Briefing.com: Hourly In Play (R) – 09:00 ET

Feb 26, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 26-Feb-10 09:00 ET

08:56

COMDX A pull back in the dollar index, from the flat line, is helping crude, gold and silver move higher

Crude oil currently up 48 cents to $78.65; gold higher by $3.90 to $1112.40 and silver is up 8.5 cents to $16.195.

08:54

SID Comp Siderurgica reports 4Q09 results

Reports Q4 (Dec) net income of R$745.0 mln. Total steel product sales volume grew by 58% in the second half of 2009 over first six months sales. Domestic steel product sales volume reached 1.0 million tonnes in 4Q09, 14% up on 3Q09. Net revenue in 4Q09 increased 18.8% year/year to R$3.06 bln vs R$2.64 bln First Call consensus, with increased domestic sales volume and an improved steel product mix.

08:50

IWA Iowa Telecom reports loss per share of ($0.06); misses on revs (16.22 )

Reports Q4 (Dec) loss of ($0.06) per share, may not compare to the First Call consensus of $0.14; revenues rose 1.1% year/year to $65.7 mln vs the $67.7 mln consensus. Co states, "On November 23, 2009, our Board of Directors approved an agreement for Windstream Corporation to acquire our company in a transaction valued at approximately $1.1 bln. Our loss for the quarter was primarily the result of costs related to this transaction. The transaction is proceeding as planned and we continue to anticipate a closing in mid-2010."

08:47

D Dominion submits revised settlement agreement with support of all parties in pending Virginia rate proceedings (38.34 )

Co notes Virginia jurisdictional base rates would remain at pre-September 1 levels, base return on equity set at 11.9 percent, customer credits increased by $132 mln - co will forego recovery of $142 mln of deferred RTO start-up and administrative fees plus carrying costs of $55 mln, co affirms 2010 operating earnings guidance of $3.20 to $3.40 per share, agreement subject to State Corporation Commission approval

08:37

BXS BancorpSouth announces delay in filing; adjustments are expected to decrease net income (20.23 )

Co announced its intention to file a Form 12b-25 notification of late filing in connection with its Annual Report. Co determined that certain asset quality indicators, including the allowance for credit losses, and their impact on BancorpSouth's financial statements for the quarter ended December 31, 2009 should be further reviewed. On January 21, 2010, BancorpSouth made a preliminary release of unaudited financial results for the quarter and year ended December 31, 2009. The unaudited financial results reported net income of $19.4 million, which reflected a credit loss provision of $34.7 million, for the fourth quarter. Net charge-offs were $24.6 million, or 1.01% as a percentage of average loans (annualized) for the quarter ended December 31, 2009. Based on information currently available, co anticipates that the unaudited consolidated balance sheet and the consolidated income statement for the quarter and year ended December 31, 2009 will be adjusted prior to issuance of the Annual Report on Form 10-K. The adjustments are expected to decrease net income.

08:34

SPY Delayed price action kicking in here as the e~mini index futures tick to fresh GLOBEX lows in recent trading as data is digested -Technical-

Now,

S&P 500 (ES) -.25

NDX 100 (NQ) -2.75

INDU 30 (YM) -10

08:33

MSA Mine Safety beats by $0.01, misses on revs (24.68 )

Reports Q4 (Dec) earnings of $0.35 per share, $0.01 better than the First Call consensus of $0.34; revenues fell 18.2% year/year to $236.1 mln vs the $240.7 mln consensus. "Looking forward, our challenges remain clear. We are committed to taking the actions necessary to strengthen gross margins and improve productivity. This need is particularly evident in Europe. Earlier this year we began a project to streamline our operating model in Europe. This multi-year project will reduce operating costs, centralize decision making and generally improve the effectiveness of our European organization. Overall, 2009 was a year in which we adopted a defensive posture and focused on cost management activities to offset the effects of the recession. With signs of an economic recovery now beginning to surface, we're shifting that focus to one of investing in those areas that will help us restore growth, build market share and provide a foundation for our long-term success."

08:31

GNK Genco Shipping subsidary Baltic Trading Limited commences IPO (21.17 )

Co announced that its wholly-owned subsidiary, Baltic Trading Limited, has filed an amendment to its registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock, par value $0.01 per share. The initial public offering price is anticipated to be between $14.00 and $16.00 per share. The Offering is currently expected to include 16,300,000 shares of common stock (18,745,000 shares of common stock if the underwriters exercise their over-allotment option in full). Baltic Trading's common stock has been approved for listing on the New York Stock Exchange under the symbol "BALT." Baltic Trading plans to use the proceeds of the offering, together with a $75 mln capital contribution from Genco, to acquire its initial fleet.

08:31

MGM MGM Mirage announces successful amendment and extension transaction (10.45 )

Co announces that lenders representing approximately $4.37 bln of the outstanding commitments under its $5.55 bln senior bank credit facility have entered into an amendment agreement which, subject to certain conditions, will extend the maturity of a portion of the credit facility from October 3, 2011 to February 21, 2014. Pursuant to the Amendment a restatement of the co's senior credit facility will become effective upon the making of certain required prepayments and satisfaction of certain documentary conditions provided that these occur no later than June 30, 2010. The Restated Loan Agreement will: 1) Require the co to make a 20% reduction in credit exposures to lenders which have agreed to extend their commitments, other than lenders which have waived such reduction; 2) Re-tranche the senior credit facility so that approximately $1.4 bln of revolving loans and commitments will be effectively converted into term loans, leaving a revolving credit commitment of $2.0 bln, approximately $400 mln of which will mature in October 2011; 3) Require the co to repay the approximately $1.2 bln owed to lenders who have not agreed to extend their commitments by October 2011; 4) Extend the maturity date for the remaining approximately $3.6 bln under the credit facility through Feb 21, 2014; 5) Provide for extension fees and a 100 basis point increase in interest rate for extending lenders; 6) Continue the existing minimum EBITDA and capital expenditure covenants with periodic step-ups during the extension period; and 7) Permit the co to issue unsecured debt and equity to refinance interim maturities.

08:30

SPY E~mini index futures see little initial change following revised GDP data -Technical-

S&P 500 (ES) +1.50

NDX 100 (NQ) +.25

INDU 30 (YM) +1

08:30

KMGB KMG Chemicals signs definitive agreement to acquire General Chemical's electronic chemicals business (12.89 )

Co announces that it has entered into a definitive agreement to acquire certain assets of the electronic chemicals business of General Chemical Performance Products, LLC for $25.5 million in cash, which includes an estimated $7.0 million of inventory, and approximately $850,000 of assumed liabilities. The soon-to-be-acquired business generated approximately $42.7 million in revenues in calendar year 2009. The acquisition is expected to be significantly and progressively accretive to KMG's earnings in fiscal 2011 and 2012 as the business is integrated into KMG, and as the combined electronic chemicals operational synergies are realized. However, it is anticipated that transaction, closing and integration expenses will result in the acquisition being mildly dilutive to earnings in the second half of fiscal 2010.

08:30

AEZ American Oil & Gas enters into letter of intent to receive ~$44 million from sale of Powder River Basin, WY Assets (4.81 )

Co entered into a letter of intent with a large independent oil and natural gas production company to sell all of American's ownership in non-producing wells, producing wells and undeveloped acreage located in the Powder River Basin of Wyoming for ~$44 million. The sale will include all of American's ownership in the Fetter and Krejci projects. The letter of intent is subject to land due diligence by the purchaser and other conditions and is expected to close by March 31, 2010.

08:15

FWLT Foster Wheeler awarded contract for two circulating fluidized-bed steam generators in China (26.50 )

Co announces that a subsidiary of its Global Power Group has been awarded a contract by Sinopec Jiujiang Company for the design and supply of two circulating fluidized-bed steam generators for the Sinopec Jiujiang Fuel Alteration Project located in Jiangxi province in south central China.

08:11

ECONX Reminder: GDP-Second Estimate due out in about 19 min at 8:30ET

08:10

S&PBulletin says weak growth could undermine Spain's fiscal program

Standard & Poor's Ratings Services said that the Kingdom of Spain's (AA+/Negative/A-1+) weak growth prospects could undermine the government's fiscal consolidation program. In our view, the general government deficit is likely to remain above 5% of GDP through to 2013 versus the official forecast of 3% of GDP by 2013. As a result, we expect the general government debt burden to rise above 80% of GDP by 2012. We also expect much weaker economic performance than current budgetary assumptions. There is, moreover, significant implementation risk with regard to the government's fiscal consolidation plans, which are not yet fully specified. The 2010 budget contained 2.2% of GDP in mostly revenue-increasing measures in order to correct the general government budget deficit, which is estimated at 11.4% of GDP in 2009. Since the passage of the budget, the government has announced a further 3.6% of GDP in largely unspecified expenditure cuts, which are mostly planned to take affect in 2011-2013. Alongside an improvement in the cyclical component of the general government deficit (1.4% of GDP); a reversal in temporary measures (2.5% of GDP) taken to alleviate the economic impact of the recession; and an expected increase in interest payments by 1.2% of GDP, the government expects the deficit to reach 3% of GDP in 2013.

08:10

On The Wires

Level 3 Communications (LVLT) expanded its operations and is enhancing its local presence in South Texas, which includes the Houston and Austin metropolitan areas... Cypress Envirosystems, a subsidiary of Cypress Semiconductor (CY), announces that Airgas (ARG) will market Cypress Envirosystems' solution to automate gas cylinder monitoring... ChipMOS TECHNOLOGIES (IMOS) entered into a share purchase agreement with Siliconware Precision Industries (SPIL) to sell to SPIL Company's holding of 133,000,000 common shares of its wholly owned subsidiary, ChipMOS TECHNOLOGIES, with a consideration of approximately ~$51 mln. The purchased shares represent ~15.8% of the total number of ChipMOS Taiwan's outstanding shares. Under the terms and conditions of the Share Purchase Agreement, SPIL will pay the purchase price in four installments to the Company with the final installment scheduled to be paid on or about March 31, 2011.

08:07

DRH Diamondrock Hospitality misses by $0.04, misses on revs (8.98 )

Reports Q4 (Dec) funds from operations of $0.18 per share, $0.04 worse than the First Call consensus of $0.22; revenues fell 19.4% year/year to $175.7 mln vs the $189.6 mln consensus. The impact of the severe economic recession on U.S. travel fundamentals and the Company's operating results is likely to persist for some period of time. Lodging demand has historically correlated with several key economic indicators such as GDP growth, employment trends, corporate profits, consumer confidence and business investment. Although there have been recent signs that occupancy in the industry may have stabilized, average daily rates have continued to decline. Despite the occupancy stabilization, the shift from traditionally high-rated business transient customers to leisure customers has significantly impacted the profitability of our hotels. The Company does not anticipate a significant improvement in lodging fundamentals until its business mix improves. The Company expects lodging demand to follow its historical course and lag the general economic recovery by several quarters and thus, anticipates a challenging operating environment into 2010.

08:04

GHDX Genomic Health announces analysis reinforcing clinical utility of Oncotype DX breast cancer test in Asia Pacific patient population (17.56 )

Co announces results from an analysis demonstrating that the Oncotype DX breast cancer test has similar clinical relevance in estrogen receptor-positive, early-stage breast cancer patients in Asia Pacific countries as it does in a comparable U.S.-based patient population. The analysis showed that this advanced diagnostic test consistently identified more than 50 percent of hormone receptor positive early-stage breast cancer patients in A.P. countries as having low Recurrence Scores, similar to what has been shown in U.S. and European clinical studies evaluating the Oncotype DX breast cancer test.

08:04

PTEC Phoenix Tech appoints Tom Lacey as President and CEO (2.70 )

The co announces that its Board of Directors has named Tom Lacey as the company's President and Chief Executive Officer, effective as of February 25, 2010. Additionally, Mr. Lacey has been appointed to serve as a member of the company's Board of Directors. Prior to joining Phoenix, Mr. Lacey served as corporate Vice President and General Manager of Applied Materials' SunFab Thin Film Solar Products since 2009, where he was responsible for all aspects of the turnkey solar thin-film production business.

08:04

CCC Calgon Carbon beats by $0.07, beats on revs (13.90 )

Reports Q4 (Dec) earnings of $0.23 per share, $0.07 better than the First Call consensus of $0.16; revenues rose 8.1% year/year to $110.7 mln vs the $107.4 mln consensus.For the fourth quarter of 2009, sales for the Activated Carbon and Service segment increased by 14.0% versus the fourth quarter of 2008. The increase was primarily due to higher demand for activated carbon products in the environmental air treatment market and higher pricing in the food and potable water markets. Equipment sales decreased by 26.7%, due to lower demand for ion exchange, odor control and traditional carbon adsorption systems. Consumer sales for the fourth quarter of 2009 increased 20.1% due to higher demand for activated carbon cloth and PreZerve products.

08:03

ARNA Arena Pharm receives PDUFA date for Lorcaserin NDA of Oct 22 (3.05 )

Co announced that the US Food and Drug Administration (FDA) has assigned a Prescription Drug User Fee Act (PDUFA) date of October 22, 2010, for the review of the lorcaserin New Drug Application (NDA).

08:03

BDSI BioDelivery plans for three products entering phase 3 next year (3.56 )

Co provided a summary of its business overview webcast that was conducted on Thursday, February 25, 2010. Announced were additional results of BDSI's Phase 2 clinical study with BEMA Buprenorphine for the treatment of pain following third molar extraction (dental surgery). Further analysis of the Phase 2 data has revealed a more robust effect of BEMA Buprenorphine on the primary outcome measure, SPID 8, in patients with more severe pain at baseline (pain score of 7 or greater). In this subset of the data, all three doses (low, medium, and high) of BEMA Buprenorphine were nearly or actually statistically superior (p= 0.06, 0.03, and 0.02 respectively) to placebo. The key secondary endpoint, TOTPAR 8, followed the same pattern as the SPID 8 with the high dose statistically superior to placebo and the medium dose nearly significant. The results of the study support the potential use of BEMA Buprenorphine for the treatment of chronic pain. No serious adverse events were seen at any dose, and side effects were typical of those seen with a strong opioid. Management also discussed plans for the development of a "high dose" formulation of buprenorphine with naloxone for the treatment of opioid dependence. Management stated its belief that a BEMA formulation may be able to address some of the drawbacks associated with the currently marketed formulation of buprenorphine/naloxone, Suboxone, which reported retail sales of nearly $900 million in 2009. Anticipated approvals of ONSOLIS in the E.U., which would result in the receipt of a $5 mln milestone payment to BDSI.

08:03

CHCI Comstock Homebuilding: Court awards Comstock Homebuilding $11.7 Million judgment in potomac yard litigation (0.91 )

The co announces that on February 24, 2010, the United States District Court for the Eastern District of Virginia, Alexandria Division, issued a Memorandum Opinion and Order awarding Plaintiff, Comstock Potomac Yard, a subsidiary of the Company, a total of $11,733,002 from the defendant, Balfour Beatty Construction, successor in interest to Centex Construction. In addition, Comstock Potomac Yard is entitled to recovery of certain attorney's fees in an amount to be determined at a future date. Balfour was the general contractor for Comstock Potomac Yard's Eclipse on Center Park Condominium project in Arlington, Virginia. The judgment resulted from litigation initiated by Comstock Potomac Yard in September of 2008 against Balfour to recover its actual and liquidated damages due to construction delays and additional costs incurred by Comstock Potomac Yard with respect to the Project and to invalidate mechanics liens improperly filed by Balfour against the Project on July 28, 2008. The mechanics liens had been previously removed from the Project by a court order dated April 20, 2009.

08:02

CNP CenterPoint misses by $0.03, reports revs in-line (14.10 )

Reports Q4 (Dec) earnings of $0.27 per share, $0.03 worse than the First Call consensus of $0.30; revenues fell 17.1% year/year to $2.3 bln vs the $2.29 bln consensus.

08:01

GPS Gap Inc: Correction (20.39 ) -Update-

In our GPS earnings comment, we incorrectly stated that the Board increased their quarterly dividend, when in fact the $0.40 dividend is an annual rate. The co raised its annual dividend to $0.40 from $0.34, our previous comment has been changed.

08:01

BRCM Broadcom authorized a new evergreen share repurchase program (31.40 )

Co authorized a new evergreen share repurchase program under which it may repurchase shares of Broadcom's Class A common stock. Repurchases under this program are intended to reduce or eliminate the dilution associated with stock incentive plans. Repurchases under the new program will be made in open market or privately negotiated transactions. Broadcom expects to use cash on hand to fund the repurchases. The Board has not established an end date for the new repurchase program. The plan does not obligate Broadcom to acquire any particular amount of common stock, and it may be suspended at any time at the company's discretion. The evergreen share repurchase program may be complemented with an additional share repurchase program in the future.

08:01

RTN Raytheon wins $886 mln contract to develop next-generation GPS control segment (55.85 )

Co selected by U.S. Air Force for an initial contract of $886 mln to develop a new element of the Global Positioning System to improve the accuracy of information from GPS satellites. The contract represents the first two development blocks of the advanced control segment (OCX), which will have a significant impact on GPS capabilities. The OCX system will include anti-jam capabilities and improved security, accuracy and reliability and will be based on a modern service-oriented architecture to integrate government and industry open-system standards.

08:00

BPO Brookfield Properties and unit Proposes to Convert to Pre-Eminent Canadian Office REIT (13.62 )

Brookfield Properties Corporation (BPO) and its Canadian-based subsidiary BPO Properties Ltd. announce a proposal to create Canada's pre-eminent office real estate investment trust. Upon conversion, the new REIT, to be named Brookfield Office Properties Canada, will acquire BPP's directly owned office assets in Toronto, Calgary and Vancouver and will also acquire Brookfield Properties' interest in Brookfield Place, widely regarded as the top commercial complex in Canada. If approved by BPP shareholders, upon closing of the transaction, it is expected that Brookfield Office Properties Canada will pay a special distribution of $1.02 per unit to unitholders and will also begin to pay monthly distributions of $0.0667 per unit, double BPP's current quarterly dividend of $0.10 per common share.

07:59

DRC Dresser-Rand earnings correction: Co misses by $0.05 (31.85 )

Last night we reported Q4 EPS of $0.50 vs the $0.66 consensus; however the $0.50 reported EPS included a $0.04 unusual pension plan charge and a $0.07 loss from FX in connection to the co's Venezuelan subsidiary; therefore, the co's comparable Q4 EPS was $0.61 vs. the $0.66 consensus; the co actually missed by $0.05. The prior comment has been removed... The comment should have read: Reports Q4 (Dec) earnings of $0.61 per share, $0.05 worse than the First Call consensus of $0.66; revenues fell 24.6% year/year to $562.5 mln vs the $652.4 mln consensus. The co reiterates its guidance for FY10; with operating income expected to be in the range of $260-300 mln, with new unit margins in high single digits and aftermarket segment margins in the range of 24-26%. The co expects its FY10 interest expense to be in the range of $30-35 mln and its effective tax rate to be ~35%. The co expects 1Q10 operating income to be in the range of 16-18% of the total year. Additionally, the Venezuelan govt devalued the Bolivar on January 8, 2010, which is expected to result in a foreign exchange loss of approximately $14 mln in 1Q10. Bookings for 4Q09 were $610.2 mln, which was $100.6 mln or 14.2% lower than the $710.8 mln booked in 4Q08. The backlog at the end of December 2009 of $1,711.7 mln was 24.0% lower than the $2,251.5 mln backlog at the end of December 2008. At December 31, 2009, 73.1% of the backlog of $1,711.7 mln was scheduled to ship in 2010. Co also announces a $200 mln share repurchase program, representing ~8% of the co's outstanding shares.

07:56

BGG Briggs & Stratton acts to resolve pending legal actions (17.60 )

Co announced that it has entered into a Stipulation of Settlement that, if given court approval, will resolve over 65 class-action lawsuits that have been filed against Briggs & Stratton and other engine and lawnmower manufacturers alleging, among other things, misleading power labeling on its lawnmower engines. As part of the settlement, Briggs & Stratton and the other settling defendants have agreed to establish a class wide cash settlement fund totaling $51 mln, as well as certain injunctive relief concerning the power labeling of engines for the next ten years.

07:47

AIG American Intl coming under considerable pressure following earnings... currently down 14% near $24 level (27.51 ) -Update-

07:40

MIR Mirant beats by $0.23, beats on revs (12.96 )

Reports Q4 (Dec) earnings of $0.75 per share, excluding non-recurring items, $0.23 better than the First Call consensus of $0.52; revenues fell 56.5% year/year to $481 mln vs the $406.3 mln consensus. 4Q09 adjusted EBITDA from continuing operations was $184 mln compared to 4Q08 adjusted EBITDA from continuing operations of $150 mln. Mirant reduces its 2010 adjusted EBITDA guidance from $617 mln to $613 mln and provided initial 2011 adjusted EBITDA guidance of $387 mln. The reduction in the guidance for 2011 relative to 2010 reflects lower realized value of hedges and lower capacity revenues, partially offset by lower operating expenses.

07:39

On The Wires

MoneyGram International (MGI) announces that it acquired Blue Dolphin Financial Services as part of the company's strategy to grow its owned retail network in regions with strong remittance potential. Today, there are 18 Blue Dolphin locations in Belgium and the Netherlands... Gannett (GCI) and Oahu Publications announce that they have reached an agreement for OPI to acquire The Honolulu Advertiser and related assets including website, non-daily publications and Gannett's interest in Hawaii.com. Gannett will maintain its ownership of 605 Kapiolani Blvd., Honolulu. The financial terms were not disclosed... Net 1 UEPS Technologies (UEPS) announces that it has agreed to acquire the operating business of FIHRST Management Services Limited for ~$9 mln in cash. FIHRST is a South African private company that offers a third party payroll payments solution to approximately 1,170 companies, representing 700,000 employees with a transaction volume of approximately R40 billion per annum. The transaction is expected to close in April 2010 once all regulatory approvals have been obtained... The Empire District Gas Company (EDE) announces that the Missouri Public Service Commission has unanimously approved an agreement between the Office of the Public Counsel, the MPSC staff, and Empire which authorizes Empire to increase annual natural gas operating revenues by ~$2.6 mln, or about 4.37%.

07:39

CKR CKE Restaurants to be acquired by Thomas H. Lee Partners for $11.05/share in cash (8.91 )

CKR and Thomas H. Lee Partners announced that they have entered into a definitive merger agreement under which THL will acquire CKR for approximately $928 million, including the assumption of approximately $309 million of net debt. Under the terms of the agreement, CKE stockholders will receive $11.05 in cash for each share of CKE common stock they hold. In addition, under the merger agreement, CKE Restaurants will actively solicit superior proposals from third parties for a period of 40 days continuing through April 6, 2010. The transaction is expected to close in the second quarter of 2010.

07:36

CPNO Copano Energy announces correction to Q4 net income and earnings per unit (23.69 )

Co announced that the net income and net income per unit on a diluted basis that it reported for the quarter and year ended December 31, 2009 were incorrect. On February 25, 2010, Copano reported net income of $9.3 mln, or $0.16 per unit on a diluted basis, for the fourth quarter of 2009. Copano now anticipates that net income for the fourth quarter of 2009 will be between $8.3 mln and $7.3 mln, or between $0.14 per unit and $0.13 per unit on a diluted basis. The reduction in net income resulted from a non-cash impairment charge associated with inactive pipelines owned by Bighorn Gas Gathering, in which Copano owns a 51% interest. Copano is currently evaluating the precise impact of the impairment charges on its net income and net income per unit for the fourth quarter and full year 2009. Copano Energy

07:34

KVHI KVH Industries & Japan Radio sign global distribution agreement for mini-VSAT broadband products (12.30 )

Co announced a new distribution agreement with Japan Radio (JRC) for KVH's TracPhone V7 satellite communications system and the mini-VSAT Broadband service, which will become JRC's hardware and airtime solution for maritime VSAT communications. Under the terms of this arrangement, JRC will begin selling the KVH-branded TracPhone V7 system on a global basis through its established distributor and dealer channels. JRC will also be authorized to sell the mini-VSAT Broadband airtime service to non-Japanese vessel owners and operators.

07:32

DRQ Dril-Quip beats by $0.02, misses on revs; guides Q1 EPS in-line (56.51 )

Reports Q4 (Dec) earnings of $0.72 per share, $0.02 better than the First Call consensus of $0.70; revenues fell 4.1% year/year to $135.5 mln vs the $137.7 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.62-0.72 vs. $0.71 consensus.

07:30

RUE rue21 announces pricing of secondary offering of ~6 mln shares at $28.50/share (29.12 )

07:12

JRCC James River Coal misses by $0.56, misses on revs; guides FY10 EPS below consensus (17.00 )

Reports Q4 (Dec) loss of $0.12 per share, $0.56 worse than the First Call consensus of $0.44; revenues rose 6.2% year/year to $149.5 mln vs the $175.4 mln consensus. Co issues downside guidance for FY10, sees EPS of $1.70-2.25 vs. $2.93 consensus. Co forecasts adjusted FY10 EBITDA of $140.0-165.0 mln. Co expects to reopen in 3Q10 two high volatile metallurgical coal mines that were idled in March 2009 due to soft market conditions.

07:05

HCII On The Wires

Homeowners Choice (HCII) announces that its wholly-owned insurance subsidiary, Homeowners Choice Property & Casualty Insurance Company, has received approval for a premium rate increase for its homeowners' program within the state of Florida by Florida's Office of Insurance Regulation . Homeowner policies written or renewed on or after April 10, 2010 will reflect an overall average rate increase of 14%... DTS (DTSI) announces significant news in the Digital TV space by entering into a partnership with Samsung Electronics to integrate DTS audio decoding technology into virtually all Samsung digital televisions... General Cable Corporation (BGC) announces that its Board of Directors has amended its Amended and Restated By-laws and its Corporate Governance Principles and Guidelines effective immediately to provide for a majority voting standard for the election of directors in uncontested elections.

07:03

IPG Interpublic reports EPS in-line, beats on revs (6.75 )

Reports Q4 (Dec) earnings of $0.24 per share, in-line with the First Call consensus of $0.24; revenues fell 5.3% year/year to $1.8 bln vs the $1.74 bln consensus. "Our 2009 results reflect the impact the recession had on revenue, but also the strong focus on cost discipline brought to bear by our management teams across the organization. Looking forward, economic conditions appear to have stabilized, clients are beginning to re-focus on their brands and the tone of the business is one of cautious optimism," ... "As important, last year our agencies received a degree of industry recognition and honors, across all marketing disciplines, that is unprecedented for our company. The strength of our professional offerings positions us to grow in step with a broader economic recovery. Our combination of contemporary, competitive agencies and highly disciplined financial management will be key in driving significantly improved profitability in 2010 and long-term success for IPG."

07:01

HSIC Henry Schein announces new strategic partnership with Brain-Pad (56.86 )

Co announced a new strategic partnership with Brain-Pad. Under a new five year agreement, Henry Schein Dental will be the exclusive professional dental distributor in the U.S. and Canada for the NatureZone one-touch UV/Ozone oral appliance sanitizer.

07:01

LEAP Leap Wireless announces settlement of securities class action lawsuit (14.60 )

Co announced that a settlement has been reached in the consolidated securities class action lawsuits pending in the United States District Court for the Southern District of California. The settlement is contingent on court approval and provides for, among other things, dismissal of the lawsuits with prejudice, the granting of broad releases of the defendants, and a payment to the plaintiffs of $13.75 mln, which would include payment of any attorneys' fees for plaintiffs' counsel.

06:41

S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: -0.30.

06:41

Asian Markets

Nikkei...10126.03...+24.10...+0.20%. Hang Seng...20608.70...+209.10...+1.00%.

06:41

European Markets

FTSE...5321.54...+43.30...+0.80%. DAX...5577.64...+45.30...+0.80%.

06:32

MGLN Magellan Health beats by $0.21, beats on revs; reaffirms FY10 EPS guidance, revs guidance (39.51 )

Reports Q4 (Dec) earnings of $1.25 per share, $0.21 better than the First Call consensus of $1.04; revenues rose 8.6% year/year to $718.9 mln vs the $699.7 mln consensus. Co reaffirms guidance for FY10, sees EPS of $2.73-3.29 vs. $3.05 consensus; sees FY10 revs of $3.0-3.2 bln vs. $3.05 bln consensus. "As our customers grapple with rising economic pressures, increasing diagnostic and treatment complexities, and the challenges associated with the management of specialty health care services, many of them are more receptive to innovative, outsourced solutions. Over the past several months, we have met with a number of health plans and state governments who are looking to Magellan for support in addressing their specialty health care management needs. With our comprehensive, multi-specialty solutions, we are uniquely positioned to respond to this market opportunity."

05:25

BIDU Baidu online video co to receive $50 mln investment from Providence Equity Partners (508.87 )

Co announces they and Providence Equity Partners have signed an agreement pursuant to which Providence will invest $50 mln in Baidu's new online video co to develop an advertising supported online video business providing premium licensed content in China. Baidu will continue to maintain majority ownership in the co.

05:22

NWN NW Natural Gas beats by $0.04, misses on revs; guides FY10 EPS in-line (44.10 )

Reports Q4 (Dec) earnings of $1.18 per share, $0.04 better than the First Call consensus of $1.14; revenues fell 11.4% year/year to $309.4 mln vs the $364.4 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.60-2.75 vs. $2.73 consensus.

04:47

TC Thompson Creek Metals beats by $0.07, beats on revenue (13.33 )

Reports Q4 (Dec) earnings of $0.14 per share, excludes items, $0.07 better than the $0.07 First Call consensus; revenues declined 42% year/year to $106.2 mln vs $93.98 mln consensus. Thompson Creek's mines are currently operating at full capacity and co expects molybdenum production in 2010 to reach a record level of 29 to 32 mln pounds. At the same time, cash costs are expected to be in the range of $6 to $7 per pound, which is below current world molybdenum prices of approximately $17 per pound. CEO comments, "The medium-term outlook for molybdenum prices remains favorable, especially as the world industrial economy returns to a more normal growth rate and that growth stimulates additional demand for molybdenum." Co reaffirms previous estimates for 2010 for molybdenum production of 29-32 mln pounds, sales of molybdenum produced at the Company's mines of 27-30 mln pounds, cash cost per pound produced of $6 to $7 per pound, and capital expenditures of $298 mln, including $209 mln for its 75% share of the Endako expansion project.

03:09

TEF Telefonica S.A. reports net profit increased 2.4% in FY09 to 7,776 mln euros (69.52 )

Co reports net profit for the 4Q increased 22% year/year and the client base grew by 6.8 million accesses. Co confirms its objective to obtain basic EPS of 2.10 EUR/share in 2010, reiterates its long-term growth targets and maintains its shareholder remuneration policy with increased dividends of up to at least 1.75 EUR/share in 2012. Co announces consolidated guidance for 2010: Revenues (+1% / +4%), OIBDA (+1% / +3%), and CapEx EUR 7,450 mln /EUR 7,650 mln.

03:05

FRO Frontline misses by $0.06, beats on revs (27.61 )

Reports Q4 (Dec) earnings of $0.05 per share, $0.06 worse than the First Call consensus of $0.11; revenues fell 41.9% year/year to $262.1 mln vs the $206.2 mln consensus. The reported earnings reflect a stronger spot market compared to the third quarter of 2009. The average daily time charter equivalents earned in the spot and period market in the fourth quarter by the cos VLCCs, Suezmax tankers and Suezmax OBO carriers were $33,200, $21,300 and $42,800, respectively, compared with $32,100, $15,900 and $42,200, respectively, in the third quarter. Based on the results achieved so far in Q110, the Board expects improved results for the first quarter of 2010 compared to the fourth quarter of 2009.

02:45

UACL Universal Truckload Services misses by $0.01, beats on revs (17.36 )

Reports Q4 (Dec) earnings of $0.11 per share, $0.01 worse than the First Call consensus of $0.12; revenues fell 21.0% year/year to $139.8 mln vs the $130.9 mln consensus.

02:42

NTLS Ntelos Holdings beats by $0.08, misses on revs (17.03 )

Reports Q4 (Dec) earnings of $0.34 per share, $0.08 better than the First Call consensus of $0.26; revenues fell 3.2% year/year to $133.4 mln vs the $135.4 mln consensus.

02:38

GXDX Genoptix beats by $0.06, reports revs in-line; guides FY10 EPS below consensus, revs in-line (32.18 )

Reports Q4 (Dec) earnings of $0.41 per share, $0.06 better than the First Call consensus of $0.35. Co issues guidance for FY10, sees EPS of $1.80-1.85 vs. $1.90 consensus; sees FY10 revs of $235.0-240.0 mln (prior $235.0 mln) vs. $238.06 mln consensus. Co sees FY10 gross margins in hte high-fiftieth percentile. Operating margins for FY10 are expected to be in the low- to mid-twentieth percentile.

02:32

INSU Insituform Tech beats by $0.03, misses on revs; guides FY10 EPS above consensus (22.52 )

Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.38; revenues rose 55.8% year/year to $213.8 mln vs the $224.4 mln consensus. Co issues upside guidance for FY10, sees EPS of $1.45-1.55 vs. $1.33 consensus. Total contract backlog remained near historical high at $463.4 million relating to strong backlog in North American Sewer Rehabilitation and 4Q09 growth in Energy and Mining.

02:27

BVN Buenaventura SA beats by $0.09, misses on revs (32.81 )

Reports Q4 (Dec) earnings of $0.83 per share, $0.09 better than the First Call consensus of $0.74; revenues rose 57.1% year/year to $243.5 mln vs the $268 mln consensus. Buenaventura's equity production during 4Q09 was 113,827 ounces of gold, 1% higher than the 113,068 million ounces reported in 4Q08. Silver production during 4Q09 was 3.5 million ounces, a 12% decrease when compared to the 4.0 million ounces reported in 4Q08.

02:21

SQM Sociedad Quimica y Minera de Chile beats by $0.01, beats on revenue (36.47 )

Reports Q4 (Dec) earnings of $0.29 per ADR, $0.01 better than the First Call consensus of $0.28; revenues declined 2.56% year/year to 387.7 mln vs $376.47 mln two-analyst estimate.

02:15

SVNT Savient Pharma beats by $0.10, beats on revs (13.56 )

Reports Q4 (Dec) loss of $0.19 per share, $0.10 better than the First Call consensus of ($0.29); revenues fell 21.7% year/year to $0.86 mln vs the $0.45 mln consensus.

02:10

ARM ArvinMeritor prices 17.35 mln common shares at $10.50/share (11.12 )

The size of the offering was increased from the previously announced 15.0 mln shares.

02:07

TEG Integrys Energy reports EPS in-line; guides FY10 EPS above consensus (44.81 )

Reports Q4 (Dec) earnings of $0.49 per share, excluding non-recurring items, in-line with the First Call consensus of $0.49. Co reaffirms upside guidance for FY10, sees EPS of $3.09-3.37 vs. $2.97 consensus. Co anticipates FY11 EPS of $3.28-3.61.

01:59

XEC Cimarex raises quarterly dividend 33% to $0.08/share; record date is May 14,2010 (58.13 )

01:58

SA Seabridge Gold prices 2.5 mln common shares at $22.90/share (22.94 )

01:56

TESO Tesco beats by $0.10; beats on revenue (13.30 )

Reports Q4 (Dec) earnings of $0.08 per share, excluding non-recurring items, $0.10 better than the ($0.02) First Call consensus; revenues decreased 39% year/year to $85.3 mln vs $76.94 mln consensus.

01:51

CNO Conseco misses by $0.05, reports revenue in-line (5.33 )

Reports Q4 (Dec) earnings of $0.15 per share, excludes items, $0.05 worse than the First Call consensus of $0.20; revenues increased 1.1% year/year to $1.06 bln vs $1.11 bln consensus.

01:42

GTE Gran Tierra Energy reports 4Q09 EPS in-line, beats on revenue (5.51 )

Reports Q4 (Dec) earnings of $0.12 per share, in-line with $0.12 First Call consensus; revenues increased 388% year/year to $96.3 mln vs $94.72 mln two-analyst estimate. Increased revenue for the fourth quarter and year ended 2009 reflect a 259% and 248% increase in production respectively, primarily due to increased production from the continued development of the Costayaco field in the Chaza Block in Colombia, and the addition of production from Solana Resources' interests in Colombia following the acquisition on November 14, 2008. The impact of higher production for the full year was partially offset by the effect of lower oil prices.

01:35

TKC Turkcell expects negative impact from impairment charges, write-offs and legal reserves in 4Q09 (15.08 )

Co announces goodwill impairment charges in Belarus, fixed asset write offs related to operations in Belarus and Turkey and legal reserves related to the Telecommunications Authority's, Tax Authority's and Competition Board's recent decisions in Turkey, have been recognized. The total impact of these charges is expected to be approx TRY260 mln, resulting in consolidated net income of approx TRY250 mln in 4Q09. For 4Q09, it is expected that Turkcell's consolidated revenue will be approx TRY2,260 mln including the impact of the one-time charges and reimbursements based on the Regulator's decisions (TRY60 mln). The negative impact of these charges on EBITDA, after taking into account lower related costs, will be approximately TRY40 mln. Consolidated EBITDA is expected to be approx TRY680 mln in 4Q09.

18:41

GIFI Gulf Island Fab beats by $0.10, misses on revs (17.26 -0.58)

Reports Q4 (Dec) earnings of $0.32 per share, $0.10 better than the First Call consensus of $0.22; revenues fell 17.9% year/year to $70.8 mln vs the $73.5 mln consensus.

18:37

ARJ Arch Chemicals and Syngenta join forces in development of new dry-film fungicides primarily for paints and coatings (31.16 +0.50)

Co announced that it will incorporate Sporgard technology into new biocide solutions to actively combat mold and fungi in paints, coatings and other building products. Sporgard technology, an advanced mold solution developed by Syngenta, has gained wide attention with its offering of multiple mold inhibitors used to protect the world's food crops and for other end-use applications.

18:12

CSU Capital Senior Living Corp announces adoption of rights agreement to replace expiring rights agreement (4.64 -0.10)

Co announced today that its Board of Directors has unanimously adopted a new Rights Agreement to become effective upon the expiration of its existing Rights Agreement. The Company's existing Rights Agreement is set to expire by its terms at the close of business on March 9, 2010.

18:10

SIM Grupo Simec, S.A de C.V. announces 2009 preliminary results (7.65 +0.05)

Net sales decreased 45% to Ps. 19,334 mln in 2009 (including the net sales generated by the newly acquired plants of Grupo San of Ps. 3,797 mln ) compared to Ps. 35,185 mln in 2008 (including the net sales generated by the newly acquired plants of Grupo San of Ps. 2,532 million). Operating income decreased 91% to Ps. 274 mln in 2009 (including the operating income generated by the newly acquired plants of Grupo San of Ps. 266 mln) compared to Ps. 3,115 mln in 2008 (including the operating income generated by the newly acquired plants of Grupo San of Ps. 655 mln).

18:08

SLW Silver Wheaton exercises right to acquire 12.5% of life of mine silver production from the Loma de La Plata zone of the Navidad project (14.95 +0.37)

Co announce that it has elected to convert its debenture with Pan American Silver into an agreement to acquire an amount equal to 12.5% of the life of mine silver production from the Loma de La Plata zone of the Navidad project ("Navidad"). Navidad is located in the Province of Chubut, Argentina, and is one of the largest undeveloped silver deposits in the world. The Loma de La Plata zone contains ~25% of the measured and indicated silver resources within the Navidad deposit.

18:08

YSI U-Store-It beats by $0.01, beats on revs; guides Q1 EPS in-line; guides FY10 EPS in-line (6.31 -0.19)

Reports Q4 (Dec) funds from operations of $0.13 per share, $0.01 better than the First Call consensus of $0.12; revenues fell 5.8% year/year to $53.3 mln vs the $52.3 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.10-0.11 vs. $0.11 consensus. Co issues in-line guidance for FY10, sees EPS of $0.43-0.48 vs. $0.48 consensus.

18:03

CNL CLECO Corp reports EPS in-line, misses on revs; guides FY10 EPS above consensus (25.61 -0.38)

Reports Q4 (Dec) earnings of $0.21 per share, in-line with the First Call consensus of $0.21; revenues fell 20.1% year/year to $191.1 mln vs the $266.1 mln consensus. Co issues upside guidance for FY10, sees EPS of $2.05-2.15, excluding non-recurring items, vs. $2.04 consensus.

17:56

RMBS Rambus announced that its board of directors approved a new share repurchase program authorizing the repurchase of up to 12.5 mln shares (21.48 -0.09)

17:56

KAR KAR Auction Services beats by $0.18, beats on revs; guides FY10 EPS in-line (14.10 +0.55)

Reports Q4 (Dec) earnings of $0.15 per share, excluding non-recurring items, $0.18 better than the First Call consensus of ($0.03); revenues rose 5.5% year/year to $417.9 mln vs the $412.5 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.90-0.95, excluding non-recurring items, vs. $0.65 consensus.

17:52

FPO First Potomac Realty misses by $0.05 (13.34 -0.141)

Reports Q4 (Dec) funds from operations of $0.24 per share, $0.05 worse than the First Call consensus of $0.29; revenues rose 6.7% year/year to $34.9 mln vs the $33.2 mln consensus.

17:49

MCRI Monarch Casino & Resort beats by $0.01, beats on revs (7.32 -0.10)

Reports Q4 (Dec) earnings of $0.01 per share, $0.01 better than the First Call consensus of ($0.00); revenues fell 2.8% year/year to $38.3 mln vs the $30.3 mln consensus.

17:46

AGO Assured Guaranty beats by $0.12 (20.49 +0.70)

Reports Q4 (Dec) earnings of $0.91 per share, $0.12 better than the First Call consensus of $0.79. The co's December 31, 2009 book value per share was $19.12, a decrease of $2.06 per share from $21.18 at December 31, 2008. The co's decline in book value per share resulted from the significant increase in shares outstanding from 91.0 mln at December 31, 2008 to 184.2 mln at December 31, 2009 due to the June 2009 sale of 44.3 mln common shares and July 2009 issuance of 22.3 mln common shares to Dexia to complete the FSAH Acquisition, both of which were related to the FSAH Acquisition, as well as the December 2009 common equity sale of 27.5 mln shares for net proceeds of $573.8 mln.

17:40

HANS Hansen Natural: Conf call summary (40.41 +0.28) -Update-

Co continues to see positive growth in energy drink business in the US. Taking steps to address weakness for Monster in Houston market. Says while they remain the number one brand in Chicago, it has shown some weakness in the last few months so they are taking steps to address that. Market share continues to improve in the New York market. Says they are regaining share in Detroit. Believes they will continue to benefit from the reduction of costs of certain raw materials... On Q&A, co says they do not believe that the effect of the pull forward from SAP will stretch out any further than Q1... Call remains in later part of Q&A.

17:34

BMS Bemis Receives Regulatory approval for the Alcan Packaging Food Americas Acquisition (29.50 +1.30)

Co announced that the U.S. District Court for the District of Columbia has signed an order, approving Bemis' acquisition of the Food Americas operations of Alcan Packaging, a business unit of international mining group Rio Tinto plc (LON: RIO; ASX: RIO), subject to certain conditions. The Food Americas operations recorded 2009 net sales of ~$1.4 bln and operate 23 plants in North America, South America, and New Zealand. With this agreement, Bemis has satisfied the U.S. regulatory approval requirements necessary to complete the acquisition. Bemis expects the transaction to close as soon as possible.

17:30

PRE PartnerRe authorizes repurchase of up to 8 mln shares (79.46 +0.31)

Co announced that its Board of Directors has approved a new share repurchase authorization up to a total of 8 mln common shares. This replaces the prior authorization of 5 mln common shares announced by the co in September 2008.

17:27

EEP Enbridge Energy Partners announces $500 mln senior notes offering

Co announced that it has priced an offering of $500 mln principal amount of its 5.200% Notes due March 15, 2020 at an offering price of $99.959 (per $100 of principal) to yield 5.205%. The offering is scheduled to close on March 2, 2010. The Partnership intends to use the net proceeds of approximately $496 mln to repay a portion of its outstanding credit facility and commercial paper borrowings that it used to finance a portion of its capital expansion projects, including the Alberta Clipper project.

17:25

RMTI Rockwell Medical announces positive Phase IIb clinical data (8.14 -0.16)

Co summarized findings from its completed Phase IIb clinical study. The study evaluated Soluble Ferric Pyrophosphate (SFP), the Company's proprietary investigational product for continuous iron maintenance therapy in chronic hemodialysis patients. The Phase IIb study showed SFP was well-tolerated without apparent toxicity and there was overwhelming evidence of dose-dependent SFP-derived iron transfer and uptake based on iron parameters as surrogate markers of efficacy. Although one of the primary endpoints of the study, a decrease in hemoglobin of at least 1.0 g/dL, was not met, primarily due to the study design, the other primary endpoint was achieved with the demonstration of safety across all dose groups. The study also met its objective of determining the dosing of SFP for the planned Phase III trials.

17:23

SWX Southwest Gas misses by $0.05 (28.69 +0.03)

Reports Q4 (Dec) earnings of $1.03 per share, $0.05 worse than the First Call consensus of $1.08.

17:21

HON Honeywell: New civil helicopter deliveries expected to reach 3,750-4,250 between 2010 and 2014 (40.19 -0.39)

Co announced that its 12th Turbine-Powered Civil Helicopter Purchase Outlook projects flat overall deliveries of new civil use helicopters during the five-year period 2010 - 2014 compared to the 2005 - 2009 period. Co stated "Continued soft economic growth prospects in key markets, lingering tight credit conditions, high inventories of used current production models for sale, and weak new order intake are still constraining growth."

17:19

SWN Southwestern Energy changes corporate governance policies (42.99 +0.25)

SWN announced that the co has amended its bylaws and corporate governance guidelines to establish a new policy that now requires a nominee for director in an uncontested election who receives a greater number of votes "withheld" from his or her election than votes "for" such election to submit an offer of resignation.

17:17

LEA Lear cooperating fully with investigation of anitcompetitive paractices by the European Commission (68.50 -1.01)

Co reported that the it has been notified by the European Commission that it is part of an investigation into anticompetitive practices among automotive electrical and electronic component suppliers. The Commission has publicly stated that the investigation does not mean that the companies involved are guilty of anticompetitive behavior.

17:15

KOSS Koss Corp to pay quarterly dividend on schedule (5.40 -0.10)

The co announces that it will pay a quarterly dividend of $.06 per share on April 15, 2010 to shareholders of record as of March 31, 2010. "Our business and cash flow have remained on a solid footing since the discovery of a number of unauthorized transactions in December," Michael J. Koss, President and CEO, said today. "We are working diligently to restate our financial statements for the reporting periods affected by the unauthorized transactions as required in order to satisfy the Company's NASDAQ listing obligations, and its SEC reporting requirements."

17:10

GXP Great Plains Engy beats by $0.01, reports revs in-line (18.01 -0.01)

Reports Q4 (Dec) earnings of $0.11 per share, $0.01 better than the First Call consensus of $0.10; revenues rose 7.6% year/year to $477.6 mln vs the $475 mln consensus. The company was successful during 2009 in driving improved income from continuing operations through implementing new retail rates in Kansas and Missouri, improving its generating fleet performance, reducing purchased power expense, tightly controlling operations and maintenance expense, and obtaining a favorable tax settlement. These accomplishments offset the negative impacts of lower customer consumption caused by the recession, extremely mild summer weather and lower wholesale prices.

17:08

DMND Diamond Foods beats by $0.01, beats on revs, raises FY10 forecast; co also will acquire Kettle Foods (38.71 -0.53)

Reports Q2 (Jan) earnings of $0.48 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.47; revenues rose 22.3% year/year to $184.2 mln vs the $169.4 mln consensus. For FY10, co raises its EPS forecast to $1.79-1.83, excluding non-recurring items, from $1.75-1.83 vs. $1.83 consensus. Co also raises its FY10 revenue guidance to $595-610 mln from $585-605 mln and vs. the $597.3 mln consensus. Note, co is also acquiring Kettle Foods (see 17:02 comment).

17:02

PSB PS Business Parks beats by $0.04, reports revs in-line (47.75 -0.05)

Reports Q4 (Dec) funds from operations of $1.02 per share, $0.04 better than the First Call consensus of $0.98; revenues fell 4.6% year/year to $67.7 mln vs the $67.1 mln consensus.

17:00

FTI Total awards FMC Technologies $65 mln contract (56.78 +0.73)

Co announces that it has signed an agreement with Total Exploration and Production Angola for the manufacture and supply of subsea production equipment. The award has a value of approximately $65 mln in revenue to FMC Technologies. The equipment will support Total Angola's Block 17 development, located offshore Angola, West Africa.

17:00

BLK BlackRock announces 28% quarterly dividend increase to $1.00/share from $0.78/share (218.30 -0.06)

16:56

LNET LodgeNet names Frank P. Elsenbast as next CFO (6.34 -0.15)

16:53

DLLR Dollar Financial anounces repurchase of $35.2 mln of its 2.875% U.S. senior convertible notes due 2027 (22.16 +0.05)

Following this transaction, the co now has $44.8 mln of 2.875% U.S. senior convertible notes due 2027 remaining that may be first put to the co December 2012, and $120.0 mln of 3.0% U.S. senior convertible notes due 2028 that may be first put to the co April 2015.

16:46

VMW VMware to acquire certain IT management products and software expertise from EMC for up to $200 mln (47.50 +0.28)

Co to acquire certain software products and expertise from EMC's Ionix IT management business, including solutions aimed at delivering improved management and deployment of servers and applications in a virtualized data center. The all-cash transaction of up to $200 mln is expected to close in the second calendar quarter of 2010, and is not expected to have a material impact on either EMC's or VMware's previous expectations for 2010.

16:42

ORI Old Republic raises yearly cash dividend to $0.69 from $0.68 (11.25 +0.10)

16:38

LHO LaSalle Hotel beats by $0.01, reports revs in-line (19.94 +0.00)

Reports Q4 (Dec) funds from operations of $0.25 per share, $0.01 better than the First Call consensus of $0.24; revenues fell 9.7% year/year to $141.9 mln vs the $142.8 mln consensus. Based on the current economic environment and assuming that recent signs of economic recovery continue to improve, the co's 2010 outlook is as follows: Net Loss ($51.0) mln-($36.5) mln; FFO $48.5 mln - $62.5 mln; and EBITDA $113.5 mln - $128.5 mln. "Due to the uncertainty of the pace of recovery in the economy and subsequently the lodging sector we are not providing a quarterly breakdown of our outlook. However, based on the portfolio's performance the first two months of the quarter, we expect RevPAR to decline 11.0 to 13.0 percent resulting in FFO of ($1.0) million to $1.0 million and EBITDA of $11.5 million to $13.5 million for the first quarter. Both FFO and EBITDA for the quarter include the expensing of approximately $2.0 million of transaction costs related to the Sofitel acquisition. Excluding the impact of the inauguration, our outlook for our portfolio RevPAR performance in the first quarter would be a decline of 7.5 to 9.5 percent."

16:36

LYV Live Nation beats on revs (12.58 +0.07)

Reports Q4 (Dec) revenues fell 4.7% year/year to $854.3 mln vs the $810.8 mln consensus. Adjusted opearting income was $3.5 mln vs. $20.4 mln a year ago. "In the months ahead, we will concentrate our efforts on integrating our operations, building efficiencies and driving innovation across the products and services we provide to artists, fans and sponsors," said Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. "As we seek to maximize the performance of our combined operations, we are focused on eliminating redundancies and capturing at least $40 million in synergies this year. Our goals for 2010 also include further enhancing and growing our two premier e-commerce store fronts, Ticketmaster.com and LiveNation.com, continuing to test advanced ticketing technologies and distribution channels, and evaluating our options with regard to reducing our debt and strengthening our financial position."

16:33

PRGX PRG-Schultz announces acquisition of Etesius to expand Its profit discovery services (5.98 -0.02)

Co announced that it has acquired all of the outstanding capital stock of Etesius Limited, a privately-held provider of purchasing and payables technologies and spend analytics services based in Chelmsford, United Kingdom.

16:32

WR Westar Energy misses by $0.11, beats on revs; guides FY10 EPS in-line (22.04 -0.11)

Reports Q4 (Dec) earnings of $0.10 per share, $0.11 worse than the First Call consensus of $0.21; revenues rose 8.4% year/year to $440.1 mln vs the $410.7 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.65-$1.80 vs. $1.72 consensus.

16:30

CEC CEC Entertainment misses by $0.01, reports revs in-line; guides FY10 EPS below consensus (35.16 -0.36)

Reports Q4 (Dec) earnings of $0.24 per share, $0.01 worse than the First Call consensus of $0.25; revenues rose 7.2% year/year to $187.6 mln vs the $185.9 mln consensus. Co issues downside guidance for FY10, sees EPS of $2.68-2.78 vs. $2.82 consensus, with comps up 1-2%. Co will open 4 company owned stores. Comparable store sales for the fourth quarter of 2009 decreased 2.0%.

16:27

MRX Medicis beats by $0.08, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY10 EPS below consensus, revs in-line (23.23 +0.18)

Reports Q4 (Dec) earnings of $0.68 per share, $0.08 better than the First Call consensus of $0.60; revenues rose 31.6% year/year to $179 mln vs the $169.8 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.39-0.43, excluding non-recurring items, vs. $0.45 consensus; sees Q1 revs of $160-165 mln vs. $159.25 mln consensus. Co issues mixed guidance for FY10, sees EPS of $1.80-1.95, excluding non-recurring items, vs. $1.97 consensus; sees FY10 revs of $670-690 mln vs. $683.87 mln consensus.

16:24

FOLD Amicus Therapeutics announces $18.5 million registered direct offering of common stock (3.51 -0.18)

Co announces it has entered into definitive agreements dated February 25, 2010 with a select group of institutional investors to sell 4.95 million shares of its common stock and warrants to purchase 1.85 million shares of its common stock in a "registered direct" offering. The shares of common stock and warrants are being offered in units consisting of one share of common stock and one warrant to purchase 0.375 shares of common stock at a price of $3.74 per unit. The warrants have a term of four years and are exercisable any time on or after the six month anniversary of the date they are issued, at an exercise price of $4.43 per share. The gross proceeds of the offering are expected to be approximately $18.5 million to Amicus, before deducting placement agent fees and estimated offering expenses. Leerink Swann LLC served as sole placement agent for the offering.

16:22

OVTI OmniVision beats by $0.01, beats on revs; guides Q4 EPS in-line, revs in-line (14.22 +0.08)

Reports Q3 (Jan) earnings of $0.20 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.19; revenues fell 14.4% year/year to $156.9 mln vs the $154.8 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.11-0.21, excluding non-recurring items, vs. $0.16 consensus; sees Q4 revs of $145-160 mln vs. $157.61 mln consensus. Gross margin for the third quarter of fiscal 2010 was 24.6% as compared to 24.0% for the second quarter of fiscal 2010 and 22.4% for the third quarter of fiscal 2009. The sequential increase in gross margin reflected a slightly improved product mix and a reduced inventory valuation exposure due to the improving business outlook.

16:22

WTW Weight Watchers beats by $0.05, beats on revs; guides FY10 EPS below consensus (30.15 -0.10)

Reports Q4 (Dec) earnings of $0.57 per share, $0.05 better than the First Call consensus of $0.52; revenues fell 10.1% year/year to $311.3 mln vs the $303.9 mln consensus. Co issues downside guidance for FY10, sees EPS of $2.25-2.50 vs. $2.80 consensus. "In light of the difficult economic environment, I am gratified that we delivered full year 2009 results well within our original earnings guidance. As I look forward, I expect 2010 to remain challenging. While we will continue to aggressively manage our operations to maximize near-term results, we will also continue to invest in initiatives to modernize our offerings to drive long-term growth in our meetings business."

16:21

RWT Redwood Trust beats by $0.18 (13.97 -0.01)

Reports Q4 (Dec) earnings of $0.51 per share, $0.18 better than the First Call consensus of $0.33. GAAP book value at year end was $12.50 per share, an increase of $0.82 per share, or 7%, from the end of Q3 of 2009, and management's estimate of non-GAAP economic value increased to $13.03 per share, up $0.75 per share, or 6%, from the end of Q3 of 2009.

16:21

DK Delek US Holdings announces $300 mln revolving credit facility (7.50 +0.03)

16:20

NAVR Navarre's FUNimation Entertainment acquires Toei Animation's Dragon Ball Z Kai (1.93 -0.01)

Co announced that its wholly-owned subsidiary FUNimation Entertainment and Japanese powerhouse producer Toei Animation Co., Ltd. have entered into a multi-year agreement for the U.S. anime leader to distribute the latest chapter of the genre-establishing Dragon Ball franchise, "Dragon Ball Z Kai."

16:20

GPS Gap Inc to Further Global Expansion by Bringing Gap and Banana Republic to Italy in 2010 (20.39 +0.10) -Update-

Building off its strong financial performance in 2009, Gap Inc. (GPS) announced that it would enter the Italian market in 2010 as one of its long term growth investments. Expanding on the international appeal of its London and Paris stores, the company plans to open Gap and Banana Republic flagship stores next door to each other in Milan's leading shopping area on the Corso Vittorio Emanuele in late 2010 with additional openings in other Italian cities such as Rome to follow in 2011. As a globally renowned fashion and tourist centre, Milan offers a strong initial market for both brands. The company also announced today plans to bring an online shopping site for Gap and Banana Republic to the United Kingdom, which will also serve online shoppers in nine other European countries, including Italy.

16:19

FSC Fifth Street Finance promotes Bernard Berman to President (11.24 +0.03) -Update-

Co announces that Bernard Berman has been promoted to President and Richard Dutkiewicz has been added to the Board of Directors, Audit Committee and Valuation Committee.

16:18

GPS Gap plans to increase dividend 18% to $0.40/share from $0.34/share (20.60 +0.31) -Update-

16:18

KOPN Kopin reports Q4 results; issues in-line guidance for FY10 (4.03 -0.02)

Kopin reports Q4 earnings of $0.08 vs $0.03 First Call consensus; revs increased 14% year/year to $33 mln vs $27.50 mln First Call consensus. Co issues guidance, sees FY10 revs of $120 mln to $130 mln vs $130 mln First Call consensus. "Anchored by a strong balance sheet, manufacturing know-how and technology expertise, we are well positioned to generate sustained growth,"..."Innovation is an integral part of our history and strategy. While other companies have struggled during the economic downturn, we have capitalized on the opportunity by expanding our technology and product portfolios. We have continued to enhance our manufacturing capabilities and capacity, add new management and scientific talents, patent new technologies and develop the advanced new display systems and III-V structures that we believe will become growth engines for the Company in the coming years."

16:18

ATHN AthenaHealth Postpones Fourth Quarter and Fiscal Year 2009 Earnings Release (43.51 +0.49)

Co announces that it will postpone the release of its financial results for the fourth quarter of 2009 and the year ended December 31, 2009, and its previously announced conference call to discuss these results originally scheduled for February 26, 2010, in order to allow additional time to complete the year-end audit and conduct an internal accounting policy review related to the timing of amortization for deferred implementation revenue. The Company is postponing the release of its financial results for Q4 and 2009 in connection with an internal review, initiated by the Company, of its accounting policy for the amortization period for deferred implementation revenue... The Company records implementation fees as deferred revenue until the implementation service is complete and ongoing services commence, at which time the fees are amortized, or recognized ratably, on a monthly basis over the "expected performance period". Athenahealth's clients typically purchase one-year contracts that renew automatically and, to date, the Company has determined the expected performance period to be equal to the initial contract period. Management is now reviewing whether the period of amortization for deferred implementation revenue should be extended to a longer expected performance period. If the Company determines that a change is necessary, and the financial impact is deemed material, the Company would restate prior year financial statements. Any such change related to the amortization period for deferred implementation revenue would not have an impact on the Company's cash flow from operations, as non-refundable implementation revenues are billed and paid up front, but it would impact reported implementation revenue from operations on a period to period basis, and the corresponding net income/(loss) in each period

16:18

CPNO Copano Energy beats by $0.03, misses on revs (23.69 -0.01)

Reports Q4 (Dec) earnings of $0.16 per share, $0.03 better than the First Call consensus of $0.13; revenues rose 1.0% year/year to $249.3 mln vs the $256.8 mln consensus. We remain encouraged by our expansion projects in north and south Texas as a result of increased producer activity around our assets and expect these projects to provide growth in our distributable cash flow in 2010."

16:17

XETA Xeta Tech reports JanQ results (2.89 -0.03)

Co reports Q1 (Jan) EPS of $0.06, revenue rose 24% yr/yr to $23 mln. There are no analyst estimates.

16:17

IDIX Idenix Pharma reports Q4 loss per share of ($0.19) vs. ($0.19) First Call consensus; revenue was $3 mln vs. $3.2 mln consensus (2.78 -0.07)

The company expects that its current cash, cash equivalents and marketable securities can fund operations through at least the next twelve months. This guidance assumes no milestone payments, license fees, reimbursement for development programs and no financing activities.

16:16

DITC Ditech reports Q3 revs of $4.3 mln vs. $4.9 mln a year ago; EPS of ($0.17) vs. ($0.15) a year ago (1.30 -0.01)

Based upon expected bookings, timing of shipments and deferred revenues, Ditech Networks expects fourth quarter of fiscal 2010 revenue to approximate the $7 million to $7.5 million level. As a function of Ditech's shipments, bookings pipeline, customer and product mix and opportunities, Ditech Networks expects gross margins to approximate 55 to 58%. Ditech Networks expects operating expenses, including an estimated $0.4 million of stock-based compensation and acquisition related expenses, to be in the range of $5.7 million to $5.9 million.

16:15

LO Lorillard announces a $250 mln share repurchase program (74.54 -0.20)

16:15

MHK Mohawk beats by $0.22, beats on revs; guides Q1 EPS in-line (47.66 +0.30)

Reports Q4 (Dec) earnings of $0.56 per share, excluding $0.27 in non-recurring items, $0.22 better than the First Call consensus of $0.34; revenues fell 9.3% year/year to $1.35 bln vs the $1.28 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.10-0.20 vs. $0.13 consensus. Co said, "The first quarter is seasonally the slowest quarter of the year. The residential category should improve during the year while the commercial category still faces significant headwinds. We are implementing a price increase on carpet and wood products to offset rising material costs but the lag in implementation will negatively impact the first quarter. Interest costs this year will be higher primarily due to rates increasing from our new agreement... In Q1 of 2010, we are implementing a price increase to recover raw material cost inflation."

16:14

COGT Cogent misses by $0.01, misses on revs (10.44 +0.09)

Reports Q4 (Dec) earnings of $0.11 per share, $0.01 worse than the First Call consensus of $0.12; revenues fell 5.2% year/year to $37.9 mln vs the $39.5 mln consensus.

16:13

FLR Fluor misses by $0.06, reports revs in-line; lowers FY10 EPS guidance (45.05 )

Reports Q4 (Dec) earnings of $0.82 per share, $0.06 worse than the First Call consensus of $0.88; revenues fell 9.8% year/year to $5.48 bln vs the $5.48 bln consensus, mainly due to lower Oil & Gas act Fourth quarter new awards were $3.3 billion including awards of $1.6 billion in Industrial & Infrastructure and $912 million in Oil & Gas, compared awards totaling $4.2 billion in the same quarter of 2008. Co lowers guidance for FY10, sees EPS of $2.80-3.20, down from $3.20-3.60 vs. the $3.42 consensus, based on a detailed evaluation of the projected impact on affected business segments. The co is beginning to see positive signs of a recovery, as evidenced by the amount of new front-end activity, and expects capital investment levels to gradually rebound as the global economy improves. However, relatively lower new orders in recent quarters and continuing delays in the full release of major projects is expected to put pressure on 2010 earnings targets. Full year new awards were $18.5 billion, down from record bookings of $25.1 billion a year ago, mainly due to a significant decline in Oil & Gas awards during 2009. Year-end backlog was $26.8 billion, down 19% YoY. While there were no material cancellations in the fourth quarter, backlog was impacted by approximately $5.3 billion from cancellations and scope reductions since the beginning of 2009.

16:13

BPZ BPZ Energy terminates negotiations for senior credit facility (7.86 +0.34)

Co announced that its subsidiary, BPZ Exploracion & Produccion S.R.L, has elected to terminate negotiations on the previously announced $55 mln reserve based credit facility being arranged by Natixis. This does not affect the previously closed and funded $15 mln International Finance Corporation (IFC) facility. BPZ will evaluate its future secured credit requirements and consider all alternatives.

16:13

NVTL Novatel Wireless reports Q4 (Dec) results, misses on revs; guides Q1 below consensus (7.35 +0.23)

Reports Q4 (Dec) earnings of $0.03 per share, may not be comparable to the First Call consensus of $0.07; revenues rose 36.1% year/year to $88.6 mln vs the $91 mln consensus. Co issues downside guidance for Q1, sees EPS of ($0.14) vs. $0.05 consensus; sees Q1 revs of $70 mln vs. $83.76 mln consensus. The Company currently expects first quarter 2010 revenues to be approximately flat compared to the year ago period and lower than the fourth quarter of 2009, with decreased revenues attributed to core products due to lower average selling prices (ASP) and lower seasonal sales volumes. The Company currently expects sales in the first quarter of 2010 from its MiFi Intelligent Mobile Hotspot products to increase compared to the fourth quarter of 2009, despite the impact of a $3 million reduction in revenues related to MiFi marketing and promotional campaigns with certain operator customers. "While revenues decreased from the third quarter, they increased 36% year-over-year due to steady demand for our core USB modems and revolutionary MiFi Intelligent Mobile Hotspot products, which have now launched commercially with 17 operators around the globe... Fourth quarter revenues hit the mid-point of our guidance and GAAP and non-GAAP gross margins of 26.2% and 26.4%, respectively, were impacted by product mix."

16:12

RST Rosetta Stone beats by $0.23, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY10 EPS below consensus, revs above consensus (17.3.4 -0.20)

Reports Q4 (Dec) earnings of $0.61 per share, $0.23 better than the First Call consensus of $0.38; revenues rose 18.1% year/year to $78.3 mln vs the $74.3 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.07-$0.09 vs. $0.12 consensus; sees Q1 revs of $58-$60 mln vs. $56.22 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.90-$1.00 vs. $1.16 consensus; sees FY10 revs of $286-$299 mln vs. $279.62 mln consensus.

16:11

ORCC Online Resources misses by $0.03, beats on revs; guides Q1 EPS below consensus, revs below consensus (4.20 -0.18)

Reports Q4 (Dec) earnings of $0.06 per share, $0.03 worse than the First Call consensus of $0.09; revenues rose 2.7% year/year to $38.2 mln vs the $37.2 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.04-0.06 vs. $0.08 consensus; sees Q1 revs of $35.5-37.5 mln vs. $38.51 mln consensus.

16:10

ERES eResearchTech beats by $0.01, reports revs in-line; guides FY10 EPS in-line, revs in-line (5.86 -0.01)

Reports Q4 (Dec) earnings of $0.07 per share, $0.01 better than the First Call consensus of $0.06; revenues fell 23.3% year/year to $23.1 mln vs the $23.2 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.28-0.34 vs. $0.30 consensus; sees FY10 revs of $98-105 mln vs. $104.11 mln consensus. "The impact of the low level of Thorough QT bookings in 2009 and the slower ramp up of newly booked business will continue to have a negative impact in the first half of the year. Due to these factors, ERT anticipates net revenues in the first quarter of 2010 above $20 million but below that reported in the fourth quarter of 2009, resulting in lower diluted net income per share compared to that reported in the fourth quarter of 2009. We anticipate revenue growth in the second half of 2010 as the newly booked business converts into revenue."

16:10

SONS Sonus Networks reports Q4 EPS of $0.04 vs. breakeven consensus; revenue decreased 23% y/y to $68.7 mln vs. $60.7 mln consensus (2.26 +0.00)

Company issues guidance for FY10. Revenue: flat to low single digit percentage revenue growth on an annual basis as compared to fiscal 2009; Gross margin: within longer term range of 58% to 62% on annual basis; Total operating expenses: in the range of $142 -$146 mln.

16:10

SURW SureWest Comm beats by $0.02, reports revs in-line (8.40 -0.24)

Reports Q4 (Dec) net of breakeven, $0.02 better than the First Call consensus of ($0.02); revenues rose 2.4% year/year to $60.3 mln vs the $60.3 mln consensus. Co said, "Looking ahead, we expect to continue growing our Broadband segment, focusing resources on expanding our business services customer base and increasing residential ARPU and the number of products our customers subscribe to (RGUs). Our competition is not standing still and we are seeing a significant response; however, they can only compete with us on price."

16:09

WYNN Wynn Resorts misses by $0.05, beats on revs (62.80 -0.55)

Reports Q4 (Dec) earnings of $0.08 per share, excluding non-recurring items, $0.05 worse than the First Call consensus of $0.13; revenues rose 31.7% year/year to $809.3 mln vs the $784.7 mln consensus. Table games drop in the mass market category was $512.2 million dur the period, a 5.1% increase from $487.2 million in the fourth quarter of 2008. Mass market table games win percentage (calculated before discounts) of 22.9% was above our expected range of 19% to 21% and higher than the 19.5% experienced in the fourth quarter of 2008. Slot machine handle increased 9.4% to $843.5 million while win decreased 2.7% compared to the fourth quarter of 2008 due to a decrease in hold percentage from 5.2% last year to 4.6% in 2009. Win per unit per day was 1.5% higher at $353 compared to $348 in the fourth quarter 2008 as we reconfigured the slot floor and removed approximately 50 machines. Wynn Macau achieved an Average Daily Rate (ADR) of $271 for the fourth quarter of 2009, compared to $273 in the 2008 quarter. The property's occupancy was 90.6%, compared to 86.8% during the prior year period, generating revenue per available room (REVPAR) of $246 in the 2009 period, 3.6% above 2008 levels of $237.

16:09

SD SandRidge Energy misses by $0.07, misses on revs (8.40 +0.34)

Reports Q4 (Dec) earnings of $0.14 per share, $0.07 worse than the First Call consensus of $0.21; revenues fell 18.7% year/year to $163.1 mln vs the $207.7 mln consensus. "We are now poised to grow through the development of both oil and gas properties and expect our percentage of revenues from oil sales to continue to increase in the future. Our earnings potential is strong with over 80% of our estimated 2010 production hedged at $9.15 per Mcfe. We have hedged over $1.1 billion of oil revenues through 2012. We are also excited about the exploration opportunities that lie ahead in the WTO and have spud two wells to test two distinct structures that have been identified by 3-D seismic."

16:08

DECK Deckers Outdoor beats by $0.94, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY10 EPS and revs above consensus (106.16 +4.13)

Reports Q4 (Dec) earnings of $5.22 per share, $0.94 better than the First Call consensus of $4.28; revenues rose 14.7% year/year to $348 mln vs the $320.9 mln consensus. Co issues guidance for Q1, sees EPS down ~6% (which calc to $0.87 vs. $1.01 consensus); sees Q1 revs increasing 7% y/y (which calc to $143.63 vs. $143.37 mln consensus). Co issues upside guidance for FY10, sees EPS increasing 5% (which calc to $9.39 vs. $8.38 consensus); sees FY10 revs growth of ~11% (which calc to $902.65 vs. $841.25 mln consensus). Co reports Q4 gross margin of 49.8% vs 46.9% consensus; reported 42.9% last qtr and 45.3% a year ago. Co guided for Q4 gross margin of 47.0%Co reports Q4 SG&A as a percentage of sales of 19.5% vs co's prior guidance of ~19.3%. Co reported SG&A as a percentage of sales of 19.6% last qtr and 17.4% a year ago.16:08

DRYS DryShips reports EPS in-line, beats on revs (5.72 +0.32)

Reports Q4 (Dec) earnings of $0.23 per share, excluding non-recurring items, in-line with the First Call consensus of $0.23; revenues rose 12.6% year/year to $217.9 mln vs the $215.7 mln consensus.

16:07

COGT Cogent announces contract with the United Kingdom National Policing Improvement Agency (10.44 +0.09)

Co announces that it has been selected as the sole winner for all six components of the U.K. National MobileID service. This award followed a rigorous year long competitive process conducted by NPIA, involving multiple vendors to ensure that the best solution, the best devices, and the most qualified vendor would bring the best value to the UK police forces. The initial award is valued at approximately $25 million over a three year term through April 2013, with the option of two, one year extensions.

16:07

LEAP Leap Wireless misses by $0.17, misses on revs (14.79 +0.19)

Reports Q4 (Dec) loss of $0.82 per share, $0.17 worse than the First Call consensus of ($0.65); revenues rose 30.7% year/year to $599.3 mln vs the $633.7 mln consensus. "We believe our competitive position remains attractive as we move into 2010 and that the steps we have taken and plan to take will provide us with flexibility and a strong platform for continued customer growth in the wireless marketplace. As we move through the first quarter, we are experiencing the typical seasonality of the business and recently gained our five millionth customer, including the 600 thousandth customer for our Cricket Broadband service. Although we expect churn to remain higher than historical levels in the near-term, we look forward to improved performance over the long-term due to expected improvements in customer tenure in our newly-launched markets, potential lower unemployment levels among our customer base and the impact of new enhancements we are introducing."

16:06

GXDX Genoptix announces national three-year agreement With Aetna (32.30 -0.18)

Co announced that it will participate in Aetna's (AET) national provider network to offer specialized laboratory and comprehensive diagnostic services designed to optimize the care of patients suffering from hematomalignancies, or cancers of the blood and bone marrow, including leukemia and lymphoma. The three-year agreement with Aetna, one of the nation's largest health benefits companies serving 19 mln medical members, is effective April 1, 2010. Additional terms of the contract were not disclosed.

16:05

ALNY Alnylam Pharma beats by $0.11, beats on revs (17.97 +0.03)

Reports Q4 (Dec) loss of $0.19 per share, $0.11 better than the First Call consensus of ($0.30); revenues rose 9.0% year/year to $26.6 mln vs the $25.4 mln consensus. Alnylam expects that its cash, cash equivalents and total marketable securities balance will be greater than $325 million at December 31, 2010, which excludes the potential payment from Novartis should they decide to execute their adoption license later this year.

16:05

CSA Cogdell Spencer beats by $0.03; guides FY10 FFO below consensus (6.50 +0.02)

Reports Q4 (Dec) funds from operations of $0.16 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.13. Co issues downside guidance for FY10, sees FFO of $0.42-0.50 vs. $0.54 consensus.

16:05

VLCM Volcom beats by $0.10, beats on revs; guides Q1 EPS in-line, revs above consensus (15.66 +0.19)

Reports Q4 (Dec) earnings of $0.14 per share, $0.10 better than the First Call consensus of $0.04; revenues fell 7.8% year/year to $64.2 mln vs the $62.8 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.16-0.19 vs. $0.17 consensus; sees Q1 revs of $71-74 mln vs. $69.14 mln consensus. Total revenues in the company's U.S. segment, which includes revenues from the U.S., Canada, Japan and most other international territories outside of Europe, as well as the company's branded retail stores, were $46.0 million, compared with $54.9 million in the prior-year period. Total revenues in the company's Europe segment were $12.9 million, compared with $10.9 million in the same period in 2008. Total revenues in the company's Electric segment were $5.3 million, compared with $3.8 million in 2008.

16:04

FSC Fifth Street Finance receives long term financing commitment of up to $150 mln (11.24 +0.03)

Co announced that it has received a financing commitment from ING Capital LLC ("ING") for a syndicated three year revolving credit facility for up to the amount of $150 mln, with a targeted initial close of $65 mln. The facility is a two year secured revolving credit facility with a one year term out, and will bear interest at a rate of LIBOR plus 4.5% per annum, with no floor.

16:04

CROX Crocs beats by $0.09, beats on revs; guides Q1 EPS in-line, revs above consensus (7.79 +0.18)

Reports Q4 (Dec) loss of $0.04 per share, excluding non-recurring items, $0.09 better than the First Call consensus of ($0.13); revenues rose 7.9% year/year to $136 mln vs the $117.2 mln consensus. Company's cash and cash equivalents as of December 31, 2009 increased 49.5% to $77.3 million compared to $51.7 million at December 31, 2008. The Company had no bank debt at December 31, 2009. Inventory decreased 34.8% to $93.3 million at December 31, 2009 from $143.2 million at December 31, 2008 resulting in inventory turnover of 2.9 times. The Company ended the fourth quarter of 2009 with accounts receivable of $50.5 million compared to $35.3 million at December 31, 2008 as a result of higher sales in the quarter. Days sales outstanding increased from 25.8 days for the three months ended December 31, 2008 to 34.1 days for the three months ended December 31, 2009. Co issues mixed guidance for Q1, sees EPS of ~0.00 vs. ($0.01) consensus; sees Q1 revs of $155-160 mln vs. $148.19 mln consensus.

16:04

GPS Gap Inc beats by $0.01, reports revs in-line (20.39 +0.10)

Reports Q4 (Jan) earnings of $0.51 per share, $0.01 better than the First Call consensus of $0.50; revenues rose 3.8% year/year to $4.24 bln vs the $4.23 bln consensus. The Board increases annual dividend to $0.40 from $0.34 and authorizes an additional $1 billion share repurchase program. "Led largely by our progress at Old Navy, we ended 2009 with a much-improved economic model and strong balance sheet," said Glenn Murphy, chairman and chief executive officer of Gap Inc. "We're now ready for our business to grow and move forward, as we aim to gain market share in North America and make a series of investments to bring our well-known brands to more customers around the world."

16:04

PMFG PMFG Inc announces offering of common stock (15.84 -0.14)

Co announced that it has commenced a public offering of its common stock. All shares will be offered by the Company. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

16:03

ESL Esterline Techs misses by $0.11, beats on revs; reaffirms FY10 EPS in-line (41.46 +0.05)

Reports Q1 (Jan) earnings of $0.42 per share, $0.11 worse than the First Call consensus of $0.53; revenues rose 9.6% year/year to $339.4 mln vs the $325.1 mln consensus. Co reaffirms in-line guidance for FY10, sees EPS of $3.20-3.45 vs. $3.37 consensus.

16:03

SCIL Scientific Learning reports Q4 EPS of $0.08 vs. $0.05 two analyst estimate; revenue increased 26% y/y to $15.8 mln vs. $13.4 mln estimate (5.11 +0.02)

16:03

BAGL Einstein Noah reports Q4 (Dec) results, revs in-line (11.25 -0.31)

Reports Q4 (Dec) earnings of $0.17 per share, may not be comparable to the First Call consensus of $0.23; revenues fell 0.2% year/year to $103.7 mln vs the $103.7 mln consensus. In 2010, the co anticipates the opening of 10-12 new Einstein Bros. Bagels company-owned restaurants, 12-16 new Einstein Bros. Bagels franchised restaurants, and 35-45 Einstein Bros. Bagels licensed restaurants. The Company currently has 14 signed development agreements for Einstein Bros. Bagels franchises. This coupled with the efforts to sign additional development agreements in 2010 is expected to ultimately yield an ending pipeline of 90-100 additional franchise openings. The Company has secured contract pricing on approximately 50% of all major agricultural commodities that will result in favorable prices compared to 2009, with an option to benefit from further reductions in the market.

16:03

CXDC China XD Plastics Announces Production Capacity Increases to 100,000 Tons (7.91 -0.17)

Co announced that it has expanded its modified plastics production capacity to 100,000 tons. "We are pleased to announce the completion of another stage of our capacity expansion plan. With the backdrop of record growth in Chinese auto market in 2009 and government's commitment to continue generating domestic demand for automobiles, we believe the outlook for our business remains positive," commented by Mr. Jie Han, Chairman of the Board and CEO of China XD Plastics. "We are confident in our ability to quickly bring these new facilities online, ramping up production to continue to grow our top and bottom lines. While Northeastern China is still our primary target market in the short term, the newly added production lines will facilitate our penetration into Northern China. Our aggressive expansion plans focuses on the growth of high-end and high value added modified plastics for automotive applications as they offer attractive margins and at the same time, help optimize our product mix."

16:02

UHS Universal Health beats by $0.14, reports revs in-line; guides FY10 EPS in-line, revs in-line (31.01 +0.66)

Reports Q4 (Dec) earnings of $0.62 per share, $0.14 better than the First Call consensus of $0.48; revenues rose 4.3% year/year to $1.29 bln vs the $1.29 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.45-2.65 vs. $2.53 consensus; sees FY10 revs of $5.55 bln vs. $5.45 bln consensus.

16:01

CROX Crocs names John McCarvel President and CEO (7.85 +0.24)

16:01

VNDA Vanda Pharma announces U.S. patent allowance for a long-acting injectable formulation of fanapt in the U.S. (10.29 -0.08)

Co announced that the U.S. Patent and Trademark Office has issued a notice of allowance for its patent application of a microsphere, long-acting injectable formulation of its antipsychotic product, Fanapt (iloperidone). When issued, this U.S. patent will expire on October 30, 2022, and in addition, the U.S. Patent and Trademark Office has granted a patent term adjustment of 300 days, leading to an effective expiration date of August 26, 2023.

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