InPlay from Briefing.com

4:49 am Blackstone announces intention to offer euro-denominated senior notes of Blackstone Holdings Finance Co (BX) :

  • Blackstone intends to use the proceeds from the notes offering for general corporate purposes.

4:22 am Credit Agricole issues zero coupon bonds due 2019 exchangeable for Eurazeo shares for an approx EUR300 mln and repurchase of the zero coupon bonds issued in 2013 and due 2016, exchangeable for existing Eurazeo shares (CRARY) :  

4:18 am North Atlantic Drilling receives notice from Statoil (STO) of early contract cancellation for the West Epsilon (NADL) :

North Atlantic Drilling (NADL) has received a notice of cancellation from Statoil (STO) Petroleum AS related to the contract for the West Epsilon.

  • The West Epsilon was originally contracted for drilling services in Norway until the end of December 2016 and the early cancellation will be effective upon concluding its current activities in mid-October.
  • In accordance with the contract the Company will receive a lump sum payment of ~$11 million. The West Epsilon is currently being marketed for new employment.

4:14 am Amgen reports Phase 3 KYPROLIS; trial did not meet the primary endpoint (AMGN) :

Co announced top-line results of the Phase 3 CLARION trial, which evaluated an investigational regimen of KYPROLIS, melphalan and prednisone versus Velcade, melphalan and prednisone for 54 weeks in patients with newly diagnosed multiple myeloma who were ineligible for hematopoietic stem-cell transplant.

  • The trial did not meet the primary endpoint of superiority in progression-free survival
  • While the data for overall survival, a secondary endpoint, are not yet mature, the observed hazard ratio (KMP versus VMP) was 1.21 (95 % CI, 0.90 - 1.64). Neither result was statistically significant.
  • Overall, the adverse events in the KMP arm were consistent with the known safety profile of KYPROLIS. The incidence of Grade 3 or higher adverse events was 74.7 % in the KMP arm and 76.2 % in the VMP arm.
  • Fatal treatment-emergent adverse events occurred in 6.5 % of KMP patients and 4.3 % of VMP patients. The incidence of Grade 2 or higher peripheral neuropathy, a secondary endpoint, was 2.5 % in the KMP arm and 35.1 % in the VMP arm.

4:08 am On The Wires (:WIRES) :

  • Nokia (NOK) is expanding its exclusive partnership with China Unicom for the high-end core router CR-B for three continuous years with its large-capacity core router platform - the 7950 Extensible Routing System. China Unicom (CHU) selected the 7950 XRS family to build a more intelligent, flexible and scalable core network with the ability to meet future capacity demands and support the country's national broadband plan.
  • INTL FCStone (INTL) announced that its London-based subsidiary, INTL FCStone Ltd's Global Payments Division, launched a financial information exchange protocol, which is integrated with its proprietary FXecute global payments platform.
  • ARM (ARMH) has released new on-chip interconnect technology delivering the scalability, performance and efficiency demanded across multiple markets including 5G networks, data center infrastructure, HPC, automotive and industrial systems.
  • Tableau Software (DATA), working through the Tableau Foundation, is helping to accelerate change by making free licenses of its powerful visual analytics software to small non-profits, NGOs, and charitable community-based organizations in 192 countries. Co also announced it has delivered new APIs that make it possible for developers to build new experiences for its customers and extend the possibilities of Tableau.
  • Nissan (NSANY) unveiled its latest video showcasing innovations designed to bring the benefits of its intelligent mobility technology to the daily lives of customers.

3:54 am Caesars Entertainment announce proposed consensual restructuring plan for CEOC; designed to provide pathway to consensual confirmation and completion of reorganization (CZR) :

Co and Caesars Entertainment Operating Company (:CEOC) and its Chapter 11 debtor subsidiaries announced that they have received confirmation from representatives of CEOC's major creditor groups of those groups' support for a term sheet that describes the key economic terms of a proposed consensual chapter 11 plan for the Debtors.

  • Based on discussions with these representatives, Caesars Entertainment and CEOC are optimistic that the support received for the proposed consensual plan will allow CEOC to obtain the required creditor votes to confirm the plan. Confirmation of the plan would facilitate a successful conclusion to CEOC's bankruptcy proceedings in 2017 and enable Caesars Entertainment and CEOC to move forward with a substantially improved capital structure.
  • Hamlet Holdings, the entity through which funds managed by Apollo Global Management (APO), LLC, TPG Capital, L.P. and certain co-investors hold their interest in Caesars Entertainment, will contribute the full 14% of the equity that it would have received through its ownership in Caesars Entertainment in the plan of reorganization currently on file.
  • This contribution is valued by the Debtors at ~$950 million. Notwithstanding the fact that Hamlet will contribute all of its equity in Caesars Entertainment, the public stockholders of Caesars Entertainment will retain 6% of the equity in "New CEC."
  • The Revised Plan of Reorganization will release all pending and potential litigation claims and causes of action against Caesars Entertainment, Caesars Acquisition Company, and related third parties to the fullest extent permitted.

3:34 am Eisai submits Supplemental application for partial label change for antiepileptic drug Fycompa (ESALY) :

Co announced that its U.S. subsidiary Eisai has submitted a supplemental application for its in-house-discovered antiepileptic drug (AED) Fycompa (perampanel) proposing the inclusion in labelling of a description of use as monotherapy for the treatment of partial-onset seizures with or without secondarily generalized seizures in patients with epilepsy 12 years of age and older to the FDA based on new FDA policy.

  • The FDA policy has determined that it is acceptable to extrapolate safety and efficacy of AEDs approved as an adjunctive therapy for the treatment of partial-onset seizures to their use as monotherapy for the treatment of partial-onset seizures.
  • Based on the policy, Eisai Inc. has submitted a supplemental application for monotherapy labelling for Fycompa which includes pharmacokinetic information supporting proposed doses to be used in monotherapy.

3:26 am On The Wires (:WIRES) :

  • NXP Semiconductors (NXPI) and Xiaomi Inc announced they are successfully deploying best-in-class technologies to implement secure, convenient mobile transit experiences countrywide across China's popular metro stations and public bus lines.
  • Bombardier (BDRBF) Commercial Aircraft announced the delivery of the Tanzanian Government Flight Agency's two Q400 turboprops. The aircraft, which were newly delivered with a 76-seat, dual-lavatory configuration, will be operated by Air Tanzania, the national airline of the United Republic of Tanzania.
  • ACI Worldwide (ACIW) announced a partnership to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network.
  • Blizzard Entertainment (ATVI) and NetEase (NTES) jointly announced the extension of their collaboration in mainland China to January 2020.
  • Intercontinental Exchange (ICE) announced that J.P. Morgan has been approved as a clearing member for ICE Clear Singapore, effective immediately.

3:24 am Perion Network CEO to step down; Directors to begin search for new CEO (PERI) :

Co announced that Josef Mandelbaum will be leaving his position as Chief Executive Officer after a transition period of up to several months.

  • The Board of Directors has begun a search for the Company's next CEO and the Board and Josef are committed to a seamless transition.

3:23 am Nano Dimension prices offering of 1.85 mln ADS's at $6.50 per ADS (NNDM) :  

3:17 am CEL-SCI Corp receives FDA notice that its Multikine Phase 3 trial placed on clinical hold (CVM) :

Co announced that it has received verbal notice from the FDA that its Multikine Phase 3 clinical trial in advanced primary head and neck cancer has been placed on clinical hold.

  • Pursuant to this communication from FDA, patients currently receiving study treatments can continue to receive treatment, and patients already enrolled in the study will continue to be followed.
  • CEL-SCI was also told to expect a formal letter from the FDA within 30 days and will work diligently with the FDA to obtain the release of the clinical hold.
  • The study currently has about 926 patients enrolled.

3:13 am On The Wires (:WIRES) :

  • Cognizant (CTSH) announced that it will establish a Cognizant Digital Works Collaboratory in Melbourne, Australia. The Collaboratory will provide dedicated space for open collaboration among Cognizant, customers, and partners to design, prototype, and build digital solutions of the future.
  • LSC Communications announced the pricing of its 8.750% Senior Secured Notes due 2023, in the aggregate principal amount of $450 million. The senior secured notes are being issued and the new credit agreement is being entered into in connection with the distribution of 80.75% of the common stock of LSC Communications to holders of the common stock of R.R. Donnelley & Sons Company (RRD)
  • NXP Semiconductors N.V. (NXPI), officially announced the i.MX 6ULL applications processor which delivers up to 30% more power efficiency than its nearest competitors. The i.MX 6ULL was specifically designed for value-conscious engineers and developers working on cost-effective solutions for the growing IoT consumer and industrial, mass markets.

3:12 am Sunoco Logistics prices offering of 21 mln shares of common units at $27.00 per unit (SXL) :  

3:11 am Universal Technical Institute provides Financial Improvement Plan to improve 2017 EBITDA; reaffirms FY16 guidance (UTI) :

Co announced a Financial Improvement Plan with the goal of generating operating income and improved levels of EBITDA in 2017.

  • The Company expects the Plan to better align its corporate structure with its current student population, while better positioning UTI for success and future growth. As a part of the Plan, the Company will flatten the organization, streamline its business processes and implement cost-saving initiatives, without compromising the quality of education and service it provides to students and industry customers.
  • UTI expects the Plan to deliver $25 to $30 million in annualized cost savings coming from a reduction in our workforce consisting primarily of corporate positions, changes to our marketing strategy and admissions structure as previously disclosed and a number of process improvement initiatives. In addition, it expects to record a severance charge of  ~$4 million in the fiscal quarter ending September 30, 2016.
  • Co reaffirms guidance for FY16 (Sep), sees FY16 (Sep) revs of -6-7% YoY to ~$337-341 mln vs. $342.30 mln single analyst estimate.
  • For the year ending September 30, 2016, it expects new student starts and average student population to be down in the low double digits as a percentage compared to the prior year.

3:04 am Oracle receives clearance from DOJ to acquire NetSuite (N) (ORCL) :  

3:02 am Rice Energy prices offering of 40 mln shares of common stock at $25.50 per share (RICE) :  

3:01 am RR Donnelley & Sons unit prices offering of its 8.250% Senior Notes due 2024 (RRD) :

  • Donnelley Financial also priced its $350 million senior secured term loan B facility under its new credit agreement, under which Donnelley Financial will borrow at 4.00% over LIBOR