Briefing.com: Hourly In Play (R) – 13:00 ET

Feb 22, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 22-Feb-10 13:00 ET

12:45

RKH Midday sector ETF view -Technical-

Actively Traded Leading Sector ETF Plays:

Regional banks- RKH -1.75%, KRE -1.25%, Commercial banks- KBE -1.75%, Financials- XLF -1.0%, IYF -1.0%, iShares S Korea- EWY -1.0%, US airlines- FAA -1.0%, SPDRS metals & mining- XME +1.0%, iShares Japan- EWJ +1.0%, iShares transports- IYT +1.0%, Casinos- BJK +0.75%, RBOB gas- UGA -0.50%, Livestock commods- COW +0.50%, Yen currency shares- FXY +0.50%, China 25- FXI +0.50%, Coal- KOL +0.50%

Actively Traded Lagging Sector ETF Plays:

Nat gas- UNG -3.0%, Solar power- TAN -1.50%, Energy- XLE -1.25%, IYE -1.25%, Base metals- DBB -1.25%, Gold miners- GDX -1.0%, India- INP -1.0%, Biotech- BBH -1.0%, XBI -0.50%, IBB -0.25%, Oil HLDRS- OIH -0.75%, Ag commods- DBA -0.75%, iShares Brazil- EWZ -0.50%, Ag/chem- MOO -0.50%, Semis- SMH -0.50%, IGW -0.25%

12:42

MIL Millipore NYSE resumes trading (96.64 +25.30)

12:40

SPY Stock indices pop above last hour trade range -- Dow -5, S&P -0.4, Nasdaq -1.6 -Update- -Technical-

12:37

WMB Williams Cos attempting to stabilize after test its 50-day sma at 21.49 -- session low 21.50 (21.57 -0.67) -Technical-

Its 50-day ema is slightly below at 21.34.

12:34

OPK Opko Health announces collaboration with Mexican research center (2.05 +0.03)

Co announced the signing of a letter of intent to collaborate with the Centro de Investigacion y Asistencia Tecnologica y Diseno del Estado de Jalisco (CIATEJ), a preeminent technology and research center in the State of Jalisco, Mexico. The organizations intend to initially develop and manufacture vaccines for flu, dengue fever, and West Nile virus.

12:27

HAE Haemonetics cleared by FDA to collect 2RBC from more female donors (54.25 +0.34)

FDA cleared the Haemonetics (HAE) 510(k) for its expanded nomogram to collect two Red Blood Cells on the Cymbal Automated Blood Collection System from female donors who are at least 150 pounds and are 63 inches in height. The Cymbal is a small, portable, battery operated instrument that automates blood collection from volunteer donors, improving process control and helping alleviate blood shortages. This expanded nomogram is identical to the FDA cleared claim for Haemonetics' MCS+ automated system to collect red cells. Prior to this new approval, donors utilizing the Cymbal technology had to be 150 pounds and 65 inches. This approval allows blood collectors to expand utilization of the Cymbal technology to 3-6% more female donors supporting the blood center's abilities to optimize donor collections.

12:15

SPY Trading volume update with charts -- Trading volume remains relatively light, pacing below Friday's options expiration totals -Technical-

Both primary trading exchanges are posting trading volumes mostly on par with last week's relatively light totals through the first 2.5 hours. With the major indices drifting listlessly on either side of unchanged through much of the session, direction and conviction remains absent without mutual fund and institutional participation. Relative weakness remains in the COMPQ & NDX 100 while some relative strength is noted in the RUT and TRAN indices thus far.

As of 12:00p.m. ET 372M shares have traded on NYSE vs. 512M on Friday, while over on NASDAQ, 844M shares have changed hands vs. 916M.

NYSE 30 min volume chart

NASDAQ 30 min volume chart

12:07

XRT SPDR Retail tests/pauses near four month range top/52-wk high again (36.85 +0.08) -Technical-

The Retail ETF (XRT) proved unable to take out its Oct high during the Jan upside extension which was a near term red flag for the market in general (positive sign last March as it did not confirm new market lows). The pullback into the Feb low, however, held near its Dec/late Nov lows keeping the multi-month trading range intact (XRT has outperformed S&P over last month). The XRT is currently up for the seventh session in a row (session high 37.00) with it testing/pausing near the Oct/52-wk peak at 37.03 the last two days (Click for chart) -- ARO +0.2%, KMX -0.5%, PLCE -0.4%, DKS -2%, DBRN -0.4%, FL +1.8%, HSNI -1.6%, JAS +0.5%, SHLD unch, TSCO +0.6%, JCP +0.3%, LTD +0.4%, GYMB +0.2%, NFLX +0.2%.

12:02

Fitch reports that U.S. Credit Card issuers to absorb new regulations; ABS Rating changes unlikely

11:54

European Markets Closing Prices: FTSE: 5352.1 -6.1 -0.1%, DAX: 5688.4 -33.6 -0.6%, CAC: 3756.7 -12.8 -0.3%, Spain's IBEX: -1.0%, Portugal's PSI: +0.19%

11:50

AMCS AMICAS: Merge Healthcare makes fully financed offer to purchase AMICAS for $6.05 cash per share (5.63 +0.26)

Merge Healthcare (MRGE) announced its pending $6.05 cash per share offer for AMICAS (AMCS). Merge's proposal, for an aggregate of $248 million, represents a 13% premium to the previously-announced offer for AMICAS from a newly-formed affiliate of Thoma Bravo for $5.35 cash per share. Merge's current offer follows its offer of $6.00 cash per share that was made during the "go-shop" period contemplated by AMICAS' merger agreement with Thoma Bravo. Last week, Merge intervened in Massachusetts litigation challenging the adequacy of AMICAS' disclosures relating to this transaction, as well as the process by which its proposals have been considered by the AMICAS Board of Directors. Merge has received a signed bridge financing commitment from Morgan Stanley to provide $200 million of debt financing, and is subject only to standard and customary conditions. Based on that commitment and available cash, including $40 million of pre-funded equity investments from mezzanine investors, Merge has proposed to commence a $6.05 cash per share tender offer for all AMICAS shares and to close the acquisition as quickly as possible thereafter.

11:44

SLB Schlumberger -- After some choppy trade along the 60.00 support area all morning, stock pushes back toward gap down highs near the 60.50 mark (60.43 -3.42) -Update- -Technical-

11:41

AAPL Apple slips to fresh lows as it sinks modestly back below the 200.00 area (199.55 -2.12) -Update- -Technical-

Would note that the stock is taking out a minor 4-day range low near 200.86 with this move.

11:38

TKR Timken unit to provide an emergency supply of left-hand engine nose gearboxes (26.16 -0.38)

Co unit has received an order to provide an emergency supply of left-hand engine nose gearboxes for aftermarket use on the U.S. Army's fleet of Apache Longbow helicopters. Timken is the only aftermarket manufacturer approved to supply all five gearboxes onboard the Apache.

11:32

Moody's says US commercial real estate prices increase 4.1% in December

US commercial real estate prices as measured by Moody's/REAL Commercial Property Price Indices (CPPI) increased for the second month in a row in December, rising 4.1%. It was the largest month-over-month increase in the nine year history of the CPPI and followed a small, 1% gain in November. The volume of transactions also rose in December, as is typical for the end of the year. Overall, 716 transactions totaling $9.0 billion were recorded in the month. Moody's is uncertain whether the price increases represent passing the bottom of the market or are only the volatility of a market in transition. "Although we are unable to conclude that the bottom to the commercial real estate market is here, we do believe that the period of large price declines is over," says Moody's Managing Director Nick Levidy. "We will need to see data from the first few months of 2010 to develop a better picture of where things stand." As of the end of December, prices are down 29.2% from a year ago and 39.8% from two years ago. They are 40.8% below their peak values.

11:28

Rumor Round Up

We opened the trading week with another morning of takeover rumors. Sohu.com (SOHU 50.33 -0.05) saw some early morning strength following a rumor Baidu.com (BIDU 506.31 +6.16) could be interested in the co. SOHU shares, however, could not hold on to their gains. Commercial Metals (CMC 16.78 +1.69) is trading up 11% today. There was chatter the co could be seeing interest from Nucor (NUE 43.91 -0.45) or Gerdau Ameristeel (GNA 7.73 -0.01). As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable the speculation may increase volatility in the near term

11:18

SPY Stock indices sliding back, hovering modestly above early lows -- Dow -17, S&P -2.2, Nasdaq -2.8 -Update- -Technical-

The snap back intraday rally following the Medicare related slide has lost momentum with stock indices sliding back toward the morning lows over the last half hour. Relative sector weakness (underperforming the S&P) on this move has been noted in Energy XLE / OIH, Materials XLB, Housing XRT, Retail XRT, Utility UTIL, Airline, Solar TAN, Steel SLX, Gold Miners GDX, Shipping SEA.

11:12

A Agilent wins HPLC columns trade secrets case against Advanced Materials Technology (30.97 -0.23)

Co announced a favorable decision in its trade secrets and breach of contract case against Advanced Materials Technology and three of its employees in the Delaware Court of Chancery. Agilent filed the lawsuit in January 2008 to protect confidential and proprietary information relating to its high-performance liquid chromatography (HPLC) technology. The decision in favor of Agilent found that the individual defendants, members of AMAT's senior management team, breached their employment contracts with Agilent by removing Agilent property without permission, and used Agilent confidential information to benefit AMAT. In particular, the court ruled that AMAT illegally used Agilent trade secrets and confidential information in developing its Halo HPLC columns.

11:11

SNV Synovus selects of Kessel D. Stelling as President and Chief Operating Officer (2.91 +0.05)

11:04

COMDX Natural gas drops to fresh lows at $4.845; now off 19.3 cents to $4.851

10:57

LPX Louisiana-Pacific shares to new 52-week highs in recent trade as price attempts to eliminate notable chart/technical resistance surrounding the 8.00 mark (8.00 +.30) -Technical-

New multi-year highs in play today @ 8.15 as shares outperform early on +3.90% vs. SPX -0.10%.

10:52

GLD streetTRACKS Gold Shares slips to fresh lows as it dips down to challenge its 4-day gap up range low near 108.81 (108.82 -0.65) -Technical-

GDX, AEM, GG, GFI, RGLD, GOLD, AUY, IAG, NEM

10:37

DE Relative Weakness -- Deere sinks to fresh morning lows as it nears a test of Friday's low at 56.60; 3-day gap up range lows below at 56.05 (56.65 -0.63) -Technical-

10:35

RKH 1st hour sector ETF view -Technical-

Actively Traded Leading Sector ETF Plays:

Regional banks- RKH +1.50%, KRE +1.25%, Commercial banks- KBE +1.50%, Coal- KOL +1.25%, US airlines- FAA +1.25%, iShares Japan- EWJ +1.0%, SPDRS metals & mining- XME +1.0%, iShares S Korea- EWY +1.0%, Casinos- BJK +1.0%, Financials- XLF +1.0%, IYF +0.75%, iShares transports- IYT +0.75%, China 25- FXI +1.0%

Actively Traded Lagging Sector ETF Plays:

Nat gas- UNG -2.50%, Base metals- DBB +1.0%, Energy- XLE -1.0%, IYE -1.0%, India- INP -1.0%, Solar power- TAN -0.75%, Ag commods- DBA -0.75%, Biotech- BBH -0.75%, XBI -0.25%, Gold miners- GDX -0.50%, Oil HLDRS- OIH -0.50%

10:29

KOL Market Vectors Coal ETF displays relative strength in recent trade, probing its four day range top at 35.60 (35.58 +0.42) -Technical-

Note that its 50-day sma is just above at 35.77 -- ANR, ACI, CNX, JOYG, BTU, WLT.

10:29

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

NDX 100 Best % Performers:

GRMN +2.25%, BIDU +1.75%, JOYG +1.75%, JBHT +1.50%, LBTYA +1.50%, CMCSA +1.50%, WYNN +1.50%, APOL +1.25%, ORCL +1.25%, MRVL +1.25%

NDX 100 Worst % Performers:

FSLR -3.0%, RIMM -2.0%, ERTS -1.75%, GOLD -1.50%, SBUX -1.50%, SYMC -1.50%, NTAP -1.25%, BIIB -1.25%, INTU -1.25%, VRTX -1.25%, PCAR -1.25%

NASDAQ TRIN @+0.80

NASDAQ A/D @ +55

10:26

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

INDU 30 Best % Performers:

BAC +1.50%, JPM +1.50%, CAT +1.0%, HD +1.0%, GE +0.75%, TRV +0.25%

INDU 30 Worst % Performers:

MRK -2.0%, CVX -1.0%, XOM -0.50%, KO -0.25%, BA -0.25%

NYSE TRIN @ +0.85

NYSE A/D @ -270

10:25

XLB Relative sector strength -Technical-

The stock indices are lifting off the lows with relative sector strength (outperforming the S&P) Materials XLB, Steel SLX, Gold Miners GDX, Ag/Chem, Solar TAN, Industrial XLI, Housing XHB, Retail XRT.

10:20

TECHX Early leader Airline -XAL- pulls back after limited/short lived push above its Jan peak at 36.25 -- session high 36.35 -Update- -Technical-

Noted relative strength in Transports this morning (Trucking, Rail, IYT) with the Airline Index has edged back in recent action after a minor penetration of its previous 52-wk high from Jan -- UAUA, CAL, DAL, XJT, JBLU, SKYW, LCC, AAI, ALK, LUV.

10:16

AIG Volume Alert -- American Intl pushes to fresh highs, climbing over $0.50 during the past 5 mins as it attempts to take out the 27.00 level (27.09 +0.56) -Technical-

Would note that the Feb range highs are overhead at 27.90-28.65.

10:15

XLV Healthcare SPDR falters after Medicare tax headlines, thus far holding just above support in the 31.22/31.18 area -- session low 31.24 (31.27 -0.26) -Technical-

This marks its 50-day ema, chart congestion and a retracement support area.

10:14

Obama Medicare Tax Details: Broaden the Medicare Hospital Insurance (HI) Tax Base for High-Income Taxpayers

"Under current law, people who earn a salary pay the Medicare HI tax on their earned income, but those who have substantial unearned income do not, raising issues of fairness. The House bill includes a 5.4% surcharge on high-income households to improve the fairness of the tax system and to support health reform. The Senate bill includes an increase in the HI tax for high-income households for similar reasons, an increase of 0.9% on earnings above a specific threshold for a total employee assessment of 2.35% on these amounts. The President's Proposal adopts the Senate bill approach and adds a 2.9 percent assessment (equal to the combined employer and employee share of the existing HI tax) on income from interest, dividends, annuities, royalties and rents, other than such income which is derived in the ordinary course of a trade or business which is not a passive activity (e.g., income from active participation in S corporations) on taxpayers with respect to income above $200,000 for singles and $250,000 for married couples filing jointly. The additional revenues from the tax on earned income would be credited to the HI trust fund and the revenues from the tax on unearned income would be credited to the Supplemental Medical Insurance (SMI) trust fund."

10:09

TECHX Pharma ETFs are seeing some selling pressure following the Medicare news hitting the wires in recent trade -Technical-

Would watch price action in sector ETFs XLV, PPH, IYH, IHF all related to the healthcare & provider space.

10:07

QQQQ Nasdaq Comp holding above its 50-day sma at 2231 on headline related dip -- session low 2235 -Update- -Technical-

10:02

SPY Stock indices drop to new session lows following Obama headlines -- Dow -19 drops 30 points on report, S&P -3, Nasdaq -6.7 -Update- -Technical-</p>

10:00

XLF Financial Select Sector SPDR providing relative strength, nearing its Feb peak at 14.60 -- session high 14.57 -Technical-

09:58

SPY Stock indices hold above Friday's afternoon lows and attempt to stabilize -- Dow +0.6, S&P -0.5, Nasdaq -2.1 -Update- -Technical-

09:55

QQQQ NASDAQ 100 lagging again -Update- -Technical-

The Nasdaq 100 did not close higher Friday with the recent of the market averages and it is the weakest performing index thus far this morning. Weakness has been noted in LVLT -3.1%, FSLR -3%, GILD -2%, RIMM -1.9%, SBUX -1.6%, EBAY -1.3%, SYMC -1.2%, HOLX -1.1%, PCAR -1%.

09:49

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: BIDU (+4.68), MA (+3.54), OIS (+2.15), GPRE (+1.85), CAGC (+1.84), ESI (+1.43), HUM (+1.58), ENDP (+1.36), COG (+1.28), PWR (+1.15)

Point Losers: SLB (-3.71), FSLR (-3.31), VCI (-2.20), SLXP (-1.35), TLVT (-1.35), RIMM (-1.35), NETL (-1.22), HRB (-1.08), AMSC (-1.00)

09:45

CVM CEL-SCI Corp study shows CEL-2000 vaccine blocks progression of rheumatoid arthritis (0.73 +0.07)

The co and their scientific collaborators announced that the CEL-2000 vaccine demonstrated that it is able to block the progression of rheumatoid arthritis (RA) in a mouse model. The results were published in the scientific peer-reviewed Journal of International Immunopharmacology in an article titled "CEL-2000: A Therapeutic Vaccine for Rheumatoid Arthritis Arrests Disease Development and Alters Serum Cytokine / Chemokine Patterns in the Bovine Collagen Type II Induced Arthritis in the DBA Mouse Model". The protection effect mediated by CEL-2000 treatment against RA was also demonstrated histologically with significant reductions in: 1) inflammation, 2) cartilage destruction, 3) bone resorption, and 4) pannus membrane formation in the synovial space compared to untreated controls.

09:42

SPY S&P 500 and Dow do not confirm Nasdaq Comp push above Friday high with some slippage off the highs noted -- Dow +7, S&P +0.9, Nasdaq +1.3 -Update- -Technical-

09:40

CIGX Star Scientific files application with FDA for Ariva-BDL approval as first modified risk tobacco product (0.96 +0.04)

Co announced that on Friday, February 19 the company filed an application with the Food & Drug Administration for approval to market Ariva-BDL as a "modified risk" tobacco product. Ariva-BDL is a dissolvable tobacco lozenge.

09:40

TECHX Trucking Index -DJUSTK- tests its 200-day sma/50-day ema in opening trade, Transports breaks above 50 day -Update- -Technical-

The Transportation (TRAN, IYT) is outperforming thus far this morning amid Trucking +1.1%, Airline (XAL +1.2%) and Rail (DJUSRR +0.4) gains. As noted Friday the TRAN/IYT tested its 50 day with it pausing during the afternoon. Today they have pushed above, building on recent momentum.

09:38

CSX CSX Corp announces offers to exchange outstanding debt securities for new notes and cash (46.87 +0.10)

Co announced the commencement of private offers to exchange certain of its outstanding debt securities (the "Existing Notes") for a new series of 6.220% Notes due 2040 (the "New Notes") and cash (the "Exchange Offers"). CSX is offering to Eligible Holders of its 8.100% Debentures due 2022 and 7.900% Debentures due 2017 (collectively, the "Second Priority Existing Notes"), the opportunity to exchange up to an aggregate principal amount of their Second Priority Existing Notes equal to (i) $660,000,000 less (ii) the aggregate principal amount of First Priority Existing Notes exchanged pursuant to the Exchange Offers for New Notes and cash.

09:38

BTU Peabody Energy's Wilpinjong Mine Ships First Coal to Newcastle Coal Infrastructure Group (NCIG) Export Terminal (47.15 +0.11)

...

09:37

BVN Buenaventura SA announces operations resume at Buenaventura's Mines (32.79 +0.28)

Co announced that operations resumed on Saturday, February 20, 2010 at midnight at the three operating units Orcopampa, Uchucchacua and Antapite, after the conclusion of a strike that began on February 13, 2010. The strike was promoted by personnel from the Company and contractors who demanded a review of workers' profit sharing from years 2006 - 2008, in addition to receiving financial information for 2009, prior to the Company reporting annual results to the market, in order to discuss profit sharing.

09:36

SLB Schlumberger pushes to modest gap down highs after holding initial test of the 60.00 support area directly off the open (60.35 -3.53) -Update- -Technical-

Entire daily support zone comes into play from 58.00-60.00.

09:35

MTX Minerals Tech approves $75 million share repurchase program (49.00 +0.56)

09:33

QQQQ Nasdaq Comp outperforms off open and edges above Friday high, stalls near first level resistance zone at 2252/2259 -- session high 2251.68 -Technical-

09:31

CTFO China TransInfo Tech raises $10 mln in registered direct offering (6.69 -0.08)

Co announces it entered into a definitive agreement with its 10% institutional shareholder SAIF Partners III to sell in a registered direct offering an aggregate of 1,564,945 shares of its common stock at a price of $6.39 per share for gross proceeds of approx $10 mln.

09:30

ICOP ICOP Digital and L-3 Communications Mobile-Vision resolve patent litigation (0.35 +0.03)

Co announced that it has resolved all currently pending litigation with L-3 Communications Mobile-Vision (LLL). ICOP maintains, and continues to maintain, that it does not infringe United States Patent No. 7,119,832. All litigation between the parties has been dismissed with prejudice and the ICOP 20/20, 20/20-W, 20/20 VISION, the wireless microphone and base remain available for purchase from ICOP. The terms of the resolution are confidential.

09:30

HTCO Hickory Tech awarded SOCRATES contract (8.70 +0.01)

Co announced it has been awarded a three-year contract to provide Internet, data, VoIP and video conferencing services to 69 schools and libraries within a distance-learning network spanning across a 12-county region in south central Minnesota. The contract, which is effective July 1, 2010, totals more than $4 million over three years. HickoryTech will install, support and manage the telecommunications infrastructure to the schools and libraries in the SOCRATES network with members across south central Minnesota.

09:29

NAVI NaviSite announces sale of Lawson/Kronos managed application services business for $56 mln (2.93 )

Co announced the sale of its Lawson / Kronos Application Services business to Velocity Technology Solutions, Inc. for $56 mln in cash. All current NaviSite Lawson / Kronos customers will be transferred to Velocity as part of the transaction. Velocity will also assume NaviSite's lease of the Minneapolis data center where the services are hosted, managed, and supported. The transaction is effective immediately.

09:20

DSGX Descartes launches conditional voluntary cash tender offer to acquire all outstanding shares of Porthus at a price of EUR 12.50 per share (5.90 )

Co launched a conditional voluntary cash tender offer to acquire all outstanding shares of Zemblaz NV (NYSE Alternext Brussels:ALPTH) (formerly denominated Porthus NV, "Porthus"), a provider of global trade management solutions, at EUR 12.50 per share, as well as all outstanding warrants of Porthus. On December 14, 2009, Descartes announced that Dexxcartes had filed with the CBFA (the Belgian banking and finance supervisory authority) its intention to launch the offer. The cash offer price for outstanding warrants is EUR 12.33 per warrant issued pursuant to Porthus' April 21, 2000 warrant plan and EUR 20.76 per warrant issued pursuant to Porthus' November 7, 2001 warrant plan. As of December 11, 2009, Porthus had 2,348,790 outstanding shares and 23,759 warrants convertible into 71,277 additional shares. Depending on the number of warrants exercised for shares prior to closing, the aggregate consideration payable by Dexxcartes as part of the offer would be between ~EUR 29.7 mln (equivalent to approximately ~$40.5 mln) and EUR 30.3 mln (equivalent to ~$41.3 mln). The consideration will be paid by Dexxcartes from its available cash on-hand.

09:17

ORCD The Orchard names Brad Navin CEO (1.66 )

Co announced that current interim CEO Brad Navin has been appointed CEO and a director of the company. Navin was selected after Board Chairman Michael Donahue led a search committee to evaluate candidates and identify the cco's new leader. The search committee began this process in October 2009.

09:17

DUCK Duckwall-ALCO Stores announces its Board of Directors has named Richard Wilson as President and CEO, effective Feb 22, 2010, replacing Lawrence Zigerelli, who has resigned (14.96 )

09:13

OTEX Open Text to acquire Nstein Technologies (47.67 )

Co announced that they have entered into a definitive agreement by which Open Text will acquire all of the issued and outstanding common shares of Nstein through an Nstein shareholder-approved amalgamation with a subsidiary of Open Text under the Companies Act (Quebec). Based on the terms of the definitive agreement, Nstein shareholders will receive for each Nstein common share, CDN $0.65 in cash, unless certain eligible shareholders otherwise elect to receive a fraction of an Open Text TSX traded common share, having a value of CDN $0.65 based on the volume weighted average trading price of Open Text TSX traded common shares in the 10 trading day period immediately preceding the closing date of the acquisition. This purchase price represents a premium of approximately 100 percent above the 30 trading day average closing price of Nstein's common shares. The transaction is valued at approximately CDN $35 mln.

09:07

On The Wires

PositiveID (PSID), in conjunction with its development partner RECEPTORS announces that it has successfully completed Phase I development of its rapid virus detection system, a non-invasive, point-of-care test to test patient samples and identify various forms of influenza within minutes. Phase II of the development, which the Company expects to complete by the end of 2010, is planned to launch in February 2010... Synaptics (SYNA) enters the home appliance market and announces it is providing the capacitive touch control panel solution for the new Samsung Hauzen ZERO air conditioner.

09:01

ITT ITT Industries board approves $0.25 share dividend; Increase of 18% (51.33 )

09:00

PWER Power-One announces digital power technology patent license with Lineage Power (4.15 )

Co and Lineage Power announced that they entered into a non-exclusive, worldwide, Field of Use agreement for DPT patents from Power-One. The agreement expands the market for Power-One's DPT and Lineage Power's leading line of DC-DC point-of-load converters with the new digital DLynx Series. Lineage Power will leverage the new license agreement in the digital DLynx family of 3A to 40A POLs compliant with the Power Management Bus communications protocol.

08:52

SON Sonoco Products to increase European paperboard prices (29.68 )

Co will increase prices for all uncoated recycled paperboard grades in all European markets by 50 Euro, or 40, per metric tonne on all shipments effective March 8, 2010.

08:51

FSS Federal Signal: Sirit announces increased offer from Federal Signal (7.13 )

Sirit announces that it has signed an agreement with Federal Signal Corporation for the purpose of amending their previously announced agreement under which Federal Signal will acquire all of the issued and outstanding common shares of Sirit by way of plan of arrangement. Under the terms of the amended agreement, Sirit shareholders would receive, for each Common Share, $0.43 in cash (instead of $0.30 in cash under the original Federal Signal offer). All other terms and conditions remain substantially similar to those set out in the Arrangement Agreement as described in detail in the information circular mailed to Sirit shareholders on February 2, 2010 and available on www.sedar.com, except that under the amended agreement the termination fee payable to Federal Signal in certain circumstances has been increased from $1.5 million to $2.5 million.

08:45

SBLK Star Bulk acquires a capesize bulk carrier to replace the recently sold capesize Star Alpha for ~$42.5 mln (2.75 )

Co announced that it has entered into a definitive agreement to acquire a Capesize bulk carrier of ~171,000 dwt, built in 2000 in Japan, for ~$42.5 mln from a third party. The vessel will be financed through a combination of company cash and bank debt.

08:36

On The Wires

Zumiez (ZUMZ) announces that it will be closing its Everett Distribution Center and relocating this portion of its business to Corona, California. The company's headquarters, corporate offices and ecommerce division will remain in Everett, Washington... NetSol Technologies (NTWK) announces that it has signed a new agreement with a China-based finance company that has a European bank and a Chinese financial services group as partners. The client selected NetSol's NFS BI Module.

08:34

NGBF New Generation Biofuels announces agreement to replace upcoming $1.0 million licensing payment with common stock and cash (0.66 )

Co announced that on February 19, 2010, it reached an agreement with Mr. Ferdinando Petrucci and PTJ Bioenergy Holdings LTD to replace the upcoming $1,000,000 cash payment for its technology license due in equal installments on February 20 and March 20, 2010 with 1,100,000 shares of the Company's common stock and $120,000 in cash.

08:33

WLT Walter Energy announced that Victor P. Patrick will retire (79.70 )

Co announced today that Victor P. Patrick has informed the Board of Directors that he wishes to retire in order to spend more time with his family and attend to other priorities. In light of his pending retirement, Mr. Patrick has also informed the Board that he will not be seeking re-election to the Board in April. Mr. Patrick will continue to serve as the Chief Executive Officer, Chief Financial Officer and General Counsel of the Company until his successors to those positions are named.

08:32

VCI Valassis misses by $0.05, misses on revs; reaffirms FY10 EPS guidance (26.54 )

Reports Q4 (Dec) earnings of $0.48 per share, $0.05 worse than the First Call consensus of $0.53; revenues fell 3.4% year/year to $605 mln vs the $615.1 mln consensus. Co reaffirms guidance for FY10, sees EPS of $2.48 vs. $1.80 consensus. "We expect value-oriented media to maintain a positive position as more consumers adopt a savings-oriented lifestyle. We reiterate 2010 guidance of approximately $280 million in adjusted EBITDA, $2.48 in diluted cash EPS, and $25 million in capital expenditures. When we announce first-quarter 2010 earnings, we expect to update 2010 annual guidance for diluted cash EPS based on how the aforementioned settlement proceeds are deployed."

08:31

NOC Northrop Grumman to expand Salt Lake City manufacturing facility (61.21 )

Co's Navigation Systems division has recently broken ground on a facility expansion designed to increase factory output and better serve its commercial, defense and national security customers. Co's 225,000 square foot Salt Lake City facility, located on West North Temple Road, will be expanded by 50,000 square feet to accommodate growth across multiple programs. The Salt Lake City plant builds and tests highly precise navigation systems, gyroscopes and accelerometers for both military and commercial platforms and also features a highly automated circuit card assembly operation.

08:31

TNL Technitrol names Daniel M. Moloney CEO (4.38 )

Co announced that its board has named Daniel M. Moloney as the co's next CEO, replacing James M. Papada, III, who is retiring, pursuant to a plan announced to the board in 2008.

08:31

DRRX Durect and Nycomed amend POSIDUR license agreement to separate funding and control of U.S. and E.U. clinical programs and to expand territory

The co announces that Nycomed and DURECT have amended the Development and License Agreement entered into between the parties in 2006 covering the development and commercialization of POSIDUR (also known as SABER-Bupivacaine or OPTESIA), an investigational drug for the treatment of post-surgical pain. The amendment provides DURECT with final decision-making authority over clinical trials intended for the U.S. registration of POSIDUR and Nycomed with decision-making authority over clinical trials for the E.U. and other countries licensed to it. DURECT will have funding responsibility for all current and future clinical trials intended for U.S. registration of POSIDUR and, commencing April 1, 2010, Nycomed will have sole funding responsibility for all clinical trials intended for E.U. registration of OPTESIA (Nycomed's brand name for this drug candidate). The parties are not altering the final decision making authority and financial responsibility for the remainder of the development activities, such as the non-clinical and CMC activities, which will continue to be jointly managed and funded by DURECT and Nycomed. The amendment further expands the territories licensed to Nycomed to include China, Hong Kong, Malaysia, Philippines, Singapore, Taiwan, Vietnam, Thailand, Indonesia, India and Venezuela. DURECT retains full ownership of POSIDUR in the U.S., Canada, Japan and other territories not granted to Nycomed.

08:27

BPZ BPZ Energy completes seventh Corvina oil well; Issues operations update for Block Z-1 (7.53 )

Co announces the completion of the CX11-17D well, the co's seventh oil well in the Corvina field. The 17D well was placed into long term testing at an initial production rate (IPR) of approximately 2,000 barrels of oil per day (bopd). In addition, the co has commenced drilling of the CX11-22D well in Corvina, resumed drilling the A-15D well at Albacora, and has received authorization to resume well testing from the A-14XD well in Albacora. Corvina The CX11-17D well, the co's seventh oil well in the Corvina field, was successfully completed and placed into production at an initial production rate (IPR) of approximately 2,000 barrels of oil per day (bopd), with normal gas-oil ratio and no formation water. Well 17D has an estimated net oil pay of approximately 225 feet. The co has initially perforated two sets of sands totaling approximately 80 ft, leaving the remaining pay which may be perforated at a later date.

08:20

LECO Lincoln Electric beats by $0.02, beats on revs (51.65 )

Reports Q4 (Dec) earnings of $0.65 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.63; revenues fell 12.2% year/year to $462 mln vs the $454.3 mln consensus. "We are pleased that our fourth quarter results demonstrated another important sequential improvement in profitability. While the 2009 economic crisis created tremendous challenges to the organization, our management and dedicated employees responded exceptionally well. The quick and decisive actions we took throughout 2009 to rationalize our operations, reduce our overall cost structure and introduce new products to the market generated improved results throughout 2009 and will provide solid momentum going into 2010."

08:10

On The Wires

RADVision (RVSN) and IMS networks announce that RADVISION has been granted a U.S. patent, numbered 7,631,039, for initiation and support of video conferencing using instant messaging. In accordance with the patent, popular instant messaging services and applications can be used to automatically initiate video conferences providing a significant convenience to business and personal users... The state of Oklahoma has signed a new contract with eGovernment firm Oklahoma Interactive, part of the eGovernment firm NIC's (EGOV) family of companies, to manage its official government portal for up to five years. The contract has an initial term of one year with four, single-year renewal options... JDA Software Group (JDAS) announces that Silicon Image (SIMG) has selected Planning On Demand, a solution developed by i2 Technologies, to drive integrated demand and supply planning across its global supply chain... TerreStar Corporation (TSTR) announces that the initial on-orbit testing of Ground Based Beam Forming is complete. The TerreStar GBBF system is the first two-way GBBF system to employ both ground based calibration and beam forming... Catalyst Pharmaceutical Partners (CPRX) will hold a conference call on Feb. 23 to discuss its initial development plans for CPP-115. Patrick McEnany, CPRX's Chief Executive Officer, will host the call... Wyndham Worldwide (WYN) announces that its Exchange & Rentals business unit has agreed to acquire Hoseasons Holdings from HgCapital and a number of individual parties. The acquisition price is approximately $60 mln, net of estimated cash acquired.

08:05

KTOS Kratos Defense and Security awarded $2 mln in new security system, video surveillance and fire safety Systems integration work (12.05 )

08:05

ENDP Endo Pharm beats by $0.13, beats on revs; guides FY10 EPS above consensus, revs above consensus (20.61 )

Reports Q4 (Dec) earnings of $0.81 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.68; revenues rose 12.7% year/year to $391.4 mln vs the $378.5 mln consensus. Co issues upside guidance for FY10, sees EPS of $3.15-3.20, excluding non-recurring items, vs. $2.87 consensus; sees FY10 revs of $1.55-1.60 bln vs. $1.53 bln consensus.

08:04

CEMJQ Chemtura to increase its capacity of antioxidants and UV stabilizers (1.34 )

Co entered into a number of new agreements through its worldwide subsidiaries to increase its capacity of antioxidants and UV stabilizers in order to position itself for worldwide growth and to more effectively serve its global customers. The actions support Chemtura's overall objective of utilizing its proprietary technology to expand its presence in the growing global markets. These actions build upon the earlier announcements of Chemtura's geographical expansion in the Middle East.

08:03

OIS Oil States beats by $0.28, beats on revs (37.67 )

Reports Q4 (Dec) earnings of $0.78 per share, $0.28 better than the First Call consensus of $0.50; revenues fell 41.3% year/year to $528.7 mln vs the $444 mln consensus. "Our accommodations business continued to show substantial year-over-year growth due to investments in the Canadian oil sands region made over the last several years," stated Cindy B. Taylor, Oil States' President and Chief Executive Officer. "This strength in our accommodations business helped mitigate the severe declines in our tubular services, rental tool and drilling businesses."

08:03

VRX Valeant Pharmaceuticals beats by $0.08, beats on revs; reaffirms FY10 EPS guidance (36.97 )

Reports Q4 (Dec) earnings of $0.67 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.59; revenues rose 31.4% year/year to $240.5 mln vs the $221.7 mln consensus. Co reaffirms guidance for FY10, sees EPS of $2.45-2.70, excluding non-recurring items, vs. $2.57 consensus. Product sales in the Specialty Pharmaceuticals segment were $119.3 million in the fourth quarter of 2009, as compared to $89.2 million in the fourth quarter of 2008, an increase of 34%. At constant exchange rates, Specialty Pharmaceuticals product sales increased 27%.

08:02

WPI Watson Pharm files FDA application for generic Aplenzin ER (39.11 )

Co announces that its subsidiary, Watson Laboratories, filed an Abbreviated New Drug Application with the U.S. Food and Drug Administration seeking approval to market its 174 mg and 348 mg strength bupropion hydrobromide tablets prior to the expiration of patents owned by Biovail. Watson's 174 mg and 348 mg strength bupropion hydrobromide tablet products are generic versions of Biovail's Aplenzin ER, which is indicated for major depressive disorder.

08:02

OVRL Overland Storage Announces Private Placement of Approximately $12.0 Million of Equity Securities (2.45 )

Co announces it has signed definitive agreements for a private placement of 794,659 shares of Convertible Preferred Stock of the Company and Warrants to purchase up to 6,373,266 shares of Common Stock for a gross purchase price of approximately $12.0 million on February 18, 2010. The Preferred Stock is initially convertible into 4,521,648 shares of Common Stock. The Warrants will have an initial exercise price of $2.583 per share which will expire February 22, 2015 and are exercisable in whole or in part, at any time prior to expiration.

08:02

CX CEMEX S.A. to receive $100 mln in cash proceeds from joint venture asset sale in the U.S. (9.77 )

Co announces that its 49.9% owned Ready Mix USA joint venture has completed the sale of 12 active quarries and certain other assets to SPO Partners & Co. for $420 mln. The active quarries, which consist of 2 granite quarries in Georgia, 9 limestone quarries in Tennessee, and 1 limestone quarry in Virginia, are operated by Ready Mix USA and were deemed non strategic by CEMEX and Ready Mix USA, its joint venture partner. The proceeds from the sale will be partly used to reduce debt held by Ready Mix USA LLC, and to effect a cash distribution of approximately $100 mln to each joint venture partner, including CX. CX, which does not consolidate the results of Ready Mix USA, expects to use its cash proceeds from this divestment to reduce outstanding debt and to enhance its liquidity position.

08:02

MASI Masimo declares $2.00 special cash dividend (26.13 )

08:02

VAR Varian Medical awarded a patent for improving X-Ray Shielding (48.36 )

The co announces it has been awarded a patent for improved shielding in X-ray tubes. It is the company's 100th X-ray tube patent from the United States Patent Office. The new Patent # 7661445 entitled "Shielded Cathode Assembly" applies to internal shielding in X-ray tubes. Where lead is normally used in the tube housing to protect from radiation leakage, the new patent involves moving the shielding, now made of tungsten, inside the X-ray tube, closer to the point of X-ray development. "By moving the shielding as close to the X-ray source as possible, this innovative technology improves the radiation shielding, reduces the tube weight and moves toward a 'greener' product by using less lead." said Dennis Runnoe, Vice President of Varian's X-Ray Products Research and Development group.

08:02

IO ION Geophysical announces its seismic imaging subsidiary, GX Technology (GXT), has been awarded a multi-year contract with Petroleos Mexicanos (4.41 )

Co announces its seismic imaging subsidiary, GX Technology (GXT), has been awarded a multi-year contract with Petroleos Mexicanos, the national oil company of Mexico. Under this contract, GXT will be delivering a broad range of seismic data processing and imaging services for multiple offshore and onshore projects during the next three years. In order to execute the work, GXT has established a local presence in Villahermosa, Mexico where PEMEX's exploration headquarters are located.

08:01

COMV Comverge appoints R. Blake Young president and CEO (10.14 )

Co announced that R. Blake Young, a member of the co's board since 2006 and a 25-year industry veteran, has been appointed president and CEO, effective immediately.

08:01

NCT Newcastle Investment announces exchange offer for its preferred stock (2.20 )

Co announces that it has commenced an offer to exchange shares of the Company's Common Stock and cash for up to 1,725,000 shares of its outstanding 9.75% Series B Cumulative Redeemable Preferred Stock, 1,104,000 shares of its outstanding 8.05% Series C Cumulative Redeemable Preferred Stock, and 1,380,000 shares of its outstanding 8.375% Series D Cumulative Redeemable Preferred Stock.

08:01

CELL Brightpoint increases existing share repurchase program by $25 mln (7.21 )

Co announces that its board of directors has approved the increase of its previously announced share repurchase plan by an additional $25 mln. The Amended Share Repurchase Program was increased to an aggregate of $105 mln and $76.3 mln of share repurchases have been already completed. Under the Amended Share Repurchase Program and with the $3.7 remaining available under the previously existing share repurchase program, a total of up to an additional $28.7 mln of share repurchases are available under the Amended Share Repurchase Program.

08:01

SLRY Salary.com announces CEO transition (2.48 )

The co announces that Kent Plunkett has announced his resignation as chief executive officer, effective immediately. Mr. Plunkett will continue to serve as chairman of the board. Salary.com also announced that its board of directors has appointed Paul R. Daoust as interim chief executive officer while it conducts a formal search for a permanent chief executive officer.

08:01

IMOS Chipmos Technology received the initial payment of approximately $33 million from escrow agent for the sale of accounts receivable (0.68 )

The co announces that it has received the initial payment of approximately $33 million from escrow agent for the sale of accounts receivable for testing and assembly services provided to Spansion in the amount of approximately $66 million to $70 million.

08:00

ELOS Syneron Medical receives FDA clearance for expanded indications of eMatrix sublative rejuvenation system (9.45 )

Co announces expanded clearance from the FDA for the eMatrix Sublative Rejuvenation system for the treatment of fine lines and facial wrinkles.

08:00

GTCB GTC Biotherapeutics enters into agreement to receive $7 mln in financing from LFB (1.09 )

Co announced that it has entered into an agreement with its strategic partner, LFB Biotechnologies (Les Ulis, France), pursuant to which LFB has agreed to provide $7 mln of new loan financing to GTC. The financing will be in the form of a 4%, 36-month secured term loan with a single payment of principle and interest at maturity. The transaction is expected to close on February 24, 2009 and is subject to customary closing conditions.

08:00

GENZ Genzyme receives notice of Icahn Partners' nomination of directors (55.97 )

Co announces it has received notice from Icahn Partners LP and certain of its affiliates of their intention to nominate four individuals to Genzyme's board of directors at the company's 2010 annual meeting of shareholders. They are Mr. Carl C. Icahn, Dr. Steven Burakoff, Dr. Alexander J. Denner and Dr. Richard Mulligan. The Nominating and Governance Committee of Genzyme's board will evaluate the nominees and make a recommendation that is in the best interests of all of the company's shareholders. Genzyme's board consists of nine directors, all of whom are up for election at the 2010 annual meeting scheduled for May 20.

07:57

SPY E~mini index futures push to fresh GLOBEX overnight session highs & above the highs of last week heading into the 8:00a.m ET hour -Technical-

S&P 500 (ES) @ 1111.75 +5.50 or +0.50%

NDX 100 (NQ) @ 1930.50 +11.25 or +0.60%

INDU 30 (YM) @ 10425 +47 or +0.45%

07:55

BPAX BioSante reports 'positive' LibiGel safety data in Phase III program (1.82 )

Co announces additional positive safety data in its ongoing LibiGel Phase III clinical development program. For the second time, unblinded data have been reviewed by the independent DMC of the LibiGel Cardiovascular and Breast Cancer Safety Study. Based on this review, the DMC once again unanimously recommended continuation of the study as described in the FDA-agreed LibiGel safety study protocol, with no modifications. BioSante reported that the DMC reviewed all unblinded adverse events in the safety study including all "serious adverse events" and all "adverse cardiovascular and breast cancer events" in almost 1,200 women-years of exposure. To date, there have been no deaths, only six adjudicated cardiovascular events and only four breast cancers reported. Therefore, in view of the DMC recommendation, the BioSante LibiGel Phase III development program will continue as planned. BioSante targets mid-2011 for submission to the FDA of a new drug application.

07:37

On The Wires

Celera Corporation (CRA) provided information on litigation filed by Berkeley HeartLab, Celera's wholly-owned subsidiary, against Health Diagnostic Laboratory, and several former employees of BHL, including five sales representatives who left the Company on January 1, 2010, and two former laboratory employees. BHL has filed a complaint seeking injunctive relief and damages in the United States District Court for the Eastern District of Virginia. In the litigation, BHL has asserted a number of contractual, tort and statutory claims against the defendants, including claims for misappropriation of trade secrets and tortious interference with BHL's client relationships... Amkor Technology (AMKR) announced that the International Trade Commission has reversed a finding by the Administrative Law Judge on the issue of whether a certain invention constitutes prior art to Amkor's asserted patents in its patent infringement case against Carsem. The Commission remanded the investigation to the ALJ to make further findings in light of the Commission's ruling by March 22, 2010, and extended the target date for completion of the investigation to July 20, 2010... SinoCoking Coal and Coke Chemical Industries (SCOK) announces that its plans to consolidate local area coal mines as a part of the government-directed consolidation of the coal mining industry in the Pindingshan region of Henan Province, China... FirstMerit Corporation (FMER) announces that it has acquired, through its subsidiary FirstMerit Bank, N.A., the banking operations of George Washington Savings Bank, the subsidiary bank of George Washington Savings Bancorp through a purchase and assumption agreement with the Federal Deposit and Insurance Corporation... Sikorsky Aerospace Services, a subsidiary of United Technologies (UTX), announcs that at Heli-Expo that the U.S. State Department has entered into an IDIQ agreement to purchase up to 110 modernized S-61 aircraft for passenger and cargo transport missions in support of its worldwide operations... Pall Corporation (PLL) announces that it has signed an agreement with Carson Helicopters. Pall will supply its Centrisep engine advanced protection systems to support a joint modernization program for the Sikorsky S-61 helicopter... CONSOL Energy (CNX) announces a restructuring plan at its Fola Surface and Preparation Plant operations near Bickmore, W. Va., that will keep 301 people employed as work schedules are adjusted from a continuous operation to a traditional five-day work week.

07:37

ENZN Enzon Board of Directors Appoints Executive Committee (9.42 )

Co announced that Jeffrey Buchalter has resigned as CEO and director of Enzon, effective immediately, and has been replaced by a newly formed executive committee of the board. This new committee will be chaired by Alex Denner, Ph.D., Chairman of the board, and include Directors Richard Mulligan Ph.D. and Rolf Classon. The committee will serve the functions of the chief executive for the co until such time as a CEO is named. The committee will also serve as the search committee. Mr. Buchalter has served on the co's board since 2004 and as CEO since January 2005.

07:36

LEI Lucas Energy and Terra Energy & Resource Technologies announce joint development of oil and gas properties in Texas commences (0.59 )

The co and Terra Energy & Resource Technologies are initiating three projects for development of oil and gas properties in Atascosa County, Texas, utilizing the application of Terra's innovative technologies on the Lucas Energy licensed territories. Lucas Energy accepted the proposal of Terra Energy & Resource Technologies for the application of its STeP and NAGS technologies, according to which Terra will survey three separate leases in Texas. Pursuant to this joint venture, Terra will provide its technology services to Lucas Energy on a substantially reduced fee basis, and Lucas Energy is to assign to Terra a 5% free-carried-interest in connection with the oil and gas production from any additional recompletions, or new drilling from the three properties, and grant Terra up to 30% in non-promoted participation interest.

07:33

GEO Geo Group beats by $0.01, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY10 EPS in-line, revs below consensus (19.17 )

Reports Q4 (Dec) earnings of $0.40 per share, $0.01 better than the First Call consensus of $0.39; revenues rose 21.2% year/year to $310.8 mln vs the $311.9 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.32-0.34 vs. $0.32 consensus; sees Q1 revs of $286-291 mln vs. $286.32 mln consensus. Co issues mixed guidance for FY10, sees EPS of $1.36-1.46 vs. $1.46 consensus; sees FY10 revs of $1.11-1.13 bln vs. $1.2 bln consensus. "We are pleased with our strong fourth quarter and year-end earnings results, which continue to be driven by sound operational and financial results from our diversified business units. Our initial projections for 2010 take into account additional expenses related to our recent refinancing transactions as well as the carrying costs of our capital expansion projects."

07:32

CLSN Celsion announced proposal has been approved for funding (2.94 )

Co announced that a proposal entitled "Application of MRI-guided HIFU to Improve Cancer Chemotherapy with Temperature-Sensitive Targeted Nanomedicines (HIFU-CHEM)" submitted to the Center for Translational Molecular Medicine (CTMM) has been approved for funding. The project has a 6.4 million Euro budget, which is planned to commence in May 2010, and will fund 48 months of research and development costs supporting thermally sensitive liposomes, including ThermoDox in combination with MR-HIFU (Magnetic Resonance guided High Intensity Focused Ultrasound) as a therapy to non-invasively treat both liver tumors and secondary bone tumors.

07:31

GEO Geo Group announces $80.0 million stock repurchase program (19.17 )

07:30

FACE Physicians Formula announces appointment of Jeff Berry as CFO (2.16 )

Co announced the appointment of Jeff Berry as the co's CFO. Mr. Berry has served as the co's Interim CFO since May 29, 2009. He replaced Joseph Jaeger, the co's prior CFO.

07:30

FRPT Force Protection appoints COO (5.33 )

Co announced an organizational change to its management structure, the board appointed Randy Hutcherson COO effective February 18, 2010. He will continue to report to Chairman and CEO Michael Moody and will assume responsibility for the day to day operations for Force Protection. Mr. Hutcherson joined Force Protection as Executive Vice President, Programs, Global Sales and Business Development in April 2009.

07:28

SILC Silicom Limited received a series of orders for its 10Gbps external Intelligent Bypass Switch (10.29 )

Co received a series of orders from an application delivery company for its 10Gbps external Intelligent Bypass Switch (IBS) and that the customer has also provided Silicom with a forecast indicating the potential for a flow of repeat orders.

07:27

BEST Shiner promoted Qingtao Xing to the position of President and CEO (1.39 )

Co announced it has promoted Qingtao Xing to the position of President and CEO. Shiner's former CEO Mr. Jian Fu will remain with Shiner as the Executive Vice President of Manufacturing.

07:23

SA Seabridge Gold announces 2.5 mln common share offering (23.54 )

07:22

TW Towers Watson announces 750,000 share repurchase program (44.52 )

07:21

NVS Novartis AG receives FDA approval of Menveo, a vaccine to prevent meningococcal disease (55.26 )

Co announced that Menveo, a quadrivalent meningococcal conjugate vaccine was approved by the FDA for active immunization to prevent invasive meningococcal disease caused by Neisseria meningitidis serogroups A, C, Y and W-135 in people 11 to 55 years of age.

07:15

BPSG Broadpoint Gleacher Securities names Eric Gleacher CEO; Lee Fensterstock steps down (4.45 )

Co announces that Chairman Eric Gleacher has assumed the additional role of Chief Executive Officer of the company following a decision by Lee Fensterstock, the company's former Chief Executive Officer, to step down to pursue other interests. Fensterstock has also resigned from the Board of Directors of the company. Peter McNierney will continue as President and Chief Operating Officer.

07:06

USAP Universal Stainless/Alloy announces intention to elect Dennis Oates to additional position of Chairman of the Board (19.84 )

Co announces its Board of Directors, in anticipation of the impending retirement from the Board of its current Chairman, Clarence McAninch, intends to elect Dennis Oates, the Company's President and Chief Executive Officer, to the additional position of Chairman. Mr. McAninch will retire from the Board at the Shareholders' Meeting in May and relinquish his Chairmanship pursuant to the Company's policy on mandatory age limitations for Directors. Pursuant to the Company's policy, individuals may not be nominated for election as a Director of the Company after reaching the age of 75.

07:05

GTE Gran Tierra Energy announces 2009 year-end reserves; approximately 5.7 million barrels of working interest oil was produced (5.41 )

The co announces the results of an independent reserve evaluation of the company's reserves by GLJ Petroleum Consultants effective December 31, 2009. Year-end 2009 Highlights (net after royalties): Approximately 5.7 million barrels of working interest oil was produced in 2009; Proved oil reserves increased 14.6 % to approximately 22.1 million barrels (SEC compliant); Proved plus probable (2P) oil reserves are approximately 27.9 million barrels (no SEC equivalent in 2008); Proved plus probable plus possible (3P) oil reserves are approximately 39.4 million barrels (no SEC equivalent in 2008); Approximately 0.1 billion cubic feet of working interest gas was produced in 2009; Proved gas reserves increased 61.0 % to approximately 1.9 billion cubic feet (SEC compliant); Proved plus probable (2P) gas reserves are approximately 3.6 billion cubic feet (no SEC equivalent in 2008); Proved plus probable plus possible (3P) gas reserves are approximately 38.1 billion cubic feet (no SEC equivalent in 2008).

07:03

IPSU Imperial Sugar and PureCircle form joint venture to develop natural sweetening solutions for the beverage and food sectors (15.02 )

Imperial Sugar Company and PureCircle Limited announce the launch of Natural Sweet Ventures, a joint venture created between Imperial, a marketers of refined sugar in North America, and PureCircle, a producer of stevia products. The exclusive North American joint venture will combine the natural benefits of both sugar and stevia to develop reduced-calorie natural sweet product solutions for the beverage and food industries. This will provide Natural Sweet customers with flexibility in developing innovative applications. Natural Sweet Ventures' product line will deliver benefits of pure cane sugar and stevia to manufacturers across North America through a broad portfolio: -- Liquid form - for the beverage industry as a liquid sweetener option -- Crystallized form - for syrup, spray-on, dairy, and many baking and confection applications -- Variety of calorie reduction levels - allowing formulation to specific calorie levels that best suit the application -- A sugar option a lower glycemic index, no GMO (genetically modified organism), temperature and pH stable, and uniform dispersion of both sugar and stevia.

07:03

CPB Campbell Soup reports EPS in-line, misses on revs; reaffirms FY10 EPS guidance (33.93 )

Reports Q2 (Jan) earnings of $0.74 per share, in-line with the First Call consensus of $0.74; revenues rose 1.5% year/year to $2.15 bln vs the $2.23 bln consensus. Co reaffirms guidance for FY10, sees EPS of $2.41-2.45 vs. $2.46 consensus. Volume and mix subtracted 2 percent; price and sales allowances added 1 percent; increased promotional spending subtracted 2 percent; currency added 4 percent. Gross margin was 40.5 percent compared with 39.4 percent a year ago.

07:02

LOW Lowe's beats by $0.02, beats on revs; guides Q1 EPS below consensus; guides FY11 EPS in-line (23.13 )

Reports Q4 (Jan) earnings of $0.14 per share, $0.02 better than the First Call consensus of $0.12; revenues rose 1.7% year/year to $10.17 bln vs the $10.01 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.27-0.29 vs. $0.33 consensus. Co issues in-line guidance for FY11, sees EPS of $1.30-1.42 vs. $1.37 consensus. In addition, the Board of Directors has authorized the repurchase of up to $5 billion of the company's common stock. Although this new repurchase authorization has no expiration, the company expects to use the full amount over the next three years.

07:02

FRG Fronteer Development reports new drilling expands Halilaga copper-gold porphyry in northwestern Turkey (4.70 )

Co announces that drilling has further defined the footprint of copper-gold mineralization at the Halilaga porphyry deposit in northwestern Turkey. Teck Resources Limited's Turkish subsidiary, ("TMST"), Fronteer's 60% joint venture partner and project operator, has provided results from its recently completed drill program, which focused on Halilaga's Central Zone (also known as the Kestane Zone). Drill highlights include: - 0.72 grams per tonne gold and 0.67% copper over 180 metres, including 1.11 grams per tonne gold and 1.25% copper over 43.4 metres, in HD-37; - 0.40 g/t gold and 0.70% copper over 103.0 metres, including 0.62 g/t gold and 1.92% copper over 22.3 metres, in HD-38; - 0.25 g/t gold and 0.27% copper over 401.9 metres, in HD-40; - 0.59 g/t gold and 0.50% copper over 159.5 metres, including 0.86 g/t gold and 0.83% copper over 35.0 metres, in HD-41; - 0.28 g/t gold and 0.31% copper over 253.3 metres, including 0.43 g/t gold and 1.29% copper over 19.8 metres, in HD-50. Four of the five intercepts start within 10 metres of surface and reinforce the occurrence of shallow, high-grade supergene mineralization that locally reaches 40 metres in thickness.

07:02

SVM Silvercorp Metals to acquire advanced stage silver-lead-zinc project in British Columbia, Canada (6.54 )

Co has signed a definitive purchase agreement with Silver Standard Resources Inc. (SSRI) to purchase a 100% interest in the Silvertip silver-lead-zinc project covering 216 km2 in northern British Columbia, Canada. Total consideration for the project is CDN$15-million with up to 50% to be paid in Silvercorp common shares and the balance in cash. The closing date is expected on or before February 26, 2010.

07:01

GSK GlaxoSmithKline: ViiV Healthcare presents new data from HIV/AIDS portfolio demonstrating research advances and commitment to patient care (38.26 ) -Update-

At the 17th Conference on Retroviruses and Opportunistic Infections (CROI), ViiV Healthcare presented new data across its broad range of investigational and current medicines for the treatment of HIV/AIDS. Highlighted data at the conference included an oral presentation on the investigational integrase inhibitor, S/GSK1349572, as well as data presentations on SELZENTRY (maraviroc) and EPZICOM? (abacavir/lamivudine). Overall, more than 24 abstracts were presented during the conference relating to ViiV Healthcare's current medicines and pipeline. These presentations underscore the company's commitment to enhancing its knowledge base for its current medicines, tackling major challenges in treating HIV/AIDS, and providing patients and physicians with data that can lead to more informed prescribing decisions.

07:01

ALNY Alnylam Pharma initiates Phase IIb clinical trial of ALN-RSV01 in adult lung transplant patients infected with respiratory Syncytial Virus Infection (16.98 )

Co announces that it has initiated a Phase IIb trial in adult lung transplant patients with ALN-RSV01, an RNAi therapeutic for the treatment of respiratory syncytial virus infection. The Phase IIb trial is a multi-center, global, randomized, double-blind, placebo-controlled study in RSV-infected lung transplant patients with a primary endpoint of a reduction in incidence of new or progressive BOS. Secondary endpoints include assessments for safety and additional measurements of efficacy, including: anti-viral activity; recovery of lung function, as monitored by the proportion of patients with forced expiratory volume in the first second, of greater than 80% of their pre-infection baseline value; and, improvement in RSV symptoms as measured by mean cumulative daily total symptom score. The trial is expected to enroll 76 patients who will be randomized in a one to one, drug to placebo ratio. All patients will receive standard of care, and those receiving ALN-RSV01 will have drug administered as a 0.6 mg/kg dose by inhalation using an investigational eFlow Nebulizer System once daily for five days.

07:00

SONO SonoSite announces preliminary results of Its tender offer to repurchase up to $100 mln common stock (29.19 )

Co announced that based on the preliminary analysis by the depositary, an aggregate of 2,973,050 shares were properly tendered and not withdrawn, including approximately 1,073,209 shares that were tendered through notice of guaranteed delivery, at prices at or below $30.00. Accordingly, pursuant to the terms of the Offer to Purchase, the Letter of Transmittal and applicable securities laws, SonoSite expects to accept for payment up to an aggregate of 2,793,050 shares of its common stock at a purchase price of $30.00 per share.

06:54

S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +3.30.

06:54

Asian Markets

Nikkei...10400.47...+276.90...+2.70%. Hang Seng...20377.27...+483.30...+2.40%.

06:54

European Markets

FTSE...5363.36...+5.20...+0.10%. DAX...5711.38...-10.70...-0.20%.

06:41

OC Owens Corning commences secondary offering of common stock by selling stockholder (25.22 )

Co announces it has commenced an underwritten public offering of common stock pursuant to a shelf registration statement on Form S-3 filed today with the SEC on behalf of one of its stockholders, the Owens Corning/Fibreboard Asbestos Personal Injury Trust (the "Trust"). The Trust is offering 12,261,000 shares of common stock of Owens Corning and will grant the underwriters a 30-day option to purchase up to an additional 1,839,000 shares of common stock, on the same terms and conditions, to cover over-allotments, if any.

06:33

THS TreeHouse Foods announces common stock offering to fund Sturm Foods acquisition (43.18 )

Co announces that it intends to offer, subject to market and other conditions, $100 mln of shares of its common stock pursuant to an underwritten public offering. The offering will be made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on February 16, 2010, which has been declared effective, and a preliminary prospectus supplement, filed with the Securities and Exchange Commission on February 22, 2010. TreeHouse will use the net proceeds of the offering to fund, in part, the previously announced and pending acquisition of Sturm Foods. TreeHouse expects to close the acquisition of Sturm Foods on March 2, 2010. TreeHouse intends to finance the remaining portion of the acquisition of Sturm Foods through a draw-down on its existing credit facility as well as a previously announced underwritten public offering of $400 mln aggregate principal amount of 7.750% senior notes due 2018, pursuant to a separate prospectus supplement.

06:24

MDAS MedAssets beats by $0.01, reports revs in-line (20.77 )

Reports Q4 (Dec) earnings of $0.28 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.27; revenues rose 14.3% year/year to $95.7 mln vs the $96.6 mln consensus.

06:23

CEG Constellation Energy beats by $0.05, misses on revs; reaffirms FY10 EPS in-line (34.58 )

Reports Q4 (Dec) earnings of $0.30 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.25; revenues fell 29.8% year/year to $3.4 bln vs the $4.35 bln consensus. Co reaffirms in-line guidance for FY10, sees EPS of $3.05-3.45 vs. $3.36 consensus. Co issues FY11 guidance, sees EPS of $3.45-3.85 (no consensus estimates available).

06:18

PWR Quanta Services beats by $0.04, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY10 EPS in-line, revs in-line (17.88 )

Reports Q4 (Dec) GAAP earnings of $0.21 per share, $0.04 better than the First Call consensus of $0.17; revenues rose 6.9% year/year to $985.4 mln vs the $926.2 mln consensus. Co issues downside guidance for Q1, sees GAAP EPS of $0.07 vs. $0.14 consensus (adjusted EPS of ~$0.11 is expected); sees Q1 revs of $700.0-750.0 mln vs. $837.22 mln consensus. Co issues in-line guidance for FY10, sees GAAP EPS of $0.90-1.00 vs. $0.94 consensus (adjustd EPS of $1.06-1.16 is expected); sees FY10 revs of $3.9-4.2 bln vs. $4.09 bln consensus.

04:14

On The Wires

Elbit Systems (ESLT) announces that it was awarded a follow-on contract from the Israeli Ministry of Defense for the continuation of the GROB G-120-AI trainer aircraft operation program, in service at the Air Force Flight Academy in Hatzerim; contract is valued at approx $20 mln... ASML Holding NV (ASML) announces its new FlexRay programmable illumination system is finding strong acceptance by providing chip makers with virtually unlimited illumination source tuning....

04:12

ORBK Orbotech misses by $0.09, beats on revs (8.85 )

Reports Q4 (Dec) loss of $0.15 per share, includes charges, $0.09 worse than the First Call consensus of ($0.06); revenues fell 23.1% year/year to $99.4 mln vs the $98.1 mln consensus.

01:31

COG Cabot Oil & Gas beats by $0.07, beats on revs; announces YE09 reserves 450% drill bit production replacement (41.32 )

Reports Q4 (Dec) earnings of $0.52 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.45; revenues rose 0.4% year/year to $233.5 mln vs the $226.1 mln consensus. During the third quarter call, Cabot announced its intent to complete one well per week through the end of the year in its Marcellus operation. This effort was successful although weather at year-end and a stream-crossing delay slowed several wells from being turned in line. During this period ten wells were completed with five wells flowing to sales and five wells waiting on pipeline. Co also announces that for the first time in its history total proved reserves exceeded 2 Tcfe (2.06 Tcfe) on the strength of 450% drill bit production replacement. "There is a wide range of outcomes that we have seen from our peers relating to the new SEC rules established for reserve disclosures," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "The one obvious point for Cabot is with the resource potential in our portfolio, our future ability to book significant reserves is robust." In 2009 Cabot added 463 Bcfe through its drilling operations and produced a record 103 Bcfe.

01:07

SII Smith Int'l and Schlumberger announce merger agreement; SII shareholders to receive 0.6966 shares of SLB, a value of $45.84 (37.70 )

Schlumberger (SLB) and co jointly announce that their Boards of Directors have unanimously approved a definitive merger agreement in which the companies would combine in a stock-for-stock transaction. Under the terms of the agreement, Smith shareholders will receive 0.6966 shares of Schlumberger in exchange for each Smith share. Based upon the undisturbed closing stock prices for both companies on February 18, 2010, the agreement places a value of $45.84 per Smith share. Upon closing, and reflecting the issuance of new Schlumberger shares, Smith stockholders collectively will own approx 12.8% of Schlumberger's outstanding shares of common stock. Schlumberger expects to realize incremental pretax synergies--after integration costs--of approx $160 mln in 2011 and approx $320 mln in 2012. Schlumberger expects the combination to be accretive to EPS in FY12.

01:04

AMGN Amgen: FDA classifies Prolia Complete Response submission and targets action date (57.38 )

Co announces the FDA has evaluated the content of the Amgen's Complete Response submission for Prolia in the treatment of postmenopausal osteoporosis and classified it as a Class 2 resubmission. With the Class 2 designation, the FDA set a corresponding Prescription Drug User Fee Act action date of July 25, 2010. Amgen continues to work with the FDA to determine appropriate next steps regarding its indications for Prolia.

17:02

IEP Icahn Enterprises to issue notice of redemption for all outstanding 5% cumulative pay-in-kind redeemable preferred units representing limited partner interests (46.77 -1.20)

Co announced that on Monday, February 22, 2010, it will issue a notice of redemption of its outstanding 5% cumulative pay-in-kind redeemable preferred units representing limited partnership interests in Icahn Enterprises (IEP-P) (the "Preferred Units"). The redemption date of the Preferred Units is March 31, 2010. The redemption price is $10.50 per Preferred Unit.

17:01

GXDX Genoptix and HistoRx announce licensing agreement for AQUA Technology (32.53 -0.27)

Co announced a multi-year licensing agreement for AQUA technology and several diagnostic assays based on it. GXDX has obtained exclusive commercial laboratory rights in the United States to develop and perform three solid tumor assays using HistoRx's proprietary technology for analysis of fluorescent immunohistochemistry, enabling quantitative assessment of specific biomarkers for patients with certain solid tumors.

16:51

MCY Mercury General: Fitch Downgrades Mercury General's Ratings; Outlook Stable (40.61 -0.05)

Fitch Ratings has downgraded its ratings on MCY, one notch as follows: Issuer Default Rating (IDR) to 'A' from 'A+'; Senior unsecured notes to 'A-' from 'A'; Senior secured bank debt to 'A' from 'A+'; Insurer Financial Strength (IFS) on insurance company subsidiaries to 'A+' from 'AA-'. The Rating Outlook is Stable. At the former rating levels, the Outlook was Negative.

16:46

HOLX Hologic announces settlement in patent infringement suits (16.11 -0.13)

Co announced it has entered into a settlement agreement with Ethicon Endo-Surgery (EES), a Johnson & Johnson company. The settlement agreement resolves all outstanding litigation between EES and Hologic, including two lawsuits filed by EES on October 5, 2007 and August 6, 2009 against the Company and its wholly-owned subsidiary, Suros Surgical Systems, alleging patent infringement by the ATEC and EVIVA biopsy products, as well as a lawsuit filed by Hologic on April 30, 2009 against EES, alleging patent infringement by the MAMMOTOME MR biopsy product.

16:30

OHB Orleans Homebuilders is now in default; co announces the maturity of its $350 mln senior secured credit facility (1.10 )

Co announced that, as previously disclosed, the co and its senior management have been working actively with the co's bank lenders to obtain a maturity extension of its Second Amended and Restated Revolving Credit Loan Agreement dated September 30, 2008 (the "Credit Facility"), as amended from time-to-time. Any extension or similar modification or accommodation under the Credit Facility requires the consent of 100% of the ~17 bank lenders. However, the co and its lenders under the Credit Facility were not able to obtain the necessary bank approvals to extend the maturity of the Credit Facility pursuant to the non-binding term sheet agreed to by the co with certain lenders on December 3, 2009. The co and its lenders were also unable to agree on any temporary modification of, or other accommodation under, the Credit Facility. As a result, the final maturity of the Credit Facility occurred on February 12, 2010, and the co is now in default, which entitles the lenders to all rights available to senior secured creditors. The Company does not have sufficient funds to repay the amounts outstanding under the Credit Facility. The co also noted that it was continuing to consider certain options for new or modified funding sources to continue normal operations, including in connection with an in-court or out-of-court restructuring of the co's liabilities; continuing its negotiations regarding a sale or recapitalization of the co; or obtaining a temporary modification of, or other accommodation under, the Credit Facility.

16:16

LIFE Life Technologies reaffirms FY10 EPS in-line following completion of $1.5 bln senior notes offering (50.01 +0.19)

Co reaffirms FY10 EPS of $3.30-3.50 vs. $3.39 First Call consensus following completion of $1.5 bln offering. Co said fiscal year 2010 interest expense is now expected to be between $110-120 mln, including amortization of debt issuance costs.

16:02

ORIT Oritani Financial announces adoption of plan of conversion and reorganization (13.80 -0.08)

Co adopted a Plan of Conversion and Reorganization pursuant to which the two-tier mutual holding company will reorganize to a stock holding company structure and will undertake a "second step" stock offering of new shares of common stock. As part of the reorganization, the Bank will become a wholly owned subsidiary of a to-be-formed holding company and shares of common stock of the Company held by persons other than the MHC (whose shares will be canceled) will be converted into shares of common stock of the New Holding Company pursuant to an exchange ratio designed to preserve the percentage ownership interests of such persons. The New Holding Company will also offer and sell shares of its common stock to the Bank's eligible depositors and tax-qualified employee benefit plans and in a subscription and community offering and, if necessary, a syndicated community offering, in the manner and subject to the priorities set forth in the Plan of Conversion.

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