Company & Stock News

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November 16, 2017 Company and Stock News

  • Moody’s Investors Service downgrades General Electric’s (GE) long-term credit rating to A2, from A1, as a result of a “severe deterioration in the financial performance of GE’s Power segment”
  • Rockwell Automation (ROK) makes proposal to Emerson Electric (EMR) to acquire all of the company’s outstanding stock for $225 per share in a deal valued at approximately $29 billion
  • The Allstate Corporation (ALL) says it incurred $516 million of catastrophe losses ($335 million after income taxes) during October due primarily to wildfires in California
  • Hess Corporation (HES) says it plans to reduce its debt by $500 million and to repurchase $500 million of its stock by the end of 2018
  • Caesars Entertainment (CZR) enters into definitive agreement to acquire Centaur Holdings, LLC, a privately-owned global investment holding company, for $1.7 billion in cash
  • Reuters reported that Comcast Corporation (CMCSA) and Verizon Communications (VZ) expressed an interest in acquiring a significant portion of Twenty-First Century Fox’s (FOX) assets
  • PayPal (PYPL) and Synchrony Financial (SYF) enter into agreement to expand their strategic consumer credit relationship; Synchrony Financial will acquire $6.8 billion of PayPal’s accounts receivables and approximately $1 billion in participation interests in the company’s receivables held by certain investors and a chartered financial institution

November 15, 2017 Company and Stock News

  • CreditSights reported that Apple (AAPL) issued 2-year, 3-year, 5-year, 7-year, 10-year and 30-year fixed-rate notes
  • Bonanza Creek Energy (BCEI) and SandRidge Energy (SD) enter into definitive merger agreement under which SandRidge will acquire all of the outstanding common stock of Bonanza Creek for $19.20 per share in cash and $16.80 per share of SandRidge’s stock for each Bonanza Creek share
  • Acorda Therapeutics (ACOR) halts new enrollments in studies of the company’s drug for Parkinson’s disease after five patients using the drug died

November 14, 2017 Company and Stock News

  • Dick’s Sporting Goods (DKS) reduces full-year 2017 adjusted earnings per share estimate to a range of $2.92-$3.04, from a previous range estimate of $2.80-$3.00; in comparison, Wall Street analysts were expecting, on average, the company to report full-year 2017 adjusted earnings per share of $2.87
  • The U.S. Department of Justice reported that Wells Fargo (WFC) will pay an additional $5.4 million to the Department to compensate approximately 450 members of the U.S. Armed Services whose automobiles were unlawfully repossessed by the bank
  • CVS Health (CVS) says it plans to hire 5,000 new apprentices within the next five years
  • Reuters reported that the International Trade Commission launched an investigation into allegations of patent infringement by Apple (AAPL) on various devices
  • Valvoline (VVV) increases its quarterly cash dividend by more than 50%
  • Lam Research (LRCX) announced that its board of directors approved an 11% increase in the company’s quarterly cash dividend and the repurchase of $2 billion of the company’s stock
  • Loxo Oncology (LOXO) enters into global collaboration with Bayer AG to develop and commercialize the company’s cancer treatments

November 13, 2017 Company and Stock News

  • General Electric (GE) says it will reduce its quarterly cash dividend by 50% to $0.12, and that it will implement several restructuring plans, including reductions to its workforce and substantial asset sales
  • The Wall Street Journal reported that Roark Capital Group made an offer to acquire Buffalo Wild Wings (BWLD) for approximately $2.3 billion
  • Allergan (AGN) announced that the U.S. Food and Drug Administration approved the company’s VRAYLAR™ drug for the treatment schizophrenia
  • Valeant Pharmaceuticals (VRX) says it will offer 750 million of 5.5% senior secured notes due 2025 to repay a portion of the company’s outstanding term loans
  • QUALCOMM (QCOM) rejects unsolicited acquisition proposal made by Broadcom (AVGO) on November 6, 2017
  • Amazon (AMZN) announced that it acquired the global television rights to The Lord of the Rings; separately, the company announced that it opened the first of its device pop-up shops in Whole Foods Markets
  • Wal-Mart (WMT) says it will launch Lord & Taylor shops in its stores during the spring of 2018, and will soon offer Lord & Taylor apparel on its Internet web site
  • Brookfield Property Partners (BPY) makes unsolicited proposal to acquire GGP Inc. (GGP) at a price of $23 per share

    Nektar Therapeutics (NKTR) says it experienced positive results from a study of the company’s cancer treatment

November 10, 2017 Company and Stock News

  • Hasbro (HAS) and Mattel (MAT): The Wall Street Journal reported that Hasbro (HAS) made an offer to acquire Mattel (MAT)
  • Reuters reported that PayPal Holdings (PYPL) suspended its TIO Networks business due to cyber security concerns
  • Dynavax Technologies (DVAX) announced that the U.S. Food and Drug Administration approved the company’s HEPLISAV-B hepatitis vaccine

November 9, 2017 Company and Stock News

  • Techcrunch.com reported that Apple (AAPL) acquired InVisage Technologies, a developer of imaging software applications for small electronic devices
  • Electronic Arts (EA) enters into agreement to acquire Respawn Entertainment, LLC, a privately-held developer of electronic games, for $151 million in cash and up to $304 million in restricted stock and performance-based milestone payments
  • Kroger (KR) announced that it is hiring approximately 14,000 part-time and seasonal employees for the 2017 winter holiday shopping season
  • The Travelers Companies (TRV) says it expects to report catastrophe losses in a range of $525-$675 million for the quarter ending December 31, 2017
  • Sage Therapeutics (SAGE) says it experienced positive results from a Phase 3 clinical trial of the company’s brexanolone treatment for postpartum depression

November 8, 2017 Company and Stock News

  • Amazon (AMZN) says it plans to open its fourth Maryland fulfillment facility in Baltimore’s Sparrows Point, and to hire more than 1,500 full-time employees to work at the facility
  • Digital Ally (DGLY) says it’s in the process of exploring strategic alternatives to better position the company for the future, including, but not limited to, monetizing its patent portfolio selling the company
  • Sears Holdings (SHLD) enters into agreement to release approximately 140 of its properties from ring-fence arrangements in exchange for $407 million of contributions to the company’s pension plans; additionally, the company says it expects its net loss for the three months ended October 31, 2017 to narrow by approximately $100 million, as compared to the same period a year ago
  • Reuters reported that Capital One Financial Corporation (COF) will stop issuing mortgage and home equity loans and reduce its workforce by approximately 1,100 people
  • Reuters reported that the U.S. Department of Justice told Time Warner (TWX) that it must sell its Turner Broadcasting or DirecTV unit as a condition for the Department to approve AT&T’s (T) acquisition of the company

    Zynga (ZNGA) enters into agreement to acquire the mobile card game studio of Peak Games for $100 million

November 7, 2017 Company and Stock News

  • CreditSights reported that Oracle (ORCL) is planning to issue approximately $10 billion of notes
  • Reuters reported Alphabet, Inc’s Waymo unit has been testing self-driving cars on public roads in Arizona
  • Fitch Ratings reduces its credit ratings on Teva Pharmaceutical (TEVA) to BB, from BBB

November 6, 2017 Company and Stock News

  • Broadcom (AVGO) makes proposal to Qualcomm (QCOM) to acquire all of Qualcomm’s outstanding stock for $60.00 per share in cash and $10.00 per share in Broadcom’s stock
  • MarketWatch reported that Apple (AAPL) is planning to issue 2-year, 3-year, five-year, seven-year, 10-year and 30-year notes
  • Dow Jones Newswire reported that CBS Corporation agreed to transfer $800 million in the company’s pension liabilities to an insurance company by purchasing a group annuity contract from the insurer
  • CNBC reported that Twenty-First Century Fox (FOXA) has been holding discussions with The Walt Disney Company (DIS) to sell most of the company to Disney
  • Valeant Pharmaceuticals (VRX) enters into agreement to divest the company’s Sprout Pharmaceuticals subsidiary, which makes the “female Viagra” drug ADDY®, to a buyer affiliated with former shareholders of Sprout in exchange for a 6% royalty on future global sales of ADDY®
  • Altice USA (ATUS) and Sprint (S) enter into multi-year agreement under which Altice will utilize Sprint’s network to provide mobile voice and data services to its customers throughout the United States, and Sprint will leverage the Altice broadband platform to accelerate the usage of its network; Sprint says it ceased discussions to merge with T-Mobile US (TMUS)
  • Advanced Micro Devices (AMD) and Intel (INTC) enter into strategic relationship to integrate Intel’s processor, AMD’s Radeon™ graphics chip, and second-generation High Bandwidth Memory (HBM2) into a single package
  • Helios & Matheson (HMNY) enters into securities purchase agreement with institutional investors for the company to issue $100 million in convertible notes to provide additional funding for MoviePass and to increase its ownership interest in MoviePass
  • salesforce.com (CRM) selects Alphabet’s (GOOG) Google Cloud as a preferred provider to support the company’s rapidly-growing global customer base
  • Symantec (SYMC) acquires SurfEasy, Inc., a provider of online privacy and security services for smartphones, tablets and computers
  • Avis Budget (CAR) announced that it reduced its full-year 2017 revenue estimate to a range of $8.80-$8.90 billion from an earlier estimate of $8.80-$8.95 billion
  • Reuters reported that McKesson Corporation (MCK) is planning to acquire CVS Health Corporation’s RxCrossroads unit in a deal valued at $735 million

November 3, 2017 Company and Stock News

  • Bloomberg News reported that Broadcom (AVGO) is considering a bid for Qualcomm (QCOM)
  • Valeant Pharmaceuticals (VRX) announced that the U.S. Food and Drug Administration approved the company’s VYZULTA™ drug for glaucoma
  • Pandora (P) says it lost 2.3 million active listeners for the three months ended September 30, 2017.
  • The Wall Street Journal reported that Marvell Technology (MRVL) is in discussions to acquire Cavium, Inc. (CAVM)
  • Aetna (AET) and CVS Health (CVS): Reuters reported that Aetna (AET) and CVS Health Corp. (CVS) are working toward finalizing a merger

November 2, 2017 Company and Stock News

  • DowDuPont (DWDP) initiates actions to generate cost savings of $3 billion, including procurement synergies, global workforce reductions, buildings and facilities consolidations and select asset shutdowns; the company also declared a fourth quarter dividend of 38 cents per share and approved a $4 billion share repurchase program
  • The Wall Street Journal reported that the U.S. Department of Justice is considering filing an antitrust lawsuit against AT&T Inc.’s (T) proposed $85 billion acquisition of Time Warner Inc. (TWX)
  • Goldman Sachs’ equity research analyst David Tamberrino reduced his price target on Tesla, Inc.’s (TSLA) stock to $205, from $210, and maintained his “sell” rating on the stock; analysts at Evercore and UBS also recently reduced their price targets and/or earnings estimates on the company

    Mallinckrodt plc (MNK) and Ocera Therapeutics (OCRX) enter into agreement under which Mallinckrodt will acquire Ocera Therapeutics common stock for $1.52 per share (or approximately $42 million)

November 1, 2017 Company and Stock News

  • Pitney Bowes (PBI) says it’s conducting a process to explore and evaluate strategic alternatives to further enhance shareholder value
  • MetLife (MET) announced that its board of directors approved a new $2 billion authorization for the company to repurchase its common stock, and that it intends to divest its remaining common stock holdings in Brighthouse Financial, Inc. (BHF)

October 31, 2017 Company and Stock News

  • Hormel Foods (HRL) enters into definitive agreement to acquire Columbus Manufacturing, Inc., a premium deli meat and salami company, for approximately $850 million
  • International Business Machines (IBM) reported that its board of directors approved the company to repurchase an additional $3 billion of its outstanding stock, bringing the total repurchase authorization to $4.5 billion
  • Bloomberg News reported that Cisco Systems (CSCO) is seeking to sell its NDS Group Ltd. video-software unit

    Valeant Pharmaceuticals (VRX) announced that it’s on track to pay down more than $5 billion in debt ahead of its February 2018 goal

October 31, 2017 Company and Stock News

  • CalAtlantic Group (CAA) and Lennar Corporation (LEN) announced that their boards of directors approved a definitive agreement whereby the companies will merge to create the United States’ largest homebuilder
  • Merck & Co. (MRK) withdraws its European application for KEYTRUDA® as a treatment for lung cancer, and says it’s no longer pursing approval of that drug in Europe
  • J.C. Penney (JCP) announced that beginning during November the company will offer LEGO building bricks and playsets in 875 toy shops inside the company’s brick and mortar stores
  • Techcrunch reported that Alphabet Inc.’s (GOOG) YouTube unit is launching an application for smart TVs, streaming devices and gaming consoles in the top 50 U.S. metropolitan areas
  • MarketWatch reported that Softbank, which owns approximately 83% of Sprint Corporation’s (S) outstanding common stock, is planning to end merger discussions between Sprint and T-Mobile US, Inc. (TMUS)
  • Iconix Brand Group (ICON) announced that Wal-Mart informed the company that it will not renew its DanskinNow brand licensing agreement with Iconix beyond January 2019
  • Rent-A-Center (RCII) initiates a process to explore strategic and financial alternatives in an effort to improve the company’s operating results; company suspends its quarterly dividend
  • Dynegy Inc. (DYN) and Vistra Energy Corp. (VST) enter into definitive merger agreement valued at approximately $10 billion
  • Capella Education (CPLA) and Strayer Education (STRA) agree to combine in an all-stock merger of equals transaction

October 27, 2017 Company and Stock News

  • Tenet Healthcare (THC) says it plans to reduce its workforce by 1,300 employees by the end of 2017 in an effort to reduce its operating expense
  • Reuters reported that Akzo Nobel N.V. approached Axalta Coating Systems Ltd. (AXTA) to discuss a possible merger
  • Amazon.com’s (AMZN) Whole Foods Market unit announced that it plans that it plans to hire 6,000 people on November 2

October 26, 2017 Company and Stock News

  • The Wall Street Journal reported that General Electric (GE) is considering spinning off or selling its locomotive and railroad equipment business
  • Reuters reported that Pfizer (PFE) plans to begin an auction process during November to sell its consumer healthcare business
  • Mylan N.V. (MYL) announced that the United Kingdom’s High Court of Justice issued a decision in favor of Mylan regarding its patent dispute with Teva Pharmaceuticals (TEVA)
  • Stein Mart (SMRT) says will reduce the size of its corporate office workforce by approximately 10%, lower its inventories by approximately 15% and reduce its capital expenditures by $22 million during 2018
  • The St. Louis Post-Dispatch reported that Amazon.com (AMZN) gained approval from pharmaceutical boards of several U.S. states to become a wholesale distributor of pharmaceutical products
  • PDL BioPharma, Inc. (PDLI) announced that it submitted a proposal to acquire Neos Therapeutics, Inc. (NEOS) for $10.25 per share in cash

October 25, 2017 Company and Stock News

  • Lumber Liquidators (LL) reaches agreement with a group of plaintiffs to settle all litigation related to Chinese-made laminate flooring sold by the company from January 1, 2009 to May 31, 2015
  • Sears Holdings (SHLD) announced the return of the company’s iconic winter holiday season Wish Book in both online and print versions
  • Reuters reported that Apple (AAPL) acquired New Zealand-based PowerbyProxi, which designs wireless power products
  • Amazon (AMZN) announced that beginning November 8 it will offer a new home-delivery service for the company’s Prime members; additionally, the company introduced Amazon Cloud Cam, an intelligent indoor security camera that lets customers monitor their home for an annual subscription fee of $69
  • The Medicines Company (MDCO) says it expects to divest its infectious diseases business by the end of 2017 and to implement a restructuring of the remainder of the company’s operations within the next 45 days
  • ServiceNow (NOW) says it expects to generate approximately $1.73 billion in subscription revenues for the full year ending December 31, 2017; in comparison, Wall Street analysts were expecting the company to generate $2.3 billion for the full year of 2017
  • Nutrisystem (NTRI) says it plans repurchase up to an additional $50 million of its stock once the company’s existing repurchase program expires during November

October 24, 2017 Company and Stock News

  • Amazon (AMZN) launches Business Prime Shipping, a service that offers unlimited and free two-day shipping on eligible items to persons who have an Amazon Business account; separately, the company announced that will open a new fulfillment center in Phoenix, Arizona and hire approximately 1,000 people to work at the facility
  • Graphic Packaging Holding Company (GPK) and International Paper Company (IP) sign definitive agreement to form a new partnership comprised of Graphic Packaging’s existing businesses and International Paper’s North America Consumer Packaging business
  • Gilead Sciences (GILD) says it experienced positive results from a Phase 2 study of the company’s treatment for nonalcoholic steatohepatitis, a common disease that harms the liver

October 23, 2017 Company and Stock News

  • Cisco Systems (CSCO) enters into definitive agreement to acquire BroadSoft, Inc., a privately-held provider of cloud-based contact applications, for approximately $1.9 billion
  • Deltic Timber (DEL) and Potlach Corporation (PCH) enter into definitive agreement to combine in an all-stock transaction
  • AT&T (T) and Time Warner (TWX) agree to extend the October 22, 2017 termination date of their merger agreement
  • Exactech (EXAC) enters into definitive merger agreement to be acquired by TPG Capital for $625 million
  • XPO Logistics (XPO) says it expects to hire more than 6,000 seasonal workers for its U.S. contract logistics operations
  • CarMax (KMX) says it plans to hire more than 2,000 full-time employees by the end of 2017
  • Impax Labs (IPXL) announced that it received approval from the U.S. Food and Drug Administration for the company’s generic version of Sanofi SA’s Renvela®

October 20, 2017 Company and Stock News

  • First Data Corporation (FDC) enters into definitive agreement to acquire BluePay Holdings, Inc., a privately-held payment processing company, for $760 million

October 19, 2017 Company and Stock News

  • J.C. Penney (JCP) announced that on October 30 the company will launch a selection of smartwatches in 245 stores and on JCPenney.com; the company also rebranded its fine jewelry department and unveiled a concept that offers bridal customers designer styles at value prices
  • Winnebago (WGO) announced that its Board of Directors authorized the company to repurchase $70 million of its outstanding stock
  • Amazon (AMZN) announced that it and Lincoln Clean Energy began operating a 253-megawatt wind farm in northwesterm Texas
  • Under Armour (UAA) launches its first subscription box service, ArmourBox, that will ship product recommendations chosen by a stylist to customers every 30, 60 or 90 days
  • Consumer Reports announced that it expects Tesla, Inc.’s (TSLA) Model 3 sedan to have average reliability
  • Celgene (CELG) says it will discontinue its Phase 3 trial for the company’s drug for Crohn’s disease
  • Corbus Pharmaceutical (CRBP) says it experienced positive results from a Phase 2 trial of the company’s anabasum drug for dermatomyositis

October 18, 2017 Company and Stock News

  • Apple (AAPL) and General Electric (GE) enter into strategic partnership to provide GE’s industrial Internet of Things (“IoT”) platform via Apple’s iPhone and iPad
  • SUPERVALU (SVU) enters into definitive agreement to acquire Associated Grocers of Florida for approximately $180 million.
  • Assurant, Inc. (AIZ) and The Warranty Group, a global provider of warranty protection plans, enter into definitive agreement to combine operations
  • Alnylam Pharmaceuticals (ALNY) enters into exclusive licensing agreement with privately-held Vir Biotechnology for the development and commercialization of RNAi therapeutics for infectious diseases, including chronic hepatitis B virus (“HBV”) infection

October 17, 2017 Company and Stock News

  • Synchronoss Technologies (SNCR) signs definitive agreement to sell its Intralinks Holdings subsidiary to Siris Capital Group, LLC for approximately $1 billion
  • Impax Laboratories (IPXL) enters into definitive agreement to merge with privately-held Amneal Pharmaceuticals LLC

October 16, 2017 Company and Stock News

  • Nordstrom (JWN) announced that members of the Nordstrom notified the company’s Special Committee of the Board of Directors that they suspended active exploration, for the remainder of this year, of the possibility of proposing a transaction to take the company private
  • Allergan (AGN) announced that the U.S. District Court for the Eastern District of Texas issued an adverse trial decision against the company, ruling that Allergan’s patents for its eye inflammation drug, RESTASSIS®, are invalid
  • TransEnterix (TRXC) announced that it received clearance from the U.S. Food and Drug Administration to market its Senhance™ Surgical Robotic System, a minimally-invasive surgical device
  • Exelixis (EXEL) says it experienced positive results from a Phase 3 trail of the company’s drug for liver cancer, and that the U.S. Food and Drug Administration determined that the company can proceed to a substantive review of its treatment for kidney cancer

October 13, 2017 Company and Stock News

  • Alcoa (AA) announced that it reached an agreement to terminate an electricity contract tied to the company’s operations in Texas that will increase its annual net income by approximately $60-$70 million
  • Spark Therapeutic (ONCE) announced that the U.S. Food and Drug Administration recommended approval of the company’s treatment blindness

October 12, 2017 Company and Stock News

  • Amazon (AMZN) announced that it is creating approximately 120,000 employment positions for the 2017 winter holiday season
  • Target (TGT) says customers can now shop for Target’s offerings via Google Express, a home delivery shopping service, and use the Google Assistant on voice-activated Google Home devices and Android TV
  • Reuters reported that Time Inc. (TIME ) launched a proprietary video advertising unit, named Adapt Video, that will help advertisers find new ways to engage audiences with video
  • Nu Skin Enterprises (NUS) increased its revenue and earnings estimates for the quarter ending September 30, 2017 to a revenue range of $559-$563 million and an earnings per share range of $0.74-$0.76, from a previous revenue and earnings per share range of $540-$560 million and $.071-$.076, respectively
  • Applied Optoelectronics (AAOI) reduced its revenue and earnings estimates for the quarter ended September 30, 2017 to a revenue range of $88-$89 million, from an earlier estimate of $107-$115 million, and a net income range of $18.6-$19.6 million, from a previous estimate of $26.6-$29.4 million
  • Antares Pharma (ATRS) announced that the U.S. Food and Drug Administration found deficiencies in the company’s testosterone drug, Xyosted

October 11, 2017 Company and Stock News

  • Amazon (AMZN) launches launching a new monthly payment option for college students, Prime Student, at a price of $5.49 a month, and introduces a convenient way for teens 13-17 years of age to shop on Amazon with their own login while still keeping their parents informed; the company also introduced its most advanced Kindle e-reader ever, the new Kindle Oasis, for a price of $249.99
  • The Kroger Co. (KR) said it’s considering selling its convenience store business, and that it’s redesigning its sales counters to maximize self-checkout
  • 1-800 Flowers (FLWS) announced that its Harry & David’s division will operate approximately 20 pop-up food-gift stores nationwide this winter holiday season
  • Snap (SNAP) introduces Context Cards!, which displays information about images; the application also enables users to call for a ride with Uber or Lyft, and to make a restaurant reservations
  • AT&T (T) reduced its revenue and pre-tax earnings estimates for the quarter ended September 30, 2017 by $90 million and $210 million (or $.02 per diluted share)
  • J.Jill (JILL) reduced its adjusted earnings estimate for the three months ending October 31, 2017 to a range of $.08-$.10, from a prior estimate of $.18-$.20, on a 3%-5% decline in the company’s same-store sales
  • Sigma Designs (SIGM) says it will reduce the size of its workforce by 200-250 people, consolidate certain of the company’s facilities, and record one-time charges for severance and lease termination of approximately $8 million to $10 million over its fiscal third and fourth quarters ending October 31, 2017 and January 31, 2018
  • Ardelyx (ARDX) says it experienced positive results from a Phase 3 study of the company’s drug for irritable bowel syndrome with constipation

October 10, 2017 Company and Stock News

  • Nvidia Corporation’s (NVDA) founder and CEO, Jensen Huang, introduced a new artificial intelligence (“AI”) hardware device and virtual reality (“VR”) software application for designing autonomous vehicles; additionally, Huang announced that a test fleet of autonomous trucks will use the company’s self-driving system
  • Wal-Mart (WMT) initiates a new $20 billion share repurchase program
  • The Gap (GPS) launches a subscription service for its BabyGap clothing
  • CNBC reported that Amazon.com (AMZN) is in talks with Phrame, a smart-license-plate maker, to allow customers orders to be delivered to their cars
  • Honeywell (HON) says it intends to spin off its Homes product portfolio and ADI global distribution business, as well as its Transportation Systems business, into two stand-alone, publicly-traded companies; separately, the company stated that it expects to report earnings per share of $1.75 on revenues of $10.1 billion for the quarter ended September 30, 2017 and earnings per share in a range of $7.05-$7.10 for the full year ending December 31, 2017
  • Pfizer (PFE) says it’s considering selling or spinning off the company’s Consumer Healthcare business
  • MarketWatch reported that CNA Finance wrote in a press release that investors are clamoring to get a stake in Helios & Matheson’s (HMNY) “MoviePass” service
  • United Continental (UAL) announced that its revenue passenger miles decreased 1.6% during September, as compared to the same month a year ago
  • American Airlines (AAL) announced that it increased its third-quarter growth outlook for total revenue per available seat miles (“TRASM”) to a range of 0.5%-1.5%, from a previous estimate of flat to up 1.0%
  • KalVista Pharmaceuticals (KALV) enters into a collaboration agreement with Merck for its investigational intravitreal injection that’s currently in development for the potential treatment of diabetic macular edema (“DME”); additionally, the company entered into a $9.1 million private placement transaction with Merck under which Merck acquired 1,070,589 shares of KalVista for $8.50 per share
  • Express Scripts (ESRX) says it reached an agreement to acquire privately-held eviCore healthcare for $3.6 billion
  • Eli Lilly (LLY) says it experienced disappointing results from a Phase 3 trial of the company’s Verzenio treatment for lung cancer

October 9, 2017 Company and Stock News

  • Wal-Mart (WMT) introduces a new express returns service that enables the company’s customers to receive refunds for purchased items that they want to return by entering information regarding those items into an electronic mobile device
  • Axalta Coating Systems (AXTA) reduced its full-year 2017 adjusted EBITDA to a range of $870-$900 million from an earlier estimate of $940-$970 million
  • AES Corp. (AES): The AES Corporation (AES) reduced its full-year 2017 adjusted earnings per share estimate to the lower half of a $1.00-$1.10 range from a previous estimate of $1.03-$1.15

October 6, 2017 Company and Stock News

  • 9to5Mac.com reported that a Taiwanese owner of Apple’s (APPLE) new iPhone 8 Plus claimed the device split open while being charged
  • United Natural Foods (UNFI) announced that that its Board of Directors authorized the company to repurchase $200 million shares of its stock
  • Tesla Inc.’s (TSLA) CEO, Elon Musk, tweeted that the company is delaying an unveiling of its semi-trailer truck until November 16
  • Paratek Pharmaceuticals (PRTK) says it experienced positive results from a Phase 3 trial of the company’s once-daily oral treatment for skin infections
  • Flexion Therapeutics (FLXN) announced that the U.S. Food and Drug Administration approved its non-opiod medication, Zilretta™, for osteoarthritis knee pain

October 5, 2017 Company and Stock News

  • Sears (SHLD): Sears Holdings (SHLD) reported that it borrowed $100 million from JPP, LLC and JPP II, LLC, investment firms owned by Sears’ CEO, Edward S. Lampert
  • Penn National Gaming (PENN) and Pinnacle Entertainment (PNK): The Wall Street Journal reported that Penn National Gaming (PENN) and Pinnacle Entertainment (PNK) and are holding merger discussions
  • Johnson & Johnson (JNJ) says it intends to exit the insulin pump business

October 4, 2017 Company and Stock News

  • Office Depot (ODP) enters into definitive agreement to acquire CompuCom Systems, Inc., a privately-held provider of IT services to U.S. businesses, including six of the top 10 Fortune 500 companies, for $1 billion
  • Amazon (AMZN) says its voice-controlled Alexa and Echo devices are now available in India and that they’ll be available in Japan by the end of 2017
  • Techcrunch.com reported that Amazon (AMZN) acquired Body Labs, a privately-held company whose mission is to create true-to-life 3D body models to support various business-to-business software applications
  • Reuters reported that the European Commission told Amazon (AMZN) to pay approximately 250 million euros ($295 million) in taxes to Luxembourg for undue tax benefits
  • The fly.com and other financial media reported that Apple (AAPL) is investigating possible negative issues with its iPhone 8 Plus after two owners of the phone shared pictures of the device burst open as a result of a potential battery failure
  • MarketWatch reported that Alphabet Inc. (GOOG) unveiled several new products at an event in San Francisco, including an expanded line of the company’s Home smart speakers, a new clip-on, stand-alone camera and its own line of new smartphones
  • Citrix Systems (CTXS) says it will reduce the size of its workforce and consolidate its facilities
  • Mylan N.V. (MYL) announced that the U.S. Food and Drug Administration approved its generic versions of Teva Pharmaceutical’s Copaxone, a drug for people who experience relapsing forms of multiple sclerosis
  • Catabasis Pharmaceuticals (CATB) says it experienced positive results from a Phase 2 trial of the company’s treatment for muscular dystrophy
  • Acadia Pharmaceuticals (ACAD) announced that the U.S. Food and Drug Administration granted the company a special designation for its drug pimavanserin, which used to treat hallucinations and delusions associated with dementia-related psychosis

October 3, 2017 Company and Stock News

  • Ford (F) announced a strategic plan to reduce the company’s expenses, accelerates its introduction of smart vehicles, allocate more of the company’s investments to SUVs and trucks, expand its offerings of electric vehicles and modernize its factories
  • Wal-Mart (WMT) announced that it acquired Parcel, a technology-based, same-day and last-mile delivery company specializing in perishable and non-perishable delivery to customers in New York City
  • Target (TGT) introduces “Drive Up”, a service that allows the store’s customers to have orders brought to their cars
  • Reuters reported that the U.S. Office of the Comptroller of the Currency is considering sanctioning Wells Fargo & Company for improperly charging customers for car insurance and mortgage loans
  • RedHill Biopharma (RDHL) says it experienced positive results from a Phase 2 trial of the company’s treatment for diarrhea-predominant irritable bowel syndrome
  • Rigel Pharmaceuticals (RIGL) says it experienced positive results from a Phase 2 study of the company’s treatment for people that have warm antibody autoimmune hemolytic anemia
  • Endocyte (ECYT) completes exclusive worldwide license agreement to market ABX GmbH’s treatment for prostate cancer

October 2, 2017 Company and Stock News

  • Valeant Pharmaceuticals (VRX) announced that it is offering $1 billion of bonds to fund the repurchase of the company’s 5.375%, 6.375% and 7.0% Senior Notes due 2020
  • Vitamin Shoppe (VSI) says it partnered with Macy’s China to offer the company’s nutritional products in China
  • AMC Entertainment (AMC) announced that it completed the sale of 2.8 million shares of its holdings in National CineMedia (NCMI) to an undisclosed American buyer for approximately $18.2 million
  • General Electric (GE) announced that effective today, Jeffrey Immelt retired as the company’s Chairman of the Board
  • Tesla (TSLA) says it delivered 26,150 during the quarter ended September 30, 2017, including 14,065 Model S sedans, 11,865 Model X crossover vehicles and 220 Model 3 sedans
  • Forest City Realty Trust (FCE.A) announced that it entered into a definitive agreement to sell 10 of its regional shopping malls to QIC, a global diversified alternative investment firm for approximately $3.175 billion

September 29, 2017 Company and Stock News

  • The Federal Reserve announced that it fined HSBC Holdings (HSBC) $175 million for the firm’s unsound practices in its foreign exchange trading business
  • Zogenix (ZGNX) announced that it experienced positive results from a Phase 3 clinical trial of the company’s treatment for a rare form of epilepsy

September 28, 2017 Company and Stock News

  • Party City (PRTY) says it plans to hire approximately 25,000 temporary employees and to open approximately 270 Halloween City pop-up stores for the 2017 Halloween season
  • Amazon (AMZN) announced that it plans to open its fifth Ohio fulfillment center in Euclid, Ohio and to hire more than 1,000 full-time employees to work at the facility
  • GoPro (GPRO) unveils two new versions of the company’s sports cameras, the HERO6 Black and Fusion, priced at $499.99 and $699.99, respectively
  • Lockheed Martin (LMT) announced that its board of directors authorized the company to repurchase an additional $2 billion of its common stock
  • Tyson Foods (TSN) announced that it increased its earnings estimate for the company’s fiscal year ending October 1, 2017 to a range of $5.20-5.30 per share, from a prior estimate of $4.95-5.05; additionally, the company stated that it plans to reduce its workforce by 450 persons and to record an associated restructuring charge of $140-$150 million for the three months ended October 1, 2017

September 27, 2017 Company and Stock News

  • Amazon.com (AMZN) announced new editions of its voiced-controlled Echo, priced at $99.99-$149.99, and a new Fire TV digital streaming-media player for $69.99
  • Applied Materials (AMAT) announced that its board of directors authorized the company to repurchase an additional $3 billion of its stock
  • Immune Pharmaceuticals (IMNP) says it experienced positive results from a Phase 2 trial of the company’s treatment for a rare skin disease
  • Therapix Biosciences (TRPX) says it experienced positive results from a study of the company’s development program for the treatment of cognitive impairment

September 26, 2017 Company and Stock News

  • Genius Brands International (GNUS) says beginning September 28 its Kid Genius Cartoons Plus! shows will be available to Amazon.com’s Prime Members for $3.99 per month
  • JC Penney (JCP) says it will offer a complete line of Frigidaire kitchen appliances Ayesha Curry cookware in approximately 600 of the company’s stores
  • Newell Brands (NWL) announced that it’s reinstating the company’s Stock Repurchase Program, which authorizes the company to repurchase approximately $256 million of its common stock
  • Actual Corporation (ACTA) enters into agreements to sell its three majority-owned businesses for an aggregate of $549 million in cash
  • Genocea Biosciences (GNCA) says it’s ceasing spending and activities on the company’s treatment for genital herpes
  • Axovant Sciences (AXON) says it experienced disappointing results from a Phase 3 trial of the company’s treatment for Alzheimer’s disease

September 25, 2017 Company and Stock News

  • DigiTimes reported that Apple (AAPL) has instructed suppliers of components for its iPhone X to withhold a portion of the component shipments
  • Genuine Parts Company (GPC) enters into definitive agreement to acquire Alliance Automotive Group for approximately $2 billion
  • Allergan plc (AGN) announced that its Board of Directors authorized a new $2 billion share repurchase program

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
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