Company & Stock News

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September 25, 2017 Company and Stock News

September 25, 2017 Apple (AAPL): DigiTimes reported that Apple Inc. has reportedly instructed suppliers of components for its iPhone X to withhold part of the component shipments. Specifically, DigiTimes reported that Apple’s...

September 22, 2017 Company and Stock News

  • Wal-Mart (WMT) says it has partnered with August Home, a provider of smart home accessories, to test a program that would deliver various household goods to shoppers’ homes
  • Bloomberg reported that Hewlett Packard (HPE) is planning to reduce its workforce by approximately 10%, or by at least 5,000 people
  • Sprint (S) and T-Mobile (TMUS): Reuters reported that Sprint Corporation (S) and T-Mobile USA (TMUS) are close to agreeing on terms of a merger
  • Transocean (RIG) says it intends to retire six of its ultra-deepwater floaters and to record a $1.4 billion impairment charge related to those asset retirements

September 21, 2017 Company and Stock News

  • Amazon (AMZN): CNBC reported that Amazon.com (AMZN) is planning to bring more than 2,000 jobs to New York City over the next three years and to create approximately 6,000 jobs in New York State by 2019
  • MarketWatch reported that Target Corporation (TGT) is expanding its Target Restock next-day delivery service to eight new markets
  • CRH plc (CHR) reaches an agreement to acquire Ash Grove Cement Company, a privately-owned U.S. cement manufacturer, for $3.5 billion
  • TheVerge.com reported that Nvidia Corporation (NVDA) is introducing a new configuration of the company’s Shield TV that will sell for $179, the same price as Apple’s latest streaming set-top TV box
  • Anadarko Petroleum (APC) announced that its board of directors authorized a $2.5 billion share-repurchase program that will extend through the end of 2018

    Texas Instruments (TXN) announced that its board of directors authorized the company to repurchase an additional $6.0 billion of its common stock

  • Calgon Carbon (CCC) enters into definitive agreement to be acquired by Japan-based Kuraray Co., Ltd. for $21.50 per share in cash

September 20, 2017 Company and Stock News

  • Alnylam Pharmaceuticals (ALNY) says it experienced positive results from a Phase 3 trial of its treatment for Hereditary ATTR, an inherited disease that causes proteins to accumulate and damage human organs and tissues
  • TheVerge.com reported that Apple (AAPL) admitted that its new Apple Watch Series 3 has experienced negative connectivity issues
  • CNBC reported that Tesla (TSLA) is working with Advanced Micro Devices (AMD) to produce a chip for its Autopilot advanced driver-assistance systems
  • The New York Times reported that Alphabet Inc.’s (GOOG) Nest Labs unit is adding Google’s facial recognition technology to its camera-equipped doorbell

September 19, 2017 Company and Stock News

  • Amazon.com (AMZN) announced that its new Fire HD 10 tablet, which is priced at $149.99, is now available for pre-order.
  • Kohl’s (KSS) says 82 of the company’s stores in Los Angeles and Chicago will begin to offer free, convenient returns for Amazon customers during October
  • Walgreens Boots Alliance (WBA) announced that it received regulatory clearance to purchase 1,932 stores, three distribution centers and related inventory from Rite Aid Corporation (RAD) for $4.375 billion in cash and other consideration
  • Bob Evans (BOBE) and Post Holdings (POST) enter into definitive agreement under which Post will acquire Bob Evans for $77.00 per share of the company’s stock
  • Reuters reported that Siris Capital Group disclosed that it is no longer interested in pursuing an all-cash acquisition of Synchronoss Technologies (SNCR)

September 18, 2017 Company and Stock News

  • Northrop Grumman (NOC) enters into definitive agreement to acquire Orbital ATK for approximately $7.8 billion in cash
  • L Brands (LB) announced that its Board of Directors authorized the company to repurchase $250 million of its stock
  • Henry Schein (HSIC) announced that its Board of Directors authorized the company to repurchase up to $400 million of its common stock
  • Itron, Inc. signs definitive agreement to acquire all of the outstanding shares of Silver Spring Networks, Inc. (SSNI), a provider of Internet of Things services, for $16.25 per share in cash
  • Teva Pharmaceutical (TEVA) enters into two agreements to sell the remaining assets of its specialty global women’s health business for $1.38 billion
  • Amazon (AMZN) says it plans to open two more fulfillment centers, one in Ohio and the other in Oregon, and to hire 2,000 full-time employees, in total, to work at those facilities
  • MarketWatch reported that Yum! Brands (YUM) plans to add 300 restaurants in urban areas by 2022 and to hire 100,000 employees to work at those restaurants
  • Macy’s (M) say it plans to hire approximately 80,000 seasonal associates for the 2017 winter holiday shopping season
  • Valero Energy (VLO) and Plains All American (PAA) announced that they agreed to terminate their agreement for Valero to acquire two of Plains All American’s storage and distribution terminals
  • Dimension Therapeutics (DMTX) and Ultragenyx Pharmaceutical (RARE) announced that Ultragenyx made a proposal to Dimension Therapeutics to acquire all of the outstanding shares of common stock of Dimension for $5.50 per share, or approximately $138 million
  • Nabriva Therapeutics (NBRV) says it experienced positive results from a Phase 3 trial of its oral treatment for community-acquired bacterial pneumonia, the leading cause of infectious death in the United States
  • Pluristem Therapeutics (PSTI) announced that the U.S. Food and Drug Distraction granted Fast Track Designation for the company’s ongoing Phase 3 study of its treatment of Critical Limb Ischemia, a severe blockage in the arteries of the lower extremities that reduces blood-flow and often requires amputation of a patient’s legs
  • Perrigo (PRGO) announced that it received tentative approval from the U.S. Food and Drug Administration for the generic version of its Acanya® gel for acne

September 15, 2017 Company and Stock News

  • Bloomberg reported that Alphabet Inc. (GOOG) held discussions with Lyft Inc. to potentially invest $1 billion in the ride-sharing company
  • Nucor Corporation (NUE) reduced its earnings per diluted share estimate to a range of $0.75-$0.80 per for the quarter ending September 30, 2017, from a prior estimate of a range similar to its results for the first half of 2017; in comparison, Wall Street analysts were estimating, on average, for the company to report earnings per diluted share of $1.04
  • Teekay Tankers (TNK) announced that its Board of Directors authorized a share repurchase program for the company to repurchase of up to $45 million of its Class A common stock
  • Mirati Therapeutics (MRTX) says it experienced positive results from a Phase 2 study of its treatment for lung cancer
  • Neos Therapeutics (NEOS) announced that the U.S. Food and Drug Administration approved the company’s Adzenys ER™ oral drug for Attention Deficit Hyperactive Disorder

September 14, 2017 Company and Stock News

  • Amazon (AMZN) says it plans to open a new fulfillment center in the Charter Township of Shelby, Michigan and to hire 1,000 people to work full-time at the facility
  • eBay (EBAY) partners with Spring, an online clothing retailer, to provide a dedicated “storefront” of Spring’s offerings on eBay’s web site
  • Oracle (ORCL) says it expects to report adjusted earnings per share in a range of $0.64-$0.68 on a 2%-4% year-over-year increase in its revenues for the three months ending November 30, 2017; in comparison, Wall Street analysts were estimating, on average, for the company to report adjusted earnings per share of $0.68 on a 4.7% increase in the company’s revenues
  • The U.S. Securities and Exchange Commission reported that SunTrust Banks (STI) agreed to pay a $1.1 million penalty to settle charges that it improperly recommended more expensive share classes of various mutual funds to 4,500 clients when less expensive shares of the same funds were available
  • Pfizer (PFE) says it experienced positive results from a Phase 3 study of the company’s XTANDI® drug for prostate cancer
  • Amgen (AMGN) and Allergan (AGN) announced that the U.S. Food and Drug Administration approved their Mvasi drug for the treatment of five types of cancer
  • Bristol-Myers (BMY) and Halozyme Therapeutics (HALO) announced a global collaboration and license agreement to develop Bristol-Myers’ cancer medicines using Halozyme’s ENHANZE® drug-delivery technology

September 13, 2017 Company and Stock News

  • JetBlue (JBLU): JetBlue Airways (JBLU) announced that its revenue passenger miles rose by 5% during August, as compared to the same month a year ago
  • Target (TGT) says it plans to hire approximately 100,000 for the 2017 winter holiday shopping season
  • Tesla’s (TSLA) CEO, Elon Musk, tweeted today “Tesla Semi truck unveil & test ride tentatively scheduled for Oct 26th in Hawthorne. Worth seeing this beast in person. It’s unreal.”
  • The Wall Street Journal reported that Tenet Healthcare (THC) is exploring strategic options including a possible sale of the company
  • Vanda Pharmaceuticals (VNDA) says it experienced disappointing results from a Phase 2 study of the company’s treatment for eczema, a medical condition that causes one’s skin to become inflamed, itchy or irritated

September 12, 2017 Company and Stock News

  • Apple (AAPL) announced that its new iPhone X will be available for pre-order beginning October 27 in more than 55 countries and territories
  • MGM Resorts (MGM) announced that it will purchase 10 million shares of its common stock from Tracinda Corporation at a price of $32.75 per share, for a total of $327.5 million
  • CNBC reported that the Nordstrom family is nearing a deal with private equity firm Leonard Green & Partners, L.P. to take Nordstrom (JWN) private
  • Progress Software (PRGS) announced that it expects to report adjusted earnings per diluted share of $0.48 on revenues of $97.6 million for the three months ended August 31, 2017; in comparison, Wall Street analysts were estimating, on average, for the company to report adjusted earnings per share of $0.42 on revenues of $95.8 million
  • Apartments (BRT) announced that it board of directors renewed the company’s stock repurchase plan, which authorizes the company to buy back up to $5 million of its common stock
  • Centene (CNC): Centene Corporation (CNC) signs definitive agreement to acquire substantially all of the assets of Fidelis Care, a not-for-profit provider of healthcare plans, for $3.75 billion
  • Aldeyra Therapeutics (ALDX) says it experienced positive results from a Phase 2 study of the company’s treatment for dry eye disease
  • Alexion Pharmaceuticals (ALXN) announced that it plans to execute a restructuring of the company’s operations that will include a 20% reduction in its workforce and will enable the company to reduce its operating expenses by approximately $250 million annually beginning by the year 2019

September 11, 2017 Company and Stock News

  • Pilgrim’s Pride (PPC) acquires Moy Park, a privately-held supplier of poultry and prepared food products, for approximately $1 billion
  • T-Mobile (TMUS) says it will launch the United States’ first Internet of Things (“IoT) network during mid-2018
  • Nordstrom (JWN) announced that it will launch a new retail concept on October 3 whereby customers can shop and access the company’s services in convenient locations
  • Cooper Companies (COO) and Teva Pharmaceuticals (TEVA): The Cooper Companies (COO) and Teva Pharmaceuticals (TEVA) announced they entered a definitive agreement under which Cooper’s will acquire Teva’s PARAGARD® copper contraceptive product for $1.1 billion

September 8, 2017 Company and Stock News

  • David & Buster’s (PLAY) announced that its board of directors authorized the company to repurchase an additional $100 million of its stock under the company’s existing repurchase program
  • Zumiez (ZUMZ) says it expects to report earnings per diluted share in a range of $0.43-$0.48 on revenues of $236 to $241 million for the three months ending October 31, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report $0.43 in earnings per share on revenues of $227.9 million
  • Target (TGT) lowers prices on thousands of items
  • Eli Lilly and Company (LLY) says it experienced positive results from a Phase 3 study of the company’s galcanezumab drug to prevent migraines
  • Kura Oncology (KURA) says it experienced positive results from a Phase 2 study of the company’s tipifarnib drug for the treatment of skin cancer
  • Roche (RHHBY) says it experienced disappointing results from a Phase 3 study of the company’s treatment for visual impairment

September 7, 2017 Company and Stock News

  • The Wall Street Journal reported that persons who order Apple’s (APPL) new iPhone 8 might experience delayed shipments of those devices due to production problems that the company encountered this past summer
  • Reuters reported that Comcast (CMCSA) expects to lose between 100,000 and 150,000 video subscribers during the three months ending September 30, 2017 due more competition
  • Fitbit (FIT) and DexCom (DXCM) announced that they’re collaborating to develop and market products to help people better manage their diabetes
  • S&P Global Ratings announced that it raised its corporate credit rating on Delta Air Lines (DAL) to ‘BBB-‘, from ‘BB+’
  • Mastercard (MA) raises its revenue growth estimate to the “high end of low double-digits” percentage range from a previous growth estimate of “low double-digits”
  • Finisar (FNSR) says it expects to report non-GAAP earnings per diluted share in a range of $0.27-$0.33 on revenues in a range of range of $322-$342 million for the three months ending October 31, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report $0.50 in adjusted earnings per share on revenues of $370 million
  • NCI Building Systems (NCS) reduces its 2017 revenue estimate to a range of $1.75-$1.78 billion from a prior estimate of $1.80-$1.86 billion
  • Eli Lilly and Company (LLY) says it plans to reduce the size of its workforce by approximately 3,500 by the end of 2017
  • The U.S. Food and Drug Administration announced that it sent a letter to Pfizer Inc. (PFE) warning the company that it failed to investigate multiple product failures
  • Bristol-Myers Squibb (BMY) says it experienced positive results from a Phase 3 study of the company’s Opdivo and Yervoy drugs for patients with kidney cancer
  • Alnylam Pharmaceuticals (ALNY) says it suspended its fitusiran treatment for patients with hemophilia after a patient using the treatment died
  • Celgene (CELG) announced that the U.S. Food and Drug Administration placed a partial clinical hold on certain of the company’s cancer drugs

September 6, 2017 Company and Stock News

  • Amazon (AMZN) says it plans to open a new 855,000-square-foot fulfillment center in Staten Island, New York and to hire more than 2,250 full-time employees to work at the facility.
  • Carnival Corporation (CCL) announced that it began construction for the first of seven next-generation cruise ships that will be fully-powered by liquefied natural gas (“LNG”)
  • Deere & Company (DE) signs definitive agreement to acquire Blue River Technology, a privately-owned provider of machine-learning applications for the agriculture industry, for $305 million
  • CSX Corporation (CSX) says it expects to report earnings per share growth of approximately 20%-25% for the full year ending December 31, 2017, down from a prior earnings per share growth estimate of approximately 25%
  • RH (RH), formerly known as Restoration Hardware, says it expects to report adjusted earnings of $70-$77 million on revenue of $2.42-$2.46 billion for the company’s full fiscal year ending January 31, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report full-year adjusted earnings of $59.2 million on revenue of $2.44 billion
  • Fortive Corp. (FTV) and Landauer (LDR): Fortiv Corporation (FTV) and Fortiv Landauer (LDR) enter into definitive agreement for Fortiv to acquire Landauer for $67.25 per share
  • Merck & Co. (MRK) announced that it will acquire Rigontec, a privately-held Germany-based developer of RNA-based immunotherapeutics to treat cancer and viral diseases, for an upfront cash payment of €115 million ($137 million) and additional milestone payments of up to €349 million ($416 million)
  • Sarepta Therapeutics (SRPT) says it experienced positive results from a Phase 1/2 clinical trial of the company’s treatment for muscular dystrophy
  • Newell Brands (NWL), Francesca’s Holdings (FRAN), United Continental (UAL) lower their financial operating estimates due to the aftermath of Hurricane Harvey

September 5, 2017 Company and Stock News

  • Delta Air Lines (DAL) announced that it expects to report an operating profit margin in the range of 16.5%-17.5% on a 2%-3% increase in the company’s passenger unit revenues for the quarter ending September 30, 2017
  • Tyson Foods (TSN) says it plans to build a $320 million poultry complex in eastern Kansas and to employ approximately 1,600 people to work at the facility
  • Electronics For Imaging (EFII) says it expects to report adjusted earnings per share in a range of $0.55-$0.60 on revenue of $255-$260 million for the quarter ending September 30, 2017; in comparison, Wall Street analysts were estimating, on average, for the company to report $0.63 in adjusted earnings per share on revenue of $261.2 million
  • Merck (MRK) announced that the European Commission approved the company’s KEYTRUDA® treatment for patients with bladder cancer
  • Insmed (INSM) says it experienced positive results from a Phase 3 study of the company’s treatment for nontuberculous mycobacterial lung disease
  • Teleflex (TFX) enters into definitive agreement to acquire NeoTract, Inc., a privately-held medical device company, for $725 million in cash and additional milestone payments of up to $375 million
  • Cellect Biotechnology (APOP) announced that the U.S. Food and Drug Administration granted the company orphan drug status for its ApoGraft treatment for transplant-related diseases
  • Cellectis (CLLS) announced that the U.S. Food and Drug Administration placed a clinical hold on the company’s Phase 1 studies for the treatment of leukemia
  • Bellerophon Therapeutics (BLPH) says it experienced positive results from a Phase 2 clinical trial of its treatment for pulmonary hypertension

September 1, 2017 Company and Stock News

  • Bloomberg reported that Alphabet Inc. (GOOG) is forming a new holding company, called XXVI Holdings Inc., that will own the equity of each of the company’s subsidiaries
  • O’Reilly Automotive (ORLY) announced that its Board of Directors approved an increase in the company’s stock repurchase program by an additional $1 billion
  • Marathon Petroleum Corporation (MPC) contributes the company’s joint-interest ownership in certain pipelines and storage facilities to MPLX LP (MPLX) for $1.05 billion

August 31, 2017 Company and Stock News

  • Iovance Biotherapeutics (IOVA) announced that the U.S. Food and Drug Administration granted Fast Track designation for the company’s treatment for patients with advanced melanoma.

August 30, 2017 Company and Stock News

  • Amazon (AMZN) and Microsoft (MSFT) announced that they are collaborating on a project that will enable their voice-recognition applications, Alexa and Cortana, to communicate with each other
  • The Medicines Company (MDCO) announced that the U.S. Food and Drug Administration approved its VABOMERE™ treatment of adult patients with complicated urinary tract infections
  • Novartis AG (NVS) announced that the U.S. Food and Drug Administration approved its Kymriah™ drug for the treatment of patients who have acute lymphoblastic leukemia, a type of cancer that affects white blood cells

August 29, 2017 Company and Stock News

  • Western Digital (WDC) enters into definitive agreement to acquire Tegile Systems, a privately-held provider of flash and persistent-memory storage applications for enterprise data-center applications
  • A spokesperson for Twenty First Century Fox (FOXA) said the company decided to cease providing its Fox News service in the United Kingdom
  • The Advisory Board (ABCO) enters into agreements to sell its health care business to Optum, a privately-held provider of health services, for $1.3 billon and its education business to private-equity firm Vista Equity Partners for $1.55 billion
  • Acorda Therapeutics (ACOR) announced that it received a refusal letter from the U.S. Food and Drug Administration regarding the company’s New Drug Application for its treatment for people with Parkinson’s disease

August 28, 2017 Company and Stock News

  • The Wall Street Journal reported that Apple (AAPL) scheduled a product-announcement event for September 12, which suggests the company will soon release new versions of its iPhones and smartwatch
  • Western Digital (WDC) announced that it completed its acquisition of Upthere, a privately-held company that provides cloud-based storage for photos, videos and musical recordings
  • The Finish Line (FINL) says it expects to report earnings per share in a range of $0.08-$0.12 on revenues of $469.4 million for the three months ending August 31, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report earnings per share of $0.37 on revenues of $477 million
  • Gilead Sciences (GILD) and Kite Pharma (KITE) enter into definitive agreement pursuant to which Gilead will acquire Kite for $180.00 per share in cash
  • AVEO Pharmaceuticals (AVEO) announced that the European Commission approved the company’s once-daily treatment for adult patients with kidney cancer, in the European Union, Norway and Iceland

August 25, 2017 Company and Stock News

  • Amazon.com (AMZN) says it plans to open a new 855,000-square-foot fulfillment center in North Randall, Ohio and to hire approximately 2,000 people to work at the facility

August 24, 2017 Company and Stock News

  • Signet Jewelers (SIG) agrees to acquire R2Net, an online jewelry retailer and the owner of JamesAllen.com, for $328 million
  • Amazon.com (AMZN) and Whole Foods Market (WFM) announced that Amazon’s acquisition of Whole Foods will close on Monday August 28, 2017, and that beginning Monday Whole Foods will offer lower prices on certain grocery items
  • IMAX Corporation (IMAX) says it’s planning to open a new virtual reality center at a Cineplex theater in Toronto, Canada, as well new IMAX auditoriums at Cineplex theaters in Toronto and Regina
  • Comcast Corporation (CMCSA) and Sunrun Inc. (RUN) enter into a 40-month agreement whereby Sunrun will be the exclusive residential solar-energy provider for Comcast, and Comcast will serve as one of Sunrun’s strategic partners through marketing campaigns
  • Wal-Mart (WMT) launches Express Money Services, a feature that enables the company’s customers to expedite money services transactions
  • Adamas Pharmaceuticals (ADMS) announced that the U.S. Food and Drug Administration approved the company’s treatment for involuntary movements in patients with Parkinson’s disease

August 23, 2017 Company and Stock News

  • Amazon (AMZN) and Whole Foods (WFM): The U.S. Federal Trade Commission (“FTC”) announced that it decided not pursue whether Amazon.com’s (AMZN) planned acquisition of Whole Foods Market (WFM) would lessen substantially competition under Section 7 of the Clayton Act
  • McDonald’s (MCD) says that beginning during January 2018 it will eliminate antibiotics in broiler chickens sold in the United States, Canada, Europe, Japan South Korea and Brazil
  • Lowe’s Companies (LOW) says it expects to report diluted earnings per share in a range of $4.20-$4.30 on a 5% year-over-year increase in the company’s revenues for its fiscal 2017 year ending February 2, 2018
  • Stryker Corporation (SYK) issues a voluntary recall for specific lots of the company’s Oral Care products and places a temporary hold on its cloth-based products due to a potential contamination of those products that are manufactured by the third-party supplier; as a result of the impact of its recall, the company expects its full-year 2017 adjusted net earnings per diluted share to be at the lower end of its previously-stated range of $6.45-$6.55
  • PVH Corp. (PVH) raises its full-year earnings per share estimate to a range of $6.44-$6.54, from an earlier estimate of $6.24-$6.34
  • YuME (YUME): says it’s in discussions with RhythmOne plc regarding a potential business relationship with RhythmOne
  • Wal-Mart (WMT) enters into strategic partnership with Alphabet, Inc’s (GOOG) Google unite, whereby the company will offer hundreds of thousands of items for voice shopping via Google Assistant

August 22, 2017 Company and Stock News

  • Sears Holdings (SHLD) signs manufacturing licensing agreements with Cleva North America, Inc. and Dorcy, International to expand its offerings of the company’s Kenmore and DieHard products
  • Kohl’s (KSS) says it will open four small-format stores and its fifth e-commerce fulfillment center between now and the end of October; the company stated that by the end of this year approximately half of its stores will be operationally smaller
  • JC Penney (JCP) launches a new children’s bedding and decor brand, Frank + Lulu
  • Salesforce.com (CRM) says it expects to report earnings per diluted share in a range of $0.07-$0.09 on revenues of $10.35-$10.40 billion for the company’s fiscal year ending January 31, 2018
  • Cree (CREE) says it expects to report adjusted earnings per share in a range of $0.02-$0.06 on revenues of $353-$367 million for the quarter ending September 30, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report $0.11 in adjusted earnings per share on revenues of $361 million
  • Ultragenyx Pharmaceutical (RARE) says it experienced disappointing results from a Phase 3 study of the company’s treatment for severe muscle diseases

August 21, 2017 Company and Stock News

  • Cisco Systems (CSCO) says it intends to acquire Springpath, Inc., a privately-owned developer of hyper convergence software, for $320 million in cash and assumed equity awards
  • Herbalife (HLF) commences a modified Dutch auction offer to purchase up to $600 million of its common stock at a per share price not less than $60 nor greater than $68
  • Reuters reported that Chinese auto maker Great Wall Motor Co. is planning to make an offer to acquire Fiat Chrysler Automobiles N.V. (FCAU)
  • Nordson Corporation (NDSN) says it expects to report diluted earnings per share in a range of $1.18-$1.32 for the three months ending October 31, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report $1.56 in earnings per diluted share
  • The Wall Street Journal reported that Sempra Energy (SRE) has reached a deal to acquire Oncor Electric Delivery Company for $9.45 billion
  • Build-A-Bear Workshop (BBW) announced that its Board of Directors authorized the company to repurchase up to $20 million of its stock
  • The Container Store (TCS) adjusts its earnings per share estimate for the company’s fiscal year ending April 1, 2018 as a result of incurring $7 million of incremental interest expense and debt extinguishment costs of approximately $2 million
  • Francesca’s Holdings (FRAN) says it expects to report $0.02 in earnings per diluted share on a 3% decline in its same-store sales for the three months ended July 29, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report $0.16 in earnings per diluted share
  • Champions Oncology (CSBR) enters into a strategic collaboration with AstraZeneca PLC (AZN) to develop new models to research and develop treatments for breast and lung cancer

August 18, 2017 Company and Stock News

  • Caterpillar (CAT): Caterpillar Inc. announced that its retail sales of machines rose by 12% for the three months ended July 31, 2017, as compared to the same period a year ago.
  • Hibbett Sports (HIBB): Hibbett Sports, Inc. announced that it reduced its full-year fiscal 2018 earnings per diluted share estimate to a range of $1.25-$1.35, from a previous estimate of $2.35-$2.55, and its same-store sales estimate to a change in the range of negative mid-to-high single-digit from a prior estimate of negative 1.0% to positive 1.0%.
  • Calpine Corp. (CPN): Calpine Corporation announced that it entered into a definitive agreement under which Energy Capital Partners and a consortium of investors led by Access Industries and Canada Pension Plan Investment Board will acquire the company for $15.25 per share in cash, or $5.6 billion.

August 17, 2017 Company and Stock News

  • Ross Stores (ROST) says it expects to report fiscal 2018 earnings per share in a range of $3.16-$3.23; in comparison, Wall Street analysts were expecting, on average, for the company to report full-year earnings per share of $3.17
  • The Gap, Inc. (GPS) increases its fiscal 2018 earnings estimate to a range of $2.02-$2.10, from a previous estimate of $1.95-$2.05
  • The Wall Street Journal reported that Energy Capital Partners is nearing a deal to acquire Calpine Corporation (CPN) for $15.25 per share, or approximately $5.5 billion

August 16, 2017 Company and Stock News

  • Target (TGT) says it now expects to report adjusted earnings per share from continuing operations for the full year of 2017 to be in a range of $4.34-$4.54, as compared to a prior estimate of $3.80 to $4.20
  • Cisco Systems (CSCO) says it expects to report non-GAAP earnings per share in a range of $059-$0.61 on a 1%-3% year-over-year decline in the company’s revenues for the three months ending July 31, 2017; in comparison, Wall Street analysts were expecting the company to report $0.60 in non-GAAP earnings
  • TechCrunch reported that Alphabet Inc.’s (GOOG) Google unit acquired Belarus-based AlMatter, a developer of a neural network-based artificial intelligence platform
  • L Brands (LB) lowers its earnings per share estimate for the company’s fiscal full-year ending January 28, 2018 to a range of $3.00-$3.20, from a previous estimate of $3.10-$3.40
  • Tyson Foods (TSN) says it will invest $84 million in the company’s Union City, Tennessee poultry plant and hire more than 300 people to work at the facility

August 15, 2017 Company and Stock News

  • Amazon (AMZN) launches “Instant Pickup”, a free service that offers Prime and Prime Student members a curated selection of snacks, drinks and electronics, as well as some of Amazon’s popular devices, for pickup in two minutes or less
  • Fifth Third Bancorp (FITB) enters into share repurchase agreement with The Goldman Sachs Group, Inc. to buy back approximately $990 million of its outstanding common stock
  • Transocean (RIG) enters into agreement to acquire all of the outstanding shares of Songa Offshore SE for approximately $3.4 billion
  • Bristol-Myers (BMY) says it experienced disappointing results from a Phase 3 study of the company’s drugs for renal cancer

August 14, 2017 Company and Stock News

  • CNBC reported that Aetna (AET) and Apple (APPL) held a series of discussions on August 10 and 11 regarding a potential offering of Apple’s smartwatch to Aetna’s 23 million health insurance members
  • V.F. Corporation (VFC) signs definitive agreement to acquire Williamson-Dickie Mfg. Co. for approximately $820 million in cash
  • Target Corporation (TGT) announced that it plans to acquire Grand Junction, a technology company that help retailers make deliveries faster and more efficiently
  • CNBC reported that Alphabet Inc.’s (GOOG) Google unit will pay Apple Inc. (AAPL) approximately $3 billion during 2017 for being the default search engine on Apple’s devices
  • Andveaor Logistics LP (ANDV) and Western Refining Logistics, LP (WNRL) announced that Andeavor Logistics will acquire Western Refining Logistics in a unit-for-unit transaction for a total enterprise value of $1.8 billion

August 11, 2017 Company and Stock News

  • Tesla (TSLA) says it agreed to $1.80 billion in aggregate principal amount of senior notes due in 2025 at a 5.30% annual coupon rate
  • Snap Inc. (SNAP) reported that it acquired Zenly SAS, a developer of location-based social media applications, for $213.3 million, and a separate company that operates a cloud-based platform for building content online for $62.1 million, during May and March of this year, respectively
  • DryShips (DRYS) announced that it will sell the company’s common shares in a private-placement to entities affiliated with its Chairman and Chief Executive Officer, George Economou, for $2.75 per share, or $100 million

August 10, 2017 Company and Stock News

  • Invitation Homes (INVH) and StarWood Waypoint Homes (SFR) sign definitive agreement to combine in a 100% stock-for-stock merger-of-equals transaction
  • JetBlue Airways (JBLU) announced that its revenue passenger miles rose by 5.1% during July, as compared to the same month a year ago
  • Macy’s (M) says it expects to report adjusted earnings per share in a range of $2.90-$3.15 for the full year 2017 on a 3.2%-4.3% year-over-year decrease in the company’s revenues; in comparison, Wall Street analysts were estimating, on average, for the company to report 2017 adjusted earnings per share of $3.27
  • PayPal (PYPL) agrees to acquire Swift Financial, a provider of working capital services to U.S. small businesses

August 9, 2017 Company and Stock News

  • Reuters reported that Tesla (TSLA) is developing an autonomous-driving long-haul, electric semi-truck that can move in “platoons” and automatically follow a lead vehicle
  • American Airlines (AAL) reported that its revenue passenger miles rose during July to a record 21.9 billion miles, increasing by 0.8%, as compared to the same month a year ago
  • Masonite International (DOOR) says it no longer expects the company’s full-year 2017 adjusted earnings to within the $4.10-$4.60 range that it had estimated earlier

August 8, 2017 Company and Stock News

  • The Walt Disney Company (DIS) announced that it will launch an ESPN streaming service during 2018 and a Disney direct-to-consumers service during 2019, and that the company will end its distribution deal with Netflix (NFLX)
  • AMC Entertainment (AMC) announced that it sold the company’s 50% ownership interest in Open Road Releasing, LLC to Tang Media Partners for $28.8 million
  • United Parcel Service (UPS) announced that beginning on August 14 it will provide a free online tool that allows e-commerce merchants to customize return shipments and for non-business customers to print a return shipping label directly from ups.com
  • FibroGen (FGEN) says it experienced positive results from a Phase 2 clinical trial of the company’s treatment for fibrosis
  • Envision Healthcare (EVHC) announced that Medical Group Holdings will acquire the company’s medical transportation subsidiary for $2.4 billion, in cash

August 7, 2017 Company and Stock News

  • Tesla (TSLA) says it intends to offer $1.5 billion of its senior notes due 2025 to strengthen the company’s financial position
  • Snap-On Incorporated (SNA) announced that its board of directors authorized the company to repurchase up to $500 million of its common stock
  • OnDeck Capital (ONDK) announced that it expanded its collaboration with JPMorgan Chase for up to four years to provide technology applications to support JPMorgan’s online lending platform to its small business customers
  • Alibaba Group Holding Limited (BABA) and Marriott International (MAR) establish a joint venture that will allow Alibaba users to book Marriott hotels and use loyalty points on Alibaba’s Internet web site
  • Netflix (NFLX): Netflix, Inc. announced that it acquired Millarworld, the comic book publishing company founded by Mark Millar
  • Office Depot (ODP) says it plans to launch same-day delivery services on August 28 in Atlanta, Georgia and Los Angeles, California; and on September 6 in Ft. Lauderdale/Miami, Florida
  • MyoKardia (MYOK) says it experienced positive results from a Phase 2 Study of the company’s mavacamten therapy, a treatment for obstructive hypertrophic cardiomyopathy, which occurs when heart muscle cells enlarge and block blood flow, and is a common cause of sudden cardiac arrest
  • Zynerba Pharmaceuticals (ZYNE) says it experienced disappointing results from a Phase 2 clinical trial of the company’s treatment for epilepsy
  • Mylan N.V. (MYL) announced that it received tentative approval from the U.S. Food and Drug Administration for the company’s drug for use as a first-line regimen for people being treated for HIV/AIDS

August 4, 2017 Company and Stock News

  • Electronics for Imaging (EFII) says it’s delaying the release of the company’s second-quarter earnings in response to the discovery of a material weakness in its financial accounting controls
  • E.I. du Pont de Nemours and Company (DD) and The Dow Chemical Company (DOW) announced that all required regulatory approvals and clearances have been received and that their merger of equals will close on August 31, 2017; shares of the new entity will begin trading on the New York Stock Exchange on September 1 under the ticker symbol DWDP
  • United Technologies (UTX): Bloomberg reported that United Technologies Corporation (UTX) is considering an acquisition of Rockwell Collins (COL)
  • Wells Fargo & Company (WFC) reported that that a review of the company’s sales practices “may lead to a significant increase in the identified number of potentially unauthorized accounts”; separately, the company announced that it agreed to settle a lawsuit regarding Veterans Administration loans for $108 million
  • Eli Lilly and Company (LLY) says it experienced positive results from a Phase 3 Study of the company’s lasmiditan drug for the treatment of migraines
  • MarketWatch reported that Gilead Sciences (GILD), GlaxoSmithKline (GSK) and Novartis (NVS) are considering an acquisition of United Therapeutics Corporation (UTHR)

August 3, 2017 Company and Stock News

  • General Motors (GM) announced that its joint ventures in China set a July record for deliveries, with the company’s sales increasing by 6.3%, as compared to the same month a year ago, to 287,581 vehicles
  • Consumer Reports reported that General Motors’ (GM) Volt electric car performed so well on its overall tests that it now ranks number 2 among all-electric vehicles, trailing only the far more expensive Tesla, Inc’s (TSLA) Model S; Consumer Reports stated that GM’s Volt set a record for mileage, reaching 250 miles on a single battery charge
  • Global Payments (GPN) enters into agreement to acquire the communities and sports divisions of ACTIVE Network from Vista Equity Partners for approximately $1 billion
  • Bed Bath & Beyond (BBBY) announced that it initiated a reduction of approximately 880 Department and Assistant Store Manager positions, which the company expects to lower its annual pre-tax operating expenses by approximately $16 million
  • GrubHub Holdings (GRUB) says it will acquire Yelp’s Eat24 business for $287.5 million, and Yelp will integrate GrubHub’s online ordering platform, as part of a long-term strategic partnership agreement
  • Dynavax Technologies Corporation (DVAX) announced that the U.S. Food and Drug Administration requested more detailed information about the company’s proposed post-marketing study for its Hepatitis B Vaccine, HEPLISAV-B™
  • Bristol-Myers Squibb Company (BMY) signs definitive agreement with IFM Therapeutics, a privately-held biotechnology company that’s developing therapies that help the immune system to treat cancer, to acquire IFM for $300 million and additional contingent payments of up to $1 billion
  • Ubiquiti Networks says it expects to report earnings per diluted share in a range of $3.70-$4.30 on revenues of $1.0-$1.15 billion for the company’s fiscal 2018 year ending June 30, 2018; in comparison, Wall Street analysts were estimating, on average, for the company to report fiscal year 2018 earnings of $3.24 billion on revenues of $938.7 million
  • Fluor Corporation (FLR) lowers its earnings estimate for the year ending December 31, 2017 to a range of $1.40-$1.70 a share, from an earlier estimate of $2.25-$2.75 per diluted share; in comparison, Wall Street analysts were estimating, on average, for the company to report full-year 2017 earnings of $2.42 per diluted share
  • Activision Blizzard (AVTI) says it expects to report non-GAAP earnings per diluted share of $1.94 on revenues of $6.4 billion for the year ending December 31, 2017; in comparison, Wall Street analysts were estimating, on average, for the company to report full-year 2017 earnings of $2.02 per diluted share on revenues of $6.5 billion
  • Callaway Golf (ELY) increases its earnings estimate for the year ending December 31, 2017 to a range of $0.40-$0.45 per diluted share on revenues of $980-$995 million from an earlier estimate of $0.31-$0.37 per diluted share on revenues of $960-$980 million
  • Weight Watchers (WTW) increases its earnings estimate for the year ending December 31, 2017 to a range of $1.57-$1.67 per diluted share from an earlier estimate of $1.40-$1.50
  • Shake Shack (SHAK) says it expects to report full-year 2017 revenues in a range of $351-$355 million; in Wall Street analysts were estimating, on average, for the company to report year 2017 revenues of $356.7 million

August 2, 2017 Company and Stock News

  • Garmin (GRMN) says it expects to report pro forma earnings per share of $2.69-$2.80 on revenues of $3.04 billion for the year ending December 31, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report earnings per share of $2.69 on revenues of $3.01 billion
  • Reuters reported that the U.S. Consumer Financial Protection Bureau ordered JPMorgan Chase & Co. (JPM) to pay $4.6 million for allegedly failing to ensure that it reported accurate information for checking account screening reports
  • Symantec (SYMC) signs agreement to sell its website security business to DigiCert Inc. for $950 million in cash and a 30% common stock interest in DigiCer; separately, the company said it expects to report adjusted earnings per share of $0.40-$0.44 on revenues of $1.26-$1.29 billion for the company’s fiscal second quarter ending September 30, 2017

August 1, 2017 Company and Stock News

  • Under Amour (UAA) lowered its full-year 2017 revenue projection to a year-over-year increase of 9%-11%, from an earlier estimate of 11%-12%, and said it expects to report a profit in a range of $0.18-$0.21 per share diluted share; additionally, the board of directors approved a restructuring plan that will result in pre-tax restructuring charges of approximately $110-130 million for the year ending December 31, 2017
  • Simon Property Group (SPG) says it increased its full-year 2017 net income estimate by $0.04, as compared to an earlier estimate, to a range of $6.20-$6.28 per diluted share
  • The E.W. Scripps Company (SSP) announced that it acquired Katz broadcast networks for a net purchase price of $292 million in a deal valued at $302 million
  • athenahealth (ATHN) announced that it has identified approximately $100 million in cost-savings opportunities as a result of conducting a review of the company’s operations
  • Herbalife (HLF) says it expects to report adjusted earnings per share of $0.65-$0.85 for the quarter ending September 30, 2017; in comparison, Wall Street analysts were estimating, on average, for the company to report adjusted earnings per share of $1.22
  • The Allstate Corporation (ALL) announced that its board of directors approved a $2 billion stock repurchase plan
  • Hanesbrands (HBI) says it expects to report adjusted earnings per share for continuing operations of $1.93-$2.03 on revenues of $6.45-$6.55 billion for the full year ending December 31, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report $1.97 per share on revenues of $6.44 billion
  • SunPower (SPWR) says it expects to report a net loss of $100-$120 million on revenues of $300-$350 for the quarter ending September 30, 2017; in comparison, Wall Street analysts were expecting, on average, for the company to report third-quarter revenues of $674.7 million
  • AMC Entertainment (AMC) says it expects to report a net loss of $174.5-$178.5 million (or $1.34-$1.36 per diluted share) on revenues of $1,200-$1,204 million for the quarter ended June 30, 2017; in comparison, Wall Street analysts were estimating, on average, for the company to report a loss of $0.03 per diluted share on revenues of $1.246 billion

July 31, 2017 Company and Stock News

  • Discovery Communications (DISCA) and Scripps Networks (SNI) sign definitive agreement for Discovery to acquire Scripps in a cash-and-stock transaction valued at $14.6 billion, or $90 per share
  • Bristol-Myers (BMY) and Clovis Oncology (CLVS) enter into a clinical collaboration agreement to evaluate a combination of Bristol-Myers immunotherapy Opdivo and Clovis Oncology’s Rubraca drug in Phase 3 clinical trials for advanced ovarian cancer and advanced breast cancer
  • Devon Energy (DVN) reported that its proceeds from the company’s recently-announced $1 billion divestiture program have reached $340 million
  • Dynavax Technologies (DVAX) announced that the U.S. Food and Drug Administration’s Vaccines and Related Biological Products Advisory Committee voted 12 to 1 to approve the company’s immunization treatment for hepatitis B
  • International Paper (IP) says it will make a $1.25 billion voluntary contribution to the company’s defined benefit pension plan by September 15, 2017
  • GrubHub (GRUB) and Groupon (GRPN) enter into an agreement that will allow Groupon to provide its users with the ability to order food delivery from Grubhub’s 55,000 restaurant partners via the Groupon platform
  • Tribune Media Company announced that it sold the majority of its ownership interest in CareerBuilder to an investor group led by investment funds managed by affiliates of Apollo Global Management, LLC (APO) and the Ontario Teachers’ Pension Plan Board for approximately $158 million

July 28, 2017 Company and Stock News

  • Aaron’s (AAN) announced that it acquired substantially all of the assets of its largest franchisee, SEI/Aaron’s, Inc., in an all-cash transaction valued at approximately $140 million
  • MarketWatch reported that Wells Fargo & Company (WFC) charged approximately 800,000 thousands of customers for car insurance they didn’t need, leading to delinquencies and repossessions
  • Goodyear Tire & Rubber (GT) reported that it reduced its full-year 2017 segment operating income to $1.6-$1.65 billion, from an earlier estimate of approximately $2.0 billion
  • Electronic Arts (EA) said it expects to lose approximately $57 (or $0.18 per diluted share) for its fiscal second quarter ending September 30, 2017
  • Ellie Mae (ELLI) announced that it reduced its adjusted net income and revenue estimates for the year ending December 31, 2017 to a range of $1.47-$1.50 per diluted share on revenues of $400-$405 million, from an earlier estimate of $1.79-$1.92 on revenues of $433-$44
  • Bojangles’ (BOJA) announced that it reduced its adjusted earnings and revenue estimates for the year ending December 31, 2017 to a range of $0.81-$0.84 per diluted share on revenues of $549-$553, from an earlier estimate of $0.87-$0.93 on revenues of $560-$569 million

July 27, 2017 Company and Stock News

  • Best Buy (BBY) says it will add Dyson shops in 90 of its U.S. brick and mortar stores during August
  • Amazon (AMZN) announced that it plans to open its second fulfillment center in Romulus, Michigan and to hire more than 1,500 people to work full-time at the 855,000-square-foot facility
  • AstraZeneca (AZN) reported that a Phase 3 clinical trial of the company’s Imfinzi and tremelimumab drugs for lung cancer failed to produce positive results
  • Starbucks (SBUX) enters into a definitive agreement to acquire the remaining 50% share of its East China business from its joint venture partners, Uni-President Enterprises Corporation (“UPEC”) and President Chain Store Corporation (“PPSC”), for approximately $1.3 billion in cash; additionally, the company said it will close all 379 of the company’s Teavana stores over the coming year
  • The Financial Times reported that AT&T (T) sold $22.5 billion of corporate debt in seven tranches to finance its $85 billion planned acquisition of Time Warner Inc. (TWX)
  • Reuters reported that members of the Nordstrom family, who own approximately 31% Nordstrom, Inc., are offering preferential terms to potential investors, including Leonard Green & Partners LP, Apollo Global Management LLC and KKR & Co LLP, that are willing to provide funding to take the firm private
  • Neiman Marcus: MarketWatch reported that Neiman Marcus Group is reducing its workforce by approximately 225 employees

July 26, 2017 Company and Stock News

  • Apple (AAPL): Reuters reported that Taiwanese electronics manufacturer Hon Hai Precision Industry Co. Ltd., which is a major supplier of screens for Apple Inc.’s smartphones, announced plans to build a $10 billion, 20-million square foot LCD display panel screen plant in Wisconsin
  • Markel Corporation (MKL) and State National Companies (SNC) enter into a definitive agreement under which Markel will acquire all of the outstanding shares of State National’s common stock for $21.00 per share in cash
  • Eagle Pharmaceuticals (EGRX) reported that the U.S. Food and Drug Administration did not approve the company’s RYANODEX drug for the treatment of exertional heat stroke
  • Pluristem Therapeutics (PSTI) says it experienced positive results from a Phase 2-equivalent clinical trial of the company’s treatment for Acute Radiation Syndrome

July 25, 2017 Company and Stock News

  • Michael Kors Holdings (KORS) to acquire Jimmy Choo PLC for approximately $1.35 billion
  • Neuralstem, Inc. (CUR) says that its treatments for nervous system diseases failed to pass a Phase 2 clinical trial
  • Reuters reported that Walgreens Boots Alliance (WBA) will create 191 new jobs in a new facility in Chandler, Arizona, and relocate 300 of its employees to that facility later this year

July 24, 2017 Company and Stock News

  • WebMD (WBMD) enters into definitive agreement with Internet Brands, a KKR portfolio company, whereby a subsidiary of Internet Brands will acquire all of the issued and outstanding shares of WebMD’s common stock for $66.50 per share in a transaction valued at approximately $2.8 billion
  • Hibbett Sports (HIBB) says it expects its comparable-store sales to decrease by approximately 10% for the company’s fiscal second quarter ending July 29, 2017, resulting in a second-quarter loss of $0.19-$0.22 per diluted share
  • Eli Lilly (LLY) and Nektar Therapeutics (NKTR) enter into a strategic collaboration to co-develop Nektar’s NKTR-358, an immunological therapy that has the potential to treat autoimmune and other chronic inflammatory conditions; as a result of the collaboration, Lilly expects to incur a $0.09 per share research and development charge to its 2017 earnings
  • J.C. Penney (JCP) says it’s is now offering Apple Inc.’s mobile payments application, Apple Pay, at the company’s brick and mortar stores throughout the United States

July 21, 2017 Company and Stock News

  • Reuters reported that Siemens AG (SIEGY) will end a joint-venture with a Russian power plant after four gas turbines that it sold for use in Russia were illegally moved to Crimea
  • Plug Power (PLUG) enters into agreement with Wal-Mart (WMT), whereby Wal-Mart will allow Plug Power to access project financing at a lower cost of capital and no restricted cash; Plug Power said it expects to provide the company’s hydrogen fueling station and fuel cell energy services to up to 30 additional Wal-Mart sites in North America over the next three years, for a value of approximately $80 million
  • Endo International (ENDP) says it will cease the company’s operations at its manufacturing and distribution facilities in Huntsville, Alabama, and reduce its workforce by approximately 840 people, within the next 18 months
  • Reuters reported that a British court blocked an $18 billion class-action lawsuit against Mastercard (MA)

July 20, 2017 Company and Stock News

  • Sears Holdings (SHLD) launches its Kenmore appliance products on Amazon.com, as well as the integration of its full line of Kenmore Smart appliances with Amazon Alexa
  • Abercrombie & Fitch (ANF) launches the company’s offerings on Alibaba Group’s (BABA) Tmall, China’s largest platform for retail stores
  • A. Schulman (SHLM) lowers its full-year 2017 adjusted net income estimate to a range of $1.60-$1.70 per diluted share, from an earlier estimate of $2.08-$2.18, as a result of margin compression in the company’s European business
  • Citigroup (C) and Paypal (PYPL) expand their strategic agreement by enabling eligible Citigroup credit-card members to use their ThankYou Points to pay for all or part of purchases when shopping online at millions of merchants that accept PayPal in the United States
  • The U.S. Department of the Treasury reported that it fined Exxon Mobile (XOM) $2 million for violations of U.S. government sanctions regarding Ukraine
  • E-Trade Financial (ETFC) says it will launch a $1 billion stock repurchase plan
  • Super Micro Computer (SMCI) raises its fiscal fourth-quarter revenue estimate to a range of $712-$717 million, from a range of $655-$715 million, but lowers its non-GAAP earnings estimate to a range of $0.35-$0.37, from a range of $0.40-$0.50

July 19, 2017 Company and Stock News

  • United Continental (UAL) said it expects its revenue passenger miles to be in a range of down 1% to up 1% for the quarter ending September 30, 2017, as compared to the same period a year ago; in comparison, Wall Street analysts were estimating, on average, for the company’s revenue passenger miles to be flat to up 2% for the third quarter of this year
  • Cray (CRAY): Cray, Inc. reported that it commenced a restructuring plan that it expects to reduce the company’s expenses by approximately $25 million per year once its restructuring activities are completed; as part of the restructuring plan, the company expects to reduce its workforce by approximately 190 employees, with the vast majority of such terminations to be effective by July 21, 2017

July 18, 2017 Company and Stock News

  • Puma Biotechnology (PBYI) announced that the U.S. Food and Drug Administration approved the company’s once-daily oral treatment for adult patients with early-stage breast cancer, NERLYNX
  • Harley-Davidson (HOG) reduces its estimates for the company’s shipments of motorcycles to a range of 241,000-246,000 for the full-year ending December 31, 2017, which would be approximately 6%-8% lower than during 2016
  • IMAX Corporation (IMAX) signs agreement with Shanghai Bestar Cinemas Management Co. Ltd. to open seven new theatres in China
  • Wal-Mart (WMT) opens new e-commerce 50-acre fulfillment center in Davenport, Florida
  • PayPal Holdings (PYPL) and Visa (V) extend their strategic partnership to Europe, whereby PayPal will use its banking license in Europe to join the Visa network of financial institutions and offer Visa accounts in Europe for persons to use wherever Visa is accepted  XX  CSX Corporation’s (CSX) board of directors authorizes additional $500 million common stock repurchase plan
  • Vertex Pharmaceuticals (VRTX) says it experienced positive results from Phase 1 and Phase 2 studies of the company’s treatment for cystic fibrosis
  • Brocade Communications (BRCD) and Broadcom (AVGO) agree to withdraw and re-file merger-related documents with the Committee on Foreign Investment in the United States
  • Reuters reported that Discovery Communications Inc. (DISCA) and Scripps Network (SNI) are considering a merger

July 17, 2017 Company and Stock News

  • Netflix (NFLX) says it added 5.2 million news subscribers during the quarter ended June 30, 2017
  • Church & Dwight (CHD) signs definitive agreement to acquire Water Pik, Inc. for approximately $1 billion in cash; additionally, the company stated that it expects to report earnings per share in a range that is considerably lower than estimates provided by Wall Street analysts for the year ending December 31, 2017
  • Valeant Pharmaceuticals (VRX) enters into agreement to sell its Obagi Medical Products business for $190 million in cash to Haitong International Zhonghua Finance Acquisition Fund I, L.P
  • The Kroger Co. (KR) reported that it will make a contribution to the company’s defined benefit plans this year in an amount of up to $1 billion to “significantly address the underfunded position of the plan”
  • Ross Stores (ROST) says it opened 21 Dress for Less and seven dd’s DISCOUNTS stores in 15 different U.S. states during June and July
  • Multi-Color Corp. (LABL) signs definitive agreement to acquire the Labels Division of Constantia Flexibles GmbH for approximately $1.3 billion
  • Dominion Diamond (DDC) enters into agreement to be acquired by The Washington Companies for $14.25 per share in cash
  • The Federal Reserve Board announced that it will fine BNP Paribas S.A. (BNP) and certain of the company’s U.S. subsidiaries $246 million for the firm’s unsafe and unsound practices in the foreign exchange markets

July 14, 2017 Company and Stock News

  • Cowen Research analyst John Blackleged downgraded Snap Inc. (SNAP) to “Market Perform” from “Outperform” as a result of increased competition for advertising revenues from Facebook Inc. (FB)
  • Harmonic (HLIT) lowered its revenue and earnings estimates for the quarter ended June 30, 2017 to an adjusted per-share loss in the range of $0.19-$0.21 on revenues of $80.0-$82.0 million, from a prior estimate of a $0.04 loss on revenues of $94.5-$102.5 million

July 13, 2017 Company and Stock News

  • Target (TGT) increases revenue and earnings estimates for the three months ending July 31, 2017 as a result of improved traffic and sales trends through the first two months of the quarter
  • J.C. Penney (JCP) says it’s opening toy shops in all of the company’s brick-and-mortar stores with a significantly expanded assortment available at JCPenney.com
  • JetBlue (JBLU) reported that its revenue passenger miles rose by 3.2% during June, as compared to the same month a year ago
  • Valeant Pharmaceuticals (VRX) announced that it will redeem the remaining approximately $500 million aggregate principal amount of its outstanding 6.75% Senior Notes due 2018; upon redemption of the Notes, Valeant will have reduced its debt by more than $4.8 billion since March 2016
  • Applied Optoelectronics (AAOI) said it expects to report adjusted earnings per share of $1.31-$1.36 on revenues of approximately $117.3 million; in comparison, Wall Street analysts were expecting, on average, for the company to report $1.15 in adjusted earnings per share
  • CyberArk Software (CYBR) lowers its revenue and earnings estimates for the quarter ended June 30, 2017 to a non-GAAP operating income in a range of $$8.5-$8.9 million on revenues of $57.0-$57.5 million, from a previous estimate of $10.9-$11.7 million on revenues of $61-$62 million
  • Mylan (MYL) announced that the U.S. Food and Drug Administration Oncologic Drugs Advisory Committee recommended approval of the company’s generic version of Roche’s breast-cancer drug Herceptin
  • Novartis (NVS) announced that the U.S. Food and Drug Administration Oncologic Drugs Advisory Committee recommended approval of the company’s treatment for B-cell acute lymphoblastic leukemia, a type of blood cancer
  • Sangamo Therapeutics (SGMO) announced that the U.S. Food and Drug Administration granted Fast Track designation for two of the company’s drugs to treat rare metabolic disorders

July 12, 2017 Company and Stock News

  • Amazon (AMZN) says its 2017 Prime Day Shopping Event, which occurred on July 11, was the company’s most successful Prime Day ever, with the company’s sales increasing by more than 60%, as compared to the prior year
  • American Airlines (AAL) says its revenue passenger miles rose by 0.8% during June, as compared to the same month a year ago, to 21 billion miles
  • Visa (V) launches a major effort to encourage businesses to go cashless by giving merchants increased ability to accept all forms of global digital payments
  • MarketWatch reported that PayPal (PYPL) said its users can now use the company’s payment processing application to pay for items in Apple’s (AAPL) App Store, Apple Music, iTunes and iBooks
  • NRG Energy (NRG) announces a Transformation Plan designed to strengthen the company’s earnings and cost competiveness, lower risk and volatility, and create significant shareholder value
  • The Federal Housing Finance Agency reported that Royal Bank of Scotland PLC (RBS) agreed to pay a $5.5 billion fine for its inappropriate sales of mortgage-backed securities between 2005 and 2007
  • Eli Lilly (LLY) enters into a settlement agreement with generic companies to resolve pending patent litigation regarding the company’s Cialis patent; as part of the settlement, the Cialis patent will expire on September 27, 2018
  • Cara Therapeutics (CARA) says it experienced positive results from a Phase 1 study of the company’s treatment for pruritus, a severe itching of the skin that’s a common symptom for patients with chronic renal failure
  • Mallinckrodt (MNK) announced that the U.S. Food and Drug Administration granted orphan drug designation for the company’s treatment for muscular dystrophy

July 11, 2017 Company and Stock News

  • Rent-A-Center (RCII) rejects offer from Vintage Capital Management, LLC to acquire the company for $15 per share
  • Sequential Brands (SQBG) expanding Martha Stewart line of office products exclusively at Staples’ (SPLS) stores
  • United Continental (UAL): says its revenue passenger miles rose by 3.4% during June, as compared to the same month a year ago
  • Logitech (LOGI) agrees to acquire ASTRO Gaming for $85 million in cash
  • CONSOL Energy (CNX) files registration statement to separate the company into two separate publicly-traded companies, a coal company and a natural gas exploration and production company
  • Halcon Resources (HK) enters into agreement to sell the company’s operating assets in the Williston Basin to an affiliate of Bruin E&P Partners for $1.4 billion in cash
  • Amicus Therapeutics (FOLD) says it plans to submit a drug application to the U.S. Food and Drug Administration for the company’s oral prescription medicine for fabry, a rare genetic disease that can cause a range of problematic symptoms in a person’s kidneys and cardiovascular system
  • Ocular Therapeutix (OCUL) reported that the U.S. Food and Drug Administration did not approve a marketing application for the company’s drug for eye-pain

July 10, 2017 Company and Stock News

  • Amazon (AMZN) says it plans to open an 850,000 square-foot “highly technological” fulfillment center utilizing robotics in Orlando, Florida during 2018, and to hire more than 1,500 full-time employees to work at the facility
  • Valeant Pharmaceuticals (VRX) said it used net proceeds from the company’s recent sale of its Dendreon Pharmaceuticals unit to pay down $811 million of the company’s senior secured term loans, and that it expects to pay down a total of $5 billion in debt by February 2018   XX  ClubCorp Holdings (MYCC) enters into definitive agreement to be acquired by Apollo Global Management, LLC for $17.12 per share in cash, or approximately $1.1 billion
  • Great Plains Energy (GXP) and Westar Energy (WR) decided to combine in a stock-for-stock merger of equals, creating a company with a combined equity value of approximately $14 billion
  • Arena Pharmaceuticals (ARNA) says it experienced positive results from a Phase 2 study of the company’s treatment for pulmonary arterial hypertension, a disease that causes high blood pressure in the lungs

July 5, 2017 Company and Stock News

  • Amazon (AMZN) says it will create 1,500 new full-time employment positions at the company’s first fulfillment center in Salt Lake City, Utah; separately, the company said it’s offering more than 100 deals today through July 17 via its Alexa-operated devices including the Echo, Amazon Tap, Fire TV and Fire tablets
  • Merck (MRK) said the U.S. Food and Drug Administration placed a hold on three of the company’s clinical studies of its blood cancer drug because of deaths experienced in the studies
  • Vantiv (VNTV) reaches agreement with Worldpay Group PLC, under which the company would pay Worldpay 3.85 pounds to per merge

July 3, 2017 Company and Stock News

  • Tesla’s (TSLA) CEO, Elon Musk, said he expects the company to begin production on its Model 3 sedan on July 7 and to deliver 30 of the $35,000-priced electric car to customers on July 28; Musk said he expects the company to produce 100 Model 3s during August, 1,500 during September and 20,000 per month by December of this year
  • AK Steel (AKS) signs agreement to acquire Precision Partners Holding Company for $360 million in cash
  • Watsco (WSO) increases its annual cash dividend to $5 per common share
  • Bankrate (RATE) enters into definitive agreement to be acquired by Red Ventures for $14 per common share, or approximately $1.4 billion, in cash
  • Iconix Brand (ICON) announced that it used proceeds from the recently-completed sale of the company’s entertainment segment to pay down approximately $345 million of its debt

June 30, 2017 Company and Stock News

  • Berkshire Hathaway Inc. (BRKB) announced that it will exercise stock warrants that it holds in Bank of American Corporation (BAC) to acquire 700 million shares of Bank of America’s common stock at an exercise price of $7.14 per share
  • Bemis Company (BMS) says it will reduce the size of its workforce by 300 people, or approximately 5% of the company’s global administrative workforce, over the next three years in an effort to improve its profitability
  • The Puget Sound Business Journal reported that Microsoft (MSFT) is planning to unveil a business reorganization on July 5, whereby the company will begin to focus more on its cloud-computing offerings
  • Reuters reported that The Kraft Heinz Company (KHC) signed an agreement to sell its Campbell, New York cheese plant to the Upstate Niagara Cooperative

June 29, 2017 Company and Stock News

  • Rite Aid Corporation (RAD) terminates agreement to sell 865 of its stores to Fred’s, Inc. (FRED)
  • Rite Aid (RAD) and Walgreens Boots Alliance (WBA) enter into asset purchase agreement, whereby Walgreens will purchase 2,186 of Rite Aid’s stores for $5.2 billion; companies terminate previously-planned merger agreement
  • NIKE, Inc.’s (NKE) CEO said the company will sell a limited assortment of its shoes, apparel and accessories through Amazon.com

June 28, 2017 Company and Stock News

  • Reuters reported that BMW A.G. is planning to introduce an electric version of its popular 3 Series during September that’s designed to compete directly with Telsa’s (TSLA) Model 3 sedan
  • CNBC reported that Alphabet, Inc. (GOOG) announced a partnership with Nutanix (NTNX), whose data center hardware and software provides a hybrid approach that bridges the gap between on-premise servers and cloud data centers
  • Paychex (PAYX) says it expects the company’s adjusted earnings per diluted share to increase by 7%-8% on a 5% increase in the company’s revenues for its fiscal year ending May 31, 2018; Wall Street analysts were estimating for the company’s fiscal 2018 earnings per diluted share to increase by 8.2% on a 6% increase in its revenues
  • Royal Philips (PHG) and Spectranetics (SPNC) enter into a definitive merger agreement, whereby Philips will acquire all of the issued and outstanding shares of Spectranetics for $38.50 per share

June 27, 2017 Company and Stock News

  • Reuters reported that the European Commission (“EC”) fined Alphabet, Inc.’s (GOOG) Google unit 2.4 billion euros ($2.7 billion) for illegally giving prominent placement in Google search results to its comparison shopping service
  • Darden Restaurants (DRI) raises its quarterly cash dividend by 12.5%, to $0.63 per common share
  • Visa (V) says it will invest an undisclosed amount of money into Klarna, one of Europe’s faster-growing providers of online payment services
  • Nestle (NSRGY) reported that its Board of Directors approved a share repurchase program of up to 20 billion Swiss francs ($20.8 billion)

June 26, 2017 Company and Stock News

  • The New York Times reported Friday evening that Arconic Inc. (ARNC) produced the flammable aluminum sheets and polyethylene materials used for the façade of London’s Grenfell Tower, which burned on June 14 resulting in 79 deaths
  • Reuters reported that Australian-based Collins Foods Ltd. will acquire 28 of Yum! Brands (YUM) restaurants in Australia for $110 million
  • Martin Marietta Materials (MLM) enters into definitive agreement to acquire Bluegrass Materials Company for $1.625 billion in cash
  • The Hartford Financial Services Group (HIG) enters into agreement with Prudential Financial (PRU) for Hartford’s pension plan to purchase a group annuity contract from Prudential and to transfer $1.6 billion, or 29% of Hartford’s $5.6 billion in U.S. qualified pension plan liabilities, to Prudential
  • Avis Budget Group (CAR) signs agreement with Alphabet Inc.’s (GOOG) Waymo unit to offer fleet support and maintenance services for Waymo’s self-driving car program at Avis Car Rental and Budget Car Rental locations
  • Bloomberg reported that Apple (AAPL) is leasing a small fleet of cars from Hertz Global Holdings (HTZ) to test its self-driving technology
  • Western Digital (WDC) increases its non-GAAP earnings per share to $2.85, from a previous estimate of $2.55-$2.65, on revenues of approximately $4.8 billion for the three months ending June 30, 2017

June 23, 2017 Company and Stock News

  • Reuters reported today that Wal-Mart Stores (WMT) is not actively considering making an offer to acquire Whole Foods Market (WFM)
  • Medtronic (MDT) increase its quarterly cash dividend by 7%, to $0.46, or $1.84 on an annualized basis, per ordinary share; additionally, the company’s board of directors authorized it to repurchase up to $5 billion of its company’s ordinary shares
  • Synchronoss Technologies (SNCR) says it received a non-binding indication of interest from Siris Capital Group, LLC to acquire all of the company’s common stock for $18.00 per share in cash
  • Forestar Group (FOR) receives a revised binding proposal from D.R. Horton (DHI) to acquire 75% of the company’s common stock for $17.75 per share in cash
  • Repligen (RGEN) enters into definitive agreement to acquire privately-held Spectrum, Inc. for approximately $359 million
  • AVEO Pharmaceuticals (AVEO) reported that the scientific committee of the European Medicines Agency recommended the company’s treatment for patients with advanced renal cell cancer for approval in Europe
  • Portola Pharmaceuticals (PTLA) announced that the U.S. Food and Drug Administration approved the company’s treatment for blood clots that form in veins in adult patients

June 22, 2017 Company and Stock News

  • Reuters reported that Private equity firm Sycamore Partners is in advanced talks to acquire Staples (SPLS)
  • American Airlines (AAL) reported that it received an unsolicited notice from Qatar Airways indicating Qatar Airways’ intention to make a significant investment in American Airlines
  • Boomberg reported that Marriot International, Inc.’s (MAR) Ritz-Carlton unit is planning to launch a luxury cruise service with three yachts during the fourth-quarter of 2019

June 21, 2017 Company and Stock News

  • Actuant (ATU) announced that it expects its full-year fiscal 2017 adjusted earnings per share to be in a range of $0.82-$0.87 on revenues of $1.08-$1.09; in comparison, Wall Street analysts were estimating, on average, for Actuant to report adjusted earnings per share of $0.99 on revenues of $1.09 billion for the company’s fiscal year ending August 31, 2017
  • Nationstar Mortgage (NSM) announced that it moved the company’s international call center operations back to the United States, creating 500 new jobs
  • Ebay (EBAY) launches a Price Match Guarantee on more than 50,000 items in the United States, including electronic devices, home & garden supplies and apparel
  • Etsy (ETSY) announced that it’s reducing the company’s workforce by approximately 230 positions

June 20, 2017 Company and Stock News

  • PAREXEL International (PRXL) enters into definitive agreement with Pamplona Capital Management under which Pamplona will acquire all of the outstanding shares of PAREXEL for $88.10 per share in cash in a transaction valued at approximately $5.0 billion
  • Chipotle Mexican Grill (CMG) reported that it expects the company’s comparable-restaurant sales to increase in the high single digits for the year ending December 31, 2017; in comparison, Wall Street analysts were estimating, on average, for the company’s full-year 2017 same-store sales to increase by 10.1%
  • Amazon.com (AMZN) launches Prime Wardrobe, a new free service for Prime members that offers customers discounts when they order, and keep, multiple items of clothing, shoes or accessories; customers will have seven days to try the items before returning unwanted merchandise
  • Novartis AG (NVS) says it experienced positive results from a Phase 3 clinical trial of the company’s drug for macular degeneration, an age-related eye disease

June 19, 2017 Company and Stock News

  • Stryker Corporation (SYK) and NOVADAQ Technologies (NVDQ) enter into definitive agreement under which Stryker will acquire NOVADAQ, a developer of fluorescence imaging technology that provides surgeons with visualization of blood flow in vessels for $701 million, or $11.75 per share
  • Philip Morris (PM) announced that it plans to invest approximately $320 million in a new high-tech facility in Dresden, Germany to produce tobacco units to be used with the company’s electronic tobacco heating device IQOS
  • Clovis Oncology (CLVS) says it experienced positive results from a Phase 3 trial of the company’s ovarian cancer drug, rucaparib, and that plans to submit a supplemental New Drug Application for rucaparib with the U.S. Food and Drug Administration within the next four months
  • Hess Corporation (HES) enters into agreement to sell the company’s interests in enhanced oil recovery assets in the Permian Basin to Occidental Petroleum Corporation (OXY) for a $600 million
  • Hasbro (HAS) launches the company’s first subscription service, Hasbro Gaming Crate, which offers an exclusive collection of games for $49.99
  • PerkinElmer (PKI enters into agreement with Dr. Winfried Stocker and his affiliated investment holding company, whereby PerkinElmer will acquire 100% of the outstanding securities of EUROIMMUN Medical Laboratory Diagnostics A.G., an infectious disease and allergy testing business, for €1,200,000,000 ($1.3 billion)
  • Seattle Genetics (SGEN) says it’s discontinuing the company’s Phase 3 clinical trial of its acute myeloid leukemia treatment, SGN-CD33A, after data indicated a higher rate of deaths, including fatal infections

June 16, 2017 Company and Stock News

  • Amazon.com (AMZN) and Whole Foods Market (WFM) enter definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion
  • Wal-Mart (WMT) enters into agreement to acquire Bonobos, Inc., an online provider of men’s clothing, for $310 million in cash

June 15, 2017 Company and Stock News

  • Reuters reported that Fiat Chrysler (FCAU) is recalling 297,000 of its 2011-2012 model-year Dodge Grand Caravan minivans in North America because of a wiring problem that can lead to inadvertent air bag deployments
  • The Michaels Companies’ (MIK) announced that its Board of Directors authorized the company to repurchase up to $500 million of its common stock
  • The Kroger Co. (KR) announced that it lowered its earnings estimates for the company’s fiscal year ending January 31, 2017 to $1.74-$1.79 per adjusted diluted share, from an earlier estimate of $2.21-$2.25 per adjusted diluted share
  • Amazon (AMZN) launches its Prime Now one- and two-hour delivery service in Denver, whereby the company’s customers can have tens of thousands of items, including groceries, delivered to their home
  • CIT Group (CIT) enters into common stock repurchase agreement with Morgan Stanley to buy back $512 million of the company’s common shares
  • Nucor Corporation (NUE) says it expects its diluted earnings per share for the quarter ending June 30, 2017 to be lower than Wall Street analysts are estimating, but that it expects the U.S. government’s investigation of imports of steel into the United States at prices lower than market prices to have a positive impact on the company’s operations during the coming months
  • Reuters reported that Nike (NKE) said it will reduce the size of its global workforce by approximately 2%, or approximately 1,400, and that it will also its number of shoe styles by 25%
  • Reuters reported that a U.S. District Court in Oregon denied Adidas AG’s motion for a preliminary injunction seeking to prevent Skechers U.S.A. (SKX) from selling its Mega-Blade series of children’s shoes
  • Adamis Pharmaceuticals (ADMP) announced that the U.S. Food and Drug Administration approved the company’s treatment for allergic reactions
  • Dow Chemical (DOW) and DuPont (DD) announced that the U.S. Department of Justice will permit the companies to proceed with their proposed merger
  • Advanced Micro Devices (AMD) announced that it was selected by the U.S. Department of Energy’s Exascale Computing Project to accelerate critical computing technology research for the development of the United States’ first exascale supercomputers
  • Booz Allen (BAH) reported that it was informed that the U.S. Department of Justice is conducting a civil and criminal investigation relating to certain elements of the company’s cost accounting and indirect cost charging practices with the U.S. government

June 13, 2017 Company and Stock News

  • Scotts Miracle-Gro (SMG) reduces its full-year 2017 revenue and earnings estimates; expects to report adjusted earnings for the year ending December 31, 2017 in a range of $4.00-$4.20 per share compared to an earlier estimate of $4.10-$4.30 per share, and to report a revenue increase of 3%-4% compared to an earlier estimate of 6%-7%
  • Cheesecake Factory (CAKE) reported that it expects the company’s comparable-restaurant sales for the quarter ending June 30, 2017 to be approximately 1% lower than for the same period a year ago, as compared to an earlier estimated increase of 1%-2%
  • Shaw Communications (SJR) enters into agreement with Peak 10 Holding Corporation to sell 100% of its wholly-owned subsidiary ViaWest, Inc. for approximately C$2.3 billion ($1.675 billion)
  • United Parcel Service (UPS) says it’s planning to invest $260 million in a new package processing facility in Plainfield, Indiana, and to increase the size of the company’s full-time workforce by more than 575 persons over the next five years
  • Sears Holdings (SHLD) says it plans to eliminate approximately 400 full-time positions at the company’s corporate offices
  • Apple’s (AAPL) CEO, Tim Cook, told Bloomberg that the company is focusing on developing autonomous systems for self-driving automobiles
  • Eli Lilly (LLY) and Pfizer (PFE) announced that the U.S. Food and Drug Administration granted Fast Track designation for the companies’ tanezumab treatment for chronic pain in patients with osteoarthritis and lower-back pain

June 12, 2017 Company and Stock News

  • J.C. Penney (JCP) says it will begin offering Libby Edelman apparel and accessories in 500 of the company’s stores on July 14, followed by a full launch of the designer’s products on September 8
  • Golden Entertainment (GDEN) enters into definitive agreement to acquire American Casino & Entertainment Properties LLC, which owns three casinos in Las Vegas, including the Stratosphere Casino, Hotel & for $850 million
  • Mack-Cali Realty (CLI) increase the company’s quarterly dividend by 33% to $0.20 share
  • Imax Corporation (IMAX) says it plans to eliminate 100 full-time employment positions and to repurchase up to $200 million of the company’s common stock in addition to a previously-announced $200 million repurchase program
  • Synaptics (SYNA) and Marvel Technology (MRVL): Synaptics (SYNA) signs definitive agreements to acquire Conexant Systems, LLC for approximately $300 million in cash and the Multimedia Solutions Business of Marvell Technology Group Ltd. for approximately $95 million

June 9, 2017 Company and Stock News

  • American Airlines (AAL) reported that its revenue passenger miles rose to a record level during May, increasing by 2.6%, as compared to the same month a year ago
  • Pandora Media (P) and SiriusXM Holdings (SIRI) enter into agreement for SiriusXM to invest $480 million in Pandora
  • Encana Corporation (ECA) reaches agreement to sell the company’s Piceance natural gas assets for $735 million
  • Digital Realty (DLR) and Dupont Fabros (DFT) enter into definitive agreement for DuPont Fabros to merge with Digital Realty in an all-stock transaction valued at approximately $7.6 billion

June 8, 2017 Company and Stock News

  • Valeant Pharmaceuticals enters into agreement to sell the company’s iNova Pharmaceuticals business for $930 million
  • Nordstrom (JWN) says members of the Nordstrom family have formed a group to explore a potential “going private” acquisition of the company
  • Urban Outfitters (URBN) reported that its same-store sales for the three months ending July 31, 2017 are tracking lower than Wall Street analysts were estimating

June 7, 2017 Company and Stock News

  • U.S. Food and Drug Administration approves DexCom’s (DXCM) glucose monitoring application for Android devices
  • AbbVie (ABBV) says it experienced positive results from a late-state clinical trial of the company’s drug for rheumatoid arthritis
  • AMC Networks (AMC) increases the company’s common stock repurchase program by $500 million to $1 billion
  • United Continental (UAL) says its revenue passenger miles rose by 2.6% during May, as compared to the same month a year ago
  • Allergan (AGN) agrees to acquire Keller Medical, Inc., a privately-held medical device company and developer of the Keller Funnel, a cone-shaped, lubricated plastic funnel that reduces surgeon and patient contact during breast augmentation and reconstruction procedures

June 6, 2017 Company and Stock News

  • J.C. Penney (JCP) launches college dorm shops in 500 of the company’s stores, featuring a selection of bedding, bath and décor products designed to appeal to persons shopping for dorm room furniture and accessories
  • VentureBeat reported that Snap Inc. (SNAP) acquired Placed, a privately-held marketing research company
  • Daily News, Inc. reported that Macy’s (M) CEO said the company’s gross profit margin for its fiscal year ending January 31, 2018 is trending below the level at which the company had estimated previously
  • Bloomberg reported that Valeant Pharmaceuticals International (VRX) is considering a sale of its Bausch & Lomb unit’s surgical products business
  • Acorda Therapeutics (ACOR) says it experienced positive results from a late-stage trial of the company’s drug for Parkinson’s disease

June 5, 2017 Company and Stock News

  • Herbalife (HLF) says it expects the company’s revenues to decline by 2%-6% for the quarter ending June 30, 2017, as compared to the same period a year ago; that’s lower than the company’s previous estimate for a decline in the range of 0.5%-4.5%
  • Tempur Sealy (TPX) reported that orders for the company’s products rose by approximately 15% during May, as compared to the same month a year ago, excluding year-ago orders from Mattress Firm
  • Apple (APPL) announced that beginning during December of this year it plans to offer a wireless, voice-controlled speaker, named HomePod, to compete with Amazon’s Echo
  • Bluebird Bio (BLUE), Celsion Corp. (CLSN), Loxo Oncology (LOXO), Onconova Therapeutics (ONTX), Sierra Oncology (SRRA) and TG Therapeutics (TGTX) reported that they experienced positive results from clinical trials of their cancer drugs

June 2, 2017 Company and Stock News

  • Bristol-Myers Squibb Company (BMY) says it experienced positive results from a clinical trial of the company’s drug Opdivo in patients with cervical, vaginal and vulval cancer
  • Office Depot (ODP) reaches a deal to sell the company’s China operations to Shanghai M&G COLIPU Office Supplies Co. Ltd.
  • Merck & Co. (MRK) says it a late-stage clinical trial comparing its cancer drug Keytruda to Bristol-Myers Squibb’s (BMY) cancer drug Yervoy found patients on Keytruda had better results
  • Reuters reported that Icahn Automotive Group, a division of Icahn Enterprises L.P. (IEP), entered into a definitive agreement to acquire Precision Auto Care, an automotive service company with more than 250 corporate-owned and franchised Precision Tune Auto Care locations in 26 U.S. states

June 1, 2017 Company and Stock News

  • Conagra (CAG) and Pinnacle Foods (PF): Reuters reported Wednesday that Conagra Brands (CAG) approached Pinnacle Foods (PF) to express an interest in acquiring Pinnacle
  • Deere & Company (DE) signs definitive agreement to acquire the Wirtgen Group, a Germany-based privately-held manufacturer of road construction equipment, for 4.4 billion euros ($4.9 billion)
  • 3M Company (3M) enters into agreement to sell its electronic monitoring business to an affiliate of Apax Partners for $200 million

May 30, 2017 Company and Stock News

  • Buzzfeed News reported late Friday that Snap Inc. (SNAP) acquired Ctrl Me Robotics Inc., a developer for capturing movie-quality aerial video via drones
  • The Wall Street Journal reported this morning that Wells Fargo & Company (WFC) made additional changes to its retail-banking, reorganizing the company’s banks and changing the roles of its executives
  • Conagra Brands (CAG) and The J.M. Smucker Company (SJM) sign definitive agreement for Smucker to acquire Conagra’s Wesson oil brand for approximately $285
  • Gilead Sciences (GLD) says it experienced positive results from a Phase 3 trial of the company’s drug for the treatment of HIV
  • Vista Outdoor (VSTO): Moody’s Investors Service reported that it downgraded Vista Outdoor’s (VSTO) credit ratings further into junk status
  • Bloomberg reported that Deutsche Bank (DB) A.G. agreed to pay $41 million to settle Federal Reserve allegations that its U.S. operations failed to maintain adequate protections against money laundering
  • MarketWatch reported that an administrative judge ruled that Comcast Corporation (CMCSA) infringed upon two of TiVo Corporation’s (TIVO) patents relating to set-top television boxes

May 26, 2017 Company and Stock News

  • PPG Industries (PPG) signs definitive agreement to sell the company’s fiberglass operations to Nippon Electric Glass Co. Ltd. for $545 million
  • Newell Brands (NWL) signs definitive agreement to sell its Winter Sports businesses to Kohlberg & Company, L.L.C. for $240 million
  • Dolby Laboratories announces that the largest cinema chain operator in France, the Netherlands, and Switzerland, plans to provide its state-of-the-art laser projection and sound systems in seven of the company’s cinemas in France and three of its cinemas in the Netherlands

May 25, 2017 Company and Stock News

  • Tiffany & Co. (TIF) raises quarterly cash dividend by 11% to $0.50 per common share
  • Bloomberg reported that 705,000 individuals filed a class-action lawsuit against General Motors (GM) for reportedly installing devices in the company’s Duramax diesel trucks that enabled those vehicles to pass federal emissions tests even though fumes emitted by the trucks were supposedly up to five times greater than the legal limit

May 24, 2017 Company and Stock News

  • BuzzFeed News reported that the U.S. Federal Bureau of Investigation and Department of Defense are investigating Universal Health Services (UHS) regarding claims that the hospital operator kept patients in its psychiatric hospitals for as long as patents’ insurance would pay for their stays instead of whether or not the patients needed medical care
  • The Coca-Cola Company (KO) says it’s nearing a completion of refranchising its company-owned territories in the United States, and that it’s planning a new bottling company to operate in metropolitan New York, Philadelphia, New Jersey and Delaware
  • Campbell Soup (CPB) enters into strategic partnership with Chef’d, an e-commerce meal marketplace, in an effort grow Campbell’s e-commerce offerings
  • The Wall Street Journal reported that American Eagle Outfitters (AEO) is working with private equity firm Cerberus Capital Management to acquire Abercrombie & Fitch Co. (ANF)
  • Puma Biotechnology (PBYI) says an advisory committee for the U.S. Food and Drug Administration voted 12 to 4 in favor of recommending approval for the company’s treatment for breast cancer
  • Aerie Pharmaceuticals (AERI) says it experience positive results from a Phase 3 trial of the company’s Roclatan eye drops treatment for patients with glaucoma

May 23, 2017 Company and Stock News

  • Sears Holdings (SHLD) enters into agreements to extend a portion of the company’s $500 million 2016 Secured Loan Facility and to annuitize $515 million of its pension obligations
  • JetBlue Airways (JBLU) increases its projections for the company’s revenues per available seat miles for the quarter ending June 30, 2017 to an estimated year-over-year increase of 4%-6%, from an earlier estimate of 3%-6%
  • Amazon (AMZN) introduces a new service named Wedding Shop from Handmade at Amazon, whereby people planning weddings can select thousands of handcrafted products
  • MarketWatch reported that Wal-Mart (WMT) said it will open nine new stores and create 800 jobs in Florida
  • Apple (AAPL) and Nokia (NOK) settle all litigation related to their intellectual property dispute and agree to a multi-year patent license
  • The Wall Street Journal reported that Glencore plc approached Bunge Ltd. (BG) with a potential acquisition offer
  • Helios & Matheson (HMNY) reported that it acquired global licensing rights on May 18 to Is It You Ltd.’s facial recognition technology in the field of crime and terrorism
  • CNBC reported that Constellation Brands (STZ) expressed an interest in acquiring Constellation Brand, Inc’s (BF.B) Jack Daniel’s branded products
  • The U.S. Consumer Products Safety Commission reported that Pier 1 Imports (PIR) is recalling its Temani wicker furniture because paint used on the furniture might contain excessive levels of lead
  • The Container Store (TCS) implements a four-part optimization plan in an effort “to drive improved sales and profitability”

May 22, 2017 Company and Stock News

  • Ford Motor Company (F) appoints new President and CEO it appointed Jim Hackett, who was previously the chief executive of the company’s autonomous vehicles unit, as the company’s new President and CEO
  • National Oilwell (NOV) signs memorandum of understanding with Saudi Aramco to form a joint venture in Saudi Arabia to manufacture land rigs and drilling equipment
  • G-III Apparel Group (GIII) enters into multi-year license agreement with PVH Corp. (PVH), under which PVH will design and distribute menswear for G-III Apparel’s DKNY brand in the United States and Canada
  • Amgen (AMGN) says there will likely be a delay in bringing to market its osteoporosis drug, Evenity, due to indications that the drug might present cardiovascular risks
  • Puma Biotechnology reported that the U.S. Food and Drug Administration posted favorable briefing documents on its Internet web site regarding the company’s breast cancer drug
  • Celgene (CELG) says it experienced positive results from a Phase 3 trial of the company’s treatment for multiple sclerosis
  • Take Two Interactive (TTWO) delays release of Red Dead Redemption 2 video game until the spring of 2018

May 19, 2017 Company and Stock News

  • Reuters reported that Facebook (FB) received approval from Major League Baseball (“MLB”) to show 20 of the league’s games live during the MLB’s 2017 season
  • Ford (F) says it’s investing $350 million in the company’s Livonia Transmission Plant and that it will create or retain 800 hourly jobs to support production at the plant of a new transmission
  • The Wall Street Journal reported that Vistra Energy (VST) made an offer to Dynegy Inc. (DYN)

May 18, 2017 Company and Stock News

  • Amazon (AMZN) launches Amazon Charts, a weekly bestseller book list that shares which books are being read the most and which books have sold the most across all formats each week
  • Reuters reported that the U.S. Department of Justice plans to file a civil lawsuit against Fiat Chrysler (FCAU) regarding excess diesel emissions produced by the company’s automobiles if the company doesn’t resolve the issue
  • Reuters reported that the European Commission fined Facebook (FB) 110 million euros ($122 million) for giving misleading information during a vetting of the company’s deal during 2014 to acquire messaging service WhatsApp
  • Shire PLC (SHPG) says a Phase 2 study of the company’s treatment for ulcerative colitis, a chronic disorder of the gastrointestinal tract that affects the colon, showed “significantly increased remission rates in patients with moderate-to-severe ulcerative colitis”
  • J.C. Penney (JCP) says it will provide business-to-business services to the hospitality and multi-unit residential property-management industries
  • Current and former employees at Tesla, Inc.’s (TSLA) California factory told The Guardian that working conditions there are unsafe, working hours are abnormally long and wages are low. Separately, Tesla’s CEO, Elon Musk, indicated in an interview with The Guardian that he thinks financial market participants are overvaluing the company’s stock
  • Merck & Co. (MRK) says the U.S. Food and Drug Administration approved the company’s cancer drug, KEYTRUDA, for patients with bladder cancer
  • Synchrony Financial (SYF) reported that its Board of approved a share repurchase program of up to $1.64 billion of the company’s stock through June 30, 2018

May 17, 2017 Company and Stock News

  • The Wall Street Journal reported that Ford Motor Company (F) is planning to reduce its global workforce by 10% by the end of 2017 in an effort to become as “lean as efficient as possible.
  • CNBC reported that Facebook (FB) introduced a new Snap-like feature for its Instagram service, called “face filters”, that enables users to add graphics to photos and videos and to send them to other people through the company’s Instagram Direct messaging service
  • Nature’s Sunshine Products (NATR) receive a direct selling license from China’s Ministry of Commerce to sell the company’s nutritional and personal care products in Chin

May 16, 2017 Company and Stock News

  • Nature’s Sunshine Products (NATR) receive a direct selling license from China’s Ministry of Commerce to sell the company’s nutritional and personal care products in China
  • CNBC reported that Facebook (FB) introduced a new Snap-like feature for its Instagram service, called “face filters”, that enables users to add graphics to photos and videos and to send them to other people through the company’s Instagram Direct messaging service.

May 15, 2017 Company and Stock News

  • TechCrunch reported on Sunday evening that Apple (AAPL) acquired Lattice Data Inc., a Silicon Valley privately-held company that specializes in machine learning and artificial intelligence, for approximately $200 million
  • Moody’s (MCO) entered into a definitive agreement to acquire Bureau van Dijk, a global provider of business intelligence and company information, for €3.0 billion (approximately $3.27 billion)
  • The boards of directors of Thermo Fisher (TMO) and Patheon (PTHN) approved Thermo Fisher’s acquisition of all of Patheon outstanding common stock for $35 per share, in cash, representing a total purchase price of approximately $7.2 billion
  • Owens Corning (OC) signs agreement to acquire Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets, for approximately $560 million in cash
  • Symantec (SYMC) says its Norton Core Wi-Fi router, which was built to deliver fast and secure internet throughout one’s home and to protect home networks and their connected personal devices from malware, viruses and hackers, is now available for pre-order purchase at Amazon.com and Best Buy for a limited-time price of $249.99
  • Minerva Neurosciences (NERV) says it plans to begin Phase 3 and Phase 4 clinical development of the company’s treatment for schizophrenia
  • MarketWatch reported that a U.S. judge found “striking evidence suggesting” that technology from Alphabet’s Waymo LLC unit is being used without Alphabet’s (GOOG) permission in Uber’s self-driving car designs
  • Sears Holdings’ (SHLD) CEO, Eddie Lambert, says the company will take appropriate legal action to ensure that One World, a major supplier of Sears’ tools, honors its supply contract with Sears

May 12, 2017 Company and Stock News

  • Apple (AAPL) reported today that it completed the issuance and sale of $7 billion of debt; the company has been using debt since the quarter ended June 30, 2013 to repurchase its outstanding common stock while holding most of its $256 billion in cash overseas to avoid repatriation taxes
  • Eli Lilly and Company (LLY) says it experienced positive results from a Phase 3 study of the company’s treatment for chronic migraine headaches
  • Bloomberg reported that Sprint Corporation (S) began preliminary conversations to merge with T-Mobile (TMUS)
  • The Progressive Corporation (PRG) says it plans to repurchase up to 25 million of the company’s common stock

May 11, 2017 Company and Stock News

  • Merck & Co. (MRK) says the U.S. Food and Drug Administration approved the company’s KEYTRUDA drug in combination with carboplatin, a commonly-used chemotherapy regimen, for the treatment of lung cancer
  • Delta Air Lines (DAL) says it will increase the company’s quarterly cash dividend by 50% to $1.22 per common share and buy back an additional $5 billion of the company’s stock
  • Evercore analyst Umer Raffat said a U.S. District Court issued a favorable ruling for Valeant Pharmaceuticals (VRX) on two key issues regarding the company’s patent litigation

May 10, 2017 Company and Stock News

  • Reuters reported late yesterday evening that Abercrombie & Fitch (ANF) is working with investment banking firm Perella Weinberg Partners to consider potential acquisition interests from other retailers
  • The Priceline Group’s (PCLN) CEO said in the company’s Q1 2017 earnings conference call, “we would like to spend a lot more money with Facebook [FB]” in an effort to increase Priceline’s customer base
  • Bloomberg reported that The Boeing Company (BA) is temporarily suspending flights of its new 737 Max jetliner because of a potential manufacturing flaw in the aircraft’s engines
  • Whole Foods (WFM) increases quarterly cash dividend by 29% authorizes $12.5 billion stock repurchase plan

May 9, 2017 Company and Stock News

  • Yum! Brands’ (YUM) Taco Bell to create 3,500 jobs by the end of May and 50,000 new jobs by the end of this summer
  • Macy’s (M) launches exclusive women’s clothing collection marketed as CR by Cynthia Rowley
  • Snapchat (SNAP) reorganizes the layout of its creative tools, adding a Magic Eraser and new camera-timer features

May 8, 2017 Company and Stock News

  • Coach (COH) and Kate Spade (KATE) sign definitive agreement for Coach to acquire Kate Spade for $18.50 per share in cash for a total transaction value of $2.4 billion
  • Straight Path Communications (STRP) says a revised offer from an unnamed multi-national telecommunications company to acquire the company for $184.00 per share constitutes a “Superior Proposal” to the company’s previously announced definitive agreement and plan of merger with AT&T Inc. (T)
  • The Brink’s Company (BCO) increases its quarterly divided by 50% to $0.15 per share and announces a new $200 million stock repurchase plan
  • Comcast (CMCSA) and Charter Communications (CHTR) enter into agreement to explore potential opportunities for operational cooperation in their respective wireless businesses
  • Sinclair Broadcast (SBGI) and Tribune Media (TRCO) enter into definitive agreement under which Sinclair will acquire 100% of the issued and outstanding shares of Tribune for $43.50 per share
  • Pandora Media (P) enters into agreement with KKR & Co. L.P., whereby KKR will invest $150 million into Pandora

May 3, 2017 Company and Stock News

  • Pieris Pharmaceuticals (PIRS) and AstraZeneca (AZN) enter into strategic relationship to develop Pieris’ drugs for respiratory diseases
  • Moody’s Investors Services downgrades its credit rating on International Business Machines Corporation’s (IBM) senior unsecured debt to A1, from Aa3
  • The U.S. Department of Justice  issues notification that it might fine Exxon Mobile (XOM) for the company’s alleged violations of the Clear Air Act and the Environmental Protection Agency’s Chemical Accident Prevention provisions
  • American International Group (AIG) declares $0.32 quarterly dividend and says it plans to repurchase $2.5 billion of the company’s common stock

May 2, 2017 Company and Stock News

  • Microsoft (MSFT) unveils two new laptop computers based on the company’s 10 S operating system that the company expects to compete favorably with Apple’s $999 MacBook Air and Alphabet Inc.’s $149 Chromebook
  • Moody’s Investors Service reported that it downgraded its credit ratings for The Sherwin-Williams Company (SHW) by three notches to Baa3 from A3 to reflect the company’s debt-financed acquisition of Valspar Corp. for more than $11 billion
  • RTT News reported that Twitter (TWTR) disclosed in a regulatory filing that it’s facing class-action lawsuits in California alleging securities violations

May 1, 2017 Company and Stock News

  • McDonald’s (MCD) unveils its long-term global growth plan during the company’s Investor Day event in downtown Chicago, saying it plans to focus on enhancing the company’s digital capabilities and use of technology; redefining customer convenience through mobile order and delivery of its food and beverage products; accelerating deployment of the company’s Experience of the Future restaurants; refranchising 4,000 of its restaurants by the end of 2017; and returning $30 billion to the company’s shareholders, via stock repurchases and dividends, within the next three years
  • Monsanto (MON) says it terminated the company’s agreement with Deere & Company (DE) to acquire Deere’s crop-planting equipment business
  • Angie’s List (ANGI) and IAC/Interactive (IAC) enter into definitive agreement to combine IAC’s HomeAdvisor and Angie’s List into a new publicly-traded company, to be called ANGI Homeservices Inc
  • Cisco Systems (CSCO) says it will acquire Viptela Inc., a privately-held developer of wide-area-network (“WAN”) software, for $610 million in cash and assumed stock awards

April 28, 2017 Company and Stock News

  • Royal Caribbean Cruises (RCL) increases its full-year adjusted earnings per share expectations to a range of $7.00-$7.20, from $6.90-$7.10; in comparison, Wall Street analysts were estimating, on average, for the company to report full-year adjusted earnings per share of $7.06
  • Royal Caribbean Cruises (RCL) says the company plans to repurchase $500 million of its common stock
  • Bristol-Myers Squibb (BMY) receives approval from the China Food and Drug Administration for the company’s oral treatment for chronic hepatitis C virus, making the treatment China’s first all-oral regimen for the disease
  • Time Inc. (TIME) says its board of directors has decided not to sell the company and that Time will instead continue to execute its strategic plan, which includes growing the company’s digital content, licensing its content, and reengineering its cost structure

April 27, 2017 Company and Stock News

  • Anadarko Petroleum (APC) says it will close more than 3,000 of the company’s vertical wells in northeast Colorado as a result of last week’s fatal explosion in Firestone, Colorado
  • MarketWatch reported that Molina Healthcare (MOH) said in a letter written to U.S. Congress persons that if cost-sharing payments that are part of the Affordable Care Act are not funded it has “no choice” but to pull out of the Act’s healthcare exchanges immediately
  • Bloomberg reported that Daniel Loeb’s Third Point LLC took an investment position in Honeywell International (HON) and that Loeb suggested that the company should spin off its aerospace business

April 26, 2017 Company and Stock News

  • Starbucks (SBUX) says it will open a Starbucks Reserve Roastery on Chicago’s Magnificent Mile during 2019
  • Consumer Reports lowers its safety ratings on Tesla’s (TSLA) automobiles by two points because the automaker has not enabled its new models with the automatic emergency braking safety feature it said would come as standard
  • Amazon.com (AMZN) launches the Echo Look, a hands-free, voice-activated camera that will enable users track their wardrobe
  • PayPal (PYPL) authorizes a new stock repurchase program, under which the company may repurchase up to $5 billion in its outstanding common stock
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