• WABCO Holdings Inc. (WBC) announced that it has signed a Memorandum of Understanding with Nidec Motor to define, develop, manufacture and commercialize fully integrated electric drivetrain and brake control solutions for longitudinal control of commercial vehicles. Additionally, the company signed a Memorandum of Understanding with Baidu (BIDU) to collaborate on developing a best-in-class, cost-effective and highly standardized suite of solutions for Level 4 Autonomous Driving in hub-to-hub highway applications for commercial vehicles.
• Astronics Corporation (ATRO) announced that its wholly owned subsidiary, Astronics AeroSat, recently received the Civil Aviation Administration of China Validation of Supplemental Type Certification (VSTC) of its satellite communications connectivity system.
• Zymeworks Inc. (ZYME) announced it has named Anthony Polverino, Ph.D., Executive Vice President of Early Development and Chief Scientific Officer. In his new role, Dr. Polverino will be instrumental in setting and driving Zymeworks' R&D strategy. From 2016 until 2018, Dr. Polverino was at Kite Pharma, Inc., which was acquired by Gilead Sciences, Inc. in 2017.
• AutoNation, Inc. (AN) announced that Mike Jackson, Chairman, CEO and President, has extended his contract with the Company as Executive Chairman. The Company also announced that the Board of Directors has retained the executive search and leadership advisory firm, Spencer Stuart, to support the CEO succession process, which will consider both internal and external candidates. Mr. Jackson will continue to lead the Company in his current role as Chairman, CEO and President during the succession process.
• Endeavour Silver Corp. (EXK) reports that infill drilling within the Terronera vein system on the Terronera property in Jalisco State, Mexico (view Terronera map here) has intersected high grade silver-gold mineralization in an additional 17 drill holes.

• Celanese (CE) announced it will raise prices of all acetate tow product grades sold in Eastern Europe and Asia by $1.00/kg. This price increase will be effective for orders shipped on or after November 1, 2018, or as contracts otherwise allow.
• R.R. Donnelley & Sons (RRD) announced that it has commenced cash tender offers to purchase up to $350,000,000 aggregate principal amount of its outstanding 7.625% Senior Notes due 2020, 7.875% Senior Notes due 2021, 8.875% Debentures due 2021 and 7.000% Senior Notes due 2022

• Kirkland Lake Gold Ltd. (KL) announced new high-grade results from the ongoing underground drilling programs at the Fosterville Mine in Victoria, Australia. Underground drilling continues to target down-plunge extensions of Swan Mineral Reserves with results providing confirmation of the geological model and continuity of high-grade, visible-gold bearing mineralization on the Swan structure. Results from 19 new drill holes, totaling 6,482 m, outside of the December 31, 2017 Measured and Indicated Mineral Resources in the Swan Zone continue to return intervals of exceptionally high grades with visible gold. The drilling demonstrates that high-grade, visible-gold bearing quartz veins extend at least 200 m down-plunge from current Mineral Reserves.
• Alibaba Group Holding Ltd. (BABA) and SAP SE (SAP) announced plans to offer SAP S/4HANA Cloud and SAP Cloud Platform on Alibaba Cloud's infrastructure as a service in China to help customers transition to the cloud and build intelligent enterprises.
• WABCO Holdings Inc. (WBC) has signed a strategic agreement with RIO, the groundbreaking digital brand of global commercial vehicle manufacturer, the TRATON GROUP. Under the agreement, RIO will leverage WABCO's advanced Fleet Management Solutions within its fast-growing cloud-based connectivity environment to support the European logistics industry. Additionally, the company announced that it has signed a Memorandum of Understanding with Valeo to supply WABCO with advanced short and mid-range sensors, including 77GHz radar and solid-state LiDAR, to develop and industrialize the next generation of Advanced Driver Assistance Systems, among the key building blocks for vehicle autonomy.
• Russian online service YouDo.com has raised additional funds in a new investment round, which drew in $17 million. The lead investor of the round, PJSC MTS (MBT), Russia's largest telecoms operator and digital services provider, accounted for $12 million of this investment.
• GE Transportation (GE) announced at InnoTrans 2018 that Indian Railways has confirmed its acceptance of GE's 4,500-horsepower diesel-electric Evolution Series prototype locomotive. This critical milestone was achieved following the successful completion of rigorous testing on Indian Railways' tracks following the locomotive handover in February 2018.
• Collectors Universe, Inc. (CLCT) announced the termination of David G. Hall's employment as the Company's President and Chief Operating Officer, effective as of the close of business on September 18, 2018. Joseph J. Orlando, the Company's Chief Executive Officer, will assume Mr. Hall's duties.

• Sprague also announced that Mr. David Long will replace Mr. Rinaldi as Chief Financial Officer of its General Partner. Mr. Long will join Sprague on December 3, 2018 and will assume the role of Chief Financial Officer on January 1, 2019. The General Partner does not intend to appoint a successor Chief Operating Officer; President and CEO David Glendon will assume the responsibilities of the COO role. Mr. Long is currently Senior Vice President with Kinetico, a subsidiary of its Sponsor, Axel Johnson.
  

• Ares EIF, the power and infrastructure strategy at Ares Management, L.P. and Starwood Energy Group Global signed an agreement to sell their respective interests in Hudson Transmission Partners, LLC ("HTP") to an investment vehicle managed by Argo Infrastructure Partners, LLC. The transaction is subject to customary regulatory approvals and is expected to close later in 2018 or in early 2019.

• Co announces that its net daily production exceeded 20,000 barrels of oil equivalent ("BOE") in early September. This production level was achieved based on strong performance from wells recently placed online on the Weber lease in Loving County, Texas along with contributions from Lea County, New Mexico and the co's Southern Delaware operating area.
• Rosehill continues to demonstrate and expect strong production growth in 2018 and beyond from the co's prolific acreage in the Delaware Basin.

• Co announced that it has extended and amended its existing revolving credit agreement with Wells Fargo Bank (Wells Fargo) and its term loan agreement with Gordon Brothers Finance Company (GBF). These agreements are coordinated through an intercreditor agreement and provide for combined borrowing availability of $275 million.

Stocks rallied on Tuesday as investors shrugged off a fresh exchange of tariffs between the world's two largest economies. The S&P 500 climbed 0.5%, reclaiming its Monday decline, while the Dow Jones Industrial Average and the Nasdaq Composite advanced 0.7% and 0.8%, respectively. The major averages opened higher and climbed into the afternoon, finishing a step below their best marks of the day.

President Trump announced after Monday's close that the U.S. will be slapping tariffs on $200 billion worth of Chinese goods starting on September 24. The tariff rate will start at 10%, but will increase to 25% on January 1. Mr. Trump also said he will impose additional tariffs on $267 billion worth of Chinese goods if Beijing retaliates -- which it vowed to do with 5-10% tariffs on $60 billion worth of U.S. goods.

Like Wall Street, Asian stocks also managed to rally despite the seemingly negative headlines, with China's Shanghai Composite adding 1.8%.

In an attempt to explain Tuesday's gains, some analysts pointed to the fact that the initial 10% tariff rate by the U.S. was not as harsh as expected -- thereby reflecting a willingness to negotiate -- while others said the rally reflects the market's belief that the U.S.-China trade dispute will eventually die down. Regardless, it's worth noting that short-covering activity was likely a helping hand for the bulls.

The consumer discretionary (+1.3%) and information technology (+0.6%) sectors outperformed on Tuesday after leading Monday's retreat. The trade-sensitive industrial sector (+0.9%) was also strong, as was the energy space (+0.7%), which benefited from a rise in the price of crude oil; WTI crude futures jumped 1.5% to $69.87/bbl.

Oil rallied amid speculation that OPEC won't be raising production in the short term to offset any lost supply from Iran, which will soon be facing U.S. oil sanctions. Also of note, Bloomberg reported on Tuesday that Saudi Arabia is comfortable with Brent above $80 a barrel.

On the corporate front, Oracle (ORCL 49.03, -0.15, -0.3%), FedEx (FDX 241.58, -14.15, -5.5%), General Mills (GIS 44.13, -3.64, -7.6%), and AutoZone (AZO 732.76, -14.76, -2.0%) fell after reporting earnings. Separately, Tesla (TSLA 284.96, -9.88) lost 3.7% on news that it's under investigation by the Justice Department over CEO Elon Musk's August 7 tweet about taking the company private.

In the bond market, U.S. Treasuries tumbled on Tuesday, sending yields higher across the curve, with the benchmark 10-yr yield jumping five basis points to 3.05% -- which marks its highest level in four months. The Fed-sensitive 2-yr yield ticked up one basis point to 2.79%, hitting its highest level in over a decade.

Reviewing Tuesday's economic data, which was limited to the NAHB Housing Market Index for September:

• The NAHB Housing Market Index for September came in at 67 (Briefing.com consensus 66), unchanged from the August reading.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index, August Housing Starts and Building Permits, and the Q2 Current Account Balance.

• Nasdaq Composite +15.3% YTD
• Russell 2000 +11.4% YTD
• S&P 500 +8.6% YTD
• Dow Jones Industrial Average +6.2% YTD

• August 2018 Orders Comments: Emerson trailing three-month orders +2%. Underlying orders +7%, excluding unfavorable currency translation of 5%, and remained in the 5 to 10% range communicated at annual Investor Conference in February. Automation Solutions orders +1% with underlying orders up 8% excluding unfavorable currency translation of 7%. Systems underlying orders growth continued in the high-single digits, reflecting strong demand for small and mid-sized projects. Maintenance and repair underlying orders growth also remained in the high-single digits, reflecting steady demand in the U.S. and China. Commercial & Residential Solutions orders +3% with underlying orders up 4% excluding unfavorable currency translation of 1%. Strong demand in North American air conditioning and refrigeration markets was offset by slower demand across Asia and the Middle East.

• The offering includes 6.0 mln shares of Class A common stock offered by the company and 22,225 shares offered by two individual selling stockholders. The selling stockholders will receive all of the net proceeds from the sale of their selection of shares.
• Evo Payments intends to use proceeds to purchase LLC interests in EVO Investco, LLC and paired shares of the Company's Class D common stock from funds affiliated with Madison Dearborn Partners, LLC.