Stockwinners Market Radar for July 29, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:50 EDT U.S. Appeals Court affirms that Coherus' Udenyca does not violate Amgen patent - Coherus BioSciences (CHRS) announced that the United States Court of Appeals for the Federal Circuit has affirmed the decision of the United States District Court for the District of Delaware that Coherus' UDENYCA, or pegfilgrastim-cbqv, a pegfilgrastim biosimilar, does not infringe Amgen's (AMGN) asserted patent. Coherus launched UDENYCA in the United States in January 2019. As previously reported, on May 10, 2017, Amgen filed a patent infringement complaint under the Biologics Price Competition and Innovation Act against Coherus asserting U.S. Patent 8,273,707. In June 2017, Coherus filed a motion to dismiss the lawsuit on the grounds that Coherus' UDENYCA could not be found to infringe Amgen's patent. The District Court granted Coherus' motion to dismiss the case in March 2018. Amgen subsequently appealed, and the parties participated in an oral argument before the Federal Circuit on May 8, 2019.

20:06 EDT NXP Semiconductors reports Q2 adj operating income $640M vs. $618M last year

19:16 EDT Capital One sees incident generating costs of $100M-$150M in 2019 - Capital One said it expects the disclosed data security incident to generate incremental costs of approximately $100M-$150M in 2019. Expected costs are largely driven by customer notifications, credit monitoring, technology costs, and legal support. "We expect to accrue the costs for customer notification and credit monitoring in 2019," the company said. "The expected incremental costs related to the incident will be separately reported as an adjusting item as it relates to the Company's financial results. For years we have invested heavily in cybersecurity and we will continue to do so. Beyond the adjusting item in 2019, we expect any incremental investments in cybersecurity to be funded within our current budget. The Company carries insurance to cover certain costs associated with a cyber risk event. This insurance is subject to a $10 million deductible and standard exclusions and carries a total coverage limit of $400 million. The timing of recognition of costs may differ from the timing of recognition of any insurance reimbursement. Gains on insurance recoveries associated with the incident will also be treated as an adjusting item as it relates to the Company's financial results. The Company is affirming its existing efficiency guidance, which in all cases is net of adjustments. The Company expects to achieve modest improvement in 2019 annual operating efficiency ratio compared to the 2018 annual operating efficiency ratio. Relative to 2019, the Company also continues to expect modest improvement in 2020 annual operating efficiency ratio. And the Company continues to expect annual operating efficiency ratio to be 42 percent in 2021. The Company continues to expect that improvements in operating efficiency ratio will also drive significant improvement in annual total efficiency ratio in 2021."

19:14 EDT Capital One says breach affected about 100M in U.S., about 6M in Canada

19:11 EDT Nabors Industries CEO says EBITDA to continue improving - CEO William Retrepo says: "In the U.S., our strategy of deploying the highest-specification rigs to the industry's most demanding customers has been successful, as demonstrated by our Lower 48 results. However, we also believe the current market conditions are likely to result in a temporary decrease in utilization in our Lower 48 operations during the third quarter. Nonetheless, we are encouraged by customer inquiries regarding the availability of our higher-spec rigs to support their drilling plans for early 2020, which we expect to benefit our fourth quarter 2019 results. On a consolidated basis we expect our adjusted EBITDA to continue improving over the following quarters."

18:51 EDT Archrock sees FY19 net income $70M-$80M - Sees FY19 growth capital expenditures $285M-$300M.

18:47 EDT Texas Instruments SVP Bahai sells 10,000 common shares - In a regulatory filing, Texas Instruments senior vice president Ahmad Bahai disclosed the sale of 10,000 common shares of the company at a price of $127.11 per share.

18:45 EDT Discover's Offereins sells 20,000 common shares - In a regulatory filing, Discover Financial's Diane E. Offereins disclosed the sale of 20,000 common shares of the company at a price of $91.76 per share.

18:16 EDT Mid-Con Energy names Chad Roller COO of Mid-Con Energy GP - Mid-Con Energy Partners announced the appointment of Chad B. Roller as Chief Operating Officer of Mid-Con Energy GP, LLC, the general partner of the Partnership, effective July 24, 2019. Since 2012, Dr. Roller has held a number of positions of increasing responsibility with Mid-Con Energy Operating, LLC, including most recently, as Vice President of Development and senior reservoir engineer.

18:04 EDT Celanese to increase price on Amcel and Celcon Polyacetal grades - Celanese announces price increases of 5c/kg on its Amcel and Celcon polyacetal grades and other functionalized grades.

17:49 EDT Chipotle director sells 1,164 shares of common stock - In a regulatory filing, Chipotle disclosed that its director Albert Baldocchi sold 1,164 shares of common stock on July 25th. The total transaction size was $902K.

17:49 EDT Northrop Grumman subsidiary awarded $167.34M Navy contract for 263 AARGM - Alliant Techsystems Operations, a wholly owned subsidiary of Northrop Grumman, has been awarded a $167.34M firm-fixed-price contract for 263 full-rate production Lot 8 advanced anti-radiation guided missiles, or AARGM. This contract provides for conversion of U.S. government-provided AGM-88B high speed anti-radiation missiles into 260 AGM-88E AARGM all-up-rounds and three captive air training missiles, including supplies and services required for manufacture, spares and fleet deployment. Work will be performed in Northridge and Ridgecrest, California and is expected to be completed in March 2022. FY17, FY18 and FY19 weapons procurement; FY19 research, development, test and evaluation; and FY19 operations and maintenance funds in the amount of $167.34M will be obligated at time of award, $1.32M of which will expire at the end of the current fiscal year. This contract was not competitively procured pursuant to Federal Acquisition Regulation 6.302-5. The Naval Air Systems Command is the contracting activity.

17:40 EDT J&J says FTC investigating Remicade contracting practices - Johnson & Johnson disclosed in a regulatory filing that, in June 2019, the U.S. Federal Trade Commission issued a Civil Investigative Demand to the company in connection with its investigation of whether Janssen's REMICADE contracting practices violate federal antitrust laws.

17:29 EDT DPW Holdings receives noncompliance notice from NYSE - DPW Holdings announced it had received a deficiency letter from NYSE indicating that the company is not in compliance with the continued listing standards as set forth in Section 1003 of the NYSE American company guide. Specifically, the letter informed the company that the exchange has determined that the shares of the company's common stock have been selling for a low price per share for a substantial period of time and, pursuant to section 1003 of the company guide, the company's continued listing is predicated on the company effecting a reverse stock split of the shares, which is scheduled to become effective on August 6, or otherwise demonstrating sustained price improvement within a reasonable period of time, which the exchange determined to be no later than September 16.

17:07 EDT SS&C down 12% to $52.52 after FY19 revenue outlook misses estimates

16:55 EDT Bank of America, First Data to pursue independent merchant services strategies - Bank of America (BAC) and First Data (FDC), now Fiserv (FISV), announced that they will pursue independent merchant services strategies beginning June 2020, when the contract concludes for the companies' joint venture, Banc of America Merchant Services. Bank of America and First Data have an agreement to provide uninterrupted delivery of products and services to Banc of America Merchant Services' clients through at least June 2023. Going forward, First Data will be an important service provider supporting Bank of America's global payment solutions.

16:42 EDT MTS Systems awarded $30.4M contract by U.S. Army - MTS Systems announced award of a contract valued at $30.4M, inclusive of all options, to design and build the world's largest spindle-coupled road simulator for the U.S. Army. The contract will be incrementally funded, and the majority of options exercisable in fiscal years 2020, 2021 and 2022. The road simulator will be installed at the U.S. Army's Aberdeen Test Center in Maryland, and used to accelerate military vehicle durability testing, compressing the required testing time by 75 to 80%.

16:38 EDT Tanger Factory announces new director, board refreshment - Tanger Factory Outlet Centers announced that Luis Ubinas has been appointed to its Board of Directors, effective July 29. Ubinas' appointment, along with the recent addition of Susan Skerritt, represents the board's focused effort to refresh the composition of the board. Furthermore, the company's three longest serving independent directors, Allan Schuman, William Benton, and Thomas Robinson, will retire from the board at the end of their current term in May, 2020 and not stand for re-election. In May of this year, as part of the board's chair rotation practice, David Henry was appointed to the role of Non-Executive Chair of the Board, replacing Thomas Reddin.

16:35 EDT Rock Springs Capital reports 5.09% passive stake in Aclaris Therapeutics - In a regulatory filing, Rock Springs Capital disclosed a 5.09% stake in Aclaris, which represents 2.1M shares. The filing does not allow for activism.

16:35 EDT NTN Buzztime signs extension for 64 Buffalo Wild Wing franchises - NTN Buzztime signed an agreement with Diversified Restaurant Holdings to extend its entertainment services for 64 Buffalo Wild Wing franchises through December 2020. Ram Krishnan, NTN Buzztime CEO said, "Already, one of the largest Buffalo Wild Wing franchise owners, Diversified Restaurant Holdings, extended 64 venues for another year with some locations converting to a mobile only based experience. We hope they are the first of many franchisees to protect their patron experience as well as take advantage of our new mobile and capital light offering."

16:32 EDT WD-40 to record reserve for uncertain tax position in Q4, lowers FY19 outlook - WD-40 announced that it will record a reserve for an uncertain tax position in the fourth quarter of its fiscal year 2019 which will result in a reduction of approximately $8.7M, inclusive of accrued interest of approximately $0.4M, in the company's earnings for the fourth quarter and the fiscal year ending August 31. "Following the U.S. Treasury Department's recent publication of final regulations pertaining to the application of provisions of the Tax Cuts and Jobs Act for calculation of the one-time toll tax on unremitted foreign earnings, our internal tax department together with outside tax advisors recently concluded an assessment of the final regulations and the impact of the issuance of those regulations on the company's tax position," said Jay Rembolt, WD-40 Company's vice president and CFO. "In our recently filed quarterly report on Form 10-Q, we noted that the final regulations are inconsistent with our tax position relating to the one-time toll tax. Based on our review of the final regulations and other relevant considerations, we have concluded that it is appropriate to record a reserve for an uncertain tax position relating to our determination of the toll tax as reported on our tax return for fiscal year 2018." These developments have prompted the company to lower its fiscal year 2019 guidance for net income and diluted earnings per share by approximately $8.7M and 63c per share, respectively, based on an estimated 13.8 million weighted average shares outstanding.

16:32 EDT Hepion Pharmaceuticals receives FDA authorization to proceed with CRV431 trial - Hepion Pharmaceuticals announced that the FDA has reviewed its investigational new drug, or IND, application for CRV431 for the treatment of NASH and has authorized that the company proceed with its planned IND opening study. This IND for NASH is in addition to the company's current open IND for hepatitis B virus. Hepion's planned IND opening study will enroll 24 patients consisting of eight with mild, eight with moderate, and eight with severe hepatic impairment, based on established Child-Pugh scores. Up to an additional 24 healthy subjects will serve as the control group. The objective of the IND opening study and proposed clinical development program is to characterize the safety, tolerability and pharmacokinetics of CRV431 monotherapy in patients with liver disease to establish dose ranges for patients with differing degrees of NASH.

16:30 EDT Beyond Meat sinks 13%, or $28.63, to $193.20 after Q2 results, stock offering

16:29 EDT Alexandria Real Estate reports net operating income up 14.6% vs. last year - Reports same property net operating income growth: 4.3% and 9.5% (cash basis) for Q2, compared to Q2 of FY18.

16:28 EDT Granite accelerates strategic review of Heavy Civil Operating Group - Granite Construction announced that it has accelerated its strategic review of the Heavy Civil Operating Group with a "clear objective" to expedite the company's plan to reduce risk and exposure to "large, complex projects." Granite said, "The industry pricing and associated risk for this type of work does not align with the Company's stakeholder expectations. Granite intends to consolidate the Heavy Civil Group operations and pursue opportunities in markets where Granite's presence, capabilities and resources provide strategic advantages. Granite continues to emphasize lower-risk, smaller-scope projects, particularly negotiated work, construction management/general contractor, construction management at-risk and other best-value procurement methods. This higher-margin, lower-risk portion of Granite's portfolio has grown in the last year to more than $1 billion of CAP as of June 30, 2019." It added, "These immediate actions are in addition to the changes we began implementing more than two years ago in how we approach projects of significant scale in our portfolio," Roberts continued. "As we move forward, we plan to eliminate the Company's exposure associated with constructing complex 'mega-projects' to improve the stability and trajectory of our results. Our construction, materials and water businesses continue to perform well and are indicative of the overall health of the Company, as well as the current robust and buoyant market environments in which we operate. We are very encouraged by the underlying performance of the majority of our business and look forward to discussing market dynamics and bidding activity on our earnings call. We continue to have confidence in both our short-term and long-term prospects and anticipate steady growth and exciting expansion opportunities across our end-market focused businesses."

16:27 EDT Granite 'clearly disappointed' with performance of portion of portfolio - The company said, "We are clearly disappointed with the outcome of the performance of this portion of our portfolio, and the impact on our results. The charges taken this quarter reflect the current challenges and future risks of four legacy, unconsolidated joint venture projects that were all bid more than five years ago. We are taking decisive action and accelerating the strategic review of our Heavy Civil Operating Group to pave the way for steady, predictable results."

16:24 EDT Integra LifeSciences acquires Aekis Biosciences - Integra LifeSciences Holdings Corporation announced that it has acquired Arkis Biosciences, a privately-held company that offers a portfolio of neurosurgical devices, including the CerebroFlo external ventricular drainage catheter with Endexo technology, a permanent additive designed to reduce the potential for catheter obstruction due to thrombus formation. Integra LifeSciences does not expect this acquisition to have a material financial impact in 2019.

16:21 EDT Vishay announces cost reduction, management termination programs - Vishay Intertechnology announced "global cost reduction and management rejuvenation programs as part of its continuous efforts to improve efficiency and operating performance." The programs are primarily designed to reduce manufacturing fixed costs and selling, general, and administrative costs company-wide, and provide management rejuvenation. The programs in total are expected to lower costs by approximately $15M annually when fully implemented, at expected costs of approximately $25M. The implementation of these programs will not impact planned research and development activities. The company will first solicit volunteers to accept a voluntary separation/early retirement offer. The voluntary separation benefits vary by country and job classification, but generally offer a cash loyalty bonus. Additional involuntary terminations will likely be necessary to achieve the cost reduction targets. The company expects these cost reductions to be fully achieved by December 2020. Except for these programs, the company does not anticipate any other material restructuring activities during the remainder of 2019 or 2020. However, a continued sluggish business environment for the electronics industry or a significant economic downturn may require the company to implement additional restructuring initiatives.

16:16 EDT Illumina now expects Pacific Biosciences acquisition to close in Q4 - Illumina (ILMN) said, "Except for acquisition-related expenses incurred during the first half of 2019 which are reflected in our GAAP guidance, this guidance excludes any impact from the pending acquisition of Pacific Biosciences (PACB), which we now expect to close in Q4 2019."

16:11 EDT Texas Roadhouse reports Q2 comparable restaurant sales up 4.7% - Texas Roadhouse said that Q2 comparable restaurant sales increased 4.7% at company restaurants, and 4.3% at domestic franchise restaurants.

16:07 EDT Beyond Meat to prioritize efforts to expand distribution channels - The company said, "We are very pleased with our second quarter results which reflect continued strength across our business as evidenced by new foodservice partnerships, expanded distribution in domestic retail channels, and accelerating expansion in our international markets. We believe our positive momentum continues to demonstrate mainstream consumers' growing desire for plant-based meat products both domestically and abroad. Looking ahead, we will continue to prioritize efforts to increase our brand awareness, expand our distribution channels, launch new innovative products, and invest in our infrastructure and internal capabilities in order to deliver against the robust demand we are seeing across our business."

16:05 EDT iRadimed appoints Leslie McDonnell CEO - iRadimed announced that its board unanimously appointed Leslie McDonnell, to succeed Roger Susi as president and CEO. Susi will step down as president and CEO on August 19 after leading the company since its founding. Susi will remain highly engaged with the company by continuing as its chairman and in the new position of Chief Technology Officer. McDonnell was also elected to the board effective August 19. McDonnell previously served as VP and General Manager of the Newborn Care business unit at Natus Medical.

16:04 EDT Beyond Meat to prioritize efforts to expannd distribution channels - The company said, "We are very pleased with our second quarter results which reflect continued strength across our business as evidenced by new foodservice partnerships, expanded distribution in domestic retail channels, and accelerating expansion in our international markets. We believe our positive momentum continues to demonstrate mainstream consumers' growing desire for plant-based meat products both domestically and abroad. Looking ahead, we will continue to prioritize efforts to increase our brand awareness, expand our distribution channels, launch new innovative products, and invest in our infrastructure and internal capabilities in order to deliver against the robust demand we are seeing across our business."

16:02 EDT Cognex CEO says near term outlook worsened - CEO Robert J. Willett says: "Despite continued strong growth in logistics, the slowdown in spending by customers in our two largest markets resulted in lower overall revenue for Cognex. Because of that slowdown we have reallocated resources to faster-growing areas. "Our long-term positive view notwithstanding, our outlook for the near term has worsened due to a further deterioration in business conditions we are seeing in Europe and Asia."

14:29 EDT Camber Capital reports 5.5% passive stake in Atara Biotherapeutics - In a regulatory filing, Camber Capital disclosed a 5.55% stake in Atara Biotherapeutics, which represents 2.95M shares. The filing does not allow for activism.

13:59 EDT Citigroup Global Markets fined $1.25M by FINRA for failure to screen employees - FINRA announced it has fined Citigroup Global Markets $1.25M for failing to conduct timely or adequate background checks on approximately 10,400 non-registered associated persons spanning a seven-year period. FINRA found that from January 2010 through May 2017, CGMI failed to conduct timely or adequate background checks on approximately 10,400 of its non-registered associated persons. Also, the firm did not fingerprint at least 520 of the 10,400 non-registered associated persons until after they began their association with CGMI, thus preventing the firm from determining whether any individuals were subject to statutory disqualification from associating with a FINRA member firm. In addition, the firm was unable to determine whether it timely fingerprinted at least an additional 520 non-registered persons. In settling this matter, CGMI neither admitted nor denied the charges, but consented to the entry of FINRA's findings.

13:28 EDT Lyft lower after Bloomberg says COO Jon McNeill leaving company - Lyft (LYFT) shares moved lower after Dana Hull and Eric Newcomer of Bloomberg reported that Jon McNeill, who was hired last year to run Lyft's operations, is leaving the company, according to people familiar with the matter. Before joining Lyft, McNeill was a deputy to Elon Musk at Tesla (TSLA). Shares of Lyft are down 2.5% to $63.95 in afternoon trading.

13:22 EDT Jumia Technologies, Vivo Energy partner on 'series of initiatives' - Vivo Energy, the pan-African retailer and distributor of Shell and Engen-branded fuels and lubricants, and Jumia announced earlier today that they agreed to partner to develop and pilot a "series of initiatives, designed to offer additional services to customers in selected countries where both companies operate." The partnership will see Vivo Energy's retail service stations used as pick up and drop off points for customers, allowing them to collect or return online orders made on Jumia's digital platform. Additionally, Jumia's customers will be able to place and pay for Jumia orders at select service stations. Other initiatives are also being explored that combine Vivo Energy's network of physical service stations and Jumia's digital platform, the companies said. Reference Link

12:35 EDT Alkermes jumps 3% to $21.26 after patent settlement with Amneal

12:17 EDT Mid-Southern Bancorp announces stock repurchase program up to 178,260 shares - Mid-Southern Bancorp announced that its Board of Directors has adopted a stock repurchase program. Under the repurchase program, the Company may repurchase up to 178,260 shares of its common stock, or approximately 5% of the current outstanding shares.

12:00 EDT Teradata names Kathy Cullen-Cote chief HR officer - Teradata announced that it has appointed Kathy Cullen-Cote as Chief Human Resources Officer, effective immediately. Cullen-Cote will lead Teradata Human Resources, including workforce planning, talent management, learning and development, and employee experience. Laura Nyquist, who previously held dual roles of General Counsel and CHRO, will continue in her role as General Counsel. "With more than 30 years of experience in all facets of human resources, Kathy is a skilled leader with a talent for building a robust culture of employee engagement, enhancing the employee experience, and creating uniquely captivating training programs," said Oliver Ratzesberger, President and CEO at Teradata. "I am thankful for her commitment to diversity and inclusion, and look forward to Kathy's success in advancing the skills, motivation and connections throughout our organization. As Teradata continues its business transformation, we will also benefit from Kathy's experience in thoughtfully guiding the cultural evolution necessary to support transformative growth."

12:00 EDT Insperity falls -20.1% - Insperity is down -20.1%, or -$29.14 to $115.49.

12:00 EDT Vector Group rises 8.4% - Vector Group is up 8.4%, or 94c to $12.09.

12:00 EDT Medley Management rises 30.7% - Medley Management is up 30.7%, or 73c to $3.11.

11:38 EDT CHS Inc. announces retirement of CFO Tim Skidmore - CHS Inc. announced that Tim Skidmore, EVP and CFO, is retiring effective December 31, 2019. Skidmore will continue as the company's chief financial officer through the filing of the company's Form 10-K for its fiscal year 2019. "We would like to thank Tim for his dedicated service to CHS, his focus on building a strong finance organization to support the changing needs of the company and his commitment to adding value to our owners," said Jay Debertin, CHS president and CEO. A search for the company's next chief financial officer will begin immediately.

11:25 EDT DownDetector says Slack 'having issues' since 10:50 AM EDT - Reference Link

11:15 EDT Slack says receiving reports about issues with messages sending, loading - Slack said via Twitter: "We're receiving reports about issues with messages sending and loading. Our team is on the case and we'll report back once we have an update to share." Reference Link

11:03 EDT DownDetector says Slack 'having issues' since 10:50 AM EDT - Reference Link

10:53 EDT Sanofi discloses subpoena from New York AG on insulin pricing - In a regulatory filing, Sanofi disclosed that in July 2019, Sanofi US received a subpoena from the New York Attorney General's Office in connection with an inquiry related to insulin pricing. "The subpoena requests the production of various documents relating to Sanofi's insulin products including documents regarding pricing, discount programs, sales and expenses, contracting, marketing materials and legal proceedings. Sanofi US is cooperating with this inquiry," the company stated.

10:33 EDT Axalta Coating announces management promotions - Axalta Coating announced that Barry Snyder has been named Senior Vice President and Chief Operations and Supply Chain Officer and Robert Roop has been promoted to Vice President and Chief Technology Officer, effective immediately. Dr. Snyder will continue to serve on Axalta's leadership team, while Dr. Roop will be added to the leadership team, both reporting directly to Axalta CEO Robert Bryant. Dr. Snyder was previously Senior Vice President and Chief Technology Officer of Axalta. Dr. Roop has been with Axalta since 2013 in expanding roles of responsibility in the technology organization.

10:21 EDT On Deck Capital discloses 'immaterial error' in historical financial statements - On Deck Capital disclosed earlier that during Q2 of 2019, it identified an "immaterial error" in its historical financial statements relating to the accrual of commissions on a "small portion" of renewal loans. The company said, "As a result, we under-accrued the commissions payable on those renewal loans. The aggregate amount of the under-accrual was $2.4 million, approximately 90% of which relates to 2015 and subsequent periods, and represents less than 1%, of our total stockholders' equity at March 31, 2019. The amount of the error in each of the impacted annual and interim periods was less than 1% of total commissions paid for such period."

10:13 EDT AT&T announces DOJ task order valued at $984M over 15 years - The U.S. Department of Justice selected AT&T to help improve its mission performance with modernized technology, the company announced. The work - awarded via Task Order through the General Services Administration's Enterprise Infrastructure Solutions technology procurement program - is valued at approximately $984M over 15 years if all options are exercised, AT&T stated. "Through this award, the DOJ will transition to a next-generation communications platform supporting more than 120,000 employees across more than 2,100 locations," AT&T said.

10:00 EDT On Deck Capital falls -10.1% - On Deck Capital is down -10.1%, or -40c to $3.56.

10:00 EDT Insperity falls -14.9% - Insperity is down -14.9%, or -$21.50 to $123.12.

10:00 EDT Leo Holdings rises 10.6% - Leo Holdings is up 10.6%, or 98c to $10.20.

09:55 EDT Carvana slips in early trading after CVAN pledges to sell up to 4.3M shares - In a regulatory filing late Friday night, CVAN Holdings disclosed that on June 14 it entered into a prepaid variable forward sale contract with an unaffiliated third party, the effectiveness of which was conditioned upon the satisfaction of certain conditions precedent. The conditions precedent were satisfied, and the parties' obligations became fixed, on July 24, the filing stated. The contract obligates CVAN to deliver to the counterparty up to 4.3M shares of Carvana Class A common stock, or at CVAN's election, an equivalent amount of cash, on the maturity date, which is the nineteenth scheduled trading day following July 11, 2022. In exchange for assuming this obligation, CVAN received a cash payment of about $230.73M. CVAN has pledged 5.375M Class A units of Carvana Group and 4.3M shares of Class B common stock of the company to secure its obligations under the contract. CVAN retained voting and certain dividend rights in the pledged shares during the term of the contract but is required to make cash payments upon the occurrence of certain dividends declared prior to the maturity date, the filing stated. CVAN is owned by entities controlled by Mark Walter, the filing noted. In early Monday morning trading, Carvana shares are down $2.16, or 3.25%, to $64.29.

09:47 EDT Insperity falls -12.5% - Insperity is down -12.5%, or -$18.02 to $126.61.

09:47 EDT GrubHub rises 5.3% - GrubHub is up 5.3%, or $3.98 to $78.62.

09:47 EDT Leo Holdings rises 10.4% - Leo Holdings is up 10.4%, or 96c to $10.18.

09:27 EDT Generex says 1:1 dividend will be paid day after up-listing - Generex Biotechnology Corporation provided guidance for investors on the company's plans for the GNBT up-list to Nasdaq and the payment of the 1:1 share dividend to shareholders. Joseph Moscato, Generex President & CEO stated, "Many thanks to our shareholders and interested parties for participating in our conference call last Thursday, July 25. Since then, I have received a number of calls pertaining to the 1:1 shareholder dividend, so I want to provide some clarity with this release. First, in regard to the timing of the dividend payment, please note that the dividend will be paid the day after Generex is up-listed to the Nasdaq stock exchange. I cannot provide a set date at this time, as our up-list application still needs to go through the review process at Nasdaq, which is expected to take 30 to 60 days Also, there seems to be confusion in the market based on a question that was asked on the conference call pertaining to dilution and free-trading stock. Please note the dividend will only be paid to shareholders in the float. Insiders will not be taking the dividend, as the management team has waived their rights to the dividend. As recently reported, Generex retired an old debt of $3.1 million that has been carried on the books for 9 years, with the note holder opting to receive the full payment in Generex stock at $2.81 per share; these are restricted shares that will not be unrestricted for at least 6 months and are not eligible for the dividend. Similarly, if any other note holders convert their stock, those shares will also be restricted with the same restrictions. There are no features in any of Generex's current notes that allow for automatic conversion to free-trading stock, as any such transaction requires a legal process to remove the "restricted" legend. Generex does not have an S1 nor an S3 filed with SEC at this time, which means that no free-trading stock has been granted to date. Plus, as previously reported, I am retiring the roughly 21 million "Pool Shares" such that the effect of the dividend on dilution is significantly minimized. Lastly, it is important to note that if anyone sells their shares between now and the ex-date, which is expected to be two days after the pay date, the dividend shares will be transferred to the purchaser of your shares."

09:11 EDT Castor Maritime to acquire Panamax dry bulk carrier for $6.7M - Castor Maritime announced that on July 25, 2019, it has entered into, through a separate wholly-owned subsidiary, an agreement to purchase a 2001 Korean built Panamax dry bulk carrier from an unaffiliated third party for a purchase price of $6.7M. The acquisition is expected to be consummated late third quarter / early fourth quarter of 2019 and is subject to the satisfaction of certain customary closing conditions.

09:07 EDT Mylan says sees $3B in new product launches by 2023

09:06 EDT RealPage acquires SimpleBills, terms not disclosed - RealPage announced that it has acquired the assets of Simple Bills Corporation, an innovative utility management service dedicated to the student housing market. SimpleBills currently provides utility services to over 125,000 students in the U.S.

09:06 EDT Inspired Entertainment signs contract with Societe des casinos du Quebec - Inspired Entertainment announced that it has signed a three-year contract with Societe des casinos du Quebec to provide its award-winning scheduled and on-demand Virtual Sports as well as its best-in-class Interactive casino content to Loto-Quebec's online gaming website. Inspired content will be enabled for players in Quebec in the Q3. This agreement will allow Loto-Quebec to utilize content from Inspired's popular portfolio of Interactive slots, table games and Virtual Sports on-demand content including Maximus Soldier of Rome, Book of the Irish and 1st Down Slots, which is the first slot title to include football virtual clips.

09:04 EDT Arthur J. Gallagher acquires Gillis, Ellis & Baker for undisclosed amount - Arthur J. Gallagher & Co. announced the acquisition of New Orleans, La.-based Gillis, Ellis & Baker. Terms of the transaction were not disclosed.

09:03 EDT CEC Entertainment, Leo Holdings announce termination of merger pact - Queso Holdings, the parent company of CEC Entertainment, together with Queso's controlling stockholder, an entity owned by funds managed by affiliates of Apollo Global Management (APO) and Leo Holdings (LHC) jointly announced today the termination of their previously announced business combination agreement. The termination is effective immediately. In connection with the termination of the business combination agreement, the extraordinary general meeting of Leo's shareholders scheduled to be held at 9:00 a.m. Eastern Time on July 30, has been cancelled.

09:03 EDT 3M, Saint-Gobain Abrasives settle paint spray technology patent dispute - 3M, Saint-Gobain Abrasives and their respective affiliates have settled a long-standing patent dispute in Europe that related to paint spraying technology and included infringement actions brought by 3M under several European patents against Saint-Gobain Abrasives in Germany and in France and corresponding nullity actions by Saint-Gobain Abrasives in Germany, nullity counter-claims in France and oppositions before the European Patent Office. The patents enforced by 3M relate to 3M's paint preparation system technology. Saint-Gobain Abrasives supplies a variety of products under its Norton paint systems, or NPS, brand. The settlement concluded between 3M and Saint-Gobain Abrasives includes the resolution of all disputes and a release of Saint-Gobain's NPS products under 3M's paint spray technology related patents.

09:01 EDT CEC Entertainment, Leo Holdings announce termination of merger pact

08:49 EDT Leidos raises quarterly dividend 6% to 34c from 32c per share - Payable on Sept. 30 to shareholders of record as of the close of business on Sept. 16.

08:48 EDT Mylan says will begin search for CFO for new company - Mylan (MYL) says CFO for new company will be agreed upon jointly by Mylan and Pfizer (PFE).

08:46 EDT GTEC subsidiary receives processing, medical sales licenses from Health Canada - GTEC Holdings announced that its wholly-owned subsidiary, Alberta Craft Cannabis has received both a Standard Processing and a Sale for Medical Purposes licences from Health Canada. These licenses are in addition to the Standard Cultivation licence ACC already possesses. On July 26, 2019 ACC received notification from Health Canada that it had been granted licences for the following activities related to sale of cannabis: a licence for sale for medical purposes; a licence for standard processing authorizing the sales of cannabis plants, cannabis plants seeds, fresh cannabis and dried cannabis products ACC now has the ability to sell into provincial recreational supply chains and make direct online sales to medical cannabis clients.

08:44 EDT Taoping officially launches Taoping App version for smart display screen owners - Taoping announced the official launch of Taoping App version for owners of Taoping smart display screens. Currently TAOP has partners in over 150 cities, and these city partners have deployed over 100,000 smart display screens which are connected through IoT technologies and form a new national media network called Taoping Network. The new App for owners of Taoping screens is developed based on demands of our city partners and will allow more people such as owners and managers for buildings, physical stores, restaurants, cinemas, hotels, and shopping malls, to become owners of Taoping screens. With this App, new owners of Taoping screens will, with the assistance from our city partners, be able to place their smart display screens at areas with high people traffic, to connect and join with Taoping Network and share their scattered advertising resources for media services, and to share revenues with TAOP and our city partners.

08:42 EDT Mylan says combined Mylan/Upjohn to be renamed, rebranded in 2020 - Mylan (MYL) Chairman Robert Coury says the Mylan name may remain in some way, but the combined company with Pfizer's (PFE) Upjohn will be renamed and rebranded in 2020 when the transaction closes.

08:41 EDT Pfizer CEO Bourla says timing of Mylan deal 'attractive'

08:39 EDT Emerson trading resumes

08:35 EDT Turning Point Therapeutics appoints Yi Larson as CFO - Turning Point Therapeutics (TPTX) named Yi Larson as executive vice president and CFO, effective Aug. 26. Ms. Larson joins the company from Goldman Sachs & Co. (GS) where she worked for more than 12 years and most recently served as managing director of Healthcare Investment Banking.

08:33 EDT Medley Capital commences 'go shop' process of amended merger agreement - he Special Committee of the Board of Directors of Medley Capital Corporation is pleased to announce the commencement of the 60 day "go shop" period provided for in Section 7.10 of the amended merger agreement, dated as of July 29, 2019, between MCC and Sierra Income Corporation. The 60 day period expires on September 29, 2019. The Special Committee has retained Houlihan Lokey to assist it in soliciting, evaluating and potentially entering into negotiations with parties that offer competing proposals as defined in the Amended Merger Agreement. There can be no assurance that this process will result in a superior proposal as defined in the Amended Merger Agreement.

08:30 EDT Exela Technologies appoints Martin Akins to board of directors - Exela Technologies (XELA), announced Martin "Marty" Akins, formerly SVP, General Counsel of Express Scripts Holding Company (ESRX), has been appointed to Exela's board of directors.

08:24 EDT First Data trading halted, news dissemination

08:23 EDT Delcath Systems appoints John Sylvester to board of directors - Delcath Systems (DTCH) announces that John Sylvester, a pharmaceutical and medical device executive with a greater than 30-year career focused on growing business, creating markets and implementing commercialization strategies, has joined the Delcath Board of Directors effective July 24, 2019. Sylvester currently serves as Chief Commercial Officer at BTG PLC (BTGGF).

08:14 EDT VBI Vaccines doses first patient in Part B of Phase 1/2a study of VBI-1901 - VBI Vaccines announced that the first patient has been dosed in Part B of the ongoing Phase 1/2a clinical study of VBI-1901, VBI's oncology immunotherapeutic, in recurrent glioblastoma patients. The ongoing two-part study is a multi-center, open-label study conducted at The Neurological Institute of New York Columbia University Medical Center, Dana-Farber Cancer Institute, and Massachusetts General Hospital. VBI's two-part Phase 1/2a study is a multi-center, open-label, dose-escalation study of VBI-1901 in up to 28 patients with recurrent GBM: Part A: Dose-escalation phase that defined the safety, tolerability, and optimal dose level of VBI-1901 in recurrent GBM patients. This phase enrolled 18 recurrent GBM patients across three dose cohorts of VBI-1901: 0.4 microg, 2.0 microg, and 10.0microg. Part B:Subsequent extension of the optimal dose level, 10.0 microg, as defined in the Part A dose escalation phase. This phase is expected to enroll an expanded cohort of approximately 10 additional first-recurrent GBM patients. VBI-1901 is administered intradermally and is adjuvanted with granulocyte-macrophage colony-stimulating factor (GM-CSF), a potent adjuvant that mobilizes dendritic cell function. Patients in both phases of the study will receive the vaccine immunotherapeutic every four weeks until tumor progression.

08:10 EDT Rhythm announces EMA positive opinion on orphan designation for setmelanotide - Rhythm Pharmaceuticals announced that the European Medicines Agency's Committee for Orphan Medicinal Products has adopted a positive opinion recommending setmelanotide for designation as an orphan medicinal product for the treatment of patients with Bardet-Biedl syndrome. People living with BBS may experience an insatiable hunger, also known as hyperphagia, and severe obesity beginning early in life. Rhythm is currently evaluating setmelanotide in an ongoing pivotal Phase 3 trial in patients with BBS and Alstrom syndrome.

08:08 EDT SG Blocks customer closes financing, land purchase for Monticello project - SG Blocks announced that CPF MF 2019-1, or Monticello, has completed a $5M equity financing to develop the 302-unit multifamily project in Sullivan County, New York. Concurrently, Monticello acquired 16 acres of undeveloped land in Sullivan County, New York on which the project will be built. The $5M equity capital is for acquisition of the land and the first phase of construction for the project. SG Blocks owns a 50% membership interest in CPF GP 2019-1, which is the managing member of Monticello. Subject to finalization of documents, SG Blocks is expected to contribute up to approximately $1.3M of its cash collected from the project to CPF GP, which will in turn contribute the cash to Monticello, and the remaining equity capital is being contributed by the other investors who have now executed a contractual equity commitment for the first phase of the project and funded the land acquisition. SG Blocks expects that Monticello will complete the local authority approvals and the architectural and engineering plans and to start procuring the inventory for production in Q4. Projected construction costs in the first phase of the project are approximately $22M. SG Blocks expects to recognize revenue of approximately $13M in the first phase of the project. SG Blocks can provide no assurances that the debt financing for the project or equity financing for future phases of the project will be obtained, that the project or SG Blocks will achieve the financial and valuation projections described above, or that SG Blocks equity interest in the CFP GP will have any value.

08:05 EDT Canadian National moved over 27 MMT of grain during 2018-2019 crop year - CN announced that it moved more Canadian grain during the 2018-2019 crop year than ever before and set multiple new records despite the restrictions on Canadian canola exports to China. Many of these records were achieved during the peak demand period and despite extreme weather conditions. During the 2018-2019 crop year, CN moved over 27 million metric tonne of grain, as compared to the previous record of 26 MMT set in 2016-2017, and compared to 25 MMT in 2017-2018. November 2018 broke CN's best individual month record for grain movement at 2.71 MMT, and that record was surpassed again in April 2019 with 2.72 MMT. CN was also able to deliver seven individual weeks of over 7000 hopper cars of grain movement per week. This past crop year, CN also moved approximately one MMT of grain in containers. "Our $7.4B dollar investments in our network are delivering results for Canadian grain farmers and the Canadian economy," said JJ Ruest, president and chief executive officer of CN. "I'm proud of what CN has achieved. Despite a late start to the harvest, record cold temperatures in February, and rainy weather at export terminals restricting ship loading, our dedicated ONE TEAM of railroaders moved more grain than ever before. This was in large part due to strategic investments in people, equipment and capacity. With more locomotives, more crews, and a renewed fleet of rail cars, we are determined to enable the growth of natural resources export supply chains via West Coast ports."

08:03 EDT Soliton receives IRB approval for upcoming pivotal cellulite trial - Soliton announced that the company has received approval for the trial protocol from the independent Institutional Review Board for its upcoming pivotal Cellulite Trial.

08:02 EDT Twist Bioscience announces launch of long oligonucleotides product line - Twist Bioscience announced the launch of its long oligonucleotides, or oligos, product line. At up to 300 bases, or nucleotides, in length this is the longest commercial oligo offering by continuous chemical synthesis in the industry. Twist believes that these synthetic oligos will increase the success and productivity of biological research.

07:58 EDT Simplicity Esports to acquire PLAYlive Nation, terms not disclosed - Simplicity Esports and Gaming Company announced that it has entered into a definitive agreement to acquire PLAYlive Nation in an all stock transaction. Founded in 2009 PLAYlive has a network of 44 franchised Gaming Centers across 11 states, serving over 150,000 unique gamers annually. The PLAYlive Centers offer customers a specialized entertainment gaming experience within a social setting. Customers are provided the opportunity to play and compete across an array of gaming titles on both consoles and high performance gaming PCs. Additionally, PLAYlive Gaming Centers serve as community gathering spaces for enthusiasts to play both board and card games such as Magic: The Gathering, Yu-Gi-Oh, and Pokemon. The closing of the acquisition is anticipated to occur within the next 10 days, and remains subject to customary closing conditions.

07:55 EDT RLH sees execution of franchise agreements of 175-210 contracts in 2019 - RLH Corporation announced the Company executed 40 hotel franchise agreements during the second quarter, an increase of approximately 38% versus the number of contracts signed during the second quarter of 2018. The 40 contracts included 5 mid and upscale hotels and 35 select service hotels. Year-to-date, the Company has signed 96 contracts, which include 13 USB hotels and 83 SSB hotels. On a year to date basis, contract signings are 60% ahead of the first half of 2018. Given the momentum in contract signings year to date, RLHC is raising its expectations on execution of franchise agreements in 2019 to 175 to 210 contracts from the prior guidance of 160 to 200 contracts. The Company uses the net present value of royalty revenue, which includes the contract acquisition cost, to evaluate the long term contribution of a contract to its core franchising business. Year to date, contracts for new and existing locations for its USB brands had an average net present value of over $255,000 as compared to an average net present value of approximately $74,000 for the terminated USB hotels. In comparison, contracts for new and existing locations for its SSB brands had an average net present value of over $36,000 as compared to an average net present value of approximately $24,000 for terminated SSB hotels. The improvement in net present value for new contracts is demonstrative of the longer term and higher quality contracts being entered into. Of the 96 contracts signed during the first half of the year, 30 contracts were for new locations coming onto the RLH platform. These hotels will have phased openings over the next 24 months. It is anticipated the new hotels will contribute approximately $228,000 in royalty revenue in 2019. The 30 hotels have an anticipated royalty revenue baseline of approximately $875,000 for their first twelve months of fees, after application of incentives and fee deferments. This royalty fee stream does not include incremental revenues generated from transaction, marketing or other franchise fees.

07:51 EDT Plus Therapeutics intends to effect 1-for-50 reverse stock split - The Company intends to effect a 1-for-50 reverse stock split to become effective on August 5, 2019, and the Company's common stock is expected to commence trading on a post-split basis beginning on August 6, 2019. The Company received the requisite stockholder approval for the reverse stock split on July 11, 2019. The new CUSIP number for the Company's common stock after the reverse stock split will be 72941H400. The reverse stock split will automatically combine every 50 shares of the Company's common stock into one issued and outstanding share without any change in the par value of the shares. Following the reverse stock split, the number of outstanding shares of the Company's common stock is anticipated to be proportionally reduced from approximately 22.2M to approximately 0.4M. As previously announced, the Company is required to evidence compliance with Nasdaq's minimum bid or closing price requirement by August 26, 2019. Although the Company expects that the reverse stock split will enable the Company to comply with the Nasdaq listing and minimum bid price requirement, there can be no assurance that the Company will be able to regain such compliance. Delisting from the Nasdaq Capital Market could have a material adverse effect on the Company's business and on the trading of its common stock.

07:48 EDT Crinetics to receive final award of SBIR grant from NIH - Crinetics Pharmaceuticals announced that it would receive up to approximately $0.9M in continued funding under its Small Business Innovation Research grant from the National Institute of Diabetes and Digestive and Kidney diseases of the National Institutes of Health. The funds are being used to support the ongoing research and development of Crinetics' nonpeptide somatostatin agonists for congenital hyperinsulinemias. In total, the company has been awarded approximately $2.2M in funding from the NIDDK under award number R44DK115290.

07:44 EDT Jupiter Gold receives initial equity investment from Warberg Asset Management - Jupiter Gold Corporation reported that it has received an initial equity investment from U.S. institutional investor Warberg Asset Management. Jupiter Gold has never issued any debt, relying only on equity capital. Jupiter Gold is a gold royalty company and it also fully owns several exploratory-stage projects in gold, palladium, and platinum. Its first royalty project is the Pindaiba Project in Minas Gerais, for which it receives 50% of the gold revenues. Additionally, Jupiter Gold owns 100% of several other gold projects, one of which also has potential for palladium and platinum. In aggregate, the Company's owned mineral rights total over 100,000 acres. Brazil Minerals currently holds a 47% ownership stake in Jupiter Gold.

07:39 EDT Gilat Satellite receives approval for telecom project in Peru - Gilat Satellite Networks announced that it has reached a critical milestone in Peru with approval to enter the operational phase of the three-region telecom project awarded in 2015 for an aggregate value of $285M. This phase enables the start of delivery of broadband internet services to over half a million people in the three regions. Entering the operational phase will enable Gilat to unlock access to revenue of ~$12M per annum of operations fees, for a period of ten years, as well as to start selling services over the network.

07:36 EDT Sierra, Medley Capital and Medley Management amend merger agreements - Sierra Income, Medley Capital (MCC), and Medley Management (MDLY) announced that they have entered into definitive amended agreements under which MCC will merge with and into Sierra and Sierra will simultaneously acquire MDLY and its existing asset management business, which will operate as a wholly owned subsidiary of the company. Following the closing of the transactions, in which Sierra will be the surviving entity, the Company will be operated as an internally managed business development company. Based upon the recommendation of each of their respective special committees of independent directors, the Boards of Directors of Sierra, MCC and MDLY unanimously approved the transactions. The Combined company will have approximately $4.7B of assets under management, including $1.8B of internally managed assets; Upon closing, the combined company will have enhanced scale and is expected to be the third largest internally managed BDC and the 13th largest publicly traded BDC by assets; The transaction is expected to be accretive to net investment income per share for both Sierra and MCC; and The transaction is expected to increase share trading liquidity for stockholders of Sierra, MCC and MDLY. Upon closing, the combined company will be led by MDLY's senior leadership team and the investment management team will remain in place. The combined company Board will initially consist of four independent directors and one interested director. The four independent directors will consist of the three current independent directors of Sierra and one independent director from MCC to be chosen prior to closing by Sierra's special committee. MCC stockholders will receive 0.66x to 0.68x shares of Sierra Common Stock for each share of MCC Common Stock; the actual exchange ratio will be determined prior to closing and will be subject to adjustment for certain potential costs associated with the transactions. In addition, upon closing, the eligible class members will participate pro rata in a settlement fund consisting of $17 million of cash and $30 million of Sierra common stock. MDLY Class A stockholders, other than Medley LLC Unitholders, will receive 0.2668 shares of Sierra Common Stock for each Medley Class A share and $2.96 per share of cash consideration. Medley LLC Unitholders have agreed to convert their units into MDLY Class A Common Stock immediately prior to closing, and will receive 0.2072 shares of Sierra Common Stock for each MDLY Class A share and $2.66 per share of cash consideration. As part of the transaction, Medley LLC Unitholders have agreed to forgo all payments that would be due to them under the existing Tax Receivable Agreement with Medley for the benefit of the Combined Company. Additionally, Medley LLC Unitholders will roll over 100% of their after-tax equity value into the Combined Company, which will be subject to a 12-month lock-up period, further aligning management's interests with stockholders. At close, current Sierra stockholders will continue to own shares of Sierra Common Stock. As a condition to closing the transactions, Sierra's common stock will be listed to trade on the New York Stock Exchange and the Tel Aviv Stock Exchange.5 There are no expected changes to the current distribution policies of the respective entities prior to the closing of the transactions. It is anticipated that the Combined Company will continue with Sierra's current distribution policy after the close of the transactions. The mergers are subject to approval by Sierra, MCC and MDLY stockholders, regulatory approval, other customary closing conditions and third party consents. The Sierra-MCC merger requires court approval of the stipulation of settlement. The transactions are expected to close in the fourth quarter. The Sierra-MCC merger agreement provides for a 60-day "go-shop" period, during which MCC's special committee and advisors may actively solicit alternative proposals and enter into negotiations with other parties. During this period, MCC will have the right to terminate the merger agreement to enter into a superior proposal. There can be no assurance this 60-day "go-shop" period will result in a superior proposal.

07:31 EDT Hemisphere Media announces extension for Canal 1 license in Colombia - Hemisphere Media Group announced that the concession license for Canal 1 in Colombia has been extended by ten years. Canal 1 will not be required to pay any additional concession fees in connection with this extension. The concession is now due to expire on April 30, 2037 and is renewable for an additional 20-year period. Hemisphere, in partnership with leading producers of news and entertainment content in Colombia, acquired the concession license for Canal 1 in 2016, and it is one of only three national broadcast television licenses in Colombia.

07:31 EDT Arvinas appoints Ronald Peck as CMO - Arvinas (ARVN) announced the appointment of Ronald Peck, M.D. to the newly created position of chief medical officer. Dr. Peck brings to Arvinas more than twenty years of clinical and drug development experience, most recently serving as SVP, Clinical Research at Tesaro (TSRO), where he oversaw all clinical development efforts for the company's entire pipeline, including Zejula and Tesaro's immuno-oncology programs.

07:30 EDT Genomic Health trading resumes

07:27 EDT uniQure expects to initiate clinical testing for AMT-130 this year - The company said, "The Company continues to make significant progress in the preparation for its dose-escalating, randomized and controlled Phase I/II clinical study to assess the safety, tolerability and efficacy of a one-time treatment of AMT-130 in patients with Huntington's disease. cGMP clinical material has been manufactured at the Company's state-of-the-art Lexington facility and released for shipment. Additionally, the Company has received approvals from multiple Institutional Review Boards and patient identification activities have begun. The Company expects to initiate clinical testing for AMT-130 this year In May 2019, the US Patent and Trademark office and European Patent Office granted claims covering the RNA constructs specifically designed to target exon1 and the embedding of these Huntington's disease RNA sequences into the miR451 scaffold, which is exclusively licensed to uniQure from Cold Spring Harbor Laboratory. The claims also cover expression cassettes comprising the RNA constructs and the use of gene therapy vectors including AAV vectors encompassing the described expression cassettes."

07:25 EDT uniQure sees cash, cash equivalents sufficient to fund operations into 2021 - As of June 30, 2019, the Company held cash and cash equivalents of $184.1M, compared to $208.8M as of March 31, 2019. The Company currently expects cash and cash equivalents will be sufficient to fund operations into 2021.

07:22 EDT Sintx Technologies in 'strategic discussions' to enhance shareholder value - The company said, "SINTX has steadily decreased its cash burn rate and has cash on hand with no debt. Commercial operations are not generating break-even or profitable cash flow as yet. Additional financing and/or a strategic investment will be necessary.The Company is in strategic discussions targeted at enhancing shareholder value, and expanding its technology platform for the opportunities ahead. The Company expects to retain specific investment banking expertise to identify strategic options that maximize value for its shareholders"

07:20 EDT Sintx Technologies appoints Don Bray as VP, business development - The company said, "The Company hired Don Bray, a seasoned industry executive, as Vice President of Business Development, to identify new opportunities outside the medical space. The Company produces one of the toughest silicon nitride formulations known, with new variations under development to address high temperature and high pressure applications. From commodity items such as industrial fasteners, bushings, and valves to addressing more complex demands of hypersonic missile radomes, aerospace, air-conditioning systems, beverage dispensers, touch-screen glass, and agribusiness fungicides, the Company has the expertise and skill to address a diversity of opportunities."

07:16 EDT Cidara Therapeutics says rezafungin met all objectives in Phase 2 STRIVE B trial - Cidara Therapeutics reported positive topline results from Part B of the global Phase 2 STRIVE trial evaluating the company's lead antifungal candidate rezafungin. In the STRIVE B trial, rezafungin met all of its objectives for efficacy, safety and tolerability in the treatment of patients with candidemia and/or invasive candidiasis. Rezafungin is a novel echinocandin antifungal being developed as a once-weekly therapy for the first-line treatment and prevention of serious invasive fungal infections. Cidara reported positive topline results from Part A of the STRIVE trial in March 2018. STRIVE B continues the success of the STRIVE trial to date and adds to the growing body of evidence supporting the efficacy and safety of once-weekly rezafungin. While the objective of STRIVE B was to show comparability in efficacy and safety of rezafungin dosed once-weekly versus caspofungin dosed once-daily, the topline results show that patients treated with rezafungin had numerically improved outcomes compared to caspofungin across all efficacy measures at the 400 mg/200 mg dosing regimen, which is the dosing regimen chosen for Phase 3. In addition, an analysis combining data across STRIVE Parts A and B also demonstrates that rezafungin achieved meaningful improvement in outcomes compared to caspofungin across all efficacy endpoints at the same 400 mg/200 mg dose. The comparisons of efficacy among the treatment arms in the STRIVE trial are directional, as the STRIVE trial was not powered to show statistically significant differences or non-inferiority between treatment arms.The charts represent the topline results from the STRIVE Part B trial and combined results from STRIVE A and B, for key measures of efficacy. More detailed results will be presented at an upcoming medical meeting. While the difference in outcomes for 400 mg/200 mg are encouraging, and the 400 mg/400 mg findings are consistent with comparator results, the size of the individual trial cohorts precludes any other conclusions pending full assessment of trial data. There were no unanticipated or concerning adverse event trends among STRIVE B trial participants. The top-line results indicate that rezafungin appeared to be generally safe and well-tolerated at both dosing regimens. As expected, and observed in STRIVE A, treatment emergent adverse event in the study population were observed in most patients, though study drug-related adverse events were substantially lower, with a frequency of 6.5 percent, zero percent and 14.7 percent in the 400 mg/400 mg, 400 mg/200 mg, and caspofungin groups respectively.

07:12 EDT Axsome Therapeutics amends Silicon Valley Bank loan agreement - Axsome Therapeutics announced that it has amended its existing $24 million term loan facility agreement led by Silicon Valley Bank. The amendment extends the interest-only payment period as well as the time for drawing down additional funding under the loan facility. These modifications are expected to further extend the Company's cash runway, and provide additional financial flexibility. Axsome entered into the $24M loan agreement in March 2019. The amendment extends the interest-only payment period by a minimum of six months to 18 months, which may be further extended to 24 months should the Company elect to draw down an additional $4M that remains unfunded under the loan agreement. The period to draw this remaining amount has also been extended to December 31, 2019, subject to the achievement of positive results, prior to this date, from the Company's ongoing CONCERT Phase 2 trial of AXS-12 in narcolepsy sufficient to proceed to a Phase 3 trial. In consideration for the amendment, the final payment fee, payable upon the Company's repayment of the loan, increased from 6.0% to 6.3% of the principal amount of the loan advances. All other terms and conditions from the original term loan agreement remain substantially unchanged.

07:11 EDT United Airlines announces new partnership with CLEAR - United Airlines announced a new partnership with CLEAR, the secure identity company. The partnership includes free or discounted CLEAR membership pricing for U.S.-based MileagePlus members. United is also making a strategic equity investment in CLEAR that will support the company's growth, including bringing CLEAR to the airline's hubs at Newark Liberty International Airport and Houston George Bush Intercontinental Airport starting later this summer. United is also supporting CLEAR's efforts with the City of Chicago to open CLEAR lanes at Chicago O'Hare in the coming months. CLEAR already operates at United's hubs in Denver, Los Angeles, San Francisco and Washington Dulles. Beginning July 29, CLEAR and United are offering free CLEAR membership for Global Services and Premier 1K members. In addition, Premier Platinum, Gold and Silver members as well as most United credit card members receive a discounted membership rate of $109 while all other MileagePlus members are eligible for a discounted offer of $119 per year. An annual CLEAR membership retails for $179.

07:09 EDT China Lending announces partnership with Zhong Lian Jin An Insurance Brokers - China Lending announced that it has entered into a five-year strategic partnership with Zhong Lian Jin An Insurance Brokers, leading insurance brokerage company in China with over 90 branches across the nation. The partnership will enable both companies to further expand each other's customer bases and to develop superior, customized consumer financing and insurance products by leveraging their industry expertise, service capabilities, and industry networks.

07:08 EDT Soligenix receives European patents for oral BDP - Soligenix announced that the European Patent Office has issued two patents, both titled "Topically Active Steroids for use in Radiation and Chemotherapeutics Injury" with the latest issuing October 24, 2018, following the expiration of the objection period as of July 24. The new patents (#2,373,160 and #2,902,031) claim use of oral beclomethasone 17,21-dipropionate for treatment of damage to the gastrointestinal tract as a result of acute radiation injury, including total body irradiation in an accidental or biodefense context.

07:03 EDT Exact Sciences, Genomic Health to combine in $2.8B deal - Exact Sciences (EXAS) and Genomic Health (GHDX) announced that the companies have entered into a definitive agreement under which Exact Sciences will combine with Genomic Health for $72.00 per share in a cash and stock transaction valued at $2.8B. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to be completed by the end of 2019. On a pro forma basis, the combined company expects to generate revenue of approximately $1.6B and gross profit of approximately $1.2B in 2020. Additionally, the combination is expected to generate annualized cost synergies of approximately $25M within the third full year following close, primarily through reducing public company costs and purchasing optimization. Under the terms of the agreement, for each share of Genomic Health common stock they own, Genomic Health stockholders will receive $27.50 in cash and $44.50 in shares of Exact Sciences stock, subject to a 10% collar centered on Exact Sciences' volume-weighted average price for the 45 trading days ended July 26. Based on the parties' closing stock prices as of July 26, the last trading day prior to today's announcement, the total per-share consideration represents a premium of approximately 19% to Genomic Health's volume-weighted average price for the last 30 trading days. Upon closing, Exact Sciences shareholders are expected to own approximately 91% of the combined company, and Genomic Health stockholders are expected to own approximately 9%. The transaction is subject to customary closing conditions and regulatory approvals, including the approval of stockholders of Genomic Health. Felix and Julian Baker and certain funds advised by entities with whom they are affiliated, which collectively own approximately 25.3% of the outstanding shares of Genomic Health common stock, have entered into agreements to vote in favor of the transaction.

07:00 EDT Genomic Health trading halted, news dissemination

06:59 EDT Interpace Diagnostics announces contract with Blue Shield of California - Interpace Diagnostics Group announced that it has entered in to a contract with Blue Shield of California, a not-for-profit independent member of the Blue Cross Blue Shield Association making ThyGeNEXT and ThyraMIR tests in-network services for their 4 million lives. Blue Shield originally granted coverage for ThyGeNEXT and ThyraMIR in March of 2018 and now members will be able to access Interpace's molecular thyroid tests on an in-network basis, which will limit their out of pocket expenses and optimize their benefits in accordance with their in-network benefit levels.

06:55 EDT Pfizer CEO says 'reported solid' Q2 results - Dr. Albert Bourla, Pfizer's (PFE) CEO, stated, "We reported solid second-quarter 2019 financial results, with total company revenues up 2% operationally. Performance was primarily driven by 6% volume-driven operational growth in our Biopharma business, including continued growth of key brands such as Ibrance, Eliquis and Xeljanz as well as in emerging markets. This growth was partially offset primarily by the impact of generic and biosimilar competition for products that have lost marketing exclusivity, as well as the expected decline of Upjohn revenues in China." "Today's announcement that proposes a combination between Upjohn and Mylan N.V. (MYL) in a Reverse Morris Trust transaction marks an important milestone in Pfizer's evolution to be a more focused, global leader in science-based, innovative medicines that delivers breakthroughs that change patients' lives and creates sustainable value for shareholders. The proposed transaction would unlock value by giving Pfizer shareholders majority ownership of a new company that brings together highly complementary businesses under a management team focused on leveraging scale, capabilities and geographic reach while maximizing revenue growth opportunities and free cash flow potential. Following the close of the proposed transaction, I expect Pfizer will be positioned to deliver revenue and Adjusted diluted EPS growth through the mid-2020s that is among the industry leaders while continuing to allocate significant capital directly to shareholders, primarily through dividends," Dr. Bourla concluded. Frank D'Amelio, CFO and Executive Vice President, Business Operations and Global Supply, stated, "I was pleased with our second-quarter 2019 financial results, which keep us on track to deliver solid financial performance this year. We updated our 2019 financial guidance primarily for the anticipated August 1, 2019 formation of the Consumer Healthcare JV with GSK and the anticipated near-term completion of the Array acquisition. Excluding the changes to guidance related to pending business development activities, our 2019 financial guidance is unchanged. Additionally, in the first half of 2019, we returned $12.9 billion directly to shareholders through dividends and share repurchases, demonstrating our commitment to returning capital to our shareholders."

06:51 EDT Mylan board issues statement on retirement of CEO Heather Bresch - Mylan's board shared the following statement regarding Heather Bresch's retirement, which will be effective upon the closing of the combination of Mylan (MYL) and Upjohn, a division of Pfizer (PFE). The transaction is anticipated to close in mid-2020, subject to customary closing conditions, including receipt of regulatory approvals, and approval by Mylan shareholders. Mylan's board chairman Robert Coury said: "On behalf of Mylan's Board of Directors, I extend my gratitude and respect for Heather Bresch's years of extraordinary and passionate leadership at Mylan, which helped to pave the way for today's historic announcement regarding the combination of Mylan and Upjohn. Heather began her career at Mylan in January of 1992 as a data entry clerk, and in January 2012, after 20 years and more than 15 different roles - including significant leadership positions as Chief Integration Officer, Chief Operating Officer and President - she was named the first female CEO of a Fortune 500 global pharmaceutical company. Upon becoming CEO, Heather established a blueprint for Mylan's future that helped to bring about unprecedented growth for the company and create a truly diversified global organization. During her almost three-decade tenure at Mylan, Heather has been instrumental in transforming the company from a 300 employee, $100 million revenue, single-country operation into a global organization that, upon close of the Mylan and Upjohn transaction, will have more than 45,000 employees, nearly $20 billion in revenue and a reach across more than 165 countries, including a new leading position in China. On behalf of Mylan's Board, I extend tremendous thanks and credit to Heather Bresch for her many years of service to Mylan and for her authentic leadership style that helped to ensure Mylan's mission of access could live on for years to come. In business and in public policy, Heather has challenged the status quo at every turn and is leaving this company, the communities in which we operate, and our industry in a better place." Mylan CEO and board director Heather Bresch said: "The opportunity to represent Mylan, and most especially our thousands of passionate and committed employees around the globe, has been one of the greatest joys and honors of my life. I am grateful to Mylan's chairman, Robert J. Coury, and to our entire Board for their strong support throughout my career and for their leadership of Mylan's differentiated strategy. As I shared with the Mylan family today, upon my appointment to CEO in 2012, Mylan embarked on an initiative we called Healthcare 2020. It combined our efforts to blueprint the organization by enhancing global processes, infrastructure and diversification, with a future-focused strategy that ensured Mylan would explore opportunities to further differentiate itself for success in 2020 and beyond. Nearly eight years after becoming CEO, I'm proud to say that today's announcement regarding the combination of Mylan and Upjohn represents the culmination of the goals I set for myself and our Company when I challenged our amazing workforce to set new standards in healthcare. So, as the company sets out on this exciting new journey, I too will be opening a new chapter that will continue to be focused on serving people, patients and public health. I look forward to continuing to work with the entire Mylan family over these next several months to bring this transaction to a successful close, and to the exciting future for all of us."

06:48 EDT Pfizer, Mylan announce agreement to combine Mylan with Upjohn - Mylan N.V. (MYL) and Pfizer Inc. (PFE) announced a definitive agreement to combine Mylan with Upjohn, Pfizer's off-patent branded and generic established medicines business, creating a new global pharmaceutical company. Under the terms of the agreement, which is structured as an all-stock, Reverse Morris Trust transaction, each Mylan share would be converted into one share of the new company. Pfizer shareholders would own 57% of the combined new company, and Mylan shareholders would own 43%. The Boards of Directors of both Mylan and Pfizer have unanimously approved the transaction. The new company will transform and accelerate each businesses' ability to serve patients' needs and expand their capabilities across more than 165 markets by bringing together two highly complementary businesses. Mylan brings a diverse portfolio across many geographies and key therapeutic areas, such as central nervous system and anesthesia, infectious disease and cardiovascular, as well as a robust pipeline, high-quality manufacturing and supply chain excellence. Upjohn brings trusted, iconic brands, such as Lipitor, Celebrex and Viagra, and proven commercialization capabilities, including leadership positions in China and other emerging markets. The transaction will allow the new company to meaningfully expand the geographic reach of Mylan's existing broad product portfolio and future pipeline - including significant investments that have been made across complex generics and biosimilars - into new growth markets where Upjohn has existing sales infrastructure and local market expertise. The new company is expected to have pro forma 2020 revenues1 of $19 to $20 billion. Pro forma 2020 adjusted EBITDA is anticipated to be in the range of $7.5 to $8.0 billion, including phased synergies of approximately $1 billion annually to be realized by 2023. Pro forma free cash flow for 2020 is expected to be more than $4 billion. The new company will be focused on returning capital to shareholders, while maintaining a solid investment grade credit rating. It expects to achieve a ratio of debt to adjusted EBITDA of 2.5x by the end of 2021. The new company, which will be renamed and rebranded at close, will be led by Mylan's current Chairman Robert J. Coury, who will serve as Executive Chairman of the new company; Michael Goettler, current Group President, Upjohn, who will serve as Chief Executive Officer (CEO); and Rajiv Malik, current Mylan President, who will serve as President. Ken Parks, currently CFO of Mylan, has agreed to depart the company at closing. Heather Bresch, Mylan's current CEO, will retire from Mylan upon the close of this transaction. The Board of Directors of the new company will include its Executive Chairman and its CEO, as well as eight members designated by Mylan, and three members designated by Pfizer, for a total of thirteen members. The new company will be domiciled in the U.S. and incorporated in Delaware and will operate Global Centers in Pittsburgh, Pennsylvania; Shanghai, China, and Hyderabad, India.

06:32 EDT Merck: EMA adopts positive opinion for KEYTRUDA/Inlyta combination - Merck announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion recommending approval of KEYTRUDA, Merck's anti-PD-1 therapy, in combination with Inlyta, a tyrosine kinase inhibitor, for the first-line treatment of patients with advanced renal cell carcinoma. This recommendation, which applies to all IMDC risk groups, is based on findings from the pivotal Phase 3 KEYNOTE-426 trial, which demonstrated significant improvements in overall survival, progression-free survival and objective response rate for KEYTRUDA in combination with axitinib compared to sunitinib.

06:23 EDT General Moly: AMER considering terminating agreement based on alleged breaches

06:07 EDT Armstrong World sees FY19 sales up at higher end of 7%-10% - The company commented, "Despite one less shipping day, we delivered another solid quarter with adjusted EBITDA up 14% driven by strong Mineral Fiber AUV and Architectural Specialties volume. We continue to expect economic conditions in 2019 to be similar to 2018. Our overall 2019 guidance is unchanged while sales growth is tracking to the higher end of our 7%-10% range."

06:04 EDT Axonics announces results from its ARTISAN-SNM study were published online - Axonics Modulation Technologies announced the results from its ARTISAN-SNM study were published online in the peer-reviewed Journal of Urology. This is the first journal publication to detail outcomes for patients in the United States treated with a rechargeable sacral neuromodulation system. The study, conducted under a FDA Investigational Device Exemption, or IDE, found that 90% of all implanted patients with the Axonics r-SNM System had successful therapy outcomes.

06:03 EDT Civeo sees FY19 adjusted EBITDA $95.0M-$101.0M

06:01 EDT CPI Aerostructures awarded $65.7M Air Force contract - CPI Aerostructures announced that it has been awarded a $65.7M indefinite-delivery/indefinite-quantity contract from the United States Air Force to provide structural modification kits, program management, logistics, and other sustainment services in support of Phase 3 of the T-38C Pacer Classic III Fuselage Structural Modification Kit Integration program and the Talon Repair Inspection and Maintenance program. The company also received its first delivery order under the contract valued at $3.4M for which work will commence immediately.

05:12 EDT nVent Electric to acquire Eldon Enclosures for $130M - nVent Electric announced it has signed an agreement to acquire Eldon, a privately held European-based enclosures business, for a cash purchase price of approximately $130M, subject to customary adjustment and including repayment of Eldon debt. The acquisition of Eldon and its highly complementary portfolio will position nVent well for global growth. nVent is a leader in enclosures, providing innovative solutions that protect, connect and manage heat in critical electronics, communication, control and power equipment through its nVent HOFFMAN and nVent SCHROFF brands. Eldon is an innovative, customer-focused business with a high-quality portfolio of enclosure solutions. Eldon is headquartered in Madrid, Spain, with global offices and primary manufacturing in Romania. For the period ending Dec. 31, 2018, sales of the business were approximately $90M. nVent expects the transaction to close in 2019, and to be accretive to EPS within the first 12 months following acquisition.