Stockwinners Market Radar for December 06, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:10 EDT Exxon Mobil and Grupo Orsan to open 50 Mobil stations in Mexico - ExxonMobil announced a partnership with retailer Grupo Orsan to open eight Mobil-branded service stations this week in Queretaro as part of the company's entry in Mexico's fuels market. ExxonMobil plans to open 50 Mobil stations in the Bajio region by the end of Q1 2018. "The opening of these first eight Mobil service stations, made possible by Mexico's new energy policy regime, is a significant milestone for the country and our company," said Carlos Rivas, fuels director for ExxonMobil Mexico. "We look forward to helping meet the country's growing demand for energy with a reliable supply of high-quality fuels and a positive customer experience."

18:58 EDT Volaris reports November traffic up 10.3% y/y - During November, Volaris increased total capacity, as measured in Available Seat Miles, by 11.3% year over year. Total demand, as measured in Revenue Passenger Miles in November increased 10.3% year over year, reaching 1.3B. Volaris transported a total of 1.4M passengers during the month, an increase of 9.8% year over year. Year-to-date, Volaris has transported over 14.9M passengers, an increase of 10.2% year over year. Network load factor for November was 83.9%.

18:01 EDT Celanese increases acetyl intermediates price - Celanese Corporation will increase list and off-list selling prices for acetyl intermediates products by $50 per ton. The price increases will be effective immediately.

17:37 EDT Northrop Grumman receives FTC request for more information on Orbital ATK deal - Northrop Grumman Corporation (NOC) announced that, as expected, it has received a request for additional information from the Federal Trade Commission. This second request is part of the regulatory process in connection with the FTC's review of Northrop Grumman's proposed acquisition of Orbital ATK, Inc (OA). The company continues to expect the acquisition to close in the first half of 2018, after receiving regulatory approvals.

17:34 EDT Liberty Tax postpones Q2 earnings release, conference call - Liberty Tax announced the company will delay its second quarter 2018 earnings release and conference call as the company finalizes their quarterly assessment of internal controls as related to recent management changes. The company will announce the timing of the release of its second quarter fiscal 2018 results and related conference call details in the coming days.

17:33 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: SeaChange (SEAC), up 21.8%... Comtech (CMTL), up 18.5%... Tailored Brands (TLRD), up 14%... lululemon (LULU), up 6.3%... Okta (OKTA), up 4.2%... Broadcom (AVGO), up 3.3%. ALSO HIGHER: Digital Power (DPW), up 14.6% after it denied rumors regarding Amazon (AMZN)... Comcast (CMCSA), up 1.6% after CNBC reported that the company was still interesting in a deal with 21st Century Fox (FOXA). DOWN AFTER EARNINGS: Verint Systems (VRNT), down 7.2%... Korn/Ferry (KFY), down 4.4%... Keysight Technologies (KEYS), down 2.6%... Ollie's Bargain Outlet (OLLI), down 2.4%.

17:20 EDT Holtzbrinck Ventures reports 8.63% passive stake in Spark Networks

17:06 EDT Highbridge Capital reports 5.55% passive stake in Adverum Biotechnologies

17:04 EDT Walter Investment announces Jerry Lombardo to succeed Gary Tillett as CFO - Walter Investment (WAC) announced that Jerry Lombardo, a seasoned financial executive with over 25 years of experience, has agreed to join the company to succeed Gary Tillett as CFO. Tillett, Executive Vice President and CFO, will retire in 2018. Lombardo most recently served as a Managing Director & Treasurer of the Consumer and Community Bank at JP Morgan Chase & Co. (JPM).

17:03 EDT Spark Therapeutics and Pfizer publish interim gene therapy data in NEJM - Spark Therapeutics (ONCE) and Pfizer (PFE), announced that The New England Journal of Medicine has published interim data as of July 25, 2017, from the Phase 1/2 clinical trial of SPK-9001, an investigational gene therapy for hemophilia B. With a cumulative follow-up of 492 weeks' observation of the first 10 adult male participants, the mean steady-state factor IX activity was 34 percent of normal (range of 14-81 percent) following a single administration of investigational SPK-9001. The annualized bleeding rate was reduced 97%, from a mean rate of 11.1 events per year before vector administration to 0.4 events per year after vector administration, while factor IX concentrate use was reduced 99%. In this open-label, non-randomized, multicenter Phase 1/2 clinical trial, there were no serious adverse events during or following infusion of SPK-9001, and no participants experienced thrombotic events or developed factor IX inhibitors. Two participants developed an asymptomatic and transient increase in liver enzymes that resolved with a tapering dose of oral corticosteroids. One participant with severe joint disease has administered factor for suspected bleeding, but overall factor use for this participant was 91% lower than before SPK-9001 infusion.

16:57 EDT Okta signs 10-year lease on new HQ in San Francisco with Kilroy Realty - Kilroy Realty Corporation (KRC) today said it has signed a 10-year lease with Okta (OKTA) for 207,000 square feet of space at Kilroy Realty's 100 First Street office property in the South of Market district of San Francisco. A leading provider of identity for the enterprise, Okta is expanding its footprint in the city in the wake of its April 2017 initial public offering and anticipated growth plans. Okta plans to establish its new corporate headquarters at 100 First Street, with expected occupancy occurring in phases, beginning in the second quarter of 2018.

16:54 EDT Amdocs to invest up to $350M on new campus in Israel - Amdocs announced it has signed an agreement with Union Group to partner for the purchase of the land for its future campus in Ra'anana, Israel. The transaction for the acquisition of the land is expected to be completed in the near term upon satisfaction of customary closing conditions. The total net investment that Amdocs expects to make in connection with the purchase of the land and the construction of the new campus is expected to reach up to $350 million over a period of four to five years, and is expected to be financed by internal cash resources. As previously disclosed, this investment includes incremental capital expenditure of up to $100 million in fiscal year 2018. Excluding this incremental capital expenditure, Amdocs expects to generate free cash flow of roughly $500 million in fiscal year 2018, of which it plans to return approximately 100% to shareholders through its ongoing share repurchases and dividend program for the full year.

16:46 EDT W.P. Carey raises quarterly dividend to $1.01 per share - The dividend is payable on January 16, 2018 to stockholders of record as of December 29, 2017.

16:39 EDT Fluor awarded $495M Puerto Rico electric grid contract - Fluor Corporation announced that the company was awarded a second task order under its contract with the U.S. Army Corps of Engineers Huntsville Engineering Center to assist with the restoration and rebuilding of transmission and distribution lines in Puerto Rico. The competitively awarded contract includes evaluation, restoration, repair and replacement of structures and equipment supporting the electrical infrastructure of the island. Fluor has been awarded a second task order to assist with the restoration and rebuilding of transmission and distribution lines in Puerto Rico. The three-month single award task order is funded at $495 million with a ceiling of $831 million and is the second awarded to Fluor for power restoration work in Puerto Rico. A previous task order for $240 million was awarded on October 16, 2017, with an additional $261 million being added to the original task order on December 4, 2017. Both task orders represent work assigned to the Corps under a Federal Emergency Management Agency mission.

16:33 EDT Sunrun COO Paul Winnowski to retire, Christopher Dawson to succeed - Sunrun announced leadership changes. Paul Winnowski, President and COO, will retire from the company in early 2018. Christopher Dawson will join Sunrun as COO effective immediately. Dawson spent the majority of his career with Bombardier Recreational Products Inc., a leading powersports vehicle manufacturer.

16:29 EDT Tailored Brands up 11% to $19.10 after Q3 results beat estimates

16:23 EDT SeaChange up 25% afterhours to $3.50 following Q3 results and FY18 raise

16:21 EDT Ollie's Bargain Outlet down 4.9% to $48.50 after Q3 results and FY17 outlook

16:16 EDT Broadcom down over 1% after reporting Q4 earnings, giving Q1 guidance

16:15 EDT Broadcom raises quarterly interim dividend 72% from prior quarter - Broadcom's board has approved a quarterly, interim cash dividend of $1.75 per ordinary share. A corresponding distribution will also be paid by the partnership, of which the company is the general partner, to holders of REUs, in the amount of $1.75 per REU. The dividend and the distribution are both payable on December 29 to shareholders or unitholders of record on December 19, 2017.

16:12 EDT lululemon CEO 'energized' by momentum reflected in raised guidance - Laurent Potdevin, CEO, lululemon, said: "Our teams powerfully delivered robust results across both store and digital channels this quarter, driving a further acceleration in our business. The strength of our Q3 earnings supports our unique position as the global brand defining an active, mindful lifestyle. As we start the holiday season, I'm energized by our momentum and we are increasing guidance to reflect this performance. I'm grateful for the enthusiasm I see every day across our collective as we remain on our path to delivering $4 billion in revenue in 2020."

16:11 EDT lululemon authorizes $200M stock repurchase program - lululemon announced that its board of directors has approved a new stock repurchase program for up to $200M of its common shares in the open market at prevailing market prices, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934.

16:04 EDT Strata Skin Sciences announces departure of CFO Christina Allgeier - STRATA Skin Sciences announced that Christina Allgeier resigned as CFO to pursue other opportunities. Allgeier intends to remain in her current role through December 31. Allgeier has agreed to assist the company during the transition period as it searches for a new CFO by entering into a transition services agreement, under which she will provide STRATA with consulting services through March 31, 2018.

15:48 EDT OSI Systems calls Muddy Waters' allegations 'misleading'

15:35 EDT ViaSat, Air Force complete production readiness review on Mini Crypto - The U.S. Air Force, in partnership with Viasat, announced earlier today the successful completion of its production readiness review on the Mini Crypto program for the development of an embeddable cryptographic security/data module for military handheld devices and unmanned systems that communicates sensitive and classified data. "By passing PRR, the U.S. Air Force and Viasat will proceed into Low Rate Initial Production (LRIP). The Viasat Mini Crypto module will enable U.S. Air Force and military personnel to procure affordable small form factor embeddable encryption devices," the statement read. Viasat calls its Mini Crypto module a "new breakthrough in technology for securing U.S. Air Force's small form factor unmanned systems and sensors that transmit SECRET and Below (SAB) data."

15:28 EDT Numerex announces shareholder approval of merger agreement - Numerex Corp. (NMRX) announced that, at its special meeting of shareholders held today, a majority of the votes cast, which also represented a majority of the outstanding shares of the company's common stock, voted to approve the adoption of the previously announced Agreement and Plan of Merger, dated as of August 2, 2017, by and among the company, Sierra Wireless, Inc. (SWIR) and Wireless Acquisition Sub, Inc. Upon completion of the merger, Numerex shareholders will receive a fixed exchange ratio of 0.1800 common shares of Sierra Wireless for each share of Numerex common stock. Subject to the satisfaction of the remaining closing conditions, the company, Sierra Wireless and Merger Sub currently anticipate to close the merger on December 7, 2017.

15:13 EDT MGT Capital Investments announces purchase of 500 additional mining rigs - MGT Capital Investments announced that it has executed a new purchase order with Bitmain Technologies for an additional 500 S9 Antminer mining rigs, with shipment expected early in the first quarter of 2018. Following shipment and setup, and in conjunction with the company's current rigs in operation or in its possession, MGT's Bitcoin mining operations will be comprised of over 5,000 Bitmain S9's. The company expects all rigs announced to date to be operating during the first quarter of 2018. "These machines are expected to generate roughly 70 Ph/s of total hash power, and over $4 Min monthly revenue, assuming current Bitcoin pricing and Difficulty rates," MGT Capital stated.

15:06 EDT Roku continues to rise as YouTube, Amazon fight escalates - Shares of Roku (ROKU) are on the rise amid reports that Google (GOOG; GOOGL) is pulling its YouTube service from Amazon (AMZN) FireTV. GOOGLE PULLING YOUTUBE FROM FIRETV: Yesterday, CNET reported that Google was pulling its YouTube service from Amazon's FireTV and Echo Show. A spokesperson for Google told the tech website: "We've been trying to reach agreement with Amazon to give consumers access to each other's products and services. But Amazon doesn't carry Google products like Chromecast and Google Home, doesn't make Prime Video available for Google Cast users, and last month stopped selling some of Nest's latest products. Given this lack of reciprocity, we are no longer supporting YouTube on Echo Show and FireTV. We hope we can reach an agreement to resolve these issues soon." YouTube will no longer be accessible via the Amazon devices on January 1, the report said. Roku's "agnostic" streaming devices allow access to subscribers of Google, Netflix (NFLX), Apple (AAPL) and Amazon media services. PRICE ACTION: In afternoon trading, shares of Roku have jumped about 9% to $42.91. Roku shares are up dramatically since the IPO of the company's stock in September. On September 28, Roku opened at $15.78 in its first day of trading on the Nasdaq after its initial public offering was priced at $14 per share. The streaming media device maker closed that day at $23.50.

14:28 EDT Craft beer still seen taking alcohol share despite growth slowdown - Commenting on the craft beer and beverage sector, Stifel analyst Mark Swartzberg told investors that craft beer continues to take alcohol share despite growth slowing down, while craft spirits sales are growing faster than craft beer sales in their infancy. Given competition and current valuation, the analyst initiated coverage of Boston Beer (SAM), Craft Brew Alliance (BREW) and MGP Ingredients (MPGI) with a Hold rating. CRAFT BEER AND SPIRITS: In a research note to investors, Stifel's Swartzberg pointed out that the craft beer category has exhibited considerable growth over the last decade, but noted that heightened competitive intensity is eroding leading craft brewer shares. Craft beer growth has slowed but continues to take alcohol share, while craft spirits sales are growing faster than craft beer sales in their infancy, he contended, adding that he sees craft spirits having "considerable runway" and fuel for growth. Swartzberg pointed out that craft beer's largest participants are increasingly focused on a portfolio approach to national presence, focusing especially on localities and regions for a given craft brewery's growth. He believes AB InBev (BUD) is the best positioned among the U.S.'s four largest strategics to continue this strategy and expects private equity participants to remain active but restrained in the segment too. BOSTON BEER TAKEOUT UNLIKELY: Stifel's Swartzberg started coverage of Boston Beer with a Hold rating and $166 price target saying that while momentum argues against a Sell recommendation, the shares are expensive since a takeout is unlikely, improving trends could be fleeting, and brewing utilization pressures margins as volumes weaken. The analyst is also concerned the company's brewing footprint is too big. Additionally, Swartzberg noted that a CEO change seemingly compounds risk of fundamental disappointment if improvement is short-lived, but he thinks CEO Martin Roper's intent to stay until February 2018, or such later date as he and his successor agree, demonstrates his commitment to the next CEO's effectiveness. CRAFT BREW FUTURE UNCERTAIN: The analyst also started coverage of Craft Brew Alliance with a Hold rating and $19 price target saying that an AB InBev offer for the company is not entirely probable, given that it is not dependent on Craft Brew to execute its craft strategy and a deal may be not be possible either due to Craft Brew's desire to remain independent or to the July 2016 consent decree between AB InBev and the U.S. Department of Justice. Swartzberg noted that Craft Brew entered into a set of commercial arrangements with AB InBev, and added that he believes the former is amenable to an offer by the latter, given the implied premium and the likelihood that foregone AB InBev agreements compound the category headwinds that Craft Brew currently faces. EXPECTATIONS FOR MGP TOO HIGH: Stifel's Swartzberg also started coverage of MGP Ingredients, a producer and supplier of distilled spirits including bourbon and rye whiskeys, vodka and gin, with a Hold rating and $73 price target. Growth expectations are up a lot this year, making it difficult to keep outperforming, he said. Nonetheless, he thinks the market is right to expect more high single-digit growth with major improvements in margins and cash flow. PRICE ACTION: In afternoon trading, shares of Boston Beer have gained about 1% to $186.40, and MGP Ingredients is flat at $74.86. Meanwhile, Craft Brew has dropped 3% to $18.95.

14:04 EDT Stryker increases dividend 11% to 47c per share - Stryker announced that its board of directors has declared a quarterly dividend of 47c per share payable on January 31, 2018 to shareholders of record at the close of business on December 29, 2017, representing an increase of approximately 11% versus the prior year and the previous quarter.

13:41 EDT Gilead granted FTC early termination for deal with Cell Design Labs - According to a notice posted to the Federal Trade Commission website, Gilead was granted early termination for its acquisition deal with Cell Design Labs. The notice identifies Gilead as the "Acquiring Party" and Cell Design as the "Acquired Party" but does not give further detail on the nature or terms of the transaction. Reference Link

13:04 EDT Finjan Holdings files patent infringement complaint against Zscaler - Finjan Holdings announced that -- after more than one year of good faith efforts to resolve a patent dispute with Zscaler -- its subsidiary Finjan, Inc. has filed a patent infringement lawsuit against Zscaler, a Delaware company. Finjan filed a complaint on December 5, and alleges that Zscaler's products and services infringe at least four U.S. Finjan patents. Finjan is seeking, among other things, a jury trial, past damages not less than a reasonable royalty, enhanced damages for willful infringement, and reasonable attorneys' fees and costs for infringement of each of the asserted patents, as well as preliminary and permanent injunctive relief from continuing to infringe the '633 and '305 Patents.

12:50 EDT OSI Systems down 21% to $66.38 after Muddy Waters short call

12:37 EDT Allergan CEO Saunders buys 4,600 shares - Allergan CEO Brent Saunders disclosed in a regulatory filing the purchase today of 4,600 shares at prices of $164.71 and $165.35. The CEO now owns 186,377 shares of Allergan.

12:15 EDT Apple suppliers dragged down by Largan revenue warning on weak orders - Apple (AAPL) iPhone camera lens maker Largan Precision warned that the company's revenue in December will fall versus the previous month, according to media reports. The news seems to have raised concerns regarding Apple's orders ahead of the holidays, with Skyworks (SWKS), Cirrus Logic (CRUS), Broadcom (AVGO), and Qorvo (QRVO) all sliding in afternoon trading. DROP IN ORDERS: Largan Precision has warned that its revenue is expected to fall in December, versus the previous month, during a traditionally strong period for iPhone shipments, according to the Nikkei Asian Review. Citing Taiwan's Economic Daily News, the publication says the company's December weakness comes from a drop in orders from some customers, but did not specify which ones. Largan supplies lenses for all Apple iPhone models and for the new iPhone X's Face ID module. OTHERS TO WATCH: Several Apple suppliers are slipping in afternoon trading. Shares of Skyworks and Broadcom have dropped almost 1%, Cirrus Logic's stock has slipped about 2%, and shares of Qorvo have slid over 3%. Reference Link

12:09 EDT Immunomedics jumps 12% with data being presented at cancer symposium - Shares of Immunomedics have jumped $1.09, or 12%, in midday trading to $10.12 as the company is scheduled to be presenting at the San Antonio Breast Cancer Symposium. Immunomedics previously announced that it would be presenting data on sacituzumab govitecan, an anti-Trop-2-SN-38 antibody-drug conjugate, as greater than or equal to3rd-line therapeutic option for patients with relapsed/refractory metastatic triple-negative breast cancer at the symposium's general session in an event scheduled to start at 11 am. The company will also be discussing a Phase III, randomized trial of sacituzumab govitecan vs treatment of physician choice for metastatic triple-negative breast cancer tomorrow during the symposium, Immunomedics previously announced.

11:59 EDT Immunomedics trading resumes

11:54 EDT Immunomedics trading halted, volatility trading pause

11:04 EDT T-Mobile sets share buyback plan a month after Sprint talks collapse - Shares of T-Mobile US (TMUS) are climbing in late morning trading after the "Un-carrier" announced a $1.5B stock buyback program through 2018 a month after the company and Sprint (S) ended merger talks. REPURCHASE PLAN DETAILS: T-Mobile this morning said its board authorized a plan to repurchase of up to $1.5B of its common stock, its first-ever repurchase program. In addition, Deutsche Telekom (DTEGY), T-Mobile's majority shareholder, is considering plans to purchase additional shares of T-Mobile common stock. The stock repurchases are expected to occur through December 31, 2018. "Since launching Un-carrier, T-Mobile has delivered unmatched growth and continues to take share in a rapidly changing and competitive wireless industry," T-Mobile President and Chief Executive John Legere said in a statement. "This repurchase program underscores our Board of Directors' and management team's confidence in our business and our commitment to creating value for shareholders." Legere also noted that "2018 is going to be another exciting year in wireless and we can't wait to get started." At today's UBS Global Media and Communications Conference, Chief Financial Officer Braxton Carter said T-Mobile will likely "blow through" the repurchase program and might consider "tuck-in" acquisitions over the coming year. WHAT'S NOTABLE: In November, Carter told a Morgan Stanley conference in Barcelona that the carrier would propose a "significant" share repurchase, and noted that Deutsche Telekom, which owns about 64% of the carrier, would not tender shares. T-Mobile has been in focus since merger talks with Sprint fell through due to the inability of the companies and their controlling investors to agree on a controlling stake or valuation as well as concerns over opposition from regulators. At the UBS conference, Carter, who admitted that T-Mobile is "past the Sprint deal," said that "Coming off the Sprint deal with significant shareholder rotation happening, we think that we have a tremendous value here." Chief Operating Office Mike Sievert said that T-Mobile is having a "fantastic quarter," and "the formula is really working." Looking ahead, Sievert said T-Mobile can be both "growth driven" and a "cash generator." PRICE ACTION: T-Mobile is up about 1% to $61.55 in late morning trading.

10:38 EDT Dental distributors slide as Morgan Stanley says sell on Amazon threat - Shares of Henry Schein (HSIC) and Patterson Companies (PDCO) are sliding after Morgan Stanley analyst Steve Beuchaw downgraded both stocks to Underweight, a sell-equivalent rating, as he believes Amazon's (AMZN) headway in the dental supply sector and market softness are now undeniable. SELL HENRY SCHEIN, PATTERSON: In a research note to investors this morning, Morgan Stanley's Beuchaw downgraded Henry Schein and Patterson Companies to Underweight from Equal Weight after uncovering new evidence that Amazon (AMZN) is accessing critical products from dental products maker Dentsply Sirona (XRAY) and could access dental offerings from 3M (MMM) and Danaher (DHR) over the next two years. Furthermore, the analyst pointed out that he sees signs that price/mix and volumes in the market are continuing to deteriorate both in the U.S. and Europe due to customer consolidation, alternative channels, and reimbursement. While Beuchaw thinks Henry Schein is "the best house in a tough neighborhood" and valuation still looks "generous," he sees persistent market growth moderation as likely and notes that Amazon adds pricing transparency/risk. On the other hand, the analyst believes Patterson Companies is facing more than just market headwinds and is concerned with the company's ability to stabilize the commercial organization behind new sales reps that could take another 6-9 months to ramp, during which time Henry Schein is likely to continue to pursue its customers. Beuchaw lowered his price target for Henry Schein to $65 from $73 and for Patterson Companies to $29 from $38. PRICE ACTION: In morning trading, shares of Henry Schein have dropped about 3% to $69.05, while Patterson Companies' stock has slipped about 5.5% to $34.27.

10:11 EDT Block: OSI 'bottom won't fall out' if Mexico contract resumed on same terms - Carson Block of Muddy Waters is appearing on Bloomberg television to discuss his newly-disclosed short report on OSI Systems.

10:05 EDT OSI Systems drops after Muddy Waters accuses company of corruption - Muddy Waters Capital disclosed in a newly posted video short report that the research firm is shorting OSI Systems, making accusations that its key contract in Albania was obtained "through corruption." The company's most significant contract, in Mexico, is at risk of not being renewed or of being renewed at less favorable terms and U.S. and EU contracts are at risk "due to likely corruption" as well, Muddy Waters also stated in its video report. Shares of OSI Systems, which makes electronic systems and components for the homeland security, healthcare, defense and aerospace markets, are down 9% to $76.49 as Carson Block discusses the short position on Bloomberg television.

10:00 EDT OSI Systems plunges after Muddy Waters discloses short call on stock - Reference Link

09:58 EDT Fred's plummets following weak results, pulling dividend - Shares of Fred's Inc (FRED) plunged in morning trading after the pharmacy operator canceled its quarterly dividend and said it was exploring alternatives for some of its noncore assets. The moves came as Fred's reported losses for the third quarter that was worse than analysts expected. DIVIDEND CANCELLED: Fred's announced this morning that it is cancelling its quarterly cash dividend in order to retain free cash flow for debt reductions, share buybacks and other corporate purchases. Fred's said future dividends will be left to the discretion of the board and will be based on the company's financial performance and available cash resources. In connection with the dividend cancellation, Fred's amended its 2012 share buyback program, which will now allow for the repurchase of up to 3.8M shares of the company's Class A voting common stock. REVIEW OF NONCORE ASSETS: In shifting its focus towards driving increased traffic, reducing costs, improving its gross margin and generating free cash flow, Fred's also said its board is considering various alternatives for its real estate and specialty pharmacy business, which the company has deemed "noncore." Fred's noted that the decision to explore alternatives for these assets is not in response to a third party proposal and the company has not decided to engage in any particular transaction. THIRD QUARTER LOSS: Fred's also announced a wider than expected loss for the third quarter, with a loss per share including charges of ($1.38), well below analysts' (13c) estimate. Revenue for the quarter of $493.6M also fell below the $499.75M consensus and comparable store sales, which included a negative 36 basis point impact as a result of the sale of low productive discontinued inventory versus last year, dropped 0.8% versus a 3.8% decline last year. CEO Michael Bloom commented that Fred's has seen a "complete turnaround in our tobacco business, significantly enhanced cosmetics and successfully rolled out beer to approximately 150 stores and wine to approximately 50 stores. We have also kicked off a reduced price endcap test, which is showing promising results, and we intend to roll it out to all stores." However, Bloom cautioned that the company is "not yet at the point of presenting positive quarterly comp sales and traffic improvement; however, we are improving month-by-month as our initiatives are yielding results. We recognize that there is more work to be done, but we are encouraged by the traction our initiatives are gaining and look forward to capitalizing on that momentum in the coming quarters." WHAT'S NOTABLE: In September, Fred's extended a shareholder rights plan to September 18, 2020 and lowered the trigger to 4.9% ownership from 10%. PRICE ACTION: Fred's is down 22.4% to $3.95 per share in morning trading.

09:50 EDT Fastenal reports November net sales up 15.4% to $365.5M - Fastenal reports net sales grew 15.4% in November compared to last year to $365.5M. Daily sales of $17.4M were up 15.4%.

09:48 EDT Duke Energy acquires full ownership of REC Solar - Duke Energy announced that it has acquired full ownership of California-based REC Solar, a provider of renewable energy solutions for commercial customers throughout the U.S. Duke Energy first acquired a majority interest in REC Solar in February of 2015. RREC Solar will continue to be a part of Duke Energy Renewables, Duke Energy's commercial renewables organization. Duke Energy purchased the remaining shares of REC Solar in a cash transaction. Details were not disclosed. REC Solar will be managed as an independent business unit of Duke Energy Renewables.

09:39 EDT Insys Therapeutics says FDA accepts NDA for buprenorphine sublingual spray - INSYS Therapeutics announced that its New Drug Application for a novel formulation of buprenorphine as a sublingual spray for the management of moderate-to-severe acute pain has been accepted for filing by the U.S. FDA. Under the Prescription Drug User Fee Act, the FDA has set a target date of July 28, 2018 to complete its review of this NDA, which was based primarily on a pivotal trial that met its primary efficacy endpoint and several pharmacokinetics studies. To expand the duration of exposure for this investigation new drug candidate, INSYS also recently completed a seven-day safety and tolerability study with 100 patients. Data from this study will be submitted to the FDA in the first quarter of 2018, augmenting the NDA package, and may impact the PDUFA date. INSYS anticipates that the potential benefits of buprenorphine include a ceiling effect for respiratory depression and, compared to other opioids frequently used in this indication, less abuse potential, less cognitive impairment and less constipation.

09:28 EDT American Eagle says feels inventory levels 'very clean' - Says in "very good shape" from aging perspective.

09:24 EDT Wal-Mart to change name to Walmart Inc, effective February 1 - Reflecting its growing status as an omni-channel retailer Walmartannounced plans to change the company's legal name from Wal-Mart Stores, Inc. to Walmart Inc. effective Feb. 1, 2018. The name change chiefly demonstrates the company's growing emphasis on serving customers seamlessly however they want to shop: in stores, online, on their mobile device, or through pickup and delivery. Walmart will continue to trade on the NYSE as WMT and the company name should be referenced as Walmart.

09:23 EDT Amazon: Prime Video app now available on Apple TV in over 100 countries - Amazon (AMZN) announced the Prime Video app is available on Apple (AAPL) TV 4K and previous generations of Apple TV in over 100 countries. Amazon said: "Prime Video members now have even more ways to stream award-winning and critically-acclaimed titles including Amazon Original Movies, Prime Originals and Hollywood blockbusters and TV series and over 140 Channel subscriptions in the US and 95 in the UK, Germany and Austria. Starting tomorrow, customers can enjoy Thursday Night Football live on Apple TV 4K and Apple TV. Amazon's library of 4K High Dynamic Range titles are available on Apple TV 4K. Finding content on Prime Video is remarkably easy for Apple TV viewers with the Apple TV App, Siri Remote and universal search in select countries."

09:21 EDT American Eagle sees Q4 SSS growth in mid single digits

09:20 EDT American Eagle says sees Q4 inventory up about 10% - Says looking to refine store base, currently testing new store designs.

09:16 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Vera Bradley (VRA), up 9.1%... American Eagle Outfitters (AEO), up 6.8%... Brown-Forman (BF.A, BF. B), up 2.2%. ALSO HIGHER: Davita (DVA), up 10.9% following an announcement that it will be acquired by Optum, part of UnitedHealth Group (UNH). UnitedHealth Group is up fractionally... Arrowhead Pharmaceuticals (ARWR), up 5.4% after presenting new data showing sustained host response in HBV patients... Carnival (CCL), up 1.1% after being upgraded to Equal Weight from Underweight at Morgan Stanley. DOWN AFTER EARNINGS: Fred's (FRED), down 21.4%... Bob Evans (BOBE), down 1%. ALSO LOWER: Tronox (TROX), down 20.3% after the Federal Trade Commission issued an administrative complaint challenging Tronox's acquisition of Cristal... Tabula Rasa HealthCare (TRHC), down 2.3% after its 3M share Secondary priced at $27.50.

09:10 EDT American Eagle says Cyber Monday was best online sales day ever - Says "never more ready" for holiday season. Comments from Q3 earnings conference call.

09:07 EDT Perceptive Advisors reports 6.5% passive stake in OncoMed - Perceptive Advisors disclosed a 6.5% stake in OncoMed Pharmaceuticals, which represents over 2.47M shares. The filing does not allow for activism.

09:04 EDT Expedia, G6 Hospitality form strategic technology and marketing partnership - Expedia officially announced a new Expedia Powered Technology partnership with G6 Hospitality, parent company of the lodging brands Motel 6 and Studio 6, that will provide the brands broad access to Expedia's technology, marketing and data insight solutions to help drive knowledge, efficiencies and support its continued growth.

09:03 EDT Maxim Integrated signs catalog distribution agreement with CoreStaff Co. - Maxim Integrated Products announced that it has signed a catalog distribution agreement with CoreStaff Co., Ltd., one of Japan's largest online shopping sites for semiconductors, electronic parts, and module products. The agreement is effective as of November 3, 2017.

09:02 EDT Iconix Brand sees FY17 results 'be within previously issued guidance' - The company believes that, excluding the impact of the intangible asset impairment charge discussed above, full year 2017 results will be within previously issued guidance.

09:01 EDT Harris to provide tactical communications for Army's SFAB - vHarris Corporation has been selected to outfit U.S. Army Security Force Assistance Brigades, or SFABs, with reliable and combat-proven communication systems. Harris will provide a full battlefield solution including its Falcon III AN/PRC-152A Wideband Networking Handheld Radios and AN/PRC-117G Multiband Networking Manpack Radios, as well as its AN/PRC-160 High Frequency Manpack Radios. The radios will be equipped with the Soldier Radio Waveform and the Adaptive Networking Wideband Waveform, providing robust battlespace communications.

08:37 EDT Vera Bradley up 4.8% after reporting Q3 results

08:31 EDT RenaissanceRe announces $90M negative impact from October wildfires - RenaissanceRe Holdings Ltd. announced it currently estimates that losses from the October 2017 California Wildfires will have a net negative impact of $90M on its fourth quarter 2017 results of operations. The October 2017 California Wildfires caused widespread damage to both personal and commercial property in and around the impacted regions.

08:30 EDT AstroNova names Allied Motion CEO Richard Warzala to board - AstroNova (ALOT) announced that Richard "Dick" Warzala, Chairman and CEO of Allied Motion Technologies (AMOT), has been appointed to the AstroNova Board of Directors, effective immediately.

08:18 EDT H&R Block down 1% after reporting Q2 results

08:16 EDT RLJ Lodging Trust expands relationship with Interstate Hotels and Resorts - RLJ Lodging Trust announced that it has expanded its relationship with Interstate Hotels and Resorts in connection with White Lodging's sale of management contracts to Interstate. The transaction is expected to close on or about January 31, 2018. The terms of the original White Lodging contracts will remain in effect. "This transaction will result in Interstate Hotels becoming our largest management company," commented Ross H. Bierkan, President and CEO. "We value our long-standing relationship with White Lodging and thank them for their management of these assets. Interstate is an excellent operator and already manages 11 of our hotels. We are excited to expand our relationship with Interstate and look forward to the fresh perspective they will bring to these assets." Once the transaction is completed, the company will have 73 hotel management contracts with Interstate, including 62 hotel contracts acquired from White Lodging, which represent less than 20% of the company's hotel EBITDA. White Lodging will continue to manage 9 of the company's hotels.

08:10 EDT Taylor Devices receives $3.2M contract for seismic dampers - Taylor Devices announced receipt of a $3.2M contract for the firm's seismic dampers being used in a seismic protection upgrade at the St. Bernardine Medical Center, San Bernardino, CA. A total of 108 large dampers, each rated at up to 0.75M pounds output, will be used to absorb earthquake energy in the hospital building, originally constructed in 1972. The dampers will be used to absorb the earthquake shaking energy, before it can damage the original structure, greatly reducing potential risk to the building, occupants, and equipment.

08:09 EDT Hologic receives FDA 510(k) clearance for Panther Fusion AdV/hMPV/RV assay - Hologic announced that it has received 510(k) clearance from the United States FDA for its Panther Fusion AdV/hMPV/RV assay, a multiplexed assay that runs on the new Panther Fusion system. The new assay detects Adenovirus, human Metapneumovirus, and Rhinovirus. It is the third diagnostic assay available on the Panther Fusion system, complementing the Panther Fusion Flu A/B/RSV assay and the Panther Fusion Paraflu assay, which both received clearance in October 2017

08:08 EDT Integer wins long-term supply agreement with Neuros Medical - Integer announced that its subsidiary, Centro de Construccion de Cardioestimuladores del Uruguay S.A., has signed a ten-year supply agreement with Neuros Medical. Under the new agreement, CCC will be the sole supplier of key "Products" for Neuros' Altius System. The Products include the implantable generator and related external devices.

08:07 EDT Citius Pharmaceuticals: Mino-Lok Phase 3 trial supplies shipped to sites - Citius Pharmaceuticals has announced that clinical trial supplies of Mino-Lok have been sent to the University of Chicago Medical Center, and the Henry Ford Health System in Detroit, the first 2 clinical trial sites for the Mino-Lok phase 3 pivotal trial. When fully recruited, it is planned that there will be 50 participating sites, all located in the U.S. Mino-Lok is under investigation and not approved for commercial use.

08:05 EDT Harman, Under Armour announce launch of UA Sport Wireless Flex headphones - HARMAN International, a wholly-owned subsidiary of Samsung Electronics (SSNLF), and Under Armour (UA, UAA), announced the launch of UA Sport Wireless Flex headphones. "These wireless neckband headphones epitomize intuitive, sleek design, remarkable sound quality and impressive versatility to provide athletes with a secure fit when at the gym or on-the-go," the companies said.

08:04 EDT Charles River adds ERS license to CRISPR/Cas9 service offering - Charles River Laboratories International announced the expansion of its CRISPR/Cas9 service offering with the addition of a license from ERS Genomics Limited. The license, coupled with the existing license through the Broad Institute of MIT and Harvard, allows Charles River to offer custom in vivo and in vitro genome editing.

08:03 EDT CVS Pharmacy launches free, same-day prescription delivery in Manhattan - CVS Pharmacy introduced free, same-day delivery for prescriptions and certain over-the-counter items in Manhattan this week. The new free delivery service makes it easier for customers to save time and stay healthy. Free, same-day delivery in Manhattan is one of CVS Pharmacy's national network of delivery solutions. Same-day delivery in additional cities and next-day, nationwide delivery will be launching in early 2018. This week, CVS Pharmacy began offering delivery service from all locations in Manhattan. Prescriptions and the option of adding a selection of over-the-counter products can be delivered directly from CVS Pharmacy in secure tamper-proof packaging right to the customer's door to assure complete privacy. Over-the-counter items that can be added to a prescription delivery include popular items to treat cough, cold and flu symptoms, along with other common conditions. Orders made by 11 a.m. are delivered by 4 p.m., or by 4 p.m. for 8 p.m. delivery.

08:01 EDT Aspen Insurance names David Schick as Group COO - Aspen Insurance Holdings announced that David Schick has been appointed Group COO. David joins Aspen from Maybank where he was Executive Vice President, Group Strategy and Transformation and Director of Strategic Operational Excellence. David replaces Richard Thornton who is leaving the business after almost four years at Aspen.

07:53 EDT Coty wins EU Court ruling prohibiting online selling by Parfumerie Akzente - The Court of Justice of the EU ruled that Coty's (COTY) German subsidiary, Coty Germany, could prohibit Parfumerie Akzente from selling its luxury products online through Amazon (AMZN) or Ebay (EBAY). Reference Link

07:31 EDT SunOpta announces investment in roasted snacks capabilities - SunOpta said it is making a significant investment in its roasted snacks operations at its facility in Crookston, MN. In conjunction with the investment, customers and capabilities from its Wahpeton, ND roasting facility will be consolidated into the Crookston location, and operations at the Wahpeton location are anticipated to cease during the second fiscal quarter of 2018. These investments further the company's ongoing commitment to produce food products of the highest quality and safety for its customers and are expected to provide significant operational efficiencies as part of the company's ongoing portfolio optimization strategy and Value Creation Plan. The company expects to incur expenses relating to the Wahpeton facility closure of approximately $2M-$2.5M related to asset impairment charges and severance costs of which less than $1M is expected to be cash. These charges are expected to be recognized during the fourth quarter of fiscal 2017.

07:13 EDT Alpine Immune reports results of preclinical study of immuno-oncology molecules - Alpine Immune Sciences announced results of a preclinical study of novel immuno-oncology molecules derived from the company's variant immunoglobulin domain platform. Alpine scientists fused these novel molecules with trastuzumab with the goal of activating T cells against HER2-positive tumors in the tumor microenvironment. Results showed these trastuzumab-ICOSL "V-mAbs" promoted T cell proliferation and cytokine secretion and enhanced killing of tumor cells. "These preclinical data clearly indicate that the V-mAb format for our unique vIgD platform can yield novel HER2-targeted, T cell-activating immunotherapies. With these findings, we are encouraged that the V-mAb format more broadly will be able to enable target- or tumor-specific immune modulation by our vIgDs for this and many other therapeutic applications," said Stanford Peng, Executive VP of Research and Development and Chief Medical Officer of Alpine.

07:11 EDT Enterprise Products to convert NGL pipeline to crude oil service - Enterprise Products Partners announced plans to convert one of its natural gas liquids pipelines that transports NGLs from the Permian Basin to the Texas Gulf Coast to crude oil service. The conversion is expected to be completed in the first half of 2020. This pipeline conversion would provide the partnership with total crude oil pipeline capacity of over 650,000 barrels per day from the Permian Basin to Enterprise's crude oil hub in the Houston area. Enterprise has three existing NGL pipelines that stretch from the Permian Basin to the Texas Gulf Coast: the Seminole Blue, Seminole Red and Chaparral. The Shin Oak NGL pipeline, which is currently under construction, will be the partnership's fourth NGL pipeline from the Permian Basin to the Texas Gulf Coast. The Shin Oak pipeline is expected to be in service in the second quarter of 2019. The completion of the Shin Oak pipeline provides Enterprise the flexibility to divert NGL volumes from at least one of its existing NGL pipelines onto Shin Oak and repurpose the vacated NGL pipeline to crude oil service. Enterprise is currently evaluating which NGL pipeline(s) to repurpose.

07:09 EDT Erin Energy announces spud of Oyo-NW well - Erin Energy announced it has commenced drilling of the Oyo North West well. Oyo-NW is a high-impact exploration well being drilled with the Pacific Bora, a sixth-generation drilling rig, on the company's offshore Nigeria block 120. The well is expected to take approximately 60 days to drill and log. Erin Energy also stated that upon a successful discovery, given the close proximity to its current floating production and offloading facilities located on the producing Oyo Field, the company would plan to eventually complete the well as a producer with production tie-back to the Oyo Field facilities.

07:08 EDT GeoPark announces further extension of Tigana oil field in Colombia - GeoPark Limited announced the drilling and testing of the Tigana Norte 4 appraisal well in the Tigana oil field in Llanos 34 block in Colombia. GeoPark drilled and completed the Tigana Norte 4 well to a total depth of 11,730 feet. Oil shows during drilling and petrophysical analysis indicated the potential for hydrocarbons in both Guadalupe and Mirador formations. A production test conducted with an electric submersible pump in the Guadalupe formation resulted in a production rate of approximately 1,900 bopd of 14.1 degrees API, with approximately 1.8% water cut, through a choke of 34/64 inches and wellhead pressure of 178 pounds per square inch. Bottom-hole pressure recorders from latest testings performed indicated a producing drawdown of approximately 30%. Additional production history is required to determine stabilized flow rates of the well. Surface facilities are in place and the well is already in production. The Tigana Norte 4 well follows the recently drilled Tigana Norte 3 and Tigana Norte 2 wells and extends and broadens the Tigana oil field towards the northeastern limits of the Llanos 34 block. The well was drilled outside the 3P reserve outline defined in the 2016 DeGolyer and MacNaughton reserves certification, to a bottom-hole location that is approximately 75 feet down dip of the Tigana Norte 1 well and did not encounter the oil-water contact.

07:02 EDT Cogentix Medical: Palmetto GBA extends Medicare coverage on Urgent PC - Cogentix Medical announced that Palmetto GBA has extended its coverage policy for Percutaneous Tibial Nerve Stimulation to allow patients with overactive bladder symptoms to receive ongoing maintenance treatments for up to three years. Patients with Medicare coverage in North Carolina, South Carolina, most of Virginia and West Virginia can continue to receive the benefits of PTNS therapy delivered by Cogentix Medical's Urgent PC Neuromodulation System for their overactive bladder symptoms for an additional year.

07:01 EDT Fred's board cancels quarterly dividend to retain free cash flow

06:57 EDT Madrigal's MGL-3196 achieves primary endpoint in Phase 2 clinical trial - Madrigal Pharmaceuticals announced positive top-line results from a Phase 2 clinical trial in patients with biopsy-proven non-alcoholic steatohepatitis. In this trial, MGL-3196, a first-in-class, oral, once-daily, liver-directed, thyroid hormone receptor beta -selective agonist, demonstrated statistically significant results for the primary endpoint, the percent change in hepatic fat versus placebo as measured by MRI-PDFF, a non-invasive imaging test. Recent published data have shown a high correlation of the reduction of liver fat of 30% or more as measured by MRI-PDFF to improvement in NASH on liver biopsy. Statistically significant reductions in ALT and AST were observed in MGL-3196 treated patients; greater reductions in ALT and AST, statistically significant relative to placebo, were observed in the prespecified group of 44/78 patients with relatively higher MGL-3196 drug levels. In drug-treated relative to placebo patients, statistically significant improvements were also seen in multiple secondary endpoints considered to be potentially clinically relevant in patients with NASH including LDL-C, triglycerides, apolipoprotein B, and Lp(a). MGL-3196 has been well-tolerated with mostly mild AEs, and a few moderate AEs, the numbers of which are balanced between placebo and drug-treatment groups. There are no adverse effects of MGL-3196 on safety laboratory or vital sign parameters. There have been three serious adverse effects in the study, all considered unrelated to MGL-3196. The on-going study remains blinded. Safety, efficacy of NASH resolution by biopsy, and repeat MRI-PDFF will be assessed at 36 weeks. Multiple inflammatory and fibrosis serum biomarkers at 12 and 36 weeks are being and will be assessed.

06:51 EDT NovaBay names Lewis Stuart as Chief Commercial Officer - NovaBay (NBY) announces the appointment of Lewis Stuart as Chief Commercial Officer. Stuart joined NovaBay on December 1 and brings more than 30 years of biopharmaceutical industry experience. At NovaBay, he will be responsible for leading all commercial activities, including driving sales and revenue growth of Avenova in new and existing markets, and expanding the company's global commercial channel. Prior to NovaBay, Stuart was Vice President, U.S. Oncology for Genomic Health (GHDX).

06:46 EDT Optum to acquire DaVita Medical Group for approximately $4.9B in cash

06:40 EDT FTC challenges Tronox's acquisition of Cristal - The Federal Trade Commission last night issued an administrative complaint challenging Tronox's acquisition of Cristal. The FTC's administrative complaint charged that Tronox's proposed acquisition "would violate the antitrust laws by significantly reducing competition in the North American market (comprised of the United States and Canada) for chloride process titanium dioxide. The FTC alleges that the acquisition, if consummated, would increase the risk of coordinated action among the remaining competitors, and increase the risk of future anticompetitive output reductions by Tronox." The Commission added that it authorized agency staff to seek a temporary restraining order and preliminary injunction in federal court, if necessary, to maintain the status quo pending an administrative trial on the merits. Reference Link

06:32 EDT Cleantech Solutions enters into conditional share swap agreement with Ever-Long - Cleantech Solutions announced that its wholly-owned subsidiary, EC Assets Management, has entered into a conditional share swap agreement with Ever-Long Holdings Limited and certain of its officers and directors, to acquire a 51% interest in the issued share capital of Brighten Holdings Int'l Limited, a subsidiary of Styland Holdings Limited, a Hong-Kong-listed company. The terms of the agreement stipulate that the Ever-Long Parties shall transfer 51% of Brighten's issued share capital, which is valued at $16.45M, based on 510,000 ordinary voting shares at a price of $32.25 per Brighten share. In exchange, the company shall issue a certain number of its shares of common stock, representing 19.5% of the issued and outstanding shares of CLNT, and a 5-year interest-free promissory note with a principal amount of $13.76M to Brighten. The agreement is subject to various conditions, including entry into a definitive agreement satisfactory to both parties and legal and financial due diligence.

06:20 EDT UMC says sued by Micron over trade secret infringement - In a regulatory filing, UMC (UMC) says Micron Technology (MU) filed a civil lawsuit in California accusing UMC of DRAM trade secret infringement. UMC will appoint legal counsel to protect the interests and goodwill of UMC. UMC respects the intellectual property owned by all others, and will not violate their rights. UMC invested resources in the R&D of semiconductor technologies and owns numerous related patents. UMC will protect the company's interests in due course under the law.

06:06 EDT AT&T: DirecTV Now has surpassed 1M subscribers - The AT&T over-the-top streaming service, DIRECTV NOW, "has officially surpassed 1 million subscribers while celebrating our first year. We listened when customers said they wanted more flexible TV options. And DIRECTV NOW set out to bring TV lovers a new way to experience their favorite shows virtually anywhere at a great price... We're putting some finishing touches on more features in beta testing we plan to roll out on our next generation video platform over the coming months. These include a DVR in the cloud to record shows and access virtually anywhere, 4K Ultra High Definition quality video, capacity for more than 35,000 OnDemand titles, individual profiles and an even better user experience." Reference Link

06:04 EDT Home Depot announces new $15B share repurchase program

06:00 EDT Square's Cash App says rolling out bitcoin to more active customers - Square's Cash App tweeted: "Blockchaiiiiinnnnn. We're rolling out bitcoin to more of our most active customers. Swipe right from your Cash Card to see if you have it. #satoshi." Reference Link

05:31 EDT Hyster-Yale Materials agrees to acquire controlling interest in Zhejiang Maximal - Hyster-Yale Materials Handling announced today that it has entered into a definitive agreement to acquire, through an indirect wholly-owned subsidiary, 75% of the outstanding shares of, and a controlling interest in, Zhejiang Maximal Forklift Company Limited from KNSN Pipe and Pile Company Limited for an aggregate purchase price of $90 million, funded using Hyster-Yale's cash on hand. The remaining 25 percent share of the new company, which will be named Hyster-Yale Maximal Materials Handling, will be owned by current Zhejiang Maximal Forklift senior management through Y-C Hong Kong Holding Company. The proposed transaction is a strategic action that is expected to expand the Company's low-cost, global manufacturing capabilities, develop access to competitive component sourcing, further strengthen Hyster-Yale's utility and standard product portfolio by adding a wider spectrum of products to an already leading global materials handling business, and enhance the Company's presence in both the China market, as well as in the growing global utility and standard market segments. Although Hyster-Yale has been in the China market for a number of years, the company's market share has been limited and focused in the more premium segments. Maximal has achieved success in the utility and standard segments in this region, and this joint venture will allow Hyster-Yale to start reaching this expanded customer base. This is especially important for strengthening Hyster-Yale's current China operations, which are operating on a scale below the level needed for long-term success. For the year ended December 31, 2016, Maximal had revenues of 482.63 RMB or approximately $66.3 million, with domestic and export volume of nearly 6,000 units. Bookings and revenues in 2017 have increased nearly 20% over 2016. Due to the investments that Hyster-Yale intends to make in the joint venture, the proposed acquisition, while currently profitable, is expected to be dilutive to the company's earnings in 2018 by $5M to $10M pre-tax due to additional investments in expense and capital needed to implement the company's integration plan. The acquisition is expected to move toward being accretive in the medium term under conservative market share and synergy objectives. The closing of the transaction, which is expected to take place during the first half of 2018, is subject to customary closing conditions and required regulatory approvals.

05:15 EDT Ritchie Bros. apparent high bidder for DoD non-rolling stock surplus contracts - For the past three years, Ritchie Bros.' GovPlanet marketplace has been helping the U.S. Department of Defense's Defense Logistics Agency, or DLA, sell thousands of its surplus rolling stock assets. Today, Ritchie Bros. is expanding its relationship with the government agency, after being declared apparent high bidder for two new contracts with the DLA, to purchase, manage and sell non-rolling stock surplus assets for both its East and West regions. The contract has a base term of two years with four one-year renewal options. Non-rolling stock assets include non-wheeled items such as industrial machinery, electrical equipment, textiles, spare parts and other miscellaneous surplus assets.