Stockwinners Market Radar for January 11, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:21 EDT Drive Shack says no longer plans to develop a venue in Marietta, GA - Drive Shack no longer plans to develop a venue in Marietta, GA. The change in direction comes as part of the company's enhanced strategy and plans for growth, now led by new CEO Ken May. Previously, May served as CEO of Topgolf where he was pivotal in the business's growth, opening 24 stores and quadrupling the company's workforce, all in just four years. Under his guidance Drive Shack aims to be positioned for similar growth. As part of the shift in direction, the company will be taking a deeper look at locations in which American Golf, a Drive Shack subsidiary, currently operates.

17:36 EDT Oxford Industries affirms Q4 and FY18 sales and earnings guidance - In a regulatory 8-k filing, Oxford Industries said the company will be presenting at the ICR Conference 2019 in Orlando, Florida on January 14, 2019. In connection with the presentation and related meetings with analysts and investors, the Company is announcing, among other things, that it is affirming its sales and earnings guidance for the fourth quarter and full 2018 fiscal year, which end on February 2, 2019, as previously published by the Company in its press release issued on December 12, 2018.

17:23 EDT Embraer board approves Boeing agreement - Embraer (ERJ), in addition to the Material Facts disclosed by the Company on December 17, 2018 and January 10, 2019, informs that in light of the favorable pronouncement from the Brazilian Federal Government regarding the strategic partnership between Embraer and Boeing (BA), in accordance with the terms disclosed in the Material Facts, the company's board of directors, on the date hereof, decided to ratify the resolution of December 17, 2018 that approved the Transaction; to authorize the execution of the Master Transaction Agreement, which provides the terms and conditions for the consummation of the strategic partnership in connection with the commercial aviation, the Contribution Agreement, which provides the terms and conditions for the creation of a joint venture for the promotion and development of new markets and applications for the multi-mission airplane KC-390, as well as of the other agreements and documents necessary or convenient for the consummation of the Transaction; and to authorize, after the approval of the Transaction by Embraer's shareholders, the executive officers to perform any act necessary for the consummation of the Transaction, including the transfer to the new company of the net equity comprised by assets, debts, properties, rights and obligations related to the commercial aviation business unit. The Transaction will be consummated after the resolution and approval of the Transaction by Embraer's shareholders at an Extraordinary Shareholders' Meeting; approval by antitrust authorities from Brazil, the United States of America and other applicable jurisdictions; and satisfaction of other conditions customary in similar transactions.

17:20 EDT Lockheed Martin awarded $131.60M Air Force contract for C-5 sustainment - Lockheed Martin has been awarded a $131.60M contract for C-5 sustainment. This contract provides for sustaining engineering services. Work will be performed in Texas, Georgia and California and is expected to be completed January 25. This award is the result of a sole-source acquisition. A combination of FY19 transportation working capital funds and operations and maintenance funds in the amount of $23.54M are being obligated at the time of award. Air Force Life Cycle is the contracting activity.

17:15 EDT Disney announces Derica Rice nominated to board of directors - The Walt Disney Company (DIS) Board of Directors announced that Derica Rice, Executive Vice President of CVS Health (CVS) and President of CVS Caremark, has been nominated to stand for election as a director at the company's annual meeting on March 7.

17:04 EDT SSLJ.com receives Nasdaq deficiency notice - SSLJ.com received a deficiency notice from Nasdaq, stating that the company has not filed its financial information for the six-month period ended June 30, 2018 on a Form 6-K and as a result the company no longer complies with Nasdaq's listing rules for continued listing set forth in the Listing Rule 5250. Nasdaq has informed the company that it has 60 calendar days or until March 8, to submit a plan as definitive as possible to regain compliance with the Nasdaq's continued listing requirements. If Nasdaq accepts the company's plan to regain compliance in that respect, Nasdaq can grant an exception of up to 180 calendar days from the prescribed Filing due date or until July 1 to regain compliance. The company is currently working on the plan to regain compliance with respect to the listing rule 5250 to meet the requirements for continued listing. It intends to submit such plan to Nasdaq as soon as practicable prior to March 8.

17:01 EDT Hovnanian says will request shareholder approval to enable reverse stock split - Hovnanian Enterprises, Inc. announced that it will be requesting shareholder approval at its annual meeting on March 19, 2019 for amendments to its restated certificate of incorporation that will enable the company to conduct a reverse stock split. The details of the proposed reverse stock split are provided in the company's preliminary proxy statement filed with the Securities and Exchange Commission on January 11, 2019. Hovnanian is proposing the reverse stock split primarily in order to address the minimum average closing price criteria set forth in the New York Stock Exchange's Listed Company Manual. On January 9, 2019, Hovnanian received written notification from the NYSE that the average closing price of Hovnanian's Class A common stock over the consecutive 30 trading-day period ended January 7, 2019 was $0.98, which is below the $1.00 minimum average closing price required by the NYSE's continued listing standard.

16:52 EDT Delek US announces formation of DK Trading & Supply - Delek US Holdings announced the formation of DK Trading & Supply, a wholly owned subsidiary of Delek US. This will consolidate commercial activities for crude oil, refined products and renewable purchases, sales and other commercial activity under one entity in 2019. These activities had previously been conducted through a series of companies under the Delek US umbrella.

16:46 EDT Churchill Downs confirms 3-for-1 stock split record date January 11 - As previously announced on October 31, 2018, the board of Churchill Downs Incorporated approved a three-for-one split of the company's common stock for shareholders of record as of January 11, 2019. The Stock Split will be effectuated by distributing to each shareholder two additional shares for every outstanding share held as of the Split Record Date. The additional shares will be distributed on January 25, 2019, and the stock will begin trading at the split-adjusted price starting on January 28, 2019.

16:36 EDT Eaton Vance reports consolidated AUM $423.1B on December 31 - This compares to $439.3B on October 31, 2018, the close of the company's fiscal year.

16:35 EDT Morgan Stanley reports 5% passive stake in MIND C.T.I. - In a regulatory filing, Morgan Stanley disclosed a 5% stake in MIND C.T.I., which represents 967,301 shares. The filing does not allow for activism.

16:31 EDT Engility, SAIC stockholders both approve merger - Science Applications International Corporation (SAIC) and Engility Holdings (EGL) announced that stockholders of each SAIC and Engility overwhelmingly approved their respective proposals related to the proposed merger of SAIC and Engility at their respective special meetings of stockholders earlier today. More than 98% of the shares voting at the SAIC special meeting of stockholders voted in favor of the proposal to issue shares of SAIC common stock to Engility stockholders in connection with the merger, and more than 99% of the shares voting at the Engility special meeting of stockholders voted in favor of the proposal to approve and adopt the merger agreement. Upon the consummation of the merger, Engility stockholders will have the right to receive 0.450 shares of SAIC common stock for each share of Engility common stock, with cash paid in lieu of fractional shares. SAIC and Engility expect the closing of the transaction to occur promptly, subject to the satisfaction of all conditions.

16:30 EDT Bank of America contacts clients affected by government shutdown - Bank of America said it has reached out to clients who may be impacted by the partial federal government shutdown to make them aware of the bank's Client Assistance Program. "We know the partial federal government shutdown is affecting many of our clients, and we want them to know that we are here to help," said Aron Levine, head of Consumer Banking. "Our Client Assistance Program is available to individuals affected by the shutdown for personalized financial assistance, tailored to their specific situation and financial needs." The bank has set up a priority assistance phone line that clients can contact.

16:22 EDT Motorola Solutions launches Si200 body-worn camera - Motorola Solutions announced the launch of the Si200 body-worn camera, the newest addition to the company's digital evidence ecosystem. The Si200 integrates with CommandCentral Vault, the company's software solution for digital evidence management that enables agencies to efficiently and securely manage content from in-field capture to judicial sharing, in one system. The body-worn camera captures high-definition video and features additional advanced capabilities.

16:17 EDT Virginia regulator reapproves Oceanwide acquisition of Genworth's companies - Genworth Financial and China Oceanwide Holdings Group Co., announced that the Virginia State Corporation Commission, Bureau of Insurance, reapproved the proposed acquisition of control by Oceanwide of Genworth's Virginia-domiciled insurance companies, Genworth Life and Annuity Insurance Company and Jamestown Life Insurance Company, as contemplated under the merger agreement entered into by Genworth and Oceanwide on October 21, 2016. In addition to reapproval by the Virginia regulator, insurance regulators in North Carolina, South Carolina and Vermont also reapproved the proposed acquisition of control by Oceanwide of Genworth's subsidiaries domiciled in those states. Regulators in these four states had previously approved the transaction and reapproved after the parties filed supplemental information to reflect changes to the transaction that had occurred since the regulators' original approvals. In addition to approvals already received, the closing of the transaction remains subject to other conditions, including the receipt of other required regulatory approvals in the U.S., China and Canada. Genworth and Oceanwide are actively engaged with the relevant regulators regarding their pending applications. As previously announced, Genworth and Oceanwide extended their merger agreement to January 31, 2019 to provide additional time for regulatory review of the transaction.

16:12 EDT Churchill Downs completes acquisition of Presque Isle Downs & Casino - Churchill Downs (CHDN) announced that it has completed the previously announced purchase of Presque Isle Downs & Casino in Erie, Pennsylvania from Eldorado Resorts (ERI) for cash consideration of $178.9M, subject to certain working capital and other purchase price adjustments. The purchase of the property follows the approval of the transaction by the Pennsylvania Gaming Control Board and the Pennsylvania State Horse Racing Commission. The transaction was funded with cash on hand and through the Company's existing credit facility.

16:11 EDT Buenaventura announces three-day work stoppage at mine - Buenaventura announced that the Contractors' Union at Buenaventura's Uchucchacua mine initiated a strike on January 9. The Contractors' Union claims "unsuitable working conditions" and has also expressed grievances due to Buenaventura's dismissal of certain contracted employees at the Uchucchacua mine, due to the company's conclusion of some services required by contractor companies. The Peruvian Labor Authority has declared this strike illegal. Buenaventura will continue to provide updates on related developments or changes as they occur.

16:09 EDT Bioblast Pharma receives non-compliance notice from Nasdaq - Bioblast Pharma announced that it received a written notification from the listing qualifications department of the Nasdaq Capital Market notifying the company that Nasdaq has determined that Bioblast's stockholders' equity does not comply with the minimum $2.5M stockholders' equity requirement for continued listing on Nasdaq, as set forth in Nasdaq listing rule 5550. The Nasdaq notification does not affect the listing of the company's ordinary shares at this time. The notification provides the company has until February 22, or 45 calendar days from the date of the notification, to submit to Nasdaq a plan to regain compliance with Nasdaq Listing Rule 5550. The company currently anticipates timely submitting such a plan to Nasdaq. If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the notification for the company to provide evidence of compliance. If the plan is not accepted or the company is not granted an extension, Nasdaq staff could provide notice that the company's ordinary shares will become subject to delisting. In such event the company may appeal the decision to reject its proposed compliance plan or any delisting determination to a Nasdaq Hearings Panel.

14:42 EDT Visa names Square's Mary Kay Bowman Head of Seller Solutions - Visa (V) announced that Mary Kay Bowman will join the company as its new Head of Seller Solutions. "In this role, Mary Kay will lead Visa's strategy for acceptance products and solutions, driving the design, development and delivery of new services and solutions that will transform the payment experience for both sellers and consumers," the company said in a statement. "This is a critical role, as the point of sale is undergoing dramatic change as it shifts from traditional payment acceptance to digital, cross-channel payment experiences." Bowman will join Visa from Square (SQ), where she served as head of payments, according to media.

13:22 EDT Netflix off highs after Citron says shares going back to $300 - Shares of Netflix (NFLX) are off their highs after Andrew Left's Citron Research predicted on Twitter that the stock is going back to $300. The streaming service in midday trading remains up 4%, or $12.47, to $337.13. Netflix's market capitalization has jumped $45B in the last 12 days, Citron points out. That's equal to 12 DreamWorks, 12 Lionsgate's (LGF.A, LGF.B), 10 Roku's (ROKU), and 5 Hulu's, the short selling research firm said on Twitter.

13:01 EDT Perrigo rallies after Bloomberg says Irish expansion may be shelved - Shares of Perrigo are moving higher after Bloomberg's Cristin Flanagan and Dara Doyle reported that the company is considering shelving its plans in expand in Ireland. Following a $1.8B tax liability from Irish authorities, Perrigo is reviewing its plans to add jobs in Dublin, a source familiar with the matter told the reporters. Shares of the drugmaker are up 3%, or $1.16, to $45.06 following the report.

12:47 EDT Perrigo up 3% after Bloomberg says company may shelve Irish expansion

12:00 EDT American Realty Investors falls -7.8% - American Realty Investors is down -7.8%, or -99c to $11.76.

12:00 EDT Aurora Cannabis rises 9.0% - Aurora Cannabis is up 9.0%, or 54c to $6.48.

12:00 EDT Pyxus rises 15.9% - Pyxus is up 15.9%, or $2.10 to $15.27.

11:42 EDT Phunware Inc trading halted, volatility trading pause

10:25 EDT Bandera Partners urges Luby's stockholders to vote for its board nominees - Bandera Partners issued the following statement and letter to stockholders. "Luby's underperforming Board of Directors, which has overseen an 84% stock price collapse in the five years leading up to Bandera's nomination letter, yesterday sent a letter to stockholders filled with falsehoods and inaccuracies. The incumbent Board specifically targeted Bandera Portfolio Manager Jeff Gramm, who today sent the following letter to Luby's stockholders, setting the record straight and asking for your support by voting the GOLD Proxy to improve and refresh the Board of Directors." The letter read, in part, "As Luby's January 25th Annual Stockholder Meeting approaches, I want to thank every owner that has taken time to consider Bandera's minority slate of nominees to the Board of Directors. By my estimates, I have recently interacted with owners of 68% of the Luby's shares not controlled by Bandera or the incumbent Board. I'm grateful for the outpouring of support for our message that Luby's poor stewardship of your capital necessitates immediate change to the Board of Directors. In the coming weeks, I look forward to speaking with the rest of you. Whether you side with our slate or not, this is what shareholder democracy is about-bringing power to shareholders to seek change if they believe it is warranted. If our minority slate is elected, this will be a historic win that sends a message to all public company investors that their vote can make a difference. Yesterday, Luby's incumbent Board published a letter asking you to reject Bandera's nominees, and let the Company continue down its worn path of value destruction. I was disturbed by the distortions and falsehoods leveled at our slate. In a desperate attempt to distract your attention from the Company's prolonged, dismal performance, the incumbent Board has embraced the politics of destruction with a barrage of personal attacks on our accomplished nominees. This is a cynical tactic that smacks of desperation, and, in my opinion, it will not sway Luby's stockholders... In the end, YOU are the owners of the company and the arbiters of this dispute. Whether you are a retail owner of 50 shares or a large institutional fiduciary with trillions of dollars under management, your vote counts! I encourage you to ignore all of Luby's distracting personal attacks and focus on the facts. The incumbent Luby's Board has sunk hundreds of millions of dollars of your capital into the Luby's and Fuddruckers restaurant concepts with disastrous returns. They have sold valuable real estate and burdened the company with a large and expensive debt load that will necessitate future property sales. Year after year, Luby's Board has failed to live up to its promises to turn the company around, and the value of your investment shrinks and shrinks."

10:13 EDT Borqs Technologies Inc trading halted, volatility trading pause

10:09 EDT GM CEO says able to provide new jobs to most workers impacted by Nov. cuts - General Motors CEO Mary Barra says the company has the right factors in place to create shareholder value regardless of external factors impacting industry. Says entering 2019 leaner and more agile. Says sold more than 1M crossovers in the U.S. alone in 2018. Says China market well positioned for long-term growth, adds that China will launch 20 new or refreshed models in 2019. Says "a number of" systemic industry issues that must be confronted. "Time is not our friend" she added. Says able to offer 2,700 positions to the 2,800 impacted U.S. employees by November restructuring. GM is up 8.4% to $37.66 in morning trading. Comments taken from GM's Capital Markets Day presentation.

10:00 EDT Autohome falls -9.8% - Autohome is down -9.8%, or -$8.08 to $74.51.

10:00 EDT Vail Resorts falls -10.4% - Vail Resorts is down -10.4%, or -$22.37 to $192.26.

10:00 EDT General Motors rises 7.9% - General Motors is up 7.9%, or $2.75 to $37.48.

09:52 EDT Sea Limited named 2019 best idea by Kerrisdale - At Best Ideas 2019, an event hosted by MOI Global, Kerrisdale Capital Management Chief Investment Officer Sahm Adrangi will present Sea Limited as the firm's idea, according to a slide presentation prepared for the event. Reference Link

09:47 EDT Autohome falls -11.2% - Autohome is down -11.2%, or -$9.28 to $73.31.

09:47 EDT PVH Corp. rises 6.1% - PVH Corp. is up 6.1%, or $6.03 to $104.97.

09:47 EDT Synnex rises 8.3% - Synnex is up 8.3%, or $7.17 to $94.00.

09:44 EDT Caesars rallies after CNBC says Carl Ichan building stake - Shares of Caesars Entertainment are moving after CNBC's David Faber reported billionaire Carl Icahn is building a stake in the name, according to his sources The stock in early trading is up 7%, or 57c, to $8.56. Golden Nugget Casinos owner Tilman Fertitta remains interested in pursuing a deal for Caesars after his takeover bid was rejected, Faber added.

09:21 EDT CDW to acquire Scalar Decisions, terms not disclosed - CDW announced its agreement to acquire Scalar Decisions, a technology solutions provider in Canada with locations across the country and trailing 12-month net sales of approximately C$250M. Scalar was founded in 2004 and has almost 350 coworkers serving customers across Canada. With a solutions-based approach and a reputation for solving complex technology challenges, Scalar will enhance CDW Canada's technical capabilities and expertise in areas such as professional and managed services, infrastructure, security and cloud. The acquisition is expected to close in first quarter 2019, pending regulatory approvals. Until the deal is complete, the companies will continue to operate separately. Terms of the transaction were not disclosed. Scalar is not expected to have a material impact on CDW's 2019 non-GAAP earnings per share.

09:13 EDT Fly Intel: Pre-market Movers - HIGHER: Tilray (TLRY), up 18% after Privateer Holdings issued a statement emphasizing it does not have plans to register, sell or distribute the 75M shares that it owns in the company... Flotek (FTK), up 1111% after announcing it will sell Florida Chemical to Archer Daniel Midlands (ADM) for $175M and plans to use some of the proceeds on organic growth capital projects... Embraer (ERJ), up 6% after announcing Brazil government approval for Boeing (BA) merger... Netflix (NFLX), up 2% after Raymond James analyst Justin Patterson upgraded the stock to Strong Buy from Outperform and UBS analyst Eric Sheridan also upgraded the stock to Buy from Neutral... AB InBev (BUD), up 3% after Reuters reports speculation about its Asia business IPO. LOWER: Activision-Blizzard (ATVI), down 8.5% after announcing Bungie will receive Destiny franchise publishing rights... PG&E (PCG), down 6% after Moody's cut its bond rating to junk... Starbucks (SBUX), down 3% after after Goldman Sachs analyst Karen Holthouse downgraded shares to Neutral and lowered her price target for the stock to $68 from $75... Gap (GPS), down 3% after Barclays analyst Chethan Mallela double downgraded the stock to Underweight from Overweight and cut his price target for the shares to $25 from $33. The analyst believes "challenging" traffic trends and "difficult" comparisons cloud visibility into the company's sales growth momentum... WW (WTW), down 5% after JPMorgan analyst Christina Brathwaite downgraded WW, formerly known as Weight Watchers, to Neutral and lowered her price target for the shares to $37 from $70. The analyst's early in the year channel checks point to a weak start to 2019 for the company... Yum! Brands (YUM), down 3% after Goldman Sachs' Holthouse downgraded the stock to Sell and lowered her price target for the shares to $76 from $83. The company's "peak valuations versus the market" are "overly dismissive of a number of risks," Holthouse tells investors.

09:07 EDT D.E. Shaw Group says 'disappointed' in EQT's management, supports Rice team - D. E. Shaw & Co. sent a letter to the Board of Directors of EQT expressing its support for the Rice Team and its concerns regarding recent statements made and actions taken by EQT. The letter read, in part: "I am writing to you on behalf of certain investment funds advised by D. E. Shaw & Co., L.P. We have been shareholders of EQT Corporation for over three years and today own over 4.5% of the Company, because we believe in the significant potential of the asset base. Like many shareholders, we have been disappointed in the current management's poor execution and are excited about the prospect of Toby Rice and the Rice Team returning to lead the Company and deliver the performance improvements shareholders deserve. We support the Rice Team because they are seasoned operators with a proven track record of delivering peer-leading results on the exact assets that EQT owns today. Our sentiment appears to be widely held among shareholders; Tudor Pickering Holt & Co. recently wrote that there was "near unanimous support for the Rice Proposal"1 and EQT's former CEO publicly stated that he "agree[s] fully with the Rice plan" and that "[...] Toby Rice is a true operator and the best person to help the company capture the full value of the asset base." We hope the Board will engage constructively with the Rice Team and reach a resolution. Unfortunately, management's January 7th letter announcing a "New EQT" is little more than an announcement of layoffs. Despite using the word "new" fourteen times in the letter, the truth is that all management positions are filled by legacy EQT employees who have been promoted to their respective roles despite bearing responsibility for the execution mishaps to date and the Chairman of EQT has been on the Board for 23 years...We are also concerned that the Company is laying off over 100 employees without first receiving input from the Rice Team. Given what has occurred to date and the context of the ongoing discussion between the Company and the Rice Team, we believe it is only appropriate that EQT refrains from making any other decisions regarding future strategy until a resolution is reached with the Rice Team. If a constructive resolution isn't reached swiftly, then the answer is simple: let shareholders vote. For decades, EQT has held its annual meeting in April. It was only moved to June last year to allow shareholders time to hear the results of the committee findings on whether the company would spin off its midstream business. The meeting should be held in April this year as it traditionally has been - especially given the urgent matters facing the Company. We continue to believe in the potential of EQT. But all of the Company's stakeholders deserve better."

09:05 EDT Landec changes food business name to Curation Foods - Landec announced that it is changing the name of its food business from Apio to Curation Foods to signify the completion of its strategic transition from a fresh packaged vegetable company to a branded, natural foods company. Curation Foods will serve as the corporate umbrella for a portfolio of five natural food brands, including its flagship brand Eat Smart packaged fresh vegetables and salad kits, as well as four emerging natural food brands, consisting of O Olive Oil & Vinegar premium artisan products, Now Planting pure-plant meal solutions and Yucatan and Cabo Fresh authentic guacamole and avocado products.

09:04 EDT General Motors sees FY19 overall U.S. market to 'remain strong' - In 2019, despite a declining car market, GM expects the overall U.S. market to remain strong, projecting total industry sales in the low 17M range. The company will benefit from a full year of volume from GM's all-new Chevrolet Silverado and GMC Sierra light-duty full-size pickups. The trucks have contributed to retail market share growth in the lightduty pickup segment every month since August, with average transaction prices that have surpassed those of key competitors.

09:02 EDT Generex subsidiary Olaregen plans launch of Excellagen with three dosage options - Generex Biotechnology Corporation announced that Olaregen Therapeutix, a subsidiary of Generex Biotechnology will launch three doses of FDA 510K-Cleared Excellagen, the company's wound conforming gel matrix that is designated as a Cellular & Tissue Based Product or CTP for wound healing. The 0.5 cc and a 0.8 cc syringes will be utilized to treat smaller wounds such as diabetic foot ulcers, venous stasis ulcers, and pressure ulcers, and in patients who have undergone MOHs surgery for removal of cancerous tissue. The 3 cc syringe has been developed for larger wounds that are most frequently seen in emergency departments, operating rooms, and surgical suites. Excellagen has a designated reimbursement code in the Healthcare Common Procedure Coding System, with a unique Q Code designation 4149 referred to as a skin substitute. The Excellagen launch team is introducing the product in surgical centers, the Department of Defense and VA system, operating rooms, and wound care centers, as well as through podiatric practices. The company is currently in contract negotiations with major nation-wide surgical wound care centers for the use of Excellagen for the treatment of a variety of wound types, including partial and full thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, tunneled/undermined wounds, surgical wounds, trauma wounds and draining wounds. Additionally, NuGenerex Distribution Solutions, a wholly-owned subsidiary of Generex, will immediately launch Excellagen through its MSO network of surgeons and podiatrists in five states.

08:41 EDT Moody's downgrades Pacific Gas & Electric to Ba3, PG&E Corp. to B2 - Moody's Investors Service on Thursday downgraded the ratings of Pacific Gas & Electric Company, including its senior unsecured rating to Ba3 from Baa2 and its short term rating for commercial paper to Not Prime from Prime-2. Moody's also downgraded PG&E's holding company, PG&E Corporation, including its senior unsecured rating to B2 from Baa3 and its short term rating for commercial paper to Not Prime from Prime-3. At the same time, Moody's assigned a Ba3 Corporate Family Rating, a B1-PD Probability of Default rating and an SGL-3 Speculative Grade Liquidity Rating. Ratings of PCG and PG&E remain on review for downgrade. "We see a much more challenging environment for PG&E, as potential liabilities grow, liquidity reserves decline and access to capital becomes more uncertain," said VP-Senior Credit Officer, Jeff Cassella. "The company is increasingly reliant on extraordinary intervention by legislators and regulators, which may not occur soon enough or be of sufficient magnitude to address these adverse developments," added Cassella.

08:37 EDT Constellation Brands elects incoming CEO Bill Newlands to board - Constellation Brands announced the election of Bill Newlands, president and COO, and incoming CEO of Constellation, to serve as a member of its board of directors, effective March 1, on which date the size of Constellation's board will increase from 12 to 13 members.

08:34 EDT Coty appoints Pierre-Andre Terisse as CFO - Coty (COTY) announced a series of executive leadership changes to support its ongoing transformation and future growth. First, Pierre-Andre Terisse has been appointed CFO and a member of the Executive Committee, effective February 1, 2019. Pierre-Andre has nearly 30 years of public company finance experience, including in business turnarounds, treasury and finance integration. He spent the majority of his career at Danone (DANOY), most notably as Group CFO of Danone for seven years. Pierre-Andre will be based in London. Second, Pierre Laubies, Coty's CEO, will assume leadership for the formulation and implementation of the strategic vision for the Consumer Beauty division. He will be supported by Gianni Pieraccioni who joins Coty as COO, Consumer Beauty, and as a member of the Executive Committee, effective January 14, 2019. Gianni will lead the Consumer Beauty in-market organization, e-commerce and supply chain, focusing on commercial operations and will be based in New York. He served as President, Revlon Consumer Division and served as COO of Revlon (REV) until 2017. In connection with the continuing transformation of Consumer Beauty, Laurent Kleitman has decided to pursue other opportunities and will be leaving Coty. Third, Luc Volatier has been appointed chief global supply officer and a member of the Executive Committee, effective January 14, 2019, and will be based in Geneva. Luc joins Coty from Jacobs Douwe Egberts where he served for seven years as EVP Operations with responsibility for Supply and R&D. He will be replacing Mario Reis, who is departing his position as chief global supply officer. Finally, Esra Erkal-Paler, chief corporate affairs officer, has decided to leave Coty to pursue other opportunities. As a result, the Corporate Affairs function will be integrated into Coty's three divisions and functions.

08:31 EDT Tempur Sealy to provide DIP financing to Innovative Mattress Solutions - Tempur Sealy has agreed, subject to bankruptcy court approval, to provide debtor-in-possession financing to Innovative Mattress Solutions in connection with iMS' Chapter 11 bankruptcy filing. The company has agreed to provide up to $14M in DIP financing to facilitate iMS' bankruptcy process, which iMS has indicated will include optimizing its portfolio of retail locations, and is anticipated to be completed during the first half of 2019. iMS operates 142 specialty sleep retail locations primarily in the southeastern U.S. under the names Sleep Outfitters, Mattress Warehouse, and Mattress King. For the year ended December 31, 2018, iMS represented less than 2% of the company's global net sales. As a result of the iMS bankruptcy, the company will record a charge of approximately $21M during the fourth quarter of 2018 to fully reserve this account, which will be excluded from adjusted EBITDA as a pro forma adjustment under the company's senior secured credit agreement.

08:20 EDT Fox does not intend to bid for any regional sports networks Disney may sell - In a regulatory filing, Fox Corporation, a wholly-owned subsidiary of Twenty-First Century Fox (FOXA), disclosed that it intends to commence preliminary discussions with investors in connection with a potential financing consisting of senior unsecured notes. The net proceeds of the notes offering will be principally used to partially fund the dividend payment to the company in the amount of $8.5B in accordance with the amended and restated agreement and plan of merger with Disney (DIS). In connection with these preliminary discussions, Fox confirms that it does not intend to bid for any of the Fox regional sports networks that Disney, or any entity operating on its behalf, may sell as required by the consent decree with the U.S. Department of Justice, the filing stated.

08:14 EDT Accenture says no change to outlook for Q2, FY19 - Accenture confirmed that there is no change to the business outlook for the second quarter and full fiscal year 2019 that the company provided as part of its first quarter fiscal 2019 earnings announcement on December 20, 2018. At the time, the company forecast Q2 revenue $10.2B-$10.4B and narrowed its FY19 EPS view to $7.01-$7.25. The company also narrowed its FY19 revenue growth guidance to 6%-8%. Analysts currently expect Q2 revenue of $11.05B, FY19 EPS of $7.23 and FY19 revenue of $42.96B.

08:10 EDT L3, Harris still expect merger to close mid-calendar year 2019

08:10 EDT Puma Biotechnology, Knight Therapeutics enter into license agreement for NERLYNX - Puma Biotechnology announced that it has entered into an exclusive License Agreement with Knight Therapeutics that grants Knight the exclusive right to commercialize NERLYNX in Canada. Puma Biotechnology filed a new drug submission for NERLYNX with Health Canada in July 2018 for the extended adjuvant treatment of adult patients with early stage HER2-overexpressed/amplified breast cancer following adjuvant trastuzumab-based therapy. Under the terms of the License Agreement, Knight will be responsible for all commercial activities and future regulatory submissions for NERLYNX in Canada. Puma will receive upfront and milestone payments up to $7.2M throughout the term of this agreement, as well as double digit royalties on net sales of NERLYNX in Canada. Neratinib was approved by the U.S. Food and Drug Administration in July 2017 for the extended adjuvant treatment of adult patients with early stage HER2-positive breast cancer following adjuvant trastuzumab-based therapy, and is marketed in the United States as NERLYNX tablets.

08:08 EDT Harris County, Texas selects Everbridge for mass notification system - Everbridge announced that Harris County is the latest public safety agency in Texas to power its public alert system with the state-of-the-art Everbridge platform. The Harris County Office of Homeland Security & Emergency Management has selected Everbridge as the new mass notification service provider for its Harris County Alerts system which will now be known as Ready Harris Alerts. The Everbridge platform can send messages via text, email, mobile app, voice calls, TTY/TDD, and social media, among other communications modalities, for reaching the public. Everbridge solutions also allow for targeted messaging that can either be sent countywide or solely to areas directly affected by a particular event.

08:08 EDT Manning & Napier reports preliminary AUM $20.2B as of December 31 - The company announced that preliminary December 31, 2018 assets under management were $20.2B, which included approximately $13.8B in separately managed accounts and approximately $6.4B in mutual funds and collective investment trusts.

08:06 EDT Pioneer Power receives $2.6M order from data center customer - Pioneer Power announced that the company secured a new order from an existing customer valued at approximately $2.6M for highly customized magnetic coils to be integrated into its Power Distribution Unit product line for installation in new data centers. Deliveries are expected to begin during the first quarter of 2019, with the entirety of the order scheduled to be delivered by the end of the year.

08:05 EDT Legg Mason reports preliminary AUM approximately $727.2B as of December 31 - This month's AUM included net long-term outflows of $6.3B, driven by net outflows in fixed income of $4.9B and equities of $1.5B, partially offset by alternative inflows of $0.1B. Liquidity net inflows were $4.4B and this month's AUM included a positive foreign exchange impact of $0.3B.

08:04 EDT Vail Resorts reports certain ski season to date metrics for period ended Jan. 6 - Vail Resorts reported certain ski season metrics for the comparative periods from the beginning of the ski season through January 6, 2019, and for the prior year period through January 7, 2018. The reported ski season metrics are for our North American mountain resorts, and the metrics exclude results from Perisher and our urban ski areas in both periods. The data mentioned in this release is interim period data and is subject to fiscal quarter end review and adjustments. Season-to-date total lift ticket revenue at the company's North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 12.2% compared to the prior year season-to-date period. Season-to-date ski school revenue was up 9.5% and dining revenue was up 14.8% compared to the prior year season-to-date period. Retail/rental revenue for North American resort store locations was up 12.0% compared to the prior year season-to-date period. Season-to-date total skier visits for the company's North American mountain resorts were up 16.9% compared to the prior year season-to-date period. CEO Katz continued, "Primarily as a result of missing our expectations in the pre-holiday period, we now expect full year Resort Reported EBITDA guidance to be slightly below the low end of the guidance range we issued on September 28, 2018. Our guidance assumes normal conditions at our resorts, a stable economic environment and the currency rates in place when the guidance was originally issued."

08:02 EDT Endologix reports inducement grants under Nasdaq listing rule - Endologix announced the grant of inducement equity awards to a newly hired executive. The awards were approved by the Company's Compensation Committee, which is comprised of independent Directors, on December 10, 2018, as an inducement material to the Awardee's entry into employment with the Company, as permitted under NASDAQ Listing Rule 5635(c)(4). The inducement grants to the Awardee consisted of options to purchase up to an aggregate of 250,000 shares of the Company's common stock, par value $0.001 per share, at an exercise price of 64c per share, and 150,000 restricted stock units. The date of grant for the awards was January 7, 2019. The exercise price of the Options is equal to the closing price per share of Common Stock as reported by NASDAQ on January 7, 2019. One-third of the shares subject to the Options shall vest on the first anniversary of the grant date, with the remaining shares vesting in twenty-four equal, consecutive, monthly installments as measured from the first anniversary of the grant date. The RSUs shall vest in three equal, consecutive, annual installments as measured from the grant date.

07:38 EDT Ollie's Bargain Outlet says it paid off the remaining balance of $19M term loan

07:36 EDT Chico's announces fleet optimization plan, expanded review of operations - The company has made significant progress in developing an integrated omnichannel platform with advanced capabilities to modernize, digitize and personalize the customer experience. Important investments in technology, including a shared inventory system, endless aisle, Client Book and BOPIS have been made. The company has also forged key partnerships with ShopRunner, Amazon and QVC. As a result, the company now has the technology and tools in place to capture and stay connected with its eight million customers in new ways, whether in-store, online or virtually, and to fully activate its omnichannel strategy. As such, the company has made the strategic decision to rebalance the mix between its physical store presence with its digital network and to close at least 250 stores in the U.S. over a three-year period. This will allow the company to take advantage of its lease expiration cadence, while improving profitability and return on invested capital. Closings will be across the three brands and weighted to years two and three. Building upon management's strategic decision to right-size its fleet, the company has commenced a comprehensive review of its operations to ensure that the business is structured for innovation, agility and speed. With constantly changing customer needs and shopping patterns, the company is committed to enhancing its effectiveness and efficiency to better meet her expectations and drive profitable growth. The company has a long record of strong cost management, and this comprehensive review will further include an assessment of SG&A expenses and business processes across the entire organization.

07:32 EDT Ollie's Bargain Outlet reports holiday sales up 16.6% - Ollie's Bargain Outlet commented on its holiday sales ahead of its participation at the 2019 ICR Conference. For the nine-week period ended January 5, total sales increased 16.6%, with a comparable store sales increase of 7.1%.

07:09 EDT Aphria: Co-founder Cacciavillani, CEO Vic Neufeld to transition out of roles - Aphria CEO Vic Neufeld, and Co-founder Cole Cacciavillani, are both nearing the end of their five-year journey with the company and will transition out of their executive roles over the coming months but remain on the Board. Working closely with Irwin D. Simon, Aphria's recently appointed independent Chair, and President Jakob Ripshtein, Neufeld and Cacciavillani intend to complete a smooth and responsible transition to a globally-minded executive leadership team for the long-term benefit of the company's patients, shareholders, customers, and employees. The Board has requested that, following the transition, Neufeld and Cacciavillani continue to apply their knowledge and expertise as special advisors to both the Chair and the President, ensuring a smooth transition of institutional experience and strategic advice until a new CEO is appointed.

07:05 EDT JetBlue expects Q4 RASM to increase approx. 2.4% y-oy - Fourth quarter revenue per available seat mile is expected to increase approximately 2.4% year-over-year. This is consistent with our prior guidance range of 1.5% to 3.5%. December revenue trends performed as expected. Higher than expected completion factor negatively impacted fourth quarter RASM by approximately 0.3 points.

07:04 EDT JetBlue reports preliminary December traffic up 6.8% - JetBlue Airways Corporation reported its preliminary traffic results for December 2018. Traffic in December increased 6.8% from December 2017, on a capacity increase of 8.5%. Load factor for December 2018 was 81.4%, a decrease of 1.3 points from December 2017. JetBlue's preliminary completion factor for December 2018 was 99.8% and its on-time performance was 74.5%

07:02 EDT Privateer Holdings does not plan to register, sell Tilray shares in 1H19 - Privateer Holdings issued the following statement, strongly emphasizing that it does not have plans to register, sell or distribute the 75M shares that Privateer owns in Tilray when the lock-up expires next week. Statement from Michael Blue, Managing Partner of Privateer Holdings, in response to market speculation regarding its Tilray shareholding: "Privateer Holdings strongly believes in Tilray's long-term global growth strategy and pioneering role in shaping the future of the legal cannabis industry. Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019. When we decide to distribute shares, we will do so in an orderly and deliberate manner to maximize tax-efficiency considerations for Privateer investors, while also taking into consideration potential impacts on Tilray's public float. And we will do it in a way that reflects our long-term confidence in Tilray's business model and management team."

06:47 EDT Flotek Industries to sell Florida Chemical to ADM for $175M in cash - Flotek Industries (FTK) announced it has entered into a definitive agreement to sell Florida Chemical Company, its Consumer and Industrial Chemistry Technologies segment, to Archer Daniels Midland Company (ADM) for total consideration of $175M in cash, subject to post-closing working capital and other adjustments. With this transaction, Flotek has established itself as a leading specialty chemistry provider of custom, full-fluid solutions to the upstream oil and gas industry. Flotek will retain all of its patents. In connection with the sale of FCC, Flotek and ADM have entered into long-term reciprocal supply agreements. The first will secure Flotek's long-term supply of d-limonene. Additionally, Flotek will manufacture differentiated chemistries for Florida Chemical's industrial customers. Finally, the companies will explore opportunities to jointly develop next-generation chemistry technologies for the oil and gas and agricultural industries. The closing of the transaction is expected during the first quarter of 2019 and is subject to customary closing conditions, including obtaining necessary approval related to the Hart-Scott-Rodino Act. Flotek anticipates that the transaction will have a negligible cash tax effect, as the gain on this sale should be substantially offset by the company's outstanding net operating losses.

06:35 EDT DPW Holdings announces update on corporate realignment - DPW Holdings announced that it has completed establishing DPW Financial and DPW Technologies, both Delaware corporations, as previously announced on November 6, 2018. DPW anticipates aggregating all reporting by its subsidiaries and business units through these two new subsidiaries, starting as early as Q1. This realignment will set the stage for other initiatives by the company in 2019 and beyond. DPW Technology will focus on advanced technology, design, power solutions and manufacturing businesses in defense, aerospace, telecom, medical, and textiles and will include Coolisys Technologies, Digital Power, Microphase Corporation, Enertec Systems, Digital Power Limited, and Power-Plus Technical Distributors. Milton Ault will serve as the interim CEO, and William Horne as the new subsidiary's CFO. DPW Technology intends to hire a CEO to provide leadership during the IPO and to develop and execute future growth strategies. DPW Financial will focus on lending, cryptocurrency mining, hospitality, and real estate and includes Digital Power Lending, IAM and Super Crypto Mining. Darren Magot will serve as the CEO and Kenneth Cragun as the CFO.

06:06 EDT Ford-backed transportation startup Chariot shutting down - Chariot, the Ford-owned transportation startup that operates commuter shuttle services in nine North American cities and internationally in London, is shutting down, the company said in a blog post. "Friday, January 25th is the last day we will offer service on commuter routes in the U.K., and Friday, February 1 will be the last day we will offer service on our commuter routes in the U.S. We will cease all operations across the US and in the UK by the end of March. In today's mobility landscape, the wants and needs of customers and cities are changing rapidly. We apologize for the inconvenience this may cause Chariot's riders and our enterprise customers. We are committed to ensuring our customers are aware of the decision and have time to make alternative transportation arrangements." Reference Link

06:02 EDT IDC: Shipments of PCs totaled just over 68.1M units in Q4, down 3.7% y/y - Preliminary results for the fourth quarter of 2018 showed shipments of traditional PCs totaled just over 68.1 million units, marking a decline of 3.7% in year-on-year terms, according to the International Data Corporation Worldwide Quarterly Personal Computing Device Tracker. The results slightly outperformed the forecast, which called for a decline of 4.7%, but also produced the largest year-on-year decline since the third quarter of 2016 and capped the full year at a nearly flat rate of -0.4%. Lenovo (LNVGY) maintained its status as the top OEM in the traditional PC space, and one of only two top 5 companies to post growth in the quarter compared to a year ago. HP Inc. (HPQ) declined 3.2% worldwide mostly due to a challenging quarter in the Americas. Dell Inc. (DELL) had the strongest year-on-year growth among the top OEMs at 1.6% for the quarter and ended 2018 growing 5.6% over 2017, also the strongest among the top OEMs. Apple (AAPL) remained in the fourth position with market share of 7.2% and year-on-year growth of -3.8%.