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

20:18 EDT Teradata targets 2021 recurring revenue growth of 14% - Also sees 2021 gross margin of 65% vs 50% expected in 2018, operating margin of 20%-25% vs. 10% expected in 2018, EPS doubling from 2017 levels, and free cash flow reaching 20%-25% of revenue vs 8%-9% expected in 2018. Guidance from the slides accompanying Teradata's Investor Day presentation earlier today. Reference Link

19:03 EDT Allstate announces estimated November catastrophe losses of $685M - Allstate announced estimated catastrophe losses for the month of November 2018 of $685M pre-tax or $541M after tax. Catastrophe losses occurring in November comprised six events at an estimated cost of $679M, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. Allstate previously announced $202M, pre-tax, in estimated catastrophe losses for the month of October 2018, bringing catastrophe losses for the months of October and November 2018 to $887M, pre-tax, or $701M, after-tax. Two wildfires in the state of California, the Camp and Woolsey Fires, created significant loss of life and property. Allstate's net losses in November related to the Camp and Woolsey Fires are estimated at $670 million, pre-tax ($529M, after-tax), and reflect the impact of reinsurance recoveries and reinstatement premiums.

19:00 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: Nordson (NDSN) up 0.8%. ALSO HIGHER: Communications Systems (JCS) up 8.1% after initiating restructuring... Babcock & Wilcox (BW) up 4.6% after receiving purchase orders for 11 boilers in Q4... Five Below (FIVE) up 1.2% after being upgraded to Buy at Goldman Sachs... Alibaba (BABA) up 0.4% after being assumed with Buy at Mizuho. DOWN AFTER EARNINGS: Tailored Brands (TLRD) down 26.3%... Limelight Networks (LLNW) down 23.7% after cutting FY18 guidance... Oxford Industries (OXM) down 10.9%. ALSO LOWER: Applied Genetic Technologies (AGTC) down 38.3% after interim data from rAAV2tYF-CB-hRS1 trial showed no signs of clinical activity... VBI Vaccines (VBIV) down 6.6% after equity offering... Hannon Armstrong (HASI) down 3.7% after equity offering... Buenaventura (BVN) down 0.6% after suspending production at Orcopampa for de-bottlenecking.

17:58 EDT Robert Duggan raises stake in Achaogen to 20.4%

17:56 EDT Fluor announces participation in $2.1B rail project in Chicago - Fluor announced that the joint venture team of Walsh Construction Company and Fluor has been selected as the preferred partner to design and build Phase One of the Red and Purple Line Modernization Program for the Chicago Transit Authority. The $2.1B project will be the largest capital project in CTA's history, ultimately resulting in expanded capacity and improved infrastructure along the region's most used rail lines. Fluor plans to book its share of the undisclosed design and construction contract value in the first quarter of 2019.

17:46 EDT Robert Duggan raises stake in Achaogen 20.4%

17:44 EDT Park Hotels & Resorts announces Q4 dividend of $1.00 per share - Park Hotels & Resorts announced that the company has declared a fourth quarter cash dividend of $1.00 per share of common stock. The dividend will be paid on January 15 to holders of record as of December 31.

17:32 EDT Babcock & Wilcox receives purchase orders for 11 industrial boilers in Q4 - Babcock & Wilcox Enterprises announced that its subsidiary has received combined purchase orders totaling more than $50 million for 11 industrial package boilers in October, November and early December. The orders include the significant contract that was announced earlier this month to provide boilers for a Canadian oil sands project. The orders come from five customers in North America, and the boilers will be used to generate steam for a variety of applications - including food and chemical processing, heating and petroleum extraction.

17:17 EDT General Electric awarded maximum $157.73M Defense Logistics Agency contract - General Electric has been awarded a maximum $157.73M fixed-price prospective redetermination, requirements contract for holistic engine support of the T64 aircraft engine. This was a sole-source acquisition using justification 10 U.S. Code. 2304, as stated in Federal Acquisition Regulation 6.302-1. This is a five and a half year base contract with one five-year option period. Location of performance is Massachusetts, with a June 6, 2024, performance completion date. Using military service is Navy. Type of appropriation is FY19 through FY24 defense working capital funds. The contracting activity is Defense Logistics Agency Aviation.

17:08 EDT Mr. Cooper names Christopher Marshall as new CFO - On December 12, Mr. Cooper Group publicly announced that Christopher Marshall has agreed to join the Company on January 2, as Vice Chairman, a newly created officer position, and will become its CFO effective immediately following the filing of the Company's Form 10-K for fiscal year 2018. Upon Mr. Marshall's assumption of the Chief Financial Officer role, Amar Patel, who has served as Chief Financial Officer on an interim basis since March 2017, will step down from this role and will remain with the Company during a transition period.

17:03 EDT Quantenna further strengthens its strategic partnership with Telefonica - Quantenna Communicationsis further strengthening its strategic partnership with Telefonica. Through a long history of cooperation, the two companies have developed multiple generations of best-in-class products including gateways, repeaters and set-top boxes deployed in Europe and Latin America. Leveraging Quantenna's 8x8 QSR10GU-AX, Telefonica is delivering a new portfolio of high-end fiber gateways and repeaters.

16:51 EDT Home Federal Bancorp approves stock repurchase program - Home Federal Bancorp of Louisiana, the holding company for Home Federal Bank, announced that its board approved the company's eighth stock repurchase program. The new repurchase program provides for the repurchase of up to 95,000 shares, or approximately 5.0% of the company's outstanding common stock from time to time, in open market or privately negotiated transactions. The stock repurchase program does not have an expiration date. As of the date hereof, there are a total of 7,683 shares remaining for repurchase under the seventh stock repurchase program.

16:37 EDT Nordson reports Q4 backlog down 1% at $394M - Backlog for the quarter ended October 31, 2018 was approximately $394 million, a decrease of 1 percent compared to the same period a year ago, inclusive of a 3 percent decline in organic growth offset by 2 percent growth due to acquisitions.

16:32 EDT Tailored Brands down 22% to $15.64 after lowering FY18 outlook

16:30 EDT Mr. Cooper names Christopher Marshall vice chairman, CFO - Mr. Cooper Group announced the appointment of Christopher Marshall as Vice Chairman, a newly created officer position, effective January 2, 2019 and as Chief Financial Officer, effective immediately following the filing of the company's Annual Report on Form 10-K for fiscal year 2018. Marshall most recently served as co-founder and CFO of Capital Bank Financial Corp. since 2009. Marshall will succeed Amar Patel, who has been serving as interim CFO since March 2017. Following Marshall's assumption of the CFO role, Patel will remain with the company during a transition period.

16:26 EDT Synovus names Kevin Blair new COO - Synovus Financia announced the appointment of Kevin Blair as senior executive vice president and chief operating officer, effective immediately. Blair previously served as Synovus' chief financial officer and will remain in this position on an interim basis until a successor is named.

16:24 EDT Zoetis increases quarterly dividend 30% - Zoetis declared aQ1 dividend of 16.4c per share, an increase of 30% from the quarterly dividend rate paid in 2018. The dividend is to be paid on Friday, March 1, 2019, to holders of record of the company's common stock on Friday, January 18, 2019.

16:23 EDT Zoetis authorizes $2B share repurchase program - Zoetis announced that its board has authorized a $2B multi-year share repurchase program as part of its long-term capital allocation plans. The shares are expected to be repurchased over a multi-year period, and the program can be cancelled at any time. The company's previous $1.5B share repurchase program, which was approved in December 2016, is expected to be completed in the first half of next year.

16:21 EDT AllianceBernstein reports AUM $533B as of November 30th vs. $530B last month - AllianceBernstein announced that preliminary assets under management increased to $533 billion during November 2018 from $530 billion at the end of October. The 0.6% increase was due to market appreciation, partially offset by total firmwide net outflows. By channel, net outflows from Institutions and Private Wealth exceeded Retail net inflows.

16:17 EDT Universal Insurance authorizes new $20M share repurchase program - Universal Insurance announced that its board has authorized a new share repurchase program under which the company may repurchase up to $20M of its outstanding shares of common stock through May 31, 2020. This new authorization follows the completion of the $20M share repurchase program announced on November 8, 2017. Share repurchases may be made by the company from time to time in open market transactions at prevailing market prices and are subject to relevant rules under the Securities Exchange Act of 1934.

16:16 EDT Comfort Systems USA names Laura Howell as new General Counsel - Comfort Systems USA announced the transition of Trent T. McKenna from his current role as Senior Vice President, General Counsel and Corporate Secretary to a regional operations role, effective January 1, 2019. The company has appointed Laura F. Howell to serve as Vice President, General Counsel and Corporate Secretary, effective January 1, 2019.

16:10 EDT NVR announces $300M share repurchase program - NVR announced that its Board of Directors has authorized the repurchase of $300M of its outstanding common stock. The company indicated that the authorization is a continuation of the stock repurchase program that began in 1994 and is consistent with NVR's strategy of maximizing shareholder value.

16:06 EDT Applied Genetic reports interim data from rAAV2tYF-CB-hRS1 trial - Applied Genetic (AGTC) reported topline interim six-month data from its Phase 1/2 clinical trial of rAAV2tYF-CB-hRS1, an investigational AAV-based gene therapy delivered via intravitreal injection for X-linked retinoschisis,or XLRS, due to mutations in the RS1 gene. Results from the study show that rAAV2tYF-CB-hRS1 is generally safe and well-tolerated, but no signs of clinical activity were observed at six-months. As per the study protocol, AGTC will continue to monitor enrolled patients at scheduled visits through the end of the study. AGTC also announced that the company will regain full rights to the XLRS and X-linked retinitis pigmentosa, or XLRP, programs and the three other partnered discovery programs following Biogen's (BIIB) termination of the collaboration agreement, which will be effective on March 8. The company will complete patient monitoring activities on the XLRS program according to the clinical protocol but will not further develop the product. AGTC plans to advance the XLRP program as previously disclosed, and will determine next steps for the three discovery programs over the next several months. The Phase 1/2 XLRS trial is an open-label, dose escalation study designed to assess the safety and efficacy of intravitreal administration of the AAV-based gene therapy in patients diagnosed with XLRS caused by mutations in the RS1 gene. Trial participants were enrolled sequentially in four groups. Individuals in Groups 1, 2 and 3 received a low, middle or high dose, respectively, of the investigational study agent. Patients in Group 4 received the maximum tolerated or high dose as determined by the first three groups. In addition, a group of pediatric patients was enrolled at the middle dose. The primary endpoint of this study was designed to evaluate safety and tolerability, whereas secondary efficacy outcomes included changes in visual acuity, visual field, schisis, or cystic, cavity size and ERG b-wave amplitude, among others. A total of 27 subjects were treated and all subjects completed study visits through at least month six. AGTC will continue to monitor study participants as required in the study protocol. There were no signs of clinical activity over the six-month interim analysis period. There were no study discontinuations and no dose-related toxicities. Mild to moderate ocular inflammation resolved with and without steroid treatment and baseline patient demographics were relatively well-balanced.

16:06 EDT Boyd Gaming announces new $100M share repurchase plan - Boyd Gaming announced that its Board of Directors has authorized a new share repurchase program of $100M. The program is in addition to the company's existing repurchase authorization.

16:04 EDT Kratos Defense wins $424M multi- award U.S. Air Force contract - Kratos Defense & Security Solutions announced that its winning team, led by Space Vector Corporation, recently received an indefinite-delivery/indefinite-quantity contract to support the U.S. Air Force's Sounding Rocket Program-4.The seven-year contract has a total potential value of up to $424M, which is available to Kratos/Space Vector and one other awardee. The Space Vector and Kratos team will provide system engineering, vehicle design, manufacturing, integration and launch support services for sub-orbital rocket vehicles supporting prototype weapon systems development and missile defense system target tests. Kratos is an industry leader in the rapid design, development and fielding of technologically advanced, affordable systems. Kratos, through its Defense & Rocket Support Services Division is a leading provider of products, solutions, and services supporting ballistic missile defense, hypersonics, Aegis, AMDR, sounding rockets, directed energy and other national security and scientific programs. "The Kratos team brings a highly knowledgeable team with extensive experience delivering advanced rocket solutions to support emerging experimental and national security mission requirements for NASA and the Department of Defense," said Dave Carter, President for KDRSS. "Kratos is extremely excited to work with the Space Vector team to deliver affordable and reliable suborbital vehicle solutions for advanced targets and future hypersonic test programs."

16:01 EDT Arrow Electronics announces additional $600M stock buyback - Arrow Electronics announced the approval by the company's board of the repurchase of up to an additional $600 million of common stock through a share repurchase program. The company has repurchased approximately $1.1 billion worth of shares since the beginning of 2014.

16:00 EDT Applied Genetic trading halted, news pending

15:39 EDT Farfetch rises after agreeing to acquire Stadium Goods in $250M deal - Shares of Farfetch (FTCH) rose after the company announced an agreement to acquire sneaker and streetwear marketplace Stadium Goods. WHAT'S NEW: Farfetch announced before the market open that it agreed to acquire Stadium Goods, "the world's premier sneaker and streetwear marketplace," for an enterprise value of $250M. The consideration payable by Farfetch will be in the form of cash and Farfetch shares, with the exact amounts to be determined at completion following customary adjustments, the company said. The acquisition is subject to customary closing conditions and is expected to be completed in the first quarter of 2019. Commenting on the deal, Farfetch CEO and co-chairman Jose Neves said, "We are thrilled to welcome Stadium Goods to the Farfetch family. Having already collaborated with its exceptional team via the Farfetch marketplace, it is clear that there is a great opportunity for our two companies to leverage each other's strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion. The Stadium Goods team has built an incredible company, with a host of talented people, dedicated and loyal customers and remarkable brand equity. I am confident that we can help Stadium Goods grow its international presence for sneakerheads around the world through our expertise in technology, logistics and data. Farfetch will benefit from Stadium Goods' brand, access to supply and a team with a strong passion for and knowledge of luxury streetwear. We can't wait to get started with John, Jed and the rest of the Stadium Goods team." PRICE ACTION: In late afternoon trading, Farfetch shares are up 4.2% to $23.49.

15:20 EDT NJ reports November gaming revenue up 24.7% to $257.4M - New Jersey's Division of Gaming Enforcement reported that total gaming revenue for November was $257.4M, compared to $206.4M in November 2017, reflecting a 24.7% increase. Casino win for November was $209.2M increasing 12.6% from the same month last year. Internet gaming win was $26.9M in November, compared to $20.6M in the prior period, reflecting an increase of 30.7%. Sports wagering gross revenue was $21.2M for the month. Publicly traded companies in the casino gaming space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).

15:01 EDT Communications Systems chairman Curt Sampson announces retirement - Communications Systems announced that Curtis A. Sampson has retired as the company's chairman of the board, but that he will continue as a member of the board with the title, "Chairman Emeritus." Sampson founded CSI in 1969, took the company public in 1981, and then led it to become a national force in telecommunications components and systems. Under Curt Sampson's leadership, CSI also spun off two other public companies operating cable television systems and rural telephone companies. The company also announced today that Roger Lacey, CSI's Chief Executive Officer and Vice Chairman, has been named as the Executive Chairman of the CSI Board of Directors. Lacey will continue to serve as CEO of CSI, but the company anticipates that in 2019 a new CEO will be appointed to lead CSI.

14:32 EDT WSFS Financial receives stockholder approval to combine with Beneficial Bancorp - WSFS Financial (WSFS) announced that its stockholders overwhelmingly approved the previously announced merger of Beneficial Bancorp, Inc. (BNCL) with and into WSFS at a special meeting of stockholders held today. As previously announced, Beneficial stockholders approved the merger at a special meeting of stockholders held on December 6, 2018. Subject to the receipt of the required regulatory approvals and the satisfaction of other conditions to closing, the parties expect to close the merger in the first quarter of 2019. The projected system conversion and rebranding is expected to occur in August 2019.

14:03 EDT Turkcell signs agreement to transfer shares in Fintur to Sonera - Turkcell announced the signing of a binding agreement with respect to the transfer of its shares in its 41.45% owned subsidiary Fintur Holdings B.V. to Sonera Holding B.V. The transfer of shares is expected to be completed following the transfer of Fintur's subsidiary Kcell JSC to Kazakhtelecom and obtainment of other regulatory approvals. The final value of the transaction will be finalized following the respective adjustments. Based on the calculation over Fintur's financials as of November 30, 2018, the value of the transaction is anticipated to be approximately EUR 350M. Following the transaction, Turkcell will continue focusing on investments providing growth through digital services in the global arena.

13:07 EDT Siemens Government Technologies to lead Los Alamos National Lab modernization - Siemens Government Technologies is proud to extend its long-standing partnership with the U.S. Department of Energy through the award of a new task order under DoE's Energy Savings Performance Contract for energy efficiency and resiliency improvements at Los Alamos National Laboratory, under an initial $45.8M implementation contract award. Over the anticipated 21-year performance period, total value of the contract is projected at $555M. Relied upon for its mission critical work in maintaining the nation's nuclear deterrent, LANL is seeking to replace and enhance an aging and inefficient steam plant constructed more than 60 years ago, responsible for heat and limited cogeneration of power to buildings that house more than half of employees on the LANL campus. Drawing from the expertise of Siemens' Power and Gas and Power Generation Services divisions, the contract will be implemented in multiple phases. The first phase includes upgrading an existing gas turbine and installing a new generator, installing two new high efficiency boilers and a new high-pressure gas line with a new gas compressor for maximum efficiency and throughput. Subsequent phases will incorporate the replacement of a failing steam condensate return system with a protected durable condensate return - essential for greater heating capacity and flexibility as well as the introduction of a complete combined heat and power system with auxiliary boilers for redundant heat capacity. Additionally, Siemens will provide vital operations, maintenance, repair and replacement services as appropriate throughout the life cycle of the project. Taken as a whole, the full project will significantly increase LANL's resiliency and energy security, while simultaneously reducing energy, water and maintenance costs.

13:03 EDT Hess provides update on long term value creation strategy execution - Hess Corporation will provide a detailed update on progress in executing its strategy for long term value creation at its Investor Day in Houston. The company's plans through 2025 are expected to deliver strong performance across the following areas: Compound annual production growth of more than 10% combined with margin expansion set to drive compound annual cash flow growth of approximately 20% through 2025; Bakken production set to grow to approximately 200 thousand barrels of oil equivalent per day by 2021 and generate more than $1b of annual free cash flow post 2020 at a $60 per barrel WTI oil price; World class Guyana position with more than 5B barrels of oil equivalent gross discovered resources offers industry leading financial returns and cost metrics; Structurally lowering costs to a portfolio breakeven of less than $40 per barrel Brent by 2025; Strong cash position, 2019 WTI hedges and spending flexibility provide ability to fund high return growth projects in a low oil price environment without equity or debt financing.

12:35 EDT Salient Capital reports 11.92% passive stake in Altus Midstream

12:32 EDT United Airlines announces international route expansion in San Francisco - United Airlines announced its largest ever international network expansion from its hub at San Francisco International Airport. The airline will offer Bay Area customers nonstop year-round service to Toronto and Melbourne, Australia and seasonal service to New Delhi. United also announced it will begin a second daily flight between San Francisco and Seoul, South Korea. All routes subject to government approvals. In addition to the new routes, in 2019, United will begin new year-round nonstop service between San Francisco and Auckland, New Zealand, Tahiti, French Polynesia and Amsterdam. "This route expansion solidifies United's position at San Francisco as the gateway airline serving destinations across the Pacific, the continental United States, as well as to Europe and beyond," said Oscar Munoz, United's CEO. "It serves as a fitting capstone to all our efforts that made 2018 a breakthrough year for United, from delivering strong financial performance to currently leading in on-time departures for the second year in a row."

12:00 EDT Just Energy falls -9.4% - Just Energy is down -9.4%, or -38c to $3.67.

12:00 EDT Quanex rises 13.4% - Quanex is up 13.4%, or $1.65 to $14.00.

12:00 EDT Sparton rises 39.4% - Sparton is up 39.4%, or $5.17 to $18.29.

11:48 EDT Lowe's trading resumes

11:34 EDT Lowe's reiterates guidance for FY18

11:31 EDT Asia Research & Capital Management reports 4.36% passive stake in Transocean

11:27 EDT Lowe's trading halted, news pending

11:18 EDT Avaya Holdings trading resumes

11:04 EDT Parker Drilling enters Chapter 11 under restructuring support agreement - Parker Drilling Company announced that it and its material U.S. subsidiaries have entered into a restructuring support agreement with holders of the company's securities, including a "significant amount" of its 7.50% senior notes due 2020 and 6.75% senior notes due 2022, outstanding preferred stock and outstanding common stock. The transaction contemplated is "expected to strengthen the Company's financial foundation and position it to capitalize on further opportunities in the market." To implement the terms of the agreement, Parker has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. Parker's non-U.S. subsidiaries and certain U.S. subsidiaries are excluded from the filing and will not be affected. Parker intends to seek confirmation of a pre-arranged Plan of Reorganization. "Importantly, members of the Consenting Stakeholders have indicated their support for the proposed Plan," it said in a statement. The company anticipates that its cash flow and existing liquidity will be sufficient to support global operations during this period and has further augmented liquidity with access to $50M in debtor-in-possession financing. The lenders under the DIP financing have also committed to fund an exit facility of $50M, which amount may be increased following emergence, added Parker. The company's proposed plan, which is subject to court approval, reduces approximately two-thirds of funded debt and injects $95M of new, fully committed equity capital through a backstopped rights offering. It also contemplates the issuance of a new $210M second-lien term loan due 2024 to satisfy the remaining existing Notes. Current preferred equity holders, as well as common equity holders if the class votes to approve the plan, will receive reorganized equity and warrants. Parker states, "Importantly, the Plan and requested first day relief contemplate that vendors and other unsecured creditors who continue to work with the company on existing terms will be paid in full and in the ordinary course of business. All existing customer and vendor contracts are expected to remain in place and be serviced in the ordinary course of business." The existing management team is expected to remain in place, and the company expects to complete the restructuring process in Q1 of 2019.

10:42 EDT Air Products to build, operate large-scale air separation unit in Minnesota - Air Products announced plans to build, own and operate a new air separation unit in the Twin Cities area of Minnesota. The new large-scale facility, scheduled to be onstream in early-to-mid-2020, will provide reliable liquid industrial gas options for local customers and distributors in the region. The new large-scale ASU will produce liquid nitrogen, oxygen and argon, allowing Air Products to strengthen and grow its presence in a dynamic geography. Air Products currently owns and operates over 300 air separation plants in over 40 countries worldwide. In addition to its plants, the company has sold, designed and built more than 2,000 air separation units globally. Air Products' cryogenic offerings span plants with a capability of 50 tons per day to single train facilities with oxygen production capacities beyond 4,000 TPD.

10:35 EDT Ebix CEO to take salary in Ebix stock instead of cash - Ebix announced a number of key initiatives to enhance shareholder value and reflect the Ccmpany's strong faith in its fundamentals. The company declared that the Ebix Compensation Committee has accepted the Ebix CEO Robin Raina's request to forego his cash salary and instead accept Ebix stock for equivalent value every month, at the stock price prevailing at that time in the market. Ebix CEO will receive stock instead of cash for a period of time, until the stock price is $150 per share or the economic equivalent as adjusted for future corporate actions such as stock splits that may occur from time to time. With a present holding of approximately 3.8M shares in Ebix at present, Robin made the decision in view of his strong faith in the company's fundamentals and future business outlook.

10:33 EDT Merck, Instituto Butantan collaborate to develop vaccines for dengue infections - Merck and Instituto Butantan, Sao Paulo, Brazil announced a collaboration agreement to develop vaccines to protect against dengue virus disease, the mosquito-borne infection. Instituto Butantan and Merck have licensed certain rights from National Institute of Allergy and Infectious Diseases, part of the United States National Institutes of Health, for the development of live attenuated tetravalent vaccines. Instituto Butantan's dengue vaccine candidate, TV003, is currently being evaluated in a large Phase 3 study in Brazil. Under the agreement, Merck and Instituto Butantan have agreed to collaborate to share clinical data and other learnings from their respective dengue vaccine development programs, both derived from licensed materials from the NIAID. Instituto Butantan will receive a $26M upfront payment from Merck and is eligible to receive up to $75M for the achievement of certain milestones related to the development and commercialization of Merck's investigational vaccine as well as potential royalties on sales. Instituto Butantan will retain responsibility for the manufacturing and commercialization of their investigational vaccine, TV003, in Brazil. The agreement builds upon a productive long-term collaboration between MSD Brazil and Instituto Butantan, initiated in 2012, for human papillomavirus and Hepatitis-A vaccine products.

10:25 EDT XPO Logistics trading resumes

10:07 EDT Generex receives IND approval from FDA for Phase II combination study - Generex Biotechnology (GNBT) announced that the FDA had reviewed the company's investigational new drug application and given notification that the study can proceed. The study: A Phase II Clinical Trial of Pembrolizumab, or Keytruda, in combination with the AE37 Peptide Vaccine in Patients with Metastatic Triple Negative Breast Cancer, is sponsored by Generex and conducted under a collaboration agreement with Merck (MRK) and a clinical trial agreement with the NSABP Foundation. The combination study builds on previous clinical studies of both AE37 and Keytruda, AE37, a cancer vaccine, was the subject of a 300 patient prospective, randomized and single-blinded Phase II study in patients with breast cancer. That study showed a strong trend toward reduced relapses,particularly in patients with triple negative breast cancer. Keytruda also has shown encouraging results in patients with triple negative breast cancer when used as monotherapy. The complementary mechanisms of action of the two drugs suggest the combination may have the potential to be better than either alone.

10:01 EDT Emerson acquires Advanced Engineering Valves, terms not disclosed - Emerson announced it has acquired Advanced Engineering Valves, a leading manufacturer of innovative valve technology that helps LNG customers operate more efficiently. The transaction will enable Emerson, a global leader in automation solutions and technology, to provide its customers with the world's broadest portfolio of valves to improve process performance and reliability. Terms of the deal were not disclosed.

10:00 EDT Just Energy falls -10.1% - Just Energy is down -10.1%, or -41c to $3.64.

10:00 EDT Quanex rises 12.1% - Quanex is up 12.1%, or $1.50 to $13.85.

10:00 EDT Sparton rises 39.3% - Sparton is up 39.3%, or $5.16 to $18.28.

09:50 EDT Liberty Expedia Holdings (Series B) trading resumes

09:48 EDT FDA posts tenative approval for Taro Pharmaceutical's Dapsone - Reference Link

09:47 EDT Global Medical REIT falls -6.6% - Global Medical REIT is down -6.6%, or -62c to $8.91.

09:47 EDT Sabesp rises 7.3% - Sabesp is up 7.3%, or 54c to $7.90.

09:47 EDT Sparton rises 39.5% - Sparton is up 39.5%, or $5.18 to $18.30.

09:45 EDT Liberty Expedia Holdings (Series B) trading halted, volatility trading pause

09:42 EDT Lowe's sees 12% long-term operating margin - In slides being presented at its 2018 Analyst & Investor Conference, Lowe's forecast a long-term operating margin target of 12% and a long-term return on invested capital target of 35%.

09:35 EDT Honeywell to provide modular gas processing plant to Cogent Midstream - Honeywell announced that its UOP Russell business will provide a 200-million-cubic-foot-per-day gas processing plant to Cogent Midstream. When completed late next year, the new plant will extract valuable natural gas liquids from natural gas produced from several counties in the Wolfcamp Formation of the Permian Basin in Texas. Honeywell will design and supply a UOP Russell modular cryogenic plant with refrigeration and dehydration units. The plant design streamlines project schedules and is customized for the unique gas composition in the Basin.

09:27 EDT Curtiss-Wright announces new $100M share repurchase authorization - Curtiss-Wright Corporation announced that its Board of Directors has authorized an additional $100M for future share repurchases. Of this authorization, the company has elected to use $50M for additional opportunistic share repurchases in 2018, to begin immediately via a 10b5-1 program. Beginning in January 2019, the Company expects to repurchase $50M additional shares via a 10b5-1 program, which is expected to more than offset potential dilution from compensation plans. Earlier in 4Q18, the company repurchased more than $36M of shares remaining under its prior opportunistic share repurchase authorization, raising total opportunistic repurchases to approximately $49M in 2018. In addition, the company expects to complete its two existing $50M 10b5-1 share repurchase programs authorized for 2018 by the end of the year. As a result of these actions, the company expects total 2018 share repurchases of nearly $200M, and approximately 44.3M diluted shares outstanding as of December 31, 2018.

09:25 EDT Waitr Holdings to acquire Bite Squad for approx. $321.3M - Waitr Holdings announced that it has signed definitive agreements to acquire Bite Squad, an online restaurant food delivery service, for an aggregate amount of approximately $321.3M, subject to adjustments, based on the closing price of Waitr's common stock on December 11, 2018. The purchase price consists of a combination of cash and shares of Waitr common stock. Founded in 2012 and based in Minneapolis, Bite Squad operates a three-sided marketplace, consistent with Waitr's business model, which connects more than 11,000 active restaurants with approximately 6,300 W-2 drivers and approximately 889,000 active diners. Bite Squad's strategy is to be a market leader in nearly all of the markets in which they operate. Bite Squad has a high growth business model, with 85% year-over-year gross food sales growth and 98% year-over-year revenue growth in 3Q18. The combination will significantly expand Waitr's scale and footprint across the U.S., serving a total of over 86 markets in more than 500 cities and 22 states; Shared strategy to establish a market leadership position in the cities which the Company operates; Leverage respective strengths to create a best-in-class organization; and Opportunity to realize cost synergies. Waitr has entered into definitive agreements to acquire Bite Squad, subject to customary closing conditions, for an aggregate amount of approximately $321.3M, subject to certain adjustments, based on the closing price of Waitr's common stock on December 11, 2018. The purchase price consists of approximately $202.1M in cash and 10.6M shares of Waitr's common stock. In connection with the acquisition, Waitr entered into a debt commitment letter with Luxor Capital Group on behalf of Lugard Road Capital Master Fund and one or more of its funds and/or affiliates, pursuant to which Luxor will provide senior secured first priority term loans in the aggregate principal amount of approximately $42.1M at the closing. The proceeds of the term loans will be used to finance a portion of the consideration for the acquisition and for general corporate purposes. The acquisition is expected to close by the end of January 2019.

09:20 EDT Laureate Education to sell institutions in Spain, Portugal for $871M - Laureate Education announced that it has signed an agreement with a company backed by the Permira funds, for the sale of Laureate's institutions in Spain and Portugal, contingent on the receipt of all necessary regulatory and accreditation approvals. The institutions included in this agreement are Universidad Europea de Madrid, or UEM, Universidad Europea de Valencia, or UEV, Universidad Europea de Canarias, or UEC, Universidade Europeia in Portugal, and Instituto Portugues de Administracao de Marketing, or IPAM, in Portugal. Together, these institutions of higher education offer undergraduate and graduate degree programs and an international education tailored to the job market. The transaction is expected to be completed within the first half of 2019, subject to regulatory approvals, including approval by applicable competition and education regulatory agencies. The transaction value is $871M at the current exchange rate, subject to customary adjustments at closing. The two parties look forward to a smooth transition and timely completion of the process.

09:19 EDT Under Armour COO says commercial pipeline is 'stacked'

09:17 EDT Under Armour COO: 'After 2020, you're going to see a consumer-centric brand' - Under Armour COO Patrilk Frisk said, "We should be able to deliver consistent financial results going forward."

09:15 EDT Nevada awards Harris $108M contract to provide shared public safety radio system - The Nevada Shared Radio System has awarded Harris Corporation a $108M contract to provide a critical communications network that increases coverage, reliability, interoperability and functionality for more than 16,000 users across 90 agencies. Nevada Department of Transportation, NV Energy and Washoe County will transition from a Harris EDACS system to a new statewide Harris P25 Phase 2 digital network. The system is designed to allow law enforcement, public safety workers, utility workers, public works and others to communicate across agencies on a statewide basis. Harris will provide an end-to-end 126-site multicast/simulcast system, including a Voice, Interoperability, Data and Access converged and integrated service platform; SymphonyTM command center dispatch consoles; XL-200P full-spectrum, LTE-capable, multiband P25 radios; and the BeOn mobile Push-to-Talk application for integration of narrowband and broadband solutions.

09:11 EDT Fly Intel: Pre-market Movers - HIGHER: Hain Celestial (HAIN), up 5% after announcing its board formed a special committee to consider strategic alternatives... United Rentals (URI), up 5% after providing FY18 and FY19 guidance at its investor day... DBV Technologies (DBVT), up 7% after its presentation of an oral abstract at the Skin Disease Summit.... Foamix (FOMX), up 12% after BofA Merrill Lynch analyst Jason Gerberry initiated the stock with a Buy and $11 price target citing de-risked dermatology assets. Gerberry said Foamix offers two late-stage drugs with efficacy that are competitive to existing therapies but offer a topical alternative to widely used oral minocycline, with less safety baggage as a systemically absorbed drug. UP AFTER EARNINGS: Pivotal Software (PVTL), up 1%. DOWN AFTER EARNINGS: Dave & Buster's (PLAY), down 13%. ALSO LOWER: Synergy Pharmaceuticals (SGYP), down 47% after the company announced an agreement with Bausch Health Companies (BHC), through which Bausch Health would acquire substantially all of Synergy's assets through Chapter 11 for $200M... eBay (EBAY), down 1% after Morgan Stanley analyst Brian Nowak downgraded eBay to Equal Weight from Overweight, stating that he had been wrong in his prior view about how quickly core marketplaces would deteriorate... Fluidigm (FLDM), down 5% after its 8.15M share secondary priced at $6.75 per share... Neurocrine Biosciences (NBIX), down 20% after its Phase IIb T-Force GOLD study for valbenazine in pediatric Tourette Syndrome did not meet its primary endpoint.

09:05 EDT MeiraGTx announces publication of new research on AAV-GAD gene therapy - MeiraGTx announced publication of research assessing the mechanism underlying the motor improvement observed in patients with Parkinson's disease who were treated with adeno-associated virus, or AAV, encoding glutamic acid decarboxylase, or AAV-GAD, an investigational gene therapy product candidate, in a completed Phase 2 study. In the new research, which was published in the November 28 issue of Science Translational Medicine, patients treated with AAV2-GAD gene therapy expressed a distinct treatment-related metabolic brain network, providing a clinical benefit by inducing the formation of new polysynaptic pathways connecting the STN to cortical motor regions. Rather than act through conventional motor pathways involving certain regions of the brain, AAV-GAD gene therapy was observed to co-opt adjacent "nonmotor" regions in the treated patients. The research published in Science Translational Medicine showed that patients treated with AAV-GAD gene therapy developed a unique treatment-dependent metabolic brain network, which reflected the formation of new functional pathways linking the STN to motor cortical regions. GADRP was characterized by increased metabolism in certain brain regions along with relatively reduced metabolic activity in other brain regions. The research also showed that the GADRP correlated with clinical improvement in the gene therapy-treated subjects as measured by changes in the Unified Parkinson's Disease Rating Scale motor ratings. In contrast, the clinical correlation with sham surgery-related pattern was not significant.

08:56 EDT Waitr Holdings Inc trading halted, news pending

08:47 EDT Franklin Financial Network promotes Chris Black to CFO - Franklin Financial Network has promoted Chris Black to Executive VP, CFO of Franklin Financial Network and Franklin Synergy Bank, effective immediately. Black joined the company on November 16, 2018, as Executive VP, Strategy. Sarah Meyerrose, who is stepping down as CFO, intends to retire from the company on January 15th. Before joining Franklin Financial Network, Black most recently served as Senior VP and CFO, Banking, for Nashville-based FirstBank, having joined FirstBank in May 2016.

08:43 EDT Orgenesis collaborates with BGU to research, develop carriers for cell culturing - Orgenesis, along with BGN Technologies an affiliate of Ben-Gurion University of the Negev, or BGU, announced a licensing and collaboration agreement on the research and development of BGU's dissolvable carriers for cell culturing. The technology was developed The Regenerative Medicine and Stem Cell, or RMSC, Research Center at BGU. Under the license agreement, Orgenesis has received the exclusive, worldwide rights to make, develop and commercialize technologies utilizing the dissolvable carriers for cell culturing. This unique technology has the potential to allow Orgenesis to reduce the cost and complexity of manufacturing its cell therapy programs.

08:41 EDT Amyris receives GRAS notification from FDA for zero calorie sweetener - Amyris announced that it has received a successful GRAS notification from the FDA for its zero calorie sweetener. With this notification, the FDA has accepted the unanimous conclusion of a panel of food-safety experts, the company announced on August 30, that Amyris's zero calorie sweetener made from sugarcane is safe for use as a sweetener.

08:36 EDT Green Plains, Optimal Fish Food form 50/50 joint venture for aquaculture feeds - Green Plains and Optimal Fish Food announced the companies have formed Optimal Aquafeed, a 50/50 joint venture to produce aquaculture feeds utilizing proprietary techniques and high-protein feed ingredients. The joint venture brings together Green Plains' production capabilities, commodity expertise and back office knowledge and combines that with Optimal Fish Food's intellectual property, industry expertise and customer relationships and does not require a material capital investment for success. Green Plains and Optimal Fish Food believe there is significant room for nutritional improvements in aquaculture feeds through research and understanding rapidly changing availability of ingredients, especially next generation high-protein feed ingredients that will be produced at Green Plains' ethanol plants in the future. By incorporating high-quality agricultural products along with plant-based proteins, algae, and other single-cell protein ingredients, Optimal Aquafeed will be able to meet the unique and growing needs of aquaculture producers globally.

08:34 EDT Adaptimmune says CTO Gwen Binder to leave company in January 2019 - Adaptimmune announced that Gwen Binder, PhD, Chief Technology Officer, will be leaving the company at the end of January 2019. Binder was the first US employee of Adaptimmune in 2011, transitioning across from the company's T-cell translational development collaboration program with the University of Pennsylvania. She led much of the early clinical development, manufacturing, translational and more recently research components of the company.

08:33 EDT Taoping says Alliance membership reaches 99 companies - Taoping announced that thirteen companies have joined the Taoping Alliance at the Taoping New Media Promotion Conference held in Wuhan city on December 7, 2018. With the addition of the 13 companies, the total membership of Taoping Alliance reached 99. Taoping Alliance is a nationwide advertising resource sharing platform jointly founded by TAOP and Shenzhen Taoping New-Media Limited.

08:32 EDT Aduro Biotech data shows magnitude of STING activation by ADU-S100 - Aduro Biotech (ADRO) announced the publication of a peer-reviewed paper in Cell Reports authored by Aduro scientists and Novartis (NVS) collaborators as part of their ongoing research to study intratumoral stimulator of interferon genes, or STING, pathway activation as a potential therapeutic approach for the treatment of cancer. In this study, researchers determined an intratumoral dosing regimen of STING pathway activator, ADU-S100, optimized for adaptive immunity in mouse models. While high doses of ADU-S100 were effective at clearing injected tumors, researchers found that higher tumor ablative dosing regimens could compromise durable anti-tumor immunity. Lower immunogenic doses of ADU-S100 were shown to optimally elicit CD8+ T cell responses required for systemic and durable anti-tumor immunity, and were also found to be efficacious in combination with checkpoint inhibitor therapy.

08:28 EDT Nuvectra receives CE Mark approval for Algovita SCS - Nuvectra announced that it has received full-body MR-conditional approval for the company's Algovita SCS system from its European Notified Body, TundefinedV SundefinedD. The approval closely follows the company's announcement regarding its receipt of head-only MR-conditional approval for Algovita from the FDA.

08:21 EDT Gentherm announces CFO Barry Steele to step down, Matteo Anversa to succeed - Gentherm (THRM) announced that Matteo Anversa will join the company's leadership team as executive VP, CFO and treasurer on January 1, 2019. Anversa will lead all of Gentherm's financial and IT operations on a global basis, and he will report to Gentherm's president and CEO, Phil Eyler. Anversa succeeds Barry Steele as Gentherm's CFO. Steele will step down as the company's VP of finance, CFO and treasurer effective upon Anversa's start date. Steele will provide transition services through February 15, 2019. Anversa joins Gentherm from Myers Industries (MYE), an international manufacturer of polymer-based material handling products and a wholesale distributor of tire repair and retread products, where he was executive VP, CFO since December 2016. At Myers Industries, he was responsible for driving cash flow, improving working capital, managing business restructuring and M&A activities, strengthening corporate controls and developing the company's IT strategy.

08:15 EDT Alkaline Water announces co-packing agreement with World Choice Bottling - Alkaline Water announced that it has entered into a new co-packing agreement with British Columbia, Canada-based World Choice Bottling. World Choice is scheduled to begin production of Alkaline88 in early 2019 utilizing Alkaline Water's proprietary electrolysis beverage process, expediting the company's growth opportunities in both China and Canada.

08:09 EDT Neurocrine down 16% to $72.00 after valbenazine did not meet endpoint in study

08:07 EDT Veritone announces multi-market agreement with Univision radio network - Veritone announced an agreement with Univision Communications' nationwide Spanish-language radio network to use its aiWARE platform to deliver near real-time insights and advertising performance intelligence for national and local advertisers. Veritone's aiWARE is being used across 22 of Univision's radio stations in 15 markets, plus four nationally syndicated audio programs and networks. According to the Nielsen Audio Today 2018 report, there are more than 44 million Hispanic radio listeners in the United States. aiWARE will provide Univision's local media sales teams, national representation partners and network sales team with advertising intelligence around the performance of both traditional and endorsement-based campaigns. Additionally, while arming these teams with powerful insights and tools including AI-powered Spanish language transcription in near real-time, aiWARE will provide Univision's programming and digital teams with a searchable, transcribed archive of the radio broadcast to better find soundbites, interviews, and edited content.

08:06 EDT Staples, Essendant announce extension of tender offer for shares of Essendant - 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 6:00 p.m., New York City time, on December 18, 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 6:00 p.m., New York City time, on December 11, 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 conditions.

08:05 EDT Elbit Imaging: Investor to pay consideration for SPV in two installments - Elbit Imaging Ltd. announced that, further to its press release dated August 6, 2018, regarding an agreement with a local investor to waive any of its rights and interest in the SPV which holds a land plot in Kochi, India for a total consideration in the amount of approximately 1.2 million EURO to be paid on November 30, 2018; that the company and the Investor have agreed that the consideration will be paid in two installments as follows: 50% of the consideration will be paid to the company until December 31, 2018 and the remaining 50% will be paid to the company until April 30, 2019. The company will update regarding any new developments.

08:05 EDT Legg Mason reports preliminary AUM approximately $741.6B as of November 30

08:03 EDT Piedmont to change Nasdaq ticker to 'PLL' - Piedmont Lithium Limited announced that Nasdaq has approved the change of the ticker symbol for the company's ADRs to "PLL" from "PLLL". The change is expected to be effective as of December 13, 2018 in the U.S.

08:02 EDT Express Scripts, Walmart sign three-year agreement - Walmart (WMT) and Express Scripts (ESRX) announced an extension to the companies' existing network agreement to provide access to Walmart's prescription services for Express Scripts clients' covered members. The companies also made a commitment to deliver additional affordable prescription solutions to millions of underinsured and uninsured Americans. As part of the ongoing relationship, Walmart is partnering with Express Scripts' to access their unique pricing on dozens of brand-name prescription drugs, and create additional value for its customers. As one example, Express Scripts has introduced a novel solution - InsideRx -- to provide discounts, on average 40%, to uninsured Americans on a growing number of important brand-name prescription drugs. Express Scripts works with major drug manufacturers to lower the cost of high-priced medications and will continue to expand the program and deliver savings on additional medications for the whole family.

07:45 EDT Ability regains Nasdaq compliance - Ability announced that it received a letter from Nasdaq notifying the company that it has regained compliance with the minimum shareholders' equity requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550.

07:39 EDT Zai Lab announces acceptance of Zejula NDA submission by NMPA - Zai Lab announced that the China National Medical Products Administration, or NMPA, has accepted its new drug application, or NDA, for Zejula as a Category 1 drug for the maintenance treatment of adult patients with recurrent epithelial ovarian, fallopian tube, or primary peritoneal ovarian cancer who are in a complete or partial response to platinum-based chemotherapy. Zejula is a potent and highly selective PARP1/2 inhibitor that does not require BRCA mutation or other biomarker testing prior to administration.

07:34 EDT Audi names interim CEO Bram Schot as chairman of the board - The Supervisory Board of AUDI AG has appointed Bram Schot as the Chairman of the Board of Management effective January 1, 2019. Schot has headed the company since June 2018 as interim CEO. Schot will continue temporarily to hold Board of Management responsibility for Sales and Marketing from January 1 onwards. "With the appointment of a new Chairman of the Board of Management, we have laid important groundwork for Audi's future orientation. As interim CEO, Bram Schot has already done a convincing job in recent months. He is pushing forward with the cultural change in his team and is effectively tackling the current challenges. With the benefit of a strong mandate, he will further accelerate the transformation of the company and lead the Four Rings to new successes," said the Audi Supervisory Board Chairman and VW Group CEO, Dr. Herbert Diess.

07:32 EDT Aridis Pharmaceuticals enrolls first subject in Phase 1/2a lung infection trial - Aridis Pharmaceuticals has enrolled the first subject in a Phase 1/2a clinical study evaluating the investigational candidate AR-501 for treatment of chronic bacterial lung infections in patients with cystic fibrosis. The AR-501 study is a Phase 1/2a clinical trial investigating the safety and pharmacokinetics of inhaled AR-501 in healthy volunteers and cystic fibrosis patients with chronic bacterial lung infections. Phase 1 data are anticipated during 4Q19 and Phase 2a data are anticipated for 4Q20. The Phase 1/2a trial is part of a collaboration with the Cystic Fibrosis Foundation, which has committed up to $7.5M in funding through Phase 1/2a.

07:30 EDT Pointer Telocation and Pricol to form joint venture for telematics solution - Pointer Telocation and Pricol , a manufacturer of automotive components for the global automotive market intend to enter into a joint venture to provide advanced telematics and IoT solutions in India and other countries in South East Asia. Vehicle Tracking Systems will become a mandatory feature for all public transport vehicles and commercial vehicles requiring national permit beginning January 2019. Pointer will control 51% interest and Pricol will control 49% interest in this proposed joint venture.

07:12 EDT Helius Medical announces PoNS application for CE Mark - Helius Medical announced that its wholly owned subsidiary, NeuroHabilitation, has submitted an application for a CE Mark, the receipt of which will allow the company to market its Portable Neuromodulation Stimulator, or PoNS in the European Union. PoNS is a licensed class II medical device in Canada and an investigational medical device in the U.S. and the European Union.

07:09 EDT Lennox sees $347M in insurance proceeds for 2018, 2019 - Overall for 2018 and 2019, the company expects to receive approximately $347 million in insurance proceeds, including approximately $124 million in 2018 and $223 million in 2019. On a GAAP basis, the company expects a pre-tax gain of approximately $132 million in non-core earnings over 2018 and 2019 due to the difference in book and replacement value of assets. For 2018 on a non-core basis - which includes tornado site clean-up costs, asset write-offs, and factory-inefficiency costs -- the company has received $97 million in insurance proceeds, compared to previous guidance for $80 million, for an incremental $17 million or $0.32 per share to the prior 2018 GAAP guidance. For 2019 on a non-core basis, the company now expects approximately $35 million of tornado impact, compared to $15 million previously, and insurance proceeds of approximately $150 million compared to more than $15 million previously - incremental to 2019 GAAP guidance by approximately $2.30 per share. For 2018 on a core basis for the Residential business segment, the company received $27 million, or $0.51 per share, of insurance proceeds in the fourth quarter to cover lost profits from business interruption in the third quarter of 2018; these proceeds were previously expected in 2019. The core impact for lost profits in 2018 still to be offset by insurance recovery in 2019 is now approximately $38 million compared to prior guidance of $65 million. For 2019 on a core basis for the Residential business segment, the company continues to expect approximately $35 million of tornado impact and now expects approximately $73 million of insurance recovery after the $27 million that was paid in 2018, a timing shift of $0.51 from 2019 to 2018 guidance.

07:08 EDT Molina Healthcare awarded CHIP contract in Mississippi - Molina Healthcare announced that its wholly owned subsidiary, Molina Healthcare of Mississippi, has been awarded a contract by the Mississippi Division of Medicaid, or DOM, for the Children's Health Insurance Program, or CHIP. With this award, Molina is one of two managed care organizations selected to administer CHIP in each of the state's nine regional service areas and all 82 counties. The terms of the new three-year contract are effective February 1, 2019, and services are expected to begin on July 1, 2019, pending the completion of a readiness review with DOM.

07:08 EDT Garmin Health, ActiGraph collaborate on wearable solutions for clinical trials - Garmin International, a unit of Garmin, announced a collaboration with ActiGraph to explore creation of innovative health and activity monitoring solutions that would utilize Garmin wearables and ActiGraph's CentrePoint data analytics platform for academic research, clinical trials, and remote patient monitoring. ActiGraph, a global leader in medical-grade activity and sleep monitoring solutions for the scientific community, provides wearable accelerometry monitors and a robust software technology platform that together form the most comprehensive data monitoring, analysis, and management solution in the industry. Considered the gold standard in objective, physical activity measurement, ActiGraph monitors are the most widely used and extensively validated devices of their kind, with clients at more than 1,500 pharmaceutical, academic, and scientific institutions in over 85 countries.

07:06 EDT Aphria signs letter of intent to supply medical cannabis in Paraguay - Aphria has signed a Letter of Intent with Insumos Medicos, a Paraguayan pharmaceutical manufacturing, import and distribution company, to enter into an exclusive supply and distribution agreement to provide medical cannabis in Paraguay. Upon completion of the proposed agreement, Paraguay will become the third market in Latin America, following Argentina and Colombia in which Aphria products will be distributed.

07:05 EDT Lennox sees FY19 CapEx approximately $215M - Including $115M in 2019 to complete the reconstruction of the Iowa manufacturing facility, funded by insurance proceeds. Sees $350M of stock repurchases in 2019; Effective tax rate of 22%-23% on an adjusted basis for the full year.

07:03 EDT JetBlue reports preliminary November traffic up 9.7% - JetBlue Airways Corporation reported its preliminary traffic results for November 2018. Traffic in November increased 9.7% from November 2017, on a capacity increase of 10.6%. Load factor for November 2018 was 83.5%, a decrease of 0.7 points from November 2017. JetBlue's preliminary completion factor was 99.3% and its on-time performance was 71.2%.

07:02 EDT Parker Drilling trading halted, news pending

07:00 EDT Southwest still sees Q4 RASM up 1%-2% y/y - Southwest Airlines is providing guidance regarding its fourth quarter 2018 financial and operational trends. The company has continued to experience stable unit revenue trends during fourth quarter 2018. Based on current bookings and yield trends, the company continues to expect its fourth quarter 2018 operating revenue per available seat mile, or RASM, to increase in the 1%-2% range, year-over-year. The company continues to expect $80M-$90M of year-over-year improvement in fourth quarter 2018 pre-tax results associated with its new reservation system capabilities, which is in line with the company's annual 2018 pre-tax goal of $200M. Based on current cost trends, the company continues to expect its fourth quarter 2018 operating costs per available seat mile, or CASM, excluding fuel and oil expense and profitsharing expense, to be flat to up 1%, year-over-year. Based on the company's fuel derivatives contracts and market prices as of December 7, 2018, the company now expects its fourth quarter 2018 fuel costs to be in the range of $2.25 to $2.30 per gallon, including $.07 per gallon in premium expense and an estimated $.07 per gallon in favorable cash settlements from fuel derivative contracts. This compares with the company's previous fuel cost guidance in the range of $2.30 to $2.35 per gallon, which included $.07 per gallon in premium expense and $.14 per gallon in favorable cash settlements from fuel derivative contracts, based on fuel derivative contracts and market prices as of October 19, 2018. The company continues to expect its fourth quarter 2018 year-over-year available seat mile growth to be in the 6%-6.5% range.

06:50 EDT Mallinckrodt subsidiary receives CRL from FDA for Roxicodon tablets NDA - SpecGx, a subsidiary of Mallinckrodt that operates its specialty generics business, announced that it has received a complete response letter, or CRL, from the FDA related to its new drug application, or NDA, for its investigational abuse-deterrent, immediate-release reformulation of Roxicodone tablets, USP for the management of pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate. In the letter, the agency provided guidance regarding areas of further evaluation necessary to resubmit the NDA for further review and potential approval of the drug, which was designed with properties to deter intravenous and intranasal abuse under the company's 505 new drug application MNK-812.

06:32 EDT AC Immune, Eli Lilly announce license and collaboration agreement - AC Immune (ACIU) and Eli Lilly and Company (LLY) announced that the two companies have signed a license and collaboration agreement to research and develop tau aggregation inhibitor small molecules for the potential treatment of Alzheimer's disease and other neurodegenerative diseases. The collaboration combines AC Immune's proprietary Morphomer platform technology with Lilly's clinical development expertise and commercial capabilities in central nervous system disorders. The collaboration will focus primarily on AC Immune's lead molecule, ACI-3024, which has demonstrated tau aggregation inhibition in preclinical models. Under the terms of the agreement, AC Immune will receive an upfront payment of CHF80M as well as $50M in exchange for a note, convertible to equity at a premium. AC Immune is also eligible to receive CHF60M in potential near-term development milestones, as well as other potential development, regulatory and commercial milestones up to approximately CHF1.7B, and tiered royalty payments in the low double digits. AC Immune will conduct the initial Phase 1 development of the Morphomer tau aggregation inhibitors, while Lilly will fund and conduct further clinical development. Lilly will receive worldwide commercialization rights for the tau aggregation inhibitors in the area of Alzheimer's disease. AC Immune has retained certain development rights in orphan indications and co-development and co-promotion options in certain indications outside AD. This transaction will be reflected in Lilly's reported results and financial guidance according to Generally Accepted Accounting Principles. There will be no change to Lilly's 2018 non-GAAP earnings per share guidance as a result of this transaction. This transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.

06:27 EDT Credit Suisse sees FY18 reported pre-tax income CHF3.2B-CHF3.4B - Sees FY18 APAC Markets net revenues approximately 8-10% lower than prior year. Return on tangible equity expected to be approximately 6%. Credit Suisse commented that "At our third quarter results on November 1, we said that despite continued geopolitical tensions surrounding global trade and the potential impact of central bank monetary policy changes, we believe the outlook for global economic growth over the long term remains positive, albeit at a lower level. We believe we are well positioned to continue to capitalize in the long term on the opportunities created by the growth in global wealth. Persistent challenging market conditions have not changed our positive long-term outlook; however we are mindful of the short term headwinds. Many of the actions that we have taken over the past three years - dealing with our legacy issues, lowering our break-even point, strengthening our capital position and significantly reducing our risk - were aimed at increasing our resilience in adverse conditions. Therefore, as we move into 2019, despite global geopolitical and macro-economic uncertainties, we believe we remain well positioned."

06:13 EDT Bausch Health to acquire Synergy Pharmaceuticals for $200M through Chapter 11 - Synergy Pharmaceuticals (SGYP) announced an agreement with Bausch Health Companies (BHC), through which Bausch Health would acquire substantially all of Synergy's assets, including all rights to Trulance, dolcanatide and related intellectual property, for approximately $200M in cash, subject to certain adjustments at closing, plus the assumption of certain liabilities related to the assets to be acquired. The sale is subject to a competitive process and the company's receipt of higher and better offers. To facilitate the sale and address its debt obligations, Synergy initiated voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The company fully intends to operate its business as usual while it works to complete the sale through the Chapter 11 process. Synergy has entered into a binding term sheet with its existing first lien lenders for debtor-in-possession, or DIP, financing in an aggregate principal amount equal to $155M, comprised of $110M of roll up pre-petition loan obligations and $45M of new money loans to support operations during the Chapter 11 and sale process. This financing, combined with existing cash on its balance sheet and normal operating cash flows, will allow Synergy to operate its business as usual and help fund its ongoing financial commitments while it works to complete the sale. The company also has filed customary motions with the court seeking authorization to continue employee wages and benefit programs, honor future vendor payments and maintain customer programs in the normal course in addition to certain other relief. The proposed sale to Bausch Health is expected to be conducted through a supervised sale process under Section 363 of the Bankruptcy Code and will be subject to court-approved bidding procedures, receipt of higher and better offers at auction and approval of the court. As part of the sale through the Chapter 11 process, Synergy and its advisors will evaluate competing bids that may be submitted in order to ensure the company receives the highest and best offer for its assets. The agreement with Bausch Health comprises the initial stalking horse bid in the court-supervised auction process. Synergy aims to complete this process by the end of Q1 of 2019. The agreement will be filed with the Securities and Exchange Commission.

06:05 EDT McDonald's to reduce overall use of antibiotics in beef - McDonald's is announcing a policy to reduce the overall use of antibiotics important to human health, as defined by the World Health Organization, which applies across 85% of its global beef supply chain. According to the WHO, antibiotic resistance is one of the biggest threats to global health, food security, and development today. With the new policy, McDonald's says it is is doing its part to help preserve the effectiveness of antibiotics for human and animal health in the future. "McDonald's understands that reducing the overall use of medically important antibiotics in beef is complex and cannot be accomplished overnight. Additionally, there is limited antibiotic usage data available across the global beef industry. That is why, in collaboration with our suppliers and beef producers, we are taking a strategic and phased approach: First, McDonald's is partnering with supplying beef producers in our top 10 beef sourcing markets to measure and understand current usage of antibiotics across a diverse, global supply chain; By the end of 2020, based on what we have learned, we will establish reduction targets for medically important antibiotics for these markets; and Starting in 2022 - we will be reporting progress against antibiotic reduction targets across our top 10 beef sourcing markets." McDonald's has been developing this policy over the past year and a half, while consulting a cross-section of expert stakeholders from veterinarians, to public health leaders, to the beef producers responsible for taking care of the health of animals within the supply chain every day.

06:02 EDT Bilibili acquires NetEase Comics assets - Bilibili has signed an agreement with certain affiliates of NetEase to acquire major assets from NetEase Comics, one of China's largest online comic platforms, including relevant copyrights of a large number of storylines from publishers and comic artists.

05:07 EDT DBV announces presentation of oral abstract at Skin Disease Summit - DBV Technologies announced that an oral abstract evaluating differences in the immune profile of healthy human skin across different body areas was presented by Dr. Ester Del Duca, Icahn School of Medicine at Mount Sinai, at the Inflammatory Skin Disease Summit in Vienna, Austria. DBV said, "The study results have important implications for treating immunological disorders, such as food allergies, with epicutaneous immunotherapy. For food allergies, EPIT is designed to target specific skin immune cells in order to desensitize patients to allergens. In the study presented, of the four body sites studied, the upper back region showed the highest up-regulation of Th2/Th17 pathway genes and regulatory T cells, which are important targets for preventing allergic reactions. The findings support the use of the Company's investigational Viaskin Peanut treatment for peanut allergy at the inter-scapular region of the upper back due to the local immune profile of the skin." In October 2018, DBV submitted a Biologics License Application to the FDA for Viaskin Peanut for the treatment of peanut allergy in children four to 11 years of age. Viaskin Peanut is based on epicutaneous immunotherapy, a technology platform that delivers biologically active compounds to the immune system through the skin.