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

Jun 08, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 08-Jun-10 07:00 ET

06:56

BP BP announces 1Q10 dividend of $0.84/ADS; record date was May 7, 2010 (36.76 )

06:50

SCANX Early premarket gappers -Technical-

Gapping up: DEPO +10.6%, AONE +5.0%, BHP +2.1%, BBL +1.7%, ALTR +1.2%, RTP +1.0%, GLD +0.5%.

Gapping down: WX +-2.8%, PBY +-2.7%, LYG +-2.6%, BP +-2.3%, VOD +-1.4%.

06:26

S&P futures vs fair value: flat. Nasdaq futures vs fair value: +1.50.

06:26

Asian Markets: Nikkei...9537.94...+17.10...+0.20%. Hang Seng...19487.48...+109.30...+0.60%

06:26

European Markets: FTSE...5011.98...-57.10...-1.10%. DAX...5834.80...-69.80...-1.20%

06:25

On The Wires

Clarient (CLRT) announces that the UK Patent Office has granted a UK patent on the co's TLE3 biomarker, a marker which may be used to predict which cancer patients will respond favorably to taxane therapy. Co also receives a Notice of Allowance from the U.S. Patent and Trademark Office for a U.S. patent on the TLE3 biomarker... Integra LifeSciences (IART) announces a milestone in the commercialization of the Vu a-POD anterior lumbar intervertebral body fusion device. The Vu a-Pod fusion device has now been implanted in over 800 patients in the U.S... Ascent Solar Technologies (ASTI) and Hydro announce the CIGS laminated modules from Ascent Solar are ready for beta test deployment at one of Hydro's aluminium building systems product development sites.

06:15

SMHG Sanders Morris Harris approves addition of 1.0 mln shares to stock repurchae program (5.18 )

06:14

LSCC Lattice Semiconductor reaffirms in-line 2Q10 revenue guidance (4.11 )

Co expects 2Q10 revenue to increase 6.0-10.0% on a sequential basis (translates into ~$74.66-77.47 mln vs $76.14 mln Thomson-Reuters consensus). Gross margin is expected to be ~57.0-59.0% of revenue. Co reaffirms its expectation for continued profitability in the second quarter of 2010, including a gain, net of tax, of approx $0.5 mln from the sale of excess real estate in China.

05:31

On The Wires

Silver Standard Resources (SSRI) reports on the ramp-up progress at its wholly-owned Pirquitas Mine in Argentina, which is on track to produce seven million ounces of silver as forecasted for 2010... First Solar (FSLR) announces its intent to expand its German manufacturing plant in Frankfurt an der Oder, doubling local production capacity... CNOOC Ltd. (CEO) announces that its BZ25-1/BZ25-1South oilfields, which suspended production due to facility damage caused by strong winds in November 2009, are back into production... BigBand Networks (BBND) announces reseller partnership with Technetix Group, a European broadband cable and telecommunications equipment supplier.

01:08

CHP C&D Tech misses by $0.11, misses on revs (1.14 )

Reports Q1 (Apr) loss of $0.21 per share, $0.11 worse than the Thomson Reuters consensus of ($0.10); revenues rose 15.0% year/year to $84.7 mln vs the $86.6 mln consensus. Regarding Q2 and beyond, co believes the decrease in commodity prices late in the first quarter, combined with continued growth in demand in Asia and end-market stability in the developed economies, bodes well for continued improvement in the fundamental drivers of business performance.

01:03

FCEL FuelCell Energy misses by $0.04, misses on revs (2.26 )

Reports Q2 (Apr) loss of $0.20 per share, $0.04 worse than the Thomson Reuters consensus of ($0.16); revenues fell 27.4% year/year to $16.6 mln vs the $21.9 mln consensus. Compared to the prior year quarter, revenues were down as the product mix transitioned to primarily stack modules sold to POSCO Power, FuelCell Energy's manufacturing and distribution partner in South Korea, compared to complete power plants sold in the prior year. Product sales backlog, including long-term service agreements, totaled $75.5 mln as of April 30, 2010 compared to $59.2 mln as of April 30, 2009.

00:59

On The Wires

GOL Linhas Aereas Inteligentes SA (GOL) records its highest demand in the domestic market for the second consecutive month in the year-on-year comparison since it began operations in 2001. Demand In May 2010 on GOL's total and domestic route network increased by 14.5% and 14.9%, respectively over the same month last year... Wright Medical Group (WMGI) announces that results of a prospective, randomized controlled clinical study evaluating biologic augmentation of challenging arthroscopic rotator cuff repairs with GRAFTJACKET Matrix were presented by F. Alan Barber, MD at the recent Arthroscopy Association of North America annual meeting. The study showed rotator cuff repairs augmented with Wright's GRAFTJACKET Matrix were intact in 84% of the patients while only 46% of those in the control group were intact as measured by magnetic resonance imaging.

00:50

AZZ AZZ extends offer for North American Galvanizing & Coatings; announces settlement of transaction-related litigation (34.88 )

Co announces that it has extended the expiration date of the tender offer by its affiliate, Big Kettle Merger Sub, for all outstanding common shares of North American Galvanizing & Coatings (NGA). The offer and withdrawal rights described in the Offer to Purchase dated May 7, 2010 have been extended and will now expire at 5:00 PM CST on June 14, 2010, unless the offer is further extended or earlier terminated. The tender offer had been previously scheduled to expire at 5:00 PM CST on June 7, 2010. Co also announces the settlement of the purported class action lawsuits filed in the Court of Chancery in the State of Delaware and in the respective District Courts of Rogers and Tulsa Counties in the State of Oklahoma related to the proposed acquisition of NGA. Under the terms of the settlement, among other things, AZZ and NGA have agreed to make certain additional information available to NGA stockholders.

18:26

NEM Newmont Mining of Canada Limited acquires 2,000,000 shares of Eurasian Minerals through private placement (55.16 +1.45)

Co announced that its wholly owned subsidiary, Newmont Mining of Canada Limited, acquired 2,000,000 common shares ("Shares") of Eurasian Minerals Inc. ("Eurasian") by way of private placement at a price of Cdn $2.20 per Share for aggregate gross proceeds to Eurasian of Cdn $4,400,000. After giving effect to the private placement, Newmont beneficially owns and controls ~10.18% of the Shares.

18:26

Futures are lower after hours with S&P 500 futures 1.07 points below fair value of 1049.97 and Nasdaq 100 futures 2.61 points below fair value of 1798.36

18:11

ABK AMBAC Fincl announced that it has commuted all of its remaining $16.4 bln of exposure to collateralized debt obligations of asset-backed securities (1.03 -0.12)

Co announced the commutation agreement with several CDO of ABS counterparties provides that AAC will pay in the aggregate (i) $2.6 bln in cash and (ii) $2.0 bln of newly issued surplus notes of AAC. Additionally, (i) certain non-CDO of ABS transactions with par or notional amounting to ~$1.4 bln were commuted for cash payments of $96.5 million and (ii) it is expected that, subject to certain conditions, certain other non-CDO of ABS exposures with par amounting to a maximum of ~$1.5 bln will be commuted within the next twelve months for a maximum amount of ~$115 mln of cash plus $60 mln of surplus notes of AAC.

17:30

ENG ENGlobal Board approves new stock repurchase program of up to one mln shares of its common stock (2.28 -0.12)

The buyback program will be financed out of internally generated corporate funds or from funds available under its $25 mln revolving line of credit facility.

17:30

PLD ProLogis signs two new build-to-suit agreements (10.08 -0.02)

Co announced it has signed two build-to-suit agreements, totaling ~522,000 square feet (48,500 square meters). These transactions will be Q2 development starts and represent ~$60 mln of total expected investment. Including previously announced development transactions, these transactions bring ProLogis' year-to-date 2010 global development starts to ~$437 mln of total expected investment with ~$133 mln of ProLogis land. Combined with year-to-date third-party sales of ~$47 mln, PLD has monetized $180 mln of land. The co has established goals of $700-800 mln of global development starts and $350-400 mln of land monetization during 2010.

17:27

UAUA United Airlines Reports May 2010 Operational Performance: Total consolidated RPMs increased in May by 7.5% on an increase of 3.3% in ASMs (20.30 -0.79)

Co today reported its preliminary consolidated traffic results for May 2010. Total consolidated revenue passenger miles (RPMs) increased in May by 7.5% on an increase of 3.3% in available seat miles (ASMs) compared with the same period in 2009. This resulted in a reported May consolidated passenger load factor of 83.3%, an increase of 3.3 points compared to 2009. For May 2010, consolidated passenger revenue per available seat mile (PRASM) is estimated to have increased 25.5% to 26.5% year over year. Consolidated PRASM is estimated to have increased 3.2% to 4.2% for May 2010 compared to May 2008, 2.2 percentage points of which were due to growth in ancillary revenues.

17:16

SYA Symetra Financial announced that its board of directors has named Thomas M. Marra as president (12.25 -0.28) -Update-

Marra brings to Symetra 30 years of insurance experience. He joined The Hartford Financial Services Group, Inc., in 1980 as an actuarial student and subsequently held increasingly senior positions at the company. Marra served as president and chief operating officer of The Hartford Financial Services Group from 2007 to 2009.

17:15

CAG ConAgra Foods announces agreement to sell Gilroy Foods & Flavors' Dehydrated and Vegetable Product Operations for $250 mln; long-term guidance not impacted by transaction (24.00 -0.21)

Co announced under the terms of the agreement, CAG will sell substantially all of the assets of Gilroy Foods & Flavors' dehydrated garlic, onion, capsicum and Controlled MoistureTM, GardenFrost, Redi-MadeTM and fresh vegetable operations, all of which are part of the Commercial Foods reporting segment. Sales for those operations were ~$300 mln in FY10. The transaction is expected to close within 30 to 60 days

17:09

ELX Emulex to acquire ServerEngines (9.65 -0.46)

Co announced that it has signed a definitive agreement to acquire ServerEngines Corporation, a privately held, fabless semiconductor company founded in 2004 and headquartered in Sunnyvale, California.

17:08

HLYS Heelys Announces New COO/CFO (2.75 -0.01)

Co announed that Craig D. Storey has joined HLYS as chief operating officer/chief financial officer effective today. Storey was, most recently, CEO/CFO for Ft. Collins, Colorado based Sprig Toys. Prior to that he was with Radica Games, a Hong Kong based toy and gaming company with offices in Dallas, which is now part of Mattel, for twelve years.

17:01

TAC TransAlta declares force majeure for its Sundance 3 thermal power plant (19.50 +0.03)

Co announced it has declared force majeure due to the mechanical failure of critical generator components at its 353 megawatt (MW) Sundance 3 thermal plant located in Wabamun, Alberta. The Sundance 3 unit is expected to be back in service by June 20, running at a reduced capability estimated at 330 MW. The actual capability of the unit will be determined once on-line testing is completed. The unit is expected to return to full capability after a major maintenance outage is completed in 2012 due to the 18-24 month lead time required to acquire a new generator stator winding.

17:00

GVA Granite Construction awarded $22 mln Highway Widening Project in California (26.50 -1.06)

Co announced that Granite Construction Company has been awarded a $22 mln contract by the California Department of Transportation for the widening of approximately seven miles of Highway 46 near Bakersfield, CA.

16:53

NWY New York & Co now projects its second quarter loss per share to widen from its previous expectations provided on May 20, 2010 (3.28 -0.16)

Co reported that based on current business trends, including comparable store sales over the past three weeks, the co now projects its Q2 loss per share to widen from its previous expectations provided on May 20, 2010 (Previously, co reported its expects a loss per diluted share from continuing operations for Q2 of FY10 to be greater than the year-ago period... In Q2 of last year the co reported EPS of ($0.08), current consensus for Q2 is ($0.12)). Regarding its revised outlook for Q2 of FY10, the co provided the following information: Comparable store sales are expected to be approximately flat. Merchandise margins are projected to decrease by ~900 basis points versus last year reflecting higher levels of promotional activity.

16:44

BWS Brown Shoe reports same-store sales increase 16.0% for the four-weeks ended May 29, 2010; consolidated net sales increase 16.9% and Famous Footwear comparable (15.09 +0.17) -Update-

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