Briefing.com: Hourly In Play (R) – 15:00 ET
Jun 25, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 25-Jun-10 15:00 ET
14:57
URBN NASDAQ 100 (NDX) strength & weakness- Urban Retailer (URBN) remains atop the percentage gainers leaderboard heading into the final hour of trading today -Technical-
NDX 10 Best % Performers:
URBN, PCLN, ORCL, WYNN, CERN, BIDU, ILMN, GILD, FWLT, AMZN
NDX 10 Worst % Performers:
RIMM, APOL, DISH, MAT, MRVL, MSFT, ADBE, CSCO, INTO LOGI
NASDAQ A/D +1155
NASDAQ TRIN +.160
14:55
BAC Dow 30 (INDU) strength & weakness- Financials (JPM, BAC, AXP) continue atop the percentage gainers leaderboard heading into the final hour of trading today -Technical-
INDU 5 Best % Performers:
BAC, JPM, AXP, CAT, HD
INDU 5 Worst % Performers:
WMT, KO, MSFT, JNJ, CSCO
NYSE A/D +1640
NYSE TRIN +1.0
14:54
INDXCH S&P Index Change Reminders
S&P will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 Indices after the close: S&P MidCap 400 constituent CarMax Inc. (KMX) will replace XTO Energy (XTO) in the S&P 500, S&P SmallCap 600 constituent Acuity Brands (AYI) will replace CarMax in the S&P MidCap 400, and Medifast (MED) will replace Acuity Brands in the S&P SmallCap 600 index. S&P SmallCap 600 constituent Gardner Denver Inc. (GDI) will replace Palm (PALM) in the S&P MidCap 400 index, and Cogent Inc. (COGT) will replace Gardner Denver in the S&P SmallCap 600 index.
14:46
GDX Mkt Vctrs Gold Miners sets a minor new high of 54.30, edging up toward the early week/June peak at 54.40 (54.29 +2.11) -Technical-
14:46
COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices
July corn closed 4.75 cents lower at $3.40 per bushel, July soybeans closed higher by 3.25 cents at $9.5875 per bushel, Sept wheat closed 7 cents lower at $4.705 per bushel, July ethanol closed $0.019 lower at $1.535, October world sugar futures closed 0.20 cents higher to 16.39 cents.
14:23
EPR Entertainment Ppties priced its offering of $250 million in aggregate principal amount of 7.750% senior notes due 2020 (39.77 +0.62)
14:14
THC Tenet Healthcare subsidiary entered new agreement with Blue Cross and Blue Shield of Georgia effective July 1; Financial terms not disclosed (4.70 +0.08)
13:30
DIA Dow +28 confirms S&P +7 and Nasdaq Comp +16.9 move to new session highs -Update- -Technical-
13:14
SPY Minor new session high for S&P +3.3 and Nasdaq +8.6 but Dow does not confirm -0.7 -Update- -Technical-
13:06
VLO Valero Energy extends strong relative performance to new session high of 18.55 (18.53 +0.46) -Technical-
It has marched steadily higher over the last two hours with its edging back above its 50 ema during this move. The next area of note is just above at Monday's June rebound high and its 200 sma at 18.59/18.58. Other refiners on the move -- TSO +3.6%, SUN +2.7%, FTO +1.9%, HOC +1.9%, ALJ +0.5%.
12:53
RIMM Research In Motion slips modestly below its gap down opening range low as it continues lower in fresh 52-wk low territory (53.26 -5.12) -Update- -Technical-
Not a lot of meaningful support below, but the $50.00 'psychological' area could prove to be supportive around the way.
12:45
USO Global & sector ETF movers- Commodities (USO, UGA, JJC) lead all groups; Airlines (FAA) now leading laggard here @ midday -Technical-
The Actively Traded Leading Global & Sector ETFs:
crude/WTI oil- USO +3.25%, OIL +3.50%, gold miners/junior gold miners- GDX +3.25%, GDXJ +3.25%, RBOB gas- UGA +3.25%, copper- JJC +2.75%, silver- SLV +2.50%, REITS & real estate- ICF +2.50%, VNQ +2.25%, IYR +2.25%, commods. index- GSG +2.0%, DBC +1.75%, base metals- DBB +1.75%, natural gas- UNG +1.50%, commercial banks- KBE +1.75%
The Actively Traded Lagging Global & Sector ETFs:
airlines- FAA -1.50%, homebuilders & home construction- ITB -1.25%, XHB -0.25%, iShares Germany- EWG -0.75%, iShares Taiwan- EWT -0.75%, iShares S Korea- EWY -0.50%, semis- SMH -0.50%, XSD -0.50%, SPDRS cons stpls- XLP -0.50%, VIX vol index- VXX -0.50%, iShares France- EWQ -0.50%, US Dollar index- UUP -0.25%
12:38
SPY Stock indices continue to work slowly off late morning low -- Dow -3, S&P +2.8 -Update- -Technical-
The S&P and Dow continue to grind slowly high off of supports noted in The Technical Take at 1068/1066 (session low 1067) and 10085/10077 (session low 10081), respectively. Resistance is at 1077 (morning bounce high) followed by the 1079/1080 area (congestion/trendline off the June peak -- Click for chart).
12:34
FSS Federal Signal confirms jury absolved it from any liability in lawsuits brought by nine Philadelphia firefighters (6.15 +0.12)
Co announced that a Philadelphia, Pennsylvania jury absolved the Company from any liability in lawsuits brought by nine Philadelphia firefighters and found that the siren product was not defective. These firefighters claimed that they had developed hearing loss caused by exposure to sirens manufactured by the Company.
12:32
URBN NASDAQ 100 (NDX) strength & weakness- Retailer (URBN) now leads all percentage gainers in the index here @ midday -Technical-
NDX 10 Best % Performers:
URBN, ORCL, CTSH, BIDU, GILD, NIHD, CERN, FWLT, CELG, PCLN
NDX 10 Worst % Performers:
RIMM, APOL, DISH, MAT, BRCM, MRVL, VMED, NTAP, LOGI, YHOO
NASDAQ TRIN +2.30
NASDAQ A/D +905
12:30
JPM Dow 30 (INDU) strength & weakness- Financials (JPM, BAC) continue to lead all percentage gainers here @ midday -Technical-
INDU 5 Best % Performers:
JPM, BAC, MRK, AXP, BA
INDU 5 Worst % Performers:
KO, PG, DIS, XOM, CSCO
NYSE TRIN +1.15
NYSE A/D +920
12:21
LOJN LoJack announces strategic restructuring and workforce reduction (3.76 +0.04)
Co reported that it has restructured the company's operations and reduced staffing to maintain and strengthen the company's position in the marketplace. These initiatives principally affect the company's corporate headquarters and field sales organization. The approximately $1.8 mln charge related to these cost reductions will be reflected in the second quarter of this year and provide a benefit of approximately $3.5 mln over the remainder of 2010, with an annualized benefit of approximately $6.8 mln beginning in 2011. The work force reductions are expected to be completed in the second quarter of 2010. Co stated "We continue to expect a moderate year over year increase in revenue, modest profit, positive operating cash flow and healthy margins for 2010. Our revenue growth will be gradual and will be concentrated in the second half of the year." (Briefing note: Current single analyst estimate is for FY10 EPS of ($0.37) on revs of $142.00 mln. Co reported FY09 EPS loss of $1.96 on revs of $135 mln)
12:09
UAUA UAL Corp extends this week's drop to its 50-day exponential moving avearge and early June 9 bullish gap around the $20.86 area (20.91 -0.58) -Technical-
12:09
AERG Applied Energetics announces appointment of Joseph Hayden to President and Humberto Astorga to Chief Financial Officer (1.27 +0.01)
Co announced that its Board of Directors has appointed Chief Operating Officer Joseph C. Hayden as President. The Board also appointed Controller and Principal Financial Officer Humberto Astorga as Chief Financial Officer. These executive appointments are effective immediately.
11:52
GLD streetTRACKS Gold Shares back hovering near session high of 122.97 (122.89 +1.59) -Update- -Technical-
Its 52-wk high from last week is at 123.50.
11:50
USO U.S. Oil Fund ETF pops to fresh daily highs as it breaks back above the $35.00 area (35.20 +1.01) -Technical-
XLE, OIH
11:50
TECHX S&P 500 -0.4 stabilize near support -Update- -Technical-
Noted first level support for the S&P in the 1068/1066 area (70.7% retrace of June run/congest) in The Technical Take and have seen a stabilization near here over the last half hour. Overall interest has, however, remained very limited thus far. The next short term area of interest below if unable to build on this stabilization/pause is in the 1061/1060 area. Intraday a sustained push back through 1074 and 1077 is needed to begin to neutralize the very short term bias.
11:46
European Markets Closing Prices
European markets are now closed; stock markets across Europe performed as follows: UK's FTSE: -1.1% Germany's DAX: -0.9% France's CAC: -1.2% Spain's IBEX: -0.5% Portugal's PSI: -0.1%
11:36
POWI Power Integrations names Sandeep Nayyar CFO (31.91 +0.13)
Co announced that Sandeep Nayyar has been appointed vice president and chief financial officer, effective today.
11:31
YRCW YRC Worldwide announces definitive agreement for Austin ventures to acquire YRC Logistics (0.19 +0.01)
Co announces it has entered into a definitive agreement to sell a portion of its YRC Logistics business to Austin Ventures, a strategic private equity investor. This logistics business will operate as a private company owned by Austin Ventures. The sale will form the basis for a new company specializing in international freight forwarding, customs brokerage, transportation management, truckload services, and dedicated warehouse and fulfillment services in North America, Latin America, Europe and Asia. The agreement between YRC Worldwide and Austin Ventures is for an acquisition price of $37 mln, and incremental value will be realized by both parties through a comprehensive commercial services agreement. The transition to new ownership is expected to be complete within the next 30-45 days.
11:27
SCANX Stocks making new 52-week highs/lows -Technical-
New lows (40) outpace new highs (10):
New 52-week highs trading over 250K (average daily volume) include: Gold & Silver (GOLD, UXG).
New 52-week lows trading over 250K (average daily volume) include: Biotechnology & Drugs (HEB, INSM, NYMX, PTN), Communications (NOK, RIMM), Oil & Gas (BP, SYNM, TDW), Regional Banks (BANR, FBP), and Retail (JCP, WAG).
11:22
XLF Key Financial Select sector continues to display some relative strength (14.35 +0.10) -Update- -Technical-
The sector opened on a relatively stronger note after the House and Senate agreed on financial regulation reform. While the market averages faltered and dropped again to new session lows at 10:55, the key financial sector has thus far been able to maintain a slightly firmer bias above yesterday's low at 14.19 which lined up with the 62% retracement of the June rally at 14.21 (pullback low 14.30)) -- Click for chart. XLF 0.7%, RKH +1.2%, KBE +1.1%, KRE +0.8%
11:03
SHPGY Shire Plc confirms it received CHMP Positive Opinion for VPRIV for the Treatment of Type 1 Gaucher Disease in the European Union (63.48 +0.02)
10:57
TECHX Another round of selling with the Nasdaq -9.8 joining the Dow -60 and S&P -4.7 at minor new session lows -Update- -Technical-
Relative sector weakness on this latest slide has been noted in Energy XLE / OIH, Industrial XLI, Semi SMH.
10:47
TECHX Seeing some minor relative sector strength in recent trade in Retail XRT, Housing XHB, REITs IYR, Semi SMH, Silver SLV -Update- -Technical-
10:45
GLD Global & sector ETF movers- Gold & Junior Gold Miners (GDX, GDXJ) along with Energy Commodities (USO, UNG, UGA) lead through the 1st hour of trading today; Homebuilders & Home Construction (XHB, ITB) lags all sectors -Technical-
The Actively Traded Leading Global & Sector ETFs:
gold & gold miners- GDX +2.0%, GDXJ +2.0%, crude/WTI oil- USO +1.50%, OIL +1.50%, RBOB gas- UGA +1.50%, natural gas- UNG +1.50%, silver- SLV +1.50%, commercial banks- KBE +1.50%, gold- GLD +1.0%, regional banks- KRE +1.0%, RKH +1.25%, iShares US broker/dealers- IAI +1.0%, SPDRS financials- XLF +0.75%
The Actively Traded Lagging Global & Sector ETFs:
homebuilders & home construction- ITB -1.75%, XHB -0.75%, iShares Germany- EWG -1.50%, semis- SMH -1.50%, XSD -1.25%, IGW -1.0%, iShares Australia- EWA -1.0%, iShares France- EWQ -1.0%, iShares Taiwan- EWT -1.0%, steel- SLX -1.0%
10:42
SPY S&P -1.4 and Dow -27 set new lows, Nasdaq -3.5 has not yet confirmed -Update- -Technical-
10:36
OSUR OraSure Tech receives FDA approval for OraQuick HCV Rapid Test (5.28 +0.43)
Co announced that its OraQuick Hepatitis C Rapid Antibody Test has been approved by the FDA for use in detecting HCV antibodies in venous whole blood specimens, making it the first rapid HCV test approved by the FDA for use in the United States.
10:35
DIA Dow -32 sets a fractional new session low, S&P -1.2 and Nasdaq -4.7 have not confirmed this move thus far -Technical-
Weighing on the Dow are: INTC -1.7%, KO -1.4%, CSCO -12.%, VZ -1.1%, T -1.1%, DIA -1.1%, PG -1%.
10:33
IBM IBM sets a new session low under yesterday's trough at 127.70 -- session low 127.59 (127.66 -0.53) -Technical-
The 50% retracement of the June rally is at 127.38.
10:33
ORCL NASDAQ 100 (NDX) strength & weakness- Software name (ORCL) continues to lead all percentage gainers through the 1st hour of trading -Technical-
NDX 10 Best % Performers:
ORCL, NIHD, FWLT, GILD, CERN, CTSH, BBBY, PCLN, CELG, URBN
NDX 10 Worst % Performers:
RIMM, APOL, MAT, MRVL, DELL, BRCM, SYMC, INTC, DISH, NVDA
NASDAQ TRIN +2.45
NASDAQ A/D +280
10:30
WMT Wal-Mart displaying Relative Weakness this morning as it drops to fresh 7-month lows -Technical-
Price extends this week's decline below its late-May low of 50.00, to a fresh 7-month low. Next levels of interest are the Oct/Nov lows of 2009 near 48.73/49.52.
10:27
JPM Dow 30 (INDU) strength & weakness- Financials (JPM, BAC, AXP) still lead all percentage gainers through the 1st hour of trading -Technical-
INDU 5 Best % Performers:
JPM, BAC, AXP, HD, PFE
INDU 5 Worst % Performers:
INTC, KO, CSCO, T, VZ
NYSE TRIN +0.95
NYSE A/D +135
10:12
SPY Stock indices working off session lows -- Dow +15, S&P +3.5, Nasdaq +4.5 -Update- -Technical-
The market is oversold in the wake of this week's breakdown (roughly 5.3% S&P intraday high to low) and we saw relatively high level of selling pressure yesterday (TRIN) which suggests potential for at least a period of corrective trade. We have a first intraday leg off the low and as long as we get a higher low on a morning pullback the stage would be set for further upticks. Resistance is at 1080/1081 and Wednesday's low/yesterday's late high at 1085. Note in the char that it also lines up with this week's trendline (Click for chart).
10:09
CXPO Crimson Exploration provides drilling update (2.60 +0.01)
Co provided drilling updates on projects located in its East Texas and Southeast Texas areas of operations. Highlights: Grizzly #1: Drilled lateral to 18,100 feet in 60 days; Fracing and completion scheduled for mid-July 2010 Catherine Henderson A-7: Completed and producing at a gross rate of 6.2 Mmcfepd Henderson A-8: Recompletion producing at a gross rate of 3.0 Mmcfepd Schwarz #2: Reached TD of 15,450 feet; Fracing and completion scheduled for early July 2010
10:04
TECHX Seeing some relative strength in Machinery in recent trade -Update- -Technical-
BUCY +2.1%, DEC +1.6%, PWR +0.8%, HON +0.8%, URS +0.6%, CMI +0.6%, NAVE +0.5%, JOYG +0.4%, CBE +0.3%.
10:03
LUB Luby's receives bankruptcy court approval to complete purchase of Fuddruckers for ~$61 mln in cash (3.90 -0.02)
Co . will also assume certain of Fuddruckers' obligations, real estate leases and contracts and will pay an additional $2.45 million in cash if it does not assume certain specified contracts. The transaction is expected to close on or before July 26, 2010.
10:02
MDT Medtronic launches new Midas Rex Legend EHS Stylus Touch high-speed electric drill for spinal, cranial and orthopaedic surgical procedures (37.01 +0.17)
10:01
ATHX Athersys and CSCRM receive grant funding to support research into novel stem cell treatment of spinal cord injury (3.25 +0.09)
The co and its collaborators were awarded $1 million through the Ohio Third Frontier Biomedical Program to support research into the treatment of spinal cord injury (SCI) with MultiStem(R), Athersys' proprietary stem cell product candidate. The project is intended to advance preclinical and translational research involving the use of MultiStem as a treatment for damage associated with SCI.
09:59
BTU Peabody Energy - - 200 Day Alert (43.54 +1.13) -Technical-
Coal name pushing to highs of the week this morning, looking to challenge its 200-day simple moving average near 43.69.
09:56
SPY Minor lift off lows for stock indices after slightly better sentiment data -- Dow -1, S&P +1.1, Nasdaq -4 -Update- -Technical-
09:55
TECHX SPDR Retail XRT set a new session/four month low, Housing XHB also sets new session low -Technical-
09:52
SPY Dow -29 and S&P -2.1 join Nasdaq Comp -9.4 slightly under yesterday's lows -Update- -Technical-
09:49
INTC Intel is the Dow laggard and a drag on the SMH this morning but... (20.05 -0.27) -Technical-
Thus far, however, it is attempting to stabilize at its four month close low from early June at 19.93 (session low 19.96). Key short term resistance to work through is in the 20.20/20.25 area. The June/four month intraday low is at 19.74.
09:48
TECHX Opening Point Gainers/Losers -Technical-
Point Gainers: EOG (+2.26), GS (+2.12), ACN (+1.95), TUP (+1.67), TIBX (+1.00), HRB (+0.79)
Point Losers: RIMM (-4.63), NFLX (-2.39), GOOG (-1.77), SYUT (-2.00), MA (-2.21), AVAV (-1.57), GFC (-1.88), VMW (-1.42), APOL (-1.31), CREE (-1.31), AAPL (-1.49)
09:45
SMH Semiconductor Hldrs are a drag this morning with it back probing its 200 sma at 26.89 -- session low 26.90 (26.92 -0.31) -Technical-
Note that its 200 ema is at 26.66. Weighing this morning are MRVL, NVDA, KLAC, INTC, AMAT, BRCM, XLNX, LLTC, SNDK.
09:44
SPY S&P +1.6 and Dow +3.1 hold just above yesterday's lows, lagging Nasdaq Comp -1.4 puts vacillating near after fractional penetration -Update- -Technical-
09:43
CLC CLARCOR announces $250 mln stock repurchase program (35.98 +0.32)
09:41
QQQQ NASDAQ 100 cash index tests/drifting near yesterday's low and its 200 sma at 1839/1837 -- session low 1838 -Technical-
09:39
SPY Mixed/choppy bias in early trade turns weaker -- Dow -12, S&P -0.5, Nasdaq -4.1 -Technical-
Finance and commodities provided some upside leadership while technology, housing, retail are lagging.
09:37
CORT Corcept Therapeutics prices 5 mln share common stock offering at $3.00 per share (3.26 -0.22)
09:28
PTN Palatin Technologies to raise $2.0 mln dollars in registered direct offering (0.27 )
Co announced that it has entered into definitive agreements with certain accredited investors to sell in a registered direct offering 10.0 million units at a price of $0.20 per unit for gross proceeds of $2.0 mln.
09:26
CUR Neuralstem to raise $10 mln in registered direct offering (3.30 )
Co announced that it has entered into definitive agreements to sell $10 million of units at $2.80 per unit in a registered-direct offering to institutional investors.
09:18
HIW Highwoods Prop sells non-core assets in Winston-Salem and Greensboro for $24.9 mln (28.80 )
Co announced that it has sold, in separate transactions, Madison Park, a non-core office park in Winston-Salem, for $12.9 mln, and Chimney Rock, a non-core industrial park in Greensboro, for $12.0 mln. Inclusive of these dispositions, Highwoods has sold $125 mln of non-core assets in 2010, in-line with its previously stated guidance of $50 mln to $150 mln.
09:12
SYUT Synutra announced the pricing of a public offering of 3.3 million common shares at $19.00 per share (20.85 )
09:08
On The Wires
EMS Technologies (ELMG) to provide radar front-end switch assemblies for the Phalanx Close-in Weapon System for Raytheon (RTN) Missile Systems... PAA Natural Gas Storages (PNG) is conducting a non-binding Open Season for 2 billion cubic feetof firm natural gas storage service to be available beginning in the second quarter of 2011 at its Pine Prairie salt-cavern storage facility in Evangeline Parish, Louisiana. Co also announced that it is soliciting expressions of interest for firm natural gas storage service at Pine Prairie beginning in the second quarter of 2013 in order to assess market demand for additional expansions at Pine Prairie... US Airways (LCC) and Spain's Spanair expand bilateral codeshare agreement between the two Star Alliance carriers.
09:02
On The Wires
PolyMet Mining (PLM) announced that the state and federal government agencies responsible for the Environmental Impact Statement reviewing PolyMet's copper-nickel-precious metals project will complete the process by preparing a supplemental draft that incorporates the proposed US Forest Service land exchange and expands government agency cooperation... Altair Nanotechnologies (ALTI) announced it had been granted a U.S. patent for the "Method of Producing Mixed Metal Oxides and Metal Oxide Compounds."... Medtronic (MDT) announced that the first patient has been enrolled as part of the ASPIRE study of the MiniMed Paradigm x54 System featuring Low Glucose Suspend automation.
09:01
CHSI Catalyst Health Solutions appoints Rick Bates, formerly Executive Vice President, to President and Chief Operating Officer (34.62 )
09:00
JBT JBT Corp awarded $13 million ground support equipment order (16.25 )
08:46
On The Wires
Trina Solar Limited (TSL) announced that it is expected to supply PV modules to the University of Queensland St Lucia campus in Brisbane, Australia, to be used for a 1.2 MW solar system which will be installed on the rooftops of four university buildings... LRAD Corporation (LRAD) announced it has received the latest in a series of LRAD 1000X orders from the U.S. Navy under Block 0 of the Shipboard Protection System multi-year contract issued by Naval Surface Warfare Center Crane Division to LRAD Corporation in October 2007. The $463,000 order is scheduled to ship next quarter.
08:40
FCEL FuelCell Energy prices 24 mln shares of common stock at $2.25 per share (1.50 )
08:31
GILD Gilead Sciences to acquire CGI Pharmaceuticals for up to $120 mln (35.72 )
Co announced the signing of a definitive agreement pursuant to which Gilead will acquire CGI. Under the terms of the agreement, Gilead will acquire CGI for up to $120 mln, the majority as an upfront payment and the remaining based on clinical development progress, all of which will be financed through available cash on hand.
08:31
SNY Sanofi-Aventis and Metabolex announce global license and development ag (30.46 )
Metabolex and Sanofi-Aventis entered into a global license and development agreement for the research, development, manufacture and commercialization of small molecules that modulate the G-protein coupled receptor 119 (GPR119). The agreement includes MBX-2982, a potent selective orally active GPR119 agonist discovered by Metabolex. Under this agreement, Metabolex will receive an upfront payment and will be eligible to receive development, regulatory, and specified commercial milestones that total as much as $375 Million. Metabolex is also eligible to receive royalties on worldwide sales of marketed products.
08:31
GNK Genco Shipping & Trading Limited announces agreement to acquire 16 Supramax vessels (15.72 ) -Update-
Co announced that it has entered into an agreement with Bourbon SA to acquire 16 Supramax vessels, including two newbuildings, from Setaf SAS, a wholly owned subsidiary of Bourbon SA, for an aggregate purchase price of $545 mln.
08:30
HZO MarineMax secures new $100 million financing facility (7.34 )
08:30
TECHX E~mini index futures on GLOBEX trade lower following GDP figures -Technical-
SPX (ES) now -1.50
NDX (NQ) now -6.50
INDU (YM) now -18
08:24
ECONX Reminder: GDP - Third Estimate Q1 and GDP Deflator Q1 data due out in about 6 min at 8:30ET
08:01
AAV Advantage Oil and Gas announces renewal of $525 mln credit facilities (6.37 )
Co announced that its lenders have completed their review of the borrowing base, which will remain unchanged at $525 million and continue to provide significant financial flexibility in support of future capital program requirements and general corporate purposes.
08:01
PSEC Prospect Capital provides $25.5 mln senior secured credit facility for EXL Acquisition Corp (10.03 )
08:01
MGA Magna intends to provide additional disclosure regarding proposed transaction to eliminate the company's dual class share structure (70.07 )
Co announced that the Ontario Securities Commission (OSC) has issued an order requiring Magna to make additional disclosures in order to proceed with its proposed transaction to eliminate the company's dual class share structure. Co will work to bring the proposed transaction back to its shareholders for consideration in an expeditious manner. Magna has postponed the special meeting of shareholders scheduled for Monday June 28, 2010.
07:43
On The Wires
Cellcom Israel (CEL) filed its formal objection to the previously reported Israeli Ministry of Communications announcement, that it is considering reducing interconnect tariffs payable to cellular operators. Co intends to take measures to mitigate as much as possible expected adverse effects of such proposed changes but cannot assure that these will be successful... Helicos BioSciences (HLCS) announced that it is in the early stages of validating molecular diagnostic tests that utilize its HeliScope Single Molecule Sequencer. Co has begun development of its own genetic testing laboratory for which it expects to seek certification... CorMedix (CRMD) announced dosing of the first patient with CRMD-001 in a randomized, double-blind, placebo-controlled clinical trial.
07:37
On The Wires
Alcoa (AA) announced that a new four-year contract covering 5,400 employees at 10 co locations in the United States has been ratified by members of the United Steelworkers... SUPERVALU's (SVU) Board of Directors adopted a new annual share repurchase program authorizing the company to purchase up to $70 mln of its common stock through June 30, 2011... Mentor Graphics Corporation (MENT) announced that its Board of Directors has adopted a Shareholder Rights Plan in which one incentive stock purchase right will be distributed for each share of common stock held by shareholders of record as of the close of business on July 6, 2010... HeartWare International (HTWR) announced that C. Raymond Larkin, Jr., who joined the Board in October 2008, will succeed Robert B. Thomas as Chairman, effective July 1, 2010.
07:31
AWI Armstrong World Industries names Matthew J. Espe Chief Executive Officer and President effective late June (31.34 )
07:31
IMMU Immunomedics: Epratuzumab data from Phase IIB EMBLEM study presented at 9th International Congress on Systemic Lupus Erythematosis (3.26 )
These data showed that, in patients with moderate to severe systemic lupus erythematosus (SLE), epratuzumab provided clinically meaningful1 and statistically significant*1 improvements in disease activity. In the second half of 2010, UCB will initiate two Phase III studies of epratuzumab for the treatment of patients with moderate to severe lupus.
07:30
MRK Merck: Investigational BRINAVESS for Infusion recommended for approval by the CHMP in the EU for the rapid conversion of recent onset atrial fibrillation (35.61 )
Co and Cardiome Pharma (CRME) announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has recommended marketing approval for BRINAVESS, an investigational intravenous formulation for the conversion of recent onset atrial fibrillation to sinus rhythm in adults. The CHMP issued the positive opinion following a review of data supporting the efficacy, safety and tolerability profile of vernakalant.
07:01
GRR Asia Tigers Fund, Inc. Announces Commencement Date of Semi-Annual Repurchase Offer (18.93 )
Co announced today that the fund's semi-annual repurchase offer will commence today and terminate on July 16, 2010. In April 2002, stockholders of the fund voted to adopt an interval fund structure, pursuant to which the fund conducts periodic repurchase offers for between 5% and 25% of the Fund's outstanding common stock.
06:59
FN Fabrinet prices 8.5 mln IPO at $10.00 per share; below the $12-14 expected range
06:58
FXCB Fox Chase Bancorp Plan of Conversion and Reorganization was approved (10.63 )
Co's Plan of Conversion and Reorganization was approved by members of Fox Chase MHC and the shareholders of Fox Chase Bancorp at separate meetings held today. Shareholders of the Company also elected Richard M. Eisenstaedt and Anthony A. Nichols, Sr. to three-year terms and ratified the appointment of KPMG LLP as the Company's independent registered accounting firm for the year ending December 31, 2010. Co also announced today that new Fox Chase Bancorp, Inc. has received orders to purchase common stock sufficient to complete the offering being conducted in connection with the second-step conversion of Fox Chase Bank. The conversion and offering are expected to be completed on June 29, 2010. The closing of the transaction is subject to the satisfaction of customary closing conditions. A total of 8,712,500 shares of common stock, the minimum of the offering range, will be sold in the subscription, community and syndicated community offerings at $10.00 per share, including 348,500 shares to be purchased by the Fox Chase Bank Employee Stock Ownership Plan.
06:45
S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: +1.00.
06:45
Asian Markets: Nikkei...9737.48...-190.90...-1.90%. Hang Seng...20690.79...-42.70...-0.20%
06:45
European Markets: FTSE...5067.25...-33.00...-0.70%. DAX...6070.91...-44.50...-0.70%
06:35
HGSI Human Genome Sciences announces presentation of additional Ph. 3 SLE study results for BENLYSTA at International Congress on SLE (24.13 )
Co announces the presentation of additional results from BLISS-76, one of two pivotal Phase 3 trials of BENLYSTA in seropositive patients with systemic lupus erythematosus. The additional data will be presented in Vancouver at the 9th International Congress on Systemic Lupus Erythematosus on Friday and Saturday, June 25-26. BLISS-76 data recently presented at the 2010 Congress of the European League Against Rheumatism demonstrated that belimumab 10 mg/kg plus standard of care met the primary endpoint of the Phase 3 study by achieving a statistically significant improvement in patient response rate as measured by the SLE Responder Index at Week 52, compared with placebo plus standard of care. At Week 76, belimumab plus standard of care also showed higher response rates compared with placebo plus standard of care as measured by SRI; however, this major secondary endpoint did not reach statistical significance.
06:30
WBC WABCO Holdings raises full year 2010 performance guidance (33.63 )
Co is raising its full year 2010 guidance, WABCO now expects an estimated increase in 2010 sales of 30 to 35% in local currencies, up from 23 to 28% in its previous guidance. WABCO has also raised its full year 2010 guidance for performance operating margin to range from 8 to 9% , up from its previous guidance of 6.5 to 8.5%, and operating margin on a U.S. GAAP basis to range from 7.7 to 8.7%, up from its previous guidance of 6.2 to 8.2%. Co issues guidance for FY10 (Dec), sees EPS of $1.75-2.05 up from $1.40-1.80 vs. $1.77 Thomson Reuters consensus.
06:24
On The Wires
Force Protection (FRPT) announces it has received a modification to contract M67854-07-D-5031 from the U.S. Marine Corps Systems Command for additional field service support; contract is valued at $19.6 mln... Corcept Therapeutics (CORT) announces that it had enrolled 49 of the planned 50 patients in its Phase 3 trial of CORLUX for the treatment of Cushing's Syndrome and expects the fiftieth patient to begin dosing next week... NewLead Holdings (NEWL) announces it has signed a Letter of Intent for the dropdown of five dry bulk vessels, including two newbuildings, and the right of first refusal for three newbuildings from Grandunion; total consideration for the dropdown of the five vessels is ~$148.0 mln.
05:10
AZZ AZZ Inc. reports EPS in-line, misses on revs; guides FY11 EPS above consensus, revs above consensus (38.74 )
Reports Q1 (May) earnings of $0.57 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.57; revenues fell 18.8% year/year to $77.5 mln vs the $79.3 mln consensus. Backlog at the end of 1Q11 was $111.0 mln. Backlog at the end of 1q10 was $150.1 mln and $109.9 mln at February 28, 2010. Co issues upside guidance for FY11, sees EPS of $2.65-2.80 (prior range $1.85-2.20) vs. $2.28 Thomson Reuters consensus; sees FY11 revs of $380.0-395.0 mln (prior range $310.0-330.0 mln) vs. $339.49 mln Thomson Reuters consensus. Co will incur additional acquisition related expenses during balance of FY11 of ~$1.0 mln, which are reflected in guidance. Co doesn't expect to fully realize all synergistic benefits of North American Galvanizing acquisition until 1Q12.
04:18
GSOL Global Sources intends to increase its upcoming cash tender offer to purchase up to ~$100 mln of its outstanding common shares (7.45 )
Co intends to increase the number of shares to be purchased for its upcoming cash tender offer to a total of up to 11,121,000 shares, or approx 24.9% of its outstanding common shares as at April 30, 2010, up from 6,670,000 shares. The purchase price of $9.00 per share remains, as previously announced on May 19, 2010, increasing the total purchase price to an amount of up to $100,089,000.
03:05
GNK Genco Shipping & Trading Ltd. announces agreement to acquire 16 Supramax vessels (15.72 )
Co announces that it has entered into an agreement with Bourbon SA to acquire 16 Supramax vessels, including two newbuildings, from Setaf SAS, a wholly owned subsidiary of Bourbon SA, for an aggregate purchase price of $545 mln. Genco intends to retain 13 of the vessels, 12 of which are expected to be delivered to Genco in the third quarter of 2010, with the remaining vessel scheduled to be delivered in the first quarter of 2011.
01:59
VNO Vornado Rlty Trust announces its share of Toys "R" Us 1Q results (76.26 )
Co announces that it will record its 32.7% share of Toys "R" Us' first quarter financial results in its second quarter ending June 30, 2010. Vornado's results will include a net loss of $21,004,000, or $0.10 per diluted share, compared to a net loss of $14,273,000, or $0.08 per diluted share recorded in the quarter ended June 30, 2009. Vornado's share of negative FFO before income taxes for the quarter ending June 30, 2010 will be $27,464,000, or $0.13 per diluted share, compared to negative FFO before income taxes of $10,164,000, or $0.05 per diluted share in the prior year's quarter. Net sales were $2.61 bln for the quarter.
01:56
CYS Cypress Sharpridge Investments prices 9.5 mln common shares at $12.50/share (12.53 )
01:55
BANR Banner prices 75.0 mln common shares at $2.00/share (2.05 )
01:54
On The Wires
Infogroup (IUSA) announces that Court of Chancery of the State of Delaware declined to issue a preliminary injunction which might have delayed the meeting of Infogroup's shareholders scheduled for June 29, 2010 to vote on the proposed acquisition of the co by affiliates of CCMP Capital Investors LLP... Medco Health Solutions (MHS) and BIG direkt gesund announce that they have executed an agreement for a portfolio of advanced pharmacy-driven solutions. BIG direkt gesund, a German sick fund that provides health insurance coverage for about 400,000 beneficiaries nationwide, has become the inaugural client for Medco's Advanced Clinical Solutions service offering... Accelrys (ACCL) announces that Institutional Shareholder Services has recommended that stockholders of Accelrys vote "FOR" the proposed agreement providing for the merger with Symyx Technologies (SMMX)... Pinnacle Entertainment (PNK) announces permanent closure fo President Casino in St. Louis, MO.
18:31
MNKD Mannkind: American Diabetes Association/The Lancet Symposium will highlight study showing AFREZZA provides comparable glycemic control with less weight gain and hypoglycemia than standard of care (6.56 +0.61)
AFREZZATM (insulin human [rDNA origin]) Inhalation Powder, a well-tolerated, investigational ultra rapid acting mealtime insulin, combined with basal insulin is comparable to standard insulin therapy in controlling post-meal blood sugar levels in adult patients with Type 2 diabetes, and offers the added benefits of significantly less weight gain and lower risk of hypoglycemia. These study findings will be presented on Saturday, June 26, at a special symposium co-hosted by The Lancet and the American Diabetes Association (ADA), at the American Diabetes Association's 70th Scientific Sessions. The study will also be published in the June 26 issue of The Lancet, one of the world's leading medical journals.
18:29
SMMX Symyx Technologies Board of Directors concludes modified proposal from Certara Corporation Does Not Constitute a Company Superior Offer (5.57 -0.04)
Co announced that in a June 24, 2010 meeting its board of directors determined that the modified proposal received on June 23, 2010 from Certara Corporation, Tripos International and Pharsight Corporation (collectively referred to as "Certara") and Vector Capital ("Vector") (collectively the "Certara/Vector proposal") to acquire all of the outstanding capital stock of Symyx for $5.75 per share in cash, does not constitute a Company Superior Offer as defined in the Symyx merger agreement dated April 5, 2010 with Accelrys, Inc. (ACCL) , would not reasonably be expected to result in a Co Superior Offer and is not in the best interests of Symyx stockholders.
18:05
ADBE Adobe enters into stock repurchase agreements for $400 mln (30.26 -0.12)
Co announced that it has entered into structured stock repurchase agreements with large third-party financial institutions for the repurchase of $400 mln of its common stock. In addition to the agreements entered into today, ADBE also has outstanding a $250 mln structured stock repurchase agreement from March 2010, of which ~$165.3 million of up-front payments remain.
18:01
CNW Con-way Freight announces expansion of relationship with Caterpillar Logistics Services (30.86 -0.21)
Con-way Freight, a less-than-truckload (LTL) carrier and subsidiary of Con-way (CNW), announced that it has expanded its relationship with Caterpillar Logistics Services, Inc. (Cat Logistics), a division of Caterpillar (CAT. Con-way Freight will now provide all LTL freight carriage for Cat Logistics from 27 U.S. states, as well as service into and out of Canada and Mexico. The expanded relationship is effective June 28.
18:00
CE Celanese announces price increases (26.77 -1.29)
Co announced that it will increase prices for the following products in the amounts detailed below effective July 1, 2010, or as contracts allow. Customers should contact their sales representatives for more details. Product/(Euro/MT): Acetic Acid/90, Acetic Anhydride/90, Vinyl Acetate Monomer/150, Ethyl Acetate/50, Butyl Acetate/50.
18:00
CCJ Cameco signs supply agreement with China Nuclear Energy Industry Corporation (22.19 -0.71)
Co announced it has signed an agreement with China Nuclear Energy Industry Corp (CNEIC), a wholly-owned subsidiary of China National Nuclear Corporation (CNNC), to supply ~23 mln pounds of uranium concentrate under a long-term agreement through 2020.
17:58
FSS Federal Signal Technologies' PIPS cameras selected for license plate recognition in Thailand's electronic vehicle registration project (6.03 -0.38)
Federal Signal Technologies' group company PIPS Technology Limited ("PIPS"), a global provider of camera technology, announces that it has entered into a contract with Konlakorn Co. Limited of Bangkok to supply PIPS' latest integrated ALPR camera technology for the Government of Thailand's Electronic Vehicle Registration (EVR) Systems project. The initial order value of US$0.5 mln for delivery and installation by October 2010 is expected to lead to revenue of up to $6 mln over the next three years as Konlakorn expands the EVR project nationwide in Thailand.
17:52
Futures are higher after hours with S&P 500 futures 3.16 points above fair value of 1069.64 and Nasdaq 100 futures 4.95 points above fair value of 1844.05
17:48
ECA Encana and China National Petroleum look to jointly develop Canadian unconventional natural gas (31.92 -0.82)
Co and China National Petroleum Corp (CNPC) signed a memorandum of understanding, formally called a Heads of Agreement, that outlines a framework for the two companies to negotiate a potential joint-venture investment in the development of certain lands in Encana's natural gas plays in Horn River, Greater Sierra (Jean Marie formation) and Cutbank Ridge (Montney formation) in northeast British Columbia. ECA is targeting annual joint-venture investments of between $1-2 bln. A joint venture with CNPC could contribute significantly towards achieving that investment target.
17:41
PNK Pinnacle announces commencement of exchange offer of up to $450 mln (10.60 -0.16)
Co announced that it has commenced an offer to exchange up to $450 mln aggregate principal amount of 8.625% Senior Notes due 2017, which have been registered under the Securities Act of 1933, as amended, for an equal principal amount of its outstanding 8.625% Senior Notes due 2017.
17:37
ATPG ATP secures $150 mln senior term loan and option for additional $350 mln Loan (10.92 +0.13)
Co announced that it has priced a new $150 mln First Lien Senior Secured Term Loan facility. The facility replaces the existing undrawn $100 mln revolving credit facility and additionally provides an option to increase the first lien loan by up to an additional $350 mln (for a total of $500 mln) as the co's Adjusted Consolidated Net Tangible Assets value grows. In addition, the facility offers provisions to expand it incrementally by $350 mln which would increase the size of the loan to $500 mln as the value of our assets grow.
17:24
TRAK Asbury Automotive Group, has decided to deploy a common dealer management system with the Dealer Services Group of ADP as its provider; ABG will also partner with TRAk (17.25 -0.28) -Update-
Co announced that in conjunction with its ongoing IT strategic review, the company has decided to deploy a common dealer management system (DMS) with the Dealer Services Group of Automatic Data Processing (ADP) as its provider. Additionally, Asbury looks forward to partnering with DealerTrack Holdings (TRAK) as a preferred software provider for F&I and inventory management solutions, including credit application processing, compliance and DealerTrack AAX. Asbury does not anticipate any material near-term financial impact; in fact, it expects productivity improvements from its new IT infrastructure, which is targeted to be fully implemented by the summer of 2011.
17:18
WSFS WSFS to acquire Christiana Bank & Trust Company for $34.5 mln (34.33 -2.19)
WSFS Financial (WSFS), the parent co of WSFS Bank, announced that it has signed a definitive agreement with National Penn Bancshares (NPBC), to acquire its wholly-owned subsidiary Christiana Bank & Trust Co located in Greenville, Delaware. As part of the $34.5 mln cash transaction, WSFS will acquire ~$161 mln in deposits, ~$115 mln in performing loans and ~$6 bln in trust assets under administration or management held at Christiana as of May 31, 2010. WSFS will not acquire any of Christiana's currently classified or non-accrual loans or OREO in the transaction. The transaction is expected to close in Q4 of 2010.
17:05
HWD Harry Winston Diamond announces US$100 mln mining credit facility (12.95 -0.16)
Co announce that it has completed a senior secured revolving credit facility with Standard Chartered Bank for US$100.0 million. The facility has an initial maturity date of June 24, 2013 with two one-year additional extensions at the Company's option. There are no scheduled repayments required before maturity. The facility is available to the Company and Harry Winston Diamond Mines Ltd. for general corporate purposes. Borrowings will bear an interest margin of 3.5%.
17:01
XTEX Crosstex Energy announces expiration of registered exchange offer for 8.875% senior notes due 2018 (10.16 -0.27)
XTEX and Crosstex Energy Finance Corp (together, the Issuers) announced the expiration of their offer to exchange any and all of their $725,000,000 outstanding principal amount of 8.875 percent Senior Notes due 2018 for an equal amount of new 8.875% Senior Notes due 2018.
17:01
AOS A.O. Smith recovers quickly from flood; co lowers 2010 EPS below consensus, due to one-time charge from flood (47.42 -0.07)
A.O. Smith lowers 2010 EPS to $3.05-3.25, incl charges of $0.60-0.70 due to flood, versus $3.54 Thomson Reuters consensus, down from $3.20-3.40. Co said, "Based upon what we know today, the improvements we expect in our operating performance for the year could substantially offset the one-time costs from the flood... production at the co's largest water heater facility in Ashland City, Tenn. is up and running faster than expected since the flooding of the Cumberland River in early May. That production, combined with the shifting of residential water heater production to the company's other North American operations, will allow residential water heater backlogs to return to their normal lead times in early July."
16:58
ALTI Altair Nanotechnologies signs long-term supply agreement with Proterra Inc. to power Proterra's electric and hybrid transit buses (0.40 -0.04)
Co announced it has signed a long-term supply agreement with Proterra Inc. to supply advanced lithium-ion battery modules for incorporation into Proterra's all-electric and hybrid-electric buses. Co's technology enables these buses to completely recharge in under 10 minutes, providing high levels of uptime and efficiency. These batteries are ideally suited for the challenging operating conditions experienced by commercial transit buses. The initial purchase order of $4.6 mln is for delivery of modules through June 2011 with ongoing orders anticipated. This is a follow-on order to the two earlier orders announced in August 2009 and April 2010.
16:33
ADP Automatic Data signs letter of intent to become DMS Solutions provider for Asbury Automotive Group (ABG) (40.58 -0.48)
Co announced the signing of a letter of intent to become the sole DMS Solutions Provider for Asbury Automotive Group. Asbury's 80 dealer locations, representing 107 franchises, plan to begin the transition to ADP's Dealership Management System (DMS) towards the end of 2010. (Briefing note: DealerTrack (TRAK) disclosed it and Asbury concluded that it is not economic for DealerTrack to tailor its DMS to meet Asbury's new requirements... see 16:11 comment for details)
16:32
FINL Finish Line beats by $0.09, reports revs in-line (14.34 -0.46)
Reports Q1 (May) earnings of $0.25 per share, $0.09 better than the Thomson Reuters consensus of $0.16; revenues rose 9.0% year/year to $282.4 mln vs the $284.5 mln consensus. June Sales Update: Comparable store net sales on a month-to-date basis for the period of May 30 to June 22, increased 7.0% compared to a 12.5% decline for the same period one year ago.
16:31
OME Omega Protein announces shrimp hull processing project in Mississippi (4.08 +0.01)
Co announced that it will build and operate a shrimp hull processing facility at its Moss Point, Mississippi facility. The co plans to install and operate shrimp hull processing equipment and then process shrimp hulls at its facility into high quality marine ingredients. The shrimp hull raw material will be provided for no cost by Mississippi shrimp processors who will be able to conveniently process those hulls at co's facility without fees, rather than pay disposal fees to third-party landfills.
16:30
CPB Campbell Soup agrees to sell German Village Products Pasta Plant; financial terms not disclosed (36.46 -0.29)
16:30
JAZZ Jazz Pharma's JZP-6 to be reviewed at a joint meeting of the FDA's arthritis advisory committee and drug safety and risk management advisory committee on August 20, 2010 (8.19 -0.01)
Co announced that the U.S. Food and Drug Administration's (FDA) Arthritis Advisory Committee and Drug Safety and Risk Management Advisory Committee will review JZP-6 (sodium oxybate) for the treatment of fibromyalgia at a joint meeting on August 20, 2010.
16:22
RIMM Research In Motion beats by $0.04, misses on revs; guides Q2 EPS above consensus, revs in-line (58.59 -1.04)
Reports Q1 (May) earnings of $1.38 per share, $0.04 better than the Thomson Reuters consensus of $1.34; revenues rose 23.7% year/year to $4.24 bln vs the $4.35 bln consensus. Co issues mixed guidance for Q2, sees EPS of $1.33-1.40 vs. $1.31 Thomson Reuters consensus; sees Q2 revs of $4.4-4.6 bln vs. $4.5 bln Thomson Reuters consensus. Co authorized a share repurchase program to purchase for cancellation up to approximately 31 mln common shares. Co reports Q1 gross margins of 45.4% vs 44.5% company guidance. Co reports Q1 units shipped of 11.2 mln vs 11.2-11.8 mln guidance. Co reports Q1 net subscriber adds of 4.9 mln vs 4.9-5.2 mln guidance
16:22
O Realty Income prices $250 mln of 5.75% senior unsecured notes due 2021 (30.65 -0.36)
16:20
YHOO Yahoo! elects president and CEO of Intuit and CEO of International Game Technology to its board (14.83 -0.40)
Co announced that Brad Smith, president and CEO of Intuit (INTU), and Patti Hart, CEO of International Game Technology (IGT), have been elected to its Board of Directors.
16:19
SNX Synnex beats by $0.02, misses on revs; guides Q3 EPS in-line, revs below consensus (25.39 -0.76)
Reports Q2 (May) earnings of $0.70 per share, $0.02 better than the Thomson Reuters consensus of $0.68; revenues rose 12.8% year/year to $2.03 bln vs the $2.06 bln consensus. Co issues mixed guidance for Q3, sees EPS of $0.72-0.75 vs. $0.75 Thomson Reuters consensus; sees Q3 revs of $2.05-2.15 bln vs. $2.17 bln Thomson Reuters consensus.
16:18
SNX Synnex announces the retirement of Chairman of the Board Robert T. Huang; Dwight A. Steffensen to become non-executive Chairman of the Board (25.39 -0.76)
16:16
RIMM RIM's Board of Directors today has also authorized a share repurchase program to purchase for cancellation up to approximately 31 million common shares. -Update-
16:15
AYR Aircastle secures $108 mln pre-delivery payment financing facility (8.85 -0.29)
Co announced that it signed a credit agreement for a $108 million pre-delivery payment financing commitment from Sumitomo Mitsui Banking Corporation ("SMBC") with respect to six new Airbus A330-200 passenger aircraft scheduled for delivery on long-term leases to South African Airways PTY LTD during 2011.
16:08
FSII FSI Intl received an order for its ORION single wafer processing system (4.58 -0.07) -Update-
Co announced it has received an order for its ORION single wafer processing system from a second major semiconductor foundry based in Asia. The ORION system is scheduled to ship later this summer.
16:08
TIBX TIBCO Software beats by $0.02, beats on revs (11.38 -10.10)
Reports Q2 (May) earnings of $0.15 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.13; revenues rose 21.4% year/year to $173.3 mln vs the $161.4 mln consensus.
16:08
AVAV AeroVironment beats by $0.12, beats on revs; guides FY11 revs in-line (23.26 -0.16)
Reports Q4 (Apr) earnings of $0.71 per share, $0.12 better than the Thomson Reuters consensus of $0.59; revenues rose 30.8% year/year to $99.4 mln vs the $95.9 mln consensus. For fiscal year 2011, the Company expects to achieve revenue growth of 10% to 15% over fiscal year 2010, with an operating income margin between 12% and 14%. This calculates to roughly revs of $274.45-286.92 vs. $285.26 mln Thomson Reuters consensus.
16:07
XOM Exxon Mobil: Catterton Backs Mid-Atlantic convenience stores to acquire Uppy's Convenience Stores and a portfolio of ExxonMobil Sites (60.05 -1.05)
Catterton Partners, the leading consumer-focused private equity firm in North America, announced today that Mid-Atlantic Convenience Stores has acquired a majority interest in Uppy's Convenience Stores and 170 convenience stores/fuel stations from the Exxon Mobil Corporation (XOM). The transaction creates a leading convenience store operator in the Mid-Atlantic region with more than 200 convenience store operations in Maryland, Virginia and Delaware. Terms of the transaction were not disclosed.
16:06
ORCL Oracle beats by $0.06, beats on revs (22.22 -0.46)
Reports Q4 (May) earnings of $0.60 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.54; revenues rose 39.9% year/year to $9.6 bln vs the $9496.7 mln consensus. ORCL reports Q4 non-GAAP operating margin of 46.0% vs 42.2% consensus; co reported 45% last qtr and 51.1% prior Q4. Non-GAAP software license updates and product support revenues were up 13% to $3.5 billion. "We estimate that Sun contributed over $400 million to non-GAAP operating income in our Q4," said Oracle President, Safra Catz. "This compares with a loss in Sun's quarter ending June of last year, when Sun was an independent company. Now that Sun is profitable, we have increased confidence that we will meet or exceed our goal of Sun contributing $1.5 billion to non-GAAP operating income in FY2011, and $2.0 billion in FY2012."
16:05
KBR KBR awarded contract by Petroleo Brasileiro (PBR) for development of Grassroots Ammonia Plant (21.98 -0.03)
16:05
TOWN Towne Bank announces cash dividend of $12.50 per share on on its Series B fixed-rate non-cumulative perpetual preferred stock (14.56 -0.43)
16:05
CDE Coeur begins production at New Kensington gold mine in Alaska (16.03 -0.09)
Co announced that production has commenced ahead of schedule at its Kensington Gold Mine in Alaska. The Co anticipates that Kensington will produce 50,000 ounces of gold during the remainder of 2010 and will average ~125,000 ounces of gold annually over the mine's initial 12.5 year life. Once in full production, cash costs are expected to average ~$490 per ounce over the mine life. Co said, "Long-life pure gold mine to have major positive impact on Southeast Alaska economy."
16:04
FUQI Fuqi Intl announced Nasdaq granted extension until September 28, 2010 to regain compliance (8.21 -0.22) -Update-
16:03
ACN Accenture beats by $0.04, beats on revs; guides Q4 revs below consensus (37.54 -0.63)
Reports Q3 (May) earnings of $0.73 per share, $0.04 better than the Thomson Reuters consensus of $0.69; revenues rose 8.3% year/year to $5.57 bln vs the $5.46 bln consensus. Co issues downside guidance for Q4, sees Q4 revs of $5.15-5.35 bln vs. $5.36 bln Thomson Reuters consensus.
16:03
IMGN Immunogen earns milestone with start of SAR650984 clinical trial; event triggers a $1 mln milestone payment to ImmunoGen (9.85 +0.32)
Co announced that sanofi-aventis has initiated a Phase I clinical trial with SAR650984, an investigational antibody that targets cancer cells expressing the CD38 protein antigen. This event triggers a $1 mln milestone payment to ImmunoGen.
16:03
FSII FSI Intl beats by $0.02, beats on revs; guides AugQ revs in-line (4.58 -0.07)
Reports Q3 (May) earnings of $0.18 per share, $0.02 better than the Thomson Reuters consensus of $0.16; revenues rose 85.8% year/year to $28.7 mln vs the $28.1 mln consensus. Co issues in-line guidance for Q4 (Aug), sees Q4 revs of $27-30 mln vs. $29.4 mln Thomson Reuters consensus.
16:02
FCEL FuelCell Energy announces proposed public offering of common stock (1.50 -0.08)
Co also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering to cover over-allotments, if any.
16:02
NCS NCI Building Sys Purchases Coil Coating Facility for $4.9 mln in cash (8.91 -0.23)
Co has completed the purchase of a coating facility located in Middletown, Ohio. The agreement with MSC Pre Finish Metals, a subsidiary of Material Sciences Corporation, included MSC's Middletown, Ohio facility and substantially all of the related operating assets for $4.9 million in cash. The purchase includes a 170,000 square foot coil coating plant that had been idled by MSC, situated on approximately 21 acres of land.
16:02
BBI Blockbuster announces preliminary results from shareholder meeting; approved combining Class A and B common stock, and option for reverse split (0.29 0.00)
16:01
SYUT Synutra announces follow-on public offering pursuant to previously filed registration statement (20.89 -0.35)
16:01
FUQI Fuqi Intl receives extension from Nasdaq to file financial reports (8.21 -0.22)
Co announces that The Nasdaq Stock Market has granted to the Company an extension until September 28, 2010 to regain compliance with Nasdaq listing standards. As previously disclosed, the Company received notification letters from Nasdaq stating that the Company is out of compliance with Nasdaq Marketplace Rule 5250(c)(1), which requires timely filing of SEC periodic reports, with respect to the filing of the Company's Form 10-K for fiscal 2009 and Form 10-Q for the first quarter 2010.
16:00
CMI Cummins agrees to provide advanced emission technology to JV partner in Russia (71.32 -1.83)
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