8:53 am S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -1.40. (:WRAPX) : The S&P 500 futures trade two points below fair value.

Most markets in the Asia-Pacific region began the new week on a lower note, but not the Shanghai Composite. It jumped another 2.2% on the heels of last week's 8.9% gain. That move followed some generally disappointing trade data for May that featured a 2.5% decline in exports and a 17.6% decline in imports. The soft export figure acted as a drag on sentiment for regional markets.

• In economic data: 
  • China's May Trade Balance $59.49 bln (expected $44.95 bln; prior $34.13 bln) as Exports -2.5% (expected -5.0%; prior -6.4%) and Imports -17.6% (expected -10.7%; -16.2%) 
  • Japan's April Adjusted Current Account Balance JPY 1.27 tln (expected JPY 1.45 tln; prior JPY 2.07 tln), May Bank Lending +2.6% year-over-year (expected +2.6%; prior +2.6%), and Q1 GDP Revised +1.0% quarter-over-quarter (expected +0.7%; prior +0.6%); +3.9% year-over-year (expected +2.7%; prior +2.4%) 

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• Japan's Nikkei posted a fractional loss for the session following an upward revision to Q1 GDP growth. Gains in the technology (+0.8%) and consumer non-cyclical +0.5%) sectors were offset by losses in the communications (-0.7%) and industrial (-0.6%) sectors. Individual standouts included Mitsui Mining & Smelting (+4.5%), Shiseido (+3.4%), and MEIJI Holdings (+3.2%). Pacing the laggards were Dentsu (-3.7%), Kansai Electric Power (-3.1%), and Tokyo Electric Power (-2.8%). Out of the 225 index members, 103 ended higher, 115 finished lower, and 7 were unchanged. 
• Hong Kong's Hang Seng increased 0.2%, bolstered by gains in the energy sector (+0.4%) and leading financial issues. Bank of Communications (+8.0%), Bank of China (+3.7%), and Ping An Insurance (+3.1%) sat atop the list of winners while China Mengniu Dairy (-5.4%) and Want Want China Holdings (-3.9%) led the losers. Out of the 50 index members, 19 ended higher, 29 finished lower, and 2 were unchanged. 
• China's Shanghai Composite jumped 2.2% on the back of an 8.9% gain last week. The advance followed some disappointing trade data for May that showed a decline in both exports and imports, bolstering speculation that further policy stimulus will be seen. The Composite also benefited from speculation that 'A' shares will be included in the MSCI Emerging Markets Index. That decision will be made June 9. The Shanghai Composite is up 11.3% month-to-date and 58.6% year-to-date. 

Major European indices trade mostly lower amid continued lack of progress between Greece and its creditors. Germany's Tagesspiegel has recently quoted Greek Finance Minister Yanis Varoufakis as saying creditors are "not interested in a deal." Furthermore, Mr. Varoufakis has accused Greece's creditors of sabotaging the debt talks.

• Economic data was limited: 
  • Eurozone June Sentix Investor Confidence fell to 17.1 from 19.6 (expected 18.7) 
  • Germany's Industrial Production +0.9% month-over-month (expected 0.5%; prior -0.4%) while April Trade surplus expanded to EUR22.30 billion from EUR19.40 billion (expected EUR19.40 billion) as imports -1.3% (expected 0.5%; prior 2.4%) and exports +1.9% (consensus 0.1%; last 1.3%) 

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• UK's FTSE trades just above its flat line with miners on the defensive. Anglo American, BHP Billiton, and Rio Tinto are all down near 1.3% apiece. Consumer names outperform with Diageo trading higher by 6.6% amid takeover chatter. 
• France's CAC is down 0.6% with all but three names trading in the red. Total is the weakest performer, down 3.0%. Meanwhile, financials trade a bit ahead of the broader market with BNP Paribas and Societe Generale down 0.4% and 0.1%, respectively. 
• Germany's DAX has given up 0.7% with exporters Daimler and Continental losing 1.2% and 2.0%, respectively. On the upside, Deutsche Bank has jumped 5.3% after co-chief executives Juergen Fitschen and Anshu Jain resigned.

8:51 am Argan beats by $0.12, misses on revs (AGX) : Reports Q1 (Apr) earnings of $0.50 per share, $0.12 better than the Capital IQ Consensus of $0.38; revenues rose 67% year/year to $85 mln vs the $88.5 mln consensus.

• The co's subsidiary, Gemma Power Systems, contributed 97% to total consolidated revenues and gross profit for the current quarter.
• "While the amount of our booked business declined during the current quarter, we are seeing a significant level of bids outstanding with both new and repeat clients."
  

8:49 am On the Wires (:WIRES) :

• Capstone Turbine Corporation (CPST) announced that it received two orders for C1000 microturbines for energy efficiency projects in New York City, New York. A single C1000 will be installed at a New York University research and learning facility while a second C1000 will replace the existing generators at the River Park Towers residential complex in the Bronx.
  
• Intralinks Holdings, (IL) announced it has entered into a partnership with Kraft & Kennedy. Intralinks will work with Kraft & Kennedy to deliver secure enterprise collaboration and file sharing solutions to the legal industry.
  
• Cetera Financial Institutions, a unit of RCS Capital Corporation (RCAP) announced the addition of Bobby Huddleston as Senior Vice President of New Business Development, effective immediately
  
• MSA Safety Incorporated (MSA) announced that its breakthrough G1 Self-Contained Breathing Apparatus (:SCBA) for firefighters has obtained European Norm 137 (EN137) approval, meaning the G1 SCBA complies with European safety, health and environmental protection requirements.
  

8:48 am On the Wires (:WIRES) :

• Cintas Corporation (CTAS) announced the appointment of Paul Adler as Vice President and Treasurer
  
• Entergy has extended a contract with Global Nuclear Fuel, a joint venture between GE (GE) and Hitachi (HTHIY) to fuel the utility's fleet of boiling water reactors through 2021. The agreement is for eight fuel reloads - two at each of Entergy's boiling water reactors: FitzPatrick, Grand Gulf, Pilgrim and River Bend. The total value of the contract extension is more than $100 million.
  
• KEMET Corporation (KEM) announced that Emilio Ghilardi will join KEMET as Executive Vice President of Global Sales and Marketing, effective July 1st,
  
• XBiotech (XBIT) announced that Kelly R. Thornburg has joined the company as Senior Vice President of Operations
  
• Speed Commerce, Inc. (SPDC) announced it has signed an agreement with Gildan Activewear Inc. (GIL) to build, deploy and maintain a new global ecommerce platform to support Gildan's B2B and B2C channels
• BioMarin Pharmaceutical (BMRN) announced the submission of a Marketing Authorization Application (MAA) to the European Medicines Agency (:EMA) for drisapersen, an investigational antisense oligonucleotide drug candidate for the treatment of the largest subset of Duchenne muscular dystrophy (DMD) amenable to single exon skipping.
  
• Amyris, Inc. (AMRS) announced the appointments of Caroline Hadfield as Senior Vice President Personal Care, effective June 15, 2015, and Cynthia Bryant as Senior Vice President Corporate Development & Collaborations, effective June 22, 2015
  
• Cadence Design Systems, Inc. (CDNS) announced that it is collaborating with TSMC on the development of an Internet of Things (IoT) intellectual property (IP) subsystem demonstration platform for TSMC's ultra-low power (:ULP) process.
  

8:47 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance: MTN -2.6%, PNY -1.5%

M&A news: SYT -0.9% (Monsanto reaffirms proposal for stock transaction valued at CHF449 per share)

Select EU related names showing weakness: SHPG -2.5%, DEO -2.1%, BCS -1.4%, RBS -1.4%, NVO -1%, ABB -0.6%

Other news: WLT -15.9% (ongoing credit concerns), TKC -7.1% (weakness in overseas trading on Turkey election results), AVP -0.9% (subsidiary announced they entered into a new $400 million five-year senior secured revolving credit facility)

Analyst comments: CRC -3.4% (initiated with a Sell at Goldman), LVS -3.2% (Hearing Sterne Agee CRT out cautious following weak Macau gross gaming rev), WYNN -3% (Hearing Sterne Agee CRT out cautious following weak Macau gross gaming rev), AAL -1.1% (downgraded to Mkt Perform from Outperform at Raymond James), UAL -0.9% (downgraded to Outperform from Strong Buy at Raymond James), RIO -0.8% (downgraded to Neutral from Outperform at Exane BNP Paribas), BEN -0.8% (initiated with a Sell at Goldman), DAL -0.8% (downgraded to Outperform from Strong Buy at Raymond James), OC -0.7% (downgraded to Neutral from Outperform at Macquarie)

8:46 am Diana Shipping Inc. has entered into a time charter contract with China Shipping Bulk Carrier for one of its Panamax dry bulk vessels, the m/v Calipso (DSX) : The gross charter rate is $6,000 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum fourteen (14) months. The charter is expected to commence tomorrow. This employment is anticipated to generate approximately US$1.8 million of gross revenue for the minimum scheduled period of the time charter.

8:44 am Capricor Therapeutics announces that the US FDA has cleared its Investigational New Drug Application for the clinical development of CAP-1002, to treat Duchenne Muscular Dystrophy (CAPR) :  

8:42 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: SHLD +4.2%, .

M&A news: DATE +3.6% (announces the receipt of an amended 'going private' proposal for $4.80/share or $7.20/ADS share, also reported earnings)

Other news: BLDP +13.3% (announces a $10 million deal to power 33 clean energy buses in China),FCSC +9.7% (and Intrexon (XON) announce positive in vitro pre-clinical data for FCX-007 to treat Recessive Dystrophic Epidermolysis Bullosa),PTBI +9.2% (licensed an AAV gene therapy for the treatment of Juvenile Batten disease from UNeMed ),MXL +8.3% (Soros Fund Mgmt disclosed 5.19% passive stake),DB +6% (appoints John Cryan as Co-CEO effective July 1, suceeding Jrgen Fitschen and Anshu Jain, also, upgraded to Neutral from Underperform at BofA/Merrill),VISN +5.3% (awarded exclusive concession contracts, to install and operate its on-bus free Wi-Fi network on 5K urban buses in Hangzhou city),AOSL +3% (commences $30 mln Modified Dutch Auction tender offer for its common shares),PANW +1.4% (China considering options to protect against hackers and may attempt to require foreign tech firms to disclose source coding),RAD +1.2% (favorable commentary on Friday's Mad Money),SUNE +0.9% (awarded an additional five solar photovoltaic projects in South Africa, totaling 371 MW)

Analyst comments: DSX +8% (positive Deutsche Bank comments and target raise to $10.50),GLPG +7.1% (initiated with a Overweight at Morgan Stanley),PQ +6.4% (upgraded to Outperform from Mkt Perform at Raymond James),INVN +1% (upgraded to Outperform from Market Perform at Northland Capital),TSLA +0.8% (target raised to $335 from $275 at Robert W. Baird),WMT +0.5% (upgraded to Strong Buy from Outperform at Raymond James)

8:36 am Comverse files to delay Q1 report to June 15 due to accounting for recent deals (CNSI) : Co has filed a Form 12B-25 with the SEC indicating that it will require up to an additional five days to report its financial results for the first fiscal quarter of 2015 ended April 30, 2015. Preparation of the quarterly report has been delayed by the Company's focus on its outsourcing transaction with Tech Mahindra Limited, and its agreement to sell its BSS business unit to Amdocs Limited, both announced late in the first quarter.

• The co now intends to hold a conference call to review its first quarter results on Monday, June 15, 2015 at 8:00 am ET.
  

8:36 am MCG Capital determines that the revised proposal to acquire MCG made by HC2 Holdings (HCHC), does not constitute superior proposal over that offered by PennantPark Floating Rate Capital (PFLT) (MCGC) : Co announced today that its Board of Directors, after thorough consideration and consultation with its legal and financial advisors, has determined that the proposal to acquire MCG made by HC2 Holdings, Inc., as revised, does not constitute, and is not reasonably likely to lead to, a superior proposal under MCG's existing merger agreement with PennantPark Floating Rate Capital Ltd. (PFLT). The Board has unanimously affirmed its commitment to the pending merger with PFLT, and its recommendation that MCG stockholders vote in favor of the PFLT transaction.

• Board stated: "This stands in contrast to the relative certainty of value we believe is offered to our shareholders by the existing transaction with PFLT if the required shareholder approvals are obtained, and the significant uncompensated harm in diminution of value that our shareholders would bear if MCG were to pursue but fail to complete a transaction with HC2. We remain committed to maximizing shareholder value and we look forward to hearing from our shareholders throughout this process."
  

8:34 am Bio-Reference Labs misses by $0.05, misses on revs -- bei9ng acquired by OPK (BRLI) : Reports Q2 (Apr) earnings of $0.38 per share, $0.05 worse than the Capital IQ Consensus of $0.43; revenues rose 11.2% year/year to $224 mln vs the $227.33 mln consensus. 

• "The Company encountered less than satisfactory results from our California operation. Frankly, we did not grow commensurate with our investment and the changing reimbursement environment in that local market. We believe that the effect of increasing infrastructure expenses with lower than anticipated sales had a negative effect on earnings of $.05 per share. We are focused on improving our results as we take a thoughtful approach moving into the second half of the year."
  
• Co being acquired by OPK -- holders of BRLI will receive 2.75 shares of OPKO common stock for each share of BRLI common stock.

8:33 am Cerus announces that Richard J. Benjamin, MD PhD has been appointed as chief medical officer, effective July 13, 2015 (CERS) :

• Co announced that Richard J. Benjamin, MD PhD has been appointed as chief medical officer of Cerus, effective July 13, 2015. Dr. Benjamin joins Cerus from the American Red Cross where, as the chief medical officer, he oversaw the organization's donor and patient safety issues related to blood collection and transfusion.
• Benjamin served as Chief Medical Officer of the American Red Cross since 2006. He is a board member and regional director for North America for the International Society of Blood Transfusion, as well as an active member of the AABB.
  

8:32 am Alexandria RE incrases quarterly dividend to $0.77/share from $0.74/share (ARE) :  

8:32 am Solar Power announces a strategic cooperation with Kong Sun Holdings company, to provide finance lease services to Kong Sun's PV power system projects in China (SOPW) : Under the strategic cooperation agreement, Solar Power will provide Kong Sun with an aggregate finance lease credit line in the amount of RMB 1 billion for its PV power projects in China. The strategic cooperation agreement has an initial term of two years and may be extended for one year upon mutual agreement between the parties.

8:31 am Xenoport: HORIZANT (gabapentin enacarbil) included in new expert recommendations on prevention and treatment of RLS augmentation (XNPT) : Co reports that new expert recommendations for the prevention and treatment of augmentation in patients suffering from restless legs syndrome (:RLS) list gabapentin enacarbil as a first-line therapy with a lower risk of developing augmentation. In addition, gabapentin enacarbil is listed as an alternative treatment for the management of patients suffering from augmentation who were previously treated with dopaminergic medication. The recommendations were created by the combined Task Force from the International RLS Study Group (:IRLSSG), the European RLS Study Group (:EURLSSG) and the RLS Foundation.

8:31 am Compass Group acquires Manitoba Harvest Hemp Foods for C$132.5 mln (CODI) : Co announces it entered into an agreement to acquire Fresh Hemp Foods. The purchase price for Manitoba Harvest is based on a total enterprise value of C$132.5 mln and will also include working capital and certain other adjustments upon closing.

•  Manitoba Harvest generated net revenues of ~C$44.9 mln and Adjusted EBITDA of ~C$6.4 mln for the last twelve months ending May 31, 2015, representing year-over-year growth of 28.5% and 59.4%, respectively. The Co generated Adjusted EBITDA for the six months ended May 31, 2015 of ~C$5.0 mln. 
• CODI's initial equity ownership in Manitoba Harvest as a result of the transaction will be ~87% on a primary basis. Mike Fata, CEO of Manitoba Harvest; Clif White Road Investments LLC, an existing shareholder; and certain other management team members will re-invest alongside CODI. The acquisition is expected to close in the next 45 days, subject to customary closing conditions.
  

8:31 am Landmark Infrastructure Partners LP expands revolving credit facility to $250 million (LMRK) : Co announces that it has signed an amendment to its revolving credit facility, increasing the Partnership's borrowing capacity by $60 million to $250 million.

8:30 am KC Southern and Sasol sign long-term agreement to grow petrochemical business in gulf region (KSU) : Co announces its U.S. subsidiary, The Kansas City Southern Railway Co, has reached an agreement with Sasol (SSL) for the construction and long-term lease of a storage-in-transit rail yard to support Sasol's new ethane cracker and derivatives project in Lake Charles, La. In addition to building the SIT yard for lease to Sasol, KCSR will replace and expand its existing rail car classification yard in Mossville, La.

8:29 am On the Wires (:WIRES) :

• Resolute Energy Corporation (REN) announced that it has engaged Petrie Partners, LLC to market for sale its Hilight Field property in the Powder River Basin. The marketing of Hilight Field is consistent with previous announcements made by the Company that it would pursue additional non-core asset sales to reduce leverage and enhance liquidity.
  
• Kansas City, MO., and Cisco (CSCO) signed an agreement to deploy a Smart+Connected City framework for coverage within city limits
  
• Gigamon (GIMO) announced that JDSU (JDSU) is developing closed loop integration plugins that support Gigamon's Software Defined Visibility
  
• Broadcom Corporation (BRCM) announced it has licensed MIFARE, a widely deployed protocol for contactless ticketing, transportation and access applications.
  
• AbbVie (ABBV) announced it will present data on its investigational hematological malignancy medicines at the 20th European Hematology Association Annual Congress (:EHA), June 11-14, in Vienna.
  
• The University of Tennessee (:UT) Medical Center has extended its partnership with Premier (PINC) for an additional five years, and expanded its relationship to utilize the co's performance improvement advisory services.
  
• Trovagene, Inc. (TROV) announced that clinical data featuring its Precision Cancer Monitoring SM platform will be presented at the 2015 Cancer Markers and Liquid Biopsies conference in San Diego, CA, and at the AACR Precision Medicine Series: Integrating Clinical Genomics and Cancer Therapy in Salt Lake City, UT
  
• TeleCommunication Systems (TSYS) announced a partnership with Symantec, enabling TCS to provide financial services firms, online gaming companies and other organizations a tool for identifying fraud, confirming location compliance, and preventing "false positive" denials of services. The combined TCS Trusted Location and Symantec's Mobility Risk Detection technology will aim to provide a comprehensive solution for avoiding fraud. TCS will make the solution available in the third quarter of 2015.
  
• Navy Exchange Service Command's Telecommunications Program Office announced it selected ViaSat Inc. (VSAT) to upgrade its current wireless internet and voice services and provide a global enterprise-wide Wi-Fi system to Navy Morale, Welfare and Recreation facilities, Unaccompanied Housing, Navy Lodges and Navy Gateway Inns & Suites
  

8:25 am S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +2.90. (:WRAPX) : U.S. equity futures remain near their flat lines following a range-bound night. As mentioned earlier, there has been no change with regard to Greece and Germany's Tagesspiegel has recently quoted Greek Finance Minister Yanis Varoufakis as saying creditors are "not interested in a deal." Furthermore, Mr. Varoufakis has accused Greece's creditors of sabotaging the debt talks.

The recent comments have not caused much movement in the market with key European indices remaining in the red. Also of note, selling in Germany's 10-yr bund has pushed up its yield nearly three basis points to 0.88%.

8:21 am European Markets Update: FTSE -0.1%, DAX -0.5%, CAC -0.6% (:SUMRX) : Major European indices trade lower across the board amid continued lack of progress between Greece and its creditors.

• Economic data was limited: 
• Eurozone June Sentix Investor Confidence fell to 17.1 from 19.6 (expected 18.7) 
• Germany's Industrial Production +0.9% month-over-month (expected 0.5%; prior -0.4%) while April Trade surplus expanded to EUR22.30 billion from EUR19.40 billion (expected EUR19.40 billion) as imports -1.3% (expected 0.5%; prior 2.4%) and exports +1.9% (consensus 0.1%; last 1.3%) 

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• UK's FTSE is lower by 0.1% with miners on the defensive. Anglo American, BHP Billiton, and Rio Tinto are all down near 1.3% apiece. Consumer names outperform with Diageo trading higher by 6.6% amid takeover chatter. 
• Germany's DAX has given up 0.5% with exporters Daimler and Continental losing 1.2% and 2.0%, respectively. On the upside, Deutsche Bank has jumped 5.3% after co-chief executives Juergen Fitschen and Anshu Jain resigned. 
• France's CAC is down 0.6% with all but three names trading in the red. Total is the weakest performer, down 3.0%. Meanwhile, financials trade a bit ahead of the broader market with BNP Paribas and Societe Generale down 0.4% and 0.1%, respectively.
  

8:18 am Rosetta Stone: Shareholder Osmium Partners says it supports an evaluation of co's strategic alternatives, stating it believes a strategic buyer should pay at least $16/share (RST) : Shareholder's letter stated:

• "Osmium Partners is the second largest shareholder of Rosetta Stone owning approximately 9.7% of the shares outstanding. We are not surprised by the current stock price of the Company given the recent changes in strategy, management and new Board leadership. However, we believe the Company is significantly undervalued given the business model shift, value of the underlying assets, and recent comparable transactions. Osmium believes Rosetta Stone's shares could transact to a strategic buyer at a price of $16 per share or better. Therefore, Osmium encourages an evaluation of strategic alternatives. 
• We appreciate the recent actions that the Board of Directors of the Company has taken to focus the Company on its most valuable assets to drive shareholder value. Rosetta Stone appears to be at a key inflection point. We are excited to be shareholders with an engaged team that has a renewed focus on the serious learners, a customer segment which purchase longer-term recurring subscriptions.
  

8:16 am Fulton Fincl announces plans to offer $150 mln in 4.50% subordinated notes due 2024 (FULT) : Co intends to use the net proceeds of this offering to fund the anticipated redemption of its 6.29% Junior Subordinated Deferrable Interest Debt Securities due 2036

8:12 am European Yields (BONDX) : Eurozone Yields Inch up

• Sovereign yields in the Eurozone moved slightly higher this morning after a second leg in this spring's bond sell-off hit sovereign debt hard last week
• German Industrial Production grew a better-than-expected 0.9% m/m in April versus a 0.4% fall in March
  
• The German trade surplus for April also beat expectations at 22.3 bln euro versus 19.4 bln in March
  
• The Greek 10-year note yield shot higher as convergence between the negotiating positions of the Greek government and its creditors remains very slow. Greek Prime Minister Alexis Tsipras gave a speech to Parliament on Friday in which he said that Greece's solution could not be based on impossible targets for reducing debt. Tsipras also said that an agreement was "closer than ever"
• Yanis Varoufakis, the Greek finance minister, met with his German counterpart, Wolfgang Schauble, today, but nothing came of it except for an "extremely friendly" environment between the two
• Yield Check:
• France, 10-yr OAT: +3 bps to 1.19%
• Germany, 10-yr Bund: +2 bps to 0.88%
• Greece, 10-yr note: +37 bps to 11.32%
• Italy, 10-yr BTP: +1 bp to 2.25%
• Portugal, 10-yr note: +3 bps to 2.97%
• Spain, 10-yr Bono: +4 bps to 2.25%
• U.K., 10-yr Gilt: -2 bps to 2.08%

8:09 am Vail Resorts misses by $0.13, misses on revs; 2015-2016 season pass sales +12% or +20% in dollars (MTN) : Reports Q3 (Apr) earnings of $3.56 per share, $0.13 worse than the Capital IQ Consensus of $3.69; revenues rose 6.6% year/year to $579 mln vs the $591.87 mln consensus. 

• "Pass sales through May 26, 2015 for the upcoming 2015/2016 ski season, increased ~12% in units and ~20% in sales dollars, as compared to the prior year period through May 27, 2014. These season pass results represent another record-breaking effort and are driven by the compelling value proposition offered by our season pass products, our successful targeted marketing efforts and the transformational changes we are making in Park City for the upcoming season. Our results also include very strong growth in our destination markets, which represented 43% of our total pass sales, up from 30% just four years ago."
  

8:09 am ANSYS to acquire Gear Design Solutions, a provider of big data analytics; terms not disclosed (ANSS) :  

8:07 am AMETEK to acquire the Surface Inspection Systems Division of Cognex (CGNX) for ~$160 mln (AME) : The business has annual revenues of $60 million.  The closing of the transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals.  

8:06 am Investment Tech announces May U.S. trading volumes, showing total U.S. trading volume was 3.6 bln shares and average daily volume was 182 mln shares (ITG) : This compares to 3.9 billion shares and ADV of 184 million shares in April 2015 and 3.0 billion shares and ADV of 144 million shares in May 2014.

8:06 am Stifel Financial confirms it will acquire Barclays' (BCS) Wealth and Investment Management, Americas (SF) : SF announced that it will acquire Barclays' Wealth and Investment Management, Americas franchise in the U.S.

• As of May 31, 2015, Barclays had approximately 180 financial advisors in the U.S. managing approximately $56 billion in total client assets. In addition, Barclays' business had on balance sheet assets of approximately $1.4 billion and client loans of approximately $1.5 billion held through Barclays' clearing firm. 
• Barclays' advisory business is concentrated in New York and 11 other major metropolitan cities in the U.S. 
• As part of this agreement, Stifel will be the U.S. private wealth distribution partner for certain of Barclays' equities and credit new issue securities in the U.S.
  

8:06 am Tobira Therapeutics completes patient recruitment for CENTAUR Phase 2b study of Cenicriviroc in NASH with Liver Fibrosis; Results of the one-year primary endpoint are anticipated to be announced in mid-2016 (TBRA) : Co announced that it has completed recruitment for the Phase 2b CENTAUR study. CENTAUR is a global, double blind, placebo controlled, Phase 2b clinical trial evaluating the treatment effects of cenicriviroc (CVC) versus placebo in patients with non-alcoholic steatohepatitis (NASH) and liver fibrosis at high risk of progressive disease. Results of the one-year primary endpoint are anticipated to be announced in mid-2016. Tobira plans to submit further detail regarding study demographics for presentation at an upcoming scientific conference. The primary endpoint of the CENTAUR study is a two-point improvement in NAS (NAFLD Activity Score) without progression of fibrosis.

8:05 am Idera Pharma enters into a strategic clinical research alliance with University of Texas MD Anderson Cancer Center (IDRA) : Co announced strategic clinical research alliance with The University of Texas MD Anderson Cancer Center to advance clinical development of intratumoral TLR9 agonist in combination with checkpoint inhibitors. IMO-2125 is a TLR9 agonist which has been evaluated subcutaneously in over 80 human subjects, was well tolerated, and was shown to induce immune responses.

• The company intends to initiate the first trial of the research alliance, a Phase 1/2 study to assess the safety and efficacy of Intratumoral IMO-2125 in combination with ipilimumab (a CTLA4 antibody) in patients with metastatic melanoma.
  

8:05 am Lion Biotech Names Molly Henderson Chief Financial Officer (LBIO) : Co announced the appointment of Molly Henderson, as chief financial officer, effective immediately. Previously, Ms. Henderson served as the chief financial officer of VirtualScopics, Inc. from 2002 to 2008, and as chief business and financial officer and senior vice president from 2008 to 2013.

8:04 am VisionChina Media announces that it has been awarded exclusive concession contracts, to install and operate its on-bus free Wi-Fi network on 5K urban buses in Hangzhou city (VISN) :

• Co announced that it has been awarded exclusive concession contracts to install and operate its on-bus free Wi-Fi network on 5,000 urban buses in Hangzhou city, the provincial capital of Zhejiang province, and 1,614 urban buses and 58 bus rapid transit stations in Jinan city, the provincial capital of Shandong province.
• With these new concession contracts, VisionChina becomes the leading urban mass transit Wi-Fi provider in both cities, and its national network coverage expands to 20 cities and ~42,000 buses, up from 18 cities and ~35,000 buses as of the date of the Company's previous press release on June 4, 2015.
  

8:04 am Netsol announces that the joint venture BNPP-Geely, has chosen its NFS Wholesale Finance System for its software platform to manage auto dealership operations and financing activities. (NTWK) :  

8:04 am Carmike Cinemas announces proposed refinancing of senior secured notes (CKEC) : Co announces plans to offer $230 mln in aggregate principal amount of Senior Secured Notes due 2023. Co also expects to refinance its existing credit facility with a new $50 mln senior secured credit facility. Co intends to use the proceeds of the offering and cash on hand to redeem all $210 mln in aggregate principal amount of its 7.375% Senior Secured Notes due 2019, and to pay related fees and expenses.

8:03 am Energy Transfer provides details on previously announced revolution project; will build major new rich gas gathering, processing plant, and fractionation facilities (ETP) : ETP provided further details on its previously announced Revolution Project that will significantly increase its operations in the growing Marcellus and Upper Devonian production areas of Western Pennsylvania.

• ETP has entered into long-term gas gathering, processing, and fractionation agreements with EdgeMarc Energy. 
• To facilitate these agreements, ETP has purchased approximately twenty miles of high pressure pipeline from EdgeMarc and will build a new cryogenic gas processing plant, a new fractionator and additional gas gathering pipelines.
  
• The overall expected capital cost for the pipeline system and the associated facilities, which will be supported by long-term fee-based agreements, is approximately $1.5 billion.
  

8:03 am Celator Pharma announces that an investigator-initiated clinical study evaluating CPX-351, has met the efficacy and safety criteria to expand the 32units/m2 dose cohort (CPXX) : Co announces that an investigator-initiated clinical study evaluating CPX-351 Liposome Injection in patients with untreated high-risk myelodysplastic syndrome (:MDS) or acute myeloid leukemia (:AML), at high risk of treatment-related mortality has met the efficacy and safety criteria to expand the 32units/m2 dose cohort. "As we await the results from the ongoing Phase 3 study in patients with secondary AML, it is important to evaluate the potential benefit of CPX-351 in other patient populations."

8:02 am OSI Systems awarded $6 million order for patient monitoring solutions (OSIS) : Co announced that its Healthcare division, Spacelabs Healthcare, has been awarded an ~$6 million order from a U.S. hospital to provide patient monitoring and connectivity solutions, including the portable monitor, qube, and central station, Xprezzon and Xhibit platforms.

8:02 am KBR announces that it has been awarded an alliance contract, by the Victorian Government for railroad crossing removal projects in Victoria, Australia (KBR) : Under the terms of the contract, KBR and John Holland will remove four railroad crossings in Victoria. This work is expected to be performed over three years, with KBR providing design services for the railroad crossing removals and associated works in an integrated alliance with John Holland, VicRoads, Metro Trains Melbourne and Public Transport Victoria.

• Expected revenue from the contract will be included in KBR's second quarter 2015 backlog of unfilled orders for its Engineering & Construction business line. Work on the projects has commenced and is expected to be completed in the first quarter of 2017.
  

8:02 am Senior Housing, Hospitality Properties Trust (HPT), Select Income REIT (SIR) and Government Properties Income Trust (GOV) have acquire combined economic ownership of ~half of Reit Management & Research (SNH) : Senior Housing Properties (SNH), Hospitality Properties Trust (HPT), Select Income REIT (SIR) and Government Properties Income Trust (GOV) announced that they have acquired combined economic ownership of approximately half of Reit Management & Research LLC. Each of the REITs is managed by RMR and, simultaneously with the REITs' acquisition of ownership in RMR, the management agreements with RMR were amended and extended for 20 year terms. The REITs' ownership in RMR is held indirectly through a new holding company of RMR. Pursuant to the agreements entered for this transaction, the REITs have agreed to distribute approximately half of the RMR INC shares held by them to their shareholders as a special dividend, and RMR INC has agreed to facilitate this by filing a registration statement with the SEC to register the RMR INC shares to be distributed and by seeking a listing of those shares on a national stock exchange upon the registration statement being declared effective by the SEC.

8:01 am SunEdison announces an additional five solar photovoltaic projects in South Africa, totaling 371 MW (SUNE) : Co announced it has been awarded an additional five solar photovoltaic projects in South Africa, totaling 371 megawatts (MW) DC. This award stems from the extended capacity announcement for the fourth bid round of the Renewable Energy IPP Procurement (:REIPPP) Programme organized by South Africa's Department of Energy (:DOE), in which SunEdison previously announced that it had been awarded an 86 MW solar project. 

8:01 am ServiceSource names Brian Delaney as Chief Operating Officer (SREV) : Co names operations leadership veteran Brian Delaney as the co's new Chief Operating Officer. Delaney, whose primary responsibility will be to oversee ServiceSource's global Managed Services delivery teams, will now be taking on his fourth COO role during his 25-year career.

8:01 am Collegium Pharmaceutical announces issuance of u.S. Patent covering DeteRx(R) - an abuse-deterrent, extended-release technology platform (COLL) : Co announces that U.S. Patent No. 9,044,398 was issued by the U.S. Patent and Trademark Office for its patent application entitled, "Abuse-deterrent Pharmaceutical Compositions of Opioids and Other Drugs". The issued patent covers the DETERx technology platform and Collegium's lead product candidate, Xtampza ER. The claims provide additional coverage for multiple opioid molecules, as well as non-opioid drugs prone to abuse that are developed with the DETERx technology platform.

8:01 am Avon Products enters into a new $400 million five-year senior secured revolving credit facility (AVP) : Co announces that one of its domestic subsidiaries entered into a new $400 million five-year senior secured revolving credit facility. It replaces the previous $1 billion unsecured revolving credit facility.

8:00 am TECO Energy Subsidiary enters into Letter of Intent with new buyer for TECO Coal (TE) : A subsidiary of TECO Energy has entered into a non-binding letter of intent with a new buyer for the sale of all of its interest in TECO Coal LLC.

• The sales agreement with Kentucky-based Cambrian Coal Corp. did not close on June 5, 2015, because the buyer could not satisfy the conditions precedent to closing, and that agreement is now terminable by either party. 
• The new buyer does not expect to require external financing.
  
• The transaction would be subject to the negotiation of a definitive agreement and obtaining third-party consents, and the parties currently expect to close on the sale on or before July 3.
  

7:59 am McDonald's May comps fell 0.3%, US comps -2.2%, Europe -2.3%, APMEA -3.2% (MCD) : Global comparable sales decreased 0.3% in May.

• U.S. comparable sales decreased 2.2% in May reflecting negative customer traffic and ongoing competitive activity. To address its current challenges, the U.S. is working to enhance the customer experience with exciting limited-time menu and value options while testing opportunities to expand convenience, personalization and daypart availability to modernize the business. 
• Europe's comparable sales rose 2.3% in May as strong results in the U.K. and slightly positive performance in Germany and France were partly offset by slightly negative results in Russia. 
• In APMEA, comparable sales declined 3.2% in May as strong performance in Australia was more than offset by continued challenges in Japan and negative performance in China. Strengthening McDonald's quality and value perceptions remains a top priority for APMEA.

Systemwide sales for the month decreased 7.2%, or increased 1.8% in constant currencies.

Co reaffirms it will discontinue reporting monthly sales -- co will report Q3 on July 23.

7:58 am S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: +0.40. (:WRAPX) : U.S. equity futures trade little changed amid cautious action overseas. The S&P 500 futures hover one point below fair value after trading within a five-point range throughout the night.

The new trading week has started on a quiet note with markets in Asia enduring a mixed session while European indices trade in the red as another day goes by without any real progress on Greece.

Domestically, Treasuries hold slim gains with the 10-yr yield down two basis points at 2.39%.

In U.S. corporate news of note:

• Delta Air Lines (DAL 42.55, -0.35): -0.8% after Raymond James downgraded the stock to 'Outperform' from 'Strong Buy.' 
• Sears Holdings (SHLD 41.90, +1.16): +2.9% after beating bottom-line estimates. 
• Wal-Mart (WMT 73.62, +0.56): +0.8% after Raymond James upgraded the stock to 'Strong Buy' from 'Outperform.' 

Reviewing overnight developments:

• Asian markets ended mixed. China's Shanghai Composite +2.2%, Hong Kong's Hang Seng +0.2%, and Japan's Nikkei ended flat. 
  • In economic data: 
    • China's May Trade Balance $59.49 bln (expected $44.95 bln; prior $34.13 bln) as Exports -2.5% (expected -5.0%; prior -6.4%) and Imports -17.6% (expected -10.7%; -16.2%) 
    • Japan's April Adjusted Current Account Balance JPY 1.27 tln (expected JPY 1.45 tln; prior JPY 2.07 tln), May Bank Lending +2.6% year-over-year (expected +2.6%; prior +2.6%), and Q1 GDP Revised +1.0% quarter-over-quarter (expected +0.7%; prior +0.6%); +3.9% year-over-year (expected +2.7%; prior +2.4%) 
  • In news: 
    • China's Shanghai Composite climbed to a new seven-year high despite the tightening of rules for margin trading and short selling on Friday

• Major European indices trade lower across the board. France's CAC -0.8%, Germany's DAX -0.5%, and UK's FTSE -0.2%. Elsewhere, Italy's MIB -0.3% and Spain's IBEX -0.8%
  • Economic data was limited: 
    • Eurozone June Sentix Investor Confidence fell to 17.1 from 19.6 (expected 18.7) 
    • Germany's Industrial Production +0.9% month-over-month (expected 0.5%; prior -0.4%) while April Trade surplus expanded to EUR22.30 billion from EUR19.40 billion (expected EUR19.40 billion) as imports -1.3% (expected 0.5%; prior 2.4%) and exports +1.9% (consensus 0.1%; last 1.3%) 
  • Among news of note: 
    • The weekend did not feature any new developments with regard to Greece as the country's debt agreement with its creditors remains elusive

7:56 am Amaya (Canadian owner of the PokerStars and Full Tilt brands) lists on the Nasdaq, effective today (:AYA) :  

7:49 am On the Wires (:WIRES) :

• Perma-Fix Environmental Services, Inc. (PESI) announced that Perma-Fix Medical SA, a subsidiary of the company, completed another successful scale-up of its process to produce Technetium-99m (Tc-99m) from Molybdenum-99 (Mo-99). The tests confirmed that the Company's proprietary resins could withstand higher levels of radiation, up to 4 curies, while producing clinically useful doses of Tc-99m
  
• Amicus Therapeutics (FOLD) announced the appointment of two new senior members of the commercial and executive team. Mark Baldry, a biopharmaceutical brand strategist with senior-level experience at Biogen Inc (BIIB). and Shire plc (SHPG), has joined the Company as Vice President of Global Marketing. Willem van Weperen, most recently the former Chief Commercial Officer of Prosensa Holding N.V. (RNA), has been appointed Regional Vice President and Country Manager, International. Additionally, Hung Do, Ph.D. has been promoted to Chief Science Officer.
  
• Spirit AeroSystems Inc. (SPR) announced several senior leadership changes. Duane Hawkins has been named senior vice president and general manager, Boeing, Business and Regional Jet Programs. He will also continue to oversee Spirit Defense. Ron Rabe joins the company as senior vice president of Operations, taking over that role from Hawkins. John Pilla has been named senior vice president of Engineering and Chief Technology Officer. Pilla has served in several top leadership and engineering positions at Spirit, most recently overseeing all Spirit work on Airbus Programs. Michelle J. Lohmeier will join the company as senior vice president and general manager, Airbus Programs
  
• IMAX Corporation (IMAX) announced the appointment of Jason Brenek as president of its newly-formed Home Entertainment division
  
• Illumina, Inc. (ILMN) announced the formation of the Global Fertility Alliance, a new collaboration to advance fertility technologies and processes within the assisted reproductive treatmentlaboratory. The alliance is a partnership between Illumina, Merck KGaA, Darmstadt, Germany, and Genea, which develops innovative fertility technologies. The alliance aims to improve the consistency in ART and address the need for more standardization of fertility processes within the ART laboratory
  

7:48 am WTI crude oil futures start the day off in the red. Front-month (July) WTI crude oil futures are currently -1% at $58.52/barrel (:COMDX) :  

7:33 am Overnight Treasury Summary (BONDX) : Governments Bounce While Europe Treads Water

• The U.S. Treasury complex is seeing mild gains overnight, with the 10-year note outperforming. European sovereigns are little changed after a sharp re-pricing last week, except for Greece, where the 10-year note yield is up 39 bps to 11.33%
• Yield Check:
• 2-yr: unch at 0.72%
• 5-yr: -1 bp to 1.74%
• 10-yr: -2 bps to 2.39%
• 30-yr: -1 bp to 3.11%

• International News:
• Greece is revising its bailout proposal today but seems to be taking very small steps in the direction of the creditors' position
• The French finance minister, Michel Sapin, downplayed the potential of contagion resulting from Greek exit from the eurozone
• Industrial Production in Germany grew 0.9% m/m in April, better than estimates and the 0.4% decline in March
• China's trade surplus blew out estimates and came close to a record in May, rising to $59.49 bln from $34.13 bln in April
• A fall in imports occurred despite rising commodity prices, leading to concern about a sharp fall in domestic demand. More economic data out of China this week will provide a clearer view of aggregate demand
• Japanese GDP growth for Q1 2015 was revised up to +3.9% from a preliminary reading of +2.4%. Q4 2014 growth was +1.5%. The growth came from higher capital spending and exports

• Commodities:
• WTI crude: -0.74% to $58.69/bbl
• Gold: +0.46% to 1,173.50
• Copper: -0.22% to $2.6865/lb.

• Currencies:
• EUR/USD: +0.26% to $1.1141
• USD/JPY: -0.25% to 125.29

• There are no scheduled market-moving events today
  

7:32 am Papa Murphy's announced that its 2015 Q2 financial results will include a one-time non-cash charge of ~$2.7 million for a write down of interests in Project Pie (FRSH) : Co announced that its 2015 second quarter financial results will include a one-time non-cash charge of approximately $2.7 million, net of tax and noncontrolling interests, reflecting the write-down in the carrying value of the Company's interests in the fast-casual pizza concept Project Pie, LLC ahead of the previously announced proposed divestiture. The write-down reduces the carrying value of the Company's interests to the expected net realizable value based on the circumstances and capital needs of Project Pie. The Company's decision to divest its interests in Project Pie is driven by the desire to focus efforts on the growth opportunities inside the core Papa Murphy's brand.

7:32 am Chimerix announced it has completed targeted enrollment for its Brincidofovir Phase 3 SUPPRESS Trial, with topline data expected in early 2016 (CMRX) :  

7:31 am TerraForm Power subsidiary TerraForm Power Operating announces an offering of up to $150 million in 5.875% senior notes due 2023 (TERP) : The Notes will be issued under the same indenture as the $800 million aggregate principal amount of the Issuer's 5.875% senior notes due 2023 issued on January 28, 2015.

• The Notes will be senior obligations of the Issuer and will be guaranteed by the Issuer's direct parent, TerraForm Power, LLC, and each of the Issuer's existing and future subsidiaries that guarantee its senior secured credit facility. 
• Co intends to use the net proceeds from the offering together with cash on hand to repay borrowings under the Issuer's revolving credit facility.
  

7:31 am Advaxis prelim data presented at ACVIM demonstrate that ADXS-HER2, in combo with palliative radiation, delayed tumor progression and prolonged overall survival in a group of 12 pet dogs with treatment nave spontaneous OSA (ADXS) : Co announces results from an ongoing clinical study of ADXS-HER2 in canine osteosarcoma (:OSA), were presented by principal investigator Nicola J. Mason, B.Vet.Med., Ph.D., DACVIM, Associate Professor of Medicine at U Penn School of Veterinary Medicine, at the 2015 American College of Veterinary Internal Medicine (:ACVIM) Forum in Indianapolis, Ind., on June 6, 2015.

• The preliminary data presented at ACVIM demonstrate that ADXS-HER2, in combination with palliative radiation, delayed tumor progression and prolonged overall survival in a group of 12 pet dogs with treatment nave spontaneous OSA. Repeat doses of ADXS-HER2 were well tolerated with no systemic or cardiac toxicity. Of the 12 canine patients recruited to date, seven are alive with current survival times ranging from 66 to 479 days. 
• The median survival time of dogs receiving palliative radiation plus ADXS-HER2 has not been reached. The median time to progression of these 12 canine patients is 238 days. The reported median survival time for historical control dogs with OSA that do not undergo amputation but instead receive the same palliative radiation protocol without ADXS-HER2 is 136 days.
  

7:31 am Net 1 UEPS Techs announces the conclusion of its SEC Investigation, whereby the SEC does not intend to recommend an enforcement action (UEPS) : announced that it has received a letter from the Foreign Corrupt Practices Act unit of the Division of Enforcement of the U.S. Securities and Exchange Commission ("SEC"), advising the Company: "We have concluded the investigation as to Net 1 UEPS Technologies, Inc. Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against Net 1 UEPS Technologies, Inc."

• The separate investigation into these matters initiated by Net1 itself with the South African Police's Commercial Crimes unit is expected to be concluded shortly. 
• It is the Company's understanding that the DOJ investigation remains open at this time.
  

7:30 am Ballard Power announces a $10 million deal to power 33 clean energy buses in China (BLDP) : Co announced that it has signed definitive license and supply agreements with each of Nantong Zehe New Energy Technology Co., Ltd. and Guangdong Synergy Hydrogen Power Technology Co., Ltd. to provide fuel cell Power Products and Technology Solutions to support the planned deployment of an initial 33 fuel cell-powered buses in two Chinese cities. The deal has an estimated value of $10 million, the majority of which is expected to be recognized in 2015.

7:29 am On the Wires (:WIRES) :

• Farm Bureau Property and Casualty Insurance Company announced it has gone into production with claims software from Accenture (ACN)
  
• Conatus Pharmaceuticals (CNAT) announced the appointment of Jean L. Chan, M.D., as Vice President, Clinical Development
  
• Attunity (ATTU) announced that one of the largest online travel agencies in the world has selected Attunity Visibility to rebalance and modernize its data warehouse
  
• Canadian Solar Inc. (CSIQ) announced that it closed a $53 million project financing facility with Investec Bank, for a portfolio of four solar power plants with an installed capacity totaling 40.2 megawatts.
  
• RedHill Biopharma Ltd. (RDHL) announced that the last patient enrolled in the first Phase III study with RHB-105 for the treatment of Helicobacter pylori (H. pylori) bacterial infection has completed the treatment course with the investigational product, RHB-105, for primary endpoint evaluation. Top-line results from this study are expected in the third week of June 2015.
  

7:23 am Dyax announces clinical data from its DX-2930 Phase 1b study, at the European Academy of Allergy and Clinical Immunology Annual Congress (DYAX) :

• The Phase 1b study results demonstrated that DX-2930 was well tolerated at all dose levels. There were no deaths or subject discontinuations due to an adverse event. There were no serious adverse events in subjects treated with DX-2930 and no evidence of dose-limiting toxicity. There was no safety signal in treatment-emergent adverse events, clinical laboratory results, vital signs, or electrocardiograms. Subcutaneous injection was well tolerated. 
• Pharmacokinetic results demonstrated that DX-2930 has linear, dose-dependent exposure and a mean elimination half-life of approximately 14 days. Pharmacodynamic results from two different exploratory biomarker assays confirmed ex vivo plasma kallikrein inhibition in a dose- and time-dependent manner. 
• Primary proof-of-concept efficacy analyses were based on subjects in the 300 mg, 400 mg, and placebo dose groups who reported having at least 2 attacks in the 3 months prior to study entry. During the pre-specified, primary efficacy interval of 6 weeks (from days 8 to 50; corresponding to peak drug level), the HAE attack rate was 0 in the 300 mg group and 0.045 attacks per week in the 400 mg group, compared to 0.37 attacks per week in the placebo group. This resulted in a 100% reduction for the 300 mg dose group as compared to placebo (P
• During this primary efficacy interval, 100% of subjects in the 300 mg group (P=0.026) and 82% of subjects in the 400 mg group (P=0.030) were attack-free compared with 27% of subjects in the placebo group.
  

7:21 am eBay gives guidance for eBay Marketplace and Paypal businesses ahead of spin off (EBAY) :

• Ebay: 
• Sees FY15 sales +0-5% ex-EX, with 32-34% operating margin; sees +0-5% rev growth ex-FX in FY16 with 31-35% op. margin and EPS growth faster than revenue. 
• Long term sees top line growth flat margins and EPS growth faster than rev. 
• PayPal: 
• Sees FY15 FX-neutral rev +15-18%, with non-GAAP operating margin +0-100 bps to 20-21%, mid-20% TPV growth and $1.6-1.8 bln FCF growth. 
• Sees medium term FX-neutral rev growth ~15%; non-GAAP op. margin stable to growing,

7:14 am Titan Pharma: Braeburn Pharmaceuticals announces positive results from its Phase 3 study of Probuphine to treat opioid addiction (TTNP) : Co reported positive topline results from the Phase 3 double-blind, double-dummy clinical study of Probuphine, the investigational subdermal implant containing buprenorphine HCl for the long-term maintenance treatment of opioid addiction. The study met the pre-specified primary endpoint of non-inferiority, as well as all secondary efficacy endpoints, which were established in consultation with the U.S. Food and Drug Administration (:FDA) prior to initiating the study. Braeburn has exclusive commercialization rights to Probuphine in the United States and Canada under a license from Titan Pharmaceuticals (TTNP).

• The primary objective of the study was to show non-inferiority between the two treatment groups and the primary efficacy analysis was a non-inferiority comparison of the proportion of treatment responders in each group. Analyses were carried out according to the pre-planned Statistical Analysis Plan. 
• Response rates were 96.4% for the Probuphine arm and 87.6% for the sublingual buprenorphine/naloxone arm. The two-sided 95% confidence interval (0.009, 0.167) of the treatment difference was well within the pre-defined successful margin for non-inferiority. The safety and tolerability profiles for each treatment group were also comparable. The implantation procedures were well tolerated and comparable to observations from earlier studies with Probuphine

7:05 am iShares MSCI Turkey ETF: Turkish markets sink on political uncertainty (TUR) :

• Turkey's main equity market moved lower by 6.2% in the wake of a surprise loss by the President Erdogan's ruling party. 
• The Turkish Lira plunged as well, losing as much as 5% before the central bank stepped in to support the currency.
• TUR Is -7%; Turkcell (TKC) is down 9% ahead of the open.  
  

7:03 am PlasmaTech Biopharma announces that it has licensed an AAV gene therapy for the treatment of Juvenile Batten disease from UNeMed Corporation; IND-enabling studies to commence in 2015 (PTBI) :  

7:03 am MGIC Investment releases monthly operating statistics for May; primary new insurance written totaled $3.7 bln (MTG) : MTG released May metrics:

• Primary New Insurance Written was $3.7 bln
• Beginning Primary Delinquent Inventory 69,630 loans
• Ending Primary Delinquent Inventory 68,224 loans
  

7:02 am Fibrocell Science and Intrexon (XON) announce positive in vitro pre-clinical data for FCX-007 to treat Recessive Dystrophic Epidermolysis Bullosa (FCSC) : Co announced positive in vitro pre-clinical data for Fibrocell's lead orphan gene-therapy drug candidate, FCX-007, for the treatment of recessive dystrophic epidermolysis bullosa (:RDEB). The data were presented in a poster entitled "Development of a Genetically-Modified Human Dermal Fibroblast for the Treatment of Recessive Dystrophic Epidermolysis Bullosa (:RDEB)" at the European Society of Human Genetics Conference.

• In vitro product development data showed that FCX-007 (genetically-modified human dermal fibroblast, collagen VII) expresses full-length COL7 and exhibits the proper trimeric form, size, and binding functionality characteristic of anchoring fibrils, which are missing or deficient in RDEB patients.
• The integrated transgene copy number per cell was dose-dependent using a replication-defective, self-inactivating (:SIN) lentiviral vector 
• The COL7 expression from the FCX-007 cells was confirmed by three different analytical methods: qRT-PCR, immunofluorescence staining and ELISA
• The structure of the COL7 expressed by the FCX-007 cells was shown to be predominantly trimeric by immunoprecipitation/SDS-PAGE/Western blot analysis. Naturally-occurring COL7 primarily has this characteristic trimeric structure which is believed to be integral to the creation of anchoring fibrils of necessary strength
  
• Preliminary two- and six-week toxicology results using FCX-007 cells in a human skin graft model demonstrated no findings of toxicology in RDEB human skin xenograft severe combined immunodeficiency (SCID) mice.
  

7:02 am Transenterix announces a proposed public offering of common stock; offering size and price not disclosed (TRXC) : Co plans to use the net proceeds from this offering for research and development, sales, marketing, and commercialization related to its SurgiBot System, working capital and other general corporate purposes.

7:02 am PartnerRe Board has reaffirmed its recommendation of the AXIS (AXS) transaction, and urges Preferred Shareholders to vote FOR the amalgamation agreement with AXIS Capital today (PRE) :

• The amalgamation with AXIS Capital (AXS) results in an even stronger company with higher, more diversified earnings, lower volatility and enhanced business profile to support the security and value of the PartnerRe preferred securities. 
• In contrast, the EXOR (EXOSF) proposal diminishes the value of the preferred shares compared to both standalone PartnerRe and pro forma PartnerRe/AXIS.
  

7:01 am Alnylam Pharma announces the appointment of David-Alexandre M.D. as Chief Business Officer (ALNY) : In addition Gros will be joining the Alnylam Management Board.Most recently, Gros was Executive Vice President and Chief Strategy Officer at Sanofi (SNY), where he was a member of the Executive Committee and the Global Leadership Team.

7:01 am Insys Therapeutics announces it has completed its two-for-one stock split through stock dividend (INSY) : As a result of the dividend, shareholders received one additional share of Insys Therapeutics, Inc. common stock, par value $0.01, for each share they held as of the record date. Total shares outstanding increased from approximately 35.8 million to 71.6 million shares. Insys' common stock will begin trading on a split-adjusted basis today.

7:00 am Concert Pharmaceuticals receives $50 mln payment from Auspex Pharmaceuticals; payment pursuant to terms of patent agreement, triggered by acquisition of Auspex by Teva Pharma (TEVA) (CNCE) :  

7:00 am Opus Bank announces the resignation of COO Romolo Santarosa (OPB) : Co stated: "Opus does not intend to hire a replacement for the COO role. The Office of the Chief Operating Officer, which is comprised of Michael Allison, Co-President; Don Royer, Sr. EVP, General Counsel and Nicole Carrillo, EVP, Chief Financial Officer, will manage those areas within Opus that were managed by Ron Santarosa."

6:52 am Asian Markets Close: Japan's Nikkei -0.02%; Hong Kong's Hang Seng +0.2%; China's Shanghai Composite +2.2% (:SUMRX) : Most markets in the Asia-Pacific region began the new week on a lower note, but not the Shanghai Composite. It jumped another 2.2% on the heels of last week's 8.9% gain. That move followed some generally disappointing trade data for May that featured a 2.5% decline in exports and a 17.6% decline in imports. The soft export figure acted as a drag on sentiment for regional markets.

Economic data

• China
• May Trade Balance $59.49 bln (expected $44.95 bln; prior $34.13 bln)
• Exports -2.5% (expected -5.0%; prior -6.4%)
• Imports -17.6% (expected -10.7%; -16.2%)
• Japan
• April Adjusted Current Account Balance JPY 1.27 tln (expected JPY 1.45 tln; prior JPY 2.07 tln)
• May Bank Lending +2.6% year-over-year (expected +2.6%; prior +2.6%)
• Q1 GDP Revised +1.0% quarter-over-quarter (expected +0.7%; prior +0.6%); +3.9% year-over-year (expected +2.7%; prior +2.4%)

Equity Markets

• Japan's Nikkei posted a fractional loss for the session following an upward revision to Q1 GDP growth. Gains in the technology (+0.8%) and consumer non-cyclical +0.5%) sectors were offset by losses in the communications (-0.7%) and industrial (-0.6%) sectors. Individual standouts included Mitsui Mining & Smelting (+4.5%), Shiseido (+3.4%), and MEIJI Holdings (+3.2%). Pacing the laggards were Dentsu (-3.7%), Kansai Electric Power (-3.1%), and Tokyo Electric Power (-2.8%). Out of the 225 index members, 103 ended higher, 115 finished lower, and 7 were unchanged.
• Hong Kong's Hang Seng increased 0.2%, bolstered by gains in the energy sector (+0.4%) and leading financial issues. Bank of Communications (+8.0%), Bank of China (+3.7%), and Ping An Insurance (+3.1%) sat atop the list of winners while China Mengniu Dairy (-5.4%) and Want Want China Holdings (-3.9%) led the losers. Out of the 50 index members, 19 ended higher, 29 finished lower, and 2 were unchanged.
• China's Shanghai Composite jumped 2.2% on the back of an 8.9% gain last week. The advance followed some disappointing trade data for May that showed a decline in both exports and imports, bolstering speculation that further policy stimulus will be seen. The Composite also benefited from speculation that 'A' shares will be included in the MSCI Emerging Markets Index. That decision will be made June 9. The Shanghai Composite is up 11.3% month-to-date and 58.6% year-to-date.
• India's Sensex declined 0.9%, finishing near its lows for the day. The basic materials (-2.7%), energy (-1.8%), and financial (-1.0%) sectors were the weakest links. Vedanta (-3.2%), Tata Steel (-3.0%), and Sun Pharmaceutical (-2.3%) led all decliners. Tata Power (+1.4%) and Bajaj Auto (+1.1%) were the only stocks that gained more than 1.0%. Out of the 30 index members, 6 ended higher and 24 finished lower.
• Australia's S&P/ASX 200 -- closed for holiday (Queen's Birthday)
• Regional advancers: Taiwan +0.3%, Vietnam +0.3%
• Regional decliners: South Korea -0.1%, Malaysia -0.3%, Indonesia -1.7%, Singapore -0.4%, Thailand -0.1%, Philippines -0.6%

FX

• USD/CNY +0.04% at 6.2056
• USD/INR -0.01% at 64.110
• USD/JPY -0.3% at 125.28
  

6:35 am Equity Commonwealth announces it has completed the sale of two portfolios of 51 properties, for $793 million (EQC) : The company sold a 45-property portfolio of small office and industrial assets totaling 5.3 million square feet across 19 markets in 13 states, for a gross sales price of $376 million. The company also sold a six-property portfolio totaling 3.0 million square feet, for a gross sales price of $417 million. These office assets are located in Birmingham, AL; New Orleans, LA; Columbia, SC; and Greensboro, NC

• Year-to-date, the company has sold $817 million of assets, encompassing 56 properties and 9 million square feet
  

6:33 am Sealed Air announces an offering of senior unsecured dollar-denominated notes due 2025, and senior unsecured euro-denominated notes due 2023 (SEE) : In conjunction with the offering, co announced a cash tender offer for all of its $750 million in 8.375% Senior Notes due 2021. Co intends to use the net proceeds from the offering of the Notes, along with cash on hand, to repurchase, redeem or satisfy and discharge all of its outstanding 8.375% Senior Notes due 2021 and for general corporate purposes.

6:23 am AU Optronics reports May revs increased 2.2% sequentially, down 10.8% YoY to NT$31.2 bln (AUO) : Shipments of large-sized panels for LCD TV, desktop monitor, notebook PC, and other applications were around 8.67 million units in May 2015, up by 5.9% from the previous month. As for small-and-medium-sized panels, the shipments increased by 6.9% month-over-month to ~ 16.10 million units.

6:21 am On the Wires (:WIRES) :

• Etihad Airways announced the signing of a collaboration agreement with Accenture (ACN) to support the implementation of its business transformation program. As part of the agreement, Accenture will provide strategy and management consulting services in the areas of human resources, finance, and procurement and supply management. Accenture will work with the airline's technology partner, SAP (SAP), to implement a new enterprise resource planning software solution. It will also set up and operate a new testing center for these solutions. 
  
• JAKKS Pacific, Inc. (JAKK) announced a licensing agreement with Warner Bros. Consumer Products to manufacture, distribute and market a line of toys and products based on Warner Bros. Pictures' film, Batman v Superman: Dawn of Justic
• Radware (RDWR) announced it has provided to Cisco Systems (CSCO) its distributed denial of service mitigation technology for the new Cisco Firepower 9300 appliance
  
• Nexvet Biopharma (NVET) announced an update to its manufacturing strategy. Nexvet has signed a manufacturing agreement with FUJIFILM Diosynth Biotechnologies to provide future clinical-scale biomanufacturing services for Nexvet's product candidates, NV-01 and NV-02. The contract also allows for Fujifilm to become the commercial manufacturer of these product candidates.
  

6:02 am Integrated Silicon announces that Cypress Semiconductor (CY) has failed to finalize a merger agreement with the ISSI by Cypress' own deadline of June 7th (ISSI) : Co announced that Cypress Semiconductor (CY) has failed to finalize a merger agreement by the deadline of June 7, 2015 imposed by Cypress, even after Cypress received the negotiated draft agreement from ISSI on Friday, June 5, 2015.

• Co additionally stated: "As a result of ISSI's full cooperation, Cypress was able to complete extensive due diligence and hold numerous meetings with ISSI's management team. Also, a merger agreement has been nearly fully negotiated with the only remaining point of difference being the treatment of the antitrust risks of the transaction. While Cypress has repeatedly downplayed antitrust concerns in its press releases, ISSI believes a transaction with Cypress presents significant antitrust risks in both the U.S. and Germany. 
• As such, ISSI believes a transaction with Cypress would be unlikely to close without substantial divestitures or other actions required by antitrust authorities. ISSI is disappointed that Cypress is not willing to agree to take all necessary actions to ensure receipt of antitrust clearance. Cypress has consistently downplayed the antitrust risks in its public statements. If Cypress truly believes that the transaction does not present significant antitrust concerns then it should be willing to provide the contractual commitment that the ISSI Board believes is in the best interests of its stockholders. 
• By refusing to agree to the ISSI language, Cypress is placing ISSI's stockholders and the transaction closing at risk by creating an opportunity for Cypress to walk away from the deal if it does not receive a favorable antitrust decision. The recent actions of Cypress illustrate their knowledge of the significant risk of these anti-trust issues. 
• Clearly, Cypress' position is not in the best interest of ISSI's stockholders, and could not be accepted, since a merger closing would be highly uncertain."
  

6:02 am Neostem finalizes name change to Caladrius Biosciences; ticker to change to CLBS (NBS) :  

6:01 am Jiayuan.com announces the receipt of an amended 'going private' proposal for $4.80/share or $7.20/ADS share (DATE) : Co today announced that a special committee of the Company's board of directors was formed to review and evaluate the non-binding proposal letter from Vast Profit Holdings Limited that proposes a "going-private" transaction. The amended proposal increases the consideration payable in the Proposed Transaction to a price per share of $4.80, or $7.20 per American depositary share of the Company, from the price per share of $3.58, or $5.37 per ADS, contained in the Original Proposal Letter.

6:01 am G-III Apparel and Karl Lagerfeld Group announce they have entered into a joint venture agreement for North American market development (GIII) : Under the terms of the agreement, Karl Lagerfeld Group BV has assigned the Karl Lagerfeld marks for all consumer products (except eyewear, fragrance, cosmetics, watches, jewelry, and hospitality services, all of which remain exclusively with Karl Lagerfeld Group BV) and apparel in the United States and Canada. In addition, the joint venture will be granted an exclusive, irrevocable, royalty-free license to use the marks in Mexico with respect to the same products. G-III acquired a 49% interest in the joint venture. The joint venture expects to grant additional category licenses over time to G-III and/or to other parties

5:48 am S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +3.20. :

5:48 am European Markets : FTSE...6804.37...-0.80...0.00%.  DAX...11154.71...-42.40...-0.40%.

5:48 am Asian Markets : Nikkei...20457.19...-3.70...0.00%.  Hang Seng...27316.28...+56.10...+0.20%.

5:46 am Nexvet Biopharma provides an update to its manufacturing strategy (NVET) : The co has signed a manufacturing agreement with FUJIFILM Diosynth Biotechnologies (FUJIY) to provide future clinical-scale biomanufacturing services for Nexvet's most advanced product candidates, NV-01 and NV-02, being developed for chronic pain management indications in dogs and cats. The contract also allows for Fujifilm to become the commercial manufacturer of these product candidates. Also, the co announced that in addition to the recent appointment of Dr. Jrgen Horn as Chief Product Development Officer, it has appointed Ray O'Connor as Vice President of Technical Operations to oversee manufacturing scale-up.

5:45 am Sasol President and CEO, David Constable, decides not to extend his contract of employment (SSL) : Sasol announced that its President and CEO, David Constable, has decided not to extend his contract of employment with the Company, which expires on 31 May 2016, for a further term beyond 30 June 2016, being the end of the Company's next financial year. To support Sasol's mega-projects, the board has agreed that a special advisory services agreement be entered into with Mr Constable for the 2017 financial year. The board says it has a succession plan and structured process in place for the position of the President and CEO of the Company

5:43 am Iron Mountain enters into a binding Scheme Implementation Deed to acquire Recall Holdings for an enterprise value of ~$2.6 bln; expected to generate 20% adjusted EPS accretion in 2017 and 25% in 2018 (IRM) : The co and Recall Holdings Limited have entered into a binding Scheme Implementation Deed for Iron Mountain to acquire Recall by way of a recommended court-approved Scheme of Arrangement for an enterprise value of approximately $2.6 billion at the current Iron Mountain stock price. The transaction is contingent upon certain customary shareholder and regulatory approvals and other customary conditions, and is expected to close in early 2016.

• Under the terms of the transaction, Recall shareholders will receive 0.1722 of an Iron Mountain common share and US$0.50 in cash for each Recall share, with Iron Mountain to establish a secondary listing on the Australian Securities Exchange to allow Recall Shareholders to trade Iron Mountain shares via CHESS Depository Interests on the ASX.
• The transaction is expected to generate significant synergies and Adjusted EPS, FFO and AFFO accretion. Total net synergies are expected to be approximately US$155 million. Net synergies are expected to be approximately $110 million in 2017 and $140 million in 2018, resulting in Adjusted EPS accretion of approximately 20% and 25%, respectively. Estimates of potential synergies available through the transaction are preliminary and may increase as ongoing analysis and refinement of synergies progresses.
• Iron Mountain anticipates a total of approximately $300 million in integration-related costs, including transportation and move costs, operating systems integration and other costs which will be expensed over several years and treated as an extraordinary item. Subject to Board approval, Iron Mountain intends to maintain its current ordinary dividend rate per share through 2015 and 2016, despite these anticipated transaction-related cash costs. Recall also intends to maintain its current dividend policy. 
  

4:59 am On The Wires (:WIRES) :

• Aliyun, Alibaba Group's (BABA) cloud computing arm, today announced the launch of Marketplace Alliance Program, a global partnership program that provides enterprises with access to Aliyun's full suite of cloud computing services and international partners. 
• ICF International (ICFI) recently attained new certifications from the International Organization for Standardization for ISO 9001: 2008 Quality Management Systems. Certifications were issued to ICF's Europe and Asia Group, including ICF Hong Kong. 
• Eltek (ELTK) announced that it has completed the relocation of its US-based subsidiary, Eltek USA, into a new facility. 
• Rovi (ROVI) announced that Rovi prevailed in an infringement proceeding in Italy. In May 2015, the Court of Turin in Italy issued its decision that Rovi is entitled to a total combined judgment of approximately $1,000,000. The Court of Turin had previously found the asserted patents valid and infringed by Card Mania and Italvideo. 
• Oshkosh (OSK) Fire & Emergency Group is unveiling the new Oshkosh XP fire apparatus at Interschutz 2015 on June 8-13 at Messegelnde, D-Hannover in Hannover, Germany. The new vehicle will be displayed at the Oshkosh Corporation booth, located at open-air site Stand M06/3.
  

4:44 am Mylan Labs launches generic alternative to GlaxoSmithKline's (GSK) Seretide Evohaler (MYL) : Mylan N.V. (MYL)  announced that it has launched the first bioequivalent alternative to GlaxoSmithKline's (GSK) Seretide Evohaler under the brand name Sirdupla in the UK. 

• With 5.4 million people suffering from asthma in the UK, the condition costs the National Health Service 1 billion ($1.53 billion) annually.
  

4:34 am Syngenta issues statement on second letter of Monsanto (MON); states the second letter essentially repeated their first proposal of April 18 (SYT) : Co states "...Monsanto's second letter represents the same inadequate price, same inadequate regulatory undertakings to close, same regulatory risks and same issues associated with dual headquarters' moves. As such, we have reiterated our prior rejection of Monsanto's proposal. In particular Syngenta notes that if a transaction were to be announced and not consummated, there would be significant harm and value destruction for Syngenta and its shareholders, which requires a careful assessment of all risks and a clear path to closing, and is in no way adequately addressed by a paltry reverse regulatory break fee relative to such fees seen in transactions with comparable levels of regulatory risk..."

4:08 am Air France-KLM reports May traffic rose 3.2% YoY (AFLYY.PK) : Co Reports May traffic results

• Group passenger numbers up 3.2%
• Passenger network: strict capacity discipline, continued pressure on unit revenues ex-currency, unit revenues slightly up including currency
• 6.8 million passengers, up 2.0%
•  Capacity growth on Latin America primarily driven by launch of Amsterdam-Bogota/Cali route
• Unit revenue per available seat kilometer (:RASK) ex-currency clearly down compared to May 2014
• Increased pressure on unit revenue: ex-currency unit revenue down approximately 6% in April-May 2015 compared to April-May 2014. Reported unit revenue however slightly up (approximately +1%) including currency over the same period.
  
  

4:03 am Novo Nordisk reports new Xultophy phase 3b study showed statistically significant HbA1c reduction, body weight change and lower rate of hypoglycaemia versus insulin glargine (NVO) : Co reports new phase 3b findings showed adults with type 2 diabetes treated with Xultophy (IDegLira), a once-daily, single-injection combination of insulin degludec and liraglutide, demonstrated statistically significant reduction in HbA1c(average blood glucose over the previous three months), change in body weight and a lower rate of hypoglycaemia compared with patients treated with insulin glargine.

• Findings from the phase 3b DUAL(TM) V 26-week trial that compared the efficacy and safety of Xultophy versus insulin glargine, both added on to metformin, in patients with type 2 diabetes uncontrolled on insulin glargine
  

3:48 am United Micro reports May sales increased 8.39% YoY to NT$12.9 bln (UMC) :  

3:37 am Koninklijke Ahold repurchased 1,355,000 common shares in the period from June 1-5 (AHONY) : The shares were repurchased at an average price of 18.5534 per share for a total consideration of 25.14 million. These repurchases were made as part of the 500 million share buyback program announced on February 26, 2015.

3:32 am Syngenta: Monsanto reaffirms proposal for stock transaction valued at CHF449 per share (SYT) : Monsanto (MON) reaffirmed its commitment to a constructive process to negotiate a mutually beneficial combination as part of the company's proposal to combine with Syngenta (SYT) in a cash and stock transaction valued at 449 CHF per share.

• Monsanto's proposal would provide Syngenta shareholders with a substantial premium of more than 43% over the 314 CHF unaffected share price on April 30, 2015 and a more than 45% premium to Syngenta's 52 week volume weighted average share price, as well as significant further value creation through ongoing ownership in the combined company. 
• Monsanto has proposed to Syngenta a new $2 billion reverse break-up fee payable by Monsanto if it is unable to obtain necessary global regulatory approvals.
  

3:16 am Ligand Pharma reports favoralble results from Phase 1b Trial with LGD-6972; plans to initiate a Phase 2 Trial (LGND) : Co announces results from a Phase 1b clinical trial with LGD-6972 that demonstrate favorable safety, tolerability and pharmacokinetics in normal healthy volunteers and in subjects with type 2 diabetes mellitus. The trial results also demonstrate a robust, dose-dependent reduction of fasting plasma glucose.
Highlights of the study include:

• LGD-6972 tested at 5mg, 10mg and 15mg was safe and well-tolerated with no clinically significant or dose-dependent changes in hematology, clinical chemistry or urinalysis panels, ECG or vital signs. There were no serious adverse events and no study discontinuations. All treatment-emergent adverse events were of mild or moderate severity (grade 1 or 2). 
  
• Plasma levels increased linearly with LGD-6972 dosage, and the pharmacokinetic profiles were comparable between normal and type 2 diabetes subjects, supporting once-daily dosing. 
  
• LGD-6972 lowered fasting plasma glucose in normal subjects and in subjects with type 2 diabetes. Glucose was reduced throughout the 14-day dosing period. Baseline adjusted glucose values showed dose-dependent effects of LGD-6972 in type 2 diabetic subjects with a maximal decrease of 60 mg/dL. 
  
• 7 point glucose measurements were performed at baseline and Day 14 and illustrated that LGD-6972 decreased glucose throughout a 24-hour period in both fasting and post-prandial states. 
  
• LGD-6972 is a highly potent and selective glucagon receptor antagonist and is a promising agent for the treatment of type 2 diabetes. 
  

Phase 2 study
Ligand is preparing to initiate a Phase 2 trial with LGD-6972 in 2016 with the goal to establish additional safety and efficacy for the program in 12 consecutive weeks of dosing in subjects with type 2 diabetes.

• Approximately 100 subjects will be enrolled in this randomized, double-blind, multicenter trial. 
• The trial is estimated to cost approximately $10 million and should be completed in 2017.
  

2:43 am On The Wires (:WIRES) :

• Overstock.com (OSTK) became the first company to solicit qualified institutional buyers in a digital corporate bond which will trade using the same technology that underlies cryptocurrencies such as bitcoin. This pioneering development is part of the company's larger cryptofinance initiative known as Medici. 
• The U.S. Navy and Missile Defense Agency conducted the first flight test of the Raytheon Company (RTN) Standard Missile-3 Block IIA. The interceptor's bigger rocket motors and more capable kill vehicle will engage threats sooner and protect larger regions from short- to intermediate-range ballistic missile threats. Aerojet Rocketdyne (AJRD) announced that its propulsion systems played a crucial role during the first flight test of Raytheon's Standard Missile-3 Block IIA guided missile

2:36 am DBV Technologies presents new preclinical research data characterizes additional mechanistic features of Epicutaneous Immunotherapy (DBVT) : Co announced that it has presented and will present clinical and scientific data on EPIT for the treatment of food allergies.

• Specifically, investigators conducting the company's VIPES study presented additional post-hoc results from this Phase IIb trial for the treatment of peanut allergy, which showed that increasing the stringency of the responder definition led to a clear treatment dose-response versus placebo in both the study's population and in the children's subgroup. New scientific data also supports the use of EPIT in the treatment of food allergies versus oral and sublingual immunotherapy. 
• The company remains on track to start its Phase III trial in peanut allergic children, the PEPITES study, in late 2015.
  

2:07 am Alpha and Omega Semi commences $30 mln Modified Dutch Auction tender offer for its common shares (AOSL) : Co announced that it is commencing a modified "Dutch auction" tender offer to purchase for cash its outstanding common shares for an aggregate purchase price of no more than $30 million. The tender offer is part of the Company's existing $50 million repurchase program that was previously approved

• Company's shareholders may tender all or a portion of their shares at a price specified by the tendering shareholder of not less than $8.50 and not greater than $9.20 per share
  

2:02 am Synopsys acquires privately held Atrenta; terms not disclosed (SNPS) : Synopsys (SNPS) has signed a definitive agreement to acquire Atrenta, a privately held provider of SoC realization solutions for the semiconductor and consumer electronics industries. By integrating Atrenta's complementary static verification and implementation technology with Synopsys' Verification Continuum and Galaxy Design platforms, Synopsys can offer designers a more comprehensive, robust portfolio of silicon to software solutions for the complex electronic systems.

1:35 am Gazit-Globe acquired Shopping Light for R$150 mln (~ $48 mln) (GZT) : Co acquired Shopping Light, considered an iconic property in downtown, Sao Paulo, for R$150 million (~ $48 million) including transaction costs. In the last 9 months Gazit Brasil acquired 3 shopping centers in Sao Paulo for a total consideration of ~ $185 mln.

1:30 am Eli Lilly's Basal Insulin Peglispro shows superiority to insulin glargine in reducing HbA1c in people with Type 2 Diabetes (LLY) : Co's basal insulin peglispro consistently demonstrated superior hemoglobin A1c reduction in people with type 2 diabetes compared to insulin glargine across three Phase III trials.

• Additional data from IMAGINE-2, IMAGINE-4 and IMAGINE-5 showed that more patients taking BIL consistently met the ADA's recommended HbA1c target of less than 7 percent.4 A greater percentage of BIL-treated patients also reported less nocturnal hypoglycemia compared to those on insulin glargine. 
• Rates of total and severe hypoglycemia did not differ significantly between treatment groups. Patients taking BIL experienced less weight gain than patients taking insulin glargine in IMAGINE-2 and IMAGINE-4.
• In all three clinical trials, patients taking BIL had an increase in the liver enzyme ALT (alanine aminotransferase), and triglyceride levels were higher than in patients treated with insulin glargine.1,2,3 Liver fat content was higher after treatment with BIL compared to insulin glargine in subsets of patients studied from IMAGINE-2 and IMAGINE-5.
  

1:27 am Lexicon Pharma presents data indicating sotagliflozin treated patients demonstrated reductions in A1C, body weight, and bolus (LXRX) : Co announced that the manuscript entitled "Sotagliflozin, a Dual SGLT1 and SGLT2 Inhibitor, as Adjunct Therapy to Insulin in Type 1 Diabetes" was presented at the American Diabetes Association.

• From a safety perspective, 14 (88%) patients on sotagliflozin reported adverse events compared with 12 (71%) patients on placebo. 
• No adverse events led to discontinuation from the study. 
• The most frequently reported treatment-emergent adverse events were gastrointestinal disorders, which were reported by eight sotagliflozin patients (50%) compared with three placebo patients (18%), with the most notable imbalance being three reports of nausea on sotagliflozin versus one on placebo. 
• Nausea generally occurred early, was mild in intensity and of short duration.
  

1:24 am Becton Dickinson presents data demonstrating potential benefits of proprietary side-ported catheter (BDX) : Co released research on infusion sets that represents a potential improvement in insulin pump therapy for people with diabetes. Three different posters will be presented at the American Diabetes Association's annual meeting with data on a new insulin infusion set with BD FlowSmar technology.

• Continuous Subcutaneous Insulin Infusion Sets: Reduced Flow Interruptions with a Novel Catheter Set -- Study Details
• The results showed that pressure rise events or silent occlusions were reduced by 75 percent, p = 0.03, from 10.2 percent to 2.6 percent of infusions. A silent occlusion is defined as a continuous rise in pressure of at least 30 minutes. 
• Decreasing such flow interruptions may benefit patients by providing more consistent insulin delivery.

1:18 am Eli Lilly reports primary objective was met for Trulicity (LLY) : Co announces results from a new study of Japanese patients with type 2 diabetes showed once-weekly Trulicity 0.75 mg provided greater hemoglobin A1c reduction compared to once-daily Victoza 0.9 mg after 52 weeks of treatment.

• The study's primary objective was met, with Trulicity 0.75 mg demonstrating a greater A1C reduction from baseline compared to placebo at 26 weeks. 
• At the final endpoint of 52 weeks, which is the focus of the data presentation at the meeting, Trulicity 0.75 mg demonstrated statistically greater A1C reductions compared to Victoza 0.9 mg, the highest approved dose in Japan
  

1:13 am Sanofi-Aventis reports Lyxumia met all co-primary endpoints in a clinical trial (SNY) : Co that Lyxumia met all co-primary endpoints in a clinical trial comparing its use as a once-daily add-on to basal insulin versus the addition of rapid acting insulin injected once each day at main meal or three times daily at each meal.

• Participants were adults with type 2 diabetes poorly controlled on basal insulin. 
• Lixisenatide was shown to be non-inferior to both comparator insulin regimens for reduction in blood sugar and statistically superior to basal-bolus for body weight change, as co-primary endpoints for the study.
  

1:12 am Medtronic's MiniMed 640G system shown to further reduce hypoglycemia (MDT) : Co announced results from the European User Evaluation of the MiniMed 640G system, which demonstrated that the pump's exclusive SmartGuard technology can reduce hypoglycemia and offer further advancement in automation compared to previous generation Medtronic insulin pump systems.

12:51 am Biglari Holdings: Lion Fund II commenced a tender offer to purchase for cash up to 575,000 shares of BH at $420.00 per share (BH) : Affiliates of The Lion Fund II beneficially own ~ 19.6% of the outstanding shares of Biglari Holdings' common stock.

12:49 am Silver Bull Resources intends to de-list shares from NYSE and apply to have its shares trade on the OTCQX (SVBL) : The Company anticipates that the last day of trading for its common shares will be on or about June 26, 2015. The Company has made application to have its shares traded on the OTCQX quotation system operated by the OTC Markets Group once the delisting from NYSE MKT is complete.

12:48 am Boyd Gaming announces final results of tender offer for its 9.125% Senior Notes due 2018 (BYD) :  

12:46 am PartnerRe: Supreme Court of Bermuda denied EXOR's request to obtain customary beneficial ownership information from PartnerRe (PRE) : Despite PartnerRe's refusal to provide the requested information, EXOR will actively solicit PartnerRe's common and preferred shareholders to vote AGAINST the AXIS (AXS) transaction at the PartnerRe Special General Meeting on July 24, 2015 in light of EXOR's superior all-cash $137.50 per share binding offer for PartnerRe. EXOR believes that PartnerRe's position impedes its own shareholders from being fully and correctly informed of their options in a further attempt by the PartnerRe Board to protect the inferior AXIS transaction

12:45 am Ellington Financial reports estimated book value per common share was $23.00, or $22.70 on a diluted basis, as of May 31, 2015 (EFC) :  

12:41 am Harsco withdraws public offering of $250 mln of Senior Notes and termination of tender offer for any and all of its 2.700% Senior Notes due 2015 (HSC) :