Stockwinners Market Radar for November 13, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:15 EDT BancorpSouth to acquire Merchants Trust for up to $43M in cash and stock deal - BancorpSouth Bank announced the signing of a definitive merger agreement with Merchants Trust, Inc. and its wholly owned subsidiary, Merchants Bank, pursuant to which Merchants will be merged with and into BancorpSouth Bank. Merchants, which is based in Jackson, Alabama, operates six full-service banking offices in Clarke and Mobile counties in Alabama. The merger will expand BancorpSouth's presence in Mobile County, Alabama and allow it to enter new markets in the surrounding counties. BancorpSouth Bank currently operates two full-service banking offices, two mortgage loan production offices and one regional insurance office in Mobile, Alabama. As of September 30, 2018, Merchants, on a consolidated basis, reported total assets of $221 million, total loans of $152 million and total deposits of $195 million. Under the terms of the merger agreement, BancorpSouth Bank will issue 950,000 shares of BancorpSouth Bank common stock, plus $8 million in cash, for all outstanding shares of Merchants Trust, Inc. capital stock, subject to certain conditions and potential adjustments. The terms of the agreement provide for a collar with respect to the total deal value ranging from $37.5 million to $43 million.

20:12 EDT BancorpSouth to acquire Casey Bancorp for up to $56.8M in cash and stock deal - BancorpSouth Bank announced the signing of a definitive merger agreement with Casey Bancorp, Inc. and its wholly-owned subsidiary, Grand Bank of Texas. Upon completion of the merger, Casey Bancorp, Inc. and Grand Bank of Texas will each be merged with and into BancorpSouth Bank. Grand Bank operates four full-service banking offices in the cities of Dallas, Grand Prairie, Horseshoe Bay and Marble Falls, all in Texas. BancorpSouth Bank operates 59 full-service banking offices in Texas, including two in the Dallas - Fort Worth metroplex and 32 in Central Texas. As of September 30, 2018, Grand Bank, on a consolidated basis, reported total assets of $353 million, total loans of $249 million and total deposits of $323 million. Under the terms of the merger agreement, BancorpSouth Bank will issue 1,275,000 shares of BancorpSouth Bank common stock, plus $11 million in cash, for all outstanding shares of Casey Bancorp, Inc. capital stock, subject to certain conditions and potential adjustments. The terms of the agreement provide for a collar with respect to the total deal value ranging from $51.75 million to $56.75 million.

19:16 EDT Verizon discloses completion of its first 5G data transmission on a smartphone - Verizon (VZ) - in partnership with Motorola (MSI), Samsung Electronics (SSNLF) and Qualcomm Technologies, a subsidiary of Qualcomm (QCOM) - completed the world's first 5G data transmission on a smartphone on a commercial 3GPP 5G New Radio network. This successful test was completed with a moto z3 paired with a 5G moto mod, the world's first 5G-upgradeable smartphone, in Providence, RI. This is the same 5G-upgradeable smartphone device consumers will use on Verizon's 5G mobile network when commercial service begins in 2019. This is the latest in a series of 5G milestones Verizon and its technology partners have achieved in recent months. The companies performed several tests over the 5G connection, including browsing the internet and placing a video call. The transmissions were completed over Verizon's 28 GHz spectrum and Samsung 5G New Radio solutions. The moto z3 with 5G moto mod is powered by the Qualcomm Snapdragon X50 5G modem, along with the groundbreaking QTM052 mmWave antenna modules.

19:01 EDT Renren to dispose of all assets in SNS business to Beijing Infinities - Renren announced that Beijing Qianxiang Wangjing Technology Development Co., Ltd., a China-incorporated subsidiary wholly controlled by Renren, has agreed to sell all tangible and intangible assets in www.renren.com and its related business to Beijing Infinities Interactive Media Co., Ltd., for a cash consideration of $20M. Also in consideration and as part of the foregoing asset sale, Infinities Technology Holding Limited, a Cayman Islands company set up to become the parent entity of the Buyer, has agreed to issue to Renren shares of the Buyer Parent with a value of $40M based on an agreed-upon estimated valuation of the Buyer Parent at $700M. A minority shareholder of the Buyer is Oak Pacific Holdings, a company controlled by Joseph Chen, Renren's Chairman and Chief Executive Officer, and Mr. James Jian Liu, Renren's executive director and Chief Operating Officer. This asset sale transaction was discussed and approved by the audit committee of Renren's board of directors, which considered the background and material terms of this transaction as well as the result of a fairness analysis conducted by Duff & Phelps, LLC, and was submitted to and approved by Renren's board of directors.

18:32 EDT Golden Entertainment CFO Charles Protell buys 13.3K shares of common stock - In a regulatory filing, Golden Entertainment disclosed that its CFO Charles Protell purchased 13.3K shares of common stock at an average price of $13.90. The overall transaction value was $185.4K.

18:10 EDT Seattle Genetics granted FDA Orphan designation for Adcetris - According to a post on the FDA's website, Seattle Genetics has been granted FDA Orphan designation for Adcetris, a treatment for extranodal NK/T-cell lymphoma. Reference Link

17:49 EDT Nike names former Coca-Cola exec Williams president of Jordan Brand - Nike (NKE) announced that effective Jan. 14, 2019, Craig A. Williams will become President of Jordan Brand. Williams joins Jordan Brand from The Coca-Cola Co. (KO), where he most recently served as Senior Vice President, The Coca-Cola Co. and President of The McDonald's Division Worldwide and was responsible for growing brands and beverages categories. Larry Miller, current Jordan Brand President, will become Chairman for the newly created Jordan Brand Advisory Board.

17:45 EDT USA Technologies says unable to file 10-Q timely - In a form 12b-25 notice the company said: USA Technologies is unable to file, without unreasonable effort or expense, its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30 within the prescribed time period.Due to the previously disclosed ongoing internal investigation of the Audit Committee of the Board of Directors into certain of the Company's contractual arrangements, the Company will not be in a position to file the Form 10-Q by the prescribed due date or within the five calendar day extension period provided by Rule 12b-25b. As previously reported, and due to the internal investigation, the Company has not been in a position to file the Annual Report on Form 10-K for the fiscal year ended June 30. The Audit Committee is working closely with its advisors to complete its investigation in as timely a manner as possible. Once the investigation is completed, the Company plans to file the Form 10-Q and Form 10-K as soon as practicable. The Company will not be in a position to file the Form 10-Q or the Form 10-K until the Company and its independent auditor assess the results of the investigation, and the Company implements any remedial actions which may be deemed necessary by the Board of Directors.

17:19 EDT Eagle Bancorp to replace Insperity in S&P 600 at open on 11/19

17:18 EDT BAE Systems awarded $212.97M Navy contract modification - BAE Systems Jacksonville Ship Repair was awarded a $212.97M firm-fixed-price modification to their respective previously awarded multiple award contracts to exercise option year two for the accomplishment of fixed priced delivery orders for docking and non-docking Chief of Naval Operations scheduled ship repair availabilities. Work will be performed in Mayport, Florida, and is expected to be completed by November 2019. No funding will be obligated at time of modification. The Southeast Regional Maintenance Center is the contracting activity.

17:11 EDT Pinnacle Financia's Boardl approves $100M repurchase program - Pinnacle Financial Partners announced that its board of directors has authorized the repurchase of up to $100M of the Company's common stock. The board authorized the repurchase program to remain in effect through Dec. 31, 2019, unless the entire repurchase amount has been acquired before that date. The Company intends to fund the program with a combination of cash on hand, cash generated from operations and borrowings under the Company's $75M line of credit, under which there were no borrowings as of Sept. 30, 2018.

17:03 EDT Simmons First National to acquire Reliance Bancshares - Simmons First National Corporation announced that it has entered into a definitive agreement and plan of merger with Reliance Bancshares. According to the terms of the agreement, Simmons will acquire all of the outstanding common stock of Reliance for a combination of cash and stock consideration. Under the terms of the agreement, the holders of Reliance's common stock and common stock equivalents will receive, in the aggregate, 4M shares of the company's common stock and $62.7M in cash, all subject to certain conditions and potential adjustments. In addition, each share of Reliance's Series A, B, and C preferred stock will be converted into the right to receive one share of Simmons' Series A, B, or C preferred stock, respectively. Completion of the transaction is expected during Q2 of 2019 and is subject to certain closing conditions, including approval by the shareholders of Reliance, as well as customary regulatory approvals. Simultaneously with the closing of the transaction, Reliance Bank is expected to be merged with and into Simmons Bank.

16:47 EDT Value Act reduces stake in Armstrong World to 4.5% - As of the date hereof, Value Act beneficially own 2,244,910 shares of Common Stock, representing approximately 4.5% of Armstrong World 's outstanding Common Stock. All percentages set forth in this Schedule 13D are based upon t Armstrong World 's reported 49,566,139 outstanding shares of Common Stock as of October 25, 2018, as reported in the Issuer's Form 10-Q for the quarterly period ended September 30.

16:45 EDT Correction: Switch signs over 450 contracts in Q3 - This corrects story on 16:20.

16:38 EDT MoviePass parent Helios and Matheson cancels stock split - Earlier on Tuesday, the parent company of MoviePass, Helios & Matheson Analytics, announced it is canceling a stock split.The company said in a regulatory filing that "the Company's board of directors has cancelled the previously announced special meeting of the company's stockholders, originally scheduled to be held on October 18, and postponed to November 14 at 10:00 a.m. local time. The Board cancelled the Special Meeting because it does not expect to have the requisite stockholder votes to approve the proposed reverse stock split at the Special Meeting or to adjourn the Special Meeting. The purpose of the Special Meeting was to obtain the approval of the Company's stockholders to an amendment to the Company's Certificate of Incorporation to effect a one-time reverse stock split of common stock in a ratio of 1 share-for-2 shares up to a ratio of 1 share-for-500 shares. The company presented the reverse stock split proposal in an effort to regain compliance with the $1.00 minimum bid price requirement or continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule.If the Company does not regain compliance with Rule 5550 by December 18, the Company may be afforded a second 180-calendar day period to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement."

16:34 EDT Stifel Financial increases share repurchase authorization to 10M shares - Stifel Financial Corp. announced that its board has increased the company's share repurchase authorization to 10M shares. The board's authorization does not have a fixed expiration date and shares may be repurchased through open market or privately negotiated transactions based on prevailing market conditions.

16:32 EDT CLPS announces listing transfer to Nasdaq Global Market - CLPS Incorporation announced that the listing of its common shares has been transferred to the NASDAQ Global Market from the NASDAQ Capital Market. The company's common shares will begin trading on the NASDAQ Global Market effective at the start of trading on Wednesday, November 14, 2018 under the same symbol "CLPS."

16:29 EDT Armistice Capital reports 5.2% passive stake in Paratek Pharmaceuticals

16:28 EDT Platinum Equity reports 8.7% passive stake in Yatra

16:21 EDT Basso Capital reports 5.4% passive stake in Haymaker Acquisition

16:19 EDT Blue Apron slips 4.1% after announcing job cuts, Q3 results

16:18 EDT Switch reports Q3 churn of 0.3% vs. 0.3% last year - Signed over $39M in annualized recurring charges in Q3. Adjusted EBITDA of $50.9 million, compared to $49.7 million for the same quarter in 2017. Adjusted EBITDA margin of 49.5%, compared to 50.9% for the same quarter in 2017.

16:16 EDT Blue Apron announces strategic actions, will cut roughly 4% of workforce - Blue Apron announced that the company is taking strategic actions to strengthen its focus on specific areas of opportunity in the business that it believes will accelerate its path to profitability on an adjusted EBITDA basis in 2019. As Blue Apron expands its product offerings and strengthens its e-commerce platform to deliver a seamless customer experience, the company will prioritize customer segments within the direct-to-consumer business that exhibit certain attributes, including: 1) proven retention; 2) strong affinity for the brand; and 3) high potential to increase engagement with Blue Apron product offerings. The top 30% of Blue Apron's customers on a net revenue basis acquired in recent cohorts account for more than 80% of its net revenue from such cohorts in the year after acquisition and had an average payback on the acquisition cost per customer of less than six months. Additionally, Blue Apron will continue to launch prominent brand partnerships and innovate products to enhance its core offering for the lifestyle preferences of this segment. Blue Apron will be reallocating appropriate resources and marketing spend to support the success of its new and upcoming strategic partnerships, while working to eliminate its investment in customers who are unprofitable to the business. Recognizing that consumers seek to engage with Blue Apron beyond its direct-to-consumer platform, the company continues to expand the reach of its brand and products by meeting new segments of consumers on their terms through targeted retail channels and on-demand platforms. Strategic partnerships are an important component of Blue Apron's methodical channel expansion, enabling the company to scale its retail and on-demand business. To create a more nimble, focused organization and better align internal resources with the company's strategic priorities, Blue Apron streamlined its personnel today, resulting in a reduction of approximately 4% of its total workforce. As a result of this action, Blue Apron expects to incur employee severance charges and other exit costs of approximately $1.6 million in the fourth quarter and generate annual savings in personnel expenses of approximately $16 million in 2019. Continued optimization of Blue Apron's operational capabilities are expected to drive further COGS efficiencies and propel the business forward, with multiple initiatives underway in fulfillment processes, labor management, and sourcing utilization. The company continues to leverage automation technology to realize additional efficiencies.

16:12 EDT Globus Medical received warning letter from FDA over facility non-conformities - On October 31, Globus Medical received a warning letter from the FDA resulting from an inspection of the facilities of Human Biologics of Texas, a subsidiary of Globus, located in San Antonio, Texas, in April 2018. The letter describes observed non-conformities to regulations for human cells, tissues, and cellular and tissue-based products relating to one allograft tissue product processed by Human Biologics of Texas and sold to end users by Globus Medical, Globus disclosed in a regulatory filing. The company said, "We take the matters identified in the warning letter seriously, are working diligently to address the FDA's observations, and intend to respond in the specified time period. We believe that the FDA's concerns set forth in the warning letter can be resolved without a material impact to our financial results. We cannot, however, give any assurances that the FDA will be satisfied with our response or as to the expected date of the resolution of the matters included in the warning letter. Until the issues cited in the warning letter are resolved to the FDA's satisfaction, additional legal or regulatory action may be taken without further notice. Any adverse action by the FDA, depending on its magnitude, may restrict us from effectively producing, marketing and selling the product that is the subject matter of the warning letter and could have a material adverse effect on our business, financial condition and results of operations."

16:10 EDT Cardiovascular Systems says first patients in Europe treated with Peripheral OAS - Cardiovascular Systems announced that the first patients in Germany have been treated with its Stealth 360 Peripheral Orbital Atherectomy System. The German cases represent the first commercial use of Peripheral OAS in Europe. Dr. Tobias Achenbach, head of the Radiology Department at the St. Vincenz Hospital, Koln, where the first patients in Germany were treated by his colleagues Dr. Reza Asady and Dr. Ingo Benz, said, "CSI's minimally invasive orbital atherectomy technology allows physicians to gently modify calcified plaque and enables peripheral revascularization for patients with severely calcified arteries. The introduction of orbital atherectomy in Germany greatly improves the treatment options for my patients suffering from peripheral artery disease, or PAD."

16:07 EDT Akebia board recommends shareholders vote for merger with Keryx - Akebia Therapeutic mailed a letter in connection with the special meeting of Akebia (AKBA) shareholders that has been called to approve shareholder proposals relating to the previously announced proposed merger of Akebia and Keryx Biopharmaceuticals (KERX). The Akebia Board of Directors unanimously recommends that Akebia shareholders vote "FOR" the proposals relating to the proposed merger with Keryx. In a letter, the board states: "The Special Meeting to approve our proposed merger with Keryx is approaching. The Board unanimously believes this combination will provide substantial strategic, financial and operational benefits to Akebia, and increase the long-term value of Akebia. We came to this conclusion following a robust strategic evaluation. This included considering the advice of our independent financial advisors, Evercore and J.P. Morgan. Accordingly, we recommend that shareholders vote today "FOR" the Akebia proposals set forth in the definitive proxy statement, including "FOR" the proposal to issue shares of Akebia common stock to Keryx shareholders in relation to the proposed merger. Notably, we have talked with numerous shareholders and key opinion leaders who support the actions we are taking. Importantly, several independent research analysts are equally supportive."

16:06 EDT SVB Financial to acquire Leerink Partners for $280M in cash up front - SVB Financial Group announced that it has entered into a merger agreement to acquire Leerink Holdings, the Boston-based parent company of Leerink Partners, a leading investment bank focused on the healthcare and life science industries. SVB Financial Group is the parent company of Silicon Valley Bank, the bank of the world's most innovative companies and their investors. The new entity, SVB Leerink, will operate as a wholly-owned subsidiary of SVB Financial Group. With the acquisition, SVB will complement its commercial banking and lending products with a full range of investment banking services focused on healthcare and life science companies. SVB will acquire Leerink for $280 million in cash up front to the unitholders and, in addition, will provide a retention pool for employees of $60 million to be paid over five years. The deal has been approved by Leerink's unitholders and the transaction is expected to close during the first quarter of 2019.

16:02 EDT Veeva selected by Laboratoires Fill-Med and Novacap for quality management - Veeva Systems announced Laboratoires FILL-MED, a Filorga Group company, and Novacap are adopting Veeva QualityOne to modernize quality management. QualityOne allows organizations to manage quality processes, document control, and data in a single application. Leading chemical and cosmetics companies can now implement agile quality processes to ensure ongoing compliance and improve collaboration. Laboratoires FILL-MED is a fast-growing French company that specializes in developing innovative medical devices for aesthetic medicine. The company will use QualityOne to stay ahead of evolving standards and maintain audit readiness. Novacap is a leading raw materials supplier and contract manufacturing organization for the pharmaceutical and cosmetics markets. QualityOne provides Novacap the foundation to closely collaborate with their customers and achieve GMP and FDA regulatory compliance.

15:46 EDT Interpublic Group says DOJ investigation closed without any charges - In a regulatory filing, Interpublic Group noted that in December 2016 one of the company's standalone domestic agencies had been contacted by the Department of Justice Antitrust Division for documents regarding video production practices in the advertising industry. "By letter dated November 5, 2018, the DOJ confirmed that the foregoing investigation has been closed, and all documents produced by the Company and its subsidiary were returned to the Company. The DOJ did not bring any charges against the Company or its subsidiary," reported in the filing.

15:37 EDT Ribbon Communications trading resumes

15:11 EDT Facebook took down 141 accounts following FBI tip - Facebook said that last week's account takedown's were a "good example" of how the company has worked closely with government, the security community and other tech companies. "On November 4, the FBI tipped us off about online activity that they believed was linked to foreign entities," the social media giant said. "Based on this tip, we quickly identified a set of accounts that appeared to be engaged in coordinated inauthentic behavior, which is banned on Facebook because we want people to be able to trust the connections they make on our services. So we immediately blocked these accounts, and given the timing just before the US midterm elections, publicly announced what we found and the action we were taking. We also shared that information with the government and other companies to help them with their own investigations." Combined with its takedown last Monday, in total Facebook has removed 36 Facebook accounts, 6 Pages, and 99 Instagram accounts for coordinated inauthentic behavior. These accounts were mostly created after mid-2017, apart from a few outliers. The company found a total of about 1.25M followers of at least one of these Instagram accounts, with just over 600,000 located in the US. By comparison, the recent set of accounts that it removed which originated from Iran had around 1M followers. The company didn't find any Facebook events. Facebook found a total of about 65,000 followers of at least one of the Facebook Pages, which contained posts almost exclusively in French. About 60 followers were located in the US. There was about $4,500 in ad spend from these Pages, and none of the ads ran in the US. Facebook said it didn't find any ad spend on Instagram, and these accounts seem to have mostly been in English. "Ultimately, this effort may have been connected to the IRA, but we aren't best placed to say definitively whether that is the case," Facebook added. "As multiple independent experts have pointed out, trolls have an incentive to claim that their activities are more widespread and influential than may be the case. That appears to be true here as well."

14:16 EDT Ballard Power announces closing of strategic collaboration with Weichai Power - Ballard Power Systems announced that the company has successfully closed a strategic collaboration transaction with Weichai Power Co., initially detailed in a press release issued on August 29. "This strategic collaboration with Weichai - a leading automotive equipment manufacturer specializing in the production of powertrains, automobiles, intelligent logistics, automotive parts and components - underscores our high conviction in the opportunity for Fuel Cell Electric Vehicles, or FCEVs, in China's Heavy Duty Motive market. We see our collaboration with Weichai as an important validation of the FCEV value proposition and Ballard's technology leadership in PEM fuel cells. We expect our partnership to be a positive long-term catalyst for Ballard's business and for shareholder value," said Randy MacEwen, Ballard President and CEO.

14:09 EDT DOJ confirms settlement with Sinclair, Tribune, Meredith, others - The Department of Justice announced that it has reached a settlement with six broadcast television companies - Sinclair Broadcast Group Inc. (SBGI); Raycom Media Inc.; Tribune Media Company (TRCO); Meredith Corporation (MDP); Griffin Communications; and Dreamcatcher Broadcasting LLC - to resolve a Department lawsuit alleging that the companies engaged in unlawful agreements to share non-public competitively sensitive information with their broadcast television competitors. The Justice Department's Antitrust Division filed a civil antitrust lawsuit today in the U.S. District Court for the District of Columbia to challenge the unlawful exchange of competitively sensitive information among these six broadcast television companies, their sales representatives, and other broadcast television groups. At the same time, the Department filed proposed settlements that, if approved by the court, would resolve the lawsuit's alleged competitive harm alleged in the complaint. According to the complaint, the six broadcast television companies agreed in many metropolitan areas across the United States to exchange revenue pacing information, and certain defendants also engaged in the exchange of other forms of non-public sales information in certain metropolitan areas. Pacing compares a broadcast station's revenues booked for a certain time period to the revenues booked in the same point in the previous year. Pacing indicates how each station is performing versus the rest of the market and provides insight into each station's remaining spot advertising for the period. By exchanging pacing information, the broadcasters were better able to anticipate whether their competitors were likely to raise, maintain, or lower spot advertising prices, which in turn helped inform the stations' own pricing strategies and negotiations with advertisers. As a result, the information exchanges harmed the competitive price-setting process. The proposed settlement prohibits the direct or indirect sharing of such competitively sensitive information. The Department has determined that prohibiting this conduct would resolve the antitrust concerns raised as a result of the conduct of these defendants. The proposed settlement further requires defendants to cooperate in the department's ongoing investigation, and to adopt rigorous antitrust compliance and reporting measures to prevent similar anticompetitive conduct in the future. The settlement has a seven year term, and it will continue to apply to stations currently owned by defendants, even if those stations are acquired by another company. Reference Link

13:32 EDT Accenture adding 300 jobs in Seattle innovation hub by the end of 2020 - Accenture opened a new innovation hub in the heart of Seattle's business, financial and tech district. It is an immersive environment in which clients co-innovate with their Accenture teams to design solutions for the digital economy. As part of its investment in Seattle, Accenture is adding 300 highly skilled technology jobs by the end of 2020 and expanding its U.S. apprenticeship program. The apprenticeship program provides under-represented groups greater access to innovation-economy jobs. Accenture's national program will grow to more than 150 apprentices by the end of this year, building upon the success of the company's apprenticeship programs in other cities, including Boston, Chicago, Columbus, Detroit and San Antonio. The new innovation hub is designed as an environment where clients can work side-by-side with their Accenture teams to ideate, rapidly prototype and then scale innovative products and services. It includes a Fjord design studio to facilitate a design-thinking approach to problem solving and a Liquid Studio that quickly turns concepts into prototypes through rapid software application development.

13:30 EDT Ford reports October China sales down 45% to 58,204 vehicles - Ford Motor Company China sales totaled 58,204 vehicles in October, a 45% decline year over year, the company announced. "As part of our 2025 Plan, Ford is rolling out its first wave of our exciting new vehicles, designed especially to meet the needs of Chinese customers. The all-new Ford Focus and new Escort hit showrooms this month and the all-new Territory will follow soon. We believe our future product line-up will help us to regain our sales momentum in this important market and serve as a testament to our commitment to China," said Anning Chen, President and CEO, Ford Greater China.

13:23 EDT Acadia Healthcare drops 19%, or $7.97, to $33.97

13:21 EDT T. Rowe Price reports 10.7% passive stake in Papa John's

13:17 EDT Voya Financial shares up 2.5% to $45.67 after updated financial targets

13:15 EDT Voya Financial lays out plans for at least 10% annual earnings growth - Voya Financial announced its plans to achieve an adjusted operating earnings per share annual growth rate of at least 10% on a normalized basis through 2021. The company expects to achieve its plan through a combination of organic business growth, cost savings and share repurchases. Voya expects its core businesses - Retirement, Investment Management and Employee Benefits - to "drive high quality and sustainable earnings; expected total free cash flow conversion of 85% to 95%." The company is also targeting an additional $100M of run-rate savings, incremental to expense savings previously announced, expected by the end of 2020. Further, with continued share repurchases planned, Voya's common stock dividend expected to increase to achieve at least a 1% dividend yield by mid-2019. The company says adjusted operating earnings per share growth will be achieved "while maintaining strong returns and generating an enterprise operating return on equity of 13% to 15%." CEO Rodney Martin adds, "With our competitive advantages and renewed focus on our chosen businesses, Voya Financial is poised to achieve significant earnings per share growth of at least 10% annually over the next three years. Importantly, we believe that we can generate this level of adjusted operating EPS improvement while also achieving an operating return on equity of between 13% and 15%. The foundation of our plans starts with our higher-growth, higher-return, capital-light Retirement, Investment Management and Employee Benefits businesses. With our established positions in the workplace and with institutions, we will continue to expand our offerings to existing clients, while also attracting new customers. In addition to executing on growth plans that are specific to each business, we will continue to leverage opportunities to deliver holistic, comprehensive solutions across our businesses. With our significant reach and strong brand awareness, we are well positioned to help our customers achieve their goals with confidence."

13:11 EDT Voya sees dividend increasing to achieve at least a 1% dividend yield

12:58 EDT Infosys to open technology and innovation hub in Texas, hire 500 workers by 2020 - Infosys announced that it will open its next Technology and Innovation Hub in the State of Texas and hire 500 American workers in the state by 2020. The Hub will be located in Richardson, Texas and have a special focus on the telecommunications, retail and banking sectors. The Texas Technology and Innovation Hub represents a key milestone in Infosys' digital transformation campaign for the Americas and builds upon its May 2017 announcement to hire 10,000 American workers by 2019. Infosys has hired over 6,200 American workers since May 2017.

12:38 EDT Checkpoint Therapeutics director Lindsay Rosenwald buys 100K shares of stock - Checkpoint Therapeutics director Lindsay Rosenwald disclosed in a filing that he had purchased 100,000 shares of Checkpoint shares at an average price of $2.29 per share on November 7 through November 9 . The total transaction value of the purchase was $229,210.

12:29 EDT Voya Financial trading halted, news pending

12:06 EDT UPS adds 14 new countries served by UPS Worldwide Express - UPS announced the addition of 14 new countries served by UPS Worldwide Express, part of UPS's international suite of shipping services that guarantees time- and day-definite delivery for urgent shippers. The sweeping expansion of global services also includes later pick-up times, improved time-in-transit and Saturday delivery in seven countries in ISMEA, all part of the company's desire to better connect businesses to its smart global logistics network, while demonstrating the company's strategic focus on international high-growth markets. "We're excited to announce that customers can now choose UPS to better compete globally with the time-definite services competitive businesses need," said Nando Cesarone, president, UPS International. "By improving time-in-transit and increasing the number of countries served, our customers have more time-of-day delivery options to better meet their customers' critical needs." The guaranteed time- and day-definite delivery improvements include South and Central America, including Panama where customers can benefit from the Colon Free Trade Zone, plus Europe, the Middle East and Africa, including Nigeria, the largest economy in Africa by GDP and population.

12:02 EDT JetBlue appoints Brandon Nelson general counsel, corporate secretary - JetBlue announced the appointment of Brandon Nelson as the corporation's general counsel and corporate secretary. Nelson will lead JetBlue's Legal, Ethics and Compliance, Cybersecurity, and Environmental, Social and Governance efforts. He will report to JetBlue's CEO Robin Hayes. Nelson joined JetBlue in 2005 and previously served as director, corporate counsel and assistant secretary before being promoted in 2009 to VP, associate general counsel. He has served as general counsel on an acting basis since July 2018.

12:00 EDT Daqo New Energy falls -14.6% - Daqo New Energy is down -14.6%, or -$3.65 to $21.35.

12:00 EDT Cypress Energy rises 18.1% - Cypress Energy is up 18.1%, or $1.01 to $6.60.

12:00 EDT Beazer Homes rises 30.0% - Beazer Homes is up 30.0%, or $2.50 to $10.82.

11:42 EDT Galmed trial data on Aramchol 600mg presented at the Liver Meeting - Galmed Pharmaceuticals announced the oral abstract presentation of one-year results of the Company's global Phase 2b ARREST study of Aramchol in patients with non-alcoholic steatohepatitis. These results were presented during a Late Breaking Abstract Oral Session at The Liver Meeting 2018 during the American Association for the Study of Liver Diseases 2018 Annual Meeting being held in San Francisco. Additionally, the Company's oral abstract of the Phase 2 ARREST study has been selected by the American Association for the Study of Liver Diseases for inclusion in The Best of The Liver Meeting 2018. The ARREST study enrolled 247 NASH patients who were overweight/obese and had prediabetes/diabetes with HbA1C at baseline of 6.6%. More than 50% were hypertensive and had dyslipidemia. Baseline histology demonstrated a population with advanced disease, with 60% having stage 2 and 3 fibrosis and 70% having NASgreater than or equal to5. In this one-year study, Aramchol showed liver fat reduction, biochemical improvement, NASH resolution and fibrosis reduction. Results favored the 600mg dose with a dose response pattern. In particular, compared to placebo, the Aramchol 600mg arm achieved the following endpoints: NASH resolution without worsening of fibrosis - a regulatory approval endpoint in NASH Phase 3 trials Fibrosis stage reduction without worsening of NASH - a regulatory approval endpoint in NASH. Phase 3 trials. Decrease in ALT and AST. Better glycemic control. Aramchol showed excellent safety and tolerability profiles with a low discontinuation rate, no weight loss and no change in lipid parameters.

11:37 EDT Microsoft, Nielsen announce strategic alliance for retail innovation - Nielsen (NLSN) and Microsoft (MSFT) released details around a newly developed, enterprise data solution that they say "democratizes one of the largest consumer data sets in the world," namely that of the retail industry. John Tavolieri, President, U.S. FMCG and Retail and Chief Technology and Operations Officer at Nielsen, said, "It's our priority to make sure clients are maximizing their data assets, so Nielsen and Microsoft are breaking down the silos of the status quo. We are helping the retail industry reimagine its approach to data by creating a truly open and global environment of collaboration, encouraging companies to evolve beyond mere data management. Adopting a holistic data strategy will be the only way to win in FMCG and retail." The joint Microsoft and Nielsen solution is live today and through this strategic alliance, the two companies will continue to work toward a mutual vision of an open and connected data universe, empowering a new generation of solutions for the FMCG retail marketplace, they stated.

11:32 EDT PlayerUnknown's Battlegrounds, coming to PS4 next month - In a blog posting by Joon H. Choi Development Project Manager at Sony said: "Hey everyone, today we are thrilled to unveil the exciting announcement that PlayerUnknown's Battlegrounds is officially coming to PlayStation 4! Bringing PUBG to the PS4 has been an ambitious project for us, and we are beyond thrilled to finally be sharing this news with the world. PUBG will launch on December 7 with three iconic maps - Erangel, Miramar, and Sanhok - with the highly anticipated snow-themed map coming this winter. The game will include all major features like custom matches, ranked system, event mode, Trophies, and much, much more. Today, we're kicking off pre-order sales with various options" Reference Link

11:27 EDT Citi to move 1,1000 employees to make room for Amazon in Long Island City Tower - Citi (C) announced that it will move approximately 1,100 colleagues out of its space at One Court Square in Long Island City over the first half of next year to make room for Amazon (AMZN) to establish its new headquarters in New York. Citi currently occupies about one million square feet in One Court Square and is accelerating plans to consolidate colleagues at its Tribeca headquarters and other locations. About 3,000 Citi colleagues currently work in the building.

11:07 EDT Boeing reports 2018 total net orders of 642 through October 31 - Boeing this morning reported its 2018 net orders through October 31, 2018. The company posted 453 net orders for 737, 14 orders for 747, 38 orders for 767, 28 orders for 777 and 109 orders for 787 for a total of 642.

10:59 EDT JBG Smith announces Amazon selects its assets for HQ location - JBG Smith (JBGS) announced that Amazon (AMZN) has selected JBG Smith as its partner to house and develop a new headquarters location at National Landing in Arlington, Virginia. JBG Smith reached an agreement for exclusivity and negotiations that will give Amazon exclusive rights to lease space in several JBG Smith buildings and to purchase land owned by JBG Smith in Northern Virginia's National Landing, where one of the new Amazon headquarters will be located. "This decision represents the culmination of an exhaustive search on the part of Amazon and an extraordinary effort by the JBG Smith team, Arlington County, the City of Alexandria and the Commonwealth of Virginia," the company said. Key terms of the proposed Amazon HQ at National Landing transaction include the following steps expected to be taken by Amazon: Lease approximately 500,000 square feet of existing office space at 241 18th Street S., 1800 South Bell Street, and 1770 Crystal Drive; Purchase Pen Place and Met 6, 7, 8 land in JBG SMITH's Future Development Pipeline with Estimated Potential Development Density of up to 4.1 million square feet. JBG SMITH has the right to time the expected closings of the land parcel sales to facilitate 1031 exchange opportunities; Engage JBG Smith as its development partner, property manager, and retail leasing agent; Commence predevelopment and planning of the first office building in 2018, with construction expected to begin in 2019.

10:40 EDT General Electric shares up 4% to $8.29 following Baker Hughes agreements

10:01 EDT Geospace announces acquisition of OptoSeis fiber optic technology - Geospace Technologies announced that it has acquired from PGS Americas all the intellectual property and related assets of PGS's OptoSeis fiber optic sensing technology business. Geospace intends to retain each of the PGS's employees dedicated to the OptoSeis business and will continue operating the business in Austin, Texas. Terms of the transaction include an initial cash payment at closing of $1.8M and contingent cash payments of up to an additional $23.2M over a five-and-a-half year earn-out period. The contingent cash payments will be derived from revenues generated during the earn-out period from products and services utilizing the OptoSeis fiber optic technology.

10:00 EDT Daqo New Energy falls -13.9% - Daqo New Energy is down -13.9%, or -$3.47 to $21.53.

10:00 EDT VelocityShares 3x Long Natural Gas ETN rises 9.9% - VelocityShares 3x Long Natural Gas ETN is up 9.9%, or $13.66 to $152.08.

10:00 EDT Cypress Energy rises 14.8% - Cypress Energy is up 14.8%, or 83c to $6.42.

09:49 EDT Amazon confirms New York, Northern Virginia selected for new headquarters

09:47 EDT Eventbrite falls -5.2% - Eventbrite is down -5.2%, or -$1.60 to $29.38.

09:47 EDT Cypress Energy rises 7.7% - Cypress Energy is up 7.7%, or 43c to $6.02.

09:47 EDT Beazer Homes rises 21.6% - Beazer Homes is up 21.6%, or $1.80 to $10.12.

09:42 EDT Home Depot doesn't see slowdown in sales in any U.S. region

09:33 EDT Alliance MMA to remain listed on Nasdaq - Alliance MMA announced that on November 9, 2018, the Nasdaq Stock Market notified Alliance MMA that the NASDAQ Hearings Panel granted the company's request for continued listing on the NASDAQ Capital Market, subject to the company's satisfaction of certain conditions, including interim funding milestones. In accordance with the NASDAQ's decision, subject to compliance with the interim funding milestones, the company has until February 25, 2019 to complete its acquisition of SCWorx and demonstrate that the combined company satisfies the requirements for initial listing on The Nasdaq Capital Market. Although the company is endeavoring to satisfy the interim funding milestones and other conditions of the Panel's decision, there is no assurance that the company will be able to do so. If the company is unable to fully comply with the terms of the Panel's decision, the company's common stock could be delisted from The NASDAQ Capital Market which would have a material adverse effect on the company's business and on the trading of its common stock.

09:32 EDT Tyson Foods says will have benefit of a full year of API and Tecumseh in FY19 - Says prepared foods had a record Q4 in terms of operating income. Says anticipates Keystones accretion to EPS in 2021. Says October was light, but November was a solid month. Says pricing is a headwind. Says African swine fever has potential to be a serious even and make a significant impact, but has not done so yet. Comments taken from Q4 earnings conference call.

09:27 EDT VirnetX: Gabriel Secure communications suite uncompromised by security testing - VirnetX announced that on October 26, 2018, it received a Gabriel Platform Testing Report from J3 Digital Forensics LLP, a New York based professional services team with technical expertise and diverse resources in digital forensics. The report, which focused on validation testing of five of Gabriel's Secure Collaboration Suite technical claims, concluded that J3 Digital Forensics was unable to compromise Gabriel's encrypted communications environment, within a single secure enclave or between multiple secure enclaves. During testing the security testing team did not gain unauthorized access to secure communications content, Gabriel user accounts, or secure servers. The results showed that the testing team was unable to compromise Gabriel's encrypted communication tunnel.

09:23 EDT CNN reports filing lawsuit against President and top aides over Acosta incident - CNN Communications announced via Twitter that the AT&T unit has filed a lawsuit against President Donald Trump and his top aides, stating that "the White House has violated CNN and [Jim] Acosta's First Amendment rights of freedom of the press and Fifth Amendment rights to due process." Reference Link

09:19 EDT Home Depot: '#1 destination for hand tools' after Stanley B&D addition - Home Depot (HD) management said Home Depot is the "number 1 destination for hand tools" after the addition of Stanley Black & Decker (SWK) tools. Management also noted they are excited about the upcoming holiday season and this year's gift center will be the "best yet." Comments provided during Q3 earnings conference call.

09:15 EDT Ridgedale Partners urges BBX Capital to address discount to intrinsic value - Ridgedale Partners, a significant shareholder in the common stock of BBX Capital, has issued an open letter to Alan B. Levan, Chairman of the Board and Chief Executive Officer of BBX, calling for the Board to immediately take action to address the large discount to intrinsic value represented by the trading price of the company's equity. In the letter, Ridgedale outlined a specific, accretive proposal that would allow the company to repurchase the Class B Common Stock at an almost 50% premium to the market price of the Class A Common Stock, thereby removing the overhang of the "Levan Discount" on the trading price and allowing the true economic owners to take steps to realize the significant value of the company's assets. Reference Link

09:09 EDT Sterling awarded $18.6M Burlington Northern Santa Fe Railway Company project - Sterling Construction Company announced that its subsidiary, J. Banicki Construction was awarded a contract by the Burlington Northern Santa Fe Railway Company. The $18.6M project at the Glendale Intermodal Facility Terminal in Glendale, AZ involves rebuilding the infrastructure and expanding the capacity of the container storage yard. In addition, Banicki will construct upgraded storm drain piping systems along with a new wash and maintenance facility. Construction will start this month and is expected to be completed in December of 2019.

09:07 EDT Simply Good Foods announces $50M stock repurchase program - Simply Good Foods announced that its board has adopted a $50M stock repurchase program. The company will remain focused on organic growth and value enhancing M&A opportunities and intends to continue to prioritize use of its cash for these purposes. The primary goal of the repurchase program is to allow the company to opportunistically repurchase its shares to reduce its outstanding share count, which recently increased due to the exercise of a significant portion of the company's public warrants prior to their call for redemption by the company.

09:05 EDT QTS Realty announces agreement with TruBridge - QTS Realty Trust (QTS) announced an agreement with TruBridge, a wholly owned subsidiary of CPSI (CPSI), to provide hybrid colocation services supporting the expansion of the HIPAA compliant TruBridge Cloud Services utilized by healthcare organizations across the CPSI family of companies.

09:03 EDT Maxar Technologies' MDA signs two contracts with OHB System, Tesat - MDA, a Maxar Technologies company, announced that it has signed two contracts with a total value of more than C$15 million with OHB System AG and Tesat-Spacecom GmbH & Co. KG for multiple advanced communication subsystems that will be used on Germany's Heinrich Hertz communications satellite.

09:01 EDT Vail Resorts announces wind energy contract - Vail Resorts announced a long-term wind energy contract to purchase the equivalent amount of electricity needed to power 100% of its estimated FY19 North American operations by 2020. Additionally, Vail Resorts announced a partnership with Eco-Products to supply all of its North American restaurants with compostable and recycled-content items and eliminate conventional single-use plastics, a process which will begin during the 2018-19 winter season.

08:51 EDT TransAlta names Christophe Dehout as CFO, succeeding Brett Gellner - TransAlta announced the appointment of Christophe Dehout to CFO. Effective immediately, he will replace Brett Gellner, who will continue to serve as Chief Strategy and Investment Officer of TransAlta. Most recently, Dehout was at Engie SA as Project Director and Deputy Head of Performance and Group Transformation where he contributed to the successful closing of the transfer of Engie's LNG division to Total SA.

08:47 EDT Mindbody appoints Sunil Rajasekar as CTO - Mindbody (MB) announced that veteran technology executive, Sunil Rajasekar, has been named CTO. Rajasekar will report directly to Mindbody CEO and Co-founder, Rick Stollmeyer. Rajasekar most recently served as eBay's (EBAY) vice president and general manager leading engineering and product development. Prior, he was CTO of Lithium Technologies. He also spent nearly nine years at Intuit in the small business division and as vice president in its financial services division focusing on web, mobile banking and financial management tools.

08:40 EDT FuelCell expands board to nine, names James England chairman - FuelCell announced a number of changes to its board and certain new corporate governance principles. As part of the company's commitment to good corporate governance practices and principles and in furtherance of board refreshment initiatives, the FuelCell Energy board has adopted a mandatory director retirement age of 75 and set a director term limit of 12 years, subject to certain exceptions necessary to ensure an orderly transition of board members and leadership positions. James England has been appointed the new chairman of the board, replacing John Rolls, who has served on the board since 2000 and will continue to serve on the board, served as lead independent director from 2007-2011, and has been Chairman since 2011. Joining the FuelCell Energy board are Jason Few and Christina Lampe-Onnerud. committee memberships are also being adjusted with the addition of the new directors.

08:36 EDT Chaparral Energy raises FY STACK production guidance by 7% - Chaparral increased its full year 2018 STACK production guidance by 7% to 14,250 - 14,750 Boe/d and increased total company production guidance by 5% to 20,250 - 20,750 MBoe/d. This increase in production is driven by strong STACK well results and includes estimated fourth quarter STACK production of 16,250 - 17,250 Boe/d and total company production of 21,250 - 22,250 Boe/d. The company also decreased its full year LOE/Boe guidance by 6% to $7.25 - $7.65. This decrease is primarily a result of increased production, the sale of higher cost, non-core properties and sustainable saltwater disposal cost reductions.

08:35 EDT CyrusOne promotes John Gould to Chief Commercial Officer - CyrusOne announced that Tesh Durvasula has been promoted to President, Europe, charged with oversight of the European organization and leadership of CyrusOne's expansion in a region with strong, fast-growing data center demand. Durvasula, who currently serves as Executive Vice President, or EVP, and Chief Commercial Officer, has been with CyrusOne for six years, a period during which the Company's revenue has nearly quadrupled. In addition, John Gould has been promoted from EVP, Global Sales, to EVP & Chief Commercial Officer, with responsibility for leading the sales and marketing organizations. Durvasula and Gould will both report directly to Gary Wojtaszek, President and CEO of CyrusOne. These promotions are effective December 1, 2018.

08:34 EDT BGC Partners's board approves distributio of all Newmark shares - BGC Partners (BGCP) announced that its Board of Directors has approved the distribution of all of the shares of Newmark Group (NMRK) held by the Company to stockholders of BGC. The Company will distribute these Newmark shares through a special pro rata stock dividend. Spin-Off will be effective as of 12:01 a.m., New York City time, on November 30 to BGC stockholders of record as of the close of business on November 23.

08:32 EDT Bio-Rad wins USDA contract for pathogen detection testing products - Bio-Rad Laboratories announced that the company has been awarded a contract for iQ-Check real-time PCR pathogen detection test kits and the iQ-Check Prep Automation System from the United States Department of Agriculture's Food Safety and Inspection Service. The contract includes real-time PCR-based tests for pathogens that include Salmonella spp., Listeria monocytogenes, Campylobacter, Escherichia coli O157:H7, and Shiga toxin producing E. coli that may be found in raw meat and poultry, ready to eat meat and poultry, processed egg products, and other food products and environmental samples. Bio-Rad's iQ-Check real-time PCR test kits were selected based on their proven real-time PCR technology that uses highly specific patented DNA probes to detect pathogenic bacteria in a sample. USDA FSIS will also incorporate Bio-Rad's iQ-Check Prep automation system for high throughput sample processing and elevated traceability.

08:32 EDT CAE says outlook for FY19 'unchanged' - CAE's core markets benefit from secular growth and the Company expects to exceed underlying market growth in fiscal year 2019. In Civil, the Company expects to continue generating low double-digit percentage operating income growth as current momentum for its innovative training solutions translates into market share gains and new training customer partnerships. As well, Civil expects to maintain its leadership position in FFS sales. In Defence, the Company continues to expect mid to high single-digit percentage operating income growth as it delivers from backlog and continues to win opportunities from a large pipeline. CAE expects Healthcare to resume double-digit growth this year with its broader market reach, expanded offering, and the continued launch of innovative products. The Company expects revenue and profit to be weighted to the second half of the fiscal year, owing to the impact of the adoption of IFRS 15 as it relates to simulator product deliveries, and a five-week work disruption which preceded the successful negotiation of a new collective agreement of a four-year term and one-year option with CAE's manufacturing employees in Canada. The Company is currently working to accelerate production to mitigate the impact of this action. Funding growth opportunities remains CAE's top capital allocation priority and continues to be driven by and supportive of growing customer training outsourcings in its large core markets. CAE currently expects total annual capital expenditures to reach approximately $250 million in fiscal 2019. CAE prioritizes market-led capital investments that offer sustainable and profitable growth and accretive returns, and support its strategy to be the recognized worldwide training partner of choice. Management's expectations are based on the prevailing positive market conditions and customer receptivity to CAE's training solutions as well as material assumptions contained in this press release, quarterly MD&A and in CAE's fiscal year 2018 MD&A. In view of the expected timing of the transactions related to CAE's BAT acquisition, CAE's outlook for its current fiscal year 2019 remains unchanged.

08:18 EDT JPMorgan commits to $18/hour minimum wage in Washington, D.C. - JPMorgan Chase announced the grand opening of its first branch in Greater Washington, D.C. and made several new investments to increase economic and wage growth in the region. Earlier this year, the firm announced it would open 70 new branches, hire 700 new employees, commit $4B to regional home and small business lending and $500M to affordable rental housing and $25M in philanthropy to drive inclusive regional economic growth. Specifically, today, the firm is: Opening the first retail branch in Greater Washington at McPherson Square in Washington, D.C., offering a sneak peak of the new Anacostia location to community partners, and said it will open a total of six new branches by the end of the year, Making a $1.6M philanthropic investment to support underserved areas in the region, Hiring 80 new employees by the end of the year, and Increasing local wages to no less than $18/hour, up from $16.50/hour.

08:15 EDT Brookfield Business Partners trading resumes

08:10 EDT Taoping announces first overseas strategic cooperation in Canada - Taoping announced that it has entered into a strategic cooperation agreement with Canada-based Capital Green Tech & Trade Corp. to formally enter the overseas market. According to the agreement, as the local partner of TAOP, CG will operate TAOP sharing new media in Toronto, Canada.

08:09 EDT MTech and MJ Freeway announce "Akerna" as name after proposed merger - MTech Acquisition and MJ Freeway announced "Akerna" as the name of the Nasdaq-listed public company following the consummation of the proposed merger of MTech and MJ Freeway. MTech and MJ Freeway also announced that they will be attending the largest cannabis conference and expo in the world, The Marijuana Business Conference and Exposition taking place from November 14-16 at the Las Vegas Convention Center in Las Vegas, Nevada.

08:07 EDT CymaBay presents results from ongoing Seladelpar study at The Liver Meeting - CymaBay Therapeutics presented data from its ongoing Phase 2 study of seladelpar in patients with primary biliary cholangitis. Presentations were delivered during two late-breaking presentations yesterday at The Liver Meeting 2018 hosted by the American Association for the Study of Liver Diseases, as well as multiple additional clinical and pre-clinical presentations. Seladelpar is an orally administered, potent and selective peroxisome proliferator-activated receptor delta agonist currently in development for PBC and nonalcoholic steatohepatitis. Professor Chris Bowlus, MD, Division Chief of Gastroenterology and Hepatology, University of California at Davis Health, presented efficacy data on the first set of patients treated for 52 weeks and safety data on patients that received at least one dose of seladelpar in the ongoing open label Phase 2 PBC study. Eligible PBC patients with either an inadequate response, defined as alkaline phosphatase greater than 1.67 times the upper limit of normal, or intolerance to ursodeoxycholic acid ere randomized to daily seladelpar at 5 or 10 mg. After 12 weeks, patients on 5 mg could escalate to 10 mg if their AP treatment goal was not met. The primary efficacy outcome was the AP % change from baseline. At 52 weeks, the mean decreases in AP were -47% and -46% in the 5/10 and 10 mg groups, respectively. A key secondary outcome was the composite responder rate measured at week 52 where a responder was defined as a patient with AP less than1.67 x ULN, greater than or equal to15% decrease in AP, and total bilirubin less than or equal toULN. At 52 weeks, 59% and 71% of patients met the composite endpoint in the 5/10 and 10 mg groups, respectively. This composite responder rate is the primary endpoint in the global ENHANCE Phase 3 registration study that was recently initiated. The anti-cholestatic effect of seladelpar was further substantiated with normalization of AP levels at 52 weeks in 24% and 29% of patients in the 5/10 and 10 mg groups, respectively. Treatment with seladelpar also demonstrated a robust anti-inflammatory activity with median transaminase decreases of -31% and -33% in the 5/10 and 10 mg groups, respectively. Seladelpar appeared safe and well tolerated. Of the 119 patients that received at least one dose of seladelpar, 11 serious adverse events were documented and none were considered related to seladelpar. Three patients discontinued seladelpar, of which only one discontinuation, for a grade 1 gastroesophageal reflux, was deemed related to seladelpar. There was no transaminase safety signal, and importantly, there was no indication that seladelpar was associated with drug-induced pruritus.

08:06 EDT Essendant, Staples announce extension of tender offer for Essendant shares - Staples and Essendant announced that, pursuant to the Merger Agreement, Egg Merger Sub Inc. and Egg Parent Inc., affiliates of Staples, have extended the expiration time of the previously announced tender offer for all outstanding shares of Essendant's common stock to 5:00 p.m., New York City time, on November 19, 2018, unless the tender offer is further extended in accordance with the Agreement and Plan of Merger, dated as of September 14, 2018, by and among Essendant, Staples, Egg Parent and Egg Merger Sub. The tender offer was previously scheduled to expire at 5:00 p.m., New York City time, on November 12, 2018. The tender offer is being made pursuant to the Merger Agreement. Egg Merger Sub and Egg Parent expect the tender offer will be consummated promptly following the expiration time, subject to the satisfaction of the remaining closing

08:05 EDT Johnson Controls to sell Power Solutions business for $13.2B - Johnson Controls International (JCI) announced a definitive agreement to sell its Power Solutions business to Brookfield Business Partners (BBU) together with institutional partners, including Caisse de depot et placement du Quebec, in a cash transaction valued at $13.2B. Net cash proceeds are expected to be $11.4B after tax and transaction-related expenses. The company expects to deploy $3.0B-$3.5B of proceeds towards debt paydown and retain an investment grade credit rating. The remaining proceeds will be available to return to shareholders, with more specific details to be announced around the close of the transaction. In fiscal 2018, Power Solutions generated $8.0B in revenue and $1.68B in earnings before interest, taxes, depreciation and amortization, or "EBITDA". The transaction price of $13.2B represents a multiple of 7.9x trailing twelve month EBITDA. The transaction is expected to close by June 30, 2019, subject to customary closing conditions and required regulatory approvals. Power Solution's operating results will be reported in discontinued operations beginning in the first fiscal quarter of 2019. Johnson Controls chairman and CEO George Oliver said, "The sale of our Power Solutions business will create value for investors by streamlining our portfolio and giving us increased financial flexibility to strengthen our balance sheet, return capital to shareholders and create optionality in our Buildings business. This focused portfolio will allow us to capitalize on secular growth trends and to deliver strong financial performance through improved free cash flow conversion, lower capital intensity and continued margin expansion. With this transaction, Johnson Controls becomes a pure-play building technologies and solutions provider that is better positioned to lead the integration and evolution of the connected building and to capture strategic opportunities in the HVAC industry."

08:02 EDT Johnson Controls to sell Power Solutions business for $13.2B

07:54 EDT TG Therapeutics announces Phase 1 study of TG-1701 is open for enrollment - TG Therapeutics announced the first company sponsored Phase I study of its novel, orally available and covalently-bound Bruton Tyrosine Kinase, or BTK, inhibitor, TG-1701, is open for enrollment for patients with relapsed or refractory B-cell malignancies. The first cohort evaluating TG-1701 at a dose of 100 mg once-daily has been fully enrolled, and the first patient enrolled, a patient with relapsed/refractory Mantle Cell Lymphoma, or MCL, achieved a partial response, or PR, at the first efficacy assessment. The remaining two patients are too early to evaluate. This Phase I open label trial is designed to assess the safety, pharmacokinetics, pharmacodynamics and efficacy of TG-1701 in patients with non-Hodgkin's Lymphoma, or NHL and Chronic Lymphocytic Leukemia, or CLL. The trial is first evaluating TG-1701 as a single agent, with subsequent cohorts designed to evaluate the triple combination of TG-1701 with ublituximab, the company's novel glycoengineered anti-CD20 monoclonal antibody and umbralisib, the company's novel PI3K delta inhibitor, the combination referred to as "U2". The primary objective of the study is to determine the maximum tolerated dose, or MTD, of TG-1701, with secondary objectives including evaluation of efficacy.

07:49 EDT Eyenovia submits IND for MicroStat to FDA - Eyenovia announced that the FDA has accepted the company's investigational new drug, or IND, application to initiate Phase III trials of MicroStat for diagnostic mydriasis. MicroStat is a class fixed-combination of phenylephrine and tropicamide for in office mydriasis, a standard part of the approximately 80M comprehensive exams performed every year in the United States. In an earlier published Phase II study, MicroStat, in combination with the Optejet dispenser, demonstrated consistent micro-dose delivery while also achieving therapeutic levels necessary for pupil dilation. With the acceptance of the IND, Eyenovia expects to initiate the Phase III trials of MicroStat later this month.

07:45 EDT Tyson Foods increases Class A common stock quarterly dividend to 37.5c per share - The board of Tyson Foods increased the quarterly dividend previously declared on August 9, to 37.5c per share on Class A common stock and 33.75c per share on Class B common stock. The increased quarterly dividend is payable on December 14 to shareholders of record at the close of business on November 30. The board also declared a quarterly dividend of 37.5c per share on Class A common stock and 33.75c per share on Class B common stock, payable on March 15, 2019, to shareholders of record at the close of business on March 1, 2019. The company anticipates the remaining quarterly dividends in FY19 will be 37.5c per share of Class A and Class B stock, respectively. This results in an annual dividend rate in FY19 of $1.50 for Class A shares and $1.35 for Class B shares, or a 25% increase compared to the fiscal 2018 annual dividend rate.

07:33 EDT Brunswick files initial Form 10 regarding Life Fitness separation - Brunswick Corporation announced the filing of an initial Form 10 registration statement with the U.S. SEC in connection with the planned separation of the company's Fitness division into an independent, publicly traded company, to be named Life Fitness Holdings. The separation is expected to be tax-free to Brunswick shareholders for U.S. federal income tax purposes. "The filing of the Form 10 is an important step in the process to create two independent, market-leading companies executing distinct growth strategies in marine and fitness," said Brunswick Chairman and CEO Mark Schwabero. "The separation will allow each of the Marine and the Fitness businesses to continue to grow, innovate and provide their respective customers with high-quality solutions, while ensuring that the businesses are best positioned to realize their full value." As announced during its recent third quarter earnings call, Brunswick's Board of Directors has appointed Directors David Everitt and David Singer to oversee the Fitness division management team and operations along with the completion of the separation of the Fitness business.

07:28 EDT Baker Hughes, General Electric announce series of long-term agreements - Baker Hughes (BHGE) and General Electric Company (GE) jointly announced the entry into a series of long-term agreements that amend the commercial and technological relationships between the two companies. The Agreements focus on: Long-term collaboration on critical rotating equipment, including aeroderivative and heavy-duty gas turbine technology. BHGE access to GE Digital software and technology. A series of agreements relating to operations and pricing within BHGE Digital Solutions' Controls product line, pensions, tax matters and intercompany services costs. The BHGE Conflicts Committee, a subcommittee of the BHGE Board of Directors consisting solely of non-GE designated independent directors, approved the Agreements following the negotiations with GE. GE's Board of Directors also has approved the Agreements. BHGE and GE also agreed on a release from the lock-up restrictions under their stockholders agreement that previously prevented GE from disposing of shares of BHGE common stock until July 2019. BHGE and GE agreed to cooperate on a proposed sale by GE of part of its stake into the market and to a concurrent repurchase of another part of GE's stake by BHGE. Together, these transactions are expected to maintain GE's stake in BHGE above 50%. GE's remaining stake will be subject to a 180-day lock-up prohibiting further sales into the market without consent from the underwriting banks. Under the terms of the Agreements, BHGE has defined the parameters for long-term collaboration and partnership with GE on critical rotating equipment technology. BHGE and GE have agreed to form a Joint Venture to provide aeroderivative engine services and product management for use in the oil and gas and industrial spaces. The jet engine technology is mainly used in BHGE's LNG, on-and-offshore production, pipeline and industrial segments within its Turbomachinery & Process Solutions segment, and by GE in its power generation business. Through the new JV, BHGE will continue to benefit from world-class jet engine technology. BHGE and GE will contribute certain assets and inventory into the JV and both companies will jointly control operations. The JV will have a supply and strategic collaboration agreement with GE Aviation with revised and extended pricing arrangements. In parallel, BHGE has also entered into long-term supply and distribution agreements with GE for heavy-duty gas turbine technology at the current pricing levels. The agreements will become effective at the later of July 3, 2019 and the date on which GE and its direct subsidiaries cease to beneficially own, in the aggregate, more than 50% of the outstanding voting power of BHGE's outstanding common stock. The aeroderivative and heavy-duty gas turbine technologies are important components of BHGE's TPS offerings and the long-term agreements provide clarity on the commercial approach and customer fulfilment. As part of the Agreements, BHGE and GE Digital have agreed to extend their exclusive supplier relationship for digital oil and gas applications. BHGE and GE agreed to maintain current operations and pricing levels with regards to the Controls product line BHGE offers within its Digital Solutions segment for the four years commencing on the Trigger Date. GE will transfer to BHGE certain UK pension liabilities on what is intended to be a fully funded basis. No liabilities associated with GE's primary U.S. pension plan will be transferred to BHGE. The current Tax Matters Agreement with GE that was negotiated at the time of the merger between Baker Hughes Incorporated and GE Oil & Gas in July 2017 will remain largely in place and both companies retain the ability to monetize certain tax benefits.The intercompany services fee that BHGE agreed to pay to GE as part of the Merger will be reduced over time beginning on January 1, 2019. BHGE and GE agreed to amend the terms of their stockholders agreement to provide that GE's right to nominate five directors to BHGE's nine-person board will continue until the Trigger Date, and GE will have a right to nominate one director to the BHGE board following the Trigger Date until GE ceases to own at least 20% of the voting power of BHGE's outstanding common stock.

07:23 EDT Brookfield Business Partners trading halted, news pending

07:16 EDT Shire files supplemental NDA for Gattex for treatment of SBS - Shire announced the FDA has accepted for filing the supplemental new drug application, or NDA, to extend the indication of Gattex for Injection to pediatric patients with Short Bowel Syndrome, or SBS, who are dependent on parenteral support. Gattex is a prescription medicine indicated for the treatment of adult patients with SBS who are dependent on parenteral support. Shire submitted the supplemental new drug application to the FDA on September 11. The U.S. FDA is expected to reach a decision in March 2019. The application included data from two core, completed Phase 3 studies as well as interim data from two ongoing extension studies. The Phase 3 studies included a 24-week, double-blind, multi-center, multi-national trial and a 12-week, open-label, multi-center study, both of which evaluated the efficacy, safety, and pharmacodynamics of Gattex in children with SBS who were stable on their required parenteral nutrition/ intravenous support that provided at least 30% of caloric and/or fluid/electrolyte needs for at least three months prior to screening.

07:12 EDT Syros presents preclinical combination data on SY-1365 - Syros Pharmaceuticals announced preclinical data on SY-1365, its first-in-class selective cyclin-dependent kinase 7 inhibitor, showing synergistic anti-tumor activity in combination with carboplatin, a standard-of-care therapy, in models of ovarian cancer and providing a mechanistic rationale for the ongoing investigation of the combination in the Phase 1 clinical trial of SY-1365. The Company also announced the first preclinical data on its class of highly selective oral CDK7 inhibitors, which showed significant anti-proliferative activity in preclinical models of breast and ovarian cancers. The preclinical data presented at EORTC-NCI-AACR provide a strong mechanistic rationale for the ongoing clinical investigation of SY-1365 in combination with carboplatin in ovarian cancer patients. Homologous recombination deficiency, a cellular defect caused by the disruption of normal DNA damage repair processes, sensitizes cells to treatment with DNA repair inhibitors, including PARP inhibitors and DNA-damaging agents such as carboplatin. In preclinical models of ovarian cancer, SY-1365 was shown to inhibit DNA repair and decrease the expression of homologous recombination repair genes, which are important for repairing harmful breaks in DNA. These data suggest that SY-1365 induces an HRD-like state, which may result in enhanced sensitivity to DNA-damaging agents and DNA repair inhibitors. Consistent with the proposed mechanism-of-action, SY-1365 demonstrated synergy with carboplatin in ovarian cancer cell lines and demonstrated greater anti-tumor activity in combination with carboplatin in xenograft models of ovarian cancer than either agent alone.Syros is currently conducting a Phase 1 clinical trial assessing the safety and efficacy of SY-1365 as a single agent and in combination with standard-of-care therapies in multiple ovarian and breast cancer patient populations. The ongoing trial includes a study cohort evaluating SY-1365 in combination with carboplatin in ovarian cancer patients who have relapsed after one or more prior therapies. Syros created a suite of highly selective and potent orally available CDK7 inhibitors. The preclinical data at EORTC-NCI-AACR detail for the first time the selectivity, potency and anti-tumor activity of these inhibitors. Using a representative member of Syros' suite of oral CDK7 inhibitors, these data show: 200- to 1,200-fold greater selectivity for CDK7 over other members of the CDK family, including CDK2, CDK9 and CDK12. Robust anti-proliferative activity in triple negative breast cancer and ovarian cancer cell lines, which was associated with the induction of apoptosis and cell cycle arrest. Strong correlation between biochemical potency, CDK7 target engagement and tumor growth inhibition. Substantial anti-tumor effects in multiple cell-line and patient-derived xenograft models of triple negative breast and ovarian cancers.These data helped support the selection of SY-5609 as the Company's next development candidate. Syros is currently advancing SY-5609 into Investigational New Drug application-enabling preclinical studies.

07:07 EDT JetBlue reports preliminary October traffic up 9.5% - JetBlue Airways Corporation reported its preliminary traffic results for October 2018. Traffic in October increased 9.5% from October 2017, on a capacity increase of 8.9%. Load factor for October 2018 was 82.9%, an increase of 0.5 points from October 2017. JetBlue's preliminary completion factor was 99.4% and its on-time performance was 78.8%.

07:06 EDT Aravive: AVB-S6-500 met endpoints in Phase 1 clinical trial - Aravive announced detailed results of its first-in-human Phase 1 clinical trial of AVB-S6-500 in healthy volunteers. As previously announced, the trial met the safety and tolerability endpoints for the trial and demonstrated clinical proof-of-mechanism for AVB-S6-500 in neutralizing GAS6, a key molecule in the AXL cancer survival pathway. These detailed data are being presented today in a poster presentation at the Molecular Targets and Cancer Therapeutics 2018 EORTC-NCI-AACR Symposium. The Phase 1 clinical trial was designed to assess safety, pharmacokinetics and pharmacodynamics of single ascending and repeat doses of AVB-S6-500. The clinical trial dosed 42 healthy volunteers in 5 dose cohorts. The single ascending dose portion consisted of 4 sequential dose escalation cohorts, whereas the repeat dose portion consisted of a single dose cohort receiving 4 weekly doses. Drug levels and serum GAS6 levels were assessed using Aravive's proprietary PD assay. Use of this proprietary PD assay expedited the AVB-S6-500 development program by guiding dose selection for future trials in cancer patients. This strategy minimizes administration of sub-pharmacologically active doses to cancer patients and identifies different dosing regimens to complement those of combination chemotherapy. The ability to test potential pharmacologically active doses from the start of the Phase 1b clinical trial offers the potential to assess signs of efficacy earlier in development. There were no serious adverse events and AVB-S6-500 was well tolerated across all doses. Serum GAS6 levels were suppressed for 22 and 29 days following single doses of 5 mg/kg and 10 mg/kg, respectively. Weekly administration of 5 mg/kg resulted in suppression of sGAS6 in 4 out of 6 subjects for at least 3 weeks after the fourth dose. Preclinical PK/PD modeling with Phase 1 healthy volunteer data and simulating increases in sGAS6 suggested that dosing regimens of 5 mg/kg every week or 10 mg/kg every other week would abrogate sGAS6 levels in cancer patients. Based on these data, Aravive has selected the 10 mg/kg every other week as the initial dose in the Phase 1b clinical trial of AVB-S6-500 in platinum-resistant recurrent ovarian cancer. The Phase 1b clinical trial of AVB-S6-500 in combination with standard of care chemotherapy in platinum-resistant recurrent ovarian cancer is expected to enroll its first patient before the end of 2018.

07:04 EDT FDA concludes review of IND for Sutro Biopharma's STRO-002 - Sutro Biopharma announced that the FDA has concluded their 30-day review of the Investigational New Drug, or IND, application for STRO-002 to be evaluated in a Phase 1 clinical study as a potential treatment for ovarian and endometrial cancer. The antibody-drug conjugate STRO-002 targets folate receptor-alpha, a cell-surface protein expressed in 80% of ovarian and endometrial cancers.

07:04 EDT Bovie Medical announces future retirement of CFO Jay Ewers - Bovie Medical announced that Jay Ewers, CFO, Treasurer and Secretary, intends to retire. The company has initiated a search for a new CFO and Ewers is committed to remaining in his current role until a successor is found. Following the appointment of a successor, Jay intends to continue to provide support in order to facilitate an orderly transition.

07:00 EDT EyeGate reports data from study evaluating OBG in patients after PRK surgery - EyeGate announced top-line data from its study evaluating the potential of EyeGate's Ocular Bandage Gel, or OBG, to help clinicians better manage corneal epithelial defects in patients following photorefractive keratectomy, or PRK, surgery, compared to current standard of care. The PRK study enrolled 45 subjects undergoing a bilateral PRK procedure. The trial was designed to assess safety and efficacy by comparing two dosing regimens of EyeGate's OBG to the current standard of care, a bandage contact lens plus artificial tears. Both of the OBG dosing regimens outperformed the standard of care in the number of eyes healed at day 3 and day 4 post-surgery. At day 3, 73% and 87% of eyes receiving the two OBG treatment regimens were completely healed compared with 67% for standard-of-care. At day 4 post-surgery, 100% in both OBG treatment groups were completely healed, vs. 87% in the standard-of-care comparator group. Additionally, the maximum wound size was 67% and 49% smaller at day 2 post-surgery for the two OBG groups compared to the standard-of-care. Importantly, there were no safety concerns observed in any group.

06:57 EDT EyeGate announces top-line data from OBG study - EyeGate Pharmaceuticals announced top-line data from its study evaluating the potential of EyeGate's Ocular Bandage Gel, or OBG, to help clinicians better manage patients with punctate epitheliopathies, or PE, due to pathologies such as dry eye. This controlled, masked study enrolled 30 subjects with PE due to pathologies such as dry eye. OBG eye drops achieved a statistically significant improvement (p-value less than 0.05) in symptoms as quickly as day 7 and also at day 28. Additionally, at day 28 OBG realized a 30% decrease from baseline vs. only 4% for the comparator group. Symptomology was assessed using a patient reported outcome questionnaire based on comfort in both eyes. Staining measurements of the central cornea, a region dense in nerve endings, showed a reduction of up to 40% for OBG vs. up to 23% for the rewetting eye drop arm when combining the results from both eyes, which we believe better correlates clinically with the symptomology results. Staining measurements of the total cornea did not show a significant difference in reduction between the two arms with 26% for OBG vs. 23% for the rewetting eye drop at day 7. Importantly, there were no safety concerns observed in any group.

06:55 EDT Walmart says Flipkart CEO Binny Bansal resigns after misconduct probe - In a regulatory filing, Walmart said: "Earlier today, Binny Bansal announced his resignation as CEO of Flipkart Group, effective immediately. Binny has been an important part of Flipkart since co-founding the company, but recent events risked becoming a distraction and Binny has made a decision to step down. His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough. While the investigation did not find evidence to corroborate the complainant's assertions against Binny, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign. Binny has been contemplating a transition for some time and we have been working together on a succession plan, which has now been accelerated. Going forward, Kalyan Krishnamurthy will continue to be CEO of Flipkart, which will now include Myntra and Jabong, continuing to operate as separate platforms within the Flipkart business. Ananth Narayanan will continue providing great leadership as CEO of Myntra and Jabong, and will report into Kalyan. Sameer Nigam will continue leading PhonePe as CEO. Both Kalyan and Sameer will report directly into the board. As we look ahead, we have full confidence in the strength and depth of leadership across the company. We remain committed to investing for the long-term and are supportive of the leadership team's desire to evolve into a publicly-traded company in the future." Flipkart is a majority-owned subsidiary of Walmart.

06:46 EDT Invagen announces agreement to acquire Avenue in two closing stages - InvaGen Pharmaceuticals, a subsidiary of the leading global pharmaceutical company Cipla, announced that it has entered into definitive agreements with two closing stages for a proposed acquisition of Avenue Therapeutics (ATXI), a Fortress Biotech (FBIO) company focused on the development and commercialization of intravenous Tramadol. The transaction will be subject to Avenue stockholders' and regulatory approvals, and other closing conditions. At the first stage closing, InvaGen or its affiliates will acquire, through the issuance by Avenue of new shares, shares representing a 33.3% stake in Avenue's capital stock on a fully diluted basis for $35M. Based on current assumptions, such stake is expected to consist of 5,833,333 shares of Avenue's common stock issued at $6.00 per share. Simultaneously with the closing of the stock issuance, InvaGen or its affiliates will appoint three members on Avenue's seven-member Board of Directors. At the second stage closing, InvaGen or its affiliates will acquire the remaining shares of Avenue's common stock, pursuant to a reverse triangular merger with Avenue remaining as the surviving entity, for up to $180M in the aggregate, which is currently expected to represent approximately $13.92 per share, subject to certain terms to be outlined in the Form 8-K and proxy statement to be filed by Avenue with the SEC in connection with the proposed transactions.

06:41 EDT Equitrans Midstream begins trading 'regular-way' on NYSE - Equitrans Midstream (ETRN) announced that it has completed the previously announced spin-off from EQT Corporation (EQT). As a standalone publicly traded company, Equitrans Midstream's common stock begins "regular-way" trading today on the NYSE under the symbol "ETRN."

06:37 EDT Genesee & Wyoming reports October traffic up 3.9% to 286,180 carloads - Genesee & Wyoming reported traffic volumes for October 2018. G&W's total traffic in October was 286,180 carloads, an increase of 10,863 carloads, or 3.9%, compared with October 2017. G&W's same railroad traffic in October increased 19,033 carloads, or 7.1%, compared with G&W's traffic in October 2017, excluding carloads from G&W's former Continental European intermodal business, which was sold in June 2018.

06:32 EDT A-Mark Precious Metals raises dividend 5% to 11c - The Board of Directors is increasing the regular quarterly dividend by 5% to 11 cents per share of common stock. The Q1 dividend, at the increased rate, will be payable on December 6 to stockholders of record at the close of business November 26.

06:22 EDT Bayer discloses more lawsuits over safety of Roundup weedkiller - The company said, "In connection with the crop protection product glyphosate, lawsuits from approximately 9,300 plaintiffs have been served in the United States as of October 30. 'We continue to believe that we have meritorious defenses and intend to defend ourselves vigorously in all of these lawsuits,' said CEO Werner Baumann. Speaking about the Johnson case, he said that the verdict is a single judgment by a court of first instance and is not binding for the other proceedings. Bayer considers the decision to be incorrect and will therefore file an appeal with the California Court of Appeal. Glyphosate is safe for use when used according to label instructions, as confirmed by more than 800 scientific studies, decades of practical experience with glyphosate and the assessments of regulatory authorities in over 160 countries." Reference Link

06:08 EDT Home Depot up 2.3% after reporting Q3 results

06:06 EDT Spirit Realty announces one-for-five reverse stock split - Spirit Realty Capital that its board approved a 1-for-5 reverse stock split of its outstanding shares of common stock. The reverse stock split is scheduled to take effect at approximately 5:01 p.m. Eastern Time on December 12. At the Effective Time, every five issued and outstanding shares of common stock of the company will be converted into one share of common stock of the company. The par value of each share of common stock will be increased from 1c to 5c per share, but the number of the company's authorized shares of common stock will remain unchanged. The shares are expected to begin trading on a split-adjusted basis at market open on December 13, 2018. Trading in the common stock will continue on the NYSE under the symbol "SRC" but the security will be assigned a new CUSIP number. No fractional shares will be issued in connection with the reverse stock split. Instead, each stockholder that otherwise would receive fractional shares will be entitled to receive, in lieu of such fractional shares, cash in an amount determined on the basis of the closing price of the company's common stock on the NYSE on December 12, 2018. The reverse stock split will apply to all of the company's outstanding shares of common stock as of the Effective Time. Stockholders of record will be receiving information from American Stock Transfer & Trust Company, the company's transfer agent, regarding their stock ownership following the reverse stock split and cash in lieu of fractional share payments, if applicable. Stockholders who hold their shares in brokerage accounts or "street name" are not required to take any action in connection with the reverse stock split.

06:05 EDT Elbit Imaging announces CMS updated reimbursement levels for MRgFUS indications - Elbit Imaging announced, further to its press release dated December 14, 2017, that the Centers for Medicare and Medicaid Services, or CMS, posted the final rule, updating the reimbursement levels for MRgFUS FDA approved indications. Effective Jan. 1, 2019, will be reimbursed at $12,500.50 for Medicare beneficiaries, if deemed medically appropriate. MRgFUS in the treatment of pain palliation of bone metastases will be reimbursed at $10,936. The Company holds approximately 75% of the share capital of Elbit Medical Technologies which, in turn, holds approximately 22% of the share capital in Insightec.

05:43 EDT YouTube CEO warns of unintended consequences of EU's Article 13 - YouTube CEO Susan Wojcicki, on the company's YouTube Creator Blog, warned of unintended consequences of EU's Article 13 and says YouTube may have to block videos in the EU to avoid liability under the new directive. She said "This creator economy is under threat from a section of the EU's efforts to revise its copyright directive, known as article 13, which holds internet companies directly responsible for any copyright infringement in the content shared on their platform. While we support the goals of article 13, the European Parliament's current proposal will create unintended consequences that will have a profound impact on the livelihoods of hundreds of thousands of people. The parliament's approach is unrealistic in many cases because copyright owners often disagree over who owns what rights. If the owners cannot agree, it is impossible to expect the open platforms that host this content to make the correct rights decisions. Take the global music hit "Despacito". This video contains multiple copyrights, ranging from sound recording to publishing rights. Although YouTube has agreements with multiple entities to license and pay for the video, some of the rights holders remain unknown. That uncertainty means we might have to block videos like this to avoid liability under article 13. Multiply that risk with the scale of YouTube, where more than 400 hours of video are uploaded every minute, and the potential liabilities could be so large that no company could take on such a financial risk. We have already taken steps to address copyright infringement by developing technology, like our Content ID programme, to help rights holders manage their copyrights and earn money automatically. More than 98 per cent of copyright management on YouTube takes place through Content ID. The consequences of article 13 go beyond financial losses. EU residents are at risk of being cut off from videos that, in just the last month, they viewed more than 90bn times. Those videos come from around the world, including more than 35m EU channels, and they include language classes and science tutorials as well as music videos."

05:33 EDT Marsh & McLennan to combine specialty unit with JLT Specialty - Marsh, a global leader in insurance broking and innovative risk management solutions, today announced the formation of Marsh-JLT Specialty. Marsh-JLT Specialty will be a new specialty business within Marsh that combines the specialty teams of Marsh and Jardine Lloyd Thompson Group plc, or JLT, effective upon closing of the transaction between Marsh's parent company, Marsh & McLennan Companies and JLT, which remains subject to the receipt of certain antitrust and financial regulatory approvals. "It's exciting to begin planning for the integration of Marsh and JLT. With the formation of Marsh-JLT Specialty, we will be well positioned to grow our specialty business through the combined value proposition of the two firms," said John Doyle, President and CEO of Marsh. "While our brand is Marsh, Marsh-JLT Specialty will leverage the exceptional reputations of both firms' specialty units with clients that require specialized products and services." In addition to becoming Vice Chairman of Marsh & McLennan Companies and a member of the Marsh & McLennan Executive Committee, Dominic Burke, currently CEO of JLT Group, will become Chairman of Marsh-JLT Specialty. He will continue to be located in London. Lucy Clarke, CEO of JLT Specialty, will become President, Marsh-JLT Specialty reporting to Mr. Doyle. In this London-based role, Ms. Clarke will be directly responsible for Marsh-JLT Specialty's Energy, Credit, Marine, Financial and Professional, Private Equity and M&A Construction, and Aerospace business worldwide. Ms. Clarke will become a member of the Marsh Executive Committee. Mark Drummond Brady, Deputy Group CEO of JLT Group, will become Vice Chairman of Marsh, reporting to Mr. Doyle. He will continue to be located in London. Mr. Drummond Brady will become a member of the Marsh Executive Committee.