• A 100bps increase in the dividend rate, Call protection until 2021, 5 years of capital distribution limits

8:57 am S&P futures vs fair value: +7.40. Nasdaq futures vs fair value: +16.80. (:WRAPX) : The S&P 500 futures trade seven points above fair value.

Markets across Asia finished Tuesday on a mostly lower note. Most importantly, equities in China reverted back into sell mode with the Shanghai composite dropping 1.3% last night. Sellers took charge at the opening bell and did not let up despite some late-day buying. This comes after the People's Bank of China injected CNY1.8 trillion in liquidity. The continued selling led more than 200 companies to halt their shares from trading in order to protect their market value, according to reports. It is believed that nearly 25% of A-share listings have been halted over the past seven days. Elsewhere, the Reserve Bank of Australia held its key interest rate at 2.00%, as expected, but left the door open for a rate cut later in the year.

• Economic data was limited: 
  • Australia's June AIG Construction Index fell to 46.4 from 48.0 

• Japan's Nikkei rose 1.3% on broad-based strength, notably in yesterday's laggards with IT and Financials outpacing the market to the tune of 1.5% each. Utilities were among the notable weak sectors, down ~1%. 
• Hong Kong's Hang Seng fell 1.0% today. Galaxy Entertainment continued to give back some of last week's gains seen late last week, falling another 2.3% today. China Unicom was also among the notable losers, shedding 2.8%. 
• China's Shanghai Composite could not sustain yesterday's positive day, falling 1.3% for the session. Financials continued to see positive gains, with of China Construction Bank gaining 10%, China Everbright Bank adding 9.4% and China Minsheng Banking rising another 8.8% after its 6.4% gain yesterday. 

• In economic data: 
  • Germany's May Industrial Production 0.0% month-over-month (expected 0.1%; prior 0.6%) 
  • France's trade deficit widened to EUR4.00 billion from EUR3.30 billion (expected deficit of EUR3.60 billion) 
  • UK's May Industrial Production +0.4% month-over-month (consensus -0.2%; last 0.3%); +2.1% year-over-year (expected 1.6%; previous 1.2%) 
  • Swiss June Unemployment Rate held at 3.3%, as expected 

• UK's FTSE has given up 0.2% with industrials and miners showing relative weakness. Rolls-Royce, Weir Group, Anglo American, and BHP Billiton are down between 1.5% and 4.6%. On the upside, airlines International Consolidated Airlines and EasyJet outperform with respective gains of 2.2% and 1.5%. 
• Germany's DAX is lower by 0.5% with basic materials names leading the retreat. K+S, HeidelbergCement, and Lanxess are down between 2.0% and 2.8% while countercyclical Fresenius SE and Henkel trade with respective gains of 1.7% and 1.2%. 
• France's CAC trades down 0.7% with Technip down 9.3% following yesterday's dive in crude oil. Exporters Peugeot and Renault also lag with losses close to 2.2% apiece. On the flip side, Pernod Ricard is the top performer, trading higher by 0.7%.

8:50 am On The Wires (:WIRES) :

• Enzymotec (ENZY) announced that Dr. Sylvain Rheims commenced an investigator initiated clinical trial of Vayarin in managing Attention Deficit Hyperactivity Disorder in children with epilepsy. The multi-center study is designed as a 12-week, double blind, placebo-controlled trial, which will be followed by a 12-week open label extension phase.
• Cemtrex (CETX) announced that it has recently completed its ISO 9001:2008 certification for its monitoring and instrumentation business. ISO 9001:2008 sets out the criteria for a quality management system and is the only standard in the family that can be certified to.
• Corning Incorporated (GLW) announced that Meizu Technology has chosen Corning Gorilla Glass 3 with Native Damage Resistance for its new Meizu MX5 smartphone.
• Koppers Carbon Chemical Company, a majority held Chinese joint venture of Koppers International B.V., a wholly-owned subsidiary of Koppers (KOP), announced an agreement with C-Chem Needle Coke to revise certain terms of its previously executed soft pitch supply agreement in exchange for a one-time payment of $30 million.

8:45 am Neogen signs commercialization agreement with Illumina (ILMN); terms not disclosed (NEOG) : Under the agreement, Illumina will market and sell arrays with Neogen's custom SNP content, built on Illumina Infinium BeadArray technology, to the global agrigenomics community.

8:45 am WTI crude oil futures modestly lower after Iran nuclear talks are extended again... follow-up coming. Aug crude oil is now -0.2% at $52.41/barrel, off today's high of $53.40/barrel (:COMDX) :  

8:43 am On The Wires (:WIRES) :

• Progenics Pharmaceuticals (PGNX) announced details of its planned Phase 3 clinical trial for 1404, a developmental stage small molecule designed to help visualize prostate cancer by targeting prostate specific membrane antigen. Following recent End-of-Phase 2 interactions with the FDA, the design and key elements of a Phase 3 clinical trial for 1404 have been finalized. An interim analysis will be performed after approximately one-third of the subjects have been treated and will include an analysis for futility and also evaluate the need for a sample size re-estimation. Progenics expects the Phase 3 trial to commence by the end of this year.
• CGI (GIB) announced the award of a $34.3 million contract from the U.S. Department of the Navy's Naval Sea Systems Command for Undersea Warfare Systems Engineering and Technical Assistance. 
• PFSweb (PFSW) has been engaged by Anastasia Beverly Hills, a leading cosmetics company, to provide infrastructure services in support of its U.S. direct-to-consumer channel.
• FIS (FIS) announced it is one of 19 organizations selected to serve on the Steering Committee of the Fed's new Faster Payments Task Force.
• Uranium Resources (URRE) has acquired an extensive data set containing historical mineral resource estimates as well as over 2,000 drilling logs, geologic and other data for URI's Butler Ranch Project in South Texas. The historical resource estimates, logs, geological maps and reports were prepared by Conoco, the former project operator, and are being acquired from a private party for $150,000. The parties will later negotiate the details of a 1% royalty on future production from URI's Butler Ranch properties.
• EDAP TMS SA (EDAP) announced the adoption of its Focal One system under a pay-per-procedure sale contract by two major University hospitals in Switzerland: the Centre Hospitalier Universitaire Vaudois in Lausanne and Geneva University Hospital.
  
• Highpower (HPJ) announced that the USPTO has granted a patent for Highpower's safety technology on rechargeable battery. This technology relates to a structural innovation to improve safety features. The patent number is US13/673634.

8:42 am European Markets Update: FTSE -0.2%, DAX -0.5%, CAC -0.7% (:SUMRX) : Major European indices trade lower across the board with France's CAC (-0.7%) trailing its peers. Also of note, the euro has dropped to a fresh one-month low amid the lack of new developments between Greece and its European creditors. The single currency is lower by 1.2% against the dollar, trading near 1.0930. On a related note, safe-haven demand has sent Germany's 10-yr bund to a session high with its yield down nine basis points at 0.67%.

• In economic data: 
• Germany's May Industrial Production 0.0% month-over-month (expected 0.1%; prior 0.6%) 
• France's trade deficit widened to EUR4.00 billion from EUR3.30 billion (expected deficit of EUR3.60 billion) 
• UK's May Industrial Production +0.4% month-over-month (consensus -0.2%; last 0.3%); +2.1% year-over-year (expected 1.6%; previous 1.2%) 
• Swiss June Unemployment Rate held at 3.3%, as expected 

• UK's FTSE has given up 0.2% with industrials and miners showing relative weakness. Rolls-Royce, Weir Group, Anglo American, and BHP Billiton are down between 1.5% and 4.6%. On the upside, airlines International Consolidated Airlines and EasyJet outperform with respective gains of 2.2% and 1.5%. 
• Germany's DAX is lower by 0.5% with basic materials names leading the retreat. K+S, HeidelbergCement, and Lanxess are down between 2.0% and 2.8% while countercyclical Fresenius SE and Henkel trade with respective gains of 1.7% and 1.2%. 
• France's CAC trades down 0.7% with Technip down 9.3% following yesterday's dive in crude oil. Exporters Peugeot and Renault also lag with losses close to 2.2% apiece. On the flip side, Pernod Ricard is the top performer, trading higher by 0.7%.
  

8:36 am Digital Ally sees Q2 sales just above estimates; reaffirms FY15 sales but lowers profit forecast for FY15 (DGLY) :

• Co issues upside guidance for Q2 (Jun), sees Q2 (Jun) revs of ~$5.5 mln vs. $5.33 mln Capital IQ Consensus Estimate. 
• Digital Ally's gross margins in the second quarter of 2015 improved significantly over the first quarter of 2015, and the Company believes it made substantial progress in the second quarter toward its goal of achieving a positive level of operations. 
• "Sales of our advanced video surveillance products to domestic law enforcement and commercial fleet customers were strong during the second quarter of 2015, as evidenced by the number of individual orders in excess of $100,000." -- 7.
• Co reaffirms rev guidance for FY15 (Dec), sees FY15 (Dec) revs of ~$25 mln vs. $24.90 mln Capital IQ Consensus. 
• "While we expect our operations to be profitable in 2015 for the first time since 2008, we do not expect to achieve our previous forecast of $2.5 million in operating income because of increases in production headcount, production support personnel, and SG&A expenses associated with additional direct sales personnel, pre- and post-sale support staff, technical support and engineering resources."

8:33 am Cardtronics announces notification of non-renewal of 7-Eleven agreement upon expiration in mid-2017 (CATM) : Co announced that it was notified by 7-Eleven, Inc. that 7-Eleven does not intend on renewing its ATM placement agreement with Cardtronics upon expiration of the agreement in mid-2017.

• 7-Eleven announced that it has selected a related entity of 7-Eleven's parent company as its next ATM provider. 
  
• Cardtronics does not expect this announcement to change its 2015 financial guidance, as issued on April 30, 2015.
  

8:33 am Novatel Wireless secures managed services contract with QVIS Monitoring UK; Deal aligns with Novatel Wireless corporate strategy to add recurring revenue elements (MIFI) : Under the partnership, Novatel Wireless is supplying QVIS with a feature-rich out of the box-ready telematics solution which includes the MiFi Drive model MT 3060, events reporting software, and airtime. The new offering enables QVIS to add a new line of service with recurring revenue to their business model, with mobile tracking solutions optimized for both usage based insurance and fleet management servicing consumers, commercial businesses, and government fleets.

8:32 am Iteris Holdings awarded $2.1 million traffic signal synchronization project from Orange County Transportation Authority (ITI) : Co has been awarded a $2.1 million traffic signal synchronization project by the Orange County Transportation Authority (:OCTA). The project includes upgrades to traffic signal infrastructure and signal timing improvements along an eight-mile stretch of a major corridor spanning three cities: Santa Ana, Costa Mesa, and Newport Beach. Under the project agreement, Iteris will design and implement traffic signal electronics and fiber-optic communications equipment, and will synchronize all 45 traffic lights along the entire Bristol Street corridor. 

8:32 am S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +12.40. (:WRAPX) : The S&P 500 futures trade seven points above fair value.

The May trade balance showed a deficit of $41.90 billion while the Briefing.com consensus expected the deficit to come in at $42.50 billion. The prior month's deficit was revised down to $40.70 billion from $40.90 billion.

8:32 am EnteroMedics prices 32 mln unit public offering (ETRM) : Each unit consists of one share of common stock and one Series A warrant to purchase one share of common stock at a purchase price of $0.50 per unit. Net proceeds from the offering are expected to be ~$14.7 mln, after deducting underwriting commissions and other expenses related to the offering. Co intends to use the net proceeds from the offering to continue its commercialization efforts, for clinical and product development activities and for other working capital and general corporate purposes.

8:31 am Carnival announces the U.S. Department of the Treasury and the U.S. Department of Commerce granted approval for the company to begin travel to Cuba (CCL) :

• Co announced that the U.S. Department of the Treasury and the U.S. Department of Commerce granted approval for the company to begin travel to Cuba.
• Carnival intends to take travelers to Cuba beginning in May 2016 via its newly launched fathom brand -- a new social impact travel brand providing purpose-oriented, social impact experiences, initially in the Dominican Republic.
• Carnival intends to operate fathom travel itineraries directly to Cuba for the purpose of providing cultural, artistic, faith-based and humanitarian exchanges between American and Cuban citizens.
• Authorized under current U.S.-to-Cuba travel guidelines, the new Cuban itineraries on fathom will strictly comply with U.S. Department of Treasury rules that allow licensed travel companies to transport approved travelers to Cuba to engage in activities that support the Cuban people.
• Carnival is in active discussions and plans to work with the appropriate authorities in Cuba so that Cuban approval is granted.

8:31 am Market View: Sep. stock-index futures hold a modest bid above fair values here following the 8:30 am ET economic data point (:TECHX) :

• ESu5 now 2066.75 +2.25
  
  
• YMu5 now 17641 +14
  
  
• NQu5 now 4422.00 -0.75

8:31 am Cynosure receives expanded FDA 510(k) clearance to market SculpSure (CYNO) : Co announces it has received 510(k) clearance from the FDA to market SculpSure for non-invasive lipolysis of the abdomen. In May, the FDA cleared SculpSure for non-invasive lipolysis of the flanks. The technology is expected to be launched in the U.S. in the second half of 2015.

8:31 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance: AMD -15.8%, SHLM -7.5%

Select China related names showing weakness: CMCM -6.8%, SFUN -4.8%, JMEI -4.7%, DANG -4.7%, LFC -2.8%, YOKU -2.3%, QIHU -1.9%

Select metals/mining stocks trading lower: MT -4.3%, BHP -2.6%, RIO -2.2%, GOLD -2.1%, BP -1.7%, .


Other news: ETRM -6% (announces termination of previously announced offering of 40.2 mln units at $0.87/unit; co also announces new public offering of common stock and warrants), STON -4.4% ( announces a public offering of 2.1 mln common units), SLW -3.6% (receives CRA Proposal Letter), ASML -2.6% (may be related to AMD guidance), STM -2.4% (may be related to AMD guidance)

Analyst comments: SHAK -5.3% (downgraded to Underweight from Equal-Weight at Morgan Stanley), TV -2% (downgraded to Neutral from Overweight at JP Morgan), TSLA -1.6% (downgraded to Hold at Deutsche Bank), JAKK -1.3% (downgraded to Market Perform from Outperform at BMO Capital)

8:30 am Western Union has activated in-bound Western Union Money Transfer service into Greece (WU) : Co activated in-bound Western Union Money Transfer service into Greece, allowing customers to receive funds into their bank accounts from 31 countries across North America, Europe, CIS and Asia Pacific. Western Union Money Transfers will be credited based on the agreed send value into the bank accounts of customers; but the 60 per transaction per customer per day withdrawal limits imposed by the Greek Government will continue to apply.  

8:30 am ZBB Energy signs power purchase agreement with Hawaiian University worth ~$3 mln (ZBB) :

• Co announces it signed a 20-year Power Purchase Agreement with University of the Nations on the Island of Hawaii. 
• The installation will feature distributed generation system, comprised of 408kW of photovoltaic panels, Agile Hybrid batteries, and accompanying Matrix electronic power controls.
  

8:27 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: PLUG +10.3%, OPTT +1.8%

M&A news: PNK +9.1% (Gaming and Leisure Properties (GLPI) sent a letter to the Board of Directors of Pinnacle Entertainment (PNK) conveying a significantly increased offer to acquire the real estate assets of Pinnacle; total PNK value ~$47.50/share),HZNP +1.8% (Horizon Pharma (HZNP) proposes to acquire DepoMed (DEPO) for $29.25/share in stock, or ~$3 bln)

Other news: PBMD +40.1% (receives positive Scientific Advice from the EMA on the development path for its lead product, IMP321 in metastatic breast cancer),ORMP +10.1% ( sign LoI with Sinopharm Capital and Hefei Life Science & Technology potentially valued at $50 mln plus royalty payments),MZOR +7.1% (receives 7 purchase orders for its Renaissance Systems in Q2),ESPR +4% (announces removal of 240 mg partial clinical hold for ETC-1002),SUNE +3.6% (TERP and SUNE signed a definitive agreement to acquire net ownership of 930 megawatt of wind power plants from Invenergy Wind for $2 bln; co also raised its 2016 dividend target),DYAX +3.6% ( receives FDA Breakthrough Therapy designation for DX-2930 for prevention of attacks of hereditary angioedema, supported by Phase 1b results),TERP +3.5% (co and SunEdison (SUNE) signed a definitive agreement to acquire net ownership of 930 megawatt of wind power plants from Invenergy Wind for $2 bln; co also raised its 2016 dividend target),LGCY +2.7% (Legacy Reserves and Funds Managed by TPG Special Situations Partners sign definitive agreements to jointly develop Legacy's Permian Basin Acreage),NFBK +2.6% (to replace JACK in the S&P SmallCap 600),PNX +2.4% (co executed the previously disclosed intercompany reinsurance treaty between two of its subsidiaries after receiving regulatory approval),TSL +2.3% (says that its cooperation with a local Malaysian partner to develop 500MW of solar module capacity is on track and the local partner has shipped modules as scheduled),STLD +2.1% (still checking),CTCT +1.8% (to replace WST in the S&P SmallCap 600),WST +1.3% (to replace ADVS in the S&P MidCap 400),JACK +1.1% (to replace AAP in the S&P MidCap 400)AAP +1% (to replace FDO in the S&P 500)

Analyst comments: FIT +5% (initiated with a Outperform at Robert W. Baird),OPHT +3.3% (initiated with an Outperform at Cowen),BITI +2.9% (initiated with a Buy at ROTH CapitaL),ARMH +1.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley),JOE +1.8% (upgraded to Outperform from Mkt Perform at Raymond James ),EA +1.7% (upgraded to Buy from Neutral at UBS),MRVL +1.7% (upgraded Perform from Underperform at Oppenheimer),TIF +1.2% (upgraded to Outperform from Mkt Perform at Bernstein),CRM +0.7% (upgraded to Buy at Brean Capital),DIS +0.6% (upgraded to Overweight from Neutral at Atlantic Equities)

8:25 am European Yields (BONDX) : High-Quality Sovereign Debt Rips Higher

• Manufacturing Production in the U.K. fell 0.6% m/m in May versus a 0.4% decline April. The report missed expectations and sent the 10-year Gilt yield down a quick 5 bps
• German Industrial Production was flat m/m in May versus expectations for growth and a 0.6% jump in April
• Swiss unemployment for June came out in line at 3.3%
• The Greek news outlet Kathimerini reported that 16 out of the 18 non-Greek countries in the eurozone want Greece out
• Yield Check:
• France, 10-yr OAT: -10 bps to 1.15%
• Germany, 10-yr Bund: -9 bps to 0.68%
• Greece, 10-yr note: +22 bps to 17.89%
• Italy, 10-yr BTP: -11 bps to 2.28%
• Portugal, 10-yr note: -3 bps to 3.13%
• Spain, 10-yr Bono: -4 bps to 2.29%
• U.K., 10-yr Gilt: -12 bps to 1.91%

8:18 am On The Wires (:WIRES) :

• Lattice Semiconductor (LSCC) announced its new iCE40 LM FPGA is integrated in the new Huawei P8 flagship smartphone to enable optimal 4G reception. Huawei will continue to use Lattice's low latency, tunable antenna controller in other devices using its Kirin 930 chipset.
• Copart (CPRT) announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 5:00 p.m., New York City time, on Monday, July 6, 2015. Based on the preliminary count by the depositary for the tender offer, Copart expects to accept for payment an aggregate of 6,262,579 shares of its common stock at a purchase price of $36.00 per share. 
• CoreLogic (CLGX) released its May 2015 CoreLogic Home Price Index which shows that home prices nationwide, including distressed sales, increased by 6.3 percent in May 2015 compared with May 2014.
• Hughes Network Systems, a wholly owned subsidiary of EchoStar Corporation (SATS), announced that it was awarded a contract by the African Development Bank to expand the managed MPLS services it provides to AfDB.
• Epic Sciences announced an agreement with Laboratory Corporation of America (LH) to provide circulating tumor cell technology and support oncology clinical trials in Asia through Covance Drug Development. Covance will process patient samples in Singapore, and then send samples to Epic's clinical laboratory in San Diego, which has recently been licensed under the Clinical Laboratory Improvement Amendments of 1988, for downstream detection and molecular characterization of CTCs. This agreement expands on a previous contract announced last year between Epic and LabCorp for European clinical trials.
• Hollysys Automation Technologies (HOLI) announced that it won the contract to supply its proprietary supervisory control and data acquisition system to Lanzhou Subway Line 1, valued at ~$12.26 million 
• Pressure BioSciences (PBIO) announced the development of a two-step, PCT-enhanced method for the selective differential extraction of male or female DNA from mixtures of sperm and vaginal epithelial cells recovered from cotton swabs. 

8:10 am Oramed Pharmaceuticals signed LOI with Sinopharm Capital and Hefei Life Science & Technology potentially valued at $50 mln plus royalty payments (ORMP) :

• Oramed will receive $500,000 in exchange for exclusively negotiating with Sinopharm/Hefei for 60 days, while the final terms of the agreement are negotiated and finalized. The transaction which additionally includes 10% royalties on sales, will allow Sinopharm/Hefei to purchase a roughly 10% stake in Oramed Pharmaceuticals and acquire rights for oral insulin in China.
• The terms are to be broken down as follows: Oramed will sell Sinopharm/Hefei 1,155,367 shares of common stock for ~$12,000,000. In addition, Oramed's wholly owned subsidiary, Oramed Ltd, will license to Sinopharm/Hefei the exclusive rights to ORMD-0801, oral insulin capsule in China, for a total amount of $38,000,000, of which $18,000,000 will be paid upon the signing of the license agreement and the remaining $20,000,000 will be paid following the completion, and release of results, of Oramed's current Phase IIb trial in the United States.
  

8:04 am Comstock Mining reports Q2 results; highlights positive operating cash flows from continued cost reductions, lower strip ratios (LODE) : Q2 results:

• Mining revenue was $5.4 million in Q2 2015 as compared to $6.0 million in Q2 2014. The decrease resulted from lower average gold prices and slightly lower gold ounces produced. 
• Metal pours totaled 4,575 ounces of gold and 60,112 ounces of silver, during the second quarter of 2015, as compared to 4,763 ounces of gold and 48,626 ounces of silver in the second quarter of 2014. The Company crushed and stacked 211,942 dry tons of mineralized material, delivering 6,438 estimated ounces of recoverable gold and 138,639 estimated ounces of recoverable silver to the leach pads with weighted average gold grades of 0.030 ounces per ton. 
• The Company has been cash positive from operations for the first six months of 2015, and expects to be cash positive from operations throughout 2015, while expanding exploration and development during the third quarter, primarily through the exploration and development on the East-side of Lucerne mine. 

8:04 am CB&I awarded ~$120 mln contract by hydrocarbon operator for long-term maintenance at its facilities in Peru (CBI) :  

8:04 am Enterprise Products increases quarterly distribution to $0.38/unit from $0.375/unit (EPD) :  

8:03 am Jaguar Animal Health appoints Dr. Victoria Lewis as Chief of Clinical Development; Lewis will oversee the planning, strategic development, and operation of clinical initiatives (JAGX) : Lewis has spent 30 years in drug development, including 15 years developing drugs in the animal health space. She began her career at Novartis -Sandoz (NVS), followed by Serono Laboratories and Parexel International (PRXL)

8:03 am CAE announces it won defense contracts worth higher than CAD $150 mln (CAE) : Co announces it has won defense contracts valued at more than CAD $150 mln to provide simulation products as well as training services for global military customers. The contracts announced today are included as part of CAE's Defence and Security order intake for Q1. Also of note, the value of this announcement includes an order for two P-8A operational flight trainers for the U.S. Navy, which was communicated to trade media on June 29, 2015.

8:03 am Westport Innovations to offer dedicated, liquid propane systems for 2016 Ford 5.0L F-150 trucks (WPRT) : This new liquid propane system will be offered in addition to Westport's compressed natural gas package for 2016 Ford F-150 trucks. Both fuel options are part of the Westport WiNG Power System and are expected to be certified to EPA and CARB standards.

8:03 am Premier Financial Bancorp to acquire First National Bankshares, for a combination of cash and stock currently valued at ~$26.5 mln (PFBI) :

• Co announces that they have entered into a definitive agreement whereby Premier will acquire First National, for a combination of cash and stock currently valued at ~$26.5 mln. 
• In conjunction with the acquisition by Premier, First National Bank, First National's wholly owned subsidiary bank, will be merged into Premier Bank, a wholly owned subsidiary of Premier also headquartered in Huntington, West Virginia.
  
• Under terms of the definitive agreement, First National shareholders will be entitled to a combination of Premier Financial common stock and cash currently valued at approximately $31.82 per First National share, or an aggregate value of $26.5 million, with Premier issuing approximately 1.4 million shares in the acquisition. 
• The transaction, s anticipated to close in the fourth quarter of 2015 with a systems conversion anticipated to be completed in the first quarter of 2016.
  

8:02 am Pinnacle: Gaming and Leisure Properties (GLPI) sent a letter to the Board of Directors of Pinnacle Entertainment (PNK) conveying a significantly increased offer to acquire the real estate assets of Pinnacle; total PNK value ~$47.50/share (PNK) :

• As previously announced, GLPI has proposed that Pinnacle's operating business would be spun off into a separately traded public company and its remaining real estate assets  would be merged into GLPI.
• Under GLPI's revised proposal, Pinnacle shareholders would receive a fixed exchange ratio of 0.85 GLPI common shares per Pinnacle share for PropCo, which is a 54% increase over the previously announced exchange ratio of 0.5517 on March 9 and values PropCo at over $31.50 per Pinnacle share based on GLPI's closing share price yesterday.
• Pinnacle shareholders would also continue to receive one share of OpCo common stock for each share of Pinnacle they own, which has an assumed value of approximately $16.00 per Pinnacle share.
• GLPI has committed financing in place and is ready to finalize this transaction immediately, and would expect to close transaction within approximately six months of signing. Nevertheless, Pinnacle continues to make new demands, delaying the signing of a definitive agreement.
  

8:02 am Professional Delivery Network exceeds 500,000 new users per month with Q2 bookings $10.3 mln, up nearly 800% (IPDN) : Co has sustained the rapid registered user growth it previously reported and surpassed 530,000 new registered users per month during June.

• 1,535,226 new registered users in the past 6 months 530,251 new registered users in June 2015 alone; Nearly 2,000% new registered user growth on a month over month basis in June 2015 (over 530K) versus October 2014 (26.5K), last full month before Noble Voice acquisition;  Q2 bookings of $10.3 million, up nearly 800% compared to second quarter 2014
  

8:02 am Pfizer begins Phase 2b study of its investigational multi-antigen staphylococcus aureus vaccine in adults undergoing elective spinal fusion surgery (PFE) :

• Co announced enrollment of the first patient in a Phase 2b clinical trial of its investigational Staphylococcus aureus (S. aureus) multi-antigen vaccine (PF-06290510) in adults undergoing elective spinal fusion surgery.
• The purpose of the study, named STRIVE (STaphylococcus aureus SuRgical Inpatient Vaccine Efficacy), is to evaluate the safety and efficacy of the vaccine to determine if it prevents postoperative invasive S. aureus infections in patients undergoing elective spinal surgery.
• The primary outcome of the study, with an estimated enrollment of 2600 subjects, will measure the number of subjects in each treatment group with postoperative S. aureus blood stream infections and/or deep incisional or organ/space surgical site infections occurring within 90 days after elective posterior instrumented lumbar spinal fusion.
• Secondary outcomes will also measure postoperative S. aureus blood stream infections and/or deep incisional or organ/space surgical site infections occurring within 180 days after surgery, and postoperative S. aureus surgical site infections occurring within 90 and 180 days after elective posterior instrumented lumbar spinal fusion.
  

8:02 am KBR finalizes sale of its Building Group subsidiary to Pernix for $22 mln; to record a pre-tax gain of ~$28 mln (KBR) :  

8:02 am Ventas signs an agreement giving EGI majority stake in Ardent Health Services, with Ventas owning a 9.9% interest, and current AHS mgmt holding a significant ownership stake (VTR) : Ventas (VTR) and an entity controlled by Equity Group Investments announce the hospital operations of Ardent Health Services, will be majority owned by EGI, with Ventas owning a 9.9 percent interest, and current AHS mgmt holding a significant ownership stake.

• Ventas previously announced plans to acquire AHS, a premier provider of healthcare services and one of the ten largest investor-owned hospital cos in the U.S., while retaining the owned real estate and selling the hospital operations of AHS to a newly formed and capitalized operating company. 
• The EGI-Ventas transaction values Ardent at ~$475 million, subject to working capital and other adjustments. 
• At closing, which is expected to occur in the third quarter of 2015, Ventas and Ardent will enter into pre-agreed, long-term, triple-net leases with initial annual base rent of $105 million
  

8:02 am Duke Energy raises quarterly dividend payment by ~4% to $0.825/share (DUK) : Co raises quarterly cash dividend to $0.825 per share, an increase of $0.03 per share, or 3.8%. New annual yield is 4.5%. Co's long-term target dividend payout ratio continues to be in the range of 65-70% of adjusted EPS.

8:02 am Esperion Therapeutics announces removal of 240 mg partial clinical hold for ETC-1002 (ESPR) : Co announces the FDA has removed the 240 mg partial clinical hold on ETC-1002. This allows ETC-1002 to be used at doses above 240 mg in clinical studies. ESPR plans to initiate the Phase 3 clinical program for ETC-1002 in the fourth quarter of this year using the already optimized 180 mg dose.

8:01 am Silicon Motion sees Q2 revenue up 7-9% q/q, at the upper end of original guidance (SIMO) : SIMO, a designer and marker of NAND flash controllers for solid state storage devices and specialty RF IC solutions for mobile devices, announces that based upon its preliminary second quarter financial results, revenue is expected to increase 7% to 9% sequentially, at the upper half of its original guidance range of a sequential increase of 5% to 10% that the company issued on April 28, 2015.

• Gross margin (non-GAAP) is expected to be near the mid-point of the company's original guidance range of 50 to 52%.
  

8:01 am Materialise expands its collaboration with Consensus Orthopedics to include ACO hip guides (MTLS) :

• Co announced that Consensus Orthopedics Inc. will use its Acetabular Cup Orientation (:ACO) Hip Guide System.
• Based on that pre-operative plan, patient-specific guides are designed and 3D printed for use during surgery. This platform will now be joined by Consensus Orthopedics.
  

8:00 am Mindray Medical to acquire the remaining stake in Wuhan Dragonbio for ~$72.6 mln (MR) :

8:00 am Flex Pharma announces its proprietary treatment prevented muscle cramps in an initial study of athletes participating in high intensity sports (FLKS) : Co announces its proprietary treatment prevented muscle cramps in an initial study of athletes participating in high intensity sports. "We believe this is the first time any consumer beverage has shown a statistically significant reduction of naturally occurring muscle cramps in athletes." Co is preparing to launch its product in 1H16. Co is now planning larger studies in athletes to further support these results.

7:59 am On The Wires (:WIRES) :

• ReneSola (SOL) has sold its 13.5 MW Wedgehill utility scale solar project in the United Kingdom to a renowned solar energy generator in the UK. 
• IMAX Corporation (IMAX) and Carmike Cinemas (CKEC) announced an expansion of the parties' revenue-sharing arrangement with the addition of three new IMAX theatre systems. Today's agreement brings to 24 theatres Carmike Cinemas' total IMAX commitment.
• PartnerRe (PRE) again urged shareholders attending EXOR's (EXOSF) presentation on its unsolicited offer to acquire PartnerRe to demand substantive and factual answers to critical questions. The co says that to date EXOR has either avoided answering important questions altogether or has provided misleading or incomplete responses to shareholders' concerns.
• Incyte (INCY) announced that it has entered into a multi-year research support and collaboration agreement with Vanderbilt-Ingram Cancer Center at Vanderbilt University Medical Center, whereby Incyte will provide funding for certain aspects of Vanderbilt's cancer research activities. This alliance is designed to develop an improved understanding of basic cancer biology and the mechanisms of action of certain Incyte-proprietary compounds, as well as identify and develop novel approaches to patient selection which may enable new therapeutic opportunities in oncology.
• Genmab A/S (GNMSF) announced that a variation to the Marketing Authorization has been submitted to the European Medicines Agency for the use of ofatumumab (Arzerra(r)) as maintenance therapy of patients with relapsed chronic lymphocytic leukemia. The application was submitted by Novartis (NVS) under the ofatumumab collaboration.
• Prospect Capital Corporation (PSEC) announced that it has committed up to $31 million to support the acquisition of Intelius Holdings, an information commerce company, by an affiliate of H.I.G. Capital

7:55 am S&P futures vs fair value: +8.20. Nasdaq futures vs fair value: +15.40. (:WRAPX) : U.S. equity futures hold modest pre-market gains, but they have backed away from their overnight highs reached around 3:15 ET. The S&P 500 futures remain higher by eight points against fair value.

Meanwhile, Treasuries have extended yesterday's advance with the 10-yr note holding a solid gain with its yield down four basis points at 2.24%.

Also of note, crude oil could only muster a short-lived rebound from yesterday's 7.8% dive. The energy component has retreated from its best level of the morning, trading lower by 0.4% at $52.33/bbl.

May Trade Balance (Briefing.com consensus -$42.00 billion) will be released at 8:30 ET while the May Job Openings and Labor Turnover Survey will cross the wires at 10:00 ET. The day's data will be topped off with the 15:00 ET release of the Consumer Credit report for May (consensus $17.60 billion).

In U.S. corporate news of note:

• Advanced Micro Devices (AMD 2.19, -0.28): -11.3% after lowering its Q2 revenue guidance due to weaker than expected consumer PC demand 
• Electronic Arts (EA 69.00, +0.99): +1.5% after UBS upgraded the stock to 'Buy' from 'Neutral.'

• Asian markets ended mixed. Japan's Nikkei +1.3%, Hong Kong's Hang Seng -1.0%, and China's Shanghai Composite -1.3%. 
  • Economic data was limited:
    • Australia's June AIG Construction Index fell to 46.4 from 48.0 
  • In news: 
    • The Reserve Bank of Australia held its key interest rate at 2.00%, as expected, but left the door open for a rate cut later in the year 
    • The continued selling in China led more than 200 companies to halt their shares from trading in order to protect their market value, according to reports. It is believed that nearly 25% of A-share listings have been halted over the past seven days.

• Major European indices trade lower across the board. UK's FTSE -0.3%, Germany's DAX -0.9%, and France's CAC -1.1%. Elsewhere, Italy's MIB -0.8% and Spain's IBEX -0.8%
  • In economic data: 
    • Germany's May Industrial Production 0.0% month-over-month (expected 0.1%; prior 0.6%) 
    • France's trade deficit widened to EUR4.00 billion from EUR3.30 billion (expected deficit of EUR3.60 billion) 
    • UK's May Industrial Production +0.4% month-over-month (consensus -0.2%; last 0.3%); +2.1% year-over-year (expected 1.6%; previous 1.2%) 
    • Swiss June Unemployment Rate held at 3.3%, as expected 
  • Among news of note: 
    • The euro has dropped to a fresh one-month low amid the lack of new developments between Greece and its European creditors. The single currency is lower by 0.9% against the dollar, trading near 1.0960. On a related note, safe-haven demand has sent Germany's 10-yr bund to a session high with its yield down nine basis points at 0.67%

7:45 am Smiths Group announced the appointment of Andrew Reynolds Smith as its new Chief Executive (SMGZY) :

• He will join on 25 September 2015. 
• He is currently Chief Executive of GKN (GKNLY) Automotive.
  

7:45 am WTI crude oil began the morning off higher after collapsing 7.8% yesterday, but just went into the red for the first time today (:COMDX) :

• Despite strength in the dollar index of 0.7% this morning, oil futures are trying to trade higher
  
• Front-month Aug crude oil futures have been in positive territory morning so far and rose as high as $53.40/barrel
• Aug crude has since been sliding lower off that HoD and are now down 3 cents at $52.50/barrel

7:39 am Overnight Treasury Summary (BONDX) : Treasuries Add to Monday's Gains

• Treasury coupon securities are broadly higher this morning in a curve-flattening trade. EUR/USD touched its lowest level since early June and now stands down 0.82% to $1.0964
• Yield Check:
• 2-yr: -2 bps to 0.57%
• 5-yr: -3 bps to 1.53%
• 10-yr: -4 bps to 2.24%
• 30-yr: -6 bps to 3.02%
• 10-yr Bono/Bund: +9 bps to 165 bps

• International News:
• The Eurogroup of eurozone finance ministers is still awaiting Greece's first proposal post-referendum
• Preliminary reports of the proposal, from Suddeutsche Zeitung, indicate that the proposal will be quite similar to those before it
• Debt writedowns remain an important stumbling block
• Greece owes 3.5 bln euro to the ECB on July 20th
• The Shanghai Composite fell 1.29% to 3,727.13. The index is now down 25.80% over the past month and the ChiNext Index of more speculative companies is down 39.47%
• German Industrial Production was unchanged m/m in May, short of expectations and the 0.6% jump in April
• In the U.K., Manufacturing Production fell 0.6% m/m versus expectations for a rise. MP fell 0.4% in April
• The Reserve Bank of Australia held its cash rate steady at 2.00%
• RBA Governor Stevens said that monetary conditions remain loose despite turbulence in China and Greece

• Data out Today:
• May Trade Balance (08:30 ET)
• May JOLTS -- Job Openings (10:00 ET)
• May Consumer Credit (15:00 ET)
• Treasury Auction:
• $24 bln 3-year note auction, (results at 13:00 ET)

7:36 am XBiotech announces publication of Type 2 diabetes clinical results; study also showed that the antibody therapy not only improved measures of glucose control, but also significantly reduced blood pressure in the patients (XBIT) :

• XBiotech announced publication of clinical results from an open label pilot study for its antibody therapy for treatment of Type 2 diabetes.
• The findings point towards a groundbreaking therapy for Type 2 diabetes by treating the disease rather than its symptoms.
• The co has developed a True Human monoclonal antibody therapy derived from an individual with natural immunity to the body's own inflammatory process that can disrupt pancreas function and limit insulin action.
• In the peer-reviewed article titled, "Safety, Pharmacokinetics, and Preliminary Efficacy of a Specific Anti-IL-1alpha Therapeutic Antibody (MABp1) in Patients with Type 2 Diabetes Mellitus," XBiotech reported that biweekly intravenous infusions with MABp1 for a period of 60 days resulted in objective improvements to a number of diabetes parameters including HbA1c, fasting C-peptide, pro-insulin and insulin.
• Interestingly, the study also showed that the antibody therapy not only improved measures of glucose control, but also significantly reduced blood pressure in the patients.
• Katharina Timper, MD, researcher at the Department of Biomedicine, Metabolism Group at University Hospital Basel and lead author, said, "The initial response demonstrated in this trial suggests that the novel mechanism of IL-1a blockade may improve glucose homeostasis and beta-cell function, along with decreased blood pressure without signs of short-term toxicity. We are highly encouraged by these preliminary findings, which warrant further studies using this antibody in this high-need patient population."

7:30 am SunOpta announces Rik Jacobs to succeed Steve Bromley as President and CEO, effective October 1, 2015 (STKL) : Co announced the appointment of Rik Jacobs to President and Chief Executive Officer effective October 1, 2015. In conjunction with this appointment, Jacobs will also become a member of the Board of Directors. Jacobs will succeed SunOpta's current CEO Steve Bromley, who will assume the role of Vice Chair effective October 1, 2015. Bromley will complete the transition in leadership and support Jacobs and the Board on key corporate development activities until the end of 2015.

7:30 am Primoris Services announces underground award for more than $10 mln (PRIM) :

• Co announces a new underground award valued in excess of $10 mln for a midstream customer. 
• The award is for a new natural gas pipeline in Susquehanna County, Pennsylvania. Construction is scheduled to start in the third quarter of 2015.
  

7:26 am Genesis Energy, L.P. increases quarterly distribution 2.5% to $0.625/share (GEL) :  

7:16 am On The Wires (:WIRES) :

• CYREN (CYRN) announced that Securepoint, a German-based provider of network access, network security and mail archiving solutions, has added three new layers of CYREN cybersecurity technologies alongside its existing use of CYREN Antispam and Antimalware.
• Affymetrix (AFFX), BioRealm, LLC, and RUCDR Infinite Biologics announced a broad strategic alliance. This alliance will leverage BioRealm's SmokeScreen platform to genotype the National Institute on Drug Abuse biorepository of more than 50,000 samples, collected from human subjects studied in NIDA-funded research. NIDA preserves these samples in a biorepository at RUCDR Infinite Biologics, on the campus of Rutgers University. 
• LifePoint Health (LPNT) and Duke University Health System have advanced their quality collaboration through the launch of the Duke LifePoint Quality Affiliate designation program. 
• Support.com (SPRT) announced that Alexandros Poulos has joined the company in the role of Vice President, Marketing. Poulos joins Support.com from his last role as Chief Marketing Officer for NetDimensions (NETDY).
• SteadyMed (STDY) announced the completion of its program of human factors studies for its lead drug product candidate, Trevyent, which is in development for the treatment of pulmonary arterial hypertension.
• Summit Therapeutics (SMMT) announces that the European Patent Office has granted a composition of matter patent for the small molecule utrophin modulator SMT C1100 and that the period of opposition for this patent has now expired with no opposition having been filed. The patent protects SMT C1100 and its use in the treatment of the fatal muscle wasting disease DMD.
• Cempra (CEMP) announced the completion of enrollment for the global Solitaire-IV Phase 3 trial of solithromycin in adult patients with moderate to moderately severe community-acquired bacterial pneumonia. Top-line efficacy and safety data from this study are expected to be announced by the end of the year. 
• Informatica Corporation (INFA) announced that Ginna Raahauge has joined as senior vice president and chief information officer and that Jeff Moses will serve as senior vice president of Cloud Sales, reporting to Charles Race, executive vice president of Worldwide Field Operations.
• Cancer Genetics (CGIX) announced that it has entered into a partnership with the Laboratory Services group of ICON plc (ICLR). ICON's Laboratory Services provide global testing services to the pharmaceutical, biotechnology and medical device industries. 

7:15 am Dyax receives FDA Breakthrough Therapy designation for DX-2930 for prevention of attacks of hereditary angioedema, supported by Phase 1b results (DYAX) : The FDA granted Breakthrough Therapy designation for the investigation of DX-2930 for hereditary angioedema (HAE). Dyax is developing DX-2930, an investigational fully human monoclonal antibody inhibitor of plasma kallikrein (pKal), as a subcutaneous injection for prevention of HAE attacks.

• The designation is supported by the interim results of Dyax's Phase 1b clinical trial of DX-2930 in HAE patients. The Phase 1b study met all objectives assessing safety, tolerability and pharmacokinetics of multiple subcutaneous administrations of DX-2930. Additionally, in a pre-specified proof-of-concept efficacy analysis, DX-2930 demonstrated statistically significant reductions in attack rate compared to placebo.
  

7:05 am MSC Industrial beats by $0.07, reports revs in-line; guides Q4 below consensus (MSM) :

• Reports Q3 (May) earnings of $1.03 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus of $0.96 and $0.95-0.99 guidance; revenues rose 3.5% year/year to $745.5 mln vs the $745.11 mln consensus and $740-752 mln guidance; +3.5% avg. daily sales.
• Co issues downside guidance for Q4, sees EPS of $0.93-0.97 vs. $0.99 Capital IQ Consensus Estimate; sees Q4 revs of $735-747 mln vs. $755.89 mln Capital IQ Consensus Estimate. At the midpoint, average daily sales growth is expected to be 2.0%.
  

7:03 am Trina Solar says that its cooperation with a local Malaysian partner to develop 500MW of solar module capacity is on track and the local partner has shipped modules as scheduled (TSL) : The company's goal of producing 400MW of solar modules this year as a part of this cooperation remains unchanged. The company says the cooperation is part of its geographical diversification strategy, and is in line with the Company's asset-light strategy to localize production in various key markets that the Company believes have promising solar demand.

7:03 am Colliers acquires IDB Management; terms not disclosed (CIGI) : IDB Management is an asset and property management firm in Belgium. As part of the transaction, IDB will be rebranded as Colliers International and the principals will lead its asset and property management segment going forward.

7:02 am IAMGOLD provides update from ongoing Pitangui gold project in Brazil, which confirms continuity of targeted zones (IAG) : Co provided an update from ongoing exploration at the Company's wholly-owned Pitangui gold project in Brazil.

• Assay results have been received for a further 24 Diamond drill holes totalling 9,802 metres from a total of 61 drill holes totalling 22,406 metres completed on the So Sebastio deposit as part of an ongoing delineation drilling program initiated in 2014. 
• "The planned infill delineation drilling program is nearing completion and the results we are reporting further confirm the continuity of the targeted zones, intersecting thicker intervals of high grade mineralization. We look forward to reporting the final assay results and incorporating them into a revised resource estimate targeted for completion by year end."
  

7:02 am Plug Power reaffirms FY15 financial targets; maintains forecast for revs of $100 mln vs $99.96 mln Capital IQ Consensus Estimate (PLUG) : Co highlighted strong fuel cell and hydrogen infrastructure shipments and installations in the second quarter of 2015 allowing for a record revenue quarter.

• Reaffirms FY15 financial targets; 
• Maintains forecast for revs of $100 mln vs $99.96 mln Capital IQ Consensus Estimate.
• Projects bookings of more than $200 mln in 2015, with approximately 75% coming from repeat customers.
  

7:02 am Allergan announces licensing agreement with Merck (MRK) for exclusive worldwide rights to CGRP migraine development program; AGN reaffirms earnings forecast (AGN) : Allergan will acquire the exclusive worldwide rights to Merck's investigational small molecule oral calcitonin gene-related peptide (:CGRP) receptor antagonists, which are being developed for the treatment and prevention of migraine.

• Under the terms of the agreement, Allergan will acquire these rights for an upfront payment of $250 million, $125 million of which is payable upon HSR clearance and $125 million of which is payable in April of 2016. 
• Merck will additionally be entitled to receive potential development and commercial milestone payments and tiered double-digit royalties based on commercialization of the programs. 
• Allergan will be fully responsible for development of the CGRP programs, as well as manufacturing and commercialization upon approval and launch of the products.
• Allergan reaffirms 2015 EPS forecast provided on May 11, 2015.

7:01 am DepoMed: Horizon Pharma (HZNP) proposes to acquire DepoMed for $29.25/share in stock, or ~$3 bln (shares halted) (DEPO) : Horizon Pharma (HZNP) announced a proposal to acquire all outstanding shares of Depomed, Inc. for a per share consideration of $29.25 in an all-stock, tax-free exchange valued at approximately $3.0 billion. Horizon's proposal represents a premium of 42 percent to the closing price of Depomed on July 6, 2015. The proposal is subject to the pre-condition of confirmatory due diligence. This pre-condition may be waived by Horizon Pharma plc at its discretion. 

• The transaction, if consummated, would be immediately and substantially accretive to Horizon's adjusted diluted earnings per share. 
• Horizon detailed that a projected full-year pro forma combined 2015 net sales and adjusted EBITDA would be in excess of $950 million and $350 million, respectively, based on Depomed's and Horizon's existing guidance
  
• The combined company would have 13 marketed medicines, nearly doubling Horizon's current portfolio, with more than 700 sales representatives in Primary Care, Orphan and Specialty business units
  

7:00 am Erin Energy provides update on its Oyo field production; current average production from the Oyo field is in excess of 14,200 barrels (ERN) :

• Nigeria: Erin Energy's current average production from the Oyo field is in excess of 14,200 barrels of oil equivalent per day and is 94% oil. The Company is continuing further production optimization efforts on both the Oyo-7 and Oyo-8 wells. 
• The Gambia: The necessary permits for the 3D seismic acquisition have been issued by the government of The Gambia, and the Company expects to commence the acquisition this month.
  

6:54 am WCI Communities announces secondary common stock offering of ~3.25 mln shares by selling stockholders (WCIC) :

• Co announces entities affiliated with Monarch Alternative Capital & entities affiliated with Stonehill Capital Management intend to offer ~3.25 mln shares of the Company's common stock in a registered public offering. 
• The Company will not sell any shares in this offering or receive any portion of the proceeds from this offering.
  

6:47 am Globant announces that certain of its shareholders have commenced a secondary public offering of 3.5 mln common shares (GLOB) : Globant is not offering any common shares in the offering and will not receive any proceeds from the sale of the common shares.

6:25 am S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +25.50. :

6:25 am European Markets : FTSE...6,531.06...-4.60...-0.10%.  DAX...10,845.22...-45.40...-0.50%.

6:25 am Asian Markets : Nikkei...20,376.59...+264.50...+1.30%.  Hang Seng...24,975.31...-261.00...-1.00%.

6:13 am On The Wires (:WIRES) :

• Innate Pharma SA announced that the co-development and commercialization agreement with AstraZeneca (AZN) on Innate Pharma's proprietary anti-NKG2A antibody, IPH2201, received HSR clearance. The companies will now begin to work together to accelerate and broaden the development of IPH2201, including in combination with MEDI4736, an anti-PD-L1 immune checkpoint inhibitor developed by MedImmune.
• Global Sources (GSOL), through its Shenzhen, China subsidiary, has entered into a Letter of Intent for the sale of its investment property on the 50th floor of the Shenzhen International Chamber of Commerce Tower in Shenzhen, China. The total price is ~$21.7 million.
• Progress (PRGS) announced major product advancements and the closing of a number of significant new deals with Intuit and GT Nexus among others as it enters the second half of 2015. 
• NRG Energy (NRG) and Ice Energy partner to help reduce California's peak energy demand. NRG and Ice Energy will meet the recently awarded 20 year long-term contracts to provide 25.6 megawatts of behind-the-meter energy storage using Ice Energy's proprietary Ice Bear technology for Southern California Edison. Financial terms of the agreement were not disclosed.
• Dejour Energy (DEJ) announced an operational update for its project in NW Colorado. Since the commencement of the current phase of Kokopelli in September 2014, Dejour, together with its operating partner have completed the drilling, casing and testing of the produced water disposal well on Pad 21A, vital to the economics of the ongoing Kokopelli production programs. This well is now ready to equip as a disposal well for produced water for all wells expected to be drilled in the future on the Jolley Mesa portion of the south lease at Kokopelli. 
• Turkcell (TKC) and Turkish defense industries company ASELSAN have taken the first major step in Turkey for 5G mobile communication technologies development. Turkcell CEO Kaan Terzioglu and Dr. Faik Eken, the General Manager of ASELSAN, have signed the framework agreement that sets the stage for cooperation between the two companies.
• Timmins Gold (TGD) announced that it has commenced drifting into the underground veins parallel to the south wall of the San Francisco pit. The drift is part of a pilot phase designed to test the mining and processing of the underground ore in preparation for full scale underground mining.
• ZELTIQ Aesthetics (ZLTQ) disclosed that on June 30, 2015, Len DeBenedictis, age 74, Chief Technology Officer, requested, and on July 1, 2015, ZELTIQ agreed, that effective July 1, 2015, Mr. DeBenedictis would reduce his work hours commitment with ZELTIQ by 20%, and commensurate with that reduction that his salary would be reduced by 20%.

5:58 am Nexvet Biopharma signs R&D agreement with animal health company Zenoaq to develop a number of therapeutic biologics for companion animals (NVET) : The biologics will target undisclosed proteins involved in the areas of immuno-oncology and allergy/inflammation. Key aspects of the collaboration include:

• Nexvet will apply its PETization technology to Zenoaq monoclonal antibodies already identified as having therapeutic potential in companion animals 
• Development costs will be shared equally 
• Zenoaq will retain European and Asian marketing rights to developed products, with Nexvet retaining rights to the rest of the world, including the United States.
  

5:30 am Prima Biomed receives positive Scientific Advice from the EMA on the development path for its lead product, IMP321 in metastatic breast cancer (PBMD) : After dialogue between Prima and the EMA, the Agency has now confirmed in writing its endorsement of the development program of IMP321 in metastatic breast cancer. The planned Phase IIb study, to be called AIPAC (Active Immunotherapy PAClitaxel) is considered well designed by the Agency. AIPAC is now expected to initiate in Europe during the 4th quarter of 2015. While the EMA never endorses any statement on the likelihood of future regulatory decisions, the Agency's communication has suggested that the achievement of certain clinical endpoints may lead to Marketing Authorization in the EU based on this one pivotal study.

• After a smaller safety run-in phase that will extend into 2016 and will yield valuable safety, pharmacokinetic and pharmacodynamic data, AIPAC will proceed to recruit around 200 patients with HER-2 negative metastatic breast cancer, randomising them 1:1 to either standard-of-care paclitaxel plus placebo or paclitaxel plus IMP321. The trial will have Progression-Free Survival as its Primary Endpoint, with response rates according to the RECIST criteria and Overall Survival among the secondary endpoints. The study has been powered to show a four-month PFS advantage for the treatment group1. 
• Allowing time for patient recruitment and follow-up, AIPAC's expected duration is around three years.
  

4:34 am Mazor Robotics receives 7 purchase orders for its Renaissance Systems in Q2 (MZOR) : Co announced that it received purchase orders for and delivered seven Renaissance systems and one system upgrade in the second quarter ended June 30, 2015.

• Six of the systems were delivered to U.S. hospitals and one was delivered to Spain. 
• The Company ended the quarter with 93 Renaissance systems installed globally, with 53 in the U.S., the Company's primary growth market, compared with 72 and 39 systems for the second ended June 30, 2014, respectively.
  

3:38 am Israel Chemical resumes production of polymeric flame retardant following end of labor strike (ICL) : Co announced that its ICL Industrial Products segment has resumed commercial production of its FR-122P polymeric flame retardant following the end of a labor strike at its 10,000 MT/year plant in Israel. ICL IP also produces FR-122P at a 2,400 MT/year plant in the Netherlands.

• ICL IP also announced today that it is ceasing production and phasing out sales of its HBCD product, FR-1206, excluding sales based on existing commitments to customers, and in line with the phase out dates of REACH and POP legislation.
  

3:32 am Travelport Worldwide acquires privately held Mobile Travel Technologies; terms not disclosed (TVPT) : Travelport Worldwide has acquired Mobile Travel Technologies, a private company based in Dublin, Ireland.

• MTT provides an industry-leading mobile travel platform and product set that allows airlines, hotels, corporate travel management companies and travel agencies to engage with their customers through sophisticated, tailored mobile services including apps, mobile web and intelligent mobile messaging. 
  

3:15 am On The Wires (:WIRES) :

• NVIDIA (NVDA) announced updates to its GPU-accelerated deep learning software that will double deep learning training performance. The new software will empower data scientists and researchers to supercharge their deep learning projects and product development work by creating more accurate neural networks through faster model training and more sophisticated model design. 
• KKR (KKR) together with Hines Italia Value Added Fund, a fund managed by Hines Italia SGR, and COIMA, announced the acquisition of five telecom assets leased to Telecom Italia (TI). The portfolio has a total area of 35,500 square metres. It consists of five separate sites, in Rome, Monza, Parma, San Remo and Pavia.
  

2:20 am On The Wires (:WIRES) :

• Spok (SPOK) announced that it has partnered with Thailand-based medical distributor Xovic to enable healthcare organisations to improve efficiency and safety with better staff communications. Through this partnership, Xovic distributes Spok's clinical alerting and secure smartphone messaging solutions to hospitals in Thailand. 
• Constellium N.V. (CSTM) announced that it has formed a partnership with STELIA Aerospace and CT INGENIERIE to engage in a research and development project called FAST, focused on topological optimization of aero structures and additive manufacturing, also known as 3D printing.
  

1:13 am Silver Wheaton receives CRA Proposal Letter; does not require the Company to pay any amount to the CRA at this time. (SLW) : Co announces that it has received a proposal letter dated July 6, 2015 from the Canada Revenue Agency in which the CRA is proposing to reassess Silver Wheaton under various rules contained in the Income Tax Act.

• The Proposal outlines CRA's position that the transfer pricing provisions of the Income Tax Act relating to income earned by our foreign subsidiaries outside of Canada should apply such that the income of Silver Wheaton subject to tax in Canada should be increased for the 2005 to 2010 taxation years by approximately C$715 million ($567 million). The issuance of the Proposal does not require the Company to pay any amount to the CRA at this time. 
• Management believes that the Company has filed its tax returns and paid applicable taxes in compliance with Canadian tax law. 
• Silver Wheaton intends to vigorously defend its tax filing positions and is now in the process of preparing its response to the Proposal. 

1:08 am On The Wires (:WIRES) :

• Banc of California, N.A., a wholly owned subsidiary of Banc of California (BANC), and Americas United Bank announced a definitive agreement for Americas United Bank, a minority-owned financial institution, to purchase two branch locations from Banc of California, N.A. The branches are located in Commerce and Santa Fe Springs, California. 
• Woodside Energy and OneSubsea, a Cameron (CAM) and Schlumberger (SLB) company, jointly announce that OneSubsea has been awarded a front-end engineering and design contract for the proposed Woodside-operated Browse FLNG Development offshore northwest Australia.
  

12:58 am CenterPoint will pay additional interest on its 2.0% Zero-Premium Exchangeable Subordinated Notes due 2029 (CNP) : Additional Interest of $1.4520600 per ZENS note will be paid on July 24, 2015 to holders of record as of the close of business on July 10, 2015, and Additional Interest of $0.8206900 per ZENS note will be paid on July 28, 2015 to holders of record as of the close of business on July 14, 2015.

12:49 am Euronet acquires XE to enhance its Money Transfer Business (EEFT) : Euronet Worldwide announced it has acquired XE, a digital foreign exchange information co.

• Euronet will use approximately $60 million from its revolving credit agreement together with approximately 640,000 Euronet shares and an undisclosed amount of cash to complete the acquisition. 
• XE's foreign currency payments are currently processed through a vendor, and Euronet expects XE's annual revenue of approximately $10 million to improve to ~$22 million once the payments processing is converted to Euronet's platform at HiFX.
  

12:45 am BDCA Venture encourages stockholders to vote on the WHITE proxy card for all co's director nominees (BDCV) :  

12:41 am SAExploration Holdings completes first major deep water ocean-bottom marine seismic project a week ahead of schedule (SAEX) : Co announced that it has successfully completed its first major deep water ocean-bottom marine seismic project. The project, which was located in Southeast Asia and utilized an advanced remotely operated vehicle deployment method at water depths reaching 1,100 meters, was completed over a week ahead of schedule, leading to meaningful cost savings for the customer. Superior planning and project execution led to enhanced performance despite the challenging and complex operating conditions.