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

Sep 21, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 21-Sep-10 00:00 ET

18:29

GORO Gold Resource executes $55.6 mln private placement to accelerate production profile and exploration (18.60 +0.15)

GORO's private placement consists of 3.475 mln shares of restricted common stock at $16.00 per share with no warrants.

18:25

CHTR Charter prices $1 bln senior notes offering (34.50 ) -Update-

Co announced that its subsidiary, CCO Holdings, LLC, has priced its previously announced offering of Senior Notes due 2017. The transaction was upsized to $1 billion from the initial announcement amount of $750 mln. The 2017 Notes will have an annual interest rate of 7.25%, with interest paid semi-annually in April and October.

18:20

GLD December gold is trading just below the unchanged line after hours; now -$0.80 at $1280.00 per ounce (124.87 +0.33)

18:17

USO October crude oil is trading lower after hours; now -$0.63 at $74.23 per barrel (33.22 +0.57)

17:58

HTZ Hertz Global Holdings announces pricing of $400 mln private offering of senior notes by the Hertz Corp (11.16 +0.17) -Update-

Co announced that its wholly owned subsidiary, The Hertz Corp, had entered into an agreement to sell $400 mln aggregate principal amount of 7.50% Senior Notes due 2018 in a private offering. The notes are expected to constitute a further issuance of, will be fungible with and will be consolidated and form a single series with the 7.50% Senior Notes due 2018 priced on Sept 16, 2010 in the aggregate principal amount of $300 mln and anticipated to be delivered on Sept 30, 2010

17:24

Futures are trading lower after hours: S&P 500 futures are -1.18 from fair value of 1137.78 and Nasdaq100 futures -5.47 points from fair value of 1987.22

17:11

CLF Cliffs Natural Resources announces Asia Pacific iron ore infrastructure upgrades (61.81 +0.85)

Co announced that its Board of Directors has approved a capital project at its Koolyanobbing Complex in Western Australia. The project, which requires ~$320 mln Australian dollars of incremental capital investment, is expected to allow the Koolyanobbing Complex to produce ~11 mln tonnes annually.

17:05

HPQ HP and Oracle reaffirmed their long-term strategic partnership and the resolution of litigation regarding Mark V. Hurd's employment at ORCL (39.39 +0.25)

Co announced while the terms of the settlement are confidential, Mr. Hurd will adhere to his obligations to protect HP's confidential information while fulfilling his responsibilities at ORCL. The agreement also reaffirms HP and Oracle's commitment to delivering the best products and solutions to their more than 140,000 shared customers.

17:03

HME Home Properties raises Q3 guidance (53.49 +2.08)

Co raises Q3 funds from operations (FFO's) guidance; co now expects Q3 FFO per share to be at the high end of, or slightly above its prior guinance of $0.73-0.77; co is now expecting, based on prelim results, FFO's in the range of $0.76-0.80 vs. $0.77 Thomson Reuters consensus. Co also raises FY10 FFO's of $2.98-3.06 vs. $3.01 consensus. Co expects same-store revenue growth to be slightly positive in Q3, which would be the first increase in YoY revenue since Q1 2009.

17:00

CWH CommonWealth REIT announces redemption of remaining 7 mln shares outstanding of 8 3/4 % Series B cumulative redeemable preferred shares (28.00 +0.70)

Co announced that it will redeem the remaining 7 million shares outstanding of its 8 3/4% Series B Cumulative Redeemable Preferred Shares at the stated Liquidation Preference price of $25 per share plus accrued and unpaid dividends to the date of redemption. This redemption is expected to occur on or about October 21, 2010.

16:48

DVAX Dynavax announces $30 mln at-the-market common stock purchase agreement (1.70 +0.08)

Co announced that Aspire Capital Fund, LLC has purchased 1 mln shares of DVAX common stock at $2.00 per share, representing a 23% premium to the closing market price on September 17, 2010. The investment was made in connection with a $30 mln At-The-Market common stock purchase agreement under which Aspire Capital has committed to purchase up to an additional $28 mln of DVAX common stock over the next 25 months.

16:47

CP Canadian Pacific announces a $350 million debt offering and a prepayment to its pension plans (62.26 +0.58)

16:40

ZN Zion Oil to launch rights offering of units of its securities (5.62 -0.14)

Co announced that it intends to launch a rights offering. Under the rights offering, ZN will distribute non-transferable subscription rights to holders of ZN's common stock on the close of business on the record date of September 28, 2010, to purchase their pro rata portion of ~3.8 mln Units of ZN's securities. Each Unit will consist of one (1) share of ZN's common stock and one (1) warrant to purchase an additional share of ZN's common stock at an exercise price of $4.00.

16:36

JAXB Jacksonville Bancorp and Atlantic BancGrouP (ATBC 2.50) announce revised merger agreement and stock purchase agreement terms (8.25 +0.50)

The cos announced an amendment to their previously announced merger agreement. JAXB also announced an amendment to its previously announced stock purchase agreement with four investors led by CapGen Capital Group IV LP. The amount of capital to be raised under the stock purchase agreement has been increased from $30 million to $35 million and the purchase price per share has been reduced from $10 to $9. As a result, JAXB intends to issue 3,888,889 shares to the four private investors. Under the amendment to the merger agreement, ATBC shareholders will still receive 0.2 shares of JAXB common stock for each share of ATBC common stock. Additionally, each share of ATBC common stock will entitle its holder to receive $0.67 per share in cash. A total of approximately 250,000 shares of JAXB common stock is expected to be issued to ATBC shareholders which is unchanged since the original agreement. (both are halted)

16:34

KRA Kraton Performance Polymers commences public offering of 8 mln shares of common stock (28.53 -1.19)

16:31

MHLD Maiden Holdings announces exchange of warrants with founding shareholders (7.74 +0.08)

Co entered into an agreement with its founding shareholders, Michael Karfunkel, George Karfunkel and Barry Zyskind, to exchange all of the outstanding warrants held by them for restricted Maiden common shares. The outstanding warrants, which entitle the holders to purchase 4.05 mln Maiden common shares, were issued June 7, 2007 with an exercise price of $10.00 per share, an expiration date of June 7, 2017 and a three-year lock-up period that expired on June 7, 2010. The founding shareholders will receive an aggregate of 1.8 mln Maiden common shares in exchange for the warrants.

16:30

EROC Eagle Rock Energy says East Texas oil and gas production will be shut-in longer than originally anticipated (6.32 unch)

Co announces Energy Partners, L.P. (the "Partnership" or "Eagle Rock") (Nasdaq:EROC) announced today that its East Texas oil and gas production will be shut-in longer than originally anticipated due to delays in returning to service the third-party operated facility that processes the Partnership's production. The Partnership expects the shut-in to negatively impact net revenues in its Upstream Business by approximately $4 million.

16:22

KCAP Kohlberg Capital announces forbearance and settlement agreement with lenders (6.00 +0.14)

Co entered into a forbearance and settlement agreement relating to their revolving credit facility with BMO Capital Markets, Deutsche Bank AG and the other lender parties in order to settle all outstanding claims asserted in connection with the Co-initiated credit facility litigation.

16:19

ITT ITT Industries awarded sole source contract by NASA for the Cross-track Infrared Sounder instrument planned for flight on the first JPSS-1 in 2014 (46.94 +1.23) -Update-Under this contract, ITT will manufacture, test and deliver the CrIS, support instrument integration on JPSS-1, and provide launch and post-launch support. The instrument will be identical to the CrIS planned for flight on the NPOESS Preparatory Project mission.

16:19

TCAP Triangle Capital commences public offering of 2 mln shares of common stock (16.76 +0.48)

16:17

CBZ CBIZ Inc announced a $100 mln convertible sr subordinated notes offering (6.08 )

16:15

WLL Whiting Petroleum announced that it has commenced a public offering of $350 mln aggregate principal amount of senior subordinated notes due 2018 (96.28 +3.50) -Update-

Co expects to use the net proceeds from this offering to repay a portion of the debt outstanding under its credit agreement.

16:12

SYA Symetra Financial's Symetra Life announces new organizational structure (10.81 -0.02)

Symetra Life Insurance Company announced a new organizational structure. The new organizational structure reflects Symetra's three core businesses -- retirement solutions, life insurance and group insurance. A division has been created for each core business, led by an executive vice president. Co is still conducting a search for an executive to lead its Life Division.

16:11

GDI Gardner Denver appoints Michael M. Larsen as Vice President and Chief Financial Officer, effective October 11 (54.45 +1.00)

Co announced Larsen succeeds Helen W. Cornell, who has served in this capacity since 2004 and previously advised the Co of her intention to retire to enable her to increase her involvement in family business matters. Cornell will remain with the Co during a transition period, which is expected to be completed in November 2010. Prior to joining GDI Larsen was Chief Financial Officer, GE Water & Process Technologies.

16:09

VOLC Volcano Files Counterclaim Asserting St. Jude (STJ) Infringes Three Volcano Patents; Answers St. Jude's Patent Infringement Claims (24.31 +0.03)

Co said that it believes the patent infringement claims brought against the company by St. Jude Medical Systems AB (STJ) and its affiliated companies are without merit. In a filing made today in the United States District Court for the District of Delaware, Volcano denies allegations that its PrimeWire products infringe any valid claim of St. Jude's asserted patents. Moreover, as described in detail in its answer, Volcano believes that two of the asserted St. Jude patents are unenforceable because they were obtained through acts of fraud on the United States Patent and Trademark Office (USPTO). Specifically, Volcano believes that the individuals involved in securing these two patents knowingly withheld from the USPTO a patent describing the pioneering work of scientists at Volcano's predecessor company, Cardiometrics, Inc. In addition, Volcano has alleged that St. Jude's PressureWire products and its RadiAnalyzer Xpress product infringe three Volcano patents. In its counterclaim, Volcano is seeking injunctive relief and monetary damages.

16:09

CXS CreXus Investment announces Q3 dividend of $0.17/share, up from $0.12/share (12.43 +0.21)

16:08

TNAV TeleNav announces amendments to Sprint and Tele Atlas agreements; co guides Q1 in-line, guides FY11 below consensus (5.06 -0.07)

Co announced that it entered into amendments to its Master Application and Services Agreement with Sprint, its largest customer, and its License Agreement with Tele Atlas, a supplier of map and point of interest content used in TeleNav's services. Co issues in-line Q1 guidance; co sees Q1 EPS of ~$0.23 vs. $0.23 consensus, guides revs of ~$$50 mln vs $50.3 mln consensus. Co issues downside FY11 guidance; co guides FY11 Non-GAAP EPS of ~$0.55-0.60 vs $0.84 consensus, guides revs of ~$180-185 mln vs. $206 mln consensus.

16:06

CWH CommonWealth REIT announces proposed public offering of 5 mln common shares (27.96 +0.66)

Co announces that it has commenced a proposed public offering of 5 mln common shares. CommonWealth expects to use the net proceeds to reduce amounts outstanding under its $750 mln revolving credit facility, fund a portion of its redemption of the remaining seven million shares of its 8 3/4% Series B cumulative redeemable preferred shares, and fund general business activities, including possible future acquisitions.

16:02

IVR Invesco Mortgage Capital declares Q3 dividend of $1.00, up from prior dividend of $0.74/share (22.30 +0.30)

16:02

HTS Hatteras Financial announces public offering of 5 mln shares of common stock pursuant to an effective registration statement (30.69 ) -Update-

16:01

CYS Cypress Sharpridge Investments launches 10 mln shares common stock offering; co intends to invest the net proceeds of the offering in Agency RMBS and for general corporate purposes (13.87 +0.18)

16:01

HCN Health Care REIT proposes offering of 7mln shares of common stock (48.43 +0.52)

Co intends to use proceeds for general corporate purposes, including investing in properties and repaying borrowings under its unsecured line of credit and other outstanding indebtedness.

16:01

HTS Hatteras Financial declares third quarter 2010 dividend of $1.10 per share, unchanged from prior (30.69 +0.38)

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