Stockwinners Market Radar for January 17, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:56 EDT Aratana Therapeutics names Craig Tooman as CEO - Aratana Therapeutics announced that the company's board has appointed Craig Tooman to serve as President and Chief Executive Officer of Aratana, and elected Tooman to the Board of Directors. Effective January 17, 2019, Steven St. Peter, M.D. has resigned from the role of President and Chief Executive Officer and from the Board of Directors of Aratana. The board thanks him for his six years of service as CEO and wishes him the very best on his return to venture capital.

19:47 EDT Tribune Publishing names Timothy Knight CEO and David Dreier as board chairman - Tribune Publishing announced that its board has appointed Timothy P. Knight as Chief Executive Officer and David Dreier as Chairman of the Board. Knight will also join the Board of Directors and succeeds Justin Dearborn who has stepped down as Chairman and Chief Executive Officer. Timothy Knight joined Tribune Publishing Company in February 2017 and most recently has had responsibility for all of the Company's local market operations. David Dreier has been a director of Tribune Publishing since June 2016.

18:54 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: Bank OZK (OZK), up 15.1%... Altassian (TEAM), up 9.8%... J.B. Hunt (JBHT), up 5.6%. ALSO HIGHER: Gulfport Energy (GPOR), up 4.9% after it announced a new $400M stock buyback... Jacobs Engineering (JEC), up 0.8% after announcing a $1B share repurchase authorization and increasing its quarterly dividend 13%. DOWN AFTER EARNINGS: Progress Software (PRGS), down 10.8%... Netflix (NFLX), down 3.7%... American Express (AXP), down 1.9%. ALSO LOWER: Nautilus (NLS), down 33.7% after its provided downbeat Q4 guidance and said it is embarking on an "aggressive cost-containment program"... Casa Systems (CASA), down 23.5% after providing downbeat Q4 guidance and narrowing its fiscal 2018 guidance.

18:33 EDT Acorda says secondary endpoints supportive of primary endpoint in INBRIJA trial - Acorda Therapeutics announced that The Lancet Neurology published results from SPANSM-PD, the Phase 3 pivotal efficacy trial of INBRIJA, also referred to as CVT-301. In the study, INBRIJA 84 mg significantly improved motor function at 30 minutes during OFF periods in people with Parkinson's taking carbidopa/levodopa, the study's primary endpoint. Onset of action was seen as early as 10 minutes and the reduction at 30 minutes was maintained at 60 minutes. Multiple secondary endpoints were supportive of the primary endpoint. Data from the study were first presented at the 2017 International Congress of Parkinson's Disease and Movement Disorders. "A well-tolerated, effective treatment for OFF periods between doses of scheduled medications can help fulfill one of the most important unmet needs for people with Parkinson's," said lead author of the publication Peter LeWitt, M.D., Director of the Parkinson's Disease and Movement Disorders Program at Henry Ford Hospital and professor of neurology at Wayne State University School of Medicine. "The data published in The Lancet Neurology support INBRIJA as such a treatment option, delivering levodopa, the current 'gold standard' of Parkinson's treatment, in a novel, inhaled form."

18:32 EDT Netflix says targeting 13% FY19 operating margin - Says not overly dependent on any one kind of content for views.

18:26 EDT Kirkland Lake Gold CEO: 'Growing production at higher grades, lower unit costs' - In an interview on CNBC's Mad Money, Kirkland Lake Gold CEO Tony Makuch said: "We're growing production at higher grades, lower unit costs... We're on the cusp of a great new discovery in our Australian mine... We continue to grow cash flow and production."

18:24 EDT FDA advisory committee votes on Zynquista as treatments for adults with diabetes - The Endocrinologic and Metabolic Drugs Advisory Committee of the U.S. Food and Drug Administration voted eight to eight on the question of whether the overall benefits of Zynquista outweighed the risks to support approval. Sotagliflozin is an investigational oral dual SGLT1 and SGLT2 inhibitor under regulatory review as an adjunct to insulin for the treatment of adults with type 1 diabetes. While the FDA is not required to follow the committee's vote, the agency considers the committee's recommendations when making its decision, which is anticipated by March 22, 2019. Sotagliflozin, developed by Sanofi (SNY) and Lexicon (LXRX), has the potential to be the first oral antidiabetic drug approved in the United States together with insulin therapy to improve glycemic control in adults with T1D.

18:21 EDT Netflix says earns 10% of TV screen time in U.S. - Netflix (NFLX) said that in the U.S., it earns around 10% of TV screen time and less than that of mobile screen time. In other countries, it earns a lower percentage of screen time due to lower penetration. "We earn consumer screen time, both mobile and television, away from a very broad set of competitors," Netflix said in its letter to investors. "We compete with (and lose to) Fortnite more than HBO (T)." Investors in Epic Games, which makes "Fortnite," include Tencent (TCEHY), KKR (KKR), and Disney (DIS).

18:09 EDT Netflix says paid membership growth in Q4 'really broad-based' - Says internet entertainment market is growing. Says continuing to fulfill a need in the internet entertainment market. Says strength in paid membership growth in Q4 was "really broad-based." Says content like "Bird Box" and "You" are performing "incredibly well" globally. Says local language shows perform very well in their home countries but also tend to play well globally. Comments taken from Q4 earnings conference call.

17:56 EDT Atlassian rises 8.7% after Q2 earnings, FY19 outlook - Stock price of Atlassian is up over $8 or 8.7% afterhours at $101 per share following the company's Q2 earnings beat. Atlassian also raised its FY19 EPS and revenue guidance.

17:44 EDT Jacobs sees sale of energy, chemicals business closing in first half of year - Jacobs continues to expect the sale of its Energy, Chemicals and Resources business to close in the first half of calendar year 2019. Jacobs Chair and CEO Steve Demetriou said, "Upon the closing of the Energy, Chemicals and Resources sale, we will gain substantial balance sheet capacity for meaningful capital deployment. In that regard, we will remain disciplined to achieve risk-adjusted returns with the objective of maximizing shareholder value."

17:41 EDT Jacobs Engineering announces $1B share repurchase authorization - The Jacobs board approved a $1B incremental share repurchase authorization. Since December 2018, the company has repurchased approximately $184M of the remaining $247M authorization and is continuing to make repurchases under its previously approved plan. The company's announced $1B share repurchase program has a 3-year maximum authorized duration.

17:22 EDT Signia Capital takes 6.9% passive stake in Papa Murphy's - Signia Capital disclosed a 6.9% passive stake in Papa Murphy's. The stake represents over 1.17M shares. The filing with the SEC does not allow for activism.

17:11 EDT Bright Scholar names Junli He executive vice chairman, Derek Feng CEO - Bright Scholar Education announced the promotion of Junli He to Executive Vice Chairman, from his current role as Chief Executive Officer and the appointment of Derek Feng as the CEO to be effective from January 21, 2019. Derek Feng, as a veteran of the education industry, will serve as CEO with all business management responsibility. Prior to joining the Company in January 2019, Mr. Feng was the co-founder and CEO of Qingmiao Dental, a company primarily engaged in orthodontics for children, from 2017 to 2018.

17:02 EDT Zymeworks reports second IND submission milestone in Eli Lilly collaboration - Zymework (ZYME) reported the achievement of a new development milestone in its collaboration with Eli Lilly (LLY). In accordance with Zymeworks' 2014 licensing and collaboration agreement with Lilly, Zymeworks will receive a milestone payment of $8.0M for Lilly's submission of an IND application for an immuno-oncology bispecific antibody enabled by Zymeworks' proprietary Azymetric platform. Under its two licensing and collaboration agreements with Lilly, Zymeworks has granted Lilly worldwide licenses to research, develop, and commercialize multiple bispecific therapeutics directed towards Lilly's targets. To date, Zymeworks has received multiple equity investments, an upfront licensing payment and multiple research and development milestone payments under these agreements. Zymeworks is also eligible to receive further development and commercial milestone payments and tiered royalties on global product sales.

17:01 EDT Casa Systems falls 7% after Q4 and full year guidance - Shares of Casa Systems are down 6.74% or 97c to $13.42 in after-hours trading.

16:46 EDT Northwest Pipe awarded large supply position on River Supply Conduit program - Northwest Pipe Company announced it was selected to supply 2.5 miles of the water pipeline for the River Supply Conduit Improvement, Upper Reach, Unit 7 project. This project will increase the capacity and improve the reliability of the River Supply Conduit network that brings water to central Los Angeles. Frontier-Kemper Constructors, is the General Contractor for the Los Angeles Department of Water and Power. Manufacturing is scheduled to begin in mid-2019 and is anticipated to be substantially complete by the end of 2020.

16:37 EDT Consolidated Edison raises quarterly dividend to 74c from 71.5c per share - The dividend is payable March 15, 2019 to stockholders of record as of February 13, 2019.

16:34 EDT Rio Tinto sees FY19 Pilbara iron ore output of 338MT-350MT - Sees FY19 Copper output 550KT-600KT vs. 633.5KT in FY18. Sees FY19 Aluminum output 3.2MT-3.4MT vs. 3.46MT in FY18.

16:31 EDT Dean Foods names Jeff Dawson Chief Accounting Officer - Dean Foods named Jeff Dawson as its Senior VP, Chief Accounting Officer, effective January 28. Dawson most recently served as Chief Accounting Officer, North America for Nokia Oy. Prior to this, he held senior financial positions with The Black & Decker Corporation and Georgia-Pacific Corporation. Dawson replaces Scott Vopni who left the Company to pursue other opportunities.

16:30 EDT J B Hunt Transport Services trading resumes

16:25 EDT Nautilus now down 26% to $8.75 after cutting Q4 expectations

16:21 EDT Argo Group sees Q4 pre-tax catastrophe loss $32M - Argo Group International Holdings, Ltd. announced a preliminary pre-tax catastrophe loss estimate for the three-month period ended December 31, 2018 of $32M, primarily related to Hurricane Michael and the California Wildfires. Additionally, the company's fourth quarter 2018 results will be impacted by higher than expected current accident year losses of approximately $12M, including a number of discrete Marine and Energy claims. Catastrophe loss estimates include claims costs net of ceded reinsurance recoverables and reinstatement premiums, and include losses related to certain aggregate excess of loss contracts.

16:18 EDT NCI Building enters into unit puchase agreement with Environmental Materials - NCI Building has entered into a Unit Purchase Agreement with Environmental Materials, or Environmental Stoneworks, and certain of its affiliates to purchase 100% of the outstanding limited liability company interests of Environmental Stoneworks. NCI will pay $186M for the interests and plans to finance the transaction through a combination of cash on hand and borrowings under its existing revolving credit facilities. During FY17, Environmental Stoneworks generated $160M in revenues. Based upon 2018E Adjusted EBITDA and giving effect to anticipated cost synergies, the transaction is expected to result in a purchase price multiple of 5.5x, with a minimal impact on NCI's leverage ratio. The transaction is expected to close during Q1.

16:17 EDT Mercury Systems receives $7M order for rugged servers - Mercury Systems announced it received a $7M order from a leading defense prime contractor for rugged servers to be used in an on-the-move tactical communications application. The order was booked in the company's Q2.

16:14 EDT Netflix expects 2019 free cash flow 'similar to 2018' - Netflix said: "Free cash flow in Q4'18 was -$1.3B vs. -$0.5B in Q4'17, totaling -$3B for 2018...We expect 2019 FCF will be similar to 2018 and then will improve each year thereafter (assuming, as we do, no material transactions.)...As long as we judge our marginal after-tax cost of debt to be lower than our marginal cost of equity, we'll continue to finance our working capital needs through the high yield market."

16:11 EDT Nautilus sinks 14% to $10.15 after Q4 outlook misses estimates

16:11 EDT Netflix sees 'significantly growing content while increasing revenue faster' - Netflix said in its quarterly letter to investors: "Our multi-year plan is to keep significantly growing our content while increasing our revenue faster to expand our operating margins. We're targeting a 9% operating margin in Q1'19, which we expect will grow over the course of the year and our full year operating margin target for 2019 remains 13% vs. 10% in 2018."

16:10 EDT J.B. Hunt reports Q4 operating income $123M, down 16% from last year - Operating income for the current quarter decreased to $122.7 million vs. $145.8 million for the fourth quarter 2017. The benefit from increased revenues was partly offset with cost increases in rail purchase transportation, inclusive of the $134.0 million contingent liability charge, increased driver wages, increased independent contractor rates per mile including outsourced intermodal dray, increased driver and independent contractor recruiting costs, and higher salary and wage expenses for non-driving personnel. Fourth quarter 2017 operating income included $38.9 million in charges for reserve increases on certain outstanding receivables and insurance claims.

16:10 EDT Nautilus COO Bill McMahon scaling back responsibilities for health issue - Nautilus said, "Bill McMahon, our Chief Operating Officer, has been diagnosed with a health issue that requires a recovery period that will result in him scaling back his responsibilities as COO near term. Bill will be taking on a Special Assistant to the CEO role in which he will support Carlos's transition into the Direct leadership role and help us drive many of the key cost improvement and other strategic initiatives on which we are focused. Bill has been a key partner in transforming the business over the past seven years and we wish him well and a speedy recovery. There are seasoned and talented executives in place for Bill's areas of responsibilities, and I will work closely with them to ensure we execute on our priorities." The company added, "We would also like to take this opportunity to provide an update on certain organization changes that are occurring. We are pleased to announce that Carlos Navarro has joined us as General Manager and Vice President of the Direct business. Carlos is a very accomplished executive with deep marketing, digital, and general management experience across a number of blue-chip consumer and industrial companies including Johnson & Johnson, Bausch+Lomb, and Jarden Corporation, and most recently South Jersey Industries, Inc."

16:08 EDT Netflix says new pricing in U.S. to be phased in for existing members over Q1-Q2 - Netflix confirmed in its quarterly letter to investors that it just increased U.S. prices for new members, as it did in Q4 in Canada and Argentina, and in Japan in Q3. "The new pricing in the U.S. will be phased in for existing members over Q1 and Q2, which we anticipate will lift ASP," the company stated.

16:08 EDT People's United Bank acquires VAR Technology Finance - People's United Bank, a subsidiary of People's United Financial, has acquired VAR Technology Finance, a private, independent leasing and finance company that supports equipment sales through its financing programs within the technology channel for small, medium and large technology manufacturers, software companies and resellers. Headquartered in Mesquite, TX, VAR Technology Finance will become a division of People's United's operating subsidiary, LEAF Commercial Capital.

16:07 EDT Aviat Networks' Network Operations Center selected by Federated Wireless - Aviat Networks' Global Network Operations Center services will be used by Federated Wireless, a spectrum management software company, in support of the commercial launch of their shared spectrum enablement business using the new Citizens Broadband Radio Service. Aviat will provide NOC monitoring and management of hundreds of environmental sensors spread across the three US coasts and help desk support for end users of the Federated Wireless Spectrum Controller.

16:06 EDT Netflix sees Q1 U.S. paid net additions of 1.6M - Sees Q1 international paid net additions of 7.3M.

16:04 EDT Netflix sees Q1 streaming paid net additons of 8.9M

16:03 EDT Alder Biopharmaceuticals appoints Paul Streck Chief Medical Officer - Alder BioPharmaceuticals announced the appointment of Paul Streck, M.D., as Chief Medical Officer, effective January 21. Streck brings more than 25 years of experience in drug development, regulatory and medical affairs leadership across both large and small publicly traded biopharmaceutical companies. He joins Alder from Insmed Incorporated, where he served as Chief Medical Officer.

15:01 EDT CMS Energy raises quarterly dividend to 38.25c from 35.75c per share - The first quarter dividend for the common stock is payable February 28 to shareholders of record on February 1.

14:33 EDT MacroGenics announces presentation of data on margetuximab/pembrolizumab combo - MacroGenics announced the presentation of updated data from its Phase 2 clinical trial of margetuximab plus pembrolizumab for patients with advanced HER2+ gastric carcinoma in a poster session at the 2019 ASCO Gastrointestinal Cancers Symposium. Acceptable tolerability was observed in the safety population of 95 patients, 92 of whom were treated at the recommended Phase 2 dose of 15 mg/kg for margetuximab and 200mg for pembrolizumab, both on an every three week schedule of administration. Grade 3 or higher treatment-related adverse events occurred in 17.9% of patients, the most common of which was infusion-related reaction. As of the January 8, 2019 data cut-off date for the current update of this ongoing study, objective responses were observed in 18/55 HER2+ response-evaluable gastric cancer patients, including 14 confirmed and 4 unconfirmed. The Objective Response Rate for this population was 32.7%, with a Disease Control Rate of 69.1%. Median Progression-Free Survival was 4.7 months. In the subset of these patients who were also PD-L1 positive, objective responses were observed in 12/23 patients, with a DCR of 82.6% and PFS of 4.14 months. As of the data cut-off date, the study was ongoing with 13 gastric cancer patients remaining on therapy. The median Overall Survival had not been reached in either of these groups. "We continue to be very encouraged by the tolerability and antitumor activity of margetuximab with an anti-PD-1 mAb, an investigational, chemotherapy-free approach that is designed to coordinately engage innate and adaptive immunity for treatment of patients with advanced HER2+ gastric cancer. Later this quarter, we plan to discuss proposed development plans for testing margetuximab in combination with an anti-PD-1 agent with the U.S. FDA. We also intend to discuss plans with ex-U.S. regulatory agencies in collaboration with our partner in the Greater China region, Zai Lab, later this year," said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics.

14:21 EDT PPG says implemented all remedial measures in SEC accounting investigation - Sees U.S. auto refinish improving in Q1 as destocking is done. Says has implemented all remedial measures in SEC accounting investigation. Says U.S. attorney in Pennsylvania also probing the matters. Comments taken from Q4 earnings conference call.

14:06 EDT PPG sees FX unfavorably affecting sales by $400M-$500M in 2019 - PPG said in prepared remarks ahead of its Q4 conference call that, throughout 2018, a variety of major foreign currencies continued to weaken versus the U.S. dollar, accelerating in the second half of the year. As a result, based on recent exchange rates, the company expects that year-over-year foreign currency translation will unfavorably impact sales by $400 -to- $500 million, and pre-tax income by about $50 -to- $70 million, with significantly higher unfavorable impacts in the first half 2019 due to the timing of the underlying 2018 currency decreases. The company generally purchases raw materials, incurs manufacturing costs and sells finished products in the same currency, so it does not typically incur significant foreign currency related transaction impacts.

13:38 EDT PPG Industries says U.S. dollar stronger in Q4 than previous year - The U.S. dollar was stronger compared to the prior year fourth quarter, especially against the euro, Mexican peso, and British pound, resulting in an unfavorable foreign exchange translation impact of about 3%, PPG said in prepared remarks ahead of its Q4 earnings conference call. The company added that foreign currency translation was "modestly favorable to net sales year-over-year. Favorable currency translation impacts experienced in the first half of 2018 offset unfavorable impacts during the second half of the year. The company's largest foreign currency translation exposures remained the same as last year. In 2018, overall pricing for the company increased by more than 2% versus the prior year, the company said. PPG added that Performance Coatings segment sales were negatively impacted by "unfavorable foreign currency translation" of about $55M.

13:23 EDT WEC Energy raises quarterly dividend 6.8% - The board of WEC Energy Group declared a quarterly cash dividend of 59c per share on the company's common stock, an increase of 6.8% over the current quarterly dividend of 55.25c a share. This raises the annual dividend rate to $2.36 a share. The higher dividend is payable March 1 to stockholders of record on February 14.

13:07 EDT FDA evaluating mortality information regarding paclitaxel balloons, stents - The FDA posted on its website a letter sent to physicians letting them know that the agency is "evaluating recent information regarding the potential for increased long-term mortality after use of paclitaxel-coated balloons and paclitaxel-eluting stents to treat peripheral arterial disease in the femoropopliteal artery." The FDA explained, "A recent meta-analysis of randomized trials published in the Journal of the American Heart Association suggests a possible increased mortality rate after two years in PAD patients treated with paclitaxel-coated balloons and paclitaxel-eluting stents compared to patients treated with control devices The specific cause for this observation is yet to be determined." The FDA recommends that healethcare providers continue surveillance of patients who have been treated with paclitaxel-coated balloons and paclitaxel-eluting stents per the current standard of care. It is currently evaluating available long-term follow-up data to determine if there are any long-term risks associated with paclitaxel-coated products. Reference Link

12:32 EDT Raytheon awarded $434M contract modification for SPY-6 AIM-9X tactical missiles - Raytheon Company was awarded the following contract as announced by the Department of Defense on December 28, 2018. Raytheon Missile Systems, Tucson, Arizona, is awarded a not-to-exceed $434,389,104 for an undefinitized modification P00001 to a previously awarded, fixed-price-incentive-firm contract. This modification provides for the procurement of AIM-9X Lot 18 production requirements to include 766 AIM-9X Block II all up round tactical missiles. Fiscal 2017 and 2018 missile procurement; fiscal 2017 and 2018 weapons procurement; fiscal 2018 research, development, test and evaluation; and foreign military sales funds in the amount of $321,622,863 will be obligated at time of award, $8,527,158 of which will expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

12:27 EDT LM Funding spikes 53% after completing IIU acquisition, sees accretion in 2019 - Earlier on Thursday, LM Funding America announced that it has completed the acquisition of all of the outstanding stock of IIU, pursuant to definitive agreements formalizing the Letter of Intent the Company entered into on December 20. The transaction was approved by the Board of Directors on January 15, 2019 following a legal and business due diligence review and receipt of a fairness opinion. Based in the metropolitan Washington DC area, IIU, through its U.S. subsidiary, sells global medical insurance products for international travelers, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. Per IIU's unaudited financial statements, they generated approximately $800,000 in revenues and $500,000 in pro-forma EBITDA in fiscal years 2017 and 2018. The acquisition is expected to be accretive to earnings in fiscal year 2019, following new customer enrollments that will take effect in 2019. LM Funding's CEO Bruce Rodgers said, "We are excited to complete this acquisition, which is expected to be accretive to earnings in 2019, as we merge IIU operations into the Company. We anticipate evaluating additional growth investments that are accretive to earnings." Shares of LM Funding America are up 75c per share or 52.5% in midday trading to $2.17 per share.

12:04 EDT Square launches free debit card for business, with sellers access to funds - Square announced the launch of Square Card, a free business debit Mastercard that helps businesses manage their cash flow by eliminating the time between making a sale and having the funds available to spend. Square Card also encourages commerce among the small business community by offering sellers a 2.75% instant discount on purchases made at other Square sellers.

12:02 EDT Gulfport Energy confirms receipt of Firefly letter - Gulfport Energy Corporation issued the following comments from the company's President, Chief Executive Officer and Board member, David M. Wood: "I have received Firefly's letter this morning, which followed dialogue we have had since my appointment to Gulfport last month regarding our mutual interest in enhancing and delivering value to all Gulfport shareholders." Wood continued, "Separately, the board of directors has a previously scheduled meeting today, after which Gulfport looks forward to providing further information to investors concerning the Company's plans for 2019."

12:00 EDT Earthstone Energy falls -21.9% - Earthstone Energy is down -21.9%, or -$1.48 to $5.29.

12:00 EDT Skechers rises 9.2% - Skechers is up 9.2%, or $2.34 to $27.69.

12:00 EDT Sears confirms ESL selected as winning bidder in bankruptcy auction - Sears Holdings announced that ESL Investments was selected as the winning bidder in the company's auction. Subject to bankruptcy court approval, ESL will acquire substantially all of the company's assets, including the "Go Forward Stores" on a going-concern basis for approximately $5.2B, Sears said in a statement. The hearing to approve the sale is currently scheduled for February 1. Provided the closing conditions are satisfied, the transaction is expected to close on or about February 8. The Restructuring Committee of Sears' board said: "We are pleased to have reached a deal that would provide a path for Sears to emerge from the chapter 11 process. Importantly, the consummation of the transaction would preserve employment for tens of thousands of associates, as well as the relationships with many vendors and suppliers who provide Sears with goods and services. We would like to thank our dedicated associates, vendors and partners for their continued support through this process, and most importantly the members and customers we have the privilege to serve."

11:55 EDT FDA commissioner describes efforts to support development of OTC naloxone - FDA Commissioner Scott Gottlieb, M.D. said in a statement: "With the number of overdose deaths involving prescription and illicit opioids more than doubling over the last seven years to nearly 48,000 in 2017, it's critical that we continue to address this tragedy from all fronts. This includes new ways to increase availability of naloxone, a drug used to treat opioid overdose... Naloxone is a critical drug to help reduce opioid overdose deaths. Prevention and treatment of opioid overdose is an urgent priority. Increased availability of naloxone for emergency treatment of overdoses is an important step. We're announcing the results of our work, including posting two model DFLs and the supporting FDA review. These efforts should jumpstart the development of OTC naloxone products to promote wider access to this medicine. The model DFL contains the information that a consumer needs to administer naloxone safely and effectively. The model DFL comes in two versions. One is for use with a nasal spray and one for use with an auto-injector. But the product-specific instructions in each version are placeholders that have not been tested by the FDA for comprehension or human factors performance. Additionally, we also held a two-day advisory committee meeting last month to solicit input and advice on strategies to increase the availability of naloxone products intended for use in the community. We asked our external advisors from the FDA's Anesthetic and Analgesic Drug Products and the Drug Safety and Risk Management Advisory Committees to consider various options for increasing access to naloxone."

11:33 EDT MidWestOne raises quarterly dividend 3.8% to 20.25c per share - MidWestOne Financial Group announced that on January 15, 2019 the Company's Board of Directors declared a cash dividend of 20.25c per common share, which is a 3.8% increase from the dividend paid in each of the previous two quarters. The dividend is payable on March 15, 2019 to shareholders of record at the close of business on February 28, 2019. At this quarterly rate, the indicated annual cash dividend is equal to 81c per common share.

10:25 EDT Fanhua decline attributed to short report alleging fraud - Shares of Fanhua are down $2.25, or roughly 10%, to $20.70 in early trading, which is being attributed to a report from JCapital Research alleging fraud at the company, according to contacts. JCapital accuses Fanhua of having secretively shifted $130M in assets to Fanhua executives and of inflating its revenue figures, The Fly is told by industry contacts.

10:02 EDT AAR Corp. awarded 7-year engine MRO contract for Royal Danish Air Force - AAR (AIR) has been awarded a seven-year contract by the Danish Defence Acquisition and Logistics Organisation to perform maintenance, repair and overhaul of Pratt & Whitney F100-220 engine components on the General Dynamics (GD) F-16 for the Royal Danish Air Force.

10:00 EDT Earthstone Energy falls -11.2% - Earthstone Energy is down -11.2%, or -76c to $6.01.

10:00 EDT Carriage Services rises 8.5% - Carriage Services is up 8.5%, or $1.44 to $18.44.

10:00 EDT PG&E rises 15.7% - PG&E is up 15.7%, or $1.10 to $8.13.

09:54 EDT Daily Journal Corp trading resumes

09:48 EDT Helios and Matheson announces submission for proposed spin-off of MoviePass - Helios and Matheson Analytics announced that MoviePass Entertainment Holdings, a newly formed wholly-owned subsidiary of HMNY that would take ownership of the shares of MoviePass and other film related assets held by HMNY, has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed distribution by HMNY of a minority of the shares of MoviePass Entertainment common stock held by HMNY as a dividend to stockholders of HMNY as of a record date that is yet to be determined. HMNY plans to retain control of MoviePass Entertainment upon any such distribution. Holders of certain warrants of HMNY as of the applicable record date would be entitled to participate in any such distribution of MoviePass Entertainment shares to the extent required by the terms of such warrants. HMNY has not yet determined the number of shares of MoviePass Entertainment to be distributed to its stockholders and warrant holders. HMNY expects to commence the distribution after the SEC completes its review process and declares the Form S-1 registration statement effective, and the distribution is subject to a number of other conditions, including the approved listing of shares of MoviePass Entertainment on Nasdaq or an alternate trading market and HMNY being permitted to distribute MoviePass Entertainment shares under Delaware law, of which there is no assurance.

09:47 EDT VelocityShares 3x Inv Natural Gas ETN falls -9.5% - VelocityShares 3x Inv Natural Gas ETN is down -9.5%, or -$6.74 to $64.52.

09:47 EDT WNS Holdings rises 9.5% - WNS Holdings is up 9.5%, or $4.25 to $49.00.

09:47 EDT PG&E rises 13.5% - PG&E is up 13.5%, or 95c to $7.98.

09:19 EDT Ideanomics signs agreement with CICC for NTC Electric City Bus upgrade - Ideanomics is pleased to announce it has entered into an agreement with China International Capital Corporation to tentatively commit to underwrite up to $1.47B per month for a total of $17.7B of investment for the NTC Electric City Bus upgrade initiative and agreement announced by Ideanomics in July 2018. CICC will provide services for Ideanomics specific projects as the role of an investment bank, assessing current business conditions and future development strategies. This agreement forms part of underwriting and marketing of asset-backed securities in support of the Chinese-government mandated electric bus upgrade and replacement project. The initial tranche of financing Ideanomics will service, with regional partners such as CICC, is expected to be approximately $8.5B starting in late Q1 and anticipated to be fulfilled completely by Q3, the final financing amount is estimated to reachapproximately $38.8B.

09:14 EDT Medtronic enrolls fist patient in Embrace TDD study - Medtronic announced the first patient enrolled in the Embrace TDD clinical study that will evaluate the use of the SynchroMed II intrathecal drug delivery system as an alternative to oral opioids for patients with chronic intractable non-malignant primary back pain with or without leg pain. The Medtronic pain pump provides effective pain relief at a fraction of the oral dose with fewer side effects and may help reduce or eliminate the use of oral opioids. The Embrace TDD study will follow patients who wean completely from all oral opioids and have a successful intrathecal drug trial.

09:11 EDT Pain Therapeutics enters academic collaboration with UT Austin - Pain Therapeutics announced it has entered into an academic collaboration with UT Austin in support of a product candidate aimed at pain management, abuse and addiction. The collaboration brings together the company and UT Austin's respective scientific expertise and capabilities, with a focus on validating a new technological innovation. The scope of work encompasses research and development to establish proof-of-concept around a well-known, and undisclosed, drug of abuse. UT Austin will lead the research program in accordance with technical milestones specified by the company. Pain Therapeutics owns worldwide development and commercial rights to the undisclosed product candidate that is the subject of the collaboration, without royalty or milestone obligations to any third-parties. The collaboration is unrelated to Remoxy.

09:09 EDT Medtronic enrolls first patient in Embrace TDD clinical study - Medtronic announced the first patient enrolled in the Embrace TDD (targeted drug delivery) clinical study that will evaluate the use of the SynchroMed II intrathecal drug delivery system as an alternative to oral opioids for patients with chronic intractable non-malignant primary back pain with or without leg pain. The Medtronic pain pump provides effective pain relief at a fraction of the oral dose with fewer side effects and may help reduce or eliminate the use of oral opioids. The Embrace TDD study will follow patients who wean completely from all oral opioids and have a successful intrathecal drug trial. The first patient was enrolled by John A. Hatheway, M.D., in Spokane, WA.

09:06 EDT Fly Intel: Pre-market Movers - HIGHER: Lipocine (LPCN), up 51% after its NASH therapy candidate achieves meaningful liver fat reduction in a study... Zafgen (ZFGN), up 7% after announcing its 1.8mg ZGN-1061 dose showed greater efficacy than 0.9mg dose in a trial... Insmed (INSM), up 4% after Goldman Sachs analyst Dana Flanders upgraded the stock to Buy and raised his price target for the shares to $35 from $29. The analyst says that following a "highly encouraging" first quarter of launch Arikayce, he sees a "beatable bar" in 2019. Cars.com (CARS), up 11% after the company announced that it has been conducting a process to explore strategic alternatives. UP AFTER EARNINGS: M&T Bank (MTB), up 3%. DOWN AFTER EARNINGS: Morgan Stanley (MS), down 4%... BB&T (BBT), down 2%... KeyCorp (KEY), down 1%... Fastenal (FAST), down 2%. LOWER: Electronic Arts (EA), down 2.5% after Jefferies analyst Timothy O'Shea downgraded the stock to Hold from Buy and lowered his price target to $95 from $139. The company's key profit engine Ultimate Team is plateauing, O'Shea tells investors in a research note... Revance (RVNC), down 2% after its 5.9M share secondary offering priced at $17.00 per share... Aurora Cannabis (ACB), down 8.5% after announcing a private placement of $250M of convertible senior notes.

09:04 EDT Abbott selected by JRC to partner in screening blood donations - Abbott announced that it has been selected by the Japanese Red Cross Society to partner in screening the country's blood donations. The 8-year contract is for the exclusive supply of serological instrumentation, tests and consumables used for blood and plasma screening. The JRC screens approximately 5M blood donations each year, helping ensure a safe supply of products needed for blood transfusions and plasma therapies. Abbott's broad portfolio of products is used to screen more than 60% of the world's blood and plasma supply. This agreement was reached after an extensive evaluation by the JRC of commercially available products across numerous analytical and quality parameters. As part of the proposal, Abbott will provide the JRC with Abbott's technology, leveraging the company's decades of leadership in blood screening for infectious diseases, medical and scientific research and expertise in efficiency through lab automation. The JRC will screen each donation across eight distinct assays, including hepatitis and retrovirus analysis.

08:59 EDT Dun & Bradstreet receives FCA approval in connection with proposed merger - Dun & Bradstreet (DNB) announced that the United Kingdom Financial Conduct Authority provided notice in writing for the purposes of the Financial Services and Markets Act 2000 that it has approved the change in control of Dun & Bradstreet Limited applicable to the company's proposed merger transaction with an investor group led by CC Capital, Cannae Holdings (CNNE), Bilcar, Black Knight (BKI) and funds affiliated with Thomas H. Lee Partners. The receipt of FCA approval satisfies the last remaining condition to the commencement of the fifteen business day marketing period contemplated by the merger agreement in order to permit the Investor Group to complete its debt financing, which contractual marketing period began today and will end on February 7, 2019, unless earlier waived. The proposed merger transaction remains subject to certain other customary closing conditions and is expected to close no later than February 11, 2019, two business days after expiration of the marketing period.

08:42 EDT Celsion announces results from Phase 1 TARDOX trial published - Celsion announced that results from the Phase I TARDOX trial of ThermoDox conducted at the University of Oxford, United Kingdom, were published in the peer-reviewed journal, Radiology. The TARDOX trial evaluated the safety and efficacy of ThermoDox, Celsion's proprietary heat-activated liposomal encapsulation of doxorubicin, along with focused ultrasound for the treatment of liver cancer. The article included an evaluation of the TARDOX results and the safety, efficacy and utility of treatment with ThermoDox plus targeted, non-invasive hyperthermic ultrasound in patients with solid liver tumors, with treatment plans based on patient-specific modeling. A lysolipid thermally sensitive liposome encapsulating the chemotherapy agent, doxorubicin, ThermoDox is designed to release targeted levels of doxorubicin into and around liver tumors with heat activation. The Phase I TARDOX study demonstrated that focused ultrasound exposure with ThermoDox resulted in increased chemotherapy concentrations within liver tumors that were an average of 3.7 times greater than preheating levels across all 10 patients in the study. The Phase I TARDOX study evaluated patients with inoperable primary or secondary liver tumors who had previously received chemotherapy. In this trial, 10 patients received a single intravenous dose of 50 mg/m2 of ThermoDox, and ultrasonic heating of target tumors was monitored in six participants using a minimally invasive temperature sensor, while four patients were treated without real-time thermometry. Safety was assessed by analysis of magnetic resonance imaging, or MRI, and biopsy specimens for evidence of thermal ablation, as well as adverse event monitoring. There was no evidence of focused ultrasound-related adverse effects, including thermal ablation. Numerous studies have demonstrated that focused ultrasound can be used to generate mild heating to facilitate the release of drug cargoes from thermosensitive liposomes, or TSLs. The company believes the TARDOX study is the world's first Phase I clinical trial aimed at evaluating the effect of doxorubicin released from TSLs after focused ultrasound-induced mild hyperthermia. The study presents a model for predicting the focused ultrasound treatment parameters needed to attain mild hyperthermia and facilitate doxorubicin release from TSLs. This model may improve the current clinical use of hyperthermia by providing an alternative strategy for treatment planning based on a thermal model rather than actual thermometry, which is more invasive. For all participants, CT images were used with the patient-specific hyperthermia model in order to define focused ultrasound treatment plans. Feasibility was assessed by comparing model-prescribed focused ultrasound powers to those implemented for treatment. Celsion believes this is a meaningful initial demonstration of the model providing accurate, successful treatment parameters. In addition, these observations support the potential for non-invasive hyperthermic ultrasound to expand the use of ThermoDox to the treatment of other types of cancer.

08:37 EDT Simulations Plus company DILIsym Services awarded $1.5M Phase II NIH grant - DILIsym Services, a Simulations Plus company, announced it has been awarded $1.5M from Phase II of its previously announced Fast-Track Small Business Innovation Research, or SBIR, grant by the National Institutes of Diabetes and Digestive and Kidney Diseases, or NIDDK. The second phase of the grant funding will support DILIsym Services' continued development, validation, and testing of its RENAsym software for predicting drug-induced kidney injury. Drug-induced kidney injury can be costly, and may require multiple interventions, including hospitalization. The development of the RENAsym software will provide a tool that can be used in drug development efforts to predict a drug's potential to cause drug-induced kidney injury, as well as assess and improve the understanding of mechanisms of drug-induced kidney injury.

08:36 EDT Morgan Stanley sees room for smaller deals in investment management

08:35 EDT Tricida appoints Susannah Cantrell as chief commercial officer - Tricida (TCDA) announced the hiring of Susannah Cantrell as chief commercial officer and SVP. Cantrell will lead Tricida's commercial planning and operations functions. She most recently served as VP & head, global commercial strategy and marketing oncology at Gilead Sciences (GILD).

08:32 EDT Johnson & Johnson announces research study with Apple Watch - Johnson & Johnson (JNJ) announced that Janssen Pharmaceuticals, member of the Johnson & Johnson Family of Companies, entered into a research study in collaboration with Apple (AAPL) to investigate whether a new heart health program using an app from Johnson & Johnson in combination with Apple Watch's irregular rhythm notifications and ECG app can accelerate the diagnosis and improve health outcomes of the 33M people worldwide living with atrial fibrillation, a condition that can lead to stroke and other potentially devastating complications. In the U.S. alone, AFib is responsible for approximately 130,000 deaths and 750,000 hospitalizations every year. The study aims to analyze the impact of Apple Watch on the early detection and diagnosis of AFib, and the potential to improve outcomes including the prevention of stroke. A multi-year research program will be launched later in 2019. This large-scale program will occur in the U.S. only, and will be designed as a pragmatic randomized controlled research study for individuals age 65 years or older.

08:27 EDT Morgan Stanley says market backdrop has 'clearly constructive' tone

08:18 EDT Morgan Stanley says investment banking pipelines 'healthy'

08:18 EDT Omeros finalizes clinical plan for OMS721 submission with FDA - Omeros announced that it has finalized its clinical plan for OMS721 submission and approval in immunoglobulin A nephropathy, or IgAN, following a recent meeting with the FDA. OMS721 is Omeros' lead human monoclonal antibody targeting MASP-2, the effector enzyme of the complement system's lectin pathway. There is no approved treatment for IgA nephropathy. Clinical results from the first and second cohorts of the Phase 2 trial in IgAN were part of the background materials provided to FDA for the recent meeting on the Phase 3 clinical program. During the FDA meeting, the following points were confirmed: The Phase 3 trial's primary endpoint of assessment of proteinuria was extended from 24 to 36 weeks at the company's request to allow for additional OMS721 dosing, if needed. This continues to provide OMS721 a path to accelerated, or even full, approval based on those 36-week proteinuria data in either (i) the entire patient population or (ii) the high-risk subpopulation. Given investigators' concerns about extended withholding of OMS721 treatment from any high-risk study patient initially randomized to the placebo-treated group, patients in that subpopulation will be allowed open-label treatment with OMS721 after at least 1 year of blinded treatment. The OMS721 Phase 3 ARTEMIS-IGAN trial continues to enroll and will incorporate the beneficial changes noted above without any impact to study patients already enrolled. The trial is designed based on the positive results from the two previously reported Phase 2 cohorts - the first assessing patients who were receiving corticosteroids at time of enrollment and then tapered off steroids during the study and the second comprised of patients who were not taking steroids.

08:15 EDT Great Panther Silver provides 2019 Mexican operations production and cost view - Great Panther Silver announced 2019 production and unit cost guidance for its two wholly-owned Mexican silver mining operations: the Topia Mine, and the Guanajuato Mine Complex, which includes the San Ignacio Mine and the Guanajuato Mine. 2019 production is expected to be 3.7-4.0 million Ag Eq oz. Great Panther has undertaken a multi-mine optimization strategy under which the entire production for the GMC will be sourced from the lower cost San Ignacio Mine, enabling a focused exploration program for the Guanajuato Mine aimed at growing higher margin resources. In addition, a planned increase in the processing capacity from the Topia Mine in 2019 is expected to increase production by approximately 25% compared to 2018. Cash cost is expectd to be $5-$6.50, AISC are expected to be $10-$12 excluding G&A expenditures and $13-$15 including G&A expenditures.

08:14 EDT Morgan Stanley seeking bolt-on M&A in wealth, investment management businesses

08:11 EDT Morgan Stanley sees growing majority ownership of China business 'over time'

08:07 EDT Essendant, Staples announce extension of tender offer for Essendant shares - Staples and Essendant announced that, pursuant to the Merger Agreement, Egg Merger Sub and Egg Parent, affiliates of Staples, have extended the expiration time of the previously announced tender offer for all outstanding shares of Essendant's common stock to 6:00 p.m., New York City time, on January 23, 2019, unless the tender offer is further extended in accordance with the Agreement and Plan of Merger, dated as of September 14, 2018, by and among Essendant, Staples, Egg Parent and Egg Merger Sub. The tender offer was previously scheduled to expire at 6:00 p.m., New York City time, on January 16, 2019. The tender offer is being made pursuant to the Merger Agreement. Egg Merger Sub and Egg Parent expect the tender offer will be consummated promptly following the expiration time, subject to the satisfaction of the remaining closing conditions. The tender offer has been extended to allow additional time for the condition relating to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 to be satisfied. The parties expect the merger to close in early 2019.

08:06 EDT Actinium completes first module of collaborative research program with Astellas - Actinium Pharmaceuticals (ATNM) has successfully completed the first module of its previously announced research and option agreement with Astellas Pharma (ALPMY). Within the collaboration, the company is using its Actinium Warhead Enabling Platform to conjugate and label select Astellas targeting agents with the actinium-225 payload.

08:05 EDT Morgan Stanley says doesn't believe Q4 is 'new normal' - Says 2018 ended on a "disappointing" note. Says the last 6 weeks of the year, in particular, were "difficult." Says does not believe Q4 is a new normal. Says 1Q19 has started on similar path as first quarter of 2018. Comments taken from the Q4 earnings conference call. Shares of Morgan Stanley are down 4.5% in pre-market trading.

08:04 EDT AMC Theatres announces AMC Stubs reaches over 18M member households - AMC Theatres announced that AMC Stubs, the company's loyalty program, has continued its brisk growth now totaling more than 18M member households in the United States. At the U.S. average of 2.6 people per household, that means approximately 46M Americans are enjoying the AMC experience via AMC Stubs. The program's growth continues to be driven by benefits offered by the three tiers of AMC Stubs: AMC Stubs A-List; AMC Stubs Premiere and AMC Stubs Insider. A-List and Premiere members are enjoying a 10% discount at the box office and concession stand, free size upgrades on popcorn and soda, priority lines, and no online ticketing fees. Insider, AMC Stubs' free tier, joins Premiere and A-List by offering Ticket Tuesday Savings, free refills on large popcorns, and a birthday gift for members. Insider members also earn a $5 reward good at the concession stand for every $250 spent at the box office and on food and drinks.

08:03 EDT HCI Group increases quarterly dividend 6.7% to 40c per share - The board of directors of HCI Group has declared a regular quarterly cash dividend in the amount of 40c per common share for Q1, which represents a 6.7% increase over the previous quarterly rate of 37.5c. The dividend will be paid March 15 to shareholders of record on the close of business February 15.

08:00 EDT Inovalon announces multi-year expansion of APWUHP contract - Inovalon announced a multi-year expansion of a contract with the American Postal Workers Union Health Plan, or APWUHP, which represents more than 200,000 United States Postal Service, or USPS, and Federal employees, retirees and their families, in support of a comprehensive data-driven strategy utilizing analytics to enable greater clinical quality outcomes insight for its members across multiple states.

07:54 EDT Spectrum sells portfolio to Acrotech for $160M upfront cash, $140M in milestones - Spectrum Pharmaceuticals announced that it has entered into a definitive agreement to sell its portfolio of seven FDA-approved hematology/oncology products to Acrotech Biopharma, Acrotech Biopharma is a New Jersey-based wholly-owned subsidiary of Aurobindo Pharma USA. The seven products included in the sale are: FUSILEV, FOLOTYN, ZEVALIN, MARQIBO, BELEODAQ, for injection, EVOMELA for injection, and KHAPZORY. The products generated combined sales of $76.4M during the first nine months of 2018. The Boards of Directors of Spectrum Pharmaceuticals and Aurobindo have both approved the transaction, which is subject to regulatory approvals and expected to close within 90 days. Jefferies LLC is acting as exclusive financial advisor to Spectrum. Paul Hastings LLP is acting as exclusive legal counsel to Spectrum. Under the terms of the deal, Acrotech will make a $160M up-front cash payment and up to $140M in milestones.

07:45 EDT Signet Jewelers down 10% to $29.95 after lowering Q4, FY19 guidance - The company also reported holiday season SSS down 1.3%.

07:34 EDT Aemetis receives $12.7M tax exemption from CAEATFA for biofuels project - Aemetis announced that the California Alternative Energy and Advanced Transportation Financing Authority, or CAEATFA, awarded the Aemetis Riverbank advanced biofuels project an exclusion from the payment of California sales and use taxes valued at $12.7M. The CAEATFA financial assistance program provides for up to $100M per year of California state funding support for projects that enhance job creation and advance other state goals, including reducing air pollution, improving the environment and lowering carbon emissions. The CAEATFA award is an exemption from California sales and use taxes that would otherwise be due on purchases for the construction of the planned $175M cellulosic ethanol plant at the former Riverbank ammunition plant in Riverbank, California. The tax exemption directly reduces the amount of funding required to construct the Riverbank facility.

07:20 EDT Morgan Stanley reports Common Equity Tier 1 capital ratio 16.8% - As of December 31, 2018, the Firm's Common Equity Tier 1 and Tier 1 risk-based capital ratios under the fully phased-in Standardized Approach were approximately 16.8% and 19.1%, respectively; the fully phased-in Supplementary Leverage Ratio was approximately 6.5%. At December 31, 2018, book value and tangible book value per common share were $42.2018 and $36.99,19 respectively, based on approximately 1.7 billion shares outstanding.

07:18 EDT Morgan Stanley reports Q4 FICC sales and trading revenue $564M - Institutional Securities reported pre-tax income from continuing operations of $780 million compared with $1.2 billion a year ago. Net revenues for the current quarter were $3.8 billion compared with $4.5 billion a year ago. Sales and Trading net revenues of $2.5 billion decreased from $2.7 billion a year ago: Equity sales and trading net revenues of $1.9 billion were essentially unchanged from a year ago reflecting higher revenues in the financing business, partially offset by lower results in execution services. Fixed Income sales and trading net revenues of $564 million decreased from $808 million a year ago reflecting lower results in credit and rates products due to unfavorable market making conditions that resulted from significant credit spread widening and volatile rate movements, partially offset by increases in commodities revenues. Wealth Management reported pre-tax income from continuing operations of $1.0 billion compared with $1.2 billion a year ago. The quarter's pre-tax margin was 24.4%.7 Net revenues for the current quarter were $4.1 billion compared with $4.4 billion a year ago principally driven by losses related to investments associated with certain employee deferred compensation plans. Asset management revenues of $2.6 billion increased from $2.5 billion a year ago reflecting higher asset levels and positive flows. Transactional revenues of $422 million decreased from $790 million a year ago primarily due to the deferred compensation plan investment losses referred to above, as well as lower investment banking and fixed income revenues. Investment Management reported pre-tax income from continuing operations of $74 million compared with $80 million a year ago. Net revenues of $684 million increased from $637 million a year ago. Asset management revenues of $628 million increased from $572 million a year ago principally driven by the timing of performance fees recognition compared with a year ago. Investment revenues of $82 million decreased from $112 million a year ago due to mark downs of investments and lower carried interest in certain alternative/other products.

07:14 EDT Ocean Power receives $900,000 in non dilutive funding from NJ program - Ocean Power announced that it recently received $900,000 of non-dilutive funding through the New Jersey Economic Development Authority's Technology Business Tax Certificate Transfer Program. The program enables companies to raise funding to finance their growth and operations and is administered by the New Jersey Economic Development Authority and the New Jersey Department of the Treasury's Division of Taxation. Under the program, New Jersey-based technology and biotechnology companies with fewer than 225 US employees may be eligible to sell net operating losses and research and development tax credits to unaffiliated corporations up to a maximum lifetime benefit of $15M per business.

07:08 EDT HEXO Corp to begin trading on NYSE American - HEXO Corp. announced that its common shares have been approved for listing on the NYSE American LLC ad will commence trading effective at the open of markets on January 23, 2019. HEXO's shares will trade on the NYSE American under the ticker symbol "HEXO", the same symbol the Company's common shares currently trade under, and will continue to trade under, on the Toronto Stock Exchange.

07:07 EDT Lexicon says FDA advisory committee to review Sotagliflozin NDA - Lexicon Pharmaceuticals (LXRX) announced that NASDAQ has halted trading of the company's common stock. The U.S. Food and Drug Administration's Endocrinologic and Metabolic Drugs Advisory Committee is meeting today to review Lexicon collaborator Sanofi's (SNY) New Drug Application for sotagliflozin, an investigational oral treatment for adults with type 1 diabetes. The Prescription Drug User Fee Act date for completion of the review of the New Drug Application for sotagliflozin is anticipated to be March 22, 2019.

07:07 EDT Lexicon sas FDA advisory committee to review Sotagliflozin NDA - Lexicon Pharmaceuticals (LXRX) announced that NASDAQ has halted trading of the company's common stock. The U.S. Food and Drug Administration's Endocrinologic and Metabolic Drugs Advisory Committee is meeting today to review Lexicon collaborator Sanofi's (SNY) New Drug Application for sotagliflozin, an investigational oral treatment for adults with type 1 diabetes. The Prescription Drug User Fee Act date for completion of the review of the New Drug Application for sotagliflozin is anticipated to be March 22, 2019.

07:05 EDT Zafgen: 1.8mg ZGN-1061 dose showed greater efficacy than 0.9mg dose in trial - Zafgen announced data for the second cohort of its Phase 2 clinical trial of ZGN-1061, designed to evaluate efficacy and safety in patients with type 2 diabetes and the likely therapeutic dose range of ZGN-1061 up to 1.8 mg. The clinical trial met all of its primary objectives at the 1.8 mg dose, which included glycemic control, or change in A1C, and safety and tolerability. The 12-week data demonstrated that treatment with the 1.8 mg dose of ZGN-1061 produced substantially more improvement in A1C than the 0.9 mg dose. Progressive and notable reduction in body weight also occurred in patients treated with the 1.8 mg dose. The data showed a favorable safety and tolerability profile for ZGN-1061, with no treatment-related serious adverse events and no cardiovascular safety signals observed. Treatment with ZGN-1061 demonstrated a statistically significant reduction in A1C for 0.9 mg and 1.8 mg versus placebo at Week 12, with a 1.1% reduction in A1C at the 1.8 mg dose relative to placebo. A1C levels continued to decline with no waning of effect for both doses through Week 12. Progressive weight reduction was also observed at the 1.8 mg dose, with placebo-corrected weight loss of 2.3 kg seen at Week 12 with no evidence of waning effect. Significant improvements were observed across multiple secondary efficacy endpoints and various relevant metabolic biomarkers, as well.

07:03 EDT Blue Mountain says PG&E board's bankruptcy plans 'damaging,' 'avoidable' - BlueMountain Capital Management sent an open letter to the Board of Directors of PG&E Corporation and the Board of Directors of Pacific Gas and Electric Company challenging their plans announced January 14 to file for Chapter 11. "There is overwhelming evidence that PG&E is solvent. We simply cannot recall a situation where such a valuable company filed for bankruptcy with such blatant questions about the necessity of doing so," reads the letter, which calls the board's bankruptcy plans "damaging, avoidable and unnecessary."

07:03 EDT Nielsen, Cox Media Group reach multi-year agreement on measurement services - Nielsen and Cox Media Group announced a multi-year renewal agreement for television and audio measurement services. The agreement covers all Cox Media Group's local television and radio stations as well as CoxReps and Videa. With this new agreement, Cox stations will continue to utilize a comprehensive suite of Nielsen data to demonstrate value to advertisers. In addition, the licensed solutions offer a broader look at consumer viewing and listening insights that will further enable Cox to demonstrate its reach and value for advertisers.

07:00 EDT Pennsylvania REIT announces lease to Michaels at Moorestown Mall - Pennsylvania REIT (PEI) announced the completion of key leasing at Moorestown Mall, executing a lease with Michaels (MIK), which will occupy 25,000 square feet of space, offering arts, crafts, framing, floral, wall decor and seasonal merchandise. Michaels will join other stores creating a diverse retail mix reflective of the new mall platform. Michaels is expected to open in late 2019.

06:58 EDT Signet Jewelers reports holiday season SSS down 1.3%

06:50 EDT Archer Daniels to acquire Gleadell Agriculture, Dunns Ltd - Archer Daniels Midland Company announced it has signed an agreement to purchase the remaining 50% stake of Gleadell Agriculture Ltd., currently jointly owned by ADM and InVivo, including Gleadell's wholly owned subsidiary Dunns. ADM will merge Gleadell and Dunns with ADM Arkady, ADM's UK destination marketing business, and ADM Direct UK, ADM's specialist combinable crop origination business to create ADM Agriculture Ltd. The deal, which is subject to regulatory review, is expected to close during the first quarter of 2019.

06:35 EDT Wex to acquire Discovery Benefits for $425M - Wex signed an agreement to acquire Discovery Benefits, an employee benefits administrator to more than one million consumers across all 50 states. DBI has been a partner of Wex's Health division for more than a decade. The company generated approximately $100M in revenue during 2018. Wex will pay a total cash consideration of approximately $425M, including $50M which will be deferred until January of 2020. In addition, the transaction is expected to generate approximately $50M in net present value of tax benefits. Wex is in discussions with its relationship banks to expand available borrowing capacity. The sellers of DBI will also retain an equity interest of approximately 5% of the entity resulting from the combination of WEX's Health division and Discovery Benefits. Wex expects the acquisition to be immaterial to adjusted net income in year one and yield approximately $15M in annual run-rate synergies within the first 24 months following the close of the transaction. The transaction is expected to close in Q1.

06:19 EDT Cellular Biomedicine announces AlloJoin approval for Phase 2 trial in China - Cellular Biomedicine announced that its off-the-shelf allogeneic adipose-derived mesenchymal progenitor cell, or haMPC, AlloJoin therapy for Knee Osteoarthritis, or KOA, has been approved as the first stem cell KOA drug application in China for a Phase II clinical trial. China NMPA clarified Cell Therapy Regulations in December 2017 whereby all cell therapies are being treated as drug NDA/IND. Following a 60-day period of priority review of CBMG's IND application for AlloJoin for KOA, CBMG's IND application has become the first stem cell drug application to be approved by CDE for a Phase II KOA clinical trial since the regulation's release.

06:14 EDT Hitachi to suspend work on nuclear plant in North Wales - Hitachi said on Thursday that it was suspending work on a nuclear power project in North Wales after failing to agree on financial terms with the British and Japanese governments. "The decision was made from the viewpoint of Hitachi's economic rationality as a private enterprise," the company said. The company said it planned to take a write-off of 300 billion yen on the projects.

06:09 EDT Roadrunner announces record date of January 30 for upcoming rights offering - Roadrunner announced the record date of January 30 for the company's upcoming rights offering. The company filed Amendment No. 2 to its Registration Statement on Form S-1 relating to the rights offering on January 11 and expects that the Registration Statement will become effective on January 31. Once the Registration Statement is effective, the company intends to commence the rights offering on February 1.Each right will entitle the holder to purchase approximately 23.1 shares of the company's common stock. The company expects the rights will be admitted for trading on the New York Stock Exchange under the symbol "RRTS RT" during the course of the rights offering. The company intends to close the rights offering and the related backstop commitment on or about February 25 and no later than March 1. The shareholder-approved rights offering calls for the issuance and sale of 900M shares of the company's common stock at a subscription price of 50c per share to raise $450M in gross proceeds.

06:06 EDT Bombardier selects Triumph Group for A320neo nacelle components - Triumph Group (TGI) announced that its Integrated Systems business unit will provide nacelle components for Bombardier (BDRBF) Belfast in support of their thrust reverser units for the Geared Turbo Fan powered A320neo aircraft. Under the agreement Triumph will design, qualify and manufacture cowl opening actuation systems and hold-open rods. Triumph Integrated Systems currently provides cowl opening actuators for the CFM powered A320neo aircraft. The company also provides engine nacelle components for all major programs including the A330, B737, B787, B777X, G280 and Legacy 450/500.

05:10 EDT Tesla to end customer referral program, says adding too much cost to cars - Tesla CEO Elon Musk tweeted overnight, "The Tesla customer referral program will end on Feb 1. If you want to refer a friend to buy a Tesla & give them 6 months of free Supercharging, please do so before then." Musk explained in a response tweet, "Yes, ending on Feb 1. It's adding too much cost to the cars, especially Model 3." When asked if there will be another referral program in its place, Musk said, "No, the whole referral incentive system will end."