Stockwinners Market Radar for December 20, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:23 EDT CoreLogic to exit certain legacy non-core software units - CoreLogic announces actions that are expected to expand overall company profit margins and provide for enhanced long-term organic growth trends. Consistent with its long-held strategy of focusing on scaled market leadership positions in critical data and workflow solutions, the Company intends to exit its loan origination software unit and its remaining legacy default management related platforms over the next 24 months. These non-core software platforms generated approximately $40M in revenue during the first nine months of 2018. Appraisal Management Company revenues estimated to be impacted from this acceleration were approximately $65M during the first nine months of 2018. The company believes the actions described above will improve the Company's long-term revenue growth rate trend and contribute to the achievement of 30% adjusted EBITDA margins in 2020. The company will assess and may incur cash and non-cash charges associated with these actions.

19:01 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: Nike (NKE) up 6.5%... Cintas (CTAS) up 5.1%. ALSO HIGHER: Smith Micro (SMSI) up 7.0% after acquiring ISM Connect... Zynga (ZNGA) up 6.1% after Q4 guidance and acquiring Small Giant Games... Arlo Tech (ARLO) up 6.1% after entering S&P SmallCap 600 index... Akorn Inc (AKRX) up 5.0% after naming new CEO... Alta Mesa (AMR) up 4.5% after management change... Aphria (APHA) up 2.7% after completing 2nd shipment to Althea... NXP Semiconductors (NXPI) up 0.9% after being initiated with Overweight at Piper Jaffray. DOWN AFTER EARNINGS: CalAmp (CAMP) down 12.1%. ALSO LOWER: Proteostasis Therapeutics (PTI) down 21.2% after clinical enrollment data for PTI-801, PTI-808, and PTI-428... Perrigo (PRGO) down 7.9% after filing appeal to EUR1.6B tax liability in Ireland.

18:42 EDT Paychex CEO: 'Not seeing uptick in business failures' - Paychex CEO Martin Mucci says that he is seeing double digit increases in worksite employees and that growth rate can be sustained for several years. Comments on CNBC's Mad Money.

18:29 EDT Del Frisco's review of strategic alternatives may include company sale - Del Frisco's Restaurant Group announced that its board has commenced a comprehensive review of strategic alternatives. The Del Frisco's Board, in consultation with its financial and legal advisors, will review and consider a full range of options focused on maximizing shareholder value, including a possible sale of the Company or any of its dining concepts. The board is proceeding expeditiously and has formed a transaction committee to assist in its evaluation of strategic alternatives. The board intends to be diligent and thorough in reviewing its options and completing its review in a timely manner but does not intend to comment until the process is concluded or it is otherwise determined that further disclosure is necessary or appropriate. There can be no assurance that the exploration of strategic alternatives will result in a transaction. Piper Jaffray & Co. is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Del Frisco's.

18:21 EDT General Electric up 1.2% afterhours on a positive CNBC Mad Money segment

18:03 EDT Lockheed Martin awarded $166.62M Navy contract modification - Lockheed Martin has been awarded a $166.62M cost-plus-incentive-fee contract modification to a previously awarded contract to exercise and fund options for Navy equipment, engineering services and required material related to acoustic rapid commercial-off-the-shelf Technical Insertion 18-20 engineering services. Work will be performed in Virginia, Florida, New York and Florida and is expected to be completed by February 2020. FY18 and FY19 research, development, test and evaluation; FY19 shipbuilding and conversion; FY19 other procurement and FY19 operations and maintenance funding in the amount of $162.31M will be obligated at time of award, and $10.58M will expire at the end of the current fiscal year. The Naval Sea Systems Command is the contracting activity.

17:54 EDT Rolls-Royce awarded $218.75M Navy contract for Adour engines - Rolls-Royce has been awarded a $218.75M firm-fixed-price undefinitized contract action to provide intermediate and depot level maintenance and related logistics support for in-service T-45 F405-RR-401 Adour engines. Work will be performed in Mississippi, Texas, Florida and Maryland, and is expected to be completed in December 2019. No funds will be obligated at the time of award. Funds will be obligated on individual orders as they are issued. This contract was not competitively procured pursuant to 10 U.S. Code 2304. The Naval Air Warfare Center Training Systems Division is the contracting activity.

17:46 EDT ACNB Corp director Donald Siebel sells 12,700 shares of company stock - ACNB Corp director Donald Siebel disclosed in a filing that he had sold 12,700 shares of company stock at an average price of $38.08 per share between December 19 and December 20. The total transaction value was $483,677. .

17:42 EDT Nike says Jordan brand returned to growth - Says it sees great opportunity for moderately priced footwear. Says has full innovation slate ahead. Says Lebron James move to the Los Angeles Lakers has created an opportunity, with people ordering three times as much Lakers gear as last year. Says Nike digital has grown faster than any other channel. Says mobile represents over 50% of commerce revenue. Says has not seen any impact from U.S.-China relations. Comments taken from Q2 earnings conference call.

17:39 EDT Aphria completes second cannabis shipment to Althea - Aphria announced that the company has completed its second shipment of approximately 80L of medical cannabis to its Australian-based partner Althea Company Pty Ltd. Under a previously announced supply agreement with Althea, Aphria is providing packaged co-branded cannabis oil and dried flower products for the Australian medical cannabis market. This is the second shipment Aphria has made to Althea as part of the Agreement, with each successive shipment expected to increase in volume. The shipment included a mix of cannabis oil and dried bud products, Rideau, Jasper, Capilano, Champlain and Henik which Althea is making available for distribution to pharmacies for eligible medical cannabis patients in Australia. Aphria completed its first shipment of medical cannabis, including approximately 60 L of cannabis oil, to Althea in April 2018. Permits for a third shipment have already been lodged due to a sharp increase in demand.

17:34 EDT Akorn appoints Douglas Boothe CEO - Akorn announced that Douglas Boothe has been named president and CEO, effective January 1, 2019. Most recently, Boothe served as the president of the generics division of Impax Laboratories.

17:30 EDT Green Plains COO Jeffrey Briggs sells 44,581 shares of company stock - Green Plains COO Jeffrey Briggs disclosed in a filing that he had sold 44,581 shares of company stock at an average price of $13.32 per share on December 18.The total transaction value of the sale was $593,953.

17:26 EDT Care.com will replace Francesca's in the S&P 600 at open on 1/3 - Francesca's Holdings is ranked at the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.

17:24 EDT Arlo Technologies to replace Cloud Peak in the S&P 600 at open on 1/3 - NETGEAR (NTGR) is spinning off its remaining ownership stake in Arlo Technologies (ARLO) in a transaction expected to be completed on December 31.

17:22 EDT Campbell Soup names Mark Clouse as new CEO and Board director - Campbell Soup announced that its board has elected Mark A. Clouse as President and CEO of Campbell effective Jan. 22, 2019. Clouse, who previously served as CEO of Pinnacle Foods, Inc., will succeed Campbell's interim President and CEO Keith McLoughlin, who will remain a Director of the company and will work closely with Clouse to ensure a seamless transition. Clouse also has been elected a Director. Clouse brings more than 20 years of experience in the food industry, holding senior management positions at leading companies with iconic center-store brands, including Mondelez International, Inc., Kraft Foods Inc. and Pinnacle Foods. Throughout his career, Clouse has consistently demonstrated an ability to enhance growth and create shareholder value through investments in a company's existing brands and through acquisitions.

17:20 EDT Raytheon awarded $567.72M Army contract modification - Raytheon was awarded a $567.72M modification to foreign military sales contract for the phased array tracking radar to Intercept on target missile system. Work will be performed in Massachusetts, New Hampshire, Rhode Island, Pennsylvania and New Hampshire with an estimated completion date of October 30, 2025. FY18 operations and maintenance Army funds in the amount of $567.72M were obligated at the time of the award. U.S. Army Contracting Command is the contracting activity.

17:10 EDT Boeing awarded $1.1B Special Operations Command contract - Boeing was awarded an indefinite-delivery/indefinite-quantity, firm-fixed-price, cost reimbursable contract with a $1.1B maximum for life cycle contractor support for the MH-6, MH-47, and MH-60 aircraft. FY19 operations and maintenance funds in the amount of $32.83M will be obligated at the time of award. The obligated amount is scheduled to be awarded January 1, 2019, when task order 0001 is scheduled to become effective, to support program management, field service representatives, sustaining engineering and spare and repair parts. This contract has a seven-year ordering period. The majority of the work will be performed in Fort Campbell, Kentucky This contract is a non-competitive award and is in accordance with Federal Acquisition Regulation. U.S. Special Operations Command is the contracting activity.

17:06 EDT Akorn names Douglas Boothe as new CEO - Akorn announced that Douglas Boothe has been named president and chief executive officer effective January 1, 2019, bringing deep pharmaceuticals expertise and a proven track record as Akorn looks forward to its next phase as an independent company committed to rebuilding shareholder value. Boothe is an industry veteran with extensive accomplishments in the specialty, generic and over-the-counter pharmaceuticals business. He brings to Akorn a long history of senior level expertise in general management, strategy, sales and marketing, product selection, supply chain and business development in the US and global arenas.

16:59 EDT Ameris Bancorp Chief Information Officer Kissel to retire - Ameris Bancorp announced the retirement, effective as of December 31, of Joseph B. Kissel, the company's Executive Vice President and Chief Information Officer.

16:52 EDT GeoPark announces 6,063,000 share repurchase program - Earlier today, GeoPark announced its board has approved a program to repurchase up to 10% of its shares outstanding or approximately 6,063,000 shares. GeoPark believes its shares to be significantly undervalued considering its oil and gas production, reserves, cash flow generation, low cost operations, balance sheet, pan Latin American asset portfolio, new project inventory, 2019 self-funded flexible work program and long-term consistent performance track-record. The repurchase program will begin on December 21, 2018 and will expire on December 31, 2019.

16:50 EDT Pyxus CEO comments on 2018 Farm Bill - Pyxus CEO, President, & Chairman of the Board Pieter Sikkel commented on the passage of the 2018 Farm Bill, among other things: "We applaud the passage of the 2018 Farm Bill, which was signed into law today by the President. The permanent removal of hemp from the Controlled Substances Act, deeming it an agricultural commodity, is a win for all - farmers, consumers and businesses. As a result of this legislation, federally-regulated institutions (...) may freely conduct business with the hemp industry. Furthermore, it gives farmers access to crop insurance and USDA programs and grants (...) We will utilize our strong heritage of agronomy expertise, paired with our track and trace technology, SENTRI, to help American farmers capitalize on this emerging market to efficiently and profitably cultivate hemp. That hemp can be processed into hemp-derived cannabidiol at our affiliate, Criticality, LLC's, state-of-the-art 55,000-square-foot extraction and purification facility in Wilson, North Carolina, expected to open in early 2019. We are also working with Criticality to help them partner with retailers to capitalize on the rapidly-growing, high-margin CBD market - with Criticality's new line of CBD products, Korent, and new and beneficial products in its innovation pipeline."

16:48 EDT Christopher & Banks rejects unsolicited takeover proposal - Christopher & Banks Corporation announced that the company's board unanimously rejected an unsolicited proposal from Carson's Holdings, a subsidiary of CSC Generation Holdings, to acquire all outstanding stock of the company for 80c per share. The board, in consultation with its outside financial and legal advisors, carefully reviewed and considered the Carson's Holdings' proposal and determined that the proposal does not reflect the full, long-term value that the company's stockholders are expected to receive from execution of the company's key strategic initiatives and, therefore, was not in the best interests of the company and its stockholders.

16:46 EDT Tesla says full $7,500 federal EV tax credit expires in under two weeks - "The full $7,500 federal tax credit for Tesla customers ends in less than two weeks, and we're doing everything we can to try to ensure those who order a vehicle today can take delivery by December 31st and take advantage of the savings. To help ensure vehicles are available, we've released all our fleet vehicles - like those used for test drives - and vehicles where the original customer can't take delivery by the end of the year. Our mission is to accelerate the world's transition to sustainable energy - and to do that, we need to get as many electric vehicles on the road as quickly as possible, which is why we are working around the clock to meet demand before the end of the year," said the company, in a website blog posting Reference Link

16:41 EDT Banco Macro announces stock buyback for up to ARS900M

16:39 EDT Amber Road responds to Altai Capital's demand to sell the company - Amber Road issued a letter to stockholders reaffirming the board's "confidence in its business potential and long-term growth strategy". The letter states, among other things: "Amber Road's Board of Directors received a letter from an activist stockholder, Altai Capital, dated December 17, 2018, wherein Altai demands that the Board begin a process to sell Amber Road, preferably to E2open, another company in which it holds an equity stake. The letter makes self-interested and short-sighted claims of poor performance, excessive executive compensation and an unwillingness by the Board to consider strategic alternatives. (..) The Board is committed to creating value for all Amber Road stockholders and regularly reviews strategic priorities and opportunities. (...) We have had and will continue to have extensive conversations with interested parties and third-party advisors to explore changes in or additions to our strategic plan. (...) Amber Road is well-positioned financially to execute in a marketplace that is challenged by the increasing complexity and velocity of change in global trade (...) Financially, Amber Road is growing very efficiently, with a high-percentage of each new dollar of revenue falling to Adjusted EBITDA and cash flow from operations. In the most recent fiscal quarter, Amber Road produced Adjusted EBITDA margins of approximately 11%, and through the first nine months of 2018, it generated $4.9M in operating cash flow. (...) We look forward to discussing our detailed plans for Amber Road over the coming months".

16:37 EDT Accenture to acquire Knowledgent, terms not disclosed - Accenture has entered into an agreement to acquire Knowledgent, a data intelligence company, expanding its data management capabilities that help companies gain deep insights into their businesses and customers, creating a strong competitive advantage. Based in New Jersey, Knowledgent employs more than 200 highly skilled "informationists" that provide data strategy and architecture, data engineering, and data management services. Accenture is driving innovation in data services with investments in machine-led solutions, highly skilled data specialists and leading platform and industry data capabilities, helping clients rotate to data-powered intelligent enterprises. Knowledgent also helps enterprises maximize the value of their data and create competitive advantage by applying innovation to better manage data, using cutting-edge data technologies and significant experience in the life sciences, healthcare and financial services industries. Terms of the transaction were not disclosed.

16:36 EDT PUCT clears TNMP general rate review settlement - TNMP, the wholly owned Texas transmission and distribution utility subsidiary of PNM Resources, received unanimous approval today by the Public Utilities Commission of Texas of its unopposed general rate review settlement. The settlement was filed with the PUCT on Nov. 2, 2018. The settlement provides a return on equity of 9.65% and a capital structure of 55% debt and 45% equity. The new rates, TNMP's first since current rates were approved in 2011, will be implemented Jan. 1, 2019 and incorporate the return of federal tax savings to customers. The settlement reflects a $10M net increase to base rates for retail and wholesale customers and a $73M increase to rate base, which is incremental to previous Transmission Cost of Service filings and Advanced Metering System investments. Consistent with TNMP's filing, the increase includes the integration of AMS recovery into base rates, including collection of the remaining unrecovered investment.

16:35 EDT Orion Engineered announces EPA surcharge in North America - Orion Engineered Carbons has introduced an Environmental Compliance Surcharge or "EPA surcharge" to its price agreements for all customers of products produced in North America for 2019. This surcharge is intended to offset the incremental variable costs associated with Orion's compliance with its 2017 consent decree with the US Environmental Protection Agency and the US Department of Justice. Orion Engineered Carbons will implement a 1.5c per pound EPA surcharge, or price adjustment, as of April 1, 2019. The surcharge will be added to all invoices for customers purchasing products produced by one of Orion's plants in North America and sold by its Rubber and Specialty Carbon Black business units.

16:34 EDT Proteostasis sees reporting complete efficacy data from PTI studies in Q1 - Proteostasis Therapeutics provided a clinical enrollment update. The company, while remaining blinded to data from the first cohort, now expects to report complete efficacy and safety data from the Phase 1, randomized, double-blind, placebo-controlled study of its proprietary combination therapy triplet and from the high-dose doublet study in subjects with CF in the first quarter of 2019. The company previously planned to report preliminary results from the triplet study by dose cohort as each dose cohort was completed, beginning with a low-dose cohort. Proteostasis' proprietary triplet is comprised of PTI-801, a third-generation cystic fibrosis transmembrane conductance regulator corrector, PTI-808, a novel CFTR potentiator, and PTI-428, a novel CFTR amplifier. As part of the endorsement by the Cystic Fibrosis Foundation, an independent Data Safety and Monitoring Board has been established to review safety data and approve progression onto higher dose cohorts. The CFF DSMB review has indicated that CF patients in the first, low-dose cohort, showed that the triple combination was generally well tolerated and dose escalation for the second cohort of the study was approved. In addition to the proprietary triplet study, Proteostasis is conducting studies exploring a proprietary doublet, and separate studies of PTI-801 and PTI-428 with background SYMDEKO therapy, in CF subjects. All four studies are on track to read out in the first quarter of 2019. "We believe a comprehensive data set from our proprietary doublet and triplet studies will provide evidence of the individual contribution of each drug candidate to the overall activity of the combinations, supporting Phase 3 dose selection rationale," said Meenu Chhabra, President and Chief Executive Officer of Proteostasis. "In addition to our proprietary combinations, we remain as excited about our add-on portfolio, with both strategies reinforcing our commitment to expanding treatment options for CF patients. Given that the anticipated timing of these study readouts across this portfolio of programs remains Q1 2019, assuming positive results, we expect to be in a position to initiate Phase 3 studies within the next 12-18 months."

16:32 EDT Norbord enters into automatic share purchase plan - Norbord reported that it has entered into an automatic share purchase plan, ASPP,with a broker in order to facilitate repurchases of Norbord's common shares under its previously announced normal course issuer bid. The Company previously announced that it had received approval from the Toronto Stock Exchangeto purchase up to 5,191,965 common shares, representing approximately 10% of the Company's public float, during the 12-month period commencing November 5, 2018 and terminating November 4, 2019. Such purchases made pursuant to the NCIB are made on the open market by Norbord through the facilities of the TSX, the New York Stock Exchange or Canadian or US alternative trading systems, if eligible, in accordance with the requirements of the TSX and applicable securities laws.

16:31 EDT BioPharmX receives notice of noncompliance from NYSE American - BioPharmX received a notice on December 17, 2018 from the NYSE American LLC that the Company is not in compliance with the stockholders' equity requirements set forth in Section 1003ai and Section 1003aii of the NYSE American Company Guide. The company reported stockholders' equity of $600,000 as of October 31, 2018 and net losses in its five most recent fiscal years ended January 31, 2018. The continued listing standards require listed companies to maintain stockholders' equity of $2M or more if they have reported losses from continuing operations and/or net losses in their three most recent fiscal years. NYSE Regulation has reviewed the company's compliance plan and has granted a plan period through September 24, 2019.

16:29 EDT Canopy Growth CEO 'commends' U.S. for passing Farm Bill - Bruce Linton, Chairman & Co-CEO, Canopy Growth Corporation, commented on the passage of the Farm Bill, containing the language of the Hemp Farming Act of 2018. Commented Linton, "Canopy Growth commends the United States government for passing the Farm Bill, a transformative piece of legislation that will create jobs and meaningful economic impact across the United States. Canopy Growth will participate in the American market now that there is a clear federally-permissible path to the market. Consistent with the spirit of the Farm Bill, Canopy Growth will participate in ways that support American farmers."

16:24 EDT Nike surges 8% after reporting better-than-expected Q2 results

16:22 EDT Paramount Group to acquire San Francisco office building - Paramount Group announced it has entered into an agreement to acquire 111 Sutter Street, a 293,000 square foot office building located in San Francisco's North Financial District, for $227M for approximately $775 per square foot. The property is currently 79.6% leased primarily to technology, media, business services and not-for-profit tenants. The transaction, which is subject to customary closing conditions, is expected to close in Q1 of 2019. In connection with the transaction, the company is considering bringing in a joint venture partner at the property.

16:22 EDT Workiva and Broadridge partnering in shareholder and regulatory comms platform - Broadridge () and Workiva (WK) announced a strategic alliance to combine Broadridge's digital delivery of regulatory and shareholder communications and distribution capabilities with the Workiva Wdesk cloud-based platform. Workiva customers will soon be able to send SEC Forms 10-K and proxy statements directly to Broadridge for design, printing and distribution for required shareholder communications. The integration will be available in 1Q19.

16:20 EDT Gladstone Investment exits investment in Cambridge Sound Management - Gladstone Investment Corporation announced the sale of its equity interest and the prepayment of its debt investment in Cambridge Sound Management, Inc. to Biamp Systems, a leader in professional audio/video solutions and a portfolio company of Highlander Partners, L.P. As a result of this transaction, Gladstone Investment realized a significant gain on its equity investment. Gladstone Investment acquired Cambridge Sound in partnership with Boston Harbor Capital in 2014. Cambridge Sound, headquartered in Waltham, MA, is the world's largest supplier of sound masking solutions. Cambridge Sound designs and manufactures next generation sound masking solutions to help companies create a more comfortable, secure, and productive workplace.

16:19 EDT Nike reports Q2 North America revenue $3.78B, up 9% - Reports Q2 EMEA revenue $2.3B up 8%. Reports Q2 Greater China revenue $1.5B, up 26%. Reports Q2 APAC revenue $1.3B, up 2%.

16:17 EDT Lamb Weston increases dividend 5% - The board of Lamb Weston declared a quarterly dividend of 20c per share of Lamb Weston common stock, an approximately 5% increase from 19.125c per share in the prior quarter. The dividend is payable on March 1, 2019 to stockholders of record at the close of business on February 1, 2019. In addition, the company stated that it will continue to target an annual dividend payout ratio of 25%-35% of adjusted diluted EPS.

16:16 EDT Nike reports Q2 gross margin 43.8%%, up 80 basis points - Gross margin increased 80 basis points to 43.8 percent primarily driven by higher average selling prices and margin expansion in NIKE Direct, partially offset by higher product costs. Selling and administrative expense increased 14 percent to $3.1 billion. Demand creation expense was $910 million, up 4 percent primarily driven by higher advertising and marketing expenses. Operating overhead expense increased 18 percent to $2.2 billion driven primarily by wage-related expenses, which reflect critical investments to drive key transformational initiatives for the Consumer Direct Offense.

16:13 EDT CalAmp falls over 11% after Q3 earnings, Q4 guidance

16:11 EDT Intevac awarded $28.6M contract to supply camera modules for IVAS program - Intevac has received a $28.6M contract award for the development and production of digital night vision cameras to support the U.S. Army's IVAS - Integrated Visual Augmentation System - program. This contract, issued from SOSSEC on behalf of the Night Vision and Electronic Sensor Directorate, includes the development and delivery of 2,300 camera modules over the next two years.

16:11 EDT ChromaDex enters $4M license, supply agreement with NHSc for Tru Niagen - ChromaDex announced it entered into a license and supply agreement with Nestle Health Science, or NHSc. The agreement provides NHSc the exclusive right to include CDXC's patented nicotinamide riboside ingredient Tru Niagen in NHSc branded medical nutrition, and co-exclusive rights to include Tru Niagen in certain products within the consumer health category. The territories in the agreement include North America, Europe, Latin America, Australia, Japan, and New Zealand. ChromaDex's ingredient Niagen is sold directly to consumers as Tru Niagen, which is backed by clinical and scientific research establishing its safety and efficacy at elevating the coenzyme nicotinamide adenine dinucleotide in humans. NAD is an important metabolite involved in virtually every metabolic process in the body, most notably energy metabolism and cell repair. Under the terms of the agreement, NHSc will make an upfront payment of $4M. CDXC will receive certain commercial milestone payments related to the sale of Tru Niagen to NHSc as well as tiered royalties.

16:10 EDT First Financial Northwest Bank appoints Randy Riffle as Chief Credit Officer - First Financial Northwest announced that Randy Riffle has been appointed Executive Vice President and Chief Credit Officer of the Bank effective December 31. "I am extremely pleased that Randy is joining First Financial Northwest Bank to oversee the Bank's credit policies, procedures and processes, as well as lead our efforts to expand our C&I portfolio in support of the Bank's growth and loan portfolio diversification goals, including expanding our customer base," said Joseph W. Kiley III, President and Chief Executive Officer of the Company and the Bank. "A banking professional of Randy's experience and qualifications is an important addition to our leadership team as we continue to execute on our growth strategies, including growing our branch footprint and expanding our product lines as we head into 2019," Kiley concluded.

16:08 EDT Avon Products names Vikram Agarwal as new Chief Supply Chain Officer - Avon Products announced that Vikram Agarwal has been named Senior Vice President & Chief Supply Chain Officer, effective 1 February 2019, reporting to Jan Zijderveld, Chief Executive Officer and sitting on the Executive Committee. He succeeds Michael Watson, who has decided to step down to pursue other professional opportunities. The company also announced that Susan Ormiston, SVP Human Resources will be leaving in January, 2019 for a new opportunity outside Avon. Vikram joins Avon following a 30-year career in operations and supply chain at Unilever. Most recently, Vikram served as EVP, Supply Chain Africa, where he was responsible for a multi-billion dollar regional business, including end-to-end supply chain across 15 countries, 14 factories and 25,000 employees, significantly increasing orders serviced, while leading a program to double the number of customer outlets served, including deploying digital solutions.

16:07 EDT Zynga to acquire Small Giant Games - Zynga announced it has entered into an agreement to acquire Helsinki-based mobile game studio, Small Giant Games, creator of the hit franchise Empires & Puzzles. Small Giant adds an experienced team and another innovative Forever Franchise to Zynga's live service portfolio while also expanding its new game pipeline. Small Giant is expected to be accretive to Zynga's profitability and be a meaningful growth driver in 2019 and beyond. Zynga will acquire 80% of Small Giant for $560M, comprised of approximately $330M in cash and $230M of unregistered Zynga common stock. The final upfront transaction consideration will also include customary closing adjustments and will be partially funded by a newly established $200 million revolving credit facility. The transaction is expected to close effective as of January 1, 2019 and Zynga will purchase the remaining 20% of Small Giant over the next three years at valuations based on specified profitability goals.

16:05 EDT Apellis APL-2 gets orphan drug designation from FDA for C3 treatment - Apellis Pharmaceuticals announced that its C3 complement inhibitor, APL-2, has been granted orphan drug designation by the FDA for the treatment of C3 glomerulopathy. C3 glomerulopathy refers to a group of rare renal disorders in which hyperactivity of the complement system leads to deposition of C3 in the glomeruli, the portion of the kidney responsible for blood filtration. C3G is a disease with a high unmet need, as approximately half of all patients with C3G progress to end-stage renal disease within 10 years of diagnosis, and there is no approved therapy proven to prevent progression. By targeting C3, the point of convergence of all three complement pathways , Apellis believes APL-2 has the potential to eliminate the excessive and inappropriate C3 activation that is central to C3G, thereby avoiding glomerular C3 deposition and progression of renal disease. Apellis is currently conducting a Phase 2 trial of APL-2 in four types of glomerular diseases in which complement has been implicated: C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy and lupus nephritis. "This orphan drug designation represents an important recognition by the FDA of APL-2's potential to treat C3G, a rare disease that can lead to renal failure, and for which there are no approved treatments currently for patients," said Cedric Francois, CEO and co-founder of Apellis. "This is an important milestone as we build out our pipeline using the systemic administration of APL-2 in rare, complement-mediated diseases, and we look forward to seeing the outcomes of our Phase 2 study."

16:04 EDT D.E. Shaw reports 5% passive stake in Hertz - In a regulatory filing, D.E. Shaw disclosed a 5% stake in Hertz, which represents over 4.2M shares. The filing does not allow for activism.

16:02 EDT Bank of Commerce Holdings gets regulatory approval for Merchants Holding deal - Bank of Commerce Holdings , previously announced that it had entered into a definitive merger agreement (pursuant to which BOCH will acquire Merchants Holding Company, the holding company for The Merchants National Bank of Sacramento, subject to the terms and conditions set forth in the Merger Agreement. Merchants' shareholders approved the Merger Agreement today, and BOCH has received all regulatory approvals required to complete the proposed transaction, including the written approval of the Federal Deposit Insurance Corporation and the California Department of Business Oversight and written confirmation from the Board of Governors of the Federal Reserve System that no application was required to be filed with that agency. The transaction is expected to close on or about January 31, subject to customary closing conditions.

15:57 EDT Link Motion trading resumes

15:57 EDT Enbridge Energy trading resumes

15:47 EDT Canadian National reaches tentative agreement with USW - CN and United Steelworkers , or USW, announced that a new tentative collective agreement has been reached between USW Local 2004 and CN. USW represents approximately 3,000 track and bridge personnel who work at CN across Canada. No details of the tentative agreement will be released publicly until the agreement is ratified. The collective agreement expires at the end of the month.

15:00 EDT Ellomay Capital trading resumes

14:45 EDT FDA head threatens 'more significant action' if e-cigarette rates don't slow - FDA Comissioner Scott Gottlieb said via Twitter, "If youth rates of e-cigarette use don't start leveling off, and show evidence of declines, #FDA will have to propose and pursue even more significant action, and I would personally anticipate action from Congress. We all need to get behind steps to reverse these trends right now...We've already taken numerous actions under our Youth Tobacco Prevention Plan. We'll continue to hold manufacturers and retailers accountable in 2019 with additional actions to ensure e-cig products aren't marketed to, sold to, or used by kids." The comments come after Altria Group (MO) took a 35% stake in vaping company Juul Labs.

14:17 EDT GenMark receives FDA clearance for ePlex BCID-GP Panel - GenMark Diagnostics announced that it has received FDA 510(k) market clearance from the FDA for its ePlex Blood Culture Identification Gram-Positive, or BCID-GP, Panel. This panel, together with the ePlex Blood Culture Identification Gram-Negative and Fungal Pathogen Panels, were developed for the diagnosis and disease management of bloodstream infections that can lead to sepsis. GenMark's BCID-GN and BCID-FP Panels were submitted to the FDA in September and are still currently under review.

14:03 EDT Lockheed Martin says meets 2018 F-35 production target with 91 deliveries - Lockheed Martin delivered the 91st F-35 aircraft for the year, meeting the joint government and industry delivery target for 2018. The 91 deliveries in 2018 represent nearly a 40% increase from 2017 and about a 100% production increase compared to 2016. Next year, Lockheed Martin is set to deliver more than 130 F-35s representing yet another 40% increase in production.

13:27 EDT Apple names Giannandrea to executive team, will oversee AI strategy - Apple announced that John Giannandrea has been named to the company's executive team as senior vice president of Machine Learning and Artificial Intelligence Strategy. He joined Apple in April 2018. Giannandrea oversees the strategy for AI and Machine Learning across all Apple products and services, as well as the development of Core ML and Siri technologies.

12:57 EDT Shares of cruise line operator Carnival sink after Q4 report, peers also fall - Shares of cruise line operator Carnival (CCL) are falling on Thursday after the company reported what was basically an in-line quarter. Q4 RESULTS: Carnival reported fourth quarter adjusted earnings per share of 70c against a consensus of 70c, and reported Q4 revenue of $4.46B against a consensus of $4.44B. Carnival CEO Arnold Donald said, "We delivered strong fourth quarter earnings and record adjusted fourth quarter earnings to top off a record breaking year... We achieved double-digit return on invested capital in line with the target we established five years ago." GUIDANCE NOT IMPRESSIVE: EPS guidance for Q1 and for FY19 both missed consensus estimates at the midpoint. Moreover, Carnival said it is expecting 2019 net revenue yield to be higher by just one point in 2019, which, according to a Bloomberg report, is significantly lower than analyst projections of 2.4%. PRICE ACTION: Shares of Carnival are down over 10% to $49.44 in afternoon trading, while peers Norwegian Cruise Line (NCLH) and Royal Caribbean (RCL) are down 5.9% and 5%, respectively.

12:26 EDT Biogen Canada 'applauds' Quebec decision to cover SPINRAZA - Biogen Canada said it "applauds" the Government of Quebec's decision to cover SPINRAZA for a broad population of patients with Spinal Muscular Atrophy in the province. The announcement was made by the Minister of Health, Madame Danielle McCann on December 18, 2018, following a positive recommendation from the Institut national d'excellence en sante et services sociaux to expand coverage to include pre-symptomatic and symptomatic patients with 5q SMA Type 1, 2 and 3 of all ages. "Today is a day of celebration for patients with SMA in Quebec, the first province in Canada to announce broad access to the life-changing treatment of SPINRAZA. We now look to the rest of Canada to follow suit and ensure that all Canadians living with this rare, debilitating disease are granted the same access to treatment," said Marina Vasiliou, Vice President and General Manager of Biogen Canada.

12:14 EDT Qualcomm says German court granted permanent injection against Apple - Qualcomm (QCOM) announced that the District Court of Munich found that Apple (AAPL) is infringing Qualcomm's intellectual property for power savings in smartphones and granted Qualcomm's request for a permanent injunction, ordering Apple to cease the sale, offer for sale and importation for sale in Germany of infringing iPhones. The injunction covers all models of iPhones that contain the infringing functionalities and apply to Apple's European Union entities as well as Apple Incorporated, says Qualcomm. "The judgment is immediately enforceable once Qualcomm posts bonds covering potential damages incurred by Apple should the judgment be overturned or amended on appeal. Apple's request to the court for a stay of the injunction was denied. The court has also determined that Apple is liable for monetary damages in an amount to be determined at a later time," it added. "Two respected courts in two different jurisdictions just in the past two weeks have now confirmed the value of Qualcomm's patents and declared Apple an infringer, ordering a ban on iPhones in the important markets of Germany and China," said Don Rosenberg, executive vice president and general counsel of Qualcomm. The court also granted Qualcomm's request for an accounting of the details associated with all sales, including revenues and profits of the accused devices in Germany and a recall and destruction of all accused devices from all retailers in Germany. The injunction is effective as soon as Qualcomm posts the required bonds which it says will be completed within a few days.

12:04 EDT Celgene multiple myeloma treatment granted FDA orphan designation - Celgene's multiple myeloma treatment was granted FDA orphan designation, according to a post to the agency's website. Reference Link

12:00 EDT Medley Management falls -17.9% - Medley Management is down -17.9%, or -71c to $3.26.

12:00 EDT REV Group falls -20.9% - REV Group is down -20.9%, or -$1.89 to $7.12.

12:00 EDT Fortuna Silver Mines rises 9.2% - Fortuna Silver Mines is up 9.2%, or 30c to $3.56.

11:47 EDT Cigna announces completion of combination with Express Scripts - Cigna (CI) announced that it has successfully completed its combination with Express Scripts (ESRX), effective December 20, 2018. "Consistent with its commitment to support local communities and improve societal health, Cigna also announced an incremental investment of $200M to its charitable foundation and communities and is launching Healthier Kids for Our Future, a community engagement program focused on addressing the well-being of children globally," the company noted. Cigna expects the combination to deliver sustained attractive return for shareholders. As previously communicated, Cigna expects to deliver 2021 adjusted income from operations per share in the range of $20-21. Shares of Cigna and Express Scripts ceased trading on the New York Stock Exchange and NASDAQ, respectively, on December 20, 2018. Beginning tomorrow morning, shares of the new combined Cigna will start trading on the NYSE under the stock ticker symbol "CI." Cigna will provide full year 2019 guidance for the combined company on our fourth quarter earnings call on Friday, February 1, 2019, the company added.

11:43 EDT Cubic, ViaSat to admit new startups in collaboration with EvoNexus - EvoNexus,a startup incubator with locations in San Diego and Irvine, has launched an application round in partnership with Viasat (VSAT) and Cubic (CUB). Cubic and Viasat have joined EvoNexus in search of early stage companies for potential partnerships and admission into the corporate supported EvoNexus technology incubator. Startups that apply within the technical areas shown below will be considered for admission into EvoNexus and for partnership with Viasat or Cubic to include corporate R&D connections, early business unit exposure, technology steering, potential Beta customer trials, NRE and early stage funding.

11:37 EDT Twitter working to identify fake accounts ahead of Bangladesh election - The Twitter Safety team said: "Working with our industry peers we identified & suspended a very small number of accounts originating from Bangladesh for engaging in coordinated platform manipulation. Based on our initial analysis, it appears that some of these accounts may have ties to state-sponsored actors." Reference Link

11:10 EDT Pinnacle West trading halted, news pending

11:01 EDT Novartis announces offer to acquire CellforCure - Novartis announced an offer to acquire CellforCure from LFB. CellforCure, a French company, is one of the first and largest contract development and manufacturing organizations producing cell and gene therapies in Europe, Novartis stated. Under the proposed agreement, Novartis would acquire the share capital of CellforCure from LFB including the cell and gene manufacturing facility located in Les Ulis and the related adjacent land. If the offer is accepted, CellforCure would become a wholly owned Novartis manufacturing site, joining the network of cell and gene therapy sites including Morris Plains, New Jersey, USA and Stein, Switzerland, where construction continues to progress as planned. In July 2018, Novartis announced that it had signed an agreement with CellforCure to produce CAR-T cell therapies including Kymriah. The transaction is subject to usual and customary closing conditions, including employee consultation process and necessary regulatory approvals. If approved, the transaction is expected to be funded through available cash and close in the first half of 2019.

10:33 EDT Arbor Realty names Howard Leiner as EVP, Chief Technology Officer - Arbor Realty Trust (ABR) announced the appointment of Howard Leiner as Executive Vice President, Chief Technology Officer. Leiner will be responsible for overseeing all of the strategic, operational and technical management of Arbor's enterprise-wide technology infrastructure. In his most recent position with Goldman Sachs (GS), he served as Managing Director, Global Head of Private Bank Technology.

10:00 EDT Greif falls -12.8% - Greif is down -12.8%, or -$5.39 to $36.68.

10:00 EDT Global Geoscience falls -18.6% - Global Geoscience is down -18.6%, or -$4.11 to $18.00.

10:00 EDT BlackBerry rises 6.9% - BlackBerry is up 6.9%, or 51c to $7.86.

09:58 EDT Twitter sinks after Citron calls 'uninvestable,' puts $20 target on shares - Shares of Twitter (TWTR) are moving lower after Citron Research put a $20 price target on the shares. The stock in morning trading is down 6%, or $1.94, to $30.98. "Amnesty International has concluded that Twitter is an abuser of human rights and has become a place that is 'toxic' for women, noting that women are abused every 30 seconds on Twitter. The study focused on 800 female journalists and politicians to show the culture of hate that underpins Twitter," Citron writes in a research report posted on its website. Twitter has "become uninvestable and advertisers will soon be forced to take a hard look at all sponsorships with Twitter," says the short-selling research firm. Citron adds, "The culture of hate and anonymity should have Twitter trade at a discount to its closest peer, not a 100% premium. The hate on Twitter is real and the company is not taking proper steps to curb the problem." Reference Link

09:51 EDT Conagra Brands: Strategic logic for Pinnacle transaction remains compelling - Says Pinnacle issues "largely self-inflicted," has right capabilities to address challenges.

09:48 EDT Conagra Brands: Pinnacle's current challenges 'can and will be fixed' - Says Pinnacle integration progressing "seamlessly," says has plans in place to address business challenges. Sees "years" of runway in frozen. Says near-term issues do exist in Pinnacle business, but says they are "fixable." Says can exceed initial synergy target for Pinnacle. Comments taken from the Q2 earnings conference call. In early trading, shares of ConAgra are down 9% to $26.47.

09:40 EDT Bombardier selects Accenture to streamline procurement processes - Accenture (ACN) has been chosen by Bombardier (BDRBF) to help it further streamline procurement processes and reduce costs associated with the purchase of a wide range of indirect goods and services around the world. The objective of the initiative is to generate millions of dollars in sustainable savings over the next five years. Accenture will use its source-to-pay and operations-as-a-service capabilities to help Bombardier implement more intelligent and efficient purchasing of indirect goods and services - those supporting the company's internal operations, as opposed to goods and services used in the manufacturing and production of its products. Accenture's end-to-end, globally integrated capabilities will help Bombardier enhance its automation opportunities, increase operating efficiencies, mitigate risks, reduce duplicative processing and improve corporate compliance.

09:39 EDT B.O.S. Better Online's supply chain division receives $540,000 in orders - B.O.S. Better Online Solutions announced that its Supply Chain Division has received $540,000 in orders from a new customer, an electronics manufacturer, in Latvia. The orders, for electronic components, are expected to be delivered during 2019-2020.

09:35 EDT Endocyte stockholders approve merger agreement with Novartis - Endocyte (ECYT) announced that Endocyte's stockholders approved the adoption of the merger agreement pursuant to which Novartis (NVS) will acquire Endocyte for $24 per share, or a total equity value of approximately $2.1B, in cash. Approximately 99.8% of the votes cast at the meeting voted to approve the adoption of the merger agreement, representing approximately 69.5% of Endocyte's outstanding common stock as of the record date. Subject to the satisfaction of customary closing conditions, the proposed merger is expected to close on or about December 21.

09:34 EDT Boot Barn acquires naming rights to Colorado Springs music venue - Bourbon Brothers Presents is proud to announce Boot Barn has acquired the naming rights to the venue, via an agreement with the building entity. Boot Barn Holdings is America's largest western and work wear retailer with more than 230 stores across 31 states. The venue, located adjacent to Bass Pro Shops in Northern Colorado Springs, will play host to country music's hottest artists as well as Nashville's top songwriters and legends of country music and Southern rock.

09:31 EDT COUNTRY Financial selects CyrusOne to modernize IT data center infrastructure - CyrusOne announced it has been selected to provide colocation, interconnection, and infrastructure services by insurance and financial services leader COUNTRY Financial, a Fortune 1000 group of insurance and financial services companies based in Bloomington, IL.

09:31 EDT Altria Group says Juul deal has restrictions to block competitor stakes

09:28 EDT Overstock.com subsidiary signs MOU with Wyoming county for blockchain platform - Overstock.com announced Medici Land Governance, its blockchain subsidiary focused on land administration, has signed a memorandum of understanding, or MOU, with Teton County, Wyoming to develop a blockchain-based land records and information platform in 2019. Medici Land Governance and Teton County will work together to develop and implement the software needed for the county, which includes the town of Jackson, to transfer and display information from its current land and property titling system to the new blockchain-based system.

09:23 EDT Immunomedics drops 22% in pre-market trading - The pre-market weakness in shares of Immunomedics is being attributed to a cautious note published by Favus Research, according to contacts.

09:21 EDT Avangrid joint venture wins lease in Massachusetts - Avangrid subsidiary Avangrid Renewables has won an auction for a competitive lease sale in federal waters administered by the U.S. Department of Interior's Bureau of Ocean Energy Management. Vineyard Wind of New Bedford, Massachusetts, which is a joint venture between Avangrid Renewables and Copenhagen Infrastructure Partners, won one of three lease sales and secured development rights to offshore lease OCS-A 0522, a 132,370-acre area. Vineyard Wind's provisional winning bid for its lease area was $135.1M. Final execution of the lease is subject to various conditions, including BOEM review, obtaining certain regulatory approvals, and satisfactory negotiation of the lease agreement. Vineyard Wind's lease area is anticipated to support approximately 2 gigawatts of commercial wind generation, enough electricity to power roughly one million Massachusetts homes.

09:19 EDT Carnival says advance bookings for FY19 'considerably ahead' of last year - Carnival said: "At this time, cumulative advance bookings for full year 2019 are considerably ahead of the prior year at prices that are in line with the prior year. Pricing on bookings taken since September has been running in line on a comparable basis to the prior year while booking volumes are significantly higher compared to the prior year. As a result, even with higher capacity, there is less inventory remaining for sale than at the same time last year. Based on continued strength in underlying fundamentals, we are poised to deliver another year of strong revenue and earnings growth, with booking volumes running significantly ahead of our higher capacity growth and net revenue yields expected to exceed last year's record levels (constant currency). We remain committed to driving demand in excess of measured capacity growth to continue the momentum into 2019 and beyond."

09:18 EDT AGC Networks increases offer price to $1.10 per share for Black Box acquisition - A wholly owned subsidiary of global solutions integrator AGC Networks in Singapore and Black Box announced that AGC Networks' indirect wholly owned subsidiary, Host Merger Sub, has increased its offer price with respect to its tender offer to purchase all of the issued and outstanding shares of common stock, par value $0.001 per share, of Black Box from $1.08 to $1.10 per share, net to the holder thereof in cash, without interest and subject to any applicable tax withholding. The increased offer price represents a premium of approximately 3.77% over the closing price of Black Box's shares on November 20, the last full trading day prior to the commencement of the offer. The expiration date of the offer will be extended to January 4, 2019, and withdrawal rights will be available until the expiration date. The increase in the offer price is being made pursuant to an amendment, entered into on December 20, to the previously announced merger agreement, dated November 11, between Black Box, purchaser and certain of purchaser's affiliates. Additionally, as a result of the increase in the offer price, the offer period has been extended. Overall, 7,137,166 shares had been validly tendered and not withdrawn pursuant to the offer, representing approximately 46.84% of the outstanding shares.

09:16 EDT Synchrony selected by Qurate Retail Group for HSN credit card program - Synchrony announced a new, long-term agreement to deepen its strategic consumer financing and credit relationship with Qurate Retail Group. Qurate Retail Group's HSN, a $2.3B interactive multi-channel retailer, has selected Synchrony as its strategic provider of private label credit card services beginning in August 2019. HSN will replace its current financing provider with Synchrony solutions. Synchrony also announced a multi-year extension of its current agreements with two other Qurate Retail Group brands - QVC, a global multiplatform retailer, and e-commerce company zulily.

09:13 EDT Autodesk to acquire BuildingConnected for $275M net of cash acquired - Autodesk has signed a definitive agreement to acquire BuildingConnected for $275M net of cash acquired. This acquisition will add bid management, risk analysis and other preconstruction solutions to Autodesk's construction portfolio. In addition, BuildingConnected's network presents an opportunity to create a robust digital marketplace for construction goods and services. BuildingConnected has built a network of more than 700,000 construction professionals, helping real estate owners and general contractors find and hire qualified contractors for their projects. It is the largest and most active digital network of construction professionals.

09:12 EDT IBM, Samsung expand partnership to include 7nm chip manufacturing - IBM (IBM) announced an agreement with Samsung (SSNLF) to manufacture 7-nanometer microprocessors for IBM Power Systems, IBM Z and LinuxONE, high-performance computing systems, and cloud offerings. The agreement combines Samsung's industry-leading semiconductor manufacturing with IBM's high-performance CPU designs. This combination is being designed to drive unmatched systems performance, including acceleration, memory and I/O bandwidth, encryption and compression speed, as well as system scaling. It positions IBM and Samsung as strategic partners leading the new era of high-performance computing specifically designed for AI.

09:11 EDT Boston Private names Paul Simons Chief of Corporate Strategy and Development - Boston Private announced the appointment of Paul Simons as Executive Vice President and Chief of Corporate Strategy and Development. Simons will be responsible for developing and executing strategic plans for growth at the company. This is a newly created role reporting directly to CEO Anthony DeChellis.

09:10 EDT Veoneer CFO Mathias Hermansson to depart company - Veoneer announced that Mathias Hermansson, CFO has decided to leave the company to seek new opportunities. Mathias joined Veoneer in January 2018 and has played a critical role in the preparation of the set up and early phase of the new Company. In order to ensure a smooth transition, the plan is for Mathias to continue in his current role until his replacement is appointed.

09:10 EDT WWE and J Sports extend partnership in Japan - WWE and J Sports will extend their partnership into its 22nd year with a new agreement to broadcast WWE's flagship shows Raw and SmackDown live in Japan. Fans can also order all of WWE's monthly specials on J Sports On Demand with Japanese subtitles.

09:09 EDT MGM Resorts, MGM Growth announce transaction on Park MGM, NoMad Las Vegas - MGM Resorts International (MGM) and MGM Growth Properties (MGP) announced that they have entered into an agreement whereby MGP will pay MGM Resorts consideration of $637.5M for investments made to reposition Park MGM and NoMad Las Vegas, which was formerly known as Monte Carlo Resort and Casino. As part of this agreement, the annual rent under the existing Master Lease between MGM Resorts and MGP will increase by $50M.Rockefeller Capital Management is acting as financial advisor to the conflicts committee of the MGP Board of Directors. Consistent with the Master Lease terms, 90 percent of the increased rent will be contractually fixed to grow at two percent per year until 2022, and thereafter will continue to grow provided a tenant revenue to rent ratio is met. The remaining 10 percent is payable in percentage rent. The transaction is expected to close in the first quarter of 2019 and is subject to customary closing conditions.

09:07 EDT Harris awarded $218M U.S. Army contract for satellite communications - Harris has been awarded a nearly $218M follow-on contract by the U.S. Army to support wideband satellite operations centers and management sites that deliver critical communications to warfighters around the world.

09:06 EDT Alleghany Capital announces investment in CEI Equipment Company - Alleghany Capital Corporation announced that its subsidiary, R.C. Tway Company has reached a definitive agreement to acquire a majority interest in CEI Equipment Company. Headquartered in Cedar Rapids, Iowa, CEI is a global industry leader in the production and service of a broad range of aluminum feed transportation equipment. CEI is led by management members, Dan McDowell, Jim Ross, and Jim Stoelk. The transaction, which is subject to customary closing conditions, is expected to close by year-end 2018

09:04 EDT Applied DNA Sciences trading halted, news pending

09:02 EDT Astellas Pharma, Pfizer announce Phase 3 ARCHES trial meets primary endpoint - Astellas Pharma (ALPMY) and Pfizer (PFE) announced that the Phase 3 ARCHES trial evaluating XTANDI plus androgen deprivation therapy (ADT) in men with metastatic hormone-sensitive prostate cancer met its primary endpoint, significantly improving radiographic progression-free survival versus ADT alone. The preliminary safety analysis of the ARCHES trial appears consistent with the safety profile of XTANDI in previous clinical trials in castration-resistant prostate cancer. Detailed results will be submitted for presentation at an upcoming medical congress. XTANDI is currently approved in the U.S. and Japan for the treatment of CRPC and in the EU for the treatment of metastatic and high-risk non-metastatic CRPC. Since its initial approval in 2012, XTANDI has been prescribed to more than 330,000 men worldwide.

08:56 EDT Chesapeake Utilities names Jeffry Householder president, CEO - Chesapeake Utilities Corporation announced that its Board of Directors has appointed Jeffry Householder, currently president of the company's Florida business unit, president and CEO, effective January 1, 2019. Concurrent with this promotion, the company announced Householder's appointment to the Board of Directors, also effective January 1, 2019. Householder succeeds Chesapeake's current president and CEO, Michael McMasters, who will continue as a member of the Board of Directors. McMasters announced his retirement in September.

08:51 EDT AbbVie submits NDA to FDA, MAA to EMA for upadacitinib - AbbVie announced that it has submitted a New Drug Application to the U.S. Food and Drug Administration and a marketing authorization application to the European Medicines Agency for upadacitinib, an oral investigational JAK1-selective inhibitor, for the treatment of adult patients with moderate to severe rheumatoid arthritis. The NDA and MAA are supported by data from the global upadacitinib SELECT Phase 3 rheumatoid arthritis program evaluating more than 4,000 patients with moderate to severe rheumatoid arthritis across five Phase 3 studies. In all studies, upadacitinib met all primary and ranked secondary endpoints. The most frequent serious adverse events were infections. Top-line results from these clinical studies were previously announced. Upadacitinib is not approved and its safety and efficacy have not been evaluated by regulatory authorities.

08:49 EDT Civista Bancshares announces share repurchase program up to 470,000 shares - Civista Bancshares announced that the Board of Directors has approved a stock repurchase program for Civista. The program authorizes the repurchase by Civista of up to 470,000 of its total outstanding shares of common stock and will continue until December 18, 2019. Under the share repurchase program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with federal securities laws. The Board's action authorizes Civista to execute one or more 10b5-1 trading plans. The trading plans would allow Civista to repurchase shares of its common stock at times when it otherwise might be prevented from doing so under insider trading laws by requiring that an agent selected by Civista repurchase shares of common stock on Civista's behalf.

08:38 EDT Mustang Bio receives orphan designation from FDA for MB-102 - Mustang Bio announced that the FDA has granted orphan drug designation to MB-102 for the treatment of blastic plasmacytoid dendritic cell neoplasm, a rare and incurable blood cancer with a median survival of less than 18 months and no standard of care.

08:34 EDT Xeris granted ODD for investigational ready-to-use liquid glucagon by EMA - Xeris Pharmaceuticals announced that it has received Orphan Medicinal Product designation from the European Medicines Agency for its investigational ready-to-use liquid glucagon as a treatment for non-insulinoma pancreatogenous hypoglycaemia syndrome, a spectrum of metabolic conditions, which includes post-bariatric hypoglycemia. A similar orphan designation was granted by the FDA in January 2018. The EU orphan designation is associated with a 10-year commercial exclusivity for this indication.

08:32 EDT Enbridge completes mergers with Enbridge Energy Management, Enbridge Energy - Enbridge (ENB), on behalf of itself and certain of its wholly owned U.S. subsidiaries, Enbridge Energy Partners (EEP) and Enbridge Energy Management (EEQ), announced that they have completed the previously announced respective merger of EEP with a wholly owned subsidiary of Enbridge, and the merger of EEQ with a wholly owned subsidiary of Enbridge, each pursuant to an Agreement and Plan of Merger dated as of September 17, 2018. The EEP Merger resulted in Enbridge acquiring all of the outstanding public Class A common units of EEP, and EEP becoming an indirect, wholly owned subsidiary of Enbridge, and the EEQ Merger resulted in Enbridge acquiring all of the outstanding public Listed Shares of EEQ, and EEQ becoming a direct, wholly owned subsidiary of Enbridge. The EEP Merger and EEQ Merger were approved by EEP unitholders and EEQ shareholders, respectively, at special meetings held on December 17, 2018. Effective today, EEP unitholders of record as of the close of business on November 5, 2018 are entitled to receive from Enbridge pursuant to the EEP Merger Agreement, for each EEP Class A common unit held, 0.3350 common shares of Enbridge, and EEQ shareholders of record as of the close of business on November 5, 2018 are entitled to receive from Enbridge pursuant to the EEQ Merger Agreement, for each EEQ Listed Share held, 0.3350 common shares of Enbridge. Also effective today, the EEP Class A common units and the EEQ Listed Shares will be suspended from trading on, and delisted from, the New York Stock Exchange. Common shares of Enbridge will continue to trade on both the NYSE and the Toronto Stock Exchange under the symbol "ENB".

08:29 EDT Enbridge Energy trading halted, news dissemination

08:26 EDT Hersha Hospitality announces $50M share repurchase program - Hersha Hospitality announced that its board of trustees authorized a new share repurchase program of up to $50M of the company's outstanding common shares. This new program will commence on January 1, 2019 and will expire on December 31, 2019, unless extended by the board.

08:18 EDT Aldeyra announces last patient dosed in ALLEVIATE Phase 3 clinical trial - Aldeyra Therapeutics announced that the last patient has completed dosing in the ALLEVIATE Phase 3 clinical trial of topical ocular reproxalap in patients with allergic conjunctivitis. The ALLEVIATE trial is a multi-center, double-masked, parallel-group, vehicle-controlled Phase 3 clinical trial that enrolled over 300 allergic conjunctivitis patients, randomized equally to receive either topical ocular 0.25% reproxalap, 0.5% reproxalap, or vehicle in a conjunctival allergen challenge model of acute allergic conjunctivitis. The primary outcome measure will be patient-reported ocular itching. Results from the Phase 3 clinical trial are expected to be announced in early 2019.

08:17 EDT Digital Ally successfully defends '292 Patent from Axon - Digital Ally (DGLY) announced a victory in its legal battles against Axon (AAXN). After losing its validity challenge at the U.S. Patent Office for Digital Ally's Patent No. 8,781,292, or the '292 Patent, Axon has decided to abandon its appeal and discontinue all remaining attacks against the '292 Patent. Axon began challenging the validity of Digital Ally's auto-activation patents at the patent office through four separate IPR challenges over two years ago. After agreeing to take a closer look at the fourth petition and after a full proceeding and oral argument on the matter, the Patent Office found all challenged claims of the '292 Patent to be valid. Axon appealed this finding to the United States Court of Appeals for the Federal Circuit. Axon is now barred from filing any further IPRs against the '292 Patent, as well as the '452 Patent. Enforcement Video had previously agreed to be bound by Axon's IPR attempt to invalidate the '292 Patent. The dismissal also means that WatchGuard's ability to challenge the validity of the '292 Patent is now limited. Like Axon, WatchGuard is now barred from filing any further IPRs challenging any of the patents asserted against it.

08:15 EDT BGC Partners expects to pay Q4 dividend of approx. 14c per share - Given BGC's expectation of earnings growth and historical dividend policy of paying out at least 75 percent of post-tax Adjusted Earnings per share, post-spin BGC expects to pay a dividend of approximately 14c per share for the fourth quarter of 2018, subject to approval from the Board of Directors. The company expects to maintain its post-spin quarterly dividend of 14c per share in 2019. This 14C, combined with Newmark's quarterly dividend of 9c multiplied by the 0.463895 distribution ratio,3 would have been approximately equal to the quarterly dividend of 18c per share paid by BGC for each quarter of 2017 and 2018. Therefore, the aggregate dividend received by an investor continuing to own BGC and Newmark shares post-spin would be approximately equal to the annualized dividend of 72C per share paid by BGC for 2017 and 2018.

08:13 EDT Conagra Brands down 4.7% in pre-market trade after Q2 results, FY19 outlook

08:11 EDT Retrophin completes patient enrollment for Phase 3 FORT study - Retrophin announced completion of patient enrollment in the pivotal Phase 3 FORT Study, which is evaluating the safety and efficacy of fosmetpantotenate for the treatment of pantothenate kinase-associated neurodegeneration, or PKAN, a rare, progressive neurodegenerative genetic disorder. The FORT Study is designed to be registration-enabling in the U.S. and Europe, and top-line results are expected in Q3 of 2019.

08:09 EDT VBI Vaccines announces Phase 2 study design for VBI-1501 - VBI Vaccines announced its plans for a Phase 2 clinical study evaluating VBI-1501, the company's prophylactic cytomegalovirus, or CMV, vaccine candidate, following positive discussions with Health Canada. The Phase 2 study is expected to be a formal dose-ranging study designed to assess the safety and immunogenicity of three different dosages of VBI-1501. The program will be an observer-blind, four-arm, placebo-controlled study in both men and women, aged 18-40, and is expected to enroll approximately 110 subjects. Following discussions with Health Canada, toxicology studies are underway, the results of which are required prior to the start of the clinical study, which is expected to initiate enrollment around the end of 2019.

08:07 EDT Acasti Pharma achieves enrollment targets for TRILOGY trials - Acasti Pharma for the treatment of severe hypertriglyceridemia, or HTG, announced it has reached the enrollment targets for its TRILOGY phase 3 trials. In total, over 1,450 patients have been enrolled at 150 clinical sites across the U.S., Canada and Mexico.

08:02 EDT AstraZeneca: Phase 3 OLYMPUS, ROCKIES trials each met efficacy endpoint - AstraZeneca (AZN) announced that the Phase 3 OLYMPUS and ROCKIES trials for roxadustat each met their primary efficacy endpoints for the treatment of patients with anaemia in chronic kidney disease that are either non-dialysis-dependent or dialysis-dependent, respectively. Roxadustat is a hypoxia-inducible factor prolyl hydroxylase inhibitor and a potential first-in-class new medicine to treat anaemia in CKD being jointly developed and commercialized by AstraZeneca and FibroGen (FGEN). Data from the Phase 3 OLYMPUS and ROCKIES trials, together with the efficacy and pooled safety data from the global Phase III program, will be part of the regulatory submission package in the U.S. and other major countries. Results from these trials will be presented at forthcoming medical meetings.

07:52 EDT CareDx announces data that demonstrates clinical utility of AlloSure in RKTR - CareDx announced the publication of data demonstrating the clinical utility of measuring AlloSure in repeat kidney transplant recipients in the American Journal of Transplantation. AlloSure is the first donor-derived cell-free DNA test to assess allograft health and is broadly available to transplant patients. Previous publications demonstrating the clinical value of AlloSure were based on first-time or single kidney transplant recipients, or SKTR; the current study is the first study to include repeat kidney transplant recipients, or RKTR. In patients without evidence of rejection, the median readouts of AlloSure were significantly lower than threshold levels for rejection in both SKTR and RKTR. In patients with active rejection, AlloSure levels were similarly elevated in SKTR and RKTR patients alike.

07:47 EDT Merck KGaA assigns CAR-T rights to Intrexon - Merck KGaA (MKGAY) announced that through its wholly owned subsidiary, Ares Trading, it has evolved its agreement with Intrexon Corporation (XON) for the development of Chimeric Antigen Receptor T-cell therapies, genetically engineered T-cells with synthetic receptors that recognize a specific antigen expressed on tumor cells. The agreement with Intrexon and its wholly-owned subsidiary, Precigen, enables Merck KGaA, Darmstadt, to continue to implement its focused R&D strategy, while maintaining an investment in the future potential of next-generation CAR-T development. Under the terms of the agreement, Merck KGaA will assign its exclusive CAR-T development rights to Intrexon. Merck KGaA will receive shares of Intrexon common stock valued at $150M in exchange for assigning Intrexon its CAR-T rights. Merck KGaA first entered into a collaboration and license agreement with Intrexon in 2015 to develop and commercialize CAR-T cancer therapies utilizing Intrexon's proprietary RheoSwitch Therapeutic System and the Sleeping Beauty non-viral gene integration technology. The combination of these platforms enables regulation of gene expression and delivery with a non-viral approach and preclinical data indicate the potential to improve therapeutic safety and facilitate shortened manufacturing to improve time-to-treatment. As of December 31, 2017, these rights were considered intangible assets not yet available for use with a carrying amount of EURO$104M. In addition to receiving $150M of Intrexon common stock, this agreement also includes a further $25M investment in Intrexon. In return, Merck KGaA will receive a $25M convertible note, providing the option to receive either Precigen or Intrexon stock. The closing of the transactions contemplated by the agreement is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

07:43 EDT Berkshire Hathaway announces early warning reporting for Home Capital Group bid - Berkshire Hathaway understands, as a result of the substantial issuer bid by Home Capital Group, that approximately 83% of the common shares of the Issuer held by Berkshire will be repurchased by the Issuer at a price of C$16.50 per Repurchased Share, for aggregate gross proceeds of approximately C$220M. Berkshire tendered all of its Common Shares to the Issuer Bid and understands that the Repurchased Shares will be repurchased by the Issuer in accordance with the terms of the Issuer Bid with the result that, immediately following take-up of the Repurchased Shares, Berkshire is expected to hold less than 10% of the issued and outstanding Common Shares. Prior to the Issuer Bid, Berkshire beneficially owned and exercised control over approximately 19.99% of the issued and outstanding Common Shares. Berkshire holds the Common Shares for investment purposes. Berkshire will evaluate its investment in the Issuer from time to time and may increase or decrease its shareholdings as circumstances require.

07:41 EDT Kemet trading resumes

07:39 EDT Aquestive Therapeutics provides update on Libervant, Exservan filings - Aquestive is developing diazepam buccal film for the treatment of seizure clusters in patients with refractory epilepsy. The company recently held a pre-NDA meeting with the FDA to review data and pharmacokinetic models generated thus far from multiple clinical studies. Based on the FDA's feedback, the company is planning to complete a single-dose, crossover study in a small number of epilepsy patients comparing DBF and Diastat dosing and, in parallel, advance plans for filing an NDA in 2019.Libervant is a novel formulation of diazepam as a small, thin film strip for placement inside the cheek. Libervant leverages Aquestive's proprietary PharmFilm technology and is in development for the management of select patients with refractory epilepsy who require intermittent use of diazepam to control episodes of increased seizure activity or seizure clusters. Currently, the only product with FDA-approval for treatment is Diastat, a rectally-applied gel. Aquestive is also planning to submit an NDA in January 2019 for riluzole oral film. The company recently completed a swallowing safety study after receiving the FDA's permission to shorten the study. The primary objective of the study was to evaluate the effect, if any, of investigational ROF on swallowing safety in subjects with amyotrophic lateral sclerosis. The study successfully met its primary endpoint and showed that Exservan has no adverse effect on swallowing safety in subjects with ALS.

07:37 EDT Intrexon, Merck KGaA announce agreement for development of CAR-T therapies - Intrexon Corporation (XON) and its wholly-owned subsidiary Precigen announced Intrexon has assumed its agreement with Merck KGaA (MKGAY) through its wholly-owned subsidiary Ares Trading, for the development of Chimeric Antigen Receptor T-cell therapies, which are genetically engineered t-cells with synthetic receptors that recognize a specific antigen expressed on tumor cells. Upon closing, the agreement will enable Precigen's complete autonomy of its CAR-T program and allow Merck KGaA, Darmstadt, Germany, to maintain an investment in the future potential of next generation CAR-T development. Under the terms of the agreement, Merck KGaA, Darmstadt, Germany, will assign its exclusive CAR-T development rights to Intrexon, allowing Precigen to continue autonomous development of its proprietary CAR-T technology platform. Merck KGaA, Darmstadt, Germany will receive $150M in Intrexon stock in exchange for assigning its CAR-T rights. Merck KGaA, Darmstadt, Germany, and Intrexon first entered into a collaboration and license agreement in 2015 to develop and commercialize CAR-T cancer therapies utilizing Intrexon's proprietary RheoSwitch Therapeutic System and its Sleeping Beauty non-viral gene integration technology. The combination of these platforms enables regulation of gene expression and delivery with a non-viral approach, and preclinical data indicate the potential to improve therapeutic safety and facilitate shortened manufacturing to improve time to treatment. In addition to receiving $150M of Intrexon common stock, this agreement also includes a further $25M investment in Intrexon. In return, Merck KGaA, Darmstadt, Germany, will receive a $25M convertible note, providing the option to receive either Precigen or Intrexon stock. The closing of the transactions contemplated by the agreement is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

07:34 EDT W.P. Carey announces industrial property investments totaling $119M - W. P. Carey announced investments totaling approximately $119M. The investments comprise mission-critical properties triple-net leased to industry-leading tenants with a weighted average lease term of approximately 20 years. The transactions include: $41M acquisition of a 550,000-square-foot distribution facility leased to Orgill, the world's largest independent hardware distributor, in Kilgore, TX, which serves as its distribution center for Texas, Oklahoma, Louisiana and southern Arkansas. W. P. Carey has also agreed to provide up to an additional $14M for a 329,000-square-foot expansion to the existing facility, with completion expected mid-2019. The facility is triple-net leased for a period of 25 years, which will reset upon completion of the expansion.$33M sale-leaseback of a six-property industrial portfolio with the largest independent waste company in Illinois and Wisconsin. The transaction includes five transfer stations / material recovery facilities and a corporate headquarters located in the greater Chicago area. The portfolio is under a master lease on a triple-net basis for a period of 25 years with annual CPI-based rent escalations. $31M investment in distribution, warehouse and global headquarters facilities leased to Brake Parts Inc., a multinational manufacturer and distributor of aftermarket automotive products. The properties are located in the greater Chicago area and include Brake Parts' largest U.S. distribution facility. They are triple-net leased with a remaining lease term of 11 years and fixed annual rent escalations.

07:33 EDT Aqua America acquires Valley Creek Trunk Sewer System for $28.3M - Aqua America's unregulated subsidiary Aqua Resources acquired the Valley Creek Trunk Sewer System, serving area municipalities, from the Tredyffrin Township Municipal Authority for $28.3M. The Valley Creek Trunk Sewer System receives untreated wastewater from Easttown, East Whiteland, Willistown and Tredyffrin Townships, Malvern Borough and the Valley Forge Sewer Authority. The system consists of 49,000 linear feet of gravity sewers, as well as the Darby Road and Wilson Road pump stations and force mains.

07:32 EDT Conagra Brands reports Q2 organic net sales down 1.6% - Organic sales decline reflects 0.6 percentage point increase in price/mix in the Legacy Conagra business, with increased pricing in each Legacy Conagra reporting segment more than offsetting increases in retailer marketing and an estimated 2.2 percentage point negative impact from the hurricanes in last year's comparable period; the volume decline of 2.2 percentage points in the Legacy Conagra business was primarily a result of the hurricane-related impact. CEO Sean Connolly states: "For the Legacy Conagra Brands business, our second quarter results reflect continued momentum. Net sales were largely in line with our expectations. Our Refrigerated & Frozen and Grocery & Snacks segments continued to gain share with consistent, accelerating consumption trends behind strong innovation, particularly in our frozen and snacks & sweet treats businesses. Accordingly, we are reaffirming our fiscal 2019 net sales and margin guidance for Legacy Conagra Brands."

07:30 EDT Supernus trading resumes

07:25 EDT Supernus Phase 3 study of SPN-812 meets primary endpoint at 200 mg, 400 mg doses - Supernus announced positive topline results from a pivotal Phase III study of SPN-812 in adolescents for the treatment of attention deficit hyperactivity disorder, or ADHD. At daily doses of 200 mg and 400 mg, the trial met the primary endpoint with robust statistical significance in improvement in the symptoms of ADHD from baseline to end of study as measured by the ADHD Rating Scale-5. Both active doses were well tolerated. The company expects to announce topline data from the final Phase III trial of SPN-812, study P304 in adolescents, by the end of Q1 of 2019. The company expects to submit a new drug application for SPN-812 in the second half of 2019, and to launch it, pending FDA approval, in the second half of 2020. This primary result, based on mixed model repeated measures, or MMRM, analysis in the intent-to-treat, or ITT, population, was confirmed by sensitivity analyses using analysis of covariance, or ANCOVA. With respect to the effect size, patients receiving 200 mg and 400 mg had an effect size of 0.47 and 0.50, respectively, within the range of 0.46 to 0.63 observed in the first two Phase III studies and the Phase IIb study. The study demonstrated fast onset of action, reaching statistical significance for the 400 mg dose as early as week 1 with a p-value of 0.0085, and maintaining statistical significance on a weekly basis through the end of the trial at week 6. Onset of action for the 200 mg dose showed clear differences compared to placebo starting by week 1, reaching statistical significance at week 3, which was sustained through the rest of the trial. In addition, SPN-812 200 mg and 400 mg met the clinical global impression-improvement secondary endpoint with p-values of 0.0042 and 0.0003, respectively, compared to placebo. Overall, the trial exhibited favorable tolerability and safety profiles with low incidence of AEs across all doses. AEs were mild leading to low discontinuation rates due to AEs of 1.9%-4.1%. Treatment related AEs that reported at more than or equal to 5% for SPN-812 were somnolence, fatigue, decreased appetite, headache and nausea.

07:19 EDT FibroGen announces three roxadustat trials meet primary efficacy endpoints - FibroGen announced that roxadustat, an inhibitor of hypoxia-inducible-factor, or HIF, prolyl hydroxylase activity, or HIF-PHI, met all primary efficacy endpoints in the three global pivotal Phase 3 trials conducted by FibroGen: ANDES in non-dialysis-dependent, or NDD, chronic kidney disease, or CKD, patients, HIMALAYAS in incident dialysis patients, and SIERRAS in dialysis-dependent, or DD, CKD patients. Each of the three studies had a pre-specified primary efficacy endpoint for meeting U.S. regulatory requirements and another pre-specified primary efficacy endpoint for meeting EU regulatory requirements, which also served as a secondary efficacy endpoint for the U.S. Both the U.S. and EU primary efficacy endpoints were met in all three studies. ANDES is a 922-patient global Phase 3, randomized, double-blinded, placebo-controlled trial designed to evaluate the efficacy and safety of roxadustat versus placebo for the treatment of anemia in patients with later-stage CKD who are not dialysis-dependent. This study was conducted in the U.S. and 14 other countries. Treatment duration was up to 4.5 years, with average duration of 1.7 years. Baseline hemoglobin levels averaged 9.1 g/dL in both the roxadustat and the placebo arms. Roxadustat was superior to placebo in mean Hb change from baseline to the average over weeks 28-52. A higher proportion of roxadustat-treated patients achieved a Hb response in the first 24 weeks as compared to placebo. HIMALAYAS is a 1,043-patient global Phase 3 randomized, open-label, active-controlled trial to assess the efficacy and safety of roxadustat compared to epoetin alfa, an ESA, for the treatment of anemia in CKD patients who have newly initiated dialysis treatment for end stage renal disease and have had minimal or no exposure to ESA prior to study participation. This study was conducted in the U.S. and 17 other countries. Treatment duration was up to 4.4 years, with mean duration of 1.8 years. Mean baseline Hb was 8.43 g/dL in the roxadustat arm and 8.46 g/dL in the epoetin alfa arm. The mean Hb change from baseline to the average over weeks 28-52 was 2.57 g/dL vs. 2.36 g/dL, a least squares mean difference of 0.18 g/dL, with the 95% confidence interval, or CI. The non-inferiority criteria was met as the lower bound of the 95% CI was well above the non-inferiority margin of -0.75 g/dL, and superiority over epoetin alfa was also achieved. Roxadustat met the non-inferiority criteria compared to epoetin alfa: 88.2% of the roxadustat-treated patients achieved a Hb response in the first 24 weeks compared to an 84.5% responder rate in the epoetin alfa arm; lower bound of the 95% CI of the treatment difference in responder rate is well above the non-inferiority margin of -15%. SIERRAS is a 741-patient U.S. Phase 3, randomized, open-label, active-controlled trial to assess the efficacy and safety of roxadustat compared to epoetin alfa for the treatment of anemia in DD-CKD patients who were receiving stable doses of ESA prior to study participation. Treatment duration was up to 3.5 years, with a mean duration of 1.9 years. Mean baseline Hb levels were 10.3 g/dL in both roxadustat and epoetin alfa arms. The mean Hb change from baseline to the average over weeks 28-52 was 0.39 g/dL vs -0.09 g/dL, a least squares mean treatment difference of 0.48 g/dL. Roxadustat met the non-inferiority criteria as the lower bound of 95% CI was well above the non-inferiority margin of - 0.75 g/dL. Roxadustat also achieved superiority. The mean Hb change from baseline to the average over Weeks 28-36 was 0.54 g/dL vs -0.02 g/dL, a least squares mean treatment difference of 0.53 g/dL with a 95% CI. Roxadustat met the non-inferiority criteria as the lower bound of the 95% CI was well above the non-inferiority margin of -0.75 g/dL. Roxadustat also achieved superiority over epoetin alfa. The preliminary safety analyses of each of these three individual studies show an overall safety profile consistent with the results observed in prior roxadustat studies. The adverse events reported are consistent with those expected in these study populations with similar background diseases.

07:13 EDT Deciphera begins Phase 3 study of ripretinib for gastrointestinal tumors - Deciphera has initiated a pivotal Phase 3 clinical study, "Intrigue", to evaluate the efficacy and tolerability of ripretinib, a broad-spectrum KIT and PDGFRalpha inhibitor, compared to sunitinib in second-line gastrointestinal stromal tumor patients. Deciphera believes that this Phase 3 study could serve as the basis for a regulatory submission for broad use in all second-line GIST patients and expects to report top-line data from the first Phase 3 clinical study, Invictus, in fourth-line and fourth-line-plus GIST patients in mid-2019. The Intrigue Phase 3 clinical study is an interventional, randomized, global, multicenter, open-label study to evaluate the safety, tolerability and efficacy of ripretinib compared to sunitinib in patients with GIST previously treated with imatinib. The primary efficacy endpoint is median progression-free survival. Secondary endpoints include Objective Response Rate and Overall Survival.

07:10 EDT Fuling Global announces plan for new manufacturing factory in Mexico - Fuling Global announced its plan to set up a manufacturing factory in Monterrey, Mexico. With capital expenditure budget of $2M, the company expects that the first phase of the Mexico Factory will have an annual design capacity of 10,000 tons and will be primarily used for producing paper straws and paper cups serving the U.S. market. The Company expects to launch commercial production at the Mexico Factory by April 2019. Earlier this month, the Company signed a building lease with Interpuerto Industrial Park in Monterrey, Mexico and a service agreement with a local shelter service company to help with administrative, accounting, compliance, import/export, human resources, etc., at the Mexico Factory. Factory remodeling is expected to start in January 2019, followed by equipment installation and testing and worker recruitment in March.

07:07 EDT Walgreens Boots Alliance to launch transformational cost management program - Walgreens Boots Alliance has launched a transformational cost management program targeting annual cost savings in excess of $1 billion by the end of the third year. The program includes divisional optimization initiatives, global smart spending, global smart organization and digitalization of the enterprise to transform long-term capabilities. Divisional optimization has already started and includes cost reduction activities in the Pharmaceutical Wholesale division and in the company's retail businesses in Chile and Mexico. Additionally, the company has initiated global smart spending and smart organization programs, initially focused on the company's Retail Pharmacy USA division, its retail business in the UK and its global functions. The company anticipates that aspects of such initiatives would result in significant restructuring and other special charges as they are implemented. The company has recognized cumulative pre-tax charges of $30 million for the three months ended November 30, 2018, which were primarily recorded within selling, general and administrative expenses. These charges primarily relate to the retail businesses in Chile and Mexico, in the Retail Pharmacy International division.

07:07 EDT Rosehill Resources sees 2019 annual production 20-21.5 MBoe/d - Highlights for 2019 include: Estimated 2019 annual production guidance of 20 - 21.5 MBoe/d (~75% oil and 88% liquids), up over 25% compared to the midpoint of 2018 guidance; Estimated 2019 Adjusted EBITDAX guidance of $210 - $230 million, up over 20% compared to the midpoint of 2018 guidance; Planned 2019 capital guidance of $220 - $240 approximately neutral to 2019 Adjusted EBITDAX. "We are building on the momentum created throughout 2018 into the new year and are excited to release our 2019 plan. We believe we are taking the appropriate steps to adjust our activity level to align with the level of cash generated and believe we can achieve impressive growth in both production and Adjusted EBITDAX in 2019. We remain flexible and can adjust our program in both directions in response to the dynamic environment," stated Gary C. Hanna, Rosehill's Chairman and Interim President and CEO. Hanna continued, "While we expect additional funding needs are minimal, we are targeting an increase in our liquidity position and have several potential options on that front including a potential monetization of our water infrastructure assets and further increases to our borrowing base. We have the benefit of a robust hedge portfolio, highlighted by oil hedges covering over 85% of expected 2019 production at the midpoint of guidance with an average floor of approximately $55 per barrel. Our hedge book value reached approximately $100 million this week." Rosehill sees "strong" Adjusted EBITDAX and production in the fourth quarter of 2018 to date above third quarter averages and highlighted by recent flow back results on a Z&T 32 three well pad in Loving County, Texas; these wells targeted the Lower Wolfcamp A formation and reached a cumulative initial production rate during a 24-hour period of 4,927 BOEPD, 68% oil, 346 BOEPD per 1,000 ft. of lateral.

07:05 EDT Altria takes 35% stake in JUUL with $12.8B investment - Altria Group announces it signed and closed a $12.8B investment in JUUL Labs, the U.S. leader in e-vapor. The service agreements will accelerate JUUL's mission to switch adult smokers to e-vapor products. Altria's investment represents a 35% economic interest in JUUL, valuing the company at $38B. JUUL will remain fully independent. As part of the service agreements: Altria will provide JUUL access to its premier innovative tobacco products retail shelf space, allowing JUUL's tobacco and menthol-based products to appear alongside combustible cigarettes. JUUL's flavored products will continue to only be available on JUUL.com; Altria will enable JUUL to reach adult smokers with direct communications through cigarette pack inserts and mailings to adult smokers via Altria companies' databases; Altria will apply its logistics and distribution experience to help JUUL expand its reach and efficiency and JUUL will have the option to be supported by Altria's sales organization, which covers approximately 230,000 retail locations. Altria will participate in the e-vapor category only through JUUL. The investment complements Altria's non-combustible offerings in smokeless and heat-not-burn, upon FDA authorization of IQOS. "Building on Altria's previously announced growth investment in Cronos Group Inc. (CRON), Altria believes its investment in JUUL strengthens its financial profile and enhances future growth prospects. Altria continues to position its business to return value for shareholders over the long-term through earnings growth and dividends. Altria expects its growth to be driven by maximizing income from its wholly-owned operating companies and increasing contributions from its equity and strategic investments. Altria's service companies will contribute their strong capabilities to enhance value creation in both its wholly-owned subsidiaries and, when appropriate, its investments," the company stated.

07:04 EDT Kemet trading halted, news pending

07:04 EDT Vanda Pharmaceuticals announces FDA acceptance of supplemental NDA for HETLIOZ - Vanda Pharmaceuticals announced that the U.S. Food and Drug Administration has accepted the filing of Vanda's Supplemental New Drug Application for HETLIOZ for the treatment of jet lag disorder. The FDA determined the action target date under Prescription Drug User Fee Act, to be August 16, 2019. HETLIOZ is currently approved for the treatment of Non-24 Hour Sleep Wake Disorder.

07:01 EDT Altria makes $12.8B minority investment in JUUL Labs

06:57 EDT Embraer, Republic Airway sign contract for $4.69B E175 jet order - Embraer and Republic Airway have signed a contract for a firm order of 100 E175 jets. This agreement was announced as a letter of intent, or LoI, at the Farnborough Airshow. The firm order has a value of $4.69B, based on current list prices, and will be included in Embraer's Q4 backlog. Deliveries will start in 2020. The contract also includes purchase rights for an additional 100 E175s, with conversion rights to the E175-E2, bringing the total potential order up to 200 E-Jets. With all purchase rights being exercised, the deal has a list price of $9.38B.

06:54 EDT China New Borun receives non-compliance notice from NYSE - China New Borun announced that it received notice from the NYSE that the company did not meet the NYSE's price criteria for continued listing standard because the average closing price of the company's American depositary shares, or ADSs, was less than $1.00 per ADS over a consecutive 30-trading-day period. Under NYSE rules, the company has six months following receipt of the notification to regain compliance with the minimum share price requirement. The company can regain compliance at any time during the six-month cure period if the company's ADSs have a closing share price of at least $1.00 on the last trading day of any calendar month during the period and also has an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period. The company expects to cure this deficiency within the prescribed timeframe and will duly notify the NYSE of its intention. The company's ADSs will continue to be listed and traded on the NYSE, subject to compliance with other NYSE continued listing standards and oversight by the NYSE.

06:50 EDT PNM Resources to join Western EIM, renewable energy plan approved by NMPRC - The New Mexico Public Regulation Commission, or NMPRC, unanimously approved an order pertaining to plans by PNM, the wholly owned New Mexico utility subsidiary of PNM Resources, to join the Western Energy Imbalance Market, or EIM, operated by the California Independent System Operator. The order governs the accounting treatment for costs related to joining the EIM. PNM is planning to join the EIM in 2021 and expects to seek recovery for these costs in future general rate cases, as the benefits from participation will reduce costs for customers under the existing fuel and purchase power clause. PNM considered the costs and benefits of joining multiple regional organizations and determined that the EIM currently provides the greatest benefit to customers, including expanding opportunities for PNM to integrate additional renewable energy into its service territory. Through coordination with other EIM members, PNM will be able to facilitate greater utilization of renewable resources in New Mexico. When renewable energy production on the PNM system exceeds the amounts needed by its customers, PNM will be able to sell this excess energy to other EIM members and reduce customer costs by the amount of these sales. The NMPRC also granted PNM unanimous approval of its 2019 Renewable Energy Act Plan, incorporating previously approved wind, solar and geothermal energy additions into customer rates. These renewable additions, which include 50 megawatts of solar facilities constructed in 2018, contribute to the 874 megawatts of existing and approved solar, wind and geothermal resources that PNM has planned to serve customers in 2021.

06:44 EDT Bombardier to supply and maintain 18 trams in Vienna - Bombardier and Wiener Lokalbahnen have signed a contract to supply 18 FLEXITY trams to Vienna, including the FlexCare maintenance management system over 24 years. The contract is valued at approximately $107M and includes an option for an additional 16 vehicles and an additional eight years of servicing and maintenance. The trams will be developed at Bombardier's global competence centre for trams and light rail vehicles in Vienna. The first vehicles are to be commissioned successively from 2021.

06:42 EDT Aphria signs LOI with Argentinian public entity to expand cannabis operations - Aphria's subsidiary ABP has signed a Letter of Intent with the Argentinian state-owned Cannabis Avatara Sociedad del Estado, or CANNAVA, to enter into a cooperation agreement regarding the cultivation of cannabis that will expand the company's strategic Argentinian operations into the Province of Jujuy. ABP is to establish a facility for the cultivation and processing of cannabis, as well as for the manufacturing of cannabis derivative products, including but not limited to cannabis oil.

06:39 EDT Quarterhill subsidiary signs license agreement with Powerchip Technology - Wi-LAN, a Quarterhill company, announced that WiLAN's wholly-owned subsidiary, Polaris, has granted a term license for certain patents owned by Polaris to Powerchip Technology. The licensed patents relate to dynamic random access memory, or DRAM, and semiconductor process technologies and are part of the portfolio that Polaris acquired in June 2015.

06:37 EDT Greif top acquire Caraustar Industries in cash deal valued at $1.8B - Greif announced that it has entered into a definitive agreement to acquire Caraustar Industries, a recycled paperboard and packaging solutions company, from an affiliate of H.I.G. Capital, in a cash transaction valued at $1.8 billion. The transaction is expected to close during the first quarter of calendar year 2019, subject to customary closing conditions, including regulatory clearances. Caraustar is a market leader in the production of uncoated recycled paperboard (URB) and coated recycled paperboard, or CRB, with a variety of applications that include tubes and cores and a diverse mix of specialty products. Based in Austell, Georgia, Caraustar's footprint includes over 80 operating facilities throughout the United States. For the last twelve months ended September 30, 2018 Caraustar generated sales of $1.4 billion and EBITDA of $174 million. Based on trailing twelve month actual volume, adjusted for current market conditions as of September 30, 2018, the run-rate EBITDA is $220 million. The transaction significantly enhances Greif's scale and scope in the industrial packaging market, creating significant competitive advantages and long-term operating leverage.

06:36 EDT NGL Energy Partners sells South Pecos water disposal assets for $238.8M - NGL Energy Partners has signed a definitive agreement to sell its South Pecos Water Disposal Assets to a subsidiary of WaterBridge Resources for $238.8M in cash proceeds at closing plus additional consideration upon meeting certain criteria. Proceeds will be used to reduce outstanding indebtedness, improve compliance leverage to under 3.0x by fiscal year-end, and enhance liquidity. NGL is focusing its substantial Delaware Basin Water Disposal operations in northern Reeves, Loving and Winkler counties in Texas and southern Eddy and Lea counties in New Mexico. The transaction is expected to close within 45 days.

06:34 EDT Rand Capital receives $6M SBIC funding commitment - Rand Capital was recently awarded a $6M commitment for additional capital to be issued to its wholly-owned subsidiary, Rand Capital SBIC. The leverage commitment, granted by the U.S. Small Business Administration, permits Rand SBIC to draw down capital, as needed, for future investments through September 30, 2023. This new debenture leverage will have a ten year maturity and will carry a fixed market rate of interest. Since the establishment of Rand SBIC in 2002, Rand has received $18M of SBA capital, of which it has repaid $10M.

06:23 EDT Google establishes formal process to reivew new AI-based initiatives - Google announced in a blog post that it has established a formal process to review new AI-based initiatives that involve sensitive policy questions. "Thoughtful decisions require a careful and nuanced consideration of how the AI Principles (which are intentionally high-level to allow flexibility as technology and circumstances evolve) should apply, how to make tradeoffs when principles come into conflict, and how to mitigate risks for a given circumstance. The review structure consists of three core groups: A responsible innovation team that handles day-to-day operations and initial assessments. This group includes user researchers, social scientists, ethicists, human rights specialists, policy and privacy advisors, and legal experts on both a full- and part-time basis, which allows for diversity and inclusion of perspectives and disciplines. A group of senior experts from a range of disciplines across Alphabet who provide technological, functional, and application expertise. A council of senior executives to handle the most complex and difficult issues, including decisions that affect multiple products and technologies. We've conducted more than 100 reviews so far, assessing the scale, severity, and likelihood of best- and worst-case scenarios for each product and deal." Reference Link

06:13 EDT NBCUniversal, Sony Pictures, Warner Bros, Sky offer EU concessions - The European Commission is inviting comments from interested parties on commitments offered by NBCUniversal (CMCSA), Sony Pictures (SNE), Warner Bros (T), and Sky (SKYAY) to address competition concerns relating to contractual clauses preventing the cross-border provision of pay-TV. The Commission's concerns relate to contractual clauses in certain bilateral film licensing contracts between six major film studios, including NBCUniversal, Sony Pictures, and Warner Bros, and the pay-TV broadcaster Sky UK, under which the studios license their output of films over a certain time for pay-TV to Sky UK. The clauses appear to prevent Sky UK from allowing EU consumers outside the UK and Ireland to access pay-TV services available in the UK and Ireland. NBCUniversal, Sony Pictures, and Warner Bros have decided to offer commitments to address the Commission's competition concerns. The proposed commitments are similar to those offered by Paramount (VIAB) in April 2016, which were accepted and made legally binding in July 2016. Disney (DIS) has also offered comparable commitments in November 2018.

06:04 EDT Fennec initiates rolling NDA in the US for Pedmark - Fennec Pharmaceuticals has initiated a rolling New Drug Application for Pedmark, a formulation for the prevention of ototoxicity induced by cisplatin chemotherapy in patients 1 month to less than 18 years of age with localized, non-metastatic, solid tumors, following a pre-submission meeting with the oncology division of the FDA. The company is targeting U.S. approval of Pedmark in 2H19. Pedmark has been granted Orphan Drug, Breakthrough Therapy and Fast Track designations from the FDA. In Europe, Fennec intends to submit its Marketing Authorisation Application via the European Medicines Agency's Paediatric-use marketing authorisation pathway next year.

05:41 EDT Flexsteel Industries appoints Jerald Dittmer as CEO - Flexsteel Industries announced that Jerald Dittmer has been named the company's President and CEO effective December 28, 2018. Dittmer will be appointed to the Board of Directors effective December 28, 2018. Most recently he served as President of the HON Company, a large office furniture designer and manufacturer.

05:36 EDT Chi-Med announces amendment to License & Collaboration Agreement with Eli Lilly - Hutchison China MediTech (HCM) announces certain amendments to the 2013 License and Collaboration Agreement on fruquintinib with Lilly Shanghai an affiliate of Eli Lilly (LLY). The 2018 Amendment covers adjustments in the respective roles and responsibilities of Chi-Med and Lilly, in China, for the development and commercialization of fruquintinib in the areas of future life cycle planning and development, collaborations for co-development of fruquintinib with other third-party anti-cancer agents as well as promotion and distribution rights of fruquintinib. Under the terms of the 2013 Agreement, decision making on LCI development beyond the initial indications of third-line colorectal cancer, or CRC, third-line non-small cell lung cancer, or NSCLC, and second-line gastric cancer was controlled by Lilly. The majority of development costs for LCIs were to be paid by Lilly, with the minority by Chi-Med. The 2018 Amendment now gives Chi-Med all planning, execution and decision making responsibilities for LCI development on fruquintinib in China. Chi-Med will pay all of the costs associated with fruquintinib LCI development in China. In return for this investment of capital and resources, Lilly will pay Chi-Med a $20 million milestone upon approval of each fruquintinib LCI in China, for up to three LCIs, totaling up to $60 million in LCI approval milestone payments. Furthermore, upon the launch of the first LCI, the tiered royalty structure, payable by Lilly to Chi-Med on total molecule sales in China, has been raised from the range of 15-20% in the 2013 Agreement to a new level of 15-29% under the 2018 Amendment. Under the terms of the 2013 Agreement, Lilly held full commercialization rights to fruquintinib in China. The 2018 Amendment provides Chi-Med the right to promote fruquintinib in provinces that represent 30% of the sales of fruquintinib in China upon the occurrence of certain commercial milestones. The Chi-Med Territory will expand to provinces that represent 40% of the sales of fruquintinib in China subject to additional criteria being met. Lilly will pay Chi-Med a fee for service to conduct all promotional activities in the Chi-Med Territory. Lilly has provided consent, and freedom to operate, for Chi-Med to enter into joint development collaborations with certain third-party pharmaceutical companies to explore combination treatments of fruquintinib and various immunotherapy agents. The first such collaborations with Innovent Biologics and Genor Biopharma will explore the combination of fruquintinib and their respective programmed cell death protein-1 antibodies, sintilimab and genolimzumab, in several solid tumor settings.

05:10 EDT TechnipFMC awarded 'significant' contract by Neste in Singapore - TechnipFMC (FTI) has been awarded a significant Engineering, Procurement support and Construction management services contract by Neste (NTOIY) for the expansion of their renewable products refinery in Singapore. This project will increase the overall Neste Singapore Refinery renewable products production by up to 1.3 million tons per year and includes TechnipFMC's steam reforming technology. This expansion aims at meeting the market demand for renewable products. The production process is based on Neste's proprietary NEXBTL state-of-the-art technology. For TechnipFMC a "significant" contract ranges between $75 million and $250 million.