Briefing.com: Hourly In Play (R) – 12:00 ET
Jan 27, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 27-Jan-10 12:00 ET
12:00
SPY NYSE & NASDAQ trading volume tracking higher than yesterday's tally thus far-- See hourly volume charts -Technical-
Through two full hours of trading today, both primary exchanges are posting trading volume above yesterday's pace thus far. With mixed markets at this time, a clear volume/price pattern & relationship is not evidently clear following more 'bearish distribution' yesterday on NYSE. We expect volume to actually tail off a bit here in late morning/early afternoon as we settle in ahead of the 2:15ET FOMC policy directive & interest rate stance/announcement. However, we expect volume & intraday volatility to expand immediately following the announcement.
As of 11:30ET, 407M shares have traded on NYSE vs. yesterday's 379M while over on NASDAQ, 891M shares have changed hands vs. 879M @ this juncture yesterday.
NYSE 60 min volume chart
NASDAQ 60 min volume chart
11:50
V Visa climbs higher intraday towards yesterday's reaction high of 82.54 (82.46 +1.31) -Update- -Technical-
11:34
SPY S&P 500 minor lift off support -Update- -Technical-
Noted in the 10:20 update (see for chart) that the index was probing support at the lower end of the Nov-Dec trading range at 1085/1083 (session low 1085). This is a support of importance (corrections since March have held at/above previous pullback lows on a close basis, 20 wk exp at 1081) and the index is technically oversold but the market has gotten relatively limited traction thus far. Intraday need to see sustained gains initially back through the 1092 and 1094 levels to begin to improve the short term tone.
11:23
GS Goldman Sachs slides to late morning session lows on a slight jump in 1 min. volume (149.90 -.98) -Update- -Technical-
New six month lows now @ 149.65
11:12
COMDX Crude oil has now recouped its losses to trade into positive territory; currently up 12 cents to $74.83
10:58
HD Home Depot sets minor new session high, the top of its now three day range is at 27.97 (27.88 +0.15) -Technical-
10:57
SPY Indices attempting to lift off low, testing initial bounce highs off session lows -- Dow -39, S&P -2, Nasdaq =1.3 -Update- -Technical-
10:54
UPS UPS shows Relative Strength as it jumps higher intraday above yesterday's high of 59.20 (59.24 +0.60) -Technical-
Note the stock has been trading along its 50-day moving averages the last few days.
10:46
AMGN Amgen runs to fresh session high of 57.55 to test last week's close high at 57.55 (57.43 +0.85) -Technical-
Note that last week's intraday peak is at 57.75 with its early Jan and Dec highs slightly above at 57.87/57.92.
10:42
COMDX Crude oil trades to fresh lows of the day at $73.90, following inventory data; now off 72 cents to $73.99
10:40
BBH Sector ETF strength & weakness through today's 1st hour of trading -Technical-
Actively Traded Leading Sector ETF Plays:
Biotech- BBH +2%, IBB +.5%, XBI +.5%, Commercial banks- KBE +.75%, Financials- XLF +.5%, IYF +.25%, REgional banks- RKH +.75%, KRE +.5%, Livestock commods- COW +.25%, Yen currency shares- FXY +.25%, US bonds- TLT +.25%
Actively Traded Lagging Sector ETF Plays:
Nat gas- UNG -3%, India- INP -3%, Coal- KOL -2.75%, Steel- SLX -2.25%, Base metals- DBB -2.25%, Clean energy- PBW -1.75%, iShares Brazil- EWZ -1.75%, SPDRS metals/mining- XME -1.75%, Ag/chem- MOO -1.75%, Global shippers- SEA -1.75%, iShares S Korea- EWY -1.75%, Solar power- TAN -1.75%, Basic materials- XLB -1.5%, IYM -1.5%, China 25- FXI -1.5%, SPDRS homebuilders- XHB -1.5%, Gold miners- GDX -1.5%, Emerging mkts- EEM -1.5%
10:39
CAT Caterpillar drops to new session low of 51.50, its 200 day ema comes into play at 51.02 (51.67 -4.18) -Update- -Technical-
10:34
APOL Apollo Group moves to session highs as price probes the underside of both the 200 day EMA & SMA moving averages here @ 63.75~63.85 (63.75 +1.87) -Update- -Technical-
APOL +3% strongly outperforming the SPX -.40%.
HoD now @ 63.80
10:31
OIH Crude oil ticks upwards towards flat line following inventory data; now off 21 cents to $74.50
10:27
GILD NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-
NDX 100 Best % Performers:
GILD +6.25%, FLEX +6%, ALTR +5.5%, ATVI +2%, AMZN +2.25%, APOL +2.25%, DTV +1%, AMAT +1%, AMGN +.75%, YHOO +.75%, ERTS +.75%
NDX 100 Worst % Performers:
NIHD -3%, MICC -2.75%, WYNN -2.5%, ADBE -2%, LOGI -1.75%, HOLX -1.75%, MXIM -1.5%, PCAR -1.5%, ORLY -1.5%, FWLT -1.5%, XRAY -1.5%
NASDAQ TRIN @ +1.35
NASDAQ A/D @ -465
10:24
BA Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-
INDU Best % Performers:
BA +3.75%, BAC +1%, TRV +.75%, KFT +.5%, PFE +.5%, JNJ +.5%
INDU Worst % Performers:
CAT -6%, AA -2.5%, UTX -2.5%, HPQ -1.5%, DIS -1%, PG -1%
NYSE TRIN @ +.85
NYSE A/D @ -1275
10:20
SPY S&P 500 sets fresh low for the week, probing the Nov-Dec range lows at 1085/1083 -Update- -Technical-
(Click for chart).
10:18
COMDX After trading back to the unchanged mark, gold has retraced its bounce to trade to fresh lows at $1090.10; now off $6.70 to $1091.60
10:12
SLX Mkt Vctrs Steel Sector ETF drops to new session low (56.50 -0.98) -Technical-
The breakdown off the Jan high continues with today's losses bringing the slide off the Jan high to more than 17.5%. The 38% retracement of the July-Jan rally at 56.52 has just been breached (session low 56.50) with the next area of interest at its mid/late Nov reaction lows at 55.72/55.42. It takes a push back through 57.05/57.20 to begin to improve the intraday bias. (X -6%, NUE -2.3%, CLF -1.2%, SID -1.7%, GGB -1%, PKX -2.4%, RS -1.4%, RTP -1.5%).
10:11
HUM Humana shares exhibit firm technical support off rising 20 day EMA moving average as price rises to session highs in recent trade (49.53 +1.26) -Update- -Technical-
See 9:31 as we highlighted very important 20-day EMA support in play right off the open. Price has risen profitably nearly 1.5pts thus far.
HoD now @ 49.80
10:05
X U.S. Steel shares remain very weak as price probes 200 day EMA support just below 47.00 (47.06 -2.55) -Update- -Technical-
200-EMA @ 46.85. LoD @ 46.83
10:02
SPY Stock indices slip slightly after weaker housing data, hovering just above opening session lows -- Dow -27, S&P -2, Nasdaq -0.1 -Update- -Technical-
10:01
HON Honeywell signed an exclusive distribution agreement with CFP Flexible Packaging, a leading European packaging company (39.78 -0.19)
10:00
COIN Converted Organics' Turf-Blend being used on all greens and tees on the Green Course at Bethpage State Park Golf Course (0.99 -0.01)
Co announced that the Company's Turf-Blend 6-0-0 organic liquid fertilizer is now being used on all greens and tees on the Green Course at Bethpage State Park Golf Course in Farmingdale, NY. In 2009, a study conducted at Bethpage Green in which standard synthetic liquid fertilizer applications were replaced with Turf-Blend(TM) 6-0-0 on greens and tees yielded favorable results.
09:48
ABT Abbott Labs gaps down after reporting, thus far able to hold above its Dec lows at 53/52.94 -- session low 53.15 (53.38 -1.10) -Update- -Technical-
09:44
COMDX Fresh lows for natural gas (the March contract) at $5.282; now lower by 14.6 cents to $5.284
09:43
X U.S. Steel displays opening relative weakness as it dips to fresh lows below the 48.00 area (47.85 -1.60) -Update- -Technical-
09:41
COCO Corinthian Colleges strong off the open, tests/pauses near its Jan high/50 day sma at 14.08/14.10 -- session high 14.07 (13.86 +0.41) -Technical-
09:38
SPY S&P +0.8 lifts off low after minor penetration of yesterday's low, Dow -3 and Nasdaq +7 did not confirm the move under Tuesday low -Technical-
09:37
MCO Moody's stages a strong breakout above recent 4-week range highs along the $28-level (28.86 +2.23) -Technical-
Also keep watch on peer MHP with a similar breakout over its December peak of 35.24.
09:37
CAT Caterpillar pushes to fresh gap down highs as it climbs back through the 53.00 area -- last wk's momentum low overhead near 54.00 area (53.34 -2.45) -Update- -Technical-
09:35
GILD Gilead Sciences gaps up vacillating near its Nov peak at 47.53 (47.35 +2.44) -Update- -Technical-
Its five month high from Sep is at 47.83.
09:35
AMZN Amazon.com showing Relative Strength off the opening as it pushes towards yesterday's high of 122.98 (121.75 +2.27) -Update- -Technical-
09:32
GS Goldman Sachs extends its recent pullback modestly lower off the open as it dips down to challenge the 150.00 area (151.30 +0.66) -Technical-
09:31
HUM Humana shares open lower with price probing widely watched 20-day EMA support @ 48~47.90 (48.22 -.05) -Technical-
LoD on the 20-day EMA @ 47.83
09:30
EEE Evergreen Energy raises approximately $7 million through a registered direct offering (0.34 -0.05)
09:30
TGAL Tegal received an order for a Tegal 200 SE DRIE tool (1.26 +0.08)
Co announced it has received an order for a Tegal 200 SE DRIE tool, equipped with the Tegal ProNovaTM ICP source, from a leading manufacturer of precision timing devices. Tegal was awarded the 200 SE DRIE tool order after a thorough competitive evaluation by the customer, who will use the silicon DRIE tool to develop MEMS-based precision timing devices.
09:30
APWR A-Power Energy selected by China Machine-Building International Corporation in Vietnam project; valued at approximately $40 mln (12.35 +0.44) -Update-
Co announces it has entered into a definitive agreement with China Machine-Building International Corp to co-develop a turn-key solution in the construction of a major cement plant in Vietnam. This D.G. project with CMIC has commenced immediately with the construction duration of 12 months. The total contract has a value of approximately $40 mln with a down payment within 10 days from the contract date. No other details were disclosed.
09:27
CAAS China Automotive and Beijing Auto form joint venture to supply new steering systems (17.17 )
Co announces its subsidiary, Great Genesis Holdings Limited, has signed a definitive agreement to form a joint venture with the Beijing Hainachuan Auto Parts, a subsidiary of Beijing Automobile Industrial Holdings. The new joint venture, Beijing Hailong Automotive System, will design, develop and manufacture both hydraulic and electric power steering systems and parts at competitive prices to meet the growing power steering needs of Beijing Auto. The new JV will be a 50%/50% ownership between CAAS and Beijing Auto, respectively. Four members of the JV's 7-person Board of Directors will be appointed by CAAS with the remaining 3 members appointed by Beijing Auto. A new production facility is expected to be completed and operational within 18 months with a designed capacity for 300,000 units of hydraulic and 200,000 units of electric power steering systems plus parts. This structure will be located approximately 70 kilometers from the Beijing airport and 110 kilometers from the port at Tianjin to provide cost-effective shipping. The total investment is expected to approximate $20 mln, with $10 mln expended in the first 12 months, to be equally shared by both JV partners.
09:26
APWR A-Power Energy delivered 10 units of 2.7MW wind turbines in China (11.91 )
Co announces it has delivered 10 units of 2.7 MW wind turbines in China. On September 16, 2009, the Company signed a "full-responsibility" contract to develop a 49.5MW wind farm in the township of Saiwusu, Guba County, Inner Mongolia, for the Urat Rear Banner-based Jihe Orient Wind Energy Co., Ltd. The first 5 turbines were delivered today. On October 14, 2009, the Company signed another contract to develop a 19.5MW wind farm in the Donggang, Rizhao City of Shandong Province. The first 5 turbines for this wind farm were also delivered today.
09:23
GNVC Genvec entered agreements with institutional investors for sale of 14 mln shares of its common stock and warrants to purchase 4.2 mln shares of common stock (2.47 )
09:19
NVR NVR beats by $0.10, misses on revs (708.69 )
Reports Q4 EPS of $9.61 vs the $9.51 First Call consensus; revs fell 18% YoY to $745.8 mln vs the $757.76 mln First Call consensus. New orders in the fourth quarter of 2009 increased 47% to 2,000 units, compared to 1,357 units in the fourth quarter of 2008. The cancellation rate in the quarter ended December 31, 2009 was 15% compared to 30% in the fourth quarter of 2008 and 14% in the third quarter of 2009. Settlements decreased in the fourth quarter of 2009 to 2,550 units, 8% less than the same period of 2008. Gross profit margins increased to 18.9% in the 2009 fourth quarter compared to 2.6% for the same period in 2008.
09:13
On The Wires
GE (GE) has received commitments to supply wind turbines for wind farms to be developed in Brazil that will add more than 400 megawatts of power to the country's clean energy capacity. These projects will mark the debut of GE's wind turbine technology in Brazil... Zhone Technologies (ZHNE) announces The City of Salisbury in North Carolina has selected Zhone's MXK and zNID Fiber to the Home solutions to serve as the bedrock platforms for a visionary municipal broadband initiative now underway... Flanders Corporation (FLDR) announced that it has selected B. Riley to fill the role of Designated Advisor for Disclosure in conjunction with the Company's expected upcoming transition to the OTCQX U.S. Premier tier of the over-the-counter market... Pioneer Natural Resources (PXD) announces that the co added proved reserves totaling 52 mln barrels oil equivalent during 2009 from discoveries, extensions and technical revisions. These additions equate to 114% of full-year 2009 production. The drillbit finding and development cost for the proved reserve additions was $7.42 per barrel oil equivalent, a continuing downward trend in the Company's drillbit F&D cost... Perma-Fix Environmental Services (PESI) announces that it has renegotiated more favorable interest rate terms on its Term Loan and Revolving Line of Credit with PNC Bank. Under the Amendment, the Company and the lender have lowered the floor on the LIBOR interest rate option by 150 basis points to 1%, allowing for minimum interest rates of 4.5% and 4.0%, respectively. The Prime rate option of Prime plus 2.5% and 2.0% for the Term Loan and Revolving Line of Credit respectively, has not changed... Johnson Outdoors (JOUT) filed a patent infringement lawsuit against Navico, Inc. for infringement of U.S. Patent No. 7,652,952 by Navico's sale of the Lowrance LSS-1 StructureScan Imaging System. Johnson Outdoors' patent protects the Humminbird Side Imagingsonar technology.
09:10
CSIQ Canadian Solar and Fire Energy announce 60MW contract (23.04 )
Co announced that that it has entered into a sales contract with Fire Energy Group. Under terms of the contract, shipments started in January, with Canadian Solar expected to supply 60MW of PV modules to Fire Energy in 2010.
09:09
TMP Tompkins Finl reports Q4 EPS of $0.76, adjusted for 10% stock dividend approved on Jan. 27, may not compare to $0.82 First Call consensus (39.10 )
Co reports Q4 EPS of $0.76, adjusted for 10% stock dividend approved on Jan. 27, 2010. Net interest income for 4Q09 was $27.9 mln, up 12.5% from the same quarter last year. The provision for loan and lease losses increased to $2.8 mln in 4Q09, compared to $2.1 mln in 4Q08.
09:05
KMP Kinder Morgan Prtnrs announces $98 million terminals acquisition (65.35 )
Co announces it has signed a definitive purchase and sale agreement to acquire four terminals from Slay Industries for approximately $98 million. The facilities include a marine terminal in Sauget, Ill., a transload liquid operation in Muscatine, Iowa, a liquid bulk terminal in St. Louis, Mo., and a warehousing distribution center in St. Louis. This acquisition, which gives KMP a foothold into the strategic St. Louis terminal market, complements the company's extensive terminal network by adding a diverse mix of liquid and bulk capabilities. The terminals being purchased have long-term contracts with large credit worthy shippers.
09:04
GAP Great A&P Tea announces appointment of Ron Marshall as President & CEO effective Feb. 8, 2010 (8.10 )
09:03
CVX Chevron announces that its subsidiary will proceed with the development of the Papa Terra project as its second deepwater development offshore Brazil (74.15 )
Co announces that its subsidiary will proceed with the development of the Papa Terra project as its second deepwater development offshore Brazil. Situated 70 miles offshore in water depths of approximately 3,900 feet (1,190 meters), Papa Terra is a heavy oil subsea development located within Block BC-20 of the southern Campos basin. The project will feature the first tension leg well platform in Brazil which will be connected to a floating production, storage, and offloading vessel. The completed facility will be capable of producing up to 140,000 barrels of crude oil per day. First production from the Papa Terra project is expected in 2013.
09:02
CBPO China Biologic Products Responds to Allegations on Financial Websites; has established an independent subcommittee to investigate the additional allegations (8.71 )
Co has responded to allegations regarding the Company, certain members of its Board of Directors and a significant employee in an article that appeared on several online financial websites. The co notes that the article, which was written by an investor who disclosed a short position in the Company, highlighted the circumstances surrounding a RMB20 mln loan from one of the Company's founding shareholders. In particular, the legality of the equity transfer among the original founders has been confirmed by various PRC courts and has withstood several appeals by Dr. Du. Furthermore, in early 2007, the Company engaged Control Risks Group, a private risk consultancy firm specializing in investigative services, to conduct a general independent investigation into the background of the Company's officers, directors and control persons, and no misconduct was found. Additionally, after consultation with legal counsel and the members of the audit committee, the Board of Directors has established a special independent subcommittee comprised of audit committee chair, Mr. Sean Shao, and independent director, Dr. Tong Jun Lin, to investigate the additional allegations and report back to the Board of Directors.
09:02
BHI Baker Hughes ests and tgt raised to $55 at Credit Suisse following a head-turner quarter (46.89 ) -Update-
Credit Suisse raises their 2010 EPS estimate to $2.10 from $1.85 (consensus $1.97) and their 2011 estimate to $2.95 from $2.50 (consensus $2.96) following what the firm described as a "head turner" quarter for BHI. In addition, the firm raises their tgt to $55 from $43. The firm suspects that shares can continue to outperform very near term. However the firm believes share performance through the course of 2010 should be hampered by market share losses that have developed over the last two years and the potential loss of momentum in the U.S. markets that can result from continued evidence of very healthy supply of natural gas.
09:01
LYV Live Nation comments on Liberty Media's proposed partial tender offer; Board of Directors intends to evaluate Liberty Media's proposed offer (12.15 )
Co notes the announcement by Liberty Media of its intention to commence a partial tender offer to acquire up to 34,500,000 shares of Live Nation's outstanding common stock for $12.00 per share in cash. Live Nation's Board of Directors intends to evaluate Liberty Media's proposed offer in consultation with its financial and legal advisors, and the Board will advise Live Nation's stockholders of its position regarding the offer, as well as its reasons for that position, after the proposed offer has been commenced. In the interim, Live Nation requests that its stockholders defer taking action with respect to Liberty Media's proposed offer until they have been advised of Live Nation's position with respect to the offer.
08:41
APC Anadarko Petro announces Lucius appraisal well encounters more than 600 net feet of pay (63.89 )
Co announces that the Lucius sidetrack appraisal well, located in Keathley Canyon block 875 in the deepwater Gulf of Mexico, encountered almost 600 net feet of high-quality oil pay with additional gas-condensate pay in thick subsalt Pliocene and Miocene sands. "The successful Lucius appraisal well confirms this is a major discovery with substantial resource potential," said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration. "We were very encouraged by what we saw in the discovery well, and the results from this appraisal further heighten our enthusiasm. The reservoirs are characterized by excellent porosity and permeability and contain high-quality oil. We anticipate additional appraisal activity in 2010 as we continue to evaluate development options for this very large accumulation."... Anadarko operates the Lucius well with a 50-percent working interest. Co-owners in the discovery include Plains Exploration & Production Company (PXP) with a 33.33-percent working interest and Mariner Energy, Inc. (ME) with 16.67-percent working interest.
08:36
On The Wires
EMCORE (EMKR) announces that it has been awarded a contract by ATK Space Systems of Goleta, California to manufacture, test, and deliver solar panels for ATK's UltraFlex solar arrays. The period of performance for this contract for the first two vehicles runs through 2013 and is valued in the range of $9-$11 mln... Conolog Corporation (CNLG) announces that it has completed field testing and started production/marketing of its "GlowWorm" fiber optic detector that may be used in any fiber optic line or network without the need to cut the cable... Kratos Defense & Security Solutions (KTOS) announces a contract to provide NeuralStar to the U.S. Army for network management of its IP-over-Satellite communications systems, helping ensure global U.S. forces on the move will remain connected and communicating... Inovio Biomedical Corporation (INO) unveiled its new clinical-grade, miniaturized electroporation device designed to be an easy-to-use, portable delivery product for DNA vaccines. Inovio believes the device may be used to inoculate large populations against infectious diseases such as influenza, dengue and malaria... Abiomed (ABMD) announces a a strategic partnership with Opsens, a leading developer of fiber optic sensors. Through this partnership, Opsens' breakthrough sensor technology will be integrated into the Impella catheter to provide robust blood pressure measurements that can be used to enhance Impella's performance and ease-of-use.
08:34
BOKF BOK Financial misses by $0.03 (48.76 )
Reports Q4 (Dec) earnings of $0.63 per share, $0.03 worse than the First Call consensus of $0.66. Net interest revenue totaled $184.5 mln, up $4.0 mln over 3Q09. Net interest margin was 3.64% for 4Q09 and 3.63% for 3Q09. Non-performing assets totaled $484 mln or 4.24% of outstanding loans and repossessed assets at Dec. 31, 2009, down from $490 mln or 4.19% of outstanding loans and repossessed assets at Sept. 30, 2009. The combined allowance for credit losses totaled $306 mln or 2.72% of outstanding loans and 90% of non-accruing loans at Dec. 31, 2009. The allowance for loan losses was $292 mln and the reserve for off-balance sheet credit losses was $14 mln.
08:33
MTZ MasTec announces the appointment of Ray Harris as President (12.96 )
Co announces that it has appointed Ray Harris as its President. Mr. Harris will be responsible for leading MasTec's business development efforts and will report directly to Jose Mas, MasTec's Chief Executive Officer. Mr. Harris brings to MasTec over 30 years of experience in the utility and energy industries. Most recently he served as President and CEO of Mesa Power.
08:33
COP ConocoPhillips beats by $0.04 (50.43 )
Reports Q4 (Dec) earnings of $1.16 per share, ex-items, $0.04 better than the First Call consensus of $1.12. "Our upstream business performed well during this quarter and throughout 2009. E&P full-year production was 65,000 BOE per day higher than 2008 production due to project ramp-ups and high operating efficiency. North American natural gas prices were improved slightly from the third quarter but for the year still lagged behind 2008 levels, negatively impacting both 2009 production volumes and earnings. In downstream, our utilization rates were significantly impacted by reduced run rates due to low worldwide refining margins."
08:32
LAZ Lazard announces Felix Rohatyn returned as Special Advisor to Chairman and Chief Executive Officer (37.50 )
Co announced that Felix Rohatyn has returned to the firm as Special Advisor to Chairman and Chief Executive Officer Kenneth M. Jacobs, effective February 1. Rohatyn, based in New York, had a nearly 50-year career at Lazard, as a Partner and Managing Director, until he left in 1997 to serve as United States Ambassador to France.
08:32
EXP Eagle Materials misses by $0.04, misses on revs (24.14 )
Reports Q3 (Dec) earnings of $0.11 per share, $0.04 worse than the First Call consensus of $0.15; revenues fell 24.1% year/year to $104.6 mln vs the $109.4 mln consensus. Lower operating costs across all of Eagle's businesses, as well as lower financing costs and corporate overhead, were offset by continued declines in quarterly sales volumes and prices. Gypsum Wallboard and Paperboard's third quarter operating earnings of $0.9 million were down 86% over the same quarter last year. Lower net sales prices and sales volumes were the primary drivers of the quarterly earnings decline. Operating earnings from Cement for the third quarter were $13.4 million, a 39% decline from the same quarter a year ago.
08:31
AEZ American Oil & Gas announces that drilling operations have been successfully concluded on the Tong Trust 1-20H well (3.99 )
Co announces that drilling operations have been successfully concluded on the Tong Trust 1-20H well, located in Sections 17 and 20 of T157N-R96W, Williams County, North Dakota. An approximate 9,000' horizontal lateral was drilled in the targeted Bakken formation. Completion operations are expected to commence in late February, depending on weather. The Tong Trust 1-20H well is being drilled, completed and funded under the terms of a previously announced participation agreement. The drilling rig that was used to drill the Tong Trust well is currently being moved to American's next well at Goliath, the Ron Viall 1-25H well located in 156N-98W Sections 24 and 25 in Williams County. The Ron Viall well is spaced on 1,280 acres and is designed for an approximate 9,000' horizontal lateral to be drilled in the Bakken formation. Weather permitting, drilling is expected to commence on the Ron Viall well within the next two weeks and is estimated to take approximately 30 to 45 days to conclude. The Ron Viall well is not part of the previously announced participation agreement. American owns and will fund its 95% working interest in this well.
08:31
EMKR Emcore awarded solar panel manufacturing contract from ATK Space Systems; valued in a range of $9-$11 mln (1.00 )
Co announces that it has been awarded a contract by ATK Space Systems to manufacture, test, and deliver solar panels for ATK's UltraFlex solar arrays. These solar arrays will be used to power the Orion spacecraft being developed by Lockheed Martin Space Systems Company for NASA. The period of performance for this contract for the first two vehicles runs through 2013 and is valued in the range of $9-$11 mln. The flight solar array system is expendable for each Orion mission and continuous production is expected to run through 2020 and beyond.
08:30
MDR McDermott subsidiary receives $450 mln order for nuclear components (23.05 )
Co announced that The Babcock & Wilcox Company, through a subsidiary, has received an award of approximately $450 million for the manufacture of nuclear components to support U.S. defense programs, including the manufacture of U.S. Naval nuclear power systems for submarines and aircraft carriers. The value of this contract was recorded in McDermott's Government Operations segment backlog during the fourth quarter 2009.
08:30
GIB CGI Group reports EPS in-line, misses on revs (13.88 )
Reports Q1 (Dec) earnings of CDN$0.27 per share, excluding non-recurring items, in-line with the First Call consensus of CDN$0.27; revenues fell 8.7% year/year to CDN$913 mln vs the CDN$970.6 mln consensus. Foreign exchange fluctuations unfavourably impacted revenue by $50.3 million, or 5.0% compared with the same period last year. Sequentially, revenue was stable on a constant currency basis. During the quarter, the Company booked $1.6 billion in new contract wins, extensions and renewals, bringing the total bookings over the last twelve months to $4.9 billion. At the end of December 2009, the Company's backlog of signed orders stood at $11.4 billion, up $517 million from the end of fiscal 2009. This represents 3.0x annual revenue. "Increased client project activity and growing momentum in our sales funnel coupled with higher bookings reinforce our expectation of a gradual return to more traditional levels of top line growth during the remainder of our fiscal year." Co also announces its board authorizes the renewal of its normal course issuer bid.
08:17
FWLT Foster Wheeler says a subsidiary of its Global Power Group has been awarded a contract to design and supply a Low NOx Burner System for the Spanish utility company ENDESA. (30.90 )
08:10
On The Wires
MoSys (MOSY) announces that ROHM has signed a major technology license agreement for MoSys' 1T-SRAM embedded memory technology. The technology license agreement will enable ROHM to design and manufacture ICs utilizing 1T-SRAM in ROHM's fabrication facilities... Wipro Technologies (WIT) announces that it has entered into a multi-year outsourcing engagement with British American Tobacco (BTI), to help the company improve the effectiveness and efficiency of application support services for its global business operations... Stanley (SXE) announces that it was awarded a five-year blanket purchase agreement with an estimated value of $18.4 mln, with the exercise of four options, to provide document processing support services for the Office of Personnel Management Enterprise Human Resources Integration Program... Weyerhaeuser Company (WY) announces that its Cellulose Fibers business segment has successfully introduced a new grade of Kraft pulp for specific segments of the cellulose derivatives market... Church & Dwight (CHD) announce that the U.S. Food and Drug Administration has cleared the FIRST RESPONSE Early Result Pregnancy Test... O'Charley's (CHUX) has entered into a $45 mln secured revolving credit facility, which matures on August 1, 2013, and amends and restates the Company's existing secured revolving credit facility that was scheduled to mature on October 18, 2011... LendingTree, a subsidiary of Tree.com (TREE) announces the launch of its first-ever (AAPL) iPhone App, the Mortgage RateFinder, now available at the Apple Store... Varian Medical Systems (VAR) announces that it has been given certification to assemble and service X-ray tubes in China to support its growing customer base of X-ray equipment manufacturers and service organizations... Cypress Semiconductor (CY) introduces a touchscreen device driver supporting the Android mobile handset platform, and announces that it has joined the Open Handset Alliance... Dejour Enterprises (DEJ) announces that the expansion of compression facilities at its 75% owned Woodrush project in the Peace River Arch, NE British Columbia has been completed and is expected to result in increased gross production for the project of approximately 1,200 MCF per day when reconnected to the Spectra pipeline by month end. Operational enhancements, combined with better terms for transportation and sales, is expected to increase overall gross production for the project to approximately 650 BOE per day with netbacks per barrel of oil equivalent targeted to improve by an estimated 15%.
08:07
UTSI UTStarcom selected Sanmina-SCI Corporation as its new outsourced electronics manufacturing service provider (2.39 )
UTStarcom, Inc. (UTSI) selected Sanmina-SCI Corporation (SANM) as its new outsourced electronics manufacturing service provider (EMS), a move that aligns with UTStarcom's announced restructuring initiatives and expands the company's cost savings efforts. Under the terms of the agreement, Sanmina-SCI will provide full electronics manufacturing services for UTStarcom's system products currently being built in UTStarcom's Hangzhou facility. These services include new product introduction (NPI) support, material sourcing and procurement, printed circuit board assembly, system integration and testing, final pack-out and delivery. Increasing UTStarcom's ability to manage demand swings, the flexible cost structure of this outsourcing agreement matches UTStarcom's volume of orders and allows for a faster cash flow cycle and lower working capital usage.
08:05
AEP American Electric reaffirms FY10 EPS range of $2.80-$3.20 vs $3.06 consensus (35.61 )
08:05
ID L-1 Identity Solutions announced a contract valued at $9.9 million over three years (7.46 )
Co announced a contract valued at $9.9 million over three years for advanced live scan biometric capture systems to be used as part of the USCIS immigrant citizenship application process. The terms include a one-year base contract of $6.6 million with two consecutive one-year options of approximately $1.6 million for additional solutions and services that bring the total contract value to $9.9 million over three years. The systems included in the base contract will be fully deployed by the end of the first half of 2010 within all of the 134 U.S. Customs and Immigration Service Application Support Centers (ASCs) located throughout the U.S. and U.S. territories of Saipan, Guam, the Virgin Islands and Puerto Rico.
08:05
FFCH First Fincl Hldgs reports 1Q10 net loss of ($0.28) vs. ($0.23) First Call consensus; net interest income decreased 3.4% to $32.9 mln (12.01 )
The company recognized a provision for loan losses of $25.3 mln for the quarter ended Dec. 31, 2009 compared to $21.3 mln for the quarter ended Sept. 30, 2009, and $20.5 mln for the quarter ended Dec. 31, 2008. The company increased its allowance for loan losses as a percent of total loans from 257 basis points during the quarter ended Sept. 30, 2009 to 278 basis points during the quarter ended Dec. 31, 2009. Problem assets, which include non-accrual loans, accruing loans 90 days or more past due and real estate owned, as a percentage of total assets were 3.73% at December 31, 2009 compared with 2.92% at September 30, 2009 and 1.33% at December 31, 2008.
08:05
UAUA UAL Corp. beats by $0.42, beats on revs (12.79 )
Reports Q4 (Dec) loss of $1.05 per share, $0.42 better than the First Call consensus of ($1.47); revenues fell 7.8% year/year to $4.19 bln vs the $4.09 bln consensus. The company expects both mainline and consolidated CASM, excluding fuel, profit sharing and certain accounting charges for the full year 2010 to be up 2.0% to 3.0% year-over-year. The company expects scheduled debt and capital lease payments of approximately $700 million, non-aircraft capital expenditures of approximately $350 million and aircraft pre-delivery deposits of approximately $60 million for the full year. The company's hedge book consists of roughly 50% call options and 50% swaps, providing protection against rising fuel prices, while allowing significant downside participation if fuel prices fall. For the first quarter 2010, the company has capped 70% of its estimated consolidated fuel consumption at a crude-equivalent average price of $75 per barrel. For the full year 2010, the company has capped 40% of its estimated consolidated fuel consumption at a crude-equivalent average price of $77 per barrel. The company will benefit from about 80% downside participation for the full year 2010 if fuel prices fall.
08:04
NYB NY Comm Bancrp misses by $0.01 (14.99 )
Reports Q4 (Dec) earnings of $0.26 per share, $0.01 worse than the First Call consensus of $0.27. The Company also reported cash earnings of $191.3 million, or $0.51 per diluted share, in the current fourth quarter, which added $21.1 million, or 12.4%, more to tangible capital than its fourth quarter GAAP earnings alone. At 3.33%, the net interest margin was up 46 basis points year-over-year and 16 basis points linked-quarter. At $9.2 million, net charge-offs equaled 0.04% of average loans in the quarter, as compared to 0.81% for the SNL Bank & Thrift Index. Non-performing assets represented 1.41% of total assets at the end of the quarter, as compared to the SNL Bank & Thrift Index measure of 3.04%. "We naturally are very pleased by the significant growth we experienced this quarter in our revenues and earnings, our loans and assets, our core and total deposits, and, perhaps most importantly, our tangible capital strength."
08:03
BG Bunge to sell Brazilian fertilizer nutrients assets to Vale for $3.8 bln in cash (62.02 )
Co announces that it has entered into a definitive agreement with Vale S.A. (VALE) under which Vale will acquire Bunge's fertilizer nutrients assets in Brazil, including its interest in Fertilizantes Fosfatados S.A. (Fosfertil), for $3.8 bln in cash. Net proceeds after taxes, transaction fees and expenses will be approximately $3.5 bln. Under the terms of the agreement, Vale will acquire Bunge's 42.3% interest in Fosfertil, as well as Bunge's wholly owned phosphate mines and related production facilities in Brazil. The total annual phosphate rock production capacity of Bunge's nutrients assets and its share of Fosfertil is approx 3 mln tons. Bunge will retain its retail fertilizer operations in Brazil and will enter into a supply agreement with Vale through 2012, with an option to extend it for one additional year. Bunge will also retain its fertilizer operations in Argentina and the U.S., and its 50% stake in its joint venture with Office Cherifien des Phosphates in Morocco.
08:03
PJC Piper Jaffray beats by $0.10, beats on revs (48.14 )
Reports Q4 (Dec) earnings of $0.63 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.53; revenues rose 123.7% year/year to $132.9 mln vs the $124.8 mln consensus. For the fourth quarter of 2009, total investment banking revenues were $73.6 million, up 189 percent compared to the fourth quarter of 2008 and up 52 percent compared with the third quarter of 2009.
08:02
TRE Tanzanian Royalty Exploration announces Jinchuan Mining to participate in the exploration and development of the Company's Kabanga nickel properties (4.05 )
Co announces that a major Chinese metals company, Jinchuan Mining, has agreed to participate in the exploration and development of the Company's Kabanga nickel properties in northwestern Tanzania. Following the recent conclusion of an option agreement with Beijing Songshanheli Mining Investment Co. Ltd., which previously held the properties under an exclusive agreement with Tanzanian Royalty, Jinchuan Mining has agreed to act as operator and hold complete financial responsibility for all exploration activities on the nickel exploration licenses.
08:02
ITW Illinois Tool beats by $0.24, beats on revs; guides Q1 EPS in-line; guides FY10 EPS in-line (45.19 )
Reports Q4 (Dec) earnings of $0.98 per share, $0.24 better than the First Call consensus of $0.74; revenues fell 5.0% year/year to $3.76 bln vs the $3.71 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.48-0.60 vs. $0.58 consensus. Co issues in-line guidance for FY10, sees EPS of $2.43-2.93 vs. $2.74 consensus.
07:51
ABT Abbott Labs beats by $0.01,beats on revs; guides FY10 EPS above consensus (54.48 )
Reports Q4 (Dec) earnings of $1.18 per share, ex-items, $0.01 better than the First Call consensus of $1.17; revenues rose 10.7% year/year to $8.8 mln vs the $8.6 bln consensus. Co issues upside guidance for FY10, sees EPS of $4.20-$4.25, ex-items, vs. $4.17 consensus. Worldwide pharmaceutical sales increased 5.2%, including a favorable 2.5% effect of exchange rates. Worldwide medical products sales increased 23.4%, including a favorable 3.2% effect of exchange rates.
07:50
VLO Valero Energy beats by $0.15, beats on revs; cuts quarterly dividend to $0.05 from $0.15 (19.02 )
Reports Q4 (Dec) loss of $0.32 per share, excluding non-recurring items, $0.15 better than the First Call consensus of ($0.47); revenues rose 140.9% year/year to $18.87 bln vs the $18.34 bln consensus. "Weak demand, narrow margins, and low discounts in the fourth quarter exemplified how difficult refining conditions were in 2009. While 2009 may have been the bottom for refining profitability, there's too much inventory and spare refining capacity in the industry right now for margins to rebound quickly. Economic growth will help demand recover in 2010, but we also expect new refining capacity to come online in the U.S. and around the world. Therefore, 2010 is expected to be another challenging year for the industry while refiners close marginal capacity and wait for demand growth to work down spare capacity. However, assuming another year of low margins like in 2009, Valero should be profitable in 2010 because of the strategic actions we have taken to improve our competitive position. To maintain our financial strength, we have cut our quarterly dividend to five cents per share, and we remain focused on reducing overhead costs. For 2010, we have targeted another $100 million of pre-tax cost reductions throughout our system, and we will continue to seek additional ways to improve our competitiveness."
07:45
On The Wires
Ronald A. Katz Technology Licensing, L.P. announces that AXA Equitable Life Insurance Company has purchased a license under the patent portfolio held by Ronald A. Katz Technology Licensing, L.P. and licensed through its affiliate, A2D, L.P. AXA Equitable Life Insurance Company is part of the AXA Group (AXA)... SunOpta (STKL) announces that it has commenced an environmentally responsible energy recovery project at its Cambridge, Minnesota oat fiber facility. The project will significantly reduce the release of greenhouse gases and various waste materials from the facility as well as provide an excellent return on invested capital of ~$1 mln... SolarWinds (SWI) has acquired certain assets of Tek-Tools, a privately-held company with offices in Dallas, TX and Chennai, India, with a combination of cash and stock for up to $42 mln... Ronald A. Katz Technology Licensing, L.P. announces that AFLAC (AFL) has purchased a license under the patent portfolio held by Ronald A. Katz Technology Licensing, L.P. and licensed through its affiliate, A2D, L.P... First Potomac Realty Trust (FPO) announces that CORT Business Services Corporation has signed a seven-year lease at Cavalier Industrial Park in Chesapeake, Virginia... RADCOM (RDCM) announces that CTM, a Macau telecom operator, has decided to expand their deployment of RADCOM equipment... PTC (PMTC) announces that Volvo Group has signed an agreement moving PTC from a directional decision to a firm strategic decision to use Windchill, PTC's PLM software, for Volvo Group's strategic VPDM program.
07:40
BA Boeing beats by $0.39, beats on revs; guides FY10 (Dec) EPS below consensus, revs in-line (57.71 )
Reports Q4 (Dec) earnings of $1.75 per share, $0.39 better than the First Call consensus of $1.36; revs grew 42% year/year to $17.93 bln vs $17.57 bln consensus. Co issues downside guidance for FY10 (Dec), sees EPS of $3.70-4.00 vs. $4.26 consensus; sees FY10 (Dec) revs of $64-66 bln vs. $65.42 bln consensus. Total company backlog at quarter-end was $316 bln, down 1% in the qtr, as backlog for both Commercial Airplanes and Defense, Space & Security declined during the period. Co reports 787 program entered flight testing during the quarter with the first two airplanes completing first flights. The remaining four flight-test airplanes are expected to be flying by the end of the second quarter. First delivery is scheduled for the fourth quarter of 2010. Total firm orders for the 787 at quarter-end were 851 airplanes from 56 customers. The 747-8 program expects its first flight in the near future which will begin the flight-test phase of the program. Initial delivery is expected in the fourth quarter of 2010. Operating cash flow is expected to be approximately zero in 2010, including less than $100 million of pension contributions, as the company continues to build inventory on key development programs. The company expects that 2011 revenue will be higher than 2010, primarily driven by higher estimates of 787 and 747-8 deliveries. Combining higher estimated deliveries with plans for R&D and other factors, operating cash flow in 2011 is expected to be greater than $5 bln. Commercial Airplanes' 2010 delivery guidance is established at between 460 and 465 airplanes (reflecting fewer twin-aisle deliveries) and is sold out. It includes the first few 787 and 747-8 deliveries, which are expected to begin in the fourth quarter.
07:38
CAT Caterpillar beats by $0.13, misses on revs; guides FY10 EPS below consensus, revs in-line (55.85 )
Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.28; revenues fell 38.9% year/year to $7.9 bln vs the $8.11 bln consensus. Co issues mixed guidance for FY10, sees EPS to be 'about 2.50 at the midpoint of sales and revenue range' vs. $2.71 consensus; sees FY10 revs up 10-25% y/y (~35.6- 40.4 bln) vs. $36.06 bln consensus. Sales volume is expected to be the most significant positive profit driver in 2010. Material costs are expected to be favorable in 2010.
07:37
CYTK Cytokinetics announces results from its Phase I, randomized, double-blind, placebo-controlled, multiple-dose clinical trial of oral CK-2017357 (2.96 )
Co announces results from its Phase I, randomized, double-blind, placebo-controlled, multiple-dose clinical trial of oral CK-2017357. The primary objective of this clinical trial was to determine the safety and tolerability of CK-2017357 after multiple oral doses to steady state in healthy male volunteers. The secondary objective was to evaluate the pharmacokinetic profile of CK-2017357 after multiple oral doses to steady state. "These results, in combination with the single dose Phase I data presented earlier this month, are encouraging because they demonstrate that with continued daily oral dosing, CK-2017357 plasma concentrations can be achieved and maintained in a range that has been shown to increase skeletal muscle function in humans. The low inter-subject variability and modest accumulation we observed during multiple dosing in healthy volunteers in this study suggests that during chronic outpatient administration, plasma concentrations of CK-2017357 may be unlikely to exceed those that have been well-tolerated by healthy volunteers after single doses up to 2000 mg. We believe these data support movement into Phase II Evidence of Effect trials in patients with neuromuscular diseases and other conditions that may limit mobility."
07:36
STJ St. Jude Medical beats by $0.02, reports revs in-line; guides Q1 EPS above consensus; guides FY10 EPS in-line (37.79 )
Reports Q4 (Dec) earnings of $0.64 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.62; revenues rose 6.2% year/year to $1.2 bln vs the $1.2 bln consensus. Co issues upside guidance for Q1, sees EPS of $0.66-0.68, excluding non-recurring items, vs. $0.65 consensus. Co issues in-line guidance for FY10, sees EPS of $2.71-2.76, excluding non-recurring items, vs. $2.71 consensus.
07:36
MWV MeadWestvaco misses by $0.01, beats on revs (26.62 )
Reports Q4 (Dec) earnings of $0.22 per share, excluding $0.07 net benefit from special items, $0.01 worse than the First Call consensus of $0.23; revenues rose 2.3% year/year to $1.64 bln vs the $1.52 bln consensus. While the company believes overall demand may have stabilized at current levels, and is seeing volume growth opportunities in some markets and products, the resiliency and pace of these trends remains uncertain given continued weak economic conditions. The company expects to benefit from its growing positions in developing regions, in particular China, Brazil and India, to help offset persistent challenges in developed markets, in particular the U.S. and Western Europe. The company expects continued benefits from its transformation strategies and ongoing cost reductions to be the significant driver of improved year-over-year performance in the first quarter.
07:35
ROL Rollins, Inc. reports 4Q results; beat by $0.06 cents, beats on revs (18.38 )
Rollins, Inc. reports Q4 earnings of $0.20 vs $0.14 First Call consensus; revs rose 4.6% year/year to $259.6 mln vs $254.57 mln First Call consensus. Co said,"The continued development and deployment of our key programs should enable us to continue to make prudent investments to grow our business both organically and through strategic acquisitions. We believe that Rollins enters the 2010 fiscal year well-positioned to benefit from our 2009 achievements."
07:35
SO Southern Co beats by $0.01, misses on revs (32.97 )
Reports Q4 (Dec) earnings of $0.31 per share, ex-items, $0.01 better than the First Call consensus of $0.30; revenues fell 7.6% year/year to $3.5 mln vs the $4.24 bln consensus. Co states, "The recession had a significant impact on overall electricity sales and usage in 2009, with industrial sales showing the largest decline - 11.8% year over year. In the third quarter, industrial activity in the Southeast stabilized and began showing signs of improvement."
07:34
GD General Dynamics beats by $0.02, misses on revs (68.72 )
Reports Q4 (Dec) earnings of $1.59 per share, $0.02 better than the First Call consensus of $1.57; revenues rose 0.6% year/year to $7.9 bln vs the $8.4 bln consensus.
07:32
ATI Allegheny Tech beats by $0.13, beats on revs (42.46 )
Reports Q4 (Dec) earnings of $0.36 per share, $0.13 better than the First Call consensus of $0.23; revenues fell 26.7% year/year to $815.7 mln vs the $764.6 mln consensus. Co said, "Looking ahead, we expect to see gradual and steady improvement in most of our global markets in 2010. We plan to continue to improve our cost structure through a 2010 target of at least $100 million of new gross cost reductions. Further, we expect to recover and profitably grow faster than our core global markets as a result of our new and extended LTAs and innovative new products that improve our market position, and our leading manufacturing capabilities."
07:32
HES Hess beats by $0.19, beats on revs (59.09 )
Reports Q4 (Dec) earnings of $1.10 per share, $0.19 better than the First Call consensus of $0.91; revenues rose 17.6% year/year to $8.68 bln vs the $7.82 bln consensus. Exploration and Production earnings were $494 million in the fourth quarter of 2009 compared with a loss of $125 million in the fourth quarter of 2008. The co's oil and gas production was 415,000 barrels of oil equivalent per day in the fourth quarter of 2009, an increase of 9.5% from the fourth quarter of 2008. The Corporation's average worldwide crude oil selling price, including the effect of hedging, was $63.74 per barrel in the fourth quarter of 2009 compared with $45.00 per barrel in the fourth quarter of 2008. The Corporation's average worldwide natural gas selling price was $5.19 per Mcf in the fourth quarter of 2009 compared with $6.26 per Mcf in the fourth quarter of 2008.
07:31
APU AmeriGas Partners misses by $0.08, misses on revs (41.16 )
Reports Q1 (Dec) earnings of $1.15 per share, $0.08 worse than the First Call consensus of $1.23; revenues fell 8.9% year/year to $656.6 mln vs the $668.8 mln consensus. For the three months ended Dec. 31, 2009, retail propane volumes sold were 267.4 mln gallons compared with retail propane volumes of 278.2 mln gallons in the prior-year period.
07:31
DKS Dick's Sporting Goods increases 2009 expectations (23.45 )
Co issues upside guidance for Q4 (Jan), sees EPS of atleast $0.54 up from the previous estimate of $0.41 to 0.46 vs. $0.49 First Call consensus. Comparable store sales for the fourth quarter of 2009 are now expected to increase approximately 2% as compared to the previously expected decline of 6 to 4% provided on November 19, 2009. Comparable store sales declined 8.6% in the fourth quarter of 2008. The comparable store sales calculation for the fourth quarter in 2008 and 2009 includes Dick's Sporting Goods stores and Golf Galaxy stores. It excludes Chick's Sporting Goods stores converted to Dick's Sporting Goods stores. In 2010, the Company currently anticipates generating profitable growth with earnings per share greater than current 2009 expectations. In accordance with standard practice, the fourth quarter and full year 2009 results along with additional detail regarding 2010 expectations will be provided in March 2010.
07:22
RES RPC Inc beats by $0.01, beats on revs (12.31 )
Reports Q4 (Dec) loss of $0.05 per share, $0.01 better than the First Call consensus of ($0.06); revenues fell 33.1% year/year to $152.4 mln vs the $144.6 mln consensus. Revenues decreased compared to the prior year due primarily to lower pricing for our services coupled with lower utilization of our equipment and personnel. "During the fourth quarter we began to see signs of increasing customer activity levels and improvement in our personnel and equipment utilization consistent with the sequential increases in the domestic rig count and the prices of oil and natural gas. In selected areas, we also began to experience firmer pricing for our services. RPC's revenues increased 15.3 percent sequentially during the fourth quarter which is slightly higher than the domestic rig count increase of 14.2 percent. RPC's operating loss during the fourth quarter narrowed as compared to the third quarter, due to higher revenues and the resulting positive leverage of direct costs and selling, general and administrative expenses. While customer activity levels increased slightly we remain in a very competitive pricing environment."
07:10
UTX United Tech beats by $0.01, beats on revs; guides FY10 EPS in-line (68.47 )
Reports Q4 (Dec) earnings of $1.15 per share, $0.01 better than the First Call consensus of $1.14; revenues fell 4.5% year/year to $14.1 bln vs the $13.84 bln consensus. Co issues in-line guidance for FY10, sees EPS of $4.40-4.65 vs. $4.60 consensus.
07:09
AAI Air Tran Holdings beats by $0.08, beats on revs (5.23 )
Reports Q4 (Dec) earnings of $0.11 per share, $0.08 better than the First Call consensus of $0.03; revenues rose 1.5% year/year to $598.4 mln vs the $585.4 mln consensus.
07:09
DSPG DSP Group beats by $0.07, beats on revs (6.46 )
Reports Q4 (Dec) earnings of $0.12 per share, ex-items, $0.07 better than the First Call consensus of $0.05; revenues fell 23.5% year/year to $54.7 mln vs the $53.9 mln consensus. Co states, "As we look to 2010, we expect conditions in our major end markets, including Europe and the U.S., to improve. We project revenue growth of 10% for 2010 over 2009 (which equates to approximately $233.4 mln vs. $233.97 mln consensus) reflecting a sharp recovery during the first quarter, as compared to the first quarter of 2009, and revenue generation from our new product categories throughout the year."
07:07
SPPI Spectrum Pharma terminates Ozarelix development program in benign prostate hypertrophy as it continues to prioritize its portfolio strategy (4.53 )
Co announces that it is discontinuing development of ozarelix in benign prostatic hypertrophy (BPH). "While ozarelix is a potent GnRH antagonist, low-dose intermittent therapy has been disappointing in the treatment of lower urinary tract symptoms in men with BPH. As a result, we have made the strategic decision to discontinue the ozarelix BPH program. By discontinuing the ozarelix program, the savings of more than $40 Million we had budgeted for the clinical trials and other related costs will help us advance other programs that have the greatest likelihood of commercial success in providing patients with more effective treatment options. This is part of a concerted effort at streamlining and prioritizing our portfolio."
07:06
SWK Stanley Works misses by $0.06, reports revs in-line; guides FY09 revs above consensus; guides FY10 EPS in-line (53.31 )
Reports Q4 (Dec) earnings of $0.67 per share, $0.06 worse than the First Call consensus of $0.73; revenues fell 10.7% year/year to $969.4 mln vs the $973.7 mln consensus. Co issues upside guidance for FY09, sees FY09 revs growing 2-4% from 2009 levels this calculates to roughly $3.811-3.886 bln vs. $3.73 bln consensus. Co issues in-line guidance for FY10, sees EPS of $3.00-3.25 vs. $3.04 consensus. The co expects free cash flow for 2010 to be approx $300 to $350 mln which assumes a modest improvement in working
capital turns from 2009 year-end levels.
07:06
WTFC Wintrust Fin beats by $0.15 (35.22 )
Reports Q4 (Dec) earnings of $0.90 per share, $0.15 better than the First Call consensus of $0.75. "Wintrust reduced its non-performing loans by 43% during the fourth quarter to a level below where it stood a year ago. Total non-performing loans represent only 1.57% of the total loan portfolio at year-end 2009. During the fourth quarter, we recorded a provision for credit losses of $39 mln and net charge-offs of $35 mln. Additionally, we recognized $5 mln of expenses related to write-downs, valuation adjustments and operating costs on other real estate owned during the fourth quarter. Our allowance for loan losses increased to $98 mln or 1.17% of total loans. Adding our reserve for unfunded lending-related commitments and credit-related discounts on purchased loans brings the Company's total credit reserves to $139 mln or 1.65% of total loans... near-term delinquencies also improved during the quarter as both 60 to 89 day delinquencies and 30 to 59 day delinquencies declined during the quarter. Only $37 mln of the co's loans, representing 0.4% of total loans, are 60 to 89 days past due and still accruing and only $64 mln of the Company's loans, representing 0.8% of total loans, are 30 to 59 days past due and still accruing. While the co's net interest margin for the quarter decreased to 3.10% from 3.25% in the third quarter, positive results from deposit re-pricing and commensurate pricing on lending continue. The decrease in our net interest margin is a by-product of the large amount of liquidity currently residing on our balance sheet, which generates relatively little income. Additionally, net interest margin was impacted by a reduction in the amount of discount recognized into income on the purchased loan portfolio, which resulted from a lower rate of prepayments in the fourth quarter."
07:05</p>
ARLP Alliance Resource beats by $0.04, misses on revs; guides FY10 revs in-line (41.43 )
Reports Q4 (Dec) earnings of $0.70 per share, $0.04 better than the First Call consensus of $0.66; revenues fell 4.1% year/year to $298.2 mln vs the $318.3 mln consensus. Co issues in-line guidance for FY10, sees FY10 revs of $1.47-1.55 bln vs. $1.44 bln consensus. For 2010, ARLP is currently anticipating total capital expenditures in a range of $275.0 - $315.0 mln. The co is currently anticipating 2010 coal production to grow to a range of 29.6 to 30.3 mln tons and coal sales to increase to approximately 30.3 to 31.0 mln tons, of which approximately 95% to 98% is contractually committed and priced. ARLP has also secured sales commitments for approximately 27.4 mln tons, 20.4 mln tons and 19.4 mln tons in 2011, 2012 and 2013, respectively, of which approximately 2.0 mln tons and 5.4 mln tons currently remain open to market pricing in 2012 and 2013, respectively. For 2010, ARLP is also estimating EBITDA in a range of $410.0 to $450.0 mln and net income in a range of $240.0 to $270.0 mln, indicating projected growth of approximately 20% to 32% and 25% to 40%, in EBITDA and net income respectively, compared to 2009.
07:05
USAP Universal Stainless/Alloy beats by $0.08, reports revs in-line (17.12 )
Reports Q4 (Dec) earnings of $0.14 per share, $0.08 better than the First Call consensus of $0.06; revenues fell 53.3% year/year to $26.7 mln vs the $26.7 mln consensus. Co said, "Our profitability improved over the third quarter of 2009 due to higher shipment volumes, cost savings being realized from recent capital projects and process improvements, and improved cycle times. There is widespread belief among our customers that 2010 will be better than 2009, but the level of caution accompanying their optimism is high. Therefore, we currently expect further recovery in market demand to be gradual."
07:02
ROK Rockwell Automation beats by $0.18, beats on revs; guides FY10 EPS above consensus, revs in-line (46.16 )
Reports Q1 (Dec) earnings of $0.54 per share, $0.18 better than the First Call consensus of $0.36; revenues fell 10.2% year/year to $1.07 bln vs the $1.05 bln consensus. Co issues mixed guidance for FY10, sees EPS of $2.00-2.40 vs. $1.74 consensus; sees FY10 revs of $4.4-4.6 bln vs. $4.34 bln consensus. Co said, "Our first quarter performance and continued improvement in the global economy seem to indicate that we are at the early stage of a recovery. However, high unemployment, historically low levels of capacity utilization and a very cautious capital spending outlook create uncertainty as to the shape of the recovery in manufacturing."
07:01
AHGP Alliance Holdings declared a quarterly cash distribution of $0.4525 per unit, up from the $0.4025 per unit distribution (27.65 )
07:00
ICFI ICF International selected for $1.3 bln human resources services ID/IQ (23.02 )
Co announces it was one of 12 firms awarded the highly competitive HRSolutions Studies and Analysis Support contract by the U.S. Department of the Army. Through this indefinite delivery/indefinite quantity contract, ICF may now compete to provide a full range of support to the Army's Human Resources programs and systems, with a focus on business planning and research and evaluation as it relates to these programs. The five-year contract, which began in December 2009, has a total program ceiling of $1.27 billion.
06:51
ACAT Arctic Cat beats on the top and bottom line; reaffirms FY10 rev guidance (9.01 )
Reports Q3 EPS of $0.14 vs the ($0.15) First Call consensus; revs $131.0 mln vs $116.47 mln First Call consensus. Co reaffirms FY10 revs of $425-460 mln vs $446.04 mln First Call consensus. Gross margins increased 550 basis points and 350 basis points year to date "We are successfully rescaling Arctic Cat's business to achieve improved profitability in the current lower-demand environment for recreational products. A key part of our strategy this fiscal year has been to reduce dealer inventories, in order to position the co for future growth when the retail power sports market recovers." Year to date, Arctic Cat's overall dealer inventories are down 19%.
06:18
S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: -3.80.
06:18
Asian Markets
Nikkei...10252.08...-73.20...-0.70%. Hang Seng...20033.07...-76.30...-0.40%.
06:18
European Markets
FTSE...5223.86...-53.00...-1.00%. DAX...5631.25...-37.70...-0.70%.
06:13
FCFS First Cash beats by $0.01, beats on revs; guides FY10 EPS in-line (21.80 )
Reports Q4 (Dec) earnings of $0.44 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.43; revenues rose 25.7% year/year to $111.1 mln vs the $103 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.53-1.59, excluding non-recurring items, vs. $1.59 consensus. Same-store revenue increased by 17% for the quarter and 9% year-to-date, on a constant currency basis, in the co's U.S. and Mexico pawn stores. The co expects continued significant revenue and earnings growth in 2010, especially in Mexico. The majority of 2010 revs will be derived from pawn operations, with only 11-13% of revs expected to be from U.S. short-term loan and credit services operations. In 2010, the co anticipates opening 65-75 new stores, the majority of which will again be in Mexico. The 2010 U.S. store openings will be pawn shops, as the co does not anticipate opening any new U.S. short-term/payday loan stores. "Fourth quarter retail sales increased solidly in the U.S. and were exceptionally strong in Mexico, where they increased by 33%. In addition, sales of scrap jewelry increased significantly during the quarter based on the strength of high transaction volumes and increased gold prices. Growth in pawn service fees continued to reflect strong consumer lending demand in the U.S., where fees were up 23%, and continued expansion into new and developing markets in Mexico, as fees grew by 31%."
06:10
PX Praxair reports EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (78.66 )
Reports Q4 (Dec) earnings of $1.09 per share, in-line with the First Call consensus of $1.09; revenues rose 0.2% year/year to $2.41 bln vs the $2.42 bln consensus. Co issues in-line guidance for FY10, sees EPS of $4.43-4.63, excluding non-recurring items, vs. $4.61 consensus; sees FY10 revs of $10.0 bln vs. $9.96 bln consensus. Sales rose 5% sequentially from the third quarter due to moderately higher volumes, positive currency effects, and higher natural gas cost pass-through. Operating profit in the fourth quarter of $512 million was 4% above adjusted operating profit in the prior year as higher pricing and cost reduction offset the impact of lower volumes. Sequentially, operating profit grew from higher volumes and positive foreign currency effects.
06:09
TEL Tyco Electronics beats by $0.08, beats on revs; guides Q2 EPS and revs above consensus (25.37 )
Reports Q1 (Dec) earnings of $0.47 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.39; revenues rose 6.6% year/year to $2.89 bln vs the $2.79 bln consensus. Co issues upside guidance for Q2, sees EPS of $0.49-0.54, excluding non-recurring items, vs. $0.39 consensus; sees Q2 revs of $2.85-2.95 bln vs. $2.75 bln consensus. Total co orders increased 2 percent sequentially in the first quarter. On a year-over-year basis, orders increased 15 percent. The book-to-bill ratio was 1.02 in the quarter. "The first quarter was a very good start to the year for us. We had another quarter of sequentially improving sales in our Electronic Components markets due to stronger end demand and inventory replenishment in the supply chain. This, coupled with the footprint restructuring we began over two years ago and the aggressive cost actions we took last year, enabled us to improve our adjusted operating margin to 11.5 percent, up from 8.2 percent last quarter. "In the second quarter, we expect the trends we experienced in the first quarter to continue, and overall sales to be similar to first quarter levels. We anticipate that our adjusted operating margin will approach 12 percent in the second quarter."
06:08
RGS Regis beats by $0.02, reports revs in-line (14.99 )
Reports Q2 (Dec) earnings of $0.28 per share, excluding $0.02 benefit benefited from an unplanned actuarial adjustment to prior years' workers' compensation and other insurance claim reserves, $0.02 better than the First Call consensus of $0.26; revenues fell 2.1% year/year to $575.4 mln vs the $577 mln consensus.
06:07
BLK BlackRock beats by $0.29, beats on revs (224.71 )
Reports Q4 (Dec) adjusted earnings of $2.39 per share, $0.29 better than the First Call consensus of $2.10; revenues rose 45.1% year/year to $1.54 bln vs the $1.25 bln consensus. The operating margin, as adjusted, for 4Q09 was 39.7% reflecting revenue growth and continued cost control. The 2009 compensation to revenue ratio was 35%, consistent with 2008 and 2007, excluding integration costs, LTIP and market valuation changes on deferred compensation plans. "BlackRock's performance in 2009 was strong by any measure," commented Laurence D. Fink, Chairman and CEO of BlackRock. "Adjusted earnings per share increased 13%, investment performance was competitive across a broad array of products, and our work with clients was rewarded with $155.7 billion of combined net new business and 48 net new assignments in BlackRock Solutions. During the fourth quarter, we closed the transaction with BGI, adding substantial capabilities and welcoming more than 3,500 new colleagues to the combined organization. Clients have been highly supportive, and we have already won assignments that leverage our broader platform", commented CEO Laurence D. Fink.
06:06
SWWC Southwest Water named Ben Smith interim chief financial officer, succeeding David Stanton, who is no longer with the company. (5.95 )
06:05
WLP WellPoint beats by $0.14, reports revs in-line; guides FY10 EPS near consensus (63.88 )
Reports Q4 (Dec) earnings of $1.16 per share, excluding a $4.79 net benefit from the sale of NextRx, $0.14 better than the First Call consensus of $1.02; revenues fell 2.4% year/year to $15.06 bln vs the $15.13 bln consensus. Co issues guidance for FY10, sees EPS of at least $6.00 vs. $6.11 consensus. Medical enrollment was approximately 33.7 million members at December 31, 2009, a decrease of 1.4 million members, or 3.9 percent, from approximately 35.0 million at December 31, 2008. The decline in membership was most significant in the Local Group business, which experienced a 989,000 member reduction during the year, primarily due to lapses and in-group enrollment losses resulting from the recession and rise in unemployment.
04:26
SII Smith Intl reports EPS in-line, beats on revs (30.56 )
Reports Q4 (Dec) earnings of $0.09 per share, in-line with the First Call consensus of $0.09; revenues fell 35.1% year/year to $1.98 bln vs the $1.92 bln consensus. 4Q09 was primarily influenced by increased drilling activity in the North American market coupled with stable prices for the co's products and services, and by a significant increase in revenue per rig in Latin America and Africa for both M-I SWACO and the Smith Oilfield segments. The improved North American environment contributed to strong revenue growth in the Distribution segment, as well as in the PathFinder and cased-hole wireline service businesses. Although healthy revenue growth for M-I SWACO and Smith Technologies outside North America helped improve overall profitability, margin expansion was hampered by the current level of pricing in the U.S. market.
03:50
LDK LDK Solar signs module supply contract with COU/Oneworld (6.96 )
Co announces that it has signed a contract to supply solar modules to Canada based COU Solar, a subsidiary of Oneworld Energy. Under terms of the agreement, LDK Solar will deliver approx 30 megawatts of solar modules to COU/Oneworld in 2010.
02:49
RKT Rock-Tenn misses by $0.07, misses on revs (46.00 )
Reports Q1 (Dec) earnings of $0.94 per share, excluding non-recurring items, $0.07 worse than the First Call consensus of $1.01; revenues fell 1.7% year/year to $690.8 mln vs the $707.9 mln consensus.
02:41
FSIN Fushi Copperweld prices 6.5 mln share follow-on offering at $8.00/share (8.61 )
02:38
SGMS Scientific Games to sell its Racing and Venue Management businesses for $75 mln (14.59 )
Co announces that it has entered into a definitive agreement to sell its Racing and Venue Management businesses to U.K.-based Sportech Plc, in a transaction valued at approx $75.0 mln.
02:34
SAP SAP AG beats by EUR 0.01, reports revs in-line (46.05 )
Reports Q4 (Dec) earnings of EUR 0.67 per share, excluding non-recurring items, EUR 0.01 better than the First Call consensus of EUR 0.66; revenues fell 8.5% year/year to EUR 3.19 bln vs the EUR 3.18 bln consensus. U.S. GAAP operating margin was 33.1% (2008: 36.6%), a decrease of 3.5%. Non-GAAP operating margin was 35.1% (2008: 39.1%), or 35.0% at constant currencies, a decrease of 4.0% (4.1% at constant currencies). Co FY10 Non-IFRS software and software related service revenue to increase 4.0-8.0% at constant currencies (2009: EUR 8.2 bln). Co expects FY10 non-IFRS operating margin to be in a range of 30-31% at constant currencies (2009: 27.4%).
02:06
KONG KongZhong provides updates on the WVAS operating environment (10.32 )
China Mobile Communication (CHL), one of the telecommunications operator partners of KongZhong, has begun to implement an additional series of measures which are targeted at further improving the user experience for mobile handset embedded services in addition to the introduction of a new SMS code management system. The new measures are in addition to those measures that the co announced in its press release of December 10, 2009, which are currently still in place. As these measures are implemented, the co expects its 1Q10 WVAS revenues (which do not include mobile games, WIS or online game revenues) to decline by approx 20-25% from 3Q09 levels, or $19.0-20.0 mln in the three-month period ending March 31, 2010. These new revenue projections for the co's WVAS business already include the impact from the suspension of WAP billing, previously announced in its press release of December 10, 2009. However, the co doesn't expect its mobile game operations to be significantly impacted, and expects no impact on its online game operations as a result of these new policies.
01:50
On The Wires
Overture Acquisition Corp. (NLX) announces that it has entered into agreements to purchase an aggregate of 5,060,383 ordinary shares sold in its IPO in privately negotiated transactions from shareholders of Overture... Baidu (BIDU) and Rakuten, an e-commerce website in Japan, announce an agreement to jointly invest $50 mln over three years in a joint venture to build a B2B2C online shopping mall for Chinese Internet users... Further to its announcement on 19 January 2010, Kraft Foods (KFT) announces that it has now reduced the number of acceptances required to fulfil the Acceptance Condition of the recommended Final Offer for Cadbury plc (CBY) from 90% to 50% plus one Cadbury share... EpiCept (EPCT) announces that EpiCeptTM NP-1 has been granted orphan drug designation by the FDA for the treatment of post-herpetic neuralgia.
18:41
BXP Boston Prpts misses by $0.02, beats on revs; guides Q1 FFO in-line; guides FY10 FFO in-line (64.72 -0.38)
Reports Q4 (Dec) funds from operations of $1.04 per share, $0.02 worse than the First Call consensus of $1.06; revenues fell 3.2% year/year to $377.9 mln vs the $358.6 mln consensus. Co issues in-line guidance for Q1, sees FFO of $1.02-1.04 vs. $1.03 consensus. Co issues in-line guidance for FY10, sees FFO of $4.10-4.25 vs. $4.10 consensus.
18:30
CPE Callon Petroleum receives $44.7 mln reimbursement from the minerals management service (2.02 +0.01)
Co announced it has received $44.7 mln from the U.S. Department of the Interior's Minerals Management Service to reimburse the co for the overpayment of royalties at its Medusa Field in the Deepwater Region of the Gulf of Mexico.
18:29
BKI Buckeye Tech beats by $0.04, reports revs in-line (10.55 +0.45)
Reports Q2 (Dec) earnings of $0.22 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.18; revenues fell 0.8% year/year to $183.3 mln vs the $181.6 mln consensus.
18:00
CXO Concho Resources announces pricing of common stock offering of $42.75 (42.86 -1.22)
17:51
CCIX Coleman Cable announces pricing of $235 mln senior note offering (4.43 -0.07)
Co announced that it priced a private placement offering of $235 mln aggregate principal amount of senior notes due 2018 (the "Notes"). Interest will accrue at a rate of 9% per annum. The Notes will yield gross proceeds to Coleman Cable of ~$231.7 mln and will be used to refinance Coleman Cable's 9.875% Senior Notes due 2012.
17:50
HTCH Hutchinson beats by $0.02, reports revs in-line (8.99 -0.14)
Reports Q1 (Dec) earnings of $0.09 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.07; revenues fell 9.6% year/year to $108.2 mln vs the $108.3 mln consensus.
17:47
CREL Corel shareholders approved previously announced stock consolidation, final step in the acquisition of Corel by Corel Holdings, L.P. (3.98 +0.01)
17:45
ADPI American Dental announced that ForwardDental has been re-accredited by the Accreditation Association for Ambulatory Health Care (12.65 -0.03)
17:44
HOMB Home Bancshares declares $0.06 per share dividend, the maximum cash dividend allowed for the first quarter of 2010 (24.15 -0.31)
17:43
SXL Sunoco Logistics misses by $0.12, beats on revs (70.30 )
Reports Q4 (Dec) earnings of $1.30 per share, $0.12 worse than the First Call consensus of $1.42; revenues rose 5.6% year/year to $1.66 bln vs the $1.42 bln consensus.
17:43
JOE St. Joe Company announces agreement with CB Richard Ellis Group to market land adjacent to the northwest florida beaches international airport (27.22 -0.49)
Co announced that it has entered into an agreement with CB Richard Ellis Group, Inc., the world's largest commercial real estate services firm, to market for sale or lease more than 1,000 acres (400 hectares) of St. Joe's land adjacent to the new Northwest Florida Beaches International Airport for commercial development. The airport is scheduled to open May 23, 2010.
17:42
HERO Hercules Offshore sees Q4 revs of $173-178 mln vs. $170.0 mln consensus (4.62 -0.12)
Co announced that it is establishing an allowance for doubtful accounts of approximately $29.8 mln as of December 31, 2009, related to a single customer operating one rig in its International Offshore segment. In addition, the results for the fourth quarter will include a non-cash charge of approximately $7.3 mln to fully impair the related deferred mobilization and contract preparation costs. This charge is partially offset by a $2.6 million reduction in previously accrued contract related operating costs that are not expected to be settled if the receivable is not collected. The rig remains under contract, the amount owed to the Company is undisputed by the customer and the Company is continuing to rigorously pursue all commercial and legal avenues for collection of its receivable. However, the Company is establishing this allowance based on, among other factors, its recent determination that the credit risk associated with this customer has deteriorated. As a result of this determination and until such time that the credit risk improves, future dayrate from this customer will no longer meet the revenue recognition criteria due to uncertainty surrounding collectability. Including the impact of the aforementioned items, Hercules Offshore also indicated that it expects fourth quarter revenue to be approximately $173 to $178 million (consensus $170.0 mln) and its operating loss to approximate $43 to $48 million, including approximately $50 million of depreciation and amortization expense.
17:41
STM STMicroelectronics beats by $0.02, reports revs in-line; guides Q1 revs above consensus (8.50 +0.05)
Reports Q4 (Dec) earnings of $0.04 per share, $0.02 better than the First Call consensus of $0.02; revenues rose 13.5% year/year to $2.58 bln vs the $2.56 bln consensus. Co issues upside guidance for Q1, sees Q1 revs down 7-13%, which equates to ~$2.24-2.39 bln vs. $2.23 bln consensus.
17:40
EGI Entree Gold received the first National Instrument 43-101 compliant resource estimate (2.76 -0.06)
Co has received the first National Instrument 43-101 compliant resource estimate prepared for the Ann Mason copper- molybdenum deposit located near Yerington, Nevada. Ann Mason is estimated to contain an inferred resource of 810.4 million metric tonnes grading 0.40% copper, using a 0.30% copper cut-off (see Table 1 below). Accompanying molybdenum is estimated at 165.9 million metric tonnes at a grade of 0.01% molybdenum. Based on these figures, the Ann Mason deposit contains approximately 7.1 billion pounds of copper.
17:40
BPZ BPZ Energy announces the following update to its operations in offshore Block Z-1 in northwest Peru (7.03 -0.16)
Co announces the following update to its operations in offshore Block Z-1 in northwest Peru. On January 4, 2010, the Company reported the completion of the 19D well with a sustained initial production rate (IPR) of ~1,700 barrels of oil per day (bopd). The well has continued to produce consistent with its initial IPR, with no apparent increase in its gas-oil-ratio and no formation water reported to date. The next Corvina well, the 17D, is underway and targeting a Proved Undeveloped (PUD) location and the Company expects to complete the well later in the first quarter. The Company has applied for an Extended Well Testing (EWT) permit in Corvina for the first five wells, not including the 19D and 17D wells.
17:31
IVAN Ivanhoe Energy raises Cdn$125 mln through private placement (2.92 )
VAN announced that the coy has raised Cdn$125 million through the private placement of Special Warrants that was announced on January 13, 2010. The issue was increased from the original announcement of up to Cdn$100 million due to strong interest from institutional investors, including numerous top-tier North American institutions and a strategic investment from a significant sovereign wealth fund.
17:31
USGS reports 5.1 magnitude quake in Fiji region
17:26
INDXCH Standard & Poorâ??s Announces Changes to U.S. Indices
Berkshire Hathaway Inc. (BRK.B) will replace Burlington Northern Santa Fe (BNI) in the S&P 100 and S&P 500 indices on a date to be announced. Burlington Northern Santa Fe is being acquired by Berkshire Hathaway in a deal expected to close next month, pending final approvals.
17:18
PARL Parlux appoints New Chairman and CEO; co says larger than expected product returns have reduced Q3 sales to $50 mln from previously announced $52 mln (1.82 -0.03)
Co announced that Mr. Neil J. Katz has resigned from his position as Chairman and Chief Executive Officer of the Company due to philosophical differences regarding the future direction of the co. The Board announced that Mr. Frederick E. Purches, founder of the Company, and previous Chairman, has assumed the position of Chairman and Chief Executive Officer. The co also anticipates reporting its earnings for the three and nine months ended December 31, 2009 on February 3rd, 2010. The co notes larger than expected product returns from U.S. department store customers have reduced the co's net sales for Q3 ended December 31, 2009 to ~$50 mln from the previously announced estimate of $52 mln, and it expects to report a net loss for that quarter of ~$5 mln, subject to any additional adjustments that might be required as part of the co's quarterly review process.
17:16
PMTC Parametric beats by $0.10, beats on revs; guides Q2 EPS in-line, revs above consensus; guides FY10 EPS above consensus, revs above consensus (15.73 -0.37)
Reports Q1 (Dec) earnings of $0.27 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.17; revenues rose 7.5% year/year to $258.4 mln vs the $233.2 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.14-0.20, excluding non-recurring items, vs. $0.20 consensus; sees Q2 revs of $235-245 mln vs. $234.34 mln consensus. Co issues upside guidance for FY10, sees EPS of $1.00, excluding non-recurring items, vs. $0.95 consensus; sees FY10 revs of $1.015 bln vs. $976.69 mln consensus.
16:59
LFL LAN Airlines Reports Q4 net income of $109.8 mln (16.02 -0.23)
LAN's Q4 2009 results reflect a strong recovery in both cargo and passenger operations. During the period, LAN reported net income of $109.8 mln, a 17.6% increase compared to net income of US$93.3 million reported in Q4 2008. Total revenues for Q4 2009 reached $1,070.7 mln compared to US$1,114.9 million in Q4 2008 due to a 1.6% decrease in passenger revenues and a 10.7% decrease in cargo revenues. The 4.0% decline in consolidated revenues was partially offset by a 2.3% decrease in operating expenses, driven mainly by lower fuel costs. Passenger and cargo revenues accounted for 71% and 26% of total revenues, respectively, during the fourth quarter 2009.
16:59
CACI CACI receives favorable court decision (4.61 +0.21)
Co announced that the United States Court of Appeals for the District of Columbia Circuit has denied a petition for rehearing in two lawsuits alleging detainee abuse at Abu Ghraib prison in Iraq filed against CACI in 2004. On September 11, 2009, the U.S. Court of Appeals for the D.C. Circuit had ruled in CACI's favor in the two lawsuits. The Iraqi plaintiffs then asked the court to rehear the appeals, which the court declined to do.
16:51
BUSE First Busey Corp reports Q4 results (3.59 -0.14)
Reports Q4 earnings of $(0.49) per share vs $(0.10) First Call consensus; revenues grew 11% year/year to $45.95 mln vs the $43.7 mln consensus.
16:45
WSM Williams-Sonoma announces that Howard Lester, Chairman and CEO, will retire in May 2010; Reaffirms Q4 and FY09 EPS guidance (20.69 +0.78)
Co announces that Howard Lester will retire from his position as Chairman and CEO and as a member of the Board at the May 2010 annual shareholders' meeting. He will continue, however, to assist the company in a consulting and advisory role through December 2012 and have the title of Chairman Emeritus. Co is also reiterating its Jan. 14, 2010 published GAAP and non-GAAP EPS guidance ranges for the fourth quarter ($0.69-$0.74) and fiscal year 2009 ($0.76-$0.81), inclusive of an approximate $0.03 per diluted share charge associated with a restricted stock unit award to Mr. Lester as described in today's Form 8-K filing.
16:43
FFBC First Financial commenced a public offering of approximately $85 million of common equity (14.81 -0.77) -Update-
16:38
PRE PartnerRe expects to write and bind approximately $2.6 billion of Non-Life premium (72.94 -0.30)
Co announced that during the January 1, 2010 treaty renewal season it expects to write and bind ~$2.6 bln of Non-Life premium. This includes $440 mln in premium from PARIS RE, whose acquisition was completed in December 2009. On a constant foreign exchange basis, the January 1, 2010 total expected premium for the combined Company of $2.594 bln represents a 20% increase over the expiring premium of PartnerRe's original January 1, 2009 portfolio of $2.159 bln. Approximately 60% percent of the total annual Non-Life treaty business of the combined Company renews on January 1. The remainder is comprised of treaty business that renews at other times during the year, in addition to approximately $500 mln of combined facultative business that is underwritten throughout the year. Of the total expected premium of $2.6 bln, $299 mln is still in process. Approximately 88% of the in process business is U.S. agriculture, which traditionally renews later in the first quarter.
16:35
QLGC QLogic beats by $0.02, beats on revs (18.89 -0.43)
Reports Q3 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.29; revenues fell 8.9% year/year to $149.1 mln vs the $147.3 mln consensus.
16:34
CASB Cascade Financial Corp reports 4Q09 net income per share of $0.04, ex-items, vs. ($0.18) consensus; interest income decreased 11% y/y to $20 mln (2.75 -0.05)
Co reports nonperforming assets totaled 7.33% of total assets, compared to 8.05% three months earlier, a reduction of $19.6 mln. Allowance for loan losses increased $1.2 mln with provision for loan losses of $8.0 mln and net charge-offs of $6.4 mln in the quarter. The allowance for loan losses to total loans increased to 2.16%, up from 1.31% a year ago. Cascade's net interest margin was 2.79% for 4Q09, compared to 3.03% in the immediate prior quarter and 3.01% for the fourth quarter a year ago.
16:31
ROL Rollins increase qtrly dividend by 28.6% to $0.09 (18.38 -0.21)
16:31
DDR Developers Diversified Rlty names David J. Oakes Interim Chief Financial Officer (8.51 -0.22)
Co announces that William H. Schafer and the Company have mutually agreed that Mr. Schafer would conclude his employment effective February 15, 2010. The Company also announced it will name David J. Oakes as interim chief financial officer and a search for a permanent replacement is ongoing. Co notes that Mr. Schafer's departure was not related to the Company's financial or operating results or to any disagreements or concerns regarding the Company's financial or reporting practices.
16:30
G Genpact announces extension of General Electric Master Services agreement through 2016 (14.10 +0.09)
The co announces that General Electric (GE) has extended its master services agreement with Genpact by two years, through the end of 2016. GE's minimum volume commitment is also extended through the term of the agreement. Genpact will continue to have the first opportunity to provide new business process management services to GE.
16:29
YHOO After trading down as much as $0.50 after earnings, YHOO is back in positive territory (15.99 ) -Update- -Technical-
Afterhours high is $16.37. Last trade at $16.13
16:28
CNI Canadian Natl Rail misses by C$0.01, misses on revs (52.24 -0.01)
Reports Q4 (Dec) earnings of C$0.90 per share, ex-a C$0.12 after tax gain from a line-sale and a CAD0.21 income tax recovery, C$0.01 worse than the First Call consensus of C$0.91; revenues fell 14.5% year/year to C$1.88 bln vs the C$1.96 bln consensus. Q4 YoY growth was in coal, automotive, grain and fertilizers, and petroleum and chemicals volumes as the economic recovery began taking hold. Intermodal volumes declined 3%, metals and mineral carloadings were down by 2%, and forest products markets remain depressed. Fourth-quarter operating ratio was 65.3%, compared with 62.7% for the same quarter of 2008. "CN believes there will be gradual economic recovery in 2010. A number of our markets appear to be improving, and we expect to take advantage of a number of opportunities this year. We are still facing some headwinds, but are aiming for double-digit growth in diluted earnings per share (EPS) in 2010 (consensus calls for 17.6% EPS growth in 2010), with 2010 free cash flow in the order of C$700 million." One of the headwinds CN will face in 2010 is the Canadian-U.S. dollar exchange rate, which averaged $C0.88 in 2009 but is expected to be substantially higher in 2010. In addition, CN anticipates increased expenses in 2010, including higher depreciation expense and substantially lower credits for casualty expense. "Given the anticipated economic recovery, CN's strong balance sheet and its ability to produce solid cash flow, I'm pleased that the co's Board of Directors has approved a seven per cent increase in CN's quarterly common-share dividend, and a new share repurchase program to buy-back up to 15 million CN common shares."
16:25
TWPG Thomas Weisel reports Q4 results, beats on revs (4.06 +0.27)
Reports Q4 (Dec) loss of $0.39 per share, adjusting for certain non-cash events related to its initial public offering and amortization of tangible assets acquired in the purchase of Westwind Partners, may not compare to the First Call consensus of ($0.20); revenues rose 90.8% year/year to $60.1 mln vs the $55.6 mln consensus. "Our fourth quarter revenues were higher than any quarter in the last two years and reflect a strong rebound in investment banking revenues. Our broad sector exposure contributed to our results as over 65% of total investment banking revenues in 2009 were derived from the mining and technology sectors, which continue to remain active. Additionally, as we look forward, the IPO calendar continues to build and the number of mandates we've received has increased significantly, which should positively improve results... Throughout the last two years, we have taken the necessary steps through opportunistic hires and significant expense reductions to position the firm for future profitability. With the capital markets environment improving and our focus on top-line growth, we see this period as an inflection point in our business."
16:25
MCK McKesson reports EPS in-line, misses on revs; raises FY10 EPS range again (62.35 +0.91)
Reports Q3 (Dec) earnings of $1.19 per share, in-line with the First Call consensus of $1.19; revenues rose 4.4% year/year to $28.3 mln vs the $27669 mln consensus. Co raises its guidance range for FY10, now sees EPS of $4.55-4.70 (vs. $4.55 consensus), up from its previous range of $4.45-4.60.
16:24
ALTR Altera trading almost a point higher after earnings on decent volume, testing the recent highs at $22.25 (21.19 ) -Update- -Technical-
Last trade at $22.06
16:24
ITI Iteris Holdings reports Q3 results (1.40 +0.00)
Reports Q3(Dec) earnings of $0.02, in-line with the single analyst estimate of $0.02. Total net sales and contract revenues declined 17.5% year/year to $13.6 mln vs $14.7 mln single analyst estimate. Gross margins increased to 40.8% in the current fiscal quarter compared to 39.5% reported in the same quarter of the prior fiscal year. The increase in gross margins was primarily a result of a more favorable sales mix of Roadway Sensor products in terms of geography as well as a slight increase in Transportation Systems consulting gross margins as a result of contract mix.
16:21
ALTR Altera beats by $0.05, beats on revs; guides Q1 revs above consensus (21.19 -0.14)
Reports Q4 (Dec) earnings of $0.34 per share, $0.05 better than the First Call consensus of $0.29; revenues rose 16.1% year/year to $365 mln vs the $334.9 mln consensus. Co issues upside guidance for Q1, sees Q1 sequential revs growth of 5-10%, which equates to ~$383.3-401.50 mln vs. $338.54 mln consensus. Co said, "The Q4 produced extraordinary growth driven by customer program ramps and better end demand across all of our markets. Our new products were the growth leaders in a quarter that saw sequential improvements across all product and market segment categories. We believe that in 2010 our 40-nm product leadership will create an additional growth driver for the co as customers shift from the prototype stage to production-based demand."
16:19
ELY Callaway Golf beats by $0.01, beats on revs; guides FY10 EPS in-line, revs above consensus (7.98 -0.15)
Reports Q4 (Dec) loss of $0.27 per share, $0.01 better than the First Call consensus of ($0.28); revenues rose 8.8% year/year to $186 mln vs the $171.5 mln consensus. Co issues guidance for FY10, sees EPS of $0.25-0.35 vs. $0.31 consensus; sees FY10 revs of $990-$1050 mln vs. $980.08 mln consensus. Co says that sales will improve to that range due to improved economic and market conditions in addition to favorable foreign currency exchange rates compared to 2009. Gross margins for the year are estimated to improve to a range of approximately 42% to 44%, due to a strong product offering and anticipated lower discounting activity at retail. Operating expenses for the year are estimated to be approximately $375 - $405 million compared to $374 million in 2009. "We are cautiously optimistic that the economy and the golf industry will begin to recover in 2010. Factors contributing to our optimistic outlook include positive customer and media feedback on our 2010 product line, conservative inventory levels at retail, improving economic and foreign currency trends, and an anticipated decrease in discounting in the marketplace. While it will take more than 2010 for the golf industry to fully recover, we believe this year will be a good step toward that full recovery."
16:16
SMCI Super Micro Computer reports Q2 EPS of $0.22 vs $0.17 consensus, revs rose 41.5% to $182 mln vs $160.3 mln consensus (11.61 -0.20)
Non-GAAP gross margin for the second quarter was 16.7% compared to 18.9% in the same period a year ago. Co sees Q3 EPS of $0.18-0.21 vs $0.17 consensus, revs of $175-185 mln vs $160.17 mln consensus.
16:16
CTAS Cintas approved $0.48 per share annual dividend, an increase over last year's $0.47 per share (25.02 -0.19)
16:16
CNO Conseco completes reinsurance transaction (4.83 -0.10)
Co announced that it received the necessary regulatory approvals and completed the previously announced transaction under which its Bankers Life and Casualty Company subsidiary coinsured, with an effective date of October 1, 2009, about 234,000 life insurance policies with Wilton Reassurance Company. At closing, Wilton Re paid Bankers Life a ceding commission of approximately $44 million and 50% coinsured these policies, which Bankers Life will continue to service and administer. As previously announced, Conseco expects to record (as a result of the transaction) an increase to its deferred tax valuation allowance of approximately $18 million in the fourth quarter of 2009.
16:16
ZAGG ZAGG sees FY09 EPS of $0.15-0.22 vs $0.20 First Call consensus; sees revs of $37-38 mln vs $38.24 mln First Call consensus (2.38 -0.20)
The co announces that it expects to report revenues of approximately $37.0 - $38.0 mln for the year ended December 31, 2009. This revision is related to its most recent guidance of $38 mln on November 12, 2009. These adjustments reflect a delay in the release of ZAGGskins, ZAGGbuds, and other accessories, as well as the change in product and channel mix as a percentage of total sales for the quarter. The Company expects full year 2009 earnings per share to be between $0.15 - $0.17 versus prior guidance of $0.22. The Company attributes the earnings revision to lower margins attributed to the increase in sales from the Company's indirect distribution channel. In addition, the Company expects to incur charges related to inventory due to packaging revisions, reserves against accounts receivable and reserves against notes receivable. "Taking these charges in the current quarter will allow management to establish expectations at a reasonable level, and improve our visibility for future earnings growth," said President and CEO Robert G. Pedersen II. "CES (Consumer Electronics Show) was a great platform for the launch of many new lines and expanding the distribution of our existing lines. We remain optimistic about our growth prospects and expect 2010 to be a record year for the company both in revenues and earnings."
16:15
CCUR Concurrent beats by $0.14, beats on revs (3.89 0.00)
Reports Q2 (Dec) earnings of $0.01 per share, $0.14 better than the First Call consensus of ($0.13); revenues fell 17.1% year/year to $15 mln vs the $12.5 mln consensus. Gross margins for the second quarter of fiscal year 2010 were 62%, compared to 59% in the prior year's second quarter.
16:14
MRTN Marten Transport beats by $0.02, reports revs in-line (16.89 -0.18)
Reports Q4 (Dec) earnings of $0.19 per share, $0.02 better than the First Call consensus of $0.17; operating revenues fell 8.3% year/year to $128.7 mln vs the $127.6 mln consensus. Marten's operating ratio (operating expenses as a percentage of operating revenue) was 93.7% for the fourth quarter of 2009 compared with 92.7% for the same quarter of 2008 and improved to 94.2% for 2009 from 94.6% for 2008.
16:13
INFN Infinera beats by $0.01, beats on revs (7.80 +0.02)
Reports Q4 (Dec) loss of $0.07 per share, excluding non-recurring items, $0.01 better than the First Call consensus of ($0.08); revenues fell 9.2% year/year to $90.2 mln vs the $87.9 mln consensus. "We are pleased with the continuation of our sequential growth in revenues and gross margins in the fourth quarter as well as our record bookings for the quarter and year, reflecting our success in expanding our customer footprint throughout fiscal year 2009. In the fourth quarter, we invoiced our highest level of tributary adapter modules (TAMs) in six quarters and saw continued strength in our common equipment sales. We are seeing good opportunities with both current and prospective customers across all served markets. The market continues to embrace Infinera's disruptive PIC-based approach of providing the best, most cost-effective and most flexible optical networks to address their bandwidth needs -- both with our existing products and the new products on our roadmap."
16:12
SANM Sanmina-SCI beats by $0.10, beats on revs; guides Q2 EPS above consensus, revs above consensus (12.30 +0.65)
Reports Q1 (Dec) earnings of $0.23 per share, $0.10 better than the First Call consensus of $0.13; revenues rose 9.2% year/year to $1.48 bln vs the $1.4 bln consensus. Co issues upside guidance for Q2, sees EPS of $0.22-$0.27, excluding non-recurring items, vs. $0.09 consensus; sees Q2 revs of $1.45 bln-$1.55 bln vs. $1.36 bln consensus.
16:10
ROCM Rochester Medical reports Q1 net income of $0.01 vs. $0.02 two analyst estimate; revenue increased 21% y/y to $10.2 mln vs $10 mln estimate (12.12 -0.18)
16:10
ESRX Express Scripts to spin-off Rx outreach to create nonprofit offering prescription medicines (85.20 -0.61)
Co announced it will create a new independent, nonprofit charitable organization to improve access to prescription medicines for low-income, uninsured Americans and working families. Express Scripts will donate Rx Outreach, a for-profit business unit, to establish the new organization, which will partner with healthcare professionals and other entities committed to serving those in need.
16:09
VPFG ViewPoint Financial adopts plan to reorganize and conduct 'second-step' stock offering (13.62 -0.19)
Co announces it has adopted a plan to reorganize from a two-tier mutual holding company to a full stock holding company and will undertake a "second-step" offering of additional shares of common stock. The conversion and offering--subject to regulatory, shareholder and depositor approval--is expected to be completed this summer.
16:09
NATI Natl Instruments reports Q4 (Dec) results, beats on revs; guides Q1 EPS above consensus, revs above consensus; declares quarterly dividend (28.85 +0.47)
Reports Q4 (Dec) earnings of $0.12 per share, which includes a non-cash charge of $0.28 per share and may not be comparable to the First Call consensus of $0.28; revenues fell 0.3% year/year (up 22% q/q) to $201.6 mln vs the $197.3 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.30-0.38 vs. $0.20 consensus; sees Q1 revs of $192-202 mln vs. $184.05 mln consensus. Co also declared a dividend of $0.13 per share.
16:08
GILD Gilead Sciences beats by $0.08, beats on revs (44.87 -0.84)
Reports Q4 (Dec) earnings of $0.93 per share, $0.08 better than the First Call consensus of $0.85; revenues rose 42.1% year/year to $2.03 bln vs the $1.93 bln consensus. Q4 Drug Sales and First Call Estimates: Atripla $697.8 mln vs. 646.4 mln consensus; Truvada $670.7 mln vs. $644.5 mln consensus; Viread $178.3 mln vs. $161.9 mln First Call Consensus; Amibsome $84.0 mln vs. $75.7 mln consensus.
16:08
EVK Ever-Glory International to restate its financial statements (4.21 -0.29)
Co decided to restate its financial statements. Co did not properly calculate the derivative effect of certain warrants issued in connection with a 2007 private placement. Co intends to file an amendment to the Form 10Q for the period ended September 30, 2009 to make the necessary changes related to the Company's treatment of the Warrants. The quantitative impact of the adjustment would result in a decrease of net income and basic earnings per share from approximately $1.9 million to $1.8 million and $0.14 to $0.13, respectively for the three months ended September 30, 2009, and $4.7 million to $4.0 million, and $0.35 to $0.30, respectively for the nine months ended September 30, 2009. The issuance of the Warrants had no quantitative impact on the previously issued statements of cash flows or any discussion on liquidity in the Management's Discussion and Analysis section as this was a non-cash item. The Company believes it is important to note that the adjustment does not relate to the Company's revenues from operations.
16:08
CSGS CSG Systems beats by $0.01, reports revs in-line; guides FY10 EPS above consensus, revs in-line (17.75 +0.00)
Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.39; revenues rose 3.4% year/year to $127.8 mln vs the $126.5 mln consensus. Co issues mixed guidance for FY10, sees EPS of $2.05-2.13, excluding non-recurring items, vs. $1.70 consensus; sees FY10 revs of $520-530 mln vs. $524.18 mln consensus.
16:07
PLCM Polycom beats by $0.02, beats on revs (24.17 +0.48)
Reports Q4 (Dec) earnings of $0.33 per share, $0.02 better than the First Call consensus of $0.31; revenues rose 1.9% year/year to $268 mln vs the $256.4 mln consensus. Co states, "Strong customer demand, supported by our investment plan, fueled our revenue growth and drove record order backlog and deferred revenues. As a result of this operating performance and working capital management, we generated a record positive operating cash flow of $68 million, representing Polycom's 48th consecutive quarter of positive operating cash flow. We exited the quarter with $467 million in cash and investments and no debt."
16:07
RFMD RF Micro Device beats by $0.02, reports revs in-line (4.27 +0.06)
Reports Q3 (Dec) earnings of $0.14 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.12; revenues rose 23.9% year/year to $250.3 mln vs the $251.6 mln consensus. Non-GAAP gross margin increased sequentially from 38.1% to 38.4%. RFMD is enjoying strength in CPG, supported by strong calendar 2010 handset unit forecasts, expanded participation across customer programs and increasing adoption of connected devices, including smart phones and 3G devices. In the diversified markets served by MPG, RFMD continues to see positive demand trends supported by increasing customer order activity. Co sees CPG quarterly revenue is expected to be better than normal seasonality in the March quarter. In MPG, quarterly revenue is expected to be flat to up sequentially in the March quarter. Non-GAAP operating margin for the fiscal 2010 full-year period is expected to approach RFMD's annual target of 15%. RFMD expects strong free cash flow, in-line with recent quarterly performances. "For fiscal 2011, we expect a contribution margin of approximately 60% on each incremental dollar of revenue, and we believe we're on track to deliver continued revenue and earnings growth in fiscal 2011 and beyond."
16:07
TPX Tempur-Pedic beats by $0.01, reports revs in-line; reaffirms FY10 EPS guidance, revs guidance (25.36 +0.21)
Reports Q4 (Dec) earnings of $0.38 per share, $0.01 better than the First Call consensus of $0.37; revenues rose 29.4% year/year to $244.8 mln vs the $243.2 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.40-1.50 vs. $1.48 consensus; sees FY10 revs of $950-970 mln vs. $965.99 mln consensus.
16:06
KEYN Keynote Systems beats by $0.06, beats on revs; guides Q2 EPS below consensus, revs below consensus (10.35 -0.07)
Reports Q1 (Dec) earnings of $0.17 per share, $0.06 better than the First Call consensus of $0.11; revenues rose 0.5% year/year to $20.7 mln vs the $19.4 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.09-0.12 vs. $0.14 consensus; sees Q2 revs of $18.9-19.4 vs. $19.80 mln consensus.
16:06
YHOO Yahoo! trading down about $0.30 after reporting earnings (15.99 ) -Technical-
Stock initially spiked up about $0.40 but has since reversed. $15.70 was the lows for the day. Last trade at $15.72
16:06
NMM Navios Maritime Partners declared a cash distribution of $0.41 per unit, up from $0.405 per unit (17.14 +0.16)
16:05
CNI Canadian Natl Rail announces new share repurchase program and $0.07 in quarterly cash dividend (52.18 -0.07)
CNI announced that its Board has authorized a normal-course-issuer bid to purchase, for cancellation, up to 15 mln, or 3.2% of the co's common shares not held by insiders on Jan. 18, 2010. CNI also announced today that its Board of Directors has approved a seven per cent increase in the Company's quarterly cash dividend. A quarterly dividend of 27 cents (C$0.27)
16:04
WMS WMS Industries beats by $0.01, reports revs in-line; guides Q3 revs below consensus; raises FY10 rev guidance above consensus (41.10 +0.04)
Reports Q2 (Dec) earnings of $0.44 per share, $0.01 better than the First Call consensus of $0.43; revenues rose 5.9% year/year to $188.9 mln vs the $187 mln consensus. Co issues downside guidance for Q3, sees Q3 revs of $195-205 mln vs. $205.14 mln consensus. Co issues upside guidance for FY10, sees FY10 revs of $765-785 mln vs. $774.94 mln consensus. WMS expects higher revenue growth in the second half of fiscal 2010, compared with the first half due to continued strength in its gaming operations business; favorable customer response to new products, including the new Bluebird xD and Helios gaming cabinets that are expected to be commercially launched in the coming months; ongoing customer demand for both new gaming machines and game conversion kit sales, and the anticipated timing of entering new markets and the launch of new products.
16:04
DV DeVry beats by $0.17, beats on revs (56.17 -0.16)
Reports Q2 (Dec) earnings of $1.00 per share, $0.17 better than the First Call consensus of $0.83; revenues rose 28.0% year/year to $473 mln vs the $465.1 mln consensus. As previously announced in December 2009, DeVry University new undergraduate enrollment increased 19.4% and total undergraduate enrollment rose 22.7%. At Keller Graduate School of Management, the number of coursetakers in November 2009 increased 16.5% to an all-time record of more than 20,000 coursetakers. DeVry University's strong results and execution continue to position it well for the remainder of fiscal 2010. DeVry University continues to make strategic investments in its career services and financial services operations to assist students in achieving their career goals. "At a time when state budget cuts and shrinking endowments are making it difficult for colleges and universities to meet the increasing demand for quality education in this country, the private sector is playing an important role in helping to educate our country's workforce and ensuring that we remain competitive in the global marketplace... We are proud to be a part of the solution and are committed to helping our students meet their career aspirations.... We are pleased with our continued solid performance and acknowledge the significant contributions of our 17,000 colleagues around the world in executing our growth and diversification strategies... As we enter the new calendar year, our primary focus will remain on achieving strong student outcomes. We will continue to put our students first by prudently investing in high quality educational programs and services to help them succeed in their chosen careers."
16:03
PLT Plantronics beats by $0.09, beats on revs; guides Q4 EPS above consensus, revs above consensus (25.18 +0.23)
Reports Q3 (Dec) earnings of $0.50 per share, $0.09 better than the First Call consensus of $0.41; revenues rose 8.7% year/year to $165.9 mln vs the $158.4 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.40-0.44 vs. $0.37 consensus; sees Q4 revs of $150-155 mln vs. $146.70 mln consensus. Co sees non-GAAP operating income of $27 million to $30 million.
16:03
CLMS Calamos Asset beats by $0.03, reports revs in-line (12.10 )
Reports Q4 (Dec) earnings of $0.23 per share, $0.03 better than the First Call consensus of $0.20; revenues rose 21.5% year/year to $81.3 mln vs the $82 mln consensus. Assets under management as of December 31, 2009 were $32.7 billion, representing an increase of $2.2 billion, or 7 percent, from the previous quarter end. The increase was comprised of $1.7 billion in market appreciation and net purchases of $0.5 billion. Average assets under management were $31.6 billion during the fourth quarter of 2009, compared to $25.3 billion for the same period one year ago.
16:03
IDTI Integrated Device beats by $0.01, beats on revs (6.45 +0.00)
Reports Q3 (Dec) earnings of $0.10 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.09; revenues fell 14.7% year/year but rose 2.1% sequentially to $142.5 mln vs the $140.5 mln consensus.
16:02
NAL New Alliance Bcshrs reports EPS in-line (11.69 -0.09)
Reports Q4 (Dec) earnings of $0.12 per share, in-line with the First Call consensus of $0.12. Net interest margin continued an upward trend throughout 2009 increasing to 2.82% from 2.71% for the linked quarter, and up from 2.59% at the end of 2008, the highest margin in over three years. The main driver of the margin increase was the significant reduction in deposit and borrowing costs as well as the steady decrease in borrowings each quarter. The provision for loan losses was $3.5 million for the fourth quarter of 2009, decreasing from $3.8 million for the prior year quarter and from $5.4 million for the linked quarter due primarily to improvement in net charge-offs and a lower reserve requirement for impaired loans at December 31, 2009. Allowance for loan losses to total loans was 1.10% at the end of 2009 compared to 1.01% for the prior year. Nonperforming assets to total assets were 0.64% compared to 0.49% for the same period in 2008. The tangible common equity ratio and Tier 1 risk-based capital ratio were 11.08% and 19.92%, respectively, and total shareholders' equity was $1.43 billion at December 31, 2009.
16:02
SYK Stryker reports EPS in-line, beats on revs; guides FY10 EPS below consensus (54.58 )
Reports Q4 (Dec) earnings of $0.82 per share, excluding non-recurring items, in-line with the First Call consensus of $0.82; revenues rose 6.7% year/year to $1.83 bln vs the $1.81 bln consensus. Co issues downside guidance for FY10, sees EPS of $3.20-3.30 vs. $3.28 consensus. The financial forecast for 2010 includes a constant currency net sales increase of 5% to 8% as a result of growth in shipments of Orthopaedic Implants and MedSurg Equipment. If foreign currency exchange rates hold near current levels, the Company anticipates net sales will be favorably impacted by approximately 4% to 5% in the first quarter of 2010 and by approximately 1.5% to 2.5% for the full year of 2010.
16:02
HTWR HeartWare announced public offering of 1,500,000 shares of its common stock (34.71 -0.46)
16:02
MOH Molina Healthcare guides FY10 EPS of $1.50 vs $1.61 First Call Consensus (22.26 +0.01)
Co issues downside guidance, sees FY10 EPS of $1.50 vs. $1.61 First Call consensus. Co also guides for FY10 premium revenue of $3.9 bln, net income of $39 mln, and investment income of $9 mln. Co states that its guidance does not include the dilutive impact it expects in fiscal year 2010 from the acquisition of the Unisys Health Information Management business, which is expected to close in the first half of 2010.
16:02
MOLX Molex beats by $0.02, beats on revs; guides Q3 EPS above consensus, revs above consensus (20.89 +0.07)
Reports Q2 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.22; revenues rose 9.4% year/year to $729.6 mln vs the $709.2 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.22-0.26, excluding non-recurring items, vs. $0.19 consensus; sees Q3 revs of $715-735 mln vs. $691.38 mln consensus.
16:01
KTCC Key Tronic reports Q2 revs of $44.8 mln vs. $47.0 mln a year ago; EPS of $0.17 vs. $0.01 a year ago (3.95 +0.09)
For the third quarter of fiscal 2010, the Company expects to report both sequential and year-over-year growth, with revenue in the range of $44 million to $47 million, and earnings in the range of $0.15 to $0.20 per share. The Company also expects to see continued sequential growth in the fourth quarter of fiscal 2010.
16:00
XTEX Crosstex Energy announces $700 million private placement of senior notes due 2018 (9.20 -0.22)
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