Stockwinners Market Radar for February 26, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:05 EDT Delek US announces $150M share buyback, raises quarterly dividend 33% - "We ended the quarter with approximately $932 million of cash," said CEO Uzi Yemin. "During February, we made progress toward divesting non-core West Coast assets with the announced agreement to sell several asphalt terminals. In addition, the $315 million drop down of the logistics assets at the Big Spring refinery is expected to close in March with an effective date of March 1, providing additional growth to Delek Logistics. We have been focused on returning cash to shareholders through our capital allocation program and we repurchased approximately $119 million of shares from November 2017 to the end of February 23, 2018. Returning cash to shareholders is expected to remain a central theme of our capital allocation program. To support this program, our Board of Directors approved a 33 percent increase in the regular quarterly dividend and a new $150M share repurchase authorization."

18:39 EDT Resolute Energy says on track to deliver positive free cash flow in 4Q18, FY19

18:36 EDT Resolute Energy sees FY18 CapEx $365M-$395M - Net of estimated earnout payments of $27M-$29M receivable from Caprock Midstream.

18:34 EDT Douglas Dynamics raises quarterly dividend 10% to 26.5c per share - Douglas Dynamics announced that its board of directors approved and declared a quarterly cash dividend of 26.5c per share for the first quarter of 2018, which equates to a projected full year annual increase in the dividend of approximately 10%, or 10c per diluted share. The declared dividend will be paid on March 30, 2018 to stockholders of record as of the close of business on March 22, 2018.

18:06 EDT Tile Shop jumps after director Todd Krasnow buys shares - After the market close on Monday, Tile Shop director Todd Krasnow disclosed in a filing that he had purchased 20,000 shares of company stock at an average price of $5.55 per share on February 22. Shares of Tile Shop are higher by almost 9% to $5.65 per share in after-hours trading.

17:50 EDT Carlson Capital reports 5.0% passive stake in Archrock

17:35 EDT Nanometrics announces Jonathan Chou as CFO - Nanometrics (NANO) announced that Jonathan Chou will join Nanometrics as its CFO, effective March 5. Chou brings to Nanometrics over 25 years of financial leadership and management in the semiconductor capital equipment and global electronics and consumer manufacturing industries. He joins after more than seven years with Kulicke & Soffa (KLIC), a global provider of semiconductor packaging and electronic assembly solutions, where he served as CFO since 2010 and also served as interim CEO from October 2015 through October 2016.

17:33 EDT Black Stone Minerals sees FY18 average daily production 41-43 MBoe/d

17:27 EDT DBV Technologies up 10% after Phase I/II trial shows milk desensitization - Shares of DBV Technologies are moving higher after the company announced preliminary results from Part B, or Phase II, of a Phase I/II study evaluating the efficacy and safety of three dose regimens of Viaskin Milk in 198 patients for the treatment of IgE-mediated cow's milk protein allergy. The Miles study was designed to determine a safe and effective dose in two age groups: children ages two to 11 and adolescents ages 12 to 17. A statistically significant desensitization to milk was observed in children ages two to 11 treated with Viaskin Milk 300 microgram for 12 months, the company said. Following analyses of the data, the 300 microgram dose was identified as the most effective tested dose for children. The company believes these preliminary results support further advancement of the Viaskin Milk program, and intends to discuss findings with health authorities in key markets worldwide to determine the design of future studies. Viaskin Milk was granted FDA Fast Track Designation in September 2016. "This is an important milestone for the millions of patients suffering from CMPA worldwide. We know that small amounts of cow's milk protein can cause life-threatening reactions, and that this disease has a profoundly negative impact on the quality of life of patients and their caregivers," said Dr. Stephen A. Tilles, Executive Director, ASTHMA Inc. Clinical Research Center, Physician Partner at Northwest Allergy & Asthma Center, and the Principal Investigator of the Miles trial. "There are no other treatments in development today for this hard-to-treat disease, and it is exciting to see these encouraging efficacy and safety results with a novel potential treatment option that appears to be well-tolerated." Shares of DBV are up 10%, or $2.16, to $24.61 in after-hours trading.

17:15 EDT Brown & Brown announces 2-for-1 stock split - Brown & Brown announced that its board of directors approved a 2-for-1 stock split of the company's common stock. The stock split will be effectuated by distributing one additional share to each shareholder of record on March 14, 2018 for every share of common stock then owned. The company expects the additional shares issued in connection with the split to be distributed on March 28, 2018. As a result of the stock split, the number of outstanding shares of common stock will increase from approximately 138 million to approximately 276 million.

17:08 EDT Fresenius conducting investigation into alleged Akorn FDA data breaches - Fresenius (FSNUY) announced that it is conducting an independent investigation, using external experts, into alleged breaches of FDA data integrity requirements relating to product development at Akorn (AKRX). It added, "The Management and Supervisory Boards of Fresenius will assess the findings of that investigation. The consummation of the transaction may be affected if the closing conditions under the merger agreement are not met. Fresenius does not intend to provide further updates as the investigation proceeds. Fresenius continues to seek FTC clearance."

17:04 EDT Qualcomm urges Broadcom to stop misleading shareholders, negotiate in good faith - Qualcomm (QCOM) responded to Broadcom's (AVGO) misleading comments regarding Qualcomm's engagement with Broadcom in connection with its proposal to acquire Qualcomm: "The latest statement issued by Broadcom is disingenuous and clearly intended to create a false impression about Qualcomm's level of engagement. In fact, Qualcomm has repeatedly attempted to engage with Broadcom on issues including price, including at meetings on February 14 and February 23. In each of those meetings, Broadcom has refused to engage on price. Earlier today, Qualcomm made a comprehensive proposal that addresses regulatory and other merger agreement issues in order to clear the way for a price discussion with Broadcom. The ball is in Broadcom's court to let us know whether it is willing to engage with us. Qualcomm's Board remains unanimous in its view that Broadcom's current offer of $79.00 per share, as well as the previous offer of $82.00 per share, materially undervalues the company. Broadcom's statements about Qualcomm considering moving the date of its annual meeting are false. Qualcomm has no intention of delaying the annual meeting and made that clear to Broadcom during our February 23 meeting."

17:02 EDT Pattern Energy to enter Japan markets with acquisitions - Pattern Energy Group announced a series of transactions highlighted by: 1) agreements to acquire 206 megawatts of owned capacity in projects from Pattern Energy Group LP and Green Power Investments; and 2) an additional investment in Pattern Energy Group 2 LP to fund the acquisition of a controlling interest in GPI, a Japanese renewable developer, from Pattern Development 1.0. The cash purchase price for the 84 MW portfolio of Futtsu, Kanagi, Otsuki and Ohorayama is approximately $131.5 million, which represents a 10.5x multiple of the five-year average cash available for distribution. The cash purchase price for the 122 MW Tsugaru project is approximately $194.0 million, which represents a 9.0x multiple of the five-year average CAFD1 starting with the first full year of operations in 2021. All funding required for the transactions will be provided from available liquidity at Pattern Energy.

16:51 EDT Diplomat Pharmacy reports Q4 total prescriptions 248,000 vs. 242,0000 last year

16:39 EDT Jagged Peak Energy CEO Joseph Jaggers to retire, James Kleckner to succeed - Jagged Peak Energy (JAG) Chairman, President and CEO Joseph Jaggers announced plans to retire at the end of March for health and personal reasons. Following an orderly transition, current independent director James Kleckner will become the company's President and CEO. Also as part of the succession plan, current company director Charles Davidson, former CEO of Noble Energy (NBL), will assume the role of Chairman. Both appointments will take effect on the date of Jaggers' retirement.

16:36 EDT Citizens Financial says 'not aware' of being subject of any active investigation - Citizens Financial Group issued the following statement: "Citizens' share price has underperformed the BKX index today by about 5%, largely in reaction to a press article which indicated that Citizens Bank may face regulatory issues with respect to a mortgage loan it made to a person subject to a legal investigation. Our policy is not to comment on ongoing governmental investigations. However, given the adverse movement in the stock today, we offer the following: We are not aware that we are the subject of any active investigation associated with the matter in the press article. We have a robust system of controls and procedures around AML/BSA and credit applications and there are currently no public enforcement actions related to our AML/BSA practices from any regulatory agency. We do not believe any matters under speculation in the article will have a negative impact on our regulatory standing, the conduct of our business or the execution of our strategic plan. We reaffirm our strong outlook for 2018."

16:34 EDT Ferroglobe reports Q4 adjusted EPS 6c, consensus 7c - Reports Q4 revenue $468.2M, consensus $463.41M.

16:29 EDT Centennial Resource Development sees growing annual oil production 85% in 2018 - "In 2018, we expect to grow our annual oil production by approximately 85% while maintaining a low and differentiated leverage profile,said CEO Mark Papa. "We remain focused on generating corporate returns for our shareholders and estimate our 2018 total capital program could generate GAAP return on equity and return on capital employed of approximately seven to ten percent, assuming $60 oil." Estimated fiscal year 2018 total capital budget is approximately $885M to $1.050B, including D&C capital, facilities, infrastructure, seismic, land and other expenditures. Centennial's production profile is predicated on a D&C budget of $710M to $820M, of which approximately 90% is associated with operated activity. To support future production growth, in 2018 Centennial has allocated approximately $125 million to $160M to facilities, infrastructure and other, which includes production facilities, saltwater disposal wells, water pipeline infrastructure and seismic, among other capitalized items.

16:26 EDT Emergent BioSolutions announce Phase 1 trial for Zika vaccine candidate - Emergent BioSolutions and Valneva announced the initiation of a Phase 1 clinical trial in the U.S. to evaluate the safety and immunogenicity of VLA1601, their vaccine candidate against Zika virus. The Phase 1 clinical trial is a randomized, observer-blinded, placebo-controlled, single center study. This study, in approximately 65 healthy adults, will investigate two dose levels of VLA1601 when administered using two different vaccination schedules. Initial data from the trial are expected to be available in late 2018 or early 2019. Under the terms of the agreement signed in July 2017, the parties will share all costs until the availability of Phase 1 data in the U.S. Valneva will be responsible for the program's execution until completion of the Phase 1 trial through a joint governance structure. Upon availability of Phase 1 data, Emergent will have the option to continue the development and commercialization of a Zika vaccine under its worldwide exclusive license agreement with Valneva for a milestone payment of EUR5M. The agreement provides Valneva potential additional milestone payments of up to EUR44M related to product development, approval, commercialization, and product sales, future royalties on annual net sales, and the right, prior to a Phase 3 clinical trial, to negotiate with Emergent exclusive commercialization rights in Europe.The companies are expected to enter into a technology transfer agreement at a later time to enable transfer of Valneva's technology to Emergent's Bayview manufacturing facility in Baltimore, Maryland.

16:21 EDT CrossAmerica reports Q4 adjusted EPS 59c, consensus 8c - Reports Q4 revenue $552.66M, consensus $570.75M.

16:21 EDT Willis Towers Watson increases share repurchase authorization - The Willis Towers Watson board approved a replenishment of the amount authorized under the share repurchase program. In 2016, the board had authorized up to $1.2B for share repurchases. Approximately $600M remained under the previous board authorization at December 31, 2017. Accordingly, the board authorized up to an additional $400M under the share repurchase program to be consistent with the previous authorization.

16:20 EDT CoreLogic sees 2018 tax rate 26% vs. 35% in 2017 - The company said, "In December 2017, the Tax Reform Act was passed reducing the U.S. federal corporate income tax rate from 35.0% to 21.0% effective as of January 1, 2018, assessing a one-time transition tax on foreign earnings that were previously tax deferred and creating new taxes on certain foreign-sourced earnings. For the year ended December 31, 2017, the Company recorded a $38 million provisional tax benefit related to the remeasurement of its deferred tax balances. CoreLogic is currently analyzing foreign unremitted earnings to reasonably estimate the effects of the one-time transition tax and expect to record the transition tax during 2018. Based on currently available interpretations and information regarding the likely impacts of the Tax Reform Act, the Company projects its normalized effective tax planning rate for 2018 will be approximately 26%, down from 35% in 2017."

16:15 EDT VolitionRx says study demonstrates high detection rates of Stage I cancer - VolitionRx announced interim results from its first asymptomatic colorectal cancer frontline screening study. This ongoing study is being carried out in collaboration with Hvidovre Hospital, University of Copenhagen, Denmark and involves 680 subjects from the Danish National CRC Screening Program. The interim results demonstrated that a small panel of three ELISA assays, when considered with the subjects' ages and smoking histories, produced an area under the curve (AUC) of 83% and was able to detect 80% of Stage I CRC cases and 66% of High-Risk Adenomas (HRA) at 78% specificity, respectively. Cameron Reynolds, Chief Executive Officer of Volition, commented, "After seven years of hard work, we are happy to announce these excellent early detection interim results from our ongoing front-line screening trial for colorectal cancer...We believe these are the first data to show high detection rates in a blood test, not only of early Stage I cancer, but also of the extremely important high-risk pre-cancerous adenomas. We believe that with further development, our Nu.QTM panel could form the basis of new CRC tests with early stage disease detection, and that our tests could become accessible to and usable by a wide section of the screening population around the world."

16:11 EDT Air Transport Services hires Mike Berger as CCO - Air Transport Services Group announced it has hired Mike Berger as Chief Commercial Officer. Berger will assume responsibility for the sales and marketing strategy and execution for the ATSG family of companies, and will also be President of Airborne Global Solutions, ATSG's commercial and consulting enterprise responsible for selling the bundled solutions of the ATSG family of companies. Berger will report to ATSG Chief Operating Officer Rich Corrado.

16:10 EDT LSB Industries sees FY18 UAN volume of 480,000-490,000 tons -

16:07 EDT Fiesta Restaurant approves repurchase program for up to 1.5M shares - During the fourth quarter of 2017, as previously disclosed, Fiesta refinanced its debt, entering into a new senior secured credit facility with a syndicate of lenders that matures in November 2022 and provides up to $150M of revolving credit borrowings. The company also announced that its board of directors has approved a share repurchase program for up to 1.5M shares of the company's common stock. Under the share repurchase program, shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws.

16:04 EDT Nutrisystem falls 25% afterhours following Q4 earnings miss and Q1 outlook

15:53 EDT Medtronic to recall some defibrillators due to manufacturing error - Medtronic will recall cardiac resynchronization therapy with defibrillation, or CRT-D, and implantable cardiovert-defibrillators, or ICDs, due to a defect in the manufacturing process. ICDs and CRT-Ds are devices that provide pacing for slow heart rhythms, and electrical shock or pacing to stop dangerously fast heart rhythms. This defect causes a gas mixture inside the device and may prevent the device from delivering the electrical shock needed to pace a patient's heartbeat or revive a patient in cardiac arrest.The delay or inability to deliver a shock to a patient in cardiac arrest or pace a patient's heart whose heartbeat is too slow could result in serious injury and/or death. The FDA has identified this as a Class I recall, the most serious type of recall.

15:01 EDT Tesaro enters into clinical collaboration with Genentech - Tesaro (TSRO) announced that it has entered into a clinical collaboration with Genentech, a member of the Roche Group (RHHBY), to evaluate the combination of the PD-L1 antibody atezolizumab and Tesaro's PARP-inhibitor ZEJULA in patients with metastatic bladder cancer. The collaboration includes testing the experimental combination in MORPHEUS, Roche's novel cancer immunotherapy development platform. MORPHEUS is a Phase 1b/2 adaptive platform to develop combinations of cancer immunotherapies more rapidly and efficiently. The planned trial will be conducted by Genentech and is expected to begin mid-2018.

14:22 EDT Trump Effect: Citizens Financial slides on alleged illegal dealing with Manafort - Shares of Citizens Financial (CFG) are sliding following a media report on Citizens Bank's possible involvement in a fraudulent loan scheme by Paul Manafort, President Donald Trump's former campaign chairman who is under investigation by multiple agencies and who was previously indicted on multiple counts that included conspiracy against the U.S., conspiracy to launder money and making false statements. Commenting on the news reports, Evercore ISI analyst John Pancari argued that the risk of a Bank Secrecy Act or anti-money laundering issue at the bank is likely to remain a near-term overhang on Citizens' stock, while his peer at Morgan Stanley said he believes the selloff in the shares is likely overdone. DEALINGS WITH MANAFORT: Federal charges against President Donald Trump's ex-campaign chairman Paul Manafort may pose legal and regulatory risks for the banks that loaned him millions of dollars in recent years, especially for Citizens Bank, which employed a "conspirator" in Manafort's scheme to obtain a loan he could not afford, according to the Providence Journal, citing a new indictment unsealed this week. Identified as "Lender B" in court documents, Citizens Bank lent Manafort $3.4M based on fraudulent documents and, in another case, appeared to help Manafort avoid being caught by sending back a falsified financial statement that had been sent to them from a Manafort associate, the publication added. OVERHANG ON SHARES: Following the news, Evercore ISI's Pancari told investors that while nothing has been substantiated by regulators and/or Citizens Financial management, the risk of a BSA/AML issue at the bank is likely to remain a near-term overhang on the stock, at a minimum. The key investor concern is that such an investigation could develop into a formal regulatory consent order, which could weigh on operational costs while also limiting growth, he contended. Moreover, the analyst believes the politically visible nature of the Manafort investigation is likely to exacerbate the headline risk. Pancari has an Outperform rating and $53 price target on the shares. SELLOFF MAY BE EXCESSIVE: Meanwhile, Morgan Stanley analyst Ken Zerbe argued in a research note of his own that if indeed Citizens Bank proves to be at fault, it appears to be more of an isolated event rather than a systematic risk management problem. The analyst expects regulators to take a closer look at Citizens' risk management and compliance policies, but does not believe this "will snowball" into a Wells Fargo (WFC) type situation, particularly if it was driven by just one or two employees. Being "Lender B" also implies other banks were also involved, he pointed out. While the headline risk is valid, Zerbe noted he thinks the selloff in the stock is likely "overdone." He reiterated an Overweight rating on the shares. PRICE ACTION: In afternoon trading, shares of Citizens Financial have dropped about 4% to $44.61. "Trump Effect" is The Fly's recurring series of exclusive stories that highlight stocks that are being impacted, or are predicted to be impacted, by the comments, actions and policies of President Trump and his administration.

13:31 EDT ModusLink to change name to Steel Connect, effective February 27 - ModusLink Global Solutions (MLNK) announced that it will be changing its name to Steel Connect, Inc (STCN). effective February 27, 2018. The company has requested that Nasdaq change its trading symbol in connection with the name change. Effective Tuesday, February 27, 2018, shares of the Company's common stock will trade on the Nasdaq Global Select Market under the new ticker symbol STCN. "We are rebranding the corporate entity to more accurately reflect our business today, following our acquisition of IWCO Direct in December 2017," stated Warren Lichtenstein, Executive Chairman.

12:20 EDT Frazier Healthcare reports 5.8% stake in Collegium Pharmaceutical

12:18 EDT Philips Lighting plans to repurchase 2.2M shares from Royal Philips - Philips Lighting announced that it intends to repurchase 2.2M of its ordinary shares from Royal Philips. Royal Philips announced its intention to offer approximately 16.2M shares in Philips Lighting, currently owned by Royal Philips, to institutional investors by means of an accelerated bookbuild offering. The Offering represents approximately 11.6% of Philips Lighting's issued share capital. Philips Lighting will not receive any proceeds from the sale. As part of this transaction, Philips Lighting has committed to participating in the Offering and placing an order to repurchase 2.2M shares, up to a maximum of 25% of the total number of shares in the Offering. Royal Philips will allocate Philips Lighting's order in whole. The share repurchase is subject to the satisfaction or Philips Lighting's waiver of a number of conditions, including the successful completion of the Offering and an offer price not exceeding today's closing price of the ordinary shares. Philips Lighting intends to cancel these shares. The repurchase will be financed from Philips Lighting's own funds and is in line with its previously announced intention to repurchase shares for an amount of up to EUR150M by participating in share disposals by Royal Philips in 2018. The offer price and final number of shares sold will be determined by Royal Philips at the conclusion of the bookbuilding process and will be announced by Royal Philips and Philips Lighting in separate press releases. The transaction is expected to settle on March 1, 2018.

12:12 EDT Sypris Solutions unit wins additional contracts with Harris - Sypris Electronics, LLC, a subsidiary of Sypris Solutions (SYPR), announced that it has recently received multiple contract awards from Harris Corporation (HRS) to manufacture a variety of mission-critical electronic assemblies for a number of Government programs. Terms of the agreements were not disclosed. The awards from Harris include the production of a variety of electronic assemblies for multiple munition dispensing systems. Awards included systems for the US Navy as well as multiple foreign military programs. Production will begin in 2018.

12:03 EDT C.H. Robinson names Robert Biesterfeld as COO, effective March 1 - C.H. Robinson announced that Robert Biesterfeld has been promoted to COO, effective March 1, 2018. Biesterfeld will continue to report to John P. Wiehoff, Chairman and CEO. In his new role, Biesterfeld will have direct responsibility for C.H. Robinson's five business divisions, including North American Surface Transportation, Global Forwarding, Robinson Fresh, Europe Surface Transportation, and Managed Services, along with the company's commercial operations and information technology. He will continue to serve as President of NAST. Biesterfeld has been with the company for 19 years. Prior to becoming President of NAST, he was Vice President, Truckload.

12:01 EDT C.H. Robinson names Robert Biesterfeld as COO, effective March 1 - C.H. Robinson announcedthat Robert Biesterfeld has been promoted to COO, effective March 1, 2018. Biesterfeld will continue to report to John P. Wiehoff, Chairman and CEO. In his new role, Biesterfeld will have direct responsibility for C.H. Robinson's five business divisions, including North American Surface Transportation, Global Forwarding, Robinson Fresh, Europe Surface Transportation, and Managed Services, along with the company's commercial operations and information technology. He will continue to serve as President of NAST. Biesterfeld has been with the company for 19 years. Prior to becoming President of NAST, he was Vice President, Truckload.

11:59 EDT Novo Holdings reports 6.6% passive stake in SeaSpine Holdings - In a regulatory filing, Novo Holdings disclosed a 6.6% stake in SeaSpine Holdings, representing 882,332 shares. The filing does not allow for activism.

11:40 EDT MakeMyTrip, OYO partner to offer OYO accommodation - MakeMyTrip and OYO announced their partnership whereby OYO's chain of hotels across India, Malaysia and Nepal will be listed and available for booking on MakeMyTrip across its popular OTA brands MakeMyTrip and Goibibo. The partnership will add momentum to India's rapidly growing travel sector by bringing together OYO's large base of economy, mid-segment and vacation rentals assets and India's largest online travel customer-base served by MakeMyTrip, Goibibo & RedBus. Reference Link

11:29 EDT Airstream announces $40M Jackson Center plant expansion - Airstream, a subsidiary of Thor Industries, is poised to break ground on the most significant plant expansion in company history. The enhanced Jackson Center facility will support improved product quality, create jobs, enable increased production, and improve experiences for Airstream associates, customers and visitors. The $40M project to create a new 750,000 square-foot facility, which will also be completely powered by renewable energy credits, is set to break ground in late spring 2018 with completion expected in 2019. The plant expansion will consolidate multiple production spaces into one facility, bringing the assembly of the company's travel trailers under one roof. The current 255,000 square-foot travel trailer plant will be converted for use building Airstream's motorized touring coaches, freeing up production space to support a growing line of products that appeal to a broad spectrum of RV enthusiasts. As a result of the expanded capacity, Airstream expects to hire additional associates, bringing total employment in Jackson Center to around 1,200 people. A state-of-the-art training center in the new factory will provide Airstream and dealer associates with a hands-on shop floor environment for earning certifications, learning new skills, and mastering new production and maintenance techniques. All of this is designed to improve the experience of Airstream customers.

11:03 EDT Honeywell sees 4,000-4,200 new civil helicopter deliveries over next 5 years - Honeywell, in its 20th annual "Turbine-Powered Civil Helicopter Purchase Outlook," forecasts 4,000 to 4,200 new civilian-use helicopters will be delivered from 2018 to 2022, aligning with the five-year forecast from 2017, the company announced. "With the expectation of stable purchase plans for new helicopters over the next five years, Honeywell is focused on bringing increased value to operators' current and new fleets by offering Connected Helicopter engine, Health and Usage Monitoring Systems, and avionics solutions that help boost a platform's efficiency and availability," said Ben Driggs, president, Americas, Honeywell Aerospace.

10:34 EDT Analyst says buy UPS as 'Amazonaphobia' likely overdone - Loop Capital analyst Rick Paterson upgraded UPS (UPS) to Buy this morning, telling investors that he believes "Amazonphobia" is likely overdone. Noting that Amazon (AMZN) should represent only 4%-6% of lower margin revenues at UPS, the analyst argued that if all of that is ultimately brought into the e-commerce giant's own network, its "hardly a disaster." BUY UPS: In a research note to investors, Loop Capital's Paterson upgraded UPS to Buy from Hold with an unchanged price target of $131. The analyst pointed out that "absolutely nothing" about his view on UPS has changed, only the stock price has, which has been in "free-fall" due to a higher than expected capital spend for aircraft announced on the company's fourth quarter earnings call and telegraphed to continue through 2020, and news breaking that Amazon plans to offer some limited parcel delivery services to third parties, effectively crossing the red line from private fleet to for-hire competing carrier. While he believes the first worry on aircraft spending is largely justified, Paterson argued that the concern around Amazon may be "a little overblown." His "guesstimate" is that Amazon represents about 4%-6% of lower margin revenues at UPS. If all of that is ultimately brought into Amazon's own network, that is "hardly a disaster," plus it would take some pressure off UPS' capex, he contended. Further, Paterson noted that If Amazon wants to dabble in the for-hire part of the business to help keep its facilities, trucks and aircraft more fully utilized, or provide some leverage in pricing negotiations with UPS or FedEx (FDX), he can "also live with that." While a worst-case scenario will be Amazon seeking to build a UPS or FedEx clone from scratch, he just does not see it as probable. WHAT'S NOTABLE: Meanwhile, the shipping giant announced that it has expanded its UPS Worldwide Express package service to reach 124 countries and territories, providing an earlier delivery option for customers to more locations. UPS now reaches more countries and territories with express midday than any other carrier. In 2017, UPS Express service was added to 7,000 new postal codes in 57 countries and territories. PRICE ACTION: In morning trading, shares of UPS have gained about 1% to $106.27.

10:22 EDT DowDuPont announces brand names for three independent companies - DowDuPont announced the corporate brand names that each of its divisions plans to assume once they are separated as independent companies as intended. While certain product names will change at separation, many products within each intended company will continue be sold under their current, widely known brand names. The intended Agriculture company, headquartered in Wilmington, Delaware, will assume the name Corteva Agriscience. The Materials Science Division will be called Dow, and will retain the Dow diamond as its brand. The Specialty Products Division will be the new DuPont. As announced earlier this month, Materials Science is anticipated to separate by the end of the first quarter of 2019, and Agriculture and Specialty Products are expected to separate by June 1, 2019.

09:39 EDT Buffett leaving Kraft board may renew Mondelez speculation - After Warren Buffet decided to retire from the board of Kraft Heinz (KHC), Dealreporter suggested that the company may become more aggressive on acquisitions, according to contacts. Over the summer, "Buffet threw cold water on rumors" that Kraft would make another run at Unilever (UN) as well as speculation Kraft would buy Mondelez (MDLZ), the report added, according to contacts.

09:31 EDT Dean Foods expects full year dairy commodity deflation - Says 2018 will be a year of transformation. Says will continue to leverage market insights to drive profitability. Says maintained leading dollar share on DairyPure and TruMoo in their respective category segments. Says plans to launch marketing campaign and diversify portfolio in product line. Says focused on driving incremental ACV in conventional channels for Uncle Matt's Organic. Says expanding innovation in cakes and sundae cups. Says continuing geographic expansion for ice cream. Says will continue to invest in brands for product advertising, diversification. Says expects to consolidate supply chain with targeted completion in 2019 and focused on coordinated approach to manage spend across all categories. Says taking further steps to integrate operating model. Expects a normalized tax rate of 26.5% going forward. Says will invest in people, building warehouse capability, technology. Says for raw milk USDA is forecasting supply growth of 1-2% in 2018. Says Q1 costs forecasted to be down 13% sequentially; down 15% YoY. Says certain non-dairy commodities are a headwind. Comments taken from Q4 earnings conference call.

09:17 EDT Vertex names Reshma Kewalramani as chief medical officer - Vertex Pharmaceuticals Incorporated announced that Reshma Kewalramani, M.D., has been appointed Chief Medical Officer and Executive Vice President, Global Medicines Development and Medical Affairs, effective April 1, 2018. Kewalramani currently serves as Senior Vice President, Clinical Development and Medical Affairs at Vertex and will succeed Jeffrey Chodakewitz, M.D., who is retiring from his role as Chief Medical Officer and Executive Vice President, Global Medicines Development and Medical Affairs. Chodakewitz will remain with Vertex as a senior advisor through early 2019.

09:16 EDT Hyatt appoints Mark Vondrasek as CCO - Hyatt Hotels Corporation announced the appointment of Mark Vondrasek as the company's chief commercial officer. In this role, Vondrasek will be responsible for the previously announced commercial services organization driving guest and customer engagement functions while working across the organization to enhance the frequency and level of engagement with guests. Vondrasek will assume his new role effective March 1, 2018, continuing to report to Mark Hoplamazian, president and chief executive officer. Vondrasek will continue to oversee the World of Hyatt loyalty platform as well as new growth platforms, including Miraval and exhale, along with global sales, revenue management, distribution strategy, corporate marketing, brands, communications, digital, consumer insights and global contact centers. Information technology will report into Alex Zoghlin, global head of data strategy, innovation and technology. Hyatt further announced Jim Chu has been selected as global head of development and owner relations to maintain and enhance the momentum in new hotel development around the world, continuing to report to Chuck Floyd, global president of operations. Building on the previously announced streamlined structure for full service and select service operations, managed and franchised operations and development will reside within each region. Additionally, James Francque has been appointed head of transactions, focusing on new investment opportunities for the company, and reporting to Mark Hoplamazian.

09:11 EDT Goldman Sachs-backed Circle buys Poloniex cryptocurrency exchange - Circle has extended its commitment to a new vision for global finance by acquiring Poloniex, a token exchange platform. Built upon a foundation of blockchain technology and crypto assets, Circle is on a mission to make it possible for everyone, everywhere to create and share value. Circle Trade serves institutions and investors as one of the world's largest providers of crypto asset liquidity; and forthcoming Circle Invest app enables individuals to tap into crypto asset investment through a simple mobile experience. In the coming years, the company expects to grow the Poloniex platform beyond its current incarnation as an exchange for only crypto assets. The company envisions a robust multi-sided distributed marketplace that can host tokens which represent everything of value: physical goods, fundraising and equity, real estate, creative productions such as works of art, music and literature, service leases and time-based rentals, credit, futures, and more.

09:07 EDT Land & Buildings issues open letter on Taubman Centers - Land & Buildings Investment Management issued the following letter to the independent members of the Board of Directors of Taubman Centers, regarding Taubman's continued poor performance and the need for change to finally turn around the issues that have plagued the Company. The letter read, "Since our public campaign began over a year ago, Taubman's operating and financial performance has remained disappointing and concerning. We believe this pattern of lackluster performance is directly tied to TCO's resistance to change - namely its desire to do the bare minimum when it comes to enhancing corporate governance and independent board oversight. The poor share price performance, dismal earnings and dysfunctional capital allocation that has persisted in our view leaves shareholders no choice but to hold the Board accountable to ensure the focus is on maximizing value for all shareholders - not just the Taubman Family - and truly changing the culture inside the boardroom at TCO....We believe that there is still substantial opportunities to materially improve operating results and capital allocation in order to unlock value at Taubman. We fully intend to continue advocating for shareholders by ensuring that the Board goes beyond simply taking reactive measures due to shareholder pressure, but rather that a true change in culture takes place at Taubman."

09:04 EDT Western Digital names Lori Sundberg chief human resources officer - Western Digital (WDC) announced that Lori Sundberg has joined the company as chief human resources officer, effective today. Sundberg will report to Western Digital CEO Steve Milligan and lead key global human resources initiatives and people strategies to support Western Digital's ongoing transformation as the world's leading data technology company. She will succeed Jackie DeMaria, who is retiring after a successful 13-year tenure with Western Digital. She most recently served as senior vice president, Global Human Resources at Jacobs (JEC).

09:03 EDT Alexander & Baldwin acquires three premier Hawaii retail centers - Alexander & Baldwin further solidified its position as Hawaii's foremost owner of grocery/drug-anchored shopping centers with the acquisition of three premier retail centers: Laulani Village Shopping Center, Hokulei Village Shopping Center, and Pu'unene Shopping Center. A&B acquired the shopping centers from California-based Terramar Retail Centers $254M, including the assumption of $62M in mortgage debt. The transaction closed on February 23.

09:03 EDT Sequential Brands reports new pets partnership for Martha Stewart brand - Sequential Brands Group announced the Martha Stewart brand's new line for pets with new partners design LAB, Inc. and Fetch for Pets. The collection will launch in Spring 2018 and feature a variety of quality, functional and innovative products that ensure the best in care for household pets. In collaboration with design LAB, Inc., the Martha Stewart pets line will include apparel, bedding, restraints, toys, and feeding which will be available for purchase on QVC in March and on Amazon in April. The collection will expand later in the year to include travel, special occasion items and steps and strollers.

09:02 EDT Zion Oil & Gas successfully drills, logs, and cases Deep Israel Well - Zion Oil & Gas announces that it has successfully drilled its Megiddo-Jezreel #1 well to a total depth of 5,060 meters, or about 16,600 feet. Zion also successfully obtained three open-hole wireline log suites. The well has also been cased and cemented in preparation for upcoming testing of multiple zones of interest, including zones where free-flowing hydrocarbons were collected after circulating mud in the borehole

09:01 EDT Adverum reports completion of dosing in first cohort of Advance Phase 1/2 trial - Adverum Biotechnologies announced the completion of dosing and evaluation of patients in the first cohort of the ADVANCE Phase 1/2 clinical trial for alpha-1 antitrypsin deficiency. Patients were treated with a single administration of ADVM-043 at a dose of ~1E12 vg/kg. Based on a review of the preliminary safety data, the independent data monitoring committee has recommended proceeding to the second cohort of patients, which is open for enrollment. The ADVANCE Phase 1/2 clinical trial is a multi-center, open-label, dose-escalation study of ADVM-043 in patients with A1AT deficiency. The study will include up to 20 patients across up to four dosing cohorts of up to 5 patients each. The first cohort received an intravenous low dose of ADVM-043 of ~1E12 vg/kg. The second cohort will receive an IV intermediate dose of ~5E12 vg/kg and the third cohort will receive an IV high dose of ~1.5E13 vg/kg. A potential fourth cohort may be opened to evaluate an intrapleural delivery of ADVM-043. The study will be conducted at 5 leading centers in the United States. The primary endpoint is safety and tolerability and secondary endpoints include changes in plasma concentrations of both total and M-specific A1AT levels. Adverum expects to report preliminary data from this trial in the second half of 2018.

08:48 EDT Spectrum Brands, HRG Group to combine in transaction valued at $10B - Spectrum Brands Holdings (SPB) and HRG Group (HRG), a holding company with shares of Spectrum Brands as its principal holding, announced that they have entered into a definitive merger agreement pursuant to which Spectrum Brands will combine with HRG. As a result, HRG's shareholders will effectively hold HRG's interests in Spectrum Brands directly following the combination. The transaction has been unanimously recommended by the Special Committee of independent directors of the Spectrum Brands Board of Directors, and was also approved by the Spectrum Brands and HRG boards. Under the terms of the agreement, immediately prior to closing, HRG will effect a reverse stock split such that HRG shareholders receive in the aggregate a number of shares of the combined company equal to the number of shares of Spectrum Brands currently held by HRG, subject to certain adjustments to account for HRG's net debt and transaction costs as well as a $200M upward adjustment. The $200M upward adjustment takes into account that the combination transforms Spectrum Brands into an independent public company with no controlling shareholder and a widely held shareholder base as well as certain favorable tax attributes of HRG. Upon closing, Spectrum Brands shareholders will receive one newly issued share of the combined company for each share of Spectrum Brands that they owned prior to the combination. The transaction is expected to be tax free to Spectrum Brands and Spectrum Brands shareholders, and to HRG and HRG shareholders. Following the transaction, the current Spectrum Brands management team will lead the combined company. In addition, HRG's board will be replaced by the Spectrum Brands board. Ehsan Zargar will resign from the Spectrum Brands board and will be replaced by an independent director to be selected by Leucadia National Corporation, HRG's largest shareholder. Leucadia also has an ongoing right to designate one director, so long as it owns at least 10% of the number of combined company's shares issued and outstanding as of the closing, which is initially expected to be the current Spectrum Brands' director and Leucadia's Chairman, Joseph Steinberg. Pro forma for the reverse stock split, the merger and the adjustments described above, Leucadia is expected to hold approximately 13% of the combined company and another 45% of the combined company is expected to be widely held by HRG's legacy stockholders. Such ownership percentages assume approximately $324M of HRG's net debt at closing and are based on the number of shares outstanding and market prices as of February 22, 2018. The transaction is expected to close by the end of the second calendar quarter of 2018. The combined company will be named Spectrum Brands Holdings, Inc. and will trade under the ticker "SPB." The company will remain headquartered in Middleton, Wisconsin.

08:35 EDT Fortress Biotech announces Aevitas agreement with UMass Medical School - Fortress Biotech announced that its subsidiary, Aevitas Therapeutics has entered into a sponsored research agreement, or SRA, with the laboratory of Guangping Gao, Ph.D., at the University of Massachusetts Medical School. The SRA will evaluate construct optimization in the development of gene therapies based on Aevitas' adeno-associated virus technology. Aevitas also announced the formation of a scientific advisory board and has named Gao as its first member. Gao has more than 20 years of experience in the discovery and characterization of AAV serotypes.

08:35 EDT Honeywell, EQUATE sign MOU to enhance petrochemical plants In Kuwait - Honeywell and EQUATE Petrochemical Company announced the signing of a memorandum of understanding to further the development of innovative technologies to support operations at EQUATE's industrial complexes. As part of the MOU, EQUATE will test newly released Honeywell technologies, including the latest additions to the Honeywell Connected Plant portfolio, as well as assess EQUATE's requirements and new ideas at Honeywell facilities. The companies will join efforts to analyze EQUATE's needs and create added value through increased productivity and reduced downtime, setting a new standard for the petrochemical industry in the region.

08:34 EDT AMC Networks announces proposal to acquire RLJ Entertainment for $4.25 per share - AMC Networks (AMCX) announced that it is proposing to acquire the outstanding shares of RLJ Entertainment (RLJE) not currently owned by AMC Networks or entities affiliated with Robert L. Johnson for a purchase price of $4.25 per share in cash. RLJ Entertainment is a premium digital channel company which serves distinct audiences primarily through its OTT branded channels, Acorn TV and UMC. Through this offer, AMC Networks intends for RLJ Entertainment to become a privately owned subsidiary of AMC Networks, with a minority stake held by Mr. Johnson. The offer price represents a 10% premium to the closing price of the RLJ Entertainment common stock on Friday, February 23, a 12% premium to the volume weighted average trading price of the RLJ Entertainment common stock over the last ten trading days and a 126% premium to the closing price of the RLJ Entertainment common stock on the day prior to the announcement of AMC Networks' initial investment.In October 2016, AMC Networks and RLJE Entertainment formed a strategic partnership pursuant to which AMC Networks invested $65M in RLJ Entertainment in the form of loans and AMC Networks received warrants which, if fully exercised, would provide AMC Networks with at least 50.1% of the outstanding RLJ Entertainment common stock on a fully diluted basis. AMC and Mr. Johnson currently own approximately 26% and 47% of the outstanding shares of RLJ Entertainment common stock, respectively. AMC Networks has advised RLJ Entertainment that it is only interested in acquiring the shares of RLJ Entertainment not owned by AMC Networks or entities affiliated with Mr. Johnson and has no interest in disposing of its stake in RLJ Entertainment or participating in any other strategic process. AMC Networks expects the Board of Directors of RLJ Entertainment to form a special committee of independent directors to consider the proposal with the assistance of an outside financial advisor and legal counsel and to negotiate the proposal with RLJ Entertainment. Mr. Johnson and the directors of RLJ Entertainment nominated by AMC Networks will not participate in the evaluation of the proposal. There can be no assurance that the proposal made by AMC Networks to RLJ Entertainment will result in a transaction or the terms upon which any transaction may occur.

08:33 EDT Southwestern Energy appoints Julian Bott as CFO, effective March 5 - Southwestern Energy announced that Julian Bott is joining the company as Executive Vice President and will become CFO on March 5. Jennifer Stewart, who has served as CFO on an interim basis, will become Senior Vice President, Government and Regulatory Affairs.

08:31 EDT Interpace: Horizon Blue Cross Blue Shield of NJ to cover molecular thyroid tests - Interpace Diagnostics Group announced that Horizon Blue Cross Blue Shield of New Jersey, the health plan in New Jersey covering 3.8 million patients living in the Northeastern United States, has agreed to cover both of Interpace's molecular-based thyroid tests, ThyGenX and ThyraMIR, for its members effective January 9, 2018. With the addition of Horizon BCBSNJ's members, ThyGenX and ThyraMIR are now covered for over 275 million patients nationwide, including through Medicare, Medicare Advantage, and national and regional health plans. This decision, among that of several other Blue Cross Blue Shield plans across the country, follows a recent technology assessment review that found ThyGenX and ThyraMIR have a favorable impact on patient outcomes.

08:28 EDT Buffett not ruling out buying shares of fifth airline - Warren Buffett, while speaking on CNBC, said he wouldn't rule out buying shares of another airline. Berkshire currently has stakes in four airlines: American Airlines (AAL), United Continental (UAL), Delta Air Lines (DAL) and Southwest Airlines (LUV). Buffett added that his stakes in the four likely won't exceed 10%. Other publicly traded airlines include Alaska Air (ALK), JetBlue (JBLU), Avianca (AVH), Spirit Airlines (SAVE), GOL Linhas (GOL) and Latam Airlines (LTM).

08:22 EDT Buffett says doesn't own Amazon, but wouldn't bet against it - Warren Buffett is speaking on CNBC.

08:19 EDT ARCA Biopharma announces clinical results from Genetic-AF trial - ARCA Biopharma announced clinical results from GENETIC-AF, a Phase 2B, double-blind, superiority clinical trial evaluating Gencaro as a genetically-targeted treatment for atrial fibrillation, or AF, in patients with heart failure and reduced left ventricular ejection fraction. In all patients, Gencaro demonstrated a similar treatment benefit compared to the active control, metoprolol succinate. In U.S. patients, a trend for potential superior benefit in favor of Gencaro was observed for the primary endpoint of time to recurrence of AF. Additionally, in U.S. patients, Gencaro demonstrated a trend for potential superior benefit in favor of Gencaro in a subset of patients who underwent continuous heart rhythm monitoring with Medtronic implanted devices. Safety data indicated that Gencaro was generally safe and well-tolerated in the AF/heart failure (HF) population investigated with a safety profile similar to TOPROL-XL. GENETIC-AF enrolled 267 patients from the United States, Canada and Europe. The primary analysis was conducted to evaluate the evidence of safety and superior efficacy of Gencaro versus an active control with demonstrated effectiveness and safety in this patient population TOPROL-XL. The primary endpoint of the trial was time to recurrent AF, atrial flutter or all-cause mortality. The trial was not powered to conventional significance for this endpoint and utilized Bayesian statistical modeling of predictive probability of success of the primary endpoint to estimate outcome if the trial had enrolled 620 patients with 330 primary events. In all patients, Gencaro demonstrated a similar treatment benefit compared to the active control, TOPROL-XL, which was associated with a PPoS of 14%. In the U.S. patient cohort of 127 patients, a trend for potential superior benefit in favor of Gencaro over TOPROL-XL was observed with a PPoS of 61%, which was greater than the prespecified criteria set by the company to proceed to Phase 3 development. The company believes the difference in treatment effects between the overall and U.S. patient cohorts was primarily due to results in two non-U.S. countries exhibiting hazard ratios greater than1.0. The differences between patients enrolled at these sites versus the U.S. and other country cohorts are being investigated. Gencaro was generally safe and well-tolerated, with 84% of patients attaining their target dose compared to 72% of patients receiving TOPROL-XL. The most frequently reported adverse events were similar in both groups and consistent with the known safety profile of the beta-blocker class of drugs. Adverse events assessed as related to study drug by the investigator occurred in 23.8% of patients in the Gencaro group and in 30.1% of patients in the TOPROL-XL group. Of note, adverse events of bradycardia were less frequently reported in the Gencaro group compared to patients receiving TOPROL-XL. During the 24-week efficacy follow-up period there were three deaths in the TOPROL-XL group and none in the Gencaro group. Three patients died in the long-term treatment extension period after receiving Gencaro for more than a year.

08:16 EDT Pershing Gold begins preliminary construction activities at Relief Canyon - Pershing Gold announces the start of preliminary construction activities at Relief Canyon. On February 13, Ames Construction began initial land clearing in preparation for potential construction at Relief Canyon, including future heap leach pads, haul roads and waste rock storage facilities. If the company is able to achieve further financing for the project, it will then be able to move directly into construction of the heap leach pads, overland conveyors, crushing facilities, contractor yards, and process plant optimization. The current plan anticipates contract mining of the permitted Phase 1 open pit, and contract-mining personnel would mobilize during this period.

08:14 EDT Buffett says Teva not his pick, has not spoken about investment - Warren Buffett, while speaking on CNBC, says Berkshire's investment in Teva was not his decision and that he hasn't spoken about the investment internally.

08:12 EDT The RMR Group announces death of chairman Barry Portnoy - The RMR Group (RMR), Government Properties Income Trust (GOV), Hospitality Properties Trust (HPT), Industrial Logistics Properties Trust (ILPT), Select Income REIT (SIR), Senior Housing Properties Trust (SNH); Tremont Mortgage Trust (TRMT), Five Star Senior Living Inc. (FVE), TravelCenters of America (TA) and RMR Real Estate Income Fund announced the following: "It is with great sadness that we announce that Barry M. Portnoy, founder and Chairman of RMR, died on February 25, 2018. We extend our deepest condolences to Mr. Portnoy's family and our tremendous gratitude for his long standing service and unparalleled contributions to RMR and its managed companies." Portnoy founded what is now known as The RMR Group in 1986 and he served as its chairman and as a managing director of its parent company, The RMR Group Inc., since its inception. Adam Portnoy will continue to lead The RMR Group as its president and CEO and as a managing director.

08:11 EDT GTT Communications trading resumes

08:11 EDT Buffett sees 'top notch' CEO for healthcare initiative within a year - Warren Buffett, while speaking on CNBC, says the healthcare initiative between Berkshire Hathaway (BRK.A), Amazon (AMZN) and JPMorgan (JPM) should have a "top notch" CEO within a year. The initiative needs to find a way to "keep the good parts" of the current healthcare system while eliminating costs, Buffett said on CNBC.

08:10 EDT Avid Technology terminates CEO due to violations of workplace conduct policies - Avid Technology announced that the company's Board of Directors has appointed Jeff Rosica as CEO of Avid, effective immediately. The company's Board of Directors has terminated the employment of Louis Hernandez, Jr., former CEO, effective immediately, due to violations of Company policies related to workplace conduct. Hernandez has also resigned from his position on the Avid Board of Directors and Nancy Hawthorne has been elected Chairman of the Board.

08:10 EDT Maxar Technologies announces CFO William McCombe to step down - Maxar Technologies announced that William McCombe is stepping down as CFO of Maxar effective immediately. Anil Wirasekara, who previously served as CFO of MDA from 1994 to October 2017, will assume the duties of Interim CFO of Maxar pending the search for McCombe's replacement.

08:09 EDT Avid Bioservices announces resignation of CFO Paul Lytle - Avid Bioservices announced that on February 23, 2018, Paul J. Lytle notified the company of his intent to resign his position as CFO, effective May 24, 2018, to spend more time with his family prior to returning to work in the drug development sector. A search for Lytle's replacement has been initiated, and Mr. Lytle will support the transition.

08:08 EDT Verizon, Intel, Nokia collaborate on virtualized RAN architectures - Nokia (NOK), Intel (INTC) and Verizon (VZ) are collaborating on new groundbreaking Cloud RAN architectures to provide the flexibility needed for the operator's future services and requirements for 4G, 5G and IoT in the cloud. The first milestone in developing Verizon's vRAN 1.0 architecture and path to commercialization was a successful trial of Cloud RAN in Oklahoma City, using Verizon's existing edge cloud infrastructure and the Nokia AirScale Cloud Base Station Server, featuring the Intel Xeon Scalable Processor family. The trial furthers the joint work between Nokia and Intel to develop the next technological step of Cloud RAN, Verizon's vRAN 2.0 architecture, which will bring everything but the radio network in the cloud. The successful trial enables Nokia and Intel to push forward with Verizon to develop its new vRAN 2.0 architecture, which will use cloud computing capabilities that maximize efficiencies in preparation for the diverse demands of IoT and the 5G future.

08:07 EDT Endocyte, ITM announce supply agreement for Lutetium for Phase 3 trial - Endocyte announced a supply agreement under which ITM will supply to Endocyte the medical radioisotope no-carrier-added lutetium, EndolucinBeta, to support clinical supply of 177Lu-PSMA-617 for the phase 3 VISION trial expected to be initiated by Endocyte in the second quarter of 2018.

08:06 EDT Clearside Biomedical names William Humprhies as chairman - Clearside Biomedical announced the appointments of William Humphries as the new Chairman of the Board and Brion Raymond as Chief Commercial Officer. These appointments are intended to further prepare the company for the potential commercialization of CLS-TA for suprachoroidal administration, its proprietary suspension formulation of the corticosteroid triamcinolone acetonide for the treatment of macular edema associated with non-infectious uveitis. Clearside expects to report topline data from its pivotal Phase 3 PEACHTREE clinical trial of suprachoroidal CLS-TA in this indication in the first quarter of 2018 and, if the final data are positive, anticipates filing a New Drug Application with the U.S. Food and Drug Administration by the end of 2018. PEACHTREE is the first -pivotal phase 3 clinical trial of a drug candidate for noninfectious uveitis in which a best corrected visual acuity measure is the primary efficacy endpoint. If this trial meets its primary endpoint and marketing authorization is obtained, suprachoroidal CLS-TA can become a new paradigm for the treatment of visual impairment associated with macular edema due to non-infectious uveitis. Humphries succeeds Christy Shaffer, Ph.D., who has stepped down after serving as Chairperson, but will continue to serve as a member of the Board.

08:05 EDT Centene to acquire MHM Services, terms not disclosed - Centene announced that it has signed a definitive agreement to acquire MHM Services, a national provider of healthcare and staffing services to correctional systems and other government agencies. Under the terms of the agreement, Centene will acquire 100% of the stock of MHM, including its 49% ownership of Centurion, the correctional healthcare services joint venture between Centene and MHM. MHM provides behavioral health, medical and dental services to governmental agencies in a variety of patient care settings, including correctional facilities, state hospitals, courts, juvenile facilities and community clinics. The business currently serves over 330,000 individuals in over 300 facilities across the United States. Centene intends to fund the purchase price with a combination of cash and Centene stock. The transaction is expected to be accretive to earnings in the first 12 months. The transaction is expected to close in the first quarter of 2018, subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, approval by MHM stockholders and other customary closing conditions.

08:04 EDT Perry Ellis forms special committee to evaluate Feldenkreis proposal - Perry Ellis announced its Board of Directors has authorized a special committee of independent directors to evaluate the February 6, 2018, proposal from George Feldenkreis to acquire all of the outstanding common shares of Perry Ellis not already beneficially owned by Mr. Feldenkreis. The Special Committee is composed of Joe Arriola, Jane DeFlorio, Bruce J. Klatsky, Michael W. Rayden and J. David Scheiner. Mr. Scheiner will serve as chair of the Special Committee. The Special Committee has retained Paul, Weiss, Rifkind, Wharton & Garrison LLP and Akerman LLP as its legal counsel and PJ SOLOMON as its financial advisor to assist in its review. The Special Committee is evaluating the Proposal and no decision has been made with respect to the Company's response to the Proposal. There is no assurance the Proposal will result in a definitive offer to purchase the Company's outstanding capital stock or that any definitive agreement will be executed or that the Proposal or any other transaction will be approved or consummated. The Company will not move forward with any transaction unless it is approved by the Special Committee. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required by applicable law.

08:04 EDT Carpenter Technology acquires MB CalRAM; terms not disclosed - Carpenter Technology Corporation announced it has purchased MB CalRAM LLC, a company engaged in powder-bed fusion additive manufacturing metal printing services. Imperial Capital LLC served as exclusive financial advisor to MB CalRAM LLC on the transaction.

08:03 EDT Allegion makes minority investment in Nuki - Allegion has made, through one of its subsidiaries, a minority investment in European smart-home innovator Nuki. Founded in Austria in 2014, Nuki's cornerstone product is a retrofit residential smart lock. The Nuki Smart Lock, which is easily installed on top of an existing key and lock, offers Bluetooth-enabled smartphone and Nuki Fob credentialing and fits the majority of existing European locks. When used with the Nuki Bridge, it provides permanent internet connectivity and homeowner control from remote locations. With the Nuki Box, which is the latest addition to the company's product portfolio, entrance doors of multi-family housing become smart access systems. Through the alliance, Allegion and Nuki will work together to develop commercial initiatives that accelerate growth.

08:02 EDT China Information receives $1M cloud-based ad terminal order for Heze - China Information Technology announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Heze, a fast-growing prefecture-level city in southwestern Shandong Province. Signed with Heze Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million. Today's news is the twenty-first in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate recurring revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform. By 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

07:56 EDT Hill-Rom announces new MetaNeb System data - A group of researchers have reported that aggressive treatment after surgery using the Hill-Rom MetaNeb System may reduce the incidence of post-operative pulmonary complications, or PPCs, in high-risk surgical patients. Part of Hill-Rom's respiratory care product portfolio, the MetaNeb System combines lung expansion, secretion clearance and aerosol delivery into a single, efficient therapy. The researchers of the study found that the use of the Hill-Rom MetaNeb System may not only result in reduced PPCs, but may also reduce time spent on a ventilator and length of stay in the hospital. Taken together, these reductions also suggest the potential for an overall decrease in hospital expenditures for the treatment of this patient population. Researchers compiled data from three institutions and 419 enrolled patients in the study, which was conducted in two separate stages. When comparing one group of patients using the MetaNeb System combined with standard respiratory therapy to a second group using standard respiratory therapy alone, the study found that average hospital length of stay was approximately 1.6 days lower for patients receiving the combined therapies. The researchers concluded that the use of the Hill-Rom MetaNeb System combined with standard respiratory therapy could play a significant role in reducing the cost of care for this patient population by as much as an estimated $10,0001 per patient. Currently, the average estimated cost per patient associated with PPCs is approximately $62,7042.

07:55 EDT ARCA Biopharma trading halted, news pending

07:50 EDT Buffett says made 'hundreds of millions' on Samsung investment

07:42 EDT SK Telecom to invest $65M in ID Quantique - SK Telecom announced that the company will invest $65M in ID Quantique, the world's No.1 quantum-safe cryptography solutions provider based in Switzerland. ID Quantique and SK Telecom will, in parallel, collaborate in the field of Quantum Sensing in order to keep growing the company's core quantum photonics technologies and provide the most innovative solutions for high potential industrial markets.

07:40 EDT Mylan says Wendy Cameron to retire from Board - The Mylan Board of Directors announced that non-executive Director Wendy Cameron will retire from the Board after more than 16 years of service, effective after the 2018 Annual General Meeting of Shareholders. The Board also announced that it has nominated Pauline van der Meer Mohr as a candidate for election to Mylan's Board at the 2018 Annual General Meeting.

07:35 EDT Brink's enters into trademark licensing agreement with MONI Smart Security - Brink's (BCO) announced that it has entered into an exclusive trademark licensing agreement with MONI Smart Security, the primary operating subsidiary of Ascent Capital (ASCMA). Under terms of the agreement, MONI will have exclusive use of all Brink's trademarks related to the residential smart home and home security categories in the U.S and Canada, and Brink's will receive minimum and growth-based royalties that will increase over time as the Brink's Home Security brand is reintroduced. First-year royalties are expected to total approximately $5M and could more than double if the business grows as planned. The agreement provides for an initial term of seven years and allows for subsequent renewal periods, subject to certain performance metrics, that extend the agreement beyond 20 years. The rollout of the Brink's Home Security brand, which will result in a complete rebranding of MONI, is expected to be completed in Q2 of 2018.

07:32 EDT Antero Midstream Partners forms special committee - Antero Midstream Partners (AM) announced that the Board of Directors of Antero Midstream Partners GP LLC, the general partner of Antero Midstream, has formed a special committee comprised solely of independent directors in conjunction with the formation of special committees at both Antero Resources (AR) and at Antero Midstream GP (AMGP). Antero's ongoing efforts to explore, review and evaluate potential measures related to its valuation may include transactions involving Antero Midstream, and the AM Special Committee is being established to consider any such transactions. The AM Special Committee is in the process of hiring financial and legal advisors to assist in its evaluation of potential measures that could involve Antero Midstream.

07:31 EDT Ivanhoe Mines reports 50% increase in indicated mineral resources at Kakula - Robert Friedland, Executive Chairman of Ivanhoe Mines, and Lars-Eric Johansson, CEO, announced that the company has completed an independently verified, updated Mineral Resource estimate for the ultra-high-grade Kakula Discovery on the Kamoa-Kakula Copper Project, near the mining centre of Kolwezi in the Democratic Republic of Congo. The tier-one Kamoa-Kakula Project is a joint venture between Ivanhoe Mines, Zijin Mining and the government of the Democratic Republic of Congo. The updated Kakula Mineral Resource estimate, prepared under the direction of independent consultant Amec Foster Wheeler, covers a mineralized strike length of 13.3 kilometres. For the first time, the updated estimate incorporates Mineral Resources contained in the Kakula West Discovery area and the saddle area between the main Kakula Discovery area and Kakula West. The new estimate boosts the total tonnage of Kakula's Indicated Mineral Resources by 50%, at a 3% copper cut-off, compared to the previous Kakula resource estimate issued in May 2017 that covered a strike length of 7.7 kilometres.

07:14 EDT Seadrill settles in Chapter 11 cases - Seadrill succeeded in reaching a global settlement with an ad hoc group of bondholders, the official committee of unsecured creditors, and other major creditors in its chapter 11 cases. As a result of the settlement, approximately 70% of the company's bondholders by principal amount have now signed an agreement to support the company's restructuring. Approximately 99% of the Company's bank lenders by principal amount had previously signed and remain party to the agreement. The settlement adds additional bondholders as commitment parties to the company's approximately $1B new capital raise and also significantly increases proposed distributions to general unsecured creditors under the plan. The settlement also includes an agreement regarding the amount and treatment of the claims of Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering two shipyards that are party to newbuild contracts with the company.

07:13 EDT Buffett says leaving Kraft board does not indicate declining interest - Warren Buffett is speaking on CNBC.

07:11 EDT Seadrill announces global settlement in Chapter 11 cases - On February 26, Seadrill Limited succeeded in reaching a global settlement with an ad hoc group of bondholders, the official committee of unsecured creditors, and other major creditors in its chapter 11 cases. As a result of the settlement, approximately 70% of the company's bondholders by principal amount have now signed an agreement to support the company's restructuring. Approximately 99% of the company's bank lenders by principal amount had previously signed and remain party to the agreement. The settlement adds additional bondholders as commitment parties to the company's approximately $1B new capital raise and also significantly increases proposed distributions to general unsecured creditors under the plan. The settlement also includes an agreement regarding the amount and treatment of the claims of Samsung Heavy Industries Co., Ltd. and Daewoo Shipbuilding & Marine Engineering Co., Ltd., two shipyards that are party to newbuild contracts with the company.

07:10 EDT Summit Therapeutics announces decrease in muscle inflammation in Phase 2 trial - Summit Therapeutics announced further positive findings from PhaseOut DMD, a Phase 2 open-label, multi-centre clinical trial of the utrophin modulator ezutromid in Duchenne muscular dystrophy, or DMD. Further analysis of the 24-week interim dataset showed a statistically significant decrease in muscle inflammation as measured by magnetic resonance spectroscopy transverse relaxation time T2. The reduction in MRS-T2 measured in PhaseOut DMD is consistent with the expected activity of ezutromid to stabilise muscle fibre membranes and thereby reduce muscle fibre damage and inflammation. A statistically significant and meaningful reduction in muscle fibre damage was observed in previously reported 24-week findings from patient biopsies in PhaseOut DMD. Published research has shown reductions in MRS-T2 in DMD patients treated with steroids. All patients in PhaseOut DMD have been on stable steroid regimens and therefore the MRS-T2 reductions observed are in addition to any anti-inflammatory effect provided by steroids.The new MRS data showed a statistically significant decrease from baseline in the T2-relaxation time in the soleus in patients treated with ezutromid.

07:08 EDT Buffett's Berkshire does not own any gun manufacturers - Warren Buffett, while speaking on CNBC, said Berkshire Hathaway (BRK.A) does not own any gun manufacturers. He added that he has not given a directive to not own such stocks, however. Publicly traded gunmakers include American Outdoor Brands Corp (AOBC), formerly known as Smith & Wesson, and Sturm Ruger & Company (RGR).

07:05 EDT DHX Media names Doug Lamb as CFO - DHX Media announces Doug Lamb has been appointed CFO. Lamb succeeds former CFO, Keith Abriel, who will be leaving the company after a short transition.

07:05 EDT DHX Media CEO Dana Landry to step down, Michael Donovan to succeed - DHX Media announced Dana Landry is stepping down as CEO and from the board of directors to pursue other projects. Executive Chair, Michael Donovan, has been appointed CEO.

07:03 EDT Meredith to sell Time Inc. UK to Epiris - Meredith (MDP) announced that it has entered into a binding agreement with Epiris Fund II, advised by Epiris LLP, to sell Time Inc. UK. Formerly owned by Time Inc. (TIME), Time Inc. UK was acquired by Meredith on January 31, 2018, as part of its acquisition of Time Inc., which had been in the process of selling Time Inc. UK. The transaction is expected to close by the end of the first quarter of calendar 2018. Meredith is being advised by Barou Advisers and Herbert Smith Freehills LLP.

07:00 EDT Molina Healthcare announces resignation of John Molina from board - Molina Healthcare announced that John C. Molina has stepped down from the Molina Healthcare Board of Directors. John Molina is the son of Dr. C. David Molina, the late founder of Molina Healthcare. John served as a member of the Board of Directors since 1994.

06:58 EDT Buffett says Apple Berkshire's most bought stock over last year - Warren Buffett, while speaking on CNBC, said Apple (AAPL) is Berkshire Hathaway's (BRK.A) most purchased stock over the last year. The billionaire was responding to being asked what his favorite stock was. He answered Berkshire, but noted Apple is the company's greatest purchase over the past year.

06:55 EDT BWX Technologies announces $492M in contract awards - BWX Technologies announced that the U.S. Naval Nuclear Propulsion Program has exercised contract options with subsidiary BWXT Nuclear Operations Group, Inc. totaling approximately $492M for the manufacture of naval nuclear reactor components. A variety of manufacturing and material procurement activities will be performed under these contracts that will primarily support Virginia-class submarine construction. BWXT's facilities in Lynchburg, Va.; Barberton and Euclid, Ohio; and Mount Vernon, Ind. will execute this work over the next several years.

06:52 EDT Dean Foods targets incremental $150M in annual run-rate savings by 2020 - "At Dean Foods, executing our strategic initiatives is paramount to our success in this dynamic and competitive environment. We are making important choices in 2018 and taking aggressive but necessary steps to drive our strategic plan, reset our company to make Dean Foods more competitive, and enable us to deliver solid and consistent earnings and cash flow over the long term. We must dramatically reduce our cost structure to match our smart volume today, creating the right network and cost base with an eye toward the future. Our enterprise-wide cost productivity plan will create a runway for increased and ongoing productivity benefits in 2019 and beyond as we target an incremental $150 million in annual run-rate savings by 2020. We have the right strategic plan and a strong team in place to drive our business and company forward."

06:49 EDT Data Show Lilly's Trulicity improves blood sugar control in Type 2 diabetes - Trulicity significantly improves A1C when added to ongoing treatment with a sodium-glucose co-transporter-2 inhibitor, according to results from AWARD-10, a new Phase 3b clinical study.1 These data were published online first in The Lancet Diabetes & Endocrinology. Trulicity is Eli Lilly and company's once-weekly, injectable glucagon-like peptide-1 receptor agonist approved to improve blood sugar in adults with type 2 diabetes. At the study's primary endpoint of 24 weeks, both Trulicity 1.5 mg and 0.75 mg added to ongoing treatment with an SGLT-2 inhibitor demonstrated statistically superior glycemic control compared to an SGLT-2 inhibitor with placebo. Further, significantly more people in the Trulicity groups reached target A1C levels of less than 7% and less than or equal to 6.5%.

06:45 EDT Gold Standard Ventures announces $25.8M exploration program in Nevada - Gold Standard Ventures announced plans for the 2018 development and exploration program on its 100%-owned/controlled Railroad-Pinion Project in Nevada's Carlin Trend. The $25.8M program includes an estimated 74,800 m of reverse-circulation and core drilling in 381 holes. Infill and development work at Dark Star and Pinion is expected to account for approximately 40,800m of drilling in 296 holes while exploration should add another 34,000m of drilling in 85 holes. The 2018 program objectives are: (1) infill and development drilling at the Dark Star and Pinion oxide gold deposits to reduce drill spacing to approximately 30m and convert resources to the Measured and Indicated categories; (2) exploration drilling at Jasperoid Wash to reduce drill spacings and provide requisite data for a maiden resource estimate by the end of 2018; and (3) drilling to test new high-value targets at Dixie, the Dark Star Corridor, Ski Track and elsewhere within the Railroad District. Funding for this program was obtained in a private placement and public offering financing dated February 22, 2018 and funding from a previous financing dated October 28, 2016.

06:41 EDT Buffett says GE has not approached him about possible investments - Warren Buffett is speaking on CNBC.

06:39 EDT Buffett says 'staggered' by reserve charge at General Electric - Warren Buffett is speaking on CNBC.

06:38 EDT Buffett says accounting at GE 'has not been a model' - Warren Buffett is speaking on CNBC.

06:36 EDT Warren Buffett says he keeps looking at General Electric - "I keep looking at GE," Warren Buffett says on CNBC.

06:34 EDT General Electric names three new board candidates - General Electric announced the company's slate of director candidates for the 2018 annual meeting of shareowners. The new board will consist of 12 directors, including three new candidates, consistent with the Company's previously announced plan to reduce the size of its board. The three new candidates for the board are H. Lawrence Culp, Jr., former Chief Executive Officer and President of Danaher Corporation, Thomas W. Horton, former Chairman and Chief Executive Officer of American Airlines, Leslie F. Seidman, former Chairman of the Financial Accounting Standards Board.

06:18 EDT Buffett says Berkshire a net buyer of stocks thus far in 2018 - Warren Buffett is speaking on CNBC.

06:17 EDT R1 RCM announces expanded 10-year agreement with Ascension - R1 RCM announced plans for an expanded 10-year agreement with longstanding client Ascension to be the primary revenue cycle management partner for Ascension Medical Group across all its physician practice care sites in 22 states and the District of Columbia. R1 and Ascension have signed a term sheet with the expectation of reaching a definitive agreement and beginning service in the second quarter of 2018

06:15 EDT West Pharmaceutical names Silji Abraham Chief Digital and Transformation Officer - West Pharmaceutical announced Silji Abraham has been appointed Senior Vice President and Chief Digital and Transformation Officer, and will be responsible for driving a digital transformation at West to improve business performance across the enterprise. Effective February 26, Abraham will serve on the senior leadership team, and oversee the company's Information Technology and Enterprise Business Systems organizations.

06:12 EDT Encana: TSX accepts NCIB for $400M share repurchase program - Encana announced that the Toronto Stock Exchange has accepted its notice of intention to commence a normal course issuer bid through which Encana may spend up to $400M to purchase up to 35M common shares during the 12-month period commencing February 28, 2018 and ending February 27, 2019. The number of shares authorized for purchase represents approximately 3.6% of Encana's 973,123,364 common shares issued and outstanding as of February 20, 2018.

06:10 EDT Emerge Energy sees FY18 adjusted EBITDA $120M - "The frac sand market remains strong as we begin 2018, and we expect another year of substantial improvement in profitability during 2018 for our business. Demand continues to increase, customer sentiment is very positive, and sand prices are moving higher despite the headline noise around in-basin sand supply. We are updating our 2018 guidance to $120 million in Adjusted EBITDA and $60 million in net income. We believe that we can outperform this number if the previously noted railroad service improves quickly. We also believe there is upside to our guidance if we receive our larger air permit for the new San Antonio plant in an expedited manner. "

06:07 EDT Achillion: ACH-4471 receives positive opinion for orphan drug designation in EU - Achillion Pharmaceuticals announced that the European Medicines Agency Committee for Orphan Medicinal Products issued a positive opinion on ACH-4471 for orphan status in the European Union for the treatment of C3 glomerulopathy.

06:05 EDT Qualcomm delivers first Modem-to-Antenna solution in Xperia XZ2 smartphone - Qualcomm Technologies, Inc., a subsidiary of Qualcomm (QCOM), announced that the entire Qualcomm RF Front End modem-to-antenna solution along with the Qualcomm(R) Snapdragon 845 Mobile Platform with X20 Gigabit LTE, and 4K HDR video capture are featured in Sony (SNE) Mobile's new Xperia XZ2 smartphone. Qualcomm Technologies is the first company in the semiconductor industry to deliver a comprehensive solution from modem to antenna ports for use in a leading premium smartphone. Utilizing Qualcomm Technologies' comprehensive solution - including for the first time, the entire Qualcomm RFFE suite - allows Sony Mobile to benefit from system level optimization which facilitates the delivery of global platforms with superior connectivity performance and power efficiency.

05:54 EDT Boise Cascade sees 'modest demand growth' in 2018 - "As in recent years, we expect to continue to experience modest demand growth for the products we manufacture and distribute in 2018. Total housing starts in the U.S. continue to show modest improvement, with single- family starts growth offsetting weakness in multi-family starts in 2017. The February 2018 Blue Chip consensus forecast for 2018 reflects 1.28 million total U.S. housing starts, a 7% expected increase from 2017 levels. We remain optimistic that the improvement in demand for our products will continue as household formation rates and residential construction continue to recover. We will continue to manage our production levels to our sales demand, which will likely result in operating some of our facilities below their capacity until demand further improves. Future commodity product pricing and commodity input costs could be volatile in response to industry operating rates, net import and export activity, the North American softwood lumber trade dispute, inventory levels in various distribution channels, and seasonal demand patterns. We have successfully grown revenues and earnings in our distribution business as residential construction has recovered in the U.S. over the last several years. As we consider potential acquisitions, much of our activity is focused on adding to our distribution capabilities. "

05:51 EDT Welbilt to acquire Crem International for about $224M - Welbilt, announced that it has entered into a definitive agreement to acquire 100% of the shares of Avaj International Holding AB, which is majority owned by private equity firms Priveq Investment Fund IV L.P. and SEB Venture Capital, for total consideration of approximately $224M. The acquisition will be funded through cash on hand and existing credit lines and is expected to close in the second quarter of 2018, subject to certain closing conditions. In 2017, Crem International generated sales of approximately $90M. The acquisition is expected to be accretive to earnings beginning later in 2018 and beyond, with run-rate synergies expected to grow to approximately $10M by 2020.

05:35 EDT Pretium Resources says ramp-up continues to advance at Brucejack Mine - Pretium Resources is pleased to report that the ramp-up continues to advance at the high-grade gold Brucejack Mine, and the mine remains on track to reach steady state production mid-to-late 2018. Additionally, an exploration drill program has been initiated underground to test for a porphyry source and evaluate the potential extension of the Valley of the Kings deposit to the east.

05:33 EDT CUI Global unit receives order for 400 Block units, ICE Switches valued at $2.9M - CUI Global announced that its wholly-owned subsidiary, CUI Inc., received an initial purchase order for 400 of its ICE Block units and additional ICE Switches valued at approximately $2.9M for delivery in the fourth quarter of 2018. The order of CUI's Intelligent Control of Energy power system hardware, was secured before ICE Block's receipt of UL and TundefinedV safety certification.

05:30 EDT Archer Daniels, Cargill to launch soybean joint venture in Egypt - Archer Daniels Midland and Cargill have reached agreement to launch a joint venture to provide soybean meal and oil for customers in Egypt. The joint venture would own and operate the National Vegetable Oil Company soy crush facility in Borg Al-Arab along with related commercial and functional activities, including a separate Switzerland-based merchandising operation that would supply soybeans to the crush plant. Cargill is currently expanding the plant from 3,000 metric tons to 6,000 metric tons of daily crush capacity. The plant will be able to produce higher-protein soybean meal while reducing the need for soybean meal imports into Egypt. The joint venture will be managed as a standalone entity consisting of equal ownership by ADM and Cargill, with a management team reporting to a board of directors appointed by the two parent companies. The joint venture's assets will not include Cargill's grain business and port terminal in Dekheila, or the ADM-Medsofts joint venture at the Port of Alexandria. Each company will continue its separate business activities in the country and region. The deal, which is not yet complete, is subject to regulatory review. The companies hope to formally launch the joint venture in mid-2018.