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

Sep 21, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 21-Sep-10 09:00 ET

08:49

On the Wires

Kennedy Wilson (KW) announced that its Auction Group offered and sold 32 units at Olive 8, Seattle's first green condo/hotel. Total sales were $13.3 million, and the average bid price was $416,000... American Electric Power (AEP) and Allegheny Energy (AYE) announced a new application has been filed for authority to build the Virginia segment of the Potomac-Appalachian Transmission Highline.

08:38

XHB Homebuilders advance in wake of stronger data -Technical-

LEN, MDC, MTH, PHM, SPF, TOL, HOV, DHI, KBH, BZH.

08:37

PVG Penn Va GP Hldgs and Penn Virginia announce merger agreement; PVG unitholders would receive 0.98 PVR limited partnership units (22.36 )

Penn Virginia Resource Partners (PVR) and PVG announced a definitive agreement that would result in the merger of the two partnerships. The merger transaction would be completed with 100 percent equity consideration and would result in PVR owning its general partner, the cancellation of PVG's incentive distribution rights and the cancellation of the PVR limited partnership units owned by PVG. Under the terms of the merger agreement, PVG unitholders would receive 0.98 PVR limited partnership units in exchange for each PVG limited partnership unit owned at closing.

08:35

On the Wires

Sonic Solutions (SNIC) and Microtech Systems announced a collaboration to enable on-demand manufacturing of DVDs. Microtech has licensed Sonic's latest Qflix technology that supports DVD-9 (dual-layer) recording in addition to DVD-5 (single-layer), to integrate into its Xpress XP automated disc publishing system... Boston Scientific Corporation (BSX) announced that its PROMUS Element Everolimus-Eluting Coronary Stent System has received CE Mark approval for use in patients with diabetes and those experiencing an acute myocardial infarction... PositiveID Corporation (PSID) announced that it has initiated a research study with the Diabetes Research Institute at the University of Miami for the Company's glucose-sensing microchip.

08:35

CIT CIT Group will redeem all of its outstanding 10.25% Series B second lien Notes maturing in 2013 and 2014 (39.43 )

Co announces that it will redeem all of its outstanding 10.25% Series B second lien Notes maturing in 2013 and 2014. The Company has provided a redemption notice to the trustee and intends to complete the redemption on October 21, 2010.

08:34

FBSS Fauquier Bankshares announces dividend reduction for Q4 (14.94 )

Co declares Q4 dividend of $0.12/share for shareholders of record on 10/17/10. The Q4 dividend represents a 40% reduction compared to the dividend paid for Q3 which was $0.20.

08:31

CLX Clorox announces sale of Auto Care Business for ~$780 mln; proceeds to repurchase shares (67.61 )

Co announces it has entered into a definitive agreement to sell its global auto care businesses to an affiliate of Avista Capital Partners in an all-cash transaction with gross proceeds of ~$780 mln. The transaction is expected to close by the end of this calendar year. Included in the transaction are substantially all of Clorox's global auto care businesses, the majority of which are in the U.S., Australia, Canada and Europe, including the worldwide rights to distribute the market-leading Armor All and STP brands. As part of the transaction, the buyer will acquire two auto-care manufacturing facilities, one in the U.S. and one in the U.K. Employees at these facilities, the auto business management team and other employees affiliated with the global auto care business will transfer to the buyer. Co has agreed to provide transition services to the buyer for a period of up to 18 months. Co anticipates it will use net proceeds from the sale to repurchase shares of co common stock over the remainder of its current fiscal year.

08:30

HEV Ener1 announces Senior Management Changes to Catalyze Organizational Improvements (3.64 )

Co announces new segmentation of its diversified business. Co will be internally divided into three segments, reflecting the main directions of development in the rapidly evolving industry: transportation, utility grid and small format products. Each segment will be a separate profit-and-loss center headed by its own president, and the changes will be applied in the Americas, Europe and Asia.

08:29

TTPA Trintech Group it has received approaches from a number of parties which may or may not lead to an offer being made for the entire issued and to be issued share capital of the Company (4.63 )

Co announced that it has received approaches from a number of parties which may or may not lead to an offer being made for the entire issued and to be issued share capital of the co. The Directors emphasise that discussions are at a very preliminary stage and that there can be no certainty that they will lead to any definitive agreement regarding any transaction. Further announcements will be made as appropriate.

08:28

ARTX Arotech receives $3.5 mln in aviation armor orders (1.70 )

08:27

On the Wires

Molson Coors Brewing (TAP) Si'hai Beer Company launches in China... Gilat Satellite Networks (GILT) completed the deployment of a new VSAT network for lottery in a North African country... Deluxe Digital Cinema, subsidiary of Deluxe Entertainment Services Group, and EchoStar Satellite Services, subsidiary of EchoStar Corporation (SATS), announced the formation of Deluxe/EchoStar, a joint venture to build an advanced digital cinema satellite distribution network targeting delivery to digitally equipped theaters in the U.S. and Canada... Top Image Systems (TISA) joined in partnership with Saves, a Business Process Management company in the Netherlands, to provide document processing to Zeeland province, a local Government in the Netherlands... UGI Energy Services Inc., the midstream and energy marketing subsidiary of UGI Corporation (UGI), has entered into an agreement with Citrus Energy Corporation to gather by pipeline Marcellus Shale natural gas produced by Citrus in Wyoming County, Pennsylvania, for delivery to Tennessee Gas Pipeline Company's interstate pipeline in Susquehanna County.

08:20

GFIG GFI Group and Nasdaq announce agreement to electronically clear physical U.S. power and natural gas transactions (4.94 )

The NASDAQ OMX Group (NDAQ) and GFIG announced a strategic agreement to offer electronic trading and clearing of continental U.S. power and natural gas. The agreement broadens the clearing options for energy traders in the U.S.

08:13

On the Wires

Kodiak Oil & Gas (KOG) provided an interim update on its Williston Basin oilfield activities... Optimer Pharmaceuticals (OPTR) announced that it has submitted the first section of a rolling New Drug Application to the FDA for fidaxomicin to treat patients with Clostridium difficile infection and to prevent recurrences of CDI. Optimer anticipates completing the submission in the fourth quarter of 2010 and plans to request priority review, which, if granted, could lead to an FDA decision on the NDA in the second quarter of 2011. .. The Shaw Group (SHAW) announced it has expanded its technology portfolio with the addition of two refining technologies designed to help refiners meet increasingly stringent environmental regulations for cleaner gasoline... eDiets.com (DIET) announced it will debut on ShopNBC (VVTV) on September 29, 2010 with an exclusive, freshly prepared meal delivery program designed to help its loyal viewers lose weight in an easier and tastier manner.

08:12

AAWW Atlas Air Worldwide raises FY10 EPS guidance ahead of consensus (49.49 )

Co raises guidance for FY10 (Dec), sees EPS to exceed $5.30, excluding $0.33 in non-recurring items, vs. $4.55 Thomson Reuters consensus, up from exceeding $4.35 previously, reflecting stronger airfreight demand than previously anticipated and continued tight supply. Results for the year are expected to reflect continued high aircraft utilization by AAWW's ACMI customers and robust Commercial Charter demand and yields, driven by the strength in airfreight demand, tight supply of wide-body, long-haul freighter capacity, and reduced market uncertainty. Expected results also assume continued moderate growth in the global economy. "2010 is expected to be a record year for commercial airfreight demand and a record year for AAWW."

08:04

PGNX Progenics Pharm announces clinical completion of subcutaneous methylnaltrexone safety study in chronic non-malignant pain patients (4.52 )

Co announces completion of the treatment phase 3 safety study of methylnaltrexone bromide subcutaneous injection in chronic, non-malignant pain patients with opioid-induced constipation. Co plans to include results from this study in a supplemental NDA to be submitted to the FDA in 1H11.

08:03

HTM US Geothermal updates status of development projects; new wells drilled at Neal Hot Springs (0.85 )

Co provides an update of its project development activities at Neal Hot Springs where the injection well NHS-10 has recently been drilled to a depth of 2,465 feet and successfully tested. Initial injection test analyses indicate that the well will sustain approximately 1,100 gallons per minute of fluid injection for the life of the project. A second injection well is currently at a depth of 1,950 feet and is expected to be completed in late September, 2010. Drilling of NHS-8, the project's third production well is also underway and is currently at a depth of 2,350 feet. NHS-8 is expected to reach the production zone before the end of September.

08:02

KOG Kodiak Oil & Gas Provides Williston Basin Operations Update; says strong Bakken results continue, long lateral well ips at 1,906 boe/d on 24-hour test (3.08 )

Co said: "Our current frac design, which combines increased stages with higher volumes of ceramic proppants, is resulting in continued strong well results. Importantly, our pressure pumping provider is working closely with our team to provide availability for services that meets our completion schedule. The remaining inventory of wells awaiting completion discussed in today's operations update should provide a boost in production and cash flow through the remainder of 2010 and into next year as we control high working and revenue interests in each of the wells. Despite the record Williston Basin rig count which continues to stress service availability, our team continues to successfully execute our development drilling program which we announced earlier in the year. We have been fortunate in getting our wells completed within reasonable time, the production from which is an important component of our growing cash flow."

08:02

RIC Richmont Mines announces updated surface drilling results at the Beaufor Mine; additional 7,000 metres drilling program is currently underway (5.14 )

Co highlights updated results at the Beaufor Mine: in the W Zone, 12.62 g/t Au over 1.4 metres, 14.09 g/t over 3.76 metres, 6.75 g/t Au over 5.51 metres, 34.25 g/t Au over 0.95 metres; an additional 7,000 metre drilling program is currently underway; Resource calculations for the 350, W and 367 Zones will be available at the beginning of 2011.

08:01

RNN Rexahn Pharmaceuticals announces the publication of a research article in on the neuroprotective effects of clavulanic acid, the active pharmaceutical ingredient of Serdaxin (1.20 )

Co announces the publication of a research on the neuroprotective effects of clavulanic acid, the active pharmaceutical ingredient of Serdaxin, Rexahn's lead CNS therapeutic currently in Phase II clinical trials. The article demonstrates that clavulanic acid protects neurons from neurotoxin-induced brain damage in animal models of human neurodegenerative disease.

08:01

ADCT ADC Telecom: Tyco Electronics (TEL) extends tender offer for ADC Telecom to to 5:00pm ET on Oct. 18, 2010; all other terms and conditions of offer remain unchanged (12.70 )

08:00

STJ St. Jude Medical announces results from Angio-Seal Evolution vascular closure device registry subset analysis; clinical data validate Angio-Seal Vascular closure systems' successful 15-year history (37.48 )

Co announces subset data results for the Angio-Seal Evolution Vascular Closure Device Registry. The results validated the exceptional performance of the Angio-Seal Evolution device after being successfully deployed in 99.7 percent of procedures and with hemostasis achieved in 97.8 percent of these procedures by the device.

07:56

COMDX Gold and silver futures trade to their lowest levels of the morning

Gold currently lower by $6 to $1274.90 while silver is off 22.3 cents to $20.58.

07:54

On the Wires

Celsion (CLSN) announced that an abstract on its Phase I/II DIGNITY trial of ThermoDox in Recurrent Chest Wall Breast Cancer has been accepted for a poster session at the 2010 Breast Cancer Symposium... Scorpio Tankers (STNG) entered into an agreement to purchase an LR2 Aframax product tanker (~113,100 dead weight tons) for a purchase price of $52.2 million. The ship, which is charter free, was built in 2008 and is scheduled to be delivered in November 2010... Jacobs Engineering Group (JEC) secured an extension from Kent County Council for their term consultancy contract until 2013. Co also received a contract from Hydrogen Energy California to provide professional engineering services for the company's water treatment and zero liquid discharge facility in Bakersfield, Calif... Schawk (SGK) announces that it has expanded its digital marketing services by acquiring the boutique digital agency Untitled London which saw annual revs of ~$0.7 mln...Microsoft (MSFT) announces the further international expansion of Zune to provide music and movie catalog to the U.K., France, Italy, Germany and Spain...Level 3 Communications (LVLT) announces it will provide CDN services for Virtue Fusion...CGGVeritas (CGV) announces Federal District Court in Texarkana partially overturned jury's verdict that its subsidiary Sercel infringed on patent.

07:47

OMEX Odyssey Marine executes agreements to provide supplementary project research and shipwreck search and survey services (1.84 )

Co and its associated company, OVH Inc., have executed agreements to provide supplementary project research and shipwreck search and survey services for a project code-named "Enigma II" to certain client companies of Robert Fraser & Partners. The contract provides for initial cash payments totaling approximately U.S. $1.6 million to Odyssey and OVH, Inc., plus additional payments based on any additional net revenue derived from the "Enigma" project. After the re-payment of all recovery costs, Odyssey and OVH, Inc. will receive 75% of net revenue in aggregate until an additional ?5.2 million (approximately U.S. $7.9 million) has been received and then 60% in aggregate of all further net revenue.

07:36

CAG ConAgra misses by $0.05, misses on revs; lowers FY11 EPS guidance below consensus; raises qrtrly dividend 15% to $0.23 (22.37 )

Reports Q1 (Aug) earnings of $0.34 per share, excluding non-recurring items, $0.05 worse than the Thomson Reuters consensus of $0.39; revenues fell 2.4% year/year to $2.82 bln vs the $2.96 bln consensus. Co lowers guidance for FY11, sees EPS +5-7%, ex-itmes, (down from +8-10% previously) to ~$1.83-1.86, excluding non-recurring items, vs. $1.89 Thomson Reuters consensus. "Our plans are to improve the EPS performance in the back half of the year through increased contribution from recently introduced new products and recent acquisitions, productivity initiatives, and more effective promotional strategies. Our initiatives, as well as lower SG&A expense, are expected to provide meaningful financial offset to the challenges we face. Furthermore, the positive impacts from a higher-quality potato crop are expected to provide increased year-over-year profitability for the Commercial Foods segment, particularly in the back half of the year." The co remains committed to its long-term financial goals, which include comparable EPS growth of 8-10% annually; co also raises qrtrly dividend 15% to $0.23.

07:35

KONE Kingstone Wirelessinfo Solution announces chairman's share purchases (2.28 )

Co announced that the Company's Chairman, Tao Li, acquired 430,798 American Depositary Shares (ADSs), with each ADS representing one Ordinary Share of Kingtone, from open market between September 9, 2010 and September 17, 2010. Mr. Li increased his total beneficial holdings of Kingtone's Ordinary Shares from 6,099,107 to 6,529,905, or 46.6% of the Company's total outstanding shares.

07:31

CAG ConAgra increases quarterly dividend to $0.23 per share from $0.20 per share (22.37 ) -Update-

07:30

IGT Intl Game Tech amends its joint venture with China LotSynergy; to release the lock up provision (15.25 )

Co announced that it, and its subsidiary IGT, and China LotSynergy Holdings Limited (CLS) will continue their strategic alliance but have agreed to release the lock up provision that prevented IGT from selling its shares in CLS and the convertible note and to reduce outstanding amounts owed to IGT under the convertible note in exchange for an acceleration of payments from CLS. The outstanding convertible note had an accreted value of $80.7 mln, which will be modified to be redeemed at $61.1 mln. CLS will make an immediate payment to IGT of $39.7 mln. IGT currently estimates that a charge of ~$21 mln will be recorded in the fiscal fourth quarter of 2010 as a result of the convertible note modification.

07:30

ZOOM ZOOM Technologies receives additional 500K units per month order from Beijing Tianyu

Co announces it has received an increase in orders from Beijing Tianyu, its largest EMS customers. Beginning in the fourth quarter of 2010, Beijing Tianyu will increase its orders by an additional 500,000 units per month, or 1.5 million units per quarter, when fully ramped. Before the increase, Zoom's orders from Beijing Tianyu were about 2.2 million units per quarter, comprising of ~50% in PCBA (main circuitry) units and half in whole mobile phones.

07:30

REED Reed's: Selected Reed's Beverages to be carried by Bulk Barn (1.81 )

Co announces that Bulk Barn, Canada's largest bulk food dealer, has begun carrying selected Reed's beverages in all of its stores in Canada.

07:04

On the Wires

WellPoint (WLP) subsidiary wins durable medical equipment medicare administrative contract valued at $86.7 mln... ICF International (ICFI) has been awarded a new 3-yr, $11.7 mln contract by the U.S. Department of Health and Human Services, Centers for Disease Control and Prevention... Shiner International (BEST) established a new sales company based in Shanghai. The new company, Shanghai Juneng Functional Film Company, will increase Shiner's presence in China's growing food-safety packaging market... Celera Corporation (CRA) announced that the United States Patent and Trademark Office has issued United States Patent 7,799,530 relating to methods of determining heart attack risk by detecting the KIF6 gene variant and reduction of such increased risk by statin therapy... U.S. Bancorp (USB) subsidiary, Elavon, has formed an alliance with Telecom Canada International (TCI). The agreement enables TCI to provide its business clients with access to Elavon's payment processing solutions, customer service and support operations across the U.S. and Canada.

07:03

FDS FactSet beats by $0.03, reports revs in-line; guides Q1 EPS above consensus, revs above consensus (83.61 )

Reports Q4 (Aug) earnings of $0.83 per share, $0.03 better than the Thomson Reuters consensus of $0.80; revenues rose 8.2% year/year to $168.2 mln vs the $167.3 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.83-0.85 vs. $0.81 Thomson Reuters consensus; sees Q1 revs of $169-174 mln vs. $168.96 mln Thomson Reuters consensus.

07:02

AZO AutoZone beats by $0.22, beats on revs (220.14 )

Reports Q4 (Aug) earnings of $5.66 per share, $0.22 better than the Thomson Reuters consensus of $5.44; revenues rose 9.5% year/year to $2.45 bln vs the $2.4 bln consensus. Q4 gross profit, as a percentage of sales, was 50.5% (versus 50.3% for last year's quarter). The improvement in gross margin was primarily attributable to leveraging distribution costs due to higher sales and operating efficiencies (26 basis points). Under its share repurchase program, AutoZone repurchased 2.8 million shares of its common stock for $565 million during the fourth quarter, at an average price of $199 per share.

07:01

ATHX Athersys receives Orphan Drug Designation for multistem in graft vs. host disease (3.38 )

co announces it has been granted orphan drug designation by the fda for the prevention of graft vs. host disease. The stem cell therapy is in clinical development for cancer treatment support in patients with leukemia or related blood cancers.

07:00

MYL Mylan Labs receives approval for generic version of Prograf capsules (18.40 )

Co announces it has received final approval from the FDA for its ANDA for Tacrolimus Capsules, 0.5 mg, 1 mg and 5 mg, the generic version of Astellas' Prograf. Tacrolimus Capsules had U.S. sales of approximately $944 mln for the 12 months ending June 30, 2010. The product will launch immediately.

06:47

S&P futures vs fair value: -2.70. Nasdaq futures vs fair value: -4.00.

06:47

Asian Markets

Nikkei...9602.11...-24.00...-0.30%. Hang Seng...22002.59...+25.30...+0.10%.

06:47

European Markets

FTSE...5620.61...+18.10...+0.30%. DAX...6320.30...+25.50...+0.40%.

06:46

VVUS Vivus announces positive top-line results from a two-year study of QNEXA Controlled Release Capsules, an investigational therapy for treatment of obesity (6.18 )

The findings come from the SEQUEL study, a 108 weeks study including 675 obese patients. Patients in the study taking the top dose of QNEXA achieved and maintained average weight loss through two years of 11.4% of their initial body weight, or 26 pounds. Consistent with the first year experience, QNEXA therapy was well tolerated, with no new or unexpected adverse events. The most common side effects seen were constipation, tingling, dry mouth, altered taste and insomnia.

06:41

EXAR Exar issues downside Q2 rev guidance (5.85 )

Co issues downside guidance for Q2 (Sep), sees Q2 (Sep) revs of $36.0-36.5 mln vs. $41.17 mln Thomson Reuters consensus and non-GAAP gross margin is projected to be between 50-51%. Q2 non-GAAP operating expenses are projected to be between $20.0-21.0 mln due to ongoing cost control measures. "Our business has softened in September due primarily to inventory corrections at both direct customers and distributors after five consecutive quarters of revenue recovery. Our design win opportunity pipeline remains healthy and we are encouraged by the growth in opportunities for our new products."

06:34

IMGN Immunogen to start SAR566658 clinical testing (5.51 )

Co announces the start of clinical testing with SAR566658. SAR566658 utilizes co's Targeted Antibody Payload technology with the CA6-binding antibody, huDS6, and humanized with co's proprietary resurfacing technology. Sanofi-aventis (SNY) has begun clinical evaluation of SAR566658, triggering a $1 mln milestone payment to co.

06:27

BIOD Biodel reports results of Linjeta study versus insulin lispro (54.96 )

Co presents results of a clinical study evaluating a new pH-neutral formulation of Linjeta. The data showed that the new pH-neutral, 100 IU/ml formulation of Linjeta was bioequivalent to the previously studied pH-4, 25 IU/ml formulation of Linjeta, and had faster absorption and onset of action than insulin lispro.

06:20

CTSH Cognizant Tech announces a joint development program with Microsoft (MSFT) to deliver cloud-enabled solutions to enterprise customers (64.19 )

Co announces a joint development program with Microsoft to deliver cloud enabled solutions to enterprise customers. As part of this program, Cognizant has set up a "Octane Solution Center" to accelerate development of cloud-enabled next-generation solutions that integrate Cognizant business services and Microsoft technologies.

06:18

MAIN Main Street Capital closes $85 mln three-year credit facility (15.48 )

06:06

ACTG Acacia Research subsidiary enters into settlement and license agreement with Zagat Survey (17.44 )

Co announces that its subsidiary WebMap enters into settlement and license agreement with Zagat Survey. This patented technology generally relates to aggregating and expressing geographically linked data on interactive internet maps.

05:35

On the Wires

3PAR (PAR) partners with Apara Enterprise Solutions to expand the co's sales channel in India...Tesla (TSLA) will open a show room in Paris 9/30/10...Quality Systems (QSII) subsidiary NextGen Healthcare Info Systems entered into an agreement with VHA Inc, a national health care network serving 1,400 not-for-profit hospitals and 30,000 non-acute care providers across the nation

05:35

MOVE Move acquires Threewide Corp for $13 mln in cash (2.06 )

Co announces the acquisition of Threewide. Co completed the transaction on 9/20/10 for total consideration of $13 mln cash. The acquisition is expected to be dilutive to GAAP EPS by ~$0.01 to $0.02 in 2011 and non-dilutive to adjusted EBITDA.

04:03

INO Inovio Biomed Completes enrollment of HIV clinical trial for DNA Vaccine delivered using Electroporation (1.12 )

03:19

IGLD Internet Gold: Board approves issuance of a new series of debentures through a public offering in Israel up to ~NIS180 mln (20.99 )

01:30

MIR Mirant and RRI Energy (RRI)arrange Genon Energy debt (9.93 )

Cos announce that they have entered into agreements which provide for MIR and RRI to borrow $1.925 bln upon the closing of their proposed merger to form GenOn Energy.

01:25

AI Arlington Asset Investment declares an increased dividend of $0.25/share to $0.60/share for the 3Q10 (22.88 )

Co announces that its board declared a dividend of $0.60 per share for Q3. It equates to an annualized dividend yield of 10.5% based on 9/20 closing stock price of $22.88. Co also updates share repurchase of 193,824 shares during the 3Q10 at an average stock price of $19.84.

01:18

LPNT Lifepoint Hospitals prices $400 mln of its 6.625% senior notes due 2020 (35.77 )

01:16

IMAX IMAX signs largest theatre deal in Asia; CJ CGV HOLDINGS to open 15 New IMAX theatres in China (15.96 )

01:09

ARM ArvinMeritor to invest $42 mln to aggressively enhance its foundation brake position in europe (14.64 )

Co announces that it plans to invest $42 mln to advance its foundation brake leadership position in Europe. Co will also launch 18X single reduction axle

for the European commercial vehicle market.

18:29

GORO Gold Resource executes $55.6 mln private placement to accelerate production profile and exploration (18.60 +0.15)

GORO's private placement consists of 3.475 mln shares of restricted common stock at $16.00 per share with no warrants.

18:25

CHTR Charter prices $1 bln senior notes offering (34.50 ) -Update-

Co announced that its subsidiary, CCO Holdings, LLC, has priced its previously announced offering of Senior Notes due 2017. The transaction was upsized to $1 billion from the initial announcement amount of $750 mln. The 2017 Notes will have an annual interest rate of 7.25%, with interest paid semi-annually in April and October.

18:20

GLD December gold is trading just below the unchanged line after hours; now -$0.80 at $1280.00 per ounce (124.87 +0.33)

18:17

USO October crude oil is trading lower after hours; now -$0.63 at $74.23 per barrel (33.22 +0.57)

17:58

HTZ Hertz Global Holdings announces pricing of $400 mln private offering of senior notes by the Hertz Corp (11.16 +0.17) -Update-

Co announced that its wholly owned subsidiary, The Hertz Corp, had entered into an agreement to sell $400 mln aggregate principal amount of 7.50% Senior Notes due 2018 in a private offering. The notes are expected to constitute a further issuance of, will be fungible with and will be consolidated and form a single series with the 7.50% Senior Notes due 2018 priced on Sept 16, 2010 in the aggregate principal amount of $300 mln and anticipated to be delivered on Sept 30, 2010

17:24

Futures are trading lower after hours: S&P 500 futures are -1.18 from fair value of 1137.78 and Nasdaq100 futures -5.47 points from fair value of 1987.22

17:11

CLF Cliffs Natural Resources announces Asia Pacific iron ore infrastructure upgrades (61.81 +0.85)

Co announced that its Board of Directors has approved a capital project at its Koolyanobbing Complex in Western Australia. The project, which requires ~$320 mln Australian dollars of incremental capital investment, is expected to allow the Koolyanobbing Complex to produce ~11 mln tonnes annually.

17:05

HPQ HP and Oracle reaffirmed their long-term strategic partnership and the resolution of litigation regarding Mark V. Hurd's employment at ORCL (39.39 +0.25)

Co announced while the terms of the settlement are confidential, Mr. Hurd will adhere to his obligations to protect HP's confidential information while fulfilling his responsibilities at ORCL. The agreement also reaffirms HP and Oracle's commitment to delivering the best products and solutions to their more than 140,000 shared customers.

17:03

HME Home Properties raises Q3 guidance (53.49 +2.08)

Co raises Q3 funds from operations (FFO's) guidance; co now expects Q3 FFO per share to be at the high end of, or slightly above its prior guinance of $0.73-0.77; co is now expecting, based on prelim results, FFO's in the range of $0.76-0.80 vs. $0.77 Thomson Reuters consensus. Co also raises FY10 FFO's of $2.98-3.06 vs. $3.01 consensus. Co expects same-store revenue growth to be slightly positive in Q3, which would be the first increase in YoY revenue since Q1 2009.

17:00

CWH CommonWealth REIT announces redemption of remaining 7 mln shares outstanding of 8 3/4 % Series B cumulative redeemable preferred shares (28.00 +0.70)

Co announced that it will redeem the remaining 7 million shares outstanding of its 8 3/4% Series B Cumulative Redeemable Preferred Shares at the stated Liquidation Preference price of $25 per share plus accrued and unpaid dividends to the date of redemption. This redemption is expected to occur on or about October 21, 2010.

16:48

DVAX Dynavax announces $30 mln at-the-market common stock purchase agreement (1.70 +0.08)

Co announced that Aspire Capital Fund, LLC has purchased 1 mln shares of DVAX common stock at $2.00 per share, representing a 23% premium to the closing market price on September 17, 2010. The investment was made in connection with a $30 mln At-The-Market common stock purchase agreement under which Aspire Capital has committed to purchase up to an additional $28 mln of DVAX common stock over the next 25 months.

16:47

CP Canadian Pacific announces a $350 million debt offering and a prepayment to its pension plans (62.26 +0.58)

16:40

ZN Zion Oil to launch rights offering of units of its securities (5.62 -0.14)

Co announced that it intends to launch a rights offering. Under the rights offering, ZN will distribute non-transferable subscription rights to holders of ZN's common stock on the close of business on the record date of September 28, 2010, to purchase their pro rata portion of ~3.8 mln Units of ZN's securities. Each Unit will consist of one (1) share of ZN's common stock and one (1) warrant to purchase an additional share of ZN's common stock at an exercise price of $4.00.

16:36

JAXB Jacksonville Bancorp and Atlantic BancGrouP (ATBC 2.50) announce revised merger agreement and stock purchase agreement terms (8.25 +0.50)

The cos announced an amendment to their previously announced merger agreement. JAXB also announced an amendment to its previously announced stock purchase agreement with four investors led by CapGen Capital Group IV LP. The amount of capital to be raised under the stock purchase agreement has been increased from $30 million to $35 million and the purchase price per share has been reduced from $10 to $9. As a result, JAXB intends to issue 3,888,889 shares to the four private investors. Under the amendment to the merger agreement, ATBC shareholders will still receive 0.2 shares of JAXB common stock for each share of ATBC common stock. Additionally, each share of ATBC common stock will entitle its holder to receive $0.67 per share in cash. A total of approximately 250,000 shares of JAXB common stock is expected to be issued to ATBC shareholders which is unchanged since the original agreement. (both are halted)

16:34

KRA Kraton Performance Polymers commences public offering of 8 mln shares of common stock (28.53 -1.19)

16:31

MHLD Maiden Holdings announces exchange of warrants with founding shareholders (7.74 +0.08)

Co entered into an agreement with its founding shareholders, Michael Karfunkel, George Karfunkel and Barry Zyskind, to exchange all of the outstanding warrants held by them for restricted Maiden common shares. The outstanding warrants, which entitle the holders to purchase 4.05 mln Maiden common shares, were issued June 7, 2007 with an exercise price of $10.00 per share, an expiration date of June 7, 2017 and a three-year lock-up period that expired on June 7, 2010. The founding shareholders will receive an aggregate of 1.8 mln Maiden common shares in exchange for the warrants.

16:30

EROC Eagle Rock Energy says East Texas oil and gas production will be shut-in longer than originally anticipated (6.32 unch)

Co announces Energy Partners, L.P. (the "Partnership" or "Eagle Rock") (Nasdaq:EROC) announced today that its East Texas oil and gas production will be shut-in longer than originally anticipated due to delays in returning to service the third-party operated facility that processes the Partnership's production. The Partnership expects the shut-in to negatively impact net revenues in its Upstream Business by approximately $4 million.

16:22

KCAP Kohlberg Capital announces forbearance and settlement agreement with lenders (6.00 +0.14)

Co entered into a forbearance and settlement agreement relating to their revolving credit facility with BMO Capital Markets, Deutsche Bank AG and the other lender parties in order to settle all outstanding claims asserted in connection with the Co-initiated credit facility litigation.

16:19

ITT ITT Industries awarded sole source contract by NASA for the Cross-track Infrared Sounder instrument planned for flight on the first JPSS-1 in 2014 (46.94 +1.23) -Update-

Under this contract, ITT will manufacture, test and deliver the CrIS, support instrument integration on JPSS-1, and provide launch and post-launch support. The instrument will be identical to the CrIS planned for flight on the NPOESS Preparatory Project mission.

16:19

TCAP Triangle Capital commences public offering of 2 mln shares of common stock (16.76 +0.48)

16:17

CBZ CBIZ Inc announced a $100 mln convertible sr subordinated notes offering (6.08 )

16:15

WLL Whiting Petroleum announced that it has commenced a public offering of $350 mln aggregate principal amount of senior subordinated notes due 2018 (96.28 +3.50) -Update-

Co expects to use the net proceeds from this offering to repay a portion of the debt outstanding under its credit agreement.

16:12

SYA Symetra Financial's Symetra Life announces new organizational structure (10.81 -0.02)

Symetra Life Insurance Company announced a new organizational structure. The new organizational structure reflects Symetra's three core businesses -- retirement solutions, life insurance and group insurance. A division has been created for each core business, led by an executive vice president. Co is still conducting a search for an executive to lead its Life Division.

16:11

GDI Gardner Denver appoints Michael M. Larsen as Vice President and Chief Financial Officer, effective October 11 (54.45 +1.00)

Co announced Larsen succeeds Helen W. Cornell, who has served in this capacity since 2004 and previously advised the Co of her intention to retire to enable her to increase her involvement in family business matters. Cornell will remain with the Co during a transition period, which is expected to be completed in November 2010. Prior to joining GDI Larsen was Chief Financial Officer, GE Water & Process Technologies.

16:09

VOLC Volcano Files Counterclaim Asserting St. Jude (STJ) Infringes Three Volcano Patents; Answers St. Jude's Patent Infringement Claims (24.31 +0.03)

Co said that it believes the patent infringement claims brought against the company by St. Jude Medical Systems AB (STJ) and its affiliated companies are without merit. In a filing made today in the United States District Court for the District of Delaware, Volcano denies allegations that its PrimeWire products infringe any valid claim of St. Jude's asserted patents. Moreover, as described in detail in its answer, Volcano believes that two of the asserted St. Jude patents are unenforceable because they were obtained through acts of fraud on the United States Patent and Trademark Office (USPTO). Specifically, Volcano believes that the individuals involved in securing these two patents knowingly withheld from the USPTO a patent describing the pioneering work of scientists at Volcano's predecessor company, Cardiometrics, Inc. In addition, Volcano has alleged that St. Jude's PressureWire products and its RadiAnalyzer Xpress product infringe three Volcano patents. In its counterclaim, Volcano is seeking injunctive relief and monetary damages.

16:09

CXS CreXus Investment announces Q3 dividend of $0.17/share, up from $0.12/share (12.43 +0.21)

16:08

TNAV TeleNav announces amendments to Sprint and Tele Atlas agreements; co guides Q1 in-line, guides FY11 below consensus (5.06 -0.07)

Co announced that it entered into amendments to its Master Application and Services Agreement with Sprint, its largest customer, and its License Agreement with Tele Atlas, a supplier of map and point of interest content used in TeleNav's services. Co issues in-line Q1 guidance; co sees Q1 EPS of ~$0.23 vs. $0.23 consensus, guides revs of ~$$50 mln vs $50.3 mln consensus. Co issues downside FY11 guidance; co guides FY11 Non-GAAP EPS of ~$0.55-0.60 vs $0.84 consensus, guides revs of ~$180-185 mln vs. $206 mln consensus.

16:06

CWH CommonWealth REIT announces proposed public offering of 5 mln common shares (27.96 +0.66)

Co announces that it has commenced a proposed public offering of 5 mln common shares. CommonWealth expects to use the net proceeds to reduce amounts outstanding under its $750 mln revolving credit facility, fund a portion of its redemption of the remaining seven million shares of its 8 3/4% Series B cumulative redeemable preferred shares, and fund general business activities, including possible future acquisitions.

16:02

IVR Invesco Mortgage Capital declares Q3 dividend of $1.00, up from prior dividend of $0.74/share (22.30 +0.30)

16:02

HTS Hatteras Financial announces public offering of 5 mln shares of common stock pursuant to an effective registration statement (30.69 ) -Update-

16:01

CYS Cypress Sharpridge Investments launches 10 mln shares common stock offering; co intends to invest the net proceeds of the offering in Agency RMBS and for general corporate purposes (13.87 +0.18)

16:01

HCN Health Care REIT proposes offering of 7mln shares of common stock (48.43 +0.52)

Co intends to use proceeds for general corporate purposes, including investing in properties and repaying borrowings under its unsecured line of credit and other outstanding indebtedness.

16:01

HTS Hatteras Financial declares third quarter 2010 dividend of $1.10 per share, unchanged from prior (30.69 +0.38)

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