Stockwinners Market Radar for October 12, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:22 EDT CBS announces resignation of CAO Anthony Ambrosio - CBS said that, on October 11, it entered into a separation agreement with Anthony G. Ambrosio, the company's Senior Executive Vice President, Chief Administrative Officer and Chief Human Resources Officer. The Separation Agreement provides for Ambrosio's resignation from the company, effective November 1, 2018, which shall be deemed to be pursuant to paragraph 7ci of Ambrosio's employment agreement with the company dated as of September 29, 2016, as amended. The Separation Agreement provides that during the period from November 2, 2018 through December 31, 2019, Ambrosio will provide non-employee consulting services to the company, on a non-exclusive basis, and will receive consulting fees of $100,000 per month.

17:56 EDT Copa Holdings reports preliminary September system-wide traffic up 6.5% - Copa Holdings released preliminary passenger traffic statistics for September 2018. For the month of September 2018, Copa Holdings' system-wide passenger traffic increased 6.5% year over year, while capacity increased 10.8%. As a result, system load factor for the month was 80.8%, 3.3 percentage points lower than September 2017.

17:13 EDT Texas Instruments recommends shareholders reject "mini-tender offer" by TRC - Texas Instruments said it has been notified of an unsolicited "mini-tender offer" by TRC Capital Corporation to purchase up to 1.5M shares of TI's common stock, representing approximately 0.15% of TI's outstanding shares. TRC Capital's offer price of $99.00 represents a 4.14% discount to the closing price of TI's stock on October 5, 2018 ($103.28), the last trading day prior to the date of the offer, and is less than the closing price of $101.09 on October 12, 2018. TI recommends that shareholders reject the offer and not tender their shares in response because the offer is at a price below the current market price for TI shares and is subject to many conditions, including TRC Capital's right to terminate or amend the offer if the market price of TI stock decreases or TRC Capital fails to obtain necessary financing. TI shareholders who have already tendered their shares may withdraw by providing notice in the manner described in the TRC Capital offer documents prior to the expiration of the offer, which is currently scheduled at 12:01 a.m. New York City time on November 6, 2018.

17:02 EDT Fanhua Employees Holdings reports 11.6% passive stake in Fanhua

16:52 EDT Dominion reports significant damage from Tropical Storm Michael - Dominion will continue to work around the clock and throughout the weekend to restore service to customers who lost power in the wake of Tropical Storm Michael. More than 250,000 of the approximately 600,000 customers impacted have had service restored. Early reports confirm significant damage in many regions of Virginia and North Carolina, with pockets of catastrophic damage in south-central portions of Virginia and Gloucester/Northern Neck. There was also significant damage in Central Virginia, the Tidewater area and northeastern North Carolina. Patrol teams are assessing damage, gathering data and ensuring site-specific materials and equipment are ready for each restoration job. They are finding significant damage, including broken poles and cross-arms, downed wires, fallen trees, and blocked roads. The focus is on working with local public safety and emergency officials to restore power to essential services and facilities critical to public health and safety, such as hospitals, fire and police departments and public water systems. Currently, 215 of these facilities remain out of service and will be restored as soon as possible. Once critical services are restored, crews will be assigned to work on returning service to the largest number of residential and business customers in the shortest amount of time. When major repairs are completed, the focus will shift to restoring smaller groups of customers and individual homes.

16:45 EDT AcelRx trading resumes

16:33 EDT TPG Advisors reports 6.8% passive stake in Taylor Morrison

16:28 EDT Photronics announces $25M share repurchase program - Photronics announced that its Board of Directors has authorized the repurchase of up to $25M of its common stock. This is in addition to the $20M share repurchase program that was authorized in July of this year and is now substantially complete.

16:18 EDT Conduent President Dave Amoriell to retire in January of 2019 - Conduent Incorporated announced that President Dave Amoriell will retire on Jan. 11, 2019.

16:17 EDT AcelRx says FDA advisory committee recommeds approval of Dsuvia - AcelRx Pharmaceuticals announced that the Anesthetic and Analgesic Drug Products Advisory Committee of the FDA voted 10-3 in favor of recommending the approval of Dsuvia for the management of moderate-to-severe acute pain in medically supervised settings for adult patients. Developed to address challenges with existing treatment options and to provide an easy-to-administer dosage form for rapid relief as early as 15 minutes, Dsuvia is a 30 mcg sufentanil tablet in a pre-filled applicator for sublingual administration by a healthcare professional. While the FDA is not bound by the committee's recommendation, it does take its advice into consideration. The Prescription Drug User Fee Act, or PDUFA, date for Dsuvia is November 3.

16:06 EDT Walmart acquires Bare Necessities, terms not disclosed - Walmart announced the acquisition of Bare Necessities, an intimates online retailer, who will join the Walmart U.S. eCommerce portfolio. Bare Necessities was founded in 1998 and offers more than 100,000 SKUs from more than 160 brands, including an extensive assortment of bras, swimwear, shapewear and sleepwear. Intimates, a category that has been aggressively growing online, has complex sizing and highly specialized products. Bare Necessities will bring deep category expertise, a content offering designed to educate intimates shoppers, as well as strong brand relationships and operational capabilities. Bare Necessities will continue to operate its site as it has and will run as a standalone and complementary brand to our other eCommerce sites. Over time, for those brands that would like to serve additional customers, we will work to integrate the Bare Necessities' assortment onto Walmart.com and Jet.com. As part of the acquisition, Noah Wrubel, CEO and co-founder of Bare Necessities, will lead the intimates category for both Walmart.com and Jet.com, while also continuing to run Bare Necessities.

16:04 EDT D.E. Shaw reports 5.1% passive stake in Mallinckrodt

15:33 EDT CME says E-mini Nasdaq-100 futures reaches all-time daily trading volume record - CME Group announced E-mini Nasdaq-100 futures reached an all-time daily volume record of 1,150,475 contracts traded on Thursday, Oct. 11, 2018. This surpasses the previous single-day volume record of 1,149,387 contracts reached on Sept. 18, 2008. "This milestone demonstrates how global investors are increasingly turning to CME Group's products to manage risk or take advantage of trading opportunities amid ongoing volatility in the equity markets," said Tim McCourt, CME Group Global Head of Equity Products and Alternative Investments. "Nasdaq-100 futures and options products allow customers to gain exposure to the 100 largest U.S. non-financial companies, while benefiting from capital efficiencies by trading alongside our industry-leading equity index products."

14:56 EDT FDA advisors vote 10-3 in favor of backing approval of AcelRx's Dsuvia - Members of an FDA advisory committee voted 10 "Yes" to 3 "No" that the benefits of Dsuvia with Risk Evaluation and Mitigation Strategies, or REMS, outweigh the risks for the proposed use, supporting its approval, according to media accounts of the meeting. AcelRx Pharmaceuticals announced earlier that Nasdaq has halted trading of the company's common stock while the U.S. FDA Anesthetic and Analgesic Drug Products Advisory Committee is meeting.

14:05 EDT Cincinnati Financial sees Q3 pretax catastrophe losses about $120M from storms - Cincinnati Financial announced that The Cincinnati Insurance Companies' property casualty group expects its third-quarter results to include pretax catastrophe losses of approximately $120M, representing an impact on the Q3 combined ratio of approximately 9.5 to 10.0 percentage points, based on estimated property casualty earned premiums. The company's 10-year historical average contribution of catastrophe losses to the combined ratio is 5.6 percentage points for the third quarter. "Losses from natural catastrophe events affect property casualty insurance underwriting income, one of the sources of consolidated net income along with profits from investment operations and life insurance operations," the company said. The company estimates its Q3 property casualty combined ratio will be in the range of 96%-98%, including the effect of catastrophe losses. The ratio also reflects net favorable reserve development on prior accident years for the company's commercial casualty line of business. The company also announced that Hurricane Michael is expected to impact fourth-quarter 2018 results, but that it currently cannot predict the magnitude, as many damaged areas are not yet accessible. Based on initial claims reports received, most of the claims covered by the company's standard market lines business are for personal lines accounts with nearly half located in Georgia and approximately one-quarter in Alabama.

13:58 EDT Universal Logistics acquires Specialized Rail Service for $12.3M - Universal Logistics Holdings announced the acquisition of Specialized Rail Service, which offers local and regional intermodal drayage services, as well as transloading, cross-docking, warehousing and distribution, and intermodal facility management. Specialized Rail Service boasts a fleet of over 140 tractors and provides capacity to much of the western United States. For the year-ended December 31, 2017, Specialized Rail Service reported total operating revenues of $25.8M. The purchase price was $12.3M, subject to customary post-closing adjustments. Pursuant to the acquisition, SRS will operate as part of Universal Intermodal, Inc. and is expected to be immediately accretive.

13:35 EDT #SocialStocks: Alphabet falls after Google+ breach, Snap continues decline - Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. GOOGLE+ BREACH ANNOUNCED, SERVICE SHUT DOWN: On October 8, Alphabet (GOOG, GOOGL) shuttered Google's social media offering Google+ for consumers, following a Wall Street Journal report of a data breach exposing the private data of hundreds of thousands of users. Later that afternoon, Google announced it shut down the network following an audit called "Project Strobe." Google's announcement said, "The consumer version of Google+ currently has low usage and engagement: 90% of Google+ user sessions are less than five seconds. Our review showed that our Google+ APIs, and the associated controls for consumers, are challenging to develop and maintain. Underlining this, as part of our Project Strobe audit, we discovered a bug in one of the Google+ People APIs: Users can grant access to their Profile data, and the public Profile information of their friends, to Google+ apps, via the API. The bug meant that apps also had access to Profile fields that were shared with the user, but not marked as public. This data is limited to static, optional Google+ Profile fields including name, email address, occupation, gender and age." Shares of Google parent Alphabet dipped 1.5% intraday to $1,148.19 following the news on Monday. Alphabet shares are finishing the week down about 5.3% at $1,100.18 per share, at time of writing. SNAP ORIGINALS ANNOUNCED, STOCK CONTINUES SLIDE: Snap (SNAP) announced "Snap Originals" on October 10, which provides Snapchat users with "exclusive shows created by some of the world's greatest storytellers, with new episodes released every day" on social network. Wall Street analysts, however, maintained their focus on the social app's declining Daily Active Users, or DAUs. MoffettNathanson analyst Michael Nathanson said he is skeptical the company can hit his stated 2019 goal of achieving full year positive free cash flow and profitability. Snap "is quickly running out of money," contended Nathanson, who thinks the company will need to raise capital by the middle to end of 2019. The analyst lowered his revenue estimates by 7% in 2019 and 15% in 2020 as he anticipates slower DAU and ARPU growth ahead and maintained his Neutral rating on Snap shares, though he cut his price target to $6.50 from $8. Goldman Sachs analyst Heath Terry lowered his price target for Snap to $11 from $17, but reiterated a Buy rating on the shares. With Snap shares down 50% since the company reported Q2 results, beyond the broader weakness in social media, the analyst believes investors are clearly focused on the impact competition is having on the company's user growth, ability to monetize, and capital needs. Pivotal Research provided a contrarian view, with analyst Brian Wieser upgrading the stock to a Buy from Hold and saying despite declining usage and liquidity, the data he looks at is showing a "widening user base, although one which is collectively reducing its time on the platform." Snap, despite a recovery of over 5% today, are down over 7.5% for the week at time of writing. FACEBOOK INTRODUCES PORTAL: On October 8, Facebook (FB) announced its entrance into the connected home market with Portal, a new video communications device utilizing artificial intelligence to enhance video calls and Facebook Messenger chats. The connected-home has a built-in Amazon Alexa (AMZN) virtual assistant and features augmented reality effects. On October 5, SunTrust analyst Youssel Squali said the latest data from AdExchanger suggested that over 10B messages have been exchanged between people and businesses every month, which is a 5-times increase in activity in less than two years. The analyst contended that the monetization of the Messenger platform is in its early days and represents a "massive opportunity" for Facebook. The launch of the Portal seems to move on that opportunity. INSTAGRAM ANNOUNCES NEW FEATURES: On October 4, Facebook subsidiary Instagram announced a new customizable Nametag to make it easier for users to follow each other. Users can scan each other's Nametags through the Instagram app, like a QR code. On October 9, Instagram announced new tools to deter and report bullying through the app. The social network said the new technology has already begun to roll out.

13:04 EDT Baker Hughes reports U.S. rig count up 11 to 1,063 rigs - Baker Hughes reports that the U.S. rig count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. U.S. Rig Count is up 135 rigs from last year's count of 928, with oil rigs up 126, gas rigs up 8, and miscellaneous rigs up 1. The U.S. Offshore Rig Count is unchanged at 23 rigs and up 3 rigs year-over-year. The Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68. The Canada Rig Count is down 17 rigs from last year's count of 212, with oil rigs up 15 and gas rigs down 32.

12:45 EDT Dow Jones Industrial Average turns negative after earlier 400-plus point gain

12:43 EDT Facebook says 30M actually had tokens stolen in recent cybersecurity breach - Facebook in a blog post that it is sharing details about the recent security breach, noting that it has not ruled out the possibility of smaller-scale attacks, which it is continuing to investigate. The company noted that it saw an unusual spike of activity that began on September 14, 2018, and started an investigation. "On September 25, we determined this was actually an attack and identified the vulnerability," Facebook said. "Within two days, we closed the vulnerability, stopped the attack, and secured people's accounts by restoring the access tokens for people who were potentially exposed. As a precaution, we also turned off "View As." We're cooperating with the FBI, which is actively investigating and asked us not to discuss who may be behind this attack." Of the 50M people whose access tokens the company believed were affected, about 30M actually had their tokens stolen. Facebook said that the attackers already controlled a set of accounts, which were connected to Facebook friends. They used an automated technique to move from account to account so they could steal the access tokens of those friends, and for friends of those friends, and so on, totaling about 400,000 people. In the process, however, this technique automatically loaded those accounts' Facebook profiles, mirroring what these 400,000 people would have seen when looking at their own profiles. That includes posts on their timelines, their lists of friends, Groups they are members of, and the names of recent Messenger conversations. Message content was not available to the attackers, with one exception. If a person in this group was a Page admin whose Page had received a message from someone on Facebook, the content of that message was available to the attackers. The attackers used a portion of these 400,000 people's lists of friends to steal access tokens for about 30M people. For 15M people, attackers accessed two sets of information - name and contact details. For 14M people, the attackers accessed the same two sets of information, as well as other details people had on their profiles. This included username, gender, locale/language, relationship status, religion, hometown, self-reported current city, birthdate, device types used to access Facebook, education, work, the last 10 places they checked into or were tagged in, website, people or Pages they follow, and the 15 most recent searches. For 1M people, the attackers did not access any information. Facebook said that it will send customized messages to the 30Mpeople affected to explain what information the attackers might have accessed, as well as steps they can take to help protect themselves, including from suspicious emails, text messages, or calls. This attack did not include Messenger, Messenger Kids, Instagram, WhatsApp, Oculus, Workplace, Pages, payments, third-party apps, or advertising or developer accounts, the company noted.

12:36 EDT Mylan says it prevails in Copaxone litigation against Teva in appellate court - Mylan (MYL) announced that the United States Court of Appeals for the Federal Circuit has affirmed the District of Delaware's decision that Teva's (TEVA) Copaxone 40 mg/mL dosing patents are invalid as obvious. The Federal Circuit also affirmed the final written decisions issued by the Patent Trial and Appeal Board in three inter partes reviews filed by Mylan related to the same patents. Mylan says, "These were the last remaining patent infringement cases Mylan was defending in the U.S. relating to Glatiramer Acetate Injection 40mg/mL. Today's decisions are important milestones as we continue to focus our efforts on meeting the needs of multiple sclerosis patients in the U.S. with Mylan's more affordable treatment option." The invalidated patents are U.S. Patent Numbers 8,232,250; 8,399,413; 8,969,302; and 9,155,776, which are owned by Yeda Research & Development Co., Ltd. and licensed to Teva Pharmaceuticals Industries, Ltd.

12:27 EDT Citi says Sears bankruptcy filing won't affect business 'at all'

12:16 EDT Kudlow believes market selloff will be correction, 'nothing worse' - Director of the National Economic Council Larry Kudlow said on CNBC that he believes the recent market selloff will prove to be a correction and "nothing worse."

12:11 EDT Citi says likes having Mexico trade deal on the table - Says likes "what's going on" in Asia with the 4% growth.

12:02 EDT Maurel & Prom confirms talks to buy Shell's stake in Venezuela JV - Maurel & Prom confirmed that it is working on the acquisition of Shell Exploration and Production Investments B.V.'s 40% interest as "Shareholder B" in Petroregional del Lago Mixed Company, which operates the Urdaneta West field in Lake Maracaibo, Venezuela. Maurel & Prom Venezuela, subsidiary of Maurel & Prom, has signed a Share Sale and Purchase Agreement with Shell. Under the SSPA terms, the consideration for the acquisition of Shell's shares in the Mixed Company is EUR70M, funded from Maurel & Prom's existing cash resources. Petroleos de Venezuela S.A., wholly owned subsidiaries Corporacion Venezolana del Petroleo and PDVSA Social collectively referred to as "Shareholder A", jointly own the remaining 60% stake of the Mixed Company. The Field is currently producing around 16,000 barrels of oil per day on a 100% basis. The asset offers significant optionality through the development of additional reserves, and the possible extension of the licence duration beyond 2026. The closing of this acquisition remains subject to a number of conditions, amongst others the obtaining of the required governmental approvals, and the finalisation of the negotiations with PDVSA and its subsidiaries on the implementation and the funding of a redevelopment plan to increase the production of the Field, which should be partly funded by operating cash flow, and partly with Maurel & Prom Venezuela's funds up to an amount of EUR350M over the period 2018-2023. Maurel & Prom Venezuela's commitment to provide the Project Funding is subject to the fulfilment of several conditions, including the progressive reimbursement to Maurel & Prom Venezuela of the portions of Project Funding attributable to Shareholder A.

12:00 EDT Global Geoscience falls -7.6% - Global Geoscience is down -7.6%, or -$2.12 to $25.63.

12:00 EDT Bitauto rises 10.2% - Bitauto is up 10.2%, or $1.84 to $19.91.

12:00 EDT Endava rises 13.2% - Endava is up 13.2%, or $2.80 to $24.00.

11:56 EDT Citi sees continued y/y growth in accrual business in Q4 - Sees continued year-over-year growth in accrual business in Q4. Sees somewhat better growth in retail banking in Q4. Says will continue to invest across the franchise while maintaining expense disciplines. Sees continued year-over-year revenue growth in Q4 in Europe and Asia. Says expenses should decline modestly.

11:48 EDT Canadian analyst rolls out cannabis stock coverage with four Sell ratings - Cannabis stocks are in focus after an analyst started coverage of the Canadian Cannabis sector with four Sell ratings on stocks. SELL: Veritas analyst Stuart Rolfe began coverage of the sector with four Sell ratings on Canopy Growth Corporation (CGC), Aphria (APHQF), Aurora Cannabis (ACBFF) and Cronos Group (CRON) in a note entitled "End of the Rainbow." The analyst noted that investors have already driven stock valuations for the eighth largest publicly traded Canadian cannabis producers to a combined market cap of $55B on trailing twelve month sales of $250M while "oversupply risks are rampant." Even assuming 60% of the black market converts, Canada's cannabis industry "looks wildly overvalued," Rolfe said. CANOPY GROWTH: Rolfe, who sees an intrinsic value of C$30 for Canopy Growth shares, said the company may be at risk of too much exposure to positive projections. The analyst said Canopy appears to have the most to lose if market conditions disappoint as it bet heavily on brand power and novel formulations. He noted that while the company has rushed to ensure plenty of supply on hand, its "zealousness" could spark fierce competition with rivals, especially if demand remains low due to continued strength in black market sales. Rolfe said Canopy is "well positioned" to scale and should get product to customers effectively, however he thinks the company's branding efforts could draw negative attention from regulators. He also added that Canopy's cost disclosures are among the "least compelling and perhaps the least consistent." APHRIA: Rolfe called Aphria a "star unicorn" among the group, saying that despite the negative optics on the Nuuvera purchase, the company has been a leader in useful disclosure on strategies and operations. The analyst said the company's focus on cost management, cash flow generation and accounting detail bodes well for future performance. He believes Aphria's claim to being lowest-cost cannabis production is credible and notes the company's traditional greenhouse and pharmaceutical expertise. Rolfe said Aphria is "best positioned" to become a takeout candidate if industry consolidation continues. He sees an intrinsic value of C$19 for Aphria shares. AURORA: Rolfe said Aurora has acquired its way to becoming one of the largest scale bets on cannabis capacity available to public investors, but the company's approach seems to be "a touch unfocused". However, Aurora's loss of momentum has corrected its valuation significantly and if prospects improve, it may offer a better entry point, the analyst contended. Rolfe added that the capacity Aurora has built through acquisition is "remarkable" and could be a potential threat to competitors. The analyst also notes that Aurora's SG&A costs are "very elevated" and present "significant opacity" for investors, but he expects scale to bring relatively high SG&A down. He sees an intrinsic value of C$13 for Aurora shares. CRONOS: Rolfe, who sees an intrinsic value of C$4.50 for Cronos shares, said the company's positioning risks becoming "stale" as an undifferentiated grower with a few "solid" cannabis-related investments. He noted some of the investments may be plateauing, rather than adding growth and that without an "ahead-of-the-game" strategy for capital deployment, he sees few upside catalysts. The analyst said he views the company's current capabilities as "overvalued," but its relatively small footprint could turn the most by building out its medicinal and international channels. CANNABIS STOCKS: Other publicly traded companies in the space include CV Sciences (CVSI), India Globalization Capital (IGC) and Tilray (TLRY). PRICE ACTION: In late morning trading, Canopy Growth was up nearly 5% to $49.39, Aphria rose about 1% to $15.24, Aurora Cannabis was up 6.2% to $10.32 and Cronos Group rose 7.3% to $9.71.

11:29 EDT Box Office Battle: 'Venom,' 'A Star is Born' look to remain on top - Last week's two new releases -- Sony's (SNE) "Venom," and AT&T (T) subsidiary Warner Bros' "A Star is Born" -- are looking to battle for the top spot again this weekend. Comic book adaptation "Venom," starring Tom Hardy as the titular character, is expected to earn around $30.5M at 4,250 theaters, while musical drama "A Star is Born," starring Lady Gaga and Bradley Cooper, is expected to earn about $30M at 3,708 theaters. Three new releases for this weekend are expected to round out the top five -- Comcast (CMCSA, CMCSK) subsidiary Universal's "First Man," Sony's "Goosebumps 2: Haunted Halloween," and 21st Century Fox's (FOX, FOXA) "Bad Times At The El Royale." Awards hopeful drama "First Man," starring Ryan Gosling as astronaut Neil Armstrong, is expected to open at $21M, family comedy horror sequel "Goosebumps 2" is expected to open at $16M, and Drew Goddard thriller "Bad Times At The El Royale" is expected to open at $9M. Other publicly traded companies in filmmaking include Disney (DIS), Lionsgate (LGF.A, LGF.B), and Viacom (VIA, VIAB).

11:26 EDT ArcelorMittal to sell assets to Liberty House to facilitate Ilva acquisition - ArcelorMittal earlier announced that it has received a binding offer from Liberty House Group for the acquisition of ArcelorMittal Ostrava, ArcelorMittal Galati, ArcelorMittal Skopje and ArcelorMittal Piombino. The four assets are part of a divestment package the Company agreed with the European Commission during its merger control investigation into the company's acquisition of Ilva S.p.A. Transaction closing is subject to the completion of the company's acquisition of Ilva, and conditional on EU approval and the conclusion of information consultations with local and European Works Councils. Negotiations are ongoing with parties regarding the sale of the other assets -- ArcelorMittal Dudelange in Luxembourg, and several finishing lines in Liege, Belgium -- included in the divestment package.

11:21 EDT For reports September China sales down 43% y/y - Ford Motor Company China sales totaled 64,383 vehicles in September, a 43% decline year over year. The sales of Lincoln China totaled 5,476 vehicles in September, up 1% year over year. Monthly sales of Lincoln Navigator and Lincoln MKZ were up 21% and 28%, respectively. Monthly sales of JMC Teshun commercial vans were up 10% year over year, the iconic Ford F-150 Raptor continued its strong sales momentum in September. The year-to-date sales for Ford Motor Company in China totaled more than 585,000 units, a 30% decrease year over year.

10:17 EDT Celcuity Inc trading halted, volatility trading pause

10:09 EDT Silence reports 'favorable' outcome of U.S. PTAB decision against Alnylam - Silence Therapeutics reported what it called a "favorable" outcome of a decision by the U.S. Patent Trial & Appeal Board, or PTAB, against Alnylam. In the U.S., Alnylam filed a total of five Post Grant Review petitions against newly-issued Silence patents challenging the validity of the issued claims. In the first decision on Alnylam's petitions, the PTAB denied institution of post-grant review, finding that Alnylam had not met its initial burden of showing that the claims are invalid, Silence stated. "The PTAB's decision not to institute review provides yet another vindication of the strength of Silence's worldwide patent portfolio. Decisions on the remaining petitions are expected over the next several months," the company said.

10:03 EDT U.S. Auto Parts announces resignation of CEO, Director Aaron Coleman - U.S. Auto Parts disclosed in a regulatory filing this morning that on October 5, the company and Chief Executive Officer Aaron Coleman entered into a separation agreement. Coleman has resigned as CEO and Director to pursue other interests, U.S. Auto Parts announced. It added that Coleman's resignation "is not the result of any dispute or disagreement with the Company on any matter relating to the Company's operations, policies, practices or financial statements, including its controls or other financial related matters." U.S. Auto Parts has initiated a search for a new CEO and until one is appointed, Coleman has agreed to stay on in his current role as through the earlier of the date his successor his appointed or March 31, 2019.

10:00 EDT Daily S&P Biotech Bear 3x Shares falls -4.9% - Daily S&P Biotech Bear 3x Shares is down -4.9%, or -$1.71 to $33.25.

10:00 EDT Wabash falls -20.1% - Wabash is down -20.1%, or -$3.38 to $13.39.

10:00 EDT Endava rises 9.7% - Endava is up 9.7%, or $2.05 to $23.25.

09:55 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. COLLEGE ENDOWMENTS INVEST IN CRYPTO: The endowments of major research universities, including Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology, and the University of North Carolina, have invested in at least one cryptocurrency fund, signaling crypto's growing acceptance among institutions, the Information reported Wednesday. While many institutions have been hesitant to invest directly in cryptocurrency due to lack of technical knowledge and uncertainty over secure storage of the assets, the move shows that several of the most high-profile institutions in the U.S. are finally ready to enter the cryptocurrency sector. 2. CRYPTO THEFT HITS ROUGHLY $1B: Theft of cryptocurrencies through hacking of exchanges and trading platforms grew to $927M in the first nine month of the year, up about 250% from the level seen in 2017, the New York Post reported Wednesday, citing a CipherTrace report. The report also showed a steadily increasing number of smaller thefts in the range of $20M to $60M, totaling $173M in the third quarter. 3. ECONOMIST CRITICIZES CRYPTO: Global economist Nouriel Roubini testified in front of the U.S. Senate Committee on Banking, Housing and Community Affairs issuing warnings on multiple aspects of cryptocurrency, CNBC reported Thursday. "Crypto is the mother or father of all scams and bubbles," he said, calling out "scammers" who he claims tapped into "clueless retail investors' FOMO," and then took them for a ride with "scammy crappy assets at the peak that then went into a bust and crash -- in a matter of months -- like you have not seen in any history of financial bubbles." Roubini also took on blockchain saying, "Now that the crypto bloodbath is in full view the new refuge of the crypto scoundrels is 'blockchain,' the technology underlying crypto that is now alleged to be the cure of all global problems, including poverty, famines and even diseases. But as discussed in detail below blockchain is the most over-hyped -- and least useful -- technology in human history. " 4. PLASTIC SURGEON BUYS BITHUMB STAKE: BK Global Consortium, which is led by plastic surgeon and startup investor Kim Byung-gun, has agreed to purchase 50% plus one share of BTC Holding, the largest investor in the operator of Bithumb, one of South Korea's biggest cryptocurrency exchanges, Bloomberg reported Friday. BK Global Consortium, which was already the fifth-largest shareholder of BTC Holding, will pay 400B won, or $352M, for the stake. 5. IDEANOMICS SIGNS JV: On Tuesday, Ideanomics (SSC) announced that it has entered into a joint venture agreement with TPJ to create Ideanomics Resources. The company said, "The 75% Ideanomics owned joint venture has been created to unlock value in the commodities and energy sectors by leveraging and utilizing the Ideanomics Platform-as-a-Service solutions, a suite of strong multi-layer fintech technologies leveraging blockchain and artificial intelligence." The joint venture will be responsible for establishing a commodity and energy digital asset exchange and will initially focus on Africa and the Middle East. 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 (OSTK), DPW Holdings (DPW), Kodak (KODK), Ideanomics, Riot Blockchain (RIOT), 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 4.9% this week to $6,232 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.

09:52 EDT Campbell says will continue to evaluate sale if value can be increased

09:49 EDT Campbell takes aim at Third Point in new investor presentation - Campbell Soup announced that it has filed an investor presentation with the SEC in connection with its 2018 Annual Meeting of Shareholders, scheduled for Nov. 29. In the presentation, Campbell "provides additional perspective around its performance over the last 18 months; highlights the strength of its recently announced plan to revitalize the company and maximize value; outlines why Third Point's actions and nominees are not aligned with shareholders' interest; and reiterates the Campbell Board's complete alignment and commitment to deliver value for all shareholders." It added in the presentation, "The Campbell Board will continue to seriously consider other strategic options if they can demonstrably enhance shareholder value beyond what we confidently believe can be achieved from executing our August 30th plan." On its CEO search, Campbell said, "The Board, with the support of leading candidate assessment and executive search firms, has been examining qualified candidates for months who possess a track record of proven results and achievement; A number of highly qualified candidates have expressed interest in the opportunity; Campbell expects to select the Company's next CEO upon finding the best candidate, which we expect to do by the end of the calendar year." A slide in the presentation is titled, "All Approaches Presented by Third Point Appear to be Aimed Exclusively at a Sale of the Company." Campbell said it "evaluated a sale and will continue to do so if it can be shown to increase value relative to the plans outlined in our strategy and portfolio review." Other slides in the presentation are titled "Campbell's Long-Term Performance Is Misconstrued by Third Point's Selective Reference Points", "Third Point Has Failed to Put Forward Any Ideas Not Already Considered or Included in the Board's Plan","Third Point's Nominees Lack the Experience of our Current Board" and ""Third Point Poses an Unacceptable Risk". Reference Link

09:47 EDT ProShares Trust Ultra VIX Short Term Futures ETF falls -12.0% - ProShares Trust Ultra VIX Short Term Futures ETF is down -12.0%, or -$7.06 to $52.04.

09:47 EDT Twilio rises 8.6% - Twilio is up 8.6%, or $5.98 to $75.27.

09:47 EDT MagnaChip rises 10.7% - MagnaChip is up 10.7%, or 95c to $9.87.

09:45 EDT PNC Financial says confident in achieving financial targets for the year - On its Q3 earnings conference call, PNC said its corporate loan growth was below expectations in the quarter, and said the shortfall was due in part to elevated competition. The economy is "really strong," the company said, adding that it is confident it will achieve its financial targets for the year. The company sees continued steady growth in GDP, as well as one more rate hike this year. Sees FY18 non-interest expense up low-single digits. PNC Financial is down 4.2% to $126.11 in early trading.

09:31 EDT JPMorgan says riskier lending has gone to non-banks - Says dialogue on mortgage business has been constructive. Says riskier lending has gone to non-banks. Says it expects charge-off rates to rise. Says commercial loans should see steady growth.

09:08 EDT JPMorgan says the market will not take it well if rates go up - Says still exploring uses for blockchain. Says macro-uncertainty is negatively affecting the market. Says global economy is till growing and still has positive outlook. Says does not have exposure from lending perspective. Says tax reform is a big factor in expenses. Says market won't take it well if rates go up. Comments taken from Q3 earnings conference call.

09:02 EDT Delta Technology receives Nasdaq letter regarding bid price deficiency - Delta Technology announced that on September 14, 2018, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market notifying the Company that the minimum bid price per share for its common shares has been below $1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company's common stock on Nasdaq. Under the Nasdaq Listing Rules, the Company has until March 13, 2019 to regain compliance. If at any time during such 180-day period the closing bid price of the Company's common shares is at least $1 for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for Nasdaq Listing Rule 5550(a)(2), and provide a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary.

09:00 EDT Fly Intel: Pre-market Movers - UP AFTER EARNINGS: Citi (C), up 3%... Wells Fargo (WFC), up 2%... JPMorgan (JPM), up 1.7%. ALSO HIGHER: Microsoft (MSFT), up 3% after Macquarie analyst Sarah Hindlian upgraded the stock to Outperform from Neutral and raised her price target to $121 saying she is taking advantage of the pullback in shares... Corium (CORI), up 50% after agreeing to be acquired by Gurnet Point for $12.50 per share... TSMC (TSM), up 2.5% after DigiTimes reports it will receive all of Apple's (AAPL) A-13 chip orders. DOWN AFTER EARNINGS: PNC Financial (PNC), down 1%. ALSO LOWER: Immune Design (IMDZ), down 42% after announcing it will focus on the development of intratumoral IO agent G100 and discontinue CMB305... Trevena (TRVN), down 7% after announcing a negative outcome of an FDA advisory committee meeting on oliceridine.

08:37 EDT Aqua Metals adds ingots as a finished product - Aqua Metals announced that it has added ingots as part of its finished product offerings and has made significant progress towards steady state module utilization. "We are now complementing our initial finished product offering of large lead blocks with smaller lead ingots, the preferred lead format for our battery manufacturer customers," commented Steve Cotton, President of Aqua Metals. "We have overcome the technical hurdles and are now making lead ingots at steady state. This will allow us to ship our ultra-pure AquaRefined lead directly to battery manufacturers for production and also allow them to test our AquaRefined lead for improved battery performance and life."

08:31 EDT Bio-Techne signs strategic cooperation agreement with Micropoint Bioscience - Bio-Techne has entered into a strategic cooperation agreement with Micropoint Bioscience of Shenzhen, China. Chuck Kummeth, President and CEO of Bio-Techne, Yan Pingyi, Chairman of Micropoint Bioscience, and Wang Bin, Executive Vice President, Shenzhen Association of Medical Devices, all attended the meeting and signing ceremony. Micropoint Bioscience is a high-tech, newly-listed enterprise in China that has developed a microfluidic diagnostic chip for point-of-care testing. POC testing is revolutionizing healthcare by accelerating the speed of diagnosis and, subsequently, the administration of treatment. It also gives medical providers the ability to test and treat individuals who do not have access to a health care facility. The microfluidic diagnostic chip from Micropoint Bioscience will advance POC testing by shrinking tests so that only minimal volumes of samples and reagents are required. Bio-Teche is a leading provider of high-quality consumables and instruments for the life science and molecular diagnostic markets. Its antibody product lines are used to functionalize both research and diagnostic instruments and are core components to many biomarker assay platforms including the ProteinSimple-branded Ella, a microfluidic-based instrument that is a fully automated multianalyte immunoassay platform. Working together, Bio-Techne and Micropoint Bioscience will further strengthen the integration of this microfluidic technology in order to develop better and more accurate POC diagnostic tools for precision medicine in China.

08:16 EDT Varian Medical acquires privately-held software company Noona Healthcare - Varian announced the acquisition of privately-held software company Noona Healthcare, developer of a cloud-based, mobile service designed to capture cancer patient-reported outcomes. The Noona patient software app lets clinics capture PROs and communicate directly with patients. This acquisition expands Varian's portfolio of cancer care solutions and fits the company's long-term growth and value creation strategy. Terms were not disclosed.

08:09 EDT Wells Fargo reports allowance for credit losses $11B at September 30 - The allowance for credit losses, including the allowance for unfunded commitments, totaled $11.0 billion at September 30, 2018, down $154 million from June 30, 2018. Third quarter 2018 included a $100 million reserve release, which reflected strong credit performance and lower loan balances. The allowance coverage for total loans was 1.16 percent, compared with 1.18 percent in second quarter 2018. The allowance covered 4.1 times annualized third quarter net charge-offs, compared with 4.6 times in the prior quarter. The allowance coverage for nonaccrual loans was 155 percent at September 30, 2018, compared with 148 percent at June 30, 2018. The Company believes the allowance was appropriate for losses inherent in the loan portfolio at September 30, 2018.

08:06 EDT Starbucks executing $5B accelerated share repurchase program - As part of Starbucks' previously announced plan to return $25 billion to shareholders in the form of share buybacks and dividends through fiscal 2020, the company is currently executing a $5 billion accelerated share repurchase program, or ASR, of the company's common stock with the assistance of two financial institutions. The company used proceeds from the recently completed transaction with Nestle S.A. to execute the ASR, effective October 1, 2018. Initial delivery of shares represented approximately 80% of the total shares that will be repurchased under the ASR, which is expected to be completed as early as February 2019 and no later than March 2019.

08:05 EDT Foamix to present Phase 3 FX2017-22 data - Foamix announced that data from its Phase 3 clinical trial, FX2017-22, which investigated FMX101 for the treatment of moderate-to-severe acne, will be presented at the Fall Clinical Dermatology Conference. As the company previously communicated, the Phase 3 study met both co-primary endpoints of absolute change from baseline in inflammatory lesion count at week 12 and investigator global assessment treatment success at Week 12.

08:04 EDT Citi repurchased 75M common shares during Q3 - During Q3, Citigroup repurchased 75M common shares and returned a total of $6.4B to common shareholders in the form of common share repurchases and dividends.

08:02 EDT Citi 'firmly on track' to deliver FY18 financial targets - Citi CEO Michael Corbat said, "Our results this quarter showed solid year-over-year revenue growth across many of our businesses, including Fixed Income, Treasury and Trade Solutions, Securities Services, the Private Bank and our consumer franchise in Mexico. We also grew loans and deposits while continuing to prudently manage risk as demonstrated by the stability of our credit portfolio. We returned $6.4 billion of capital to common shareholders through buybacks and dividends during the quarter. And over the past twelve months, we've reduced our common shares outstanding by over 200 million or 8%. Through a combination of earnings growth and capital return, our earnings per share were 22% higher than one year ago. "Through the first nine months of this year, we have grown our underlying Consumer and Institutional revenues by 4%, operated with an efficiency ratio of 57.3% and delivered a Return on Tangible Common Equity of 11.2%. We are firmly on track to deliver on our full year 2018 financial targets. At the same time, we continue to make targeted investments which will fund future growth and enhance our ability to serve clients," Corbat concluded.

08:01 EDT Alaska Air reports combined September traffic up 0.6% - On a combined basis for all operations, Air Group reported a 0.6% increase in traffic on a 3.2% increase in capacity compared to September 2017. Load factor decreased 2.1 points to 80.8%.

07:36 EDT China Green intends to cure price deficiency to regain compliance with NYSE - China Green has notified the NYSE that it intends to cure the price deficiency that resulted from the fact that the 30-trading-day average closing price per share of the company's common stock was below $1.00, which is the minimum average share price required for continued listing under NYSE rules. Under NYSE rules, the company has six months to regain compliance with this continued listing standard and avoid delisting. The company's common stock continues to be listed and traded on the NYSE, subject to the company's compliance with other NYSE continued listing requirements. The NYSE notification does not affect the company's business operations or its SEC reporting obligations. The NYSE notification does not conflict with or cause an event of default under any of the company's material debt arrangements or other agreements.

07:30 EDT Alliqua trading resumes

07:15 EDT Washington Prime provides department store update - Washington Prime (WPG) continues to proactively manage its exposure to department stores situated within its tier one and open air assets. This has been accomplished by the continued redevelopment of WPG owned department store space as well as the acquisition of space owned by retailers, including Sears (SHLD). These capital allocation decisions continue to further the company's dominant secondary town center mandate via differentiated adaptive reuse where sales volume increases up to threefold. Total traditional department store exposure has decreased by nearly 50% since 2015 when factoring all announced department store closings, additional Sears locations in the tier one and open air portfolios identified for future redevelopment, and noncore assets. Sears exposure has declined by 78%, or 47 locations, since 2015 when factoring all announced Sears store closings, additional Sears locations in the tier one and open air portfolios identified for future redevelopment and Noncore assets. Washington Prime Group owns all save for three of the aforementioned 28 spaces which allows for control to unlock future redevelopment opportunities. During 2018, the Company proactively gained control of eight Sears locations at tier one assets. Revenue derived from Sears as of September 30, equates to 0.8% of total annualized minimum rent for the total portfolio and the company has allocated approximately $300M-$350M of capital necessary to retrofit the aforementioned 28 spaces over a three to five year period. These costs are included in the company's previously announced anticipated redevelopment spend of approximately $100M-$125M per annum.

07:11 EDT PNC Financial sees Q4 net interest income up low-single digits - Sees Q4 fee income up low-single digits. Sees Q4 loans up modestly. Sees Q4 other noninterest income $225M-$275M. Sees Q4 noninterest expense up low-single digits. Sees Q4 loan loss provision $100M-$150M. Guidance provided in Q3 earnings presentation slides.

07:06 EDT Sutro Biopharma receives FDA Orphan Drug Designation for STRO-001 - Sutro Biopharma has been granted Orphan Drug Designation by the United States FDA for STRO-001 for the treatment of multiple myeloma. STRO-001 is a potential first-in-class antibody drug conjugate targeting CD74, a protein highly expressed in B-cell malignancies such as multiple myeloma.

07:02 EDT Alliqua, Adynxx announce merger agreement - Alliqua BioMedical announced that they have entered into a definitive merger agreement under which the stockholders of Adynxx would become the majority owners of Alliqua's outstanding common stock on a fully-diluted basis. The proposed merger will create a public clinical-stage pharmaceutical company focused on developing a platform of first-in-class, disease-modifying, non-opioid therapies for the treatment of pain. Adynxx's lead product candidate, brivoligide for the reduction of postoperative pain, is intended to provide long-term pain relief and reduced opioid usage with a single administration at the time of surgery in a group of patients with a greater risk of experiencing increased and prolonged pain following surgery. The proposed merger remains subject to certain conditions, including approval by Alliqua's and Adynxx's stockholders. The merger is structured as a stock-for-stock transaction whereby all of Adynxx's outstanding shares of common stock and securities convertible into or exercisable for Adynxx's common stock will be converted into Alliqua common stock and securities convertible into or exercisable for Alliqua common stock. Under the exchange ratio formula in the merger agreement, immediately after the merger the former Adynxx securityholders are expected to own approximately 86% of the aggregate number of shares of the Alliqua common stock issued and outstanding following the consummation of the merger, and the existing stockholders of Alliqua are expected to own approximately 14% of the aggregate number of shares of the Alliqua common stock issued and outstanding following the consummation of the merger. Under certain circumstances further described in the merger agreement, the exchange ratio may be adjusted in a manner that would reduce the percentage of the aggregate number of post-merger shares of Alliqua common stock held by the existing stockholders of Alliqua. Upon closing of the transaction, Alliqua will be renamed Adynxx, Inc. and will be headquartered in San Francisco under the leadership of Adynxx's current management team. Prior to closing, Alliqua will seek stockholder approval to conduct a reverse split of its outstanding shares to satisfy listing requirements of the Nasdaq Capital Market. The combined company is expected to trade on the Nasdaq Capital Market under a new ticker symbol. The merger agreement has been unanimously approved by the board of directors of each company. The transaction is expected to close by the first quarter of 2019, subject to approvals by the stockholders of each company and other customary closing conditions.

07:00 EDT KKR to acquire Minnesota Rubber and Plastics from Norwest Equity Partners - Quadion LLC, d.b.a. Minnesota Rubber and Plastics, announced that it is being acquired by KKR, from Norwest Equity Partners, a Minneapolis-based middle-market equity investment firm. This transaction marks KKR's second acquisition of a middle-market business in the industrials sector and is being funded through KKR's Americas XII Fund. Financial details of the transaction were not disclosed. This transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close by year-end 2018.

07:00 EDT Alliqua trading halted, news dissemination

06:56 EDT Eli Lilly launches Thriver Movement for MBC patients in response to survey - Results from a new national, multi-stakeholder survey commissioned by Eli Lilly revealed that metastatic breast cancer, or MBC, places a significant daily strain on those living with the incurable disease. People with MBC who participated in the survey reported spending nearly half their time each week, 47%, on things related to their cancer. In response to the survey findings, Lilly created the Thriver Movement as part of its More For MBC initiative, which aims to increase understanding of the daily impact of MBC, deliver more dedicated resources and advance the development of more treatment options. Lilly partnered with MBC activist and actress Mira Sorvino as well as celebrity fitness instructor and yoga expert Anna Kaiser to launch the Thriver Movement. To mark the initiative's debut, Lilly collaborated with Kaiser and yoga instructors at the Dana-Farber Cancer Institute to develop a unique Thriver yoga pose and flow which is symbolic of the emotional and physical strength these women and men exude and can be done daily. The Thriver pose represents the strength and never-ending spirit of women living with MBC.

06:55 EDT AcelRx trading halted, news pending

06:52 EDT JPMorgan reports Q3 FICC sales and trading revenue $2.84B

06:51 EDT JPMorgan reports Q3 ROE 14%, ROTCE 17% - Reports Q3 Common equity Tier 1 of 12.0%; Net payout LTM 96%.

06:45 EDT Toyota recalling Tundra, Sequoia vehicles as airbags may not deploy as intended - Toyota Motor Engineering & Manufacturing is recalling certain 2018-2019 Toyota Tundra and Sequoia vehicles and 2019 Toyota Avalon and Avalon Hybrid vehicles. The air bag electronic control unit may erroneously detect a fault during the vehicle start-up self check. If this occurs, the ECU may not deploy the airbags as intended, in the event of a crash. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 208, "Occupant Crash Protection," and 214, "Side Impact Protection." About 168,187 vehicles are impacted by the recall.

06:18 EDT Facebook to let users post 3D photos in News Feed, VR - Facebook said in a statement: "We're starting to roll out 3D photos, a new way to share your memories and moments in time with a fun, lifelike dimension in both News Feed and VR. With technology that captures the distance between the subject in the foreground and the background, 3D photos bring scenes to life with depth and movement. Whether it's a shot of your pet, your friends, or a beautiful spot from your latest vacation, you just take a photo in Portrait mode using your compatible dual-lens smartphone, then share as a 3D photo on Facebook where you can scroll, pan and tilt to see the photo in realistic 3D-like you're looking through a window. You can also view 3D photos in VR using the Oculus Browser on Oculus Go or Firefox on Oculus Rift." Reference Link

06:07 EDT BeiGene presents updated Phase 1 data on zanubrutinib - BeiGene announced updated results from the Phase 1 clinical trial of its investigational BTK inhibitor zanubrutinib, in an oral presentation at the 10th International Workshop on Waldenstrom's Macroglobulinemia. The IWWM meeting is taking place in New York City from October 11-13, 2018. "As we prepare our first U.S. New Drug Application filing for zanubrutinib, which we expect to file in the first half of 2019 in patients with Waldenstrom's Macroglobulinemia, we are pleased to update data in patients with WM from the Phase 1 trial that will support our filing. With more than 70 patients with WM now treated, we continue to see a high rate of deep and durable responses across genotypes, including high rates of overall, major, and very good partial responses," commented Jane Huang, M.D., Chief Medical Officer, Hematology, at BeiGene. "We believe that the maturing data across B-cell malignancies continue to support a multi-regional approval strategy for zanubrutinib, including the ongoing NDA review in China for zanubrutinib in patients with relapsed/refractory mantle cell lymphoma by The National Medical Products Administration. We are hopeful that zanubrutinib, if approved, will represent a valuable treatment option across the globe for patients with several forms of B-cell malignancy."

06:04 EDT Tesla: Orders placed by October 15 eligible for full tax credit - Tesla said on its website that orders for cars placed by October 15 will be eligible for a full federal tax credit of $7,500 and these customers will get their cars delivered by the end of the year. Reference Link

06:00 EDT Volkswagen reports September worldwide deliveries down 18.1% to 827,700 vehicles - The Volkswagen Group delivered fewer vehicles in September, as expected, due to the changeover to the new WLTP test procedure: a total of 827,700 vehicles were handed over to customers worldwide, a decrease of 18.1%. The drop in Western Europe, where WLTP came into effect in September 1, was 41.5 percent. Dr. Christian Dahlheim, Head of Group Sales, commented: "So far this year, the Volkswagen Group has reported record deliveries. Following the very strong summer months, we expected lower deliveries in September, both in the overall market and for the Volkswagen Group, as a result of the WLTP changeover. That applies in particular to Europe and will continue into October. We expect November and December to be stronger months in this region. The WLTP changeover at all brands will be virtually complete by the end of the year."