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

Sep 16, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 16-Sep-10 09:00 ET

08:56

EMN Eastman Chem raises Q3 and FY10 EPS guidance above consensus (66.93 )

Co raises guidance for Q3 (Sep), sees EPS of $2.00-2.10, excluding a $0.20 insurance claim benefit, vs. $1.75 Thomson Reuters consensus, up from $1.65-1.75 previously. This continued strong performance is due to selling prices remaining solid reflecting high industry capacity utilization rates, and a seasonal decline in sales volume being less than expected. Co raises guidance for FY10 (Dec), sees EPS approaching $7.00 vs. $6.46 Thomson Reuters consensus, up from $6.20-6.40 previously.

08:52

FFHL Fuwei Films reports sales in BOPET films (1.03 )

Co stated "In July and August the average sales price of Fuwei Films has increased over 10% compared with the first half of this year. Certain products have seen price increases of over 20% compared to the first six months of 2010. Due to high demand, Fuwei Films is at high production levels for its products. Due to improved market conditions, the company expects the financial results of the second half of 2010 to be increased compared with the first six months of the year."

08:45

CCME China MediaExpress approves a share repurchase program for up to $30 mln of its common stock effective immediately and remains in effect for 1 yr (7.83 )

08:41

PGR Progressive reports Aug net income per share of $0.10 up 23% YoY; Net premiums written of $1.15 bln flat YoY; Combined ratio of 93.1% vs 95.5% last year (20.75 )

08:36

HTZ Hertz Global subsidiary to offer $300 mln of senior notes due 2018 (10.71 )

Co intends to use the proceeds from the offering of the notes for general corporate purposes, which may include repayment of consolidated indebtedness or funding a portion of the cash consideration for the acquisition of Dollar Thrifty

08:35

On the Wires

Capstone Turbine Corporation (CPST) received an order for a C1000 Power Package for a carbon-neutral data center in Melbourne, Australia...Celanese Corporation (CE) will increase prices for the following products in the amounts detailed below effective October 1, 2010, or as contracts allow: Acetic Acid $0.02/lb; Acetic Anhydride $0.04; Vinyl Acetate Monomer $0.02; Ethyl Acetate $0.05; MIBC $0.02; Paraformaldehyde $0.02.

08:32

NPSP NPS Pharm announces pricing of public offering of 6.88 mln shares of common stock at $6.00 per share (6.61 )

08:32

ICLK interCLICK has secured a $15 million loan and security agreement (4.14 )

Co announces it has secured a $15 mln loan and security agreement with Silicon Valley Bank, the primary subsidiary of SIVB. The co also announced it will be using bank's cash management services for the majority of its operating needs, effective immediately.

08:31

TDSC 3D Systems acquires Express Pattern; terms not disclosed (14.43 )

08:31

SAPX Seven Arts Pictures acquire additional shares in Seven Arts Pictures Plc (0.85 )

Seven Arts Pictures, a private company controlled by Seven Arts' CEO Peter Hoffman and a principal shareholder of Seven Arts Pictures Plc (SAPX), announced that it has agreed to continue its purchase of shares of SAPX between now and September 30, 2010, subject to market conditions

08:31

RIG Transocean announces proposed senior notes offering; also filed mixed securities shelf offering (59.78 )

Co intends to use the net proceeds from this offering to fund the expected repurchase of its 1.625% Series A Convertible Senior Notes due December 2037 that holders of the Series A Convertible Senior Notes may require it to repurchase in December 2010 and to fund the intended repurchase of a portion of its 1.50% Series B Convertible Senior Notes due 2037 and its 1.50% Series C Convertible Senior Notes due December 2037 through repurchases in the open market, in privately negotiated transactions or in tender offers.

08:20

GRS Gammon Gold revises cost guidance downward and confirms production guidance at ocampo, reports preliminary production and cash costs for July and August (7.31 )

Co announces co is reducing its cost guidance for 2010. Total Ocampo cash costs for 2010 are now expected to be between $410-435 per gold equivalent ounce down from previous guidance of $425-450. Co confirms its 2010 production guidance. Co expects the Ocampo mine to produce between 100-110K ounces of gold and 4.40 and 4.95 mln ounces of silver, or 180-200K gold equivalent ounces. Prior to the suspension of operations in early June, production from El Cubo in 2010 was 20,596 gold equivalent ounces at total cash costs of $755 per gold equivalent ounce. For July and August the Ocampo mine reported production of 18,261 gold ounces and 794,531 silver ounces, or 32,707 gold equivalent ounces. Total cash costs for July and August at Ocampo were $407 per gold equivalent ounce. Utilizing Ocampo's silver revenues as a by-product cost credit, total cash costs were negative $82 per gold ounce. Year to date Ocampo total cash costs are $421 per gold equivalent ounce. Utilizing Ocampo's silver revenues as a by-product cost credit, total cash costs are negative $32 per gold ounce.

08:09

On the Wires

ISTA Pharmaceuticals (ISTA) announces that it has initiated a Phase 3 clinical program of ISTA's proprietary formulation of REMURA (bromfenac ophthalmic solution for dry eye) for alleviating the signs and symptoms of dry eye disease...An affiliate of Navistar International (NAV) and Anhui Jianghuai Automobile (JAC) signed a joint venture agreement to develop, build and market advanced diesel commercial engines in China...Scientific Games (SGMS) announced that Illinois Governor Pat Quinn has selected Northstar Lottery Group as the private manager for the Illinois Lottery for a ten-year term. Northstar is a joint venture between Scientific Games and GTECH Corporation, a subsidiary of Lottomatica Group S.p.A. (LTO.MI). Scientific Games will have a 20% equity interest in the joint venture...Akorn (AKRX) confirms FDA has granted approval of the its Erythromycin Ophthalmic Ointment USP 1 g as a supplement to the already approved Abbreviated New Drug Application for Erythromycin Ophthalmic Ointment USP 3.5 g. Co has begun shipping the product to its customers. The annualized U.S. sales for Erythromycin 1 g based on second quarter 2010 data were ~$23 million...SPX (SPW) announces it has entered into an agreement with Toyota Motor (TM) to supply a new Vehicle Interface Module for the Toyota Diagnostic tool, which will be developed as a global tool and utilized as an approved diagnostic repair solution for Toyota dealers.

08:07

UEPS Net 1 UEPS Techs to acquire KSNET, a Republic of Korea payment processing company for ~$233 mln; expects to be immediately accretive to fiscal 2011 fundamental earnings (11.02 )

08:05

WFT Weatherford announced it has commenced an offering of sr notes; net proceeds are expected to be used to fund the purchase price for the cash tender offer for up to $700 mln of the outstanding 6 5/8% Senior Notes (16.49 )

08:02

CSTR Coinstar unit Redbox announced that it has signed agreements with EZ Mart Stores, Fastrac Markets, Murphy Express and VPS Convenience Store Group (41.52 )

08:02

OCNW Occam Networks to be acquired by CALX for stock and cash, valued at ~$171 mln, or ~$7.72 per share, a ~46% premium based on last night's close; CALX sees deal accretive in 2Q11 (5.29 )

CALX announces that it will acquire Occam Networks (OCNW) in a stock and cash transaction valued at ~$171 million, which is ~$7.75 per outstanding share of OCNW. Upon the completion of the acquisition, each outstanding share of OCNW common stock will be converted into the right to receive a) $3.8337 per share in cash, without interest plus b) 0.2925 of a validly issued, fully paid and non-assessable share of CALX common stock (calculates to ~$7.72 per share based on last night's CALX closing price, a ~46% premium). After the completion of the acquisition, former OCNW stockholders will own between 16.5-18.9% of the outstanding shares of Calix's common stock based on the number of Calix shares outstanding as of September 15, 2010. It is anticipated that the acquisition will be accretive to Calix's non-GAAP earnings per share in the second quarter of 2011. Call starts at 8:30 ET.

08:02

HH Hooper Holmes appoints Ransom Parker President and CEO (0.58 )

Co announces the appointment of Ransom Parker as Pres and CEO and a member of the Board of Directors. In his most recent position as principal of Cerulean Advisors he has provided strategic, financial and operations guidance to healthcare IT, medical device and life science companies.

08:01

FOH Frederick's of Hollywood to explore strategic alternatives for wholesale division (1.00 )

Co announced that it is in the process of identifying strategic alternatives for its wholesale division, Movie Star. Investment banking firm, Avalon Group, based in New York, will be assisting the Company in identifying available strategic alternatives. Co has not set a definitive timetable for completing a transaction involving the Movie Star wholesale division and there can be no assurances that the process described above will result in the completion of any transaction.

08:01

ARSD Arabian American Developmnt receives $85 mln bridge loan for Saudi mine development and provides update on isomerization unit construction (2.37 )

Co updates AMAK status: receives total bridge loan in the amount of $85 million; signed a five-year contract for the underground development and production work at the mine, valued at $125 million; Mobilization will be completed and construction of the ventilation air raises will begin by the end of 2010; contract calls for full capacity production at the 700K ton annual rate by the fourth quarter of 2011. Isomerization unit update: near completion; South Hampton is also adding an additional Hexane treater to finalize expansion of C6 products and expects this to be operational in six weeks.

08:01

NBY NovaBay Pharma reports positive results for new class of anti-infectives (4.11 )

The presentations included new data from studies of NovaBay's Aganocide compounds, which indicated that NovaBay's Aganocide compounds are highly effective against bacteria, including some multi-drug resistant strains, viruses and fungi in preclinical testing. Co stated "In our 1st poster we demonstrated their ability to inhibit harmful bacteria in biofilm inside urinary catheters; our 2nd poster confirmed their dual antimicrobial/anticoagulant properties; in our 3rd poster we displayed antiviral activity against the H1N1 influenza virus in cell culture studies; and in our 4th poster our research indicated that these compounds are effective in killing pathogens such as P. aeruginosa and S. aureus without harming dermal and ocular tissues."

08:01

CLU Cellu Tissue to be acquired by Clearwater Paper (CLW) for $12.00 per share in cash (7.91 )

Co announces it has entered into a definitive merger agreement with CLW to which it would acquire all of the outstanding common stock in an all-cash transaction which values the co at ~$502 mln, including ~$255 million of debt. Under the terms of the agreement, the co's stockholders will receive $12.00/share in cash for each share of common stock they own, representing a premium, based on the closing price on 9/15/10, of ~52.6% over the 30 day average closing trading price. The transaction is expected to close in Q4.

08:00

ECONX Switzerland National Bank Leaves rates unchanged at 0.25%, as expected

08:00

ASEI American Science & Engineering receives $10 mln service and maintenance order from U.S. Gov for ZBV military trailers (72.73 )

07:55

HNP Huaneng Power receives an undertaking for avoidance of business competition from China Huaneng Group (23.92 )

Co announced that recently, Huaneng Power International received from its controlling shareholder, China Huaneng Group, an undertaking on relevant matters for further avoidance of business competition by Huaneng Group (Letter of Undertaking). The Letter of Undertaking stated that in order to support the business development of, integrate relevant quality assets and avoid business competition with, Huaneng Power International, Inc., Huaneng Group and Huaneng International Power Development Corporation had previously given a non-compete undertaking to the Company. Relevant disclosure was made in the prospectus for the initial public offering of A Shares of the Company, and following the listing of the Company on the Shanghai Stock Exchange, in the annual reports and other relevant announcements for information disclosure.

07:52

WIRES On the Wires

Marcus Theatres (MCS) to Install Digital RealD 3D Systems in Three Additional 70-Foot-Wide UltraScreens...Heeling Sports, parent company of Heelys (HLYS) announces the hiring of Japan-Asia Strategies and its principal to further develop and optimize its business in the Asia Pacific Region...Claude Resources (CGR) Chairman Josef Spross announces retirement...Northgate Minerals (NXG) intersects highest grade-thickness interval of 3.37 grams per tonne gold and 0.95% copper over 60 metres at its Kemess Underground Project.

07:42

INCY Incyte announced results from a Phase I/II study of Incyte's JAK inhibitor demonstrated marked and durable clinical benefits in patients with myelofibrosis (14.03 )

Co announced yesterday after the close that results from a Phase I/II study of Incyte's janus kinase (JAK) inhibitor with the investigational name INCB18424 (also known as INCB018424 and INC424) were published in The New England Journal of Medicine. The Phase I/II study of 153 patients showed that 70% to 82% of myelofibrosis patients receiving oral INCB18424 twice daily experienced 25% or more reduction in palpable spleen size which was durable for more than one year of follow-up. More than half of subjects treated with an optimized dose regimen which began with 15 mg twice daily achieved at least a 50% reduction in palpable spleen size. Incyte retained rights for the development and potential commercialization of INCB18424 in the US and out-licensed the compound to Novartis for development and potential commercialization outside the US.

07:40

CLH Clean Harbors revises FY10 Revenue Higher; Reduces Debt Balance (66.03 ) -Update-

Co updated its 2010 revenue and EBITDA guidance in conjunction with its 2010 Investor Day being hosted in New York City. The Company also announced that it will reduce its debt balance by $30 million on September 28, 2010 through a partial redemption of outstanding senior secured notes. The Company is upwardly revising its 2010 revenue and EBITDA guidance to reflect the effect of additional emergency response activities in the third quarter. For 2010, Clean Harbors now expects full-year revenue in the range of $1.63 billion to $1.68 billion, compared with prior revenue guidance of $1.60 billion to $1.65 billion. The Company also is now forecasting 2010 EBITDA in the range of $278 million to $288 million for the full year, compared with prior EBITDA guidance of $270 million to $280 million. The Company's revised guidance for 2010 is exclusive of the impact of any emergency response related work beyond the third quarter. The Company also announced that it is increasing its capital spending expectations for 2010 from the mid-$80 million range to $100 million.

07:38

EWA Australia Consumer Inflation Expectation for Sep 3.1% vs 2.8% Aug (23.41 )

07:37

IMAX IMAX and Kinopark announce agreement to install three IMAX theatre systems in Kazakhstan, beginning in Nov 2010 (14.58 )

07:34

TYL Tyler Tech to provide its Munis ERP solution, in agreements valued at $2.3 mln, to two school districts in California (19.08 )

07:33

FDX FedEx misses by $0.01, reports revs in-line; guides Q2 EPS below consensus; raises FY11 EPS to in-line; combines Freight and LTL ops. (85.94 )

Reports Q1 (Aug) earnings of $1.20 per share, $0.01 worse than the Thomson Reuters consensus of $1.21; revenues rose 18.1% year/year to $9.46 bln vs the $9.38 bln consensus. Earnings increased as a result of strong FedEx International Priority growth at FedEx Express, continued growth at FedEx Ground and a benefit from the net impact of higher fuel surcharges. The reinstatement of certain employee compensation programs, higher pension, medical and aircraft maintenance expenses, and an operating loss at FedEx Freight dampened the quarter's solid results. Co issues downside guidance for Q2, sees EPS of $1.15-1.35, excluding non-recurring items, vs. $1.36 Thomson Reuters consensus. Co raises EPS guidance to in-line for FY11, sees FY11 EPS of $4.80-5.25, excluding non-recurring items, vs. $5.22 Thomson Reuters consensus, up from $4.60-5.20 previously. FedEx will combine its FedEx Freight and FedEx National LTL operations effective January 30, 2011. This action will increase efficiencies and reduce operational costs and cost $150-200 mln.

07:32

CYTX Cytori Therapeutics extended the term and modified the focus of its current distribution agreement with GE Healthcare (4.87 )

Co has extended the term and modified the focus of its current distribution agreement with GE Healthcare. This agreement is specific to the Celution(R) 800 and StemSource Systems. The agreement does not cover any other therapeutic applications or the PureGraftTM System.

07:31

GRM Graham Packaging subsidiary to offer $250 mln in sr unsecured notes (11.70 )

07:07

ALKS Alkermes stock trading halted today (14.22 )

Co announces that NASDAQ has halted trading of its common stock this morning. The Psychopharmacologic Drugs Advisory Committee appointed by the FDA meets today to review the company's supplemental New Drug Application for VIVITROL for opioid dependence.

07:06

COMDX The continuous gold futures contract has put in a new all time high this morning at $1276.00; now up $8.30 to $1275.40

Dec gold futures are trading higher by $8.30 to $1277.00.

07:05

On the Wires

WABCO Holdings (WBC) announced the five-year extension of its long-term supply agreement with Cummins (CMI) to furnish air compressors for applications in trucks and buses worldwide...ICF International (ICFI) has been awarded two multi-year contracts totaling $9.2 mln to support two major U.S. utilities...Shiner International (BEST) announces that it has received its sixteenth National Invention Patent covering the product and production process for its proprietary bi-axially oriented polypropylene film with superior-strength heat seal properties...Ku6 Media (KUTV) announced that it has reached content cooperation agreements with Sony (SNE) Pictures Television and another major Hollywood studio. Those agreements make Ku6 the first Chinese local video portal to acquire legitimate copyright content from major Hollywood studios...Shanda Games (GAME) and Square Enix announced a strategic partnership that will leverage Square Enix's strong game content with the "strength of Shanda ames' broad experience as a leading online game developer, publisher, and operator in mainland China.

07:03

AZK Aurizon Mines acquires option on Azimut and Everton Opinaca property (6.35 )

Co announces the signing of a letter of intent with Azimut Everton, whereby Aurizon can acquire up to an undivided 60% ownership interest in the Opinaca property located in Quebec. Co can earn a 50% interest in the project by making cash payments totalling $580,000 and incurring expenditures of $6 mln over four years, including 5,000 metres of drilling by the second anniversary.

07:01

BKC Burger King 3G Capital Commences Tender Offer for All Shares of Burger King Holdings, Inc. at a price of $24 per share (23.72 )

Co and 3G Capital today announced that an entity controlled by 3G Capital, Blue Acquisition Sub, Inc., has commenced the previously-announced tender offer for all of the outstanding shares of common stock of Burger King Holdings, Inc. at a price of $24.00 per share, net to the seller in cash without interest. The tender offer and withdrawal rights are scheduled to expire at midnight, New York City time, on Thursday, October 14, 2010, unless extended or earlier terminated.

07:01

MOT Motorola acquires Aloqa GmbH; terms not disclosed (8.36 )

07:01

NRG NRG Energy acquire Green Mountain Energy (21.66 )

Co announces agreement to acquire Green Mountain Energy. Green Mountain will be run as a standalone business within NRG. This acquisition, with an anticipated annual EBITDA contribution of $70 million, is immediately accretive to EBITDA and free cash flow. Co anticipates funding the transaction with cash on hand upon transaction close, which is expected by mid-November.

06:54

S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -0.80.

06:54

Asian Markets

Nikkei...9509.50...-7.10...-0.10%. Hang Seng...21691.45...-34.20...-0.20%.

06:54

European Markets

FTSE...5546.94...-8.60...-0.20%. DAX...6261.06...-0.70...0.00.

06:50

AZC Augusta Resource announces minority JV with Korean consortium whereby consortium acquire 20% interest in copper molybdenum project in consideration for funding $176 mln of the project expenses (3.08 )

Co enters into an Earn-In Agreement with a Korean consortium, the members of which are Korea Resources Corporation and LG International (together "KORES/LGI"), whereby KORES/LGI shall acquire a 20% joint venture interest in the Rosemont copper molybdenum project in Pima County, Arizona in consideration for funding $176 mln of the project expenses. $70 mln will be advanced to fund development pre-permitting and $106 will be advanced to fund construction. As funds for the Investment are advanced, KORES/LGI will earn their proportionate interest in the joint venture.

06:43

BCRX BioCryst Pharm reports positive results from a phase 2 study of BCX4208 combined with Allopurinol in patients with gout (5.10 )

Co announces positive top-line results from its randomized, double-blind, multi-center, placebo-controlled Phase 2 study designed to evaluate the urate-lowering activity and safety of several doses of BCX4208 alone and in combination with selected doses of allopurinol administered once-daily.

06:36

PIR Pier 1 Imports beats by $0.01, reports revs in-line (7.96 )

Reports Q2 (Jun) earnings of $0.12 per share, $0.01 better than the Thomson Reuters consensus of $0.11; revenues rose 8.1% year/year to $309.9 mln vs the $310.1 mln consensus. Q2 comps +11.2% YoY; merchandise margins of 58.3% vs 52.0% in 2Q10.

06:12

VRSK Verisk Analytics files registration statement for proposed secondary public offering (28.42 )

Co announces it has filed a registration statement with the SEC for a proposed public offering of Class A common stock. Selling stockholders intend to offer $500 mln of Class A common stock, including current shares of Class B common stock that will be converted to Class A common stock as part of the offering.

06:11

LLEN L&L Energy commissions special task force to evaluate potential appointments of auditors (7.29 )

06:09

BK Bank of NY appointed as depositary bank by JSC RusHydro (25.68 )

06:05

HGRD Health Grades Extends tender offer and modifications to merger agreement (8.18 )

Co announces extension of the offer period for the previously announced tender offer for all of the outstanding shares of common stock for $8.20/share in cash.

05:09

DIGA Digital Angel: PositiveID (PSID) presents offer to acquire Digital Angel at 60% Premium (0.39 )

PositiveID announces that it has presented an offer to the DIGA board of directors to purchase all the outstanding shares of common stock for $0.60/share, representing a 60%premium to DIGA average closing price for the 20 trading days ending on 9/14/10. Based upon this price, PSID proposes to exchange 0.67 share of its common stock for each outstanding share of DIGA. The merger is expected to be immediately accretive to PSID.

01:22

LPNT Lifepoint Hospitals announces $150 mln stock repurchase program (36.69 )

Co announces it has authorized a new stock repurchase program that will allow for repurchases of up to $150 mln of its common stock over the next 18 months. Under the co's previously announced repurchase program it has repurchased ~$45 million of common stock through 6/30/10.

01:20

EVR Evercore prices class a common stock offering (27.75 )

Co announces public offering of 2,641,060 shares of its Class A common stock at a public offering price of $27.50/share.

01:15

AAWW Atlas Air Worldwide wins second aircraft agreement with Panalpina Air & Ocean extending long-term relationship (48.25 )

Co announces agreement to place a second Boeing 747-400 freighter with Panalpina Air & Ocean. Under the multi-year agreement, co will provide ACMI (aircraft, crew, maintenance and insurance) services to Panalpina. It is set to begin operating in early October.

01:14

INT World Fuel Svcs prices common stock offering (25.63 )

Co announces the pricing of an underwritten public offering of 8 mln shares of its common stock at a price to the public of $25.00 per share.

01:09

Y Alleghany Corporation prices $300 mln of 5.625% senior notes due 2020 (303.25 )

01:04

BA Boeing responds to public reports on WTO decision (62.73 )</p>

Co releases statement regarding reports that the WTO panel examining European Union allegations of U.S. government assistance to co has issued a confidential interim ruling rejecting the vast majority of Europe's claims. "If today's reports are accurate that some $3 billion of the EU's claims were upheld by the WTO, excluding the claims that relate to past programs long ago remedied by Congress, then the ruling amounts to a massive rejection of the EU case and confirms that European launch aid to Airbus stands as the single largest and most flagrant illegal subsidy in the aerospace industry."

18:34

APOG Apogee Enterpr misses by $0.09, reports revs in-line; guides FY11 revs above consensus (9.54 -0.06)

Reports Q2 (Aug) loss of $0.18 per share, $0.09 worse than the Thomson Reuters consensus of ($0.09); revenues fell 22.8% year/year to $144.7 mln vs the $145.4 mln consensus. Co issues upside guidance for FY11, sees FY11 revs down 15% from last year, which calculates to ~$592.2 mln vs. $587.28 mln Thomson Reuters consensus. Co anticipates a loss for the second half of the year as expected earnings in its large-scale optical segment will be unable to offset architectural losses. Co expects to have positive cash flow from operations in the second half of the year.

18:28

EEP Enbridge Energy Partners Update: Line 6A prepared to restart this Friday (52.56 -0.44)

Co announced it has completed repairs to Line 6A and is preparing to safely return the pipeline to service Friday morning, Sept. 17.

18:14

GLD December gold is just above the unchanged line after hours; currently $0.60 at $1269.30 per ounce

18:13

USO October trading oil is trading lower in after hours trade; currently -$0.37 at $75.65 per barrel (33.49 -0.40) -Update-

18:12

Futures are higher after hours: S&P 500 futures are +0.75 from fair value of 1119.95 and Nasdaq100 futures +2.06 points from fair value of 1937.44

18:07

DGI DigitalGlobe announces the pricing of secondary offering of its common stock by selling shareholders at $30.25 (30.60 -0.77)

Co announced that an underwritten secondary public offering of 6,000,877 mln shares of its common stock owned by certain of its shareholders, including Morgan Stanley, was priced on September 15, 2010 at a public offering price of $30.25 per share. Morgan Stanley has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of DGI's common stock to cover over-allotments, if any. DGI will not receive any of the proceeds from the sale of shares of its common stock.

18:03

AHT Ashford Hospitality Trust announced it has priced an underwritten offering of 3.3 mln shares of its 8.45% Series D Cumulative Preferred Stock at $23.178 per share (8.99 +0.08)

The annual dividend for the preferred stock is $2.1125 per share, payable quarterly. The offering is expected to close on or about September 22, 2010.

17:55

APD Air Products comments on Airgas' attempt to invalidate Airgas shareholder vote on by-law amendments (81.38 +1.17) -Update-

Co issued the following statement in response to litigation filed today by ARG. ARG is attempting to invalidate a vote of its own shareholders who today approved a set of by-law proposals, including a new by-law requiring ARG to hold its next annual meeting in January 2011. "Airgas' lawsuit is completely without merit. Today the Airgas shareholders determined the date of the next ARG annual meeting."

17:34

ETE Energy Transfer Equity announces pricing of senior unsecured notes; due to favorable market conditions, the size of the offering was increased to $1.8 bln from $1 bln (37.10 +0.25) -Update-

Co announced the pricing of $1.8 bln aggregate principal amount of its 7.500% senior unsecured notes due 2020. The sale of the notes is expected to settle on September 20, 2010, subject to customary closing conditions.

17:33

BRE BRE Properties announces pricing of senior notes due 2021 (42.67 +0.66)

Co announced the pricing of its underwritten registered public offering of $300 mln aggregate principal amount of senior notes due 2021 (the "2021 Notes Offering"). Interest on the notes is payable semiannually on March 15 and September 15; the notes will mature on March 15, 2021. The notes were issued at 99.809% of par value, with a coupon of 5.200%.

17:16

FSC Fifth Street Finance released its September newsletter (10.52 +0.08)

Co said, "the M&A wave is here We are finally seeing the wave of M&A transactions that we have been anticipating. For Q4 to date, we closed $105.4 mln of first lien loans. The $105.4 mln of closed transactions thus far this quarter, combined with our strong pipeline, continues to make us confident that FSC can support stable distributions to its shareholders and that the shortfall in earnings this quarter will be a one quarter event."

17:13

SIVB SVB Financial Group prices $350 mln, 5.375% senior notes offering; the notes will be sold at 99.300% of the principal amount; offering is expected to close on Sept 20, 2010 (41.24 +0.22)

17:06

ABT Abbott Statement on the FDA Advisory Committee Recommendation on Sibutramine (51.66 +0.25)

ABT reported that the U.S. FDA held an Endocrinologic and Metabolic Drugs Advisory Committee to review the results of SCOUT (Sibutramine Cardiovascular OUTcome Trial) and the weight loss medication sibutramine (sold as Meridia in the U.S.). In response to the Advisory Committee's mixed vote, Abbott (ABT) issued a statement... part of it follows: Co said, "Today's vote highlights the complexity of this scientific debate. We continue to believe that there are appropriate and identifiable patients that derive benefit from sibutramine. Sibutramine is an important option for patients and physicians to treat a serious condition for which there are few treatment options currently available."

16:44

BTE Baytex Energy Trust confirms Aug cash distribution of $0.18 per trust unit, unchanged from prior (34.16 +0.53)

16:36

CPO Corn Products announces $900 mln senior note offering consisting of $350 mln 3.2% notes due 2015, $400 mln 4.625% notes due 2020, and $150 mln 6.625% notes due 2037 (37.41 +0.68)

Co plans to use the net proceeds of the offering to fund a portion of the cash consideration payable in connection with its pending acquisition of National Starch, the specialty starches business of Akzo Nobel N.V.

16:35

CE Celanese places $600 mln of 6.4% senior unsecured notes due 2018 (31.23 -0.27)

The net proceeds of the offering will be used for general corporate purposes, including the repayment of outstanding indebtedness under the co's senior secured credit facility and the payment of related fees and expenses.

16:33

WYN Wyndham Worldwide prices $250 mln of 5.75% senior unsecured notes due 2018 (26.77 -0.18)

Co intends to use the aggregate net proceeds from the offering to reduce outstanding indebtedness and for general corporate purposes.

16:31

AIR AAR Corp beats by $0.05, beats on revs (17.66 +0.11)

Reports Q1 (Aug) earnings of $0.35 per share, $0.05 better than the Thomson Reuters consensus of $0.30; revenues rose 20.7% year/year to $412.2 mln vs the $381.5 mln consensus.

16:31

LLEN L&L Energy announced that Paul Cheng as Chief Accounting Officer effective October 5, 2010 (7.29 -0.59)

16:27

FITB Fifth Third unit Fifth Third Processing Solutions announced it has signed a definitive agreement to acquire National Processing Company (12.47 -0.02)

16:20

CLC CLARCOR beats by $0.05, reports revs in-line; raises bottom end of FY10 EPS in-line, revs above consensus (37.51 +0.52)

Reports Q3 (Aug) earnings of $0.55 per share, $0.05 better than the Thomson Reuters consensus of $0.50; revenues rose 14.1% year/year to $262.8 mln vs the $260.4 mln consensus. Co raises bottom end of EPS guidance for FY10 to $1.80-1.85 vs. $1.81 Thomson Reuters consensus, up from $1.70-1.85; sees FY10 revs growth of 10.5-11%, which calculates to ~$1.00-1.01 bln vs. $998.43 mln Thomson Reuters consensus.

16:18

PPL PPL Corp reaches settlement related to FERC approval of acquisition of E.ON U.S. (26.84 -0.10)

Co and E.ON U.S. LLC have reached a settlement with two parties who had raised issues related to Federal Energy Regulatory Commission approval of PPL's acquisition of E.ON U.S. PPL announced in April a definitive agreement with E.ON A.G. to acquire E.ON U.S. LLC, the parent company of Kentucky's two major utilities, Louisville Gas and Electric Company and Kentucky Utilities Company. The settlement resolves the concerns raised by these two parties, and they have withdrawn their protests.

16:15

BMR BioMed Realty declares Q3 dividend of $0.17/share, up from $0.15/share (18.70 +0.10)

16:15

AVNW Aviat Networks announced that it has reached a settlement agreement with Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC (4.24 +0.15)

16:13

NUE Nucor selected St. James Parish, Louisiana, for the construction of $750 mln iron making facility; DRI facility is the first phase (39.27 -0.14) -Update-

The 2.5 mln tons-per-year iron making facility will convert natural gas and iron ore pellets into high quality direct reduced iron ("DRI") used by Nucor's steel mills, along with recycled scrap, in producing numerous high quality steel products such as sheet, plate and special bar quality steel. The DRI facility is the first phase of a multi-phase plan that may include an additional DRI facility, coke plant, blast furnace, pellet plant and steel mill.

16:11

GME Gamestop pops 5.4% to $19.60/share after hours following news of a $500 mln share & debt repurchase program (see 16:09 comment) (18.59 -0.02) -Update-

16:10

AVA Avista announces natural gas prices for Avista's Washington and Idaho customers could increase with annual purchased gas cost adjustment (20.71 -0.15)

Natural gas prices for co's customers could increase by an overall 4.6% in Washington and 4.3% in Idaho if the utility commissions in both states approve the company's annual purchased gas cost adjustment tariffs that were filed today. If approved by the respective state utility commissions, new rates would become effective Nov. 1, 2010, and annual natural gas revenues would increase by approximately $3.6 million in Washington and by $1.7 million in Idaho. Co does not mark up the cost of natural gas purchased to meet customer needs, so there is no impact on company earnings.

16:09

GME GameStop announces $500 mln share & debt repurchase program (18.59 -0.02)

Co said $300 mln of the additional funds will be used in the co's share repurchase plan and $200 mln will be used to retire the co's Senior Notes. This program is incremental to the initial $300 mln stock repurchase plan announced in January 2010 and completed in the co's Q2 of 2010.

16:09

COV Covidien announces highlights from investor meeting; estimates 2011 fiscal year net sales will increase 6%-9% versus consensus of +7% (37.90 +0.21)

In addition, co says net sales are expected to increase 10%-13% versus 2010 in the medical devices segment and be flat to up 3% in medical supplies. The co expects sales in pharmaceuticals to be down 5% to even with 2010 net sales. All sales growth rates assume current foreign exchange rates. Excluding the impact of one-time items, operating margin is expected to be in the 21%-22% range. Co anticipates the effective tax rate will be in the 20% - 21% range for fiscal 2011, excluding the impact of one-time items. Free cash flow is expected to be in excess of $1.6 billion in 2011.

16:07

NARA Nara Bancorp announced that Chong-Moon Lee, Chairman of the Board of the Company will step down from his board positions effective today (7.15 +0.02)

Co announced that Chong-Moon Lee, Chairman of the Board of the Company and a member of the Board of the Bank, will step down from his board positions effective today, September 15, 2010. Mr. Lee indicated that he intends to devote his full attention to his mission to promote social innovation, including building elementary and secondary schools in the poorest Asian and African countries.

16:06

AEL American Equity Investment Life to offer $150 mln Convertible Senior Notes due 2015 (10.87 +0.03)

In connection with the offering, co intends to enter into one or more privately negotiated convertible note hedge transactions, which are expected generally to reduce both the potential dilution upon conversion of the notes and exposure to potential cash payments American Equity may be required to make upon a conversion of the notes. Co also intends to enter into one or more privately negotiated warrant transactions. Co has been advised that the counterparties expect to purchase shares of common stock and/or enter into various derivative transactions with respect to common stock concurrently with, or shortly after, the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the price of common stock at that time. Co intends to use a portion of the net proceeds of the offering to pay American Equity's cost of the convertible note hedge transactions described above, taking into account the proceeds to American Equity of the warrant transactions described above, and to use the balance of the net proceeds of the offering to repay outstanding amounts of principal and interest under its credit facility, to repurchase outstanding convertible notes, and for general corporate purposes.

16:04

MCRL Micrel increases share repurchase amount to $30 mln from previous $15 mln (9.76 -0.09)

16:03

WEL Boots & Coots stockholders approve merger with Halliburton (HAL) (2.98 -0.02)

Over 60% of the outstanding shares of Common Stock voted in favor of the merger proposal. Co and Halliburton anticipate closing the transaction on or about September 17, 2010.

16:01

NPSP NPS Pharm announces proposed public offering of $41.3 mln of its common stock (6.61 +0.10)

16:01

AGL AGL Resources refinances $1 bln credit facility that terminates on September 15, 2013 (37.99 -0.23)

Co is expected that it will be used primarily to support AGL Capital's commercial paper program. AGL Capital has the option to increase the aggregate principal amount available for borrowing to $1.25 bln on terms and conditions expressed in the credit facility.

Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond and world FX market participants.  1-800-752-3013 or http://www.briefing.com