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

LHCG LHC Group signs definitive agreement to acquire Salem hospital home care (31.82 )

Co announced that it has signed a definitive agreement to acquire 100% of the assets of Salem Hospital Home Care located in Salem, Oregon. The primary service area of this acquisition spans six counties in Oregon. The estimated population of the service area is 1 mln, with almost 12% over the age of 65. Net revenue for the Salem, Oregon, agency during the most recent 12 months was ~$5.5 mln. This acquisition is expected to be completed on March 31, 2010, and is not expected to add materially to LHC Group's earnings in 2010.

07:02

GWW Grainger reports February 2010 sales results (107.56 )

Co reports sales results for the month of February 2010. Daily sales increased 12% vs February 2009. Results for the month included a 5% positive contribution from acquisitions, a 1% benefit from the sales of seasonal products and 2% contribution from foreign exchange. Excluding acquisitions, seasonal sales and foreign exchange, daily sales for the company increased 4%.

07:01

QLTI QLT Inc announces results from Phase II clinical trials and a device study for the punctal plug delivery system (4.93 )

Co announces results from Phase II clinical trials and a device study for the punctal plug delivery system. These studies are part of a development program that is being conducted by QLT's wholly-owned subsidiary, QLT Plug Delivery. QLTI also announced its plans to expand the program to evaluate a second drug for a new target indication. Recent clinical data on the third-generation punctal plug designs demonstrate a retention rate of 81%, based on available data from 185 eyes with 12 weeks of follow-up. Retention data are derived from a study of healthy volunteers testing several punctal plug prototype designs and from Phase II studies of the latanoprost punctal plug delivery system in patients with open-angle glaucoma or ocular hypertension, in which the third-generation prototypes were used. Punctal plug designs are continuing to be refined to maximize retention rates. The Company will provide an update on retention rate results by year-end. In parallel with the punctal plug device refinements, additional activities are focused on optimizing an insertion tool and development of a simple home-use detection system that would allow patients to confirm the presence of the punctal plugs. "Although we did not see the dose response in our on-going L-PPDS studies, we now know that there are multiple factors that affect drug delivery from a punctal plug and our research efforts for the latanoprost PPDS will be focused on addressing those factors. Building on that knowledge, the next step for this platform technology will be a clinical trial with olopatadine, a compound which targets ocular tissue on the surface of the eye."

07:00

ABT Abbott Labs receives U.S. FDA approval for new Cataract multifocal intraocular lens (54.42 )

Co announced it has received FDA approval for the TECNIS Multifocal 1-Piece intraocular lens for cataract patients with and without presbyopia.

06:39

CRZO Carrizo Oil & Gas beats by $0.05 (25.60 )

Reports Q4 (Dec) earnings of $0.37 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.32; revenues rose 3.6% year/year to $37.5 mln vs the $48.3 mln consensus. Adjusted revs, including hedges, were $50.6 mln. Production volumes during the three months ended December 31, 2009 were 8.7 Bcfe, 20 percent higher compared to 7.2 Bcfe during the fourth quarter of 2008. The increase was largely due to new production contributions from the Barnett Shale development. "We are looking forward to the beginning of the development of our Marcellus acreage position with our partner, Avista Capital, as we move from the land acquisition phase to the drilling phase in 2010."

06:36

GWR Genesee & Wyoming reported traffic volumes for February 2010 (33.53 )

Co reported traffic volumes for February 2010. GWI's traffic in February 2010 was 63,583 carloads, a decrease of 6,261 carloads, or 9%, compared with February 2009. GWI's traffic in the first quarter of 2010 through February was 127,445 carloads, a decrease of 13,184 carloads, or 9.4%, compared with the first quarter of 2009 through February.

06:34

FSIN Fushi Intl beats by $0.07, beats on revs; guides Q1 EPS in-line; guides FY10 EPS above consensus (11.42 )

Reports Q4 (Dec) earnings of $0.34 per share, $0.07 better than the First Call consensus of $0.27; revenues rose 25.8% year/year to $51.7 mln vs the $50.3 mln consensus, primarily due to a recovery in copper prices and continued strong demand across the board for our CCA products in China, particularly RF cable to support the ongoing 3G network buildout and expansion into the utility market. Volume at the Company's Dalian facility increased 27.1% as compared to the fourth quarter 2008. On a consolidated basis, the co experienced an increase of 18.0% in metric tons sold. Consolidated gross margin increased to 33.3% from 21.6% in the prior year period, driven by cost reductions in manufacturing at the Company's Fayetteville facility, product mix and the absence of extreme volatility in raw material prices experienced in fourth quarter 2008. Co issues in-line guidance for Q1, sees EPS of $0.22-0.24, excluding non-recurring items, vs. $0.22 consensus. Co issues upside guidance for FY10, sees EPS of $1.20-1.25, excluding non-recurring items, vs. $1.16 consensus. The 2010 first quarter is seasonally the co's weakest quarter due to the timing of the Chinese New Year, during which the Company's operating facilities are closed for two weeks. The Company expects profitability in subsequent quarters to improve over the first quarter due to higher revenues with the absence of the Chinese New Year, increased profitability at the Fayetteville facility as a result of cost saving initiatives, and continued incentives from China's stimulus package.

06:24

S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +2.30.

06:23

Asian Markets

Nikkei...10563.92...-3.70...0.00. Hang Seng...21208.29...+0.70...0.00.

06:23

European Markets

FTSE...5613.38...+11.10...+0.20%. DAX...5900.81...+15.30...+0.30%.

06:06

THM International Tower Hill Mines increases indicated resources at Livengood Gold Project, Alaska (6.48 )

International Tower Hill Mines (THM) announces the results of the updated independently prepared resource estimate for the Livengood gold project, Alaska. Data used in this resource update includes the final 64 drill holes completed in late 2009. Successful infill drilling targeted several previously un-estimated mineralized areas of the Northeast and Sunshine Zones of the deposit. Results are anticipated to have a positive impact on the strip ratio and mining economics (current low strip ratio of 0.8-1, waste-ore). The Money Knob deposit is still open in several directions (including at depth). Using a 0.5 g/t gold cut-off grade, the new estimate yielded an Indicated Resource of 9.3M ounces of gold and an Inferred Resource of 3M ounces of gold. Using a 0.7 g/t gold cut-off, which the Company envisions as a possible milling cut-off grade, the Indicated Resource is 5.8M ounces of gold and the Inferred Resource is 1.8M ounces of gold . Using a 0.3 g/t gold cut-off grade, which is approximately the average grade for the heap leach described in the Company's November, 30, 2009 heap leach PEA study, the Indicated Resource is 13.5M ounces of gold, and the Inferred Resource is 5M ounces of gold.

06:04

RMIX U.S. Concrete misses by $0.15, misses on revs (0.58 )

Reports Q4 (Dec) loss of $0.46 per share, excluding non-recurring items, $0.15 worse than the First Call consensus of ($0.31); revenues fell 30.9% year/year to $119.9 mln vs the $121.7 mln consensus.

06:04

DSGX Descartes reports Q4 EPS of $0.08 vs $$0.08 consensus, revs rose 20$ YoY to $18.9 mln vs $18.5 mln consensus (6.19 )

05:14

SOL ReneSola appoints Julia Xu as Chief Financial Officer (5.26 )

04:39

ESLT Elbit Systems misses by $0.03, misses on revs (59.50 )

Reports Q4 (Dec) earnings of $1.24 per share, $0.03 worse than the First Call consensus of $1.27; revenues rose 2.4% year/year to $714.7 mln vs the $761.5 mln consensus.

02:37

NYX NYSE Euronext announces trading volumes for February 2010 (28.62 )

Co announces trading volumes for its global derivatives and cash equities exchanges for February 2010. European derivatives volumes increased 44.2% and U.S. options trading volumes increased 56.4%. Cash equities trading volumes were mixed in February 2010, with European cash transactions increasing 9.1% and U.S. cash equities trading volumes declining 35.7% from prior year elevated levels. Both European and U.S. cash trading volumes, however, remain above fourth quarter 2009 levels.

01:53

On The Wires

Denbury Resources (DNR) announces that it has closed its acquisition of Encore Acquisition (EAC), entered into a new $1.6 bln 24-bank credit facility, and briefly extended its tender offers for Encore senior subordinated notes... Ness Technologies (NSTC) announces that it has been chosen by Raiffeisenbank as strategic partner and supplier of a Document Management System, which will run on the Documentum platform.

01:48

TRH Transatlantic Hldngs prices stock repurchase and secondary offering of AIG's remaining shares of TRH common stock (53.65 )

Co announces they will purchase 2 mln shares of its common stock from American Home Assurance in the offering pursuant to a stock offering agreement at a price of $52.52 per share, which is the initial price to the public in the offering. TRH also announces that an underwritten public offering of 8,466,693 shares of its common stock owned by AHAC, a subsidiary of AIG (AIG), was priced at a public offering price of $53.35 per share.

01:46

ROVI Rovi reports confirmation of a $2.4 bln tax loss from 2008 sale of TV Guide (35.82 )

Co announces the IRS has completed its review under its Pre-Filing Agreement Program of the tax loss recognized from the co's December 2008 divestiture of TV Guide Magazine. The co and the IRS executed a closing agreement which confirmed that ROVI recognized an ordinary tax loss of approx $2.4 bln from the TV Guide Magazine sale. As a result of signing the closing agreement with the IRS, the co anticipates recognizing a significant tax benefit in its 1Q10 GAAP financial statements. The benefit recognized will be net of any required valuation allowance. The co is currently evaluating what valuation allowance, if any, would be appropriate. The total Federal income tax cash benefit which could be realized from the $2.4 bln tax loss is approx $836 mln under current tax rules.

01:43

AGN Allergan: BOTOX receives FDA approval for treatment of upper limb spasticity in adults (61.35 )

Co announces the FDA has approved BOTOX for the treatment of increased muscle stiffness in the elbow, wrist and fingers in adults with upper limb spasticity.

01:42

OMAB Grupo Aeroportuario del Centro Norte reports February 2010 traffic (15.37 )

Co reports that terminal passenger traffic at its 13 airports decreased 12.5% in February 2010, as compared to February 2009. Domestic traffic decreased 13.4%, and international traffic decreased 8.7%.

01:39

BALT Baltic Trading prices 16.3 mln share IPO at $14.00/share

Co was expected to price IPO between $14-16 per share.

01:37

MON Monsanto Chief Technology Officer will discuss co's R&D efforts to increase farm productivity at Credit Suisse Global Agrochemicals Conference (71.28 )

The CTO's presentation will be available at http://www.monsanto.com/investors; presentation begins at at 3:05 a.m. C.T.

18:46

Futures are lower after hours with S&P 500 futures 0.08 points below fair value of 1139.88 and Nasdaq 100 futures 0.15 points below fair value of 1901.4

18:40

CLF Cliffs Natural Resources announces redemption of rights under shareholder rights plan; shareholder rights plan is effectively terminated immediately (5.23 +0.43)

Co announced that its Board of Directors has approved the redemption of the rights accompanying its outstanding common stock under its Shareholder Rights Plan. The Shareholder Rights Plan was set to expire by its terms on Oct. 29, 2011. With this action, the Shareholder Rights Plan is effectively terminated immediately. The Company will pay a redemption price equal to $0.001 per right in cash on June 1, 2010.

18:18

EROC Eagle Rock announces amendment to revolving credit facility in support of the recapitalization and related transactions (6.17 -0.04)

As part of this amendment, Eagle Rock management has agreed to make a mandatory repayment of debt of not less than $100 mln using the proceeds from the sale of its minerals business, that is contemplated in the Minerals Business Sale Agreement filed on Form 8-K with the SEC on December 21, 2009. Simultaneous with, and contingent upon the occurrence of, the proposed debt repayment, Eagle Rock management and its lender group have agreed to reduce the total committed capital under the Partnership's $971 mln credit facility by $100 mln, to $871 mln. The amendment did not involve a direct fee or changes to the credit facility's pricing.

18:06

EXLS pops 8.7% to $19.00 following earnings

18:01

PLD ProLogis prices $1.5 bln of senior notes (13.40 +0.29) -Update-

Co that it has priced an offering of $400 mln aggregate principal amount of 3.25% convertible senior notes due 2015. The co granted to the underwriters an option to purchase up to an additional $60 mln aggregate principal amount of convertible senior notes to cover over-allotments. In addition, the co announced that it has concurrently priced $1.1 bln aggregate principal amount of fixed-rate senior notes.

17:46

MGM MGM MIRAGE prices $845 mln in senior secured notes (11.54 +0.07) -Update-

Co announced that it has priced $845 mln in aggregate principal amount of its 9% senior secured notes due 2020 at par. The transaction is expected to close on March 16, 2010. The co plans to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its senior credit facility and related fees and expenses.

17:28

USGS reports 5.1 magnitude quake offshore Valparaiso, Chile

17:27

TDW Tidewater Announces Promotion of Jeffrey M. Platt as COO (47.30 +0.11)

Co announced that Platt joined Tidewater in 1996 as General Manager of Tidewater's business activities in Brazil. In November 2001, Platt was promoted to the position of corporate Vice President with responsibility for all of Tidewater's business activities in South America, Mexico and the Caribbean.

17:19

OLP One Liberty Properties announced that its Board of Directors has reinstituted its cash dividend policy (10.35 -0.01)

Co declared a quarterly cash dividend on the co's common stock of $.30 per share, 36% over the level of the quarterly dividends paid in 2009.

17:17

HBAN Huntington Banc reaffirms 2010 guidance in 8-K; says co expects to report a return to profitable quarterly performance at some time in 2010. Co says this would be earlier than most analysts expect (5.03 +0.07)

17:13

ADM Archer-Daniels announces pricing of tender offers for $500 mln of Its outstanding debt (30.64 -0.06)

17:11

SPLS Staples announces 9% increase in quarterly cash dividend to $0.09 from $0.0825 (22.98 +0.23)

17:10

JAH Jarden Corporation announces an increase in stock repurchase program of up to $150 mln (34.65 +0.38)

Co said this authorization increases the remaining capacity under its previously authorized $100 mln repurchase program, of which ~$52 mlnhad been utilized.

17:03

BRKR Bruker and Agilent Technologies announce agreement for Bruker to acquire certain Varian product lines (13.95 -0.36)

Co and Agilent Technologies (A) announced that BRKR and A have entered into a definitive asset purchase agreement. Pursuant to this agreement, BRKR will acquire certain product lines of Varian, which A has committed to divest in connection with obtaining regulatory approval for A's previously announced acquisition of Varian. The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close shortly after A completes its acquisition of Varian (which A anticipates to occur by April 30, 2010, following the completion of regulatory reviews and clearances). There is no financing condition to closing the transaction. Transaction pricing was not disclosed; the transaction is not material to Agilent. In connection with the transaction, A and BRKR also intend to enter into a transitional services agreement and a supply agreement to facilitate the uninterrupted delivery of high-quality products and services to new and existing customers of these three businesses.

17:03

RSYS RadiSys and Astute Networks entered into an original equipment manufacturer agreement (8.92 +0.12)

Astute Networks and RadiSys announced that the two companies have entered into an original equipment manufacturer (OEM) agreement to supply cutting-edge Advanced Telecommunications Computing Architecture (ATCA) solutions to communications and mil/aero customers worldwide. Under the partnership, the companies will provide integrated solutions based on RadiSys' Promentum ATCA chassis and server blade products and Astute Networks' edge storage blades, bundled with application-specific software. The combination of RadiSys' systems and product expertise, and Astute Networks' Caspian Edge Storage Blades, will provide an innovative product offering for demanding mission-critical network environments. The companies will market these combined solutions in the communications and mil/aero marketplaces.

17:01

BAS Basic Energy Services reports selected operating data for February 2010 (9.93 +0.04)

During the month, the co's well servicing rig count remained unchanged at 405 as of February 28, 2010. Well servicing rig hours for the month of February 2010 were 41,700 producing a rig utilization rate of 47%, an increase from 43% and 46% in January 2010 and February 2009, respectively. Drilling rig days for the month of February 2010 were 123 producing a rig utilization of 49%, an increase from 48% and 22% in January 2010 and February 2009, respectively. Basic's fluid services truck fleet increased to 792 trucks as of February 28, 2010.

17:01

AEO American Eagle resumes trading (17.15 +0.35) -Update-

16:59

AGN Allergan: FDA confirms approval of Botox to treat spasticity in flexor muscles of the elbow, wrist and fingers (61.35 -0.19) -Update-

16:52

FACT Facet Biotech: Abbott to acquire Facet for $27/cash (16.21 -0.30) -Update-

Abbott and the co announce definitive agreement for Abbott to acquire Facet, enhancing Abbott's early- and mid-stage pharmaceutical pipeline. Abbott will acquire Facet for $27 per share in cash for a net transaction value of approximately $450 million, which includes a purchase price of approximately $722 million less Facet's projected cash and marketable securities at closing of approximately $272 million... Under the terms of the agreement, Abbott will promptly commence a tender offer to purchase all outstanding shares of Facet Biotech at $27 per share. The closing of the tender offer is conditioned on the tender of a majority of the outstanding shares of Facet's common stock on a fully diluted basis and the satisfaction of regulatory and other customary conditions. The transaction has been approved on behalf of the boards of directors of Facet and Abbott. Approval of the transaction by Abbott's shareholders is not required. The transaction is expected to close in the second quarter of 2010. Abbott would expect to incur one-time specified charges following the closing of the acquisition, which will be defined at a later date. This transaction does not impact Abbott's previously issued ongoing earnings-per-share guidance for 2010. (stock is halted)

16:51

FACT Facet Biotech trading halted - news pending (16.21 -0.30)

16:51

AREX Approach Resources misses by $0.06 (9.62 +0.67)

Reports Q4 (Dec) earnings of $0.03 per share, excluding non-recurring items, $0.06 worse than the First Call consensus of $0.09; revenues fell 20.0% year/year to $14.6 mln vs the $13 mln consensus. Co sees 2010 production guidance of 8,900-9,400. Co said, "We currently are operating two rigs in Cinco Terry and one rig in Ozona Northeast. Average daily production for February 2010 was 22.6 MMcfe/d. Our 2010 capital budget for exploration and development expenditures currently is $53 million. We intend to fund 2010 capital expenditures, excluding any acquisitions, primarily out of internally-generated cash flows and, as necessary, borrowings under our credit facility. Approximately $48.5 million, or 92%, of the capital budget is allocated to our core development areas of operation in the Permian Basin, where we plan to drill 48 gross (24 net) wells in Cinco Terry and 36 gross (36 net) wells in Ozona Northeast."

16:45

ITMN InterMune resumes trading at $33.50 (23.30 unch) -Update-

16:37

STKL SunOpta reports Q4 adjusted EPS of $0.06, ex-items, vs. $0.03 First Call consensus; revenue was flat y/y to $245.5 mln (3.33 +0.03)

Co states that results for 4Q09 reflect significant improvement in operating performance versus 4Q08 and continued operating performance improvement versus 3Q09. Gross margins increased to 15.9% for the quarter versus 11.7% in 4Q08.

16:37

BPL Buckeye Partners announces that it is currently holding a non-binding open season through March 31, 2010 for its previously announced Union Pipeline project. (58.91 -0.44)

16:35

VRSK Verisk Analytics beats by $0.02, reports revs in-line (28.45 -0.58)

Reports Q4 (Dec) earnings of $0.32 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.30; revenues rose 14.5% year/year to $265.1 mln vs the $265.7 mln consensus. In Decision Analytics, co continues to see a strong performance from its mortgage analytics business, among others.

16:35

IMKTA Ingles Markets authorizes authorizes one million share repurchase program (14.60 -0.06)

16:34

IDCC Interdigital Comm signs Casio Hitachi mobile communications to worldwide 2G and 3G patent license agreement (26.86 +0.78)

Co announced that its patent licensing subsidiaries have entered into a worldwide, non-exclusive, patent license agreement with Casio Hitachi Mobile Communications, headquartered in Japan. The license agreement covers the sale by CHMC of all wireless end-user terminal devices, such as mobile handsets, computers, compliant with 2G and 3G cellular standards through the earlier of June 30, 2010 or the establishment of the announced mobile phone handset joint venture involving NEC, Casio Computer, and Hitachi Ltd. InterDigital expects to benefit from a one-time recognition of revenue related to past sales under this agreement and, based on the announced structure of the new joint venture, sales for covered products by the new joint venture will be included in InterDigital's total per unit royalty revenues once the new joint venture begins to operate. In addition, InterDigital has identified additional royalty obligations in a routine audit of an existing licensee. The new patent license agreement and resolution of the audit issues combined will add approximately $40 mln in royalty revenue between the first and second quarters of 2010. The allocation of this revenue will depend on final resolution of the accounting treatment.

16:31

OMG OM Group announces new $250 mln revolving credit facility (33.82 -0.73)

Co announced it has entered into a new $250 mln secured revolving credit facility with a syndicate of lenders, led by PNC Bank, N.A. The new facility replaces the previous $100 mln facility which was due to expire in December of 2010. The new, three-year revolving credit facility includes an "accordion" feature under which OMG may increase the availability by $75 mln to a maximum of $325 mln.

16:31

BEE Strategic Hotels & Resorts names Diane M. Morefield new CFO effective April 12, 2010 (3.72 +0.19)

16:31

AVAV AeroVironment misses by $0.02, misses on revs; guides FY10 revs below consensus (23.80 -0.97)

Reports Q3 (Jan) earnings of $0.30 per share, $0.02 worse than the First Call consensus of $0.32; revenues rose 16.7% year/year to $60.9 mln vs the $73 mln consensus. Co issues downside guidance for FY10, sees FY10 revs of $245.00 mln vs. $290.67 mln consensus. Co sees operating margins of 9-11%. Co said, The quarter produced 18% sequential growth over Q2, even though severe weather conditions limited acceptance testing of many Raven systems and the sales those systems would have generated. Continued weakness in the capital equipment markets for our EES products and delays in orders for Puma and Wasp unmanned aircraft systems also adversely impacted the quarter... The Raven systems that were not shipped in Q3 have already been shipped in Q4, contributing to what we expect to be record quarterly revenue for the co. However, because of the late signing of the 2010 Defense budget and extended government order processing time, most of the digital Raven purchase orders we expected to receive are still in the procurement process, and they are not likely to arrive in time to convert into Q4 revenue. We expect the delayed Raven orders to move into our FY2011, providing us with a strong foundation for achieving growth next year. Our fundamental market position, customer relationships and long-term growth prospects remain strong, yet I acknowledge the impact of order timing on our short-term results."

16:31

AEO American Eagle announces plans to close its MARTIN+OSA concept (17.15 +0.35)

The co announces that after an extensive evaluation and review of strategic alternatives, it plans to close its MARTIN+OSA concept, including all 28 stores and the online business. Although performance improved from fiscal 2008, management determined that the brand was not achieving performance levels that warrant further investment. In fiscal 2009, MARTIN+OSA generated an after-tax loss of approximately $44 million, including a non-cash impairment charge of approximately $11 million, net of tax. The company will focus its efforts and resources on the American Eagle family of brands including, AE, aerie and 77kids, which have a greater potential of creating long-term shareholder value... Store closures are expected to be substantially complete by the end of the second quarter of fiscal 2010. In conjunction with the closing of MARTIN+OSA, the company expects the fiscal 2010 cash outflow, net of associated tax benefits, to be approximately $10 to $40 million. This is comprised of pre-tax charges of $32 to $77 million for lease-related, severance and other charges. In addition, the company estimates approximately $29 million of non-cash, pre-tax impairment charges and inventory write-downs. These charges are expected to be recognized primarily over the first and second quarters of fiscal 2010. These estimates are preliminary and based on a number of significant assumptions and could change materially.

16:23

ITMN InterMune confirms that FDA advisory committee recommends approval with 9-3 vote of InterMune's Esbriet (pirfenidone) for idiopathic pulmonary fibrosis (23.30 0.00) -Update-

16:23

WNC Wabash Natl announced confirmation of a three year purchase agreement with Swift Transportation (5.04 +0.86)

Co announced confirmation of a three year purchase agreement with Swift Transportation Co., which calls for building 3,100 new DuraPlate HD dry vans over the next 12 months. Trailer production for the 3,100 units will begin at the end of March.

16:21

EQY Equity One announces offering of 4.2 million shares of common stock (19.02 +0.09)

16:20

ICFI ICF International beats by $0.06, beats on revs; guides Q1 EPS in-line, revs below consensus; guides FY10 EPS in-line, revs in-line

Reports Q4 (Dec) earnings of $0.37 per share, $0.06 better than the First Call consensus of $0.31; revenues rose 7.5% year/year to $174.1 mln vs the $168 mln consensus. Backlog was $1.4 bln at the end of 4Q09, comparable to backlog levels at the end of the prior quarter. Funded backlog was $536 mln, or 39.4% of the total. Co issues mixed guidance for Q1, sees EPS of $0.27-$0.30 vs. $0.30 consensus; sees Q1 revs of $170-$175 mln vs. $176.35 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.33-$1.43 vs. $1.40 consensus; raises FY10 revs guidance to $740-$775 mln vs. $759.19 mln consensus.

16:19

TM Toyota Motor responds to "inaccurate reports of future Prius recall for floormat entrapment" (76.67 -1.27) -Update-

Co says "Media reports, citing a Wall Street Journal article, have incorrectly reported that Toyota plans to announce a new recall for the 2004-2009 Prius to address the potential risk for floor mat entrapment of accelerator pedals. There is no new recall being planned for the Prius to address this issue. To be clear, the 2004-2009 Prius was part of Toyota's November 2, 2009 announcement of a voluntary safety recall campaign to address floor mat entrapment in certain Toyota and Lexus vehicles."

16:18

SAM Boston Beer Co misses by $0.06, misses on revs; guides FY10 EPS in-line

Reports Q4 (Dec) earnings of $0.52 per share, $0.06 worse than the First Call consensus of $0.58; revenues rose 2.3% year/year to $107.2 mln vs the $110.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.35-2.65 vs. $2.47 consensus.

16:17

CRME Cardiome Pharma reports Q4 EPS of $0.20 vs $0.05 First Call consensus; (5.63 +0.13)

The net income in Q4-2009 reflects recognition of revenue from our collaborative partner, Merck in the quarter, and lower research and development expenditures for Q4-2009 compared with Q4-2008.

16:17

DXCM Dexcom beats by $0.03, beats on revs (9.69 +0.02)

Reports Q4 (Dec) loss of $0.25 per share, included $16.4 million in non-cash expenses, $0.03 better than the First Call consensus of ($0.28); revenues rose 156.1% year/year to $10.5 mln vs the $9.4 mln consensus.

16:11

SPH Suburban Propane announces a $225 mln sr notes offering (47.11 -0.07)

16:10

AONE A123 Systems misses by $0.02, beats on revs; announces capacity increase (16.75 +0.00)

Reports Q4 (Dec) loss of $0.22 per share, $0.02 worse than the First Call consensus of ($0.20); revenues rose 3.8% year/year to $24.5 mln vs the $20.8 mln consensus. During the fourth quarter of 2009, transportation revenue was $11.3 million, electric grid revenue was $4.8 million and consumer revenue was $3.8 million, compared to a revenue mix of $7.6 million, $2.9 million and $10.9 million, respectively, in the fourth quarter of 2008. During the fourth quarter of 2009, A123 Systems recorded product shipments equivalent to 21.7 million watt hours, compared to 13.3 million in the year ago quarter. "We are today announcing a further capacity increase of 200 megawatt-hours, which is expected to increase A123's final cell manufacturing capacity to approximately 560 megawatt-hours when the new capacity moves into production. Demand is strong across our expanded portfolio of customers, and 2010 will be a year of focus on execution and establishing the foundation to support significant growth in 2011 and 2012 as customer programs are expected to move into full scale production."

16:09

HTGC Hercules Tech provides an additional $3.0 mln of capital to InfoLogix (IFLG) (10.25 -0.01)

Co announced that it has increased its commitment to grow the operations of InfoLogix (IFLG), a leading technology provider of enterprise mobility solutions for the healthcare and commercial industries. Hercules invested an additional $3.0 mln of capital to fund the launch of two new strategic product offerings with high growth potential.

16:08

PLX Protalix BioTherapeutics appoints Mr. Zeev Bronfeld interim chairman of the board of directors (7.12 -0.08)

16:07

EQT EQT Corp raises its 2010 production sales growth guidance from 20% to 26%; announces common stock offering (47.37 +0.27)

Co announces a 12.5 mln share common stock offering, pursunt to an effective shelf. EQT will use the net proceeds from the offering to accelerate development of its Marcellus and Huron/Berea plays. As a result, the co is raising its capital expenditures estimate for 2010 from $850 mln to $1.2 bln, excluding acquisitions. The company is also raising its 2010 production sales growth guidance from 20% to 26%. Consistent with the fact that most of the volumes associated with this investment will show up in late 2010 or in 2011, they would also expect that the growth rate in 2011 would at least match that 2010 growth rate. The revised CAPEX estimate for 2010 includes $900 mln for drilling wells, $260 mln for pipeline and compression to gather and transport the gas to markets and $40 mln for distribution infrastructure projects and other corporate items.

16:07

FLOW Flow misses by $0.01, beats on revs (3.28 +0.06)

Reports Q3 (Jan) loss of $0.01 per share, ex-items, $0.01 worse than the First Call consensus of ($0.00); revenues fell 6.8% year/year to $45.4 mln vs the $44.1 mln consensus. Co states, "While we feel that our business is stabilizing, we expect that, until the overall macroeconomic environment significantly improves, this stability will represent historically low levels."

16:06

ACAD ACADIA Pharmaceuticals reports Q4 results (1.41 +0.05)

ACADIA Pharmaceuticals reports Q4 earnings of ($0.23), which included charges of $1.3 mln in connection with ACADIA's restructuring announced in October, vs ($0.19) First Call consensus; revs increased over 450% to $1.8 mln vs $2.50 mln First Call consensus.

16:06

AONE A123 Systems signs battery system development agreement with Navistar (16.75 +0.00) -Update-

Co announces an agreement with Navistar (NAV) to develop lithium ion battery systems for electric vehicles for the Navistar Modec Electric Vehicle Alliance, a joint venture between Navistar and Modec. According to the agreement, A123 will develop battery systems for Navistar's EV and it is expected that these A123 battery systems will be manufactured in A123's Livonia, Mich. facility, slated to open in March 2010. Rather than converting an existing, conventional fossil fuel powered truck, Navistar's EV is a commercial electric vehicle that is purpose-built to be electric as it balances the needs of business and the environment. With zero tailpipe emissions, the Navistar EV can potentially reduce greenhouse gas emissions by as much as 10 tons annually, when compared to an equivalent diesel-powered vehicle.

16:05

AGO Assured Guaranty commences secondary public offering on behalf of Dexia SA (20.50 -0.25)

Co announced that it has commenced a secondary public offering of 16,400,000 AGL common shares owned by Dexia SA.

16:05

JCG J. Crew beats by $0.15, beats on revs; guides Q1 EPS at upper end of consensus; guides FY11 EPS above consensus (46.99 -0.41)

Reports Q4 (Jan) earnings of $0.61 per share, $0.15 better than the First Call consensus of $0.46; revenues rose 18.7% year/year to $460.6 mln vs the $443.1 mln consensus. Co issues guidance for Q1 at high end of consensus, sees EPS of $0.48-0.53 vs. $0.48 consensus. Co issues upside guidance for FY11, sees EPS of $2.20-2.30 vs. $2.13 consensus. Co reports Q4 comps of +17% vs +10.10% consensus; co guided for high single digit growth. Co reports Q4 gross margin of 43.9% vs 42.00% consensus; reported Q3 gross margin of 48.4%.

16:05

BIDZ Bidz.com misses by $0.01, misses on revs; guides Q1 revs below consensus (2.17 +0.09)

Reports Q4 (Dec) earnings of $0.01 per share, $0.01 worse than the First Call consensus of $0.02; revenues fell 21.7% year/year to $27.5 mln vs the $30 mln consensus. Co issues downside guidance for Q1, sees Q1 revs of $26-28 mln vs. $30.71 mln consensus, with gross pfoit margin of 24-26%. Gross margin in 4Q09 was 29.6%, within the Company's guidance range, compared with 34.4% in the same period of 2008. The decrease in gross profit as a percentage of sales was primarily due to lower gross margins from B2B revenues, partially offset by higher gross margins from the Company's online revenue. During the quarter, the Company reported B2B sales of $2.4 million, compared with no sales in the prior year period. Net revenues for the fourth quarter were adversely affected by the migration of the Company's proprietary enterprise operating system to a Microsoft Dynamics AX ERP system, due to some unexpected difficulties during the implementation. In the fourth quarter, the Company also saw improvements in its key revenue metrics. During the quarter, the average selling price per order increased over 11.8% to $189 from $169, average items sold per transaction increased approximately 28.7% to 4.3 items and the Company's acquisition cost per new buyer decreased by 9.4% to $48 from $51.

16:04

PSS Collective Brands beats by $0.08, beats on revs (23.96 +0.32)

Reports Q4 (Jan) loss of $0.18 per share, excluding non-recurring items, $0.08 better than the First Call consensus of ($0.26); revenues rose 0.9% year/year to $741.7 mln vs the $724.7 mln consensus. For 2010, co sees capital expenditures in 2010 are expected to total ~$100 mln and retail store count is expected to decline by ~15 stores, net of store openings. Co said, "Our results were strong as we delivered fresh, innovative product throughout our portfolio of brands both domestically and internationally. This focus on the consumer led to improved gross margins that, combined with actions that lowered operating costs, drove an 11% increase in adjusted operating profit for the year.

16:01

MITI Micromet announces 10 mln share proposed public offering of common stock (7.61 -0.32)

16:01

SAI SAIC: NASA extends Johnson safety and mission assurance contract (19.49 +0.16)

Co reports: NASA has exercised a $60 mln, one-year extension option for a contract with Science Applications International Corporation of Houston to provide support to safety and mission assurance activities at the agency's Johnson Space Center.

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