Briefing.com: Hourly In Play (R) – 15:00 ET
Apr 06, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 06-Apr-10 15:00 ET
15:00
IYT Dow Transports testing its March/52-wk high at 4439 -- session high 4438.40 (80.09 +0.42) -Technical-
The Transportation ETF (IYT) is vacillating near its 52-wk close high from March at 80.11 (session high 80.14) with its 52-wk intraday high/multi-week range top is at 80.45.
14:56
BAC Bank of America pushes to daily highs as it edges modestly above its Mar/5-mth high of 18.35 (18.44 +0.30) -Update- -Technical-
This 18.30 area also carries some degree of importance from the action seen back in Aug and Sep as well (i.e. was resistance that coincides closely with the Mar high).
14:55
RIMM NASDAQ 100 (NDX) strength & weakness heading into the final hour -Technical-
NDX 100 Best % Performers:
RIMM +3.75%, AMZN +3.25%, LOGI +3.25%, STX +3.25%, DIHS +3.0%, CELG +2.50%, APOL +2.25%, ADSK +2.50%, YHOO +2.50%, GRMN +2.0%, DELL +2.0%, BIDU +2.0%
NDX 100 Worst % Performers:
NVDA -2.25%, VOD -2.25%, CA -1.75%, HOLX -1.50%, NIHD -1.25%, LIFE -1.25%, FSLR -1.25%, MAT -1.0%, MYL -1.0%, BBBY -1.0%, MICC -1.0%, GENZ -0.75%
NASDAQ TRIN @ +0.50
NASDAQ A/D @ +405
14:55
IBCP Independent Bank announces pricing of exchange offer for trust preferred securities (0.70 0.00)
Co announced it has filed a registration statement with the SEC in connection with its proposed offer to issue its common stock in exchange for its outstanding trust preferred securities, including the publicly-held trust preferred securities issued by IBC Capital Finance II (IBCPO). Co intends to offer shares of its common stock with a value equal to 80% of the liquidation amount of each trust preferred security tendered for exchange, plus 100% of all accrued and unpaid dividends through April 30, 2010. The co also intends to offer a premium equal to an additional 5% of the liquidation amount of each trust preferred security tendered for exchange prior to an early tender deadline to be established by the co. The co seeks to acquire in the exchange offer up to all of the outstanding $90.1 mln in liquidation amount of its outstanding trust preferred securities. As part of its recently-announced transaction with the Treasury, the co must acquire at least $40 mln in aggregate liquidation amount of trust preferred securities in the exchange offer as a condition to its ability to compel an early conversion of the preferred stock to be issued to the Treasury into the co's common stock.
14:52
AA Dow 30 (INDU) strength & weakness heading into the final hour -Technical-
INDU 30 Best % Performers:
AA +2.25%, BAC +1.50%, JPM +1.25%, DD +1.0%, MSFT +0.75%, DIS +0.75%
INDU 30 Worst % Performers:
TRV -1.50%, KO -0.75%, PG -0.75%, INTC -0.75%, VZ -0.50%, HD -0.50%
NYSE TRIN @ +0.70
NYSE A/D @ +540
14:48
COMDX NYMEX Energy Closing Prices
Crude oil settled higher by 22 cents to $86.84, natural gas shed 18 cents to finish at $4.097, heating oil ended up 0.16 cents to $2.2691 and RBOB gasoline closed off 0.18 cents to $2.3484.
14:44
COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices -Update
May corn closed higher by 0.75 cents to $3.465 per bushel, May soybeans closed higher by 8.5 cents at $9.445 per bushel, July wheat closed 10 cents higher at $9.635 per bushel, May ethanol closed higher by $0.001 cents at $1.55, May world sugar futures closed 0.51 cents lower to 15.89 cents.
14:40
SMH Relative Sector Strength -Update- -Technical-
As the indices push to new highs seeing relative strength (outperforming the S&P) in Semi SMH, Technology XLK, Retail XRT, Utility UTIL, Shipping SEA, REITs IYR, Steel SLX, Solar TAN, Ag/Chem MOO.
14:36
DIA Lagging Dow +8 approaches yesterday's 52-wk high at 10988 -- session high 10984 -Technical-
14:30
LEI Lucas Energy announces letter of intent for new joint venture, for the development of the Eagle Ford Shale properties (0.91 +0.09)
Co announced that it has signed the purchase and sale agreement referenced by the Letter of Intent for a new joint venture with a large, privately owned, oil and gas company described in the March 1, 2010 press release. The purchase and sale agreement is binding but is subject to determination of the actual acreage to be conveyed and the actual closing which is anticipated to be completed prior to April 30, 2010. Further details will be available after closing. The purpose of the proposed joint venture is the development of the Eagle Ford Shale properties owned by Lucas Energy, Inc. in Gonzales County, Texas. The joint venture partner is acquiring an 85% working interest in the deep rights, including the Eagle Ford Shale formation. Lucas will retain a 15% working interest. The development agreement does not include any of Lucas Energy's Austin Chalk acreage, producing wells, or its current production in the closing sale.
14:29
SPY S&P 500 reaches initial resistance -Update- -Technical-
Noted first level resistance in the 1190/1191 area in The Technical Take and have seen an extension to 1190.73 this afternoon. A continued posture above 1188/1187 would leave it in position for a follow through attempt. Next resistance is near 1195.
14:23
TVL Lin TV announces its subsidary Lin Television Corporation is expected to price $200 mln of senior notes, due 2018 (6.09 +0.03)
13:59
SPY Limited range trade ahead of FOMC minutes -Update- -Technical-
Short term despite some extended technicals and sentiment readings there have been no indications of developing pressure as the S&P vacillates just under the high (1188). Initial resistance above is in the 1190/1191 area followed by 1195. Intraday support is at 1184 in front of the 1181/1180 zone.
13:42
EW Edwards Lifesciences comments on FDA Warning Letter; does not expect this matter to have any impact on product approvals (101.07 -2.13) -Update-
Co confirms that it has received a warning letter from the FDA resulting from an inspection of Edwards' facility in Irvine, Calif., conducted in September 2009. The letter contains one observation related to six incidences of late MDR reporting that ranged from six to 29 days beyond the 30-day reporting requirement. The company's training procedures on the MDR reporting process were corrected during the inspection and discussed with the FDA. The FDA subsequently issued its Establishment Inspection Report (EIR) in October 2009 concluding its inspection. Edwards does not expect this matter to have any impact on product approvals.
13:38
COMDX COMEX Metals Closing Prices
June gold ended higher by $2.70 to $1136.50, May silver shed 15.8 cents to finish at $17.96 and May copper shed 1.45 cents to close at $3.617.
12:54
UXG US Gold Corp reports El Gallo continues to grow rapidly more thick intercepts & good grade (2.93 +0.03)
Co announces additional core drilling results that have expanded the mineralization at the El Gallo Project in Sinaloa State, Mexico. The three best holes of the eight assayed since the last update on March 24, 2010 are: 3.7 ounces of silver per ton (opt) over 266.9 ft (feet) (125.6 grams per tonne silver over 81.4 meters, 8.0 opt silver over 75.6 ft (273.8 gpt silver over 23.1 m) and 21.1 opt silver over 26.6 ft (725.1 gpt silver over 8.1 m). Drilling in the Main Zone successfully extended the mineralization in several directions. Hole GAX103 encountered two intersections of mineralization. Ongoing delineation drilling continues to encounter good grade starting near surface. Near surface mineralization at El Gallo is common throughout the project area
12:45
KRE Midday global & sector ETF movers... Regional Banks strong & Nat Gas weak -Technical-
The Actively Traded Leading Global & Sector ETF Plays:
regional banks- KRE +2.50%, RKH +1.50%, iShares REITS & real estate- ICF +2.0%, IYR +1.75%, commercial banks- KBE +1.50%, financials- IYF +0.75%, XLF +0.75%, Chile- ECH +0.75%, capital mkts- KCE +0.50%, US Dollar index- UUP +0.50%, ISE Revere nat gas components- FCG +0.50%, Yen currency shares- FXY +0.50%, global timber- CUT +0.50%, gold- GLD +0.50%, gold miners- GDX +0.50%
The Actively Traded Lagging Global & Sector ETF Plays:
nat gas- UNG -2.75%, iShares Germany- EWG -1.25%, wind energy- FAN -1.0%, semis- SMH -1.0%, IGW -1.0%, XSD -1.0%, solar power- TAN -1.0%, silver- SLV -1.0%, homebuilders & construction- ITB -1.0%, XHB -0.50%, Euro currency shares- FXE -0.75%, high yield corp bonds- HYK -0.75%, ag/chem- MOO -0.75%, base metals- DBB -0.75%
12:37
SPY Stock indices slip back slightly off highs in midday trade -- Dow -20, S&P -0.8, Nasdaq -0.6 -Update- -Technical-
Watching intraday support on lagging Dow at 10950/10944 for a read on the underlying health of the bounce off the low.
12:26
COMDX Natural gas trades to its lowest levels of the session at $4.168; now off 9.3 cents to $4.184
12:19
GSI General Steel enters into strategic lease agreement with subsidiary (7.03 +0.23)
Co announced that its wholly owned subsidiary, General Steel (China) entered into a Lease Agreement with Tianjin Daqiuzhuang Steel Plates, a related party of the Company. The Lease Agreement provides ~72,100 square meters of workshops, land, equipment and other facilities to Tianjin Daqiuzhuang Steel Plates and allows the Company to reduce overhead costs while providing a recurring monthly revenue stream from rental payments. The term of the Lease Agreement is from January 1, 2010 to December 31, 2011 and the monthly base rental rate due to General Steel (China) is ~$246,096.
12:13
PCLN Priceline.com pushes to fresh highs as it elevates above its 5-day range high near the 260.00 area; currently eyeing a test of its Mar intraday/multi-yr high of 262.67 (261.82 +4.17) -Technical-
12:09
NCMI National Cinemedia entered into a network affiliate agreement with Metropolitan Theatres Corporation (18.70 +0.25)
Co has entered into a network affiliate agreement with Metropolitan Theatres Corporation for the presentation of cinema advertising and NCM Fathom entertainment events. The exclusive multi-year agreement covers 17 Metropolitan movie theaters with 77 screens in California, Colorado, Idaho and Utah, with select screens exclusively presenting NCM's FirstLook digital pre-feature program and NCM Fathom's live and pre-recorded in-theater events beginning in the second quarter of 2010.
12:00
MRGE Merge Healthcare announces offering of $200 mln senior secured notes due 2015; will be used to fund a portion of the proposed acquisition of AMICAS (AMCS) (2.36 +0.13)
11:56
CAE CAE Inc concludes agreement to refinance its existing credit facility due to expire in July 2010 (10.31 +0.12)
The new agreement is a committed 3 year revolving credit facility of $450 mln with an option to increase to a total amount of up to $650 mln.
11:55
European Markets Closing Prices: FTSE: 5778.1 +33.2 +0.6%, DAX: 6252.2 +16.7 +0.3%, CAC: 4053.9 +19.7 +0.5%, Spain's IBEX: +0.8%, Portugal's PSI: +0.1%
11:50
BANR Banner announced that Mark J. Grescovich has been named President (4.64 +0.40)
11:48
SLB Schlumberger continues to climb higher intraday towards its March peak of 66.98 (66.95 +1.19) -Technical-
11:36
IWM New 52-wk highs for Russell 2000, S&P Mid-Cap 400, S&P 500 -Technical-
The Nasdaq Comp is just under the March/52-wk high at 2432, the Nasdaq 100 is slightly under yesterday's 52-wk peak at 1981 while the Dow has a little more work to reach yesterday's 52-wk peak at 10988.
11:36
HSC Harsco rail unit recieves New Railway Track Maintenance Equipment Order in Brazil, terms of the order were not disclosed (33.32 0.00)
11:28
QQQQ Nasdaq Comp +0.4 and S&P +0.4 edge above yesterday's highs, Dow -5.7 at new session high but lagging -Technical-
11:21
KGC Kinross Gold increases stake in Millrock Resources, up 841,042 shares to 3,028.542 shares owned (17.98 +0.21)
Co announced that it has made a private placement financing of C$250,000 in which Kinross has purchased 841,042 shares of the Millrock Resources at C$0.29725. The price reflects the 20-day moving average of Millrock's share price as of March 31, 2010. The financing is subject to TSX-V approval. With the completion of this financing Kinross now owns 3,028,542 Millrock shares, representing ~6.4% of the total issued and outstanding shares of the co. The financing is in connection with the recently announced option to joint venture agreement between the two cos, concerning the Council gold property in western Alaska. By the terms of the option agreement Kinross had 60 days within which to make the private placement, but elected to move immediately to make the share purchase. From a prior financing arrangement Kinross holds 1,093,750 share purchase warrants at C$0.21 that may be exercised prior to June 4, 2011 and an anti-dilution right to participate in future financings.
11:16
TECHX Relative Strength -Update- -Technical-
Stock indices are hovering near their morning bounce highs with intraday relative strength (outperforming the S&P) continuing to be noted in Finance (XLF, KBE, KRE, KBH), Materials XLB, Energy (XLE, OIH), REITs IYR, Casino BJK, Gold Miners GDX, Shipping SEA, Housing XHB.
11:16
Rumor Round Up
Today was a relatively quiet session for the rumor mill, compared to last week's activity. Synaptics (SYNA 29.16 +0.09) shares spiked following a rumor Microsoft (MSFT 29.14 -0.12) could be interested in the co. We note SYNA shares could not hold on to their gains, SYNA calls however are seeing interest with a total of 12.8K calls traded vs 430 puts. Commercial Metals (CMC 16.16 +0.48) shares rose following renewed takeover chatter; Nucor (NUE 47.74 +0.21) was the speculated aqcuirier this time around. CMC calls are seeing interest following the renewed takeover chatter with ~14.6K total calls traded vs 480 puts. 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.
11:02
HOT Starwood Hotels on track to grow portfolio in India 60% by 2013 (48.30 +0.28)
Co announced it is on track with plans to grow its existing portfolio of 26 hotels in India 60% by 2013. Looking ahead, Starwood and its partners have another 15 hotels under development in India - including six Aloft hotels - three of which are slated to open this year.
10:54
APD Air Products to build new hydrogen plant in Malaysia for Oleochemical industry (73.85 -0.32)
Co announced it is building a new hydrogen production facility in West Port, Selangor, Malaysia to support increasing product demand in the region. The steam methane reformer will have a hydrogen production capacity of more than 1.5 mln standard cubic feet per day and is projected to be completed in the first quarter of 2011. It will supply high purity hydrogen and steam to its on-site customer and also supply the fast growing merchant hydrogen market in central Malaysia.
10:51
KRE streetTRACKS KBW Reg Bank notches new session high of 27.19, working up toward its March/52-wk peak at 27.32 (27.17 +0.58) -Update- -Technical-
Noted relative strength in the Financial arena and KBE as it was testing its 52-wk high at 26.75 (session high 27.07) in the 10:04 update. The new session high in the KRE (27.19) leaves it modestly under its 52-wk peak from March at 27.32. Components of the KRE include: BOH, CVBF, FMER, FULT, MBFI, ONB, PACW, SBNY, SIVB, UMPQ.
10:38
TIV Tri Valley announces $5.0 mln registered direct offering; Recent Asset Sale (1.43 -0.72) -Update-
Co announced that it executed a Securities Purchase Agreement on April 6, 2010, with a group of institutional investors to purchase $5.0 mln of its common stock and warrants in a registered direct offering of securities. Net proceeds from this offering will be used to drill a horizontal injector well to evaluate Steam Assisted Gravity Drainage (SAGD) at its Pleasant Valley heavy oil project at Oxnard, California, for future use in the development and production of heavy oil reserves. Tri-Valley also announced that it has recently completed the $700,000 cash sale of a surplus steam generator. In addition, Tri-Valley is negotiating the sale of its South Belridge and Shields-Arms leases. Based on a multiple of current annual net cash flow, the co expects that the leases could generate an aggregate sales price of between $2.5 and $4.0 mln. However, the actual sales proceeds could vary due to a number of contingencies including, but not limited to, changes in oil and gas prices, future operating results or changes in reserve estimates.
10:37
LNT Alliant Energy unit Wisconsin Power and Light agrees to purchase Wisconsin Electric power co's 25% share of Edgewater generating station unit 5 (33.80 -0.13)
Wisconsin Power, a subsidiary of Alliant Energy Corporation (LNT), announced that it had plans to move forward with an asset sale agreement with Wisconsin Electric Power Company to purchase its 25% ownership interest in Edgewater Generating Station Unit 5 in Sheboygan, Wisconsin for an undisclosed purchase price.
10:35
KRE 1st hour global & sector ETF movers... Regional Banks strong & Nat Gas weak -Technical-
The Actively Traded Leading Global & Sector ETF Plays:
regional banks- KRE +1.75%, RKH +1.25%, commercial banks- KBE +1.50%, iShares REITS & real estate- ICF +1.25%, IYR +1.0%, steel- SLX +1.0%, iShares Brazil- EWZ +0.75%, SPDRS metals & mining- XME +0.50%, VIX vol index- VXX +0.50%, US Dollar index- UUP +0.50%, financials- IYF +0.50%, XLF +0.50%
The Actively Traded Lagging Global & Sector ETF Plays:
nat gas- UNG -1.25%, iSHares Germany- EWG -1.25%, homebuilders & construction- ITB -1.25%, XHB -1.0%, semis- XSD -1.0%, IGW -1.0%, SMH -1.0%, solar power- TAN -0.75%, base metals- DBB -0.75%, Euro currency shares- FXE -0.75%, Pound/Sterling currency shares- FXB -0.75%, ag/chem- MOO -0.50%, iShares telecom- IYZ -0.50%
10:31
ZAGG ZAGG announces the release of PhotoPad, ZAGG's first app designed for the Apple (AAPL) iPad (2.96 +0.02)
10:31
MDCA MDC Partners acquires majority interest in public relations firm Sloane & Company (10.71 +0.03)
10:30
TECHX Sector relative strength as stock indices creep slowly higher off early lows -- Dow -22, S&P -1.1, Nasdaq -4 -Update- -Technical-
Sectors outperforming the S&P on the intraday bounce include: Finance XLF / RKH, Energy XLE / OIH, Internet HHH (AMZN +2.8%), Housing XHB, Materials XLB, REITs IYR, Shipping SEA, Casino BJK, Solar TAN, Steel SLX, Rail, Gold Miners GDX.
10:25
AMZN 1st hour NASDAQ 100 (NDX) strength & weakness -Technical-
NDX 100 Best % Performers:
AMZN +2.50%, LOGI +2.50%, CELG +2.0%, RIMM +2.0%, STX +1.75%, GRMN +1.0%, WCRX +1.0%, DISH +1.0%, DELL +0.50%, ATVI +0.75%, BIDU +0.50%
NDX 100 Worst % Performers:
CA -5.50%, NVDA -3.0%, VOD -2.75%, NIHD -1.75%, MICC -1.50%, BMC -1.50%, SYMC -1.25%, URBN -1.25%, MAT -1.25%, EBAY -1.25%, BRCM -1.0%, FSLR -1.25%
NASDAQ TRIN @ +0.70
NASDAQ A/D @ -255
10:23
BA 1st hour Dow 30 (INDU) strength & weakness -Technical-
INDU 30 Best % Performers:
BA +1.25%, AA +1.0%, DIS +1.0%, DD +0.50%, PFE +0.50%
INDU 30 Worst % Performers:
TRV -1.25%, INTC -1.25%, MSFT -0.75%, IBM -0.75%, HPQ -0.50%, KO -0.50%
NYSE TRIN @ +0.65
NYSE A/D @ -315
10:20
XLF Financial Select Sector SPDR displays intraday relative, approaches its March/52-wk high at 16.32 -- session high 16.31 (16.31 +0.07) -Technical-
Noted relative strength in Bank (KBE) earlier and have seen the XLF push back near its March/52-wk peak in recent trade -- AXP, BAC, BK, GS, JPM, MS, STT, USB, WFC, C, TRV (attempting to hold at 50 ema), PNC.
10:20
SNEN Sinoenergy amends merger agreement with Skywide Capital Management Limited, payment of $1.90/share to stockholders not changed by amendment (1.62 0.00)
Co announced that, on March 29, 2010, it entered into an amended and restated agreement of merger with Skywide Capital Management Limited and a wholly-owned subsidiary of Skywide, pursuant to which Skywide's subsidiary will be merged into the co, with the result that the co will become a wholly-owned subsidiary of Skywide. Upon the effectiveness of the merger, each issued and outstanding share of the co's common stock, other than shares owned by Skywide, will automatically be converted into the right to receive $1.90/share. Skywide is owned by the co's chairman, Mr. Tianzhou Deng, and its president, Mr. Bo Huang. Skywide is the co's largest shareholder, owning ~39.06% of the co's outstanding common stock.
10:15
SPY Minor new rebound highs for stock indices -- Dow -22, S&P -1.5, Nasdaq -5.6 -Update- -Technical-
10:04
KBE SPDR KBW Bank testing March/52-wk high at 26.75 -- session high 26.75 (26.74 +0.13) -Technical-
BAC, BK, BBT, C, JPM, MTB, PNC, STT, USB, WFC.
10:02
BIDU Baidu.com strong extension of opening gain amid pick up in volume, pauses slightly under last week's peak at 607.41 -- session high 606.80 (605.03 +3.73) -Technical-
The late March high comes into play at 613.49.
10:01
RTN Raytheon awarded Earth observing system engineering contract by NASA Goddard with initial value of $75 mln (57.16 -0.39)
Co has been awarded a NASA Goddard contract to maintain and manage large volumes of sensing data and imagery from space instruments. The Earth observing system data and Information System evolution and development contract will give climate researchers access to valuable data about the earth's atmospheres, oceans, lands and their interactions. The evolution and development program, an indefinite-delivery, indefinite-quantity cost plus award fee contract, will have a $250 mln ceiling for the five-year base period of performance and an initial value of $75 mln.
09:54
XHB SPDR Homebuilders stabilizes after testing initial support (17.10 -0.20) -Technical-
The sector (XHB) provided early downside leadership after negative comments/downgrades but the XHB has stabilized near yesterday's low of 17.00 (session low 16.99) and has stabilized (LEN, MDC, MTH, PHM, SPF, TOL, HD, LOW, MHK, SHW). Follow through above the 17.20/17.24 area is needed to improve the weaker pattern off Monday's 52-wk high.
09:50
COMDX Crude oil breaks above $87 to put in highs at $87.09; now higher by 42 cents to $87.04
09:48
TECHX Opening Point Gainers/Losers -Technical-</p>
Point Gainers: AMZN (+3.34), NFLX (+2.35), WLT (+1.95), MTB (+1.93), ANR (+1.60), X (+1.63), ZANE (+1.51), DNDN (+1.59), CPBY (+1.56), WATG (+1.07), KMGB (+0.95)
Point Losers: MEE (-5.30), ICE (-3.86), DB (-2.47), BYI (-2.03), ACL (-1.83), CREE (-1.49), SI (-1.40), ALGN (-1.34), FSYS (-0.95), SNE (-1.24)
09:48
TAM TAM S.A. and Continental Airlines (CAL) announce Frequent Flyer Program Partnership (17.81 +0.32)
09:47
TRV Travelers lagging Dow component, extends recent slump near 50-day and stabilizes (52.68 -0.65) -Update- -Technical-
The stock is down for the third session in a row (as much as 3.2% intraday during this period) but it has stabilized after testing its 50-day ema at 52.56 (session low 52.54). Its 50-day sma is at 52.33).
09:43
DNDN Dendreon-- shares gap up strongly into new all-time highs as traders & investors continue to position themselves ahead of the widely anticipated May 1 PDUFA (39.97 +1.78) -Technical-
New highs @ 39.97
09:43
AMZN Amazon.com displays relative strength in early trade amid stronger volume (134.27 +2.78) -Technical-
09:40
KOL Sector Watch -Technical-
The market averages are weaker but edging off early lows. Sectors that are displaying relative strength this morning include: Coal KOL +0.8%, Healthcare +0.9%, Airline +0.6%, Steel SLX +0.3%, Bank KBE +0.1%.
09:38
SPY S&P pulls back near, holds above breakout point -Technical-
The S&P declined back below initial support at yesterday's range lows but has thus far been able to hold above its breakout point/March and April 1st highs at 1181/1180 (session low 1182.77). Intraday resistance is at 1185/1186.
09:35
MEE Massey Energy gaps down to challenge support in the 47.50-49.00 area (49.16 -5.44) -Update- -Technical-
09:29
VLNC Valence Tech announced it will provide lithium phosphate energy storage systems for the new plug-in electric Mercedes eVito Taxi (0.95 )
09:24
ZOOM ZOOM Technologies unveils LEIMONE 3G phone for China Telecom (7.25 )
Co unveiled the LEIMONE E63, its first in a series of 3G "LEIMONE" brand phones. Co says its is designed specifically for China Telecom's 3G network recently rolled out in China.
09:22
ASR Grupo Aeroportuario Del Sureste announces that total passenger traffic for March 2010 increased by 0.2% when compared to March 2009 (52.86 +1.31)
09:20
PII Polaris Inds awarded contract with Educational and Institutional Cooperative Purchasing (53.80 )
Co announced that it was awarded a new competitively solicited contract with Educational and Institutional Cooperative Purchasing. The contract makes Polaris vehicles available to all E&I Cooperative members comprised of more than 1,700 colleges, universities, prep schools and other institutions. The contract went into effect March 1, 2010 and the offering will consist of a full catalog of ATVs, RANGER Side-by-Sides, snowmobiles and the Polaris EV LSV, as well as Polaris parts and accessories.
09:19
EPHC Epoch Holdings announces 11% increase in AUM to $12.6 bln (11.86 )
Co announced that its assets under management ("AUM") were approximately $12.6 bln as of March 31, 2010, an increase of 11% from $11.4 bln as of December 31, 2009. A significant component of the increase in AUM was the funding of several new institutional and sub-advisory mandates, in both U.S. and global products.
09:16
AKS AK Steel announces May 2010 surcharges for electrical and stainless steels of $420 per ton (24.20 )
09:08
FUN Cedar Fair and Affiliates of Apollo Global Management Mutually Terminate Merger Agreement (12.20 )
Co announced that it and affiliates of Apollo Global Management have mutually agreed to terminate the previously announced definitive merger agreement. Consistent with the terms of the agreement, Cedar Fair will pay Apollo $6.5 million to reimburse Apollo for certain expenses incurred in connection with the transaction. In addition, both parties will release each other from all obligations with respect to the proposed merger transaction as well as from any claims arising out of or relating to the merger agreement. As a result of the termination of the merger agreement, the Special Meeting of Unitholders to be held on April 8, 2010 has been cancelled. The Company will hold its 2010 Annual Meeting of Unitholders on Monday, June 7, 2010, for unitholders of record as of April 23, 2010... In order to allow adequate time to evaluate all options, a unitholder rights plan (the "Rights Plan") has been adopted. The Rights Plan is designed to enable all unitholders to realize the long-term value of their investment in the Company and to ensure that all unitholders receive fair and equal treatment in the event of any hostile attempt to gain control of the Company. The Rights Plan is not designed to prevent transactions that treat all Cedar Fair unitholders fairly. (Note that the offer from Apollo was at $11.50/share in cash).
09:04
NZ Netezza selected by Department of Energy for $178 mln northwest smart grid project (45.75 )
The United States Department of Energy has selected a Pacific Northwest team including Netezza to conduct a regional smart grid demonstration project designed to expand upon existing electric infrastructure and test new smart grid technology with up to 60,000 customers in five states. The total estimated cost for the project is $178 million. DOE will provide half the funding through the American Recovery and Reinvestment Act. The project's participants-utilities and industry team members including Netezza-will provide the remaining investments.
09:04
SYMM Symmetricom to transfer product fabrication processes to Sanmina-SCI facilities (6.33 )
Co entered into an agreement to transfer product fabrication processes and related activities from Symmetricom's Aguadilla, Puerto Rico facility to Sanmina-SCI facilities. The transfer is expected to be complete within one year. Costs related to the transition are expected to total approximately $15 million over the next year, including $13.5 million in cash. Symmetricom will begin incurring these costs immediately. The company plans to build approximately $4.0 million in buffer inventory to support the transition. Once the transition is completed, Symmetricom expects to save approximately $6.0 million per year and bring the benefit of a more flexible and efficient supply chain to its customers worldwide. Under the agreement, Symmetricom will not transfer its physical facility or the manufacturing assets located in Puerto Rico to Sanmina-SCI. Symmetricom intends to shut down the Puerto Rico manufacturing facility at the end of the transfer period. Approximately 150 employees will be affected.
09:03
SHAW Shaw Group awarded contract for State of Louisiana Energy Efficiency Programs (35.62 )
The co announces it has been awarded a contract from the State of Louisiana's Department of Natural Resources to design, implement and oversee the State Energy Program and the Energy Efficiency and Conservation Block Grant Program. Both programs are funded through the American Recovery and Reinvestment Act. The amount included in Shaw's Environmental & Infrastructure segment's backlog of unfilled orders in the second quarter of fiscal year 2010 was undisclosed.
09:03
AQQ American Spectrum Realty reports sale of Houston office property for $5.2 mln (18.50 )
Co announced the sale of 5850 San Felipe on March 31, 2010. 5850 San Felipe, a 101,880 square foot office property, is located in the Galleria area of Houston, Texas. The sale generated proceeds of ~$5.2 mln. The proceeds will be used to reduce debt, payables and other investments. The transaction generated a gain on sale before income tax expense of ~$4.4 mln. The gain will be recognized in the first quarter of 2010.
09:03
IRBT IRobot Announces Manufacturing Services Agreement with Jabil (15.10 )
Co announces that it has entered into a manufacturing services agreement with Jabil Circuit (JBL). Under the terms of the agreement, Jabil will provide various services to iRobot, consisting of manufacturing, testing and supplying iRobot's consumer products, including the iRobot Roomba floor vacuuming robot.
09:02
RADA RADA Electronic Industries has signed a $1 mln contract to deliver advanced video recording and debriefing systems for the Chilean Air Force (2.58 )
Co announces that it has signed a $1.0 mln contract with the Chilean Air Force to produce and deliver its advanced airborne video and data recording system as well as ground debriefing systems for installation onboard FACH F-16 aircraft. The contract was signed during the FIDAE 2010 International Air and Space Fair at Santiago de Chile.
09:02
CHLN China Housing & Land reports Q1 contract sales ~flat QoQ and up ~170% YoY to $42.3 mln (3.81 )
Co reports that during Q1, contract sales totaled RMB 289.1 mln (US$42.3 mln) of residential and commercial unit sales as well as parking space sales for a total of 58,248 square meters. This compares to contract sales of RMB 288.9 mln (US$42.5 mln) and 61,787 square meters sold in 4Q09 and contract sales of RMB 107.2 mln (US$15.6 mln) and 22,358 square meters sold in the first quarter of 2009. 1Q10 contract sales are primarily derived from the co's JunJing II Phase One, Phase Two and Puhua Phase One Projects. The co's average residential selling price per square meter in the first quarter of 2010 was RMB 5,099, which is a 9% sequential increase over the residential selling price of RMB 4,635 in the 4Q09 and 6% residential selling price increase compared to RMB 4,797 in the first quarter of 2009. Co's residential sales in the first quarter of 2010 totaled 2.37 mln square meters for an average selling price of RMB 5,521, a 58% decrease in sales volume and 11% increase in price compared to fourth quarter 2009 results of 5.6 mln square meters in sales for an average selling price of RMB 4,996 per square meter. This performance reflects a 37% increase in sales volume and 23% increase in price compared with first quarter 2009 results of 1.7 mln square meters for an average price of RMB 4,496 per square meter. "Importantly, average sale prices [QoQ] remain on the rise. We view this as a positive indicator that the market in which we operate is stable. Our two major projects -- JunJing Phase Two and Puhua Phase One -- sold well in the first quarter. We are optimistic that we'll continue to see stabilized volume and average sales price growth which bode well for our two major projects as well as for several other major projects scheduled for development and pre-sales later this year."
09:01
ALB Albemarle will increase prices of ETHACURE 100 and FIRSTCURE curatives by 10% globally on shipments after May 1, 2010, or as contracts allow (43.16 )
09:00
TDSC 3D Systems acquires Design Prototyping Technologies (14.31 )
Co announces that it has acquired Design Prototyping Technologies, a provider of fast turnaround high quality functional parts and prototypes.
09:00
BAX Baxter and Nycomed announce FDA approval of TachoSil (58.26 )
Co and Nycomed today announced the FDA approval of TachoSil for use as an adjunct to hemostasis in cardiovascular surgery.
08:44
TNK Teekay Tankers announces offering of 7.7 mln shares of class A common stock at $12.25/share (13.04 )
Co announced that it has priced its follow-on public offering of 7.7 mln shares of class A common stock at $12.25 per share. The co expects to use the net offering proceeds - together with a concurrent issuance to Teekay Corporation (TK) of ~2.6 mln unregistered shares of class A common stock at $12.25 per share and borrowings under the co's revolving credit facility for the balance - to acquire three oil tankers from Teekay Corporation for aggregate consideration of ~$168.7 mln.
08:40
On The Wires
Optimer Pharmaceuticals (OPTR) announced that data from the fidaxomicin Phase 3 clinical studies will be presented at the 20th annual European Congress of Clinical Microbiology and Infectious Diseases... Wipro Technologies, the global IT services business of Wipro (WIT) announced that it has signed a partnership agreement with Philips to offer Blu-ray middleware and solution development services around Philips' developed Blu-ray technology... Integral Systems (ISYS) announced the dismissal of the Vidmar class action litigation... Gulf Resources (GFRE) announced that the its subsidiary Shandong Yuxing Chemical Industry has passed the Class 1 supplier audits of China Petroleum & Chemical Corporation (SNP) and PetroChina (PTR) for the fifth and seventh consecutive year, respectively... E*TRADE (ETFC) introduced E*TRADE Mobile Pro for iPad - providing access to customers' brokerage and bank accounts, real-time market news and information, and the ability to trade stocks on Apple's newest device... AVANIR Pharmaceuticals (AVNR) announced it will present three scientific posters featuring detailed Zenvia safety and efficacy data from the double-blind phase and the open label extension of the Phase III confirmatory STAR trial at the American Academy of Neurology... RXi Pharmaceuticals (RXII) and TransDerm announced that they will collaborate on studying the potential utility of RXi's proprietary compounds in dermatology models. Under the collaboration, the parties will explore the use of both existing and proprietary delivery approaches for dermatological applications.
08:36
RDEA Ardea Biosciences announces offering of 3.5 mln shares of common stock (21.76 ) -Update-
08:34
WATG Wonder Auto Tech raises guidance above consensus (10.85 ) -Update-
WATG reports that Q1 revs will exceed $63 mln, above the $58.63 mln Thomson Reuters consensus. The co sees Q1 net income exceeding $7.3 mln, vs the $6.24 mln consensus. These operating results reflect a year-over-year organic growth rate of above 57% and 40% for revenue and net income growth, respectively. The company's strong operating results were achieved due to better-than- expected sales activity and margin performance in combination with a continuing resurgence in China's macro economy. In particular, a high growth rate in China's onshore auto sales had a positive impact on Wonder Auto's results. Based on visibility in business condition, the Company expects such favorable macro economic conditions relating to China's on shore auto sale environment to continue. "Wonder Auto's first quarter results are not only the result of outstanding organic performance, but are also the result of significant expansion in the auto safety business and alternative energy vehicles components business. We believe these favorable dynamics, in addition to renewed strength in China's onshore auto market, point to a highly favorable operating environment for Wonder Auto in 2010 and following years. Wonder Auto's performance, as well as aggregate China auto market statistics, corroborate long-term growth trends in the Chinese automotive market, as compared to short-term behavior from the 2009 Chinese government stimulus. We see multiple signs of a continuing resurgence in the Chinese automotive market attributable to strong onshore consumer behaviors."
08:33
AUTC AutoChina International announces $500,000 recent share purchase by CFO Jason Wang (32.08 )
08:31
CERS Cerus and Oxford Finance enter into $10 million growth capital credit facility (3.25 )
Co announces that it has secured a $10 million growth capital credit facility from Oxford Finance Corporation. The credit facility provided a $5 million loan to Cerus upon closing, which occurred on March 31, 2010, and allows Cerus to draw an additional $5 million between September 30, 2010 and December 31, 2010. The credit facility is secured by Cerus' assets other than intellectual property.
08:31
SA Seabridge Gold plans to spend ~$15 million this year to advance its 100% owned Courageous Lake gold project (25.85 )
Co announces that it plans to spend approximately $15 million this year to advance its 100% owned Courageous Lake gold project towards a National Instrument 43-101 compliant Preliminary Feasibility Study. The main objective of the program is to conduct further diamond drilling designed to upgrade a substantial portion of the existing inferred resource at the project to the measured and indicated resource categories.
08:30
GBG Great Basin Gold Obtains US$47 Million Credit Facility (1.78 )
Co announced that it has obtained final Credit approval for a US$47 million export finance facility, with the option to increase the facility through further syndication. The facility will be provided by Credit Suisse Ag and will have a maximum term of 4 years from date of draw down, with interest and capital repayment commencing 9 months after draw down. The facility will bear interest at a margin of 4% over the USD LIBOR rate (currently 0.3%). The Company will have the option to retire the loan 12 months after draw down at no additional costs. The Burnstone project will be the guarantor for the facility. The facility is only subject to the execution of customary loan and security documentation and includes conditions precedent usual for facilities of this nature. Execution of binding documentation and funding is targeted for on or before April 30, 2010.
08:27
MTH Meritage announces cash tender offers for certain senior unsecured notes (21.29 ) -Update-
Co announces the commencement of cash tender offers to purchase up to $195 million principal amount of selected senior notes. In the Dutch Auction Tender Offer, Meritage is offering to purchase up to $65,000,000 of its outstanding 6.25% Senior Notes due 2015.
08:21
MTH Meritage announces preliminary Q1 revs ahead of consensus; with backlog up 4.7% YoY (21.29 )
Co issues upside guidance for Q1 (Mar), sees Q1 (Mar) revs of ~$201 mln vs. $193.96 mln Thomson Reuters consensus, on 808 homes with an average price of ~$248,000 for the first quarter of 2010, and $268 mln in net sales on 1,064 homes with an average price of ~$252,000, after an 18% cancellation rate during the quarter. These results compared to closing revenue of $231 mln on 932 homes with an average price of ~$248,000 the first quarter of 2009, and $232 mln in net sales on 987 homes with an average price of ~$235,000, after a 26% cancellation rate in the quarter a year ago. Ending backlog at March 31, 2010, is estimated to be valued at $355 mln for 1,351 homes under contract, compared to $339 mln for 1,336 homes under contract at March 31, 2009. "The 2010 spring selling season started out better than last year, with sales increasing sequentially each month throughout the first quarter of 2010, although our expectations coming into the quarter were more optimistic. The extended and expanded home buyer tax credit didn't appear to positively impact our sales in the first quarter as much as we'd hoped. Also, by comparison to last year, the abnormally wet and cold winter weather we experienced during the quarter also took a toll on both our sales and closings, but we remain confident in our ability to achieve our goal of returning to profitability in 2010."
08:21
MTH Meritage launches private placement of $200 mln senior unsecured notes (21.29 ) -Update-
08:16
On The Wires
Target (TGT) announced that its indirect wholly owned subsidiary, Target Receivables, has commenced a tender offer to purchase for cash any and all of the outstanding Floating Rate Class A Asset Backed Notes listed below, issued by Target Credit Card Owner Trust 2005-1, a Delaware statutory trust... Nexstar Broadcasting Group (NXST) announced that Nexstar Broadcasting, Inc., its wholly-owned subsidiary, has commenced a cash tender offer and consent solicitation with respect to Nexstar Broadcasting's outstanding $42,628,179 aggregate principal amount of Senior Subordinated PIK Notes due 2014... Perceptron (PRCP) announced that it recently signed a supply agreement with a new Partner under which Perceptron will supply new visual inspection products specifically designed for professional trades and/or for the Do-It-Yourself homeowner market. The agreement is the third new Partner supply agreement the Company has signed in recent months. Pantone LLC, an X-Rite company (XRIT) announced the myPANTONETM X-Ref iPhone application and Web tool that let graphic, digital, multimedia, fashion, interior and industrial designers easily cross-reference all PANTONE Color Libraries... W. R. Grace & Co. (GRA) announced a new multi-year agreement to supply polypropylene catalysts to Borealis AG, a leading provider of chemical and innovative plastics solutions. Financial terms were not disclosed... LogMeIn (LOGM) announces the release of LogMeIn Ignition for iPhone/iPad, noting iPad owners can now join iPhone and iPod touch users in having one-touch access to all of their information.
08:16
ZANE Zanett says it has set an in-house corporate record for contracts signed in a single quarter (1.84 )
Co announces that it has set an in-house corporate record for contracts signed in a single quarter since the Company was founded over 10 years ago. During the first 3 months of 2010, over $17.1 million dollars in new business has been closed. This amount is comprised of 57 different customers, with the largest customer being responsible for a $4 million mandate. The $17.1 million in deal closings currently reported for Q1 includes the earlier reported $12.0 million comprising of business closed in January and February 2010.
08:11
NEWL NewLead Holdings Ltd. announces dropdown of six vessels and ship management company (0.78 )
Co announced it has completed the dropdown of six vessels (four drybulk vessels and two product tankers) and Newlead Shipping S.A., an integrated technical and commercial management company, from Grandunion Inc. In connection with this transaction, NewLead transferred to Grandunion 8,844,444 shares of NewLead's common stock and assumed existing liabilities. Michael S. Zolotas, President and CEO of NewLead Holdings Ltd., stated, "The successful closing of this transaction is another step in transforming NewLead Holdings. The six vessels have quality time charters and are expected to add ~$19.4 mln in EBITDA annually."
08:05
KOG Kodiak Oil & Gas acquires 5,500 net acres of Williston Basin leasehold prospective for Bakken and Three Forks Oil Production (3.73 )
Co announces that it has closed on two separate definitive purchase and sale agreements to acquire additional Williston Basin leasehold. In the first transaction, Kodiak acquired 5,680 gross mineral acres (4,531 net) in McKenzie County, N.D. The lands are located on the border of McKenzie and Williams Counties west of the Nesson Anticline, and offset existing Bakken and Three Forks producing wells successfully drilled and completed by other operators such as Newfield Exploration, Continental Resources and Brigham Exploration.
08:02
ARW Arrow Elec acquires Converge and Verical; acquisitions are expected to be accretive to earnings by $.05 to $.10 per share annually post closing of the Converge transaction (30.80 )
Co announced agreements to acquire Converge, a provider of reverse logistics services, and Verical, Inc., a ecommerce marketplace geared toward meeting the end-of-life components and parts shortage needs of customers. Converge, with 350 employees, is headquartered in Peabody, Mass., with offices in Singapore and Amsterdam, including support centers throughout Europe, Asia and the Americas. Verical is based in San Francisco. The acquisitions are expected to be accretive to earnings by $.05 to $.10 per share annually post closing of the Converge transaction. The Converge deal is subject to regulatory approvals and is anticipated to close in May 2010, while the Verical acquisition has been completed.
08:01
DDRX Diedrich Coffee: GMCR extends its previously announced $35.00 per share cash tender offer for DDRX by 20 days to May 3 (34.81 )
Green Mountain (GMCR) announces that Pebbles Acquisition Sub, a wholly owned subsidiary of GMCR, has extended its previously announced $35.00 per share cash tender offer to purchase all outstanding shares of common stock of Diedrich Coffee. In accordance with the terms of the merger agreement among GMCR, Purchaser and Diedrich Coffee, the tender offer has been extended 20 business days (the maximum number of days permitted under the merger agreement) to expire at midnight EST, on Monday, May 3, 2010, unless further extended. The tender offer previously was scheduled to expire at midnight, EST, on Monday, April 5, 2010. All other terms and conditions of the tender offer remain unchanged.
08:01
DIET eDiets.com announces $5,275,000 registered direct offering of common stock at $1.00/share (1.42 )
Co announces the pricing of its $5,275,000 registered direct offering of common stock. The Company has entered into subscription agreements with certain investors to purchase 5,275,000 shares of its common stock in a registered direct offering at a price of $1.00 per share.
08:01
SXE Stanley awarded $126 Million U.S. Army Field and Installation Readiness Support Team task order to support field logistics readiness center (29.09 )
08:00
IGOI iGo Announces Completion of Review of Strategic Alternatives; to continue executing its existing business plan (2.06 )
Co announced that its Board of Directors has concluded its review of strategic alternatives and has determined that the most appropriate course of action for maximizing shareholder value is for the Company to continue executing its existing business plan. The Company announced in March 2009 that its Board had initiated a process to identify and consider strategic alternatives. The Board had retained Needham & Co. as its financial advisor for the review of strategic alternatives.
08:00
PURE PURE Bioscience receives U.S. EPA registration for SDC-based disinfectant and food contact surface sanitizer (1.63 )
07:39
On The Wires
Maker's Mark, one of Fortune Brands' (FO) spirits brands, has won a judgment confirming that its free-form red wax seal coating is a well-known and valid trademark... Lionsgate (LGF), the leading next generation studio, and Saban Capital Group, the investment firm specializing in the media, entertainment and communications industries, announced that they have formed an equal partnership to operate and manage Tiger Gate, an operator of pay television channels and a distributor of television programming and action and horror films across Asia. Financial terms of the transaction were not disclosed... Main Street Capital (MAIN) announced a new portfolio investment in Currie Acquisitions, dba Currie Technologies. Main Street made a $6.5 mln total investment in Currie Technologies in support of the co's growth initiatives... CGI Group (GIB) announced a 3-year agreement with Telekomunikacja Polska Group, a Polish leading telecommunications provider, for application support and services... Tyler Technologies (TYL) announced that the Contra Costa County Office of Education, has signed a contract to invest in Tyler's Munis Enterprise Resource Planning solution... EMCOR Group (EME) announced that its University Mechanical & Engineering Contractors subsidiary has been awarded a contract for the installation of mechanical systems at Caris Life Sciences, a division of Caris Life Sciences... The Talbots (TLB) is extending its offer to exchange each outstanding warrant to acquire shares of common stock of BPW Acquisition (BPW) for shares of Talbots common stock or warrants to acquire shares of Talbots common stock.
07:32
APC Anadarko Petro announces successful pre-salt flow test offshore Brazil (74.74 )
Co announces the results of the Wahoo#1 drillstem test in the pre-salt Wahoo field located on block BM-C-30 in the deepwater Campos Basin offshore Brazil. The Wahoo#1 well flowed at a sustained test rate of approximately 7,500 barrels per day of 31-degree API gravity crude oil and approximately 4 million cubic feet per day of associated natural gas. The flow rate was limited by equipment and facilities.
07:32
MNRO Monro Muffler announces increase in quarterly cash dividend for fiscal 2011 to $0.09/share from $0.07/share (36.21 )
07:31
STST Argon ST awarded next phase of DARPA Robust Surface Navigation program (26.74 )
07:31
CPBY China Information Security Technology selected by the State Grid Corporation of China as Sole Domestic GIS Provider for Smart Grid (5.32 )
Co announced that the State Grid Corporation of China selected the Company's proprietary GeoStar and GeoGlobe geographic information systems as one of its only two suppliers for the build-out of the nationwide Smart Grid in China. CIST is the only domestic Chinese supplier. The other supplier is ESRI, a US company.
07:30
AMSC Am Superconductor receives $20 mln order for wind turbine electrical control systems from India's Ghodawat Energy (28.82 )
Co announces that it has received an initial order for full wind turbine electrical control systems worth more than US$20 million from Ghodawat Energy. Under the terms of the contract, AMSC will begin shipping the electrical control systems to Ghodawat in the middle of calendar 2010 and will complete all shipments by the end of calendar 2013 at the latest.
07:30
TSTY Tasty Baking enters into agreement to sell Hunting Park Bakery as well as its former offices and distribution center (7.19 )
Co announces that it has entered into a Purchase and Sale Agreement with TKMG Associates and its guarantor, Metro Development Company, for the sale of Tasty Baking Company's Philadelphia bakery property and its former corporate offices and distribution center for $6.0 million. These are the properties that the Company is vacating in connection with its move to the Philadelphia Navy Yard.
07:22
KGN Keegan Resources reports assessment results of its 90% owned Esaase Gold Project (6.32 )
Co announces the results of the Preliminary Economic Assessment Study of its 90% owned Esaase Gold Project. The Study was completed by Lycopodium Minerals and Coffey Mining using a base case Indicated Mineral Resource of 2.28 mln ounces of gold (58.0 mln tonnes grading 1.2 g/t gold at a cut-off grade of 0.4 g/t which relates to the economic cut-off in the Study) and Inferred Mineral Resource of 1.65 mln ounces of gold (41.7 mln tonnes grading 1.2 g/t gold at the same cut-off grade). Using a base case gold price of $850 per ounce, the Study shows that the Project has a net pre-tax cash flow (undiscounted) of $397 mln with an after tax Net Present Value (NPV) of $168 mln using a 5% discount rate. The mine would recover 1.98 mln ounces of gold at a waste to ore strip ratio of 3.5 to 1 over a 10-year mine life.
07:19
On The Wires
USA Technologies, Inc. (USAT) has increased the devices connected to its network to over 73,000 as of March 31, 2010 compared with the 71,000 devices in its strategic plan... NextGen Healthcare Information Systems, wholly owned subsidiary of Quality Systems (QSII) announced an agreement with Mercy Health System to deploy NextGen EHR (Electronic Health Record) and NextGensm Health Information Exchange... Aruba Networks (ARUN) announced that its adaptive 802.11n wireless LAN access point is the first ever to receive accreditation from the U.S. Army's Office of Information Assurance and Certification and inclusion on the Army's Information Assurance Approved Products List... Orbitz Worldwide (OWW) announced a multi-year partnership with iSeatz to develop customized private label and in-path travel solutions.
07:17
MEE Massey Energy: Update from Massey Energy on Upper Big Branch (54.69 )
The co is confirming twenty-five fatalities at its Upper Big Branch Mine, resulting from a tragic explosion. Additionally, two miners were transported earlier to hospitals and four miners are still missing at this time. Rescue efforts are currently suspended due to conditions underground. Rescue efforts will resume as soon as conditions allow. Massey Chairman and CEO Don Blankenship is on site at the Upper Big Branch mine. Senior Vice President and Chief Operating Officer Chris Adkins and Vice President of Safety & Health, Elizabeth Chamberlin are coordinating Massey's search and rescue efforts with State and Federal officials.
07:15
BTU Peabody Energy released response to a Noble Group press release challenging Peabody's proposal for Macarthur Coal Limited (46.02 ) -Update-
Peabody Energy released response to a Noble Group press release challenging Peabody's proposal for Macarthur Coal Limited. "Noble Group's press release today takes an oddly personal tone, complaining of holiday work and Australian credentials. What it doesn't do, though, is lay out any convincing evidence that Noble's transaction is adequate. That's because Peabody's bid is clearly superior, but it would upset Noble's deal whereby Noble would acquire a significant board presence and nearly a quarter of Macarthur shares at a bargain-basement discount to the current market value... Peabody's offer is significantly above the price at which Noble would acquire both Macarthur shares and the opportunity to obtain a blocking interest to any other offer for Macarthur. We again urge Macarthur's board to delay the 12 April shareholder vote on the Gloucester/Noble transaction, and instead give Macarthur shareholders the opportunity to consider Peabody's superior proposal for Macarthur Coal.
07:02
ORN Orion Marine announces a contract award of ~$21 mln; construction is expected to commence during Q2 2010 and last ~9 months (17.79 )
07:01
ICFI ICF International reports on final distribution of CM Equity Partners' Holdings to its limited partners (25.36 )
Co announces that CM Equity Partners, a private equity firm holding approximately eight percent of ICF's outstanding common stock, reported its fifth and final distribution of ICF common stock. Following this distribution of approximately 1.565 million ICF shares, CM Equity Partners and its affiliated partnerships will no longer hold any of ICF's common stock.
07:01
TAROF Taro Pharmaceutical Ind. receives patent for T2007, the co's second proprietary non-sedating Barbiturate drug (13.30 )
Co announced that the U.S. Patent and Trademark Office has issued United States Patent No. 7,683,071 covering T2007. The patent, entitled "Composition and method for improved bioavailability and enhanced brain delivery of 5,5-diphenyl barbituric acid," is for one of a class of non-sedating barbiturate compounds currently in development by the Company.
07:00
EFJI EFJ Receives $4.5 mln in orders to support the DoD Advanced Metering Infrastructure program (0.94 )
Co announcesthat its 3e Technologies International subsidiary has received orders valued at $4.5 million from U.S. Department of Defense prime contractors to deliver its FIPS 140-2 Validated secure wireless mesh products in support of the Advanced Metering Infrastructure program. The orders call for the co to deliver its products for deployment across many DoD locations.
07:00
07:00
DCO Ducommun announces contract from Boeing to support F/A-18 cockpit pressure warning system upgrade (21.93 )
Co announced that its Ducommun Technologies subsidiary, a long-time supplier of F/A-18 cockpit display products, has received the second installment of a multi-phased contract from The Boeing Company (BA). The contract is for the retrofit of the Caution Light Panels (CLPs) on the F/A-18 fighter aircraft, as part of the U.S. Navy Caution Panel Warning System Upgrade Initiative.
07:00
RBC Regal-Beloit acquires CMG Engineering Group Pty. Ltd. (61.07 )
Co announces it has acquired CMG Engineering Group headquartered in Melbourne, Australia. CMG manufactures and distributes fractional horse power industrial motors, blower systems, and industrial metal products with operations in Australia, New Zealand, South Africa, Malaysia, Singapore, the United Kingdom, and the Middle East. The purchase price was approx $75 mln in cash, the assumption of approx $5.5 mln in net liabilities and one hundred thousand shares of Regal Beloit Common Stock. The business is expected to add approx $92 mln to sales and add $0.04 to diluted earnings per share in 2010. The Company's guidance includes the estimated impact of transaction costs, purchase accounting and intangible amortization based on the preliminary purchase price allocation. Sales for CMG in 2011 are expected to be approx $128.0 to $135.5 million and the addition to diluted earnings per share are expected to be $.12 to $.15 for the business, including the dilutive impact of additional shares issued.
06:49
VRX Valeant Pharmaceuticals announced its plans to offer, subject to market and other conditions, $350 mln principal amount of senior unsecured notes (44.05 )
06:38
S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -6.30.
06:38
Asian Markets
Nikkei...11282.32...-57.00...-0.50%. Hang Seng...Holiday.........
06:38
European Markets
FTSE...5777.75...+32.90...+0.60%. DAX...6248.27...+12.50...+0.20%.
06:32
SNIC Sonic Solutions and Dolby streamline Dolby TrueHD production for blu-ray disc (9.76 )
The co and Dolby Laboratories (DLB) announces that Sonic Solutions has integrated Dolby's professional Dolby TrueHD audio stream editing tools within Scenarist, Sonic's authoring system for commercial Blu-ray Disc production.
06:31
MKTX MarketAxess announces monthly volume statistics for March 2010 (16.00 )
Co announces total monthly trading volume for March 2010 of $37.7 billion, consisting of $23.0 billion in U.S. high-grade volume, $5.2 billion in eurobond volume, and $9.5 billion in other volume.
02:39
CRXL Crucell N.V. announces collaboration with GlaxoSmithKline Biologicals on second generation malaria vaccine candidate (20.49 )
Co announces that it has signed a binding letter of agreement with GlaxoSmithKline Biologicals (GSK) to collaborate on developing a second generation malaria vaccine candidate. Pre-clinical data from earlier studies indicated significantly enhanced immune responses against the malaria parasite (circumsporozoite stage of the Plasmodium falciparum) when Crucell's Adenovirus (AdVac) technology and GSK's RTS,S/AS technology are used in combination, vs either component alone. Under the terms of the letter of agreement, Crucell will contribute its recombinant malaria vaccine candidate, Ad35-CS, based on Crucell's AdVac technology and PER.C6 manufacturing platform and GSK will contribute its late stage malaria vaccine candidate RTS,S/AS. Financial details of the agreement were not disclosed.
01:09
On The Wires
Communications & Power Industries, a subsidiary of CPI International (CPII), has been awarded a five-year indefinite-delivery/indefinite-quantity contract by Harris (HRS) to support the U.S. Navy's Commercial Broadband Satellite Program... Bank of the Ozarks (OZRK) increases quarterly dividend $0.01 to $0.15/share; record date is 4/16/10... EnergySolutions (ES) announces that the State of Utah, Department of Environmental Quality's analytical results from the independent sampling of 171 barrels of Depleted Uranium from Savannah River Site are well below limits set by the State of Utah for Technetium-99... Savvis (SVVS) signs a contract to provide managed services for 70 of All Nippon Airways corporate Web sites... Massey Energy (MEE) confirms twenty-five fatalities at its Upper Big Branch Mine, WV resulting from an explosion... Avnet (AVT) acquires certain assets of PT Datamation Purwana Utama and PT Mitra Bisinfo Utama of Indonesia; acquisition is expected to be immediately accretive to earnings.
01:04
TCK Fitch assigns initial 'BBB-' rating to Teck Resources; outlook stable (46.05 )
01:02
VMI Valmont Industries issues upside revenue guidance for Q1, reaffirms FY10 earnings would be ~25% lower than 2009 before impact of proposed Delta transaction (86.35 )
Co issues upside guidance for Q1 (Mar), sees Q1 (Mar) revs of $365.0 mln vs. $356.44 mln Thomson Reuters consensus. Q1 operating income is expected to range between $29.5 and $31.5 million, including approx $2.2 million in expenses related to the pending acquisition of Delta, plc that reduced Q110 operating income. Co reaffirms its expectations that FY10 earnings would be ~25% lower than 2009 before the impact of the proposed Delta transaction.
00:48
BTU Peabody Energy raises bid for Macarthur Coal (46.02 )
Co submits a revised proposal to acquire a controlling interest in Macarthur Coal (ASX: MCC). Under Peabody's revised non-binding proposal, Macarthur shareholders would receive a cash price of A$14.00 per share. Peabody has also reduced the conditionality of the proposal. While Peabody continues to offer alternatives to the three major shareholders to retain their original interest in Macarthur, Peabody's offer is not contingent on their commitment provided the Macarthur Board supports our proposal.
00:46
RDEA Ardea Biosciences announces proposed public offering of common stock; amount not disclosed (21.76 )
17:47
Futures are mixed after hours with S&P 500 futures 0.26 points above fair value of 1183.34 and Nasdaq 100 futures 1.3 points below fair value of 1975.55
17:40
INDXCH The Dress Barn (DBRN) will replace Terra Industries (TRA) in the S&P MidCap 400 index
NorthWestern (NWE) will replace The Dress Barn in the S&P SmallCap 600 index after the close of trading on Friday, April 9. Terra Industries is being acquired by S&P 500 constituent CF Industries Holdings (CF) in an exchange offer expected to be completed on or about that date, pending final results.
17:22
DRC Dresser-Rand selected to supply over $120 mln of advanced turbomachinery for four FPSO's destined for the pre-salt oil fields offshore Brazil and the UK's North Sea (32.63 +0.51)
Co announced that it will supply advanced turbomachinery to three different Clients for four floating, production, storage and offloading (FPSO) vessels, three of which are destined for Petrobras' pre-salt oil fields in the Santos Basin offshore Brazil and one for the UK sector of the North Sea. Dresser-Rand will supply 14 centrifugal compressor trains comprising eighteen (18) casings, two DR-61G (LM2500) mechanical drive gas turbines and four DR-61GP (LM2500+) gas turbine generator sets for these projects. The total price for the scope being supplied exceeds $120 million. The compressor trains will be manufactured in Le Havre, France and Olean, NY; the gas turbine generator sets will be engineered by Dresser-Rand's Kongsberg gas turbine packaging center of excellence. Dresser-Rand booked these orders in March 2010.
17:21
BNCL Beneficial Mutual Bancorp announces the departure of CFO (9.82 +0.40) -Update-
Beneficial Mutual Bancorp (BNCL), the parent company of Beneficial Bank (the "Bank"), today announced that Joseph F. Conners, Executive Vice President and Chief Financial Officer, has advised the Company that he is leaving the Company and the Bank to pursue other opportunities effective March 31, 2010.
17:20
ATNI Atlantic Tele-Network: Stimulus grant will allow commnet wireless to advance rural broadband wireless (45.12 +0.12)
Atlantic Tele-Network aubsidiary will deploy 4G service in partnership with Navajo Tribal Utility Authority. Co announced as part of a $32.1 million stimulus grant, Atlantic Tele-Network, Inc. (NASDAQ: ATNI) subsidiary Commnet Wireless, LLC will develop and operate a 4G Long Term Evolution (LTE) wireless network covering areas and residents of the Navajo Nation. The project represents a significant step forward in the national effort to bring vital, high-speed wireless services to underserved rural areas.
17:19
NABI Nabi Biopharmaceuticals prevails in opposition to drug abuse therapy patent (5.40 -0.09)
Co announced that the European Patent Office (EPO) upheld the Co's opposition to European Patent No. 1,329,226 (Hapten Carrier Conjugates for Use in Drug Abuse Therapy) requesting revocation of this patent. The EPO revoked this patent in its entirety.
17:14
EP El Paso Corporation receives FERC approval for Ruby pipeline (11.48 +0.30)
Co approval for its Ruby Pipeline project. Ruby is a 675-mile, 42-inch interstate natural gas pipeline that will access significant Rockies supplies and make them available to consuming markets in California, Nevada and the Pacific Northwest. Ruby will transport natural gas from an existing supply hub at Opal, Wyoming, to interconnections near Malin, Oregon. It will have an initial design capacity of up to 1.5 billion cubic feet per day. Pending receipt of rights of way from the Bureau of Land Management, construction of the $3 billion project is scheduled to begin in late spring 2010, and it is scheduled to be in service in March 2011. El Paso has entered into agreements with Global Infrastructure Partners (GIP), whereby GIP will invest up to $700 million in the Ruby project. Upon satisfaction of various closing conditions, GIP will acquire a 50% equity interest in the project.
17:06
BKH Black Hills and Department of Energy reach agreement for smart grid funding (31.19 +0.34)
Co announced that it has successfully reached agreement with the Department of Energy for smart grid funding through grants totaling $20.7 mln for its electric utility subsidiaries, Black Hills Energy - Colorado Electric, Black Hills Power and Cheyenne Light, Fuel & Power. The funds are made available under the American Recovery and Reinvestment Act of 2009 and, combined with matching investments from the Black Hills electric utilities, enable the installation of about 149,000 smart meters and related infrastructure investments. Specifically, the DOE award agreements provide Black Hills Energy - Colorado Electric with ~$6.1 million in matching funds for the installation of up to an additional 42,000 smart meters and communications infrastructure that will automate meter reading and enable a direct load control pilot program in its southern Colorado service area.
17:04
CFW Cano announces mid-year fiscal 2010 reserves (1.24 )
Co announced the results of a mid-year Fiscal 2010 Reserves review as prepared by Haas Petroleum Engineering Services, Inc. (Haas), its new independent petroleum engineer. Haas prepared 100% of the reserves for the properties. The Company replaced approximately 300% of estimated mid-year 2010 fiscal year production of 197.5 MBOE at an estimated reserve replacement cost of $15.84/BOE (including extensions and discoveries, excluding asset sales and production, and capital expenditures of $9.4 million). Over a two-and-one-half-year period, Cano had an estimated reserve replacement cost of $16.30/BOE. Haas estimates Cano's proved oil and gas reserves at December 31, 2009 to be 43.0 MMBOE, of which Proved Developed reserves were 8.8 MMBOE, down 6.3% as compared to 10.1 MMBOE at June 30, 2009, including property sales (510.6 MBOE) and production (197.5 MBOE).
17:02
KBR KBR acquires Energo Engineering (22.82 +0.14)
Co announced that it has acquired Houston-based Energo Engineering. Energo provides Integrity Management and advanced structural engineering services to the offshore oil and gas industry. Energo will be integrated into KBR's Granherne subsidiary, which will enable that business to expand its capabilities worldwide as well as support FEED and detailed design projects.
17:00
BBT BB&T denies an April 1 statement by an administrative law judge that it somehow "aided" a fraud scheme (42.33 +1.43)
Co denies an April 1 statement by an administrative law judge that it somehow "aided" a fraud scheme at the North Carolina mountain development known as Village of Penland. To the contrary, BBT was a victim of the fraud which took place at the Village of Penland and, as previously disclosed, lost $20 mln. BBT would have incurred even greater losses had the situation continued. When BB&T was made aware of allegations involving the Village of Penland, BB&T launched an extensive investigation into the matter and provided substantial material to appropriate authorities. In addition, BB&T made numerous efforts to inform other financial institutions which were also victimized. BB&T and its Code of Ethics require all employees to report any violations of law and unethical behavior.
16:36
PCTI PC-TEL announces reorganization; will increase its focus on lowering manufacturing costs and hopes to reduce the overhead (6.27 +0.04)
Co announced that it would establish two company-wide functional organizations to implement the company's mission. Effective immediately, Jeff Miller, who has led PCTEL's Antenna Product Group will now manage the entire company's sales, marketing, and product management activities as Senior Vice President, Sales and Marketing. His counterpart, Tony Kobrinetz, who joins PCTEL today, will lead the company's development and operations as Vice President, Technology and Operations. In moving to this structure, PCTEL will increase its focus on lowering manufacturing costs across the entire company, building upon its engineering capabilities, and establishing a strong product management and sales culture. The company also hopes to reduce the overhead associated with operating distinct product groups.
16:35
TLVT Telvent announces proposed $175 mln offering of senior subordinated convertible notes due 2015 (29.42 +1.17) -Update-
16:34
AMR AMR Corp: American Airlines reports March tTraffic (8.85 -0.18) -Update-
Co reported a March load factor of 81.7%, an increase of 2.6 points versus the same period last year. Traffic increased 2.5% and capacity decreased 0.7% year over year.
16:33
AMR AMR Corp: American Eagle Airlines reports March traffic (8.85 -0.18)
Co reported that March traffic increased 3.3% year over year as capacity increased 3.4%. March load factor was 71.9%, unchanged when compared to the same period last year.
16:31
TCHC 21st Century Holding announces $10 million capital infusion for Federated National Insurance Company (4.10 +0.03)
Co announces that Federated National Insurance Company, a wholly owned subsidiary of the Company, has received a capital infusion of $10 million. The transaction follows the previously announced notice from Demotech, a rating agency, requiring that FNIC obtain additional capital of $10 million by March 31, 2010 to maintain its "A" rating with the agency. The $10 million infusion consists of $5 million from 21st Century Holding Company and a $5 million Subordinated Surplus Debenture from American Vehicle Insurance Company, a wholly-owned subsidiary of the Company. The capital infusion has been approved by the Florida Office of Insurance Regulation, and Demotech has since affirmed FNIC's "A" rating... The acquisition of HomeWise is expected to be accretive to 21st Century upon close and is expected to generate approximately an additional $100 million in annual premiums on a consolidated basis.
16:27
ROSE Rosetta Resources announces a $200 mln sr unsecured notes offering (25.07 +0.90) -Update-
16:26
BEXP Brigham Exploration announces acceleration of its Williston Basin development drilling program to eight operated rigs and commencement of a public offering of 13 mln shares of common stock (17.96 +0.84) -Update-
Co announced commencement of a proposed underwritten public offering of 13,000,000 shares of common stock under its automatic shelf registration statement. Net proceeds from the offering are expected to be used primarily to fund an acceleration of Brigham's development drilling program on its core 161,900 net acres in the Williston Basin. Assuming completion of the offering, the co anticipates increasing its operated rigs running in the Williston Basin from four to eight by May 2011 and drilling a total of roughly 76 net Bakken and Three Forks wells during 2010 and 2011. In connection with the offering, the underwriters will have a 30-day option to purchase up to 1,950,000 additional shares of common stock. Assuming net proceeds of ~$213 mln from the proposed offering, BEXP anticipates that its 2010 exploration and development capital budget will be revised upward from $199 mln to $294 mln, which would include $267 mln in drilling and related production infrastructure expenditures and $27 mln in land and seismic expenditures. BEXP anticipates that the updated budget will fund 31.1 net horizontal Bakken and Three Forks wells in the Williston Basin in 2010, which would be drilled primarily in its core acreage positions in its Rough Rider and Ross project areas in Williams, McKenzie and Mountrail Counties, North Dakota. BEXP currently has four operating rigs running in the Williston Basin and assuming completion of the offering, anticipates adding a fifth operated rig in May 2010 and adding an incremental operated rig every four months thereafter until reaching eight operated rigs in May 2011. The revised 2010 drilling expenditure budget will also include two net wells in Brigham's South Texas Vicksburg play in Brooks County, Texas. In conjunction with the proposed offering, BEXP anticipates setting its initial 2011 exploration and development capital budget at $360 mln, which would include $348 mln in drilling expenditures and $12 mlnin land and seismic expenditures. In 2011, BEXP currently anticipates drilling 44.6 net Bakken and Three Forks wells in the Williston Basin primarily in its core acreage positions in its Rough Rider and Ross project areas.
16:19
BYI Bally Technologies drops 2.5 pts or 6%, following guidance, as it dips down to challenge the 39.00 area (42.33 +1.43) -Update- -Technical-
16:17
UWBK United Western Bancorp elects to defer interest payments on the company's trust preferred junior subordinated debentures (1.67 +0.12)
Co elected to defer regularly scheduled interest payments on all of the Company's outstanding junior subordinated debentures, totaling ~$30 million for a period of 20 consecutive quarters on each Security. The terms of the Securities and the indenture documents allow the Company to defer payments of interest for the Deferral Period without default or penalty. During the Deferral Period, the Company will continue to recognize interest expense associated with the Securities. Upon the expiration of the Deferral Period, all accrued and unpaid interest will be due and payable. During the Deferral Period, the Company is prevented from paying cash dividends to shareholders or repurchasing stock. The election to defer interest payments on the junior subordinated debentures will allow the Company to maintain a stronger cash and liquidity position.
16:16
LCC US Airways reports March traffic results (7.13 -0.27)
Co announced March and year-to-date 2010 traffic results. Mainline revenue passenger miles for the month were 4.9 billion, down 0.1% versus March 2009. Mainline capacity was 5.9 bln available seat miles, down 1.7% versus March 2009. Passenger load factor for the month of March was 83.2% , up 1.3 points versus March 2009.
16:16
BYI Bally Technologies sees FY10 EPS of $2.15-$2.25 (vs $2.42), down from previous range of $2.30-$2.55 (42.33 +1.43)
Co estimates the range of its EPS for the fiscal year ended June 30, 2010 (excluding the impact of the sale of Rainbow) will be $2.15-$2.25 per fully diluted share (vs $2.42 consensus), with the fourth quarter being stronger than the third quarter. This compares to its previous guidance of $2.30-$2.55 per fully diluted share. The co has revised guidance principally based on its expectations of the following: 1) slower than expected deployment of capital by customers thus far in calendar 2010; 2) the interruption of gaming in Alabama; and 3) lower-than-anticipated win per unit in Gaming Operations in the third quarter. Despite lower revenues than previously anticipated, gross-margin percents are expected to be within the normal ranges. The co now anticipates the range of systems revs to be $217-$223 mln for fiscal year 2010 versus the previous $220-$230 mln... The Company is currently working with its bank group to amend its existing credit agreement. The amendment would, among other things, increase the Company's allowable leverage ratio and remove the current limitations on restricted payments, including share repurchases, as long as the Company remains below certain leverage ratios. At the Company's current leverage ratio, there would be no restrictions under the proposed amendment. The amendment is expected to be completed by mid-April. Combined with approximately $80 million of cash on the Company's balance sheet at March 31, 2010, net cash expected from the Rainbow sale, availability under the Company's $75 million revolving credit facility, and the free cash flow generated from operations, the Company expects that this amendment will allow it to accelerate purchases under its current share repurchase program and have increased liquidity for other corporate purposes... The Company's Board of Directors has authorized a new $150 million share repurchase plan which replaced the previous plan.
16:11
ROSE Rosetta Resources maintains its previously disclosed full year production guidance at 145-155 MMcfe/d, excluding acquisitions and divestitures (25.06 +0.89)
Co provided an update on several operational matters, including updates on its Eagle Ford Shale, Alberta Basin Bakken program and its outlook on production volumes. Co said, "2010 is off to a strong start for ROSE. We have added acreage in both of our emerging shale plays, and taken measures to concentrate our operational footprint in the liquids-prone Gates Ranch area of the Eagle Ford. This will serve us well in carrying out our planned development program. Our Eagle Ford drilling results are exceeding expectations and our ongoing studies of the Alberta Basin Bakken opportunity continue to support our constructive view of that play"... Eagle Ford Shale Program: During Q1 of 2010, ROSE drilled or spud nine horizontal wells in the Eagle Ford Shale play. Seven wells are drilled to total depth, and two wells are currently drilling. The lateral length of the seven drilled wells averaged ~4,650 feet, roughly a 20% increase compared to ROSE's two 2009 horizontal wells. Three of the seven drilled wells were fracture-stimulated during Q1 using 12-14 frac stages per well. Two of the completed wells are on production and one is currently cleaning up. The other drilled wells are pending completion... Alberta Basin Bakken Oil Program: In the Alberta Basin, the Co continues to analyze and evaluate the core, log and production test data obtained from the 2009 drilled wells that were located across a large expanse of Rosetta's position in the play. As recently disclosed, these wells confirmed the presence of oil-saturated and over-pressured Banff, Bakken and Three Forks intervals, and an oil-saturated Nisku section. The Co remains very constructive on the play and continues to add acreage in the area. As of the end of the first quarter 2010, the Co acreage position stood at approximately 280,000 net acres, up more than 40,000 acres from year-end 2009... Capital and Production Outlook:The Co is on pace to execute its announced 2010 capital program of $280 mln. At this planned level of capital spending, the Co maintains its previously disclosed full year production guidance at 145-155 MMcfe/d, excluding acquisitions and divestitures. Given delayed access to rigs and services in Q1 of 2010, ROSE expects volumes to average 120-125 MMcfe/d for Q1, with ramp-up occurring in subsequent quarters during the year. The Co expects liquids production to grow significantly in 2010, reflecting results from the Eagle Ford program. In affirming its previous capital and production guidance, the Co also reiterated that it retains the discretion to adapt or adjust capital spending in response to commodity prices.
16:11
ISLE Isle of Capri: Bally Technologies announces enterprise-wide deal with Isle of Capri Casinos to provide full suite of systems (8.76 +0.71) -Update-
Bally Technologies (BYI) announced the award of an enterprise-wide deal with Isle of Capri Casinos, (ISLE) to install a full suite of Bally systems at Isle of Capri properties. Isle of Capri signed a master agreement for enterprise-wide installation of Bally's SDS slot-management system, and will select, based on individual property needs, from an array of Bally marketing, player communications, and media-management solutions including iVIEW player-interface displays; iVIEW Display Manager casino and employee server-based interface for the game display; Bally's Power Bonusing suite of bonusing, gaming, and promotions; and the CoolSign property-wide media management system.
16:07
TNK Teekay Tankers announces that it plans to offer 7,000,000 shares of Class A common stock of the co in a public offering (13.04 +0.05)
Co expects to use the net offering proceeds - together with a concurrent issuance to Teekay of unregistered shares of Class A common stock with an aggregate value of approximately $32.0 million and borrowings under the Company's revolving credit facility for the balance - to acquire three oil tankers from Teekay Corporation for aggregate consideration of approximately $168.7 million.
16:05
ROG Rogers Corp raises Q1 EPS and revenue guidance (30.34 +1.09)
Co raises guidance for Q1 (Mar), sees EPS of $0.35-0.39 vs. $0.25 Thomson Reuters consensus, up from $0.23-0.30 previously; sees Q1 (Mar) revs of ~$83 mln vs. $75.00 mln Thomson Reuters consensus, up from $75-80 mln previously. The first quarter 2010 results will include approximately $1.0 million of closing costs related to the recently announced acquisition of SK Utis Co., Ltd. completed on March 31, 2010. "Our strong Q1 sales have been led by our two largest businesses. High Performance Foams sales increased more than 80% year-over-year, as our business in the Mobile Internet Device and Mass Transit markets improved significantly. These sales were also aided by our April 2009 acquisition of certain MTI Global Inc. silicone foam product lines. Sales of Printed Circuit Materials were stronger than expected across all markets with our sales into the Wireless Internet market, driven by the continued 3G wireless build-out in China showing particular strength."
16:02
ISLE Isle of Capri and Bally Technologies announce Rainbow Casino Deal (8.76 +0.71)
The co announces it has entered into a definitive purchase agreement with Bally Technologies (BYI) to purchase its Rainbow Casino in Vicksburg, Miss. pending regulatory approval. Under the terms of the agreement, which was approved by the Board of Directors of both companies, Isle of Capri Casinos will pay Bally Technologies $80 million in an all-cash transaction, assuming the transaction closes by approximately June 30, 2010.
16:01
AHT Ashford Hospitality continues proactive management of demt Maturities with extension of $157 mln loan (7.45 +0.25)
Co announced it has restructured the $157 mln loan with Aareal Bank AG that is secured by the Hilton LaJolla Torrey Pines and the Capital Hilton held in a joint venture with Hilton Worldwide. The modification provides a full extension of the loan maturity to August 2013 without tests along with reduced cash management provisions in exchange for a reduction in the loan balance of $2.5 million at closing and another $2.5 mln over the next twelve months. The loan was set to mature in August 2011 and had two one-year extension options. Since January 1st, 2009, Ashford has completed $442 mln of loan extensions, modifications, and refinancing. The company does not have any non-extendable 2010 loan maturities. In 2011, the co's non-extendable loan maturities include a $6 mln loan due in Q1 and $203 mln due at the end of Q4 2011.
<p>16:00
FTI FMC Tech awarded Perdido Stage II contract; terms not disclosed (68.00 +1.95)
16:00
FTEK Fuel Tech announces retirement of John F. Norris Jr. as President and Chief Executive Officer (8.01 +0.16)
Co announced the retirement of John F. Norris Jr. as President and Chief Executive Officer of the Co, effective April 1, 2010, and as a Director, effective May 20, 2010, the date of Fuel Tech's Annual Stockholders' Meeting. During this transitional period, Mr. Norris will serve as Executive Advisor to Douglas G. Bailey, Chairman, who has been appointed President and Chief Executive Officer, on an interim basis, by the Board of Directors pending the recruitment of a new President and Chief Executive Officer for which Fuel Tech shall commission an executive search.
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