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Alcoa Inc. shares rose 1.8% premarket Friday, after the company said it has reached agreement on the early termination of a power contract tied to the Rockdale smelter in Texas. The smelter has been curtailed since the end of 2008, the company said, and Alcoa’s cost of power exceeded the revenue it was generating. The contract was originally meant to expire no later than 2038. Alcoa is expecting annual net income to be boosted by $60 million to $70 million as a result of the early termination, starting in the fourth quarter. It expects to book a one-time charge of about $250 million in the fourth quarter because of the deal. The company has now started a strategic review of the remaining buildings and equipment at the smelter, casthouse and aluminum powder plant. Shares have gained 69% in 2017, while the S&P 500 has gained 14%.

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J.B. Hunt Transportation Services Inc. reported Friday third-quarter net income of $100.4 million, or 92 cents a share, compared with $109.4 million, or 97 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 96 cents. The logistics company said evenue rose to $1.84 billion from $1.69 billion, just above the FactSet consensus of $1.83 billion. Among the business segments, intermodal revenue rose 8% to $1.05 billion to match the FactSet consensus, while truck revenue fell 5% to $93 million, missing expectations of $96.6 million. Revenue for the dedicated contract services and integrated capacity solutions businesses both rose above expectations. The stock was still inactive in premarket trade. It has run up 19% over the past three months, while the Dow Jones Transportation Average has tacked on 3.5% and the Dow Jones Industrial Average has gained 6.0%.

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Shares of Spark Therapeutics Inc. surged 7.5% premarket Friday, after a U.S. Food and Drugs Administration advisory committee recommended approval of the company’s gene therapy treatment for a rare eye disease that causes blindness. The committee voted unanimously to approve Luxturna in the treatment of patients with biallelic RPE65-mediated inherited retinal disease. There is currently no treatment for the disease, which causes childhood blindness. Luxturna has received orphan drug, breakthrough therapy and rare pediatric disease designations from the agency. The treatment showed positive results in a Phase 3 trial, data from which were published in The Lancet. The committee’s ruling is non-binding, but is taken into consideration by the FDA when reviewing drug applications. Shares have gained 73% in 2017, while the S&P 500 has gained 14%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Novavax Inc. said Friday Chief Financial Officer Barclay Phillips has resigned to pursue and “expanded opportunity” in the industry. Phillips will step down, effective Nov. 10. Chief Executive Stanley Erck will act as interim CFO until a replacement can be found. The biotechnology company’s stock, which was still inactive in premarket trade, has gained 0.9% over the past three months, while the iShares Nasdaq Biotechnology ETF has climbed 6.6% and the S&P 500 has advanced 4.2%.

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Shares of Aerie Pharmaceuticals Inc. were halted for trading Friday, as the U.S. Food and Drugs Administration reviews a new drug application for a treatment for glaucoma and ocular hypertension. The FDA’s dermatologic and opthalmic drugs advisory committee will meet at 8.30 a.m. Eastern to review Rhopressa, an eye drop which, if approved, would be the only once-daily product targeting the trabecular meshwork, which is the eye’s main fluid drain and the tissue responsible for the pressure on the eyes felt in glaucoma. Glaucoma is a disease in which damage to the optic nerve leads to vision loss. It’s the second leading cause of blindness, according to the Glaucoma Research Foundation. Aerie shares have gained 66% in 2017, while the S&P 500 has gained 14%.

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President Donald Trump intends to cut off key payments to health insurers, Politico reported Thursday night, in his most aggressive move yet to scrap Obamacare. Politico said the $7 billion in annual subsidies could end almost immediately, since Congress has not allocated any funds for the program. For months, Trump has threatened to cut off the payments, but many Republican lawmakers opposed the move because of the turmoil it could cause to insurance markets, including increased premiums. Politico said Trump may announce the cuts Friday. Late Thursday night, the attorneys general of New York and California said that a coalition of states would sue to preserve the subsidies if Trump moves against them. Earlier Thursday, Trump signed an executive order encouraging cheap insurance plans not subject to Affordable Care Act rules.

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Samsung Electronics Co. Ltd. Chief Executive and Vice Chairman Kwon Oh-hyun said Friday he would step down when his term ends in March 2018. “As we are confronted with unprecedented crisis inside out, I believe the time has come for the company to start anew with new sprit and young leadership to better respond to challenges,” Kwon said in a statement. Kwon, 64, has led the electronics giant since 2012, and has been the conglomerate’s de facto leader since Samsung heir Lee Jae-yong was convicted of bribery. Earlier Friday, Samsung forecast record quarterly profits.

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Shares of Applied Optoelectronics Inc. fell 17% late Thursday after the Sugar Land, Texas, company warned investors about lower-than-expected third-quarter profit and revenue thanks to lower sales to one of its larger data-center customers. The company called for a GAAP profit in the range of $18.6 million to $19.6 million and an adjusted profit between $21.2 million and $22.2 million, compared with a previous outlook of non-GAAP profit between $26.6 million and $29.4 million. GAAP per-share earnings were tweaked lower to between 91 cents and 96 cents, and adjusted earnings per share seen in a range of $1.04 to $1.09, compared with a previous forecast of adjusted earnings of $1.30 a share to $1.43 a share. Applied Optoelectronics shares ended the regular session down 4.2%.

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