Stockwinners Market Radar for December 07, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:25 EDT Jury finds Monster Beverage drinks do not cause cardiac arrhythmias - Monster Beverage said that on Thursday, December 6th, a jury in a California Superior Court in Riverside, California unanimously found that Monster Energy drinks do not cause cardiac arrhythmias or cardiac arrest. The case was Bledsoe v. Monster. "This is the first case of this type to ever go to verdict and I am pleased the jury listened to the medical and scientific evidence and followed the law," said Marc P. Miles of Shook, Hardy & Bacon. "After years of unsupported allegations regarding the safety of energy drinks, the jury needed only fifteen minutes to reach this finding."

17:42 EDT Federal Reserve approves Cadence Bancorp buyback and State Bank Financial deal - Cadence Bancorporation announced that it has received regulatory approval from the Federal Reserve to complete its pending stock-for-stock transaction with State Bank Financial Corporation, which will create a combined organization with $17B in assets, $13B in loans, $14B in deposits and approximately 98 branches serving Texas, Georgia, Florida, Alabama, Tennessee and Mississippi, based on the companies' balance sheets as of September 30, 2018. Cadence has now received all regulatory approvals required to consummate the proposed transaction. In addition, the Federal Reserve approved Cadence's previously announced share repurchase program under which Cadence may repurchase up to $50 million of its shares of common stock. The merger is expected to be completed on December 31, 2018, subject to the satisfaction of customary closing conditions.

17:25 EDT Abrams Capital reports 5.1% passive stake in Akebia

17:17 EDT Akorn vows to rebuild shareholder value as independent company - In a statement tonight, Akorn said it "will move forward and rebuild shareholder value as an independent company following the disappointing decision from the Supreme Court of the State of Delaware upholding the lower court's decision to allow Fresenius Kabi AG to terminate the April 2017 merger agreement."

17:16 EDT Court finds Monster energy drinks don't cause cardiac arrhythmias, arrest - Monster Beverage Corporation reported that on Thursday, December 6, a jury in a California Superior Court in Riverside, California unanimously found that Monster Energy drinks do not cause cardiac arrhythmias or cardiac arrest. The case was Bledsoe v. Monster.

17:16 EDT Hillenbrand announces new $200M stock buyback - Hillenbrand announced today that the board authorized a new share repurchase program of up to $200 million in replacement of the company's prior stock repurchase program. The authorization is effective immediately. As of September 30, 2018, the company had completed approximately $160.4 million in share repurchases under the prior program. The new $200 million program supports Hillenbrand's overall capital allocation strategy, which remains unchanged. The share repurchase plan does not change the company's commitment to invest in the business organically and in strategic M&A.

17:06 EDT Delaware Supreme Court rules against Akorn in Fresenius merger deal - Akorn said it will move forward and rebuild shareholder value as an independent company following the disappointing decision from the Supreme Court of the State of Delaware upholding the lower court's decision to allow Fresenius Kabi AG to terminate the April 2017 merger agreement. With the litigation process concluded, Akorn's Board of Directors announced that it is engaged in a formal search for a new chief executive officer to lead the company into its next phase. Current CEO Raj Rai has decided to retire and will assist the board to ensure a smooth transition and remain in his role until the hiring date of the new chief executive. Akorn added that despite misleading allegations made during the litigation process to damage its reputation among various stakeholders, Akorn has received several new Abbreviated New Drug Application approvals from the Food and Drug Administration. The company also continues to have strong customer relationships and engaged employees who are dedicated to its success.

17:03 EDT Synovus, FCB Financial receive regulatory approval for merger - Synovus (SNV) and FCB Financial (FCB) jointly announced that Synovus has received regulatory approval from the Federal Reserve Board and the Georgia Department of Banking and Finance to complete the merger with FCB Financial. The merger of FCB into Synovus is expected to be completed on or about January 1, 2019, subject to the satisfaction of customary closing conditions. Transition of FCB systems, customers, branches, and branding to Synovus is expected during Q2 of 2019.

16:54 EDT United Continental's Shapiro acquires 30,000 common shares - In a regulatory filing, United Continental director Edward Shapiro disclosed the acquisition of 30,000 common shares of the company in two transactions. The first transaction of 25,000 shares was bought at $92.9198 per share, while the second transaction of 5,000 shares was bought at $90.80 per share.

16:39 EDT Facebook increases stock repurchase program by $9B - In a regulatory filing, Facebook disclosed that its board approved an increase of $9.0B in the amount authorized under the company's share repurchase program. The board previously authorized repurchases of up to $15.0B of the company's Class A common stock under the program since it commenced in 2017, and this increase is incremental to the prior authorizations. The repurchase program does not have an expiration date and the timing and actual number of shares repurchased depend on a variety of factors, including price, general business and market conditions, and other investment opportunities.

16:13 EDT Morgan Stanley reports 5% passive stake in PetMed Express

16:09 EDT BlackRock reports 11.8% passive stake in Arcosa

16:08 EDT BlackRock reports 10.4% passive stake in Laredo Petroleum

16:00 EDT Amgen raises quarterly dividend 10% to $1.45 per share - Amgen announced that its board of directors declared a $1.45 per share dividend for the first quarter of 2019. The dividend will be paid on March 8, 2019, to all stockholders of record as of the close of business on Feb. 15, 2019. This represents a 10% increase from that paid in each of the previous four quarters.

15:40 EDT Federal Reserve approves Synovus proposal to merge with FCB Financial - The Federal Reserve Board announced its approval of the proposals by: Synovus Financial Corp. (SNV) to merge with FCB Financial Holdings (FCB) and thereby indirectly acquire FCB Financial's subsidiary bank, Florida Community Bank, N.A.; Synovus Bank, Columbus, Georgia, to merge with Florida Community Bank; and Synovus Bank to establish and operate branches at the locations of the main office and branches of Florida Community Bank. Reference Link

15:18 EDT Duke Energy says storm could result in 500,000+ power outages in Carolinas - Duke Energy meteorologists modeled the latest forecast for an approaching winter storm and project the heavy wet snow, sleet and freezing rain will result in approximately 500,000 power outages or more for homes and businesses in the Carolinas. Based on the current forecast, widespread, multiple-day power outages are expected for the Mountains, Foothills, Piedmont, Triad and Triangle areas of North Carolina and portions of Upstate South Carolina and customers should be prepared.

15:03 EDT Quidel reports San Diego court to grant Beckman motion for summary adjudication - Quidel announced that the San Diego Superior Court stated that it intends to enter an order granting Beckman's motion for summary adjudication relating to the agreement for the supply of antibodies and other inputs related to, and distribution of, the Triage BNP Test for the Beckman Coulter Access Family of Immunoassay Systems, between Quidel and Beckman. Specifically, the Court stated that it intends to rule that a provision of the Beckman Agreement restricting Beckman from manufacturing or selling another BNP or NT-proBNP assay is void as a matter of law. The remainder of the Beckman Agreement remains in effect. Beckman will continue to supply Quidel, and Quidel will continue to sell, the underlying BNP assay. "The ruling does not end the litigation, as it concerns only one aspect of the case. Quidel intends to promptly request that the Court stay its order, and it intends to request that the Fourth District Court of Appeal immediately review the decision. Our overall view of the litigation remains unchanged, and we continue to believe that Beckman's position is meritless, in opposition to Beckman's long-standing strategy over the last 15 years of honoring the Beckman Agreement with its previous partners - Alere and Biosite. The Court's ruling today does not change our view that Quidel will ultimately prevail in the litigation on the merits through motion, or at trial, which is currently scheduled for August 30, 2019," said Douglas Bryant, president and CEO of Quidel.

14:43 EDT Quidel trading halted, news pending

14:04 EDT Brown Advisory reports 5.29% passive stake in Essential Properties Realty Trust

13:28 EDT Aurora Cannabis to enter Mexico market with Farmacias Magistrales partnership - Aurora Cannabis announced that the company has established an exclusive partnership with Farmacias Magistrales, an established Mexican pharmaceutical manufacturer and distributor with a broad reach to approximately 80,000 retail points and 500 pharmacies and hospitals across Mexico. Farmacias recently received the first and only import license granted to date, from the Federal Commission for Protection Against Health Risks, the Mexican government body responsible for medical cannabis licensing, which permits Farmacias to import Aurora medical cannabis products containing THC into Mexico. Farmacias has also received licenses from COFEPRIS to permit: Importation and storage of raw CBD and THC materials; Manufacture of CDB and THC products; Distribution of CBD and THC products. Farmacias' license to import Aurora's medical cannabis into Mexico positions Aurora with another first-mover advantage in one of the world's most populous countries, where more than 130 million people will have federally legal access to a range of Aurora's non-flower medical cannabis products containing THC and/or CBD. Dried flower containing THC is currently prohibited for domestic cultivation, import or sale in Mexico.

13:18 EDT Facebook fined EUR10M by ICA for unfair commercial practices - On November 29, the Italian Competition Authority closed the investigation opened last April for alleged violations of the Consumer Code by Facebook Ireland Ltd. and its parent company Facebook Inc, imposing two fines for a total of 10 million euros. The Authority established that Facebook misleads consumers into registering in the Facebook platform, while not adequately and immediately informing them during the creation of the account that the data they provide will be used for commercial purposes. More generally, Facebook emphasizes the free nature of the service but not the commercial objectives that underlie the provision of the social network service, thus inducing users into making a transactional decision that they would not have taken otherwise. The ICA also found that Facebook carries out an aggressive practice, as it exerts undue influence on registered consumers, who suffer, without express and prior consent and therefore unconsciously and automatically, the transmission of their data from Facebook to third-party websites/apps for commercial purposes, and vice versa. More specifically, through the pre-selection of the "Active Platform" function Facebook pre-sets the ability of its users to access websites and external apps using their FB accounts, thus allowing the transmission of their data to the single websites / apps, without any express consent. Facebook then reiterates the opt-out pre-selection mechanism, with respect to data sharing, whenever users access third-party websites / apps, including games, using their Facebook accounts. In this case also, users can in fact only deselect the pre-setting operated by Facebook, without being able to make a free, informed choice.

13:03 EDT Baker Hughes reports U.S. rig count down 1 to 1,075 rigs - Baker Hughes reports that the U.S. rig count is down 1 rig from last week to 1,075, with oil rigs down 10 to 877 and gas rigs up 9 to 198. The U.S. Rig Count is up 144 rigs from last year's count of 931, with oil rigs up 126 and gas rigs up 18. The U.S. Offshore Rig Count is unchanged at 23 rigs and up 3 rigs year-over-year. The Canada Rig Count is down 13 rigs from last week to 186, with oil rigs down 17 to 102 and gas rigs up 4 to 84. The Canada Rig Count is down 33 rigs from last year's count of 219, with oil rigs down 10 and gas rigs down 23.

12:51 EDT General Electric board authorizes 1c per share quarterly dividend - The Board of Directors of GE declared a 1c per share dividend on the outstanding common stock of the company. The dividend is payable January 25, 2019 to shareowners of record at the close of business on December 20, 2018. The ex-dividend date is December 19, 2018.

12:39 EDT Washington State Investment reports 11.22% passive stake in Fortress Transportation

11:51 EDT VIVUS jumps 28% in late morning trading - At time of writing, VIVUS shares were up 71c, or 27.8%, to $3.25.

11:34 EDT Ted Baker CEO takes voluntary leave of absence amid investigation - Ted Baker on December 3 announced that it had appointed an independent committee of non-executive Directors "to ensure that the views and concerns raised in recent media reports and a petition are recognised and carefully considered and that appropriate responses are taken forward." The committee subsequently appointed Herbert Smith Freehills to conduct an independent external investigation into the reports received. Today Ted Banker says, "The Committee and the Board have now been made aware of further serious allegations about the conduct of founder and Chief Executive Officer Ray Kelvin, which it will also be investigating. Ray Kelvin has agreed, for the benefit of the business and the people who work in it, that he will take a voluntary leave of absence from his role with the Company while these allegations are investigated." The board has appointed Chief Operating Officer Lindsay Page as acting CEO with immediate effect while Ray Kelvin remains on leave. Ted Baker added that it will not make any further comment about the nature of the allegations that have been made while they remain under investigation. David Bernstein, Non-Executive Chairman, commented: "As previously stated, the Board has moved quickly to appoint Herbert Smith Freehills LLP to conduct a thorough and independent external investigation into recent reports regarding the company and its CEO. Ted Baker has great people across its global teams as well as a highly experienced operational Board underpinned by the strength and experience of our teams, I am confident that the business remains in a strong position to continue to deliver its long-term growth strategy."

11:27 EDT Akorn sinks after Delaware high court allows Fresenius to kill deal - Shares of Akorn (AKRX) are dropping after Delaware's Supreme Court upheld a lower court ruling that allowed Fresenius SE (FSNUY) to terminate its planned $4.3B buyout of the generic drugmaker. "The factual record adequately supports the Court of Chancery's determination...that Akorn had suffered a material adverse effect" of the merger agreement that "excused any obligation on Fresenius's part to close," the high court stated in an opinion today. It added, "Likewise, we conclude that the record adequately supports the Court of Chancery's declaration that Fresenius properly terminated the merger under Section 7.01(c)(i) because Akorn's breach of its regulatory representations and warranties gave rise to an MAE and Fresenius had not itself engaged in a prior, material breach of a covenant that would have prevented Fresenius from exercising its immediate termination right under the Merger Agreement." Shares of Akorn are down 34%, or $1.89, to $3.70 following the court's decision. Fresenius is down 16% to $11.37 in late morning trading after saying earlier today that its 2020 targets would not be reached. Reference Link

11:00 EDT Akorn extends decline, shares down 28% to $4.05 after court ruling

10:57 EDT Akorn sinks after court upholds decision on Fresenius ending deal - Shares of Akorn (AKRX) sank after Delaware's top court upheld an earlier ruling that Fresenius (FSNUY) can end its planned $4.3B takeover of the generic drugmaker. The high court agreed that a material adverse change took place since the deal was announced. Shares of Akorn, before halting for volatility, sank 17%, or 95c, to $4.64.

10:53 EDT Akorn drops 17% to $4.64 after court upholds Fresenius deal ruling

10:27 EDT Hanover Insurance raises quarterly dividend 11% to 60c per share - The Hanover Insurance Group announced that its board of directors has declared a quarterly dividend of 60c per share on the issued and outstanding common stock of the company, payable December 28, 2018, to shareholders of record at the close of business on December 17, 2018.

10:14 EDT J.M. Smucker issues voluntary recall of specific 9Lives Protein Plus cat food - The J.M. Smucker Company announced a voluntary recall of specific lots of 9Lives Protein Plus wet, canned cat food due to possible low levels of thiamine. No illnesses related to this issue have been reported to date and the product is being recalled out of an abundance of caution. The impacted products are as follows: 9Lives Protein Plus With Tuna & Chicken, UPC code 7910021549, 4 pack of cans, 5.5 oz each, best if used by date Mar. 27, 2020- Nov.14, 2020 and 9Lives Protein Plus With Tuna & Liver, UPC code 7910021748, 4 pack of cans, 5.5 oz each, best if used by date Apr. 17, 2020 - Sept.14, 2020. No other 9Lives products or products of The J.M. Smucker Company are impacted by this recall. Cats fed diets low in thiamine for several weeks may be at risk for developing a thiamine deficiency. Thiamine is essential for cats. Symptoms of deficiency displayed by an affected cat can be gastrointestinal or neurological in nature. Early signs of thiamine deficiency may include decreased appetite, salivation, vomiting, and weight loss. In advanced cases, neurological signs can develop, which include ventroflexion of the neck, wobbly walking, circling, falling, and seizures. Contact your veterinarian immediately if your cat is displaying any of these symptoms. If treated promptly, thiamine deficiency is typically reversible. Pet parents who have impacted product should stop feeding it to their cats and dispose of the product. If pet parents have questions or would like to receive a refund or coupon for replacement product, they should email the Company or call it at 1-888-569-6828. The issue was discovered by the Company during a standard review of product data. The recall is being conducted in cooperation with the U.S. Food and Drug Administration.

10:00 EDT Britannia Bulk falls -12.9% - Britannia Bulk is down -12.9%, or -$1.65 to $11.13.

10:00 EDT Jupai Holdings falls -25.7% - Jupai Holdings is down -25.7%, or -$2.33 to $6.73.

10:00 EDT W&T Offshore rises 10.2% - W&T Offshore is up 10.2%, or 58c to $6.30.

09:47 EDT Britannia Bulk falls -11.5% - Britannia Bulk is down -11.5%, or -$1.47 to $11.31.

09:47 EDT Jupai Holdings falls -25.2% - Jupai Holdings is down -25.2%, or -$2.28 to $6.78.

09:47 EDT Aurora Cannabis rises 10.0% - Aurora Cannabis is up 10.0%, or 53c to $5.81.

09:35 EDT Sonoco raises FY18 free cash flow view to $250M-$270M from $230M-$250M - Guidance for FY18 operating cash flow and free cash flow has been raised to $590M-$610M and $250M-$270M, respectively. The company previously provided operating cash flow and free cash flow guidance of $580M-$600M and $230M-$250M, respectively. The increase in guidance for FY18 free cash flow is due primarily to lower than anticipated capital spending.

09:13 EDT Inpixon commences subscription period for rights offering - Inpixon announced that the subscription period for its previously announced rights offering has commenced. If exercising subscription rights through a broker, dealer, bank or other nominee, rights holders should promptly contact their nominee and submit subscription documents and payment for the units subscribed for in accordance with the instructions and within the time period provided by such nominee. The broker, dealer, bank or other nominee may establish a deadline before December 21, by which instructions to exercise subscription rights, along with the required subscription payment, must be received. All record holders of rights that wish to participate in the rights offering must deliver a properly completed and signed subscription rights statement, together with payment of the subscription price for both basic subscription rights and any over subscription privilege election for delivery no later than December 21 to the subscription agent. Under the rights offering, Inpixon will distribute one non-transferable subscription right for each share of common stock, preferred stock and each participating warrant held on the record date, December 6. The subscription rights will be exercisable for up to an aggregate of $10M of units, subject to increase at the discretion of the company, with aggregate participation to be allocated among holders, subject to certain participation rights, on a pro rata basis if in excess of that threshold. Each right will entitle the holder to purchase one unit, at a subscription price of $1,000 per unit, consisting of one share of Series 5 Convertible Preferred Stock with a stated value of $1,000 and 200 warrants to purchase Inpixon's common stock with an exercise price of $5.00 per share. The warrants will be exercisable for 5 years after the date of issuance. Inpixon has applied to list the warrants on the Nasdaq Capital Market, although there is no assurance that a sufficient number of subscription rights will be exercised so that the warrants will meet the minimum listing criteria to be accepted for listing on the Nasdaq Capital Market.

09:07 EDT TrueCar acquires DealerScience, terms not disclosed - TrueCar and DealerScience announced that TrueCar has acquired DealerScience, the automotive retail industry's leading provider of advanced digital retailing software tools. DealerScience will operate as a subsidiary of TrueCar, focused on product development, sales and customer training. Dealer customers of TrueCar and DealerScience can expect to see improvements that enable them to expedite vehicle desking, calculate accurate monthly payments and streamline the consumer experience from shopping to showroom. DealerScience will maintain its team, led by Andrew Gordon, who will assume a new role as VP of Digital Retailing at TrueCar. DealerScience's headquarters will remain in Boston.

09:05 EDT Oxford Immunotec announces acceptance of T-Cell Select kit by China FDA - Oxford Immunotec announced regulatory acceptance of the T-Cell Select kit by the China FDA. The T-Cell Select kit was designed as an immune cell separation reagent kit to simplify workflow, improve throughput and reduce hands-on time and labor costs in performing the T-SPOT.TB test. With the T-Cell Select kit, blood samples collected in a single standard blood tube can be stored for up to 54 hours at room temperature before use.

09:04 EDT FedEx Chief Marketing and Communication Officer named CEO of FedEx Express - FedEx announced that David Cunningham, president and CEO of FedEx Express, will retire effective December 31. Raj Subramaniam, currently executive vice president,Chief Marketing and Communication Officer of FedEx Corporation, will succeed Cunningham effective January 1, 2019. Subramaniam has been with FedEx for more than 27 years and has held various executive level positions in several of our operating companies and international regions. Brie Carere, a more than 17-year FedEx veteran, will succeed Subramaniam as executive vice president, Chief Marketing and Communication Officer of FedEx Corporation.

08:57 EDT StoneCastle announces 14c special distribution - StoneCastle announced that its board has declared a special cash distribution of 14c per share and a regular cash distribution of 38c per share for Q4. The total distribution of 52c will be payable on January 2, 2019 to shareholders of record on December 24.

08:42 EDT Taoping enters into strategic agreements with Asia Taoping, Singapore Taoping - Taoping announced that it has entered into strategic cooperation agreements with two companies: Asia Taoping and Singapore Taoping. According to the agreements, as the local partners of TAOP, Asia Taoping will operate TAOP sharing new media in South Asia and Southeast Asia market, Singapore Taoping will operate TAOP sharing new media in Singapore market. "The expansion into the Asia market is another important move of our overseas development plan following TAOP's successful landing in Toronto last month." said Jianghuai Lin, the chairman and CEO of TAOP, "The booming E-commerce market and increasing mobile app usage in Southeast Asia creates the conditions for the success of our 'Smart IoT Terminal - Taoping Net/App - Taoping E-store' lifestyle media ecosystem. We look forward to seeing more local businesses benefiting from our platform."

08:31 EDT Myriad EndoPredict can guide chemotherapy decision in early-stage breast cancer - Myriad Genetics announced that academic researchers from the Technical University of Munich presented the first prospective outcomes data on EndoPredict at the San Antonio Breast Cancer Symposium in San Antonio, Texas. One of the key findings is that EndoPredict high-risk patients had a better outcome with adjuvant chemotherapy compared to endocrine therapy alone. The prospective study evaluated outcomes data of patients whose adjuvant systemic chemotherapy recommendation was based on the EndoPredict test result. All patients were evaluated for treatment compliance, local recurrence, distant metastases and survival. A total of 373 patients with HR+, HER2- early breast cancer with 0-3 positive lymph nodes were enrolled between March 2012 and March 2015. The EndoPredict test allocated 238 patients in the low-risk group and 135 patients in the high-risk group. Of these, 128 patients were recommended to undergo adjuvant chemotherapy in addition to endocrine therapy and 92 of patients were compliant having received standard-of-care chemotherapy. The results show that the disease free survival and distant metastases free survival in the low-risk group was 96.6% and 99.6% compared to 94.9% and 97.6% in the high-risk group. These results equate to a two-fold higher risk of disease recurrence and a five-fold higher risk of distant metastases in patients with high EndoPredict scores versus low scores. The analysis also demonstrated that EndoPredict high-risk patients who received adjuvant chemotherapy had a 3-year DFS of 96.3% compared to 91.5% in those high-risk patients who did not receive chemotherapy.

08:31 EDT Myriad Genetics to present new data for EndoPredict breast cancer test - Myriad Genetics announced that new data on its EndoPredict test will be presented by academic collaborators at the San Antonio Breast Cancer Symposium. The key findings are that EndoPredict accurately predicts which women with ER-positive, HER2-negative breast cancer will benefit from adjunctive chemotherapy at the time of diagnosis and who is unlikely to benefit from extended endocrine therapy five years after diagnosis. The EndoPredict test was recently included in The National Comprehensive Cancer Network Guidelines for breast cancer. The retrospective analysis of five prospective studies evaluated whether EndoPredict can predict the chemotherapy benefit in 3,746 women with ER-positive, HER2-negative breast cancer who have received five years of endocrine therapy alone or in combination with chemotherapy. The primary endpoint was the 10-year distant recurrence free interval. Regarding the prediction of distant recurrence by EndoPredict in patients with ER-positive, HER2- negative breast cancer who received adjuvant endocrine therapy plus chemotherapy or endocrine therapy alone, Myriad said the results demonstrated that patients with a high EndoPredict score on ET+C had a significantly lower 10-year DR risk than those on ET alone. In contrast, there were no significant differences in the 10-year DR between ET and ET+C for patients with low EndoPredict Scores. These findings were statistically significant and confirm that EndoPredict was able to accurately predict chemotherapy benefit in women with ER-positive, HER2-negative breast cancer. Regarding prediction of distant recurrence using EndoPredict among women with ER-positive, HER2-negative breast cancer with a maximum follow-up of 16 years, the study assessed the ability of the EPclin test to predict early distant recurrence and late recurrence of breast cancer, according to nodal status. The analysis included 1,702 patients with ER-positive, HER2-negative breast cancer who received five years of endocrine therapy alone. Overall, 62.2% of patients had low EndoPredict scores. The results demonstrated that EndoPredict is highly predictive of both early and late distant recurrence, regardless of nodal status. Women with low EndoPredict scores had statistically significantly reduced risk compared to those with high scores.

08:11 EDT eHi Car Services enters $195M syndicated loan facility agreement - eHi Car Services Limited announced that the company has entered into a $195M syndicated loan facility agreement. This loan facility agreement provides a $195M credit line to the company, including an initial facility of $180M and a greenshoe facility of $15M, which has received written commitments for a full subscription. The loan facilities have a three-year term and will be repaid in installments. The interest margin is priced at 350 basis points per annum over LIBOR up to and including the date falling 12 months after the first utilization date and 400 basis point per annum after the date falling 12 months after the first utilization date. Deutsche Bank AG, Singapore Branch is acting as the original mandated lead arranger of the loan facilities. The proceeds of the loan facilities will be used for repaying the amounts outstanding pursuant to the Company's senior unsecured notes due December 2018 and other general corporate purposes of the Company.

08:06 EDT ANI Pharmaceuticals enters agreements with certain holders of convertible notes - ANI Pharmaceuticals announced that it has entered into separate, privately negotiated agreements with certain holders of its outstanding 3.00% Convertible Senior Notes due 2019. ANI has agreed to repurchase $25M aggregate principal amount of Notes for a total of $26.1M in cash, including accrued but unpaid interest up to but excluding the closing date for the transactions. In connection with the contemplated repurchase of Notes, ANI has also entered into an agreement with the dealer party to certain convertible note hedge transactions related to the Notes to unwind a corresponding portion of such convertible note hedge transactions. ANI has also entered into agreements with such dealer counterparty to unwind certain warrant transactions in amounts corresponding to the portion of the Notes outstanding being repurchased.

08:02 EDT PriceSmart reports November net merchandise sales down 1% - PriceSmart announced that for the month of November 2018, net merchandise sales decreased 1.0% to $258.9M from $261.5M in November a year earlier. For the three months ended November 30, 2018, net sales increased 0.3% to $747.4M from $745.4M in the same period last year. There were 41 warehouse clubs in operation at the end of November 2018 compared to 40 warehouse clubs in operation in November 2017. For the five weeks ended December 2, 2018, comparable warehouse sales for the 40 warehouse clubs open at least 13 1/2 full months decreased 2.8% compared to the same five-week period last year. For the thirteen-week period ended December 2, 2018, comparable warehouse sales decreased 2.1% compared to the thirteen-week period a year ago.

07:49 EDT Altria Group discontinues all MarkTen and Green Smoke e-vapor products - Altria Group (MO) announces the discontinuation of production and distribution of all MarkTen and Green Smoke e-vapor products and VERVE oral nicotine containing products. This decision is based upon the current and expected financial performance of these products, coupled with regulatory restrictions that burden Altria's ability to quickly improve these products. The company will refocus its resources on more compelling reduced-risk tobacco product opportunities. Altria's subsidiaries will begin working with their retailers, wholesalers, contract manufacturers and suppliers to ensure an orderly process. MarkTen cig-a-likes are currently in distribution at retail and through e-commerce. Green Smoke is primarily available on e-commerce with limited retail presence. VERVE is in limited distribution at retail and e-commerce. "We remain committed to being the leader in providing adult smokers innovative alternative products that reduce risk, including e-vapor. We do not see a path to leadership with these particular products and believe that now is the time to refocus our resources. We recognize the impact this decision has on our employees and business partners, which we do not take lightly," said Howard Willard, Chairman and CEO, Altria Group. Altria expects to record one-time pre-tax charges of approximately $200M, the majority of which would be non-cash asset impairment charges, in the fourth quarter of 2018 as a result of this decision. These charges will be excluded from Altria's adjusted results.

07:47 EDT Altria Group discontinues all MarkTen and Green Smoke e-vapor products

07:45 EDT Cronos Group trading resumes

07:19 EDT Altria to invest $1.8B for 45% ownership interest in Cronos Group - Altria Group (MO) announced that it has entered into an agreement to acquire newly issued shares in Cronos Group (CRON), a cannabinoid company, headquartered in Toronto, Canada. The transaction represents a 45% equity stake in Cronos Group, at a price of C$16.25 per share, for an aggregate investment by Altria of approximately $1.8B, or approximately C$2.4B. As part of the agreement, at closing, Altria will have the right to nominate four directors, including one independent director, to serve on Cronos Group's Board of Directors, which will be expanded from five to seven directors. The agreement includes a warrant to acquire an additional ownership interest in Cronos Group at a price of C$19.00 per share exercisable over four years from the closing date. If exercised in full, the warrant would increase Altria's ownership in Cronos Group by 10% to approximately 55%. Altria expects its investment to help Cronos Group accelerate its growth strategies and its R&D and intellectual property development. Additionally, Altria will provide expertise to help Cronos Group thrive in the growing global cannabis market. These services may include regulatory affairs, regulatory science, compliance, government affairs and brand management. "This investment positions Altria to participate in the emerging global cannabis sector, which it believes is poised for rapid growth over the next decade. It also creates a new growth opportunity in an adjacent category that is complementary to Altria's core tobacco businesses," Altria said.

07:16 EDT Cronos announces C$2.4B strategic investment from Altria

07:10 EDT Cronos Group trading halted, news pending

07:03 EDT Vail Resorts to invest $175M-$180M in guest experience for 2019-2020 season - Vail Resorts announced that the company plans to invest approximately $175M to $180M in the guest experience in time for the 2019-20 winter ski and snowboard season across its network of 18 resorts. This latest investment is in addition to approximately $150M invested for this season, bringing the company's industry-leading resort investment total to more than $1.2B over the last decade. From new mobile technology enhancements that will improve direct-to-lift access to the pursuit of snowmaking upgrades at Vail, Beaver Creek and Keystone, the Company announced significant investments that showcase its commitment to getting skiers and snowboarders on the mountain earlier in the season and faster. Other significant investments include exciting upgrades to lifts, dining, ski school and skier services.

06:59 EDT Quanta Services initiates quarterly dividend of 4c per share - Quanta Services announced that its board has declared an initial quarterly cash dividend to stockholders. This initial quarterly dividend of 4c per share, a rate of 16c per share on an annualized basis, will be paid on January 16, 2019, to stockholders of record as of the close of business on January 2, 2019. Quanta's long-term objective is to prudently increase the amount of its dividend over time.

06:38 EDT Southwest reports November traffic - Southwest reported its November preliminary traffic statistics. The company flew 11.3B revenue passenger miles, or RPMs, in November, an increase of 4.9% from the 10.8B RPMs flown in November 2017. Available seat miles, or ASMs, increased 6.5% to 13.4B in November, compared with November 2017 ASMs of 12.6B. The November load factor was 84.5%, compared with 85.8% in November 2017.

06:12 EDT Big Lots down 7.6% after reporting mixed Q3 results, cutting Q4, FY18 guidance

06:11 EDT AAC Holdings announces strategic initiatives, $15M cost reduction plan - AAC Holdings announced that AAC's management team and board have conducted a review of the company and its performance and remain optimistic about the underlying market conditions, AAC's position as a provider of drug and alcohol addiction treatment services in the U.S., and the opportunity to create sustainable value for AAC's shareholders. AAC participates in an addressable market that management believes is in excess of $30B with attractive underlying industry trends, contributing to market growth in excess of 4% per annum. With three years of research from over 4,000 patients, AAC was able to demonstrate differentiated clinical outcomes compared to national benchmarks. Notwithstanding the issues that contributed to lower than expected revenue growth since July, the company currently expects to be able to grow its top line revenue in 2019 at or better than the industry growth rate long-term, driving corresponding improvements in profitability and cash flow generation. The company is poised to reap the near-term benefits of strategic initiatives implemented during 2018. These initiatives include: key hires of Michael Nanko as president and COO, Stephen Ebbett as CDMO and Larry Weinstein as CMO, the implementation of new technology used to interact with prospective patients, revising admissions compensation structure and training to improve best practices and realigning organizational structure to improve operational efficiency. AAC also announced a cost reduction initiative to improve operating performance across the organization. AAC's implemented cost reduction program is currently expected to reduce the company's total expenses on an annualized basis by approximately $15M and includes an aggregate reduction of approximately 200 positions across the company. The actions taken include: the consolidation of the San Diego outpatient and sober-living facilities into the Laguna operations in California to provide more efficient operations and stronger financial performance. The company expects this consolidation to be fully executed prior to December 31, a strategic alternative for Townsend operations in Louisiana and effective November 30, a reduction of approximately 100 positions, including corporate functions, which is intended to align staffing levels with current occupancy. The company currently expects to incur less than approximately $1M in one-time cash expenditures to fully execute the initiatives outlined above, the majority of which we expect to be incurred during 2019. These cost reduction efforts were not included in the company's 2018 guidance.

06:09 EDT Big Lots cuts Q4 EPS view to $2.20-$2.40 from $2.90-$3.00, consensus $2.94 - Updates Q4 SSS guidance to flat to up 2% from up in the low single digits.

06:06 EDT Nissan to recall 150,000 more vehicles in Japan after improper inspections - Since October 2017, after the discovery of nonconformities in the final vehicle inspection process at plants in Japan, Nissan has submitted recall notifications to the Japanese Ministry of Land, Infrastructure and Transportation on Oct. 6 and 25, 2017, and Jan. 12 and June 29, 2018. A total of 1,143,540 affected vehicles have been recalled across 42 models. Following these actions, Nissan has newly found several nonconformities that may have caused inaccurate pass/fail judgments during the inspection process. Nissan will promptly prepare for recall procedures in Japan, and notify MLIT of its recall plan as soon as possible. This recall action is limited to Japan. Nissan will recall approximately 150,000 more vehicles in Japan due to improper final inspections before they were shipped from two Japanese manufacturing plants.

06:02 EDT Baker Hughes reports November worldwide rig count 2,266 rigs - Baker Hughes, a GE company, announced that the Baker Hughes international rig count for November 2018 was 991, down 26 from the 1,017 counted in October 2018, and up 49 from the 942 counted in November 2017. The international offshore rig count for November 2018 was 206, down 1 from the 207 counted in October 2018, and up 23 from the 183 counted in November 2017. The average U.S. rig count for November 2018 was 1,077, up 15 from the 1,062 counted in October 2018, and up 166 from the 911 counted in November 2017. The average Canadian rig count for November 2018 was 198, up 6 from the 192 counted in October 2018, and down 6 from the 204 counted in November 2017. The worldwide rig count for November 2018 was 2,266, down 5 from the 2,271 counted in October 2018, and up 209 from the 2,057 counted in November 2017.

05:11 EDT Hasbro, Wizards of the Coast announce eSports entrance for Magic: The Gathering - Live on stage at the Game Awards, Hasbro and Wizards of the Coast announced a brand new esports program coming in 2019 for Magic: The Gathering, which boasts a $10M prize pool across digital and tabletop Magic. With over 35 Million Magic players to date in over 70 countries around the world, Magic's new esports structure is designed to appeal to a wide audience of card game players and offers an open platform to allow all Magic players the opportunity to compete. The Magic Pro League, or MPL, establishes a new level of professional play and features 32 of the top ranked Magic players from around the world. Players in the MPL are offered play and streaming contracts worth $75,000. Members of the MPL will play in weekly match-ups on Magic: The Gathering Arena that will lead to newly introduced Mythic Championship events. Mythic Championships are the new flagship competitions for Magic: The Gathering Arena esports and tabletop Magic competitive play. Mythic Championships will feature MPL players battling against challengers from the Magic community. The Magic: The Gathering Arena esports program kicks off with a $1M Mythic Invitational at PAX East 2019 in Boston, Massachusetts. More details on how to climb the ranks and battle the pros will be revealed in early 2019.