Stockwinners Market Radar for April 27, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:57 EDT Amneal Pharmaceuticals, Impax receive FTC clearance for combination - Amneal Pharmaceuticals and Impax Laboratories (IPXL) announced that the U.S. Federal Trade Commission has cleared the Amneal and Impax business combination, subject to Amneal and Impax's agreement to divest certain products. The parties have now obtained all regulatory approvals required to close the transaction. Accordingly, the parties expect to consummate the business combination following the close of trading on May 4, 2018. Shares of Impax are expected to cease trading on the NASDAQ stock exchange following the closing of the business combination on May 4, 2018, and the new combined company, Amneal Pharmaceuticals, will begin trading on the New York Stock Exchange under the ticker "AMRX" on May 7, 2018. The Company will hold an investor call prior to the start of the trading of Amneal's Class A common stock on the New York Stock Exchange on May 7, 2018. Pursuant to the business combination agreement, each share of Impax common stock will be converted into the right to receive one share of Amneal Class A common stock. Under the terms of the consent order with the FTC, Amneal and Impax have agreed to divest a number of marketed and pipeline products to ANI Pharmaceuticals (ANIP), G&W Laboratories, and Perrigo Company (PRGO). Subject to the consummation of the transaction between Amneal and Impax, ANI will acquire the following Impax products: Felbamate Tablets, Ezetimibe; Simvastatin Tablets, Desipramine Tablets, Approved but not commercialized Aspirin; Dipyridamole ER Capsules, Approved but not commercialized Methylphenidate ER Tablets, Pending application for Diclofenac; Misoprostol DR Tablets, Development product Erythromycin Tablets. Subject to the consummation of the transaction between Amneal and Impax, Impax's interests in the following product will be sold to G&W, who owns the relevant marketing authorization: Fluocinonide Topical Cream (emulsified base) 0.05%. Subject to the consummation of the transaction between Amneal and Impax, Impax's interests in the following products will be sold to Perrigo, who owns the relevant marketing authorizations: Azelastine Nasal Spray 0.15%, Olopatadine Nasal Spray.

18:31 EDT Yingli Green Energy announces update regarding polysilicon supply contracts - Yingli Green announced that one of its long-term polysilicon suppliers filed a request for arbitration of its claim against the Company described below with the London Court of International Arbitration yesterday. As previously reported, the Company has not fully performed some of its long-term polysilicon supply contracts on their original terms, and suppliers have sent the Company invoices or demand letters for failing to perform certain obligations under these contracts. On December 15, 2017, one of the Company's subsidiaries received a notice of termination from the Supplier notifying the Company of its decision to terminate its long-term polysilicon supply contract with the Company with immediate effect and claiming no less than $897.5M of payments due and payable by the Company under the contract. After receiving the notice of termination, the Company has been actively communicating with the Supplier to find an amicable solution but no mutual agreement has been reached yet. The Company plans to vigorously defend its rights in the arbitration proceeding while continuing to seek a mutually beneficial solution with the Supplier.

17:52 EDT Whale Rock Capital reports 16.25% passive stake in MongoDB

17:41 EDT Intracoastal Capital reports 5.9% passive stake in Atossa Genetics

17:30 EDT Context BH Capital reports 5% passive stake in United Community Bancorp

17:20 EDT Pan American Silver announces operations at Huaron mine have been suspended - Pan American Silver reports operations at its Huaron mine have been suspended as a result of road blockades instituted by members of the nearby Huayllay community. The community members have demanded compensation from the company for alleged impacts to community land, as well as additional service contracts for construction work, haulage and material supply to the mine. Pan American Silver is actively involved in discussions with the community members and is engaged in a mediation process being led by the Social Affairs General Office of the Peruvian Ministry of Energy and Mines. The company will provide notice once operations at the Huaron mine have resumed.

17:10 EDT Harris awarded $130M U.S. Air Force contract - Harris Corp has been awarded a $130,000,000 indefinitely-delivery/indefinite-quantity for handheld video data link radios. This contract provides for the development, production, and sustainment of HH-VDL devices. Work will be performed in Rochester, New York, and is expected to be complete by April 2023.

17:09 EDT Vectrus awarded $106M U.S. Army contract modification - Vectrus Systems was awarded a $105,967,887 modification to contract W91RUS-13-C-0006 for enterprise network capabilities and services support of U.S. Central Command. Work will be performed in Kuwait City, Kuwait; Camp As Sayliyah, Qatar; Bagram Airfield, Afghanistan; Forward Operating Base Union III, Iraq; Camp Red Leg, United Arab Emirates; and Jordan, Jordan, with an estimated completion date of Nov. 30, 2018.

17:07 EDT Lockheed Martin awarded $828.7M U.S. Army contract - Lockheed Martin was awarded an $828,724,214 hybrid foreign military sales contract for Guided Multiple Launch Rocket Systems. One bid was solicited with one bid received. Work will be performed in Grand Prairie, Texas, with an estimated completion date of May 31, 2020.

16:49 EDT CapGen Capital lowers stake in Union Bankshares to 4.8% from 6.0%

16:35 EDT Univar announces distribution agreement with Boss Lubricants - Univar along with Boss Lubricants announced an energy and mining markets distribution agreement today for Western Canada. Boss Lubricants is one of Canada's largest independent lubricant manufacturers and wholesale suppliers of lubricants, glycols and greases. While the agreement will expand Univar's footprint into the Western Canada lubricants market, Univar has a global distribution network that serves its customers locally. This agreement offers customers Univar's technical expertise, expansive distribution capabilities and a comprehensive product portfolio.

16:31 EDT Opko Health to remain on Tel Aviv Stock Exchange - OPKO Health announced it intends to remain on the Tel Aviv Stock Exchange and withdraw its request to voluntarily delist its common stock from the TASE. The initial delisting request was made public by the company in a Form 8-K filing with the U.S. Securities and Exchange Commission on April 9, 2018 and the delisting was to take effect on July 10, 2018. OPKO's shares will continue to be listed uninterrupted on both The NASDAQ Global Market and the TASE, and the company will continue with normal course of business activities to support trading on both exchanges.

16:23 EDT Sprint down 11.2% after Bloomberg says T-Mobile values company at $24B

16:16 EDT Pacific Coast Oil announces there will be no May cash distribution - Pacific Coast Oil Trust, a royalty trust formed by Pacific Coast Energy Company, announced there will be no cash distribution to the holders of its units of beneficial interest in May 2018. The Trust's distribution calculation relates to net profits and overriding royalties generated during March 2018 as provided in the conveyance of net profits and overriding royalty interest.

16:08 EDT Avista receives Washington UTC decision to raise rates by $10.8M - Avista's electric and natural gas general rate cases have concluded, with an order issued by the Washington Utilities and Transportation Commission. The Commission approved one-time electric and natural gas rate adjustments which will take effect May 1, 2018. The Commission's order approved electric rates designed to increase annual billed revenues by $10.8M, or 2.1% and natural gas rates designed to decrease annual billed revenues by $2.1M, or 1.6%. These revenues include the return to customers through base rates of approximately $26.9M for electric service, and $5.5M for natural gas service, as a result of the federal Tax Cuts and Jobs Act, which went into effect on Jan. 1, 2018.

15:52 EDT Teva presents long-term data from GALA study of Copaxone - Teva Pharmaceutical Industries announced up to 7-year efficacy, safety and tolerability results from the Glatiramer Acetate Low-Frequency Administration, or GALA, open-label extension study of Copaxone 40 mg/mL administered subcutaneously three-times-a-week for the treatment of relapsing forms of multiple sclerosis. The study, including the open-label phase of the largest pivotal trial ever conducted for Copaxone, examined the long-term effects up to seven years of early start and delayed start treatment of Copaxone 40 mg/mL. Results show that favorable annualized relapse and disability progression rates are observed in both patients continuing Copaxone 40 mg/mL and patients switching from placebo to Copaxone 40 mg/mL. Additionally, no new or unexpected adverse events emerged in patients receiving the treatment.

15:39 EDT Compass Minerals announces labor strike at Goderich salt mine - Compass Minerals announced a strike has been initiated by the union representing 341 hourly employees at its salt mine in Goderich, Ontario. The company has implemented contingency operating procedures and expects to operate the mine at or near its planned operating rates for 2018. Currently, the company expects a minimal impact on salt production costs resulting from the strike.

15:35 EDT Barington Hilco Acquisition trading resumes

15:20 EDT Clough Capital Partners lowers passive stake in Carvana to 3.6% from 6.7%

15:08 EDT Barington/Hilco Acquisition receives Nasdaq notice of non-compliance - Barington/Hilco Acquisition Corp. announced that on April 18, it received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market indicating that it was no longer in compliance with the Nasdaq Listing Rules because it had not timely filed its Form 10-K for the period ended December 31, 2017. Nasdaq further advised that under its rules, the company has sixty calendar days to submit a plan to regain compliance which, if accepted by Nasdaq, could permit BHAC up to 180 calendar days from the filing due date to regain compliance. The Nasdaq notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of BHAC's securities on the NASDAQ Capital Market. BHAC intends to file its Annual Report on Form 10-K for the period ended December 31, 2017 within the next 30 days or sooner.

15:02 EDT MasterCard nominates 14 board candidates, proposes to add Richard Davis - Mastercard (MA) announced that its board of directors has nominated 14 candidates for election as directors at the company's June 26 annual meeting of stockholders. Richard Davis, formerly of U.S. Bancorp (USB), has been added to the slate along with the company's existing directors. Until earlier this month, Davis was the executive chairman of U.S. Bancorp.

14:47 EDT International Bancshares extends stock repurchase program - International Bancshares announced that on March 15 IBC's board of directors approved the extension of its stock repurchase program. Since April 9, 2009, in March or April of each year, the board has authorized the repurchase of up to $40M of common stock within the next twelve months beginning on April 9 of that year. On March 15, 2018, the Board again authorized the repurchase of up to $40M of its common stock during the twelve month period commencing on April 9, 2018.

14:25 EDT Jensyn Acquisition trading halted, news pending

13:52 EDT Linde announces CFIUS Clearance for proposed combination with Praxair - Linde (LNEGY) announced that the proposed business combination between Praxair (PX) and Linde received clearance from the Committee on Foreign Investment in the United States, or CFIUS, on April 26, satisfying a closing condition. Linde plc is a public limited company formed on April 18 that will become the parent company of Praxair, Inc. and Linde AG upon the completion of the business combination. Completion of the business combination remains subject to approval by requisite governmental regulators and authorities under applicable competition laws. The business combination is expected to be completed in the second half of 2018.

13:26 EDT Duke Energy Progress proposes hike in monthly fuel costs for SC customers - Duke Energy Progress is proposing an increase in monthly fuel costs for its South Carolina customers beginning this summer as part of an annual adjustment of the actual cost of fuel used to generate electricity at its power plants. Duke Energy Progress makes a fuel cost recovery filing annually with the Public Service Commission of South Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. By law, the company makes no profit from the fuel component of rates. The company made its annual fuel filing Friday. If approved by the PSCSC, the new fuel rates would go into effect July 1. Under the proposal, typical residential customers using 1,000 kilowatt-hours per month would see their bills increase from the current $121.47 to $124.71, an increase of $3.24, or 2.7%.

13:09 EDT KLX Inc. trading resumes

13:03 EDT Baker Hughes reports U.S. rig count up 8 to 1,021 rigs - Baker Hughes reports that the U.S. rig count is up 8 rigs from last week to 1,021, with oil rigs up 5 to 825, gas rigs up 3 to 195, and miscellaneous rigs unchanged at 1. The U.S. Rig Count is up 151 rigs from last year's count of 870, with oil rigs up 128, gas rigs up 24, and miscellaneous rigs down 1 to 1. The U.S. Offshore Rig Count is unchanged at 18 and up 1 rig from last year's count of 17. The Canada Rig Count is down 8 rigs from last week to 85, with oil rigs down 5 to 33 and gas rigs down 3 to 52. The Canada Rig Count is unchanged from last year's count of 85, with oil rigs up 9 and gas rigs down 9.

12:59 EDT Ethiopian Airlines signs purchase agreement for 10 Bombardier aircraft - Bombardier Commercial Aircraft announced that it has concluded a firm order for 10 new Q400 aircraft with Ethiopian Airlines. The order also includes purchase rights for five additional Q400 aircraft. Based on the list price of the Q400 aircraft, the firm order is valued at approximately $332M.

12:34 EDT Akorn rallies after RBC says Fresenius buyout may still close - Shares of Akorn (AKRX) are moving higher after the Delaware Chancery Court unsealed the company's lawsuit against Fresenius SE (FSNUY). Fresenius last year agreed to acquire Akorn for $34 per share but terminated the deal on April 22, citing the generic drugmaker's "failure to fulfill several closing conditions." Fresenius said its independent investigation found "material breaches of FDA data integrity requirements relating to Akorn's operations." In the unsealed court documents, Akorn lawyers accused Fresenius of "buyer's remorse'' over the price, according to Bloomberg. After reviewing the court documents, RBC Capital analyst Randall Stanicky said in a research note today that he still sees a path for the deal to close. Akorn shares in midday trading are up 6%, or 80c, to $5.85.

12:30 EDT Liberty Expedia Holdings (Series B) trading resumes

12:25 EDT Liberty Expedia Holdings (Series B) trading halted, volatility trading pause

11:49 EDT Yandex, Sberbank complete deal to form joint venture - Sberbank and Yandex announced that they have completed the formation of a joint venture based on the Yandex.Market platform. The companies intend to combine the technological capabilities of Yandex and the infrastructure and technologies of Sberbank to develop a leading B2C eCommerce ecosystem. At closing, the company is valued at approximately $1.0B. The two partners will own equal stakes in the company. Sberbank invested approximately $500M in the new joint venture. Ten percent of the company's shares will be reserved for future equity awards for management and employees of Yandex.Market, the companies said.

11:29 EDT SIGA Technologies slips after FDA posts briefing document ahead of meeting - The Antimicrobial Drugs Advisory Committee of the FDA is scheduled to meet on May 1 to discuss new drug application 208627 for tecovirimat, sponsored by SIGA Technologies for the proposed indication of the treatment of smallpox disease caused by variola virus in adults and pediatric patients. The Advisory Committee will be charged with rendering an opinion as to whether the risk-benefit profile of tecovirimat for the treatment of human smallpox is acceptable based on the available data. Following the posting of the briefing documents for the meeting to the FDA's website, SIGA shares are down fractionally in late morning trading. Reference Link

11:19 EDT Chevron says goal is to 'maximize value of every Permian molecule' - Says goal is to "maximize value of every Permian molecule." Say believes oil demand will continue to grow for "the foreseeable future." Says believes in a "longer, flatter supply curve." Says "well-positioned to win" in any environment. Says LNG market should rebalance with a supply gap expected to open within the next decade.

11:16 EDT AquaBounty gets FDA approval for AquAdvantage Salmon facility - AquaBounty Technologies (AQB), a majority-owned subsidiary of Intrexon Corporation (XON), announced that it has received approval from the U.S. Food and Drug Administration to raise AquAdvantage Salmon at its land-based contained facility near Albany, Indiana. The FDA previously approved AquaBounty's New Animal Drug Application on November 19, 2015, for the production, sale, and consumption of AquAdvantage Salmon in the United States. That approval specified that all production facilities for the product would require separate site-specific approvals. To conform with this requirement, the Company submitted a supplementary NADA to the FDA requesting approval to grow AquAdvantage Salmon at its farm site near Albany, Indiana. The Indiana facility as currently configured has a production capacity of 1200 tons per year and was designed to allow significant expansion. With the facility now approved, commercial production of AquAdvantage Salmon awaits only official labeling guidelines by the FDA.

11:05 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly: 1. NASDAQ EYES CRYPTO: Nasdaq (NDAQ) chief executive officer Adena Friedman has said the company is open to becoming a platform for trading cryptocurrencies like bitcoin, however regulation needs to be worked out before the company would add an exchange, CNBC reported Wednesday. "Certainly Nasdaq would consider becoming a crypto exchange over time. If we do look at it and say 'it's time, people are ready for a more regulated market,' for something that provides a fair experience for investors," she said, adding, "I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature. Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly Nasdaq would consider it." Additionally on Wednesday, the company announced that Gemini, the cryptoexchange started by the Winklevoss twins, will use its surveillance software to monitor its marketplace. 2. IRAN BANK BANS CRYPTO: Iran's central bank has banned the country's banks from cryptocurrency trades due to money laundering concerns amid a currency crisis, Reuters reported Sunday. "Banks and credit institutions and currency exchanges should avoid any sale or purchase of these currencies or taking any action to promote them," a central bank circular said. 3. GOLDMAN HIRES DIGITAL ASSET HEAD: Goldman Sachs (GS) has hired Justin Schmidt, a former senior vice president at quantitative trading firm Seven Eight Capital, to be the first head of digital asset markets in Goldman's securities division, CNBC reported Monday. 4. TAIWANESE GRAPHIC CARD SHIPMENTS TO DECLINE: Taiwan-based graphics card makers are expected to see their shipments plunge over 40% month on month in April as channel distributors and larger mining farm operators have cut orders due to the crypto mining craze waning abruptly, Digitimes reported Wednesday. Mining farm operators expect mining rewards to pick up gradually in the third quarter as bitcoin and ethereum prices may rebound. Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. 5. CRYPTO CHATTER: On Monday, John Pfeffer, a partner at Pfeffer Capital, presented bitcoin as his idea at the Sohn investment conference. Pfeffer said bitcoin is better than gold "on every front" and could eventually be worth $700,000. "Bitcoin is the first viable candidate to replace gold the world has ever seen," he said. Meanwhile, venture capitalist Tim Draper, who was an early investor in Tesla (TSLA), Hotmail and Skype, said bitcoin will be "bigger than all of those combined," CNBC reported Monday. "This is bigger than the internet. It's bigger than the Iron Age, the Renaissance. It's bigger than the Industrial Revolution. This affects the entire world and it's going to be affected in a faster and more prevalent way than you ever imagined," Draper said, adding that he expects bitcoin to hit $250,000 within four years. Additionally on Thursday, Dan Morehead, CEO of cryptocurrency hedge fund Pantera Capital Management said bitcoin "is a screaming buy right now" in a Bloomberg interview. Conversely, in a Tuesday Recode post, Bill Harris, former CEO of Intuit (INTU) and founding CEO of PayPal (PYPL), called bitcoin "a scam." Harris said, "In my opinion, it's a colossal pump-and-dump scheme, the likes of which the world has never seen...And some cryptocurrencies are pure frauds. Ernst & Young estimates that 10% of the money raised for initial coin offerings has been stolen. The losers are ill-informed buyers caught up in the spiral of greed. The result is a massive transfer of wealth from ordinary families to internet promoters. And 'massive' is a massive understatement - 1,500 different cryptocurrencies now register over $300B of 'value.' It helps to understand that a bitcoin has no value at all." CRYPTO STOCK PLAYS: Overstock (OSTK), DPW Holdings (DPW), Long Blockchain (LBCC), Kodak (KODK), Seven Stars Cloud Group (SSC), Riot Blockchain (RIOT), Longfin (LFIN), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme PRICE ACTION: As of time of writing, bitcoin rose roughly 9.2% this week to $9,260 in U.S. dollars according to CoinDesk. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

10:47 EDT Eldorado Resorts, Cordish Companies announce JV to develop mixed-use destination - The Cordish Companies and Eldorado Resorts announced their formalization of a new 50-50 joint venture partnership that will master plan, design and develop a new world-class, mixed-use entertainment and hospitality destination in Pompano, FL. "The development will complement and encompass the site of the existing Isle Casino Racing Pompano Park and bring new upscale retail, dining, and entertainment to South Florida. The 223-acre development will include a corporate office campus, residential, and a hotel."

10:05 EDT Facebook says eliminating platform fee on fundraisers for personal causes - Facebook announced new features and tools for Facebook Fundraisers that are aimed at helping fundraiser creators and donors make even greater impact. Every day, people start Facebook Fundraisers to support the causes that matter to them. These new features include the following: People can pledge to match donations to their nonprofit fundraiser, which is a first of its kind tool in online fundraising that's now available in the US and will soon expand internationally. There are now four new categories for fundraisers for personal causes so people can raise funds for more social good causes across family, faith, travel, and volunteering. In the coming weeks, Facebook is eliminating the platform fee on all fundraisers for personal causes, helping people maximize their support.

10:03 EDT Penn National reports Mississippi, Pennsylvania regulators approve Pinnacle deal - Penn National Gaming (PENN) announced that at regulatory meetings held this week the Mississippi Gaming Commission and the Pennsylvania State Horse Racing Commission approved the company's pending acquisition of Pinnacle Entertainment (PNK), subject to customary conditions. The completion of the proposed transaction is contingent on receipt of additional regulatory approvals as well as certain other conditions. Timothy Wilmott, CEO of Penn National Gaming, said: "We look forward to securing additional regulatory approvals in the near term and based on our progress to date, we remain confident of closing the transaction in the second half of this year."

09:46 EDT Rockwell Collins discloses probe of entertainment expense - Rockwell Collins disclosed the following in a filing: "Related to the acquisition and post-closing compliance review of B/E Aerospace, the company identified and is investigating the circumstances surrounding an employee's submission of certain expense reports for customer entertainment and gifts that preceded the acquisition and do not appear to have complied with applicable company policy. In March 2018, the company voluntarily notified the Department of Justice and Securities and Exchange Commission Division of Enforcement of its investigation. As the company's investigation is at an early stage, the outcome or the consequences thereof cannot be predicted at this time."

09:24 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Amazon (AMZN), up 8%... Intel (INTC), up 6%... Microsoft (MSFT), up 3.5%... LyondellBasell (LYB), up 3%... Expedia (EXPE), up 10%... Exact Sciences (EXAS), up 5%. ALSO HIGHER: Sprint (S), up 7% after Reuters reported that the company and T-Mobile (TMUS) are progressing in negotiating merger terms and are seeking to successfully finalize a deal as soon as next week... Square (SQ), up 3% after announcing a deal to acquire Weebly for about $365M. DOWN AFTER EARNINGS: Starbucks (SBUX), down 1%... Sony (SNE), down 5.5%... Sanofi (SNY), down 3%... Flex (FLEX), down 20%... Charter (CHTR), down 4%.

09:02 EDT Amgen recieves positive CHMP opinion to expand use of Prolia - Amgen announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion for the marketing authorization of Prolia for the treatment of bone loss associated with long-term systemic glucocorticoid therapy in adult patients at increased risk of fracture. The CHMP positive opinion will now be reviewed by the European Commission, which has the authority to approve medicines for the European Union. Norway, Iceland and Liechtenstein, as members of the European Economic Area , will take corresponding decisions based on the decision of the EC. The U.S. FDA is currently reviewing a supplemental Biologics License Application for this expanded indication and has set a Prescription Drug User Fee Act action date of May 28, 2018.

09:01 EDT Verizon's Oath names former Snap exec Jeff Lucas as head of Americas sales - Oath, a subsidiary of Verizon (VZ), announced that Jeff Lucas will join its sales leadership team as Vice President, Head of Americas Sales. In this newly created role, Jeff will manage Oath's national and mid-market sales teams in the US, Canada and Latin America. He will be based in Oath's New York office and report directly to John DeVine, Chief Revenue Officer. Jeff joins Oath from Snap Inc. (SNAP) where he was the Global Head of Sales.

08:54 EDT The China Fund shareholders City of London comments on meeting postponement - The China Fund shareholder City of London Investment Management, which represents clients who are the beneficial owners of approximately 27.6% of the outstanding shares of common stock of The China Fund, commented on what it alleges are China Fund Board's "(...) continued waste of stockholder assets and actions to prevent stockholders from exercising their fundamental right to vote (...)". City of London states, among other things: "(...) The Board postponed China Fund's 2018 annual meeting of stockholders twice, just days before the scheduled meeting dates, and has publicly stated they may postpone the meeting again. (...) We believe the Board is not acting in stockholders' best interests, but to preserve Joe Rogers' position as Chairman of the Board. Under Joe Rogers' leadership, China Fund has a lagging record of disappointing performance and bad Board decisions. (...) It is imperative that the Board permit the votes to occur on May 23, 2018. If the City of London nominees are elected, Joe Rogers and Richard Shore should be replaced on the Board in accordance with the stockholder vote. (...) To assure the votes are counted, after the March postponement we filed a Verified Complaint in the Circuit Court of Baltimore County, Maryland, bringing claims against China Fund and the members of the Board, with the goal of requiring the annual meeting to be held April 26, 2018. (...) China Fund has notified the Maryland Court that under a specified condition (which was satisfied on April 26, 2018) China Fund will hold the vote for the election of directors on May 23, 2018. While this long overdue election would be welcome, we continue to be concerned that (i) China Fund Board will find another pretext for delay, (ii) if the City of London nominees are elected the Board will take some action to prevent the replacement of Joe Rogers and Richard Shore on the Board, and (iii) the Board will continue to prevent the counting of the stockholder vote on the termination of the investment manager. (...) We have proposed two new Directors (...) We have proposed to terminate the investment management contract because the manager, Allianz, has performed poorly over the long-term. (...) We believe these continued actions by the Board to block the stockholders' right to vote are undermining the quality and competitive position of China Fund (...) We continue to seek your support on the previously distributed Blue proxy card (i) to elect two independent director nominees who will work to maximize the value of each stockholder's investment, and (ii) to terminate the investment advisory and management agreements with China Fund's current investment advisor. (...)"

08:47 EDT CEO Michael Wirth says Chevron benefited from growing production, higher prices - "First quarter earnings and cash flow improved significantly from a year ago," said chairman and CEO Michael Wirth. "We benefitted from growing production and higher prices.Our cash flow continues to increase with the powerful combination of expanding upstream margins and volumes. Oil and gas production is increasing, most notably in our Gorgon and Wheatstone LNG Projects in Australia, and our shale developments in the Permian Basin where production grew 65 percent from a year ago. In addition, we continue our asset sale program," Wirth continued. The company sold its interest in the Elk Hills Field in California in early April and expects to complete the sale of its southern Africa refining, marketing and lubricant assets later in the year."

08:43 EDT Chevron reports Q1 net oil-equivalent 2.85M barrels per day vs 2.68M last year - Worldwide net oil-equivalent production was 2.85M barrels per day in Q1, compared with 2.68M barrels per day from a year ago. U.S. upstream operations earned $648M in Q1, compared with $80M from a year earlier. The improvement primarily reflected higher realizations and production, partially offset by higher exploration expenses. Net oil-equivalent production of 733,000 barrels per day in Q1 was up 61,000 barrels per day from a year earlier. International upstream operations earned $2.70B in Q1, compared with $1.44B a year ago. Net oil-equivalent production of 2.12M barrels per day in Q1 was up 115,000 barrels per day from a year earlier. U.S. downstream operations earned $ 442M in Q1, compared with earnings of $469M a year earlier. Refinery crude oil input in first quarter 2018 increased 2% to 930,000 barrels per day from the year-ago period. International downstream operations earned $286M in Q1, compared with $457M a year earlier. Refinery crude oil input of 712,000 barrels per day in Q1 decreased 41,000 barrels per day from the year-ago period mainly due to sale of the company's Canadian refining asset.

08:38 EDT Fluor JV selected for LNG Canada project - Fluor announced that its joint venture partnership with JGC was selected as the engineering, procurement and construction contractor for LNG Canada's proposed liquefied natural gas export facility in Kitimat, British Columbia, Canada. The award is conditional on a positive final investment decision later this year at which point Fluor will book its share of the contract value. "We thank LNG Canada for the opportunity to participate in developing the first world-class LNG facility in British Columbia," said Jim Brittain, group president of Fluor's Energy & Chemicals business. "Our team has developed an innovative design and execution strategy that improves the project's competitiveness and predictability and positions it for a final investment decision. We look forward to building on the strong relationships that LNG Canada has established with the local community. Our team is committed to developing this facility safely, sustainably and with lasting benefits for the local community and British Columbia."

08:35 EDT UQM, Ballard partner to provide contract assembly for fuel cell bus modules - UQM Technologies (UQM) has announced that Ballard Power Systems (BLDP) has issued a purchase order to UQM for assembly of FCveloCity -HD 85-kilowatt Ballard fuel cell modules to be deployed in the U.S. UQM, in Longmont, Colorado, has capacity in their TS16949 certified manufacturing facility where it will contract assemble fuel cell modules for Ballard. "UQM has been a long time supplier to Ballard, and we are now utilizing our manufacturing facility to support Ballard in delivering modules for buses in the U.S. We see this as yet another way our companies can work together for mutual benefit. We have implemented world class operational systems in our Colorado facility, and we are pleased to improve our asset utilization and support Ballard in meeting U.S. demand," said Joe Mitchell, CEO and President of UQM Technologies.

08:32 EDT Sinovac Biotech to delay filing of Annual Report on Form 20-F - Sinovac Biotech announced that it will delay the filing of its annual report on Form 20-F for the year 2017. The delay is the result of actions taken by Aihua Pan, the Chairman of the Board of the Company's 73.09% controlled China subsidiary, Sinovac Biotech Co. Pan was appointed Chairman of the Board by Sinobioway Biomedicine Co., the minority shareholder of Sinovac Beijing. As previously announced, on April 17, 2018, Aihua Pan and dozens of unnamed individuals forcibly entered Sinovac Beijing's corporate offices and limited the physical movement of the employees in Sinovac Beijing's general manager's office and finance department. This was in an attempt to take control of Sinovac Beijing's official seal, legal documents, accounting seal, financial documents and financial information systems. One of our buildings where the finance department is located is occupied and employees of Sinovac Beijing are not permitted to enter. The occupation of the finance department of Sinovac Beijing has caused disruption to the Company's 2017 annual audit, which will delay the filing of the Company's 2017 Annual Report. The Company will file the Notification of Late Filing on Form 12b-25 with the SEC to provide the formal notification of the delay. The Company is working diligently with its auditor to file the 2017 Annual Report as soon as practicable.

08:19 EDT Barington Hilco Acquisition trading halted, news pending

08:15 EDT Acadia to present clinical data from two Nuplazid studies at AAN - Acadia announced poster presentations of clinical experience data from two studies of Nuplazid in Parkinson's disease psychosis, or PD Psychosis, at the American Academy of Neurology, or AAN, annual meeting. Researchers at Vanderbilt University Medical Center performed a retrospective chart review of patients treated with Nuplazid. The objective of the study was to review their prescribing patterns and clinical experiences with Nuplazid. In this study, the researchers identified a total of 102 patients who were prescribed Nuplazid between May 2016 and March 2018. Eighty eight of these patients began treatment with Nuplazid and 14 patients never started treatment. About two-thirds of patients had tried and failed prior antipsychotic therapy. Data from the study show 70% of all patients treated with Nuplazid reported clinical improvement, while 88% of patients treated longer than four weeks improved. Researchers from the Parkinson's Disease and Movement Disorders Center at Henry Ford Hospital assessed Nuplazid's clinical use by retrospective chart review and telephone interviews with patients and caregivers. Information on demographics, psychotic features, sleep, and adverse events was collected. This assessment of real-life experience in 16 patients diagnosed with PD Psychosis and taking Nuplazid showed that Nuplazid was well-tolerated and improved symptoms in most patients. Data from this study show 65% reported improvement of hallucinations with Nuplazid.

08:13 EDT Biocept's Target Selector test featured in publication - Biocept announced the publication of a case report demonstrating the clinical utility of its Target Selector ALK gene rearrangement test. The circulating tumor cell)-based assay detected the ALK gene translocation in a patient diagnosed with non-small cell lung cancer who subsequently received sequential ALK inhibitor therapies and exhibited excellent clinical response to treatment. The article was published in the Spring 2018 issue of the journal Oncology & Hematology Review.

08:09 EDT Acorn International announces $57M sale of non-core real estate - Acorn International announced that it consummated the sale of certain real estate to Hong Kong Red Star Macalline Universal Home Furnishings Limited in exchange for cash payment of approximately $57M, subject to a post-closing working capital adjustment. The contract is subject to an approximately 12% purchase price holdback, which will be paid, netting out tax payables, after certain post-closing requirements are completed. The Company expects the net cash received from the transaction to be approximately $53M before taking into account the working capital adjustment. The Company expects to record an after-tax gain on the sale of real estate of approximately $36M related to the transaction. As of December 31, 2017 the carrying value of the real estate was approximately $17M. Pursuant to the terms of the sale and purchase agreement, Red Star acquired 100% of the shares in our wholly-owned Hong Kong subsidiary Bright Rainbow Investments Limited, which owns Shanghai HJX Digital Technology Co., Ltd, which in turn owns the land use rights to a plot of land in the Qingpu district of Shanghai with a total area of 76,799 square meters, along with the warehouse on that land plot.

08:08 EDT Zogenix announces initial QoL, cognitive function data from trial of ZX008 - Zogenix announced that Kelly Knupp, M.D., Associate Professor, Pediatrics-Neurology, Children's Hospital Colorado, presented new encouraging preliminary quality of life and cognitive function data from the Company's first Phase 3 trial of its investigational drug, ZX008, for the adjunctive treatment of seizures associated with Dravet syndrome. The data were presented at the American Academy of Neurology Annual Meeting, as part of a broader session entitled: "Neurology Year in Review: Emerging Therapies Plenary Session." As previously reported, Study 1 randomized patients to one of three treatment groups: ZX008 0.8 mg/kg/day, ZX008 0.2 mg/kg/day and placebo. Patient quality of life was assessed at baseline and during the study using two scales: the Pediatric Quality of Life Inventory and the Quality of Life in Childhood Epilepsy. For patients 5 years and older, cognitive function was assessed using the Behavior Rating Inventory of Executive Function. Both ZX008 treatment groups experienced positive effects on physical and psychosocial health resulting in a significant improvement as compared to placebo in health-related quality of life based on PEDS-QL Total Score. The PEDS-QL is an evaluation of health-related QoL, completed by the parent/caregiver and measuring physical, emotional, social, and school functioning of the child. The BRIEF measures cognitive processes, such as anticipation, judgement, self-awareness and decision making, which are also referred to as executive functions. In Study 1, following 14 weeks of treatment patients in the ZX008 0.8 mg/kg/day treatment group experienced significant improvement on the BRIEF Global Executive Composite Index Score, a summary score of all eight BRIEF clinical scales, useful as a measure in evaluating overall executive function. There were no significant differences noted on QOLCE, an assessment completed by a parent or caregiver that evaluates how epilepsy affects day-to-day functioning of their child in various life areas, including physical activities, well-being, cognition, social activities, behavior, and general health.

08:05 EDT Charter: Q1 total residential and SMB customer relationships increased 261,000 - First quarter total residential and SMB customer relationships increased 261,000, compared to 355,000 during the first quarter of 2017, when excluding the impact of customer activity related to Legacy Bright House's seasonal customer plan in 2017. As of March 31, 2018, Charter had 27.5 million total customer relationships and 52.5 million total PSUs. In the first quarter, total residential and SMB video, Internet and voice customers increased by 225,000, with Internet net additions of 362,000, video net losses of 112,000 and voice net losses of 25,000.

08:04 EDT Insys initiates CBD Phase 2 clinical trial for Prader-Willi syndrome treatment - Insys Therapeutics recently initiated a Phase 2 clinical trial of its cannabidiol, or CBD, oral solution for evaluation of safety and efficacy in pediatric patients with Prader-Willi syndrome, a rare genetic disease characterized by insatiable appetite in children that often leads to obesity, type 2 diabetes and premature death.

08:03 EDT Allergan reports migraine drug study meets co-primary endpoints - Allergan announced results from ACHIEVE II, the second of two pivotal Phase 3 clinical trials evaluating the efficacy, safety and tolerability of orally administered ubrogepant 25 mg and ubrogepant 50 mg compared to placebo in a single migraine attack in adults. In the modified ITT population of 1355 patients, both doses showed a statistically significant greater percentage of ubrogepant patients achieving pain freedom at 2 hours after the initial dose as compared to placebo patients and the 50 mg dose demonstrated a statistically significant greater percentage of ubrogepant patients achieving absence of the most bothersome migraine-associated symptom at 2 hours after the initial dose as compared to placebo patients. The 25 mg dose demonstrated improvement in the percentage of ubrogepant patients achieving absence of the most bothersome migraine-associated symptom at 2 hours after the initial dose as compared to placebo patients, however failed to demonstrate statistical significance. In ACHIEVE II, ubrogepant was well tolerated and demonstrated a safety profile similar to placebo. Additional results from this study are anticipated to be released at upcoming scientific meetings throughout 2018. Allergan anticipates filing of a New Drug Application to the FDA in 2019.

08:03 EDT Charter CEO says 'Our integration remains on track' - "Our integration remains on track, and we continue to drive higher penetration of our Spectrum products and fully deploy our operating strategy across the company. We have accelerated our financial growth, with 4.9% revenue growth and 6.5% Adjusted EBITDA growth in the quarter," said Tom Rutledge, Chairman and CEO of Charter Communications. "When our integration is completed, we will have created a unified infrastructure company, with one service and operating approach, offering customers fast, reliable bandwidth-rich connectivity products."

08:02 EDT Charter reports Q1 adjusted EBITDA up 6.5% y/y to $3.9B - Up 6.8% when excluding 2018 mobile launch costs.

07:47 EDT AstraZeneca announces positive EU CHMP opinion for Tagrisso - AstraZeneca announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion, recommending a change to the terms of the Marketing Authorization for Tagrisso to include the 1st-line treatment of adult patients with locally advanced or metastatic non-small cell lung cancer with activating epidermal growth factor receptor mutations.

07:37 EDT Endo announces presentation of CCH trial for cellulite at ASAPS meeting - Endo announced the presentation of clinical data from a Phase 2b investigational study of collagenase clostridium histolyticum for the treatment of cellulite during the Aesthetics Meeting 2018, the annual meeting of the American Society for Aesthetic Plastic Surgery. The Phase 2b trial enrolled 375 women with moderate or severe cellulite aged 18 years or older in the U.S. Each subject received up to three treatment sessions of CCH or placebo with each treatment session occurring approximately 21 days apart. A statistically significant proportion of CCH subjects reported being "Satisfied" or "Very Satisfied" with their cellulite treatment, compared to placebo subjects. CCH was well-tolerated by all dose groups. Earlier this year Endo announced the initiation of two identical Phase 3 RELEASE* clinical trials. The trials are expected to enroll 840 women aged 18 years or older with moderate to severe cellulite in the U.S.

07:35 EDT Invitae announces new program with Biogen for genetic testing - Invitae (NVTA) announced that it is launching a new program with Biogen (BIIB) to offer genetic testing at no charge to patients suspected of having or clinically diagnosed with spinal muscular atrophy, a rare, progressive, genetic, neuromuscular disease. The program, SMA Identified, is the latest addition to Invitae's network of partnerships that connect patients and clinicians to treatment and research. The SMA Identified program facilitates access to no-charge genetic testing to help accelerate and/or confirm the diagnosis of SMA. This testing detects SMN1 whole-gene deletions and sequence variants. The test also quantifies SMN2 copy number, which, along with SMN1 deletion, may be useful for prognosis. Genetic testing is a key diagnostic step for individuals suspected of having SMA. Positive results from genetic testing are typically required to initiate treatment.

07:32 EDT Virtus Investment reports Q1 adjusted EPS $2.59, consensus $2.47 - Reports Q1 revenue $129.0M, consensus $128.25M. Long-term AUM were $87.4B at March 31 compared with $88.8B at December 31, 2017, with the change primarily attributable to net outflows and market depreciation. Total AUM at March 31, 2018, which included $1.6B of assets in liquidity strategies, were $89.1B.

07:26 EDT Compugen says FDA requests more information on IND application for COM701 - Compugen announced that the U.S. FDA requested that the company provide additional CMC information in support of its IND application for COM701, initially submitted in late March 2018. COM701 is a first-in-class immuno-oncology therapeutic antibody targeting PVRIG. FDA recommended a lower starting dose of COM701 for the trial, which now requires a more sensitive COM701 assay detection method for this dose. The FDA informed the Company that the IND application review can be completed and the application can be taken off clinical hold once the requested information is provided by Compugen. The IND is intended to support initiation of a planned Phase 1 clinical trial of COM701 in patients with advanced solid tumors. This trial is not yet active at any investigational sites and has not recruited any patients.

07:21 EDT GasLog Partners raises quarterly cash distribution to 53c per unit - On April 26, 2018, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of 53c per common unit for the quarter ended March 31, 2018. The cash distribution is payable on May 11, 2018 to all unitholders of record as of May 7, 2018. The distribution is 1.2% higher than the fourth quarter of 2017 and 6.0% higher than the first quarter of 2017.

07:11 EDT Bristol-Myers announces clinical trial collaboration - Advantagene announced that the company entered into a clinical trial collaboration with Bristol-Myers to evaluate the safety, tolerability, and preliminary efficacy of Advantagene's investigational Gene Mediated Cytotoxic Immunotherapy, or GMCI, in combination with Bristol-Myers Squibb's programmed death-1, or PD-1, immune checkpoint inhibitor, Opdivo, in newly diagnosed malignant glioma patients receiving standard of care, or SOC, surgery and radiation with or without temozolomide. This study is being conducted in collaboration with leading physician/scientists in the Adult Brain Tumor Consortium, or ABTC, a group of premier research institutions located across the United States. Treatment of malignant gliomas is generally unsuccessful with 22,000 diagnoses and 13,000 deaths annually in the U.S. alone, according to the American Cancer Society. Malignant gliomas, most commonly glioblastoma multiforme, represent a critical unmet need, with a median survival of less than 15 months.

07:08 EDT Miragen says new data shows MRG-110 improves tissue perfusion, wound healing - miRagen Therapeutics announced new data from its preclinical studies of MRG-110, a miR-92 inhibitor, exploring the perfusion and healing benefits when administered by local injection to wounds. The data will be presented today, April 27, at the 2018 Wound Healing Society Annual Meeting in Charlotte, North Carolina, by Rusty Montgomery, Ph.D., Director of Research, miRagen Therapeutics. MRG-110 is also the subject of a Phase 1 clinical trial assessing its safety and tolerability following systemic dosing in collaboration with Servier, an independent international pharmaceutical company headquartered in France. The data to be presented at the WHS Annual Meeting was gathered during multi-dose, randomized studies in a pig model of wound healing. Animals were dosed by intradermal injection around the periphery of excisional wounds with multiple dose levels of MRG-110 over a period of two weeks. Treatments were randomized across different wound sites on multiple animals. Control animals were treated with either standard of care or injection of vehicle control. Wound healing and perfusion were assessed by photography, physical measurements, laser Doppler imaging and histology over a seven-week period until complete wound closure was achieved. The results of these preclinical studies in a model system which mimics human wound healing informed miRagen and Servier's joint decision to move MRG-110 into human clinical evaluation for potential use in dermal revascularization. The results showed improved perfusion and benefits to the wound healing process including:MRG-110 increased vascularization within the wound bed, which was associated with increased perfusion in drug treated wounds compared to controls. MRG-110 increased formation of new connective tissue and microscopic blood vessels that form on the surfaces of a wound during the healing process versus controls. At all doses tested there was evidence of accelerated wound healing in the majority of treated animals. The maximum difference in number of wounds with complete closure across all dose cohorts was shown at day 35. Improvements ranged from 25-58% complete wound closure compared to 0% treated with standard of care, and 12% vehicle control treated animals.MRG-110 is an inhibitor of microRNA-92, which has been shown in preclinical studies to be a regulator of new blood vessel creation. miRagen believes microRNA-92 inhibitors may accelerate and improve healing and thus potentially decrease complications of wounds in a variety of settings. MRG-110 is the third product candidate from miRagen to enter human clinical trials and is currently in a Phase 1 clinical trial in collaboration with Servier to evaluate its potential use in the treatment of heart failure. miRagen and Servier anticipate starting a second Phase 1 clinical trial evaluating intradermal administration of MRG-110 in the second quarter of this year for dermal revascularization.

07:03 EDT Clean Coal Technologies confirms Wyoming location for permanent test facility - Clean Coal Technologies announced that they have confirmed the permanent location for their test facility in Wyoming. "After months of intense due diligence inspecting a handful of prospective sites and the requisite infrastructure, rail and permitting requirements, we have decided upon the Fort Union Industrial Park in Gillette, Wyoming as the permanent home for our test facility," stated Sean Mahoney, CCTI Press Officer.

07:02 EDT President Trump highlights 'end' to Korean war in tweet - President Donald Trump just tweeted, "KOREAN WAR TO END! The United States, and all of its GREAT people, should be very proud of what is now taking place in Korea!"

06:58 EDT Colgate-Palmolive reports Q1 adjusted gross profit margin 60.3% - Gross profit margin was 60.2% in first quarter 2018 versus 60.3% in first quarter 2017. Excluding charges resulting from the Global Growth and Efficiency Program in both periods, Gross profit margin was 60.3% in first quarter 2018, a decrease of 40 basis points versus the year ago quarter as higher raw and packaging material costs were partially offset by cost savings from the Company's funding-the-growth initiatives.

06:39 EDT Gilead's Biktarvy for HIV-1 receives positive opinion from European CHMP - Gilead Sciences announced that the Committee for Medicinal Products for Human Use, the scientific committee of the European Medicines Agency, has adopted a positive opinion on the company's Marketing Authorization Application for Biktarvy, a once-daily single tablet regimen for the treatment of HIV-1 infection in adults without present or past evidence of viral resistance to the integrase class, emtricitabine or tenofovir. The MAA for BIC/FTC/TAF is supported by data from four ongoing Phase 3 studies. BIC/FTC/TAF met its primary objective of non-inferiority at 48 weeks in all four studies. The CHMP's recommendation will now be reviewed by the European Commission, which has the authority to approve medicines for use in the 28 countries of the European Union, Norway, Iceland and Liechtenstein. A European Commission decision is expected in mid-2018. BIC/FTC/TAF was approved by the FDA on February 7.

06:35 EDT WestRock CEO: We expect to exceed previously announced goals for FY18 - "The WestRock team performed well and delivered a strong second quarter. With our acquisition of Plymouth and the agreement to acquire KapStone, we are further strengthening our capabilities and solutions offerings for our customers," said Steve Voorhees, WestRock's CEO. "Paper and packaging markets remain attractive and, with the momentum that we have across our businesses, we expect to exceed our previously announced financial goals for fiscal 2018. As a result, we have raised our guidance for annual sales and EBITDA."

06:34 EDT Cabot Oil & Gas sees Q2 net production 1,850-1,900 Mmcfe per day

06:33 EDT Rockwell Collins CEO: 'Our plan for the year is playing out as we expected' - "Our strong performance in the first half of 2018 is underscored by another quarter of robust revenue and earnings growth," said Rockwell Collins CEO and President, Kelly Ortberg. "Our plan for the year is playing out as we expected, with commercial aftermarket strength, higher business jet utilization, and an improved defense budget environment driving our growth and more than offsetting the anticipated completion of nuclear security mandate-related sales in our Information Management Services business."

06:18 EDT RBS backs guidance, medium-term view provided in 2017 Annual Results document

06:13 EDT Daimler AG expects to slightly increase total unit sales in FY18

06:05 EDT Tuniu announces $2M share purchase plan - Tuniu announced that certain senior management members of Tuniu, consisting of Donald Dunde Yu, co-founder, chairman and CEO, Maria Yi Xin, CFO, Shihong Chen, CTO, and Wei Zhang, executive VP, intend to use their personal funds to purchase the company's American depositary shares on the open market for an aggregate amount up to a maximum of $2M within the next 6 months, pursuant and subject to the restrictions of, and consistent with, the applicable laws and regulations and the company's securities trading policy.

06:01 EDT ChinaCache terminates agreement to sell data center assets - ChinaCache announced that it has terminated the definitive agreement disclosed on March 6, 2017, to sell 79% of the Company's equity interest in ChinaCache Xin Run Technology Co. Limited, which owns and operates the Company's Internet data center business, to Tianjin Shuishan Technology Co, Ltd., Shanghai Qiaoyong Equity Interest Investment Fund Management Co., Ltd. and Tianjin Dingsheng Zhida Technology Co., Ltd. for a total consideration of RMB221.1M. Tianjin Shuishan Technology Co, Ltd., and Tianjin Dingsheng Zhida Technology Co., Ltd. are controlled by Mr. Song Wang, Chairman of the Board and CEO of ChinaCache. The termination of the Agreement was approved by the Company's Audit Committee. None of the parties to the Agreement incurred a breakup fee due to the termination. The Company's strategic decision to terminate the Agreement was made in recognition of the perceived value of the assets in light of increasing market demand for Internet data center services and the belief that Xin Run can effectively be leveraged as part of the Company's offering package to customers, thus better positioning the Company for long-term growth.

05:50 EDT Baidu plans to dispose of majority stake in financial services business - Baidu said in its earnings report yesterday that it is planning to dispose of a majority equity stake in its financial service business. Total assets of RMB 47.0 billion, or $7.5 billion, and total liabilities of RMB 41.2 billion, or $6.6 billion, associated with Baidu's financial service business were reclassified to assets and liabilities held for sale on the condensed consolidated balance sheet as of March 31, 2018. Any such transaction will be subject to the approval by the board of directors of the company, and there can be no assurance that the transaction will be completed, or the terms or timing therefore.

05:45 EDT iQIYI, JD.com announce exclusive strategic partnership - iQIYI (IQ) announced an exclusive strategic partnership with JD.com (JD), China's largest retailer, in which the two companies will link membership programs in order to provide high quality cross-platform services to members and explore high-value opportunities in the online paid service market. Under the new cooperation, users who purchase one-year memberships for either iQIYI or JD will be able to enjoy the premium service and benefits of both platforms. iQIYI paid members will receive access to the wide range of benefits provided by JD Plus, JD's premium membership program, including an array of special prices for selected products, coupons for free delivery, exclusive customer service and other exclusive benefits. JD Plus members will be able to enjoy the many benefits of iQIYI's VIP paid membership program, including exclusive content, ultra-high quality streaming video, participation in online events and access to selected film and television-related products. Building upon the companies' previous marketing partnership, the new initiative will bring access to premium online content and retailing services to a wider range of Chinese consumers than ever before. Combining the complimentary offerings of China's leaders in online entertainment and retailing, the cooperation is expected to further advance the trend towards high-quality paid membership services in China. China's growing number of internet users are increasingly willing to pay extra for premium service and content, as reflected in the strong growth of both JD Plus and iQIYI's paid subscription services. The online paid subscription market is expected to experience continued rapid growth in terms of subscriber base and ARPU over the coming years.

05:38 EDT Sanofi confirms FY18 guidance - Sanofi CEO, Olivier Brandicourt, commented: "In the first quarter, the performance of our global operations, coupled with disciplined expense management, allowed us to manage the impact of the losses of exclusivity for Lantus and sevelamer in the U.S. Furthermore, with the consolidation of Bioverativ and the acquisition of Ablynx, we have established the foundation for a global Rare Blood Disorder franchise which will further enhance our leadership in Specialty Care. Importantly, we continue to execute on our business priorities and position the company for a new period of growth which is expected to begin in the second half of 2018."