Stockwinners Market Radar for April 22, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:16 EDT LogicBio Therapeutics' methylmalonic acidemia treatment gets FDA orphan status - The FDA has grated an orphan designation status for LogicBio Therapeutics' treatment of methylmalonic acidemia. Reference Link

18:52 EDT PG&E submits updated financing proposal for safety, reliability investments - Pacific Gas and Electric Company filed its Cost of Capital proposal with the California Public Utilities Commission designed to make sure PG&E is meeting the energy needs of its customers by attracting the critical funding necessary to invest in and increase the safety and reliability of its energy system, while also addressing the heightened risks of California's year-round wildfire season. Over the next four years, PG&E expects to fund up to $28B in energy infrastructure investments. Among the critical investments the Cost of Capital would support: $21B towards electric and gas safety and reliability and increased system hardening; $4B towards new gas pipelines and electric powerlines; $1B toward power generation, and; $2B toward information technology, equipment, and other facilities. The company is working with regulators, policymakers and other stakeholders to develop shared solutions to address the current financial impacts of extreme weather and wildfires facing all Californians. PG&E understands that any increase to customers' rates can be significant and that this approach is neither the best nor preferred solution to the current crisis. The Governor recently issued a report including key principles intended to preserve the financial health of California's energy companies and safeguard the state's energy future, while the Commission on Wildfire Cost and Recovery is expected to release specific recommendations by July 1 on how to more equitably assign the financial risks associated with wildfire. "PG&E is committed to working collaboratively with all parties to reach a sustainable, and equitable, policy solution to the current situation," the company said. "If such a solution is reached, PG&E is committed to amending its application with an updated Cost of Capital, decreasing the impact on customer bills." The Cost of Capital is how much a company is allowed to charge in rates as a return on invested capital and is subject to an open and transparent public review and approval by the CPUC, the company said. PG&E added it strongly supports and encourages its customers to provide feedback and participate in this important process which will help shape customer rates and California's energy future. If approved by the CPUC, PG&E's proposal would update the current return on equity from 10.25% to 16%. PG&E is proposing a $1.2B increase in its currently approved Cost of Capital, based on a 16% return on equity. Approval of the request would result in a monthly bill increase for the average residential electric non-CARE customer of $7.85, or an increase of 7%. For the average residential gas customer, the monthly bill impact would be $4.25, or a 7.7% increase. If approved, the change in customer bills would be effective Jan. 1, 2020.

18:16 EDT Contura Energy announces departure of CEO Kevin Crutchfield - Contura Energy announced that its CEO, Kevin Crutchfield, will be leaving his role as CEO, effective May 6, in order to pursue an opportunity outside of the coal industry, which is expected to be announced shortly. Crutchfield's departure is not the result of any dispute or disagreement with the company or any matter related to the company's operations, policies, management, or board of directors. The board has launched a search process to identify a replacement for Crutchfield.

17:47 EDT Enterprise Financial board raised dividend to 15c per share - The company's Board of Directors approved a quarterly dividend of 15c per common share, an increase from 14c for the prior quarter, payable on June 28 to shareholders of record as of June 14.

17:21 EDT First Commonwealth to acquire 14 branches from Santander - First Commonwealth Financial Corporation (FCF) announced that its banking subsidiary, First Commonwealth Bank, has signed a definitive agreement to acquire 14 branches located in State College, Lock Haven, Williamsport and Lewisburg, Pennsylvania, with approximately $525M of deposits and $120M of retail and business loans, as of March 31, 2019, from Santander Bank (SAN). The transaction is subject to regulatory approval and is expected to close in Q3.

17:10 EDT Presbia trading resumes

17:06 EDT Universal Logistics buys Michael's Cartage, terms not stated - Universal Logistics announced its acquisition of Chicagoland-based Michael's Cartage. Offering a "blend of company-owned and owner-operator provided capacity", Michael's optimizes its fleet of over 130 tractors to provide intermodal drayage services primarily within a 300-mile radius of the Chicagoland area. In 2018, Michael's reported total operating revenues of $31.1M. Universal expects Michael's to operate as a subsidiary of Universal Intermodal, and the transaction should be immediately accretive.

17:06 EDT Range Resources sees Q2 production 2,270 to 2,280 Mmcfe per day - Sees direct operating expense 16c-18c per mcfe and transportation, gathering, processing and compression expense $1.47-$1.51 per mcfe.

17:04 EDT Northwest Pipe announces Saginaw facility damaged by accidental fire - Northwest Pipe announced that there was an accidental fire at its Saginaw, Texas facility which resulted in damage to the coatings building. "Thankfully, there were no injuries, but the ability to coat at our Saginaw facility will be impaired while we assess and repair the damage," said Scott Montross, president and CEO of the company. "Fortunately, we have multiple production locations that can be deployed to absorb whatever lost production we have at our Saginaw facility." The company has insurance coverage in place covering among other things, property damage and business interruption, up to certain specified amounts and has notified its insurers of the incident.

17:03 EDT Brown & Brown reports Q1 EBITDAC $197.1M vs. $156.7M last year

17:02 EDT Bio-Rad names Andrew Last as COO, effective April 22 - Bio-Rad (BIO) announced the appointment of Dr. Andrew Last as Executive Vice President and COO, effective April 22. In this role, Dr. Last is responsible for all operating functions of the company on a global basis. Most recently he served as Chief Commercial Officer at Berkeley Lights. Prior to that he was COO at Intrexon (XON).

16:53 EDT Emerge Energy enters into a restructuring support agreement with its subsidiary - Emerge Energy Services announced that it has entered into a restructuring support agreement with its operating subsidiary Superior Silica Sands and the Partnership's other subsidiaries, its general partner, direct and indirect equity holders of Emerge GP, the lenders under Emerge Energy's revolving credit facility, and the noteholders under Emerge Energy's second lien note purchase agreement. As set forth in the RSA, the parties thereto have agreed to the principal terms of a proposed financial restructuring of Emerge Energy, which will be implemented through an out-of-court restructuring or, in the event that the special restructuring committee of the board of directors of Emerge GP determines in good faith that the out-of-court restructuring is no longerreasonably possible or in the best interests of Emerge Energy and its stakeholders, an in-court reorganization implemented in one or more cases filed under Title 11 of the U.S. Code. Under the out-of-court restructuring, Emerge Energy's obligations under the revolving credit agreement will be paid in full. Noteholders under the note purchase agreement will receive new second lien secured notes and pro rata ownership interests in new common units representing a 95% limited partner interest in the Partnership. Existing common unitholders of the Partnership will receive new common units. The RSA will terminate if the Transaction is not consummated in accordance with the RSA by December 31 or if the parties otherwise agree in writing. A party may also terminate the RSA upon a material breach by another party of its obligations under the RSA.

16:50 EDT Celanese reports Q1 EBIT $421M vs. $474M last year - Reports Q1 operating EBITDA $502M vs. $553M last year.

16:42 EDT Tesla CEO sees Robotaxis on the road in 2020 - Says cost of Robotaxi less than $38,000 per vehicle. Says motor energy efficiency of Robotaxi 4.5 miles per kilowatt hour. Says 1M miles longevity of a Robotaxi vehicle.

16:38 EDT Presbia trading halted, news pending

16:33 EDT Genuine Parts CEO Paul Donahue to also serve as board chairman - Genuine Parts announced that its board has appointed Paul Donahue as Chairman. Donahue has served as President and CEO of Genuine Parts since May 1, 2016. He will continue as CEO and, effective today, add the position of Chairman.

16:30 EDT Guess down 3.9% at $16 per share after cutting its dividend

16:26 EDT Regional Health Properties not in compliance with NYSE listing rules - Regional Health Properties made an announcement concerning the Company's noncompliance with the continued listing standards of NYSE American. On April 17 the Company received an official notice of noncompliance from the Exchange stating that the Company is not in compliance with the Exchange's continued listing standards under the timely filing criteria outlined in Section 1007 of the Exchange's Company Guide because the Company failed to timely file its Annual Report on Form 10-K for the year ended December 31, 2018 which was due to be filed with the SEC no later than April 16. If the Company fails to cure the Filing Delinquency within the Initial Cure Period, the Exchange may, in its sole discretion, allow the Company's securities to be traded for up to an additional six-month period, depending on the Company's specific circumstances. If the Exchange determines that an Additional Cure Period is not appropriate, suspension and delisting procedures will commence in accordance with the procedures set forth in Section 1010 of the Company Guide. In the interim, the Company's securities will continue to be listed on the Exchange, subject to the Company's compliance with other continued listing requirements, and the Company's common stock and preferred stock will continue to trade under the symbols "RHE" and "RHE PRA," respectively.

16:22 EDT American Electric: Purchase of wind assets from Sempra 'immediately accretive' - American Electric Power (AEP) announced that its competitive renewable energy subsidiary, AEP Clean Energy Resources, has completed the purchase of Sempra Renewables and its 724 megawatts of operating wind generation and battery assets for approximately $1.05B. AEP will pay Sempra (SRE) $584M in cash, which includes $33M in working capital, and assume $470M in existing project debt and tax equity obligations, subject to adjustments. The purchase includes all or part of seven wind farms and one battery installation in seven states. Five of the wind farms are jointly owned with BP Wind Energy. BP Wind Energy will retain its ownership share of those projects. Twenty employees will join AEP Clean Energy Resources from Sempra Renewables. "The addition of these high-quality renewable assets and the experience of our new employees will support our long-term strategy to diversify our generation fleet. We've targeted a total of $2.2 billion in capital investment in competitive, contracted renewables by 2023. The long-term contracts and attractive returns associated with these existing assets will be immediately accretive to earnings and solidify our projected 5 to 7 percent earnings growth rate," said Nicholas Akins, AEP chairman, president and CEO. AEP reaffirms its 2019 operating earnings guidance range of $4.00-$4.20 per share, consensus $4.12.

16:19 EDT Veracyte gets regulatory authorization to offer Envisia Genomic Classifier in NY - Veracyte announced that it has received regulatory authorization from the New York State Department of Health to offer the Envisia Genomic Classifier for patients in the state effective immediately. The genomic test is the first commercially available test to help distinguish idiopathic pulmonary fibrosis from other interstitial lung diseases, without the need for surgery.

16:18 EDT Northern Oil and Gas to acquire Williston Basin properties of VEN Bakken - Northern Oil and Gas, Inc. announced that it has entered into a definitive agreement to acquire the Williston Basin properties of VEN Bakken, LLC. Seller is a wholly-owned subsidiary of Flywheel Bakken, LLC, a portfolio company of the Kayne Private Energy Income Funds. The assets to be acquired are expected to produce approximately 6,600 barrels of oil equivalent per day during the second half of 2019 and consist of approximately 18,000 net acres containing 86.9 net producing wells, 2.7 net wells in process, and 47.5 net undrilled locations across the heart of the Williston Basin. The Assets are expected to generate approximately $44.9 million in cash flow from operations during the second half of 2019, with an estimated second half capital expenditure budget of $15.6 million. Total consideration to be paid to Seller consists of $165 million in cash, a $130 million 6% three-year senior unsecured note due 2022 and approximately 5.6 million shares of Northern's common stock. The cash and note portions of the consideration are subject to typical closing and post-closing adjustments. The transaction is expected to close and be effective on July 1, 2019.

16:17 EDT JMP Group announces extension of share repurchase program - JMP Group LLC announced that its board of directors has extended the term of the company's share repurchase program through June 30, 2019. The current repurchase program was initially authorized on December 13, 2017, and allowed for the repurchase of up to one million of JMP Group's outstanding common shares during 2018. On December 3, 2018, the company's board of directors extended the repurchase program through April 30, 2019. As of the close of the market on April 18, 2019, 132,395 of the company's common shares remained to be repurchased. With the further extension of the existing program, those shares are now eligible to be repurchased through June 30, 2019. Under the company's repurchase program, JMP Group may purchase its common shares from time to time in the open market or through privately negotiated transactions. The timing, volume and nature of any common share repurchases will be at the sole discretion of management, will be dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time.

16:16 EDT Whirlpool CEO says 'we delivered another strong quarter' - "We delivered another strong quarter with margin expansion and record first-quarter earnings per share despite a soft demand environment in several countries," said Marc Bitzer, chairman and CEO of Whirlpool. "Successful execution of price increases and sustained focus on cost discipline drove very positive results in the first quarter, and provide confidence in our ability to deliver our full-year financial goals."

16:15 EDT Whirlpool sees FY19 CapEx approximately $625M

16:14 EDT Whirlpool CFO says 'on track' to meet FY earnings, cash flow guidance - "In addition to our seasonal cash usage in the first quarter, we increased our quarterly dividend for the seventh consecutive year and repurchased additional common stock," said Jim Peters, CFO of Whirlpool. "We are on track to meet our strong earnings and cash flow guidance for the year, which will allow us to fully invest in our business, strengthen our balance sheet and return strong levels of cash to shareholders."

16:09 EDT OrthoPediatrics announces licensing partnership with CoorsTek Medical - OrthoPediatrics Corp. announced a sublicense agreement with CoorsTek Medical for rights to its Variable-Angle technology that will be commercialized in OrthoPediatrics' PediFoot system expected to launch later this year.

16:08 EDT Rambus sees Q2 adjusted operating costs and expenses $69M-$65M

16:06 EDT Facebook names State Department's Jennifer Newstead as General Counsel - Facebook announced that Jennifer Newstead will join the company as General Counsel, overseeing the company's global legal functions. Newstead succeeds Colin Stretch, who announced in July 2018 that he planned to leave. He will continue at Facebook through the summer to help with the transition, the company said in a statement. Newstead currently serves as the Legal Adviser to the United States Department of State, overseeing work on all domestic and international legal issues affecting the conduct of U.S. foreign policy. She was confirmed by the Senate in December 2017 and before joining the State Department was a partner in the law firm of Davis, Polk & Wardwell LLP. Facebook has also named John Pinette as Vice President of Global Communications, succeeding Caryn Marooney, who in February announced her plans to leave. Pinette most recently seved as the VP of Marketing and Communications at Vulcan, the philanthropic, technology and business organization established by Microsoft co-founder Paul Allen.

15:38 EDT Noble Energy raises quarterly dividend 9% to 12c per share - The board of directors of Noble Energy declared a quarterly dividend of 12c per common share, which the company said represents a 9% increase from the prior quarter. The dividend is payable on May 20 to the shareholders of record at the close of business on May 6.

15:24 EDT Chinese Starbucks competitor Luckin Coffee files for U.S. listing - According to the filing statement er F-1, required for the registration of certain securities in the U.S. by foreign issuers, Luckin Coffee said: "We offer premium coffee and other high-quality products to our customers. We source premium Arabica coffee beans from prominent suppliers and engage World Barista Champion teams to design our coffee recipes. We procure coffee machines and coffee condiments from renowned global suppliers such as Schaerer. Our coffee has won numerous awards, including most recently the Gold Medal in the 2018 IIAC International Coffee Tasting competition. We also partner with reputable suppliers for our other products such as juices and light meals. Due to our scale, we are able to procure high-quality products from our suppliers at favorable prices. Since inception, we have successfully built a brand of distinguished value propositions-high quality, high affordability and high convenience. We have also been able to cultivate a large and loyal customer base and achieve strong growth. Within 18 months, we expanded from a single trial store in Beijing to 2,370 stores in 28 cities in China as of March 31, 2019. We had over 16.8 million of cumulative transacting customers as of March 31, 2019. In addition, our customer repurchase rate in 2018 was over 54%. China's coffee market is highly underpenetrated. Inconsistent qualities, high prices and inconvenience have hampered the growth of the freshly brewed coffee market in China. We believe that our model has successfully driven the mass market coffee consumption in China by addressing these pain points. We aim to become the largest coffee network in China, in terms of number of stores, by the end of 2019." The company's NASDAQ trading symbol will be.LK.

15:07 EDT All Tesla cars being produced have all necessary for full self-driving - Says people will be saving money by switching to this solution. Says performance also increased. "Night and day" difference, CEO Elon Musk says during the company's Autonomy Day event. All cars being produced by Tesla have this technology, Musk adds.

14:59 EDT Tesla highlights security of FSD computer - Says if software is not authorized by Tesla, chip will not run. At Tesla's Autonomy Day Event, Peter Bannon says size of CPU is in "sweet spot" between cellphone CPU size and high-end CPU size.

14:52 EDT Tesla presents full self-driving tech, provides look at self-driving computer - Pete Bannon, system architect for FSD, says Tesla started shipping the new self-driving computer with Model S and Model X earlier this year and in April for Model 3. The goal was to be able to retrofit existing cars, lower costs. Three years from start of FSD group to deployment of HW3 in all three Tesla cars.

14:26 EDT Washington AG says J&J to pay $9.9M to avoid trial over surgical mesh devices - Washington State Attorney General Bob Ferguson announced that Johnson & Johnson will pay $9.9M to avoid going to trial for misrepresentations and failure to include serious risks in the instructions and marketing materials for surgical mesh devices. Ferguson is the first state attorney general to file a lawsuit against Johnson & Johnson regarding surgical mesh devices. Approximately 14,000 Washington women had these devices implanted. While precise information is not available, the Attorney General's Office believes hundreds of those have been adversely impacted so far, ranging from having to go back for another procedure, to having their quality of life impacted dramatically. The trial was scheduled to begin today. In addition to paying $9.9M, the resolution prohibits Johnson & Johnson from making unfair or deceptive statements regarding surgical mesh, including statements about risks associated with the devices. If the company learns about new, significant risks associated with its surgical mesh, it must disclose those risks. Johnson & Johnson's promotional material must be truthful, accurate, and presented in a balanced way. Further, if Johnson & Johnson sponsors a study or research and cites that study or research in promotional materials, it must disclose its sponsorship.

14:03 EDT Rock Springs Capital reports 5.16% passive stake in PhaseBio - In a regulatory filing, Rock Springs Capital disclosed a 5.16% stake in PhaseBio, which represents 1.45M shares. The filing does not allow for activism.

14:02 EDT Energy Transfer, Phillips 66 Partners report Bayou Bridge open season - Energy Transfer LP (ET) and Phillips 66 Partners LP ((PSXP) announced that Bayou Bridge Pipeline, LLC, a joint venture owned by subsidiaries of Energy Transfer and Phillips 66 Partners, launched a non-binding expansion open season to solicit shipper interest for expanded joint tariff transportation service received from certain connecting carriers onto the Bayou Bridge Pipeline System. Bayou Bridge is evaluating joint tariff service from origin points in the Bakken/Three Forks Region in North Dakota; Patoka, Illinois; the Powder River Basin in Wyoming; the DJ Basin in Colorado; Cushing, Oklahoma; and the Permian Basin. Bayou Bridge is owned 60% by Energy Transfer and 40% by Phillips 66 Partners, and is operated by a wholly owned subsidiary of Energy Transfer Operating, L.P. In addition to the routes that are the subject of this non-binding expansion open season, Bayou Bridge also continues to evaluate additional Southern Louisiana destination points to increase optionality for shippers on the system. Information regarding these additional destinations will be provided to interested shippers upon request. Following a confirmation of shipper interest, Bayou Bridge will hold a binding expansion open season to finalize committed subscriptions. The incremental capacity that will be created on the various pipeline systems will be determined based on committed subscriptions made by shippers during the binding expansion open season.

13:31 EDT Sientra up 10% after FDA posts approval for new round styles of implants

12:46 EDT MSD Partners to acquire Boca Raton Resort & Club from Blackstone affiliate - MSD Partners, L.P. today announced that it has entered into a definitive agreement to acquire the Boca Raton Resort & Club from an affiliate of Blackstone (BX). Terms of the transaction, which is expected to close by the end of the second quarter, were not disclosed. The property will continue to be managed by Hilton (HLT) under the Waldorf Astoria Hotels & Resorts brand. Jeffrey Davis and Gregory Rumpel of JLL Hotels & Hospitality led the marketing efforts for the resort on behalf of the seller.

12:00 EDT Dillard's falls -8.4% - Dillard's is down -8.4%, or -$6.19 to $67.70.

12:00 EDT Permianville Royalty Trust falls -13.3% - Permianville Royalty Trust is down -13.3%, or -49c to $3.16.

12:00 EDT Pyxus rises 14.2% - Pyxus is up 14.2%, or $2.47 to $19.82.

11:57 EDT Axa reports 5.7% passive stake in Jumia Technologies - In a regulatory filing, Axa disclosed a 5.7% stake in Jumia Technologies, which represents about 9M shares. The filing does not allow for activism.

11:46 EDT FDA approves new dosage form of Amgen's Corlanor - Reference Link

11:09 EDT CBS announces multi-year television partnership with WNBA - The Women's National Basketball Association, or WNBA, and CBS Sports announced a multi-year partnership in which CBS Sports Network will televise live WNBA games beginning with the upcoming 2019 season. CBS Sports Network will feature national coverage of 40 live WNBA games in primetime and on weekends, beginning on Saturday, May 25, the broadcaster announced.

10:55 EDT PepsiCo making SodaStream-like sparkling water station - PepsiCo announced plans to launch a new sparkling water "hydration platform." Following PepsiCo's recent acquisition of SodaStream, the platform is the "next step along PepsiCo's Beyond the Bottle journey, which encompasses ways to deliver beverages without single-use plastic bottles. As the Beyond the Bottle strategy evolves, consumers can expect to see more PepsiCo beverage options delivered without single-use plastic bottles," PepsiCo said. Jim Andrew, EVP SodaStream and Beyond the Bottle Ventures, said, "This platform is a great example of how we are evolving our portfolio to provide more sustainable options for consumers to get personalized, great-tasting beverages." This year, PepsiCo will launch the platform at select workplaces, universities, and hospitality partners, with additional locations to follow in the near future.

10:15 EDT Kimberly-Clark sees FY19 commodity inflation $300M-$400M - Shares of Kimberly-Clark are up 7% to $132.18 in morning trading.

10:03 EDT Kimberly-Clark says commodities were $135M drag on quarter - Comments taken from the company's Q1 earnings conference call.

10:00 EDT Pyxus rises 8.5% - Pyxus is up 8.5%, or $1.47 to $18.82.

09:59 EDT ChinaCache discusses partnership with F5 Networks at partner event - In a blog post published over the weekend, ChinaCache (CCIH) reported that Wei Zhang, Vice President at ChinaCache, spoke about a partnership with F5 Networks (FFIV) during the F5 Networks Partner Conference held in Chengdu, China from April 11-12. "Guaranteeing network performance is ChinaCache's expertise, and F5 Networks' security solution is a great complement in terms of the scope of services. Our jointly built security service platform is armed with solid technical capabilities and will provide broader services," said Wei Zhang, according to the blog post. Reference Link

09:59 EDT Kimberly-Clark continues to see FY19 share repurchases $2B-$2.3B - Comments taken from slides being presented on the Q1 earnings conference call.

09:47 EDT Britannia Bulk falls -6.9% - Britannia Bulk is down -6.9%, or -38c to $5.10.

09:47 EDT GrafTech falls -10.6% - GrafTech is down -10.6%, or -$1.47 to $12.46.

09:47 EDT Key Energy rises 8.3% - Key Energy is up 8.3%, or 32c to $4.18.

09:45 EDT Trump says Saudi Arabia, others to 'more than make up' for lost Iranian oil flow - President Donald Trump tweeted: "Saudi Arabia and others in OPEC will more than make up the Oil Flow difference in our now Full Sanctions on Iranian Oil. Iran is being given VERY BAD advice by @JohnKerry and people who helped him lead the U.S. into the very bad Iran Nuclear Deal. Big violation of Logan Act?" Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link

09:28 EDT ACNB Corp increases quarterly dividend approximately 9% to 25c per share - The board of ACNB Corp approved and declared the payment of the regular quarterly cash dividend. The cash dividend of 25c per share is payable on June 14 to shareholders of record on May 31. This per share amount reflects a nearly 9% increase from 23c per share.

09:15 EDT Sterling Construction awarded $23M contract by UDOT - Sterling Construction announced that its subsidiary, Ralph Wadsworth Construction, has been selected by the Utah Department of Transportation, or UDOT, to perform construction work in the area of Exit 16 on I-15 in Washington County, UT near Zion National Park. The $23M job is expected to be completed late this year. The project will be executed in several phases in order to minimize its impact on traffic, given the heavy utilization of this I-15 interchange. Key elements of the job will include the excavation of approximately 200,000 cubic yards of soil and rock and laying 70,000 tons of asphalt paving. In addition, RLW will replace two bridges, as well as a number of retaining walls, in addition to making improvements to drainage, signage and landscaping.

09:08 EDT GlycoMimetics announces publication of paper supporting GMI-1359 clinical trial - GlycoMimetics announced the publication of a paper in Nature Cell Biology that describes how tumor cells engage specific stromal components, most notably E-selectin, for propagation and outgrowth. The paper provides further scientific support for the clinical trial in breast cancer patients with bone metastasis that was recently announced by GlycoMimetics. Specifically, Esposito et. al. identify an E-selectin ligand expressed on tumor cells that is necessary for inducing mesenchymal-epithelial transition and that drives metastatic progression within the bone marrow microenvironment. Of note, in preclinical animal models of human breast cancer, inhibition of E-selectin with GlycoMimetics' compound uproleselan prevented bone metastases progression and significantly attenuated bone metastases-associated bone degradation, resulting in a significant survival advantage in treated tumor-bearing mice. Previously published work also demonstrates a complimentary role for CXCR4. Together these observations support the testing of GMI-1359, GlycoMimetics' dual-function antagonist, which targets both mechanisms.

09:05 EDT Orgenesis to fund Columbia University cellular vaccination product platform - Orgenesis announced that it has entered into an agreement with Columbia University, by which it will fund research to develop a cellular vaccination product platform, which it has licensed from Columbia University, for pancreatic, hepatic and cholangiocarcinoma cancers. Orgenesis will receive exclusive license on the technology developed at Columbia University under the research agreement. This patented dual-vaccine design utilizes whole cancer cells as a source of antigens and the patient's dendritic cells and macrophages to present the cancer antigens to the immune system. It differs from similar approaches, which use dendritic cells pulsed with individual tumor-associated antigens or peptides. When individual tumor antigens are selected for targeting cancer cells it leaves a possibility that cancer cells will mutate and thus evade the immune system response. Conversely, targeting the entire repertoire of tumor cell antigens leaves little or no possibility for cancer cells to escape the immune system response.

09:04 EDT Kraft Heinz appoints Miguel Patricio as CEO, succeeding Bernardo Hees

08:50 EDT Teligent announces development partner responds to CRL from FDA - Teligent announced that its development partner has filed the response to the complete response letter, or CRL, it received regarding its pending abbreviated new drug application for its orphan drug target.

08:41 EDT Cadence Design enters collaboration with TSMC - Cadence Design (CDNS) announced that it has collaborated with TSMC (TSM) to enable customers' production delivery of next-generation system-on-chip, or SoC, designs for mobile, high-performance computing, or HPC, 5G and artificial intelligence, or AI, applications on TSMC's 5nm FinFET process technology. As part of the collaboration, the Cadence digital, signoff and custom/analog tools have been certified for Design Rule Manual, or DRM, and SPICE v1.0, and Cadence IP has been enabled for the TSMC 5nm process. The corresponding process design kits, or PDKs, featuring integrated tools, flows and methodologies are now available for traditional and cloud-based environments. Additionally, mutual customers have already completed several tapeouts using Cadence tools, flows and IP for full production development on the TSMC 5nm process technology.

08:36 EDT User-Friendly urges Rand stockholders to vote against East transaction - User-Friendly Phone Book announced that it has sent a letter to the stockholders of Rand notifying them that User-Friendly plans on filing with the Securities and Exchange Commission, and delivering to stockholders, its own proxy materials, which will detail User-Friendly's reasons for voting against all of the proposals to be voted upon at the special meeting of stockholders of Rand, scheduled for May 16, 2019. The letter read, in part, "I am Bruce Howard, CrEO of User-Friendly Phone Book, the largest individual stockholder of Rand Capital Corporation. User-Friendly is very concerned that Rand's proposed transaction with East Asset Management is not in the best interests of the company or its stockholders. We plan on filing a proxy statement with the Securities and Exchange Commission and will soon provide you with information regarding why User-Friendly believes that the terms of the proposed transaction with East are inadequate and not in the best interests of the company or its stockholders. User-Friendly urges you to refrain from voting until you have had an opportunity to review our proxy materials and to understand better our objections to the proposed transaction with East. You deserve the opportunity to review the information regarding why we believe the terms of the proposed transaction are inadequate and to decide for yourself what best serves your interests. Under the Stock Purchase Agreement with East, Rand has agreed to sell control of the company for $3.00 per share, or aggregate consideration of $25M n in a mix of cash and private investments. For the reasons that will be explained in detail in our proxy materials to be delivered to you shortly, we intend to vote AGAINST the proposed transaction. By now you have likely received the proxy materials and a proxy card from Rand for the Special Meeting scheduled to be held on May 16, 2019. The Rand proxy statement, among other things, is asking you to approve the proposed transaction with East. Please do NOT respond to any solicitation made by Rand's management and do NOT return a proxy card voting for the proposed transaction with East. You will soon be receiving our proxy statement and our WHITE proxy card urging you to vote AGAINST the proposed transaction with East by voting AGAINST each proposal to be voted upon at the Special Meeting. Our interests are aligned with yours-to maximize the value of our investment in Rand. "

08:34 EDT China Jo-Jo Drugstore updates strategic transformation plan - China Jo-Jo Drugstores announced an update to its strategic transformation plan previously announced. The Company expects to become a new benchmark for the smart drug diagnosis industry and a prominent brand in the pharmaceutical industry in China. A letter to shareholders ended "The Company will continue to optimize its product structure and service system to form a competitive "new retail" model for the retail pharmacy industry. This model will connect online and offline, connect doctors and medicines, connect the social security insurer, commercial insurer and consumers, and form an efficient, closed service loop. We believe the improvements brought by the integrations of concepts from the "new retail" model will improve our customers' stickiness and repurchase rate."

08:31 EDT NovaMed's PEEK study published in Journal of Spine & Neurosurgery - NuVasive announced the results of the study "Early Clinical Outcomes Comparing Porous PEEK, Smooth PEEK, and Structural Allograft Interbody Devices for Anterior Cervical Discectomy and Fusion," published online in the Journal of Spine & Neurosurgery, which concludes that the NuVasive proprietary Cohere(R) Porous polyetheretherketone, or PEEK, implant demonstrates a clear benefit in promoting improved early outcomes over structural allograft and smooth PEEK in anterior cervical discectomy and fusion, or ACDF, procedures. In the study, 167 patients presenting with degenerative cervical disc disease underwent ACDF using Cohere Porous PEEK, structural allograft or smooth PEEK in the interbody space. Patients receiving Cohere exhibited significant clinical improvements relative to preoperative scores, better outcomes than alternative treatments as early as six weeks and sustained improvements relative to other treatments through 12-months post-op.

08:21 EDT Home Bancshares increases quarterly dividend 8.3% to 13c per share - Home Bancshares announced that its board has declared a regular 13c per share quarterly cash dividend payable June 5 to shareholders of record May 15. This cash dividend represents a 2c per share, or 18.2%, increase over the 11c cash dividend paid during Q2 of 2018 and a 1c per share or 8.3% increase over the 12c cash dividend paid during Q1.

08:17 EDT Lightbridge receives Canadian patent for rod design, manufacturing method - Lightbridge announced it has been formally issued a patent by the Canadian Intellectual Property Office. The patent relates to the company's divisional patent application covering its four-lobe metallic fuel rod design and related manufacturing method comprising co-extrusion of a single billet assembly through a die to form a four-lobe helically twisted metallic fuel rod. This patent grant follows the notice of allowance announced in November 2018.

08:15 EDT Gritstone Oncology announces potential clinical acceleration for SLATE study - Gritstone Oncology announced that following feedback from the FDA the SLATE Phase 1 clinical study may be accelerated by up to six months from the company's prior expectations by leveraging pre-clinical data generated for the original GRANITE investigational new drug, or IND, application. Based on the similarities in the two investigational therapies, the common patient populations and the consistency in manufacturing that has led to comparable drug products, the FDA has in principle agreed to accept previously conducted GRANITE IND-enabling toxicology studies in support of the SLATE IND, which brings the anticipated IND filing date closer. The Phase 1 study will evaluate SLATE in combination with immune checkpoint blockade for the treatment of patients with advanced solid tumors, including metastatic lung cancer, pancreatic cancer and colorectal cancer. There will also be a cohort of patients with other solid tumor types who possess appropriate mutation/HLA combinations. Clinical acceleration is also enabled by early identification of eligible patients using a screening protocol which is currently running at multiple trial sites. The company expects to present preliminary data from the first part of both the SLATE and GRANITE Phase 1 trials in Q4.

08:10 EDT Ring Energy estimates Q1 pro forma net production approx. 1.05M BOEs - Ring Energy released its operations updates for Q1. In the three months ended March 31, 2019, the company, employing one drilling rig, drilled seven new horizontal wells and four salt water disposal wells. The company drilled six new horizontal San Andres wells on its Central Basin Platform asset, five wells which were one mile in length and one well which was one and a half miles in length. In addition, the company drilled one new horizontal Brushy Canyon well on its Delaware Basin Property which was one mile in length. In Q1, the company completed seven wells, six which were drilled in Q1 and one which was drilled late in 4Q18. Of the seven wells completed, four were completed prior to the midway point in the quarter and had a significant impact on Q1 production. The remaining three wells had little or no impact - two wells were completed with less than one week remaining in the quarter and the third was in the process of testing. In Q1, the company filed Initial Potentials on four of the seven completed wells. The average IP on the four wells was approximately 575 Barrel of Oil Equivalents per day, or 132 BOE per 1,000 feet. In Q4, management announced the company had drilled one new horizontal well on its North Gaines Property. The 4H was drilled and completed in the third quarter 2018 and was producing approximately 150 BOPD at the end of the third quarter 2018. One new horizontal Brushy Canyon well, the Hugin 2H, was drilled, completed, tested and had its IP filed in the first quarter 2019. In addition, the Hugin 1H, drilled in the fourth quarter 2018, and one of two wells which were purposely drilled lower in structure for the purpose of seeking a thicker oil column and better oil cuts, completed testing and had its IP filed in the first quarter 2019 - Hugin 1H: IP 818 BOE per day, or 224 BOE per 1,000 feet, and Hugin 2H: IP 423 BOE per day, or 129 per 1,000 feet. The Phoenix 2H, drilled in the fourth quarter as an offset to the Phoenix 1H, is still undergoing testing but has shown preliminary results of 60 BOPD and 2,200 MCF per day, or over 425 BOEPD. The Hippogriff 4H, also drilled in the fourth quarter and offsetting the Hugin lease, is currently in testing. As a result, net production for the first quarter of 2019 was approximately 569,130 BOEs, as compared to net production of 507,000 BOEs for the first quarter of 2018, an approximate 12.3% increase, and net production of 608,000 BOEs for the fourth quarter of 2018, an approximate 6.4% decrease. March 2019 average net production was approximately 6,381 BOEs, as compared to net daily production of 6,005 BOEs in March 2018, an approximate 6.3% increase, and net daily production of 6,908 in December 2018, an approximate 7.6% decrease. The average estimated price received per BOE in the first quarter 2019 was $47.40. Management estimates that the pro forma net production for the first quarter ended March 31, 2019, of the Company, including the acquired Wishbone assets, was approximately 1,050,000 BOEs. Management noted that there had been no active drilling or development on the Wishbone assets since early October 2018.

08:09 EDT Molecular Templates announces FDA acceptance of MT-5111 IND application - Molecular Templates announced that the FDA has accepted its investigational new drug, or IND, application for MT-5111, an ETB targeting HER2. MTEM expects to start dosing in a Phase I study in relapsed/refractory patients with HER2-positive solid tumors in Q3. This Phase I study is an open-label, dose escalation and expansion study of MT-5111 given as monotherapy in subjects with HER2-positive solid tumors. The primary objective of the trial is to evaluate the safety and tolerability of MT-5111 and determine the recommended Phase II dose in subjects with advanced HER2-positive solid tumors.

08:05 EDT Gannett says MNG nominees 'highly conflicted' given affiliations with Alden - Gannett issued a factsheet addressing the "false and misleading statements" made by MNG Enterprises, in connection with Gannett's 2019 annual meeting of shareholders to be held on May 16. The Gannett board of directors unanimously recommends that shareholders vote "FOR ALL" of the company's independent director nominees on the WHITE proxy card. In the factsheet, Gannett says: "MNG's investor presentation makes clear that if MNG were to gain board control, MNG would initiate a strategic review, the outcome of which is entirely uncertain. One possible outcome is Gannett being forced to acquire MNG, as MNG has previously proposed/ MNG and its nominees have no clear strategy, and if MNG's prior conduct is any indicator, MNG may siphon Gannett assets (including potentially from Gannett's pensions) to fund unrelated investments and deliver generous management fees to Alden Global Capital (MNG's majority shareholder), while destroying value for other Gannett shareholders. All 6 of MNG's nominees are highly conflicted given their close affiliations with MNG and/or Alden: These conflicts of interest, and MNG's acknowledgement that its proxy fight aims to advance a transaction with Gannett, underscore that MNG's nominees cannot objectively evaluate board actions on behalf of all shareholders, let alone oversee a strategic alternatives process. MNG's claims otherwise are false and misleading On the other hand, ALL of Gannett's nominees are independent, bring diverse and relevant experience and are actively engaged in overseeing the execution of Gannett's strategy and digital transformation."

08:03 EDT Exxon Mobil signs 20-year LNG agreement with Zhejiang Energy - ExxonMobil said that it signed a sales and purchase agreement with Zhejiang Provincial Energy Group for liquefied natural gas supply. Under the agreement, Zhejiang Energy is expected to receive 1 million metric tons per annum of LNG over 20 years.

07:38 EDT Halliburton up 4% to $32.43 after Q1 results beat estimates

07:36 EDT Kimberly-Clark sees $500M-$550M in pre-tax cost savings by end of 2021 - In January 2018, Kimberly-Clark initiated the 2018 Global Restructuring Program in order to reduce the company's structural cost base and enhance the company's flexibility to invest in its brands, growth initiatives and capabilities critical to delivering future growth. The program will make Kimberly-Clark's overhead organization structure and manufacturing supply chain less complex and more efficient and is expected to broadly impact all of the company's business segments and organizations in each major geography. The company expects the program will generate annual pre-tax cost savings of $500M-$550M by the end of 2021, driven by workforce reductions along with manufacturing supply chain efficiencies. As part of the program, Kimberly-Clark expects to exit or divest some low-margin businesses that generate approximately 1% of company net sales. The sales are concentrated in the consumer tissue business segment. To implement the program, the company expects to incur restructuring charges of $1.7B-$1.9B pre-tax ($1.35B-$1.5B after tax) by the end of 2020.

07:32 EDT Kimberly-Clark CEO says 'I'm encouraged with our first quarter results' - CEO Mike Hsu said, "I'm encouraged with our first quarter results. We made excellent progress driving higher selling prices to help offset commodity and currency headwinds. We also continued to launch innovations, pursue our growth priorities and invest in our brands. In addition, we generated $115 million of cost savings and returned $510 million to shareholders through dividends and share repurchases. We are confirming our previous full-year outlook while we maintain a strong focus on executing K-C Strategy 2022 for long-term success."

07:21 EDT AxoGen announces 50 subject enrollment expansion for RECON study - AxoGen announced completion of the planned blinded interim analysis for its RECON study. The study will support the submission of a biologic license application, or BLA, to the FDA for Avance Nerve Graft. The FDA-approved RECON study design includes a statistical analysis plan that outlines a blinded interim analysis of the pooled standard deviation for the primary endpoint measure from the first 80 enrolled subjects. The pooled standard deviation is a key statistical assumption used to determine the appropriate sample size for the study. This interim analysis, conducted by the study's independent statistician, was designed to allow for an increase in the study size if the pooled standard deviation of the first 80 subjects differed from the original study estimate. The analysis only assessed the pooled standard deviation and did not assess variability between the two study groups or include an interim look at study results. Based on the results of the interim analysis, the study's independent biostatistician recommended continuation of the study with a one-time expansion in enrollment according to a pre-defined sample size re-estimation. The recommendation was reviewed with the FDA and the FDA provided the company with a revised special protocol assessment agreement which confirms the expanded sample size and allows for an increase in the number of study centers. The study enrollment target will be increased by 50 subjects to a total target of 220 subjects. AxoGen may add up to five new study centers, for a total of 25 centers, to support enrollment. During the next few months, AxoGen will restart enrollment of subjects with its existing centers and begin recruitment of new centers. Based on anticipated site start-up and historical study enrollment, the company expects to complete enrollment during the summer of 2020.

07:12 EDT KeyW to be acquired by Jacobs Engineering for $11.25 per share, or $815M - KeyW (KEYW) announced that it has signed a definitive agreement and plan of merger with Jacobs Engineering (JEC) and Atom Acquisition, a newly created wholly owned indirect subsidiary of Jacobs, to be acquired by Jacobs for $11.25 per share in cash. The transaction has an enterprise value, net of tax assets, of approximately $815M, including an estimated $272M of KeyW net debt. The merger consideration represents a premium of 43% to KeyW's closing stock price on April 18. Pursuant to the terms of the merger agreement, merger sub will conduct an all-cash tender offer for 100% of KeyW's common stock and, subject to the successful completion of the offer, merger sub will merge with and into KeyW resulting in KeyW becoming a wholly owned indirect subsidiary of Jacobs. The merger agreement was unanimously approved by the members of each company's board voting on the transaction. Under the terms of the merger agreement, Jacobs will commence the offer as promptly as practicable. Any shares of KeyW common stock not tendered in the offer will be acquired by Jacobs in the merger and the holders thereof will be entitled to receive the per share merger consideration. The KeyW board intends to recommend that KeyW shareholders tender their shares to Jacobs in the offer.

07:04 EDT Target introduces household essentials brand called Everspring - Target announced the introduction of Everspring, a new household essentials brand comprised of more than 70 household essentials items. Developed by Target's internal design team as a down-to-earth solution that is up to Earth's standards, Everspring products include ingredients and components that are derived from plants or use other renewable materials, as well as post-consumer recycled paper. Everspring arrives in stores and on Target.com beginning April 22, and will be available year-round.

07:02 EDT McDermott awarded petrochemicals contract in Kuwait - McDermott and Kuwait Integrated Petroleum Industries, a subsidiary of Kuwait Petroleum, announced that KIPIC has awarded McDermott a technology contract for the basic engineering, technology license and catalyst for an integrated Low Pressure Recovery and Olefins Conversion Technology unit at KIPIC's Petrochemical Refinery Integration Project in Al Zour, Kuwait. Once complete, this unit will produce 330,000 metric tons per annum of polymer grade propylene using refinery by-product streams. The Petrochemical Refinery Integration project will add a gasoline block, an aromatics block, OCT unit, polypropylene units, associated utility and offsite facilities to the existing refinery site. The new units will be closely integrated with the ZOR Refinery and LNGI projects which will be operated as an integrated facility once complete. This award will be reflected in McDermott's first quarter backlog.

06:54 EDT Eagle Pharma announces CMS established unique J-code for BELRAPZO - Eagle Pharmaceuticals announced that the Centers for Medicare & Medicaid Services, or CMS, has established a unique, product-specific billing code, or J-code, for BELRAPZO, or bendamustine 500mL hydrochloride injection. The J-code will become effective on July 1. Eagle's bendamustine 500mL hydrochloride injectable will be sold as BELRAPZO beginning June 3.

06:49 EDT Halliburton CEO says 'results for the first quarter played out as we expected' - "Our results for the first quarter played out as we expected and I'm pleased with how our organization executed both in North America and internationally. We continued to collaborate with our customers to engineer solutions that maximize their asset value," commented Jeff Miller, Chairman, President and CEO. "As expected, the first quarter activity levels in North America were modestly higher compared to the first quarter of 2018, and we experienced pricing headwinds throughout the quarter. We believe the worst in the pricing deterioration is now behind us. For the next couple of quarters, I see demand for our services progressing modestly. International revenue increased 11% year over year, which was a great first step towards our expectation of high single-digit international growth for all of 2019. Broad-based recovery continues across all regions, and we expect this momentum to build going into 2020. Halliburton is well positioned to navigate the near-term and thrive in the long run. We will achieve that through responsible capital stewardship, prioritizing capital efficiency, investing in the technologies that deliver differentiation, and generating strong cash flow and returns," concluded Miller.

06:42 EDT Jacobs Engineering to acquire KeyW for $11.25 per share in cash - Jacobs (JEC) announced that they have entered into a definitive merger agreement pursuant to which Jacobs will acquire KeyW (KEYW) for $11.25 per share in cash. The transaction has an enterprise value, net of tax assets, of approximately $815M, including an estimated $272M of KeyW net debt. The transaction value represents an enterprise value-to-expected 2020 adjusted EBITDA multiple of approximately 10x, assuming full run-rate cost synergies of $15M. Like Jacobs, KeyW has embedded and long-standing client relationships that are underpinned by recurring contracts. Jacobs expects FY20 adjusted EPS accretion of 25c-30c from KeyW, assuming $15M in full run-rate synergies. Over the next 5 years, Jacobs has identified more than $100M of potential revenue synergy opportunities from capturing incremental opportunities within the federal customer base, both in current contract vehicles and from opportunities in their respective bid pipelines. Under the terms of the agreement, which has been approved by each company's board, Jacobs will commence a tender offer to acquire all the outstanding shares of KeyW for $11.25 per share in cash. The per share price represents a premium of approximately 43% to KeyW's closing stock price on April 18, the last trading day prior to the announcement and 12% premium to the 52-week high. The tender offer is subject to customary conditions, including regulatory approvals and the valid tender of a majority of KeyW's outstanding shares of common stock. Following the successful closing of the tender offer, Jacobs will acquire any remaining shares of KeyW not tendered in the offer through a second-step merger at the same price. Jacobs expects to complete the acquisition by August 31. The transaction is not subject to a financing condition. Jacobs expects to finance the transaction through a combination of cash on hand and its existing credit facility.

06:34 EDT Eli Lilly announces licensing, research collaboration with Avidity - Eli Lilly announced a global licensing and research collaboration focused on the discovery, development and commercialization of potential new medicines in immunology and other select indications. The companies will utilize Avidity's technology platform to progress new therapeutic approaches toward clinical development and commercialization. Avidity's platform seeks to combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide-based therapeutics to potentially overcome barriers to the delivery of oligonucleotides and target genetic drivers of disease. Under the terms of the agreement, Avidity will receive an upfront payment of $20M, as well as an investment of $15M. Avidity is also eligible to receive up to approximately $405M per target for development, regulatory and commercialization milestones, as well as tiered royalties ranging from the mid-single to low-double digits on product sales. This transaction is subject to clearance under customary closing conditions. The transaction will be reflected in Lilly's reported results and financial guidance according to GAAP. There will be no change to Lilly's non-GAAP earnings per share guidance as a result of this transaction.

06:10 EDT Teva receives FDA approval to market generic nasal spray for opioid overdoses - The U.S. Food and Drug Administration on Friday granted final approval of the first generic naloxone hydrochloride nasal spray, commonly known as Narcan, a life-saving medication that can stop or reverse the effects of an opioid overdose. The agency is also planning new steps to prioritize the review of additional generic drug applications for products intended to treat opioid overdose, along with the previously announced action to help facilitate an over-the-counter naloxone product. The FDA tentatively approved this generic drug product on June 8, 2018. Teva Pharmaceuticals USA Inc. has received final FDA approval to market generic naloxone nasal spray. "In the wake of the opioid crisis, a number of efforts are underway to make this emergency overdose reversal treatment more readily available and more accessible. In addition to this approval of the first generic naloxone nasal spray, moving forward we will prioritize our review of generic drug applications for naloxone. The FDA has also taken the unprecedented step of helping to assist manufacturers to pursue approval of an over-the-counter naloxone product and is exploring other ways to increase the availability of naloxone products intended for use in the community, including whether naloxone should be co-prescribed with all or some opioid prescriptions to reduce the risk of overdose death," said Douglas Throckmorton, M.D., deputy center director for regulatory programs in the FDA's Center for Drug Evaluation and Research.

06:06 EDT Bass Pro to cancel access from Bluegreen Vacations - As previously announced, Bluegreen Vacations and its subsidiaries received a formal notice from Big Cedar, Bass Pro, Bass Pro Outdoor World, and other affiliates notifying Bluegreen that Bass Pro intended to cancel the Company's access to the Bass Pro marketing channels and advertising materials as of April 19 unless the Company cured certain alleged breaches. Pursuant to the terms of the parties' agreement, Bluegreen was to be provided with a "period of at least 30 days to respond and cure" and further, that any timely cure proposed would be subject to the approval of Bass Pro "which shall not be unreasonably withheld."

06:03 EDT Bed Bath & Beyond announces announces board 'transformation' - Bed Bath & Beyond announced that, in response to shareholder feedback "and in connection with its commitment to accelerating refreshment at the board-level," the company's board is transforming; the board will comprise 10 directors, nine of whom are independent and six of whom are women. "The transformed coard will reflect significant diversity across race, gender and ethnicity, and have an average tenure of less than four years." The company also announced a series of additional governance enhancements. Specifically, the company announced that: Five current independent directors will step down; Co-Founders Warren Eisenberg and Leonard Feinstein have transitioned to the role of Co-Founders, Co-Chairmen Emeriti and will retire from the board; Current Lead Independent Director, Patrick Gaston has been named Independent Chairman, effective immediately; The board will form a Business Transformation and Strategy Review Committee to review all aspects of the company's business transformation, strategy and structure; The Audit and Compensation Committees of the board will be reconstituted, including the appointment of committee chairs; A new executive compensation plan that increases the at-risk component of executive compensation and further aligns compensation with company performance and long-term shareholder value creation will be adopted. The company will provide details on its new executive compensation plan in connection with the filing of its proxy statement. Patrick Gaston, who was named Independent Chairman, stated, "As we have communicated to Bed Bath & Beyond shareholders, the Board has been undertaking a comprehensive review of its composition, governance structure and compensation practices. The changes announced today reflect significant shareholder input and underscore our commitment to ensuring we have best-in-class governance. This board transformation and refreshed governance structure is rooted in accountability, transparency and collaboration, and as we provide oversight and move the company forward, we are committed to continuing to act in the best interest of our shareholders."

05:58 EDT Samsung postpones Galaxy Fold launch events in Hong Kong, Engadget's Lai says - Richard Lai, Engadget Chinese's Editor-in-chief and Engadget's Senior Editor, said via Twitter that Samsung's Galaxy Fold launch events in Hong Kong and Shanghai have been postponed. They were originally scheduled for this Tuesday and Wednesday, respectively, he noted. Reference Link