Briefing.com: Hourly In Play (R) – 11:00 ET

Feb 09, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 09-Feb-10 11:00 ET

10:54

UUP Dollar Index rebounding off low, hovering near its day session high at 80.07 -- Energy/Commodity pull back -Technical-

10:53

AVP Avon declares quarterly dividend of $0.22 per common share up from $0.21 per share (29.21 +.14)

10:49

SPY S&P 500 set minor new high but no follow through develops -Update- -Technical-

The index was able to breach Monday's high but it continues to struggle with the 1071/1073 resistance zone (session high 1072). The intraday support levels noted in the 09:50 update (1066, 1064) will continue to provide a read on the underlying health of today's early push (currently at 1066).

10:48

IYR Sector Relative Weakness -- iShares DJ Real Estate slips to fresh lows as it comes into its 2-day pullback/2-mth low of 42.27 (42.35 -0.23) -Technical-

SPG, PSA, EQR, MAC, CPT, HME, FRT, BXP, VNO

10:36

XLE Minor new session highs for Energy XLE / OIH in recent trade, USO retested its morning peak -Technical-

10:35

FAA First-hour sector ETF view -Technical-

Actively Traded Leading Sector ETF Plays:

US airlines- FAA +5.5%, Steel- SLX +4.5%, iShares Brazil- EWZ +4.25%, SPDRS metals & mining- XME +4.25%, Coal- KOL +3.75%, Solar power- TAN +3.5%, Gold miners- GDX +3.75%, Ag/chem- MOO +3.25%, Wind energy- FAN +3%, Oil HLDRS- OIH +3%, China 25- FXI +3%, Emerging mkts- EEM +3%

Actively Traded Lagging Sector ETF Plays:

VIX vol. index- VXX -3.25%, Nat gas- UNG -1.5%, US Dollar index- UUP -.5%, US bonds- TLT -.25%

10:26

STLD NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-

NDX 100 Best % Performers:

STLD +5%, CTSH +4.25%, IACI +4%, JOYG +3.5%, FWLT +3.25%, INFY +3%, PCAR +3%, FSLR +3%, MICC +23%, RYAAY +3%, BRCM +2.25%, NRG +2.25%, NIHD +2.25%

NDX 100 Worst % Performers:

ERTS -8.75%, PPDI -2.75%, BIDU -.5%, INTU -.25%, ATVI -.25%

NASDAQ TRIN @ +.70

NASDAQ A/D +1220

10:24

CAT Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-

INDU Best % Performers:

CAT +5.25%, KO +3.75%, AA +2.75%, BA +2.25%, AXP +2%, DD +2%, VZ +2%

INDU Worst % Performers:

NONE

NYSE TRIN @ +.60

NASDAQ A/D @ +1900

10:20

COMDX Crude oil trades to fresh highs at $73.28; now higher by $1.32 to $73.21

10:20

SPY New session highs for stock indices with Dow +158 leading in recent action -- S&P +15, Nasdaq +27 -Update- -Technical-

10:18

PRX Volume Alert -- Par Pharmaceutical breaks to fresh opening lows on a pick up in relative volume, losing over $1.70 during the past 10 mins as it dips down into the 23.00 area (23.55 -1.84) -Technical-

10:16

X U.S. Steel breaks above opening range high (46.09 +2.00) -Technical-

Resistance above is at the top of last Thursday bear gap at 46.60. The 200 day ema is at 46.79.

10:03

SPY Slightly weaker trade develops following inventory data -- Dow +109, S&P +9.8, Nasdaq +18 -Update- -Technical-

10:01

ICOP ICOP Digital and DDIT sign MOU for joint venture in Saudi Arabia (0.37 +0.01)

Co announced that it has entered into a Memorandum of Understanding (MOU) with Developed Dimension Information Technology (DDIT), ICOP's partner in the Kingdom of Saudi Arabia, to establish a joint venture company, to expand the delivery of Homeland Security solutions in Saudi Arabia and other Gulf Cooperation Council (GCC) countries in the Middle East.

10:00

ICOP ICOP Digital announces it has entered into a Memorandum of Understanding with Developed Dimension Information Technology (0.37 +0.01)

Co announces it has entered into a Memorandum of Understanding with Developed Dimension Information Technology (DDIT), ICOP's partner in the Kingdom of Saudi Arabia, to establish a joint venture company, to expand the delivery of Homeland Security solutions in Saudi Arabia and other Gulf Cooperation Council (GCC) countries in the Middle East.

10:00

RICK Rick's Cabaret reports January sales rose 20.75%; same club sales rose 14.65% over previous year (10.97 -0.13)

Co says sales at its nightclubs in January rose 20.75% over January 2009, while same club sales climbed 14.65% over the previous January. The company said sales at its clubs totaled $6.8 million for the month of January, compared with $5.6 million in the previous January. Sales at clubs operated for more than a year were $6.3 million, compared with $5.5 million in the previous January.

09:58

SPY S&P 500 continues to vacillate near resistance -Update- -Technical-

Highlighted the resistance level (1071/1073) in The Technical Take and the 09:50 update but wanted to provide a chart (Daily S&P 500).

09:50

C Citigroup: S&P revises outlook on Citigroup to negative from stable (3.21 +0.06)

Standard & Poor's Ratings Services said that it revised its outlook on Citigroup to negative from stable. At the same time, we affirmed our counterparty credit and debt ratings on Citi (A/A-1; holding company). In light of what we view as improved stand-alone characteristics, we raised the ratings on its hybrid capital issues to 'BB-' from 'B+' (excluding its preferred stock, which we affirmed at 'C'). "The outlook revision reflects our increased uncertainty about the U.S. government's willingness to provide additional extraordinary support to highly systemically important financial institutions in a way that will benefit debt holders. We previously stated our belief that the extraordinary support was temporary. We believe markets are beginning to stabilize and the U.S. government is seeking ways to reduce the potential for moral hazard and systemic risk associated with large financial institutions," said Standard & Poor's credit analyst Scott Sprinzen.

09:50

SPY S&P 500 pauses after minor breach of Monday high -Update- -Technical-

The index (currently at 1067) was able to slightly penetrate yesterday's peak in opening trade but has thus far again stalled at the 1071/1073 resistance zone highlighted in The Technical Take Monday. For this morning a hold above/near supports at 1066 and 1064 would not inflict any damage, keeping the early firmer pattern intact. There is a minor barrier above at 1078 followed by the 1080/1082 area.

09:47

ECONX Reminder: Wholesale Inventories data due out in about 13 min at 10:00ET

09:45

COIN Converted Organics: The Home Depot re-orders Converted Organics' products for 2010 Season (0.91 +0.13)

Co announced that it shipped a re-order for its organic Lawn & Turf fertilizer to The Home Depot (HD). The Home Depot placed its initial order for Converted Organics' all-natural Lawn & Turf fertilizer in December, 2008 through distributor New England Pottery, an affiliate of Central Garden & Pet.

09:41

BAC Bank of America: S&P revises outlook to Negative From Stable; Ratings Affirmed (14.74 +0.26)

09:39

SLX Sector Watch -Technical-

Top performing sectors in the early going include: Airline +4.9%, Steel SLX +4.2%, Coal KOL +3.3%, Solar TAN +3.3%, Ag/Chem MOO +3%, Gold Miners GDX +2.9%, Shipping SEA +2.5%, Oil Service OIH +2.4%, Paper +2.3%, Casino +2.1%.

09:38

UAUA UAL Corp. pushes through some Jan. resistance/congestion tops surrounding 14~14.15 into fresh 52 week highs off the open (14.40 +1.33) -Technical-

14.50 HoD marks the best levels traded since late 2008.

09:37

ALD Allied Capital: Prospect Capital makes best and final offer for allied as a superior proposal compared to "back-room" Ares/Allied Deal (3.85 +0.11)

Prospect Capital Corporation (PSEC) sent to the Board of Directors of Allied Capital Corporation the letter: " Despite the serious flaws in the process, and your attempt to obfuscate the actual relative merits of the Prospect proposal, we remain convinced that the price offered by Ares falls far below the actual value of Allied and that a Prospect-Allied merger would create synergies and unlock significant value for the mutual benefit of our shareholders. While we continue to believe that Prospect's last proposal which you have rejected was a superior and compelling proposal that would provide Allied shareholders greater value, we are now prepared to make our best and final offer, subject to due diligence. Accordingly, we hereby increase our offer to acquire Allied Capital Corporation to 0.4416 of a share of Prospect common stock for each share of Allied common stock. The implied value of this best and final offer is now 25% greater than the implied value of Ares' offer to Allied shareholders, based upon closing prices of Ares and Prospect common stock on February 8, 2010. This offer expires on Wednesday, February 17, 2010 at 5:00 p.m. Eastern Standard Time unless you have indicated to us in writing prior to that time that you wish to engage in discussions with us relating to our offer. "

09:36

SPY Stock indices firmly higher amid broad based strength -Technical-

The Nasdaq +27 is outperforming thus far with it breaking above yesterday's high. The Dow +117 has also edged above Monday's peak while the S&P +13 is hovering just under (at 1071 session high 1070).

09:30

PNSN Penson Worldwide announces TradeKing signs long-term US clearing agreement; terms not disclosed (8.10 +0.30)

TradeKing plans to announce additional details for its customers closer to the time of conversion, which is expected in approximately the middle of the year. At December 31, 2009, TradeKing had 190,000 accounts, up 51% from year end 2008.

09:24

MORN Morningstar acquires Footnoted.org; terms not disclosed (45.24 )

Co announces it has acquired the Footnoted business of Financial Fineprint Inc., a privately held firm. The acquisition includes the Footnoted.org website and the Footnoted Pro service. Terms were not disclosed. Footnoted.org unearths critical information buried in the fine print, such as evidence of aggressive accounting, excessive compensation, or the type of questionable self-dealing that can indicate more serious problems at a company.

09:19

PMFG PMFG Inc postpones conference call and earnings release while it resolves an accounting issue (12.78 )

Co announces that it will postpone the release of its results of operations for Q2 and the related conference call which was previously scheduled for Tuesday, February 9, 2010, at 10:00 a.m. while it resolves an accounting issue related to the calculation of the fair value of the embedded derivative features of our preferred stock issuance dated September 4, 2009.

09:16

VSR Versar awarded $13 mln subcontract to provide chemical munitions destruction using explosive detonation technology (2.64 )

09:06

TBUS DRI Corp announces order from "major transit operator in Belgium"; valued at ~$1.4 mln (1.58 )

09:03

DDR Developers Diversified Rlty prices public offering of 37,295,000 shares of common stock at price of $8.16/share (8.33 )

09:01

ISTA ISTA Pharm issues guidance for 2010; sees net revenue of $147-$165 mln vs. $147.9 mln consensus (3.59 )

Co issues guidance for 2010, sees net revenue of $147-$165 mln vs. $147.9 mln consensus. In addition, ISTA's management anticipates reporting its first profitable year in 2010, with earnings per share for the full year expected to be at least $0.02 (consensus $0.16), excluding any mark-to-market adjustments relating to warrants. Co expects its operating income for 2010 will be $8 to $10 mln. Co expects its business to generate $6 to $10 mln in cash in 2010.

09:00

TRGL Toreador Royalty prices a 3 mln share common stock offering at $8.50/share (10.16 )

09:00

JOEZ Joes Jeans finalized nine leases for outlet stores (1.93 )

Co announced that it has finalized nine leases for outlet stores located at Premium Outlet Centers throughout the country. The addition of these stores will bring the Company's existing store portfolio to 15 stores. The Company anticipates opening 5 of the 9 stores by the end of the second quarter with the balance opening in the third quarter.

08:59

DCTH Delcath announced the signing of its first agreement in Asia; Minimum value to co expected to be ~$10 mln (4.82 )

Co announced the signing of its first research, distribution, sales and marketing agreement for its Percutaneous Hepatic Perfusion (PHP) System (the Delcath PHP System). The agreement grants Chi-Fu Trading the exclusive right to market and sell the Delcath PHP System in Taiwan for hepatic malignancies and infectious disease upon Taiwan Food and Drug Administration (TFDA) approval, and any other approved use, with a conditional option for Singapore. Under terms of the agreement, Chi-Fu will fund and manage clinical studies at up to four sites to gather data for submission to Taiwan government regulatory agencies for approval. Any regulatory filings will be in the name of Delcath Systems, Inc. For the clinical studies, Chi-Fu will purchase, at a discount, Delcath PHP Systems to treat up to 200 patients with hepatic cancer. Any additional systems required will be sold at a confidential distributor price. It is intended that at least two of the clinical study sites will become reference sites when the studies are completed.

08:57

EVEP EV Energy prices its 3 mln share common units offering at $28.08/share (29.54 )

08:44

SLRC Solar Capital prices 5.0 mln share IPO at $18.50 per share, below the expected $19-21 range

08:37

On The Wires

China Gerui Advanced Materials Group Limited (CHOP) announces that it has launched a new corporate website under the domain name of www.geruigroup.com... Rovi (ROVI) announces that Samsung will use Rovi's media recognition technologies to facilitate finding and purchasing content in its PC Applications worldwide. Samsung has signed an agreement with Rovi for the use of both its music metadata and LASSO media recognition solutions... Cerus Corporation (CERS) announces that it has entered into a collaborative agreement with France's national transfusion service, the Etablissement Francais du Sang for the development of the company's INTERCEPT Blood System for red blood cells. Terms of the agreement call for the EFS to co-invest by contributing its facilities, personnel and resources in support of clinical and commercial product development, validation, and both CE mark and French regulatory approvals. In return, EFS has certain royalty rights on future product revenue.

08:35

GET Gaylord Entertain reports loss per share of $0.01, beats on revs (19.39 )

Reports Q4 (Dec) loss of $0.01 per share. Loss from continuing operations in 4Q09 included a pre-tax $6.0 mln loss on the purchase and redemption of the $259.8 mln remaining principal amount outstanding of the company's 8% senior notes. May not compare to the First Call consensus of $0.09; revenues fell 0.5% year/year to $249.4 mln vs the $236.1 mln consensus. "For the full year 2010, we are anticipating Gaylord Hotels RevPAR to range from a decline of 2.0 percent to an increase of 1.0 percent compared to full year 2009. We anticipate Gaylord Hotels Total RevPAR to range from a decline of 1.0 percent to an increase of 2.0 percent compared to the full year 2009. We are also providing Gaylord Hotels CCF guidance of $210-$226 mln. For the Opry and Attractions segment, we are placing CCF guidance at $10-$12 mln, and for our Corporate and Other segment we are guiding CCF performance of a loss of $44-$41 mln. As such, we expect our total CCF performance to be in the range of $176-$197 mln."

08:34

TIN Temple-Inland misses by $0.10, beats on revs (16.45 )

Reports Q4 (Dec) loss of $0.07 per share, excluding $0.41 in alternative fuel mix tax credits, $0.10 worse than the First Call consensus of $0.03; revenues fell 13.2% year/year to $845 mln vs the $836.3 mln consensus. "As we enter 2010, we are focused on fully implementing the current box price increase and continuing to structurally lower our costs in Corrugated Packaging. In Building Products, our low-cost assets and favorable product mix position us to fully capitalize on an economic rebound and recovery in housing."

08:32

VSH Vishay beats by $0.04, beats on revs; guides Q1 revs above consensus (8.07 )

Reports Q4 (Dec) earnings of $0.16 per share, excluding items, $0.04 better than the First Call consensus of $0.12; revenues rose 5.5% year/year to $607 mln vs the $591.1 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $630-$670 mln vs. $594.57 mln consensus.

08:32

TPI Tianyin Pharma expects operational benefits from the recently published Guide to Reform of Pricing Mechanism of Medicine and Medical Services (4.10 )

Co announced that it expects operational benefits from the recently published Guide to Reform of Pricing Mechanism of Medicine and Medical Services by the Chinese government. On November 9, 2009, the Chinese National Development and Reform Commission, the Ministry of Health, and the Ministry of Human Resource and Social Security released a comprehensive Guide proposed to protect and foster the development of Chinese Medicine, which is aimed at benefiting the pharmaceutical companies focusing on specialized Chinese medicines like Tianyin Pharmaceuticals. The Guide requires that the pricing of medicine and medical services should reflect the quality differential. As such, the government will support higher sales prices set by the overall market for pharmaceutical companies which develop specialized products with strong efficacy for specific indications. The Guide also defined maximum profit margins for national and local distributors, which will further reduce the overall distribution costs of medicine and improve margins for the producers.

08:31

ASTM Aastrom Biosciences announces one-for-eight reverse stock split (0.21 )

08:31

SQNM Sequenom licenses worldwide rights to develop age-related macular degeneration diagnostic test (4.13 )

Co announces an exclusive worldwide licensing agreement with Optherion, Inc. Under the agreement, Sequenom's CAP accredited and CLIA-certified laboratory, Sequenom Center for Molecular Medicine, obtained the rights to develop and commercialize diagnostic tests to predict genetic predisposition to late stage age-related macular degeneration. The license agreement covers extensive intellectual property rights for the most significant AMD-related genetic variants that have been confirmed in multiple clinical studies around the world. The portfolio of intellectual property being licensed has been consolidated from major US universities who have spearheaded genetic and clinical AMD research during the last decade.

08:27

COMDX Natural gas drops sharply out of positive territory to its lowest levels of the morning; currently down 0.2 cents to $5.399

08:18

PPS Post Properties announces at-the-market offering (17.76 -0.54)

Co announces that it has filed a prospectus supplement under which it may sell up to 4 million shares of its common stock from time to time.

08:13

On The Wires

Penwest Pharmaceuticals (PPCO) announces that it has initiated a Phase IIa clinical trial for A0001 in patients with the A3243G mitochondrial DNA point mutation and evidence of impaired mitochondrial function. This point mutation is commonly associated with MELAS syndrome... WidePoint Corporation (WYY) announces that its wholly-owned subsidiary, Advanced Response Concepts Corporation, has acquired the assets and relationships of VUANCE Government Solutions Division, which focuses on security solutions for locating, credentialing, and managing essential personnel. Co expects the asset purchase to be accretive to WidePoint during 2010. WidePoint will pay approximately $550,000 for the acquired assets, and the assumed liabilities and related expenses in this transaction... AirTran Airways, a subsidiary of AirTran Holdings (AAI), and the Transportation Workers Union, announce the successful membership ratification by an overwhelming margin of a new 48-month collective bargaining agreement... Palatin Technologies (PTN) announces the completion of first cohort dosing in a placebo-controlled, multiple dose study of bremelanotide, its experimental treatment for sexual dysfunction. The primary endpoint in this double-blind safety study is evaluation of blood pressure effects of subcutaneous bremelanotide in men between 45 and 65 years old. The study will also evaluate consistency of plasma exposure of bremelanotide given as repeated subcutaneous injections... Navistar (NAV) has signed a concept development agreement with Clean Air Power to develop Navistar's MaxxForce 13 big bore engine to run on natural gas and clean diesel fuel for the North American market.

08:09

AGCO AGCO Corp beats by $0.12, beats on revs; guides Q1 EPS below consensus; guides FY10 EPS in-line, revs above consensus (30.44 )

Reports Q4 (Dec) earnings of $0.42 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $0.30; revenues fell 14.1% year/year to $1.85 bln vs the $1.69 bln consensus. Excluding favorable currency translation impacts of approximately 10.1%, net sales in the fourth quarter of 2009 decreased approximately 24.2% compared to the same period in 2008. Co issues downside guidance for Q1, sees EPS of ($0.15)-($0.10), excluding non-recurring items, vs. $0.00 consensus, with tight dealer inventory management in North America and Europe expected to drive lower production and sales levels (cons: -17.7% YoY). Co issues mixed guidance for FY10, sees EPS of $1.55-1.65, excluding non-recurring items, vs. $1.63 consensus; sees FY10 revs of $6.6-6.8 bln vs. $6.35 bln consensus. Worldwide industry demand is expected to be mixed in the first half of 2010, with stronger market conditions in Brazil expected to offset weaker conditions in North America and Europe. Demand in North America and Western Europe is expected to stabilize during 2010, making comparisons to 2009 more favorable in the second half of the year. Continued economic weakness in the Commonwealth of Independent States and Eastern Europe is expected to keep industry demand at very low levels in those markets throughout 2010. Gross margin improvements are expected to be offset by higher engineering expenses for new product development and Tier 4 emission requirements, as well as higher pension costs.

08:09

CYNO Cynosure reports Q4 results

Reports Q4 (Dec) loss of $1.14 per share which included the charge for the valuation allowance against deferred tax assets and the inventory write-down and may not be comparable to the First Call consensus of ($0.11); revenues fell 24.3% year/year to $19.3 mln vs the $20.7 mln consensus. Cynosure President and Chief Executive Officer Michael Davin commented that, "The aesthetic industry continued to experience the effects of the economic downturn in the fourth quarter,"..."Lack of available credit remains a major impediment, as the restrictive lending environment has continued to make it difficult for many practitioners to purchase aesthetic capital equipment..."We believe the lending climate will gradually improve in the coming quarters, and we are optimistic that as economic conditions recover the underlying demand among practitioners and consumers will support a return to top-line growth," Davin said. "Our focus for the year ahead will be on returning to growth while continuing to appropriately size the company for the current economic and business climate. In 2010, we are committed to lowering our annual operating expenses by another $5 million to $7 million from 2009, a goal we believe we can attain without losing strength in our core competencies. While we cannot predict the pace of economic recovery, we believe that our market position and strong balance sheet will enable us to gain momentum as the year progresses."

08:05

CLWT Euro Tech Holdings announces that its subsidiary, Yixing PACT Environmental Technology, has been awarded a contract by a Korean stainless steel company worth about $ 3.8 mln (1.81 )

08:05

RTIX RTI Biologics misses by $0.01, misses on revs; guides FY10 EPS in-line, revs below consensus (3.11 )

Reports Q4 (Dec) earnings of $0.03 per share, $0.01 worse than the First Call consensus of $0.04; revenues rose 12.3% year/year to $42 mln vs the $43.2 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.15-$0.17 vs. $0.17 consensus. Assuming foreign currency exchange rates remain near year-end 2009 levels, the company estimates that foreign currency translation adjustments will increase revenues by approximately 1% for FY10, resulting in reported revenue growth between 6%-8%, or $174.5-$177.5 mln (vs. $180.62 mln consensus). On a constant currency basis the co sees FY10 revs increasing between 5%-7% (which calculates to roughly $172-$176 mln).

08:05

ID L-1 Identity Solutions awarded a contract by the Commonwealth of Kentucky; total contract value to approximately $33.7 million (7.34 )

Co was awarded a contract by the Commonwealth of Kentucky to provide a secure driver's license solution with facial recognition as part of the Kentucky Transportation Cabinet's effort to protect the public and prevent fraud. The contract with L-1 includes a base three-year term valued at approximately $11.1 million and three additional two-year extension options that bring the total contract value to approximately $33.7 million.

08:03

CHTT Chattem notice of fundamental change conversion rights to holders of convertible senior notes (93.32 )

Co announced that, pursuant to the terms of the indentures governing its 2.00% convertible senior notes due 2013 and 1.625% convertible senior notes due 2014 as a result of the successful completion of the tender offer, commenced by River Acquisition for all outstanding shares of common stock of Chattem for $93.50 per share, net to the seller in cash, without interest and less any required withholding taxes pursuant to the Agreement and Plan of Merger, dated December 20, 2009, among Chattem, sanofi-aventis and River Acquisition Corp. Pursuant to the Indentures, the holders of the Notes have the right to convert their Notes according to the terms of the Indentures at any time before the close of business on the business day immediately preceding the 45th day after the Fundamental Change Effective Date. Chattem intends to settle conversion of the Notes, in cash, based on a conversion value determined with a price per share of Chattem common stock of $93.50, as soon as practicable after holders surrender their Notes for conversion.

08:02

IT Gartner beats by $0.02, beats on revs; guides FY10 EPS in-line, revs above consensus

Reports Q4 (Dec) earnings of $0.28 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.26; revenues fell 5.3% year/year to $328.8 mln vs the $317.7 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.91-1.03, excluding non-recurring items, vs. $0.94 consensus; sees FY10 revs of $1249-1289 mln vs. $1.23 bln consensus.

08:02

PCH Potlatch beats by $0.03, beats on revs (30.31 )

Reports Q4 (Dec) earnings of $0.07 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.04; revenues rose 11.2% year/year to $104.1 mln vs the $86.8 mln consensus. "Our outlook for 2010 shows improvement as we move through the year. We expect operations in the first half to remain challenging but expect improved fundamentals as we move into the second half. We do expect an upturn in the housing market, but not until the second half of the year. The recent strengthening in lumber prices will benefit our Wood Products business and this trend, coupled with gradual improvement in housing starts, should lead to stronger demand and pricing for logs. We were encouraged that prices stabilized in our Resource business during the second and third quarters of 2009, and the slight dip in fourth quarter prices appears to have been temporary as prices have shown improvement early in Q1 2010. We anticipate increasing harvest volumes to approximately 4.2 million tons for 2010, but this will be dependent on improved pricing and is weighted to the back half of the year. In our Real Estate segment, we expect the business to perform very similar to the results we experienced in 2009. This outlook is supported by consistent performance throughout 2009, continued interest in our non-strategic timberlands and pricing that has remained stable. We remain optimistic about our long term prospects, as our businesses are positioned well for the housing market recovery."

08:02

DFZ R.G. Barry reports Q2 EPS of $0.74 vs. $0.56 a year ago; sales of $55.6 mln vs. $48.9 mln a year ago (8.91 )

"We continue executing at a level that places us among the best in our industry," said Greg Tunney, President and Chief Executive Officer. "Our year-over-year, double-digit net sales increase and higher profitability stem from the strong sell-through we experienced across most retail channels during our first half. We take great pride in the fact that this healthy performance is being measured against our results from the equivalent period last year, which were among the best reported in our sector. We view today's results as a reaffirmation of the ability of our business model to adapt and perform well, even during uncertain economic times."

08:01

OSIS OSI Systems advanced body scanners to be deployed at Heathrow and Manchester International Airports in the United Kingdom (26.33 )

Co announced Rapiscan Systems has deployed its Advanced Imaging Technology Secure 1000 Single Pose body scanners at Heathrow and Manchester International Airports in the United Kingdom. The deployments follow the announcement by the UK Department for Transport that it will use the Advanced Imaging Technology systems in wake of the failed terrorist incident on Northwest Airlines Flight 253 on December 25, 2009. The mandate calls for the use of these systems in airports in the United Kingdom for the screening of passengers.

08:00

TMM Grupo TMM announced that Fernando Sanchez Ugarte resigned his position today (3.15 )

Co announced that Fernando Sanchez Ugarte, who has served as president of Grupo TMM for the past two years, resigned his position today. The Company's Executive Committee accepted Mr. Sanchez Ugarte's resignation and agreed that Jose F. Serrano, chairman of the board, will continue to serve as chief executive officer.

07:59

MCD McDonald's reports global comparable sales increased 2.6% in January (62.92 )

Co reports that that global comparable sales increased 2.6% in January. Performance by segment was as follows: U.S. down 0.7%; Europe up 4.3%; Asia/Pacific, Middle East and Africa up 4.3%. U.S. comparable sales were down slightly in January, still outpacing the overall quick-service restaurant industry. In Europe, comparable sales rose 4.3% for the month fueled by France, the U.K. and many other markets, partly offset by Germany. January comparable sales in Asia/Pacific, Middle East and Africa (APMEA) were up 4.3% led by performance in Japan and Australia, partly offset by a difficult comparison in China and other markets due to the timing of Chinese New Year.

07:46

COMDX Crude oil is also trading at its best levels of the morning on the dollar's weakness; currently higher by $1.11 to $73.00

Session highs are now at $73.04.

07:41

On The Wires

EMCOR Group (EME) announces that its Poole and Kent Company of Florida subsidiary has received a general construction contract from the Miami-Dade Water and Sewer Department for the South District Wastewater Treatment Plant in Miami, Florida... PolyOne Corporation (POL) and BASF Engineering Plastics announce that PolyOne Distribution will add to its portfolio BASF's advanced polymers for healthcare... Goodyear Tire & Rubber Company (GT) has been selected as the exclusive developer of fuel-efficient military tires for the Fuel Efficient Ground Vehicle Demonstrator program, under a contract awarded to Ricardo, Inc., the U.S. subsidiary of Ricardo plc... MWI Veterinary Supply (MWIV) announces that it has acquired Centaur Services Limited, a supplier of animal health products and services to veterinarians in the United Kingdom. The transaction is valued at ~$47 mln, consisting of $45 mln in cash and $2 mln in a note payable in one year... HSW Int'l (HSWI) announces that its board of directors authorized a 10-for-1 reverse split of its issued and outstanding common shares, effective for shareholders of record on February 10, 2010... Ballard Power Systems (BLDP) announces that it has entered into a sale-and-leaseback agreement with Madison Pacific Properties. Ballard will sell its head office building site in Burnaby, British Columbia in return for gross cash proceeds of approximately $19.5 million. The company will also enter into an initial fifteen-year lease agreement for the same property. The transaction is expected to close on March 9, 2010... Cray Inc. (CRAY) announces that new customers in Japan, Europe and the United States have purchased midrange supercomputing systems from Cray... CNOOC Limited (CEO) announces that its partner, Husky Oil China Limited, has made a new deepwater gas discovery, LiuHua 29-1 on Block 29/26, marking another important step of the deepwater exploration in the South China sea... Targeted Genetics (TGEN) announces that it has completed the technology transfer portion of the September 2009 asset sale transaction executed between the Company and Genzyme Corporation and has received the full $7.0 mln provided for in the asset purchase agreement.

07:40

COMDX Gold and silver surge to their best levels in electronic trade, at $1078.40 and $15.36, as the dollar index trades to its worst levels

Gold is now higher by $11.80 to $1078 and silver is up 29 cents to $15.375.

07:35

CERS Cerus reports positive outcome of Phase 1 Clinical Trial of INTERCEPT red blood cells (1.99 )

Co announced that its Phase 1 trial of red blood cells treated with the INTERCEPT Blood System met its primary endpoint, with preliminary analysis demonstrating that greater than 75 percent of treated cells continued to circulate 24 hours following transfusion. The INTERCEPT red blood cell system is a pathogen inactivation treatment the company is developing to protect against transmission of infectious diseases through red blood cell transfusions. An estimated 70 million units of red blood cells are transfused worldwide each year.

07:35

ATRO Astronics beats by $0.15, misses on revs; guides FY10 revs below consensus (7.55 )

Reports Q4 (Dec) earnings of $0.25 per share,ex-items, $0.15 better than the First Call consensus of $0.10; revenues rose 2.7% year/year to $45.6 mln vs the $46.8 mln consensus. Co issues downside guidance for FY10, sees FY10 revs of $170-$190 mln vs. $199.09 mln consensus. Astronics anticipates that approximately $145 ml to $155 mln of projected 2010 revenue will be from the Aerospace segment, while approximately $25 mln to $35 mln will be from the Test Systems segment. Co states, "Looking beyond 2010, we are encouraged in our aerospace markets by the next generation of commercial transports, such as the Boeing 787 and Airbus A380, which will have greater Astronics' content than the aircraft they are replacing. We are also expanding Astronics' content value on future platforms in both the business jet and military markets with the Lear 85, Cessna CJ4, the V-22 and the F-35."

07:33

CHTP Chelsea Therapeutics announces several updates related to its Phase III registration program in neurogenic orthostatic hypotension (2.72 )

Co announces several updates related to its Phase III registration program in neurogenic orthostatic hypotension, including the selection and preliminary approval by the FDA of Northera as the U.S. brand name for Droxidopa in this indication. As previously announced, Chelsea had a successful meeting with the FDA last quarter during which the company reviewed results from Study 302, its first Phase III trial of Northera in NOH, and requested a change in primary endpoint for its ongoing Phase III trial, Study 301. The FDA granted this request and further supported Chelsea's decision to increase enrollment in Study 301 from 118 patients to 150 patients. The FDA subsequently confirmed that the Special Protocol Assessment originally awarded to Study 301 in 2008 remained in effect following the protocol amendments approved by the FDA in December. An SPA provides a binding agreement that the study design, including trial size, clinical endpoints and/or data analyses is acceptable to support regulatory approval. Chelsea plans to complete the added enrollment in Study 301 during the second quarter and report top-line data from the study in the third quarter 2010. In addition to implementing changes to Study 301, Chelsea finalized its plans for Study 306, a confirmatory study supporting the efficacy of Northera in treating symptomatic NOH. Study 306 will be a multinational, randomized, placebo-controlled, induction-design Phase III trial evaluating up to 84 patients with symptomatic NOH associated with Parkinson's disease. Enrollment, which is scheduled to begin during the second quarter 2010, is expected to be complete by year-end, providing for top-line data in the second quarter of 2011.

07:33

IACI InterActive beats by $0.02, beats on revs (21.16 -0.01)

Reports Q4 (Dec) earnings of $0.20 per share, $0.02 better than the First Call consensus of $0.18; revenues rose 4.6% year/year to $367.2 mln vs the $339.6 mln consensus. Free Cash Flow for the twelve months ended December 31, 2009 was $196.9 million, up 343% over the prior year, while cash flow attributable to continuing operations was $331.5 million, up 208% over the prior year.

07:33

ANV Allied Nevada announces preliminary operating results (12.82 )

Co announces preliminary operating results for the year ended December 31, 2009 and an outlook for 2010. Cost of sales per ounce of gold sold(1) is expected to be approximately $385 for the fourth quarter of 2009 with full year costs expected to be approximately $392 per ounce, better than the full-year guidance of $460-$480 per ounce previously reported. Costs were well below expectation due to lower than expected commodity prices, the mining of more ounces due to higher than anticipated grades and treatment of silver as a byproduct credit.... With operations at Hycroft at steady-state production rates, we are expecting to mine approximately 19 million tonnes of material including approximately 11 million tonnes of ore at an average grade of 0.56 g/t gold and 9.7 g/t silver. Gold sales are expected to be approximately 100,000 ounces at a cost of sales per ounce of gold sold(1) of between $400-$450 in 2010. Capital expenditures in 2010 are expected to be approximately $20 million.

07:33

KO Coca-Cola misses by $0.01, beats on revs (52.65 )

Reports Q4 (Dec) earnings of $0.66 per share, $0.01 worse than the First Call consensus of $0.67; revenues rose 5.4% year/year to $7.51 bln vs the $7.21 bln consensus. Co says while net revenue was favorably impacted during the quarter by positive concentrate pricing, geographic country mix offset this benefit as economic recovery in emerging markets outpaces the rest of the world. Additionally, fourth quarter net revenues were impacted by six fewer selling days versus the prior year quarter. Excluding the impact of six fewer selling days, they estimate that fourth quarter currency neutral net revenues would have been in line with their long-term target. For the full year, comparable currency neutral net revenues excluding structural changes increased 4%. Cost of goods sold increased 3 percent in the quarter. This increase is primarily driven by the 1 percent increase in concentrate sales and a 6 percent impact from currencies, offset by a favorable impact from lower input costs.

07:32

NVS Novartis gains exclusive rights to Debio 025, an antiviral agent in Phase IIb development as potential first-in-class Hepatitis C Therapy (53.08 )

07:31

KVHI KVH Industries beats by $0.07, beats on revs; guides Q1 EPS in-line, revs in-line (13.23 )

Reports Q4 (Dec) earnings of $0.13 per share, $0.07 better than the First Call consensus of $0.06; revenues rose 24.1% year/year to $26.3 mln vs the $25.5 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.03-$0.07 vs. $0.04 consensus; sees Q1 revs of roughly $26 mln vs. $26.15 mln consensus. "Given the continuing state of economic uncertainty, we do not think it would be prudent to provide specific full year financial guidance at this time. However, we do believe that we are positioned well to take advantage of any strengthening of the economy. We expect 2010 to be a year of strong top line growth and progressively improving bottom line performance within the context of normal leisure market seasonality. We believe that our fiber optic gyro sales should show solid year-over-year growth but we do not expect a repeat of the more than 200% year-over-year growth experienced in 2009. We expect significant benefit in on-going sales and margin expansion following the anticipated completion of the mini-VSAT Broadband infrastructure in the second quarter. By the second half of the year we expect to be in a position to more fully leverage the mini-VSAT infrastructure on a global scale. One challenge that we will face is an unusual shipment schedule to LiveTV for aeronautical antennas. To support LiveTV's planned realignment of its inventory with its installation schedule, we will ship systems to LiveTV during the first half of 2010, and then resume antenna shipments in the first quarter of 2011."

07:30

NUS Nu Skin announces 9% increase in quarterly dividend to $0.125 per share (26.01 )

07:22

CLDA Clinical Data reports 3Q10 loss per share of ($0.63) vs. ($0.65) First Call consensus; revenue increased 12.5% y/y to $3.1 mln vs. $3.6 mln consensus (14.79 )

Cash and cash equivalents at December 31, 2009, were $70.2 mln. This included net proceeds of $44.2 mln raised from a public offering of 2,750,000 shares of common stock at a price of $17.25 per share completed in November 2009.

07:22

BIIB Biogen Idec beats by $0.15, reports revs in-line; guides FY10 EPS above consensus (52.84 )

Reports Q4 (Dec) earnings of $1.20 per share, $0.15 better than the First Call consensus of $1.05; revenues rose 5.4% year/year to $1.13 bln vs the $1.13 bln consensus. Co issues upside guidance for FY10, sees EPS of above $4.55 vs. $4.37 consensus. Revenue growth in 2010 is expected to be in the mid single digits. Biogen Idec Q4 Drug Sales and First Call Consensus: Avonex $596.5 mln vs. $591 mln consensus; Tysabri $216.2 mln vs. $244 mln; Rituxan $257 mln vs. $268 mln consensus.

07:21

ANR Alpha Natural Resources beats by $0.06, beats on revs (40.40 )

Reports Q4 (Dec) earnings of $0.51 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.45; revenues rose 53.1% year/year to $893.3 mln vs the $824.5 mln consensus. Coal revenues were higher than the year-ago period due to the inclusion of $393.8 mln from the former Foundation operations which more than offset reduced shipment levels and coal revenues from Alpha's stand-alone operations as the co continued to match shipments with current customer demand. During 4Q09, Alpha shipped 12.1 million tons of Powder River Basin coal, 6.6 million tons of Eastern steam coal and 2.6 million tons of metallurgical coal. Average per ton realization for PRB shipments rose sequentially to $10.52 compared with $10.39 in the previous quarter. The average realization per ton for Eastern steam coal shipments was $62.57, down from $64.43 in the third quarter of 2009, and the average per ton realization for metallurgical coal was $97.18 in the fourth quarter compared with $96.94 in the previous quarter. Alpha has increased its 2010 shipment guidance range for metallurgical coal by one million tons to a range of 11-13 million tons, up from the previous range of 10-12 million tons. Likewise, Alpha is adjusting its Eastern steam coal shipment guidance to a range of 23-26 million tons in order to match production with expected demand. In the West, 2010 shipment guidance remains unchanged as Alpha has committed and priced approximately 100% of anticipated shipments. Cost of coal sales per ton in 2010 are currently anticipated to range from $8.30 to $8.90 in the West and from $54.00 to $57.00 in the East. Alpha is also establishing volume guidance for 2011: PRB shipments in 2011 are expected to range from 48 million tons to 52 million tons, with 77% committed and priced at prices $1.00 greater than the average realizations embedded in the 2010 committed and priced volumes.

07:19

CAM Cameron beats by $0.01, beats on revs; guides Q1 EPS below consensus; guides FY10 EPS in-line (36.91 )

Reports Q4 (Dec) earnings of $0.54 per share, ex-items, $0.01 better than the First Call consensus of $0.53; revenues fell 3.9% year/year to $1.46 bln vs the $1.29 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.48-$0.50 vs. $0.51 consensus. Co issues in-line guidance for FY10, sees EPS of $2.10-$2.20 vs. $2.18 consensus. Co said that it expects cash flow in 2010 to comfortably fund the company's needs, with capital expenditures anticipated to total approximately $180 mln.

07:19

IFF Intl Flavors beats by $0.01, beats on revs (39.85 )

Reports Q4 (Dec) earnings of $0.63 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.62; revenues rose 8.7% year/year to $586 mln vs the $574.8 mln consensus.

07:16

CHD Church & Dwight beats by $0.03, beats on revs; guides FY10 EPS above consensus (60.57 )

Reports Q4 (Dec) earnings of $0.83 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.80; revenues rose 4.0% year/year to $670.8 mln vs the $660.6 mln consensus. Co issues upside guidance for FY10, sees EPS of $3.93-4.00, excluding non-recurring items, vs. $3.88 consensus. Excluding the plant restructuring charge reflected in cost of sales ($10.7 million in 2009 and $4.4 million in 2008), gross margin was 44.1% in the fourth quarter, a 400 basis point improvement over the 40.1% gross margin in the prior year fourth quarter. The increase in gross margin reflects lower commodity costs, price increases and the benefits of cost reduction programs. "In 2010, we expect this winning strategy, and an outstanding new product line-up, to deliver projected organic sales growth of approximately 4-5%. On top of the extraordinary gross margin gains achieved in 2009, we expect continued margin expansion in 2010 which will be driven largely by the efficiencies from our new liquid laundry detergent facility in Pennsylvania. We also will be making a significant investment in 2010 to support a global information systems project that will strengthen our cost management capabilities. Finally, we are in an excellent position to pursue acquisition opportunities due to our strong balance sheet and free cash flow."

07:16

On The Wires

XOMA (XOMA) announces that enrollment is underway in a 325-patient Phase 2b dose-ranging clinical trial of its antibody candidate, XOMA 052, in Type 2 diabetes patients... WABCO Holdings (WBC) reports that WABCO's subsidiary WABCO-TVS Ltd. and original equipment manufacturer Mahindra Navistar Automotives Ltd. have announced an agreement for development and long term supply of air compressor technology, products for braking systems and clutch servo technology with series production starting in 2010.

07:16

GTS Triple-S Management beats by $0.08, beats on revs; guides FY10 EPS in-line, revs in-line (15.97 )

Reports Q4 (Dec) earnings of $0.83 per share, excluding $0.13 per share in net realized and unrealized gains on investments and derivatives, $0.08 better than the First Call consensus of $0.75. Co issues in-line guidance for FY10, sees EPS of $2.05-2.15 vs. $2.12 consensus; sees FY10 revs of $2.0-2.1 bln vs. $2.06 bln consensus.

07:14

PHM Pulte Homes misses by $0.12, beats on revs (11.13 )

Reports Q4 (Dec) loss of $0.31 per share, which is inclusive of $925 mln in impairment charges and may not be comparable to the First Call consensus of ($0.19); revenues rose 5.3% year/year to $1.73 bln vs the $1.5 bln consensus. Revenue from home sales in the fourth quarter ended December 31, 2009, totaled $1.6 bln, compared with $1.5 bln in last year's fourth quarter. Higher revenue for the quarter reflects a 13% increase in closings to 6,200 homes, partially offset by a 7% decrease in average selling price to $258,000. "We initiated a number of critical actions in 2009, the benefits of which can be seen in both the Company's fourth quarter results and its stronger position heading into 2010," said Richard J. Dugas, Jr., Chairman, President and CEO of Pulte Homes. "Fourth-quarter gains in sign-up pace, adjusted margins, overhead leverage, cash and other critical business metrics are reflective of the Company's improvement in overall business performance.

07:13

AHCI Allied Healthcare misses by $0.01, beats on revs (2.63 )

Reports Q1 (Dec) earnings of $0.06 per share, $0.01 worse than the First Call consensus of $0.07; revenues rose 12.8% year/year to $69.4 mln vs the $68.4 mln consensus.

07:12

ACM Aecom Tech beats by $0.01, misses on revs; reaffirms FY10 EPS guidance (25.80 )

Reports Q1 (Dec) earnings of $0.40 per share, $0.01 better than the First Call consensus of $0.39; revenues rose 1.9% year/year to $1.48 bln vs the $1.53 bln consensus. AECOM announced backlog totaling $10.0 bln at Dec. 31, 2009, an 11% increase YoY. Co reaffirms guidance for FY10, sees EPS of $1.90-$2.00 vs. $1.98 consensus.

07:11

LCAV LCA Vision beats by $0.30, beats on revs (5.91 )

Reports Q4 (Dec) loss of $0.19 per share, $0.30 better than the First Call consensus of ($0.49); revenues fell 35.3% year/year to $22 mln vs the $21.4 mln consensus. Procedure volume was 11,718 compared with 19,424. Same-store revenues (71 vision centers) decreased 33.3%. The co expects direct costs per center to decline slightly in 2010 from 2009, following an 18% decline in 2009 from 2008. The co expects capital expenditures of $1.2 million in 2010 for vision center renovations and equipment replacement. "Our decision to reduce fourth quarter marketing and advertising spending to less than $6 million in an effort to align marketing expenses with perceived consumer demand resulted in less than desired procedure volume. We are increasing marketing and advertising spending in the first quarter of 2010 to $9 million. Consumer marketing is critical to driving procedure volume and, in the past several months, we have conducted an extensive analytical evaluation of all marketing drivers with the objective of taking a more comprehensive data-driven approach to marketing."

07:10

ACLI American Commercial Lines beats by $1.03, beats on revs (16.16 )

Reports Q4 (Dec) earnings of $1.09 per share, $1.03 better than the First Call consensus of $0.06; revenues fell 16.5% year/year to $226.9 mln vs the $222.5 mln consensus. The decrease in revenue in 2009 was primarily due to changes in the mix of commodities shipped by our transportation customers, decreased towing revenue, lower grain freight rates and lower fuel prices (which are generally passed through to our customers). Total ton-mile volume declined by 1.4% compared to the fourth quarter 2008.

07:09

CE Celanese beats by $0.03, beats on revs (29.57 )

Reports Q4 (Dec) earnings of $0.50 per share, $0.03 better than the First Call consensus of $0.47; revenues rose 7.9% year/year to $1.39 bln vs the $1.25 bln consensus. The company noted that it remains confident, even absent a significant economic catalyst, in its ability to increase operating EBITDA in 2010 by approximately $200 million compared with 2009. The key areas of operating EBITDA growth include: increased volumes across all of its businesses totaling approximately $100 million, based on second half 2009 demand levels continuing into 2010; additional fixed spending reductions of approximately $100 million, driven by structural streamlining of the company's manufacturing and administrative functions.

07:08

AGU Agrium misses by $0.05, misses on revs (57.77 )

Reports Q4 (Dec) earnings of $0.19 per share which includes losses on gas and other hedge positions and stock based compensation, which according to First Call have been included in ests in the past, $0.05 worse than the First Call consensus of $0.24; revenues fell 25.7% year/year to $1.44 bln vs the $1.55 bln consensus. Co says grain and oilseed prices increased through the fourth quarter of 2009, driven by the latest U.S. corn harvest on record, positive global economic momentum and weakness in the U.S. dollar. Grain and oilseed futures prices declined somewhat in early January in response to higher than expected U.S. corn yield and production estimates released by the USDA. Despite historically strong production, record global demand for grains and oilseeds and overall improvement in the global economy has maintained grain and oilseed prices above historical averages. Phosphate fundamentals improved significantly in the second half of 2009, but the market was slow to react to a tighter supply and demand balance which contributed to increased volatility in the last month of the year. Phosphate prices increased by over 30% between mid-November and the end of December, as the market was ignited by Chinese import purchases, which was followed by improved demand from many destinations. Going forward, the supply situation appears tight heading into the spring. U.S. December DAP and MAP inventories were reported by TFI to be 38% below five-year average levels and 60 percent below December 2008. Non-integrated producer costs have increased as a result of higher input costs, including higher phosphate rock and phosphoric acid costs. Going forward, analysts expect India and Latin America to import more phosphate in 2010 versus 2009. Demand in the potash market showed significant signs of recovery at the beginning of 2010. Analysts report that there is considerable pent-up demand in the potash market as importers have been waiting for a Chinese potash contract to be agreed upon. North American purchases for spring applications increased in late December, and demand continued early in 2010. In addition, Brazilian potash inventories are reportedly tight and import demand is expected to rebound. India imported large volumes of potash in late 2009 but there is uncertainty on the timing of new 2010 purchases due to changes in global potash prices. In addition, the timing and impact of changes in Indian fertilizer subsidies to a proposed Nutrient Based Subsidy is an uncertainty in the potash and phosphate markets. Currently, Ukrainian nitrogen producers are paying a significantly lower price than the prevailing formula price at the Russia/Ukraine border but this is expected to change after the first quarter of 2010.

07:05

NTY NBTY reports prelim Jan sales increased 18% y/y to $228 mln (43.07 )

North American Retail same store sales increased 5% for the one month period. In local currency, (British Pound Sterling), European Retail net sales increased 7% and same store sales increased 4%.

07:05

NBR Nabors Ind 4Q09 results expected to beat estimates (21.53 )

Co expects 4Q09 results to modestly exceed mean estimates of $0.16 per diluted share, excluding estimated non-cash, pre-tax charges of approx $274 mln, or $0.65 per diluted share. The oil and gas segment incurred approx $255 mln of these non-cash, pre-tax charges, the majority of which resulted from year-end ceiling-test adjustments in unconsolidated joint venture entities which utilize the full-cost method of accounting. Gene Isenberg, Chairman and CEO, commented, "These sizable non-cash charges obscure what was otherwise a good quarter, with most of our larger units achieving improved results. The writedowns in our oil and gas segment reduce to less than $700 million the carrying value of both our joint venture companies and our wholly owned oil and gas interests. Nearly half of the impairments occurred in our largest joint venture, NFR Energy, roughly 80% of which is comprised of shale gas, bringing the carrying value to $112 million for our nearly 50% share of 1.0 tcfe in gross proved reserves and an equal amount of probable reserves. In contrast to our carrying value, the present value of future earnings from just these gross proved reserves, utilizing the NYMEX forward strip at a 10% discount, is approximately $1 billion. The implied market value of the gross reserves in this one entity approaches $2 billion using a price of $2.00 per mcfe for proved reserves, which is a commonly used valuation methodology for similar properties."

07:03

AEN Adeona appoints James S. Kuo, M.D., M.B.A., as Chairman, CEO and President (0.79 )

07:02

HEK Heckmann and Energy Transfer Partners, L.P. sign agreement to provide turnkey solutions for water flows created by oil and gas drilling (4.88 )

Heckmann Corporation (HEK) and Energy Transfer Partners, L.P. (ETP) announced that they have entered into an agreement to develop and implement transportation and treatment solutions for supply, drilling, flow back, produced, and other types of discharged waters generated in the Marcellus and Haynesville Shale natural gas development areas. The venture will be jointly funded and operated by the two companies on a 50/50 basis and is designed to exploit the parties' combined expertise in developing pipeline infrastructure and corresponding treatment facilities.

07:02

CONN Conns reports prelim Q4 revs declined 30% y/y to $171.0 mln vs $231.18 mln First Call consensus (5.34 )

Co improved its product gross margins to approximately 20% for the quarter ended January 31, 2010, as compared to the 18.5% experienced in the quarter ended October 31, 2009. Total revenues for the quarter, including revenues from finance charges and other, will be reported in the Company's earnings release and conference call scheduled for March 25, 2010.

07:00

SFG StanCorp Fin authorized an additional 3 million shares of StanCorp common stock to its current share repurchase program (39.42 )

06:56

FEED AgFeed Industries announces arrangement to sell a portion of its feed business to the public through an IPO (4.32 )

Co announces the proposed sale of a maximum of 20% of its animal nutrients feed subsidiary via a listing and initial public offering of the subsidiary's common stock. The IPO is anticipated to raise $20-25 mln and will be effected through the filing of a registration statement with the SEC that the SEC must declare effective before any common stock sales may occur. Dr. Songyan Li, AgFeed's Chairman, stated "the IPO reflects our Board's desire to provide dedicated capital to our animal nutrient business to develop its presence in other segments of the animal nutrition market, specifically the compound feed and concentrated feed markets which together comprise 95% of China's expanding production. For a number of years our focus has been on additive pre-mix that represents 5% of the market. The offering will enhance the ability of our animal nutrition business to pursue strategic initiatives and growth, upgrade personnel, foster innovation and raise capital while relying on the wisdom and practical experience of the parent company.

06:35

WMG Warner Music Group beats by $0.03, beats on revs (4.79 )

Reports Q1 (Dec) loss of $0.11 per share, $0.03 better than the First Call consensus of ($0.14); revenues rose 3.5% year/year to $918 mln vs the $872.3 mln consensus. Edgar Bronfman, Jr., Warner Music Group's Chairman and CEO, commented, "This performance primarily reflected strong international results, while U.S. results were tempered by continued general economic pressures and the transition from physical sales to digital sales in the recorded music industry. International revenue rose 12.1%, or 2.4% on a constant-currency basis, while domestic revenue declined 8.8%. Revenue growth in the U.K., France and Italy was partially offset by weakness in the U.S., Japan and parts of Europe. Digital revenue of $184 million grew 7.6% over the prior-year quarter, or 4.5% on a constant-currency basis. Digital revenue was unchanged sequentially from the fourth quarter of fiscal 2009, but grew 4.0% on a constant-currency basis, and represented 20.0% of total revenue for the quarter.

06:33

RBCN Rubicon Tech beats by $0.01, beats on revs; guides Q1 EPS and revs above consensus (15.00 )

Reports Q4 (Dec) loss of $0.04 per share, $0.01 better than the First Call consensus of ($0.05); revenues rose 111.1% year/year to $8.5 mln vs the $7.3 mln consensus. Co issues upside guidance for Q1, sees EPS of ~$0.03 vs. $0.01 consensus; sees Q1 revs of $10.5 mln vs. $8.70 mln consensus, driven by strong demand from the LED market. The co cited improved factory utilization, increased pricing and a shift in product mix as contributors to improved gross margin, which reached twelve percent in the quarter. "Demand from the LED market continues to strengthen, particularly the demand for LED backlighting. With LED backlighting becoming more cost competitive and with the enhanced performance, thin profile and energy efficiency they provide, we expect LED backlighting to continue to rapidly gain market share over traditional backlighting solutions. With the increasing demand from the LED market, the pricing environment is rapidly improving. Pricing increased approximately seven percent sequentially in the fourth quarter and we expect an increase of at least fifteen percent sequentially in the first quarter of 2010. While pricing is not yet back to pre-recession levels, we are seeing considerable improvement."

06:30

IOC InterOil announces purchase of second drilling rig (62.12 )

Co announces it has purchased a second drilling rig. The 1,500 horsepower heliportable "triple" rig with top drive was originally built by Parker Drilling. Total cash consideration for the rig and an extensive inventory of drilling and oil field service equipment, currently located in New Zealand, is NZD $6.5 million (approx US$4.5 mln). The new rig is capable of drilling to 16,500 vertical feet and of drilling longer horizontal sections than our current rig. The added depth capacity of this rig, in addition to the top drive system, is expected to add flexibility and efficiency to our drilling operations.

06:20

S&P futures vs fair value: +7.60. Nasdaq futures vs fair value: +10.50.

06:20

Asian Markets

Nikkei...9932.90...-18.90...-0.20%. Hang Seng...19790.28...+239.40...+1.20%.

06:20

European Markets

FTSE...5111.96...+19.60...+0.40%. DAX...5489.62...+4.80...+0.10%.

06:10

CNC Centene beats by $0.01, misses on revs; guides FY10 EPS below consensus, revs below consensus (18.08 )

Reports Q4 (Dec) earnings of $0.53 per share, $0.01 better than the First Call consensus of $0.52; revenues rose 19.6% year/year to $1.05 bln vs the $1.1 bln consensus. Quarter-end managed care at-risk membership was 1,455,600, an increase of 259,600 lives year over year. The increase in premium and service revenues was primarily driven by membership growth in all states, premium rate increases, the consolidation of Access and conversion of members to at-risk plan in Florida. The consolidated HBR, which reflects medical costs as a percent of premium revenues, was 83.9%. Co issues downside guidance for FY10, sees EPS of $1.70-1.80 vs. $1.85 consensus; sees FY10 revs of $4.35-4.45 bln vs. $4.54 bln consensus.

06:10

CVH Coventry Health Care beats by $0.18, misses on revs; guides FY10 EPS in-line, revs in-line (22.44 )

Reports Q4 (Dec) earnings of $0.74 per share, $0.18 better than the First Call consensus of $0.56; revenues rose 15.2% year/year to $3.43 bln vs the $3.49 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.10-2.25 vs. $2.23 consensus; sees FY10 revs of $10.86-11.37 bln vs. $11.21 bln consensus. Co also sees 2010 cost of sales expense of $235 to $245 mln; Selling, general, and administrative expense (SG&A) of $1.92 bln to $1.96 bln; Depreciation and amortization expense of $137 mln to $145 mln; Other income of $78 to $84 mln

06:03

ACTG Acacia Research enters into settlement agreements regarding credit card fraud protection technology with Diesel USA and Gymboree retail stores (7.93 )

04:43

ALLT Allot Comms reports EPS in-line, beats on revs (4.01 )

Reports Q4 (Dec) net of breakeven, excluding non-recurring items, in-line with the First Call consensus of ($0.00); revenues rose 20.6% year/year to $11.5 mln vs the $11.3 mln consensus.

03:43

ZBRA Zebra Tech beats by $0.07, beats on revs; guides Q1 revs above consensus (27.34 )

Reports Q4 (Dec) earnings of $0.33 per share, excludes exit, restructuring and integration costs, $0.07 better than the First Call consensus of $0.26; revenues fell 4.3% year/year to $222.5 mln vs the $206.6 mln consensus. Net sales benefited from stronger customer demand in all geographic regions and an improved product mix including higher sales of high-performance and mid-range tabletop thermal printers. The improved product mix, higher volumes and benefits from outsourcing thermal printer production, offset by higher freight costs incurred to meet increased customer demand, were the major factors affecting gross margins. Co issues guidance for Q1, sees EPS of $0.25-0.32, includes $0.02/share in exit and restructuring costs which may not be comparable to $0.26 consensus; sees Q1 revs of $217.0-230.0 mln vs. $203.74 mln consensus.

02:38

NYX NYSE Euronext beats by $0.10, reports revs in-line (22.50 )

Reports Q4 (Dec) earnings of $0.58 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.48; revenues fell 6.3% year/year to $640 mln vs the $638.3 mln consensus. Gross revenues, excluding activity assessment fees, were $1,014 mln in the fourth quarter of 2009, a 14% decrease compared to the fourth quarter of 2008 and a 3% decrease compared to the third quarter of 2009. For FY09, gross revenues of $4,299 mln decreased 4% compared to FY08. FY09 gross revenues were negatively impacted by a decline in global cash equities volumes and pricing changes across European and U.S. cash businesses.

02:32

CRXL Crucell announces FY09 results (19.19 )

Co reports total revenues and other operating income increased 26% to EUR358.0 million. Operating profit increased more than four-fold to EUR39.0 million. Net profit increased 68% to EUR23.9 million. Undiluted EPS increased 55% to EUR0.34. Year-end cash and short-term liquidities EUR428.0 million. 2010 guidance: R&D spending to increase by over one-third, while maintaining a healthy operating profit.

02:01

UBS UBS reports 4Q09 profit of CHF 1,205 mln (12.84 )

Co reports net profit attributable to UBS shareholders was CHF 1,205 mln, with all business divisions reporting a pre-tax profit in 4Q09. Improvement compared with the third quarter was due to lower costs, lower own credit charges and a tax credit. Cost reduction and efficiency programs initiated in early 2009 have led to a reduction in fixed costs to CHF 20.2 bln in 2009, broadly in line with the CHF 20 bln target set for 2010. Headcount was reduced by 16% to 65,233 during the year, broadly in line with the 2010 target of 65,000. Year-end BIS tier 1 capital ratio was 15.4% compared with 11.0% on 31 December 2008; FINMA leverage ratio was 3.9% in fourth quarter 2009 compared with 2.5% in fourth quarter 2008. The Investment Bank recorded a pre-tax profit of CHF 297 million compared with a pre-tax loss of CHF 1,370 million. 4Q09 saw a broader market slowdown, lower volumes and more limited trading opportunities which affected revenues from the equities and fixed income, currencies and commodities areas of the Investment Bank. The investment banking department saw an increase in revenues compared with the prior quarter. An own credit charge of CHF 24 million on financial liabilities designated at fair value was included in the fourth quarter result, compared with a charge of CHF 1,436 million in the third quarter. Credit loss expenses were down to CHF 70 million from CHF 243 million. Operating expenses decreased due to lower accruals for variable compensation.

01:46

AZN FDA approves new indication for AstraZeneca's CRESTOR (43.13 )

Co announces FDA has approved CRESTOR to reduce the risk of stroke, myocardial infarction and arterial revascularization procedures in individuals without clinically evident coronary heart disease but with an increased risk of cardiovascular disease based on age, high-sensitivity C-reactive protein greater than or equal to 2 mg/L, and the presence of at least one additional CVD risk factor, such as hypertension, low HDL-C, smoking, or a family history of premature coronary heart disease.

01:31

LRY Liberty Property Trust reports in-line FFO, beats on revenue (29.13 )

Reports Q4 (Dec) funds from operations of $0.67 per share, excluding non-recurring items, in-line with First Call consensus of $0.67; revenues increased 1.5% year/year to $187.58 mln vs $185.46 mln consensus.

01:19

VMC Vulcan Materials misses by $0.09, misses on revs (43.50 )

Reports Q4 (Dec) loss of $0.10 per share, excludes items, $0.09 worse than the First Call consensus of ($0.01); revenues fell 26.2% year/year to $590.1 mln vs the $644.6 mln consensus. Fourth quarter earnings for aggregates were lower vs the prior year as the impact of reduced shipments more than offset the earnings benefit from improved prices and cost control measures. Aggregates shipments declined 23% from the prior year due to weak demand and extremely wet weather in most key markets. Lower aggregates volumes reduced fourth quarter EBITDA by approx $69 mln vs the prior year. Most markets realized price improvement from the prior year. The overall price increase benefited somewhat from a product mix shift to more aggregates for highway construction. Co anticipates residential construction activity should increase year-over-year in 2010, albeit from low levels. Further weakness is expected in private nonresidential construction. As a result, aggregates volumes are expected to be flat to +5.0% from 2009 levels. For the full year 2010, co expects aggregates pricing to improve 2.0-3.0%.

01:11

On The Wires

Boeing (BA) announces the Boeing 747-8 Freighter successfully completed its first flight... Northgate Minerals (NXG) announces that its Board of Directors has given formal approval to proceed with development of the Young-Davidson mine near the town of Matachewan, Ontario; the mine has 2.8 mln ounces of proven and probable reserves. Annual production is 180,000 ounces of gold at a net cash cost of $350 per ounce over a 15-year mine-life... Cell Therapeutics (CTIC) announces that the FDA informed CTI that due to severe weather conditions in the Washington, D.C. area, the FDA is postponing the Oncologic Drugs Advisory Committee meeting that was to be held on Wednesday, February 10, 2010 to discuss the pixantrone New Drug Application. The FDA indicated that it intends to reschedule the meeting as soon as the FDA can determine a schedule that will allow them to reconvene the advisory panel... United Microelectronics (UMC) reports unaudited net sales for January 2010; net sales increased 172.77% year/year to NT$8.6 mln.

01:09

SKH Skilled Healthcare beats by $0.03, misses on revs; guides FY10 revs below consensus (6.05 )

Reports Q4 (Dec) earnings of $0.25 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.22; revenues fell 0.4% year/year to $189 mln vs the $193.1 mln consensus. Co issues downside guidance for FY10, sees FY10 revs of $775.0-785.0 mln vs. $792.04 mln consensus. EBITDAR is expected to be in the range of $127.0 million to $132.0 million and EBITDA is expected to be in the range of $108.5 million to $113.5 million.

18:44

AIN Albany Intl --Correction -- Co beats by $0.26 (18.52 +0.03)

Earlier, we incorrectly reported that AIN reported $0.27 per share, excluding charges, which was incorrect. The correct post is... Reports Q4 (Dec) earnings of $0.52 per share, $0.26 better than the First Call consensus of $0.26; revenues fell 7.2% year/year to $231.4 mln vs the $218.8 mln dual-analyst est. Co says, "The short-term outlook for sales is complicated by seasonal fluctuations, which had a significant impact on Q4 results. The 20 percent increase in ADS sales accounted for nearly half of our consolidated sales growth for the quarter. The surge appears to have been driven by normal end-of-year seasonal effects. We therefore expect ADS sales in the first half of 2010 to fall back to Q3 levels, and to grow above these levels only when European, and especially German, GNP begins to recover... Turning to the longer term outlook, with the recession seemingly behind us, and our three-year restructuring program at an end, we return to a focus on our cash and grow strategy. As we did before the recession, we view the Company as a portfolio of advanced textiles and materials businesses, which, in combination, generate the cash required to invest in growth, reinvest in the core, continue to pay down debt, and continue to deliver dividends."

18:32

FTEK Fuel Tech announces resignation of Chief Financial Officer (6.86 -0.07)

Co announced the resignation of John P. Graham as Senior Vice President, Chief Financial Officer and Treasurer effective March 5, 2010. Mr. Graham will assume the role of chief executive officer of a privately-held environmental consulting company.

18:21

AMGN Amgen: Denosumab demonstrated superiority over Zometa in pivotal Phase 3 head-to-head trial in prostate cancer patients with bone metastases (57.46 -0.22) -Update-

Co announced that a pivotal, Phase 3, head-to-head trial evaluating denosumab versus Zometa (zoledronic acid) in the treatment of bone metastases in 1,901 men with advanced prostate cancer met its primary and secondary endpoints. Denosumab demonstrated superiority over Zometa for both delaying the time to the first on-study skeletal related event (SRE) (fracture, radiation to bone, surgery to bone or spinal cord compression) (hazard ratio 0.82, 95 percent CI: 0.71, 0.95), and reducing the rate of multiple SREs (hazard ratio 0.82, 95 percent CI: 0.71, 0.94). Both results were statistically significant.

18:19

OTTR Otter Tail Power misses by $0.11, misses on revs; guides FY10 EPS in-line (20.56 -0.13)

Reports Q4 (Dec) earnings of $0.23 per share, $0.11 worse than the First Call consensus of $0.34; revenues fell 22.8% year/year to $258 mln vs the $343.3 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.00-1.40 vs. $1.34 consensus.

18:02

HLX Helix ESG announces joint venture with Clough Limited for subsea services in the Asia Pacific region (10.14 -0.40)

Co announces the formation of a joint venture with Australian based engineering and construction company Clough Limited, to provide a range of subsea services to offshore operators in the Asia Pacific region. Services provided by the JV, Clough Helix Pty Ltd, will include subsea well intervention and well abandonment, SURF (subsea infrastructure, umbilical, riser and flowline installation), saturation and air diving and subsea inspection, repair and maintenance services.

18:01

WRB W.R. Berkley beats by $0.04, beats on revs (24.23 +0.50)

Reports Q4 (Dec) earnings of $0.71 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.67; revenues rose 9.0% year/year to $1.18 bln vs the $1.15 bln consensus.

17:56

PPS Post Properties beats by $0.03, beats on revs; guides FY10 FFO in-line (17.76 -0.54)

Reports Q4 (Dec) funds from operations of $0.17 per share, $0.03 better than the First Call consensus of $0.14; revenues fell 1.7% year/year to $68.6 mln vs the $66.9 mln consensus. Co issues in-line guidance for FY10, sees FFO of $0.98-1.12, excluding non-recurring items, vs. $1.06 consensus.

17:46

GAIN Gladstone Investments misses by $0.01 (4.92 )

Reports Q4 (Dec) earnings of $0.14 per share, $0.01 worse than the First Call consensus of $0.15. The decrease in Net Investment Income was primarily driven by a reduction of the Company's investment portfolio as a result of the sale of the majority of its senior syndicated loans (primarily to pay off its prior line of credit) during the nine months ended December 31, 2009, partially offset by decreased interest expense on lower outstanding borrowings when compared to the prior year periods.

17:30

CPT Camden Property beats by $0.08, reports revs in-line; guides Q1 FFO in-line; guides FY10 FFO below consensus (37.82 -0.47)

Reports Q4 (Dec) funds from operations of $0.71 per share, $0.08 better than the First Call consensus of $0.63; revenues fell 4.7% year/year to $131.4 mln vs the $132.2 mln consensus. Co issues in-line guidance for Q1, sees FFO of $0.64-0.68 vs. $0.68 consensus. Co issues downside guidance for FY10, sees FFO of $2.35-2.65 vs. $2.66 consensus.

17:18

SONS Sonus Networks announces that Guru Pai has been appointed Executive Vice President and COO, effective immediately (1.92 -0.05)

Co also announces Wayne Pastore, who has served as Vice President, Finance, Corporate Controller and Chief Accounting Officer, has been appointed to the additional role of Interim Chief Financial Officer, effective immediately. Pastore replaces Richard Gaynor who has resigned to pursue other business opportunities.

17:16

BWY BWAY Holding beats by $0.02, misses on revs; guides Q2 EPS below consensus; guides FY10 EPS below consensus (17.06 -0.94)

Reports Q1 (Dec) earnings of $0.13 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.11; revenues rose 3.1% year/year to $219 mln vs the $241 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.29-0.34, excluding non-recurring items, vs. $0.37 consensus. Co reaffirms downside guidance for FY10, sees EPS of $1.42-1.60, excluding non-recurring items, vs. $1.62 consensus.

17:14

UAUA UAL Corp. reports January 2010 operational performance (13.07 +0.29)

The co reports its preliminary consolidated traffic results for January 2010. Total consolidated revenue passenger miles (RPMs) increased in January by 2.4% on a decrease of 2.0% in available seat miles (ASMs) compared with the same period in 2009. This resulted in a reported January 2010 consolidated passenger load factor of 78.5%, an increase of 3.4 points compared to 2009. For January 2010, United reported a U.S. Department of Transportation on-time arrival rate of 83.6%.

17:13

OMI Owens & Minor announces three-for-two stock split and 15% increase in quarterly dividend (42.89 -0.31) -Update-

17:09

BJS BJ Services misses by $0.07, beats on revs (20.33 )

Reports Q1 (Dec) loss of $0.03 per share, $0.07 worse than the First Call consensus of $0.04; revenues fell 34.3% year/year to $931.5 mln vs the $898.3 mln consensus. "We experienced increased service activity and a generally stable to slightly improved pressure pumping pricing environment in the U.S. and Canada markets during the quarter, as capacity utilization improved. Our international pressure pumping business remains strong, and we anticipate that a number of sizable completion tool sales during our fiscal second quarter will lead to improved results from our oilfield services group. We continue to focus on our customers and meeting their needs, as we draw closer to the completion of the merger with Baker Hughes, expected to occur in March."

17:07

FMC FMC Corp President and CEO purchases $1 mln of FMC common stock (53.35 +0.24)

Co reports that Pierre Brondeau, FMC president and chief executive officer, recently purchased $1 million of FMC common stock in open market transactions.

17:03

DBLE Double Eagle Petro extends maturity date on credit facility and reaffirms credit line (4.24 +0.00)

Co announced that it has signed an amended credit agreement with its lenders to extend the maturity date on its credit facility from July 31, 2010 to January 31, 2013. The new agreement reaffirms its current committed credit line of $45 mln, of which the co currently has $31 mln outstanding. The co's borrowing base, determined from the co's current oil and gas reserves and using the existing bank pricing deck, is above $65 mln. The rates and covenants under the amended credit agreement are consistent with the prior credit agreement. The lending group is comprised of Bank of Oklahoma and Key Bank, with Bank of Oklahoma serving as the lead.

17:01

IHO Invitel Holdings A/S announces SEC filing to delist from the NYSE AMEX; expects the filing to be effective on or about February 18 (4.47 +0.014)

17:00

TWTC Time Warner Tcom beats by $0.05, reports revs in-line (15.52 +0.47)

Reports Q4 (Dec) earnings of $0.07 per share, including $0.03 for adoption of accounting for convertible debt, $0.02 better than the First Call consensus of $0.05; revenues rose 4.5% year/year to $307.9 mln vs the $308.3 mln consensus.

16:58

OMI Owens & Minor beats by $0.05, misses on revs; guides FY10 EPS in-line, revs in-line (42.89 -0.31)

Reports Q4 (Dec) earnings of $0.76 per share, $0.05 better than the First Call consensus of $0.71; revenues rose 4.2% year/year to $2.04 bln vs the $2.08 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.90-3.05 vs. $2.94 consensus; sees FY10 revs of ~$8.36 bln - $8.52 bln (growth of 4-6%) vs. $8.5 bln consensus.

16:49

SNS Steak n Shake issues press release in response to Indianapolis Business Journal article (326.65 +1.73)

SNS reports that this week's Indianapolis Business Journal ("IBJ") lead article printed as its headline "Steak n Shake moving HQ." "The headline, along with much information in the article, is misleading. We normally do not comment on published articles, and though we therefore won't address the multitude of errors in this piece, we do wish to set one salient fact straight: Steak n Shake Operations, the restaurant chain of 485 units, will maintain its principal headquarters in Indianapolis. Moreover, Steak n Shake's parent company -- currently named The Steak n Shake Company with plans to change it to Biglari Holdings -- is headquartered in San Antonio, a move which occurred some months ago. (The holding company is the owner of its subsidiary, where operations are primarily conducted.) The majority of Steak n Shake's employees will remain in Indianapolis even though the operating company will also have a presence in San Antonio. The errors in the IBJ article advance the notion that a change in the parent company's name is necessary; any time the parent company takes corporate action (e.g., announcing an acquisition), many erroneously would conclude, as the IBJ reporter did, that the restaurant chain is behind the action. The obvious reason for the alteration in the parent company's name is to avoid confusion between the parent's business activities and those of its subsidiaries."

16:34

LNCR Lincare beats by $0.06, reports revs in-line (38.18 +0.45)

Reports Q4 (Dec) earnings of $0.61 per share, $0.06 better than the First Call consensus of $0.55; revenues fell 2.2% year/year to $405.8 mln vs the $404.3 mln consensus. The co estimates that the 2% decrease in net revenues in 4Q09 was comprised of 13% internal and acquisition growth offset by a 15% negative impact from Medicare reimbursement reductions that took effect in 2009. The co's financial results for Q4 and year ended Dec 31, 2009 were impacted by dramatic reductions in Medicare reimbursement for the co's primary product lines resulting from the implementation on Jan 1, 2009 of previously enacted legislation. The legislation included reductions in Medicare payment amounts of 9.5% for certain items of durable medical equipment, including oxygen, additional regulated Medicare price reductions for stationary oxygen equipment of another 2.3% (for a total reduction of 11.8%) and the implementation of a new reimbursement methodology for oxygen equipment from continuous monthly payment for as long as the equipment is in use by a Medicare beneficiary to a capped rental arrangement whereby payment for oxygen equipment may not extend beyond a period of continuous use of 36 months. In addition, the 2009 results reflect lower reimbursement for certain respiratory medications covered by Medicare. The co estimates that these changes reduced net revenues in Q4 and year ended Dec 31, 2009 by approximately $61.2 mln and $274.7 mln, respectively. The co's revenues and earnings are expected to be impacted in FY10 by a further reduction in Medicare reimbursement for stationary oxygen equipment; the co estimates that net revenues and operating income in 2010 will be negatively impacted by approximately $9.0 mln.

16:32

HIG Hartford Financial beats by $0.11; guides FY10 EPS in-line (23.46 -0.07)

Reports Q4 (Dec) earnings of $1.51 per share, $0.11 better than the First Call consensus of $1.40. Co issues in-line guidance for FY10, sees EPS of $3.70-4.00, excluding non-recurring items, vs. $3.96 consensus. Book Value per Common Share $38.92 compared to $37.90 in Q3; Continued to gain traction with new business written premium growth of 21% in small commercial and 7% in middle market over the prior year period. Written premiums for The Hartford's property and casualty operations in the fourth quarter were $2.4 billion, compared with $2.5 billion in the fourth quarter of 2008. The decline in premium was due to macroeconomic-driven exposure reductions and soft pricing in commercial lines. Combined ratio was 85.1% in Q4 compared to 93% in Q3. Continued to reduce risk in the investment portfolio with more than $1 billion of real estate-related securities sold; Net pre-tax unrealized loss ended the year at $5.0 billion, down from $13.2 billion at December 31, 2008 and $5.8 bln at the end of Q3. Impairments were $434 million, pre-tax, in the fourth quarter of 2009. The majority of the impairments were the result of collateral deterioration on real estate-related assets, primarily CMBS, CRE CDOs and RMBS.

16:32

IWA Iowa Telecom entered into a tentative settlement of the pending shareholder litigation (16.05 +0.03)

Co announced that Iowa Telecom and Windstream (WIN) have entered into a tentative settlement of the pending shareholder litigation concerning the acquisition by Windstream pursuant to the merger agreement signed on November 23, 2009. Co has determined that, in order to eliminate the uncertainty, distraction, burden and expense of future litigation and to permit the merger to proceed without possible delays from litigation, it is in the best interests of Iowa Telecom and its shareholders to enter into a settlement of the pending lawsuits. Iowa Telecom, its directors and Windstream have entered into a memorandum of understanding with counsel for the plaintiffs in the various shareholder lawsuits that provides for a settlement of all of these lawsuits. Pursuant to the proposed settlement, Iowa Telecom and Windstream have agreed to make certain revisions to the disclosure in the proxy statement to be mailed to Iowa Telecom's shareholders in connection with the approval of the merger, which revisions were proposed by counsel for the plaintiffs. No changes in the merger agreement or the terms of the merger will be made, and no payments will be made to shareholders in addition to those provided for in the merger agreement. As previously announced, Iowa Telecom and Windstream expect the closing to occur mid-2010.

16:31

BEN Franklin Resources reported preliminary month-end assets under management of $548.0 billion (96.30 -1.70)

Co reported preliminary month-end assets under management by the company's subsidiaries of $548.0 bln at January 31, 2010, compared to $553.5 bln at December 31, 2009 and $401.7 bln as of Jan 31, 2009.

16:31

GWR Genesee & Wyoming reports traffic volumes for January 2010 (29.10 -0.22) -Update-

Co announces traffic volumes for January 2010. GWI's traffic in January 2010 was 63,862 carloads, a decrease of 6,923 carloads, or 9.8%, compared with January 2009. Coal, coke & ores traffic decreased 3,556 carloads primarily due to lower shipments in GWI's Rocky Mountain and Illinois Regions. Farm & food products traffic decreased 1,780 carloads primarily due to fewer shipments in GWI's Australia Region resulting from temporary shipment delays for the 2009-2010 South Australian grain harvest. Pulp & paper traffic decreased 1,707 carloads primarily due to lower shipments in GWI's Canada and Southern Regions. All other traffic increased by a net 120 carloads.

16:28

WSTL Westell Tech approves new share repurchase program of up to an aggregate of $10 mln of its Class A Common Stock (1.31 +0.08)

16:27

TRGL Toreador Royalty is commencing a public offering of shares of its common stock (10.16 +0.09)

16:26

MEG Media General priced its previously announced private offering of senior secured notes due 2017 (8.22 +0.12) -Update-

Co priced its previously announced private offering of senior secured notes due 2017. The face value of the Notes is $300 million with an interest rate of 11 3/4 %. The Notes were priced at 97.690% of face value, resulting in a yield to maturity of 12 1/4 %.

16:22

AXS AXIS Capital beats by $0.52 (28.69 +0.13)

Reports Q4 (Dec) earnings of $1.83 per share, $0.52 better than the First Call consensus of $1.31. Gross premiums written increased 9% in the quarter to $574 million and increased 6% to $3.6 billion for the year; Net premiums earned increased 8% in the quarter to $714 million and increased 4% to $2.8 billion for the year; Total underwriting income for the quarter of $216 million, unchanged from the prior year quarter. Combined ratio of 77.5% for the quarter and 79.3% for the full year; Net favorable prior year reserve development in the quarter of $120 million, benefiting the combined ratio by 16.8 points; Net investment income in the quarter of $118 million compared to net investment losses of $26 million in the prior year quarter. Net investment income for the year increased 88% to $464 million; The total return on cash and investments portfolio was 1.1% for the quarter and 8.5% for the full year. Due to the recovery in the global financial markets, the asset valuations in investment portfolio improved significantly in 2009. At December 31, 2009, the total net unrealized gains on the available for sale investment portfolio were $99 million, an improvement of $504 million after considering the impact of realized losses recognized in earnings. The improvement in asset valuations was primarily due to unprecedented credit spread tightening on corporate debt and structured credit securities, as well as the strong performance of hedge and credit funds allocation.

16:21

SWI SolarWinds beats by $0.03, misses on revs; guides Q1 EPS in-line, revs above consensus; guides FY10 EPS and revs above consensus (20.04 -0.25)

Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.16; revenues rose 32.5% year/year to $33 mln vs the $33.6 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.15-0.16, excluding non-recurring items, vs. $0.15 consensus; sees Q1 revs of $33.7-34.7 mln vs. $33.52 mln consensus. Co issues upside guidance for FY10, sees EPS of $0.72-0.75, excluding non-recurring items, vs. $0.71 consensus; sees FY10 revs of $159-164 mln vs. $117.12 mln consensus. License revenue was $17.6 million in the fourth quarter of 2009, representing a 26% increase over license revenue in the fourth quarter of 2008. Maintenance revenue was $15.4 million in the fourth quarter of 2009, representing a 40% increase over maintenance revenue in the fourth quarter of 2008. Non-GAAP operating income was $17.5 million in the fourth quarter of 2009, or 53% of revenue, compared to $13.3 million and 53% of revenue in the fourth quarter of 2008. "The fourth quarter of 2009 was a strong quarter for SolarWinds, primarily due to a significant increase in interest and purchasing activity from commercial market customers, globally."

16:21

CIM Chimera Investment misses by $0.02 (3.96 -0.17)

Reports Q4 (Dec) "core" earnings of $0.12 per share, $0.02 worse than the First Call consensus of $0.14. "The fourth quarter demonstrates the evolving nature of our markets and our operations. Operationally, our purchases of significant amounts of deeply discounted securities and the retention of the subordinate securities of our re-securitizations means that a portion of our taxable income will come from the accretion of those discounts. As such, we anticipate that taxable income, which determines the amount of dividends we must pay, will be higher than Core Earnings. In our markets, demand for securities has improved from the depths of the financial crisis as investors take into account realistic performance expectations, new capital comes into the market and the securitization market continues to recover. While new non-government-backed mortgage originations remain well below prior levels, as we look ahead to the new year, we continue to see opportunities in the securities market and we look forward to the new opportunities that will arise when the primary mortgage securitization model becomes operational."

16:19

LCI Lannett misses by $0.04 (4.95 -0.11)

Reports Q4 (Dec) earnings of $0.00 per share, $0.04 worse than the First Call dual-analyst est of $0.04; revenues fell 1.7% year/year to $28.7 mln vs the $29.4 mln dual-analyst est.

16:18

TRID Trident Microsystems reports Q2 results (1.81 +0.11)

Trident Microsystems reports Q2 earnings of ($0.22), which includes the impact of a $2.8 mln write-off of pre-production inventory, vs ($0.18) First Call consensus; revs increased 66% year/year to $31.9 mln vs $32.75 mln First Call consensus. As previously announced, Trident has changed its fiscal year end to December 31. For its new fiscal first quarter ending Mar. 31, 2010, which will include approximately eight weeks of operating results for the newly acquired product lines, Trident is providing the following outlook. Co sees Q1 revs of $85 mln to $90 mln, which may not be comparable to the $33.4 mln First Call consensus. Co also issues Q2 revenue guidance of $140 mln to $160 mln, which may not be comparable to $35 mln First Call consensus.

16:18

SNPS Synopsys to acquire CoWare; terms of the deal are not being disclosed (20.95 -0.22)

Co announced it has signed a definitive agreement to acquire CoWare, a global supplier of software and services for electronic systems design. When completed, the acquisition will expand Synopsys' portfolio of system-level design and verification products used in wireless, consumer and automotive design. The transaction is subject to customary closing conditions, including HSR (Hart-Scott-Rodino) review, and is expected to close within Synopsys' second quarter of fiscal year 2010. The terms of the deal are not being disclosed.

16:17

CRL Charles River beats by $0.05, beats on revs (35.69 +0.04)

Reports Q4 (Dec) earnings of $0.49 per share, $0.05 better than the First Call consensus of $0.44; revenues fell 5.1% year/year to $295.4 mln vs the $291.2 mln consensus. "Our better-than-expected fourth-quarter performance improves our level of confidence that the market has stabilized, and based on strong preclinical bookings for the first quarter of 2010 and early positive indicators for the second quarter, we believe we are starting to see our clients reinvigorate their late discovery and early development efforts. Therefore, we anticipate improvement in demand for our broad portfolio of essential products and services in 2010, and as the year progresses, sales and earnings growth."

16:17

ANDE Andersons beats by $0.44, beats on revs (28.92 +1.40)

Reports Q4 (Dec) earnings of $0.88 per share, $0.44 better than the First Call consensus of $0.44. "Clearly, our full year earnings were heavily influenced by the results within our agricultural business units," CEO Mike Anderson stated. "The record full year earnings in our grain business, reflects our solid position in this industry. The significant turn around in ethanol margins enabled our ethanol business to report its best ever quarterly results. Our Turf & Specialty Group had a record year. Our Plant Nutrient Group returned to profitability, following the extraordinary loss incurred in 2008," Mr. Anderson added. "Our 2009 Rail and Retail Group results, however, were negatively impacted by the weak economy. Economic conditions such as these confirm that our strategy of purposeful diversification allows us to remain a strong company, even when external factors are significantly impacting one or more of our groups."

16:17

DVAX Dynavax Technologies announced initiation of a large-scale Phase 3 trial for HEPLISAV (1.44 -0.04)

Co announced initiation of a large-scale Phase 3 trial designed to demonstrate the lot-to-lot consistency of commercial vaccine and to complete the safety database for HEPLISAV, the Company's investigational adult hepatitis B vaccine. This study and the ongoing Phase 3 trial in chronic kidney disease patients are directed toward fulfilling licensure requirements in the U.S., Canada and Europe. HEPLISAV has been shown in two pivotal Phase 3 trials to enhance protection more rapidly and with fewer doses than a currently licensed vaccine.

16:15</p>

LNC Lincoln National beats by $0.07, misses on revs (23.50 -0.22)

Reports Q4 (Dec) earnings of $0.90 per share, $0.07 better than the First Call consensus of $0.83; revenues rose 11.6% year/year to $2.4 bln vs the $2.54 bln consensus. As of December 31, 2009, the book value per share of common stock, including accumulated other comprehensive income (AOCI), was $36.02 compared to $31.15 a year ago. Book value per share, excluding AOCI, was $36.89, compared to $42.09 a year ago. Total gross realized losses in the 2009 quarter on general account investments were $212 million, pre DAC and tax, primarily related to select financial-sector bonds, commercial real estate equity, and residential mortgage backed securities. The variable annuity hedge program had no material net impact on net income in the fourth quarter, with positive hedge performance offset by reserve and model adjustments. Gross annuity deposits were $2.5 billion and net flows were $818 million, both up versus the prior year. Gross deposits and net flows declined from the third quarter of 2009, driven by fixed and indexed annuities, reflecting the low interest rate environment. Consolidated deposits of $4.9 billion were up 3% versus the 2008 quarter. -- Consolidated net flows were up 12% year-over-year to $1.5 billion. Ending account balances increased 20% to $141 billion since last year, driven by another quarter of double-digit growth in net flows and equity market appreciation.

16:14

NLY Annaly Mortgage announces public offering of convertible senior notes (17.88 -0.12) -Update-

The co announces that it intends to make a public offering of $500.0 million in aggregate principal amount of its convertible senior notes due 2015. Annaly intends to grant the underwriter of the notes a thirty-day option to purchase up to an additional $75.0 million aggregate principal amount of the notes solely to cover over-allotments. Annaly expects to use the proceeds of this offering to purchase mortgage-backed securities for its investment portfolio and general corporate purposes.

16:13

HIMX Himax Tech beats by $0.01, beats on revs; guides Q1 EPS in-line (2.94 +0.18)

Reports Q4 (Dec) GAAP earnings per ADS of $0.06 per share, incl acquisition-related charges, $0.01 better than the First Call consensus of $0.05; revenues rose 43.8% year/year to $178.7 mln vs the $172.7 mln consensus. Co issues in-line guidance for Q1, sees GAAP earnings per ADS of $0.04-0.06 vs. $0.04 consensus. Moving to its Q1 2010 guidance, co is seeing rather healthy demand in a traditionally low season. Compared to the previous quarter, co expects revenues to remain flat or go up slightly with a slight gross margin decline of less than one percentage point.

16:12

RENT Rentrak misses by $0.03, misses on revs (17.37 +1.61)

Reports Q3 (Dec) earnings of $0.07 per share, ex-items, $0.03 worse than the First Call consensus of $0.10; revenues rose 0.9% year/year to $23.1 mln vs the $23.9 mln consensus. Gross margin was $6.6 mln for the 3Q10, compared with $7.2 mln for the same period last year. The reduction in gross margin principally resulted from increased costs associated with the company's AMI division, specifically $0.9 mln in one-time expense related to data integration services.

16:12

FWRD Forward Air beats by $0.03, beats on revs; guides Q1 EPS in-line, revs in-line (21.97 -0.50)

Reports Q4 (Dec) earnings of $0.22 per share, $0.03 better than the First Call consensus of $0.19; operating revenues fell 4.4% year/year to $118 mln vs the $110.6 mln consensus. "Assuming no changes in the current economic environment, we anticipate first quarter 2010 revenues to increase in the range of 6 to 10% over the prior year first quarter, and expect income per diluted share to be between $0.08 and $0.12 per share." This eqautes to in-line guidance for Q1, sees EPS of $0.08-0.12 vs. $0.09 consensus; sees Q1 revs of $99-102 mln vs. $100.66 mln consensus.

16:11

CRK Comstock misses by $0.08, beats on revs (37.32 +0.24)

Reports Q4 (Dec) loss of $0.15 per share, $0.08 worse than the First Call consensus of ($0.07); revenues fell 10.0% year/year to $90.2 mln vs the $87.5 mln consensus. The loss in the fourth quarter of 2009 is primarily attributable to the low natural gas prices in 2009.

16:10

ERTS Electronic Arts beats by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs below consensus; guides Q1 (Jun) EPS below consensus, revs below consensus; guides FY11 EPS below consensus (17.49 +0.23)

Reports Q3 (Dec) earnings of $0.33 per share, $0.02 better than the First Call consensus of $0.31; revenues fell 22.7% year/year to $1.35 bln vs the $1.34 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.02-0.06 vs. $0.13 consensus; sees Q4 revs of $800-850 mln vs. $850.97 mln consensus. Co issues downside guidance for Q1 (Jun), sees EPS of -$0.35-0.40 vs. ($0.04) consensus; sees Q1 (Jun) non-GAAP revs of $460-500 mln vs. $761.73 mln consensus. Co issues downside guidance for FY11, sees EPS of $0.50-0.70 vs. $0.74 consensus; sees FY11 revs of $3.65-3.90 bln vs. $4.07 bln consensus.

16:09

PQ PetroQuest Energy ended 2009 with approximately 179 Bcfe of proved oil and gas reserves (5.36 -0.03)

Co announced that it ended 2009 with approximately 179 Bcfe of proved oil and gas reserves. The Company's year-end reserves were net of approximately 3 Bcfe of proved reserves sold during 2009. Approximately 88% of the proved reserves at December 31, 2009 were natural gas, approximately 77% were located in long-lived basins and approximately 62% of the reserves were proved developed. As a result of the new SEC reserve pricing methodology, which averaged $3.87 per Mcf and $61.18 per barrel; along with the expiration of several high value cash flow hedges, the Company expects to record a non-cash ceiling test writedown of approximately $50 - $55 million during the fourth quarter of 2009.

16:08

UFPI Universal Forest reports Q4 loss per share of ($0.03) vs. ($0.03) First Call consensus; revenue decreased 20% y/y to $338.6 mln vs. $324.80 mln consensus (16.77 -0.16)

16:07

NUAN Nuance Communications beats by $0.02, beats on revs (14.91 +0.23)

Reports Q1 (Dec) earnings of $0.29 per share, $0.02 better than the First Call consensus of $0.27. "Nuance achieved increased revenue growth in the quarter, enabled by stronger performance across all of its business lines. In the quarter, operating margins improved year over year, even as we increased investments in R&D, advertising and sales personnel" said Paul Ricci, chairman and CEO of Nuance. "Our first quarter performance, on-going investments in sales, channels and products, and our leadership position in key markets position Nuance for sustained growth for the balance of fiscal 2010."

16:07

VSAT ViaSat reports EPS in-line, misses on revs (26.25 -0.17)

Reports Q3 (Dec) earnings of $0.39 per share, excluding non-recurring items, in-line with the First Call consensus of $0.39; revenues rose 4.0% year/year to $156.4 mln vs the $168.8 mln consensus. Co said, at the end of the co's fiscal Q3 2010, WildBlue subscriber metrics included: Approximately 423,000 total subscribers, comprised of 230,000 wholesale subscribers and 193,000 retail subscribers, Average revenue per subscriber of ~$41, which is a blended rate, and subscriber churn was ~2.1% per month.

16:06

GTEC Global Defense Technology & Systems entered into a $50 million revolving credit facility (13.07 -0.59)

Co entered into a $50 million revolving credit facility on February 3, 2010 with SunTrust Bank. The facility matures on January 31, 2013 and provides GTEC with flexibility to fund organic growth and complete strategic acquisitions in line with its growth strategy. The facility replaces GTEC's previous $29 million revolving credit facility with SunTrust Bank.

16:06

PFG Principal Fincl misses by $0.03, misses on revs (22.19 -0.27)

Reports Q4 (Dec) earnings of $0.62 per share, $0.03 worse than the First Call consensus of $0.65; revenues fell 6.3% year/year to $2.37 bln vs the $2.51 bln consensus. Book value including accumulated other comprehensive income per share more than tripled from a year ago to $23.05 as of December 31, 2009, reflecting a $6.3 billion decrease in net unrealized losses. Strong capital and liquidity, with an estimated risk based capital ratio of 415 to 425 percent at year-end; approximately $1.5 billion of excess capital and approximately $6.4 billion of liquid assets.

16:06

NE Noble Corp approved the regular payment of a return of capital (38.94 -0.79)

Co approved the regular payment of a return of capital through a reduction of the par value of the Company's shares in an amount equal to Swiss francs 0.52 CHF per share in four equal installments scheduled for August 2010, November 2010, February 2011 and May 2011. The payments will be made in U.S. dollars based on the CHF/USD exchange rate available approximately two business days prior to the payment date. Although the amount of the return of capital, expressed in Swiss francs, is fixed, the amount of the payment in U.S. dollars will fluctuate based on the exchange rate. The exchange rate as published by the Swiss National Bank on February 5, 2010 was 1.0742 CHF/1.0 USD.

16:05

EVEP EV Energy commenced public offering of 3.0 million of its common units representing limited partner interests (29.54 +0.48)

16:04

ADCT ADC Telecom beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs in-line (5.38 -0.12)

Reports Q1 (Dec) earnings of $0.02 per share, $0.02 better than the First Call consensus of ($0.00); revenues fell 11.4% year/year to $265.6 mln vs the $267.7 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.04-0.06, includes non-cash amortization expense of $0.05 per share and excludes potential non-cash charges or restructuring charges that the company cannot estimate at this time, vs. $0.05 consensus; sees Q2 revs of $260-280 mln vs. $275.52 mln consensus. "As we continue to realize the benefits of our improved operations, we expect to drive additional earnings power by maintaining our commitment to creating a more effective and efficient organization," added Switz. "We also are making strategic gains in the marketplace with our focus on the areas of greatest opportunity in fiber and wireless networks worldwide, exhibited in part by the strength of our business in China and a significant sequential increase in wireless sales in the first quarter."

16:04

SYMX Synthesis Energy Systems received the required Shandong Provincial Government approval for the Phase II expansion of the Company's Hai Hua plant (0.95 +0.02)

Co announced that it has received the required Shandong Provincial Government approval for the Phase II expansion of the Company's Hai Hua plant located in Zaozhuang City, Shandong Province, China. This approval will allow SES to expand its current facilities to include production of approximately 50K tpa of monoethylene glycol ("Glycol") and associated by-products. The approval describes certain details of the expansion project including but not limited to its use of land, the main additional facilities required and the utilization of the existing facilities and syngas product for the expansion.

16:03

ARTC ArthroCare announced that the Costa Rican government has granted an extension of the Company's current tax holiday (26.04 +0.46)

Co announced that the Costa Rican government has granted an extension of the Company's current tax holiday. Under the holiday extension, the Company's business profits will not be subject to Costa Rican income tax until January 1, 2016, after which time such profits will be subject to general corporate tax rules then in effect. There have been no other changes to the Company's current tax holiday arrangement with the Costa Rican government. As a condition of the extension, the Company is required to meet certain investment and employment targets by December 2010. The Company believes it will meet all of the requirements in the normal course of its existing business plans.

16:03

SRX SRA Intl beats by $0.05, beats on revs; guides FY10 EPS in-line, revs in-line (16.77 -0.16)

Reports Q2 (Dec) earnings of $0.33 per share, $0.05 better than the First Call consensus of $0.28; revenues rose 11.8% year/year to $413 mln vs the $396.6 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.22-$1.29 vs. $1.22 consensus; sees FY10 revs of $1.63-$1.665 bln vs. $1.64 bln consensus. SRX won new business in the second quarter with potential value of $412 mln, if all option years are exercised, representing a book to bill ratio of 1.0.

16:03

QGEN Qiagen beats by $0.02, beats on revs; guides FY10 EPS in-line, revs in-line (20.76 -0.05)

Reports Q4 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.22; revenues rose 21.9% year/year to $289.1 mln vs the $267.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.92-0.98, excluding non-recurring items, vs. $0.98 consensus; sees FY10 revs of $1.12-1.17 bln vs. $1.16 bln consensus.

16:03

PZN Pzena reports assets under management of $13.7 bln vs $14.3 bln last month and $9.6 bln a year ago (6.49 -0.21)

16:02

VECO Veeco Instruments beats by $0.07, beats on revs; guides Q1 EPS above consensus, revs above consensus (31.05 +0.63)

Reports Q4 (Dec) earnings of $0.41 per share, $0.07 better than the First Call consensus of $0.34; revenues rose 32.7% year/year to $146.4 mln vs the $129.8 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.41-$0.50 vs. $0.37 consensus; sees Q1 revs of $150-165 mln vs. $142.23 mln consensus. "With record backlog of $402 million at the end of December, Veeco begins 2010 with unprecedented momentum. Business patterns in LED remain very strong in the first quarter, similar to what we experienced in the latter half of 2009, with multi-tool system orders being quoted to a large number of customers. Leading global LED manufacturers are showing strong interest in our newly introduced TurboDisc K465i(TM) GaN MOCVD System, which we believe is the best product on the market today. We are increasing manufacturing capacity to satisfy customer demand, with a current plan to ramp capacity to 45 or more tools this quarter and approximately 70 by the second quarter. We believe our Data Storage business, with its dramatically lowered breakeven structure and backlog of $60 million ending 2009, is in excellent position starting 2010. We remain well-aligned with our key customers and plan to introduce new technologies to continue to advance areal densities for thin film magnetic heads. In Metrology, our new product pipeline is the best it's been in years, and the business returned to profitability in both Q3 and Q4 2009. We currently expect all three Veeco businesses to grow revenues and profits in 2010."

16:02

DDR Developers Diversified Rlty announces public offering of 36 mln common shares (8.33 -0.18)

16:01

IVZ Invesco reports assets under management of $412.6 bln vs $423.1 bln last month and $414.2 bln a year ago (18.35 -0.23)

16:01

CIT CIT Group to prepay $750 mln of debt (30.61 -0.14) -Update-

Co announced that its Board of Directors has authorized the voluntary prepayment of $750 mln on its $7.5 bln first lien credit facility. The company will prepay this high cost debt out of its available holding company cash position, which is in excess of $5 bln. The repayment will be made on February 9, 2010 on a pro rata basis among outstanding tranches and will be subject to the applicable 2% payment premium.

16:01

ATML Atmel beats by $0.04, beats on revs (4.80 -0.01)

Reports Q4 (Dec) earnings of $0.04 per share, $0.04 better than the First Call consensus of ($0.00); revenues rose 2.7% year/year to $343.6 mln vs the $338 mln consensus. "We are pleased to have delivered revenue growth and gross profit expansion that exceeded the upper end of our guidance range this quarter, as demand strengthened and factory utilizations improved," said Steve Laub, Atmel's President and Chief Executive Officer. "Microcontroller sales of 8- and 32-bit products, as well as our capacitive touch solutions, grew strongly as we continued to outperform the market. Based on our solid design win momentum and booking activity we are excited about the outlook for 2010, particularly for our microcontroller and touch products."

16:01

QGEN Qiagen acquires exclusive licence for Key PI3K gene (20.66 -0.15)

Co announces it has acquired the global and exclusive licence for biomarker PI3K from Johns Hopkins University to develop real-time-PCR and endpoint PCR assays. Research has shown that variation in the PI3K gene could be a key biomarker for use as a companion diagnostic with certain cancer treatments. The studies suggest that mutations in the PI3K oncogene are predictive for the success of certain treatments of patients suffering from lung, breast, colorectal and other cancers. QIAGEN has an active PI3K assay development and partnering program with pharmaceutical companies to develop and market tests for new cancer drug candidates. Financial details were not disclosed.

16:00

TSS Total System chosen by Cedacri to provide card and payments services (14.40 -0.16) -Update-

16:00

HMN Horace Mann beats by $0.04; guides FY09 EPS above consensus (11.86 +0.41)

Reports Q4 (Dec) earnings of $0.47 per share, excluding items, $0.04 better than the First Call consensus of $0.43. Co issues upside guidance for FY09, sees EPS of $1.65-1.85 vs. $1.35 consensus. "This projection anticipates: for property and casualty, a moderation in recent auto frequency trends and a continuing high level of property sinkhole losses in Florida; for annuity, continued strong increases in fixed annuity spreads and an 8 to 10 percent increase in the S&P 500 Index; and for life, continued growth in investment income and more normal mortality levels."

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