Briefing.com: Hourly In Play (R) – 08:00 ET

Feb 18, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 18-Feb-10 08:00 ET

07:59

PRGO Perrigo Announces FDA Final Approval for Ciclopirox Shampoo

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07:50

BT BT Group PLC: S&P lowered ratings to 'BBB-'/'A-3' On Pension Deficit Volatility And Recovery Plan; Outlook Stable (18.38 )

S&P lowered its long-term corporate credit rating on leading U.K. telecommunications provider BT Group PLC (BT), along with its long-term corporate credit and senior unsecured debt ratings on wholly owned subsidiary British Telecommunications PLC, to 'BBB-' from 'BBB'. At the same time, the short-term rating on BT and on British Telecommunications was lowered to 'A-3' from 'A-2'. The outlook is stable. The downgrade follows BT's announcement of its pension deficit recovery plan.

07:48

PDE Pride Intl misses by $0.01, reports revs in-line (30.73 )

Reports Q4 (Dec) earnings of $0.16 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.17; revenues fell 35.4% year/year to $316.7 mln vs the $314.6 mln consensus. In commenting on the company's deepwater drillships under construction, CEO commented, "Our strategic decision in 2005 to focus and expand our presence in the deepwater sector will reach a significant milestone during the first quarter of 2010 with the delivery of the Deep Ocean Ascension, the first of four ultra-deepwater drillships under construction. The rig is expected to exit the shipyard in Korea on time and on budget and begin mobilization to the U.S. Gulf of Mexico where it is scheduled to commence a five-year program with BP during the third quarter of 2010 following field testing and client acceptance. The arrival of the rig will mark the company's entry into the strategically important deepwater Gulf of Mexico. The company's second ultra-deepwater drillship, the Deep Ocean Clarion, is expected to exit the yard in Korea in August 2010, commencing a five-year contract with BP in the U.S. Gulf of Mexico during January 2011."

07:39

VTR Ventas beats by $0.02; guides FY10 FFO in-line (44.17 )

Reports Q4 (Dec) funds from operations of $0.67 per share, $0.02 better than the First Call consensus of $0.65. Co issues in-line guidance for FY10, sees FFO of $2.69-2.75 vs. $2.72 consensus.

07:39

MIM MI Developments announces filing of plan of reorganization by Magna Entertainment (12.31 )

Co announced that Magna Entertainment Corp. ("MEC") has filed a Plan of Reorganization, jointly proposed with MID and the Official Committee of Unsecured Creditors of MEC (the "Committee"), together with a Disclosure Statement, with the U.S. Bankruptcy Court for the District of Delaware in connection with the bankruptcy proceedings of MEC under Chapter 11 of the U.S. Bankruptcy Code and the settlement of the action commenced on July 21, 2009 by the Committee against, among others, MID and MEC. The settlement in principle of the action was announced by MID on January 11, 2010. The Plan is subject to the confirmation of the Bankruptcy Court.

07:39

On The Wires

AT&T (T) and Motorola (MOT) announced that the Motorola BACKFLIP with MOTOBLUR will be available in AT&T stores nationwide and online beginning March 7... Derma Sciences (DSCI) announces that it has signed an exclusive distribution agreement with Medline Industries for sales of one of its key products - BIOGUARD Barrier Dressing - into the acute care market. Medline is the 2nd leading provider of traditional wound care products into Acute Care facilities, with over 800 sales representatives. Sales will begin this month.... GreenScreen Animals announced its HD stock footage animal content is now distributed by Getty Images (GYI).

07:38

NBL Noble Energy announces 2010 plans; total capital investment program is estimated at $2.5 bln (76.44 ) -Update-

Co announces its 2010 capital budget and guidance. The Company's total capital investment program is estimated at $2.5 billion, with 40 percent going toward major project developments, 20 percent for exploration and appraisal activities, and the remaining 40 percent for ongoing maintenance and near-term growth opportunities. Approximately 55 percent of the total is to be spent in the United States with the other 45 percent allocated to international activities... For 2010, total volumes are estimated to average between 211 to 224 thousand barrels of oil equivalent per day, which includes equity method investment volumes. The price differential for crude oil in the United States is expected to range from $4.00 to $5.00 per barrel below WTI. Crude oil differentials in West Africa and North Sea are based off dated Brent and should range from $0.00 to $1.00 per barrel. In China, crude oil differentials should be $6.00 to $8.00 per barrel below WTI. The natural gas price differential for the United States is expected to range from $0.25 to $0.75 per Mcf below NYMEX Henry Hub and includes a Btu processing uplift where applicable.

07:37

KBW KBW misses by $0.15, misses on revs (27.44 )

Reports Q4 (Dec) earnings of $0.15 per share, $0.15 worse than the First Call consensus of $0.30; revenues fell 28.9% year/year to $87.1 mln vs the $110.2 mln consensus. John G. Duffy, Chairman and Chief Executive Officer, said "I am pleased to note that our results for 2009 reflect record levels for equity capital markets and fixed income revenues. Our quarterly results were impacted by the typical year-end slow down which began earlier than usual in the fourth quarter."..."We believe that our market share in many business areas has improved during the year and we are well positioned to continue to assist in the recapitalization and restructuring of the banking sector. We have continued to work on expanding our presence in the equity REIT sector and on our expansion into Asia and hope to be fully operational there in the first quarter of 2010."

07:36

HRL Hormel Foods beats by $0.14, beats on revs; raises FY10 EPS guidance (40.59 )

Reports Q1 (Jan) earnings of $0.82 per share, $0.14 better than the First Call consensus of $0.68; revenues rose 2.2% year/year to $1.73 bln vs the $1.67 bln consensus. Co raises guidance for FY10, sees EPS of $2.68-2.78 vs. $2.66 consensus, up from $2.63-2.73 previously. "We anticipate higher hog costs as we progress through the year, and we recognize the strong investment performance in our rabbi trust last year will result in a more difficult comparison. Nevertheless, we believe our strong portfolio of branded products and the strength of our dedicated team should allow us to build upon the momentum of our excellent start."

07:33

TRA Terra Industries misses by $0.58, misses on revs; confirms approval to be acquired by YARA for $41.10 per share (40.87 )

Reports Q4 (Dec) loss of $0.04 per share, excluding non-recurring items, $0.58 worse than the First Call consensus of $0.54; revenues fell 47.2% year/year to $361.1 mln vs the $420.6 mln consensus. Selling price declines decreased revenues by 53 percent, and were partially offset by sales volume gains in ammonia and urea, which increased revenues by 9 percent. The lower selling prices were due to generally weaker nitrogen demand related to the overall economic climate. The stronger ammonia and urea sales volumes reflect the timing of restocking activity through the fourth quarter and healthy sales into environmental markets. Terra announced on Feb. 15, 2010, that its Board of Directors had unanimously approved a definitive merger agreement under which Yara International will acquire all of the outstanding shares of Terra common stock for US$41.10 per share in cash. The transaction has a total equity value of approximately US$4.1 billion.

07:33

GLG GLG Partners beats by $0.01, beats on revs (2.85 )

Reports Q4 (Dec) loss of $0.01 per share, $0.01 better than the First Call consensus of ($0.02); revenues rose 57.9% year/year to $114.8 mln vs the $107.5 mln consensus. Emmanuel Roman, Co-CEO, commented: "Together with a robust infrastructure and a high level of transparency, we are well placed to accommodate the growing client interest in GLG and enjoy the benefits of operational leverage. It is confidence in our longer-term outlook that was the basis for our investments in our people and infrastructure throughout 2009. I am pleased we are already seeing positive results from these investments."

07:32

NBL Noble Energy misses by $0.12, reports revs in-line (76.44 )

Reports Q4 (Dec) earnings of $0.91 per share, $0.12 worse than the First Call consensus of $1.03; revenues rose 32.6% year/year to $760 mln vs the $766 mln consensus. Year-end 2009 estimated reserves were 820 million barrels of oil equivalent (MMBoe). Noble Energy added total proved reserves of 79 MMBoe, representing 103 percent of 2009 production, from discoveries, extensions, performance revisions and acquisitions. These reserve additions exclude negative revisions caused by lower prices and new SEC rules requiring the development of proved undeveloped reserves (PUDs) within five years.

07:30

STKL SunOpta provides update on arbitration ruling related to SunOpta BioProcess (2.88 )

Co provided details related to the recently rendered decision of the Arbitrator in SunOpta et al v Abengoa Bioenergy New Technologies. This action was initiated by SunOpta in early 2008 and subsequently was referred to arbitration in order to i) clarify disputed provisions of a Technology Development Agreement ("TDA") between the parties, and ii) to recover damages associated with breach of the TDA and misappropriation of trade secrets resulting from work completed by SunOpta under various agreements. After a hearing, the arbitrator ruled that, as a result of ABNT's decision to not purchase the required number of systems as per the TDA, ABNT forfeited its exclusive rights to exploit the system, and that SunOpta, in lieu of monetary damages, could sell the system to other cellulosic ethanol producers. Prior to the arbitrator's award, SBI had agreed in the TDA to abstain from entering the cellulosic ethanol market using the jointly developed technology. In addition, the arbitrator also ruled that the information SunOpta shared with ABNT during the parties' joint development work was not a trade secret, as that information could be found in the public domain.

07:21

WMT Wal-Mart beats by $0.05, reports revs in-line; guides Q1 and FY11 EPS in-line (54.06 )

Reports Q4 (Jan) earnings of $1.17 per share, $0.05 better than the First Call consensus of $1.12; revenues rose 4.5% year/year to $113.65 bln vs the $114.36 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.81-0.85 vs. $0.85 consensus. Co issues in-line guidance for FY11, sees EPS of $3.90-4.00 vs. $3.97 consensus. Co reports Q4 total U.S. comps of -1.6% vs -0.11% consensus and -0.4% last qtr; co guided for approx flat comps plus or minus 1%. Co reports Q4 gross margin of 24.9% vs 24.19% consensus; reported 25.76% last qtr and 24.30% a year ago. Walmart U.S. expects comparable store sales without fuel during the 13-week period from Sat., Jan. 30, through Fri., April 30, 2010 to be flat, plus or minus 1.0 percent, as compared to 3.6 percent for the comparable period last year. Sam's Club expects comparable club sales without fuel during the first quarter 13-week period to be flat, plus or minus 1.0 percent, which compares to 4.2 percent without fuel in the comparable period last year.

07:21

AMZN Amazon.com: Kindle for BlackBerry now available for free directly from Amazon (116.31 )

The co introduces "Kindle for BlackBerry," a new application available as a free download from Amazon.com that lets customers enjoy over 420,000 books, including 102 of 112 New York Times Bestsellers, on a range of BlackBerry devices. Amazon's Whispersync technology saves and synchronizes a customer's bookmarks across their Kindle, Kindle DX, iPhone, iPod touch, PC, BlackBerry and soon, Mac and iPad, so customers always have their reading material with them and never lose their place. Kindle is the most wished for, most gifted and #1 bestselling product on Amazon.com, and customers can now get the Kindle experience on their BlackBerry by downloading the free app... Customers using BlackBerry devices on AT&T, Sprint, T-Mobile, Verizon and other U.S. carriers can get easy wireless access to over 420,000 Kindle books, including New York Times Bestsellers and New Releases, most for $9.99 or less, by downloading the application for free.

07:18

WMB Williams Cos reports 2009 natural gas reserves; Proved, probable, possible reserves up 14% (22.39 )

Co announces that its total proved natural gas and oil reserves as of Dec. 31, 2009, were ~4.5 trillion cubic feet equivalent - including international reserves of ~0.2 Tcfe. Before adjusting for the effects of unusually low 2009 prices, total proved reserves would have been up 7% to 4.8 Tcfe with a reserves replacement rate of 173%. Using the same adjustment method, U.S. reserves would have also increased 7% to ~4.6 Tcfe. Approximately 97% of total proved reserves are natural gas, with approximately 57% proved developed and 43% proved undeveloped reflecting a continuation of the increase in the ratio of proved developed to undeveloped. Proved, probable, and possible reserves increased by 14% to 14.8 Tcfe from 13.0 Tcfe in 2008.

07:13

SFY Swift Energy beats by $0.10, beats on revs (27.89 )

Reports Q4 (Dec) earnings of $0.38 per share, $0.10 better than the First Call consensus of $0.28; revenues fell 21.0% year/year to $114.9 mln vs the $106.8 mln consensus. Swift Energy's year-end 2009 reserves consist of 112.9 MMboe, 3% less than 2008 year-end reserves of 116.4 MMboe. Of these reserves, 50% were proved developed, compared to 53% of reserves being classified as proved developed at year-end 2008. The decrease in year end reserve volumes is consistent with previously stated guidance of a 2% to 4% decrease attributable to reduced operating activity throughout 2009.

07:11

OGE OGE Energy reports Q4 EPS of $0.35 vs. $0.34 First Call Consensus; revs of $773.7 mln vs. $686.0 mln (36.97 +0.19)

OGE Energy sees FY10 EPS of $2.70-2.95 vs $2.89 First Call consensus. "Consolidated earnings reflect the benefits of our targeted capital investment programs in both businesses," said Pete Delaney, OGE Energy chairman, president and CEO. "The company continues to perform well in an uncertain economic environment. We are executing on our plans and remain well positioned to achieve our long-term growth targets."

07:10

WST West Pharm beats by $0.02, beats on revs; guides FY10 EPS in-line, revs in-line (36.97 )

Reports Q4 (Dec) earnings of $0.67 per share, $0.02 better than the First Call consensus of $0.65; revenues rose 19.8% year/year to $293.4 mln vs the $272.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.19-$2.39 vs. $2.37 consensus; sees FY10 revs of $1.09-$1.12 bln vs. $1.09 bln consensus.

07:09

GTIV Gentiva Health Svcs beats by $0.09, reports revs in-line; guides FY10 EPS above consensus, revs in-line (27.11 )

Reports Q4 (Dec) earnings of $0.63 per share, $0.09 better than the First Call consensus of $0.54; revenues rose 16.0% year/year to $310 mln vs the $308 mln consensus. Co issues guidance for FY10, sees EPS of $2.57-2.67 vs. $2.23 consensus; sees FY10 revs of $1.23-1.26 bln vs. $1.29 bln consensus.

07:08

AVA Avista misses by $0.02, beats on revs; reaffirms FY10 EPS guidance (20.36 )

Reports Q4 (Dec) earnings of $0.40 per share, $0.02 worse than the First Call consensus of $0.42; revenues fell 9.9% year/year to $403.3 mln vs the $391.8 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.55-1.75 vs. $1.67 consensus.

07:07

ULBI Ultralife beats by $0.03, misses on revs (4.17 )

Reports Q4 (Dec) earnings of $0.05 per share, $0.03 better than the First Call consensus of $0.02; revenues rose 2.4% year/year to $50.4 mln vs the $52.8 mln consensus. The company's 2010 operating plan calls for the company to generate revenue of $177 mln and operating income of approximately $4.6 mln on the base business.

07:07

NCI Navigant Consult reports EPS in-line, revs in-line (14.36 )

Reports Q4 (Dec) earnings of $0.18 per share, excluding non-recurring items, in-line with the First Call consensus of $0.18; revenues fell 10.3% year/year to $174 mln vs the $173.1 mln consensus. "We certainly enter 2010 with more confidence than we felt one year ago. But we must acknowledge that the economy and the markets remain under significant stress. While we were not satisfied with our financial performance in 2009, we took the actions needed to preserve an acceptable level of profitability while maintaining the key capabilities of the firm. We moved from defense to offense during the latter part of 2009 and expect those efforts to increasingly be reflected in our results as 2010 and 2011 progress. We expect to grow EPS and EBITDA in 2010 (consensus calls for 37% and 27% growth in FY10, respectively), we are well positioned to serve priority markets, and we have the financial flexibility to pursue our growth initiatives."

07:06

STC Stewart Info reports 4Q results (11.83 )

Stewart Info reports 4Q earnings of $1.49 vs $0.02 First Call consensus; revs increased 50% year/year to $503.1 mln vs $412.09 mln First Call consensus

07:05

INCY Incyte misses by $0.05, beats on revs (11.06 )

Reports Q4 (Dec) loss of $0.41 per share, excluding non-recurring items, $0.05 worse than the First Call consensus of ($0.36); revenues of $6.9 mln vs the $2.5 mln consensus. Co expects 2010 revenues of $66-$68 million, including $66 million of amortization of deferred revenue related to the Company's collaborations with Novartis and Lilly, but excluding any potential milestones received from collaborations (consensus is for revs of $38.7 mln)The Company expects cash use in 2010 to range from $165 million to $175 million, not including any potential milestones from its collaborative partners. This increase as compared to 2009 is primarily a result of the Company's increased investments in its clinical pipeline, particularly INCB18424 in MF and two of the other myeloproliferative neoplasms, PV and ET, pre product launch manufacturing and marketing costs for INCB18424 and the Phase II development of INCB28050 for rheumatoid arthritis. This cash use guidance also includes approximately $7 million for net lease related costs for the Company's closed California facilities. Excluded from this guidance are $19 million of cash escrowed for interest payments on the Company's 4.75% Convertible Senior Notes and any amounts used to redeem its 3 1/2% Convertible Senior and Subordinated Notes. On January 28, 2010, Incyte announced that it will redeem all of the outstanding 3 1/2% Convertible Senior and Subordinated Notes on February 22, 2010. The Company will use approximately $175.6 million in cash to redeem these Notes, assuming none of these Notes are converted.

07:04

PDCO Patterson Companies reports EPS in-line, misses on revs; narrows range for FY10 EPS (29.62 +0.01)

Reports Q3 (Jan) earnings of $0.47 per share, in-line with the First Call consensus of $0.47; revenues rose 1.1% year/year to $820.1 mln vs the $832.1 mln consensus. Co narrows its guidance range for FY10, now sees EPS of $1.74-$1.78 (vs. $1.76 consensus), compared to its previous forecast of $1.70-$1.80.

07:04

USAP Universal Stainless/Alloy announces stainless wire rod base price increase (19.10 )

Co announced a base price increase of 5% on all stainless wire rod manufactured at its Dunkirk Specialty Steel, LLC facility. The increase will be effective with all new orders entered on March 1, 2010 forward. Current material and energy surcharges will remain in effect.

07:04

VLNC Valence Tech, Beneteau group sign exclusive multi-year supply agreement worth up to $45 mln (0.82 )

Co announces the signing of a multi-year supply agreement with BJ Technologie, a subsidiary of Beneteau Group. Under the multi-year agreement, Valence Technology will serve as the exclusive battery supplier for all new Beneteau Group hybrid-electric vessels that incorporate the innovative ZF Marine hybrid drive systems. Valence Technology will provide modular, scalable energy storage systems that will be placed in new hybrid-electric yachts, sailboats and motorboats for Beneteau and Beneteau Group partners. Initial battery shipments under this agreement are expected to commence in the second half of 2010. Order estimates by Beneteau Group forecast up to $9 million in revenue to Valence Technology during the ensuing 12 months.

07:04

FRG Fronteer Development reports drilling further defines high-grade gold at Northumberland Deposit, Nevada (4.76 )

Co announces that a recent drill program, testing a new target concept, has further defined and extended high-grade gold mineralization at the company's 100% owned Northumberland deposit in Nevada. The results clearly demonstrate the presence of high-grade gold domains at Northumberland. These zones are important in understanding the deposit's grade continuity and amenability to either open-pit or underground mining methods. Future drilling applying this proven target concept could result in the expansion of additional high-grade zones. Drilling at the first target has highlighted a large higher grade gold zone that is approximately 200 metres long by up to 200 metres in width, and starting within 150 metres of surface. Mineralization can be up to 30 metres in thickness and remains open to the northwest. Drilling reinforces initial results reported Dec. 9, 2009.

07:03

BIIB Biogen Idec and Swedish Orphan Biovitrum update hemophilia (56.23 )

Co and Swedish Orphan Biovitrum announce that they have restructured the collaboration agreement for the companies' recombinant Factor VIII Fc fusion protein in hemophilia A patients and the recombinant Factor IX Fc fusion protein in hemophilia B patients. Under the amended agreement, Biogen Idec will assume full development responsibilities and costs, as well as manufacturing rights for the rFVIIIFc and rFIXFc programs.

07:03

LL Lumber Liquidators reports EPS in-line, revs in-line; guides FY10 EPS in-line, revs above consensus (25.80 )

Reports Q4 (Dec) earnings of $0.25 per share, in-line with the First Call consensus of $0.25; revenues rose 17.7% year/year to $137.1 mln vs the $136.5 mln consensus. Co issues guidance for FY10, sees EPS of $1.10-1.20 vs. $1.16 consensus; sees FY10 revs of $620-645 vs. $628.72 mln consensus. Co also sees a comparable store net sales increase in the low to mid-single digits; the opening of a total of 36 to 40 new store locations; and positive free cash flow for the year.

07:02

REGN Regeneron Pharms reports VEGF trap-eye shows positive results in a Phase 2 study in patients with diabetic macular edema (30.46 )

The co and Bayer HealthCare AG today announced that VEGF Trap-Eye showed positive results in a Phase 2 study in patients with diabetic macular edema (DME). The primary endpoint of the study, a statistically significant improvement in visual acuity over 24 weeks compared to the standard of care in DME, macular laser therapy, was met. Visual acuity improvement was measured by the mean number of letters gained over the initial 24 weeks of the study. Patients in each of the four dosing groups receiving VEGF Trap-Eye achieved statistically significantly greater mean improvements in visual acuity (8.5 to 11.4 letters of vision gained) compared to patients receiving macular laser therapy (2.5 letters gained) at week 24 (p< 0.01 for each VEGF Trap-Eye group versus laser). VEGF Trap-Eye was generally well tolerated, and there were no drug-related serious adverse events.

07:02

SMSC SMSC announces acquisition of Kleer semiconductor (20.48 )

Co announced that it has acquired substantially all the assets and certain liabilities of Kleer Semiconductor Corporation, a designer of high quality, interoperable wireless audio technology addressing headphones and earphones, home audio/theater systems and speakers, portable audio/media players and automotive sound systems. Under terms of the asset purchase agreement, SMSC paid approximately $5.5 mln in cash and additional cash payments of up to $2.0 mln may occur upon achievement of certain performance goals. The acquisition closed on February 16, 2010.

07:02

ULBI Ultralife closes $35 mln revolving credit facility (4.17 )

Co has closed on a three-year $35 mln senior secured asset-based revolving credit facility, effective February 17, 2010, with RBS Business Capital ("RBS"), a division of Citizens Financial Group. This revolving credit facility replaces the company's $35 mln senior secured revolving credit facility with JPMorgan and Manufacturers and Traders Trust Company. The opening balance under the facility is $10 mln. Borrowings under the facility will bear interest based on LIBOR plus 450 basis points through the end of 2010 after which the basis point spread may vary depending on the company meeting certain financial criteria.

07:01

ABX Barrick Gold beats by $0.04, misses on revs (37.86 )

Reports Q4 (Dec) earnings of $0.61 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.57; revenues rose 12.6% year/year to $2.36 bln vs the $2.39 bln consensus. Q4 production was 1.90 million ounces at total cash costs of $474 per ounce or net cash costs of $321 per ounce. The Company expects 2010 gold production to increase to about 7.6-8.0 million ounces, net of the African Barrick Gold IPO, at lower total cash costs of $425-$455 per ounce or lower net cash costs of $345-$375 per ounce "We delivered the Buzwagi mine on time and on budget and with planned new low cost production from Cortez Hills starting in Q1, we expect higher production and lower cash costs in 2010. We moved Pascua-Lama into construction and significantly advanced Pueblo Viejo and both are progressing in line with expectations. All of these projects are anticipated to contribute significant low cost production for many years to come. We also grew the industry's largest reserves which are now 100% unhedged with the elimination of our Gold Hedges in the last quarter, ahead of the schedule we set for ourselves.

07:01

TAROF Taro Pharmaceutical Ind. announces planned discontinuation of manufacturing operations at its Irish Facility (10.32 )

Co announced that it will discontinue manufacturing operations at the sterile manufacturing facility of its Irish subsidiary, Taro Pharmaceuticals Ireland Limited, in Roscrea, Ireland ("Taro Ireland"). The discontinuance of manufacturing operations is scheduled to take place by the end of March 2010. Taro Ireland plans to continue to maintain the physical plant in good condition.

07:00

ICFI ICF International Awarded $4.9 Million Contract from United States Coast Guard (23.39 )

06:40

NXY Nexen misses by $0.01, beats on revs (22.11 )

Reports Q4 (Dec) earnings of CDN$0.49 per share, CDN$0.01 worse than the First Call consensus of CDN$0.50; revenues rose 22.0% year/year to CDN$1.55 bln vs the CDN$1.39 bln consensus. Marvin Romanow, Nexen's President and Chief Executive Officer, commented: "We had a strong fourth quarter which has set us up well for 2010,"... "At Long Lake steam volumes are at record levels and we are steaming more wells than ever before. On the exploration and appraisal front, our Appomattox and Knotty Head wells in the Gulf of Mexico are progressing well. And in the Horn River area, our winter drilling campaign is underway."

06:36

WCG WellCare Group beats by $0.03, reports revs in-line; guides FY10 EPS below consensus (32.12 )

Reports Q4 (Dec) earnings of $0.47 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.44; revenues rose 1.4% year/year to $1.62 bln vs the $1.61 bln consensus. Co issues downside guidance for FY10, sees EPS of $1.90-2.15, excluding non-recurring items, vs. $2.56 consensus. 2010 Premium revenue is expected to be between $5.25-5.40 bln vs $6.87 bln in 2009. The Medicaid segment MBR is anticipated to be lower in 2010 than the 2009 MBR. The 2010 Medicare segment MBR also is expected to decrease from the 2009 MBR, driven by the withdrawal from Medicare Advantage private fee-for-service plans. The adjusted administrative expense ratio is expected to increase YoY. Membership as of Dec 31, 2009, decreased to 2.3 mln compared with 2.5 mln members as of December 31, 2008. Medicaid segment membership increased 3.8% year-over-year to 1.3 million, driven by growth in several markets and the February 2009 addition of the Hawaii ABD program. Year-over-year, Medicare Advantage membership decreased 8.5%, principally as a result of the CMS marketing sanction. Medicare stand-alone PDP membership decreased 24.2% compared with Dec 31, 2008, due largely to 2009 bid results and, less significantly, the CMS sanction.

06:30

S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: +3.30.

06:30

Asian Markets

Nikkei...10335.69...+28.90...+0.30%. Hang Seng...20422.15...-111.90...-0.50%.

06:30

European Markets

FTSE...5307.78...+31.10...+0.60%. DAX...5668.77...+20.60...+0.40%.

06:16

On The Wires

Salem Communications (SALM) announces it has acquired HotAir.com... Cogo Group (COGO) announces it had secured design wins with Yulong Computer Telecommunication Scientific, wholly owned subsidiary of China Wireless Technologies Limited.

06:09

CFX Colfax beats by $0.02, beats on revs; guides FY10 EPS below consensus (11.88 )

Reports Q4 (Feb) earnings of $0.26 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.24; revenues fell 17.8% year/year to $131 mln vs the $128.4 mln consensus. Co issues downside guidance for FY10, sees EPS of $0.67-0.77, excluding non-recurring items, vs. $0.80 consensus. Co expects organic sales in FY10 to decline 5.0-9.0%.

06:09

ORB Orbital Sciences beats by $0.04, reports revs in-line; reaffirms FY10 EPS guidance, revs guidance (17.40 )

Reports Q4 (Dec) earnings of $0.16 per share, $0.04 better than the First Call consensus of $0.12; revenues fell 7.5% year/year to $282.3 mln vs the $282 mln consensus. Co reaffirms guidance for FY10, sees EPS of $0.70-0.80 vs. $0.75 consensus; sees FY10 revs of $1.175-1.225 bln vs. $1.2 bln consensus. "Having built up strong business momentum in 2009, Orbital looks forward to a year of substantial revenue growth together with profit margin expansion and earnings improvement in 2010. We also expect the year ahead to present more than the usual number of opportunities and challenges as we pursue new growth avenues in several of our core markets and close in on the first launches of our new Taurus II rocket and Cygnus spacecraft planned for 2011."

06:06

DVAX Dynavax Technologies and GlaxoSmithKline select clinical candidate in the endosomal TLR inhibitor program (1.50 )

Co announces the selection of a candidate for clinical development in its endosomal Toll-like Receptor inhibitor collaboration with GlaxoSmithKline (GSK). The selected molecule DV1179, a bifunctional TLR inhibitor, has moved into advanced preclinical IND-enabling studies that could allow clinical development to begin as early as this year. Dynavax and GlaxoSmithKline are collaborating to develop novel inhibitors of endosomal TLRs for the treatment of multiple autoimmune and inflammatory diseases. TLRs are key receptors of the innate immune system.

04:41

DAI Daimler AG reports group EBIT of EUR -1.5 bln for 2009; positive EBIT of more than EUR 2.3 bln expected for FY10 (45.06 )

Co presents preliminary and unaudited results of the Group and its divisions for FY09. EBIT from ongoing business increased again to EUR 0.6 billion in 4Q09, resulting in full-year EBIT of EUR -1,513 million (2008: EUR 2,730 million). The Group's net loss was EUR 2,644 million (2008: EUR 1,414 million). EPS amounted to EUR -2.63 (2008: EUR 1.41). Due to the net loss, the Board of Management recommends to the Supervisory Board that no dividend should be distributed for the year 2009. Following a significant decrease in 2009, the Daimler Group assumes that its revenue will rise in FY10, but will still be significantly lower than in 2008. The growth will probably be driven by all the automotive divisions. Daimler expects to post Group EBIT of more than EUR 2.3 bln from its ongoing business. This will be the result of the market success of new products, a moderate upward development of the most important markets, and intensified efforts to increase efficiency.

03:28

VDSI VASCO Data Security beats by $0.08, beats on revs; guides FY10 revs above consensus (8.73 )

Reports Q4 (Dec) earnings of $0.15 per share, $0.08 better than the First Call consensus of $0.07; revenues rose 10.4% year/year to $31.9 mln vs the $26.8 mln consensus. Co issues upside guidance for FY10, sees FY10 revenue growth of 10.0-15.0 % over 2009 levels (translates into approx $116.95-122.0 mln vs. $110.02 mln consensus). Co estmates operating margins for FY10 of 5.0-10.0%.

02:06

VR Validus Holdings increases annual dividend 10% to $0.88/share from $0.80/share (26.57 )

01:53

KGC Kinross Gold beats by $0.05, beats on revs (18.50 )

Reports Q4 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.16; revenues rose 44.4% year/year to $699 mln vs the $662.8 mln consensus. Production in 4Q09 was 613,858 gold equivalent ounces, an increase of 12% over the same period last year. For FY09, gold equivalent production was 2,238,665 ounces, in line with previously-announced guidance, and a 22% increase over 2008. As stated in the guidance news release from January 14, 2010, Kinross expects to produce approx 2.2 mln gold equivalent ounces in 2010, as previously estimated. Cost of sales per gold equivalent ounce is expected to be approximately $460-$490 for FY10. On a by-product accounting basis, Kinross expects to produce approx 2.0 mln ounces of gold and 10.0 mln ounces of silver at an average cost of sales per gold ounce of $420-$450.

01:46

ENSG Ensign Group reports in-line EPS, beats on revenue, issues in-line FY10 EPS and revenue guidance (17.35 )

Reports Q4 (Dec) earnings of $0.43 per share, excluding non-recurring items, in-line with the First Call consensus of $0.43; revenues increased 18.3% year/year to $146.62 mln vs 144.94 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.75-1.79 vs $1.77 consensus. Co sees FY10 revenue of $605.0-615.0 mln vs $611.34 mln consensus.

01:36

On The Wires

ICO Global Communications (ICOG) announces Benjamin G. Wolff has been appointed CEO; co also appoints Timothy Leybold as senior vice president and CFO... Arch Chemicals (ARJ) announces that it has signed a definitive agreement to sell its Industrial Coatings business to Sherwin-Williams (SHW) for approx 40 mln euros ($54 mln) in cash... AMRI (AMRI) announces the acquisition of Excelsyn Ltd., a provider of chemical development and manufacturing services to the pharmaceutical industry in Europe; under the terms of the agreement, AMRI has purchased all of the outstanding shares of Excelsyn for approx $19 mln in cash.

01:34

XNPT XenoPort and GlaxoSmithKline receive FDA Complete Response Letter for Horizant for RLS (19.60 )

GlaxoSmithKline (GSK) and co receive a Complete Response letter from the FDA regarding the New Drug Application for Horizant Extended-Release Tablets, an investigational non-dopaminergic treatment for moderate-to-severe primary Restless Legs Syndrome. GSK and XenoPort are currently evaluating the Complete Response letter, in which the FDA indicated that a preclinical finding of pancreatic acinar cell tumors in rats was of sufficient concern to preclude approval of Horizant for RLS at this time. FDA acknowledged that similar findings were known for gabapentin at the time of its approval for refractory epilepsy, but concluded that the seriousness and severity of refractory epilepsy justified the potential risks. The companies are assessing the appropriate next steps and will be communicating with FDA.

01:32

GRT Glimcher Realty Trust reports in-line FFO, reports revenue in-line; issues in-line guidance for Q110 and downside guidance for FY10 (3.82 )

Reports Q4 (Dec) fund from operations of $0.31, excluding items, in-line with First Call consensus of $0.31; revenues declined 3.0% year/year to $79.6 mln vs $79.4 mln single-analyst consensus. Co issues in-line guidance for 1Q10, sees FFO of $0.18-0.21 vs $0.21 consensus. Co issues downside guidance for FY10, sees FFO of $0.76-0.82 vs $0.86 consensus.

01:23

APC Anadarko announces first deepwater discovery offshore Mozambique (68.81 )

Co announces the Windjammer exploration well in the frontier Rovuma Basin offshore Mozambique has reached an intermediate casing point and encountered more than 480 net feet of natural gas pay in high-quality reservoir sands, with a gross column of more than 1,200 feet. To date, this well has tested one of the seven identified play types in Anadarko's operated acreage offshore Mozambique.

18:47

PEP PepsiCo refiles Hart-Scott-Rodino premerger notification (62.11 +0.80)

Co announced in connection with its proposed acquisitions of The Pepsi Bottling Group (PBG) and PepsiAmericas. (PAS) that it signed a consent decree proposed by the Staff of the Federal Trade Commission (FTC) providing for the maintenance of the confidentiality of certain information it will obtain from Dr. Pepper Snapple Group, Inc. (DPS) in connection with the manufacture and distribution of certain DPS products after the acquisitions are completed. That consent decree is subject to review and approval by the Commissioners of the FTC. As a result of the foregoing, PepsiCo today refiled its notification report under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the acquisitions and has requested early termination of the waiting period.

18:47

ORLY O'Reilly Auto beats by $0.01, misses on revs; guides Q1 EPS in-line; guides FY10 EPS below consensus (40.79 +0.94)

Reports Q4 (Dec) earnings of $0.52 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.51; revenues rose 5.3% year/year to $1.17 bln vs the $1.19 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.56-0.60 vs. $0.59 consensus. Co issues downside guidance for FY10, sees EPS of 2.50-2.56 vs. $2.61 consensus. The Company estimates consolidated comparable store sales for the first quarter of 2010 to range from 2.0% to 4.0%. The Company estimates consolidated comparable store sales for the year ended December 31, 2010, to range from 3.0% to 5.0%

18:05

OTT Otelco beats by $0.04 (15.21 +0.31)

Reports Q4 (Dec) ($0.02), $0.04 better than the First Call dual-analyst est of ($0.06); revenues rose 11.6% year/year to $26.1 mln vs the $26.1 mln consensus.

18:00

KEG Key Energy beats by $0.02, beats on revs (10.09 +0.04)

Reports Q4 (Dec) loss of $0.11 per share, $0.02 better than the First Call consensus of ($0.13); revenues fell 44.0% year/year to $267.5 mln vs the $242.1 mln consensus. Co said, "We experienced a turning point in activity during Q4 that continues through today. As of last week, the Baker Hughes U.S. land based rig count was up 31% from where we began Q4. Although the oil directed rig count is up 46% within this timeframe, our larger customers have just recently become more active. In addition to an improving oil market, industry-wide activity in the U.S. gas market has increased 25% since the beginning of Q4. We believe Key is well positioned to take advantage of the overall increase in U.S. market activity, and based on expectations of increased customer spending in 2010, we are projecting our U.S. based revenue to increase approximately 15% to 20% from 2009. We believe international revenue will increase 50-60% with the addition of our Russian business, improving market conditions in Argentina and expected higher activity in Mexico. Finally, I would like to thank our employees and acknowledge them for their initiative and commitment through a difficult market during 2009 in finding ways to make Key a more efficient co."

17:56

PETD Petroleum Development reported 2009 key operating results which were in line with the co's prior estimates; co expects its 2010 production to be ~35.7 Bcfe, an 18% reduction from 2009 production of 43.3 Bcfe (22.18 +0.45)

Co reports the year-ended December 31, 2009 year-over-year total production growth was 12%, or 43.3 Bcfe versus 38.7 Bcfe in 2008. During 2009, the Company drilled 100 gross wells compared to 379 gross wells drilled in 2008. 2009 production growth was 100% organic from development of existing core operating areas. The co's 2009 operating focus was primarily in the DJ Basin / Wattenberg Field where PDC drilled 82 of its 100 wells. The decrease in drilling activity for 2009 was in response to the decline in natural gas prices and a corporate decision to preserve liquidity. For the year ending 2009, PDC achieved significant cost reductions in capital expenditures (CAPEX) and lifting costs in each of the co's operating basins. 2009 CAPEX/well and lifting costs/Mcfe declined ~25% and 22%, respectively, versus 2008 levels. Total proved reserves as of December 31, 2009 were 717 Bcfe compared to 753 Bcfe of total proved reserves reported at the end of 2008. Reserve values in 2009 were based on an average natural gas price of $3.17/Mcf and an average oil price of $54.64/Bbl, versus an average natural gas price of $4.98/Mcf and an average oil price of $37.85/Bbl in 2008. Using year-end spot pricing methodology, as was used at year-end 2008, reserve values would have been calculated at $5.51/Mcf for natural gas and $72.91/Bbl for oil on December 31, 2009, and reported reserves would have been 811 Bcfe. At year-end 2009, natural gas represents ~85% of proved reserves and the remaining 15% is oil. Additionally, 41.2% of the proved reserve total is developed and 58.8% is undeveloped. The co expects its 2010 production to be ~35.7 Bcfe, an 18% reduction from 2009 production of 43.3 Bcfe. Approximately 7% of the year-over-year production decline is related to the loss of Shallow Devonian production in the Appalachian Basin which was contributed to the JV. The remainder of the production decline results from the 70% reduction in CAPEX in 2009 versus 2008. PDC expects its 2010 exit rate to ~its 2009 exit rate of 107/MMcfe per day.

17:48

XJT ExpressJet signs agreement with United (33.24 +0.16)

XJT, parent company of regional and charter airline operator, ExpressJet Airlines, announced that it signed an agreement with United Airlines covering 22 ERJ-145 aircraft for United Express service effective December 1, 2009. This signed agreement finalizes the previously announced successful bid by ExpressJet to replace flying done by other United Express partner carriers whose contracts have expired. An additional 10 ERJ-145 aircraft, sourced from our Corporate Aviation (charter) fleet, were added through an amendment to the agreement and will begin operating for United Express on May 1, 2010.

17:38

NHP Nationwide Health misses by $0.01, beats on revs; guides FY10 FFO below consensus (33.24 +0.16)

Reports Q4 (Dec) funds from operations of $0.53 per share, $0.01 worse than the First Call consensus of $0.54; revenues rose 2.8% year/year to $98.6 mln vs the $94.3 mln consensus. Co issues downside guidance for FY10, sees FFO of $2.05-2.09 vs. $2.27 consensus.

17:29

CITP Comsys IT Partners beats by $0.01, reports revs in-line (17.50 -0.03)

Reports Q4 (Dec) earnings of $0.28 per share, $0.01 better than the First Call consensus of $0.27; revenues rose 9.7% year/year to $172.5 mln vs the $173 mln consensus. Note: As announced on February 1, 2010, CITP and Manpower (MAN) entered into an Agreement and Plan of Merger under which, subject to the terms and conditions thereof, a wholly-owned subsidiary of MAN will offer to acquire all outstanding shares of COMSYS common stock in exchange for cash or Manpower common stock valued at $17.65 per CITP share

17:10

IBNK Integra Bank and The Cecilian Bank announce agreement for purchase of branches and loans from Integra (0.67 +0.01)

Co announced that The Cecilian Bank ("Cecilian"), the wholly-owned subsidiary of First Cecilian Bancorp, has agreed to purchase two banking offices of Integra Bank Corporation's wholly-owned bank subsidiary, Integra Bank N.A. ("Integra"). The offices are located in Hardinsburg and Leitchfield, Kentucky. In addition, Cecilian has agreed to acquire a pool of commercial real estate loans from Integra. Cecilian will assume approximately $45 mln of deposit liabilities related to the two branches and acquire $15 mln of branch loans and $27 mln of additional commercial real estate loans selected by Cecilian that were originated in other Integra offices.

17:08

LH Laboratory Corp announces new holder of the noncontrolling interest in the company's Ontario, Canada Joint Venture (73.15 +0.72)

Co announced that on February 8, 2010 it completed a transaction to acquire the partnership units from the holder of the noncontrolling interest in the Ontario, Canada joint venture. The purchase price of the noncontrolling interest's units was CN $147.8 million. On February 17, 2010, co completed a transaction to sell the units acquired from the previous noncontrolling interest holder to a new Canadian partner for the same price. Upon the completion of these two transactions, the Company's financial ownership percentage in the joint venture partnership remained unchanged at 85.6%. Concurrent with the sale to the new partner, the partnership agreement for the Ontario Canada joint venture was amended and restated with substantially the same terms as the previous agreement.

17:06

CYBX Cyberonics canceled existing share repurchase program and approved a new program for the repurchase of up to 1.0 mln shares (18.80 +0.12) -Update-

17:06

AVA Avista shifts timing for acquisition of renewable resources (20.36 +0.28)

Co decided to postpone acquisition of additional renewable resources that were sought in a recent request for proposals, including development of the Reardan Wind Project, until the 2014-2015 timeframe.

17:05

FRT Federal Realty Invst Trust annouces Federal Realty Invst Trust Dawn Becker was promoted to Chief Operating Officer (67.13 +0.91) -Update-

Co reports that Becker has 13 years experience with Federal Realty beginning in 1997 when she was hired to provide deal structuring and legal guidance to support the Trust's acquisition efforts.

17:05

UIS Unisys: West Australian Public Trustee awards Unisys five-year contract to support modernised client management system (35.51 -0.25)

Co announced that its Australian subsidiary has been awarded a five-year contract by the West Australian Public Trustee to provide support and enhancements for their Management Accounting Trust Environment (MATE) application. The contract for an initial three-year period, with the option of two one-year extensions, commenced December 2009 and was awarded following a competitive bid process. It builds on an eight year-relationship during which Unisys has built, supported and modernised the core Public Trustee application that underpins the organisation.

17:03

OII Oceaneering Intl beats by $0.02, misses on revs; guides Q1 EPS below consensus; guides FY10 EPS in-line (55.80 -0.13)

Reports Q4 (Dec) earnings of $0.83 per share, $0.02 better than the First Call consensus of $0.81; revenues fell 14.0% year/year to $452.3 mln vs the $462.1 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.65-$0.75 vs. $0.76 consensus. Co issues in-line guidance for FY10, sees EPS of $3.25-$3.55 vs. $3.48 consensus. Co states, "For 2010 we anticipate generating in excess of $300 million of cash flow, simply defined as net income plus depreciation and amortization. This projected cash flow will provide ample resources to invest in Oceaneering's growth... Looking longer term, our belief that the oil and gas industry will continue to invest in deepwater to counteract high existing reservoir depletion rates remains unchanged. Deepwater is one of the best frontiers for adding large hydrocarbon reserves with high production flow rates at relatively low per barrel finding and development costs. Therefore, we anticipate demand for our deepwater services and products will remain promising..."

17:02

FRT Federal Realty Invst Trust beats by $0.01, beats on revs; guides FY10 FFO in-line (67.13 +0.91)

Reports Q4 (Dec) funds from operations of $0.90 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.89; revenues rose 3.8% year/year to $138.6 mln vs the $131.2 mln consensus. Co issues in-line guidance for FY10, sees FFO of $3.80-3.88 vs. $3.84 consensus.

17:02

VTAL Vital Images beats by $0.03, beats on revs (14.45 +0.07)

Reports Q4 (Dec) loss of $0.04 per share, $0.03 better than the First Call consensus of ($0.07); revenues fell 9.2% year/year to $15.8 mln vs the $14.6 mln consensus.

17:02

CYBX Cyberonics beats by $0.04, reports revs in-line; guides FY10 revs in-line (18.80 +0.12)

Reports Q3 (Jan) earnings of $0.29 per share, $0.04 better than the First Call consensus of $0.25; revenues rose 15.6% year/year to $40.8 mln vs the $40.6 mln consensus. Co issues in-line guidance for FY10, sees FY10 revs of $162-164 mln vs. $163.84 mln consensus. "To reiterate the medium term goals outlined at our investor day in December, we are targeting net sales growth of 15%, and a faster rate of growth for net income, goals that were again met in the recently completed quarter. We remain focused on achieving an operating margin of 25% by fiscal 2011."

16:53

KRG Kite Realty reports EPS in-line, revs in-line; guides FY10 FFO in-line (3.89 +0.00)

Reports Q4 (Dec) funds from operations of $0.12 per share, in-line with the First Call consensus of $0.12; revenues fell 29.7% year/year to $29.3 mln vs the $29.5 mln consensus. Co issues in-line guidance for FY10, sees FFO of $0.42-0.47 vs. $0.47 consensus, assuming leased percentage ranging from 90% to 92% at December 31, 2010 and a decrease in same property net operating income ranging from 0.0% to 2.0%. The owned gross leasable area in the co's retail operating portfolio was 90.1% leased as of December 31, 2009, compared to 90.8% leased as of the end of the prior quarter. This decrease is primarily attributable to a lease expiration of a junior anchor tenant at a center in Texas. On a same property basis, the leased percentage of 54 total operating properties was 90.5% at December 31, 2009 and 91.9% at December 31, 2008. Same property net operating income for these properties decreased 3.0% in the fourth quarter and decreased 2.7% for the full year 2009 compared to the same periods in 2008.

16:51

TLCR Talecris Biotherapeutics receives Health Canada approval for PROLASTIN-C (22.89 +0.15)

Co announces that it has received approval from Health Canada for PROLASTIN-C, a more purified and concentrated version of PROLASTIN produced using advances in manufacturing technology. A similar approval for PROLASTIN-C was granted by the U.S. Food and Drug Administration on Oct. 17, 2009. Like PROLASTIN, PROLASTIN-C is indicated for the treatment of panacinar emphysema in patients with alpha1-antitrypsin deficiency. AAT deficiency is a genetic condition in which low levels of the alpha1 protein can result in emphysema.

16:48

NSC Norfolk Southern's Crescent Corridor is awarded $105 mln TIGER grant from U.S. Department of Transportation (49.26 -0.63)

Co announces that its Crescent Corridor Intermodal Freight Program of Projects today was awarded $105 mln from the U.S. Department of Transportation under the American Recovery and Reinvestment Act of 2009, Transportation Investment Generating Economic Recovery (TIGER) Program. In Sept. 2009, lead state Pennsylvania, joined by Alabama, Mississippi, Tennessee, and Virginia, submitted an application to USDOT for a $300 mln TIGER grant to help improve Norfolk Southern's rail lines and facilities between the Gulf Coast and the Northeast. Although the award represents a shortfall from the original TIGER request, it will enable NSC and its partners to begin construction of several previously announced Crescent Corridor projects, while delaying other elements for later public-private partnerships.

16:37

CYH Community Health beats by $0.01, reports revs in-line; guides Q1 EPS in-line; raises bottom end of FY10 EPS in-line, raises bottom end revs in-line (34.78 +0.11)

Reports Q4 (Dec) earnings of $0.70 per share, $0.01 better than the First Call consensus of $0.69; revenues rose 11.1% year/year to $3.09 bln vs the $3.08 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.70-0.76 vs. $0.74 consensus. Co raises bottom end of FY10 EPS guidance, sees EPS of $2.85-3.00 vs. $2.94 consensus, up from $2.80-3.00; raises bottom end of FY10 revs guidance to $12.9-13.2 bln vs. $12.96 bln consensus, up from $12.8-13.2 bln.

16:30

OIIM O2Micro issued patent for voltage reference circuit (5.77 -0.11)

16:30

HOKU HOKU Scientific resumes engineering & procurement work on polysilicon plant with Shaw subsidiary (2.22 -0.04)

The co announces that it entered into a change order agreement under its engineering and procurement contract with Stone & Webster to resume work on Hoku's planned polysilicon production plant in Pocatello, Idaho. Stone & Webster is a subsidiary of The Shaw Group (SHAW). Hoku suspended all work under the contract in July 2009. The change order agreement to resume work is based on Hoku's anticipated receipt of the second tranche of $30 million in loan proceeds from Tianwei New Energy Holdings in February 2010. Tianwei, a provider of silicon wafers, photovoltaic cells, and modules, which recently became Hoku's majority shareholder, is providing funds towards the completion of construction and development of the plant. Based on the new funding and the signing of the change order, Stone & Webster has agreed to immediately resume work on certain critical path items to enable the expeditious start-up of the plant.

16:30

SOLR GT Solar and Jiangxi announces new order totalling $20 mln (5.75 -0.12)

Co industry, and Jiangxi Sornid Hi-Tech Co., Ltd. today jointly announced that they signed a new contract totaling more than $20 million for GT Solar's market-leading GT-DSS450(TM) ingot growth furnaces and ancillary equipment and services. The order was booked in GT Solar's current fourth fiscal quarter and revenue is expected to be recognized in subsequent periods. "We are seeing an increase in bookings for our GT-DSS450 furnaces in China as customers begin to add new production capacity to position themselves for the next phase of growth in the worldwide solar industry," said Tom Gutierrez, GT Solar's president and chief executive officer.

16:29

NVDA NVIDIA beats by $0.03, beats on revs; guides Q1 revs above consensus (17.84 +0.17)

Reports Q4 (Jan) earnings of $0.23 per share, $0.03 better than the First Call consensus of $0.20; revenues rose 104.2% year/year to $982.5 mln vs the $957.2 mln consensus. NVDA reports Q4 gross margins of 44.7% vs 41.7% consensus. Co issues upside guidance for Q1, sees Q1 revs flat vs. Q4, or $982.5 mln vs. $931.19 mln consensus. NVIDIA sees Q1 GAAP gross margin of 44-45%, may not compare to the non-GAAP gross margin consensus of 41.4%. Co states, "While the yield of chips made using the latest 40nm process has improved significantly, demand continues to exceed our constrained supply. Looking ahead this year, we are excited to raise the bar again with our next-generation Fermi GPU architecture; our Tegra mobile processor will enable a new class of amazing mobile devices like tablets; and our 3D Vision glasses and accompanying technology will bring a whole new dimension to personal computing."

16:26

HMPR Hampton Roads Bankshares defers dividends on TARP preferred stock (2.07 +0.01)

The co announces that it has notified the United States Department of the Treasury of its intent to defer the payment of its regular quarterly cash dividend on its Fixed Rate Cumulative Perpetual Preferred Stock, Series C, issued to the Treasury in connection with the Company's participation in the Treasury's TARP Capital Purchase Program. Under the terms of the TARP Preferred Stock, the Company is required to pay on a quarterly basis a dividend rate of 5% per year for the first five years, after which the dividend rate automatically increases to 9% per year. Dividend payments may be deferred, but the dividend is a cumulative dividend and failure to pay dividends for six dividend periods would trigger board appointment rights for the holder of the TARP Preferred Stock.

16:25

LGCY Legacy Reserves announces closing of acquisition in Wyoming from St. Mary Land & Exploration Company (20.68 +0.08)

Co announced it has closed the acquisition of thirteen operated oil fields in Wyoming from St. Mary Land & Exploration Company. The acquisition was previously announced on December 18, 2009. The purchase price of the acquisition after closing adjustments was $118.7 mln, in addition to the $6.5 mln deposit previously paid. As previously announced on December 21, 2009, Legacy entered into commodity swaps associated with the Wyoming acquisition over the period of 2010-2014. The acquisition was funded with advances from Legacy's revolving credit facility which currently has a $340 mln borrowing base.

16:23

AAP Advance Auto misses by $0.07, reports revs in-line; guides FY10 EPS in-line; raises share buyback program by 100% to $500 mln (42.88 +0.25)

Reports Q4 (Dec) earnings of $0.39 per share, excluding $0.03 in divestiture charges, $0.07 worse than the First Call consensus of $0.46; revenues fell 4.0% year/year to $1.14 bln vs the $1.15 bln consensus. Co issues in-line guidance for FY10, sees EPS of $3.20-3.40 vs. $3.29 consensus, with a low to approaching mid single digit increase in comps, and a 150 new stores. Co also doubled its share buyback authorization to $500 mln. During the fourth quarter, the co repurchased approximately 1.2 million shares of its common stock at an aggregate cost of $50.0 million, or an average price of $40.24 per share.. On a comparable basis, total sales for the fourth quarter increased 3.6% to $1.14 billion, compared with total sales of $1.10 billion in the fourth quarter of fiscal year 2008. The sales increase reflected the net addition of 52 new stores during the past 12 months and a comparable store sales gain of 2.4% compared to a 3.0% gain during the fourth quarter of fiscal 2008. The 2.4% comparable store sales gain was comprised of a 9.5% increase in Commercial sales, partially offset by a 0.8% decrease in do-it-yourself (DIY) sales. After adjusting for the calendar shift due to the 53rd week in fiscal 2008, fourth quarter comparable store sales increased approximately 3.1%. The co's comparable gross profit rate was 47.9% of sales during the fourth quarter as compared to 47.2% in the prior year which reflects a 78 basis-point improvement. The 78 basis-point improvement was primarily due to continued investments in pricing and merchandising capabilities, increased parts availability and improved store execution, partially offset by the impact of the anniversary of shrink benefits reported during the fourth quarter last year.

16:21

AEM Agnico-Eagle Mines beats by $0.07, misses on revs; Co reports record quarterly and annual revenue and gold production (59.08 -0.70)

Reports Q4 (Dec) earnings of $0.32 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.25; revenues rose 537.4% year/year to $232 mln vs the $243.7 mln consensus. Payable gold production in Q4 of 2009 was a record 163,276 ounces at total cash costs per ounce of $297. This compares with payable gold production of 89,360 ounces at total cash costs per ounce of $463 in Q4 of 2008. The decrease in total cash costs per ounce in Q4 of 2009 is mainly due to higher gold production and significantly higher realized prices for zinc and copper. Co said, "Earnings and cash flow increased significantly this quarter on the back of record quarterly gold production as five mines are now contributing to the co's gold production base. In addition, with the start of our new Meadowbank mine this quarter, and our record gold reserve base, we are well positioned to continue to increase our gold production and grow earnings and cash flow per share."

16:21

PVFC PVF Capital Corporation announces the terms of a $30 mln stock offering consisting of a $25.7 mln rights offering and a $4.3 mln offering to a standby purchaser (2.91 +0.01)

Co announces the terms of a $30 mln stock offering consisting of a $25.7 mln rights offering and a $4.3 mln offering to a standby purchaser. Under the terms of the rights offering, all record holders of the Company's common stock as of 5:00 p.m., Eastern Time, on January 27, 2010, the record date for the rights offering, will receive, at no charge, one subscription right for each share of common stock held as of the record date. Each subscription right will entitle the holder of the right to purchase 1.8431 shares of Company common stock at a subscription price of $1.75 per share. The rights offering will commence as soon as practicable and will expire on March 22, 2010.

16:19

CAR Avis Budget beats by $0.03, misses on revs (13.31 +0.49)

Reports Q4 (Dec) loss of $0.25 per share, $0.03 better than the First Call consensus of ($0.28); revenues fell 8.0% year/year to $1.16 bln vs the $1.18 bln single analyst est. While demand for vehicle rentals appears to have stabilized, the co expects the macroeconomic climate will remain challenging and rental volumes in the first quarter will again be lower than in the comparable prior-year period. Based on rental and reservation activity to date, the co expects YoY pricing comparisons will continue to be positive in Q1. Furthermore, the co expects rental volumes to improve sequentially over the course of 2010. The co also expects to keep the size of its rental fleet in line with rental demand, as it did throughout 2009. They estimate that their domestic fleet costs will decline 4-6% in 2010 on a per-unit basis, which they project will offset higher interest costs and other inflationary cost increases.

16:18

SNPS Synopsys beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs above consensus; guides FY10 EPS in-line, revs in-line (22.10 +0.89)

Reports Q1 (Jan) earnings of $0.41 per share, $0.02 better than the First Call consensus of $0.39; revenues fell 2.8% year/year to $330.2 mln vs the $328.8 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.38-$0.40 vs. $0.38 consensus; sees Q2 revs of $331-$339 mln vs. $328.92 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.52-$1.62 vs. $1.55 consensus; sees FY10 revs of $1.33-$1.35 bln vs. $1.34 bln consensus. Revenue from backlog is expected to be greater than 90%. Co sees FY10 cash flow from operations of $200-$220 mln.

16:18

AEA Advance America Cash beats by $0.14, beats on revs (5.27 +0.47)

Reports Q4 (Dec) earnings of $0.32 per share, $0.14 better than the First Call consensus of $0.18; revenues fell 1.0% year/year to $173.2 mln vs the $170.1 mln consensus. For the quarter ended December 31, 2009, the provision for doubtful accounts as a percentage of total revenues was 18.3%, compared to 24.4% for the same period in 2008.

16:17

NCIT NCI beats by $0.07, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY10 EPS in-line, revs above consensus (28.00 +0.95)

Reports Q4 (Dec) earnings of $0.49 per share, $0.07 better than the First Call consensus of $0.42; revenues rose 23.2% year/year to $125.2 mln vs the $125.2 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.37 to $0.39 vs. $0.41 consensus; sees Q1 revs of $115 mln to $120 mln vs. $123.03 mln consensus. Co issues guidance for FY10, sees EPS of $1.74 to $1.82 vs. $1.78 consensus; sees FY10 revs of $530 mln to $550 mln vs. $528.67 mln consensus. NCI reported total backlog at the end of 2009 of $1,501 million, of which $250 million was funded backlog. This compares to total backlog of $1,189 million at the end of 2008, which included $234 million in funded backlog.

16:17

NHWK Nighthawk Radiology reports EPS in-line, misses on revs; guides Q1 below consensus (4.20 +0.06)

Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, in-line with the First Call consensus of $0.09; revenues fell 4.5% year/year to $37.9 mln vs the $39.3 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.04-0.06, excluding non-recurring items, vs. $0.12 consensus; sees Q1 revs of $35.5-37.5 mln vs. $39.5 mln consensus.

16:17

PCLN Priceline.com beats by $0.31, beats on revs; guides Q1 EPS above consensus, revs in-line (212.87 +1.66)

Reports Q4 (Dec) earnings of $1.99 per share, $0.31 better than the First Call consensus of $1.68; revenues rose 33.4% year/year to $541.8 mln vs the $529.8 mln consensus. Co issues mixed guidance for Q1, sees EPS of $1.57-1.64, excluding non-recurring items, vs. $1.41 consensus; sees Q1 rev growth of 23-27% y/y (approx $568-586 mln) vs. $584.78 mln consensus. Year-over-year increase in total gross travel bookings of approximately 42% - 48%. Year-over-year increase in international gross travel bookings of approximately 65% - 73% (an increase of approximately 56% - 64% on a local currency basis). Year-over-year increase in domestic gross travel bookings of approximately 10% - 15%.

16:16

VRUS Pharmasset announces complete enrollment of RG7128 Phase 2b clinical study (22.97 +0.17)

The co announces the complete enrollment by Roche of the 12 week RG7128 Phase 2b study (PROPEL) of approximately 400 treatment-naive patients with hepatitis C virus (HCV) genotypes 1 and 4. The study remains blinded to Roche and Pharmasset. Roche has initiated a 24 week Phase 2b study with RG7128 in combination with pegylated interferon and ribavirin in treatment-na?ve patients with HCV genotypes 1 and 4 in order to evaluate the safety and efficacy of RG7128 in combination with standard of care for longer durations. The data from this study could provide the flexibility for combining RG7128 with direct acting antivirals currently in development with varying durations of therapy. This study is currently enrolling at sites in the US and Canada and is expected to complete enrollment in the second quarter. In addition, Roche is planning to initiate a Phase 2b study of RG7128 in combination with pegylated interferon and ribavirin in patients with HCV genotypes 2 and 3 later in 2010... Roche has also announced that it will not conduct the previously planned 28 day INFORM-2 study, designed to evaluate the combination of RG7128 with RG7227, InterMune's (ITMN) HCV protease inhibitor, with and without pegylated interferon and ribavirin.

16:15

MCGC MCG Capital announces liquidity renewal for warehouse credit facility (4.79 +0.02)

Co announced today that SunTrust Bank has provided the annual renewal of its liquidity facility that supports MCG's committed secured warehouse credit facility. This warehouse financing facility is funded through Three Pillars Funding LLC, an asset-backed commercial paper conduit administered by SunTrust Robinson Humphrey, Inc., and is primarily secured by the assets of MCG Commercial Loan Funding Trust. MCG and SunTrust Robinson Humphrey, Inc. agreed to a number of modifications to the Three Pillars Warehouse terms, including a reduction of the facility borrowing commitment to $150 mln from the most recent facility borrowing commitment of $157 mln and an increase in the limitation on the total outstanding balance of fixed-rate loans for the facility from 40% to 55%. The legal final maturity date of this facility is August 2012, subject to contractual terms and conditions. If a new agreement or extension is not executed by February 2011, the Three Pillars Warehouse enters an 18-month amortization period during which principal under the facility is paid down through orderly monetizations of portfolio company assets that are financed in the facility. The interest rate on the Three Pillars Warehouse remains unchanged at the commercial paper rate plus 2.50%. Outstanding borrowings on the Three Pillars Warehouse were approximately $145.6 mln as of February 15, 2010. MCG paid to SunTrust Robinson Humphrey, Inc. a facility renewal fee of $1.5 mln, or 1.00%.

16:14

AMAT Applied Materials reports EPS in-line, beats on revs; guides Q2 EPS and revs above consensus; guides FY10 revs above consensus (12.99 +0.04)

Reports Q1 (Jan) earnings of $0.13 per share, in-line with the First Call consensus of $0.13; revenues rose 39.1% year/year to $1.85 bln vs the $1.75 bln consensus. AMAT reports Q1 gross margins of 38.5% vs 38.4% consensus. Co issues upside guidance for Q2, sees EPS of $0.17-0.22 vs. $0.15 consensus; sees Q2 revs up 15-25, or roughly $2.13-2.31 vs. $1.78 bln consensus. Co issues upside guidance for FY10, sees FY10 revs up greater than 50%, which calculates out to greater than $7.52 bln, vs. $7.33 bln consensus -- this is up from prior outlook of more than 30% rev growth. "Applied posted solid first quarter results led by robust sales in our semiconductor equipment business... With global demand improving in our customers' end markets, we are raising our full-year revenue target to reflect higher anticipated demand in our semiconductor, LCD display and crystalline silicon solar businesses... Applied enters its second quarter with considerable momentum, and we are off to an excellent start for the year."

16:14

TRN Trinity Industries beats by $0.07, misses on revs; guides Q1 EPS below consensus; guides FY10 EPS in-line (17.40 +0.19)

Reports Q4 (Dec) earnings of $0.19 per share, $0.07 better than the First Call consensus of $0.12; revenues fell 42.5% year/year to $508.2 mln vs the $620.2 mln consensus. Co issues downside guidance for Q1, sees EPS of ~$0.00 vs. $0.08 consensus. Co issues in-line guidance for FY10, sees EPS of $0.35-0.55 vs. $0.49 consensus.

16:13

KBR KBR Inc. Awarded Contract by Matix Fertilizers and Chemicals Ltd. to Provide Licensing of KBR Purifier(TM) Ammonia Technology (19.83 )

Co announced that it has been awarded a contract by Matix Fertilisers and Chemicals Limited (MFCL) - a Matix Group co owned by Kanoria family in India - to provide licensing and engineering services for its grassroots 2,200 metric tons per day (MTPD) ammonia plant located in West Bengal, India. MFCL is setting up the largest ammonia/urea (1.3 mln tons per annum) manufacturing facilities in the country, along with Captive Power Plant, utilities, infrastructure and railway siding in the complex. KBR will license its Purifier Ammonia technology for the Matix plant, which will be based on coal bed methane. The use of coal bed methane as feedstock in the ammonia synthesis process is a relatively new application that provides an alternative to the use of natural gas in areas where coal is abundant.

16:12

ADI Analog Devices beats by $0.05, beats on revs; guides Q2 EPS above consensus, revs above consensus (28.38 -0.22)

Reports Q1 (Jan) earnings of $0.43 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.38; revenues rose 5.5% year/year to $603 mln vs the $575.5 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.48-0.51, excluding non-recurring items, vs. $0.41 consensus; sees Q2 revs of $635-650 mln vs. $596.63 mln consensus. Gross margin was 61.1% of revenue, compared to 56.3% of revenue in the immediately prior quarter, and 56.4% of revenue in the year-ago period. Gross margin improvements were primarily due to lower manufacturing costs, increased factory utilization, and strong sales of products sold to industrial and communications infrastructure customers. "Order rates from end customers were strong throughout the first quarter of fiscal 2010, increasing 8% sequentially. As a result, the opening backlog for shipment in the second quarter increased substantially. Based on order rates and customer feedback, we expect revenue from industrial and communications infrastructure customers to grow in the second quarter, and revenue from consumer customers to be approximately flat."

16:12

ODSY Odyssey Healthcare beats by $0.06, slight miss on revs (16.59 +0.74)

Reports Q4 (Dec) earnings of $0.35 per share, $0.06 better than the First Call consensus of $0.29; revenues rose 3.6% year/year to $173.4 mln vs the $175.8 mln consensus.

16:12

UIL UIL Holdings reports Q4 EPS of $0.22 vs $0.23 First Call consensus; IL Holdings sees FY10 EPS of $1.87-2.02 vs $2.05 First Call consensus; (27.11 -0.13)

16:11

UMPQ Umpqua repays TARP funds (12.10 -0.06)

Umpqua Holdings, parent company of Umpqua Bank, has redeemed all 214,181 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, (the "Preferred Stock") originally issued to the U.S. Department of the Treasury under the TARP Capital Purchase Program (CPP). On Feb. 17, 2010 co paid a total of $214.2 mln to the Treasury, consisting of $214,181,000 in principal and $59,500 in accrued and unpaid dividends. The co's redemption of the shares is not subject to additional conditions or stipulations from the Treasury.

16:10

CECO Career Education beats by $0.03, beats on revs (22.87 +0.95)

Reports Q4 (Dec) earnings of $0.36 per share, $0.03 better than the First Call consensus of $0.33; revenues rose 19.4% year/year to $507.8 mln vs the $496.8 mln consensus. CECO Q4 Total New Student Starts 28,440 up 18% y/y; compared to 37,670 in Q3. CECO Q4 Total Student Population 116,800 up 27% y/y; compared to 114,200 in Q3.

16:09

DSCO Discovery Labs announces proposed public offering of common stock and warrants (0.71 -0.03)

The co announces that it intends to offer, subject to market and other conditions, shares of its common stock and common stock purchase warrants in an underwritten public offering. The offering is expected to price before 9:30 a.m. EST on February 18, 2010.

16:09

BWP Boardwalk Pipeline announces secondary public offering of common units by Boardwalk Pipelines Holding (31.02 +0.12)

Co announces the commencement of a secondary public offering of 10 mln common units owned by Boardwalk Pipelines Holding Corp., which indirectly wholly owns the Partnership's general partner and is a wholly owned subsidiary of Loews Corporation. The underwriters are expected to be granted a 30-day option to purchase up to 1,500,000 additional common units.

16:09

HNZ HJ Heinz expects Q3 EPS of $0.82 vs. $0.71 First Call consensus; raisies FY10 EPS outlook (45.02 +0.50)

Co issues upside guidance for Q3, sees EPS of $0.82 vs. $0.71 First Call consensus. Co also raises guidance for FY10, sees EPS from continuing operations to a range of $2.82-$2.85 vs. $2.82 First Call consensus. Co states, "Our expected third-quarter results reflect dynamic growth in Emerging Markets and volume growth of around 4% in our U.S. Retail business and around 9% in the U.K. business, driven by robust marketing initiatives. He noted that "the third quarter is expected to show substantial improvement in margins, a more than 40% increase in marketing investments and exceptionally strong operating free cash flow of around $425 million, up more than 80% from a year ago."

16:08

NTAP NetApp beats by $0.02, beats on revs; guides Q4 EPS above consensus, revs above consensus (32.08 -0.22)

Reports Q3 (Jan) earnings of $0.40 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.38; revenues rose 35.3% year/year to $1.01 bln vs the $0.95 bln consensus. Co issues upside guidance for Q4, sees EPS of $0.42-0.44, excluding non-recurring items, vs. $0.41 consensus; sees Q4 revs of $1.07-1.10 bln vs. $992.89 mln consensus.

16:08

ACLS Axcelis Tech reports Q4 revs of $38.7 mln vs. $42.0 mln a year ago; EPS of ($0.10) vs. ($0.24) a year ago (1.78 +0.06)

"During the downturn we made positive strides in improving our business model and we are now seeing the rewards. In particular we are pleased that we generated cash in the quarter. While we expect this positive trend to continue and we believe we will be cash flow positive in 2010, quarterly cash flows may vary due to timing of shipments, customer buying patterns and investments in working capital. We are experiencing a significant increase in recent order flow and are forecasting sales to be up across all product lines and service programs. These contributions strengthen our foundation for the future, and we look forward to capitalizing on the significant opportunities that lie ahead."

16:08

HPQ Hewlett-Packard beats by $0.04, beats on revs; guides Q2 EPS midpoint above consensus, revs above consensus; raises FY10 guidance (50.12 +0.68)

Reports Q1 (Jan) earnings of $1.10 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $1.06; revenues rose 8.2% year/year to $31.18 bln vs the $30.01 bln consensus. Imaging and Printing Group (IPG) revenue increased 4% to $6.2 billion. Personal Systems Group (PSG) posted a 26% increase in unit shipments and maintained the leading market share position in PCs worldwide. Enterprise Storage and Servers (ESS) reported total revenue of $4.4 billion, up 11%. Services revenue decreased 1% to $8.7 billion. Guidance: Co issues upside guidance for Q2, sees EPS of $1.03-1.05 vs. $1.03 consensus; sees Q2 revs of $29.4-29.7 bln vs. $29.03 bln consensus. Co raises guidance for FY10, sees EPS of $4.37-4.44 vs. $4.37 consensus; sees FY10 revs of $121.5-122.5 bln vs. $120.03 bln consensus. FY10 guidance is up from prior guidance for EPS and revs of $4.25-4.3 and $118-119 bln... "Solid performance across the business and disciplined execution on our cost initiatives contributed to strong growth in cash flow and EPS," said Cathie Lesjak, HP executive vice president and chief financial officer. "We will continue to invest for growth and leverage our scale and global position to take advantage of an improving demand environment."

16:07

CHK Chesapeake Energy beats by $0.07, beats on revs (26.36 +0.53)

Reports Q4 (Dec) adjusted earnings of $0.77 per share, $0.07 better than the First Call consensus of $0.70; revenues fell 25.5% year/year to $2.22 bln vs the $2 bln consensus. As announced on Feb. 16, 2010, CHK's daily production for the 2009 fourth quarter averaged 2.618 bcfe, an increase of 135 million cubic feet of natural gas equivalent, or 5%, over the 2.483 bcfe produced per day in the 2009 third quarter and an increase of 302 mmcfe, or 13%, over the 2.316 bcfe produced per day in the 2008 fourth quarter. As of Feb. 12, 2010, CHK's natural gas and oil hedging positions with 14 different counterparties had a positive mark-to-market value of approximately $95 mln. The company's realized hedging gains for the 2009 full year were $2.346 billion and since January 1, 2001 have been $4.421 billion.

16:07

LVS Las Vegas Sands reports EPS in-line, beats on top-line (17.46 -0.10)

Reports Q4 (Dec) earnings of $0.03 per share, in-line with the First Call consensus of $0.03; revenues rose 17.4% year/year to $1.28 bln vs the $1.23 bln consensus. Sheldon G. Adelson, chairman and CEO, stated, "While our current quarter's results in Las Vegas reflect lower room and food and beverage revenues, principally because of less group business in Las Vegas, our gaming volumes have stabilized, and the execution of our cost savings programs has positioned us to deliver improved operating margins and cash flows as the economy and our group business recover. We believe 2010 will reflect a recovery in the group business in Las Vegas, as recent booking trends reflect increases compared to 2009."... "In Singapore, we are rapidly approaching the opening of Marina Bay Sands, the first phase of which will open in late April. We have ramped up pre-opening activities for each of the major operational areas of the property and look forward to introducing our convention-based integrated resort business model to Singapore about 10 weeks from today."... "Finally, we made steady progress during the year on our de-leveraging strategy. The completion of the listing of Sands China Ltd. on the Hong Kong Stock Exchange significantly strengthened our balance sheet, which now includes nearly $5.0 billion of cash and cash equivalents."

16:07

JACK Jack In The Box misses by $0.02, reports revs in-line; guides FY10 EPS in-line (21.70 )

Reports Q1 (Dec) earnings of $0.43 per share, $0.02 worse than the First Call consensus of $0.45; revenues fell 12.3% year/year to $681.3 mln vs the $676.5 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.85-$2.05 vs. $2.03 consensus. For Q2, co says same store sales are expected to decrease 8%-10% at Jack in the Box company restaurants versus a 0.4% increase in the year-ago quarter. Same-store sales are expected to range from flat to down 2% at Qdoba system restaurants versus a 2.3% decrease in the year-ago quarter. Refranchising gains are expected to be lower than the year-ago quarter as a result of the timing of such transactions, although the full-year guidance remains unchanged. For FY10, co sses a 5%-8% -- 5 to 8 percent decrease in same-store sales at Jack in the Box company restaurants, with trends improving in the second half of the fiscal year. Co sees flat to 2% decrease in same-store sales at Qdoba system restaurants.

16:06

PTP Platinum Underwriters beats by $0.25 (36.35 +0.28)

Reports Q4 (Dec) earnings of $1.76 per share, $0.25 better than the First Call consensus of $1.51. "Absent a major event in the insurance or capital markets, we expect the reinsurance marketplace to show deterioration over the course of 2010. We will continue with our strategy of responding to changes in market conditions and underwriting for profitability, not market share. We believe 2010 will be a challenging year from an underwriting perspective, but market conditions should allow us to participate selectively in a range of reinsurance classes."

16:05

SKX Skechers USA beats by $0.06, reports revs in-line (29.87 +0.78)

Reports Q4 (Dec) earnings of $0.58 per share, $0.06 better than the First Call consensus of $0.52; revenues rose 30.4% year/year to $388.6 mln vs the $386.8 mln consensus. Co says, "All indicators are pointing to growth in 2010. Our backlog is up 40% as of December 31, 2009 over the prior year; combined domestic and international store comps increased 17.4% for the fourth quarter; and we are just completing five weeks of pre-lines with key accounts, which reacted very positively to our new product."

16:04

OFIX Orthofix beats by $0.03, beats on revs; guides FY10 EPS above consensus, revs above consensus (31.53 +0.50)

Reports Q4 (Dec) earnings of $0.53 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.50; revenues rose 9.1% year/year to $144 mln vs the $141 mln consensus. Co issues upside guidance for FY10, sees EPS of $2.00-2.04 vs. $1.91 consensus; sees FY10 revs of $580-588 mln vs. $577.98 mln consensus.

16:03

ITRI Itron beats by $0.22, beats on revs (62.45 +0.21)

Reports Q4 (Dec) earnings of $0.82 per share, ex-items, $0.22 better than the First Call consensus of $0.60; revenues rose 10.4% year/year to $477 mln vs the $434.9 mln consensus. Gross margin for the fourth quarter of 2009 was 30%, which was lower than the 34% in the fourth quarter of 2008. Co states, "We did see a pick-up in business in North America in the fourth quarter and made great progress in shipping OpenWay meters and modules in support of our AMI contracts. We have now shipped more than one million OpenWay units. That, combined with our record twelve month backlog of $807 million, gives us great confidence going into 2010."

16:03

ITMN InterMune beats by $0.08 (15.71 +0.06)

Reports Q4 (Dec) loss of $0.62 per share, $0.08 better than the First Call consensus of ($0.70); revenues fell 10.7% year/year to $6.6 mln vs the $6.8 mln consensus.

16:02

CYBE CyberOptics reports Q4 sales of $9.0 mln vs. $6.7 mln a year ago; EPS of ($0.24), including items, vs. ($0.12) a year ago (7.54 -0.20)

Net loss includes a non-cash income tax charge of $573,000 or $0.08 per share resulting from the carry-back of our 2009 taxable loss to periods previously closed by statute. We expect to receive a federal tax refund resulting from this carry-back in 2010 of approximately $2.5 million.

16:02

LVS Las Vegas Sands prelim $0.03 vs $0.03 First Call consensus; revs $1.28 bln vs $1.23 bln First Call consensus (17.46 -0.10)

16:01

JMBA Jamba and Core-Mark sign a memorandum of intent to sell Jamba-Branded products through Core-Mark serviced retail convenience stores (1.65 +0.02)

The co and Core-Mark Holding Company (CORE) announced that they signed a non-binding memorandum of intent to establish a relationship to offer and deliver health-oriented Jamba branded food and beverage consumer products to Core-Mark serviced convenience retail locations. Core-Mark services approximately 24,000 convenience retail locations throughout the United States and Canada.

16:00

BMTI Biomimetic Therapeutics completes submission of PMA application for FDA approval of Augment bone graft (11.98 -0.56)

Co announced it has submitted the third and final module of its Premarket Approval (PMA) application for marketing of Augment Bone Graft in the U.S. This final module, containing a comprehensive review of the clinical data related to Augment, completes the PMA application to the FDA. The Company previously announced the filing of both the pre-clinical pharmacology/toxicology and quality/manufacturing modules with the FDA in June of 2009. A modular submission breaks the PMA document into sections or "modules" filed at different times that together become a complete application. The modular approach allows the applicant to potentially resolve any concerns noted by FDA earlier than would occur with a traditional PMA application, and may ultimately shorten the review and approval timeline.

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