Stockwinners Market Radar for August 04, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:55 EDT Lonestar Resources reports Q2 production averaged 5,635 Boe/d - Lonestar reported a 7% sequential increase in net oil and gas production during the three months ended June 30. Net oil and gas production averaged 5,635 Boe/d in the second quarter of 2017 compared to 5,266 Boe/d during three months ended March 31. The company expects to grow production at an accelerated rate during the remainder of 2017 and 2018 as drilling activity accelerates on the company's expanded acreage position.

17:58 EDT pdvWireless announces Notice of Inquiry from FCC - pdvWireless announced that the Federal Communications Commission has issued a Notice of Inquiry related to, among other things, the company's Joint Petition for Rulemaking which seeks to modernize a portion of the 900 MHz band from narrowband to broadband. The company's proposed modernization of the band would allow the spectrum to support advanced technologies and service offerings, thereby providing the company the ability to address the broadband needs of critical infrastructure and private enterprise entities. The FCC indicated that comments related to the NOI must be submitted on or before September 18 and reply comments are due by October 18.

17:31 EDT On The Fly: After Hours Movers - HIGHER: Rockwell Collins (COL), up 8.2% after Reuters reported that United Technologies (UTX) has made an offer to acquire the company... Intel (INTC), up 0.3% after Bloomberg reported that it will supply LTE modems for Apple's (AAPL) next smartwatch, which reportedly will have cellular connection capabilities. LOWER: Golden Ocean (GOGL), down 3.3% after it filed to sell 14.5M shares of common stock for holders... Berkshire Hathaway (BRK.B), down marginally after reporting quarterly results.

17:15 EDT Anson Investments Master Fund reports 9.99% stake in The ONE Group

17:03 EDT Armistice Capital reports 5% passive stake in Actinium Pharmaceuticals

17:02 EDT Berkshire Hathaway reports book value up 6.2% since year-end 2016 - At June 30, 2017, our book value had increased by 6.2% since yearend 2016 to $182,816 per Class A equivalent share. Insurance float at June 30, 2017 was approximately $107B, an increase of approximately $16B since yearend 2016.

16:50 EDT MiMedx files with FDA to initiate IND Phase 3 Achilles Tendonitis study - MiMedx Group announced that the company has filed with the Food and Drug Administration to initiate its Investigational New Drug Phase 3 Achilles Tendonitis clinical study. The Achilles Tendonitis clinical trial will study MiMedx's AmnioFix Injectable in a Phase 3, Prospective, Double Blinded, Randomized Controlled Trial of the Micronized dHACM Injection as Compared to Saline Placebo Injection in the Treatment of Achilles Tendonitis. The company expects patient enrollment to commence in the next few months. The trial will enroll approximately 158 study patients with moderate to severe pain due to Achilles Tendonitis with failed conservative treatment for at least one month. The IND Phase 3 clinical study objective is to determine the safety and effectiveness of AmnioFix Injectable as compared to the 0.9% Sodium Chloride USP placebo injection control for the treatment of moderate to severe pain due to Achilles tendonitis.

16:32 EDT Volaris reports July passenger growth of 7% - During July, Volaris increased total capacity, as measured in Available Seat Miles, by 12.1% year over year. Total demand, as measured in Revenue Passenger Miles, in July increased 9.3% year over year, reaching 1.5B. Volaris transported a total of 1.5M passengers during the month, an increase of 6.6% year over year. Year-to-date, Volaris has transported over 9.5M passengers, an increase of 12.4% year over year. Network load factor for July was 90.1%, a decrease of 2.3 percentage points year over year.

16:21 EDT Integra LifeSciences' director Donald Morel buys 10K shares of company stock - In a regulatory filing out after the close on Friday afternoon, a director of Integra LifeSciences Donald Morel disclosed that he had purchases10,000 shares of company stock at an average price of $49.25 per share on August 3 and August 4. Shares of Integra LifeSciences closed the day at $49.08 per share.

16:14 EDT Travelers completes acquisition of UK-based simply business - The Travelers Companies completed its previously announced acquisition of Simply Business, a leading provider of small business insurance policies in the United Kingdom, offering products online on behalf of a broad panel of carriers. The company has more than 430,000 microbusiness customers, covering more than 1,000 classes of business. "Technology is driving significant change in our industry, and the knowledge, capabilities and talent that Simply Business has developed over more than a decade will contribute meaningfully to advancing our digital and innovation agendas to best serve our customers and the marketplace," said Alan Schnitzer, Chairman and Chief Executive Officer of Travelers. "Simply Business is a growing technology company, and its proven model to enhance the insurance buying experience for microbusiness owners aligns with our efforts to simplify the small commercial insurance transaction and make it more efficient." Simply Business will operate as a stand-alone business, continuing to partner with its panel of carriers under its well-known brand name. Travelers funded the acquisition through a combination of debt financing and internal resources.

16:07 EDT AGCO CFO Andrew Beck sells 10,000 shares of company stock - Andrew Beck, the AGCO CFO, disclosed in a filing on Friday afternoon, that he'd sold 10,000 shares of company stock at an average price of $72.18 on August 4. The total value of the transaction was $721,836. Shares of AGCO closed down fractionally on Friday, ending the week at $71.88 per share.

16:01 EDT J&J Snack Foods to buy back 500,000 common shares - J&J Snack Foods Corp. announced that on August 3, 2017 its board of directors authorized the purchase for retirement of 500,000 shares of its common stock. The company stated that the timing of purchases will depend on market conditions and other factors and that there is not a specific time frame in which it will make the purchases.

15:47 EDT DuPont, Dow Chemical: All conditions for closing of merger satisfied - DuPont (DD) and The Dow Chemical Company (DOW) announced that all required regulatory approvals and clearances have been received, that all conditions to closing of their merger of equals have been satisfied, and that their merger of equals will close after the market closes on August 31. Shares of Dow and DuPont will cease trading at the close of the New York Stock Exchange on August 31. Shares of DowDuPont will begin trading on the NYSE under the stock ticker symbol "DWDP" on September 1. The companies continue to expect the intended spin-offs to occur within 18 months of closing.

15:18 EDT FDA reports on serious adverse events associated with ImprimisRx compunds - The FDA has reported on its investigation and findings after two patients administered infusions of curcumin, a component of the spice turmeric, compounded with polyethylene glycol 40 castor oil reportedly experienced immediate hypersensitivity reactions. The PEG 40 castor oil was a component of a curcumin emulsion product compounded by a pharmacy, ImprimisRx, located in Irvine, California. Hypersensitivity reactions to intravenous products containing polyethylene glycol castor oil have been reported in the literature and are the subject of warnings for a number of FDA-approved drugs, the agency stated. On June 23, 2017, ImprimisRx recalled all unexpired products containing the ungraded PEG 40 castor oil, the FDA noted. "FDA's investigation into the adverse events associated with ImprimisRx's curcumin emulsion product for injection highlights some of the risks associated with compounded drugs, particularly those that use non-pharmaceutical grade components and ingredients lacking a USP monograph," the agency stated. Reference Link

14:54 EDT 'Pharma bro' Shkreli convicted of securities fraud - Martin Shkreli, the previously ousted founder of Retrophin, reviled by some for having raised the price of a potentially life-saving drug by 5,000%, has been convicted of fraud by a New York jury. Shkreli was found guilty of three of the eight counts he faced, including two counts of securities fraud and one count of conspiracy to commit securities fraud.

14:37 EDT Pershing 'disappointed' with ADP release, will nominate minority slate - Pershing Square Capital Management confirmed in a statement that it has acquired an 8% stake in ADP, making it the fund's largest investment. Pershing intends to file a Schedule 13D with the SEC on Monday, August 7. The statement reads: "Pershing Square has long admired ADP's business. Based on extensive research and due diligence, Pershing Square believes that there is an enormous opportunity to improve the operating performance of ADP by accelerating growth, improving the quality of ADP's software and service offerings, dramatically reducing operating costs, and increasing efficiency. On August 1st, Pershing Square approached the company and requested an in-person meeting with the Board to share our research and its conclusions. To facilitate constructive private discussions, we requested an extension of the company's August 10th nominating deadline. Yesterday, at ADP's request, we met with the company's CEO and Chairman. At that meeting, we reiterated our request for an extension to the nominating deadline and discussed the potential additions of several independent directors and a Pershing Square representative to the Board. We also discussed the need for transformational change at the company and expressed a willingness to work with existing management or, alternatively, an external CEO candidate, to effectuate that change. We were disappointed to learn from an ADP press release that the company has denied our request for an extension that could have facilitated constructive discussions. Accordingly, Pershing Square will nominate a minority slate to the Board."

14:28 EDT Restaurant Brands director acquired 5,000 shares today - Restaurant Brands director Ali Hedayat purchased 5,000 shares today at a price of $61.32, according to a regulatory filing. The director now owns 25,966 shares of the company. The stock in afternoon trading is up 3%, or $2.59, to $78.88.

14:26 EDT Wells Fargo raises view of possible legal losses above reserves to $3.3B - In a regulatory filing, Wells Fargo noted that the company establishes accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. The high end of the range of reasonably possible potential losses in excess of the company's accrual for probable and estimable losses was approximately $3.3B as of June 30. "The increase in the high end of the range from March 31, 2017 was due to a variety of matters, including the company's existing mortgage related regulatory investigations...We expanded the time periods of this review to cover the entire consent order period of January 2011 through September 2016, and to perform a voluntary review of accounts from 2009 to 2010. We expect to complete this expanded review process and commence remaining remediation for these additional periods by the end of third quarter 2017. As part of this expanded review process, we also expect to complete the review and validation of the number of potentially unauthorized accounts previously identified by the third-party consulting firm, including refinements to the practices and methodologies previously used to determine such number and to remediate sales practices related matters. We expect that our review of the expanded time periods, which adds over three years to the initial review period of approximately four years, May 2011 to mid-2015, and our review and validation efforts for the initial review period, may lead to a significant increase in the identified number of potentially unauthorized accounts. However, we do not expect any incremental customer remediation costs as a result of these efforts to have a significant financial impact on the company," the company stated in it filing.

14:22 EDT Exact Sciences CEO says 'just don't comment' on takeover speculation - Kevin Conroy, speaking on Bloomberg TV, said he does not comment on speculation when asked if Illumina (ILMN) is interested in acquiring Exact Sciences (EXAS).

13:42 EDT Tracking tag firm Impinj implodes after guidance, large customers delays - Shares of RFID solutions provider Impinj (PI) nose-dived after reporting quarterly earnings and guidance for the current quarter. Following the earnings report, research firm Canaccord lowered its price target. The company describes itself as a leading provider of RAIN RFID solutions. RAIN RFID is a wireless technology that connects billions of everyday items to the internet, enabling businesses and consumers to identify, locate, authenticate, and engage each item. The Impinj platform is made up o both hardware and software and uses RAIN RFID to wirelessly connect everyday items to the internet, delivering digital life to the physical world. The company provides solutions to a broad base of industries including retail, healthcare, and logistics. "Impinj is helping companies around the world increase sales, improve efficiencies, and deliver compelling experiences." Impinj went public on July 21 of 2016 and saw its shares rise about 28% on its first day of trading. EARNINGS: Impinj reported second quarter financial results after the close of trading on Thursday evening. Q2 results were better than analyst expectations beating on both the top and bottom lines. For Q2 the RFID maker reported earnings per share of 6c on revenue of $34.1M. Analysts were modeling 2c for EPS on revenue of $33.51M. The problem with the report was in its tepid current quarter financial guidance and less robust product view for the year. The analyst provided Q3 guidance that was well shy of estimates. The RFID tag maker is now guiding to an EPS loss for the current quarter of between (8c)-(1c) on lower revenue in a range of $31.75M-$33.25M. Analysts were predicting a profit of 8c on revenue of $37.75M. Founder and CEO Chris Diorio noted that the company will be adversely impacted by setbacks "in planned roll out expansions at several large end customers." The slowdown will result in fewer items being tagged with the company's tracking chips. "We are revising our 2017 full-year endpoint IC estimated to be between 7B to 7.2Bunits," said Diorio in a statement. AMAZON DRIVER: Late last year, shares of Impinj rallied after Amazon (AMZN) announced a new retail concept, Amazon Go. Amazon said at the time that its "a new kind of store with no check-out required... In fact, RAIN RFID can improve inventory visibility by more than 25%." Amazon expanded on its new store concept: "With our Just Walk Out Shopping experience, simply use the Amazon Go app to enter the store, take the products you want, and go! No lines, no checkout. Our checkout-free shopping experience is made possible by the same types of technologies used in self-driving cars: computer vision, sensor fusion, and deep learning." ANALYST VIEW: Adding to the selling in Impinj shares on Friday was a price target reduction out of Canaccord. Canaccord's T. Michael Walkley lowered his price target on Impinj to $50 from $57 following Q2 results and lowered guidance. The analyst noted delayed rollouts with a handful of customers in different verticals, including retail and healthcare, and said a single customer could represent several million endpoint IC's. Management maintained its long-term guidance and Walkley said in the note that he expects re-accelerating revenue growth in 2018 and beyond. As a result, Walkley maintained his Buy rating on Impinj shares. PRICE ACTION: Shares of Impinj are near their day lows, trading down over 23% to $36.60 per share in afternoon trading.

13:18 EDT Street Check: BWS sell call looks timely after Applied Optoelectronics plunge - The shares of Applied Optoelectronics (AAOI) are falling after the company's third quarter revenue guidance came in below the consensus outlook. The company blamed the miss on weaker than expected demand for 40G solutions from one of its largest customers. Amazon (AMZN), which was identified by an analyst as Applied Optoelectronics' largest customer in the first quarter of 2017, uses a significant amount of 40G solutions and there has been speculation today that the large customer to which Applied Optoelectronics referred was the e-commerce giant. In a note to investors on July 20, which was published by The Fly on that date, research firm BWS Financial predicted that Applied Optoelectronics would begin losing orders from Amazon and recommended that investors sell shares of the fiber-optic access network products supplier. BWS WARNING: On July 20, BWS analyst Hamed Khorsand noted that Applied Optoelectronics had warned that its 40G business was expected to erode in the second half of this year. Applied's warning came after Fabrinet (FN) stated that it was producing a line of 100G solutions for Amazon.com. Reporting that Amazon accounted for 56% of Applied Optoelectroncis revenue in Q1, BWS' Khorsand continued to recommend selling the stock. NORTHLAND JOINS BWS IN BEAR CAMP: After the company's report last night, Northland Capital downgraded Applied Optoelectronics to Underperform, its equivalent of a sell rating, from Market Perform. The company's Q3 results are being hurt by the high percentage of revenue it obtains from Amazon and by its exposure to older 40G technology, warned Northland analyst Tim Savageaux. Going forward, the company will face "far more" competition in the 100G datacom transceiver market than it did in the 40G space, warned the analyst, who nonetheless increased his price target on the shares to $47 from $43. ANALYST DEFENSES TODAY: The weakness in Applied Optoelectronics' stock will probably prove to be a good buying opportunity, according to Craig-Hallum's Richard Shannon. The company's long-term margin guidance of 35%-41% is favorable, and it is "establishing a strong position in CWDM4 modules," which are generating strong demand and high prices, Shannon stated. Moreover, the company's "strong cost structure" should enable it to gain share if it continues to execute as well as it has for the past year, wrote Shannon, who kept a $95 price target and a Buy rating on the stock. The company's growth should rebound by next quarter, as demand for 100G solutions increases significantly and the company's production of the product accelerates, wrote Needham analyst Alex Henderson. Moreover, the company is working with 14 new customers, and its margins are expected to remain between 41% and 45% as its costs drop, according to Henderson, who kept a $115 price target and a Strong Buy rating on the shares. PRICE ACTION: In afternoon trading, Applied Optoelectronics tumbled 29% to $69.56. Since July 20, the stock is down about 25%.

13:02 EDT Baker Hughes reports U.S. rig count down 4 to 954 rigs - Baker Hughes reports that the U.S. rig count is down 4 rigs from last week to 954, with oil rigs down 1 to 765 and gas rigs down 3 to 189. The U.S. Rig Count is up 490 rigs from last year's count of 464, with oil rigs up 384, gas rigs up 108, and miscellaneous rigs down 2 to 0. The U.S. Offshore Rig Count is down 7 rigs from last week to 17 and unchanged year over year. The Canadian Rig Count is down 3 rigs from last week to 217, with oil rigs down 5 to 124 and gas rigs up 2 to 93. The Canadian Rig Count is up 95 rigs from last year's count of 122, with oil rigs up 64, gas rigs up 33, and miscellaneous rigs down 2 to 0.

12:37 EDT Blue Apron warns of 1,270 employee layoffs in Jersey City facility - A W.A.R.N. notice issued in New Jersey indicates that Blue Apron intends to cut 1,270 employees in its Jersey City facility, with an effective date of October 6, 2017. New Jersey requires employers to provide notice 60 days in advance of covered plant closings and covered mass layoffs, the site explains. Reference Link

12:07 EDT Chemed increases quarterly dividend 7.7% to 28c per share - Chemed announced that the board has declared a quarterly cash dividend of 28c per share on the company's capital stock, payable on September 1 to shareholders of record as of August 14. This is a 2c, or 7.7%, increase over the 26c dividend paid in June. The previous dividend increase was in August 2016, when the Board raised the dividend from 24c to 26c per share.

12:01 EDT Lamar Advertising acquires assets of Steen Outdoor Advertising - Lamar Advertising announced that it has acquired the assets of Steen Outdoor Advertising, significantly enhancing Lamar's position in Philadelphia and the surrounding region. The all-cash acquisition adds more than 460 billboard faces, including 23 digital bulletin faces, to Lamar's existing media footprint in the Northeast. Steen's inventory is concentrated in Philadelphia and the surrounding Pennsylvania suburbs, with coverage extending into western New Jersey and Delaware. Financial terms were not disclosed.

10:55 EDT Analysts highlight positives for both GrubHub and Yelp from new deal - Analysts reacted positively to a deal struck between GrubHub (GRUB) and Yelp (YELP) that was announced yesterday. Under the transaction, GrubHub will buy Yelp's Eat24, an online restaurant ordering service, and Yelp will integrate GrubHub's service into its online listings. Wedbush contended that the deal kills the bear thesis on GrubHub, while Stifel said that investors are failing to adequately appreciate this and GrubHub's other recent agreements. Writing that the Eat24 deal "looks genius," Deutsche Bank raised its price target on Yelp to $45 from $36, and Credit Suisse said that the deal could accelerate Yelp's food ordering business. POSITIVE FOR GRUBHUB: The deal with Yelp enables Grubhub to "vastly expand" its geographic footprint in the U.S. and gives GubHub "an additional sales channel," according to Wedbush analyst Aaron Turner. Estimating that Eat24 is the fourth largest player in the U.S. online food delivery space, Turner wrote that with the addition Grubhub will be able to render the remaining competition "moot," destroying the bear thesis on the stock. Moreover, GrubHub's ability to access Yelp's 185M users represents "a potentially massive opportunity," according to the analyst. Investors are failing to fully appreciate GrubHub's deals, wrote Stifel's John Egbert. GrubHub and Yelp should both benefit from access to each other's audiences, said Egbert, who thinks the transaction, along with other recent acquisitions, should significantly enhance GrubHub's already dominant position in online food ordering. He raised his price target on the shares to $53 from $50 and kept a Buy rating on the stock. DEAL "GENUIS" FOR YELP: The Eat24 deal "looks genius," wrote Deutsche Bank analyst Lloyd Walmsley. By partnering with GrubHub, Yelp will nearly double the number of restaurants on its platform that take orders online, increasing its revenue, Walmsley stated. The deal could increase Yelp's cash flow while eliminating the need for it to develop delivery infrastructure or increase its supply of restaurants, believes the analyst. who raised his price target on Yelp to $45 from $36. Even Roth Capital analyst Darren Aftahi, who previously had a Sell rating on Yelp, said the positives from its newly-announced Grubhub partnership, combined with its share repurchase option, are "too hard to ignore" in the near-term, prompting him to upgrade Yelp to Neutral. EARNINGS: Yelp announced better than expected Q2 results last night, while GrubHub's Q2 results, also announced last night ,were roughly in-line with expectations. PRICE ACTION: In morning trading, GrubHub rose 9% to $52.64 and Yelp soared 27% to $39.91.

10:10 EDT Alexion Phase 1 study of samalizumab suspends recruitment - A Phase 1 study of intravenous samalizumab to determine its maximum tolerated dose, overall safety/tolerability, PK/pharmacodynamic parameters, and efficacy in patients with advanced solid tumors has suspended participant recruitment, according to a post to ClinicalTrials.gov updated on August 3. The sponsor of the trial is Alexion, the post notes. Reference Link

09:39 EDT Elliott reports 6.0% activist stake in NXP Semiconductors - Elliott Associates this morning disclosed owning combined economic exposure of 6.0% of NXP Semiconductors' (NXPI) outstanding shares. NXP's securities are "significantly undervalued and represent an attractive investment opportunity," Elliott wrote in a filing with the SEC. The activist fund sees "numerous opportunities to maximize shareholder value" and has engaged in a dialogue with management, the board and other shareholders, including "potential acquirers, service providers and financing sources," relating to NXP's business and pending takeover by Qualcomm (QCOM). NXP in early trading is up 1%, or $1.14, to $111.80. Qualcomm is down 19c to $52.76.

09:22 EDT Calgon Carbon sees FY17 CapEx $65M-$70M - Says company has good reason to expect gross margin improvements in 2H17 and on. Says results reinforce areas that were soft demand in 2016 will become growth drivers in 2017. Expects 2H17 Ballast Water equipment sales flat to up slightly higher in 2H17. Says expects higher North American legacy business sales driven by potable water market and industrial sector. Sees slight improvement in European sales. Sees effective tax rate 34%-35%. Sees FY17 CapEx $65M-$70M. Says more confident in recovery of industrial sector. Says 2017 will be better year than 2016. Comments taken from the Q2 earnings conference call.

09:20 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Yelp (YELP), up 21.8% after reporting quarterly results and announcing it will sell its Eat24 business to Grubhub (GRUB)... AMC Entertainment (AMC), up 2.7%... GoPro (GPRO), up 17.4%... Weight Watchers (WTW), up 17.3%... Etsy (ETSY), up 8.2%... Allscripts (MDRX), up 10.1%. ALSO HIGHER: ADP (ADP), up 2.3% after issuing a statement regarding Pershing Square seeking to change the CEO and acquire five out of ten board seats... Eli Lilly (LLY), up 1.3% after announcing that Lasmiditan met primary and secondary endpoints in SPARTAN Phase 3 study. DOWN AFTER EARNINGS: Applied Optoelectronics (AAOI), down 24.6%... Activision Blizzard (ATVI), down 1.2%... GrubHub is down 2.3% after reporting quarterly results and acquiring Yelp's Eat24 business... Noble Corp (NE), down 5.5%... Viacom (VIA, VIAB), down 8.4%... Carbonite (CARB), down 9.6%.

09:08 EDT Barnes & Noble Education completes acquisition of Student Brands for $58.5M - Barnes & Noble Education has completed the acquisition of Student Brands, a direct-to-student subscription-based writing skills services business, for $58.5M in cash. The company utilized cash on hand and availability under its current credit facility to finance the acquisition. Student Brands is expected to contribute over $10M of EBITDA to BNED's consolidated operation results over the next twelve months. Student Brands has negligible recurring capital expenditures, resulting in strong free cash flow generation. The acquisition will be accretive to BNED's EBITDA, Net Income and Cash Flow in FY2018. Additionally, the acquisition is structured to "step up" the tax basis of Student Brands' assets and is expected to result in significant future tax savings. Student Brands will operate as a part of BNED's digital operations and will serve as its initial anchor asset for BNED's direct-to-student growth strategy. Thomas Swalla will remain CEO of Student Brands and the current Student Brands leadership team will join BNED as full-time employees. Student Brands will retain its offices in Los Angeles, CA and India.

09:03 EDT President Trump calls today's job report 'excellent' - President Trump tweeted, "Excellent Jobs Numbers just released - and I have only just begun. Many job stifling regulations continue to fall. Movement back to USA!"

08:58 EDT Mueller Water sees FY net sales growth in low to mid single digits - Says Q3 results were impacted by substantially higher year-over-year material costs, though net sales growth was "about as we expected." The company expects material costs to continue to rise, but the impact to be less due to productivity improvements and higher market pricing. Sees FY net sales percentage growth in the low to mid single digits. Says end market demand to be "solid" going forward. Adjusted operating income improvement is expected to slightly exceed net sales growth for FY17. Sees FY interest expense $22M-$23M, adjusted tax rate 31%-33%, CapEx $36M-$38M. Expects 2017 free cash flow to approximate adjusted income from continuing operations. Comments from slides that will be presented on the Q3 earnings conference call.

08:41 EDT J Alexanders Holdings trading resumes

08:35 EDT J. Alexander's to acquire 99 Restaurants for $199M - J. Alexander's Holdings (JAX) and Fidelity National Financial (FNFV) announced that J. Alexander's, Fidelity Newport Holdings and Fidelity National Financial Ventures, a direct wholly-owned subsidiary of FNF, have entered into a definitive agreement under which J. Alexander's will acquire 99 Restaurants, in an all-stock transaction valued at approximately $199M, including the assumption of $20M in net debt. The transaction was approved by the board of directors of J. Alexander's and the board of managers at FNH and is expected to close in Q4. FNH is a majority-owned subsidiary of FNFV. At closing, J. Alexander's will acquire ownership of 99 Restaurants via merger whereby 99 Restaurants will become a wholly-owned subsidiary of J. Alexander's Holdings, LLC. In consideration, J. Alexander's will cause to be issued to FNH and FNFV, collectively, a total of 16,272,727 shares of J. Alexander's Class B Common Stock, which will be a newly authorized, non-economic class of stock entitled to one vote per share, and 16,272,727 Class B Units of J. Alexander's Holdings. As a result, immediately following the transactions, FNH and FNFV will own approximately 52.5% of the outstanding shares of capital stock of J. Alexander's. In connection with the transaction, J. Alexander's will amend its charter to redesignate J. Alexander's currently outstanding common stock as Class A Common Stock, which will continue to be traded on the NYSE, and to create the new Class B Common Stock to be issued to FNH and FNFV, which will not be listed for trading. The total number of authorized shares of J. Alexander's common stock will be increased. In addition to the equity consideration described above, $60M of 99 Restaurant's indebtedness will be outstanding at closing, and $40M of such indebtedness will be repaid immediately following the closing with the proceeds of a pre-closing cash contribution to 99 Restaurants by FNFV, resulting in $20M of net debt to be assumed by J. Alexander's in connection with the transactions. The J. Alexander's senior leadership team will continue to manage the combined company following the closing of the transaction. In connection with the transaction, William Foley is expected to join the J. Alexander's board of directors. There are no other expected changes to the J. Alexander's board of directors or its executive officers in connection with the transaction.

08:34 EDT FNFV merging 99 Restaurant & Pub business with J. Alexander's - FNFV (FNFV) has signed a definitive agreement to merge its 99 Restaurant & Pub operations with J. Alexander's Holdings (JAX), in which FNFV's 55% owned Fidelity Newport Holdings will exchange 100% of its ownership interest in 99 for common share equivalents of JAX. 99 will be valued at an enterprise value of $199M and an equity value of $179M. 99 will have $20M of net FNH debt attributed to it that JAX will refinance at closing. Prior to the combination, FNFV will contribute $40M into 99 for equity in return, the proceeds of which will be used to repay FNH debt. Shares of JAX common stock will be valued at $11.00 per share. As a result, JAX will issue a total of approximately 16.27 million common share equivalents to FNH and FNFV. JAX will have approximately 31 million common share equivalents outstanding at closing. FNH will receive approximately 12.636 million shares of JAX common share equivalents and FNFV will receive approximately 3.636 million shares of JAX common share equivalents from its $40M equity investment. William P. Foley, II will join the JAX Board of Directors and it is expected that Lonnie J. Stout II will remain CEO of the combined company. A JAX shareholder vote is necessary and closing is expected in Q4. 99 generated approximately $304M in revenue and $30M in adjusted EBITDA in 2016. On a combined basis for 2016, the two companies generated over $520M in revenue and $54M in adjusted EBITDA.

08:31 EDT Cigna: Strategic objective is to achieve EPS of $16 in 2021

08:29 EDT Eagle Bulk Shipping takes delivery of m/v Madison Eagle - Eagle Bulk Shipping announced that it has taken delivery of the M/V Madison Eagle, the eighth of nine Crown-63 Ultramax dry bulk sister vessels the Company acquired from Greenship Bulk Trust. With the addition of the M/V Madison Eagle, the Eagle Bulk fleet currently consists of 47 vessels on the water, including 10 Ultramax vessels, with one additional vessel to be delivered by the end of September.

08:17 EDT Digiliti Money CEO Jeffrey Mack resigns, CFO Bryan Meier named interim CEO - Digiliti Money announced that Jeffrey Mack has resigned from the board and from his position as president and CEO, effective immediately. Digiliti Money's Executive Vice President and CFO, Bryan Meier, will assume the position of interim CEO, while Mack will serve as a consultant for the company as it continues to grow. Interim CEO Bryan Meier stated that, "In light of the recent management change and our preliminary Q2 results, we will be evaluating the Company's go forward strategy. Our near-term focus will be on our core products, growing our existing customers, and becoming more selective about the opportunities we pursue. In addition, we are reducing our cash burn to improve our bottom line performance, which we are demonstrating with the implementation of our recent cost-cutting initiatives intended to reduce our annual operating expenses by nearly $3M."

08:07 EDT AMC Entertainment: Q2 included Q202.6M pre-tax impairment charge - Included in the net loss for the second quarter of 2017 is a $202.6M pre-tax impairment charge related to AMC's (AMC) investment in National CineMedia, LLC and National CineMedia (NCMI).

07:59 EDT HPE gives details for expected completion of software business spin-off, merger - Hewlett Packard Enterprise announced that its board has set the close of business on August 21, 2017 as the record date for the proposed spin-off of Seattle SpinCo, Inc., which will hold HPE's software business. Subject to the satisfaction of the remaining conditions to the spin-off, on the distribution date for the spin-off, HPE will distribute to HPE stockholders one share of Class A common stock of Seattle for each share of HPE common stock held as of the close of business on the record date. As previously announced, immediately following the spin-off, a wholly owned subsidiary of Micro Focus International plc will merge with and into Seattle, and Seattle will continue as the surviving company and a wholly owned subsidiary of Micro Focus. In the merger, each share of Seattle common stock outstanding immediately prior to the merger will be automatically converted into the right to receive a number of American Depositary Shares of Micro Focus such that immediately following the merger, these newly issued American Depositary Shares will, in the aggregate, represent 50.1% of the Micro Focus ordinary shares on a fully diluted basis. The balance of the then-outstanding Micro Focus ordinary shares will be held by pre-merger shareholders of Micro Focus. The spin-off and the merger are currently expected to occur on September 1, 2017. HPE has been advised by the New York Stock Exchange (the "NYSE") that beginning prior to the spin-off and continuing through the business day immediately preceding the closing date of the merger, there will be two markets in HPE common stock on the NYSE: a "regular way" market and an "ex-distribution" market. During this period of two-way trading in HPE common stock, an HPE stockholder may also sell the Micro Focus American Depositary Shares that will be issued in respect of the shares of Seattle common stock that are distributed in the spin-off.

07:44 EDT Omeros treatment of immunoglobulin A nephropathy granted FDA orphan status - Omeros' treatment of immunoglobulin A nephropathy was granted FDA orphan status, according to a post to the agency's website. Reference Link

07:36 EDT ADP says Pershing Square seeks to change CEO, wants 5 seats on 10-member board - ADP (ADP) issued the following statement regarding ADP's recent communications from Pershing Square Capital Management that Pershing is seeking effective control of ADP through five board seats at ADP's 2017 Annual Meeting as well as a CEO change. "Pershing first contacted ADP on August 1, and William Ackman said it beneficially owns 8% of ADP, largely in derivatives. Ackman requested that ADP extend the August 10 deadline for nomination of directors by 30 to 45 days and said he planned to nominate five directors, including himself, to ADP's ten-member board. He also said CEO Carlos Rodriguez should be replaced. ADP is open to constructive input from our shareholders, and our Board respects the right of shareholders to nominate directors. However, ADP has a clearly defined Board nomination process, and the 2017 deadline for director nominations has been public for nearly a year. The board has unanimously determined that it is not in the best interests of ADP or its other shareholders to accede to Pershing Square's last-minute request for an extension. Since Carlos Rodriguez became CEO nearly six years ago, ADP's total shareholder return of 202% is well in excess of the S&P 500 TSR of 128% -- and is many multiples of Pershing's TSR of 29%. ADP has a strong and independent Board, including four new directors who have joined since 2014: Michael Gregoire, CEO of CA Technologies; Peter Bisson, former global leader of McKinsey's High Tech Practice; William Ready, EVP and COO of PayPal (PYPL); and Sandra Wijnberg, Executive Advisor and former Partner of Aquiline Holdings. These directors have deep expertise in technology, operations and finance and provide important perspective on advancing ADP's global strategy. We believe our current Board has an effective balance of leadership continuity and fresh perspectives that will help us to continue this strong track record of delivering value to shareholders while successfully executing on our 'All in on HCM' strategy."

07:33 EDT ADP says Pershing Square seeks to change CEO, wants 5 seats on 10-member board

07:32 EDT CBOE Holdings backs FY17 adjusted OpEx $415M-$423M - Expects adjusted operating expenses for the year to be at the low end of that range.

07:24 EDT Toyota to make additional investment in Preferred Networks - Toyota Motor and Preferred Networks, Inc. announced they have agreed to an additional Toyota investment in PFN. The investment will amount to Y10.5B, and Toyota will acquire stock in PFN through the allocation of new shares to a third party. "Toyota and PFN have been working on joint research and development since October 2014, and for the purpose of strengthening the relationship, Toyota invested approximately Y1B in PFN in December 2015. To date, the joint research and development has focused on object-recognition technology and analysis technology of vehicle information. This additional investment will further enhance the relationship between Toyota and PFN and spur joint research and development," Toyota stated.

07:19 EDT Toyota backs FY18 vehicle sales forecast, revises financial forecasts - For the fiscal year ending March 31, 2018, TMC has not revised its consolidated vehicle sales forecast from 8.9M units, in consideration of the latest sales trends worldwide. TMC revised its consolidated financial forecasts for the fiscal year. Based on an exchange rate assumption of 110 yen to the U.S. dollar and 124 yen to the euro, TMC now forecasts consolidated net revenue of Y28.5T, operating income of Y1.85T, income before income taxes of Y2.05T, and net income of Y1.75T.

07:05 EDT Onebeacon Insurance reports book value per share of $10.71 - OneBeacon Insurance Group reported book value per share of $10.71, reflecting an increase of 0.1% for the second quarter and 2.9% through the first six months of 2017, including dividends, and reported a combined ratio of 106.9% and 100.9% for the second quarter and the first six months of 2017, respectively.

07:03 EDT Cooper Tire backs guidance, sees operating profit margin at high end of range - "Cooper reaffirms our guidance for full year 2017 operating profit margin to be at the high end of our previously projected 8 to 10 percent range." Management expectations for the full year 2017 include: Raw material costs are forecast to be down sequentially in the third quarter of 2017, and then to stabilize throughout the balance of the year. For the full year 2017, unit volume growth is expected in the International segment and in Latin America. Unit volume in the U.S. is expected to be in line with the industry for the second half of 2017. Full year 2017 consolidated operating margin is expected to be at the high end of the company's previously announced mid-term target of 8 to 10 percent. The International segment is expected to continue to improve profitability relative to 2016, inclusive of the recently acquired majority interest in Qingdao Ge Rui Da Rubber Company. The effective tax rate for full year 2017 is expected to be in a range between 30 percent and 33 percent. Capital expenditures are expected to range between $200 and $220 million for the year.

07:01 EDT Mallinckrodt to acquire InfaCare Pharmaceutical

06:53 EDT Brookfield Renewable 'confident' in goal to deliver 12%-15% annualized returns - Sachin Shah, CEO of Brookfield Renewable said, "Combined with a broadening investible universe and strong growth prospects, we remain confident in our target of delivering 12%-15% total annualized returns to our shareholders."

06:47 EDT Eli Lilly: Lasmiditan met primary, secondary endpoints in SPARTAN Phase 3 study - Eli Lilly aannounced that lasmiditan, an investigational, oral, first-in-class molecule for the acute treatment of migraine, met its primary endpoint in SPARTAN, a second Phase 3 study. At two hours following the first dose, a greater percentage of patients treated with lasmiditan were migraine pain-free compared to placebo. These results were statistically significant across all three studied doses. Lasmiditan also met the key secondary endpoint for SPARTAN across all three studied doses, with a statistically significantly greater percentage of patients free of their most bothersome symptom compared with placebo at two hours following the first dose. In this study, patients chose their MBS from nausea, sensitivity to sound or sensitivity to light. These findings are consistent with SAMURAI, the first pivotal Phase 3 study evaluating the safety and efficacy of lasmiditan for the acute treatment of migraine. In this study, lasmiditan met both the primary and key secondary endpoints with statistical significance. Results from SAMURAI were presented at the American Headache Society annual meeting in June. Lilly plans to submit a New Drug Application for lasmiditan to the U.S. Food and Drug Administration in the second half of 2018.

06:39 EDT Epizyme sees cash and securities of $193M sufficient into 3Q18

06:33 EDT Ingersoll-Rand raises quarterly dividend 12.5% to 45c per share - The dividend is payable September 29 to shareholders of record on September 8.

06:31 EDT Blackstone, CVC Group to buy Paysafe for approximately GBP2.96B - The boards of Paysafe Group and Pi UK Bidco Limited, a newly-incorporated company jointly-owned by funds managed by Blackstone and funds managed and/or advised by CVC, announced that they have reached agreement on the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued ordinary share capital of Paysafe. It is intended that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement. Bidco reserves the right to elect, with the consent of the Takeover Panel and subject to the terms of the Bid Conduct Agreement, to implement the Acquisition by way of a Takeover Offer for the entire issued and to be issued ordinary share capital of Paysafe as an alternative to the Scheme. Under the terms of the Acquisition, each Paysafe Shareholder will be entitled to receive: 590p in cash her Paysafe share. The Acquisition values the entire issued and to be issued ordinary share capital of Paysafe at approximately GBP 2.96 billion. The Paysafe Independent Directors, who have been so advised by Lazard as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. In providing its advice to the Paysafe Independent Directors, Lazard has taken into account the commercial assessments of the Paysafe Independent Directors. Commenting on the Acquisition, Martin Brand, Senior Managing Director of Blackstone, said: "We are delighted that our proposal has been recommended by the Board and excited by the prospect of working with management to develop Paysafe as one of the leading, global providers of online and mobile payment solutions. Paysafe's innovative alternative payment systems and risk management capabilities form a strong value proposition for consumers and merchants alike. As a leading technology investor, Blackstone believes that Paysafe is an ideal platform for continued innovation in the payments space, and look forward to supporting Paysafe's growth both organically and through acquisitions."

06:16 EDT Ares Management reports Q2 AUM $104B

06:12 EDT Tutor Perini announces $239M 35W & Lake Street JV project - Tutor Perini announced that a joint venture team comprised of its subsidiary, Lunda Construction Co., together with Ames Construction and Shafer Contracting Co., is being awarded a contract valued at approximately $239M by the Minnesota Department of Transportation for the 35W & Lake Street Project. This project involves various highway and access improvements along a 4.5-mile stretch of I-35W south of downtown Minneapolis. The scope of work includes the construction of 23 bridges, 64 cast-in-place retaining walls, grading, drainage, concrete paving and related structures. Construction is expected to begin in August 2017 with substantial completion anticipated in the fall of 2021. The contract value is expected to be included in the company's reported third quarter 2017 backlog.

06:11 EDT Patterson-UTI reports July average 162 drilling rigs operating in U.S., Canada - Patterson-UTI reported that for the month of July, the company had an average of 162 drilling rigs operating, consisting of 159 in the United States and three rigs in Canada. Average drilling rigs operating reported in the company's monthly announcements represent the average number of the company's drilling rigs that were operating under a drilling contract. The company cautioned that numerous factors in addition to average drilling rigs operating can impact the company's operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the company's financial performance. The company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.

06:08 EDT Toyota, Mazda to build $1.6B U.S. plant, President Trump says - President Donald Trump just tweeted, "Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing!"

06:04 EDT Pearson says to cut headcount by approximately 3,000 - Pearson says: "Detailed implementation planning for our 2017-2019 GBP 300m cost efficiency program is well underway. We will generate cost savings from next year with c.GBP 70m in 2018, an incremental c.GBP 130m in 2019 and the remaining c.GBP 100m impacting 2020 reducing our annualized cost base exiting 2019 by c.GBP 300m. In the second half of this year we will incur one-off costs related to property and technology as we begin the implementation of this program. Overall restructuring costs will be phased c.GBP 70m in 2017, c.GBP 90m in 2018 and c.GBP 140m in 2019, as we complete the program, for a cumulative cost of GBP 300m. As in our 2016 program, these costs will be excluded from adjusted operating profit. We will reduce Pearson's employee headcount by approximately 3,000 full time equivalent employees. Savings will come from the simplification of our technology architecture, increased use of shared service centers, standardization and automation of processes, reduction of headcount with a particular focus on managerial positions, centralization of procurement and the reduction of office locations."

06:02 EDT Cigna: 2017 global medical customer base to grow to 500,000-600,000 lives

05:53 EDT Alibaba forms partnership with Macau SAR - Alibaba announced that it and the Government of Macau Special Administrative Region, have entered into a strategic partnership framework agreement, under which Alibaba will support Macau's transformation into a smart city by using cloud computing technologies in order to bring benefits to both residents and tourists visiting the city. The partnership is for four years. In the first phase from 2017 to 2019, the collaboration will focus on cloud computing, smart transportation, smart tourism, smart healthcare, and smart city governance, as well as talent development. The scope of collaboration is intended to encompass environmental protection, economic forecasting and customs clearance on a later stage.

05:44 EDT AMC Entertainment announces $100M share repurchase program - AMC Entertainment announced that its board has approved the repurchase of up to $100M of the company's Class A common stock over a two-year period.