Stockwinners Market Radar for February 20, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:08 EDT Five Prime doses first patient in phase 1B trial of FPA150 - Five Prime Therapeutics announced that it initiated patient dosing in the Phase 1b dose expansion portion of the Phase 1a/1b clinical trial of FPA150, a first-in-class immuno-oncology antibody that targets B7-H4. The objective of the Phase 1b dose expansion is to evaluate the safety, tolerability, pharmacokinetics and potential preliminary clinical benefit of FPA150 monotherapy in patients with breast, ovarian and endometrial cancers that over-express B7-H4. A subgroup of patients in the Phase 1b portion will undergo pre- and on-treatment biopsies to assess the pharmacodynamic effects of FPA150 on the tumor and the tumor microenvironment, including changes in markers of tumor immune infiltrates and cytokine levels. Endpoints for the Phase 1b portion include objective response rate, duration of response and progression-free survival.

18:37 EDT Pan American Silver sees 2019 silver production 26.5M-27.5M ounces

18:23 EDT SPDR Gold Shares holdings rise to 794.50MT from 792.45MT - This is the first increase in holdings since January 29th.

18:05 EDT NetEase declares Q4 quarterly dividend of 48c vs 45c in Q3 - The dividend is expected to be paid on March 15, 2019 to shareholders of record as of the close of business on March 8, 2019.

18:03 EDT Kearny Financial raises quarterly dividend to 6c per share from 5c - The dividend is payable to stockholders of record as of March 6, 2019 on March 20, 2019.

17:49 EDT Copa Airlines picks GE Aviation for digital records management - Copa Airlines (CPA) has selected GE Aviation's (GE) AirVault Digital Records Management System for its fleet of nearly 100 Boeing (BA) 737 and Embraer (ERJ) 190 aircraft. Integration is currently taking place with Copa Airlines cross-fleet maintenance management system. The system enables connectivity between the airline's maintenance systems, with the capability of capturing the relevant data to connect with MRO's and lessors. The AirVault digital records management system manages more than seven billion aircraft maintenance records with one million new updates per day across a global aircraft MRO ecosystem. This expands the historic engines relationship between GE Aviation and Copa Airlines to support the airlines digital transformation.

17:31 EDT Teleflex awarded SURPASS deal with Premier - Teleflex (TFX) has been awarded a group purchasing agreement for SURPASS with Premier (PINC). Effective January 1, 2019, the new agreement offers Teleflex's broad range of respiratory disposable products to Premier members.

17:28 EDT Akorn 'strongly contests' Fresenius' proposed amended claims - Akorn, Inc. (AKRX) said that it "strongly contests Fresenius' (FSNUY) proposed amended claims filed earlier today. Akorn believes these claims are meritless and overreaching. Akorn denies the allegations and will vigorously defend itself in this litigation, while continuing to focus on advancing its pipeline, strengthening its business and developing a strategic plan for improving financial performance and long-term shareholder value."

17:20 EDT Macquarie Infrastructure sees FY19 EBITDA $610M-$635M vs. $601.9M last year - Sees FY19 free cash flow $400M-$445M vs. $439.5M last year

17:15 EDT Heritage Commerce director Robert Moles sells almost 50K shares - Heritage Commerce director Robert Moles disclosed in a filing that he had sold 49,900 shares of company stock at an average price of $13.42 per share between February 11 and February 12. The total transaction value was $669,433.

17:08 EDT Sturm, Ruger declares Q4 dividend of 28c per share vs. 21c in Q3 - The dividend for shareholders of record as of March 15, 2019 is payable on March 29, 2019. This dividend varies every quarter because the company pays a percentage of earnings rather than a fixed amount per share.

17:04 EDT Valvoline enters quick lube joint venture in China with The Master Too - Valvoline announced that it has entered into a joint venture with Chinese quick-lube services provider The Master Too to co-develop a quick lube model in China. The joint venture plans to operate quick-lube service centers in the Shandong province in eastern China. The joint venture's first store opened on February 18 in Qingdao, China.

17:03 EDT Emclaire Financial increases quarterly dividend 3.6% - The board of Emclaire Financial Corp, the parent holding company of the Farmers National Bank of Emlenton, declared a quarterly cash dividend on February 20, of 29c per common share payable on March 22 to shareholders of record on March 4. The 29c per share quarterly dividend represents a 3.6% increase from the 28c per common share dividend declared and paid each quarter during 2018. This quarterly dividend reflects an annualized dividend yield of 3.8% based on the stock's closing price of $30.40 per share on February 19.

16:55 EDT Alexandria Real Estate president Dean Shigenaga sells over $2M in stock - Alexandria Real Estate president Dean Shigenaga disclosed in a filing that he had sold 15,000 shares of company stock at an average price of $134.47 on February 15. The total transaction value was $2,017,050.

16:48 EDT Gran Tierra acquires strategic assets in Putumayo, Llanos Basins - Gran Tierra Energy announced it has entered into agreements with private companies to acquire the Vendors': Working interest in and operatorship of the Suroriente Block, which would increase Gran Tierra's WI in Suroriente from 15.83% to 52%; 50% WI in and operatorship of the Putumayo-8 Block, which is contiguous with Suroriente and Gran Tierra's PUT-31 Block; 100% WI in the Llanos-5 Block, which is contiguous with Gran Tierra's LLA-1, -10 and -70 Blocks, representing a new core area for the company. The purchase price for this acquisition is $104.2M, subject to certain adjustments and the satisfaction of certain customary conditions.

16:40 EDT Coeur Mining sees FY19 gold output 334K-372K oz vs 359.5K oz in FY18 - Sees FY19 silver output 12.2M-14.7M oz vs. 12.8M in FY18

16:38 EDT TimkenSteel sees FY19 capital expenditures approximately $50M

16:36 EDT Coeur Mining reports Q4 gold production 92.5K oz vs. 118.8K oz last year - Reports Q4 silver production 3.5M oz vs. 3.7M oz last year

16:34 EDT Silvercorp says shares 'undervalued,' commences share repurchase program - Silvercorp Metals announced a normal course issuer bid to acquire up to 8.48M common shares, representing approximately 5% of the common shares issued and outstanding as of February 5. The repurchase program will run from February 25, 2019 to February 24, 2020. The company is taking this action because it believes that prevailing market conditions have resulted in Silvercorp's shares being undervalued relative to the immediate and long term value of Silvercorp's portfolio of producing properties in China and other strategic investments.

16:33 EDT Synopsys sees FY19 operating cash flow ~$700M

16:25 EDT Career Education expects 'significant growth' in Q1 AIU enrollment - Career Education said, "The Company expects AIU's new student enrollments to experience significant growth in the first quarter of 2019 which will more than offset this fourth quarter decline and is further expected to contribute to growth for the full year 2019."

16:22 EDT Energy Transfer LP reports Q4 adjsuted EBITDA $2.67B, up 29% from last year

16:21 EDT Cimarex Energy reports Q4 volumes averaged 251.3 MBOE per day - Driven by solid execution, total company volumes for the fourth quarter averaged 251.3 thousand barrels of oil equivalent per day. Oil production averaged 79,904 barrels per day, up 29% from the same period a year ago and up 25% from third quarter 2018 levels.

16:19 EDT TechnipFMC estimates $280M settlement for global anticorruption investigations - TechnipFMC said in its earnings release, "As previously disclosed, we are cooperating with the U.S., Brazilian, and French authorities in their investigations of potential violations of anticorruption laws relating to historical projects in Brazil, Equatorial Guinea, and Ghana, and Unaoil contracts. We have been informed that these authorities have been coordinating their investigations, which could result in a global resolution. These matters have progressed to a point where a probable estimate of the aggregate settlement amount with all authorities is $280 million for which we have taken a provision in the fourth quarter and year ended December 31, 2018. These matters involve negotiations with law enforcement authorities in three separate jurisdictions, and there is no certainty that a global settlement will be reached or that settlement will not exceed the provision."

16:19 EDT AXT Inc. CEO says 2018 a 'mixed year' - "2018 was a mixed year for AXT," said Morris Young, chief executive officer. "Global economic conditions were made more difficult by the uncertainty of trade tensions, and spending in certain end markets took a pause, impacting our expected growth and profitability for the year. Despite these challenges, our indium phosphide revenue set another record in 2018, and we saw growth in a host of new gallium arsenide applications that further suggest this material is entering its next period of expansion. In 2018, AXT achieved every major milestone established in the relocation of our gallium arsenide and germanium product lines. Although Q1 2019 is challenging, as we look ahead we are encouraged that the tone of customer comments includes an expectation for market recoveries later this year. We believe our competitive position remains strong, and that this will enable us to return to growth when the markets recover. In the meantime, we intend to continue the relocation, strengthen our business and drive greater efficiencies in our model."

16:18 EDT QEP Resources up 1.5% after commencing review of strategic alternatives

16:16 EDT QEP Resources terminated deal to sell assets to Vantage - QEP Resources (QEP) announced that, given the deterioration in commodity prices and that it was unlikely that the conditions to closing would be satisfied, the company has agreed with Vantage Acquisition Operating Company, a wholly owned subsidiary of Vantage Energy Acquisition Corp. (VEAC), to terminate the definitive agreement to sell its assets in the Williston Basin to Vantage. QEP will continue to operate and develop its assets in the Williston Basin, including the company's South Antelope and Fort Berthold leaseholds.

16:14 EDT QEP Resources commences review of strategic alternatives - QEP Resources announced that its board has commenced a comprehensive review of strategic alternatives to maximize shareholder value, which could result in a merger or sale of the company or other transaction involving the company or its assets. QEP intends to engage in discussions with a variety of parties that have expressed interest in a potential transaction, including Elliott Management Corporation. QEP cautions that there can be no assurance that any transaction will be approved or consummated. The company does not intend to disclose developments relating to its strategic review unless and until the board has approved a specific agreement or transaction or has terminated its review of strategic alternatives.

16:11 EDT Rogers Corporation sees FY19 CapEx $50M-$60M

16:07 EDT nLight expands fiber laser portfolio with shipment of 12kW fiber laser - nLIGHT announced it has begun production shipments of its 12kW fiber lasers. Built on nLIGHT's next generation semiconductor laser technology and advanced fiber laser architecture, the CFL-12000 is nLIGHT's latest product for the ultra-high-power industrial laser market. "This increase in power provides the shop floor with immediate benefits in speed and efficiency, helping end users increase their production levels and improve profitability," states Jake Bell, General Manager for Industrial Lasers. "We are excited about the strong customer interest in our high-power products and the new markets they allow us to serve." With this latest addition, nLIGHT now offers a complete range of continuous wave fiber lasers with output power ranging from 500W to 12kW. Key advantages available standard in all nLIGHT fiber lasers include unique hardware protection against back reflections to enable uninterrupted processing of reflective metals, the industry's highest modulation rate and power stability for advanced materials processing, and proven reliability in harsh industrial environments for higher uptime.

16:03 EDT Qualcomm Snapdragon 855 mobile platform enables Samsung Galaxy S10 line-up - Qualcomm Technologies, a subsidiary of Qualcomm, announced that its latest 8 series mobile platform is powering Samsung Electronics' (SSNLF) latest and most cutting-edge flagship smartphones, the Samsung Galaxy S10, S10+, S10e, S10 5G, for select regions. The Samsung Galaxy S10 line-up is powered by the Qualcomm Snapdragon 855 Mobile Platform, which supports multi-gigabit connectivity and industry-leading on-device artificial intelligence (AI) to usher in a new decade of flagship mobile devices. The S10 5G is powered by Snapdragon 855 combined with the Snapdragon X50 modem and supports muti-gigabit 5G connectivity.

15:57 EDT Sanchez Energy trading resumes

14:56 EDT Marcus announces affiliate partnership for Movie Tavern with National CineMedia - National CineMedia and Marcus Theatres, a division of The Marcus Corporation, announced that they have entered into a long-term cinema advertising affiliate partnership agreement for Movie Tavern by Marcus Theatres. Movie Tavern had previously been part of NCM's national theater network under VSS-Southern Theatres, LLC before being acquired by Marcus Theatres earlier this year.

14:47 EDT Samsung unveils Galaxy Fold - Samsung Electronics (SSNLF) unveiled the Galaxy Fold, new foldable device creating a new mobile category. Galaxy Fold features the world's first 7.3-inch Infinity Flex Display, which folds into a compact device with a cover display. "Today, Samsung is writing the next chapter in mobile innovation history by changing what's possible in a smartphone. Galaxy Fold introduces a completely new category that unlocks new capabilities never seen before with our Infinity Flex Display." said DJ Koh, President and CEO of IT & Mobile Communications Division, Samsung Electronics. "We created Galaxy Fold for those that want to experience what a premium foldable device can do, beyond the limitations of a traditional smartphone." Samsung said that the device is a smartphone and tablet "folded into one" and includes new display materials, a new hinging mechanism, and new design elements. Galaxy Fold will be available in the U.S. through AT&T (T) and T-Mobile (TMUS) in the second quarter of 2019. Suggested retail price for Galaxy Fold in the U.S. starts at $1,980.00.

14:44 EDT Northern Dynasty says Pebble Project Draft Environmental Impact Statement posted - Northern Dynasty Minerals announces that the US Army Corps of Engineers has posted on its website the Draft Environmental Impact Statement for southwest Alaska's Pebble Project, as required under the National Environmental Policy Act. "Our preliminary review of the DEIS shows no major data gaps or substantive impacts associated with a mine at the Pebble site. We see no significant environmental challenges that would preclude the project from getting a permit and believe this shows Alaska stakeholders that there is a clear path forward for this project," said Pebble Limited Partnership CEO Tom Collier. "The DEIS is an important milestone and positive development for the Pebble Project," said Ron Thiessen, CEO of Northern Dynasty.

14:20 EDT Fresh Del Monte board suspends quarterly cash dividend - Fresh Del Monte Produce announced that its board of directors has determined to suspend the company's quarterly cash dividend in light of the terms of the company's credit facility. Yesterday, Fresh Del Monte reported an adjusted loss per share of (43c) in the fourth quarter of 2018, compared with an adjusted loss per share of (8c) in the fourth quarter of 2017. Chairman and CEO Mohammad Abu-Ghazaleh stated with the earnings report: "As we enter 2019, we continue to focus sharply on implementing our operating strategies, and taking aggressive action to transform our company to meet consumer demand for healthy and convenient food products."

14:00 EDT Fresh Del Monte trading halted, news pending

13:18 EDT Owens & Minor halted for volatility after paring losses on Reuters sale report

13:17 EDT Barrick Gold confirms commitment to Chile as it reviews LATAM strategy - The company said, "Barrick Gold Corporation is reviewing a range of new exploration opportunities and re-evaluating its existing operations and projects in Chile, the company's new president and CEO Mark Bristow said, adding Barrick's Chilean assets were an important part of its global portfolio and noting that the company has recently approved an investment to increase productivity at its jointly owned Zaldivar copper mine. Over the past 10 years, Barrick has spent some $8B in Chile on exploration, development, royalties and taxes, wages, and payments to local suppliers. In the country to review the Company's LATAM strategy with its executive team, he said the studies on the Norte Abierto copper and gold joint venture project were advancing, while the Alturas project was making progress. Alturas is located in a very prospective region, and Barrick is currently exploring for further discoveries there.As far as Pascua-Lama was concerned, he said the focus was on resolving legal, environmental and other issues along with a technical review of the project parameters and future potential. As part of this work, Barrick has conducted extensive geohydrological and geochemical studies for a water management plan through which the natural water flow path can be restored. 'Chile is an investor-friendly country, with a significant mineral endowment, and which encourages the development of mining projects. We believe there are exciting opportunities here, especially in the El Indio region, and we shall be pursuing this in line with our strategy of creating value for all our stakeholders, including the governments, and people, of our host countries,' Bristow said."

13:14 EDT Google launches hybrid cloud services platform in beta - According to a blog posting earlier from, VP, Google Cloud, Eyal Manor: "If you've ever thought about adopting a hybrid cloud, you know it usually means committing to a cloud vendor and purchasing new hardware-with no easy way of integrating your existing on-premises investments. At Google Cloud, we are taking a different approach, with a software-based, hybrid offering that brings Google Cloud services into your on-prem infrastructure using the power of Kubernetes and Istio to meet you where you are. At Google Cloud Next last year, we introduced our vision for Cloud Services Platform, CSP, and we are excited to announce it's available in beta today. CSP is a modern platform that simplifies building, running, and managing services both on-prem and in the cloud. Built on open APIs, CSP is a less disruptive and more compliant approach than competing hybrid offerings." Reference Link

12:45 EDT Xcel Energy increases dividend to 40.5c from 38c per share - The board of directors of Xcel Energy raised the quarterly dividend on the company's common stock from 38c per share to 40.5c per share, which is equivalent to an annual rate of $1.62 per share. The dividends are payable April 20 to shareholders of record on March 15, 2019. "We are pleased to announce a 10c per share, or 6.6% increase in the common dividend, on an annualized basis, which reflects the strength of our balance sheet and our earnings growth profile. We recognize that strong dividend growth coupled with transparent earnings growth support our commitment to provide shareholders an attractive total return profile," said Ben Fowke, chairman, president, and CEO of Xcel Energy.

12:37 EDT Houghton Mifflin Harcourt launches HMH Audio in-house audio production studio - Houghton Mifflin Harcourt Books & Media today announced the launch of HMH Audio. "The audio imprint will publish audiobook editions of many of HMH's front list adult and young reader titles along with select backlist, beginning in fall 2019," the company said in a statement.

12:25 EDT New York Times publisher responds to Trump's 'enemy of the people' tweet - After President Trump again called the New York Times a "true ENEMY OF THE PEOPLE!" in a tweet this morning, the paper's publisher A.G. Sulzberger issued a response, which reads in part, "The phrase 'enemy of the people' is not just false, it's dangerous. It has an ugly history of being wielded by dictators and tyrants who sought to control public information. And it is particularly reckless coming from someone whose office gives him broad powers to fight or imprison the nation's enemies. As I have repeatedly told President Trump face to face, there are mounting signs that this incendiary rhetoric is encouraging threats and violence against journalists at home and abroad. Through 33 presidential administrations, across 167 years, The New York Times has worked to serve the public by fulfilling the fundamental role of the free press. To help people, regardless of their backgrounds or politics, understand their country and the world. To report independently, fairly and accurately. To ask hard questions. To pursue the truth wherever it leads. That will not change." Shares of New York Times are down 5c to $31.90 in midday trading. Reference Link

12:18 EDT Hershey would consider debt to EBITDA ratio over 2.0 times for acquisition - Hershey in conference presentation slides said it is "committed" to a dividend payout ratio of at least 50%. The company added that it would consider a net debt to adjusted EBITDA ratio of greater than 2.0 times for a strategic acquisition.

12:09 EDT Hershey reaffirms 2019 guidance at CAGNY Conference - Hershey said that in a presentation today at the Consumer Analyst Group of New York conference, its CEO Michele Buck "reviewed the progress the company has made against its strategic plans and the company's 2019 imperatives to drive sustainable, profitable growth and long-term shareholder value." During the presentation, Buck reaffirmed Hershey's 2019 financial expectations for net sales and earnings per share-diluted growth previously provided in its January 31 earnings release. "Full-year reported net sales are expected to increase in the 1% to 3% range, full-year reported earnings per share-diluted are expected to increase 3% to 6% and full-year adjusted earnings per share-diluted are expected to increase 5% to 7%," Hershey said in a statement.

12:03 EDT Dr. Reddy's announces re-launch of buprenorphine, naloxone sublingual film - Dr. Reddy's Laboratories announced the re-launch of its Buprenorphine and Naloxone Sublingual Film, 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg, a therapeutic equivalent generic version of Suboxone sublingual film, in the United States market. The re-launch comes on the heels of a favorable decision issued by the United States Court of Appeals for the Federal Circuit concluding that Indivior had not shown that it is likely to succeed on its claim that Dr. Reddy's product infringes U.S. Patent No. 9,931,305. The Federal Circuit's decision vacates the District Court's preliminary injunction that had prohibited Dr. Reddy's from selling its generic version of Suboxone sublingual film. The Federal Circuit's decision went into effect yesterday. As a result of the Federal Circuit's ruling, Dr. Reddy's has resumed shipping of the product. "We are pleased with the decision of the appellate court in Dr. Reddy's favor, vacating the preliminary injunction that had prevented Dr. Reddy's from continuing to market this important drug to the public," explains Marc Kikuchi, Chief Executive Officer, North America Generics. "Dr. Reddy's is committed to providing affordable treatment options for opioid use disorder and addiction. We look forward to helping patients and our communities in the United States who are impacted by the opioid epidemic."

12:00 EDT IDT Corp falls -9.1% - IDT Corp is down -9.1%, or -65c to $6.49.

12:00 EDT Intelsat rises 12.8% - Intelsat is up 12.8%, or $2.76 to $24.38.

12:00 EDT LSC Communications rises 14.6% - LSC Communications is up 14.6%, or $1.21 to $9.50.

11:56 EDT Turkcell trading resumes

11:26 EDT Altria Group backs long-term adjusted EPS growth at 7%-9% annual rate - In comments being presented at CAGNY, Altria said its long-term financial goals remain: to grow adjusted diluted earnings per share at an average annual rate of 7% to 9%; and to maintain a dividend payout ratio target of approximately 80% of adjusted diluted EPS. Says that during 2018, the company concluded that JUUL "had not only become the retail share leader in the U.S. e-vapor category, but that no other brand was close to it in share or future growth potential." Says believes concerns around cannabilization risk and effect on Marlboro from Juul deal are overstated. Projects the investment in Juul to generate an after-tax return exceeding its current weighted-average cost of capital in 2023. Says remains "fully" committed to the success of IQOS in the U.S. Says encourages the FDA to take action industry-wide, specifically in the form of banning retail and vape store sales of all non-traditional flavors until the youth issue is addressed. Believes a menthol ban would be inappropriate and subject to judicial challenge. For 2019, continues to expect earnings growth to come in the last three quarters of the year with a mid-single digit decline in the first quarter.

11:05 EDT Magellan Health jumps 10% after Reuters says company to explore potential sale

10:52 EDT J.M. Smucker sees FY20 outlook helped by pet prices, hurt by peanut butter price - In slides for its Consumer Analyst Group of New York, or CAGNY, Conference presentation, J.M. Smucker said it sees its FY20 outlook being negatively impacted by a peanut butter price decline and the divestiture of its U.S. baking business and helped by pet price increases and innovation. The FY20 impact of the divested business is seen at 25c per share, the slides stated.

10:47 EDT Turkcell trading halted, news pending

10:41 EDT Honeywell says UOP has been 'very disciplined' on the cost side - Says Honeywell UOP invented 31 out of 36 refining technologies today. Says 40% of $2.8B revenue came from offerings introduced in the last five years. Says Honeywell Process Solutions has now added Smart Energy. Says Smart Energy gives another growth trajectory and balances out portfolio. Says saw growth in short-cycle throughout the year and sees it continuing for the next few years. Says Honeywell UOP sees a very normal order pipeline coming out of 2019. Says customers are being a little more disciplined and contemplating higher-quality projects. Says very confident in value proposition and likes the momentum the company is seeing. Says believes there is significant upside for self-digitization of UOP. Says HPS 'can weather a lot of things" and is well-positioned. Says UOP is 'right in line' with segment guidance. Comments taken from the Barclays Industrial Select Conference 2019.

10:21 EDT Fluor awarded Halliburton chemicals project in Saudi Arabia - Fluor (FLR) announced that it was awarded the engineering, procurement and construction of the Halliburton (HAL) Specialty Chemicals Manufacturing Reaction Plant located in the PlasChem Park, Jubail, Saudi Arabia. Fluor booked the undisclosed contract value in Q4 of 2018. The new chemicals facility will produce specialty chemical products and intermediates to supply both the upstream and downstream oil and gas production industries. Fluor's scope includes engineering, procurement, construction and commissioning.

10:16 EDT Humana, PatientPing announce agreement to improve care coordination - PatientPing announced that it has teamed up with Humana on a new care coordination focus for Humana Medicare Advantage members in North Carolina. The relationship seeks to improve member experience for Humana's North Carolina Medicare Advantage membership by enhancing care coordination among providers on PatientPing's platform. Through these efforts, Humana aims to reduce emergency department visits, preventable admissions and readmissions, and improve connectivity to community-based providers post-discharge. Humana will have access to PatientPing's provider enablement platform to monitor acute and post-acute events in real time. In addition, Humana plans to offer PatientPing's platform to many network providers with the goal of improving care coordination, and reducing total cost of care for Humana members.

10:00 EDT Wolverine World Wide falls -9.1% - Wolverine World Wide is down -9.1%, or -$3.58 to $35.94.

10:00 EDT Owens & Minor falls -18.5% - Owens & Minor is down -18.5%, or -$1.47 to $6.47.

10:00 EDT Belden rises 9.8% - Belden is up 9.8%, or $5.57 to $62.15.

09:47 EDT Aerojet Rocketdyne falls -9.8% - Aerojet Rocketdyne is down -9.8%, or -$3.96 to $36.39.

09:47 EDT Owens & Minor falls -19.8% - Owens & Minor is down -19.8%, or -$1.57 to $6.37.

09:47 EDT Invitae rises 9.3% - Invitae is up 9.3%, or $1.53 to $18.04.

09:36 EDT Bristol-Myers says Starboard acquired 1M shares, nominated five board directors - In a regulatory filing earlier, Bristol-Myers Squibb (BMY) stated: "Starboard Value sent Bristol-Myers Squibb a notice of nomination in connection with Bristol-Myers Squibb's 2019 Annual Meeting of Stockholders, which Bristol-Myers Squibb informed Starboard Value it would review. The notice proposed John M. Leonard, Steven J. Shulman, Jeffrey C. Smith, James L. Tyree and Janet S. Vergis for election to the BMS Board. In connection with its delivery of the notice, Starboard Value requested to meet with management of Bristol-Myers Squibb and that, pending these discussions, the notice be kept confidential. Bristol-Myers Squibb management has subsequently met with Starboard Value on multiple occasions. As of the date of this joint proxy statement/prospectus, there has not been a date set for the Bristol-Myers Squibb 2019 Annual Meeting of Stockholders and such meeting will be held subsequent to the Bristol-Myers Squibb special meeting. Starboard Value advised Bristol-Myers Squibb in the notice that it had acquired 1 million shares of Bristol-Myers Squibb common stock, of which 999,000 shares were acquired on January 31, 2019. On February 5, 2019, Starboard Value filed an HSR Act notification and report to allow it to acquire shares of Bristol-Myers Squibb common stock." A prior report from Reuters indicated that activist hedge fund Starboard Value has asked a proxy solicitor to evaluate the level of support among Bristol-Myers investors for the company's planned acquisition of Celgene (CELG), The Fly notes.

09:32 EDT FBI names ECS prime awardee on $38M cybersecurity contract - The Federal Bureau of Investigation has named ECS the prime awardee of a $38M contract to manage the Bureau's Cybersecurity Red and Blue Team Program, and its Enterprise Compliance and Continuous Monitoring Support Program. The mission-oriented programs are designed to secure and monitor FBI networks from internal and external threat actors. Over a six-year period of performance, ECS will deploy remote and on-premise cybersecurity solutions to continually enhance the FBI's security posture, identify risk to missions, respond to security incidents, and actively hunt for vulnerabilities and threats. ECS will apply threat- and risk-driven methodologies to actively defend systems and networks across the Bureau: the ECS Red Team will leverage offensive tools and techniques to emulate cyber threats, while the ECS Blue Team will perform advanced operational vulnerability assessments and provide incident response and threat-hunting services. ECS will also manage the technical infrastructure of the Bureau's information security unit, conduct threat and vulnerability research, and coordinate the unit's cybersecurity operations. In the performance of this contract, ECS will draw on an extensive history providing advanced cybersecurity support to clients including the Department of Energy, Department of Homeland Security, U.S. Army, and U.S. Navy. The company will add value to the FBI by detecting and preventing cyber-based threats, as well as responding to and recovering from incidents within FBI systems and networks.

09:18 EDT Bristol-Myers sees run-rate synergies of $2.5B by 2022 from Celgene transaction

09:16 EDT Bristol-Myers sees over $45B of FCF generation post-closing of Celgene deal - Expected over first three full years following close of Celgene (CELG) transaction.

09:13 EDT Adial Pharmaceuticals announces partnership with Catalent for AD04 - Adial Pharmaceuticals announced a partnership with Catalent Pharma Solutions, a provider of delivery technologies and development solutions for drugs, biologics and consumer health products, to advance clinical activities related to AD04, Adial's genetically targeted, investigational new drug product for the treatment of alcohol use disorder, or AUD. This partnership brings together capabilities to allow the commencement of Adial's planned initial Phase 3 trial, with Catalent providing packaging and distribution. Based on the clinical experience to date and publicly available databases, Adial believes the genetic prevalence of genotype-positive AUD patients in the United States is about 33%, or about 11M people, and that the prevalence in Scandinavia and in certain areas of Eastern Europe may be even higher, with possibly more than 50% being genetically positive for treatment with AD04. The FDA has agreed that the Phase 3 trials of AD04 can proceed with enrolling patients that are genotype positive for this Phase 3 trial.

09:10 EDT CVS Health CEO says many headwinds 'transitory'

09:07 EDT Bristol-Myers says Celgene deal remains on track to close in Q3 - Bristol-Myers Squibb Company (BMY) provided an update on its proposed acquisition of Celgene Corporation (CELG). Bristol-Myers Squibb announced that it has filed an amended registration statement on Form S-4 with the Securities and Exchange Commission in connection with Bristol-Myers Squibb's proposed acquisition of Celgene. The special meetings of stockholders of both Bristol-Myers Squibb and Celgene are currently scheduled for April 12, 2019, and the record dates for stockholders of both companies eligible to vote at the respective special meetings have been set for March 1, 2019. At the special meetings, stockholders of the respective companies will vote on proposals related to the definitive merger agreement between the two companies announced on January 3, 2019. Bristol-Myers Squibb is continuing its engagement with regulatory authorities in connection with the transaction. In order to facilitate continued dialogue with the Federal Trade Commission, Bristol-Myers Squibb determined to voluntarily withdraw and refile its premerger notification and report form under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Bristol-Myers Squibb expects to refile its premerger notification and report form under the HSR Act on February 20, 2019, which will restart the 30-day time frame for the FTC's initial review of the transaction. The transaction remains on track to close in the third quarter of 2019.

09:07 EDT O2Micro granted battery pack protection patent - O2Micro announced the grant of a battery pack protection patent. O2Micro was issued 20 claims under United States patent number 9,291,680 for the invention of protection circuits for lithium Ion battery packs. The self-compensation method adapts to component variability and changes over the life-time of the battery pack.

09:04 EDT DHI Group names Paul Farnsworth as Chief Technology Officer - DHI Group announced that it has hired Paul Farnsworth as its new Chief Technology Officer. Farnsworth will oversee DHI's engineering organization and execute a technology strategy that aligns the company's software development and infrastructure operations with its product roadmap. Farnsworth will join DHI's executive team and report directly to CEO Art Zeile. Prior to joining DHI, Farnsworth was the Chief Technology Officer at Reed Group.

09:02 EDT Abbott, Novo Nordisk announce non-exclusive partnership - Abbott (ABT) and Novo Nordisk (NVO) announced a non-exclusive partnership that will integrate insulin dose data from Novo Nordisk pre-filled and durable connected pens directly into the digital health tools compatible with the FreeStyle Libre system. The partnership reflects both companies commitment to make diabetes management easier by connecting key technologies such as continuous glucose monitoring and connected insulin pens.

08:51 EDT One Stop Systems subsidiary receives $1.3M initial purchase order for PCs - One Stop Systems's subsidiary, Bressner Technology, a computing supplier in Europe, has received a $1.3M initial purchase order for customized Bressner BT Model Embedded Box PCs from a customer in the medical industry. The order is a blanket purchase order for approximately 25 units per month over the next 24 months. The specialized Box PCs will be powered by an Intel Core i5 processor and feature a variety of display ports compatible with the customer's existing medical equipment displays. They are designed to be embedded in larger systems, like X-ray machines, MRI and CT scanners, as well used for robotic assisted surgery applications.

08:47 EDT Perspecta awarded $905M task order to support U.S. Army Cyber Command - Perspecta announced that it has been awarded the United States Army Cyber Command Cyberspace Operations Support task order. The program represents new work for the company and has a one-year base and four, one-year options, with a maximum ceiling value of $905,700,984. Perspecta will provide comprehensive cyberspace operations support to ARCYBER headquarters, Joint Forces Headquarters-Cyber, ARCYBER subordinate components, service components of USCYBERCOM, and other Department of Defense cyber mission partners.

08:38 EDT Kandi Technologies reports NHTSA approval of two pure EV models - Kandi Technologies Group announced that Kandi brand electric vehicle Model EX3 and Model K22 have been approved for importation and registration in the USA by the National Highway Traffic Safety Adminstration. This is another significant milestone after qualifying for a $7,500 U.S. Federal tax credit in October 2018. The NHTSA approval is an assurance that Kandi's two EV models conform to NHTSA standards and are registered in the U.S.. The JV Company will begin the process of launching the Model EX 3 and Model K22 for the American market.

08:36 EDT Allogene Therapeutics enters lease to develop cell therapy facility - Allogene Therapeutics announced that it has entered into a lease agreement to develop a 118,000 square foot cell therapy manufacturing facility in Newark, California. The new manufacturing facility is being designed to provide GMP manufacturing for clinical supply and commercial product upon potential regulatory approval. Allogene currently manufactures its clinical trial supply through a contract manufacturing organization, which continues to remain a component of the company's long-term manufacturing strategy.

08:35 EDT Southwest cuts Q1 RASM view to 3%-4% from 4%-5% - In a regulatory filing, Southwest Airlines is providing guidance regarding its first quarter 2019 operating revenue trends. The company previously communicated an estimated negative revenue impact in the $10M-$15M range for January 1st through 23rd related to the government shutdown. Since then, the company has continued to experience softness in passenger demand and bookings as a result of the government shutdown. As a result, the company now estimates the negative revenue impact to first quarter 2019 to be approximately $60M. Aside from this impact, the company has continued to experience strength in year-over-year close-in yields, thus far in first quarter 2019. Based on current bookings and yield trends, the company now expects its first quarter 2019 operating revenue per available seat mile, or RASM, to increase in the three to four percent range, year-over-year. This compares with the company's previous first quarter 2019 RASM guidance of a year-over-year increase in the four to five percent range.

08:33 EDT Milestone Scientific announces update on CompuFlo Epidural System launch - Milestone Scientific reported momentum in the first phase of the commercial roll-out of its CompuFlo Epidural System. CompuFlo is an instrument that helps anesthesiologists objectively identify the epidural space with 99% success on the first attempt. Over the course of eight months, three major anesthesia journals published positive results of four CompuFlo clinical studies. Anesthesia & Analgesia, Anesthesiology Research & Practice and the International Journal of Obstetric Anesthesia all featured studies that found CompuFlo consistently differentiates false loss of resistance from true loss of resistance during epidural placement. Confidence in recognizing a true loss of resistance can help improve the efficacy of anesthesia, reduce complications, and speed the procedure learning curve for trainees.

08:32 EDT Corteva Agriscience acquires Clearfield Canola Production System from BASF - Corteva Agriscience, Agriculture Division of DowDuPont, announced that it has acquired the Clearfield Canola Production System in Canada and the United States from BASF. Clearfield canola is a globally-recognized non-genetically modified herbicide tolerance system, consisting of an herbicide tolerance trait and Imidazolinone herbicides sold in Canada primarily under the brand, Ares. The financial terms of the agreement were not disclosed.

08:30 EDT Alkaline Water announces distribution agreement with PITCO Foods - Alkaline Water announced that PITCO Foods will now be selling Alkaline88 to over 12,000 retail stores across Northern California and Reno Nevada. This new agreement enhances distribution in a territory where the company already holds market share. Specifically, Nielsen data ranks Alkaline88 as the 13th best-selling still-water brand in Southern California. Pitco will be actively selling Alkaline88 products to their network of over 12,000 retail stores in California with the support of the recently announced Van Program.

08:17 EDT BorgWarner's HVH 410 electric motor chosen for PHEV to launch in 2019 - A major European commercial vehicle manufacturer has chosen the company's proven High Voltage Hairpin 410 electric motor for a plug-in hybrid electric truck to be launched in 2019. The electric motor is a key component in a range of vehicles including urban and night-time delivery trucks and waste handling vehicles. Generating 130 kW (174 hp) of power and 1,050 Nm of torque, the HVH motor will work in parallel with an inline five-cylinder engine that runs on hydro treated vegetable oil or diesel. The HVH motor will also regeneratively charge the battery pack during braking or downhill coasting.

08:12 EDT CPI Aerostructures awarded multi-year contract from Lockheed Martin for F-16V - CPI Aerostructures (CVU) announced that it has been awarded a multi-year contract by Lockheed Martin (LMT) to manufacture structural assemblies for the F-16V aircraft, the world's most technologically advanced fourth generation fighter. Under the terms of the contract with Lockheed Martin, CPI Aero will provide rudder island and drag chute canister assemblies for the F-16V. The RI/DCC is a large structural sub-assembly that is installed on the tail section of the aircraft. Deliveries are expected to begin during Q4 and continue through 2024. An initial, multi-million dollar purchase order under the long term contract is anticipated within the next several weeks.

08:11 EDT Uranium Energy granted Radioactive Material License for Burke Hollow project - Uranium Energy is pleased to announce that the Texas Commission on Environmental Quality has issued the Radioactive Material License for the Burke Hollow Project, completing the last of the four major permits needed for uranium extraction. The Burke Hollow Project will be developed as part of the company's hub-and-spoke strategy, designed for low-cost in-situ recovery of uranium with final processing to occur at the nearby and fully permitted Hobson Plant. The license boundary includes 5,385 acres, encompasses multiple production areas and authorizes construction of the satellite facility. In addition to the Radioactive Material License, the Burke Hollow Project now has an 11,000 acre Mine Area permit, approved in December 2016, two disposal well permits, issued in July 2015, and the aquifer exemption, issued in March 2017.

08:10 EDT Taronis Technologies completes cyanobacteria decontamination study - Taronis Technologies announced that the company has completed a study using its patented plasma arc technology to effectively kill toxic cyanobacteria and the related toxins produced by the bacteria. The testing involved four independent testing parties: Florida State University, Tetra Tech, Enviro-Sciences, and Flowers Chemical Laboratories. The water samples successfully tested were taken from Lake Okeechobee, in Central Florida, which was devastated by toxic cyanobacteria blooms during 2018. Tetra Tech was engaged by Taronis to review the scope of testing and to observe the sampling, decontamination and review process. Enviro-Sciences independently conducted testing related to the biological contents of the water samples before and after exposure to the plasma arc. Flowers Chemical Laboratories is conducting independent testing on the chemical components of the water samples before and after exposure to the plasma arc. Sven Kranz, of Florida State University, also independently observed all phases of testing and provided independent verification of the plasma arc's ability to eliminate the cyanobacteria.

08:09 EDT Inovio: First subject dosed with DNA-encoded monoclonal antibody technology - Inovio Pharmaceuticals, in collaboration with The Wistar Institute and the University of Pennsylvania announced that the first subject was dosed as part of the first-ever human study of Inovio's DNA-encoded monoclonal antibody technology. Funded fully by the Bill & Melinda Gates Foundation, this trial's focus is on evaluating the dMAb's ability to prevent or treat Zika virus infection. The clinical results will also help to broadly advance Inovio's dMAb programs in infectious diseases and cancer. When delivered directly into the body, the genetic codes provided by the synthetic dMAbs, instruct the body's cells to become the factory which manufactures the therapeutic antibody products, enabling a major leap forward in antibody technology.

08:07 EDT Judge orders Altice USA to maintain 'Status Quo' staffing at News 12 in lawsuit - In a court order dated February 13, the Honorable Joseph Slights III, Judge, Court of Chancery, State of Delaware, ordered Altice USA to maintain "Status Quo" staffing levels at News 12 for the remainder of the lawsuit and scheduled trial for September 4 - 6, announced the Dolan Family. The ruling prohibits Altice from reducing positions for News 12 staff until the matter is resolved by the Court. The order states, "During the pendency of this Action in this Court, Altice shall not terminate any News 12 employee other than (i) for actual, bona fide cause or (ii) after first obtaining prior permission from the Court." In a separate action on February 13, the Court scheduled a hearing for April 22 regarding the Altice USA motion to dismiss the case. Plaintiffs note that the motion to dismiss is a routine legal maneuver frequently attempted by defendants. Plaintiffs fully anticipated the motion and will vigorously oppose it. The Dolan v. Altice USA lawsuit contends that Altice must maintain staffing levels based on commitments it made when it acquired News 12 in 2016. Altice is no stranger to lawsuits, with records showing Altice as a party to 235 lawsuits worldwide for the three years 2016 to 2018.

08:03 EDT Abbott receives CE Mark for the Determine HBsAg 2 test - Abbott announced it has received CE Mark for the world's most sensitive rapid diagnostic test for the detection of hepatitis B surface antigen, the Determine HBsAg 2 test for use with serum, plasma or whole blood. This highly sensitive, easy-to-use, rapid lateral flow test enables identification of those with the virus and facilitates linkage to care in every healthcare setting.

07:55 EDT Wintrust Financial to acquire ROC for aggregate purchase price of $46M - Wintrust Financial announced the signing of a definitive agreement to acquire Rush-Oak, or ROC. ROC is the parent company of Oak Bank, an Illinois state-chartered bank that operates a banking location in the Gold Coast neighborhood of Chicago, Illinois. As of December 31, 2018, Oak Bank had approximately $196M in assets, approximately $143M in loans and approximately $158M in deposits. Subject to possible adjustment, the aggregate purchase price to ROC stockholders is currently estimated to be approximately $46M. Shares of ROC common stock outstanding at the time of the merger will be converted into the right to receive per share merger consideration to be paid in cash. The merger agreement also provides that, prior to closing, the shares of Oak Bank held directly by individual minority shareholders will be redeemed for cash by ROC for an aggregate redemption value of approximately $9M, leaving Oak Bank as a wholly-owned subsidiary of ROC. Subject to approval by banking regulators and ROC's stockholders and certain other closing conditions, the transaction is expected to close in Q2 and it is not expected to have a material effect on Wintrust's 2019 earnings per share.

07:49 EDT Aehr Test Systems announces $2.4M order for FOX-NP Test and Burn-in Systems - Aehr Test Systems announced that it has received a $2.4M order from a semiconductor manufacturer for Aehr's new FOX-NP Test and Burn-in Systems. The FOX-NP systems compliment the customer's existing fleet of FOX-XPTM Test and Burn-in Systems to provide additional test and qualification capacity as a result of increasing variety of silicon photonics devices. The FOX-NP Systems are expected to ship within the next six months.

07:46 EDT Jacobs Engineering selected by CTA for Red and Purple Modernization Program - Jacobs, with joint venture partners Arcadis and Ardmore-Roderick, was awarded a six-year contract by the Chicago Transit Authority for professional owner's representative services for the Red and Purple Modernization Program Phase One project. Phase One of RPM is the largest capital improvement project in CTA's history. The entire RPM program, expected to be completed over multiple phases, will provide much needed capacity in this growing residential corridor to accommodate current and future riders, and to deliver faster and smoother rides with less crowding and more frequent service. Jacobs will provide program and construction management services in support of the CTA for the RPM Phase One Design-Build. This support includes providing design and construction management, field support and project controls services, safety and security certification oversight, quality assurance, and construction closeout services. CTA estimates the project value at $2.1B and major project construction is expected to begin in the second half of 2019.

07:40 EDT Primoris announces renewal of MSA valued at $15M - Primoris announced a renewal of a master service agreement, or MSA, with a three year anticipated value of approximately $15M. The contract was secured by Primoris Mechanical Contractors. The award is a three-year MSA with a municipality in southern Florida to provide design-build services. While the agreement does not obligate the customer to award Primoris a specific dollar amount, discussions with the customer and history with this customer form the basis for our anticipated value. The agreement covers projects related to the construction of water treatment facilities, wastewater treatment facilities, and reclaimed water treatment facilities. Projects may include new construction, rehabilitation of existing facilities, improvements for energy efficiency and sustainability, or other related design-build services.

07:38 EDT Biohaven Pharmaceutical enrolls first patient in Phase 3 trial of troriluzole - Biohaven Pharmaceutical announced that it has enrolled its first patient in a Phase 3 clinical trial assessing the efficacy and safety of troriluzole in generalized anxiety disorder. Biohaven expects to enroll approximately 372 patients in this randomized, double-blind, placebo-controlled trial across approximately 50 sites in the United States. Researchers will evaluate acute symptomatic treatment with troriluzole in patients with a diagnosis of generalized anxiety disorder. The primary outcome measure is the change in a patient's score on the Hamilton Anxiety Rating Scale, a scale designed to assess the severity and type of symptoms in patients with GAD. The trial will also assess the safety, tolerability and pharmacokinetics of troriluzole.

07:37 EDT Sangamo: FDA accepts IND application for ST-920 - Sangamo Therapeutics announced that the U.S. FDA has accepted the Investigational New Drug application for ST-920, a gene therapy candidate being evaluated for the treatment of adults with Fabry disease. Current standard of care for this rare, progressive condition involves regular lifelong infusions of enzyme replacement therapy. The active IND enables Sangamo to initiate a Phase 1/2 clinical trial designed to assess the safety, tolerability and efficacy of ST-920 in adults with Fabry disease. Sangamo expects to open several clinical sites later this year.

07:35 EDT Vistra Energy, Crius Energy Trust to amend purchase agreement - Vistra Energy and Crius Energy Trust have entered into an amendment to their existing purchase agreement pursuant to which Vistra has agreed to increase its acquisition price for Crius Energy such that unitholders of Crius Energy will now receive C$8.80 per trust unit, an increase of C$1.23 per trust unit from the parties' prior agreement. The purchase price is in addition to Crius Energy's previously-declared C$0.209 per unit distribution for the first quarter of 2019. Vistra and Crius Energy negotiated the amendment in response to the receipt by the Crius Energy Board of Directors of an unsolicited acquisition proposal from a third party bidder dated Feb. 14, 2019 that was higher than the purchase price previously agreed by Vistra and Crius Energy. Vistra's management and Board of Directors carefully reviewed the terms of the third party acquisition proposal and determined that the Crius Energy transaction remained attractive and accretive at the new price of C$8.80 per trust unit, or approximately $378M plus the assumption of Crius Energy net debt of approximately $108M. Pending the receipt of all necessary approvals and the fulfillment of all other customary closing conditions, the parties expect the transaction to close in the second quarter of 2019.

07:32 EDT Recro Pharma announces publication of new IV meloxicam data - Recro Pharma announced the publication of new intravenous, or IV, meloxicam data. The articl was published online in Regional Anesthesia & Pain Medicine. A new drug application, or NDA, for IV meloxicam is currently under review by the FDA and the company is currently awaiting its assigned PDUFA goal date of March 24. The published data describe the pooled safety across a total of seven clinical studies, where IV meloxicam was evaluated in patients following several types of surgeries, including dental impaction surgery, open abdominal hysterectomy, abdominal laparoscopic surgery, bunionectomy, and abdominoplasty, among others. In this pooled analysis, IV meloxicam was generally well-tolerated, with the incidence of TEAEs occurring in a lower percentage of IV meloxicam-treated patients than in placebo-treated patients. The most commonly reported TEAEs across all treatment groups were nausea, headache, vomiting and dizziness. Notably, TEAE incidence was generally similar between the overall study populations and older patients with impaired renal function. There were no drug-related deaths for patients treated with IV meloxicam. Serious adverse events occurred at a lower frequency in the 30mg IV meloxicam treated group compared to the placebo group. In the Phase II/III postsurgical study program where opioid rescue medication consumption was monitored, IV meloxicam was often associated with prolonged time to first rescue medication use and reduced rescue medication requirements. In the Phase III, randomized, double-blind, placebo-controlled trial evaluating IV meloxicam following major surgery, IV meloxicam was associated with reduced opioid consumption. Mean opioid consumption in the overall population was significantly less in the IV meloxicam group compared with the placebo group. Decreased opioid use among patients treated with IV meloxicam compared with placebo-treated subjects was observed across all subgroups. In the IV meloxicam treatment group, decreased opioid use corresponded to fewer TEAEs commonly associated with opioid administration during the initial postoperative period. Additionally, in both the Phase II dental impaction and hysterectomy studies, the percentage of subjects using opioid medication after surgery was lower in the IV meloxicam group compared with the placebo group. Although a statistical evaluation was not conducted across the pooled studies, a trend indicating a decrease in adverse events commonly associated with opioid administration such as nausea, vomiting, constipation and pruritus was observed.

07:21 EDT Shake Shack announce executive appointments - Shake Shack (SHAK) announced the appointments of Chief Development Officer, Chief Global Licensing Officer, Chief Information Officer and Chief Marketing Officer, as well as the addition of its ninth board member. All four positions represent new roles at the company, filled with a balanced team of internal and external talent. With sizeable growth ahead and a relentless focus on excellence, experience and hospitality, Shake Shack's team of senior leaders will be instrumental in its strategic growth. Andrew McCaughan, formerly Vice President of Development at Shake Shack, has been promoted to Chief Development Officer, effective February 28, 2019. He will be responsible for the overall growth of the company, leading the real estate strategy, design, construction and facilities functions. Michael Kark, formerly Vice President of Global Licensing at Shake Shack, has been promoted to Chief Global Licensing Officer, effective February 28, 2019. He will be responsible for overseeing the company's rapidly expanding licensed partnerships around the world. Dave Harris has been named as Chief Information Officer and will be responsible for overseeing all aspects of technology at Shake Shack. Prior to joining Shake Shack, Dave served as Vice President of Digital Technology at Newell Brands (NWL).

07:18 EDT Carrols Restaurant up 2.7% after announcing franchise deal, preliminary results

07:13 EDT MNG urges Gannett shareholders to ask questions on earnings call - MNG Enterprises, which owns 7.5% of the outstanding shares of Gannett, is urging Gannett shareholders to read MNG's January 14 letter to Gannett and, on the Company's earnings call demand answers to the still unanswered questions about the Company's recent actions and path forward. MNG said, "On January 14, MNG proposed acquiring Gannett for $12 per share in cash, representing a 41% premium to Gannett's 2018 year-end share price, and asked the Gannett Board to do the following: enter into discussions with MNG about a strategic combination; hire an investment bank to conduct a review of strategic alternatives, including a potential sale of the Company; commit to a moratorium on digital acquisitions; and commit to a feasible, strategic and financial path forward before hiring a new CEO. Instead, on February 4, 2019, Gannett rejected MNG's premium all-cash proposal and refused to extend the deadline for director nominations without even first meeting with MNG and its advisors. Having done so, Gannett now will likely seek to spin the Company's quarterly results in the best possible light, despite the reality of Gannett's continuing underperformance, and is unlikely to allow questions from MNG, its largest active shareholder. MNG believes the owners of Gannett deserve better and calls on its fellow shareholders to demand answers to the following questions on the earnings call: 1. Since 2015, Gannett has spent ~$350mm on digital acquisitions while EBITDA has declined by 31%2 and Free Cash Flow has declined by close to 50%3. Why should shareholders view this strategy shift from print towards digital as anything but a substantial waste of shareholder capital, and why should shareholders have any reason to believe that the Board's digital strategy will ever bear fruit? 2. Why has the Board approved dramatic increases in CEO compensation at a CAGR of 17% from 2015 to 2017, despite a significant decline in share price during that period and consistent operational underperformance? 3. Given Gannett's continued underperformance, lower margins relative to peers and poor capital allocation, why should shareholders believe this Board will not keep destroying shareholder value? How does the Board respond to J.P. Morgan's characterization of MNG's proposal as a potentially favorable exit for shareholders "with softness in revenue and adj. EBITDA likely to continue for GCI"? 4. As of the end of 2018, Gannett's share price had declined 41% since its spin-off from TEGNA Inc. in 2015. What is Gannett's standalone plan to achieve more than a $12 per share valuation in the next year absent the MNG transaction, and why will the next year be different than previous years? How did Gannett determine that the $12 per share proposal undervalues the Company? 5. Given that the pro forma leverage ratio of a combined MNG-Gannett would be low relative to peers, why do you believe MNG's proposal would be difficult to finance? 6. Under what circumstances would the Gannett Board allow MNG to conduct customary due diligence and enter into discussions regarding a mutually beneficial transaction on potentially improved terms and/or initiate a strategic review process? 7. Why did you reject MNG's offer and deny their request to extend the director nomination deadline before even meeting with MNG, rather than engaging in good faith to satisfy your fiduciary duties to shareholders? "

07:11 EDT Carrols Restaurant agrees to acquire 221 restaurants, announces brand merger - Carrols Restaurant announced that it has entered into a definitive Agreement and Plan of Merger to acquire 166 Burger King and 55 Popeyes restaurants from Cambridge Franchise Holdings in 10 Southeastern and Southern states. In addition to its strong restaurant portfolio in these attractive geographies, Cambridge has an established track record of developing both new Burger King and new Popeyes restaurants that the company believes will benefit Carrols' stockholders and broaden its capital allocation and growth opportunities. The transaction will be structured as a tax-free merger. Cambridge, which is controlled by Garnett Station Partners' Managing Partners Matt Perelman and Alex Sloane and owned by some large and highly respected family office investors, will receive approximately 7.36 million shares of Carrols common stock, and at closing will own approximately 16.6% of Carrols' outstanding common shares. Cambridge will also receive shares of 9% PIK Series C Convertible Preferred Stock that will be convertible into approximately 7.45 million shares of Carrols common stock at $13.50 per share (a 44% premium to the $9.35 closing share price on February 19, 2019). The conversion of the preferred stock received by Cambridge will be subject to a vote of Carrols' stockholders which will occur at the company's 2019 Annual Meeting of Stockholders, and will automatically convert into common stock upon stockholder approval of such conversion. All shares issued to Cambridge are subject to a two year restriction on sale or transfer subject to certain limited exceptions. As part of the transaction, Cambridge will have the right to designate up to two director nominees and Perelman and Sloane will join the Carrols board upon completion of the merger. Including approximately $100 million of net debt assumed from Cambridge, the transaction value of $238 million based on the company's February 19, 2019 closing share price, values Cambridge at approximately 5.0 to 5.5 times pro forma restaurant-level EBITDA (based on September 30, 2018 results, with pro forma adjustments for acquisitions completed in 2018 and the assumed sale-leaseback of approximately $25 million of fee owned property). On a fully-diluted, as-if converted basis after giving effect to both the conversion of the Cambridge and Burger King Corporation convertible preferred stocks to common stock, Cambridge would hold an approximate 24% equity interest in the company. There is no cash consideration as part of the transaction. Carrols expects to refinance the existing Cambridge debt assumed as part of the transaction, along with the company's existing debt, through a new senior secured credit facility providing for term loan and revolving credit borrowings under a fully committed financing provided by Wells Fargo Bank, National Association and arranged by Wells Fargo Securities, LLC. The closing of the merger with Cambridge is not, however, conditioned on financing. After giving effect to the transaction and the refinancing, the Company expects that total debt will be under 3.0 times Adjusted EBITDA, and believes that along with an expanded revolving credit facility, it will have sufficient liquidity to fund its investment and growth plans. Under Carrols' existing agreement with BKC, it is currently pre-approved for expansion and holds assignment rights to BKC's Right of First Refusal in 20 states until it reaches 1,000 restaurants. In conjunction with the merger, Carrols has entered into a new Area Development and Remodeling Agreement with BKC (which will be effective upon the closing of the transaction with Cambridge) that expands the assignment of BKC's ROFR for the acquisition of up to 500 additional Burger King restaurants (excluding the Cambridge restaurants) and also expands the company's ROFR territory to include most of Arkansas, Louisiana, Mississippi, and Tennessee. The company has agreed to relinquish its right to BKC's ROFR in certain states where it is not currently expanding (Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, and West Virginia). As part of the agreement with BKC, Carrols has also agreed to develop 200 new Burger King restaurants over the next six years and to remodel or upgrade certain of its restaurants (or restaurants to be acquired) to the Burger King of Tomorrow image over the same period.

07:09 EDT Compass Diversified to sell Manitoba Harvest to Tilray for up to C$419M - Compass Diversified (CODI) announced that it has entered into a definitive agreement to sell its majority owned subsidiary, FHF Holdings, or Manitoba Harvest, to Tilray (TLRY). Under the terms of the agreement, Manitoba Harvest will be sold to Tilray for an aggregate sales price of up to C$419M. The company expects to realize a sizable gain on the sale and intends to use the net proceeds to repay outstanding debt under the company's revolving credit facility. Under the terms of the agreement, shareholders of Manitoba Harvest, including CODI, will receive up to C$419M, of which C$277.5M is payable at closing, comprised of C$150M in cash and C$127.5M in Tilray Shares. Six months after closing, Manitoba Harvest shareholders, including CODI, will receive C$92.5M, comprised of C$50M in cash and C$42.5M in Tilray Shares. Manitoba Harvest shareholders, including CODI, will receive an additional C$49M in Tilray Shares upon Manitoba Harvest achieving certain performance milestones in 2019, such amount to be reduced to the extent that some or all of the milestones are not achieved. The transaction will be subject to normal post-closing adjustments. The closing of this transaction is subject to customary terms and conditions and court approval. The transaction will be completed by plan of arrangement under the Business Corporations Act of British Columbia. The transaction is expected to close within the next 30 days.

07:08 EDT Garmin intends to recommend quarterly cash dividend of 57c per share - The board of directors intends to recommend to the shareholders for approval at the annual meeting to be held on June 7, 2019, a cash dividend in the amount of $2.28 per share, payable in four equal installments of 57c per share on dates to be determined by the Board. In addition, the board of directors has established March 29, 2019 as the payment date and March 15, 2019 as the record date for the final dividend installment of 53c per share, per the prior approval at the 2018 annual shareholders' meeting. The first, second and third payments of 53c per share were made on June 29, 2018, September 28, 2018, and December 31, 2018, respectively.

07:02 EDT CVS Health drops 5% in pre-market trading after guidance misses estimates - In pre-market trading following its Q4 report and FY19 guidance, CVS Health shares are down $3.63, or 5.2%, to $66.25.

07:00 EDT Mallinckrodt elects to discontinue further enrollment in Uvadex, Therakos trial - Mallinckrodt announced interim analysis results of its company-sponsored, Phase 3, single-arm, open-label, multi-center study assessing the efficacy of treating steroid-refractory, acute Graft-versus-Host Disease, or aGvHD, pediatric patients with Uvadex Sterile Solution in conjunction with the Therakos Cellex Photopheresis system. Given the overall response rate exceeded the specified target at the study midpoint, the company is electing not to proceed with further enrollment of additional patients in the clinical trial. Uvadex solution is FDA-approved for extracorporeal administration with the Therakos Uvar XTS or Cellex Photopheresis System in the palliative treatment of the skin manifestations of Cutaneous T-Cell Lymphoma, or CTCL, that is unresponsive to other forms of treatment. The planned interim analysis occurred at the midway point of enrollment when pediatric patients reached four weeks of therapy to assess response rates. The analysis found an overall response rate of 74%. The company also performed an ad hoc 12-week analysis showing an overall response rate of 48%. The study protocol allows for discontinuation of the study if the treatment overall response rate at the four-week interim analysis is at least 48%. Eleven serious adverse events were reported, leading to two subject withdrawals and two deaths; none were considered related to the Uvadex photopheresis therapy. The safety and effectiveness of Therakos Cellex Photopheresis System for use in treating pediatric patients with steroid-refractory aGvHD has not been evaluated by the FDA or any international regulatory body.

06:56 EDT Xencor announces partial clinical hold on Phase 1 study of XmAb14045 - Xencor announced that the FDA has placed a partial clinical hold on its Phase 1 study of XmAb14045, a CD123 x CD3 bispecific antibody molecule being evaluated in patients with relapsed or refractory acute myeloid leukemia and other CD123-expressing hematologic malignancies. Patients currently on treatment and benefiting from treatment may continue treatment on the study. No new patients will be allowed to enroll in the study until the partial clinical hold is lifted by the FDA. The partial clinical hold was initiated following recent safety reports Xencor submitted to the FDA on two patient deaths that were considered at least possibly related to XmAb14045. One patient experienced cytokine release syndrome, or CRS, after their first dose, the treatment of which was complicated by the patient's decision to withdraw care. One patient developed acute pulmonary edema following several doses of XmAb14045. The FDA has placed the trial on partial clinical hold pending review of additional details regarding these events, safety and efficacy information across the study, and satisfactory review of amendments to the study protocol and related documents. Xencor will be working closely with the FDA to review these events and resolve the partial clinical hold.

06:53 EDT Reata Pharmaceuticals reports 'positive' results from FSGS cohort of PHOENIX - Reata Pharmaceuticals announced positive, final results from the focal segmental glomerulosclerosis cohort of PHOENIX, a Phase 2 study of bardoxolone methyl in patients with rare forms of chronic kidney disease. Compared to baseline, bardoxolone significantly improved kidney function as measured by patients' estimated glomerular filtration rate at Week 12, which was the primary endpoint of the PHOENIX study. Patients treated with bardoxolone experienced a significant increase in eGFR of 7.8 mL/min/1.73 m2 at Week 12 compared to baseline. Reata collected historical eGFR data for 17 of the 18 patients, which demonstrated that these patients' kidney function was declining at an average annual rate of 2.6 mL/min/1.73 m2 prior to study entry. The observed 7.8 mL/min/1.73 m2 improvement after 12 weeks of treatment with bardoxolone represents a recovery of three years of average eGFR loss. With respect to safety, no treatment-related serious adverse events were reported, and the reported adverse events were generally mild to moderate in intensity. Overall, the PHOENIX trial studied 103 patients who had one of four rare forms of CKD, including autosomal dominant polycystic kidney disease, IgA nephropathy, type 1 diabetic CKD, and FSGS. Historical eGFR data collected from 91 of the 103 patients demonstrated that these patients' kidney function was declining at an average annual rate of 2.8 mL/min/1.73 m2 prior to study entry. After 12 weeks of once-daily, oral administration of bardoxolone, the mean change in eGFR from baseline across all four cohorts was 7.8 mL/min/1.73 m2. Notably, 88% of patients who reached Week 12 demonstrated an improvement in eGFR. Bardoxolone significantly reduced mean systolic blood pressure by 3.8 mmHg and mean diastolic blood pressure by 2.8 mmHg. Urinary albumin excretion was low upon study entry and remained unchanged by bardoxolone treatment. Bardoxolone was well-tolerated, with 89% of patients in PHOENIX completing treatment through Week 12, and no treatment-related serious adverse events were reported.

06:48 EDT Destination XL names Harvey Kanter as new President and CEO - Destination XL Group announced that its Board of Directors has appointed Harvey Kanter as the company's new President and CEO and a member of its Board. Kanter joined the company as an employee on February 19 and, in order to ensure a smooth and orderly transition, will serve as Advisor to the Acting CEO until April 1, when he will succeed David Levin, the company's Acting CEO, and assume the full responsibilities of the President & CEO of the company and become a member of its Board. Kanter brings a proven track record in leading executive teams, driving strategy, growing profitability and creating shareholder value for consumer-centric experiential brands. He was most recently the President, CEO and Chairman of the Board of Blue Nile.

06:41 EDT Wolverine World Wide sees FY19 cash flow from operations $200M-$220M

06:39 EDT Evans Bancorp raises semi-annual cash dividend 13% to 52c per share - Evans Bancorp announced that its Board of Directors, at its meeting yesterday, declared a cash dividend of 52c per share on its outstanding common stock. This semi-annual dividend represents a 6c, or 13%, increase from its previous semi-annual dividend paid in October 2018. The dividend is payable on April 3 to shareholders of record as of March 13.

06:38 EDT Lloyds Banking sees statutory return on tangible equity 14%-15% in 2019 - For 2019, the company sees: Ongoing capital build of 170 to 200 basis points per annum. Net interest margin of c.2.90 per cent in 2019 and, as previously guided,resilient through the plan period. Operating costs now expected tobe less than GBP 8 billion in 2019; a year ahead of original target, cost:income ratio still expected to fall every year and be in the low 40s exiting 2020including remediation. Net asset quality ratio expected to be less than 30 basis points in 2019 and through the plan period.

06:33 EDT J Sainsbury, Asda say CMA findings 'fundamentally misunderstand how people shop' - Commenting on the Competition and Markets Authority provisional findings, a spokesperson for Sainsbury's and Asda said: "These findings fundamentally misunderstand how people shop in the UK today and the intensity of competition in the grocery market. The CMA has moved the goalposts and its analysis is inconsistent with comparable cases. Combining Sainsbury's and Asda would create significant cost savings, which would allow us to lower prices. Despite the savings being independently reviewed by two separate industry specialists, the CMA has chosen to discount them as benefits. We are surprised that the CMA would choose to reject the opportunity to put money directly into customers' pockets, particularly at this time of economic uncertainty. We will be working to understand the rationale behind these findings and will continue to press our case in the coming weeks." Reference Link

06:30 EDT U.K. regulator raises concerns over J Sainsbury, Asda merger - The U.K.'s Competition and Markets Authority said it has found that the proposed deal between J Sainsbury (JSAIY) and Walmart's (WMT) Asda "could lead to a worse experience for in-store and online shoppers across the UK through higher prices, a poorer shopping experience, and reductions in the range and quality of products offered." The agency also has concerns that prices could rise at a large number of Sainsbury's and Asda petrol stations. It said, "The CMA has provisional concerns that the merger could lead to a substantial lessening of competition at both a national and local level. The combined impact means that people could lose out right across the UK and that the deal could also cost shoppers through reduced competition in particular areas where Sainsbury's and Asda stores overlap." The CMA has set out potential options for addressing its provisional concerns. These include blocking the deal or requiring the merging companies to sell off a significant number of stores and other assets - potentially including one of the Sainsbury's or Asda brands - "to recreate the competitive rivalry lost through the merger." The CMA's current view is that it is "likely to be difficult for the companies to address the concerns it has identified." Reference Link

06:20 EDT Cemex divests assets in Baltics and Nordics - Cemex announced that it has signed an agreement for the sale of assets in the Baltics and Nordics to the German building materials group SCHWENK, for approximately EUR340M. The Baltic assets being divested consist of one cement production plant in Broceni with a production capacity of approximately 1.7 Mt, four aggregates quarries, two cement quarries, six ready-mix plants, one marine terminal and one land distribution terminal in Latvia. The assets divested also include CEMEX's approximate 38% indirect interest in one cement production plant in Akmene in Lithuania, with a production capacity of approximately 1.8 Mt. In addition, the exports business to Estonia is also included as part of the divestment. The Nordic assets being divested consist of three import terminals in Finland, four import terminals in Norway and four import terminals in Sweden. Consolidated operating EBITDA generated by the divested assets was approximately EUR27.3M in 2018. The proceeds expected to be obtained from this divestment will be used mainly for debt reduction and for general corporate purposes. The closing of this transaction is subject to the satisfaction of standard conditions for this type of transactions, which includes authorization by regulators and is currently expected to finalize during the first quarter of 2019.

06:11 EDT Carvana expands to five additional markets in Northeast - Carvana launched in five additional Northeast markets. In as little as 10 minutes, customers can shop more than 15,000 vehicles on Carvana.com, finance, purchase, sell their current vehicle to Carvana; and for area residents in Westchester County, N.Y.; Barnstable, Mass.; Norwich, Conn.; Atlantic City, N.J.; and Trenton, N.J., now schedule as-soon-as-next-day delivery.

06:04 EDT Cyren announces CEO transition plan - Cyren announced that Lior Samuelson, chairman and CEO, intends to step down as CEO after transitioning his responsibilities to a successor to be identified in the future by the board. For now, Samuelson will continue in his roles as CEO and chairman of the board and will be involved in the selection and on-boarding of his successor. The board of directors has engaged an executive search firm to assist with this search. Upon transitioning his responsibilities to the new CEO, Samuelson will continue to serve as chairman of the company's board of directors.

06:02 EDT Microsoft expands AccountGuard to 12 more European markets - Tom Burt, Corporate Vice President, Customer Security & Trust at Microsoft, said in a blog post: "Soon millions of Europeans will head to the polls to cast their ballots in the European Parliament elections, as well as several key national elections. Today we're announcing the expansion of Microsoft AccountGuard to twelve new markets across Europe, providing comprehensive threat detection and notification to eligible organizations at no additional cost and customized help to secure their systems... At Microsoft, we've seen recent activity targeting democratic institutions in Europe as part of the work our Threat Intelligence Center and Digital Crimes Unit carry out every day to protect all of our customers. These attacks are not limited to campaigns themselves but often extend to think tanks and non-profit organizations working on topics related to democracy, electoral integrity, and public policy and that are often in contact with government officials. For example, Microsoft has recently detected attacks targeting employees of the German Council on Foreign Relations, The Aspen Institutes in Europe and The German Marshall Fund. The attacks against these organizations, which we're disclosing with their permission, targeted 104 accounts belonging to organization employees located in Belgium, France, Germany, Poland, Romania, and Serbia. MSTIC continues to investigate the sources of these attacks, but we are confident that many of them originated from a group we call Strontium. The attacks occurred between September and December 2018. We quickly notified each of these organizations when we discovered they were targeted so they could take steps to secure their systems, and we took a variety of technical measures to protect customers from these attacks... We're making Microsoft AccountGuard available starting today in twelve more European markets: France, Germany, Sweden, Denmark, Netherlands, Finland, Estonia, Latvia, Lithuania, Portugal, Slovakia, and Spain." Reference Link

05:58 EDT Lawmakers want to question Facebook about the privacy of groups - A letter from lawmakers on the House Committee on Energy and Commerce is questioning whether Facebook users were potentially "misled" about what data they would reveal by joining a closed group. The letter, addressed to Mark Zuckerberg, questions whether the company "may have failed to properly notify group members that their personal health information may have been accessed by health insurance companies and online bullies, among others." The letter requests a staff briefing about the issues raised in the complaint. Reference Link

05:33 EDT Achieve Life Sciences completes enrollment in ORCA-1 trial of cytisinicline - Achieve Life Sciences announced the completion of full enrollment in the ORCA-1 trial of cytisinicline. ORCA-1 is the first in Achieve's Ongoing Research of Cytisinicline for Addiction, or ORCA, Program, which aims to evaluate the effectiveness of cytisinicline for smoking cessation and potentially other addiction indications. The Phase 2b trial is evaluating a 25-day treatment course of 1.5 mg or 3.0 mg doses of cytisinicline using either a declining titration schedule or three times daily dosing. The trial is randomized and blinded to compare the effectiveness of the cytisinicline doses and schedules to respective placebo groups. The primary efficacy endpoint is the overall reduction in the number of cigarettes smoked during the treatment period, with secondary analyses being conducted on smoking cessation rates, safety, and compliance. Smokers who are participating in the trial receive standardized behavioral support. ORCA-1 was initiated in October 2018 and enrolled 254 smokers at eight centers across the United States. The trial's Data Safety Monitoring Committee met recently and concluded there are no safety concerns for subjects and the trial should continue as planned. ORCA-1 topline efficacy and safety data are expected to be announced in mid-2019.

05:11 EDT Aceto announces proposed sale of chemical business assets for $338M in cash - Aceto announced that it has entered into a "stalking-horse" asset purchase agreement with an affiliate of New Mountain Capital, a leading growth-oriented investment firm with over $20 billion in assets under management, to sell its chemicals business assets for gross proceeds of $338 million in cash, plus the assumption of certain liabilities and subject to certain adjustments, on a cash-free and debt-free basis. The sale will be conducted under Section 363 of the U.S. Bankruptcy Code. To facilitate the sale and satisfy its debt obligations, Aceto and its U.S. subsidiaries have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey. Aceto's foreign chemicals business subsidiaries are not included in the filing but will be included in the sale. In addition, Aceto intends to enter into a stalking horse agreement for its subsidiary, Rising Pharmaceuticals. Aceto expects to complete the dispositions of its chemicals and Rising businesses before its fiscal year end on June 30, 2019. Aceto will operate its business in the ordinary course while it completes the sales of its chemicals business assets and its subsidiary Rising Pharmaceuticals. To that end, Aceto has received a commitment for debtor-in-possession financing of $60 million from a syndicate of lenders led by Wells Fargo Bank, N.A. The DIP financing will finance Aceto's working capital needs through the completion of the sales transactions and support payments to vendors and suppliers for post-petition purchases in the ordinary course. The proposed sales will be conducted through Court-supervised processes under Section 363 of the Bankruptcy Code, subject to Court-approved bidding procedures, potential receipt of higher and better offers at auction and approval by the Court. PJT Partners LP is acting as Aceto's financial advisor and investment banker to lead the sales processes under the bid procedures and Lowenstein Sandler LLP is serving as legal advisor. AP Services, an affiliate of AlixPartners LLP, is also serving as CFO and advisor to the company.