Briefing.com: Hourly In Play (R) – 14:00 ET

Sep 02, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 02-Sep-10 14:00 ET

13:40

COMDX COMEX Metals Closing Prices

Dec gold finished higher by $4.70 to $1252.80, Dec silver gained 25.7 cents to close at $19.65, and Dec copper ended up 1.8 cents to $3.4955.

13:31

BDSI BioDelivery Services announced meeting with FDA on a streamlined ONSOLIS REMS; "recently submitted proposed REMS modifications should facilitate the ability to prescribe ONSOLIS" (2.42 +0.07)

Co announced a meeting with the FDA, Meda and BDSI that occurred on Wednesday, July 21, 2010 to discuss significant modifications to the existing Risk Evaluation and Mitigation Strategy (REMS) program for ONSOLIS. BDSI believes that the recently submitted proposed REMS modifications, which are under FDA review, should facilitate the ability of healthcare providers to prescribe ONSOLIS for appropriate patients as well as improve patient access through broadened distribution. BDSI deferred a public announcement of this meeting pending its receipt and review of the official minutes from the FDA meeting, which takes approximately 30 days to receive from FDA.

13:15

TVL Lin TV: ACME confirms LIN Media exercised its option to buy Dayton and Green Bay stations for $11.5 mln (4.38 +0.18)

ACME Communications (Pink Sheets:ACME) announced that LIN Television exercised its option to purchase certain assets used and useful in ACME's television stations WIWB serving the Green Bay-Appleton market and WBDT serving the Dayton market. The combined purchase price for the two stations is $11.5 mln. LIN has the right to fund up to 50% of its portion of the combined purchase price via issuance of unregistered shares of its common stock.

13:09

VZ Verizon raises quarterly dividend 2.6% to $0.4875/share (30.04 -0.23)

13:03

TECHX Sector Watch -Update- -Technical-

Seeing come minor relative sector weakness in recent action in Finance XLF / RKH / KRE, Semi SMH, Housing XHB, Retail XRT, Airline FAA, REITs IYR, Networking.

13:01

PSTR PostRock Energy resumes trading (3.80 +0.81) -Update-

13:00

ME Mariner Energy confirms a fire at a production platform on Vermilion Block 380 in the Gulf of Mexico; all crew members safely accounted for (22.68 -0.67) -Update-

Mariner Energy (ME) confirms that a fire has occurred at a production platform located on Vermilion Block 380,~100 miles from the Louisiana coast. All 13 members of the crew have been evacuated and safely accounted for. No injuries have been reported. In an initial flyover, no hydrocarbon spill was reported. The cause is not known. During the last week of August 2010, production from this facility averaged approximately 9.2 mln cubic feet of natural gas per day and 1,400 barrels of oil and condensate.

12:57

PSTR PostRock Energy announced earlier that White Deer Energy agreed to invest $60 mln of equity in co... resumption time 13:00 (3.36 +0.37)

12:56

SPY S&P 500 +3.3 pauses near 50 ema/congestion -Update- -Technical-

Noted resistance in The Technical Take at 1086, which marks its 50 ema, with a minor barrier at 1088 (late July/Aug 11 lows) and we saw a pause near this area in the wake of the Energy weakness. Sideways action has persisted over the last two hours. Technically the index is extended in the wake of the 4.5% surge off Tuesday's low and it while there is no confirmation, it is potentially at/near the end of a fifth wave off Tuesday's low. A failure to take out the high (1087) and a subsequent sustained breach of short term averages and yesterday's range top (1082/1080) would be very short term weaker signal (Click for chart).

12:40

XHB Global, sector, & commodity ETF money flows- Homebuilders & Home Construction (ITB, XHB) lead all sectors here @ midday; CBOE VIX volatility (VXX, VXZ) remains weak as the indexes hold two-day bid -Technical-

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

homebuilders & home construction- XHB +2.75%, ITB +2.0%, sugar- SGG +2.50%, semis- XSD +2.25%, IGW +1.75%, SMH +1.50%, solar power- TAN +2.0%, coffee- JO +2.0%, cotton- BAL +2.0%, US retailers- XRT +1.75%, RTH +1.50%, gold/silver miners- GDX +1.50%, GDXJ +1.25%, base metals- DBB +1.50%, global timber & forestry- CUT +1.50%, SPDRS cons. discretionary- XLY +1.25%

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

VIX vol index- VXX -2.25%, VXZ -0.75%, Indonesia- IDX -1.50%, US Treasuries & fixed income- TLT -1.50%, TLH -0.50%, iShares Japan- EWJ -1.0%, Thailand- THD -0.75%, iShares Singapore- EWS -0.50%, SPDRS utilities- XLU -0.50%, iShares Taiwan- EWT -0.50%

12:39

NFLX Netflix edges above its 52-wk close high from Aug at 137.22 (137.32 +2.41) -Update- -Technical-

It Aug/52-wk intraday peak does not come into play until 140.90.

12:30

FLEX NASDAQ 100 (NDX) strength & weakness- Semis (FLEX, BRCM, MRVL) post percentage gainers leadership here @ midday -Technical-

NDX 10 Best % Performers:

FLEX, FWLT, BRCM, SNDK, FSLR, EXPE, URBN, SBUX, NTAP, MRVL

NDX 10 Worst % Performers:

GRMN, ESRX, VMED, BIIB, HSIC, SRCL, ORCL, AMGN, SIAL, SYMC

NASDAQ A/D @ 1:1

NASDAQ TRIN +0.30

12:27

HD Dow 30 (INDU) strength & weakness- Home Supply (HD) still leading all percentage gainers here @ midday; Select Financials (AXP, TRV) remain weak -Technical-

INDU 5 Best % Performers:

HD, AA, CSCO, BA, BAC

INDU 5 Worst % Performers:

AXP, KFT, VZ, MRK, TRV

NYSE A/D @ +1.5:1

NYSE TRIN +0.55

12:00

BYI Bally Technologies hovering near session high and 50 ema at 33.76/33.84 (33.64 +1.00) -Technical-

Solid performance in the sector with BYI +3% a top percentage gainer: WYNN +2.1% (testing its 20/50 ema), WMS +2.1%, MCRI +2% (just under its 50 ema), PENN +1.8% (new 4 month high), IGT +1.6%, MGM +1.4%, SHFL +0.8%, PNK +0.5% (testing its 50 ema).

11:56

DSCI Derma Sciences' XTRASORB HCS Dressings receive Federal reimbursement codes; join foam and classic dressings for complete coverage of product category (5.25 +0.83)

Co announces that all five products in its novel line of XTRASORB HCS Dressings have received Healthcare Common Procedural Coding System codes. These codes allow healthcare providers to bill for the dressings beginning immediately. "With reimbursement in place and product now in our distribution center, we are confident that demand for the new XTRASORB line extensions will be robust."

11:50

ARG Airgas signs a 5-yr, Strategic Agreement with BAE Systems; co to supply BAE with industrial gases, welding hardgoods, and PPE safety products (66.17 -0.03)

11:49

OIH Oil Service HOLDRS Trust pushes 1% off morning low (102.31 -0.04) -Update- -Technical-

ME -1% is roughly 13.5% off its low.

11:46

RVSN RADVision confirms all conditions satisfied for its previously announced self tender offer to purchase 5.0% of its voting power for $7.30 per share (6.82 -0.03)

11:42

SMH Semiconductor Hldrs ETF displays intraday relative strength, notches new session high (25.42 +0.41) -Technical-

TER +4.3%, BRCM +4%, INTC +0.9%, ADI +2%, AMKR +2.3%, NSM +1.4%, NVLS +2.4%, KLAC +2.1%, TXN +1.1%, XLNX +2.3%.

11:28

NE Noble Corp and other Drillers slump further after ME explosion (32.58 -0.74) -Technical-

NBR -2.3%, ATW -2%, DO -1.8%, BHI -1.5%, RIG -0.4%.

11:16

XLE Relative weakness in Energy XLE / OIH in recent action -Technical-

11:14

DIA Dow +2.5 thus far not able to confirm new session high in S&P +4.8 and Nasdaq Comp +13, minor slip noted in recent trade -Technical-

Dow laggards include: AXP -1.7%, KFT -1.4%, TRV -1.1%, VZ -0.8%, MRK -0.6%, KO -0.5%.

11:02

HON Honeywell notches new session high of 41.91 near its 200 sma at 41.92 (41.84 +0.96) -Technical-

Part of the Machinery group that has provided upside leadership today (JOYG +2.7%, CNH +2.6%, BUCY +2.3%, MTW +1.9%, DE +1.4%, NAV +1.3%, CBE +1.2%).

11:01

PX Praxair: Brazilian Admin Concil for Economic Defense imposed a civil fine of $1.3 bln on 9/1/2010; co rejects allegations (86.27 -0.38)

Co announces on September 1, CADE (Brazilian Administrative Council for Economic Defense) announced alleged anticompetitive activity on the part of five industrial gas companies in Brazil and imposed fines. CADE imposed a civil fine of 2.2 billion reais ($1.3 bln) on White Martins, the Brazil-based subsidiary of co. Co rejects all claims, including the allegation that White Martins is a repeat offender. Co says that it has "strong defenses in both cases and are confident that we will prevail on appeal and have the fine overturned."

10:40

XHB Global, sector, & commodity ETF money flows- Homebuilders & Home Construction lead all domestic sectors in 1st hour trade; CBOE VIX volatility lags as indexes see follow through gains -Technical-

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

homebuilders & home construction- XHB +2.0%, ITB +1.50%, coffee- JO +2.0%, cotton- BAL +1.75%, US retailers- RTH +1.25%, XRT +1.75%, semis- XSD +1.50%, IGW +1.0%, SPDRS cons. discretionary- XLY +1.50%, global timber & forestry- CUT +1.25%, solar power- TAN +1.50%, gold/silver mining- GDX +1.50%, GDXJ +1.0%

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

VIX vol index- VXX -1.50%, VXZ -0.50%, Indonesia- IDX -1.75%, US Treasuries & fixed income- TLT -1.25%, TLH -0.50%, iShares Japan- EWJ -1.0%, Vietnam- VNM -1.0%, iShares Singapore- EWS -0.75%, Thailand- THD -0.75%, SPDRS utilities- XLU -0.75%, crude/WTI oil- USO -0.75%, OIL -0.50%

10:30

IWM Small-Cap Russell 2000 and Mid-Cap S&P 400 both now positive territory for year, testing 50/200 day -Technical-

The Russell 2000 cash index reached positive territory for the year this morning and is vacillating near its 50 sma/ema at 627/629 (session high 628.53). The S&P 400 cash index has outperform the other indices (Dow, S&P, Nasdaq still in red for year) and it is holding a 2010 gain of roughly 3%. The recent fresh session high (751) leaves it just under its 200 sma at 752.

10:30

UNG Natural gas drops to fresh lows following inventory data; now lower by 4.3 cents to $3.719

10:30

EXPE NASDAQ 100 (NDX) strength & weakness- Retailers (URBN, SHLD, ROST, BBBY) lead the percentage gainers leaderboard through the 1st hour of trade -Technical-

NDX 10 Best % Performers:

EXPE, URBN, FWLT, BRCM, BBBY, SBUX, FAST, SHLD, JOYG, ROST

NDX 10 Worst % Performers:

VMED, STX, GRMN, DISH, BIIB, NIHD, EBAY, VRTX, AAPL, RIMM

NASDAQ A/D +1.5:1

NASDAQ TRIN +0.35

10:28

HD Dow 30 (INDU) strength & weakness- Home Supply (HD) leads all percentage gainers through the 1st hour of trade; Select Financials (AXP, TRV) display some relative weakness -Technical-

INDU 5 Best % Performers:

HD, AA, CSCO, DIS, BA

INDU 5 Worst % Performers:

AXP, KFT, TRV, VZ, MRK

NYSE A/D +2:1

NYSE TRIN +0.55

10:24

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: PCLN (+4.24), BKC (+4.54), SCMR (+4.22), CME (+3.99), CMG (+3.09), JWN (+2.24), FSLR (+2.22), DIN (+1.94), AZO (+1.90), MELI (+1.70)

Point Losers: PKX (-2.25), ANF (-1.64), MATK (-1.52), DB (-1.48), AAPL (-1.12), ROVI (-1.19), TM (-1.03)

10:01

SPY Stock indices extend to the upside after stronger home data -- Dow +36, S&P +5.9, Nasdaq +12 -Update- -Technical-

09:58

SPY Stock indices edge to minor new session highs -- Dow +16, S&P +4.1, Nasdaq +7.5 -Update- -Technical-

The S&P 500 is probing the 50% retracement of the Aug decline and its 50 ema at 1084/1086.

09:57

XRT SPDR Retail providing upside leadership, sets new session high of 37.96 (37.96 +0.60) -Technical-

Its Mid-Aug reaction high and 200 sma (which capped the upside at that time) come into play above at 38.15/38.23 -- HD +1.3%, JCP +2.6%, JCG +2.3%, COST +1.5%, ROST +1.8%, GPS +1.7%, SHLD +1.9%, LOW +1.7%, EXPE +2.8%, DKS +2% (nearing 200 sma), RSH +1.5%, KMX +2%.

09:51

QCOM Qualcomm pops to new session high of 39.93 hovering modestly under its 200 sma and yesterday's high at 40.05/40.15 (39.94 +0.34) -Technical-

Noted the test of last week's peak at 39.45 yesterday with the rally extended near its 200 sma. This morning it is firmer and hovering back near the average and Wed high.

09:49

HD Home Depot displays relative strength as it sets a new four week high of 29.08 (29.05 +0.38) -Technical-

The top of its relatively tight two month trading range comes into play at 29.24/29.37.

09:36

ECONX Chairman Ben Bernanke testifies before the Financial Crisis Inquiry Commission

Summary of Chairman Ben Bernanke's testimony before the Financial Crisis Inquiry Commission: Among a number of triggers that precipitated the financial crisis, the most prominent one was the prospect of losses on residential mortgage loans to subprime borrowers. Another, less well-known trigger was a "sudden stop" in June 2007 in syndicated lending to large, relatively risky corporate borrowers....Many key vulnerabilities were products of private-sector arrangements, including: 1) dependence on unstable short-term funding, 2) deficiencies in risk management, 3) excessive leverage, and 4) uncertainties associates with the use of derivatives...The public sector also had important vulnerabilities, which exacerbated the crisis both in the United States and in other countries. These vulnerabilities included both gaps in the statutory framework and flaws in the performance of regulators and supervisors...In the midst of the crisis, providing support to a too-big-to-fail firm usually represents the best of bad alternatives; without such support there could be substantial damage to the economy. However, the existence of too-big-to-fail firms creates several problems in the long run....It is difficult to determine if low level of short-term interest rates causes booms and busts in asset prices. It was not a practical policy option for the Fed to stop the bubble at an earlier stage by more-aggressive interest rate increases. The evidence is more consistent with a view that the run-up in house prices primarily represented a feedback loop between optimism regarding house prices and developments in the mortgage market. The high rate of foreign investment in the United States also likely played a role in the housing boom. Click here for full testimony

09:34

SPY Limited push above Wed highs for stock indices in early action -- Dow +2, S&P +1., Nasdaq +0.4 -Technical-

09:32

TECHX Opening strength in Silver SLV +1.1%, Gold Miners GDX +1.1% and Gold GLD +0.5% -Update- -Technical-

09:29

VNO Vornado Rlty Trust announces cash tender offers for senior debentures (84.30 )

Co announces cash tender offers for any and all of its 3.625% convertible senior debentures due 2026 and its 2.85% convertible senior debentures due 2027.

09:22

BKC Burger King confirms $24/share offer from 3G; transaction valued at $4 bln (18.85 ) -Update-

Co and 3G Capital confirmed that they have entered into a definitive agreement under which affiliates of 3G Capital will acquire the stock of BKC for $24.00 per share, or $4.0 billion, including the assumption of BKC's outstanding debt. The transaction is expected to close in the fourth quarter of this calendar year. Under the terms of the agreement, BKC may solicit superior proposals from third parties for a period of 40 calendar days continuing through October 12, 2010.

09:20

CERS Cerus and the Swiss Red Cross report successful outcome of INTERCEPT blood system platelet study (3.00 )

Co announces the successful outcome of a multi-year trial of INTERCEPT-treated platelet components conducted at the Swiss Red Cross Blood Center. "This study demonstrated that INTERCEPT platelets provide adequate prophylactic support for hematology-oncology patients."

09:16

CEL Cellcom Israel announces regulator's decision to reduce interconnect tariff (27.50 )

Co announces regulator's decision to reduce interconnect tariff. Absent any efforts to mitigate the expected loss of revenues, these changes are expected to have an annual direct adverse effect (based on the co's current calls and SMS data) of ~NIS 420 mln on the co's EBITDA and ~NIS 320 mln on the co's net income, for the first reduction. The co cannot predict the actual indirect adverse effects the reduction would have on the Company's results.

09:15

PAR 3Par determines revised HP proposal, for $33/share, is superior (32.04 ) -Update-

Co confirmed it received a revised proposal from Hewlett-Packard (HPQ) to acquire all of PAR's outstanding common stock at $33 per share, which is an increase from its previously announced offer price of $30 per share. Although 3PAR previously notified Dell of its intention to terminate its merger agreement with Dell, the merger agreement was not terminated and remains in full force and effect. Following 3PAR's notice of intent to terminate the merger agreement, and prior to receiving HP's revised acquisition proposal, 3PAR received a revised acquisition proposal from Dell in which Dell increased its offer price from $27 per share to $32 per share. Dell's revised acquisition proposal also included an increased termination fee of $92 million payable by 3PAR to Dell as a condition to accepting a "superior proposal," and a multi-year reseller agreement with Dell, which would by its terms be assumed by an acquirer of, or successor in interest to, 3PAR in the event of a change in control of 3PAR (including the acquisition of 3PAR by HP or another third party), and which contained fixed pricing and other terms that the 3PAR board of directors determined to be unacceptable.

09:14

COMDX Silver futures spike to highest levels of the morning at $19.645, its best level since May 14; currently up 22.7 cents to $19.62

Dec gold futures following suit, putting in fresh highs at $1254.30; currently higher by $5.20 to $1253.30

09:03

On the Wires

LaSalle Hotel Properties (LHO) buys Philadelphia hotels, the 294-room Westin Philadelphia and the 288-room Embassy Suites Philadelphia-Center City from HEI Hotels & Resorts for an undisclosed amount. Under terms of the deal, brokered by Hodges Ward Elliott, HEI will continue to operate the hotels on behalf of its new owners...Entertainment Gaming Asia (EGT) announces that as of August 31, 2010 it had reached 670 gaming machine seats in operation at NagaWorld casino resort.

09:03

CCME China MediaExpress provides clarification to 144 filing; was determined that this shareholder had mistakenly overstated the amount subject to sale (8.85 )

China MediaExpress Holdings (CCME) announces that it was made aware of a Form 144 filing by Mr. Ou Wen LIN, one of its founding shareholders, disclosing a significant stock selling plan. When CME sought to clarify the shareholder's intentions, it was determined that this shareholder had mistakenly overstated the amount subject to sale. Co understands that Mr. Ou Wen LIN has filed an amendment with the SEC, on Form 144/A. This amended Form 144/A stated that the total number of shares intended to be sold is 63,594, which is the number of shares that Mr. Ou Wen LIN sold on 8/18/2010 and 8/19/2010. It is also CME's understanding that Ou Wen LIN does not intend to sell a material part of his 18% stake in CME for the foreseeable future.

08:56

On the Wires

Sutor Technology Group (SUTR) announced that its wholly owned subsidiary Changshu Huaye Steel Strip Company Limited has signed a strategic cooperation agreement with China Construction Bank. Under the agreement, China Construction Bank will provide Sutor with financial total solutions services covering various services, including bank loans, lines of credit, consultation for mergers & acquisitions, asset management and restructuring...Daxor Corporation (DXR) issues update on use of blood volume analyzer in heart failure. Co is to determine whether incorporation of blood volume results into the diagnosis and treatment of heart failure patients leads to decreased hospitalization and mortality. If it can be demonstrated in a large-scale study that blood volume analysis leads to better outcomes, the BVA-100 may become a standard of care in heart failure. Patient enrollment into this study is expected to begin in Q4.

08:34

DUCK Duckwall-ALCO Stores reports that Aug same store sales decreased -0.8% (13.07 )

08:33

IRC Inland Real Estate announces joint venture acquisitions of Farnam Tech Center and Copps Food Center for ~$30 mln (7.75 )

Co announces the acquisitions through its joint venture with Inland Real Estate Exchange Corporation of the Farnam Tech Center in Omaha, Nebraska and a free-standing Copps Food Center store in Sun Prairie, Wisconsin. Co purchased for ~$18.0 mln the 118,000-square-foot Farnam Tech Center. The property was purchased on 7/28/2010. Additionally, on 8/26/2010, IRC acquired for ~ $11.7 mln the 61,048-square-foot Copps Food Center located in the Madison, Wisconsin metro area. IRC expects to earn acquisition and property management fees related to the properties in accordance with the terms of its joint venture agreement with IREX.

08:32

SKS Saks reports Aug same store sales +1.0% vs +4.0% Briefing.com consensus; reaffirms 2H comps guidance (7.42 )

As expected, August comparable store sales were negatively impacted due to reduced levels of clearance inventory. Co continues to expect comparable store sales growth in the mid-single digit range for the second half of the fiscal year in the aggregate.

08:32

DNR Denbury Resources and Encore Energy Partners (ENP) have terminated the previously announced consideration of a sale or other asset transaction between Denbury and ENP regarding Elk Basin field (15.10 )

DNR, as the owner of Encore Energy Partners, the general partner of Encore Energy Partners (ENP), together with ENP, announced that Denbury and ENP have terminated the previously announced consideration of a sale or other asset transaction between Denbury and ENP regarding Elk Basin field. This process had been initiated in light of the substantial future capital requirements to flood that field as a possible CO2 tertiary project. No agreement could be reached on the value of the potential tertiary reserves.

08:32

UTA Universal Travel appoints new independent auditor (4.99 )

Co appoints new independent auditor. The co's decision to change auditors was not due to any disagreement between the co and its former auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

08:30

AOL AOL and Google renew and expand global partnership; announce five-year renewal and expansion (22.89 )

AOL and GOOG announce 5 year renewal and expansion of partnership. The partnership includes a broad range of features that will improve and expand the products and services offered to consumers including search products, ad products, mobile search and YouTube.

08:13

On the Wires

Skilled Healthcare Group (SKH) announces that further court proceedings in the case JACQUELYN VILCHINSKY vs. SKILLED HEALTHCARE GROUP et al (and 22 individually-named California nursing facilities receiving administrative services from Skilled Healthcare have been postponed one additional day and are now scheduled to begin on September 3, 2010. Settlement discussions in the case are ongoing...LDK Solar (LDK), a leading manufacturer of multicrystalline solar wafers and PV products, today announced that it has expanded its vertical manufacturing by successfully completing the installation and trial runs of the first production line of solar cells in its newly installed manufacturing facility in Xinyu City. The new solar cell manufacturing line currently has an annualized capacity of 60 megawatts and is expected to reach 120 MW by the end of the third quarter...Novatel Wireless (NVTL) entered into a Master Purchase Agreement with Comcast (CMCSA). Co will supply its MiFi 2200 Intelligent Mobile Hotspot and Ovation MC760 and support Comcast as continues its rollout of High-Speed 2go...GE Capital (GE), Corporate Finance announced it is administrative agent for a newly amended and extended $320 mln revolving credit facility to H&E Equipment Services. The credit facility will continue to be used for working and growth capital... PerkinElmer (PKI) announced the extension of their OneSource Laboratory Services contract with Minerva Scientific, a specialist pharmaceutical testing laboratory based in Derbyshire, UK...China TechFaith Wireless Technology (CNTF) announces TechFaith will invest $70 mln to establish a wholly owned subsidiary for the development of a 10 mln-unit capacity smartphone production line in Beijing Economic and Technological Development Area. This subsidiary will focus primarily on the production of QIGI's smartphones as well as supporting TechFaith's ODP business. The construction and full ramp-up of the production facility is expected to be completed over the next five years...Cisco (CSCO) announces intent to acquire Arch Rock. No terms were disclosed. Arch Rock will accelerate Cisco's ability to facilitate the utility industry's transition to an open and interoperable smart grid by enabling Cisco to offer a comprehensive and highly secure advanced metering infrastructure solution that is fully IP and open-standards based...Results from studies related to Optimer Pharmaceuticals' (OPTR) lead developmental product candidate, fidaxomicin, will be presented at the Interscience Conference on Antimicrobial Agents and Chemotherapy...Kid Brands, Inc. (KID) integrating certain operational and back-office functions of its Kids Line and CoCaLo brands. Kids Line and CoCaLo will each retain and enhance their separate brand identities and continue to maintain separate design and sales and marketing teams. David Sabin, currently President of Kids Line, will have overall responsibility for the Kids Line and CoCaLo businesses...Broadcom Corporation (BRCM) announced that the Broadcom BCM7400 satellite set-top box system-on-a-chip solution has been chosen by leading digital media equipment company EchoStar Technologies L.L.C., a subsidiary of EchoStar Corporation (SATS), for its SlingLoaded 922 high definition digital video recorder.

08:08

MAIL Incredimail approved 2010 interim cash dividend of $0.45/share (4.74 )

Co's prior cash dividend in 2009 was $0.43/share and was in addition to interim dividend of $0.40/share.

08:07

UTIW UTI Worldwide beats by $0.02, beats on revs (14.34 )

Reports Q2 (Jul) earnings of $0.19 per share, $0.02 better than the Thomson Reuters consensus of $0.17; revenues rose 37.0% year/year to $1.15 bln vs the $1.08 bln consensus. Net revenues increased 12 percent, less than the revenue increase, principally because of yield pressure. On an organic, constant currency basis, adjusted net revenues increased 11% compared to the second quarter last year.

08:04

PERF Perfumania Holdings reports Aug comparable store sales decreased by 8.7% (9.10 )

The decrease in comparable store sales was partially offset by an improved gross margin achieved in August 2010.

08:03

ZHNE Zhone Technologies: Shawnee Telephone Company Selects Zhone for $8.5 Million RUS Funded Broadband Stimulus Project (1.23 )

Co announces Shawnee Telephone Company has selected its multi-service access node for support of the Southern Illinois Sustainable Broadband Transformation project. Shawnee was awarded $8.5 million in federal and state funds.

08:02

UMBF UMB Financial Corporation's Scout Investment Advisors to acquire Reams Asset Management; combined AUM expected to be over $18 bln, more than doubling Scout's AUM (33.18 )

08:02

CRME Cardiome Pharma announced that it has earned a $30 mln milestone payment from its collaboration with Merck (6.19 )

Co announced that it has earned a $30 mln milestone payment from its collaboration with Merck (MRK), through an affiliate. The milestone was triggered by the recently announced marketing approval for BRINAVESS in the European Union, Iceland and Norway.

08:02

SLRY Salary.com: Kenexa (KNXA) commences cash tender offer to acquire common stock of Salary.com for $4.07 per share (4.08 )

Co announced that a wholly-owned subsidiary of Kenexa has commenced a tender offer to acquire all of the outstanding shares of common stock of Salary.com (SLRY) for $4.07 per share in cash, without interest and less any required withholding tax.

08:01

BNVI Bionovo (BNVID) receives NIH grant to develop drugs for the treatment of Ffmale-specific obesity and metabolic syndrome (1.38 )

Co announced that the U.S. National Institutes of Health, National Center for Complementary and Alternative Medicine Small Business Technology Transfer Program, has approved and funded a grant to be shared by Bionovo and Dr. Dale Leitman from the University of California at Berkeley. The grant will fund the first phase in a planned multi-phase study to evaluate Bionovo's plant derived tissue selective estrogen receptor modulators for preventing obesity and the metabolic syndrome.

07:59

TRAD TradeStation reported Aug metrics (6.15 )

Co reported the business metrics for the month ended August 31, 2010: 73,847 Daily Average Revenue Trades (DARTs); Total client assets of $2.2 billion (as of August 31, 2010) -- Average equities client credit balances of $919 million; and Average equities client margin balances of $56 million.

07:44

On the Wires

Oncolytics Biotech (ONCY) announces that the Gynecologic Oncology Group intends to conduct a randomized Phase II trial of weekly paclitaxel versus weekly paclitaxel with REOLYSIN in patients with persistent or recurrent, ovarian, fallopian tube or primary peritoneal cancer (GOG186H)...Halozyme Therapeutics (HALO) announces the initiation of two Phase 2 Ultrafast Insulin treatment studies that utilize its rHuPH20 hyaluronidase enzyme (PH20) in combination with the two leading commercially available mealtime analogs: insulin aspart, the active ingredient in NovoLog, and insulin lispro, the active ingredient in Humalog...Acasti Pharma, a subsidiary of Neptune Technologies (NEPT) reported results on the effects of its anti-dyslipidemic investigational drug candidate CaPre on C-reactive protein levels. Study demonstrated that severe dyslipidemic and metabolic syndrome subjects, treated once-daily with either 0.5g or 2.5g CaPre human equivalent dosing per day for 28 days, benefited from the treatment resulting in a reduction of CRP levels by 15% and 24%, respectively.

07:39

OLBK Old Line Bancshares to acquire Maryland Bankcorp for ~$20 mln; expected to be accretive by the end of 2011 (7.95 )

The co and Maryland Bankcorp announced the execution of a definitive merger agreement that provides for the acquisition of Maryland Bankcorp for ~$20 million, or approximately $30.93 per share, in cash and stock. The Merger, anticipated to close in the first quarter of 2011, is expected to be accretive to Old Line Bancshares, Inc.'s earnings by the end of 2011.

07:36

HCC HCC Insurance declared regular cash dividend of $0.145/share, up from $0.135/share (25.83 )

07:31

CME CME Group volume averaged 11.7 mln contracts per day in August 2010, up 15% versus Aug 2009 and up 8% sequentially (256.28 )

Co announces that August volume averaged 11.7 million contracts per day, up 15 percent from August 2009 and up 8% sequentially. Total volume was 258 mln contracts for August, of which 82% was traded electronically.

07:28

S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +1.30.

07:28

Asian Markets

Nikkei...9062.84...+135.80...+1.50%. Hang Seng...20868.92...+245.10...+1.20%.

07:28

European Markets

FTSE...5363.28...-3.10...-0.10%. DAX...6074.36...-9.40...-0.20%.

07:22

DTG Dollar Thrifty: Avis Budget (CAR) increases premium offer to $40.75 from $39.25 for Dollar Thrifty (47.04 )

Avis Budget (CAR) issued the following statement regarding its outstanding offer to acquire Dollar Thrifty Automotive Group. Avis Budget is increasing the cash portion of its offer from $39.25 to $40.75 per share (which would include the proceeds of a pre-closing special dividend to be paid by Dollar Thrifty consistent with our previous proposal). The revised offer of $40.75 in cash and 0.6543 shares of Avis Budget stock, represents a premium of more than 22% over the Hertz Global Holdings (HTZ) offer.

07:13

AN AutoNation August 2010 retail new vehicle unit sales: -17% YoY to 18,669 or +19% excluding co's est impact of Cash for Clunkers on 8/09; avg daily new unit sales +8% MoM (23.21 )

Retail new vehicle unit sales in August 2010 for AutoNation's operating segments were as follows: -10% YoY to 5,451 for Domestic (excluding our estimated impact of Cash for Clunkers, the increase was 39%); -25% YoY to 9,976 for Import (excluding our estimated impact of Cash for Clunkers, the increase was 15%); and 3,242 for Premium Luxury, flat YoY (excluding our estimated impact of Cash for Clunkers, the increase was 6%).

07:05

PTRY Pantry acquires 47 stores; stores generated revenues of ~$194 mln during the 12 months ended May, 2010 (19.60 )

Co announced that it has signed a definitive agreement to acquire 47 convenience stores. The stores operate under the Presto trade name and generated revenues of approximately $194 million during the 12 months ended May, 2010. The acquisition, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the first quarter of fiscal 2011.

07:04

LAYN Layne Christensen beats by $0.05, beats on revs

Reports Q2 (Jul) earnings of $0.33 per share, $0.05 better than the Thomson Reuters consensus of $0.28; revenues rose 16.6% year/year to $253.3 mln vs the $235.7 mln consensus.

07:03

CNIT China Information Technology signs contract valued at $15 mln for the 2011 Summer Universiade in Shenzhen; anticipates contract to be completed and rev recognized within the next 12 months (5.09 )

07:03

SCMR Sycamore beats by $0.14, beats on revs (22.22 )

Reports Q4 (Jul) earnings of $0.05 per share, $0.14 better than the Thomson Reuters consensus of ($0.09); revenues rose 29.1% year/year to $22.2 mln vs the $15 mln consensus.

07:01

PTRY Pantry names Mark Bierley to succeed Frank Paci as Chief Financial Officer (19.60 )

Mr. Bierley joins The Pantry from Borders Group where he has been Chief Operating Officer and Chief Financial Officer since June 2010.

06:45

CSIQ Canadian Solar misses by $0.08, beats on revs; reiterates FY10 shipment guidance (12.20 )

Reports Q2 (Jun) earnings of $0.07 per share, $0.08 worse than the Thomson Reuters consensus of $0.15; revenues rose 187.8% year/year to $328.7 mln vs the $305.7 mln consensus. For 3Q10, co expects shipments of ~190-200 MW, with a gross margin of ~14.5-15.5%. For FY10, co reiterates shipment guidance of ~700-800 MW. Capacity expansion is on track. We expect to complete our third cell building by early 2011, and ramp up our total internal cell production capacity to 1.3 GW, of which 620 MW will be higher conversion efficiency cell capacity. "We expect module pricing to remain relatively stable for the balance of the year. We expect that these factors, as well as our increased internal cell production, to support continued margin improvement through the fourth quarter. "

06:32

ASYS Amtech Systems announces $37 mln in new solar orders (14.27 )

Co announces $37 mln in new solar orders from several new and existing customers in Asia.

06:09

SXCI SXC Health Solutions announces two-for-one stock split (77.70 )

06:08

DEST Destination Maternity reports net sales for the month of August 2010 decreased approx 2.3% (27.01 )

Co reported that preliminary net sales for the month of August 2010 decreased approx 2.3% to approx $42.9 mln from $43.8 mln reported for the month of August 2009. Comparable retail sales fell 3.2%, comparable store sales fell 4.4% and Internet sales rose 20.5% for the month of August 2010. Co says the decrease in total reported sales for August 2010 compared to August 2009 resulted primarily from the unfavorable "days adjustment" calendar timing shift, the decrease in comparable store sales and decreased sales from the Company's licensed relationship, partially offset by increased sales due to the re-launch of the exclusive Two Hearts Maternity collection in Sears and Kmart stores in October 2009, and increased Internet sales. A portion of the decrease in August sales from the licensed relationship reflects a shift in the monthly timing of product shipments compared to last year.

06:04

FDO Family Dollar reports Q4 sales in-line; comps +6.1% (43.28 )

Co reports Q4 sales +8.0% to $1.957 bln vs. the $1.954 bln consensus. Comparable store sales for the quarter increased 6.1%. Sales during the quarter were strongest in the Consumables category. The co had 6,785 stores as of August 28, 2010, including 75 new stores opened in Q4.

03:21

OREX Orexigen Therapeutics and Takeda enter into partnership to commercialize Contrave in North America (4.59 )

Co announces that it and Takeda have entered into partnership to commercialize Contrave in North America. Under the terms of the agreement, co will receive an upfront cash payment of $50 mln from Takeda, and Takeda will obtain an exclusive marketing right from co in the US, Mexico and Canada while OREX retains the right to co-promote with Takeda in the United States. Co will be eligible to receive payments of over $1 billion upon achieving certain regulatory and sales-based milestones.

03:18

ESLT Elbit Systems signs agreement to acquire Mikal's Holdings in Soltam, Saymar and (50.58 )

Co announces that it signed an agreement to acquire all the shares of Soltam Systems, Saymar, and ITL Optronics, that are currently held by Mikal and its subsidiaries. The consideration to be paid by ESLT for the acquisition will be ~$87 mln. The consideration to be paid to ESLT for its 19% holding in of Mikal's shares will be $18 mln. In addition, the agreement contains a provision for possible future payments to Mikal subject to the acquired subsidiaries achieving certain business goals.

01:24

KSP K-Sea Transportation Enters into agreement to raise up to $100 mln through Direct Equity Investment and completes amendments to credit facility and term loans (4.15 )

Co announces it has entered into a definitive agreement with KA First Reserve, whereby KA First Reserve will invest up to $100 mln in cash in exchange for approximately 18.4 mln convertible preferred units. The Preferred Units will have a coupon of 13.5%, with payment-in-kind distributions through the quarter ended 6/30/12 or, if earlier, when the co resumes cash distributions on its common units. The Preferred Units convert on a unit-for-unit basis into common units at KA First Reserve's option. The Preferred Units were priced at $5.43 per unit, which represents a 10% premium to the 5-day volume weighted average price of K-Sea's common units as of 8/2/10.

01:17

CRE Care Investment Trust announces three for two stock split (7.11 )

Co announces three for two stock split. to be effected in the form of a common stock dividend. Each shareholder of record as of the close of business on 9/13/10, will receive a dividend equal to one-half of one share of the Company's common stock for each outstanding share held on the record date. The dividend will be distributed to shareholders on 9/20/10.

01:14

WSC Wesco Financial Corp. announces formation of special committee of Board of Directors (363.00 )

Co announces that its Board of Directors has received a formal written proposal from Berkshire Hathaway to acquire the remaining 19.9% of the shares of WSC's common stock that it does not presently own in exchange for shares of Berkshire Hathaway Class B common stock and/or cash, at the election of the shareholder. In response, the Board of Directors has formed a special committee of independent directors to evaluate Berkshire Hathaway's proposal.

01:10

RBC Regal-Beloit acquires Rotor B.V. (57.39 )

Co announces that it has acquired Rotor B.V. For the remainder of 2010, the business is expected to add ~$10 mln to sales and a de minimis amount to diluted earnings per share after including the estimated impact of transaction costs, purchase accounting and intangible amortization based on the preliminary purchase price allocation. Sales for Rotor in 2011 are expected to be ~$27-30 mln and the addition to diluted earnings per share is expected to be $0.04-0.06 for the business.

18:28

PDE Pride Intl is trading 6.7% lower at $23.52 on light volume following news that the co reached an agreement with BP (see 18:26 comment) (25.20 +1.66) -Update-

18:26

PDE Pride Intl announced that it has reached agreement with BP Exploration & Production to amend the contract for the Deep Ocean Ascension (25.20 +1.66)

Co announced that it has reached agreement with BP Exploration & Production to amend the contract for the Deep Ocean Ascension to provide for a special standby dayrate prior to the startup of the previously agreed five-year term. The Ascension, the first of four new drillships in Pride's ultra-deepwater expansion, is currently in the Gulf of Mexico undergoing integrated acceptance testing with BP. The special standby dayrate of $360,000 is effective beginning August 23, 2010, and gives consideration to the existing drilling moratorium in the U.S. Gulf of Mexico.

18:24

TLEO Taleo announced it has signed a definitive agreement to acquire strategic partner Learn.com for ~$125 mln in cash (26.90 +1.27)

18:22

TNB Thomas & Betts announced that the co's Board has approved a new share repurchase program of up to 3 mln shares of the co's common stock (38.52 +1.57)

18:06

BXC Bluelinx: Cerberus extends cash tender offer of $3.40 for the outstanding shares in BlueLinx Holdings not owned by its affiliate (3.40 )

Cerberus ABP Investor LLC ("CAI"), an affiliate of Cerberus Capital Management, L.P., and owner of a 55.37% majority stake in BXC, announced that CAI and Cerberus have extended the expiration date of their cash tender offer of $3.40 per share for all of the outstanding publicly held shares of BXC not owned by CAI until midnight, New York City time, on Friday, September 17, 2010.

18:01

KGC Kinross provides additional information on Red Back Transaction (16.76 -0.16)

Co announced that, based on analyst consensus, production estimates for Kinross and Red Back, forecast pro forma gold production for the combined co would be ~3.9 mln ounces in 2015. KGC believes there is significant upside potential for Red Back's assets beyond this estimate, based on its evaluations and the potential for exploration and production expansion.

18:00

CE Celanese announces ethylene vinyl acetate price increases (28.05 +1.35)

Co announced today that its subsidiary, Celanese EVA Performance Polymers, will increase the price of all grades of Ateva(R) EVA by $0.06/pound and all grades of LDPE by $0.04/pound effective October 1, 2010, or as contracts allow.

17:52

Futures are trading higher after hours: S&P 500 futures are +2.36 from fair value of 1079.34 and Nasdaq100 futures +2.31 points from fair value of 1817.69

17:37

FCEL FuelCell Energy reports EPS in-line, revs in-line (1.16 +0.03)

Reports Q3 (Jul) loss of $0.15 per share, in-line with the Thomson Reuters consensus of ($0.15); revenues fell 17.8% year/year to $18.9 mln vs the $18.8 mln consensus.

17:19

CAL Continental Airlines reports August 2010 operational performance (23.17 +0.83)

Co reported an August consolidated (mainline plus regional) load factor of 86.5%, 0.7 points above the August 2009 consolidated load factor, and a mainline load factor of 87.2%, 0.6 points above the August 2009 mainline load factor. Both load factors were records for the month. The carrier reported an August domestic mainline load factor of 88.4%, 0.4 points below the August 2009 domestic mainline load factor, and a record international mainline load factor of 86.1%, 1.5 points above August 2009.

17:16

BKI Buckeye announces $140 mln redemption of notes (1269 +0.71)

17:11

HWD Harry Winston Diamond beats by $0.14 (10.26 +0.18)

Reports Q2 (Jul) earnings of $0.18 per share, excl gain, $0.14 better than the Thomson Reuters consensus of $0.04; revenues rose 62% year/year to $153.7 mln (No consensus).

17:06

HPY Heartland Payment Systems and Discover agree to $5 mln intrusion settlement (14.84 +0.069)

Co announced a settlement agreement with Discover Financial Services (DFS) related to the 2008 criminal intrusion of Heartland's payment system environment. Under the agreement, HPY will pay DFS $5 mln, resolving all issues related to the 2008 intrusion.

17:01

YONG Yongye International announces RMB 400 mln revolving credit facilities (7.82 +0.02)

16:56

CWST Casella Waste beats by $0.06, reports revs in-line; reaffirms FY11 revs in-line (4.54 +0.10)

Reports Q1 (Jul) loss of $0.11 per share, $0.06 better than the Thomson Reuters consensus of ($0.17); revenues rose 5.5% year/year to $139.8 mln vs the $141 mln consensus. Co reaffirms guidance for FY11, sees FY11 revs of $532-542 mln vs. $540.35 mln Thomson Reuters consensus.

16:53

HOV Hovnanian Entrpr misses by $0.40, misses on revs (3.68 +0.26)

Reports Q3 (Jul) loss of $0.92 per share, $0.40 worse than the Thomson Reuters consensus of ($0.52); revenues fell 1.7% year/year to $380.6 mln vs the $386 mln consensus. "On the positive side, July sales were modestly better than June and we saw August sales improve even more significantly compared to June. However, we still did not reach the sales pace we saw in July and August of the prior year. While far from a normal sales pace, we are hopeful that the stronger selling environment will continue into September and October."

16:52

RSCR Res-Care continues acquisition discussions proposed by Onex Corporation on August 16, 2010 (12.42 -0.01)

The board of directors cautions co's shareholders that no decisions have been made by the board with respect to a response to the proposal. There can be no assurance that any agreement will be executed or that this or any other transaction will be approved or consummated.

16:45

LLY Eli Lilly: Actavis received FDA approval to market Atomoxetine HCl capsules (34.20 +0.61) -Update-

No release date for Atomoxetine, Actavis' generic equivalent to Eli Lilly's Strattera has been set. Court of Appeals for the Federal Circuit is reviewing an Aug. 12 ruling that

16:42

NOEC New Oriental responds to NASDAQ request for plan to achieve minimum shareholder equity requirement (0.84 -0.01)

Co plans include conversion of certain outstanding debt to common equity and plans to encourage conversion to common stock of certain additional debt and outstanding warrants. Mgmt also may contribute paid-in capital. Co anticipates achieving a profit in its fiscal year fourth quarter as prices of fertilizer and alternative fuels continue to improve; Co says that its planned new coal venture with Shanxi Coal Transport & Sale expected to create new revenue streams.

16:41

KCI KCI's LifeCell and Novadaq Technologies enter North American sales and marketing agreement for exclusive distribution of SPY Imaging System (32.46 +0.54)

Co LifeCell, a business unit of Kinetic Concepts (KCI), and Novadaq Technologies (TSX: NDQ) announced the signing of an exclusive sales and marketing agreement for distribution of Novadaq's SPY Imaging System in North American surgical markets.

16:36

GRMH Graymark Healthcare reaches definitive agreement with Walgreens (WAG) to sell assets of 18 ApothecaryRx pharmacies; terms not disclosed (1.09 -0.15)

16:34

SORL SORL Auto Parts announced that on August 31, 2010, it purchased the assets from the Ruili Group for RMB 170 mln, or ~$25 mln; co expects the transaction to be accretive to both revenues and earnings (8.65 +0.09)

16:30

BLL Ball Corp announces plans to consolidate salmon can plant production; Co expects to record a largely noncash, after-tax charge of ~$7 mln (57.76 +1.68)

Co announced plans to consolidate the production equipment in its Richmond, British Columbia, plant into other company manufacturing facilities. The Richmond plant, which produces steel food cans, will cease production during the first quarter of 2011 and its customers will be served by other Ball facilities. The company expects to record a largely noncash, after-tax charge of ~$7 million related to the plant closure, of which ~$3 million will occur in the third quarter of 2010. After the final disposition of the land and building, the closure is expected to be cash positive by ~$8 million.

16:30

CI CIGNA names Thomas McCarthy acting Chief Financial Officer (33.57 +1.35)

Co announced the appointment of Thomas McCarthy, currently co's vice president and treasurer, to the position of acting chief financial officer, effective immediately. As acting chief financial officer, McCarthy will replace Annmarie Hagan whose departure is effective today.

16:28

AKS AK Steel announces October 2010 surcharges for electrical and stainless steels (13.33 +0.01)

Co has advised its customers that a $350 per ton surcharge will be added to invoices for electrical steel products shipped in October 2010.

16:26

GEF Greif beats by $0.13, beats on revs; guides FY10 EPS in-line (58.07 +1.22)

Reports Q3 (Jul) earnings of $1.34 per share, excluding non-recurring items, $0.13 better than the Thomson Reuters consensus of $1.21; revenues rose 28.4% year/year to $921.3 mln vs the $899.9 mln consensus. Co raises EPS guidance for FY10, sees EPS of $4.15-4.35, excluding non-recurring items, vs. $4.22 Thomson Reuters consensus, up from $4.05-4.30. For Q4 of 2010, the Co anticipates sequential improvement in sales volumes despite some moderation in the growth trajectory, additional productivity improvements from the Greif Business System, contributions from acquisitions and full realization of the permanent cost reductions implemented in 2009.

16:20

AJG Arthur J. Gallagher acquires Old Greenwich Consulting Group; terms not disclosed (25.57 +0.72)

16:15

CRME Cardiome Pharma resumes trading and pops over $0.50 in afterhours (6.19 +0.14) -Update-

16:12

IESC Integrated Electrical awarded contract from Mortenson Construction to provide electrical services at the Lakefield Wind Farm in southwestern Minnesota (3.65 +0.15)

16:10

AMIE Ambassadors Intl (AMIED) granted request by Nasdaq for continued listing (2.35 -0.30)

16:09

WXS Wright Express signs private label fleet card services agreement with ConocoPhillips (COP) (33.20 +1.09)

Co signed a 5 year agreement to provide private label fleet card services for ConocoPhillips (COP). Co will issue fleet cards and provide related services to all three brands affiliated with ConocoPhillips' motor fuels; Conoco, Phillips 66 and 76. Cos will closely collaborate in building a comprehensive sales and marketing program for direct sales as well as to support the local efforts of independent marketers and dealers who represent these brands through over 7500 sites.

16:09

SAI SAIC beats by $0.09, misses on revs; guides FY11 revs in-line (15.37 +0.49)

Reports Q2 (Jul) earnings of $0.42 per share, $0.09 better than the Thomson Reuters consensus of $0.33; revenues rose 1.6% year/year to $2.79 bln vs the $2.85 bln consensus. Co issues in-line guidance for FY11, sees FY11 revs growth of 3-6%, which calculates to ~$11.2-11.5 bln vs. $11.38 bln Thomson Reuters consensus. Co expects to grow EPS from continuing operations from 14-18%.

16:08

MATK Martek Biosci beats by $0.02, beats on revs; guides Q4 EPS inline, revs below consensus; guides FY10 revs in-line (22.41 +0.59)

Reports Q3 (Jul) earnings of $0.38 per share, ex-items, $0.02 better than the Thomson Reuters consensus of $0.36; revenues rose 50.6% year/year to $117.2 mln vs the $115.6 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.35-$0.39, ex-items, vs. $0.39 Thomson Reuters consensus; sees Q4 revs of $108-$113 mln vs. $113.94 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees FY10 revs of $439-$444 mln vs. $443.23 mln Thomson Reuters consensus.

16:08

HNSN Hansen Medical confirms first sale of its Lynx Irrigated Ablation Catheter and successful treatment of first patients using device (1.48 +0.10)

16:06

ANGN Angeion restructured its Board of Directors; Mark Sheffert elected to serve as its new chairman (4.31 0.00)

Mark Sheffert, Chairman and Chief Executive Officer of Manchester Companies, has been appointed to the board and elected to serve as its new chairman. Robert Munzenrider has been elected as a director of the Company and will serve as chair of the board's Audit Committee.

16:06

OI Owens-Illinois acquires Brazilian glass company for $603 mln; O-I expects the acquisition will boost regional net sales by ~$200 mln (26.48 +1.42)

Co announced the acquisition of Brazilian glassmaker Companhia Industrial de Vidros. Under the terms of the agreement, O-I is purchasing CIV's glass container business for $603 mln, which includes future tax benefits with an estimated present value of $140 mln. In the first full year of operation, O-I expects the acquisition will boost regional net sales by ~$200 mln. The return on investment is expected to exceed O-I's cost of capital. The purchase price reflects a 5.8 times EBITDA multiple for the first year of operation, excluding the present value of future tax benefits and including estimated net cost savings.

16:04

OXM Oxford Industries beats by $0.09, misses on revs; guides Q3 EPS below consensus, revs in-line; raises FY11 guidance (21.38 +1.66)

Reports Q2 (Jul) earnings of $0.44 per share, $0.09 better than the Thomson Reuters consensus of $0.35; revenues fell 3.3% year/year to $186.5 mln vs the $189.9 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.25-0.30 vs. $0.41 Thomson Reuters consensus; sees Q3 revs of $195-205 mln vs. $200.35 mln Thomson Reuters consensus. Co raises guidance for FY11, sees EPS of $1.82-1.92 up from $1.70-1.80 vs. $1.79 Thomson Reuters consensus; sees FY11 revs of $800-815 mln up from $790-805 mln vs. $801.43 mln Thomson Reuters consensus.

16:03

HT Hersha Hospitality Trust acquires Hampton Inn Washington, DC for $73 mln (4.87 +0.13)

The purchase price of $73.0 mln represents a forward capitalization rate of approximately 8.3% on the hotel's projected 2011 net operating income, and an unlevered IRR of approximately 11.7%. Co funded the purchase with cash and a draw on its revolving credit facility. The acquisition is accreative.

16:03

CRME Cardiome Pharma and Merck (MRK) announce that the nitravenous formulation of BRINAVESS has been granted marketing approval in the EU, Iceland and Norway (6.19 +0.14)

Co and Merck (MRK) announces that the intravenous formulation of BRINAVESS (vernakalant) has been granted marketing approval in the EU, Iceland and Norway for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults: for non-surgery patients with AF of seven days or less and for post-cardiac surgery patients with AF of three days or less.

16:02

BRO Brown & Brown Announces the Acquisition of Crowe Paradis; terms not disclosed (19.38 +0.34)

Crowe Paradis has annual revenues of approximately $23 million and is a national provider of Social Security and Medicare advocacy services, and second injury fund recovery services.

16:02

ASTI Ascent Solar says Chairman Mohan Misra will be retiring from the Board of Directors, effective Dec 31, 2010; to be replaced by Amit Kumar (2.08 unch)

16:01

PSS Collective Brands misses by $0.13, misses on revs (13.74 +0.81)

Reports Q2 (Jul) earnings of $0.32 per share, $0.13 worse than the Thomson Reuters consensus of $0.45; revenues rose 0.6% year/year to $841.3 mln vs the $862.8 mln consensus. The Co intends to reduce its leverage ratio of Net Debt to EBITDA to near 1x by the end of fiscal 2010.

16:01

PKOH Park-Ohio acquires Assembly Component Systems; to be immediately accretive to ParkOhio's earnings with annual revenues expected to exceed $50 mln per year (12.29 +1.15)

Co announced that its Supply Technologies (ST) business has acquired substantially all of the assets of Assembly Component Systems (ACS), a wholly owned subsidiary of Lawson Products (LAWS). In connection with the above transaction, ST and Lawson Products have entered into a strategic alliance to collaborate on common interests relative to certain MRO products in a variety of industries. Co stated " Annual revenues from this transaction are expected to exceed $50 million per year and be immediately accretive to ParkOhio's earnings."

16:00

MXIM Maxim Integrated Signs Russian Distribution Agreement With the Symmetron Group (16.36 +0.49)

Co announced that it has added the Symmetron Group as a new franchised distributor in Russia, Ukraine, and Belarus, effective September 1, 2010. This agreement bolsters Maxim's presence in these markets, making it easier for system designers to benefit from Maxim's high-performance engineering solutions. Maxim's solutions address a wide range of consumer, computing, communications, industrial, medical, and automotive applications.

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