Briefing.com: Hourly In Play (R) – 16:00 ET

Sep 10, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 10-Sep-10 16:00 ET

15:47

Events and conferences of interest for next week

Events and conferences of interest for next week, September 13-17, are listed below. For a complete list of next week's events, please see the events calendar.

Monday:

PFE, MRK, ABT at Morgan Stanley Global Healthcare Conference

DNDN at Rodman & Renshaw Global Investment Conference

Tuesday:

V, JPM, PFG at Barclays Capital Financial Services Conference

JNPR, MRVL, NTAP at Deutsche Bank Securities Inc. Technology Conference

Wednesday:

Chicago Fed Mortgage Hearing

AYE, AEP, RIG at Barclays Capital Energy/Power Conference

CMCSA, VZ, Q at Bank of America Merrill Lynch MEDIA, COMMUNICATIONS & ENTERTAINMENT CONFERENCE

Thursday:

Fed's Tarullo

BRCD Analyst Meeting

Friday:

CERN, DNEX, CNC at Stifel Nicolaus Healthcare Conference

AGP Analyst Meeting

15:40

USO Global, sector, & commodity ETF money flows- Energy Complex (USO, UGA, OIH) leads all groups wire to wire; Cocoa (NIB) underperforms all commodities, trading to fresh 52-week lows -Technical-

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

crude/WTI oil- USO +2.75%, OIL +3.25%, oil drillers & energy components- OIH +2.75%, XES +2.0%, XOP +1.25%, XLE +1.0%, natural gas- UNG +2.50%, RBOB gasoline- UGA +2.25%, heating oil- UHN +1.75%, iShares S Africa- EZA +1.50%, GSCI commod. index- GSG +1.50%, biotechnology- IBB +1.0%, XBI +1.50%, aerospace & defense- PPA +1.25%, iShares Mexico- EWW +1.0%, iShares Sweden- EWD +1.0%, ISE Revere natural gas index- FCG +1.0%

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

cocoa- NIB -2.75%, Vietnam- VNM -2.25%, VIX vol index- VXX -2.0%, VXZ -0.25%, semis- XSD -1.75%, SMH -1.25%, IGW -1.25%, palladium- PALL -1.0%, platinum- PPLT -0.75%, copper- JJC -0.50%, US Treasuries & fixed income- TLT -0.50%, TLH -0.50%, IEF -0.25%, Pound/Sterling currency shares- FXB -0.50%, SPDRS utilities- XLU -0.50%

15:30

Earnings Preview for the week of Sept 13th-17th

Companies reporting earnings the week of Sept 13th-17th include: Monday: LRN, MTRX, GCOM, and FUL Tuesday: BBY, CBRL, KR, WNI, MDZ, and PLL Wednesday: AIR, APOG, CLC, and DBRN Thursday: FDX, MCS, PIR, CKR, DDMX, MLHR, ORCL, and RIMM Friday: No companies are currently scheduled to report

14:59

SHLD NASDAQ 100 (NDX) strength & weakness- Retailers (SHLD, SBUX, BBBY) continue to post leadership; Semis (MXIM, MRVL, KLAC) remain under pressure approaching today's final hour of trade -Technical-

NDX 10 Best % Performers:

SHLD, NIHD, ORCL, CELG, CA, FLIR, BBBY, SYMC, SBUX, CMCSA

NDX 10 Worst % Performers:

MXIM, MCHP, DELL, SNDK, RIMM, LLTC, MRVL, ADBE, LOGI, KLAC

NASDAQ A/D 1:1

NASDAQ TRIN +1.65

14:56

MRK Dow 30 (DJX) strength & weakness- Big Pharma (MRK) now leads all percentage gainers approaching today's final hour of trade; Technology (HPQ, MSFT), and now Financials (AXP, JPM, TRV) display weakness -Technical-

DJX 5 Best % Performers:

MRK, CVX, IBM, MMM, HD

DJX 5 Worst % Performers:

HPQ, AXP, JPM, MSFT, TRV

NYSE A/D @ +2:1

NYSE TRIN +0.70

14:45

SPY Third time the charm as S&P edges above Thur/early Friday high of 1110.27 -- session high 1110.38 -Update- -Technical-

Dow +42 and Nasdaq +6.4 have not yet confirmed the move.

14:41

CBAK China BAK Battery awarded new contract to supply batteries to Chery Automobile (1.83 +0.16)

Co announced that the Company's Tianjin facility was awarded a new contract by Chery Automobile, to supply high-power batteries used in manufacturing electric cars. As per the contract, China BAK will supply 110 units of lithium-ion power batteries, which will be used by Chery to manufacture electric cars in its December quarter. China BAK will deliver these batteries to Chery in December 2010. Co stated "This is a repeat order and there is a potential that it will lead to a large scale supply contract."

14:38

COMDX NYMEX Energy Closing Prices

Crude oil settled higher by $2.14 to $76.39, natural gas ended up 11.5 cents to $3.883, heating oil closed up 3.39 cents to $2.1023, while RBOB gasoline gained 3.61 cents to finish at $1.9715 (all Oct contracts).

14:30

COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices

December corn closed 8 cents higher at $4.7875 per bushel, November soybeans closed 13.25 cents lower at $10.3275 per bushel, Dec wheat closed 1.5 cents higher at $7.395 per bushel, October ethanol closed $0.05 higher at $1.977, October world sugar futures closed 0.30 cents higher to 22.73 cents.

Corn closes higher following this morning's bullish USDA report. (see 09:31 comment).

14:10

AZN AstraZeneca announced that the FDA has approved the 500mg dose of FASLODEX injection (51.82 +0.39)

Co announced that the FDA has approved the 500mg dose of FASLODEX Injection, replacing the previously approved monthly dose of 250mg, for the treatment of hormone receptor-positive metastatic breast cancer in postmenopausal women with disease progression following antiestrogen therapy.

13:49

MDCO The Medicines Co announces APP motion to intervene denied (14.00 +0.83)

Co announced that the U.S. District Court for the Eastern District of Virginia denied APP Pharmaceuticals, LLC's motion to intervene for the purpose of appeal in a case between The Medicines Company and the U.S. Patent and Trademark Office, the FDA and the U.S. Department of Health and Human Services. The Court ruled on August 3 ordering the U.S. Patent and Trademark Office to consider The Medicines Company's Angiomax patent term extension application timely filed. The lawsuit challenged the PTO's denial of the application for an extension of the term of U.S. Patent No. 5,196,404, the principal U.S. patent that covers Angiomax.

13:48

STD Banco Santander disclosed earlier that it will acquire 70.36% of the Polish institution Bank Zachodni WBK for ~$3.74 bln in cash and stake in BZ WBK Asset Management for ~$191 mln in cash (12.61 +0.13)

Co disclosed earlier that it has reached agreement with Allied Irish Banks (AIB) to acquire 70.36% of the Polish institution Bank Zachodni WBK for an amount of ~EUR2.938 bln (~$3.74 bln) in cash. The purchase of BZ WBK will be implemented by means of a tender offer for 100% of the capital, in which AIB will necessarily tender its stake. Additionally, Santander will acquire AIB's 50% stake in the company BZ WBK Asset Management, for EUR150 mln (~$191 mln) in cash.

13:43

TECHX Relative sector weakness in recent action in Energy XLE / OIH and Utility UTIL / XLU -Update- -Technical-

13:41

SPY Further upticks off midday lows with Nasdaq Comp +0.4 back in positive territory -- Dow +38, S&P +4.7 -Update- -Technical-

Relative sector strength on this move (outperforming the S&P) has been noted in Internet FDN, Materials XLB, Technology XLK, Disk Drive, Networking, Ag/Chem MOO.

13:40

AAU Almaden Minerals discloses intent of raising $7.5 mln for ongoing exploration and development activities on Almaden's Mexico projects; placement consists of 3 mln shares at $2.5/share (2.62 +0.05)

13:39

IWM iShares Russell 2000 hovering just above flat line within week long range (63.62 +0.10) -Technical-

The IWM was higher three of the previous four days but little has been accomplished as it has formed a narrowing trading range (triangle) between its 200 day sma on the upside and its 50 day ema/sma on the downside. While it may prove difficult to see much follow through on a low volume Friday during a holiday shortened week in the midst of a religious holiday, we have well established parameters to monitor (Click for chart).

13:34

COMDX COMEX Metals Closing Prices

Gold finished lower by $2.90 to $1248.00, silver closed down 1.5 cents to $19.84, and copper shed 3.7 cents to end at $3.4065 (all Dec contracts).

12:45

ENH Endurance Specialty acquires renewal rights for Glacier Re International reinsurance portfolio; anticipates the transaction will generate $25-30 million of gross written premiums per annum (37.67 +0.21)

Co announced that it has acquired a portion of Glacier Re's international and U.S. property catastrophe and global specialty reinsurance business through a quota share treaty and renewal rights purchase agreement. Effective immediately, Endurance will reinsure, on a quota share basis, select treaties within Glacier Re's portfolio. Endurance anticipates the transaction will generate $25 million to $30 million of gross written premiums per annum. Endurance will not assume prior loss reserve liabilities as part of this transaction.

12:44

ABB ABB Ltd highlights mid-term growth opportunities at Capital Markets Day (20.35 -0.11)

Co stated at Capital Markets Day: We are today in a great position to benefit from the most important market trends in the industry, such as energy efficiency, industrial productivity, changing power requirements and the continuing strength of emerging economies..Our short-cycle businesses continue their robust recovery, but the long-cycle infrastructure business still faces headwinds... The company's cost savings program remains on track to deliver $3 billion in cost reductions by the end of 2010...In the medium term, political action to reduce global CO2 emissions will continue to drive demand for renewable energies. However, the need to integrate energy sources such as wind and solar power into existing electricity grids is also creating significant business and technology challenges for its power customers... aims to increase its share in a market of more than $100 billion growing 5-10 percent a year... Although the third quarter EBIT margin is traditionally weaker than Q2 due to a different business mix, ABB expects its Q3 2010 revenues in local currencies and EBIT margin adjusted for derivative transactions and restructuring-related costs to be higher than in the same quarter in 2009.

12:41

EOG EOG Resources sets new high, approaching last wk/this wk highs (91.29 +1.92) -Technical-

Follow through gains in recent trade leave EOG slightly under the highs of the last two weeks (session high 91.29) and its 20 ema in the 91.31/91.50 zone.

12:27

SHLD NASDAQ 100 (NDX) strength & weakness- Retailers (SHLD, SPLS, BBBY) continue to hold gains; Semis (MCHP, MXOM, KLAC) under notable pressure -Technical-

NDX 10 Best % Performers:

SHLD, FLIR, ORCL, SBUX, SPLS, FWLT, CA, BBBY, VMED, WCRX

NDX 10 Worst % Performers:

MCHP, MXIM, STX, LLTC, DELL, RIMM, KLAC, LRCX, MRVL, SNDK

NASDAQ A/D @ 1:1

NASDAQ TRIN 1.90

12:25

CVX Dow 30 (DJX) strength & weakness- Energy (CVX) maintains leadership here @ midday; Technology (CSCO, HPQ, MSFT) remains weak -Technical-

DJX 5 Best % Performers:

CVX, IBM, GE, HD, MRK

DJX 5 Worst % Performers:

HPQ, CSCO, TRV, AXP, MSFT

NYSE A/D @ +1.5:1

NYSE TRIN +0.65

12:17

QQQQ Nasdaq Comp -5.5 probes support -Technical-

Noted first level support for the Nasdaq Comp at 2230/2228 and have seen a test of this level in recent trade (session low 2229) as Semi SMH -2.4% has continued to weigh. Intraday will need to see a push back through the 2237/2240 area to neutralize the weaker price action. A secondary support zone is at 2222/2215 which marks congestion and its 50/200 ema.

12:09

European Markets Closing Prices

European markets are now closed; stock markets across Europe performed as follows: UK's FTSE: +0.1% Germany's DAX: -0.1% France's CAC: +0.1% Spain's IBEX: -0.2% Portugal's PSI: +0.0%

11:52

SPY Stock indices extend retreat off morning highs, Nasdaq -1.8 back in the red due to Semi SMH -2% -- Dow +20, S&P +2.6 -Update- -Technical-

11:31

XLE Energy Select Sector continues to display relative strength (54.56 +0.60) -Technical-

Solid performance for the XLE from the opening bell with it currently hovering slightly under the morning high, Thursday's peak and its 200 ema at 54.60/54.63. The next chart point of interest above is at 54.85 which marks the Aug gap top -- RIG +8.3%, CVX +1.4%, MRO +1.8%, OXY +1.6%, SLB +1.3%, APA +1.2%, APC +1.1%.

11:27

PM Philip Morris International increases quarterly dividend to $0.64 per share from $0.58 per share (54.43 +0.70)

11:25

SCOK SinoCoking and Coke Chemical Industries announces coal supply agreement with Zhengyun Coal Distribution; co guides next FY's revs and net income (11.24 -0.06)

Co announces an agreement with Zhengyun Coal Distribution to purchase up to 3 mln metric tons of raw and clean coal annually. The strategic cooperate agreement with Zhengyun Coal will provide co with up to 2 million metric tons of raw coal and 1 million metric tons of washed coal. Pursuant to this strategic agreement, co has signed monthly purchase orders for August and September deliveries for raw coal at $87 per metric ton, and has also orally reached an agreement to set the washed coal price at $141-$151, both of which are below current market prices and at levels enjoyed by large state-owned enterprises in China. Zhengyun Coal has also agreed verbally to give co the option to take monthly delivery up to 250,000 metric tons of raw and washed coal. Based on the strategic agreement, co looks to expand its sales and distribution networks in central, southern and eastern China. Assuming co takes full delivery of 2 metric mln tons and 1 mln metric tons of raw and clean coal, respectively, management expects that it could generate ~$146 mln in revenue and $7 mln in net income during the coming fiscal year, based on the price levels of the Company's August and September purchase orders.

11:18

COMDX Gold pushes into positive territory, recouping earlier losses; now up $1.10 to $1252.00

11:17

SMH Semiconductor Hldrs ETF continues to be a drag (25.02 -0.39) -Update- -Technical-

The SMH bounced more than 1% after a weak start but failed to build on the recovery with it recently sliding to a new session low of 25.01. The next support of interest is at 24.91/24.86 which marks the low for the week and the 62% retrace of the Aug-Sep advance -- NSM -7.2%, ADI -3.1%, AMD -2%, KLAC -2%, NVLS -1.9%, LLTC -1.9%, LSI -1.9%, MU -2.8%, MXIM -2.8%, SNDK -1.2%, XLNX -1.1%.

11:08

UVV Universal Corp's Deltafine fine reduced to EUR6.12 mln from EUR11.88 mln (37.75 +0.73)

Co discloses in 8-K that, on 9/8/2010, the General Court issued its decision to reduce the amount of the Deltafina fine to EUR6.12 from EUR11.88 mln. The General Court held in part that the Commission erred in finding Deltafina, a subsidiary of co, acted as the leader of the Spanish cartel, and that the European Commission's corresponding increase of the underlying fine by 50% was not justified. Co recorded a charge of about EUR12 mln (approximately $14.9 mln at the September 2004 exchange rate) in 2Q05 to accrue the full amount of the fines assessed against the co's subsidiaries.

11:00

SPY S&P +5.6 back for another try at yesterday's high -Update- -Technical-

The index touched yesterday's high of 1110.27 at 10:30 (session high 1110.27) and paused but has edged back to this level again in recent trade. A resistance zone of note above is at 1113/1115 (congestion, flat line for the year, 200 sma).

10:40

USO Global, sector, & commodity ETF money flows- Energy Complex (OIL, USO, UNG, UGA) leads all sectors in morning trade; Cocoa (NIB) weakest commodity into fresh 52-week lows -Technical-

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

crude/WTI oil- USO +2.50%, OIL +3.0%, natural gas- UNG +3.0%, oil drillers & energy components- OIH +2.25%, XES +1.50%, RBOB gasoline- UGA +2.0%, sugar- SGG +2.0%, coffee- JO +1.75%, gold/silver metals & mining- XME +1.75%, GDXJ +1.25%, iShares S Africa- EZA +1.50%, homebuilders & home construction- XHB +1.50%, ITB +1.0%

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

coca- NIB -2.50%, Vietnam- VNM -2.0%, VIX vol index- VXX -2.0%, VXZ -0.25%, agriculture & grain complex- JJG -1.50%, DBA -0.25%, semis- XSD -1.0%, SMH -0.75%, IGW -0.50%, US Treasuries- & fixed income- TLT -0.75%, TLH -0.50%, IEF -0.50%

10:34

SPY Fresh session highs for stock indices in recent action -- Dow +40, Nasdaq +9.8, S&P +5.9 is just under yesterday's peak -Update- -Technical-

10:29

COMDX Crude oil punches through $76 to put in highs at $76.12; now higher by $1.81 to $76.06

10:28

FLIR NASDAQ 100 (NDX) strength & weakness- Industrial Goods (FLIR) leads all percentage gainers, Retailers (SHLD, BBBY) also strong -Technical-

NDX 10 Best % Performers:

FLIR, SHLD, ORCL, EXPE, CEPH, BBBY, LINTA, PCAR, APOL, JOYG

NDX 10 Worst % Performers:

MCHP, DELL, ADBE, LOGI, RIMM, MXIM, STX, QCOM, INTU, LLTC

NASDAQ A/D @ +1.5:1

NASDAQ TRIN +1.55

10:26

CVX Dow 30 (DJX) strength & weakness- Energy (CVX) leads all percentage gainers through today's 1st hour of trade; Technology names (CSCO, HPQ, MSFT) lag -Technical-

DJX 5 Best % Performers:

CVX, HD, CAT, BAC, IBM

DJX 5 Worst % Performers:

HPQ, CSCO, TRV, MSFT, T

NYSE A/D @ +2.5:1

NYSE TRIN +0.75

10:21

IBM IBM extends early gain near this wk/last wk highs at 127.57/127.60 -- session high 127.50 (127.48 +1.12) -Technical-

Note that its 200 sma comes into play above at 127.84.

10:19

CREE Cree extends ugly week back near retracement (48.41 -0.99) -Technical-

The stock has been hammered this week with it down more than 15% of Monday's early high (-36% off July high, -42% off April high). This morning's downside extension leaves it near the 50% retracement of the entire Dec 2008 to April 2010 surge at 47.98 (session low 48.17).

10:15

WFC Wells Fargo edges to new session high of 25.93, hovering modestly under the weekly peak at 26.01 (25.91 +0.22) -Technical-

Note that the top of its now 5 day range/Sep high and its 50 ema/sma is just above at 26.10/26.15.

10:11

GROW CORRECTION: U.S. Global Investors reports Q4 EPS of $0.06 vs. $0.06 in EPS in last year's quarter; revs grew 33.1% to $8.61 mln (6.60 +0.13)

Co reported full year 2010 EPS of $0.35 vs ($0.15) last year... Yesterday, we reported that GROW reports Q4 EPS of $0.006 vs. $0.06 in EPS in last year's quarter, which was incorrect. The correct Q4 EPS the company reported was $0.06, which we have in our current headline. We have removed the original story.

10:05

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: MA (+3.81), CF (+3.72), LULU (+3.62), RIG (+1.93), ESI (+1.94), AMZN (+1.74), OXY (+1.13), V (+1.26)

Point Losers: WPI (-1.33), TRW (-1.27), PCG (-1.21), CREE (-1.01), EEP (-0.91)

10:03

CAL Continental Air and ~3,700 technicians and related employees reach tentative agreement on new labor contract (21.85 -0.29)

10:02

TECHX Sector Leadership -Update- -Technical-

Solid performance in Education (EDMC +4.2%, LINC +4.2%, ESI +3.6%, CPLA +3.3%, COCO +2.7%, STRA +2%, APOL +1.9%, DV +1.2%, LOPE +1.1%), Drillers (RIG +3.6%, DO +1.14%, NE +1.4%, HAL +1.1%, ATW +1.1%, SLB +0.7%), Refiners (FTO +4.4%, HOC +3.1%, ALJ +2.4%, MRO +1.7%, TSO +1.7%, VLO +1.6%, WNR +1.4%

10:00

DWA Dreamworks Animation enters into a license agreement with POWER A (30.88 +0.08)

POWER A, the retail consumer products brand of Bensussen Deutsch & Associates entered into a license agreement with DreamWorks Animation. It is first licensee of video game accessories for DreamWorks Animation.

09:52

SPY S&P +3.4 chopping at steady to slightly higher levels holding above important short term support at yesterday's late low -Update- -Technical-

The Finance/DB led decline later yesterday triggered a dip to 1101 in afternoon trade before a final hour bounce. This morning the upside has been limited but a continued posture above this low keep the index positioned for follow through. Resistance is at Thursday's high (1110) followed by the 1113/1115 area (congestion, flat line for the year, 200 sma).

09:44

SLV Silver Trust ETF extends opening gains in recent trade (19.56 +0.24) -Technical-

Morning gains leave the SLV slightly under this week/52-wk highs from Wed/Thur at 19.63 -- PAAS, SIL, SLW, SSRI.

09:40

SPY Dow -4.3 joins Nasdaq -1.4 in the red -- S&P +0.3 -Update- -Technical-

09:38

SMH Semiconductor Hldrs ETF gaps lower amid NSM -4.7% and TXN -1.2% pressure (25.11 -0.30) -Technical-

09:37

SPY Mildly firmer start but Nasdaq +0.3 lagging amid Semi SMH -1.1% pressure -- Dow +7, S&P +1.2 -Update- -Technical-

09:16

DIN DineEquity plans to offer senior unsecured notes and commences tender offers and consent solicitation (36.89 )

Co announces that it plans to offer senior unsecured notes. Co intends to use the net proceeds from the offering, together with the net proceeds from other secured debt financing, to fund the previously announced tender offers and consent solicitation for certain series of its subsidiaries' outstanding securitization notes, to satisfy and discharge the indentures governing such securitization notes and to redeem, prepay or purchase any of such securitization notes that are not tendered.

09:01

GS Goldman Sachs names Jim O'Neill Chairman of Goldman Sachs Asset Management (149.14 )

Co announces that Jim O'Neill has been named Chairman of the business. Most recently, he was Head of Global Economics, Commodities and Strategy Research for co. He is also credited as the creator of the acronym BRICs.

08:59

BCE BCE Inc agreed to acquire remaining 85% of CTV for $1.3 bln in equity value and $1.7 bln in proportionate debt for a total transaction value of $3.2 bln (31.76 )

Co announces it has agreed to acquire 100% of CTV. The transaction gives Bell full ownership of Canada's best media assets to enhance the growth of Bell's TV, wireless and online services. Bell currently owns a 15% equity position in CTV and will acquire the remaining 85% for $1.3 bln in equity value from The Woodbridge Co. Including the value of Bell's present stake, the transaction has an equity value of $1.5 bln. Together with $1.7 bln in proportionate debt, the total transaction value is $3.2 bln.

08:48

EURX Eurand Correction: Our 7:00 comment incorrectly indicated that EURX's CEO resigned, when in fact it was the CFO that resigned (9.22 )

Co announced the resignation of its Chief Financial Officer, Mario Crovetto, effective January 2011. Eurand will begin a search for a new CFO immediately.

08:35

COMDX Gold futures drop to lowest levels of the morning at $1240.90; now lower by $9.30 to $1241.60

08:32

KV.A KV Pharm: FDA completes inspection; approval to return its first product to market (1.69 )

Co announces that it has received notice from FDA of the successful completion of an inspection of the co's facilities and approval to return its first product to market. The FDA undertook an inspection of the Company's quality systems, manufacturing processes and facilities. The co also received notification from the FDA of approval to ship into the marketplace the first product approved under the consent decree, i.e. Potassium Chloride.

08:32

BKH Black Hills Corp subsidiary Black Hills Power announces suspension of operations at its 62-yr-old, 34.5-megawatt Osage Power Plant beginning 10/1/2010, citing slow economic recovery (30.36 )

08:31

UTA Universal Travel to sell all of its 1,523 TRIPEASY Kiosks to Shenzhen Xunbao E-Commerce for approximately $5.9 mln in cash (5.04 )

08:31

WFR MEMC Elec signs memorandum of understanding for 400MW of solar projects with provincial government in Korea (10.69 )

08:30

MSN Emerson Radio Corp. appoints Andrew Davis CFO and Executive VP (2.48 )

Davis has served as Vice President, Finance and Corporate Controller of Emerson Radio since August 2007. In addition, Mr. Davis serves as the Secretary and Treasurer of Emerson Radio.

08:17

JKS JinkoSolar Holding passes California Energy Commission's module tests and becomes eligible for California's solar electric incentive programs in Senate Bill 1 (24.68 )

08:15

On the Wires

eBay (EBAY) said today that Chancellor William B. Chandler III of the Delaware Court of Chancery ruled in co's favor in a shareholder suit filed against Craigslist, and its majority shareholders Jim Buckmaster and Craig Newmark. The ruling overturns a series of unlawful transactions undertaken by Craigslist's majority shareholders to dilute eBay's minority share in the company. The ruling rescinds a poison pill and right of first refusal adopted by the controlling shareholders in January 2008 and restores eBay's 28.4% share in Craigslist...Kayne Anderson MLP Investment Company (KYN) announces that the underwriters of its common stock offering exercised their option to purchase an additional 793,877 shares at a price of $26.30 per share. The option was granted to the underwriters in connection with the Company's public offering of 7,250,000 shares of common stock which closed on 8/11/2010. Co received ~$20 mln in total net proceeds from the over-allotment option which will be used to make additional portfolio investments that are consistent with co's investment objective and for general corporate purposes...Rentrak Corporation (RENT) announces that Smithsonian Channel, a joint venture between Showtime Networks and the Smithsonian Institution, will employ Rentrak's TV Essentials service to analyze the viewing habits of its audience helping the Smithsonian Channel to attract advertisers to its network.

08:10

On the Wires

Gulf Resources (GFRE) announced that it has engaged Deloitte Touche Tohmatsu to perform an independent assessment over the Company's internal controls...Aerosonic Corporation (AIM) announced the signing of an agreement with Kellstrom Defense Aerospace to represent and distribute the co's products...Zoo Entertainment (ZOOG) announced that its indiePub Games subsidiary has acquired a number of innovative titles to be released by Zoo on various platforms. Ranging in genre from strategy and action to spot-the-difference, the deals for Go to Hell!, Summoner World and Dreams are a direct result of indiePub's unique platform that supports independent developers, bringing their innovative ideas to console and the mass market.

08:09

CROX Crocs reaffirms guidance ahead of conference (11.63 )

Co reaffirms guidance for Q3 (Sep), sees EPS of $0.22-0.24 vs. $0.24 Thomson Reuters consensus; sees Q3 (Sep) revs of ~$205 mln vs. $205.78 mln Thomson Reuters consensus.

08:03

FUQI Fuqi Intl announces formal SEC investigation relating to its failure to timely file required periodic reports (4.80 )

Co announces that it was notified by the SEC of a formal, nonpublic investigation, and has received a subpoena from the SEC for certain documents, relating to its failure to timely file required periodic reports. The co intends to fully cooperate with the SEC.

08:01

EFUT eFuture COO, Deliang Tong, resigns; Tong to continue to serve as director; Dehong Yang, President, to take over role of COO along with existing role (5.50 )

07:46

POL PolyOne announces offering of $320 mln of Senior Notes due 2020 in connection with tender offer for its 8.875% Senior Notes Due 2012 (10.38 )

07:31

CNC Centene's IlliniCare selected by IL as one of two vendors to provide managed care services to ~40K Older Adults and Adults with Disabilities in 6 Chicago areas (21.33 )

07:31

ZGEN Zymogenetics: Bristol-Myers Squibb (BMY) commences cash tender offer to purchase all outstanding shares of common stock of ZGEN at $9.75/share (9.76 )

07:26

BP BP announced Q3 results will be released at Nov 2, one week later than previously indicated (38.02 )

07:19

FIZZ National Beverage Reports Q1 results (14.81 )

Reports Q1 EPS of $0.26 vs $0.25 two analyst est; revs +1.4% to $165.0 mln vs $166.22 mln two analyst est.

07:18

LULU lululemon athletica beats by $0.06, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY11 EPS above consensus, revs above consensus (35.85 )

Reports Q2 (Jul) earnings of $0.30 per share, $0.06 better than the Thomson Reuters consensus of $0.24; revenues rose 55.8% year/year to $152.2 mln vs the $145.9 mln consensus. Co issues guidance for Q3, sees EPS of $0.22-0.24 vs. $0.23 Thomson Reuters consensus; sees Q3 revs of $155-160 mln vs. $151.45 mln Thomson Reuters consensus. Co issues upside guidance for FY11, sees EPS of $1.18-1.22 vs. $1.15 Thomson Reuters consensus; sees FY11 revs of $645-650 mln vs. $635.15 mln Thomson Reuters consensus.

07:15

ACTL Actel confirms Q3 Guidance (15.40 )

Co reaffirms Q3 revs of +3-7% sequentially (vs 5.1% consensus) and gross margin of ~65%.

07:12

OXBT Oxygen Biotherapeutics misses single bottom line est (2.71 )

Reports Q1 EPS ($0.13) vs ($0.12) single est; net loss of $3 mln vs $2.4 mln YoY. The increase in net loss over the same period last year was primarily due to an increase in costs associated with our Phase II-b trial for traumatic brain injury, market analysis and direct marketing expenses for DERMACYTE cosmetics, and an increase in legal and accounting fees for services provided for filing registration statements and listing with the Swiss SIX Stock Exchange

07:02

ARG Airgas: All 4 leading proxy advisory firms recommend that airgas stockholders vote against APD's January meeting proposal (64.83 )

07:02

BWEN Broadwind Energy names Jesse Collins Executive Vice President & Chief Operating Officer (1.73 )

07:01

CNAM China Armco Metals provides impact on Jiangsu Province Power Restrictions; expected to impact its revenue in 2010 by as much as $40 million (3.82 )

Co announces that that the Jiangsu Provincial Government has scheduled rolling blackouts in September for the Lianyungang enterprise zone where its wholly owned subsidiary, Armet Renewable Resourced, operates its metal recycling facility. The energy restrictions will significantly reduce their recycling capabilities in the fourth quarter which is expected to impact its revenue in 2010 by as much as $40 million. This has caused management to revise its financial guidance for the full year of 2010 which is now expected to exceed $140 million with net income exceeding $8 million.

06:46

SOLR GT Solar announces the pricing of the secondary offering of 11 mln shares of its common stock at a price to the public of $7.39 per share (7.39 )

Co announces the pricing of the secondary offering of 11 mln shares of its common stock at a price to the public of $7.39 per share. All of the shares are being sold by one selling stockholder, GT Solar Holdings. Concurrently with the pricing of the underwritten public offering, co announces the pricing of its Mandatorily Exchangeable Notes due 2013 In connection with the exchangeable notes, the selling stockholder has agreed to sell 14 mln additional shares of co common stock to UBS Securities.

06:31

CPY CPI Corp announces extension of its Walmart (WMT) agreement through at least 1/2016 (22.08 )

06:19

On the Wires

JA Solar (JASO 7.16) announces financial partnership agreement with China Development Bank for up to RMB 30 bln of financing and credit facility...Rovi Corp (ROVI) doubles number of European content providers for TotalGuide.

06:12

S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +2.50.

06:12

Asian Markets

Nikkei...9239.2...+140.70...+1.50%. Hang Seng...21257.4...+90.10...+0.40%.

06:12

European Markets

FTSE...5483.5...-10.60...-0.20%. DAX...6191.3...-29.40...-0.50%.

06:09

RADS Radiant Systems prices 4,693,848 shares of common stock public offering (17.11 )

Co announces that it has priced an underwritten public offering of 4,693,848 shares of common stock at a price to the public of $17.00 per share.

06:07

HGRD Health Grades and Affiliates of Vestar Capital Partners announce extension of tender offer for shares of Health Grades (8.20 )

Mountain Acquisition and Mountain Merger Sub Corp., affiliates of Vestar Capital Partners formed for the purpose of acquiring Health Grades (HGRD) announced the extension of the offer period for the previously announced tender offer for all of the outstanding shares of common stock of HealthGrades, at a purchase price of $8.20 per share in cash, without interest and less any applicable withholding taxes, until 9:00 AM, New York City time, on Thursday, September 16, 2010.

04:52

CEO CNOOC Ltd appoints new CFO (117.36 )

Co announces that Zhong Hua will succeed Yang Hua as new CFO effective from 9/16/10. He is currently the Executive Vice President and CFO of China Oilfield Services.

02:10

NOK Nokia appoints Stephen Elop to President and CEO effective 9/21/10 (9.76 )

Co announces it has appointed Stephen Elop President and. Elop currently heads MSFT's Business Division.

01:49

KYN Kayne Anderson: exercise by the underwriters of the option to purchase additional common stock (25.65 )

Co announces that the underwriters of its common stock offering exercised their option to purchase an additional 793,877 shares at a price of $26.30/share. The option was granted to the underwriters in connection with the co's public offering of 7.25 mln shares of common stock which closed on August 11, 2010.

01:38

EEP Enbridge Energy reports crude oil leak in Romeoville, Illinois (54.76 )

Co announces a leak on Line 6A of the Lakehead System in Romeoville, Illinois. The line was shut down within minutes.

01:35

BTC Community Bankers Trust CEO steps down; implements expense reductions (1.15 )

Co announces that President and CEO George Longest has resigned. During the interim period, Rex Smith, III will assume the responsibilities. Smith is the current CBO. Longest will assist the transition and assume new responsibilities at a non-management level within the Bank. Additionally, the co also announces that it is implementing an expense reduction. This initiative will decrease expenses through the reduction of ~10% of its full-time positions. The eliminations will represent annual cost savings to the co of ~$2.3 mln. The co expects that the costs associated with the initiative will not materially affect its results for either Q3 or Q4.

01:27

EMMS Emmis Comms: Alden Global Capital announces inability to reach agreement on revised transaction with EMMS (1.22 )

Alden Global Capital announces that the proposed revised terms of the transaction to take private EMMS are not acceptable to Alden. It believes that the terms negotiated between JS Acquisition and such preferred holders would result in an amount of leverage on the company that would make the transactions unattractive to Alden.

01:21

EDMC Education Mgmt urges Department of Education to reconsider gainful employment rule (8.95 )

Co announces that is has provided an official response to the U.S. Department of Education's proposed rule defining "Gainful Employment." The co's response suggests that the Department does not have the statutory authority to enact the proposed regulations and requests that it postpone issuance of a final rule in order to collect and consider more appropriate and comprehensive data. In the event that the Department proceeds with the current proposed rulemaking, the co suggests modest modifications to the proposed regulations to address legal, policy, and fairness concerns.

01:18

MUR Murphy Oil adds new North American resource acreage (57.18 )

Co announces it has entered into an agreement with Kainaiwa Resources to acquire 129,280 acres of prospective oil and gas properties located in Alberta. The lease agreement will give MUR drilling rights on the property for 5 years with a minimum of 16 wells to be drilled during this time.

01:15

CASY Casey's General confirms discussions with 7-Eleven (43.95 )

Co announces that it has entered discussions with 7-Eleven regarding a potential transaction. On 9/2/10, CASY received an unsolicited preliminary proposal from 7-Eleven regarding a consensual transaction at $40/share in cash. While the Board reviewed the proposal and firmly believes that CASY value substantially exceeds $40/share, it has authorized discussions with 7-Eleven to explore whether a transaction can be reached that reflects the true value of CASY.

01:07

MDCO The Medicines Co provides PTO litigation update (13.17 )

Co announces that the U.S. Solicitor General has elected against appeal of the Court's August 3 decision ordering the U.S. PTO to consider the co's Angiomax patent term extension application timely filed. MDCO's lawsuit challenged the PTO's denial of the application for an extension of the term of the principal patent that covers Angiomax.

18:38

Futures are lower after hours: S&P 500 futures are -1.1 from fair value of 1098.7 and Nasdaq100 futures -0.87 points from fair value of 1884.12

18:06

VSEC VSE Corp: Energetics Inc awarded $21.7 mln DoE contract (28.90 +0.4) -Update-

Energetics Incorporated, a wholly owned subsidiary of VSE (VSEC), reported the award of a three-year $21.7 million contract to support the U.S. Department of Energy, Office of Electricity Delivery and Energy Reliability in Washington, DC.

18:00

AES AES announces call for redemption of all outstanding 8.75% second priority senior secured notes due 2013 (11.11 +0.09)

Co announced that the outstanding principal amount to be redeemed is ~$290 mln. The Notes will be redeemed on October 8, 2010 at a redemption price equal to 101.458% of the principal amount thereof, plus accrued interest.

17:21

GR Goodrich announces redemption of $257,460,000 aggregate principal of its outstanding 7.625% notes due in 2012; the redemption date is October 12, 2010 (70.06 -1.78)

17:07

TDW Tidewater announces agreement for new private placement financing (41.35 +0.18)

Co announced that it and a group of institutional investors have executed a note purchase agreement in regards to $425 mln of senior unsecured notes. The note purchase agreement contemplates closings on October 15, 2010 and December 30, 2010, when the co expects to issue a multiple series of notes totaling $310 mln and $115 mln, respectively.

17:07

CLDT Chatham Lodging Trust appoints Dennis M. Craven Chief Financial Officer (16.81 -0.06)

Co announced that Dennis M. Craven has been appointed as its new executive vice president and chief financial officer, effective September 9, 2010. Craven replaces Julio E. Morales, who will remain with the co in a transition capacity for 30 days. Craven previously served as executive VP and C.F.O. of Innkeepers USA Trust from March 2006 until the acquisition of Innkeepers by an affiliate of Apollo Investment in June 2007.

17:05

SEB Seaboard announce that it has entered into an agreement to purchase a 50% interest in Butterball, LLC, in partnership with the Maxwell Farms group (1659.00 -15.00)

17:02

TNDM Neutral Tandem to acquire Tinet SpA; TNDM expects the transaction to be immediately accretive to earnings per share in 2010 (10.96 -0.14)

Co announced it has entered into an agreement to acquire Tinet SpA, an Italian based global carrier exclusively committed to the IP Transit and Ethernet wholesale market. To acquire Tinet, TNDM will pay cash consideration of ~74.5 mln euros (~$94.9 mln), which reflects certain purchase price adjustments, the assumption of ~5.2 mln euros in cash (~$6.6 mln) and the assumption of ~18.2 mln euros in long-term debt (~$23.2 mln), which will be paid off at closing.

16:59

TRW TRW announced the underwritten public offering of 7,500,000 shares of its common stock (36.86 +0.44)

16:59

SKYW SkyWest reports combined August traffic for SkyWest Airlines and Atlantic Southeast Airlines (12.94 -0.06)

Co reported an 8.3% increase in departures to 85,788 for August compared to 79,180 for the same period last year. Passenger boardings for August increased 7.9% to 3,500,779 compared to 3,245,316 for the same period last year. SKYW also reported a 4.6% increase in revenue passenger miles (RPMs) for August, while available seat miles (ASMs) increased 5.8% compared to August 2009.

16:32

DX Dynex Capital increased the quarterly dividend on its common stock to $0.25 from $0.23 (10.42 +0.13)

16:32

ACI Arch Coal: Dugout Canyon Mine resumes Longwall production (20.80 -0.71)

Arch Coal's Canyon Fuel Company subsidiary today announced that its Dugout Canyon mine in Carbon County, Utah, has restarted its longwall mining system and is in the process of resuming production.

16:32

RAVN Raven Industries and Jacto announce new strategic precision ag partnership (35.17 -0.32)

Co and Jacto announce a strategic partnership in which Raven will be Jacto's precision ag partner for factory-installed components and the precision ag supplier for their global dealer network.

16:31

BLL Ball Corp has acquired an additional 10.1% eonomic interest in its Brazilian beverage packaging joint venture, Latapack-Ball Embalagens (58.84 +0.14)

16:30

BEN Franklin Resources reported preliminary month-end AUM by the co's subsidiaries of $600.4 bln at August 31, 2010 vs $495.7 bln at August 31, 2009 (104.99 +2.26)

16:30

TXN Texas Instruments narrows Q3 EPS to the range of $0.66-0.72 vs. $0.69 Thomson Reuters consensus, narrows revenues to the range of $3.62-3.78 bln vs. $3.69 bln consensus (23.84 +0.16)

Original outlook for Q3 was EPS in the range of $0.64-0.74 and revenues between $3.55-3.85 bln. Thomson Reuters consensus EPS $0.69 and revenues $3.689 bln.

16:22

CMO Capstead Mortgage declares Q3 dividend of $0.26/share, down from $0.36/share (11.81 +0.01)

16:16

FFIN First Financial to acquire Sam Houston Financial Corporation for ~$22.2 mln in cash and stock; expected to be finalized in Q4 (45.78 -0.26)

16:15

SIFI SI Financial adopted a Plan of Conversion and Reorganization (6.22 0.00)

Co nnounced that it, SI Bancorp, MHC (co's mutual holding company parent), and the Bank have adopted a Plan of Conversion and Reorganization providing for the MHC's conversion from mutual to stock form and the concurrent sale to the public of the MHC's approximate 61.9% ownership interest in the Company in a transaction commonly referred to as a "second step" conversion. As a result of the second step conversion, the Bank will reorganize as a wholly-owned subsidiary of a new stock holding company organized under Maryland law, also named SI Financial Group, and the MHC and the Company will merge out of existence.

16:15

ARG Airgas and Kiewit sgn three-year contract extension; the contract extension includes estimated annual revenues of $6 mln (64.83 +0.24) -Update-

16:07

SWHC Smith & Wesson beats by $0.01, reports revs in-line; guides Q2 revs below consensus; guides FY11 revs in-line (3.96 +0.10)

Reports Q1 (Jul) earnings of $0.06 per share, ex-items, $0.01 better than the Thomson Reuters consensus of $0.05; revenues fell 6.7% year/year to $94.9 mln vs the $95.2 mln consensus. Co issues downside guidance for Q2, sees Q2 revs of $97-$102 mln vs. $115.48 mln Thomson Reuters consensus. Co issues in-line guidance for FY11, sees FY11 revs of $430-$445 mln vs. $437.18 mln Thomson Reuters consensus. The company continues to expect total gross profit margin for fiscal 2011 to be between 32% and 33%. (SWHC is halted)

16:06

SRX SRA Intl's Era selected to provide a nationwide wide area multilateration solution in the Republic of Tajikistan for Tajikaeronavigation (20.05 -0.02)

16:04

INOC Innotrac Corp achieved 2010 Level 1 compliance validation with the Payment Card Industry Data Security Standard (1.11 0.00)

16:03

NSM National Semi beats by $0.02, reports revs in-line; guides Q2 revs below consensus (12.90 +0.01)

Reports Q1 (Aug) earnings of $0.36 per share, $0.02 better than the Thomson Reuters consensus of $0.34; revenues rose 31.0% year/year to $412 mln vs the $415.4 mln consensus. Co issues downside guidance for Q2, sees Q2 revs of $390-415 mln vs. $420.62 mln Thomson Reuters consensus. Q1 sales increased sequentially due primarily to demand from wireless handset and industrial markets, the two largest markets served by National. Q1 gross margin of 70.9 percent set a new record for the co, driven by improved manufacturing cost efficiencies from higher capacity utilization and benefits from manufacturing consolidation completed in the fourth quarter of fiscal 2010. "Our business model is working well with another quarter of revenue growth, 70 percent gross margins and over 36 percent operating margins. However, in the near term, slower growth in our end markets and distribution channel, along with some likely inventory reduction, will mute the seasonal growth that we would normally see in our business during this time of the year."

16:00

SWHC Smith & Wesson halted ahead of earnings (3.96 +0.10)

16:00

LSCC Lattice Semi reiterates guidance for Q3; Q3 revenue is expected to be flat to up 5% on a sequential basis vs consensus of growth of 3% (4.66 -0.06)

Gross margin percentage is expected to be ~59-61% of revenue. Total operating expenses are expected to be approximately $31.0 million.

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