Stockwinners Market Radar for October 30, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:18 EDT Allegiant Travel names Scott Sheldon COO, CFO - Allegiant Travel has appointed Scott Sheldon to serve as both its chief operating officer and chief financial officer. Sheldon officially assumed the role of chief operating officer on October 24, 2017. He had previously served as interim chief operating officer since May 2017. Sheldon has served as Allegiant's chief financial officer since 2010. He joined Allegiant in 2004 as director of accounting, and served as principal accounting officer from 2007 to 2010 prior to his appointment as CFO.

19:03 EDT CVD Equipment enters into contract to buy Central Islip facility for $13.85M - CVD Equipment announced that it has entered into a contract to purchase a 180,000 square foot facility in Central Islip, NY to serve as headquarters for its CVD Materials Corporation subsidiary. The result of a robust evaluation process including bids and discussions from neighboring states and other locations within New York State and a comprehensive lease vs. buy analysis, the facility was chosen for its proximity, incentives offered, and overall lower capital outlay to establish the capabilities needed to support the anticipated growth of the business. With a purchase price of $13.85M to be financed 75% by a commercial long-term mortgage and with state and local incentive grants, we anticipate closing within 90 days. Until full capacity is needed the Company plans to enter into sub-leasing agreements with third parties for approximately half of the facility. The new facility, a five-minute walk from CVD Equipment's existing Central Islip headquarters, will provide the manufacturing, engineering, process development, and administration for CVD Materials' product lines.

18:54 EDT Engaged Capital 'commends' Rent-A-Center for initiating review of alternatives - Engaged Capital with a 20.5% economic exposure to Rent-A-Center, issued a statement in respect of its investment in Rent-A-Center. "Engaged Capital commends the Company's Board of Directors on initiating a long overdue strategic alternatives review process to unlock value for all stockholders. Engaged Capital believes that Rent-A-Center remains an attractive acquisition opportunity. We believe the Company's strong cash flow generation, liquidity and leadership position in the attractive rent-to-own industry combine to underpin potential transaction price ranges that would allow both stockholders and a potential acquirer to realize significant value. While Rent-A-Center previously failed to pursue credible bids at meaningful premiums to the prevailing stock price earlier this year, we wholly expect the Board and senior management team to earnestly pursue strategic alternatives for the benefit of all stockholders following today's announcement. Engaged Capital is also pleased to see that the apparent impediment in the boardroom towards running a strategic alternatives process has been removed. Engaged Capital encourages the Company to expeditiously begin the due diligence process with the numerous publicly reported strategic and financial buyers that have already provided indications of interest in acquiring Rent-A-Center, beginning with the opening $15 per share bid from Buddy's/Vintage Capital. Engaged Capital reminds the Board that our analysis shows that a strategic acquirer could realize $300 million or more of synergies and operational improvements, as noted in our May 2, 2017 investor presentation. This analysis should provide further confidence to the Company in running a successful strategic review process. We applaud the Rent-A-Center directors who have finally realized that evaluating strategic alternatives is the best path forward to maximizing value for all stockholders and expect that the Board will run an objective, expedient and successful process."

18:02 EDT AT&T, T-Mobile, Verizon awarded $198.7M government contract - AT&T Mobility National Accounts (T), doing business as AT&T Mobility, T-Mobile (TMUS), and Cellco Partnership, doing business as Verizon Wireless (VZ), are being awarded an estimated $198,700,000 indefinite-delivery/indefinite-quantity, firm-fixed-price contract for wireless services and devices in support of the Navy, Marine Corps, Army, Air Force, other Department of Defense agencies, and federal agencies. The contract will include a one-year base period and four one-year option periods which if exercised, the total value of this contract will be $993,500,000. Work will be performed at various locations throughout the U.S. and percentage of work cannot be determined at this time. Work is expected to be completed by November 2018; if all options are exercised, work will be completed by November 2022. Fiscal 2018 operations and maintenance funds in the amount of $15,000 will be obligated and funds will not expire at the end of the current fiscal year. This contract was competitively procured with the solicitation posted to the Navy Electronic Commerce Online website, with four offers received. Naval Supply Systems Command Fleet Logistics Center San Diego, San Diego, California, is the contracting activity.

17:35 EDT CryoLife cuts FY17 product revenue outlook - Product revenues:Sees FY17 year-over-year low-single digits % non-GAAP revenue increase vs. prior view of year-over-year mid-single digits % non-GAAP revenue increase.

17:31 EDT Granite Construction awarded $28M contract by Hensel Phelps - Granite Construction announced that it has been awarded a $28M design-build light rail sub-contract by Hensel Phelps for the Operations & Maintenance Facility East project in Bellevue, Washington. The contract will be included in Granite's Q3 backlog. The OMF East project is part of the light rail improvements for Sound Transit's growing public transit network and will serve as a fully functional light rail maintenance and operations facility for the storage and maintenance of 96 light rail vehicles. Construction is scheduled to begin in late 2017 and is scheduled to be complete by late 2020.

17:30 EDT Basswood Capital reports 9.84% passive stake in Community Financial

17:14 EDT Goldman Sachs reports 15.4% passive stake in Golden Entertainment

17:02 EDT First Bank reports Q3 provision for loan losses up $425,000 vs last year - Provision for loan losses for the Q4 totaled $716,000, an increase of $425,000 compared to $291,000 for the Q3 of FY16, and a decrease of $90,000 compared to $806,000 for the linked Q3 of FY17. Net charge-offs were $348,000 for the Q3, compared to $30,000 for Q3 of FY16 and $22,000 for the Q2 of FY17. Net charge-offs as an annualized percentage of average loans were 0.13% in Q3, compared to 0.01% for the Q3 2016.

16:53 EDT Noble Midstream sees Q4 oil and gas gathering volumes to average 110-120 MBoe/d - Sees oil and gas gathering volumes 15% to 26% above the Q3 average. After Q3 produced water gathering volumes more than doubled from Q2, Q4 volumes are expected to grow between 41% and 79% above Q3 records.

16:47 EDT Omega Healthcare raises quarterly dividend rate to 65c per share from 64c

16:43 EDT Rosehill Resources expands Delaware Basin position - Rosehill Resources announced that it has agreed to acquire up to 9,100 net undeveloped acres and certain producing oil and gas properties in the Southern Delaware Basin. The agreement remains subject to customary closing conditions and purchase price adjustments. The purchase price is $77.6M for the initial identified 4,565 net acres, which includes producing properties with limited production of 40 Boepd; subject to certain conditions. Rosehill may acquire up to an additional 4,535 net acres at the same price per net acre.

16:42 EDT PDL BioPharma 'disappointed' by Neos Therapeutics' rejection of buyout proposal - PDL BioPharma (PDLI) issued the following statement in response to the Neos Therapeutics (NEOS) Board of Directors' rejection of PDL's October 26 proposal to acquire Neos for $10.25 per share in cash: "While we are not surprised by the response, we are disappointed that Neos' Board of Directors has rejected a proposal to acquire the company at a premium of more than 40 percent and refuses to engage in a constructive dialogue with us on behalf of its shareholders. PDL has a number of investment opportunities before it, of which Neos is only one. PDL's proposal remains outstanding through November 8, 2017. PDL will evaluate all of its options in the interim."

16:36 EDT CNX Coal Resources sees FY17 coal sales 6.50M-6.75M tons - Sees FY17 adjusted EBITDA $95M-$102M and maintenance capital expenditures of $23M-$27M.

16:31 EDT Kosmos Energy completes drilling the Hippocampe-1 exploration well - Kosmos Energy announced that it has completed drilling the Hippocampe-1 exploration well located in Block C-8 offshore Mauritania in approximately 2,600 meters of water. Designed to test Lower Cenomanian and Albian reservoirs charged from the deeper Valanginian - Neocomian source, the Hippocampe-1 well was drilled to a total depth of 5,500 meters. Well-developed reservoirs were encountered in both exploration targets but these proved to be water bearing. The well will now be plugged and abandoned. It is believed that this prospect failed due to a lack of charge access in this part of the play fairway. Andrew G. Inglis, chairman and chief executive officer, said: "Following on from our Yaakar discovery earlier this year, Hippocampe-1 is the second of four tests of independent prospects located in the outboard basin floor fan fairways in our Mauritania and Senegal acreage. Although the well did not encounter oil or gas, it has, together with Yaakar, confirmed the presence of quality cretaceous reservoir in the outboard basin floor fans, which contain multiple leads and prospects, more than 200 kilometers from the north to south through our blocks. We are still in the early stages of opening this newly emerging basin and our forward drilling program remains unchanged given the independent nature of the prospect tests, in particular with regard to charge." The Ensco DS 12 drillship will now proceed as planned to Block C-12 offshore Mauritania to test the independent Lamantin oil prospect. The Lamantin prospect is located approximately 80 kilometers offshore and 180 kilometers northeast of Hippocampe in 2,185 meters of water. The prospect comprises Campanian age reservoirs charged from the shallow, immediately underlying, oil prone, oil mature Albian and Cenomanian-Turonian source rocks.

16:27 EDT The ONE Group names Emanuel Hilario president, CEO - The ONE Group Hospitality announced that the board of directors has appoitned board member Emanuel "Manny" Hilario to the position of CEO, effective immediately. Jonathan Segal will become Executive Chairman and will be focused on global licensing and business development opportunities. Jonathan Segal, the company's current Chief Executive Officer, will transition to the role of Executive Chairman of the company, and will be focused on continuing and fine tuning the established asset light growth strategy to expand through licensing and management deals, as well as focusing on business development and expanding the brand globally. In conjunction with Segal's appointment, Michael Serruya will step down as Chairman of the company's board, but will remain a director.

16:25 EDT Rosehill Resources trading halted, news pending

16:21 EDT Installed Building Products acquires A+ Insulation, terms not disclosed - Installed Building Products announced the acquisition of A+ Insulation, LLC. Founded in 2004, A+ Insulation serves the Kansas City market through one branch location. The company provides primarily spray foam and fiberglass insulation installation services for single-family residential, multi-family, and commercial customers. "With trailing-twelve month revenue of $3.8M, A+ Insulation expands our footprint to the Kansas City market," stated Jeff Edwards, Chairman and Chief Executive Officer. "Prior to this acquisition, IBP did not have a presence in this market, and we are excited to begin serving residential, multi-family, and commercial customers in greater Kansas City. Since July, we have entered the insulation markets in Kansas City, Louisville and Las Vegas. Our pipeline of potential acquisitions remains robust with potential acquisitions in new geographies, products and end markets."

16:20 EDT CarMax COO Cliff Wood to retire - CarMax announced that Cliff Wood plans to retire as executive vice president and chief operating officer by the end of the summer of 2018 and will be succeeded by Ed Hill, currently CarMax's executive vice president, strategy and business transformation. CarMax also announced that, effective November 1, 2017, two additional executives will be promoted. Darren Newberry will be promoted to senior vice president, store operations, and Joe Wilson will be promoted to senior vice president, store strategy and logistics.

16:18 EDT ICF International awarded $13M task order - The Centers for Disease Control and Prevention, or CDC, Office on Smoking and Health has awarded ICF a new task order to administer the agency's National Youth Tobacco Survey, or NYTS, a national, comprehensive survey that examines the behaviors, knowledge and attitudes of students in grades six through 12 toward tobacco and tobacco use. The task order has a value of over $13M and a term of five years including one base and four option years.

16:17 EDT Voyager sinks after Sanofi opts out of Parkinson's program - Shares of Voyager Therapeutics (VYGR) are down 19% in after-hours trading to $18.50 after the company announced that Sanofi Genzyme (SNY) decided not to exercise its rights to the VY-AADC program for advanced Parkinson's disease. As a result, Voyager gained full worldwide development and commercial rights to VY-AADC for the treatment of advanced Parkinson's disease. "We are very pleased to gain full worldwide rights to our Parkinson's disease program that recently demonstrated robust and durable clinical effects from the ongoing Phase 1b trial," said Steven Paul, Voyager's CEO. He added, ""Sanofi Genzyme remains an important collaborator for Voyager, and we remain fully committed to progressing our Huntington's disease and Friedreich's ataxia programs under the ongoing collaboration."

16:14 EDT John B. Sanfilippo says challenges growing Fisher nut brand to continue in FY18 - CEO Jeffrey Sanfilippo said, "As we mentioned earlier, a major customer informed us that it will be replacing small and some medium package sizes of Fisher recipe nuts with private brand recipe nuts. In preparation for this transition, this customer purchased fewer branded recipe nuts during the first quarter than it did in last year's first quarter. Consequently, we expect that challenges in growing the Fisher recipe nut brand from fiscal 2017 performance will continue during the remainder of fiscal 2018. We anticipate that this reduction in Fisher recipe nut sales will have an unfavorable impact on net sales, sales volume and gross profit. We believe that the declines in net sales and sales volume for Fisher recipe nuts should be offset by continuing sales volume growth in contract packaging, private brand snack nuts and trail mixes and Orchard Valley Harvest produce products in fiscal 2018. These anticipated sales volume increases, coupled with a decrease in compensation expense for fiscal 2018, should largely offset the anticipated decline in gross profit in such future quarters."

16:08 EDT CoreCivic appoints Patrick Swindle as Chief Corrections Officer - CoreCivic announced that Patrick Swindle, who currently serves as the company's senior VP of Operations, has been selected to succeed Harley Lappin as the company's executive VP and Chief Corrections Officer effective January 1, 2018. Lappin intends to retire from his position as Chief Corrections Officer after a 33-year career as a corrections administrator.

16:07 EDT Sanmina reports Q4 adjusted operating margin 3.5%

16:05 EDT Voyager Therapeutics gains full worldwide rights to VY-AADC program - Voyager Therapeutics announced an update to its VY-AADC program for advanced Parkinson's disease. Under Voyager's collaboration agreement with Sanofi Genzyme, Sanofi Genzyme had an exclusive option for ex-U.S. development and commercial rights to VY-AADC. Based on Voyager's understanding that because this option did not include rights in the U.S., Sanofi Genzyme informed Voyager that it has decided not to exercise its rights to this program. As a result, Voyager gains full worldwide development and commercial rights to VY-AADC for the treatment of advanced Parkinson's disease.

16:02 EDT Teva names Kare Schults president, CEO - Teva Pharmaceutical Industries announced that Kundefinedre Schultz will join the company as President and CEO, effective November 1, 2017. As previously announced on September 11, 2017, Schultz succeeds Dr. Yitzhak Peterburg, who is serving as interim CEO. chultz has been appointed to the Teva Board of Directors, effective November 1, 2017. Dr. Peterburg will remain on the Teva Board of Directors and stand for election at the 2019 Annual Meeting of Shareholders.

16:02 EDT Western Refining Logistics trading halted, news dissemination

14:55 EDT J.B. Hunt director sells 100,000 common shares - In a regulatory filing, J.B. Hunt director Earl Wayne Garrison disclosed the sale of 100,000 common shares of the company at a price of $109.2944 per share.

14:07 EDT Pershing: ISS 'diverged from its stated policy' in ADP recommendation - Pershing Square Capital Management sent a letter to ISS regarding ADP. In the letter, Pershing accused ADP of providing "non-public, inaccurate and misleading information, claims and arguments" about the proxy contest between ADP and Pershing Square, such arguments which were "relied upon" by ISS. Pershing Square then claimed that ISS "diverged from its stated policy" of basing recommendations based only on publicly disclosed information.

13:22 EDT Abbott: Patients treated with Xience stent had similar LT outcomes to surgery - Abbott announced that patients who underwent minimally-invasive implantation with a XIENCE coronary stent for left-main coronary artery disease had the same long-lasting health outcomes at three years but felt better more quickly than patients who underwent open-heart surgery. The data were presented during a late-breaking session at the 29th Transcatheter Cardiovascular Therapeutics meeting, the annual scientific symposium of the Cardiovascular Research Foundation. After one month, patients who underwent percutaneous coronary intervention with XIENCE reported significantly greater freedom from angina; no difficulty breathing; and significantly fewer symptoms of clinical depression than patients who had surgery. The significantly fewer symptoms of clinical depression extended to one year for XIENCE patients versus surgery patients and were comparable by year three. Eighty-one percent of patients in the XIENCE group reported freedom from chest discomfort at three years compared with 82 percent in the surgery group. Forty-three percent of patients who received XIENCE vs 42 percent of surgery patients reported no difficulty in breathing at year three. The findings were consistent across different types of patients including people with diabetes, frequent chest pain before treatment and people over the age of 75.

13:18 EDT Braskem halts for volatility after jumping 9% to $32.02

13:07 EDT Sprint trading resumes, shares down 66c to $6.33

13:07 EDT Dish rallies 3% after Nikkei says SoftBank ending Sprint, T-Mobile talks - Shares of AT&T (T) and Verizon (VZ) are also lower along with Sprint (S) and T-Mobile (TMUS).

13:03 EDT Sprint halted for volatility after dropping 39c to $6.60 - Shares of T-Mobile (TMUS) are down 3% to $61.24.

13:01 EDT Sprint trading halted, volatility trading pause

11:56 EDT PG&E names James Welsch as Chief Nuclear Officer - Pacific Gas and Electric Company announced that it has named James Welsch, currently VP, Nuclear Generation, as the utility's new Chief Nuclear Officer, and has appointed Jon Franke as its VP, Power Generation, both effective November 1. Welsch will continue to be responsible for the continued safe, efficient, and reliable operations of Diablo Canyon Power Plant, which is located in Avila Beach, Calif. He will also serve as the utility's lead contact with the Nuclear Regulatory Commission (NRC) and the Institute of Nuclear Power Operations, and oversee the company's focus on nuclear safety. Franke, who currently serves as vice president, Generation Technical Services, will now lead PG&E's Power Generation organization as vice president, Power Generation, with responsibility for the continued safe and reliable operation of the company's natural gas, hydroelectric and renewable power plant fleet. In addition, he will continue to lead utility functions related to power plant decommissioning.

11:31 EDT Dollar General names Rob Scruggs chief digital and customer engagement officer - Dollar General (DG) announced that Rob Scruggs has joined the company as chief digital and customer engagement officer, a newly created position in which he will lead the strategy for customer engagement including digital experience and tools. Scruggs most recently served as global director of client experience for Bank of America Merrill Lynch (BAC) where he had responsibility for the end-to-end client experience for global commercial clients.

11:21 EDT Polaris Industries recalls about 19,000 ROVs due to crash hazard - Polaris Industries notified the CPSC that it is recalling about 19,000 Polaris General side-by-side recreational off-highway vehicles as the steering wheel shaft can shift and detach while in use, resulting in a loss of control and crash hazard. This recall involves model year 2016 and 2017 Polaris General 2- and 4-seat side-by-side recreational off-highway vehicles. Polaris has received five reports of the steering shaft separating and one report of a broken hand injury.

11:13 EDT Bristol-Myers rises after Merck pulls cancer drug combo filing in Europe - Shares of Bristol-Myers Squibb (BMY) are on the rise after competitor Merck (MRK) announced it is withdrawing its European application for a combination regimen featuring Keytruda, the company's cancer immunotherapy drug. Following the news, SunTrust analyst John Boris upgraded the former's stock to Buy as he believes Merck's KN-189 data delay and withdrawal of its European application for Keytruda improves Bristol-Myers' competitive position. Meanwhile, several Wall Street analysts downgraded Merck to hold-equivalent ratings. EUROPEAN WITHDRAWAL: Merck has announced that it has withdrawn its European application for Keytruda in combination with pemetrexed and carboplatin as a first-line treatment for metastatic nonsquamous non-small cell lung cancer. The application was based on findings from KEYNOTE-021, Cohort G. Merck said it is confident in the clinical data from this "rigorously conducted trial," which demonstrated significant improvements in overall response rate and progression-free survival for the Keytruda combination regimen compared to chemotherapy alone. BUY BRISTOL-MYERS: In a research note to investors this morning, SunTrust's Boris upgraded Bristol-Myers to Buy from Hold and raised his price target on the shares to $75 from $55, saying Merck's KN-189 data delay to 2019 and withdrawal of its EU first-line NSCLC filing improves Bristol's competitive position. Boris noted he models an additional $2B in 2021 revenue as a result, adding that he has increased confidence in the Opdivo + Yervoy arm of the Checkmate-227 trial expected in 2018 to generate overall survival benefits. Additionally, the analyst told investors that he views Bristol-Myers as an attractive strategic asset that could make sense to get a potential bid from Pfizer (PFE). However, such a scenario depends on macro factors such as tax reform and/or repatriation and "binary events" in the marketplace, including the read-out from the company's 227 trial. MERCK DOWNGRADES: Following the Keytruda news, Barclays analyst Geoff Meacham downgraded Merck to Equal Weight from Overweight based on diminished upside potential from Keytruda, which is the company's biggest value driver. With the formal withdrawal of the EU filing in front-line NSCLC and delays to the Phase 3 KN-189 trial from adding overall survival as a co-primary endpoint, the analyst argued that he sees less upside potential for Keytruda sales in lung cancer. While he does not think this means I/O rivals will "leapfrog" Merck, Meacham pointed out that both Bristol-Myers and Roche (RHHBY) could have front-line NSCLC data in late 2017/early 2018 that could further weigh on sentiment. He was not the only analyst cutting Merck's rating this morning. Morgan Stanley analyst David Risinger also downgraded the stock to Equal Weight from Overweight on similar reasons. The analyst noted that the negative Keytruda updates caused him to lower projections, while adding that Keytruda's lung cancer readout delay limits sales and exposes Merck to competitive threats. Meanwhile, SunTrust analyst John Boris downgraded Merck to Hold from Buy and lowered his price target on the shares to $54 from $73 to reflect lower Keytruda sales. The analyst also argued that Merck's HCV/HIV and Zostavax vaccine franchises face significant competitive headwinds, anticipating an added headwind to the bottom line as the company is unable to reduce its R&D or SG&A expenses to preserve its immuno-oncology position. PRICE ACTION: In morning trading, shares of Bristol-Myers have gained over 2% to $61.16, while Merck's stock has dropped almost 5% to $55.41.

10:51 EDT Care.com move lower attributed to circulation of cautious research report - Shares of Care.com are down 5% to $14.84 in morning trading. Reference Link

10:46 EDT Pershing Square demands ADP provide details or retract 'misleading' claim - Pershing Square Capital Management demanded that ADP provide detailed support or immediately retract its misleading claim that its plan released to shareholders on September 12th will result in increased net operational margins of "500 basis points" in three years. "Pershing Square's extensive research has highlighted ADP's significant underperformance relative to its competitors and its potential. We have called for an operational transformation to meaningfully increase ADP's efficiency and margins, as well as a commitment to build a best-in-class technology organization to increase growth... None of these communications - media appearances by CEO Carlos Rodriguez, a video for shareholders featuring Chairman John P. Jones and CEO Carlos Rodriguez, press releases publicly stating ADP's case, and appearances by former board members serving as advocates for ADP's position - includes a mention of ADP's actual published plan to increase margins by just 100-200 basis points. The fact that ADP discusses its purported net operational margins without distinguishing the difference between this figure and reported margins also causes shareholders to draw the wrong conclusions."

10:26 EDT Goldman Sachs says sell GM now with potential downside ahead - Shares of General Motors (GM) are slipping after Goldman Sachs analyst David Tamberrino downgraded the stock to Sell as he expects a negative earnings inflection in 2018. This follows another downgrade last week, as Morgan Stanley analyst Adam Jonas cut his rating for General Motors to Equal Weight, telling investors that Auto 2.0 expectations may be too high. SELL GENERAL MOTORS: In a research note to investors this morning, Goldman Sachs' Tamberrino downgraded General Motors to Sell from Neutral, noting his price target of $32 offers 28% potential downside. Looking ahead into 2018 and given the current valuation level, the analyst noted that he sees a downward inflection in General Motors earnings, while a normalization in the annual rate of U.S. vehicle industry sales coupled with the company's product launches next year should weigh on GMNA profitability. Further, Tamberrino argued that his work on pickup trucks and crossovers suggest that the company likely experiences volume and mix headwinds that exacerbate the cyclical profit headwinds. Ford's (F) recently refreshed F-Series leaves GM vulnerable to share loss in 2018, he contended. Overall, the analyst continues to believe the North American auto cycle has peaked and is set to normalize, remaining Cautious on the sector and seeing mostly downside to shares in his automaker coverage. MOVING TO THE SIDELINES: Last week, Morgan Stanley's Jonas downgraded General Motors to Equal Weight from Overweight following the stock's 40% rise over the past year, which he attributes to investors having "finally noticed" the company's "bold and difficult moves" to reposition the core business for a longer duration of success. However, the analyst argued that his thesis that GM could change the narrative and drive its share price higher has played out, and investor expectations may have gotten "a bit ahead of themselves." Following discussions with a wide group of investors, Jonas pointed out that the consensus seems to be that the company is "substantially" ahead of the competition in the arena of fully autonomous transportation and expectations are also high on General Motor's ability and willingness to unlock hidden value of such a business through strategic action. Moreover, he noted that market expectations for the value of such a move is "well in to the many tens of billions of dollars," which greatly exceeds his estimates of $1B-$2B. Furthermore, Jonas also highlighted the execution risk of a "highly ambitious" autonomous strategy. PRICE ACTION: In morning trading, shares of General Motors have dropped nearly 3% to $43.44. However, year-to-date the stock remains up by about 25%.

10:11 EDT Insys says questions from Nasdaq answered, awaits trading resumption - Insys Therapeutics, subsequent to the trading hold placed on its stock on Thursday after market close, received a series of questions on Friday from Nasdaq, the company announced. "Those questions have been addressed, and the company is awaiting response from Nasdaq regarding the resumption of trading," the company stated.

09:52 EDT Can-Fite BioPharma enrolls first patient in ACRobat Phase 3 of Piclidenoson - Can-Fite BioPharma announced the first patient has been enrolled and dosed in its Phase III ACRobat trial to evaluate its lead drug candidate, Piclidenoson, as a first line treatment and replacement for the current standard of care, Methotrexate, the most widely used drug for rheumatoid arthritis. The primary endpoint of ACRobat is low disease activity after 12 weeks of treatment in patients dosed with Piclidenoson compared to those dosed with MTX. Piclidenoson at 1 mg and 2 mg, or placebo, will be administered twice daily, and MTX or placebo will be administered once weekly. The total study duration will be 24 weeks in order to provide more data on long term efficacy and safety. This randomized, double-blind, active and placebo-controlled study will enroll approximately 500 patients through clinical sites in Europe, Israel and Canada.

09:50 EDT Liberty Expedia Holdings (Series B) trading resumes

09:31 EDT Utopia announces extension of global reseller agreement with SAP - Utopia Global announced that as a part of its global reseller agreement with SAP, SAP will resell Utopia's Enterprise Asset Management Workbench solution under the name SAP Asset Information Workbench by Utopia.

09:26 EDT Briggs & Stratton to move engines production to it manufacturing facilities - Briggs & Stratton announced that it will move production of its V-Twin Vanguard engines from a joint venture partnership in Japan to its existing manufacturing facilities in Statesboro, Georgia and Auburn, Alabama. The increased production in North America will create approximately 50 new jobs at each of the facilities. Production of V-Twin Vanguard engines in the Company's U.S. plants is expected to be phased in beginning in the middle of 2018 through the middle of 2019.

09:23 EDT NewLink Genetics announces FDA orphan-drug designation for Indoximod - NewLink Genetics announced that indoximod, its leading drug development candidate, was granted orphan-drug designation by the U.S. Food and Drug Administration for the treatment of patients with Stage IIb-IV melanoma.

09:21 EDT Iconix Brand: Wal-Mart won't renew DanskinNow license beyond January 2019 - Iconix Brand Group (ICON) announced several important developments including the wind down of the DanskinNow brand at Walmart, the amendment of its senior secured term loan, a new exclusive Starter collection on Amazon, and the dismissal of pending securities class action lawsuits previously filed against the Company and certain of its current and former officers and directors. The company announced that it has been informed by Walmart (WMT) that the DanskinNow license, which is a diffusion of the Danskin brand, will not be renewed beyond January 2019. As a result, royalty revenue for the Danskin brand is estimated to decline approximately $15.5M in 2018. Danskin, which is one of the most trusted brands for women's fitness apparel, will continue to be distributed to leading retailers including Lord & Taylor, Costco and TJMaxx. Longer term, the transition out of Walmart provides the opportunity to relaunch and expand the core Danskin brand in other venues. Due to certain developments, including the transition of the Danskin brand, the Company forecasted that it would unlikely be in compliance with certain of its financial debt covenants in 2018. As a result, the Company recently engaged in discussions with its lenders to provide relief under its financial debt covenants and entered into an amendment of its senior secured term loan facility. As part of those negotiations, the Company agreed to reduce the size of the credit facility by approximately $75 million to $225 million. Prior to entering into the amendment, the Company had already used $59 million of the escrowed proceeds made available under the original term loan facility to repay a portion of its 2018 convertible notes and accrued interest. The remaining balance of $165.7 million was restructured as a delayed draw term loan to be utilized to refinance the Company's 2018 convertible notes when they come due in March 2018, subject to satisfaction of certain conditions precedent, including the raising of additional funds through various sources in an aggregate amount of at least $100 million, as further described in the Company's Form 8-K filed. The new arrangement will result in near term interest savings for the Company as the undrawn amounts are subject to a 4% ticking fee rather than the higher marginal interest rate under the original term loan facility. As part of its ongoing efforts to strengthen its balance sheet, which included the sale of selected assets and the repayment of certain outstanding debt, the Company continues to actively evaluate various capital raising options to repay debt as well as strategic alternatives, which could include the sale of certain assets or of the entire Company. Iconix is working with Guggenheim Securities, LLC as its financial advisor in connection with these efforts.

09:16 EDT C&J Energy Services to divest Canadian rig services to CWC Energy Services - C&J Energy Services announced that it has entered into a definitive agreement to divest of its Canadian rig services business to CWC Energy Services for C$37.5M in cash. The transaction includes the Company's Canadian fleet of 75 workover rigs, 13 swabbing rigs and the real estate associated with six operating facilities throughout Western Canada. The divestiture is expected to be completed in early November.

09:13 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Diamond Offshore (DO), up 2.5%... Loews (L), up 4.3%. ALSO HIGHER: Advanced Accelerator (AAAP), up 10.1% following an announcement that it will be acquired by Novartis (NVS)... Novartis is up just under 1%... Dynegy (DYN), up 13.6% following an announcement that it will combine with Vistra Energy (VST). DOWN AFTER EARNINGS: First Data (FDC), down 2.2%... Roper Technologies (ROP), down marginally... Cooper Tire (CTB), down 6.3%. ALSO LOWER: Vistra Energy is down 1.3% after the merger announcement.

09:07 EDT Viveve launches direct sales of GENEVEVE treatment to physicians - Viveve Medical announced the launch of direct sales of the GENEVEVE treatment to physicians and healthcare providers in Canada. Delivered by the internationally patented Viveve System, the GENEVEVE treatment improves sexual function by treating the vaginal introitus, after vaginal childbirth. Educational materials and informational sessions that address the value and clinically proven benefits of the GENEVEVE treatment are available throughout Canada for healthcare providers, and their female patients.

09:07 EDT Vistra Energy sees continuing debt reduction after Dynegy deal closes

09:04 EDT RPM acquires Ekspan Holdings, terms not disclosed - RPM International announced that its USL Group has acquired Ekspan Holdings Limited, a provider of movement control products and services for bridges and major structures. Headquartered in Sheffield, United Kingdom, Ekspan has annual net sales in excess of $10M. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed. Established in 1990, Ekspan designs, manufactures and installs a range of specialty bridge bearings and expansion joints, as well as custom engineered solutions for bridges, high-rise buildings, wind turbines and other structures. Its products are used for new construction projects, as well as the refurbishment and replacement of existing installations. Among its high-profile projects is the iconic London Tower Bridge. The acquiring entity, UK-based Universal Sealants Limited, is a specialist civil engineering and construction company focusing on bridges, tunnels, car parks, rail, airports and utility projects globally. It manufactures, supplies and installs construction products including bridge expansion joints, waterproofing membranes, protective coatings, structural drainage solutions, as well as a range of grouts, mortars, sealants and adhesives.

09:02 EDT Scholastic appoints Kenneth Cleary as CFO - Scholastic announced that Kenneth J. Cleary, Scholastic's Senior Vice President, Chief Accounting Officer, has been named CFO effective, following termination of Maureen O'Connell's employment as CFO and Chief Administrative Officer. With Cleary's promotion to CFO, Paul Hukkanen, Vice President, External Reporting and Compliance becomes Vice President, Chief Accounting Officer and Vincent Lucinese becomes Vice President, Controller and Shared Services Support. Kenneth Cleary has been Senior Vice President, Chief Accounting Officer since September 2014. Prior to that, he was Vice President, External Reporting and Compliance since joining Scholastic in May 2008.

09:01 EDT Vistra Energy sees deal adding $315M to combined 2018 adjusted free cash flow

08:57 EDT Affiliated Managers sees $100M of share repurchases in Q4 - Says "very encouraged" by organic growth profile. Sees GAAP tax rate approx. 34% in Q4. Sees cash tax rate 27% in Q4. Sees interest expense $19.5M in Q4. Says plans to repurchase approx. $100M in Q4. Comments taken from the Q3 earnings conference call.

08:50 EDT Stantec acquires North State Resources - Stantec is bolstering its growing environmental service presence and capabilities across northern California by acquiring Redding, California-based North State Resources. Founded in 1986, NSR is a 60-person environmental consulting firm with additional offices in Sacramento and Chico, California. The transaction closed on Friday, October 27.

08:48 EDT Vistra CEO sees regulatory approvals for Dynegy deal taking approx. 6 months - Vistra Energy (VST) CEO Curt Morgan said he will announce the entire leadership team for the combined Vistra-Dynergy within the next few weeks. Expects necessary regulatory approvals to take approximately months to complete. Morgan says Dynegy (DYN) assets "very valuable" in their markets. Comments taken from the companies' conference call discussing their tax-free, all-stock transaction.

08:44 EDT L3 Technologies receives production contract for Army Apache MUMT-X program - L3 Technologies has received a production contract for multiple awards totaling $97M in support of the U.S. Army's Apache Manned/Unmanned Teaming - eXpanded Capabilities helicopter program. By enabling communications and data teaming between manned and unmanned aircraft, MUMT-X provides the Apache AH-64E with a transformational warfighting capability that is significantly more robust, lighter and less expensive than the original Unmanned Aircraft System control system. This award follows the successful completion of a 2015 MUMT-X communications upgrade contract in which L3 delivered state-of-the-art systems for high-speed transmissions of wideband video and data. As part of this phase of the program, L3 will supply tested and certified Apache MUMT-X above rotor Unmanned Aerial System Receive technology solutions to support MUMT operations and Air-to-Air-to-Ground line-of-sight data links. This work will be executed by L3 Communication Systems-West, which is part of the company's Communication Systems business segment.

08:40 EDT Marrone Bio receives EPA approval for biological fungicide - Marrone Bio Innovations has received approval from the U.S. Environmental Protection Agency on its newest biological fungicide, Stargus. This product is the sixth product commercialized by MBI in only 11 years. The product is based on a new strain of Bacillus amyloliquefaciens discovered by MBI, targeted to downy mildews, white molds, Botrytis gray mold and bunch rot. The fungicide also controls pathogenic soil fungi, including diseases such as Fusarium and Rhizoctonia, as shown in field trials in the U.S., Canada and Europe. Stargus is the new brand name and will be focused on specialty crops such as grapes, and leafy greens. It will also be labeled for use on root and bulb vegetables such as potatoes, carrots and onions. MBI expects first sales when state registrations are granted.

08:39 EDT Celsius Holdings begins distribution in China - Celsius Holdings announced it has begun distribution of the brand into the China market through its partner, Qifeng Food Technology, a privately-held wholesale distributor of food products. The initial distribution began in September and will cover select channels across three Tier-1 cities including: Beijing, Guangzhou and Shenzhen, as well as over 30 other cities across 14 provinces. The initial launch of the locally-produced CELSIUS drink flavors include Sparkling Cola and Raspberry Acai Green Tea. Widespread product distribution is scheduled for the summer of 2018 through Qifeng Food's network of more than 500 distributors.

08:37 EDT Endo sees FY17 adjusted EPS $3.35-$3.65, consensus $3.52 - Sees FY17 revenues $3.38B-$3.53B, consensus $3.47B. The Company further expects adjusted EBITDA to be at the upper end of the FY17 financial guidance ranges provided in August of $1.48B-$1.56B.

08:35 EDT Neos Therapeutics board unanimously rejects PDL BioPharma proposal - Neos Therapeutics (NEOS) announced that its Board of Directors has unanimously rejected the October 26 unsolicited proposal from PDL BioPharma (PDLI) to acquire all of the outstanding shares of Neos for $10.25 per share in cash. Neos noted that PDL's October proposal is identical in all material respects to proposals received in June, July and September from PDL, which were also reviewed and unanimously rejected by the Neos Board. After a comprehensive review, conducted in consultation with its financial and legal advisors, the Neos Board affirmed its previous determinations that PDL's proposal undervalues Neos, does not reflect Neos' strategic value and future prospects for continued growth and value creation, and is not in the best interests of the Company or Neos shareholders. Vipin K. Garg, Ph.D., President and CEO of Neos Therapeutics, said, "We are successfully executing the Company's strategy and believe we are well positioned to deliver enhanced value to Neos shareholders in both the near- and long-term. PDL's proposal is opportunistic and its interest underscores Neos' growth and value creation prospects as an independent company. We believe many of Neos' largest shareholders support this view. While the Board is confident in Neos' strategic direction, we are committed to serving the best interest of all Neos shareholders and remain open to considering all options to deliver on the Board and management's value creation objectives."

08:32 EDT Neos Therapeutics board unanimously ejects PDL BioPharma proposal - Neos Therapeutics (NEOS) announced that its Board of Directors has unanimously rejected the October 26 unsolicited proposal from PDL BioPharma (PDLI) to acquire all of the outstanding shares of Neos for $10.25 per share in cash. Neos noted that PDL's October proposal is identical in all material respects to proposals received in June, July and September from PDL, which were also reviewed and unanimously rejected by the Neos Board. After a comprehensive review, conducted in consultation with its financial and legal advisors, the Neos Board affirmed its previous determinations that PDL's proposal undervalues Neos, does not reflect Neos' strategic value and future prospects for continued growth and value creation, and is not in the best interests of the Company or Neos shareholders. Vipin K. Garg, Ph.D., President and CEO of Neos Therapeutics, said, "We are successfully executing the Company's strategy and believe we are well positioned to deliver enhanced value to Neos shareholders in both the near- and long-term. PDL's proposal is opportunistic and its interest underscores Neos' growth and value creation prospects as an independent company. We believe many of Neos' largest shareholders support this view. While the Board is confident in Neos' strategic direction, we are committed to serving the best interest of all Neos shareholders and remain open to considering all options to deliver on the Board and management's value creation objectives."

08:31 EDT Fulton Financial announces termination of consent orders for three subsidiaries - Fulton Financial Corporation announced that the Office of the Comptroller of the Currency has terminated the Consent Orders that it issued on July 14, 2014 to three of its bank subsidiaries, Fulton Bank, N.A., FNB Bank, N.A. and Swineford National Bank, relating to deficiencies in the Bank Secrecy Act and anti-money laundering compliance programs at those banks. "We are pleased with this acknowledgement of the significant progress we have made in strengthening our BSA/AML compliance programs and remediating the deficiencies identified in the OCC Consent Orders," said E. Philip Wenger, Chairman, President and CEO. "We continue to work diligently to achieve a similar resolution with respect to the BSA/AML enforcement actions issued to our other bank subsidiaries."

08:24 EDT Strayer, Capella Education: Approx $50M in one-time costs to achieve synergies - Comments from presentation slides.

08:16 EDT Varian Medical appoints Terilyn Juarez Monroe as Chief People Officer - Varian Medical Systems announced it has named Terilyn Juarez Monroe as Chief People Officer, senior vice-president, Human Resources effective October 30. Ms. Monroe, 50, is replacing Wendy Scott who is retiring after serving in this same role at Varian for 13 years. Monroe served the past two years as the Chief People & Culture Officer, SVP HR at Acxiom. During that time, she and her team of 75 HR employees partnered with leaders from across the business to drive transformational change in service, accelerate business performance and inspire a great place to work. Prior to Acxiom, Monroe spent 13 years at Intuit where she held several HR management roles, including Chief Diversity Officer and Director of Talent Engagement.

08:15 EDT Medallion Financial adds Allan Tanenbaum to board, expanding board to 9 - Medallion Financial announced that its Board of Directors has appointed Allan Tanenbaum as an independent director, effective immediately. Tanenbaum's appointment expands the Board to nine members, six of which are independent directors. Tanenbaum will be a member of the company's Compensation Committee. Tanenbaum is currently Of Counsel at Taylor English.

08:12 EDT TowerJazz, Yuanchen Microelectronics announce partnership for BSI - TowerJazz announced a partnership with Changchun Changguang Yuanchen Microelectronics Technology, or YCM, a BSI process manufacturer for backside illumination, or BSI, manufacturing in Changchun, China to provide the BSI process segment for CMOS image sensor, or CIS, wafers manufactured by TowerJazz. This partnership will allow TowerJazz to serve its worldwide customers with advanced BSI technology in mass production, at competitive prices, starting in the middle of 2018.

08:08 EDT Cardiome begins commercial launch of Xydalba in three European countries - Cardiome Pharma announced that it has initiated the commercial launch of Xydalba in Sweden, Finland and the Republic of Ireland. Xydalba is approved by the European Medicines Agency, or EMA, for the treatment of Acute Bacterial Skin and Skin Structure Infections in adults.

08:07 EDT Apollo Endosurgery to present intragastric balloon data at ObesityWeek - Apollo Endosurgery announced the presentation of the largest global review of intragastric balloons titled "Brazilian Intragastric Balloon Consensus after more than 40,000 cases" at ObesityWeek 2017 - the combined annual meetings for both American Society for Metabolic & Bariatric Surgery and The Obesity Society. This presentation reported the results of a consensus meeting held in Sao Paulo, Brazil in June 2016 of 39 endoscopists with up to 17 years of experience providing intragastric balloon therapy to patients. The group aggregated retrospective data on their experience with intragastric balloons in over 40,000 cases. The expert meeting was held to discuss and evaluate clinical and technical aspects of intragastric balloons with the aim of reaching a consensus on best practice guidelines based on scientific literature and their extensive experience. The threshold for inclusion in the meeting was a minimum experience of 300 intragastric balloon procedures. Key data reported encompassed experience from 41,886 intragastric balloon procedures conducted by the endoscopists: Mean percentage total body weight loss of all patients was 18.4%. ORBERA was used in 78.2% of the reported intragastric balloon procedures. Adverse event rate after the adaptation period was 2.5%, the most common being hyperinflation and device deflation. Of the five types of intragastric balloons discussed, ORBERA had the lowest incidence of adverse events at 2.0%. Early removal rate due to intolerance was 2.2%. There were twelve deaths during the presence of an intragastric balloon, of which three were considered device related.

08:04 EDT Southern Properties Capital, Regis Property Management sign lease - Regis Property Management leased over four hundred thousand square feet so far for 2017. These leases were achieved with new and renewing tenants representing over $32M in gross effective rent. Regis's most significant transaction was in Southern Properties Capital asset Browning Place, located in the Mercer Crossing mixed use development. Pacific Union Financial expanded into new space increasing their footprint by over 132,000 square feet. Pacific Union is a full-service mortgage company, located in Irving, Texas, with fulfillment centers in Texas, California, Virginia, and North Carolina and more than 40 branch locations across the country. Pioneer RX, an industry leading pharmacy software development and support company, also expanded their current lease to include the entire 20,000 square foot top floor of Southern Properties Capital asset 600 Las Colinas. Both deals were brokered by Transwestern and Jones Lang LaSalle. Other new and renewed tenants include Liberty Bankers Life Insurance Company, PBK Architects, CHC Helicopter Services, and NTT Data Consulting. Southern Properties Capital LTD, a British Virgin Islands corporation is an indirect subsidiary of Transcontinental Realty Investors.

08:04 EDT Vodafone Australia signs enterprise software and services deal with Splunk - Splunk (SPLK) announced that Vodafone Australia (VOD) has entered into a multi-year Enterprise Software and Services Agreement. The agreement enables expansion of the Splunk platform across the organization to strengthen operations, network visibility and reporting. Vodafone's investment significantly enhances its ability to investigate and resolve customer-facing and back-end issues, delivering a positive customer experience by providing proactive and predictive insights into customer needs.

08:03 EDT Allergan receives Imported Drugs License from CFDA to market Ozurdex - Allergan announced that it has received an Imported Drugs License from the Chinese Food and Drug Administration to market Ozurdex for the treatment of adult patients with macular edema following either Branch Retinal Vein Occlusion or Central Retinal Vein Occlusion.

08:02 EDT Syros Pharmaceuticals: SY-1365 demonstrated anti-tumor activity in cancer models - Syros Pharmaceuticals announced that new preclinical pharmacodynamic and pharmacokinetic data providing a rationale for the twice weekly dosing regimen currently being used in the ongoing Phase 1 clinical trial of SY-1365, its first-in-class selective cyclin-dependent kinase 7 inhibitor, in advanced solid tumors were presented at the 2017 AACR-NCI-EORTC Molecular Targets and Cancer Therapeutics Conference in Philadelphia. Syros scientists evaluated the relationship between SY-1365's PK, PD and anti-tumor activity in multiple in vivo models, including preclinical models of triple negative breast cancer and acute myeloid leukemia, across a range of doses and regimens from daily to weekly dosing. SY-1365 is a covalent inhibitor that binds irreversibly to CDK7. The data showed: A prolonged PD effect, as measured by CDK7 target occupancy, with a half-life of about three days, supporting intermittent dosing. A dose-dependent relationship between CDK7 target occupancy and anti-tumor activity in a preclinical model of AML. Sustained tumor regressions in multiple in vivo models using a twice weekly dosing regimen consistent with the initial regimen in the ongoing Phase 1 clinical trial. CDK7 target occupancy in blood cells in preclinical models similar to that seen in tumor cells, supporting the use of an assay measuring target occupancy in patients' blood samples as a PD marker in the ongoing Phase 1 trial to help guide optimization of the dose and regimen to establish a recommended Phase 2 dose. The Phase 1 trial of SY-1365 is a multi-center, open-label trial that is expected to enroll approximately 70 patients with advanced solid tumors. The primary objective of the trial is to assess the safety and tolerability of escalating doses of SY-1365, with the goal of establishing a maximum tolerated dose and a recommended Phase 2 dose and regimen. The dose-escalation phase is open to solid tumor patients for whom standard curative or palliative measures do not exist or are no longer effective. Following the dose-escalation phase, expansion cohorts are planned to further evaluate the safety and anti-tumor activity of SY-1365 in patients with triple negative breast, small cell lung and ovarian cancers, to confirm a recommended Phase 2 dose and regimen, and to enroll patients with tumors of any histology in a cohort focused on analyzing biopsied tumor tissue.

07:47 EDT Vistra Energy, Dynegy: Combined board to include 8 from Vistra, 3 from Dynegy - In presentation slides ahead of their conference call, Vistra Energy (VST) and Dynegy (DYN) say deal projected to create nearly $4B in incremental equity value. Sees $350M recurring EBITDA benefits, $65M additional recurring free cash flow benefits, $2B-$2.5B tax synergies. Notes that the transaction does not trigger change of control on Dynegy's or Vistra Energy's debt or Vistra Energy's tax receivable agreement obligations. The board of the combined company will include 8 from Vistra Energy, 3 from Dynegy. Closing could occur as early as 2Q18.

07:40 EDT TELUS to acquire Xavient Information Systems

07:34 EDT Extreme Networks sees accretion to FY18 EPS from Brocade data center purchase - Extreme Networks (EXTR) announced that it has completed its acquisition of Brocade Communications System's (BRCD) data center switching, routing and analytics business. Extreme continues to anticipate the transaction will be accretive to cash flow and earnings for its fiscal year 2018, which began on July 1, and expects to generate over $230M in annualized revenue from the acquired assets.

07:32 EDT Centrus Energy, ORNL sign contract valued at $16M - Centrus Energy has signed a contract with UT-Battelle, LLC, as operator of the U.S. Department of Energy's Oak Ridge National Laboratory, to continue advancing the AC100, a U.S. gas centrifuge uranium enrichment technology, at the company's facilities in Oak Ridge, Tenn. The new contract is valued at $16M with payments made upon completing certain defined milestones, and runs through September 30, 2018. Under the contract, Centrus' scientists, engineers, and operators will test improvements developed by the company for the AC100 centrifuge machine in specialized facilities in Oak Ridge. Centrus has worked under contract with ORNL since 2014 to improve the AC100 gas centrifuge technology to support national security and energy security needs.

07:32 EDT Micronet Enertec subsidiary awarded $3.1M order - Micronet Enertec Technologies announced that its Mobile Resource Management, or MRM, subsidiary Micronet., via its wholly owned subsidiary Micronet, received a purchase order valued at approximately $3,100,000 for its recently released SmartHub-TREQr5 product. The SmartHub-TREQr5 is an innovative ruggedized telematics, Android on-board computer optimized for Internet of Things and fleet management applications. This order also includes a $100,000 renewable yearly license for Micronet's Guardian System Design, a cloud based Software-as-a-Service platform

07:22 EDT TrendForce: Samsung could expand production capacity in DRAM market - During the recent two years, limited increase in production capacity and challenges related to technology migration have slowed down the growth of DRAM supply, according to DRAMeXchange, a division of TrendForce. "Contract prices of DRAM products began to climb in the second half of 2016, particularly driven by the strong demand in the year-end busy season. The DRAM market since then has continued to see surging prices. However, there are reports that Samsung (SSNLF) is considering expanding its production capacity to increase competition and raise the barrier for market entry. Thus, there is a possibility that the tight supply for DRAM may end sooner than originally anticipated. SK Hynix and Micron (MU) are now flushed with cash after benefiting from several quarters of rising prices, and they are also in a great position to improve their competitiveness. SK Hynix is now transitioning to the 18nm node and will be building its second fab in the Chinese city of Wuxi next year. Meanwhile, with the cash and resources at hand, SK Hynix will be able to proceed with its plans smoothly and on schedule. As for Micron, its rising stock price has given the company an opportunity to pursue capital increase by cash. This signals that Micron is preparing to build new fabs, expand production capacity or upgrade its manufacturing technology. The gains made by SK Hynix and Micron as well as their recent activities are unlikely to have escape Samsung's notice. Therefore, Samsung may in response expand its DRAM production capacity to main its lead in the market."

07:14 EDT NewLink Genetics treatment of stage IIB to IV melanoma granted orphan status - NewLink Genetics' indoximod was granted FDA orphan designation as a treatment of stage IIB to IV melanoma granted orphan status, according to a post to the agency's website. Reference Link

07:08 EDT Sierra Oncology reports preclinical data for Chk1 inhibitor, SRA737 - Sierra Oncology reported preclinical data supporting the ongoing clinical development strategy for its Chk1 inhibitor, SRA737. The results were presented in a poster on October 29th at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics held in Philadelphia, Pennsylvania. "The data generated from these experiments are consistent with recent findings from our research and demonstrate that a potent and selective Chk1 inhibitor such as SRA737 can effectively synergize with sub-therapeutic doses of gemcitabine to induce replication catastrophe and tumor cell death," said Dr. Alan Eastman, Professor at the Geisel School of Medicine at Dartmouth and the founding Director of the Molecular Therapeutics Research Program of the Norris Cotton Cancer Center at Dartmouth-Hitchcock. "I look forward to results from the clinical study Sierra is conducting which translates this novel strategy for the treatment of patients with advanced cancers."

07:07 EDT Sonus remains committed to attain $40M-$50M in savings in FY17 - The company said "We have completed extensive Sonus and GENBAND integration planning with significant first day integration execution underway and remain committed to attaining the $40M-$50M of annual cost savings anticipated when we announced our plans this past May. As a combined company, our product offerings are even more strategic to customers, and our scale will allow us to invest even more in key areas as both service providers and enterprises migrate to fully-virtualized, cloud architectures."

07:05 EDT Abbott receives CE Mark for XIENCE Sierra - Abbott announced it received CE Mark for XIENCE Sierra, the newest generation of the company's gold-standard XIENCE everolimus-eluting coronary stent system. CE Mark allows sale of the device in the European Union and other countries that recognize CE Mark. Advances in this generation of XIENCE - which is known for its exceptional safety - include new features that make it easier for cardiologists to successfully complete complex procedures that now account for up to 70% of cases.

07:04 EDT Cooper Tire sees FY17 operating margin near high end of 8%-10% range - Management expectations for the full year 2017 include: Consolidated operating margin near the high end of the company's previously announced mid-term target of 8%-10%. Effective tax rate in a range between 30%-33%. Capital expenditures to range between $190M-$210M.

07:03 EDT GW Pharmaceuticals completes rolling Epidiolex NDA submission to FDA - GW Pharmaceuticals, along with its U.S. subsidiary Greenwich Biosciences, announced it has completed the rolling submission of a New Drug Application to the FDA for Epidiolex as adjunctive treatment of seizures associated with Lennox-Gastaut syndrome, or LGS, and Dravet syndrome, two highly treatment-resistant forms of childhood-onset epilepsy. The NDA for Epidiolex is supported by data from three Phase 3 safety and efficacy studies, each of which met their primary endpoint. The company plans to file a Marketing Authorization Application in Europe for Epidiolex in the near future.

07:01 EDT Bristol-Myers announces EMA validated type II variation application for Opdivo - Bristol-Myers Squibb announced that the European Medicines Agency, or EMA, validated its type II variation application, which seeks to expand the current indications for Opdivo, or nivolumab, to include the treatment of patients with melanoma who are at high risk of disease recurrence following complete surgical resection. Validation of the application confirms the submission is complete and begins the EMA's centralized review process.

07:01 EDT Aviragen trading halted, news dissemination

06:59 EDT Vistra Energy, Dynegy to combine in tax-free, all-stock transaction - Vistra Energy (VST), the parent company for TXU Energy and Luminant, and Dynegy (DYN) announced that their Boards of Directors have approved, and the companies have executed, a definitive merger agreement pursuant to which Dynegy will merge with and into Vistra Energy in a tax-free, all-stock transaction, creating the leading integrated power company across the key competitive power markets in the United States. The resulting company is projected to have a combined market capitalization in excess of $10 billion and a combined enterprise value greater than $20 billion. Under the terms of the agreement, Dynegy shareholders will receive 0.652 shares of Vistra Energy common stock for each share of Dynegy common stock they own, resulting in Vistra Energy and Dynegy shareholders owning approximately 79 percent and 21 percent, respectively, of the combined company. Based on Vistra Energy's closing share price of $20.30 on October 27, 2017 and the aforementioned exchange ratio, Dynegy shareholders would receive $13.24 per Dynegy share. Through the all-stock transaction, both Vistra Energy and Dynegy shareholders are expected to benefit from an estimated $350 million in projected annual run-rate EBITDA value levers, additional annual free cash flow value levers of approximately $65 million, and approximately $500-600 million in projected net present value benefit from tax synergies. The combined company is projected to achieve approximately $350 million in annual run-rate EBITDA value levers by streamlining general and administrative costs, implementing fleet-wide best-in-class operating practices, driving procurement efficiencies, and eliminating other duplicative costs. Vistra Energy estimates the full run-rate of EBITDA value levers will be achieved in approximately 12 months of closing. The companies anticipate closing the transaction in the second quarter of 2018. The transaction is subject to certain regulatory approvals, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and approval by the Federal Energy Regulatory Commission, the Federal Communications Commission, the Public Utility Commission of Texas, the New York Public Service Commission, and other customary closing conditions. The transaction is subject to approval by the shareholders of Vistra Energy and Dynegy. In addition, the transaction will not require any refinancing of Vistra Energy's or Dynegy's debt, but preserves flexibility for opportunistic refinancing at, or after, closing.

06:58 EDT Vistra Energy, Dynegy to combine in tax-free, all-stock transaction

06:56 EDT Merrimack receives FDA orphan drug designation for MM-121 - Merrimack Pharmaceuticals announced that the FDA has granted orphan drug designation to MM-121, its investigational drug candidate, for the treatment of heregulin positive non-small cell lung cancer. MM-121 is a fully human monoclonal antibody designed to block tumor survival signals and enhance the anti-tumor effect of combination therapies by targeting the cell surface receptor HER3 in patients with high expression of the biomarker heregulin.

06:31 EDT Constellation Brands to acquire minority stake in Canopy Growth Corporation - Constellation Brands announced that it has signed an agreement to acquire a minority stake in Ontario, Canada-based Canopy Growth Corporation, a well-respected public company and leading provider of medicinal cannabis products. The investment is expected to approximate C$245M representing an ownership interest of 9.9% of Canopy Growth Corporation, plus warrants which give Constellation Brands the option to purchase an additional ownership interest in the future. The transaction is expected to close during the company's third quarter of fiscal 2018.

06:18 EDT Summit Materials raises FY17 CapEx view to $180M-$190M from $140M-$160M - The upwardly revised capital spending guidance includes incremental investments related to discretionary organic growth investments, land/reserve acquisitions, together with acquisition-related maintenance expenditures.

06:11 EDT Liberty Coca-Cola Beverages acquires territory from Coca-Cola Company - Liberty Coca-Cola Beverages announced that it has closed its deal to acquire territory from The Coca-Cola Company across the New York Tri-State Metro area. The definitive agreement, signed October 28, 2017, comes approximately five months after The Coca-Cola Company announced a letter of intent with the bottling partner as part of a broader plan to refranchise its operations in North America. Liberty Coca-Cola officially opened its doors today, and welcomes more than 4,600 associates to its family. The new bottler's areas of service includes the cities of Philadelphia and New York, part of Delaware, the state of New Jersey, Long Island, parts of Hudson Valley, NY, and Fairfield County, CT. Liberty Coca-Cola will operate four production facilities and ten distribution centers throughout the region. Financial terms of the Liberty Coca-Cola Beverages agreement are not being disclosed.

06:07 EDT Strayer, Capella Education to combine in an all-stock merger of equals - Strayer Education (STRA) and Capella Education Company (CPLA) announced that they have agreed to combine in an all-stock merger of equals transaction, creating a national leader in education innovation. Strayer will be the remaining corporate entity under which both universities will operate. Strayer University and Capella University will continue to operate as independent and separately accredited institutions, together serving approximately 80,000 students across all 50 states. Both universities will maintain their separate Boards, be led by their current Presidents and maintain faculty and academic support service positions separately at each respective institution. The combination is expected to achieve corporate level efficiencies that will enable each university to accelerate innovations that improve affordability, and enhance academic and career outcomes for students. The broader, more diversified product offering of the combined company will provide for a more balanced revenue mix. With a strong, debt free balance sheet, and enhanced cash flow, the combined company will be well-positioned to accelerate innovation in key products and services and return capital to shareholders through an expected annual dividend of $2.00 per share following the close of the transaction. The merger of the corporate organizations is expected to achieve annual cost savings of approximately $50 million to be fully phased in within 18 months of closing. Of this amount, we expect approximately half will be realized during the 12 months following closing. These cost savings are expected to be achieved through the consolidation of executive and corporate functions, certain marketing capabilities and IT operations. The merger is expected to be accretive to Strayer's EPS by approximately 20% to 25% by 2019. Pursuant to the terms of the merger agreement, Strayer and Capella will combine in an all-stock merger of equals with Capella shareholders receiving 0.875 Strayer shares for each Capella share, which represents a premium of approximately 22% to the closing price of Capella shares on Friday, October 27, 2017, the last trading day prior to announcement. Based on the closing prices of Strayer and Capella common stock on October 27, 2017, the implied equity value of the combined company is approximately $1.9 billion. Upon completion of the merger, which is expected to be tax-free to shareholders of both companies, Strayer shareholders will own approximately 52% and Capella shareholders will own approximately 48% of the combined company on a fully diluted basis. The combined company's corporate headquarters will be located in Herndon, Virginia, and the company will maintain a significant presence in Minneapolis, Minnesota, including the headquarters of Capella University and the combined entity's IT resources. The transaction has been unanimously approved by the Boards of Directors of both companies. Upon closing of the transaction, Robert S. Silberman will be Executive Chairman, Kevin Gilligan will be Vice Chairman, and Karl McDonnell will be Chief Executive Officer of the combined entity. Also upon closing, Strayer Education, Inc. will be renamed Strategic Education. Its ticker symbol will remain STRA. Strayer's Board will be increased to 12 directors total - with three to be nominated by Capella. The transaction is expected to close in the 3rd quarter of 2018, subject to customary closing conditions, including antitrust approvals, approvals by the Department of Education, state regulators and relevant accreditation bodies as well as approval by both Strayer and Capella shareholders.

06:06 EDT Lennar, CalAtlantic to merge in deal valued at about $9.3B - Lennar (LEN) and CalAtlantic (CAA) announced that their respective boards of directors have unanimously approved a definitive merger agreement pursuant to which each share of CalAtlantic stock will be exchanged for 0.885 shares of Lennar Class A common stock in a transaction valued at approximately $9.3B, including $3.6B of net debt assumed. The business combination will create the nation's largest homebuilder with the last twelve months of revenues in excess of $17B and equity market capitalization, based on current market prices, of approximately $18B. The combined company will control approximately 240,000 homesites and will have approximately 1,300 active communities in 49 markets across 21 states, where approximately 50% of the U.S. population currently lives. It is currently anticipated that the transaction will generate annual cost savings and synergies of approximately $250M, with approximately $75M achieved in fiscal year 2018. These synergies are expected to be achieved through direct cost savings, reduced overhead costs and the elimination of duplicate public company expenses. Additional savings are also expected through production efficiencies, technology initiatives, and the roll out of Lennar's digital marketing and dynamic pricing programs. Under the terms of the merger agreement, each share of CalAtlantic stock will be converted into the right to receive 0.885 shares of Lennar Class A common stock. Based on the closing price of Lennar's Class A common stock on the NYSE on October 27, the implied value of the stock consideration is $51.34 per share, representing a 27% premium to CalAtlantic's closing price that same day. CalAtlantic's stockholders will also have the option to elect to exchange all or a portion of their shares for cash in the amount of $48.26 per share, subject to a maximum cash amount of approximately $1.2B. CalAtlantic stockholders will receive Lennar stock unless they exercise an option to receive cash. On a pro forma basis, CalAtlantic stockholders are expected to own approximately 26% of the combined company. The transaction is expected to close in the first calendar quarter of 2018. The transaction is subject to approval by Lennar and CalAtlantic stockholders. Stuart Miller and the Miller Family Trusts have agreed to vote their 41.4% voting interest in Lennar in favor of the merger. MP CA Homes LLC, an affiliate of MatlinPatterson Global Opportunities Partners III L.P., has agreed to vote its 25.4% voting interest in CalAtlantic in favor of the merger. Additionally, MP CA Homes has agreed to exercise the cash election for at least the number of shares to cause the maximum cash consideration amount to be fully subscribed by electing stockholders. Upon completion of the transaction, Stowell, CalAtlantic's Executive Chairman, will join the Lennar board.

06:04 EDT Strayer, Capella Education to combine in an all-stock merger of equals

06:02 EDT Cenovus Energy names Alex Pourbaix as new President & CEO - Cenovus Energy announced the appointment of Alex Pourbaix as President & CEO and member of the Board of Directors. Pourbaix will start the role on November 6. He replaces Brian Ferguson, who announced earlier this year that he will be retiring from that position after 33 years with Cenovus and its predecessor companies. Ferguson's last day as President & CEO will be November 2. Pourbaix spent the past 27 years in a variety of leadership roles with TransCanada Corporation and its affiliates until he retired from that company in May of this year.

06:01 EDT Stifel Financial to acquire Ziegler Wealth Management, terms not disclosed - Stifel Financial announced it has entered into a definitive agreement with B.C. Ziegler & Company to acquire its wealth management business, Ziegler Wealth Management. Terms of the transaction were not disclosed and it is expected to close in the first quarter of 2018. Established in 1902 and headquartered in Chicago, Illinois, Ziegler Wealth Management has 57 private client advisors in 12 branches across five states that manage approximately $4.8B in client assets.

05:34 EDT Axalta confirms talks with AkzoNobel regarding potential merger of equals deal - Axalta Coating (AXTA) issued the following statement: "Axalta confirmed that it is engaged in discussions with AkzoNobel (AKZOY) regarding a potential merger of equals transaction between Axalta and Akzo's Paints & Coatings business. Axalta will pursue such a transaction only if its board determines that it is in the best interest of Axalta to do so. There can be no assurances that a definitive agreement between the parties will be reached or on what terms."

05:29 EDT Novartis to acquire Advanced Accelerator for $41 per share

05:23 EDT Insys Therapeutics to record minimum liability for DOJ settlement in Q3 - INSYS Therapeutics made the following statement about the Department of Justice investigation. "In connection with our cooperation with the DOJ, we have been engaged in discussions with the government regarding a resolution of potential liability exposure. As of Sept. 30, $150M has been accrued, which represents our best estimate of the minimum liability exposure we expect to pay over five years. In addition, we did not recognize any tax benefit relating to this accrual because at the time we did not have sufficient information to make a determination regarding tax deductibility. This estimate reflects a minimum exposure at which management has determined a willingness to settle these matters. The DOJ has not accepted management's offer, and there can be no assurance that future discussions with the government to resolve these matters will be successful, that the approvals we need will be obtained or that any potential settlement will be agreed to on terms and conditions acceptable to us or the DOJ. We are unable to predict when these matters will be resolved or what further action, if any, the government will take in connection with them. Based on the ongoing uncertainties and potentially wide range of outcomes associated with any potential resolution of the matter under investigation by the DOJ, the ultimate amount of potential liability may materially exceed the $150M accrual we have established."