Stockwinners Market Radar for April 26, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:42 EDT Samsung sees Q2 growth due to 'robust' memory performance, Galaxy S8 launch - "Looking ahead to the second quarter, the company expects to achieve growth on the back of continued robust memory performance together with improved earnings from the mobile business following the global rollout of the Galaxy S8 and S8+. For the components businesses, semiconductor earnings growth is expected to continue. This will be driven by solid demand for high-density DRAM and SSDs in the server market, increased shipments of 10nm AP, and sustained strong demand for image sensors and DDI. As for the display business, the company will focus on fulfilling strong demand for flexible OLED panels... For the set businesses, operating profit is expected to improve in the mobile business following the global expansion of the Galaxy S8 and S8+," said Samsung.

19:13 EDT Deutsche Boerse says plans EUR 200M repurchase program - Deutsche Boerse announced earlier Wednesday, "On 26 April 2017, the Executive Board of Deutsche Boerse has resolved to implement a share buy-back programme with a volume of around EUR 200M in the second half-year of 2017." Reference Link

19:02 EDT Suncor to repurchase up to C$2B of company's shares through NCIB - Suncor announced plans to repurchase up to C$2B of the company's shares over the next twelve months through a normal course issuer bid, together with the early repayment of a $1.25B bond. The Toronto Stock Exchange has accepted notice of Suncor's intention to commence the NCIB through which Suncor may purchase for cancellation up to C$2B worth of its common shares beginning May 2, 2017 and ending May 1, 2018. Purchases will be made through the facilities of the TSX, New York Stock Exchange and/or alternative trading platforms. Suncor intends to execute the NCIB in a manner that is consistent with its commitment to capital discipline, by ensuring that the level of spending is in line with the prevailing commodity price environment and resulting cash flows. Subject to the block purchase exemption that is available to Suncor for regular open market purchases under the NCIB, Suncor will limit daily purchases of Suncor common shares on the TSX in connection with the NCIB to no more than 25% of the average daily trading volume of Suncor's common shares on the TSX during any trading day. Purchases under the NCIB will be made through open market purchases at market price, as well as by other means as may be permitted by the TSX and any other securities regulatory authorities, including by private agreements. Purchases made by private agreement under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in the exemption order. In the future, Suncor may enter into an automatic share purchase plan in relation to purchases made in connection with the NCIB.

18:38 EDT National Oilwell reports Q1 book-to-bill of 41% for Rig Systems - Backlog for capital equipment orders for Rig Systems at March 31 was $2.32B. New orders during the quarter were $118M, representing a book-to-bill of 41% when compared to the $285M of orders shipped from backlog.

18:25 EDT People's Utah Bancorp announces CEO succession in 2018 - People's Utah Bancorp is expanding its executive management team with the addition of Len E. Williams. Williams will begin his employment on September 1 as Executive Vice President of PUB and of People's Intermountain Bank, the wholly owned subsidiary of PUB. Richard T. Beard, who currently serves as President and CEO of PUB and CEO of PIB will retire as CEO and President effective January 2, 2018. Williams will replace Beard at both PUB and PIB at the time of Beard's retirement, but will report to Beard until that date. Williams began serving on the PUB board of directors in March of this year. Williams, age 58, most recently served as President and CEO of Home Federal Bank in Nampa, Idaho from 2006 through its sale to Bank of the Cascades in 2014.

18:14 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Ultra Clean (UCTT), up 10.7%... Teradyne (TER), up 9.6%... CryoLife (CRY), up 6.9%... Allison Transmission (ALSN), up 6.8%... MKS Instruments (MKSI), up 6.6%... AXT, Inc. (AXTI), up 6.4%... PayPal (PYPL), up 5.8%... Graco (GGG), up 5.2%... ServiceNow (NOW), up 4.5%... Xilinx (XLNX), up 3.7%... Washington Prime (WPG), down 3.1%... Martin Midstream Partners (MMLP), up 2.3%... Cavium (CAVM), up 2.2%... Whiting Petroleum (WLL), up 2%... Rogers Corporation (ROG), up 1.7%. ALSO HIGHER: Intuit (INTU), up 7.3% after it released its final update for FY17 consumer tax offerings and confirmed its guidance for Q3 and FY17... Weight Watchers (WTW), up 5.6% after it named Mindy Grossman as its new chief executive officer... H&R Block (HRB), up 2.9% after it reported a market share gain for the 2017 tax season. DOWN AFTER EARNINGS: Mellanox (MLNX), down 11.1%... F5 networks (FFIV), down 7.7%... Cimpress (CMPR), down 7.3%... Citrix (CTXS), down 5.8%... Netgear (NTGR), down 5.6%... Ethan Allen (ETH), down 4%... Amgen (AMGN), down 3.4%... Knowles (KN), down 3%... Buffalo Wild Wings (BWLD), down 2.6%... O'Reilly Automotive (ORLY), down 1.9%... Boston Beer (SAM), down 1.8%. ALSO LOWER: American Semiconductor (AMSC), down 41.6% after it cut its fourth quarter revenue guidance mainly due to fewer than anticipated ECS shipments to Inox Wind... Southern First Bancshares (SFST), down 5% after it filed to sell 700,000 shares of common stock... Brookline Bancorp (BRKL), down 3.8% after it reported quarterly results and filed to sell common stock.

18:05 EDT Kilroy Realty signs leases on 890,000 square feet of space in 2017 - Kilroy Realty said that it has signed new or renewing leases on more than 890,000 square feet of space across the company's portfolio during the first four months of the year. Rents on these leases were up 19% on a cash basis and 36% on a GAAP basis. This robust leasing activity, in addition to the leases signed in 2016 that have not yet commenced, has reduced the company's 2017 expirations of 757,000 square feet to approximately 355,000 square feet or less than 3% of total expirations. The strong leasing performance spanned all four major markets of the company's West Coast portfolio that include Seattle, San Francisco, Los Angeles and San Diego. For the quarter ended March 31, 2017, the company executed 747,000 square feet of leases at rents that were up 15% on a cash basis and up 29% on a GAAP basis. The leases signed during this period included a renewal by Expedia of its 112,000 square-foot lease at the company's Skyline Tower in the Bellevue CBD submarket of greater Seattle. The renewal terms extended half the square footage to 2020 and the other half to 2023. In San Francisco, at the company's 303 Second Street property, App/Dynamics, recently acquired by Cisco, renewed and expanded its lease by 67,000 square feet or 76% to take a total of just under 150,000 square feet for a term of five and a half years. And in San Diego, the company signed multiple leases totaling 157,000 square feet of space in several different projects.

17:43 EDT Portland General Electric increases dividend 6.3% to 34c per share - Portland General Electric approved a 6.3% increase in the regular quarterly common stock dividend to 34c per share, up from last quarter's dividend of 32c per share. The dividend is payable on or before July 17 to shareholders of record at the close of business on June 26.

17:39 EDT Lockheed Martin awarded $422.7M government contract - Lockheed Martin Corp., Lockheed Martin Aeronautics Co., Fort Worth, Texas, is being awarded $422,738,589 for cost-plus-fixed-fee modification P00022 to the previously awarded low-rate initial production Lot 10 F-35 Lightning II advance acquisition contract. This modification provides the procurement of production non-recurring special tooling and special test equipment to support the F-35 Joint Strike Fighter production. Work is expected to be completed in December 2020. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

17:37 EDT FedEx awarded $2.35B government contract - Federal Express Corp., Memphis, Tennessee, was awarded a five-year $2,351,165,436 (estimated) indefinite-delivery/indefinite-quantity, fixed-price next generation delivery service contract. This contract provides express small package delivery services for international shipments and express and ground small package delivery services for domestic shipments. Service shall be provided for the federal government, contractors who have a cost-reimbursable contract line item number under another government contract which includes transportation of small packages, and other authorized users. Services required include time-definite, door-to-door pickup and delivery, transportation, timely and accurate in-transit visibility, and customs clearance processing (if applicable). This contract may include shipments of foreign military sales. Work will be performed internationally and domestically, with an expected completion date of Sept. 30, 2022. Fiscal 2017 transportation working capital funds in the amount of $1,500 are being obligated at time of award as a minimum guarantee per awardee; remaining funds will be obligated on individual task orders. This contract was a competitive acquisition and three offers were received. The U.S. Transportation Command, Directorate of Acquisition, Scott Air Force Base, Illinois, is the contracting activity.

17:29 EDT RCI Hospitality acquires assets of St. Louis real estate and gentlemen's club - RCI Hospitality acquired the assets of a gentlemen's club and real estate to make a low cost entry into Greater St. Louis. A subsidiary has acquired the assets of Hollywood Showclub for $1.0M from the club's owner. Hollywood Showclub is a 12,000 square foot venue 10 minutes from downtown St. Louis. Separately, another subsidiary has acquired the club's building and land from its landlord, as well as adjacent land that could be used to open another club, and a nearby building and land that it intends to lease to a third party to operate another gentlemen's club. The RCI subsidiary paid a total of $3.2M for these properties, and plans to use them to apply for mortgage financing.

17:26 EDT Las Vegas Sands reports Q1 Venetian Macao net revenue down 1.1% to $741M - Reports Q1 Venetian Macao adjusted property EBITDA up 7.8%. Reports Sands Cotai net revenue down 11.9% to $467M. Reports Sands Cotai adjusted property EBITDA down 12.3%. Reports Parisian Macao net revenue down 7.6% to $318M. Reports Four Seasons Hotel Macao and Plaza Casino net revenue down 3.4% to $143M. Reports Sands Macao net revenue up 4% to $182M.

17:21 EDT Pattern Energy acquires 324 megawatt Broadview Wind in NM - Pattern Energy Group announced it has acquired interests in the two wind projects that comprise the 324 megawatt Broadview Wind power facilities and associated independent 35-mile 345 kV Western Interconnect transmission line from Pattern Energy Group LP for $269M, consisting of cash consideration of $215M and an assumed project loan of $54M. Broadview, which is located 30 miles north of Clovis, New Mexico, commenced commercial operations in late March. "This extraordinary project brings inexpensive renewable power from eastern New Mexico, one of the highest wind areas in the west, using dedicated transmission capacity from several transmission systems into California. Broadview's production complements production from California's domestic renewable resources helping California transition to a carbon-free, low-cost, renewable grid," said Mike Garland, President and CEO of Pattern Energy. "We are especially excited to bring this project on line because Pattern Development is actively developing several significant opportunities in New Mexico and the southwest U.S. as part of the region's increasing demand for low-cost, renewable energy. These new opportunities will be subject to our ROFO as part of our relationship with Pattern Development."

17:18 EDT Hub Group sees FY17 CapEx $90M-$100M - Says truck brokerage and unison businesses performed "very well" in Q1. Says 2017 should be "strong year." Sees FY17 gross margin 11%-11.5%. Sees intermodal prices declining in Q2, stabilizing in 2H17. Sees FY17 $90M-$100M. Says delaying construction of headquarters. Comments taken from Q1 earnings conference call.

17:12 EDT Independent Bank says receives all regulatory approvals for Island merger - Independent Bank and Island Bancorp, parent of The Edgartown National Bank, jointly reported the following in connection with the proposed merger of Island with and into Independent: All regulatory approvals relating to the merger have been received and applicable regulatory waiting periods have expired as of April 25. The merger is anticipated to close on or about May 12. The transaction remains subject to the satisfaction of customary closing conditions.

17:08 EDT Oceaneering sees 'income improvements from all of our business segments' in Q2 - Management said, "Based on our first quarter results, we continue to expect to be marginally profitable at the operating income line on a consolidated basis. For the second quarter, we are anticipating quarterly operating income improvements from all of our business segments, except for Subsea Products which we are expecting to be relatively flat. And today, we announced that the Board maintained our current dividend rate and declared a $0.15 per share dividend to be paid during the second quarter."

17:06 EDT Valvoline says holders approve corporate governance changes - Valvoline announced that Valvoline shareholders affirmatively voted in favor of the Valvoline Board's proposed amendments to the Company's Amended and Restated Articles of Incorporation to reduce and eventually eliminate supermajority voting thresholds for shareholders to remove a director from the Company's Board without cause; adopt, repeal, alter or amend any provision of the Company's By-laws; and amend, alter, change, or repeal or to adopt any provision inconsistent with Article V, Article VI, Article VII and Article VIII of the Articles. The amendments will immediately reduce the current supermajority voting thresholds from 80% to 66-and two thirds percent for all of the amended provisions, and on the third anniversary of the amendments, reduce the 66-and two thirds percent supermajority voting thresholds to simple majority voting thresholds for all of the provisions.

17:03 EDT Kirby sees FY17 CapEx $165M-$185M

17:01 EDT Concordia appoints David Price as CFO - Concordia has appointed David Price as CFO of the company. Price succeeds Edward Borkowski, who is departing the company to pursue other opportunities. Price will begin his role on May 15, at which time he will report to CEO Allan Oberman. In the interim, the Company's financial responsibilities will be overseen and managed by Adeel Ahmad, CFO of the International segment of Concordia, and Bryan Jacobs, corporate controller of Concordia. The timing of this announcement is unrelated to Concordia's Q1 financial results or earnings process. Price most recently served as CFO of Bioventus, a private equity-backed global provider of medical devices in the orthobiologics field.

16:58 EDT Essendant CFO Earl Shanks retiring, succeeded by Janet Zelenka - Essendant has appointed Janet Zelenka as CFO effective May 26. Zelenka will succeed Earl Shanks who will be retiring from the company after assisting in a brief transition. Zelenka joined Essendant in 2006 and currently serves as the company's Chief Information Officer.

16:57 EDT Amgen reports Q1 Enbrel sales down 15% - Reports Q1 Enbrel sales down 15% "due to the impact of competition as well as lower rheumatology and dermatology segment growth." Reports Prolia sales up 21% driven by higher unit demand. Reports Sensipar/Mimpara sales up 15% "driven primarily by net selling price." Reports Epogen sales down 10% driven by higher unit demand. Reports Kyprolis sales up 23% driven by higher unit demand. Reports Neupogen sales down 31% "driven primarily by the impact of competition." Reports Blincyto sales up 26% driven by higher unit demand.

16:45 EDT AMSC trading resumes

16:43 EDT Dheeraj Pandey reports 7.9% passive stake in Nutanix

16:41 EDT H&R Block reports market share gain for tax season 2017 - H&R Block released its preliminary U.S. tax results, reflecting an overall market share gain. Total H&R Block tax season return volume outperformed U.S. industry results with a decline in e-files of 0.1% through April 21, compared to the IRS reported decline of 0.3%1. "Despite an overall industry decline, I am delighted to report that we improved the client trajectory for the tax season and achieved overall market share gains," said Bill Cobb, H&R Block's president and chief executive officer. "I am extremely pleased with our online performance, which resulted in 6.8% return growth for the fiscal year." The company's overall market share gain during the tax season was the result of improved performance compared to the prior year in both the Assisted and DIY categories. Overall return volume was impacted by the decline in industry-wide filings. In the Assisted category, H&R Block reported much better performance than last tax season with a decline in e-files of 1.6%, compared to the IRS reported decline of 0.7% through April 21. This improvement in performance resulted from the company's aggressive promotional offerings in the first half of the season and increased sales efforts. Additionally, the company enhanced its client experience, incorporating the cognitive computing technology of IBM Watson. In the DIY category, H&R Block outperformed the industry, with e-files increasing 2.3% through April 21, compared to the IRS reported increase of 0.2%. The company's increase in returns was attributable to the introduction of the H&R Block More ZeroSM promotion, and significant product enhancements, including "drag-and-drop" and photo capture capabilities for importing current year tax forms and prior year tax returns.

16:38 EDT Jazz Pharmaceuticals reports 'positive' results from Phase 3 study of JZP-110 - Jazz Pharmaceuticals announced positive efficacy results from the global multicenter study of JZP-110 in adult patients with excessive sleepiness associated with narcolepsy. Based on the preliminary safety analysis, the most commonly reported adverse events in this study were generally consistent with those previously observed in the Phase 2 clinical studies evaluating JZP-110 in narcolepsy. "Excessive sleepiness in narcolepsy remains an important unmet medical need, and we believe that the statistically and clinically significant effect observed in this study indicates that JZP-110 could be an important treatment option for patients," said Karen Smith, M.D., Ph.D., global head of research and development and chief medical officer of Jazz Pharmaceuticals. "Subject to completion of the data analysis and our regulatory discussions with FDA, we expect to submit the JZP-110 NDA for excessive sleepiness in obstructive sleep apnea and narcolepsy in late 2017. We are grateful to the patients and investigators who contributed to this successful study. This study exemplifies our ongoing and increasing commitment to R&D, as demonstrated by the large number of important clinical and regulatory activities that we have underway to bring new therapies to patients." In TONES 2, JZP-110 demonstrated highly statistically significant improvement in the co-primary endpoints of the Maintenance of Wakefulness Test and the Epworth Sleepiness Scale and in the key secondary endpoint of the Patient Global Impression of Change (PGIc) scale at the 300 mg and 150 mg doses compared to placebo. These effects were maintained throughout the course of the study. The JZP-110 75 mg dose reached statistical significance on the co-primary endpoint of MWT, but did not reach statistical significance on the co-primary endpoint of ESS. The endpoints of MWT and ESS measure patients' ability to stay awake and patients' subjective levels of sleepiness, respectively. Based on a preliminary safety analysis, the most commonly reported adverse events across all doses in TONES 2 were headache, nausea, decreased appetite, nasopharyngitis, dry mouth, and anxiety. There was one patient with two serious adverse events on JZP-110 that were considered not treatment related as assessed by the investigator. The open-label, long-term safety and maintenance of efficacy study is ongoing, and the results will be included in the planned New Drug Application submission

16:36 EDT Zoetis receives EC marketing authorization for Cytopoint - Zoetis announced that the European Commission has granted the company marketing authorization for Cytopoint, the first monoclonal antibody therapy approved in the European Union for veterinary use. Cytopoint is indicated to treat the clinical signs, including itching and inflammation, associated with atopic dermatitis in dogs of any age weighing 3 kilograms or more. Cytopoint targets and neutralizes canine interleukin-31, a key protein involved in triggering itch in dogs. Administered by injection once monthly, Cytopoint provides fast, long-lasting relief of itching - the hallmark sign of the allergic skin condition atopic dermatitis in dogs - and the inflammation and lesions it causes. Cytopoint helps improve the long-term health and quality of life for dogs suffering from atopic dermatitis and eases the related frustration and concern of their owners.

16:35 EDT Americas Silver reports Q1 consolidated silver production 524,000 ounces - Reports Q1 silver equivalent production 1.1M ounces. "As previously announced, the year began slowly at Galena with expected lower grades and some necessary mill maintenance affecting silver and lead production but we are encouraged for the rest of the year with the lower grades, the mill liner changed and the associated backfill challenges behind us," said Americas Silver President and CEO Darren Blasutti. "Development at San Rafael has recently been slowed but measures have been taken to address the poor ground conditions. We anticipate being able to resume our targeted development rate once we are in more competent ground in early May. We continue to expect to begin production from San Rafael by the end of Q3, 2017 within budget. San Rafael will transform the Company to a first-quartile cash cost producer and generate substantial cash flow in 2018 and beyond."

16:33 EDT MetLife says elects Hubbard as lead independent director - MetLife announced that its board of directors has elected R. Glenn Hubbard as independent lead director. Hubbard's election is effective June 13, 2017, the date of the company's 2017 annual shareholders meeting. Hubbard's re-election as a director will be among those subject to shareholder approval at the annual meeting. Hubbard would succeed Cheryl Grise, who will continue to serve as a board member. Hubbard joined MetLife's board in 2007. Grise joined MetLife's board in 2004 and has served as independent lead director since 2010.

16:31 EDT Badger Meter to acquire D-Flow Technology - Badger Meter announced it has signed a definitive agreement to acquire D-Flow Technology AB of Luleundefined, Sweden, for approximately $23 million in cash. "D-Flow Technology is a knowledge-based company specializing in ultrasonic technology, primarily for flow measurement... We believe the D-Flow Technology will strengthen our position in ultrasonic flow measurement by enabling us to further enhance our existing E-Series Ultrasonic product line, lower production costs and provide a platform for the continuing advancement of our ultrasonic capabilities," the company said. The acquisition will close effective May 1, 2017.

16:28 EDT Sussex Bancorp announces 50% increase in quarterly dividend - Sussex Bancorp announced that its Board of Directors declared a quarterly cash dividend of 6c per common share, a 50% increase from the same period of the previous year, which is payable on May 24, 2017 to common shareholders of record as of the close of business on May 10.

16:26 EDT Netgear authorizes incremental repurchase of up to 3M shares - The company announced that its Board of Directors has authorized a program to repurchase up to 3,000,000 shares of the company's common stock, or approximately 9.1% of the outstanding shares. This is incremental to the approximate 1,123,000 shares remaining on the company's previous share repurchase program. "We continue to believe that stock repurchases are an effective way of returning capital to shareholders, and plan to be opportunistic buyers of our stock in the coming quarters," said CFO Christine Gorjanc.

16:25 EDT Weight Watchers jumps 9% after naming CEO with Oprah's approval

16:19 EDT Equifax CEO says 'confident about our outlook for growth in 2017' - "We are off to a strong start in 2017 with our first quarter performance," said Richard F. Smith, Chairman and CEO at Equifax. "Broad-based growth was driven by our continued focus on new product innovation, delivering on our enterprise growth initiatives and execution of our vertical market strategies. We remain confident about our outlook for growth in 2017."

16:17 EDT HSN, Inc. CEO Mindy Grossman to step down as CEO - HSN announced that Mindy Grossman will step down as CEO in order to assume a leadership position with another public company. Grossman's resignation will be effective on May 24 and she will not stand for election to the board at the annual meeting on the same date. In the interim, she will work with senior management and the board to ensure a smooth transition. The board has retained a national search firm to assist with the search for a successor that will include both internal and external candidates.

16:16 EDT CrossAmerica increases quarterly distribution 0.8% - CrossAmerica Partners announced that the board of its general partner has approved a quarterly distribution of 61.75c per unit attributable to Q1, representing a 0.8% increase in the partnership's cash distribution from Q4. The Q1 distribution is payable on May 15 to all unitholders of record on May 8.

16:15 EDT AMSC trading halted, news dissemination

16:13 EDT Whiting Petroleum raises FY17 production to 45.2-46.2 MBOE - Cuts FY17 LOE per BOE to $8.25-$8.75.

16:11 EDT Whiting Petroleum sees Q2 production 10.2-10.8 MBOE

16:08 EDT Waste Connections proposes 3-For-2 stock split - Waste Connections announced that it proposes to split its common shares on a three-for-two basis. The proposed share split has been approved by the company's board and requires the approval of shareholders at the annual meeting to be held on May 23, 2017. Following shareholder approval of the share split, it is expected that shareholders of record as of the close of business on June 7, will receive from the company's transfer agent on June 16, 2017 one additional common share for every two shares held. "We believe the stock split, our fourth such split since our founding almost twenty years ago, demonstrates our continuing commitment to both broaden our shareholder base and enhance liquidity for investors," said Ronald Mittelstaedt, Chairman and Chief Executive Officer.

16:01 EDT Intuit reports FY17 TurboTax units up 2% - Intuit released the second and final update for its fiscal year 2017 consumer tax offerings. Season-to-date through April 22, total TurboTax units grew 2 percent versus the comparable prior-year period. "We grew units and revenue in a challenging environment," said Dan Wernikoff, executive vice president and general manager of Intuit's TurboTax business. "Internal Revenue Service returns are relatively flat and our share of the do-it-yourself category was slightly down. Revenue growth exceeded unit growth this season as share declines were concentrated in the lower-end of our product line-up."

15:41 EDT General Dynamics unit awarded $96M contract modification by U.S. Navy - The U.S Navy has awarded General Dynamics Electric Boat a $95.5M contract modification to continue development of the Common Missile Compartment for the U.S. Navy's Columbia-class submarine and the Royal Navy's Dreadnought-class ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics. The contract modification will enable procurement of 17 missile tubes which will support the manufacture of the Common Missile Compartment. Initially awarded in December 2012, the five-year, $1.85B contract calls for Electric Boat to perform research and development work for the Navy's next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. The potential value of the overall contract is $2.5B.

15:31 EDT Community Bank System, Merchant Bancshares approved for merger - Community Bank System (CBU) and Merchants Bancshares (MBVT) announced that they have received regulatory approvals from the Board of Governors of the Federal Reserve System and Office of the Comptroller of the Currency for their proposed merger.

15:17 EDT Trump Effect: Tax preparers fall as administration promises simpler code - Shares of publicly-traded tax preparers are lower after the Trump administration outlined its tax reform and simplification plan. TRUMP PLAN: Wednesday afternoon, Treasury Secretary Steve Mnuchin and National Economic Council director Gary Cohn unveiled the broad strokes of President Trump's tax plan. Among other changes, the proposal calls for just three tax brackets and a doubling of the standard deduction - likely reducing the need to itemize - while eliminating many tax breaks, with Cohn appearing to specifically criticize the convoluted nature of tax preparation: "Today, the basic 1040 form has 79 lines and 211 pages of instructions... Taxpayers spend nearly seven billion hours complying with these tax codes every year, and nearly 90% of taxpayers need some help in filing their taxes." PRICE ACTION: Shares of H&R Block (HRB) and Intuit (INTU) are down 0.6% and 2.4% in afternoon trading. "Trump Effect" is The Fly's recurring series of exclusive stories that highlight stocks that are being impacted, or are predicted to be impacted, by the comments, actions and policies of President-elect Trump and his administration.

15:01 EDT U.S. Bank names Kate Quinn chief administrative officer - U.S. Bank announced that one of its executive leaders will be taking on an expanded role and another will be retiring from the company this summer. Kate Quinn, executive vice president and chief strategy and reputation officer, has been promoted to vice chairman and chief administrative officer. In this role, she will oversee all strategy, reputation and human resources work and report to Andy Cecere, president and chief executive officer. Quinn joined U.S. Bank in 2013 to lead the company's reputation and strategy efforts. Meanwhile, Kent Stone, vice chairman of Consumer Banking Sales and Support, has announced his intention to retire from the company this summer.

14:55 EDT Amazon debuts 'Echo Look' camera, style assistant - Amazon debuted its "Echo Look" product Wednesday. The $199 device is a hands-free camera and style assistant, with Amazon explaining that "using just your voice, easily take full-length photos and short videos with a hands-free camera that includes built-in LED lighting, depth-sensing camera, and computer vision-based background blur... Get a second opinion on which outfit looks best with Style Check, a new service that combines machine learning algorithms with advice from fashion specialists." Reference Link

14:37 EDT Milacron says DME subsidiary to expand Greenville facility - Milacron Holdings announced that DME, a wholly owned subsidiary of Milacron, will expand its Greenville manufacturing facility. Milacron plans to invest approximately $5M and create up to 70 full-time jobs in Michigan. "This expansion and investment announcement follows the recent decision to close a DME facility in Youngwood, PA. Milacron plans to consolidate operations of its mold technology manufacturing and fabrication to its Greenville, MI location. In addition to the consolidation, Milacron plans to make significant investments to expand the capabilities of its Greenville location," the company noted. The Michigan Economic Development Corporation is supporting the new development with the approval of a $490,000 Michigan Business Development Program performance-based grant. In addition, the City of Greenville is considering the approval of a PA 198 local tax abatement in support of the project.

13:43 EDT Energy Transfer Partners holders approve Sunoco Logistics merger - Sunoco Logistics Partners (SXL) and Energy Transfer Partners (ETP) announced that at a special meeting of ETP unitholders held earlier today, the unitholders voted to adopt the Agreement and Plan of Merger dated as of November 20, 2016, as amended, by and among ETP, SXL, their respective general partners, certain wholly owned subsidiaries of SXL and, solely for certain provisions therein, Energy Transfer Equity, L.P. (ETE), pursuant to which ETP will become a wholly owned subsidiary of SXL. Based on the results, 88% of the units voted at the special meeting voted in favor of adoption of the Merger Agreement. The votes in favor of the Merger Agreement constituted more than a majority of ETP's units outstanding as of the record date for the special meeting, and, as a result, the Merger Agreement was approved and adopted by the ETP unitholders. The merger is expected to close on April 28, 2017. The combined company will be named Energy Transfer Partners, L.P. and its common units are expected to begin trading on the New York Stock Exchange under the "ETP" ticker symbol on Monday, May 1, 2017. ETE management has advised ETP that ETE confirms its intention to continue to support the growth of the combined company in a manner consistent with ETE's prior support transactions, thereby continuing the alignment of the interests of ETE and the combined company. This support from ETE may include additional incentive distribution subsidies or other actions that have the effect of reducing the cost of capital for the equity of the combined company. This support may also include the purchase of equity of the combined company by ETE to help fund growth capital projects of the combined company.

13:39 EDT Activision Blizzard unveils next 'Call of Duty,' says launching November 3 - Activision Blizzard unveiled "Call of Duty: WWII" on Wednesday. The company said, "On Friday, November 3, Call of Duty: WWII players will enlist in an unforgettable journey... In addition to the game's boots-on-the-ground combat, Multiplayer offers a host of new modes, systems and gameplay innovations across iconic map locations; while an all-new Nazi Zombies Cooperative mode unleashes a startling, new storyline."

13:32 EDT FCC chairman Pai proposes to roll back net neutrality rules - As previewed in recent media reports, FCC chairman Ajit Pai has confirmed while delivering a speech that he is proposing to roll back net neutrality rules, according to media coverage of the event. Potential stakeholders in net neutrality include Netflix (NFLX), Facebook (FB), Amazon (AMZN), Alphabet (GOOG), Comcast (CMCSA), Verizon (VZ) and AT&T (T).

13:01 EDT Castle Brands up 13% after report of considering sale

12:45 EDT Nvidia adds six artificial intelligence startups to GPU venture portfolio - Nvidia announced in a blog post Wednesday that it "is expanding its portfolio of startup investments, adding six companies in three countries over the past year." The six investments include ABEJA, a Tokyo-based startup focused on AI-powered retail analytics systems; Datalogue, a New York AI data-mining platform developed out of Cornell University; Optimus Ride, an MIT spinoff developing fully autonomous vehicles; SoundHound, a Silicon Valley startup building voice-enabled AI solutions; TempoQuest, a Boulder, Colo.-based startup doing GPU-accelerated weather forecasting; and Zebra Medical, an Israeli-based startup using AI to read medical images. "In addition, as previously announced, we just last month made our third investment in MapD, one of the most exciting startups we've ever seen, which uses GPUs to query massive databases. Plus, we'll be announcing at GTC the seventh AI startup we've recently invested in," the company added. Reference Link

12:23 EDT Ahmed Alomari reports 6.2% passive stake in Professional Diversity Network

12:18 EDT Optical equipment makers dip as Huawei probe said to widen - Shares of optical component makers have been under pressure this morning following a New York Times report claiming that U.S. officials are widening their investigation into whether China's Huawei, one of the world's biggest sellers of the back-end equipment for cellular networks, broke sanctions against Cuba, Iran, Sudan and Syria. An administrative subpoena, which was previously unreported, was sent to Huawei in December by the United States Treasury Department's Office of Foreign Assets Control, which oversees compliance with a number of American sanctions programs, according to The New York Times. Following the report, Oclaro (OCLR) is down 9.5%, Acacia (ACIA) is down 5%, Lumentum (LITE) is down 4.5%, Finisar (FNSR) is down 2.6%, and Fabrinet (FN) has fallen nearly 7%.

11:31 EDT Grainger raises dividend 5% to $1.28 per share - W.W. Grainger announced that its board of directors voted to raise the quarterly cash dividend by 5% to $1.28 per share, payable on June 1 to shareholders of record on May 8.

11:10 EDT Battleground: Piper says buy Chipotle after earnings while RBC steps aside - Shares of Chipotle Mexican Grill (CMG) are on the rise after the burrito chain reported better than expected results for the quarter. Also of note, however, is news that the company said that it had detected "unauthorized activity" on its payment network. Reacting to the results and breach news, some bullish Wall Street analysts raised their price targets on the stock, while RBC Capital analyst David Palmer downgraded Chipotle to a Neutral-equivalent rating. RESULTS: Last night, Chipotle reported first quarter earnings per share of $1.60 and revenue $1.07B, both above consensus of $1.27 and $1.05B, respectively. The burrito chain also said that comparable restaurant sales increased 17.8%, while backing its 2017 same-store sales view for growth at a high-single digit percentage rate. Additionally, the company noted that it began testing a 5% price increase in 440 locations earlier this month. Chipotle also announced that it "recently detected unauthorized activity on the network that supports payment processing for purchases made in our restaurants. We immediately began an investigation [...] focused on card transactions in our restaurants that occurred from March 24, 2017 through April 18, 2017." MOVING TO THE SIDELINES: In a post-earnings note, RBC Capital's Palmer downgraded Chipotle to Sector Perform from Outperform, based on valuation. The analyst told investors that given the current sales trends and pace of margin recovery, he will wait for signs of a two-year sales acceleration or a pullback in the stock before becoming more constructive on the name. Nonetheless, Palmer raised his price target on the shares to $500 from $465. Meanwhile, his peer at Wedbush reiterated a Neutral rating on Chipotle and said that while margins surprised to the upside, visibility is "no clearer in the absence of larger price increase." Moreover, analyst Nick Setyan pointed out that April trends imply current sales trends are intact, but "a further step up" is needed as the year progresses. Another round of price increases is unlikely in 2017, delaying a potential catalyst for upward 2018 revisions, he argued. Setyan reiterated a $450 price target on the shares, adding that he believes current valuation appropriately reflects an improving top-line trajectory, offset by limited visibility into Chipotle's near and medium-term margin trajectory. ANALYSTS UP TARGETS: Conversely, some analysts voiced more bullish stances on the burrito chain. This morning, SunTrust analyst Jake Bartlett raised his price target for Chipotle to $550 from $500, noting that the company's same-store sales accelerated in the first quarter and that he believes the drivers are in place to sustain the recovery. Further, the analyst argued that he expects the impact from the company's new TV advertising to build and digital orders to sustain momentum, driving strong same-store sales for the rest 2017 and into 2018. Bartlett reiterated a Buy rating on the shares. His peer at Piper Jaffray also raised her price target for Chipotle to $530 from $483, while recommending investors add to positions on strength. Analyst Nicole Miller pointed out that the next catalyst is for the company to string together a series of steady quarterly improvements supported by operational improvements as well as marketing, which would then offer greater line-of-sight into 2018 earnings potential. Miller reiterated an Overweight rating on the shares. Meanwhile, Credit Suisse analyst Jason West raised his price target for Chipotle to $425 from $375, saying the first quarter exhibits a "strong rebound." Nonetheless, the analyst noted that outlook is more mixed and he continues to believe the cost of customer recapture will be higher than expected, particularly amid a very tight labor market and increasing competition. He reiterated a Neutral rating on the shares. PRICE ACTION: In morning trading, shares of Chipotle have advanced about 4% to $489.12.

11:01 EDT Aspen Insurance raises quarterly dividend 9.1% to 24c per share - The Board of Directors of Aspen Insurance Holdings Limited has declared a quarterly cash dividend on Aspen's ordinary shares of 24c per ordinary share. The amount payable increased by 2c per ordinary share from Aspen's previous quarterly dividend. The dividend is payable on May 30 to the holders of record as of the close of business on May 12.

10:57 EDT Analyst sees video game makers boosted by continued shift to digital - Pacific Crest analyst Evan Wingren resumed coverage of the interactive entertainment sector with a positive outlook. Fueled by higher digital distribution rates, the sector should generate additional gross margin gains going forward, the analyst stated. Additionally, Wingren believes that companies in the sector should be able to use data they obtain from online users to improve their games and raise their monetization levels. The analyst recommends investors own the shares of video game makers Electronic Arts (EA), Activation Blizzard (ATVI) and Take-Two Interactive (TTWO), as he resumed coverage of all three stocks with Overweight ratings. ELECTRONIC ARTS: Wingren says that Electronic Arts' "high value" games with "predictable" sales volumes should enable its revenue and margins to increase over time. Additionally, he believes that the company is poised to lower its development costs going forward. He placed a $112 price target on the stock. ACTIVISION: The video game maker's "tremendous" intellectual property and popular digital games leave it well-positioned to benefit from increased spending on digital, Wingeren stated. Moreover, the large audiences of its digital games should enable it to continue attracting more users and allow its profits to beat expectations, according to Wingren, who set a $60 price target on the stock. TAKE-TWO: The success of the company's Red Dead Redemption 2 game, along with the "sustainability" of its GTA Online and NBA 2K franchises should enable its earnings power to exceed "historical norms," Wingren wrote. He set a $74 price target on the stock. WHAT'S NOTABLE: Video game and hardware retailer GameStop (GME) announced this morning that it has just received a limited supply of Nintendo's (NTDOY) popular Switch systems, which are "available immediately for customers in-store only and while supplies last." The shift of physical games to more digital delivery has frequently been cited in the past as a risk for GameStop. PRICE ACTION: In morning trading, Electronic Arts added 0.2% to $93.20, Activision Blizzard slipped 0.3% to $51.19, and Take-Two declined 0.2% to $62.52, while GameStop gained about 1%.

10:47 EDT Boeing says Q1 operating cash flow $2.1B

10:39 EDT Boeing says 700 orders in backlog for 787 Dreamliner

10:38 EDT Boeing seeing strong narrowbody demand

10:36 EDT Maersk picks Microsoft as preferred cloud partner - Maersk announced that it has joined forces with Microsoft in a strategic move to revolutionize supply-chain management and global trade. From its connected vessels to its transportation economics, the company is betting on Microsoft to fuel growth and power logistics globally. This agreement means that: Microsoft has been selected as the preferred cloud partner for Maersk's digital transformation journey, supporting its high-value assets such as carrier performance, equipment utilization and supplier performance. Microsoft Azure is the digital platform of record to power Maersk's app store and help fuel business model innovations. Microsoft's intelligent cloud will be used to enhance operational performance, increase the visibility and predictability of supply chains, and improve service to millions of Maersk customers worldwide.

09:52 EDT Express Scripts says 'still best long-term partner' for Anthem, Bloomberg says - Express Scripts (ESRX) said that Anthem (ANTM), which said today on its earnings call that it has not "ruled in or out" any PBM contractor from competing for its business, has not offered Express Scripts the request for proposal that was said to be sent out in Q1. Bloomberg cites an Express Scripts spokesman for the comments.

09:38 EDT Anthem says 'continually committed' to Cigna acquisition - Anthem CEO Joe Swedish added that the company is "proceeding with all the effort necessary to come to a reasonably good outcome regarding our commitment to the acquisition."

09:32 EDT GameStop announces new supply of Nintendo Switch systems available - Just in time for the April 28 launch of Mario Kart 8 Deluxe, GameStop (GME) announced that it just received a limited supply of Nintendo (NTDOY) Switch systems available immediately for customers in-store only and while supplies last.

09:31 EDT AMC Networks, Charter Communications announce content partnership - Charter Communications (CHTR) and AMC Networks (AMCX) announced a partnership that will leverage the growing capacity of AMC Studios to develop and co-produce distinct, high-quality original programming, with exclusive co-branded content for Charter's Spectrum platform. The partnership will give Spectrum customers access to content created specifically for them, further differentiating Charter's platform and services. The companies expect the first content co-produced and co-funded through this partnership to premiere on Charter Spectrum in 2018. Under the agreement between the two companies, Charter will have an exclusive initial window in the U.S. to the co-produced content for use on its own platform, while AMC Studios will retain subsequent rights, including the right to distribute the content internationally.

09:28 EDT FedEx extends official sponsorship of NFL - FedEx announced today the extension of its official sponsorship of the National Football League to remain the exclusive "Official Delivery Service Sponsor" of the NFL, Super Bowl and Pro Bowl. The new agreement signals the continuation of the FedEx Air & Ground NFL Players of the Week and Players of the Year awards program, the fan-driven platform highlighting the league's leaders at the quarterback and running back positions.

09:23 EDT GD's Novakovic says 'little doubt' company can ramp to meet Army, Marines' needs

09:20 EDT Express Scripts rises after Anthem says 'hasn't ruled out' any PBM contractors - Anthem (ANTM) CEO Joseph Swedish said on the company's Q1 call that he would not address Express Scripts' (ESRX) comments that the company sees it as unlikely that its contract with Anthem will be extended, adding that Anthem has not "ruled anyone in or out" regarding its Pharmacy Benefit Manager RFP that was issued in Q1. While Anthem's call continues, Express Scripts shares have jumped 4% in pre-market trading.

09:12 EDT Anthem says hopes to resolve dispute with Express Scripts - Anthem's earnings call is continuing.

09:06 EDT Facebook's Instagram reports over 700M users on platform - Instagram announced in a blog post that its community has grown to more than 700M users, adding that "the last 100 million of you joined faster than ever." Reference Link

09:06 EDT Green Plains to acquire cattle feet yards from Cargill for $36.7M - Green Plains announced that its subsidiary, Green Plains Cattle Company, has entered into an asset purchase agreement to acquire two cattle-feeding operations from Cargill for $36.7M, excluding working capital. The transaction includes feed yards located in Leoti, Kan. and Yuma, Colo. and will add capacity of 155,000 head to the company's operations. Upon completion of the acquisition, Green Plains Cattle Company will become the fourth largest cattle-feeding operation in the United States with total capacity of more than 255,000 head.As part of the transaction, Green Plains Cattle will also enter into a long-term supply agreement with Cargill Meat Solutions to provide a reliable supply of cattle from the Leoti and Yuma locations, as well as Green Plains' existing feedlot in Kismet, Kan., with appropriate flexibility and economic opportunities for both parties.

09:03 EDT Banner Corp. investors confirm all nominated directors to board - Banner Corporation announced that shareholders approved all proposals and re-elected all director nominees at its 2017 Annual Meeting held April 25 in Walla Walla, Washington.

09:01 EDT Arthur J. Gallagher acquires Commercial Insurance Brokers - Arthur J. Gallagher acquired Tulsa, Oklahoma-based Commercial Insurance Brokers. Terms of the transaction were not disclosed. Formed in 2012, Commercial Insurance Brokers is a group of insurance producers and service personnel offering a range of property/casualty and employee benefit products and services to energy, construction, financial services, manufacturing, transportation, professional services, nonprofit, healthcare and high-net-worth clients throughout the U.S. States and internationally. Brad McCrory and his associates will continue to operate from their current location under the direction of Bret VanderVoort, head of Gallagher's South Central retail property/casualty brokerage operations.

08:59 EDT Disney will continue local content production in India, Variety says - Disney is not dropping local content production in India, despite last year's move to shutter its Bollywood film production operations following rising production costs and ticket prices in the India theatrical film business, Variety reports, citing comments made by Andy Bird, chairman of Walt Disney International, at the Asia Pacific Video Operators Summit convention in Indonesia. "I've never been more excited about India," Bird said. "It was misinterpreted that we were giving up on local production," adding the company has 12 products in development. Reference Link

08:47 EDT Anthem CEO sees greater clarity on 2018 footprint by Q2 call, 'if not sooner'

08:43 EDT Anthem says taking 'hard look' at operations, culture given shifting landscape - Anthem CEO Joseph Swedish said he has challenged leadership at the company to take a "hard look" at its operations and culture given the shifting landscape facing the healthcare industry and political uncertainties. Swedish is speaking on the company's earnings call.

08:42 EDT Procter & Gamble says 'not immune' to macro dynamics - Says inventory drawdowns hurt U.S. sales by almost a point in Q3. Says expects to pay dividends of over $7B in 2017, purchase over $5B in stock. Says dealing with "unprecedented" amount of geopolitical uncertainty, volatility and says company is "not immune" to macro dynamics. Says external challenges -- slow market growth, economic instability, forex impacts, rising commodity costs, retail trade transformation -- are "very real." Comments taken from the Q3 earnings conference call. Procter & Gamble is down 0.9% in pre-market trading.

08:40 EDT Finjan Mobile enters partnership agreement with Avira - Finjan Holding announced that its subsidiary Finjan Mobile has entered into a partnership agreement with Avira. Avira will provide its Virtual Private Network Platform for distribution and sale by Finjan Mobile as part of its VitalSecurity suite of product offerings. The companies also entered into a confidential cross-license under their respective patents. "Finjan Mobile's industry-leading VitalSecurity Browser has proven to be a sought-after application among mobile users with over 150,000 downloads in less than five months," said Phil Hartstein, Finjan president and CEO. "As we work to build upon our suite of secured products, the partnership with Avira will allow us to reach a much broader customer base across multiple platforms. We are committed to offering a best-in-class suite of secure mobile applications and a robust foundation for the security and privacy of each user."

08:37 EDT Ability receives listing deficiency notification from NASDAQ - Ability received notification from the Nasdaq Listings Qualifications Department that as a result of the recent resignation of all of the company's independent directors from the company's board of directors, the company is no longer in compliance with NASDAQ Listing Rules as its board of directors is no longer comprised of a majority of independent directors nor does it have an audit committee, compensation committee or nominating committee. The company has until May 3, a period shorter than normal, to submit a plan to regain compliance with the above listing rules, and if such plan is accepted by NASDAQ, then NASDAQ can grant an extension until October 16 for the company to regain compliance with such rules. In addition, NASDAQ requested that the company submit a detailed narrative that provides additional information regarding the events and circumstances that led to the simultaneous resignation of the independent directors and certain corporate documentation. The company is searching for qualified independent directors to serve on the Board and the applicable committees thereof. The company intends to appoint these directors prior to May 3. If the company is unable to appoint such independent directors prior to May 3, it intends to submit the requested plan to NASDAQ.

08:34 EDT Lilis Energy to begin trading on NYSE on May 9 - Lilis Energy's common stock has been approved for listing on the NYSE MKT. The company's common stock is expected to begin trading on NYSE MKT under its current symbol "LLEX," beginning at the open of market trading on May 9. Lilis intends to terminate the listing of its common stock on NASDAQ. The company intends to file with SEC a Form 25 related to the delisting from NASDAQ prior to or at the commencement of trading on the NYSE MKT, and the delisting will be effective ten days after the filing of the Form 25.

08:32 EDT United Technologies: GTF retrofit costs already factored into Pratt's outlook - Comments from Q1 conference call.

08:25 EDT Alnylam: Patisiran achieves mean 7.0 decrease in mNIS+7 in Phase 2 study - Alnylam Pharmaceuticals announced final 24-month results from its Phase 2 open-label extension study of patisiran, an investigational RNAi therapeutic targeting transthyretin for the treatment of hATTR amyloidosis. These clinical data are being presented at the American Academy of Neurology 2017 Annual Meeting, held April 22 -- 28, 2017 in Boston, Massachusetts. New results showed a mean decrease in the modified neuropathy impairment score at 24 months that provides continued evidence that patisiran has the potential to halt or improve neuropathy progression in patients with hATTR amyloidosis. In a new post-hoc analysis, patisiran showed a mean improvement in mNIS+7 across the full range of neuropathy severity at baseline. Moreover, patisiran administration was found to be associated with statistically significant decreases in TTR amyloid deposition as measured from a blinded analysis of skin biopsy samples. Finally, patisiran was found to be generally well tolerated, with no drug-related serious adverse events for up to 25 months of treatment or drug-related discontinuations. Dosing continues for all eligible Phase 2 OLE patients who have now transitioned into the ongoing APOLLO-OLE study. The company remains on track to present top-line results from its ongoing APOLLO Phase 3 study of patisiran in mid-2017.

08:23 EDT Flex Pharma: FDA clears FLX-787 to commence U.S. Phase 2 trial in ALS under IND - Flex Pharma announced that the company's investigational new drug application for FLX-787 for patients with ALS is effective which allows the company to commence its U.S. Phase 2 clinical trial of FLX-787 in ALS patients who suffer from cramps as a consequence of the disease. The company expects to begin enrolling US patients this summer in this randomized, controlled, double-blinded, parallel design study, referred to as the COMMEND trial. In addition, the company has exploratory Phase 2 studies currently ongoing in patients with MS and ALS in Australia. FLX-787 is a small molecule co-activator of the TRPA1 and TRPV1 ion channels, and has been shown to prevent and reduce the frequency and intensity of muscle cramps in a human model of electrically induced cramps. This Phase 2 clinical trial is designed to evaluate FLX-787 in patients with motor neuron disease, focused on ALS, who suffer from cramps. This randomized, controlled, double-blinded, parallel design trial in the US will include a run-in period to establish a baseline in cramp frequency. Patients will then be randomized to 30 mg of FLX-787 administered three times a day or control, for 28 days. Patients will be evaluated for changes in cramp frequency as the primary endpoint, with a number of secondary endpoints.

08:22 EDT Twitter CFO notes momentum in number of upfront commitments signed - Twitter CFO Anthony Noto said the company has been "really encouraged" by the success in its live premium content, both in the product quality, the broadened selection, and the audience aggregation and monetization. Noto added that the company is seeing momentum in the number of upfront commitments signed, but added that "advertisers have long allocation processes, that takes 6 to 12 months to turn around, so we have a lot of work left to do." In the quarter specifically, Twitter did see an "improvement and stabilization in the back half of the quarter," said Noto, who attributed that "directly to the execution of our team going out and communicating the improved ROI story to advertisers."

08:14 EDT PepsiCo says will likely to see margin compression in 1H

08:11 EDT Vail Resorts reports North American total lift tickets up 7.4% y-o-y - Vail Resorts reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 23, 2017, and for the prior year period through April 24, 2016. The reported ski season metrics are for its North American resorts, adjusted as if Whistler Blackcomb was owned in both periods using comparable exchange rates in each applicable period. Season-to-date total lift ticket revenue at the company's North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 7.4% compared to the prior year season-to-date period. Season-to-date ancillary spending increased compared to the prior year, with ski school revenue up 4.5% and dining revenue up 3.3% at the company's North American mountain resorts. Additionally, retail/rental revenue for North American resort store locations was up 3.4% compared to the prior year season-to-date period. Season-to-date total skier visits for the company's North American mountain resorts were down 2.8% compared to the prior year season-to-date period. Regarding the outlook for fiscal 2017, Vail CEO Rob Katz said, "Based on our performance this spring we expect that our FY17 Resort Reported EBITDA will be in the top half of the guidance range issued on March 10, 2017."

08:09 EDT ManTech wins $229M U.S. DHS contract for border protection - ManTech International announced a $229M EAGLE II Task Order to provide business intelligence support to the U.S. Department of Homeland Security, Customs and Border Protection, Office of Information and Technology. CBP's mission is to safeguard America's borders, thereby protecting the public from dangerous people and materials while enabling legitimate travel and trade. The OIT supports the overall CBP mission by providing solutions that aid inspection and enforcement activities to safeguard the United States. ManTech will provide business intelligence support services to assist CBP officers and border enforcement personnel in effectively and efficiently identifying cargo, individuals, and conveyances that may present additional risk to the United States; conducting terrorism analysis and global assessments that convey changes in terrorism threats and identify emerging threats; developing and evaluating CBP-wide intelligence-based targeting rules and intelligence-driven special operations; and coordinating and enhancing analysis and targeting efforts. ManTech will perform its work on a cost-plus-fixed-fee basis, with a period of performance of one base year and four option years. Services include project management, intelligence analysis, predictive modeling, threat research support, and a host of software platforms. This award expands ManTech's ongoing partnership with DHS.

08:09 EDT Twitter CFO says DAU growth accelerated in 7 of top 10 markets - Twitter CFO Anthony Noto made the comment about daily active user growth on Twitter's Q1 earnings call.

08:08 EDT Veracyte's Afirma GSC to feature in preentations at AACE Annual Meeting - Veracyte announced that new data demonstrating the performance of the Afirma Gene Expression Classifier in thyroid cancer diagnosis and its long-term impact on patient care will be presented at the AACE 26th Annual Scientific and Clinical Congress, the annual meeting of the American Association of Clinical Endocrinologists. In addition, researchers will share data validating the company's Afirma test, the Afirma Genomic Sequencing Classifier, at the meeting being held May 3-7 in Austin, Texas.

08:07 EDT Sajan to be acquired by Amplexor for $5.83 per share in cash - Sajan Inc. and AMPLEXOR International SA, announced that a definitive merger agreement has been signed, whereby Sajan will be acquired by a wholly-owned subsidiary of AMPLEXOR International. Under the terms of the merger agreement, Sajan shareholders will receive $5.83 per share in cash for each share of Sajan common stock, representing a 46 percent premium over Sajan's closing price as of April 25, 2017. Sajan's committee of independent directors and its Board of Directors have unanimously approved the merger agreement and agreed to recommend that shareholders adopt the agreement and approve the merger. Closing of the transaction is subject to customary closing conditions, including, among others, the affirmative vote in favor of the transaction by holders of a majority of Sajan's outstanding common stock. It is anticipated that the special meeting of Sajan's shareholders to vote on the transaction will be held in July 2017 and, if the transaction is approved, the merger would be expected to close shortly thereafter. Dougherty & Company, LLC is acting as exclusive financial advisor to Sajan and provided a fairness opinion to the special committee of the Board of Directors of Sajan. Fredrikson & Byron, P.A. is acting as legal advisor for Sajan and Quarles & Brady LLP is acting as legal advisor to AMPLEXOR.

08:06 EDT PepsiCo sees core operating margin expansion in 2017, $10B in cash flow from ops - Vice Chairman and CFO Hugh Johnston says expects forex neg impact reported revenue by approx. 2 percentage points, an improvement of 1 point from previous guidance Sees raw material inflation driven by an increase in basket of commodities. Sees core operating margin expansion in 2017, core effective tax rate approx. 24%. For 2017, sees $10B in cash flow from operations, net CapEx of approximately $3B, approx. $7B in free cash flow ex-items, cash dividends of approx. $4.5B, share repurchases of about $2B.

08:06 EDT Dorsey says seeing 'significant decrease' in abuse on Twitter - Twitter CEO Jack Dorsey said on the company's Q1 earnings call that the company has made "significant progress" in its efforts to reduce abuse on Twitter, stating "In the past few months alone, we've released a series of product features and machine learning models. And as a result, we are seeing a significant decrease of people experiencing abuse on Twitter, as measured by reports and blocks. There's lots more to do, but we're on the right path."

08:04 EDT Norfolk Southern reports Q1 railway operating ratio 70% - The railway operating ratio, or operating expenses as a percentage of revenues, was 70%, a first-quarter record.

07:58 EDT PepsiCo: Delay of tax refunds 'dampened' consumer spending - PepsiCo Chairman and CEO Indra Nooyi says Q1 results "right in line" with expectations. Says delay of income tax refunds dampened Q1 consumer spending across "virtually every consumer category." Comments taken from the Q1 earnings conference call.

07:56 EDT Sears Canada reports Q4 SSS up 1.3% y-o-y. - Q4 core retail SSS increased by 0.9%.

07:49 EDT Becton Dickinson licenses novel molecular indexing technology to Roche - Becton Dickinson (BDX) announced that it has non-exclusively licensed its patented stochastic labelling technology to Roche for multiple commercial applications. BD's patented stochastic labelling technology incorporating molecular indexes, enables the precise counting of individual biological molecules, including DNA or RNA, in complex and often volume-limited samples. BD is developing a suite of products utilizing this technology for accurate quantitative measurements of mRNA targets from single cells, enabling researchers to gain greater insights into the biology of complex and heterogeneous samples.BD is also working with additional partners to license this technology and enable the development of novel tools and assays for the scientific community. Specific financial terms of the agreement have not been disclosed.

07:38 EDT Boeing backs FY17 CapEx view approximately $2.3B - Cuts FY17 effective tax rate view to approximately 31% from approximately 32%.

07:36 EDT Boeing backs FY17 commercial airplane deliveries view of 760-765

07:34 EDT Boeing reports Q1 commercial airplane deliveries of 169, down 4% y/y - Reports Q1 operating margin 8.5% vs. 7.2% a year ago.

07:33 EDT Boeing reports backlog of $480B at Q1-end - Total company backlog at quarter-end was $480B, up from $473B at the beginning of the quarter, and included net orders for the quarter of $27B.

07:31 EDT Boeing raises FY EPS guidance

07:29 EDT State Street sees FY17 NII up 4%-6%; outlook assumes 2 rate hikes this year - Says outlook for rest of 2017 "improved modestly" and is within previously disclosed ranges. Sees FY17 total fee revenue growth 4%-6%, assumes market conditions as of January 2017 and includes the impact of the strengthening U.S. dollar. Sees FY17 fee operating leverage 100-20bps, with variability across quarters. Sees State Street Beacon pre-tax net expense savings of at least $140M, sees restructuring charges as SSB continues to progress. Says expense savings to partially offset expenses to support new business, continued business investments, merit and depreciation increases. Sees FY17 NII $2.27B-$2.3B, or up 4%-6%. Assumes rate hikes of 0.25% in March and September; sees market rates trending higher from January levels, continued quantitative easing in major markets outside the U.S. Sees effective tax rate of 30%-32%, excluding impact of any potential tax law changes given present high level of uncertainty. Expects to reduce inters earning asets 0%-5%. Says SSB on track to deliver financial benefits to be achieved through 2020, says to achieve annual pre-tax net run rate expense savings of $550M by end of 2020 for full effect in 2021. Says to achieve, maintain operating basis pre tax operating margin of at least 31% by 2018, 33% by end of 2020. Sees pre-tax restructuring charges of $300M-$400M from 2016-2020. Comments from slides that will be presented on the Q1 earnings conference call.

07:26 EDT Credit Suisse plans CHF 4B capital raise via underwritten rights offering - Credit Suisse said: "In October 2015, we presented our strategy to be a leading wealth manager with strong investment banking capabilities. At the time, we were clear that we needed an additional CHF 9-11 billion of capital. Our capital plan involved raising CHF 6 billion by end-2015 by way of a private placement and rights offering in 4Q15, followed by generating at least CHF 1 billion of capital through asset disposals and other management actions during 2016. In addition, we announced that we were intending to undertake a partial IPO of Credit Suisse AG in 2H17 in order to raise CHF 2-4 billion of capital for the Group. On February 14, 2017, at our 4Q16 results presentation, we said that following the settlement with the US Department of Justice relating to our legacy residential mortgage-backed securities business, we would examine a range of options to determine the course of action with the most attractive risk/reward outcome for our shareholders. After due consideration, the Board of Directors of Credit Suisse Group AG proposes to raise capital through a rights offering, firmly underwritten by a banking syndicate, for which the proceeds net of fees, expenses and taxes are expected to amount to approximately CHF 4 billion4 involving the issuance of 379'981'3404 new registered shares with a par value of CHF 0.04 each. The Board of Directors additionally proposes to retain full ownership of Credit Suisse AG and to move to an all cash dividend in the future, thus removing the dilution associated with the scrip dividend."

07:18 EDT Twitter jumps 10% after Q1 earnings report - Twitter shares are up $1.48, or 10%, to $16.14 in pre-market trading.

07:16 EDT Asterias reports results of Phase 2 trial on AST-VAC1 for Acute Myeloid Leukemia - Asterias announced that results from its completed Phase 2 clinical trial of AST-VAC1 were published in Cancer, a peer-reviewed journal of the American Cancer Society. The publication describes the previously reported results of the Phase 2 study of AST-VAC1, Asterias' patient-specific dendritic cell cancer vaccine, in which 57% of patients who received AST-VAC1 had prolonged relapse-free survival, including high-risk patients over 60 years old or in second remission. The Phase 2 trial was designed to evaluate the safety and tolerability of the AST-VAC1 vaccination regimen in patients with intermediate or high risk AML who were in complete clinical remission. Long-term follow-up results showed that 11 out of 19 patients, 58%, receiving AST-VAC1 during complete remission were relapse-free with a median follow-up of 52 months. In addition, four out of seven patients, 57%, over the age of 60 remained in remission after a median 54 months of follow-up. Such prolonged relapse-free survival was favorable compared to that previously reported for these patient groups: 20-40% overall group and 10-20% for subjects over 60 years old. AST-VAC1 was found to be safe and well-tolerated in this study over multiple vaccinations.

07:15 EDT RA Pharmaceuticals initiates dosing of RA101495 in PNH patients - Ra Pharmaceuticals announced that it has initiated dosing in the Company's global Phase 2 clinical program evaluating RA101495 for the treatment of paroxysmal nocturnal hemoglobinuria, or PNH. Ra Pharma is a clinical stage biopharmaceutical company focusing on the development of next-generation therapeutics for the treatment of complement-mediated diseases and is developing RA101495 as a novel and potent subcutaneously-administered inhibitor of complement component 5, or C5. Inhibition of C5 is a clinically validated approach for the control of complement-induced hemolysis, the process responsible for the rupture and destruction of red blood cells in patients with PNH.

07:10 EDT The Medicines Co., Alnylam announce agreement with FDA - The Medicines Company (MDCO) and Alnylam Pharmaceuticals (ALNY) announced that The Medicines Company has agreed with the FDA on plans for the Phase III clinical program for inclisiran, which is designed to support the submission of a New Drug Application, or NDA. The company has received final, End-of-Phase II meeting minutes from the FDA. The Phase III program will comprise clinical trials in subjects with atherosclerotic cardiovascular disease and familial hypercholesterolemia, and will collectively enroll approximately 3,000 subjects randomized to treatment with inclisiran or placebo. The primary endpoint for all pivotal trials will be LDL-C change from baseline. Subjects will be studied for 18 months. The dose of inclisiran will be 300 mg given subcutaneously on day-1, day-90 and then every six months thereafter. Subjects will receive a total of four doses of inclisiran during the 18-month study period.

07:03 EDT Tyson Foods commits to new, sustainable approach to better workplace - As part of Tyson Foods' focus on sustainable food production at scale, the company has committed to expanded efforts to create a better workplace at its production facilities. "We believe sustainability is about continuous improvement and solutions that last, and this includes a healthier workplace," said Noel White, chief operations officer at Tyson Foods. "We've always been committed to supporting our employees and have sound workplace practices in place, but also want to do better. That's why we're taking steps that include expanding training, improving workplace safety and compensation, increasing transparency and helping workers with life skills." By investing in sustainability, Tyson Foods expects to create a beneficial cycle of contributing to the future, while paying for itself in the present. Investments in sustainability are expected to fund themselves through reduced waste and costs.Tyson Foods employs 114,000 Team Members, including more than 95,000 who work in the company's U.S. production facilities. This includes chicken, beef, pork and prepared foods operations. Highlights of Tyson Foods' expanded workplace efforts include: A continuing commitment to a goal of zero worker injuries and illnesses; striving to achieve a 15% year-over-year reduction in worker injuries and illnesse; A commitment to a goal of zero turnover; striving for a 10% year-over-year improvement company-wide in Team Member retention; Plans to hire 25 or more poultry plant trainers, adding to the more than 260 trainers and 30 training coordinators the company has hired for its poultry business since 2015; Expansion of the We Care safety communications program to all poultry plants; Continued participation of hourly workers in plant safety councils; A pilot compensation program at two poultry plants that involves significantly increasing base wages and shortening the time it takes new workers to move to higher wage rates.

07:02 EDT Lear maintains FY17 outlook

06:58 EDT BHP Billiton says 'more to do' to further simplify portfolio - BHP Billiton CEO Andrew Mackenzie said: "Everything we do at BHP Billiton is designed to create value for all of our shareholders, today and for the long term. We have fundamentally restructured BHP Billiton to increase returns. The demerger of South32 and $7B of divestments has reduced the number of assets in the portfolio by over a third and our new organisational structure has removed layers of management. Our more focused portfolio has enabled us to lower unit costs by over 40%. And we have improved our approach to capital management which has strengthened the balance sheet and increased the discipline with which we invest and return cash to our shareholders. But we have more to do and we are not standing still. A simpler portfolio allows us to improve safety and operational performance more quickly with maintenance, project and geoscience centres of excellence spreading petroleum and minerals expertise across the group. We have significantly reduced the capital intensity of our growth options and changed our approach in shale to improve returns and lower risks on new investments. Our more focused approach in exploration is delivering results with three discoveries over the last 12 months and our new technology function will unlock further value."

06:55 EDT BHP Billiton reports 9-mo. to March copper production down 20% to 939kt - Total copper production for the nine months ended March 2017 decreased by 20 per cent to 939 kt. "Escondida copper production for the nine months ended March 2017 decreased by 23 per cent to 546 kt due to industrial action. The strike ended on 24 March 2017 when Union N degrees 1 informed BHP Billiton that they would exercise their rights under Article 369 of the Labour Code to extend the existing collective agreement for 18 months. Operations are expected to return to full capacity during April 2017, with a focus on safety during the transition period. Escondida copper production of between 780 and 800 kt is now expected for the 2017 financial year," BHP said.

06:54 EDT Ocwen asks Federal Court for expedited decision that CFPB is unconstitutional - Ocwen Financial announced the filing of two related motions that seek an early court ruling that the Consumer Financial Protection Bureau is unconstitutional, and so its enforcement action against Ocwen should be thrown out. As discussed in yesterday's legal filings, Ocwen believes that the CFPB is unconstitutionally structured because it vests too much unfettered power in the hands of the CFPB's Director and the Bureau itself, without any meaningful oversight by the President or Congress. A panel of three judges on the D.C. Circuit Court of Appeals recently found that the CFPB is unconstitutionally structured-a decision which is now being reviewed by the entire D.C. Circuit Court of Appeals. In that case, the Department of Justice recently filed a brief that stated its agreement with the panel decision, that the CFPB is unconstitutional for this reason. In yesterday's filings, Ocwen informed the Court and the DOJ that Ocwen intends to directly challenge the CFPB's constitutionality at the earliest possible opportunity and to seek dismissal of the case on this ground and others. Ocwen's filings ask the Court for a case management conference to discuss how the parties can get to that issue first, before any other proceedings in the case. Ocwen has also filed a separate motion specifically asking the Court to invite the Department of Justice to participate in the case so the Court can consider fully the Attorney General's conclusion that the CFPB is unconstitutionally structured. Ocwen seeks to get this issue resolved early, because it should be relieved of having to defend this unfair action from an unconstitutional agency. The filings inform the Court how this lawsuit reflects what happens when there is an unaccountable agency like the CFPB. For example, the Complaint is riddled with allegations about conduct that Ocwen already addressed-sometimes years ago-with refunds, credits, or other consumer remedies. Moreover, the CFPB contends that on "numerous" occasions or "at least one thousand" times Ocwen has wrongfully started or completed foreclosures on consumers who were in the midst of applying for or performing a loan modification. But so far as Ocwen is aware-and the Complaint does not identify the loans-the CFPB did not actually look at the individual servicing files for these consumers' loans before making this allegation. Over the course of two years, Ocwen has been in regular communications with the CFPB. Despite Ocwen's cooperation and repeated offers to provide specific loan files for the CFPB's review, the CFPB has proceeded by filing a lawsuit without factual or legal merit, apparently in an effort to bolster its own political agenda. Although Ocwen believes the lawsuit should be dismissed on constitutional grounds, it also is prepared to vigorously contest the inaccurate CFPB allegations. Finally, the CFPB's conclusory claims of borrower harm are incompatible with the well-documented positive results from Ocwen's borrower-assistance efforts. Ocwen's ability to help homeowners at risk of foreclosure remain in their homes through responsible loan modifications continues to positively impact communities across the country. Since January 1, 2008, Ocwen has granted over 735,000 loan modifications, including approximately 75,000 in 2016, and Ocwen is responsible for 20% of all modifications under the U.S. Department of the Treasury Home Affordable Modification Program, the federal government's leading modification program. Ocwen also has provided billions of dollars in principal forgiveness to homeowners at risk of foreclosure. In addition, Ocwen has worked closely with its Community Advisory Council, a diverse group of national, regional, and local non-profit housing counseling, community development, and civil rights organizations, to maximize Ocwen's positive impact in communities across the country.

06:44 EDT Tesla Model S loses top ratings spot, Consumer Reports says - Consumer Reports is lowering the ratings of two Tesla vehicles because the automaker has not enabled the new models with the automatic emergency braking safety feature it said would come as standard. The maker of electric vehicles continues to say it is working through software problems, but that has left owners without the promised feature, some for as long as six months. The previous Model S and Model X came with functioning AEB as standard. Models produced between late October 2016 and now do not. In a statement to Consumer Reports, Tesla says it expects the software update to come Thursday. The Tesla Model S loses two points in the ratings, dropping to a score of 85, from 87. The original higher score was based on the AEB system in the earlier version of the Model S. The new lower score moves the ranking from the top spot in the ultraluxury car category to third behind the Lexus LS and BMW 7 Series, among the seven cars rated. For the Tesla Model X, the score drops to 56 from 58, moving it to near the bottom of the luxury midsized SUV category. "Automatic Emergency Braking and other safety features are a top priority, and we plan to introduce them as soon as they're ready," Tesla said in the statement. "We believe it would be morally wrong and counterproductive to our goal of improving consumer safety to release features before they're ready, and we believe our customers appreciate that." Tesla declined to answer a question about any potential compensation for owners who have driven their vehicles for up to six months without the benefit of advanced safety functions and convenience features they may have expected much sooner. Consumer Reports has received four software updates to its Model S, but none has included AEB. Consumer Reports questioned Tesla in January about AEB as part of planning for the magazine's Annual Auto Issue, which focuses on vehicle testing and ratings. Tesla gave reassurances then that AEB would be launched soon. The company further assured CR testers for the review of the Model S 60D in February that the update was weeks away. When the review was published March 17, the new AEB still had not been launched. Reference Link

06:41 EDT MarketAxess reports record Q1 total trading volume $394.4B, up 27.2%

06:37 EDT Nasdaq raises dividend 19% to 38c from 32c per share - The dividend is payable on June 30 to shareowners of record at the close of business on June 16.

06:32 EDT Ingersoll-Rand reports Q1 bookings up 6%, organic bookings up 7%

06:17 EDT 3D Systems, United Therapeutics announce bioprinting agreement - 3D Systems (DDD) and United Therapeutics (UTHR) announced plans to develop solid-organ scaffolds for human transplants. The multi-year collaboration and development agreement combines the 3D printing and precision healthcare expertise of 3D Systems with the regenerative medicine and organ manufacturing capabilities of United Therapeutics. 3D Systems will collaborate with United Therapeutics and its organ manufacturing and transplantation-focused subsidiary, Lung Biotechnology PBC. The agreement focuses on development of 3D printing systems for solid-organ scaffolds, beginning with lung scaffolds. The printing system will target collagen and other building block proteins as scaffold raw materials. Lung Biotechnology PBC will cellularize the scaffolds with patient-specific biological material, including re-differentiated stem cells.

06:13 EDT Alaska Air reports Q1 PRASM down 4.9%, Q1 RASM down 5.7% - Reports Q1 CASM-ex down 1.6%. Reports Q1 traffic up 36.6%, Q1 capacity up 37.7%.

06:06 EDT Anthem reports medical enrollment up about 0.7M members to 40.6M - Medical enrollment increased sequentially by approximately 0.7M members, or 1.8%, totaling approximately 40.6M members as of March 31.

06:04 EDT Anthem sees FY17 medical membership 40.2M-40.4M - Prior view was 40.1M-40.3M. Fully insured membership is now expected to be in the range of 15,200,000 - 15,300,000 and self-funded membership is expected to be in the range of 25,000,000 - 25,100,000.

06:01 EDT Thermo Fisher raises 2017 revenue, adjusted EPS guidance

05:54 EDT Intuitive Surgical receives CE Mark for new da VinciX Surgical System - Intuitive Surgical announced that its new da Vinci X Surgical System received CE Mark approval in Europe. The da Vinci X System will provide surgeons and hospitals with access to some of the most advanced robotic-assisted surgery technology at a lower cost.