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

BAC Bank of America breaks multi-month range lows (13.65 -0.73) -Technical-

The steady deterioration this week and today's sizeable downside extension has led to a breach of the 2010 and Nov 2009 lows (14.25/14.12) which also marked the low end of its 11 month trading range. Congestive support in the 13.60/13.50 area has been tested (session low 13.54) with the 38% retracement of the 2009 to 2010 rally at 13.24.

10:04

SPY S&P 500 drops back near 1020/1019 support -- session low 1021 -Update- -Technical-

This marks two technical extension targets and the Oct/10 month low.

10:03

WFC Wells Fargo acquired Kinney Agency, single office, commercial insurance brokerage firm located in Albuquerque; Terms of the transaction were not disclosed (25.34 -0.26)

10:01

SPY Stock indices set new lows prior to the data and have extended after the worse than expected reports -- Dow -46, S&P -5, Nasdaq -13 -Update- -Technical-

09:52

SPY Stock indices unable to build on early bounce attempt, hovering near early lows/yesterday's lows -- Dow -17, S&P -1.7, Nasdaq -3 -Technical-

09:48

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: BJ (+5.66), AIXG (+2.08), DO (+1.51), TSLA (+1.44), TEF (+1.35), CS (+1.39), FDX (+1.37), CF (+1.16), BIDU (+1.12), RTP (+1.19), NFLX (+1.13), GS (+1.08)

Point Losers: AMED (-7.98), AFAM (-5.06), DNDN (-3.36), GTIV (-3.54), MSM (-1.93), OC (-1.36), IBB (-1.29), AUXL (-1.25), GENZ (-1.11), CELG (-1.07)

09:44

CHNG China Natural Gas successfully completed single-machine test run and ignition ceremony of its Jingbian liquefied natural gas plant on June 30, 2010 (8.37 +0.05)

09:43

TECHX Seeing some relative strength in Energy / Commodity -- XLE, OIH, SLX, KOL -- Transports IYT, Solar Tan -Update- -Technical-

09:42

BJ BJ's Wholesale resumes trading (42.29 +5.19) -Update-

09:42

ECONX Reminder: Pending Home Sales, Construction Spending, and ISM Index data due out in about 18 min at 10:00ET

09:38

TECHX Mixed start for stock indices with range action just above yesterday's lows -- Dow +3, S&P +0.6, Nasdaq +5 -Update- -Technical-

Watch if QQQQ, which has declined 9 days in a row, can continue to hold above yesterday's low at 42.64 (session low 42.67).

09:37

AME Ametek acquires Haydon Enterprises; expected to add ~$0.05 per diluted share to 2010 earnings (40.01 -0.14)

Co announced that it has acquired Haydon Enterprises, from the Harbour Group, a private, St. Louis-based operating company, for ~$270 million in cash. The acquisition of Haydon Enterprises is expected to add ~$0.05 per diluted share to 2010 earnings and ~$0.13 per diluted share to earnings in AMETEK's first year of ownership. (Stock is Halted)

09:33

UNH UnitedHealth drops in early trade, approaches its seven month low from May at 27.97 -- session low 28.06 (28.15 -0.25) -Technical-

09:32

LGF Lions Gate Entertainment: Icahn holds 33.9% of Lions Gate's outstanding shares (7.03 +0.05)

Icahn and his affiliated entities now beneficially own 40,003,367 Lions Gate common shares, representing approximately 33.9% of the shares outstanding.

09:31

DTV DIRECTV and Panasonic (PC) announced of 3D Channel partnership (33.87 -0.05)

09:30

KED Kayne Anderson Energy stockholders approved a proposal to withdraw the Company's election to be treated as a business development company (15.17 +0.59)

09:29

CVTI Covenant Transport sees Q2 EPS of $0.12-0.20 vs ($0.01) Thomson Reuters consensus (6.76 )

"The expected improvement versus our previous breakeven outlook is attributable to further improvements in freight rates, miles per truck, internal revenue generation initiatives and cost control efforts."

09:28

CATM Cardtronics and Savings Oil Co. have reached a multi-year agreement to provide ATM services to customers of Savings Oil's convenience stores (12.96 )

Co and Savings Oil Co. have reached a multi-year agreement to provide ATM services to customers of Savings Oil's convenience stores. Under terms of the agreement, which covers 47 locations, Savings Oil will own the ATM equipment while Cardtronics will provide ATM management services.

09:28

MTL Mechel Steel announced that Mr. Igor Zyuzin changed his position from CEO to Chairman of the Board (18.14 )

09:25

TEVA Teva Pharma announced that it has commenced commercial launch of Venlafaxine HCl ER Capsules (51.99 )

Co announced that it has commenced commercial launch of Venlafaxine HCl ER Capsules, the Company's generic version of Wyeth's antidepressant Effexor XR(R). The brand product had annual sales of approximately $2.75 billion in the United States, based on IMS sales data.

09:25

On The Wires

HP (HPQ) announced it has completed its acquisition of Palm at a price of $5.70 per share of Palm common stock in cash... IBM (IBM) announced it has entered into an agreement to acquire BigFix, a privately-held company based in Emeryville, Calif. Financial details were not disclosed... Primoris Services Corporation (PRIM) announced that it has completed a strategic investment in WesPac Energy. Primoris's investment totaled approximately $18 million in cash in exchange for a 50% ownership interest in WesPac.

09:21

DLA Delta Apparel to acquire branded apparel company (14.60 )

Co signed a letter of intent and expects to acquire substantially all of the net assets of HPM Apparel, Inc. d/b/a The Cotton Exchange by July 15, 2010. The Cotton Exchange to add approximately $25 million in sales and be slightly accretive to earnings for the fiscal year ended July 2, 2011

09:20

BPOP Popular Inc signs agreement to sell majority interest in EVERTEC to funds managed by Apollo Management (2.85 )

Co announced that it entered into an agreement and a plan of merger that contemplates funds managed by Apollo Management, acquiring a 51% interest in Popular's processing subsidiary, EVERTEC, and related processing businesses, through the establishment of a joint venture. The new joint venture is valued at approximately $900 mln. As part of the transaction, Popular transferred its merchant acquiring and processing and technology businesses to EVERTEC. The transaction is expected to close in the third quarter of 2010. The transaction is expected to result in a net gain after taxes for Popular of approximately $600 mln.

09:19

On The Wires

First Solar (FSLR) announced it has formed a utility systems business group to address the large-scale photovoltaic system solutions market... Net 1 UEPS Technologies (UEPS) announced that negotiations regarding the current agreement with the South African Social Security Agency for the payment of social welfare grants which expired on June 30, 2010, have not been finalized and are ongoing... Fortress Investment Group (FIG) announced that affiliates of certain Fortress managed funds have agreed to acquire CW Financial Services. Fortress has agreed to acquire CWCapital from majority shareholder Otera US Holding Inc. Terms were not disclosed, closing expected during the third quarter.

09:04

HDSN Hudson Technologies announces $5.5 million registered direct offering (2.04 )

Co will sell 2,737,500 shares of its common stock and warrants to purchase an aggregate of 1,368,750 shares of common stock in a registered direct offering. The warrants will be exercisable at $2.60 per share beginning six months after issuance and will expire five years after become exercisable. Each unit, consisting of one share of common stock and a warrant to purchase 0.50 of a share of common stock, will be sold for a purchase price of $2.00.

09:04

REX American Resources (REX) subsidiary agrees to acquire 48% interest in South Dakota ethanol plant (16.00 )

Co announced that it has, through a wholly-owned subsidiary, entered into a definitive agreement to acquire an approximate 48% equity ownership interest in NuGen Energy. REX has agreed to acquire its ownership interest for $9.2 mln with a commitment of up to an additional $6.5 mln based upon the future profitability of NuGen. Upon completion, the investment will increase REX's overall ownership interest of annual nameplate capacity ethanol production by approximately 33%. REX intends to fund its initial investment from cash on hand, and at April 30, 2010, REX had cash and cash equivalents of $101.4 mln, including $86.1 mln of cash at the parent company. The closing of the transaction, expected to occur by the end of July 2010, is subject to the satisfaction of customary conditions.

09:04

LINE Linn Energy to acquire properties in the Permian Basin for $90 million (2.04 )

09:03

GVP GSE Systems, Inc. Forms Joint Venture Named GSE-UNIS in China (4.06 )

GVP announced the formation of GSE-UNIS, a limited liability company formed by GSE and Beijing based UNIS. GSE-UNIS will be headquartered in Beijing, China. The Joint Venture, which has been submitted to the Chinese government for formal registration, will be 51% owned by UNIS and 49% owned by GSE. Upon receipt of Chinese government approval, UNIS will contribute projects, technology, simulation engineers, and approximately $1.5 million in working capital. GSE will contribute projects, technology, simulation engineers, facilities and approximately $1.4 million in working capital. GSE-UNIS has received its Certificate of Approval from the China Commission of Commerce and expects its formal Business License to be issued on or around July 15, 2010 at which time GSE-UNIS will be empowered to enter into formal contracts with its customers and begin to recognize revenue. The largest shareholder of UNIS is Tsinghua University, a technology university in China.

09:02

TOD Todd Shipyards announces a $12,861,411 modification to previously awarded contract (14.79 )

Co announced today that the U.S. Coast Guard has awarded to its wholly owned subsidiary, Todd Pacific Shipyards Corporation a $12,861,411 modification to previously awarded contract HSCG85-09-C-6BX667 in support of USCGC Polar Star's (WAGB-10) reactivation since being in "Caretaker Status" nearly four years. Repairs and alterations performed during the planned dockside availability of the icebreaker are in the second phase of the cutter's overhaul. The contract modification provides for the alteration and repair of ship's systems, engines and shipboard equipment. The work is being accomplished at co's Seattle shipyard, having begun in May 2010 under a provisional authorization, and is expected to be complete in November 2010.

09:02

RDC Rowan Cos announces intent to purchase Skeie Drilling (21.94 )

Co entered into a Share Purchase Agreement with Skeie Technology, Skeie Tech Invest and Wideluck Enterprises Limited and has obtained irrevocable commitments from Skeie Holding and Trafalgar enabling Rowan to purchase each share of common stock held by the Sellers in Skeie Drilling & Production. The Agreement is subject to satisfactory due diligence and approval by Rowan's Board of Directors, both of which must occur by July 19, 2010 or the Agreement will terminate. Under the terms of the Agreement and irrevocable commitments from the Sellers, Rowan will issue 0.00574 shares of its common stock for each ordinary share of SKDP held by the Sellers.

09:01

PNNW Pennichuck and city of Nashua file joint motion with NHPUC (22.16 )

Co announced that it and the City of Nashua, New Hampshire have jointly filed a motion with the New Hampshire Public Utilities Commission requesting the NHPUC to issue a scheduling order for the purpose of establishing a process by which the eminent domain valuation of the plant and property of Pennichuck Water Works, Inc. The city has 90 days from the date of the final determination of the price to be paid for the assets of co to decide whether or not to complete the purchase.

09:01

ATO Atmos Energy entered into an accelerated share repurchase agreement with Goldman Sachs to repurchase $100 million of its outstanding common stock (27.04 )

09:01

BMTI Biomimetic Therapeutics to Present Final Data from Augment Bone Graft Pivotal Trial at AOFAS Summer Meeting (11.12 )

Final data from co's recently completed phase III pivotal clinical trial comparing Augment Bone Graft to autograft in hindfoot and ankle fusions will be reviewed.

09:00

BBG Bill Barrett announced COO, President and director Joe Jaggers is resigning effective July 1, 2010 (30.77 )

Also effective July 1, 2010, R. Scot Woodall, currently Exec VP Operations, will assume the role of COO, and Chairman/CEO Fred Barrett will assume role of President. Jaggers will remain an employee of the Company through July 30, 2010 to assist in transitional matters.

09:00

CBR Ciber appoints David Peterschmidt CEO (2.77 )

09:00

UTSI UTStarcom announces additional details of its newly announced strategic cooperation agreement with China Merchants Bank (1.84 )

The Cooperation Agreement contemplates that CMB would provide to UTStarcom and its affiliates financial services, including foreign exchange services and financial consulting services, and a combination of factoring, supply chain financing and other financing services based on the assessment of the needs of different projects. The financial consulting services would include advising on money policies, fiscal policies and capital market policies as well as investment and financing structures. These services would be provided without charge to UTStarcom.

08:51

GRM Graham Packaging announces purchase of China Roots Packaging (11.97 )

Co announced that its subsidiary, Graham Packaging Company, has successfully acquired China Roots Packaging from PCCS Group Berhad, a Malaysian company. China Roots is a plastic container manufacturing company located in Guangzhou, China. Graham Packaging and PCCS Group Berhad completed the transaction on July 1, 2010. China Roots' 2009 sales were approximately RMB 111 million.

08:39

On The Wires

GSI Commerce (GSIC) announced it has signed an extension of its multiyear e-commerce agreement with the National Basketball Association to 2017... U.S. semiconductor maker Ramtron International Corporation (RMTR) announced that it has secured a $6.0 million loan from Silicon Valley Bank to strengthen its working capital position as the company makes the remaining capital and development investments in its current IBM foundry project... Capstone Turbine Corporation (CPST) sold the low-emission C600 microturbine to one of the largest natural gas producers in the U.S... Mechel OAO (MTL) announces official creation of divisional management system of the company's operational activity. In the result of these changes, the operational activity within the segments will be fully controlled by the management companies.

08:33

PRAN Prana Biotech reports new findings show that the effectiveness of PBT2 (1.12 )

Co announced presentation with new findings show that the effectiveness of PBT2 lies in a unique combination of complementary activities. PBT2 acts to detoxify A-beta by disarming it of copper and zinc and returns these crucial metals to neurons. Assoc. Prof. Cherny will present data* showing that by returning these metals to neurons, important cell signaling pathways are activated that prevent neuronal death and promote neuronal function. In addition, data will be presented linking the neuroprotective qualities of PBT2 with beneficial effects evident in an animal model of Huntington's disease.

08:31

RAD Rite Aid reports June same store sales decreased 2.5% (0.98 )

June front-end same stores sales decreased 1.1 percent while pharmacy same store sales, which included an approximate 157 basis points negative impact from new generic introductions, declined 3.1 percent. Prescriptions filled at comparable stores decreased 3.7 percent over the prior-year period.

08:31

RMTR Ramtron secured a $6.0 million loan to strengthen its working capital position (2.60 )

08:30

JGBO Jiangbo Pharma announces the appointment of new Chief Executive Officer (9.43 )

The co announces the appointment of Mr. Linxian Jin, a pharmaceutical industry veteran in China, as the Company's Chief Executive Officer (CEO) effective July 1, 2010. As part of an effort to continue to strengthen the senior management team, Mr. Jin will take over the role of CEO from the Company's Chairman, Mr. Wubo Cao, who resigned on June 29, 2010. Mr. Cao will continue his role as Chairman of the Company's Board.

08:30

WPI Watson Pharm launches generic Exelon (40.57 )

Co announced that, under a settlement with Novartis (NVS), Watson has commenced shipment of a generic version of Exelon 1.5mg, 3mg, 4.5mg and 6mg capsules. Exelon is used to treat dementia in people with Alzheimer's disease.

08:26

On The Wires

Millicom International Cellular (MICC) announces that Millicom and its local partner in Honduras have reached an agreement that gives Millicom full control of Celtel, its Honduran subsidiary. As a result of this agreement, Celtel will now be fully consolidated into the Millicom Group financial statements from Q3 2010... Dow Chemical (DOW) and Mitsui & Co, of Tokyo, Japan (MITSY) announced that the two companies have signed a definitive agreement to form a 50:50 manufacturing joint venture to construct, own and operate a new membrane chlor-alkali facility located at Dow's Freeport, Texas, integrated manufacturing complex... Ecopetrol (EC) will assume direct operation of the Cupiagua and Cupiagua Sur fields as of midnight, June 30. The fields are located in the municipality of Aguazul in the Casanare province, a major prospect region in Colombia... Group 1 Automotive (GPI) announced its intention to vigorously defend itself against a lawsuit filed by Toyota Motor Sales (TM) in the Federal Court of South Carolina... Amazon.com (AMZN) introduced the newest Kindle DX and new lower price of $379, down from $489... Vanda Pharmaceuticals (VNDA), announced that Dr. Steven Galson, former Acting U.S. Surgeon General, has joined Vanda's Board of Directors.

08:17

On The Wires

L-1 Identity Solutions (ID) announced that it received a follow-on order from an existing U.S. government customer for additional ABIS license capacity. The order increases the existing operating capacity of the ABIS system software currently being utilized by a U.S. defense agency... National Coal (NCOCD/NCOC) announced the beginning of construction on its new Mine 12, which when fully operational is anticipated to add about 40,000 tons per month, or 480,000 tons per year to the its production... ABM Industries (ABM) announced that ABM Janitorial Services, a wholly owned subsidiary of ABM Industries, has acquired all of the outstanding shares of Diversco, from DHI HOLDINGS. The cash transaction closed June 30, 2010. In the fiscal year that ended March 31, 2010, Diversco generated revenues of $79.3 mln... Excel Trust (EXL) acquired five additional properties for a combined asset value of $71,749,078 at an approximate capitalization rate of 8.5%... Hertz Global Holdings (HTZ) announced the closing of its offering of EUR 400 million aggregate principal amount of 8.5% Senior Secured Notes due 2015 and the completion of a EUR 220 million revolving credit facility that matures in 2013.

08:15

OUTD Outdoor Channel names Tom Allen CFO (4.67 )

Co announced that Tom Allen has been appointed Executive Vice President and Chief Financial Officer. Mr. Allen will commence employment on July 16, 2010 and report to Roger Werner, President and Chief Executive Officer of Outdoor Channel Holdings.

08:10

ECONX Reminder: Initial Claims and Continuing Claims data due out in about 20 min at 8:30ET

08:05

DF Dean Foods announced the successful completion of an amendment and extension of its Senior Secured Credit Agreement (10.07 )

08:04

NRF Northstar Realty Finance announces it fully repaid and extinguished its $304 million credit facility (2.67 )

08:03

RZ Raser Technologies announces extension of Thermo No. 1 final completion date (0.59 )

Co announced that it reached an agreement to extend the Final Completion Date for the Thermo No. 1 project from June 30, 2010 to July 9, 2010, after which time Raser expects to provide an update on the project, including final payment arrangements to the financing parties from the U.S. Treasury grant proceeds received earlier this year.

08:03

CORT Corcept Therapeutics completes enrollment in Phase 3 Cushing's syndrome study -- data announcement anticipated by year end (3.12 )

08:02

HSP Hospira announces successful completion of tender offer for shares of Javelin Pharmaceuticals (JAV) (57.45 )

08:02

HOLI Hollysys Automation Technologies provides SCADA system to the Beijing Subway Line 8 (9.01 )

Co announced that it has signed the $11 mln contract with Beijing Mass Transit Railway Operation Corp to deliver its proprietary subway SCADA system for the Phase II of Beijing Subway Line 8. Co will provide its proprietary subway SCADA platform, an open hierarchical distributed software system that integrates and interconnects various automation subsystems at station-level, which may include automation for building, fire alarm, gates, access control, CCTV, public-address, fare collection, passenger information, train information and supervision, telecommunication, etc. The Phase II of Beijing Subway Line 8 is 17km in length with 11 stations, and will be commissioned by December 2012, extending from the already-operational 5km phase I portion on the same line.

08:01

PRX Par Pharmaceutical announces it began shipping the generic version of Santarus' (SNTS) Zegerid (25.96 )

announced that it began shipping the 20mg/1100mg and 40mg/1100mg strengths of omeprazole and sodium bicarbonate capsules to the trade. Omeprazole and sodium bicarbonate capsules are the generic version of Santarus' Zegerid. Annual U.S. sales of Zegerid capsules are approximately $195 million, according to IMS Health data. Par has been awarded 180 days of marketing exclusivity for being the first to file an ANDA containing a paragraph IV certification for these strengths of the product. On April 14, 2010, the District Court of Delaware held that the patents covering Zegerid are invalid. The case is currently on appeal at the Court of Appeals for the Federal Circuit.

08:01

QDEL Quidel: Diagnostic Hybrids receives approval from Chinese SFDA for D3 Ultra DFA Respiratory Virus Screening and ID Kit (12.69 )

08:01

DAL Delta Air Lines reaches definitive agreements to sell subsidiaries; Mesaba to Pinnacle (PNCL), Compass to Trans States (11.75 )

Co has entered into definitive agreements to sell two of its wholly owned regional airline subsidiaries, Mesaba and Compass Airlines. Mesaba has been sold to Memphis, Tenn.-based Pinnacle Airlines Corp. (PNCL) for $62.0 mln, and Compass has been sold to St. Louis-based Trans States Holdings for $20.5 mln. Under the terms of the agreements, Mesaba and Compass will continue to serve Delta customers with long-term, extendable agreements, ranging from seven to 12 years depending on aircraft type.

08:01

HWK Hawk Corp to consider strategic alternatives "including a possible sale of the Company" (25.45 )

Co announced today that to enhance stockholder value, its Board of Directors has commenced a process to explore and consider possible strategic alternatives, including a possible sale of the Company. A Special Committee of the Board has been formed and has retained Harris Williams & Co., as its financial advisor to assist and advise the Special Committee. The Company has not set a definitive timetable for completion of its evaluation and there can be no assurance that this process will lead to the approval or completion of any definitive agreement or other transaction.

08:01

HA Hawaiian Airlines announces its Board has authorized a stock repurchase program under which the Company may purchase up to $10 million of its outstanding common stock (5.17 )

08:00

SNY Sanofi-Aventis and JDRF form partnership to improve therapies, work toward cure for Type 1 diabetes (30.06 )

07:55

FOE Ferro announced the appointment of Thomas R. Miklich as Vice President and Chief Financial Officer of the Company effective July 7, 2010

Co announced the appointment of Thomas R. Miklich as Vice President and CFO of the co effective July 7, 2010. Mr. Miklich succeeds Sallie B. Bailey who will be leaving her position as Vice President and CFO of the co effective July 2, 2010.

07:44

MXB MSCI reports Q2 EPS of $0.35 vs $0.31 Thomson Reuters consensus; revs grew 14% YoY to $125.2 mln vs $123.49 mln Thomson Reuters consensus (27.40 )

Co will change its ticker to MSCI, effective July 6.

07:37

TASR TASER issues downside guidance for Q2 (3.90 )

Co issues downside guidance for Q2 (Jun), sees Q2 (Jun) revs of ~$18.5 mln vs. $25.30 mln Thomson Reuters consensus. Revenues have been impacted by the push back of a number of large international orders, which were originally scheduled to be completed during the second quarter. Domestically, revenues for the quarter appear to have been impacted by decreased contribution of stimulus funds directed towards law enforcement spending, and a longer than anticipated ramp-up process for new products.

07:36

ADM Archer-Daniels announces Beijing office and investment in Agricultural Bank of China (25.82 )

Co announced two key actions that advance its strategy for profitable growth in China and throughout Asia: the opening of a Beijing office; and a strategic investment in, and memorandum of understanding with, the Agricultural Bank of China. Co will open an office in Beijing in 2010, and has named Ismael Roig to lead ADM's Asian business and growth activities. ADM also announced that it will make a $100 million investment in Agricultural Bank of China.

07:35

STZ Constellation Brands beats by $0.03, misses on revs; guides FY11 EPS in-line (15.62 )

Reports Q1 (May) earnings of $0.38 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.35; revenues fell 0.5% year/year to $788 mln vs the $798.5 mln consensus. Co raises guidance by $0.10 for FY11 due to the expected benefit from share repurchases, co sees EPS of $1.63-1.78, excluding non-recurring items, vs. $1.70 Thomson Reuters consensus; co believes shares represent good value. Co sees FCF of $350-400 mln.

07:35

TYL Tyler Tech signs multi-solution contract with the City of Madison, Wisconsin (15.52 )

Co announced that the City of Madison, Wisconsin, with a population of approximately 230,000, has signed a multi-solution agreement with Tyler for its Incode municipal court and Munis enterprise resource planning solutions. The agreement is valued at approximately $5.5 million.

07:33

MSM MSC Industrial beats by $0.03, beats on revs; guides Q4 EPS in-line, revs above consensus (50.66 )

Reports Q3 (May) earnings of $0.69 per share, $0.03 better than the Thomson Reuters consensus of $0.66; revenues rose 28.5% year/year to $450.4 mln vs the $445.1 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.61-0.65 vs. $0.63 Thomson Reuters consensus; sees Q4 revs of $446-458 mln vs. $434.03 mln Thomson Reuters consensus.

07:31

CHTP Chelsea Therapeutics reports positive interim analysis of Phase II Trial of Droxidopa in Fibromyalgia (2.93 )

The co announces the completion and favorable outcome of an independent Data Monitoring Committee (DMC) review of the safety and efficacy data from approximately half the target enrollment in Chelsea's Phase II trial of droxidopa in fibromyalgia... Following their assessment of each of the 12 arms using the study's primary endpoint, a reduction in pain as measured by the Short Form McGill Pain Questionnaire, the DMC recommended that 7 of the 12 arms of the trial be continued to completion. This recommendation was based solely on their efficacy analysis, as there were no observed safety concerns associated with any arm of the study. As a result of this recommendation, the study will now focus primarily on multiple doses of droxidopa in combination with 50mg carbidopa.

07:31

LHCG LHC Group and Baptist Medical Center South announce home health joint venture (27.75 )

Co announced that it has entered into a home health joint venture with The Health Care Authority for Baptist Health, an Affiliate of UAB Health System ("Baptist Health"), and Baptist Medical Center South to provide home health services in Montgomery, Alabama, and the surrounding area. The primary service area of this joint venture spans eight counties in Alabama, a Certificate of Need (CON) state. This joint venture is not expected to add materially to LHC Group's earnings in 2010.

07:31

IPCM IPC The Hospitalist acquired Austin Hospital Physicians (25.10 )

Co acquired Austin Hospital Physicians, PA, (AHP) based in Austin, Texas. The acquisition represents a new market for IPC in Texas, adding to its well-established presence in the state. AHP has an annualized volume of approximately 9,000 patient encounters.

07:30

LCRD LaserCard receives follow-on order for secure ID credentials for Saudi Arabia National ID Program (4.45 )

Co received a follow-on purchase order valued at $1.6 million for chip-ready, optical security media-based credentials for the Saudi Arabia national ID card program. Delivery is scheduled to occur in the Company's second fiscal quarter ending September 2010.

07:28

DGLY Digital Ally receives DVM-500 plus order from State of Wisconsin (2.12 )

Co announced that it has received a re-order from the Wisconsin State Patrol for its DVM-500 Plus In-Car Digital Video Systems. The order, which is valued at approximately $750,000.

07:22

On The Wires

U-Store-It Trust (YSI) announces that it has entered into a contract with a wholly-owned subsidiary of Wells Fargo Bank to manage 25 self-storage facilities located in eight states containing approximately 1.9 million rentable square feet... Roche (RHHBY) and IBM (IBM) to develop a nanopore-based technology that will directly read and sequence human DNA quickly and efficiently.

07:20

GSIG GSI Group (GSIGQ) does not expect to require a working capital credit facility in order to emerge from bankruptcy; reiterates Q2 guidance (2.42 )

Co will have sufficient operating capital upon emergence from bankruptcy, as a result of completing intra-co distributions, and does not expect to require a working capital credit facility in order to emerge from bankruptcy. Co reaffirms Q2 rev guidance of $81-89 mln; with EBITDA of $13-17 mln.

07:15

IRIS IRIS Intl submits 510(k) application to FDA for iChem VELOCITY automated urine chemistry analyzer and iRICELL urinalysis workstation (10.01 )

Co announced that its IRIS Diagnostics Division submitted on June 30, 2010, a 510(k) pre-market notification application to the FDA requesting regulatory clearance for its iChem Velocity Automated Urine Chemistry Analyzer and iRICELL Urinalysis Workstation.

07:04

AHCI Allied Healthcare announces intended cancellation of admission to trading of depository interests on AIM (2.32 )

The co announces that it has requested the cancellation of admission to trading of its depository interests on the Alternative Investment Market (AIM) of the London Stock Exchange. Cancellation will become effective as of 7:00 a.m., U.K. time, on August 20, 2010. The depository interests will trade on AIM through the close of business on August 19, 2010.

07:04

DENN Denny's to begin converting Flying J travel center restaurants (2.60 )

Co announced that it will begin converting the restaurant operations of up to 140 Flying J Travel Centers ("Flying J") to Denny's units starting in July 2010. Denny's expects to have 80 sites converted by year end 2010, including 10 sites which will operate as company restaurants. The balance of the conversion opportunities are expected to open as Denny's in 2011. On an annualized basis the full potential of conversions are expected to add an estimated 7% to 8% to Denny's system-wide sales. Denny's franchisees will convert and operate most of the Flying J locations with the Company planning to convert and operate approximately fifteen of the restaurants. The capital outlay is expected to be approximately $565,000 per conversion. Existing employees will generally remain in place.

07:03

CYCC Cyclacel Pharma announces FDA orphan drug designation for Sapacitabine in both AML and MDS (1.72 )

Co announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to the company's sapacitabine (CYC682) product candidate for the treatment of both acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).

07:03

ROIA Radio One announces extension of expiration time for pending subscription offer (1.40 )

Co announced that it had amended the terms of its pending subscription offer to eligible holders of its outstanding 8 7/8% Senior Subordinated Notes due 2011 and its outstanding 6 3/8% Senior Subordinated Notes due 2013 and together with the 2011 Notes, to purchase an aggregate of $100 mln in principal amount of the co's new 8.5%/9.0% second-priority senior secured grid notes due 2016 to extend the expiration time to 5:00 p.m. ET on July 15, 2010.

07:03

AGAM AGA Medical awarded EUR2.1 million in Occlutech patent infringement decision (12.69 )

Co announced the Dusseldorf Regional Court has awarded EUR2.1 million in damages to AGA Medical as a result of a patent infringement case filed by AGA Medical against Occlutech GmbH (Occlutech), based in Jena, Germany. AGA Medical is a leading developer of interventional devices for the minimally invasive treatment of structural heart defects and vascular abnormalities.

07:02

LOCM Local.com acquires local domain advertising company; announces $30 mln credit line (6.84 )

Co announces the acquisition of the assets of OCTANE360. Under the terms of the agreement, Local.com acquired the assets of OCTANE360 for $5 mln in cash and stock with an earnout of up to $5.9 mln if certain performance criteria are met in the two-year period following the closing. Founded in 2008 and based in Los Angeles, California, OCTANE360 will become a wholly-owned division of Local.com. "This transaction represents a significant expansion of Local.com's product suite and technology platform, allowing us to manage the scaled acquisition, creation and deployment of geo-category targeted small business domains."

07:02

OB Onebeacon Insurance sells Personal Lines business to Tower Group (14.32 )

Co announces it has completed the sale of its Traditional Personal Lines business to Tower Group (TWGP). The transaction, which was announced on February 2, included two insurance companies containing the personal lines business, and in relation to the reciprocal insurance exchanges which write business in New York and New Jersey, the two managing attorneys-in-fact and the two surplus notes issued to OneBeacon.

07:02

AFAM Almost Family receives document subpoena from SEC (34.93 )

Co announced that on June 30, 2010 it received a civil subpoena for documents and notice of investigation from the Securities and Exchange Commission. The subpoena seeks documents related to the co's home health care services and operations, including reimbursements under the Medicare home health prospective payment system, since January 1, 2000. The co will supply the requested documents and cooperate fully with the SEC regarding the document request.

07:02

CGEN Compugen discovered protein shown to abolish recurring relapses in multiple sclerosis animal model (3.33 )

Co announced that administration of CGEN-15001 in an animal model of multiple sclerosis (MS) has been shown to completely abolish spontaneous relapses. In addition, administration of this novel molecule prior to disease onset demonstrated a pronounced delay of disease onset and a significant decrease in disease symptoms. These results, together with complementary results from earlier studies, strongly support a significant potential therapeutic utility for CGEN-15001 in the treatment of multiple sclerosis and other autoimmune diseases, such as rheumatoid arthritis, systemic lupus erythematosus, inflammatory bowel disease, and type 1 diabetes.

07:01

ZN Zion Oil & Gas extended the expiration date for its rights offering to Thursday July 15, 2010 (5.03 -0.01)

07:01

ASIA AsiaInfo completes merger with Linkage (21.86 )

07:00

ARNA Eisai to market Arena Pharma lorcaserin (3.07 )

Co announces that Eisai will market lorcaserin for obesity and weight management in the U.S. following FDA approval under the terms of a marketing and supply agreement between Arena Pharmaceuticals GmbH, a wholly owned subsidiary of Arena Pharmaceuticals, and Eisai. Under the terms of the agreement, Arena will receive an upfront payment of $50 mln from Eisai and, upon regulatory approval and the delivery of product supply for launch, up to an additional $90 mln in milestone payments. Arena will sell lorcaserin to Eisai for a purchase price starting at 31.5% of Eisai's annual net product sales, and the purchase price will increase on a tiered basis to as high as 36.5% on the portion of annual net product sales exceeding $750 mln. Arena is also eligible to receive $1.16 bln in one-time purchase price adjustment payments based on annual sales levels of lorcaserin and up to an additional $70 mln in regulatory and development milestone payments.

06:48

ECT ECA Marcellus Trust prices 8.8 mln unit IPO at $20.00; the mid point of the $19-21 expected range

Co was originally expected to offer 9.0 mln units.

06:39

S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -4.50

06:39

Asian Markets: Nikkei...9191.60...-191.00...-2.00%. Hang Seng...Holiday.........

06:39

European Markets: FTSE...4872.00...-44.90...-0.90%. DAX...5927.27...-38.20...-0.60%

06:32

AEZ American Oil & Gas updates North Dakota Bakken and Three Forks activity (6.28 )

Co reports that its operated Ron Viall 1-25H well (American 95% working interest), located in T156N-R98W Sections 24 and 25 in Williams County, ND that initially produced 2,844 barrels of oil equivalent (1,981 barrels of oil and 5,179 Mcf of natural gas) from the Bakken formation during an early 24 hour flow back period, averaged 987 barrels of oil equivalent per day during its first 30 production days. American also announces that its Summerfield 15-15H well (American approximate 33% working interest), located in T147N-R96W, Section 15, Dunn County, ND that initially produced 2,799 barrels of oil equivalent (2,178 barrels of oil and 3,729 Mcf of natural gas) from the Bakken formation during an early 24 hour flow back period, has averaged 1,046 BOE/D during its first 30 production days.

06:31

UPI Uroplasty receives new patent for implantable neuromodulation system and method in the treatment of urinary incontinence (4.76 )

06:30

ASYS Amtech Systems announces $20 mln in new solar orders (8.35 )

Co announces it has received approximately $20 mln in new solar orders for its diffusion processing systems from two new customers and several existing customers in Asia. Including these most recent orders, Amtech's solar orders in its fiscal 2010 third quarter total $35 million, and total solar orders to-date in fiscal 2010 have reached approximately $118 million. Amtech's fiscal 2010 began October 1, 2009.

06:11

ISLE Isle of Capri Casinos postpones 9.0 mln common share offering due to recent market conditions (9.26 )

05:33

AMAP AutoNavi Holdings prices 8.625 mln share IPO at $12.50 per ADS

The co had planned to issue shares in the $10.50-12.50 range.

03:54

On The Wires

Endo Pharmaceuticals (ENDP) submits a complete response to the FDA following the co's receipt of a Complete Response letter in October 2009 related to the New Drug Application submission for FORTESTA 2% gel... Frontline Ltd. (FRO) enters into a contract with Jiangsu Rongsheng Heavy Industries Co., Ltd. for the delivery of two 156,900 dwt Suezmax newbuildings. Frontline has also secured options for two similar Suezmax newbuildings.

01:50

ACAS American Capital reports removal of 'going concern' paragraph in audit opinion and provides clarification on dividend limitations (4.82 )

Co announces that following the restructuring of its unsecured revolving line of credit facility and acceptance and closing of private exchange offers for its public and private notes completed on June 28, 2010, its independent registered public accounting firm has updated its audit report to remove the "going concern" paragraph related to the co's financial statements as of and for fiscal year ended December 31, 2009. This revised opinion thereon was filed with the SEC on a Form 8-K on June 30, 2010. Also, ACAS clarified certain statements made on its June 28, 2010 conference call regarding the provisions of its new credit agreement and note indenture related to the payment of dividends. As indicated during the call, under these agreements, ACAS is currently limited to paying only those dividends necessary for the co to maintain its status as a regulated investment co under the Internal Revenue Code and those dividends must be paid with the capital stock of the co to the extent permitted by applicable law.

01:43

DNDN Dendreon statement on CMS National Coverage Analysis (32.33 )

Co announces that the Centers for Medicare and Medicaid Services initiated a National Coverage Analysis of PROVENGE. In CMS's announcement of the NCA, CMS is requesting public comments on the effects of PROVENGE on health outcomes in patients with prostate cancer. It is not a change in Medicare coverage policy. NCAs do not impact existing coverage decisions, nor do they restrict local Medicare contractors from covering PROVENGE. Therefore, Medicare beneficiaries are still able to access PROVENGE and private payers can also still cover PROVENGE.

01:39

On The Wires

CKE Restaurants (CKR) announces that its stockholders approved the proposal to adopt the merger agreement providing for its acquisition by entities created by certain affiliates of Apollo Management VII, L.P... Cell Therapeutics (CTIC) announces that it has deposited $39.3 mln in cash as trust funds with U.S. Bank National Association, as the trustee of the outstanding 4% convertible senior subordinated notes, which is an amount sufficient to pay and discharge the entire amount due on the Notes, including accrued and unpaid interest... RailAmerica (RA) announces that it has reached an agreement to acquire Atlas Railroad Construction Company and related assets for $21.5 mln in cash plus closing adjustments for working capital, which are estimated to be approx $2.5 mln... Myriad Pharma (MYRX) formally adopts its name change to Myrexis, effective July 1, 2010.

01:35

AMED Amedisys receives notice of SEC investigation (43.98 )

Co announces that it has received notice of a formal investigation from the SEC pertaining to the co, and received a subpoena for documents relating to the matters under review by the Senate Finance Committee.

01:34

NVS Ph. III study shows Novartis drug Afinitor more than doubles time without tumor growth in advanced pancreatic NET patients (48.32 )

Co announces that results of a Phase III study show Afinitor tablets plus best supportive care more than doubled progression-free survival, or time without tumor growth, vs placebo plus BSC in patients with advanced pancreatic neuroendocrine tumors. The study, RADIANT-3, was presented at the 12th World Congress on Gastrointestinal Cancer. Findings from the RADIANT-3 study demonstrated that everolimus extended the median time without tumor growth from 4.6 to 11.0 months when compared with placebo. Additionally, the data showed everolimus reduced the risk of cancer progression by 65%.

18:15

NOC Northrop Grumman announces $175 mln advance procurement contract for multi-purpose amphibious assault ship LHA 7 (54.44 -1.08)

The U.S. Navy awarded a $175 million cost-plus-fixed fee contract to Northrop Grumman (NOC) for advance procurement of long-lead materials and performance of engineering/planning efforts for LHA 7, the second in the Navy's newest class of large-deck amphibious assault ships. The first ship, America (LHA 6) is currently 25 percent complete.

17:45

JAZZ Jazz Pharma: Existing $15 mln revolving line of credit also refinanced to extend; Refinancing expected to be accretive to 2010 adjusted net income per share (7.83 -0.16)

Co announced that it has prepaid the remaining $63.5 mln principal amount of its 15% senior secured notes. During 2010, the co has reduced its long-term debt outstanding from $119.5 million to $50 million. In May 2010, the co used the net proceeds from a public offering of its common stock to prepay $53 mln in principal on its 15% senior secured notes and associated fees. JAZZ expects to record a loss on extinguishment of debt of $12.3 mln in the quarter ending June 30, 2010 which is comprised of $8.5 mln of prepayment premiums and fees and a one-time non-cash charge of $3.8 mln primarily related to unamortized debt discount.

17:43

IRET Investors Real Estate Trust reports in-line Q4 (8.83 -0.12)

Reports Q4 (Apr) earnings of $0.17 per share, in-line with the Thomson Reuters consensus of $0.17; revenues rose 2.5% year/year to $62.2 mln vs the $61.06 mln consensus.

17:33

YHOO Yahoo! announces $3 bln stock buyback program in an 8-K (13.84 -0.20)

17:25

PMC PharMerica achieves 75% generic dispensing rate (14.66 -0.08)

Co leads the long-term care pharmacy industry in generic medication dispensing with a rate of over 75%. The generic dispensing rate is on track to exceed 80% by 2013. Accelerating the generic dispensing rate are over 15 major drugs going off patent by 2013, representing over $78 bln in current annual pharmacy spend. PharMerica's aggressive generic utilization programs position PharMerica to drive significant savings to clients.

17:22

PHH PHH anounces amendment and extension of revolving credit facility (19.04 -0.30)

Co announced that, on June 25, 2010, it entered into a Fourth Amendment to the Amended and Restated Competitive Advance and Revolving Credit Agreement, dated as of January 6, 2006 with certain lenders and agents, and JPMorgan Chase Bank, N.A., as lender and administrative agent (the "Amended Revolving Credit Facility"). Under the terms of the Amended Revolving Credit Facility, PHH's maximum unsecured borrowing capacity was immediately reduced to $805 mln and will be further reduced to $525 mln effective January 6, 2011.

17:19

GYRO Gyrodyne Co. of America: Court of claims issues favorable opinion in condemnation litigation (47.00 +10.61) -Update-

Co announced that the Court of Claims of the State of New York issued an opinion requiring the State to pay to Gyrodyne an additional $98,685,000 for land appropriated in 2005. Under New York's eminent domain law (the "EDPL"), Gyrodyne is also entitled, subject to EDPL Section 514, to statutory simple interest on the additional amount at a rate not to exceed 9% per annum from November 2, 2005, the date of the taking, to the date of payment. (Stock has been halted since this afternoon)

17:18

KFS Kingsway announces appointment of new Chief Executive Officer and President (1.72 -0.03)

Co announce that Larry G. Swets, Jr., formerly the Co's Executive Vice-President of Corporate Development, has been appointed to the role of Chief Executive Officer and President effective today. Colin Simpson, former Chief Executive Officer and President, resigned from the Co to pursue other career interests, as was previously announced. Simpson will remain on the Co's Board of Directors.17:09

ABK Ambac announces additional debt for equity exchange transactions (0.67 -0.01) -Update-

Co announced that it has entered into a series of additional debt for equity exchanges with certain holders of ABK's 93/8% debentures, due August 2011. Under the terms of the exchange agreements, the Co issued 8,602,414 shares of ABK's common stock to the bondholders in exchange for ~$11.8 mln in aggregate principal amount of debt. Following the issuance of the shares there will be 302,022,750 common shares outstanding.

17:01

ITC ITC Great Plains receives siting approval for Phase II of the KETA transmission line project (52.91 -0.54)

Co received siting approval from the Kansas Corporation Commission for Phase II of the KETA high-voltage electric transmission line project (also known as the Spearville-Axtell line). The second phase of the KETA project involves the construction of an ~85-mile, 345,000 volt (345 kV) line through north-central Kansas to the Kansas-Nebraska border.

17:01

HNT Health Net: California Prison Health Care services awards Health Net Network services contract (24.37 -0.57)

Co announced that the California Prison Health Care Services (CPHCS) awarded Health Net the contract to administer the Preferred Provider Organization (PPO) Network Services on behalf of CPHCS. The terms of the contract are for a three-year base period scheduled to commence January 1, 2011, with two one-year option periods.

17:00

NAV Navistar enters supply agreement with Turkish Bus Manufacturer Otokar (49.20 -0.41)

Navistar Engine Group, an operating unit of Navistar, Inc., closed an agreement to supply diesel engines to Turkish vehicle manufacturer, Otokar. Within the framework of this agreement, MWM International Motores, Navistar's South American affiliate, will produce MaxxForce engines to power buses intended both for Turkish domestic market and other global marketplaces. The six-year contract provides for the supply of two in-line four-cylinder engine models.

16:57

HOKU Hoku receives $28.3 mln loan from China Construction Bank (3.34 +0.10) -Update-

Co announced it had entered into a $28.3 mln credit agreement with the New York branch of China Construction Bank, the second largest commercial bank by assets in China and the second largest bank in the world by market capitalization. The proceeds will be used toward completion of the development and construction of the polysilicon production plant under construction by Hoku's subsidiary, Hoku Materials, Inc., in Pocatello, Idaho.

16:57

HOKU Hoku and Suntech amend supply agreement (3.34 +0.10) -Update-

Hoku Materials, Inc., a wholly owned subsidiary of Hoku Corp (HOKU), established to manufacture and sell polysilicon for the solar market, and Suntech Power Holdings Co., Ltd. (STP), announced that they have amended their polysilicon supply contract to remove all milestones, adjust the contract term, and reschedule the initial shipment date. With the removal of the milestones, STP is no longer obligated to pay the scheduled $30 million prepayment that was previously committed.

16:44

ALCO Alico names Chief Operating Officer (22.98 -0.08)

Co announced that Dr. Ken Smith has joined the Co as Executive Vice-President and Chief Operating Officer effective July 1, 2010. Dr. Smith has been acting as a part-time consultant to the Co since February 2010. Prior to joining ALCO, Dr. Smith was the Vice-President of Agriculture Operations for Atlanticblue Group Inc., a 51% shareholder of ALCO.

16:38

THLD Threshold Pharma initiates a randomized, controlled, Phase 2 clinical trial evaluating TH-302 in patients with advanced pancreatic cancer (1.25 +0.01)

Co announced that it has initiated a multi-center, randomized, controlled, crossover Phase 2 clinical trial of TH-302 in combination with gemcitabine in patients with first line pancreatic cancer. TH-302 is a proprietary tumor selective Hypoxia-Activated Prodrug (HAP) that specifically targets tumor hypoxia.

16:37

SWHC Smith & Wesson beats by $0.04, beats on revs; guides FY11 revs in-line (4.09 -0.07)

Reports Q4 (Apr) earnings of $0.08 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.04; revenues rose 4.3% year/year to $103.8 mln vs the $98.9 mln consensus. Co issues in-line guidance for FY11, sees FY11 revs of $430-445 mln vs. $430.85 mln Thomson Reuters consensus.

16:36

SSD Simpson Manufacturing announces agreement to sell the assets of Simpson Dura-Vent (24.55 -0.41)

Co announced that it and its subsidiary, Simpson Dura-Vent, have entered into a definitive agreement with M&G Holding and a newly formed, wholly owned, indirect subsidiary of M&G, to sell substantially all of the assets of Simpson Dura-Vent to the M&G subsidiary. The purchase price will be $20.0 million in cash, plus or minus the amount by which Simpson Dura-Vent's working capital balance at the closing exceeds $23.5 million or is less than $22.5 million.

16:32

BIO Bio-Rad Labs launches its IH 1000 blood screening system (86.49 -0.05)

16:31

ECL Ecolab launches first EPA-approved, ready-to-use hard surface disinfectant effective against clostridium difficile (44.91 -0.15)

Co has purchased Klondyke Construction, LLC based in Phoenix, AZ. Klondyke provides construction and maintenance services primarily associated with electric substation, transmission and distribution infrastructure. Klondyke also constructs renewable energy generation facilities. Klondyke generated revenue of ~$28 mln during the last twelve months.

16:30

PIKE Pike expands reach to Southwest; purchases Phoenix-based Klondyke Construction, LLC (9.42 +0.10)

Co purchased Klondyke Construction, LLC based in Phoenix, AZ. Klondyke provides construction and maintenance services primarily associated with electric substation, transmission and distribution infrastructure. Klondyke also constructs renewable energy generation facilities. Klondyke generated revenue of ~$28 mln during the last twelve months.

16:30

MTRX Matrix Service Co selected to construct tankage for Federated Co-operatives near Carseland, Alberta, Canada (9.31 +0.07)

Co announced that its subsidiary, Matrix Service ULC, has been awarded a contract in excess of CAD $25 million with Federated Co-operatives Limited (FCL) for the engineering, fabrication and construction of aboveground fuel storage tanks near Carseland, Alberta, Canada.

16:24

NHWK Nighthawk Radiology completed its settlement transaction with St. Paul Radiology; expects to realize tax savings of ~$10 mln (2.59 +0.18)

Co completed its settlement transaction with St. Paul Radiology, P.A. As a result of the settlement transaction, NightHawk sold to a third party its ownership interests in Midwest Physicians Services and Emergency Radiology Services, the parties settled all disputes between them and terminated all of the agreements entered into in connection with the July 2007 transaction between the parties. Consistent with NightHawk's previous disclosures, it will receive aggregate consideration of $26 mln in connection with the settlement transaction, $12 mln of which NightHawk received at closing and $14 mln of which will be paid to NightHawk over the next four years. In addition, NightHawk expects to realize tax savings of ~$10 mln related to the settlement, for a total expected value of the settlement of approximately $36 mln over four years.

16:21

LDK LDK Solar determined that an additional provision for doubtful recoveries is required (5.17 -0.27)

During the course of the preparation of LDK Solar's 2009 annual report, LDK Solar's management determined that an additional provision for doubtful recoveries of approximately $12.6 million for its accounts receivable and prepayment to suppliers at December 31, 2009 is required to properly adjust previously announced preliminary unaudited financial results for the fourth quarter ended December 31, 2009. The additional provision for doubtful recoveries of accounts receivable and prepayments to suppliers was based on updated information about its customers' repayment ability and its suppliers' ability to honor existing contractual terms for delivery of products or refund of amounts paid.

16:19

MITL Mitel Networks reports Q4 EPS of ($5.43) vs. ($18.37) in the prior year's quarter; revs fell 1.7% to $163.9 mln (8.95 -0.05)

16:17

NCT Newcastle Investment elected not to pay a common stock or preferred stock dividend (2.68 -0.15)

Co elected not to pay a common stock or preferred stock dividend for the second quarter of 2010. The Company decided to retain capital for liquidity, investment and working capital purposes.

16:16

ANH Anworth Mortgage declares Q2 dividend of $0.25/share, down from Q1 dividend of $0.27/share (7.12 -0.02)

16:15

ENMD EntreMed announces reverse stock split (0.40 0.00)

Co announced that it has filed a certificate of amendment to its Amended and Restated Certificate of Incorporation to effect a 1-for-11 reverse stock split that will become effective with the open of trading on July 1, 2010.

16:15

PRGN Paragon Shipping sold one Kamsarmax contract and bought two TEU container vessels (3.58 -0.09)

Co sold one of its newbuilding Kamsarmax contracts and has also entered into agreements to acquire two 3,400 TEU newly built containerships from their builder Howardtwerke-Deutsche Werft, GmbH, Germany at a price of Euro 40 million per vessel (or approximately $49 million based on today's exchange rate). The container vessels are scheduled to be delivered to Paragon between July and August, 2010.

16:15

EXEL Exelixis announces appointment of new CEO (3.47 -0.14)

Co announced that Michael Morrissey, Ph.D., currently President of Research and Development at Exelixis, has been named by the Board of Directors to serve as President and Chief Executive Officer, effective July 15, 2010. He will replace George Scangos, Ph.D., who has resigned effective July 15, 2010 to become President and Chief Executive Officer of Biogen Idec (BIIB). Dr. Morrissey joined EXEL in 2000 and served as Executive Vice President, Discovery, before his appointment as President of Research and Development in January 2007.

16:14

XRTX Xyratex beats by $0.14, beats on revs; guides Q3 EPS above consensus, revs in-line (14.07 -0.26)

Reports Q2 (May) earnings of $1.49 per share, excluding non-recurring items, $0.14 better than the Thomson Reuters consensus of $1.35; revenues rose 134.2% year/year to $455.9 mln vs the $430.3 mln consensus. Co issues positive guidance for Q3, sees EPS of $0.87-1.16, excluding non-recurring items, vs. $0.87 Thomson Reuters consensus; sees Q3 revs of $385-435 mln vs. $390.63 mln Thomson Reuters consensus.

16:10

SNTS Santarus announces launch of prescription ZEGERID authorized generic and company restructuring (2.48 -0.10)

Co announced that, Prasco is commencing shipments of an authorized generic of prescription ZEGERID Capsules. Santarus is ceasing promotion of ZEGERID prescription products effective immediately and is implementing a corporate restructuring, including a workforce reduction of approximately 37%, or approximately 120 employees. Co expects to retain up to ~110 sales representatives, including a small number of contract sales representatives, to promote GLUMETZA, a product for the treatment of patients with type 2 diabetes. company expects to record restructuring-related charges in the third quarter totaling ~$7.4 mln to $8.5 mln. These charges include ~$5.3 mln to $6.0 mln in one-time termination benefit costs, $2.0 mln to $2.3 mln in contract termination costs and $0.1 mln to $0.2 mln in other costs associated with the workforce reduction. Santarus expects that selling and marketing expenses will be reduced by ~$40 mln annually beginning in the 2010 fourth quarter as a result of the corporate restructuring and workforce reduction.

16:06

APOL Apollo Group beats by $0.19, beats on revs; guides Q4 EPS above consensus, revs in-line with consensus (42.61 -0.52)

Reports Q3 (May) earnings of $1.74 per share, $0.19 better than the Thomson Reuters consensus of $1.55; revenues rose 27.7% year/year to $1.34 bln vs the $1.3 bln consensus. Co issues mixed guidance for Q4, sees EPS of $1.30, excluding non-recurring items, vs. $1.20 Thomson Reuters consensus; sees Q4 revs of $1.25 bln vs. $1.26 bln Thomson Reuters consensus.

16:06

MATK Martek Biosci announces restructuring plans for Winchester, Ky. manufacturing site (23.71 +0.07)

As part of the restructuring, to be completed by the end of fiscal 2010, co plans to reduce its workforce and transfer certain manufacturing and distribution processes. Co expects to incur total cash charges of ~$1.5 mln in fiscal 2010, of which $0.5 mln will be recognized in Q3 and $1.0 mln in Q4. In addition, co is evaluating the potential sale or lease of a portion of its Winchester operations. Any such sale or lease would be contingent upon co's ability to maintain the necessary production redundancies through continuing access to certain key processes at the Winchester facility and/or arrangements with contract manufacturers. Co expects that the plant restructuring will likely result in a non-cash asset impairment charge or loss upon sale of $30 mln- $40 mln in Q3 or Q4.

16:05

SHIP Seanergy Maritime reports additional management share purchase (1.14 +0.05)

The co announces that the Company's Chief Executive Officer, Mr. Dale Ploughman, purchased today 50,000 shares of Seanergy's common stock at a purchase price of $1.25 per share. This purchase has brought the number of shares purchased by Mr. Ploughman to a total of 100,000 shares. As previously announced, Mr. Ploughman had purchased on June 14, 2010, 50,000 shares at a purchase price of $1.2399 per share. All transactions were completed on the open market.</p>

16:05

WCC Wesco announces the acquisition of the business of Potelcom Supply, Inc. (33.67 -0.57)

Co announced that it has acquired the business of Potelcom Supply, Inc. headquartered in Anchorage, Alaska. Potelcom, a single branch operation with annual sales of approximately $25 million, supports the utility,

16:04

NECB Northeast Comm. Bancorp agrees to sell Northeast Community Bank branch office to Ponce De Leon Federal Bank (5.73 +1.00)

The purchase includes the assumption of approximately $28.6 million in deposits and the transfer of the fixtures, equipment and the real property at which the branch is located. No loans are being sold as part of the transaction. The completion of the transaction is expected in the fourth quarter, subject to regulatory approval and the satisfaction of certain other conditions described in the agreement.

16:04

SCHN Schnitzer Steel beats by $0.56, beats on revs (39.20 -0.64)

Reports Q3 (May) earnings of $1.43 per share, $0.56 better than the Thomson Reuters consensus of $0.87; revenues rose 84.2% year/year to $703.5 mln vs the $671.8 mln consensus. "Our sales volumes of ferrous metals in the first three quarters of fiscal 2010 have remained near the levels of the boom year of fiscal 2008 and we achieved record third quarter ferrous processing sales volumes, underscoring the long-term strength of the global demand for recycled metals. Our business model and platform allowed our Metals Recycling Business to respond nimbly to the swings in prices for recycled metals during the third quarter."

16:04

CNO Conseco announces financial settlement of regulatory matter (4.96 -0.05)

Co annouces its wholly owned subsidiary, Conseco Life Insurance Company, finalized a multi-state settlement agreement that requires the establishment of a $10 mln fund for certain owners of its Lifetrend life insurance products and payment of a $1 mln assessment to participating jurisdictions. As of today, 37 jurisdictions have signed the agreement.

16:03

CBST Cubist Pharma enrolls first patient in CXA-201 Phase 2 study in complicated intra-abdominal infections (20.60 -0.24)

Co announced the enrollment of the first patient in a Phase 2 study with CXA-201. This multicenter, double-blind, randomized, study will compare the safety and efficacy of intravenous CXA-201 with an active comparator in patients with complicated intra-abdominal Infections. This international study is expected to enroll 120 patients.

16:02

CBK Christopher & Banks beats by $0.06, misses on revs (6.21 -0.18)

Reports Q1 (May) earnings of $0.18 per share, $0.06 better than the Thomson Reuters consensus of $0.12; revenues rose 4.8% year/year to $126.2 mln vs the $128 mln consensus.

16:02

SNSS Sunesis Pharma sold $28.5 million of common stock at a price of $0.275 per share (0.47 )

16:02

BIIB Biogen Idec Names George Scangos Chief Executive Officer (47.45 )

Dr. Scangos, 62, brings nearly 25 years of experience in the biotechnology and pharmaceutical industries. He joinsco from Exelixis, Inc. where he has served as President and CEO since 1996. Under Dr. Scangos' leadership, Exelixis has built and advanced a pipeline of 14 clinical compounds and forged numerous strategic partnerships. Previously, Dr. Scangos spent 10 years at Bayer Corporation. He joined the company as a staff scientist, served as Senior Vice President of Research and Development, and most recently served as President of Bayer Biotechnology, where he was responsible for research, business development, process development, manufacturing, engineering, and quality assurance of Bayer's biological products. Before joining Bayer in 1987, Dr. Scangos was a Professor of Biology at Johns Hopkins University for six years.

16:01

CUZ Cousins Prop announces retirement of CFO Jim Fleming (6.73 -0.12)

16:00

CLNE Clean Energy Fuels contracted with solid waste operator Republic Services (15.16 +0.17)

Co contracted with major solid waste operator Republic Services (RSG) to deliver clean-burning, environmentally friendly LNG fuel to three Republic divisions in California: Republic Waste Services of Southern California, Consolidated Disposal and Solano Garbage through April 2015. Together, they provide waste collection and recycling services to residents and businesses in 55 California cities and communities. The LNG fuel requirement to support these operations is expected to exceed 3.5 million LNG gallons annually.

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