battlefield V." In addition, the analyst said his firm's analysis of YouTube trailer likes-to-dislikes shows "Red Dead Redemption 2" is, by far, the most "liked" of the upcoming games. Meanwhile, such analysis showed that gamer interest for "Battlefield V" was "weak," as trailers for the game have more dislikes than likes. While the firm rates each of the major publishers as Overweight, Olson said that, based on most potential for upside through the second half of calendar year 2018, he ranks them relative to each other as follows: Take-Two first, Activision second, and EA third. WHAT'S NOTABLE: Piper's Olson is not the only analyst this week to note the upside potential of Activision Blizzard, as Wedbush analyst Michael Pachter raised his price target on the shares to $100 from $85 on Monday, saying he believes the shares should trade at a premium to its peer group because of the potential for so much upside from current initiatives and upcoming catalysts. Pachter also noted that Activision remains on the Wedbush Securities Investment Committee's Best Ideas List, and reiterates an Outperform rating on the shares. PRICE ACTION: In late morning trading, shares of Activision Blizzard and Take-Two are fractionally lower, while EA shares are marginally higher.

10:37 EDT Tesla slides after Elon Musk mocks SEC on Twitter - Shares of Tesla (TSLA) dropped in morning trading after Elon Musk, the company's CEO, mocked the Securities and Exchange Commission in a tweet, calling the agency the "Shortseller Enrichment Commission." Last weekend Musk reached an agreement with the SEC to settle fraud charges, and that charge is currently pending approval from a federal judge. MUSK MOCKS SEC: On Thursday, Musk tweeted, in apparent reference to the SEC, "Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" Musk's tweet came just hours after Musk and the SEC were told by U.S. District Court Judge Alison Nathan, who must approve the deal, to explain why the settlement is "fair and reasonable" by October 11, Bloomberg reported. Separately, Musk took aim at BlackRock (BLK) and other large fund managers for fueling short sellers. Musk alleged in a tweet that BlackRock and other firms pocket "excessive profit from short lending while pretending to charge low rates for 'passive' index tracking." SEC SETTLEMENT: This past weekend, the SEC announced that Musk agreed to settle the securities fraud charge brought against him last week. The settlement requires that Musk will step down as Tesla's chairman and will be ineligible to be re-elected chairman for three years. Additionally, Tesla will appoint two new independent directors to its board and both the CEO and company will each pay $20M penalties to settle allegations that Musk misled investors in August by tweeting that he was considering taking Tesla private and had secured funding for the effort. According to the SEC's complaint, Musk's misleading tweets caused Tesla's stock price to jump by over 6% on August 7, and led to "significant market disruption." Additionally, the SEC is requiring that Musk get approval from the company's lawyer before tweeting any more company news, which reports had said could clamp down on Musk's "headline-grabbing, unpredictable approach to promoting Tesla's brand." Recode's Teddy Schleifer reported via Twitter after the "Shortseller Enrichment Commission" tweet that the SEC agreement on Musk's tweets "does not take effect for 90 days from the settlement date, per source. So he still has ~80 days to tweet whatever he wants." The SEC declined to comment on Musk's tweet, Schleifer said. Additionally, Fox Business Network's Charlie Gasparino also tweeted, saying that the "@SEC_Enforcement continues to investigate @Tesla over possible misstatements on production/profitability targets-sources focus is on stated targets for Model 3/co profitability. SEC sources say case is tougher case than @elonmusk 'funding secured' tweet." PRICE ACTION: In morning trading, shares of Tesla are down 4.2% to $270.17.

10:13 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly. 1. FEDERAL COURT RULES CRYPTOCURRENCIES ARE COMMODITIES: On Wednesday, the U.S. Commodity Futures Trading Commission announced that on September 26, Senior Judge Rya Zobel entered an order holding that the CFTC has the power to prosecute fraud involving virtual currency. James McDonald, CFTC Director of Enforcement said, "This is an important ruling that confirms the authority of the CFTC to investigate and combat fraud in the virtual currency markets. This ruling...recognizes the broad definition of commodity under the CEA, and also that the CFTC has the power to prosecute fraud with respect to commodities including virtual currencies." 2. COINBASE CONSIDERED $8B COMPANY: Cryptocurrency exchange Coinbase is nearing a deal that would value the company at roughly $8B, making it one of the highest-valued startups in the U.S. and helping further legitimize the cryptocurrency industry, Recode reported Tuesday. The company is in talks with Tiger Global and its current shareholders for an investment of up to $500M. In addition, Coinbase announced on Tuesday that Jonathan Kellner, chief executive officer of Instinet, will join the company as managing director of the institutional coverage group. The company said, "In his new role at Coinbase, Jonathan will take charge of our institutional sales and support organizations." Bloomberg reported Thursday that Adam White, head of the company's institutional platform group, is departing the firm. 3. TD AMERITRADE INVESTS IN CRYPTO EXCHANGE: TD Ameritrade (AMTD) announced Wednesday that it has made a strategic investment in ErisX, a regulated derivatives exchange and clearing organization that will include digital asset futures and spot contracts on one platform. "Our retail clients are seeking to access and trade digital currency products in the same way they do with traditional capital markets -- through a legitimate, regulated and transparent exchange," said Steve Quirk, executive vice president of Trading & Education. 4. RIOT BLOCKCHAIN PRICE TARGET LOWERED: On Thursday, H.C. Wainwright analyst Kevin Dede lowered his price target for Riot Blockchain (RIOT) to $4 from $10 but kept a Buy rating on the shares. The "ugly ramifications" of Riot's CEO departure in early September compounded by an increasingly difficult bitcoin mining and pricing environment have temporarily upended the company's fundamental development, Dede said. The analyst, however, sees a "silver lining" in Riot's focus and commitment to building its cryptocurrency trading platform, RiotX. Dede remains bullish on bitcoin's "eventuality in fulfilling its utilitarian currency potential." 5. MEDICI VENTURES INVESTS IN VINX: Medici Ventures, the blockchain accelerator and subsidiary of Overstock.com (OSTK), announced Thursday its latest strategic investment in VinX, an Israel-based company developing a blockchain platform. VinX plans to create a token-based digital wine futures platform based on the Bordeaux futures model that allows for the selling and trading of wine futures on a transparent and secure blockchain. CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock, DPW Holdings (DPW), Kodak (KODK), Ideanomics (SSC), Riot Blockchain, Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin dropped about 1.5% this week to $6,552 in U.S. dollars, according to CoinDesk. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

10:00 EDT Azure Power falls -6.1% - Azure Power is down -6.1%, or -80c to $12.25.

10:00 EDT Myers Industries falls -11.9% - Myers Industries is down -11.9%, or -$2.64 to $19.64.

10:00 EDT Morgan Stanley Emerging Markets rises 11.5% - Morgan Stanley Emerging Markets is up 11.5%, or $1.73 to $16.73.

09:47 EDT Azul rises 2.3% - Azul is up 2.3%, or 43c to $19.36.

09:47 EDT Morgan Stanley Emerging Markets rises 11.7% - Morgan Stanley Emerging Markets is up 11.7%, or $1.76 to $16.76.

09:24 EDT Concentrix announces close of acquisition with Convergys - Concentrix confirmed the previously announced acquisition of Convergys (CVG) has officially closed and the integration with Concentrix has begun. Concentrix is a wholly-owned subsidiary of SYNNEX (SNX).

09:13 EDT Darling Ingredients acquires assets of Triple - T Foods, terms not disclosed - Darling Ingredients announced that it has acquired substantially all the assets of Triple - T Foods Arkansas, including a wet pet food ingredient operation in Springdale, AR, along with a cold storage operation in Rogers, AR. The acquisition further expands Darling's premium protein business for the growing pet food industry. "Triple - T Foods is an excellent strategic fit with Darling's growing specialty pet food ingredient portfolio," said Randall Stuewe, Darling Ingredients Chairman and CEO. "Triple - T has established a long history of providing quality proteins into the high-end pet food markets, and we look forward to building upon that reputation. We expect this acquisition to be accretive immediately and to add customer depth to our other wet pet food operations in Nebraska and Kentucky," concluded Stuewe.

09:01 EDT Kraft Heinz announces launch of $100M venture capital fund - Kraft Heinz announces the launch of Evolv Ventures, a venture fund that will invest in emerging tech companies transforming the food industry. Kraft Heinz has committed up to $100 million to Evolv Ventures and brought on venture investor Bill Pescatello to lead the fund. While Kraft Heinz has a long history of developing iconic brands including Philadelphia, Heinz and Oscar Mayer, the new fund will accelerate the company's exposure to emerging technologies and businesses, and better leverage its position in the industry. "At Evolv Ventures, we will move beyond brands to have a committed first look at our industry's most promising and disruptive tech-enabled companies," said Pescatello. "With the insights, data and access available at Kraft Heinz, we look to take full advantage of our unique position and be the foremost value-added investor in the space."

09:00 EDT Lennar announces plans to develop Babcock National - Lennar announced plans to develop Babcock National, a stunning new golf and country club community in the premiere master-planned community of Babcock Ranch. Situated on the northeast side of Founders Square across Lake Babcock, the new Babcock National will boast a breathtaking location combined with a wide array of home designs and luxurious on-site amenities. Sales are anticipated to begin in the first quarter of 2019.

08:47 EDT MMA Capital announces Hunt exercise of option to acquire MGM - MMA Capital announced that an affiliate of Hunt Companies has exercised Hunt's option as set forth in the Master Transaction Agreement dated January 8, 2018 between the Company and Hunt to take assignment of the Company's commitment to acquire the LIHTC business of Morrison Grove Management, pursuant to the Purchase and Sale Agreement dated as of the 8th day of January, 2018. As a result of the Company's assignment of the MGM PSA and Hunt's closing thereunder, the Company will recognize an increase in common shareholders' equity of approximately $14.2M in the fourth quarter, or approximately $2.32 per share based on our diluted shares outstanding at June 30, 2018.

08:42 EDT Cytokinetics, Astellas say reldesemtiv COPD trial did not meet primary endpoint - As previously reported, Cytokinetics (CYTK) and Astellas Pharma (ALPMY) provided an update for their collaborative skeletal muscle program, including clinical trial updates for reldesemtiv in neuromuscular and non-neuromuscular conditions. Astellas recently completed a Phase 2 clinical trial designed to assess the potential effect of reldesemtiv compared to placebo on exercise tolerance, assessed as change from baseline in Constant Work Rate endurance time over two weeks, in approximately 40 patients with Chronic Obstructive Pulmonary Disease, or COPD. Additionally, the trial assessed other cardiopulmonary and neuromuscular effects and resting spirometry. In addition, the safety, tolerability and pharmacokinetics of reldesemtiv were assessed. This trial of reldesemtiv did not meet the primary endpoint and did not demonstrate a statistically significant treatment difference in any of the secondary endpoints. Adverse events were similar between groups receiving reldesemtiv and placebo. Astellas has been conducting a Phase 1b clinical trial designed to assess the effect of reldesemtiv versus placebo on skeletal muscle fatigue in approximately 60 subjects who are 70 to 89 years of age and who have limited mobility. Endpoints measured include the change from baseline versus 14 days of treatment in sum of peak torque during isokinetic knee extensions. Additionally, the trial is designed to assess the effects of reldesemtiv on physical performance as well as the safety, tolerability and pharmacokinetics of reldesemtiv. An interim analysis of this study was recently conducted, and the Independent Data Monitoring Committee determined that the pre-defined criteria for lack of efficacy of reldesemtiv had been met; Astellas has notified investigators to halt further enrollment in the trial. As recently announced, Cytokinetics and Astellas are advancing a next-generation FSTA into IND-enabling studies, which triggers a $2M milestone payment from Astellas to Cytokinetics. This potential drug candidate was designed to have different physicochemical properties than reldesemtiv and may be developed for the treatment of diseases and conditions associated with non-neuromuscular etiology and pathogenesis. The companies are also continuing their joint research program with Astellas providing sponsorship of Cytokinetics' activities through 2019.

08:35 EDT Tesla's Elon Musk says to delay Autopilot drive for navigation - Tesla will delay the Autopilot drive for navigation, CEO Elon Musk said a day after the release of a Consumer Reports survey of automated driving systems. Musk tweeted: "V9 moving to wide release now. Holding back Autopilot drive on navigation for a few more weeks of validation. Extremely difficult to achieve a general solution for self-driving that works well everywhere." Reference Link

08:30 EDT IPG Photonics trading resumes

08:24 EDT Melinta Therapeutics publishes findings from Orbactiv registry - Melinta Therapeutics announced that findings from the first phase of the ongoing Clinical and Historic Registry and Orbactiv Medical Evaluation, or CHROME, registry, a retrospective observational registry that seeks to characterize the use of Orbactiv for injection in real-world settings, have been published in the journal, Open Forum Infectious Diseases. The findings showed safety and efficacy outcomes for Orbactiv in the real-world setting that were consistent with those seen in the previously published Orbactiv Phase 3 SOLO program. Orbactiv is approved in the United States and European Union for the treatment of adult patients with acute bacterial skin and skin structure infection caused by designated, susceptible gram-positive pathogens, including methicillin-resistant Staphylococcus aureus.

08:21 EDT Genuine Parts announces automotive acquisitions in U.K. - Genuine Parts announced that Alliance Automotive Group, the company's wholly-owned automotive distribution company based in London, U.K., has completed the acquisitions of two automotive businesses, U.K. based Platinum International Group Limited and TMS Motor Spares Ltd. The Platinum acquisition was effective October 2, 2018, and is expected to generate estimated annual revenues of $75M. The TMS acquisition was effective August 31, 2018, and the company expects the acquired business to generate annual revenues of approximately $30M.

08:16 EDT Convergys trading halted, news dissemination

08:13 EDT Dominion, Scana say 'pleased' to reach settlement agreement with NCUC - Dominion Energy (D) and SCANA (SCG) on Thursday filed a stipulation agreement with the Public Staff of the North Carolina Utilities Commission and an intervenor in the proposed merger between the two companies. SCANA's assets include PSNC Energy, a natural gas utility based in Gastonia, N.C. Remaining necessary approvals include those of the NCUC and of the South Carolina Public Service Commission. Said the companies: "We are pleased to have reached a settlement agreement with the Public Staff of the North Carolina Utilities Commission and an intervenor that ensures rate stability and service reliability for more than 500,000 PSNC Energy customers. This marks significant progress in our proposed merger."

08:08 EDT XBiotech completes enrollment of phase 2 bermekimab study - XBiotech announced that it has completed enrollment in its Phase 2, open label clinical study evaluating subcutaneous administration of bermekimab in patients with moderate to severe Atopic Dermatitis, or AD. XBiotech has now completed and exceeded enrollment in the final cohort of patients who are receiving 400mg weekly doses of bermekimab over an 8 week treatment period. Enrollment for the study is now closed. XBiotech recently announced it completed the first cohort of patients in the study who received a low dose of bermekimab over a four week treatment regimen. The company reported that patients in the first cohort had significant improvement in multiple efficacy endpoints and that the treatment was well-tolerated.

08:04 EDT Union Bankshares to acquire Access National in $610M transaction - Union Bankshares Corporation (UBSH) and Access National Corporation (ANCX) jointly announced that they have entered into a definitive merger agreement for Union to acquire Access in an all-stock transaction. Combining the two organizations will create the leading Virginia-based regional bank with an unmatched presence across the Commonwealth. Based on financial data as of June 30, 2018, the combined company would have total assets of $16B, total deposits of $11.9 billion and gross loans of $11.4B. This transaction strengthens Union's presence in Virginia's most populous market, Northern Virginia. Clarke will join Union's board of directors and will assist in the integration. Under the terms of the merger agreement, each outstanding share of Access common stock will be converted into the right to receive 0.75 shares of Union common stock, valuing the transaction at approximately $610M, or $29.19 per share based on Union's closing stock price of $38.92 on October 4, 2018. The merger agreement has been approved by the board of directors of each company. The companies expect to complete the transaction in the first quarter of 2019, subject to the satisfaction of customary closing conditions, including regulatory and shareholder approvals. Keefe, Bruyette & Woods, Inc. is acting as the financial advisor to Union and Covington & Burling LLP is acting as its legal advisor in the transaction. Sandler O'Neill + Partners, L.P. is acting as financial advisor to Access and Troutman Sanders LLP is acting as its legal advisor in the transaction.

08:02 EDT Delphi Technologies CEO Butterworth to step down, Hari Nair named interim CEO - Delphi Technologies has appointed Hari Nair as interim CEO, effective immediately. Nair succeeds Liam Butterworth who is stepping down from his role as President and CEO to pursue other interests. The Board of Directors has commenced a comprehensive search process to identify a permanent CEO. Nair, who has more than 30 years of automotive executive experience, has also been a director of Delphi Technologies since it became a public company in December 2017. He started his career at General Motors, before joining Tenneco, where he held several senior leadership positions in global operations and the aftermarket sector. He served as Tenneco's COO from 2010 to 2015 and was a member of the Tenneco Board of Directors from 2009 to 2015.

07:56 EDT IPG Photonics trading halted, news pending

07:43 EDT Cytokinetics, Astellas Pharma provide update of skeletal muscle program - Cytokinetics (CYTK) and Astellas Pharma (ALPMY) provided an update for their collaborative skeletal muscle program, including clinical trial updates for reldesemtiv in neuromuscular and non-neuromuscular conditions. In addition to reldesemtiv, the companies are advancing another fast skeletal muscle troponin activator, or FSTA, into investigational new drug, or IND-enabling studies and continuing their joint research program through 2019. Cytokinetics has been developing reldesemtiv as a potential treatment for people with Spinal Muscular Atrophy, or SMA, Amyotrophic Lateral Sclerosis, or ALS and other debilitating neuromuscular diseases and conditions associated with skeletal muscle weakness and/or fatigue. In parallel, Astellas has been conducting non-neuromuscular clinical trials with reldesemtiv to investigate a potential path forward for the next generation FSTA in patients with Chronic Obstructive Pulmonary Disease, or COPD, and Frailty. Cytokinetics and Astellas are also conducting joint research to discover and advance additional small molecule activators of skeletal muscle, which may be developed as drug candidates for a broad array of diseases associated with skeletal muscle weakness and fatigue.

07:36 EDT Gol Linhas announces preliminary traffic figures for September - GOL Linhas announces preliminary air traffic figures for the month of September, 2018. Comparisons refer to the same period of 2017. GOL's total supply increased 1.8% due to a 2.6% increase in the number of seats and a 2.0% decrease in departures. GOL's total demand decreased 1.0% in comparison to September 2017 and consolidated load factor was 78.1%. GOL's domestic supply increased 2.4% and GOL's domestic demand decreased by 0.5%. GOL's domestic load factor decreased to 78.7%, a 2.3 p.p. decrease in comparison to September 2017. The volume of departures decreased by 1.7% and number of seats increased by 3.1% over September 2017. GOL's international demand and supply decreased by 4.6% and 2.9%, respectively, and international load factor was 73.0%, a decrease of 1.3 p.p. in relation to September 2017.

07:35 EDT Azul reports September traffic up 16%, capacity up 16.1% - Azul announces its preliminary traffic results for September 2018. Consolidated passenger traffic increased 16% compared to September 2017 on a capacity increase of 16.1%. As a result, load factor remained flat at 83.2%. Domestic load factor was 82.6% and international was 85%.

07:34 EDT New York REIT to issue a $3.25 per share cash liquidating distribution - New York REIT, which is liquidating and winding down pursuant to a plan of liquidation, announced the Company's Board of Directors has declared a cash liquidating distribution of $3.25 per share of the Company's common stock to be paid on October 22, 2018 to shareholders of record as of October 15, 2018. Separately, the Company has announced that it has closed on the previously announced sale of the Viceroy Hotel located on West 57th Street in New York, New York for $41M to an unaffiliated third party. The property was unencumbered at the time of sale. After satisfaction of pro-rations and closing costs, the Company received net proceeds of approximately $39.8M. The selling price is consistent with the Company's last reported net assets in liquidation as of June 30, 2018. The liquidating distribution is being paid from the net proceeds from the sale of the Viceroy Hotel and existing cash on hand. The Company also announced that the conversion of the Company from a Maryland corporation to a Delaware limited liability company to be known as New York REIT Liquidating is expected to become effective at 5:00 p.m. on Wednesday, November 7, 2018. In connection with the conversion of the Company to the LLC, the Company intends to withdraw its shares of common stock from trading on the New York Stock Exchange and the Company expects the last day of trading will be November 2, 2018 and that the Company's stock transfer books will be closed as of 4:00 p.m. ET on such date. When the conversion becomes effective, Company stockholders will automatically receive one unit of common membership interest in the LLC (which units will be in book entry form) for each share of the Company's common stock held by such stockholder. Units in the LLC will generally not be transferable, and units will not trade on the NYSE or any other exchange following the effective time of the conversion. Following the sale of the Viceroy Hotel, the Company's only remaining asset is a 50.1% interest in a joint venture which indirectly owns the Worldwide Plaza office and retail property, and this will continue to be the only asset of the LLC after the conversion becomes effective.

07:25 EDT Progenics trading halted, news pending

07:08 EDT Calithera Biosciences announces trials to evaluate Pfizer's Ibrance with CB-839 - Calithera Biosciences (CALA) announced two new clinical trial collaborations to evaluate Pfizer's (PFE) palbociclib, also known as Ibrance, and the investigational dual-mechanism poly, or ADP-ribose, polymerase, or PARP, inhibitor talazoparib, each in combination with Calithera's glutaminase inhibitor CB-839. As part of the collaboration, Pfizer will provide palbociclib and talazoparib, as well as financial support. Preclinical data suggest that CB-839, which is designed to starve tumor cells of the key nutrient glutamine, synergizes with CDK4/6 inhibitors by enhancing cell cycle arrest and blocking cancer cell proliferation. The combination of CB-839 with CDK4/6 inhibitors has demonstrated synergistic activity in a number of preclinical cancer models, including colorectal cancer, or CRC, non-small cell lung carcinoma, or NSCLC, triple negative breast cancer, or TNBC and ER+ breast cancer. Based on these data, Calithera will initiate a Phase 1/2 clinical trial of the combination of CB-839 plus palbociclib in patients with KRAS mutated CRC and patients with KRAS mutated NSCLC in Q1 of 2019. CB-839 also synergizes with PARP inhibitors to impair DNA synthesis, enhance DNA damage, and block cancer cell proliferation. The combination of CB-839 with PARP inhibitors has demonstrated synergistic activity in a number of preclinical cancer models, including renal cell carcinoma, TNBC, CRC, NSCLC, ovarian cancer and prostate cancer. Based on these data, Calithera will initiate a Phase 1/2 clinical trial of the combination of CB-839 plus talazoparib in patients with RCC, and TNBC in Q1 of 2019.

07:04 EDT Chimerix to present data from Phase 1 BCV study at IDWeek - Chimerix announced data from the company's Phase 1 study evaluating the safety and pharmacokinetics, or PK, of multiple ascending doses, or MAD, of intravenous, or IV, brincidofovir, or BCV, in healthy subjects. These data will be presented at IDWeek. The Phase 1 study evaluated the safety and pharmacokinetics of IV BCV in 27 healthy individuals who were randomized 3:1 to receive IV BCV or placebo in sequential MAD cohorts. Individuals receiving IV BCV were given a 10 mg dose in a two-hour infusion twice a week for two weeks or a 20 mg dose in either a one- or two-hour infusion once a week for four weeks. Twice weekly doses of IV BCV at 10 mg provided similar blood levels of the drug as the oral BCV 100 mg dose previously studied in late-stage clinical trials, with no reported diarrhea or other gastrointestinal adverse events. Both doses of IV BCV were generally safe and well tolerated. No serious adverse events were reported; mild adverse events with 10 mg dose included headache and bruising at IV site of injection.

06:52 EDT SPI Energy: Nasdaq grants request to extend stay of suspension in trading - SPI Energy announced that Nasdaq Hearings Panel granted the company's request to extend the stay of the suspension in trading of the company's securities pending a hearing on November 15, 2018, and issuance of a final Panel decision. As previously disclosed, on September 18, 2018, the company appealed to the Panel the Nasdaq Staff's September 11, 2018 delisting determination. The Panel has scheduled a hearing for November 15, 2018.

06:09 EDT Precision Drilling sees $30M+ in annual synergies in 2019 from Trinidad deal - In 2019, Precision expects to realize more than $30M in annual synergies through corporate efficiencies and facility consolidations. Precision will leverage its increased scale and realize long term incremental operating efficiencies through its recently upgraded IT infrastructure, technical support centers in Nisku and Houston and its supply chain management and manufacturing capabilities. Kevin Neveu, President and CEO of Precision remarked, "From a strategic perspective, Trinidad is a perfect fit with Precision. We can realize immediate synergies, estimated to be over $30 million, through fixed cost reductions, operational efficiencies and reduced public company costs. Over the long-term, the additional scale will further strengthen Precision's operating leverage and positions the company to service our customers' continued transition to High Performance drilling services with high spec AC rigs. Additionally, this combination allows us to better differentiate our service offering through our combined industry leading drilling technology initiatives and a larger operating platform. The incremental free cash flow generated through this combination will ensure Precision meets or exceeds our long-term debt reduction targets and improves our financial flexibility to pursue growth opportunities in the United States and in international markets."

06:07 EDT Toyota recalling about 168,000 Tundra, Sequoia, Avalon vehicles - Toyota is conducting a recall involving certain 2018-2019 Tundra and Sequoia, and 2019 Avalon vehicles in the United States. Approximately 168,000 vehicles are involved in this recall. Due to inappropriate programming in the airbag electronic control unit, a fault may be erroneously detected during vehicle startup which would disable one or more of the sensors used to detect crashes. This could result in the side and curtain shield airbags and/or front and knee airbags not deploying as designed in a crash. As a result, there is an increased risk of injury in the event of a crash and regulatory requirements in certain markets may not be met.

06:04 EDT Baker Hughes announces September international rig count of 1,004, down 4 - Baker Hughes, a GE company, announced that the Baker Hughes international rig count for September 2018 was 1,004, down 4 from the 1,008 counted in August 2018, and up 73 from the 931 counted in September 2017. The international offshore rig count for September 2018 was 204, down 8 from the 212 counted in August 2018, and up 14 from the 190 counted in September 2017. The average U.S. rig count for September 2018 was 1,053, up 3 from the 1,050 counted in August 2018, and up 113 from the 940 counted in September 2017. The average Canadian rig count for September 2018 was 201, down 19 from the 220 counted in August 2018, and down 9 from the 210 counted in September 2017. The worldwide rig count for September 2018 was 2,258, down 20 from the 2,278 counted in August 2018, and up 177 from the 2,081 counted in September 2017.

06:01 EDT Precision Drilling to combine with Trinidad Drilling in $1.028B deal

05:34 EDT Himax reiterates believe that business will be 'out of the trough' starting Q4 - Himax reiterates its belief that its businesses will be out of the trough starting from the Q4.

05:14 EDT OneSmart Education announces $30M share repurchase program - OneSmart International Education Group announced that its board has authorized a share repurchase program to repurchase up to $30M worth of its shares over the next 12 months, subject to market conditions.