Stockwinners Market Radar for April 12, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:07 EDT Alnylam's Givosiran study met primary efficacy endpoint in AHP treatment - Alnylam announced "positive complete results" from the ENVISION Phase 3 study of givosiran, an investigational RNAi therapeutic targeting aminolevulinic acid synthase 1 in development for the treatment of acute hepatic porphyria, or AHP. The full ENVISION results demonstrated a 74% mean and 90% median reduction in the primary endpoint measure of annualized rate of composite attacks in patients on givosiran relative to placebo during the six-month double-blind period. In addition, givosiran achieved statistically significant positive results for five of nine secondary endpoints, with an overall safety and tolerability profile that the company believes is encouraging, especially in this high unmet need disease. Adverse events were reported in 89.6% of givosiran patients and 80.4% of placebo patients; serious adverse events were reported in 20.8% of givosiran patients and 8.7% of placebo patients. Ninety-three of 94% , or 99%, enrolled in the open-label extension period of the study. Based on the ENVISION results, the company plans to complete its rolling submission of a New Drug Application and file a Marketing Authorisation Application in mid-2019.

17:57 EDT Sierra Metals announces resolution of strike at Yauricocha Mine in Peru - Sierra Metals announced the resolution of the strike action at the company's Yauricocha Mine in Peru that had been running since March 19, 2019, initiated by the Union of the Mine and Metallurgical Workers of Minera Corona. During the strike there were no material situations that took place and an agreement has been reached whereby no contractors dismissed as part of the contractor change will be reinstated, which was the initial reason for the strike, the company said. Employees will arrive back the Camp of the Yauricocha Mine on Saturday April 13, 2019, and regular operations of the mine will begin on Sunday, April 14, 2019. Igor Gonzales, President, and CEO commented, "Management believes that lost production experienced during this strike action will not materially affect the Company's annual production guidance or mine budget."

17:17 EDT Boeing awarded $14.31B Air Force contract for B-1/B-52 support services - Boeing has been awarded a $14.31B indefinite-delivery/indefinite-quantity contract for the modification, modernization, engineering, sustainment and test of the B-1/B-52 weapons systems. This B-1/B-52 flexible acquisition and sustainment contract provides for the upcoming modernization and sustainment efforts to increase lethality, enhance survivability, improve supportability and increase responsiveness. Work will be performed in Oklahoma City, Oklahoma, and is expected to be complete by April 11, 2029. FY19 research, development, test and evaluation funds in the amount of $1.22M are being obligated on the first task order at the time of award. Air Force Life Cycle Management Center is the contracting activity.

16:57 EDT Best Buy names Todd G. Hartman chief risk & compliance officer - According to a regulatory filing, on April 8, 2019, Best Buy announced that Keith J. Nelsen, the company's General Counsel and Secretary, is stepping down from his role effective April 12, 2019, in order to pursue other interests. The company also announced that Todd G. Hartman will succeed Nelsen as General Counsel and Secretary, assuming the role of Executive Vice President, General Counsel and Chief Risk & Compliance Officer effective April 12, 2019. To support the transition, Nelsen will remain employed with the Company in an advisory capacity through September 1, 2019. Upon his departure, Nelsen is receiving separation benefits in accordance with the company's ERISA plan.

16:32 EDT Delta Air Lines exec Smith sells 34,000 common shares - In a regulatory filing, Delta EVP and chief HR officer Joanne D. Smith disclosed the sale of 34,000 common shares of the company at a price of $58 per share.

16:28 EDT SoCal Edison 'encouraged' by scope of Gov. Newsom's strike force report - Southern California Edison, an Edison International company, said it is encouraged by the broad scope of California Governor Newsom's strike force report, which addresses critical wildfire issues including prevention, keeping the state on track to meet its ambitious climate change goals and liability and regulatory reform. "First and foremost, SCE is focused on reducing the threat of wildfires and keeping our communities safe with an aggressive and comprehensive Wildfire Mitigation Plan that is hardening the grid, enhancing inspections of our infrastructure, stepping up vegetation management and deploying high-definition cameras and weather stations," the company said. "Consistent with these activities, SCE strongly supports the state's additional commitment to wildfire prevention. The report also appropriately reflects the need to address wildfire liability and regulatory reform in order to restore confidence in the state's regulatory compact and support financially healthy investor-owned utilities. SCE looks forward to continuing to engage with state leaders with the sense of urgency Gov. Newsom called for to enact meaningful reforms to reduce wildfire risk, meet the state's clean energy goals and ensure the safety of our customers and communities."

16:18 EDT Verizon says FCC 5G actions 'paving a path' to help keep U.S. network leader - The following is a statement from Ronan Dunne, executive vice president and president of Verizon Consumer Group: "Verizon is leading the world in the development and deployment of 5G. Our commitment to being first to 5G has helped us launch 5G Home in four cities, and 5G mobility service in Chicago and Minneapolis and to at least 30 additional cities by the end of the year. No other company in the world has brought together the necessary elements of this technology like Verizon. We're excited about what we've done so far, and thrilled about what's to come. With the leadership, determination and forward-looking policies approved by the administration and the FCC, we're paving a path that will help keep the U.S. as the global leader in this next generation network. We're asking others to join us in shaping this powerful and promising new technology -- a new era in communications that will transform the lives of consumers and businesses around the world."

16:06 EDT Tech Data chairman Dutkowsky sells 22.9K shares of common stock - In a regulatory filing, Tech Data disclosed that its chairman Robert Dutkowsky sold 22.9K shares of common stock on April 10th and 11th. The transaction size was $2.47M.

16:03 EDT Vivo Opportunity reports 5.8% passive stake in Chiasma - In a regulatory filing, Vivo Opportunity disclosed a 5.8% stake in Chiasma, which represents about 1.85M shares. The filing does not allow for activism.

15:32 EDT CDC investigating =outbreak of E. coli, say ground beef may be source - The Centers for Disease Control and Prevention said that it, several states, and the U.S. Department of Agriculture's Food Safety and Inspection Service are investigating a multistate outbreak of Shiga toxin-producing E. coli O103 infections. Preliminary information suggests that ground beef is the source of this outbreak. This investigation is ongoing. A total of 109 people infected with the outbreak strain of E. coli O103 have been reported from six states. Seventeen people have been hospitalized. No cases of hemolytic uremic syndrome, a type of kidney failure, have been reported. No deaths have been reported. Preliminary epidemiologic information suggests that ground beef is the source of this outbreak. At this time, no common supplier, distributor, or brand of ground beef has been identified. CDC is not recommending that consumers avoid eating ground beef at this time. Consumers and restaurants should handle ground beef safely and cook it thoroughly to avoid foodborne illness. At this time, CDC is not recommending that retailers stop serving or selling ground beef. Publicly traded companies in the space include Tyson Foods (TSN) and Hormel (HRL). Reference Link

14:44 EDT FCC seeks comment on bidding procedures for third 5G spectrum auction - The Federal Communications Commission announced that it seeks comment on the proposed application and bidding procedures for the third 5G spectrum auction, Auction 103. This auction of airwaves in the Upper 37 GHz, 39 GHz, and 47 GHz spectrum bands "will be the largest spectrum auction in our nation's history," the FCC said. "It will make available high frequency millimeter wave spectrum which will promote the development of 5G, the Internet of Things, and other advanced spectrum-based services," the FCC added. The Public Notice adopted today proposes to offer 100 megahertz blocks of spectrum licensed by Partial Economic Area service area. The FCC also proposes bidding procedures for the clock and assignment phases of the auction. The clock phase would allow bidding on generic blocks in two categories-one for 37 GHz and 39 GHz, and one for 47 GHz-in each PEA. Reference Link

14:42 EDT FCC announces steps to make millimeter wave spectrum available for 5G - The Federal Communications Commission announced actions that it said will make millimeter wave spectrum available for 5G, the Internet of Things, and other advanced spectrum-based services, including satellite broadband services, and "are building blocks of the nation's 5G future and will contribute to economic growth, job creation, and our nation's global competitiveness." The Fifth Report and Order adopted today takes two actions. First, the Commission adopted rules to allow Fixed-Satellite Service earth stations to be individually licensed to transmit in the 50 GHz spectrum band. This action will allow Fixed-Satellite Service operators to provide faster, more advanced services to their customers. Second, the Commission established a coordination process to accommodate the military's potential need for additional sites in the Upper 37 GHz band, while protecting the interests of non-Federal licensees in this band. The steps taken today are an integral step toward the auction of the Upper 37 GHz, 39 GHz and 47 GHz spectrum bands slated to begin later this year. Reference Link

14:17 EDT Methanex announces cooperation agreement with M&G Investments - Methanex Corporation announces that it has reached a cooperation agreement with M&G Investments, pursuant to which the company will recommend Paul Dobson for election to its eleven member board of directors at the upcoming annual general meeting of shareholders on April 25. Dobson will be appointed to the Audit, Finance and Risk Committee. To accommodate the addition of Dobson, the board accepted the offer of Howard Balloch, the longest serving independent director, to advance his planned retirement by a year, and not stand or be nominated for re-election at the meeting. M&G will withdraw its proxy circular and proxy card in respect to the meeting and has agreed to vote all of its shares in favor of the nominees recommended by the company. M&G has also agreed to a standstill arrangement through the 2020 annual general meeting of shareholders. The company has agreed with M&G to continue its ongoing board refreshment process by selecting an additional director after the meeting from a list to be submitted by M&G.

13:18 EDT Campbell Soup to sell Bolthouse Farms to Butterfly Equity affiliate for $510M - Campbell Soup Company announced that it has signed a definitive agreement for the sale of Bolthouse Farms to an affiliate of Butterfly Equity for $510M, subject to customary purchase price adjustments. Upon the completion of the sale of Bolthouse Farms, which is expected by the end of fiscal 2019, Campbell will have divested its entire Campbell Fresh division. Campbell recently announced the sale of Garden Fresh Gourmet and the company's Everett, Washington, refrigerated soup plant. In fiscal year 2018, Campbell Fresh recorded net sales of $970M. Proceeds from the divestiture of the Campbell Fresh businesses will allow the company to reduce debt by approximately $570M. The transactions are not expected to impact the company's fiscal 2019 guidance. As outlined in August 2018 as part of its Board-led strategy and portfolio review, Campbell launched thorough divestiture processes for both its Campbell Fresh and Campbell International businesses. The process to divest Campbell International is ongoing.

13:03 EDT Baker Hughes reports U.S. rig count down 3 to 1,022 rigs - Baker Hughes reports that the U.S. rig count is down 3 rigs from last week to 1,022, with oil rigs up 2 to 833, gas rigs down 5 to 189, and miscellaneous rigs unchanged at 0. The U.S. Rig Count is up 14 rigs from last year's count of 1,008, with oil rigs up 18 to 833, gas rigs down 3 to 189, and miscellaneous rigs down 1. The U.S. Offshore Rig Count is up 1 rig to 23 and up 7 rigs year-over-year. The Canada Rig Count is down 2 rigs from last week to 66, with oil rigs down 4 to 18 and gas rigs up 2 to 48. The Canada Rig Count is down 36 rigs from last year's count of 102, with oil rigs down 23 and gas rigs down 13.

12:48 EDT Arrowhead says JNJ-3989 'rapidly' reduced HBsAg in ongoing Phase 1/2 study - Arrowhead Pharmaceuticals (ARWR) announced the presentation of clinical data from an ongoing Phase 1/2 study of JNJ-3989, a third-generation subcutaneously administered RNA interference therapeutic candidate being developed as a potential treatment for patients with chronic hepatitis B virus infection, at The International Liver Congress 2019, the annual meeting of the European Association for the Study of the Liver. Arrowhead entered into a license agreement in October 2018 with Janssen Pharmaceuticals (JNJ), part of the Janssen Pharmaceutical Companies of Johnson & Johnson, to develop and commercialize ARO-HBV. Key results from this interim analysis include the following: JNJ-3989 rapidly reduced hepatitis B surface antigen in patients that had 24 weeks or more of HBsAg assay results to thresholds possibly associated with improved chances of HBsAg seroclearance in many patients, after only 3 doses; JNJ-3989 reduced all measurable viral products, including HBsAg in hepatitis B e-antigen positive or HBeAg negative patients; JNJ-3989 administered subcutaneously was well tolerated at doses up to 400 mg in all chronic hepatitis B patients in cohorts 2b-11.

12:38 EDT Justice Department says GE agrees to pay $1.5B to resolve subprime issues

12:00 EDT Allegheny Technologies falls -8.1% - Allegheny Technologies is down -8.1%, or -$2.19 to $25.01.

12:00 EDT Santander Mexico rises 12.6% - Santander Mexico is up 12.6%, or 94c to $8.45.

12:00 EDT Anadarko rises 33.6% - Anadarko is up 33.6%, or $15.74 to $62.54.

11:35 EDT Biohaven jumps 14% following report of takeover interest, sale exploration - Shares of migraine drug maker Biohaven Pharmaceutical have jumped after Bloomberg said the company is exploring a sale after attracting takeover interest from potential buyers. The company is in the early stages of considering a sale and has hired a bank to advise, according to the report, which cites sources familiar with the matter. Following the report, Biohaven shares are up 14% to $55.80.

11:23 EDT Wells Fargo management preparing for idea that NII could be down 5% - Wells Fargo CFO John Shrewsberry said If deposit repricing continues to be slower than expected but has an upward trajectory, the net interest income could be closer to the high-end of the guidance range of down 2%-5%. If the long end of the curve stays where it is, that could make it towards the lower-end of the range. Additionally, loan spreads and the types of loans the bank is originating will have "an impact on that as well." Management is preparing for the idea that NII could be down 5%.

11:06 EDT Wells Fargo: NII view could be closer to low-end 'if everything goes against us' - Wells Fargo management said the company is on track to meet expense guidance of $52M-$53M. Management said the company is set to hire 1,300 people with a focus on compliance. The company is also "redoubling" its efforts to satisfy regulators. Management said auto originations are the highest since 2017. CFO John Shrewsberry said he sees more mortgage refinancing with rates dropping. Management said, "public statements from regulators" show their disappointment with our progress and "we accept their criticism." Regarding the CEO search, the board is focused on quality over speed. Management said it is not appropriate to provide further guidance at this time. The management team is "working closely" with the board to do what's right for the company, long-term.

10:49 EDT Aceto receives court approval ro sell Rising Pharmaceuticals to Shore Suven - ACETO Corporation announced that it has received approval from the U.S. Bankruptcy Court to sell the assets of Rising Pharmaceuticals and Rising's subsidiaries to Shore Suven Pharma for gross cash proceeds of $15M, plus the assumption of operating liabilities and customer obligations related to the acquired business, on a cash-free and debt-free basis. The sale was conducted through a Court-supervised process under Section 363 of the Bankruptcy Code. Under that process, Shore Suven Pharma's purchase agreement served as the "stalking horse agreement" and an auction would have been conducted had the company received qualified offers from other bidders reflecting potentially higher and/or otherwise better terms. No such bids were received prior to the bid deadline. Therefore, no auction was conducted and Shore Suven Pharma was selected as the successful bidder of the Pharma Business on March 29, 2019. The transaction is expected to close on April 19, 2019, subject to the satisfaction of certain other conditions. As previously announced, Aceto has also entered into a "stalking horse agreement" to sell its chemicals business through a comparable Court-supervised process. To facilitate the sale of both Rising Pharmaceuticals and its chemicals business assets, Aceto and its U.S. subsidiaries filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey on February 19, 2019. The company expects to complete the disposition of its chemicals businesses before its fiscal year end on June 30, 2019.

10:39 EDT Wells Fargo guides 2019 net interest income down 2%-5%, shares fall

10:06 EDT Tesla bear Einhorn says 'wheels are falling off' in quarterly letter - Greenlight's David Einhorn, who has previously disclosed that he is short Tesla (TSLA), stated in his first quarter letter to investors that "the wheels are falling off - literally," elaborating that some Tesla vehicles are reported to have faulty suspensions, "such that the wheels sometimes fall off." Some combination of the availability of the cheaper Model 3 and emerging competition "has crushed the demand" for Tesla's established high-end Model S and Model X, said Einhorn, who added that price cuts are "also likely to have a significant impact" on Tesla used car prices, to which the company has "large exposure through its leasing program." The firm initiated no material new long positions this quarter and it completed its exit from Bayer (BAYRY), Einhorn tells investors in his letter, which was shared with The Fly. At quarter-end, the largest disclosed long positions in the Greenlight partnerships were AerCap (AER), Brighthouse Financial (BHF), CONSOL Coal Resources (CCR), General Motors (GM) and Green Brick Partners (GRBK), according to the firm's letter.

10:03 EDT FibroGen granted orphan status for DMD treatment pamrevlumab - The FDA granted FibroGen orphan status for its Duchenne muscular dystrophy treatment pamrevlumab. Reference Link

10:00 EDT National Oilwell falls -5.9% - National Oilwell is down -5.9%, or -$1.74 to $27.59.

10:00 EDT Santander Mexico rises 14.7% - Santander Mexico is up 14.7%, or $1.10 to $8.60.

10:00 EDT Anadarko rises 32.4% - Anadarko is up 32.4%, or $15.15 to $61.95.

09:47 EDT Chevron falls -4.1% - Chevron is down -4.1%, or -$5.12 to $120.87.

09:47 EDT Allegheny Technologies falls -5.5% - Allegheny Technologies is down -5.5%, or -$1.49 to $25.71.

09:47 EDT Qudian rises 13.8% - Qudian is up 13.8%, or 71c to $5.86.

09:43 EDT PNC Financial seeking to reduce costs by $300M in 2019

09:24 EDT Alkermes says ALKS 3831 showed 'statistically significant improvement' in study - Alkermes this morning reported results from its Enlighten-2 weight study comparing ALKS 3831 to olanzapine. The study, which contained 561 patients with stable schizophrenia, demonstrated "statistically significant improvement compared to olanzapine at 6 months for both co-primary endpoints," according to Alkermes. It also demonstrated "continued reduction in PANSS total scores in stable patients," says the company. Reference Link

09:15 EDT Entegris received $140M termination fee from Versum Materials - Entegris (ENTG) confirmed that Versum Materials (VSM) has terminated the previously announced merger agreement with Entegris. As a result, Entegris has received a $140M termination fee from Versum. "Looking ahead, Entegris is well positioned for sustainable growth and shareholder value creation," said Bertrand Loy, president and CEO of Entegris. "As always, we remain focused on executing on our strategic plan and providing our customers with exceptional solutions to help them achieve higher yields and enhanced levels of performance and reliability."

09:10 EDT JPMorgan says will continue to invest 'heavily' in technology agenda

09:05 EDT CIT Group arranges $14.8M financing for acquisition of medical office building - CIT Group announced that its Healthcare Finance unit arranged $14.8M in financing for the acquisition of Greenville Medical Tower in Dallas, Texas. The financing was arranged on behalf of a joint venture managed by Catalyst Healthcare Real Estate and Bain Capital Real Estate, which acquired the six-story medical office building, which is located across the street from the 857-bed Texas Health Presbyterian Hospital Dallas.

09:02 EDT Sprint launches 100% Total Satisfaction Guarantee - Sprint (S) launched a 100% Total Satisfaction Guarantee. New customers and current customers adding a line will get 30 days to try Sprint's improved LTE service where they live, work and play. If they're not 100% satisfied, Sprint will refund phone costs, service charges and fees. Customers who switch to Sprint from another wireless carrier will get up to $650 to help cover switching fees and they can also receive a $250 Prepaid Mastercard (MA) when they buy one of the latest iconic smartphones. That's like Sprint paying you $900 to switch.

08:52 EDT JPMorgan says seeing deposit growth in line with expectations

08:35 EDT Banco Santander offers to acquire up to 25% of Santander Mexico - Banco Santander (SAN) announced its intention to offer to acquire up to 25% of its Mexican subsidiary through an exchange offer, equivalent to EUR2.56B. According to the terms of the transaction, tendering shareholders of the Group's subsidiary in Mexico will receive 0.337 new Banco Santander shares for each Santander Mexico (BSMX) share or 1.685 new Banco Santander ADSs for every Santander Mexico ADS, which implies a premium of 14% over yesterday's closing price. The maximum investment that Banco Santander would make to carry out the transaction, which is expected to have a neutral impact on earnings per share and a slightly positive impact on capital, would be EUR2.56B, to be paid with new shares. Speaking at the bank's Annual General Meeting, Ana Botin, Banco Santander executive chairman, said: "We believe in Mexico, in the potential of its financial sector and in Santander Mexico, which is one of the leading banks in the country today." Reference Link

08:33 EDT Taseko Mines' Florence Copper project produces first copper - Taseko Mines announced that Taseko's Florence Copper production test facility is fully operational, from the wellfield to the SX/EW plant, and producing copper. Over the past three months approximately 1.5M tons of copper ore has been contacted underground with leach solution. Copper concentrations in the solution has recently risen to levels which have allowed the SX/EW plant to begin operation and produce copper.

08:31 EDT Puhui Wealth announces strategic cooperation agreement with Hongtang Culture - Puhui Wealth Investment Management announced it has entered into a Strategic Cooperation Agreement with Hongtang Culture Investment on March 28,2019, to jointly offer asset allocation/management services that benefit clients of both firms and further enhance brand recognition. The company intends to cooperate with Hongtang Culture to jointly offer asset management services to each firm's collective clients.

08:26 EDT Merck KGaA to acquire Versum Materials for $53 per share - Merck KGaA (MKGAY) has signed a definitive agreement to acquire Versum Materials (VSM) for $53 per share in cash. The business combination has been unanimously approved by the executive board of Merck KGaA and by Versum's board. The agreed upon price reflects an enterprise value for Versum of approximately EUR 5.8B, implying an EV/2019 EBITDA multiple of approximately 13.7x based upon consensus estimates and a pro-forma multiple of 11.6x including EUR 75M of identified annual run-rate cost synergies. The business combination is expected to be immediately accretive to EPS pre and accretive to reported EPS in the third full year after closing. Versum's board, in consultation with its legal and financial advisors, has unanimously determined that this business combination constitutes a "Superior Proposal" as defined in Versum's previously announced merger agreement with Entegris (ENTG), and Versum has terminated the merger agreement with Entegris concurrently with the execution of the definitive agreement with Merck KGaA, Darmstadt, Germany. The transaction is expected to close in the second half of 2019, subject to the approval of Versum stockholders at a Versum special meeting, regulatory clearances and the satisfaction of other customary closing conditions. The applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, for U.S. antitrust purposes has already expired.

08:18 EDT Merck KGaA to acquire Versum Materials for $53M per share

08:12 EDT Argo Group: Voce Capital proxy contest to 'push its short-term agenda' - The Argo Group International Holdings filed definitive proxy materials with the Securities and Exchange Commission in connection with Argo's Annual Meeting of Shareholders, which is scheduled to be held on May 24, 2019. Argo shareholders of record as of the close of business on March 11, 2019 will be entitled to vote at the Annual Meeting. In conjunction with the definitive proxy filing, Argo is sending a letter from the independent directors of Argo's Board of Directors to Argo's shareholders, which says, in part: "As you may know, Voce Capital has accumulated a position in our Company over the past few months and launched a proxy contest against Argo to push its short-term agenda. Similar to other activist campaigns initiated by Voce Capital, the firm's principal, J. Daniel Plants, has put forward a series of poorly researched claims with little regard for the truth. In spite of these tactics, our Board has made efforts to engage directly with Mr. Plants as well as Voce Capital's director nominees, only to have Voce Capital cancel or refuse our requests for meetings. We have always encouraged shareholder engagement, and now we need your support to prevent the short-term interests of an activist hedge fund from disrupting the steady growth and superior shareholder returns you have come to expect. The Argo Board and management team have a proven track record of delivering value. The leadership and high standard of accountability exercised by your Board over time and its commitment to maintain a cohesive corporate strategy and management team have been core strengths of your Company. These dynamics have played key roles in driving superior shareholder returns over time."

08:09 EDT Opko Health reports additional results from Phase 2 OPK-88003 trial - Opko Health reported additional results from the per protocol patient population from the Phase 2 dose escalation trial of OPK-88003 to treat type 2 diabetes and obesity. Topline data were previously reported on March 21 for the modified intent to treat, or mITT, patient population using the mixed model repeated measures, or MMRM. The mITT population included all patients that received at least one dose of drug and had one post-baseline evaluation. In the mITT population OPK-88003 showed a strong, clinically meaningful reduction in HbA1c at 30 weeks of -1.30% in the treated group from baseline and -0.09% in the placebo group. Patients treated with OPK-88003 achieved a weight loss from baseline at 30 weeks, -4.4 kg, compared to placebo, -1.8 kg. Following further analyses in the per protocol population, which includes all patients that received treatment with OPK-88003 for at least 26 weeks of the 30-week trial, the decrease in HbA1c and the increase in weight loss were more pronounced compared to the mITT patient population. The reduction in HbA1c at 30 weeks was -1.47% in the treated group, and -0.25% in the placebo group. Additionally, in the per protocol population the weight loss was -5.5 kg in the treated group, and -1.9 kg in the placebo group. OPK-88003 treatment was more effective in patients who received drug for at least 26 weeks and were compliant with the protocol for the duration of the trial. Similarly, other efficacy parameters improved in the per protocol population such as percentage of patients achieving less than 6.5% HbA1c, percentage of patients achieving weight loss greater than 5% and decrease in serum level of triglycerides. This Phase 2b trial evaluated the effects of a dose-escalation regimen of OPK-88003 on HbA1c, weight loss and safety over 30 weeks in adult type 2 diabetes patients with inadequate glucose control with metformin and/or diet and exercise. A total of 113 type 2 diabetics were enrolled and randomized into two arms; OPK-88003 and placebo, at a ratio of 1.75:1. The trial included a volume-matched placebo arm and an OPK-88003 treated arm, starting with 20 mg for 4 weeks, then 40 mg for 4 weeks, and finally, a target dose of 70 mg for 22 weeks. The Phase 2b dose escalation trial demonstrated that the once weekly OPK-88003 provided competitive clinical data. Opko is planning to further evaluate OPK-88003 in a Phase 3 clinical program in type 2 diabetes and obesity, as well as in other promising indications such as NASH. Similarly, other efficacy parameters improved in the per protocol population such as percentage of patients achieving less than 6.5% HbA1c, percentage of patients achieving weight loss greater than 5% and decrease in serum level of triglycerides. This Phase 2b trial evaluated the effects of a dose-escalation regimen of OPK-88003 on HbA1c, weight loss and safety over 30 weeks in adult type 2 diabetes patients with inadequate glucose control with metformin and/or diet and exercise. A total of 113 type 2 diabetics were enrolled and randomized into two arms; OPK-88003 and placebo, at a ratio of 1.75:1. The trial included a volume-matched placebo arm and an OPK-88003 treated arm, starting with 20 mg for 4 weeks, then 40 mg for 4 weeks, and finally, a target dose of 70 mg for 22 weeks. The Phase 2b dose escalation trial demonstrated that the once weekly OPK-88003 provided competitive clinical data. Opko is planning to further evaluate OPK-88003 in a Phase 3 clinical program in type 2 diabetes and obesity, as well as in other promising indications such as NASH.

08:06 EDT ADW Capital to host meeting to discuss Select Interior Concepts 'mismanagement' - Adam Wyden of ADW Capital Partners is reminding all shareholders of Select Interior Concepts that it is holding its own investor meeting to discuss the "mismanagement" of the company. ADW said, "ADW urges all shareholders NOT TO VOTE their shares at SIC's upcoming annual meeting to prevent SIC from obtaining a quorum for this meeting. If SIC is unable to obtain a quorum for the meeting, SIC will be unable to approve any of the items on the agenda, including the re-election of directors and a new option plan for Management and the Board. It is not enough to simply do nothing. You must call your Broker and specifically tell them that you do not want your shares voted or included in quorum. Your Broker must then call the Transfer Agent and make sure your shares are not voted automatically. It is important that you do this so the company's Board and Management do not continue to behave with this level of indifference and naivete while value is ignored and our cost of capital is being impaired. We find it interesting the shares seem to find a way to go down when other housing/building related stocks go up. We also find it puzzling when other shareholders ask us why the company has not responded to our letters. Why haven't you? Do you not want to create value for shareholders? It seems as if the stock only goes up when our letters come out? Maybe the market is telling you what it wants? Instead of voting, ADW encourages shareholders to instruct their brokers NOT TO VOTE and attend a meeting of SIC shareholders that ADW will be hosting in Atlanta on May 14 at 7:30 PM at the Four Seasons Hotel in the Callaway Room. The ADW meeting will be the evening before the company's annual meeting and will serve as a venue to discuss the mismanagement of SIC and how shareholders can try to assert their shareholder rights to unlock the value of the company's assets."

08:03 EDT Marathon Petroleum to acquire terminal, retail locations in Buffalo, New York - Marathon Petroleum announced that its wholly owned subsidiaries, including Speedway, have entered into a definitive purchase agreement to acquire a 900,000-barrel capacity light product and asphalt terminal and 33 NOCO Express retail stores in Buffalo, New York, from NOCO. The transaction is subject to standard regulatory approvals, customary due diligence, and other closing conditions.

07:54 EDT FameWave to collaborate with Bristol-Myers to evaluate CEACAM1 with nivolumab - FameWave, which is being acquired by Kitov Pharmaceuticals (KTOV), announced the signing of a clinical collaboration with Bristol Myers (BMY) to evaluate the combination of CM-24, FameWave's monoclonal antibody targeting the novel immune checkpoint carcinoembryonic antigen-related cell adhesion molecule 1, or CEACAM1, with nivolumab, a PD-1 inhibitor, in patients with non-small cell lung cancer, or NSCLC. FameWave and Bristol Myers Squibb will coordinate on the protocol design for the Phase 1/2 clinical trial in a well-defined patient population with NSCLC. Under the terms of the agreement, FameWave will fund and sponsor the study and Bristol Myers Squibb will supply nivolumab.

07:40 EDT Biogen to present SMA, NURTURE data at MDA - Biogen announced it will present new data illustrating the progressive nature of spinal muscular atrophy, or SMA, in adults, adolescents and older children at the Muscular Dystrophy Association, or MDA. Other Biogen presentations will highlight the benefits of pre-symptomatic treatment with data from the NURTURE study, part of the Spinraza global clinical trial program and findings on the role of neurofilament as a potential biomarker for predicting motor function in SMA. Adults with later-onset spinal muscular atrophy SMA who are not being treated show increased rates of hospital admissions, clinical interventions and mortality, indicating an unmet medical need. Infants with pre-symptomatic SMA treated with Spinraza achieve motor milestones that are more consistent with normal development, with 100% sitting independently as reported in the NURTURE study. Additional data show that neurofilament, a protein that helps brain neurons maintain their structure, could be a biomarker for SMA and may predict improvement in motor function and disease activity.

07:34 EDT Alliance Data reports March net charge offs 6.3% vs. 6.3% last month - Reports March delinquency rate 5.2% vs. 5.67% last month.

07:02 EDT McDermott awarded offshore EPCI jackets contract by Qatargas - McDermott International announced a large contract award from Qatargas for engineering, procurement, construction and installation for expansion of the North Field offshore facilities in the State of Qatar. The contract for new facilities includes the full suite of EPCI services for eight new offshore jackets. McDermott plans to use its project management and engineering teams in Doha, Qatar, with fabrication primarily taking place at McDermott's facilities in Batam, Indonesia. Vessels Derrick Barge 50 and Derrick Barge 27 from McDermott's global fleet are scheduled to undertake the installation and completions work. The work is expected to begin immediately and will be booked into McDermott's second quarter 2019 backlog. McDermott defines a large contract as between $50M and $250M.

06:58 EDT TRACON Pharmaceuticals terminates Phase 3 TAPPAS trial for futility - TRACON Pharmaceuticals announced that its Phase 3 TAPPAS trial evaluating TRC105 in combination with Votrient in patients with advanced or metastatic angiosarcoma was terminated for futility based on the recommendation of the Independent Data Monitoring Committee following its review of interim unblinded safety and efficacy data from more than 120 patients enrolled in the trial at the time of the analysis. TRACON will work with investigators to appropriately conclude the study in a manner consistent with the best interests of each patient. Data from this study will be analyzed and submitted for presentation at an upcoming scientific congress.

06:51 EDT JPMorgan reports Q1 FICC sales & trading revenue $3.73B

06:50 EDT JPMorgan reports Q1 AUM $2.1T, up 4%

06:48 EDT Mallinckrodt subsidiary completes patient enrollment for StrataGraft trial - Stratatech, a Mallinckrodt company, has completed patient enrollment in its ongoing pivotal Phase 3 clinical trial of StrataGraft, an investigational regenerative skin tissue. The multicenter study is evaluating the efficacy and safety of StrataGraft in the promotion of autologous skin regeneration of complex skin defects due to severe thermal burns that contain intact dermal elements. The safety and effectiveness of StrataGraft have not yet been established by the FDA. Investigators enrolled 71 patients across 12 clinical sites. As a result of achieving this enrollment milestone, Mallinckrodt expects top-line data to be available by the end of the year, following collection of follow-up data on the study's co-primary endpoints. The company anticipates submitting a Biologics License Application, or BLA, in 2020 with the FDA if data from the Phase 3 trial of StrataGraft regenerative skin tissue are supportive. The FDA has granted StrataGraft orphan drug status, and it was also among the first products designated by the agency as a regenerative medicine advanced therapy under the provisions of the 21st Century Cures Act.

06:21 EDT Spring Bank Pharmaceuticals presents results from ACHIEVE trial at ILC - Spring Bank Pharmaceuticals announced at The International Liver Congress, or ILC, results from the recently completed inarigivir Phase 2 dose escalation ACHIEVE trial for patients with chronic hepatitis B viru, or HBV. Spring Bank is developing inarigivir, an orally-administered hepatic-selective immunomodulator, as a potential backbone in a combinatorial treatment for chronic HBV with the goal to accelerate and substantially increase chronic HBV functional cure rates in a simple, safe and selective manner. In an oral presentation the company presented top-line results from all cohorts including the final 200mg dosing cohort. The data show that inarigivir continued to demonstrate a dose-dependent effect on HBV DNA and HBV RNA in the fourth cohort of the ACHIEVE trial over the 12-week dosing period. Inarigivir 200mg monotherapy dosing exhibited a mean decrease of 1.54log in HBV DNA with a range of 0.71log to 3.26log and a mean decrease of 1.14log in HBV RNA with a range of 0.08log to 4.88log. Inarigivir 200mg monotherapy showed a uniform antiviral response in all patients, in particular the high viral burden HBeAg-positive patients who had not responded to the lower doses of inarigivir monotherapy in the earlier ACHIEVE cohorts. In addition, across all patients HBV DNA and HBV RNA responses correlated with baseline HBsAg, baseline IP-10 and the decline of IP-10 at week 12, comparable to the clinical experience with interferon in chronic HBV. Across all four dosing cohorts, 16 of the 62 evaluable patients treated with inarigivir had a 0.5log or greater reduction in HBsAg at week 12 or week 24 and were categorized as responders. The mean reduction of HBsAg in this responder population was 0.8log with a range of 0.5log to 1.4log. Importantly, the HBsAg response to inarigivir in the ACHIEVE trial was genotype and host dependent. Although the number of patients was small, the HBsAg response seen in Genotype A and D was "excellent" with 4 of 5 patients responding. Genotype B and C were the most common genotypes and 33% of genotype B responded compared to 10% of genotype C. Two of the 3 genotype C patients that responded received 200mg inarigivir dose and belonged to the higher viral burden HBeAg-positive group. This amplified HBsAg response observed with inarigivir in genotype B compared to genotype C is comparable to the clinical experience of the immunomodulator interferon in the treatment of chronic HBV. The overall data from the ACHIEVE trial also revealed evidence of a shutdown of viral transcription by inarigivir in HBeAg-negative patients where HBV RNA was undetectable at week 12 in all patients treated with inarigivir at the 50mg, 100mg, and 200mg doses with a concomitant undetectable HBcrAg in the majority of these patients. At week 24, the HBV RNA and HBcrAg response was sustained with the switch to tenofovir disoproxil fumarate 300mg and associated with 18 of the 22 HBeAg-negative patients also having undetectable HBV DNA. Inarigivir was shown to be well tolerated at all doses in the ACHIEVE trial. Treatment-emergent adverse events ranged from mild to moderate in severity, with no investigator determined interferon-like side effects. The percentage of treatment-emergent adverse effects reported in the ACHIEVE trial was similar between the active and placebo groups. In the fourth cohort, one Grade 3 event was observed, but was not sustained on retesting, and there was one serious adverse event for knee pain hospitalization reported, but this patient was dosed with placebo. There were no other clinical or biochemical events above Grade 3 during the ACHIEVE trial. Spring Bank also announced the results from a healthy volunteer study that examined the potential for the use of the 400mg dose of inarigivir in chronic HBV patients. The results from this study revealed that inarigivir 400mg rapidly and uniformly increased activation markers of innate immunity on circulating peripheral monocytes and dendritic cells which was sustained over a ten-day period of dosing without evidence of tolerance. There was an associated activation of CD8+ t-cells and down-regulation of NK cells resulting in a potentially favorable adaptive immune profile for an antiviral response. The results from this study also demonstrated a lack of systemic cytokine activation secondary to the intra-hepatic targeting of inarigivir resulting in a favorable tolerability profile. These compelling immune-activation data for inarigivir, together with the dose-dependent effects on HBV DNA and HBV RNA and favorable tolerability profile observed up to 200mg daily in the ACHIEVE trial, serve as the basis for the recent launch of the Spring Bank global CATALYST trials in both treatment-naive and virally-suppressed chronic HBV patients. The CATALYST trials will focus on the examination of the 400mg dose of inarigivir.

06:16 EDT Anadarko up 33.7% following announcement of acquisition by Chevron - Chevron (CVX) is down 2.4% in pre-market trading.

06:11 EDT Chevron sees Anadarko deal accretive to free cash flow, EPS a year after closing - Chevron (CVX) expects the transaction to be accretive to free cash flow and earnings per share one year after closing, at $60 Brent.

06:10 EDT Chevron expects to achieve run-rate cost synergies of $1B before tax - Chevron (CVX) announced the transaction to acquire Anadarko (APC) is expected to achieve run-rate cost synergies of $1B before tax and capital spending reductions of $1B within a year of closing.

06:07 EDT Chevron acquisition of Anadarko structured as 75% stock, 25% cash - The acquisition consideration is structured as 75% stock and 25% cash, providing an overall value of $65 per share based on the closing price of Chevron (CVX) stock on April 11. In aggregate, upon closing of the transaction, Chevron will issue approximately 200M shares of stock and pay approximately $8B in cash. Chevron will also assume estimated net debt of $15B. Total enterprise value of $50B includes the assumption of net debt and book value of non-controlling interest. The transaction has been approved by the boards of both companies and is expected to close in the second half of the year. The acquisition is subject to Anadarko (APC) shareholder approval. It is also subject to regulatory approvals and other customary closing conditions. Upon closing, the company will continue be led by Michael Wirth as chairman and CEO. Chevron will remain headquartered in San Ramon, California.

06:06 EDT Arrowhead presents preclinical RNAi therapy data at ILC - Arrowhead presented preclinical data at The International Liver Congress, or ILC, demonstrating that sustained reduction of mutant Z-AAT protein by RNA interference, or RNAi, reversed the alpha-1 antitrypsin deficiency, or AATD, disease phenotype in the PiZ mouse model. Arrowhead has completed a Phase 1 clinical trial of ARO-AAT, the company's second generation subcutaneously administered RNAi therapeutic being developed as a treatment for AATD-related liver disease. Pending regulatory clearance, Arrowhead intends to initiate an adaptive Phase 2/3 trial with the potential to serve as a pivotal registrational study. In the study presented at ILC, PiZ mice were treated with ARC-AAT for 33 weeks. Measurements of plasma Z-AAT levels, Z-AAT protein accumulation in the liver and expression of genes previously implicated in liver injury and development of fibrosis were taken. In addition, histological evaluations of globules and inflammation and an ultrastructural evaluation of the liver by electron microscopy were performed. Sustained RNAi reduction of Z-AAT reversed the AATD disease phenotype.

06:00 EDT Chevron to acquire Anadarko for $65 per share or $33B

05:22 EDT Cnooc signs PSC with Smart Oil - CNOOC announced that its parent company, China National Offshore Oil Corporation, has signed a production sharing contract, or PSC, with Smart Oil Investment for Bohai 09/17 Block. Bohai 09/17 Block is located in the Qikou sag, Bohai Bay Basin in China. It covers a total area of 509.3 square kilometers with a water depth of 5-10 meters. According to the terms of the PSC, Smart Oil shall act as the Operator during the exploration period and conduct exploration activities in the block mentioned above, in which all expenditures incurred will be borne by Smart Oil. Once entering the development phase, CNOOC has the right to participate in up to 51% of the participating interest in any commercial discoveries of the Bohai 09/17 Block. After signing the above-mentioned PSC, except for those relating to CNOOC's administrative functions, CNOOC will assign all of its rights and obligations under the PSC to CNOOC China Limited, a subsidiary of CNOOC Limited.

05:17 EDT Applied DNA Sciences signs MOU with Stahl - Applied DNA Sciences announced the signing of a non-binding Memorandum of Understanding, or MOU, with Netherlands-based Stahl. The MOU is expected to be followed by a definitive agreement. Under the terms of the MOU, the parties will continue the evaluation of molecular tagging of process chemicals and coatings utilizing Stahl's product offerings as a point of entry into supply chains for the company's molecular tags. Stahl will provide technical expertise to the company relating to the process chemicals used in leather manufacturing.