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

Mar 02, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 02-Mar-10 09:00 ET

08:45

WU Western Union announces refinancing of debt through exchange offer (16.00 )

Co announced that it has commenced an exchange offer to refinance a portion of the co's outstanding debt securities. The exchange offer will expire at 12:00 midnight, New York City time, on March 29, 2010, unless extended. The co is offering to exchange up to $500 mln aggregate principal amount of its 5.40% notes due 2011 for a new series of notes due April 1, 2020. The coupon on the new notes is expected to be determined on March 25, 2010, and will be calculated by adding the yield of the 10-year Treasury and 1.35%. consummation of the exchange offer is conditioned on, among other things, at least $250 mln aggregate principal amount of the old notes being validly tendered for exchange and not validly withdrawn. If more than $500 mln of old notes are validly tendered and not validly withdrawn, the company will only accept for exchange old notes in an aggregate principal amount up to $500 mln on a pro rata basis among the tendering holders.

08:45

IPXL Impax Labs receives final FDA approval for generic FLOMAX 0.4mg capsules and immediately commences shipment (15.51 )

Co announces that the FDA has granted final approval of its Abbreviated New Drug Application for the generic version of FLOMAX 0.4mg capsules. The co also announced that it is commencing shipment through Global Pharmaceuticals, Impax's generic division.

08:40

GEO Geo comments on cancellation of CAR 9 (2010 )

Co commented on the cancellation by the Federal Bureau of Prisons of the Criminal Alien Requirement 9 Solicitation ("CAR 9"). GEO had submitted its expanded 1,755-bed North Lake Correctional Facility in Baldwin, Michigan under the CAR 9 Solicitation. GEO had undertaken a 1,225-bed expansion of the existing 530-bed Facility, and the expansion is expected to be completed in 2010.

08:37

DOW Dow Chemical announces sale of Styron division to Bain Capital for $1.63 bln (28.69 )

DOW and Bain Capital Partners announced that they have signed a definitive agreement under which Dow's Styron Division will be divested to an affiliate of Bain Capital for $1.63 bln. As part of the transaction, Dow has an option to receive up to 15% of the equity of Styron as part of the sale consideration. Additionally, the transaction includes several long-term supply, service and purchase agreements which will generate substantial value for both Dow and Styron. With the purchase price and the significant long term contracts, Dow will be able to substantially deleverage and achieve an attractive value for the Styron divestment. The transaction is expected to close by August 2010, subject to completion of customary conditions and regulatory approvals.

08:37

LHO LaSalle Hotel prices 5.35 mln share common stock offering at $18.50 (19.11 )

Co announces that it has priced a public offering of 5,350,000 common shares at a price of $18.50 per share. All of the shares are being offered by the co. The underwriters have been granted a 30-day option to purchase up to an additional 802,500 common shares to cover overallotments, if any. The co intends to use the net proceeds of this offering, which are expected to be approximately $95.0 million (without giving effect to the exercise of the underwriters' overallotment option), to reduce amounts outstanding under its senior unsecured credit facility and under the unsecured credit facility of the Company's taxable REIT subsidiary, LaSalle Hotel Lessee, Inc., and for general corporate purposes.

08:36

On The Wires

Agilysys (AGYS) announces that it has achieved certification to become an Authorized seller of IBM Information Management, Lotus, Rational, Tivoli and WebSphere software by meeting the skills requirements of the new IBM Software Value Plus initiative.... Royal Philips Electronics (PHG) announces the collaboration with Microsoft (MSFT) to build on Philips Healthcare's foundation of healthcare informatics and advanced clinical decision support offerings that drive efficiency and effectiveness at the point of care... Checkpoint Systems (CKP) announces that it has shipped more than 1.5 bln Enhanced Performance labels for retailers' electronic article surveillance systems... Macy's (M) and Kenneth Cole Productions (KCP) will launch a new, exclusive collection of men's sportswear in fall 2010. Under their strategic alliance agreement, Macy's will be the sole department store retailer of the new Kenneth Cole REACTION men's sportswear line within the United States and its territories... Tenneco (TEN) announces that it has entered into a joint venture with Changchun FAW Sihuan Group Ltd., a subsidiary of FAW Group Corporation, to supply emission control components and systems for passenger and commercial vehicles. The new JV will be based in Changchun... Trina Solar Limited (TSL) announces the establishment of its European regional headquarters in Zurich, Switzerland, which commenced initial operations as of January 2010... Optibase (OBAS) announces that its subsidiary, Optibase RE 1 SARL, entered into an Option Agreement with a Cypriot company, Chessell Holdings Limited. Under the Option Agreement, Optibase RE 1 SARL granted Chessell Holdings an option to purchase twenty percent of the share capital of Optibase RE 1 SARL. Chessell Holdings undertook to pay a purchase price for the option of CHF 315,000 for the option... ePlus (PLUS) announces that its wholly owned subsidiary, ePlus Technology, has achieved the renewal of its Advanced Routing and Switching Specialization from Cisco... Western Pacific Resources announces that it has entered into an agreement with Newmont Mining Corporation (NEM) to receive historical proprietary data for the Mineral Gulch property, formerly known as the Black Pine Mine. Western Pacific staked the project in late 2009 and now controls 100% of the project area... Airgas (ARG) announces that it has signed a supply agreement with Utilities Service Alliance. The five-year agreement has estimated annual sales of $6 mln.

08:34

NDAQ NASDAQ OMX announces approval of $300 mln share repurchase program (18.80 )

Co announced today that its Board of Directors has approved a share repurchase program, authorizing NASDAQ OMX to repurchase in the aggregate up to $300 mln of its outstanding common stock. Purchases by NASDAQ OMX under this program may be made from time to time at prevailing market prices in open market purchases, privately-negotiated transactions, block purchase techniques or otherwise, as determined by NASDAQ OMX's management. The purchases will be funded from existing cash balances. Further demonstrating its commitment to paying down existing debt, NASDAQ OMX also intends to prepay an additional $100 mln in amortization payments on its term loan during 2010.

08:32

ICE IntercontinentalExchange reports Feb volume metrics (108.09 )

Co reported record volume and average daily volume (ADV) across its futures exchanges in February. Total futures volume in February 2010 was 26 million contracts, surpassing by 6% the previous record of 24.5 million contracts set in September 2009. ADV increased 39% from February 2009 to 1,370,090 contracts, representing ICE's second consecutive monthly ADV record. ICE Futures Europe established a monthly volume record of 16,969,873 contacts, and its second consecutive monthly ADV record of 893,151 contracts, up 46% from February 2009. ICE Futures U.S. also established record monthly ADV of 458,107 contracts, an increase of 29% over February 2009.

08:31

TIXC Tix Corp has acquired the assets of All Access Entertainment; co believes the acquisition will be accretive (1.18 )

Co announces it has acquired the assets of All Access Entertainment, a discount ticket service with five facilities in Las Vegas. "We believe the acquisition will be accretive, adding additional cash flow to our discount ticketing division, which increased gross ticket sales last year by approximately 44% to nearly $80 million dollars. We believe this growth trend will continue this year by approximately 25% to nearly $100 million dollars of gross ticket sales."

08:31

PKT Procera Networks obtained commitments from investors to purchase ~18 mln shares of its common stock at a price of $0.40 per share (0.49 )

08:24

KWIC Kennedy-Wilson sells over $7.3 mln in downtown Austin auction (36.55 )

Co announced today that it offered and sold 31 units of Sabine on Fifth, a condominium project located in downtown Austin, through an auction it conducted on Sunday, February 28th at the Hilton Austin Downtown.

08:20

CADC China Advanced Construction Materials Group awarded new $1.55 mln high-speed railway contract (4.75 )

Co announced that it has been awarded a new contract totaling $1.55 million for its ready-mix concrete services for one section of the PanJin to YingKou high-speed railway in Liaoning Province. The project will require 200,000 cubic meters of concrete and should be completed in less than two years.

08:16

TRS Trimas reports Q4 results; issues FY10 guidance

Trimas reports Q4 earnings of $0.11 vs $0.10 First Call consensus; revs fell 10% year/year to $191.1 mln vs $180.00 mln First Call consensus. Co issues FY10 guidance, expects EPS to exceed $0.60 vs $0.61 First Call consensus, sees 2010 sales of $835.85 mln to $859.96 mln vs $846.20 mln First Call consensus.

08:11

SAI SAIC Correction: Co receives $485 mln 5 year contract from US Army (19.51 )

Earlier we reported that SAIC announced a $485 bln 5 year contract, this was incorrect, the previous comment has been removed... The co actually announced it has received a $485 mln contract from US Army research, development and engineering command. Co announced it has been awarded a contract by the U.S. Army Research, Development and Engineering Command to support the Edgewood Chemical Biological Center (ECBC), and other customers, with CBRNE (chemical, biological, radiological, nuclear, and explosive) support services. The multiple award, indefinite-delivery/indefinite-quantity contract has a five year period of performance, and a total value of $485 mln for all awardees. Work will be performed at ECBC facilities on Aberdeen Proving Ground, at SAIC offices near APG, and at other customer sites as required.

08:05

KCP Kenneth Cole and Macy's announce they will launch a new, exclusive collection of men's sportswear in fall 2010 (12.02 )

Macy's (M) and KCP announced that they will launch a new, exclusive collection of men's sportswear in fall 2010. Under their strategic alliance agreement, Macy's will be the sole department store retailer of the new Kenneth Cole REACTION men's sportswear line within the United States and its territories.

08:04

OSIP OSI Pharma: Astellas Pharma commences tender offer to acquire all outstanding shares of OSI Pharmaceuticals for $52 per share in cash (56.25 ) -Update-

Co announces that its indirect subsidiary, Ruby Acquisition, has commenced a cash tender offer for all outstanding shares of common stock of OSI Pharmaceuticals (OSIP) for $52.00 per share in cash. The offer and withdrawal rights are scheduled to expire at 12:00 midnight New York City time on March 31, 2010, unless the offer is extended. The company also announced that Astellas US Holding, a wholly owned subsidiary of Astellas Pharma, filed a lawsuit in the Delaware Court of Chancery against OSI and its directors seeking, among other things, declaratory and injunctive relief enjoining OSI and its directors from engaging in any action or inaction, including applying OSIP's "poison pill" rights plan, that has the effect of improperly impeding, thwarting, frustrating or interfering with the tender offer in a manner inconsistent with the directors' fiduciary duties.

08:03

HITK Hi-Tech Pharmacal acquires Mag-Ox line of magnesium supplements from Blaine Company (22.89 )

Co announces the signing of a definitive agreement under which Hi-Tech acquired the Mag-Ox line of Magnesium Nutritional supplements from Blaine Company, Inc., a privately held company for $4.1 mln in an all-cash transaction. Under the terms of the acquisition Hi-Tech receives rights to Mag-Ox, Maginex, Uro-Mag and Corban. The products had net sales of approx $3.4 mln in calendar 2009. The brands will be sold through the Company's Health Care Products OTC division. "We believe that this acquisition will be earnings accretive and cash flow positive in the near term, and contribute to the Company's long term growth."

08:03

TDY Teledyne Tech Acquires Minority Stake in Optical Alchemy, Inc. (38.65 )

Co announces that its subsidiary, Teledyne Scientific & Imaging, LLC, has acquired a minority interest in Optical Alchemy. Optical Alchemy is a designer and manufacturer of ultra-light electro optical gimbal systems. Terms of the transaction were not disclosed.

08:02

NPSP NPS Pharm receives $38.4 million for sale of REGPARA royalty rights (3.59 )

The co announces the sale of its royalty rights from sales of REGPARA (cinacalcet HCl) to a fund managed by DRI Capital for $38.4 million. Royalties in excess of cumulative royalties of $96 million or 2.5 times the upfront purchase price have been retained by NPS... Under the agreement, Fund is entitled to receive royalty payments related to net sales of REGPARA occurring on or after July 1, 2009. NPS has received approximately $3.5 million in cumulative royalty revenue on net sales of REGPARA arising prior to July 1, 2009. NPS expects to report cash, cash equivalents and short- and long-term investments of approximately $70 to $75 million at December 31, 2009 versus $106 million at December 31, 2008.

08:01

CSR China Security and Surveillance misses by $0.01, misses on revs; reaffirms FY10 EPS and rev guidance (7.25 )

Reports Q4 (Dec) earnings of $0.38 per share, $0.01 worse than the First Call consensus of $0.39; revenues rose 27.3% year/year to $182.7 mln vs the $207.7 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.15-1.20 vs. $1.17 consensus; sees FY10 revs of $800-820 mln vs. $811.71 mln consensus. Gross margin increased to 28.2% from 24.9% for the same period in 2008. Sequentially, gross margin increased 610 basis points as a result of expanded profitability of the installation segment. "Looking ahead, mainland demand for our products and services continues to be strong, and we are well positioned at the center of this growth. The announced acquisitions in 2009 will continue to provide us with a growth platform to expand our industry-leading capabilities in security and surveillance offerings. Our market leadership in China continues to set us apart as we roll out more products and services this year and expand security service capabilities in the years ahead."

08:00

FCX Freeport-McMoRan Announces Redemption of its $1 bln Senior Floating Rate Notes due 2015 (76.45 )

Co has issued a notice to redeem all of its outstanding Senior Floating Rate Notes due 2015 on April 1, 2010. There is $1 billion in outstanding aggregate principal amount of the Notes. Holders of record will receive 101 percent of the principal amount together with accrued and unpaid interest from October 1, 2009 to the redemption date. The Notes bear interest at LIBOR plus 3.25%. Based on the current forward LIBOR rates through the 2015 maturity of the Notes, the annual interest cost savings over the life of the Notes would average approximately $58 million per annum. FCX expects to record an approximate $20 million charge to net income in the second quarter of 2010 in connection with the redemption. The Bank of New York Mellon, as trustee, has distributed to the registered note holders written notice of the specific terms of the redemption. At December 31, 2009, FCX had $6.3 billion in total debt and consolidated cash of $2.7 billion.

08:00

AIS Antares Pharma announces completion of patient enrollment in Phase 3 Pivotal Trial of Anturol for the treatment of overactive bladder (1.35 )

Co announced today that it has completed enrollment in the double-blind portion of the Company's Phase 3 clinical trial of Anturol(TM), its transdermal oxybutynin ATD gel for the treatment of overactive bladder (OAB). Top line data from this pivotal trial, which is being conducted under a Special Protocol Assessment (SPA) from the U.S. Food and Drug Administration (FDA), is expected in the third quarter of this year. The randomized, double-blind, parallel, placebo controlled, multi-center trial was designed to evaluate the efficacy and safety of Anturol when administered topically, once daily for 12 weeks in patients predominantly with urge incontinence episodes for at least three months. The primary end point of the trial is efficacy versus placebo, defined as the reduction in the number of urinary incontinence episodes experienced per week. Secondary end points include changes from baseline in urinary urgency, average daily urinary frequency, patient perceptions, as well as safety and tolerability including skin irritation.

07:57

YGE Yingli Green Energy to supply more than 10 MW of PV Modules to SunDurance Energy (11.82 )

Co announced it has signed a sales agreement with SunDurance Energy, a leading PV company based in New Jersey that develops, designs, builds and operates megawatt-scale solar power solutions. Under the terms of the agreement, Yingli Green Energy will supply more than 10 MW of PV modules to SunDurance Energy through the third quarter of 2010.

07:56

APC Anadarko Petro says total sales volumes for 2010 are projected to be in the range of 226-231 mln BOE (70.41 )

Co announces total 2010 capital expenditures including expensed geology and geophysics, as approved by the co's Board of Directors, are expected to be between $5.3 and $5.6 bln. In 2009, Anadarko allocated approximately $1.8 bln to its base and increased sales volumes by about 7 percent relative to 2008. This year, the co has allocated approximately $2 bln to these near-term projects and expects to increase sales volumes in 2010 by up to 5% over the 2009 total of 220 mln BOE. Anadarko's total sales volumes for 2010 are projected to be in the range of 226 mln to 231 mln BOE. For the first quarter of 2010, the company expects sales volumes to be in the range of 56 mln to 59 mln BOE.

07:46

JEC Jacobs receives contract for sulfur recovery unit from Saudi Aramco (39.43 )

Co announced that it received a contract from Saudi Aramco, the state-owned oil co of the Kingdom of Saudi Arabia, to develop a basic engineering package for four sulfur recovery units, each with an expected production capacity of 1,200 tpd. This new, four-train sulfur plant will be part of the Wasit Gas Development Program in the Kingdom.

07:41

TRAD TradeStation reports monthly business metrics; reports total client assets of $2.1 bln (6.89 )

Co announces the following business metrics for the month ended February 28, 2010: 1) 85,008 Daily Average Revenue Trades; 2) Total client assets of $2.1 bln (as of Feb 28, 2010); 3) Average equities client credit balances of $878 million; and 4) Average equities client margin balances of $49 mln. YoY, TradeStation's DARTs decreased 21%, total client assets increased 30%, average equities client credit balances increased 27%, and average equities client margin balances increased 58%.

07:38

On The Wires

Aruba Networks (ARUN) announces that its enterprise wireless LAN market share increased from calendar 3Q09 to 4Q09 according to market research firm Dell'Oro Group's just-released "Fourth Quarter 2009 Wireless LAN Report." Including both branded and OEM shipments Aruba's total enterprise revenue share rose to 12.4%, dependent access point shipment share grew to 12%, and controller unit share jumped 4.3% to reach 11.4%. The solid results again positioned Aruba as one of the top two enterprise wireless LAN vendors...Xerium Technologies (XRM) announces that it has commenced a solicitation of lender votes for a comprehensive restructuring of its debt. The proposed restructuring reflects an agreement in principle supported by the steering committee of lenders under the Co's senior secured credit facility and the parties to the Co's swap termination agreements that would result in a reduction of ~$150 mln of the Co's debt and is intended to strengthen its long-term financial health. Under the restructuring, ~$620 mln of existing obligations would be exchanged for $10 mln in cash, $410 mln in new term loans maturing in 2015, and ~82.6% of the common stock of Xerium. In addition, the Co would enter into a new $80 mln secured revolver and term loan credit facility... Black Hills (BKH), subsidiary Black Hills Power made a filing with the South Dakota Public Utilities Commission requesting interim rates be implemented for electricity service on and after April 1, 2010. The Black Hills Power filing proposes an interim rate increase of $24 mln, or approximately 20%, for South Dakota electric utility customers... Banco Santander (SAN) indicated that most of its offices, branches and remote access channels are functioning normally throughout the country, except in the regions of Maule and Bio-Bio... STEC (STEC) announces at Embedded World 2010 that it is currently sampling SlimSATA and SATA-CF SSDs, STEC's newest line of solid-state drives for the embedded markets... Jamba (JMBA) announces the sale of 12 additional restaurants to experienced franchise operators, with the sale of 10 stores in Salt Lake City, Utah, to Blended Star, LLC, whose principals are Daljit and Pam Hundal, and two stores in Southern California, RPM Foods Inc, whose principals are Michael Razipour and Pouya Moalej... TowerJazz (TSEM) announces an agreement with Korea's IC Design Education Center to accelerate the country's specialty IC design expertise. Under the terms of the agreement, IDEC will provide Korean universities with access to a broad range of specialty process technologies from TowerJazz's MH fab through discounted multi-project wafer shuttles.

07:34

UNFI Utd Nat Foods misses by $0.01, beats on revs (29.81 )

Reports Q2 (Jan) earnings of $0.36 per share, $0.01 worse than the First Call consensus of $0.37; revenues rose 6.0% year/year to $898.2 mln vs the $877.9 mln consensus. "Improving sales trends have provided us with a solid level of top-line growth as we continue to work to gain market share and incremental business. UNFI has been awarded approximately $100 million in annual new business during the last six months, which is expected to phase in throughout fiscal 2010. As we begin the second half of fiscal 2010, I look forward to continued revenue growth throughout our company." Gross margin was 18.5% for the second quarter of fiscal 2010, which represents a 0.6% decline from the gross margin of 19.1% for the second quarter of fiscal 2009. The lower gross margin compared to the prior year's comparable period was largely due to a combination of lower fuel surcharge revenues, a shift in customer mix and moderated inflation.

07:32

DPZ Domino's Pizza beats by $0.05, beats on revs (12.74 )

Reports Q4 (Dec) earnings of $0.30 per share, $0.05 better than the First Call consensus of $0.25; revenues rose 8.1% year/year to $462.9 mln vs the $437.5 mln consensus. "The bold steps we have been taking to re-ignite our domestic system helped us gain significant traction last year. We succeeded in our primary goal of growing traffic all four quarters of 2009. Traffic growth was the most significant in the fourth quarter; and this positive momentum has continued thus far in 2010, as sales and traffic have increased significantly since the launch of our new core pizza." For its long range outlook the co sees y/y growth for Domestic same store sales 1% - 3%; International same store sales 3% - 5%; Net units 200 - 250; and Global retail sales 4% - 6%.

07:32

HERO Hercules Offshore beats by $0.04, beats on revs (4.00 )

Reports Q4 (Dec) loss of $0.23 per share, excluding non-recurring items, $0.04 better than the First Call consensus of ($0.27); revenues fell 43.7% year/year to $176.4 mln vs the $171.6 mln consensus. "While the slope of the recovery is still uncertain, we believe that the recovery is underway, as evidenced by the recent increase in our Domestic Offshore activity levels and our increasing backlog which is providing better visibility than we have had in over a year. The recent strengthening and stabilization in commodity prices, reduced oilfield service costs, the improvement in the capital markets and feedback we have received from our customers are all pointing toward increasing exploration and production spending both in the U.S. and internationally, which serve to reinforce our belief that the industry has entered the initial stages of recovery."

07:32

CME CME Group reports Feb volume increased 17% y/y to average of 12.5 mln contracts per day (301.03 )

Co announced that February volume averaged 12.5 mln contracts per day, up 17% from February 2009. Total volume was 238 mln contracts for February, of which a record 84% was traded electronically. Electronic volume averaged 10.5 mln contracts per day, up 23% from the prior February. Average daily volume cleared through CME ClearPort was 467,000 contracts for February 2010, down 26% compared with February 2009. The rolling three-month ClearPort rate per contract through January is up 9%, even though the rolling three-month ClearPort average daily volume is down 2% in the same period due to a product mix shift and the wide variance in rate per contract for individual CME ClearPort products.

07:31

TRA Terra Industries: CF Industries confirms offer of $47.40/share for Terra Industries (41.20 ) -Update-

CF Industries Holdings (CF) announced that it has offered to acquire TRA for $37.15 in cash and 0.0953 of a share of CF Industries common stock for each Terra share. The offer has a total value of $47.40 per share based on CF Industries closing price on Monday, March 1, 2010. CF has received $4.05 billion of financing commitments and the offer is not subject to financing. Morgan Stanley Senior Funding, Inc. has committed $2.8 billion and The Bank of Tokyo-Mitsubishi has committed $1.25 billion. CF also announced that it intends to commence an exchange offer for Terra shares that will be scheduled to expire on April 2, 2010. "It is clear that CF Industries is the best acquirer for Terra given the compelling strategic benefits of the combination, including the substantial synergies only we can achieve together. We withdrew our prior offer because we believed that Terra was unwilling to agree to a sale. Now that Terra is for sale, we have made an offer that is superior to Yara's substantially lower, highly conditional offer." The offer is subject to Terra terminating its merger agreement with Yara and entering into a merger agreement with CF Industries and other customary conditions set forth in the merger agreement.

07:31

DYAX Dyax reports KALBITOR data was presented at American Academy of Allergy, Asthma and Immunology meeting (3.61 )

Data demonstrating the effectiveness of KALBITOR to treat hereditary angioedema acute attacks by primary attack location were provided in an oral presentation yesterday at the American Academy of Allergy, Asthma and Immunology 2010 Annual Meeting in New Orleans. KALBITOR, discovered and developed by DYAX, was approved by the FDA late last year and is indicated for the treatment of acute attacks of HAE in patients 16 years of age or older. Efficacy endpoints assessed at 4 hours post-dosing for peripheral, abdominal and laryngeal attacks included two, HAE-specific, patient-reported outcome measures: Mean Symptom Complex Severity score and Treatment Outcome Score. Time to significant improvement was also assessed at 4 hours.

07:31

MYL Mylan receives approval for generic version of Actigall (21.38 )

Co announces that its subsidiary Mylan Pharmaceuticals received final approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for Ursodiol Capsules USP, 300 mg, the generic version of Watson's gastrointestinal agent Actigall Capsules. Ursodiol Capsules had U.S. sales of ~$30mln for the 12 months ending Dec. 31, 2009 according to IMS Health. Mylan's version is available for immediate shipment.

07:30

SOA Solutia announces public offering of $300 mln senior notes & plans to refinance its senior secured credit facilities (14.49 )

Co announced that it will commence a public offering of $300 mln aggregate principal amount of senior notes due 2020 to be guaranteed by certain of its domestic subsidiaries. Co also announced that it will commence a $1.05 bln senior secured financing to replace its existing senior secured term loan facility due February 2014 and its existing senior secured ABL facility due February 2013. A portion of the net proceeds from the refinancing may be used to partially fund Solutia's recently announced acquisition of Etimex Solar GmbH. The proposed refinancing is expected to include a new senior secured $750 mln term loan due 2017 and the new senior secured $300 mln cash flow revolving credit facility due 2015.

07:29

BMO Bank of Montreal reports 1Q EPS of $1.12 vs. $0.73 a year ago (54.38 )

"This quarter's strong performance demonstrates the earnings power of our core businesses and reinforces the confidence we have in our strategy," said Bill Downe, President and Chief Executive Officer, BMO Financial Group. "Underpinning this performance is an unwavering commitment to our customers, which runs through every part of the company.

07:24

ALY Allis-Chalmers Energy misses by $0.01, reports revs in-line; guides FY10 EPS below consensus, revs in-line; FY11 EPS and revs in line (3.91 )

Reports Q4 (Dec) loss of $0.13 per share, $0.01 worse than the First Call consensus of ($0.12); revenues fell 29.1% year/year to $128.6 mln vs the $128.4 mln consensus, the decrease in revenues and net income in the fourth quarter and the full year 2009, as compared to the fourth quarter and the full year 2008, excluding the impact of the goodwill charge in 2008, was due primarily to the drop in the U.S. rig count, reduced equipment utilization and increased pricing competition during 2009. Co issues mixed guidance for FY10, sees EPS of ($0.27)-(0.16) vs. ($0.14) consensus; sees FY10 revs of $565-615 mln vs. $587.79 mln consensus. Co issues in-line guidance for FY11, sees EPS of $0.13-0.31 vs. the $0.23 consensus; sees FY10 revs of $650-700 mln vs. $683.6 mln consensus.

07:22

PUK Prudential: S&P puts Prudential and subs ratings on watch negative (16.13 ) -Update-

Standard & Poor's Ratings Services said it placed its ratings on Prudential PLC and its operating subsidiaries, including the 'A+' long-term counterparty credit rating on Prudential, on CreditWatch with negative implications. The CreditWatch placement reflects Prudential's announcement that it has reached an agreement with American International Group Inc. (AIG; A-/Negative/A-1) to acquire an AIG subsidiary, AIA Group Ltd. (AIA Group; not rated). The transaction includes AIA Group's subsidiary, American International Assurance Co. Ltd. (AIA; A+/Developing/--). In addition, Prudential announced its results for 2009, which were better than our expectations. "We have placed our ratings on Prudential on CreditWatch negative because of the size and weaker credit profile of AIA relative to Prudential and to reflect our view that the transaction likely will have a material adverse impact on Prudential's key credit metrics, such as capitalization and fixed-charge coverage," said Standard & Poor's credit analyst Mark Button. "We also believe the transaction carries significant execution risks."

07:22

PTEN Patterson-UTI reports drilling activity for February 2010 (15.44 )

Co reported that for the month of February 2010, the co had an average of 146 drilling rigs operating, including 131 rigs in the United States and 15 rigs in Canada. For the two months ended February 2010, the co had an average of 141 drilling rigs operating, including 126 rigs in the United States and 15 rigs in Canada.

07:20

CTB Cooper Tire beats by $0.16, beats on revs (17.83 )

Reports Q4 (Dec) earnings of $0.63 per share, $0.16 better than the First Call consensus of $0.47; revenues rose 21.6% year/year to $773 mln vs the $721.9 mln consensus. "The tire industry and the global environment continue to be fluid. Successful implementation of the three imperatives detailed in our Strategic Plan and improvement in market or industry conditions can drive improved operating results. We recognize these results may also be subjected to uncontrollable factors that impact the replacement tire industry. Our focus remains on prudent management of our critical resources to drive shareholder value. With recent trends in mind, our outlook remains cautiously optimistic. The successes we achieve, combined with improved global industry conditions, can result in an even stronger Company with a more consistent level of profitability."

07:17

ARQL ArQule beats by $0.02, beats on revs; guides FY10 EPS above consensus, revs in-line (3.40 )

Reports Q4 (Dec) loss of $0.22 per share, $0.02 better than the First Call consensus of ($0.24); revenues rose 35.8% year/year to $7.29 bln vs the $0.01 bln consensus. Co issues mixed guidance for FY10, sees EPS of ($0.84)-($0.76) vs. ($0.90) consensus; sees FY10 revs of $24-28 mln vs. $27.07 mln consensus. For 2010, ArQule expects net use of cash to range between $43 and $47 million. ArQule expects to end 2010 with between $70 and $74 million in cash and marketable securities.

07:07

WEL Boots & Coots beats by $0.01, beats on revs (1.88 )

Reports Q4 (Dec) earnings of $0.03 per share, $0.01 better than the First Call consensus of $0.02; revenues fell 5.2% year/year to $53 mln vs the $43.6 mln consensus. "Year over year, revenues were down only 7% and we remained profitable despite nearly a 50% drop in domestic rig count from its 2008 high and the worldwide recession. We believe these results are a tremendous contrast relative to our peers and are due in large part to our global geographic diversity and the manner in which we deliver our products and services. Our focus continues to be broadening our international reach while continuing to focus on unconventional gas in North America and abroad," ... "Our markets appear to be mostly rebounding from the lows experienced in the third quarter of 2009, and our international diversification and focus on shale plays in the U.S. make us very well positioned for growth as market conditions improve."

07:06

BPI Bridgepoint Education beats by $0.10, beats on revs; guides FY10 revs above consensus (17.99 )

Reports Q4 (Dec) earnings of $0.34 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.24; revenues rose 90.6% year/year to $131.8 mln vs the $125.1 mln consensus. Co issues guidance for FY10, sees EPS of $1.86-1.88, may not be comparable to $1.62 consensus; sees FY10 revs of $688.2-691.2 mln vs. $629.08 mln consensus. Total student enrollment in FY10 is expected to be between 69,000 and 71,000 at December 31, 2010. Total student enrollment at Bridgepoint Education's academic institutions, Ashford University and University of the Rockies, increased 70.1% to 53,688 students at December 31, 2009, compared with 31,558 students at the end of the fourth quarter of 2008. As of December 31, 2009, 99% of the total student population accessed their classes exclusively online. Bad debt as a percentage of revenues for 2010 is expected to be 5.1%. Co also sees Capital expenditures for 2010 are expected to be between 7% and 8% of revenue. The Company's effective tax rate for 2010 is estimated to be 40.6%.

07:04

BYD Boyd Gaming reports EPS in-line, revs in-line (7.67 )

Reports Q4 (Dec) net of breakeven, excluding non-recurring items, in-line with the First Call consensus of ($0.00); revenues fell 8.9% year/year to $384.9 mln vs the $386.1 mln consensus. Total Adjusted EBITDA was $74.0 million for the quarter, a decrease of 21.4% from $94.1 million in the prior year. "The stabilizing trends we've noted previously continued during the fourth quarter, and we were especially encouraged by our Las Vegas Locals business, which showed sequential improvement from the third quarter. Visitation to the city continues to grow, reflecting the popularity of Las Vegas as a destination. As the economic recovery accelerates, consumer spending will increase, providing us the opportunity to capitalize on our more efficient business model... In our Las Vegas Locals segment, fourth-quarter 2009 net revenues were $155.0 million versus $176.8 million for the fourth quarter 2008. Fourth-quarter 2009 Adjusted EBITDA was $34.7 million, a 20.7% decrease from the $43.8 million in the same quarter 2008. We saw stable visitation at our properties in the Las Vegas Valley, but continued to be impacted by depressed consumer discretionary spending."

07:02

ORCH Orchid Biosci awarded multi-year contract for DNA paternity testing for state of Michigan valued at $5.2 mln (1.48 )</p>

Co announced that it has been awarded a contract to conduct all publicly funded DNA paternity testing for the State of Michigan. The multi-year contract begins April 1, 2010 and is extendable for four years beyond its expiration in March 2015. Under the terms of the contract, Orchid Cellmark will be the sole provider of DNA paternity testing services for child support enforcement and children's protective services throughout the entire state. According to the award letter from the State of Michigan, this contract has a revenue value of approximately $5.2 mln over the initial five-year term."

07:02

AZO AutoZone beats by $0.11, reports revs in-line (166.07 )

Reports Q2 (Feb) earnings of $2.46 per share, $0.11 better than the First Call consensus of $2.35; revenues rose 4.1% year/year to $1.51 bln vs the $1.49 bln consensus.

07:02

ITMN InterMune announces submission of MAA for Pirfenidone for the treatment of patients with IPF (14.64 ) -Update-

Co announces that it has submitted a Marketing Authorization Application to the European Medicines Agency seeking approval to market pirfenidone for the treatment of patients with idiopathic pulmonary fibrosis in the European Union. Currently, there are no EMA-approved treatments for IPF in the EU. InterMune currently expects the validation process by the EMA to be completed by late March. Validation of the MAA indicates that InterMune's application is complete and that the review process has begun. The MAA is the second major regulatory filing by InterMune to seek approval to market pirfenidone for the treatment of patients with IPF. The New Drug Application for pirfenidone was filed by InterMune in the United States in early November 2009. The FDA's Pulmonary-Allergy Drugs Advisory Committee is scheduled to discuss the company's NDA for pirfenidone on March 9, 2010. Based on the Prescription Drug User Fee Act , the FDA has set an action date for the NDA of May 4, 2010.

07:01

PLD ProLogis announces new rooftop solar project in Portland totaling 2.4 MW (12.84 )

The co announces a second solar project in Portland, totaling 2.4 megawatts (MW). Once completed, this project will be the largest rooftop solar system in the Pacific Northwest. ProLogis has signed an agreement with Portland General Electric, a vertically integrated electric utility that serves approximately 818,000 residential, commercial and industrial customers in Oregon, for more than 900,000 square feet of roof space. The project will cover seven buildings and total 2.4 MW. This is the second rooftop solar project between the two companies, bringing ProLogis' total partnership with PGE to 3.5 MW of solar energy, enough to power approximately 388 households annually.

07:01

DLA Delta Apparel raises fiscal 2010 sales and earnings guidance (13.79 )

Co is raising its expectations of net sales and earnings for its 2010 fiscal year ending July 3, 2010. For the full fiscal year 2010, co now expects net sales of $395-400 million, up from prior guidance of net sales of $375-385 million (no ests). Co sees EPS of $1.20 to $1.30, up from $0.95 to $1.10. "Sales trends in each of our business units continue to be strong as we proceed through the second half of the fiscal year... Gross margins are exceeding our original target, driven by manufacturing efficiencies at the company-owned facilities and a favorable shift in product mix." While the Company remains concerned about the U.S. economy, it believes it has taken into consideration the heightened risk factors associated with the current economic climate. Significant deterioration in the economy could, however, negatively impact the Company's ability to achieve its expectations.

07:01

FTEK Fuel-Tech announces Alliance agreement with a major domestic power producer (6.57 )

Co announced the signing of an alliance agreement with a major domestic power producer for the potential supply of multiple nitrogen oxide (NOx) control systems. This exclusive four-year arrangement contemplates the supply of Selective Non-Catalytic Reduction (SNCR) systems and related services for as many as twelve coal-fired generating units. The initial modeling order for several of these units has been placed under the agreement.

07:01

COV Covidien gets approval from FDA for EXALGO extended-release tablets (49.12 )

Co announced that the U.S. Food and Drug Administration (FDA) has approved the New Drug Application 21-217 for EXALGO (hydromorphone HCl) Extended-Release Tablets, (CII). The indication for EXALGO is once daily administration for the management of moderate to severe pain in opioid-tolerant patients requiring continuous, around-the-clock opioid analgesia for an extended period of time.

07:00

CRXX Combinatorx: FDA Approves Exalgo Extended-Release Tablets (1.11 )

Co announces that the U.S. Food and Drug Administration has approved the New Drug Application for Exalgo extended-release tablets, for the management of moderate to severe pain in opioid tolerant patients requiring continuous, around-the-clock opioid analgesia for an extended period of time. CombinatoRx will receive a $40 mln milestone payment from Covidien based on Exalgo approval and is eligible to receive tiered royalties on Exalgo net sales. Under the terms of the agreements relating to the merger with Neuromed Pharmaceuticals, effective with the FDA approval of Exalgo, approximately 38,609,168 additional shares of CombinatoRx common stock are outstanding, resulting in CombinatoRx having total shares of common stock outstanding following FDA approval of Exalgo of approximately 88,610,640.

07:00

EQT EQT Corp. announces strategic marcellus acreage acquisition; increases EUR per marcellus well (44.92 )

Co will acquire ~58,000 net acres in the Marcellus Shale from a group of private operators and landowners. The purchase includes a 200 mile gathering system, with associated rights of way, and approximately 100 producing vertical wells. At closing, EQT will pay ~$280 million, 90% with EQT stock and 10% with cash. Following the closing of the acquisition, EQT will hold more than 500,000 net acres in the high-pressure Marcellus shale fairway. Co expects the transaction to close by April 30, subject to customary closing conditions. "The Marcellus well results continue to exceed our expectations, therefore we are increasing our average estimated ultimate recovery (EUR) per well from between 3.5 and 4 Bcfe, to between 4 and 4.5 Bcfe across our 500,000 acres. We will continue to update our EUR estimates as we obtain additional well result data. At an average cost of $3.0 million per well, EQT's development cost is estimated to be less than $0.75 per Mcf, which is among the lowest in the industry."

07:00

CGEN Compugen appoints Dr. Anat Cohen-Dayag as President and CEO Martin Gerstel to reassume Chairman post (4.56 )

Co announced the appointment of Anat Cohen-Dayag, Ph.D. as president and CEO, and Martin Gerstel as chairman. Previously, Dr. Cohen-Dayag and Mr. Gerstel served as co-CEOs of the company.

06:58

STJ St. Jude Medical receives CE Mark approval for Trifecta Valve (38.22 )

Co announced that it has received CE Mark approval for the Trifecta valve. The Trifecta tissue valve is used to replace a patient's diseased, damaged or malfunctioning aortic heart valve, which controls blood flow from the heart to the rest of the body.

06:36

S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +2.30.

06:36

Asian Markets

Nikkei...10221.84...+49.80...+0.50%. Hang Seng...20906.11...-150.80...-0.70%.

06:36

European Markets

FTSE...5428.60...+22.70...+0.40%. DAX...5731.28...+17.80...+0.30%.

06:33

HCII Homeowners Choice files registration statement for preferred stock offering (8.02 )

Co announces it has filed a registration statement with the SEC in connection with a proposed public offering of up to 1.2 mln shares of 6% Series A Noncumulative Redeemable Preferred Stock with a purchase price of $10.00.share.

06:33

SNTA Synta Pharma announces Elesclomol clinical development to resume (4.02 )

Co announces that the U.S. Food and Drug Administration has approved resuming clinical development of elesclomol, the Company's first-in-class oxidative stress inducer. The application to the FDA to resume development focused on a specific clinical trial protocol that excluded patients with elevated LDH. Additional clinical trial protocols will require additional review by the FDA.

06:32

TECD Tech Data beats by $0.24, beats on revs (44.83 )

Reports Q4 (Jan) earnings of $1.25 per share, excluding non-recurring items, $0.24 better than the First Call consensus of $1.01; revenues rose 10.0% year/year to $6.28 bln vs the $6.03 bln consensus.

06:30

ASYS Amtech Systems announces $8.5 mln in new solar orders (8.68 )

Co announces that its solar subsidiary, Tempress Systems, has received approx $8.5 mln in solar orders for its diffusion processing systems from two new customers in Asia and one new customer in Europe. Including these most recent orders, Amtech's solar orders in the current quarter that ends March 31, 2010 total $27 mln and total solar orders to-date in fiscal 2010 have surpassed $80 mln. Amtech's fiscal 2010 began October 1, 2009.

06:24

DEER Deer Consumer Products beats by $0.06; reports in-line revenue; reaffirms FY10 revenue guidance (12.65 )

Reports FY09 earnings of $0.53 per share, $0.06 better than the First Call consensus of $0.47; revenue increased 86% year/year to $81.3 mln vs $80.8 mln consensus. Co reaffirms guidance for FY10, sees revenue of approx $155.0 mln vs $157.73 mln consensus. Co reaffirms net income guidance of approx $24 mln from organic growth.

06:15

IBKC IberiaBank announces it has commenced an underwritten public offering of $300 mln of its common stock (57.94 )

Co announces it has commenced an underwritten public offering of $300 mln of its common stock. The underwriters will have a 30-day option to purchase up to an additional 15 percent of the offered amount of common stock from the Company, to cover over-allotments, if any.

06:13

DBLE Double Eagle Petro reports year 2009 operating results (4.24 )

Co announces that the co achieved annual production for the year ended December 31, 2009 of 9.3 Bcfe, an increase of 39% over 2008 production of 6.7 Bcfe. The increase was driven primarily by the co's operated Catalina Unit, which accounted for 73% of the year over year increase. Significant production increases were also realized from our interest in the Pinedale Anticline non-operated properties. At December 31, 2009, the co had $34.0 mln outstanding under its existing credit facility. Subsequent to year-end, the co re-negotiated it credit facility to extend the maturity date through January 31, 2013. The current commitment amount from the existing participating banks is $45 mln. Based on the current bank price deck for the co's reserves, the borrowing base of existing proved developed producing reserves would be approximately $65 mln. The co estimates that its 2010 full-year capital budget will be $15 -$20 mln. The co will focus on enhancing production from our current producing wells in the Atlantic Rim and drilling new development wells in the Pinedale Anticline. Additional exploration in the Atlantic Rim is possible during 2010. The co will continually evaluate the market and should conditions change, the co may modify its capital budget accordingly.

06:12

SPLS Staples misses by $0.01, beats on revs; guides Q1 EPS in-line; guides FY10 EPS above consensus (25.86 )

Reports Q4 (Jan) earnings of $0.38 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.39; revenues rose 3.8% year/year to $6.41 bln vs the $6.3 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.25-0.27, excluding non-recurring items, vs. $0.27 consensus. Co expects 1Q10 sales to increase in mid single-digits vs 1Q09. Co issues upside guidance for FY10, sees EPS of $1.23-1.33, excluding non-recurring items, vs. $1.15 consensus. Co expects FY10 sales to increase in the low single-digits vs FY09.

06:10

FDP Fresh Del Monte beats by $0.02, beats on revs (19.85 )

Reports Q4 (Dec) earnings of $0.36 per share, $0.02 better than the First Call consensus of $0.34; revenues rose 4.9% year/year to $872.1 mln vs the $829.4 mln consensus. The increase in net sales was primarily driven by improved performance in the Company's gold pineapple and fresh-cut product lines, along with higher net sales for the Company's banana business segment.

06:08

GEOI GeoResources reports proved reserves (13.58 )

Co announces its proved reserves of crude oil and natural gas as of December 31, 2009. Based on the prescribed SEC rules, proved reserves were estimated at 20.7 mln barrels of oil equivalent, being 55% oil and 75% proved developed. Proved reserves increased 6.1 Mmboe for a growth rate of 42% from December 31, 2008 to December 31, 2009. The Company replaced 467% of the 1.7 Mmboe of production during the year; 150% of production was replaced through drilling and the remainder resulted from core area acquisitions and upward reserve revisions. The independent reservoir engineering firm of Cawley, Gillespie & Associates, Inc. prepared the Company's year-end reserve report

06:04

ASTI Ascent Solar and FTL Solar sign multi-million dollar strategic alliance supply agreement (4.02 )

Co announces that it has signed a strategic supply agreement with FTL Solar, LLC, a provider of lightweight solar structures and products headquartered in Austin, TX. The agreement includes a minimum purchase commitment of $6.5 mln over a three year period.

04:52

CEL Cellcom Israel beats by NIS 0.15, reports revenue in-line (34.41 )

Reports Q4 (Dec) basic earnings of NIS 2.75 per share, NIS 0.15 greater than the NIS 2.60 First Call consensus; revenue increased 4.3% year/year to NIS 1.64 bln vs NIS 1.626 bln consensus.

03:12

AIB Allied Irish Banks reports FY09 preliminary results (2.71 )

Reports FY09 operating profit before provisions of EUR 2,962 million. Reports underlying operating profit before provisions of EUR 2,339 million, down 7%. Loss for the period was EUR 2,334 million. AIB Bank ROI loss was EUR 3,594 million; operating profit before provisions decreased 25% Capital Markets profit was EUR 531 mln, down 7%; operating profit before provisions, increased 23%. AIB Bank UK loss was GBP 15 mln; operating profit before provisions, increased 4%. Co reports basic loss per share of $2.15. Co reports adjusted basic loss per share of $3.44.

02:45

OHB Orleans Homebuilders files voluntary Ch. 11 petitions; obtains up to $40 mln in anticipated new DIP financing; all homebuilding and management services to continue operations (0.71 )

02:17

CAL Continental Air reports February 2010 operational performance (21.20 )

Co reports a February consolidated (mainline plus regional) load factor of 77.7%, 5.2 points above the February 2009 consolidated load factor, and a mainline load factor of 78.1%, 5.2 points above the February 2009 mainline load factor. The carrier reported a domestic mainline February load factor of 80.6%, 2.9 points above the February 2009 domestic mainline load factor, and an international mainline load factor of 75.9%, 7.5 points above February 2009. In February 2010, Continental flew 6.1 bln consolidated revenue passenger miles and 7.8 bln consolidated available seat miles, resulting in a consolidated traffic increase of 3.3% and a capacity decrease of 3.8% as compared to February 2009.

02:15

BMY Bristol-Myers Squibb: FDA Advisory Committee recommends approval of belatacept, an investigational agent for prophylaxis of acute rejection in de novo kidney transplant patients (24.39 )

Co announces the FDA's Cardiovascular and Renal Drugs Advisory Committee has voted 13 to 5 to recommend approval of belatacept, a selective co-stimulation blocker, for the prophylaxis of acute rejection in de novo kidney transplant patients. The belatacept Biologics License Application was submitted to the FDA for an indication of prophylaxis of organ rejection and preservation of a functioning allograft in adult patients receiving renal transplants with use in combination with an interleukin-2 (IL-2) receptor antagonist, a mycophenolic acid, and corticosteroids.

02:04

WX WuXi PharmaTech enters into collaboration with Johnson & Johnson Pharmaceutical R&D, a division of Janssen Pharmaceutica for preclinical services and training (16.14 )

Co announces it has reached an agreement with Johnson & Johnson Pharmaceutical Research & Development, a division of Janssen Pharmaceutica N.V., to collaborate in the area of preclinical services. Under the agreement, WuXi PharmaTech will become a provider of toxicology and other non-clinical services to JANSSEN. In addition, JANSSEN will provide training and other services, reimbursed by WuXi, to establish the GLP quality system and technical capabilities to meet the international standards at WuXi's toxicology facility in Suzhou, China.

02:02

On The Wires

Kyocera (KYO) announces that it will increase its annual solar cell production targets; new targets aim for an incremental increase to 1 GW per year by March 2013 - 2.5x more than the current FY10 production volume of 400MW... Kraton Performance Polymers (KRA) announces a general price increase in the Americas of 10 cpp or 220 usd/ton for Kraton SIS and SIBS polymers and compounds across all markets and end-uses... Kraton Performance Polymers (KRA) announces a general price increase in Europe, Africa and the Middle East of Euro 200 /MT for Kraton SIS and SIBS polymers across all markets and end-uses. Based on these same drivers, Kraton announces a general price increase in Europe, Africa and the Middle East of Euro 150 /MT for Kraton SBS and OE SBS polymers and compounds across all markets and end-uses.

18:50

NUHC Nu Horizons Electronics announces termination of distribution agreement with Xilinx (4.40 +0.05)

Co announced that Xilinx has formally notified NUHC of its intention to terminate its distribution agreement with NUHC due to a change in XLNX's distribution strategy. The termination is effective as of June 5, 2010 and until that date XLNX and NUHC intend to work together to ensure a smooth transition. Additionally, XLNX has stated that it will work with Nu Horizons to honor customer backlog. Pursuant to the terms of the distribution agreement, NUHC has the right to return all unsold Xilinx inventory to Xilinx, at Xilinx's expense, for a full refund of the original purchase price. The net value of XLNX inventories at February 28, 2010 was $41.2 mln, inclusive of confirmed orders. Xilinx product sales were ~32% of the co's total sales for fiscal 2010.

18:43

Futures are lower after hours with S&P 500 futures 0.10 points below fair value of 1114.7 and Nasdaq 100 futures 1.56 points below value of 1846.31

18:34

TYG Tortoise Energy Infrastructure provides unaudited balance sheet information and asset coverage ratio (30.50 +0.04)

TYG announced that as of Feb. 28, 2010, the co's unaudited total assets were ~$1.2 bln and its unaudited net asset value was $753.4 mln, or $28.06 per share. As of Feb. 28, 2010, the co was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The co's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 553%, and its coverage ratio for preferred shares was 395%.

18:32

TYY Tortoise Energy provides unaudited balance shiet Information and asset coverage ratio update (23.97 +0.31)

Co announced that as of Feb. 28, 2010, the company's unaudited total assets were ~$641.6 mln and its unaudited net asset value was $416.0 mln, or $21.76 per share. As of Feb. 28, 2010, the co was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The co's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 634%, and its coverage ratio for preferred shares was 368%.

18:21

EDMC Education Management LLC announces tender offer for the co's outstanding senior subordinated notes (20.00 +0.09)

Co provider of post-secondary education and an indirect subsidiary of Education Management Corporation (EDMC), announced that it commenced a cash tender offer for any and all of its outstanding 10 1/4% Senior Subordinated Notes due 2016. The terms and conditions of the tender offer are described in an Offer to Purchase, dated March 1, 2010, and a related Letter of Transmittal, which are being sent to holders of Notes.

17:32

TGI Triumph Group announces acquisition of Fabritech (53.40 +1.06)

Co announced the acquisition of Fabritech, Inc., a component manufacturer and repair station for critical military rotary-wing platforms. The acquired business, which will operate as Triumph Fabrications-St. Louis and be part of Triumph Aftermarket Services Group, is expected to add approximately $25 million of revenue for fiscal year 2011 and will be immediately accretive to earnings.

17:30

FIGI Fortress International Group announces restructuring of original seller's note (0.56 +0.03)

Co announced it has restructured the seller's note due to Fortress International Group President Jerry Gallagher, thus reducing the relevant principal and interest payments in 2010 from $2.78 to $0.32 mln and extending the terms to 2014. The terms of the restructuring call for $1.25 mln of the $4.0 mln note to be converted to 625,000 shares of common stock ($2.00 per share). The interest rate is reduced from 6% to 4%, and $1.0 mln of the remaining $2.75 mln will be paid in 8 quarterly installments of $125,000 beginning in April 2012. The final payment of all remaining amounts of principal and interest is due April 1, 2014.

17:30

TRW TRW announces commencement of secondary common stock offering of 11 mln shares (27.81 +0.94)

Co announced the underwritten public offering of 11,000,000 shares of its common stock held by Automotive Investors L.L.C., an affiliate of The Blackstone Group L.P., and certain members of TRW management pursuant to the co's shelf registration statement filed with the Securities and Exchange Commission. TRW will not receive any proceeds related to the Offering, and its total number of shares of common stock outstanding will not materially change as a result of the Offering.

17:26

SYKE Sykes Enterprises reports EPS in-line, beats on revs; guides Q1 EPS below consensus; guides FY10 EPS in-line (24.68 +0.87)

Reports Q4 (Dec) earnings of $0.34 per share, excluding non-recurring items, in-line with the First Call consensus of $0.34; revenues rose 9.8% year/year to $220.5 mln vs the $214 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.20-0.24, excluding non-recurring items, vs. $0.34 consensus. Co issues in-line guidance for FY10, sees EPS of $1.38-1.55, excluding non-recurring items, vs. $1.51 consensus.

17:22

PLT Plantronics announces one mln share repurchase program (28.94 +0.51)

17:19

INTC Intel will resume trading at 17:25 ET (20.87 +0.34) -Update-

17:15

AWX Avalon Holdings announces Steven M. Berry as President and CEO (2.50 +0.04)

17:14

FIX Comfort Sys USA beats by $0.02, misses on revs (12.13 +0.41)

Reports Q4 (Dec) earnings of $0.20 per share, $0.02 better than the First Call consensus of $0.18; revenues fell 21.7% year/year to $256.7 mln vs the $274 mln consensus.

17:11

INTC Intel's Sean Maloney to take medical leave (20.87 +0.34) -Update-

Co announces that Sean Maloney, executive vice president and general manager, Intel Architecture Group, is taking a medical leave of absence after suffering a stroke at his home. "Maloney's prognosis for a full recovery is excellent and he is expected to resume all of his business responsibilities after a period of recuperation which is thought to be several months, the company said. His duties in the interim will be assumed by Dadi Perlmutter, also executive vice president and general manager (with Maloney) of the Intel Architecture Group."

17:10

INTC Intel halted, news dissemination (20.87 ) -Update-

17:09

TSN Tyson Foods provided investor update at conference (17.17 +0.13)

Co said that with lower overall industry production levels, decreased imports, increased exports and lower cold storage inventories, according to USDA data, the availability of chicken, beef, pork and turkey in the United States appears to be declining for the second year in a row. "Although demand is down, supplies are down more, making for what should be a favorable pricing environment. Prices for corn and soybean meal -- key inputs in chicken production -- are expected to be favorable as well." Leatherby said in 2010 Tyson is focusing on integrating recent acquisitions in China and Brazil, further reducing debt, reinvesting in its business and exploring opportunities for its Renewable Products Group, which includes pet products, renewable fuels, biotech and nutraceuticals... Dynamic Fuels, Tyson's joint venture with Syntroleum, is expected to bring its renewable diesel plant online this summer, the first of its kind in the United States.

17:09

WPI Watson Pharm signs agreement to divest equity interest in ScinoPharm (40.12 +0.33)

Co announces that it signed an agreement on February 26, 2010 to divest its equity ownership position of approximately 31% of ScinoPharm Taiwan. Watson expects the transaction to close during the first half of 2010. Under the terms of the stock purchase agreement, Watson will sell its entire holdings for net proceeds of approximately $94 mln. The co said that it intends to utilize the proceeds to enhance its financial ability to execute future strategic business development initiatives, as well as support other general business purposes.

17:05

BGC General Cable has acquired Beru SAS (24.84 +0.41)

Co has acquired Beru SAS, a wholly-owned subsidiary of BorgWarner (BWA) France SAS. "In its first year of operations we expect this business to report in excess of $20 million in revenues."

17:04

LSBK Lake Shore Bancorp announces stock repurchase program of up to 122,642 shares of the co's common stock. (7.99 +0.16)

17:03

ATML Atmel's proposed sale of its wafer fabrication operation to LFoundry GmbH has been approved by employees at the facility and the Rousset Works Council (4.67 +0.16) -Update-

17:02

ABM ABM Industries misses by $0.05, reports revs in-line; reaffirms FY10 EPS in-line (21.16 +0.68)

Reports Q1 (Jan) earnings of $0.27 per share, excluding non-recurring items, $0.05 worse than the First Call consensus of $0.32; revenues fell 2.0% year/year to $869.9 mln vs the $874.4 mln consensus. Co reaffirms in-line guidance for FY10, sees EPS of $1.35-1.45, excluding non-recurring items, vs. $1.42 consensus.

17:01

NRCI National Research Corp. inceases quarterly cash dividend 19% to $0.19/share (20.56 +0.59)

17:00

MDTH Medcath announces decision to consider strategic options (6.95 +0.18)

The co announces that its Board of Directors has formed a Strategic Options Committee composed solely of independent directors to consider the sale either of MedCath or the sale of its individual hospitals and other assets. Navigant Capital Advisors has been retained as its financial advisor to assist the Committee in this process. Due to this engagement, Dr. Edward Casas, a senior managing director of Navigant Capital Advisors, resigned voluntarily from MedCath's Board and will not stand for reelection to MedCath's Board at its upcoming annual stockholders' meeting on March 3, 2010.

<p>16:57

TMK Torchmark Corp declares dividend and resumes stock repurchases (47.05 )

Co announces that its Board of Directors has declared a quarterly dividend of $.15 per share on all of the outstanding common stock. TMK also announced that its Board of Directors has authorized resumption of the Company's common stock repurchase program, which was suspended in the first quarter of 2009 in light of economic conditions at that time. With the improvement in the Company's capital position, including a higher than anticipated 355% consolidated risk based capital ratio in its subsidiaries, the Board of Directors concurred with management's recommendation that common stock be repurchased in amounts and at such times as management, in consultation with the Board, determines to be in the best interest of the Company. This repurchase program has no defined expiration date or maximum amount of shares to be repurchased.

16:56

ESP Espey Mfg. & Electronics appoints Mark St. Pierre as new CEO (19.52 0.00)

16:51

CMS CMS Energy beats by $0.02, misses on revs; guides FY10 adjusted EPS in-line (15.38 +0.11)

Reports Q4 (Dec) earnings of $0.38 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.36; revenues fell 12.4% year/year to $1.61 bln vs the $1.71 bln consensus. Co sees FY10 adjusted earnings of ~$1.35 per share vs $1.35 consensus. "While the company expects 2010 reported earnings to be about the same as its adjusted earnings, reported earnings could vary because of several factors such as legacy issues associated with prior asset sales. Because of those uncertainties, the company isn't providing reported earnings guidance."

16:47

MR Mindray Medical beats by $0.02, beats on revs; guides FY10 revs in-line (38.45 +0.29)

Reports Q4 (Dec) earnings of $0.33 per share, $0.02 better than the First Call consensus of $0.31; revenues rose 12.4% year/year to $188.8 mln vs the $180.1 mln consensus. Co issues in-line guidance for FY10, sees FY10, 17% higher than 2009, revs of ~$742 mln vs. $751.30 mln consensus. "Despite starting 2009 in a very unstable international operating environment, we maintained our focus and executed on our strategy, and as a result, delivered strong growth for the year. We are very proud to have achieved such strong operational results while enhancing our competitive position," commented Xu Hang, Mindray's chairman and co-chief executive officer. "As we closed the year, we saw strong sales growth in the vast majority of the markets we compete in, pushing full year top-line growth up into the mid-teens. In addition, we also delivered double digit bottom-line growth and generated strong cash flow."

16:41

ZION Zions Bancorp announces new equity distribution agreements (18.22 -0.32)

Co entered into new common equity distribution agreements with each of Deutsche Bank Securities and Goldman, Sachs, pursuant to which the Company may offer and sell through or to Deutsche Bank Securities and Goldman, Sachs, as sales agents, from time to time, shares of the Company's common stock, with aggregate sales of up to $250 mln. Co also announced that it has commenced an Exchange Offer to exchange any and all of its currently outstanding nonconvertible subordinated notes into shares of Zions' common stock.

16:37

CVI CVR Energy reports Q4 loss per share of ($0.16), including items, vs. ($0.01) First Call consensus; net sales increased 31.7% y/y to $921.9 mln vs. $897.3 mln consensus (8.19 -0.03)

16:36

CNBC Center Bancorp Correction (8.53 +0.07)

At 16:21 we incorrectly reported that CNBC appointed Robert Crowl as Executive Vice President and Chief Financial Officer. Sun Bancorp (SNBC) was, in fact, the co who appointed Robert Crowl as Exec VP and CFO. Our original comment has been removed.

16:36

AMCN Airmedia misses by $0.05, beats on revs; guides Q1 revs above consensus (6.74 +0.18)

Reports Q4 (Dec) loss of $0.19 per share, $0.05 worse than the First Call consensus of ($0.14); revenues rose 11.7% year/year to $45.2 mln vs the $44 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $48-51 mln vs. $46.03 mln consensus. Note: Including the newly acquired companies, AirMedia currently expects that its total revenues for the first quarter of 2010 will range from US$48.0 million to US$51.0 million, representing a year-over-year increase of 46.4% to 55.6% from the same period in 2009. Excluding the newly acquired companies, AirMedia currently expects that its total revenues for the first quarter of 2010 will range from US$45.4-$48.4 million, representing a year-over-year increase of 38.5% to 47.6% from the same period in 2009.

16:36

MSTR MicroStrategy announces "aggressive recruiting program" (90.67 +2.05)

Co announced an aggressive recruiting program to attract top BI professionals. In 2010, MicroStrategy plans to expand its global footprint with the addition of more than 200 employees in key business areas, including sales, engineering, consulting, technology, and marketing. Co currently has over 1,800 employees and direct operations in more than 20 countries.

16:34

BWEN Broadwind Energy plans expansion with gearbox refurbishment capabilities (4.87 -0.08)

Co announced that it is expanding its portfolio of Precision Repair and Engineering services with enhanced megawatt (MW) gearbox refurbishment capabilities. For MW-scale wind turbines in North America, gearbox repair and refurbishment have traditionally been performed outside the U.S. by non-domestic sources. Broadwind believes it will be the first independent supplier of wind energy products and services to offer enhanced MW gearbox repair and refurbishment capabilities in North America.

16:32

ICGN Icagen reports results of Phase Ib pain Study of ICA-105665; ICA-105665 did not reduce the pain elicited in the capsaicin or sunburn models; The compound was well tolerated with no serious adverse events (0.66 -0.04)

Co reported results of its Phase Ib pain study of ICA-105665, the co's novel orally available small molecule KCNQ potassium channel agonist, which the company is developing for the treatment of epilepsy and pain. This randomized, double-blind, placebo-controlled, cross-over study was designed to assess the ability of ICA-105665 to decrease the sensation of pain in response to the intradermal injection of capsaicin and to a simulated sunburn. Twenty-four healthy volunteers were enrolled in the study, which was conducted at a single clinical research site in the United Kingdom. At the dose tested, which was 200mg bid, ICA-105665 did not reduce the pain elicited in the capsaicin or sunburn models. The compound was well tolerated with no serious adverse events and with similar numbers of adverse events across treatment groups. Pharmacokinetic parameters were consistent with expectations.

16:31

KF Korea Fund institutes share repurchase program of up to 5% of its common shares outstanding as of Feb 22nd (34.28 +0.53)

16:30

URS URS reauthorizes stock repurchase program (46.79 +0.29)

The co announces that its Board of Directors approved an extension of the Company's common stock repurchase program. The program, which expired on January 1, 2010, is designed to offset the earnings per share dilution that results from the issuance of additional shares under the Company's equity incentive and employee stock purchase plans. Under the extended program, URS can repurchase up to one million shares of the Company's common stock plus the cumulative number of additional shares issued or deemed issued under the Company's equity incentive and employee stock purchase programs for the period from January 2, 2010 through December 28, 2012

16:30

QCOM Qualcomm increases quarterly dividend by 12% and announces new $3 bln stock repurchase program (35.56 -1.12) -Update-

Co announces that its Board of Directors has approved a 12% increase in its qtrly cash dividend and, effective immediately, a new $3.0 bln stock repurchase program to replace a $2 bln stock repurchase program. The cash dividend will increase from $0.17 to $0.19 per share of common stock and will be effective for quarterly dividends payable after March 28, 2010. This dividend increase will raise the annualized dividend payout to $0.76 per share of common stock.

16:30

PWAV Powerwave announces change of accounting for specified convertible debt (1.20 +0.03)

Co announced that it plans to reissue certain of its previously issued financial statements to revise the accounting treatment of its 1.875% convertible subordinated notes due 2024.

16:27

ESEA Euroseas misses by $0.10 (4.02 +0.10)

Reports Q4 (Dec) ($0.15), excluding charges, $0.10 worse than the First Call consensus of ($0.05); revenues fell 30.2% year/year to $16.5 mln vs the $12.6 mln consensus. Co said, "Beginning with Q1 of 2009, the co changed its accounting policy of drydocking costs from the deferral method, under which the co amortized drydocking costs over the estimated period of benefit between dry-dockings, to the direct expense method, under which the co expenses all drydocking costs as incurred. The co believes that the direct expense method is preferable as it eliminates the significant amount of time and subjectivity involved in determining which costs and activities related to drydocking qualify for the deferral method. When the accounting principle was retrospectively applied, net income for the year ended December 31, 2008 decreased by $2.2 and net loss for the quarter ended December 31, 2008 decreased by $0.3 mln, or $0.07 and $0.01 per share, respectively, basic and diluted.

16:22

SNBC Sun Bancorp appoints Robert Crowl as Executive Vice President and Chief Financial Officer (3.44 -0.05)

The co and its wholly-owned banking subsidiary, Sun National Bank, today announce that Robert Crowl was appointed executive vice president and chief financial officer (CFO) of the Company and the Bank. Previously, Crowl was executive vice president and chief operating officer of the $150 billion in assets Cleveland-based National City Corporation, which was acquired in December 2008 by PNC Financial Services Group.

16:21

NAVI NaviSite announces the promotion of Brooks Borcherding as President (2.99 -0.07)

16:18

SEH Spartech Corp announces plans for new facility in St. Louis (10.65 +0.46)

Co announced the formation of a new technology center in St. Louis, Missouri. The new facility will bring together their material development, product development and packaging technology centers into one location. The new Center will expand to an 80,000 to 100,000 square foot facility. Spartech plans to be operational in a facility in St. Louis by mid-summer 2010.

16:15

ICFI ICF International names Ronald Vargo Executive Vice President and Chief Financial Officer (23.75 +0.34)

The co announces that it has named Ronald Vargo to the position of executive vice president and chief financial officer effective April 1, 2010. He will replace Alan Stewart, currently executive vice president and chief financial officer, who previously announced that he would retire from the company at the end of March 2010. Mr. Vargo brings 30 years of experience as a financial and business executive to ICF International. Most recently, he was executive vice president and chief financial officer of EDS.

16:14

TIER Tier Technologies and Discovery Group reach agreement (7.69 +0.27)

The co and the Discovery Group, which beneficially owns 13.5% of the co's outstanding shares, today announced that they have entered into an agreement in connection with the Company's 2010 Annual Meeting of Stockholders to be held on April 8, 2010. Under the terms of the Agreement, Tier will reduce the size of its Board from nine to seven members, effective at the Annual Meeting. Current directors Daniel Donoghue and Michael Murphy, managing members of Discovery who were elected to the Company's Board last year, will serve the remainder of their current terms but will not stand for reelection. The Tier nominees will consist of the remaining seven current directors: Charles Berger, John Delucca, Morgan Guenther, Philip Heasley, David Poe, Ronald Rossetti and Zachary Sadek. As part of the Agreement, Discovery has agreed to vote its shares in support of the Board's nominees and the Company's proposals at the Annual Meeting. Following the Meeting, the Company will separate the roles of Chairman and Chief Executive Officer. In addition, the Company has agreed to reimburse Discovery for $175,000 of expenses incurred in connection with last year's proxy contest.

16:14

CHBT China-Biotics appointed Grayling as strategic investor relations advisor (17.32 +0.38) -Update-

Co announced that that it has appointed Grayling to develop and implement a comprehensive communications program to strategically position and raise the visibility of the Company's growth story, and explain its financial performance to shareholders, potential investors and the financial media.

16:14

DBRN Dress Barn beats by $0.08, reports revs in-line with two analyst estimate; raises FY10 EPS guidance above consensus (25.73 +0.87)

Reports Q2 (Jan) earnings of $0.37 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.29; revenues rose 73.1% year/year to $594.1 mln vs the $594.1 mln two est avg. Co raises guidance for FY10, sees EPS of $1.55-1.60, excluding non-recurring items, up from $1.40-1.50 previously, vs. the $1.53 consensus; wguidance assumes acomps up in the mid single digits. The Q4 increase was primarily due to the inclusion of Justice sales since the merger on November 25, 2009 to the close of the fiscal quarter. Comparable store sales for the quarter increased 10%. The increase was due to a comparable store sales increase of 5% and a 7% increase in average square footage versus the prior year. Net sales for Justice were $221.1 million since the merger on November 25, 2009. During this period, comparable store sales increased 19%. On a non-GAAP basis operating income increased to $47.8 million, or 8.1% of sales compared to a $2.4 million loss, or (0.7%) of sales in the prior year second quarter. This increase is primarily due to improved gross profit and leverage from increased comparable store sales.

16:14

TSCO Tractor Supply initiates quarterly cash dividend program for first time in co's history of $0.14/share (57.05 +2.33)

16:12

MDR McDermott beats by $0.01, misses on revs (23.80 +0.95)

Reports Q4 (Dec) earnings of $0.42 per share, $0.01 better than the First Call consensus of $0.41; revenues fell 12.3% year/year to $1.46 bln vs the $1.53 bln consensus.

16:11

CHBT China-Biotics inaugurated the commercial production of its new production facility (17.32 +0.38)

Co announces that its new bulk additive production facility has commenced commercial production in late Feb.

16:11

THG The Hanover Insurance Grp CEO enters into pre-arranged stock trading plan (42.64 +0.49)

Co announced that Frederick H. Eppinger, the company's chief executive officer, has entered into a pre-arranged stock trading plan. Under the plan, Eppinger is allowed to exercise up to 150,000 options to purchase The Hanover's common stock and to sell the shares upon the exercise of those options. The pre-arranged stock trading plan covers options granted to Eppinger when he joined the company in August of 2003.

16:10

HYC Hypercom misses by $0.01, beats on revs (3.60 +0.13)

Reports Q4 (Dec) earnings of $0.08 per share, $0.01 worse than the First Call consensus of $0.09; revenues rose 16.0% year/year to $117.4 mln vs the $113.3 mln consensus.

16:09

AMSF Amerisafe misses by $0.26, misses on revs (17.44 +0.23)

Reports Q4 (Dec) earnings of $0.32 per share, excluding non-recurring items, $0.26 worse than the First Call consensus of $0.58; revenues were unchanged from the year-ago period at $64 mln. The net combined ratio for the quarter ended December 31, 2009 was 96.7% compared to 73.7% for the same period in 2008. Loss and loss adjustment expenses for fourth quarter of 2009 were $42.7 mln, or 74.9% of net premiums earned, compared to $37.2 mln, or 51.8% of net premiums earned for the fourth quarter of 2008. Total underwriting expenses for the fourth quarter of 2009 were $12.2 mln, or 21.4% of net premiums earned, compared to $12.8 mln, or 17.8% of net premiums earned, for the fourth quarter of 2008. Return on average equity for the fourth quarter of 2009 was 8.5% compared to 8.4% for the fourth quarter of 2008. Gross premiums written in the fourth quarter of 2009 were $49.4 mln compared to $65.1 mln in the fourth quarter of 2008, a decrease of 24.2%. Voluntary premiums for policies written in the quarter decreased 11.8%, the effect of which was compounded by negative payroll audits and related premium adjustments for policies written in previous quarters.

16:09

QCOR Questcor Pharma beats by $0.04, beats on revs (4.75 +0.07)

Reports Q4 (Dec) earnings of $0.13 per share, $0.04 better than the First Call dual-analyst est of $0.09; revenues fell 4.1% year/year to $25.9 mln vs the $21.6 mln Dual-analyst est. Paid commercial Acthar prescriptions for MS up 223% over prior year quarter. Paid commercial IS prescriptions up 56% sequentially. Co also, Received initial set of nephrotic syndrome prescriptions- The modest set of prescriptions for NS in the fourth quarter was an unexpected development at this stage in our efforts to generate sales in this market," added Mr. Cartt. "NS is a devastating kidney disorder which leads to end-stage renal disease. NS is an on-label indication for Acthar and we are working to generate more clinical data to further support the effectiveness of Acthar in the treatment of this disease."

16:09

MBI MBIA Inc reports Q4 (Dec) results (4.80 -0.02)

Reports Q4 (Dec) loss of $1.16 per share, may not be comparable to the First Call consensus of ($1.11). MBIA Inc. recorded a net loss to common shareholders of $242.0 million, or $1.16 per share, for the fourth quarter of 2009, compared with a net loss of $1.2 billion, or $5.21 per share, for the fourth quarter of 2008. The Company estimated $777.4 million in additional credit impairments on its multi-sector CDO exposures in 2009. Although the Co's income statement includes the change in fair value (mark-to-market) of insured credit derivatives, it regards the changes in credit impairment estimates as critical information for investors since the credit impairment estimates reflect the present values of amounts it expects to pay in claims net of recoveries with respect to insured credit derivatives. Cumulative credit impairments on insured credit derivatives since the Company began estimating them in the fourth quarter of 2007 total $2.5 billion, consisting of $838.4 million in losses paid through December 31, 2009 and $1.7 billion in estimated credit impairments as of the same date. The estimated credit impairment amount on insured credit derivatives is analogous to case loss reserves on financial guarantee policies as both represent the present value of future expected loss payments net of recoveries. As of December 31, 2009, the Company carried a net derivative liability (the cumulative negative mark-to-market on insured credit derivatives) of $3.8 billion for all insured credit derivatives.

16:08

WRC Warnaco Group beats by $0.07, beats on revs; guides FY10 EPS in-line, revs in-line (42.97 +1.23)

Reports Q4 (Dec) earnings of $0.64 per share, $0.07 better than the First Call consensus of $0.57; revenues rose 13.5% year/year to $505.4 mln vs the $484 mln consensus. Co issues in-line guidance for FY10, sees EPS of $3.10-3.20 vs. $3.20 consensus; sees FY10 rev growth of 5-7%, sees revs ~$2.12-$2.16 bln vs. $2.13 bln consensus.

16:08

LHO LaSalle Hotel Properties announces launch of offering of 5,350,000 common shares (19.51 +0.10) -Update-

16:07

TNS TNS Inc beats by $0.02, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY10 EPS in-line, revs below consensus (24.00 +0.37)

Reports Q4 (Dec) earnings of $0.69 per share, $0.02 better than the First Call consensus of $0.67; revenues rose 69.5% year/year to $137.5 mln vs the $139.3 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.53-0.58 vs. $0.61 consensus; sees Q1 revs of $127.5-130.5 mln vs. $136.39 mln consensus. Co issues mixed guidance for FY10, sees EPS of $2.80-3.00 vs. $2.97 consensus; sees FY10 revs of $550-566 mln vs. $571.93 mln consensus.

16:07

ROVI Rovi Announces expanded data and patent license agreement With Comcast (33.43 -0.07)

Co announced that it has expanded its relationship with Comcast (CMCSA) to include Rovi's enhanced entertainment products as well as an expanded license under Rovi's patents across mobile, online, and other Comcast distribution platforms. In addition, Rovi has exited its GuideWorks joint venture with Comcast (CMCSA) and Comcast has become sole owner of GuideWorks. GuideWorks was formed in 2004 as a collaborative effort by the two companies to further develop an interactive program guide solution, now distributed by Rovi under its i-Guide brand.

16:06

BGS B&G Foods misses by $0.02, reports revs in-line (9.29 -0.02)

Reports Q4 (Dec) earnings of $0.14 per share, $0.02 worse than the First Call consensus of $0.16; revenues rose 0.5% year/year to $135.6 mln vs the $135.6 mln consensus. EBITDA for fiscal 2010 is expected to be approximately $106.0 to $109.0 mln. B&G Foods expects to make capital expenditures of approximately $11.0 mln in the aggregate during fiscal 2010.

16:06

UACL Universal Truckload Services announces filing of S-3 (17.58 -0.21) -Update-

Co announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC") to offer to the public from time to time in one or more offerings shares of its common stock, preferred stock, rights and warrants up to a total aggregate offering amount of $100,000,000. The securities will be offered at prices and on terms to be determined at the time of any such offering.

16:06

NTRI Nutrisystem beats by $0.05, beats on revs (18.87 -0.48)

Reports Q4 (Dec) earnings of $0.18 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.13; revenues fell 7.3% year/year to $106.2 mln vs the $102.2 mln consensus. Co said, "In the second half of 2009, we saw improvement in trends in revenue, new customers, gross margin as well as reduced G&A expenses. While we expect these trends to continue into 2010, their impact will be offset in the first quarter by higher media rates and one-time costs related to retail," said David Clark, Chief Financial Officer." For the full year 2010, we expect these pressures to subside, and anticipate a modest year-over-year profitability improvement." While the co intends to continue to pay regular quarterly dividends, the declaration and payment of future dividends are discretionary and will be subject to determination by the Board of Directors each quarter following its review of the Company's financial performance.

16:03

PNNT Pennant Investment announces a 5 mln share common stock offering (10.74 +0.54)

16:02

LTXC LTX-Credence announces proposed public offering of 14 mln shares common stock (2.83 -0.28)

16:02

RBNF Rurban Financial announces hiring of Anthony V. Cosentino as CFO Successor (6.90 0.00)

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