Stockwinners Market Radar for June 05, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:47 EDT Ensign Group acquired assets of Preceptor Health Care and Golden Palms - Ensign Group announced that a subsidiary of Cornerstone Healthcare, Ensign's home health and hospice portfolio subsidiary, acquired the assets of Preceptor Health Care, which provides home health, hospice, and therapy services in eastern Wisconsin. The acquisition was effective June 1, 2019. In a separate transaction on the same day, Ensign announced that it acquired the real estate and operations of Golden Palms Rehabilitation and Retirement, a 60-bed skilled nursing operation and a senior living center with 38 assisted living beds and 92 independent living units. This acquisition was also effective June 1, 2019. These acquisitions bring Ensign's growing portfolio to 198 skilled nursing operations, 27 of which also include assisted living operations, 56 assisted and independent living operations, 27 hospice agencies, 26 home health agencies and nine home care businesses across sixteen states.

18:59 EDT Insys enters $225M global resolution of criminal, civil investigations with DOJ - Opioid manufacturer Insys Therapeutics agreed to a global resolution to settle the government's separate criminal and civil investigations, the Department of Justice announced. As part of the criminal resolution, Insys will enter into a deferred prosecution agreement with the government, Insys's operating subsidiary will plead guilty to five counts of mail fraud, and the company will pay a $2M fine and $28M in forfeiture. As part of the civil resolution, Insys agreed to pay $195M to settle allegations that it violated the False Claims Act. Both the criminal and civil investigations stemmed from Insys's payment of kickbacks and other unlawful marketing practices in connection with the marketing of Subsys. Insys's drug Subsys is a sublingual fentanyl spray, a powerful, but highly addictive, opioid painkiller. In 2012, Subsys was approved by the Food and Drug Administration for the treatment of persistent breakthrough pain in adult cancer patients who are already receiving, and tolerant to, around-the-clock opioid therapy. Reference Link

18:51 EDT Trump says further talks with Mexico will resume tomorrow - U.S. President Donald Trump tweeted, "Immigration discussions at the White House with representatives of Mexico have ended for the day. Progress is being made, but not nearly enough! Border arrests for May are at 133,000 because of Mexico & the Democrats in Congress refusing to budge on immigration reform. Further talks with Mexico will resume tomorrow with the understanding that, if no agreement is reached, Tariffs at the 5% level will begin on Monday, with monthly increases as per schedule. The higher the Tariffs go, the higher the number of companies that will move back to the USA!" Reference Link

18:51 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: Stitch Fix (SFIX) up 29.0%... Comtech (CMTL) up 13.9%... Five Below (FIVE) up 2.0%. ALSO HIGHER: Casey's General (CASY) up 0.6% after naming new CEO... Canopy Growth (CGC) up 0.4% after being initiated with Buy at Stifel. DOWN AFTER EARNINGS: Cloudera (CLDR) down 30.5%... MongoDB (MDB) down 4.9%... Elastic (ESTC) down 2.3%... Greif (GEF) down 0.5%. ALSO LOWER: La-Z-Boy (LZB) down 5.0% after guiding Q4 below consensus.... Fiat Chrysler (FCAU) down 3.7% after WSJ reported that it has pulled its merger bid for Renault... Coupa Software (COUP) down 3.5% after convertible note offering. Movers as of 18:30ET.

18:43 EDT Anaplan CEO: We have a land and expand model - In an interview on CNBC's Mad Money, Anaplan CEO Frank Calderoni: We're in a great space... Financial planning hasn't been addressed for a long time so there is lots of opportunity... Connected planning ensures a company uses the best available data to make better informed decisions... Our platform isn't pre-packaged, it's tailored to the customer.

18:36 EDT LGI Homes reports 681 home closings in May - LGI Homes, Inc. announced 681 homes closed in May 2019, up from 572 home closings in May 2018, representing year-over-year growth of 19.1%. The company ended the first five months of 2019 with 2,521 homes closed, a 4.1% increase over 2,422 home closings during the first five months of 2018. As of the end of May 2019, the company had 94 active selling communities.

18:32 EDT Kayne Anderson Midstream/Energy Fund reports net assets $613M as of May 31 - Net asset value per share was $12.94.

18:18 EDT FTD Companies receives court approval of motions related to Chapter 11 petitions - FTD Companies announced that the company has received approvals from the U.S. Bankruptcy Court for the District of Delaware for "First Day" motions related to the voluntary Chapter 11 petitions filed on June 3, 2019. The Bankruptcy Court granted the company interim approval to access up to $47M of up to $94.5M in debtor-in-possession financing. The DIP financing, combined with cash generated from the company's ongoing operations, will be used to, among other things, support the business during the court-supervised restructuring process. In addition, the company received Bankruptcy Court approval to, among other things, continue ongoing payments and services without interruption to member florists and business partners supporting the company's operations, manage its continuing relationships with vendors and customers, and pay wages and benefits for continuing employees.

18:03 EDT Reata Pharmaceuticals gets orphan drug designation for bardoxolone in ADPKD - Reata Pharmaceuticals announced the FDA has granted orphan drug designation to bardoxolone methyl for the treatment of autosomal dominant polycystic kidney disease, or ADPKD. ADPKD is the most common inherited form of kidney disease affecting approximately 140,000 patients in the United States. "This is the third orphan drug designation obtained for bardoxolone in the United States for the treatment of diseases characterized by mitochondrial dysfunction and inflammation, and it is the second designation for the treatment of patients with rare forms of CKD," said Warren Huff, Reata's Chief Executive Officer and President.

17:49 EDT SPDR Gold Shares holdings fall to 757.59MT from 759.65MT - This is the first decline in holdings since May 28th.

17:25 EDT RE/MAX Holdings chairman says stock undervalued, buys 122K shares - Dave Liniger, co-founder and chairman of the board of RE/MAX Holdings, stated the following in conjunction with his recent stock purchase of 122,911 shares of RE/MAX Holdings over the past three days: "I consider the RE/MAX stock at current levels to be undervalued. RE/MAX has made key acquisitions, produced outstanding margins and generated strong cash flow. No doubt the industry is changing, as it always has in my 50 years of experience, but the constant that I see through all of this time is consumer preference for quality brokers and agents. Consumers want the speed and convenience that technology has brought to real estate, but they also want the confidence and certainty delivered through personal, professional service. I believe that RE/MAX is uniquely positioned to continue to be the leader in the industry, which is what gives me great confidence that the company is well positioned for the future. That is why I have been buying shares in the open market and may continue to purchase additional shares."

17:09 EDT Ancorsa issues letter to J. Alexander's shareholders, urging sale - Ancora Advisors, which beneficially owns approximately 8.76% of the outstanding shares of J. Alexander's Holdings issued a letter in support of Ancora's campaign urging J. Alexander's shareholders to use the gold proxy card to withhold their votes from the election of Timothy Janszen and Ronald Maggard to the board of J. Alexander's at the 2019 Annual Meeting of Shareholders scheduled to be held on June 20. The letter said in part: "Ancora has proposed to acquire the Company for $11.75 per share in cash, a 24% premium to the unaffected share price prior to our Schedule 13D filing with the Securities and Exchange Commission on March 12. While the Company attempts to dismiss our proposal as undervaluing the company and not bona fide, it is clear from the Board's actions that the directors never had any intention to consider it. The Board did not attempt to engage with us regarding our proposal before rejecting it out of hand... we strongly urge the Board to run a strategic review process to sell the company and maximize value for shareholders. If there are other buyers willing to pay a premium to Ancora's $11.75 per share proposal, by all means, the Board should be exploring that opportunity on behalf of shareholders. We are not alone in calling for the board to do so, as another significant shareholder, Marathon Partners, has urged the Board to conduct a fair and open auction process and sell JAX to the highest bidder."

16:49 EDT RE/MAX Holdings chairman Liniger buys 122.9K shares of common stock - In a regulatory filing, RE/MAX Holdings disclosed that its co-founder and chairman David Liniger bought a total of 122.9K shares of common stock on June 3rd, 4th, and 5th. The total transaction size was ~$3.7M.

16:47 EDT S&T Bancorp, DNB Financial to merge in $206M transaction - S&T Bancorp, Inc. (STBA), the holding company for S&T Bank, with operations in five markets including Western Pennsylvania, Central Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York, and DNB Financial Corporation (DNBF), the holding company for DNB First, a community bank headquartered in Downingtown, Pennsylvania with 14 locations, jointly announced the signing of a definitive merger agreement pursuant to which S&T will acquire DNB in an all-stock transaction. DNB shareholders will receive 1.22 shares of S&T stock for each share of DNB stock. Based on S&T's June 4, 2019 closing price of $38.75 per share, the transaction will have an aggregate value of approximately $206M, or $47.28 per share. The merger will expand S&T's footprint into Southeastern Pennsylvania, gaining a new presence in Chester, Delaware, and Philadelphia counties. On a combined basis, S&T will have approximately $8.4B in total assets. The terms of the merger agreement have been unanimously approved by the boards of directors of both companies. The transaction is expected to be a tax-free exchange to the shareholders of DNB. S&T expects the merger to be accretive to earnings per share in 2020. S&T and DNB expect to complete the transaction during the fourth quarter of 2019 after satisfaction of customary closing conditions, including regulatory approvals and the approval of the shareholders of DNB.

16:39 EDT Waddell & Reed evaluating options for new corporate headquarters - Waddell & Reed Financial announced it has undertaken a comprehensive review of its future real estate needs and is currently evaluating options for a new corporate headquarters. After reviewing numerous locations across the Kansas City metro area, the company is now considering a number of potential sites in Missouri. "Over the past two years we have taken very deliberate and necessary steps to strengthen the foundation of our business," said Phil Sanders, Chief Executive Officer and Chief Investment Officer of Waddell & Reed Financial, Inc. "With the progress we have made over the last two years, we are now in a position to look at the next phase of our business transformation focused both on organic and inorganic growth. As we look to the future, we must have a workplace environment that meets the needs of the workforce of tomorrow, enabling us to attract and retain top talent." The firm anticipates an update on the process later this year.

16:37 EDT Provident Bancorp announces plan of conversion for second-step stock offering - Provident Bancorp, the holding company for The Provident Bank, announced that its board, together with the board of trustees of Provident Bancorp, has adopted a Plan of Conversion. Pursuant to the Plan of Conversion, the Company will reorganize into a new fully public stock holding company structure and will conduct a second-step stock offering of new shares of common stock. As part of the conversion, the Bank will become a wholly owned subsidiary of a new holding company, which will also be named Provident Bancorp, Inc. Shares of common stock of the Company held by persons other than the MHC will be converted into shares of common stock of the new holding company pursuant to an exchange ratio generally intended to preserve the percentage ownership interests of such persons. Shares of Company common stock owned by the MHC will be canceled and the amount of the MHC's ownership interest in the company will be sold through the second-step stock offering. In the stock offering, depositors of the Bank with qualifying deposits as of May 31, 2018, will have first priority to purchase the new shares of common stock.

16:33 EDT NextDecade names Matthew Schatzman as board chairman - NextDecade announced that its board has elected Matthew K. Schatzman, NextDecade's CEO, to serve as chairman of the board. Mr. Schatzman assumed his additional duties effective June 4, 2019. Matthew W. Bonanno, who served as Interim Chairman since May 14, 2019, was appointed Lead Independent Director, also effective June 4, 2019.

16:32 EDT Enbridge confirms construction of pipeline tunnel in Straits of Mackinac - Enbridge confirmed it is proceeding with preparations to advance its 2019 plan in support of constructing a tunnel to house the Straits of Mackinac crossing of the company's Line 5 pipeline. These further preparations include engineering, geotechnical analysis, undertaking pre-application consultation, and filing of permit applications. Enbridge still believes the tunnel can be under construction in 2021 and in service as soon as early 2024, assuming no delays in the permitting process. Enbridge's investment is approximately $500M and it has further committed that operation of the existing Straits Line 5 crossing would cease immediately following the placement into service of the replacement pipeline in the tunnel. This plan would avoid significant impacts to the State's energy supply.

16:27 EDT Loews' Siegel sells over 11,000 common shares - In a regulatory filing, Loews Corp senior VP Kenneth I. Siegel disclosed the sale of 11,037 common shares of the company at a price of $53.18 per share.

16:25 EDT Stitch Fix spikes 24% higher after Q3 report, guidance beat estimates - Shares of Stitch Fix are up 23.63% or $5.57 to $29.14 per share in after-hours trading.

16:24 EDT Asur reports total May passenger traffic up 8.6% - Asur announced that total passenger traffic for May increased 8.6% when compared to May 2018. Passenger traffic rose 6.9% in Mexico, 9.3% in Puerto Rico and 13.7% in Colombia.

16:21 EDT Cloudera CEO says some customers 'elected to postpone' agreements in Q1 - "We continue to make substantial progress toward our goal of delivering the industry's first enterprise data cloud, designed for powerful analytics across hybrid and multi-cloud environments with common security and governance," said Tom Reilly, CEO, Cloudera. "Our enterprise customers are excited about extending their analytic workloads to the public cloud through Cloudera Data Platform, which will be available this summer. While some customers in the first quarter elected to postpone renewal and expansion of their agreements in anticipation of the new platform's release, affecting our full year outlook, this customer feedback and enthusiasm validates demand for enterprise data cloud solutions in our target market. Customers are benefiting from our offerings today, solving complex data management and analytic use cases spanning the Edge to AI, and we look forward to helping them accelerate their journey to the cloud with Cloudera Data Platform."

16:18 EDT Cloudera down 22% to $6.90 after Q1 results, FY20 guidance

16:18 EDT Elastic to acquire Endgame for $234M - Elastic N.V. announced that it has entered into a definitive agreement to acquire Endgame, Inc., a security company focused on endpoint prevention, detection, and response. Under the terms of the agreement, which has been approved by the boards of directors of both companies, Elastic will acquire Endgame for a total purchase price of $234M, subject to customary adjustments. The purchase price will be paid through the issuance of Elastic stock, the assumption of outstanding equity awards and the repayment of outstanding indebtedness, which currently amounts to $14M.

16:12 EDT Liquidia Technologies provides clinical update on Phase 3 INSPIRE study - Liquidia Technologies provided an update on the Phase 3 INSPIRE trial and development of LIQ861 for the treatment of pulmonary arterial hypertension, or PAH. As previously announced, the initial analysis of the INSPIRE study indicated the study has met its primary endpoint of safety and tolerability of LIQ861 at the two-month timepoint. Results from the INSPIRE study indicates that the 75 mcg capsule strength of LIQ861 correlates with the 54 mcg dose of Tyvaso, the maximum recommended label dose of Tyvaso. INSPIRE also included a one-directional, crossover sub-study to assess the comparable bioavailability and pharmacokinetics, or PK, of single doses of LIQ861 and Tyvaso in 18 PAH patients. The company targets NDA submission in late 2019 that will include additional data generated from ongoing development activities. Analysis of the data from the PK sub-study in patients showed variability in systemic plasma levels of both LIQ861 and Tyvaso, which is believed to be attributed to variation in severity of disease and has been seen in prior studies of treprostinil in patients. To more accurately characterize the PK of LIQ861, Liquidia conducted an additional PK study in healthy volunteers. Post-hoc analysis showed that plasma levels of treprostinil were tightly correlated to the LIQ861 dose delivered. The company is continuing work to supplement the PK data set of LIQ861 and to further assess and minimize the variability in dosing levels, which Liquidia believes may be due to the administration technique by some healthy volunteers in the additional study. The company targets a pre-NDA meeting early in the fourth quarter followed by NDA submission in late 2019. As recently reported, 95% of patients transitioning to LIQ861 from stable Tyvaso treatment and 91% of patients on no more than two non-prostacyclin oral PAH therapies have remained on LIQ861 at two months of treatment. Furthermore, positive trends were observed at Month 2 in the exploratory endpoints for both transition and add-on patients with median measures of physical activity and quality of life remaining stable or improving for patients' having both Functional Class II or III PAH.

16:08 EDT ClearSign Combustion signs new expanded MOU with Chinese heating district - ClearSign Combustion announced that the company has signed a new, updated and expanded Memorandum of Understanding with a heating district in Beijing, China. This MOU supplements the previously announced agreement from May of 2017, and expands the scope of the collaborative project. This project, with one of China's largest providers of residential and commercial heating services, is to run pilot tests with the goal of demonstrating ClearSign's combustion technology as a candidate to achieve ultra-low emissions levels in both firetube and watertube boilers. Under the terms of the MOU, the heating district agrees to work with ClearSign to both install and to demonstrate ClearSign's innovative technology in its boilers. The parties are focusing on specific classes of boilers for testing and demonstration of ClearSign's boiler burner technology. The project is a joint collaboration, with ClearSign responsible for the design and fabrication of the combustion technology and overseeing the installation. Upon successful completion of the pilot demonstrations with results meeting agreed upon specifications, the parties have agreed to negotiate a subsequent definitive agreement to retro-fit multiple boilers within the district's operational footprint and to discuss other forms of cooperation.

16:07 EDT Chart Industries gets $1.1B of financing commitments, backs prior guidance - Chart Industries announced that it has received commitments for $1.1B of financing, consisting of a revolving credit facility which will replace and extend Chart's existing $550M revolver, and a new term loan, both of which were oversubscribed. The committed financing will provide available cash to fund Chart's previously announced pending acquisition of Harsco Corporation's Industrial Air-X-Changers business, which is expected to close on July 1. Given the confirmation on expected timing, we are reiterating our 2019 guidance. Our full year 2019 guidance assumes the Harsco AXC acquisition closes on July 1, and includes additional interest from the contemplated financing. Our guidance assumes LNG project revenue in 2019 from the Venture Global Calcasieu Pass and Golar Gimi projects of $28M to $30M, which is subject to project timing. Sales are expected to be in the range of $1.41B to $1.46B for the full year of 2019. We expect full year adjusted earnings per diluted share to be in the range of $2.85 to $3.20 per share, on approximately 32.5M weighted average shares outstanding. This excludes any restructuring costs and transaction-related costs, and as such is a non-GAAP measure. We expect our effective tax rate to be approximately 22% to 23%. Our capital expenditures for 2019 are expected to be in the range of $35 million to $40 million, which includes the build out of an LNG fuel systems production line in Europe and maintenance and productivity capital for the second half of 2019 for Harsco AXC. Our weighted average shares projection excludes any potential future dilution impact associated with our convertible notes.

16:05 EDT Sarepta's treatment of Duchenne muscular dystrophy granted FDA orphan status - Sarepta's treatment of Duchenne muscular dystrophy was granted FDA orphan status, according to a post to the agency's website. Reference Link

16:03 EDT Sangamo's treatment of beta-thalassemia granted FDA orphan status - Sangamo's treatment of beta-thalassemia was granted FDA orphan status, according to a post to the agency's website. Reference Link

16:02 EDT Agios Pharmaceuticals announces planned retirement of Chief Scientific Officer - Agios Pharmaceuticals announced the planned retirement of its chief scientific officer, Scott Biller, Ph.D. Dr. Biller will retire from his CSO position at the end of 2019 and continue to serve as a strategic advisor through the end of 2020. The company has initiated a search to identify his successor. "Scott has been instrumental to Agios' success over the past nine years, guiding the incredible productivity of our research organization and cultivating a great group of senior leaders responsible for Agios' groundbreaking scientific discoveries. Under his leadership, the team has built a robust preclinical pipeline and advanced seven molecules into the clinic that resulted in two marketed therapies and multiple late-stage clinical programs," said Jackie Fouse, Ph.D., chief executive officer at Agios. "Scott's retirement is well earned and marks the pinnacle of his accomplished career. As we search for our next great scientific leader, we are grateful that we will continue to benefit from Scott's insight and have his assistance to ensure a smooth transition to his successor."

15:42 EDT Royal Caribbean to secure alternative ports for 2019, 2020 sailings to Cuba - In response to a question regarding President Trump's travel ban to Cuba, Royal Caribbean provided an update on the matter on its website: "Effective immediately, the U.S. government has implemented new regulations that prohibits travel from the U.S. to Cuba by cruise ship. This change requires us to immediately replace all Cuban ports. For all 2019 sailings on both Majesty of the Seas and Empress of the Seas, we have secured alternative ports and we are in the process of communicating the new itineraries to our guests and travel partners. For these guests, they will have the option of remaining on their sailing with the new itinerary and receiving a 50% refund or they may cancel their cruise and receive a full refund. For 2020 sailings on both Majesty and Empress of the Seas, we are working to secure alternative itineraries and expect to be able to communicate to our guests and travel partners within the next week. We are sorry for this unexpected and sudden change to our guests' upcoming vacations and appreciate their understanding." Reference Link

14:12 EDT Tesla CEO says never had access to Chinese NEV subsidies - Tesla (TSLA) CEO Elon Musk tweeted in response to an article from Teslarati that reporting that the car maker's and NIO's (NIO) sales suffer in China as bump economic conditions continue, saying that only cars made in China are eligible for Chinese new energy vehicle subsidies, and that Tesla "has never had access to them." Musk added that Chinese electric vehicle subsidies "mostly end this month" and "fully end in about 7 months." Reference Link

13:56 EDT Amazon announces AI-powered feature StyleSnap - At MARS 2019 conference, Amazon announced StyleSnap, an AI-powered feature, aimed at helping customers shop. "All you need to do is take a photograph or screenshot of a look that you like," the company said in a blog post. "StyleSnap will present you with recommendations for similar items on Amazon that match the look in the photo. When providing recommendations, StyleSnap considers a variety of factors such as brand, price range, and customer reviews. [...] StyleSnap uses computer vision and deep learning to identify apparel items in a photo, regardless of setting. Deep learning technology also helps classify the apparel items in the image into categories like 'fit-and-flair dresses' or 'flannel shirts.'" Reference Link

13:32 EDT Pfizer says Jeff Settleman to lead Oncology R&D - Pfizer announced that Jeff Settleman, Ph.D., will join the company as Senior Vice President and Group Head of Oncology Research & Development, leading all early oncology research, from discovery to proof of concept clinical studies. Settleman will report directly to Mikael Dolsten, M.D., Ph.D., Chief Scientific Officer and President of Worldwide Research, Development and Medical at Pfizer, and will be based in La Jolla, California. Settleman will join Pfizer effective July 1 from Calico Life Sciences, where he was Distinguished Principal Investigator and Head of Oncology Research.

13:13 EDT Nvidia working on DirectX Raytracing on PC for 'Call of Duty: Modern Warfare - NVIDIA (NVDA) and Activision (ATVI) announced that Nvidia is the official PC partner for Call of Duty: Modern Warfare, scheduled for release on Oct. 25. Nvidia is working side by side with developer Infinity Ward to bring real-time DirectX Raytracing, andNvidia Adaptive Shading gaming technologies to the PC version of the new Modern Warfare. "Call of Duty: Modern Warfare is poised to reset the bar upon release this October," said Matt Wuebbling, head of GeForce marketing at Nvidia. "Nvidia is proud to partner closely with this epic development and contribute toward the creation of this gripping experience. Our teams of engineers have been working closely with Infinity Ward to use Nvidia RTX technologies to display the realistic effects and incredible immersion that Modern Warfare offers."

13:03 EDT Mallinckrodt trading resumes

12:58 EDT Mallinckrodt reports agreement in principle to settle Questcor sales probe - Mallinckrodt reported the company has reached an agreement in principle with the U.S. DOJ to resolve the previously disclosed government investigation of Questcor's legacy sales and marketing activities, which is still subject to the finalization of certain terms. Under the civil False Claims Act settlement, Mallinckrodt expects to pay $15.4M relating to legacy Questcor activities. While the agreement will not contain any admission of wrongdoing, it believes the agreement is fair and reasonable under the circumstances, and should put to rest these government claims relating to Questcor's sales and marketing activities. "Mallinckrodt looks forward to finalizing our settlement agreement with the government relating to legacy Questcor sales and marketing activities. As we have said repeatedly, where we can resolve legacy legal matters in a reasonable and manageable way, we will do so," said Mark Casey, General Counsel, Mallinckrodt. "Unfortunately, that has not been possible to date regarding the allegations relating to Questcor's charitable foundation activities, despite what we believe was lawful and appropriate activity. We are confident that the litigation process will focus the contested issues and be a productive step in reaching resolution."

12:49 EDT Mallinckrodt to 'vigorously defend' legacy Questcor charitable practices

12:44 EDT Netflix is testing a new feed that has trailers, photos, alerts, Variety says - According to a story from Variety's Janko Roettgers, Netflix is testing "a new feed in its mobile app that aggregates trailers, photos and alerts for upcoming shows in an Instagram-like fashion." A Netflix spokesperson confirmed that the feed called Extras is being tested with a sample of Netflix subscribers, added the Variety story. "We are testing a feed of video extras in our mobile app to help fans connect more deeply with the titles they love and discover new ones to watch. These tests typically vary in length of time and by region, and may not become permanent," said a Netflix spokesperson via email, according to Variety. Reference Link

12:33 EDT Boeing CFO says 'clear-eyed' on damage to MAX, other company brands

12:25 EDT Boeing CFO says may potentially push out commercial debut of 777-8

12:23 EDT Boeing: GE facing 'challenges' on testing for 777x engines

12:21 EDT Google Cloud extends its committed use discounts - In a blog posting earlier from Manish Dalwadi, Google's product manager for Compute Engine said in part: "At Google Cloud, we believe cloud pricing should be simple, fair and transparent. You shouldn't need an advanced degree in finance to get the most out of your cloud investment, and you definitely shouldn't have to worry about your cloud provider covering up costs under layers of complexity. Today, we're taking simple, fair and transparent pricing for our Compute Engine service even further with the following announcements:We are extending committed use discounts to support GPUs, Cloud TPU Pods, and local SSDs. Committed use discounts are ideal for predictable, steady-state usage. Now you can purchase a specific number of GPUs, TPU Pods or local SSD storage for up to 55% off on-demand prices. At the same time, you have total control over the instance types, families and zones to which you apply your committed use discounts...We now support capacity reservations for Compute Engine. Reservations allow you to reserve resources in a specific zone to use later. Reservations help ensure you have compute capacity available when and where you need it..." Reference Link

12:16 EDT Gladstone Land acquires Blueberry Farms in Michigan for $7.8M - Gladstone Land Corporation announced that it has acquired two farms totaling 516 gross acres near South Haven, Michigan, for approximately $7.8M. The two farms consist of approximately 383 total acres of blueberry bushes, plus approximately 6 acres of cranberries. The acquisitions also included various farm-related facilities, including two blueberry processing facilities and a fresh packing and cooling facility. In addition, the company entered into a 10-year, triple-net lease on each farm with a leading blueberry grower and processer in the region.

12:11 EDT Boeing CFO says facing questions from regulators on 737 MAX - Says studying short-term and long-term impact on MAX brand. Says has tested 737 MAX software upgrade in 284 flights. Comments made by CFO Greg Smith at the UBS Global Industrials and Transportation Conference.

12:09 EDT YouTube announces removal of 'more hateful and supremacist content' - Alphabet's YouTube said today in a blog post, "YouTube has always had rules of the road, including a longstanding policy against hate speech. In 2017, we introduced a tougher stance towards videos with supremacist content, including limiting recommendations and features like comments and the ability to share the video. This step dramatically reduced views to these videos (on average 80%). Today, we're taking another step in our hate speech policy by specifically prohibiting videos alleging that a group is superior in order to justify discrimination, segregation or exclusion based on qualities like age, gender, race, caste, religion, sexual orientation or veteran status. This would include, for example, videos that promote or glorify Nazi ideology, which is inherently discriminatory. Finally, we will remove content denying that well-documented violent events, like the Holocaust or the shooting at Sandy Hook Elementary, took place. We recognize some of this content has value to researchers and NGOs looking to understand hate in order to combat it, and we are exploring options to make it available to them in the future. And as always, context matters, so some videos could remain up because they discuss topics like pending legislation, aim to condemn or expose hate, or provide analysis of current events. We will begin enforcing this updated policy today; however, it will take time for our systems to fully ramp up and we'll be gradually expanding coverage over the next several months." Reference Link

12:00 EDT CooTek falls -13.0% - CooTek is down -13.0%, or -$1.25 to $8.40.

12:00 EDT Pivotal Software falls -43.8% - Pivotal Software is down -43.8%, or -$8.12 to $10.43.

12:00 EDT Sonic Automotive rises 8.9% - Sonic Automotive is up 8.9%, or $1.84 to $22.58.

11:55 EDT Sen. Sanders: Walmart CEO makes "a thousand times more" than average employee

11:49 EDT Immunomedics Chairman Behzad Aghazadeh buys almost $19M in company shares - Immunomedics Chairman Behzad Aghazadeh disclosed in a filing that he had purchased 1,535,539 shares of company stock at an average price of $12.21 per share between June 3 and June 5. The total transaction value of the purchase was $18,743,250.

11:43 EDT Walmart CEO says federal minimum wage 'lagging behind' - Walmart CEO Doug McMillon says federal minimum wage "lagging behind." Says believes Congress should put a "thoughtful" process in place to raise federal minimum wage. Comments from the company's annual shareholders' meeting.

10:46 EDT Intelligent Systems trading halted, news pending

10:08 EDT Kansas City Southern reports Q2 volumes flat vs. prior year in quarter-to-date - Kansas City Southern's Executive VP and COO Jeffrey Songer gave a presentation at the Deutsche Bank 2019 Global Industrials & Materials Summit. Songer's presentation included updates on the company's operational performance, information on refined product unit train shipments into Mexico, and estimated impact to the second quarter 2019 operating ratio due to the loss of the Mexican fuel excise tax credit. Slides for the presentation state that Q2 volumes are flat vs. prior year in the quarter-to-date.

10:00 EDT Coeur Mining rises 6.7% - Coeur Mining is up 6.7%, or 21c to $3.34.

09:47 EDT Guidewire falls -5.7% - Guidewire is down -5.7%, or -$5.61 to $92.49.

09:47 EDT Pivotal Software falls -32.3% - Pivotal Software is down -32.3%, or -$5.99 to $12.55.

09:47 EDT Campbell Soup rises 7.5% - Campbell Soup is up 7.5%, or $2.84 to $40.95.

09:30 EDT Campbell Soup sees Mexico tariff impact at $2M-$4M

09:15 EDT Campbell Soup says 'wouldn't spend a lot of time speculating' on M&A activity

09:15 EDT Campbell Soup says tariffs 'a little bit of a moving target right now'

09:11 EDT QuinStreet acquires MyBankTracker.com - QuinStreet announced the acquisition of MyBankTracker.com, or MBT, a personal finance website that helps consumers make banking and money decisions. MyBankTracker.com is a source of banking information for consumers. The site provides in-depth information on more than 5,000 banks and credit unions, as well as comparison tools and recommendations that are designed to help consumers find bank accounts, savings products and loans to meet their financial needs. MBT attracted more than 7.5M visitors in 2018, and through its website and media partnerships, has connected more than 50M visitors to bank products and services since its inception. The acquisition enables QuinStreet to provide a broader range of personal finance resources to consumers and brings together and expands the QuinStreet and MBT banking client network.

09:05 EDT CTI BioPharma not in compliance with $1.00 minimum bid price on Nasdaq - CTI BioPharma disclosed last night that it received written notice from The Nasdaq Stock Market on June 3 indicating that the company is not in compliance with the $1.00 minimum bid price requirement for continued listing. The company has a period of 180 calendar days, or until December 2, 2019, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the company's common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180-day period. If CTI BioPharma does not regain compliance with the minimum bid price requirement by December 2, 2019, Nasdaq may grant the company a second period of 180 calendar days to regain compliance, it added. To qualify for this additional compliance period, the company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, other than the minimum bid price requirement.

09:01 EDT Synopsys initiates $100M accelerated share repurchase agreement - Synopsys has entered into an accelerated share repurchase agreement with Bank of America N.A. to repurchase an aggregate of $100M of Synopsys stock. Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 678K shares, with the remainder, if any, to be settled on or before August 19, upon completion of the repurchases. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys' volume-weighted average share price during the repurchase period, less a discount.

08:48 EDT Visa announces new new strategic agreement with Western Union - Visa (V) announced a new strategic agreement with Western Union (WU). Western Union will implement Visa Direct, Visa's real-time push payments platform "in an effort to bring speed and transparency to the process of sending money around the world." Once Western Union's implementation of Visa Direct is live, Western Union will be able to offer customers an "expedited remittance service onto cards with more transparency and an enhanced user experience for both senders and receivers," Visa said today in a statement. "Together Visa Direct and Western Union are collaborating with plans to scale real-time4 cross border payments to businesses and consumers in more than 200 countries and territories in more than 130 currencies," said Bill Sheley, global head of push payments, Visa. "This new strategic relationship with Western Union combines the industry-leading capabilities of the world's largest remittance provider with Visa's global reach, risk management abilities and operating scale, to bring exceptional value propositions and user experiences to senders and receivers around the globe."

08:41 EDT Gamida Cell appoints Tracey Lodie, Ph.D., as Chief Scientific Officer - Gamida Cell announced the appointment of Tracey Lodie, Ph.D., as Chief Scientific Officer. Dr. Lodie will be responsible for setting the scientific strategy, synthetic biology and priorities for Gamida Cell, as well as overseeing translational research for our clinical pipeline. She succeeds Tony Peled, who will transition to the newly created role of chief technology officer, where she will be responsible for leveraging the transformative potential of Gamida Cell's proprietary, nicotinamide-based, or NAM-based, technology, into a multi-product pipeline. Prior to joining Gamida Cell, Dr. Lodie served as senior vice president, translational immunology at BlueRock Therapeutics.

08:40 EDT Omeros says EMA appointed rapporteurs for MAA for OMS721 - Omeros announced that the European Medicines Agency has appointed rapporteurs for the company's marketing authorization application, or MAA, currently in preparation for narsoplimab for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy, or HSCT-TMA. Narsoplimab, also known as "OMS721," is Omeros' lead human monoclonal antibody targeting mannan-binding lectin-associated serine protease-2, or MASP-2, and is in Phase 3 clinical programs for the treatment of HSCT-TMA, immunoglobulin A nephropathy, and atypical hemolytic uremic syndrome. The appointed rapporteurs are members of EMA's Committee for Human Medicinal Products, or CHMP, and will jointly coordinate CHMP's evaluation of Omeros' planned MAA for narsoplimab. Omeros intends to request a pre-submission meeting with the rapporteurs to discuss the planned submission of the MAA. As previously announced, narsoplimab for HSCT-TMA is eligible for submission under EMA's centralized review procedure, which allows submission of a single MAA that, if approved, authorizes the product to be marketed in all 31 member states comprising the European Economic Area rather than requiring separate national approvals. Narsoplimab also has orphan drug designation from EMA for treatment in hematopoietic stem cell transplantation. Omeros is preparing both a U.S. biologics license application, or BLA, and a European MAA for narsoplimab for the treatment of HSCT-TMA.

08:35 EDT Campbell Soup says 'fully commited' to Campbell International sales process - President and CEO Mark Clouse says Campbell cost savings and Snyder's Lance synergies programs "on track" with $535M achieved to date. Says total combined YTD savings at $150M, pacing ahead of schedule. Sees completing sale of Bolthouse Farms this month. Says "fully committed" to sales process for Campbell International, says will remain "disciplined." Comments taken from the Q3 earnings conference call. Shares of Campbell Soup are up 4.4% in pre-market trading.

08:34 EDT Gain Capital CEO expect Q2 results more in line with historical levels - GAIN Capital CEO Glenn Stevens provided a business update while presenting at the Sandler O'Neill Global Exchange and Brokerage Conference. Stevens stated, "Our Q1 results reflected unusually unfavorable market conditions, including the CVIX reaching a near decade low and the Euro in its narrowest quarterly range since its inception, and were an aberration against a backdrop of nearly a decade of being a public company. While customer trading activity has remained subdued and volatility remains lower than normal, we are encouraged by indications that market conditions appear to be returning to more normalized levels in Q2. Specifically, in the first two months of Q2, we are seeing a return to more normal RPM levels, in line with our historical trailing twelve-month rates. We also continue to see the benefit of our increased levels of marketing spend, as average monthly new accounts for the first two months of Q2 are up 8% versus Q1 and up 37% versus 4Q18. Turning to the expense side, we previously guided to an annual range of $190M-$200M of overhead costs for full-year 2019. By focusing on continuing to optimize our cost structure outside of our growth initiatives such as marketing spend, we are now targeting a range of $180M-$190M of overhead costs for the full year. When you add up our strong balance sheet, demonstrated ability to attract new customers, and capacity to generate EBITDA in even less than optimal market conditions, it's clear that we are trading at price levels that are well below our actual value as a company."

08:32 EDT OpenTable announces partnership with Upserve - OpenTable, part of Booking Holdings, announced an industry-first partnership with Upserve, a full-service Restaurant Management Platform. The partnership allows data and guest insights to flow in real-time both ways between OpenTable's GuestCenter operating system and Upserve's restaurant point-of-sale system, enabling servers to have diner information and preferences at their fingertips to help them personalize service on the fly.

08:27 EDT Biomerica Inc signs sales, distribution agreement with MaxHealth for EZ Detect - Biomerica announced it has signed an exclusive sales and distribution agreement with MaxHealth for the sale of its EZ Detect product in China. The agreement requires MaxHealth to meet annual minimum purchase requirements, which in aggregate, equal $17M over the initial seven year term and further requires an upfront pre-payment of $1M after meeting certain conditions. As previously announced, the China FDA has already cleared Biomerica's EZ Detect colorectal screening test for distribution in China.

08:14 EDT Red Robin adopts short-term shareholder rights plan - Red Robin Gourmet Burgers announced that its board has unanimously adopted a short-term shareholder rights plan following the board's evaluation and consultation with the company's advisors. The Rights Plan is similar to plans adopted by other publicly traded companies and is intended to enable all Red Robin shareholders to realize the value of their investment and protect Red Robin from any efforts to obtain control of the company that are inconsistent with the best interests of its shareholders while Red Robin completes its ongoing CEO search and executes on its strategic plan to position the company for significant, sustained shareholder value creation and long-term success. Red Robin remains committed to engaging in constructive dialogue with its shareholders. The board adopted the Rights Plan to deter any entity, person or group from gaining control of Red Robin through the open market or private transactions without paying an appropriate control premium or offering fair and adequate value to all shareholders. It is intended to enable Red Robin shareholders to realize the value of their investment in the company, ensure all shareholders receive fair treatment, and provide the board and shareholders with adequate time to make informed decisions. The Rights Plan is not intended to deter offers that are fair and otherwise in the best interests of the company's shareholders. Pursuant to the Rights Plan, the board is issuing one preferred stock purchase right for each current share of common stock outstanding at the close of business on June 14. Initially, these rights will not be exercisable and will trade with the shares of the company's common stock. Under the Rights Plan, the rights will generally become exercisable if a person or group acquires beneficial ownership of 10% or more of the company's common stock. In that situation, each holder of a right will be entitled to purchase, at the then-current exercise price, additional shares of common stock having a value of twice the exercise price of the right. The board, at its option, may exchange each right in whole or in part, at an exchange ratio of one share of common stock per outstanding right, subject to adjustment. Persons or groups that beneficially own 10% or more of the company's outstanding common stock prior to the company's announcement of the Rights Plan will not cause the rights to be exercisable until such time as those persons or groups become the beneficial owner of any additional shares of the company's common stock. The company's board may redeem the rights for $0.001 per right at any time before the rights become exercisable. Under the terms of the Rights Plan, the rights will expire on June 2, 2020.

08:07 EDT NV5 Global acquires Alta Environmental in all-cash transaction - NV5 Global announced that it has acquired Alta Environmental, a consulting firm specializing in air quality, environmental building sciences, water resources, site assessment and remediation as well as environmental health and safety compliance services. Alta employs 41 environmental engineers and professionals and is based in Long Beach, California. Alta's client portfolio includes retail chains, manufacturers, airports, small and large municipalities, members of the aerospace industry and higher education. The acquisition was an all-cash transaction and will be immediately accretive to NV5's earnings.

08:05 EDT Rubius Therapeutics announces issuance of three patents from USPTO - Rubius Therapeutics announced the issuance of three patents from the U.S. Patent and Trademark Office, or USPTO, related to its rare disease and oncology programs and platforms. Two of the issued patents cover composition of matter and methods of use for the company's lead investigational cellular therapy, RTX-134, for the treatment of patients with phenylketonuria. The third patent, the company's first issued composition of matter patent in immuno-oncology, relates to human cells having a checkpoint inhibitor linked to the cell surface. In total, Rubius Therapeutics has 29 patent families and more than 125 pending patent applications worldwide.

08:01 EDT Microsoft, Oracle announce cloud interoperability partnership - Microsoft (MSFT) and Oracle (ORCL) announced a cloud interoperability partnership enabling customers to migrate and run mission-critical enterprise workloads across Microsoft Azure and Oracle Cloud. Enterprises can now seamlessly connect Azure services, like Analytics and AI, to Oracle Cloud services, like Autonomous Database. By enabling customers to run one part of a workload within Azure and another part of the same workload within the Oracle Cloud, the partnership delivers a highly optimized, best-of-both-clouds experience. Taken together, Azure and Oracle Cloud offer customers a one-stop shop for all the cloud services and applications they need to run their entire business.

07:45 EDT Gol Linhas reports preliminary May traffic up 7.0% - GOL Linhas Aereas reported preliminary air traffic figures for May, 2019. GOL's domestic supply increased by 0.5% and demand increased by 7.0%. GOL's domestic load factor was 82.9%, a 5.0 p.p. increase in comparison to May 2018. The volume of departures decreased by 4.6% and seats decreased by 1.0% over May 2018. GOL's international supply and demand increased by 55.6% and 71.9%, respectively, and international load factor was 75.3%, an increase of 7.1 p.p. in relation to May 2018. GOL's total supply was 5.8% higher due to a 1.2% increase in seats, a 2.3% decrease in departures and an increase in stage length. GOL's total demand increased by 12.5% in comparison to May 2018 and consolidated load factor was 81.9%.

07:38 EDT Campbell Soup up 3.8% after reporting Q3 results, raising FY19 adj. EPS view

07:36 EDT OrthoPediatrics acquires Vilex, Orthex for $60M in cash and stock - OrthoPediatrics announced that it has acquired Vilex in Tennessee and Orthex, including its Orthex Hexapod circular fixation technology and proprietary CORA-based x-ray planning software, for a total of $60M, consisting of $50M in cash and $10Min stock. The transaction will be financed, in part, with $30M of new debt provided by Squadron Capital on similar terms to the other debt it has provided OrthoPediatrics. Vilex is primarily a foot and ankle surgery company with a product portfolio targeting pediatric patients and adults that generated $11.8M in total sales, which are derived primarily from the U.S and approximately $2.9M of net income in FY18. Its Orthex Hexapod technology is its most rapidly growing system, reaching sales of $3.1M in 2018, increasing more than 50% year-over-year since receiving FDA clearance in March 2016. Orthex is used to treat pediatric congenital deformities and limb length discrepancies such as fibula and tibia hemimelia, radial clubhand, ankle equinus, Blount's disease, genu recurvatum and multiapical deformities. Vilex also sells a range of 13 families of surgical products, some of which are used to treat pediatric conditions of the extremities such a flatfoot reconstruction, subtalar arthroereisis and arthrodesis procedures of small bones. The Orthex Hexapod system offers unique hardware, including its calibrated struts and infection-reducing Hydroxy-apatite coated pins. However, its advantage is the patented point and click software, which simplifies deformity correction planning.

07:33 EDT GAIN Capital reports May operating metrics - In the retail segment in May, OTC Trading Volume was up 23.2% sequentially and down 25.9% y/y. OTC Average Daily Volume was up 16.4% sequentially and down 29.7% y/y. 12 Month Trailing Active OTC Accounts were down 1.2% sequentially and were down 9.2% y/y. 3 Month Trailing Active OTC Accounts were up 1.4% sequentially and down 10.0% y/y.

07:20 EDT SAIC wins 'prime spot' on $245M USMC training contract - SAIC won a prime contractor spot on the $245M Marine Air-Ground Task Force Training Systems Support multiple-award indefinite-delivery, indefinite-quantity contract. The company will compete for task orders to support pre-deployment training programs to Marine Corps operating forces within the context of Joint and combined environments to improve warfighting skills. The support will include exercise and mission rehearsal support; planning and structuring training; supporting live, virtual, constructive, and gaming training scenarios; and executive and technical training support. This contract has a 10-year period of performance, and the work will be conducted around the world. SAIC is one of seven awardees.

07:17 EDT Alnylam completes rolling submission of NDA to FDA for givosiran - Alnylam Pharmaceuticals announced the completion of the rolling submission of a New Drug Application, or NDA, to the FDA for givosiran, "an investigational RNAi therapeutic targeting aminolevulinic acid synthase 1 in development for the treatment of acute hepatic porphyria, or AHP." Givosiran previously received Breakthrough Therapy Designation from the FDA and Orphan Drug Designation in the U.S. for AHP.

07:11 EDT Main Street makes $15M portfolio investment in Trantech Radiator Products - Main Street recently completed a new portfolio investment to facilitate the management led buyout of Trantech Radiator Products, a domestic designer, manufacturer, and supplier of branded radiators and cooling systems for transformer original equipment manufacturer products. Main Street, along with its co-investors, partnered with the company's senior management team to facilitate the transaction, with Main Street funding $15.1M in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street and one of its co-investors are providing Trantech a credit facility to support its future growth initiatives and working capital needs. Founded in 1932, and headquartered in Edgefield, South Carolina, Trantech manufactures radiators of a wide variety of sizes, shapes, and finishes designed to withstand harsh environments.

07:07 EDT McDermott and Saipem's JV signs LNG contract with Anadarko in Mozambique - McDermott (MDR) announced that CCS JV, a joint venture between McDermott, Saipem (SAPMY) and Chiyoda, has reached full agreement for a contract with Anadarko (APC) for the Mozambique Area 1 Liquefied Natural Gas Development. CCS JV's project scope includes the onshore engineering, procurement and construction for all components of the onshore LNG development, which includes two LNG trains with a total nameplate capacity of 12.88 million tons per annum, plus the associated utilities and infrastructure. Previously, CCS JV provided front-end engineering design services for this LNG development. McDermott's initial portion of the EPC contract award is approximately $2B. Work at the site is expected to commence when Anadarko issues a Notice to Proceed after it takes a Final Investment Decision. As the operator of Offshore Area 1, Anadarko is the primary project sponsor. The contract award will be reflected in McDermott's backlog once Anadarko approves FID, which is expected in June.

07:05 EDT Teva chairman Barer buys 104.5K shares of common stock - In a regulatory filing, Teva disclosed that its chairman Sol Barer bought 104.5K shares of common stock on June 4th. The total transaction size was $1.0M.

07:03 EDT Cango announces $10M share repurchase program - Cango announced that its board of directors has authorized a share repurchase program under which the company may repurchase up to $10M worth of its outstanding (i) American depositary shares, each representing two Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from June 5.

07:02 EDT Information Services forms partnership with Thoughtonomy - Information Services has expanded its automation ecosystem by forming a partnership with Thoughtonomy, an intelligent automation platform provider. The partnership will give ISG clients access to Thoughtonomy's Software-as-a-Service platform that combines software robotics and artificial intelligence to deliver automation resources from the cloud.

07:02 EDT Volaris reports May traffic up 26.1%, capacity up 22.9% - Load factor increased 2.2 pp to 88%.

06:59 EDT Geo Group expands capacity at ICE Montgomery Processing Center - GEO Group has entered into a contract modification with U.S. Immigration and Customs Enforcement to increase the contract capacity at the company-owned Montgomery Processing Center in Conroe, Texas by 314 beds increasing the Center's capacity to 1,314 beds. The 314-bed contract capacity increase is expected to be fully operational in September and generate incremental annualized revenues of approximately $10M. The Montgomery Processing Center was developed by GEO under a ten-year contract with ICE and opened in September 2018.

06:56 EDT Geo Group negotiating 300-bed center capacity increase with State of Victoria - GEO Group's subsidiary, The GEO Group Australia, is currently in negotiation discussions with the State of Victoria to increase the capacity at the Ravenhall Correctional Centre by an additional 300 beds increasing the Centre's capacity to 1,600 beds. The 300-bed capacity increase is expected to generate incremental annualized revenues of $19M. The Ravenhall Correctional Centre was developed by a GEO led consortium. The $700M project was financed under a Public-Private Partnership structure, which included a capital investment from GEO of approximately $90M with returns on investment consistent with GEO's company-owned facilities. GEO Australia operates the Centre, which opened in late 2017, under a 25-year contract with the State of Victoria.

06:49 EDT W&T Offshore provides operational update on Gulf of Mexico drilling and awards - W&T Offshore provided an operational update regarding the drilling of the Gladden Deep well in the deepwater of the Gulf of Mexico and the awarding of leases from the federal lease sale held earlier this year. W&T announced an oil discovery at its first exploration well in 2019 at Gladden Deep in the deepwater Gulf of Mexico in Mississippi Canyon block 800. W&T operated the well which is one of the 14 wells planned for the drilling program under the Monza JV. The company owns a 17.25% interest in the discovery. Gladden Deep is located in approximately 3,000 feet of water and was drilled to a total measured depth of 18,324 feet and encountered 201 feet of net oil pay. This single-well completion is expected to be brought online in Q4 through a sub-sea tie back. W&T was recently awarded 14 of the 15 blocks on which it was apparent high bidder in the Gulf of Mexico Lease Sale 252. W&T was awarded eight deepwater and six shallow water blocks. These 14 blocks add approximately 69,000 gross acres to W&T's offshore portfolio with the company owning a 100% working interest in the acreage. All of the blocks have a five-year lease term, with the exception of one of the deepwater blocks which has a seven-year lease term. The royalty rate for eight of the blocks is 12.5%, and the remaining seven leases are at a rate of 18.75%.

06:12 EDT BMW, Jaguar Land Rover to jointly develop electric car parts - The BMW Group (BMWYY) and Jaguar Land Rover (TTM) confirmed they are joining forces to develop next generation electric drive units in a move that supports the advancement of electrification technologies necessary to transition to an ACES future. Starting next year, the BMW Group will introduce an electric drive unit, the fifth generation of its eDrive technology, with the BMW iX3 Sports Activity Vehicle. The Gen 5 electric drive unit will be the propulsion system upon which subsequent evolutions launched together with Jaguar Land Rover will be based. The cooperation allows the BMW Group and Jaguar Land Rover to take advantage of cost efficiencies arising from shared development of future evolutions and production planning costs as well as economies of scale from joint purchasing. A joint team of BMW Group and Jaguar Land Rover experts located in Munich will be tasked with further developing the Gen 5 power units with production of the electric drivetrains to be undertaken by each partner in their own manufacturing facilities. Both companies will seek to adhere to their own brand-specific propositions in any project.

06:06 EDT Sierra Oncology says momelotinib granted Fast Track designation by FDA - Sierra Oncology announced that the FDA has granted Fast Track designation to momelotinib, a JAK1, JAK2 and ACVR1 inhibitor, for the treatment of patients with intermediate/high-risk myelofibrosis who have previously received a JAK inhibitor.

06:04 EDT 360 Finance signs strategic cooperation agreement with China Bohai Bank - 360 Finance has signed a comprehensive strategic cooperation agreement with China Bohai Bank, a national joint-stock commercial bank approved by the State Council in China, following three years of cooperation. Both parties will leverage their respective strengths to fortify relationships with major funding partners and develop higher-quality integrated financial services. Going forward, both parties will jointly work to develop further opportunities in payment settlement, inclusive finance, retail finance, and corporate finance.

06:03 EDT Carvana expands in central Florida - Carvana launched in two Florida markets, offering as-soon-as-next-day vehicle delivery to Lakeland and North Port. With this launch, Carvana now offers as-soon-as-next-day vehicle delivery in seven Florida markets and a total of 131 markets across the U.S.

05:34 EDT Teledyne sees gas and flame detection business acquisition accretive to GAAP EPS - Teledyne Technologies (TDY) announced that it has submitted a binding offer for Teledyne to acquire the gas and flame detection business of 3M (MMM) for $230M in cash. Teledyne management expects the transaction to be accretive to GAAP EPS in the first year after the acquisition.

05:27 EDT NXP Semiconductors enters DMS collaboration with Momenta - NXP Semiconductors and Momenta announced a collaboration on automotive-grade Driver Monitoring Solutions, or DMS. "These solutions form the basis of the systems that monitor driver attentiveness, and play important roles in increasing safety on the road and helping carmakers address upcoming NCAP requirements." The joint effort between NXP and Momenta aims to enable car makers to deploy DMS applications into mass automotive production. The first solution from the NXP and Momenta collaboration will "combine the high performance, power-efficient architecture of NXP's Open Vision Platform, S32V2, with Momenta's deep learning software and expertise." The solution aims to optimize, compress and accelerate deep neural networks so that they can run efficiently on an automotive-grade DMS embedded platform.

05:14 EDT Black Hills files rate review application with Wyoming Public Service Commission - Black Hills filed a rate review application with the Wyoming Public Service Commission for its proposed natural gas utility, Black Hills Wyoming Gas, LLC, doing business as Black Hills Energy, to consolidate the tariffs, rates, and terms and conditions of its four natural gas utilities in Wyoming. The rate review also requests $16.1M in new revenue to recover the company's investments in safety, reliability and system integrity for service to its 129,500 Wyoming customers, including $49M invested in 2018 and $106M planned investment in 2019, which includes the $54M Natural Bridge pipeline project.