Briefing.com: Hourly In Play (R) – 15:00 ET

Feb 12, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 12-Feb-10 15:00 ET

14:56

RIMM NASDAQ 100 (NDX) leaders & laggards moving into today's final hour of trading -Technical-

NDX 100 Best % Performers:

RIMM +3.25%, INTC +2.25%, NIHD +2.25%, QCOM +2.0%, NVDA +2.0%, MVL +1.50%, FSL +1.25%, AAPL +1.25%, STLD +1.25%, APOL +1.25%, NWSA +1.0%

NDX 100 Worst % Performers:

ADBE -3.50%, RYAAY -3.0%, FLIR -3.0%, WYNN -2.50%, CHRW -2.25%, SYMC -2.25%, GRMN -2.0%, JNPR -2.0%, FLEX -1.75%, EBAY -1.75%, MICC -1.50%, DTV -1.50%

NASDAQ TRIN @ +.70

NASDAQ A/D @ -100

14:53

INTC Dow (INDU) leaders & laggards moving into today's final hour of trading -Technical-

INDU Best % Performers:

INTC +2.25%, JPM +0.25%, CAT +0.25%, MRK +0.25%, CVX +0.25%

INDU Worst % Performers:

AA -2.25%, BA -1.75%, MMM -1.50%, UTX -1.50%, GE -1.50%, DD -0.75%, KF -0.75%

NYSE TRIN @ +1.40

NYSE A/D @ -285

14:42

COMDX NYMEX Energy Closing Prices -Update-

Crude oil finished lower by $1.24 to $74.04, natural gas ended up 7.5 cents to $5.471, heating oil settled lower by 5.26 cents to $1.9104 while RBOB gasoline shed 2.82 cents to close at $1.9075 (all March contracts).

14:38

TECHX Some late day color on the market action -Technical-

Still have a market with cross-currents heading into the long holiday weekend with relative strength in the COMPQ & NDX 100 along with the RUT 2000 small cap space but some persistent weakness in the INDU & broader SPX.

Market internals also paint a mixed picture at best with NASDAQ advancers & decliners at even & NYSE showing decliners outpacing advancers by nearly 350 issues.

TRIN levels also diverge here with NASDAQ posting a bullish reading near +.65 and NYSE in modestly bearish territory @ +1.40 here.

Trading volume is almost exactly even with yesterday's totals as of 2:30ET on both NYSE & NASDAQ.

14:35

PENN Penn Natl Gaming: Kansas Entertainment receives final approval from Kansas Racing and Gaming Commission for Kansas Speedway Gaming Facility (23.31 +0.02)

Kansas Entertainment a 50/50 joint venture of Penn Hollywood Kansas, a subsidiary of Penn National Gaming (PENN) and Kansas Speedway Development Corporation, a wholly owned subsidiary of International Speedway Corporation (ISCA) announced that it has received the final approval under the Kansas Expanded Lottery Act along with its gaming license from the Kansas Racing and Gaming Commission to proceed with the development of the Hollywood-themed destination casino overlooking Turn 2 at Kansas Speedway. In 2009 the Unified Government of Kansas City and Wyandotte County endorsed the project and Kansas Entertainment, which successfully negotiated a management agreement with the Kansas Lottery Commission. That agreement was subsequently approved by the Lottery Gaming Facility Review Board. Kansas Entertainment plans to begin construction of the facility early in the second half of 2010 with a planned opening in the first half of 2012.

14:14

QQQQ Nasdaq Comp rebounds back near yesterday/midday highs at 2180/2181 -Update- -Technical-

14:04

NTES Netease.com announces receipt of approval from the General Administration of Press and Publication for World of Warcraft: The Burning Crusade (37.65 ++2.86)

Co announces its affiliated company, Shanghai EaseNet Network Technology Limited, has received approval from the General Administration of Press and Publication of the PRC government for World of Warcraft The Burning Crusade, an expansion of World of Warcraft, as online game published goods. Shanghai EaseNet licenses World of Warcraft, a massively multi-player online role-playing game, for operation in China from Blizzard Entertainment.

14:02

DUK Duke Energy beats by $0.03, misses on revs (16.15 -0.06)

Reports Q4 (Dec) earnings of $0.28 per share, $0.03 better than the First Call consensus of $0.25; revenues fell 0.7% year/year to $3.11 bln vs the $3.44 bln consensus. "Our performance in 2009 was very solid. Despite year-over-year declines in retail sales volumes, we exceeded our employee incentive target by controlling our costs and managing our operations exceptionally well," said James E. Rogers, chairman, president and chief executive officer. "Although the economy has been challenging, the second half of 2009 showed signs of stabilization."

14:02

DNBK Danvers Bancorp announces merger of Beverly National Bank into Danversbank (13.42 -0.23)

Co announces effective as of 11:59 P.M. on Friday, February 12, 2010, all Beverly National Bank branches will merge into Danversbank and, on Tuesday, February 16, 2010, the eight former Beverly National Bank branches will reopen as Danversbank branches.

14:01

NFSB Newport Bancorp to initiate stock repurchase program (11.57 +0.24)

Co announces that it is commencing a stock repurchase program to acquire up to 191,508 shares, or 5%, of the Company's outstanding common stock. Repurchases, which will be conducted through open market purchases or privately negotiated transactions, will be made from time to time depending on market conditions and other factors. Repurchased shares will be held in treasury.

13:43

COMDX COMEX Metals Closing Prices -Update-

April gold finished lower by $5.90 to $1088.80, March silver ended down 16 cents to $15.43, and March copper fell 6.4 cents to settle at $3.0700.

13:21

SPY Stock indices rotate lower aggressively intraday -- Dow -105, S&P -10, Nasdaq -8 unable to hold minor midday gains -Update- -Technical-

13:20

IDCC Interdigital Comm issues upside guidance for Q4 and Q1 (24.37 +0.30)

Co issues upside guidance for Q4 (Dec), sees Q4 (Dec) revs of $76.4 mln vs. $75.92 mln First Call consensus. Co issues upside guidance for Q1 (Mar), sees Q1 (Mar) revs of $78-79 mln vs. $77.74 mln consensus. The range for first quarter 2010 does not include the potential impact of any new agreements that may be signed during first quarter 2010 or the potential impact of any additional royalties identified in audits regularly conducted by the company.

13:05

BRK.B Volume Alert -- Berkshire Hath B slips to fresh lows on an increase in relative volume, declining over $2.00 during the past 40 mins as it dips down to test the 75.00 area (75.08 -1.58) -Update- -Technical-

This volatility comes ahead of tonight's addition to the S&P 500. See 09:38 comment for further details.

12:59

LCC Airline Index -XAL- continues to outperform market averages, sets new session high -Technical-

LCC +8.5%, CAL +4.5%, MESA +3.4%, DAL +3%, AAI +2.3%, UAUA +1.6%.

12:50

UNG Midday sector ETF view -Technical-

Actively Traded Leading Sector ETF Plays:

Nat gas- UNG +2.50%, Semis- SMH +1.75%, IGW +1.25%, VIX vol index- VXX +1.0%, US bonds- TLT +0.50%, BND +0.25%, SPDRS biotech- XBI +0.50%, US Dollar index- UUP +0.25%, SPDRS homebuilders- XHB +0.50%, NDX 100- QQQQ +0.25%, S&P mid-cap- MDY +0.25%

Actively Traded Lagging Sector ETF Plays:

Heating oil- UHN -2.50%, Crude/WTI oil- USO -1.75%, OIL -2.0%, Global shippers- SEA -2.0%, China 25- FXI -2.0%, RBOB gas- UGA -1.75%, Oil HLDRS- OIH -1.50%, Commods- DBC -1.0%, GSG -1.50%, Emerging mkst- EEM -1.25%

12:42

CVG Convergys forms Strategic Relationship with MSFT (11.68 +0.08)

Convergys Corp (CVG) announced today that it is entering into a global strategic relationship with Microsoft (MSFT). The companies will be delivering the Convergys Smart Communications Suite powered by Microsoft. Currently under development, the solution will provide a next-generation business support system (BSS) that dramatically improves the customer experience. By combining Microsoft Dynamics CRM and Microsoft SQL Server 2008 R2 with the modular business support system capabilities of Convergys, the solution supports a shared vision of enabling service providers to rapidly deliver a wide range of new and differentiated services.

12:17

QQQQ Nasdaq Comp/100 and Mid-/Small-Cap indices extend into positive territory -Technical-

12:08

SMH Semiconductors Hldrs Trust extends near its declining 50 day ema (26.17 +0.38) -Update- -Technical-

Noted relative strength for the SMH in the 10:07, 10:28 and 12:02 updates with the recent advance leaving is up 7.2% off its Feb low to far outperform the market averages. It is now hovering slightly under resistance at its 50 day ema and the late Jan range highs in the 26.26/26.28 area (session high 26.19).

12:08

SPY Trading volume analysis-- NYSE & NASDAQ pacing a bit below yesterday's totals as traders square up ahead of long holiday weekend-- See volume charts -Technical-

Nearing midday, trading volume on both primary exchanges is running just below yesterday's tally at this point in the session as the indices remain under some modest downside pressure since the opening bell. However, price has improved off the lows led by relative strength in both COMPQ & NDX 100. We expect volume to remain light as traders and big players may be reluctant to get to aggressive in one direction or another ahead of the long three day holiday weekend.

As of 12:00ET, nearly 383M shares have changed hands vs. 402M yesterday, while over on NASDAQ, 861M shares have trader vs. 876M at this point yesterday.

NYSE 30 min volume

NASDAQ 30 min volume

12:03

AAPL Apple climbs higher above yesterday's high of 199.75 into midday approaching the "psychological" $200-mark. (199.78 +1.11) -Update- -Technical-

Note the current Feb high is 200.20 and the 50-day exponential moving average lies at 200.37. Next area of interest above these levels is the 50-day simple moving average near 201.75.

12:02

TECHX Relative sector strength -Update- -Technical-

Seeing relative sector strength (outperforming the S&P) in Semi SMH, Materials XLB, Ag/Chem MOO, Gold Miners GDX, Steel SLX as the indices hover at or near bounce highs.

12:01

SVU Supervalu announces its plans to sell all Connecticut Shaw's stores (14.64 -0.26)

Co announces its plans to sell all Connecticut Shaw's stores. The company has reached agreements with Wakefern for the sale of 11 Shaw's stores to individual owners, and with Stop & Shop for the sale of five Shaw's stores. These transactions are expected to close in Spring 2010. The company continues to seek buyers for its two additional stores in Connecticut.

11:34

AXG Atlas Acquisition announces termination of business combination with Select Staffing (9.90 +0.02) -Update-

Co announces the termination of its proposed business combination with Koosharem, a California limited liability company that does business as "Select Staffing." As previously announced, Atlas and Select Staffing had entered into an agreement and plan of merger pursuant to which Select Staffing would have become a wholly owned subsidiary of Atlas following approval of the merger by Atlas' stockholders. "While our proposed business combination with Select Staffing was not able to be consummated, we believe that Atlas and its board delivered to stockholders a very attractive investment opportunity in a difficult economic environment. Select Staffing has a high quality and experienced management team, a well-established presence in the temporary staffing industry, and a strong acquisition record. We wish Select Staffing continued success." (stock is halted)

11:32

Rumor Round Up

We have closed out the week with a rather slow rumor morning. It was rumored that Nestle could be interested in Nutrisystems (NTRI 21.01 -0.18). Shares of NTRI did not react materially to the rumor and are down 1% for the day. It was also rumored that Airgas (ARG 61.93 +0.22) could receive a competitive offer. Recently ARG's board rejected Air Products' (APD 65.82 +0.09) unsolicited $60 takeover proposal. We note multiple sell-side analysts have speculated that APD would have to increase its bid because it undervalues ARG. In addition, analysts have speculated that ARG could be discussing a friendly deal with other firms. 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.

11:27

AXG Atlas Acquisition trading halted - news pending (9.80 +0.02)

11:25

SPY Stock indices able establish minor new intraday recovery highs -- Dow -106, S&P -9.2, Nasdaq -12 -Update- -Technical-

As noted earlier, the S&P needs to work back through 1071 and 1073 in order to improve the pattern off yesterday's high (rebound high thus far this morning 1069.90).

11:11

PNRA Panera Bread moves to fresh 52 week & multi-year highs now @ 74.50 (74.38 +1.47) -Update- -Technical-

Price is now at levels not seen since mid 2006 with the all-time high point in play @ 75.88. Note on the monthly chart that the 75.00 area provided long-term congestion & resistance which preceded a sharp 38% correction later in 2006 from Apr~Aug.

PNRA now +2.0% vs. SPX -1.10%

11:06

RIG Transocean shares slide to session lows with weakness in energy (USO, OIH, XLE) remaining persistent this morning (81.79 -4.20) -Technical-

Price has notable support at the rising 200-day SMA in position here @ 81.45. Note the 200-day EMA capped downside & provided a firm bounce late last week on the initial test, with that Feb. swing low @ 80.97.

LoD now @ 81.69

11:02

OIH Crude oil moves modestly lower following inventory data; currently down $2.35 to $72.93

11:02

ACAS American Capital stockholders approve proposal authorizing limited share issuance below NAV (3.38 -0.10)

Co announces its stockholders have approved a proposal authorizing the Company to sell shares of its common stock in one or more offerings below the net asset value per share, subject to certain limitations, including the prior approval of the Company's Board of Directors.

11:00

SPR Spirit Aerosystems announces Philip Anderson has been named Senior VP and CFO, reporting to Jeff Turner, President and CEO. Anderson has served as Interim Chief Financial Officer since October of 2009 (17.50 -0.39)

10:35

VXX 1st hour sector ETF view -Technical-

Actively Traded Leading Sector ETF Plays:

VIX vol. index- VXX +2.50%, US Dollar index- UUP +0.50%, US bonds- TLT +0.50%, Nat gas- UNG +0.50%

Actively Traded Lagging Sector ETF Plays:

TAN -3.25%, China 25- FXI -2.75%, RBOB gas- UGA -2.75%, Crude/WTI oil- USO -2.25%, OIL -2.50%, Global shippers- SEA -2.25%, Heating oil- UHN -2.0%, Oil HLDRS- OIH -2.0%, Wind energy- FAN -2.0%, Emerging mkts- EEM -1.75%, iShares S Korea- EWY -1.75%, Base metals- DBB -2.0%, Silver- SLV -1.50%, Commercial banks- KBE -1.50%, Insurers- KIE -1.50%

10:34

SPY S&P 500 retraces 38% of Thur-Friday slide at 1069.49 and pauses -- bounce high 1069.34 -Update- -Technical-

Intraday resistances above that need to be taken out to improve the negative pattern off yesterday's high are at 1071 and 1073.

10:32

UNG Natural gas whipsaws to fresh low of $5.204, before immedietely moving back near the unchanged line, following inventory data; currently lower by 2.2 cents to $5.374

10:31

SPY Minor new intraday bounce highs for stock indices -- Dow -105, S&P -9, Nasdaq -13 -Update- -Technical-

10:28

SMH Semiconductors Hldrs Trust extends rebound off low to 1.7%, pauses near unchanged (25.76 -0.03) -Technical-

10:28

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

NDX 100 Best % Performers:

NIHD +2.25%, RIMM +2.0%, QCOM +1.50%, MRVL +1.50%, NVDA +1.50%, BRCM +0.75%, GENZ +0.50%, TEVA +0.50%

NDX 100 Worst % Performers:

FLEX -3.75%, RYAAY -3.50%, WYNN -3.25%, SYMC -3.25%, FLIR -2.50%, FWLT -2.25%, STX -2.25%, DELL -2.25%, ADBE -2.0%

NASDAQ TRIN @ +1.15

NASDAQ A/D -1145

10:26

AA Dow (INDU) leaders & laggards moving through the 1st hour of trading -Technical-

INDU best % Performers:

NONE

INDU Worst % Performers:

AA -2.50%, BA -2.50%, GE -2.25%, MMM -2.25%, UTX -2.0%, AXP -1.50%, BAC -1.50%

NYSE TRIN @ +1.50

NYSE A/D @ -1700

10:22

CMG Chipotle Mexican Grill shares continue to push higher in the face of broad mkt. weakness with shares trading to fresh 52 week highs above the Jan. 21 wing high (103.28 +2.16) -Update- -Technical-

CMG outperforming by a wide margin here with new 52 week highs @ 103.38 & +2.15% vs. SPX -1.10%.

Note: the extended hours high point following yesterday's earnings release stands @ 105.00

10:19

SPY Stock indices extend rebound attempt -- Dow -115, S&P -10, Nasdaq -13 -Update- -Technical-

The S&P 500 and Nasdaq Comp have held near support (09:52) and the Dollar Index has pulled back from resistance (see 09:46 for chart).

10:16

Morningstar reported U.S. mutual fund and exchange-traded fund asset inflows; Domestic-stock funds reversed four consecutive months of outflows

Morningstar reported estimated U.S. mutual fund and exchange-traded fund asset flows through January 2010. Mutual funds saw inflows of $44.5 bln in January. Domestic-stock funds gathered $2.7 bln in assets, reversing four consecutive months of outflows, while international-equity funds took in more than $8.1 bln--the biggest monthly inflow for the asset class since December 2007. Meanwhile, bond funds continued to dominate all other asset classes, with investors adding $28.0 bln to fixed-income funds during the month. Following strong inflows in 2009, U.S. ETF flows dipped into the red to kick off 2010, with $16.7 bln in net outflows in January. Although industry assets fell to $746.9 bln, a 4.8% decline from December, total net assets for ETFs grew 49.2% on a year-over-year basis.

10:07

XHB Seeing some relative sector strength in Housing XHB, Semi SMH, Materials XLB, Restaurant, REITs IYR in recent action -Technical-

10:05

DIA Dow -155 and S&P -15 set fractional new session lows, Nasdaq -21 did not confirm -Update- -Technical-

09:59

BRO Brown & Brown announces the acquisition of Medical Settlement Protocols (17.70 +0.01)

Co announced the acquisition of substantially all the assets of Protocols by a subsidiary of Brown & Brown. Protocols, with annual revenues of approximately $4 mln, is a national provider of medicare set-aside services, including medicare secondary payer statute compliance-related services, medicare cost allocation projections, claims resolution services, custodial account administration and consulting services, primarily in the area of workers' compensation and personal injury claims.

09:56

SPY Minor lift off lows for stock indices following sentiment data/Dollar Index downticks -- Dow -122, S&P -11, Nasdaq -17 -Update- -Technical-

09:52

SPY Quick slide to support for S&P 500 and Nasdaq Comp -Update- -Technical-

The indices opened weak and extended with a stabilization noted near support mentioned in The Technical Take at 1064/1063 S&P 500 and 2156/2151 Nasdaq Comp. Unfortunately, interest has remained limited thus far. Keeping an eye on the Dollar Index has it has thus far stalled near a resistance zone (see 09:46 for chart).

09:52

FSTR L.B. Foster co awarded $3.7 mln ports of Indiana contract (25.80 -0.43)

09:52

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: NTES (+3.15), BEC (+1.82), SWM (+1.64), SKIL (+1.36), ROVI (+1.28), MFE (+0.93), E (+0.77), RIMM (+0.66), QCOM (+0.47)

Point Losers: RTP (-8.42), BWLD (-6.30), GOOG (-4.80), CML (-3.98), BIDU (-4.11), MA (-4.20), NILE (-3.55), BGC (-3.57), GDI (-3.11), IR (-2.77), RIG (-2.79)

09:46

UUP Dollar Index gains weighs on market -Technical-

The advance in the Dollar has been a factor this morning with the rally bringing the Dollar Index back near a resistance zone (Click for daily chart).

09:46

SSRI Silver Standard has priced its previously announced public offering of common shares, the co will issue 5,882,353 common shares at a price of $17.00, for aggregate gross proceeds of approx $100 mln (17.14 -1.16)

09:43

BECN Beacon Roofing Supply announces acquisition of independent building materials of Orlando, Florida (16.90 -0.09)

Co announces it has acquired Independent Building Materials, a distributor of mostly residential roofing systems and related accessories with one location in Orlando. Financial terms were not disclosed.

09:40

XLB Early Sector Pressure -Technical-

Broad based pressure in the early going with Energy/Commodity/Materials pacing the way amid Dollar Index (see The Technical Take for chart)gains-- Steel SLX -3.2%, Gold Miners GDX -2.7%, Silver SLV -2.6%, Mining -2.7%, Oil Service OIH -2.3%, Coal KOL -2.1%, Materials XLB -2%, Ag/Chem MOO -1.7%. Also on the defensive are Solar TAN -4.2%, Shipping SEA -2.3%.

09:40

ECONX Reminder: Business Inventories data due out in about 20 min at 10:00ET

09:39

ECONX Reminder: Mich Sentiment data due out in about 16 min at 9:55ET

09:31

HUM Humana opens lower with the broad markets as price probes through the 50 day EMA & SMA moving averages with the Feb. swing low in play @ 45.65 (45.75 -1.07) -Technical-

Opening LoD @ 45.75

09:25

WWW Wolverine announces a $200 mln share repurchase program (25.36 )

09:08

DDSS Labopharm prices public offering of 11,764,706 units at price of $1.70/unit (2.01 )

09:01

SNMX Senomyx announces that it has prices ~7.1 mln shares at $2.80 (3.17 )

08:52

MPR Met-Pro Corp receives equipment orders totaling ~$800,000 (9.52 )

Co announced that environmental air solutions business unit has received two orders to supply Duall brand air pollution control systems. The combined total of these orders is ~$800,000.

08:52

KOF Coca-Cola FEMSA announces Q4 results; operating income grew 19.1% y/y to Ps. 4,827 mln (59.85 )

Co announces results for 4Q09. Total revenues reached Ps. 29,032 mln in 4Q09, an increase of 27.6% compared to 4Q08 driven by double-digit revenue increases in every division. Consolidated operating income grew 19.1% to Ps. 4,827 mln for 4Q09, mainly driven by double-digit operating income growth recorded in our Latincentro and Mercosur divisions. Our operating margin was 16.6% in 4Q09. Consolidated net controlling interest income increased 383.4% to Ps. 2,828 mln in 4Q09, mainly reflecting higher operating income in combination with a more favorable comprehensive financing result, resulting in earnings per share of Ps. 1.53 in the fourth quarter of 2009.

08:46

SCHW Charles Schwab reports monthly activity highlights; total client assets were up 27% y/y (17.68 )

Co reports its monthly market activity report. Company highlights for the month of January 2010 include: Net new assets brought to the company by new and existing clients in January 2010 totaled $6.0 bln; Total client assets were $1.401 trillion as of month-end January, up 27% from January 2009 and down 2% from December 2009; Client daily average trades were 354.7 thousand in January 2010, up 8% from January 2009 and up 23% from December 2009.

08:43

NED Noah Education reports Q2 revs of $22.7 mln; EPS of ($0.06) (4.14 )

"For the third quarter of fiscal 2010, we look to build on the momentum generated in recent quarters, and will commit additional resources in marketing efforts to further bolster sales of new product launches in what is expected to be our peak season. Driven by continued strong performance by our KLD products, we expect revenues to be in the range of RMB282 million to RMB293 million, with basic earnings per share in the range of RMB 1.16 ($0.17) to RMB1.30 ($0.19)."

08:31

DVR Cal Dive Intl experienced a more significant decline in its activity levels during the fourth quarter than it expected (7.05 )

The Company experienced a more significant decline in its activity levels during the fourth quarter than it expected as its customers had already spent the majority of their annual capital budgets heading into the winter months, which impacted both utilization and vessel pricing levels across the fleet. Furthermore, the weather in the US Gulf of Mexico was worse than expected, which reduced the number of days the Company's assets could work offshore, and one of its key diving assets working internationally experienced unexpected mechanical downtime. This also resulted in a higher than expected effective tax rate for the fourth quarter as a lower percentage of income was earned from foreign tax jurisdictions. The Company expects to report financial results for the fourth quarter of 2009 that are well below that of the first quarter of 2009.

08:31

SPY E~mini index futures see slight uptick but no clear direction defined just yet following econ. data -Technical-

Still in negative territory this morning but off GLOBEX lows.

ES -7.00 or -0.65%

NQ -12.25 or -0.70%

08:23

SWM Schweitzer-Mauduit clarifies customer contract; says it will serve as the sole supplier of co-developed, on-line banded cigarette paper technology (46.65 ) -Update-

Schweitzer-Mauduit International (SWM) contract with Philip Morris USA, specifies that Schweitzer-Mauduit will serve as the sole supplier of the co-developed, on-line banded cigarette paper technology used to produce low ignition propensity cigarettes. Schweitzer-Mauduit is, and has been for many years, a strategic partner with Philip Morris USA. Philip Morris USA is able to develop or explore alternatives to their MOD technology for their LIP needs and has informed us of their intent to do so on a volume of their requirements that is not material to SWM's ongoing supply of MOD product. The existing agreement does not address either party's rights to any technology beyond MOD. Mr. Villoutreix, commented, "Our comprehensive patent portfolio along with a commercially proven product has enabled Schweitzer-Mauduit to become the premier provider of LIP technologies for our industry. We have, and will continue, to protect our intellectual property and strive to further improve our LIP technologies and solutions to sustain this leadership position."

08:11

ECONX Reminder: Retail Sales data due out in about 19 min at 8:30ET

08:09

On The Wires

Cytokinetics (CYTK) announces that five abstracts regarding its research programs are scheduled to be presented as poster presentations at the Biophysical Society 54th Annual Meeting to be held February 20-24, 2010 at the Moscone Center in San Francisco, California. The posters summarize non-clinical findings in Cytokinetics' skeletal and smooth muscle contractility programs, as well as other prior research... China Holdings Acquisition (HOL) announces that its stockholders approved the Company's previously announced proposed business combination with Success Winner Limited, CHAC's target company and the parent entity of Jinjiang Hengda Ceramics Co., Ltd. Following the shareholder vote, the two companies completed the business combination. In conjunction with the business combination, CHAC merged into its wholly owned subsidiary and is now called China Ceramics... China Hydroelectric Corporation (CHC) announces that it has received a Loan Framework Agreement from the Bank of China's Fujian Branch pursuant to which the Bank of China has approved the Company's wholly owned finance subsidiary, Fujian Huabang Hydroelectricity Investment Co., as a borrower of up to an aggregate of RMB 3 billion. Under the terms of the Framework Agreement, the Bank of China has authorized loans to Fujian Huabang Hydroelectricity Investment Co. of up to RMB 3 billion in the aggregate for the acquisition of hydroelectric projects.

08:08

CRIS Curis achieves $8 mln milestone under Hsp90 collaboration with Debiopharm (2.31 )

Co announces that its licensee Debiopharm S.A has received approval from France's regulatory authority Agence Francaise de Securite Sanitaire des Produits de Sante of a Clinical Trial Application for small molecule heat shock protein 90 inhibitor Debio 0932, formerly called CUDC-305. Under the terms of Curis' and Debiopharm's August 2009 license agreement, Curis will receive an $8 mln milestone payment from Debiopharm for the achievement of this development objective.

08:06

A Agilent beats by $0.06, beats on revs; guides Q2 EPS and revs, FY10 EPS and revs above consensus (29.36 )

Reports Q1 (Jan) earnings of $0.38 per share, $0.06 better than the First Call consensus of $0.32; revenues rose 9.4% year/year to $1.22 bln vs the $1.18 bln consensus. Co issues upside guidance for Q2, sees EPS of $0.38-0.42, excluding non-recurring items, vs. $0.35 consensus; co sees Q2 revs up 12-15% YoY, which translates to revs of $1.22-1.25 bln vs the $1.18 bln consensus. Co issues upside guidance for FY10, sees EPS of $1.65-1.70, excluding non-recurring items, vs. $1.47 consensus; co sees FY10 revs up ~10%, which translates to FY10 revs of $4.93 bln vs the $4.80 bln consensus. "The economic momentum Agilent began to see late last year continued in our fiscal first quarter. First quarter revenues of $1.21 billion were up sequentially for the second consecutive quarter, and were 4 percent above one year ago."

08:05

HCP HCP beats by $0.05, misses on revs; guides FY10 FFO below consensus (28.04 )

Reports Q4 (Dec) funds from operations of $0.55 per share, $0.05 better than the First Call consensus of $0.50; revenues fell 0.5% year/year to $224.2 mln vs the $251.4 mln consensus. Co issues downside guidance for FY10, sees FFO of $2.11 to $2.17 vs. $2.18 consensus.

08:04

Intellipharmaceutics (IPCI) announces appointment of Chief Financial Officer (1.82 )

The co announces announced the appointment of Graham Neil, CA, as Chief Financial Officer and Vice-President, Finance. Mr. Neil is a Chartered Accountant with over 10 years of public company and healthcare industry experience. Most recently Mr. Neil served as CFO for a NASDAQ- and TSX-listed development-stage company. Prior to his public company experience, Mr. Neil served with KPMG.

08:03

CIIC China Infrastructure Investment reports Q2 EPS of $0.02 vs. $0.00 a year ago; revs of $11.6 mln vs. $12.1 mln a year ago (1.97 )

According to the Company, a severe snowstorm in November, 2009, which disrupted air, road and rail transportation for a lengthy period, led to an 8.2% reduction in average daily traffic volume units in the three month period ended December 31, 2009, compared with the same period in 2008. In turn, revenues in the current fiscal year second quarter declined to $11,606,494 from $12,101,788 in the same period last year. At the same time, the Company reported that an associated 46% decline in operating costs of the toll operations and a nearly 20% decline in interest costs in this year's second quarter compared with the prior year period, helped increase net income 526% to $1,771,445 or $0.02 per share, for the three month period ended December 31, 2009 from $282,583 or $0.00 per share in the second quarter last year... "We are very pleased with the substantial advance we achieved in net income in both the second quarter and six month periods. Further, we continue to anticipate that barring unusual events such as the November snowstorm, toll growth on the Expressway should accelerate in 2010 in line with China's gradually improving economy, especially in the Henan province where the urbanization process is ongoing."

08:01

PRGO Perrigo granted summary judgment of non-infringement in Mucinex case; Court rules that PRGO does not infringe the patent in the suit (47.06 )

Co announces that a federal court has granted summary judgment in its favor in patent litigation involving Guaifenesin Extended-Release Tablets, 600 mg, a generic version of Mucinex tablets. Perrigo had been sued by Adams Respiratory Therapeutics, (a subsidiary of Reckitt Benckiser Group plc.) the New Drug Application holder and patent owner. The United States District Court for the Western District of Michigan ruled today that Perrigo does not infringe the patent in the suit. Perrigo's ANDA is awaiting FDA approval.

08:01

PUDA Puda Coal prices $13.6 mln offering of common stock at $4.75 a share (5.00 ) -Update-

Co announced that it priced a public offering of 2,855,652 shares of its common stock at $4.75 per share. Co expects that the offering will yield net proceeds, after expenses, of $12,569,486, prior to the exercise of the underwriters' 30-day over-allotment option to purchase an additional 428,348 shares of its common stock.

08:00

CVVT China Valves Tech signs strategic cooperation frame agreement with Dongfang Electric (10.96 )

The co announces that the Company has signed a strategic cooperation frame agreement with Dongfang Electric Corporation (Dongfang Electric), the largest manufacturer of power generating equipment and contractor for power station projects in the world. In the first-ever strategic relationship between a major Chinese valve manufacturer and a leading Chinese producer of power generating equipment, China Valves and Dongfang Electric have agreed to establish a joint R&D center for the development of high-end valves that Dongfang Electric currently imports, in addition to entering into a full service agreement. Under the agreement, China Valves will supply Dongfang Electric with custom design services for specialty valves required in its power generation projects, manufacture the valves, and install and maintain them, providing Dongfang with a complete suite of valve-related services. The Company already supplied valves worth approximately $6 million to Dongfang Electric in 2009, and expects this strategic alliance to increase orders significantly. The Company anticipates its first orders from Dongfang Electric under this agreement in the first quarter of 2010.

07:37

INMD IntegraMed prices 2.5 mln share common stock offering at $7.50

Co announced that it has priced a public offering of 2.5 mln shares of its common stock at a price of $7.50 per share, of which 2 mln shares are being offered through the underwriters named below and 500,000 shares are being offered directly by IntegraMed to IAT Reinsurance, IntegraMed's largest stockholder. The approximately $17 mln of net proceeds, after deducting underwriting discounts, commissions and expected offering expenses payable by IntegraMed, are intended to be used to accelerate the addition of new partner fertility centers, to accelerate the pace of new vein clinic in 2010, or for general working capital and other corporate purposes.

07:34

PAS PepsiAmericas misses by $0.17, misses on revs (29.57 )

Reports Q4 (Dec) earnings of $0.16 per share, excluding$0.12 in non-comparable items, $0.17 worse than the First Call consensus of $0.33; revenues fell 17.3% year/year to $968 mln vs the $1.08 bln consensus. Comparable currency neutral revenue was lower by 6 percent as a result of constant territory volume declines of 8.9 percent. Net pricing on a currency neutral basis increased 2.2 percent, which included a softer mix impact in the U.S. The lapping of the 53rd week in the prior year period, which contributed approximately 4 percentage points to the decline in worldwide volume, revenue, and cost of goods sold, 3 percentage points to the decrease in SD&A and 5 percentage points to the operating income decline, is excluded from the comparable figures presented above. Additionally, the deconsolidation of the company's Caribbean business, which reduced worldwide volume and revenue by approximately 5 percentage points each, lowered cost of goods sold by 7 percentage points, decreased SD&A by 4 percentage points and decreased operating income by 3 percentage points, is excluded from the comparable figures presented above.

07:32

NITE Knight Capital Group releases Jan 2010 volume statistics; average daily U.S. equities dollar volume traded was $28.1 bln (15.73 )

Co releases Jan 2010 volume statistics. Average daily U.S. equities dollar volume traded was $28.1 bln, up approximately 28.5% from $21.9 billion in December 2009 and up approximately 54.0% from $18.3 bln in January 2009. Average daily U.S. equities trade volume in January 2010 was 3.9 mln, up approximately 20.2% from 3.2 mln in December 2009, and up approximately 18.5% from 3.3 mln in January 2009. Average daily U.S. equities share volume in January 2010 was 10.4 bln, down approximately 6.0% from 11.1 bln in December 2009, and up approximately 114.6% from 4.8 bln in January 2009.

07:30

ATAI ATA Inc announces $5 mln share repurchase program (3.52 )

07:16

AWI Armstrong World Industries announces that Michael Lockhart will be stepping down as chief executive, president, and Chairman effective Feb. 28, 2010 (36.35 )

Co announces that Michael Lockhart will be stepping down as the company's chief executive and president, and as chairman of the board and a director, effective Feb. 28, 2010. The Board has elected James O'Connor, currently the company's lead independent director, as chairman. Mr. O'Connor will head a search committee to identify and evaluate candidates for the CEO position. The Board expects to name an interim president in the near future.

07:08

NWE Northwestern Corp reports Q4 results (24.46 )

Northwestern Corp reports Q4 earnings of $0.70 vs $0.61 First Call consensus; revs decreased 7.4% year/year to $302.4 mln vs $274.00 mln First Call consensus. Co issues upside guidance for FY10, sees earnings of $1.95-$2.10 vs $1.92 First Call consensus

07:07

IR Ingersoll-Rand misses by $0.05, misses on revs; guides Q1 EPS below consensus, revs in-line; raises FY10 EPS guidance, still in-line; FY10 revs in-line (33.98 )

Reports Q4 (Dec) earnings of $0.48 per share, excluding non-recurring items, $0.05 worse than the First Call consensus of $0.53; revenues fell 9.9% year/year to $3.31 bln vs the $3.34 bln consensus. Co issues mixed guidance for Q1, sees EPS of $0.15-0.20, ex-items, vs. $0.38 consensus; sees Q1 revs of $3.0-3.1 bln vs. $3.02 bln consensus. Co issues in-line guidance for FY10, co raises FY10 EPS to $2.20-2.60, ex-items, vs. $2.30 consensus, up from $2.00-2.40 previously; sees FY10 revs of $13.5-13.8 bln vs. $13.52 bln consensus. Excluding a positive currency impact of 3%, revenues declined 13% compared with 2008. Reported U.S. revenues decreased by 14%, and revenues from international operations declined by approximately 5% (down by 11% excluding currency), with the sharpest year-over-year declines registered in Europe. Fourth-quarter reported operating margin was 6.7%, or 8.2% excluding restructuring, compared with a reported operating loss for the same period of 2008. "Ingersoll Rand's major end markets were showing mixed year-over-year results at the close of 2009," said Lamach. "Fourth-quarter orders were flat compared with last year, a notable improvement compared with the double-digit year-over-year declines in the first three quarters of 2009. Based on our recent order pattern, we continue to see a mixed picture of activity across our major end markets for 2010. We do see some positive signs of recovery in residential security and HVAC, North American and European refrigerated transport, Club Car, and across several of our businesses in China. However, we expect challenging U.S. and European non-residential construction markets for most of the year... Considering the ongoing weakness in several key markets and the prospect of some added material inflation, we are again operating with a conservative baseline plan and have developed additional contingency actions if markets perform below expectations."

07:01

PDS Precision Drilling Trust announces intention to convert to a corporation (8.38 )

Co announces its intention to convert to a growth-oriented corporation pursuant to a plan of arrangement under the Business Corporations Act. Precision anticipates seeking approval from unitholders in conjunction with its 2010 annual and special meeting of unitholders and expects to complete the conversion by May 31, 2010.

06:38

UPL Ultra Petroleum beats by $0.04, misses on revs; announces proved reserves, capital budget for 2010 (46.98 )

Reports Q4 (Dec) earnings of $0.51 per share, $0.04 better than the First Call consensus of $0.47; revenues rose 2.9% year/year to $213 mln vs the $237.2 mln consensus. Natural gas and crude oil production for Q4 ended December 31, 2009 increased 17 percent to 47.6 Bcfe compared to 40.6 Bcfe in 4Q08. This is the largest quarterly production level ever achieved by Ultra Petroleum. For the fourth quarter of 2009, production is comprised of 45.7 Bcf of natural gas and 329.3 thousand barrels of condensate. Co also announces that its total proved oil and gas reserves for the year-ended December 31, 2009, were 3.91 trln cubic feet of gas equivalent (Tcfe), an 11% increase from 3.52 Tcfe as of December 31, 2008. On a per share basis, the 2009 proved reserves increased 13% from 2008. The 2009 reserve replacement of 319% was achieved all organically. Corporate finding and development costs in 2009 were $1.29 per Mcfe, inclusive of all capital costs, as compared to $1.39 per Mcfe in 2008. Total capital costs during 2009 were $741.4 mln. Drilling only capital costs amounted to $640.3 mln, resulting in $1.12 per Mcfe finding and development costs. Co also reports that the co's Board of Directors approved the 2010 capital budget of $1,450.0 bln. The capital budget includes the previously announced Marcellus leasehold acquisition of $400.0 mln which is expected to close late February 2010. Excluding the acquisition, the 2010 capital budget is $1,050.0 bln. In 1Q10, the co's realized natural gas price is expected to average 4 to 6% below the NYMEX price due to regional differentials, before consideration of any hedging activity. Realized pricing for condensate is expected to be about $10.00 less than the average NYMEX crude oil price.

06:22

S&P futures vs fair value: -8.90. Nasdaq futures vs fair value: -15.00.

06:22

Asian Markets

Nikkei...10092.19...+128.20...+1.30%. Hang Seng...20268.69...-22.00...-0.10%.

06:22

European Markets

FTSE...5144.19...-17.70...-0.30%. DAX...5517.87...+13.90...+0.30%.

06:09

SKIL SkillSoft announces agreement on the terms of a recommended acquisition for cash by private investor group; shareholders to receive $10.80/share in cash (9.76 )

Co announces it has reached agreement on the terms of a recommended acquisition of the Company by a new company formed by funds sponsored by each of Berkshire Partners, Advent International Corporation and Bain Capital Partners. Under the terms of the recommended acquisition, SkillSoft shareholders will receive $10.80 in cash for each SkillSoft ordinary share or American Depositary Share, representing a 26% premium to the average closing price of SkillSoft's ADS over the one-year period ended on February 11, 2010 and a 49% premium to the average closing price of SkillSoft's ADS over the five-year period ended on February 11, 2010. The fully diluted equity value of the transaction is approximately $1.1 billion.

05:20

SSL Sasol Ltd: Confirmation of expected range of EPS for six months ended Dec 31, 2009 (36.07 )

In a trading statement released on 3 December 2009, co advised shareholders that EPS and headline EPS of the group for the six months ended 31 December 2009 were expected to decrease by at least 45% compared to the prior comparable period. Following completion of the half-year closure process, Sasol is now able to indicate that the reduction in EPS and HEPS is expected to be between 50% and 55%.

02:14

NBS NeoStem prices 5.0 mln common shares at $1.35/share (1.62 )

02:13

PUDA Puda Coal receives $14.6 mln loan commitment from chairman (5.10 ) -Update-

Co announces that Ming Zhao, Chairman of Puda Coal, committed to providing the co an unsecured RMB 100 million ($14.6 mln) loan for a 12 month term at prevailing market terms. Puda Coal expects to use the net proceeds of the offering, together with available cash, to fund the purchase price of the previously-announced acquisitions of Da Wa Coal and Guanyao Coal.

02:11

PUDA Puda Coal announces public offering of common stock (amount not yet determined) (5.10 )

Co expects to use the net proceeds of the offering, together with available cash, to fund the purchase price of the previously-announced acquisition of two coal mines.

02:07

SSRX 3SBio and Ascentage Pharma form strategic alliance to research, develop and commercialize cancer therapeutics (10.99 ) -Update-

Co and Ascentage Pharma announce that they have formed a strategic alliance to research, develop and commercialize best-in-class targeted cancer therapeutics focusing on programmed cell death, or apoptosis. The alliance will leverage Ascentage Pharma's expertise in structure-based small molecule design, lead optimization and preclinical development with 3SBio's proven drug development and commercialization capabilities in China. Under the terms of the agreement, 3SBio will make a $3.0 mln equity investment in Ascentage Pharma. The investment will be used to fund Ascentage Pharma's R&D programs.

02:05

SSRX 3SBio beats by $0.04, beats on revenue; issues in-line FY10 revenue guidance (10.99 )

Reports Q4 (Dec) earnings of $0.10 per share, excludes items, $0.04 better than the First Call consensus of $0.06; revenues increased 23.7% year/year to $10.9 mln vs $10.48 mln consensus. Co issues in-line guidance for FY10; sees revenue of $56.0-58.0 mln vs $57.08 mln consensus.

01:57

On The Wires

Key Energy Services (KEG) announces its January 2010 consolidated rig hours and trucking hours, which increased 2.7% and 5.0% over the previous month, respectively... 3SBio (SSRX) announces that it has submitted its application for a Phase I clinical trial for NuPIAO to the Chinese State Food and Drug Administration... Arbitron (ARB) announces that the Supreme Court of the State of New York for the County of New York has issued a Temporary Restraining Order effective immediately requiring Spanish Broadcasting System to resume encoding its broadcasting signals for Arbitron's Portable People Meter radio ratings service until Tuesday, February 16, 2010... Calgon Carbon (CCC) announces that it has signed a definitive agreement to acquire the shares of Calgon Mitsubishi Chemical which it does not currently own; under the terms of the definitive agreement, Calgon Carbon will increase its current 49% ownership interest in CMCC to 80% at the closing, which is currently expected to occur on March 31, 2010.

18:43

Futures are higher after hours with S&P 500 futures 0.38 points above fair value of 1076.12 and Nasdaq 100 futures 1.35 points above value of 1774.40

18:42

WAC Walter Investment Mgmt reports in-line (14.09 +0.19)

Reports Q4 (Dec) earnings of $0.34 per share, in-line with the First Call consensus of $0.34.

18:28

ESV Ensco delays commencement of a new ultra-deepwater semisubmersible drilling rig and is currently projected to commence operations in Q3 of 2010, instead of Q2 (41.02 +1.42)

Co reported that ENSCO 8502, a new ultra-deepwater semisubmersible drilling rig, is currently projected to commence operations in Q3 of 2010. Commencement was previously scheduled for late-second quarter 2010 following shipyard delivery last month. The rig currently is in a shipyard in Singapore, where it is completing final preparations prior to mobilizing to the U.S. Gulf of Mexico. The delay in commencement of operations is a result of recent fire damage that was contained in a portion of the engine room. There were no injuries to personnel. Insurance claims relating to the damage and repairs will be filed under appropriate insurance policies. Delivery schedules for the remaining ENSCO 8500 Series(R) rigs remain unchanged.

18:25

CPST Capstone Turbine registers to sell 1.55 mln shares of common stock for shareholders in an S-3 (1.25 -0.02)

18:21

CRESY Cresud SA reports results for the first six months (12.16 +0.99)

Net income for the first six months of FY 2010 amounted to Ps. 141.8 mln compared to the Ps. 12.3 mln posted in the first half of the previous fiscal year. Operating income for the six-month period amounted to Ps. 280.5 mln, composed by a Ps. 285.6 mln profit from the consolidation of IRSA's segments and a Ps. 5.1 mln loss from CRESY's agribusiness segments. The agribusiness segments had posted a Ps. 17.8 mln operating loss in the same period of the previous fiscal year. Operating losses in agribusiness segments as of December 2009 are attributable to the seasonality patterns in the crop segment revenue recognition. Co said, "Results should improve as summer crops, which were allocated most of the area under production, get harvested. Sowing presents a high degree of progress and the perspectives for crop evolution look good. Cresud paid dividends for Ps. 60 mln and allocated 0.053 treasury shares per share held among its shareholders. The treasury shares had been purchased during fiscal year 2008-2009 in the context of domestic and international markets' turbulence. IRSA: The Consumer Finance Segment, 80% of which is to be sold to Banco Hipotecario, has experienced a recovery in results. The rental segments have shown a solid performance, with a recovery in the Shopping Centers' revenue growth rates as from Q2 of the fiscal year, and an option to purchase Parque Arauco's 29.6% stake in Alto Palermo for US$ 126 mln was agreed upon. Should this option be exercised, it will imply the consolidation of IRSA's position in the Argentine shopping center market."

18:07

ACL Alcon beats by $0.10, beats on revs; guides FY10 EPS in-line (158.10 +1.37)

Reports Q4 (Dec) earnings of $1.61 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $1.51; revenues rose 14.5% year/year to $1.72 bln vs the $1.6 bln consensus. Co issues in-line guidance for FY10, sees EPS of $7.30-7.55 vs. $7.43 consensus; co expects full year 2010 organic sales growth to return to the mid-to-high single digits. The full year guidance assumes renewal of the U.S. Research and Experimentation tax credit in the second half of 2010 with retroactive application. This guidance also excludes any costs and/or reductions in sales associated with potential health care reform initiatives in the United States, as well as costs related to a potential change in control to and/or merger with Novartis.

17:57

BMA Banco Macro Bansud reports Q4 results (25.47 +0.37) -Update-

The Bank's net income totalled Ps.241.8 mln. This result was 31% higher than the Ps.184.1 mln posted for Q4 of 2008 ("4Q08") and 27% higher than the Ps.190.9 million earned in 3Q09. The annualized 4Q09 ROAE and ROAA were 30.2% and 3.8%, respectively. In 4Q09, the Bank's net financial income was Ps.585.1 million, increasing 3% year to year ("YoY"). In addition, BMA's operating income rose 33% YoY to Ps.316.5 mln from Ps. 237.8 mln. BMA's loans to private sector grew 2% quarter to quarter ("QoQ"), or Ps.186.9 million, with a recovery in consumer lending (credit card loans rose 12% and consumer loans grew 4%) and a 6% increase in discounted documents. Total deposits grew 17%, or Ps. 2,764.5 mln YoY, totalling Ps.18.6 bln and representing 79% of the Bank's total liabilities. Total deposits remained stable QoQ with a 3% increase in private sector deposits offset by a 11% decline in public sector deposits. BMA continued showing a strong solvency ratio, with an excess capital of Ps.2.4 bln (27.4% capitalization ratio) in 4Q09. In addition, the Bank's liquid assets remained at a high level, reaching 60.6% of its total deposits at December 31, 2009.

17:38

DCT DCT Industrial Trust reports EPS in-line, revs in-line; reaffirms FY10 FFO in-line (4.56 -0.11)

Reports Q4 (Dec) funds from operations of $0.11 per share, in-line with the First Call consensus of $0.11; revenues fell 4.6% year/year to $60.5 mln vs the $60.3 mln consensus. Co reaffirms guidance for FY10, sees FFO of $0.36-0.44 vs. $0.41 consensus.

17:35

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