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Vertex Energy, Inc. Announces 2018 First Quarter Financial Results

Revenue Rose 19% Year-Over-Year; Gross Profit rose 67% Gross Profit Margin was 16.4% Conference call to be held today at 9:00 A.M. EDT HOUSTON, May 15, 2018 (GLOBE NEWSWIRE) -- Vertex Energy, Inc. (NASDAQ:VTNR), a specialty refiner of alternative feedstocks and marketer of high-purity petroleum products, announced today its financial results for the first quarter ended March 31, 2018. FINANCIAL HIGHLIGHTS FOR FIRST QUARTER OF 2018 Consolidated revenue increased 19% to $41.4 million, compared to $34.8 million for the first quarter of 2017. Gross profit was up 67% to $6.8 million compared to 11.7% for the first quarter of 2017. Gross profit margin was 16.4%. Total overall volume rose 1%, compared to the prior year’s period. Consolidated per barrel margin increased 65% for the first quarter of 2018 over the same period a year ago. Collected volume grew 17% for the first quarter of 2018 over the first quarter of 2017. Net loss attributable to common shareholders was $3.5 million, or a loss of $0.10 per share. Benjamin P. Cowart, Chairman and CEO of Vertex Energy, Inc., stated, "Overall, we are pleased with the state of our business operations. We managed to hit or surpass many of our internal targets. However, we are not happy with our EBITDA and net income results, which were negatively affected by a heater problem at our Heartland facility and an extended turnaround down time at our Marrero facility. Both of our facilities are now fully operational." Mr. Cowart added, "Despite the negative impact on our production, there was strong demand for our finished products. We witnessed an improvement in our revenues, gross profit, and gross profit margins. In addition, we managed to protect our spreads by maintaining our charge-for-oil for collected volume. We have recaptured our production capacity and plan to continue to make adjustments at our facilities as necessary in an effort to yield a significant improvement in production volume and our financial performance for 2018." FIRST QUARTER 2018 FINANCIAL RESULTS CONFERENCE CALL DETAILS Management will host a conference call today at 9 A.M. EDT. Those who wish to participate in the conference call may telephone 1-877-869-3847 from the U.S. and International callers may telephone 1-201-689-8261, approximately 15 minutes before the call. A webcast will also be available under the Investor Relations section at www.vertexenergy.com . A digital replay will be available by telephone approximately two hours after the completion of the call until July 31, 2018, and may be accessed by dialing 1-877-660-6853 from the U.S. or 1-201-612-7415 for international callers using conference ID #13679493. ABOUT VERTEX ENERGY, INC . Vertex Energy, Inc. (NASDAQ:VTNR) is a specialty refiner of alternative feedstocks and marketer of high-purity petroleum products. With its headquarters in Houston, Texas, Vertex is one of the largest processors of used motor oil in the U.S. and has processing capacity of over 115 million gallons annually with operations located in Houston and Port Arthur (TX), Marrero (LA), and Columbus (OH). Vertex also has a facility, Myrtle Grove, located on a 41 acre industrial complex along the Gulf Coast in Belle Chasse, LA, with existing hydroprocessing and plant infrastructure assets that includes nine million gallons of storage. Vertex has implemented a cost-effective strategy for building its feedstock supply by establishing a successful self-collection and aggregation system. The Company has built a reputation as a key supplier of Group II+ and Group III base oils to the lubricant manufacturing industry in North America. For more information on Vertex Energy please contact Porter, LeVay & Rose, Inc.'s investor relations representative, Marlon Nurse, D.M. at 212-564-4700 or visit our website at www.vertexenergy.com . Forward-Looking Statements This press release may contain forward-looking statements, including information about management’s view of Vertex Energy’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes,” “hopes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex Energy, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex Energy files with the Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex Energy’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex Energy cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex Energy undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex Energy. Vertex Energy, Inc. Reconciliation of Net Income (Loss) attributable to Vertex Energy, Inc., to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA* For the Three Months Ended March 31, 2018 Net (loss) income attributable to Vertex Energy, Inc. $ (2,258,622 ) Add (deduct): Interest income $ - Interest expense $ 802,515 Depreciation and amortization $ 1,694,099 Tax expense (benefit) $ - EBITDA* $ 237,992 Add (deduct): Stock-Based compensation $ 145,971 Adjusted EBITDA $ 383,963 * EBITDA and adjusted EBITDA are non-GAAP financial measures. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. EBITDA represents net income before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before unrealized losses (gains) on derivative contracts and stock-based compensation expense. EBITDA and adjusted EBITDA are presented because we believe they provide additional useful information to investors due to the various noncash items during the period. EBITDA and adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Some of these limitations are: EBITDA and adjusted EBITDA do not reflect cash expenditures, or future requirements for capital expenditures, or contractual commitments; EBITDA and adjusted EBITDA do not reflect changes in, or cash requirements for, working capital needs; EBITDA and adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on debt or cash income tax payments; Although depreciation and amortization are noncash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and adjusted EBITDA do not reflect any cash requirements for such replacements; and Other companies in this industry may calculate EBITDA and adjusted EBITDA differently than Vertex Energy does, limiting its usefulness as a comparative measure. VERTEX ENERGY, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 31, 2018 December 31, 2017 ASSETS Current assets Cash and cash equivalents $ 52,876 $ 1,105,787 Accounts receivable, net 11,237,297 11,288,991 Federal income tax receivable 274,423 — Inventory 8,112,625 6,304,842 Prepaid expenses 2,635,727 1,771,832 Total current assets 22,312,948 20,471,452 Noncurrent assets Fixed assets, at cost 65,541,421 65,237,652 Less accumulated depreciation (17,673,342 ) (16,617,824 ) Fixed assets, net 47,868,079 48,619,828 Goodwill and other intangible assets, net 14,047,119 14,499,354 Deferred tax asset — 274,423 Other assets 492,417 440,417 TOTAL ASSETS $ 84,720,563 $ 84,305,474 LIABILITIES, TEMPORARY EQUITY, AND EQUITY Current liabilities Accounts payable and accrued expenses $ 11,465,453 $ 10,318,738 Dividends payable 554,917 420,713 Capital leases-current 9,698 — Current portion of long-term debt, net of unamortized finance costs 1,158,196 1,616,926 Derivative liability 466,828 — Revolving note 4,239,388 4,591,527 Total current liabilities 17,894,480 16,947,904 Long-term liabilities Long-term debt, net of unamortized finance costs 14,744,333 13,531,179 Capital leases-long-term 19,923 Contingent consideration 236,680 236,680 Derivative liability 2,677,159 2,245,408 Total liabilities 35,572,575 32,961,171 COMMITMENTS AND CONTINGENCIES (Note 3) — — TEMPORARY EQUITY Series B Convertible Preferred Stock, $0.001 par value per share; 10,000,000 shares designated, 3,479,016 and 3,427,597 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively with a liquidation preference of $10,784,950 and $10,625,551 at March 31, 2018 and December 31, 2017, respectively. 7,583,722 7,190,467 Series B1 Convertible Preferred Stock, $0.001 par value per share; 17,000,000 shares designated, 12,947,916 and 13,151,989 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively, with a liquidation preference of $20,198,749 and $20,517,103 at March 31, 2018 and December 31, 2017, respectively. 15,659,226 15,769,478 Total Temporary Equity 23,242,948 22,959,945 EQUITY 50,000,000 Preferred shares authorized: Series A Convertible Preferred Stock, $0.001 par value; 5,000,000 shares designated, 453,567 and 453,567 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively, with a liquidation preference of $675,815 and $675,815 at March 31, 2018 and December 31, 2017, respectively. 454 454 Series C Convertible Preferred Stock, $0.001 par value; 44,000 shares designated, 31,568 and 31,568 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively, with a liquidation preference of $3,156,800 and $3,156,800 at March 31, 2018 and December 31, 2017, respectively. 32 32 Common stock, $0.001 par value per share; 750,000,000 shares authorized; 33,158,176 and 32,658,176 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively. 33,158 32,658 Additional paid-in capital 68,693,980 67,768,509 Accumulated deficit (43,272,128 ) (39,816,300 ) Total Vertex Energy, Inc. stockholders' equity 25,455,496 27,985,353 Non-controlling interest 449,544 399,005 Total Equity $ 25,905,040 $ 28,384,358 TOTAL LIABILITIES, TEMPORARY EQUITY, AND EQUITY $ 84,720,563 $ 84,305,474 VERTEX ENERGY, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended March 31, 2018 2017 Revenues $ 41,368,195 $ 34,770,614 Cost of revenues (exclusive of depreciation and amortization shown separately below) 34,588,749 30,701,554 Gross profit 6,779,446 4,069,060 Operating expenses: Selling, general and administrative expenses 5,645,442 5,229,837 Depreciation and amortization 1,694,099 1,600,060 Total operating expenses 7,339,541 6,829,897 Loss from operations (560,095 ) (2,760,837 ) Other income (expense): Interest income — 1,952 Gain (loss) on sale of assets 42,680 (13,100 ) Gain (loss) on change in value of derivative liability (431,751 ) 920,672 Gain (loss) on futures contracts (456,402 ) — Interest expense (802,515 ) (1,336,487 ) Total other income (expense) (1,647,988 ) (426,963 ) Loss before income tax (2,208,083 ) (3,187,800 ) Income tax benefit (expense) — — Net loss (2,208,083 ) (3,187,800 ) Net income attributable to non-controlling interest 50,539 8,607 Net loss attributable to Vertex Energy, Inc. (2,258,622 ) (3,196,407 ) Accretion of discount on Series B and B-1 Preferred Stock (457,853 ) (433,201 ) Accrual of dividends on Series B and B-1 Preferred Stock (739,354 ) (417,636 ) Net loss available to common shareholders $ (3,455,829 ) $ (4,047,244 ) Loss per common share Basic and diluted $ (0.10 ) $ (0.12 ) Shares used in computing earnings per share Basic and diluted 33,063,732 32,953,812 VERTEX ENERGY, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS THREE MONTHS ENDED MARCH 31, 2018 AND 2017 (UNAUDITED) Three Months Ended March 31, 2018 March 31, 2017 Cash flows from operating activities Net loss $ (2,208,083 ) $ (3,187,800 ) Adjustments to reconcile net loss to cash provided by (used in) operating activities Stock based compensation expense 145,971 148,736 Depreciation and amortization 1,694,099 1,600,060 (Gain) loss on sale of assets (42,680 ) 13,100 (Increase) decrease in fair value of derivative liability 431,751 (920,672 ) (Increase) decrease in future contracts 456,402 — Net cash settlements on commodity derivatives (763,997 ) — Amortization of debt discount and deferred costs 143,477 318,512 Changes in operating assets and liabilities Accounts receivable 51,694 3,934,346 Inventory (1,807,783 ) (381,981 ) Prepaid expenses (89,472 ) 1,273,772 Accounts payable and accrued expenses 1,146,716 (1,322,370 ) Other assets (52,000 ) (253,000 ) Net cash provided by (used in) operating activities (893,905 ) 1,222,703 Cash flows from investing activities Acquisition of Acadiana — (320,700 ) Purchase of fixed assets (490,361 ) (1,100,962 ) Proceeds from sale of fixed assets 75,230 62,594 Net cash provided by (used in) investing activities (415,131 ) (1,359,068 ) Cash flows from financing activities Payment of debt issuance costs — (1,656,350 ) Line of credit (payments) proceeds, net (352,139 ) (1,818,744 ) Proceeds from note payable 1,667,426 12,160,194 Payments on note payable (1,059,162 ) (10,241,622 ) Net cash provided by (used in) financing activities 256,125 (1,556,522 ) Net change in cash, cash equivalents and restricted cash (1,052,911 ) (1,692,887 ) Cash, cash equivalents, and restricted cash at beginning of the period 1,105,787 3,206,158 Cash, cash equivalents, and restricted cash at end of period $ 52,876 $ 1,513,271 SUPPLEMENTAL INFORMATION Cash paid for interest $ 477,583 $ 260,352 Cash received for income tax benefit $ — $ — NON-CASH INVESTING AND FINANCING TRANSACTIONS Conversion of Series A Preferred Stock into common stock — 30 Conversion of Series B-1 Preferred Stock into common stock $ 779,500 $ 119,440 Accretion of discount on Series B and B-1 Preferred Stock $ 457,853 $ 433,201 Dividends-in-kind accrued on Series B and B-1 Preferred Stock $ 739,354 $ 417,636 Return of common shares for sale escrow $ — $ 1,109 Investor Relations Contact: Marlon Nurse, D.M. Senior Vice President 212-564-4700 Source: Vertex Companies

http://www.cnbc.com/2018/05/15/globe-newswire-vertex-energy-inc-announces-2018-first-quarterafinancial-results.html

European markets seen lower amid political turmoil in Italy

Italy stocks close 2.6% lower on political turmoil as European markets slump Investors are fearful of the looming prospect of fresh elections in Italy this year. Spanish Prime Minister Mariano Rajoy is due to face a confidence vote over his leadership on Friday. Dixons Carphone tumbled to the bottom of the European benchmark after it issued a profit warning. Updated 3 Hours Ago CNBC.com European stocks closed lower Tuesday amid renewed fears of a euro zone break-up risk in Italy and political turmoil in Spain. Symbol IBEX 35 --- The pan-European Stoxx 600 closed 1.37 percent lower provisionally, with all major bourses and every sector apart from oil in negative territory. Among national indexes, Italy's FTSE MIB fell 2.65 percent, amid renewed political pain. The euro zone's third-largest economy has been without a government since an inconclusive vote in early March, with anti-establishment political groups abandoning their efforts to form a coalition over the weekend amid a dispute with the country's head of state. Meanwhile, Spain's IBEX 35 was also off by almost 2.5 percent following news the country's Prime Minister, Mariano Rajoy, is due to face a confidence vote over his leadership on Friday. The announcement compounded political volatility in southern Europe. Europe's banking index led the losses Tuesday, off almost 3.2 percent, on pace for its worst day since August 2, 2016. Spanish lenders Banco Santander and Caixabank and Italian lender Unicredit were among the worst performers in the sector. Looking at individual stocks, Dixons Carphone tumbled to the bottom of the European benchmark after it issued a profit warning. The British retailer said profit would fall by 21 percent in the current year, with 92 standalone stores also set to close. Its shares were more than 20.7 percent lower on the news. Oil prices mixed On Wall Street, stocks traded lower on fears that instability could return to the euro zone. The single currency was seen trading at $1.1555, down 0.58 percent. On the data front, Italian consumer confidence fell in May to 113.7 points, down from 116.9 the previous month, while French consumer confidence stood at 100 points, unchanged from the April level. Elsewhere, oil prices fell Tuesday, amid rising expectations that major producers could soon reverse some of their ongoing production cuts. Brent crude traded at around $74.94, down almost half a percent while U.S. WTI stood at $66.34, down more than 2 percent.

https://www.cnbc.com/2018/05/29/european-stocks-political-turmoil-in-italy-unsettles-markets.html

Ichor Holdings, Ltd. Announces Financial

FREMONT, Calif.--(BUSINESS WIRE)-- Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid and gas delivery subsystems for semiconductor capital equipment, today announced financial results for the first quarter of fiscal year 2018. Highlights for the first quarter of 2018: Record Revenues and Strong Growth. Revenues set a new quarterly record of $258 million, up 41% quarter-over-quarter and up 74% from the first quarter of 2017; Increasing Margins. With GAAP gross margin of 16.5%, non-GAAP gross margin increased 1.2 percentage points from the prior quarter to a record 18.3%. Operating margin was 8.0% on a GAAP basis, and reached a new record of 13.3% on a non-GAAP basis, up 2.1 percentage points from the prior quarter; Record Earnings. Net earnings were $0.63 per diluted share on a GAAP basis, and set a new quarterly record of $1.03 per diluted share on an adjusted non-GAAP basis, up 47% quarter-over-quarter and up 81% from the first quarter of 2017. “We are very pleased to report stronger-than-expected financial results for the first quarter, in which we achieved new records in revenue, gross margin, operating margin, and earnings per share,” commented Tom Rohrs, Chairman and CEO of Ichor. “We continue to outperform industry spending, with revenue growth well outpacing investments in wafer fab equipment, while continuing to deliver on our objective to grow earnings faster than revenues. Our strategic acquisitions are contributing to our strong revenue growth and expanding margins, and our first-quarter profitability is showing solid progress toward our financial model targets. “We recently announced the acquisition of IAN Engineering, providing us with a key strategic foothold in the rapidly-growing semiconductor equipment market in South Korea,” continued Mr. Rohrs. “We expect IAN will be yet another driver of revenue outperformance beginning in the second half of 2018, and certainly as we look ahead to 2019. Together with our previous acquisitions of Cal-Weld and Talon, as well as our proprietary liquid delivery platform, all of these businesses significantly expand our served markets and provide meaningful opportunities to expand our market share, enabling continued revenue growth and outperformance relative to industry spending. “Our outlook for 2018 has strengthened since last quarter, both in terms of revenue growth and profitability,” concluded Mr. Rohrs. Our greater market share, higher revenue volume, and increased gross margin are enabling us to make increased investments in manufacturing capacity to support our customers’ increasing demand for our solutions. While the second quarter is expected to moderate slightly from the record first quarter results, our first half revenues at the midpoint will be up 46% over the second half of 2017, and up 64% over the same period last year, and we fully expect full-year revenues to again outpace industry spending, with even higher growth expected in earnings.” Q1 2018 Q4 2017 Q1 2017 (in thousands, except per share amounts and percentages) U.S. GAAP Financial Results: Net sales $ 258,029 $ 182,936 $ 148,704 Gross profit percent 16.5 % 15.9 % 16.1 % Operating income percent 8.0 % 6.7 % 9.2 % Net income from continuing operations $ 16,721 $ 19,195 $ 12,952 Diluted EPS $ 0.63 $ 0.72 $ 0.51 Q1 2018 Q4 2017 Q1 2017 (in thousands, except per share amounts and percentages) Non-GAAP Financial Results: Net sales $ 258,029 $ 182,936 $ 148,704 Gross profit percent 18.3 % 17.1 % 16.2 % Operating income percent 13.3 % 11.2 % 10.5 % Adjusted net income from continuing operations $ 27,450 $ 18,640 $ 14,567 Diluted EPS $ 1.03 $ 0.70 $ 0.57 U.S. GAAP Financial Results Overview For the first quarter of 2018, revenue was $258.0 million, net income from continuing operations was $16.7 million, and net income from continuing operations per diluted share (“diluted EPS”) was $0.63. This compares to revenue of $182.9 million and $148.7 million, net income from continuing operations of $19.2 million and $13.0 million, and diluted EPS of $0.72 and $0.51, for the fourth and first quarters of 2017, respectively. Non-GAAP Financial Results Overview For the first quarter of 2018, non-GAAP adjusted net income from continuing operations was $27.5 million and non-GAAP adjusted diluted EPS was $1.03. This compares to non-GAAP adjusted net income from continuing operations of $18.6 million and $14.6 million, and non-GAAP adjusted diluted EPS of $0.70 and $0.57, for the fourth and first quarters of 2017, respectively. Second Quarter 2018 Financial Outlook For the second quarter of 2018, we expect revenue to be in the range of $244 to $254 million. We expect GAAP diluted EPS to be in the range of $0.77 to $0.86 and non-GAAP adjusted diluted EPS to be in the range of and $0.91 to $1.00. This outlook for non-GAAP adjusted diluted EPS excludes known charges related to amortization of intangible assets, share-based compensation expense, tax adjustments related to these non-GAAP adjustments, and non-recurring charges known at the time of providing this outlook. This outlook for non-GAAP adjusted diluted EPS excludes any items that are unknown at this time, such as non-recurring tax-related items or other unusual items which we are not able to predict without unreasonable efforts due to their inherent uncertainty. Balance Sheet and Cash Flow Results At March 30, 2018, we had cash of $63.8 million. The net decrease in cash of $5.5 million during the first quarter of 2018 was primarily due to capital expenditures of $3.7 million, net cash used in financing activities of $1.1 million, and net cash used in operating activities of $0.8 million. We used $0.8 million of cash in operating activities during the first quarter of 2018 due to a net increase of $27.3 million in our net operating assets and liabilities, partially offset by net income of $16.7 million and net non-cash charges of $9.7 million. Non-cash charges primarily consist of $5.8 million in depreciation and amortization and $3.8 million in share-based compensation expense. The increase in net operating assets and liabilities was primarily due to an increase in accounts receivable of $26.4 million, due to increased sales volume and timing of shipments and customer payments during the quarter, and an increase in inventories of $10.5 million, due to increased materials purchases to support demand, partially offset by an increase in accounts payable of $8.7 million. Cash used in investing activities during the first quarter of 2018 of $3.7 million was from capital expenditures to support current and future growth. Net cash used in financing activities was $1.1 million due to share repurchases of $5.0 million and debt issuance costs of $2.1 million in connection with the refinancing of our credit facilities in February 2018, partially offset by $3.4 million in proceeds related to issuances of ordinary shares under our share-based compensation plans and $2.6 million in net borrowing of long-term debt in connection with the refinancing. Use of Non-GAAP Financial Results In addition to U.S. GAAP results, this press release also contains non-GAAP financial results, including non-GAAP gross profit, non-GAAP operating margin, non-GAAP adjusted net income from continuing operations, and non-GAAP adjusted diluted EPS. These non-GAAP metrics excluded amortization of intangible assets, share-based compensation expense, tax adjustments related to those non-GAAP adjustments, tax benefits from acquisitions, and non-recurring charges, to the extent they are present in gross profit, operating margin, and net income from continuing operations. A table showing these metrics on a GAAP and non-GAAP basis, with reconciliation footnotes thereto, is included at the end of this press release. Non-GAAP adjusted diluted EPS is defined as non-GAAP adjusted net income from continuing operations divided by weighted average diluted ordinary shares outstanding during the period. Management uses non-GAAP gross profit, non-GAAP operating margin, non-GAAP adjusted net income from continuing operations, and non-GAAP adjusted diluted EPS to evaluate our operating and financial results. We believe the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view our results from management’s perspective. A table presenting the reconciliation of non-GAAP adjusted net income from continuing operations to U.S. GAAP net income from continuing operations is also included at the end of this press release. Conference Call We will conduct a conference call to discuss our first quarter 2018 results and business outlook on May 8, 2018, at 1:30 p.m. Pacific time. To listen to the conference call via the Internet, please visit the investor relations section of our web site at ir.ichorsystems.com . To listen to the conference call via telephone, please call 844-395-9251 (domestic) or 478-219-0504 (international), conference ID: 6287553. A taped replay of the webcast will be available shortly after the call on our website or by calling 855-859-2056 (domestic) or 404-537-3406 (international), conference ID: 6287553. About Ichor We are a leader in the design, engineering and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment. Our product offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices. Our gas delivery subsystems deliver, monitor and control precise quantities of the specialized gases used in semiconductor manufacturing processes such as etch and deposition. Our chemical delivery subsystems precisely blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes such as chemical-mechanical planarization, electroplating, and cleaning. We also manufacture precision machined components, weldments, and proprietary products for use in fluid delivery systems for direct sales to our customers. We also manufacture certain components for internal use in fluid delivery systems and for direct sales to our customers. This vertically integrated portion of our business is primarily focused on metal and plastic parts that are used in gas and chemical systems, respectively. We are headquartered in Fremont, CA. www.ichorsystems.com . We use a 52 or 53 week fiscal year ending on the last Friday in December. The three months ended March 30, 2018, December 29, 2017, and March 31, 2017 were all 13 weeks. References to the first quarter of 2018, fourth quarter of 2017, and first quarter of 2017 relate to the three months ended March 30, 2018, December 29, 2017, and March 31, 2017, respectively. Safe Harbor Statement Certain statements in this release are " " made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "guidance," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," “look forward,” and similar expressions are used to identify these . Examples of include, but are not limited to, statements regarding expected revenue, growth, earnings, profitability, and industry outperformance for the second quarter and second half of 2018 and 2019, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on management’s current expectations and assumptions regarding Ichor’s business and industry, the economy and other future conditions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Accordingly, you are cautioned not to place undue reliance on these , which speak only as of the date they are made. Many factors could cause actual results to differ materially and adversely from these , including: (1) dependence on expenditures by manufacturers and cyclical downturns in the semiconductor capital equipment industry, (2) reliance on a very small number of original equipment manufacturers for a significant portion of sales, (3) negotiating leverage held by our customers, (4) competitiveness and rapid evolution of the industries in which we participate, (5) risks associated with weakness in the global economy and geopolitical instability, (6) keeping pace with developments in the industries we serve and with technological innovation generally, (7) designing, developing and introducing new products that are accepted by original equipment manufacturers in order to retain our existing customers and obtain new customers, (8) managing our manufacturing and procurement process effectively, (9) defects in our products that could damage our reputation, decrease market acceptance and result in potentially costly litigation, (9) dependence on a limited number of suppliers and (10) the integration of recent acquisitions with Ichor, including the ability to retain customers, suppliers and key employees. Additional information concerning these and other factors can be found in Ichor's filings Commission (the “SEC”), including other risks, relevant factors and uncertainties identified in the "Risk Factors" section of Ichor's Annual Report on Form 10-K filed with the SEC on March 13, 2018, and subsequent filings with the SEC. All in this press release are based upon information available to us as of the date hereof, and qualified in their entirety by this cautionary statement. We undertake or revise any contained herein, whether as a result of actual results, changes in Ichor’s expectations, future events or developments, or otherwise, except as required by law. ICHOR HOLDINGS, LTD. Consolidated Balance Sheets (dollars in thousands, except per share amounts) (unaudited) March 30, 2018 December 29, 2017 Assets Current assets: Cash $ 63,796 $ 68,794 Restricted cash — 510 Accounts receivable, net 76,199 49,249 Inventories, net 164,623 154,541 Prepaid expenses and other current assets 5,260 5,357 Current assets from discontinued operations — 3 Total current assets 309,878 278,454 Property and equipment, net 36,286 34,380 Other noncurrent assets 782 1,052 Deferred tax assets 994 994 Intangible assets, net 69,526 73,405 Goodwill 168,412 169,399 Total assets $ 585,878 $ 557,684 Liabilities and Shareholders’ Equity Current liabilities: Accounts payable $ 130,383 $ 121,405 Accrued liabilities 11,492 12,211 Other current liabilities 7,137 6,715 Current portion of long-term debt 6,563 6,490 Current liabilities from discontinued operations — 400 Total current liabilities 155,575 147,221 Long-term debt, less current portion, net 181,042 180,247 Deferred tax liabilities 10,628 10,558 Other non-current liabilities 2,950 2,896 Total liabilities 350,195 340,922 Shareholders’ equity: Preferred shares ($0.0001 par value; 20,000,000 shares authorized; zero shares issued and outstanding) — — Ordinary shares ($0.0001 par value; 200,000,000 shares authorized; 26,083,585 and 25,892,162 shares outstanding, respectively; 26,279,335 and 25,892,162 shares issued, respectively) 3 3 Additional paid in capital 221,897 214,697 Treasury shares (195,750 and zero shares, respectively) (5,000 ) — Retained earnings 18,783 2,062 Total shareholders’ equity 235,683 216,762 Total liabilities and shareholders’ equity $ 585,878 $ 557,684 ICHOR HOLDINGS, LTD. Consolidated Statement of Operations (dollars in thousands, except per share amounts) (unaudited) Three Months Ended March 30, 2018 December 29, 2017 March 31, 2017 Net sales $ 258,029 $ 182,936 $ 148,704 Cost of sales 215,430 153,892 124,689 Gross profit 42,599 29,044 24,015 Operating expenses: Research and development 2,452 2,213 1,744 Selling, general, and administrative 15,711 11,530 6,858 Amortization of intangible assets 3,879 3,062 1,795 Total operating expenses 22,042 16,805 10,397 Operating income 20,557 12,239 13,618 Interest expense 2,504 1,173 690 Other expense (income), net 241 199 (549 ) Income from continuing operations before income taxes 17,812 10,867 13,477 Income tax expense (benefit) from continuing operations 1,091 (8,328 ) 525 Net income from continuing operations 16,721 19,195 12,952 Discontinued operations: Loss from discontinued operations before taxes — (1 ) (111 ) Income tax expense (benefit) from discontinued operations — (270 ) 1 Net income (loss) from discontinued operations — 269 (112 ) Net income $ 16,721 $ 19,464 $ 12,840 Net income per share from continuing operations: Basic $ 0.64 $ 0.75 $ 0.53 Diluted $ 0.63 $ 0.72 $ 0.51 Net income per share: Basic $ 0.64 $ 0.76 $ 0.52 Diluted $ 0.63 $ 0.73 $ 0.50 Shares used to compute net income from continuing operations per share: Basic 26,030,298 25,702,231 24,654,415 Diluted 26,734,710 26,656,065 25,640,089 Shares used to compute net income per share: Basic 26,030,298 25,702,231 24,654,415 Diluted 26,734,710 26,656,065 25,640,089 ICHOR HOLDINGS, LTD. Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended March 30, 2018 March 31, 2017 Cash flows from operating activities: Net income $ 16,721 $ 12,840 Adjustments to reconcile net income to net cash used in operating activities: Depreciation and amortization 5,752 2,485 Gain on sale of investments and settlement of note receivable — (241 ) Share-based compensation 3,791 344 Deferred income taxes (127 ) (75 ) Amortization of debt issuance costs 333 132 Changes in operating assets and liabilities, net of assets acquired: Accounts receivable, net (26,350 ) (22,661 ) Inventories (10,470 ) (20,063 ) Prepaid expenses and other assets 370 (1,505 ) Accounts payable 8,731 17,904 Accrued liabilities (974 ) (2,202 ) Other liabilities 1,439 1,365 Net cash used in operating activities (784 ) (11,677 ) Cash flows from investing activities: Capital expenditures (3,668 ) (2,274 ) Proceeds from sale of investments and settlement note receivable — 2,430 Net cash provided by (used in) investing activities (3,668 ) 156 Cash flows from financing activities: Issuance of ordinary shares, net of fees — 7,277 Issuance of ordinary shares under share-based compensation plans 3,409 — Repurchase of ordinary shares (5,000 ) — Debt issuance and modification costs (2,092 ) — Borrowings on revolving credit facility 7,162 — Repayments on term loan (4,535 ) — Net cash provided by (used in) financing activities (1,056 ) 7,277 Net decrease in cash (5,508 ) (4,244 ) Cash at beginning of year 69,304 52,648 Cash at end of quarter $ 63,796 $ 48,404 Supplemental disclosures of cash flow information: Cash paid during the period for interest $ 1,297 $ 1,409 Cash paid during the period for taxes $ 230 $ 14 Supplemental disclosures of non-cash activities: Capital expenditures included in accounts payable $ 834 $ 1,585 ICHOR HOLDINGS, LTD. Reconciliation of U.S. GAAP Net Income from Continuing Operations to Non-GAAP Adjusted Net Income from Continuing Operations (dollars in thousands, except per share amounts) (unaudited) Three Months Ended March 30, 2018 December 29, 2017 March 31, 2017 Net income from continuing operations $ 16,721 $ 19,195 $ 12,952 Non-GAAP adjustments: Amortization of intangible assets 3,879 3,062 1,795 Share-based compensation (1) 3,791 694 344 Other non-recurring expense (income), net (2) 1,439 2,239 (500 ) Tax adjustments related to non-GAAP adjustments (2,904 ) (564 ) (24 ) Tax benefit from acquisitions (3) — (2,301 ) — Tax impact from tax law change (4) — (5,911 ) — Fair value adjustment to inventory from acquisitions (5) 4,524 2,226 — Non-GAAP adjusted net income from continuing operations $ 27,450 $ 18,640 $ 14,567 Non-GAAP adjusted diluted EPS $ 1.03 $ 0.70 $ 0.57 Shares used to compute diluted EPS 26,734,710 26,656,065 25,640,089 (1) Included in share-based compensation for the first quarter of 2018 is $2.9 million associated with accelerating the vesting of our former CFO’s outstanding stock options and restricted shares pursuant to his separation benefits that became effective in January 2018. (2) Included in this amount for the first quarter of 2018 are (i) separation benefits for our former CFO that became effective in January 2018 and (ii) acquisition-related expenses. Included in this amount for the fourth quarter of 2017 are (i) acquisition-related expenses, (ii) executive search expenses incurred in connection with replacing the our CFO, and (iii) expenses incurred in connection with sales or other dispositions of our ordinary shares by affiliates of Francisco Partners (“FP”). Included in this amount for the first quarter of 2017 are (i) a refund from FP Consulting and (ii) a gain on sale of our investment in CHawk. (3) We recorded a preliminary $2.3 million tax benefit in the fourth quarter of 2017 in connection with our acquisition of Talon. (4) This adjustment represents the impact of U.S. corporate tax reform. (5) As part of our preliminary purchase price allocations for our acquisitions of Talon in December 2017 and Cal-Weld in July 2017, we recorded inventory at fair value, resulting in a fair value step-up to acquired inventory of $6.2 million and $3.6 million, respectively. These amounts were released to cost of sales as inventory was sold during the respective quarters. ICHOR HOLDINGS, LTD. U.S. GAAP and Non-GAAP Summary Consolidated Statements of Operations (in thousands) (unaudited) Quarter Ended Quarter Ended Quarter Ended March 30, 2018 December 29, 2017 March 31, 2017 U.S. GAAP Non-GAAP U.S. GAAP Non-GAAP U.S. GAAP Non-GAAP Net sales $ 258,029 $ 258,029 $ 182,936 $ 182,936 $ 148,704 $ 148,704 Cost of sales (1) 215,430 210,776 153,892 151,625 124,689 124,681 Gross profit 42,599 47,253 29,044 31,311 24,015 24,023 Operating expenses (2) 22,042 13,063 16,805 10,851 10,397 8,462 Operating income 20,557 34,190 12,239 20,460 13,618 15,561 Interest expense 2,504 2,504 1,173 1,173 690 690 Other expense (income), net (3) 241 241 199 199 (549 ) (245 ) Income from continuing operations before income taxes 17,812 31,445 10,867 19,088 13,477 15,116 Income tax expense (benefit) from continuing operations (4) 1,091 3,995 (8,328 ) 448 525 549 Net income from continuing operations $ 16,721 $ 27,450 $ 19,195 $ 18,640 $ 12,952 $ 14,567 (1) Non-GAAP cost of sales excludes share-based compensation expense and impacts from a step up in the fair value of acquired inventory in connection with our acquisitions of Talon and Cal-Weld (see footnote 5 on page 8). (2) Non-GAAP operating expenses excludes amortization of intangible assets, share-based compensation expense, and other non-recurring expense (income), net (see footnote 2 on page 8). (3) Non-GAAP other expense (income), net excludes a gain on our sale of our investment in CHawk (see footnote 2 on page 8). (4) Non-GAAP income tax expense from continuing operations excludes the tax benefit recorded from our acquisition of Talon Innovations (see footnote 3 on page 8), the tax impact from U.S. corporate tax reform (see footnote 4 on page 8), and the tax effects of the above non-GAAP, non-tax related adjustments. View source version on businesswire.com : https://www.businesswire.com/news/home/20180508006364/en/ Ichor Holdings, Ltd. Jeff Andreson, 510-897-5200 CFO or Claire McAdams, 530-265-9899 IR IR@ichorsystems.com Source: Ichor Holdings, Ltd.

http://www.cnbc.com/2018/05/08/business-wire-ichor-holdings-ltd-announces-first-quarter-2018-financial-results.html

Sorrell’s new shell tests value of old contacts

LONDON (Reuters Breakingviews) - Martin Sorrell’s exorbitant pay packages at WPP were supposedly justified by the CEO’s intimate knowledge of the advertising business and roster of high-level contacts. Now that the 73-year-old is starting from scratch again that value will be put to the test. Sir Martin Sorrell, Chairman and Chief Executive Officer of advertising company WPP, attends a conference at the Cannes Lions Festival in Cannes, France, June 23, 2017. REUTERS/Eric Gaillard - RC14CDD347A0 Sorrell left WPP just six weeks ago following a probe into alleged personal misconduct, which he denies. He’s put 40 million pounds into a new vehicle called S4 Capital, named after the four generations of his family. The business will soon have a London listing after agreeing a reverse takeover with 2 million pound cash shell Derriston, announced on Wednesday. S4 has raised another 11 million pounds from institutional investors, and has non-binding commitments for a further 150 million pounds of equity funding. That will give Sorrell 200 million pounds of firepower – roughly the same as WPP’s net spend on acquisitions last year - to buy up small marketing, technology and media businesses. Indeed, S4’s focus on “technology, data and content” echoes the M&A section of the 15 billion pound group’s annual report, which Sorrell transformed from a cash shell called Wire and Plastic Products. S4 is no WPP-killer, however. Even assuming it puts all the cash at its disposal to work, its equity value would be about 1 percent of the bigger group’s market capitalisation. And Sorrell’s 1.4 percent shareholding in WPP at the end of March - according to Thomson Reuters data - gives him a 215 million pound incentive not to take too much business away from the company he ran for more than three decades. Nevertheless, the acquisition vehicle will test whether Sorrell’s bulging book of contacts can help find promising young businesses and sell their services to large corporations. In his last three years at WPP the company earned an average annual return on capital employed of 10 percent, using Berenberg estimates. That performance helped justify Sorrell’s controversial 70 million pound pay package for 2015. Yet those returns could have been down to WPP’s scale and huge client base rather than the CEO’s personal input. Sorrell will need to use all his entrepreneurial flair – and shrug off the whiff of impropriety from the still-secret misconduct allegations – to prove that S4 is more than a shell. Breakingviews Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com . All opinions expressed are those of the authors. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Advertise with Us Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

https://www.reuters.com/article/us-derriston-cap-sorrell-breakingviews/breakingviews-sorrells-new-shell-tests-value-of-old-contacts-idUSKCN1IV233

Oil and Gas Investor Continues Its Success - Via Its Succession Plan

HOUSTON, May 10, 2018 /PRNewswire/ -- Hart Energy announced a significant leadership change in its flagship Oil and Gas Investor franchise. Effective with the May 2018 issue, Shelley Lamb begins a new role as senior vice president of digital media -- and Kevin Holmes is promoted to publisher of Oil and Gas Investor. Lamb has been the publisher of Hart Energy's flagship publication for over 17 years. In her time leading Oil and Gas Investor and its many affiliated custom projects and events, Shelley has elevated the brand to be the premier information franchise of the energy business. Her tireless work ethic and demand for excellence will serve her well in this new venture. "Shelley is not going anywhere," said Rich Eichler, Hart Energy's CEO. "This is a great time to change leadership, and Kevin is absolutely the right person to take the magazine forward. We're asking Shelley to use her leadership and business experience to further secure Hart Energy's position as the global energy industry's comprehensive digital source for news, data and analysis that inform business and technology decisions." Eichler continues, "Taking over the reins of Oil and Gas Investor as its new publisher is Kevin Holmes. In his four years at Hart, Kevin has distinguished himself as one of the company's top brand development executives. He truly understands the value of the Investor brand. Kevin is well-respected by his clients and he is constantly thinking of ways to add value to their marketing spend. Kevin will be a new level of energy to the franchise as we look to expand our reach to the future leaders of the industry." About Hart Energy Since 1973, Hart Energy has provided timely and targeted information to a worldwide audience that includes E&P companies, pipeline operators, refiners and finished fuel producers, service companies, the financial and investment community, engineering and automotive industries, utilities, leading NGOs and the world's major governments. For information, visit hartenergy.com . Contact: Kate Clark 713.260.4657 View original content with multimedia: http://www.prnewswire.com/news-releases/oil-and-gas-investor-continues-its-success---via-its-succession-plan-300646133.html SOURCE Hart Energy

http://www.cnbc.com/2018/05/10/pr-newswire-oil-and-gas-investor-continues-its-success--via-its-succession-plan.html

Britain's competition refers SSE- Npower deal for in-depth investigation

May 8 (Reuters) - Britain’s competition watchdog has ordered an in-depth investigation of the merger of SSE’s retail power and gas business in the UK with German rival Innogy’s Npower, the office said on Tuesday. The Competition and Markets Authority said the initial Phase 1 investigation found that the deal could reduce competition, potentially leading to higher prices for some bill payers. ( bit.ly/2KIlttK ) SSE and Npower did not offer measures to address the CMA’s concerns, and so it has referred the merger for a more in-depth, Phase 2 investigation, the watchdog said. A decision on the SSE-Npower merger will now be made by a group of independent panel members supported by a case team of CMA staff, CMA said. The deadline for the final report is Oct. 22, it added. (Reporting by Arathy S Nair in Bengaluru; editing by Patrick Graham)

https://www.reuters.com/article/sse-innogy-cma/britains-competition-refers-sse-npower-deal-for-in-depth-investigation-idUSL3N1SF2O7

Bradley Cribbins Named President/Chief Executive Officer Of Alliance Residential Company's Management Division

PHOENIX, May 30, 2018 /PRNewswire/ -- Alliance Residential Company is pleased to announce the promotion of Bradley Cribbins to President/Chief Executive Officer of Alliance's management division. With 25 years of industry experience, Cribbins joined the Alliance family in July 2007 as Managing Director of Asset Management for the Broadstone portfolio. He was later promoted to Senior Vice President of Operations, overseeing the Southwest and Mountain regions, and in 2012 was named Executive Vice President/Chief Operating Officer of the management division. In 2016, he became President/Chief Operating Officer and is now taking a well-deserved step to President/Chief Executive Officer of the management team. Prior to joining Alliance, Cribbins was the Vice President of Operations for a leading regional owner/manager in the Pacific Northwest. He also held a key leadership role in two start-up ventures providing technology services to the industry. "Throughout his career at Alliance, Brad has excelled in his focus to drive strategic leadership across the organization," said Bruce Ward, Chairman/CEO of Alliance. "This has produced innovative, forward-thinking teams who are doing things differently in the multifamily space to elevate the Alliance brand and drive our thoughtful, intentional growth." Under Cribbins' leadership, Alliance has consistently delivered strong asset performance for its owned assets and managed clients, and has led the team to many notable company-wide achievements. Within the past year, two major milestones were reached – Alliance broke the 100,000 managed units mark, now sitting at more than 104,000 units under management nationwide, and made its way into the ranks of the top five largest management companies in the nation. As the company drives forward with its 2020 vision to reach 150,000 managed units, Cribbins will continue to challenge the teams to drive alignment, and focus on how talent and teamwork set the management company apart as an elite service provider. This will ensure Alliance continues to deliver exceptional performance and results portfolio-wide. To learn more about Alliance, visit www.allresco.com . About Alliance Residential Company Alliance is the fourth-largest multifamily manager and fourth most-active multifamily developer in the nation. As an integrated multifamily real estate company, Alliance is focused on the development, management, construction and acquisition of residential and mixed-use communities. Developer of the high-profile Broadstone communities, Alliance is headquartered in Phoenix with 35 regional offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. MEDIA CONTACT: Danielle Clark Director of Public Relations & Communications 602.522.5760 | dclark@allresco.com View original content with multimedia: http://www.prnewswire.com/news-releases/bradley-cribbins-named-presidentchief-executive-officer-of-alliance-residential-companys-management-division-300656268.html SOURCE Alliance Residential Company

http://www.cnbc.com/2018/05/30/pr-newswire-bradley-cribbins-named-presidentchief-executive-officer-of-alliance-residential-companys-management-division.html

Activision Blizzard reports 15.7 percent rise in adjusted revenue

May 3, 2018 / 7:27 PM / a minute ago Activision Blizzard reports 15.7 percent rise in adjusted revenue Reuters Staff 1 Min Read (Reuters) - Activision Blizzard Inc reported a 15.7 percent rise in first-quarter adjusted revenue on Thursday, helped by robust sales for its blockbuster videogame, “Call of Duty”. FILE PHOTO: The Activision booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake/File Photo The company’s profit rose to $500 million, or 65 cents per share, in the quarter ended March 31, from $426 million, or 56 cents per share, a year earlier. Total adjusted revenue rose to $1.38 billion from $1.20 billion. Shares of the company were halted after Dow Jones inadvertently published the results ahead of time. Reporting by Arjun Panchadar in Bengaluru; Editing by Arun Koyyur

https://uk.reuters.com/article/us-activision-results/activision-blizzard-reports-15-7-percent-rise-in-adjusted-revenue-idUKKBN1I42GY

Tennis-Staging back-to-back ITF and ATP events is 'insane' - ATP chief

May 16, 2018 / 6:07 AM / Updated 11 hours ago Staging back-to-back ITF and ATP events is 'insane' - ATP chief Reuters Staff 2 Min Read (Reuters) - Holding two world team events within a short period of time is an “insane” idea, according to Association of Tennis Professionals (ATP) President Chris Kermode. The ATP has proposed a revamped World Team Cup, starting in 2020, in partnership with Tennis Australia that will be held before the Australian Open in January. The International Tennis Federation (ITF) has also planned a overhaul of the Davis Cup, leading to the formation of the World Cup of Tennis that could start at the end of November next year. If both competitions are approved, men’s players will end their season at the World Cup of Tennis and after a very short break, start preparing for the World Team Cup and the following grand slam. Kermode believes it would be very taxing. “It doesn’t make any sense to have two team events. Personally I think that would be insane. Let’s just hope that doesn’t happen,” Kermode, who is also the ATP’s executive chairman, told BBC Sport. “... Davis Cup is a sports entity that has been around for hundreds of years and we value it. “Equally the World Team Cup was an event we had for 35 years. It’s been off the shelf for a while, but could we bring that back? I think there’s clearly a demand for a huge team event that anyone can buy into.” He said the ATP and ITF had held talks but failed to find a solution so far. The 53-year-old believes that the decision over which tournament goes ahead will be based on the players’ support for either. Reporting by Aditi Prakash in Bengaluru; Editing by Amlan Chakraborty

https://uk.reuters.com/article/uk-tennis-men-kermode/staging-back-to-back-itf-and-atp-events-is-insane-atp-chief-idUKKCN1IH0GU

U.S. power grid ready for summer, but Calif. & Texas are concerns: FERC

May 17, 2018 / 5:00 PM / Updated an hour ago U.S. power grid ready for summer, but California & Texas are concerns: FERC Reuters Staff 3 Min Read (Reuters) - Most U.S. regions are prepared to meet power and natural gas demand this summer, but shortages are possible in Southern California due to low hydropower and gas supplies and Texas following the retirement of several coal plants, federal energy regulators said in a report on Thursday. In Southern California, staff at the U.S. Federal Energy Regulatory Commission (FERC) said lower-than-average hydro generation may create challenges as natural gas-fired generation - the replacement for hydro production shortfalls in past years - may be limited due to reduced gas storage capacity and local pipeline outages in the region. Nationwide, the staff said North American reliability coordinators forecast demand for electricity from the grid would be about the same as last summer due to increased use of demand response programs to reduce usage and distributed energy resources like home solar panels. If the forecasts for warmer than normal weather this summer are correct, the report said gas burned to produce electricity could top 2016’s record high due to the addition of over 16,000 megawatts of new gas-fired generation and low gas prices, making gas a cheaper fuel than coal in many regions. One megawatt can power about 1,000 U.S. homes. The report said energy firms were expected to add over 25,000 MW of mostly gas and renewable generation through the end of the summer. That new capacity will replace much of the roughly 14,000 MW of generation that has retired since May 2017, including about 10,800 MW of coal-fired capacity. But the new plants are not necessarily located where the old plants retired. The shutdown over the past six months of the 1,187-MW Big Brown, 1,980-MW Monticello and 1,282-MW Sandow coal plants in Texas helped cut its reserve margin to 10.92 percent, which is below the grid’s 13.75 percent target. The Texas grid operator, the Electric Reliability Council of Texas (ERCOT), said it expects to have sufficient operational tools to manage tight reserves and maintain system reliability. Those tools include using a previously mothballed power plant, imports from other regions and consumer conservation and demand response efforts. In California, the grid operator said it also expects to use demand response programs and consumer conservation to mitigate tight supply conditions this summer. Gas supplies in Southern California are expected to remain tight this summer due to limitations on Aliso Canyon, the biggest gas storage field in the state, and gas pipeline outages and reductions. Reporting by Scott DiSavino; Editing by Marguerita Choy

https://www.reuters.com/article/us-usa-power-reliability-ferc/u-s-power-grid-ready-for-summer-but-calif-texas-are-concerns-ferc-idUSKCN1II2HL

Greek February unemployment inches up to 20.8 pct, eurozone's highest

ATHENS, May 10 (Reuters) - Greece’s jobless rate inched up to 20.8 percent in February from an upwardly revised 20.7 percent in the previous month, data from the country’s statistics service ELSTAT showed on Thursday. Seasonally adjusted data showed the number of unemployed at 978,072 people, with younger persons aged up to 24 bearing the brunt of being out of work. Among younger persons aged 15 to 24, the jobless rate eased to 45.4 percent from 46.4 percent in the same month in 2017. Greece’s jobless rate, which hit a record high of 27.9 percent in September 2013, has been coming down since but remains the highest in the euro zone. The government expects the unemployment rate to fall to 18.4 percent this year, based on projections in its 2018 budget. Unemployment in the 19 countries sharing the euro was stable at 8.5 percent in March according to Eurostat. (Reporting by Karolina Tagaris)

https://www.reuters.com/article/eurozone-greece-unemployment/greek-february-unemployment-inches-up-to-20-8-pct-eurozones-highest-idUSEONI530TB

Norway appeals court to hear case against Hexagon CEO

May 9, 2018 / 4:02 PM / in 9 minutes Norway appeals court to hear case against Hexagon CEO Reuters Staff 1 Min Read OSLO, May 9 (Reuters) - A Norwegian appeals court has agreed to an appeal by prosecutors against the acquittal of Hexagon Chief Executive Ola Rollen over insider trading charges, it said on Wednesday. At the original trial, prosecutors asked for an 18-month prison term for Rollen’s 2015 purchase of shares in Norway’s Next Biometrics, a company not connected to Hexagon. One of Sweden’s best known business leaders, Rollen was unanimously acquitted by an Oslo court on Jan. 10. He maintained his innocence during the trial and continued to run the company he has led since 2000. Reporting by Terje Solsvik; Editing by Elaine Hardcastle

https://www.reuters.com/article/hexagon-ab-ceo-trial/norway-appeals-court-to-hear-case-against-hexagon-ceo-idUSL8N1SG7WW

IIROC Trading Halt / Suspension de la negociation par l'OCRCVM - PTM (All Issues)

TORONTO, May 03, 2018 (GLOBE NEWSWIRE) -- The following issues have been halted by IIROC / L’OCRCVM a suspendu la négociation des titres suivants : Company / Société : Platinum Group Metals Ltd. TSX Symbol / Symbole TSX : PTM (All Issues) Reason / Motif : Pending News / Nouvelle en attente Halt Time (ET) / Heure de la suspension (HE) 3:38 PM ET / 15 h 38 (HE) IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. L’OCRCVM peut prendre la décision de suspendre (ou d’arrêter) temporairement les opérations à l’égard d’un titre d’une société cotée en bourse. Les arrêts des opérations sont mis en oeuvre afin d’assurer le bon fonctionnement d’un marché équitable. L’OCRCVM est l’organisme d’autoréglementation national qui surveille l’ensemble des courtiers en placement et l’ensemble des opérations effectuées sur les marchés des titres de capitaux propres et les marchés des titres de créance au Canada. Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only. Veuillez prendre note que l'OCRCVM n'est pas en mesure de fournir d'informations supplementaires au sujet d'une suspension des negociations en particulier. L'information est restreinte aux questions generales. IIROC Inquiries 1-877-442-4322 (Option 2) Source:Investment Industry Regulatory Organization of Canada

http://www.cnbc.com/2018/05/03/globe-newswire-iiroc-trading-halt-suspension-de-la-negociation-par-locrcvm--ptm-all-issues.html

U.S. 30-year mortgage rates hit 7-year peak - Freddie Mac

May 17, 2018 / 2:25 PM / Updated 19 minutes ago U.S. 30-year mortgage rates hit 7-year peak: Freddie Mac Reuters Staff 2 Min Read NEW YORK (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages rose to the highest in seven years as a bond market selloff this week propelled 10-year yields to the highest since July 2011, Freddie Mac said on Thursday. FILE PHOTO: An advertisement for two-family homes is seen outside an oceanside community in the Rockaway area of the Queens borough of New York, September 16, 2015. REUTERS/Shannon Stapleton/File Photo Higher borrowing costs have not yet caused a meaningful squeeze on the housing market, as underlying demand remains solid, Freddie Mac chief economist Sam Khater said. “While this year’s higher mortgage rates have not caused much of a ripple in the strong demand levels for buying a home seen in most markets, inflationary pressures and the prospect of rates approaching 5 percent could begin to hit the psyche of some prospective buyers,” he said in statement. Thirty-year mortgage rates averaged 4.61 percent in the week ended May 17, matching the level last seen in May 2011. A week earlier, 30-year rates averaged 4.55 percent, the U.S. mortgage finance agency said. Average 15-year mortgage rates rose to 4.08 percent in the latest week from 4.01 percent, while interest rates on five-year adjustable mortgages averaged 3.82 percent, up from 3.77 percent a week earlier, Freddie Mac said. Worries about rising inflation and government borrowing lifted the 10-year Treasury yield US10YT=RR to 3.122 percent earlier Thursday, the highest since July 2011, Reuters data showed. To view a graphic on U.S. 10-year bond yield vs 30-year mortgage rate, click: reut.rs/2ENzSFO Reporting by Richard Leong; Editing by Bernadette Baum and Chris Reese

https://www.reuters.com/article/us-usa-mortgages-freddie-mac/u-s-30-year-mortgage-rates-hit-7-year-peak-freddie-mac-idUSKCN1II23M

FACTBOX-Cricket-Reaction to retirement of AB de Villiers from international cricket

May 23, 2018 / 1:43 PM / Updated 14 minutes ago FACTBOX-Cricket-Reaction to retirement of AB de Villiers from international cricket Reuters Staff 4 Min Read May 23 (Reuters) - South African batsman AB de Villiers announced his retirement from all three formats of international cricket on Wednesday. His decision, which came as a surprise ahead of next year’s Cricket World Cup in England, has provoked worldwide reaction, particularly from India where he is known as ‘Mr 360’ for his ability to play shots all around the wicket. The following is reaction to his departure: CEO of Cricket South Africa Chris Nenzani said in a statement: “AB is one of the all-time greats of South African cricket who has thrilled spectators around the world with his sheer brilliance, coupled to his ability to innovate and take modern day batting in all three formats but particularly in the white ball ones to new levels. “What is probably more important is the inspiration he has been to his team mates whether playing at international or domestic level and the wonderful role model he has been to all our aspiring youngsters. It goes without saying that he is going to be greatly missed wherever international cricket is played.” Former South Africa wicketkeeper Mark Boucher tweeted: “I remember this young guy on his first day out for the Proteas. What an inspiration, person and player, he turned out to be. Thank you for everything you have done for your country, teammates and fans.” Former Sri Lanka batsman Mahela Jayawardena tweeted: “One of the best! Wish you all the best AB. Amazing player, but above all that great guy...” Cricket broadcaster Harsha Bhogle tweeted: “Must admit to being a bit shocked by AB de Villiers’ decision to quit all international cricket. We knew it was coming but I thought he would give the World Cup another shot.” Former India seam bowler RP Singh tweeted: “The man who showed the world that batting 360° is an easy task. All the best for your future endeavours AB de Villiers, thank you for all the unforgettable memories!” Former South Africa fast bowler Allan Donald tweeted: “So shocked to hear AB de Villiers has decided to call time on his international career. But that’s just life and he feels it’s time to move on. Thank you great man for your amazing match-winning performances, skillful captaincy and most of all your humility.” Former England captain Michael Vaughan tweeted: “Such a shame for international cricket. But he has been an unbelievable advert to how I would have loved to have played all three formats ... GREAT GREAT player ... top three that I have ever seen.” Former South Africa spin bowler Paul Harris tweeted: “What a great career. Best I have ever seen. Was great to be a part of it AB de Villiers. Nou gaan ons braai (now we are going to barbeque).” Former India batsman Mohammad Kaif tweeted: “One of the all time greats of the game, many congratulations AB de Villiers on an outstanding career. The (Roger) Federer of cricket, the most loved cricketer on the planet. Wish you the best for your future endeavours.” Australia women’s international Alex Blackwell tweeted: “True legend. Finishing on top and allowing next generation to step up. The way AB found innovative ways to dominate bowling attacks was an inspiration.” Former India batsman Aakash Chopra tweeted: “The biggest entertainer in the last decade has bid goodbye to International cricket. Your absence will be felt, AB. Cricket will be poorer.” De Villiers’ Indian Premier League side Royal Challengers Bangalore tweeted: “Sudden but we’re confident there was immense thought and contemplation behind the decision. You have to come back to Bengaluru in 2019.” (Compiled by Nick Said Editing by Christian Radnedge)

https://uk.reuters.com/article/cricket-safrica-devilliers/factbox-cricket-reaction-to-retirement-of-ab-de-villiers-from-international-cricket-idUKL5N1SU4TR

Zoetis to buy Abaxis for $1.9 bln in cash

May 16, 2018 / 11:17 AM / Updated 35 minutes ago Zoetis to buy veterinary diagnostics firm Abaxis for $1.9 billion Tamara Mathias 3 Min Read (Reuters) - Top animal health company Zoetis Inc ( ZTS.N ) will buy Abaxis Inc ( ABAX.O ) for $1.9 billion, looking to capture a bigger slice of the fast-growing market for diagnostics services that cater to household pets and farm animals. FILE PHOTO: Zoetis CEO Juan Ramon Alaix gives an interview following his company's IPO on the floor of the New York Stock Exchange, February 1, 2013. REUTERS/Brendan McDermid The deal announced Wednesday reflects Zoetis’ expectation that the diagnostics category will grow at a faster pace than the broader animal health industry. Abaxis — which makes blood and urine tests to predict, detect and treat diseases such as heartworm, Lyme disease or tick-borne infections — will also help its New Jersey-based acquirer bolster its presence in overseas markets. Zoetis faces much lesser competition internationally than in the United States, its Chief Executive Officer Juan Alaix said on a conference call with analysts. “The characteristic of patients in animal health is that they don’t speak. So in our industry, almost every animal getting into clinics needs to have a diagnostic test,” Alaix said. The veterinary diagnostics market worldwide is expected grow to $3.6 billion in 2022 from $2.3 billion in 2017, according to research firm MarketsandMarkets here By contrast, the global animal medicines and vaccines market is worth around $30 billion, according to veterinary consultancy Vetnosis. Much of Zoetis’ revenue is driven by its animal dermatology business, and diagnostics contribute just under 1 percent of its overall annual revenue of more than $5 billion. On Wednesday, Zoetis’ shares fell 0.5 percent, while shares of IDEXX Laboratories Inc ( IDXX.O ), Abaxis’ biggest competitor, fell 3.7 percent. “We believe this is a good deal for Zoetis although the valuation seems high,” BMO Capital Markets analyst Alex Arfaei said. Shares of Abaxis rose as much as 16 percent to an all-time high of $83.24, inching past Zoetis’ all-cash offer price of $83 per share. At seven times Abaxis’ annual revenue, the price Zoetis is paying is already “pretty steep,” said C.L. King and Associates analyst David Westenberg. “If there’s another bidder, I don’t think Zoetis would go any higher,” he said. However, should there be a rival offer, the companies most likely to make a bid would be Eli Lilly and Co’s ( LLY.N ) animal health unit Elanco or candy and pet food company Mars Inc, Westenberg said. Other possible bidders include dental supply firms Henry Schein Inc ( HSIC.O ) and Patterson Companies Inc ( PDCO.O ), which also have animal health divisions, he added. Zoetis plans to fund the acquisition through cash and new debt. It expects the deal to close before the end of the year and Abaxis to add to its earnings in 2019. Reporting by Tamara Mathias in Bengaluru; Editing by Anil D'Silva and Sai Sachin Ravikumar

https://www.reuters.com/article/us-abaxis-m-a-zoetis/zoetis-to-buy-abaxis-for-1-9-billion-in-cash-idUSKCN1IH1CK

U.S. drillers add most rigs in week and month since Feb -Baker Hughes

(Reuters) - U.S. energy companies added the most oil rigs in both a week and a month since February as drillers continued to return to the well pad with crude prices at their highest since late 2014. FILE PHOTO: Oil rigs are seen in Midland, Texas May 9, 2008. REUTERS/Jessica Rinaldi The total oil rig count rose by 15 to 859 in the week to May 25, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. For the month, the rig count rose by 34, its second increase in row, after rising 28 in April. More than half the total oil rigs are in Permian basin in west Texas and eastern New Mexico, the nation’s biggest shale oil field. Active units there increased by 10 this week to 477, the most since January 2015. That was the biggest weekly increase in the basin since February. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 722 rigs were active as energy companies have been ramping up production in tandem with OPEC’s efforts to cut global output in a bid to take advantage of rising prices. On Friday, however, U.S. crude futures fell by almost $3 to around $68 a barrel after OPEC and Russia said they were considering an increase in output. Earlier in the week, U.S. crude traded over traded over $72, their highest since November 2014. [O/R] Looking ahead, crude futures were trading around $67 for the balance of 2018 and around $63 for calendar 2019. In anticipation of higher prices, U.S. financial services firm Cowen & Co this week said the exploration and production (E&P) companies they track have provided guidance indicating a 13 percent increase this year in planned capital spending. Cowen said those E&Ps expect to spend a total of $81.2 billion in 2018, up from an estimated $72.1 billion in 2017. Cowen, which conducts its own count, said the total number of land oil and gas rigs fell by 13 this week to 1,057 due to private operators broadly distributed outside the major basins. Cowen noted the count in the Permian, the nation’s biggest shale oil basin, was flat week-over-week. That compares with 1,040 in the Baker Hughes land rig count. Analysts at Simmons & Co, energy specialists at U.S. investment bank Piper Jaffray, last week forecast average total oil and natural gas rig count would rise to 1,020 in 2018 and 1,125 in 2019. The Simmons forecast includes both land and offshore rigs. So far this year, the total number of oil and gas rigs active in the United States has averaged 990, up sharply from 2017’s average of 876. That keeps the total count on track to be the highest since 2014, which averaged 1,862 rigs. Most rigs produce both oil and gas. Reporting by Scott DiSavino; Editing by Marguerita Choy

https://www.reuters.com/article/us-usa-rigs-baker-hughes/u-s-drillers-add-most-rigs-in-week-and-month-since-feb-baker-hughes-idUSKCN1IQ2MY

Doctors who treated Skripals uncertain about their long-term health

LONDON (Reuters) - The doctors who treated a Russian former spy and his daughter after they were poisoned with a nerve agent in Britain say they don’t know what the pair’s long term health outlook is - and initially feared the incident could have been much worse. Sergei Skripal, a former colonel in Russia’s military intelligence who betrayed dozens of agents to Britain, and daughter Yulia were found unconscious on a public bench in the southern English city of Salisbury on March 4. Staff at Salisbury hospital, where they were treated, told the BBC that some started to wonder whether they too would fall victim to the nerve agent. Asked about the long term impact of the poisoning on the Skripals health, the hospital’s medical director, Christine Blanshard, said the prognosis was uncertain. “The honest answer is we don’t know,” she said, according to extracts of an interview released by the BBC’s Newsnight program. Britain has said that it is highly likely that Russia was responsible for the poisoning of the Skripals, and western governments, including the United States, have expelled more than 100 Russian diplomats. Russia has denied any involvement in the poisoning and retaliated in kind. Yulia Skripal spoke to Reuters last week, saying her recovery had been “slow and extremely painful” and that she was lucky to have survived. Hospital staff too said that they expected the Skripals would die as a result of the poisoning. “All the evidence was there that they would not survive,” said Stephen Jukes, an intensive care consultant who treated the Skripals a week after they arrived at the hospital. He added that the medical team initially suspected the Skripals were suffering an opioid overdose before the diagnosis quickly changed. The cathedral city of Salisbury was transformed by the incident, with major shopping areas cordoned off while decontamination of locations the Skripals visited took place. A policeman was admitted to hospital with symptoms after attending to the Skripals, and hospital staff feared that the incident might have been far more serious than first thought. “When the (policeman) was admitted with symptoms - there was a real concern as to how big could this get,” Lorna Wilkinson, director of nursing at the hospital, said, adding she feared it could have “become all-consuming and involve many casualties” “We really didn’t know at that point.” FILE PHOTO: Ambulances and a police car are parked outside the emergency room at Salisbury District Hospital, Britain, March 6, 2018. REUTERS/Toby Melville/File Photo Reporting by Alistair Smout; Editing by Toby Chopra

https://www.reuters.com/article/us-britain-russia-skripal-salisbury/doctors-who-treated-skripals-uncertain-about-their-long-term-health-idUSKCN1IT259

Mateon Therapeutics Reports First Quarter 2018 Financial Results

SOUTH SAN FRANCISCO, Calif., May 14, 2018 (GLOBE NEWSWIRE) -- Mateon Therapeutics, Inc. (OTCQX:MATN), a biopharmaceutical company developing investigational drugs for the treatment of orphan oncology indications, today announced first quarter 2018 financial results. For the three months ended March 31, 2018, Mateon reported a net loss of $0.8 million, a decrease of $3.2 million from the net loss of $4.0 million reported for the three months ended March 31, 2017. R&D expenses decreased to $0.2 million for the first three months of 2018 compared to $2.8 million for the same period in 2017, while general and administrative expenses decreased to $0.6 million for the first three months of 2018 compared to $1.1 million for the same period in 2017. At March 31, 2018, Mateon had cash and cash equivalents of $0.2 million. In April 2018, Mateon raised net proceeds of approximately $2.4 million in a private placement financing transaction. “During the first quarter of 2018 our efforts were focused on obtaining capital so that we could advance our product candidates,” said William D. Schwieterman, M.D., Chief Executive Officer of Mateon Therapeutics. “After receiving the initial funds from our April financing transaction, we authorized our clinical investigators to resume screening new patients into our clinical study of OXi4503 in relapsed/refractory acute myeloid leukemia and myelodysplastic syndromes. Based on our encouraging preclinical data, we are also planning for a new clinical study of CA4P as an immuno-oncology agent in combination with Opdivo® – initially evaluating the combination in advanced melanoma patients who have not responded to currently approved treatments.” About Mateon Mateon Therapeutics, Inc. is a biopharmaceutical company developing investigational drugs for the treatment of orphan oncology indications, with programs in acute myeloid leukemia and immuno-oncology. Mateon is committed to leveraging its product development expertise and intellectual property to bring improved and medically necessary new therapies to cancer patients worldwide. Safe Harbor Statement Certain statements in this news release, including, but not limited to, those concerning the use of OXi4503 as a treatment for acute myeloid leukemia and myelodysplastic syndromes, the use of CA4P as an immuno-oncology agent, the planned clinical trials for these applications, the potential significance of this data and its relation to other clinical and pre-clinical studies are considered " " within the meaning of the Private Securities Litigation Reform Act of 1995. They can be affected by inaccurate assumptions Mateon might make or by known or unknown risks and uncertainties, including, but not limited to: the sufficiency of the Company's cash resources to continue in business and to conduct and complete future clinical and pre-clinical trials; the uncertainties as to the future success of ongoing and planned clinical trials; and the unproven safety and efficacy of products under development or that may be developed in the future. Consequently, no forward-looking statement can be guaranteed, and actual results may vary materially. Additional information concerning factors that could cause actual results to materially differ from those in the is contained in Mateon’s reports to the Commission, including Mateon’s reports on Forms 10-Q, 8-K and 10-K. However, Mateon undertakes no obligation to publicly update , whether because of new information, future events or otherwise. CONTACT Matthew M. Loar Mateon Therapeutics, Inc. (650) 635-7000 info@mateon.com FINANCIAL DATA APPEARS BELOW Balance Sheet Data March 31, 2018 December 31, 2017 (all amounts in thousands) Assets Cash $ 233 $ 1,115 Prepaid expenses and other assets 204 57 Total assets $ 437 $ 1,172 Liabilities and stockholders' deficit Accounts payable and accrued liabilities $ 1,524 $ 1,649 Total stockholders' deficit (1,087 ) (477 ) Total liabilities and stockholders' deficit $ 437 $ 1,172 Statement of Operations Data Three months ended March 31, 2018 2017 (all amounts in thousands, except per share data) Operating Expenses: Research and development $ 225 $ 2,848 General and administrative 570 1,122 Total operating expenses 795 3,970 Loss from Operations (795 ) (3,970 ) Interest income 1 14 Other expense - (2 ) Net loss and comprehensive loss $ (794 ) $ (3,958 ) Basic and diluted net loss per common share attributable to common stock $ (0.03 ) $ (0.15 ) Weighted-average number of common shares outstanding 26,545 26,545 Source:Mateon Therapeutics

http://www.cnbc.com/2018/05/14/globe-newswire-mateon-therapeutics-reports-first-quarter-2018-financial-results.html

Streamline Health Names New Sales Leader

ATLANTA, May 15, 2018 /PRNewswire/ -- Streamline Health Solutions, Inc. (NASDAQ: STRM), provider of integrated solutions, technology-enabled services and analytics supporting revenue cycle optimization for healthcare enterprises, today announced it promoted VP Channel Sales leader, Hal Walsh, to lead all sales efforts. Mr. Walsh, who joined the company in early 2016 to lead all reseller partner efforts, has been promoted to Vice President of Sales. Prior to joining Streamline Health, Mr. Walsh spent 15 years with Care Communications, Inc., a revenue cycle and healthcare data quality improvement company with expertise in health information management. During his tenure as Senior Vice President Sales and Marketing, and Senior Vice President, Business Development, Walsh led successful organic revenue growth of between 15 to 30% every year for 13 consecutive years. During that time, Care Communications revenue grew by more than 300%. Since joining Streamline Health, Mr. Walsh has doubled the number of active reseller partners. Streamline Health is committed to leading an industry movement to improve healthcare providers' financial performance by moving mid-to-late revenue cycle interventions upstream, optimizing coding accuracy for every patient encounter prior to bill submission. By improving coding accuracy before billing, providers can reduce lost revenue, mitigate overbill risk, and reduce denials and days in accounts receivable. This enables providers to turn unpredictable revenue cycles into dynamic revenue streams. "Our sales pipeline is very active and we look forward to working with Hal Walsh and the sales team to close more deals going forward. Hal has done a great job of helping us grow the number and quality of our reseller partners, and has been actively involved in selling all of our revenue cycle solutions – from Abstracting and CDI to our new eValuator platform," stated David Sides, President and Chief Executive Officer, Streamline Health. "We are pleased to announce his well-deserved promotion to Vice President, Sales and to lead our growing team of sales professionals throughout the United States and Canada, and we wish Shaun Priest well in his next endeavor." About Streamline Health Streamline Health Solutions, Inc. (NASDAQ: STRM) is a healthcare industry leader in capturing, aggregating, and translating enterprise data into knowledge­ – producing actionable insights that support revenue cycle optimization for healthcare enterprises. We deliver integrated solutions, technology-enabled services and analytics that empower providers to drive revenue integrity in a value-based world. We share a common calling and commitment to advance the quality of life and the quality of healthcare – for society, our clients, the communities they serve, and the individual patient. For more information, please visit our website at www.streamlinehealth.net . Safe Harbor statement under the Private Securities Litigation Reform Act of 1995 Statements made by Streamline Health Solutions, Inc. that are not historical facts are forward-looking statements that are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements included herein. Forward-looking statements contained in this press release include, without limitation, statements regarding the Company's expected sales, bookings, revenue, future investments in sales resources, and related expectations and assumptions. These risks and uncertainties include, but are not limited to, the timing of contract negotiations and execution of contracts and the related timing of the revenue recognition related thereto, the potential cancellation of existing contracts or clients not completing projects included in the backlog, the impact of competitive solutions and pricing, solution demand and market acceptance, new solution development, key strategic alliances with vendors and channel partners that resell the Company's solutions, the ability of the Company to control costs, availability of solutions from third party vendors, the healthcare regulatory environment, potential changes in legislation, regulation and government funding affecting the healthcare industry, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new systems, as well as maintenance of legacy systems, fluctuations in operating results, effects of critical accounting policies and judgments, changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other similar entities, changes in economic, business and market conditions impacting the healthcare industry generally and the markets in which the Company operates and nationally, and the Company's ability to maintain compliance with the terms of its credit facilities, and other risks detailed from time to time in the Streamline Health Solutions, Inc. filings with the U. S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revision to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. Company Contact: Randy Salisbury SVP, Chief Marketing Officer (404) 229-4242 randy.salisbury@streamlinehealth.net View original content with multimedia: http://www.prnewswire.com/news-releases/streamline-health-names-new-sales-leader-300648978.html SOURCE Streamline Health, Inc.

http://www.cnbc.com/2018/05/15/pr-newswire-streamline-health-names-new-sales-leader.html

Flushing Financial Corporation Declares Quarterly Dividend of $0.20 per Share

UNIONDALE, N.Y., May 30, 2018 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq:FFIC), the parent holding company for Flushing Bank (the “Bank”), today announced that the Board of Directors (the “Board”) declared a quarterly dividend on its common stock of $0.20 per common share, payable on June 29, 2018 to shareholders of record at the close of business on June 11, 2018. John R. Buran, the Company’s President and Chief Executive Officer, stated: “We remain extremely well-positioned to deliver sustainable profitable growth given our continued deposits growth, investments in talent and innovation and risk management philosophy. As a result, our strong financial performance and capital position support the Company’s decision to declare quarterly cash dividend payouts to shareholders. The Board will continue to review future dividend payouts on a quarterly basis as part of our commitment to enhance the total return to our shareholders.” FLUSHING FINANCIAL CORPORATION (Nasdaq:FFIC) is the holding company for Flushing Bank®, a New York State-chartered commercial bank insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of deposit, loan, equipment finance, and cash management services through its banking offices located in Queens, Brooklyn, Manhattan, and Nassau County. As a leader in real estate lending, the Bank’s experienced lending team creates mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. Flushing Bank is an Equal Housing Lender. The Bank also operates an online banking division, consisting of iGObanking.com® which offers competitively priced deposit products to consumers nationwide and BankPurely® our eco-friendly, healthier lifestyle community brand. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “forecasts”, “goals”, “potential” or “continue” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements. Additional information on Flushing Financial Corporation may be obtained by visiting the Company’s web site at http://www.flushingbank.com . CONTACT: Susan K. Cullen Senior Executive Vice President and Chief Financial Officer Flushing Financial Corporation (718) 961-5400 Source:Flushing Financial Corporation

http://www.cnbc.com/2018/05/30/globe-newswire-flushing-financial-corporation-declares-quarterly-dividend-of-0-point-20-per-share.html

In show of continuity, Castro flanks new Cuban leader at May Day rally

HAVANA (Reuters) - At Cuba’s first major political rally since Raul Castro handed the presidency over to his protege Miguel Diaz-Canel, the two men stood side-by-side overseeing Havana’s May Day march on Tuesday in a show of continuity and unity on the Communist-run island. Cuba's First Secretary of the Communist Party and former President Raul Castro (2-R), Cuba's President Miguel Diaz-Canel (2-L), First Secretary of the Communist Party in Havana Lazara Mercedes Lopez (L) and president of the Communist Party of Chile Guillermo Teillier watch the May Day rally in Havana, Cuba, May 1, 2018. REUTERS/Alexandre Meneghini Cuba’s government has been at pains to stress that the historic transition that took place on April 19 does not herald change to one of the world’s last state-run economies and one-party systems, to the frustration of some and relief of others. While Castro has retired from government, the 86-year-old remains head of the all-powerful Communist Party and speakers at the meticulously state-orchestrated rally referred to him before they did to Diaz-Canel. Hundreds of thousands paraded at the break of day through Revolution Square to the tune of marching bands, waving Cuban flags and banners reading “United for our Socialism” and “Viva Fidel” in reference to Castro’s late older brother, Fidel Castro. Together, the Castro brothers led Cuba’s 1959 revolution and ruled the island nation for six decades. A woman carries an image of newly elected Cuban President Miguel Diaz-Canel (L) as former Cuban President Raul Castro raises his hand, during the May Day rally in Havana, Cuba, May 1, 2018. REUTERS/Alexandre Meneghini The rally was a show of support for the revolution, for Castro “and the continuity of his leadership in the state and government presided by comrade Diaz-Canel,” Ulises Guilarte, of the Cuban Workers’ Confederation, said in a speech. Standing side-by-side on a platform under a memorial to independence hero Jose Marti, Castro’s olive green military fatigues and cap contrasted with Diaz-Canel’s casual white shirt and baseball cap. The 58-year-old is the first civilian Cuban leader since the revolution. Feting workers, May Day is especially significant in Cuba, which calls itself a worker-governed society. Buses collect demonstrators before dawn for rallies in cities throughout the country and marchers are organized into blocs of neighbors, workers and students. Slideshow (6 Images) In Havana, Guilarte denounced the “aggressive” behavior of Cuba’s old foe the United States and the “unjust, unequal and exclusive” economic order of the world. He also affirmed Cuban workers’ support for the leftist, embattled governments of Venezuela and Nicaragua, and for imprisoned former Brazilian President Luiz Inacio Lula da Silva The turnout was also a show of workers’ support for the “update of the economic and social model,” Guilarte said, referring to Communist Party’s plan for market reforms to modernize the Soviet-style centrally-planned economy. Diaz-Canel has vowed to continue that plan, launched by Raul Castro, but it is far from complete and looks to face resistance in the party and bureaucracy due to fears of a loss of state control and equality. Some Cubans said they went to the May Day rally to demonstrate support for the new president at a time of renewed U.S.-Cuban tensions under U.S. President Donald Trump. Others said they did not feel motivated to celebrate Labor Day in Cuba, given low wages and rising prices. The average state salary is just $30 per month. “It’s the same as every year,” said Lucia, a 45-year-old schoolteacher who declined to give her full name for fear of reprisals, “and we continue to do the same or sometimes worse.” Additional reporting by Nelson Acosta; Editing by Daniel Flynn and Tom Brown

https://www.reuters.com/article/us-may-day-cuba/in-show-of-continuity-castro-flanks-new-cuban-leader-at-may-day-rally-idUSKBN1I23XF

M&S a bright spot as big oil, miners knock FTSE off record high

May 23, 2018 / 9:21 AM M&S a bright spot as big oil, miners knock FTSE off record high Reuters Staff (For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 down 0.7 pct * Merger chatter livens up UK banks * M&S rises after full-year update * Commodities a drag By Kit Rees LONDON, May 23 (Reuters) - The UK’s top share index nudged lower on Wednesday, weighed down by declines among commodity-related stocks, though well-received results from M&S and deal chatter among British banks kept trading lively. The blue chip FTSE 100 index was down 0.7 percent at 7,823.71 points by 0912 GMT, edging down from the previous session’s record high. Deal-making talk among banks spurred shares in Standard Chartered 1.5 percent higher, the second-biggest FTSE gainer, following a media report that peer Barclays was sounding out possible mergers with rival banks. Shares in Barclays reversed their slight gains from earlier to trade 0.6 percent lower. Sources told Reuters that Barclays has no plans for a tie-up with rival banks. “If Barclays has genuinely been looking into this ... it makes sense for it to do it as a protective measure given that it is facing activist demands and we’ve seen them prove quite successful elsewhere,” Mike van Dulken, head of research at Accendo Markets, said. “But it would be a huge undertaking.” M&A has been a prominent theme among UK stocks this year as the pound remains at subdued levels, with recent moves being CYBG’s takeover bid for Virgin Money, Takeda’s acquisition of Shire and Sainsbury’s deal with Asda. Marks & Spencer was the biggest gainer, up 3.5 percent after the retailer gave a full-year update. While it reported a second straight decline in annual profit and saw like-for-like clothing and home sales fall in the fourth quarter, investors were positive that the retailer had kept its outlook and not cut its dividend. Marks & Spencer is undertaking a programme of store closures to help revitalise the business. Ameet Patel, senior analyst for Northern Trust Capital Markets, said that M&S’ results were solid and highlighted the confident tone in the company’s outlook commentary. “There remains a considerable short base in (M&S) for the all the ‘obvious’ reasons to sell UK retail, which brings with it the potential for squeezes on lack of bad news or even shades of positive news,” added Patel. However, falls among heavyweight miners and oil stocks, in particular, dragged the FTSE lower. Energy stocks took around 30 points off the index as shares in Royal Dutch Shell fell 2.4 percent and BP declined 2 percent as oil prices retreated on the possibility of higher OPEC output weighing on the market. A rise in Brent Crude to $80 per barrel this year has been a big help for both oil majors, with BP up more than 10 percent and Royal Dutch Shell up 7.3 percent year to date. Elsewhere British mid caps, which have also traded at record highs, retreated 0.4 percent. Shares in IT infrastructure and service provider Softcat and Britvic were notable performers, up 7.7 percent and 6.5 percent respectively. Softcat rose after a trading update saying that market conditions and customer demand have both remained robust in the third quarter, while higher demand for healthy drinks boosted Britvic’s half-year revenue. (Reporting by Kit Rees Editing by Andrew Heavens)

https://www.reuters.com/article/britain-stocks/ms-a-bright-spot-as-big-oil-miners-knock-ftse-off-record-high-idUSL5N1SU1ID

Deere & Company Raises Dividend

MOLINE, Ill., May 30, 2018 /PRNewswire/ -- The Deere & Company (NYSE: DE) Board of Directors today increased the company's quarterly dividend to $.69 per share on common stock. The dividend is payable August 1, 2018, to stockholders of record on June 29, 2018. The new quarterly rate represents an additional 9 cents per share over the previous level – an increase of 15 percent. "Today's announcement reaffirms our confidence in the company's present direction and our belief that Deere will continue to deliver significant long-term value to investors and customers," said Samuel R. Allen, chairman and chief executive officer. "We remain committed that the more durable business model now in place at Deere will result in strong financial performance throughout the business cycle." Deere & Company ( www.JohnDeere.com ) is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land. Since 1837, John Deere has delivered innovative products of superior quality built on a tradition of integrity. Forward-Looking Statements Certain statements in this report are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to future events and financial performance. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated (expressed or implied) by such forward-looking statements, because of, among other things, the risks and uncertainties found in the Company's press releases and other SEC filings, including the risk factors identified under the heading "Risk Factors" in the "Management's Discussion and Analysis of Results of Operations and Financial Condition" in the Company's most recent Annual Report on Form 10-K, as well as the Company's Quarterly Reports on Form 10-Q. View original content: http://www.prnewswire.com/news-releases/deere--company-raises-dividend-300656547.html SOURCE Deere & Company

http://www.cnbc.com/2018/05/30/pr-newswire-deere-company-raises-dividend.html

Facebook users unite! "Data Labour Union" launches in Netherlands

AMSTERDAM, May 23 (Reuters) - Activists in Amsterdam on Wednesday launched the 'Datavakbond' or "data labor union," which hopes to elect leaders to negotiate directly with Facebook and Google over what they do with users' data. Possible demands could include payment for the data users supply to the companies, more information about how the data is used, and a direct channel for communicating grievances. "Right now, we work for Google and Facebook producing data, and we're getting feathers and beads in exchange," said Paul Tang, a member of European Parliament from the Dutch Labour party, at the union's establishment in Amsterdam. "What we want...is to get across the table from Google and Facebook to talk about reasonable compensation, or at least better working conditions." Tang said that although governments have a role in regulating the internet giants, users should also organize themselves and seek to influence the companies directly. The Union's founding chairman Bas van der Gaag, a high school maths teacher, said that although it is based in the Netherlands, it hopes to win members internationally. Membership is free, and those that join will be encouraged to help craft the organization. Later they may vote on specific demands, for instance for the company to provide a paid, but advertising-free, version of Facebook. Within the first hour of its launch, 250 people joined. Van der Gaag said volunteers are working on tools to make it possible for the union to organize a 'strike', which would involve temporarily depriving the companies of some of the most valuable information they sell to advertisers, such as location data. Facebook CEO Mark Zuckerberg testified in European Parliament on Tuesday to answer questions about how political consultancy Cambridge Analytica improperly got hold of the personal data of 87 million Facebook users, including up to 2.7 million in the EU. Facebook did not immediately respond on Wednesday to a request for comment on the establishment of the union. (Reporting by Toby Sterling Editing by Alexandra Hudson)

https://www.cnbc.com/2018/05/23/reuters-america-facebook-users-unite-data-labour-union-launches-in-netherlands.html

UPDATE 1-Rosneft boosts clout in Iraqi Kurdistan with gas pipeline deal

(Adds detail) By Dmitry Zhdannikov ST PETERSBURG, May 25 (Reuters) - Russian state oil major Rosneft signed a deal to help Kurdistan develop its gas reserves and build a gas pipeline, expanding the company’s dominance in the energy sector of Iraq’s semi-autonomous region. Rosneft said it would conduct a pre-FEED (front engineering and design) of a gas pipeline in Kurdistan as part of its plan to build an integrated gas business value chain in the region. It said it would focus on partnerships and third-party project financing for gas projects in Kurdistan. Rosneft has agreed to invest billions of dollars in Kurdistan’s oil projects in the past two years including securing control of the region’s oil pipeline. That pipeline gave Rosneft access to crucial infrastructure that ships most of the region’s oil to global markets via Turkish territory. It made the Kremlin-controlled firm the biggest investor in the region by far, turning Erbil, traditionally a strong U.S. ally, into an important partner for Moscow as Russian President Vladimir Putin seeks to expand influence in the Middle East. Russia chose not to oppose the Kurdistan Regional Government’s failed independence referendum last year, which was dismissed as illegal by Baghdad and caused alarm in Washington, the European Union, Iran and Turkey. Rosneft also said it aimed to produce up to 10,000 barrels per day of oil in Kurdistan by the end of this year. (Reporting by Dmitry Zhdannikov; Editing by Dale Hudson)

https://www.reuters.com/article/rosneft-kurdistan/update-1-rosneft-boosts-clout-in-iraqi-kurdistan-with-gas-pipeline-deal-idUSL5N1SW28W

RPT-UPDATE 2-Australia's Healthscope gets $3.3 bln Brookfield approach, sparking bid war hopes

May 14, 2018 / 5:07 AM / Updated 11 minutes ago RPT-UPDATE 2-Australia's Healthscope gets $3.3 bln Brookfield approach, sparking bid war hopes Reuters Staff (Repeats story to new subscribers, with no changes to text) * Brookfield indicative offer is at A$2.50 per share * Australia’s BGH & pension fund have proposed A$2.36 per share * Biggest Canadian-Australian M&A deal since 2016 * Healthscope shares rise nearly 5 pct to 2-year high By Byron Kaye SYDNEY, May 14 (Reuters) - Canadian investment firm Brookfield Asset Management made a $3.3 billion approach for Australian hospital group Healthscope, trumping a local buyout proposal and sending shares of the target up to a two-year high on Monday. The approach, disclosed by Healthscope in a statement, sets the scene for a takeover battle for the No. 2 Australian private hospital operator which has seen its shares slide due to high debt and a shift back to public health services after a scandal in the private sector. New Australian private equity player BGH Capital, led by former executives of TPG Capital Management and Macquarie Group Ltd, made an approach worth $3.1 billion on April 26. Pension fund AustralianSuper is partnering BGH in that proposal. Healthscope shares rose 4.9 percent in a flat overall market by midsession. The stock was trading at A$2.59, its highest since April 2016, and higher than Brookfield’s A$2.50 indicative bid, a sign investors expect a bidding war. “The entry of Brookfield adds to bidding tension and (I) expect the BGH-AustralianSuper consortium will most likely increase its offer bid,” said Chris Kallos, a healthcare analyst at Morningstar. The deal would continue Brookfield’s rapid growth in the world’s 12-largest economy. If Brookfield buys Healthscope, it would be the biggest takeover of an Australian company by a Canadian party since a consortium including Brookfield paid A$9 billion for rail and ports giant Asciano in 2016. Brookfield, BGH and AustralianSuper declined to comment. Last week, Canadian landlord NorthWest Healthcare Properties REIT said it paid $312 million for a 10 percent stake in Healthscope. Northwest also declined to comment on Monday. Healthscope, which listed in 2014, said in the statement its board would assess both proposals and update the market on any developments. It added that Brookfield’s proposal came with a condition that effectively meant AustralianSuper was prevented from voting against its offer if the target accepted it. AustralianSuper already has a 14 percent stake in Healthscope. “Ultimately, the support of AustralianSuper is likely to determine the winning bidder,” said Danial Moradi, senior equities strategist at Lonsec Research. “The structure of (Brookfield’s bid) implies that BGH will have to increase their original bid,” he added in an email. Brookfield is being represented by Bank of America Merrill Lynch for the potential transaction, according to Healthscope, while Healthscope has hired UBS. Healthscope was a high-profile listing in 2014, with its shares rising steadily amid hopes that it would benefit from the country’s ageing population and a heavily state-subsidised health system. But investors started selling the stock in 2016 after media reports accused private health insurers, which fund patients for companies like Healthscope, of withholding payouts to policyholders, prompting more patients to opt for the public system. Healthscope, which had embarked on building a new hospital in Sydney’s north, issued two profit warnings, and when BGH lobbed its takeover proposal last month Healthscope shares were trading below their IPO price. ($1 = 1.3236 Australian dollars) (Reporting by Chris Thomas in Bengaluru; Editing by Stephen Coates and Muralikumar Anantharaman)

https://www.reuters.com/article/healthscope-ltd-ma-brookfield-asset/rpt-update-2-australias-healthscope-gets-3-3-bln-brookfield-approach-sparking-bid-war-hopes-idUSL3N1SL2BK

Wave Life Sciences Reports First Quarter 2018 Financial Results and Provides Business Update

CAMBRIDGE, Mass., May 09, 2018 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a biotechnology company focused on delivering transformational therapies for patients with serious, genetically-defined diseases, today announced financial results for the first quarter ended March 31, 2018, and provided a business update. “The strong momentum we achieved in 2017 with our clinical development programs and as an organization continued through the first quarter,” said Paul Bolno, MD, MBA, Chief Executive Officer and President of Wave Life Sciences. “We are seeing significant interest from patients and the medical community in our first three clinical studies in Huntington’s disease and Duchenne muscular dystrophy and look forward to initiating three additional development programs by the end of the year.” First Quarter Highlights and Business Update Ongoing and planned clinical trials on track The PRECISION-HD program, which consists of two global Phase 1b/2a clinical trials evaluating WVE-120101 and WVE-120102 for patients with Huntington’s disease, continues to enroll patients and the company is on track to report topline data in the first half of 2019. The global Phase 1 clinical trial, testing WVE-210201 for the treatment of Duchenne muscular dystrophy (DMD) patients amenable to exon 51 skipping, continues to enroll patients. Safety data from the trial are anticipated in the third quarter of 2018. The company intends to initiate clinical trials of WVE-3972-01 in amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD) in the fourth quarter of 2018. Wave’s next DMD development program will target exon 53, with clinical trials expected to initiate in the first quarter of 2019. Wave’s manufacturing facility completes inaugural good manufacturing practice (GMP) campaigns Wave is now producing clinical material in the GMP manufacturing suite at its Lexington, Massachusetts facility. The company recently completed manufacturing runs and material from these campaigns will support the development programs, including those for ALS and FTD. In July 2017, Wave took occupancy of the new facility which was designed to provide greater independence and flexibility in conducting clinical trials, secure material for current and future development activities and provide the capability for commercial-scale manufacturing. The company is continuing to build out the 90,000-square foot facility with process development, quality control and analytical development laboratories. Takeda collaboration takes effect: at least $230 million in committed cash In April 2018, Wave’s global strategic collaboration with Takeda Pharmaceutical Company Limited to discover, develop and commercialize nucleic acid therapies for disorders of the central nervous system took effect when Wave closed on the issuance and sale of 1,096,892 ordinary shares to Takeda and received aggregate cash proceeds of $60 million. Wave also received an upfront payment of $110 million in cash under the collaboration. In addition, Takeda is required to fund at least $60 million of Wave research over a four-year period to advance multiple preclinical targets. Data presented in April at scientific and medical conferences Wave presented preclinical in vivo data at the European Association for the Study of the Liver’s annual meeting, the International Liver Congress 2018, demonstrating that controlling stereochemistry increases both the duration and the potency of GalNAc-conjugated apolipoprotein C-III (APOC3) antisense oligonucleotides, thereby potentially enhancing the pharmacological properties of stereopure oligonucleotides for APOC3 targeting in the clinic. At the 70th Annual Meeting of the American Academy of Neurology, Dr. Robert H. Brown, Jr., Chair and Professor of Neurology at the University of Massachusetts Medical School, presented data from preclinical studies of WVE-3972-01, Wave’s investigational stereopure antisense oligonucleotide designed to target the pathogenic allele of the C9ORF72 gene for the treatment of ALS and FTD. In preclinical in vivo studies, WVE-3972-01 demonstrated a potent, sustained and preferential knockdown of toxic biomarkers associated with ALS and FTD. Neuromuscular research collaboration with Deep Genomics established to identify novel splicing targets In April, Wave formed a collaboration with Deep Genomics, Inc. to identify novel therapies to be developed by Wave for the treatment of genetic neuromuscular disorders. Under the collaboration, the companies will analyze and test oligonucleotides against potential therapeutic targets within multiple genes implicated in neuromuscular disorders. The collaboration aims to increase the size of patient populations that may be eligible for treatment by expanding the universe of druggable splicing targets beyond DMD and spinal muscular atrophy. Pfizer nominates maximum number of hepatic targets; collaboration moving toward candidate selection On May 7, 2018, Wave announced that Pfizer recently nominated the fourth and fifth final hepatic targets under the collaboration agreement between the two companies to develop genetically targeted therapies for the treatment of metabolic hepatic diseases, such as nonalcoholic steatohepatitis. Once candidates have been developed, Pfizer may elect to exclusively license the programs and undertake further development and potential commercialization. First Quarter 2018 Financial Results and Financial Guidance Wave reported a net loss of $35.2 million in the first quarter of 2018 as compared to $21.1 million in the same period in 2017. The increase in net loss in the first quarter of 2018 was primarily driven by increases in research and development efforts, infrastructure investments and employee headcount to support Wave’s corporate goals. Research and development expenses were $29.2 million in the first quarter of 2018 as compared to $14.7 million in the same period in 2017. The increase in research and development expenses in the first quarter of 2018 was primarily driven by increases in research, preclinical and clinical investments, further expansion of our manufacturing capabilities and facility-related expenses to continue to advance Wave’s expanding pipeline. General and administrative expenses were $8.0 million in the first quarter of 2018 as compared to $5.9 million in the same period in 2017. The increase in general and administrative expenses in the first quarter of 2018 was primarily driven by the continued growth in Wave’s employee headcount, as well as increases in facility-related expenses and other general operating expenses. Wave ended the first quarter of 2018 with $110.5 million in cash and cash equivalents as compared to $142.5 million as of December 31, 2017. The decrease in cash and cash equivalents in the first quarter of 2018 was primarily the result of Wave’s quarterly net loss of $35.2 million. The company expects that its cash and cash equivalents, together with the $170.0 million of cash received from Takeda in April 2018, will enable it to fund its operating and capital expenditure requirements to the end of 2020. About Wave Life Sciences Wave Life Sciences is a biotechnology company focused on delivering transformational therapies for patients with serious, genetically-defined diseases. Its chemistry platform enables the creation of highly specific, well characterized oligonucleotides designed to deliver superior efficacy and safety across multiple therapeutic modalities. The company’s pipeline is initially focused on neurological disorders and extends across several other therapeutic areas. For more information, please visit www.wavelifesciences.com . Forward-Looking Statements This press release contains forward-looking statements concerning our goals, beliefs, expectations, strategies, objectives and plans, and other statements that are not necessarily based on historical facts, including statements regarding the following, among others: the anticipated commencement, patient enrollment, data readouts and duration of our clinical trials; the protocol, design and endpoints of our clinical trials; the future performance and results of our programs in clinical trials; the progress and potential benefits of our collaborations with partners; the potential of our in vitro and in vivo preclinical data to predict the behavior of our compounds in humans in clinical trials; our identification of future candidates and their therapeutic potential; the anticipated therapeutic benefits of our potential therapies compared to others; our advancing of therapies across multiple modalities and the anticipated benefits of that strategy; the anticipated benefits of our manufacturing process and our internal manufacturing facility; our future growth; the potential benefits of our stereopure compounds compared with stereorandom compounds, our drug discovery platform and nucleic acid therapeutics generally; and the anticipated duration of our cash runway. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including the following: the ability of our preclinical programs to produce data sufficient to support our clinical trial applications and the timing thereof; our ability to continue to build and maintain the company infrastructure and personnel needed to achieve our goals; the clinical results of our programs, which may not support further development of product candidates; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials; our effectiveness in managing future clinical trials and regulatory processes; the success of our platform in identifying viable candidates; the continued development and acceptance of nucleic acid therapeutics as a class of drugs; our ability to demonstrate the therapeutic benefits of our candidates in clinical trials, including our ability to develop candidates across multiple therapeutic modalities; our dependence on third parties, including our collaborators and partners; our ability to manufacture drug material; our ability to obtain, maintain and protect intellectual property; our ability to enforce our patents against infringers and defend our patent portfolio against challenges from third parties; our ability to finance our drug discovery and development efforts and to raise additional capital when needed; and competition from others developing therapies for similar uses, as well as the information under the caption “Risk Factors” contained in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) and in other filings we make with the SEC from time to time. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances. WAVE LIFE SCIENCES LTD. UNAUDITED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) March 31, 2018 December 31, 2017 Assets Current assets: Cash and cash equivalents $ 110,491 $ 142,503 Prepaid expenses and other current assets 7,470 7,985 Total current assets 117,961 150,488 Long-term assets: Property and equipment, net 28,778 27,334 Restricted cash 3,612 3,610 Other assets 70 411 Total long-term assets 32,460 31,355 Total assets $ 150,421 $ 181,843 Liabilities, Series A preferred shares and shareholders’ equity Current liabilities: Accounts payable $ 8,014 $ 7,598 Accrued expenses and other current liabilities 6,461 8,898 Current portion of capital lease obligation — 16 Current portion of deferred rent 70 60 Current portion of deferred revenue 1,275 1,275 Current portion of lease incentive obligation 478 344 Total current liabilities 16,298 18,191 Long-term liabilities: Deferred rent, net of current portion 4,591 4,214 Deferred revenue, net of current portion 5,819 7,241 Lease incentive obligation, net of current portion 4,185 3,094 Other liabilities 1,605 1,619 Total long-term liabilities 16,200 16,168 Total liabilities $ 32,498 $ 34,359 Series A preferred shares, no par value; 3,901,348 shares issued and outstanding at March 31, 2018 and December 31, 2017 $ 7,874 $ 7,874 Shareholders’ equity: Ordinary shares, no par value; 27,993,337 and 27,829,079 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively $ 311,591 $ 310,038 Additional paid-in capital 26,602 22,172 Accumulated other comprehensive income 165 116 Accumulated deficit (228,309 ) (192,716 ) Total shareholders’ equity $ 110,049 $ 139,610 Total liabilities, Series A preferred shares and shareholders’ equity $ 150,421 $ 181,843 WAVE LIFE SCIENCES LTD. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except share and per share amounts) Three Months Ended March 31, 2018 2017 Revenue $ 1,422 $ 383 Operating expenses: Research and development 29,196 14,740 General and administrative 8,001 5,850 Total operating expenses 37,197 20,590 Loss from operations (35,775 ) (20,207 ) Other income (expense), net: Dividend income 356 290 Interest income (expense), net 7 3 Other income (expense), net 343 (72 ) Total other income (expense), net 706 221 Loss before income taxes (35,069 ) (19,986 ) Income tax provision (172 ) (1,110 ) Net loss $ (35,241 ) $ (21,096 ) Net loss per share attributable to ordinary shareholders—basic and diluted $ (1.26 ) $ (0.90 ) Weighted-average ordinary shares used in computing net loss per share attributable to ordinary shareholders—basic and diluted 27,919,063 23,531,788 Other comprehensive income (loss): Foreign currency translation $ 49 $ 15 Comprehensive loss $ (35,192 ) $ (21,081 ) Investor Contact: Jillian Connell 617-949-2981 jconnell@wavelifesci.com Media Contact: Jose Juves 617-949-4708 jjuves@wavelifesci.com Patient Contact: Wendy Erler 617-949-2898 werler@wavelifesci.com Source:Wave Life Sciences

http://www.cnbc.com/2018/05/09/globe-newswire-wave-life-sciences-reports-first-quarter-2018-financial-results-and-provides-business-update.html

BRIEF-Cotiviti Q1 Earnings Per Share $0.57

May 1 (Reuters) - Cotiviti Holdings Inc: * COTIVITI ANNOUNCES FIRST QUARTER 2018 RESULTS * Q1 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.41 * Q1 REVENUE VIEW $175.2 MILLION — THOMSON REUTERS I/B/E/S * Q1 EARNINGS PER SHARE VIEW $0.41 — THOMSON REUTERS I/B/E/S * SEES 2018 TOTAL NET REVENUE IN A RANGE OF $787 MILLION TO $807 MILLION * SEES 2018 ADJUSTED NET REVENUE IN A RANGE OF $740 MILLION TO $760 MILLION * SEES 2018 NET INCOME IN A RANGE OF $140 MILLION TO $155 MILLION * FY2018 EARNINGS PER SHARE VIEW $1.88, REVENUE VIEW $758.7 MILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-cotiviti-q1-earnings-per-share-057/brief-cotiviti-q1-earnings-per-share-0-57-idUSASC09YTQ

US STOCKS-Wall St gains on Macy's boost, Russell 2000 hits record

* Macy's hits yr-high after results, lifts other retailers * Micron, AMD rise after brokerage actions * 3M slips, weighs on Dow, after brokerage downgrade * 10-yr Treasury yields hold near 7-yr peak * Indexes up: Dow 0.30 pct, S&P 0.52 pct, Nasdaq 0.75 pct (Updates to early afternoon) May 16 (Reuters) - Wall Street rose on Wednesday, with the small cap Russell 2000 index hitting a record, as Macy's strong results lit up the retail sector and Micron led gains in the technology sector. Macy's shares surged 10.5 percent, hitting a 52-week high, after the department store operator reported strong results and raised its profit forecast. The report help boost the consumer discretionary sector , which rose 0.92 percent, while the consumer staples index gained 0.72 percent. Walmart and Nike, both components of the Dow Jones Industrial Average, and Target were up between 1.4 and 3.2 percent. "You had pretty solid numbers from Macy's and it has been an early trigger for outperformance in the retail space today," said Michael James, managing director of institutional equity trading at Wedbush Securities in Los Angeles. Macy's results come a day after strong April retail sales data showed consumer spending was picking up, stoking inflation worries and sending U.S. government bond yields higher. Yields on the U.S. 10-year Treasury notes were holding at seven-year highs on Wednesday, raising concerns of faster interest rate hikes this year. "Higher rates are going to present headwind to equity markets. Even with strong economic data, strong earnings, the markets are still flat year to date," said James. "The question remains what multiples are people willing to pay for equities in this higher rate environment." At 13:01 a.m. EDT the Dow Jones Industrial Average was up 74.22 points, or 0.30 percent, at 24,780.63, the S&P 500 was up 14.08 points, or 0.52 percent, at 2,725.53 and the Nasdaq Composite was up 55.29 points, or 0.75 percent, at 7,406.92. Nine of the 11 major S&P sectors were higher, with only the rate-sensitive utilities and real estate sectors in the red. The technology index was up 0.5 percent, with chipmakers the biggest gainers. Micron jumped 4.4 percent after RBC Capital Markets rated the stock "outperform," while AMD gained 3.2 percent on a Susquehanna upgrade to "neutral". The two stocks helped the Philadelphia SE semiconductor index gain 1.24 percent. Among the laggards was 3M Co, which slipped 1 percent and weighed on the Dow after Jefferies cut its rating on the stock to "hold". IQVIA dropped 4.4 percent, the most on the S&P, after the FDA found some inaccuracies on sales data regarding some opioid drug products. Advancing issues outnumbered decliners by a 2.06-to-1 ratio on the NYSE and by a 2.53-to-1 ratio on the Nasdaq. The S&P index recorded 13 new 52-week highs and three new lows, while the Nasdaq recorded 108 new highs and 39 new lows. (Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)

https://www.cnbc.com/2018/05/16/reuters-america-us-stocks-wall-st-gains-on-macys-boost-russell-2000-hits-record.html

'Stupid' dropped points ruined Chelsea's season, says Conte

May 8, 2018 / 3:52 PM / Updated an hour ago 'Stupid' dropped points ruined Chelsea's season, says Conte Reuters Staff 2 Min Read (Reuters) - Chelsea coach Antonio Conte is disappointed by how his team’s season has played out and criticised the “stupid way” in which they had dropped points after dominating games. Soccer Football - Premier League - Chelsea vs Liverpool - Stamford Bridge, London, Britain - May 6, 2018 Chelsea manager Antonio Conte Action Images via Reuters/John Sibley Conte’s side are fifth in the Premier League ahead of Wednesday’s home game against Huddersfield Town, and although they face Manchester United in the FA Cup final on May 19, they need other results to go their way to finish in the top four. “For sure there is a bit of disappointment,” Conte told a news conference on Tuesday. “I think this season we dropped many points in a stupid way – especially in games where we dominated and created many chances but we were not able to score more goals.” Chelsea could end the league season level on points with Liverpool, who are third and have played a game more, but have a significantly poorer goal difference than the Merseyside club. Failing to beat Huddersfield or Newcastle United on Sunday would almost certainly end Chelsea’s hopes of Champions League football next season, but the silver lining for Conte is that Liverpool have gone off the boil recently. Two draws and a defeat in three league games has opened the door for last season’s champions to dream of a top-four finish, but keeping up the pressure on the teams above them is vital if that dream is to be realised. “The only way to put on a bit of pressure is (to win),” Conte said. “We are doing our job in the best way to put a bit of pressure on to Liverpool and Tottenham. “But the situation is not in our hands – Liverpool can beat Brighton to reach a place the Champions League, the same for Tottenham who have two games at home.” Reporting by Simon Jennings in Bengaluru, editing by Ed Osmond

https://uk.reuters.com/article/uk-soccer-england-che-hdd-conte/stupid-dropped-points-ruined-chelseas-season-says-conte-idUKKBN1I927F

Weak currency, global trade jitters bolster Brazil soy exports

SAO PAULO, May 3 (Reuters) - Brazil’s soybean exports hit record volumes last month, grain exporter association Anec said on Thursday, citing a weak domestic currency and trade tensions between the United States and China for bolstering business for local farmers. Brazil’s April soybean exports reached 11.63 million tonnes, about 1 million tonnes more than the same month last year, Anec said in a report. “Evidently, with the strength of the dollar, the producer will free up more beans for export,” Sérgio Mendes, head of Anec, said in a telephone interview. Soy contracts are priced in dollars. Brazilian farmers also stand to gain from a drought in Argentina, the world’s third largest producer, and China’s slowing purchases of U.S. soy as the two countries trade threats over tariffs, he said. The fresh figures indicate Brazil is on track to remain the world’s most prominent soybean exporter and China’s largest supplier of the oilseed. This year, the country is likely to sell 70 million tonnes of soybeans overseas, a new all-time high, according to consultancy INTL FC Stone. The South American country will receive an estimated $36 billion in export revenue from the so-called soy complex of soybeans, soy oil and soymeal this year, data from soy crusher association Abiove show. On Wednesday, the government said Brazilian soybean shipments totaled 10.26 million tonnes in April, close to a record of 10.96 million tonnes exported in May 2017. Anec data differs from numbers released by the government because they are compiled under different methodologies, Mendes said. The government’s foreign trade agency Secex compiles the figures based on reported amounts, while Anec export figures reflect actual shipment data. For the first four months of the year, Brazil’s soy exports rose by 5.4 percent to 29.2 million tonnes, the strongest Jan-April reading in history, Anec said. The government measure released on Wednesday indicated that Brazilian soybean exports were 23.5 million tonnes over the period. (Reporting by Roberto Samora; writing by Ana Mano;Editing by Marguerita Choy) Our

https://www.reuters.com/article/brazil-soy/weak-currency-global-trade-jitters-bolster-brazil-soy-exports-idUSL1N1SA1IU

Energy MLPs fight against sentiment after U.S. watchdog ruling

NEW YORK, May 4 (Reuters) - A recent U.S. agency ruling limiting certain tax benefits for energy master limited partnerships (MLPs) dealt a blow to a security class investors had loved for their income but now look likely to steer clear of even though they look cheap. MLPs are tax-exempt corporate structures that pay out profit to investors in dividend-style distributions, many of which are oil and natural gas pipeline companies. The Alerian MLP index plunged 4.6 percent after the Federal Energy Regulatory Commission said in March they will no longer be allowed to recover an income tax allowance as part of the fees they charge to shippers under a "cost of service" rate structure. A U.S. Appeals Court in 2016 ruled that energy regulators were allowing them to benefit from a "double recovery" of taxes, leading to the FERC ruling. The index is down nearly 8 percent for the year, after a drop of almost 13 percent in 2017, as expectations of higher interest rates, depressed commodity prices and the recent ruling have combined to keep investors wary. "The sentiment around MLPs at this point is just so negative it doesnt matter what pops up," said John LaForge, head of Real Asset Strategy at Wells Fargo Investment Institute in Sarasota Florida. "Maybe you wouldve expected even after the FERC decision you would get the initial reaction of the negative and then the value guys step up and say 'this is crazy,' but they didnt do it. You dont even have the value guys interested at this point." High dividend yields are a hallmark of MLPs, leading many investors to use them as sources of income. While the dividend yield of the Alerian index was at 8.14 percent at the end of April, it has been on a downward slope since hitting a two-year high of 8.92 percent on March 28. The MLP index reached a record high in September 2014, as oil prices hovered near $100 a barrel and their high dividends made them attractive to investors in a low interest rate environment. Bond yields are rising, undermining the interest rate premium of MLPs and reducing demand, and the U.S. Federal Reserve has shown no signs of deviating from its path of tightening. U.S. benchmark 10-year notes hit a four-year high yield just over 3 percent in April while U.S. two-year yields recently crossed the 2.5 percent mark for the first time in nearly a decade. "For the last decade or so easy monetary policy has led a lot of money to income substitutes and bond proxies," said Michael Arone, Chief Investment Strategist at State Street Global Advisors in Boston. "As rates have been moving up, particularly on the short end, you are seeing a lot of the kind of weak money leave pretty quickly." Still, Jeremy Held, director of research at ALPS Portfolio Solutions in Denver, which is the issuer of the Alerian MLP ETF , notes there was a weak correlation between MLPs and interest rates over the 10-year period between 2006 and 2016. When rates rise, "initially they sort of sell off any rate-sensitive asset class utilities, bonds, MLPs, telecoms," said Held. "Then when the dust settles people actually look and say it matters if you can grow your (dividend) distribution faster than rates are rising, or is there still a spread." MLPs have shown some signs of life recently. After selling off on the FERC ruling, the Alerian index was up 3.1 percent through Thursday since March, compared with a 4.3 percent drop in the S&P 500. Oil prices have also continued to climb, with WTI up more than 11 percent and Brent crude up more than 13 percent since the announcement. As MLPs generally track closely or above oil prices, they could be poised to regain their cachet. "If you look at the demand numbers out there, demand is very good," said Stephen Massocca, Senior Vice President at Wedbush Securities in San Francisco. "There is some catching up to do, these things are dirt cheap." (Reporting by Chuck Mikolajczak; Editing by Alden Bentley and Susan Thomas)

https://www.cnbc.com/2018/05/04/reuters-america-energy-mlps-fight-against-sentiment-after-u-s-watchdog-ruling.html

Watch Google's I/O developers conference

Google is kicking off its annual, three-day developers' conference in Mountain View, California today with a keynote speech by CEO Sundar Pichai. The I/O event gives Google a chance to show off its artificial intelligence chops, give updates on upcoming products like the latest version of its Android operating system and woo developers into using its tools. Pichai will likely set the tone by talking about some of Google's big-picture goals and may also touch on topics that have plagued the tech industry in the last year like fake news and protecting users' data. The stream is slated to start at 1 p.m. ET.

https://www.cnbc.com/2018/05/08/watch-googles-io-developers-conference.html

Associa Chicagoland Hires Celina Bright as Business Development Manager

Chicago, IL, May 08, 2018 (GLOBE NEWSWIRE) -- Associa Chicagoland announces the recent hiring of Celina Bright as the business development manager specifically focused on new business efforts in the City of Chicago. Ms. Bright has been in the property management industry for more than five years and is an active Community Association Institute (CAI) volunteer, serving as a member of the city membership committee as well as a former member of the marketing committee. Ms. Bright also serves on the Institute of Real Estate Management Premier (IREM) awards committee and their silent auction committee. Ms. Bright will be joining Erica Horndasch, director of business development, in identifying and securing new business opportunities by cultivating customer relationships. “Celina has a diverse background that will allow her to connect with our clients on a unique and special level,” stated Stephanie Skelley, Associa Chicagoland president. “She is an advocate for her peers and has been working with others in the industry to encourage underrepresented industry individuals to speak at events, expos and seminars. Her dedication and hard work will help Associa Chicagoland continue to expand in the market.” “We are excited to have Celina join our dynamic team,” stated Erica Horndasch, Associa Chicagoland director of business development. “Her ability to build relationships with current and potential clients will be an asset to achieving our branch goals and reaching more residents.” Ms. Bright graduated from The College of DuPage and was the recipient of the 2018 IREM Leadership award. She is an active industry volunteer on committees with both the local CAI and IREM. With more than 180 branch offices across North America, Associa delivers unsurpassed management and lifestyle services to nearly five million residents worldwide. Our 10,000+ team members lead the industry with unrivaled education, expertise and trailblazing innovation. For more than 40 years, Associa has provided solutions designed to help communities achieve their vision. To learn more, visit www.associaonline.com . Stay Connected: Like us on Facebook: https://www.facebook.com/associa Subscribe to the Blog: https://hub.associaonline.com/ Follow us on Twitter: https://twitter.com/associa Join us on LinkedIn: http://www.linkedin.com/company/associa Ashley S Cantwell Associa 214-272-4107 acantwell@associaonline.com Source: Associa

http://www.cnbc.com/2018/05/08/globe-newswire-associa-chicagoland-hires-celina-bright-as-business-development-manager.html

Spanish stocks - Factors to watch on Friday

The following Spanish stocks may be affected by newspaper reports and other factors on Firday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy: IBERDROLA The bids for Brazilian power distribution company Eletropaulo Metropolitana Eletricidade de Sao Paulo have been postponed to June 4. GRIFOLS and VISCOFAN are holding their annual shareholders meeting on Friday. For today’s European market outlook double click on. For real-time moves on the Spanish blue-chip index IBEX please double click on For IBEX constituent stocks highlight .IBEX in the command box and press the F3 button on your keyboard For latest news on Spanish stock moves double click For Spanish language market report double click on For latest Eurostocks report please double click on

https://www.reuters.com/article/markets-spain-factors/spanish-stocks-factors-to-watch-on-friday-idUSL5N1SW10Q

Keane Announces First Quarter 2018 Financial and Operational Results

HOUSTON--(BUSINESS WIRE)-- Keane Group, Inc. ("Keane" or the "Company") today reported first quarter 2018 financial and operational results. Results and Recent Highlights Reported first quarter 2018 revenue of $513.0 million, compared to fourth quarter 2017 of $501.5 million Realized first quarter 2018 net loss of $8.2 million, compared to fourth quarter 2017 net income of $43.9 million Achieved first quarter 2018 Adjusted EBITDA of $91.3 million, compared to fourth quarter 2017 of $93.8 million Reported annualized Adjusted Gross Profit per fleet of $17.0 million, compared to fourth quarter 2017 of $17.3 million Remain at full utilization on all hydraulic frac fleets; averaged 26.0 deployed fleets during first quarter 2018 Updating delivery timing for newbuild frac fleet 27 to late-May, up from end of second quarter 2018 Entered into dedicated agreement for newbuild frac fleet 28 with expected delivery by end of second quarter 2018 First Quarter 2018 Financial Results Revenue for the first quarter of 2018 totaled $513.0 million, an increase of 2% compared to revenue for the fourth quarter of 2017 of $501.5 million. Net loss per share for the first quarter of 2018 totaled $0.07, compared to net income per share for the fourth quarter of 2017 of $0.39. Excluding one-time items and other adjustments further discussed below, net income for the first quarter of 2018 was $21.1 million, compared to net income of $38.2 million for the fourth quarter of 2017. Adjusted EBITDA for the first quarter of 2018 totaled $91.3 million, compared to $93.8 million for the fourth quarter of 2017. Adjusted Gross Profit for the first quarter of 2018 was $109.6 million, compared to $113.1 million for the fourth quarter of 2017. Selling, general and administrative expenses for the first quarter of 2018 totaled $33.9 million, compared to $24.6 million for the fourth quarter of 2017. Excluding one-time items, selling, general and administrative expenses for the first quarter of 2018 totaled $17.8 million compared to $18.4 million for the fourth quarter of 2017. “Keane executed exceptionally well in the face of first quarter transitory challenges, stemming from extreme winter weather in late 2017 and early 2018,” said James Stewart, Chairman and Chief Executive Officer of Keane. “These issues impacted work schedules early in the quarter, and drove stresses on the delivery of frac sand throughout the period. The first quarter exemplified the importance of our long-standing model of partnering with high-quality customers under dedicated agreements. This strategy, combined with our leading supply chain and supplier relationships, limited the impact to our customers and financials. With these transitory factors largely resolved, we are excited to continue on our growth trajectory, supported by our existing portfolio and newbuild expansion program.” “Despite transitory headwinds, our team continued to execute, delivering first quarter revenue and annualized Adjusted Gross Profit per fleet in-line with the ranges we communicated in February,” said Greg Powell, President and Chief Financial Officer of Keane. “Efficiency and profitability improved as we exited the quarter, driven by the dissipation of transitory issues. Normalizing for transitory impacts, revenue totaled approximately $530 million and annualized Adjusted Gross Profit per fleet was approximately $18 million. Our focus on dedicated agreements, combined with the underlying strength of our results, establish our confidence for continued performance.” Completion Services Revenue for Completion Services totaled $507.5 million for the first quarter of 2018, an increase of 2% compared to the fourth quarter of 2017 of $495.5 million, driven by price increases from contract re-openers on a portion of our portfolio, offset by transitory factors including weather and supply chain challenges. Keane maintained full utilization, averaging 26.0 deployed hydraulic fracturing fleets for the first quarter of 2018, of which 76% were bundled with wireline. Adjusted Gross Profit in Completion Services totaled $110.4 million for the first quarter of 2018, compared to $112.6 million for the fourth quarter of 2017. Annualized revenue per average deployed hydraulic fracturing fleet for the first quarter of 2018 was $78.1 million, compared to $76.2 million for the fourth quarter of 2017. Annualized Adjusted Gross Profit per fleet totaled $17.0 million, largely unchanged as compared to $17.3 million for the fourth quarter of 2017. Other Services Revenue in Other Services for the first quarter of 2018 totaled $5.6 million, compared to $6.0 million for the fourth quarter of 2017. Other Services revenue for the first quarter of 2018 solely reflects our cementing operations following the sale of our workover rig assets in November 2017. Excluding revenue associated with workover rigs, revenue in the fourth quarter of 2017 was $4.4 million. First Quarter 2018 One-Time Items and Other Adjustments Adjusted EBITDA for the first quarter of 2018 excludes $29.3 million of one-time items, driven by the final liability adjustment to our contingent value right (“CVR”) associated with the purchase price of our RockPile acquisition in July 2017, costs associated with our secondary equity offering completed in January, and non-cash stock compensation expense. Following the cash payment of the CVR in early April 2018, Keane has no further obligations under its CVR. Balance Sheet and Capital Total debt outstanding as of March 31, 2018 was $274.7 million, net of unamortized debt discounts and unamortized deferred charges and excluding capital lease obligations, compared to $275.1 million as of December 31, 2017. As of March 31, 2018, cash and equivalents totaled $95.5 million, compared to $96.1 million as of December 31, 2018. Total available liquidity as of March 31, 2018 was approximately $301.9 million, which included availability under our asset-based credit facility. Total operating cash flow for the first quarter of 2018 was approximately $34.2 million. Capital expenditures totaled $48.3 million for the first quarter of 2018, driven by spending on our previously announced newbuild fleets, as well as maintenance capex. Stock Repurchase Program Update In February 2018, Keane announced that its board of directors has authorized a stock repurchase program of up to $100 million, subject to Securities and Exchange Commission regulations, stock market conditions and corporate working capital needs. Promptly following the programs authorization in late-February, Keane established a trading plan, and subject to customary blackout periods, the repurchase program became effective in the second quarter of 2018. As a result, at the end of the first quarter of 2018, Keane had full availability under the authorized amount. The program does not obligate Keane to purchase any particular number of shares of common stock during any period and the program may be modified or suspended at any time at the Company's discretion. “We are focused on generating free cash flow and maintaining a conservative balance sheet,” said Greg Powell. “We are excited to have our repurchase program in place and given our expectation for further growth and profitability, remain committed to returning value to shareholders.” Newbuild Update Keane previously announced the order for 150,000 newbuild hydraulic horsepower, representing three additional hydraulic fracturing fleets. The first of its three newbuild hydraulic fracturing fleets and associated wireline equipment will be deployed in the Marcellus / Utica basin in late-May 2018, earlier than our previous expectation of by the end of second quarter of 2018, increasing Keane’s total hydraulic fracturing fleets to 27. Today, Keane is announcing that it has entered into a new dedicated agreement for the second of its three newbuild hydraulic fracturing fleets. The fleet and associated wireline equipment will be deployed in the Permian by the end of the second quarter of 2018, bringing Keane’s total hydraulic fracturing fleets to 28. Dedicated agreements for Keane’s first two newbuild fleets reflect annualized Adjusted Gross Profit per fleet of greater than $20 million. Keane remains in active discussions with multiple customers for its third newbuild fleet and expects to enter into a dedicated agreement well in advance of its delivery by the end of third quarter of 2018. Outlook Total revenue is expected to increase to between $555 million and $575 million for the second quarter of 2018, driven by improvements in efficiency, price, and contribution from our first newbuild fleet in late-May. Annualized Adjusted Gross Profit per fleet is expected to exit the second quarter of 2018 at approximately $20 million dollars. Keane expects to maintain full utilization on its existing 26 hydraulic fracturing fleets throughout the quarter, and forecasts an increase to 27 active fleets upon the deployment of the first of its newbuild fleets in late-May 2018. Keane expects to further ramp activity in its cementing business during the second quarter of 2018 and the remainder of the year. By the end of 2018, Keane continues to expect run-rate revenue of between $70 million and $90 million on margins of between 20% and 25%. “Completions services fundamentals remain attractive, and we expect further growth from higher pricing and improved efficiency,” said Greg Powell. “We continue to execute on our growth initiatives, including the successful addition of newbuild fleets under dedicated agreements. Our exit-rate performance during the first quarter establishes our confidence in achieving cash flow growth and improved profitability going forward.” Conference Call On Thursday, May 3, 2018, Keane will hold a conference call for investors at 7:30 a.m. Central Time (8:30 a.m. Eastern Time) to discuss Keane’s first quarter 2018 results. Hosting the call will be James Stewart, Chairman and Chief Executive Officer and Greg Powell, President and Chief Financial Officer. The call can be accessed live over the telephone by dialing (877) 407-9208, or for international callers, (201) 493-6784. A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921, or for international callers (412) 317-6671. The passcode for the replay is 13678352. The replay will be available until May 17, 2018. About Keane Group, Inc. Headquartered in Houston, Texas, Keane is one of the largest pure-play providers of integrated well completion services in the U.S., with a focus on complex, technically demanding completion solutions. Keane's primary service offerings include horizontal and vertical fracturing, wireline perforation and logging, engineered solutions and cementing, as well as other value-added service offerings. Definitions of Non-GAAP Financial Measures and Other Items Keane has included both financial measures compiled in accordance with GAAP and certain non-GAAP financial measures in this press release, including Adjusted EBITDA and Adjusted Gross Profit and ratios based on these financial measures. These measurements provide supplemental information which Keane believes is useful to analysts and investors to evaluate its ongoing results of operations, when considered alongside GAAP measures such as net income and operating income. These non-GAAP financial measures exclude the financial impact of items management does not consider in assessing Keane’s ongoing operating performance, and thereby facilitate review of Keane’s operating performance on a period-to-period basis. Other companies may have different capital structures, and comparability to Keane’s results of operations may be impacted by the effects of acquisition accounting on its depreciation and amortization. As a result of the effects of these factors and factors specific to other companies, Keane believes Adjusted EBITDA and Adjusted Gross Profit provide helpful information to analysts and investors to facilitate a comparison of its operating performance to that of other companies. Adjusted EBITDA is defined as net income (loss) adjusted to eliminate the impact of interest, income taxes, depreciation and amortization, along with certain items management does not consider in assessing ongoing performance. Adjusted Gross Profit is defined as Adjusted EBITDA, further adjusted to eliminate the impact of all activities in the Corporate segment, such as selling, general and administrative expenses, along with cost of services that management does not consider in assessing ongoing performance. Forward-Looking Statements The statements contained in this release that are not historical facts are as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such . The statements in this press release that are not historical statements, including statements regarding the Company’s plans, objectives, future opportunities for the Company’s services, future financial performance and operating results and any other statements regarding Keane's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond Keane's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to the operations of Keane; the effects of the business combination of Keane and RockPile, including the combined Company’s future financial condition, results of operations, strategy and plans; potential adverse reactions or changes to business relationships resulting from the completion of the RockPile transaction; expected synergies and other benefits from the transaction and the ability of Keane to realize such synergies and other benefits; results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending and in oil and natural gas prices, which could adversely affect demand for Keane's services and their associated effect on rates, utilization, margins and planned capital expenditures; global economic conditions; excess availability of pressure pumping equipment, including as a result of low commodity prices, reactivation or construction; liabilities from operations; weather; decline in, and ability to realize, backlog; equipment specialization and new technologies; shortages, delays in delivery and interruptions of supply of equipment and materials; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and in integrating acquisitions; product liability; political, economic and social instability risk; ability to effectively identify and enter new markets; cybersecurity risk; dependence on our subsidiaries to meet our long-term debt obligations; variable rate indebtedness risk; and anti-takeover measures in our charter documents. Additional information concerning factors that could cause actual results to differ materially from those in the is contained from time to time in Keane's Securities and Exchange Commission (“SEC”) filings, including the most recently filed Forms 10-Q and 10-K. Keane's filings may be obtained by contacting Keane or the SEC or through Keane's website at http://www.keanegrp.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov . Keane undertakes no obligation to publicly update or revise any forward-looking statement. KEANE GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS & COMPREHENSIVE INCOME (LOSS) (in thousands, except per share data) Three Months Ended March 31, Three Months Ended December 31, 2018 2017 2017 (Unaudited) (Unaudited) (Unaudited) Revenue $ 513,016 $ 240,153 $ 501,490 Operating costs and expenses: Cost of services 403,408 223,992 389,096 Depreciation and amortization 60,051 30,373 49,964 Selling, general and administrative expenses 33,884 17,988 24,611 (Gain) loss on disposal of assets 769 (436 ) (2,418 ) Total operating costs and expenses 498,112 271,917 461,253 Operating income (loss) 14,904 (31,764 ) 40,237 Other income (expenses): Other income (expense), net (12,989 ) 4 9,316 Interest expense (6,990 ) (40,361 ) (7,318 ) Total other income (expenses) (19,979 ) (40,357 ) 1,998 Income (loss) before income taxes (5,075 ) (72,121 ) 42,235 Income tax benefit (expense) (3,168 ) (134 ) 1,712 Net income (loss) (8,243 ) (72,255 ) 43,947 Other comprehensive income (loss): Foreign currency translation adjustments (34 ) 13 (12 ) Hedging activities 2,211 11 785 Total comprehensive income (loss) $ (6,066 ) $ (72,231 ) $ 44,720 Net income (loss) per share, basic $ (0.07 ) $ (0.73 ) $ 0.39 Weighted average shares, basic 112,086 98,827 111,707 KEANE GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) ASSETS March 31, December 31, 2018 2017 (Unaudited) (Audited) Current Assets: Cash and cash equivalents $ 95,488 $ 96,120 Accounts receivable 244,875 238,018 Inventories, net 37,787 33,437 Prepaid and other current assets 11,656 8,519 Total current assets 389,806 376,094 Property and equipment, net 458,391 468,000 Goodwill 134,536 134,967 Intangible assets 55,630 57,280 Other noncurrent assets 8,446 6,775 Total Assets $ 1,046,809 $ 1,043,116 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 134,994 $ 92,348 Accrued expenses 104,494 135,175 Customer contract liabilities 3,850 5,000 Current maturities of capital lease obligations 3,353 3,097 Current maturities of long-term debt 1,310 1,339 Stock based compensation - current 4,281 4,281 Other current liabilities 876 914 Total current liabilities 253,158 242,154 Capital lease obligations, less current maturities 4,565 4,796 Long-term debt, net (1) less current maturities 273,400 273,715 Stock based compensation – non-current — 4,281 Other non-current liabilities 4,716 5,078 Total non-current liabilities 282,681 287,870 Total liabilities 535,839 530,024 Shareholders’ equity: Stockholders’ equity 546,207 542,192 Retained (deficit) (35,615 ) (27,372 ) Accumulated other comprehensive (loss) 378 (1,728 ) Total shareholders’ equity 510,970 513,092 Total liabilities and shareholders’ equity $ 1,046,809 $ 1,043,116 (1) Net of unamortized deferred financing costs and unamortized debt discounts. KEANE GROUP, INC. AND SUBSIDIARIES ADDITIONAL SELECTED FINANCIAL AND OPERATING DATA (unaudited, amounts in thousands, except for non-financial statistics) Three Months Ended March 31, Three Months Ended December 31, 2018 2017 2017 Completion Services: Revenues $ 507,451 $ 240,153 $ 495,519 Cost of services 397,064 223,992 382,880 Gross profit 110,387 16,161 112,639 Depreciation, amortization and administrative expenses, and impairment 55,180 26,598 44,711 Operating income (loss) $ 54,265 $ (8,325 ) $ 65,885 Average hydraulic fracturing fleets deployed 26.0 15.5 26.0 Average hydraulic fracturing fleet utilization 100 % 67 % 100 % Wireline - fracturing fleet bundling percentages 76 % 58 % 78 % Average annualized revenue per fleet deployed $ 78,069 $ 61,975 $ 76,234 Average annualized adjusted gross profit per fleet deployed $ 16,983 $ 6,278 $ 17,316 Adjusted gross profit $ 110,387 $ 24,326 $ 112,554 Other Services (1) : Revenues $ 5,565 $ — $ 5,971 Cost of services 6,344 — 6,216 Gross profit (loss) (779 ) — (245 ) Depreciation, amortization and administrative expenses, and impairment 1,398 1,483 1,434 Operating income (loss) (2,177 ) (1,702 ) 1,697 Adjusted gross profit (loss) $ (779 ) $ — $ 548 (1) Other Services segment includes the cementing division. The company's workover rigs were sold during the third and fourth quarters of 2017. The company's coiled tubing assets were sold during the fourth quarter of 2017. Following these asset sales, Other Services segment exclusively reflects the cementing division. KEANE GROUP, INC. AND SUBSIDIARIES NON-U.S. GAAP FINANCIAL MEASURES (unaudited, in thousands) Three Months Ended March 31, 2018 Completion Services Other Services Corporate and Other Total Net Income (loss) $ 54,265 $ (2,177 ) $ (60,331 ) $ (8,243 ) Interest expense, net — — 6,990 6,990 Income tax expense — — 3,168 3,168 Depreciation and amortization 55,180 1,398 3,473 60,051 EBITDA $ 109,445 $ (779 ) $ (46,700 ) $ 61,966 Plus Management Adjustments: Acquisition, integration and expansion (1) — — 13,254 13,254 Offering-related expenses (2) — — 12,969 12,969 Non-cash stock compensation (3) — — 3,073 3,073 Adjusted EBITDA $ 109,445 $ (779 ) $ (17,404 ) $ 91,262 Selling, general and administrative — — 33,884 33,884 (Gain) loss on disposal of assets 942 — (173 ) 769 Other expense — — 12,989 12,989 Less Management Adjustments not associated with cost of services — — (29,296 ) (29,296 ) Adjusted gross profit $ 110,387 $ (779 ) $ — $ 109,608 (1) Represents adjustment to the CVR liability based on the final agreed-upon settlement. (2) Represents primarily professional fees and other miscellaneous expenses to consummate the secondary common stock offering completed in January 2018. These expenses were recorded in selling, general and administrative expenses, as Keane did not receive any proceeds in the offering to offset the expenses. (3) Represents non-cash amortization of equity awards issued under Keane Group, Inc.’s Equity and Incentive Award Plan (the “Equity Plan”). According to the Equity Plan, the Compensation Committee of the Board of Directors can approve awards in the form of restricted stock, restricted stock units, and/or other deferred compensation. Consistent with prior policy, amortization of awards is made ratably over the vesting periods, beginning with the grant date, based on the total fair value determined on grant date and recorded in selling, general and administrative expenses. KEANE GROUP, INC. AND SUBSIDIARIES NON-U.S. GAAP FINANCIAL MEASURES (unaudited, in thousands) Three Months Ended December 31, 2017 Completion Services Other Services Corporate and Other Total Net Income (loss) $ 65,885 $ 1,697 $ (23,635 ) $ 43,947 Interest expense, net — — 7,318 7,318 Income tax benefit — — (1,712 ) (1,712 ) Depreciation and amortization 44,711 1,434 3,819 49,964 EBITDA $ 110,596 $ 3,131 $ (14,210 ) $ 99,517 Plus Management Adjustments: Acquisition, integration and expansion (1) (86 ) (3,377 ) (8,889 ) (12,352 ) Offering-related expenses (2) — — 1,184 1,184 Commissioning costs — 794 — 794 Non-cash stock compensation (3) — — 3,244 3,244 Other (4) — — 1,444 1,444 Adjusted EBITDA $ 110,510 $ 548 $ (17,227 ) $ 93,831 Selling, general and administrative — — 24,611 24,611 (Gain) loss on disposal of assets 2,044 (3,377 ) (1,085 ) (2,418 ) Other income — — (9,316 ) (9,316 ) Less Management Adjustments not associated with cost of services — 3,377 3,017 6,394 Adjusted gross profit $ 112,554 $ 548 $ — $ 113,102 (1) Corporate and Other segment represents adjustment to the CVR liability, insurance recoveries associated with the acquisition of a majority of the U.S. assets and assumed certain liabilities of Trican Well Service, L.P. (the "Acquired Trican Operations"), lease termination costs and other expenses associated with organic growth initiatives. Completion Services and Other Services segment represents gain on the sale of coiled tubing assets. (2) Represents a portion of professional fees and other miscellaneous expenses to consummate the secondary common stock offering completed in January 2018. These expenses were recorded in selling, general and administrative expenses. (3) Represents non-cash amortization of equity awards issued under the Equity Plan, which is recorded in selling, general and administrative expenses. (4) Represents contingency accruals related to certain litigation claims. These costs were recorded in selling, general and administrative expenses. KEANE GROUP, INC. AND SUBSIDIARIES NON-U.S. GAAP FINANCIAL MEASURES (unaudited, in thousands) Three Months Ended March 31, 2017 Completion Services Other Services Corporate and Other Total Net Income (loss) $ (8,325 ) $ (1,702 ) $ (62,228 ) $ (72,255 ) Interest expense, net — — 40,361 40,361 Income tax expense — — 134 134 Depreciation and amortization 26,598 1,483 2,292 30,373 EBITDA $ 18,273 $ (219 ) $ (19,441 ) $ (1,387 ) Plus Management Adjustments: Acquisition, integration and expansion (1) — — 980 980 Offering-related expenses (2) 1,266 — 4,409 5,675 Commissioning costs 6,899 — 197 7,096 Non-cash stock compensation (3) — — 1,138 1,138 Others (4) — — (409 ) (409 ) Adjusted EBITDA $ 26,438 $ (219 ) $ (13,126 ) $ 13,093 Selling, general and administrative — — 17,988 17,988 (Gain) loss on disposal of assets (2,112 ) 219 1,457 (436 ) Other income — — (4 ) (4 ) Less Management Adjustments not associated with cost of services — — (6,315 ) (6,315 ) Adjusted gross profit $ 24,326 $ — $ — $ 24,326

http://www.cnbc.com/2018/05/02/business-wire-keane-announces-first-quarter-2018-financial-and-operational-results.html

Facebook's Mark Zuckerberg prepares for a grilling in Brussels

Facebook's Mark Zuckerberg prepares for a grilling in Brussels 7:15am EDT - 01:02 CEO Mark Zuckerberg will meet the leaders of the European Parliament for a private meeting to answer questions about the improper use of millions of users' data by a political consultancy, as pressure on the company's protection of data continues. Anna Bevan reports CEO Mark Zuckerberg will meet the leaders of the European Parliament for a private meeting to answer questions about the improper use of millions of users' data by a political consultancy, as pressure on the company's protection of data continues. Anna Bevan reports //reut.rs/2KKoVUd

https://www.reuters.com/video/2018/05/22/facebooks-mark-zuckerberg-prepares-for-a?videoId=429283119

Underweight Europe on Italian election concerns, says Oliver Pursche

Underweight Europe on Italian election concerns, says Oliver Pursche Tuesday, May 29, 2018 - 05:21 Bruderman Brothers' chief market strategist explains in a chat with Reuters' Fred Katayama why he cut his recommended exposure to European equities and why he has become more defensive in U.S. equities. ▲ Hide Transcript ▶ View Transcript Bruderman Brothers' chief market strategist explains in a chat with Reuters' Fred Katayama why he cut his recommended exposure to European equities and why he has become more defensive in U.S. equities. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2H20eQy

https://uk.reuters.com/video/2018/05/29/underweight-europe-on-italian-election-c?videoId=431496061

German companies worry Trump moving towards 'America Alone'

May 20, 2018 / 1:33 PM / Updated 2 hours ago German companies worry Trump moving toward 'America Alone' Reuters Staff 2 Min Read BERLIN (Reuters) - German companies are concerned that U.S. President Donald Trump is increasingly thinking only of America rather than just putting his country first, the head of Germany’s DIHK Chambers of Commerce told media. FILE PHOTO: U.S. President Donald Trump walks to Marine One to depart for Walter Reed National Military Medical Center to visit first lady Melania Trump after she had kidney surgery from the South Lawn of the White House in Washington, U.S., May 14, 2018. REUTERS/Leah Millis The United States has pulled out of the 2015 Iran nuclear deal and Germany has acknowledged it could be hard to protect companies doing business with Iran, as a senior U.S. official renewed a threat of sanctions against European firms. German companies also face the prospect of possible extra levies — Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum in March but the European Union has been granted exemptions until June 1. “America First now increasingly means America Alone,” DIHK President Eric Schweitzer told the RND group of newspapers. “That makes German businesses really worried.” Nonetheless, a DIHK survey published earlier this month showed a record number of German companies believe economies in foreign markets where they do business will improve despite rising political and trade risks. In January Trump said he would always promote “America First”, as he expected other world leaders to do on behalf of their own countries, but added: “America First does not mean America alone. When the United States grows so does the world.” Schweitzer called for the EU to take a tough line in the trade dispute with the United States, saying while it was important to remain in dialogue over difficult conflicts, “we’re moving in the wrong direction if we automatically react to new unreasonable demands with concessions.” Germany is Europe’s biggest exporter to the United States. Reporting by Michelle Martin; Editing by Catherine Evans

https://uk.reuters.com/article/us-germany-usa/german-companies-worry-trump-moving-toward-america-alone-idUKKCN1IL0I3

Serena aside, Sharapova will fear no one at French: Evert

May 25, 2018 / 12:02 PM / Updated an hour ago Serena aside, Sharapova will fear no one at French: Evert Martyn Herman 3 Min Read LONDON (Reuters) - Russian Maria Sharapova could run into old nemesis Serena Williams in the fourth round of the French Open but, the American aside, she will fear no one on her first appearance at the claycourt slam for three years. Tennis - WTA Premier 5 - Italian Open - Foro Italico, Rome, Italy - May 19, 2018 Russia's Maria Sharapova in action during her semi final match against Romania's Simona Halep REUTERS/Tony Gentile The former world number one, twice a champion at Roland Garros despite an unnatural claycourt game, is seeded 28 after a rocky road back from a doping ban. She was ineligible two years ago and last year French Open organizers declined to offer her a wildcard following her return to the Tour. Sharapova served a 15-month sanction for testing positive for heart drug meldonium after losing to Williams in the Australian Open quarter-finals in 2016. The two grand slams she has played since resuming her career have resulted in fourth-round losses but having reunited with former coach Thomas Hogstedt last month, the five-times major winner is moving back in the right direction, according to Roland Garros great Chris Evert. “She has a shot (at the title),” seven-times French Open champion Evert, an analyst for broadcaster ESPN, told Reuters. “I see her moving better and the intensity is back. I see some drop shots. She is back with her old coach Thomas Hogstedt and she has won grand slams with him before. “I see her getting better and better because she wants it and she is willing to work hard for it and it’s still the most important thing in her life. In the last six weeks I see an improvement in her game.” The fact that no player has taken the game by storm while 23-times grand slam champion Williams took time off to have a baby, will further encourage Sharapova, according to Evert. “Maria will look at it and see no one dominant. Serena Williams is the only player in the past who has been like a thorn in her side, but she feels mentally superior to most of the other and she feels she can win against them all.” Tennis player Serena Williams attends the 2017 Glamour Women of the Year Awards at the Kings Theater in Brooklyn, New York, U.S., November 13, 2017. REUTERS/Andrew Kelly SUPERIOR SERENA Only Williams, unseeded and ranked 453 has a superior grand slam record to Sharapova in the women’s draw. Last year’s champion Jelena Ostapenko, double Wimbledon champion Petra Kvitova, Australian Open champion Caroline Wozniacki and 2016 French Open winner Garbine Muguruza are all amongst the list of favorites. But Sharapova, a semi-finalist in Rome last week, would not have a sleepless night about facing any of them. “This is a title she has won twice and this is a surface that gives her a little more time to set up,” Evert said. “She knows she can win it and she knows she is mentally tougher than most of them. When you look at the players who are contenders, they have a few slams but mentally they have had some big wins but also some big losses. “Aside from Serena she has the most experience and is mentally tougher. That’s worth two games a set.” Sharapova trails Williams 19-2 on career head-to-head but leads top French Open top seed Simona Halep 7-2, second seed Wozniacki 6-4 and third seed Muguruza 3-0. Reporting by Martyn Herman; Editing by Christian Radnedge

https://www.reuters.com/article/us-tennis-frenchopen-women-sharapova/serena-aside-sharapova-will-fear-no-one-at-french-evert-idUSKCN1IQ1KA

Dumoulin wins Giro opening time trial as Froome struggles

May 4, 2018 / 3:49 PM / Updated an hour ago Dumoulin wins Giro opening time trial as Froome struggles Reuters Staff 1 Min Read JERUSALEM (Reuters) - Defending champion Tom Dumoulin claimed the overall lead at the Giro d’Italia on Friday as the Dutchman won the opening time trial in Jerusalem. Cycling – the 101st Giro d'Italia cycling race – The 9.7-km Stage 1 in Jerusalem – May 4, 2018 - Team Sunweb rider Tom Dumoulin of the Netherlands prepares at the start line. REUTERS/Ronen Zvulun Dumoulin clocked 12 minutes and two seconds on the 9.7-kilometre course to don the maglia rosa. Tour de France champion Chris Froome, who sustained bruises in a crash during the course reconnaissance earlier on Friday, was a distant 21st. Slideshow (4 Images) Another top contender, France’s Thibaut Pinot, was 16th, 33 seconds off the pace. “I had been feeling good lately and today I took time off of my rivals, that’s all I wanted,” said Dumoulin. Froome lost 37 seconds on the Team Sunweb rider. Reporting by Julien Pretot; Editing by Christian Radnedge

https://uk.reuters.com/article/uk-cycling-giro/dumoulin-wins-giro-opening-time-trial-as-froome-struggles-idUKKBN1I51YU

Wealth Managers Join First Republic in San Francisco and Boston

SAN FRANCISCO--(BUSINESS WIRE)-- First Republic Bank (NYSE: FRC), a leading private bank and wealth management company, today announced that wealth managers Jeremy Wenner and Adam Beard have joined First Republic Investment Management. Wenner and Beard were each named Managing Director and will provide wealth management services to individuals, families, businesses, nonprofits and foundations. Wenner will work in First Republic’s San Francisco office at 111 Pine Street and Beard will be located at 160 Federal Street in Boston. “Jeremy Wenner and Adam Beard are very accomplished wealth professionals with extensive experience helping clients realize their financial objectives,” said Bob Thornton, President of First Republic Private Wealth Management. “Jeremy and Adam share First Republic’s commitment to exceptional client service, and we are very pleased they are joining our growing team in both San Francisco and Boston.” Wenner has more than 17 years of financial services experience serving high net worth individuals and families. Before joining First Republic, Wenner was Managing Director in the Private Wealth Management Group at Jefferies LLC. Before that, he was Private Client Investment Advisor at Thomas Weisel Partners. Wenner began his career as a financial services analyst at NationsBanc Montgomery Securities. He earned a Bachelor of Arts degree in Political Science from Colgate University and an MBA from the University of California, Walter A. Haas School of Business. Beard has more than 22 years of experience creating customized wealth planning strategies for high net worth individuals and families. Before joining First Republic, Beard was Senior Vice President in the Private Wealth Management Group at Jefferies LLC and also worked in the firm’s Technology Investment Banking Group. Before that, he was Director at GCA and was Vice President at Arma Partners LLP. Earlier in his career, he worked at Credit Suisse First Boston Technology Group and Prudential Securities. Beard earned a Bachelor of Arts degree in Political Science from Trinity College. He is a member of the Executive Committee for the nonprofit organization, BUILD Boston. About First Republic Bank Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service, with a solid commitment to responsiveness and action. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and later in 2018, Jackson, Wyoming. First Republic offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans. For more information, visit firstrepublic.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20180514005235/en/ Investors: Addo Communications Andrew Greenebaum / Lasse Glassen, 310-829-5400 agreenebaum@addoir.com lglassen@addoir.com or Media: Blue Marlin Partners Greg Berardi, 415-239-7826 greg@bluemarlinpartners.com Source: First Republic Bank

http://www.cnbc.com/2018/05/14/business-wire-wealth-managers-join-first-republic-in-san-francisco-and-boston.html

Maurice Levy at Publicis says we'll get cash for sharing personal data

The chairman of one of the largest ad firms in the world believes that major upheavals in the media landscape will see consumers soon share the wealth of large technology companies. Maurice Levy, the former CEO and now chairman of Publicis Groupe , a $15.8 billion French ad giant, predicted that a third party will act as a middleman between social media firms and their customers — effectively collecting revenue from companies and distributing some of that money to users who share their data. "There are already some voices which are already talking about the monetization," he told CNBC's Karen Tso at the VivaTech summit in Paris Friday. "I know that some governments are not in favor, but when the consumer says, 'There is all this wealth of information that you are using and the only thing I'm getting is a free service. But you are getting much more from me, and maybe I should get a share of that revenue,'" he said. "And I'm absolutely convinced that this will be the future." Jason Alden | Bloomberg via Getty Images Levy didn't name any lawmakers opposed to such a move, but some governments would likely be cautious about shaving revenue from big tech firms, with the industry already facing tough scrutiny on tax and regulation. Currently, people who use social media sites like Facebook receive access to a free service in return for the company using their data to target them with ads. That model has been thrown into question since it was revealed that Facebook data on 87 million people may have been shared with Cambridge Analytica , a now-defunct consulting firm that was accused of using "psychographic" profiling to influence voters for political clients. show chapters GDPR: Why everyone is freaking out over four letters 10:59 AM ET Wed, 23 May 2018 | 02:53 "In my view, from an advertising standpoint, we will see a lot of changes coming in the future," Levy told CNBC. The ad guru name-checked new EU data laws that started Friday, called GDPR (General Data Protection Regulation). It forces companies to be more clear on consent to use and share customer data and allows consumers to request that firms delete all information companies have on them. Levy said widespread discussion on GDPR would only heightens people's concerns on data sharing. "The more we are speaking about the use of data, you will have people that say 'hey guys, where is my money, you are using my information, you are using everything which is about myself, but I want a share of your revenues.' And they believe that this is tomorrow," he said.

https://www.cnbc.com/2018/05/25/maurice-levy-at-publicis-says-well-get-cash-for-sharing-personal-data.html

HEI Reports First Quarter 2018 Earnings

HONOLULU, May 10, 2018 /PRNewswire/ -- Hawaiian Electric Industries, Inc. (NYSE: HE) (HEI) today reported consolidated net income for common stock for the first quarter of 2018 of $40.2 million and diluted earnings per share (EPS) of $0.37 compared to $34.2 million and EPS of $0.31 for the first quarter of 2017. "We are pleased to report solid earnings for the first quarter of 2018 from both our bank and utility," said Constance H. Lau, president and CEO of HEI. "In the first quarter, our utility worked with the Hawaii Public Utilities Commission to give the net benefits from tax reform to utility customers, including approximately $9 million for the first quarter alone. Our Commission also opened a performance-based ratemaking proceeding that establishes a collaborative, deliberative process allowing for stakeholder and expert input to help accelerate Hawaii's move to 100% clean energy. Moving forward we are focused on our role in creating resilient, sustainable communities through technology, smart use of resources, building partnerships, and providing more value to customers." "American Savings Bank's first quarter results included the highest quarterly net income in its history, reflecting higher net interest margin, good deposit and loan growth and the benefits of tax reform for the bank, including lower tax expense and higher wage rates for entry level and lower wage positions. We continue to work hard to deliver value for our customers as the bank's profitability improves," said Lau. HAWAIIAN ELECTRIC COMPANY EARNINGS Hawaiian Electric Company's 1 net income for the first quarter of 2018 was $27.5 million compared to $21.5 million in the first quarter of 2017, primarily driven by the following after-tax items: $11 million higher rate adjustment mechanism (RAM) revenues, primarily due to lower revenues in the first quarter of 2017 because of the return in 2017 to recording Oahu RAM revenues for accounting purposes on a lagged basis beginning June 1, 2017, instead of on a calendar year basis; $5 million of interim rate relief from Hawaii Electric Light's 2016 test year interim rates effective August 31, 2017 and Hawaiian Electric's 2017 test year interim rates effective February 16, 2018; and $1 million higher allowance for funds used during construction mainly from the Schofield Generating Station project expected to be completed in the second quarter. These items were partially offset by the following after-tax items: $7 million higher O&M expenses 2 compared to 2017, primarily due to the reset of pension costs as part of rate case interim decisions, higher overhaul costs for generation, a write-off of smart grid costs, and a one-time rent expense adjustment for existing substation land, partially offset by the additional reserve for environmental costs in 2017; $2 million higher depreciation expense as a result of increasing investments for the integration of more renewable energy, improved customer reliability and greater system efficiency; and $2 million lower net income, primarily representing accrued first quarter 2018 tax reform net benefits deferred (and to be returned to customers) that are higher than the reduction in first quarter income tax expense related to lower federal corporate tax rates. Note: Amounts indicated as after-tax in this earnings release are based upon adjusting items using the current year composite statutory tax rates of 25.75% for the utilities and 26.79% for the bank. 1 Hawaiian Electric Company, unless otherwise defined, refers to the three utilities, Hawaiian Electric Company, Inc. on Oahu, Maui Electric Company, Limited for Maui County, and Hawaii Electric Light Company, Inc. on Hawaii Island. 2 Excludes net income neutral expenses covered by surcharges or by third parties. See the "Explanation of HEI's Use of Certain Unaudited Non-GAAP Measures" and the related reconciliation accompanying this release. AMERICAN SAVINGS BANK EARNINGS American Savings Bank's (American) first quarter of 2018 net income was $19.0 million compared to $16.9 million in the fourth, or linked, quarter and $15.8 million in the prior year quarter. Compared to the linked quarter of 2017, the $2.1 million net income increase in the first quarter of 2018 was primarily driven by higher net interest income, which was mainly due to higher yields on earning assets and strong deposit growth that funded increases in the investment and retail portfolios. The first quarter also included approximately $3 million in tax benefits resulting from lower federal corporate tax rates, compared to the one-time tax benefit of $1.7 million recognized in the linked quarter. In the linked quarter, American passed on approximately $1 million of increased compensation to its employees through a $1,000 cash bonus paid in December 2017. Beginning in 2018, American increased the wage rates for entry level and lower wage positions. Compared to the first quarter of 2017, the $3.1 million higher net income was primarily driven by higher net interest income as discussed above for the linked quarter, partially offset by lower noninterest income. Noninterest expense in the first quarter of 2018 was higher compared to the first quarter of 2017 due to higher compensation and benefit expense, reflecting a higher minimum wage for employees along with higher performance-based incentives and annual merit increases, which was substantially offset by the tax benefits resulting from lower federal corporate tax rates. Total loans were $4.7 billion at March 31, 2018, up $71 million or 6.1% annualized, driven mainly by increases in commercial and commercial real estate loans of $63 million compared to December 31, 2017. Total deposits were $6.1 billion at March 31, 2018, an increase of $188 million or 12.8% annualized from December 31, 2017, including approximately $100 million in repurchase agreements that were transferred into deposit accounts. Excluding such transfers, total deposits increased by 6.0% annualized. The average cost of funds was 0.23% for the first quarter of 2018, up 2 basis points from the linked quarter and up 3 basis points from the prior year quarter. American's first quarter of 2018 return on average equity 3 was 12.58%, compared to 11.09% in the linked quarter and 10.82% in the first quarter of 2017. Return on average assets was 1.12% for the first quarter of 2018, compared to 1.01% in the linked quarter and 0.98% in the same quarter last year. Please refer to American's news release issued on April 30, 2018 for additional information on American. HOLDING AND OTHER COMPANIES The holding and other companies' net loss was $6.2 million in the first quarter of 2018 compared to $3.1 million in the prior year quarter. The higher net loss was primarily driven by the impact of federal tax reform, which negatively impacted the holding and other companies by approximately $1 million in the first quarter of 2018 due to lower tax benefits on expenses resulting from a lower corporate federal tax rate, higher interest expense due to higher interest rates and additional debt related to Pacific Current investments, and higher excess tax benefits associated with share-based awards in the first quarter of 2017 as compared to the first quarter of 2018. BOARD DECLARES QUARTERLY DIVIDEND On May 9, 2018, the board of directors maintained HEI's quarterly cash dividend of $0.31 per share, payable on June 12, 2018, to shareholders of record at the close of business on May 23, 2018 (ex-dividend date is May 22, 2018). The dividend would be equivalent to an annual rate of $1.24 per share. Dividends have been paid uninterrupted since 1901. At the indicated annual dividend rate and based on the closing price per share on May 9, 2018 of $33.87, HEI's dividend yield is 3.7%. WEBCAST AND CONFERENCE CALL TO DISCUSS EARNINGS AND EPS GUIDANCE Hawaiian Electric Industries, Inc. will conduct a webcast and conference call to review its first quarter 2018 earnings and 2018 EPS guidance on Thursday, May 10, 2018, at 7:30 a.m. Hawaii time (1:30 p.m. Eastern time). Interested parties within the United States may listen to the conference by calling (844) 834-0652 and international parties may listen to the conference by calling (412) 317-5198 or by accessing the webcast on HEI's website under the "Investor Relations" section, sub-heading "News and Events." HEI and Hawaiian Electric Company intend to continue to use HEI's website, www.hei.com , as a means of disclosing additional information. Such disclosures will be included on HEI's website in the Investor Relations section. Accordingly, investors should routinely monitor such portions of HEI's website, in addition to following HEI's, Hawaiian Electric Company's and American's press releases, HEI's and Hawaiian Electric Company's Securities and Exchange Commission (SEC) filings and HEI's public conference calls and webcasts. The information on HEI's website is not incorporated by reference in this document or in HEI's and Hawaiian Electric Company's SEC filings unless, and except to the extent, specifically incorporated by reference. Investors may also wish to refer to the Public Utilities Commission of the State of Hawaii (PUC) website at dms.puc.hawaii.gov/dms in order to review documents filed with and issued by the PUC. No information on the PUC website is incorporated by reference in this document or in HEI's and Hawaiian Electric Company's SEC filings. An online replay of the webcast will be available at www.hei.com beginning about two hours after the event. Replays of the conference call will also be available approximately two hours after the event through May 24, 2018, by dialing (877) 344-7529 or (412) 317-0088 and entering passcode: 10119007. HEI supplies power to approximately 95% of Hawaii's population through its electric utilities, Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc. and Maui Electric Company, Limited; provides a wide array of banking and other financial services to consumers and businesses through American Savings Bank, one of Hawaii's largest financial institutions; and helps advance Hawaii's clean energy and sustainability goals through investments by its non-regulated subsidiary, Pacific Current, LLC. 3 Bank return on average equity calculated using weighted average daily common equity. NON-GAAP MEASURES See "Explanation of HEI's Use of Certain Unaudited Non-GAAP Measures" and related reconciliations on page 10 of this release. FORWARD-LOOKING STATEMENTS This release may contain "forward-looking statements," which include statements that are predictive in nature, depend upon or refer to future events or conditions, and usually include words such as "will," "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates" or similar expressions. In addition, any statements concerning future financial performance, ongoing business strategies or prospects or possible future actions are also forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and are subject to risks, uncertainties and the accuracy of assumptions concerning HEI and its subsidiaries, the performance of the industries in which they do business and economic, political and market factors, among other things. These forward-looking statements are not guarantees of future performance. Forward-looking statements in this release should be read in conjunction with the "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" discussions (which are incorporated by reference herein) set forth in HEI's Annual Report on Form 10-K for the year ended December 31, 2017 and HEI's other periodic reports that discuss important factors that could cause HEI's results to differ materially from those anticipated in such statements. These forward-looking statements speak only as of the date of the report, presentation or filing in which they are made. Except to the extent required by the federal securities laws, HEI, Hawaiian Electric Company, American and their subsidiaries undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Hawaiian Electric Industries, Inc. (HEI) and Subsidiaries CONSOLIDATED STATEMENTS OF INCOME DATA (Unaudited) Three months ended March 31 (in thousands, except per share amounts) 2018 2017 Revenues Electric utility $ 570,427 $ 518,611 Bank 75,419 72,856 Other 28 95 Total revenues 645,874 591,562 Expenses Electric utility 519,058 468,250 Bank 50,532 48,501 Other 4,395 5,073 Total expenses 573,985 521,824 Operating income (loss) Electric utility 51,369 50,361 Bank 24,887 24,355 Other (4,367) (4,978) Total operating income 71,889 69,738 Retirement defined benefits expense—other than service costs (1,833) (1,876) Interest expense, net—other than on deposit liabilities and other bank borrowings (21,518) (19,568) Allowance for borrowed funds used during construction 1,444 889 Allowance for equity funds used during construction 3,294 2,399 Income before income taxes 53,276 51,582 Income taxes 12,556 16,916 Net income 40,720 34,666 Preferred stock dividends of subsidiaries 473 473 Net income for common stock $ 40,247 $ 34,193 Basic earnings per common share $ 0.37 $ 0.31 Diluted earnings per common share $ 0.37 $ 0.31 Dividends declared per common share $ 0.31 $ 0.31 Weighted-average number of common shares outstanding 108,818 108,674 Weighted-average shares assuming dilution 109,024 108,858 Net income (loss) for common stock by segment Electric utility $ 27,475 $ 21,465 Bank 18,960 15,813 Other (6,188) (3,085) Net income for common stock $ 40,247 $ 34,193 Comprehensive income attributable to Hawaiian Electric Industries, Inc. $ 27,474 $ 35,178 Return on average common equity (twelve months ended) 1 8.2 % 12.5 % The Consolidated Statements of Income Data reflects the retrospective application of ASU No. 2017-07, "Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost," which was adopted in first quarter 2018. Nonservice cost was reclassified from "Expenses" to "Retirement defined benefits expense—other than service costs." This information should be read in conjunction with the consolidated financial statements and the notes thereto in HEI filings with the SEC. 1 On a core basis, 2018 and 2017 returns on average common equity (twelve months ended March 31) were 8.9% and 9.4%, respectively. See reconciliation of GAAP to non-GAAP measures. Hawaiian Electric Company, Inc. (Hawaiian Electric) and Subsidiaries CONSOLIDATED STATEMENTS OF INCOME DATA (Unaudited) Three months ended March 31 (dollars in thousands, except per barrel amounts) 2018 2017 Revenues $ 570,427 $ 518,611 Expenses Fuel oil 166,968 144,270 Purchased power 139,910 127,124 Other operation and maintenance 107,610 98,817 Depreciation 50,466 48,216 Taxes, other than income taxes 54,104 49,823 Total expenses 519,058 468,250 Operating income 51,369 50,361 Allowance for equity funds used during construction 3,294 2,399 Retirement defined benefits expense—other than service costs (1,264) (1,423) Interest expense and other charges, net (17,694) (17,504) Allowance for borrowed funds used during construction 1,444 889 Income before income taxes 37,149 34,722 Income taxes 9,175 12,758 Net income 27,974 21,964 Preferred stock dividends of subsidiaries 229 229 Net income attributable to Hawaiian Electric 27,745 21,735 Preferred stock dividends of Hawaiian Electric 270 270 Net income for common stock $ 27,475 $ 21,465 Comprehensive income attributable to Hawaiian Electric $ 27,506 $ 21,924 OTHER ELECTRIC UTILITY INFORMATION Kilowatthour sales (millions) Hawaiian Electric 1,497 1,525 Hawaii Electric Light 257 253 Maui Electric 258 260 2,012 2,038 Average fuel oil cost per barrel $ 80.68 $ 65.85 Return on average common equity (twelve months ended) 1 6.91 % 7.84 % The Consolidated Statements of Income Data reflects the retrospective application of ASU No. 2017-07, "Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost," which was adopted in first quarter 2018. Nonservice cost was reclassified from "Other operation and maintenance" to "Retirement defined benefits expense—other than service costs." This information should be read in conjunction with the consolidated financial statements and the notes thereto in Hawaiian Electric filings with the SEC. 1 Simple average. On a core basis, 2018 and 2017 returns on average common equity (twelve months ended March 31) were 7.4% and 7.9%, respectively. See reconciliation of GAAP to non-GAAP measures. American Savings Bank, F.S.B. STATEMENTS OF INCOME DATA (Unaudited) Three months ended (in thousands) March 31, 2018 December 31, 2017 March 31, 2017 Interest and dividend income Interest and fees on loans $ 52,800 $ 51,986 $ 50,742 Interest and dividends on investment securities 9,202 8,230 6,980 Total interest and dividend income 62,002 60,216 57,722 Interest expense Interest on deposit liabilities 2,957 2,802 2,103 Interest on other borrowings 496 386 816 Total interest expense 3,453 3,188 2,919 Net interest income 58,549 57,028 54,803 Provision for loan losses 3,541 3,670 3,907 Net interest income after provision for loan losses 55,008 53,358 50,896 Noninterest income Fees from other financial services 4,654 5,741 5,610 Fee income on deposit liabilities 5,189 5,678 5,428 Fee income on other financial products 1,654 1,464 1,866 Bank-owned life insurance 871 1,374 983 Mortgage banking income 613 305 789 Other income, net 436 388 458 Total noninterest income 13,417 14,950 15,134 Noninterest expense Compensation and employee benefits 24,440 23,836 23,042 Occupancy 4,280 4,076 4,154 Data processing 3,464 3,531 3,280 Services 3,047 3,005 2,360 Equipment 1,728 1,899 1,748 Office supplies, printing and postage 1,507 1,676 1,535 Marketing 645 1,211 517 FDIC insurance 713 608 728 Other expense 4,101 5,470 4,506 Total noninterest expense 43,925 45,312 41,870 Income before income taxes 24,500 22,996 24,160 Income taxes 5,540 6,137 8,347 Net income $ 18,960 $ 16,859 $ 15,813 Comprehensive income $ 6,885 $ 10,245 $ 16,648 OTHER BANK INFORMATION (annualized %, except as of period end) Return on average assets 1.12 1.01 0.98 Return on average equity 12.58 11.09 10.82 Return on average tangible common equity 14.57 12.82 12.58 Net interest margin 3.76 3.68 3.68 Efficiency ratio 61.04 62.95 59.87 Net charge-offs to average loans outstanding 0.28 0.26 0.29 As of period end Nonaccrual loans to loans receivable held for investment 0.53 0.51 0.41 Allowance for loan losses to loans outstanding 1.14 1.15 1.19 Tangible common equity to tangible assets 7.66 7.81 7.78 Tier-1 leverage ratio 8.6 8.6 8.5 Total capital ratio 14.0 14.2 13.6 Dividend paid to HEI (via ASB Hawaii, Inc.) ($ in millions) $ 10.9 $ 9.4 $ 9.4 The Statements of Income Data reflects the retrospective application of ASU No. 2017-07, "Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost," which was adopted in first quarter 2018. Nonservice cost was reclassified from "Compensation and employee benefits" to "Other expense." This information should be read in conjunction with the consolidated financial statements and the notes thereto in HEI filings with the SEC. EXPLANATION OF HEI'S USE OF CERTAIN UNAUDITED NON-GAAP MEASURES HEI and Hawaiian Electric Company management use certain non-GAAP measures to evaluate the performance of HEI and the utility. Management believes these non-GAAP measures provide useful information and are a better indicator of the companies' core operating activities than the corresponding GAAP measures given the non-recurring nature of certain items. Non-GAAP core measures presented here may not be comparable to similarly titled measures used by other companies. The accompanying tables provide the return on average common equity (ROACE) and adjusted non-GAAP core ROACE for HEI and the utility. The reconciling adjustments from GAAP earnings to core earnings used in the calculation of the twelve months ended March 31, 2017 ROACE include income, costs and associated taxes related to the terminated merger between HEI and NextEra Energy, Inc., the cancelled spin-off of ASB Hawaii, Inc. and the terminated liquefied natural gas contract which, to remain in effect, required Hawaii Public Utilities Commission approval of the merger with NextEra Energy, Inc. For more information on the transactions, see HEI's Form 8-K filed on July 18, 2016, and HEI's Form 8-K filed on July 19, 2016. The reconciling adjustments from GAAP earnings to core earnings used in the calculation of the twelve months ended March 31, 2018 ROACE exclude the impact of the federal tax reform act recorded in the fourth quarter of 2017 due to the adjustment of deferred tax balances and the $1,000 employee bonuses paid by the bank related to federal tax reform. Management does not consider these items to be representative of the company's fundamental core earnings and has shown the non-GAAP (core) ROACE in order to provide better comparability between periods. The accompanying table also provides the calculation of utility GAAP other operation and maintenance (O&M) expense adjusted for "O&M-related net income neutral items," which are O&M expenses covered by specific surcharges or by third parties. These "O&M-related net income neutral items" are grossed-up in revenue and expense and do not impact net income. RECONCILIATION OF GAAP 1 TO NON-GAAP MEASURES Hawaiian Electric Industries, Inc. and Subsidiaries (HEI) Unaudited Twelve months ended March 31 2018 2017 HEI CONSOLIDATED RETURN ON AVERAGE COMMON EQUITY (ROACE) (simple average) Based on GAAP 8.2 % 12.5 % Based on non-GAAP (core) 2 8.9 % 9.4 % Hawaiian Electric Company, Inc. and Subsidiaries Twelve months ended March 31 2018 2017 HAWAIIAN ELECTRIC CONSOLIDATED RETURN ON AVERAGE COMMON EQUITY (ROACE) (simple average) Based on GAAP 6.91 % 7.84 % Based on non-GAAP (core) 2 7.41 % 7.88 % Three months ended March 31 ($ in millions) 2018 2017 HAWAIIAN ELECTRIC CONSOLIDATED OTHER OPERATION AND MAINTENANCE (O&M) EXPENSE GAAP (as reported) $ 107.6 $ 98.8 Excluding other O&M-related net income neutral items 3 0.3 1.1 Non-GAAP (Adjusted other O&M expense) $ 107.3 $ 97.7 Note: Columns may not foot due to rounding 1 Accounting principles generally accepted in the United States of America 2 Calculated as core net income divided by average GAAP common equity 3 Expenses covered by surcharges or by third parties recorded in revenues Contact: Julie R. Smolinski Telephone: (808) 543-7300 Manager, Investor Relations E-mail: ir@hei.com View original content with multimedia: http://www.prnewswire.com/news-releases/hei-reports-first-quarter-2018-earnings-300646241.html SOURCE Hawaiian Electric Industries, Inc.

http://www.cnbc.com/2018/05/10/pr-newswire-hei-reports-first-quarter-2018-earnings.html

PDC Energy Announces 2018 First Quarter Operating and Financial Results Including Production Increase of 34% to 8.9 Million Barrels of Oil Equivalent

DENVER, May 02, 2018 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) today reported its 2018 first quarter operating and financial results. First Quarter 2018 Highlights Year-over-year total production increase of 34 percent to 8.9 million barrels of oil equivalent (MMBoe) or approximately 99,000 Boe per day. Year-over-year oil production increase of 51 percent to 3.8 million barrels (MMBbls), representing 43 percent of total production. Total crude oil, natural gas and NGLs sales of approximately $305 million, a 61 percent increase compared to first quarter 2017 sales of approximately $190 million. Net cash from operating activities of approximately $205 million, a 47 percent increase compared to first quarter 2017 levels of approximately $140 million. Completed the previously disclosed sale of Utica Shale assets and amendment to an existing Wattenberg oil gathering agreement for total proceeds of approximately $65 million. The Company recently executed a firm, long-term sales agreement beginning in June 2018 that provides takeaway capacity for the majority of its 2018 and 2019 Delaware basin oil production and diversifies price exposure towards a Brent-based index. CEO Commentary President and Chief Executive Officer, Bart Brookman commented, “Our operating and financial results were slightly ahead of internal expectations thanks to smooth execution and stronger commodity pricing. Today, we are a few short months away from the much anticipated midstream expansions in Wattenberg, which should greatly enhance operational and financial performance in the second half of 2018. In the Delaware, our operating results continue to improve and our newly executed firm sales agreement is a big step towards ensuring PDC’s production in the area has a reliable and price-competitive outlet. For the balance of 2018, look for PDC to remain committed to executing our cash flow neutral capital program while exiting the year with an undrawn revolver.” Operations Update Production 2018 was 8.9 MMBoe, or approximately 99,000 Boe per day, an increase of 34 percent from the first quarter of 2017. Oil production of 3.8 MMBbls in the first quarter of 2018 represents 43 percent of total production and was an increase of 51 percent compared to first quarter of 2017 volumes and two percent from the fourth quarter of 2017. The Company's capital investment in the development of oil and natural gas properties and other capital expenditures, before the change in accounts payable, was approximately $250 million in the quarter and includes several Wattenberg wells being turned-in-line approximately two weeks ahead of schedule. In the Wattenberg, the Company spud 35 and turned-in-line 29 gross operated wells in the first quarter while continuing to employ one full-time completions crew. In the Delaware Basin, the Company spud eight and turned-in-line seven wells in the first quarter, including five in the North Central area delivering positive early production results. The wells, which include a mixture of Wolfcamp A and B, standard- and mid-reach laterals, have yet to reach peak production, and are currently averaging approximately 1,150 Boe per day with 55 percent crude oil. These results are slightly ahead of internal expectations through early flowback. Marketing and Midstream Update In April 2018, PDC entered into a firm oil transportation agreement with Tallgrass Energy to transport 12,500 gross operated Wattenberg barrels per day via pipeline to Cushing, OK and area refineries. The Company continues to work closely with its primary third-party gathering and processing midstream provider in the basin to plan for expected midstream expansions coming online in 2018, 2019 and over the long-term. In May 2018, the Company successfully executed a firm sales agreement beginning in June for a significant portion of its Delaware Basin oil production with the marketing division of a large international energy company. As a result of this five and a half year agreement, PDC has ensured firm physical takeaway for approximately 85 percent of its forecasted 2018 and 2019 Delaware Basin oil volumes. The agreement is expected to provide price diversification through realization of export market pricing and exposure to Brent-weighted prices from volumes sold at a Corpus Christi terminal. The Company expects to realize between 88 and 92 percent of NYMEX pricing on all its Delaware Basin 2018 and 2019 projected oil volumes. When combined with the Company’s existing 10,000 barrel per day agreement for in-field gathering with Oryx Midstream Services and planned investment of approximately $20 million in its own oil gathering system in 2018, PDC believes this agreement ensures its ability to successfully produce and deliver volumes in accordance with its current development plan. Oil and Gas Production, Sales and Operating Cost Data Crude oil, natural gas and NGLs sales, excluding net settlements on derivatives, increased 61% to $305.2 million in the first quarter of 2018, compared to $189.7 million in the first quarter of 2017. The increase in sales was due to a 34% increase in total production and an increase in the sales price per Boe, excluding net settlements on derivatives, of 20% to $34.26 in the first quarter of 2018 from $28.53 in the comparable 2017 period. Including the impact of net settlements on derivatives, combined revenues increased 47 percent to $279.2 million from $190.2 million between periods. The following table provides production and weighted-average sales price, by area, for the three months ended March 31, 2018 and 2017, excluding net settlements on derivatives and TGP: Three Months Ended March 31, 2018 2017 Percent Change Crude oil (MBbls) Wattenberg Field 2,881 2,142 34.5 % Delaware Basin 871 275 * Utica Shale 46 91 (49.5 )% Total 3,798 2,508 51.4 % Weighted-Average Sales Price $ 59.62 $ 49.04 21.6 % Natural gas (MMcf) Wattenberg Field 15,524 13,714 13.2 % Delaware Basin 3,649 1,246 * Utica Shale 414 624 (33.7 )% Total 19,587 15,584 25.7 % Weighted-Average Sales Price $ 1.97 $ 2.37 (16.9 )% NGLs (MBbls) Wattenberg Field 1,428 1,358 5.2 % Delaware Basin 383 131 * Utica Shale 35 54 (35.2 )% Total 1,846 1,543 19.6 % Weighted-Average Sales Price $ 21.80 $ 19.29 13.0 % Crude oil equivalent (MBoe) Wattenberg Field 6,896 5,786 19.2 % Delaware Basin 1,862 613 * Utica Shale 150 249 (39.8 )% Total 8,908 6,648 34.0 % Weighted-Average Sales Price $ 34.26 $ 28.53 20.1 % Production costs of 2018, which include lease operating expenses (“LOE”), production taxes and transportation, gathering and processing expenses (“TGP”), were $57.1 million, or $6.41 per Boe, compared to $38.1 million, or $5.74 per Boe, for the comparable 2017 period. Wattenberg LOE per Boe in the first quarter of 2018 was $3.02 compared to $2.66 in the first quarter of 2017. The increase in LOE per Boe between periods is primarily due to high line pressures, gathering line freezing issues and unexpected gathering system facility downtime as well as increased costs associated with air regulations. Delaware Basin LOE per Boe decreased between periods to $4.44 from $6.48, primarily as a result of increased production volumes. The Company expects total LOE per Boe for the year to be within its previously released guidance range. The following table provides the components of production costs for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Lease operating expenses $ 29.6 $ 19.8 Production taxes 20.2 12.4 Transportation, gathering and processing expenses 7.3 5.9 Total $ 57.1 $ 38.1 Three Months Ended March 31, 2018 2017 Lease operating expenses per Boe $ 3.33 $ 2.98 Production taxes per Boe 2.26 1.87 Transportation, gathering and processing expenses per Boe 0.82 0.89 Total per Boe $ 6.41 $ 5.74 Financial Results and Liquidity Net loss of 2018 was $13.1 million, or $0.20 per diluted share, compared to net income of $46.1 million, or $0.70 per diluted share, for the comparable 2017 period. The year-over-year difference was primarily attributable to a $47.2 million loss on net commodity price risk management activity in 2018, as well as first quarter 2018 impairments totaling $33.2 million. Adjusted net income in the first quarter, a non-GAAP financial measure defined below, was $3.0 million, or $0.05 per diluted share in 2018 compared to an adjusted net loss of $4.1 million, or $0.06 per diluted share in 2017. Net cash from operating activities was $205.1 million in the first quarter of 2018, compared to $139.5 million in the comparable 2017 period. Adjusted cash flows from operations, a non-GAAP financial measure defined below, were $174.9 million in the first quarter of 2018, compared to $113.7 million in the comparable 2017 period. The increase in cash flows in 2018 compared to 2017 was primarily a result of increased sales. 2018 Guidance The following table provides projected 2018 financial guidance, which remains unchanged from previous disclosure: Low High Production (MMBoe) 38.0 42.0 Capital Expenditures (millions) $ 850 $ 920 Operating Expenses Lease operating expenses ($/Boe) $ 2.75 $ 3.00 Transportation, gathering & processing expenses ($/Boe) $ 0.60 $ 0.80 Production taxes (% of Crude oil, natural gas & NGLs sales) 6 % 8 % General and administrative expense ($/Boe) $ 3.40 $ 3.70 Estimated Price Realizations (% of NYMEX) (excludes TGP) Crude Oil 91 % 95 % Natural Gas 55 % 60 % NGLs 30 % 35 % Non-GAAP Financial Measures PDC uses "adjusted cash flows from operations," "adjusted net income (loss)" and "adjusted EBITDAX," non-U.S. GAAP financial measures, for internal management reporting, when evaluating period-to-period changes and, in some cases, providing public guidance on possible future results. These measures are not measures of financial performance under U.S. GAAP and should be considered in addition to, not as a substitute for, net income (loss) or cash flows from operations, investing or financing activities, and should not be viewed as liquidity measures or indicators of cash flows reported in accordance with U.S. GAAP. The non-U.S. GAAP financial measures that we use may not be comparable to similarly titled measures reported by other companies. Also, in the future, PDC may disclose different non-U.S. GAAP financial measures in order to help investors more meaningfully evaluate and compare future results of operations to previously reported results of operations. PDC strongly encourages investors to review our financial statements and publicly filed reports in their entirety and not rely on any single financial measure. The following tables provide reconciliations of adjusted cash flows from operations, adjusted net income (loss) and adjusted EBITDAX to their most comparable U.S. GAAP measures (in millions, except per share data): Adjusted Cash Flows from Operations Three Months Ended March 31, 2018 2017 Adjusted cash flows from operations: Net cash from operating activities $ 205.1 $ 139.5 Changes in assets and liabilities (30.2 ) (25.8 ) Adjusted cash flows from operations $ 174.9 $ 113.7 Adjusted Net Income (Loss) Three Months Ended March 31, 2018 2017 Adjusted net income (loss): Net income (loss) $ (13.1 ) $ 46.1 (Gain) loss on commodity derivative instruments 47.2 (80.7 ) Net settlements on commodity derivative instruments (26.0 ) 0.5 Tax effect of above adjustments (5.1 ) 30.0 Adjusted net income (loss) $ 3.0 $ (4.1 ) Weighted-average diluted shares outstanding 66.0 66.1 Adjusted diluted earnings per share $ 0.05 $ (0.06 ) Adjusted EBITDAX Three Months Ended March 31, 2018 2017 Net income (loss) to adjusted EBITDAX: Net income (loss) $ (13.1 ) $ 46.1 (Gain) loss on commodity derivative instruments 47.2 (80.7 ) Net settlements on commodity derivative instruments (26.0 ) 0.5 Non-cash stock-based compensation 5.3 4.5 Interest expense, net 17.4 19.2 Income tax expense (benefit) (4.6 ) 26.3 Impairment of properties and equipment 33.2 2.2 Exploration, geologic, and geophysical expense 2.6 1.0 Depreciation, depletion, and amortization 126.8 109.3 Accretion of asset retirement obligations 1.3 1.8 Adjusted EBITDAX $ 190.1 $ 130.2 Cash from operating activities to adjusted EBITDAX: Net cash from operating activities $ 205.1 $ 139.5 Interest expense, net 17.4 19.2 Amortization of debt discount and issuance costs (3.2 ) (3.2 ) Gain (loss) on sale of properties and equipment (1.4 ) 0.2 Exploration, geologic, and geophysical expense 2.6 1.0 Other (0.2 ) (0.7 ) Changes in assets and liabilities (30.2 ) (25.8 ) Adjusted EBITDAX $ 190.1 $ 130.2 PDC ENERGY, INC. Condensed Consolidated Statements of Operations (unaudited, in thousands, except per share data) Three Months Ended March 31, 2018 2017 Revenues Crude oil, natural gas, and NGLs sales $ 305,225 $ 189,692 Commodity price risk management gain (loss), net (47,240 ) 80,704 Other income 2,615 3,311 Total revenues 260,600 273,707 Costs, expenses and other Lease operating expenses 29,636 19,789 Production taxes 20,169 12,399 Transportation, gathering, and processing expenses 7,313 5,902 Exploration, geologic, and geophysical expense 2,646 954 Impairment of properties and equipment 33,188 2,193 General and administrative expense 35,696 26,315 Depreciation, depletion, and amortization 126,788 109,316 Accretion of asset retirement obligations 1,288 1,768 (Gain) loss on sale of properties and equipment 1,432 (160 ) Other expenses 2,768 3,528 Total costs, expenses and other 260,924 182,004 Income (loss) from operations (324 ) 91,703 Interest expense (17,529 ) (19,467 ) Interest income 148 240 Income (loss) before income taxes (17,705 ) 72,476 Income tax (expense) benefit 4,566 (26,330 ) Net income (loss) $ (13,139 ) $ 46,146 Earnings per share: Basic $ (0.20 ) $ 0.70 Diluted $ (0.20 ) $ 0.70 Weighted-average common shares outstanding: Basic 65,957 65,749 Diluted 65,957 66,117 PDC ENERGY, INC. Condensed Consolidated Balance Sheets (unaudited, in thousands) March 31, 2018 December 31, 2017 Assets Current assets: Cash and cash equivalents $ 45,923 $ 180,675 Accounts receivable, net 181,025 197,598 Fair value of derivatives 28,610 14,338 Prepaid expenses and other current assets 8,897 8,613 Total current assets 264,455 401,224 Properties and equipment, net 4,231,257 3,933,467 Assets held-for-sale, net 1,647 40,084 Other assets 24,798 45,116 Total Assets $ 4,522,157 $ 4,419,891 Liabilities and Stockholders' Equity Liabilities Current liabilities: Accounts payable $ 195,703 $ 150,067 Production tax liability 36,650 37,654 Fair value of derivatives 110,683 79,302 Funds held for distribution 97,611 95,811 Accrued interest payable 13,760 11,815 Other accrued expenses 33,777 42,987 Total current liabilities 488,184 417,636 Long-term debt 1,154,528 1,151,932 Deferred income taxes 187,183 191,992 Asset retirement obligations 73,905 71,006 Fair value of derivatives 26,426 22,343 Other liabilities 94,557 57,333 Total liabilities 2,024,783 1,912,242 Commitments and contingent liabilities Stockholders' equity Common shares - par value $0.01 per share, 150,000,000 authorized, 65,999,010 and 65,955,080 issued as of March 31, 2018 and December 31, 2017, respectively 660 659 Additional paid-in capital 2,504,663 2,503,294 Retained earnings (deficit) (6,435 ) 6,704 Treasury shares - at cost, 29,255 and 55,927 as of March 31, 2018 and December 31, 2017, respectively (1,514 ) (3,008 ) Total stockholders' equity 2,497,374 2,507,649 Total Liabilities and Stockholders' Equity $ 4,522,157 $ 4,419,891 PDC ENERGY, INC. Condensed Consolidated Statements of Cash Flows (unaudited, in thousands) Three Months Ended March 31, 2018 2017 Cash flows from operating activities: Net income (loss) $ (13,139 ) $ 46,146 Adjustments to net income (loss) to reconcile to net cash from operating activities: Net change in fair value of unsettled commodity derivatives 21,202 (80,153 ) Depreciation, depletion and amortization 126,788 109,316 Impairment of properties and equipment 33,188 2,193 Accretion of asset retirement obligations 1,288 1,768 Non-cash stock-based compensation 5,261 4,454 (Gain) loss on sale of properties and equipment 1,432 (160 ) Amortization of debt discount and issuance costs 3,246 3,184 Deferred income taxes (4,809 ) 26,280 Other 515 722 Changes in assets and liabilities 30,177 25,750 Net cash from operating activities 205,149 139,500 Cash flows from investing activities: Capital expenditures for development of crude oil and natural gas properties (196,917 ) (129,826 ) Capital expenditures for other properties and equipment (1,066 ) (821 ) Acquisition of crude oil and natural gas properties, including settlement adjustments (180,825 ) 6,181 Proceeds from sale of properties and equipment 20 737 Proceeds from divestiture 39,023 — Restricted cash 1,249 — Purchases of short-term investments — (49,890 ) Net cash from investing activities (338,516 ) (173,619 ) Cash flows from financing activities: Proceeds from revolving credit facility 35,000 — Repayment of revolving credit facility (35,000 ) — Purchase of treasury stock (2,255 ) (2,017 ) Other (379 ) (340 ) Net cash from financing activities (2,634 ) (2,357 ) Net change in cash, cash equivalents, and restricted cash (136,001 ) (36,476 ) Cash, cash equivalents, and restricted cash, beginning of period 189,925 244,100 Cash, cash equivalents, and restricted cash, end of period $ 53,924 $ 207,624 2018 First Quarter Teleconference and Webcast The Company invites you to join Bart Brookman, President and Chief Executive Officer; Scott Meyers, Senior Vice President Chief Financial Officer; Lance Lauck, Executive Vice President Corporate Development and Strategy; and Scott Reasoner, Senior Vice President Chief Operating Officer, for a conference call on Thursday, May 3, 2018, to discuss its 2018 first quarter results. The related slide presentation will be available on PDC's website at www.pdce.com . Conference Call and Webcast: Date/Time: Thursday, May 3, 2018, 11:00 a.m. ET Webcast available at: www.pdce.com Domestic (toll free): 877-312-5520 International: 253-237-1142 Conference ID: 7479839 Replay Numbers: Domestic (toll free): 855-859-2056 International: 404-537-3406 Conference ID: 7479839 The replay of the call will be available for six months on PDC's website at www.pdce.com . Upcoming Investor Presentations PDC is scheduled to attend the following conferences: Tudor Pickering Holt Conference in Houston on Tuesday, May 15, 2018 and the Wells Fargo West Coast Energy Conference in San Francisco on Tuesday, June 12, 2018. The Company is scheduled to present at the JP Morgan Energy Conference in New York on Tuesday, June 19, 2018. Webcast information for the JP Morgan Energy Conference will be posted to the Company’s website, www.pdce.com , prior to the start of the conference, along with any presentation materials. About PDC Energy, Inc. PDC Energy, Inc. is a domestic independent exploration and production company that acquires, produces, develops, and explores for crude oil, natural gas and NGLs with operations in the Wattenberg Field in Colorado and in the Delaware Basin in West Texas. Its operations are focused on the liquid-rich horizontal Niobrara and Codell plays in the Wattenberg Field and the liquid-rich Wolfcamp zones in the Delaware Basin. NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities Act"), Section 21E of the Securities Exchange Act of 1934 ("Exchange Act"), and the United States ("U.S.") Private Securities Litigation Reform Act of 1995 regarding our business, financial condition, results of operations, and prospects. All statements other than statements of historical fact included in and incorporated by reference into this report are "forward-looking statements". Words such as expects, anticipates, intends, plans, believes, seeks, estimates, outlook, targets, and similar expressions or variations of such words are intended to identify forward-looking statements herein. Forward-looking statements include, among other things, statements regarding future: production, costs, and cash flows; drilling locations and zones and growth opportunities; commodity prices and differentials; capital expenditures and projects, including the number of rigs employed and the number of completion crews; renegotiation of our credit facility; management of lease expiration issues; financial ratios; certain accounting and tax change impacts; midstream capacity and related curtailments; our ability to meet our volume commitments to midstream providers; ongoing compliance with our consent decree; and the timing and adequacy of infrastructure projects of our midstream providers. The above statements are not the exclusive means of identifying forward-looking statements herein. Although forward-looking statements contained in this press release reflect the Company’s good faith judgment, such statements can only be based on facts and factors currently known to it. Forward-looking statements are always subject to risks and uncertainties, and become subject to greater levels of risk and uncertainty as they address matters further into the future. Throughout this press release or accompanying materials, the Company may use the term “projection” or similar terms or expressions, or indicate that it has “modeled” certain future scenarios. PDC typically uses these terms to indicate its current thoughts on possible outcomes relating to its business or the industry in periods beyond the current fiscal year. Because such statements relate to events or conditions further in the future, they are subject to increased levels of uncertainty. Important factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to: changes in worldwide production volumes and demand, including economic conditions that might impact demand and prices for the products it produces; volatility of commodity prices for crude oil, natural gas, and natural gas liquids ("NGLs") and the risk of an extended period of depressed prices; reductions in the borrowing base under its revolving credit facility; impact of governmental policies and/or regulations, including changes in environmental and other laws, the interpretation and enforcement of those laws and regulations, liabilities arising thereunder, and the costs to comply with those laws and regulations; declines in the value of its crude oil, natural gas, and NGLs properties resulting in further impairments; changes in estimates of proved reserves; inaccuracy of reserve estimates and expected production rates; potential for production decline rates from its wells being greater than expected; timing and extent of its success in discovering, acquiring, developing, and producing reserves; availability of sufficient pipeline, gathering, and other transportation facilities and related infrastructure to process and transport its production and the impact of these facilities and regional capacity on the prices received for production; timing and receipt of necessary regulatory permits; risks incidental to the drilling and operation of crude oil and natural gas wells; losses from its gas marketing business exceeding its expectations; difficulties in integrating its operations as a result of any significant acquisitions, including its pending acquisitions and acreage exchanges in the Wattenberg Field; increases or changes in operating costs, severance and ad valorem taxes, and increases or changes in drilling, completion, and facilities costs; availability of supplies, materials, contractors and services that may delay the drilling or completion of its wells; potential losses in acreage due to lease expirations or otherwise; increases or adverse changes in construction costs and procurement costs associated with future build out of midstream-related assets; future cash flows, liquidity, and financial condition; competition within the oil and gas industry; availability and cost of capital; success in marketing crude oil, natural gas, and NGLs; effect of crude oil and natural gas derivatives activities; impact of environmental events, governmental and other third-party responses to such events, and its ability to insure adequately against such events; cost of pending or future litigation; effect that acquisitions it may pursue has on its capital requirements; its ability to retain or attract senior management and key technical employees; and success of strategic plans, expectations, and objectives for its future operations. Further, PDC urges you to carefully review and consider the cautionary statements and disclosures, specifically those under the heading " Risk Factors ," made in its Quarterly Report on Form 10-Q, its Annual Report on Form 10-K for the year ended December 31, 2016 (the "2016 Form 10-K"), filed with the U.S. Securities and Exchange Commission ("SEC") on February 28, 2017 and amended on May 1, 2018, and other filings with the SEC for further information on risks and uncertainties that could affect the Company’s business, financial condition, results of operations, and prospects, which are incorporated by this reference as though fully set forth herein. PDC cautions you not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. The Company undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this report or currently unknown facts or conditions or the occurrence of unanticipated events. All forward-looking statements are qualified in their entirety by this cautionary statement. Contacts: Michael Edwards Senior Director Investor Relations 303-860-5820 michael.edwards@pdce.com Kyle Sourk Manager Investor Relations 303-318-6150 kyle.sourk@pdce.com Source:PDC Energy, Inc.

http://www.cnbc.com/2018/05/02/globe-newswire-pdc-energy-announces-2018-first-quarter-operating-and-financial-results-including-production-increase-of-34-percent-to-8.html

UPDATE 1-Spreadbetter Plus500 posts five-fold jump in Q1 core earnings

May 1, 2018 / 7:56 AM / Updated an hour ago UPDATE 1-Spreadbetter Plus500 posts five-fold jump in Q1 core earnings Reuters Staff 3 Min Read (Adds details, background) May 1 (Reuters) - British spreadbetting company Plus500 Ltd reported a five-fold jump in its first-quarter core earnings on Tuesday, helped by a spike in customer numbers seeking to cash in on the crypto-currency trading boom. British online trading platforms signed up record numbers of customers last year, partly due to a rise in demand to trade soaring prices of virtual currency like Bitcoin, and despite tighter regulatory supervision of the spreadbetting industry, which involves betting on price moves of a security. Shares in the company rose as much as 15 percent to a record high of 1,620 pence, making the stock one of the highest gainers on the London Stock Exchange. Plus500 signed up 72,960 new customers in the quarter ended March 31, compared to 22,210 new customers a year earlier. The number of active customers also rose to 218,187 from 71,827 a year ago. Core earnings rose to $237.3 million from $45.8 million, while revenue surged nearly four times to $297.3 million. Plus500 said the high levels of new customer sign ups it saw in the first quarter had returned to more typical levels in the last two months, adding that it did not expect the first quarter growth to be repeated in the remainder of the year. The company, which provides an online trading platform for retail customers to trade contracts for differences (CFDs), had said in February it expected 2018 revenue to be significantly ahead of market expectations. The board on Tuesday reiterated the same expectation for forecast-beating financial performance for the year, without providing details on new targets, citing the company’s low cost base and flexible business model. The European Union’s securities watchdog said last month it would ban ‘binary’ options sales to retail clients and restrict the sales of CFDs to protect investors from significant losses, knocking shares in Britain’s spreadbetters. Plus 500 said on Tuesday it had also started a process to look at whether its experienced customers could be reclassified as professional investors, and retain the right to trade using higher leverage. (Reporting by Arathy S Nair in Bengaluru; Editing by Amrutha Gayathri and Sinead Cruise)

https://www.reuters.com/article/plus500-results/update-1-spreadbetter-plus500-posts-five-fold-jump-in-q1-core-earnings-idUSL3N1S81I5

Buffett targets CEO for Berkshire-Amazon-JPMorgan healthcare venture soon

May 5, 2018 / 7:18 PM / Updated 5 hours ago Buffett targets CEO for Berkshire-Amazon-JPMorgan healthcare venture soon Jonathan Stempel 3 Min Read OMAHA, Neb. (Reuters) - Warren Buffett on Saturday said he hoped a chief executive would be found within a couple of months for the healthcare company being set up by Berkshire Hathaway Inc, Amazon.com Inc and JPMorgan Chase & Co. to lower patient costs. Warren Buffett, CEO of Berkshire Hathaway Inc, talks to a reporter in the exhibit hall at the company's annual meeting in Omaha, Nebraska, U.S., May 5, 2018. REUTERS/Rick Wilking Speaking at the annual shareholder meeting of his Berkshire Hathaway Inc conglomerate, Buffett maintained that healthcare is a “tapeworm” on American businesses, hurting their ability to compete with rivals in other countries. While there is no guarantee the venture between Amazon.com, Berkshire and JPMorgan, which collectively employ more than 1 million people, will succeed, Buffett said it is well positioned to try. “I think we’ll have a CEO within a couple of months,” Buffett said. “We want our employees to get better medical services at lower cost ... The resistance will be unbelievable, and if we fail, at least we tried.” Amazon.com’s reputation as a disruptor prompted investors in January, when the venture was announced, to sell shares of companies that might be hurt. These included drugmakers, health insurers and pharmacy benefit managers (PBMs) such as CVS Health Corp and Express Scripts Holding Co. Buffett said the goal was to challenge the entire healthcare industry, not individual segments. Yet Charlie Munger, Buffett’s longtime business partner and a Berkshire vice chairman, suggested that Democrats could take over Congress after November’s elections and push for a national healthcare system financed by a single payer. Munger predicted that such a change would harm drug benefit managers. “I suspect that eventually, when Democrats control both houses of Congress and the White House, that we will get single-payer medical care, and I don’t think it’ll be much more friendly than any of the PBMs,” Munger said. Buffett, famed for his love of junk food, has said spiralling healthcare costs are responsible for 18 percent of U.S. gross domestic product, up from 5 percent in 1960, and he wants to slash a few percentage points off. “We are attacking an industry moat,” Buffett said. Todd Combs, one of Buffett’s investment deputies and a JPMorgan director, is working on the joint venture with Marvelle Sullivan Berchtold, a managing director of JPMorgan, and Beth Galetti, a senior vice president at Amazon.com. “We want our employees to get better medical services at lower cost,” Buffett said. “We’re certainly going to give it a shot. We’ll see what happens.” Reporting by Jonathan Stempel in Omaha, Nebraska; Additional reporting by Trevor Hunnicutt; Editing by Jennifer Ablan and Nick Zieminski

https://www.reuters.com/article/uk-berkshire-buffett-healthcare/buffett-targets-ceo-for-berkshire-amazon-jpmorgan-healthcare-venture-soon-idUKKBN1I60SK

Term Sheet — Wednesday, May 16

By Polina Marinova 9:32 AM EDT CRYPTO UNICORN Good morning, Term Sheet readers. A few readers have asked me why I sometimes write about cryptocurrencies and the blockchain. (Cheers to the Term Sheet reader who said: “I’m tired of this crap.”) While I empathize with that sentiment, here’s the reason: Traditional venture capitalists are watching the space closely and many partners have been incredibly thoughtful about making their crypto play (see: Venrock ). But another reason is that this space is getting bigger, blockchain-focused companies are raising serious amounts of capital (yes, through traditional VC rounds), and some startups are quietly turning into unicorns. While no one was looking, Circle raised $110 million in funding at a nearly $3 billion valuation — that’s more than six times what it was worth in 2016. The deal comes just a few months after Circle purchased Poloniex , a Boston-based cryptocurrency exchange, for roughly $400 million. Bitmain, the biggest Bitcoin mining company in China, led the round, and was joined by investors including IDG Capital, Breyer Capital, General Catalyst, Accel, Digital Currency Group, Pantera, Blockchain Capital, and Tusk Ventures. As my colleague Robert Hackett notes , the investment has linked two of the biggest cryptocurrency companies from the world’s two biggest markets. IN OTHER RELATED NEWS: CityBlock Capital is a New York City-based venture capital platform issuing security tokens backed by equity in startups. It announced today NYCQ, a $20 million tokenized venture fund for investment into NYC startups. The company will source capital globally and allocate it to local investors. “Startups are seeking access to capital markets earlier in their life-cycles through token offerings, and there’s increased demand for liquidity among institutional investors,” said managing partner Rob Nance. What is a tokenized venture fund, you may ask? Stay tuned as I will be publishing an explainer to tokenized securities & what they mean for venture capital and private equity this Friday. IN OTHER UNRELATED NEWS: In a record NFL deal, hedge fund manager David Tepper has agreed to buy the Carolina Panthers from team founder Jerry Richardson, for a whopping $2.2 billion. The price tag is the most ever paid for an NFL franchise, eclipsing the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014. Read more. Advertisement THE LATEST FROM FORTUNE... • The Supreme Court Killed a Prohibition on Sports Betting. Now Let the Mergers Begin • SoftBank’s Founder Has Plans for Another Ginormous Tech Investment Fund • Air France-KLM Thinks Having 3(!) CEOs Is a Great Idea (by David Meyer) • Lyft Follows Uber in Ending Forced Arbitration For Sexual Harassment Claims (by Kirsten Korosec) VENTURE DEALS • Lulus , a Chico, Calif.-based digitally native apparel brand for women, raised $120 million in funding from IVP . • Auth0 , a Bellevue, Wash.-based Identity-as-a-Service (IDaaS) company, raised $55 million in Series D funding. Sapphire Ventures led the round, and was joined by investors including World Innovation Lab , Bessemer Venture Partners, Trinity Ventures, Meritech Capital Partners, and K9 Ventures. • MemSQL , a San Francisco-based provider of real-time databases for transactions and analytics, raised $30 million in Series D funding. Investors include GV , Glynn Capital, Accel, Caffeinated Capital, Data Collective, and IA Ventures. • Aircall , a Paris-based provider of software for startups and small businesses, raised $29 million in Series B funding. Draper Esprit led the round, and was joined by investors including Balderton Capital, NextWorld Capital, eFounders, and Newfund . • simplesurance , a Berlin-based smart insurance services platform provider, raised $24 million in Series C funding. Allianz led the round, and was joined by investors including Rheingau Founders and Rakuten Capital . • Vesper , a Boston-based advanced sensor company, raised $23 million in Series B funding. American Family Ventures led the round, and was joined by investors including Accomplice, Amazon Alexa Fund, Baidu, Bose Ventures, Hyperplane, Sands Capital, Shure, Synaptics and ZZ Capital. • KeyedIn , a Minneapolis-based provider of project management software, raised $15 million in Series C funding. Arrowroot Capital led the round. • BriteCore , a Springfield, Mo.-based insurance software company, raised $13 million in funding from Radian Capital. • Alloy.ai , a digital supply chain platform that connects consumer goods companies directly to end-consumer demand, raised $12 million in Series A funding. Menlo Ventures led the round, and was joined by investors including 8VC . • Beautiful.AI , a San Francisco, Calif.-based company that uses artificial intelligence to automate the visual design process, raised $11 million in Series B funding. Trinity Ventures led the round, and was joined by investors including Shasta Ventures and First Round Capital . • PriorAuthNow , a Columbus, Ohio-based platform for connecting the healthcare landscape using automated prior authorization solutions, raised $10.5 million in Series A funding. BIP Capital led the round, and was joined by investors including NCT Ventures and Detroit Venture Partners. • ShotTracker , a Merriam, Kansas-based basketball technology that captures stats and analytics in real-time, raised $10.4 million in Series A funding. Ward.Ventures led the round, and was joined by investors including Greycroft, Elysian Ventures, KC Rise Fund, Irish Angels and SeventySix Capital. • BrainQ , an Israel-based digital therapeutics company, raised $8.8 million in funding. Investors included Qure Ventures, OurCrowd.com, Norma Investments and IT-Farm. • DashDash , a Berlin-based developer of software solution that enables its users to create web apps, raised $8 million in Series A funding. Accel led the round, and was joined by investors including Cherry Ventures and Atlantic Labs. • Cambridge Blockchain Inc , a Cambridge, Mass.-based developer of blockchain-based identity management software, raised $7 million in Series A funding. HCM Capital led the round, and was joined by investors including Partech and Digital Currency Group. • OspreyData , a Houston, Texas and Orange County, Calif.-based provider of machine-learning-based predictive analytics platform for the oil and gas sector, raised $5 million in Series A funding. Houston Ventures led the round. • Thryve , a provider of microbiotics and microbiome testing, raised $1.4 million in funding. Investors include PivotNorth Capital, Unilever Ventures, Darling Ventures, Candela Paramount, Abstract Ventures and Joyance Partners. Advertisement HEALTH AND LIFE SCIENCES DEALS • Ansun BioPharma , a San Diego-based developer of anti-viral biologic therapeutics to combat severe viral respiratory tract infections, raised $85 million in Series A funding. Sinopharm Healthcare Fund and Lilly Asia Ventures led the round, and was joined by investors including Lyfe Capital, Yuanming Capital, Matrix Partners China, 3e Bioventures Capital, Oceanpine Capital, VI Ventures and Joincap Investment. • Genoox , an Israel-based genomic analysis company, raised $6 million in funding. Triventures led the round, and was joined by investors including Inimiti Capital and Glilot Capital Partners. Advertisement PRIVATE EQUITY DEALS • O2 Investment Partners invested in 1 Priority Environmental Services, a provider of asbestos abatement and related environmental services. Financial terms weren’t disclosed. • O2 Investment Partners invested in EMEX LLC , a Houston-based energy-focused services provider. Financial terms weren’t disclosed. • The KELA Group, an Israel-based provider of advanced cyber intelligence software and solutions, raised $50 million from Vector Capital . • International Market Centers , which is backed by Blackstone and Fireside Investments , agreed to acquire AmericasMart , an Atlanta-based wholesale marketplace that hosts trade markets and trade shows. Financial terms weren’t disclosed. • NovaQuest Capital Management LLC acquired a majority of Clinical Ink , a Winston Salem, N.C.-based provider of clinical research technology. Financial terms weren’t disclosed. • DCP Capital agreed to invest in Venus Medtech , a China-based developer of heart valves. Financial terms weren’t disclosed. Advertisement IPOs • Iterum Therapeutics , a Dublin-based firm for drug-resistant bacterial infections, said it plans to raise $79.5 million in an IPO of 5.3 million shares priced between $14 to $16 apiece. The firm posted revenue of $508,000 in 2017. Advent Life Sciences (8.1% pre-offering), Arix Bioscience Holdings (8.9%), and Canaan (15.7%) back the firm. Leerink Partners and RBC Capital Markets are underwriters in the deal. It plans to list on the Nasdaq as “ITRM.” Read more . Advertisement EXITS • EQT agreed to sell HTL-Strefa SA , a Poland-based medical device company, to Investindustrial . Financial terms weren’t disclosed. • Palladium Equity Partners sold the parent of Jordan Health Services, a home care provider, to Kelso & Company and Blue Wolf Capital Partners. • SunTx Capital Partners sold Carolina Beverage Group , a Mooresville, N.C.-based operator of a co-packing producer, to Brynwood Partners. Financial terms of the transaction were not disclosed. Advertisement FIRMS + FUNDS • Silverton Partners , an Austin-based venture capital firm, raised $108 million for its fifth fund. • Lerer Hippeau , a New York-based venture capital firm, raised $60.6 million for its second “select fund” for follow-on investments. Advertisement PEOPLE • Greylock Partners named Sarah Guo a general partner. • Pitango Venture Capital appointed Guy Ezekiel as a general partner. Previously, he was a venture partner at Pitango. • Steve Sachman joined Benefit Street Partners as a managing director in the private debt group. Advertisement SHARE TODAY'S TERM SHEET View this email in your browser . Polina Marinova produces Term Sheet, and Lucinda Shen compiles the IPO news. Send deal announcements to Polina here and IPO news to Lucinda here .

http://fortune.com/2018/05/16/term-sheet-wednesday-may-16/

Futures Now trades for Tuesday, May 29

19 Hours Ago | 19:44 Political turmoil in Italy sent stocks around the globe sinking on Tuesday. The "Futures Now" traders shared their trades as geopolitical concerns rocked stocks, bonds and crude market. Scott Nations is buying the Dow e-mini at 24,350 and targeting a move up to 24,500 with a stop at 24,250. The Dow plunged more than 400 points at its lows on Tuesday. Brian Stutland is buying the 10-year note futures at 120'10, targeting a move up to 121'14. His stop is at 119'26. Crude tumbled to April 17 lows. Scott Nations is buying the August monthly 70-strike calls in the crude oil futures July contract for $1.05, or $105 per options contract. The breakeven for this trade is $71.05. Trader disclosures: Scott is long the S&P e-mini and the VIX, he has no position in crude or the 10-year Treasury futures. Brian is long the S&P e-mini using options. He is also long the VIX, and has no position in crude or the 10-year Treasury futures.

https://www.cnbc.com/2018/05/29/futures-now-trades-for-tuesday-may-29.html

GM bets on 3D printers for cheaper and lighter car parts

May 3, 2018 / 4:19 AM / Updated 15 hours ago GM bets on 3D printers for cheaper and lighter car parts Nick Carey 3 Min Read DETROIT (Reuters) - General Motors Co said on Thursday it was working with design software company Autodesk Inc to manufacture new, lightweight 3D-printed parts that could help the automaker meet its goals to add alternative-fuel vehicles to its product lineup. FILE PHOTO - A Chevrolet Bolt EV vehicle is seen on the assembly line at General Motors Orion Assembly in Lake Orion, Michigan, U.S., March 19, 2018. Photo taken March 19, 2018. REUTERS/Rebecca Cook Last year, the company announced ambitious plans to add 20 new electric battery and fuel cell vehicles to its global lineup by 2023. Chief Executive Mary Barra has made a bold promise to investors that the Detroit automaker will make money selling electric cars by 2021. The ability to print lightweight parts could be a gamechanger for the electric vehicle industry. With consumer concerns over the limited range of electric vehicles a major obstacle to their mass adoption, making them lighter improves fuel efficiency and could help extend that range. GM executives this week showed off a 3D-printed stainless steel seat bracket developed with Autodesk technology - which uses cloud computing and artificial intelligence-based algorithms to rapidly explore multiple permutations of a part design. Using conventional technology, the part would require eight components and several suppliers. With this new system, the seat bracket consists of one part - which looks like a mix between abstract art and science fiction movie - that is 40 percent lighter and 20 percent stronger. Other manufacturers such as General Electric Co have also beefed up their use of 3D printers in manufacturing. GM rival automaker Ford Motor Co said last year it was testing lightweight 3D printing for mass production. GM has used 3D printers for prototyping for years, but Kevin Quinn, the automaker’s director of additive design and manufacturing, said within a year or so GM expects these new 3D-printed parts to appear in high-end, motorsports applications. Within five years, GM hopes to produce thousands or tens of thousands of parts at scale as the technology improves, Quinn said. “That is our panacea,” Quinn said. “That’s what we want to get to.” In the long run, Quinn said the 3D printed parts would help reduce tooling costs, cut the amount of material used, the number of suppliers needed for one part and logistics costs. The 3D-printing based manufacturing industry is working toward mass production and trying to address issues with “repeatability and robustness,” said Bob Yancey, Autodesk’s director of manufacturing. GM getting into the game “will put tremendous pressure” to make that happen, Yancey said. Reporting By Nick Carey, Editing by Rosalba O'Brien

https://www.reuters.com/article/us-general-motors-parts/gm-bets-on-3d-printers-for-cheaper-and-lighter-car-parts-idUSKBN1I408K

A Steve Wynn Picasso Painting, Worth Millions, Damaged Again

Steve Wynn does not have good luck with Picassos. For the second time in twelve years, one of the artist’s works has suffered damage under the ownership of the billionaire collector. The auction house Christie’s withdrew “Le Marin,” one of Picasso’s self-portraits, from its Tuesday auction after the $70 million painting was damaged on Friday. The painting was one of three owned by Wynn scheduled to be auctioned by Christie’s this week. The total sale for the three was expected to be as high as $135 million. In 2006, Wynn put his elbow through “Le Rêve,” another Picasso he owned, while showing it to friends. “Le Rêve,” a portrait of Picasso’s mistress Marie-Thérèse Walter, was also scheduled to be sold within days of the damage. In fact, a $139 million deal had already been signed with Steve Cohen, the hedge-fund manager and art collector, at the time the damage occurred. A restorer said the painting was only worth $85 million once it had been fixed, but that didn’t stop Steve Cohen from buying it for $155 million more than six years later, topping his original offer by $16 million. Christie's previewed Pablo Picasso's 'Le Marin' in Hong Kong in March. Philip Fong—AFP/Getty Images Wynn suffers from a disease that affects his peripheral vision, which may have played a role in the incident with “Le Rêve.” In February Wynn was forced to resign from the company he founded, Wynn Resorts, amid sexual harassment allegations. The nature and extent of the damage to “Le Marin” remains unclear.

http://fortune.com/2018/05/14/steve-wynn-picasso-painting/

Bitcoin Scammers Are Demanding Ransom for Lost Dogs

Bitcoin Scammers Are Demanding Ransom for Lost Dogs monicadoallo—Getty Images/iStockphoto By Carson Kessler 11:00 AM EDT Online scams demanding bitcoin currency are far from unusual, but in a new stunt, scammers are preying upon the devoted owners of lost dogs in North Carolina. On Sunday, Patricia Howell’s basset hound, Happy, went missing in Granville county. She immediately posted her phone number to Facebook , as well as on pet finder site, Pawboost. Soon after, Howell received a threatening text message demanding $600 worth of bitcoin in exchange for the safe return of the lost dog — only one problem, Happy was already home. The bitcoin scammer, who told Howell he was using a burner phone to avoid identification, claimed to have the lost basset hound. Howell would need to send the bitcoin ransom within five days, otherwise they would “sell it or kill it or whatever.” “I knew it was a scam because I had Happy, but it was heartless and cold and it was so mean-spirited,” Howell told CBS 17 . Howell filed a report with Granville County Sheriff’s Office for investigation. While this was the first reported case of this particular scam he’d personally encountered, the sheriff told CBS 17 news that he was familiar with similar bitcoin scams around the country. Howell and Happy weren’t the only ones in North Carolina to encounter the lost dog bitcoin scam. Fuquay-Varina county resident Raymond Brunet and his two lost dogs were also targeted by a similar scam. After posting his contact information on Triangle Pet Lost & Found, Brunet received an almost identical text from a burner phone, demanding $2,000 worth of bitcoin or else his two lost dogs would be killed within 10 days. Like Howell, Brunet had already found both of his dogs before the scammer sent the text. “They need to find a better way to make money,” Howell told CBS 17 news. “They need to leave people alone and realize that what they’re doing is hurtful and so cruel.”

http://fortune.com/2018/05/25/bitcoin-scam-lost-dogs/

UPDATE 1-Broadcaster ITV looks to World Cup for June advertising boost

(Adds detail, background) LONDON, May 10 (Reuters) - Britain’s biggest free-to-air commercial broadcaster said it expected net advertising to jump by around 15 percent in June as viewers tune in for the soccer World Cup, after it reported first-quarter trading in line with forecasts. Net advertising revenue was down 15 percent in April and is forecast to be flat in May before an expected jump of 15 percent in June as the month-long World Cup kicks off on ITV and the publicly-owned BBC on June 14. The company, which is in the middle of a strategic review under new CEO Carolyn McCall, said that while the economic environment remained uncertain, online advertising was growing strongly. “We expect ITV total advertising to be up 2 percent over the first half, but profits will reflect the timing of the football World Cup,” McCall said before ITV’s annual shareholder meeting later on Thursday. “Over the full year we are on track to deliver double digit growth in online revenue and good organic revenue growth in ITV Studios,” she added. Shares in ITV traded up 2.4 percent at 154.8 pence at 0705 GMT, making the stock one of the top risers on the FTSE 100 . ITV, under former boss Adam Crozier, rebuilt its business to grow revenues from online services and programme production to reduce its reliance on volatile advertising. Under McCall, the group wants to improve the way it sells its shows to other platforms to grow those revenues further. McCall said that a “strategic refresh” was progressing well and she would provide investors with an update at the group’s half-year results in July. The former boss of easyJet McCall has said ITV creates great shows in a market where broadcasters and online players such as Netflix are battling for content. But she has said it needs to make sure it is paid the appropriate amount by platforms for its content made by its studios. Analysts have welcomed the new focus but the shares are still highly sensitive to any change in advertising trends. Net ad revenue fell 5 percent in 2017. (Reporting by Kate Holton; Editing by Adrian Croft and Sarah Young)

https://www.reuters.com/article/itv-outlook/update-1-broadcaster-itv-looks-to-world-cup-for-june-advertising-boost-idUSL8N1SH1DV

PPG SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by the Board of Directors of PPG Industries, Inc.

NEW YORK--(BUSINESS WIRE)-- The Law Offices of Vincent Wong notifies investors of an investigation concerning whether PPG Industries, Inc. (“PPG” or the “Company”) (NYSE: PPG) violated federal securities laws. Click here to learn about the case: http://www.wongesq.com/pslra-c/ppg-industries-inc . There is no cost or obligation to you. On April 19, 2018, PPG disclosed it had received a report concerning possible violations of its accounting policies and the identification of approximately $1.4 million in expenses that should have been accrued in the first quarter. Then on May 10, 2018, PPG announced that certain previously issued financial statements could no longer be relied upon. As part of the investigation, the Company also determined that “certain improper accounting entries were made by certain employees at the direction of the Company’s former vice president and controller,” whose employment was terminated. To learn more about the investigation of PPG contact Vincent Wong, Esq. either via email vw@wongesq.com , by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra-c/ppg-industries-inc . Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes. View source version on businesswire.com : https://www.businesswire.com/news/home/20180523006030/en/ The Law Offices of Vincent Wong Vincent Wong, Esq., 212-425-1140 Fax: 866-699-3880 E-Mail: vw@wongesq.com Source: The Law Offices of Vincent Wong

http://www.cnbc.com/2018/05/23/business-wire-ppg-shareholder-alert-the-law-offices-of-vincent-wong-notifies-investors-of-an-investigation-involving-possible-securities.html

UPDATE 3-Oil prices fall as Russia floats gradual production increase

* Russia has been withholding supply with OPEC since 2017 * OPEC, non-OPEC producers to meet in June to discuss production * Russia says supply restrictions could be eased "softly" * OPEC, Russia are losing market share to other producers (Adds Jefferies bank comment, updates prices) SINGAPORE, May 25 (Reuters) - Oil prices fell on Friday as Russia hinted it may gradually increase output, after having withheld supplies in concert with producer cartel OPEC since 2017. Brent crude futures were at $78.43 per barrel at 0657 GMT, down 36 cents, or 0.5 percent, from their last close, and 2.6 percent below the $80.50 multi-year high they reached on May 17. Brent broke through $80 for the first time in more than three years earlier in May. U.S. West Texas Intermediate (WTI) crude futures were at $70.44 a barrel, down 27, or 0.4 percent, cents from their last settlement. "Oil prices are now starting to drift a little," said Greg McKenna, chief market strategist at futures brokerage AxiTrader, adding that this was due to OPEC's and Russia's "moves toward an increase in production" at a meeting scheduled for next month. The Middle East dominated Organization of the Petroleum Exporting Countries (OPEC) as well as a group of non-OPEC producers led by Russia started withholding output in 2017 to tighten the market and prop up prices. But Russia, in particular, has been floating a potential end to the production cuts, with energy minister Alexander Novak saying on Thursday that restrictions on oil production could be eased "softly" if OPEC and non-OPEC countries see the oil market balancing in June. "The Russians have always struck me as production cut tourists keen to get off the boat and crank up production as soon as inventories were stabilised and prices once again elevated ... That possibility is top of the mind for traders and as a result oil prices are slipping," McKenna said. U.S. investment bank Jefferies said that increased barrels by Russia and OPEC "may be necessary to keep the market supplied", especially if U.S. sanctions lead to a fall of Iranian exports later this year. HIGHER PRICES COME AT A COST While Russia and OPEC benefit from higher oil prices, which have risen by almost 20 percent since the end of last year, their voluntary output cuts have opened the door to other producers to ramp up output and gain market share. U.S. crude oil production <C-OUT-T-EIA> has risen by more than a quarter in the last two years, to 10.73 million barrels per day (bpd). Only Russia produces more, at around 11 million bpd. Output by producers like the United States, Canada or Brazil which are not bound by the OPEC/Russian led agreement to cut, will likely rise further as higher crude prices improve their profitability. "With oil prices rising more than costs, average industry profitability has turned positive this year," Bernstein Energy said in a note this week, adding that the 50 largest listed oil companies globally "need $47 per barrel oil prices to break even in aggregate". (Additional reporting by Roslan Khasawneh Editing by Joseph Radford and Richard Pullin)

https://www.cnbc.com/2018/05/25/reuters-america-update-3-oil-prices-fall-as-russia-floats-gradual-production-increase.html

Altice N.V. (Altice Europe) First Quarter 2018 Pro Forma¹ Results

AMSTERDAM--(BUSINESS WIRE)-- Regulatory News: Altice N.V. post-split of Altice USA (to be renamed “Altice Europe”) is delivering on its plan to improve operational performance - Q1 2018 showed the best subscriber trends Altice has ever reported France total fixed B2C customer base grew for the first time since Altice took control with +71k unique customer net additions in Q1 2018 (vs. -35k losses in Q1 2017), including the best fiber performance (+96k), supported by massive churn reduction and higher gross additions achieved through better operational processes; France B2C mobile postpaid customer base increased by +239k net additions in Q1 2018 (vs. +68k in Q1 2017), representing the best quarterly performance since Altice acquired SFR, achieved through better service quality leading to significant churn improvement; Significant improvement in overall customer satisfaction both in fiber and mobile demonstrating Altice fiber and content investments are key differentiators; Portugal total fixed B2C customer base grew for the second quarter in a row with unique customer net additions in Q1 2018 of +4k (vs. -28k in Q1 2017), supported by further reduction in churn to the lowest level ever. Fiber customer net additions were the highest ever in Q1 2018 with +49k new customers (vs. +31k in Q1 2017), supported by the rapid expansion of fiber coverage; MEO gained market share for the second quarter in a row demonstrating that Altice’s fiber and mobile infrastructure strategy is paying-off; Israel total fixed customer base grew for the first time since acquisition, adding +1k unique customer net additions in Q1 2018 (vs. -3k in Q1 2017) despite the intensification of competition in the market. Altice Europe revenue flat +0.0% YoY on a constant currency (CC) basis in Q1 2018. Altice Europe Adjusted EBITDA 2 declined -0.5% YoY on a CC basis in Q1 2018, a margin of 35.7% (-0.4% pts YoY vs. 36.1% in Q1 2017). Significant investment in networks, customer premise equipment and innovative new services with total capital expenditures for Altice Europe of €761m in Q1 2018 (an increase vs. €687m in Q1 2017): Leading fiber 3 operator in France reaching over 11 million homes passed as of Q1 2018 and 96% 4G mobile population coverage; Leading fiber operator in Portugal reaching 4.2 million homes passed as of Q1 2018 and 97% 4G mobile population coverage (65% 4G+ mobile population coverage). New management team for Altice Europe 4 once the split of Altice USA from Altice N.V. becomes effective: Team led by Patrick Drahi, heavily involved to enhance focus and execution; Alain Weill, currently Chairman and CEO of Altice France will become CEO of Altice Europe, given the increased prominence of the French business; Dennis Okhuijsen will remain CFO of Altice Europe while Malo Corbin, previously Altice Group Financial Controller, will assume the role of Finance Director, Gerrit Jan Bakker will remain Altice Europe Treasurer and Coralie Durbec will be in charge of Altice Europe Investor Relations; Natacha Marty will become Altice Europe General Counsel; Armando Pereira, currently SFR Telecom CEO, will serve as Altice Europe COO; Operating company CEOs remain unchanged. Continuing to execute on non-core asset disposal program to strengthen the company’s long-term balance sheet position: French and Portuguese towers – sale of c.10k French sites and c.3k Portuguese sites; Dominican Republic – strong position in an attractive market; Closing for towers and Dominican Republic transactions targeted in H2 2018. Announced separation of Altice USA Inc. (“Altice USA”) from Altice N.V. expected to be effective early June. Patrick Drahi, founder of Altice N.V., said: “In the first quarter of 2018, Altice Europe has started to deliver on its operational turnaround plan, showing the best subscriber trends Altice has ever reported. Our strategy is paying off, focusing on making our customer experience better through improving processes, infrastructure investments, the best customer premise equipment such as Sofia, and renewed commercial offers with content as a key differentiator. I am confident that these first initial significant improvements will be further enhanced in the coming quarters. We want to bring the best operational experience and drive the highest level of customer satisfaction which in turn will allow us to achieve our industrial and financial objectives. Altice Europe has tremendous opportunities. We have a unique asset base, fully converged, with premium infrastructure from networks to CPE and content assets, which is now allowing Altice Europe to firstly win back share across markets and consequently return to growth. In parallel, we have made further progress on the execution of our non-core asset disposal program, which is well advanced and will strengthen our long-term balance sheet position.” Altice N.V. (Euronext: ATC NA and ATCB NA), today announces financial and operating results for the quarter ended March 31, 2018. FY 2018 Guidance (Updated for IFRS 15) Altice N.V. has adopted the IFRS 15 accounting standard, required from January 2018, based on the full retrospective approach. As previously disclosed, Altice N.V. restated revenue and restated Adjusted EBITDA decreased by approximately €120m and €90m, respectively, for the year ended December 31, 2017 under IFRS 15 (restated revenue and restated Adjusted EBITDA in France for FY 2017 decreased by €95m and €78m, respectively). The impact of this accounting change is mainly linked to mobile handsets subsidies adjustments because of the effect of the change in amortization pattern and commission capitalization. For the year ended December 31, 2018, under IFRS 15, Altice Europe is expected to generate Operating Free Cash Flow 5 of between €2.3bn to €2.5bn, excluding the Altice TV segment. The adoption of IFRS 15 is expected to reduce FY 2018 Adjusted EBITDA by approximately €50 to €100m compared to the prior accounting standard, mainly in France, and thus prior guidance (OpFCF for Altice Europe of between €2.4bn to €2.6bn) has been updated for this amount, although this change is not expected to impact net cash flow after working capital movements. Altice France is expected to generate operating free cash flow of between €1.5bn to €1.6bn (updated from prior guidance of between €1.6bn to €1.7bn due to this IFRS 15 accounting change). Altice Europe reiterates plans to expand Adjusted EBITDA and cash flow margins over the medium- to long-term. Update on Altice Reorganization Including Altice USA Separation (‘Spin-Off’ or ‘Split’) On January 8, 2018, Altice N.V. announced that its Board of Directors approved plans for the separation of Altice USA from Altice N.V. to be effected by a spin-off of Altice N.V.’s 67.2% interest in Altice USA through a distribution in kind to Altice N.V. shareholders. The separation will enable each business to focus more on the distinct opportunities for value creation in their respective markets and ensure greater transparency for investors. The proposed transaction is designed to create simplified, independent and more focused US and European operations to the benefit of their respective customers, employees, investors and other stakeholders. The separation is to be effected by a spin-off of Altice N.V.’s 67.2% interest in Altice USA through a distribution in kind to Altice N.V. shareholders. Altice N.V. expects to complete the proposed spin-off transaction early June 2018, following Altice N.V. shareholder approval (Altice N.V. AGM vote on May 18, 2018), AFM approval and publication of a prospectus in connection with the distribution. US regulatory approvals have already been obtained. Simultaneously, on January 8, 2018, the Board of Directors of Altice USA approved in principle the payment of a $1.5 billion cash dividend to all shareholders immediately prior to completion of the separation. Thereafter, on May 15, 2018, the Board of Directors of Altice USA declared a one-time cash dividend of $2.035 per share of Altice USA Class A common stock and Class B common stock. The dividend is payable to stockholders of record at the close of business on May 22, 2018. The payment date for the one-time cash dividend Altice USA declared will be two business days prior to the separation date. If the Master Separation Agreement to be entered into by Altice N.V. and Altice USA in connection with the separation of Altice USA from Altice N.V. is terminated on or prior to the payment date of the dividend, the payment of the one-time cash dividend will not occur. In the spirit of enhanced accountability and transparency, Altice N.V. also announced on January 8, 2018, that Altice Europe will reorganize its structure comprising Altice France (including French Overseas Territories), Altice International and a newly formed Altice TV subsidiary. This includes integrating Altice’s support services businesses into their respective markets and bundling Altice Europe’s premium content activities into one separately funded operating unit with its own P&L. This reorganization of Altice Europe is now almost complete as follows: Following the announcement of the spin-off of Altice USA, Altice N.V.’s ownership of Altice Technical Services US was transferred to Altice USA for a nominal consideration (Altice USA now owns 100% of ATS US). In addition, in April 2018 Altice N.V. exercised its call option for the acquisition of 49% in Altice Technical Services Europe for a fixed price of €147 million (to be paid in November 2018). As a result of the exercise of this call option, Altice N.V.’s ownership in Altice Technical Services Europe increased to 100%. The closer integration of these suppliers will allow for further quality of service improvements. Subsequently, Altice Technical Services France and Altice Customer Services have been transferred from Altice International to Altice France in May 2018; The transfer of Altice N.V.’s ownership of i24 US and i24 Europe to Altice USA was completed in April 2018 for a minimal consideration as previously announced (Altice USA now owns 100% of i24 US and 100% of i24 Europe); The transfer of the Altice Content division from Altice International to Altice Europe and creation of Altice TV were completed in May 2018; The transfer of the French Overseas Territories (FOT) business from Altice International to Altice France is expected to complete in Q3 2018; The disposal of Altice Europe’s International wholesale voice business has been signed, with closing expected by year end 2018. Conference call details The company will host a conference call and webcast today, Thursday 17th of May 2018 at 2:00pm CEST (1:00pm BST, 8:00am EDT) to discuss the results. Dial-in Access telephone numbers: Participant Toll Free Dial-In Number: +1 (866) 393-4306 Participant International Dial-In Number: +1 (734) 385-2616 Conference ID 4459709 A live webcast of the presentation will be available on the following website: https://event.on24.com/wcc/r/1670099/5E8F14FE61C4C863EEEE260BC18A7BF8 The presentation for the conference call will be made available prior to the call on Altice N.V.’s investor relations website: http://altice.net/investor-relations About Altice Altice is a convergent global leader in telecoms, content, media, entertainment and advertising. Altice delivers innovative, customer-centric products and solutions that connect and unlock the limitless potential of its over 50 million customers over fiber networks and mobile broadband. The company enables millions of people to live out their passions by providing original content, high-quality and compelling TV shows, and international, national and local news channels. Altice delivers live broadcast premium sports events and enables millions of customers to enjoy the most well-known media and entertainment. Altice innovates with technology in its Altice Labs across the world. Altice links leading brands to audiences through premium advertising solutions. Altice is also a global provider of enterprise digital solutions to millions of business customers. Altice is present in 10 territories from New York to Paris, from Tel Aviv to Lisbon, from Santo Domingo to Geneva, from Amsterdam to Dallas. Altice (ATC & ATCB) is listed on Euronext Amsterdam. For more information, visit www.altice.net Financial Presentation Altice N.V. (Altice N.V., the “Company”, or the “Successor entity”) was created as a result of a cross-border merger with Altice S.A. as per a board resolution dated August 9, 2015. Altice N.V.’s shares started trading on Euronext Amsterdam from August 10, 2015 onwards. Altice N.V. is considered to be the successor entity of Altice S.A. and thus inherits the continuity of Altice S.A.’s consolidated business. Altice N.V. and its subsidiaries have operated for several years and have from time to time made significant equity investments in a number of cable and telecommunication businesses in various jurisdictions. Therefore, in order to facilitate an understanding of the Company’s results of operations, we have presented and discussed the pro-forma consolidated financial information of the Company – giving effect to each such significant acquisition and disposal as if such acquisitions and disposals had occurred by January 1, 2017; as if the planned spin-off of Altice USA had occurred on January 1, 2017, and excluding press titles within the AMG France business sold in April and October 2017, for the quarters ended March 31, 2017 and March 31, 2018 (the “Pro Forma Financial Information”). Financials include the contribution from Teads from Q3 2017 onwards. In addition, financials for Altice Europe exclude Altice N.V.’s international wholesale voice business (exclusivity for sale announced on March 12, 2018) and green.ch AG and Green Datacenter AG in Switzerland (following closing announced on February 12, 2018) for the quarters ended March 31, 2017 and March 31, 2018. This press release contains measures and ratios (the “Non-GAAP Measures”), including Adjusted EBITDA, Capital Expenditure (“Capex”) and Operating Free Cash Flow, that are not required by, or presented in accordance with, IFRS or any other generally accepted accounting standards. We present Non-GAAP measures because we believe that they are of interest to the investors and similar measures are widely used by certain investors, securities analysts and other interested parties as supplemental measures of performance and liquidity. The Non-GAAP measures may not be comparable to similarly titled measures of other companies or, have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our, or any of our subsidiaries’, operating results as reported under IFRS or other generally accepted accounting standards. Non-GAAP measures such as Adjusted EBITDA are not measurements of our, or any of our subsidiaries’, performance or liquidity under IFRS or any other generally accepted accounting principles, including U.S. GAAP. In particular, you should not consider Adjusted EBITDA as an alternative to (a) operating profit or profit for the period (as determined in accordance with IFRS) as a measure of our, or any of our operating entities’, operating performance, (b) cash flows from operating, investing and financing activities as a measure of our, or any of our subsidiaries’, ability to meet its cash needs or (c) any other measures of performance under IFRS or other generally accepted accounting standards. In addition, these measures may also be defined and calculated differently than the corresponding or similar terms under the terms governing our existing debt. Adjusted EBITDA is defined as operating income before depreciation and amortization, non-recurring items (capital gains, non-recurring litigation, restructuring costs) and equity-based compensation expenses. This may not be comparable to similarly titled measures used by other entities. Further, this measure should not be considered as an alternative for operating income as the effects of depreciation, amortization and impairment excluded from this measure do ultimately affect the operating results, which is also presented within the annual consolidated financial statements in accordance with IAS 1 - Presentation of Financial Statements. Capital expenditure (Capex), while measured in accordance with IFRS principles, is not a term that is defined in IFRS nor is it presented separately in the financial statements. However, Altice’s management believe it is an important indicator for the Group as the profile varies greatly between activities: The fixed business has fixed Capex requirements that are mainly discretionary (network, platforms, general), and variable capex requirements related to the connection of new customers and the purchase of Customer Premise Equipment (TV decoder, modem, etc.). Mobile Capex is mainly driven by investment in new mobile sites, upgrade to new mobile technology and licenses to operate; once engaged and operational, there are limited further Capex requirements. Other Capex: Mainly related to costs incurred in acquiring content rights. Operating free cash flow (OpFCF) is defined as Adjusted EBITDA less Capex. This may not be comparable to similarly titled measures used by other entities. Further, this measure should not be considered as an alternative for operating cash flow as presented in the consolidated statement of cash flows in accordance with IAS 1 - Presentation of Financial Statements. It is simply a calculation of the two above mentioned non-GAAP measures. Adjusted EBITDA and similar measures are used by different companies for differing purposes and are often calculated in ways that reflect the circumstances of those companies. You should exercise caution in comparing Adjusted EBITDA as reported by us to Adjusted EBITDA of other companies. Adjusted EBITDA as presented herein differs from the definition of “Consolidated Combined Adjusted EBITDA” for purposes of any of the indebtedness of the Altice Group. The information presented as Adjusted EBITDA is unaudited. In addition, the presentation of these measures is not intended to and does not comply with the reporting requirements of the U.S. Securities and Exchange Commission (the “SEC”) and will not be subject to review by the SEC; compliance with its requirements would require us to make changes to the presentation of this information. Financial and Statistical Information and Comparisons Financial and statistical information is for the quarter ended March 31, 2018, unless otherwise stated, and any year over year comparisons are for the quarter ended March 31, 2017. Regulated Information This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Altice Europe Summary Financials Pro Forma Information (New Perimeter) Altice Europe - Quarter ended March 31, 2018 In EUR millions Altice France Portugal Israel Dominican Republic Teads Others Altice TV Corporate & Other Eliminations Altice Europe Consolidated Fixed - B2C 665.6 155.3 150.2 24.4 - - - - - 995.4 Mobile - B2C 1,055.5 134.9 61.8 86.0 - - - - - 1,338.1 B2B 453.8 145.4 29.6 20.1 - - - - - 648.7 Wholesale 250.5 39.0 - 1.8 - - - - - 291.3 Other 173.5 32.3 - 0.4 67.7 0.2 20.3 0.3 - 294.7 Standalone Revenue 2,598.8 506.7 241.5 132.7 67.7 0.2 20.3 0.3 - 3,568.3 Eliminations -11.2 -11.9 -0.2 -0.3 -0.5 - -15.8 -0.4 - -40.2 Consolidated Revenue 2,587.6 494.9 241.4 132.4 67.3 0.2 4.5 -0.1 - 3,528.1 Adjusted EBITDA 914.5 219.2 107.1 76.1 5.5 -0.1 -56.0 -6.2 -0.4 1,259.7 Margin (%) 35.2% 43.3% 44.4% 57.3% 8.1% nm nm nm nm 35.7% Capex 568.8 104.7 58.1 27.6 - - 3.8 - -2.3 760.7 Adjusted EBITDA - Capex 345.8 114.5 49.1 48.5 5.5 -0.1 -59.8 -6.2 1.9 499.1 Altice Europe - Quarter ended March 31, 2017 In EUR millions Altice France Portugal Israel Dominican Republic Teads Others Altice TV Corporate & Other Eliminations Altice Europe Consolidated Fixed - B2C 696.6 176.2 170.0 28.7 - - - - - 1,071.5 Mobile - B2C 1,026.8 140.5 55.9 107.6 - - - - - 1,330.8 B2B 492.5 151.9 35.3 23.9 - - - - - 703.6 Wholesale 256.7 41.3 - 4.2 - - - - - 302.2 Other 154.8 32.2 - -0.7 - 0.8 6.0 -0.4 - 192.7 Standalone Revenue 2,627.3 542.1 261.3 163.7 - 0.8 6.0 -0.3 - 3,600.9 Eliminations -12.3 -6.9 -0.3 -1.0 - - -6.3 -3.0 - -30.2 Consolidated Revenue 2,610.3 532.9 261.0 162.6 - 0.8 -0.3 -3.3 - 3,570.8 Adjusted EBITDA 908.1 256.6 118.7 97.7 - 0.2 -46.1 -45.1 -1.2 1,288.9 Margin (%) 34.6% 47.3% 45.4% 59.7% nm nm nm nm nm 36.1% Capex 486.2 107.5 62.3 23.1 - - 2.9 3.4 1.3 686.6 Adjusted EBITDA - Capex 421.9 149.1 56.5 74.6 - 0.2 -49.0 -48.5 -2.5 602.3 Notes to Summary Financials (1) Financials shown in these tables are pro forma defined as results of the Altice N.V. Group New Perimeter ("Altice Europe") as if the planned spin-off of Altice USA had occurred on 1/1/17 and excluding the press titles within the AMG France business ("France - Media" segment) as if the disposals occurred on 1/1/17. Segments are shown on a pro forma standalone reporting basis, Group figures are shown on a pro forma consolidated basis. Financials include the contribution from Teads from Q3 2017 onwards. In addition, financials for Altice Europe exclude Altice N.V.’s international wholesale voice business (exclusivity for sale announced on March 12, 2018) and green.ch AG and Green Datacenter AG in Switzerland (following closing announced on February 12, 2018). (2) “Other” segment within Altice International includes datacentre operations in France (Auberimmo). (3) Adjusted EBITDA is defined as operating income before depreciation and amortization, non-recurring items (capital gains, non- recurring litigation, restructuring costs) and other adjustment (equity-based compensation expenses). (4) Capex shown on an accrued basis. Altice Europe KPIs Q1-18 [3 months] As and for the quarter ended March 31, 2018 Dominican France FOT Portugal Israel Republic Total Homes passed 24,599 178 5,066 2,525 788 28,089 Fiber / cable homes passed 11,239 172 4,168 2,525 750 18,853 FIXED B2C Fiber / cable unique customers 2,327 59 669 1,002 200 4,257 Net adds 96 0 49 1 -4 143 Total fixed B2C unique customers 6,014 83 1,559 1,002 322 8,979 Net adds 71 0 4 1 -1 75 Fixed ARPU (€/month) € 34.7 € 45.6 € 32.7 € 51.6 € 25.2 - MOBILE B2C Postpaid subscribers 12,774 198 2,851 1,159 530 17,513 Net adds 239 7 34 7 -5 282 Prepaid subscribers 1,666 54 3,504 150 2,688 8,062 Total mobile B2C subscribers 14,440 252 6,356 1,309 3,219 25,575 Mobile Postpaid ARPU (€/month) € 24.1 € 35.2 € 9.5 € 12.4 € 20.8 - Q1-17 [3 months] As and for the quarter ended March 31, 2017 Dominican France FOT Portugal Israel Republic Total Homes passed 25,744 178 4,997 2,465 758 34,143 Fiber / cable homes passed 9,634 172 3,403 2,465 659 16,332 FIXED B2C Fiber / cable unique customers 2,083 59 509 1,014 208 3,873 Net adds 45 0 31 -3 4 76 Total fixed B2C unique customers 6,079 85 1,571 1,014 319 9,068 Net adds -35 -3 -28 -3 -1 -70 Fixed ARPU (€/month) € 35.9 € 46.0 € 34.6 € 58.5 € 30.0 - MOBILE B2C Postpaid subscribers 12,405 170 2,708 1,104 557 16,943 Net adds 68 8 -15 22 -8 76 Prepaid subscribers 2,108 59 3,455 116 2,910 8,647 Total mobile B2C subscribers 14,514 228 6,162 1,220 3,466 25,590 Mobile Postpaid ARPU (€/month) € 25.5 € 36.7 € 10.0 € 12.7 € 22.7 - Notes to KPIs tables (1) Total homes passed in France includes unbundled DSL homes outside of SFR’s fiber / cable (FTTH / FTTB) footprint. Portugal total homes passed includes DSL homes enabled for IPTV outside of MEO’s fiber footprint and fiber homes passed figures include homes where MEO has access through wholesale fiber operators (c.0.3m in Q1-18). In Israel, the total number of homes passed is equal to the total number of Israeli homes. (2) Fiber / cable unique customers represents the number of individual end users who have subscribed for one or more of our fiber / cable based services (including pay television, broadband or telephony), without regard to how many services to which the end user subscribed. It is calculated on a unique premises basis. Fiber / cable customers for France excludes white-label wholesale subscribers. For Israel, it refers to the total number of unique customer relationships, including both B2C and B2B. (3) ARPU is an average monthly measure that we use to evaluate how effectively we are realizing revenue from subscribers. ARPU is calculated by dividing the revenue for the service provided after certain deductions for non-customer related revenue (such as hosting fees paid by channels) for the respective period by the average number of customer relationships for that period and further by the number of months in the period. The average number of customer relationships is calculated as the number of customer relationships on the first day in the respective period plus the number of customer relationships on the last day of the respective period, divided by two. For Israel and Dominican Republic, ARPU has been calculated by using the following exchange rates: average rate for Q1-18 €1.00 = ILS 4.2537, €1.00 = 60.1939 DOP. (4) Mobile subscribers is equal to the net number of lines or SIM cards that have been activated on our mobile networks. In Israel, the split between iDEN and UMTS (B2C only, including prepaid) services as follows: 7k iDEN and 1,302k UMTS as of March 31, 2018, and 9k iDEN and 1,210k UMTS as of March 31, 2017. Altice Europe 6 Financial and Operational Review by Segment – Pro Forma For quarter ended March 31, 2018 compared to quarter ended March 31, 2017 France (Altice France including SFR) Q1 2018 operational results in France were the best since Altice took control: continued infrastructure and customer premise equipment investments, new commercial offers and improving customer service all contributed to lower churn and higher customer gross additions. Process improvements implemented since management changed at the end of 2017 are already demonstrating results at SFR, and this is just the beginning. SFR is now observing consistent improvements in customer service metrics which is being reflected by improvements in a series of customer satisfaction indicators. For example, SFR has made significant progress in customer installation processes, improving the installation completion rate and driving higher gross additions. The average days to install a fiber (FTTH) customer was down more than 30% YoY, while the installation rate was up +20% YoY, resulting from operational processes changes implemented since Q4 2017. On the fiber network side, incidents are being detected automatically and fixed more quickly, driving lower repeat calls to call centers and a significantly reduced number of calls related to technical service. As a result, fibre churn fell by more than 25% reaching a level comparable to some peers but still far from management’s target level. Further significant improvements will be seen in the following quarters. SFR continued to invest in its infrastructure (network, IT and CPE) to further improve its customer satisfaction. On the fixed side, SFR remains the number one high-speed broadband infrastructure in France 7 now reaching more than 11 million homes passed 8 with +288k additional homes passed in Q1 2018 (including +224k new FTTH homes passed). On the mobile side, SFR continues to be the leader in terms of 4G mobile antennas in service in France (28,929 antennas) and covers 96% of the population with 4G at the end of the first quarter. In parallel, SFR is already preparing the arrival of the next generation of mobile telephony with 5G technology. After the first tests carried out in 2016 and 2017, SFR with one of its partners, Nokia, were the first in France to make a 5G New Radio connection using the 3.5 GHz frequency band. In March 2018, SFR redesigned its offers, stripping out premium content, and making the telecom offers more simple and comparable to competitors. These offers are now built around two separate blocks: one centred around telecoms and one centred around premium content (Sport, Cinema/Series, etc.); these are offered as pay options, at a rate still preferential for SFR customers, for fixed and mobile offers. Altice France also announced the launch of a single brand this summer for all of its sports content: RMC Sport, set to replace SFR Sport with the Champion’s League launch this summer. This strategy is starting to pay off as there is a significant uplift on gross adds ARPU for customers taking content options and this trend is anticipated to strengthen as further key content is added with the Champion’s League from Q3 2018. This solid operational turnaround and customer growth are expected to lead in the coming quarters to an inflection in revenue growth. The following subscriber KPIs are based on the old reporting perimeter for SFR Group for comparability to previously reported figures in 2017 and 2016 (i.e. excluding FOT): Total Altice France revenue declined -1.1% YoY in Q1 2018 to €2,599m. The total fixed B2C customer base in France grew for the first time since Altice took control with +71k unique customer net additions in Q1 2018 (vs. -35k losses in Q1 2017), including the best fiber performance and lowest level of DSL losses: Fiber net additions reached +96k in Q1 2018 (vs. +45k in Q1 2017) and DSL net losses were -25k in Q1 2018 (vs. -79k in Q1 2017); Fixed B2C ARPU declined -3.0% YoY ex-VAT benefit 9 , or -3.6% YoY on reported basis to €34.7 in Q1 2018 (vs. €35.9 in Q1 2017), partly impacted by more intense market competition following SFR’s successful churn reduction and more proactive retention activity. SFR’s new bundle offers with premium options were made available towards the end of the first quarter which is expected to partly offset the negative impact on ARPU from the VAT law change implemented from March 2018; Fixed B2C revenues declined -3.9% YoY ex-VAT benefit, or -4.5% YoY on a reported basis in Q1 2018, impacted by prior customer losses and the decline in ARPU. Mobile B2C postpaid customer growth in France in Q1 2018 was the highest since Altice bought SFR: The mobile B2C postpaid customer base increased by +239k net additions in Q1 2018 (vs. +68k in Q1 2017); B2C mobile postpaid ARPU declined -4.8% YoY ex-VAT benefit, or -5.3% YoY on a reported basis to €24.1 (vs. €25.5 in Q1 2017) due to increased customer retention and share of RED-branded customers within the mix of gross additions; Mobile B2C service revenue grew +1.6% YoY ex-VAT benefit, or +0.9% YoY on a reported basis, supported by better mobile postpaid customer trends; total mobile B2C revenue grew +3.4% YoY ex-VAT benefit or +2.8% YoY on a reported basis. B2B revenue declined -7.9% YoY in Q1 2018, impacted by backbook price reductions implemented in Q2 2017. Following a change to the B2B management team in H2 2017 and adoption of a new pricing and customer retention strategy, the underlying order book has improved, leading to an improvement in trend sequentially already. Wholesale revenues were down -2.4% YoY in Q1 2018, excluding the international wholesale voice business (exclusivity for sale announced on March 12, 2018). Other 10 revenue grew +12.1% YoY in Q1 2018, supported by continued strong growth at NextRadioTV. Total Altice France’s Adjusted EBITDA grew by +0.7% in Q1 2018 YoY to €915m with margins expanding by +0.6% pts YoY to 35.2% reflecting cost savings being realised from the voluntary plan. Total Altice France capex amounted to €569m in Q1 2018, an increase of €83m YoY reflecting continued network investments and significantly improved commercial trends. Separately, on February 9, 2018, the “SFR Group”, which includes the telecoms operations of SFR and group media businesses (press titles, stake in NextRadioTV), was renamed “Altice France”. Portugal (MEO) MEO continues to see the benefits of its accelerated investment to expand its fiber coverage with the second consecutive quarter of growth for its fixed customer base, and a strong performance in the pay-TV segment. MEO has now reached 4.2 million fiber homes passed, on track for its target for nationwide coverage of 5.3 million homes. As MEO continues to invest in its mobile network – now reaching over 97% 4G mobile population coverage and 65% 4G+ mobile population coverage – the mobile postpaid customer base continues to grow. This quarter, MEO pursued further initiatives as part of its digital transformation and to promote sustainability: “My MEO” provides a new self-care user experience which is more mobile centric with a new design and user-friendly interface. This new multi-platform tool will allow customers to manage their accounts and find relevant information about their products & services, anytime and anywhere, in a simple and easy way; “Video Chat” is an integrated solution that recreates a real store experience which is 100% online, allowing customer service teams to engage in real time with customers in their homes; All the commercial post-paid offers began to include free electronic invoices. These new products and services demonstrate once again MEO’s leadership when it comes to innovation and improving customer experience. MEO’s successful infrastructure investment, new commercial strategy and improving quality of its customer service all contributed to better operational results with historically low churn and higher customer gross additions. This solid customer growth is expected to lead in the coming quarters to consistent market share growth and an inflection in revenue growth. Total Altice Portugal revenue declined -4.5% YoY in Q1 2018 ex one-off 11 or -6.5% YoY on a reported basis to €507m, mainly impacted by prior fixed B2C customer losses and repricing in the B2B segment: MEO added a record number of fiber customers this quarter again, supported by the expansion of its fiber footprint: net additions in Q1 2018 of +49k (vs. +31k in Q1 2017); The acceleration in fiber growth supported total fixed net additions, positive for the second quarter in a row in Q1 2018 (+4k). DSL/DTH trends also improved YoY with customer losses of -45k in Q1 2018 (vs. -59k in Q1 2017). This better commercial performance was driven by higher gross additions and further churn improvements (reaching again this quarter record low levels, especially for the fiber customer base); B2C fixed revenues declined in Q4 -7.7% YoY ex one-off 11 or -11.9% YoY on a reported basis in Q1 2018, driven by prior fixed customer losses of -0.8% YoY and a decline in total fixed B2C ARPU of -5.5% YoY. ARPU pressure reflects the regulatory decision in Q3 2017 to open up MEO’s customer base for disconnections which required more retention activity, as well as the absence of an across the board price increase in 2018, leading to a more challenging YoY comparison; The postpaid B2C mobile subscriber trends improved again YoY in Q1 2018 with net additions of +34k (vs. -15k losses in Q1 2017), supported by MEO’s network investment and successful convergent strategy. Prepaid B2C mobile net losses were -154k in Q1 2018 (vs. +8k in Q1 2017), including the impact of greater prepaid to postpaid migrations; Mobile postpaid ARPU declined -5.1% YoY in Q1 2018 due to increased promotional offers to migrate prepaid to postpaid customers and retention activity following the disruption from the Q3 2017 regulatory decision on customer disconnections, contributing to the decline in B2C mobile revenues of -4.0% YoY; B2B revenues declined -2.0% YoY 11 or -4.3% YoY on a reported basis, due to the continued repricing of our legacy services facing intense competition; Wholesale revenue declined -5.7% YoY in Q1, mainly due to other Portuguese operators continuing to replace copper access lines and circuits leased from MEO by their own infrastructure; Other revenue was in line with the prior year (+0.3% YoY). Total Altice Portugal Adjusted EBITDA declined by -10.6% ex one-off 11 , or -14.6% YoY on a reported basis to €219m with margins reducing by -1.9% pts ex one-off 11 YoY to 43.3% (or -4.1% pts on a reported basis) reflecting the loss of higher margin revenue in both the B2C and B2B segments. Total Altice Portugal capex of €105m in Q1 2018, in line with the level of last year (€108m in Q1 2017) reflecting continued network investments. MEO gained market share for the second quarter in a row which is expected to contribute to revenue growth in the coming quarters. Israel (HOT) Total revenue in Israel declined -0.9% YoY in Q1 2018 on a CC basis, or -7.5% on a reported basis to €242m with continued strong mobile growth offset by declines in the fixed line business due to intensified competition in fixed and further in mobile: The cable customer base grew for the first time since Altice took control with +1k net additions in Q1, despite a very high level of promotions in the market. Fixed line ARPU declined -5.6% YoY in Q1 in local currency, mainly driven by greater competition in the TV market. Overall fixed revenues declined -4.1% YoY in Q1 in local currency. HOT remains a premium brand in the market, supported by its superior fixed network infrastructure, premium content packages, and superior customer service; The B2C mobile postpaid customer base continues to grow with net additions of +7k in Q1 and B2C mobile postpaid ARPU growing +4.5% YoY in local currency, reflecting HOT’s focus on high-value customers. Mobile revenues grew +7.8% YoY in Q1 in local currency. Total Adjusted EBITDA in Israel declined by -3.3% in Q1 2018 YoY in local currency, or -9.8% on a reported basis YoY to €107m with margins reducing by -1.1% pts YoY to 44.4%. Dominican Republic (Altice Dominicana) Total revenue in Dominican Republic declined -2.4% YoY in Q1 on a CC basis, or -18.9% YoY on a reported basis to €133m with continued fixed growth being offset by declines in the prepaid mobile business: The total fixed B2C customer base was stable in Q1 (-1k net additions) with a slight decline in the fiber customer base (-4k) being partially offset by growth of the DTH customer base. Total fixed B2C ARPU increased +1.4% YoY in Q1 in local currency; Total B2C mobile subscriber trends improved YoY, decreasing by -34k net losses in Q1 (vs. -44k in Q1 2017) with net mobile postpaid losses of -5k (vs. -8k in Q1 2017), mobile postpaid ARPU grew +10.5% YoY in Q1 in local currency. Subscribers trends have been impacted in recent quarters by continuous prepaid voice erosion and increased price competition for mobile data services. New offers focused on data and value were made available this quarter, which is expected to partially offset that impact going forward. Total Adjusted EBITDA in Dominican Republic declined by -6.2% in Q1 2018 YoY in local currency, or -22.1% on a reported basis YoY to €76m with margins reducing by -2.3% pts YoY to 57.3%. Shares outstanding As at March 31, 2018, Altice N.V. had 1,492,756,175 common shares A (including 531,025,305 treasury shares) and 228,272,075 common shares B outstanding. On January 30, 2018, Altice announced its intention to cancel 370,000,000 common A shares. The cancellation of such shares will become effective in accordance with the provisions of Dutch law. Altice Europe Consolidated Net Debt as of March 31, 2018, breakdown by credit silo 12 Altice Europe has a robust, diversified and long-term capital structure: Group weighted average debt maturity of 6.1 years; Group weighted average cost of debt of 5.5%; 84% fixed interest rate; No major maturities at SFR until 2022, and none at Altice International until 2023; Available liquidity of €3.0bn 13 . Total consolidated Altice Europe net debt was €32.2bn at the end of Q1 2018. Altice Luxembourg (HoldCo) Amount (local currency) Actual Coupon / Margin Maturity Senior Notes EUR 2,075 2,075 7.250% 2022 Senior Notes USD 2,900 2,353 7.750% 2022 Senior Notes EUR 750 750 6.250% 2025 Senior Notes USD 1,480 1,201 7.625% 2025 Swap Adjustment - -147 - - Altice Luxembourg Gross Debt 6,231 Total Cash -74 Altice Luxembourg Net Debt 6,157 Undrawn RCF 200 WACD (%) 7.0% Altice France (SFR) Amount (local currency) Actual PF Coupon / Margin Maturity Senior Secured Notes USD 4,000 3,245 3,245 6.000% 2022 Senior Secured Notes EUR 1,000 1,000 1,000 5.375% 2022 Senior Secured Notes USD 1,375 1,115 1,115 6.250% 2024 Senior Secured Notes EUR 1,250 1,250 1,250 5.625% 2024 Senior Secured Notes USD 5,190 4,210 4,210 7.375% 2026 Term Loan EUR 1,136 1,136 1,136 E+3.00% 2025 Term Loan USD 1,409 1,143 1,143 L+2.75% 2025 Term Loan USD 2,145 1,740 1,740 L+300% 2026 Term Loan EUR 998 998 998 E+3.00% 2026 Drawn RCF - 330 630 E+3.25% 2021 Other debt & leases - 132 150 - - Swap adjustment - -256 -253 - - Altice France Gross Debt 16,044 16,362 Total Cash -354 -407 Altice France Net Debt 15,690 15,954 Undrawn RCF 795 495 WACD (%) 4.7% Altice International Amount (local currency) Actual PF Coupon / Margin Maturity HOT Unsecured Notes ILS 814 189 189 3.90 - 6.90% 2018 Senior Secured Notes EUR 500 500 500 5.250% 2023 Senior Secured Notes USD 2,060 1,671 1,671 6.625% 2023 Senior Secured Notes USD 2,750 2,231 2,231 7.500% 2026 Term Loan USD 903 733 733 L+2.750% 2025 Term Loan USD 898 728 728 L+3.75% 2026 Term Loan EUR 299 299 299 E+2.75% 2026 Drawn RCF - 280 - E+3.50% 2021 Other debt & leases - 84 66 - - Swap Adjustment - 372 372 - - Altice International Senior Debt 7,088 6,789 Senior Notes EUR 250 250 250 9.000% 2023 Senior Notes USD 400 324 324 8.125% 2024 Senior Notes USD 385 312 312 7.625% 2025 Senior Unsecured Notes EUR 675 675 675 4.750% 2028 Swap Adjustment - 28 28 - - Altice International Total Debt 8,677 8,379 Total Cash -377 -340 Altice International Net Total Debt 8,300 8,040 Undrawn RCF 631 911 WACD (%) 5.6% Total Altice Luxembourg Consolidated Debt 30,952 30,972 Total Cash -805 -821 Total Altice Luxembourg Consolidated Net Debt 30,147 30,151 WACD (%) 5.4% ACF Amount (local currency) Actual PF Coupon / Margin Maturity Corporate Facility EUR 240 240 240 E+6.843% 2020 Corporate Facility EUR 2,113 2,113 1,488 E+6.843% 2021 ANV/ACF Gross Debt 2,353 1,728 Total Cash -132 -132 ANV/ACF Net Debt 2,221 1,596 WACD (%) 6.8% Altice Europe Pro Forma Net Leverage Reconciliation as of March 31, 2018 €m Altice Europe Reconciliation to Swap Adjusted Debt Actual PF Total Debenture and Loans from Financial Institutions 32,781 32,781 Value of Debenture and Loans from Financial Institutions in Foreign Currency converted at closing FX Rate -26,585 -26,585 Value of Debenture and Loans from Financial Institutions in Foreign Currency converted at hedged Rate 26,582 26,582 Transaction Costs 339 339 Fair Value Adjustments -4 -4 Total Swap Adjusted Value of Debenture and Loans from Financial Institutions 33,113 33,113 Overdraft 17 17 Other 174 174 PF New Organization - -605 Gross Debt Consolidated 33,305 32,700 Altice Europe (Actual) Altice Luxembourg Consolidated Altice Corporate Financing Altice TV ANV Altice N.V. Post-split TopCo Gross Debt Consolidated 30,952 2,353 - - 33,305 Cash -805 -132 - -156 -1,093 Net Debt Consolidated 30,147 2,221 - -156 32,212 Altice Europe (Pro Forma) Altice Luxembourg Consolidated Altice Corporate Financing Altice TV ANV Altice N.V. Post-split TopCo Gross Debt Consolidated 30,972 1,728 - - 32,700 Cash -821 -132 -279 -156 -1,388 Net Debt Consolidated 30,151 1,596 -279 -156 31,312 €m Altice Corporate Financing ANV Altice N.V. Post-split TopCo Altice Europe (Pro Forma) Altice France Altice International Altice Luxembourg Eliminations Altice Luxembourg Consolidated Altice TV Gross Debt Consolidated 16,362 8,379 6,231 - 30,972 1,728 - - 32,700 Cash -407 -340 -74 - -821 -132 -279 -156 -1,388 Net Debt Consolidated 15,954 8,040 6,157 - 30,151 1,596 -279 -156 31,312 LTM Standalone 4,167 1,794 - - 5,961 - -232 -64 5,665 Eliminations - -0 - -11 -0 - - 11 - Corporate Costs - -26 -5 - -42 - - 31 - LTM EBITDA Consolidated 4,167 1,768 -5 -11 5,919 - -232 -22 5,665 Gross Leverage 3.9x 4.7x 0.0x 0.0x 5.2x 0.0x 0.0x 0.0x 5.8x Net Leverage 3.8x 4.5x 0.0x 0.0x 5.1x 0.0x 0.0x 0.0x 5.5x Altice N.V. Non-GAAP Reconciliation to GAAP measures as of March 31, 2018 year to date 14 For the three months ended In million Euros March 31, 2018 Revenues 3,599.1 Purchasing and subcontracting costs -1,116.6 Other operating expenses -862.9 Staff costs and employee benefits -367.3 Total 1,252.2 Stock option expense 7.9 Adjusted EBITDA 1,260.1 Depreciation, amortisation and impairment -1,005.2 Stock option expense -7.9 Other expenses and income -106.1 Operating profit 141.0 Capital expenditure (accrued) 760.7 Capital expenditure - working capital items 60.9 Payments to acquire tangible and intangible assets 821.6 Operating free cash flow (OpFCF) 499.4 FORWARD-LOOKING STATEMENTS Certain statements in this press release constitute forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this press release, including, without limitation, those regarding our intentions, beliefs or current expectations concerning, among other things: our future financial conditions and performance, results of operations and liquidity; our strategy, plans, objectives, prospects, growth, goals and targets; and future developments in the markets in which we participate or are seeking to participate. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believe”, “could”, “estimate”, “expect”, “forecast”, “intend”, “may”, “plan”, “project” or “will” or, in each case, their negative, or other variations or comparable terminology. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will be achieved or accomplished. To the extent that statements in this press release are not recitations of historical fact, such statements constitute forward-looking statements, which, by definition, involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements including risks referred to in our annual and quarterly reports.

http://www.cnbc.com/2018/05/17/business-wire-altice-n-v-altice-europe-first-quarter-2018-pro-formaa-results.html

China says summit with Japan, S.Korea to focus on cooperation, not N.Korea

* China’s premier Li going to summit with Japan, South Korea * China, Japan have been trying to get relations back on track * Senior Chinese diplomat says N.Korea not high on agenda By Ben Blanchard BEIJING, May 4 (Reuters) - No areas will be off limits in talks next week when Chinese Premier Li Keqiang visits Japan, but North Korea is not going to be a focus, a senior Chinese diplomat said on Friday. China and Japan, Asia’s two largest economies, have been trying to reset ties after years of increasingly bitter dispute over a group of uninhabited islets in the East China Sea and the legacy of Japan’s invasion of China before and during World War Two. Japan will host a summit with Li and South Korea’s President Moon Jae-in in Tokyo on May 9 to discuss regional issues, where North Korea had been expected to be high on the agenda. The meeting, which has been hosted in turn by each of the three nations since the first held in Japan in 2008, aims to strengthen dialogue and cooperation. Chinese Vice Foreign Minister Kong Xuanyou said Li’s trip to Japan, the first by a Chinese premier in eight years, represented a “rare development opportunity”, though he admitted challenges remain. “There will be no off-limits areas,” Kong told reporters, referring to the talks between Li and Abe. “As long as there are subjects both are interested in, they can be put on the table for candid discussion. (We) hope to increase understanding through discussion, which is helpful to narrowing differences on certain problems.” While North Korea and other regional issues would come up and would be discussed with both Japan and South Korea so that the three sides could better coordinate policy, the isolated country was not a focus. “I personally think this China-Japan-South Korea meeting is not to mostly discuss the situation on the Korean peninsula. It’s mainly to discuss regional cooperation between the three,” said Kong, who is also China’s special envoy for the North Korean nuclear issue. “So I think it will be hard for the three of them to have sufficient time to have deep talks on this issue.” Bracketing the summit, Li will make a state visit to Japan from May 8 to 11, when he will meet Emperor Akihito, Japan has said. At Moon’s summit last month with North Korean leader Kim Jong Un, both sides agreed to work towards denuclearisation of the Korean peninsula. Kim is also due to meet U.S. President Donald Trump in coming weeks. Li will travel to Indonesia before going to Japan. Indonesia is seeking ways to speed up a $5-billion high-speed rail project being built by a consortium of local and Chinese state firms which faces obstacles over land ownership issues. (Reporting by Ben Blanchard Editing by Clarence Fernandez)

https://www.reuters.com/article/china-japan/china-says-summit-with-japan-s-korea-to-focus-on-cooperation-not-n-korea-idUSL3N1SA1S9

Daily Briefing: Trump steel tariffs - a final reprieve

May 1, 2018 / 7:33 AM / Updated 4 hours ago Daily Briefing: Trump steel tariffs - a final reprieve Mark John , Mike Dolan 7 Min Read LONDON (Reuters) - Hours before the deadline for a decision, U.S. President Donald Trump overnight extended exemptions from new tariffs on steel and aluminium imports from a number of allies, including in Europe. U.S. President Donald Trump gestures while addressing a joint news conference with Nigeria's President Muhammadu Buhari in the Rose Garden of the White House, April 30, 2018 However he gave to understand that this latest delay would be the final one, meaning the levies will kick in from June unless there is a deal in the meantime. In a first reaction, the European Commission has complained that Trump is creating uncertaint y that is hitting business decisions; it continues to demand permanent exemptions on the grounds that overcapacity in steel and aluminium is not from Europe. Given the likelihood of reprieves for Australia, Argentina and Brazil and movement in the NAFTA talks , the EU could be the only one of the U.S. allies that seriously risks losing its exemption. Will today herald a new start for Armenia after street protesters cut short an attempt by the former leader to cling onto power beyond his time? Opposition leader Nikol Pashinyan, who played a starring role in the protests, is the sole candidate for interim prime minister in parliamentary elections today. Pashinyan has received the support of all opposition parties in parliament, who hold 47 seats in the 105-seat legislature, but he will require a majority to win. He promises his main task as caretaker premier would be to organise new free and fair parliamentary elections for the post of prime minister. With much of Europe closed for the May Day public holiday, the main economic numbers in the region today come from the UK. Britain's factories have so far had a weak start to 2018. A poor reading in the April purchasing managers index at 0830 GMT would further reduce the change of a Bank of England rate hike move on May 10, now put at barely 25 percent. Separately, the BoE figures on mortgage approvals, consumer credit growth and business lending are expected to show a slowdown in lending in March, mirroring the weak start to the year for the economy overall. MARKETS May Day holidays in many centres across Asia and Europe are set to keep global markets trading under wraps for most of the day, with an upbeat mood at the margins despite Wall St’s retreat on Monday as U.S. President Trump extended the steel and aluminium tariffs exemption for the European Union, Canada and Mexico for another month. Supporters of Armenian opposition leader Nikol Pashinyan attend a rally as they wait for the results of the parliament's election of an interim prime minister in central Yerevan, Armenia May 1, 2018 “ Apple is like an A student with a bad report card. We’re not going to throw them out of the house just yet, but we want to see that number pick back up” Trip Miller, managing partner at Gullane Capital Partners Apple’s quarterly result s after the bell tonight are the other big focus after several weeks of speculation about ebbing smartphone demand based on selective reports from companies in its supply chain. Technology sector results so far – at least from the likes of Amazon, Alphabet, Microsoft, Samsung and SAP – have broadly beaten forecasts for Q1 and the overall aggregate U.S. earnings growth is tracking seven-year highs of almost 25 percent. Much of that seems largely priced, however, and the tax cut driven profit surge is struggling to give overall indices much of an additional lift. The S&P500 closed 0.8 percent lower on Monday, led by big healthcare and pharma companies, with one eye on Apple and another on Wednesday’s Federal Reserve interest rate decision. Although no change in Fed policy rates is expected this week, eyes will be trained on its statement for acknowledgement of an acceleration in the central bank’s favoured inflation gauge close to target in March and for nods about whether as many as three more rate hikes are due over the rest of 2018. U.S. Treasury yields and the dollar were firmer, as were Brent crude prices on anxiety about the fate of the Iran nuclear deal. Jitters about today’s steel tariff deadlines also weighed on Wall St overnight and news of the exemption extensions has already lifted S&P500 futures 0.2 percent. For the same reason, the Canadian dollar was one of the big overnight gainers on currency markets. With the Fed meeting in sight and euro zone April inflation numbers coming in soft, euro/dollar is slipping again and set to test Friday’s low of $1.2053. Most major Asia bourses were closed, but Tokyo’s Nikkei closed 0.2 percent higher and Australia’s benchmark index hit its highest in six weeks as Trump was reported to have reached an agreement in principle on steel and aluminium imports with Australia, Brazil and Argentina alongside the other deadline extensions and the Reserve Bank of Australia left its key interest rates on hold at its latest policy meeting. London is the only major European trading centre opened this morning and futures indicate a slightly positive open for the FTSE100, helped by a BP profits surge . Sterling continued to trade heavy as markets have revised back expectations of a UK interest rate rise this month since the poor first quarter GDP numbers on Friday. Half an eye was kept on Brexit debates in parliament. Britain’s upper house on Monday voted to give parliament powers to block or delay a final deal on departure from the EU, defeating UK PM May’s government . — A look at the day ahead from European Economics and Politics Editor Mark John and EMEA markets editor Mike Dolan. The views expressed are their own. —

https://uk.reuters.com/article/uk-europe-view-tuesday/daily-briefing-trump-steel-tariffs-a-final-reprieve-idUKKBN1I2306

Starbucks COO Rosalind Brewer shares what makes businesses successful

Rosalind Brewer has been climbing the corporate ladder for more than 20 years, holding roles at Kimberly Clark, Walmart and Sam's Club, of which she was CEO. Today, she's the chief operating officer at Starbucks. She's learning a new corporate culture at the coffee giant, one she says suits her well. "This culture matches who I am as an individual — it's amazing to bring my head and heart to work," she says. Brewer is also on one of the most diverse boards in corporate America at Starbucks, and believes diversity is key to corporate success. Different voices at the table, she says, mean richer conversations and faster solutions. She has one piece of advice for women looking to climb the corporate ladder: Stay the course. "Stay steadfast," she says, "the opportunities are great. There are still situations that are quite complicated, but I am so encouraged when I meet young women, how much energy they have and how much they've learned growing up." Don't miss: 3 things to know about Rosalind Brewer, Starbucks' first female and African-American COO Like this story? Like CNBC Make It on Facebook ! show chapters Why 'hepeating' is making a big splash right now 8:30 AM ET Wed, 11 Oct 2017 | 01:00

https://www.cnbc.com/2018/05/09/starbucks-coo-rosalind-brewer-shares-what-makes-businesses-successful.html

China Three Gorges launches $10.8 billion bid for Portuguese power firm EDP

May 11, 2018 / 10:02 PM / Updated 21 minutes ago China Three Gorges launches $10.8 billion bid for Portuguese power firm EDP Andrei Khalip , Sergio Goncalves 3 Min Read LISBON (Reuters) - China’s state-owned utility China Three Gorges on Friday launched a bid to take control of Portugal’s biggest company EDP, offering a premium of just below 5 percent on the power firm’s closing stock price. FILE PHOTO: Banners bearing the logo of Energias de Portugal (EDP) are seen at the company headquarters in Lisbon, Portugal, December 13, 2011. REUTERS/Jose Manuel Ribeiro/FILE PHOTO The total value of the proposed deal is 9.07 billion euros ($10.83 billion), excluding a 23 percent stake already owned by CTG [CYTGP.UL], the Chinese firm and largest EDP ( EDP.LS ) shareholder said in a statement issued late on Friday in Lisbon. Reports that EDP may be an acquisition target of European foreign companies have been circulating for over a year, during which CTG continued to raise its stake, culminating in the 3.26 euros ($3.89) a share offer. CTG said in its preliminary offer announcement that it seeks to reach at least a 50 percent voting stake plus one share in the company. It also offered 7.33 euros a share for EDP’s wind power unit, EDP Renovaveis ( EDPR.LS ), below its closing price of 7.84 euros. EDP had no immediate comment. The online edition of the Expresso newspaper said earlier that EDP was likely to consider the offer hostile. If the deal succeeds, it would be the latest in a series of acquisitions by Chinese companies in Portugal. They have been actively buying assets, from infrastructure to insurance and banking, since Portugal’s 2010-13 debt crisis. EDP is an integrated generator, supplier and distributor of electricity, the largest company by assets in Portugal with businesses in Brazil ( ENBR3.SA ), Spain, and the United States. CTG said it was “fully committed to preserving EDP’s Portuguese identity and autonomy as well as its current Portuguese public listing”. Prime Minister Antonio Costa told reporters earlier that the Portuguese government had no objections to the bid. “The government has nothing against it, no reservations,” Costa said, adding though that the government does not have to be consulted. “The Chinese have been good investors, be it in REN, EDP or in other sectors ... The important thing is that shareholders can ponder on the project. Let the market work.” The proposed offer may test the European Union’s readiness to give control of major infrastructure firms in member states to China, however. It could also run into problems with U.S. authorities since EDP Renovaveis (EDP Renewables) is a major player in its wind energy market. Another Chinese state company, CNIC, holds a nearly 5 percent stake in EDP, while other leading shareholders include U.S. financial services company Capital Group, with 12 percent, and U.S. private equity firm Blackrock. EDP’s market capitalization was nearly 11.4 billion euros as of Friday. It has a net debt of 13.8 billion euros. The company serves almost 10 million power market clients and 1.6 million natural gas customers and runs over 330,000 kilometers (205,000 miles) of power transmission lines. Reporting by Andrei Khalip; Editing by Alison Williams and Rosalba O'Brien

https://uk.reuters.com/article/us-edp-m-a-china/china-three-gorges-launches-10-8-billion-bid-for-portuguese-power-firm-edp-idUKKBN1IC2NC

BRIEF-New Senior Investment Group Reports Q1 Adjusted FFO Per Share Of $0.20

May 10, 2018 / 10:48 AM / Updated 6 minutes ago BRIEF-New Senior Investment Group Reports Q1 Adjusted FFO Per Share Of $0.20 Reuters Staff May 10 (Reuters) - New Senior Investment Group Inc: * Q1 ADJUSTED FFO PER SHARE $0.20 * NEW SENIOR INVESTMENT - QTRLY TOTAL NOI OF $47.1 MILLION * QTRLY AFFO $0.20 PER BASIC AND DILUTED SHARE * NEW SENIOR INVESTMENT - QTRLY NORMALIZED FFO OF $17.6 MILLION, OR $0.21 PER SHARE * QTRLY TOTAL SAME STORE CASH NOI DECREASED 1.0% * CO ENTERED INTO AGREEMENT TO TERMINATE ITS TRIPLE NET LEASES WITH AFFILIATES OF HOLIDAY RETIREMENT * NEW SENIOR INVESTMENT- IN EXCHANGE TERMINATION OF TRIPLE NET LEASES WITH AFFILIATES OF HOLIDAY RETIREMENT, CO WILL RECEIVE $116 MILLION * NEW SENIOR INVESTMENT - EXPECTS TO REFINANCE EXISTING DEBT WITH 1-YEAR $720 MILLION SECURED LOAN BEARING INTEREST AT LIBOR PLUS 4.0% FOR FIRST 6 MONTHS * NEW SENIOR - IN LIGHT OF STRATEGIC REVIEW, QTRLY DIVIDEND MAY BE LESS THAN DIVIDENDS DECLARED IN PRIOR QUARTERS, SUCH DIFFERENCE COULD BE MATERIAL Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-new-senior-investment-group-report/brief-new-senior-investment-group-reports-q1-adjusted-ffo-per-share-of-0-20-idUSASC0A1BX

Dutch minister: MH17 investigation points to Russian involvement

May 25, 2018 / 8:13 AM / Updated 12 minutes ago Dutch minister: MH17 investigation points to Russian involvement Stephanie van den Berg 1 Min Read THE HAGUE (Reuters) - Interim findings released this week by prosecutors investigating the downing of Malaysia Airlines Flight 17 point to Russian involvement, the Dutch foreign minister said on Friday. A damaged missile is displayed during a news conference in Bunnik, Netherlands, by members of the Joint Investigation Team, comprising of authorities from Australia, Belgium, Malaysia, the Netherlands and Ukraine, as they present interim results in the ongoing investigation of the 2014 MH17 crash that killed 298 people over eastern Ukraine. REUTERS/Francois Lenoir The findings “point to direct involvement of Russia,” Stef Blok said on his way into a crisis meeting of the Dutch Cabinet over the matter. His words are the strongest to date by a Dutch politician linking Russia to the incident. MH17 was shot down over rebel-held territory in Eastern Ukraine in 2014, killing all 298 aboard. Russia has denied any involvement. Investigators on Thursday said the missile that shot down the plane was fired from a missile launcher in Russia’s 53rd Anti-Aircraft Brigade, but stopped short of saying who actually fired the fatal shot. Reporting by Toby Sterling, editing by Larry King

https://uk.reuters.com/article/uk-ukraine-crisis-mh17-foreign-minister/dutch-minister-mh17-investigation-points-to-russian-involvement-idUKKCN1IQ0VU

Nissan sees lower annual profit on firmer yen

TOKYO (Reuters) - Nissan Motor and its French automaking partner Renault SA are considering a range of options, including a more balanced equity structure, to ensure their alliance survives beyond its current leadership, the Japanese company said on Monday. The logo of Nissan is seen during the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy/Files Speculation about the alliance’s future, including a possible merger, has been brewing since Reuters reported earlier this year the two companies were discussing plans for a closer tie-up in which Nissan could acquire the bulk of the French state’s 15 percent holding in Renault. The partnership, which also includes Japan’s Mitsubishi Motors Corp, was the world’s top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, the group is looking to strengthen its alliance before chairman Carlos Ghosn retires in the coming years after overseeing the partnership for nearly 20 years. “This could take many different shapes,” Nissan CEO Hiroto Saikawa told reporters at a results briefing, adding a change in equity structure to create a more equal balance between the two companies was one of the options being studied. “We need to ensure that the alliance can operate as it does now, preserving the autonomy of each company while maximising efficiencies, in its future generations.” While all options were on the table, Saikawa said media reports that Nissan and Renault were discussing a “full merger” were “absolutely untrue”. Ghosn has said a merger is a potential option, though not necessarily a goal. Renault holds 43.4 percent of Nissan but agreed to limit formal control of its larger partner in a 2015 shareholder pact that defused a boardroom standoff with the French government. Nissan currently owns a 34 percent controlling stake in Mitsubishi and 15 percent of Renault, but no voting rights. SAGGING U.S. SALES Nissan is forecasting a third straight year of lower operating profit on expectations a stronger yen and higher raw material prices will outweigh a rise in global vehicle sales to a record high. Japan’s second-biggest automaker expects operating profit to fall 6 percent to 540 billion yen ($4.9 billion) in the year to March 2019, based on an assumption the yen will trade around 105 against the U.S. dollar during the year, from around 111 yen in the year just ended. Currency swings will result in a 135 billion yen hit to annual operating profit, pushing earnings to their lowest since the year ended March 2014 and underperforming analyst forecasts. Operating profit fell 22.6 percent to 574.8 billion yen in the year ended March 2018, weighed by costs from a domestic compliance scandal, weakness in North America, a key market, and higher materials costs. Nissan expects a 2.7 percent rise in global sales to 5.93 million vehicles in the current year, its highest ever, as an expected 11.5 percent increase in Chinese sales outweighs a forecast 2.7 percent drop in the United States - which would also see China become Nissan’s biggest market again. Nissan has seen U.S. sales slide 6.5 percent so far in 2018, partly due to sluggish demand for its high-volume Altima sedan, a revamped model of which will be released later this year. Price discounts for the Altima, the popular Rogue crossover SUV and other models were a big factor in the 30.5 percent drop in Nissan’s North American operating profit in the year just ended. The automaker has roughly doubled car sales in the region since 2010, in line with a target to corner around a 10 percent share of the U.S. vehicle market. But achieving that has come at the cost of hefty discounting in the region, and Nissan has said it now plans to focus on improving profitability in North America, while also expanding sales in China, the world’s biggest car market. ($1 = 109.5000 yen) Reporting by Naomi Tajitsu; Editing by Muralikumar Anantharaman and Mark Potter

https://in.reuters.com/article/nissan-results/nissan-sees-lower-annual-profit-on-firmer-yen-idINKCN1IF0SH

North Korea 'declines' South Korea media for nuclear site event; China urges 'stability'

SEOUL (Reuters) - North Korea has declined to accept a list of South Korean journalists hoping to observe the closure of its nuclear test site, South Korea said on Friday, raising new questions about the North’s commitment to reducing tension. A satellite photo of the Punggye-Ri nuclear test site in North Korea April 19, 2018. Planet Labs Inc/Handout via REUTERS North Korea had invited a limited number of journalists from South Korea and other countries to witness what it said will be the closing of its only nuclear weapons test site at Punggye-ri next week. The North Korean offer to scrap the test site has been seen as major concession in months of easing tension between it, on the one hand, and South Korea and the United States on the other. But the remarkable progress appears to have been checked in recent days with North Korea raising doubts about an unprecedented June 12 summit in Singapore between leader Kim Jong Un and U.S. President Donald Trump, and calling off talks with the South. The South Korean Unification Ministry, which handles dealings with the North, said on Friday North Korea had “declined to accept” the list of journalists submitted by the South for the test site dismantling. The ministry did not elaborate but the North Korean decision is likely to raise doubts about its plan for the test site. Trump on Thursday sought to placate North Korea after it threatened to call off the June summit, saying Kim’s security would be guaranteed in any deal and his country would not suffer the fate of Muammar Gaddafi’s Libya, unless that could not be reached. North Korea had said on Wednesday it might not attend the Singapore summit if the United States continued to demand it unilaterally abandon its nuclear arsenal, which it has developed in defiance of U.N. Security Council resolutions to counter perceived U.S. hostility. On Thursday, North Korea’s chief negotiator called South Korea “ignorant and incompetent” and denounced U.S.-South Korean air combat drills and threatened to halt all talks with the South. Trump, in rambling remarks in the White House’s Oval Office, said as far as he knew the summit was still on track, but that the North Korean leader was possibly being influenced by Beijing. But he also stressed that North Korea would have to abandon its nuclear weapons and warned that if no deal was reached, North Korea could be “decimated” like Libya or Iraq. ‘PEACEFUL MEANS’ China, responding to U.S. President Donald Trump suggestion that Beijing may be influencing North Korea’s new hardline stance, said on Friday it stands for stability and peace on the Korean peninsula and for settlement of confrontation over its development of weapons through talks. Chinese foreign ministry spokesman Lu Kang, asked about Trump’s comments, said China’s position had not changed and he reiterated that it supported the goal of denuclearisation on the Korean peninsula. “We are consistently supporting all relevant parties in resolving the peninsula issue through political consultations and peaceful means,” Lu told a regular briefing. Kim has made two visits to China recently for talks with President Xi Jinping, including a secretive train trip to Beijing in late March, his first known visit outside North Korea since coming to power. He flew to the port city of Dalian this month. Both times, Kim’s encounters with Xi were cast by Chinese state media as friendly. They included beachside strolls and Xi saying that previous generations of North Korean and Chinese leaders had visited each other as often as relatives. The warmth between the two leaders marks a sharp reversal in what had been months of frosty ties, as China ratcheted up sanction pressure on North Korea in response to its relentless missiles and nuclear tests last year. China is North Korea’s largest trading partner and considers it an important security buffer against the U.S. military presence in region. What had seemed until this week to be rapidly warming ties between North Korea, on the one hand, and South Korea and the United States on the other, had fueled fears in Beijing that it might be left out of a new deal on the peninsula, according to analysts. Additonal reporting by Micheal Martina, in BEIJING; Writing by Christian Shepherd; Editing by Josh Smith, Robert Birsel

https://in.reuters.com/article/northkorea-missiles/north-korea-declines-south-korea-media-for-nuclear-site-event-china-urges-stability-idINKCN1IJ15B

Trump on Twitter (May 1): Trade Deficit, China, Buhari

The following statements were posted to the verified Twitter accounts of U.S. President Donald Trump, @realDonaldTrump and @POTUS. U.S. President Donald Trump waves at the conclusion of a joint news conference with Nigeria's President Muhammadu Buhari in the Rose Garden of the White House in Washington, U.S., April 30, 2018. REUTERS/Kevin Lamarque The opinions expressed are his own. Reuters has not edited the statements or confirmed their accuracy. @realDonaldTrump : - So disgraceful that the questions concerning the Russian Witch Hunt were “leaked” to the media. No questions on Collusion. Oh, I see...you have a made up, phony crime, Collusion, that never existed, and an investigation begun with illegally leaked classified information. Nice! [0647 EDT] - Delegation heading to China to begin talks on the Massive Trade Deficit that has been created with our Country. Very much like North Korea, this should have been fixed years ago, not now. Same with other countries and NAFTA...but it will all get done. Great Potential for USA! [0700 EDT] - It would seem very hard to obstruct justice for a crime that never happened! Witch Hunt! [0734 EDT] - Yesterday, it was my great honor to welcome President @MBuhari of the Federal Republic of Nigeria to the @WhiteHouse! [1123 EDT] - Today I had the great honor of awarding the Commander-in-Chief’s Trophy, for the first time in 21 years, to the @ArmyWP_Football Black Knights at the @WhiteHouse. Congratulations! [1257 EDT] - Congratulations @ArmyWP_Football! [1414 EDT] - Today, it was my great honor to thank and welcome heroic crew members and passengers of Southwest Airlines Flight 1380 at the @WhiteHouse! [1542 EDT] -- Source link: ( bit.ly/2jBh4LU ) ( bit.ly/2jpEXYR ) Compiled by Bengaluru bureau

https://www.reuters.com/article/us-usa-trump-tweet-factbox/trump-on-twitter-trade-deficit-china-buhari-idUSKBN1I24GU

Torchlight Energy Acquires Additional Delaware Basin Acreage and Announces Drilling in Its Winkler Project

PLANO, Texas, May 07, 2018 (GLOBE NEWSWIRE) -- Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today announced that the Company’s Winkler project in the Delaware Basin has begun with the drilling phase of the first project well, the UL 21 War-Wink 47 #2H. Torchlight’s operating partner, MECO IV has begun the pilot hole on the project and is currently drilling ahead at 3500 feet. The plan is to evaluate the various potential zones for a lateral leg to be drilled once logging is completed. The Company expects the most likely target to be the Wolfcamp A interval. The well is on 320 newly acquired acres offsetting the original leasehold Torchlight entered into in December, 2017. The additional acreage was leased by Torchlight’s operating partner under the Area of Mutual Interest Agreement (AMI) and Torchlight recently exercised its right to participate for its 12.5% in the additional 1080 gross acres. Torchlight’s carried interest in the first well, as outlined in the agreement, was originally planned to be on the first acreage acquired. That carried interest is being applied to this new well and will allow MECO IV to drill and produce potential revenues sooner than originally planned. The primary leasehold is a 320-acre block directly West of the current position and will allow for 5000-foot lateral wells to be drilled. “We are excited to be entering the Delaware basin with our technically strong operating partner MECO IV out of Denver,” stated John Brda, CEO of Torchlight. “The well is in an excellent area with premier offset operators making excellent wells in multiple pay zones. We look forward to MECO executing on the technical and scientific aspects of the project, ultimately delivering a 5000’ lateral in the best pay zone identified.” The Company will provide additional details once drilling results are available. About Torchlight Energy Torchlight Energy Resources, Inc. (NASDAQ:TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com . Forward Looking Statement This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Investor Relations Contact Derek Gradwell MZ Group SVP Natural Resources Phone: 512-270-6990 Email: dgradwell@mzgroup.us Web: www.mzgroup.us Source:Torchlight Energy Resources, Inc.

http://www.cnbc.com/2018/05/07/globe-newswire-torchlight-energy-acquires-additional-delaware-basin-acreage-and-announces-drilling-in-its-winkler-project.html

Golf-Tiger finishes strong but trails by seven at Memorial

May 31, 2018 / 6:36 PM / Updated an hour ago Golf-Tiger finishes strong but trails by seven at Memorial Reuters Staff 3 Min Read May 31 (Reuters) - Five-times winner Tiger Woods overcome a rough start to his opening round at the Memorial Tournament but was still sitting a distant seven shots behind early clubhouse leaders Abraham Ancer and Joaquin Niemann in Dublin, Ohio, on Thursday. Woods, who arrived this week at Muirfield Village Golf Club with increased expectations given his solid weekend at The Players Championship, shot an even-par 72 following a round that included a double-bogey, three bogeys and five birdies. The former world number one, who began on the back nine, bogeyed the par-five 11th following a poor tee shot, made double-bogey at 15 after his drive went out of bounds and followed up with a bogey at 16 after missing a seven-foot putt. But Woods, playing alongside Englishman Justin Rose (71) and defending champion Jason Dufner (75), responded immediately with a birdie at 17 and went three under over his final nine holes to salvage his round. Still, the 14-times major champion was a shadow of the player who less than three weeks ago in his last start showed he might be close to winning again with a vintage 65-69 weekend performance at TPC Sawgrass. The round marked the first time Woods, whose most recent victory at Muirfield came in 2012, competed in the Columbus suburb since 2015 when he carded a career-worst 85 during the third round en route to finishing in 71st place. Mexican Ancer and Chilean Niemann, each seeking their maiden PGA Tour victories, were in a share of the early lead after mixing eight birdies with one bogey for matching seven-under-par 65s. Ancer joined the PGA Tour in 2016 and has two top-10 finishes this season, including a career-best share of eighth place at the Houston Open while Niemann, 19, is the former number one ranked amateur in the world. Rose, fresh off his convincing triumph at Colonial, mixed three bogeys with four birdies while Dufner, who has not won anywhere since earning his fifth PGA Tour win last year at Muirfield, was undone by four-hole stretch on his back nine that included three bogeys. (Reporting by Frank Pingue in Toronto, editing by Ed Osmond)

https://in.reuters.com/article/golf-memorial/golf-tiger-finishes-strong-but-trails-by-seven-at-memorial-idINL5N1T26GA

Quentis Therapeutics Announces the Appointment of Jeanne Magram, Ph.D. as Chief Scientific Officer

NEW YORK--(BUSINESS WIRE)-- Quentis Therapeutics Inc., a biotechnology company pursuing first-in-class endoplasmic reticulum (ER) stress response-targeted therapies to address serious diseases such as cancer, announced today the appointment of Jeanne Magram, Ph.D. as Chief Scientific Officer. New York City-based Quentis launched in February 2017 with the completion of a $48 million Series A financing which was co-led by founding investor Versant Ventures and Polaris Partners and the affiliated LS Polaris Innovation Fund. The company is utilizing the proceeds to advance its lead immuno-oncology program, a small molecule IRE1α inhibitor, into the clinic in 2019, develop a pipeline of preclinical programs, and expand its team with key hires, such as industry veteran Magram. “Jeanne is a welcome addition to Quentis given her experience and accomplishments across multiple therapeutic areas and modalities,” said Michael Aberman, M.D., president and CEO of Quentis Therapeutics. “This hire is an important step toward building a world-class team devoted to better understanding the role of the ER stress response in various diseases in order to discover and develop new medicines to help patients in need. This is also a homecoming for Jeanne as she rejoins the growing New York biotech ecosystem.” Dr. Magram brings over 20 years of drug discovery and development experience to Quentis. Prior to joining Quentis, Dr. Magram was the founding Chief Scientific Officer of Northern Biologics, a Toronto Canada based biotechnology company. Prior to Northern Biologics, she served as the Site Head for Pfizer’s Centers for Therapeutic Innovation (CTI), New York, a model partnership between Pfizer and academic medical centers designed to accelerate the translation of innovative discoveries into differentiated new medicines to treat diseases of pressing unmet medical need. Previously, Dr. Magram was Vice President, Immunology & Inflammation Research at Boehringer Ingelheim, overseeing a department committed to drug discovery to address unmet medical needs in autoimmune disease. In this role, she delivered several candidates into clinical testing. Prior to Boehringer Ingelheim, Dr. Magram was an Associate Director of G Protein-Coupled Receptor (GPCR) Drug Discovery at OSI Pharmaceuticals after OSI’s acquisition of Cadus Pharmaceuticals’ Drug Discovery programs. She also previously spent over five years at Hoffmann-La Roche focused on using model systems to understand the pathophysiology of disease and to identify new therapies. Dr. Magram completed her postdoctoral training in the laboratory of Nobel Laureate J. Michael Bishop, M.D. at the University of California, San Francisco School of Medicine and obtained her Ph.D. in the laboratory of Franklin Costantini, Ph.D. in the Department of Genetics and Development at Columbia University Irving Medical Center. “I am excited to join Michael and the Quentis team, particularly at this time of growth and scale-up for the company,” said Dr. Magram. “With its focus on ER stress response-related drug discovery and development, Quentis is pioneering truly cutting-edge science and biology. I was attracted by the opportunity to join Quentis at this still-early stage of the company and build on its strong scientific foundation while guiding its future scientific direction as we explore applications in immuno-oncology and beyond.” About the Endoplasmic Reticulum Stress Response and Quentis’ Lead Program The endoplasmic reticulum (ER) is a structure within cells responsible for multiple functions, including serving as a sensor of cellular stress. Many diseases, including cancer, can cause persistent ER stress, triggering aberrant responses that disrupt normal cellular functions. Quentis’ lead program is an inhibitor of IRE1α, a central enzyme in the ER stress response signaling pathway that activates the normally dormant XBP1 protein. Persistent IRE1α-XBP1 signaling in innate immune cells in the tumor microenvironment has been shown to disrupt the immune system’s ability to fight cancer in several ways: Disabling dendritic cells’ ability to activate cancer-fighting T cells through inhibition of antigen presentation Driving formation of myeloid-derived suppressor cells (MDSCs), which suppress T cell function Causing macrophages (a type of white blood cell) to promote tumor cell metastases Increasing regulatory T cells that suppress the immune system With anti-cancer immunity blocked, cancer can more easily grow and spread throughout the body. Quentis has developed potent and selective small molecule inhibitors of IRE1α that suppress XBP1 activity in the tumor microenvironment and awaken the immune system’s ability to fight cancer. About Quentis Therapeutics Quentis Therapeutics is a preclinical stage biotechnology company that is pursuing first-in-class endoplasmic reticulum (ER) stress response-targeted therapies to address serious diseases such as cancer. Based on our deep expertise in ER stress biology and the tumor microenvironment, we are pioneering the use of ER stress response modulators to boost the immune system’s ability to fight cancer to help more cancer patients benefit from immunotherapy. Our lead program is a first-in-class, small molecule, IRE1α inhibitor. We are pursuing multiple additional ER stress pathway targets in the tumor micro-environment, as well as in other diseases where ER stress plays an important role. Privately held, Quentis is headquartered in New York City. To learn more, please visit www.quentistx.com and follow us on Twitter at @QuentisTx . View source version on businesswire.com : https://www.businesswire.com/news/home/20180516005406/en/ Quentis Therapeutics Inc. Michael Aberman, MD maberman@quentistx.com Source: Quentis Therapeutics Inc.

http://www.cnbc.com/2018/05/16/business-wire-quentis-therapeutics-announces-the-appointment-of-jeanne-magram-ph-d-as-chief-scientific-officer.html

Trump wrote his own doctor's health letter claim made

President Trump's former doctor who stated his client would be the "healthiest individual ever elected to presidency" has now said the words weren't his. A year before the presidential election in 2016, Harold Bornstein wrote that Trump had "extraordinary" physical strength and stamina, as well as "astonishingly excellent" blood pressure. "He (Trump) dictated that whole letter. I didn't write that letter," said Bornstein in an interview with CNN Tuesday. The doctor added that the claims over Trump's health were not based on his physical examination and were instead agreed with Trump over a phone call. "I just made it up as I went along." The White House has not yet responded to CNBC's request for a response to Bornstein's claims. In an earlier interview with NBC News, Bornstein said he felt "raped, frightened and sad" after Trump's personal bodyguard Keith Schiller visited his New York City surgery in early 2017. The visit by Schiller, the Trump Organization's Chief Legal Officer Alan Garten and another unidentified man happened just two days after Bornstein told The New York Times that he had prescribed the hair-growth medicine Propecia to Trump for many years. The doctor, who had been Trump's physician since 1980, was also quoted as saying that Trump severed contact with him after the Times story. "I couldn't believe anybody was making a big deal out of a drug to grow his hair that seemed to be so important," Bornstein said. The White House denied the visit was in any way, unusual. "As is standard operating procedure for a new president, the White House Medical Unit took possession of the president's medical records," said White House Press Secretary Sarah Huckabee Sanders, Tuesday. Read the full CNN story here .

https://www.cnbc.com/2018/05/02/trump-wrote-his-own-doctors-health-letter-claim-made.html

NRG Energy, Inc. Prices Offering of $500 Million Convertible Senior Notes

PRINCETON, N.J.--(BUSINESS WIRE)-- NRG Energy, Inc. (NYSE:NRG) has priced its offering of $500 million in aggregate principal amount of its 2.75% convertible senior notes due 2048 (the “Notes”). NRG has granted to the initial purchasers a 30-day option to purchase up to an additional $75 million in aggregate principal amount of the Notes. The Notes will be senior unsecured obligations of NRG and will be guaranteed by certain of its subsidiaries. The Notes will be convertible, under certain circumstances, into cash, shares of NRG’s common stock or a combination thereof at NRG’s election. The initial conversion rate will be 20.9479 shares of common stock per $1,000 principal amount of Notes (representing an initial conversion price of approximately $47.74 per share of common stock), subject to customary adjustments. The initial conversion rate represents a premium of approximately 42.50% to the last reported sale price of $33.50 per share of NRG’s common stock on the New York Stock Exchange on May 21, 2018. Interest on the Notes is payable semi-annually in arrears on June 1 and December 1 of each year, commencing on December 1, 2018. The Notes will mature on June 1, 2048, unless earlier repurchased or converted in accordance with their terms. The Notes will be convertible only upon the occurrence of certain events and during certain periods, but will be freely convertible at any time from, and including, December 1, 2024 until the close of business on the second scheduled trading day immediately before June 1, 2025 and at any time from, and including, December 1, 2047 until the close of business on the second scheduled trading day immediately before the maturity date. NRG will have the option to redeem the Notes, in whole or in part, at any time, on or after June 1, 2025, at a cash redemption price equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest. Unless NRG has previously called all outstanding Notes for redemption, holders of the Notes may require NRG to repurchase their Notes on each of September 1, 2025, June 1, 2033 and June 1, 2040, at a cash repurchase price equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid interest. In addition, if certain corporate events that constitute a “fundamental change” occur before the Notes mature, then holders of the Notes may require NRG to repurchase their Notes at a cash repurchase price equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid interest. NRG intends to use cash on hand and the proceeds from the offering, including any proceeds from the exercise of the 30-day option, to repay a portion of its outstanding indebtedness and to pay fees and expenses related to the offering and incurred in connection with its repayment of indebtedness. As a result, the Notes offering is expected to be leverage neutral. In connection with the offering of the Notes, NRG intends to use cash on hand to repurchase shares of its common stock in an aggregate amount to complete NRG’s previously announced $500 million share repurchase program. The transactions are expected to be effected (i) by repurchases from purchasers of the Notes in privately negotiated transactions (the “Private Repurchases”) concurrently with the closing of the Notes offering and (ii) through an accelerated share repurchase transaction (the “ASR”). NRG entered into the ASR with an affiliate of one of the initial purchasers (the “ASR Counterparty”) concurrently with the pricing of the Notes. The ASR is conditioned upon the closing of the Notes offering. In connection with the ASR, NRG has been advised that the ASR Counterparty expects to purchase shares of NRG’s common stock in secondary market transactions, and may execute other transactions in NRG’s common stock, or in derivative transactions relating to NRG’s common stock, beginning on the first trading day immediately following the pricing of the Notes and during the term of the ASR (the “ASR Term”). These activities, including the ASR and the Private Repurchases, may increase, or prevent a decrease, in the market price of NRG’s common stock or the Notes, which could affect the ability of holders to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of Notes, it could affect the amount and value of the consideration that holders will receive upon conversion of the Notes. NRG expects the purchase price per share of the common stock repurchased from certain purchasers of Notes in privately negotiated transactions concurrently with the closing of the offering of the Notes to equal $33.50, which was the closing price per share of NRG’s common stock on the New York Stock Exchange on the date of the pricing of the offering of the Notes. The purchase price per share of the common stock repurchased through the ASR will generally be equal to the average volume-weighted average price of NRG’s common stock during the ASR Term. The exact number of shares repurchased pursuant to the ASR will be determined based on such purchase price. The Notes and related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offer and sale of the Notes, the related guarantees and any shares of common stock potentially issuable upon conversion of the Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and those securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes. About NRG At NRG, we’re redefining power by putting customers at the center of everything we do. We create value by generating electricity and serving nearly 3 million residential and commercial customers through our portfolio of retail electricity brands. A Fortune 500 company, NRG delivers customer-focused solutions for managing electricity, while enhancing energy choice and working towards a sustainable energy future. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. These statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally and whether NRG will consummate the offering, the anticipated terms of the Notes and the anticipated use of proceeds. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the Securities and Exchange Commission. View source version on businesswire.com : https://www.businesswire.com/news/home/20180521006151/en/ For NRG Energy, Inc. Media: Marijke Shugrue, 609-524-5262 or Investors: Kevin L. Cole, CFA, 609-524-4526 or Lindsey Puchyr, 609-524-4527 Source: NRG Energy, Inc.

http://www.cnbc.com/2018/05/21/business-wire-nrg-energy-inc-prices-offering-of-500-million-convertible-senior-notes.html

GLOBAL MARKETS-Italian stocks slide, dollar powers on to new 2018 high

* Italian stocks slide in broader calm for European markets * North Korean talks cancellation rattles Asian markets * Euro hits new 2018 low with dollar close to new 5-month high * Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh By Tommy Wilkes LONDON, May 16 (Reuters) - Italian stocks slid on Wednesday after reports that the two parties seeking to form Italy’s next government might seek debt forgiveness, while the dollar ignored a pull-back in U.S. bond yields and rallied to a new 2018 high. Asian markets had earlier dipped after Pyongyang abruptly called off talks with Seoul, throwing a U.S.-North Korean summit into doubt, but that failed to rattle European stocks. Markets were also unfazed by Italian politics and the bigger focus was a rocketing dollar and rising U.S. borrowing costs, which have spooked investors in recent weeks and intensifed concern about damage to global demand, squeezing emerging markets. The dollar resumed its rally in European trading and reached a high for the year. That gain left the euro below $1.18 , its lowest since Dec. 19. However, with 10-year Treasury yields slipping back below 7-year highs reached earlier this week, most European stock markets traded close to flat. The exception was Italy. Reports suggested the 5-Star and League parties, trying to form a government after inconclusive March 4 elections, had written a draft coalition deal asking for debt forgiveness from the European Central Bank (ECB), frightening investors in the euro zone’s third-largest economy. “The proposal is surreal. Pretending the unilateral cancellation of 250 billion euros of debt bought by the ECB as part of the QE programme... would be absurd,” Anthilia Capital Partners fund manager Giuseppe Sersale said. “Even if unfeasible, the tone of the debate bolsters expectations there will be a stormy relationship with Europe and a further relaxation of financial discipline,” he said. Italian stocks fell more than 1.5 percent while the pan-European STOXX 600 slipped 0.12 percent. Euro zone banks slid an even bigger 1.71 percent, extending losses despite a League spokesman saying the request for cancellation of the debt was not in the official draft of the government programme. The difference in Italian 10-year government borrowing costs over German rose sharply to the highest since late March. The MSCI world equity index, which tracks shares in 47 countries, slipped into negative territory. U.S. stock futures traded down 1.25 percent. TREASURY YIELDS PAUSE North Korea’s cancellation of a June 12 summit in Singapore added to geopolitical worries for financial markets, given it could see tensions on the Korean peninsula flare again and damage U.S.-China efforts to resolve an ongoing trade dispute. “This will weigh on the Korean reconstruction beneficiaries that have had a strong run on peace and even reunification hopes recently,” JPMorgan analysts wrote in a note. “The broader risk for the region if talks do break down is that Trump no longer feels the need to keep China on side and could escalate trade tensions again.” Elsewhere, the 10-year yield slipped to 3.057 percent. Strong U.S. retail sales and factory data on Tuesday pushed the U.S. 10-year yield as high as 3.095 percent, its highest since July 2011, raising worries about higher borrowing costs for companies worldwide. The U.S. currency has enjoyed a blistering rally in recent weeks as investors focus on the Federal Reserve raising interest rates while central banks elsewhere push back policy tightening. Rising U.S. borrowing costs and a stronger dollar hit hardest in emerging markets, where investors are withdrawing money - particularly from countries with large deficits and big dollar funding needs. Argentina and Turkey have been at the centre of the sell-off, their weakness compounded by political frictions. The Turkish lira had been testing record lows against both the dollar and the euro but clawed higher after officials from the central bank said they would be prepared to act to halt the rout. President Tayyip Erdogan’s comments that he plans to take greater control of the economy have hammered the lira this week. The Indonesian rupiah hit a 2-1/2-year low while the Malaysian ringgit touched a four-month low overnight. In commodities markets, gold rebounded slightly after hitting a 4-1/2-month low the previous day on a strong dollar. Crude oil prices declined but remained near recent highs amid concerns that U.S. sanctions on Iran may restrict crude exports from a major producer. For Reuters Live Markets blog on European and UK stock markets open a news window on Reuters Eikon by pressing F9 and type in ‘Live Markets’ in the search bar Additional reporting by Andrew Galbraith in SHANGHAI, Tomo Uetake in TOKYO, Swati Pandey in SYDNEY, Danilo Masoni in MILAN and Dhara Ranasinghe in LONDON Editing by Louise Ireland

https://www.reuters.com/article/global-markets/global-markets-italian-stocks-slide-dollar-powers-on-to-new-2018-high-idUSL5N1SN34N

Florida city looks for answers after a 'zombie alert' was sent to residents

Officials say they still don't who sent a "zombie alert" to residents of a Florida city following a power outage. Lake Worth spokesman Ben Kerr says an independent investigation is underway to determine who was behind the message sent to some 7,880 customers during a 27-minute power outage Sunday. During the city's own investigation, Kerr says officials determined that no current or former employees edited the pre-prepared message to include the warning of a zombie invasion. He tells the Palm Beach Post that "no one was fired for it." Palm Beach Post tweet Kerr said a hacking issue came up during Hurricane Irma last September. But that issue was dealt with quickly. He added that officials thought they got to all the messages, "but it turns out there was one hiding in the system."

https://www.cnbc.com/2018/05/23/florida-city-looks-for-answers-after-a-zombie-alert-was-sent-to-residents.html

Getty Realty Corp. Announces First Results

JERICHO, N.Y.--(BUSINESS WIRE)-- Getty Realty Corp. (NYSE:GTY) (“Getty” or the “Company”) announced today its financial results for the quarter ended March 31, 2018. Highlights For The First Quarter -- Net earnings of $0.25 per share -- Funds From Operations (FFO) of $0.44 per share -- Adjusted Funds From Operations (AFFO) of $0.42 per share -- Entered into an amended and restated credit agreement Christopher J. Constant, Getty’s President & Chief Executive Officer stated, “Our first quarter financial results continue to demonstrate the stability of our platform and the sustainability of our cash flows. Our performance was supported by the strength of the convenience and gas sector, which we believe continues to be one of the strongest consumer segments in the country. Additionally, we successfully completed the refinancing of our credit facility during the quarter, which extended our near-term debt maturities by four years. Also, subsequent to quarter end, we completed an accretive acquisition leaseback transaction that added 30 convenience store and gasoline station properties in the Southern United States to our portfolio. Finally, we are pleased to have been assigned a BBB- investment grade debt rating by Fitch Ratings, which should lead to an improved cost of capital over time, which further reinforces the confidence we have in our portfolio and in our ability to deliver returns for our shareholders.” Net Earnings The Company reported net earnings for the quarter ended March 31, 2018, of $10.0 million, or $0.25 per share, as compared to net earnings of $9.7 million, or $0.28 per share, for the same period in 2017. Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO) FFO for the quarter ended March 31, 2018, was $17.8 million, or $0.44 per share, as compared to $18.2 million, or $0.52 per share, for the same period in 2017. AFFO for the quarter ended March 31, 2018, was $16.8 million, or $0.42 per share, as compared to $14.2 million, or $0.40 per share, for the same period in 2017. All per share amounts in this press release are presented on a fully diluted per common share basis, unless stated otherwise. FFO and AFFO are defined and reconciled to net earnings in the financial tables at the end of this release. During the fourth quarter of 2017, the Company revised its definition of AFFO. See “Non-GAAP Financial Measures” below. Results of Operations Revenues from rental properties in continuing operations increased by $4.4 million to $28.3 million for the quarter ended March 31, 2018, as compared to $23.9 million for the same period in 2017. The increase in revenues from rental properties for the quarter ended March 31, 2018, was primarily due to revenue from the properties acquired during the year ended December 31, 2017. Property costs from continuing operations were $4.9 million for the quarter ended March 31, 2018, as compared to $4.8 million for the same period in 2017. The increase in property costs for the quarter ended March 31, 2018, was principally due to an increase in reimbursable real estate taxes, offset by a decrease in maintenance expenses. Environmental expenses from continuing operations were $1.2 million for the quarter ended March 31, 2018, as compared to a credit of $0.5 million for the same period in 2017. The increase in environmental expenses for the quarter ended March 31, 2018, was principally due to increases in environmental legal fees and net environmental remediation costs. Environmental expenses vary from period to period and, accordingly, undue reliance should not be placed on the magnitude or the direction of change in reported environmental expenses for one period, as compared to prior periods. General and administrative expenses from continuing operations were $3.6 million for the quarter ended March 31, 2018, as compared to $3.5 million for the same period in 2017. The increase in general and administrative expenses for the quarter ended March 31, 2018, was principally due to an increase in employee related expenses. Impairment charges in continuing operations were $2.4 million for the quarter ended March 31, 2018, as compared to $3.5 million for the same period in 2017. Impairment charges in continuing operations for the quarters ended March 31, 2018 and 2017, were primarily attributable to the effect of adding asset retirement costs due to changes in estimates associated with the Company’s environmental liabilities and reductions in estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids for certain properties. Portfolio Activities There were no property acquisitions during the three months ended March 31, 2018. Subsequent to March 31, 2018, the Company acquired fee simple interests in 30 properties for $52.2 million and entered into a unitary triple-net lease with GPM Investments, LLC. The Company expects the transaction to be immediately accretive to net earnings. Also, subsequent to March 31, 2018, the Company acquired fee simple interests in two properties for a purchase price of $2.7 million in the aggregate. Redevelopment Activities As of March 31, 2018, the Company is actively redeveloping 10 of its former convenience store and gasoline station properties either as a new convenience and gasoline use or for alternative single-tenant net lease retail uses. As of March 31, 2018, the Company had signed leases on six additional properties, that are currently part of its net lease portfolio. These properties are expected to be recaptured from their current leases and transferred to redevelopment when the appropriate entitlements, permits and approvals have been secured. Balance Sheet On March 23, 2018, the Company entered into an amended and restated credit agreement (the “Restated Credit Agreement”) amending and restating its prior credit agreement. Pursuant to the Restated Credit Agreement, the Company (a) increased its borrowing capacity under its unsecured revolving credit facility (the “Revolving Facility”) from $175.0 million to $250.0 million, (b) extended the maturity date of the Revolving Facility from June 2018 to March 2022, (c) extended the maturity date of its unsecured term loan (the “Term Loan”) from June 2020 to March 2023 and (d) amended certain financial covenants and provisions. The Restated Credit Agreement also reflects reductions in the interest rate for borrowings under each of the Revolving Facility and the Term Loan. As of March 31, 2018, the Company had $375.0 million of outstanding indebtedness with a weighted average interest rate of 4.6%. The Company’s indebtedness consisted of $150.0 million in aggregate borrowings under the Restated Credit Agreement and an aggregate principal amount of $225.0 million of senior unsecured notes. Total cash and cash equivalents were $18.0 million as of March 31, 2018. 2018 Guidance The Company reaffirms its 2018 AFFO guidance at a range of $1.68 to $1.74 per diluted share. The Company’s guidance does not assume any potential future acquisitions or capital markets activities. The guidance is based on current plans and assumptions and is subject to risks and uncertainties more fully described in this press release and the Company’s periodic reports filed with the Securities and Exchange Commission. Conference Call Information Getty will hold its First Quarter Earnings Conference Call on Wednesday, May 9, 2018, at 8:30 a.m. EDT. To participate in the call, please dial (888) 394-8218, or (323) 701-0225 for international participants, ten minutes before the scheduled start time. Participants may also access the call via live webcast by visiting the investors section of the Company's website at ir.gettyrealty.com . A replay will be available on Wednesday, May 9, 2018, beginning at 11:30 a.m. EDT through 11:59 p.m. EDT, Wednesday, May 16, 2018. To access the replay, please dial (844) 512-2921, or (412) 317-6671 for international participants, and reference pass code 8688667. About Getty Realty Corp. Getty Realty Corp. is the leading publicly-traded real estate investment trust in the United States specializing in the ownership, leasing and financing of convenience store and gasoline station properties. As of March 31, 2018, the Company owned 824 properties and leased 78 properties from third-party landlords in 28 states across the United States and Washington, D.C. Non-GAAP Financial Measures In addition to measurements defined by accounting principles generally accepted in the United States of America (“GAAP”), the Company also focuses on Funds From Operations (“FFO”) and Adjusted Funds From Operations (“AFFO”) to measure its performance. FFO and AFFO are generally considered by analysts and investors to be appropriate supplemental non-GAAP measures of the performance of REITs. FFO and AFFO are not in accordance with, or a substitute for, measures prepared in accordance with GAAP. In addition, FFO and AFFO are not based on any comprehensive set of accounting rules or principles. Neither FFO nor AFFO represent cash generated from operating activities calculated in accordance with GAAP and therefore these measures should not be considered an alternative for GAAP net earnings or as a measure of liquidity. These measures should only be used to evaluate the Company’s performance in conjunction with corresponding GAAP measures. FFO is defined by the National Association of Real Estate Investment Trusts as GAAP net earnings before depreciation and amortization of real estate assets, gains or losses on dispositions of real estate, impairment charges and cumulative effect of accounting change. The Company’s definition of AFFO is defined as FFO less (i) Revenue Recognition Adjustments (net of allowances), (ii) non-cash changes in environmental estimates, (iii) non-cash environmental accretion expense, (iv) environmental litigation accruals, (v) insurance reimbursements, (vi) legal settlements and judgments, (vii) acquisition costs expensed and (viii) other unusual items that are not reflective of the Company’s core operating performance. Other REITs may use definitions of FFO and/or AFFO that are different than the Company’s and, accordingly, may not be comparable. Beginning in the fourth quarter of 2017, the Company revised its definition of AFFO to exclude three additional items – environmental litigation accruals, insurance reimbursements, and legal settlements and judgments – because the Company believes that these items are not indicative of its core operating performance. While the Company does not label excluded items as non-recurring, the Company believes that excluding items from its definition of AFFO that are either non-cash or not reflective of its core operating performance provides analysts and investors the ability to compare its core operating performance between periods. AFFO for the quarter ended March 31, 2017, has been restated to conform to the Company’s revised definition. FFO excludes various items such as depreciation and amortization of real estate assets, gains or losses on dispositions of real estate and impairment charges. In the Company’s case, however, GAAP net earnings and FFO typically include the impact of revenue recognition adjustments comprised of deferred rental revenue (straight-line rental revenue), the net amortization of above-market and below-market leases, adjustments recorded for recognition of rental income recognized from direct financing leases on revenues from rental properties and the amortization of deferred lease incentives, as offset by the impact of related collection reserves. Deferred rental revenue results primarily from fixed rental increases scheduled under certain leases with the Company’s tenants. In accordance with GAAP, the aggregate minimum rent due over the current term of these leases is recognized on a straight-line basis rather than when payment is contractually due. The present value of the difference between the fair market rent and the contractual rent for in-place leases at the time properties are acquired is amortized into revenue from rental properties over the remaining lives of the in-place leases. Income from direct financing leases is recognized over the lease terms using the effective interest method, which produces a constant periodic rate of return on the net investments in the leased properties. The amortization of deferred lease incentives represents the Company’s funding commitment in certain leases, which deferred expense is recognized on a straight-line basis as a reduction of rental revenue. GAAP net earnings and FFO include non-cash changes in environmental estimates and environmental accretion expense, which do not impact the Company’s recurring cash flow. GAAP net earnings and FFO also include environmental litigation accruals, insurance reimbursements, and legal settlements and judgments, which items are not indicative of the Company’s core operating performance. GAAP net earnings and FFO from time to time may also include acquisition costs expensed and other unusual items that are not reflective of the Company’s core operating performance. Acquisition costs are expensed, generally in the period when properties are acquired and are not reflective of our core operating performance. The Company pays particular attention to AFFO, as the Company believes it best represents its core operating performance. In the Company’s view, AFFO provides a more accurate depiction than FFO of its core operating performance. By providing AFFO, the Company believes that it is presenting useful information that assists analysts and investors to better assess its core operating performance. Further, the Company believes that AFFO is useful in comparing the sustainability of its core operating performance with the sustainability of the core operating performance of other real estate companies. Forward-Looking Statements CERTAIN STATEMENTS CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. WHEN THE WORDS “BELIEVES,” “EXPECTS,” “PLANS,” “PROJECTS,” “ESTIMATES,” “ANTICIPATES,” “PREDICTS” AND SIMILAR EXPRESSIONS ARE USED, THEY IDENTIFY FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON MANAGEMENT’S CURRENT BELIEFS AND ASSUMPTIONS AND INFORMATION CURRENTLY AVAILABLE TO MANAGEMENT AND INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. EXAMPLES OF FORWARD-LOOKING STATEMENTS INCLUDE, BUT ARE NOT LIMITED TO, THOSE REGARDING THE COMPANY’S 2018 AFFO PER SHARE GUIDANCE, THOSE MADE BY MR. CONSTANT, STATEMENTS REGARDING THE RECAPTURE AND TRANSFER OF CERTAIN NET LEASE RETAIL PROPERTIES, STATEMENTS REGARDING THE ABILITY TO OBTAIN APPROPRIATE PERMITS AND APPROVALS, AND THOSE REGARDING THE EXPECTED ACCRETIVE NATURE OF THE POST QUARTER-END ACQUISITION AND LEASING TRANSACTION. INFORMATION CONCERNING FACTORS THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THESE FORWARD-LOOKING STATEMENTS CAN BE FOUND IN THE COMPANY’S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO PUBLICLY RELEASE REVISIONS TO THESE FORWARD-LOOKING STATEMENTS TO REFLECT FUTURE EVENTS OR CIRCUMSTANCES OR REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS. GETTY REALTY CORP. CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except per share amounts) March 31, 2018 December 31, 2017 ASSETS: Real estate: Land $ 587,511 $ 589,497 Buildings and improvements 377,875 379,785 Construction in progress 1,948 1,682 967,334 970,964 Less accumulated depreciation and amortization (136,723 ) (133,353 ) Real estate, net 830,611 837,611 Investment in direct financing leases, net 88,881 89,587 Notes and mortgages receivable 32,502 32,366 Cash and cash equivalents 18,013 19,992 Restricted cash 1,114 821 Deferred rent receivable 34,833 33,610 Accounts receivable, net of allowance of $1,962 and $1,840, respectively 1,110 3,712 Prepaid expenses and other assets 54,329 55,055 Total assets $ 1,061,393 $ 1,072,754 LIABILITIES AND SHAREHOLDERS’ EQUITY: Borrowings under credit agreement, net $ 146,969 $ 154,502 Senior unsecured notes, net 224,624 224,656 Environmental remediation obligations 63,364 63,565 Dividends payable 12,890 12,846 Accounts payable and accrued liabilities 62,028 63,490 Total liabilities 509,875 519,059 Commitments and contingencies — — Shareholders’ equity: Preferred stock, $0.01 par value; 10,000,000 shares authorized; unissued — — Common stock, $0.01 par value; 60,000,000 shares authorized; 39,710,297 and 39,696,110 shares issued and outstanding, respectively 397 397 Additional paid-in capital 605,553 604,872 Dividends paid in excess of earnings (54,432 ) (51,574 ) Total shareholders’ equity 551,518 553,695 Total liabilities and shareholders’ equity $ 1,061,393 $ 1,072,754 GETTY REALTY CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands, except per share amounts) Three Months Ended March 31, 2018 2017 Revenues: Revenues from rental properties $ 28,284 $ 23,897 Tenant reimbursements 3,068 2,993 Interest on notes and mortgages receivable 764 758 Total revenues 32,116 27,648 Operating expenses: Property costs 4,935 4,810 Impairments 2,427 3,468 Environmental 1,247 (541 ) General and administrative 3,587 3,493 Allowance for uncollectible accounts 126 132 Depreciation and amortization 5,594 4,392 Total operating expenses 17,916 15,754 Operating income 14,200 11,894 Gain (loss) on dispositions of real estate 649 (331 ) Other income, net 363 234 Interest expense (5,050 ) (4,080 ) Earnings from continuing operations 10,162 7,717 Discontinued operations: (Loss) earnings from discontinued operations (130 ) 1,987 Net earnings $ 10,032 $ 9,704 Basic earnings per common share: Earnings from continuing operations $ 0.25 $ 0.22 Earnings from discontinued operations — 0.06 Net earnings $ 0.25 $ 0.28 Diluted earnings per common share: Earnings from continuing operations $ 0.25 $ 0.22 Earnings from discontinued operations — 0.06 Net earnings $ 0.25 $ 0.28 Weighted average common shares outstanding: Basic 39,710 34,555 Diluted 39,712 34,555 Dividends declared per common share $ 0.32 $ 0.28 GETTY REALTY CORP. RECONCILIATION OF NET EARNINGS TO FUNDS FROM OPERATIONS AND ADJUSTED FUNDS FROM OPERATIONS (Unaudited) (in thousands, except per share amounts) Three Months Ended March 31, 2018 2017 Net earnings $ 10,032 $ 9,704 Depreciation and amortization of real estate assets 5,594 4,392 (Gain) loss on dispositions of real estate (649 ) 331 Impairments 2,817 3,737 Funds from operations 17,794 18,164 Revenue recognition adjustments (782 ) (419 ) Changes in environmental estimates (512 ) (4,317 ) Accretion expense 691 1,033 Environmental litigation accruals - (73 ) Insurance reimbursements (215 ) (218 ) Legal settlements and judgments (147 ) - Adjusted funds from operations $ 16,829 $ 14,170 Basic per share amounts: Earnings per share $ 0.25 $ 0.28 Funds from operations per share 0.44 0.52 Adjusted funds from operations per share $ 0.42 $ 0.40 Basic weighted average common shares outstanding 39,710 34,555 Diluted per share amounts: Earnings per share $ 0.25 $ 0.28 Funds from operations per share 0.44 0.52 Adjusted funds from operations per share $ 0.42 $ 0.40 Diluted weighted average common shares outstanding 39,712 34,555 View source version on businesswire.com : https://www.businesswire.com/news/home/20180508006711/en/ Danion Fielding Chief Financial Officer 516-478-5400 Investor Relations 516- 478-5418 ir@gettyrealty.com Source: Getty Realty Corp.

http://www.cnbc.com/2018/05/08/business-wire-getty-realty-corp-announces-first-quarter-2018-results.html

UK's Johnson says he's appalled by murder of another Russian journalist

LONDON (Reuters) - Britain’s foreign minister Boris Johnson said on Wednesday he was appalled by the murder of “another vocal Russian journalist” and it was vital that those responsible were brought to justice. Britain's Foreign Secretary Boris Johnson attends a news conference in Buenos Aires, Argentina, May 22, 2018. REUTERS/Marcos Brindicci Arkady Babchenko, a prominent journalist and critic of President Vladimir Putin, was shot dead in Kiev, Ukraine’s capital, where he had fled into exile following threats, police said on Tuesday. Russia has rejected Ukraine’s allegation that Moscow was behind the murder. “Appalled to see another vocal Russian journalist, Arkady Babchenko, murdered,” Johnson said on Twitter. “We must defend freedom of speech and it is vital that those responsible are now held to account.” Reporting by Alistair Smout; Editing by William Schomberg Our Standards: The Thomson Reuters Trust Principles. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Advertise with Us Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

https://www.reuters.com/article/us-ukraine-russia-journalist-britain/uks-johnson-says-hes-appalled-by-murder-of-another-russian-journalist-idUSKCN1IV14P

UPDATE 3-Lilly to buy Armo Biosciences for $1.6 bln to bolster cancer pipeline

* Lilly offers to pay $50 per Armo share in cash * Armo’s lead drug has presented data for several cancer types * Lilly’s shares up 1.3 pct, Armo’s shares surge 66.7 pct (Adds analysts’ comments; updates share movement) By Manas Mishra May 10 (Reuters) - Eli Lilly and Co said on Thursday it would buy Armo BioSciences Inc for about $1.6 billion to expand its portfolio of drugs that helps body’s immune system fight cancer as the U.S. drugmaker chases rivals in a lucrative market. Lilly’s offer of $50 per share in cash represents a premium of 68 percent to Armo’s Wednesday close. Armo’s shares were trading close to the offer price at $49.73, while Lilly’s shares rose 1.2 percent to $80.22. The deal comes just four months after Armo went public and would give Lilly access to the smaller drug developer’s lead candidate, pegilodecakin. “This is one of the fastest post-IPO exits we’ve seen in a long time,” said Jefferies analyst Biren Amin, adding that the deal value looked fair considering that Armo has presented data for the drug in different types of cancer. The treatment is being evaluated in pancreatic cancer patients in a late-stage study as well as in earlier stage trials for other forms of cancer. Armo’s lead treatment is a naturally occurring immune growth factor called a pegylated interleukin-10 that stimulates the survival, expansion and killing potential of a particular type of white blood cell in the immune system. Armo has several other drugs in various stages of pre-clinical development and that would give Lilly “a path and footing” in the immuno-oncology space, according to Guggenheim Securities analyst Tony Butler. Immuno-oncology is one of the faster growing areas of cancer treatment with major players such as Merck & Co and Bristol-Myers Squibb closely competing for a bigger share of the market. Last month, Lilly appointed the director of Thoracic Medical Oncology at New York University’s School of Medicine to lead its medical development in this area. Lilly said it expected to close the deal by the end of the second quarter of 2018. Credit Suisse was the exclusive financial adviser to Lilly and Wachtell, Lipton, Rosen & Katz its legal adviser. Centerview Partners LLC was the lead financial adviser, while Jefferies LLC also advised Armo on the deal. Gunderson Dettmer was its legal adviser. (Reporting by Manas Mishra in Bengaluru; Editing by Arun Koyyur)

https://www.reuters.com/article/armo-biosciences-ma/update-1-lilly-to-buy-armo-biosciences-for-1-6-bln-to-bolster-cancer-pipeline-idUSL3N1SH4ZH

Trump says U.S. officials arrive in North Korea to prepare for talks

WASHINGTON (Reuters) - U.S. President Donald Trump said on Sunday his team arrived in North Korea to arrange for his possible meeting with North Korean leader Kim Jung Un. U.S. President Donald Trump talks to the media in the Oval Office of the White House in Washington, U.S., May 26, 2018. REUTERS/Yuri Gripas In a message on Twitter, Trump said: “Our United States team has arrived in North Korea to make arrangements for the Summit between Kim Jong Un and myself. I truly believe North Korea has brilliant potential and will be a great economic and financial Nation one day. Kim Jong Un agrees with me on this. It will happen!” Reporting by Joel Schectman; Editing by Peter Cooney

https://www.reuters.com/article/us-northkorea-missiles-trump/trump-says-u-s-officials-arrive-in-north-korea-to-prepare-for-talks-idUSKCN1IS0SC

From Toys R Us to Pilates studios: Malls fill empty stores with latest fitness fads

When Tara Gilad came across an empty Subway sandwich shop at the Nut Tree Plaza in Vacaville, Calif., she saw an opportunity. Now Gilad, founder of the healthy food chain Vitality Bowls, will be selling her soups, acai meals and smoothies out of the former sandwich shop. And she has her eye on a few of the roughly 500 other locations Subway is planning to close this year. "The space itself is desirable for us is because they're usually the same size,'' says Gilad. "It is an opportunity for us.'' In the world of retail, it's increasingly out with the old — traditional department stores or aging fast food chains — and in with new wellness-oriented gyms and eateries that are in vogue among consumers. A growing number of Pilates studios, juice shops, and other fitness- and health-focused businesses are filling the void as companies like Sears , J.C. Penney , Toys R Us and Subway shutter locations. "We are definitely seeing an increase in fitness and lifestyle-oriented tenants moving into space that was previously occupied by retail tenants,'' says Stephen Lebovitz, CEO of CBL & Associates which owns and manages 119 retail properties. The shift is not only being spurred by retail owners catering to the changing tastes of customers who want to do more than shop when they hit the mall, but wellness businesses that desire the foot traffic and ready-made storefronts left behind when traditional stores and restaurants make an exit. Gilad says that there are currently 50 Vitality Bowls around the country, and several have found a home in storefronts vacated by frozen yogurt and cupcake businesses. "Typically they have all the plumbing and electrical we need,'' she says of such locations "so (as) a remodel, that can save us thousands of dollars.'' Read more from USA Today: Sears is closing its last store in Chicago, its hometown 2 reasons why shopping malls may make a comeback Grocery shopping is no longer a one-stop experience Shaun Grove, president of the Club Pilates fitness chain, expects that in roughly the next year, 5% to 10% of their clubs will be located in spaces that once housed retailers. At outdoor malls "We find more of these Toys R Us (stores) and the Sears' and the Blockbusters that have gone out of business,'' Grove says. "What we're seeing -- and we have been seeing over the last several years -- is these landlords wanting to break up those centers into four or five pieces and bring in different boutique fitness concepts that are all very complementary to each other.'' Fitness isn't the only non-traditional business moving into empty storefronts. Offices, apartments and family attractions like aquariums or restaurants that feature bowling and other activities are also sprouting in malls and outdoor shopping centers. CBL Properties, which has real-estate holdings in 27 states, said that in the first quarter of this year, 70% of its new leasing activity was for non-retail uses. And a survey by the International Council of Shopping Centers found that 65% of shoppers generally visit non-retail tenants while at the mall. But wellness oriented eateries and studios are definitely becoming a fixture. At CBL's York Galleria in York, Pa., a one-time J.C. Penney houses a Golds Gym along with the clothing stores Marshall's and H&M. And a Planet Fitness is being built as part of the redevelopment of another J.C. Penney at CBL's Eastland Mall in Bloomington, IL. GGP, a real estate company with 125 retail properties throughout the U.S., estimates that nearly three-quarters of a million square feet of its retail space will be signed to fitness-oriented businesses like the cycling workout chain CycleBar or Fit Body Bootcamp by the end of 2018. "Our job is to figure out . .. what does the American consumer want ,'' says Melinda Holland, senior vice president of business development at GGP. "Right now it's all about fitness, and it's about food, and it's about healthy lifestyle. So that's the type of retailer that we're going to try and bring into our shopping centers.'' It's not that clothing and accessory sellers aren't vying for--or wanted in-- vacant retail spaces, Holland says. Fast fashion giant Zara and casual clothing chain Uniqlo are among the businesses that have moved into GGP properties in the last year. But fitness studios can be magnets for other lifestyle tenants, like apparel seller Lululemon, or the exercise bike business Peloton, Holland says, creating a mix that is particularly appealing to shoppers pursuing a healthier lifestyle. At GGP's Otay Ranch Town Center in Chula Vista, Calif., five fitness retailers are either operating or preparing to open. Next, "we're working on the food and juice bars that go along with (them),'' Holland says, noting that GGP centers have more than 60 smoothie and juice bars. Grove of Club Pilates says that when negotiating with mall owners, he will often bring up other chains that are under his parent company Xponential Fitness. "We can go to our Cycle Bar franchisees . . . our Row House and Stretch Labs and tell the landlord, 'We can fill this whole space up ,'' Grove says. "So it becomes advantageous for these landlords to really work with us across the country because we have the potential to fill up a lot of these fitness rows just with the brands that we own.''

https://www.cnbc.com/2018/05/08/from-toys-r-us-to-pilates-studios-malls-fill-empty-stores-with-latest-fitness-fads.html

Competition from Fortnite helps EA, Activision, says Ross Gerber

Competition from Fortnite helps EA, Activision, says Ross Gerber Wednesday, May 09, 2018 - 04:58 Fortnite's growth expands the market for video games so it's a positive for Electronic Arts and Activision, Gerber Kawasaki's CEO says in an interview with Reuters' Fred Katayama. ▲ Hide Transcript ▶ View Transcript Fortnite's growth expands the market for video games so it's a positive for Electronic Arts and Activision, Gerber Kawasaki's CEO says in an interview with Reuters' Fred Katayama. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2KPFBdx

https://uk.reuters.com/video/2018/05/09/competition-from-fortnite-helps-ea-activ?videoId=425340910

Strategic Oil & Gas Announces Management Changes

CALGARY, Alberta, May 30, 2018 (GLOBE NEWSWIRE) -- Strategic Oil & Gas Ltd. (TSXV:SOG) (“ Strategic ” or the “ Company ”) is pleased to announce that Amanda Reitenbach will be joining the Company as Vice-President, Development and Operations effective July 9, 2018. Ms. Reitenbach was most recently development manager for the Cardium and Deep Basin operating unit at an intermediate publicly traded oil and gas company, where she was successful in building a high performance technical team and delivering significant oil production and value growth at attractive metrics over the past three years. Ms. Reitenbach has over 20 years of engineering and development experience in the oil & gas industry, and Strategic looks forward to utilizing her skills and expertise as the Company moves forward with its value generation plan for the Muskeg light oil development at Marlowe. The Company also announces that Chief Operating Officer Cody Smith has resigned to pursue other opportunities. Strategic wishes to thank Mr. Smith for his efforts over his six years with the Company and wishes him well in future endeavors. During his tenure Strategic has made significant progress in developing the Muskeg resource play. About Strategic Oil & Gas Strategic is a junior oil and gas company committed to becoming a premier northern oil and gas operator by exploiting its light oil assets primarily in northern Alberta. The Company maintains control over its resource base through high working interest ownership in wells, construction and operation of its own processing facilities and a significant undeveloped land and opportunity base. Strategic’s primary operating area is at Marlowe, Alberta. Strategic’s common shares trade on the TSX Venture Exchange under the symbol SOG. The TSXV has in no way passed on the merits of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. ADDITIONAL INFORMATION Additional information, including the Company’s recently updated corporate presentation, is also available at www.sogoil.com and at www.sedar.com . For more information, please contact: Tony Berthelet President & Chief Executive Officer Aaron Thompson Chief Financial Officer Strategic Oil & Gas Ltd. 1100, 645 7 th Avenue SW Calgary, AB T2P 4G8 Telephone: 403.767.9000 Fax: 403.767.9122 Source: Strategic Oil & Gas Ltd

http://www.cnbc.com/2018/05/30/globe-newswire-strategic-oil-gas-announces-management-changes.html

‘Active Shooter’ Video Game May Still See the Light of Day, Developer Says

By Chris Morris 12:27 PM EDT The developer of Active Shooter , the video game that let players play as a school shooter , says he may still release the controversial title, despite its removal from Steam, the largest digital storefront for PC games. Anton Makarevskiy, a 21-year old developer from Moscow, says he was surprised at the furor surrounding the game and he’s considering giving it away for free online, despite the protests from survivors and the families of victims. “It’s not promoting violence, definitely no,” Makarevskiy told PC Magazine . Active Shooter , which Valve Software removed from Steam earlier this week , describes itself as a simulation of an active shooter situation, where players can opt to be either the killer or the SWAT team tasked with neutralizing the situation. Screenshots from the game show attacks taking place in both an office and school environment. Makarevskiy, though, says the game’s school setting levels exist only because the 3D model for them can be purchased by developers at an affordable price. And he believes the critics focusing on Active Shooter are ignoring the real issues behind the rash of tragedies in the U.S. this year. (On average, there has been nearly one school shooting per week in 2018.) “From my point of view, they have to focus on the real issues rather than video games,” he said. Makarevskiy says he began work on Active Shooter two months ago as a way to escape a “crappy job” printing posters for businesses and events. He claims to have left the job to focus full time on game development right before Valve and Steam banned him from the service. “He didn’t think the game would be as controversial as it turned out to be,” said Ata Berdyev, who translated for Makarevskiy in the interview and was also banned by Steam for his role in the game. “He doesn’t like the idea of people fighting with each other over such a topic.” That’s unlikely to win any sympathy among opponents, though. Ryan Petty, father of 14-year-old Alaina Petty, a 14-year-old who was slain during the fatal shooting at Marjory Stoneman Douglas High School in Florida , called the game “disgusting” on Facebook , adding “keeping our kids safe is a real issue affecting our communities and is in no way a ‘game.’” SPONSORED FINANCIAL CONTENT

http://fortune.com/2018/05/31/active-shooter-video-game-may-still-be-released/

Bank of England and UK finance ministry divided over city regulation after Brexit - FT

May 28, 2018 / 4:50 PM / Updated 16 minutes ago Bank of England and UK finance ministry divided over city regulation after Brexit - FT Reuters Staff 2 Min Read LONDON (Reuters) - Britain’s finance ministry and the Bank of England are at odds over how to regulate financial services in the City of London after Brexit, the Financial Times reported on Monday, citing unnamed officials. FILE PHOTO: The Bank of England is seen in London, Britain, April 9, 2018. Picture taken April 9, 2018. REUTERS/Hannah McKay/File Photo Finance minister Philip Hammond favours an approach that would keep Britain close to the European Union after Britain leaves the bloc, but the central bank does not want to be left as a “rule-taker”, according to the report. “It is very, very bad. The bank wants to have as much control as possible and doesn’t want to be a rule-taker,” the FT quoted one BoE official as saying. Another said there was a fear that the finance ministry “is going to give it all away”. The Bank of England (BoE) declined to comment on the report. The BoE and the finance ministry, known in Britain as the Treasury, had both backed “mutual recognition” as the basis of a deal in financial services, meaning close co-operation between regulators and financial policymakers would see British and EU regulations recognised by the other party. FILE PHOTO: Britain's Chancellor of the Exchequer Philip Hammond arrives at a meeting of regional leaders of the financial and professional services in Halifax, Britain, May 17, 2018. REUTERS/Craig Brough However, the EU’s chief negotiator on Brexit Michel Barnier said last month the bloc’s existing system of market access for foreign financial firms could work well for Britain after it leaves the European Union, reducing the chances that Britain’s financial sector will get the bespoke deal that London is hoping for. The search for a plan B has exposed the divisions between the BoE’s deputy governor for financial stability Jon Cunliffe and the Treasury on the issue, the FT said. A spokesman for the Treasury said it was united with the Bank of England in aiming to ensure the stability and prosperity of the economy. “We are working together to ensure that the UK continues to remain the pre-eminent financial services centre of the world,” the spokesman said. “We agree the United Kingdom cannot be an automatic rule-taker.” Reporting by Alistair Smout; editing by Andrew Roche

https://www.reuters.com/article/uk-britain-eu-banks-boe/bank-of-england-and-uk-finance-ministry-divided-over-city-regulation-after-brexit-ft-idUSKCN1IT1QJ

GOL's operating profit increased 97% to R$504 million in 1Q18. Operating margin of 17% is the highest in the last 12 years

SÃO PAULO, May 9, 2018 /PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), Brazil's #1 airline, announces its consolidated results for the first quarter 2018 (1Q18). All information is presented in accordance with IFRS. Financial and Operational Highlights: Significantly improved operating indicators: for the quarter, RPKs increased by 4.5% (from 9.6 billion in 1Q17 to 10.0 billion in 1Q18), mainly due to a 1.8% increase in the number of transported passengers. Strong demand allowed GOL to continue driving revenue management; average yield per passenger increased by 10.3% in the quarter compared to 1Q17, reaching 28.02 cents (R$). Supply growth was measured, with ASKs increasing 3.3% compared to 1Q17 (driven by a 0.7% increase in take-offs and a 3.6% stage-length expansion). As a result, the average load factor in 1Q18 grew 0.8 pp compared to 1Q17, reaching 80.4%. GOL remained the industry leader in on-time performance, with 93.7% of flights on-time in 1Q18 according to Infraero. Strong revenue growth: the combination of higher demand and optimized pricing resulted in net revenue for the quarter of R$3.0 billion, an increase of 14.4% compared to 1Q17. Net RASK was 23.87 cents (R$) in 1Q18, an increase 10.7% over 1Q17. Net PRASK increased 11.5% over 1Q17, reaching 22.53 cents (R$). Average fare increased by 13.1% from R$296 to R$335. GOL's 2018 guidance is for net revenues of approximately R$11 billion. Controlled cost environment: total CASK in 1Q18 was 19.80 cents (R$), 1.9% higher than in 1Q17, in spite of a less benign jet fuel environment; on an ex-fuel basis, CASK fell by 4.8%. Excluding gains on aircraft sales CASK ex-fuel increased by 0.2%. GOL remains the cost leader in South America for the 17th consecutive year. Continued margin expansion: while the average price of jet fuel increased by 7.4% in 1Q18 over 4Q17, the combination of stronger pricing, higher demand, R$19 million of gains on fuel hedging gains, and R$82 million of gains on aircraft sales permitted GOL's EBIT margin to expand to 17.0% in 1Q18, the highest first quarter indicator since 2006 and a 7.1 pp improvement over 1Q17. Operating income (EBIT) in 1Q18 was R$504.3 million, an increase of 97.4% compared to 1Q17. EBITDA margin was 22.1% in 1Q18, a growth of 8.1 pp q-o-q. EBITDAR margin was 30.0% in 1Q18, an increase of 6.7 pp q-o-q over 1Q17. GOL's 2018 guidance is for an EBIT margin of approximately 11%. Balance sheet strengthening: net debt (excluding perpetual bonds) to LTM EBITDA was 2.5x as of March 31, 2018, improving versus the year-end (3.0x) and year-ago metrics (5.2x). Total liquidity, including cash, financial investments, restricted cash and accounts receivable, totaled R$3.1 billion, an increase of 104.9% versus a year ago. "We expect to continually drive our efficiency and technology advantages this year, as well as incorporating the new Boeing 737 Max 8s in the second half of 2018," commented Paulo Kakinoff, CEO. Access to 1Q18 earnings release, management videos, presentation and full financials already available on: www.voegol.com.br/ir 1Q18 Earnings Call: May 9, 2018, 11:00 a.m. (US EDT), Phone: +1 (412) 317-5453, Code: GOL About GOL Linhas Aéreas Inteligentes S.A. ( www.voegol.com.br ): Brazil's largest airline group with three main businesses: passenger transportation, cargo transportation and coalition loyalty program. View original content: http://www.prnewswire.com/news-releases/gols-operating-profit-increased-97-to-r504-million-in-1q18-operating-margin-of-17-is-the-highest-in-the-last-12-years-300645307.html SOURCE GOL Linhas Aéreas Inteligentes S.A.

http://www.cnbc.com/2018/05/09/pr-newswire-gols-operating-profit-increased-97-percent-to-r504-million-in-1q18-operating-margin-of-17-percent-is-the-highest-in-the-last.html

U.S. Commerce Secretary Ross to visit China June 2-4 to discuss trade: Xinhua

May 25, 2018 / 3:00 AM / Updated 9 hours ago U.S. Commerce's Ross to visit China for trade talks in early June Reuters Staff 2 Min Read BEIJING (Reuters) - U.S. Commerce Secretary Wilbur Ross will visit China early next month for another round of talks amid ongoing trade frictions between the world’s two largest economies. FILE PHOTO: U.S. Commerce Secretary Wilbur Ross arrives at a Senate Commerce, Justice, Science and Related Agencies Subcommittee holds a hearing on the FY2019 funding request and budget justification for the Commerce Department on Capitol Hill in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas Ross will visit China from June 2 to June 4, the official Xinhua news agency reported on Friday, adding that Vice Premier Liu He, China’s chief negotiator in the trade dispute, had spoken with Ross over the phone. It gave no further details. The trade dispute took on added complexity this week when U.S. President Donald Trump announced a national security investigation into imports of cars and trucks, a probe that could lead to tariffs against China as well as key U.S. allies such as Canada, Mexico, Japan and Germany. U.S. Treasury Secretary Steven Mnuchin told CNBC on Monday that Ross is aiming to negotiate “a framework” that could then turn into “binding agreements ... between companies.” In the last round of talks in Washington in mid-May, China agreed to ramp up purchases of U.S. agriculture and energy products, and the two sides worked towards a possible reprieve for ZTE Corp ( 000063.SZ )( 0763.HK ) from a U.S. ban on American companies supplying the Chinese maker of telecoms equipment. The developments and constructive comments from both sides eased fears that the United States and China could plunge into a trade war, but President Donald Trump said this week that any deal would need “a different structure,” fueling uncertainty over the negotiations. Trump has threatened to impose tariffs on up to $150 billion of Chinese goods to combat what he says is Beijing’s misappropriation of U.S. technology through joint venture requirements and other policies. Beijing has threatened equal retaliation, including tariffs on some of its largest U.S. imports, including aircraft, soybeans and autos. Reporting by Stella Qiu and Tony Munroe; Editing by Kim Coghill

https://www.reuters.com/article/us-usa-trade-china/u-s-commerce-secretary-ross-to-visit-china-june-2-4-to-discuss-trade-xinhua-idUSKCN1IQ0AM

The Klein Law Firm Reminds Investors of a Class Action Commenced on Behalf of Gridsum Holding Inc. Shareholders and a Lead Plaintiff Deadline of June 25, 2018 (GSUM)

NEW YORK--(BUSINESS WIRE)-- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Gridsum Holding Inc. (NASDAQ:GSUM). The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws. In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) Gridsum lacked effective internal control over financial reporting; (ii) consequently, Gridsum’s financial statements were inaccurate and misleading, and did not fairly present, in all material respects, the financial condition and results of operations of the Company; and (iii) as a result of the foregoing, Gridsum’s public statements were materially false and misleading at all relevant times. Shareholders have until June 25, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member. If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-c/gridsum-holding-inc?wire=2 . Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes. View source version on businesswire.com : https://www.businesswire.com/news/home/20180516006412/en/ The Klein Law Firm Joseph Klein, Esq., 212-616-4899 Fax: 347-558-9665 www.kleinstocklaw.com Source: The Klein Law Firm

http://www.cnbc.com/2018/05/16/business-wire-the-klein-law-firm-reminds-investors-of-a-class-action-commenced-on-behalf-of-gridsum-holding-inc-shareholders-and-a-lead.html

Study shows surge in calls to poison control for ADHD meds

A NEW STUDY IS SOUNDING the alarm about misuse of medication for attention deficit hyperactivity disorder . There were 156,365 calls to poison control centers for people under 20 who were improperly exposed to ADHD medication from 2000 through 2014, according to the study published in the journal Pediatrics. The number of calls surged between 2000 and 2011 before declining slightly between 2011 and 2014. Overall, call volume increased by 60 percent over the period, says the study's senior author, Gary Smith. More from US News & World Report: Is ADHD being oversold in America? What are the signs my teen might be misusing ADHD medications? Saving lives, losing themselves "As the diagnoses and treatment with medication of ADHD have increased in the U.S., these exposures have also increased, which means we really do need to pay more attention … and for different age groups, come up with different strategies to prevent them," says Smith, director of the Center for Injury Research and Policy at Nationwide Children's Hospital in Columbus, Ohio. As of 2016, an estimated 6.1 million children between the ages of 2 and 17 had at some point been diagnosed with ADHD, according to the Centers for Disease Control and Prevention and survey data . About 6 in 10 currently with ADHD took medication to treat the neurobehavioral disorder, which can make it extremely difficult for children to focus or sit still. Between 2003 and 2011, the estimate of children and adolescents diagnosed at some point with ADHD rose from 4.4 million to 6.4 million, though those figures are based on a differently administered survey and represent a smaller age range of 4 to 17. Brand-name medications for ADHD include Adderall, Concerta and Ritalin. According to the study, most of the more than 156,000 poison-control calls were for those who experienced unintentional exposure to such drugs – a category including young children who accessed poorly stored medications and those a bit older who may have taken too much or the wrong medication. Three-quarters of the calls involved children 12 years old or younger, and most didn't result in a trip to a health care facility. But among teenagers, nearly a quarter of calls were for those intentionally abusing or misusing the pills, the study showed. Almost another quarter – nearly 9,000 calls – were related to those between 13 and 19 years old who may have been attempting suicide, which Smith says is "very concerning." "They're taking bigger doses, it's resulting in more serious outcomes and it's not infrequent," he says. "Looking into the motivations behind these attempted suicides would be absolutely critical." While the study only reported three deaths, all were tied to intentional exposure among teens, including one suspected suicide. Smith says it's unclear why so many teenagers abused or misused the medication, or whether the pills they took were prescribed to them or not. The misuse of ADHD medication is fairly prevalent among college students, who may get the pills from friends and use the so-called study drugs to help them focus. To prevent improper exposure to ADHD medication, parents and teenagers should be educated on the dangers of misuse, the report said. Other strategies include storing medication safely, packaging pills by dosage and considering the combination of medication and behavioral therapy for treating ADHD. "When you have these kinds of medications in the home that can cause serious side effects, they need to be kept in their containers with a child-resistant closure so that they don't get into them," Smith says.

https://www.cnbc.com/2018/05/23/study-shows-surge-in-calls-to-poison-control-for-adhd-meds.html

Editors Choice Pictures

Pictures | Wed May 16, 2018 | 7:40am EDT Editors Choice Pictures Smoke and lava erupt from a fissure near a home Smoke and lava erupt from a fissure near a home 1 / 24 An electricity department worker rests next to uprooted trees after Tuesday night's dust storm in New Delhi, India. REUTERS/Adnan Abidi Reuters / Wednesday, May 16, 2018 An electricity department worker rests next to uprooted trees after Tuesday night's dust storm in New Delhi, India. REUTERS/Adnan Abidi Close 2 / 24 Malaysian politician Anwar Ibrahim leaves a hospital where he is receiving treatment, ahead of an audience with Malaysia's King Sultan Muhammad V, in Kuala Lumpur, Malaysia. REUTERS/Lai Seng Sin Reuters / Wednesday, May 16, 2018 Malaysian politician Anwar Ibrahim leaves a hospital where he is receiving treatment, ahead of an audience with Malaysia's King Sultan Muhammad V, in Kuala Lumpur, Malaysia. REUTERS/Lai Seng Sin Close 3 / 24 Children play with soap bubbles created by a street performer at Rizal park in Luneta, metro Manila, Philippines. REUTERS/Romeo Ranoco Reuters / Wednesday, May 16, 2018 Children play with soap bubbles created by a street performer at Rizal park in Luneta, metro Manila, Philippines. REUTERS/Romeo Ranoco Close 4 / 24 A gust of wind blows Pope Francis' mantle during the Wednesday general audience in Saint Peter's square at the Vatican. REUTERS/Max Rossi Reuters / Wednesday, May 16, 2018 A gust of wind blows Pope Francis' mantle during the Wednesday general audience in Saint Peter's square at the Vatican. REUTERS/Max Rossi Close 5 / 24 A Palestinian demonstrator reacts as others run from tear gas fired by Israeli forces during a protest marking the 70th anniversary of Nakba, at the Israel-Gaza border in the southern Gaza Strip. REUTERS/Ibraheem Abu Mustafa Reuters / Tuesday, May 15, 2018 A Palestinian demonstrator reacts as others run from tear gas fired by Israeli forces during a protest marking 6 / 24 An Israeli drone drops tear gas at Palestinian demonstrators during a protest marking the 70th anniversary of Nakba, at the Israel-Gaza border in the southern Gaza Strip. REUTERS/Ibraheem Abu Mustafa Reuters / Tuesday, May 15, 2018 An Israeli drone drops tear gas at Palestinian demonstrators during a protest marking 7 / 24 Cast member Chewbacca poses with photographers at the photocall for "Solo: A Star Wars Story" at Cannes. REUTERS/Regis Duvignau Reuters / Tuesday, May 15, 2018 Cast member Chewbacca poses with photographers at the photocall for "Solo: A Star Wars Story" at Cannes. REUTERS/Regis Duvignau Close 8 / 24 A student at Meghan Markle's former Los Angeles high school wears British and American flags she takes part in a 'Here's to Meghan!' celebration ahead of her marriage to Prince Harry, as they celebrate at Immaculate Heart High School in Los Angeles,... more Reuters / Tuesday, May 15, 2018 A student at Meghan Markle's former Los Angeles high school wears British and American flags she takes part in a 'Here's to Meghan!' celebration ahead of her marriage to Prince Harry, as they celebrate at Immaculate Heart High School in Los Angeles, California. REUTERS/Mike Blake Close 9 / 24 A man stands on an old train of Bolivian Railways Company from 1870-1900 at the train cemetery in Uyuni, Potosi, Bolivia. REUTERS/David Mercado Reuters / Wednesday, May 16, 2018 A man stands on an old train of Bolivian Railways Company from 1870-1900 at the train cemetery in Uyuni, Potosi, Bolivia. REUTERS/David Mercado Close 10 / 24 People watch as ash erupts from the Halemaumau crater near the community of Volcano during ongoing eruptions of the Kilauea Volcano in Hawaii. REUTERS/Terray Sylvester Reuters / Wednesday, May 16, 2018 People watch as ash erupts from the Halemaumau crater near the community of Volcano during ongoing eruptions of the Kilauea Volcano in Hawaii. REUTERS/Terray Sylvester Close 11 / 24 Zamalek players celebrate with the trophy after winning the Egyptian Cup in Alexandria. REUTERS/Mohamed Abd El Ghany Reuters / Tuesday, May 15, 2018 Zamalek players celebrate with the trophy after winning the Egyptian Cup in Alexandria. REUTERS/Mohamed Abd El Ghany Close 12 / 24 The sun sets behind the Statue of Liberty after a rain storm in New York. REUTERS/Lucas Jackson Reuters / Tuesday, May 15, 2018 The sun sets behind the Statue of Liberty after a rain storm in New York. REUTERS/Lucas Jackson Close 13 / 24 Adrianna Valoy, the mother of slain New York City police Detective Miosotis Familia, hugs President Trump as he speaks at the 37th Annual National Peace Officers' Memorial Service at the U.S. Trump as he speaks at the 37th Annual National Peace Officers' Memorial Service at the U.S. Capitol in Washington. REUTERS/Kevin Lamarque Close 14 / 24 Franky Zapata flies on a Flyboard above the Croisette and the Mediterranean sea at the Cannes Film Festival. REUTERS/Eric Gaillard Reuters / Tuesday, May 15, 2018 Franky Zapata flies on a Flyboard above the Croisette and the Mediterranean sea at the Cannes Film Festival. REUTERS/Eric Gaillard Close 15 / 24 Model present creations by Emilia Wickstead for Matchesfashion.com during the Australian Fashion Week at Wylie's Baths in Coogee, East Sydney. REUTERS/Edgar Su Reuters / Tuesday, May 15, 2018 Model present creations by Emilia Wickstead for Matchesfashion.com during the Australian Fashion Week at Wylie's Baths in Coogee, East Sydney. REUTERS/Edgar Su Close 16 / 24 Linda Dee Souza, 72, of Kalapana-Seaview, kisses one of her parrots at a Red Cross evacuation center in Pahoa during ongoing eruptions of the Kilauea Volcano in Hawaii. REUTERS/Terray Sylvester Reuters / Tuesday, May 15, 2018 Linda Dee Souza, 72, of Kalapana-Seaview, kisses one of her parrots at a Red Cross evacuation center in Pahoa during ongoing eruptions of the Kilauea Volcano in Hawaii. REUTERS/Terray Sylvester Close 17 / 24 A demonstrator with the phrase "Patria Libre o Morir" written on his body takes part in a protest Wednesday, May 16, 2018 A demonstrator with the phrase "Patria Libre o Morir" written on his body takes part in a protest 18 / 24 A worker cleans a Lionel Messi figure at a small factory in the outskirts of Shanghai, China. REUTERS/Aly Song Reuters / Tuesday, May 15, 2018 A worker cleans a Lionel Messi figure at a small factory in the outskirts of Shanghai, China. REUTERS/Aly Song Close 19 / 24 Kanwariyas, or devotees, carry metal pots filled with holy water after taking a dip in the waters of the Ganges River, to offer it to Lord Shiva for the betterment of their families and society, in Allahabad, India. REUTERS/Jitendra Prakash Reuters / Wednesday, May 16, 2018 Kanwariyas, or devotees, carry metal pots filled with holy water after taking a dip in the waters of the Ganges River, to offer it to Lord Shiva for the betterment of their families and society, in Allahabad, India. REUTERS/Jitendra Prakash Close 20 / 24 Russian opposition leader Alexei Navalny, who was detained at a recent protest called under the slogan "Putin is not our tsar", uses a smartphone as he attends a court hearing in Moscow. REUTERS/Tatyana Makeyeva Reuters / Tuesday, May 15, 2018 Russian opposition leader Alexei Navalny, who was detained at a recent protest called under the slogan "Putin is not our tsar", uses a smartphone as he attends a court hearing in Moscow. REUTERS/Tatyana Makeyeva Close 21 / 24 The mother of an injured Palestinian sits next to him as he lies on a bed at a hospital in Gaza City. REUTERS/Mohammed Salem Reuters / Tuesday, May 15, 2018 The mother of an injured Palestinian sits next to him as he lies on a bed at a hospital in Gaza City. REUTERS/Mohammed Salem Close 22 / 24 Security personnel uses a monocular while Venezuela's President Nicolas Maduro delivers his speech to supporters during a campaign rally in Charallave, Venezuela. REUTERS/Carlos Garcia Rawlins Reuters / Tuesday, May 15, 2018 Security personnel uses a monocular while Venezuela's President Nicolas Maduro delivers his speech to supporters during a campaign rally in Charallave, Venezuela. REUTERS/Carlos Garcia Rawlins Close 23 / 24 The son of one of the Egyptian Christians who were beheaded in Libya by Islamic State in 2015, touches his father's picture at a church in al-Our village south of Cairo, Egypt. REUTERS/Amr Abdallah Dalsh Reuters / Tuesday, May 15, 2018 The son of one of the Egyptian Christians who were beheaded in Libya by Islamic State in 2015, touches his father's picture at a church in al-Our village south of Cairo, Egypt. REUTERS/Amr Abdallah Dalsh Close

https://www.reuters.com/news/picture/editors-choice-pictures-idUSRTS1ROQ0

Janus Henderson Group plc reports first quarter 2018 diluted EPS of US$0.82, or US$0.71 on an adjusted basis

Strong investment performance across all time periods, with 79%, 68% and 84% of assets under management (“AUM”) outperforming benchmarks on a 1, 3 and 5 year basis, respectively, as at 31 March 2018 Net outflows of US$2.7 billion compared to US$2.9 billion in the fourth quarter 2017 AUM increased to US$371.9 billion, supported by positive market performance and favourable foreign exchange moves Achieved US$96 million of run rate net cost synergies, exceeding target, ahead of schedule Quarterly dividend increased 13% to US$0.36 per share LONDON--(BUSINESS WIRE)-- Janus Henderson Group plc (NYSE:JHG, ASX:JHG, “JHG” or “the Group”) published its first quarter results for the three month period ended 31 March 2018. First quarter 2018 net income attributable to JHG was US$165.2 million compared to US$471.7 million in the fourth quarter 2017 and US$42.6 million in the first quarter 2017. Adjusted net income attributable to JHG, adjusted for one-time non-cash and acquisition and transaction related costs, of US$143.6 million decreased 3% compared to US$147.9 million in the fourth quarter 2017 and improved 40% compared to US$102.3 million on a pro forma adjusted basis in the first quarter 2017. First quarter 2018 diluted earnings per share was US$0.82 compared to US$2.32 in the fourth quarter 2017 and US$0.38 in the first quarter 2017. Adjusted diluted earnings per share of US$0.71 decreased 3% compared to US$0.73 in the fourth quarter 2017 and improved 42% versus US$0.50 on a pro forma adjusted basis in the first quarter 2017. As at 31 March 2018, the Group had achieved US$96 million of annualised run rate pre-tax net cost synergies, inclusive of the impact from the expanded strategic relationship with BNP Paribas, which closed at the end of the first quarter. The Group continues to expect it will be able to realise recurring annual run rate pre-tax net cost synergies of at least US$125 million within three years post merger close. Andrew Formica and Dick Weil, co-Chief Executive Officers of Janus Henderson Group plc, said: “Against the backdrop of elevated market volatility, we are pleased to have maintained robust investment performance through the quarter. As an active asset manager, dynamics like those seen in the first quarter allow us to demonstrate our value to clients in helping them achieve their long-term financial goals. “As we approach our first anniversary as Janus Henderson, we are pleased with the pace of integration and that we have already exceeded our Year One target of US$90 million in run rate net cost synergies. We remain disciplined in our financial investment and focus on sustainable growth, and are delighted to announce an increase in the quarterly dividend, underlining the Board’s confidence in the future cash flow generating capabilities of our business”. The Group presents its financial results in US$ and in accordance with accounting principles generally accepted in the United States of America (“US GAAP” or “GAAP”). However, in the opinion of Management, the profitability of the Group and its ongoing operations is best evaluated using additional non-GAAP financial measures on a pro forma adjusted basis. See adjusted statements of income reconciliation for additional information. SUMMARY OF FINANCIAL RESULTS (unaudited) Three months ended 31 Mar 31 Dec 31 Mar (in US$ millions, except per share data or as noted) 2018 2017 2017 GAAP basis: Revenue 587.7 621.8 233.0 Operating expenses 411.5 425.2 182.2 Operating income 176.2 196.6 50.8 Operating margin 30.0 % 31.6 % 21.8% Net income attributable to JHG 165.2 471.7 42.6 Diluted earnings per share 0.82 2.32 0.38 Three months ended 31 Mar (in US$ millions, except per share data or as noted) 31 Mar 2018 31 Dec 2017 2017 (pro forma) Adjusted basis 1 : Revenue 470.4 505.3 406.0 Operating expenses 281.6 284.9 262.4 Operating income 188.8 220.4 143.6 Operating margin 40.1 % 43.6 % 35.4 % Net income attributable to JHG 143.6 147.9 102.3 Diluted earnings per share 0.71 0.73 0.50 As a result of revenue recognition accounting guidance that came into effect in 2018, the Group’s presentation of distribution expenses under US GAAP is now reported on a gross basis. As a consequence, the Group reclassified prior year amounts to conform to the 2018 presentation. The change in presentation does not affect the Group’s reporting on an adjusted basis as distribution expenses are netted against revenue. First quarter 2018 adjusted revenue of US$470.4 million decreased from the fourth quarter 2017 result of US$505.3 million due to lower performance fees. Management fees grew 1% with the increase in assets under management through the period partially offset by two fewer business days in the quarter. First quarter 2018 adjusted operating income of US$188.8 million decreased from US$220.4 million in the fourth quarter 2017, driven by lower performance fees. DIVIDEND On 8 May 2018, the Board of Directors of Janus Henderson Group (the “Board”) declared a first quarter dividend in respect of the three months ended 31 March 2018 of US$0.36 per share, a 13% increase from the previous level. Shareholders on the register on the record date of 21 May 2018 will be paid the dividend on 1 June 2018. Janus Henderson does not offer a dividend reinvestment plan. Net tangible assets/(liabilities) per share US$ 31 Mar 2018 31 Dec 2017 Net tangible assets/(liabilities) per ordinary share 0.86 0.68 Net tangible assets/(liabilities) are defined by the ASX as being total assets less intangible assets less total liabilities ranking ahead of, or equally with, claims of ordinary shares. 1 See adjusted statements of income reconciliation for additional information. AUM AND FLOWS AUM and flows for periods prior to and including second quarter 2017 present pro forma flows of Janus Henderson as if the merger had occurred at the beginning of the period shown. Total Group comparative AUM and flows Three months ended (in US$ billions) 31 Mar 2018 31 Dec 2017 31 Mar 2017 (pro forma) Opening AUM 370.8 360.5 319.2 Sales 19.7 20.0 19.4 Redemptions (22.4 ) (22.9 ) (26.4 ) Net sales/(redemptions) (2.7 ) (2.9 ) (7.0 ) Market/FX 3.8 13.2 18.6 Total AUM 371.9 370.8 330.8 First quarter 2018 AUM and flows by capability (in US$ billions) Equities Fixed Income Quantitative Equities Multi- Asset Alternatives Total 31 December 2017 189.7 80.1 49.9 31.6 19.5 370.8 Sales 9.9 5.3 1.7 1.3 1.5 19.7 Redemptions (11.7 ) (5.6 ) (1.4 ) (1.2 ) (2.5 ) (22.4 ) Net sales/(redemptions) (1.8 ) (0.3 ) 0.3 0.1 (1.0 ) (2.7 ) Market/FX 2.8 0.2 0.2 0.1 0.5 3.8 31 March 2018 190.7 80.0 50.4 31.8 19.0 371.9 Average AUM Three months ended (in US$ billions) 31 Mar 2018 31 Dec 2017 31 Mar 2017 (pro forma) Average AUM: Equities 194.6 185.9 159.2 Fixed Income 79.7 80.2 75.1 Quantitative Equities 51.4 49.7 48.0 Multi-Asset 32.1 30.9 28.4 Alternatives 19.6 19.4 17.4 Total 377.4 366.1 328.1 INVESTMENT PERFORMANCE % of AUM outperforming benchmark (as at 31 March 2018) Capability 1 year 3 years 5 years Equities 68 % 59 % 76 % Fixed Income 96 % 96 % 97 % Quantitative Equities 91 % 46 % 88 % Multi-Asset 83 % 87 % 90 % Alternatives 95 % 76 % 100 % Total 79 % 68 % 84 % % of mutual fund AUM in top 2 Morningstar quartiles (as at 31 March 2018) Capability 1 year 3 years 5 years Equities 64 % 62 % 82 % Fixed Income 48 % 32 % 62 % Quantitative Equities 57 % 55 % 51 % Multi-Asset 84 % 82 % 83 % Alternatives 53 % 53 % 53 % Total 63 % 59 % 76 % Note: Includes Janus Investment Fund, Janus Aspen Series and Clayton Street Trust (US Trusts), Janus Henderson Capital Funds (Dublin based), Dublin and UK OEIC and Investment Trusts, Luxembourg SICAVs and Australian Managed Investment Schemes. The top two Morningstar quartiles represent funds in the top half of their category based on total return. On an asset-weighted basis, 67% of total mutual fund AUM was in the top 2 Morningstar quartiles for the 10 year period ended 31 March 2018. For the 1, 3, 5 and 10 year periods ending 31 March 2018, 51%, 48%, 57% and 60% of the 216, 202, 181 and 132 total mutual funds were in the top 2 Morningstar quartiles, respectively. Analysis based on “primary” share class (Class I Shares, Institutional Shares or share class with longest history for US Trusts; Class A Shares or share class with longest history for Dublin based; primary share class as defined by Morningstar for other funds). Performance may vary by share class. ETFs and funds not ranked by Morningstar are excluded from the analysis. Capabilities defined by JHG. Data for periods prior to and including 2Q17 presents the pro forma assets as if the merger had occurred at the beginning of the period shown. © 2018 Morningstar, Inc. All Rights Reserved. 2018 FIRST QUARTER RESULTS: FORM 10-Q Janus Henderson will publish its 2018 first quarter Form 10-Q, as prescribed by the Securities and Exchange Commission (“SEC”) after market close in the United States on Wednesday 9 May 2018. 2018 SECOND QUARTER AND HALF YEAR RESULTS Janus Henderson intends to publish its 2018 second quarter and half year results on Wednesday 1 August 2018. FIRST QUARTER 2018 EARNINGS CALL INFORMATION Co-Chief Executive Officers, Andrew Formica, Dick Weil and Chief Financial Officer, Roger Thompson will present these results on 9 May 2018 on a conference call and webcast to be held at 1pm BST, 8am EDT, 10pm AEST. Those wishing to participate should call: United Kingdom 0800 404 7655 (toll free) US & Canada 888 471 3840 (toll free) Australia 1 800 093 472 (toll free) All other countries: +1 719 325 4763 (this is not a toll free number) Conference ID: 2331916 Access to the webcast and accompanying slides will be available via the investor relations section of Janus Henderson’s website ( www.janushenderson.com/IR ). About Janus Henderson Group plc Janus Henderson Group is a leading global active asset manager dedicated to helping investors achieve long-term financial goals through a broad range of investment solutions, including equities, fixed income, quantitative equities, multi-asset and alternative asset class strategies. As at 31 March 2018, Janus Henderson had approximately US$372 billion in AUM, more than 2,000 employees and offices in 27 cities worldwide. Headquartered in London, the company is listed on the New York Stock Exchange (NYSE) and the Australian Securities Exchange (ASX). FINANCIAL DISCLOSURES JANUS HENDERSON GROUP PLC CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three months ended (in US$ millions, except per share data or as noted) 31 Mar 2018 31 Dec 2017 31 Mar 2017 Revenue: Management fees 502.9 498.1 201.0 Performance fees (3.9 ) 33.5 14.8 Shareowner servicing fees 31.5 31.4 - Other revenue 57.2 58.8 17.2 Total revenue 587.7 621.8 233.0 Operating expenses: Employee compensation and benefits 146.7 172.6 70.4 Long-term incentive plans 40.0 36.2 16.4 Distribution expenses 117.3 116.5 50.6 Investment administration 11.4 12.2 10.2 Marketing 8.5 9.8 3.2 General, administrative and occupancy 72.2 55.6 25.1 Depreciation and amortisation 15.4 22.3 6.3 Total operating expenses 411.5 425.2 182.2 Operating income 176.2 196.6 50.8 Interest expense (3.8 ) (4.1 ) (1.1 ) Investment gains (losses), net (0.7 ) 3.0 (0.9 ) Other non-operating income (expenses), net 38.9 (9.0 ) 1.3 Income before taxes 210.6 186.5 50.1 Income tax provision (47.4 ) 285.6 (7.5 ) Net income 163.2 472.1 42.6 Net loss (income) attributable to noncontrolling interests 2.0 (0.4 ) - Net income attributable to JHG 165.2 471.7 42.6 Less: allocation of earnings to participating stock-based awards 4.2 12.9 0.9 Net income attributable to JHG common shareholders 161.0 458.8 41.7 Basic weighted-average shares outstanding (in millions) 195.9 196.3 109.2 Diluted weighted-average shares outstanding (in millions) 196.9 197.7 110.6 Diluted earnings per share (in US$) 0.82 2.32 0.38 Pro forma statements of income The table below reflects the US GAAP basis results for the three months ended 31 March 2018 and 31 December 2017 and the pro forma results of Janus Henderson for the three months ended 31 March 2017, as though the merger had taken place at the beginning of the period shown: Three months ended (in US$ millions) 31 Mar 2018 31 Dec 2017 31 Mar 2017 (pro forma) Revenue: Management fees 502.9 498.1 431.1 Performance fees (3.9 ) 33.5 1.0 Shareowner servicing fees 31.5 31.4 28.6 Other revenue 57.2 58.8 52.7 Total revenue 587.7 621.8 513.4 Operating expenses: Employee compensation and benefits 146.7 172.6 163.3 Long-term incentive compensation 40.0 36.2 34.5 Distribution expenses 117.3 116.5 107.4 Investment administration 11.4 12.2 10.2 Marketing 8.5 9.8 21.7 General, administrative and occupancy 72.2 55.6 56.0 Depreciation and amortisation 15.4 22.3 14.4 Total operating expenses 411.5 425.2 407.5 Operating income 176.2 196.6 105.9 Interest expense (3.8 ) (4.1 ) (4.8 ) Investment gains (losses), net (0.7 ) 3.0 0.5 Other non-operating income (expenses), net 38.9 (9.0 ) 2.4 Income before taxes 210.6 186.5 104.0 Income tax provision (47.4 ) 285.6 (28.2 ) Net income 163.2 472.1 75.8 Net income attributable to noncontrolling interests 2.0 (0.4 ) (1.4 ) Net income attributable to JHG 165.2 471.7 74.4 Adjusted statements of income The following are reconciliations of US GAAP basis and pro forma basis revenues, operating income, net income attributable to Janus Henderson and diluted earnings per share to adjusted revenues, adjusted operating income, adjusted net income attributable to Janus Henderson and adjusted diluted earnings per share. The results for the three months ended 31 March 2018 and 31 December 2017 reconcile US GAAP basis amounts to adjusted amounts while the three months ended 31 March 2017 reconcile pro forma amounts to adjusted amounts. Pro forma amounts are based on the combined results of Janus Henderson as though the merger had taken place at the beginning of the period shown: Three months ended (in US$ millions, except per share data or as noted) 31 Mar 2018 31 Dec 2017 31 Mar 2017 (pro forma) Reconciliation of revenue to adjusted revenue Revenue 587.7 621.8 513.4 Distribution expenses 1 (117.3 ) (116.5 ) (107.4 ) Adjusted revenue 470.4 505.3 406.0 Reconciliation of operating income to adjusted operating income Operating income 176.2 196.6 105.9 Employee compensation and benefits 2 2.9 9.6 3.6 Long term incentive plans 2 0.1 1.5 - Marketing 2 0.1 (0.7 ) 14.5 General, administration and occupancy 2 2.1 (0.7 ) 12.0 Depreciation and amortisation 3 7.4 14.1 7.6 Adjusted operating income 188.8 220.4 143.6 Operating margin 30.0 % 31.6 % 20.6 % Adjusted operating margin 40.1 % 43.6 % 35.4 % Reconciliation of net income attributable to JHG to adjusted net income attributable to JHG Net income attributable to JHG 165.2 471.7 74.4 Employee compensation and benefits 2 2.9 9.6 3.6 Long-term incentive plans 2 0.1 1.5 - Marketing 2 0.1 (0.7 ) 14.5 General, administration and occupancy 2 2.1 (0.7 ) 12.0 Depreciation and amortisation 2,3 7.4 14.1 7.6 Investment gains (losses), net - (3.1 ) - Interest expense 4 0.7 0.7 - Other non-operating income (expenses), net 4 (44.8 ) 11.0 0.9 Income tax provision 5 9.9 (356.2 ) (10.7 ) Adjusted net income attributable to JHG 143.6 147.9 102.3 Less: allocation of earnings to participating stock-based awards (3.6 ) (4.0 ) (3.0 ) Adjusted net income attributable to JHG common shareholders 140.0 143.9 99.3 Weighted average diluted common shares outstanding – diluted (two class) (in millions) 196.9 197.7 196.5 Diluted earnings per share (two class) (in US$) 0.82 2.32 0.36 Adjusted diluted earnings per share (two class) (in US$) 0.71 0.73 0.50 1 Distribution expenses are paid to financial intermediaries for the distribution of Janus Henderson’s investment products. Janus Henderson Management believes that the deduction of third-party distribution, service and advisory expenses from revenues in the computation of net revenue reflects the nature of these expenses as revenue-sharing activities, as these costs are passed through to external parties who perform functions on behalf of, and distribute, the Group’s managed AUM. 2 Adjustments primarily represent deal and integration costs in relation to the merger. These costs primarily represent severance costs, legal costs, consulting fees and the write down of legacy IT systems. Janus Henderson Management believes these costs do not represent the ongoing operations of the Group. 3 Investment management contracts have been identified as a separately identifiable intangible asset arising on the acquisition of subsidiaries and businesses. Such contracts are recognised at the net present value of the expected future cash flows arising from the contracts at the date of acquisition. For segregated mandate contracts, the intangible asset is amortised on a straight-line basis over the expected life of the contracts. Janus Henderson Management believes these non-cash and acquisition related costs do not represent the ongoing operations of the Group. 4 Adjustments primarily represent the gain on the sale of JHG’s back office (including fund administration and fund accounting), middle office and custody functions in the US to BNP Paribas, fair value movements on options issued to Dai-ichi, adjustments to debt expense as a result of the fair value uplift on debt due to acquisition accounting and deferred consideration costs associated with acquisitions prior to the merger. Janus Henderson Management believes these costs do not represent the ongoing operations of the Group. 5 The tax impact of the adjustments are calculated based on the US or foreign statutory tax rate as they relate to each adjustment. Certain adjustments are either not taxable or not tax deductible. Balance sheet JANUS HENDERSON GROUP PLC CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) 31 Mar 31 Dec (in US$ millions) 2018 2017 Assets Cash and cash equivalents 611.4 760.1 Investment securities 287.6 280.4 Property, equipment and software, net 69.4 70.6 Intangible assets and goodwill, net 4,754.1 4,738.7 Assets of consolidated variable interest entities 505.9 466.7 Other assets 875.6 956.2 Total assets 7,104.0 7,272.7 Liabilities, redeemable noncontrolling interests and equity Debt 330.8 379.2 Deferred tax liabilities, net 754.3 752.6 Liabilities of consolidated variable interest entities 21.8 21.5 Other liabilities 852.5 1,053.6 Redeemable noncontrolling interests 217.7 190.3 Total equity 4,926.9 4,875.5 Total liabilities, redeemable noncontrolling interests and equity 7,104.0 7,272.7 AUM Data for periods prior to and including second quarter 2017 present pro forma AUM and flows of JHG as if the merger had occurred at the beginning of the period shown. (in US$ billions) Equities Fixed Income Quantitative Equities Multi-Asset Alternatives Total 31 March 2017 (pro forma) 162.3 76.3 46.2 28.6 17.4 330.8 Sales 10.6 5.4 0.7 1.2 2.3 20.2 Redemptions 1 (9.4 ) (6.3 ) (2.5 ) (1.5 ) (1.5 ) (21.2 ) Net sales/(redemptions) 1.2 (0.9 ) (1.8 ) (0.3 ) 0.8 (1.0 ) Market/FX – (0.1 ) – – (0.6 ) (0.7 ) Acquisitions/(disposals) 9.9 1.9 2.1 1.1 0.8 15.8 30 June 2017 (pro forma) 173.4 77.2 46.5 29.4 18.4 344.9 Sales 9.6 5.3 0.7 0.9 1.8 18.3 Redemptions 1 (9.0 ) (4.9 ) (1.2 ) (1.2 ) (1.3 ) (17.6 ) Net sales/(redemptions) 0.6 0.4 (0.5 ) (0.3 ) 0.5 0.7 Market/FX 8.3 1.8 3.0 1.1 0.7 14.9 30 September 2017 182.3 79.4 49.0 30.2 19.6 360.5 Sales 10.8 5.2 0.7 1.1 2.2 20.0 Redemptions 1 (11.5 ) (5.0 ) (2.3 ) (1.3 ) (2.8 ) (22.9 ) Net sales/(redemptions) (0.7 ) 0.2 (1.6 ) (0.2 ) (0.6 ) (2.9 ) Market/FX 8.1 0.5 2.5 1.6 0.5 13.2 31 December 2017 189.7 80.1 49.9 31.6 19.5 370.8 Sales 9.9 5.3 1.7 1.3 1.5 19.7 Redemptions 1 (11.7 ) (5.6 ) (1.4 ) (1.2 ) (2.5 ) (22.4 ) Net sales/(redemptions) (1.8 ) (0.3 ) 0.3 0.1 (1.0 ) (2.7 ) Market/FX 2.8 0.2 0.2 0.1 0.5 3.8 31 March 2018 190.7 80.0 50.4 31.8 19.0 371.9

http://www.cnbc.com/2018/05/09/business-wire-janus-henderson-group-plc-reports-first-quarter-2018-diluted-eps-of-us0-point-82-or-us0-point-71-on-an-adjusted-basis.html

Trump will seek full funding soon for his border wall

May 16, 2018 / 8:39 PM / Updated 9 minutes ago Trump will seek full funding soon for his border wall Reuters Staff 1 Min Read WASHINGTON (Reuters) - President Donald Trump on Wednesday said he would soon push for full funding of his promised wall along the U.S. border with Mexico, which could spark budget battles in a Congress fractured over his immigration policy. U.S. President Donald Trump speaks while participating in a tour of U.S.-Mexico border wall prototypes near the Otay Mesa Port of Entry in San Diego, California. U.S., March 13, 2018. REUTERS/Kevin Lamarque “Now we’re going for the full funding for the wall, and we’re going to try and get that as soon as possible,” Trump said at a roundtable with California municipal leaders who favor his idea of making the U.S. border impervious to illegal immigration. Reporting by Lisa Lambert and James Oliphant; editing by Grant McCool

https://www.reuters.com/article/us-usa-immigration-trump-wall/trump-will-seek-full-funding-soon-for-his-border-wall-idUSKCN1IH2XC

Buffett's Berkshire Hathaway bought 75 million more Apple shares in first-quarter - CNBC

May 4, 2018 / 3:13 AM / Updated 7 minutes ago Buffett's Berkshire Hathaway bought 75 million more Apple shares in first quarter: CNBC Reuters Staff 1 Min Read (Reuters) - Berkshire Hathaway Inc ( BRKa.N ) bought 75 million additional Apple Inc ( AAPL.O ) shares in the first quarter, CEO Warren Buffett told CNBC on Thursday. FILE PHOTO - Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking “If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States.” CNBC quoted Buffett as saying. Berkshire said in February its Apple stake grew by about 23 percent since the end of September to roughly 165.3 million shares worth $28 billion. Berkshire Hathaway was not immediately available for comment. Apple did not immediately respond to a Reuters request for comment. Reporting by Philip George in Bengaluru; Editing by Amrutha Gayathri

https://uk.reuters.com/article/us-berkshire-buffet-apple/buffetts-berkshire-hathaway-bought-75-million-more-apple-shares-in-first-quarter-cnbc-idUKKBN1I506R

Emergent BioSolutions Reports First Quarter 2018 Financial Results

Reaffirms full year 2018 financial forecast and operational goals Provides Q2 2018 revenue forecast of $205M-$230M GAITHERSBURG, Md., May 03, 2018 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) reported financial results for the quarter and three months ended March 31, 2018. FINANCIAL HIGHLIGHTS (in millions, except per share value) Q1 2018 (unaudited) Q1 2017 (unaudited) Total Revenues $117.8 $116.9 Net Income (Loss) Net Income (Loss) Per Diluted Share (1) ($4.9) ($0.10) $10.5 $0.23 Adjusted Net Income (Loss) (2) Adjusted Net Income (Loss) Per Diluted Share (2) ($1.6) ($0.03) $14.3 $0.29 EBITDA (2) EBITDA Per Diluted Share (2) $3.1 $0.06 $25.4 $0.51 Q1 2018 AND RECENT BUSINESS ACCOMPLISHMENTS Procurement Contract Awarded a contract valued at up to $26 million over 12 months by the Centers for Disease Control and Prevention for the continued supply of VIGIV [Vaccinia Immune Globulin Intravenous (Human)] into the U.S. Strategic National Stockpile. VIGIV is the only therapeutic licensed by the U.S. Food and Drug Administration for the treatment of complications due to smallpox vaccination. Product Development Completed Mutual Recognition Procedure for market authorization of BioThrax ® (Anthrax Vaccine Adsorbed) in five Concerned Member States within the European Union – Italy, the Netherlands, Poland, the U.K. and France. Initiated, together with Valneva, a Phase 1 clinical trial in the U.S. to evaluate the safety and immunogenicity of VLA1601, our vaccine candidate against Zika virus, using Valneva’s validated expression platform. Initial data from this trial is expected in late 2018 or early 2019. Initiated a Phase 2 dose-ranging study to evaluate the safety, pharmacokinetics, and clinical benefit of FLU-IGIV, an anti-influenza immune globulin being developed as an intravenous treatment for serious illness caused by influenza A infection in hospitalized patients, and developed on the Company’s hyperimmune platform, on which several marketed antibody therapeutics have been licensed, including Anthrasil ® [Anthrax Immune Globulin Intravenous (human)] and VIGIV. The clinical study will continue to enroll patients through the next influenza season and is expected to be completed in 2019. 2018 FINANCIAL PERFORMANCE (I) Quarter Ended March 31, 2018 (Unaudited) Revenues Total Revenues For Q1 2018, total revenues were $117.8 million, a slight increase over 2017. Total revenues reflect a delay in the timing of BioThrax deliveries as previously disclosed by the Company on February 22, 2018. In addition, Q1 2018 total revenues were impacted by the delay in the delivery of some ACAM2000 ® , (Smallpox (Vaccinia) Vaccine Live) shipments during the quarter. The Company has commenced delivery and expects to complete all delayed Q1 deliveries by the end of the second quarter. Product Sales For Q1 2018, product sales were $75.8 million, a decrease of 8% as compared to 2017. The decrease is principally attributable to lower BAT ® [Botulism Antitoxin Heptavalent (A, B, C, D, E, F, G) - (Equine)] and BioThrax ® sales, partially offset by an increase in other product sales, principally attributable to sales of ACAM2000 ® and Raxibacumab (Anthrax Monoclonal Antibody), both of which were acquired in Q4 2017. (in millions) (unaudited) Three Months Ended March 31, 2018 2017 % Change Product Sales BioThrax ® $20.2 $43.8 (54%) Other 55.6 38.2 46% Total Product Sales $75.8 $82.0 (8%) Contract Manufacturing For Q1 2018, revenue from the Company’s contract manufacturing operations was $26.1 million, an increase of 48% as compared to 2017. The increase primarily reflects the completion of a milestone related to the expansion of certain contract manufacturing capabilities at the Company’s Lansing site. Contracts and Grants For Q1 2018, contracts and grants revenue was $15.9 million, a decrease of 8% as compared to 2017. The decrease primarily reflects a reduction in revenue associated with the successful completion of multiple U.S. government development contracts as well as reduced R&D activities related to certain ongoing funded development programs. Operating Expenses Cost of Product Sales and Contract Manufacturing For Q1 2018, cost of product sales and contract manufacturing was $58.0 million, an increase of 25% as compared to 2017. The increase is primarily attributable to sales of ACAM2000 and Raxibacumab, both of which were acquired in Q4 2017, partially offset by lower sales of BAT and BioThrax. Research and Development (Gross and Net) For Q1 2018, gross R&D expenses were $29.1 million, an increase of 42% as compared to 2017. The increase primarily reflects increased contract development services performed for NuThrax TM (anthrax vaccine adsorbed with CPG 7909 adjuvant) and the introduction of costs associated with development work related to the technology transfer of the Raxibacumab manufacturing process to the Company’s Bayview manufacturing site in Baltimore. For Q1 2018, net R&D expense (calculated as gross research and development expenses minus contracts and grants revenue) was $13.2 million, an increase of $10 million as compared to 2017, reflecting increased investment in countermeasure development programs not currently funded in whole or in part by third-party partners, notably costs associated with the Raxibacumab technology transfer, the FLU-IGIV flu therapeutic Phase 2 trial, the ZIKV-IG Zika therapeutic Phase 1 trial preparations, and the UNI-FLU universal flu vaccine preclinical effort, among others. (in millions) (unaudited) Three Months Ended March 31, 2018 2017 % Change Research and Development Expenses $29.1 $20.5 42% Adjustments: - Contracts and grants revenue $15.9 $17.3 (8%) Net Research and Development Expenses $13.2 $3.2 313% Selling, General and Administrative For Q1 2018, selling, general and administrative expenses were $40.2 million, an increase of $5 million as compared to 2017, attributable primarily to increased stock compensation and professional services costs. Income Taxes For Q1 2018, the tax benefit in the amount of $4.5 million includes a discrete benefit of $2.3 million related to stock compensation activity resulting in an effective tax rate of 48%. Excluding the discrete benefit, the Q1 2018 effective tax rate was 24%. Net Income (Loss) & Adjusted Net Income (Loss) For Q1 2018, the Company recorded a net loss of $4.9 million, or $0.10 per diluted share, versus net income of $10.5 million, or $0.23 per diluted share, in 2017. (1) For Q1 2018, the Company recorded an adjusted net loss of $1.6 million, or $0.03 per diluted share, versus net income of $14.3 million, or $0.29 per diluted share, in 2017. (1) (2) 2018 FINANCIAL FORECAST & OPERATIONAL GOALS The Company is reaffirming its full year 2018 financial performance forecast: Total Revenue $715 million to $755 million Pre-Tax Income $120 million to $140 million Net Income (3) $95 million to $110 million Adjusted Net Income (2) (3) $110 million to $125 million EBITDA (2) (3) $175 million to $190 million The Company is also reaffirming its full year 2018 operational goals: Advance NuThrax development to enable Emergency Use Authorization filing with the FDA in 2018 Complete ACAM2000 deliveries; establish a multi-year follow-on contract with the U.S. government Deliver Raxibacumab doses under current contract; advance technology transfer to the Company’s Bayview facility in Baltimore, Maryland Progress pipeline to have at least four product candidates in advanced development Complete an acquisition that generates revenue within 12 months of closing Q2 2018 FINANCIAL FORECAST The Company forecast for Q2 2018 total revenue is $205 million to $230 million. This forecast reflects the deliveries of BioThrax and ACAM2000 previously expected in the first quarter as well as continued deliveries of both products in the second quarter. FOOTNOTES (1) See “Calculation of Diluted Earnings Per Share.” (2) See “Reconciliation of Net Income to Adjusted Net Income and EBITDA” for a definition of terms and a reconciliation table. (3) Reflects an estimated tax rate that includes the expected effects of the United States Tax Cuts and Jobs Act of 2017 on the Company’s 2018 income tax provision. (4) “Net revenue” is computed as Total Revenue minus Contracts & Grants Revenue. CONFERENCE CALL AND WEBCAST INFORMATION Company management will host a conference call at 5:00 pm (Eastern Time) today, May 3, 2018, to discuss these financial results. This conference call can be accessed live by telephone or through Emergent’s website: Live Teleconference Information : Dial in: [US] (855) 766-6521 ; [International] (262) 912-6157 Conference ID: 93329114 Live Webcast Information : Visit https://edge.media-server.com/m6/p/gyy8ca3t for the live webcast feed. A replay of the call can be accessed at www.emergentbiosolutions.com under “ Investors .” ABOUT EMERGENT BIOSOLUTIONS INC. Emergent BioSolutions Inc. is a global life sciences company seeking to protect and enhance life by focusing on providing specialty products for civilian and military populations that address accidental, intentional, and naturally occurring public health threats. Through our work, we envision protecting and enhancing 50 million lives with our products by 2025. Additional information about the company may be found at www.emergentbiosolutions.com . Follow us on Twitter @emergentbiosolu and Instagram @life_at_emergent. SAFE HARBOR STATEMENT This press release includes within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, our financial guidance, and any other statements containing the words "will," "believes," "expects," "anticipates," "intends," "plans," "targets," "forecasts," "estimates" and similar expressions in conjunction with, among other things, discussions of the Company's outlook, financial performance or financial condition, financial and operation goals, strategic goals, growth strategy, acquisition strategy, product sales, government development or procurement contracts or awards, government appropriations, manufacturing capabilities, product development and delivery timeline, and Emergency Use Authorization (EUA) and the timing of other regulatory approvals or expenditures are . These are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated by such , including the availability of funding and the exercise of options under our BioThrax and NuThrax contracts; appropriations for the procurement of our products; our ability to secure EUA pre-authorization approval and licensure of NuThrax from the FDA within the anticipated timeframe, if at all; availability of funding for our U.S. government grants and contracts; our ability to complete expected deliveries of BioThrax and ACAM2000 by the end of the second quarter; our ability to identify and acquire or in-license products or product candidates that satisfy our selection criteria; our ability to successfully integrate and develop the products or product candidates, programs, operations and personnel of any entities, businesses or products that we acquire, including our acquisitions of the ACAM2000 business from Sanofi Pasteur Biologics, LLC and Raxibacumab from GlaxoSmithKline LLC and the timing and receipt of required FDA approvals for remaining actions contemplated in connection with our integration of these acquisitions; whether anticipated synergies and benefits from an acquisition or in-license are realized within expected time periods, if at all; our ability to utilize our manufacturing facilities and expand our capabilities; our ability and the ability of our contractors and suppliers to maintain compliance with Current Good Manufacturing Practices and other regulatory obligations; the results of regulatory inspections; the outcome of the purported class action lawsuit filed against us and possible other future material legal proceedings; the success of our ongoing and planned development programs; the timing and results of clinical trials; the timing of and our ability to obtain and maintain regulatory approvals for our product candidates; and our commercialization, marketing and manufacturing capabilities and strategy. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the Securities and Exchange Commission, when evaluating our . Investor Contact Robert Burrows Vice President, Investor Relations (o) 240/631-3280; (m) 240/413-1917 burrowsr@ebsi.com Media Contact Lynn Kieffer Vice President, Corporate Communications (o) 240/631-3391 kiefferl@ebsi.com FINANCIAL STATEMENTS FOLLOW Emergent BioSolutions Inc. and Subsidiaries Consolidated Balance Sheets (in thousands, except share and per share data) March 31, 2018 December 31, 2017 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 163,606 $ 178,292 Restricted cash 1,043 1,043 Accounts receivable 122,090 143,653 Inventories 155,196 142,812 Income tax receivable, net 7,044 2,432 Prepaid expenses and other current assets 27,670 17,157 Total current assets 476,649 485,389 Property, plant and equipment, net 411,269 407,210 Intangible assets, net 115,685 119,597 Goodwill 49,130 49,130 Deferred tax assets, net 12,656 2,834 Other assets 3,078 6,046 Total assets $ 1,068,467 $ 1,070,206 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 46,216 $ 41,751 Accrued expenses and other current liabilities 6,840 4,831 Accrued compensation 24,513 37,882 Contingent consideration, current portion 2,337 2,372 Deferred revenue, current portion 6,964 13,232 Total current liabilities 86,870 100,068 Contingent consideration, net of current portion 10,133 9,902 Long-term indebtedness 13,469 13,457 Income taxes payable, net of current 12,500 12,500 Deferred revenue, net of current portion (1) 59,365 17,259 Other liabilities 4,850 4,675 Total liabilities 187,187 157,861 Stockholders’ equity: Preferred stock, $0.001 par value; 15,000,000 shares authorized, 0 shares issued and outstanding at both March 31, 2018 and December 31, 2017 - - Common stock, $0.001 par value; 200,000,000 shares authorized, 51,025,978 shares issued and 49,808,692 shares outstanding at March 31, 2018; 50,619,808 shares issued and 49,405,365 shares outstanding at December 31, 2017 50 50 Treasury stock, at cost, 1,217,286 and 1,214,443 common shares at March 31, 2018 and December 31, 2017, respectively (39,642 ) (39,497 ) Additional paid-in capital 624,484 618,416 Accumulated other comprehensive loss (3,251 ) (3,698 ) Retained earnings (2) 299,639 337,074 Total stockholders’ equity 881,280 912,345 Total liabilities and stockholders’ equity $ 1,068,467 $ 1,070,206 (1) The change in deferred revenue from December 31, 2017 to March 31, 2018 includes the impact of a $42.4 million increase related to the adoption of a new revenue recognition accounting standard effective January 1, 2018. (2) The change in retained earnings from December 31, 2017 to March 31, 2018 includes the impact of a $32.5 million, net of tax, reduction related to the adoption of a new revenue recognition accounting standard effective January 1, 2018. Emergent BioSolutions Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except share and per share data) Three Months Ended March 31, 2018 2017 (Unaudited) Revenues: Product sales $ 75,771 $ 81,969 Contract manufacturing 26,178 17,628 Contracts and grants 15,865 17,261 Total revenues 117,814 116,858 Operating expenses: Cost of product sales and contract manufacturing 58,044 46,322 Research and development 29,051 20,476 Selling, general and administrative 40,204 35,150 Income (loss) from operations (9,485 ) 14,910 Other income (expense): Interest income 222 373 Interest expense (234 ) (1,938 ) Other income, net 74 300 Total other income (expense), net 62 (1,265 ) Income (loss) before provision for (benefit from) income taxes (9,423 ) 13,645 Provision for (benefit from) income taxes (4,515 ) 3,160 Net income (loss) $ (4,908 ) $ 10,485 Net income (loss) per share - basic $ (0.10 ) $ 0.26 Net income (loss) per share - diluted (1) $ (0.10 ) $ 0.23 Weighted-average number of shares - basic 49,580,089 40,727,755 Weighted-average number of shares - diluted 49,580,089 49,718,426 CALCULATION OF DILUTED EARNINGS PER SHARE Net income (loss) per diluted share is computed using the “if-converted” method for the three months ended March 31, 2017. Such a method only applies to results prior to November 14, 2017, the date the Company terminated conversion rights associated with the 2.875% Convertible Senior Notes due 2021 (the Notes). This method requires net income to be adjusted to add back interest expense and amortization of debt issuance cost, both net of tax, associated with the Notes. For the three months ended March 31, 2018, Net income (loss) per diluted share was calculated using the “treasury method.” The following table details the adjustments made in this calculation. (in millions, except per share value) (unaudited) Three Months Ended March 31, 2018 2017 Net Income (Loss) ($4.9) $10.5 Adjustments: + Interest expense, net of tax -- 0.9 + Amortization of debt issuance costs, net of tax -- 0.2 Net Income (Loss), adjusted (“if converted”) Net Income (Loss) Per Diluted Share, adjusted (“if converted”) ($4.9) ($0.10) $11.6 $0.23 Weighted Average Diluted Shares 49.6 49.7 RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED NET INCOME AND EBITDA This press release contains two financial measures (Adjusted Net Income (Loss) and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)) that are considered “non-GAAP” financial measures under applicable Securities and Exchange Commission rules and regulations. These non-GAAP financial measures should be considered supplemental to and not a substitute for financial information prepared in accordance with generally accepted accounting principles. The Company’s definition of these non-GAAP measures may differ from similarly titled measures used by others. Adjusted Net Income adjusts for specified items that can be highly variable or difficult to predict, or reflect the non-cash impact of charges resulting from purchase accounting. EBITDA reflects net income excluding the impact of depreciation, amortization, interest expense and provision for income taxes. The Company views these non-GAAP financial measures as a means to facilitate management’s financial and operational decision-making, including evaluation of the Company’s historical operating results and comparison to competitors’ operating results. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company’s operations that, when viewed with GAAP results and the reconciliations to the corresponding GAAP financial measure, may provide a more complete understanding of factors and trends affecting the Company’s business. The determination of the amounts that are excluded from these non-GAAP financial measures are a matter of management judgment and depend upon, among other factors, the nature of the underlying expense or income amounts. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company’s reported results of operations, management strongly encourages investors to review the Company’s consolidated financial statements and publicly filed reports in their entirety. Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) (Unaudited) (in millions, except per share value) Three Months Ended March 31, 2018 2017 Source Net Income (Loss) ($4.9) $10.5 N/A Adjustments: + Acquisition-related costs (transaction & integration) 0.2 0.6 SG&A + Non-cash amortization charges 4.0 1.9 COGS, SG&A, Other Income + Exit and disposal costs -- 1.4 SG&A + Impact of purchase accounting on inventory step-up -- 1.8 COGS Tax effect (0.9) (2.0) Total Adjustments: 3.3 3.7 Adjusted Net Income (Loss) Adjusted Net Income (Loss) Per Diluted Share ($1.6) ($0.03) $14.2 $0.29 Reconciliation of Net Income (Loss) to EBITDA (Unaudited) (in millions, except per share value) Three Months Ended March 31, 2018 2017 Net Income (Loss) ($4.9) $10.5 Adjustments: + Depreciation & Amortization 12.3 9.8 + Provision for (Benefit from) Income Taxes (4.5) 3.2 + Total Interest Expense 0.2 1.9 Total Adjustments 8.0 14.9 EBITDA EBITDA per Diluted Share $3.1 $0.06 $25.4 $0.51 Source:Emergent BioSolutions

http://www.cnbc.com/2018/05/03/globe-newswire-emergent-biosolutions-reports-first-quarter-2018-financial-results.html

OHA Investment Corporation Announces First Quarter 2018 Results

NEW YORK, May 14, 2018 (GLOBE NEWSWIRE) -- OHA Investment Corporation (NASDAQ:OHAI) (the “Company”) today announced its financial results for the quarter ended March 31, 2018. Management will discuss the Company's results summarized below on a conference call on Tuesday, May 15, 2018, at 10:00 a.m.(Eastern Time). Summary results for the quarter ended March 31, 2018: Total investment income: $2.3 million, or $0.11 per share Net investment loss: $(0.1) million, or $(0.01) per share Net realized and unrealized gains: $1.8 million, or $0.09 per share Net asset value: $49.1 million, or $2.43 per share New portfolio investments added during the quarter: $10.9 million (par value) Fair value of portfolio investments: $65.0 million Portfolio Activity The fair value of our investment portfolio was $65.0 million at March 31, 2018, increasing 0.2% compared to December 31, 2017. In the first quarter of 2018, the Company added investments in six new portfolio companies, investing $10.8 million, and had realizations totaling $13.6 million. During the quarter, our energy exposure in our investment portfolio was reduced to 0% as of the result of the redemption of our $11.5 million investment in the Talos senior unsecured notes at par in February. The current weighted average yield of our portfolio based on the cost and fair value of our yielding investments was 13.6% and 14.1%, respectively, as of March 31, 2018. In January 2018, we purchased $0.7 million of second lien term loan in Safe Fleet, a provider of safety products for fleet vehicles worldwide. The Safe Fleet second lien term loan was purchased at a 0.50% discount to par, earns interest payable in cash at a rate of LIBOR+6.75% with a 1% floor, and matures in February 2026. Also in January 2018, we purchased $0.5 million of second lien term loan in MedRisk LLC., or MedRisk, a leading provider of managed care services for the workers' compensation industry and related market sectors. The MedRisk second lien term loan was purchased at a 0.50% discount to par, earns interest payable in cash at a rate of LIBOR+6.75%, and matures in December 2025. In February 2018, our remaining position in Talos of $11.5 million was redeemed at par. This legacy energy investment was initiated in February 2013, generated a gross unlevered internal rate of return of 9.95%, and a return on investment of 1.30x. Also in February 2018, we added $5.0 million of second lien term loan in CVS Holdings, I, LP., or MyEyeDr., a provider of vision care services, prescription eyeglasses and sunglasses, and contact lenses. The MyEyeDr. second lien term loan was purchased at a 0.50% discount to par, earns interest payable in cash at a rate of LIBOR+6.75% with a 1% floor, and matures in February 2026. Also in February 2018, we purchased $0.3 million of second lien term loan in EaglePicher Technologies LLC., or EaglePicher, a leading provider of mission-critical power solutions for high-value applications within the defense, aerospace, and medical end-markets. The EaglePicher second lien term loan was purchased at a 0.75% discount to par, earns interest payable in cash at a rate of LIBOR+7.25%, and matures in March 2026. In March 2018, we purchased $1.25 million of second lien term loan in AlliedUniversal HoldCo LLC., or AlliedUniversal, a provider of contract security services in the United States. The AlliedUniversal second lien term loan was purchased at par, earns interest payable in cash at a rate of LIBOR+8.50% with a 1% floor and matures in July 2023. Also in March 2018, we purchased $1.6 million of first lien last out revolver and $0.5 million of first lien last out term loan to CC Dental Implants Intermediate, or ClearChoice, a provider of full-mouth dental restoration and dental implant services throughout the United States. The ClearChoice first lien last out revolver and term loan were purchased at a 1% discount to par, earn interest of LIBOR+6.50% with 1% floor, and mature in January 2023. At March 31, 2018, the funded portion balance of the ClearChoice revolver was $0.6 million. Both the first lien last out revolver and term loan are entitled to skim interest on the first lien first out term loan which will initially increase the interest rate spread by approximately 28 basis points. Operating Results Investment income totaled $2.3 million for the first quarter of 2018, decreasing 7.0% compared to $2.5 million in the corresponding quarter of 2017. The decrease was primarily attributable to a decrease in investment income due to a lower average portfolio balance partially offset by a higher weighted average yield on our investments 2018 compared to the three months ended March 31, 2017. Operating expenses for the first quarter of 2018 were $2.4 million, an increase of $0.1 million, or 5.1%, compared to operating expenses for the first quarter of 2017. Interest expense and bank fees decreased by 15.5% to $0.8 million from $1.0 million compared to the same period in the prior year largely due to lower principal balance due to a partial repayment in December 2017. Management fees decreased by 29.8% to $0.4 million from $0.6 million due to lower base management fees as a result of lower average asset base subject to the base management fee. Professional fees increased by 137.3% to $0.6 million from $0.3 million primarily due to an increase in legal fees. Other general and administrative expenses decreased by 3.1% to $0.4 million from $0.4 million primarily due to a decrease in employee related expenses compared to the three months ended March 31, 2017. The resulting net investment loss was $(0.1) million or $(0.01) per share, for the first quarter of 2018, compared to $0.2 million, or $0.01 per share, for the first quarter of 2017. The decrease in net investment income was driven by lower investment income and an increase in legal fees. We recorded net realized and unrealized gain on investments totaling $1.8 million or $0.09 per share, for the first quarter of 2018, compared to $19.3 million loss, or $(0.96) per share, for the first quarter of 2017. A significant portion of the loss recognized in the first quarter of 2017 was the $21.2 million write-down in Castex, a legacy energy portfolio investment. Overall, we experienced a net increase in net assets resulting from operations of $1.7 million, or $0.08 per share, for the first quarter of 2018. After declaring a quarterly dividend during the period of $0.02 per share, our net asset value increased 2.5% from $2.37 per share as of December 31, 2017 to $2.43 per share as of March 31, 2018. Liquidity and Capital Resources At March 31, 2018, we had cash and cash equivalents totaling $22.2 million. The total amount outstanding under our credit facility at March 31, 2018 was $36.0 million with $0.0 million available to draw. On February 2, 2018, we exercised the option to extend the Credit Facility to September 9, 2018, as permitted in our existing Credit Agreement. On May 7, 2018, the Company's Board of Directors declared a quarterly distribution of $0.02 per share, payable on July 9, 2018 to holders of record as of June 30, 2018. Additional Disclosure Investments are considered to be fully realized when the original investment at the security level has been fully exited. Internal rate of return, or IRR, is a measure of our discounted cash flows (inflows and outflows). Specifically, IRR is the discount rate at which the net present value of all cash flows is equal to zero. That is, IRR is the discount rate at which the present value of total capital invested in our investments is equal to the present value of all realized returns from the investments. Our IRR calculations are unaudited. Capital invested, with respect to an investment, represents the aggregate cost of the investment, net of any upfront fees paid at closing. Realized returns, with respect to an investment, represents the total cash received with respect to an investment, including all amortization payments, interest, dividends, prepayment fees, administrative fees, amendment fees, accrued interest, and other fees and proceeds. Gross IRR, with respect to an investment, is calculated based on the dates that we invested capital and dates we received distributions. Gross IRR reflects historical results relating to our past performance and is not necessarily indicative of our future results. In addition, gross IRR does not reflect the effect of management fees, expenses, incentive fees or taxes borne, or to be borne, by us or our stockholders, and would be lower if it did. Webcast / Conference Call at 10:00 a.m. Eastern Time on May 15, 2018 We invite all interested persons to participate in our conference call on Tuesday, May 15, 2018, at 10:00 a.m. (Eastern Time). The dial-in number for the call is (877) 303-7617. International callers can access the conference by dialing (760) 666-3609. Conference ID is 7459767. Callers are encouraged to dial in at least 5-10 minutes prior to the call. The presentation materials for the call will be accessible on the Investor Relations page of the Company’s website at www.ohainvestmentcorporation.com . OHA INVESTMENT CORPORATION CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) March 31, 2018 December 31, 2017 (unaudited) Assets Investments in portfolio securities at fair value Affiliate investments (cost: $24,267 and $23,263, respectively) $ 18,177 $ 18,179 Non-affiliate investments (cost: $129,681 and $132,429, respectively) 46,863 46,751 Total portfolio investments (cost: $153,948 and $155,692, respectively) 65,040 64,930 Investments in U.S. Treasury Bills at fair value (cost: $14,996 and $19,994, respectively) 14,996 19,994 Total investments 80,036 84,924 Cash and cash equivalents 22,235 19,939 Accounts receivable and other current assets 6 — Interest receivable 457 632 Due from broker 103 — Other prepaid assets 11 21 Deferred tax asset 591 632 Total current assets 23,403 21,224 Total assets $ 103,439 $ 106,148 Liabilities Current liabilities Distributions payable $ 403 $ 403 Accounts payable and accrued expenses 1,682 1,585 Due to broker 1,250 — Due to affiliate 96 562 Management and incentive fees payable 400 426 Income taxes payable 30 24 Repurchase agreement 14,695 19,592 Short-term debt, net of debt issuance costs 35,783 35,785 Total current liabilities 54,339 58,377 Long-term debt, net of debt issuance costs — — Total liabilities 54,339 58,377 Commitments and contingencies Net assets Common stock, $.001 par value, 250,000,000 shares authorized; 20,172,392 and 20,172,392 shares issued and outstanding, respectively 20 20 Paid-in capital in excess of par 234,553 234,553 Undistributed net investment loss (2,611 ) (2,113 ) Undistributed net realized capital loss (97,072 ) (97,043 ) Net unrealized depreciation on investments (85,790 ) (87,646 ) Total net assets 49,100 47,771 Total liabilities and net assets $ 103,439 $ 106,148 Net asset value per share $ 2.43 $ 2.37 OHA INVESTMENT CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) For the three months ended March 31, 2018 2017 Investment income: Interest income: Interest income $ 2,228 $ 2,404 Dividend income — — Money market interest 49 — Other income 6 51 Total investment income 2,283 2,455 Operating expenses: Interest expense and bank fees 823 974 Management fees 400 570 Incentive fees 1 — Costs related to strategic alternatives review 75 — Professional fees 643 271 Other general and administrative expenses 370 382 Director fees 61 61 Total operating expenses 2,373 2,258 Waived incentive fees (1 ) — Income tax provision, net 6 4 Net investment income (loss) (95 ) 193 Net realized capital gain (loss) on investments, net of tax (29 ) 95 Total net realized capital gain (loss) on investments (29 ) 95 Net unrealized appreciation (depreciation) on investments, net of tax 1,856 (19,379 ) Total net unrealized appreciation (depreciation) on investments 1,856 (19,379 ) Net increase (decrease) in net assets resulting from operations $ 1,732 $ (19,091 ) Net increase (decrease) in net assets resulting from operations per common share $ 0.08 $ (0.95 ) Distributions declared per common share $ 0.02 $ 0.02 Weighted average shares outstanding - basic and diluted 20,172 20,172 Per Share Data Net asset value, beginning of period $ 2.37 $ 3.99 Net investment income (0.01 ) 0.01 Net realized and unrealized loss on investments 0.09 (0.96 ) Net increase (decrease) in net assets resulting from operations 0.08 (0.95 ) Distributions to common stockholders Distributions from net investment income (0.02 ) (0.02 ) Net decrease in net assets from distributions (0.02 ) (0.02 ) Net asset value, end of period $ 2.43 $ 3.02 About OHA Investment Corporation OHA Investment Corporation (NASDAQ:OHAI) is a specialty finance company designed to provide its investors with current income and capital appreciation. OHAI focuses primarily on providing creative direct lending solutions to middle market private companies across industry sectors. OHAI is externally managed by Oak Hill Advisors, L.P., a leading independent investment firm ( www.oakhilladvisors.com ). Oak Hill Advisors has deep experience in direct lending, having invested over $5 billion in over 140 direct lending investments over the past 15 years. Forward-Looking Statements This press release may contain . We may use words such as "anticipates," "believes," "intends," "plans," "expects," "projects," "estimates," "will," "should," "may" and similar expressions to identify . These are subject to various risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with the timing or likelihood of transaction closings, changes in interest rates, availability of transactions, the future operating results of our portfolio companies, regulatory factors, changes in regional or national economic conditions and their impact on the industries in which we invest, other changes in the conditions of the industries in which we invest and other factors enumerated in our filings with the Securities and Exchange Commission (the "SEC"). You should not place undue reliance on such , which speak only as of the date they are made. We undertake no obligation to update our made herein, unless required by law. CONTACTS: Steven T. Wayne – President and Chief Executive Officer Cory E. Gilbert – Lisa R. Price - Chief Compliance Officer OHAICInvestorRelations@oakhilladvisors.com For media inquiries, contact Kekst and Company, (212) 521-4800 Jeremy Fielding – Jeremy.Fielding@kekst.com Aduke Thelwell – Aduke.Thelwell@kekst.com Source:OHA Investment Corporation

http://www.cnbc.com/2018/05/14/globe-newswire-oha-investment-corporation-announcesafirst-quarter-2018-results.html

Seattle to Business: Drop Dead

100 COMMENTS Twenty cities are competing for Amazon’s second headquarters. Then there’s Seattle, Amazon’s current headquarters, which the city apparently wouldn’t mind driving away. Seattle’s city council on Monday unanimously approved a $250 “tax” per full-time employee on businesses with more than $20 million in annual revenue. Progressive council members had originally proposed a $500 jobs tax that would have turned into a 0.7% payroll tax in 2021, but then Seattle’s businesses revolted. Amazon suspended two building expansion projects. More than 100 large businesses including Expedia , Alaska Airlines and Redbox wrote a letter warning that the tax sends the message “to every business: if you are investing in growth, if you create too many jobs in Seattle, you will be punished,” which “will cause far greater damage to Seattle’s growth prospects than the direct impact on the businesses being taxed.” Three hundred or so small businesses also warned that “continuing tax increases and regulations will only hurt the small business community and will vastly change our city.” Even trade unions begged the council “not to tax our jobs away.” Foreign Edition Podcast Foreign Edition podcast: Iraq’s election and the risk that Baghdad will tip toward Tehran. Foreign Edition Podcast After the council scaled back the head tax, Amazon said it plans to resume work on one of its expansion projects, but a spokesperson noted that “we remain very apprehensive about the future created by the council’s hostile approach and rhetoric toward larger businesses, which forces us to question our growth here.” The head tax is merely the city council’s latest depredation against business. In 2015 the council allowed Uber drivers, who are independent contractors, to collectively bargain. A Ninth Circuit Court of Appeals panel on Friday declared that the ordinance violates antitrust laws. The council last year imposed a 2.25% income tax on high earners, which a state court has blocked. Many businesses have located and expanded in Seattle because Washington state doesn’t impose an income tax. Last year Washington’s GDP growth led the country at 4.4%. But Seattle’s city council seems to think this growth will continue no matter what it does. Ask Connecticut how that turns out. Liberals are bashing Amazon for wielding its political and economic clout to blunt a tax hike that would hurt all Seattle businesses and workers. Local leaders from Chicago, Denver, Dallas and Austin, among other cities, wrote a letter denouncing Amazon for “threatening Seattle over this tax.” Amazon should cross these cities off its second-headquarter list. Seattle businesses deserve credit for promoting a pro-growth climate rather than seeking special treatment for themselves. Companies in Illinois, Connecticut and New Jersey have threatened to bolt to obtain lucrative tax subsidies. Businesses in those states would be better off if they collectively bargained with politicians for lower taxes and more favorable regulatory conditions.

https://www.wsj.com/articles/seattle-to-business-drop-dead-1526425379

One Korea: Mark Mobius calls idea of reunification ‘beautiful’

Prominent emerging markets investor Mark Mobius said he would "definitely" be interested in putting money into North Korea if he could. South and North Korea is a "beautiful combination," he told CNBC's "Street Signs" on Monday. "The South has technology, it has the know-how, it has the manufacturing ability and the North has resources," he said of the "reunification play." Even though any reunification between South and North Korea will come at a huge cost, it will be "very, very beneficial from a longer point of view," said Mobius, founding partner at Mobius Capital Partners. show chapters Mark Mobius would invest in North Korea if he could 13 Hours Ago | 00:45 "People who go in at the beginning in North Korea, given this combination of North and South, should do very well," he added. Mobius' comments come ahead of a meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un in Singapore on June 12. Relations between the two countries had been tumultuous in the last year amid heated insults, against the backdrop of Pyongyang's frequent missile launches. However, recent developments on the Korean peninsula have ignited hopes of peace — and new investment opportunities — in the region. Kim in late April became the first North Korean leader to cross the border into South Korean territory since 1953, as he met with President Moon Jae-in. The two pledged to work together to achieve denuclearization . On Saturday, Pyongyang said it will dismantle its nuclear test site on May 23-25. show chapters Why the new Malaysian government is good for businesses: Mobius 12 Hours Ago | 02:47 Other markets to watch Mobius said recent developments in Malaysia and South Korea boded well for corporate governance in these countries. Following Malaysia's shock election result , if its new prime minister Mahathir Mohamad is able to impose the rule of law as he said he would, it would be "incredible." "Because it means that companies now have to comply with rules and regulations, and there's potential for improvement of governance," he said. In South Korea, the public is now demanding for more accountability amid recent scandals involving large companies.

https://www.cnbc.com/2018/05/14/one-korea-mark-mobius-calls-idea-of-reunification-beautiful.html

Amazon adds 2000 jobs in Boston

3 Hours Ago | 00:34 Amazon is adding 2,000 jobs to its Boston tech hub in fields including cloud computing and speech science, the company announced Tuesday . Boston is one of the tech giant's largest footholds and is a finalist to win the company's second headquarters. Amazon has been paying visits to each of the 20 North American finalists . Amazon said Tuesday it's invested more than $400 million in Massachusetts since 2011, adding corporate offices and fulfillment centers. "In just a few years, we've grown from a handful of software developers and scientists to a team of more than 1,200, inventing new capabilities and products on behalf of millions of customers around the world," Rohit Prasad, Amazon's Boston-based head scientist for Alexa, said in a statement. The Amazon Alexa smart assistant faces growing competition from Google 's and Apple 's versions. Smart assistants are increasingly taking on new and complex tasks, with Amazon announcing last week that Alexa would soon gain memory and hold contextual conversations. The Boston jobs news follows a similar announcement on Monday in which Canadian Prime Minister Justin Trudeau said Amazon would be adding 3,000 jobs in Vancouver, British Columbia. WATCH: Amazon is so much more than online shopping — here's how big its become show chapters

https://www.cnbc.com/2018/05/01/amazon-adds-2000-jobs-in-boston.html

Novelion Therapeutics Reports First Quarter 2018 Financial Results

VANCOUVER, B.C., Novelion Therapeutics Inc. (NASDAQ:NVLN), a biopharmaceutical company dedicated to developing and commercializing therapies for individuals living with rare diseases (“Novelion” or the “Company”), today reported financial results for the first quarter ended March 31, 2018 and provided an overview of business activities. Chief Operating Officer Jeff Hackman said, “Thus far in 2018 we have executed a number of important initiatives, including finalizing the settlements with the DOJ, reducing costs, strengthening our balance sheet with a $20 million term loan, and reviewing our holding and capital structure with a goal of optimizing our assets for shareholders. We have a strong rare disease product portfolio that carries the opportunity to expand metreleptin into new disease areas, and which we believe will deliver meaningful future sales growth. We remain focused on continuing to market important therapies that will bring value to our patients.” Business Update JUXTAPID : Novelion reported net revenues of JUXTAPID of $13.4 million in the first quarter of 2018, $8.6 million, or 64%, of which were from prescriptions written in the U.S. MYALEPT : Novelion reported net revenues of MYALEPT of $14.1 million in the first quarter of 2018, $9.8 million, or 69%, of which were from prescriptions written in the U.S. Novelion reported total consolidated net revenues of $27.5 million in the first quarter of 2018. Novelion ended the first quarter of 2018 with $52.0 million in unrestricted cash, compared with $55.4 million at the end of 2017. The $52.0 million includes proceeds from a $20.0 million term loan to Aegerion Pharmaceuticals, Inc. ("Aegerion") provided by affiliates of Sarissa Capital Management and Broadfin Capital LLC, as announced in March 2018. The Company expects the opinion of the European Medicines Agency’s Committee for Medicinal Products for Human Use (“CHMP”) on the metreleptin marketing authorization application in the second quarter of 2018, followed by a mid-2018 European Commission approval decision. Novelion announced that a poster describing the results of a metreleptin study for weight loss in overweight and obese adults with low leptin levels will be presented at the American Diabetes Association’s 78 th Annual Scientific Sessions, which is being held from June 22 to June 26, 2018 in Orlando, Florida. First Quarter 2018 Financial Results GAAP total net revenues for the first quarter of 2018 were $27.5 million compared to $30.0 million for the same period of 2017. GAAP net revenues for JUXTAPID in the first quarter of 2018 were $13.4 million compared to $16.0 million for the same period in 2017. GAAP net revenues for MYALEPT in the first quarter of 2018 were $14.1 million compared to $14.0 million for the same period in 2017. GAAP total operating expenses for the first quarter of 2018 were $35.5 million compared to total operating expenses of $35.2 million for the same period in 2017. GAAP SG&A expenses were $23.7 million in the first quarter of 2018 compared to $24.5 million for the same period in 2017. GAAP R&D expenses were $11.8 million in the first quarter of 2018 compared to $9.3 million for the same period in 2017. On a pro forma basis, during the first quarter of 2018, SG&A expenses were $21.6 million compared to $23.0 million for the same period in 2017. The decrease in pro forma SG&A expenses in the first quarter of 2018 compared with the same period in 2017 was primarily related to a reduction in headcount and legal and consulting fees. On a pro forma basis, during the first quarter of 2018, R&D expenses were $11.6 million compared to $9.0 million for the same period in 2017. The increase in pro forma R&D expenses in the first quarter of 2018 compared with the same period in 2017 was primarily related to additional spending in certain clinical activities. GAAP net loss in the first quarter of 2018 was $32.8 million compared to GAAP net loss of $31.0 million during the same period in 2017. On a pro forma basis, net loss in the first quarter of 2018 was $13.5 million, compared to a loss of $8.7 million for the same period in 2017. As of March 31, 2018, the Company’s consolidated unrestricted cash balance was $52.0 million, compared to $55.4 million at December 31, 2017. As of March 31, 2018, there were18.7 million shares outstanding. Convertible debt principal is $325.0 million, reflecting the amount of convertible debt, before discount, issued by subsidiary Aegerion. In addition, as described above, in March 2018, Novelion’s subsidiary, Aegerion, entered into a secured financing facility with affiliates of Sarissa Capital Management and Broadfin Capital LLC providing for a $20.0 million term loan to Aegerion. About Novelion Therapeutics Novelion Therapeutics is a biopharmaceutical company dedicated to developing new standards of care for individuals living with rare diseases. Novelion has a rare disease product portfolio through its subsidiary, Aegerion Pharmaceuticals, Inc. The Company seeks to advance its portfolio of rare disease therapies by investing in science and clinical development. Non-GAAP (“pro forma”) Results The non-GAAP results in this press release, including, without limitation, non-GAAP net revenues, non-GAAP operating expenses, non-GAAP R&D expenses, non-GAAP SG&A expenses and non-GAAP net loss, are provided as a complement to results provided in accordance with GAAP because management believes, when considered together with the GAAP information, these non-GAAP financial measures help indicate underlying trends in the Company's business, are important in comparing current results with prior period results and provide additional information regarding the Company’s financial performance. Management also uses these non-GAAP financial measures to establish budgets and operational goals that are communicated internally and externally, and to manage the Company's business and evaluate its performance. The non-GAAP financial measures have no standardized meaning under GAAP and therefore may not be comparable to similar measures presented by other companies. The non-GAAP financial measures are not intended to be considered in isolation or as a substitute for, or superior to, the financial measures prepared and presented in accordance with GAAP and should be reviewed in conjunction with the relevant GAAP financial measures. A reconciliation of the GAAP financial results to non-GAAP financial results is included in the attached financial information. Forward-Looking Statements Certain statements in this press release constitute “forward-looking statements” of Novelion within the meaning of applicable laws and regulations and constitute “forward-looking information” within the meaning of applicable securities laws. Any statements contained herein which do not describe historical facts, including statements regarding expectations and beliefs about the Company’s expectations for future sales growth; the goal of optimizing the Company’s assets for our shareholders; expectations as to the opinion of the CHMP and the European Commission’s approval decision, including timing; and expectations about expanding metreleptin into new disease areas are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, those risks identified in our filings with the U.S. Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in our Annual Report on Form 10-K filed on March 16, 2018, and subsequent filings, with the SEC, available on the SEC’s website at www.sec.gov . Any such risks and uncertainties could materially and adversely affect our results of operations, profitability and cash flows, which would, in turn, have a significant and adverse impact on our stock price. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Except as required by law, we undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. This press release also contains “forward-looking information” that constitutes “financial outlooks” within the meaning of applicable Canadian securities laws. This information is provided to give investors general guidance on management’s current expectations of certain factors affecting our business, including our financial results. Given the uncertainties, assumptions and risk factors associated with this type of information, including those described above, investors are cautioned that the information may not be an appropriate subject of reliance for other purposes. Investors and others should note that we communicate with our investors and the public using our company website, www.novelion.com , including, but not limited to, company disclosures, investor presentations and FAQs, SEC filings, press releases, public conference call transcripts and webcast transcripts. The information that we post on this website could be deemed to be material information. As a result, we encourage investors, the media and others interested to review the information that we post there on a regular basis. The contents of our website shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. U.S. INDICATIONS AND IMPORTANT SAFETY INFORMATION JUXTAPID ® (lomitapide) capsules is a microsomal triglyceride transfer protein inhibitor indicated as an adjunct to a low-fat diet and other lipid-lowering treatments, including low-density lipoprotein (LDL) apheresis where available, to reduce LDL cholesterol, total cholesterol, apolipoprotein B, and non-high-density lipoprotein cholesterol in patients with homozygous familial hypercholesterolemia (HoFH). LIMITATIONS OF USE: The safety and effectiveness of JUXTAPID have not been established in patients with hypercholesterolemia who do not have HoFH, including those with heterozygous familial hypercholesterolemia (HeFH). The effect of JUXTAPID on cardiovascular morbidity and mortality has not been determined. JUXTAPID can cause elevations in transaminases, as well as increases in hepatic fat, with or without concomitant increases in transaminases. Because of the risk of hepatotoxicity, JUXTAPID is available only through a restricted distribution program called the JUXTAPID REMS PROGRAM. For more detailed information, please see additional Important Safety Information and the Prescribing Information for JUXTAPID. MYALEPT® (metreleptin) for injection is a leptin analog indicated as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy. LIMITATIONS OF USE: The safety and effectiveness of MYALEPT for the treatment of complications of partial lipodystrophy or for the treatment of liver disease, including nonalcoholic steatohepatitis (NASH), have not been established. Anti-metreleptin antibodies with neutralizing activity have been identified in patients treated with MYALEPT. T-cell lymphoma has been reported in patients with acquired generalized lipodystrophy, both treated and not treated with MYALEPT. For more detailed information, please see additional Important Safety Information and the Prescribing Information for MYALEPT. CONTACT: Amanda Murphy, Director, Investor Relations & Corporate Communications Novelion Therapeutics 857-242-5024 amanda.murphy@novelion.com Novelion Therapeutics Inc. Unaudited Condensed Consolidated Statements of Operations (in thousands, except per share amounts) Three Months Ended March 31, 2018 2017 Net revenues $ 27,484 $ 29,984 Cost of product sales 13,505 16,445 Operating expenses: Selling, general and administrative 23,689 24,451 Research and development 11,766 9,300 Restructuring charges — 1,451 Total operating expenses 35,455 35,202 Loss from operations (21,476 ) (21,663 ) Interest expense, net (10,886 ) (9,212 ) Other (expense) income, net (307 ) 52 Loss before provision for income taxes (32,669 ) (30,823 ) Provision for income taxes (159 ) (139 ) Net loss $ (32,828 ) $ (30,962 ) Net loss per common share—basic and diluted $ (1.76 ) $ (1.67 ) Weighted-average common shares outstanding—basic and diluted 18,703 18,540 Novelion Therapeutics Inc. Unaudited Condensed Consolidated Balance Sheets (in thousands) March 31, 2018 December 31, 2017 Cash and cash equivalents $ 51,983 $ 55,430 Accounts receivable, net 16,065 22,191 Inventories 52,078 49,826 Prepaid expenses and other current assets 14,171 11,436 Property and equipment, net 2,766 2,920 Intangible assets, net 218,998 225,272 Other non-current assets 2,412 2,247 Total assets $ 358,473 $ 369,322 Accounts payable and accrued liabilities $ 50,291 $ 55,638 Provision for legal settlement 36,789 39,612 Long-term debt 15,218 — Convertible notes, net 267,651 258,538 Other non-current liabilities 1,579 596 Total liabilities 371,528 354,384 Total stockholders’ (deficit) equity (13,055 ) 14,938 Total liabilities and stockholders’ (deficit) equity $ 358,473 $ 369,322 Novelion Therapeutics Inc. Reconciliation of GAAP to Non-GAAP Financial Information (in thousands, except per share amounts) (unaudited) Three Months Ended March 31, 2018 2017 Net loss reconciliation: GAAP net loss $ (32,828 ) $ (30,962 ) Stock-based compensation 906 1,399 Amortization of acquired intangible assets 6,274 6,231 Amortization of debt discount 9,113 7,742 Inventory fair value step-up 3,001 5,452 Restructuring charge related to acquisition — 1,451 Non-GAAP net loss $ (13,534 ) $ (8,687 ) GAAP net loss per common share - basic and diluted $ (1.76 ) $ (1.67 ) Non-GAAP net loss per common share – basic and diluted $ (0.72 ) $ (0.47 ) GAAP and Non-GAAP weighted-average common shares outstanding — basic and diluted 18,703 18,540 Net revenues reconciliation: GAAP and Non-GAAP net revenues $ 27,484 $ 29,984 Cost of product sales reconciliation: GAAP cost of product sales $ 13,505 $ 16,445 Amortization of acquired intangible assets (6,274 ) (6,231 ) Inventory fair value step-up (1,704 ) (5,109 ) Non-GAAP cost of product sales $ 5,527 $ 5,105 Selling, general and administrative expense reconciliation: GAAP selling, general and administrative expenses $ 23,689 $ 24,451 Stock-based compensation (768 ) (1,124 ) Inventory fair value step-up (1,297 ) (343 ) Non-GAAP selling, general and administrative expenses $ 21,624 $ 22,984 Research and development expense reconciliation: GAAP research and development expenses $ 11,766 $ 9,300 Stock-based compensation (138 ) (275 ) Non-GAAP research and development expenses $ 11,628 $ 9,025 Source:Novelion Therapeutics, Inc.

http://www.cnbc.com/2018/05/10/globe-newswire-novelion-therapeutics-reports-first-quarter-2018afinancial-results.html

BRIEF-Alk-Abello Q1 EBITDA Falls To DKK 92 Million

May 4 (Reuters) - ALK-ABELLO A/S: * REG-THREE-MONTH INTERIM REPORT (Q1) 2018 * Q1 TOTAL REVENUE DKK 752 MILLION VERSUS DKK 789 MILLION YEAR AGO * FULL-YEAR REVENUE IS NOW PROJECTED TO BE MORE THAN DKK 2.7 BILLION (PREVIOUSLY APPROXIMATELY DKK 2.7 BILLION) * Q1 GLOBAL TABLET SALES GREW BY 22% TO DKK 168 MILLION (140) * FREE CASH FLOW IS NOW EXPECTED AT MINUS DKK 600 MILLION OR BETTER (PREVIOUSLY APPROXIMATELY MINUS DKK 600 MILLION) * INVENTORIES ARE SET TO RETURN TO NORMAL DURING 2018. * FY OPERATING PROFIT (EBITDA) IS NOW EXPECTED AT AROUND DKK 0 (PREVIOUSLY MINUS DKK 50 MILLION) Source text for Eikon: Further company coverage: (Gdynia Newsroom)

https://www.reuters.com/article/brief-alk-abello-q1-ebitda-falls-to-dkk/brief-alk-abello-q1-ebitda-falls-to-dkk-92-million-idUSASO000495

Commentary: Hedge funds trapped in near-term Brent futures

May 22, 2018 / 12:21 PM / Updated 2 hours ago Commentary: Hedge funds trapped in near-term Brent futures John Kemp 5 Min Read LONDON (Reuters) - Hedge funds are rolling forward long positions in the Brent futures contract, and in the absence of offsetting factors this is depressing the value of expiring contracts, pushing futures prices into contango. File photo: Employees work on the BP Eastern Trough Area Project (ETAP) oil platform in the North Sea, around 100 miles east of Aberdeen in Scotland. REUTERS/Andy Buchanan/pool Since the end of June 2017 hedge funds and other money managers have built up a near-record net long position in Brent in the expectation that prices will continue to rise. Hedge funds held long futures and options positions equivalent to almost 615 million barrels on May 15, according to position reports published by the Intercontinental Exchange. These were partially offset by short positions amounting to 66 million barrels, giving a net long of almost 549 million barrels. Fund managers also held 374 million barrels of positions in the calendar spreads, offsetting long and short positions in different contract months. Some positions were held in the form of options, but most were futures, with a net long position in futures alone amounting to 519 million barrels. For the Brent contract as a whole, the total number of open positions in futures across all maturities and all market participants was equivalent to 2,704 million barrels. Of all the open positions, almost 44 percent were concentrated in the first three contracts expiring in July 2018 (437 million barrels), August 2018 (463 million barrels) and September 2018 (281 million barrels). Unless the hedge fund positions were distributed very differently to other market participants, a substantial number must have been held in the first three months. In fact, many fund managers, especially those following momentum-based strategies, have a strong preference for liquidity, so they tend to hold their position in the closest and most liquid contract months. But as those contracts approach expiry, positions must be rolled forward or allowed to terminate automatically with the passage of time ( tmsnrt.rs/2Ln8DBI ). (Chart 2: tmsnrt.rs/2Ln8DBI ) The rolling forward of long positions tends to push the front end of the futures curve from backwardation towards contango because they involve the simultaneous sale of a near-term contract and purchase of one further forward. Of course, for every long position there is a short, and the rolling of short positions tends to have the opposite effect, pushing the market from contango towards backwardation. In theory, the impact of rolling forward long and short positions should be neutral. In practice, different groups of market participants employ different strategies and have a different impact on price formation. Hedge funds and other money managers tend to be dynamic price-makers rather than passive price-takers because they trade on expectations of where prices will move in future. The sheer number of hedge fund long positions already established in the market and needing to be rolled forward each month is now weighing on prices at the front end of the curve. While fund managers were still accumulating net longs between June 2017 and March 2018, the negative impact on near-term calendar spreads was masked by the amount of new buying each month. But hedge funds have been reducing their net position in Brent since the middle of April. The net position has been cut by 84 million barrels, or 13 percent, since April 10. If the problem of rolled longs persists, many more hedge funds are likely to try to escape it by shifting positions further along the curve towards contracts expiring in 2019 or 2020. John Kemp is a Reuters market analyst. The views expressed are his own. Related columns:

https://uk.reuters.com/article/uk-oil-prices-kemp/commentary-hedge-funds-trapped-in-near-term-brent-futures-idUKKCN1IN1IS

Monarch Private Capital Strengthens Tax and Legal Expertise

Hires Alice Nolen, seasoned tax credit practice leader as Director of Sales and Special Projects ATLANTA--(BUSINESS WIRE)-- Monarch Private Capital (MPC), the most diversified investor in tax credit projects, announces Alice Nolen has joined the company as Director of Sales and Special Projects. Nolen, who has extensive tax technical and legal experience, will assist in the development of initiatives for corporate and individual investors who can benefit from various state and federal tax credit programs that positively impact communities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180531005310/en/ Monarch Private Capital hires Alice Nolen, a seasoned tax credit practice leader as Director of Sales and Special Projects. (Photo: Business Wire) “The caliber of talent joining our team is remarkable,” said George Strobel , MPC’s co-CEO and Managing Director of Tax Credit Investments. “Alice Nolen brings world-class tax expertise from both a legal and a tax perspective that will enable us to continue providing our investors and leading companies with the very best tax credit programs and investment structures.” Prior to MPC, Nolen was the national practice lead for tax credits and incentives at Experis (formerly Jefferson Wells) and has over 15 years of experience in Big 4 public accounting, law, and the tax credit industry. Her primary practice focus has been in the specialty area of multistate taxes, and includes securing credits and incentives for large corporate taxpayers. “I’m excited to join a company that is focused on making innovative, dynamic and intelligent investments to differentiate itself from others in the industry, as well as position itself to be a leader in the future of tax supported industries,” Nolen said. Previously, Nolen was a tax senior manager in Deloitte Tax LLP’s credits and incentives group where she secured statutory tax credits and negotiated state and local incentives and training grants in various states and localities on behalf of numerous multi-state companies. At Deloitte she also served as the Southeast leader for the multistate green/sustainability and R&D incentives initiative. Prior to Deloitte, Nolen was tax counsel with Alston & Bird LLP, where her practice included advising clients on various tax incentives issues as well as state tax controversy negotiations and appeals. Nolen holds a BA and a JD from the University of Alabama, and an MBA in finance and accounting from Tulane University. She is an active member of the Georgia Bar and previously worked as a licensed CPA in Georgia. For more information on MPC’s programs and services, please contact George Strobel at 404-596-8032 or gstrobel@monarchprivate.com . About Monarch Private Capital Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S. Please visit monarchprivate.com to learn more. View source version on businesswire.com : https://www.businesswire.com/news/home/20180531005310/en/ Monarch Private Capital Jane Rafeedie, 470-283-8431 jrafeedie@monarchprivate.com Source: Monarch Private Capital (MPC)

http://www.cnbc.com/2018/05/31/business-wire-monarch-private-capital-strengthens-tax-and-legal-expertise.html

Huddersfield extend Wagner's contract to 2021

May 30, 2018 / 11:44 AM / Updated 28 minutes ago Huddersfield extend Wagner's contract to 2021 Reuters Staff 2 Min Read LONDON (Reuters) - Huddersfield Town manager David Wagner and his assistants have signed new contracts keeping them at the Premier League club for the next three seasons. FILE PHOTO: Soccer Football - Premier League - Huddersfield Town vs Arsenal - John Smith's Stadium, Huddersfield, Britain - May 13, 2018 Huddersfield Town manager David Wagner applauds the fans at the end of the match Action Images via Reuters/Andrew Boyers Huddersfield said Wagner, Christoph Buehler and Andrew Hughes agreed deals that will run until the summer of 2021. “The decision to extend my stay at this club was not a difficult one,” Wagner told the Terriers’ website. (www.htafc.com) “The relationship Christoph, Andy and I have with (chairman) Dean (Hoyle), the rest of the board, the staff and the supporters is special. “We’ve achieved some incredible things together in two and a half years and now I’m excited about the future.” Wagner, who joined the club from Borussia Dortmund II in 2015, kept Huddersfield in the Championship (second tier) before securing their top flight return through the playoffs in 2017 after a 45-year absence. All three still had a year to run on their existing contracts with the club, who finished 16th in the Premier League last season, four points clear of the drop zone. Reporting by Alan Baldwin; Editing by David Holmes

https://uk.reuters.com/article/uk-soccer-england-hdd-wagner/huddersfield-extend-wagners-contract-to-2021-idUKKCN1IV1F3