Stockwinners Market Radar for January 18, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:02 EDT Technical Comm Corp reports notice of failure to satisfy Nasdaq rule - Technical Communications Corporation announced that on January 16, 2019, the company received notice from the Nasdaq Listing Qualifications department of the Nasdaq Stock Market that, because TCC had not yet filed its Annual Report on Form 10-K for the fiscal year ended September 29, 2018, the company no longer complied with Nasdaq continued listing Rule 5250c1, which rule requires companies with securities listed on Nasdaq to timely file all required periodic reports with the U.S. Securities and Exchange Commission. Pursuant to such notice, the company will have 60 calendar days to submit a plan to Nasdaq to regain compliance; if the plan is accepted, Nasdaq can grant an exception of up to 180 days from the due date of the filing, or until July 15, 2019, to regain compliance.

17:28 EDT Mangrove Partners reports 9.4% passive stake in TransAlta - In a regulatory filing, Mangrove Partners disclosed a 9.4% stake in TransAlta, representing nearly 27M shares. The filing does not allow for activism.

16:49 EDT FedEx establishes voluntary buyout program for U.S. workers - FedEx said in a regulatory filing that a voluntary buyout program for eligible U.S.-based employees is a component of FedEx Corporation's ongoing efforts to improve efficiencies and reduce costs. On January 18, 2019, FedEx and its wholly owned subsidiaries Federal Express Corporation and FedEx Corporate Services, Inc. began offering voluntary cash buyouts to eligible U.S.-based employees. The offer periods will expire in the fourth quarter of fiscal 2019. The U.S.-based employee voluntary buyout program includes voluntary severance payments to be calculated based on four weeks of gross base salary for every year of continuous FedEx service up to a maximum payment of two years of pay. It also includes funding to healthcare reimbursement accounts. These incentives do not include any changes to retirement eligibility or payments. However, employees who are eligible for this program and are also eligible to retire may elect to accept the voluntary buyout and retire. Costs of the benefits to be provided under the U.S.-based employee voluntary buyout program will be recognized in the period that eligible employees accept their offers, which is expected to be predominantly in the fourth quarter of fiscal 2019. The company expects the pre-tax cost of the U.S.-based program to range from $450M to $575M in pre-tax cash expenditures, but actual costs will depend on employee acceptance rates. FedEx expects savings from the U.S.-based program to be between $225M to $275M on an annualized basis beginning in fiscal 2020. Eligible employees will vacate positions in a manner to ensure a smooth transition in the impacted functions so that we maintain service levels to customers. The company expects for the majority of eligible and accepting employees to vacate their positions by the end of fiscal 2019.

16:33 EDT AbbVie: Phase 3 study of ibrutinib did not meet primary endpoint - AbbVie (ABBV) announced an update on the Phase 3 RESOLVE trial of ibrutinib in combination with chemotherapy agents nab-paclitaxel and gemcitabine versus placebo in combination with these chemotherapy agents in patients with metastatic pancreatic adenocarcinoma (cancer). Metastatic pancreatic cancer is an aggressive and difficult-to-treat solid tumor primarily treated with chemotherapy today. IMBRUVICA is a first-in-class Bruton's tyrosine kinase inhibitor jointly developed and commercialized by Pharmacyclics LLC, an AbbVie company, and Janssen Biotech (JNJ). IMBRUVICA has been available in the U.S. since 2013 and is FDA-approved for use in five B-cell blood cancers, as well as in chronic graft-versus-host-disease for a total of nine FDA-approved indications. PCYC-1137 evaluated the efficacy of ibrutinib in combination with nab-paclitaxel and gemcitabine for the first-line treatment of patients with metastatic pancreatic cancer. Patients were randomized 1:1 to receive ibrutinib and nab-paclitaxel and gemcitabine combination treatment arm versus the placebo and nab-paclitaxel and gemcitabine combination treatment arm . At conclusion, the study did not meet its primary endpoint of improving progression-free survival or overall survival benefit among the study population. Safety data collected from the study were consistent with the existing safety information for the study therapies. The full results from this trial will be submitted for publication to a future scientific conference and/or a peer-reviewed medical journal.

16:09 EDT WhiteHorse Finance, STRS Ohio form JV to invest in debt facilities - WhiteHorse Finance, Inc. and State Teachers Retirement System of Ohio, a public pension fund established under Ohio law, announced that they have entered into an agreement to co-manage a newly-formed joint venture, WHF STRS Ohio Senior Loan Fund LLC, to invest primarily in lower middle market, senior secured debt facilities. The company and STRS Ohio have committed to provide up to $125M of subordinated notes and equity to the joint venture, with the company providing up to $75M and STRS Ohio providing up to $50M. In addition, the joint venture intends to seek up to $250M in third-party financing thereby providing WhiteHorse Finance up to $375M in lending capacity. Additional terms of the transaction were not disclosed.

16:07 EDT Euroseas receives Nasdaq notice of non-compliance - Euroseas Ltd. announced that it received notice from the Nasdaq Stock Market LLC dated January 14, 2019 indicating that the company is no longer in compliance with Nasdaq's continued listing requirements under Nasdaq Listing Rule 5550a2 because the closing bid price of the company's common stock over a period of 30 consecutive business days was less than $1.00 per share. Pursuant to Nasdaq Listing Rule 5810c3A, the company has six months following receipt of the notification to regain compliance with the minimum share price requirement. The company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the six months following the date of the Notice. Alternatively, the company could also take other actions to cure the deficiency, such as a reverse stock split. The company intends to cure the deficiency within the prescribed timeframe. During this time, the company's common stock will continue to be listed and trade on the Nasdaq Capital Market. The company's business operations are not affected by the receipt of the Notice.

15:22 EDT RTW Investments reports 5.13% passive stake in Establishment Labs - In a regulatory filing, RTW Investments disclosed a 5.13% stake in Establishment Labs, which represents 1.05M shares. The filing does not allow for activism.

14:29 EDT MutualFirst Financial to repurchase up to 430,000 shares - MutualFirst Financial, Inc. announced its intention to repurchase up to 430,000 shares or approximately 5% of its outstanding shares in the open market and in privately negotiated transactions. These shares will be purchased from time to time over a twelve-month period depending upon market conditions.

14:00 EDT Telecom Italia establishes chief revenue office, entrusts to Lorenzo Forina - Telecom Italia announced the establishment of the Chief Revenue Office, entrusted to Lorenzo Forina, who will report directly to the CEO with responsibility for developing the company's commercial strategy for the entire Consumer/Small Enterprise and Business/Top Clients offering. Specifically, the new office will be responsible for ensuring, at group level, the operating margin of Retail clients, increasing client value, maximising income, profitability and market share by defining the offering, prices, marketing plans, go-to-market, ICT solution design, commercialisation of products/services and post-sales and care activities.

13:07 EDT Disney says ESPN+ surpassed 1M subscribers in its first five months

13:05 EDT Disney recasts three years of results to reflect segment reorganization - Disney provided detailed financial information regarding its recently formed Direct-to-Consumer, or DTC, and International business segment in a filing, offering additional insight into the company's growing DTC business and its investment in technology and original content. The company recast financial results for the past three fiscal years to reflect the recent reorganization of Disney's business segments. This recast has no impact on prior-years' net income or earnings per share, and is intended to provide information useful to investors in analyzing the company's February 5 release of Q1 earnings, when financial results will be reported under the new segment structure. "Our top priority is fully leveraging our global brands and great content to create world-class direct-to-consumer entertainment," said Disney CEO Robert Iger. "We have the structure and management in place to drive growth in our DTC business, and our acquisition of 21st Century Fox further enhances our ability to deliver significant value to consumers and shareholders. Acquiring BAMTech enabled us to enter the DTC space quickly and effectively, as demonstrated by the success of ESPN+. The service surpassed 1M subscribers in its first five months and continues to grow as it expands its content mix, all of which bodes well for our upcoming launch of Disney+. The ability to connect directly with millions of Disney, Pixar, Marvel, and Star Wars fans creates tremendous opportunities for growth. In addition to leveraging our existing IP in new ways, we're making significant investments in original content exclusively for Disney+, creating an impressive pipeline of high-quality movies and series we believe will make the streaming service even more compelling for consumers."

13:04 EDT Baker Hughes reports U.S. rig count down 25 to 1,050 rigs - Baker Hughes reports that the U.S. rig count is down 25 rigs from last week to 1,050 rigs, with oil rigs down 21 to 852 and gas rigs down 4 to 198. The U.S. Rig Count is up 114 rigs from last year's count of 936, with oil rigs up 105 and gas rigs up 9. The U.S. Offshore Rig Count is down 2 rigs to 19 and unchanged at 19 year-over-year. The Canada Rig Count is up 25 rigs from last week to 209, with oil rigs up 25 to 128 and gas rigs unchanged at 81. The Canada Rig Count is down 116 rigs from last year's count of 325, with oil rigs down 80 and gas rigs down 36.

12:49 EDT Tellurian Driftwood LNG receives FEIS from FERC - Tellurian announced that the U.S. Federal Energy Regulatory Commission, or FERC, issued the final Environmental Impact Statement, or FEIS, for Driftwood LNG, an approximately 27.6M tonne per annum liquefied natural gas export facility and an associated 96-mile pipeline, proposed near Lake Charles, Louisiana, on the U.S. Gulf Coast. Tellurian CEO Meg Gentle said, "Tellurian thanks the FERC for a thorough review and for remaining on schedule. We look forward to receiving the agency's order granting authorization to site, construct and operate our Driftwood project. Tellurian will then stand ready to make a final investment decision and begin construction in the first half of 2019, with the first LNG expected in 2023."

12:18 EDT Adage Capital Partners reports 4.81% passive stake in Eagle Materials - In a regulatory filing, Adage Capital Partners disclosed a 4.81% stake in Eagle Materials, which represents 2.25M shares. The filing does not allow for activism.

12:00 EDT Britannia Bulk falls -7.6% - Britannia Bulk is down -7.6%, or -79c to $9.57.

12:00 EDT Hi-Crush Partners rises 9.7% - Hi-Crush Partners is up 9.7%, or 42c to $4.74.

12:00 EDT PG&E rises 12.7% - PG&E is up 12.7%, or 81c to $7.17.

11:48 EDT Izea continues to expand relationship with Fortune 10 customer - IZEA Worldwide announced that it continues to expand its direct relationship with a Fortune 10 customer. The customer began working directly with IZEA in 2017 after a successful pilot program with an agency partner. Direct spend grew 380% from 2017 to 2018, and in 2018 the customer's aggregated commitment reached the high-seven figure mark. In the first few weeks of 2019, IZEA has received additional commitments from this customer, and Q1 2019 spend is already above the total spend in Q1 2018.

11:39 EDT Phunware Inc trading halted, volatility trading pause

11:03 EDT Keysight, CharIN collaborate for CCS for battery-powered vehicles - Keysight Technologies is now a member of the CharIN association which speeds the advancement of the Combined Charging System for battery powered vehicles. In support of CharIN's efforts to establish a global standard for electric vehicle charging, Keysight will offer expertise in charging communication protocols, power electronics, electromagnetic compatibility, and measurement technology. To drive e-mobility innovations and concepts on a global basis, Keysight will actively support the implementation of direct current fast chargers, as well as join forces with CharIN to help guarantee interoperability between electric vehicles and charging stations.

10:28 EDT State Street targeting 4% productivity savings in FY19 - State Street is targeting 4% productivity savings which would result in approximately 1% underlying expense reduction. The firm sees slowing global growth, market forward interest rates, modest 5% growth in equity markets, and light flows as well as muted client activity in the market and operating environment during 2019. In capital return, the firm is targeting total payout greater than 80%. The firm is reinstating its share repurchases and sees repurchasing up to $600M in stock by June 30. Management is reinitiating capita returns and aggressively managing expenses in FY19. Management noted the firm is better positioned for the FY19 CCAR cycle. Comments and guidance provided during Q4 earnings conference call and presentation slides.

10:02 EDT Kura reports new findings from previously conducted tipifarnib Phase 3 trial - Kura Oncology reported new findings identifying a potential association between CXCL12 expression and clinical benefit in patients with pancreatic cancer treated with tipifarnib. These findings are being presented today at the 2019 Gastrointestinal Cancers Symposium, the company announced. "We are very encouraged by these results, which we believe support the development of tipifarnib in pancreatic cancer. In December 2018, we presented prospective proof-of-concept data in peripheral T-cell lymphoma which we believe validated our initial observations on tipifarnib as a CXCL12 pathway inhibitor in lymphoma and acute myeloid leukemia. This study now extends the therapeutic potential of tipifarnib to pancreatic cancer, and we intend to explore opportunities for further development of tipifarnib in this and other CXCL12-expressing hematologic and solid tumor indications," said Antonio Gualberto, Head of Development and Chief Medical Officer of Kura Oncology.

10:00 EDT VelocityShares 3x Long Natural Gas ETN falls -8.1% - VelocityShares 3x Long Natural Gas ETN is down -8.1%, or -$4.44 to $50.50.

10:00 EDT Zayo Group rises 7.0% - Zayo Group is up 7.0%, or $1.79 to $27.42.

10:00 EDT VF Corp. rises 12.7% - VF Corp. is up 12.7%, or $9.31 to $82.57.

09:50 EDT Zealand Pharma AS (ADS) trading resumes

09:47 EDT CVR Refining falls -4.7% - CVR Refining is down -4.7%, or -52c to $10.51.

09:47 EDT Nautilus falls -37.8% - Nautilus is down -37.8%, or -$4.46 to $7.33.

09:47 EDT VelocityShares 3x Inv Natural Gas ETN rises 8.4% - VelocityShares 3x Inv Natural Gas ETN is up 8.4%, or $6.00 to $77.09.

09:45 EDT Zealand Pharma AS (ADS) trading halted, volatility trading pause

09:34 EDT Windstream Wholesale to expand long-haul core network into Canada - Windstream Wholesale announced that it will use existing long-haul fiber assets to expand its core network by over 200 miles into Montreal, Quebec. The expansion will connect Windstream's network within Cologix's Montreal ecosystem, including its MTL3 data center at 1250 Rene-Levesque. Cologix is the leading data center operator in the Montreal market with nine data centers and over 400,000 square feet of space with connections to all the major cloud service providers in the industry. "This Network expansion supports our continued mission to connect people and empower business to a world that enables infinite possibilities," said Buddy Bayer, chief network officer at Windstream. "With the demand level for services we're experiencing, it just made logical sense to utilize our fiber assets and expand the core network into Cologix's Montreal ecosystem allowing any of their customers to cross-connect to Windstream for service."

09:32 EDT York Water announces settlement of rate case - Jeffrey Hines, President and CEO of The York Water Company, announced that the Pennsylvania Public Utility Commission approved a settlement at its January 17 meeting, allowing an increase in base rates for water and wastewater customers of The York Water Company. The settled rates provide for cost recovery for York Water, while maintaining affordability to customers. It is estimated that the settlement will increase the average residential water bill for customers using 4,001 gallons from $42.81 per month to $43.93 per month, or just over $1 per month.

09:26 EDT U.S. Xpress Enterprises to record non-cash, pre-tax charge of $12.3M in Q4 - The Company expects to record a non-cash, pre-tax charge of approximately $12.3M in the fourth quarter of 2018 to reflect the write down of the total investment in Xpress Internacional, which U.S. Xpress had operated since 2007. In addition, the Company expects to incur one-time expenses during the first quarter of 2019 related to the transition plan to shut down its domestic infrastructure that supported the cross border business, this expense is not expected to exceed $4M. on a pre-tax basis. The plan is estimated to have the following annualized financial impact following full implementation and collection of all installments of deferred proceeds: ($39.2M) on consolidated revenue, $10M on consolidated operating income, $20M on consolidated cash proceeds. The Company expects to repay debt with the cash proceeds generated from the exit. In the fourth quarter, the Company's residual investment of 10% of the common equity of Xpress Global Systems was extinguished. The investment was carried at a value of approximately $1M and will be recorded as a loss on investment with an after-tax impact of approximately 2c per diluted share.

09:22 EDT U.S. Xpress Enterprises announces disposition of investment in U.S.-Mexico ops - U.S. Xpress Enterprises announced its plan to exit its U.S. - Mexico cross border investment as part of its ongoing capital allocation and profit improvement initiatives. When fully implemented, the plan is expected to reduce current and planned invested capital by approximately $40M, improve the Company's consolidated operating margin, and offer customers continued access to cross border service through a variable cost alternative. In connection with this plan, as well as the disposition of its remaining 10% equity investment in a former subsidiary, the Company expects to record an approximate $12.3M non-cash, pre-tax loss on equity investments for the fourth quarter of 2018. These changes mark the latest step in the Company's continued execution of its strategic overhaul designed to drive operational improvement as U.S. Xpress strives to deliver its third consecutive year of margin improvement in 2019. The plan will be executed in stages over the next several months. The Company's cross border business consists of 95% equity ownership in Xpress Internacional. In addition, to serve the business the Company maintains fixed investments in the United States consisting of a trucking terminal in Laredo, Texas, approximately 700 incremental dry van trailers, and tractor capacity allocated toward serving freight to and from the border. Including the allocated cost of the U.S. investments and personnel, the cross border business generated approximately $50M in revenue but insignificant operating income in 2018. As part of U.S. Xpress's ongoing transformation, the Company made the decision to exit its fixed cost investment in the cross border business and sold its investment in the Mexican entity to the existing managers. The operational transition is expected to be complete during the second quarter of 2019. The exit involves the following components, which will be executed over the next several months: Sale of the Company's 95% equity ownership of Xpress Internacional for an estimated $4.5M in cash and an additional $8.5M in cash to be received over 8.5 years. The equity sale has been completed. Closing and sale of the Company's trucking terminal in Laredo, Texas, and disposition of approximately 700 dry van trailers allocated toward the Mexico business as these trailers complete the transition phase. The terminal is valued at an estimated $7M, and the trailers had been slated for replacement over the next two years at an estimated cost of $20M. This operational transition is anticipated to be completed during 2019. Repositioning approximately 300 domestic tractors from loads to and from the border to more profitable loads through network optimization over a transition period, while continuing to offer customers ongoing access to cross-border service on a variable cost basis through relationships with our former partners, anticipated to be completed in 1H19.

09:11 EDT Schlumberger says expects to be in 'low end of range' of Q1 seasonal slowdown - Says likely to produce more cash in FY19 vs. FY18.

09:01 EDT Arthur J. Gallagher acquires Interstate Insurance Underwriters - Arthur J. Gallagher acquired Shreveport, Louisiana-based Interstate Insurance Underwriters. Terms of the transaction were not disclosed. Founded in 1963, Interstate Insurance Underwriters is a managing general agency offering a variety of property/casualty coverages through agents and brokers throughout the state of Louisiana, with a focus on general liability, property, garage and inland marine risks.

08:56 EDT Schlumberger says sees FY19 fleet equipment CapEx $1.5B-$1.7B - Says doesn't see any "significant consumption" of cash for M&A in 2019. Comments from company's Q4 earnings conference call.

08:50 EDT Precision Therapeutics CEO Carl Schwartz invests $1M in the company - Precision Therapeutics announced that its CEO and director, Carl Schwartz, has made an additional investment of $1M in the company, effective January 8. Of this investment, $950,000 was a loan under an amended and restated promissory note, which now covers advances of $1.32M including a previous loan Schwartz made in November 2018. He also purchased 78,125 shares of the company's common stock in a private investment for $50,000, representing a price of 64c er share. As part of the investment, which is detailed in a Form 8-K filed with the United States Securities and Exchange Commission, Schwartz also received additional warrants to purchase company common stock. In addition, Schwartz, since assuming the role of CEO, has elected to take his salary in the form of stock options, rather than cash, which further increases his equity stake in the company.

08:31 EDT Tyme Technologies trading resumes

08:23 EDT EDAP TMS announces Focal One sale to Brooklyn medical center - EDAP TMS announced that Brooklyn, New York's Maimonides Medical Center has become the second hospital in the United States, and the first on the East Coast, to acquire the Focal One high intensity focused ultrasound, or HIFU, technology. Maimonides Medical Center urologists were recently trained on the use of Focal One and will begin to schedule the outpatient treatments for eligible patients with localized prostate cancer in February.

08:14 EDT Alkaline Water enters agreement with WSO to expand production, distribution - Alkaline Water announced it has entered into a management and services agreement with Austin, Texas-based Water Source One, or WSO, to expand its production and distribution capabilities. Under the agreement, Water Source One will assist the company in managing the production and distribution of its flagship Alkaline88 premium bottled alkaline drinking water across the United States, including providing customer service and regulatory support, quality assurance management, and raw materials and logistical support. As WSO is one of the country's producers and suppliers of bottled water products, the company is confident that this partnership will allow it to aggressively scale the Alkaline88 brand. Water Source One supplies from more than 30 strategically placed bottling facilities located across the U.S. that all meet or exceed FDA regulations and are safe quality food certified. These facilities are expected to enable the company to lower shipping costs and solidify its growing national manufacturing footprint. Water Source One has the manufacturing capability to support the growing demand the company is seeing for its products and to enable it to scale production and distribution as the Alkaline88 brand continues to expand. The company expects to benefit from Water Source One's experienced management team. Many WSO team members are long-term veterans from major beverage companies.

08:10 EDT Bio-Path Holdings announces 1-for-20 reverse stock split - Bio-Path Holdings announced a 1-for-20 reverse stock split of its issued and outstanding common stock, which was previously approved by the company's board and stockholders. The reverse stock split became effective on January 17 and the company's shares of common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market at the commencement of trading under the company's existing symbol. The company's common stock has been assigned a new CUSIP number of 09057N300 in connection with the reverse stock split. As a result of the reverse stock split, every 20 shares of common stock issued and outstanding were consolidated into one issued and outstanding share. The reverse stock split reduced the company's issued and outstanding shares of common stock from approximately 22.2M to approximately 1.1M. In addition, proportionate adjustments will be made to the exercise prices of the company's outstanding stock options and warrants and to the number of shares issued and issuable under the company's existing stock incentive plans.

08:08 EDT Fuel Tech to suspend pollution control operation in China subsidiary - Fuel Tech announced the planned suspension of its Air Pollution Control business operation in China. This action is part of Fuel Tech's ongoing operational improvement initiatives designed to prioritize resource allocation, reduce costs, and drive profitability for the Company on a global basis. The transition associated with the suspension of the APC business is underway, and includes staff rationalization, supplier and partner engagement, and the monetization of certain assets. The Company expects to complete the process by the end of the second quarter of 2019. For the full year ended December 31, 2017 and nine months ended September 30, 2018, revenues at Beijing Fuel Tech were $8M and $2.4M, respectively, and operating losses totaled $1.7 million and $1.6 million, respectively. The Company expects to record charges associated with the suspension of the APC operation at Beijing Fuel Tech in 2019, however, these amounts have not yet been established. CEO Vincent Arnone said, "The operational improvement initiatives undertaken by Fuel Tech over the last few years have significantly lowered the Company's expense profile, narrowed operating losses, and allowed the Company to maintain a strong cash position. Fuel Tech returned to operating profitability in Q3 2018, driven by a 19% increase in total revenue and a 17% decline in SG&A compared to the prior year period. We reiterate our forecast for continuing operational improvement in 2018 when compared to 2017. This includes higher total revenues, profitability from continuing operations, and positive cash flow generation."

08:07 EDT KB Smart Home System with Google Assistant to come standard in SoCal communities - KB Home (KBH) announced that the KB Smart Home System will be offered as a standard feature at two of its Orange County communities: Highmark at Ironridge in Lake Forest and Prado at Cadence Park in Irvine. The KB Smart Home System, which leverages the power of Google Assistant (GOOG, GOOGL) to integrate a curated selection of voice- and smartphone-controlled features, will also be available as an option for all buyers who purchase a new KB home at any of the builder's other communities in Orange and San Diego counties. "We are pleased to be the first homebuilder in Southern California to enter a partnership with Google," said Steve Ruffner, regional president for KB Home. The KB Smart Home system features top-of-the-line products and is designed to accommodate additional emerging technologies as they come to market. The components include: Google Wifi "mesh" network that is designed to deliver consistently strong and secure signal throughout the home; Two smart speakers, including a Google Home, and a Google Home Mini, with voice control and automation by Google Assistant; Nest Hello Video Doorbell; Professional installation and integration of all devices for seamless interconnectivity.

08:03 EDT GameStop announces global holiday sales of $2.63B - GameStop reported sales results for the nine-week holiday period ended January 5. Total global sales for the holiday period were $2.63B, a 5% decrease compared to the 2017 nine-week holiday period ended December 30, 2017. Total comparable store sales increased 1.5%, including a 3.6% increase in the U.S. partially offset by a 3.1% decrease internationally. Comparable store sales are calculated comparing the nine weeks ended January 5 to the nine weeks ended January 6, 2018 in order to ensure the appropriate weeks around the holiday are compared. The primary contributor to the difference between the increase in comparable store sales and the decrease in total company sales is the shift in the company's fiscal calendar for the 53rd week in fiscal 2017 and the timing of the Call of Duty launch.

07:55 EDT Tyme Technologies trading halted, news pending

07:33 EDT Sunoco acquires fuel distribution businesses, sells ethanol facility to Attis Industries - Sunoco (SUN) completed the acquisition of the wholesale fuel distribution business from Schmitt Sales and the execution of a definitive agreement to acquire certain convenience store locations from Speedway. Sunoco will convert the acquired convenience store locations to wholesale distribution sites. Combined, these wholesale fuels businesses distribute approximately 180 million gallons of fuel annually in the Upstate New York, Ohio, Pennsylvania and West Virginia markets. Total consideration for both acquisitions is approximately $50M plus working capital adjustments. Sunoco will fund the transactions with cash on hand and amounts available under its revolving credit facility. These transactions are expected to be accretive to Sunoco with respect to distributable cash flow in the first year. Additionally, Sunoco executed a definitive asset purchase agreement with Attis Industries (ATIS) for the sale of Sunoco's ethanol plant in Fulton, New York. As part of the transaction, Sunoco will enter into a 10-year ethanol offtake agreement with Attis. Total consideration for the divestiture is $20M in cash. Sunoco expects to use the proceeds to repay indebtedness. The transaction is expected to close in Q1.

07:14 EDT Celgene enters strategic collaboration with Obsidian Therapeutics - Obsidian Therapeutics announced a strategic collaboration with Celgene for the discovery and development of novel, regulated cell therapies that utilize Obsidian's Destabilizing Domain, or DD, technology. Specifically, the collaboration is based on Obsidian's DD technology for the controlled expression of two immunomodulatory factors, IL12 and CD40L, that have the potential to augment the power of adoptive cell therapies but require precise control to optimize their therapeutic benefit. This multi-year collaboration provides Celgene with the exclusive option to in-license worldwide rights for cell therapy candidates that incorporate DD-regulated IL12 or CD40L for the treatment of cancer. The collaboration includes an upfront payment and equity investment by Celgene, and potential future milestone and royalty payments.

07:12 EDT VF Corp. up 8% to $79.00 after raising FY19 outlook

07:12 EDT Schlumberger says oil price volatility creates uncertainty around E&P spending - Schlumberger Chairman and CEO Paal Kibsgaard commented, "Looking forward to 2019, we expect a more positive supply- and demand-balance sentiment to lead to a gradual recovery in the price of oil over the course of the year, as the OPEC and Russia cuts take full effect; the effect of lower activity in North America land in the second half of 2018 impacts production growth; the dispensations from the Iran export sanctions expire and are not renewed; and as the US and China continue to work toward a solution to their ongoing trade dispute. In the meantime, the recent oil price volatility has introduced more uncertainty around the E&P spending outlook for 2019, with customers generally taking a more conservative approach at the start of the year. This will once again push out in time the broad-based recovery in E&P spending that we expected only three months ago. However, based on our recent discussions with customers, we are seeing clear signs that E&P investments are starting to normalize and reflect a more sustainable financial stewardship of the global resource base. For the North America land E&P operators, this means that future investments will likely be much closer to the level that can be covered by free cash flow. Conversely, in the international markets apart from the Middle East and Russia, after four years of underinvestment and a focus on maximizing cash flow, the NOCs and independents are starting to see the need to invest in their resource base simply to maintain production at current levels. For Schlumberger, this means that even with the current oil prices, we expect solid, single-digit growth in the international markets while in North America land, the increased cost of capital and focus on aligning investments closer to free cash flow has introduced more uncertainty to the outlook for both drilling and production activity. In this environment, we have built significant flexibility into our operating plan for 2019, which gives us the means and confidence to address any investment and activity scenario. Furthermore, the foundation for our 2019 plans is a clear commitment to generate sufficient cash flow to cover all our business needs, without increasing net debt. After a very strong free cash flow performance in the second half of 2018, we are confident in our ability to further improve our liquidity position in 2019, through our focus on top-line growth, incremental margins, capital discipline, and careful management of working capital."

07:03 EDT AstraZeneca reports Linzess approved in China for IBS-C - AstraZeneca (AZN) announced that its partner Ironwood Pharmaceuticals (IRWD) has received marketing authorization from the National Medical Products Administration for Linzess in China for the treatment of adult patients with irritable bowel syndrome with constipation, or IBS-C. Launch of Linzess in China is expected in the second half of 2019. Under the terms of the collaboration, AstraZeneca will record Product Sales and share the net profits and losses associated with Linzess in China, with AstraZeneca carrying 55% of each until a certain specified milestone is achieved, moving to a 50/50 split thereafter. Ironwood will also be eligible for up to $125M in additional commercial milestone payments contingent on the achievement of certain sales targets.

07:03 EDT Avrobio announces FDA acceptance of AVR-RD-04 IND application - Avrobio announced that its investigational gene therapy candidate for cystinosis, AVR-RD-04, is cleared to begin a Phase 1/2 clinical trial, following acceptance of the investigational new drug, or IND, application by the FDA. The Phase 1/2 clinical trial is a planned investigator-sponsored trial to be conducted by the University of California, San Diego. AVR-RD-04 is designed as one-time gene therapy and is being investigated for the treatment of cystinosis by inserting the functional gene for human cystinosin, or CTNS, and is designed to maximize the likelihood of sustained CTNS production in patients to correct for the single-gene defect in the CTNS gene that causes cystinosis.

07:01 EDT Whirlpool names Gilles Morel as new President of EMEA region - Whirlpool announced Gilles Morel as President of the Europe, Middle East and Africa Region and Executive Vice President. In this role, he will report directly to Chairman and CEO Marc Bitzer. Morel brings more than 25 years' experience in the consumer goods industry, leading sales, operations, marketing, manufacturing, research and development, and procurement, including several regional leadership roles. His role with Whirlpool is effective April 1.

06:58 EDT VF Corp. sees FY19 adjusted gross margin at least 51% - Adjusted operating margin is expected to increase 90 basis points to 13.6%.

06:54 EDT Fanhua comments on unusual trading activities - Fanhua issued a statement in response to the unusual trading activities that occurred on January 17: "The unusual stock trading volatility was caused by a report which made groundless accusations and deliberate out-of-context misinterpretation, in an attempt to profit from the decline of the stock price of the company through short selling attack. The company strongly condemns such a malicious act. The company has consistently and strictly complied with SEC rules and regulations including the requirements for fair, prompt and full disclosure, for the past 11 years as a publicly listed company on Nasdaq. The company has also strictly abided by applicable laws and regulations in its business operations. The company's cashflow and profits have been closely aligned. The management remain committed to fulfilling their fiduciary duties to shareholders with continued profit growth and dividend increase. In line with its commitment to protect investors' interests, the company is carefully reviewing the report and will make an announcement clarifying and refuting the allegations raised in the report in an open and transparent manner, before market opens on January 22, 2019 (...)."

06:47 EDT Tiffany says expects to report record levels of net sales, net earnings in FY18 - Alessandro Bogliolo, CEO, said, "With continued strong sales growth in mainland China (by a double-digit percentage), solid results in Japan and healthy growth in global ecommerce sales, overall holiday sales results came in short of our expectations which had called for modest year-over-year growth. We attribute the difference partly to lower sales to foreign (primarily Chinese) tourists globally, and to softening demand attributed to local customers in the Americas and Europe, which we believe may have been influenced more than expected by external events, uncertainties and market volatilities." Bogliolo added, "As I reflect on 2018, we accomplished what we set out to achieve. By increasing the levels of strategic investment spending in certain areas, we recovered lost ground from several years of soft sales trends and we expect to report record levels of net sales and net earnings in fiscal 2018. Now the focus is to grow to new heights. To this purpose, we will continue to pursue the six key strategic priorities we introduced earlier in 2018 (Amplifying an evolved brand message; Renewing our product offerings and enhancing in-store presentations; Delivering an exciting omnichannel customer experience; Strengthening our competitive position and leading in key markets; Cultivating a more efficient operating model; and Inspiring an aligned and agile organization to win) which will require our on-going effort and commitment for years to come. We are excited about making further meaningful progress on this journey in 2019, with plans for new product launches, an evolved marketing message, store expansions and website enhancements. We acknowledge that external pressures, difficult year-over-year sales comparisons and annualized internal spending are expected to have some negative effects on fiscal 2019 results, mostly in the first half of the year, but we believe that Tiffany is on a solid path for improved sales, margins, earnings and cash flow generation over the long-term."

06:45 EDT Tiffany says expects to report record levels of net sales, net earnings in FY18 - Alessandro Bogliolo, CEO, said, "With continued strong sales growth in mainland China (by a double-digit percentage), solid results in Japan and healthy growth in global ecommerce sales, overall holiday sales results came in short of our expectations which had called for modest year-over-year growth. We attribute the difference partly to lower sales to foreign (primarily Chinese) tourists globally, and to softening demand attributed to local customers in the Americas and Europe, which we believe may have been influenced more than expected by external events, uncertainties and market volatilities." Bogliolo added, "As I reflect on 2018, we accomplished what we set out to achieve. By increasing the levels of strategic investment spending in certain areas, we recovered lost ground from several years of soft sales trends and we expect to report record levels of net sales and net earnings in fiscal 2018 (see "Fiscal 2018 Outlook" below). Now the focus is to grow to new heights. To this purpose, we will continue to pursue the six key strategic priorities we introduced earlier in 2018 (Amplifying an evolved brand message; Renewing our product offerings and enhancing in-store presentations; Delivering an exciting omnichannel customer experience; Strengthening our competitive position and leading in key markets; Cultivating a more efficient operating model; and Inspiring an aligned and agile organization to win) which will require our on-going effort and commitment for years to come. We are excited about making further meaningful progress on this journey in 2019, with plans for new product launches, an evolved marketing message, store expansions and website enhancements. We acknowledge that external pressures, difficult year-over-year sales comparisons and annualized internal spending are expected to have some negative effects on fiscal 2019 results, mostly in the first half of the year, but we believe that Tiffany is on a solid path for improved sales, margins, earnings and cash flow generation over the long-term."

06:35 EDT Citizens Financial CEO says increasing ROTCE target to 14%-16% - "We are pleased to end the year with another quarter of strong results for Citizens, continuing our track record of consistent execution and delivering against our goals," said Chairman and CEO Bruce Van Saun. "We are executing well and head into 2019 with good momentum as evidenced by our continued strong operating leverage, balance sheet growth, expanding customer base and broadening of our capabilities, including our recent acquisition of Clarfeld Financial Advisors." Van Saun continued, "We are pleased to have already achieved the lower end of our medium-term ROTCE target and are now increasing the range to 14 to 16 percent. Our strong performance has allowed us to raise our dividend today by a further 19%, as we continue to deliver strong value for all our stakeholders."

06:32 EDT CVS, Walmart announce new PBM pharmacy network agreement, terms not disclosed - CVS Health (CVS) and Walmart (WMT) announced the companies have reached a multi-year agreement on terms under which Walmart will continue participating in the CVS Caremark pharmacy benefit management, or PBM, commercial and Managed Medicaid retail pharmacy networks. The companies are not disclosing the financial terms of the new contract. With the continuing participation of Walmart, the CVS Caremark national pharmacy network will have nearly 68,000 participating pharmacies for members to choose from, including independently-owned, community-based pharmacies, other local pharmacies in grocery stores and mass merchants, as well as regional and national chains. Walmart and CVS Health already have an existing agreement in place for Walmart's participation in the CVS Caremark Medicare Part D pharmacy network. In addition, Walmart's Sam's Club division has an existing agreement to participate in the CVS Caremark pharmacy networks.

06:31 EDT CVS Health, Walmart announce new PBM pharmacy network agreement

06:16 EDT CorVel promotes Michael Combs to CEO, effective January 18 - CorVel announced that its Board of Directors has promoted the company's President, Michael Combs, to also serve as its CEO, effective January 18. Combs was previously promoted to President in April 2017 and served as Chief Information Officer from April 2015 to April 2017. Combs has been with the company for more than 27 years, joining the company as a software engineer in October 1991. His prior positions at the company include Vice President of Bill Review Development and Deputy Chief Information Officer.

06:14 EDT Globant to acquire Avanxo - Globant announced it has entered into a binding agreement to acquire Avanxo, a cloud transformation company with presence in the United States, Brazil, Mexico, Colombia, Peru and Argentina. Subject to completion of certain requirements set forth in the purchase agreement, the transaction is expected to close in February. With this acquisition, Globant continues to focus its capabilities in creating digital experiences for large organizations worldwide, expanding its broad expertise in corporate process optimization and cloud technologies. Avanxo pioneered the cloud system integration market in Latin America.

06:07 EDT Tesla sees GAAP profit in Q4, 'but less than Q3' - Elon Musk said in an email to Tesla employees, "This quarter, as with Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit."

06:05 EDT Tesla: Road ahead is 'very difficult'

06:03 EDT Tesla: Products still too expensive for most people

06:03 EDT Tesla to reduce full-time employee headcount by approximately 7% - In a memo to employees by CEO Elon Musk posted on Tesla's website, Musk said: "In Q3 last year, we were able to make a 4% profit. While small by most standards, I would still consider this our first meaningful profit in the 15 years since we created Tesla. However, that was in part the result of preferentially selling higher priced Model 3 variants in North America. In Q4, preliminary, unaudited results indicate that we again made a GAAP profit, but less than Q3. This quarter, as with Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit. However, starting around May, we will need to deliver at least the mid-range Model 3 variant in all markets, as we need to reach more customers who can afford our vehicles. Moreover, we need to continue making progress towards lower priced variants of Model 3. Right now, our most affordable offering is the mid-range (264 mile) Model 3 with premium sound and interior at $44k. The need for a lower priced variants of Model 3 becomes even greater on July 1, when the US tax credit again drops in half, making our car $1,875 more expensive, and again at the end of the year when it goes away entirely... As a result of the above, we unfortunately have no choice but to reduce full-time employee headcount by approximately 7% (we grew by 30% last year, which is more than we can support) and retain only the most critical temps and contractors. Tesla will need to make these cuts while increasing the Model 3 production rate and making many manufacturing engineering improvements in the coming months. Higher volume and manufacturing design improvements are crucial for Tesla to achieve the economies of scale required to manufacture the standard range (220 mile), standard interior Model 3 at $35k and still be a viable company. There isn't any other way." Reference Link

06:02 EDT Flir Systems awarded $89M contract from French Armed Forces - Flir Systems has been awarded a contract from the French Defense Procurement Agency in support of the French Operational Pocket Drone program. The contract has a ceiling value of $89M to provide the FLIR Black Hornet 3 nano-unmanned aerial vehicle and Personal Reconnaissance System to support French Armed Forces operations. The contract will be managed and executed by Flir in Hvalstad, Norway.

05:56 EDT MGM Resorts names Corvex's Keith Meister to board - MGM Resorts International announced that Keith A. Meister has been appointed to the company's Board of Directors, effective tomorrow, January 18, 2019. With his appointment, the company's Board has been expanded from 12 to 13 directors. Mr. Meister is Managing Partner and Chief Investment Officer of Corvex Management LP, which beneficially owns approximately 3% of MGM's outstanding shares. Mr. Meister has extensive boardroom experience and previously served as a director on the boards of Yum! Brands, Inc., The Williams Companies, The ADT Corporation, Ralcorp Holdings, Motorola, Inc./Motorola Mobility, Inc. and American Casino & Entertainment Properties, among others.

05:47 EDT Salesforce announces Salesforce Tower Dublin, to add 1,500 new jobs in Ireland - Salesforce announced Salesforce Tower Dublin, significantly expanding the company's regional headquarters in Ireland. As part of the expansion, Salesforce plans to add 1,500 new local jobs over the next five years. Salesforce.org, the philanthropic arm of Salesforce, also announced a $1 million grant to Educate Together, supporting the opening and running of schools in Ireland. Today's announcements were made with the Irish Prime Minister, An Taoiseach Leo Varadkar TD at an event in the Convention Centre Dublin where nearly 1,000 Salesforce employees were present to hear details of the new plans. Salesforce Tower Dublin will be an urban campus of four interconnected buildings located on North Wall Quay within Dublin's vibrant Silicon Docks, overlooking the River Liffey. Salesforce employees are due to start moving into the 430,000 Sq ft campus in mid-2021. Salesforce Tower Dublin is being developed by Ronan Group Real Estate and Colony Capital.

05:12 EDT 111, Inc. CFO Weihao Xu to depart March 7 - 111, Inc. announced that Weihao Xu has resigned as CFO and director for personal reasons. The company has begun a process to appoint a successor to Xu and a further announcement will be made in due course. Xu will stay until March 7, 2019 to help with the transition.