Briefing.com: Hourly In Play (R) – 00:00 ET

INTU NASDAQ 100 (NDX) leaders & laggards moving into today's final hour of trading -Technical-

NDX 100 Best % Performers:

INTU +7.75%, JNPR +4.50%, NRG +3.75%, TEVA +2.75%, MICC +2.50%, ADBE +2.25%, EBAY +2.0%, LBTYA +2.0%, DTV +2.0%, SRCL +1.75%

NDX 100 Worst % Performers:

FSLR -7.75%, APOL -7.50%, DELL -7.0%, NTAP -1.75%, JOYG -1.25%, AMAT -1.25%, EXPE -1.0%, LOGI -1.25%, XRAY -1.0%, HOLX -1.0%, CTXS -1.0%

NASDAQ TRIN @ +1.0

NASDAQ A/D @ +225

14:54

PFE Dow (INDU) leaders & laggards moving into today's final hour of trading -Technical-

INDU 30 Best % Performers:

PFE +1.75%, DD +1.50%, DIS +1.0%, BA +1.0%, CAT +1.0%, MRK +0.75%

INDU 30 Worst % Performers:

JPM -0.75%, VZ -0.50%, T -0.50%, IBM -0.50%, MSFT -0.50%, JNJ -0.50%

NYSE TRIN @ +0.85

NYSE A/D @ +645

14:41

COMDX NYMEX Energy Closing Prices

Crude oil ended higher by 75 cents to $79.81, natural gas finished down 12.6 cents to $5.046, heating oil closed up 1.91 cents to $2.0707 and RBOB gasoline gained 1.68 cents to settle at $2.086.

14:30

IYT Dow Transports -TRAN- displays relative strength pauses after midday test of its 50-day sma at 4071 -- session high 4071 -Technical-

The IYT has stalled after a modest breach of a similar level at 73.35 (session high 73.57, currently at 73.29).

14:10

SPY Trading volume analysis with chart-- NYSE trading volume still pacing well above yesterdays, but options expiration may be skewing true figures -Technical-

With under two hours remaining in the trading session, NYSE volume is pacing well ahead of yesterday's tally. However, a huge volume surge @ the open on NYSE seen on the chart below, most likely attributed to expiration of Feb. equity & index options, is skewing true totals today and not giving a clear read into mutual fund & institutional trading activity.

As of 2:00p.m. ET, nearly 675M shares have changed hands vs. 501.5M yesterday.

NYSE 30 min volume charts

13:33

COMDX COMEX Metals Closing Prices

April gold ended the session higher by $3.30 to $1122.00, March silver gained 35 cents to finish at $16.41 and March copper closed up 7.15 cents to $3.357.

13:28

CACB Cascade Bancorp amends Securities Purchase Agreements (0.56 -0.01)

Co entered into an agreement with each of David F. Bolger and an affiliate of Lightyear Fund amending the Securities Purchase Agreements between the Company and Mr. Bolger and the Company and Lightyear dated October 29, 2009 (the "Securities Purchase Agreements"). The amendments, among other things, extend the date by which conditions of closing must be satisfied to May 31, 2010. A sale by the Company of its common stock in a concurrent public offering is no longer a condition to the closing of the sales of common stock to Mr. Bolger and Lightyear contemplated by the Securities Purchase Agreements. Instead, the sales to Mr. Bolger and to Lightyear are conditioned upon the Company's simultaneous sale of shares of its common stock in additional private placements to other investors under separate written agreements such that the total net proceeds from the offerings is at least $150 million, in addition to the other closing conditions set forth in each of the Securities Purchase Agreements.

13:15

VIDE Video Display subsidiary successfully installed a new upgrade for the existing display system on a US Navy Aegis Destroyer (4.34 +0.06)

12:50

XME Midday sector ETF view -Technical-

Actively Traded Leading Sector ETF Plays:

SPDRS metals & mining- XME +2.0%, iShares US broker/dealers- IAI +2.0%, Silver- SLV +1.75%, Oil HLDRS- OIH +1.50%, SPDRS utilities- XLU +1.50%, iShares transports- IYT +1.50%, Commercial banks- KBE +1.50%, Base metals- DBB +1.0%, Basic materials- XLB +1.0%, IYM +1.0%, Steel- SLX +1.0%, RBOB gas- UGA +1.0%

Actively Traded Lagging Sector ETF Plays:

Solar power- TAN -2.50%, Nat gas- UNG -2.50%, VIX vol index- VXX -2.25%, iShares S Korea- EWY -1.50%, iShares Japan- EWJ -1.25%, China 25- FXI -1.25%, Yen currecny shares- FXY -0.75%, Global shippers- SEA -0.50%, Clean energy- PBW -0.50%, India- INP -0.50%, Emerging mkts- EEM -0.50%

12:35

IAI iShares DJ Broker Dealer providing leadership, reaches resistance zone (27.01 +0.52) -Update- -Technical-

Strong run in the group today brings the ETF to a resistance zone marked by its 200 day sma and 50 day ema at 27.05/27.17 (session high 27.06) -- AMP +1.1%, SCHW +4.7%, CME +1.1%, GS +0.5%, ICE +1%, AMTD +3.2%, JEF +0.6%.

12:30

CBC Capitol Bancorp receives approval to consolidate four Washington Banks (2.15 +0.02)

Co announced that it has received regulatory and shareholder approval to consolidate Bank of Bellevue, Bank of Everett, Bank of Tacoma and Issaquah Community Bank. Effective February 19, 2010, the banks will consolidate into one charter and all four locations will begin operating as Bank of the Northwest on February 22, 2010.

12:27

UUP Dollar Index slides to new session low near support, seeing relative strength in Energy/Commodity -Update- -Technical-

The Dollar Index has drop as low as 80.75, watching an intraday support zone at 80.75/80.70 to see if it can stabilize.

12:19

OIH Oil Service HOLDRS Trust ETF making midday highs with the early Feb. swing high point in play @ 124.71 (124.75 +1.94) -Update- -Technical-

OIH now +1.55% & making new weekly & monthly highs @ 124.76

12:15

MDT Medtronic's Physio-Control resumes unrestricted global shipments of its LIFEPAK defibrillators (43.75 -0.05)

Physio-Control Inc., a wholly-owned subsidiary of Medtronic, announced it received notice from the FDA that having successfully met requirements for improvements to the quality system, the company may resume unrestricted worldwide shipments of its external defibrillators.

12:10

Rumor Round Up

We ended the week with a slew of rumors, after having a relatively quiet week. This morning we heard renewed Rambus (RMBS 22.41 +0.10) takeover chatter. It was rumored that Electronic Arts (ERTS 16.74 +0.14) was seeing interest from potential acquirers. Delta Petroleum (DPTR 1.41 +0.13) traded higher on a spike in volume after takeover rumors circulated. Dendreon (DNDN 32.49 +0.48) shares spiked to highs of the day following renewed takeover chatter; today's rumored acquirer was AstraZeneca (AZN 43.67 -0.24). Myriad Genetics (MYGN 22.11 +0.52) spiked to highs of the day following chatter Abbott Labs (ABT 54.49 -0.48) could be interested in the company. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable the speculation may increase volatility in the near term.

12:07

COMDX Gold, silver trade to their best levels of the morning as the dollar index trades into negative territory

Gold is now up $3.10 to $1121.80 and silver is higher by 21.5 cents to $16.275.

11:59

QQQQ New session high for Nasdaq Comp +4.8, Dow +24 and S&P +3.3 hovering just below -Update- -Technical-

Relative strength in Materials XLB, Steel SLX Gold Miners GDX as Dollar Index pulls back, also seeing Semi SMH, Retail XRT, Medical Supplies, Utility UTIL, Rail outperform the S&P on this move.

11:56

European Markets Closing Prices: FTSE: 5358.2 +33.1 +0.6%, DAX: 5722.1 +41.6 +0.7%, CAC: 3769.5 +44.3 +1.2%, Spain's IBEX: +0.97%, Portugal's PSI: +0.87%

11:44

SPY Trading volume analysis with chart-- NYSE volume pacing well ahead of totals seen all week as Feb. options expiration provides catalyst -Technical-

NYSE trading volume is posting the strongest two-hour total of the week today as equity & index options play a roll. The 1st five min. NYSE volume bar shows nearly 220M shares changing hands on the open which has clearly propelled volume this morning.

As of 11:30ET, nearly 463M shares have traded vs. 314M yesterday.

NYSE 60 min volume chart

11:34

SOR Source Capital, Inc. reports year ended Net Asset Value per Common Share of $ 50.36 vs $34.61 a year ago (42.63 +0.11)

11:24

TECHX Lagging Nasdaq 100 +1.6 and Comp +1.5 probing yesterday's highs -Update- -Technical-

11:16

SPY Stock indices continue rally off early low, Dow +17 edges above yesterday's high -- S&P +2.1, Nasdaq -0.5 -Update- -Technical-

10:58

XATA XATA shareholders approve Turnpike acquisition terms (3.00 0.00)

Co shareholders approved all Proposals presented at the Annual Meeting of Shareholders. The Proposals included approval to increase the number of authorized common and preferred stock, amendments to the Company's certificates of designation, consent to the issuance stock in connection with the acquisition and related financing pursuant to NASDAQ Stock Market requirements, approval of a new series of preferred stock, an election to opt out of the Minnesota Control Share Acquisition Act and the election of eight directors. All proposals passed by a margin of at least 95%. The approvals received from the Company's shareholders will also result in the conversion of $30.2 million of outstanding debt of the Company, which was incurred to finance the Turnpike acquisition and for other purposes, into shares of the new Series G Preferred Stock and warrants to purchase common stock of the Company.

10:56

INSU Insituform Tech receives contracts valued at $19.9 mln to rehabilitate wastewater pipelines in Singapore (21.60 +0.04)

10:47

SPY Minor new morning rebound highs for stock indices -- Dow -5, S&P -0.6, Nasdaq -4 -Update- -Technical-

Relative sector strength on this move has been noted in: Materials XLB, Utility UTIL, Gold Miners GDX, Steel SLX, Solar TAN, Shipping SEA, Housing XHB.

10:35

IAI 1st hour sector ETF view -Technical-

Actively Traded Leading Sector ETF Plays:

iShares US broker/dealers- IAI +1.0%, US Dollar index- UUP +1.0%, SPDRS utilites- XLU +0.75%, iShares transports IYT +0.75%, Commercial banks- KBE +0.50%, RBOB gas- UGA +0.50%, Oil HLDRS- OIH +0.50%, SPDRS metals & mining- XME +0.25%, Livestock commods- COW +0.25%

Actively Traded Lagging Sector ETF Plays:

Solar power- TAN -3.25%, iShares S Korea- EWY -2.0%, iShares Japan- EWJ -2.0%, Nat gas- UNG -2.0%, China 25- FXI -1.75%, Wind energy- FAN -1.75%, Clean energy- PBW -1.25%, Global shippers- SEA -1.25%, Gold miners- GDX -1.0%, Emerging mkts- EEM -1.0%, India- INP -1.0%, Ag/chem- MOO -1.0%

10:28

XLF Financial Select Sector SPDR retesting morning bounce high/unch (14.39 +0.01) -Update- -Technical-

10:27

INTU NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-

NDX 100 Best % Performers:

INTU +8.75%, JNPR +6.50%, NRG +1.50%, ADBE +1.50%, TEVA +1.50%, STLD +1.0%, ISRG +1.0%, SPLS +1.0%, DTV +0.75%, ORLY +0.50%, CTAS +0.75%

NDX 100 Worst % Performers:

DELL -7.50%, FSLR -7.0%, APOL -5.75%, JOYG -2.50%, AMAT -2.25%, LOGI -1.50%, ORCL -1.0%, NTAP -1.0%, RYAAY -1.0%, MXIM -0.75%, ROST -0.75%, DISH -0.50%, MSFT -0.50%

NASDAQ TRIN @ +1.20

NASDAQ A/D -600

10:26

SPY Stock indices lifting off lows/first level supports -Update- -Technical-

The pullback this morning has held near first level supports noted in The Technical Take: Nasdaq Comp 2229 50 sma (session low 2228.93); S&P 1101/1100 (session low 1100); 10350/10340 Dow (session low 10339). This move is potentially an important indication of the underlying strength.

10:24

PFE Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-

INDU 30 Best % Performers:

PFE +1.50%, UTX +1.0%, BA +0.75%, BAC +0.50%, DD +0.50%, DIS +0.50%

INDU 30 Worst % Performers:

AXP -1.0%, GE -1.0%, JPM -0.75%, KO -0.75%, MSFT -0.75%, AA -0.50%, IBM -0.50%

NYSE TRIN @ +0.95

NYSE A/D @ -745

10:21

PDE Pride Intl provides clarification concerning comments provided on conference call (29.10 -0.16)

Co reported that a transcript of comments made by the company during a conference call hosted on the morning of February 18 to address Pride's fourth quarter and full year 2009 financial results contained an error relating to the level of operating and maintenance costs expected by the company for the first quarter of 2010. During the conference call, management indicated that first quarter 2010 operating and maintenance costs were expected to decline by $6 million compared to the fourth quarter of 2009. A transcript of the call erroneously stated that operating and maintenance costs during the first quarter of 2010 would "climb" by $6 million. A corrected conference call transcript is expected to be available by the close of business today.

10:11

DNDN Dendreon shares spike to session highs on a pick up in volume (32.26 +.25) -Technical-

Technical level in play surround the recent tops @ 32.40~32.50 with 52 week highs @ 32.52.

HoD now @ 32.42

10:05

QQQQ Nasdaq Comp slips to new session low of 2229, back vacillating at 50-day sma at 2229 -Technical-

10:01

UUP Dollar Index pushes up toward early morning high -Technical-

10:00

TECHX Relative Sector Weakness -Update- -Technical-

Sectors that are underperforming as the market averages slip back include: Energy XLE / OIH, Materials XLB, Semi SMH, Ag/Chem MOO, Rail, Solar TAN, Gold Miners GDX.

09:57

TECHX Relatively limited action for stock indices after opening dip but Dow -33 slips to minor new session low, S&P -3.4 and Nasdaq -7.2 weakening but have not confirm the new low -Update- -Technical-

09:55

INWK InnerWorkings announces large scale print management contract with Unilever (5.85 +0.04)

Co announced today that it has entered into a multi-year enterprise print management agreement with Unilever (UN, UL). Under this agreement, Unilever North America will outsource all print, promotional and display related procurement for all of its brands - including direct mail, point of purchase, commercial print, packaging and more - to InnerWorkings.

09:54

FSLR First Solar climbs to modest gap down highs as it lifts up into the 117.00 mark (116.98 -9.29) -Update- -Technical-

09:54

JNJ Johnson & Johnson: CHMP adopts negative opinion for ZEFTERA (63.95 -0.09)

Janssen-Cilag International NV announced =that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has adopted a negative opinion on its Marketing Authorisation Application for the antibiotic ZEFTERA for the treatment of complicated skin and soft tissue infections. Cilag GmbH International has given Basilea Pharmaceutica notice of termination of the worldwide License , Development and Co-Promotion Agreement between the parties. The compound, including pending applications and in-market products, will be transitioned back to Basilea under the terms of the License Agreement. Janssen-Cilag International NV and Cilag GmbH International are Johnson & Johnson companies.

09:53

SLB Schlumberger -- After an initial bounce off of its gap down start, stock reverses back to fresh opening lows as it dips down into the 63.00 area (63.18 -2.56) -Technical-

09:48

TRMB Trimble Navigation shares move to early highs, posting fresh 52 week highs here as price attempts a break out from notable daily chart resistance surrounding the 26.00 level (26.17 +.14) -Technical-

26.00 posed big technical resistance in Aug '09, Dec '09, & Jan '10.

HoD now @ 26.22

09:45

SPY Stock indices still in the red but quickly trim opening slide -- Dow -12, S&P -1.6, Nasdaq -4.1 -Update- -Technical-

09:44

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: SII (+4.68), SHPGY (+3.04), INTU (+2.41), WBMD (+2.09), JCP (+1.72), ADS (+1.68), CLF (+1.29), ECLP (+1.40), UNIS (+1.54), AGP (+1.26), ARUN (+1.17)

Point Losers: FSLR (-10.59), APOL (-5.18), CSIQ (-3.76), RTP (-3.39), SLXP (-3.37), ESI (-2.62), MMSI (-2.94), UTHR (-2.87), ES (-2.42), HME (-2.07), SLB (-1.55)

09:41

XLF Financial Select Sector SPDR stabilizes near initial support zone bounces back near unch (14.37 -0.01) -Update- -Technical-

The XLF was weak off the open but it has held at a support zone noted in The Technical Take at 14.30/14.22 (congestion/Thursday's low) and bounced back near the flat line-- BK +2.8%, GS -0.2%, MS +0.3%, STT +2.2%, USB +0.5%.

09:37

OIH Oil Service HOLDRS Trust displays relative strength in early trade (123.70 +0.88) -Technical-

SII +13.1%, WFT +3.3%, ESV +1.7%, BJS +0.2%, HAL +0.03%, NE +0.6%, RDC +0.3%, RIG +0.9%,

09:31

LEI Lucas Energy announces production increase (0.55 +0.01)

Co announced that daily average production for the first half of February 2010 has increased approximately 28% over the daily average for January 2010. Further, the daily average production from operated wells for the first half of February 2010 has increased 52% over the December 2009 daily average.

09:30

FRZ Reddy Ice announces intention to launch exchange offer and consent solicitation by its operating subsidiary for Reddy Ice's senior discount notes (5.60 -0.21) -Update-

Co intends to offer to exchange in a private placement new senior secured notes of Reddy Corp for the Company's outstanding 10 1/2% Senior Discount Notes due 2012. In conjunction with the exchange offer, Reddy Corp will solicit consents to approve certain amendments to the indenture governing the Old Notes to eliminate certain provisions, including substantially all of the restrictive covenants, eliminate certain events of default and eliminate or modify related provisions contained in such indenture. Holders tendering the Old Notes for exchange will be deemed to consent to the proposed amendments, and holders may not deliver consents in the consent solicitation without tendering their Old Notes.

09:30

FRZ Reddy Ice announces private offering of $300 mln of Senior Secured Notes by its operating subsidiary (5.68 ) -Update-

09:14

DRAM Dataram signs strategic teaming agreement with Government Acquisitions (2.84 )

Co announced the signing of a strategic teaming agreement with Government Acquisitions, provider of IT infrastructure solutions and a trusted advisor to the federal government. The essence of the teaming agreement provides Government Acquisitions the opportunity to exclusively market Dataram products and services to their key customers, and to work towards bringing the cost benefits of the Dataram solutions to the entire federal government. In consideration, Government Acquisitions and Dataram have developed a joint strategy to ensure the federal government, in these times of tight budgets, are exposed to the substantial cost savings which can be garnered using Dataram solutions.

09:12

PCG PG&E beats by $0.06, misses on revs; reaffirms FY10 EPS guidance (42.51 )

Reports Q4 (Dec) earnings of $0.80 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.74; revenues fell 2.9% year/year to $3.54 bln vs the $3.87 bln consensus. PG&E reaffirms FY11 EPS of $3.65-3.85 vs the $3.72 consensus. Co reaffirms guidance for FY10, sees EPS of $3.35-3.50, excluding non-recurring items, vs. $3.40 consensus. Co also reaffirms FY11 EPS of $3.65-3.85 vs the $3.72 consensus. The co is also raising its quarterly common stock dividend from $0.42 per share to $0.455 per share. Co also says the majority of the higher year-over-year earnings from operations results from additional revenues generated by new capital investments in the Utility's infrastructure. The Utility's capital expenditures totaled $3.9 billion for the year, increasing the asset base on which the Utility is allowed to earn its authorized return. In addition to higher revenues from new capital investments, fourth quarter earnings from operations reflect a number of smaller, positive items for recovery of previously incurred costs and improved operational performance.

08:54

COMDX Crude oil erases all of its losses to move into positive territory; now higher by 7 cents to $79.13

08:39

S&P raises Turkey long-term rating to 'BB'; outlook positive

Standard & Poor's Ratings Services said it raised its long-term foreign currency and local currency sovereign credit ratings on the Republic of Turkey to 'BB' and 'BB+', respectively. The 'B' short-term ratings were affirmed. The outlook is positive. The Transfer and Convertibility Assessment was raised to 'BBB-' from 'BB+'. The 'trAA+/trA-1' Turkish national scale credit ratings were affirmed. "The upgrade reflects our view of the Turkish government's improving economic policy flexibility as a result of its strong track record in steadily reducing the debt burden over the past decade," said Standard & Poor's credit analyst Frank Gill. "It also reflects our opinion of the success of Turkey's regulatory institutions in preserving the solidity of the financial sector, despite external adversity. Standard & Poor's believes Turkey's banking system to be one of the strongest and least-leveraged in Eastern Europe."

08:32

SPY E~mini index futures mostly unchanged following Jan. CPI data, still lower but well off overnight lows -Technical-

S&P 500 (ES) -6.00

NDX 100 (NQ) -5.75

INDU 30 (YM) -37

08:32

LLL L-3 Comms to acquire Insight Technology; expected to be immediately accretive to results (89.85 )

Co announces it has entered into an agreement to acquire Insight Technology Inc. Insight develops and manufactures mission critical night vision and electro-optical equipment including laser aiming and illumination devices, laser rangefinders, laser markers and designators, night vision goggles and monoculars, and thermal imaging systems. The purchase price was not disclosed and will be funded with cash on hand. The acquisition is anticipated to be completed in 2Q10, subject to customary closing conditions and regulatory approvals, and will be structured as an asset purchase for income tax purposes. Insight is expected to generate approximately $290 mln of sales for the twelve months ending Dec. 31, 2010. Before giving effect to the present value of tax related benefits of the transaction and expected synergies, the purchase price represents a multiple of approximately nine times estimated 2010 earnings before interest, taxes, depreciation and amortization. The acquisition is expected to be immediately accretive to L-3's results of operations.

08:31

HON Honeywell reaffirms FY10 guidance for sales of $31.3-$32.2 bln (vs $31.8 bln consensus), reaffirms EPS of $2.20-$2.40 vs ($2.38 consensus); also confirms Q1 sales guidance guidance (39.85 )

Co announces it is reaffirming its full-year 2010 financial guidance, including sales of $31.3 - 32.2 bln (vs consensus of $31.8 bln) and EPS of $2.20-$2.40 (vs $2.38 consensus). In addition, the co confirmed first quarter sales guidance of $7.2-$7.6 bln (vs $7.5 bln consensus) and updated its first quarter EPS guidance to $0.40-$0.45 (vs $0.42 consensus), which reflects its "continued strong operational performance and excludes the potential negative impact of proposed healthcare legislation that was previously included in its first quarter EPS guidance."

08:24

MHJ Man Sang Hldgs' wholly owned subsidiary and China Metro-Rural Limited to merge (2.00 )

Co announced that it and Creative Gains Limited, its wholly owned subsidiary, have entered into a definitive merger agreement with China Metro-Rural Limited to combine the companies in an all stock transaction. The transaction is expected to be completed by March 31, 2010. Under the terms of the merger agreement, China Metro shareholders will receive approximately 574,432 ordinary shares of MSBVI for each ordinary share of China Metro they own. MSBVI will issue up to 57,443,238 ordinary shares at $5 per share (representing a premium of approximately 150% of the closing share price of MSBVI ordinary shares at $2 each on February 18, 2010) to the China Metro shareholders in order to acquire China Metro. This represents a total consideration of approximately $287 million. MSBVI shareholders will retain their shares. Upon completion of the transaction, China Metro shareholders will own approximately 90% of the ordinary shares of MSBVI and MSBVI shareholders will own approximately 10% of the ordinary shares of MSBVI. The $5 per share imputed price is not intended to serve as a projection by MSBVI of the trading price of MSBVI's ordinary shares upon or immediately following completion of the merger.

08:17

ECONX Reminder: CPI data due out in about 13 min at 8:30ET

08:13

On The Wires

CAE (CAE) announces that it has sold a CAE 7000 Series full-flight simulator for the Boeing 737-800 aircraft to Skymark Airlines. This contract, in addition to the contract with Turkish Airlines, brings the total FFS sales that CAE has announced so far during fiscal year 2010 to 16... Silver Standard Resources (SSRI) announces that it has entered into an agreement to sell 100% of its interest in the Silvertip Project to Silvercorp Metals for total consideration of CDN$15.0 million, with up to CDN$7.5 million payable in common shares of Silvercorp. Subject to the satisfaction of customary closing conditions, the completion of the transaction is expected to take place on or about February 26, 2010, or such other date as agreed upon between the parties... Amazon.com (AMZN) announces that authors and publishers around the world can now use the self-service Kindle Digital Text Platform to upload and make available their books in Spanish, Portuguese and Italian to customers worldwide in the Kindle Store... Drew Industries Incorporated (DW) reports that its wholly-owned subsidiary, Lippert Components, agreed in principle to acquire certain intellectual property and other assets from Michigan-based Schwintek... Taiwan Semiconductor Manufacturing Company (TSM) and MAPPER Lithography revealed that a pre-alpha MAPPER tool located on TSMC's Fab 12 GigaFab is repeatedly printing features previously unachievable using current immersion lithography technology... TASER International (TASR) announces that its first significant deployment of EVIDENCE.COM to manage the audio/video data from the national deployment of TASER X26 Electronic Control Devices and TASER CAM devices. The EVIDENCE.COM contract provides support for a recent procurement of 777 TASER X26 ECDs and TASER CAM devices in the fourth quarter of 2009... Canpotex, marketing company owned by Agrium (AGU), Mosaic (MOS) and Potash Corp (POT) has concluded a new second-quarter supply contract to India covering shipments through June 2010 at a contract price of US $370.00/MT CFR.

08:05

BAM Brookfield Asset Mngmt beats by $0.03, beats on revs (22.97 )

Reports Q4 (Dec) earnings of $0.15 per share, $0.03 better than the First Call consensus of $0.12; revenues rose 14.7% year/year to $3.46 bln vs the $3.26 bln consensus. Bruce Flatt, CEO of Brookfield, commented that, "Our renewable power and office property businesses generated strong operating cash flows during the quarter and throughout the year. The stable revenue profiles of these businesses provide us with a strong earnings base in order to continue to pursue investment opportunities at this exceptional point in the market cycle."

08:04

BRC Brady misses by $0.01, beats on revs; guides FY10 EPS in-line (29.88 )

Reports Q2 (Jan) earnings of $0.33 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.34; revenues rose 11.0% year/year to $295.8 mln vs the $292.1 mln consensus. Co reiterates prior guidance for FY10, sees EPS of $1.60-1.80, excluding non-recurring items, vs. $1.77 consensus.

08:02

SRT StarTek misses by $0.03, misses on revs (7.50 )

Reports Q4 (Dec) earnings of $0.06 per share, $0.03 worse than the First Call consensus of $0.09; revenues fell 1.2% year/year to $72.5 mln vs the $74.1 mln consensus. Gross margin was 16.2% in 4Q09, compared to 10.9% in 4Q08, and 18.6% in 3Q09. The decline from the third quarter of 2009 was due to a soft holiday season and increased training expenses, resulting from a previously disclosed hiring issue.

08:01

PAG Penske Auto beats by $0.01, beats on revs; announces authorization for it to repurchase up to $150 mln of its outstanding common stock (15.35 )

Reports Q4 (Dec) earnings of $0.20 per share, $0.01 better than the First Call consensus of $0.19; revenues rose 13.5% year/year to $2.44 bln vs the $2.19 bln consensus. The co's Board of Directors has granted new authorization for it to repurchase up to $150 mln of its outstanding common stock.

08:00

STWD Starwood Property Trust to acquire $503 mln diversified loan portfolio (18.10 )

Co announced that it has signed a definitive agreement to acquire a $503 million portfolio of performing commercial mortgages from TIAA-CREF for approximately $510 million, plus accrued interest. The fixed-rate portfolio consists of 18 senior first mortgage A-notes and 2 junior first mortgage B-notes secured by retail and office assets totaling 4.5 million square feet across 10 states. The weighted average debt yield on the portfolio is 17.7% with a weighted average remaining term of 1.7 years and a weighted average coupon of 7.75%. The debt service coverage ratio on the portfolio is approximately 1.8x.

08:00

JCP JC Penney beats by $0.02, reports revs in-line; guides Q1 EPS in-line; guides FY11 EPS above consensus (25.96 )

Reports Q4 (Jan) earnings of $0.84 per share, $0.02 better than the First Call consensus of $0.82; revenues fell 3.6% year/year to $5.55 bln vs the $5.54 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.16-0.20 vs. $0.18 consensus, with comps flat to slightly positive with total sales 30 bps below the comp projection (consensus -2.5%, -1.4%, respectively). Co issues upside guidance for FY11, sees EPS of ~$1.55 vs. $1.45 consensus, with comps increasing in the low-single digits with total sales 30-50 bps below the comp projection (consensus -0.1%, +0.4%, respectively). Q4 gross margin increased 360 basis points over last year to 38.2 percent of sales. Q4 comps were -4.5% vs the -4.7% consensus. "Our disciplined approach to inventory planning, promotions and SG&A served us well, particularly in the fourth quarter with a planned lower sales volume. As a result, we were able to achieve new peak gross margin levels for the year, which led to better-than-expected profitability and cash flow generation.

07:54

COMDX Crude oil trades to its best levels of the morning at $78.64; currently down 51 cents to $78.55

07:48

MATW Matthew's elects new Chairman of the Board (33.20 )

Co announces that John Turner has been named as the company's new Chairman of the Board of Directors. Following the company's Annual Shareholders' Meeting on Feb. 18, 2010, the Board of Directors elected Mr. Turner as Chairman. William Stallkamp, the company's former Chairman, retired from the Board upon the close of the Shareholders' Meeting.

07:35

BIIB FDA approves Rituxan plus chemotherapy for the most common type of adult leukemia (55.98 )

Genentech, a wholly owned member of the Roche Group, and Biogen Idec announce the FDA approved Rituxan in combination with fludarabine and cyclophosphamide for people with previously untreated and previously treated CD20-positive chronic lymphocytic leukemia.

07:34

TASR TASER beats by $0.05, beats on revs (6.58 )

Reports Q4 (Dec) earnings of $0.07 per share, $0.05 better than the First Call consensus of $0.02; revenues rose 30.7% year/year to $34.5 mln vs the $31.1 mln consensus. Federal and military sales increased significantly during Q4 2009, partly due to the first order of 2,500 TASER X26 ECDs and related accessories shipped under an indefinite delivery/indefinite quantity contract from the United States Army Garrison Rock Island Arsenal. In addition, The United States Marshals Service ordered 443 X26 ECDs. International sales represented 17% of net sales and 19% of adjusted revenues for Q4 2009. Significant shipments during Q4 2009 included follow-on orders from Australia, New Zealand and Brazil. This excludes the impact of revenue deferred for GAAP purposes relating to the X26 to X3 trade-in program.

07:31

CF CF Industries: Agrium extends exchange offer for CF Industries to March 22, 2010 (102.01 )

Agrium (AGU) announced that it has extended the expiration date of its offer to acquire CF for $45.00 in cash plus one Agrium share per CF share until 12:00 midnight, New York City time, on March 22, 2010.

07:31

HMSY HMS Holdings reports EPS in-line, revs in-line (48.21 )

Reports Q4 (Dec) earnings of $0.33 per share, in-line with the First Call consensus of $0.33; revenues rose 26.5% year/year to $66.3 mln vs the $65.8 mln consensus. "HMS completed another strong quarter to close full year 2009 with record increases in revenue and earnings," said Bill Lucia, CEO. "We expanded our product portfolio, entered new markets and completed two acquisitions to further diversify our business. The high levels of expenditure growth in Medicaid and the demand for healthcare cost containment programs continue to drive our growth."

07:31

FSYS Fuel Systems Solutions sees FY09 revs of ~$450 mln vs $426.02 mln First Call consensus (30.08 )

The co currently expects, based on a preliminary analysis of fourth quarter 2009 results, full year 2009 revenue of approximately $450 million vs. $426 mln First Call Consensus), substantially above its outlook for $415 million to $425 million; 2009 gross margin and operating margin are expected at least to reach the higher end of their respective outlook ranges of 30%-32% and 14%-16%. Commenting on the preliminary results, Fuel Systems' CEO Mariano Costamagna said, "Our business gained momentum in the fourth quarter of 2009, benefiting from the uncertain future of the Italian vehicle incentive environment. As a result, we expect our 2009 results to exceed our outlook by a magnitude we felt important to communicate prior to our normal fourth quarter reporting. Drawing on the flexibility inherent in our delayed original equipment manufacturer (DOEM) model, in 2009 we expanded our capacity to supply the growing market in Europe and Italy in particular, and delivered over 183,000 installations, a greater than threefold increase compared to 2008."

07:26

GNVC Genvec announces $3.8 mln contract with the Department of Homeland Security (2.45 )

Co announced a new contract with the Department of Homeland Security (DHS) to continue the development of adenovector-based vaccines against foot-and-mouth disease (FMD) based on research and development done in collaboration with USDA-ARS and DHS S&T scientists at the Plum Island Animal Disease Center. Under this new agreement, GenVec will receive $3.8 mln in program funding the first year and an additional $0.7 mln if DHS exercises its renewal option under the contract. Under this contract, GenVec will use its adenovector technology to develop additional FMD-serotype candidate vaccines. GenVec will also explore methods to increase the potency and simplify the production process of FMD vaccines developed under this contract as well as its previous contract with the DHS announced in 2007.

07:26

CSIQ Canadian Solar now expects its gross margin to be in the mid-teens compared to prior expectations for the high-teens on a percentage basis (24.74 )

Co says that while shipments for the fourth quarter 2009 are expected to be slightly higher than prior guidance for shipments of approximately 128 MW to 138 MW, the co now expects its gross margin to be in the mid-teens compared to prior expectations for the high-teens on a percentage basis. The expected gross margin variance is due to higher processing costs and lower yields caused by certain defective production equipment at its new ingot and wafer plant. The co is in the process of correcting these issues with the equipment vendor. The margin variation in the fourth quarter 2009 is also due to the clearing and revaluing of certain aged solar cell inventory, partly caused by the reduction of module ASP in December 2009.

07:25

GNCV GenVec Announces $3.8mln Contract With The Department of Homeland Security (2.45 )

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07:25

GNCV GenVec Announces $3.8mln Contract With The Department of Homeland Security (2.45 )

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07:25

GNCV GenVec Announces $3.8mln Contract With The Department of Homeland Security (2.45 )

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07:19

HDNG Hardinge: Romi responds to Hardinge's rejection of acquisition offer (8.35 )

Industrias Romi S.A. responded to the Hardinge rejection of Romi's previously announced all-cash offer to acquire all of the outstanding shares of Hardinge for $8.00 per share. The offer is not subject to any financing condition and will be funded entirely from Romi's internal resources. "We are disappointed that despite the positive response to our offer from Hardinge shareholders, Hardinge's Board continues to refuse to engage in any meaningful dialogue to discuss our all-cash offer... Based on Hardinge's fourth quarter and full year 2009 results and outlook announced yesterday, it is difficult to understand how Hardinge can deliver equivalent or superior value for its shareholders as a stand-alone enterprise in the near- to mid-term. We believe that any objective analysis would clearly confirm that our offer is in the best interests of Hardinge's shareholders, offering them immediate liquidity at superior value... If necessary, we may have no other alternative but to take our offer directly to Hardinge shareholders."

07:17

SHPGY Shire Plc beats by $0.52, beats on revs; sees Q1 sales and EPS down YoY, FY10 growth on top and botttom line; both in-line (60.96 )

Reports Q4 (Dec) earnings of $1.11 per share, excluding non-recurring items, $0.52 better than the First Call consensus of $0.59; revenues rose 16.6% year/year to $893.3 mln vs the $689.9 mln consensus. 2010 outlook: "We enter 2010 with good momentum driven by the growth of our core product portfolio. 2010 will also benefit from the change in best estimate for ADDERALL XR rebates implemented in 4Q09 against a background of further erosion of the brand and the impact of adverse business mix trends. In the first quarter of 2010 we expect our total revenues and Non GAAP diluted earnings per ADS to be lower than the same period in 2009 (consensus calls for a -13% and -43%, respectively), which was the last quarter before ADDERALL XR faced generic competition. For the balance of the year Shire expects to generate both total revenue growth and Non GAAP diluted earnings per ADS growth compared to 2009 (consensus +7.0% and +8.1%, respectively). During 2010 we expect to see gross margins as a percentage of product sales at a similar level to 2009. We will further increase our focused investment in R&D and targeted investment will increase SG&A year on year. We expect a Non GAAP effective tax rate in 2010 at a similar level to 2009. We look forward to growing both total revenues and reported Non GAAP diluted earnings per ADS in the full year 2010 compared to the excellent 2009 Non GAAP results and re-iterate our aspirational target of mid-teen revenue growth on average between 2009 and 2015."

07:10

DEPO Depomed comments on DM-1796 pre-NDA meeting and Horizant Complete Response Letter (2.49 )

Co announces that it has received final meeting minutes from the FDA for a pre-NDA meeting related to DM-1796 for postherpetic neuralgia held in December 2009. Depomed also commented on recent public disclosures related to the Complete Response letter from the FDA regarding the New Drug Application for Horizant Extended-Release Tablets. Depomed noted that unlike Horizant, Depomed's proprietary extended release formulations of gabapentin are not new chemical entities that require additional carcinogenicity or other toxicology studies. Depomed expects an NDA for DM-1796 will be filed in the first quarter of this year under Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act. Depomed believes that no additional carcinogenicity studies will be required for the DM-1796 NDA because it will reference the same toxicology package that formed the basis of the approval of Neurontin for epilepsy and postherpetic neuralgia.

07:03

HUN Huntsman beats by $0.39, beats on revs (12.37 )

Reports Q4 (Dec) earnings of $0.27 per share, $0.39 better than the First Call consensus of ($0.12); revenues rose 2.3% year/year to $2.1 bln vs the $1.97 bln consensus. Peter R. Huntsman, our President and CEO, stated: "Results from our most recent fourth quarter are very encouraging; we have seen our business results improve from last year when we reported $51 million of Adjusted EBITDA to this year when we reported $165 million. During 2009, we eliminated more than $150 million of costs from our business and reduced working capital needs by nearly $500 million. Despite the challenging economic conditions in 2009, we were able to maintain consistent margins on a per unit basis throughout our business. During the fourth quarter of 2009 our volumes increased 13 percent compared to the prior year, but still fell short of normalized demand. As demand continues to improve, we expect to see improved earnings." Peter R. Huntsman, our President and CEO, stated: "Results from our most recent fourth quarter are very encouraging; we have seen our business results improve from last year when we reported $51 million of Adjusted EBITDA to this year when we reported $165 million. During 2009, we eliminated more than $150 million of costs from our business and reduced working capital needs by nearly $500 million. Despite the challenging economic conditions in 2009, we were able to maintain consistent margins on a per unit basis throughout our business. During the fourth quarter of 2009 our volumes increased 13 percent compared to the prior year, but still fell short of normalized demand. As demand continues to improve, we expect to see improved earnings."

07:02

LPNT Lifepoint Hospitals beats by $0.11, reports revs in-line; guides FY10 EPS in-line, revs in-line (30.40 )

Reports Q4 (Dec) earnings of $0.71 per share, $0.11 better than the First Call consensus of $0.60; revenues rose 10.7% year/year to $746.9 mln vs the $746.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.50-2.80 vs. $2.66 consensus; sees FY10 revs of $3.1-3.2 bln vs. $3.13 bln consensus. Co also sees adjusted EBITDA of $470 - $500 mln.

07:02

RUTH Ruth's Hospitality Group beats by $0.05, reports revs in-line (3.76 )

Reports Q4 (Dec) earnings of $0.11 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.06; revenues fell 9.8% year/year to $87.4 mln vs the $87.1 mln consensus. Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 11.2%. Company-owned comparable restaurant sales for Mitchell's Fish Market decreased 2.5%. Co is providing the following outlook for 2010: Cost of goods sold of 29% to 30% of restaurant sales; General and administrative expenses of $22 million to $24 million; Effective tax rate of 20% to 25%; One Company-owned Mitchell's Fish Market opening; One to three franchised Ruth's Chris Steak House openings; Capital expenditures of $7 million to $8 million.

07:02

MDZ MDS Inc intends to make a Substantial Issuer Bid (8.10 )

Co intends to make a Substantial Issuer Bid pursuant to which it will offer to repurchase for cancellation up to between 40% and 46% of its outstanding Common Shares for an aggregate purchase price of up to $450 mln. The offer will proceed by way of a "modified Dutch auction", pursuant to which MDS shareholders may deposit all or a portion of their Common Shares (i) at a price of not less than $8.10 and not more than $9.30, in increments of $0.05 per share; or (ii) without specifying a purchase price, in which case their Common Shares will be purchased at the purchase price determined in accordance with the offer. When the offer expires, MDS will select the lowest price within the range of prices specified above enabling it to purchase up to $450 mln of Common Shares. Shareholders will receive the purchase price in cash for Common Shares deposited at prices equal to or less than the purchase price, subject to proration in the event that the aggregate cost to purchase all of the Common Shares deposited at or less than the purchase price exceeds $450 mln.

06:36

IBI Interline Brands reports EPS in-line, revs in-line (18.22 )

Reports Q4 (Dec) earnings of $0.19 per share, in-line with the First Call consensus of $0.19; revenues fell 8.3% year/year to $254.6 mln vs the $254.5 mln consensus. Interline's facilities maintenance end-market, which comprised 71% of sales, declined 3.7% during the fourth quarter on an average daily sales basis. The professional contractor end-market, which comprised 17% of sales, declined 20.2% for the quarter. The specialty distributor end-market, which comprised 12% of sales, declined 15.0% for the quarter. Gross profit decreased $6.0 million, or 5.9%, to $96.8 million for the fourth quarter of 2009, compared to $102.8 million for the fourth quarter of 2008. As a percentage of net sales, gross profit increased 100 basis points to 38.0% compared to 37.0% for the fourth quarter of 2008. "We believe the worst may now be behind us, but visibility remains low and we anticipate continued variability within our end-markets. Looking ahead to the first quarter of 2010, we expect the demand environment to remain similar to what we experienced over the past few months. While cash flow generation remains a key focus for us, we do not expect to duplicate the record free cash flow we generated in 2009 as we enter the year leaner and more efficient from a working capital perspective."

06:35

ISPH Inspire names Adrian Adams as President and Chief Executive Officer (5.98 )

Co announces that it has named Adrian Adams as President and Chief Executive Officer of Inspire, and elected Mr. Adams to its Board of Directors, both effective February 22, 2010. Mr. Adams, age 59, is a highly qualified pharmaceutical executive who most recently successfully led the growth and corporate development of two publicly traded companies.

06:34

AMWD American Wdmrk misses by $0.34, misses on revs (20.02 )

Reports Q3 (Jan) loss of $0.64 per share, $0.34 worse than the First Call consensus of ($0.30); revenues fell 32.0% year/year to $89.2 mln vs the $101.2 mln consensus.

06:22

S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -12.50.

06:22

Asian Markets

Nikkei...10123.58...-212.10...-2.10%. Hang Seng...19894.02...-528.10...-2.60%.

06:22

European Markets

FTSE...5309.53...-15.60...-0.30%. DAX...5655.12...-25.10...-0.40%.

06:17

VGZ Vista Gold announces dismissal of change of forest land use permit application for the Paredones Amarillos Gold project (2.22 )

Co announces it has received notice from the Mexican Secretariat of Environment and Natural Resources that SEMARNAT has dismissed, on administrative grounds, MPA's application for the Change of Forest Land Use Permit for the Company's Paredones Amarillos gold project in Baja California Sur, Mexico. Specifically, SEMARNAT dismissed the CUSF application, without a review of its substantive merit, for MPA's alleged failure to satisfy certain procedural and informational requirements. The CUSF is required before the Company can commence construction of the Paredones Project. The Company is currently amending its CUSF application to address SEMARNAT's specific procedural and informational requirements and intends to re-file the application shortly.

06:14

UTHR United Therapeutics withdraws European Marketing authorization application for Tyvaso for the treatment of pulmonary arterial hypertension (56.01 )

Co announces that it has withdrawn its Marketing Authorization Application for Tyvaso (treprostinil sodium) 0.6 mg/ml nebuliser solution for the treatment of pulmonary arterial hypertension in the European Union. United Therapeutics submitted its MAA for Tyvaso to the European Medicines Agency in December 2008. The data included in the MAA is based upon clinical work performed from 2005 to 2007 by United Therapeutics' wholly-owned subsidiary Lung Rx, LLC. The MAA was withdrawn following communication from the Committee for Medicinal Products for Human Use of the EMA citing a major objection. The major objection noted that findings of non-compliance with good clinical practices at two clinical sites would preclude a recommendation by the EMA for approval of the MAA for Tyvaso. "Notwithstanding the fact that the EMA's major objection noted findings of non-compliance with good clinical practices, it is important to note that there were no major objections related to the safety or efficacy of Tyvaso, Our revenue growth targets are unaffected by the withdrawal,"

06:13

AGP Amerigroup beats by $0.51, reports revs in-line (24.73 )

Reports Q4 (Dec) earnings of $0.79 per share, $0.51 better than the First Call consensus of $0.28; revenues rose 18.5% year/year to $1.36 bln vs the $1.36 bln consensus. Sequentially, premium revenues increased $58.7 million, or 4.5%, compared with the 3Q09. The sequential increase primarily reflects the impact of rate increases in Tennessee and Georgia as well as membership gains in the Temporary Aid for Needy Family product in most markets.

06:05

NVAX Novavax presents positive clinical results at WHO conference (2.42 )

Co presents a summary of the recent preliminary safety and immunogenicity data from its Pivotal 2009 A/H1N1 VLP pandemic influenza vaccine study in Mexico. The presentation of the results were made by Maria Allende, M.D., at the invitation-only 6th WHO Meeting on Evaluation of Pandemic Influenza Vaccines in Clinical Trials, held at the WHO headquarters in Geneva, Switzerland. In this study, 1,000 healthy volunteers aged 18 to 64 years old were enrolled to receive two doses of 5 mcg, 15 mcg or 45 mcg of Novavax's 2009 H1N1 influenza VLP or a placebo to determine the safety and immunogenicity of the vaccine. Preliminary results at Day 14 after a single dose of Novavax's 2009 H1N1 VLP pandemic influenza vaccine from approximately 500 subjects showed that the vaccine was well tolerated at all three dose levels and exhibited no systemic side effects and mostly mild local site reactions, similar to placebo.

02:40

ES EnergySolutions names Val John Christensen as President and Chief Executive Officer, effective immediately (7.79 )

02:02

ACTG Acacia Research misses by $0.16, beats on revs (9.14 )

Reports Q4 (Dec) loss of $0.15 per share, $0.16 worse than the First Call consensus of $0.01; revenues rose 8.7% year/year to $19.9 mln vs the $15 mln consensus.

01:58

BLDR Builders Firstsource beats by $0.05, misses on revs (3.00 )

Reports Q4 (Dec) loss of $0.37 per share, excluding non-recurring items, $0.05 better than the First Call consensus of ($0.42); revenues fell 20.2% year/year to $154 mln vs the $156.8 mln consensus.

01:54

WRE Washington REIT beats by $0.03, beats on revs; guides FY10 FFO in-line (26.70 )

Reports Q4 (Dec) funds from operations of $0.50 per share, $0.03 better than the First Call consensus of $0.47; revenues rose 7.7% year/year to $77.9 mln vs the $75 mln consensus. Co issues in-line guidance for FY10, sees FFO of $1.86-2.00 vs. $1.89 consensus.

01:46

BUCY Bucyrus beats by $0.15, beats on revs (62.88 )

Reports Q4 (Dec) earnings of $1.07 per share, $0.15 better than the First Call consensus of $0.92; revenues rose 20.2% year/year to $645.8 mln vs the $624.4 mln consensus. The decrease in surface mining original equipment sales for the quarter and year ended December 31, 2009 compared to the same periods for 2008 was primarily due to decreased electric mining shovels sales, which was partially offset by increased revenue from the manufacture and assembly of walking draglines for customers in Australia and Canada. The increase in surface mining aftermarket parts and service sales for the quarter and year ended December 31, 2009 compared to the same periods for 2008 was in most markets, with the largest increase occurring in the Chilean market. Aftermarket sales in the U.S. market for the quarter ended December 31, 2009 declined from the same period last year and approximated 2008 levels for the full year of 2009. Total surface mining sales were positively impacted by approx $14 mln for 4Q09 and negatively impacted by approx $21 mln for the year ended December 31, 2009 due to the effect of the U.S. dollar on sales denominated in foreign currencies compared to the same periods for 2008. Bucyrus' capital expenditures for 2010 are expected to be between $60 million and $70 million, which does not include its pending Terex Mining acquisition.

01:40

ARYX ARYx Therapeutics retains Cowen and Co to explore strategic options (2.84 )

Co announces that it has retained Cowen and Co to explore strategic options for ARYx. While discussions continue with pharmaceutical companies regarding the licensing of its oral antiarrythmic agent, budiodarone, the companies with whom ARYx was engaged in advanced discussions have recently indicated that they do not intend to proceed to an agreement. As a result, it has become clear that ARYx will not complete a partnership on the product in the near term. By retaining Cowen, ARYx will explore the possibility of capturing full near-term value for its three lead programs rather than pursuing licensing deals that provide value over an extended period of time. In conjunction with this action, ARYx has also completed a substantial reorganization, reducing the number of employees to fewer than 20.

01:36

NVS Novartis drug Tasigna receives FDA priority review for newly diagnosed patients with early-stage chronic myeloid leukemia (54.81 )

Co announces that Tasigna 200 mg capsules has been granted priority review by the FDA for the treatment of adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase. Tasigna demonstrated that significantly fewer patients progressed to more advanced stages of the disease than the standard of care Gleevec tablets at 12 months. Tasigna also showed a statistically significant improvement over Gleevec in every other measure of efficacy in the trial, including major molecular response and complete cytogenetic response at 12 months. In addition to the US, regulatory submissions have been filed in the EU and Japan.

18:25

Futures are lower after hours with S&P 500 futures 8.95 points below fair value of 1105.05 and Nasdaq 100 futures 14.827 points below value of 1822.82

17:57

GSK GlaxoSmithKline: GSK statement on FDA's proposed label revisions for some asthma medicines (38.84 -0.52)

Co is reviewing label changes proposed today by the US Food and Drug Administration (FDA) for asthma medications containing long-acting beta-agonists (LABAs), such as GSK's Advair (salmeterol / fluticasone propionate). GSK and makers of the other affected medicines containing LABAs have 30 days to agree with the proposed changes or state why they are not warranted. The FDA's action relates to asthma and does not pertain to the chronic obstructive pulmonary disease (COPD) indication for Advair. The available data were reviewed by three FDA advisory committees that met jointly in December 2008 and voted unanimously that Advair has a positive benefit-risk profile as currently labeled for adult patients. No new data have entered into FDA's decision-making. There is no evidence from more than 10 years of data from clinical trials, observational studies and worldwide clinical experience exceeding 30 million patient-years of use that Advair is associated with an increased risk of asthma-related death, hospitalization or other serious respiratory-related outcomes in any age group. There have been no asthma-related deaths in clinical trials involving nearly 18,000 patients taking Advair.

17:40

BEE Strategic Hotels & Resorts amends and extends loan securing intercontinental Prague Hotel (2.39 )

BEE announced that the co has entered into an amendment with Aareal Bank AG on the euro 104 mln non-recourse loan securing the InterContinental Prague Hotel. Under the terms of the amendment, the loan remains non-recourse and the maturity was extended by three years from its initial maturity of March 2012 to March 2015

17:37

GTY Getty Realty Corp. beats by $0.02 (22.09 +0.21)

Reports Q4 (Dec) adjusted earnings funds from operations of $0.51 per share, $0.02 better than the First Call consensus of $0.49; revenues rose 9.3% year/year to $22.5 mln vs the $20.3 mln consensus.

17:24

UAM Universal American Corp beats by $0.25, beats on revs; guides FY10 EPS above consensus (14.52 +0.36)

Reports Q4 (Dec) earnings of $1.21 per share, excluding non-recurring items, $0.25 better than the First Call consensus of $0.96; revenues rose 10.9% year/year to $1.2 bln vs the $1.18 bln consensus. Co issues upside guidance for FY10, sees EPS of ~$1.70-1.80, excluding non-recurring items, vs. $1.68 consensus.

17:20

GKSR G&K Svcs resolves 2008 environmental matter; settlement will not impact Q3 earnings (24.41 +0.62)

Co announced that it has reached a settlement with Connecticut's Department of Environmental Protection regarding allegations involving its Waterbury, Connecticut industrial laundry operations. This settlement relates to a previously disclosed matter dating back to 2008 regarding alleged failure by the company to properly permit and operate installed air pollution control equipment. The amount of the financial settlement is within previously established reserves and will not impact the co's third quarter earnings.

17:20

THG The Hanover Insurance Group prices a $200 mln senior notes offering (41.74 +0.25)

Co announced that it has priced a registered senior unsecured offering of $200 mln aggregate principal amount of its 7.50% senior notes due March 1, 2020. The co plans to use the net proceeds of the offering for general corporate and working capital purposes, which may include repurchase of shares of the co's common stock, capital expenditures, possible acquisitions and any other general corporate purposes.

17:18

ETE Energy Transfer Equity beats by $0.16, misses on revs (32.31 -0.11)

Reports Q4 (Dec) earnings of $0.62 per share, $0.16 better than the First Call consensus of $0.46; revenues fell 16.1% year/year to $1.51 bln vs the $1.83 bln consensus.

17:17

VNO Vornado Rlty Trust declared quarterly preferred dividends (64.83 +0.99)

Co declared the following quarterly preferred dividends: Series A Convertible $ .8125000 per share; Series E Cumulative Redeemable $ .4375000 per share; Series F and H Cumulative Redeemable $ .4218750 per share; Series G and I Cumulative Redeemable $ .4140625 per share... These are all unchanged from prior.

17:15

ETP Energy Transfer beats by $0.16, misses on revs (46.02 +0.02)

Reports Q4 (Dec) earnings of $0.91 per share, $0.16 better than the First Call consensus of $0.75; revenues fell 16.1% year/year to $1.51 bln vs the $1.69 bln consensus.

17:10

CPEX CPEX Pharmaceuticals announces Arcadia Opportunity Master Fund withdraws previously stated intention to submit shareholder proposals and nominate director slate (16.26 +0.32)

17:09

DM Dolan Media will increase its ownership interest in National Default Exchange (10.70 +0.20)

Co said that it will increase its ownership interest in National Default Exchange, or NDeX, from 92.3% to 93.8% through redemption of a minority interest in NDeX. Feiwell & Hannoy PC, NDeX's law firm client in Indianapolis, is selling its 1.7% minority interest in NDeX. The sale is occurring through a redemption by NDeX and is expected to close February 28.

17:07

WRE Washington REIT announced the election of John P. McDaniel as Chairman; take office upon the retirement of Edmund B. Cronin (26.70 +0.31)

17:07

SEM Select Medical beats by $0.07, misses on revs; guides FY10 revs in-line (8.80 -0.04)

Reports Q4 (Dec) earnings of $0.20 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.13; revenues rose 4.8% year/year to $573.5 mln vs the $579.6 mln consensus. Co reaffirms in-line guidance for FY10, sees FY10 revs of $2.38-2.42 bln vs. $2.41 bln consensus.

17:01

COBK Colonial Bankshares announces adoption of plan of conversion and reorganization (6.49 -0.11)

Co adopted a Plan of Conversion and Reorganization pursuant to which the Bank will reorganize from the two-tier mutual holding company to the stock holding company structure and will undertake a "second-step" offering of new shares of common stock. As part of the conversion and reorganization, the Bank will become a wholly owned subsidiary of a to-be-formed state chartered stock holding company and shares of common stock of the Mid-Tier held by persons other than the MHC (whose shares will be canceled) will be converted into shares of common stock of the New Holding Company pursuant to an exchange ratio intended to preserve the percentage ownership interests of such persons. The New Holding Company will also offer and sell shares of its common stock to the Bank's eligible depositors and borrowers, tax-qualified employee benefit plans and to members of the general public in a subscription and community offering and, if necessary, a syndicated community offering or an underwritten public offering.

17:01

IEP Icahn Enterprises acquires Fontainebleau property in Las Vegas for ~$150 mln (47.97 +1.04)

Co announced that certain of its indirect subsidiaries have acquired from Fontainebleau Las Vegas and certain affiliated entities the Fontainebleau property and improvements thereon located in Las Vegas, Nevada for an aggregate purchase price of approximately $150 mln. The Fontainebleau property includes an unfinished building of approximately 7 mln square feet that is situated on approximately 25 acres of land.

17:01

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