Stockwinners Market Radar for May 06, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:08 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: SolarEdge Technologies (SEDG) up 18.1%... EverQuote (EVER) up 10.6%... Ducommun Inc (DCO) up 9.7%... Avid Technology (AVID) up 8.6%... AIG (AIG) up 6.8%... Xoma Corp (XOMA) up 5.8%... Clarus (CLAR) up 4.9%... Fabrinet (FN) up 4.0%... FMC Corp (FMC) up 3.9%... Ensign Group (ENSG) up 3.8%... Lannett (LCI) up 3.5%... Cohu (COHU) up 3.4%... Tactile Systems (TCMD) up 3.4%... Forterra (FRTA) up 2.0%. DOWN AFTER EARNINGS: Intersect (XENT) down 16.7%... TherapeuticsMD (TXMD) down 15.4%... Nautilus (NLS) down 13.8%... Health Insurance Innovations (HIIQ) down 13.6%... Syndax Pharma (SNDX) down 11.7%... Phibro Animal Health (PAHC) down 9.7%... La Jolla Pharma (LJPC) down 9.4%... Keane Group (FRAC) down 7.3%... Del Taco (TACO) down 6.1%... CrossAmerica Partners (CAPL) down 5.9%... Glu Mobile (GLUU) down 5.4%... Sykes Enterprises (SYKE) down 5.4%... Abraxas Petroleum (AXAS) down 5.2%... Advanced Energy (AEIS) down 4.7%... Rent-a-Center (RCII) down 4.2%... KLA-Tencor (KLAC) down 3.7%... Mosaic (MOS) down 2.7%... RealPage (RP) down 1.8%... Bloom Energy (BE) down 1.8%... National General (NGHC) down 1.5%. ALSO LOWER: Twist Bioscience (TWST) down 5.5% after equity offering. Movers as of 18:45ET.

18:42 EDT Anadarko board determines revised proposal from Occidental 'superior' - Anadarko Petroleum Corporation (APC) announced that its board of directors, in consultation with its financial and legal advisors, has unanimously determined that the revised acquisition proposal it received from Occidental Petroleum Corporation (OXY) on May 5, 2019 constitutes a "Superior Proposal" as defined in Anadarko's previously announced merger agreement with Chevron Corporation (CVX). Under the terms of the Revised Occidental Proposal, Occidental would acquire Anadarko for consideration consisting of $59.00 in cash and 0.2934 of a share of Occidental common stock per share of Anadarko common stock. Occidental has obtained committed financing for the entire cash portion of the aggregate transaction consideration, and completion of the transaction will not require or be conditioned upon the receipt of any vote or other approval by Occidental's stockholders. Anadarko has notified Chevron that Anadarko's board of directors has unanimously determined that the Revised Occidental Proposal constitutes a "Superior Proposal" and after complying with its obligations to Chevron under the Chevron Merger Agreement, Anadarko intends to terminate the Chevron Merger Agreement in order to enter into a definitive merger agreement with Occidental in connection with the Revised Occidental Proposal. Pursuant to the Chevron Merger Agreement, Chevron has the right, during the four business day period ending on May 10, 2019, which may be extended in accordance with the terms of the Chevron Merger Agreement, to propose revisions to the terms of the Chevron Merger Agreement, or to make another proposal. Anadarko is required to, and will, make its representatives reasonably available to negotiate with Chevron during this period with respect to such proposed revisions or other proposal, if any. If Anadarko terminates the Chevron Merger Agreement in order to enter into a definitive agreement with respect to the Revised Occidental Proposal, Anadarko will pay Chevron a $1 billion termination fee as required by the Chevron Merger Agreement. The Chevron Merger Agreement remains in effect unless and until terminated, and accordingly, Anadarko's Board of Directors reaffirms its existing recommendation of the transaction with Chevron at this time.

18:38 EDT Lithia Motors chairman sells 15,433 Class A common shares - In a regulatory filing, Lithia Motors chairman Sidney B. Deboer disclosed the sale of 15,433 Class A common shares of the company at a price of $114 per share.

18:13 EDT Pangaea Logistics signs new 10-year contract with Baffinland Iron Mines - Pangaea Logistics Solutions Ltd. announced the expansion of its high ice class fleet niche with a new ten year contract with its customer Baffinland Iron Mines Corporation, and the signing of a contract to build two new post-panamax 95,000 dwt dry bulk vessels at Guangzhou Shipyard International in China to support the new business. Pangaea holds options to build two more vessels at Guangzhou. Ed Coll, Chief Executive Officer of Pangaea, discussed the contracts with Baffinland and the China State Shipbuilding Corporation-affiliated Guangzhou Shipyard, "We work closely with all of our customers. Our relationship with Baffinland is special because of the extra challenges presented with high arctic shipping. The cargo contract, requiring the building of at least two new vessels with Ice Class 1A classification, marks a significant step forward in our leadership in the ice class part of our business. The new ships, with a building cost of approximately $38 million each, are Pangaea's first shipbuilding contracts in China. Guangzhou Shipyard has a long history of building ships for demanding owners, and they have experience building ice class and polar class vessels for demanding service. Our ships are custom-designed for the ice trades our Nordic Bulk Carriers subsidiary has developed over the past decade."

17:38 EDT NMI Holdings director James Ozanne sells 12K shares of company - NMI Holdings director James Ozanne disclosed in a filing that he had sold 12,000 shares of company stock at an average price of $28.16 per share on May 2, for a total transaction value of $337,879.

17:35 EDT SPDR Gold Shares holdings fall to 739.64MT from 745.52MT - This is the 3rd consecutive decline and the lowest level of holdings since October 11th, 2018.

17:22 EDT GAP Airports reports preliminary April traffic up 8.7% - GAP Airports announced preliminary terminal passenger traffic figures for the month of April compared to traffic figures for April 2018. During April, total terminal passengers increased by 8.7% at the company's 13 airports, compared to the same period of the previous year. Domestic passenger traffic increased by 7.8%, while international passenger traffic increased by 9.9%.

17:17 EDT Mueller Water reports Q2 adjusted EBITDA up 5.4% to $44.7M - The company states: "In the quarter, we generated a slight increase in net sales as the benefit from our acquisition of Krausz Industries helped offset lower volumes at both Infrastructure and Technologies. We faced challenges from slower than anticipated residential construction and severe weather, as well as the impact of the Aurora tragedy."

17:11 EDT Texas Instruments VP Niels Anderskouv sells over $6.5M in company shares - Texas Instruments VP Niels Anderskouv disclosed in a filing that he had sold 56,166 shares of company stock at $116.58 per share on April 29 for a total transaction value of $6,548,057.

17:03 EDT Vera Bradley announces designer collaboration with Starbucks - Vera Bradley (VRA) announced they will debut a collaborative drinkware and accessories collection with Starbucks (SBUX) in Asia on May 7, 2019. Rob Wallstrom, Chief Executive Officer of Vera Bradley, noted, "We are so excited to closely partner with Starbucks Asia Pacific to create a beautiful, unique and fun collection of products for their stores. This collection will help us expand our reach to a myriad of international customers and distribution points, and broaden our brand awareness to support a potential international expansion strategy." The collection will be available at select Starbucks locations throughout the Asia Pacific region, including South Korea, Thailand, Taiwan, Singapore, Hong Kong, the Philippines, Indonesia, Malaysia, Cambodia, Australia, New Zealand, and Vietnam.

16:55 EDT Van Berkom & Associates reports 5.05% passive stake in U.S. Silica - In a regulatory filing, Van Berkom & Associates disclosed a 5.05% stake in U.S. Silica, which represents nearly 3.7M shares. The filing does not allow for activism.

16:50 EDT Asur reports total April passenger traffic up 5.8% - Asur announced that total passenger traffic for April increased 5.8% when compared to April 2018. Passenger traffic rose 4.0% in Mexico, 8.2% in Puerto Rico and 10.1% in Colombia. This announcement reflects comparisons between April 1 through April 30, 2019 and 2018, as well as accumulated figures through April 30 for 2019 and 2018. Transit and general aviation passengers are excluded for Mexico and Colombia. During 2019, the impact of Holy Week on passenger traffic in Mexico began on April 12, while in 2018 it began on March 23. The recovery in passenger traffic at San Juan Airport, Puerto Rico reflects the impact of Hurricane Maria, which hit the island on September 21, 2017

16:48 EDT Osmotica Pharmaceuticals announces results of Phase 3 clinical trials of RVL - Osmotica Pharmaceuticals announced positive topline results of its second Phase 3 efficacy and safety clinical trial of RVL and long-term Phase III safety study for the treatment of ptosis. Osmotica conducted a second Phase III, randomized, multicenter, double-masked, placebo-controlled, 6-week study to evaluate the efficacy and safety of a once-daily treatment of RVL compared to placebo for the treatment of ptosis. Study 202 randomized 164 subjects in a 2:1 randomization scheme. The primary efficacy endpoint was the mean change from baseline in the RVL group versus placebo group in the number of points seen on the top 4 rows of the Leicester Peripheral Field Test, or LPFT, in the study eye at Day 1 Hour 6 and Day 14 Hour 2. The increases at both time points in the number of points seen in the superior visual field in the RVL group compared to the placebo group were statistically significant. RVL administered once daily to patients was also generally well tolerated in this study. The overall incidence of adverse events was similar to that of placebo. The topline results from Study 202 are consistent with the results of Osmotica's previously reported Phase III Study 201, which evaluated the efficacy and safety of RVL in patients with ptosis. Additionally, Osmotica conducted a 12-week, randomized, multicenter, double-masked, placebo-controlled Phase III study to evaluate the long term safety of RVL compared with placebo in the treatment of ptosis. The study included 234 patients who were randomized in a 2:1 ratio, receiving either RVL or placebo once a day. RVL was generally well tolerated in this study, and the AEs that were observed were predominantly mild in intensity. A total of 50 subjects in the RVL group and 23 subjects in the placebo group reported AEs. There were no deaths during the study. Two subjects in the RVL group experienced a Serious AE that were not considered related to study medication.

16:47 EDT Deluxe enters eCheck relationship with Hanover Insurance Group Hartford Financial - Deluxe (DLX) reached an agreement with The Hanover Insurance Group (HIG) to provide Deluxe eChecks solutions for property and casualty payment disbursement. This new relationship will allow The Hanover to provide simultaneous digital delivery of payments and related claims information through one platform.

16:44 EDT Aflac announces executive appointments - Aflac has named Max Broden senior vice president; deputy CFO and treasurer of Aflac, reporting to Aflac CFO Frederick Crawford. Broden joined Aflac in 2017 as senior vice president and treasurer. Prior to joining Aflac, he served as senior portfolio manager for Norges Bank. Aflac also named Steven Beaver senior vice president; CFO , Aflac U.S., reporting to President of Aflac U.S. Teresa L. White. Beaver joined Aflac in 2012 as vice president of Corporate Tax. He was promoted to deputy chief accounting officer in 2015. In 2018, Beaver was named senior vice president of corporate financial planning and analysis. Aflac also named Pete Kelso senior vice president; Chief Information and Technology Officer, reporting to Aflac Executive Vice President and CFO Frederick Crawford. Kelso joined Aflac in 2012 as managing director and chief investments technology officer of Global Investments.

16:41 EDT Hertz reports Q1 total U.S. RAC revenues increased 7% y/y - In Q1: Total U.S. RAC revenues increased 7% compared to the first quarter of 2018. Transaction days grew 4% driven by expanding volume to transportation network company drivers. Pricing, as measured by Total Revenue Per Transaction Day, increased 2% in the quarter, and time and mileage pricing was up 4%, driven by the highest-profit leisure categories and the TNC business year-over-year. Average vehicles were up 5%, driven by 85% growth in the company's TNC fleet. Excluding TNC, average vehicles were up 1%. Higher revenue and stable Utilization led to a 2% increase in Total RPU, an important measure of asset efficiency. Depreciation Per Unit Per Month decreased 15% on favorable vehicle acquisition prices, continued strength in residual values and an increase in the number of vehicle dispositions through the company's higher-return channels year over year. Adjusted Corporate EBITDA improved $55M in the first quarter and Adjusted Corporate EBITDA Margin expanded 380 basis points, driven by higher revenue and lower vehicle depreciation.

16:40 EDT McEwen Mining appoints Meri Verli CFO - McEwen Mining announced two new management appointments. Meri Verli will be joining as the new CFO, replacing Andrew Elinesky who is departing the company effective today; and Jack Henris will be joining as general manager for Nevada effective today. Verli was most recently the CFO of PPX Mining Corp since October 2017.

16:40 EDT Intersect ENT trading resumes

16:38 EDT iStar raises quarterly dividend 11% to 10c per share - The dividend is payable on May 31 to holders of record on May 15.

16:37 EDT Diplomat Pharmacy names Dave Loschinskey as COO - Diplomat Pharmacy announced that the company's board of directors has appointed Dave Loschinskey to serve as COO, effective May 2. In addition, Gary Rice will retire from his position as executive vice president of operations effective May 17. Prior to being appointed to chief operating officer, Loschinskey served as Diplomat's chief information officer.

16:36 EDT CHF Solutions appoints Nestor Jaramillo, Jr. as Chief Commercial Officer - CHF Solutions announced it has hired Nestor Jaramillo, Jr. as its new Chief Commercial Officer, effective May 7, 2019. Prior to joining CHF Solutions, Jaramillo was president and CEO of Innerspace Neuro Solutions.

16:34 EDT Eventbrite launches localised Hong Kong platformFacebook - Eventbrite (EB) announced its launch in Hong Kong with "new features designed to empower local event creators". The company expects its localised platform at eventbrite.hk to be "one of the first in Asia to benefit from Eventbrite's 'Publish To Facebook (FB)' feature - an integration allowing event-goers to purchase tickets directly through Facebook - alongside payment processing in Hong Kong Dollars."

16:33 EDT FMC Corporation raises FY19 adjusted EBITDA view to $1.18B-$1.22B - Prior view was $1.165B-$1.205B.

16:30 EDT Proofpoint to acquire Meta Networks - Proofpoint has entered into a definitive agreement to acquire Meta Networks. With this acquisition, Proofpoint "will strengthen its cloud-based architecture and people-centric security platform, enabling customers to better protect their people and the applications and data they access beyond the traditional perimeter." The agreement is subject to customary closing conditions and is expected to close in Q2. The purchase price for the transaction is approximately $111M in cash and approximately $9M in Proofpoint common stock and options. Proofpoint's acquisition of Meta Networks is not expected to materially impact its financial guidance or results of operations for the year ending December 31. Proofpoint is considering the repatriation of acquired intellectual property associated with this acquisition which - if executed - would result in a one-time cash income tax expense during Q3 or Q4.

16:30 EDT Brighthouse Financial boosts stock buyback plan by $400M - Brighthouse Financial announced that it has authorized the repurchase of up to $400M of common stock. This stock repurchase authorization is in addition to the $200M stock repurchase authorization announced in August 2018. During Q1, the company repurchased $52M of its common stock, with an additional $14M of its common stock repurchased in April 2019, bringing total repurchases pursuant to the August 2018 authorization to $171M through April 30, 2019. "We are pleased to announce this second stock repurchase program, which contributes significantly to our goal of returning $1.5 billion of capital to our shareholders by 2021," said Eric Steigerwalt, CEO Brighthouse Financial. "This additional program reflects our financial strength and ongoing commitment to returning capital over time."

16:27 EDT U.S. Silica receives U.S. patent on solar reflectance technology - U.S. Silica Holdings announced that the United States Patent and Trademark Office has issued U.S. Patent 10253493, entitled "Particulates having high total solar reflectance." The patent covers solar reflective particulate composition used for U.S. Silica's White Armor Cool Roof Granules. White Armor durable white granules reflect the sun's heat instead of absorbing heat and transferring it to the building below. Customer results indicate that at least 70% of solar heat is reflected with White Armor Cool Roof Granules featuring the patented particulate composition.

16:25 EDT Asur reports total April passenger traffic up 5.8% - Grupo Aeroportuario del Sureste announced that total passenger traffic for April increased 5.8% when compared to April 2018. Passenger traffic rose 4.0% in Mexico, 8.2% in Puerto Rico and 10.1% in Colombia. This announcement reflects comparisons between April 1 through April 30, 2019 and 2018, as well as accumulated figures through April 30 for 2019 and 2018. Transit and general aviation passengers are excluded for Mexico and Colombia. During 2019, the impact of Holy Week on passenger traffic in Mexico began on April 12, while in 2018 it began on March 23. The recovery in passenger traffic at San Juan Airport, Puerto Rico reflects the impact of Hurricane Maria, which hit the island on September 21, 2017.

16:24 EDT Rent-A-Center reports Q1 total SSS up 6.8%

16:22 EDT Qiagen announces new $100M share buyback

16:16 EDT Syndax sees FY19 total operating expenses $60M-$64M - Sees FY19 R&D expenses $46M-$50M. Sees Q2 R&D expenses $9M-$10M and Q2 total operating expenses $13M-$14M.

16:15 EDT Kennametal sees FY19 CapEx $200M-$220M - Sees FY19 free operating cash flow of $120M-$140M.

16:12 EDT SinglePoint Group to acquire General Revenue Corporation from Navient - SinglePoint Group International announced it has reached an agreement to acquire General Revenue Corporation, GRC, from Navient. The transaction is expected to close on June 30, subject to certain conditions. Terms of the agreement were not disclosed.

16:10 EDT Del Taco reports Q1 SSS down 0.1% - Reports Q1 adjusted EBITDA $12.1M vs. $13.9M last year. Q1 company-operated SSS decreased 0.6%. Company-operated comparable restaurant sales were comprised of average check growth of 4.9%, including 1% of menu mix growth, offset by a transaction decline of 5.5%. Q1 franchised comparable restaurant sales grew 0.4%.

16:07 EDT RingCentral, Zoom Video announces multi-year partnership extension - RingCentral, Inc. (RNG) and Zoom Video Communications, Inc. (ZM) announced a multi-year extension of their partnership. This extension will allow RingCentral customers to continue replacing their legacy on-premise communications infrastructure with a best-in-class solution that leverages the combined power of RingCentral's cloud PBX and Zoom's video communications platform. "We have had a strong partnership with RingCentral over many years, enabling them to bring our frictionless video platform to their global customers," said Eric S. Yuan, Founder, Chairman and CEO of Zoom. "Our architecture is video-first, cloud-native and optimized to dynamically process and deliver reliable, high-quality video across all devices and spaces. We're excited to extend our relationship to enable more enterprises to replace their legacy systems with modern cloud solutions."

16:02 EDT Intersect ENT trading halted, news pending

15:11 EDT KemPharm's Mickle sees shares as 'highly undervalued,' expects change ahead - KemPharm is a clinical-stage pharmaceutical company engaged in the discovery and development of proprietary prodrugs. In an exclusive interview with The Fly, KemPharm President and CEO Travis Mickle said he believes the company's stock is "highly undervalued," but he thinks the "valuation will change itself" over the next "few quarters and years." He said: "I'm sure every single CEO believes that their company is highly undervalued. I think in this case we have eyes wide open. We know that it is highly undervalued but we also understand why. The process we've taken to partner is taking longer than we wanted by far and certainly cash has been an issue since we had to do a fundraiser last fall. With all of that understood, there's also this looming part that most development stage companies don't have, which is debt and debt service. So, we're really trying to address all of these issues. And I think as the story unfolds over the next few quarters and years, we're going to start to see a lot of that being revisited and valuation will change itself at that point." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company.

15:05 EDT Twilio announces integration with Microsoft's Azure IoT - Twilio (TWLO) announced Trust Onboard, a feature for its IoT SIMs that enables developers to identify and authenticate cellular connected devices against cloud services. "With Trust Onboard, Twilio now delivers connectivity, device identification and authentication capabilities on a single SIM, dramatically accelerating IoT time to market," the company said. At Microsoft Build, Twilio also announced integration with Azure IoT as part of Microsoft's (MSFT) "IoT Plug and Play" connectivity, allowing IoT developers to sync devices to their Azure cloud from the Twilio Console, "establishing trust as soon as the device comes online," the company said.

14:36 EDT Neuberger Berman reports 5.46% passive stake in SeaChange - In a regulatory filing, Neuberger Berman disclosed a 5.46% stake in SeaChange, which represents 1.99M shares. The filing does not allow for activism.

14:24 EDT ADW Capital accuses Select Interior execs of 'intransigence,' 'failure' - ADW Capital sent a letter to shareholders of Select Interior Concepts highlighting the management team's "intransigence" and "failure to create shareholder value. ADW said that it urged Select Interior in a previous letter to begin exploring a strategic alternatives process to best monetize the value of the company's coveted assets, which in aggregate it believes are worth nearly $40 per share. "We feel it is incumbent upon us to enlighten you, the true economic owners of Select Interior Concepts, on this Board of Directors and Management Team's intransigence regarding maximizing shareholder value," the firm said. "Indeed, some recent developments represent some of the worst capital allocation decisions we have ever seen." ADW said that its regular inquiries into the company have recently uncovered a "harrowing pattern of poor judgment and capital allocation follies," pointing to the spending of about $14M incrementally in corporate G&A last year. "Moreover, the Company's proxy statement provides us with further evidence of poor judgment and actions we do not believe are in the best interests of shareholders," ADW said. "We were appalled to discover that the wife of demoted CFO, Kendall Hoyd - who now heads RDS, Sharon Hoyd, received compensation of $203,414 for her "consulting" services in 2018. This relationship gave us pause and reinforced our belief that SIC may have become a "honey pot" to executives of the Company, especially considering Mr. and Ms. Hoyd can be seen on Instagram hobnobbing in Italy and enjoying luxurious European wine tours. We also find it perplexing that per his Instagram, Kendall Hoyd was gleefully at Trevi Fountain in October 2018 while his "Rome" at home was burning with shares of SIC nose-diving and shareholders capitulating." ADW added that it demands "complete disclosure" of conflicts of interest in accordance with the company's code of conduct and an immediate investigation by the board of directors.

13:54 EDT KemPharm CEO says KP879 would address 'completely unmet need' - KemPharm is a clinical-stage pharmaceutical company engaged in the discovery and development of proprietary prodrugs. In an exclusive interview with The Fly, KemPharm President and CEO Travis Mickle discussed the company's KP484 and KP879, which also utilize its prodrug of methylphenidate: "KP484 is really the cousin of the '415. It's intended mainly for adults, for patients who need all day coverage of their ADHD symptoms and typically adults that have longer days. That product is a little bit behind KB415; for '415 we plan to submit the NDA here shortly, end of second/beginning of the third quarter. But our goal here is: whoever we end up licensing this program to will work with us to continue the development of that program and will decide mutually on the best timing for submission launch for that product. KP879 is a product that we actually derived out of the similar technology for the first two, and is intended for stimulant use disorder, which is a completely unmet need. There are no products right now that are used to treat stimulant use disorder. These are individuals who are addicted to methamphetamine, cocaine and other stimulants. Opioids have their treatment options like methadone and buprenorphine products. But there's really nothing to help these individual patients and so they have a very high relapse rate after treatment - inpatient or outpatient treatment. We feel there's a great opportunity. We feel that the product that we've developed would have a low abuse potential and that's really ideal for these patients that really would seek to re-abuse if they could." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.

13:33 EDT KemPharm CEO says looking for partnerships to commercialize KP415 - KemPharm is a clinical-stage pharmaceutical company engaged in the discovery and development of proprietary prodrugs. In an exclusive interview with The Fly, KemPharm President and CEO Travis Mickle talked about the company's recent pre-new drug application meeting with the Food and Drug Administration for its KP415: "[The meeting] went very well. We essentially showed to them what we were going to be submitting and, as always, they told us kind of what their expectations are regarding filing strategy. But they also highlighted for us that the single efficacy study that we have proposed and that they agreed to previously is all that would be required to assess the efficacy of the drug. So, that was a good reaffirmation. Also, they said they would fully look at all the data respective to the product and consider the very best label that we could hope for demonstrating that this product starts at a half hour and goes through 13 hours. We do discovery and development, we don't commercialize. So, we are looking at partnerships. We have talked about this for a number of quarters. I think there's been a number of just natural impediments that have kind of made the process go a little bit slower than we had hoped. But ultimately, now with the pre-NDA meeting behind us, there's very few questions of what are the risks and what is the reward. This is a big market opportunity. Physicians have resoundingly told us that this is something that they could use and something that they would switch to for those patients that would be appropriate for." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.

13:27 EDT Chemours down 5% to $32.36 after Larry Robbins names as short idea - Larry Robbins of Glenview Capital is speaking on CNBC from the SOHN Conference.

13:23 EDT Robbins names Cigna, Humana, UnitedHealth as medical insurance picks - Larry Robbins of Glenview Capital is speaking on CNBC from the SOHN Conference.

13:21 EDT Larry Robbins recommends buying hospitals and HMOs, selling big pharma - Larry Robbins of Glenview Capital is speaking on CNBC.

13:10 EDT 3M, Chemours named as short ideas by Larry Robbins - Larry Robbins of Glenview Capital Management is speaking at the Sohn Conference. He has named 3M (MMM) and Chemours (CC) as short ideas while presenting.

13:01 EDT Ameris Bancorp, Fidelity Southern shareholders approve merger - Ameris Bancorp (ABCB) and Fidelity Southern Corporation (LION) jointly announced that, at their respective special meetings of shareholders held today, shareholders of both companies have voted to approve all proposals necessary to complete the merger of Fidelity with and into Ameris. The transaction is expected to close in the second quarter of 2019 and remains subject to the receipt of regulatory approvals and other customary closing conditions.

13:00 EDT KemPharm CEO says KVK still plans 'second half launch' for Apadaz

13:00 EDT 'Natural impediments' made KP415 partnership process slower, KemPharm CEO says

12:50 EDT Telecom Italia reports Ronca to take over as CFO, replacing Peluso - Telecom Italia announces that, as of May 7, Giovanni Ronca joins the Group reporting directly to the CEO Luigi Gubitosi, to become, as of June 17, the new CFO in lieu of Piergiorgio Peluso. Piergiorgio Peluso, as of June 17, will report directly to the CEO managing the Group's strategic projects and extraordinary operations. Giovanni Ronca was co-Head of UniCredit commercial bank network in Italy and member of the executive committee of the bank until March 31, TIM noted.

12:29 EDT Activist Raging Capital expresses 'number of concerns' in letter to Tidewater - Raging Capital disclosed in a regulatory filing that it delivered a letter today to the Chairman of Tidewater, providing feedback on the company's business, operations, strategy, governance and executive compensation. While Raging Capital said it commended Tidewater "for its leading quality, scale and young age of its global fleet and its best-in-industry balance sheet," it also "expressed a number of concerns that it believes the Board must urgently address" so that the company can "capitalize on its enormous opportunities." Specifically, Raging Capital noted concerns about Tidewater's "historic reputation as slow moving and bureaucratic, high G&A costs per vessel, inefficiency of the current balance sheet structure, unwieldy board size, the Board's lack of material ownership of the Issuer and the absence of a clear, incisive and focused short and long-term strategy." Raging Capital urged the board to evaluate the "state-of-affairs" at the company and to "immediately tackle the challenges" it faces. The fund owns a 7.0% stake in Tidewater, which equates to over 2.6M shares. The stock in midday trading is down 44c to $21.87.

12:18 EDT Lion Point Capital tells Carrizo merger could 'materially benefit' shareholders - Lion Point Capital earlier today disclosed a 5.1% stake in Carrizo Oil & Gas, which equates to 4.674M shares. The filing with the SEC allows for activism. Lion Point said it has had discussions with Carrizo's management to express its views as to its business and strategies to enhance or maximize shareholder value, including potential merger combinations as well as broader sales to other operators. During these discussions, Lion Point expressed its belief that a combination between Carrizo and "another operator could materially benefit shareholders for several reasons," including, increasing the size and scale of its operations in the Permian basin, enhancing its cash flow through overhead and operational cost savings, and reducing its leverage profile. The firm believes "facilitating a detailed strategic review" could improve Carrizo's focus on core assets, including through potential spin-offs or divestitures, following any such combination with another operator. Lion Point expects to continue to have conversations with the company and with third parties, including other oil and gas companies, as well as shareholders. Shares of Carrizo Oil & Gas are up 14c to $11.64 in midday trading. In statement today, the company said, "Carrizo welcomes regular and thoughtful engagement with its shareholders and seriously considers all suggestions that may enhance shareholder value. While the Company has a history of robust shareholder communications, Carrizo does not comment on specific discussions with shareholders."

12:00 EDT China Southern Airlines falls -9.3% - China Southern Airlines is down -9.3%, or -$4.16 to $40.42.

12:00 EDT Affiliated Managers falls -10.4% - Affiliated Managers is down -10.4%, or -$11.50 to $99.32.

12:00 EDT Earthstone Energy rises 9.9% - Earthstone Energy is up 9.9%, or 63c to $6.97.

12:00 EDT Aquantia rises 35.9% - Aquantia is up 35.9%, or $3.44 to $12.99.

10:50 EDT AlphaOne's Niles will be short Apple before December quarter results - Dan Niles of AlphaOne Capital Partners said he will be short Apple shares before the December quarter results. With no 5G phone coming out, Apple will not meet current consensus expectations for Q4 revenue growth, Niles said on CNBC.

10:25 EDT Justice Department announces $17M healthcare fraud settlement with Acadia - Justice Department Attorney Mike Stuart announced that his office has settled healthcare fraud claims against Acadia Healthcare Company. Pursuant to the settlement agreement, Acadia will pay $17M to resolve allegations of a billing scheme that defrauded Medicaid of $8.5M. Acadia, acting through its subsidiary, CRC Health, operates seven drug treatment centers in West Virginia. Reference Link

10:20 EDT BioMarin says EC grants marketing authorization for Palynziq - BioMarin Pharmaceutical announced that the European Commission, or EC, has granted marketing authorization for Palynziq at doses of up to 60 mg once daily, to reduce blood phenylalanine concentrations in patients with phenylketonuria, or PKU, aged 16 and older, who have inadequate blood Phe control despite prior management with available treatment options. Palynziq, a PEGylated recombinant phenylalanine ammonia lyase enzyme, is the first enzyme substitution therapy approved in Europe to target the underlying cause of PKU by helping the body to break down Phe. In addition, the EC acknowledged that the Phase 3 trial and extension study is suggestive of an improvement in inattention and mood symptoms.

10:14 EDT Sysco 'confident' in delivering operating income target at low-end $650M-$700M - CEO Tom Bene says "pleased" with overall financial performance for Q3. Says remain confident in ability to deliver adjusted operating income target at the low end of the $650M-$700M range. Says overall sales trends remain 'mixed'. Says saw some choppiness in the quarter. Says overall macro trends remain favorable for customers. Says continues to see impact of Brexit on UK operations due to uncertainty. Says continues to see reasonable trends in other international operations. Says will begin to see impact from recent acquisitions in Q4. Says technology continues to be "fundamental enabler" of growth. Says continues to see 'mixed' results in Europe. Says social unrest in France continues to impact tourism. Says integration and supply chain transformation in France on track to deliver benefits. Comments taken from Q3 earnings conference call.

10:00 EDT Navios Acquisition falls -10.2% - Navios Acquisition is down -10.2%, or -75c to $6.64.

10:00 EDT Pennsylvania REIT rises 7.9% - Pennsylvania REIT is up 7.9%, or 56c to $7.61.

10:00 EDT Aquantia rises 35.6% - Aquantia is up 35.6%, or $3.40 to $12.96.

09:53 EDT Medidata mentioned cautiously 'again' at Off Wall Street

09:50 EDT Intermolecular trading resumes

09:47 EDT UBS AG FI Enhanced Global High Yield ETN falls -8.1% - UBS AG FI Enhanced Global High Yield ETN is down -8.1%, or -$14.26 to $161.56.

09:47 EDT Qudian falls -9.7% - Qudian is down -9.7%, or -79c to $7.38.

09:47 EDT ProShares Trust Ultra VIX Short Term Futures ETF rises 14.3% - ProShares Trust Ultra VIX Short Term Futures ETF is up 14.3%, or $4.49 to $35.83.

09:29 EDT YRC Worldwide announces five-year master contract with employees - YRC Worldwide announced that employees at three of its operating companies, who are represented by the International Brotherhood of Teamsters and covered by the National Master Freight Agreement, or NMFA, overwhelmingly approved a new five year master contract and national economic package. This was the next step in the process, with only one small supplemental agreement remaining to be resolved before the entire contract becomes effective. The company will be working to address the last remaining localized supplement prior to expiration of the current contract extension through May 31.

09:22 EDT Tyson says Walmart has been a 'very strong' customer for 'many' years

09:17 EDT Fly Intel: Pre-market Movers - HIGHER: Anadarko (APC), up 3% after receiving a revised proposal from Occidental Petroleum (OXY) under which Anadarko shareholders would receive $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock... Axsome Therapeutics (AXSM), up 8% after announcing the acceleration of the timeline for reporting topline results from the MOMENTUM Phase 3 trial of AXS-07... Esperion (ESPR), up 13% after the FDA accepted both New Drug Applications for bempedoic acid and the bempedoic acid/ezetimibe combination tablet for filing and regulatory review... Zynerba (ZYNE), up 6% after receiving fast track designation for Zygel from the FDA. UP AFTER EARNINGS: Bausch Health (BHC), up 2%... Delek US (DK), up 2%. DOWN AFTER EARNINGS: Tyson Foods (TSN), down 2%... Camtek (CAMT), down 5%. LOWER: Occidental, down 1% after announcing revised proposal to acquire Anadarko... Cytokinetics (CYTK), down 19% after the FORTITUDE-ALS trial did not achieve statistical significance for a pre-specified dose-response relationship in its primary endpoint of change from baseline in slow vital capacity after 12 weeks of dosing... Five Below (FIVE), down 3% after Barclays analyst Karen Short downgraded the stock to Equal Weight from Overweight, citing valuation.

09:15 EDT TD Ameritrade expands commission-free ETF trading program - TD Ameritrade1 is expanding its commission-free exchange-traded fund trading program once again, increasing the number of offerings from more than 300 to 569 ETFs from 21 providers covering some 90 Morningstar categories. The expansion, effective June 1, 2019, gives more than 7,000 registered investment advisors and TD Ameritrade's 11 million individual investor client accounts access to one of the largest and most diverse selections of non-proprietary, commission-free ETFs in the industry.

09:14 EDT GlycoMimetics completes enrollment for Phase 3 trial evaluating rivipansel - GlycoMimetics (GLYC) announced that patient enrollment has been completed in the Phase 3 RESET clinical trial, which is evaluating the efficacy and safety of rivipansel for the acute treatment of vaso-occlusive crisis in sickle cell disease. In 2011, GlycoMimetics and Pfizer Inc. (PFE) entered into a worldwide license agreement for the development and, if approved by applicable regulatory authorities, commercialization of rivipansel. Since completion of the Phase 2 clinical trial, Pfizer, has been responsible for clinical development of rivipansel, including the RESET clinical trial. Under the Company's license agreement, GlycoMimetics is eligible to receive payments of up to $80M upon the achievement of specified development milestones, up to $70 million upon the achievement of specified regulatory milestones, and up to $135M upon the achievement of specified levels of annual net sales of licensed products. GlycoMimetics is also eligible to receive tiered royalties, with percentages ranging from the low double digits to the low teens, based on net sales of rivipansel worldwide.

09:12 EDT Griffon's Telephonics awarded $12.6M contract from U.S. Air Force - Telephonics, a wholly owned subsidiary of Griffon, announced that it has been awarded a $12.6M AN/UPX-40 contract from the United States Air Force. Through a Foreign Military Sales agreement, Telephonics will supply its AN/UPX-40 Identification Friend or Foe system to the Royal Saudi Air Force to support the country's E-3 Sentry program.

09:11 EDT Alphatec announces commercial launch of PLIF IdentiTi-PS, AlphaGRAFT - Alphatec Holdings announced the commercial releases of its PLIF IdentiTi-PS Porous Titanium Interbody Implant System for Posterior Lumbar Interbody Fusion Procedures, or PLIFs, and its AlphaGRAFT Demineralized Bone Matrix, or DBM, Fiber. The launch of the IdentiTi-PS Interbody Implant System follows alpha evaluations that began in June 2018. It marks the second of six IdentiTi implant systems the company expects to commercially introduce. The IdentiTi line of implant systems, with enhanced imaging characteristics and porosity, are expected to provide performance that is superior to competitive titanium implant offerings. The IdentiTi line of implants will allow ATEC to address the broader market of surgeons who prefer titanium.

09:09 EDT Axonics presents ARTISAN-SNM pivotal study results at AUA meeting - Axonics Modulation Technologies announced the presentation of positive results from the ARTISAN-SNM pivotal study, designed to gain market approval from the U.S. Food & Drug Administration for the Axonics r-SNM System. The presentation, entitled "Treatment of urinary urgency incontinence using a novel rechargeable SNM system: 6-month results of the ARTISAN-SNM study," summarized the clinical study 6-month outcomes demonstrating that patients implanted with the Axonics r-SNM System received clinically meaningful and statistically significant improvements in Urinary Urgency Incontinence symptoms and quality of life. The ARTISAN-SNM study is a 129-patient single-arm, prospective, multi-center, unblinded pivotal clinical study approved under an FDA Investigational Device Exemption to evaluate the safety and efficacy of the Axonics r-SNM System for urinary dysfunction. The study is being conducted in 14 centers in the U.S. and five centers in Western Europe. Key results at 6-months included: 90% of the treated patients were therapy responders, defined as a greater than or equal to50% reduction in urgency incontinence episodes compared to their baseline.Urgency incontinence episodes across all patients reduced from an average of 5.6 per day at baseline to 1.3 per day at 6 months. 80% of the therapy responders had greater than or equal to75% reduction in their urgency incontinence episodes, and 34% were dry, having experienced a 100% reduction. Patients experienced a clinically meaningful improvement in quality of life as indicated by a 34-point improvement in their ICIQ-OABqol score. 93% of treated patients were satisfied with their r-SNM therapy and 98% said their charging experience was acceptable. There were no serious device-related adverse events.

09:07 EDT Rimini Street expands investment, operations in Eastern Europe - Rimini Streei announced it has further expanded its operations in Eastern Europe to address the increasing demand for the company's support services in the region. Rimini Street began selling in Russia in 2018, and recently expanded its client base there with new premier domestic clients like Bank Zenit and Ingosstrakh. The Company also recently launched sales in Poland, building on its growing presence in the region, and today, supports 86 organizations with operations in Eastern Europe. The Company has also hired new staff, including experienced local language engineers, to support the next phase of growth in this region

09:06 EDT Deutsche Bank selects Red Hat technologies for Fabric application platform - Red Hat (RHT) announced that Deutsche Bank (DB) is powering its Fabric application platform with open hybrid cloud technologies from Red Hat. Fabric is a key component of Deutsche Bank's digital transformation strategy and serves as an automated, self-service hybrid cloud platform.

09:06 EDT Abbott launches smart heart monitor to detect arrythmia - Abbott announced the launch of a new, smart heart monitor for better arrhythmia detection-positive news for people at risk for irregular heartbeats. Now with CE Mark in Europe and FDA clearance, the next-generation Confirm Rx insertable cardiac monitor, or ICM, a paperclip-sized implantable device, combines smartphone connectivity and continuous, remote monitoring to track unpredictable heart rhythm problems for fast and accurate diagnosis.

09:04 EDT Emerson awarded five-year contract with BP to provide support in North Sea - Emerson (EMR) has been awarded a five-year contract with BP (BP) to provide predictive maintenance and operational support services to ensure safe, optimized production from its Clair Ridge platform and Glen Lyon floating production, storage and offloading vesse.

09:04 EDT Inovio announces VGX-3100 has been granted advanced therapy certificate - Inovio Pharmaceuticals announced that its lead Phase 3 product candidate, VGX-3100, has been granted an Advanced Therapy Medicinal Product Certificate for quality and non-clinical data. The procedure of certification of quality and non-clinical data involves an assessment of the available data in view of future registration and the related European Scientific Data Requirements, not including any clinical data or benefit-risk assessment. The granted EMA's certificate confirms that Inovio's chemistry, manufacturing and controls (CMC) data and nonclinical results available to date overall comply with the scientific and technical standards for evaluating an EU Marketing Authorization. VGX-3100 is currently being tested in a pivotal, global Phase 3 program, which is assessing the efficacy of VGX-3100 to regress cervical HSIL.

09:02 EDT Intermolecular to be acquired by Merck KGaA for $1.20 per share in cash

08:57 EDT User-Friendly urges Rand stockholders to vote against East transaction - User-Friendly Phone Book, the largest shareholder of Rand Capital Corporation owning 1,455,993 shares or 23.0% of the Company, announced that it had filed its definitive proxy and an open letter to fellow shareholders urging them to vote AGAINST the proposed transaction with East Asset Management, using the WHITE proxy card at the special meeting of shareholders scheduled to take place on May 16, 2019. User-Friendly said, "As presented in the letter, the transaction proposed by Rand management would sell a majority of the Company at a grossly inadequate price relative to the Company's net asset value, transferring control and over $7.8 million in wealth from Rand shareholders to the owners of East immediately upon closing of the transaction. Further, if the Board proceeds with the Transaction and declares the proposed special dividend, it will cost current shareholders even more, both in terms of dilution and potential out-of-pocket tax expenses...User-Friendly strongly believes Rand shareholders should not be asked to give up control of their Company at a significant, 41% discount to its NAV. It urges fellow shareholders to vote AGAINST all proposals on the WHITE proxy card and to discard any card they have received from the Company."

08:55 EDT Buffett says stocks 'ridiculously cheap' if rates stay at these levels - Warren Buffett, while speaking on CNBC, said stocks are "ridiculously cheap" if interest rates stay at current levels.

08:53 EDT Medicines360 and Allergan presents data from Medicines360 clinical trial - Medicines360 and Allergan presented new six-year data from Medicines360's ongoing multi-center U.S.-based pivotal clinical trial investigating its intrauterine system, or IUS, LILETTA, or levonorgestrel-releasing intrauterine system, 52 mg, at the American College of Obstetricians and Gynecologists, or ACOG, 2019 Annual Clinical and Scientific Meeting in Nashville, Tenn. Investigators shared six-year pregnancy rates and safety outcomes from the ongoing ACCESS IUS trial, the largest ongoing Phase 3 clinical trial of an IUS in the U.S. The Pearl Index in the first year was 0.15 among women who were 16 to 35 years old when they enrolled in the study. At six years, the cumulative life-table pregnancy rate was 0.87. LILETTA is currently approved for up to five years for the prevention of pregnancy. FDA is currently reviewing an application requesting approval of LILETTA for up to six years of use based on data from ACCESS IUS.

08:44 EDT Capstone Turbine adopts new NOL shareholder rights agreement - Capstone Turbine announced that its board has adopted a new net operating loss, or NOL, shareholder rights agreement designed to preserve its substantial tax assets. As of March 31, 2018, Capstone had cumulative federal and state net operating loss carryforwards of approximately $657.8M and $146.6M, respectively, which can be utilized in certain circumstances to offset future U.S. federal and state taxable income. The NOL rights plan replaces the company's prior rights agreement, dated May 6, 2016. To implement the NOL rights plan, the Capstone board declared a non-taxable dividend of one preferred share purchase right for each outstanding share of its common stock, which will be paid to the stockholders of record at the close of business on May 16. The rights will be exercisable if a person or group acquires 4.9% or more of Capstone common stock. The rights will also be exercisable if a person or group that already owns 4.9% or more of Capstone common stock acquires additional shares. Capstone's existing stockholders that beneficially own in excess of 4.9% of the common stock will be "grandfathered in" at their current ownership level. If the rights become exercisable, all holders of rights, other than the person or group triggering the rights, will be entitled to purchase Capstone common stock at a 50% discount. Rights held by the person or group triggering the rights will become void and will not be exercisable. The rights are not taxable to Capstone stockholders. The rights will trade with Capstone's common stock and will expire on the first day after the company's 2019 annual meeting of stockholders unless the Capstone stockholders ratify the NOL rights plan prior to such date, in which case the term of the NOL rights plan is extended to three years. The Capstone board may terminate the NOL Rights Plan or redeem the rights prior to the time the rights are triggered. Capstone intends to submit the NOL rights plan to its stockholders for ratification at its 2019 annual meeting.

08:39 EDT Hughes Federal Credit Union selects Fiserv to provide digital foundation - Fiserv announced that Hughes Federal Credit Union will enhance its digital capabilities with technology from Fiserv. The credit union will utilize Architect from Fiserv as a foundation for a range of online, mobile and payments services, delivering a seamless digital experience to members.

08:37 EDT Global Ship Lease announces two new long-term charter agreements - Global Ship Lease has agreed to new five-year charters with MSC for 8,667 TEU GSL Tianjin and OOCL Qingdao, which are to be renamed MSC Tianjin and MSC Qingdao, respectively. The new charters are expected to commence upon redelivery of vessels by current charterers during late Q2 or early Q3 and are expected to generate adjusted EBITDA of approximately $25.6M per vessel for the median firm period.

08:36 EDT New Gold announces restart of Rainy River milling operations - New Gold announced today that the Rainy River milling operations were restarted late afternoon on Friday, May 3. The operations had been temporarily shut down to address excess water in the Tailings Management Area. The water level in the TMA has been lowered to a desirable operational level and pumping into the Water Management Pond continues. Mining and crushing operations continued during the temporary shutdown period. The company said, "Management anticipates that the production delay will be offset so that the Company will still be in a position to achieve its annual production guidance."

08:35 EDT Velan Capital believes Board of Progenic needs immediate changes - Velan Capital, one of the largest stockholders of Progenics Pharmaceuticals, announced that it has delivered a letter to the Board of Directors of the Company expressing its concerns with the Company's persistent underperformance and poor corporate governance practices and stating its intent to hold certain members of the Board accountable at the Company's 2019 Annual Meeting of Stockholders.The letter began"Velan Capital, together with its affiliates, are the beneficial owners of an aggregate of 7,765,000 shares of common stock of Progenics Pharmaceuticals, representing approximately 9.2% of the Company's outstanding shares, making us the Company's second-largest stockholder, based on available regulatory filings. As we have clearly communicated to you, we are long-term investors and believe that Progenics is deeply undervalued. We tried to work constructively with you to address our concerns as well as the opportunities that we believe are available to drive value for the benefit of all Progenics stockholders. Given the lack of urgency in addressing our concerns and to preserve our rights as stockholders, we nominated a slate of director candidates for election to the Board of Directors at the Company's 2019 Annual Meeting of Stockholders." The Letter included "We believe that immediate changes to the composition of the Board are necessary in order to ensure that the Company is being run in a manner consistent with stockholders' best interests."

08:34 EDT Scynexis presents data supporting future NDA submission of oral ibrexafungerp - SCYNEXIS announced data demonstrating the potential of ibrexafungerp as an agent to address VVC. The data, which were presented at the 2019 American College of Obstetrics and Gynecology Annual Clinical and Scientific Meeting, further support the company's plan to submit a New Drug Application for VVC in the second half of 2020. "The data presented at ACOG 2019 adds to a growing body of evidence demonstrating the favorable safety profile and the antifungal activity of ibrexafungerp against difficult-to-treat and often drug-resistant Candida infections," said Stephen A. Barat, PhD, Vice President of Pre-Clinical Research and Early Development at SCYNEXIS. "We are particularly pleased with the positive results observed in our complete reproductive and developmental toxicology package, which allow us to move closer to our planned NDA submission for VVC in the second half of 2020. Reproductive and developmental studies (fertility and early embryonic, embryo-fetal, peri- and post-natal) provide evidence that ibrexafungerp does not cause fetal or reproductive harm. These findings are extremely meaningful for the VVC patient population, often of child-bearing age, and can differentiate oral ibrexafungerp against fluconazole, which has a warning for potential risks of spontaneous abortion and congenital abnormalities in its prescribing information."

08:28 EDT Welch's selects Avaya IX Workplace solutions to upgrade communications - Avaya Holdings Corp. announced that Welch's has upgraded its communications infrastructure with Avaya IX Workplace solutions to bolster customer experience and workforce efficiency.

08:25 EDT NIC Inc. acquires Complia, terms not disclosed - NIC Inc. announced it has acquired Complia, a providers of a technology platform for government regulation of the cannabis and hemp industries. The acquisition expands NIC's professional licensing capabilities, which also include dozens of tailored licensing services across the United States, a custom cannabis regulatory system for the state of Oregon, and an enterprise licensing and permitting platform for the state of Illinois.

08:22 EDT John Wiley to acquire assets of Knewton, terms not disclosed - John Wiley & Sons announced it has signed an agreement to acquire the assets of Knewton, a provider of affordable courseware and adaptive learning technology for an undisclosed amount. The transaction is expected to close on or around May 31, 2019, subject to customary closing and regulatory conditions.

08:20 EDT Urovant Sciences announces Phase 3 EMPOWUR study met co-primary endpoints - Urovant Sciences announced Dr. David Staskin presented Phase 3 pivotal data demonstrating safety and efficacy of vibegron during a plenary session at the 2019 American Urological Association Annual Meeting in Chicago yesterday afternoon. Vibegron is an investigational novel, once-daily oral beta-3 adrenergic agonist being evaluated as a treatment for adults with symptoms of overactive bladder. Dr. Staskin, a leading urologist with St. Elizabeth's Medical Center, and an Associate Professor of Urology at Tufts University School of Medicine in Boston, is a key investigator for vibegron. Data from EMPOWUR - an international double blind, placebo-controlled, multicenter Phase 3 clinical trial evaluating the efficacy and safety of a once-daily 75 mg dose of vibegron - showed statistical significance over placebo in both reduction in daily urge urinary incontinence episodes and reduction in daily micturitions. The difference compared to placebo was statistically significant as early as week 2 for UUI and micturitions and statistically significant efficacy was maintained at all timepoints measured through the end of the study. In addition, vibegron met all seven key secondary endpoints, including a clinically meaningful reduction in daily urgency episodes and volume voided versus placebo. A patient subset-analysis of the data were also included in the plenary presentation at AUA, showing vibegron reduced UUI and micturitions in patients previously treated for OAB symptoms with an anticholinergic or mirabegron, the only currently marketed beta-3 agonist. Urovant intends to file a New Drug Application with the U.S. Food and Drug Administration by early 2020.

08:18 EDT NCR Corp. acquires resller Texas P.O.S., terms not disclosed - NCR Corporation announced it has acquired Texas P.O.S. Inc.. The acquisition complements NCR's existing, regional sales presence for hospitality customers and expands sales and services coverage in Texas. The Texas P.O.S. management team remains with NCR following the acquisition and the Texas P.O.S. staff agreed to join NCR.

08:16 EDT Alder Biopharmaceuticals presents new efficacy data for eptinezumab - Alder BioPharmaceuticals announced new efficacy data highlighting consistency of early migraine prevention benefit across four clinical trials with eptinezumab. Eptinezumab is an investigational monoclonal antibody, or mAb, targeting the calcitonin gene-related peptide, or CGRP, and is administered by quarterly infusion for migraine prevention. Detailed data will be presented at the AAN annual meeting. Across the Phase 2 and Phase 3 clinical trials, it was observed that eptinezumab, facilitated by its 100% bioavailability at the end of infusion, showed an onset of migraine prevention. The rapid response observed within Day 1 and Month 1 was sustained through the first quarter following infusion, maintained or further increased through subsequent infusions and consistent across four clinical trials. Safety and tolerability were evaluated in the eptinezumab clinical trials. No serious adverse drug reactions related to eptinezumab were identified within the clinical trial program. The FDA accepted Alder's biologics license application for eptinezumab in April, with a Prescription Drug User Fee Act target action date of February 21, 2020. If approved, it will be the first quarterly, anti-CGRP infusion therapy for migraine prevention.

08:13 EDT Marvell to acquire Aquantia for $13.25 per share in cash - Marvell (MRVL) and Aquantia (AQ) announced a definitive agreement, approved by the boards of directors of both companies, under which Marvell will acquire all outstanding shares of Aquantia common stock in exchange for consideration of $13.25 per share in cash. The transaction is expected to be immediately accretive to Marvell's non-GAAP earnings per share and generate significant annual run-rate synergies of $40M to be realized within 12 months after the transaction closes. Under the terms of the definitive agreement, Marvell will pay Aquantia's stockholders $13.25 per share in cash. This represents approximately $452M in transaction value after adjusting for net cash on Aquantia's balance sheet. Marvell intends to finance the transaction with cash on hand and revolver borrowings. The transaction is not subject to any financing condition and is expected to close by the end of CY2019, subject to regulatory approval as well as other customary closing conditions, including the adoption by Aquantia's stockholders of the merger agreement. In connection with the execution of the definitive agreement, certain stockholders of Aquantia, together holding approximately 17% of the outstanding shares of common stock of Aquantia, have agreed to vote their shares in favor of the transaction under a voting and support agreement.

08:12 EDT Premier, Ballad Health partner on performance improvement initiative - Premier has expanded its partnership with Ballad Health, an integrated health system that serves 29 counties across four Southeastern states. Ballad Health will implement Premier's performance improvement infrastructure and leverage strategic supply chain services to drive high-value care across its enterprise.

08:11 EDT Ekso Bionics says EksoGT exoskeleton adopted in Singapore for study - Ekso Bionics Holdings announced that the National University Health System in Singapore has adopted three EksoGT exoskeletons for a clinical study. The Improving Mobility via Exoskeletons program, supported by Temasek Foundation and Trailblazer Foundation Limited, will study patient outcomes and assess the viability and potential for scaling-up the use of robotic exoskeletons across the continuum of rehabilitation care from hospital to community. The study will focus on patients suffering from stroke and spinal cord injuries, especially for the elderly. The three EksoGT devices will be used at multiple NUHS partner sites including Alexandra Hospital, NTUC Health, St Luke's Eldercare, St Luke's Hospital, and Stroke Support Station.

08:10 EDT Aston Martin The Americas, Chase announce exclusive private label agreement - Aston Martin The Americas and Chase announced an exclusive private label agreement. Chase will provide Aston Martin customers with loans and leases under the financial brand, Aston Martin Financial Services. The bank will also provide commercial lending and treasury services for Aston Martin dealerships in the U.S.

08:09 EDT Aptorum's Claves Life Sciences establishes therapeutic platform - Claves Life Sciences announced the establishment of a novel therapeutic platform for the treatment of various diseases via modulation of the chemical signaling relating to gut microbiota. The role of gut microbiota in the pathogenesis of various diseases has been under the spotlight recently. It has been demonstrated that gut microbiota is related to major diseases such as metabolic and cardiovascular diseases, cancer, neurodegenerative diseases, etc.

08:08 EDT Heska names Catherine Grassman as CFO - Heska announced the promotion of Catherine Grassman from Vice President and Chief Accounting Officer to Executive Vice President, CFO, with continuing responsibility for the company's financial management functions including finance and audit, treasury, tax, accounting, capital allocation, strategic financing, information systems, and strategic advisory to the company's CEO. Grassman will continue to report to Heska's CEO, Kevin Wilson. Prior to joining Heska, Grassman spent more than 15 years with PricewaterhouseCoopers, LLP as a senior manager in the audit practice.

08:06 EDT Savara receives fast track designation from FDA dor Molgradex - Savara announced that the U.S. Food and Drug Administration granted Fast Track designation for Molgradex, an inhaled formulation of recombinant human granulocyte-macrophage colony-stimulating factor. Molgradex, the Company's lead product candidate, is being investigated in a pivotal Phase 3 study, called IMPALA, for the treatment of autoimmune pulmonary alveolar proteinosis. Topline results from the study are expected in June 2019. Positive results would facilitate the submission of a Biologics License Application in the first half of 2020, with an anticipated commercial launch later in 2020 or early 2021.

08:03 EDT Marvell to acquire Aquantia for $13.25 per share in cash - Marvell Technology Group Ltd. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions, and Aquantia, Corp. (NYSE: AQ), a leader in Multi-Gig Ethernet connectivity, today announced a definitive agreement, approved by the boards of directors of both companies, under which Marvell will acquire all outstanding shares of Aquantia common stock in exchange for consideration of $13.25 per share in cash. The transaction is expected to be immediately accretive to Marvell's non-GAAP earnings per share and generate significant annual run-rate synergies of $40M to be realized within 12 months after the transaction closes. Under the terms of the definitive agreement, Marvell will pay Aquantia's stockholders $13.25 per share in cash. This represents approximately $452M in transaction value after adjusting for net cash on Aquantia's balance sheet. Marvell intends to finance the transaction with cash on hand and revolver borrowings. The transaction is not subject to any financing condition and is expected to close by the end of CY2019, subject to regulatory approval as well as other customary closing conditions, including the adoption by Aquantia's stockholders of the merger agreement. In connection with the execution of the definitive agreement, certain stockholders of Aquantia, together holding approximately 17 percent of the outstanding shares of common stock of Aquantia, have agreed to vote their shares in favor of the transaction under a voting and support agreement.

08:00 EDT Accenture, SAP co-develop solutions on SAP C/4HANA Suite - Accenture (ACN) and SAP (SAP) announced they are co-developing and co-innovating to accelerate the development of the SAP C/4HANA platform and build industry-specific solutions that elevate digital customer experiences. The initiative, called Project Elevate, includes the formation of industry consortia with key market leaders in automotive original equipment manufacturers, business-to-business component manufacturing and utilities to help define and design these industry-specific experiences. The solutions will be built on the market-leading SAP C/4HANA cloud-based solution portfolio and leverage deep product knowledge and industry experience from Accenture Interactive and Accenture Technology.

07:49 EDT Affiliated Managers CEO Nathaniel Dalton to leave position, Jay Horgen succeeds - Affiliated Managers announced the appointment of Jay Horgen as CEO, effective following the company's annual meeting of stockholders, at which time Nathaniel Dalton, current CEO, will become senior advisor to the company and remain on the board. Horgen will also continue to serve as president and will join the board. Horgen is president and CFO of the company. He joined the company in 2007 as executive VP to lead the execution of investments in new AMG Affiliates. Over the course of his AMG tenure, Horgen has held a series of broad leadership positions through which he has overseen many areas of the company. Before joining AMG, Horgen founded Eastside Partners, a private equity firm where he served as a managing director.

07:39 EDT Saia announces Rob Chambers as CFO - Saia announced that Rob Chambers has been named the company's new VP and CFO. In this position, he will provide oversight of Saia's finance, accounting and treasury functions while partnering with Saia's leadership team to provide strategic leadership and risk management. Chambers most recently served as the VP of commercial finance for Americold Logistics.

07:33 EDT iClick Interactive Asia, BTG WELINK, Tencent form strategic partnership - iClick Interactive Asia Group (ICLK) announced a strategic partnership with BTG WELINK and Tencent Holdings (TCEHY). The partnership will leverage the digital strengths, data capabilities and payment of the three companies to help BTG establish a new customer relationship management system providing its customers with an array of smart lifestyle O2O solutions. Under the new partnership, customers of the BTG business will have access to a wide range of personalized mobile services powered by iClick and Tencent including reservation, quick pay, spending notification via the Official WeChat Account, Mini Programs and WeChat Pay. The parties will collaborate to build a large unified membership system for the business sectors of BTG to ensure its entire membership can enjoy the same benefits and quality of experience. The new offerings under this tri-party partnership will be first rolled out at the Beijing Scitech Premium Outlet Mall. As part of this partnership with BTGW and Tencent, iClick will apply its upgraded solutions to build a private DSP system for BTG. Using Tencent's big data advertising platform, iClick can assist BTG to develop precision marketing campaigns.

07:20 EDT Sandvik AB initiates internal separation of Sandvik Materials Technology - Sandvik Board of Directors has decided to initiate an internal separation of the business area Sandvik Materials Technology. The intention is to increase Sandvik Materials Technology's structural independence from the Sandvik Group and thereby put greater focus on the business' future development possibilities as well as create flexibility. The Board of Directors has also decided to explore the possibility of a separate listing at the Nasdaq Stockholm Exchange, should that strengthen Sandvik Materials Technology's position and future development. "The decision to initiate an internal separation of Sandvik Materials Technology is based on the board's belief that each part will develop more favorably by itself, increasing opportunities for profitable growth and improving long-term shareholder value," says Johan Molin, Chairman of the Sandvik Board of Directors. "Sandvik Materials Technology represents the origin of Sandvik and great businesses have sprung out of it to shape the current structure. It is my view that a separation will allow full focus on Sandvik Materials Technology's key strengths and its further improved performance," says Bjorn Rosengren, President and CEO of Sandvik. The separation and preparation for a possible listing is expected to take at least a year. There is no guarantee that a decision to finally list Sandvik Materials Technology will be taken.

07:18 EDT Fastenal reports April net sales up 12.5% to $460.71M - Reports April daily sales up 7.4% to $20.94M.

07:12 EDT Blackstone launches impact investing platform - Blackstone (BX) announced the launch of a new impact investing platform that will be part of the firm's Strategic Partners group. The platform will seek to deliver positive financial impact while addressing four specific investment themes- Health & Wellbeing, Financial Access, Sustainable Communities and Green Technologies. Tanya Barnes, former Managing Director in Goldman Sachs' (GS) Merchant Banking Division, has joined Blackstone as a Managing Director to lead this initiative.

07:11 EDT Bausch Health reports Q1 adjusted EBITDA $851M vs. $832M a year ago

07:09 EDT Axsome Therapeutics announces acceleration of MOMENTUM Phase 3 trial - Axsome Therapeutics announced the acceleration of the timeline for reporting topline results from the MOMENTUM Phase 3 trial of AXS-07, Axsome's oral, investigational medicine with distinct dual mechanisms of action for the acute treatment of migraine. The trial is being conducted pursuant to a FDA special protocol assessment, or SPA. The first patient was enrolled in the MOMENTUM trial in March and currently approximately 40% of the target number of patients have been randomized. Based on the faster-than-expected enrollment in this trial, topline results are now expected in the second half of 2019, versus previous guidance of Q1 2020.

07:08 EDT Lithia Motors adds Google's Shauna McIntyre to board of directors - Lithia Motors (LAD) announced that Shauna McIntyre joined their Board of Directors. McIntyre currently works at Alphabet (GOOG, GOOGL) as the Program Lead for Google Automotive Services.

07:06 EDT Volaris reports preliminary FY19 ASMs view up 23.1% - Volaris reported April 2019 and preliminary year to date traffic results. In April 2019, capacity measured by ASMs, or Available Seat Miles, increased by 23.1% vs last year, with demand measured by RPMs, or Revenue Passenger Miles, showing a strong increase of 23.2%. Volaris carried 1.9 M passengers in total, 24.8% increase vs last year, with load factor increasing 0.1 pp to 84.6%.

07:05 EDT Can-Fite BioPharma prepares for end-of-phase II meeting with FDA - Can-Fite BioPharma announced it is conducting preparatory work for a planned pivotal Phase III study of its drug candidate Namodenoson in the treatment of advanced liver cancer in patients as a first line and second line treatment. The Company recently announced results from its Phase II study of Namodenoson in the treatment of advanced liver cancer. Namodenoson was found to increase overall survival in hepatocellular carcinoma patients with Child Pugh B7, the largest subpopulation of the study, as compared to placebo, even though the trial did not meet its primary endpoint. An end of Phase II meeting with the U.S. Food and Drug Administration to review study data and to present the design of the Phase III clinical trial is expected soon. The FDA has granted Namodenoson both Orphan Drug and Fast Track status providing a pathway for accelerated approval based on unmet need in the treatment of advanced liver cancer. Fast Track designation offers advantages including more frequent meetings with the FDA and rolling review, which provides the opportunity to submit parts of its New Drug Application for review prior to completing the entire application for commercialization. Orphan Drug designation includes 7-year market exclusivity following marketing approval, FDA assistance during the drug development process, and exemption of application fees. Can-Fite has engaged the services of a clinical research organization, the Weinberg Group, based in Washington DC to help with the preparation of all materials for the FDA meeting.

07:04 EDT Mallinckrodt announces preliminary results from Phase 4 registry for INOmax gas - Mallinckrodt announced preliminary results of a planned interim analysis from the company's Phase 4 registry assessing the use of INOmax gas, for inhalation, for premature neonates versus term and near-term neonates with pulmonary hypertension, or PH. The primary outcome measure compares the incidence of mechanically ventilated subjects with PH who achieve at least a 25% improvement in Oxygenation Index, or OI, from baseline, or Surrogate Oxygenation Index, or SOI, for subjects who are not ventilated, between gestation age groups. OI is commonly used to evaluate the severity of hypoxic respiratory failur, or HRF, in neonates with PH. The planned interim analysis occurred at the approximate midway point of enrollment. The preliminary analysis found that, at this juncture in the study, approximately 86% of both cohorts showed a 25% or greater improvement in OI or SOI during the treatment period. The safety and efficacy of INOmax nitric oxide gas for treating HRF in premature neonates with PH has not been evaluated by the FDA.

07:03 EDT TherapeuticsMD presents results from MATE survey - TherapeuticsMD announced the presentation of results from the Men's Attitude Toward Menopause Survey, a large study of men's understanding of and attitudes related to menopause, at the American College of Obstetricians and Gynecologists 2019 Annual Meeting. The data, representing insights collected from 450 men married to and living with women of menopausal age, uncovered men's perceptions and attitudes towards menopause and their role in their partner's menopausal transition. The MATE survey showed that while men are sensitive to the changes experienced by women during their menopause transition and believe those changes have a negative impact on their relationships, they are less aware of the specific menopausal symptoms or opportunities available for women to get relief from symptoms. When presented with a list of symptoms that their female partners might be facing, more than half recognized that their partner was experiencing sleeplessness or difficulty sleeping. Additionally, nearly half reported that their partner was living with a lack of energy, loss of desire for sexual contact, mood swings and hot flashes. When prompted to select an option, only 55% attributed these symptoms to menopause. Sixty-three percent of respondents believed their partner's symptoms had personally affected them with 77% believing the impact was negative to themselves and their relationships. These men acknowledged that symptoms of menopause had a great or negative impact on their partners as it pertained to love making, mood swings and romance. Some men noted that it was upsetting or frustrating to see their partners going through this transition; however, less than half of respondents were aware that there are treatment options for menopausal symptoms.

06:58 EDT Boston Scientific announces FDA approval of Vici Venous Stent System - Boston Scientific announced that the FDA has approved the Vici Venous Stent System for the treatment of iliofemoral venous obstructive disease, which occurs when the flow of blood through the veins located deep in the pelvic region becomes blocked by a blood clot or compressed by anatomical anomalies. The approval of the Vici stent was based on data from the VIRTUS study, a prospective, multi-center, single-arm study with 170 patients. The VIRTUS study evaluated the Vici stent in relation to pre-defined objective performance goals in patients with a clinically significant obstruction in the illiofemoral venous outflow tract. It met its primary safety and effectiveness endpoints.

06:54 EDT Conagra Brands divests frozen pasta business Gelit - Conagra Brands announced that it has entered into a definitive agreement to divest its Italian-based frozen pasta business, Gelit, to an Italian investment company owned by Consilum, Progressio and MMM whose reference shareholder is Massimo Menna. The transaction is subject to customary closing conditions and includes the sale of Conagra Brands' entire equity interest in Gelit. Financial terms were not disclosed.

06:52 EDT Rockwell Medical commences sales of Dialysate Triferic in U.S. - Rockwell Medical announced the commencement of commercial sales of Dialysate Triferic in the United States. The company has developed multiple formulations of Triferic for the treatment of anemia in adult hemodialysis patients and is now launching the first product, Dialysate Triferic, from its portfolio. The company expects to file a New Drug Application with the U.S. FDA for its next formulation, I.V. Triferic, within the second quarter. Based on the expected sales cycle at dialysis clinics, the company does not expect material sales for Dialysate Triferic in the second quarter.

06:50 EDT Delek US raises quarterly dividend 3.7% to 28c per share - Shareholders of record on May 20 will receive this cash dividend payable on June 3.

06:45 EDT Buffett says might have bought Anadarko had it come to him - Warren Buffett, while speaking on CNBC, said Berkshire Hathaway (BRK.A) might have bought Anadarko Petroleum (APC) had the company reached out.

06:42 EDT Axsome announces AXS-05 status has been expedited after meeting with FDA - Axsome Therapeutics announced that the development status and plan for AXS-05 in the treatment of major depressive disorder, or MDD, and treatment resistant depression, or TRD, have been expedited following a Breakthrough Therapy meeting with the FDA. AXS-05 is a novel, oral, investigational NMDA receptor antagonist with multimodal activity. Target enrollment in the ongoing STRIDE-1 Phase 3 trial has been reached. Based on the now accelerated timeline to NDA filing, patient screening in this trial however will continue in order to build the agreed-upon patient safety database required for an NDA filing. Axsome now expects topline results for both the Phase 3 STRIDE-1 trial in TRD, and the planned placebo-controlled Phase 3 trial in MDD, in the second half of 2019, with an NDA filing anticipated in 2020.

06:37 EDT Teleflex presents new clinical data from five studies of UroLift system - Teleflex announced the presentation of new clinical data at the American Urological Association, or AUA, 2019 Annual Meeting from five studies of the UroLift System for patients with benign prostatic hyperplasia BPH, showcasing the safety and effectiveness of the minimally invasive treatment in real-world patient populations. "Findings from these studies are consistent with results found in controlled clinical studies, reaffirming the safety and long-term benefits of the minimally invasive UroLift System treatment for BPH in diverse patient populations," said the company. "We are pleased to add this data to the growing portfolio of real-world outcomes frequently found among more than one hundred thousand patients that have been treated for BPH with the UroLift System."

06:33 EDT SPAR Group expands contract with MiX Telematics in Southern Africa - MiX Telematics announced that one of Southern Africa's largest fast moving consumer goods retailers are expanding its adoption of MiX's solutions. The SPAR Group has been a long-standing customer of MiX Telematics, with a few hundred vehicles under subscription. The group owns the SPAR retail brand in the region and supports a network of independent retailers supplying goods and services to over 1000 SPAR stores across Southern Africa by means of its six distribution centres.

06:28 EDT Kraft Heinz: Probe idenitified several employees engaged in misconduct - Kraft Heinz said in a regulatory filing: "As previously disclosed, the Company received a subpoena in October 2018 from the SEC related to the Company's procurement area, more specifically the Company's accounting policies, procedures, and internal controls related to its procurement function, including, but not limited to, agreements, side agreements, and changes or modifications to its agreements with its suppliers. Following receipt of this subpoena, the Company, together with external counsel and forensic accountants, and under the oversight of the Audit Committee, initiated an investigation into the procurement area, which is now substantially complete. As a result of the findings from the Company's investigation, which identified that several employees in the procurement area engaged in misconduct, the Company has recorded adjustments to correct prior period misstatements that increase the total cost of products sold in prior financial periods, which the Company does not believe constitute a quantitatively material misstatement to any individual period. These misstatements principally relate to the incorrect timing of when certain cost and rebate elements associated with complex supplier contracts and arrangements were initially recognized, and once corrected for, the Company expects to recognize corresponding decreases to costs of products sold in future financial periods. The findings from the investigation did not identify any misconduct by any member of the senior management team. Additionally, the Company has implemented and continues to implement certain remedial actions, including employee personnel actions and certain improvements to its internal controls, to mitigate the likelihood of this occurring in the future. The Company also continues to cooperate fully with the SEC. In connection with the internal investigation, the Company also conducted a comprehensive review of significant supplier contracts to identify other potential misstatements in the timing of the recognition of supplier rebates, incentive payments, and pricing arrangements. The review identified additional misstatements, which may or may not have resulted from the misconduct noted above, primarily related to certain supplier contracts and arrangements where the allocation of value of all or a portion of rebates and up-front payments to contractual elements in the current period should have been deferred and recognized over an applicable contractual period. These misstatements will be corrected for in the same manner as those noted above. The Company corrected these misstatements to defer the up-front consideration from suppliers when the retention or receipt of that consideration was contingent upon future events and to correctly recognize the consideration as a reduction of cost of products sold over the terms of the arrangements with the suppliers. The misstatements arising from the contract review relate to the timing of recognizing certain cost and rebate elements, and the Company thus expects to recognize corresponding decreases to costs of products sold in future financial periods. The Company's investigation and review described above identified required adjustments of approximately $208 million, of which approximately $27 million was recorded in the previously furnished fourth quarter 2018 cost of products sold."

06:23 EDT MultiVir informs new data from phase II program of MIV-711 - Medivir AB informs that new data from the phase II program of MIV-711, has been presented as a poster during the Osteoarthritis Research Society International, or OARSI, world congress. The poster title was Safety and Efficacy of Six Months' Open Label Extension Post-RCT Using the Novel Cathepsin K Inhibitor MIV-711 in Patients with Osteoarthritis. This study demonstrated that MIV-711 has acceptable safety and tolerability in knee osteoarthritis patients, with the overall safety profile in patients completing 12 months of treatment similar to that seen in the placebo-controlled study. The beneficial effects on both bone and cartilage measures as well as symptom measures that were seen in the placebo-controlled study were maintained during the second 6-month treatment period.

06:20 EDT SPAR Group expands contract with MiX Telematics in Southern Africa MiX - MiX Telematics announced that one of Southern Africa's largest fast moving consumer goods retailers are expanding its adoption of MiX's solutions. The SPAR Group has been a long-standing customer of MiX Telematics, with a few hundred vehicles under subscription. The group owns the SPAR retail brand in the region and supports a network of independent retailers supplying goods and services to over 1000 SPAR stores across Southern Africa by means of its six distribution centres.

06:17 EDT Park Hotels & Resorts announces $2.7B acquisition of Chesapeake Lodging - Park Hotels & Resorts (PK) and Chesapeake Lodging Trust (CHSP) announced that they have entered into a definitive merger agreement under which Park will acquire all the outstanding shares of Chesapeake in a cash and stock transaction valued at approximately $2.7B. Upon completion of the merger, the combined company will have an estimated enterprise value of $12B, firmly solidifying Park's position as the second largest lodging REIT while also advancing the company's strategic goals of portfolio enhancement and diversification. The transaction has been approved by the board of directors and board of trustees of Park and Chesapeake, respectively. Under the terms of the merger agreement, Chesapeake shareholders will receive $11.00 in cash and 0.628 of a share of Park common stock for each Chesapeake share. The fixed exchange ratio represents an agreed upon price of $31.00 per share of Chesapeake shares of beneficial interest based on Park's trailing 10-day volume weighted average price as of May 3. Based on Park's closing stock price on May 3, this represents $31.71 per share of aggregate value to Chesapeake shareholders and represents a premium of approximately 11% to Chesapeake's trailing 10-day VWAP and approximately 8% to Chesapeake's closing stock price on May 3. Upon closing, Park stockholders and Chesapeake shareholders will own approximately 84% and 16% of the combined company, respectively. The transaction is subject to customary closing conditions, including receipt of the approval of Chesapeake shareholders. The companies currently expect the transaction to close in late third quarter or early fourth quarter.

06:11 EDT Park Hotels & Resorts sees $24M EBITDA upside in 2020 from Chesapeake portfolio - The combined company expects to implement Park's (PK) proven asset management initiatives to create incremental value across Chesapeake's (CHSP) existing portfolio through already-identified opportunities. Those initiatives include remixing the demand mix by increasing Chesapeake's group segmentation and replacing lower-rated contract business, enhancing food and beverage profitability, driving ancillary income, and sourcing additional cost savings. Overall, Park has identified approximately $24M of potential EBITDA upside in 2020 and approximately $34M of potential EBITDA upside in 2021 across Chesapeake's portfolio, including approximately $17M of annual G&A savings. "Over time, we expect additional value creation will be driven by select ROI projects, potentially including the repurposing of underutilized space as meeting space expansions, adding additional keys, energy efficiency projects and brand repositionings at select properties." The combined company also expects to benefit from enhanced scale in markets in which both companies currently have a presence, such as San Francisco, and from diversification of brand, operators and geography, which translates into the identification and implementation of best practices across the portfolio.

06:07 EDT Park Hotels & Resorts, Chesapeake Lodging boards approve merger - Each of the Board of Directors of Park (PK) and Board of Trustees of Chesapeake (CHSP) has approved the merger. Park's Board of Directors will be increased to ten members upon closing, with two additions from Chesapeake's Board of Trustees. Thomas Baltimore, Jr., Park's Chairman and CEO, will continue to serve as Chairman of Park's Board of Directors, and Baltimore will also continue to lead the combined company, along with Park's existing senior management team. Park plans to sell five non-core hotels prior to the proposed closing, including both of Chesapeake's New York City hotels (the 122-room Hyatt Herald Square New York and the 185-room Hyatt Place New York Midtown South), in addition to three non-core Park hotels which are currently under contract. On a pro forma basis that accounts for these sales, the combined company would consist of 66 high-quality hotels located in key urban and resort markets in 17 states and the District of Columbia.

06:03 EDT Park Hotels & Resorts announces $2.7B acquisition of Chesapeake Lodging - Park Hotels & Resorts (PK) and Chesapeake Lodging Trust (CHSP) announced that they have entered into a definitive merger agreement under which Park will acquire all the outstanding shares of Chesapeake in a cash and stock transaction valued at approximately $2.7B. Upon completion of the merger, the combined company will have an estimated enterprise value of $12B, firmly solidifying Park's position as the second largest lodging REIT while also advancing the company's strategic goals of portfolio enhancement and diversification. The transaction has been approved by the board of directors and board of trustees of Park and Chesapeake, respectively. Under the terms of the merger agreement, Chesapeake shareholders will receive $11.00 in cash and 0.628 of a share of Park common stock for each Chesapeake share. The fixed exchange ratio represents an agreed upon price of $31.00 per share of Chesapeake shares of beneficial interest based on Park's trailing 10-day volume weighted average price as of May 3. Based on Park's closing stock price on May 3, this represents $31.71 per share of aggregate value to Chesapeake shareholders and represents a premium of approximately 11% to Chesapeake's trailing 10-day VWAP and approximately 8% to Chesapeake's closing stock price on May 3. Upon closing, Park stockholders and Chesapeake shareholders will own approximately 84% and 16% of the combined company, respectively. The transaction is subject to customary closing conditions, including receipt of the approval of Chesapeake shareholders. The companies currently expect the transaction to close in late third quarter or early fourth quarter.

05:58 EDT ArcelorMittal to temporarily idle production at steelmaking facilities in Poland - ArcelorMittal announces its intention to temporarily idle production at its steelmaking facilities in Krakow, Poland and reduce production in Asturias, Spain. In addition, the planned increase of shipments at ArcelorMittal Italia to a six million tonne annual run-rate will be slowed down following a decision to optimise cost and quality over volume in this environment. Together, these actions will result in a temporary annualised production reduction of around 3M tonnes. Management said, "The difficult decision to temporarily reduce our European primary flat steel production has not been taken lightly. We understand the impact this has on employees and the local communities and will be working to ensure social measures are in place to support them during this period. These actions reflect the weak demand environment in Europe today, a situation further compounded by increased imports despite the safeguard measures introduced by the European Commission. High energy costs and increasing carbon costs are adding to the tough environment. We are engaging with stakeholders to request that the safeguards are strengthened to prevent a further increase in imports as a result of continued global overcapacity and a weakening economy in neighbouring countries including Turkey. We will also continue to make our case for a green border adjustment to be introduced to ensure that imports into Europe face the same carbon costs as producers in Europe. The steel industry in Europe can have a strong future but there must be a level playing field to ensure that an unfair advantage is not given to competitors outside the region."

05:52 EDT Kosmos reports Q1 net production volume averaged 59,500 boepd -

05:47 EDT Occidental Petroleum reports Q1 average daily production 719,000 BOE - Total average daily production volumes exceeded guidance at 719,000 barrels of oil equivalent for the first quarter, compared to 700,000 BOE for the fourth quarter of 2018. Permian Resources average daily production volumes came in at the high end of guidance at 261,000 BOE for the first quarter of 2019, an increase of 4 percent from the prior quarter due to improved well performance and development activity. Year-over-year, Permian Resources production for the first quarter of 2019 increased by 47 percent. International average daily production volumes exceeded guidance at 298,000 BOE for the first quarter of 2019, compared to 290,000 BOE for the fourth quarter of 2018, due to increased production in Oman.