Briefing.com: Hourly In Play (R) – 12:00 ET

Aug 31, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 31-Aug-10 12:00 ET

11:55

SPY S&P +5.9 joins Dow +61 at new session high -- Nasdaq +5.6 hovering just under the morning rebound high -Update- -Technical-

62% retracments of the Fri-Tues declines are at 1055 S&P and 10076 Dow.

11:35

COMDX Crude oil drops to its lowest levels of the morning; now down $1.18 to $73.52

11:26

SPY Fractional new session high for Dow +42 but S&P +3.9 has yet to confirm -- Nasdaq +1.3 and technology currently lagging -Update- -Technical-

11:17

ARG Airgas provides update on SAP implementation; annualized incremental benefits of up to $125 mln in operating income expected upon full implementation (66.03 -0.35)

Co provided an update regarding the value represented by the ongoing implementation of its highly-customized SAP system, including a quantification of the economic benefits expected to be achieved in the key areas of sales growth, price management, and administrative and operating efficiencies. Upon full implementation, Airgas expects these areas alone to yield an aggregate of $75 to $125 million in incremental operating income on an annual run-rate basis.

11:15

TECHX Relative Sector Weakness in Technology -Update- -Technical-

The indices have slipped a bit in recent trade (S&P still holding above 1048 support see 11:02, 10:30 updates) with relative weakness on this move focused in Technology (Semi SMH, Networking, Disk Drive). Also underperforming are Retail XRT, Oil Service OIH, Airline FAA.

11:02

SPY S&P 500 holds at intraday support noted earlier -Update- -Technical-

Mentioned intraday support for the index at 1048 in the 10:30 update and we did see a test and hold at 10:40 (hit 1048.96) with a push back toward the high (1053.84) in recent action. An initial resistance above is at 1055/1056.

10:42

LGF Lions Gate Entertainment Board of Directors to review the Icahn Group's revised unsolicited tender offer and will make recommendation to shareholders promptly (7.32 +0.83) -Update-

Co confirms that it has received a revised unsolicited tender offer from Carl Icahn and certain of his affiliated entities to acquire up to all of Lionsgate's outstanding common shares for U.S.$7.50 per share in cash. Consistent with its fiduciary duties and in consultation with its financial and legal advisors, Lionsgate's Board of Directors will review Mr. Icahn's revised offer and will make its recommendation to shareholders promptly. The Board of Directors' recommendation will be included in an amended Solicitation/Recommendation Statement filing on a Schedule 14D-9.

10:40

XME Global, sector, & commodity ETF money flows- Metals & Mining space (XME, GDX) leads all sectors through the 1st hour of trade; Natural gas (UNG) under pressure -Technical-

Actively Traded Leading Global, Regional, & Domestic Sector ETFs:

metals & mining- XME +2.75%, GDXJ +2.0%, GDX +1.75%, Vietnam- VNM +2.25%, Thailand- THD +2.25%, sugar- SGG +2.0%, steel- SLX +1.75%, coal- KOL +1.75%, iShares Italy- EWI +1.75%, solar power- TAN +1.75%, iShares Brazil- EWZ +1.75%, Latin America- ILF +1.50%, iShares basic materials- IYM +1.50%, Turkey- TUR +1.50%, SPDRS US retailers- XRT +1.25%

Actively Traded Lagging Global, Regional, & Domestic Sector ETFs:

natural gas- UNG -1.75%, VIX vol index- VXX -1.0%, iShares Japan- EWJ -1.0%, iShares Taiwan- EWT -0.75%, aerospace & defense- PPA -0.50%, copper- JJC -0.50%, Canadian dollar currency shares- FXC -0.50%, cocoa- NIB -0.50%

10:33

BCON Beacon Power confirms construction of Beacon Power flywheel plant in New York on schedule (0.31 +0.02)

Co continues to make progress on the construction of its 20 MW flywheel energy storage plant in Stephentown, New York. The project remains on schedule to connect and operate 4 MW of frequency regulation capacity and begin earning revenue by year-end. The balance of the 20 MW plant is scheduled to come online by the end of the first quarter of 2011.

10:30

SPY Stock indices pause near 50% retrace, holding up well -- Dow +34, S&P +3, Nasdaq +3.8 -Update- -Technical-

Noted the quick run to the 50% retracement of the Fri-Tues decline for the market averages in an earlier update and have seen a limited pause develop. Intraday watching 1048 S&P, 10016 Dow and 2117 Nasdaq Comp. A continued posture above keeps a constructive pattern off the low in place.

10:29

VOD NASDAQ 100 (NDX) strength & weakness- Telecom (VOD) leads all percentage gainers; Smartphone maker (RIMM) noticeably weak to new 52-week lows -Technical-

NDX 10 Best % Performers:

VOD, VMED, JOYG, COST, CELG, PCLN, SHLD, LOGI, TEVA, BIDU

NDX 10 Worst % Performers:

RIMM, SNDK, STX, FLEX, DELL, BRCM, VRSN, ORCL, YHOO, SRCL, CERN

NASDAQ A/D +1.5:1

NASDAQ TRIN +1.20

10:26

CAT Dow 30 (INDU) strength & weakness- Machinery (CAT) leads through today's 1st hour of trade; Technology names (CSCO, INTC) notably weak -Technical-

INDU 5 Best % Performers:

CAT, VZ, DD, WMT, AXP

INDU 5 Worst % Performers:

INTC, BAC, BA, CSCO, JNJ

NYSE A/D @ +2:1

NYSE TRIN +1.30

10:13

SPY Further rebound gains after data with stock indices cutting the Fri-Tues slide in half -- Dow +42, S&P +4.4, Nasdaq +7.7 -Update- -Technical-

10:06

MASI Masimo reports that a randomized controlled trial finds Masimo PVI improves fluid management during surgery (22.54 +0.07)

Co announced that a new randomized controlled trial published in Anesthesia & Analgesia shows that clinicians using Masimo Pleth Variability Index (PVI) significantly improved fluid management and reduced lactate levels in patients during and after surgery, compared to patients managed by standard care without PVI(1). Multiple previous studies(2,3,4) have shown that PVI predicts fluid responsiveness, defined as a significant increase in cardiac output after fluid administration, but this is the first published study to show that the use of PVI can improve patient management compared to a group of patients not managed with PVI.

10:06

TECHX Relative Sector Strength -Update- -Technical-

Sectors that are outperforming on the recent upside extension include: Housing XHB, Semi SMH, Finance XLF / KRE, Transports IYT, REITs IYR, Solar TAN, Steel SLX.

10:04

CNBC reports that the FDIC says the number of problem banks rose from 775 in Q1 to 829 in Q2

10:01

SPY Stock indices jump into positive territory after the higher confidence data -- Dow +21, S&P +1.4, Nasdaq +1.1 -Update- -Technical-

09:56

SPY Indices extend bounce off lows near last week's troughs, hovering slightly under flat line -- Dow -5, S&P -1.8, Nasdaq -4.3 -Technical-

09:53

SLV Silver Trust ETF range trading slightly under the session high of 18.90 (18.84 +0.21) -Technical-

Note that its high from last week and the three month high from June is at 18.93/18.94 -- PAAS, SIL, SLW, SSRI.

09:49

GDX Mkt Vctrs Gold Miners a top performing sector sets new session high of 54.36, eyeing its May/June highs (54.36 +1.24) -Technical-

Its May high is at 54.63, the June peak is at 54.83 with the 52-wk high from Dec at 55.40 -- AEM, ABX, AU, FCX, GFI, GG, HMY, KGC, NEM, BVN, AUY, EGO.

09:47

SPY Stock indices hold just above last week lows and lift modestly following PMI report -- Dow -24, S&P -4.1, Nasdaq -11 -Update- -Technical-

09:45

TECHX Sector Weakness -Update- -Technical-

The worst performing sectors as the major market averages test/pause just above last week's lows have been led by Disk Drive -2.2%, Healthcare -1.6%, Computer-Hardware -1.5%, Chemical -1.4%, Defense PPA -1.3%, Transport IYT -1.1%.

09:43

CNC Centene statement on Puerto Rico decision; AHI proposal, submitted in alliance with Centene, was not selected to render health services (20.40 -0.44)

Co and American Health, were notified by Puerto Rico's Administracion de Seguros de Salud (ASES) that the AHI proposal, submitted in alliance with Centene, was not selected to render health services under the Commonwealth's Mi Salud program, after the parties were unable to reach mutually acceptable economic terms.

09:42

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: SKS (+1.68), GOLD (+1.29), GG (+1.35), NEM (+1.31), AEM (+1.19), WLT (+1.03)

Point Losers: MON (-2.87), VFC (-2.07), AAPL (-1.95), MCCC (-1.30), AGU (-1.22), BIDU (-1.06), CMI (-1.10), IBM (-1.05)

09:41

SPY Stock indices continue to weaken, working back toward last week's lows -- Dow -60, S&P -6.8, Nasdaq -16 -Update- -Technical-

09:38

MSFT Microsoft flirts with last week's low at 23.51 in early trade and stabilizes -- session low 23.53 (23.63 -0.01) -Technical-

Needs to sustain a move back through 23.68/23.73 to improve the very short term weaker pattern.

09:36

PBI Pitney Bowes subsidiary has been retained by MetLife (MET) to manage mail services at 27 of the company's locations throughout the U.S. (19.10 -0.21)

09:35

ECONX Reminder: August Consumer Confidence due out in ~25 mins at 10:00 ET (Briefing.com consensus 50.0; July was 50.4)

09:35

QCOM Qualcomm lower in early trade, hovering modestly above its 50 ema at 37.76 with last week's low at 37.65 -- session low 37.85 (37.91 -0.38) -Update- -Technical-

Note that this moving average has provided important support on several occasions this month. The Aug low/five week range low is at 37.45.

09:32

DVAX Dynavax Technologies awarded grant from National Institute of Allergy and Infectious Diseases (1.68 -0.02)

Co announced a grant from the National Institute of Allergy and Infectious Diseases (NIAID) to take a systems biology approach to study the differences between individuals that do or do not respond to vaccination against the Hepatitis B virus. This study will be one of several projects covered in a five-year, $17.6 million grant to Dr. Jacques Banchereau of the Baylor Institute of Immunology Research in Dallas as part of the Human Immune Phenotyping Centers program.

09:32

YHOO Yahoo! gap down start leaves it near last wk/52-wk low at 13.03 -- session low 13.05 (13.10 -0.08) -Technical-

09:23

IOC InterOil announces agreement to settle long-standing lawsuit; company will issue 199,667 common shares to the plaintiffs, valued at $12 mln (56.86 )

Co announced that it has entered into an agreement to settle all claims against it and its subsidiaries brought by various plaintiffs in the District Court of Montgomery County, Texas commenced in 2005 and styled Todd Peters v. Phil Mulacek. Pursuant to the agreed settlement, the Company will issue 199,667 common shares to the plaintiffs, valued at $12 mln based on a volume weighted average price calculated over the ten trading days prior to execution of the settlement agreement. The value of this settlement will be expensed by the Company in its third quarter financial results.

09:20

ECONX Reminder: August Chicago PMI due out in ~25 mins at 9:45 ET (Briefing.com consensus 57.0; July was 62.3)

09:11

WIRES On the Wires

Safeguard Scientifics (SFE) issued patent for tsx system level security technology for anti malware...Skechers USA (SKX) signs licensing agreement for branded luggage and travel accessories with Olivet International. The collection is scheduled to launch in Fall 2011 in the U.S. and Canada.

09:05

SYMX Synthesis Energy Systems retained the services of MBS Value Partners as its Investor Relations firm (0.93 )

MBS Value Partners is a capital markets strategic advisory firm specializing in maximizing shareholder value through effective communications.

09:05

On the Wires

DuPont Fabros Technology (DFT) utilized the accordion feature under its unsecured revolving credit facility to increase the current borrowing amount to $100 mln from $85 mln. This $15 million increase fully maximizes the facility's accordion feature. The credit facility may be used for general corporate purposes, including funding of the company's development pipeline...Safeguard Scientifics (SFE) issued patent for tsx system level security technology for anti malware...Radient Pharmaceuticals Corporation (RPC) resumed collaborations with Mayo Collaborative Services to conduct a clinical study for the validation of RPC's US FDA-approved Onko-Sure in vitro diagnostic cancer test as a useful tool in colorectal cancer recurrence and treatment monitoring.

09:03

MGA Magna expects to implement the arrangement to eliminate dual-class share structure (75.13 )

Co announced that, after the close of markets on August 30, 2010, the Ontario Divisional Court dismissed the appeal of certain dissident minority shareholders of Magna and upheld the decision of the Ontario Superior Court approving the previously announced plan of arrangement to eliminate Magna's dual-class share structure. The decision of the Divisional Court followed a hearing held on August 26, 2010. Co expects to implement the arrangement later today.

09:00

IEC IEC Electronics announces $5.1 mln award; deliveries will commence April 1, 2011 (4.81 )

Co announced that it has received an order valued at more than $5.1 mln from one of its Military and Defense customers. Deliveries will commence April 1, 2011 during IEC's fiscal third quarter and will be completed by March, 2012.

08:52

MCCC Mediacom Comm: Rocco Commisso withdraws his offer to take Mediacom Communications private (6.85 )

CEO of Mediacom Comm announces that he has withdrawn his May 31, 2010 non-binding offer to purchase all of the shares of Mediacom not currently owned by him. He reached this decision after the Special Committee of Mediacom's Board of Directors rejected a meaningful increase to his initial offer price, and despite his agreement that acceptance of such offer would be subject to the approval of the holders of a majority of shares of Mediacom he does not own.

08:51

HNZ HJ Heinz preannounces Q1 results with EPS ahead of consensus; reaffirms FY11 guidance (46.09 )

Co issues guidance for Q1 (Jul), sees EPS of $0.75 vs. $0.73 Thomson Reuters consensus; sees Q1 (Jul) revs of more than +1.6% -- more than 3% oragnically -- to ($2.507 bln) vs. $2.53 bln Thomson Reuters consensus. Co also reaffirms FY11 guidance for constant currency sales +3-4% and EPS growth of 7-10%. "Emerging Markets once again are expected to drive our results, with organic sales growth of almost 22% (13.2% reported) in the quarter. We believe that our solid first-quarter results put Heinz on track to deliver our financial targets for the full year, even though the consumer and economic environment remains challenging."

08:48

COMDX Gold and silver futures spike to best levels of the morning; gold now higher by $6.50 to $1245.70 while silver is up 10.6 cents to $19.18

08:47

SIVB SVB Financial Group promotes Greg Becker to president of SVB Financial Group; Ken Wilcox will remain chief executive officer of SVB Financial Group (36.95 )

08:43

WAB Wabtec MotivePower Unit signs contract with MBTA for new passenger locomotives for $114.63 mln (42.18 )

Co announces it has signed a contract with the Massachusetts Bay Transportation Authority to supply 20 next-generation HSP46 passenger locomotives to be delivered in 2012-2013. The order is valued at $114.63 mln including training, manuals and spare parts.

08:36

On the Wires

Yahoo! (YHOO) and Dex One (DEXO) announced an expanded partnership which will increase local businesses' online exposure. All businesses advertising on Dex One's popular local search site, DexKnows will now be able to have their online listings appear in Yahoo! Local search results. The expanded partnership doubles the geographic area covered by an existing relationship formed in 2007, providing more local businesses with greater opportunities to attract ready-to-buy customers...Medidata Solutions (MDSO) announced that PharmaNet Development Group has joined Medidata's ASPire to Win channel partner program...BorgWarner (BWA) supplies the engine timing system and transmission components for the all-new 2011 Jeep Grand Cherokee...Pall Corporation (PLL) has been contracted to supply critical enabling technologies for the Habshan 5 natural gas treatment plant being constructed by Abu Dhabi Gas Industries. A joint venture of Tecnimont S.p.A. and JGC has ordered Pall SepraSolTM liquid/gas coalescer systems, Ultipleat High Flow and Coreless Profile filters, porous metal high flow elements with PMF media, and activated carbon units for the ~$5 billion processing plant.

08:33

ISLE Isle of Capri misses by $0.19, misses on revs (8.87 )

Reports Q1 (Jul) loss of $0.08 per share, $0.19 worse than the Thomson Reuters consensus of $0.11; revenues fell 2.3% year/year to $251.9 mln vs the $262.5 mln consensus. The co noted that property-level operating margins have largely remained stable as initiatives continue to adjust cost-structure to business volume, although performance was impacted specifically by properties in Iowa and Colorado. In particular, properties in the Iowa Quad Cities market have continually been negatively impacted by road construction projects which have hindered access to our properties, and Black Hawk continued to experience difficulty in the retail segment. Regulatory changes and efforts by mgmt in Florida have led to a dramatic improvement at the co's Pompano property, and Lula continues to improve its performance by consistently improving operations.

08:33

ZION Zions Bancorp sells NetDeposit to BankServ; terms not disclosed (18.24 )

Co sells NetDeposit to BankServ for undisclosed amount. BankServ will take a commanding position in the payments processing space by more than doubling its end user client base. The transition period expected to last into early 2011.

08:32

QCC Quest Capital announces results of its modified "Dutch Auction"; says 489,342 common shares have been properly deposited as at the expiration of the Offer (1.51 )

Co announces the results of its modified "Dutch Auction" substantial issuer bid to purchase for cancellation up to Cdn$60 mln in value of its common shares, which expired at 5:00 p.m. (Toronto time) on 8/30/ 2010. Based on the report provided by the depositary for the Offer, 489,342 common shares have been properly deposited as at the expiration of the Offer (and not withdrawn). Pursuant to the terms of the Offer, Quest has determined the purchase price to be Cdn$1.60 per common share.

08:31

ACN Accenture receives a 7-yr, $160 mln contract extension to continue managing its end-to-end supply chain from Educational Testing Service (36.90 )

08:31

RWC Relm Wireless has been awarded orders totaling approximately $1.1 mln from the Dept of Defense (1.78 )

Co announces that it has been awarded orders totaling approximately $1.1 mln from the DoD. These orders are for the Company's digital P25 KNG portable radios and accessories. It is anticipated that the orders will be fulfilled during Q3 and Q4 of FY10.

08:17

ZBB ZBB Energy clarifies security purchase agreement with Socius (0.45 )

Co clarifies the complete operation of the Securities Purchase Agreement with Socius. Under the Securities Purchase Agreement, ZBB has the right over a term of 2 yrs to require Socius to purchase, in separate tranches, up to $10 mln of redeemable subordinated debentures and/or shares of redeemable Series A preferred stock.

08:10

On the Wires

VMware (VMW) and HP (HPQ) announced an agreement to deliver a new virtualization solution, reference architectures and IT services to help customers accelerate cloud computing deployment and IT as a service...Varian Medical Systems (VAR) announces a 51-year-old breast cancer patient from Switzerland has become the first person in the world to be treated using Gated RapidArc, which makes it possible to monitor patient breathing and compensate for tumor motion while quickly delivering radiotherapy during a continuous rotation around the patient. This development enables the use of RapidArc radiotherapy technology in combination with respiratory gating - a process of turning the beam on and off in synchrony with the patient's breathing. This technique increases the precision of treatment delivery by compensating for tumor motion...Apollo Group (APOL) discloses in 8-K that it has received a copy of a complaint in a purported class action lawsuit naming Apollo Group and several current senior executives as defendants. The complaint, which was filed in the U.S. District Court for the District of Arizona, alleges that Apollo Group and the other named defendants made materially false and misleading statements between December 7, 2009 and August 3, 2010 about Apollo Group and its business in violation of federal securities laws, and that these statements artificially inflated the trading price of the Apollo common stock to the detriment of shareholders who purchased shares during that time.

08:09

ONTY Oncothyreon announced the appointment of Julie Eastland as CFO and Vice President, Corporate Development, effective Sept 7, 2010 (3.29 )

Co announced the appointment of Julie M. Eastland as Chief Financial Officer and Vice President, Corporate Development, effective September 7, 2010.

08:09

TRID Trident Microsystems plans to pursue license agreements with TV OEMs and consumer electronics semiconductor providers; has not disclosed financial details of its licensing program (1.43 )

08:08

PSO Pearson Plc unit will be exclusive provider of computer-based testing for the American Health Information Management Association (14.75 )

Beginning January 2011, AHIMA's seven certification examinations will be delivered at Pearson Professional Centers globally.

08:06

OSIS OSI Systems' Rapiscan Systems awarded multiple Exploratory Research Program contracts by the U.S. Department of Homeland Security (29.22 )

Rapiscan has secured contracts that are incrementally funded for a total obligated value of $2 million with additional options that could be exercised for a total value of up to $12 million.

08:05

OXBT Oxygen Biotherapeutics reports Study Shows DERMACYTE Oxygen concentrate appears to improve the appearance of fine lines and the perception of skin appearance (3.08 )

Co announced that results from an 8-week cosmetic study showed that the topical application of DERMACYTE Oxygen Concentrate, an oxygen-rich skin care lotion, appears to improve the appearance of fine lines and the perception of skin appearance. At the conclusion of the study conducted with 36 women ages 39-63 with mild-to-moderate facial wrinkles, 80% of subjects experienced at least one-grade improvement on the Fitzpatrick Wrinkle Assessment Scale (FWAS); 97% experienced at least one grade of improvement compared to their baseline photos according to the investigator's Global Improvement Aesthetic Scale (GIAS); and 84% has at least a grade of improvement on their self-perception of GIAS.

08:05

KTOS Kratos Defense and Security awarded New $16 mln prime contract by the U.S. Army Tank Automotive Command (9.46 )

08:05

MON Monsanto sees FY10 at the low end of prior guidance; expects FY10 EPS of $2.40-2.45 vs. $2.49 consensus (55.90 ) -Update-

The company expects ongoing EPS for the fiscal year in the range of $2.40 to $2.45 a share, at the low end of its previous $2.40 to $2.60 guidance range, vs. Thomson Reuters consensus $2.49. This expectation reflects strong quarterly seed and trait sales in Latin America and other international markets, solid fourth-quarter performance of Monsanto's crop-protection business, and the realization of discrete tax benefits. The company continues to expect free cash flow in the range of $400 million to $500 million for the fiscal year. "Our operating plan for the quarter and the conclusion of the fiscal year focused on delivering on our revised commitments and setting up our business for mid-teens earnings growth going forward," said Chief Financial Officer Carl Casale. "With a solid wrap to the quarter, we'll turn the page and start a new chapter as our growth focus shifts squarely to our seeds-and-traits business."

08:03

GRS Gammon Gold signed the definitive purchase option agreements on the Los Jarros Properties (7.13 )

Co signed the definitive purchase option agreements on the Los Jarros Properties, in Chihuahua State, Mexico. "The addition of this project to Gammon's existing land package gives the Company a commanding position in the greater Ocampo / Pinos Altos / Concheno district. These holdings allow Gammon to extend exploration from the Ocampo and Venus projects to prospective ground between these two properties and our existing land package, as well as new ground in this large district." Apart from the disseminated epithermal target in the southern block of claims, the Los Jarros properties control the potential northwest strike extent of the Concheno vein system (being developed by Frisco Mining). Valdez' historical work had identified three unexplained stream-sediment gold anomalies within the land package. Gammon intends to explore the entire Los Jarros Project aggressively in the coming dry season. The Company plans to conduct a detailed geologic mapping program on the southern Los Jarros prospect.

08:02

ID L-1 Identity Solutions Amends Credit Agreement (9.03 )

Co announces that it has amended its credit agreement to extend the time period during which financial covenants modified on March 31, 2010 will apply

08:01

CACI CACI Intl awarded $40 mln contract to continue support for Library of Congress digital content management and delivery (42.10 )

Co announces $40 mln contract to continue support for Library of Congress digital content management and delivery. The contract, for one base year and four option years, was awarded under the General Services Administration's Information Technology Schedule.

08:01

TEAR TearLab has entered into a cooperative marketing agreement with Abbott Medical Optics's subsidiary (2.25 )

Co announces that it has entered into a cooperative marketing agreement with Abbott Medical Optics Inc.'s subsidiary, AMO Canada Company. Under the agreement, AMO Canada's sales force will directly sell the TearLabOsmolarity System in Canada while TearLab will help promote AMO Canada's products for the relief of dry eye symptoms, including Blink Moisturizing Eye Drops.

08:00

OFIX Orthofix established a new $300 mln five-year credit facility (27.08 )

<p>Co announced that it has established a new $300 mln five-year credit facility, including a $200 mln senior secured revolving line of credit and a $100 mln senior secured term loan.

07:59

PSDV pSivida announces Iluvien receives FDA Priority Review for treatment of diabetic macular edema (3.26 )

Co announced that its licensee, Alimera Sciences (ALIM) has been notified that the FDA has granted Priority Review status for the New Drug Application (NDA) filed for Iluvien for the treatment diabetic macular edema. This status reduces the review time goal from 10 months to six months. Co stated "With priority review a response from the FDA regarding Iluvien could be received in the fourth quarter of this year. Approval of Iluvien would trigger a $25 million milestone payment to pSivida from Alimera. Under the license agreement pSivida is also to receive 20 percent of net profits on sales by Alimera."

07:51

On the Wires

NICE Systems (NICE) is continuing to advance its Open Situation Management initiative for multi-sensor security deployments. As part of the initiative, NICE Situator will be interoperable with the latest version of DVTel's Latitude NVMS video management system...Tyler Technologies (TYL) has signed a contract with Putnam County, Tennessee, to provide its Odyssey integrated court case management software solution...Halliburton (HAL) has been awarded a contract by Eni to provide a range of integrated energy services toward the redevelopment of the Zubair field in southern Iraq. Work for the multi-million dollar contract is underway. Halliburton will perform services such as wire-line logging, perforating, acidizing and well testing on 20 wells...Kennedy Wilson (KW) announces that its auction division offered and sold 26 units of Edge condominiums at an auction that it conducted on Sunday, 8/29/2010 at Hilton Americas-Houston. Gross sales totaled $6 mln, and prices averaged 204% of starting bids, exceeding the seller's expectations...Jacobs (JEC) receives contract from IOT Infrastructure & Energy Services for Cavern Project. Officials did not disclose the contract value, however they indicated that the total installed cost of the project is estimated at $65 mln...Skilled Healthcare Group (SKH) announces that further court proceedings in the case entitled VINNIE LAVENDER, by and through her Conservator, WANDA BAKER; WALTER SIMON; JACQUELYN VILCHINSKY vs. SKILLED HEALTHCARE GROUP, INC., et al have been postponed until 9/2/2010. The proceedings were previously scheduled to begin on8/31/2010. Settlement discussions in the case are ongoing... Northern Trust (NTRS) announces that its application for a branch license in Beijing has been approved by the China Banking Regulatory Commission (CBRC). The authorization by the CBRC marks a milestone for Northern Trust, which has had a representative office in Beijing since 2005...Elbit Imaging (EMITF) subsidiary, InSightec, announces that its ExAblate system has been used for the first time for the treatment of prostate cancer patients. Seven patients with localized low-risk prostate cancer were treated worldwide so far. The patients were treated at two leading medical centers: the N.N. Petrov Research Institute of Oncology in Saint Petersburg, Russia, and at the National Cancer Centre at the Singapore General Hospital, Singapore...Gold Resource Corporation (GORO) announces it has declared its 2Q10 Special Cash Dividend of $0.03 per common share to its shareholders of record September 17th, payable September 29th, 2010...Continucare Corporation (CNU) announces that its wholly owned subsidiary Seredor Corporation has expanded its sleep center operations through the acquisition of a South Florida-based operator of sleep diagnostic centers. The acquired business currently operates two independent diagnostic testing facilities...Staples (SPLS) announced plans to offer customers Kindle (AMZN). Staples is the only office superstore to carry the wireless reading device in all of its stores nationwide beginning this fall.

07:33

MMM 3M to acquire Attenti Holdings S.A. (79.65 )

Co announces it has entered into a definitive agreement to acquire Attenti Holdings S.A. from an investor group led by Francisco Partners, for a purchase price of $230 mln in cash. On a GAAP basis, 3M estimates the acquisition to be slightly dilutive to earnings in the first 12 months following completion of the transaction. Excluding purchase accounting adjustments and anticipated integration expenses, 3M estimates the acquisition to be slightly accretive to earnings over the same period.

07:31

ODFL Old Dominion says certain officers and directors and other non-executive Congdon family shareholders have adopted pre-arranged stock trading plans in accordance with Rule 10b5-1 (24.12 )

Co announces that certain Old Dominion officers and directors and other non-executive Congdon family shareholders have adopted pre-arranged stock trading plans in accordance with Rule 10b5-1. Directors and officers of Old Dominion who adopted pre-arranged stock trading plans include Earl Congdon; John Congdon; David S. Congdon; and John Congdon Jr. Under the trading plans and subject to certain conditions and restrictions, up to an aggregate of 839,733 shares of Old Dominion stock may be sold by the above four named officers and directors, which represents 11.1% of their collective holdings and 1.5% of the 55,926,945 shares of Old Dominion stock currently outstanding. No single officer or director intends to sell through the plans more than 12.4% of the Old Dominion shares he currently owns.

07:31

HALO Halozyme Therapeutics announces completion of its root cause investigation regarding HYLENEX manufacturing and has identified a corrective action plan and regulatory strategy to reintroduce it to the mkt (7.19 )

Co announces completion of its root cause investigation regarding HYLENEX manufacturing and has identified a corrective action plan and regulatory strategy to reintroduce HYLENEX to the market. Halozyme and Baxter are finalizing the materials for a meeting with the FDA to seek concurrence with the reintroduction strategy. During several meetings and discussions held between the two companies, Baxter's senior management has reiterated its commitment to the successful commercialization of HYLENEX. As a result of this progress, Halozyme has lifted the notice of breach that was delivered to Baxter Healthcare Corporation on May 16, 2010.

07:31

IMAX IMAX signs theatre deal with Cinema City International (13.80 )

Co announced an agreement with Cinema City International to install two new digital IMAX theatre systems in Israel, which are currently anticipated to open in 2011. As part of the deal, Cinema City also committed to upgrading all eight of its existing film-based IMAX locations with IMAX's digital projection technology. Five of these locations are scheduled to be upgraded this year, and the remaining three upgrades are to be completed in 2011. The deal brings the total number of digital IMAX theatre systems operated by Cinema City to 11 and the total number of IMAX theatres expected to be in operation in Europe and Israel by 2012 to more than 80.

07:08

CHOP China Gerui beats by $0.02, beats on revs; expansion project remains on track (5.22 )

Reports Q2 (Jun) earnings of $0.26 per share, $0.02 better than the Thomson Reuters consensus of $0.24; revenues rose 15.5% year/year to $64 mln vs the $62.7 mln consensus. Gross margin -60 bps to 29.9%. "Our expansion project remains on track and we look forward to bringing this new capacity online later this year. Our business outlook remains strong as the sale of our products are driven by domestic purchasing power in China, which continues to rise, and the import replacement trend in our industry."

07:07

DSW DSW beats by $0.05, reports revs in-line; reaffirms FY11 EPS guidance (23.79 )

Reports Q2 (Jul) earnings of $0.52 per share, $0.05 better than the Thomson Reuters consensus of $0.47; revenues rose 12.3% year/year to $415.1 mln vs the $415.5 mln consensus. Co reaffirms guidance for FY11, sees EPS of $1.80-1.95 vs. $1.94 Thomson Reuters consensus. Co says the second half performance implied in the guidance recognizes the more challenging last year comparisons for both sales growth and merchandise margins.

07:05

EXC Exelon expanding into wind generation with acquisition of John Deere Renewables (40.52 )

Co announces an agreement to acquire John Deere Renewables in a transaction that will add 735 operating MW of clean, renewable energy to EXC's generation portfolio, as well as an additional 230 MW in advanced stages of development. The acquisition is valued at ~$860 mln with a provision for up to an additional $40 million upon commencement of construction on the advanced development projects. "Not only does this acquisition add value for Exelon shareholders, providing incremental earnings in 2012 and cash flows in 2013, but it also is one more way to implement a clean energy future."

07:04

DG Dollar General beats by $0.04, reports revs in-line; raises FY11 EPS to in-line, raises FY11 rev guidance, still below consensus (27.38 )

Reports Q2 (Jul) earnings of $0.42 per share, ex-items, $0.04 better than the Thomson Reuters consensus of $0.38; revenues rose 10.8% year/year to $3.21 bln vs the $3.22 bln consensus. Co issues mixed guidance for FY11, sees EPS of $1.68-1.74, excluding non-recurring items, vs. $1.72 Thomson Reuters consensus, up from $1.62-1.69 previously; sees FY11 revs +8.5-10.5% (vs. +8-10% previously) to ~$12.80-13.04 bln vs. $13.09 bln Thomson Reuters consensus.

07:03

DE Deere reaches agreement for sale of wind energy business to Exelon (62.98 )

Co announces it has signed a definitive agreement to sell John Deere Renewables, its wind energy business, to Exelon Generation Company, a wholly-owned subsidiary of Exelon (EXC). Deere said the $900 mln sale, including earn-out provisions, will result in an after-tax charge of approxi $25 mln in its fourth quarter results. The charge was not reflected in Deere's fourth quarter earnings forecast of approx $375 mln that was announced August 18th.

07:01

GLBL Global Industries awarded $90 mln project in northeast Brazil (4.62 )

Co announced that its Brazilian business unit (Global Industries Brasil) has been awarded a project for design, engineering, procurement, fabrication, installation and pre-commissioning to be performed in the northeast region of Brazil. The project, worth approximately $90 mln, will be mainly performed by the DLB Iroquois, a pipelay and offshore construction vessel, with the support of a diving vessel. Engineering, procurement, and fabrication for the project will begin in Q4 2010, with execution of the project beginning in 2011.

06:39

S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -7.50.

06:39

Asian Markets

Nikkei...8824.06...-325.20...-3.60%. Hang Seng...20536.49...-200.70...-1.00%.

06:39

European Markets

FTSE...5151.81...-49.80...-1.00%. DAX...5867.00...-45.30...-0.80%.

06:33

RVSN RADVision announces shareholder approval of partial cash self tender offer to to purchase 5% (or ~977K) of voting power for $7.30/share (6.86 )

06:31

MYGN Myriad Genetics announces its Board authorizes repurchase of $100 mln in common stock (15.62 )

06:31

TASR TASER wins judgment and final injunction in patent infringement against Stinger Systems (3.64 )

Co announces that on 8/30/2010, the United States District Court for the District of Arizona entered judgment in favor of co against Stinger Systems on Count One of TASER's complaint and further ordered that "Stinger is hereby adjudged to have infringed claims 2 and 40 of United States Patent No. 6,999,295 ('the '295 patent')" and that "Claims 2 and 40 of the '295 patent are hereby adjudged to be valid and enforceable." The patent infringement claim against Stinger's S-200 is based on TASER's patent on the dual mode "shaped pulse" technology found in the TASER(R) X26 , X3 , Shockwave, and C2 electronic control device ("ECD") products. The Court's ruling found that the "Flyback Quantum Technology" found in the Stinger S-200 literally infringes TASER's '295 Patent.

06:09

WLK Westlake Chemical to commence construction of Chlor-Alkali Plant (25.51 )

Co announces it is proceeding with the previously announced construction of a new chlor-alkali plant to be located at its vinyls manufacturing complex in Geismar, Louisiana. The construction costs for this chlor-alkali facility are estimated to range between $250 mln-$300 mln. The project is targeted for start-up in the 2H13 and will be partially funded by the Gulf Opportunity Zone bonds issued by the company.

02:06

END Endeavour Intl agreement to sell Cygnus asset enters into (1.22 )

Co announces it has signed a definitive agreement to sell its Cygnus asset in the Southern Gas Basin of the UK sector of the North Sea to Bayerngas UK for a cash consideration of $110 mln. The cash proceeds will not be burdened by any current taxes payable.

02:03

AEG AEGON N.V. repays EUR 500 mln of government support (5.12 )

Co announces that it fulfilled its commitment to repay to the Dutch State EUR 500 mln the EUR 3 bln in core capital the company secured through its largest shareholder, Vereniging AEGON in 2008.

01:34

KSP K-Sea Transportation postpones its fourth quarter fiscal 2010 earnings conference call (5.05 )

Co announces postponement of its fourth quarter fiscal 2010 earnings conference call as co expects to enter into an agreement tomorrow with its revolving credit lenders to provide an extension of the waiver period that was previously scheduled to expire on 8/30/10. Additionally, the co is working with its lenders to amend the financial covenants in its revolving credit facility.

01:30

YGE Yingli Green Energy announces a five-year polysilicon supply agreement with OCI for ~$442 million (10.81 )

01:22

FSTR L.B. Foster Company and Portec announce second amendment to merger agreement and extension of tender offer (25.63 )

Co and PPRX announces second amendment to merger agreement and extension of tender offer. FSTR and PRPX agreed to extend the "drop dead" date of the Merger Agreement from 8/31/10 until 12/30/10. In exchange for PRPX agreeing to the extension, FSTR has agreed to both increase the tender offer share price from $11.71 per share to $11.80/share and, subject to certain conditions, pay Portec $2 million should the transaction not close by 12/30/10. The primary obstacle to the acquisition has been the antitrust concerns of the Antitrust Division of the DOJ, particularly related to PRPX's domestic joint business.

01:15

BNVI Bionovo receives positive guidance from FDA on Menerba (0.38 )

Co announces it receives positive guidance from FDA on Menerba. The co expects to initiate US and EU pivotal trials by year end.

01:12

QSFT Quest Software: Centrify Corporation Files Patent Litigation Against Quest (21.34 )

Centrify Corporation announces it has responded to the news that a patent infringement lawsuit was recently filed against Centrify and another software company by QSFT. California. In its Complaint, Centrify alleges that Quest Authentication Services infringes a key technology of Centrify DirectControl that facilitates the capability for UNIX and Linux service accounts and root accounts to be authenticated within a centralized directory.

18:33

CACB Cascade Bancorp announces securities purchase agreements extended with private party investors (0.55 -0.02)

Co announced that it has entered into an agreement with each of David F. Bolger ("Mr. Bolger") and an affiliate of Lightyear Fund II, L.P. ("Lightyear"). The sales to Mr. Bolger and to Lightyear are conditioned upon the Co's simultaneous sale of shares of its common stock in additional private placements to other investors under separate written agreements such that the total net proceeds from the offerings is at least $150 mln, in addition to the other closing conditions set forth in each of the Securities Purchase Agreements.

18:30

SEED Origin Agritech beats by $0.06, reports revs in-line; co lowers FY10 revenue guidance (8.07 -0.12)

Reports Q3 (Jun) earnings of $0.67 per share, $0.06 better than the Thomson Reuters consensus of $0.61; revenues fell 2.5% year/year to $68.1 mln vs the $68.2 mln consensus. Co lowers revenue guidance for FY 2010 to be in the range of RMB 580-RMB 600 mln, down from $630-660 mln.

18:20

GLD December gold is trading just below the unchanged line after hours, currently -0.20 at $1239.00 per ounce

18:20

USO October crude oil is trading lower after hours, currently -0.61 at $74.09 per barrel (33.02 -0.55)

18:15

Futures are mixed after hours: S&P 500 futures -2.15 points from fair value of 1047.85 and Nasdaq 100 futures +0.06 points from fair value of 1769.69

18:01

BNVI Bionovo announces 1-for-5 reverse stock split (0.38 -0.01)

The co's common stock will continue trading on The NASDAQ Capital Market and will begin trading on a split-adjusted basis at the opening of trading on Tuesday, August 31, 2010.

17:27

GT Goodyear calls for redemption of $973 mln in senior notes (9.33 -0.36)

Co has called all of its outstanding senior notes due in 2011 and 2015 for redemption on September 29, 2010. GT intends to use net proceeds from its recent $1 bln issuance of 8.25% senior notes due 2020 to fund these redemptions.

17:21

ALIM Alimera Sciences pops 4.9% after hours to $8.50/share following positive drug news (see 17:16 comment) (8.10 -0.07) -Update-

17:19

OMAB Grupo Aeroportuario: OMA provides information on the suspension of operations of the airlines Mexicana de Aviacion, Click Mexicana, and Mexicana Link (11.90 -0.30)

Co provided information regarding the total suspension of operations of the airlines Mexicana de Aviacion, Click Mexicana, and Mexicana Link that was effective noon, Saturday, August 28th. In its official statement on August 27, 2010, Nuevo Grupo Aeronautico, S.A. de C.V. (Grupo Mexicana) announced the indefinite suspension of operations of Mexicana de Aviacion, Click Mexicana, and Mexicana Link, while noting that it "will continue seeking out ways of securing the co's long-term financial viability."

17:16

FFBC First Financial Bancorp announces the co will prepay $232 mln of FHLB advances (15.35 -0.56)

Co announced that it has completed the prepayment of ~ly $232 mln of Federal Home Loan Bank advances. All of the advances were assumed as part of the FDIC-assisted transactions the Co conducted during the third quarter 2009.

17:16

ALIM Alimera Sciences' announced that the Co's New Drug Application for Iluvien has been accepted for filing and granted Priority Review status by the U.S. Food and Drug Administration (8.10 -0.07)

ALIM is currently conducting two Phase 3 pivotal clinical trials (collectively known as the FAME Study) for Iluvien involving 956 patients in sites across the United States, Canada, Europe and India to assess the efficacy and safety of Iluvien with two doses, a high and low dose, for the treatment of DME.

17:06

APD Air Products provides commentary on ARG's latest delaying tactics (66.38 -0.34)

Co issued the following statement regarding the latest attempts by ARG to delay any shareholder referendum on Air Products' offer for the company. "After 10 months of stonewalling, the ARG Board remains determined to use any and all means to avoid a referendum on APD's offer. Rather than accept a vote by ARG shareholders to hold a 2011 Annual Meeting in January, the ARG Board is desperately pursuing a two-track entrenchment strategy - ask shareholders to wait until June 2011 to hold the ARG Board accountable, and sue to invalidate the September 15 vote if shareholders demand accountability now. Air Products has given ARG shareholders a clear path to receive a substantial premium now - there is no need for further delaying a sale of ARG."

17:02

DCI Donaldson beats by $0.01, beats on revs; guides FY11 EPS in-line, revs below consensus (42.88 -0.48)

Reports Q4 (Jul) earnings of $0.65 per share, $0.01 better than the Thomson Reuters consensus of $0.64; revenues rose 22.3% year/year to $515.2 mln vs the $499.5 mln consensus. Co issues mixed guidance for FY11, sees EPS of $2.28-2.48 vs. $2.45 Thomson Reuters consensus; sees FY11 revs of ~2 bln vs. $2.06 bln Thomson Reuters consensus.

16:58

BONT Bon-Ton Stores will close its Elder-Beerman store by late January 2011 (6.30 -0.15)

The monies received net of closing costs will give rise to a gain on the disposal of the Centerville store. The accretive net impact of the closing will be income of approximately $0.10 per diluted share in fiscal 2010.

16:36

PSEC Prospect Capital falls 3.2% to $9.00 following its Q4 earnings/guidance results (9.30 -0.16) -Update-

16:32

PSEC Prospect Capital misses by $0.03; guides Q1 EPS in-line (9.30 -0.15)

Reports Q4 (Jun) net investment income of $0.25 per share, $0.03 worse than the Thomson Reuters consensus of $0.28. Co issues in-line guidance for Q1, sees net investment income of $0.26-0.30 vs. $0.30 Thomson Reuters consensus.

16:31

ELN Elan announces commencement of asset sale offer to purchase up to $186 mln of 8 7/8% senior fixed rate notes due 2013 and floating rate notes due 2013 (4.33 -0.18)

16:30

ATMI ATMI announces $50 mln share repurchase plan (12.46 -0.04)

16:06

BLL Ball Corp unit will build the next generation commercial remote-sensing satellite for DigitalGlobe (DGI) (55.49 -0.90)

Ball Aerospace will provide the BCP 5000 for WorldView-3, integrate the remote-sensing instrument onto the spacecraft bus, and perform all system testing.

16:01

DDD Scolr Pharma signs agreement with The Emerson Group to provide sales support for Nutritional & OTC Products (0.35 -0.05)

Co announces that it has signed an agreement with The Emerson Group to provide sales support for the Company's new line of extended-release nutritional and over-the-counter drug products. The Emerson Group is a consumer products equity organization that provides strategic consulting and sales execution services to companies in the United States market.

16:01

ATRM Aetrium appoints John Pollock COO; Pollock served co for over 14 yrs (2.83 +0.17)

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