Stockwinners Market Radar for August 30, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:51 EDT Cimarex Energy raises quarterly dividend by 12.5% to 18c per share - The dividend is payable on November 30, 2018, to stockholders of record on November 15, 2018.

19:03 EDT PotlatchDeltic authorizes special dividend of $3.54 per share - The board of directors of PotlatchDeltic Corporation approved a special dividend on PotlatchDeltic's common stock of approximately $222M, or $3.54 per share based upon the number of shares currently outstanding. The special dividend amount equals the company's determination of the accumulated earnings and profits of Deltic Timber Corporation as of February 20, 2018, the date Deltic merged into a wholly-owned subsidiary of PotlatchDeltic, and must be distributed by the company prior to year-end in order to maintain the company's qualification as a real estate investment trust for U.S. federal income tax purposes. The special dividend is payable on November 15, 2018, to stockholders of record on September 27, 2018.

18:46 EDT Reata Pharmaceuticals receives $30M milestone payment from Kyowa Hakko Kirin - Reata Pharmaceuticals announced that it has received a $30 million milestone payment from its licensee, Kyowa Hakko Kirin Co., Ltd. (Kyowa Hakko Kirin), following the initiation of AYAME, a Phase 3 clinical trial to assess the efficacy and safety of bardoxolone methyl (bardoxolone) for the treatment of diabetic kidney disease in Japan. In December 2009, Reata granted Kyowa Hakko Kirin the exclusive license to develop and commercialize bardoxolone in renal disease and certain other indications in Japan, China, Taiwan, South Korea, and Southeast Asia. Last year, Kyowa Hakko Kirin reported positive results from the Phase 2 TSUBAKI trial of bardoxolone in patients with type 2 diabetes and chronic kidney disease. The pivotal AYAME trial began in May of this year and will enroll an estimated 700 diabetic kidney disease patients, with an estimated study completion date of March 2022. Kyowa Hakko Kirin is also collaborating with Reata in Japan on the ongoing Phase 3 CARDINAL trial of bardoxolone for the treatment of Alport syndrome, a severe, hereditary form of chronic kidney disease.

18:30 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: American Outdoor Brands (AOBC) up 18.8%... Lululemon (LULU) up 7.9%... A10 Network (ATEN) up 3.2%. ALSO HIGHER: Merck (MRK) up 0.5% after its HIV-1 treatments DELSTRIGO and PIFELTRO were approved by FDA. DOWN AFTER EARNINGS: Ambarella (AMBA) down 14.2%... Zuora (ZUO) down 11.8%... Nutanix (NTNX) down 6.3%... ULTA Beauty (ULTA) down 4.0%... Cooper Companies (COO) down 3.7%... Yext (YEXT) down 2.3%. ALSO LOWER: Chipotle (CMG) down 0.8% after Pershing Square lowered its stake.

17:39 EDT Ambarella falls over 14% after Q3 revenue guidance below consensus - Shares of Ambarella are down 14.21% or $5.65 per share to $34.10 in after market trading

17:09 EDT United Technologies awarded $118.2M U.S. Navy contract modification - United Technologies is awarded not-to-exceed $118,219,503 for modification to a previously awarded fixed-price-incentive-firm target, cost-plus-incentive-fee, cost-plus-fixed-fee contract. This modification provides for initial spares, including four F135-PW-600 engines for the Marine Corps; one power module and gearbox; four lift fan modules; and eight drive shafts in support of the Marine Corps' low-rate initial production Lot 11 F-35 Lightning II aircraft.

17:06 EDT Boeing awarded $805.3M U.S. Navy contract - Boeing is awarded a ceiling price $805,318,853 fixed-price-incentive-firm-target contract to provide the design, development, fabrication, test, verification, certification, delivery, and support of four MQ-25A unmanned air vehicles, including integration into the carrier air wing to provide an initial operational capability to the Navy. The work is expected to be completed in August 2024.

17:01 EDT Eli Lilly names Anne White as president of Oncology unit - Eli Lilly announced that Anne White has been promoted to senior vice president of Lilly and president of Lilly Oncology effective September 1, 2018. She will become a member of Lilly's executive committee, reporting directly to chairman and chief executive offer, David A. Ricks. White will replace Sue Mahony, Ph.D., who retires on August 31. White is currently vice president of portfolio management, Chorus and Next Generation Research & Development. She has more than 25 years of experience in the pharmaceutical industry, serving in leadership roles in oncology, neuroscience, infectious disease drug development and process transformation. White also worked in biotech, having founded and led a startup company in oncology drug development with partnerships with the Moffitt Cancer Center and the National Cancer Institute.

16:49 EDT PRGX Global CFO Schleicher to leave for personal reasons - PRGX Global announced that Debbie Schleicher, the company's Chief Financial Officer, Controller and Treasurer, will be leaving the company for personal reasons. The board of directors has approved the appointment of Peter Limeri as interim Chief Financial Officer, interim Treasurer and interim Controller, effective immediately. Limeri will serve until a permanent Chief Financial Officer has been appointed.

16:43 EDT Nutanix falls over 4% afterhours following Q4 results and Q1 guidance

16:40 EDT CatchMark Timber completes acquisition of 18,063 acres of Oregon timberlands - CatchMark Timber announced the completion of its acquisition of 18,063 acres of prime Oregon timberlands for $88.8 million from Forest Investment Associates. The timberlands - known as the Bandon Property - are strategically situated within the Douglas fir/western hemlock zone between the Coos Bay markets and Roseburg mills approximately 150 miles southwest of Portland.

16:34 EDT Berkshire Partners raises stake in Advanced Drainage to 18.5% from 16.0%

16:31 EDT AgroFresh Solutions appoints Graham Miao CFO - AgroFresh Solutions announced that Graham Miao will be joining the company as CFO, effective immediately. He will be replacing Katherine Harper, who is leaving the company to pursue other professional interests. Miao is an accomplished finance professional and business leader whose 25-year career has spanned several publicly traded companies. Most recently, Miao was president and CFO of Pernix Therapeutics Holdings.

16:25 EDT Zuora falls over 6% afterhours following Q2 results and Q3 guidance

16:14 EDT Veracyte achieves major milestone for Envisia classifier - Veracyte announced that it has received a draft Medicare local coverage determination for the Envisia Genomic Classifier through the MolDx program. WPS Health Solutions posted a draft policy today, and the three other MACs that participate in the Palmetto GBA-administered MolDx program are expected to issue similar LCDs. The Envisia classifier, which is built on next-generation RNA sequencing and machine learning technology, is the first test to achieve this significant Medicare coverage milestone for use in diagnosing idiopathic pulmonary fibrosis. Upon anticipated finalization, Envisia will become Veracyte's third genomic test to gain Medicare coverage since the company's founding in 2008. Veracyte estimates that each year in the United States and Europe, up to 200,000 patients are evaluated for suspected interstitial lung diseases , including IPF, which is among the most common, deadly and difficult to diagnose of these lung-scarring diseases. Veracyte estimates that half of the patients evaluated in the United States are covered by Medicare. The draft policy is open to a 45-day comment period and Veracyte anticipates that the final policy will go into effect in early 2019. Veracyte's tests for improved diagnosis of thyroid cancer and lung cancer received Medicare coverage in 2012 and 2016, respectively.

16:12 EDT Cohu and Xcerra shareholders approve proposals related to merger - Cohu (COHU) and Xcerra (XCRA) announced that the respective shareholders of Cohu and Xcerra have voted to approve proposals related to the previously announced Agreement and Plan of Merger, dated as of May 7, 2018, by and among Cohu, Xcerra Acquisition Corp. and Xcerra, pursuant to which Cohu will acquire Xcerra. At special meetings held earlier today, the holders of approximately 86.0% of Cohu's common stock outstanding and entitled to vote at Cohu's special meeting voted in favor of the issuance of Cohu common stock in connection with the proposed acquisition of Xcerra, and the holders of approximately 70.3% of Xcerra's common stock outstanding and entitled to vote at Xcerra's special meeting voted to approve the transactions contemplated by the definitive merger agreement. The transaction is expected to close in the fourth quarter of 2018, subject to the satisfaction or waiver of customary closing conditions. Upon the completion of the proposed transaction, Xcerra shareholders will be entitled to receive $9.00 in cash and 0.2109 of a share of Cohu common stock, subject to the terms of the definitive merger agreement, and Xcerra's common stock will no longer be publicly traded and will be delisted from the NASDAQ Global Select Market.

16:12 EDT Ambarella CEO says 'disappointed' with near term outlook - "While we are disappointed with our near term outlook, we remain confident that our decision to focus on computer vision applications in the IP security, automotive and robotics AI markets is the correct strategy and is already bearing fruit," said Fermi Wang, president and CEO. "We have delivered our CV22 and CV2 computer vision chips to customers and their evaluation results are very encouraging. We believe our excellent neural network processing performance combined with the low power of our solutions gives us a strong competitive position in our target markets. Moreover, we continue to expand our computer vision product family to deliver solutions that more fully address the growing market opportunity," he said.

16:10 EDT American Outdoor Brands CEO says 'pleased' with Q1 results - James Debney, American Outdoor Brands Corporation President and CEO, commented, "We are pleased with our operational and financial results for the first quarter. Our increased profitability was driven by consumer preference for our new products, reduced promotions versus the prior year, and solid progress on a number of our expense reduction initiatives. In our Firearms segment, we introduced several new products and extensions under our Performance Center, M&P, and Thompson/Center brands. New products, which we define as products launched within the past twelve months, represented 28.5% of our firearm revenue and included strong sales of our M&P Shield 380 EZ pistol, which we launched in February. That pistol has been extremely well received by our consumers and continues to gain momentum. Our Outdoor Products & Accessories segment generated approximately 25% of our total revenue in the quarter, and Crimson Trace further expanded its product offerings in this segment with the launch of several new rail mounted lights. Lastly, we achieved several milestones in the development of our new Logistics & Customer Services facility in Missouri, a strategic initiative that will ultimately allow us to lower our costs and better serve our customers."

16:07 EDT Nutanix sees Q1 billings $370M-$390M - Sees Q1 Billings between $370M and $390M, implying software and support billings growth of 50-55% YoY; Bill-to-revenue ratio of approximately 1.26x; Non-GAAP gross margin between 78% and 79%.

15:34 EDT Mattel creates Global Franchise Management Group to extend brands - Mattel announced the creation of its Global Franchise Management Group, a new division that will bring together several key functions to extend the company's brands to new commercial opportunities. Janet Hsu, a veteran children's entertainment executive, will join Mattel in the newly-created role of Chief Franchise Management Officer. Reporting to Richard Dickson, Mattel's President and COO, Ms. Hsu will oversee Global Franchise Management for Mattel, with responsibility for developing and implementing franchise strategy across the company's portfolio of iconic brands. Ms. Hsu will work to extend the company's brands to new commercial opportunities in key areas including content development and distribution, consumer products, digital gaming, live events and strategic partnerships. "As we continue to transform Mattel into a high-performing toy company, we are taking big steps to further strengthen our executive leadership team," said Mr. Dickson. Janet's proven track record and expertise in expanding established global brands make her ideally suited to help Mattel extend its iconic properties in new and relevant ways that continue to move with our consumer. I am confident that Janet is the right leader to help ensure we are maximizing the value of our brands."

15:04 EDT Musk forwards email to Tesla about pitching story on fake complaints, BI says - In a series of tweets, Business Insider's Linette Lopez reported that Tesla founder and CEO Elon Musk forwarded an email last week to all of the company detailing a plan to pitch reporters a story saying most of the NHTSA safety complaints against the car maker are fake. It is not clear who wrote the email or if NHTSA would agree with them on what is "real" or fake, Lopez noted. The reporter added that NHTSA told her that customer complaints are just one of a series of factors they consider when deciding whether or not to probe a company. Reference Link

14:40 EDT Barington/Hilco Acquisition receives Nasdaq delisting notice - Barington/Hilco Acquisition received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC indicating that it was no longer in compliance with the Nasdaq Listing Rules. The company is a special purpose acquisition company. Nasdaq advised the company that a SPAC is required to complete one or more business combinations within 36 months of the effectiveness of the SPAC's initial public offering. Since the Company's registration statement became effective on February 5, 2015, it was required to complete its initial business combination by February 5, 2018. The applicable rule also provides that if the company does not comply with the above requirement, Nasdaq will issue a Staff Delisting Determination under Rule 5810 to delist the company's securities. Accordingly, the Nasdaq Staff has advised BHAC that its securities will be delisted from The Nasdaq Stock Market, and unless the company requests an appeal of such determination, its securities will be suspended at the opening of business on September 4, 2018 and a Form 25-NSE will be filed with the Securities and Exchange Commission which will remove the company's securities from listing and registration on the Nasdaq Stock Market.

13:17 EDT Kinder Morgan Canada shareholders approve sale of Trans Mountain Pipeline - Kinder Morgan Canada Limited announced that KML shareholders have voted to approve the sale of the Trans Mountain Pipeline system and the Trans Mountain Expansion Project, or TMEP, to the Government of Canada at a special meeting of shareholders. With that favorable vote, all conditions precedent to closing the transaction have been met, subject to receipt of all items required at closing. Under the terms of the May 29 share and unit purchase agreement, the transaction must close seven business days after the satisfaction of the conditions precedent unless the parties agree to close earlier. The parties expect to close the transaction as early as August 31. Kinder Morgan, Inc. holds an approximately 70% majority voting interest in KML and a corresponding 70% economic interest in KML's business and assets.

12:42 EDT Merck HIV treatment Pifeltro approved by FDA - The FDA granted approval to Merck's oral tablet Pifeltro, which is indicated in combination with other antiretroviral agents for the treatment of HIV-1 infection in adult patients with no prior antiretroviral treatment history, according to a prescribing label posted to the FDA website. Reference Link

12:30 EDT EA slides after 'Battlefield V' delay, guidance cut - Shares of "big three" game publisher Electronic Arts (EA) were sliding after the video game giant cut its net bookings guidance for fiscal 2019, driven by the delay of the launch date for its upcoming World War 2 shooter "Battlefield V." WHAT'S NEW: EA announced this morning that it moved the launch date for "Battlefield V" from October 19 to November 20. Oskar Gabrielson, general manager of the game's developer DICE, said that the company expects to see feedback from the game's upcoming Open Beta and that this was the reason for moving the launch date. Gabrielson added that the development team will "take the time to continue to make some final adjustments to core gameplay, and to ensure we really deliver on the potential of Tides of War." The Fly notes that the original rollout date of October 19 was a week after the release of Activision Blizzard's (ATVI) "Call of Duty: Black Ops 4" and a week before the launch of Take-Two's (TTWO) "Red Dead Redemption 2." REVISED GUIDANCE: Electronic Arts said that, as a result of the updated launch date for "Battlefield V," it has revised its fiscal 2019 outlook. The company cut its FY19 view for net bookings, its adjusted revenue metric, to $5.2B from $5.55B, noting that roughly $115M of this change is driven by the movement in foreign exchange rates. Analysts expect EA to report FY19 revenue of $5.59B. In addition, the publisher maintained its guidance for the second quarter, expecting Q2 earnings per share of roughly 48c on revenue of $1.27B. ANALYST OPINION: Following the news, KeyBanc analyst Evan Wingren said in a research note that he estimates that the guidance cut as well as "likely a worse-than-expected showing from mobile titles" could have a 35c impact to EPS, if all else is equal. Wingren added that he views the "Battlefield V" delay as positive for Activision Blizzard and Take-Two and their new game launches, as it moves a large competitor away from their release window. The analyst maintained an Overweight rating on all of the "big three" video game publishers. WHAT'S NOTABLE: On August 20, Cowen analyst Doug Creutz said in a research note to investors that the new "Battlefield" game appears "headed for a rough go." Creutz said that, according to his firm's Ordometer analysis of upcoming game sales, "Battlefield V" was "tracking weakly" -- over 85% behind "Black Ops 4." The analyst noted at the time that this estimate was "very far off" the tracking levels of previous games in EA's war shooter series in 2011, 2013, and 2016. Creutz added at the time that the mid-October release date for "Battlefield V" could send the game to a similar fate experienced by 2016 EA game "Titanfall 2," which got squeezed out of its launch date directly between "Battlefield 1" and "Call of Duty: Infinite Warfare." PRICE ACTION: In afternoon trading, EA shares are down 8.8% to $117.16, while Activision Blizzard is down 1.2% and Take-Two is fractionally lower.

12:12 EDT Eversource VP Leon Oliver sells over $3M in company shares - Eversource VP Leon Oliver disclosed in a filing that he had sold 50,000 shares of Eversource shares at an average price of $62.03 per share between August 28 and 29. The total transaction value of the sale was $3,101,355.

12:00 EDT Edenor falls -12.7% - Edenor is down -12.7%, or -$3.04 to $20.93.

12:00 EDT Abercrombie & Fitch falls -16.0% - Abercrombie & Fitch is down -16.0%, or -$4.36 to $22.86.

12:00 EDT Par Pacific rises 18.6% - Par Pacific is up 18.6%, or $3.34 to $21.28.

11:51 EDT Snap shares drop after map displays offensive label for New York - Thursday morning, Snap Inc. (SNAP) Snapchat users started tweeting screenshots of their Snap Maps displaying the label "Jewtropolis" in place of "New York City." Snapchat's support team responded to the complaints on Twitter, saying Snap Map relies on third-party mapping data from Mapbox, and as such, they were not able to immediately fix it. Mapbox, a startup that has been funded by Softbank's (SFTBY) Vision Fund, has over 400M people using their maps on Snap Maps, as well as other services including real estate service Zillow (Z, ZG). Mapbox CEO and founder Eric Gundersen said, "This is now 100% fixed and should have never happened. It's disgusting." PRICE ACTION: Around midday, Snap shares were trading down over 2.5% to $10.88.

11:37 EDT Box CEO expects growth to accelerate going into fiscal 2020 - Box CEO Aaron Levie is speaking on CNBC.

11:20 EDT Buffett says 'very hard' to offer premium for packaged food company - When speaking on CNBC about Campbell Soup's (CPB) decision to sell its international and fresh units, Berkshire Hathaway's (BRK.A) Warren Buffett said it is "very hard" to offer a premium for a packaged food company. He added that Berkshire "certainly wouldn't be interested" in Campbell Soup or its units.

11:11 EDT Buffett wants quarterly earnings to continue, guidance to stop - Warren Buffett is speaking on CNBC.

11:04 EDT Berkshire 'certainly wouldn't be interested' in Campbell Soup, Buffett says - Asked if Berkshire Hathaway (BRK.A) or Kraft Heinz (KHC) would be interested in buying Campbell Soup (CPB), Warren Buffett said Berkshire "certainly wouldn't be interested."

11:02 EDT Buffett says can't add to airline holdings, doesn't want to go above 10% - Warren Buffett, while speaking on CNBC, says that Berkshire Hathaway (BRK.A) owns about "nine and a fraction" percent of the four biggest airlines and that he does not want to own more than a 10% stake in them.

10:57 EDT Buffett says bought 'just a little' Apple since last quarterly filing - Asked by CNBC's Becky Quick if Berkshire Hathaway (BRK.A) has added to its Apple (AAPL) position since the firm's last quarterly filing disclosing its holdings, Warren Buffett replied that he's "bought just a little."

10:44 EDT DaVita, peers under pressure as California passes controversial dialysis bill - Shares of DaVita (DVA), Fresenius Medical (FMS) and American Renal Associates (ARA) are slipping this morning after the California Assembly passed dialysis legislation SB 1156, a union backed bill that will cap commercial dialysis payments at lower Medicare rates and force charities to disclose donors of third-party payments. The bill would essentially create a single-payer for dialysis services in the state, but California's Senate still has to vote it through again before it heads to Governor Jerry Brown's desk. RISK TO DAVITA'S EARNINGS: After the California Assembly passed an amended version of Senate Bill 1156, which, among other things, requires that entities providing charitable premium assistance to identify and disclose to the health plan the details of each person assisted, JPMorgan analyst Gary Taylor told investors that he believes this bill could impair approximately half of DaVita's California earnings, or about 10% of total corporate earnings. Furthermore, the analyst noted that he sees risk that other states could adopt similar legislation supported by insurers, employers and the Service Employees International Union. Taylor sees the issue as constituting significant binary event risk for DaVita shareholders, reiterating an Underweight rating and a $68 price target on the shares. RISK 'SEEMS MANAGEABLE': In a research note of his own after the California Assembly passed SB 1156, Baird analyst Matthew Gillmor told investors that he estimates the gross earnings risk to DaVita is about 8%. While the stock arguably prices in significant risk associated with SEIU legislative/ballot efforts, the analyst had been hopeful the industry would be successful in combating these initiatives. While his conviction level moves somewhat lower, Gillmor argued that the risk associated with SB 1156 "seems manageable." The analyst reiterated an Outperform rating and $90 price target on DaVita shares. PRICE ACTION: In morning trading, shares of DaVita have plunged over 9% to $66.00, while American Renal and Fresenius Medical have dropped about 3% each to $21.64 and $51.52, respectively.

10:12 EDT Geospace announces OBX contracts expected to be worth over $20M - Geospace Technologies announced that it has entered into contracts with two international seismic contractors to rent up to 12,500 stations of its cableless ocean-bottom OBX nodal system. Total revenue from these contracts is expected to be over $20M, with delivery and revenue recognition projected to begin late in the company's first quarter of fiscal year 2019 and revenue recognition continuing into the first quarter of fiscal year 2020. Each of these rental contracts is expected to have a total term of approximately seven to nine months. Both contracts require upfront deposits which are not refundable if the contract is cancelled.

10:00 EDT ProPetro Holding falls -9.9% - ProPetro Holding is down -9.9%, or -$1.64 to $14.92.

10:00 EDT Par Pacific rises 13.4% - Par Pacific is up 13.4%, or $2.40 to $20.34.

10:00 EDT Signet Jewelers rises 23.3% - Signet Jewelers is up 23.3%, or $12.71 to $67.36.

09:42 EDT Southwest Airlines adds new international routes from U.S. gateways - Southwest Airlines announced the beginning of its spring 2019 schedule and the addition of new international routes from key U.S. gateway cities. The carrier extended its bookable flight schedule through April 7, 2019, and flights are available to be booked today at Southwest.com. Beginning Saturday, March 9, 2019, the carrier will add new and returning seasonal flights on Saturdays between: St. Louis and Montego Bay, Jamaica, St. Louis and Punta Cana, Dominican Republic, Milwaukee and Cancun, Pittsburgh and Cancun, Raleigh-Durham and Cancun, San Antonio and Cancun and Baltimore/Washington and Cabo San Lucas/Los Cabos. Southwest also announced the beginning of new seasonal service on Saturdays effective March 9, 2019, between: Cleveland and Tampa and Cincinnati and Orlando. On Sunday, March 10, 2019, the carrier will begin weekly service on Sundays between: Dallas and West Palm Beach, Fla., Dallas and Harlingen, Tex. and Houston and Lubbock.

09:39 EDT Amazon shares hit $2,000 for first time, up $2.68 to $2,000.78 in early trading

09:38 EDT Amazon shares hit $2,000 per share for first time, up $2.68 to $2,000.78

09:33 EDT Nevada reports July statewide gaming win down 0.16% to $996.44M - Nevada's Gaming Control Board reports Las Vegas Strip gaming win was down 5.75% in July to $533.1M. Publicly traded companies in the casino gaming space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).

09:21 EDT Campbell Soup says moving investor day to spring 2019 from October

09:10 EDT Hess Corp. announces ninth discovery offshore Guyana - Hess Corporation announced a ninth oil discovery offshore Guyana at the Hammerhead-1 well, marking its fifth oil discovery on the Stabroek Block in the past year and proving a new play concept for potential development. Hammerhead-1 encountered approximately 197 feet of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 13,862 feet depth in 3,373 feet of water. The Stena Carron drillship began drilling on July 27, 2018. Hammerhead-1 is located approximately 13 miles southwest of the Liza-1 well and follows previous discoveries on the Stabroek Block at Liza, Liza Deep, Payara, Snoek, Turbot, Ranger, Pacora and Longtail. These previous discoveries are estimated to contain gross recoverable resources of more than 4 billion barrels of oil equivalent and have established the potential for up to five floating production, storage and offloading vessels producing over 750,000 barrels per day by 2025. There is potential for additional production from significant undrilled targets and plans for accelerated exploration and appraisal drilling. A second exploration vessel, the Noble Tom Madden, is due to arrive in Guyana in October to accelerate exploration of high potential opportunities and will commence drilling at the Pluma prospect approximately 17 miles from Turbot. Liza Phase 1, which is expected to begin producing oil by early 2020, will use the Liza Destiny FPSO to produce up to 120,000 barrels of oil per day. Construction of the FPSO and subsea equipment is well advanced. Pending government and regulatory approvals, Liza Phase 2 is targeted for sanctioning by the end of this year. It will use a second FPSO designed to produce up to 220,000 barrels per day and is expected to be producing by mid-2022. A third phase of development, at the Payara Field, is targeted for sanctioning in 2019 and will use an FPSO designed to produce approximately 180,000 barrels of oil per day, with first production as early as 2023.

09:06 EDT Hanmi Financial announces 1.6M share repurchase program - Hanmi Financial announced that its board has adopted its first stock repurchase program. Under the repurchase program, the company may repurchase up to 5% of its outstanding shares or approximately 1.6M shares of its common stock. The repurchase program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the SEC.

09:03 EDT Fly Intel: Pre-market Movers - HIGHER: K2M Group (KTWO), up 25% after Stryker (SYK) agreed to acquire all shares of common stock of K2M in an all cash transaction for approximately $1.4B... Tocagen (TOCA), up 9% after Chardan analyst Gbola Amusa started the stock with a buy rating and $30 price target. The analyst cited the risk-reward proposition on its pivotal, Phase III, BTD/PRIME-designated therapy, TOCA 511 and TOCA FC, for high-grade gliomas. UP AFTER EARNINGS: Tilly's (TLYS), up 14%... Signet Jewelers (SIG), up 14%... Titan Machinery (TITN), up 16%... Ciena (CIEN), up 8%... Guess (GES), up 8%. LOWER: Campbell Soup (CPB), down 2% after reporting earnings and announcing plans to divest its international and fresh businesses... DaVita (DVA), down 4% after JPMorgan said a California Senate bill puts 10% of DaVita's earnings at risk. DOWN AFTER EARNINGS: Abercrombie & Fitch (ANF), down 10%... Burlington Stores (BURL), down 4%.

09:00 EDT Electronic Arts trading resumes

08:51 EDT CV Sciences provides corporate update to shareholders - CV Sciences issued the following statement to shareholders: "CV Sciences would like to assure our shareholders that we are keenly aware of recent market activity and certain disinformation disseminated by persons holding short positions in our stock. As many of our shareholders are aware, our Company has been victimized by campaigns run by short sellers in order to depress our stock price, so they could make financial windfalls," stated Joseph Dowling, Chief Executive Officer of CV Sciences. "We are also aware that at least one such group has boasted on social media platforms about its financial returns since their release of misleading information regarding the Company's patent prosecution and drug development efforts. While we don't normally comment on our stock price or performance, it is important to stress that nothing has fundamentally changed in our business. We continue to deliver solid financial results, and we remain very confident in our prospects. We sympathize with our shareholders for having to endure this short selling activity, and the manipulations and misinformation that come along with it. We will continue to do everything in our control to bring this activity to a halt. In the months ahead, we look forward to reporting our operating results in this fast-growing industry and providing updates on our drug development efforts."

08:44 EDT Electronic Arts pushes out Battlefield V launch date to November 20, 2018 - Electronic Arts has announced that Battlefield V will have a new launch date, November 20, 2018. To offer "insight into how we arrived at this new date," Oskar Gabrielson, General Manager of DICE, said in a post to EA's blog: "With the Open Beta just around the corner, we are excited about the millions of you who will join us and experience the game. And we fully expect to see even more feedback coming our way. And that's why we're moving our launch date. We're going to take the time to continue to make some final adjustments to core gameplay, and to ensure we really deliver on the potential of Tides of War. We know moving the launch date means that we all have to wait a little longer. But we're going to take our time to make sure we get it right." Reference Link

08:39 EDT Sequential Brands announces Martha Stewart, BloomsyBox.com partnership - Sequential Brands announced the Martha Stewart brand's new floral subscription partnership with BloomsyBox.com. The floral collection will launch in December 2018 just in time for the holiday season and feature a monthly delivery of fresh-cut roses carefully curated by Martha Stewart from sustainable flower farms around the globe. In partnership with BloomsyBox.com, a vertically integrated floral subscription company based in Miami, the Martha Stewart and BloomsyBox partnership, will offer a variety of monthly subscription options, including frequency of deliveries, bouquet sizes, and gifting preferences. Each bouquet of quality blooms will arrive directly from the farm in accordance with Martha's selection of seasonal favorites, along with fresh floral care tips and inspiration. The subscription service will be available for purchase beginning December 1 on the BloomsyBox.com website. The Martha Stewart brand and BloomsyBox.com plan to expand its offerings to include additional floral varieties as a part of the Martha Stewart curated line in 2019.

08:37 EDT Amyris announces GRAS designation from independent expert panel - Amyris announced that its zero-calorie sweetener made from sugarcane has received designation as GRAS, or Generally Recognized as Safe, by an independent expert panel. This designation is based on FDA requirements and allows Amyris to begin commercially selling its new, natural, zero-calorie sweetener. Amyris plans to commercially launch its sweetener during Q4 and will host an invitation-only tasting as part of the launch. This is a special opportunity for investors, media and guests to be among the first to sample the new sweetener on its own and as an ingredient in a selection of products, before it's introduced to the rest of the world.

08:34 EDT Avinger announces 510 filing of Pantheris SV device - Avinger announced the company submitted a new 510 application to the FDA for the Pantheris SV Lumivascular atherectomy system. Pantheris SV is a line extension of the Pantheris family of catheters, the first and only image-guided atherectomy devices for the treatment of PAD. Designed with a lower profile and longer length, Pantheris SV is intended to expand the number of addressable procedures for Pantheris by allowing physicians to target lesions in smaller diameter vessels and more distal regions of the vasculature.

08:32 EDT Electronic Arts cuts FY19 bookings guidance to $5.2B from $5.55B

08:27 EDT Auris Medical announces feedback from Type C meeting with FDA for AM-111 - Auris Medical announced feedback from a Type C meeting with the FDA related to the development plan and regulatory pathway for AM-111, its investigational treatment for sudden sensorineural hearing loss. The Type C meeting had been requested by the company following the results of the HEALOS phase 3 trial. The results showed, based on a post-hoc analysis, a clinically meaningful and nominally significant improvement in hearing for the AM-111 0.4 mg/mL group compared to placebo in the subpopulation of patients with acute profound hearing loss. These patients were initially completely deaf or almost deaf on the affected ear and normally would have faced a particularly poor prognosis for hearing recovery. The FDA reviewed the company's proposed concept for a placebo-controlled pivotal trial with AM-111 0.4 mg/mL in patients suffering from acute profound hearing loss. The trial protocol builds to a large extent on the design and outcomes from HEALOS and also incorporates specific feedback provided by the European Medicines Agency earlier this year. In a written response the FDA endorsed the proposed choice of primary and secondary efficacy endpoints, the safety endpoints, as well as the planned sample size and statistical methodology. In addition, the FDA provided important guidance on the regulatory path forward.

08:24 EDT FuelCell sells project company to American Electric subsidiary - FuelCell (FCEL) announced that it has sold the project company that owns the 1.4 megawatt fuel cell power plant located at Trinity College in Connecticut, to AEP OnSite Partners, an American Electric Power (AEP) company. This project has been developed and constructed by FuelCell Energy and will be placed into commercial operation following the sale. The project company, under the new ownership of AEP OnSite Partners, will deliver clean power and heat to Trinity College under a multi-year power purchase agreement. The sale of this project company and its assets to AEP OnSite Partners will result in revenue recognition of product sales from FuelCell Energy's generation project assets portfolio in August. FuelCell Energy will operate and maintain the power plant under a fifteen-year service agreement with AEP OnSite Partners, resulting in recurring revenue recognition over the term.

08:17 EDT Sirius Group, Easterly Acquisition Corp. amend merger agreement - On August 30, 2018, Sirius International Insurance Group and Easterly Acquisition Corp. (EACQ) announced that they have executed an amendment to the agreement and plan of merger for the previously announced business combination of Sirius Group with Easterly, pursuant to which Easterly will merge with and become a wholly-owned subsidiary of Sirius Group and Sirius Group will become a publicly listed company. The amendment, among other things, modifies the date on which the exchange ratio, used to calculate the number of Sirius Group common shares to be issued in the Merger, is determined. Pursuant to the terms of the Merger Agreement, as amended, Easterly's common stock will be exchanged for Sirius Group's common shares at a value equal to 1.05x Sirius Group's diluted GAAP book value per share as of September 30, 2018, instead of as of June 30, 2018. Sirius Group has also entered into subscription agreements with affiliated funds of Gallatin Point Capital, The Carlyle Group (CG), Centerbridge Partners and Bain Capital Credit pursuant to which the investors have committed to purchase $213M of Series B preference shares and common shares in a private placement, which amount may be decreased to $111M at Sirius Group's option. In addition, the investors will receive warrants that are exercisable for a period of five years after the issue date at a strike price equal to 125% of the Merger Price. The closing of the private placement is subject to the closing of the Merger, as well as other customary conditions. Proceeds from the private placement will be used by Sirius Group to redeem all outstanding Series A preference shares, and the remainder for general corporate purposes.The Merger has been unanimously approved by the boards of directors of Sirius Group and Easterly and is expected to close at the end of the third or beginning of the fourth quarter of 2018. .

08:10 EDT Global Payments COO David Mangum to depart - Global Payments announced that David Mangum, President and Chief Operating Officer, intends to leave the company. In addition, Global Payments announced today that Sloan and Cameron Bready, Senior Executive Vice President and CFO, have extended their employment agreements through August 2021. Mr. Sloan and Mr. Bready will also be assuming Mangum's primary responsibilities.

08:10 EDT Heico subsidiary acquires Optical Display Engineering, terms not disclosed - HEICO Corporation announced that a subsidiary of its Flight Support Group has acquired 100% of the business and assets of Optical Display Engineering in an all cash transaction. HEICO stated that it expects the acquisition to be accretive to its earnings in the year following the purchase. Further financial terms and details were not disclosed. ODE is an FAA-authorized Part 145 Repair Station focusing on the repair of LCD screens and display modules for aviation displays used in civilian and military aircraft. ODE also holds FAA-PMA authority to supply products that it repairs. ODE is currently located in Irvine, California, and will be relocated to Highland Heights, Ohio where HEICO Flight Support Group's Inertial Aerospace Services FAA/EASA repair station and Flight Specialties PMA units are located.

08:05 EDT ViaSat, Boeing enter next phase of ViaSat-3 satellite integration - Viasat (VSAT) announced the first ViaSat-3 payload module structure, built by Boeing (BA), arrived at Viasat's Tempe, Arizona facility. With the initial payload module structure now at Viasat's facility, Viasat can begin payload integration and testing for the first ViaSat-3 class satellite that is scheduled to provide broadband service over the Americas, starting in 2020. Viasat will build the ViaSat-3 satellite payload, integrate the payload into the Boeing-provided payload module structure and test the integrated payload. Boeing will provide the scalable 702 satellite platform, spacecraft integration and environmental testing, launch vehicle integration and mission operations services. The first two satellites will focus on the Americas and on Europe, Middle East and Africa respectively, with a third satellite planned for the Asia Pacific region, completing Viasat's global service coverage.

08:04 EDT Kroger, Instacart announce national partnership expansion - The Kroger Co. and Instacart announced a national partnership expansion, bringing the signature same-day delivery experience to 75 additional Kroger Family of Stores markets throughout the United States by late October. The expansion will grow Kroger and Instacart's nationwide footprint by 50%, making the delivery service available through more than 1,600 stores.

08:03 EDT Pfizer terminates domagrozumab clinical studies for the treatment of DMD - Pfizer announced that it is terminating two ongoing clinical studies evaluating domagrozumab for the treatment of Duchenne muscular dystrophy: a Phase 2 safety and efficacy study and an open-label extension study. The Phase 2 study, did not meet its primary efficacy endpoint, which was to demonstrate a difference in the mean change from baseline in 4 Stair Climb following one year of treatment with domagrozumab as compared to placebo in patients with DMD. Further evaluation of the totality of evidence including secondary endpoints did not support a significant treatment effect. The decision comes after a thorough review of data available at the time of the primary analysis, which evaluated all study participants after one year of treatment, as well as those participants who were in the trial beyond one year. The studies were not terminated for safety reasons. Pfizer will continue to review the data to better understand any insights they may provide, and will share results with the scientific and patient community. Pfizer is continuing research in DMD and rare neuromuscular diseases, with the goal of bringing therapies to patients with unmet needs. The company's continued partnership with advocacy associations and the community is critical to finding innovative therapies for these diseases. Pfizer has one ongoing clinical trial in DMD with a gene therapy, PF-06939926, which is an investigational, recombinant AAV9 capsid carrying a truncated or shortened version of the human dystrophin gene under the control of a human muscle specific promotor. The Phase 2 double-blind, placebo-controlled, multicenter clinical trial investigated the efficacy and safety of domagrozumab, administered in monthly IV doses, in 121 boys aged 6 to 15 with DMD, regardless of underlying mutation. It was designed as a two-year, placebo-controlled study; all subjects used background corticosteroid therapy. The open-label extension study was designed to evaluate long-term safety and efficacy of domagrozumab.

08:02 EDT Durect receives $5M milestone payment from Indivior - Durect announced that it has received a $5M milestone payment from Indivior Plc, triggered by Indivior's approval of the New Drug Application for PERSERIS in July 2018. On September 26, 2017, DURECT entered into a patent purchase agreement whereby DURECT assigned to Indivior UK Limited, an affiliate of Indivior PLC, certain patents that may provide further intellectual property protection for PERSERIS. In consideration for such assignment, Indivior made an upfront non-refundable payment to DURECT of $12.5M and also agreed to make an additional $5M payment to DURECT contingent upon NDA approval of PERSERIS, which occurred in July 2018. Under the agreement, DURECT is also entitled to receive quarterly earn-out payments that are based on a single digit percentage of U.S. net sales for certain products covered by the assigned patent rights, including PERSERIS. The patent rights include granted patents extending through at least 2026

08:01 EDT Stryker to acquire K2M Group for $27.50 per share, or about $1.4B

07:36 EDT Camping World declares cash dividend of 15.32c per share - Camping World Holdings announced that its Board of Directors declared a cash dividend of 15.32c per share on the company's Class A Common Stock and a cash distribution of 8c per common unit on CWGS Enterprises, LLC's common units. Payment is expected to be made on September 28, 2018, to stockholders of record at the close of business on September 14, 2018. The CWH Class A common stock cash dividend is comprised of a regular quarterly cash dividend of 8c per share funded by the 8c per common unit cash distribution by CWGS Enterprises, LLC to all holders of its common units, and a 7.32c per share special cash dividend representing a portion of excess tax distributions from CWGS Enterprises, LLC.

07:30 EDT Reis, Inc. trading resumes

07:19 EDT Electrolux AB expands smart appliances pact with Google - Electrolux (ELUXY) is expanding its collaboration with Google (GOOG, GOOGL) by integrating connected kitchen products in Europe with the Google Assistant, enabling consumers to control products using voice commands. The voice integration will start with Electrolux smart ovens in early 2019.

07:16 EDT Moody's to acquire Reis, Inc. in all-cash deal valued at about $278M - Moody's (MCO) and Reis, Inc. (REIS) announced that they have entered into a definitive merger agreement for Moody's to acquire all outstanding shares of Reis in an all-cash transaction valued at approximately $278M. The transaction has been approved by the Boards of Directors of both companies. This transaction underscores Moody's Analytics' mission to empower customers to make better, faster financial decisions. The combination of Reis's extensive data and Moody's Analytics' specialized capabilities aims to enhance analytical practices in the CRE market and contribute to the efficiency and liquidity of capital flows. The acquisition further expands Moody's Analytics' network of data and analytics providers in the CRE space, including recent investments in start-ups that apply innovative approaches and new technologies to source data and deliver tools to the market. Under the terms of the merger agreement, Moody's will commence a tender offer to acquire all issued and outstanding shares of Reis common stock for $23.00 per share in cash. The transaction is subject to customary closing conditions and regulatory approvals, including the tender of a majority of the issued and outstanding shares of Reis common stock and clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Moody's has also entered into tender and support agreements with certain Reis management stockholders under which they have committed to accept the tender offer and to tender all of their Reis shares, which represent approximately 18% of Reis's issued and outstanding shares. Following completion of the tender offer, Moody's will acquire all remaining shares of Reis at the same price of $23.00 per share through a second-step merger and Reis will become a wholly-owned subsidiary of Moody's. The closing of the transaction is expected to take place in the fourth quarter of 2018. The transaction will be funded through a combination of cash on hand and commercial paper. Moody's expects the acquisition of Reis to be accretive to earnings per share on a GAAP basis in 2020. On an adjusted EPS basis, which excludes purchase price amortization, the transaction will be accretive in 2019. Moody's continues to expect share repurchases for 2018 to be approximately $200 million, subject to available cash, market conditions and other capital allocation decisions.

07:13 EDT Moody's to acquire Reis, Inc. in all-cash deal valued at about $278M

07:09 EDT Patterson Companies began settlement talks for In re Dental Supplies Litigation - In August 2018, Patterson Companies commenced settlement discussions with the plaintiffs in the In re Dental Supplies Litigation matter. Based upon such discussions, although Patterson Companies has not yet entered into a definitive settlement agreement and any such agreement would be subject to court approval, Patterson Companies has established a pre-tax reserve for this matter of $28.3M. The company anticipates the execution of a settlement agreement and the submission of such agreement to the court for approval.

07:08 EDT Easterly Acquisition and Sirius International Insurance amend merger agreement - Easterly Acquisition Corp. and Sirius International Insurance Group, a global multi-line insurance and reinsurance group, have executed an amendment to the agreement and plan of merger for the business combination of Sirius Group with Easterly, pursuant to which Easterly will merge with and become a wholly-owned subsidiary of Sirius Group and Sirius Group will become a publicly listed company. The amendment, among other things, modifies the date on which the exchange ratio, used to calculate the number of Sirius Group common shares to be issued in the Merger, is determined. Easterly's common stock will be exchanged for Sirius Group's common shares at a value equal to 1.05x Sirius Group's diluted GAAP book value per share as of September 30, instead of as of June 30. Sirius Group has also entered into subscription agreements with affiliated funds of Gallatin Point Capital, The Carlyle Group, Centerbridge Partners and Bain Capital Credit pursuant to which the investors have committed to purchase $213M of Series B preference shares and common shares in a private placement, which amount may be decreased to $111M at Sirius Group's option. In addition, the investors will receive warrants that are exercisable for a period of five years after the issue date at a strike price equal to 125% of the Merger Price. Proceeds from the private placement will be used by Sirius Group to redeem all outstanding Series A preference shares, and the remainder for general corporate purposes. The merger is expected to close at the end of Q3 or beginning of Q4.

07:04 EDT Eagle Pharmaceuticals concludes enrollment of second Ryanodex study - Eagle Pharmaceuticals announced completion of enrollment of the Company's second clinical study to further evaluate the safety and efficacy of Ryanodex for the treatment of exertional heat stroke, or EHS, an investigational new indication for the product. The randomized and double-blinded study was conducted at four Emergency Departments in the Makkah region of Saudi Arabia during the 2018 Hajj Season, which took place August 19-24, 2018. The study enrolled seven severely ill EHS patients. Based on a preliminary analysis of the data, EHS patients who received Ryanodex plus Standard of Care, or SOC, which consists of body cooling by physical methods and supportive measures, showed an additive benefit compared to patients receiving cooling only. The two treatment groups had comparable baseline characteristics, including severe hyperthermia and severe neurological dysfunction. Patients randomized to Group A had a mean baseline core body temperature of 107.8 degrees F and mean Glasgow Coma Scale, or GCS, score of 5. Similarly, patients in Group B had a mean core body temperature of 107.2 degrees F and mean GCS score of 5 at baseline. A GCS score of 5 represents severe brain injury. Preliminary evaluation of the data show that of the four patients dosed with Ryanodex, two had restoration of neurological functioning, and another patient showed substantial improvement over the course of the study. The fourth patient, who had an initial core body temperature of 112.1 degrees F, remained unchanged. In contrast, the SOC group had three patients. One patient had restoration of neurological functioning, one remained with severe impairment and one subject showed further deterioration of neurological functioning.

07:04 EDT Signet Jewelers up 15% after Q2 results top estimates, FY19 outlook raised - In pre-market trading, shares are up 15.32% to $63.02.

07:01 EDT Bristol-Myers' application for Sprycel for leukemia accepted by FDA - Bristol-Myers' supplemental Biologics License Application for Sprycel in combination with chemotherapy for the treatment of pediatric patients with newly diagnosed Philadelphia chromosome-positive acute lymphoblastic leukemia has been accepted by the FDA. The FDA action date is December 29. The application is based on data from an ongoing Phase 2 trial evaluating the addition of Sprycel to a chemotherapy regimen modeled on a Berlin-Frankfurt-Munster high-risk backbone in pediatric patients with newly diagnosed Ph+ ALL.

06:58 EDT Signet Jewelers sees FY19 CapEx $185M, up from prior view of $165M-$185M

06:57 EDT Signet Jewelers sees net cost savings of $85M-$100M in FY19 - In March of 2018, the Company announced a three-year Signet Path to Brilliance transformation plan to reposition the Company to be a share gaining, OmniChannel jewelry category leader. The Company continues to expect its transformation plan to deliver $200 million - $225 million of net cost savings over the next three fiscal years. The Company's estimates for pre-tax charges over the next three fiscal years is a range of $170 million - $190 million, of which $80 million - $95 million are expected to be cash charges. In Fiscal 2019, the Company continues to expect net costs savings of $85 million - $100 million, with further incremental net cost savings of $115 million - $125 million by the end of the three-year program. The majority of the Fiscal 2019 savings are expected to be realized in the second half of the fiscal year with approximately one third achieved year to date. In Fiscal 2019, the Company's preliminary estimates for pre-tax charges related to cost reduction activities and inventory charges ranges from $125 million - $135 million, of which $40 million - $45 million are expected to be cash charges.

06:54 EDT Signet Jewelers CEO says 'encouraged by our improving year-to-date performance' - Virginia Drosos, CEO, commented, "While it is still early in our journey, we are encouraged by our improving year-to-date performance as we execute against our Path to Brilliance transformation plan. During the second quarter, we continued to see stabilization in same store sales, and we remain confident that we have the right strategies in place to continue to drive operational improvement over the long-term. To reflect our improved second quarter performance, we are modestly raising our revenue and earnings guidance for the year. For the fourth quarter, however, where a vast majority of our annual operating profit is generated, we are remaining appropriately cautious in our outlook as many of our Path to Brilliance initiatives are being launched later in the year." Drosos continued, "Another highlight of the second quarter was the completion of our transition to a fully outsourced credit structure. Our teams are now able to fully focus on optimizing performance within the new credit structure which will be critical to driving a successful holiday season. As a reminder, transaction proceeds from the full outsourcing of credit over the past year were $1.4 billion, which enabled the company to repurchase 25% of its outstanding shares."

06:51 EDT Signet Jewelers raises FY19 outlook

06:48 EDT Vodafone Hutchison Australia, TPG Telecom to merge - Vodafone Group announces that Vodafone Hutchison Australia and TPG Telecom Limited have agreed a merger to establish a new fully integrated telecommunications operator in Australia. Vodafone and Hutchison Telecommunications Limited will each own an economic interest of 25.05% in MergeCo, with TPG shareholders owning the remaining 49.9%. The Board of MergeCo will comprise: David Teoh, as Chairman, Inaki Berroeta as Managing Director and CEO, existing TPG directors Robert Millner and Shane Teoh, two nominees of Vodafone, two nominees of HTAL, and two new independent directors. MergeCo will be listed on the Australian Securities Exchange and called TPG Telecom Limited. There are no changes currently planned to any of the existing brands of either VHA or TPG. The merger is expected to generate substantial cost synergies from the combination of two complementary networks, rationalisation of duplicated costs and economies of scale. Additionally, the combined entity will benefit from revenue synergies through cross-selling of products across both VHA and TPG's corporate and consumer customer bases. The agreed merger ratio implies an enterprise value for VHA of A$7.5B. This is equivalent to valuing VHA at 7.4x EV/LTM June 2018 EBITDA and 19.2x EV/LTM June 2018 operating free cash flow. MergeCo will have a pro forma enterprise value of approximately A$15.0B, revenue of over A$6.0 billion, EBITDA of over A$1.8B and OpFCF of A$0.9B. Approximately A$2.0B of VHA's existing debt will be contributed to MergeCo, which will have pro-forma leverage of approximately 2.2x net debt/EBITDA and an expected strong investment grade credit profile. The strong cash generation of the combined entity is expected to support an attractive dividend. It is intended that MergeCo will pay a dividend of at least 50% of net profit after tax adjusted for one-off restructuring costs and certain non-cash items and have a medium-term target leverage range of 1.5-2.0x net debt/EBITDA. Vodafone's interest in MergeCo will be accounted for under the equity method. Vodafone and HTAL's shareholdings in MergeCo, and the remaining VHA net debt of approximately A$4.8B that will not be contributed into the merged company, will primarily be held through an entity jointly owned by the Vodafone Group and HTAL. Debt held through this entity will be serviced by dividends from MergeCo, and will not be consolidated by Vodafone or HTAL. Vodafone will provide a guarantee on approximately A$2.4B of this debt, lower than the approximately A$3.3B guarantee that Vodafone currently provides for VHA's debt. Vodafone, HTAL and David Teoh have entered into a 24 month standstill arrangement in relation to their shareholdings in the combined business. In parallel to the merger agreement, TPG and VHA have signed a separate Joint Venture Agreement. The scope of the joint venture is to acquire, hold and licence 3.6 GHz spectrum. The Government is auctioning 125 MHz of 3.6 GHz band spectrum, with the auction expected to commence in late November 2018. The joint venture will register as a participant in the auction. In addition, the parties will negotiate with the aim of expanding the business of the joint venture in future, including to acquire future spectrum licenses and/or facilitate various forms of efficient spectrum and network sharing including a shared 5G Radio Access Network. The Joint Venture Agreement is ongoing, and will not terminate if the merger fails to proceed. It is anticipated that the merger will complete in 2019, subject to approval from TPG shareholders and regulatory authorities. Reference Link

06:31 EDT Superior Drilling expands operations to Abilene, Texas - Superior Drilling has entered into a commercial lease related to property in Abilene, Texas to support the manufacture and repair the company's product lines and enhance its ability to service customers.

06:13 EDT GulfMark Offshore: S-4 filed in connection with proposed merger with Tidewater - GulfMark Offshore announced the public filing by Tidewater of a joint proxy statement/registration statement on Form S-4 with the U.S. SEC in connection with the definitive merger agreement unanimously approved by the boards of directors of both companies for GulfMark to combine with Tidewater in an all-stock transaction. While this registration statement has not yet become effective and the information contained therein is subject to change, it provides important information about the proposed merger. The transaction is expected to close in the fourth quarter of 2018, subject to customary closing conditions.

06:09 EDT Insys Therapeutics' Epinephrine nasal spray granted Fast Track designation - Insys Therapeutics announced that the FDA has granted Fast Track designation to the company's epinephrine nasal spray as an investigational treatment for anaphylaxis, an acute, life-threatening allergic reaction requiring urgent treatment. Preliminary results from a pharmacokinetic study involving 60 people with seasonal allergies demonstrated rapid drug absorption with the epinephrine nasal spray and showed that the bioavailability of the company's novel, proprietary formulation of epinephrine delivered intranasally was similar to that of intramuscular injection with EpiPen.

06:08 EDT Campbell Soup reports Q4 gross margin decreased from 35.9% to 29.2% - Gross margin decreased from 35.9 percent to 29.2 percent. Excluding items impacting comparability, adjusted gross margin decreased 5.6 percentage points to 30.6 percent including a 3-point negative impact from the recent acquisitions. The remaining decline in adjusted gross margin was driven primarily by cost inflation and higher supply chain costs, costs associated with the voluntary recall of flavor-blasted Goldfish crackers on July 23, 2018, unfavorable mix and higher promotional spending, partly offset by productivity improvements and the benefits from cost savings initiatives.

06:07 EDT Campbell Soup CEO says 'fiscal 2018 was a challenging year' - Keith McLoughlin, Campbell's interim President and CEO said, "Fiscal 2018 was a challenging year for Campbell. These results and our outlook for fiscal 2019 reinforce the need for the significant actions we announced this morning as part of our comprehensive, Board-led strategy and portfolio review. We believe these actions will put us on a path to create sustainable shareholder value."

06:05 EDT Campbell to pursue divestitures of non-core businesses - Campbell Soup announced actions it is taking as part of its board-led strategy and portfolio review to "improve performance and drive shareholder value." The actions include: Focusing the company on two distinct businesses, Campbell Snacks and Campbell Meals and Beverages, in its core North American market; Pursuing the divestitures of non-core businesses to focus and improve the company's portfolio; proceeds will be used to reduce debt; and, increasing its cost savings target to $945M by fiscal 2022, including the expected Snyder's-Lance savings. Campbell's interim President and CEO Keith McLoughlin said, "Campbell's Board of Directors considered a full slate of strategic options, including optimizing the portfolio, divesting businesses, splitting the company, and pursuing a sale. The Board concluded that, at this time, the best path forward to drive shareholder value is to focus the company on two core businesses in the North American market with a proven consumer packaged goods business model. Importantly, the Board remains open and committed to evaluating all strategic options to enhance value in the future. Our plan will build upon our existing strengths. Our new leadership team will concentrate on significantly improving operational discipline through a rigorous management model that aligns the enterprise from strategy through execution. We are moving forward with a sense of urgency to complete these changes in fiscal 2019, setting the foundation for sustainable, profitable growth in fiscal 2020 and beyond. The Board and management team are committed to deleveraging the company, retaining our investment grade credit rating and maintaining our dividend. We will pursue further actions in addition to those announced today to optimize our portfolio and performance."

05:27 EDT Tencent, Square Enix enter into strategic alliance - Square Enix announced that the company and Tencent Holdings have signed a letter of intent to create a strategic alliance between the high-quality content provider and the mega internet service provider. Square Enix Group is making tireless efforts to offer unique content experiences to its fans all over the world through multifaceted business deployment. Square Enix Group will be accelerating these business development efforts to enhance its content services worldwide through this strategic alliance with Tencent Group. Outcomes of this newly created alliance include the establishment of a joint-venture company, co-development of AAA titles based on new intellectual properties, the licensing of existing intellectual properties, and more. Further details of the strategic alliance will be announced at a later date as progress is made.

05:17 EDT Vertex, Genomics plc establish collaboration - Vertex Pharmaceuticals and Genomics plc announced a three-year collaboration, extendable to five years, to use human genetics and machine learning to improve discovery of targets for precision medicines, and to advance understanding of the clinical impact of human genetic variation and patient stratification in diseases with significant unmet need. The goal of the collaboration is to further advance Vertex's efforts to develop transformative precision medicines for people with serious diseases. Scientists from Vertex and Genomics will work closely together to incorporate their deep understanding of human genetics into research and development related to target discovery and target validation in certain diseases. Both companies will also have the opportunity to suggest additional diseases for the collaboration, where human genetic evidence may be particularly powerful. In addition to funding the resources committed by Genomics to the collaboration, Vertex will make milestone and royalty payments to the company for novel targets resulting from the collaboration that are taken through clinical development. Dr. Altshuler will also join the Genomics plc board. Additionally, Vertex has made a GBP 10.5M equity investment in Genomics plc as part of its GBP 25M Series B funding round.

05:11 EDT KVH Industries enters partnership with Singtel - Singtel and KVH Industries announced a partnership to provide shipping companies a seamless broadband satellite service with KVH's mini-VSAT BroadbandSM satellite connectivity to help accelerate the digital transformation of the maritime industry across the Asia Pacific region. Through this collaboration, Singtel will provide its maritime customers with KVH's product and service offerings, including AgilePlans, a subscription-based connectivity solution for commercial fleets. This all-inclusive, no-commitment offering includes KVH's global connectivity service, VSAT hardware, and curated content with free installation in selected ports and zero maintenance costs.