Stockwinners Market Radar for December 31, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:26 EDT Portola Pharmaceuticals Chief Medical Officer John Lawrence, M.D. resigns - On December 30, 2018, John Lawrence, M.D. notified Portola Pharmaceuticals of his decision to voluntarily resign as the company's Senior Vice President and Chief Medical Officer, effective immediately in order to pursue a new position with a pharmaceutical company based on the East Coast.

17:12 EDT Netgear completes spin-off of Arlo Technologies - Netgear (NTGR) announced that it has completed its previously announced distribution of 62,500,000 shares of common stock of Arlo Technologies (ARLO) owned by Netgear, representing approximately 84.2% of the outstanding shares of Arlo common stock. After the completion of the distribution, Netgear no longer owns any shares of Arlo common stock.

16:54 EDT Boxer Capital reports 7.5% passive stake in DBV Technologies - In a regulatory filing, Boxer Capital disclosed a 7.5% stake in DBV Technologies, which represents 2.25M shares. The filing does not allow for activism.

16:31 EDT IRET completes 1-for-10 reverse stock split - IRET announced that it has completed its previously announced 1-for-10 reverse stock split of its outstanding shares of common stock and operating units. The reverse stock split took effect after the market closed on December 27, 2018, with trading commencing on a split-adjusted basis on December 28, 2018. Pursuant to the reverse stock split, every ten issued and outstanding shares of common stock and operating units of IRET were converted into one share of common stock or operating unit of IRET. Accordingly, the previously announced quarterly dividend of 7c per common share payable on January 15, 2019 to shareholders of record as of January 2, 2019 will now be 70c per common share, reflecting the 1-for-10 reverse stock split. IRET shares will continue to trade on the NYSE under the same ticker "IRET" and with a new CUSIP number.

16:23 EDT OGE Energy subsidiary seeks 4.4% rate increase to recover emission investments - Oklahoma Gas and Electric, a subsidiary of OGE Energy, announced that it has asked the Oklahoma Corporation Commission to review the company's request to recover its approximately $534M investment in the Sooner Power Plant and its approximately $75M investment in the Muskogee Power Plant. To comply with the federal Regional Haze Rule, the company has installed emissions-reducing scrubbers on the two coal-fired units at Sooner and is converting two units from coal to natural gas at Muskogee. The company is seeking a rate increase of $77.6M per year, or 4.4%, to recover its investment. This equates to an increase of approximately $7.60 per month for the average residential customer.

16:17 EDT Community Health completes divestiture of SC-based Mary Black Health System - Community Health Systems announced that subsidiaries of the company have completed the sale of 207-bed Mary Black Health System - Spartanburg in Spartanburg, S.C., and 125-bed Mary Black Health System - Gaffney in Gaffney, S.C., and their related businesses, including physician clinic operations and outpatient services, to Spartanburg Regional Healthcare System in Spartanburg, S.C. The effective date of the transaction is January 1.

16:13 EDT Proteostasis phase 1 study of PTI-428 meets objectives - The company has completed a phase 1 study of PTI-428 as an add on to subjects who are currently on Kalydeco. The two-center, double blinded and placebo-controlled study investigated four doses of PTI-428 in cystic fibrosis, CF, subjects on background Kalydeco therapy. Across the four dose levels and placebo, 15 subjects total were dosed with PTI-428 or placebo for two weeks.The study met the primary and secondary objectives and confirmed that the safety and pharmacokinetic profile of the drug was as expected. Exploratory analyses were not performed due to the small number of enrolled subjects.

16:09 EDT D.E. Shaw reports 5.2% passive stake in Verastem - In a regulatory filing, D.E. Shaw disclosed a 5.2% stake in Verastem, which represents nearly 4M shares. The filing does not allow for activism.

16:04 EDT Windstream sells EarthLink consumer internet business for $330M in cash - Windstream announced that it has sold the legacy EarthLink consumer internet business. Windstream acquired the business in its merger with EarthLink in February 2017. Trive Capital, a Dallas-based private equity firm, purchased the business for $330M in cash.

15:43 EDT Disney announces Magic Kingdom is under Phase 4 closure due to capacity - Disney noted on its touring plans page: "Disney uses different closure "phases" to gradually restrict the types of guests allowed into a theme park. Closures start at Phase 1 and progress up to Phase 4, where no additional guests of any sort are allowed into the park. Phased closures do not necessarily last all day: for example, if Magic Kingdom is under a Phase 4 closure at 10:00 a.m. on Christmas, sufficient guests might leave by 7:00 p.m. that all restrictions on park entry are lifted."

15:40 EDT Portola Pharmaceuticals trading resumes, shares up 7% to $18.24

15:28 EDT Michael Kors to change name to Capri HoldingsCapri Holdings - Capri Holdings announced that it has changed its name from Michael Kors Holdings Limited (KORS), and beginning on January 2, its New York Stock Exchange ticker symbol will be (CPRI). The company is also pleased to announce that it has completed its acquisition of Versace. VERSACE John D. Idol, Chairman and CEO of Capri Holdings said, "With the acquisition of Versace, we have now created one of the leading global fashion luxury groups in the world. The new name for our group, Capri Holdings, is inspired by the fabled island which has long been recognized as an iconic, glamorous and luxury destination. The island's spectacular three rock formation, formed over 200 million years ago, is symbolic of the timeless heritage and strong foundation that is at the core of each of the three founder-led brands."

15:21 EDT Portola Pharmaceuticals announces FDA approves PAS for Andexxa - Portola Pharmaceuticals announced that the U.S. FDA has approved the company's Prior Approval Supplement for its large-scale, second generation Andexxa, allowing for broad commercial launch in the United States.

15:07 EDT Green Growth Brands reaffirm commitment to acquire Aphria - Green Growth Brands reaffirms its commitment to launch an offer to purchase all of the issued and outstanding common shares of Aphria which it does not already own and welcomes early expressions of interest from Aphria shareholders who are frustrated with Aphria's performance and absence of compelling future plans for the company."Since we announced our intention to launch the takeover of Aphria we have seen two things. First, Aphria shareholders are welcoming a 45%+ premium offer because they understand the significant value that can be unleashed by our combined teams, assets and geographies. Second, a real interest in the market to understand Green Growth and our valuation," said Peter Horvath, CEO of Green Growth. "When investors consider our trailing revenue, recent license wins in Nevada, and a buildout in the new market of Massachusetts they agree that it is not a question of if Green Growth reaches C$7.00 per share, but when. We understand that there are some in the market who want to focus on destroying value at Aphria, but we are committed to creating it." Green Growth has been willing to work with Aphria's board to find ways to enhance value for shareholders of both companies. Green Growth is confident in the certainty of a C$300M financing at C$7.00 per share. Over 10% of Aphria's shareholders have already indicated their support of the Offer. Aphria's board has two options: Engage with Green Growth as a serious buyer to create real value or continue their endless analysis which will result in the destruction of shareholder value.

14:52 EDT Tempur Sealy unit in Latin America sells Bed Time assets for $2.6M - Tempur Sealy disclosed earlier today that its subsidiary in Latin America completed a transaction pursuant to which it sold substantially all of its assets to Bed Time S.A., an unrelated third party, for approximately $2.6M in cash, subject to certain working capital adjustments to be determined within 150 days of the closing. The transaction was entered into in connection with the company's previously disclosed evaluation of its International business segment operations pursuant to which it identified certain Latin American subsidiaries "with low profitability and difficult operating environments with higher operational risk and volatility." As a result of this evaluation, Tempur "decided to divest of the net assets of its Latin American subsidiaries and enter into licensee relationships in those markets."

14:25 EDT FCC adopts consent decree with NBC/Universal - The Federal Communications Commission adopted the consent decree entered into between it and NBC/Telemundo. The decree resolves issues concerning NBC/Telemundo's compliance with children's television programming obligations and requires the Comcast unit to pay $495,000. Reference Link

13:59 EDT Nobilis Health enters in-network contract at Plano Surgical Hospital - Nobilis Health announced that it has entered into an in-network contract at Plano Surgical Hospital "with one of the nation's largest commercial payors." The payor agreement went effective January 1, 2019. This facility will now be in network with three of the nation's four largest commercial payors, says Nobilis in a statement. "The execution of this agreement represents another significant step in our long-stated goal of becoming a comprehensive in network health system," said James Springfield, incoming CEO. "Nobilis has worked to move our facilities in network on a revenue neutral basis. The added benefits to our shareholders of moving in network will be the increased predictability and speed of collections as well as opening up a new market of "in network only" surgeons that we can attract to our facilities. This contract will put us at approximately 60% in network in Texas as we begin 2019. We continue to make progress in our negotiations with the nation's largest payors and hope to have more to announce on this matter in the near future."

13:24 EDT Paul Travers reports 9.6% activist stake in Vuzix - Paul Travers purchased the Vuzix's shares for investment purposes. As set forth above, the Paul Travers is the president, CEOr and chairman Vuzix. Except as set forth herein,Paul Travers has no present plans or proposals that relate to or would result in any of the actions required Paul Travers may, at any time, review or reconsider his positions with respect to the Issuer and formulate plans or proposals with respect to any of such matters, but except as described herein, he has no present intention of doing so.

13:11 EDT BOK Financial director Steven Bangert sells 11,500 shares of company stock - BOK Financial director Steven Bangert disclosed in a regulatory filing that he had sold 11,500 shares of company stock at an average price of $73.01 per share on December 21. The total transaction value of the sale was $839,615.

12:16 EDT Magnetar reports 6.38% stake in Nutrisystem, intends to vote for takeover - Magnetar Financial disclosed a 6.38% stake in Nutrisystem (NTRI), which represents over 1.8M shares. The filing allows for activism. Magnetar said it currently intends to vote in favor of the company's merger agreement. Tivity Health (TVTY) on December 10 announced its intention to acquire Nutrisystem in a cash and stock deal that valued the company at $47 per share. Nutrisystem in midday trading is up 11c to $43.93.

12:00 EDT Aphria falls -8.9% - Aphria is down -8.9%, or -56c to $5.70.

12:00 EDT VelocityShares 3x Long Natural Gas ETN falls -24.2% - VelocityShares 3x Long Natural Gas ETN is down -24.2%, or -$14.00 to $43.82.

12:00 EDT MFC Bancorp rises 13.1% - MFC Bancorp is up 13.1%, or 58c to $5.04.

10:48 EDT Pacira down 2% to $41.46 after FDA grants Heron priority review

10:36 EDT Sprint selected by State of Maine for TRS, CapTel services - Sprint has been selected to provide Telecommunications Relay Service, or TRS, and Captioned Telephone, or CapTel, services to the state of Maine, effective January 1. The Maine Telecommunications Relay Service Council, or MeTRS, chose Sprint Accessibility technologies for its Maine Relay Service.

10:13 EDT Weyland attributes share decline to Rule 144, sees pressure easing in 2019 - Weyland Tech discusses in a press release its recent share price decline and business operations. It says, "The Company has recently disclosed, among other things, the advancement of its AtoZPay subsidiary business and related stock spin-off as well as a significant increase in year over year revenue and gross margins from 2017 to 2018. Despite these business developments the market price of its common stock is very close to a 52-week low of $0.55. The Company believes that the share price decline is primarily related to shareholders taking advantage of Rule 144 to remove restrictive legends on an unusually large number of shares during the last six months. These shareholders participated in private placements in 2015, 2016 and early 2017 and, as a result, could have generally removed restrictive legends and deposited their shares in brokerage accounts for sale six months following their respective purchases during 2015, 2016 and 2017. Many of such shares were deposited and sold, however, many of those shareholders, who purchased at prices from a low of .50 and a high of 4.80 during 2015 to 2017, held their shares until recently. As a result, the Company's average daily volume has increased to 98,810 shares over last 30 days. Comparatively, during January 2018, our average daily volume was approximately 22,000 shares (and the average closing price during the month was over $5.00 per share). According the to the OTCMarkets' Annual Market Review for 2017, the average daily volume of companies' shares listed on the OTCQX during 2017 was 22,500 shares. As a result, the Company believes that the decline in our stock price is related primarily to an unusually high number of shares becoming available for public sale, and in fact, being sold as evidenced by the anomalistic increase in daily volume. So, the supply of shares on the market has been temporarily higher than the reasonably expected demand for our shares. We expect this market sales pressure to diminish during 2019 as we anticipate fewer shares becoming available for public sale than in 2018, and we expect our daily volume to return to an amount closer to historical levels over the longer term." Brent Suen, CEOm comments: "I've purchased 111,000 shares this year in the open market at prices ranging from $1.15 to a high of $2.40 and these shares are under a Company-imposed two year rolling lock-up. Additionally, the last time our market capitalization was at this level was Q1 2016 when quarterly revenues were around $2.2 million compared to Q3 2018 when the Company reported revenue of $8.3 million. Operationally, the Company is progressing well and the pipeline for new business is better than we've seen at any previous point in time. Furthermore, although we are trading on the highest level of the OTC Markets, the OTCQX, we are still not an institutionally driven name in the mobile applications industry sector. That being said, our average daily volume is much higher now than during the past four years of my involvement. Further an uplist to a higher profile market such as the NYSE/MKT or NASDAQ Capital Market remains our stated goal and would open up the visibility for investment in our shares to an entirely new audience of investors unable to buy stocks on Non-Exchange markets."

10:00 EDT United States Natural Gas Fund falls -6.5% - United States Natural Gas Fund is down -6.5%, or -$1.78 to $25.62.

10:00 EDT VelocityShares 3x Long Natural Gas ETN falls -19.1% - VelocityShares 3x Long Natural Gas ETN is down -19.1%, or -$11.07 to $46.75.

10:00 EDT Puxin Limited rises 6.3% - Puxin Limited is up 6.3%, or 36c to $6.06.

09:47 EDT United States Natural Gas Fund falls -5.7% - United States Natural Gas Fund is down -5.7%, or -$1.56 to $25.84.

09:47 EDT VelocityShares 3x Long Natural Gas ETN falls -16.7% - VelocityShares 3x Long Natural Gas ETN is down -16.7%, or -$9.66 to $48.16.

09:47 EDT Canada Goose rises 9.6% - Canada Goose is up 9.6%, or $3.99 to $45.77.

09:45 EDT XPO Logistics enters $500M credit agreement with Citibank - XPO Logistics disclosed this morning that on December 24, it entered into an unsecured $500M credit agreement with Citibank. The company expects to use the proceeds of loans borrowed under the unsecured credit agreement for general corporate purposes and to fund purchases of the company's common stock. XPO has borrowed $250M of loans under the credit agreement, which matures on December 23, 2019.

09:11 EDT Hoak Public Equities takes 1M share activist stake in PFSweb - Hoak Public Equities reports a 5.19% stake in PFSweb, which represents 1M shares. The filing allows for activism. Hoak said it purchased the stock based on the belief that it is "significantly undervalued and represented an attractive investment opportunity." The firm added that it is evaluating and considering "various alternatives in order to influence the performance" of the company and the activities of its board. Hoak may take such actions as it deems appropriate including recommending one or more candidates for nomination to the board, engaging in discussions with management and the board, communicating with other stockholders, making proposals to the board or stockholders concerning capital allocation, capitalization, operations and/or strategy of the company, as well as purchasing additional shares. Shares of PFSweb closed Friday down 5c to $5.19.

08:48 EDT Brookfield Infrastructure announces automatic purchase plan, updates NCIB - Brookfield Infrastructure announced that, in connection with its previously announced normal course issuer bid, or NCIB, it has entered into an automatic purchase plan with its designated broker. The automatic purchase plan, which has been pre-cleared by the Toronto Stock Exchange, will allow for the purchase of Brookfield Infrastructure's outstanding limited partnership units and class A preferred limited partnership units, subject to certain trading parameters, at times when Brookfield Infrastructure ordinarily would not be active in the market due to its own internal trading black-out periods, insider trading rules or otherwise. Outside of these periods, Units will be repurchased in accordance with management's discretion and in compliance with applicable law. The automatic plan commences on December 31 and terminates on November 11, 2019. The actual number of units purchased under the automatic plan, the timing of such purchases and the price at which units are purchased will depend upon future market conditions. Brookfield Infrastructure also announced that the TSX accepted a notice filed by Brookfield Infrastructure of its intention to amend its existing NCIB to permit the purchase of units through the facilities of designated exchanges and alternative trading systems in addition to the facilities of the TSX and, in the case of the LP units, the New York Stock Exchange.

08:36 EDT Amyris signs agreement with Xinfu for nutritional product royalty - Amyris announced that it has signed a long-term agreement with Xinfu of China for a significant initial payment and a long-term minimum annual share of an existing nutritional product royalty arrangement. This agreement enables Amyris to monetize a portion of the long-term royalty opportunity for this product upfront to manage volatility in a high-margin revenue stream.

08:31 EDT Heron Therapeutics: FDA grants Priority Review designation for NDA for HTX-011 - Heron Therapeutics announced that the U.S. FDA has accepted the new drug application for Heron's investigational agent, HTX-011, and has granted it a Priority Review designation. The NDA for HTX-011, which was submitted on October 30, 2018, comprises data from five Phase 2 clinical trials and two Phase 3 clinical trials that included over 1,000 patients undergoing five different surgical procedures. The FDA also indicated that it is not currently planning to hold an advisory committee meeting to discuss this application. The FDA set a Prescription Drug User Fee Act goal date of April 30, 2019.

08:17 EDT Alibaba pays $75M to settle California class action lawsuit - Alibaba Group, as well as certain of its directors and current and former executives, and the underwriters of its initial public offering, have been the subject of a consolidated class action lawsuit. The California Action was brought in October 2015 on behalf of a putative class of investors who purchased Alibaba's American Depositary Shares and alleged violations of the United States Securities Act of 1933. Alibaba disclosed this morning that on December 28, it entered into a settlement agreement pursuant to which we have agreed to pay $75M to settle the California Action. It explains in a regulatory filing, "We anticipate that the majority of the contemplated settlement payment will come from our director and officer liability insurance. No contribution will be made by any Defendant other than the Company. As agreed by the parties, the settlement agreement expressly provides that the settlement does not constitute an admission or finding that the claims asserted in the California Action had any merit. Under the terms of the settlement, all Defendants in the action will receive a full release of all claims brought in the California Action. The settlement does not release claims in the separate class action pending against us and certain of our current and former executives in federal court in the Southern District of New York, which alleges violations of the United States Securities Exchange Act of 1934, and is also discussed in our prior SEC filings." The settlement agreement is subject to court approval.

08:15 EDT Alibaba pays $75M to settle California action lauwsuit - Alibaba Group, as well as certain of its directors and current and former executives, and the underwriters of its initial public offering, have been the subject of a consolidated class action lawsuit. The California Action was brought in October 2015 on behalf of a putative class of investors who purchased Alibaba's American Depositary Shares and alleged violations of the United States Securities Act of 1933. Alibaba disclosed this morning that on December 28, it entered into a settlement agreement pursuant to which we have agreed to pay $75M to settle the California Action. It explains in a regulatory filing, "We anticipate that the majority of the contemplated settlement payment will come from our director and officer liability insurance. No contribution will be made by any Defendant other than the Company. As agreed by the parties, the settlement agreement expressly provides that the settlement does not constitute an admission or finding that the claims asserted in the California Action had any merit. Under the terms of the settlement, all Defendants in the action will receive a full release of all claims brought in the California Action. The settlement does not release claims in the separate class action pending against us and certain of our current and former executives in federal court in the Southern District of New York, which alleges violations of the United States Securities Exchange Act of 1934, and is also discussed in our prior SEC filings." The settlement agreement is subject to court approval.

08:13 EDT Acasti Pharma gets deficiency notice, says trials exceed 65% randomization - Acasti Pharma announced that the two Phase 3 TRILOGY trials have now exceeded 65% patient randomization, and more than 100 patients have completed their 6 month treatment plan. In total, about 1,500 patients have been enrolled at 150 clinical sites across the U.S., Canada and Mexico. Additionally, Acasti Pharma announced that it received written notification from the Nasdaq Listing Qualifications Department for failing to maintain a minimum bid price of $1.00 per share for the last 30 consecutive business days, as required by Nasdaq Listing Rule 5550. Acasti Pharma intends to evaluate all available options to resolve the deficiency and regain compliance with the minimum bid price rule.

08:07 EDT Kratos Defense receives $65M in space, satellite communications contract awards - Kratos Defense announced that it has received recent space and satellite communications contract awards and options on existing contracts totaling approximately $65M. Work performed under these contract awards will be performed at secure Kratos manufacturing facilities and customer locations and is expected to be substantially completed over the next 12 months. The awards include Kratos' products and services across technology application domains that defend space operations and assure global satellite communication for the United States and its allies.

08:04 EDT Focus Financial Partners announces partner firm acquuisitions - Focus Financial Partners announced that definitive agreements have been entered into under which Aurora Financial Advisors will join The Colony Group and WG&S will join Gelfand, Rennert & Feldman. Each of these transactions is expected to close in the first quarter of 2019, subject to customary closing conditions.

08:01 EDT China Jo-Jo Drugstore announces strategic transformation plan - China Jo-Jo Drugstores announced that the company is initiating a strategic transformation plan proposed by Mr. Wei Hu, COO of Jo-Jo Drugstores. The company expects to become a new benchmark for the smart drugstores with medical diagnosis and a leading brand in the pharmaceutical industry in China. The company expects to follow the Plan to execute and implement a well-defined market launch and growth strategy to explore potential markets and benefit more customers. The Plan includes many initiatives covering many business sectors. Highlights of the plan include: Improvement of offline retail pharmacies and the online pharmacy official website. Planned upgrades will improve and offer internet hospital services, a chronic disease management platform, and online and offline services from health management experts. The Xiaojiujianguan customer service center will provide medical health consultation and intervention and share drug information. Smart guidance and medication consultation to be integrated with the online pharmacy. Offline retail pharmacies will conduct grassroots promotions and two-way referrals as permitted by government policy. Exploitation of multiple markets from medical diagnosis to efforts to improve customers' health lifestyle. Deepening promotion of the national medical reform in diagnosis, treatment, and two-way referral.

07:36 EDT Bridgepoint Education names Greg Finkelstein as COO - Bridgepoint Education announced the appointment of Greg Finkelstein to the position of COO effective December 31, 2018, reporting to CEO Andrew Clark. Finkelstein will oversee the operational and marketing aspects of the business. Most recently, Finkelstein was an Executive in Residence for the Education Opportunity Fund at Sterling Partners.

07:34 EDT Endo: FDA requests further stay of Endo's ongoing litigation - Endo International announced that, due to the ongoing federal government shutdown, the U.S. FDA has requested a further stay of Endo's ongoing litigation against the FDA for the duration of the shutdown. That litigation challenges the FDA's authorization of the bulk compounding of drugs, including vasopressin, that have not satisfied the legal requirements under Section 503B of the Drug Quality and Security Act amendments to the Federal Food, Drug, and Cosmetic Act. One of Endo's subsidiaries, Par Sterile Products, LLC, manufacturers the only vasopressin product currently approved by the FDA, Vasostrict. The suit was most recently stayed until December 31, 2018 and the FDA had committed to use its best efforts to issue a final clinical need determination for vasopressin on or before that date. The FDA has now filed a motion, which Endo did not oppose, seeking a further stay of the suit for the period of time in which the government lacks appropriations. According to the FDA's motion, absent an appropriation, Department of Justice attorneys and the FDA employees responsible for handling Endo's litigation and the clinical need determination, respectively, are prohibited from working, even on a voluntary basis, except in very limited circumstances. If the FDA's motion is granted, the litigation will be stayed for as long as the appropriations lapse continues and Endo is not at this time aware when appropriations may resume.

07:07 EDT Ship Finance acquires two TEU container vessels - Ship Finance announced that it has acquired two 2016-built 19,400 TEU container vessels and contracted the vessels until late 2033 to a container line on long term bareboat charters. The contracts increase the company's fixed rate charter backlog by nearly $470M and the charterer has agreed to purchase obligations at the end of the charter period.

07:04 EDT Imprimis changes name to Harrow Health, to trade under new symbol - Harrow Health, formerly known as Imprimis, announced it has formally changed its name and that it will trade as (HROW) on the Nasdaq Capital Markets beginning at market open January 2, 2019. Harrow Health's businesses and subsidiaries will continue to operate under the Harrow Health corporate umbrella using their existing names.

07:02 EDT Great Ajax announces special cash dividend of 5c per share - Great Ajax announced that the Board of Directors of the Company declared a special cash dividend of 5c per share of the Company's common stock, which will be payable on January 31, 2019 to common stockholders of record as of January 15, 2019.

06:08 EDT Pattern Energy announces board changes, adds board seat - Pattern Energy announced changes to its board with the appointment of two new independent directors and the resignation of an existing member. Mona Sutphen has been appointed to the Pattern Energy board, to which she brings experience in macroeconomics, geopolitics, policy, organizational and risk management planning and regulatory matters. Richard Goodman has been appointed to the Pattern Energy board, to which he brings expertise as a former CFO of a Fortune 100 company and board experiences with global industrial, retail and financial services companies. Patricia Bellinger has resigned her position as a director of Pattern Energy due to time constraints of a new role she has accepted at Harvard University, Bellinger has served more than five years as a director. As a result of these changes, Pattern Energy's board is comprised of seven directors, six of whom are independent

06:00 EDT Verizon, Disney announce 'broad-based' distribution agreement - "Verizon and The Walt Disney Company have reached a broad-based distribution agreement. Details will be released in the coming days," the companies said in a joint statement yesterday to media outlets. The current contract between Disney Media Networks and Verizon's Fios had been set to expire on December 31.

05:07 EDT Turquoise Hill, Government of Mongolia sign Power Source Framework Agreement - Turquoise Hill announced the signing of the Power Source Framework Agreement, or PSFA, between Oyu Tolgoi and the Government of Mongolia, which provides a binding framework and pathway forward for the construction of a Tavan Tolgoi-based power project, as well as establishes the basis for a long-term domestic power solution for the mine. The PSFA formalizes the role of each party and sets out an amended timetable for Oyu Tolgoi to source power domestically. Construction is expected to start in 2020 following further studies and commissioning of the power plant is scheduled for mid-2023. Oyu Tolgoi will now move forward to confirm the technical design of the project and finalize the commercial arrangements, including financing, underpinning the PSFA. The 300 megawatt plant will be majority owned by Oyu Tolgoi LLC and will be situated close to the Tavan Tolgoi coalfields.

05:00 EDT Hanover approves $600M buyback, $4.75 special dividend after Chaucer close - The Hanover Insurance Group announced last night it has completed the sale of Chaucer Holdings Limited, the major portion of its Lloyd's international specialty business, to China Reinsurance Corporation. In conjunction with the closing, completed on December 28, The Hanover's board of directors approved a new $600M share repurchase authorization, and, pursuant to that authorization, an accelerated share repurchase agreement for $250M. The board also declared a special dividend of $4.75 per share, or approximately $200M in the aggregate. The sales of Chaucer-related Irish and Australian entities, for proceeds of $28M and $13M, respectively, are pending final, local regulatory approvals and are expected to close in Q1 of 2019. The option of a multi-stage transaction was agreed upon in the sale and purchase agreement, and all parties remain fully committed to executing the remaining two pieces of the transaction, added Hanover. The company expects the transaction to generate approximately $840M to $860M of deployable equity and a net after-tax GAAP gain in the range of $130M to $150M, or $3.00 to $3.50 per share, dependent on final transaction costs, taxes, the amount of contingent consideration payable, and other items. The net after-tax economic gain, excluding the impact of historical unrealized investment losses, pension losses and other items, which better reflects the impact of the sale on the stated book value, is expected to be in the range of $190M to $210M, or $4.50 to $5.00 per share. Hanover has used the new program to immediately execute the accelerated share repurchase agreement for an aggregate purchase price of $250M, with J.P. Morgan. The ASR repurchase period is expected to conclude during the Q2 of 2019. The special cash dividend of $4.75 per share will be payable January 25, 2019, to shareholders of record at the close of business on January 10, 2019.