Stockwinners Market Radar for June 10, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:02 EDT Electromed enters settlement pact with Centers for Medicare, Medicaid Services - According to a regulatory filing, on June 5, 2017, Electromed entered into a settlement agreement with the Centers for Medicare and Medicaid Services with respect to approximately 700 Medicare fee-for-service claims submitted by the Company between calendar years 2012 through 2015 amounting to approximately $2.9M in original claims based on the Medicare allowable rates. The company previously requested an administrative law judge hearing for reconsideration of these denied Medicare claims. Under the settlement agreement, the company estimates CMS will pay approximately $1.1M to the company within 120 days from the effective date in exchange for the company's withdrawal of its request for an administrative law judge hearing and agreement not to further appeal the denial of the underlying claims. Of the estimated $1.1M settlement payment, $900,000 will be recognized as revenue during the company's fiscal quarter ended June 30, 2017. From time-to-time, the company is party to appeals and the reconsideration of Medicare claims in the ordinary course of business.

17:45 EDT Pure Storage director sells 31,166 common shares - In a regulatory filing, Pure Storage director Michelangelo Volpi disclosed the sale of 31,166 common shares of the company in multiple tranches, with each tranche bought at $13.1945 per share.

17:29 EDT CSRA awarded $498M government contract - CSRA, Falls Church, Virginia, was awarded a competitive single award, indefinite-delivery/indefinite-quantity contract for milCloud 2.0 Phase 1 commercial infrastructure services in the Department of Defense facilities, connected to DoD networks in a private deployment model for use by the DoD community and DoD partners to include transition engineering services. The contract ceiling is $498M and the minimum guarantee to be awarded via task order 0001 is $600,000 funded by fiscal 2017 defense working capital funds. Performance will be in Alabama, and Oklahoma. Proposals were solicited via FedBizOpps, and five proposals were received. The period of performance for the base period is June 9, 2017 through June 8, 2020 with five, one-year option periods. The Defense Information Technology Contracting Organization, Scott Air Force Base, Illinois, is the contracting activity.

17:24 EDT Teradata to replace Align Technology in S&P 400 at open on June 19

17:23 EDT Align Technology to replace Teradata in S&P 500 at open on June 19

17:16 EDT BD, Bard receive second requests from FTC under HSR act - BD (BDX) and C.R. Bard (BCR) announced that the two companies have each received a request for additional information from the Federal Trade Commission in connection with BD's pending acquisition of Bard. The second request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. This second request is a standard part of the regulatory process in connection with the FTC's review. The transaction, which was announced on April 23, 2017, is subject to regulatory and Bard shareholder approvals and customary closing conditions, including expiration or termination of the waiting period under the HSR Act.

16:50 EDT AWM lowers passive stake in CEVA to 4.6% from 5.2%

16:47 EDT Lone Star lowers stake in Edgewater to 2.3%

16:45 EDT Growth Equity Opportunities V reports 9.9% stake in Trillium Therapeutics

16:39 EDT Senomyx CFO Tony Rogers to resign - On June 6,, Tony Rogers tendered his resignation as our Senior Vice President and CFO, effective as of July 28,. Mr. Rogers' departure is not related to any disagreement with the company's accounting, operating policies or practices. In connection with Mr. Rogers' resignation, the company entered into a consulting services arrangement with Mr. Rogers, which will begin on July 28 and will continue until December 22 . Under the Agreement, Mr. Rogers will provide up to ten hours of service to the Company per month and will assist with the transition of the principal financial and accounting officer role. He will receive aggregate cash compensation of approximately $12,115 for the term of the Agreement. In addition, Mr. Rogers may be eligible to receive a one-time bonus for contributions made during 2017. The amount of such bonus, if any, will be determined by the Compensation Committee of the Board of Directors in its sole discretion. The foregoing summary of the terms and conditions of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is attached as Exhibit 10.1 to this Current Report on 8-K and incorporated herein by reference.

16:37 EDT VA Partners reports 10.6% stake in Alliance Data

16:32 EDT SAIC awarded $404M task order by GSA - The General Services Administration, on behalf of the U.S. Army Software Engineering Directorate, awarded Science Applications International Corp. the Virtual, Interactive, and Multimedia, System Engineering Services task order worth more than $404M. Awarded under the GSA One Acquisition Solution for Integrated Services (OASIS) contract vehicle, the task order has a one-year period of performance, four one-year options, and work will be performed in Redstone Arsenal, Alabama.

16:23 EDT Morningstar sees market for private market data opportunity for PitchBook - Morningstar said in a regulatory filing, "The addressable market for private market data is a significant opportunity for the PitchBook business. According to the Burton Taylor research, the market for the M&A-related content reached $1.7 Billion at the end of 2015 (source: Burton-Taylor International Consulting LLC Financial Market Data / Analysis Global Share & Segment Sizing 2016). According to our own more targeted institutional market sizing data, there are approximately 50,000 firms globally, including corporate development groups, venture capital firms, private equity groups, investment banks and lenders, limited partner investors, law and accounting firms and other service providers, and early stage businesses seeking financing, representing the addressable market. PitchBook currently serves approximately 2,200 of those firms, leaving ample runway for expansion in this market."

16:17 EDT Artisan Partners reports AUM as of May 31 totaled $108.9B - Separate accounts accounted for $54.2B of total firm AUM, while Artisan Funds and Artisan Global Funds accounted for $54.7B.

16:11 EDT Bombardier sells five Q400 aircraft to undisclosed customer - Bombardier Commercial Aircraft announced that it has concluded a firm order for five Q400 aircraft with an undisclosed customer. Based on the list price of the Q400 aircraft, the order is valued at approximately $162M. "We are pleased to announce this new Q400 sale as it is further acknowledgement of the aircraft's unmatched performance, operational flexibility, industry-leading economics and passenger comfort. The Q400 is clearly the most versatile turboprop solution for airlines," said Fred Cromer, President, Bombardier Commercial Aircraft.

16:08 EDT Levin Capital reports 5.1% passive stake in NanoString

16:03 EDT Fenix Parts requests extensions to file Form 10-K, Form 10-Q - Fenix Parts announced that it has requested from The Nasdaq Stock Market additional extensions to file its Form 10-K for the year ended December 31, 2016 and for its Quarterly Report on Form 10-Q for the period ended March 31, 2017. As previously announced, the Nasdaq Hearing Panel's most recent extension provided that the company's continued listing on The Nasdaq Stock Market is subject to, among other things, the Company filing with the Securities and Exchange Commission its 2016 Form 10-K by June 9, 2017, its March 31, 2017 Form 10-Q by July 14, 2017, and its June 30, 2017 Form 10-Q Quarterly Report on Form 10-Q by August 14, 2017. While the extension request is pending, the company expects that its common stock will continue to trade on Nasdaq uninterrupted, pending the Panel's response. While the company is hopeful that the Panel will grant an extension, no assurances can be provided that the Panel will elect to do so. The delay in the company's filing of its 2016 Form 10-K is attributable in large part to a delayed start in the year-end financial reporting and related audit field work, following the company's submission of its quarterly reports on Forms 10-Q for the periods ended September 30, 2016 and June 30, 2016.

16:01 EDT Urstadt Biddle Properties Inc. announces 2M share repurchase program - Urstadt Biddle Properties announced a share repurchase program of up to 2M shares, in the aggregate, of the Company's Common Stock, Class A Common Stock, Series F Cumulative Preferred Stock and Series G Cumulative Preferred Stock, as market conditions warrant. The share repurchase program has been authorized by UBP's Board of Directors and represents less than 5% of the Company's total combined outstanding Common, Class A Common and Series F and Series G Preferred Shares. This repurchase program replaces a prior repurchase program where the Board of Directors authorized the repurchase of up to 2M shares in the aggregate, of Common, Class A Common and Preferred shares. Share repurchases may be made in the open market or in private transactions, and at times and in amounts that the Company deems appropriate. The share repurchase program will be funded with available cash and may be discontinued at any time. There is no guarantee that the company will repurchase any shares pursuant to the repurchase program.

15:37 EDT Great Southern Bancorp announces early termination of loss sharing agreements - Great Southern Bancorp announced that its wholly owned subsidiary, Great Southern Bank, has entered into an agreement with the FDIC that terminates the Bank's loss sharing agreements related to the Bank's 2012 acquisition of certain assets and assumption of all deposits of Maple Grove, Minn.-based Inter Savings Bank through an FDIC-assisted transaction. The agreement requires the FDIC to pay $15M to the Bank to settle all outstanding items related to the terminated loss sharing agreements. As a result of entering into the agreement, assets that were covered by the terminated loss sharing agreements, including covered loans in the amount of $138.8M and covered other real estate owned in the amount of $2.9M as of March 31, 2017, have been reclassified as non-covered assets, effective June 9, 2017. Accordingly, in the second quarter of 2017, the Company expects to realize a one-time after-tax gain of approximately 35c per diluted common share, inclusive of the write-off of the remaining indemnification asset, other receivables from the FDIC and the Bank's clawback liability due to the FDIC. There will be no future effects on the Company's non-interest income (expense) related to adjustments or amortization of the indemnification asset and the related clawback liability for Inter Savings Bank. The remaining accretable yield adjustments that affect interest income are not changed by this transaction and will continue to be recognized for all of the Bank's FDIC-assisted transactions in the same manner as they have been previously. The termination of the loss sharing agreements for the Inter Savings Bank transaction will have no impact on the yields for the loans that were previously covered under this agreement. All future recoveries, gains, losses and expenses related to these previously covered assets will now be recognized entirely by Great Southern Bank since the FDIC will no longer be sharing in such gains or losses. Accordingly, the Company's future earnings will be positively impacted to the extent the Company recognizes gains on any sales or recoveries in excess of the carrying value of such assets. Similarly, the Company's future earnings will be negatively impacted to the extent the Company recognizes expenses, losses or charge-offs related to such assets. At June 9, 2017, the Company has discounts related to the loan pools totaling approximately $14M which are available to absorb charge-offs. Any future charge-offs exceeding that aggregate amount would impact the Company's allowance for loan losses. This agreement terminates the last outstanding loss sharing agreements related to the Bank's four FDIC-assisted acquisitions from 2009 through 2012. In April 2016, the Company executed an agreement with the FDIC to terminate loss sharing agreements related to the FDIC-assisted acquisitions of TeamBank, Vantus Bank and Sun Security Bank. More information about that agreement can be found in the Company's Form 10-Q for the quarter ended March 31, 2016.

15:30 EDT XBiotech trading resumes

15:06 EDT XBiotech announces discontinuation of Phase 3 study for colorectal cancer - XBiotech announced that an Independent Data Monitoring Committee has performed its second prospectively planned, unblinded analysis of the Phase 3 XCITE study for the Company's novel candidate antibody therapy for the treatment of colorectal cancer. The IDMC had no safety concerns from the unblinded analysis. However, the committee recommended the early termination of the study since the findings were not sufficient to meet efficacy or the threshold for continuation, which involved a prospectively defined acceptance boundary for the interim analysis of less than or equal to p = 0.08. John Simard, XBiotech President & CEO stated, "We are obviously disappointed with these findings. In the coming weeks, the Company plans to analyze the data extensively to further understand the primary and secondary endpoint data, as well as to identify populations that may have benefited from the therapy. These findings today will not affect our efforts to pursue approval of the therapy based on the successful completion of the European study, which demonstrated control of debilitating symptoms in colorectal cancer."

14:29 EDT Ally Financial jumps after analyst sees favorable risk/reward - Shares of diversified financial services company Ally Financial (ALLY) are outperforming broad market measures after a Piper Jaffray analyst sees solid risk vs. reward in shares. AUTO HEADWINDS: Shares of Ally, which has a niche in the auto lending business, have been under pressure since late winter when signs of an auto slowdown became evident. In Late March, the company pointed out that several banks, including Ally, are "closely monitoring credit trends and adjusting pricing and/or underwriting," pointing to a "noticeable shift over past few months." Ally added that the auto finance market is "generally exhibiting price and risk discipline." In a note out in March, Morgan Stanley analyst Adam Jonas said the firm believes the decline in used car values may happen sooner than most analysts see, however the downturn "could also prove to be far more severe." Used car prices are a critical component to the algorithm of new car pricing as consumers will be likely to opt for a good value in a used car than pay a premium for a new one. According to a report from NADA, a division of JD Power, prices for used vehicles reversed what is typical of February as "used vehicles up to eight years old fell substantially last month, dropping 1.6% compared to January." The decline is in stark contrast to the 1% increase that was expected. With its first quarter results Ally reiterated its auto trepidation when it said, "We posted solid profitability in the first quarter, but it fell short of our expectations of delivering strong year-over-year earnings growth given softer used vehicle values and higher insurance weather losses." RECENT POSITIVE COMMENTARY: Last week, speaking at the Bernstein Strategic Decisions Conference, Ally CEO Jeffrey Brown said the company was capped in auto and was pursuing more opportunities in the consumer side. Brown also noted that as far a subprime loans, a big concern to the industry lately, Ally is doing income verification for 65% of subprime auto loans. Brown noted that used car price decline are factored into model, while adding that the company was on a "powerful path." SUBPRIME PULLBACK: Shares of Ally rallied on this past Wednesday after Experian said it appears that the auto industry is "policing" itself on subprime originations. Auto loan originations in the subprime category have dropped significantly in the first quarter according to the Experian report. According to Experian, loans for borrowers with subprime and deep subprime credit ratings fell to a 10 year low in the quarter. In total, auto-loan originations in the subprime and deep subprime categories were down 8.6% in Q1. FAVORABLE RISK REWARD: In a note out earlier, Piper Jaffray analyst Kevin Barker said "the risk-reward of owning ALLY at current prices is heavily weighted to the upside." Barker, who placed an Overweight rating and $25 price target, on Ally shares explained that the upgrade was due in part to the fact that Ally's prospects are improving due to the fact that auto makers are starting to "make adjustments s to the current dynamics in the market, the unemployment rate is at 4.3% and auto loans are relatively short in duration." Piper sees Ally to begin reporting "incrementally better trends in the next few quarters at which time the stock should re-rate closer to regional banks." PRICE ACTION: Shares of Ally are up almost 3% to $19.60 per share in afternoon trading.

14:13 EDT Waddell & Reed reports AUM of $80.9B as of May 31, 2017 - Waddell & Reed reported preliminary assets under management of $80.9B for the month ended May 31, 2017, compared to $81.1B on March 31, 2017. The company had outflows of $1.4B during the month of April and $500M during the month of May, which were offset by positive market action in both months. Outflows in the unaffiliated retail channel in May were at their lowest levels since April 2014. Assets under management were $81.5B on June 8, an increase of 0.5% quarter to date.

13:13 EDT Box Office Battle: 'Wonder Woman' expected to hold off 'The Mummy' - Time Warner's (TWX) Warner Bros. new comic book flick "Wonder Woman," directed by Patty Jenkins and starring Gal Gadot as the titular superheroine, is expected to remain atop the box office in its second weekend of release. The film is projected to earn an additional $54M after a $100M opening weekend, which was the largest opening for a female-directed movie. Opening this weekend, and expected to finish second, is Comcast (CMCSA, CMCSK) subsidiary Universal's "The Mummy," which stars Tom Cruise, and is actually not a remake or continuation of the Brendan Fraser "Mummy" movies from 1999-2008. The action movie, which cost $125M to make, is expected to earn $25M-$28M domestically. DreamWorks Animation's "Captain Underpants: The First Epic Movie," the animated film based off the popular children's book series, is expected to earn about $14M in its second weekend at theaters. In its third weekend at theaters is Johnny Depp led "Pirates of the Caribbean: Dead Men Tell No Tales," the fifth film in the "Pirates" franchise from Disney (DIS), which is expected to earn around an additional $10M this weekend. Other publicly traded companies in filmmaking include 21st Century Fox (FOX, FOXA), Lionsgate (LGF.A, LGF.B), Sony (SNE), and Viacom (VIA, VIAB).

13:09 EDT Glencore submits proposal to acquire Rio Tinto's Coal & Allied Industries - Glencore (GLNCY) announced it has submitted a proposal to acquire Rio Tinto's (RIO) 100% interest in Coal & Allied Industries for $2.55B cash plus a coal price linked royalty, with the cash comprising $2.05B cash payable on completion and $500M in aggregate deferred cash payments, payable as annual instalments of $100M over five years following completion. A subsidiary of Mitsubishi Corporation has a tag-along right to sell its 32.4% interest in the Hunter Valley Operations joint venture. Glencore has agreed to purchase Mitsubishi's 32.4% interest in the HVO JV and 28.898% interest in the Warkworth joint venture for $920M cash conditional on completion of Glencore's acquisition of C&A from Rio Tinto, with $520M being payable on completion and $100M payable on the first four anniversaries of completion. The Glencore Proposal will be funded from existing cash resources and committed facilities and is subject only to regulatory conditions. Glencore will only be bound once a binding share purchase agreement is concluded with Rio Tinto. If a transaction is concluded, Glencore intends to mitigate its overall financial commitment via a sale / monetization of assets, prioritizing its coal portfolio, of no less than $1.5B, including exploring the option of selling down up to 50% of its interest in the C&A mines. "In any event, as part of our overall Group financial policy, in addition to targeting maximum 2x Net debt/Adjusted EBITDA through the cycle, Glencore's balance sheet will be managed to prevent net debt increasing above December 2016's level of $15.5B, thereby ensuring that our leverage target is comfortably met and financial conservatism maintained," Glencore stated.

13:01 EDT Waddell & Reed trading halted, news pending

12:52 EDT Citron's Left, asked if currently short Nvidia, responds 'oh yeah' - Citron Research's Andrew Left is being interviewed on CNBC regarding his earlier report, which called Nvidia a "casino stock" and predicted the shares will slide back to $130 per share. Shares of Nvidia, which were higher in early trading, are down about 3.8% to $153.98 as Left speaks on the business news network.

12:35 EDT T. Rowe Price reports 13.1% passive stake in Valvoline

12:14 EDT Before the Move: Watch video game stocks ahead of E3 - Shares of video game stocks are in focus ahead of the upcoming Electronic Entertainment Expo, or E3, convention starting this weekend. Investors and analysts will be looking at major upcoming releases from big sector players as well as any new game announcements at the event. EA 'STAR WARS' PUSH: Electronic Arts (EA) will be the first major game maker to host a press conference, with its presentation scheduled to begin tomorrow at 3:00 pm ET. The company already confirmed in a blog post that it will showcase eight games at its presentation, including its usual sports titles as well as "Star Wars Battlefront II," which EA plans to highlight through showing a live multiplayer match for the game featuring multiple YouTube "influencers." Ahead of the event, Piper Jaffray analyst Michael Olson reiterated an Overweight rating and $119 price target on the stock, saying that "Star Wars Battlefront II" is expected to be a "more fleshed out" version of its predecessor, which Olson notes was criticized for a lack of game modes. Credit Suisse analyst Stephen Ju added that he expects the single player content for "Battlefront II" to open the door for potential upside versus his firm's current 13.8M unit volume estimate. Ju noted that the incremental million units should add 7c to EPS for fiscal 2018. Shares of EA are up over 45% year to date. ACTIVISION STICKS TO ITS GUNS: After skipping the show floor at last year's E3, Activision Blizzard's (ATVI) Activision unit said in a blog post that it plans to showcase "Call of Duty: WWII," "Destiny 2," and "Crash Bandicoot N. Sane Trilogy" at E3 this year. All three of these titles were already announced previously, and Credit Suisse's Ju said his firm doesn't see much in the way of surprises for Activision. Ju noted, however, that in the case of "Destiny 2," he will be paying closer attention to the "greater accessibility of the underlying storyline to drive gameplay as well as engagement." Piper's Olson, on the other hand, expects most investors to focus on the new "Call of Duty" title, which he says will face easier comps than the last two releases in the franchise. The Piper analyst reiterated an Overweight rating and $60 price target on the stock. Shares of Activision Blizzard have advanced over 67% year to date. NO SURPRISES SEEN FOR TAKE-TWO: Take-Two Interactive (TTWO) will not be hosting a press event at E3, though the company already made waves several weeks ago after it delayed the release of the highly-anticipated "Red Dead Redemption 2," which is now expected to launch in Spring of 2018 after originally being slated for Fall of this year. Piper's Olson, who backed an Overweight rating and $83 price target on the stock, said that he doesn't anticipate the company will use E3 as a venue to announce any new games and will probably use its floor space at the event for meetings. Credit Suisse's Ju said that, given the delay of "Red Dead 2," he does not expect any further updates on the game of any kind and expects that the only playable games on the floor from Take-Two will be the latest iterations of "NBA 2K" and "WWE 2K." Shares of Take-Two are up over 61% year to date. HARDWARE: On the hardware side, Microsoft (MSFT) is expected to unveil the name, price, and release date for Project Scorpio during its E3 briefing this Sunday, according to media. Project Scorpio will be "the most powerful console ever," according to Microsoft, with 6 Teraflops of graphical processing power, "true" 4K gaming, and compatibility with Xbox One games and accessories. Sony (SNE), whose PlayStation 4 Pro currently stands as one of the most powerful gaming consoles on the market, will hold its press conference on Monday night. In addition, jumping off the recent success of its latest Switch console, Nintendo (NTDOY), which hasn't done major stage shows at E3 in recent years, said it will provide a closer look at its upcoming "Super Mario Odyssey" game for the Switch as well as other games coming this year to its newest console, which launched on March 3. PRICE ACTION: Ahead of E3, shares of EA, Activision Blizzard, and Take-Two are marginally higher in midday trading. OTHERS TO WATCH: Shares of retailers GameStop (GME) and Best Buy (BBY) are up 2% and about flat, respectively, at midday. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

12:07 EDT Gottlieb seen getting tough on opioids, starting with Endo's Opana - Shares of Endo International (ENDP) are dropping after the FDA requested that the company remove its opioid pain medication, reformulated Opana ER, from the market based on its concern that the benefits of the drug may no longer outweigh its risks. BACKGROUND: The request marks the first time the agency has taken steps to remove a currently marketed opioid pain medication from sale due to the public health consequences of abuse. Shortly after being appointed FDA commissioner, Scott Gottlieb said in a blog post his "highest initial priority" was to increase efforts to stem the opioid epidemic. The FDA's decision is based on a review of available postmarketing data, which demonstrated a significant shift in the route of abuse of Opana ER from nasal to injection, following the product's reformulation. Endo said it is reviewing the request and is evaluating the full range of potential options to determine the appropriate path forward. 'ANOTHER SETBACK': Stifel Analyst Annabel Samimy downgraded Endo to Hold from Buy and cut her price target to $15 from $22 saying Endo's recovery "just got harder" following the FDA's request. The analyst said Opana ER is not a significant contributor to revenue and a removal would have little impact on margins. She added she is not surprised by the news given the FDA's stance on addressing the opiod epidemic. However, Samimy said its another "hit to sentiment" and exacerbates the difficulty of Endo's recovery. Citi analyst Liav Abraham also said the request is "unsurprising" but views it as another setback for Endo. While the drug "certainly does not constitute a growth product" for Endo, it is "highly profitable," Abraham says. The request implies downside to both earnings and cash flows as the company "struggles to de-lever" following its acquisition of Par, adds Abrahm, who keeps a Neutral rating on Endo with a $14 target. POTENTIAL WINNERS: Deutsche Bank analyst Gregg Gilbert believes Impax (IPXL), which is marketing the only generic of the old Opana ER, could benefit from the FDA's "surprise" request. The analyst does not expect the FDA to take action against other oxymorphone products, including Impax's, as it tends to focus on reformulated versions. Gilbert has a Buy rating on Impax with a $20 price target. Janney Capital analyst Ken Trbovich had similar views, saying the nearly 500,000 Opana prescriptions filled in the last 12-months will switch to products such as Collegium's (COLL) Xtampza and Impax's generic oxymoprhone ER. The news brings "meaningful potential upside" for Collegium, which has already shown through comparative studies that Xtampza has superior abuse-deterrent features, stated Trbovich, who reiterates his Buy rating and $25 fair value estimate on Collegium shares. Additionally, H.C. Wainwright analyst Corey Davis said he is more confident in BioDelivery Sciences' (BDSI) ability to grow Belbuca after the request, saying the market, with the help of regulators, will move toward inherently less abused and safer alternatives. Davis keeps a Buy rating on the shares with a $4 price target. PRICE ACTION: Near noon, Endo dropped 14.6% to $11.76, Impax fell 0.5% to $16.58, and BioDelivery Sciences dropped 1.1% to $2.22 while Collegium rose 10% to $11.01 per share.

11:38 EDT Qualcomm bid for NXP Semiconductors faces EU merger probe - The European Commission has opened an in-depth investigation to assess the proposed acquisition of NXP Semiconductors (NXPI) by Qualcomm (QCOM) under the EU Merger Regulation. The Commission has concerns that the transaction could lead to higher prices, less choice and reduced innovation in the semiconductor industry. Commissioner Margrethe Vestager, in charge of competition policy, said: "With this investigation, we want to ensure that consumers will continue to benefit from secure and innovative products at competitive prices." The proposed transaction involves the acquisition of the whole of NXP by Qualcomm and would combine two of the leading players in the semiconductor industry. Reference Link

11:26 EDT Nvidia reverses after Citron says has 'become a casino stock' - Shares of GPU maker Nvidia reversed earlier gains and are now down about 2% after Citron Research said earlier that Nvidia has "become a casino stock. Will trade back to $130 before $180 If you think no comp READ Google whitepaper." Shares of the GPU maker had traded up to $168.50 earlier today but have reversed and are now down almost 2% at $157 per share.

11:20 EDT Boeing commends USTR for winning WTO compliance ruling - Boeing (BA) said it commended the Office of the U.S. Trade Representative, USTR, for achieving another significant win in the long-running dispute between the United States and the European Union over aerospace subsidies. The World Trade Organization confirmed that the United States has complied with virtually all of the WTO's decision in the counter-case the EU filed against the United States in 2006. The EU and Airbus (EADSY) claimed in this case that Boeing benefitted from tens of billions of dollars of subsidies and focused their arguments on research and development contracts that Boeing received from the National Aeronautics and Space Administration and the Department of Defense. In addition to holding that the U.S. had complied with its prior ruling concerning various U.S. government research and development contracts with Boeing, the WTO today also dismissed EU claims against the investment incentives Boeing received in South Carolina, other older state and local tax incentives, the FAA CLEEN program, and seven of eight tax incentives from Washington State.

11:10 EDT Senseonics trades up after Roche Finance, New Enterprise stakes disclosed - Shares of Senseonics, a medical technology company designs, develops, and commercializes glucose monitoring systems for people with diabetes primarily in Europe, are trading higher after Roche Finance and New Enterprise stakes disclosed stakes of 23.62% and 28.2% respectively, earlier today. Shares of Senseonics are off their highs but still up around 4% to $1.47 in morning trading.

10:50 EDT Roche Finance reports 23.62% stake in Senseonics - Earlier, in a regulatory filing, Roche Finance disclosed the purchased the shares that it beneficially owns to hold as an investment. Roche Finance currently has no plans to dispose of any shares or to acquire additional shares, but reserve the right to dispose of or acquire additional shares from time to time. Given Roche Finance's status as a significant stockholder, representatives of the Roche Finance may, from time to time, engage in discussions with Senseonics regarding the Senseonics 's corporate strategy and general business activities.

10:10 EDT Tesaro down 9% after notice of J&J suspending enrollment in niraparib study

09:50 EDT Cellect Biotechnology moving to trade exclusively on NASDAQ - Cellect Biotechnology announced that, as previously disclosed, the company is voluntarily delisting its shares from trading on the Israeli Exchange and moving to trade American Depositary Shares, each of which represents 20 ordinary shares, exclusively on NASDAQ. The last trading day on TASE will be on September 3, 2017. The decision to delist from the Tel Aviv exchange was taken as the company's board of directors and management believe it will maximize shareholders' value in the medium and long term. The company urges all holders of ordinary shares to convert their ordinary shares into American Depositary Shares through their banks and brokers and will bear the bank and brokers fees for all shareholders who convert their ordinary shares on or before July 31. Holders of the company's ordinary shares are encouraged to contact their banks or brokers with any questions about the conversion process.

09:26 EDT Banro CFO David Langille steps down, Michael Hankin Li named Interim CFO - Banro Corporation announces that David Langille has stepped down from his role as CFO of the company. The board has appointed Michael Hankin Li as Banro's Interim CFO, and will conduct a search for a new CFO. Langille is assisting in the transition to Li.

09:04 EDT Pandora announces Ticketfly sale, investment from Sirius XM - Pandora (P) announced two transactions at the conclusion of the strategic review the company disclosed on May 8. The company secured an agreement from SiriusXM (SIRI) to make a $480M investment in the company and announced its sale of Ticketfly to Eventbrite for $200M. "In combination, these transactions arm the company with a strong balance sheet, sharpen operational focus, and strengthen the company's board of directors," the company said. Eventbrite will acquire Pandora's Ticketfly business for $200M, funded through a combination of $150M cash and a $50M note payable to Pandora. In connection with the closing, Pandora and Eventbrite expect to enter into a commercial agreement that allows Pandora to substantially broaden the scale of its ticketing opportunities. Pandora expects to close the Ticketfly transaction in the Q3.

08:55 EDT Teva announces exclusive launch of generic Pataday in the U.S. - Teva Pharmaceutical announced the launch of generic Pataday 0.2%, in the U.S. Olopatadine hydrochloride ophthalmic solution 0.2% is a mast cell stabilizer indicated for the treatment of ocular itching associated with allergic conjunctivitis. Pataday had annual sales of approximately $303M in the U.S., according to IMS data as of March.

08:47 EDT CBRE Group to acquire majority stake of Caledon Capital Management - CBRE Group announced that it has entered into a definitive agreement to acquire a majority interest in Caledon Capital Management, a Toronto-based investment management business specializing in private infrastructure and private equity investments. Upon closing, Caledon will be renamed CBRE Caledon Capital Management and will operate as a separate business unit under CBRE's independently operated investment management subsidiary, CBRE Global Investors. "The Caledon management team comes with deep and successful experience in infrastructure and private equity investing. Prior to Caledon, most of the management team previously worked for Canadian pension plans that are leaders in infrastructure and private equity investing," the company says. This team will continue to manage the business and will maintain significant long-term ownership. Caledon's team of more than 30 people in Toronto manage approximately $7B of assets for institutional investors through a combination of direct investments, co-investments, secondaries and primary funds. The pending addition of Caledon will complement the suite of investment solutions offered by CBRE Global Investors and its listed equity management arm, CBRE Clarion Securities. Closing is expected to occur later this year and is subject to regulatory approval and other customary closing conditions.

08:41 EDT Eros Now announces strategic partnership with Smartron - Eros Now, owned by Eros International, announced a strategic partnership with Smartron, a Sachin Tendulkar-backed India-based IoT startup, to provide its extensive entertainment repertoire to Smartron smartphone customers. Eros Now will be the exclusive digital OTT service for entertainment content on all Smartron devices. As their preferred partners, Eros Now will provide its vast repository of movies, television shows, music, originals and regional content across multiple languages such as Tamil, Telugu, Malayalam, Bengali, Punjabi and Marathi to all Smartron customers. Eros Now will leverage from Smartron's extensive marketing campaigns and packaging to promote the partnership.

08:36 EDT GAIN Capital announces May retail active OTC accounts 135,070 - Down 0.6% sequentially and flat y/y. Announces May retail OTC trading volume up 18.6% sequentially, down 1.7% y/y. Announces May retail OTC Average Daily Volume up 2.2% sequentially, down 6.9% y/y.

08:33 EDT EverBank reports termination of Federal Reserve consent order - In a regulatory filing, EverBank reported that the Board of Governors of the Federal Reserve System announced that it has terminated its consent order against EverBank Financial related to residential mortgage loan servicing and foreclosure processing. In conjunction with the termination of the company's consent order, the company was required by the FRB to pay a $1.8M civil money penalty for its mortgage servicing deficiencies related to the consent order. EverBank's consent order was terminated by the Officer of the Comptroller of the Currency in January 2016, the company noted.

08:32 EDT Stone Energy announces Rampart Deep Spud, additional workforce reductions - Stone Energy announced that drilling operations on its Rampart Deep Prospect in Mississippi Canyon Block 116 were initiated on June 3, 2017. The Stone generated prospect will be drilled and operated by Deep Gulf Energy III, LLC, and is expected to be tied back to Stone's 100% owned Pompano platform, if successful. The prospect, which targets the Miocene interval, is located nine miles from the Pompano platform and is estimated to take two months to drill. After a sell down of a portion of its position, Stone holds a 40% working interest in the well and received leasehold and other reimbursable costs. Additional working interest owners are Deep Gulf Energy III, LLC with 30% and entities managed by Ridgewood Energy with 30%. Recently, Stone implemented additional workforce reductions in order to better align its employee base with current business needs. We expect this action to result in an approximate 25% decrease in our salaries, general and administrative cash costs for the second half of 2017, translating into an expected quarterly cash SG&A outlay, before capitalization, of approximately $11M to $12M per quarter, excluding non-recurring and non-cash items. We project an overall SG&A reduction of approximately 50% from 2016.

08:25 EDT Sirius XM to make $480M strategic investment in Pandora - SiriusXM (SIRI) and Pandora (P) announced an agreement under which SiriusXM will make a $480M strategic cash investment in Pandora. Under the terms of the agreement, a subsidiary of SiriusXM will purchase an aggregate of $480M in newly issued Series A convertible preferred stock of Pandora. SiriusXM purchased $172.5M of Series A preferred stock upon execution of the agreement and has agreed to purchase the balance of the Series A preferred stock at a second closing. The Series A preferred stock will represent a stake of 19% of Pandora's currently outstanding common stock and a 16% stake on an as-converted basis. The Series A preferred stock is convertible into common stock at a purchase price of $10.50 per share. The conversion price of the Series A preferred stock is approximately a 14.2% premium to Pandora's volume weighted average price for the 20-day period preceding June 9, 2017. The Series A preferred stock will bear a 6% cumulative dividend, payable in cash, accretion of the Series A preferred stock or a combination thereof. Through this agreement, SiriusXM is making a strategic investment in the leading U.S. provider of ad-supported digital radio. With a loyal quarterly audience of nearly 100M listeners in the U.S., Pandora is by far the leading player in the burgeoning digital audio advertising market. The capital provided through the SiriusXM investment will allow Pandora to make targeted investments and capitalize on opportunities to build on its position in the streaming radio business. When the transaction closes, three individuals designated by SiriusXM will be named to the Pandora Board of Directors. One of those individuals will serve as Chairman and SiriusXM designated directors will serve as select Board committee representatives. With these appointments, the Pandora Board will be expanded to consist of nine directors. In connection with the transaction, Pandora agreed with an affiliate of Kohlberg Kravis & Roberts (KKR) to terminate their Investment Agreement announced on May 8, 2017, and pay KKR a termination fee of $22.5M. Pandora is required to redeem the Series A preferred stock on the fifth anniversary of the closing for an amount equal to its liquidation preference plus all accrued and unpaid dividends. Pandora can also redeem the Series A preferred stock at any time after the third anniversary of the closing if the daily volume weighted average price of Pandora's common stock is greater than or equal to 175% of the then applicable conversion price for a period of at least 20 days during a 30 day trading window prior to the notice of redemption. SiriusXM will be subject to certain standstill restrictions, including, among other things, that it will be restricted from acquiring additional securities of Pandora for 18 months. After that period and for so long as a director designated by it is serving on the Board of Directors, SiriusXM has agreed not to acquire more than 31.5% of Pandora's equity securities without the approval of Pandora's Board of Directors. The second closing contemplated by the agreement is subject to customary closing conditions, including antitrust approval, and is expected to close by the fourth quarter. The agreement may be terminated by either party if closing has not occurred by February 1, 2018.

08:22 EDT Sirius XM to make $480M investment in Pandora

08:08 EDT GW Pharmaceuticals treatment of Fragile X syndrome granted orphan status - On June 6, GW Pharmaceuticals' cannabidivarin was granted FDA orphan designation as a treatment of Fragile X syndrome, according to a post to the agency's website. Reference Link

08:06 EDT BioTelemetry reaches 'key milestone' in tender offer for LifeWatch AG - BioTelemetry announced that during the main offer period which ended on June 8, the preliminary results show shareholders have tendered 15,161,925 shares of LifeWatch AG, representing approximately 82% of the total shares outstanding. Earlier, BioTelemetry published the provisional notice of the interim results. BioTelemetry will address whether the relevant Offer conditions have been satisfied or waived in the definitive notice of the interim results per the conditions of section B.9. of the Offer Prospectus found on both companies' websites. The definitive notice of the interim results is expected to be published on June 14, 2017.

08:04 EDT Astellas Pharma, Pfizer announce amendment of protocol for PROSPER trial - Astellas Pharma (ALPMY) and Pfizer (PFE) announced the amendment of the protocol for the registrational PROSPER trial, a multi-national, randomized, double-blind, placebo-controlled study evaluating the efficacy and safety of XTANDI in patients with non-metastatic Castration-Resistant Prostate Cancer. The primary endpoint remains the same: metastasis-free survival. The main purpose of the amendment is to revise the plan for the analyses of the primary and several secondary endpoints, which allows for a reduction in the target sample size to approximately 1,440, from 1,560 patients. The companies now anticipate PROSPER top-line results will be disclosed later this year. Previously the expected primary completion date for PROSPER was June 2019.

08:03 EDT Landmark Infrastructure acquires 42 tenant sites for $26.3M - Landmark Infrastructure announced that it has acquired 42 tenant sites located in 19 states from its sponsor, Landmark Dividend, for total consideration of $26.3M. This acquisition is expected to be immediately accretive to the Partnership's distributable cash flow and will be financed with borrowings under its revolving credit facility.

08:01 EDT FLIR Systems announces resignation CFO Amit Singhi - FLIR Systems announced that Amit Singhi, Senior Vice President, Finance and CFO, has resigned effective July 31. Shane Harrison, Senior Vice President, Corporate Development and Strategy, who joined FLIR in 2010, will work closely with Amit in transition and serve as interim CFO from August 1.

07:37 EDT Actinium Pharmaceuticals appoints Sandesh Seth as CEO - Actinium Pharmaceuticals announced that Actinium's board unanimously appointed Sandesh Seth as CEO, effective immediately. Seth will continue his role as Chairman that commenced in October of 2013. In addition, Steve O'Loughlin has been appointed Principal Financial and Accounting Officer as of May 15, 2017.

07:05 EDT TSMC reports May revenue 1.1% from prior year - TSMC announced that on a consolidated basis, revenues for May were approximately NT$72.8B, an increase of 28.0% from April and a decrease of 1.1% from May 2016.

07:02 EDT Encana agrees to sell Piceance natural gas assets - Encana announced that its wholly-owned subsidiary, Encana Oil & Gas, has reached an agreement to sell its Piceance natural gas assets, located in northwestern Colorado, to Denver-based Caerus Oil and Gas. Total cash consideration to Encana under the transaction is $735M. In addition, Encana will reduce its midstream commitments by approximately $430M, on an undiscounted basis, and will market Caerus' production related to the assets. The sale is subject to satisfaction of normal closing conditions, regulatory approvals, closing and other adjustments and is expected to be completed during the third quarter with an effective date of January 1, 2017.

06:56 EDT D.R. Horton announces confidentiality agreement with Forestar Group - D.R. Horton (DHI) announced that it has entered into a confidentiality agreement with Forestar Group (FOR), under which both companies have agreed to exchange information and participate in discussions related to the previously announced D.R. Horton proposal to acquire 75% of the outstanding shares of Forestar common stock for $16.25 per share in cash.

06:43 EDT Deutsche Bank says will not provide information on Trump to lawmakers - In a post on its website, Deutsche Bank responded to U.S. lawmakers' request for information about the company's relationship with President Donald Trump. "Deutsche Bank, like other financial institutions, is not permitted to disclose details related to its customers. This includes information on accounts, loans, or other transactions that individuals may have or may have had with Deutsche Bank and information regarding any internal reviews Deutsche Bank may have conducted with respect to any accounts, loans or other transactions. Similarly, the Bank's dealings with its regulators and other governmental authorities are subject to legal restrictions designed to ensure the confidentiality of the regulatory or legal process and to protect other legal rights and obligations." Reference Link

06:22 EDT Musk says starting of Tesla had nothing to do with making money - Tesla CEO Elon Musk tweeted, "Since big car companies were killing their EV programs, the only chance was to create an EV company, even tho it was almost certain to fail...Nothing to do w govt incentives or making money. Thought 90% prob of losing it all (almost did many times), but it was the only chance."

06:10 EDT DLR CEO says combination expected to generate operating, financial benefits - "This strategic and complementary transaction significantly enhances Digital Realty's ability to support the growth of hyper-scale users in the top U.S. data center metro areas, while providing meaningful customer and geographic diversification for DuPont Fabros," said A. William Stein, Digital Realty's (DLR) CEO. "The combination is expected to generate both operating and financial benefits, and I'd like to congratulate Scott Peterson, Mark Walker and their team on successfully negotiating the largest transaction in our company's history, a combination that we believe will enhance our ability to create significant long-term value for both sets of shareholders." Christopher Eldredge, DuPont Fabros' (DFT) president and CEO said, "We are excited to deliver this compelling transaction to our shareholders and execute upon two of the strategic objectives embodied in our corporate vision - diversifying our customer base and expanding our geographic presence. As part of Digital Realty, our shareholders will continue to realize the benefits of our high-quality portfolio, with the added benefits of belonging to an even greater data center network with a truly global footprint and a well-diversified customer base. We also believe our shareholders will greatly benefit from Digital Realty's investment grade balance sheet and more attractive cost of capital. We look forward to working closely with the Digital Realty team over the coming months to close the transaction and bring our two companies together."

06:05 EDT Digital Realty to acquire DuPont Fabros in all-stock deal valued at about $7.6B - Digital Realty (DLR) and DuPont Fabros (DFT) announced they have entered into a definitive agreement under which DuPont Fabros will merge with Digital Realty in an all-stock transaction. The consummation of the transaction is subject to customary closing conditions, including approval by the shareholders of Digital Realty and DuPont Fabros. Under the terms of the agreement, DuPont Fabros shareholders will receive a fixed exchange ratio of 0.545 Digital Realty shares per DuPont Fabros share, for a transaction valued at approximately $7.6B in enterprise value. The two companies' operating models are highly complementary, and the combined organization is expected to provide the most comprehensive product offering in the data center sector. Given the enhanced size and scale, the combined company is also expected to have the most efficient cost structure and the highest EBITDA margin of any U.S.-based publicly-traded data center REIT. The combination of the two companies is expected to create an opportunity to realize up to $18M of annualized overhead savings, resulting from both companies' complementary business operations. Upon closing, the transaction is expected to be immediately accretive to financial metrics, and is expected to further improve balance sheet strength. The fixed exchange ratio represents a total enterprise value of approximately $7.6B, including $1.6B of assumed debt and excluding transaction costs. Digital Realty has obtained a fully committed bridge loan facility from BofA Merrill Lynch and Citigroup which will be available, if needed, to finance the transaction. The debt assumed in the transaction is expected to be permanently refinanced with a combination of investment grade corporate bonds and other financings. The transaction has been unanimously approved by the boards of directors of both Digital Realty and DuPont Fabros. The transaction is expected to close in the second half of 2017 and is subject to the approval of DuPont Fabros and Digital Realty shareholders and other customary closing conditions.

06:01 EDT Musk started Tesla when GM put electric cars in junkyard - Tesla CEO Elon Musk tweeted, "Few people know that we started Tesla when GM forcibly recalled all electric cars from customers in 2003 & then crushed them in a junkyard."

05:57 EDT SoftBank to acquire Boston Dynamics from Alphabet, terms not disclosed - SoftBank (SFTBY) announced a subsidiary of SoftBank has entered into a definitive agreement to acquire robotics pioneer Boston Dynamics from Alphabet (GOOGL, GOOG). The transaction aligns with SoftBank's investments in paradigm-shifting technologies and its vision of catalyzing the next wave of smart robotics. The terms of the transaction were not disclosed. As part of the transaction with Alphabet, SoftBank has also agreed to acquire Japanese bipedal robotics company Schaft. Founded in 2012 in the JSK Robotics Laboratory at the University of Tokyo, the company has continued its pioneering work under the leadership of co-founders Yuto Nakanishi, Junichi Urata, Narito Suzuki and Koichi Nishiwaki. The transaction is subject to customary closing conditions and regulatory approvals.

05:30 EDT Syngenta to divest sugar beet seeds business to DLF Seeds, terms not disclosed - Syngenta and DLF Seeds announced that they have entered into a sale agreement in relation to the acquisition of Syngenta's global Sugar Beet seeds business by DLF Seeds. The transaction is subject to customary approval requirements and expected to close by the end of Q3. Financial terms of the transaction are not disclosed.

05:26 EDT Amazon.com announces new fulfillment center in North Haven, CT - Amazon announced plans for a new 855,000-square-foot fulfillment center in North Haven, CT. The new site will create more than 1,500 new, full-time jobs with opportunities for employees to engage with advanced robotics. The company currently has facilities in Wallingford and Windsor. Amazon employees at the North Haven fulfillment center will pick, pack and ship customer items such as electronics, books and toys. The facility will feature innovative technology such as Amazon Robotics that will assist employees in fulfilling customer orders.