Briefing.com: Hourly In Play (R) – 07:00 ET

Apr 27, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 27-Apr-10 07:00 ET

06:53

S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -8.20.

06:52

Asian Markets

Nikkei...11212.66...+46.90...+0.40%. Hang Seng...21261.79...-325.30...-1.50%.

06:52

European Markets

FTSE...5687.38...-66.40...-1.20%. DAX...6278.56...-53.70...-0.90%.

06:41

VICL Vical reports encouraging updates from U.S. military malaria vaccine programs (3.65 )

Co announces that a prime-boost malaria vaccine regimen provided sterile protection, with no disease symptoms and no detectable malaria parasites, in 4 of 15 vaccinated volunteers a full 28 days after challenge with multiple infected-mosquito bites. The remaining 11 vaccinated volunteers and all 6 unvaccinated control volunteers developed parasitic infections. Results were presented at the National Foundation for Infectious Diseases Thirteenth Annual Conference on Vaccine Research (Bethesda - April 26-28).

06:40

TRMB Trimble Navigation announces its intent to acquire Punch Telematix NV, a belgian transportation management solutions provider (31.15 )

Co announces pursuant to Article 8, Section 1, of the Belgian Royal Decree of April 27, 2007 relating to public takeover offers, its intent to launch a voluntary conditional takeover offer in order to acquire 100% of the shares in Punch Telematix NV (i.e. 4,282,901 ordinary shares) at EUR 3.15 (approx US$4.21 as of April 26, 2010) per share in cash. Punch International NV, Punch Telematix's largest shareholder, holds approximately 65 percent (or ca. 2,773,917 shares) of the total shares outstanding of Punch Telematix and has made a binding commitment to tender its shares in Punch Telematix to the Offer. Trimble is currently finalizing its bid notice and application file for the Belgian Banking, Finance and Insurance Commissionand intends to be in a position to submit it for approval by the CBFA in the coming days.

06:34

NXY Nexen misses by $0.04, beats on revs (26.44 )

Reports Q1 (Mar) earnings of CDN$0.35 per share, CDN$0.04 worse than the Thomson Reuters consensus of CDN$0.39; revenues rose 43.2% year/year to CDN$1.5 bln vs the CDN$1.42 bln consensus.

06:33

CE Celanese announces proposed consolidation of Acetate manufacturing (34.86 )

Co announces it is considering a consolidation of its global acetate manufacturing operations by proposing the closure of its acetate manufacturing facility in Spondon, Derby, United Kingdom. The consolidation is designed to strengthen the company's competitive position, reduce fixed costs and align future production capacities with anticipated industry demand trends. The company would serve its acetate customers under this proposal by optimizing its global production network, which includes facilities in Lanaken, Belgium; Narrows, Virginia; and Ocotlan, Mexico, as well as the company's acetate joint venture facilities in China. If the company proceeds with the proposed closure, Celanese expects to operate its Spondon facility through late 2011 to ensure a smooth closure process. Key products manufactured at the Spondon plant include cellulose acetate flake and filter tow. The plant's nameplate capacity is approx 41,000 tons of acetate tow and 60,000 tons of acetate flake. The Spondon facility has approx 460 employees. The company will engage in a consultation procedure with the labor unions associated with the proposed closure. As a result of the proposed Spondon site closure, Celanese expects to record a non-cash impairment charge of $72 million during the first quarter of 2010. These expenses will be excluded from the company's adjusted earnings per share and operating EBITDA measures.

06:30

ENTG Entegris beats by $0.04, beats on revs (6.12 )

Reports Q1 (Mar) earnings of $0.15 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.11; revenues rose 172.0% year/year to $160.5 mln vs the $153.5 mln consensus. "Our first-quarter sales growth reflected continued positive trends in our core semiconductor markets. Utilization rates and production levels at our semiconductor fab customers remained at high levels, and capital spending in the industry continued to be robust. We were very pleased with our operating performance in the quarter, which reflects the positive impact of the structural cost reductions we put in place during the past year. Our manufacturing execution in the quarter was excellent and contributed to first-quarter operating margin of 16.5 percent of sales, excluding amortization. This is above our target model and well above what we would have achieved in previous quarters on comparable revenue."

06:22

CNC Centene beats by $0.04, misses on revs; guides FY10 EPS in-line, revs below consensus (24.66 )

Reports Q1 (Mar) earnings of $0.41 per share, $0.04 better than the Thomson Reuters consensus of $0.37; revenues rose 12.5% year/year to $1.02 bln vs the $1.11 bln consensus. Co issues guidance for FY10, sees EPS of $1.73-1.83 ($0.03 increase vs previous guidance, vs. $1.77 Thomson Reuters consensus; sees FY10 revs of $4.3-4.4 bln vs. $4.59 bln Thomson Reuters consensus. The consolidated HBR for the three months ended March 31, 2010 of 84.0% was an increase of 0.5% over the comparable period in 2009. Co estimates HBR of 84.0-86.0% in FY10.

06:17

DEP Duncan Energy misses by $0.01, beats on revs (27.92 )

Reports Q1 (Mar) earnings of $0.37 per share, $0.01 worse than the Thomson Reuters consensus of $0.38; revenues rose 13.2% year/year to $290.6 mln vs the $244.2 mln consensus.

06:17

ICON Iconix Brand announces definitive agreement to acquire United Media Licensing owner of Peanuts characters (18.39 )

Co announces it has signed a definitive agreement with United Features Syndicate and The E.W. Scripps Company to acquire the Peanuts brand and related assets in partnership with the Schulz family. As part of the transaction, Iconix will also acquire the licensing and character representation business of United Media Licensing, a division of UFS, which, in addition to Peanuts, represents a number of character brands, including Dilbert and Fancy Nancy. The Peanuts brand and other acquired assets will be purchased through a newly formed subsidiary, which will be owned 80% by Iconix and 20% by the Schulz family. The Peanuts brand is licensed in over 40 countries and generates annual retail sales of over $2 billion.

06:16

ARGN Amerigon reports EPS in-line, beats on revs; guides Q2 revs above consensus (10.80 )

Reports Q1 (Mar) earnings of $0.07 per share, in-line with the Thomson Reuters consensus of $0.07; revenues rose 137.3% year/year to $24.2 mln vs the $22.5 mln consensus. Co issues upside guidance for Q2, sees Q2 revs up slightly from $24.2 mln vs. $21.81 mln Thomson Reuters consensus. Gross margin as a percentage of revenue for the 2010 first quarter was 27 percent compared with 24 percent in the 2009 first quarter. The year-over-year increase was primarily attributable to lower raw material costs, a favorable shift in the mix of products sold toward units having a higher gross margin percentage and higher coverage of fixed cost at the higher volume levels. "The significant year-over-year and sequential improvements in revenues were driven by the resurgence in the global automotive industry that began in the fourth quarter of 2009 and which is continuing this year. Gross margins were also positively impacted by our ongoing focus on reducing product costs and improving efficiency. We believe these efforts and adding new vehicles and increasing market penetration have positioned the Company to take advantage of the recovery expected in the global automotive industry. In addition to the recently announced Ford F-250 line of trucks, which generated strong initial sales of CCS during the quarter, we expect several new vehicle introductions this year."

06:15

CCM Concord Medical Services (7.16 )

Co announces it has entered into a definitive agreement to acquire 100% of the equity interest in Tianjin Kangmeng Radiology Equipment Management, a company that manages four radiotherapy and diagnostic imaging centers in Hebei province. Under the terms of the agreement, Concord Medical will continue to manage these four centers which are equipped with one PET-CT scanner, one IGRT system, one Head Gamma Knife system and one ECT scanner, jointly with Tianjin Kangmeng Radiology's current hospital partner. These four centers have been in operation since July 2009. Prior to the acquisition, Concord Medical had been managing two centers in Hebei province.

06:15

NEM Newmont Mining beats by $0.04, beats on revs (53.19 )

Reports Q1 (Mar) earnings of $0.83 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.79; revenues rose 46.0% year/year to $2.24 bln vs the $2.15 bln consensus. Equity gold production for the quarter was 1.3 million ounces and the average realized gold price was $1,106 per ounce. Newmont is maintaining its previously announced FY10 outlook for equity gold production of 5.3 to 5.5 million ounces and costs applicable to sales of between $450 and $480 per ounce on a co-product basis.

06:14

EPD Enterprise Products beats by $0.08, beats on revs (36.65 )

Reports Q1 (Mar) earnings of $0.50 per share, $0.08 better than the Thomson Reuters consensus of $0.42; revenues rose 74.9% year/year to $8.54 bln vs the $7.83 bln consensus.

06:11

DD DuPont beats by $0.18, beats on revs; raises FY10 EPS guidance above consensus (40.95 )

Reports Q1 (Mar) earnings of $1.24 per share, $0.18 better than the Thomson Reuters consensus of $1.06; revenues rose 23.5% year/year to $8.48 bln vs the $8.06 bln consensus. This reflects 19% higher volume, 2% higher local selling prices, and a 3% positive impact from currency exchange rates, partly offset by a 1% reduction from portfolio changes. Co raises guidance for FY10, sees EPS of $2.50-2.70 vs. $2.39 Thomson Reuters consensus, up from $2.15-2.45 previously. The new outlook reflects expected stronger sales growth and improved pre-tax operating margins, supported by continuing global economic expansion with particularly strong demand in Asia Pacific. The co expects free cash flow to be about $200 million higher than originally anticipated, and has increased its outlook from greater than $1.5 billion to more than $1.7 billion. Asia Pacific sales were $1.6 billion with volume up 65% in the quarter. Sales in Performance Polymers, Electronics & Communications, and Titanium Technologies were particularly strong. Volumes in emerging markets were also strong, up 28%. Raw material, energy and freight costs, adjusted for currency and volume, were about 2% lower versus prior year. The co expects these costs to trend higher as the year progresses, reflecting a full-year increase of about 5%.

06:11

XEC Cimarex announces 1Q production volumes and provides operations update (66.54 )

Co announces 1Q10 oil and gas production volumes averaged 584.5 million cubic feet equivalent per day. Average daily equivalent production was comprised of 390.8 million cubic feet of gas, 27,967 barrels of oil and 4,313 barrels of natural gas liquids. 1Q10 production grew 25% sequentially from 4Q09 average of 467.6 MMcfe/d and 20% as compared to the first-quarter 2009 average of 489.0 MMcfe/d. Production increases reflect successful Gulf Coast exploration and strong Cana-Woodford results.

06:09

TYC Tyco beats by $0.04, reports revs in-line; announces intent to spin-off Electrical & Metal Products business (40.40 )

Reports Q2 (Mar) earnings of $0.59 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.55; revenues rose 0.5% year/year to $4.17 bln vs the $4.14 bln consensus. Co announces that it plans to pursue a tax-free spin-off of its Electrical & Metal Products business. Tyco expects to file documents with the SEC over the next few months and to complete the proposed transaction in the first half of FY11. Following the transaction, the business would be an independent, publicly traded co.

06:07

ICLR ICON plc reports EPS in-line, misses on revs (26.95 )

Reports Q1 (Mar) earnings of $0.37 per share, in-line with the Thomson Reuters consensus of $0.37; revenues fell 0.3% year/year to $219.1 mln vs the $225.6 mln consensus. Co says "As expected, 2010 has started solidly. Following lower booking levels and higher cancellations last year, we had indicated in our February guidance that we believed growth would re-emerge in the second half of 2010. While remaining cautious, with net bookings of $265 million for the quarter, and a pipeline of new opportunities that continues to solidify, we believe the conditions for a return to growth are coming into place. We are pleased with our continued good cash generation and are confident we have the balance sheet to support our growth plans."

06:04

CERP Cereplast provides update on its breakthrough algae-based plastics (5.15 )

Co announces that its plan to develop a new family of algae-based resins is progressing well and that the Company expects to offer the first grade of Cereplast Algae Plastics for commercial use by the end of the year. Cereplast algae-based resins represent a breakthrough in industry technology and have the potential to replace 50% or more of the petroleum content used in traditional plastic resins. Currently, Cereplast is using renewable material such as starches from corn, tapioca, wheat and potatoes in the manufacture of bio-based resins. Algae-based resins, which are revolutionary in the industry, will complement the Company's existing line of Compostables and Hybrid resins.

05:37

SBNY Signature Bank beats by $0.04 (39.62 )

Reports Q1 (Mar) earnings of $0.49 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.45. Non-performing loans decreased to $44.4 mln, or 0.99% of total loans, at March 31, 2010, vs $46.6 mln, or 1.07% at the end of 4Q09 and $45.1 mnl, or 1.26%, for 1Q09. The Bank's provision for loan losses for the 2010 first quarter was $11.2 million, an increase of $1.6 million, or 17.1%, over the 2009 first quarter. The increase was primarily driven by growth in the loan portfolio, combined with an increase in provisions stemming from the challenging economic environment.

05:32

CPO Corn Products beats by $0.10, beats on revs; maintains FY10 EPS in-line (35.88 )

Reports Q1 (Mar) earnings of $0.57 per share, $0.10 better than the Thomson Reuters consensus of $0.47; revenues rose 12.8% year/year to $937.2 mln vs the $862.3 mln consensus. Co maintains in-line guidance for FY10, sees EPS of $2.25-2.60 vs. $2.43 Thomson Reuters consensus.

05:30

SSRI Silver Standard provides update on exploration program (19.51 )

Co announces this season's exploration program in Snowfield, BC will include an 18,000-meter drill program primarily focused on expanding the project's known gold resource, which was substantially increased in December 2009. Snowfield currently hosts measured and indicated gold resources of 19.77 million ounces and inferred gold resources of 10.05 million ounces, along with resources in copper, silver, and molybdenum. Geotechnical and large diameter drilling for advanced metallurgical studies will also be included as part of the drill program. Preliminary environmental and geotechnical investigations will be completed at the proposed mill tailings locations. These areas are being defined in a NI 43-101 compliant Preliminary Assessment, which is expected to be completed this quarter. On the Brucejack Project, which borders the Snowfield Project to the south, a 24,000-meter drill program is being planned. San Agustin hosts indicated resources of 1.59 million ounces of gold and 47.9 million ounces of silver and inferred resources of 1.06 million ounces of gold and 37.0 million ounces of silve

05:28

DAI Daimler AG reports 1Q10 results (52.75 )

Co reports 1Q10 EBIT of euro 1,190 million, as previously disclosed on April 19, 2010 (Q109: -1,426 million euros). Mercedes-Benz Cars in posted positive earnings for the first quarter of 2010, due to increased unit sales in the E-Class and S-Class segments. The positive development of EBIT led to net profit for the Group of euro 612 million, representing an improvement over the prior-year result (Q109: net loss of euro 1,286 million). EPS amounted to euro 0.65 (Q109: loss per share of euro 1.40). In the first quarter of 2010, Daimler sold 402,700 cars and commercial vehicles worldwide, which was 21% more than in the same period of last year. The Daimler Group's first-quarter revenue increased from euro 18.7 billion to euro 21.2 billion; adjusted for exchange-rate effects, revenue grew by 15%. Based on the divisions' planning, Daimler expects total unit sales to increase significantly in 2010 (2009: 1.6 million vehicles). Following a distinct decline in 2009, Daimler assumes that Group revenue will increase again in 2010, but will remain significantly below the level of 2008. Daimler expects to achieve Group EBIT from the ongoing business of more than euro 4 billion in 2010. The key factors for this expectation are the ongoing market revival, the improving economic environment and the market success of the Group's products.

03:21

VDSI VASCO Data Security misses by $0.04, misses on revs; reaffirms FY10 revs in-line (8.15 )

Reports Q1 (Mar) earnings of $0.01 per share, $0.04 worse than the Thomson Reuters consensus of $0.05; revenues rose 3.0% year/year to $23.9 mln vs the $27.2 mln consensus. Co reaffirms in-line guidance for FY10, sees FY10 revs increasing 15.0-20.0% from FY09 level (translates into approx $116.96-122.04 mln vs. $120.14 mln Thomson Reuters consensus). Co reaffirms operating margins for FY10 to be 5.0-10.0%.

03:13

PMI PMI Group prices 77.765 mln common shares at $6.15/share (6.46 )

Co also prices $261.0 mln aggregate principal amount of its 4.50% Convertible Senior Notes due 2020. The offerings represent an increase from the previously announced offering size of $400 million in common stock and $200 million in notes.

02:32

BEAV BE Aerospace beats by $0.01, beats on revs; guides Q2 EPS in-line; raises FY10 EPS guidance by $0.05 to $1.45, now approx in-line, and sees FY10 revenue in-line (31.12 )

Reports Q1 (Mar) earnings of $0.34 per share, $0.01 better than the Thomson Reuters consensus of $0.33; revenues fell 11.5% year/year to $463.5 mln vs the $458.5 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.36 vs. $0.36 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $1.45 (previous $1.40) vs. $1.46 Thomson Reuters consensus; sees FY10 revs increasing 2% from FY09 level, or ~$1.90 bln vs. $1.90 bln Thomson Reuters consensus. Co expects 2Q10 FCF conversion rate lower than that of 1Q10. The co expects an expansion in orders and backlog in 2010 due to improving demand for consumables and commercial aircraft segment spares, the conversion of a portion of unbooked supplier furnished equipment awards to bookings, and an expected increase in orders for cabin interior products arising from the recent increase in RFQ activity related thereto. FY10 revenues are expected to be approx 2% lower than FY09 revenue of approx $1.94 bln, reflecting a lower level of commercial aircraft and business jet deliveries in 2010 and the weak bookings that the co experienced in 2009, offset somewhat by higher aftermarket revenues. Co expects favorable quarterly earnings comparisons to 2009 beginning in 2Q10. FY10 free cash flow is expected to be in excess of $145 million reflecting a free cash flow conversion rate in excess of 100% for the full year. Due to the expected expansion in orders and backlog in 2010 and a recovery in the commercial aircraft segment spares and consumables businesses, the co expects a significant increase in revenues, earnings and cash flows beginning in FY11.

01:29

OMI Owens & Minor reports EPS in-line, misses on revs; guides FY10 (Dec) EPS in-line (31.47 )

Reports Q1 (Mar) earnings of $0.44 per share, in-line with the Thomson Reuters consensus of $0.44. Co issues in-line guidance for FY10 (Dec), sees EPS of 1.93-2.03 vs. $1.97 Thomson Reuters consensus.

01:20

FRX Forest Labs and Ironwood Pharma to present linaclotide Ph. 3 chronic constipation data (27.42 )

Ironwood Pharmaceuticals (IRWD 13.93) and Forest Laboratories announce they will be presenting Phase 3 chronic constipation clinical trial results for linaclotide, an investigational guanylate cyclase type-C agonist for the treatment of irritable bowel syndrome with constipation and chronic constipation, during the 2010 Digestive Disease Week annual meeting from May 1 through May 5, 2010. Ironwood and Forest released the top-line results from the CC trials late last year and expect to have data from the Phase 3 IBS-C trials in the second half of 2010.

01:17

CPE Callon Petroleum regains NYSE listing standards compliance (7.19 )

01:16

SLG SL Green Rlty beats by $0.02, beats on revs (64.33 )

Reports Q1 (Mar) funds from operations of $1.07 per share, $0.02 better than the Thomson Reuters consensus of $1.05; revenues fell 1.5% year/year to $258.6 mln vs the $226.7 mln consensus.

01:13

OLN Olin beats by $0.02, beats on revs (22.14 )

Reports Q1 (Mar) earnings of $0.12 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.10; revenues fell 9.6% year/year to $362 mln vs the $349.8 mln consensus. Co issues guidance for Q2, sees EPS of $0.15-0.20, may not be comparable to $0.22 Thomson Reuters consensus. 2Q10 Chlor Alkali segment earnings are expected to more than double compared to the first quarter of 2010 reflecting both improved pricing and improved demand. Segment earnings for Winchester are projected to decline from first quarter levels primarily due to higher commodity costs. Charges to income for environmental and remedial activities are forecast to increase to the $6 million to $8 million range in the second quarter of 2010. This 2Q10 forecast for environmental and remedial costs does not include any recovery of costs incurred and expensed in prior periods. The 2Q10 forecast includes approx $2 million of favorable adjustments to income tax expense.

01:08

NARA Nara Bancorp misses by $0.07, beats on revs (10.17 )

Reports Q1 (Mar) loss of $0.10 per share, $0.07 worse than the Thomson Reuters consensus of ($0.03); revenues rose 39.5% year/year to $34.6 mln vs the $31.5 mln consensus.

01:04

SMI Semiconductor Manufacturing reports FY09 results (5.85 )

Co reports sales decreased by 20.9% from $1,353.7 million for 2008 to $1,070.4 million for 2009, primarily due to a decrease in overall wafer shipments. For the full year 2009, the overall wafer shipments were 1,376,663 units of 8-inch equivalent wafers, down 14.6% year-on-year. The average selling price of the wafers the co shipped decreased by 7.5% from $840 per wafer to $778. Excluding DRAM revenue, the percentage of wafer revenues that used 0.13 micron and below process technology increased from 38.2% to 47.5% between these two periods.

01:01

On The Wires

Kinross Gold (KGC) announces it has been successful in its bid to acquire Underworld Resources (TSX:UW) under its previously announced offer... Advance Auto Parts (AAP) announces it priced $300 million in principal amount of 5.75% Senior Unsecured Notes due 2020... Cellcom Israel Ltd. (CEL) announces the dismissal of a purported class action lawsuit filed in March 2009 against the co, in the District Court of Central Region, by a plaintiff alleging to be the co's subscriber, in connection with allegations that Cellcom Israel unlawfully sent its subscribers commercial messages... Wonder Auto (WATG) wins contract from customer based in Germany through one of its subsidiaries, which is Jinzhou Wanyou Mechanical Parts.

00:53

FBP First BanCorp reports loss of $1.22 per share vs Thomson Reuters consensus of ($0.61) (2.90 )

The provision for loan and lease losses for the first quarter of 2010 increased by $33.8 million to $171.0 million compared to a provision of $137.2 million in the fourth quarter of 2009.

00:45

JEC Jacobs beats by $0.03, beats on revs; raises FY10 EPS guidance range (48.67 )

Reports Q2 (Mar) earnings of $0.62 per share, $0.03 better than the Thomson Reuters consensus of $0.59; revenues fell 13.1% year/year to $2.59 bln vs the $2.46 bln consensus. Co announces $14.7 bln backlog at April 2, 2010, including a technical professional services component of $8.3 bln. This compares to total backlog and technical services backlog of $16.6 bln and $8.1 bln, respectively, at April 3, 2009. Co issues in-line guidance for FY10, sees EPS of $2.15-2.65 (previous range $2.00-2.60) vs. $2.38 Thomson Reuters consensus.

00:42

WWIN Winner Medical prices 1.38 mln common shares at $6.10/share (5.60 )

00:41

MTL Mechel announces offering of preferred shares and preferred ADS by certain selling shareholders (26.32 )

Co announces a public offering by certain selling shareholders of preferred shares and preferred ADSs, each representing an interest in one-half of one preferred share. The preferred shares and Preferred ADSs are being offered by James C. Justice II, James C. Justice III, James C. Justice Companies Inc. and Jillean L. Justice. The Selling Shareholders propose to offer up to 49,952,488 preferred ADSs, representing 24,976,244 preferred shares, outside the Russian Federation, in addition to an offering of preferred shares to Russian and international investors. The price range has been set at $21.00-27.60 per preferred share and $10.50-13.80 per preferred ADS.

18:32

INSU Insituform Tech misses by $0.07, misses on revs; reaffirms FY10 EPS in-line (26.31 -0.69)

Reports Q1 (Mar) earnings of $0.22 per share, $0.07 worse than the Thomson Reuters consensus of $0.29; revenues rose 55.6% year/year to $199.2 mln vs the $203.4 mln consensus. Co reaffirms in-line guidance for FY10, sees EPS of $1.45-1.55 vs. $1.49 Thomson Reuters consensus.

18:19

WPI Watson Pharm confirmed that its subsidiary, Watson Laboratories, a Nevada Corp, has been sued by Teva Women's Health (43.10 -0.05) -Update-

Co confirmed that its subsidiary, Watson Laboratories, a Nevada Corp, has been sued by Teva Women's Health, in connection with the filing of Watson's Abbreviated New Drug Application (ANDA) for synthetic conjugated estrogens, A, in the 0.3 mg, 0.45 mg, 0.625 mg, 0.9 mg and 1.25 mg tablet strengths. Watson's ANDA is for the generic equivalent of Teva's Cenestin. The suit was filed on April 23, 2010, in the United States District Court for the District of New Jersey.

18:09

HLYS Heelys announces new sourcing partnership (2.83 +0.06)

Co announced that they've entered into a new sourcing agreement with TGB, a subsidiary of Anthony L & S, to produce their unique product. The agreement will be effective on all orders beginning May 1, 2010. HLYSwill close their sourcing office in northern China after transitioning through current orders in process. Some key personnel will be retained going forward.

17:50

LRY Liberty Prop reports Q1 in-line (35.00 +0.15)

Reports Q1 (Mar) earnings of $0.64 per share, in-line with the First Call consensus of $0.64; revenues rose 2.1% year/year to $189.2 mln vs the $185.2 mln consensus.

17:44

FUL H.B. Fuller to discontinue production of polysulfide-based insulating glass sealant product line in Europe (24.27 +0.28)

Co announced that it will exit the polysulfide-based insulating glass sealant product line in Europe by the end of calendar year 2010. As a result of this decision, the Co will incur exit costs of ~$2.2 mln ($1.8 mln after-tax, or $0.04 per diluted share) and non-cash impairment charges of about $9.2 mln ($6.3 mln after-tax, or $0.13 per diluted share). These figures are estimates and will be finalized in the next quarterly filing. The exit costs primarily consist of severance and other related charges. The exit costs will be spread across the next several quarters as the business is wound down, with $1.4 mln of the after-tax costs occurring in the second quarter and $0.4 mln occurring in the second half of the year. The non-cash impairment charges relate to the long-lived assets created when this product line was acquired in 2006 and will occur entirely in the second quarter of 2010. Aside from the exit costs and impairment charges, the discontinuance of this product line is expected to have a modest positive impact on net income and cash flow.

17:44

GCA Global Cash Access announces departure of Chief Financial Officer (9.02 +0.09)

Co announced the resignation of George Gresham, executive vice president and chief financial officer. Gresham has decided to leave the Company effective May 7, 2010, to pursue other opportunities. The Company has immediately begun a search for a new chief financial officer. Co said, Betts will serve as the Company's interim chief financial officer until a permanent replacement is found. Gresham's departure was not related to any disagreement with the management team, the Company's board of directors, or the Company's auditors.

17:42

HRS Harris Corp receives $20 mln order from U.S. Department of Defense for Falcon III AN/PRC-117G multiband manpack radios (50.42 +0.12)

17:40

NATL National Interstate to acquire Vanliner Insurance; NATL does not expect the transaction to have a material effect on 2010 earnings, expects accretive to 2011 earnings (20.48 +0.20)

Co announced that its principal insurance subsidiary, National Interstate Insurance, entered into a definitive agreement to acquire Vanliner Insurance, a subsidiary of UniGroup. Vanliner is a market leader in providing insurance for the moving and storage industry. Under the agreement, National Interstate will pay ~$125-$135 mlnin cash, which represents Vanliner's tangible book value at closing. NATL does not expect the transaction to have a material effect on 2010 earnings. Beginning in 2011, the acquisition is expected to be accretive to earnings and return on shareholders' equity. Vanliner wrote approximately $104 million of gross moving and storage premiums in 2009, representing ~58% of its total business.

17:30

MIM MI Developments announces confirmation by the Bankruptcy Court of the Magna Entertainment Plan of reorganization (13.33 -0.05)

Co announced that the Plan of Reorganization in respect of Magna Entertainment Corp. ("MEC") and certain of its subsidiaries, jointly proposed by MEC, MID and the Official Committee of Unsecured Creditors of MEC, has been confirmed by order of the United States Bankruptcy Court for the District of Delaware. The original litigation settlement, to be implemented by the Plan, was announced by MID on January 11, 2010.

17:21

UCBA United Community Bancorp unit receives regulatory approval to purchase three Indiana branches of Integra Bank National Association (6.63 +0.10)

Co announced that its subsidiary, United Community Bank, has received approval from the Office of Thrift Supervision to complete the purchase of three branch offices and certain loans of Integra Bank National Association, the wholly-owned subsidiary of Integra Bank Corporation. The acquisition is expected to occur following the close of business on June 4, 2010, at which time the Integra Bank branch offices located in the towns of Osgood, Milan and Versailles, Indiana will become branch offices of United Community Bank. Following completion of this transaction, United Community will have nine branches -- four in Lawrenceburg; one in Aurora; one in St. Leon; one in Osgood; one in Milan; and one in Versailles, and approximately $450 million in assets and $390 million in deposits.

17:16

YMI YM BioSciences announces controlled equity offering of up to 7.75 mln shares (1.39 -0.08)

Co announced that it has filed a prospectus supplement to its final base shelf prospectus, dated September 16, 2009, with the Ontario Securities Commission, and a supplement to its U.S. prospectus, dated September 16, 2009, forming part of its U.S. registration statement, with the United States Securities and Exchange Commission. YM has entered into a Sales Agreement, dated April 23, 2010, with Cantor Fitzgerald & Co., under which YM may, at its discretion, from time to time sell up to a maximum of 7,750,000, of its common shares through an "at-the-market" equity offering program known as a Controlled Equity Offering.

17:14

AGNC American Capital Agency beats by $0.85 (27.20 +0.20)

Reports Q1 (Mar) funds from operations of $2.13 per share, $0.85 better than the Thomson Reuters consensus of $1.28. As of March 31, 2010, the Company's investment portfolio totaled $5.2 billion of agency securities, at fair value, comprised of $1.8 billion of fixed-rate agency securities, $2.7 billion of adjustable-rate agency securities and $0.7 billion of collateralized mortgage obligations backed by fixed-rate and adjustable-rate agency securities. As of March 31, 2010, AGNC's investment portfolio was comprised of 22% 30-year fixed-rate securities, 13% 15-year fixed-rate securities, 52% adjustable-rate securities and 13% CMOs backed by fixed and adjustable-rate agency securities.

17:09

LMT Lockheed Martin announces offer to exchange outstanding debt securities for new notes and cash (86.09 -0.83)

17:08

PPDI PPD Opens vaccine clinical research center in Taizhou, China (25.55 -0.80)

Co announced it has opened a vaccine clinical research center in Taizhou, China, further strengthening its clinical research and development services in one of the country's major regions for conducting vaccine studies. Through the center, PPD will provide clinical monitoring services to global and local biopharmaceutical companies seeking to develop vaccines in China. the center will help biopharmaceutical companies address unique requirements for conducting vaccine clinical trials in the country.

17:08

PPDI PPD Inc. reports EPS in-line, beats on revs (25.55 -0.80)

Reports Q1 (Mar) earnings of $0.14 per share, in-line with the Thomson Reuters consensus of $0.14; revenues fell 4.8% year/year to $346.8 mln vs the $323.8 mln consensus. Year-to-date days sales outstanding at March 31, 2010, were 24.6 days, compared to 31.3 days at December 31, 2009.

17:07

BSX Boston Scientific beats by $0.08, misses on revs; guides Q2 EPS in-line, revs below consensus; guides FY10 EPS above consensus, revs in-line (7.06 -0.15)

Reports Q1 (Mar) earnings of $0.16 per share, $0.08 better than the Thomson Reuters consensus of $0.08; revenues fell 2.5% year/year to $1.96 bln vs the $2 bln consensus. Co issues mixed guidance for Q2, sees EPS of $0.06-0.10 vs. $0.08 Thomson Reuters consensus; sees Q2 revs of $1.825-1.925 bln vs. $1.99 bln Thomson Reuters consensus. Co issues mixed guidance for FY10, sees EPS of $0.50-0.60 vs. $0.37 Thomson Reuters consensus; sees FY10 revs of $7.6-8.0 bln vs. $8.05 bln Thomson Reuters consensus.

17:06

HGR Hanger Orthopedic reports EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (18.49 -0.23)

Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.16; revenues rose 5.4% year/year to $178.3 mln vs the $180 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.27-1.29, excluding non-recurring items, vs. $1.28 Thomson Reuters consensus; sees FY10 revs of $815-825 mln vs. $818.46 mln Thomson Reuters consensus.

17:05

UHS Universal Health beats by $0.04, misses on revs (35.97 -0.54)

Reports Q1 (Mar) earnings of $0.73 per share, $0.04 better than the Thomson Reuters consensus of $0.69; revenues rose 2.7% year/year to $1.35 bln vs the $1.37 bln consensus.

17:05

SUBK Suffolk Bancorp announces revised provision for loan losses (32.05 -0.70) -Update-

Co's banking subsidiary, has revised the provision for loan losses for the first quarter of 2010. Co agreed that the allowance for loan losses be increased to 1.80% of loans for the quarter from 1.27% of loans. As a result, the allowance for loan losses was increased to $21.132 mln from the previously reported $14.944 mln, the provision was increased to $8.837 mln from the previously reported $2.649 mln, earnings per share were decreased to $0.16 per share from the previously reported $0.54 per share. Suffolk announced that this additional provision was not made in response to any increase in actual, realized losses from those previously reported, nor any material changes in the quality of specific credits within Suffolk's loan portfolio. As previously stated on April 13, 2010, at March 31, 2010, of the $31,731,000 of non-performing loans, $28,448,000 is secured by collateral having a cumulative loan-to-value ratio of ~58%. The unsecured portion of $3,283,000 amounts to 28 basis points (28/10,000ths) of net loans at quarter end. (stock is halted)

17:05

PPDI PPD Confirms Takeda Receives NDA Approval of NESINA (Alogliptin) from Japanese Ministry of Health, Labour and Welfare (25.55 -0.80) -Update-

Co confirmed that Takeda Pharmaceutical Company Limited's new drug application for NESINA(R) (alogliptin), a highly selective DPP-4 inhibitor for the treatment of type 2 diabetes, was approved by the Japanese Ministry of Health, Labour and Welfare on April 16. Under PPD's agreement with Takeda, PPD is entitled to a $7.5 million milestone payment from Takeda upon approval of all regulatory and pricing matters in Japan. The approval of the NDA for NESINA noted above constitutes the regulatory approval required for the milestone payment. Upon pricing approval for NESINA in Japan, PPD will be entitled to receive the milestone payment.

17:03

RGA Reinsurance Group of America misses by $0.34 (55.82 -0.10)

Reports Q1 (Mar) earnings of $1.25 per share, $0.34 worse than the Thomson Reuters consensus of $1.59. "Regarding our earnings flow, we experienced the same sort of U.S. mortality seasonality this quarter as we have in the first quarter in each of the last several years, a pattern we expect. The first-quarter reporting period typically presents the unfavorable combination of higher claims flows with the lowest quarterly premium flows. Our U.S. traditional business reported some degree of additional higher-than-expected mortality, while claim levels in Canada were also somewhat higher-than-expected. Despite this claims experience, we still generated a consolidated annualized operating return on equity in excess of 10 percent for the quarter."

17:02

MAS Masco misses by $0.02, beats on revs (18.00 -0.35)

Reports Q1 (Mar) loss of $0.02 per share, $0.02 worse than the Thomson Reuters consensus of ($0.00); revenues rose 3.1% year/year to $1.85 bln vs the $1.81 bln consensus. 'We expect that business conditions in 2010 will continue to show modest improvement compared to 2009. While we are concerned about the impact of current unemployment levels, foreclosure activity and access to financing, we believe that housing starts will improve in 2010 and will increase to a range of 600,000 to 700,000 units from 554,000 units in 2009. While we anticipate that expenditures on repair and remodel activity will improve modestly in 2010 from 2009 levels, we believe that big-ticket items will continue to be deferred, in the short-term, until general economic conditions, credit availability and home prices improve'.

17:01

CE Celanese Corporation announces 25 percent dividend increase (34.86 +0.51)

Co announced that its board of directors has approved a 25 percent increase in the company's quarterly common stock cash dividend. The quarterly dividend rate increased from $0.04 to $0.05 per share of common stock on a quarterly basis and from $0.16 to $0.20 per share of common stock on an annual basis.

17:00

SHFL Shuffle Master appoints Phillip Peckman as interim CEO (8.89 -0.03) -Update-

Co announces that effective today, Chief Executive Officer Timothy Parrott, based upon his medical condition, shall no longer serve as its CEO or as a member of its Board of Directors. Effective today, Shuffle Master's Board of Directors has appointed Chairman of the Board Phillip Peckman as interim CEO and Director Garry Saunders as interim non-executive Chairman of the Board, replacing Mr. Peckman. The Board's Governance Committee will promptly initiate a search for a new CEO. On April 21, 2010, Shuffle Master announced that Mr. Parrott would be taking a temporary medical leave of absence. (stock is halted)

17:00

AES AES Corp enters agreement to sell its equity interest in Qatar business (12.15 -0.22)

Co announced today that it has entered into agreements to sell its equity interest in its Qatar business, Ras Laffan, to its current partner there, the Qatar Electricity and Water Company. AES has owned a 55 percent equity interest in the Ras Laffan project, which consists of a 756 MW combined cycle gas plant and a 40 MIGD (Million Imperial Gallons per Day) desalination facility, since 2003. Ras Laffan has a 25-year power and water purchase agreement with the Qatar General Electricity and Water Corporation, which expires in 2029. Through this transaction, AES is also selling its interest in an associated operations company, and its rights under a related technical service agreement.

16:59

SUBK Suffolk Bancorp halted, news pending (32.05 -0.70)

16:59

SHFL Shuffle Master halted, news pending (8.89 -0.03)

16:53

OTEX Open Text announces acquisition of Shares of Burntsand Inc. (4.00 -1.83) -Update-

Burntsand announced that it has entered into a definitive agreement with OTEX (OTEX) under which Open Text expects to acquire all of the issued and outstanding common shares of Burntsand through a Burntsand shareholder-approved amalgamation with a subsidiary of Open Text under the Canada Business Corporations Act. Based on the terms of the Agreement, Burntsand shareholders will receive CDN $0.15 in cash for each Burntsand common share, for a total transactional value of ~CDN $11 million.

16:52

DVAX Dynavax Technologies pops ~13.2% to $1.63 following news at 16:50 on reports of positive data on universal flu vaccine candidate (1.44 +0.04) -Update-

16:50

DVAX Dynavax Technologies reports positive data on universal flu vaccine candidate (1.44 +0.04)

The co today presented preclinical data that confirms the expected immunogenicity and mechanistic effects of its Universal Flu vaccine. In addition to the demonstrated ability of Dynavax's vaccine to generate cytotoxic T-cells and cytotoxic antibodies, the data presented today at the Thirteenth Annual Conference on Vaccine Research in Baltimore, MD, show that the universal components of Dynavax's vaccine enhance the efficacy of a standard flu vaccine by increasing antibody production directed at virus neutralization. These data are key indicators of immunogenicity and the potential for dose-sparing in the event of a pandemic. Dynavax's Universal Flu vaccine is uniquely designed to combine a TLR9 agonist and two conserved antigens, NP and M2e, with a standard trivalent flu vaccine... Dynavax plans to initiate Phase 1 clinical development of its Universal Flu vaccine by mid-year 2010 at centers that are members of the Vaccine Testing and Evaluation Units (VTEUs) of the National Institute for Allergy and Infectious Disease (NIAID/NIH). A GLP toxicity study has demonstrated that this Universal Flu vaccine candidate is well-tolerated, and clinical material for the upcoming trial has been manufactured.

16:49

NI NiSource unit and MarkWest Energy Partners partnership announced continued joint development (16.60 -0.11)

NiSource Inc. (NI) unit NiSource Gas Transmission & Storage (NGT&S) and MarkWest Liberty Midstream & Resources, a partnership between MarkWest Energy Partners, L.P. (MWE) and The Energy & Minerals Group, announced continued joint development of new natural gas gathering, processing, and transmission projects to support increased Marcellus production volumes in the northern West Virginia area of the Appalachian Basin. NGT&S and MarkWest Liberty are in discussions with a number of natural gas producers and intrastate pipelines regarding plans to provide new rich-gas gathering and processing services in association with NGT&S assets near its Smithfield, W.Va., compressor station.

16:48

ACL Alcon beats by $0.16, beats on revs; guides FY10 EPS in-line (156.50 -1.03)

Reports Q1 (Mar) earnings of $1.91 per share, $0.16 better than the Thomson Reuters consensus of $1.75; revenues rose 15.3% year/year to $1.72 bln vs the $1.66 bln consensus. Co issues in-line guidance for FY10, sees EPS of $7.30-7.55 vs. $7.49 Thomson Reuters consensus. Organic sales growth is expected to be in mid-to-high single digits. "Our first quarter results reflect another strong quarter with solid sales growth driven by continued market share gains in most major product categories, balanced contributions from all geographic regions and generally improved market conditions. Through the focused efforts of our entire organization, we also were able to translate that sales performance to faster growth in operating and net profit," said Kevin Buehler, Alcon's president and chief executive officer. "With this start to the year, we are on track to post solid results in 2010 that reflect sustainable organic growth and operational leverage."

16:46

NEXM NexMed receives FDA clearance for PrevOnco phase 2 study as first-line therapy for HCC (0.55 +0.11)

Co announced that the FDA has cleared the Company to proceed with the proposed Phase 2 trial of PrevOnco(TM), its proprietary cancer treatment for patients with advanced, unresectable hepatocellular carcinoma, or liver cancer. The FDA granted PrevOnco orphan drug status in August 2008, and in March 2010, NexMed filed its Investigational New Drug application for the product candidate. The Company also noted that in IND review communication, the FDA has given NexMed the opportunity to move PrevOnco directly into a Phase 3 trial that would support marketing approval, subject to positive study results.

16:44

WRB W.R. Berkley beats by $0.10 (27.84 -0.07)

Reports Q1 (Mar) earnings of $0.74 per share, $0.10 better than the Thomson Reuters consensus of $0.64. "Book value continued to increase due to a combination of our earnings and the improvement in the value of our investment portfolio. Given our already well-capitalized position, we elected to use most of the earnings generated this quarter to repurchase our shares at prices that we perceived to be attractive. In the long run, we recognize that creating value for our shareholders occurs when we build a better business that has good predictability, high risk-adjusted returns and the right amount of capital."

16:41

SNV Synovus announces $600 mln aggregate offering of common stock; announces ongoing elements of capital plan and announces rights plan (3.44 -0.10) -Update-

SNV announced concurrent underwritten public offerings of $400 million of shares of common stock and $200 million of tangible equity units (tMEDS), with a stated amount per unit of $25. Each tMEDS will be composed of a prepaid stock purchase contract in respect of Synovus' common stock and a junior subordinated amortizing note.... SNV also announced an offer to exchange up to 97 million newly issued shares of Synovus' common stock for any and all of its outstanding 5.125% Subordinated Notes Due 2017. Under the terms of the Exchange Offer, Synovus will issue a number of shares of common stock having a value equal to $900 for each $1,000 principal amount of 2017 Notes validly tendered and accepted for exchange. The Company also will issue to note holders who validly tender their 2017 Notes at or before 5:00 P.M. on May 7, 2010 an additional number of shares of common stock having a value equal to $50 for each $1,000 principal amount of 2017 Notes that are accepted for exchange.

16:40

AMP Ameriprise Financial reports EPS in-line, beats on revs (48.51 -0.54)

Reports Q1 (Mar) earnings of $0.81 per share, in-line with the Thomson Reuters consensus of $0.81; revenues rose 30.4% year/year to $2.29 bln vs the $2.22 bln consensus. The debt-to-total capital ratio attributable to Ameriprise Financial was 20.5 percent. The debt-to-total capital ratio was 19.3 percent excluding non-recourse debt, the impact of consolidated investment entities and the 75 percent equity credit for the hybrid securities.

16:38

TXN Texas Instruments beats by $0.01, beats on revs; guides Q2 EPS above consensus, revs above consensus (27.16 +0.49)

Reports Q1 (Mar) earnings of $0.52 per share, $0.01 better than the Thomson Reuters consensus of $0.51; revenues rose 53.6% year/year to $3.21 bln vs the $3.13 bln consensus. Co reports Q1 gross margins of 52.7% vs consensus of 52.9%. Co issues upside guidance for Q2, sees EPS of 0.56-0.64 vs. $0.53 Thomson Reuters consensus; sees Q2 revs of 3.31-3.59 bln vs. $3.22 bln Thomson Reuters consensus... Orders were $3.64 bln, up 66% from a year ago and up 12% from the prior quarter. Inventory was $1.28 bln at the end of the quarter, up $178 mln from a year ago and up $74 mln from the prior quarter. Capital expenditures were $219 mln in the quarter compared with $43 mln a year ago and $436 mln in the prior quarter. Capital expenditures in the quarter were primarily for assembly/test manufacturing equipment, as well as for analog wafer manufacturing equipment. The company used $504 mln in the quarter to repurchase 20.6 mln shares of its common stock and paid dividends of $149 mln. "Momentum continues into the second quarter as demand for our products remains strong, and we add more manufacturing capacity to support our customers. Production output is at an all-time high, and capacity is increasing each quarter in 2010 as we add 200-millimeter equipment purchased last year and as we ramp the industry's first 300-millimeter Analog facility, from which we will start shipments in the fourth quarter."

16:35

AEC Associated Estates reports Q1 funds from operations of $0.18 vs $0.21 Thomson Reuters consensus; revs $33.00 mln vs $31.79 mln Thomson Reuters consensus (14.03 -0.02)

Associated Estates sees FY10 funds from operations of $0.86-0.92 vs $0.89 Thomson Reuters consensus. "Our quarter end occupancy was a solid 95 percent. Our first quarter results are right in line with our budgets and our 2010 guidance. This strong performance is the result of a well positioned portfolio and improving market conditions."

16:33

DAIO Data I/O reports Q1 EPS of $0.08 compared to a loss of $0.05 last year; revenues increased 43% y/y to $6.3 mln; no estimates available (4.75 -0.03)

Gross margin as a percentage of sales in the first quarter of 2010 was 60.0 percent, compared with 55.7 percent in the first quarter of 2009 and 53.4 percent in the fourth quarter of 2009. The company's cash position at March 31, 2010 increased to $15.7 million. Delinquent accounts over 60 days have been reduced to $196,000 from $779,000 one year ago, with the overall accounts receivable balance of $4.7 million at March 31, 2010 and $3.2 million at December 31, 2009.

16:32

GGC Georgia Gulf adopts new shareholder rights plan (21.52 +0.57)

Co announces that its board of directors has adopted a new shareholder rights plan that will take effect upon the expiration of the Company's existing rights plan on April 27, 2010. The rights issued under the new plan will expire automatically if shareholders do not approve the new rights plan at the Company's 2011 annual meeting of shareholders. The new rights plan is intended to protect the Company and its shareholders from potentially coercive takeover practices and takeover bids that are inconsistent with the interests of the Company and its shareholders. The plan is not intended to deter offers that are fair and otherwise in the best interests of the Company and all of the Company's shareholders. Under the plan, the rights will initially trade together with the Company's common shares and will not be exercisable. In the absence of further action by the board of directors, the rights generally will be "triggered" and become exercisable to purchase common shares of the Company at a discounted price if a person or group (other than the Company and certain related persons) acquires beneficial ownership of 20% or more of the Company's shares or, in the case of a person or group that currently beneficially owns 20% or more of the Company's outstanding shares, an additional 1% of the Company's outstanding shares.

16:31

ATNI Atlantic Tele-Network completes acquisition of former Alltel assets from Verizon Wireless (55.64 +0.74)

Co announced that it has completed the purchase of certain former Alltel wireless assets from Verizon Wireless (VZ). The total purchase price was $223 million, which includes $23 million of acquired net working capital. The purchase was funded by a combination of cash on hand and borrowings under the co's current credit facility. The acquisition, which was completed through the co's wholly owned subsidiary, Allied Wireless Communications Corporation, includes wireless properties and licenses that serve approximately 895,000 subscribers in Georgia, North Carolina, South Carolina, Illinois, Ohio, and Idaho. The co currently expects that these properties will generate approximately $500 million in annual service revenues during the first twelve months of its operation of the assets.

16:31

CIT CIT Group to sell its vendor in Australia to BOQ (40.70 +0.91)

Co signed a purchase agreement under which BOQ will acquire Sydney-based CIT Group (Australia) Limited and CIT Group (New Zealand) Limited ("CIT ANZ"). BOQ will acquire the CIT ANZ vendor equipment finance business which operates in the IT and office market as well as the motorcycle and power equipment market providing finance to customers of a number of well known vendors. The transaction is expected to close in the second quarter of the 2010 calendar year. As part of the transaction, CIT ANZ intends to repay its outstanding fixed and floating rate notes.

16:30

JCP JCPenney commences tender offer for up to $300 mln of its outstanding debt securities (32.36 +0.36)

16:26

ALB Albemarle beats by $0.11, beats on revs (44.79 +0.13)

Reports Q1 (Mar) earnings of $0.74 per share, excluding non-recurring items, $0.11 better than the Thomson Reuters consensus of $0.63; revenues rose 19.3% year/year to $580.3 mln vs the $553.4 mln consensus. Co said, "The volume improvement in most of our segments again this quarter is an encouraging sign that conditions in our key markets have improved. As a result of the initiatives we undertook in 2009, we are better positioned to capitalize on opportunities in these markets if demand remains strong. We will continue to monitor key economic indicators and do our best to manage potential headwinds such as increased raw material and energy costs. We remain optimistic that 2010 will result in outstanding full year performance."

16:25

PRGN Paragon Shipping entered into shipbuilding contracts with a Chinese shipyard (5.01 +0.08)

Co has entered into shipbuilding contracts with a Chinese shipyard for the construction of two Handysize drybulk vessels, each ~37,200 deadweight tons, or dwt, and two Kamsarmax drybulk vessels, each ~82,000 dwt, for an aggregate purchase price of ~$111.5 million. The Company expects to take delivery of the Handysize drybulk vessels in the fourth quarter of 2011 and the Kamsarmax drybulk vessels in the second and third quarters of 2012. Co has the option to build an additional two Handysize and two Kamsarmax drybulk vessels with expected deliveries in the third and fourth quarters of 2012, respectively.

16:25

AXS AXIS Capital beats by $0.19, beats on revs (32.31 +0.16)

Reports Q1 (Mar) earnings of $0.67 per share, $0.19 better than the Thomson Reuters consensus of $0.48; revenues rose 6.9% year/year to $1.24 bln vs the $1.2 bln consensus. Combined ratio of 98.3% increased 11.7 percentage points compared with 86.6%, driven by the significant level of catastrophe activity this quarter. Diluted book value per common share of $34.56, an increase of 3% from December 31, 2009

16:23

UWBK United Western Bancorp rescheduled Annual Meeting of Shareholders from May 13, 2010 to July 30, 2010 (2.20 +0.15)

16:20

CHH Choice Hotels beats by $0.01, misses on revs; guides Q2 EPS; guides FY10 EPS in-line (38.87 -0.43)

Reports Q1 (Mar) earnings of $0.27 per share, $0.01 better than the Thomson Reuters consensus of $0.26; revenues fell 6.0% year/year to $107.4 mln vs the $110.3 mln consensus. Domestic system-wide revenue per available room declined 10.3% for the first quarter of 2010 compared to the same period of 2009. Co sees EPS of at least $0.42 vs. $0.44 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $1.68-$1.72 vs. $1.68 Thomson Reuters consensus. The co expects net domestic unit growth of approximately 2% in 2010. RevPAR is expected to decline approximately 2% for second quarter of 2010 and decline between 1% and 3% for full-year 2010.

16:19

RCII Rent-A-Center beats by $0.10, beats on revs; guides Q2 revs in-line; guides FY10 EPS above consensus, revs in-line (25.71 +0.54)

Reports Q1 (Mar) earnings of $0.77 per share, including $3.0 million in pre-tax litigation credits, or approximately $0.03 per share, related to the Hilda Perez matter, $0.10 better than the Thomson Reuters consensus of $0.67; revenues fell 1.3% year/year to $718.4 mln vs the $706.8 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $670-680 mln vs. $672.87 mln Thomson Reuters consensus. Co issues mixed guidance for FY10, sees EPS of $2.60-2.80 vs. $2.50 Thomson Reuters consensus; sees FY10 revs of $2.725-2.780 bln vs. $2.74 bln Thomson Reuters consensus.

16:18

RIG Transocean provides Deepwater Horizon update (88.00 -1.89)

Co provided the following update on the Deepwater Horizon and the company's role in supporting BP Exploration & Production, Inc. and the Unified Area Command in stemming the flow of hydrocarbons from the well. The Deepwater Horizon is insured for total loss coverage and for wreck removal, to the extent removal can be carried out and is required. The total insured value of the rig is $560 million. The rig sank in the U.S. Gulf of Mexico after an explosion and fire last week, and it is now located on the sea floor approximately 1,500 feet northwest of the well center and away from any subsea pipelines. Transocean is committing all necessary resources to support ongoing efforts to stop the flow of hydrocarbons from the well.

16:18

HXL Hexcel beats by $0.04, beats on revs (14.62 -0.08)

Reports Q1 (Mar) earnings of $0.15 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.11; revenues fell 14.4% year/year to $263 mln vs the $259 mln consensus. Co says, "our previous 2010 planning assumption was flat to slightly declining sales due to uncertainty in our wind energy and regional and business aircraft sub-markets as well as concerns about aircraft build rate reductions for large commercial aircraft. While we still do not anticipate a near-term return to historic levels of growth in wind energy and regional and business aircraft, we are now more optimistic about large commercial aircraft prospects which accounted for over 45% of this quarter's sales. The apparent end of inventory corrections, recent announcements of modest increases in large aircraft build rates and good progress on new composite-rich programs leads us to believe we will return to year over year quarterly growth in total sales."

16:18

GVP GSE Systems acquires TAS holdings limited (5.69 +0.01)

Co announced today the acquisition of TAS Holdings Limited, which does business under the name TAS Engineering Consultants. TAS is an engineering consulting company specializing in electrical system design, instrumentation and controls engineering, automation engineering and safety consultancy. They also provide computer modeling services for major electrical generation and distribution systems including traditional and renewable power. The majority of TAS's customers reside in the petroleum refining, oil and gas, chemical, petrochemical, process and power industries.GSE paid approximately $123,000, and 123,000 shares of GSE common stock at closing and based upon current estimates will be obligated to pay an additional approximately $92,000 on or before September 30, 2010. In addition, if TAS attains certain pre-tax net income levels for the years ending December 31, 2010 and 2011, the shareholders of TAS could receive up to an additional approximately $1 million. GSE has the option to pay 50% of such additional amount in GSE common stock.

16:18

NANO Nanometrics announces follow-on shipments and qualification of UniFire for high volume production (10.51 0.00)

Co announced that additional UniFire 7900 metrology systems have been delivered and qualified by an existing customer, and are currently in production for high volume manufacturing process control of advanced wafer-level packaging processes.

16:16

ZN Zion Oil & Gas announces rights offering at $5.00/share (6.00 )

16:16

STR Questar E&P reports Q1 2010 production, raises 2010 production guidance (50.69 +0.08)

Co's subsidiary Questar Exploration and Production Company reported first-quarter 2010 production and provided an update on the company's recent well results in its core operating areas. Questar E&P reports first-quarter 2010 production of 51.5 Bcfe, raises 2010 production guidance to 212-217 Bcfe Questar E&P reported production of 51.5 Bcfe in the first quarter of 2010, an increase of 10% compared to 46.9 Bcfe in the first quarter of 2009. Natural gas comprised 90% of first-quarter 2010 production. During the fourth quarter of 2009, Questar E&P net production was 55.4 Bcfe. Fourth-quarter 2009 production volumes benefited from flush production from wells returned to sales after price-related shut-ins and curtailments in the second and third quarters, and the completion during the fourth quarter of an inventory of standing drilled and cased wells.

16:16

ANAD Anadigics beats by $0.01, beats on revs; guides Q2 EPS above consensus, revs above consensus (5.34 +0.16)

Reports Q1 (Mar) loss of $0.04 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of ($0.05); revenues rose 42.9% year/year to $43.5 mln vs the $42.5 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.01 vs. ($0.03) Thomson Reuters consensus; sees Q2 revs of $48.7 mln vs. $45.27 mln Thomson Reuters consensus.

16:15

ELX Emulex beats by $0.14, reports revs in-line; guides Q4 EPS in-line, revs below consensus (13.66 +0.35)

Reports Q3 (Mar) earnings of $0.30 per share, $0.14 better than the Thomson Reuters consensus of $0.16; revenues rose 33.4% year/year to $102.2 mln vs the $102.5 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.16-0.18 vs. $0.18 Thomson Reuters consensus; sees Q4 revs of $100-103 mln vs. $106.68 mln Thomson Reuters consensus.

16:14

AMGN Amgen appoints Robert A. Bradway president and COO effective May 11th (58.43 -0.45)

16:13

HMA Health Management beats by $0.02, misses on revs; guides FY10 EPS in-line (8.67 -0.19)

Reports Q1 (Mar) earnings of $0.19 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.17; revenues rose 10.3% year/year to $1.28 bln vs the $1.3 bln consensus. Co issues in-line guidance for FY10, sees EPS of $0.56-0.61 vs. $0.57 Thomson Reuters consensus.

16:13

RSH RadioShack beats by $0.03, beats on revs (22.91 -0.26)

Reports Q1 (Mar) earnings of $0.39 per share, $0.03 better than the Thomson Reuters consensus of $0.36; revenues rose 4.0% year/year to $1.04 bln vs the $1 bln consensus. Comparable store sales for co-operated stores and kiosks increased 4.7% during the 1Q10, compared with the 1Q09. The co ended the quarter with a cash balance of $871.8 mln. Inventories stood at $688.7 mln at the end of the quarter, up $18.1 mln compared to inventory at year-end 2009 and up $112.9 mln compared to the end of the 2009 first quarter. This increase in inventory is primarily associated with investments in wireless products in support of the strong growth in the wireless platform.

16:12

ACGL Arch Capital beats by $0.22, misses on revs (76.09 +0.09)

Reports Q1 (Mar) earnings of $1.78 per share, $0.22 better than the Thomson Reuters consensus of $1.56; revenues fell 6.7% year/year to $767.8 mln vs the $817.6 mln consensus.

16:11

USEG U.S. Energy updates oil and gas driling initiatives (6.05 -0.23)

Co announced results from two recently drilled prospects with partner PetroQuest Energy (PQ), both located in the Gulf Coast region, results from an initial test well in southern Louisiana with Yuma Exploration and Production co, an expansion of its drilling programs with PetroQuest and Houston Energy and an update on its Williston Basin drilling program. The co recently received drill results on the previously announced PetroQuest wells known as the Sugarloaf and Pacific Dunes prospects that were both operated by a large independent operator. The co was notified that both wells have been drilled to total depth, and both have been deemed to be non-productive. Total participation costs to USEG for these wells are expected to be approximately $3.6 mln. Looking forward, USEG recently entered into an agreement to acquire a 50% after casing point working interest in a test well with PetroQuest in the South Chauvin Field, located in Terrebonne Parish, Louisiana. Under the terms of the agreement USEG will be responsible for approximately 53.3% of the drilling costs, or approximately $2.4 mln. The co recently expanded its relationship Houston Energy, with USEG entering into an agreement to acquire a 10% after casing point working interest in initial test wells in up to five prospect areas in the Permian Basin in west Texas. Under the terms of the agreement, USEG will pay sunk land costs and fees of approximately $310,000. In addition, the co will be responsible for 13.33% of all drilling and completion costs, with the total 8/8ths costs per well estimated at $1.95 mln. The first initial test well is expected to spud no later than June 1, 2010 with a planned drilling dept of just over 13,000 feet. The Sedlacek Trust 33-4 #1H well, the tenth well to be drilled under the Drilling Participation Agreement with Brigham (BEXP), was spud mid-March, 2010 and is currently scheduled to commence completion initiatives on May 15, 2010. U.S. Energy's initial working interest in this well is approximately 44% (~35% net revenue interest). As with the previously drilled wells in the program, this well is targeting the middle Bakken formation, and was drilled to a total measured depth of approximately 20,000 feet.

16:10

EXTR Extreme Networks beats by $0.02, reports revs in-line; guides Q4 EPS midpoint above consensus, revs above consensus (3.52 )

Reports Q3 (Mar) earnings of $0.06 per share, $0.02 better than the Thomson Reuters consensus of $0.04; revenues rose 1.3% year/year to $78.2 mln vs the $78 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.05-0.07 vs. $0.05 Thomson Reuters consensus; sees Q4 revs of $82-85 mln vs. $81.50 mln Thomson Reuters consensus. "Third quarter revenue reflected solid performance in North America, where product revenue increased 30% from the second quarter, reversing a historic pattern of sequential revenue declines as we executed to our target for the quarter... We also posted positive net income and grew revenue-per-employee to the highest level since the fourth quarter of fiscal 2008."

16:09

VECO Veeco Instruments beats by $0.01, reports revs in-line; guides Q2 EPS above consensus, revs above consensus (51.06 -0.55)

Reports Q1 (Mar) earnings of $0.49 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.48; revenues rose 159.9% year/year to $163.2 mln vs the $163.9 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.78-0.90, excluding non-recurring items, vs. $0.59 Thomson Reuters consensus; sees Q2 revs of $220-240 mln vs. $195.88 mln Thomson Reuters consensus. Co said, "We continue to see strong momentum in our LED business. We believe our TurboDisc K465i MOCVD System has hit the market at the right time, offering high productivity and best-in-class yields. As a result, Veeco has been gaining share and winning business at many of the world's top LED manufacturers. To date, second quarter business patterns remain extremely strong, with multi-tool system orders being quoted at a large number of customers. In fact, several key Asian customers have already booked sizeable orders in April"

16:08

VLTR Volterra Semi beats by $0.08, beats on revs (28.19 +0.55)

Reports Q1 (Mar) earnings of $0.35 per share, $0.08 better than the Thomson Reuters consensus of $0.27; revenues rose 98.4% year/year to $36.3 mln vs the $35.1 mln consensus.

16:06

CNI Canadian Natl Rail beats by $0.05, reports revs in-line (63.41 )

Reports Q1 (Mar) earnings of $0.80 per share, $0.05 better than the Thomson Reuters consensus of $0.75. CN's favorable first-quarter results and assumption of a stronger economic recovery going forward have led the Company to revise its 2010 earnings estimate upward, even though CN faces the prospect of a higher than anticipated Canadian dollar. In percentage terms, CN is now aiming for solid double-digit growth in 2010 adjusted diluted EPS over adjusted diluted EPS of C$3.24 in 2009, and expects free cash flow in the order of C$1 billion for the year. CN's revised 2010 free cash flow outlook is a result of the Company's good first-quarter performance, its higher earnings forecast for the year, and cash proceeds from the Toronto rail-line sale.

16:05

PLXT PLX Tech beats by $0.03, beats on revs; guides Q2 revs in-line (6.35 +0.44)

Reports Q1 (Mar) earnings of $0.07 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.04; revenues rose 74.5% year/year to $28.8 mln vs the $28 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $28-31 mln vs. $28.95 mln Thomson Reuters consensus.

16:05

PQ PetroQuest Energy updates first quarter production guidance and updates operating activities (6.21 -0.10)

Co announced that it is updating its first quarter 2010 production guidance to approximately 86 Mmcfe per day from its previously issued guidance of 83 - 88 Mmcfe per day. The revised guidance represents an approximate 5% increase from the Company's production rate during the fourth quarter of 2009. Operations Update The Company has reached total depth on three horizontal Woodford wells utilizing the same pad. The Company expects to commence completion activities on the first of the three wells, a 6,562 foot lateral, in approximately one week, with first production expected in approximately two weeks. Production from the second and third wells, 5,256 foot and 5,391 foot laterals, respectively, is expected to commence in approximately four weeks. In addition, the Company has reached total depth on another horizontal Woodford well, a 4,305 foot lateral. The Company's working interest in these four wells range between 47% and 85%.

16:04

SANM Sanmina-SCI beats by $0.04, beats on revs; guides Q3 EPS above consensus, revs above consensus (19.22 +0.25)

Reports Q2 (Mar) earnings of $0.29 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.25; revenues rose 27.5% year/year to $1.53 bln vs the $1.51 bln consensus. Co issues upside guidance for Q3, sees EPS of $0.30-0.36 vs. $0.29 Thomson Reuters consensus; sees Q3 revs of $1.55-1.65 vs. $1.55 bln Thomson Reuters consensus. Operating margin for the second quarter was 3.7 percent, up 40 basis points, compared to 3.3 percent in the prior quarter and a 270 basis point improvement compared to 1 percent in the second quarter fiscal 2009.

16:04

AAN Aaron's beats by $0.01, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (23.25 )

Reports Q1 (Mar) earnings of $0.45 per share, $0.01 better than the Thomson Reuters consensus of $0.44; revenues rose 4.5% year/year to $495.3 mln vs the $485.9 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.37-0.41 vs. $0.38 Thomson Reuters consensus; sees Q2 revs of $445 mln vs. $446.77 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $1.48-1.60 vs. $1.50 Thomson Reuters consensus; sees FY10 revs of $1.85 bln vs. $1.86 bln Thomson Reuters consensus.

16:03

MSPD Mindspeed beats by $0.04, beats on revs; guides Q3 revs above consensus (9.01 +0.35)

Reports Q2 (Mar) earnings of $0.15 per share, $0.04 better than the Thomson Reuters consensus of $0.11; revenues rose 52% year/year to $40.3 mln vs the $39.7 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $42.3-43.9 mln vs. $40.79 mln Thomson Reuters consensus. any. The company expects fiscal third quarter of 2010 non-GAAP gross margin to be approximately 64%, excluding potential patent sales, if any. The company also expects non-GAAP operating expenses to be approximately $21.5 mln in the fiscal third quarter of 2010.

16:03

HTLF Heartland Finl beats by $0.11 (18.10 +0.17)

Reports Q1 (Mar) earnings of $0.24 per share, $0.11 better than the Thomson Reuters consensus of $0.13. Net income of $5.3 million for the quarter; Net interest margin of 4.14% for the quarter compared to 4.04% in 4Q09; Net interest income increased $3.6 million or 12% over the first quarter of 2009; Nonperforming assets decreased during the quarter to $107.1 million -- Allowance for loan and lease losses increased to 1.96% of total loans and leases; Total loans increased $38.1 million or 2% since year-end 2009; Noninterest income decreased during the quarter as residential mortgage loan refinance activity slowed

16:03

NFX Newfield Expl Provides Operational Update; $700 million, 45%, of 2010 capital investments now directed to oil projects; 2010 domestic oil production expected to grow 20% over 2009 (57.15 +0.41)

Co provided a detailed update on operations in its core operating regions. Basins. Co now expects to invest approximately $700 million in oil projects in 2010, or nearly 45% of its total budget. This is a shift of capital investments to oil of approximately $200 million since the beginning of the year budget. At current oil prices, cos growing crude oil volumes are expected to account for about 60% of 2010 revenues. The re-allocation of the 2010 budget will have no impact on total capital investments, which remain at $1.6 billion.As a result of the re-allocation in capital expenditures, the Company's 2010 domestic crude oil production is expected to increase throughout the remainder of the year and grow approximately 20% over 2009 levels. Total co oil production is expected to be approximately 8% above 2009 oil production. Spending reductions in planned gas development programs will offset new oil investments.

16:03

WOOF VCA Antech misses by $0.01, reports revs in-line; reaffirms FY10 EPS guidance, revs guidance (28.37 -0.06)

Reports Q1 (Mar) earnings of $0.37 per share, $0.01 worse than the Thomson Reuters consensus of $0.38; revenues rose 4.7% year/year to $330.7 mln vs the $332.3 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.60-1.68 vs. $1.64 Thomson Reuters consensus; sees FY10 revs of $1.39-1.42 bln vs. $1.39 bln Thomson Reuters consensus. "The combination of lower margins at acquired animal hospitals, and a decline in same-store margins due to a decline in same-store revenue, has caused our animal hospital gross margin to decrease to 16.9% compared to 18.1% for the comparable prior year quarter, and our animal hospital operating margin to decline to 14.6% compared to 16.0% for the comparable prior year quarter. Our same-store revenue declined by 1.6% and our same-store gross profit margin declined to 17.4% from 18.3%."

16:02

IPCM IPC The Hospitalist reports EPS in-line, misses on revs; reaffirms FY10 EPS guidance, revs guidance (33.75 -1.03)

Reports Q1 (Mar) earnings of $0.35 per share, in-line with the Thomson Reuters consensus of $0.35; revenues rose 15.2% year/year to $87.7 mln vs the $89 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.34-1.43 vs. $1.42 Thomson Reuters consensus; sees FY10 revs of $352-361 mln vs. $363.85 mln Thomson Reuters consensus. "Our record first quarter results, including a 15% increase in net revenue, reflect our continued ability to grow our top line from both existing markets and new market acquisitions. As we grew our top-line, we were able to leverage our corporate overhead, which contributed to an 80 basis point improvement in our operating margin for the quarter."

16:02

SONO SonoSite misses by $0.01, misses on revs (32.71 -0.25)

Reports Q1 (Mar) earnings of $0.08 per share, $0.01 worse than the Thomson Reuters consensus of $0.09; revenues rose 7.9% year/year to $55.9 mln vs the $57.5 mln consensus. Co says "We believe we will see improvement in our international business. We have updated our revenue outlook for the year and now expect growth between 10-12%. We are also reaffirming our EBIT margin targets of 11-13%."

16:02

ULTA Ulta Salon Appoints Chuck Rubin as President and Chief Operating Officer (24.97 -0.39)

Co announced that Chuck Rubin will join the Company as President and Chief Operating Officer and as a member of our Board of Directors effective May 10, 2010. Mr. Rubin joins Ulta from Office Depot where he served as President North American Retail. Following a transition period of up to four months, Mr. Rubin will become Chief Executive Officer. Lyn Kirby will continue as Chief Executive Officer through the transition period and thereafter will provide guidance and counsel as a member of the Company's Board of Directors through March 17, 2011.

16:01

OMCL Omnicell misses by $0.01, beats on revs (13.74 -0.81)

Reports Q1 (Mar) earnings of $0.09 per share, $0.01 worse than the Thomson Reuters consensus of $0.10; revenues rose 3.8% year/year to $54.2 mln vs the $53.6 mln consensus. "I am pleased with our performance and results in the first quarter of 2010... Both domestically and internationally, our solutions continue to resonate with new and existing hospital customers who are seeking a trustworthy partner and expert advisor for adding the safest and most effective medication and supply automation capabilities to their operations."

16:01

CAVM Cavium Networks beats by $0.03, beats on revs (27.33 -0.10)

Reports Q1 (Mar) earnings of $0.14 per share, $0.03 better than the Thomson Reuters consensus of $0.11; revenues rose 103.9% year/year to $41.6 mln vs the $40.7 mln consensus. "Our record sales and strong sequential sales growth came from strength across multiple markets and geographies. We had record bookings again this quarter for both our chip and software businesses, which is an indicator of the strong trends we are experiencing. Furthermore, non-GAAP gross margins increased 450 basis points sequentially due to improved product mix and reduced manufacturing costs, and operating margins increased 470 basis points sequentially, which shows the continued leverage in our business model," said Syed Ali, president and CEO of Cavium Networks. "Design win traction was very strong, especially for recently introduced products including our Next Generation OCTEON II family of multi-core processors as well as our other key product families."

16:00

BKCC BlackRock Kelso Announces the Extension of Its Amended Credit Facility, Addition of New Lender (11.48 -0.10)

Co entered into an amendment to its $545 million senior secured, multi-currency credit facility.The amendment extends through December 6, 2013 certain existing lenders' commitments totaling $300 million, consisting of $200 million of revolving loan commitments and $100 million of term loan commitments.Subsequent to the amendment becoming effective, the Company received a binding commitment from a new lender of $50 million, subject to definitive documentation. The addition of this revolving credit commitment would bring the total commitments that extend through December 2013 to $350 million. Non-extending lender commitments of $245 million, consisting of $200 million of revolving loan commitments and $45 million of term loan commitments, mature on December 6, 2010 unless they are extended prior to that date. Pricing for outstanding borrowings made by non-extending lenders will remain at LIBOR plus 0.875% with respect to revolving loans and LIBOR plus 1.50% with respect to term loans.

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