Stockwinners Market Radar for October 03, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:12 EDT Intel, Microsoft collaborate over Windows Mixed Reality experiences - Intel (INTC) said it is collaborating with Microsoft (MSFT) to bring new Windows Mixed Reality experiences and content to the mainstream. Gregory Bryant, senior vice president and general manager of Intel's Client Computing Group, joined Microsoft Technical Fellow Alex Kipman virtually this morning in AltspaceVR - a well-known social platform for virtual reality - to demonstrate the promise of social mixed reality. During the event, Bryant highlighted Intel's role and commitment to bring mixed reality experiences to life, including the recent launch of the 8th Gen Intel Core processor and announcing that Intel will deliver a Windows Mixed Reality experience with Intel True VR for the PyeongChang 2018 Olympic Winter Games. "We're thrilled about this and know that viewers are going to love the way they can get a front row seat to take part in the action," Bryant said. "The Olympics and AltspaceVR are the type of experiences that light up with Windows Mixed Reality and 8th Gen Intel Core processors, and we're going to scale this experience across devices - everything from 2 in 1s, notebooks to desktops - so everyone can enjoy."

18:50 EDT Vornado Realty Trust sees Q3 EPS (51c) - Vornado Realty Trust (VNO) announced that its financial results for the quarter ended September 30, 2017 will include the following: $53.6M of transaction costs in connection with the spin-off of JBG SMITH on July 17, 2017; JBG SMITH, Vornado's former Washington DC segment, had net income of $3.9M for the period from July 1, 2017 through July 17, 2017 before the spin-off; both the transaction costs and the operating results will be classified as discontinued operations; $44.5M non-cash impairment loss on Vornado's investment in Pennsylvania REIT (PEI), as required by GAAP because of a sustained trading stock price below our carrying value. Vornado received PEI operating partnership units as part of the sale proceeds of the Springfield Mall in March 2015. The results will also include $7.7M of negative mark-to-market fair value adjustments from Vornado's real estate fund as well as $1.8 million net loss from other items, or $1M of income on an FFO basis. The above amounts aggregate to a net loss of 51c per diluted share, after noncontrolling interests, which will be included in Vornado's third quarter 2017 "net income attributable to common shareholders" and will be excluded from "net income attributable to common shareholders, as adjusted." On an FFO basis, the above amounts aggregate to a net loss of $0.47 per diluted share, after noncontrolling interests, which will be included in "total FFO" and will be excluded from "FFO, as adjusted."

18:36 EDT Moog and SIA Engineering form joint venture - Moog (MOG.A, MOG.B) and SIA Engineering announced the formation of a joint venture company, Moog Aircraft Services Asia. Moog holds a 51% equity stake in the company and SIAEC holds the remaining 49%. The operation will reside in a new facility in Singapore. SIA Engineering Company is a major provider of aircraft maintenance, repair and overhaul services in the Asia-Pacific. The joint venture company will provide maintenance, repair and overhaul services for Moog manufactured flight control systems fitted to new generation aircraft including the Boeing (BA) 787 and Airbus A350.

17:58 EDT Disney CEO says has not announced deal with Altice USA - Bog Iger is speaking on CNBC.

17:48 EDT Heritage Financial appoints Bill Glasby Chief Technology Officer - Heritage Bank, subsidiary of Heritage Financial Corporation, announced the appointment of Bill Glasby as executive VP and Chief Technology Officer.

17:40 EDT AmTrust estimates Q3 catastrophe losses of $40M-$65M - AmTrust announced an initial estimate for net loss exposure for Q3 catastrophe activity between $40M and $65M. AmTrust's excess of loss reinsurance programs as of July 1, provide catastrophe coverage for losses in excess of $20M, with a per event limit of $830M. The majority of AmTrust's estimated losses from Hurricane Harvey, Hurricane Irma, Hurricane Maria and the recent earthquake in Mexico were related to contracts bound by AmTrust at Lloyd's, which has multi-event catastrophe coverage for losses in excess of $10M per event.

17:33 EDT Clearwater Paper: Factors to negatively impact Q3 operating results by $8-$9M - Clearwater Paper provided an update on certain factors that are expected to negatively impact operating results for the third quarter of 2017 by approximately $8 to $9M, based on preliminary results. The company is currently in the process of completing its financial closing procedures for the third quarter of 2017 and will report final results for the quarter on October 19. Several factors are expected to negatively impact the company's prior outlook for the third quarter. The planned major maintenance outage at the Lewiston, Idaho, mill is expected to cost an incremental $3 to $4M as a result of higher than expected repair costs and lost production due to a three-day delay in the startup of the paper machines. However, the delay did not impact the new continuous pulp digester, which commenced start-up as scheduled at the end of the third quarter. Inclement weather caused by hurricanes in the Southeast delayed shipments to customers and contributed to higher transportation expenses and reduced revenues with a net impact totaling approximately $2M. The expected relief in rising pulp prices in the latter half of the quarter did not materialize contributing to approximately $2M of incremental expenses. Also, lower than expected case shipments of consumer products and lower converted paperboard shipment volumes are expected to negatively impact results by approximately $1M. "Although we are disappointed with the expected negative impact to our third quarter results, we remain confident in our long-term plan to improve operating efficiencies and lower costs," said Linda Massman, president and chief executive officer.

17:31 EDT Clearwater Paper sees Q3 operating results lower by $8-$9M - Clearwater Paper provided an update on certain factors that are expected to negatively impact operating results for the third quarter of 2017 by approximately $8 to $9M, based on preliminary results. The company is currently in the process of completing its financial closing procedures for the third quarter of 2017 and will report final results for the quarter on October 19. Several factors are expected to negatively impact the company's prior outlook for the third quarter. The planned major maintenance outage at the Lewiston, Idaho, mill is expected to cost an incremental $3 to $4M as a result of higher than expected repair costs and lost production due to a three-day delay in the startup of the paper machines. However, the delay did not impact the new continuous pulp digester, which commenced start-up as scheduled at the end of the third quarter. Inclement weather caused by hurricanes in the Southeast delayed shipments to customers and contributed to higher transportation expenses and reduced revenues with a net impact totaling approximately $2M. The expected relief in rising pulp prices in the latter half of the quarter did not materialize contributing to approximately $2M of incremental expenses. Also, lower than expected case shipments of consumer products and lower converted paperboard shipment volumes are expected to negatively impact results by approximately $1M. "Although we are disappointed with the expected negative impact to our third quarter results, we remain confident in our long-term plan to improve operating efficiencies and lower costs," said Linda Massman, president and chief executive officer.

17:27 EDT Ford says growth still important to the company

17:15 EDT MarketAxess reports September trading volume of $116.8B - MarketAxess Holdings announced total monthly trading volume for September of $116.8B, consisting of $66.5B in U.S. high-grade volume, $46.4B in other credit volume, and $3.9B in liquid products volume. U.S. high-yield, emerging market and Eurobond volumes represented approximately 21.3%, 52.3% and 25.2% respectively, of the total trading volumes of the other credit category. The Company also reported preliminary total variable transaction fees per million of $190 and total distribution fees of $20.2M for the quarter ended September 30. The preliminary FPM and distribution fees include the impact of the new high-yield fee plan effective as of August 1. The FPM and distribution fees for the quarter ended September 30 are preliminary and may be revised in subsequent updates and public filings.

17:08 EDT Integrated Core Strategies reports 5% passive stake in SM Energy

17:05 EDT Ford says started new business transporting non-emergency patients

17:00 EDT American Financial Group sees $105M Q3 pretax loss for catastrophe events - American Financial Group announced an initial estimate of its expected losses from third quarter catastrophe events, including Hurricanes Harvey, Irma and Maria, as well as the two earthquakes in Mexico in September. Based on information available at this time, AFG estimates that its pretax loss from these events, net of AFG's reinsurance coverage described below and inclusive of reinstatement premiums and other associated offsets, will be approximately $105M. On an after-tax basis, this amount represents 95c per share. The company will provide updated earnings guidance in conjunction with the release of its third quarter 2017 results later this month. The catastrophe losses incurred will not preclude consideration of the payment of a special dividend in the fourth quarter of 2017.

16:55 EDT Office Depot sees CompuCon acquisition accretive in year one - Office Depot expects over $40M in estimated annual cost synergies within two years.

16:43 EDT Ford says investing in startup Autonomic - Says investing in Silicon Valley startup Autonomic. Says must raise gaze just high enough so that the business is not too disrupted as the world changes. Comments taken from CEO Strategic Update conference call.

16:41 EDT Yahoo says all user accounts were affected by August 2013 theft - Yahoo, now part of Oath announced that it is providing notice to additional user accounts affected by an August 2013 data theft previously disclosed by the company on December 14, 2016. At that time, Yahoo disclosed that more than one billion of the approximately three billion accounts existing in 2013 had likely been affected. In 2016, Yahoo took action to protect all accounts, including directly notifying impacted users identified at the time, requiring password changes and invalidating unencrypted security questions and answers so that they could not be used to access an account. Yahoo also notified users via a notice on its website. Subsequent to Yahoo's acquisition by Verizon, and during integration, the company recently obtained new intelligence and now believes, following an investigation with the assistance of outside forensic experts, that all Yahoo user accounts were affected by the August 2013 theft. While this is not a new security issue, Yahoo is sending email notifications to the additional affected user accounts. The investigation indicates that the user account information that was stolen did not include passwords in clear text, payment card data, or bank account information. The company is continuing to work closely with law enforcement.

16:38 EDT Welltower CFO Scott Estes to leave, John Goodey to succeed - Welltower (HCN) announced that John Goodey has been named Executive Vice President and CFO to succeed Scott Estes, who is leaving Welltower to pursue other opportunities. Goodey has been with the company since 2014 and previously served as Senior Vice President - International. Prior to joining Welltower, Goodey held several senior investment banking roles, including Director and Global COO of Deutsche Bank's (DB) Global M&A business, and Managing Director of Barclays' Healthcare Investment Banking practice. John began his career in finance and accounting for GlaxoWellcome.

16:36 EDT CytomX Therapeutics trading resumes

16:35 EDT JPMorgan leads the nation in total deposits adding $96B in net deposits - For the first time in 23 years, JPMorgan led the nation in total deposits as consumers and businesses added $96B to their bank accounts in the last year. The firm's U.S. deposits grew 7.9% to reach $1.3T on June 30, according to Federal Deposit Insurance data released this week. This is the fifth consecutive year the firm led the nation in deposit growth. Over the last five years, customers added $447B in deposits, a 51% increase.

16:34 EDT Chatham Asset Management reports 7.5% passive stake in McClatchy

16:32 EDT Mattel names Joe Euteneuer as CFO, announces executive changes - Mattel announced that it has appointed Sven Gerjets as Chief Technology Officer, Amy Thompson as Chief People Officer and Nancy Elder as Chief Communication Officer, effective immediately. The company separately announced the appointment of Joe Euteneuer as CFO. The executives will work closely with CEO Margo Georgiadis and the Mattel leadership team to support Mattel's transformation strategy focused on delivering enhanced and sustainable growth.

16:29 EDT Ampco-Pittsburgh CEO to retire in 2018 - Ampco-Pittsburgh announced that John Stanik has notified the board of his intention to retire as CEO sometime in the middle of 2018 or at such time as a suitable successor is identified and appointed, so that a smooth transition of leadership is assured. Further, Stanik has pledged ongoing service to Ampco-Pittsburgh Corporation in any capacity beyond his retirement date. Stanik will continue as a member of the board through his current term, which ends at the company's 2018 annual meeting of shareholders.

16:26 EDT Berkshire Hills Bancorp, Commerce Bancshares Corp. approved for merger - Berkshire Hills Bancorp (BHLB) and Commerce Bancshares Corp. announced that all regulatory approvals relating to the merger of Commerce with and into Berkshire have been received. Commerce shareholders previously approved the merger at a special meeting of shareholders on September 21. The merger is targeted to close on or about October 13. With this acquisition, Berkshire will add sixteen branches in the Worcester and Boston areas. The merger further adds approximately $1.9B in assets, allowing Berkshire to fully absorb the earnings impacts associated with crossing $10B in assets, based on expected operations after merger integration is completed.

16:21 EDT Dynasil: Xcede completes bulk of required ISO 10993-1 testing program - Dynasil Corporation of America announced that Xcede Technologies has completed the bulk of the required ISO 10993-1 Testing Program for the Xcede Hemostatic Patch. These studies are based on the international standard for medical devices that come into direct or indirect contact with the human body in order to determine the potential for an unacceptable adverse biological response. They include, but are not limited to, nonclinical acute and long-term toxicity studies as well as tests of mutagenesis, hemo- and cyto-compatibility, sensitization, and irritation. Although the chronic liver implantation study is still ongoing, we believe the results to date from the cohort of studies demonstrate a profile appropriate to initiate the filing for regulatory approval to begin clinical trials. Subject to such regulatory approvals, the Company anticipates starting clinical trials in the Netherlands in early 2018. "We are very excited to announce these preclinical results," said Linda Zuckerman, Ph.D., President and CEO of Xcede Technologies, "We feel this is a significant accomplishment in moving the Xcede Patch to the clinical development phase of the product's life-cycle.""At this point in time, we believe we are on track for clinical trials in early 2018. However, further studies need to be completed and regulatory approval obtained before the European trials can begin. As mentioned on calls and other written material, we remain very encouraged by the recent positive results," added Peter Sulick, Dynasil's Chairman and CEO.

16:19 EDT BRT Apartments acquires Gateway Oaks for $39.0M - BRT Apartments announced that on September 28 an entity in which it has a 50% equity interest acquired Gateway Oaks, a 2016 constructed Class A 313 unit multi-family property located in Forney, Texas for $39.0M, including $25.4M of mortgage debt obtained in connection with the acquisition. The debt is non-recourse to BRT, carries an interest rate of 4.15%, is interest only for five years and matures in 2027.

16:18 EDT WageWorks acquires Tango Health's HSA business - WageWorks announced it has acquired Tango Health's Health Savings Account, or HSA, business. The transaction strengthens WageWorks' HSA product offering and its leadership position in the Consumer-Directed Benefits market. The transaction includes Tango Health's HSA technology platform and client portfolio. WageWorks and Tango Health will work together over the next several months to ensure a smooth transfer of the business and operations while maintaining outstanding service for existing customers.

16:17 EDT Integra LifeSciences launches SurgiMend PRS Meshed Collagen Matrix - Integra LifeSciences announced that it has launched SurgiMend PRS Meshed Collagen Matrix, its latest offering in tissue-building solutions for plastic and reconstructive surgery. SurgiMend PRS Meshed Collagen Matrix is an expandable matrix that provides up to twice the initial coverage area once hydrated and fully expanded. It features a meshing pattern which allows for vascular ingrowth and increased conformability.

16:17 EDT Berkshire Hills Bancorp, Commerce Bancshares approved for merger - Berkshire Hills Bancorp (BHLB) and Commerce Bancshares (CBSH) announced that all regulatory approvals relating to the merger of Commerce with and into Berkshire have been received. Commerce shareholders previously approved the merger at a special meeting of shareholders on September 21. The merger is targeted to close on or about October 13. With this acquisition, Berkshire will add sixteen branches in the Worcester and Boston areas. The merger further adds approximately $1.9B in assets, allowing Berkshire to fully absorb the earnings impacts associated with crossing $10B in assets, based on expected operations after merger integration is completed.

16:16 EDT Ford backs long-term goal of 8% automotive operating margin

16:15 EDT Lawson Products acquires The Bolt Supply House - Lawson Products announced the acquisition of The Bolt Supply House for a purchase price of approximately C$40M, subject to customary post-closing price adjustments. The purchase price was funded with cash on hand and utilization of Lawson Products' existing credit facility. The Bolt Supply House is a Canadian distributor of high quality fasteners, power tools and industrial MRO supplies, with annual sales of approximately C$43M. The Bolt Supply House's 13 branch locations and 27 sales territory managers serve companies and professional tradespeople in Alberta, Saskatchewan, and Manitoba, Canada. The company packages and ships products from a 43,000 square-foot distribution center in Calgary. The Bolt Supply House will operate under its brand as a subsidiary corporation of Lawson Products' Canadian operating company. The transaction marks Lawson Products' fifth and largest acquisition in 24 months and more than doubles its sales in Canada

16:14 EDT Ford to provide FY18 guidance in January

16:13 EDT Ford announces strategic update, reaffirms FY17 financial guidance - Ford Motor Company today is providing a strategic update to investors, detailing plans to leverage its unique product strengths, trusted brand and global scale to refocus and thrive in an evolving and disruptive period for the auto industry. "Ford was built on the belief that freedom of movement drives human progress," said Hackett, who became Ford president and CEO on May 22. "It's a belief that has always fueled our passion to create great cars and trucks. And today, it drives our commitment to become the world's most trusted mobility company, designing smart vehicles for a smart world that help people move more safely, confidently and freely." Reiterating its long-term goal of an 8 percent automotive operating margin, Ford says it will embrace the profound technological changes and new competition buffeting the industry. To deliver, the company is expanding its scope to include vehicles and services - all designed around human-centered experiences. The company will tap its strengths integrating hardware and software in complex devices, its proven ability to deliver scale and the trust tied to the Ford brand. The company plans to accelerate the introduction of connected, smart vehicles and services customers want and value. By 2019, 100 percent of Ford's new U.S. vehicles will be built with connectivity. The company has similarly aggressive plans for China and other markets, as 90 percent of Ford's new global vehicles will feature connectivity by 2020. Ford is attacking costs, reducing automotive cost growth by 50 percent through 2022. As part of this, the company is targeting $10 billion in incremental material cost reductions. The team also is reducing engineering costs by $4 billion from planned levels over the next five years by increasing use of common parts across its full line of vehicles, reducing order complexity and building fewer prototypes. The company also wants to allocate capital where it can win the future. This starts with the company reallocating $7 billion of capital from cars to SUVs and trucks, including the Ranger and EcoSport in North America and the all-new Bronco globally. Ford also has plans to build the next-generation Focus for North America in China, saving capital investment and ongoing costs. Further, Ford is reducing internal combustion engine capital expenditures by one-third and redeploying that capital into electrification - on top of the previously announced $4.5 billion investment. Ford will continue to leverage partnerships, remain active in M&A and collaborate to accelerate R&D. The company recently announced it was exploring a strategic alliance with Mahindra Group as it transforms its business in India, and Zoyte with the intention of developing a new line of low-cost all-electric passenger vehicles in China. When it comes to autonomous vehicle development, the company recently announced a relationship with Lyft to work toward commercialization and a collaboration with Domino's Pizza to research the customer experience of delivery services. The company recently announced a dedicated electrification team within Ford, focused exclusively on creating an ecosystem of products and services for electric vehicles and the unique opportunities they provide. This builds on Ford's earlier commitment to deliver 13 new electric vehicles in the next five years, including F-150 Hybrid, Mustang Hybrid, Transit Custom plug-in hybrid, an autonomous vehicle hybrid, Ford Police Responder Hybrid Sedan, and a fully electric small SUV.

16:10 EDT Point72 Asset Management reports 5.2% passive stake in Global Blood Therapeutics

16:07 EDT Gentherm names Selects Phillip Eyler as CEO, effective December 4 - Gentherm (THRM) announced that its Board of Directors has selected Phillip Eyler as the organization's next President and CEO. Eyler will also join the Gentherm Board of Directors. Since 2015, Eyler has served as President of the $3 billion Connected Car division at Harman, a subsidiary of Samsung (SSNLF). Eyler will start in his new position with Gentherm on December 4. As previously announced, current Gentherm President and CEO, Daniel Coker, will retire at that time.

16:04 EDT Kimco Realty provides update on Puerto Rico assets after Hurricane Maria - Kimco reported that recovery efforts are underway at the company's seven Puerto Rico assets in the wake of Hurricane Maria. All personnel are safe and accounted for. Two assets in the southern part of the island were less impacted and most tenants have resumed operations, while five properties in the northern region sustained more significant damage. Initial repairs are already in progress, however, a complete assessment and recovery plan will require more time, as the island's challenged infrastructure and a scarcity of labor and materials have slowed efforts. Kimco has deployed additional equipment and construction personnel to expedite the reopening of tenant locations. Kimco maintains comprehensive property and business interruption insurance on its Puerto Rico assets, and the company expects that all damage will be insured under existing policies, with building coverage subject to a collective deductible of $1.2M.

15:59 EDT Intelsat rises 11% in late session trading

15:55 EDT MoneyGram at lows after report of Schumer urging deal scrutiny - Senate Majority Leader Chuck Schumer plans to urge Treasury Secretary Steve Mnuchin to closely scrutinize deals that give foreign companies access to sensitive financial information of Americans, such as Ant Financial's (BABA) proposal to purchase Moneygram (MGI), according to Bloomberg. Following the report, MoneyGram shares are down 2.5%, hitting their worst levels of the day into the close.

15:35 EDT Medical Transcription Billing says response to talkEHR 'overwhelming' - MTBC announced details on the full launch of its voice-enabled electronic health records solution, talkEHR. "The response from physicians during the first 30 days of our full rollout is overwhelming and confirms our belief in the market opportunity for a free, voice and AI driven EHR such as talkEHR. We're very pleased to have already signed new talkEHR clients representing 30 unique specialties, spanning across 42 states plus Guam and Puerto Rico," said Karl Johnson, MTBC SVP Sales and Marketing. Micro-cap MTBC is up 78c, or 52%, to $2.28.

15:08 EDT Battleground: Analysts diverge on bluebird bio sickle cell risk - Yesterday, Morgan Stanley analyst Matthew Harrison downgraded bluebird bio (BLUE), arguing that the risks ahead of the company's presentation of LentiGlobin sickle cell data at December's American Society of Hematology meeting are being underappreciated. This morning, however, Wells Fargo analyst Jim Birchenough voiced a different opinion, recommending buying the stock on weakness as he believes his peer's analysis of the company's LentiGlobin gene therapy program for Sickle Cell Disease is flawed. BUY ON WEAKNESS: In a research note to investors, Wells Fargo's Birchenough reiterated an Outperform rating on shares of bluebird bio and recommended buying on weakness, following a call with management and what he believes to be flawed competitor analysis related to the company's LentiGlobin gene therapy program for Sickle Cell Disease. With concerns raised regarding correlation between ex vivo drug product vector copy number and in vivo peripheral vector copy number, the analyst argued that pooling of small patient numbers, from different studies, not consistently exposed to the same gene therapy product or transplant protocol, provides an inadequate framework for correlation analysis and conclusion on prospects for clinical success in sickle cell. Importantly, Birchenough pointed out that at the current bluebird bio share price of $120/share, only $16/share is attributable to SCD, with an implied likelihood of success of only 10%, and that base value of $104/share can be supported by BCMA CAR-T, LentiGlobin for Beta Thalassemia, and gene therapy for adrenoleukodystrophy. MORGAN STANLEY SAYS SELL BLUEBIRD: Yesterday, Morgan Stanley's Harrison downgraded bluebird bio to Underweight from Equal Weight, as he believes the risks ahead of the company's presentation of LentiGlobin sickle cell data at December's ASH meeting remains underappreciated. His concerns stem mainly from his view that Process 2 manufacturing is not enough to drive higher hemoglobin responses. The analyst, who noted the stock is up over 40% since Gilead's (GILD) acquisition of Kite Pharma set off excitement about the CAR-T space that blue is also in, does not believe the ASH data will demonstrate the improvement in hemoglobin production necessary to increase confidence in sickle cell genetherapy. His premise is that to improve hemoglobin production in sickle cell patients, the correlation between drug-product vector copy number and peripheral VCN needs to increase substantially. Harrison kept a $105 price target on bluebird bio shares. PRICE ACTION: In afternoon trading, shares of bluebird bio have gained about 2% to $127.65. Yesterday the stock slid nearly 9% on the heels of Morgan Stanley's downgrade.

14:42 EDT P&G: Peltz hasn't asked many questions about strategy - Says Nelson Peltz hasn't asked many questions about the company's strategy. Says Peltz does not have same understanding of P&G's industry as he does the food industry. Comments taken from Q&A session with Meg Whitman, David Taylor and Jon Moeller.

14:34 EDT CSRA announces award of potential $24.5M contract - The U.S. Environmental Protection Agency has awarded a Scientific and Technical Support contract to SRA International, a subsidiary of CSRA, to assist the EPA Office of Water Engineering and Analysis Division and other organizations with similar needs, the company announced. The contract holds a potential value of $24.5M over 5 years. The STS contract follows a recently-expired contract that provided similar services. CSRA has held all predecessor versions of this contract, the company noted.

14:05 EDT Mercedes-Benz USA reports September sales down 1.7% to 29,008 units - Mercedes-Benz USA reported September sales of 29,008 units, compared to 29,500 vehicles sold during the same period last year. "The hurricanes in Texas, Florida and Puerto Rico certainly caused some disruption in September, but our dealers did a fantastic job to maintain business. We are also seeing continued positive developments for our SUVs," said Dietmar Exler, president and CEO of MBUSA. "We expect to regain momentum in the final quarter of the year with the launch of the new S-Class Sedan, AMG models and continued demand for our SUV lineup."

13:32 EDT Sabby Management reports 9.94% passive stake in Ritter Pharmaceuticals

13:17 EDT pdvWireless files comments on FCC notice of inquiry - pdvWireless announced that together with the Enterprise Wireless Alliance, it has filed comments at the Federal Communications Commission related to the previously issued Notice of Inquiry. The NOI opened a proceeding "to examine whether any rule changes may be appropriate to increase access to spectrum, improve spectrum efficiency, and expand flexibility in the 896-901/935-940 MHz band". Reference Link

13:01 EDT NetApp, Microsoft partner over Azure Enterprise NFS Service - NetApp (NTAP) announced that it is the data services technology of choice behind first-of-its-kind cloud-centric capabilities for the hybrid cloud. The new industry-first enterprise Network File System service in the cloud is delivered natively in Microsoft Azure (MSFT) and powered by NetApp. NetApp also announced deeper integrations with Azure in Cloud Control for Microsoft Office 365 and NetApp AltaVault. Users will be able to access this service directly through the Azure console, delivering superior performance and ease of use. IT leaders will have a transparent reach into premiere cloud data services powered by NetApp.

12:31 EDT Ominto appoints Friedman LLP as new audit firm - Ominto announced it has appointed Friedman LLP as its new audit firm, effectively immediately. Friedman LLP is an independent member of DFK International, an association providing global resources.

12:15 EDT Fairmount Santrol resumes after volatility halt, up almost 10%

12:11 EDT Fairmount Santrol jumps 6% after Bloomberg says Sibelco considering bid

12:04 EDT Google's Firebase introduces Cloud Firestore document database for apps - Alex Dufetel, Product Manager at Firebase, announced in a blog post: "Today we're excited to launch Cloud Firestore, a fully-managed NoSQL document database for mobile and web app development. It's designed to easily store and sync app data at global scale, and it's now available in beta. Key features of Cloud Firestore include: Documents and collections with powerful querying; iOS, Android, and Web SDKs with offline data access; Real-time data synchronization. And of course, we've aimed for the simplicity and ease-of-use that is always top priority for Firebase, while still making sure that Cloud Firestore can scale to power even the largest apps... As you may have guessed from the name, Cloud Firestore was built in close collaboration with the Google Cloud Platform team. This means it's a fully managed product, built from the ground up to automatically scale." Reference Link

12:01 EDT Ritter Pharmaceuticals raises $23M to fund initiation of Phase 3 RP-G38 program - Ritter Pharmaceuticals announced the closing of its previously announced underwritten public offering with total gross proceeds to the company of approximately $23M, before deducting underwriting discounts, commissions and other offering expenses payable by the company. The proceeds will allow the Company to fund the initiation of its Phase 3 clinical program of RP-G28 for the treatment of lactose intolerance, expected to begin in the first half of 2018. This therapeutic has the potential to become the first U.S. Food and Drug Administration approved treatment for lactose intolerance. The Phase 3 program incorporates guidance from the company's End-of-Phase 2 meeting with the FDA's Division of Gastroenterology and Inborn Errors Products.

11:43 EDT Lennar says community count should increase towards year-end into 2018

11:32 EDT Lennar says accounting adjustments from WCI acquisition to impact Q2 margin - The company sees Q2 gross margins to be between 21-21.5%. Lennar still sees FY17 gross margin to be 22-22.5%.

11:26 EDT Tesla slides after Model 3 production miss - Shares of Tesla (TSLA) are slipping after the company reported deliveries and production for the third quarter last night. While Model S and X deliveries were better than expected, Model 3 numbers came in below estimates. Commenting on the news, Baird analyst Ben Kallo recommended using any weakness as a buying opportunity as he sees the update as good enough, while his peer at Bernstein argued that the report raised more questions than answers. PRODUCTION, DELIVERIES UPDATE: Last night, Tesla reported that in the third quarter it delivered 26,150 vehicles, of which 14,065 were Model S, 11,865 were Model X, and 220 were Model 3. The company said this was its all-time best quarter for Model S and X deliveries. In total, the company expects to deliver about 100,000 Model S and X vehicles in 2017. In addition to the third quarter deliveries, about 4,820 Model S and X vehicles were in transit to customers at the end of the quarter, which will be counted as deliveries in the fourth quarter. Meanwhile, third quarter production totaled 25,336 vehicles, with 260 of them being Model 3. Model 3 production was less than anticipated due to production bottlenecks. Tesla also noted that "is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. Tesla understands what needs to be fixed and is confident of addressing the manufacturing bottleneck issues in the near-term." BUYING OPPORTUNITY: In a research note this morning, Baird's Kallo argued that although Model 3 deliveries were slightly below the range he had outlined before due to manufacturing bottlenecks, production should continue to ramp and he believes Model S and X demand remains strong. Further, he pointed out he had expected the third quarter to be the most challenging part of the Model 3 production ramp and said he would be an "aggressive" buyer on any weakness as he believes Tesla is only two to four weeks behind schedule. Kallo reiterated an Outperform rating and $411 price target on the shares. Meanwhile, his peer at KeyBanc told investors in a research note of his own that he thinks the Model 3 miss was somewhat priced in. Analyst Brad Erickson argued that he sees Model 3 euphoria likely to persist. Nonetheless, high-end demand and likely shortfalls in Model 3 profitability remain his concern and primary focus. MORE QUESTIONS THAN ANSWERS: Also commenting on Tesla's update, Bernstein analyst A.M. Sacconaghi, Jr. noted that the company's Model 3 production was "dramatically" lower than forecast, and worse than feared. While acknowledging that Model S and X deliveries were strong, the analyst said he believes the fourth quarter guidance of nearly 27K units is ambitious, and that several factors helped S and X demand this quarter, including aggressive price cuts and promotions, the discontinuation of the lowest-end Model S, third quarter seasonality, and publicity from the Model 3 launch. Tesla's production and deliveries report raised more questions than answers, he contended. He continues to believe that the Tesla investment thesis hinges on the success of Model 3, and the company's ability to ramp production, make the car profitable, and deliver good initial build quality. He reiterated a Market Perform rating on the shares. His peer at Goldman Sachs also said while Model S and X topped expectations, he remains cautions on the Model 3 ramp. Analyst David Tamberrino believes this likely puts downward risk to the company's communicated S-curve to the Model 3 production ramp, where it targets 5,000 per week at some time in December 2017. He reiterated a Sell rating on Tesla shares. PRICE ACTION: In morning trading, Tesla dropped about 1% to $339 per share.

11:07 EDT Lennar says SG&A is at historic lows, year-end margin will meet guidance - Comments are from Q1 2017 Lennar Corporation Earnings Conference Call.

10:51 EDT Nordic American Offshore Executive Chairman Hansson and son buy 500K shares - A company owned by the NAO Executive Chairman, Herbjorn Hansson and his son, Alexander, today bought 500,000 shares in NAO at an average price of $1.48 per share. Following today's transaction, the Hansson family holds shares equivalent to 13.2% of the common shares of NAO.

10:45 EDT Urban Outfitters slides as valuation seen 'more stretched than skinny jeans' - Deutsche Bank downgraded retailer Urban Outfitters (URBN) to Sell from Hold, warning that the stock's valuation is "more stretched than their skinny jeans." VALUATION STRETCHED: The stock has jumped 43% since August 15, and its price to earnings multiple has increased about 350% since that time, wrote Deutsche Bank analyst Tiffany Kanaga. Having risen with other retailers based on "optimistic forecasts for improvement," Urban Outfitters' stock is now trading at "elevated" levels, according to Kanaga. The stock's multiple will probably drop "towards" Kanaga's target of 12 times analysts' consensus fiscal 2018 EPS target versus the approximately 15.2 times at which the stock was trading as of yesterday's close, the analyst predicts. Retailers' September same-store sales reports, due to be reported this week by a number of Urban Outfitters' peers, along with retailers' third quarter results expected to be reported starting November 21, will push down the multiple, she contends. QUARTERLY REPORT: Kanaga expects Urban Outfitters' Q3 earnings per share to come in at 27c, versus analysts' consensus outlook of 30c. The retailer's gross product margin will be 32.8%, versus the Street's consensus outlook of 33.4%, she predicted. Factors weighing on the company's results include increased discounts and negative mix shifts in its online and branded business, said Kanzaga, who warned that the latter trend will likely persist into 2018. Given a number of negative macro trends, including "unseasonable Fall weather, hurricane disruption, and worsening mall traffic trends," Urban Outfitters' comp sales probably did not reach a positive turning point last quarter, added the analyst. Kanaga kept a $19 price target on the stock. PRICE ACTION: In morning trading, Urban Outfitters sank over 5% to $22.73 per share.

10:32 EDT Wells Fargo CEO says 'committed' to continuing to make necessary changes to ops - Sloan also discussed the details of a comprehensive review of sales practices and other customer-facing operations across the bank that he launched last fall, going beyond the requirements of Wells Fargo's regulatory consent orders. Additionally, Wells Fargo announced in August the result of a broader look into 165 million accounts opened at the bank between 2009 and 2016. The estimate of potentially unauthorized accounts grew by about 1.5 million. However, these are not "new" instances of possible misconduct since last fall; they are newly revealed instances of possible misconduct based upon the expanded investigation of the years before 2017. During the past year, Wells Fargo also identified and rectified issues in its auto loan business related to Collateral Protection Insurance placed by a third party. Last month, the bank began issuing checks to affected auto loan customers and should complete reimbursement of those customers by the middle of 2018. Sloan concluded his testimony by reiterating that the company is committed to continuing to make necessary changes to its operations and to putting customers first. "The entire Wells Fargo team, all 270,000 of us, is committed to making things right for customers the bank let down. This is a big job, and we will get it right," said Sloan.

10:32 EDT Wells Fargo CEO: Wells Fargo is a better bank today than it was a year ago

10:27 EDT Amedica adjourns special meeting of shareholders - Amedica Corporation announced that the special meeting of stockholders scheduled for today has been adjourned.The adjournment is to allow for the solicitation of additional votes in favor of the proposal contained in the definitive proxy statement that Amedica filed with the Securities and Exchange Commission on July 28 regarding a reverse split of the company's common stock. Approval of a majority of all outstanding shares of Amedica common stock is necessary for this proposal to be approved. The special meeting will reconvene at 9:00 a.m. local time on October 10. During the period of the adjournment, Amedica will continue to solicit proxies from its stockholders. Independent proxy advisory firms Institutional Shareholder Services Inc. and Glass Lewis & Co. LLC have recommended that stockholders vote in favor of the reverse split proposal.

10:21 EDT Ford, on call, updates monthly SAAR projection to 18.2M-18.3M vehicles

10:15 EDT BlackBerry announces plan to move to NYSE from Nasdaq - BlackBerry Limited earlier announced its pending transfer of the listing of its common stock from the NASDAQ Global Select Market to the New York Stock Exchange. The company expects to begin trading on the NYSE on October 16, under the new ticker symbol "BB". The company will continue to trade on the NASDAQ until the transfer is completed. BlackBerry's listing on the TSX will not change

10:12 EDT Sotheby's Autum Hong Kong sales achieve 42% y/y increase to $404M - Sotheby's Autumn 2017 Hong Kong auction series achieved a grand total of $404M, against a low estimate of $309M and with a combined sell-through rate of 86%. Sotheby's President and CEO Tad Smith said: "Bidding and buying from the Mainland throughout the week was meaningful, with the majority of our top ten lots selling to buyers in China. Their participation helped to drive a 42% increase in sales compared to one year ago and bring our annual total for major auctions in Hong Kong to over $810M, the highest level since 2014."

10:01 EDT Liberty Interactive Corporation QVC Group trading resumes

10:00 EDT Hyatt expects to double number of hotels in Africa by 2020 - Hyatt Hotels & Resorts announced that Hyatt expects to double the number of Hyatt hotels in Africa, with six new hotels expected to open by 2020. The developments are expected to see the Hyatt brand enter four new countries on the African continent and are expected to create approximately 2,100 new jobs once open.

09:48 EDT Pulmatrix says Pulmazole receives second QIDP designation from FDA - Pulmatrix announced that its drug candidate for treating fungal infections in the lungs, Pulmazole, has been designated as a "Qualified Infectious Disease Product" in a second indication by the U.S. FDA. Under the QIDP program, which is designed to speed the development of novel drugs against important pathogens, Pulmatrix will receive five years of additional market exclusivity for Pulmazole. Pulmatrix had previously received QIDP status as well as orphan drug designation from the FDA for Pulmazole to treat fungal infections in the airways of patients with cystic fibrosis, a rare genetic disease estimated to affect 75,000-100,000 patients worldwide. This new QIDP status expands the eligible ABPA population to include asthmatic patients; 1.5% of adult asthmatics suffer from ABPA.

09:44 EDT Associated Banc-Corp acquisition of Whitnell & Co seen accretive to FY18 EPS - Associated Banc-Corp announced that it has closed the previously announced acquisition of Whitnell & Co., a wealth management and multi-family office services firm based in Oak Brook, Illinois. Whitnell has approximately $1B assets under management. The acquisition is expected to increase both Associated assets under management and related run-rate revenue by more than 10%. The transaction is not expected to have a material impact on Associated's 2017 earnings and is expected to be accretive to Associated's 2018 earnings.

09:26 EDT General Motors reports September U.S. sales up 12% to 279,397 units - General Motors reported a 12% year-over-year increase in total sales in September to 279,397 units, driven by a 17% increase at Chevrolet and an 9% increase at GMC. GM Chief Economist Mustafa Mohatarem said all the key U.S. economic indicators point toward continued economic growth and stability. In addition, regions devastated by the recent hurricanes will continue to recover, helping spur new and used vehicle sales."The overall strength of the U.S. economy is the main force driving the market," he said. "With the U.S. economy strengthening, retail sales should remain strong for the foreseeable future."

09:24 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Lennar (LEN), up 3.1%... Paychex (PAYX), up 2%. ALSO HIGHER: Dimension Therapeutics (DMTX), up 1.7% after being acquired by Ultragenyx (RARE)... General Motors (GM), up 1.2% after being upgraded to Buy from Neutral at BofA/Merrill. LOWER: Intuit (INTU), down 1.1% after reporting quarterly results... Tesla (TSLA), down 1.9% after reporting third quarter deliveries... Delta Air Lines (DAL), down fractionally after revising September quarter PRASM view to up about 2% vs. prior guidance of 2%-3%... Tile Shop (TTS), down 31.4% after it reported preliminary third quarter revenue.

09:19 EDT Toyota North America reports September U.S. sales of 226,632 units, up 14.9% - Toyota Motor North America reported September sales of 226,632 units. With one more selling day in September 2017 compared to September 2016, sales were up 14.9% on a volume basis, and up 10.5% on a daily selling rate basis. For the first nine months of the year, TMNA reported sales of 1,831,479 units. With one more selling day in 2017 compared to 2016, total sales were up 0.1% on a DSR basis, and sales were up 0.5% on an unadjusted raw-volume basis. Toyota division posted September 2017 sales of 200,436 units, up 16.9% on a volume basis, and up 12.4% on a DSR basis.

09:15 EDT Ford's September sales increased 8.9%, Bloomberg says

09:14 EDT Telos Corp awarded $34M Air Force contract for wireless infrastructure - Telos Corporation announced it has been awarded a two-year, $34M contract to modernize the Base Information Transport Infrastructure Wireless Local Area Networks for the U.S. Air Force. The work will be completed under a Network Centric Solutions-2 Small Business task order at all worldwide active duty bases and specified Guard and Reserve bases. At each BITI Wireless location, Telos will replace the current network access control appliances and upgrade the WLAN components and operating systems. The NAC and WLAN components will be integrated into the Hanscom Collaboration & Innovation Center to support a full cybersecurity certification and accreditation effort.

09:10 EDT Delta cuts September quarter PRASM view to up about 2% vs. prior 2%-3% view

09:06 EDT Tetra Tech acquires Glumac, terms not disclosed - Tetra Tech announced that it has acquired Glumac. The company has more than 300 employees and incorporates innovative sustainable technologies and solutions into each of its designs, including the design and engineering of Leadership in Energy and Environmental Design standard and Net-Zero infrastructure.

09:05 EDT Delta Air Lines reports September system traffic up 0.3% - Delta Air Lines reported operating performance for September, stating that it carried 14.7M passengers across its network in the month. "Hurricane Irma significantly impacted operations with 2,200 flights cancelled from September 7-12 at airports in Florida, the Caribbean, and Georgia, including the company's Atlanta hub," Delta noted. In an Investor Update issued this morning, Delta announced that it expects its operating margin to be 15.5%-16.5%. Hurricane Irma negatively impacted results by approximately $120M, which translates to approximately one point of margin, the company said. Delta reported September system traffic, or RPMs, was up 0.3% compared to the same month of last year, that ASM were up 0.6% from last September and that load factor in the month decline 0.2 points to 84.4%.

09:04 EDT Occidental Petroleum says Hurricane Harvey caused 'minimal' disruptions to ops - Occidental Petroleum announced third quarter 2017 business impacts of Hurricane Harvey as operations have returned to pre-storm levels. Overall, the storm caused minimal disruptions to operations and Occidental expects this one-time financial and production impact to be limited to the third quarter. The company experienced Hurricane Harvey business impacts within the Chemicals, Midstream and Permian Resources segments. Some Chemicals and Midstream operations suspended operations along the Gulf Coast, while Permian Resources encountered third-party disruptions, impacting production due to gas processing and NGL delivery. "We are very proud of our team's efforts to safely enact our business continuity plans across impacted assets and manage our business during and after the storm," said President and CEO Vicki Hollub. "We remain on track and continue along our pathway to break even at $50 after dividend and production growth and our long-term, returns-focused value proposition." For the third quarter, the impacts of Hurricane Harvey are anticipated to be: Chemicals segment pre-tax income reduction of approximately $60M; Midstream segment pre-tax income reduction of approximately $10M; Permian Resources daily production reduced by approximately 1,000 barrels of oil equivalent per day Permian EOR was minimally impacted due to this asset area's infrastructure position.

09:03 EDT Amazon Prime Video adds Fearless to lineup of original dramatic series - Amazon announced it has added Fearless to its lineup of original dramatic series, and will premiere all six episodes exclusively on Prime Video in the U.S. on Friday, October 27. Starring BAFTA award winners Helen McCrory and Sir Michael Gambon, produced by Mammoth Screen for ITV in association with Weinstein Television, and written and executive produced by Homeland writer and Executive Producer Patrick Harbinson, Fearless is a legal conspiracy thriller following human rights lawyer Emma Banville, whose latest case will uncover a web of secrets and collusion with both personal and national repercussions. Fearless will be available for Prime members to stream and enjoy using the Amazon Prime Video app for TVs, connected devices including Amazon Fire TV, and mobile devices, or online with other Amazon Original Series online, at no additional cost to their membership.

09:01 EDT SS&C appoints CV Channagiri as Chief Information Officer - SS&C Technologies Holdings announced the appointment of CV Channagiri as Chief Information Officer for SS&C. He will be based in SS&C's New York City office and will report to Norm Boulanger, President. The office of the CIO manages a team of over 200 technologists in support of all lines of business across SS&C. Channagiri is responsible for the management of technology assets focusing on an agile, modern, cloud-first solutions. In addition, he is responsible for maintaining and improving technology uptime, resiliency, company datacenters, compliance, security, DR/BCP readiness, and technology operations. Channagiri has over 20 years of experience in technology, financial services, and media industries. Channagiri holds a bachelor's degree in Electronics and Communications from the University of Mysore, India and a master's degree in Computer Science from the University of Alabama.

09:00 EDT Caesars canceled 2017 G2E Investor & Analyst Event due to Vegas incident - In light of the tragic incident in Las Vegas, Caesars Entertainment said it would no longer be hosting its previously announced 2017 G2E Investor & Analyst Event. "We are deeply saddened by this horrific attack and offer our heartfelt sympathy to the victims and their loved ones. We are grateful to the heroic and speedy response by law enforcement and first responders."

08:50 EDT Buffett says decrease in corporate taxes would increase earnings - Warren Buffett is speaking on CNBC.

08:47 EDT Buffett says eliminating estate tax would be mistake - Warren Buffett is speaking on CNBC.

08:44 EDT Buffett says estate tax not death tax, adds he does not need tax cut - Warren Buffett is speaking on CNBC.

08:39 EDT Veru signs U.S. distribution agreement with Timm Medical for PREBOOST - Veru announced it has signed a U.S. distribution and co-promotion agreement with Timm Medical Technologies for PREBOOST for the prevention of premature ejaculation. Veru grants Timm Medical Technologies distribution and promotion rights of PREBOOST in the U.S. and its territories, and Veru retains rights to also distribute and promote PREBOOST sales in the US. Timm Medical Technologies is a medical device and pharmaceutical company specializing in marketing and sales of men's health products including STENDRA and ERECAID to over 3,000 urology practices in US. Timm Medical Technologies has approximately 32 sales representatives that will promote PREBOOST to urologists.

08:38 EDT Buffett says sold some Wells Fargo only to remain under 10% - Warren Buffett is speaking on CNBC.

08:37 EDT Buffett says Wells Fargo CEO Tim Sloan has his 'faith' - Warren Buffett is speaking on CNBC.

08:35 EDT Ultragenyx to acquire Dimension Therapeutics for $6.00 per share - Ultragenyx Pharmaceutical (RARE) and Dimension Therapeutics (DMTX) announced that they have entered into a definitive merger agreement under which Ultragenyx will acquire all of the outstanding shares of common stock of Dimension for $6.00 per share, or approximately $151M in cash, based on currently outstanding shares. The transaction is structured as a tender offer and will be funded through Ultragenyx's existing cash resources. The definitive agreement between Ultragenyx and Dimension has been approved by the boards of both companies, and follows the termination of the merger agreement between Dimension Therapeutics and REGENXBIO (RGNX), previously announced on August 25. Following discussions with both Ultragenyx and REGENXBIO, the board of Dimension determined that the Ultragenyx transaction represented a superior proposal. Ultragenyx will pay REGENXBIO a termination fee pursuant to the REGENXBIO merger agreement, on behalf of Dimension. The transaction is a compelling opportunity to create value as it combines Dimension's innovative portfolio of assets and its advanced gene therapy platform with Ultragenyx's late-stage clinical, regulatory, and commercial expertise in the rare disease space. Ultragenyx plans to maintain a gene therapy research and development unit, and a manufacturing team at Dimension's facilities in Massachusetts in order to retain the team's significant gene therapy knowledge and to efficiently progress critical manufacturing development.

08:35 EDT MobileIron to integrate Zimperium's threat detection with its engine - MobileIron and Zimperium announced that MobileIron will integrate Zimperium's machine learning-based threat detection with MobileIron's security and compliance engine and sell the combined solution. This integration will address one of the most significant mobile security gaps faced by enterprises: the ability to detect device, network, and application threats and immediately take automated actions to protect enterprise data.

08:31 EDT Bioptix announces $1.00 special dividend - Bioptix announced that its Board of Directors has authorized a special dividend of approximately $1.00 per common share in cash, payable on or about October 18 to shareholders of record as of October 13.

08:19 EDT Meritage Homes reports Q3 home closings up 9% - Meritage Homes reported its preliminary home orders, closings and backlog for the Q3. Home closings increased approximately 9% to 1,969 in the Q3 from 1,800 in the Q3 of FY16. Net orders increased approximately 8% to 1,874 in the Q3 from 1,737 in the same period of 2016. Ending backlog increased to 3,333 units at the end of third quarter of 2017, compared to 3,251 at September 30, 2016.

08:15 EDT Buffett says Trump's tax plan is tax cut act, not tax reform - Warren Buffett is speaking on CNBC.

08:12 EDT Buffett holding off on potential stock sales due to possible tax changes - Warren Buffett is speaking on CNBC.

08:09 EDT Sunworks to complete 521 kW solar, battery installation for Angelus Temple - Sunworks announced a new, 521 kW solar and battery construction for Angelus Temple in Los Angeles. Angelus Temple is the founding church for the International Church of the Foursquare Gospel, or ICFG, which now has operations in every state in the United States and many countries around the world. ICFG, with support from the Foursquare Foundation, and in partnership with Renu Energy Solutions as the solar developer, selected Sunworks to develop a hybrid solar and battery system to enable the church to achieve energy independence and environmental sustainability. The Foundation made special mention of the invaluable partnership with Robert Espinosa and Matthew Cassey of Sunworks' Southern California office. The project, which was awarded to Sunworks on September 25, 2017, will be managed entirely by Sunworks and will assist Angelus Temple by eliminating over $100,000 in annual electricity costs while also eliminating the impact of inflationary energy costs. The savings realized will allow funds to be used for greater impact within the community it serves.

08:08 EDT Gartner says worldwide IT spending to reach $3.7T in 2018 - Worldwide IT spending is projected to total $3.7T in 2018, an increase of 4.3 percent from 2017 estimated spending of $3.5T, according to the latest forecast by Gartner, Inc. Enterprise software and IT services continue to exhibit strong growth, with communications services continuing to drive the majority of spending. Software spending is projected to grow 8.5 percent in 2017, and it will grow another 9.4 percent in 2018 to total $387B. IT services spending is on pace to grow 4 percent in 2017 to reach $931B, and increase 5.3 percent in 2018 to reach $980B. The devices segment is expected to exhibit growth for the first time in two years with an increase of 5.3 percent in 2017 and 5 percent in 2018. Increased average selling prices for premium phones in mature markets, partially due to the introduction of the iPhone 8 and 10, along with an underlying demand for PCs from businesses replacing their machines with Windows 10 PCs is driving the growth in this segment.

08:07 EDT Buffett says stocks would be 'somewhat cheaper' if 10-year moved to 5% - Warren Buffett is speaking on CNBC.

08:06 EDT Izea continues to explore all options in strategic review process - IZEA provided an update on the Board of Directors' ongoing strategic review process. The IZEA Board continues to explore and evaluate strategic alternatives to enhance shareholder value. In July, IZEA engaged Waller Capital to conduct the review process. As part of the process, the company has engaged in confidential discussions with a number of strategic and financial partners and has received multiple non-binding indications of interest regarding potential strategic transactions. Parties are in various stages of engagement, review, and diligence. The IZEA board of directors intends to continue to work with its financial and legal advisors to explore all options, both internal and external to maximize shareholder value. The company plans to proceed in a timely manner, but has not set a definitive timetable for completion of this process. There can be no assurance that this review process will result in a transaction or other strategic alternative of any kind. Given the confidential nature of the discussions that the Company is undertaking, providing more detailed information at this time would be disruptive to developing the full range of potential outcomes. IZEA will provide an update to the process when and if it determines further disclosures are appropriate.

08:05 EDT Buffett says stock valuations 'make sense' given interest rate levels - Warren Buffett is speaking on CNBC.

08:04 EDT Valeant introduces Biotrue ONEday in Europe - Bausch + Lomb a division of Valeant Pharmaceuticals International, announced the introduction of Biotrue ONEday for Astigmatism daily disposable contact lenses in twenty countries in Europe. This latest contact lens advancement provides the convenience of a daily disposable with the innovation of an evolved peri-ballast design for stability and a unique dehydration barrier proven to help the lens maintain 98% of its moisture for up to 16 hours.

08:04 EDT The Interstate Group joins Hilltop Securities - Hilltop Securities announced that The Interstate Group, an institutional agency-only brokerage firm based in Charlotte, N.C., has joined HilltopSecurities. As part of the new affiliation, The Interstate Group will re-brand as The Interstate Group, A Division of HilltopSecurities, and process all transactions through HilltopSecurities. The Interstate Group has sales offices in Atlanta, Ga., and Dallas, Texas, and performs sales, trading and administrative functions out of its location in Charlotte, N.C. The group is comprised of sales, trading, operations and administrative personnel who joined the HilltopSecurities team as part of the affiliation. In addition, The Interstate Group president Grady G. Thomas, and COO Jay Thomas join HilltopSecurities as managing directors.

08:03 EDT GTT Communications acquires Transbeam for $28M in cash - GTT Communications announced the acquisition of Transbeam, a provider of managed data and voice services, for $28M in cash. The acquisition is expected to generate a post-synergy adjusted EBITDA of 5.0x or lower, with integration and cost synergies to be achieved within two quarters after close.

08:02 EDT DarioHealth launches smart diabetes platform in Germany - DarioHealth announced it expands its global reach with a successful launch into the German market, making its smart diabetes platform available for the first time in the EU's largest market, both by population and GDP. With this launch, DarioHealth is now commercially available in 9 countries around the world. DarioHealth expects the launch into the German market to help the Company reach its Q4 revenue goals and FY17 annual milestones. Diabetes is on the rise in Germany, with an estimated 10% of its 82M population living with this chronic disease.

07:57 EDT Berkshire Hathaway to become majority shareholder of Pilot Flying J in 2023 - Jimmy Haslam to continue as CEO of Pilot Flying J; Pilot Flying J headquarters to remain in Knoxville, Tennessee.

07:56 EDT Berkshire Hathaway makes 'significant' minority investment in Pilot Flying J - Berkshire Hathaway and Pilot Flying J jointly announced that Berkshire has made a significant minority investment in Pilot Travel Centers LLC, d/b/a Pilot Flying J. The Haslam family will continue to own a majority of Pilot Flying J and Jimmy Haslam will remain as chief executive officer. Pilot Flying J President Ken Parent and the company's management team will also remain in place. The company will continue to be headquartered in Knoxville, TN. Under the terms of the agreement, Berkshire will acquire a 38.6% equity stake in Pilot Flying J. The Haslam family will continue to hold a majority interest with 50.1% ownership in the company and FJ Management, Inc., owned by the Maggelet family, will retain 11.3% ownership until 2023. In 2023, Berkshire will become the majority shareholder by acquiring an additional 41.4% quity stake and the Haslam family will retain 20% ownership in the company and remain involved with Pilot Flying J. The investment by Berkshire Hathaway reflects the success of a series of transformational milestones that have allowed the Company to evolve and strengthen its capabilities and market position over the last several decades. BDT & Company, LLC advised the Company and, as part of the transaction, BDT Capital Partners, LLC exited its minority equity investment in Pilot Flying J.

07:47 EDT Jacobs named lead architect for Sydney's Concord Hospital redevelopment - Jacobs Engineering Group has been appointed by New South Wales Health Infrastructure as lead architect for the $270M, or A$341M, redevelopment of Sydney's Concord Hospital. The redevelopment will involve the delivery of a new comprehensive cancer center, additional inpatient capacity, enhanced ambulatory care services and Australia's first comprehensive care center for retired service men, women and their families - the Rusty Priest Centre for Rehabilitation and Aged Care. This facility will provide specialist services including substance and alcohol abuse programs, and services for mild traumatic brain injury, specialist pain management, psychological well-being, rehabilitation and family support.

07:39 EDT PolarityTE announces FDA registration of SkinTE - PolarityTE announced that the company's lead product, SkinTE, has been registered with the FDA pursuant to applicable regulations governing human cells, tissues, and cellular and tissue-based products, or HCT/Ps. SkinTE is an autologous, minimally manipulated construct intended for homologous uses of skin tissues. As an FDA-registered HCT/P, SkinTE may now be made available for appropriate human use in the United States. PolarityTE has initiated a controlled, limited-market release of the product to select medical institutions, and expects to accelerate commercialization in 2018 as the company scales up manufacturing efforts.

07:36 EDT CME Group reports September ADV 17M contracts, up 13% y/y - CME Group announced that September average daily volume, or ADV, reached 17M contracts, up 13% compared with September 2016. CME Group September 2017 options volume averaged 3.6M contracts per day, up 25% versus September 2016, with electronic options averaging 2.4M contracts per day, up 36% from the same period last year. Open interest at the end of September was 114M contracts, up 11% from the end of September 2016.

07:33 EDT Allergan announces FDA approval of BOTOX Cosmetic for its third indication - Allergan announced the FDA approval of BOTOX Cosmetic for its third indication, the temporary improvement in the appearance of moderate to severe forehead lines associated with frontalis muscle activity in adults. This approval makes the brand the first and only neurotoxin indicated for three facial treatment areas - forehead lines, crow's feet lines and glabellar lines. 1 As the category leader, BOTOX Cosmetic is also the only neurotoxin brand to receive approval of aesthetic indications beyond glabellar lines in the U.S.

07:32 EDT Nimbus Therapeutics, Celgene enter strategic alliance for immunology - Nimbus Therapeutics announced the initiation of a long-term strategic alliance with Celgene Corporation in immunology. Under the terms of the agreement, Celgene will receive an option to acquire each program in the alliance up through a clinical inflection point. Nimbus will receive an upfront payment and potential downstream milestone payments for each program Celgene chooses to acquire. Nimbus will retain full control of research and development activities for each program prior to the program's option point. Financial terms will remain undisclosed until Celgene acquires a program. The Nimbus programs covered under the alliance include a preclinical effort targeting Tyk2, a signal-transduction kinase for key pro-inflammatory cytokine receptors, including IL-23, IL-12 and type-I interferons. Because of its central role in the inflammatory response, Tyk2 is a high-potential target for the treatment of autoimmune disorders including rheumatoid arthritis, lupus, Crohn's disease, psoriasis and multiple sclerosis. The alliance also covers Nimbus' preclinical small-molecule STING antagonist program, which seeks to block the role played by STING in the activation of the innate immune system in lupus and other interferonopathies. Nimbus will continue to own and develop its small-molecule STING agonist program for immuno-oncology, which is not part of the agreement.

07:30 EDT Redhill Boipharma trading resumes

07:18 EDT RedHill Biopharma says BEKINDA Phase II clinical study met primary endpoint - RedHill Biopharma announced positive top-line results from the Phase II clinical study of BEKINDA 12 mg for the treatment of diarrhea-predominant irritable bowel syndrome, or IBS-D. The randomized, double-blind, placebo-controlled Phase II study evaluated the efficacy and safety of BEKINDA 12 mg in 126 subjects over 18 years old at 16 clinical sites in the U.S. Subjects were randomized 60:40 to receive either BEKINDA 12 mg or placebo, once daily, for a period of eight weeks. BEKINDA 12 mg Phase II study successfully met its primary endpoint, improving the primary efficacy outcome of stool consistency response by an absolute difference of 19.4%, with 54.7% responders of subjects treated with BEKINDA vs. 35.3% responders of the placebo subjects. These top-line results compare favorably with previously reported efficacy outcome values for stool consistency response from two Phase III studies of Xifaxan 550 mg and two Phase III studies of Viberzi 100 mg. BEKINDA 12 mg was also shown to be safe and well tolerated. No serious adverse events, new or unexpected safety issues were noted in the study, suggesting the potential of BEKINDA 12 mg, if approved, to become a first-line standard of care treatment for IBS-D.

07:03 EDT Methode Electronics acquires Pacific Insight - Methode Electronics announced that it has completed the acquisition of Pacific Insight Electronics, a global lighting, electronics and full-service solutions provider to the transportation industry, in a cash transaction. Methode funded the total consideration of approximately $114M with available cash and its existing credit facility. Methode expects the acquisition to be accretive to earnings in its current fiscal year ending April 28, 2018. Methode will update guidance to include the acquisition of Pacific Insight and any other relevant factors in conjunction with its second-quarter earnings release. The company expects pre-tax costs related to the acquisition in the range of $4.8M-$5.2M, of which $1.5M was recognized in Q1.

07:02 EDT Americas Silver announces first shipments of San Rafael concentrates - Americas Silver announced that first processing of ore from its San Rafael Project occurred in the last week of September, 2017 from development stockpiles. The first lead and zinc concentrates produced from the Company's newly modified Los Braceros Mill have been shipped to the Port of Manzanillo from the Cosala Operations in Sinaloa, Mexico. The reconfigured flotation circuit at the Los Braceros Mill has been successfully commissioned. Initial milling rates, metal recoveries and concentrate grades are meeting expectations and approaching steady-state targets set out in the April 2016 San Rafael Pre-Feasibility Study. The Company expects San Rafael to be the sole source of mill feed by the end of November, 2017 with commercial production expected before the end of the fourth quarter. Five development headings are currently accessing ore in the southern lobe of the Main Zone at San Rafael and will be stockpiled while the existing Nuestra Senora ore is processed. The Nuestra Senora mine is expected to be put on care and maintenance by the end of 1Q18, although additional material is available to supplement mill feed, if required. "Initial concentrate deliveries were on time, met internal targets and third party specifications," said Darren Blasutti, President and CEO. "Despite a transitional third quarter, the start-up of the San Rafael mine and continued strengthening of zinc and lead prices sets-up our fourth quarter and next year for significantly reduced all-in-sustaining costs and free cash flow. We expect to use this cash flow to further explore, develop and organically grow our large and prospective silver reserves and resources without equity dilution."

07:01 EDT 3M completes sale of electronic monitoring business for approx. $200M - 3M announced that it has completed the sale of its electronic monitoring business to funds advised by Apax Partners, a global private equity advisory firm, for approximately $200M net of cash sold and closing adjustments. The electronic monitoring business is a provider of electronic monitoring technologies, serving hundreds of correctional and law enforcement agencies around the world. Annual sales of the business are approximately $95M. Approximately 265 3M employees who support the electronic monitoring business are expected to transfer in connection with the sale. 3M will record approximately a 12c per share benefit in the fourth quarter from this divestiture.

06:56 EDT Merck to present data from chronic hepatitis C clinical development programs - Merck announced that data from the company's chronic hepatitis C clinical development programs and real-world studies are scheduled to be presented at The Liver Meeting 2017. These data presentations include new analyses of ZEPATIER, or elbasvir and grazoprevir, in real-world settings and follow-up analyses from Phase 3 clinical trials, including findings from the C-EDGE CO-STAR three-year observational follow-up study evaluating chronic hepatitis C virus, or HCV, reinfection incidence and risk behaviors in patients who were treated with ZEPATIER while on opioid agonist therapy. The Liver Meeting 2017 will take place in Washington, D.C., from Oct. 20-24.

06:50 EDT International Game, Chill Gaming announce distribution agreement - International Game and Chill Gaming announce a multi-year distribution agreement whereby IGT is the sole distributor of Chill Gaming products worldwide outside of Australia and New Zealand. Chill Gaming, derived by blending the words "chance" and "skill," is a joint venture between Crown Resorts and New Gaming Pty Ltd, which is owned by the founders of Wymac Gaming Solutions. Chill Gaming will focus on producing a range of innovative casino experiences aimed at creating value, entertainment, and engaging a broad demographic of players.

06:46 EDT GlobalSCAPE promotes Peter Merkulov to Chief Technology Officer - GlobalSCAPE announced that Peter Merkulov has been promoted to Chief Technology Officer, or CTO,. In addition to leading the product strategy, product management, product marketing and technology alliances teams, Merkulov will now oversee the engineering and quality assurance teams. With this new role as CTO, Merkulov will be charged with overseeing the entire portfolio of Globalscape products including the Enhanced File Transfer platform, its managed file transfer technology, and Kenetix, its integration platform as a service solution. Merkulov will also be driving the opportunities to enhance and innovate Globalscape's current offerings, as well as identifying new and adjacent markets for alliances, development or acquisitions. Peter Merkulov has more than 16 years of experience in the IT security industry, specifically in product and business development. He previously served as the Vice President of Product Strategy and Technology Alliances for Globalscape, where he has played the key role in the effort to break into new markets with Kenetix and broaden EFT's cloud offerings.

06:29 EDT eMarketer sees Snap's worldwide ad revenue at $774.1M this year - Snapchat's (SNAP) worldwide ad revenues will total $774.1M this year, but growth will be slower than eMarketer predicted a year ago, eMarketer said yesterday. Although many advertisers remain on the sidelines, Snapchat's ad products are tantalizing for some because of its creative capabilities, its highly engaged user base and its emerging reputation as an alternative to Facebook (FB). However, several factors, including slower-than-expected user growth, have led eMarketer to lower its ad revenue outlook for Snapchat. In March 2017, eMarketer predicted Snapchat's worldwide ad revenues would reach $900M for the year. eMarketer expects Snapchat's US ad revenues will total $642.5M this year. That's down from $770M eMarketer predicted in March 2017, and from $805 million forecast in July 2016. However, eMarketer expects strong growth over the next two years, with US ad revenues topping $2B by 2019. That's down from eMarketer's March 2017 forecast of $2.2B for 2019. Snapchat is still on track to surpass Twitter (TWTR) in US ad revenues next year. eMarketer projects Snapchat will rake in $1.18B in revenues, vs. $1.16Bfor Twitter. In 2019, Snapchat will pull well ahead, with US ad revenues that will nearly double Twitter's. Despite all of its improvements in ad products and measurement, Snapchat remains in the experimental bucket for many marketers. They give it high marks for its creative possibilities and its ability to attract a youth audience, but many have yet to make it a must-buy. Reference Link

06:22 EDT Herbalife: Florida lawsuit 'without merit,' will defend against claims - In a regulatory filing, Herbalife said that on September 18, the company and certain of its subsidiaries and members were named as defendants in a purported class action lawsuit, titled Rodgers, et al. v Herbalife Ltd., et al. and filed in the U.S. District Court for the Southern District of Florida, which alleges violations of Florida's Deceptive and Unfair Trade Practices statute and federal Racketeer Influenced and Corrupt Organizations statutes, unjust enrichment, and negligent misrepresentation. The Company believes the lawsuit is without merit and will vigorously defend against the claims in the lawsuit.

06:18 EDT Jana: EQT investors should vote against 'overpriced' Rice Energy acquisition - In a letter to EQT's (EQT) board, Jana Partners says "As you know, JANA Partners believes that EQT Corporation shareholders should vote against the overpriced and dilutive acquisition of Rice Energy (RICE) and that EQT should immediately commit to a separation through a spinoff of its midstream business. As set forth in Exhibit A, EQT has published a map of the combined EQT/Rice land holdings that appear to show vast tracts of contiguous acreage which can be efficiently drilled by the combined company, and thus would produce the 1,200 wells with 12,000 foot laterals in Washington and Greene counties that are the linchpin of EQT's rationale for the transaction. Exhibit B, however, shows that EQT's map is blatantly deceptive. With the help of a leading petroleum engineering firm with extensive experience in the Appalachian basin and experienced industry operators, and using publicly available information, we have magnified EQT's map and it is obvious that many of the tracts which appear contiguous never actually touch. This means that for EQT to fulfill its promises with respect to longer drilling laterals, three things would need to be true: EQT would need to have access to the hundreds of plots of land between EQT and Rice drilling areas. However, this would require an unquantified and likely very large expenditure of time and capital in addition to the $8.2 billion EQT proposes to pay for Rice, and in any event is highly unlikely given that, as shown in Exhibit C, these properties are largely controlled by other operators. If these lots were readily accessible, presumably EQT or Rice would have already purchased or leased them. This additional required acreage would need to be undrilled. However, our work shows that hundreds of wells have already been drilled in the adjacent acreage. The lots already controlled by EQT and Rice that abut the additional required acreage would need to not have any wells already drilled by EQT or Rice along the abutting borders. However, Exhibit D makes clear that this is not the case. In short, an accurate analysis of the undeveloped combined EQT and Rice acreage cannot support anything close to the 1,200 well locations that EQT management says can be drilled to 12,000 foot lateral lengths. There simply is not the real estate to support management's claims. We are presenting our latest findings in detail because we think every Board member should see for themselves the distance between the transaction they have attempted to sell to shareholders and reality, and ask themselves whether they think they have complied with their fiduciary duty in evaluating this proposed acquisition and presenting it to shareholders. We also believe that the Board's insistence on putting the Rice transaction to a shareholder vote before announcing how it intends to address the company's persistent sum of the parts discount, in fact even before it begins consideration of this issue, is completely inexcusable. The Board is in effect asking shareholders to overlook EQT's history of value-destroying acquisitions and foot-dragging on addressing its undervaluation and trust that the Board will make the right decision for shareholders after winning approval to acquire Rice. If it was not clear before, we think it is crystal clear now that the Board has not earned that trust. he case for opposing the Rice acquisition, demanding immediate action to address EQT's persistent sum of the parts discount, and evaluating significant Board change at EQT is stronger than ever."

06:08 EDT ITUS receives notice of NASDAQ continued listing compliance - ITUS announced that it has received formal notice from the Listing Qualifications Staff of The NASDAQ Stock Market LLC that the company has regained compliance with the minimum bid price requirement of The Nasdaq Stock Market as required for continued listing on The Nasdaq Capital Market. On August 18, 2017, the company was notified by NASDAQ that it no longer met the minimum bid price requirement for continued listing, and the August 18 matter is now closed.

06:03 EDT RadNet reports announces NantWorks founder's investment in the company - RadNet reported that entities affiliated with NantWorks founder, Patrick Soon-Shiong, purchased 1.1M shares of RadNet Common Shares in a private sale with HFB Heirs' Family Trust. The purchase price was determined by a modified formula of the 30 trading days' closing price of RadNet shares and was affected in a private sale with a trust for the benefit of the heirs of Howard Berger. RadNet and the entities affiliated with Soon-Shiong, including Verity Health System and NantWorks, recently announced strategic relationships related to breast cancer, clinical trials, high speed fiber optics and artificial intelligence.

06:01 EDT Microsoft to bring Spotify to Groove Music Pass customers - Microsoft says in a blog post, "With the continued advancement of music streaming today, all the world's music has become easily accessible across a variety of devices, unlocking new ways to discover and experience music. As we continue to listen to what our customers want in their music experience we know that access to the best streaming service, the largest catalog of music, and a variety of subscriptions is top of the list. Which is why we're excited to announce that we're expanding our partnership with Spotify to bring the world's largest music streaming service to our Groove Music Pass customers. Beginning this week, Groove Music Pass customers can easily move all their curated playlists and collections directly into Spotify. Plus, you may be eligible for a 60-day free trial of Spotify Premium. We will continue to invest in and update the Groove Music app on all Windows devices to support playback and management of owned music, but after December 31, 2017, the Groove Music app will no longer offer the option to stream, purchase, and download music." Reference Link

05:54 EDT KBR awarded $52M FAA security systems maintenance contract - KBR announced that its global government services business, KBRwyle, was awarded a $52M contract to provide maintenance for security systems and equipment for the Federal Aviation Administration. Under the terms of the contract, over the next five years KBRwyle will maintain the security systems and equipment of more than 500 FAA locations nationwide that ensure the safety of U.S. national air space. The company has provided similar services to the FAA since 2011.

05:49 EDT Sonoma Pharmaceuticals announces U.S. commercialization of Loyon - Sonoma Pharmaceuticals announced the U.S. commercialization of the company's new Loyon product. Under the supervision of a healthcare practitioner, Loyon is intended to manage and relieve the scaling, erythema, and itching associated with various types of dermatoses including seborrhea and seborrheic dermatitis.

05:45 EDT Celyad reports first complete response in THINK trial - Celyad announces exciting early clinical results of the first dose-level in the hematological arm of its THINK trial. Christian Homsy, CEO of Celyad comments, "We are pleased to have demonstrated the first objective clinical response of CYAD-01 as this is the very first time a relapsed, refractory AML patient has reached a MLFS with gene-engineered T cells without pre-conditioning lymphodepletion nor additional other concurrent treatment to CYAD-01 administration. This success further reinforces our confidence in our approach and the validity of NKG2D ligands as a target. We will now use the collected data to move forward with the next stage of our product development: reinforcing responses in as many clinical settings as possible." One AML patient has achieved a MLFS after administration with CYAD-01 at the H. Lee Moffitt Cancer Center and Research Institute.

05:34 EDT Kayne Anderson MLP reports net assets $2B at Sep. 30 - Kayne Anderson MLP provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 as of September 30. As of September 30, the company's net assets were $2.0 billion, and its net asset value per share was $17.36. As of September 30, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 405% and the company's asset coverage ratio under the 1940 Act with respect to total leverage was 291%.

05:32 EDT Kayne Anderson Midstream/Energy Fund reports net assets $344M at Sep. 30 - Kayne Anderson Midstream/Energy Fund provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 as of September 30. As of September 30, the Fund's net assets were $344M and its net asset value per share was $15.63. As of September 30, the Fund's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 479% and the Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 355%.