Stockwinners Market Radar for June 15, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:19 EDT Scorpio Tankers completes acquisition of four LR1 tankers - Scorpio Tankers announced that it has completed the acquisition of four LR1 tankers from Navig8 Product Tankers. On May 23 the Company announced that it had entered into an agreement to acquire the LR1 Vessels as part of the definitive agreements to merge with NPTI. To acquire the LR1 Vessels the Company paid $42.2M in cash consideration and assumed debt of $113.8M. The cash is expected to be used by NPTI for general corporate purposes, including working capital, and any remaining cash at the closing of the Merger will form part of the balance sheet of the combined company. The closing of the Merger is subject to the completion of certain customary conditions

18:11 EDT Finisar says Chinese OEMs have been about 20% of revenue, now less - The company expects China OEM business will continue to be challenging. Says China OEM business is now in the low-teens.

18:07 EDT Williams CEO acquires 15,000 common shares - In a regulatory filing, Williams Companies president and CEO Alan S. Armstrong disclosed the acquisition of 15,000 common shares of the company at an average price of $28.60 per share. The transaction brings Armstrong's total direct common stock ownership to 345,527 shares.

18:01 EDT Celanese announces ethyl acetate price increase in Asia - Celanese Corporation will increase list and off-list selling prices for the following acetyl intermediate product in the Asia region. The price increase to $50 per metric ton of ethyl acetate will be effective immediately or as contracts otherwise allow, and are incremental to any previously announced increases.

17:51 EDT MedEquities Realty Trust executes agreement to acquire real property for $10M - MedEquities Realty Trust announced it has executed a definitive agreement to acquire the real property comprising Woodlake at Tolland Nursing & Rehabilitation Center, a skilled nursing facility, from a wholly owned subsidiary of Prospect Medical Holdings, for an aggregate cash purchase price of $10M. The Company will lease this facility to Prospect ECHN Eldercare Services pursuant to a 12-year triple-net lease at an initial lease rate of 9.0% with annual escalators. Prospect Medical Holdings and Prospect ECHN will also provide a guaranty for the lease. The transaction is expected to close within 60 days, subject to closing conditions and Connecticut regulatory approval.

17:32 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Finisar (FNSR), up 8.4%. ALSO HIGHER: Hornbeck Offshore (HOS), up 15.2% after it refinanced its existing $200M senior secured revolving credit facility with a new first-lien delayed-draw credit facility providing for up to $300M of term loans... Lumentum (LITE) and Oclaro (OCLR), up 1.1% and 2%, respectively, after rival Finisar reported quarterly results. LOWER: Booz Allen (BAH), down 14.3% after it disclosed that the U.S. Department of Justice was conducting a civil and criminal investigation into the company relating to "certain elements of the company's cost accounting and indirect cost charging practices with the U.S. government."

17:30 EDT Houston American Energy announces near term completion plans in Reeves County - Houston American Energy provided an update with respect to the status of its drilling operations and its near term completion plans in Reeves County, Texas. The company's Johnson State #1H well reached total depth and casing has been cemented in place. Hydraulic fracturing in the Lower Wolfcamp A Zone is scheduled to begin June 19. With completion of drilling operations on the Johnson State #1H well, the rig moved to our second drill site on the O'Brien tract, approximately 3 miles north of the Johnson tract. The O'Brien #3H well, which was spud on June 10 is currently drilling ahead and is expected to reach total depth in early July. Hydraulic fracturing of this well is scheduled for early August. In order to optimize the length of the planned horizontal leg and expected recoveries from the western half of the section, our operator has negotiated a pooling agreement with the owner of an adjoining block of acreage and contributed a portion of our O'Brien tract to the contract area.

17:27 EDT Finisar says Q2 not a 'big revenue quarter,' sees 'shipping a lot of stuff' - Says "will be nothing compared to quarters after that."

17:22 EDT Land's End CEO acquires 10,000 common shares - In a regulatory filing, Lands' End president and CEO Jerome Griffith disclosed the acquisition of 10,000 common shares of the company at an average price of $16.2475 per share. The transaction, dated June 13, 2017, brings Griffith's total direct common stock ownership to 61,717 shares.

17:19 EDT Finisar sees revenue growth resuming in Q2 - Sees Q2 growth driven by sales growth of 100-gigabit QSFP28 transceivers for the big hyperscale data centers and sales of VCSEL arrays for 3D sensing. The company added: "We have made really good progress with our high-powered VCSEL array program. We have received production purchase orders and expect to soon receive customer approval to ship meaningful ones in our second fiscal quarter. In addition, in the second quarter, we expect our 100-gigabit, 200-gigabit coherent CFP2 ACO transceiver and our ROADM line card tobe fully qualified by a key OEM customer who supplies to the Verizon Metro upgrade. We are currently qualified at multiple other customers for our CFP2 ACO, entering the qualification process with a number of additional new customers."

17:11 EDT Finisar says sales of 100-gig QSFP tranceivers for datacom up 30% Q/Q - Comments from company earnings conference call.

17:07 EDT Highpower International names Leo Liao CTO - Highpower International announced that on June 12, 2017, the position of Wen Liang Li was changed from Vice President and Chief Technology Officer to Senior New Energy Scientist, and the position of Wen Wei Ma was changed from Vice President of Manufacturing to Senior Manufacturing Equipment Specialist. Leo Liao was appointed as Chief Technology Officer of Highpower, effective immediately. Liao has served as an engineer, R&D Manager, Chief Engineer and Deputy General Manager of Shenzhen Highpower since he joined Highpower in 2003, and most recently, he served as the Head of the company's Research institute and Shenzhen Highpower's General Manager. Liao received his Master and BA degrees in Central South University. Following the change, Wen Liang Li and Wen Wei Ma will not take any management responsibilities. Wen Liang Li will remain as a member of the technology team and remain as a board member of the Company. He will work as a Senior New Energy Scientist to provide guidance and support on the technology front and participate in major R&D projects. In addition, Wen Wei Ma, who was mainly in charge of equipment department in the past, will serve as a Senior Manufacturing Equipment Specialist.

17:02 EDT General Finance Corp to promote Jody Miller to CEO effective January 1, 2018 - General Finance Corporation announced that effective January 1, 2018, Jody Miller will become President and CEO of the company. He will be assuming responsibility for global operations, with Ronald F. Valenta becoming the company's Executive Chairman of the Board of Directors, primarily focused on strategy and growth. Miller will also join the Board of Directors later in the year, restoring the Company's board to seven members. He had initially been with the Company as a consultant for two years, overseeing two of the Company's subsidiaries. In July 2015, Miller was promoted to Executive Vice President of the Company and CEO of GFN North America Leasing Corporation, and then last year as President of the Company.

17:01 EDT Copa Holdings reports May system-wide passenger traffic up 11.8% y/y - Copa Holdings released preliminary passenger traffic statistics for May 2017. For the month of May 2017, Copa Holdings' system-wide passenger traffic increased 11.8% year over year, while capacity increased 6.3%. As a result, system load factor for the month was 81.6%, a 4.0 percentage point increase when compared to May 2016.

16:46 EDT Cisco Chief Accounting Officer Prat Bhatt adopts 10b5-1 trading plan - On June 9, Prat Bhatt, Senior Vice President, Corporate Controller and Chief Accounting Officer of Cisco Systems, adopted a pre-arranged stock trading plan to sell up to 79,865 shares of Cisco stock acquired upon vesting of restricted stock units and through purchases made pursuant to Cisco's employee stock purchase plan. The plan is scheduled to terminate in December 2017.

16:42 EDT PolyMet Mining names Patrick Keenan CFO - PolyMet Mining Corp. announced the appointment of Patrick Keenan as Chief Financial Officer of PolyMet effective June 15, 2017. Keenan succeeds Douglas Newby, who has served as CFO for nearly twelve years through a period of great transition and progress for the company. Newby will continue to advise the company as President of Proteus Capital focusing on project finance and strategy.

16:35 EDT Gabelli raises Mocon stake to 14.73% from 10.40%

16:34 EDT AMD selected by DOE's Exascale Computing Project - AMD announced that it has been selected by the Department of Energy's Exascale Computing Project, ECP, to accelerate critical computing technology research for the development of the nation's first exascale supercomputers. The new three-year PathForward program provides funding for research and development to drive critical advances of next-generation supercomputing hardware technologies. PathForward differs from previous exascale research efforts in that it puts even greater emphasis on co-design to foster innovation, encouraging close collaboration between AMD and other program participants. The PathForward program will address the four key technical challenges of exascale computing: parallelism, memory and storage, reliability, and energy consumption. AMD will work on CPU and GPU microarchitecture, memory systems, component integration, and high-speed interconnects. AMD's work for PathForward will emphasize an open, standards-based approach to heterogeneous computing to improve the performance, power-efficiency, and ease of use for exascale systems. "We are honored to be among the select few companies chosen by the U.S. Department of Energy to provide necessary research supporting the development of the advance technologies required for exascale supercomputers," said Alan Lee, corporate vice president for research and advanced development, AMD. "We have been working on exascale research for five years now, and PathForward will take our work to a new level, focusing on system-level technology integration with partners. We are well prepared for this initiative, as evidenced by our high-performance technologies development along with long-standing participation in standards bodies." The ECP seeks to address the nation's most pressing scientific challenges by advancing simulation-based scientific discoveries made possible by the world's highest performing exascale supercomputers. The technologies developed as part of this initiative could also positively impact low-power embedded, cloud/datacenter, and high-performance computing applications for diverse fields ranging from medical science to astrophysics and climate modeling.

16:30 EDT Estee Lauder invests in DECIEM, terms not disclosed - The Estee Lauder Companies announced that it has invested in DECIEM, a fast-growing, vertically integrated multi-brand company, driven by a consumer-centric focus that is already impacting the world of beauty. Terms of the investment were not disclosed.

16:25 EDT Kosta N. Kartsotis cuts Fossil Group stake to 7.8% from 9.1%

16:18 EDT Two Harbors declares quarterly dividend of 26c per share - Two Harbors Investment declared a quarterly dividend of 26c per share of common stock for the second quarter of 2017. This dividend is payable on July 27, 2017 to common stockholders of record at the close of business on June 30, 2017.

16:13 EDT TICC Capital announces receipt of co-investment exemptive relief - TICC Capital (TICC) announced that on June 14, the Securities and Exchange Commission issued an order permitting TICC and certain of its affiliates, including Oxford Lane Capital (OXLC) and Oxford Bridge to complete negotiated co-investment transactions in portfolio companies, subject to certain conditions. Subject to satisfaction of certain conditions to the Order, the Companies are now permitted, together with any future business development companies, registered closed-end funds and certain private funds, each of whose investment adviser is TICC's investment adviser or an investment adviser controlling, controlled by, or under common control with TICC's investment adviser, to co-invest in negotiated investment opportunities where doing so would otherwise be prohibited under the Investment Company Act of 1940, as amended, providing TICC's shareholders with access to a broader array of investment opportunities.

16:11 EDT II-VI introduces 600 watt direct diode laser engine - II-VI Incorporated announced that its DirectProcess 900, a direct diode laser engine, is now available with 600 Watt continuous output power, in a smaller form factor and with new network interfaces.

16:10 EDT Oxford Immunotec announces favorable claim construction ruling - Oxford Immunotec Global announced a favorable Markman claim construction ruling by Judge Gorton of the U.S. District Court for the District of Massachusetts in the Company's patent infringement lawsuit against Qiagen, Inc., Quest Diagnostics, Inc., and Laboratory Corporation of America Holdings. In his ruling, Judge Gorton rejected all of the defendants' proposed constructions and construed the claims as proposed by Oxford Immunotec.

16:08 EDT Kilroy Realty names Steve Rosetta chief investment officer - Kilroy Realty announced that it has appointed Steve Rosetta as executive VP and chief investment officer. Rosetta will be responsible for overseeing the company's strategic growth, including acquisition and disposition activities, with a specific focus on the company's development opportunities and large office and life science transactions. Rosetta joins Kilroy Realty from Cushman & Wakefield where he most recently served as a Vice Chairman and was a member of the Global Advisory Board.

16:05 EDT SMECO picks ICF International for $18M energy efficiency contract - Southern Maryland Electric Cooperative, or SMECO, has selected ICF for a new contract to design and deliver its residential and commercial energy efficiency portfolio. The contract, which was awarded in the first quarter, is valued at $18M and has a term of three years. ICF has delivered SMECO's energy efficiency portfolio for the past nine years, providing strategic advisory and implementation services and helping the cooperative plan for the next generation of demand side management programs. Over this period, SMECO has garnered multiple JD Power customer satisfaction and ENERGY STAR awards for its programs. ICF's Southern Maryland-based team will continue to serve as a trusted advisor to SMECO as it works to achieve increasingly aggressive statewide energy efficiency goals by motivating customers across multiple communities to engage in energy-saving behaviors. The Maryland Public Service Commission is expected to approve the cooperative's 2018-20 program filings in December.

16:02 EDT Analog Devices announces senior exec team after Linear combo - Analog Devices announced the new senior leadership team for the combined company with Linear Technology, which takes effect immediately. Rick Hess, Executive Vice President of Analog Devices, has been named a Strategic Advisor reporting to CEO Vincent Roche. Rick joined ADI in 2014 with the acquisition of Hittite Microwave Corporation, playing a critical role in the company's integration. In the role of Strategic Advisor, Rick will leverage his experience to continue guiding the ongoing integration of Linear Technology, which ADI acquired in March. Three new business groups and leaders were also announced today: Greg Henderson was promoted to Senior Vice President - Automotive, Communications, and Aerospace & Defense. Greg previously served as Vice President of Analog's RF and Microwave business; Yusuf Jamal was promoted to Senior Vice President - Industrial, Healthcare, Consumer, and IoT Solutions and Security. Yusuf was previously Vice President - Consumer and Healthcare business at ADI; former Linear Technology executive Steve Pietkiewicz has been promoted to Senior Vice President - Power Products. Steve will lead this new business group focused on developing ADI's power strategy and will take a lead role in the integration of LTC's and ADI's power portfolio within ADI's larger suite of high performance analog and mixed signal products and solutions.

15:57 EDT Mead Johnson trading resumes

15:00 EDT Adamis Pharmaceuticals up 22% after resuming trading

14:45 EDT Harley-Davidson jumps to high of day, up 1.5%

14:43 EDT Atlantic American Corp CFO John Sample to retire - Atlantic American Corporation has announced that John G. Sample, Jr., will retire as the company's SVP, CFO and Secretary, as of July 31. In connection with his retirement, Sample will step down from all other officer and director positions with the company but will remain an employee of the company and will provide certain transition-related and other services to the company through June 30, 2021, in exchange for which he will be entitled to receive $275,000 annually from the Company, and continuation of health, welfare and other benefits for such period. In connection therewith, the Company has also agreed to repurchase from Mr. Sample 78,300 shares of the Company's common stock at a per share price equal to the average closing price for such stock during a specified period preceding the date of his retirement. The company is commencing a search for a new CFO.

14:36 EDT Mylan down 3% after Adamis epinephrine syringe approval - Adamis' (ADMP) pre-filled single dose syringe of epinephrine will compete with Mylan's (MYL) EpiPen.

14:33 EDT Teck Resources sees Q2 steelmaking coal sales of 6.8M-7M tonnes - Teck Resources provided guidance for expected realized steelmaking coal price and an update on volumes for the second quarter of 2017. Steelmaking coal sales volumes for the second quarter are expected to be between 6.8 and 7 million tonnes, with final quarterly sales depending on timing of shipments. The second quarter price for steelmaking coal sold under quarterly contract has been established based on an average of three assessments, which results in pricing of approximately $190 per tonne. This index pricing mechanism will apply effective April 1 and for future quarters. Teck now expects its second quarter average realized coal price to be between $160-$165 per tonne. "The differential between the quarterly benchmark price and our average realized price for the second quarter is larger than usual. After steel mills filled their prompt requirements immediately following the Queensland cyclone, there were very few prime hard coking coal spot sales during the four week period from mid-April," the company said.

14:24 EDT Toys R Us CEO says Star Wars sales 'very soft' in Q1 - Toys R Us said on its Q1 earnings conference call that sales of Star Wars were "very soft" in Q1, according to Bloomberg. Hasbro (HAS) shares came off the day's highs and are now only up 47c to $109.78.

14:23 EDT Teck Resources trading halted, news pending

14:21 EDT Antero Midstream GP sees FY17 distributions per share of 15c-17c - Antero Midstream GP (AMGP) announced its 2017 distribution guidance of 15c-17c for the year ended December 31, 2017. AMGP's forecast distributions per share correspond to Antero Midstream Partners' (AM) 2017 annual distribution growth guidance of 28% to 30%, as provided on February 6, the company noted.

14:03 EDT Novartis reports FDA accepts ANDA submission for Advair Diskus generic - Sandoz, a division of the Novartis Group, announced that the U.S. Food and Drug Administration has accepted its Abbreviated New Drug Application for fluticasone propionate / salmeterol combination product, a substitutable generic version of Advair Diskus.

13:58 EDT Natus Medical CEO acquires 4,000 common shares - In a regulatory filing, Natus Medical president and CEO James B. Hawkins disclosed the purchase of 4,000 common shares of the company at an averge price of $33.975 per share. The transaction, dated June 15, 2017, brings Hawkins' total direct common stock ownership to 578,023 shares.

13:43 EDT Allergan CEO says drug pricing currently very complex, 'perhaps unnecessarily' - Allergan CEO Brent Saunders is being interviewed on CNBC.

13:29 EDT National Fuel increases dividend to 41.5c from 40.5c per share - National Fuel announced that its board of directors approved a 2.5% increase in the dividend on the company's common stock, raising the quarterly rate from 40.5c to 41.5c per share for an annual rate of $1.66 per share. This dividend is payable July 14 to shareholders of record at the close of business on June 30.

13:16 EDT MiMedx reports publication of clinical review of dHACM allografts in orthopedics - MiMedx announced that the latest peer-reviewed scientific and clinical review article of the MiMedx dehydrated human amnion/chorion membrane allografts has been electronically published in the journal "Techniques In Orthopaedics." Chairman and CEO Parker H. Petit stated, "The outcomes that physicians have reported they are achieving when utilizing our dHACM allografts in orthopedic procedures are very impressive. We wanted to support those clinical outcomes with a comprehensive scientific and clinical review of orthopedic applications using dHACM."

13:09 EDT Baird, Loop bullish on GameStop after E3 console announcements - GameStop (GME) shares are in focus following announcements from major video game and video game console makers at this year's Electronic Entertainment Expo, or E3. The game retailer, whose stock is down nearly 16% year-to-date, has faced headwinds in recent years due to the shift to digital game downloads, yet analysts from Baird and Loop Capital have maintained bullish views on the shares following several announcements from console makers this week. WHAT'S NOTABLE: On GameStop's most recent quarterly conference call in late May, the company backed its fiscal 2017 new hardware sales view of unchanged to up slightly year-over-year. The retailer said at the time that it "set records" with the Nintendo (NTDOY) Switch launch and that it expects second quarter results to be driven by demand for the Japanese game maker's new console. NEW XBOX A POSITIVE: Baird Analyst Colin Sebastian maintained an Outperform rating and $24 price target on GameStop in his ongoing coverage of gaming stocks during E3 this week, noting that Microsoft's (MSFT) unveiling of its new console, the Xbox One X, is potentially positive for the retailer, as new console launches tend to drive higher-margin trade-in volumes. The analyst noted that, compared to Sony's (SNE) PS4 Pro, the Xbox One X has similar processing speed but greater graphics capabilities. FURTHER SWITCH ADOPTION: Following Ubisoft's presentation on Monday, during which the French game maker unveiled "Mario + Rabids Kingdom Battle" for the Nintendo Switch, Sebastian said that the game, which is slated for an August 29 release, could provide another "must-have" attach title for the console, which is a potential positive for GameStop. After Nintendo's presentation the next day, the Baird analyst also said that the company's new game announcements would be positive for the retailer, noting that the upcoming "Super Mario Odyssey" launch in October will provide a "third tent pole" Switch title alongside "Zelda" and "Mario Kart." Sebastian added that Nintendo's announcement of upcoming "Kirby," "Yoshi," and "Metroid Prime" titles for the Switch should drive continued adoption of the console, which is also a positive for GameStop. LOOP LIKES GAMESTOP DESPITE "LUKEWARM" E3: Meanwhile, following the near close of E3's events, Loop Capital analyst Anthony Chukumba kept a Buy rating and $28 price target on GameStop, "given current valuation levels." Still, the analyst said his firm has "decidedly mixed feelings" after the conference, saying that he was happy to hear about the growing lineup of Nintendo Switch titles, but was "nonplussed" by the Xbox One X, which he views as "evolutionary" and not "revolutionary." Chukumba added he doesn't expect the new Xbox console to drive significant incremental volume. PRICE ACTION: GameStop shares are down 1.76% to $21.25 in afternoon trading. OTHERS TO WATCH: Shares of Best Buy (BBY), another major game retailer, slipped about 2.1% in the afternoon. In addition, game makers Electronic Arts (EA), Activision Blizzard (ATVI), and Take-Two (TTWO) are all marginally higher in afternoon trading.

12:32 EDT Broadcasters jump after court says FCC can revive station ownwership rule - Shares of broadcast companies jumped this afternoon after a U.S appeals court rejected a request to block the FCC rule change that would make M&A in the space easier. UHF DISCOUNT: In late March, broadcasters rallied on news that FCC Chairman Ajit Pai signaled that the agency was moving toward a vote that could reinstate the so-called UHF discount. The UHF discount, which was instituted by President Ronald Reagan's FCC in the mid-1980s and then rolled back during the Obama Administration, gave station owners the lenience of not having to fully count UHF stations in calculating their share because in theory UHF stations provided less coverage than their VHF counterparts. This conclusion was reached because UHF frequencies have coverage limitations. DISCOUNT SIDELINED: In early June, a federal appeals court issued a stay to the FCC's earlier decision to restore the UHF discount, which has allowed major media companies to exceed limitations on the number of stations that they can own. June's put a major roadblock on Sinclair Broadcast Group's (SBGI) pending $3.9B acquisition of Tribune Media (TRCO). At the time, Stephens analyst Kyle Evans noted that the ruling to block the UHF discount may jeopardize the deal. PRICE ACTION: Shares of Tribune Media are up 5.6% to $41.24, while shares of its suitor Sinclair are up 3.1% to $35.95. OTHERS: Other broadcasters trading higher include Nexstar Media Group (NXST), E.W. Scripps (SSP), Tegna (TGNA) and Gray Television (GTN).

12:12 EDT Alkermes CEO says preparing NDA now for ALKS 5461 - Richard Pops, while speaking at Goldman Sachs' healthcare conference, said Alkermes is working now on the new drug application for major depressive disorder treatment ALKS 5461. The FDA meeting on the filing is in July, Pops stated.

12:03 EDT Nestle to explore strategic options for U.S. confectionery business - Nestle will explore strategic options for its US confectionery business, including a potential sale. The review covers the US market only and is expected to be completed by the end of this year.Nestle's US confectionery business had sales of around CHF 900M in 2016. It primarily includes popular local chocolate brands such as Butterfinger, BabyRuth, 100Grand, SkinnyCow, Raisinets, Chunky, OhHenry! and SnoCaps, as well as local sugar brands such as SweeTarts, LaffyTaffy, Nerds, FunDip, PixyStix, Gobstopper, BottleCaps, Spree and Runts. It also comprises the international chocolate brand Crunch. The strategic review does not cover Nestle's Toll House baking products, a strategic growth brand which the company will continue to develop in the US market. Nestle remains fully committed to growing its leading international confectionery activities around the world, particularly its global brand KitKat. Nestle's global confectionery sales amounted to CHF 8.8B in 2016.

11:52 EDT Hain Celestial receives waiver and extension of credit facility - Hain Celestial announced it has received a waiver and extension of certain obligations under its unsecured credit facility from its lenders until June 22. This relates to the delivery of certain financial information under the credit facility, including the company's audited financial statements for its fiscal year 2016 and financial statements for the first, second and third quarters of fiscal year 2017. "This waiver and extension of the credit facility supports the extension granted by the Nasdaq Hearings Panel to the Company to file its periodic reports with the Securities and Exchange Commission and regain Nasdaq listing compliance by June 30, 2017," Hain said.

11:31 EDT Siemens says FDA clears Magnetom Vida 3T MRI systems from Siemens Healthineers - The FDA has cleared the MAGNETOM Vida 3 Teslamagnetic resonance imaging scanner from Siemens Healthineers, which features new BioMatrix technology that addresses inherent anatomical and physiological differences among patients, as well as user variability.

11:09 EDT Facebook videos related to Comey had 89M views on June 8 - Facebook said in a statement that videos related to the June 8 testimony of former FBI Director James Comey received 89M views by the end of that day. Reference Link

11:04 EDT Boeing reports no new orders in weekly update - Boeing reported no new orders in the weekly update posted on its website. Year to date information: 737 net orders: 72 NG and 93 MAX; 777 net orders: 9 777 and 0 777X.

11:02 EDT United Airlines names Linda Jojo as Chief Digital Officer

11:01 EDT United Airlines names Brett Hart as Chief Administrative Officer

10:59 EDT One FANG loses a bull with Canaccord downgrade of Google - The overall outlook for the large technology stocks known as FANG -Facebook (FB), Amazon (AMZN), Netflix (NFLX), and Alphabet's Google (GOOG, GOOGL) - remains positive, according to Canaccord Genuity analyst Michael Graham. However, the analyst downgraded Google to Hold from Buy, citing his belief that gross margin estimates for the company are too high, while it will have difficulty maintaining the growth rates it has delivered over the last two years. FANG FUNDAMENTALS SOLID BUT OUTPERFORMANCE MAY BE HARDER: All four of the key growth drivers for the FANG stocks - digital advertising, digital video, e-commerce, and cloud services - remain intact, wrote Michael Grapham in a note to investors today. Moreover, only 12 large cap tech stocks are expected to grow above 15% in 2018, and four of those are the FANG stocks, the analyst stated. "There are few growth alternatives" to FANG within tech, the analyst stated. However, he says that FANG's stock charts indicate that "a lot of good news is already priced into the shares," and he thinks that it will be harder for them to outperform going forward. GOOGLE DOWNGRADE: Much of Google's growth over the past two years has been due to increased ad loads on mobile search and YouTube, and that phenomenon is unlikely to occur again, according to Graham. Additionally, the consensus estimates for Google's gross margins appear to be too high, "limiting the potential" for increases to earnings per share estimates for the company, the analyst stated. Finally, Google's valuation is expensive by historical standards, the analyst contends, with the shares nearing his $1,000 per share price target. WHEN TO BUY: Facebook and Netflix are the top two FANG stocks for this year, as the social network should beat consensus estimates due to Instagram's contribution and Netflix's subscription totals should be good, Graham believes. For 2018, Netflix is his top pick, as he thinks that the company's subscriber totals will continue to be positive catalysts. For 2019 and beyond, Graham recommends Amazon, as he expects the company to launch two or three more major businesses in the next five to ten years. RATINGS, TARGETS: Graham raised his price target on Amazon to $1,200 from $1,150 and kept a Buy rating on the shares. He increased his price target on Netflix to $175 from $165 and kept a Buy rating on the shares. The analyst kept a $175 price target on Facebook and maintained a $1,000 price target on Google. PRICE ACTION: In morning trading, Facebook fell 2.3% to $147, Amazon slid 2.3% to $954, Netflix gave back 2.5% to $148, and Google dropped 2.6% to $942.50.

10:51 EDT One FANG losses a bull with Canaccord downgrade of Google - The overall outlook for the large technology stocks known as FANG -Facebook (FB), Amazon (AMZN), Netflix (NFLX), and Alphabet's Google (GOOG, GOOGL) - remains positive, according to Canaccord Genuity analyst Michael Graham. However, the analyst downgraded Google to Hold from Buy, citing his belief that gross margin estimates for the company are too high, while it will have difficulty maintaining the growth rates it has delivered over the last two years. FANG FUNDAMENTALS SOLID BUT OUTPERFORMANCE MAY BE HARDER: All four of the key growth drivers for the FANG stocks - digital advertising, digital video, e-commerce, and cloud services - remain intact, wrote Michael Grapham in a note to investors today. Moreover, only 12 large cap tech stocks are expected to grow above 15% in 2018, and four of those are the FANG stocks, the analyst stated. "There are few growth alternatives" to FANG within tech, the analyst stated. However, he says that FANG's stock charts indicate that "a lot of good news is already priced into the shares," and he thinks that it will be harder for them to outperform going forward. GOOGLE DOWNGRADE: Much of Google's growth over the past two years has been due to increased ad loads on mobile search and YouTube, and that phenomenon is unlikely to occur again, according to Graham. Additionally, the consensus estimates for Google's gross margins appear to be too high, "limiting the potential" for increases to earnings per share estimates for the company, the analyst stated. Finally, Google's valuation is expensive by historical standards, the analyst contends, with the shares nearing his $1,000 per share price target. WHEN TO BUY: Facebook and Netflix are the top two FANG stocks for this year, as the social network should beat consensus estimates due to Instagram's contribution and Netflix's subscription totals should be good, Graham believes. For 2018, Netflix is his top pick, as he thinks that the company's subscriber totals will continue to be positive catalysts. For 2019 and beyond, Graham recommends Amazon, as he expects the company to launch two or three more major businesses in the next five to ten years. RATINGS, TARGETS: Graham raised his price target on Amazon to $1,200 from $1,150 and kept a Buy rating on the shares. He increased his price target on Netflix to $175 from $165 and kept a Buy rating on the shares. The analyst kept a $175 price target on Facebook and maintained a $1,000 price target on Google. PRICE ACTION: In morning trading, Facebook fell 2.3% to $147, Amazon slid 2.3% to $954, Netflix gave back 2.5% to $148, and Google dropped 2.6% to $942.50.

10:48 EDT MasTec: May get back to $500M level in revenue for Electric Transmission in 2018 - Says still proving themselves in Electric Transmission.

10:42 EDT MasTec says taking conservative view on margins for oil & gas - Says the potential is there, but margins may come down "a little bit."

10:38 EDT MasTec see communications margins improving with higher utilization levels

10:34 EDT Kroger says expects industry to get more competitive

10:25 EDT MasTec says small cells will be big driver in communications business - Comments from MasTec at Stifel 2017 Industrials Conference.

10:07 EDT Verizon sees $500M pretax charge in Q2 from Yahoo closing - On June 13, Verizon closed its acquisition of Yahoo!'s operating business. In connection with the transaction, Verizon expects to record severance, acquisition and integration related expenses of approximately $500M pre-tax in the second quarter of 2017. Verizon expects to realize over $1B in cumulative operating expense synergies from the transaction through 2020.

10:05 EDT Time Inc. launches The Pretty social video brand - Time Inc. announced that it has launched THE PRETTY, a social video brand for a millennial and Gen Z audience hungry for beauty content. Time says, "The brand combines how-tos, hacks, product information and humor. Launching with its own Facebook and Instagram channels, THE PRETTY will leverage Time Inc.'s beauty portfolio, including HELLOGIGGLES, PEOPLE, INSTYLE, REAL SIMPLE, ESSENCE, PEOPLESTYLE and PEOPLE EN ESPANOL, and its audience of more than 50 million fans and followers on social media. L'Oreal Paris and Maybelline New York are THE PRETTY's exclusive launch sponsors."

10:04 EDT The Weather Company announces launch of first cognitive ads for auto industry - The Weather Company, an IBM Business (IBM), announced the launch of the first cognitive ads for the auto industry. Toyota (TM) and The Weather Company have teamed up on a new Watson Ads experience to introduce the Prius Prime. Watson Ads for the Prius Prime are available in The Weather Channel App and weather.com.

10:02 EDT Kroger expands recall fo 12oz. packages of Simply Truth macadamia nuts - The Kroger Co. announced it has expanded the recall of its 12 oz. packages of Simple Truth Dry Roasted Macadamia Nuts due to potential Listeria monocytogenes contamination. Listeria monocytogenes is an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems. Although healthy individuals may suffer only short-term symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea, Listeria infection can cause miscarriages and stillbirths among pregnant women. No customer illnesses have been reported to date. Kroger says, "In May, we were informed by the supplier that the macadamia nuts used in this product may have the potential to be contaminated with Listeria monocytogenes. Routine sampling of a different item produced by the supplier for another company revealed positive Listeria monocytogenes results, and a subsequent investigation of the manufacturing environment discovered a contaminated piece of equipment."

09:48 EDT Nike drops after announcing plans to cut 2% of global workforce - Nike (NKE) is in focus this morning after the company announced a new business structure, which involves cutting 2% of its overall workforce. REALIGNMENT: Nike announced a new alignment structure called the Consumer Direct Offense, which includes cutting its global workforce by approximately 2%. "Nike's leadership and organizational changes will streamline and speed up strategic execution," the company said in a statement. As a result of the new alignment, Nike will reduce its styles by 25% and attempt to cut product creation cycle times in half. Nike also said it will create the Nike Direct organization, which will be led by Heidi O'Neill, President of Nike Direct, and Adam Sussman, Chief Digital Officer. WHAT'S NOTABLE: Piper Jaffray analyst Erinn Murphy said earlier this month that she believes Nike's innovation pipeline "has paused" while competition "remains fierce." Nike competes most directly in the space with adidas (ADDYY) and Under Armour (UAA, UA). In April, Nike posted third quarter revenue slightly below consensus expectations and said worldwide futures orders were down 1%, excluding the impact of currency. The shoemaker, however, beat earnings per share estimates for the quarter. Nike is expected to report fourth quarter earnings on June 29. PRICE ACTION: Nike shares are down 2.2% in early trading to $53.48.

09:32 EDT Air Products announces joint venture with Linde North America - Air Products announced it has formed a new joint venture with Linde North America named East Coast Nitrogen and will build a new 1,100 ton per day world-scale air separation unit and industrial gas liquefier in Glenmont, New York. An approximate capital investment of $60M will be made in the new facility which will produce liquid nitrogen, liquid oxygen and liquid argon. The new plant, featuring Air Products' latest technology, will be constructed and operated by Air Products with commercial status targeted for December 2018.

09:27 EDT OPKO Health reports new post-hoc data on Phase 3 growth hormone product study - OPKO Health updated the topline data analysis of the Phase 3, double-blind, placebo-controlled study of its investigational long-acting human growth hormone product hGH-CTP in adults with growth hormone deficiency. In December 2016 OPKO reported that the primary endpoint of change in trunk fat mass from baseline to 26 weeks did not demonstrate a statistical difference between the hGH-CTP treated group and placebo. At the time, one or more outliers were identified that may have affected the outcome on the primary endpoint. Analyses that excluded outliers showed a statistically significant difference between hGH-CTP and placebo on the change in trunk fat mass. Additional analyses that did not exclude outliers showed mixed results. Post-hoc analyses do not carry the same weight of evidence as a pre-specified primary analysis. OPKO has initiated a global Phase 3 trial, utilizing a multi-dose disposable pre-filled pen, to evaluate hGH-CTP in pediatric GHD patients. OPKO also plans to utilize this multi-dose pen for patients who continue in the open label extension phase of the adult Phase 3 and the pediatric Phase 2 GHD studies. In addition, preparation for the pivotal pediatric GHD trial in Japan is progressing and site selection is near completion.

09:25 EDT Syneron Candela announces shareholder approval of acquisition by Apax affiliate - Syneron Medical announced that its shareholders have approved the previously announced definitive agreement under which an affiliate of funds advised by Apax Partners will acquire all of the outstanding shares of Syneron Candela for $11.00 per share in cash in a transaction valued at approximately $397M. 93.3% of the ordinary shares voting at the special shareholder meeting were voted in favor of the Merger Agreement. The acquisition is expected to be completed in mid-July, subject to the satisfaction of the remaining closing conditions.

09:21 EDT PG&E SVP and CNO Ed Halpin to retire at end of 2017 - Edward D. Halpin, Senior Vice President, Generation and Chief Nuclear Officer of Pacific Gas and Electric Company and a 35-year veteran of the energy industry, has notified the company of his intention to retire effective December 31, 2017. The date provides the company with the appropriate time to ensure an effective transition period. He joined PG&E in 2012, and in his current role, oversees all of the utility's power generation assets, including nuclear, natural gas, hydroelectric and renewable sources. He also oversees the decommissioning efforts of Humboldt Bay Power Plant, and serves as the utility's lead contact with the U.S. Nuclear Regulatory Commission.

09:16 EDT Discover says consumer credit fundamentals remain favorable

09:13 EDT Portola down 4% to $35.50 following interim cerdulatinib data

09:12 EDT Portola presents interim data from cerdulatinib Phase 2a study - Portola Pharmaceuticals announced the presentation of interim data from a Phase 2a study evaluating cerdulatinib in patients with relapsed/refractory B-cell malignancies. Cerdulatinib is an investigational oral, dual SYK/JAK kinase inhibitor for the treatment of relapsed/refractory B-cell and other hematological malignancies, specifically in patients who have not responded to prior therapies. The interim results "demonstrated evidence of clinical activity in patients with relapsed/refractory B-cell malignancies, the company said. To date, overall response rates are as follows: 12 out of 18 (67%) partial responses in patients with r/r CLL/SLL; 5 out of 9 partial responses in patients with r/r FL; 1 out of 7 partial responses in patients with other r/r marginal zone lymphoma and Waldenstrom macroglobulinemia. A complete response was seen in the first r/r peripheral T cell lymphoma patient evaluated in the study. Portola said, "Results also showed that cerdulatinib was generally well-tolerated in these heavily pre-treated patients (at target drug levels). However, three patients at 35 mg BID achieved higher than expected drug concentrations and had severe adverse events (SAEs) including two grade 5 infections and one case of grade three pancreatitis. The dose was subsequently reduced to 30 mg BID and a PK monitoring strategy was implemented. This has resulted in an improved PK and safety profile without compromising clinical activity." Additional detail on the interim Phase 2a data will be provided at the upcoming European Hematology Association meeting from June 22-25.

09:11 EDT L3 Technologies receives certification for upgraded AT-802L Longsword avionics - L3 Technologies (LLL) announced that it has received a Supplemental Type Certificate from the Federal Aviation Administration for the updated digital avionics and cockpit for its AT-802L Longsword missionized aircraft. L3's AT-802L Longsword features an enhanced, certified cockpit which includes the Garmin (GRMN) G600 system including dual screen Primary/Multi-Function displays, an air data computer and attitude/heading reference system, a digital intercommunication system, and an L3 next-generation Electronic Standby Instrument System. The AT-802L Longsword is an ISR and light strike platform developed by L3 with aircraft manufacturer Air Tractor. L3 is exhibiting the Longsword platform at the International Paris Air Show as part of its outdoor static display.

09:08 EDT Rent-A-Center reports May Core U.S. SSS down 9.9% - Rent-A-Center announced the following preliminary key operating metrics for its Core U.S. business for May. Core U.S. Same Store Sales were down 9.9%, delinquencies were 6.5% and flat versus prior month, average Monthly Rate of New Agreements were 1.0% favorable versus prior year and co-worker Turnover was 84.1% and 18.8 percentage points favorable versus prior year. "In the Core U.S. segment, May same store sales improved sequentially due to the continued momentum of the strategic initiatives implemented to date, consistent account management execution and the benefit of a stronger calendar. The average monthly rate of new agreements, which is being favorably impacted by the new value proposition and assortment strategy, is growing at a rate faster than expected with the year over year gap improving 480 basis points sequentially. While flat sequentially, the delinquency rate improved to 250 basis points favorable versus the prior year," the company said.

09:05 EDT Discover says sees NIM 'expanding slightly' in 2017 - Comments from William Blair 2017 Growth Stock Conference.

09:04 EDT Nike says to launch Nike+ and SNKRS apps globally over next several months

09:02 EDT Nike: Changes to result in overall reduction of global workforce of approx. 2%

09:00 EDT Mead Johnson trading halted, news dissemination

08:49 EDT MGM Growth increases quarterly dividend 1.9% to 39.5c per share - MGM Growth declared a quarterly cash dividend of 39.5c per Class A common share for Q2. On an annualized basis, this dividend of $1.58 represents an increase of 3c per share per year, a 1.9% increase over the prior annual rate of $1.55. The company also announced that MGM Growth Properties Operating Partnership declared a cash distribution to all unit holders of record on June 30 of 39.5c per unit for Q2. The dividends will be payable on July 14 to unit holders and shareholders of record as of the close of business on June 30, as applicable.

08:41 EDT Tesla free to raise capital again with lockup expiring - Tesla is free to undertake another capital raise with the 90 lockup from its March offering expiring today. Tesla on March 15 filed to sell $250M of common stock and $750M of convertible notes. The electric carmaker on March 17 priced 1,335,878 shares at $262.00. TheStreet's Gregory Morcroft said this morning that another capital raise is a "real possibility given the electric car company's debt situation, partly due to its Solar City investment, and need for additional cash. Any new issuance the company may seek would likely need to take place before July, which is when Tesla issues its quarterly report on car sales. Alternatively, an offering could come in late August after Tesla issues its quarterly financial report." With the market indicated to open lower, shares of Tesla are down in premarket trading 2%, or $6.96, to $373.70.

08:35 EDT Qualcomm gets antitrust clearance from TFTC for NXP Semiconductors acquisition - Qualcomm (QCOM) announced that the Taiwan Fair Trade Commission has given regulatory clearance to the pending acquisition by Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, of NXP Semiconductors (NXPI). The TFTC clearance includes a finding that the main competitors and counterparties of Qualcomm and NXP "all compete globally with their own global supply chains and have no difficulty in providing their products/technology on a worldwide basis," and that "after the closing of the proposed transaction, the impact on the market structure is limited while there are still many strong suppliers to compete with each other." Clearance by the Taiwanese authorities follows similar antitrust clearance of the transaction by the U.S. Federal Trade Commission in April 2017. "We are making good progress in obtaining the needed clearance from regulatory authorities in the relevant jurisdictions, and believe that we continue to be on track to conclude the acquisition by the end of 2017," said Steve Mollenkopf, CEO of Qualcomm.

08:33 EDT BNY Mellon raises prime lending rate to 4.25% from 4.0% - The Bank of New York Mellon will increase its prime lending rate from 4.00% to 4.25%, effective June 15.

08:30 EDT Allstate reports May catastrophe loss estimate $403M - Allstate announced estimated catastrophe losses for the month of May of $403M pre-tax, $262M after-tax. Catastrophe losses occurring in May comprised 14 events at an estimated cost of $392M pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. One severe hail event that occurred on May 8 in the state of Colorado accounted for over half of the catastrophe losses for events in May. Allstate previously announced $235M pre-tax, $153M after-tax, in estimated catastrophe losses for April.

08:16 EDT Ekso Bionics to establish collaboration-led Centers of Robotic Excellence - Ekso Bionics announced a collaboration with four leading rehabilitation facilities to establish Centers of Robotic Excellence to help further advance the use of innovative exoskeleton technology for mobility impaired patients. As early adopters of state-of-the-art exoskeleton technology, the centers have committed to provide peer-to-peer support as reference sites to train other facilities interested in becoming proficient in innovative approaches to rehabilitation. Each center will also work with Ekso Bionics to aid in research and development efforts. The Centers of Excellence will gather clinical evidence and measurable results on rehabilitation with EksoGT and create research protocols for proving standard of care for exoskeletons for rehabilitation.

08:13 EDT State Bank Financial and AloStar Bank sign merger agreement - State Bank Financial and AloStar Bank of Commerce signed a definitive agreement for State Bank to acquire AloStar in an all cash transaction with a purchase price of one times AloStar's adjusted tangible book value as of the last day of the month immediately before closing, currently estimated to be $196M. At March 31, AloStar had total assets of approximately $944M, total loans of approximately $763M, total deposits of approximately $715M, and total shareholders' equity of approximately $193M. AloStar, founded in 2011 through the FDIC-assisted acquisition of Birmingham, Alabama-based Nexity Bank, is headquartered in Birmingham and has a commercial office in Atlanta that houses executive management and the lender finance and asset-based lending team. The transaction is expected to be significantly accretive to 2018 and 2019 EPS and marginally dilutive to tangible book value per share with an earn-back period of less than one and a half years. The agreement has been unanimously approved by the Boards of Directors of both companies and AloStar's shareholders and is anticipated to close in Q4. Completion of the transaction is subject to certain closing conditions, including customary regulatory approvals.

08:12 EDT Inovio fully enrolls 160 subjets in Puerto Rico for second Zika vaccine trial - Inovio Pharmaceuticals announced that it has completed enrollment of its phase 1 clinical trial in Puerto Rico evaluating its Zika vaccine, GLS-5700. Inovio is developing this vaccine with GeneOne Life Science and academic collaborators from the U.S. and Canada. This second phase 1 study was designed to assess safety, tolerability, and immune responses in the setting of potentially ongoing disease transmission.

08:07 EDT TiVo appoints Arvin Patel as chief intellectual property officer - TiVo Corporation (TIVO) announced the appointment of Arvin Patel to the position of executive VP and chief intellectual property officer effective in Q3. Reporting directly to TiVo's president and CEO, Tom Carson, Patel will be responsible for all facets of TiVo's patents and licensing business, including driving growth and integration of TiVo's intellectual property assets in strategic focus areas, such as over-the-top mobile and global expansion. Prior to this role, Patel has held a number of IP leadership positions, most recently, as the chief IP officer at Technicolor (TCLRY). Samir Armaly will remain with TiVo and move into a newly-created role, reporting to the CEO, where he will continue to be responsible for seeing the last remaining Tier 1 renewal through to completion.

08:06 EDT Aimmune to present data on peanut allergy in Europe at EAACI Congress 2017 - Aimmune Therapeutics announced that it will present data during poster sessions on Tuesday, June 20, at the 2017 European Academy of Allergy and Clinical Immunology Congress, taking place June 16-21 in Helsinki. The presentations will report clinical data from the European screening population of the PALISADE Phase 3 trial in Aimmune's AR101 program and observations on current management and use of oral immunotherapy for peanut allergy across Western Europe. AR101 is Aimmune's investigational biologic oral immunotherapy for desensitization of patients with peanut allergy.

08:04 EDT Hologic receives expanded FDA 510(k) clearance to market Cynosure's SculpSure - Hologic (HOLX) announced that the U.S. FDA has granted an expanded clearance for Cynosure's (CYNO) non-invasive body contouring product, SculpSure, to treat the back and inner and outer thighs. The SculpSure treatment is already FDA-cleared for treatment of the abdomen and love handles.

08:03 EDT Kroger sees FY FIFO operating margin ex-fuel down approx. 20-30bps y/y - Kroger says in a regulatory filing, "We expect full-year FIFO operating margin in 2017, excluding fuel, the 2017 adjustment items and the 2016 restructuring of certain multi-employer pension obligations, to decline approximately 20-30 basis points compared to 2016 results. We expect capital investments, excluding mergers, acquisitions and purchases of leased facilities, to be $3.2B-$3.5B. These capital investments include approximately 55 major projects covering new stores, expansions and relocations; 175 major remodels; and other investments including digital, technology, minor remodels, and upgrades to logistics, merchandising systems and infrastructure to support our Customer 1st business strategy." Kroger sees FY supermarket square footage growth of approximately 1.8% before mergers, acquisitions and operational closings and expects the 2017 tax rate to be approximately 35%, excluding the resolution of certain tax items and effects from the 2017 adjustment items. Anticipates product cost, without fuel, to be inflationary in 2017. "In 2017, we expect to contribute approximately $360 million to multi-employer pension funds. Of this amount, $35M has been accrued for as of year-end. This excludes any additional multi-employer restructuring or withdrawal liabilities that could occur. We are currently negotiating agreements with UFCW for store associates in Atlanta, Dallas and Food 4 Less Warehouse Stores. Negotiations this year will be challenging as we must have competitive cost structures in each market while meeting our associates' needs for solid wages and good." Expects 2017 company-sponsored pension expense of approximately $110M.

08:02 EDT Axcelis receives follow on orders for Purion products - Axcelis has received several follow on orders for the Purion H high current and Purion XE high energy systems from leading chip manufacturers across the Asia Pacific Region, including China. These systems will support high volume production of NAND, DRAM, mature logic and image sensor devices to support the growing IoT, mobile and data storage markets. The systems are scheduled to ship in Q2.

08:01 EDT Parexel collaborates with Sanofi to advance use of wearable devices - PAREXEL (PRXL) announced a collaboration with Sanofi (SNY) to advance the use of wearable devices to transform the collection of data in clinical trials. The two companies are jointly leveraging their clinical, scientific, regulatory, logistics and technical expertise, as well as global footprint, to determine how wearables can optimize study performance and accelerate drug development. In particular, the companies are examining how data collected from several wearable devices can be streamlined into a single, scalable data system to provide valuable insights. Currently, PAREXEL and Sanofi are collaborating on a pilot study using PAREXEL's recently launched patient sensor solution to demonstrate the scientific and medical viability of wearables. In an ongoing single-site study, patient data is being collected remotely and simultaneously via multiple wearable devices. Publication of final study results is expected in the near future.

07:59 EDT Hormel Foods sees growing sales to $11.6B in 2020 - Hormel Foods, in slides for its investor day presentation, said it is targeting $11.6B in sales in 2020, up from $9.5B in 2016. The company is also seeking to raise its operating margins into the "top quartile" of its peer group by 2020, from 13.9% in 2016. The company seeks long-term top line growth of 5% and bottom line growth of 10% while maintaining its "dividend aristocrat" membership and continuing share repurchases, the slides state.

07:54 EDT Alaska Air sees Q2 capacity up about 6% - In a regulatory filing, Alaska Air provided guidance for Q2. The company sees Q2 cost per ASM excluding fuel and special items up about 3.5%. Expects consolidated nonoperating expense will be approximately $13M in Q2.

07:50 EDT Kroger reports Q1 identical supermarket sales growth, ex-fuel, of 0.2%

07:48 EDT Kroger backs identical supermarket sales growth, ex-fuel, flat to 1% for 2017 - Kroger continues to expect identical supermarket sales growth, excluding fuel, of flat to 1% growth for 2017. The company continues to expect capital investments excluding mergers, acquisitions and purchases of leased facilities, to be in the $3.2B-$3.5B range for 2017. Over the long term, Kroger is committed to achieving a net earnings per diluted share growth rate of 8% - 11%, plus a growing dividend.

07:36 EDT Selecta Biosciences reports Phase data from SEL-212 in severe gout - Selecta Biosciences announced data from its ongoing Phase 2 trial of SEL-212 being developed for patients with chronic severe gout. Key observations and findings from the 60 patients currently enrolled in this Phase 2 trial include: mitigated anti-drug antibodies after repeat monthly administrations of SEL-212; demonstrated induction of immune tolerance; reduced rate of gout flares with SEL-212; identified minimum effective dose of SEL-212; SEL-212 was generally well tolerated. There have been a total of eight serious adverse events reported in the trial through June 12, 2017. Seven were infusion reactions, four of which occurred in the cohorts receiving pegsiticase alone or the lowest dose of SVP-Rapamycin and two of which were due to dosing errors. One additional SAE, cholecystitis, was determined to not be related to the study drug. All of the SAEs were successfully treated and resolved without further issues. The company is beginning to prepare for a Phase 3 program that it plans to initiate in 2018 following further dialogue with the FDA.

07:32 EDT Skyline Medical announces CE Mark for STREAMWAY System - Skyline Medical announces that its European Authorized Representative, Emergo Europe B.V., has notified the Dutch Competent Authority that the company's STREAMWAY System meets all requirements and can now be affixed with the CE mark and marketed in 32 European countries.

07:30 EDT Alliance Data reports May net charge offs 6.4% vs. 7.4% last month - Reports May delinquency rate 4.9% vs. 4.7% last month.

07:24 EDT Applied Genetic' achromatopsia candidate featured in published preclinical study - Applied Genetic announced the publication of IND-enabling preclinical data demonstrating the safety and efficacy of AGTC-402 in the treatment of achromatopsia due to mutations in the CNGA3 gene. The study appears in the June issue of Human Gene Therapy Clinical Development. The gene-based therapy used in this study, AGTC-402, utilizes AGTC's proprietary AAV technology to deliver a functional copy of the human CNGA3 gene. The study was conducted in 13 sheep with day-blindness due to mutations in the CNGA3 gene. The authors conclude that the study results support the evaluation of AGTC-402 in clinical trials in individuals affected by ACHM due to CNGA3 mutations, and add that study participants should be carefully monitored for possible inflammatory responses.Sue Washer, President and CEO of AGTC, stated, "These data, which were included in our Investigational New Drug application filed with the FDA in October 2016, provide compelling evidence that AGTC-402 has potential as a treatment for achromatopsia due to CNGA3 mutations. We are currently scheduling patients for enrollment in our Phase I/II trial in this patient population, and we continue enrollment in our clinical trial for patients with CNGB3 achromatopsia."

07:13 EDT VBL Therapeutics appoints Dr. Corinne Epperly as U.S. COO - VBL Therapeutics announced the appointment of Corinne Epperly, MD, MPH, as U.S. COO. Dr. Epperly is an oncology expert with industry background in drug development, strategy, commercialization and operations. She will have key responsibilities in forming VBL's marketing strategy and commercialization plan for its Phase 3 candidate VB-111 and will work with VBL's leadership team to advance corporate strategy and U.S. activities. Dr. Epperly joins VBL after seven years at Bristol-Myers Squibb (BMY).

07:08 EDT CytoSorbents directors make open market stock purchases - CytoSorbents directors Edward Jones and Michael Bator, and four members of Executive Management, CEO Phillip Chan, CFO Kathleen Bloch, COO Vincent Capponi, and CMO Eric Mortensen, have purchased an aggregate of 20,000 shares of common stock on the open market between May 15 and June 9 at prices ranging from $3.99 to $4.34 per share.

07:05 EDT Trump says 'they' go for obstruction of justice after 'phony story' - President Trump said via Twitter, "They made up a phony collusion with the Russians story, found zero proof, so now they go for obstruction of justice on the phony story. Nice"

07:03 EDT Ritchie Bros. sees C$72M of equipment in June Edmonton auction - Ritchie Bros. conducted its third Edmonton auction of the year this week, selling 5,500+ equipment items and trucks for C$72M+ over two days, June 13 - 14.

07:02 EDT Michaels announces new share repurchase program up to $500M - The Michaels Companies announced that its board of directors has authorized a new share repurchase program for up to $500M of its common stock. This announcement is in advance of the company's Analyst Day presentation which is scheduled to begin June 15 at 8:30am ET. Shares may be repurchased from time to time on the open market, through block trades or otherwise. The share repurchase program does not have an expiration date, and the timing and number of repurchase transactions under the program will depend on market conditions, corporate considerations, debt agreements, and regulatory requirements.

06:46 EDT Merck's Keytruda granted FDA orphan designation for hepatocellular carcinoma - Merck's Keytruda was granted FDA orphan designation as a treatment for hepatocellular carcinoma, according to a post to the agency's website. Reference Link

06:32 EDT GDS Holdings signs strategic Memorandum of Understanding with Alibaba - GDS Holdings (GDS) has signed a strategic memorandum of understanding with Alibaba (BABA), which recognizes GDS Holdings as preferred vendor of Alibaba Group and provides the framework for integrated cooperation between both parties in the areas of data center and cloud services. Pertaining to the MoU, Alibaba Group will prioritize the procurement of data center resources and related services from GDS Holdings to fulfill its data center deployment needs in China, while GDS Holdings will support Alibaba Group's cloud development plan in China by committing to provide customized resources and services at the highest operational standards according to timely demand.

06:23 EDT Synchrony reports May net charge-off rate 5.18% vs. 5.33% last month - Reports May 30-plus day delinquency rate 2.76% vs. 2.88% last month.

06:20 EDT Capital One reports May net charge-offs 5.23% vs. 5.33% last month - Reports May 30-plus day delinquencies 3.47% vs. 3.51% last month.

06:07 EDT CALC to purchase 50 Boeing 737 MAX series aircraft for $5.8B - China Aircraft Leasing Group Holdings, or CALC, a full value-chain aircraft solutions provider for global airlines, has entered into an aircraft purchase agreement with Boeing (BA) for 50 new 737 MAX series aircraft, with a list price of $5.8B. The aircraft are scheduled for delivery in stages up to 2023. The Group currently owns a fleet of 87 aircraft. With this new order, CALC's outstanding order book now consists of 139 aircraft -- 89 Airbus (EADSY) and 50 Boeing -- putting the company on track to deliver a total of no less than 226 aircraft by 2023.

05:57 EDT Google to launch Backup and Sync for Google Drive on June 28 - Google says in a blog post that it plans to launch its full desktop backup tool, called Backup and Sync, for Google Drive on June 28, available as an app. Reference Link

05:52 EDT Yingli Green Energy announces continued listing plan accepted by NYSE - Yingli Green Energy announced that the New York Stock Exchange has accepted the company's plan for continued listing and has granted the company an 18 month extension until August 9, 2018 to regain compliance with the NYSE's continued listing standards. As a result, Yingli Green Energy's ADSs will continue to be listed and traded on the NYSE, subject to quarterly reviews by the NYSE to monitor the company's progress against its plan to restore compliance with continued listing standards.

05:40 EDT Novartis: Cosentyx data shows sustained improvements in symptoms for active AS - Novartis announced data showing Cosentyx shows sustained improvements in the signs and symptoms for active ankylosing spondylitis, or AS, at 3 years, consistent with previous findings in active psoriatic arthritis, or PsA, at 3 years. New data also show Cosentyx provides rapid and sustained pain relief in patients with active PsA out to 2 years. In the MEASURE 1 extension study, 80% of AS patients consistently achieved an ASAS 20 response at 3 years. This was consistent with previous findings from the FUTURE 1 study in active PsA where Cosentyx demonstrated sustained improvements in the signs and symptoms of disease in approximately 80% of patients at 3 years as measured by ACR 20 response.