Briefing.com: Hourly In Play (R) – 14:00 ET
Jan 12, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 12-Jan-10 14:00 ET
13:39
ARCI Appliance Recycling Cntrs awarded a two-year contract by Puget Sound Energy (2.55 -0.02)
Co announced that it has been awarded a two-year contract by Puget Sound Energy to recycle approximately 12,000 old refrigerators and freezers for PSE residential electric customers from Jan. 4, 2010 through Dec. 2011. Through this program, PSE utility customers who turn in operating but energy inefficient secondary refrigerators and freezers are eligible for a $30 incentive for each qualifying appliance, with a maximum of two units per household. The PSE incentive is designed to offset the costs normally incurred when disposing of an old, secondary refrigerator or freezer. Through the program, PSE and ARCA will continue to prevent more than 95 percent of the recyclable materials in old refrigerators and freezers from entering the waste stream. The PSE customer refrigerators will be recycled at the ARCA plant in Kent, Wash.
13:36
SPY S&P 500 pulls back to short term support -Update- -Technical-
Noted the 1131/1129 support area in the 12:26, 13.24 updates but wanted to provide an hourly chart to highlight. Would watch 1136/1137 for an intraday read on the health of any bounce attempt.
13:33
COMDX COMEX Metals Closing Prices
Feb gold ended lower by $22.10 to $1129.30, March silver lost 33.5 cents to close at $18.36 and March copper shed 9.15 cents to finish at $3.3495.
13:24
COMDX Early afternoon sell off in crude, gold and silver comes as the dollar index has recouped earlier losses to move back to the flat line
Gold is now off $23.30 to $1128.10, silver is currently off 46 cents to $18.235 and crude oil is down $2.02 to $80.50.
13:24
SPY Another round of new session lows for the S&P -15 and Nasdaq -38 -- Dow -63 has not confirmed as it hovers just above -Update- -Technical-
The latest dip has brought support for the S&P in the 1131/1129 zone (12:26 update) into play -- session low 1131.77
13:19
GLD streetTRACKS Gold Shares drops a quick pt to fresh session lows as it eyes a test of its 20-day ema at 110.06 below (110.71 -2.18) -Update- -Technical-
13:16
COMDX Crude oil drops to new lows at $80.59; now off $1.80 to $80.72
13:14
VXX $VIX measurement of volatility jumps to session highs here @ midday with gains of nearly 10.25% after trading to new multi-month lows just yesterday -Technical-
Now @ 19.40 & nearing the 20.00 mark as we move through Jan. expiration cycle. Today's action highlights a jump in the 'fear factor' as the SPX corrects from a daily & weekly overbought state, now off -1.2%
12:52
COMDX Gold, silver sell off to their lowest levels of the day, at $1139.50 and $18.31 respectively
Gold is now off $11.30 to $1140.10 and silver is down 38 cents to $18.315
12:45
UNG Sector ETF strength & weakness here @ midday trading -Technical-
Actively Traded Leading Sector ETF Plays:
Nat gas- UNG +1.75%, US Bonds- TLT +1.5%, Yen currency shares- FXY +1.25%, iShares Japan- EWJ +.75%, SPDRS cons stpls- XLP +.5%
Actively Traded Lagging Sector ETF Plays:
Semis- SMH -3.75%, IGW -3.75%, Base metals- DBB -3%, Solar power- TAN -3%, SPDRS metals/mining- XME -3%, India- INP -3%, Gold miners- GDX -2.75%, China 25- FXI -2.75%, Ag/chem- MOO -2.75%, Clean energy- PBW -2.75%, Steel- SLX -2.5%, Basic materials- XLB -2.25%, IYM -2.5%, Coal- KOL -2.5%, Ag commods- DBA -2%, SPDRS homebuilders- XHB -2%
12:35
DIA Dow -72 joins S&P -13 and Nasdaq -35 at fresh session lows -Update- -Technical-
Finance XLF / RKH, Housing XHB, Semi SMH, Materials XLB, Airline, Gold Miners GDX, Solar TAN, Steel SLX, Ag/Chem MOO, Coal KOL are pacing the way on the latest downside extension.
12:26
SPY Fresh session lows for S&P -12 and Nasdaq -31, Dow -64 approaching its early low at 10591 -Update- -Technical-
The next short term support of interest for the S&P is in the 1131/1129 zone.
12:19
SPY S&P 500 -9.9 and Nasdaq Comp -24 hovering just above session lows -- Dow -48 -Update- -Technical-
12:17
XLF Financial Select Sector SPDR nearing short term support (15.03 -0.19) -Update- -Technical-
Noted the intraday relative weakness in the 12:03 update with the extension in recent trade bringing a short term support for the XLF into play in the 15.00/14.95 area (38% retrace of late Dec-Jan run congest, intraday averages) -- session low 15.02. The 50% and 62% retracements of this run are at 14.87 and 14.74 -- GS -2%, BAC -2.9%, JPM -2.6%, WFC -2.4%, MS -2.5%.
12:08
IYR iShares DJ Real Estate slips back in recent trade, hovering slightly above the session low at 45.53 (45.59 -0.63) -Technical-
The Jan lows/six day range floor are at 45.37/45.29.
12:06
GOOG Google sets fresh session low of 591.01, its low for the month set last week is at 589.11 (591.31 -9.80) -Technical-
Note that its 50 day sma/ema come into play at 586.12/584.13.
12:03
GENZ Genzyme sees Q4 revs of $1.08 bln vs $1.08 bln consensus (53.48 -0.42)
Co reported that preliminary fourth-quarter revenue was $1.08 bln vs $1.08 bln consensus, compared with $1.17 bln in the same period in 2008. Excluding the Genetic Disease business, which was affected by a product supply interruption, fourth-quarter revenue grew 24% compared with the same period in 2008 and full-year revenue grew 15%. Revenue in 2009 was driven in part by the successful launch of two new products: Synvisc-One, which drove a 25% increase in total sales of Synvisc from 2008 to 2009, and Mozobil, which generated revenue of $55 mln, exceeding guidance of $40-$50 mln. Genzyme has resumed production of Cerezyme, and the first shipments of new product began in November. Patients are expected to be able to resume normal dosing schedules in the first quarter of this year. Sales of Cerezyme were $106 mln in the fourth quarter, compared with sales of $306 mln in the same period in 2008. For the year, sales were $793 mln, compared with $1.2 bln the previous year.
12:03
XLF Sector Watch -Update- -Technical-
Stock indices are still above morning lows but have edged back off their bounce highs. The S&P 500 failed to take out important short term resistance noted in the 09:52 update at 1142 (rebound high 1141.53). Sectors that have weighed on a relative basis in recent trade (underperformed the S&P) include: Finance XLF / RKH, Oil Service OIH, Housing XHB, Semi SMH, Airline, Solar TAN, Steel SLX, Casino, REITs IYR.
11:59
European Markets Closing Prices: FTSE: 5498.71 -39.36 -0.7%, DAX: 5943.0 -97.5 -1.6%, CAC: 4000.1 -43.0 -1.1%
11:57
PPH Pharmaceutical HOLDRs Trust and Drug Index -DRG- hovering modestly under mult-week range top/52-wk highs (67.13 -0.01) -Technical-
The Drug sector outperformed the S&P from Sep into early Dec but has lagged on a relative basis over the last several weeks. It did not breakdown during this underperformance but instead formed a trading range with it vacillating near the upper end of this range again this week (Click for chart) -- ABT, AGN, EYE, BMY, BVF, FRX, HSP, JNJ, KG, LLY, MHS, MRK, MYL, PFE, SGP, VRX, WPI, WYE, ZMH.
11:44
NSC Norfolk Southern reports that the Crescent Corridor program has been endorsed by 60 legislators on Capitol Hill (54.00 -0.23)
11:34
SUN Sunoco tests/range trading slightly above its 200/50 day sma at 27.08/26.86 -- session low 27.00 (27.17 -1.19) -Technical-
Other refiners that have pulled back near and thus far held in the vicinity of their 50 day support include: WNR, HOC, TSO.
11:27
SNDA Shanda Interactive slumps lower this morning, eyeing its 20-day exponential moving average near 54.38 and its early December high along 54.47 (54.83 -4.17) -Technical-
11:25
STST Argon ST trading resumes (24.30 +0.33) -Update-
11:20
FOE Ferro awarded $1 million by the Ohio Department of Development to develop advanced durability sealing systems for solar cells (8.53 -0.14)
11:18
TXN Texas Instruments sets fresh session low of 25.20 (25.20 -0.80) -Technical-
The multi-wk range floor/Dec lows come into play at 25.12/25.06.
11:18
PBIO Pressure BioSciences issued five additional patents (1.61 +0.11)
Co announced that it has been issued five additional patents related to its novel, cutting-edge pressure cycling technology. Of the five patents, one was granted in the U.S., one in Japan, one in Canada, and two in Australia. With these grants, the Company now has 24 issued PCT patents: fourteen in the U.S., three in Europe, three in Australia, two in Canada, and two in Japan.
11:17
DCP Dyncorp Intl awarded delivery order under the Contract Field Teams contract (14.01 -0.08)
The U.S. Air Force has awarded DynCorp International (DCP) a delivery order under the Contract Field Teams (CFT) contract to provide organizational, intermediate, and depot-level aircraft maintenance and logistics support on all Naval Test Wing Atlantic aircraft and support equipment. Work will be performed at the Naval Air Station, Patuxent River, Md. The award, effective January 1, 2010, has a potential value of $88 million over 16 months.
11:15
KSS Kohl's sliding back toward early low at 51.46 (51.52 -1.21) -Technical-
The next support of interest if a penetration is seen is in the 50.97/50.88 area which marks its 200 day ema and five month low from Sep.
11:11
SPEX Spherix announced the completion of patient enrollment in its global Phase 3 clinical trial NEET (1.57 +0.12)
Co announced the completion of patient enrollment in its global Phase 3 clinical trial NEET (70971-004), which is evaluating the safety and efficacy of D-tagatose as an oral treatment for Type 2 diabetes mellitus. The company expects the efficacy results to be available as soon as mid-year, with the maintenance phase of the trial continuing through 2010.
11:03
Rumor Round Up
Today marks another busy rumor morning. Orbitz Worldwide (OWW 7.43 +0.21) saw some early morning strength after it was rumored peer Priceline.com (PCLN 213.83 -5.08) could be interested in the co. NCR Corp (NCR 11.98 +0.36) traded to fresh multi month highs after a rumor circulated that United Tech (UTX 71.40 -0.76) could be interested in the co. Stec Inc (STEC 18.91 +0.30) traded higher following a rumor IBM (IBM 130.77 +1.29) could be interested in the co. Finally PDL Biopharma (PDLI 6.89 +0.04) traded up about ~$0.15 after a rumor circulated that Roche could be interested in the co. We note the two companies have a licensing agreement; PDLI receives 3% royalties from Roche's drugs Avastin and Herceptin. 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.
11:00
DLX Deluxe announced exclusive agreement with BancVue that will make BancVue's REALChecking program available to Deluxe community financial institution clients (15.74 +0.06)
10:58
STST Argon ST explores strategic alternatives (23.93 -0.04) -Update-
Co announced that it is considering strategic alternatives, including acquisitions, mergers, sale of the Company or other transactions. In this regard, the Company has retained Stone Key Partners of Greenwich, CT. The Company's Board of Directors may also determine that none of these alternatives are appropriate at this time. The Company does not intend to disclose developments regarding the consideration of strategic alternatives unless and until the Company's Board of Directors has approved a specific transaction. (stock is halted)
10:51
ROLL RBC Bearings received two awards for clean energy manufacturing federal tax credits totaling $8.3 million (25.37 -0.10)
10:49
SPY Stock indices hovering just under morning rebound highs -- Dow -21, S&P -6, Nasdaq -15 -Update- -Technical-
10:45
WMT Wal-Mart displaying relative strength, edges above yesterday's high of 54.44 (54.49 +0.28) -Technical-
Its early month peak comes into play at 54.67.
10:42
KBALB Kimball Int'l unit won a major new contract by FLIR Systems (8.37 +0.26)
Kimball Electronics Group, subsidiary of Kimball International, announced that the Company has won a major new contract by FLIR Systems (FLIR) to manufacture the Tau Program infrared imaging electronics. The long-term contract was awarded for multiple electronics assemblies that will be used in FLIR's Commercial Division products for global markets. Kimball Electronics Group is a global top-twenty-ranked contract electronic manufacturing services (EMS) company that specializes in durable electronics with applications in the medical, automotive, industrial controls, and public safety industries.
10:40
USO U.S. Oil Fund ETF slips modestly below its gap down opening consolidation as it sinks down to probe its Jan range low near 39.87 -- late Dec gap below at 39.46 (40.04 -0.46) -Update- -Technical-
10:35
TLT Sector ETF strength & weakness through today's 1st hour of trading -Technical-
Actively Traded Leading Sector ETF Plays:
US bonds- TLT +1.5%, AGG +.25%, BND +.25%, Yen currecny shares- FXY +1.25%, Nat gas- UNG +1.25%, iSahres japan- EWJ +1%, Insurers- KIE +.75%
Actively Traded Lagging Sector ETF Plays:
Semis- SMH -2.5%, IGW -2.5%, base metals- DBB -2%, China 25- FXI -2%, Solar power- TAN -2%, Wind energy- FAN -1.75%, Steel -SLX -1.75%, Ag commods- DBA -1.5%, Clean energy- PBW -1.5%, India- INP -1.5%, Coal- KOL -1.25%, Cmmods- GSG -1.25%, DBC -1.25%, SPDRS metals/mining- XME -1.25%
10:33
STST Argon ST trading halted - news pending (23.93 -0.04)
10:28
INFY NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-
NDX 100 Best % Performers:
INFY +6.25%, CTSH +3.75%, ORLY +2.75%, LIFE +2.25%, DELL +1.5%, VRTX +1.5%, WYNN +1%, INTU +.5%, SYMC +.5%
NDX 100 Worst % Performers:
ERTS -7%, LRCX -4%, ALTR -3%, AMAT -3%, NVDA -3%, NWSA -2.75%, EXPE -2.5%, KLAC -2.5%, XLNX -2.25%, BIDU -2.25%, MXIM -2.25% NASDAQ TRIN @ +1.0
NASDAQ A/D @ -795
10:26
AXP Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-
INDU Best % Performers:
AXP +1.75%, PG +1.25%, IBM +.75%, KO +.75%, TRV +.75%
INDU Worst % Performers:
AA -8.5%, BAC -2%, CAT -2.25%, JPM -2%, INTC -2%, DIS -1.5%
NYSE TRIN @ +1.3
NYSE A/D @ -1230
10:23
Fitch affirms Saudi Arabia at 'AA-'; outlook stable
10:13
TUP Tupperware comments on Venezuelan currency (45.90 +0.05)
Co notes that the Venezuelan government announced its intention to devalue its currency. Tupperware's products are expected to fall into the non-essential classification. This change will not have any impact on the 2009 results of the Company. Effective with the beginning of its 2010 fiscal year, co will account for Venezuela as hyperinflationary and will use the exchange rate at which it expects to be able to remit dividends to translate its earnings and month end balance sheets. This is currently the "parallel" exchange rate that has last been quoted at 6.48 bolivars to the U.S. dollar. This rate is 67 percent worse than the 2.15 official exchange rate used by the Company to translate its 2009 earnings. In 2009, co recorded $8.4 million of pretax costs to convert, at the available parallel exchange rate, bolivars generated by its Venezuelan business. This cost will not recur in 2010, but conversion of the unit's earnings at the current parallel exchange rate would have an offsetting negative pretax translation impact on the comparison with 2009 of approximately $8 million. As these factors are roughly offsetting, they do not negatively impact the 2010 earnings guidance range provided by the Company in October 2009, which included a cost to convert bolivars at the parallel exchange rate.
10:12
DIA Dow rebounds 60 points off morning low -Technical-
10:08
RKT Rock-Tenn announces $50 per ton price increase on recycled paperboard (50.14 +0.71)
10:08
SMH Semiconductors Hldrs Trust vacillating near 20 day on morning thrust (27.78 -0.64) -Update- -Technical-
Firmly lower start for the sector ETF (some downgrades) with it holding thus far this morning near its 20 day exp at 27.73 (session low). However, unless it can work back through initial resistances near 28 and 28.10 on this push it looks vulnerable to further short term downticks. Next support is at 27.60/27.54 followed by 27.40/27.33 -- ADI -2.9%, ALTR -3%, AMAT -2.7%, AMD -4.1%, AMKR -3.3%, ATML -2.8%, INTC -1.9%, KLAC -2.1%, LSI -2.4%, MU -3.3%, MXIM -2.1%, NSM -2.4%, NVLS -2.7%, SNDK -2.5%, XLNX -2% (held near 50 ema).
10:05
XOM Exxon Mobil and Petrobras affiliates signed an agreement (69.78 -0.53)
Exxon Mobil Corporation (XOM) and Petrobras (PBR) announced that an ExxonMobil affiliate signed an agreement with a Petrobras affiliate and the Turkish National Oil Company (TPAO) to explore for hydrocarbons in the deepwater Black Sea offshore Turkey. Under the terms of the farm-in agreement, ExxonMobil Exploration and Production Turkey B.V. will acquire a 25 percent interest in the Sinop, Ayancik and Car amba sub-blocks of the AR/TPO/3922 exploration license. Petrobras will retain a 25 percent equity interest in the block and will remain the operator. TPAO holds the remaining 50 percent interest.
10:03
EOG EOG Resources jumps higher off its opening lows, to reclaim its 20-day exponential moving avearge near 96.50 area (96.74 -1.40) -Update- -Technical-
Next levels of interest are yesterday's low and close at 97.02 and 98.14.
10:02
SMH Sector Watch -Update- -Technical-
The indices opened firmly negative but have worked off session lows. Sectors that are pressuring include: Semi SMH -2%, Healthcare -1.9%, Solar TAN -1.8%, Gold/Silver -1.6%, Steel -1.6%, Housing XHB -1.5%, Coal KOL -1.5%, Oil Service OIH -1.4%, Energy XLE -1.2%, Ag/Chem MOO -1.1%, Media -1.1%.
10:01
BIIB Biogen Idec and Trillium enter into global license agreement (53.77 -0.13)
Trillium Therapeutics announces it has entered into a definitive license agreement with Biogen Idec (BIIB), granting the latter exclusive worldwide rights to one of Trillium's development programs. Under the terms of the agreement, TTI will receive an upfront payment and is eligible to receive milestone payments based on achievements of specified clinical, regulatory and commercial accomplishments. TTI will also receive royalties on global product sales. No other financial terms were disclosed. Biogen Idec will be solely responsible for clinical development, regulatory approvals, manufacturing and commercialization.
10:01
SOHU Sohu.com and Qunar to launch new travel service (58.61 -0.34)
The co and Qunar.com announced the formation of a strategic partnership to better meet the information needs of Chinese travelers. Cos will jointly offer through Sohu's Sogou Map Service a new travel information site, providing a range of contextual advertising formats that allow advertisers such as airlines and hotels to better target consumers.
10:00
SPIR Spire receives NREL go ahead for phase II of high efficiency concentrator solar cell contract (5.80 +0.15)
Co announced that its wholly owned subsidiary, Spire Semiconductor, has successfully completed Phase I of its High Efficiency Concentrator Solar Cell program with the Department of Energy's National Renewable Energy Laboratory (NREL) and has been notified the NREL will authorized Phase II of the program. Under the 18-month, $3.7 million cost share subcontract, Spire Semiconductor is developing technology to cost-effectively manufacture 42% efficient, 500 sun, concentrator solar cells for concentrator photovoltaic (CPV) systems.
10:00
MGM Casinos displaying some relative strength here -- MGM, LVS, WYNN (11.89 +0.99) -Technical-
09:57
GLD streetTRACKS Gold Shares hold yesterday's gap up low near 112.50 and moves to fresh opening highs (112.79 -0.06) -Technical-
09:56
SPG Simon Properties unit commenced a tender offer for ten outstanding notes (75.82 -0.88)
09:52
SPY S&P 500 tests/holds at secondary support -Technical-
Noted second level support for the S&P at 1136 in The Technical Take and have seen the index test and bounce off this level (currently at 1139). An intraday resistance of note to monitor is at 1142/1143 on this bounce attempt and on a close basis.
09:48
ERTS Electronic Arts sharply lower stabilizes near support zone (16.79 -1.49) -Update- -Technical-
Aggressive gap down open after earnings has thus far held near a support zone in the 16.50 to 16.35 area (session low 16.56).
09:47
IOC InterOil closing the gap down, now trading back at $79 (79.05 -0.04) -Technical-
Stock had a $12 move down, yesterday, to $71 but recovered about $8 of it in the afternoon.
09:44
IBM IBM received 4,914 U.S. patents in 2009 (129.92 +0.44)
Co announces that it received 4,914 U.S. patents in 2009. IBM also announced that, for the first time, it will offer its patent portfolio management software to clients seeking to enhance their intellectual property management capabilities in support of growth strategies.
09:38
AMZN Amazon.com slips lower off the open as it dips down into its 3-day range low of 128.80, just above its 50-day ema at 127.79 (128.70 -1.66) -Technical-
09:37
AA Alcoa extending gap down start, nears support zone (15.92 -1.51) -Update- -Technical-
It has extended the opening slide near support at its late Dec reaction low and 38% retracement of the late Nov/Jan rally at 15.77/15.64 (session low 15.83).
09:34
DIS Walt Disney gaps lower but thus far holds above Nov peak/50 ema at 30.92/30.85 -- session low 30.99 (31.07 -0.29) -Technical-
09:31
RADA RADA Electronic Industries announces conclusion of the legal proceedings with its former CEO and Chairman of the Board of Directors (2.51 -0.12)
Co reported that the National Labor Court has approved the arrangement between the Company and Nissenson, its former CEO and Chairman of the Board of Directors. As previously reported, the Regional Court has determined that Nissenson is required to repay the loans he has received of ~NIS3,000,000 and that the retirement agreement is null and void since it was not legally approved, tainted with misleading information provided by Nissenson and included provisions that were not properly approved by the Board of Directors. In addition, the National Court has determined that co shall pay Mr. Nissenson, on account of social benefits due to him, a gross amount of NIS760,000. Co and Nissenson have also reached an agreement with respect to the repayment of the loans pursuant to which NIS600,000 were paid in December 2009, additional NIS300,000 will be paid until May 1, 2010 and the balance will be paid in 50 equal, consecutive monthly installments commencing on January 15, 2010. The amounts due to Mr. Nissenson will be paid proportionally to these installments.
09:31
T AT&T announced a multi-year contract with The Switch to deliver broadcast video with live and on-demand high definition programming (26.81 )
Co announced a multi-year contract with The Switch to deliver broadcast video with live and on-demand high definition programming across more than 20 states. Owned and operated by Beers Enterprises, The Switch provides video images and sound to the broadcast industry, including television networks, local broadcast stations, and producers and distributors of television programming.
09:26
DEP Duncan Energy increases cash distribution rate to $0.445/unit from $0.4275/unit (24.85 )
09:23
KFN KKR Financial prices $150 mln convertible senior notes offering (6.68 ) -Update-
Co announces pricing of its public offering of Convertible Senior Notes due 2017. Total aggregate gross proceeds from the offering are approximately $150.0 mln, exclusive of any proceeds attributable to the underwriters' possible exercise of their over-allotment option. Interest on the Notes will be paid semi-annually at a rate of 7.5% per year and the Notes will mature on Jan. 15, 2017 unless earlier repurchased, redeemed or converted. The Notes will be convertible into cash, the company's common shares or a combination thereof at the company's election. The Notes will be convertible at an initial conversion rate of 122.2046 common shares per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $8.18 per common share, subject to adjustment in certain circumstances.
09:21
LGCY Legacy Reserves announces it has priced public offering of 4.25 mln units at $20.42/unit (21.50 )
09:17
HGR Hanger Orthopedic increases 4Q09 sales and EPS guidance (14.41 )
Co raises guidance, sees Q4 EPS of $0.35-$0.38 vs. $0.31 First Call consensus and sales of approximately $205 mln vs. $199.63 mln consensus. The revised earnings per share estimate represents between 35-46% growth for the quarter. Based on the new Q3 estimates, the company expects to report approximately $760 mln in sales and earnings per share in the range of $1.10-$1.13 for the full year.
09:15
MON Monsanto and Stokes Bio sign license agreement for gene analysis technology (85.01 )
Co and Stokes Bio Limited, announce that they have entered into a licensing agreement and R&D collaboration, which is expected to help accelerate the pace of new advancements in plant breeding. Under the agreement, Monsanto has exclusive rights to Stokes Bio's patented technology for use in agriculture. Stokes Bio's system utilizes microfluidic technology that can provide the same evaluations using much smaller sample sizes - as little as 1/1000th of what is currently required - which continually flow through the system in nanoliter-size droplets. Stokes Bio will deliver a number of these next-generation genotyping instruments to Monsanto next year.
09:13
EPD Enterprise Products increases quarterly cash distribution rate to $0.56/unit from $0.53/unit
09:09
On The Wires
Capstone Turbine (CPST) announces that it received an order for a C1000 power system from a large consumer-goods manufacturer in Chicago... Callaway Golf (ELY) announces the formation of Callaway Golf India, a new wholly-owned subsidiary that establishes a direct presence within one of the fastest growing markets on the global golf landscape. The Company also announced an agreement with Jeev Milkha Singh, the highest ranked Indian golfer in the world... PositiveID Corporation (PSID) announces that it plans to expand its HealthID division by adding products and tools for the daily management of diabetes. In addition to the continued development of its in vivo glucose-sensing RFID microchip to detect glucose levels in the human body, the Company is planning to broaden its technology platform by adding complementary non-invasive glucose-level testing technologies... Cleveland BioLabs (CBLI) announces that it intends to respond to a Request for Proposal recently issued by The Department of Defense for the advanced development, Food and Drug Administration approval/licensure and delivery of Medical Radiation Countermeasure... Density Dynamics, a majority-owned subsidiary of Speedus Corp. (SPDE), today announced the launch of the JetX10(TM)--a breakthrough acceleration and optimization appliance that allows users to fully maximize and harness the speed of Jet.io(TM) Solid State Drives to dramatically improve the performance of any large computing or write-intensive environment.
09:07
EFOI Energy Focus announces $12.3 mln in lighting, retrofit contracts awarded to Stones River Companies (0.94 )
Co announces that that its wholly owned subsidiary Stones River Companies was recently awarded seven lighting energy services contracts totaling $12.3 mln. Joseph Kaveski, CEO, Energy Focus, said: "We are pleased to announce this great start in 2010. I can only applaud the efforts of Rob and his team in securing these projects. Energy Focus will recognize about $7.2 mlnof the $12.3 mln since certain project work began just prior to the completion of the SRC acquisition. However, Energy Focus will receive the cash benefit of the $12.3 mln in receivables generated by these secured contracts."
09:06
FORM FormFactor lowers Q4 rev outlook; issues 1Q10 rev outlook below consensus (20.58 )
Co issues downside guidance for Q4 (Dec), sees Q4 (Dec) revs of $32-33 mln vs. $39.54 mln First Call consensus, from $38-39 mln previously. The lower than expected fourth quarter revenue results are due primarily to a delay in the timing of customer technology transitions, tooling cycles and volume plans. Co issues downside guidance for Q1 (Mar), sees Q1 (Mar) revs in the $40 mln+ range vs. the $45.82 mln consensus. The co continues to expect strong growth in 2010 fueled by design proliferation and volume ramps resulting in approximately 60% year over year revenue growth, plus or minus 10%. The company currently expects revenues in the first quarter of 2010 to be in the range of $40 million plus or minus 10%.
09:05
S&P futures vs fair value: -8.40. Nasdaq futures vs fair value: -13.30.
U.S. stock futures still look weak, while Europe's major bourses continue to struggle. Germany's DAX is down 1.6% amid broad-based weakness. At the moment, Henkel is the only component in the 30-member index that is in positive ground. In France, the CAC is off by 1.2%. Its declining issues outnumber its advancers by 7-to-1. Total (TOT) is a primary laggard at the moment. In Britain, the FTSE has shed 1.1% amid weakness in natural resource plays. In Asia, the Shanghai Composite Index spiked 1.9%, while the MSCI Asia Pacific Index mustered a 0.3% gain. Japan's Nikkei gained 0.7% after it reopened from a closed session on Monday. However, Japan Airlines continues to suffer; its shares were nearly halved amid ongoing bankruptcy concerns. In Hong Kong, the Hang Seng slipped 0.4%. Banks were particularly weak, though. China's central bank on Tuesday raised the auction yield on its one-year bills by a bigger-than-expected 8.29 basis points in another signal that it is tightening up monetary policy. After the close, China's central bank said reserve requirements will increase by 50 basis points from Jan. 18.
09:04
SPEC Spectrum Control unit selected by Thales Communications as the Supplier for the RF Power Amplifier (9.43 )
Co announced that its Spectrum Microwave Business Unit has been selected by Thales Communications as the Supplier for the RF Power Amplifier for the Extended Band Manpack, an accessory to the AN/PRC-148 JTRS Enhanced Multiband Inter/Intra Team Radio. Production of the RF Power Amplifier will be performed at Spectrum Microwave's Palm Bay, Florida operation and is currently expected to commence in early 2010.
09:02
XPL Solitario Resources announced "significant" new exploration and development activities are planned for 2010 (2.37 )
Co announced that significant new exploration and development activities are planned for 2010 on its high-grade Bongara zinc project in northern Peru. Solitario's partner and project manager, Votorantim Metais, has completed its 2010 planning and budgeting for the project. Highlights for 2010 include the initiation of road construction to the project area, initiation of underground access to the San Jorge deposit, metallurgical testing and an aggressive continuation of surface drilling to further define mineralization.
09:01
TGAL Tegal received a repeat order for a 981ACS plasma etch system (1.27 )
Co announced that it has received a repeat order for a 981ACS plasma etch system from a leading hard disk drive manufacturer to support a critical capacity expansion for magnetic data storage device fabrication. The new Tegal 981ACS unit adds to the customer's extensive installed base of Tegal 900 Series plasma etch systems already being used for precision photoresist descum applications in high volume manufacturing.
09:01
BHE Benchmark Elec says expects to exceed guidance for fourth quarter 2009 (19.45 )
Co announces that it expects sales and EPS to exceed the high end of guidance for Q4. On October 27, 2009, the co had provided Q4 guidance for sales between $520-$560 mln (vs $543 mln consensus) and diluted EPX, excluding restructuring charges, between $0.22-$0.26 (vs $0.24 consensus).
09:01
NKTR Nektar Therapeutics announces positive topline results for NKTR-102 from first stage of Ph. 2 study in platinum-resistant ovarian cancer (9.50 )
Co announces preliminary results from the first stage of a two-stage Ph. 2 clinical study evaluating NKTR-102 in women with platinum-resistant ovarian cancer. In the first stage of the study, 39 patients enrolled with platinum-resistant disease were evaluable for the primary endpoint of overall response rate using Gynecologic Cancer InterGroup criteria, i.e., a combination of response by tumor imaging and/or ovarian cancer biomarker criteria. The first stage of the NKTR-102 Ph. 2 study showed an overall GCIG response rate of 32% (6/19) in the once every 14 days dose schedule and 35% for the once every 21 days dose schedule. Confirmed objective response rates using RECIST were 21% and 22% for the q14 day and q21 day dose schedules, respectively. CA-125 response rates were 31% and 38%, for each dose schedule, respectively. The Ph. 2 study has now completed enrollment with a total of 71 patients. Approx one-third of the patients in the study remain on NKTR-102 treatment, including a number of patients in the first stage of the study.
09:01
SKX Skechers USA guides Q4 above expectations (29.43 )
Co announced that the Company expects its fourth quarter 2009 revenue will be in excess of $385 million compared to $298.1 million in the fourth quarter of the prior year and First Call consensus of $321.6 mln. This represents an increase of over $87 million, or approximately 30 percent over the Company's revenues for the prior year period. The Company expects diluted net earnings per share for its fourth quarter 2009 will be in excess of $0.50, compared with a net loss of $(0.44) in the fourth quarter of 2008, First Call Consensus $0.19.
09:01
CVS CVS Caremark increases quarterly dividend 15% to 8.75 cents/share (33.93 )
09:01
IVR Invesco Mortgage Capital prices 7 mln share common stock offering at $21.25 per share (21.50 )
09:00
RICK Rick's Cabaret reports Dec. same club sales rose 19.2% y/y (11.06 )
The co said sales at its nightclubs in December rose 23.7% over December 2008 while same club sales climbed 19.2% over the previous December. The company said sales at its clubs totaled $6.6 million for the month of December, compared with $5.3 million in the previous December. Sales at clubs operated for more than a year were $6.2 million, compared with $5.2 million in the previous December. The December results brought total sales for the company's first fiscal quarter ending December 31st to $19.6 million, a 15.7% increase over the $16.9 million recorded in the first quarter of the previous fiscal year.
09:00
TRIT Tri-Tech Holding awarded $1.68 million contract for wastewater treatment plant (21.51 )
08:45
TLP Transmontaigne Partners announces that it has priced offering to sell 1.75 mln common units at price of $26.60/share (28.00 )
08:45
ORBT Orbit Int'l receives new order in excess of $1.7 million for common transponder program (3.65 )
Co announces that its Electronics Group received a follow on order valued at more than $1.7 million for Remote Control Units to support the ongoing Common Transponder Program requirements of the U.S. Navy and U.S. Army. Deliveries under this contract are expected to commence during the third quarter of 2010, and be completed by the first quarter of 2011.
08:39
HIG Hartford Financial trading as high as $28.50 after raising guidance, 52 wk highs are at $29.59 (26.17 ) -Update- -Technical-
$29 is also an important resistance level. Other related stocks to watch include: ALL, XL, PGR, AFL, AIG, MET, PNC, ACE, GNW, PRU, and the insurance ETF is KIE. Last trade at $28.30
08:36
RFMD RF Micro Device announces it has hit its financial goals for 3Q10; sees 15% non-GAAP operating margin for FY10 and FY11; will be net cash positive by end of FY11 (4.77 )
Co at a conference today said RFMD had achieved its financial targets for its fiscal 2010 third quarter, ending January 2, 2010, related to revenue, non-GAAP gross margin, non-GAAP earnings per share and free cash flow. RFMD's CFO and vice president of administration, said that, based upon RFMD's December 2009 quarterly performance and current projections for the March 2010 quarter, RFMD believes its non-GAAP operating margin will converge on 15% for its fiscal 2010, ending April 3, 2010. Regarding future periods, RFMD indicated order and shipment momentum had extended into the March 2010 quarter. RFMD also reiterated previous guidance indicating it plans to achieve 15% non-GAAP operating margin for its fiscal 2011 and it expects to be net cash positive by the end of its fiscal 2011.
08:35
GCO Genesco reports same store sales for the qtr-to-date period ended Jan 9, 2010, were up 1% from the equivalent period last yr; reaffirms Q4 EPS in the range of $1.07-$1.13 (vs $1.12 consensus) (28.47 )
08:33
NMM Navios Maritime Partners announces Stratos Desypris as CFO and Michael McClure as Executive Vice President (15.65 )
08:32
MNDO Mind C.T.I. filed for court approval for future dividend distribution and buyback renewal (1.06 )
The co announces an update on its buyback program and the filing for a court approval to enable future dividend distribution. "Under Israeli law, a company with insufficient retained earnings is required to obtain approval from the court for such a cash distribution as well as for the buyback program that is considered a distribution. The Company filed today an application to approve both a future distribution of up to $3.7 million and the buyback of up to $1.8 million. We expect to obtain such court approval within 8 to 12 weeks, although there is no guarantee that such approval will not be delayed or denied. Prior to paying any dividend, which is still subject to specific Board approval, the Company will issue a press release announcing the exact dividend amount, record date and distribution date."
08:32
RGN Regenerex Biopharam: NIH awards over $5,000,000 for Tb4 research in 2009/2010 (0.59 )
Co announces that National Institutes of Health has awarded 12 research grants totaling over $5,000,000 for the study of Tb4 in 2009/2010. Many of these grants will be going to collaborators with whom RegeneRx is working to understand its numerous biological activities and capabilities in medical indications, including the role of Tb4 as an anti-inflammatory agent in tissue regeneration and its promotion of stem cell maturation.
08:31
BWA Borg Warner awarded Turbocharger business for 4-cylinder Ford Ecoboost engines (36.45 )
Co announces that Ford (F) selected BorgWarner's leading gasoline turbocharger technology for the company's new four-cylinder EcoBoost engine, scheduled to make its global debut early in 2010. The direct-injected 1.6-liter and 2.0-liter gasoline engines combine turbocharging and fuel injection technology to deliver greater fuel economy. As previously announced, BorgWarner will also supply turbochargers for rear-wheel drive trucks featuring Ford's 3.5-liter V6 EcoBoost engine. Ford expects up to 90% of its nameplates sold in North America will be available with downsized direct-injected turbocharged engines by 2013.
08:31
BIIB Biogen Idec announces TYSABRI surpasses $1 bln in 2009 sales as patients on therapy increase 30% (53.90 ) -Update-
Co announces in a presentation to investors today at the 28th Annual J.P. Morgan Healthcare Conference in San Francisco, Biogen Idec (BIIB) Chief Executive Officer James C. Mullen will outline the company's plan to continue to drive shareholder value. Mr. Mullen will reiterate that the company's business strategy is centered on the following areas to maximize shareholder value: Accelerating the growth of TYSABRI; Extending AVONEX and RITUXAN through lifecycle management; Advancing the company's broad and deep pipeline of more than 20 programs in Phase 2 and beyond; and maintaining disciplined use of cash through a combination of strategic investments and returning cash to shareholders. Co says TYSABRI achieved "blockbuster" status with more than $1 bln in sales as the number of patients on therapy grew by 30% over the prior year. Based upon data available to the company through the TOUCH prescribing program and other third-party sources as of the end of December 2009, the company estimates that approximately 48,800 patients were on commercial and clinical TYSABRI therapy worldwide.
08:31
CIT CIT Group names three new directors (33.79 )
Co announced that Gerald Rosenfeld, Anthony P. Terracciano and Laura S. Unger have been appointed to the Company's Board of Directors. CIT also announced that the Honorable Christopher H. Shays and Lois M. Van Deusen have resigned from the Board.
08:17
NHR North Asia Investment Corporation will merge with and into Pac City (9.90 )
Pacific City Financial Corporation (OTC Bulletin Board: PFCF) and North Asia Investment Corporation (NHR) jointly announced that they have entered into an Agreement and Plan of Reorganization, pursuant to which NAIC will merge with and into Pac City. Under the terms of the Agreement, NAIC shall be merged with and into Pac City, the separate corporate existence of NAIC shall cease, and Pac City shall continue as the surviving corporation in the Merger. In connection with the Merger, Pac City will issue to the shareholders of NAIC up to a total of 18,461,538 common shares (representing 70.6% of the total Pac City shares to be outstanding after the Merger) for all of the ordinary shares of NAIC upon closing of the Merger, based upon an exchange ratio of 3.0769 shares of Pac City common stock for each ordinary share of NAIC. Also, the number of Pac City shares to be issued in connection with the Merger has been reduced to reflect the voluntary conversion of 769,231 Pac City shares that would have been issued to NAIC's founders in exchange for 250,000 of their NAIC ordinary shares into 769,231 Pac City warrants in order to reduce the number of shares outstanding after the Merger. In addition, Pac City will issue 22,938,462 warrants to purchase Pac City common stock with a strike price of $2.44 per share for the 7,455,000 NAIC warrants outstanding with a strike price of $7.50 that are callable at $13.75. NAIC's securities will no longer trade or be outstanding after the consummation of the Merger.
08:12
ECONX Reminder: Trade Balance data due out in about 18 min at 8:30ET
08:11
On The Wires
Gilat Satellite Networks (GILT) announces that its wholly owned subsidiary, Spacenet, has been selected to provide its Prysm Pro network appliance, which enables a fully PCI compliant managed network services solution, to over 7,000 Regis Corporation North American locations... Science Applications International (SAI) announces that it has been awarded a task order by the Space and Naval Warfare Systems Command to provide modeling, simulation, and analytically based warfare analysis support to the Office of the Chief of Naval Operations' Assessment Division. The follow-on task order has a one year base period of performance, four one-year options, and a total value of more than $249 mln, if all options are exercised... The Thames Valley Cancer Network has implemented Aria for Medical Oncology from Varian Medical Systems (VAR) and already has more than 850 clinical staff routinely using the system... Masimo (MASI) announces a strategic investment totaling $3.5 mln in SEDLine, a newly-formed private company that was formerly operated by Hospira, Inc. Under terms of the investment agreement, Masimo may increase its investment subject to certain financial and development milestones. SEDLine's mission is to expand the scope and applications for neuromonitoring... The Western Union Company (WU) and Travelex have agreed to offer money-transfer services in Japan after Japan's new Financial Settlement Act is implemented by June 2010... Researchers are working at the Donald Danforth Plant Science Center have entered into a research collaboration with Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company (DOW), to study how its EXZACT Precision Technology can help improve the root crop cassava for people living in developing countries... NASDAQ OMX Group (NDAQ) announces that The NASDAQ Stock Market captured a total of 131 new listings in 2009. Included were 33 initial public offerings, more than any other U.S. exchange... XL Capital Ltd (XL) announces that it proposes to change the parent holding company's place of incorporation to Ireland from the Cayman Islands, with the parent holding company to be renamed "XL Group plc"... Genomic Health (GHDX) announces the publication of a prospective, multi-center, study that showed the Oncotype DX breast cancer test Recurrence Score had a significant impact on breast cancer treatment decisions for early-stage breast cancer patients while increasing patient satisfaction and physician confidence in those decisions. The study found that knowledge of a patient's Recurrence Score changed oncologists' treatment recommendations in 31.5% of cases and changed 27% of breast cancer patients' treatment decisions. The study was published online on Monday in the Journal of Clinical Oncology... CKE Restaurants (CKR) announces two franchise agreements that will bring an additional 31 Carl's Jr. restaurants to Texas over the next nine years... Navistar (NAV) announces it will receive more than $37 mln in federal funding to partner with the U.S. Department of Energy to pioneer new fuel efficiency and emissions-reducing technologies... Sigma-Aldrich (SIAL) announces that it has entered a distribution agreement with Eka Chemicals to offer Eka's Kromasil analytical HPLC columns for the separation and purification of small molecules, peptides and proteins in the pharmaceutical and biotechnology industries... China Valves Technology (CVVT) announces that it has signed a letter of intent to acquire 100% ownership in Able Delight Valve. Consideration for the acquisition is approximately $15 mln.
08:07
GHDX Genomic Health announces publication of data demonstrating that the Oncotype DX breast cancer test significantly influences breast cancer treatment decisions (17.31 )
Co announces the publication of a prospective, multi-center, study that showed the Oncotype DX breast cancer test Recurrence Score had a significant impact on breast cancer treatment decisions for early-stage breast cancer patients while increasing patient satisfaction and physician confidence in those decisions. The study found that knowledge of a patient's Recurrence Score changed oncologists' treatment recommendations in 31.5 percent of cases and changed 27 percent of breast cancer patients' treatment decisions. The study was published online on Monday in the Journal of Clinical Oncology.
08:07
NVAX Novavax announces positive preclinical results for its Respiratory Syncytial Virus vaccine candidate (3.02 )
Co announces that it has successfully completed a pre-clinical safety and efficacy study of its R.S.V. vaccine candidate in cotton rats. Results from this study are needed to support an Investigational New Drug application to advance this novel recombinant F protein particle based R.S.V. (RSV-F) vaccine candidate into clinical development. In the current study, NVAX tested its RSV-F vaccine candidate in cotton rats, a well accepted animal model for RSV infection and disease. The animals received two injections on days one and 21 with 1, 6 or 30 micrograms of RSV-F vaccine with or without an alum adjuvant. All dose groups produced antibodies that neutralize R.S.V., and with adjuvant, only a single injection of RSV-F was needed to induce high levels of neutralizing antibodies. The immunized cotton rats were challenged with live R.S.V. to test if they were protected from infection. High levels of virus were measured in unimmunized control animals but no R.S.V. was detected in the lungs of animals immunized with any dose of the Novavax RSV-F vaccine, with or without adjuvant. Co states, "We are excited to report steady progress towards the development of a vaccine against R.S.V., an important virus that is the leading cause of viral death in infants. A safe and effective vaccine against RSV is especially needed in very young children since RSV infection does not provoke lasting immunity. An effective vaccine would also be important in adults, especially the elderly, where RSV illness is common. There is currently no approved vaccine for the prevention of RSV and the market potential for such a vaccine could exceed $1 billion annually."
08:06
SVU Supervalu beats by $0.11, misses on revs; guides FY10 EPS above consensus, revs below consensus (12.92 )
Reports Q3 (Nov) earnings of $0.51 per share, $0.11 better than the First Call consensus of $0.40; revenues fell 9.4% year/year to $9.22 bln vs the $9.43 bln consensus. Co issues mixed guidance for FY10, sees adjusted EPS of $2.01-$2.11 vs. $1.86 consensus; sees FY10 revs of $41 bln vs. $41.22 bln consensus. Co expencts sales in the traditional food distribution business are expected to decline approximately 9%, primarily reflecting the completion of Target's previously announced plans to transition certain volume to self-distribution. Previously announced store closure and cost mitigation activities will total approximately $20 mln in pre-tax charges, or $0.06 per diluted share. Capital spending is projected to be approximately $700 mln, which will include 65 to 70 major store remodels, 25 to 30 minor remodels, three new traditional supermarkets and 45 to 50 new hard discount stores, including licensed stores.
08:04
ARTG Art Technology has acquired InstantService, a provider of live chat services (4.50 )
Co announced that it has acquired InstantService, a provider of live chat services, for $17.0 million in cash. The acquisition is not expected to have a material impact on ATG's non-GAAP earnings in 2010. The acquisition strengthens in the live help market by adding InstantService's 300 customers to ATG's existing base of 900 commerce platform and optimization services customers. It also creates immediate business opportunities for ATG's growing line of optimization services and market-leading ATG Commerce Suite.
08:03
CRAY Cray sees FY09 revs of ~$284 mln vs $284.90 mln First Call consensus; expects rev growth and profitability in 2010 (6.47 )
The co says based on preliminary results, total revenue for 2009 is now expected to be about $284 million and earnings are expected to be in the range of about break-even to a small loss from operations. Cash and short-term investments as of December 31, 2009 are expected to be above $110 million. Cray retired all remaining convertible notes during the fourth quarter of 2009. During the fourth quarter, a contract modification was not finalized and consequently a milestone was delayed in the agreement covering Phase III of the Defense Advanced Research Projects Agency's High Productivity Computing Systems program. This contract delay will have an approximately $7 million negative impact to net research and development expenses in the fourth quarter of 2009. Substantive talks regarding this contract are ongoing and the company expects to complete a contract modification and milestone in the first quarter of 2010. After the anticipated contract modification, the remaining amount of the contract is expected to be reduced by $60 million, to $92.5 million... "While a wide range of results remains possible, we expect revenue growth and profitability for 2010... Many variables may impact this outlook, but one significant item is the timing of the availability and release of our next generation supercomputer, code named "Baker," including the completion of development and testing of the Baker interconnect chipset, known as "Gemini," and associated system software. We currently expect Baker development to be completed in the third quarter 2010. As a result, we expect a significant majority of 2010 revenue to be recognized in the fourth quarter."
08:02
CAKE Cheesecake Factory pre-reports Q4 revs above consensus (21.26 )
Co says its Q4 (Dec) revenue was $401 mln vs the First Call consensus of $394.5 mln. Same store sales decreased 0.9% in Q4. Co will report full Q4 results on Feb 11.
08:02
CTFO China TransInfo Tech announces it received rmb 4 million technology innovation funds for TransPLE product (9.37 )
08:02
UTK Utek announces a new pricing model for its Pharmalicensing online service (4.95 )
Co announces a new pricing model for its Pharmalicensing online service; the pricing will be effective starting January 13th. UTEK's new Pay-per-Click pricing will create further market efficiencies for the Company's leading online licensing and partnering platform for the pharmaceutical industry. The pricing will provide additional opportunities for buyers and sellers to access the platform, and create a larger online IP marketplace. Pharmalicensing.com currently directs more than 190,000 visitors each month to emerging partnering opportunities posted by companies worldwide.
08:01
UAM Universal American Corp sees 2010 EPS in the range of $1.70-1.80, First Call consensus is $1.49; revs $5.3-5.6 bln, consensus $5.01 bln (12.99 )
Co expects its Medicare Advantage Benefit Ratio in the range of 83.5-85.5%. Co will be presenting at the JP Morgan Conference at 11am ET.
08:01
SYMC Symantec to acquire Gideon Technologies (18.36 )
The co announces it has signed a definitive agreement to acquire privately-held Gideon Technologies, a provider of standards-based information security solutions that automate and orchestrate IT security and risk management. Symantec is acquiring Gideon Technologies to extend Symantec's security portfolio with a leading Security Content Automation Protocol (SCAP) validated configuration and vulnerability assessment solution and to enhance its ability to serve the needs of public sector customers. The transaction is expected to close by the end of the March quarter and is subject to customary closing conditions. The financial terms of the acquisition are not being disclosed.
08:01
CWS China Wind Systems announces new Chief Financial Officer (7.73 )
The co announces the appointment of Ying (Teresa) Zhang as the Company's new Chief Financial Officer, effective January 11, 2010. Ms. Zhang replaced Leo Wang, who resigned as Chief Financial Officer on January 5, 2010 due to personal reasons. The Company also announced the appointment of Xuezhong Hua as an independent director, filling the vacancy created by the resignation of Lihua Tang on January 5, 2010.
08:00
CDII China Direct expects to begin delivery of approximately $9.4 million in pure magnesium and magnesium related products (2.14 )
Co announced that it expects to begin delivery of approximately $9.4 million in pure magnesium and magnesium related products in its second fiscal quarter and throughout calendar 2010 on several contracts with Fortune Global 500 companies including a new contract with a well respected European automobile manufacturer.
07:47
FFIV F5 Networks received notice from SEC that investigation concerning historical stock option practices has been completed; no enforcement action has been recommended (52.45 )
07:37
TIF Tiffany & Co raises FY10 guidance; reports holiday sales up 17% to $799 mln (46.68 )
Co raises guidance for FY10 (Jan), sees EPS of $2.07-2.12, excluding non-recurring items, vs. $1.92 First Call consensus, up from $1.88-1.98; co also sees FY10 (Jan) revs of $2.7 bln vs. $2.65 bln consensus. Co also reports Nov-Dec sales were up 17% to $799 mln. On a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, holliday worldwide net sales and comparable store sales increased 13% and 8%. Comps increased 12% in the U.S . 916% in Nov and 10% in Dec). "We experienced growth across a wide range of jewelry categories and price points. Overall, these better-than-expected sales results are, in turn, leading us to again increase our sales and earnings outlooks for the year ending January 31st."
07:33
On The Wires
ProLogis (PLD) announces that its static global development portfolio was 68.2% leased as of year-end 2009... Theragenics Corp (TGX) announces that it has signed an agreement with Core Oncology for the distribution of TheraSeed palladium-103 brachytherapy seeds. Under the terms of the agreement, TGX will be the exclusive palladium-103 seed supplier to Core for the treatment of prostate cancer in the U.S. and Canada... Conmed Healthcare Management (CONM) announces that it has signed an agreement with Garrett County, Maryland, for an initial period of 2.5 years. The contract has two one-year extension options and becomes effective January 19, 2010. With projected price increases the agreement is expected to generate revenues of approximately $1.0 mln over the full 4.5 year term... EMCOR Group (EME) announces that its Dynalectric Oregon subsidiary has been awarded several contracts for the installation of various electrical systems at the Oregon State Hospital facility, the primary state-run psychiatric hospital facility, located in Salem, Oregon... Shanda Games Limited (GAME) announces an agreement to acquire Mochi Media, a platform for distributing and monetizing browser-based games worldwide. The acquisition will combine Shanda Games' online game content with Mochi Media's distribution platform, creating online game media platform.
07:31
RGNC Regency Energy, GE Energy Financial Services and Alinda Capital Partners announce completion of construction of Haynesville expansion project (21.50 )
Regency Energy Partners, Alinda Capital Partners and an affiliate of GE Energy Financial Services announced that construction of the Haynesville Expansion Project has been completed and that they are currently completing testing and commissioning. The 121-mile Haynesville Expansion Project in North Louisiana, expected to be completed under budget, will transport gas from the Haynesville Shale, one of the fastest growing U.S. natural gas fields.
07:31
APA Apache latest oil discovery in Egypt's western desert tests 5,085 barrels per day (106.91 )
Co announces that its WKAL-A-2X discovery tested 5,085 barrels of oil and 130 thousand cubic feet of gas per day - the fourth successful exploration test in West Kalabsha Concession and the company's sixth discovery in the Faghur Basin play in Egypt's far Western Desert near the Libyan border. The WKAL-A-2X discovery is located about one-half mile north of the Apache WKAL-A-1X discovery and five miles west of Apache's Phiops Field. Apache plans to drill seven additional exploration wells in the Faghur Basin play during 2010.
07:30
CRDN Ceradyne receives $12.4 mln SAPI body armor order (19.75 )
Co announces that it has received a $12.4 mln order for SAPI (Small Arms Protective Inserts) lightweight ceramic body armor. The order was issued by the U.S. Army RDECOM, Aberdeen Proving Grounds, Maryland. The company expects shipments to be completed in the first quarter 2010. The order is a Foreign Military Sales requirement.
07:17
COMDX Crude oil has recently dropped to its lowest levels of the morning at $81.27; currently lower by $1.05 to $81.47
07:17
AMR American Air, British Airways, Qantas and Cathay Pacific outline $2 bln in commercial benefits to Japan Airlines over three years (8.05 )
American Airlines, along with fellow oneworld Alliance founding members British Airways, Qantas Airways and Cathay Pacific Airways, outline $2 bln in commercial benefits to Japan Airlines over three years. The enhanced, broad-based commercial offer would serve as a component of a government-led restructuring plan for JAL. As part of the proposal, JAL would remain a key partner in oneworld.
07:15
AMR AMR Corp: American Airlines, British Airways, Qantas Airways, Cathay Pacific Airways and the oneworld Alliance Offer $2 billion in enhanced commercial benefits for Japan Airlines (8.05 )
American Airlines, along with fellow oneworld Alliance founding members British Airways, Qantas Airways and Cathay Pacific Airways, today outlined USD $2 billion in commercial benefits to Japan Airlines (JAL) over three years. The enhanced oneworld proposal would provide JAL the best path to future success while minimizing risk for the Japanese government and taxpayers and maximizing the benefits for air travelers. The enhanced, broad-based commercial offer would serve as a key component of a comprehensive, government-led restructuring plan for JAL. As part of the proposal, JAL would remain a key partner in oneworld, a collection of 11 of the most respected brands in the airline industry. The proposal also includes a pledge - if welcomed - to offer JAL guidance and expertise from partners that have successfully executed airline restructurings.
07:08
SYK Stryker announces upside Q4 revs; narrows FY09 EPS in-line and issues FY10 EPS in line (55.25 )
Co issues upside guidance for Q4 (Dec), sees Q4 (Dec) revs up 6.8% to $1.834 bln vs. $1.80 bln First Call consensus (up 2.5% in constant currency). Co issues in-line guidance for FY09 (Dec), sees EPS of $2.94-2.96, excluding non-recurring items, vs. $2.94 consensus. Co issues in-line guidance for FY10 (Dec), sees EPS of $3.20-3.30, excluding non-recurring items, vs. $3.29 consensus. The financial forecast for 2010 includes a constant currency net sales increase of 5-8% as a result of growth in shipments of Orthopaedic Implants and MedSurg Equipment -- consensus calls for a 7.7% increase in FY10 sales (not in constant currency). If foreign currency exchange rates hold near current levels, the co anticipates net sales will be favorably impacted by approximately 4% to 5% in the first quarter of 2010 and by approximately 1.5% to 2.5% for the full year of 2010. "It was nice to end the year on a stronger note. We are particularly pleased that in a challenging year, our U.S. orthopaedic implant businesses performed well. Additionally, we are feeling better as we enter 2010 that our MedSurg franchises have stabilized and are showing signs of a modest recovery."
07:07
REXX Rex Energy announces public offering of 5.5 mln shares of its common stock (12.40 )
07:06
REXX Rex Energy announces year-end reserves, 2010 capital budget and marcellus shale operational update (12.40 )
Co announces its total proved oil and natural gas reserves as of December 31, 2009 increased 90% from 2008 year-end estimates to 125.2 billion cubic feet of natural gas equivalent ("Bcfe"). Additionally, the company announced that the board of directors has approved a capital budget of $100.1 million for 2010. Rex Energy's total proved reserves for natural gas, crude oil and natural gas liquids as of December 31, 2009 were 125.2 Bcfe, consisting of 11.5 million barrels of crude oil and NGLs and 56.2 billion cubic feet of natural gas.
07:05
ASBC Assoc Banc-Corp priced a ~38.99 mln share common stock offering at $11.15/share (11.48 )
07:05
MED Medifast comments on "false and misleading" allegations (26.32 )
An Independent Committee composed of Board of Directors of Medifast was constituted in February, 2009 to review public allegations of a third party, convicted felon Barry Minkow, and his network of alleged independent experts, posted on Minkow's website alleging illegal activities of Take Shape For Life, a direct selling company and a subsidiary of Medifast. The independent Directors' Committee, after investigation of facts and information concluded the allegations were false, misleading, and/or without merit. The same is true for the re-issue of the report posted January 8, 2010 - the allegations are false, misleading, and/or without merit. The company has made a formal complaint to the United States Securities and Exchange Commission and the Maryland Securities Commissioner. Michael S. McDevitt, chief executive officer of Medifast, Inc., said, "Our diversified product distribution model continues to operate very efficiently and we believe that will continue to be the case for the foreseeable future. We will be reporting year-end financial results in early to mid-March 2010 and we believe those results will reflect our confidence."
07:04
VLNC Valence Tech confirms a $3.1 mln purchase order from The Tanfield Group to deliver advanced battery modules for both lines of fully electric vehicles in its range, the Smith Edison and Smith Newton. (0.92 )
07:03
DSW DSW raises FY09 EPS outlook to a range of $1.15 to $1.25 from previous ests of $0.90 to $1.00 and consensus ests of $0.99 (25.50 )
07:03
NTY NBTY Inc reports preliminary net sales for Q1 sees Q1 (Dec) revs of $751 mln vs. $712.74 mln First Call consensus (44.50 )
Co reports preliminary net sales for Q1 sees Q1 (Dec) revs of $751 mln vs. $712.74 mln First Call consensus. Co says North American Retail same store sales increased 4% for the fiscal first quarter ended December 31, 2009, compared to the prior like quarter. European Retail same store sales increased 6% and total European Retail net sales increased 8% for fiscal first quarter ended December 31, 2009, in local currency (British Pound Sterling).
07:03
CRA Celera Genomics grants a license to the University of California, San Francisco for the development of KIF6 Testing (7.17 )
Co announced that it has licensed its KIF6 discoveries to the University of California on behalf of its San Francisco Campus. Through this agreement, the University of California, San Francisco will be the first laboratory in the United States in addition to Berkeley HeartLab, a subsidiary of Celera Corporation, to have access to the relevant intellectual property to develop and perform an in-house test for the KIF6 gene variant previously reported by Celera and its collaborators.
07:02
BCRX BioCryst Pharm and moksha8 announce approval for the importation & use of peramivir in Mexico (8.17 )
Co announces that moksha8 has been granted approval from The Federal Commission for the Protection against Sanitary Risk in Mexico for the importation and use of peramivir in patients with influenza associated with the 2009 H1N1 influenza A strain. moksha8 has informed BioCryst that it has also filed for regulatory approval of peramivir in Brazil.
07:02
SPPI Spectrum Pharma completes enrollment in second of two Phase 3 Pivotal Trials for apaziquone in non-muscle invasive bladder cancer (4.61 )
Co announced that the second of two Phase 3 pivotal clinical trials of apaziquone has achieved its enrollment target. The two trials enrolled more than 1600 patients with non-muscle invasive bladder cancer. As per the collaboration agreement with Allergan, a $1.5 million milestone payment will be paid to Spectrum Pharmaceuticals.
07:01
BDSI BioDelivery Services granted a meeting with FDA to discuss the clinical development of BEMA Granisetron (4.11 )
Co announces that it has been granted a meeting with the U.S. Food and Drug Administration to discuss the planned Investigational New Drug application for BDSI's antiemetic product candidate, BEMA Granisetron. The meeting will take place on March 17, 2010. The company will discuss with the FDA clinical development and regulatory plans for BEMA Granisetron, which is anticipated to enter Phase 1 studies in the second quarter of 2010.
06:34
RMKR Rainmaker Sys sees Q4 revs of $10.6 mln to $11 mln vs $11.8 mln single analyst est (1.57 )
Co provided a business update in advance of its upcoming presentation at the Needham Growth Conference on Wednesday, January 13. Rainmaker now expects revenue for the fourth quarter of fiscal 2009 to be in the range of $10.6 mln to $11 mln vs $11.8 mln single analyst est. Fourth quarter 2009 revenue was impacted by the difficult economic environment around the fourth quarter holiday period including deferred purchase decisions, and some client programs that began later than expected. Rainmaker also announced today that it has signed a number of new clients, including a significant new client agreement with a major telecommunications company that is expected to contribute in excess of $3 mln in annual revenue when fully ramped and is expected to begin in the second quarter of fiscal 2010. Rainmaker is also seeing a robust and growing business pipeline and anticipates growth for its first quarter 2010 revenue and accelerating growth for full-year 2010 results. Rainmaker will be reporting its final fourth quarter and full-year 2009 financial results in mid-February.
06:33
CBZ CBIZ Inc acquires employee benefits firm - National Benefit Alliance (7.52 )
Co announces the acquisition of National Benefit Alliance, an employee benefits firm located in Midvale, Utah, effective January 1, 2010. NBA has 16 associates and recorded approximately $2.0 million in revenue during the past twelve months.
06:33
VICL Vical licensee AnGes MG reaches agreement with FDA for Phase 3 Trial of Collategene angiogenesis product (3.47 )
Co announces that their licensee, AnGes MG, reported approval by the U.S. Food and Drug Administration of the Special Protocol Assessment agreement for a Phase 3 clinical trial of its Collategene angiogenesis product for patients with advanced peripheral arterial disease. The study will be multinational, randomized and placebo-controlled with a target population of 560 patients.
06:20
S&P futures vs fair value: -8.40. Nasdaq futures vs fair value: -13.20.
06:20
Asian Markets
Nikkei...10879.14...+80.80...+0.80%. Hang Seng...22326.64...-84.90...-0.40%.
06:20
European Markets
FTSE...5492.02...-46.00...-0.80%. DAX...5990.84...-49.90...-0.80%.
06:05
STXS Stereotaxis is notified of the FDA approval of an additional magnetic irrigated catheter (4.07 )
Co announces the Celsius RMT ThermoCool catheter has been approved by the FDA for use with Stereotaxis' magnetic navigation system for the treatment of Type 1 atrial flutter. The product is the fifth advanced ablation catheter resulting from the on-going co-development agreement between Stereotaxis and Biosense Webster to design and distribute magnetically enabled catheters for mapping and ablation.
06:05
PCS MetroPCS releases 4Q09 subscriber results (7.19 )
In 4Q09, on a consolidated basis, MetroPCS reported gross additions of 1.3 mln subscribers, which represents an increase of 2% over 4Q08. Churn for 4Q09 was 5.3% compared to 5.1% in 4Q08. One of the key drivers of the increase in churn was incremental gross additions of approx 1.3 mln during the nine months ended September 30, 2009 as compared to the same period in 2008. MetroPCS ended 4Q09 with over 6.6 mln subscribers, which includes net additions during the quarter of 317K subscribers. MetroPCS added approx 1.3 mln subscribers during the twelve months ended December 31, 2009.
06:04
BIIB Biogen Idec submits application in Europe for the approval of Fampridine-PR tablets to improve walking ability in people with multiple sclerosis (53.90 )
Co announces the submission of a marketing authorization application to the European Medicines Agency for Fampridine Prolonged Release tablets, a novel oral therapy for the improvement of walking ability in adult patients with multiple sclerosis. The company also has filed a New Drug Submission to Health Canada.
06:03
SCLN SciClone Pharma and Sigma-Tau announce positive preliminary results in clinical study examining ZADAXIN'S ability to enhance response to H1N1 vaccine (2.77 )
The co and its partner Sigma-Tau S.p.A. have received initial topline results in a clinical study evaluating the potential of ZADAXIN to enhance immune response to the MF59 adjuvanted H1N1 influenza monovalent vaccine, Focetria from Novartis (NVS). According to investigators, ZADAXIN treatment given with the H1N1 vaccine led to a highly statistically significant increase in the percentage of subjects who seroconverted at 21 days after vaccination, when compared to those who received the H1N1 vaccine alone.
02:04
MOH Molina Healthcare reports preliminary 4Q09 and FY09 results (25.12 )
Co issues mixed guidance for Q4 (Dec), sees EPS of ($0.25)-($0.10) vs. $0.24 First Call consensus; sees Q4 (Dec) revs of $962.0 mln vs. $945.60 mln consensus. Co issues mixed guidance for FY09 (Dec), sees EPS of $1.12-1.26 vs. $1.63 consensus; sees FY09 (Dec) revs of $3.7 bln vs. $3.64 bln consensus. In commenting on the preliminary results, J. Mario Molina, M.D., President and CEO, said, "In our third quarter earnings report in October, we talked about the several factors - including the H1N1 flu, higher utilization associated with new members, and state budget shortfalls - which were the basis for our withdrawing our earnings and medical cost guidance for the remainder of 2009. These same factors continued to exert significant downward pressure on our earnings in the fourth quarter. Of these factors, costs associated with the H1N1 flu were the single greatest contributor to our loss in the quarter." Co expects 4Q09 medical care ratio of 87.2% vs 84.7% in 4Q08. Co expects medical care ratio of 86.7% in FY09 vs 84.8% in FY08.
01:54
On The Wires
B&G Foods (BGS) announces pricing of a registered public offering of $350.0 mln aggregate principal amount of 7.625% senior notes due 2018... United Airlines, a wholly-owned subsidiary of UAL (UAUA), announces that it priced two offerings of secured debt securities totaling $700 mln, consisting of $500 mln aggregate principal amount of 9.875% senior secured notes due 2013 and $200 mln aggregate principal amount of 12.0% senior second lien notes due 2013... QIAGEN N.V. (QGEN) announces that it has acquired ESE GmbH, a privately held developer and manufacturer of UV and fluorescence optical measurement devices; transaction is valued at up to $19.0 mln in cash.
01:53
CELL Brightpoint approves increase of its previously announced share repurchase plan by $30 mln, allowing aggregate share repurchases of up to $80 mln (6.72 )
01:51
INFY Infosys beats by $0.08, beats on revs; guides Q4 EPS above consensus, revs above consensus; guides FY10 EPS above consensus, revs above consensus (54.83 )
Reports Q3 (Dec) earnings of $0.59 per share, $0.08 better than the First Call consensus of $0.51; revenues rose 5.2% year/year to $1.23 bln vs the $1.17 bln consensus. Co issues upside guidance for Q4, sees EPS of $0.56 vs. $0.51 consensus; sees Q4 revs of $1.24-1.25 bln vs. $1.19 bln consensus. Co issues upside guidance for FY10, sees EPS of $2.26 vs. $2.14 consensus; sees FY10 revs of $4.75-4.76 bln vs. $4.66 bln consensus.
01:48
MASI Masimo receives payment following Court of Appeals affirmance of antitrust liability verdict against Tyco HealthCare (29.39 )
Co announces that it retained $30,064,684 from a payment from Covidien (COV), following the Ninth Circuit Court of Appeals' October 2009 affirmance of a Federal District Court decision that Tyco Healthcare, now Covidien, violated the antitrust laws through anticompetitive business practices related to the sale of its pulse oximetry products. The decision found that Covidien had unlawfully maintained monopoly power in violation of Section 2 of the Sherman Act, and that Covidien's sole-source agreements and market-share based compliance pricing contracts constituted unlawful restraints of trade in violation of Section 1 of the Sherman Act and unlawful exclusive dealing in violation of Section 3 of the Clayton Act. The Ninth Circuit also stated that above-cost bundling discounts when combined with sole-source or market-share-based compliance contracts can be anticompetitive when such practices involve a significant portion of the market. The suit was originally filed by Masimo in 2002. The judgment against Covidien for the antitrust violations was for $43.5 mln; however, the total payment, after reimbursement for legal fees, costs, and interest was $58,982,215.
18:31
CPA Copa Holdings announces 6.6% traffic growth for December 2009 (55.38 -1.23)
For the month of December 2009, Copa Holdings' system-wide passenger traffic increased 6.6% while capacity increased 2.9%. System load factor for December 2009 was 76.9%, a 2.7 percentage point increase when compared to December 2008.
18:17
XJT ExpressJet reports December 2009 performance (4.56 -0.12)
During the month, XJT revenue passenger miles (RPM) totaled 692 mln, and available seat miles (ASM) flown were 873 mln. XJT's December load factor, operating as Continental Express, was 79.3%. The co flew 57,465 block hours and operated 29,975 departures during the month as Continental Express. During the month, XJT transitioned four aircraft from its Continental Express flying to begin preparing for the multi-year agreement that begins with United Airlines in May 2010.
18:11
SMG The Scotts Miracle-Gro Co announces pricing of offering of $200 mln of senior notes at 99.254% of the principal amount (39.97 +0.27)
Co announced that it has priced its $200 mln aggregate principal amount of 7.250% Senior Notes due 2018. The notes are being sold to the public at 99.254% of the principal amount thereof, to yield 7.375% to maturity. The notes will be general unsecured senior obligations of the co. As of the issue date, the notes will be guaranteed by each of the Company's subsidiaries that guarantees the co's senior secured credit facilities. The Company intends to use the net proceeds from the offering to repay outstanding borrowings under its senior secured revolving credit facility.
18:09
CRUS Cirrus Logic raises Q3 revs above consensus; guides Q4 revs above consensus (6.62 -0.06)
Co raises Q3 revs to $65 mln vs. $60.8 mln consensus, up from $58-62 mln. The increase over forecasted revenue was driven by stronger than anticipated demand for a broad range of audio products, as well as modest improvement in demand for energy products. Co sees Q4 revs of $53 mln vs. the 49.0 mln consensus.
18:03
SNDA Shanda Online appoints Xu Chaojun Chief Operating Officer (59.00 +0.08)
Co announced the appointment of Mr. Xu Chaojun as its Chief Operating Officer. Prior to joining Shanda Online, Mr. Xu served as vice president of Oak Pacific Interactive from 2006 to 2009 and was in charge of Xiaonei.com, now named Renren.com, which he helped to develop into one of the country's largest and most influential SNS websites.
18:01
GME GameStop announces capital allocation strategy including $300 mln share repurchase program (20.32 +0.03) -Update-
Co announced its 2010 Capital Allocation Plan. The plan will provide ample investment capital for continued aggressive new store expansion worldwide and allow GameStop to enhance shareholder value through a $300 million share repurchase program approved by its Board of Directors today. Purchases will be executed according to market conditions. The impact of the entire $300 million buyback at today's share price would result in accretion to EPS of approximately 10%.
17:52
CAMD California Micro raises Q3 revs guidance to $12.5-12.6 mln, up from $12.5 mln (4.70 +0.01)
Co sees GAAP EPS of a loss of $0.03, vs. consensus of a loss of $0.03. Co raises Q3 revs guidance to $12.5-12.6 mln vs. $11.5 consensus, up from $12.5 mln.
17:49
BELM Bell Micro raises Q4 revs guidance above consensus (3.45 +0.09)
Co raises Q4 revs guidance to $830-840 mln vs.$807.24 mln First Call consensus, up from $796-819 mln. Co said, "Sales have increased by close to 20% from Q2 of 2009. We have seen improvements in business in all geographies and most product categories. The product categories of storage components, storage systems, and computer systems have been strong contributors to our growth. We are optimistic that the improvement in demand in the last half of 2009 is an indicator of improved market conditions as we go forward in 2010." Preliminary net sales for each of the three major geographies consisted of the following: Following a strong Q3, North American net sales increased 3% sequentially and 1% year-over-year. Additionally, Europe net sales increased 17% sequentially and 13% year-over-year. Finally, Latin American net sales increased 6% sequentially and 19% year-over-year.
17:37
ZRBA Zareba Systems announces merger agreement with Woodstream Corp; ZRBA shareholders to receive $9.00 cash per share (4.51 -0.22)
17:34
ARB Arbitron announces resignation of Chief Executive Officer Michael Skarzynski (26.70 -0.26)
Co announced today that, effective immediately, Michael P. Skarzynski has resigned as President and Chief Executive Officer, and as a member of the Company's Board of Directors. Also effective immediately, William T. Kerr, a member of the Company's Board of Directors, will become Arbitron's President and Chief Executive Officer.
17:16
AKS AK Steel announces price increase for carbon steel products (24.91 -0.86)
Co said that it will increase spot market base prices by $60 per ton, effective immediately with all new orders for its carbon steel products. AKS also said that it has also increased zinc coating extras for its galvanized steel products.
17:09
PX Praxair issues $500 mln of 2.125% notes due June 14, 2013 (82.26 +0.77)
Co said the offering is expected to close on January 14, 2010. The co anticipates using the proceeds of the offering to repay short-term debt, including the co's $500 mln Floating Rate Notes due May 26, 2010, to fund share repurchases under the company's share repurchase program and for general corporate purposes.
17:02
VMED Virgin Media announces offering of 500 million equivalent of senior secured notes due 2018 (17.14 +0.10)
17:01
SUBK Suffolk Bancorp unit reports update on investigation into the unauthorized intruder (28.27 -0.35)
Co announced that on December 24, 2009, its banking subsidiary, the Suffolk County National Bank ("SCNB") discovered through an internal security review that an unauthorized intruder accessed certain customers' Log In information via the computer server hosting SCNB's Online Banking system. Based on SCNB's investigation, which is ongoing, the unauthorized access occurred during a finite, six-day-period between November 18 and November 23, 2009. 8,378 Online Banking customers were affected, amounting to less than 10 percent of SCNB's total customers. Although the intrusion was limited in duration and scope, SCNB immediately isolated and rebuilt the compromised server and took other measures to ensure the security of data on the server. To date, SCNB has found no evidence of any unauthorized access to Online Banking accounts, nor received any reports of unusual activity or reports of financial loss to its customers.
17:01
CVX Chevron reported in its interim update that earnings for Q4 2009 are expected to be lower than in Q3 2009 (80.88 +1.41) -Update-
Co reported in its interim update that earnings for Q4 2009 are expected to be lower than in the third quarter 2009 (The Q4 EPS First Call consensus is $1.75 First Call consensus and co reported Q3 EPS of $1.72). Upstream earnings are projected to be in line with Q3 results as the benefit of higher commodity prices is offset by the absence of gains recognized in Q3 associated with formal approval of the Gorgon project in Australia. Downstream results are expected to be sharply lower, mainly due to significantly weaker refining margins.
17:01
TREE Tree.com settles intellectual property suit, certain loan loss exposures, and announces approval of a $10 million stock repurchase program (9.15 -0.09)
The co announces that it has completed multiple settlement negotiations which will end uncertainties to specific contingent liabilities and cash outflows. These matters include items related to intellectual property litigation previously described in the Company's SEC filings, and settlements with two buyers of stated income loans from its LendingTree Loans subsidiary. The Company anticipates that it will record $16.3 million of charges in Q4 2009 related to these matters and other litigation and will provide details in its SEC filings. Additionally, the Company announced that its Board of Directors has approved a stock repurchase program for an amount up to $10 million. The program authorizes repurchases of common shares in the open market or through privately-negotiated transactions. The Company expects to use available cash to finance these repurchases and will determine the timing and amount of them based on its evaluation of market conditions, applicable SEC guidelines and regulations and other factors. The Company currently has approximately 10.9 million common shares outstanding. This program may be suspended or discontinued at any time at the discretion of the Board of Directors.
16:49
NLST NetList files for $30 mln mixed securities shelf offering (5.21 -0.06)
16:48
AA Alcoa resumes trading... initially drops almost a point (17.45 +0.43) -Update-
16:45
HNZ HJ Heinz reaffirmed FY10 EPS in-line with consensus (42.40 -0.01)
HNZ reaffirmed FY10 EPS of $2.72-2.82 vs. the $2.82 First Call consensus. The FY10 EPS includes a preliminary estimate of the impact from the currency devaluation in Venezuela.
16:44
HNZ reaffirmed FY10 EPS of $2.72-2.82 vs. the $2.82 First Call consensus
16:42
YRCW YRC Worldwide: S&P raises ratings on YRC Worldwide to 'CCC-' from 'SD' (0.87 +0.02)
Standard & Poor's Ratings Services today raised its corporate credit rating on YRC Worldwide to 'CCC-' from 'SD' (selective default). At the same time, we raised the senior unsecured issue-level ratings to 'CC' from 'D' on the company's remaining notes that were subject to the exchange offer, as well as a '6' recovery rating, indicating negligible (0%-10%) recovery of principal in a payment default scenario. The company has issued a combination of common and preferred equity in exchange for the existing notes. "The ratings actions on YRCW follow the company's issuance of $470.2 million in common and preferred equity on completion of the company's previously announced debt-for-equity exchange offer on Dec. 31, 2009," said Standard & Poor's credit analyst Anita Ogbara. The outlook is developing. Despite the company's improved capital structure, YRCW's liquidity position remains constrained, due to the $45 million upcoming April 15 maturity. We could lower the ratings if YRCW is unsuccessful in raising new capital to fund upcoming maturities, or if liquidity becomes further constrained.
16:39
SBLK Star Bulk Carriers announces decision not to proceed with offer for warrant exchange (3.20 +0.05)
SBLK announced that the co has determined not to proceed with a previously announced plan to conduct an exchange offer to holders of its 5,916,150 outstanding warrants to purchase shares of common stock, par value $0.01 per share, of the co (the "Existing Warrants"). Each Existing Warrant currently entitles the holder to purchase one share of common stock at an exercise price of $8.00 per share and expires at 5 p.m. New York City time on March 15, 2010.
16:37
OEH Orient-Express to acquire two hotels in Sicily (10.98 +0.00) -Update-
Co announces expansion plans in Italy. The Company has signed a binding agreement to purchase two distinctive properties in Taormina, Sicily from The Framon Group subject to completion conditions. Orient-Express Hotels will acquire both properties for a combined price of EUR81mln ($117 mln) including the assumption of existing financing of EUR44 mln ($64 mln), a new medium term bank loan of EUR6 mln ($9 mln) and vendor financing of EUR5 mln ($7 mln). The Company plans to invest EUR11 mln ($16 mln) in a major refurbishment program, to take place over three consecutive winter closures. The hotels will reopen to Orient-Express Hotels' standard in time for the 2010 summer season.
16:36
ATSI ATS Medical announces preliminary 4Q09 revenue of $18.4-$18.8 mln vs. $20.94 mln consensus; guides FY10 revenue below consensus (3.24 -0.05)
Co sees Q4 revenue of $18.4-$18.8 mln vs. $20.94 mln consensus. Preliminary annual revenue is estimated at approximately $75.4-$75.8 mln, an increase of approximately 15% versus 2008, compared to prior guidance for 2009 of $77-$79 mln. The shortfall from guidance was primarily related to a slowdown in growth of the company's worldwide mechanical valve business and lower than planned growth for the company's surgical ablation business within the United States. Additionally, the company announces it expects to recognize a restructuring charge in Q4 of approximately $1-$1.5 mln related to its international organization. The company also expects to generate an operating loss and net loss for Q4 quarter and full year of 2009 both on an as reported and as adjusted basis. This compares to previous guidance of positive operating profit for the quarter and year and near breakeven to slightly positive net income for the quarter. The company also announces that its preliminary revenue growth expectation for 2010 is in the range of 8-10%. At the mid-point of its FY09 guidance, this equates to approx $81.65-$83.2 mln vs. $90.52 mln consensus.
16:35
OEH Orient-Express announces 10 mln share common stock offering (10.98 unch)
16:34
BAGL Einstein Noah reports preliminary Q4 revs slight above consensus (9.80 )
Co reports prelim Q4 revs of $103.7 mln vs $103.2 mln First Call consensus; sees Q4 EPS of $0.22-0.23 vs $0.23 consensus. Co said system-wide comparable store sales showed sequential improvement in the latest quarter. Comparable store sales decreased 1.5%, with a 1.1% decline in transactions, while co-owned comparable store sales decreased 1.8%, including a 1.6% decline in transactions. Based upon these top-line results, as well as the co's expectations for an improvement in gross margins, the co expects Q4 2009 EBITDA of between $12.6-12.9 mln.
16:33
BEN Franklin Resources reports preliminary assets under management of $553.5 billion vs $539.7 billion at November 30, 2009 and $416.2 billion a year ago (110.41 +2.36)
16:31
BAGL reports prelim Q4 revs of $103.7 mln vs $103.2 mln First Call consensus; sees Q4 EPS of $0.22-0.23 vs $0.23 consensus
16:31
F Ford Motor invests $450 million more in electric vehicles (12.11 +0.42) -Update-
Co announces it will invest an additional $450 million in its aggressive electric vehicle plan, paving the way to build a next-generation hybrid and plug-in hybrid vehicle in Michigan beginning in 2012 and creating 1,000 new jobs.
16:28
S&P revises outlook on Venezuela to stable; 'BB-/B' ratings affirmed
Standard & Poor's Ratings Services said today that it revised its outlook on the Bolivarian Republic of Venezuela to stable from negative. Standard & Poor's also said that it affirmed its 'BB-/B' foreign- and local-currency sovereign credit ratings on Venezuela. "We revised the outlook to stable because we believe that the latest government devaluation of the currency, combined with prospects for stable oil revenues, will reduce Venezuela's fiscal pressures," explained Standard & Poor's credit analyst Roberto Sifon Arevalo. Since December 2008, when we assigned a negative outlook to Venezuela, the government has implemented a series of policies to reduce its fiscal deficit and improve its revenue position. These include an increase in the VAT rate to 12% from 9% and a reduction of spending growth, particularly in off-budget expenditure. In addition, on Jan. 8, 2010, the government devalued the official exchange rate of the Bolivar Fuerte (Bfs) against the U.S. dollar to 2.6 from 2.15 for medicines and food and to 4.3 for imports of most other goods. We expect that all of these measures will reduce the general government deficit to about 2% of GDP in 2010 from an estimated 5.2% of GDP in 2009.
16:23
ELX Emulex spikes to multi-month highs of 12.00 following upside guidance, moving toward 52-week high of 12.33 (11.14 -0.05) -Update- -Technical-
See 16:21 comment for guidance details.
16:23
AA Alcoa misses by $0.05, beats on revs (17.45 +0.43)
Reports Q4 (Dec) earnings of $0.01 per share, excluding non-recurring items, $0.05 worse than the First Call consensus of $0.06; revenues fell 4.5% year/year to $5.43 bln vs the $4.82 bln consensus. Co says "This was a tough year for the aluminum industry - a price crash, demand destruction, and credit crunch. Yet, today Alcoa is stronger than when the year started." Procurement spending was reduced by $2 billion in 2009, $500 million above the target for the year. In its alumina segment, increased pricing in Q4 and all-time record production and third party shipments, along with lower costs driven by productivity and lower caustic prices, were partially offset by a weaker US dollar.
16:21
ELX Emulex sees Q2 EPS of $0.16-0.17 vs $0.12 First Call consensus; revs of $107-108 mln vs $90.68 mln First Call consensus (11.14 -0.05)
The co announces preliminary results for Q2. Total net revenues of $107-$108 million vs. $90.7 mln First Call Consensus. Host Server Products (HSP) net revenues increased 28% sequentially, representing approximately 75% of net revenues. Non-GAAP diluted Earnings Per Share of $0.16 â?? $0.17 vs. $0.12 First Call Consensus... President and CEO Jim McCluney commented, "We executed very well to deliver the December quarter results, which were driven by broad customer demand across both our HSP and ESP product lines. I'm particularly pleased with the tangible benefits we are now seeing from our sales and marketing efforts over the past year to gain market share in Fibre Channel board level products, and this momentum has continued into the new year." "With an expanding portfolio of UCNA and embedded product design wins ramping in the first half of the year, combined with an improving IT spending environment, we are exceptionally well positioned to deliver meaningful revenue growth in 2010," concluded McCluney.
16:20
MUR Murphy Oil announced encouraging results from their first well drilled in the Eagle Ford Shale in McMullen County, Texas (59.59 -0.12)
Two appraisal wells drilled in Malaysia encountered less than prognosticated oil pays and were abandoned. In the Gulf of Mexico, the Company announced its participation in the Deep Blue prospect currently being drilled in Green Canyon. A discovery was made at the George Miles #1H well in the Eagle Ford Shale in South Texas. The well was drilled vertically to a depth of 13,320 feet then completed in a 3,190 ft. horizontal section with a 13 stage fracture stimulation. The well flowed at an initial rate of approximately 7.5 million cubic feet of natural gas per day. President and Chief Executive Officer, David M. Wood, commented, "We are very pleased by the results of our first well in this promising Eagle Ford Shale play and by the quality of the acreage we have accumulated. We are currently drilling our second well in Karnes County to evaluate another tranche of our leasehold, and expect to stay very active in this play throughout the year." The Siakap #2 and Jangas #2 exploration wells drilled in the fourth quarter in Block K off the coast of Sabah, Malaysia found less than hoped for oil pays up dip from the original discoveries and have been plugged and abandoned. After-tax dry hole costs for Siakap #2 totaled approximately $18.2 million, all of which will be recorded in 2009. After-tax costs for Jangas #2 are estimated at $32.7 million, with $22.7 million recorded in 2009 and $10 million in 2010. Murphy owns an 80% working interest in Block K and serves as operator. PETRONAS Carigali holds the remaining 20%.
16:19
MIM MI Developments announces settlement in connection with Magna Entertainment Chapter 11 proceeding (14.10 +0.45) -Update-
Co announced that it, its subsidiary MID Islandi and Magna Entertainment have agreed in principle to the terms of a settlement and release with the Official Committee of Unsecured Creditors in connection with an action commenced by the Committee with respect to the bankruptcy proceedings of MEC under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court. MID announced the commencement of the Action on July 22, 2009. Under the terms of the settlement agreement, in exchange for the dismissal of the Action with prejudice and a full release of MID, the MID Lender, their affiliates, and all current and former officers and directors of MID and MEC and their respective affiliates, the unsecured creditors of MEC will receive US$75 million in cash plus US$1.5 million as a reimbursement for certain expenses in connection with the Action. (currently halted)
16:16
LGCY Legacy Reserves announces a 4.25 mln share common unit offering (21.50 +0.68)
16:16
BLDP Ballard Power announces sale of fuel cell power modules to Advanced Public Transportation Systems bv in Europe (2.20 -0.12)
Co announces that it has received a sales order for five FCvelocity-HD6 power modules from Advanced Public Transportation Systems bv, a specialty bus OEM in The Netherlands, part of the VDL Group. The 150-kilowatt power modules will be installed and integrated by Vossloh-Kiepe with hybrid electric drive systems in 18-meter articulated Phileas buses manufactured by APTS. All the power modules will be shipped to APTS by the second quarter of 2010 and the first APTS Phileas bus incorporating a Ballard power module will be produced this year. Two Phileas buses powered by Ballard fuel cell modules will be operating in Cologne, Germany and two will be operating in Amsterdam.
16:15
KNOT The Knot renews strategic registry partnership with Macy's (9.74 -0.09)
The co announces it has signed a new registry agreement with leading bridal registry retailer, Macy's. The new agreement terminates the previous agreement that had been scheduled to expire in January 2011. The new, three-year deal is expected to begin in February 2010, at which time the Company will cease to host and manage registry websites for Macy's and Bloomingdale's. Macy's and Bloomingdale's will become link-out affiliates similar to the Company's other registry retailer partners.
16:13
KFN KKR Financial announces a $125 mln convertible sr notes offering (6.68 -0.07)
16:12
SGY Stone Energy to offer $250 million aggregate principal amount of Senior Notes due 2017 (19.05 -0.35) -Update-
16:11
TLP Transmontaigne Partners announces offering of 1,750,000 common units (28.00 +0.02)
16:11
PVH Phillips-Van Heusen raises Q4 EPS guidance above consensus (43.44 -0.15)
Co raises Q4 EPS above consensus; co sees Q4 EPS of $0.52-0.54 vs. $0.44 consensus, up from $0.38-0.42; co sees Q4 revs of $603-608 mln vs. $595.1 mln consensus. Co said, "The co's updated guidance reflects its strong performance throughout Q4, including during the holiday season. Business in the co's outlet retail divisions is significantly exceeding prior expectations, with estimated Q4 2009 comparable store sales of positive 8% versus the prior projection of positive 2-3%. Additionally, the global growth momentum of the Calvin Klein brand continued, with royalty revenue currently projected to increase at least 10% for the fourth quarter as compared to the prior year period. Cash flow for the full year 2009 is currently estimated to be $100-110 mln, as compared to the ompany's previous guidance of $80-85 mln."
16:09
BWS Brown Shoe says that for the nine weeks ended Jan 2, 2010, same-store sales at its Famous Footwear division increased 7.% and same-store sales at its Specialty Retail division increased 4.9% (10.30 -0.08)
16:07
PVH raises Q4 EPS to $0.52-0.54 vs. $0.44 consensus, up from $0.38-0.42
16:06
SCVL Shoe Carnival sees Q4 revs of $168-169 mln vs $169.36 mln First Call consensus; with comps up 7-8% vs up 3-5% previously (20.97 +0.40)
Co sees Q4 (Jan) revs of $168-169 mln vs. $169.36 mln First Call consensus; co now sees Q4 comps up 7-8% vs up 3-5% previously. "We are pleased that our value proposition for name brand footwear continues to resonate well with the consumer. This is resulting in sales above our original expectations for the fourth quarter. Our merchandise assortment is allowing us to capitalize on key fashion trends in women's boots, athletic and toning categories. We continue to execute our strategy to gain long-term market share, improve profitability and generate free cash flow."
16:06
ERTS Electronic Arts lowers guidance (18.27 -0.13)
Co announces it expects GAAP and non-GAAP net revenue and earnings per share for the fiscal year ending March 31, 2010 to be below the financial guidance previously provided on November 9, 2009. Revised fiscal year 2010 expectations are primarily the result of weakness for EA and the overall packaged goods sector in Europe in December, and a product mix shift to lower margin distribution products in the December quarter, primarily in North America. Co sees Q3 (Dec) EPS of $0.29-0.33 vs. $0.56 First Call consensus; sees Q3 (Dec) revs of $1.33-1.35 bln vs. $1.42 bln consensus. The co also sees FY10 net revenue of $4.125 bln to $4.2 bln vs $4.25 bln consensus, down from prior guidance of $4.2 bln to $4.4 bln. Co sees non-GAAP EPS in the range of $0.40 to $0.55 vs $0.79 consensus, down from prior guidance of $0.70 to $1.00.
16:05
AVA Avista files request to eliminate energy cost surcharge; approval will reduce electricity prices for Washington customers by 7% (21.25 +0.02)
Co announces that electricity prices for Avista's 232,000 Washington customers will decrease by an overall 7% beginning Feb. 12, 2010, if the Washington Utility and Transportation Commission approves Avista's request to eliminate an existing energy cost surcharge. The Energy Recovery Mechanism surcharge is designed to recover, or rebate to customers, extraordinary changes in certain power supply costs that are above or below the amount included in base customer rates. The elimination of the ERM surcharge has no impact on company earnings. If approved, a residential customer using an average of 1,000 kilowatt-hours per month will see a $5.35 decrease in their monthly bill, from $77.14 to $71.79, which is about a 7 percent reduction. Commercial customers will also see an average 7 percent decrease.
16:05
PVH raises Q4 EPS guidance
16:05
WDFC WD-40 Company beats by $0.05, misses on revs; reaffirms FY10 EPS guidance, revs guidance; authorizes buyback program up to $15 mln (32.50 +0.62)
Reports Q1 (Nov) earnings of $0.56 per share, $0.05 better than the First Call consensus of $0.51; revenues fell 7.1% year/year to $77.7 mln vs the $81.3 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.80-1.95 vs. $1.92 consensus; sees FY10 revs of $298-318 mln vs. $305.42 mln consensus. Gross margin was 51.4% in the first quarter compared to 46.3% in the same quarter last year. Total sales by segment for the quarter were 56% from the Americas, 35% from Europe and 9% from Asia/Pacific. the board of directors authorized an open-ended buy back of co shares up to $15 million over the next 12 months. "Staying focused has helped us get our gross margin back where we like it through a combination of product development initiatives such as the Smart Straw conversion, supply chain enhancements, including new manufacturing partners, and the benefits of the price increases we implemented last year to compensate for our increased cost of goods."
16:04
SGY Stone Energy announces 2010 capital expenditures budget and provides operational update (19.05 -0.35)
Co announces that for 2010 the Board of Directors has authorized a capital expenditure budget of $400 mln. This figure compares with a $300 mln capital budget for 2009 and excludes material acquisitions and capitalized SG&A and interest. Approximately 25% of the capital expenditure budget is expected to be spent on Appalachian drilling and acreage acquisition; approximately 25% is planned for Gulf of Mexico shelf exploitation and approximately 15% is for GOM workover/recompletion projects; approximately 15% is scheduled for GOM deep water and deep shelf expenditures; and the remaining budget is for facilities, abandonment projects, and miscellaneous exploration projects. Co also announces that in the third and fourth quarters of 2009, Stone drilled six operated vertical wells in the Marcellus Shale Play; four in West Virginia and two in Pennsylvania. Four of these wells were completed and established the viability of the play on Stone's acreage. Each of the four wells tested at an initial rate between 0.5 and 2.0 million cubic feet of gas per day. The other two wells will be completed when weather conditions allow.
16:03
AEC Associated Estates announces a 4.5 mln share common stock offering (11.93 +0.00)
16:03
SPEC Spectrum Control reports Q4 EPS of $0.17 vs $0.17 two analyst est, revs rose 1% YoY to $34.1 mln vs $33.02 two analyst est (9.43 +0.01)
"With our acquisition of Micro Networks, and our current assessment of business conditions and customer demand, we presently anticipate our 2010 first quarter sales to be $38.0 to $39.0 mln (vs $34.15 mln two analyst est). Based on this shipment level, and as we integrate the Micro Networks business, we expect our 2010 first quarter earnings to be 19 to 20 cents per diluted share (two analyst est is $0.18). If this operating performance is achieved, it would represent an increase of 15% to 18% in sales and 12% to 18% in earnings per diluted share from the comparable period of a year ago. Beyond the first quarter, we remain very optimistic about fiscal year 2010 and expect to build upon our first quarter performance."
16:02
HTCH Hutchinson sees Q1 revs of $108.3 mln vs $104.99 mln First Call consensus; says net income expected to be modestly above breakeven (10.12 -0.15)
The co reports Q1 prelim results. Net sales for the quarter totaled $108.3 million, compared with $103.2 million in the preceding quarter and $119.7 million in its fiscal 2009 first quarter. Gross profit increased sequentially to approximately $20 million, or 19% of net sales, due primarily to the increase in net sales. In the preceding quarter, gross profit totaled $17.5 million, or 17% of net sales. Net income for the fiscal 2010 first quarter is expected to be modestly above breakeven... The company shipped approximately 155 million suspension assemblies in the fiscal 2010 first quarter, up 7% from 145 million in the preceding quarter and about flat with the fiscal 2009 first quarter. Average selling price in the fiscal 2010 first quarter was 68 cents, compared with 70 cents in the preceding quarter and 76 cents in the fiscal 2009 first quarter. The decline in fiscal 2010 first quarter average selling price was a result of a competitive pricing environment and the mix of products shipped. The company's shipments of TSA+ suspension assemblies increased approximately 36% from 18 million in the preceding quarter to 25 million in the fiscal 2010 first quarter... The company said that it currently expects a sequential decline in suspension assembly shipments and net sales during its fiscal 2010 second quarter, which is typically a seasonally weaker quarter, but is prepared for demand fluctuations in either direction.
16:01
HT Hersha Hospitality Trust announces public offering of 35,000,000 common shares (3.69 +0.17)
16:01
CRM Salesforce.com announces a $500 mln convertible sr notes offering (73.65 -0.50)
16:01
CRL Charles River to suspend operations of Preclinical Services Massachusetts to balance global capacity with demand; reaffirmes 2009 sales guidance (34.73 +0.34)
Co announced that it has decided to suspend operations at its Preclinical Services (PCS) facility in Shrewsbury, Massachusetts, by the middle of 2010, when ongoing in-life studies will have been completed. Co intends to resume operations when global preclinical market conditions improve and co requires additional capacity. Suspension of operations at the facility is expected to reduce operating costs by ~$20 mln in 2010, with an annualized run-rate of ~$25 mln. As a result of this decision, co expects to record charges of ~$7 mln, primarily in Q1 of 2010, for severance and related costs. Both the charges and any losses associated with the PCS Massachusetts action will be excluded from non-GAAP results. Co has not completed its impairment analysis for the facility at this time. Co anticipates that suspension of operations will likely result in some loss of revenue in 2010, but expects to retain the majority of the business and provide the services at other PCS sites... Co is reaffirming the 2009 sales guidance, and expects non-GAAP earnings per share to be above the range, which was previously provided. Co previously said it sees FY09 EPS of $2.28-2.32, ex items, vs $2.31 First Call consensus; sees revs down 7-9% (calc to $1.20-1.21 bln vs $1.20 bln First Call consensus).
16:01
AA Alcoa trading halted - news pending (17.45 +0.43) -Update-
Note, AA is scheduled to come out with earnings after the close today.
16:00
IVZ Invesco announces December 31, 2009 Assets Under Management of $423.1 bln vs. $418.8 bln a month ago (23.67 +0.75)
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