Briefing.com: Hourly In Play (R) – 17:00 ET

Mar 08, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 08-Mar-10 17:00 ET

16:56

LTD Limited Brands announces amendment and extension to credit agreement (23.47 +0.19)

Co announced that it has concluded an amendment and extension of its existing amended and restated credit agreement dated as of February 19, 2009. Capitalized terms not defined herein have the meanings set forth in the Credit Agreement. Under the Amendment, the termination date of the Commitments of Lenders who consented to the Amendment is extended by two years (until August 1, 2014) and the aggregate amount of their Commitments is reduced from $873,333,333 to $800,000,000. The termination date (August 3, 2012) and aggregate principal amount ($126,666,667) of the Commitments of non-consenting Lenders are unchanged by the Amendment. The Amendment reduces the aggregate amount of the Commitments of the Lenders under the Credit Agreement from $1,000,000,000 to $926,666,667.

16:55

UMH United Mobile Homes reports Q4 funds from operations of $0.69 vs. $0.51 in the prior year; revs grew 23.6% to $7.6 mln (8.05 +0.02)

16:45

BNHNA Benihana announces summary judgment related to pending litigation by former Haru minority shareholders has been granted in all material aspects (5.08 +0.08)

Co announced that its motion for summary judgment in the pending litigation against it brought by the former minority shareholders of the Company's Haru operating segment has been granted in all material respects.

16:41

WPI Watson confirms filing of generic Opana ER application (40.00 -0.56)

Co confirmed that its subsidiary, Watson Laboratories, has been sued by Endo Pharmaceuticals Inc. and Penwest Pharmaceuticals in connection with the filing of Watson's Abbreviated New Drug Application for Oxymorphone Hydrochloride Extended-Release Tablets, 40mg. Watson's Oxymorphone Hydrochloride Extended-Release Tablets product is a generic version of Endo's Opana ER which is indicated for the relief of moderate to severe pain in patients requiring continuous, around-the-clock opioid treatment for an extended period of time. Opana ER had ~$245 mln in brand sales for the twelve months ending December 31, 2009, according to IMS Health.

16:35

GHDX Genomic Health announced the publication of positive results from a large international study which demonstrated that the Oncotype DX breast cancer Recurrence Score (19.84 -0.09)

Co announced the publication of positive results from a large international study which demonstrated that the Oncotype DX? breast cancer Recurrence Score? (RS) result is a significant independent predictor of distant recurrence in both node-negative and node-positive, hormone receptor-positive, postmenopausal breast cancer patients who are treated with either anastrozole or tamoxifen. The study, originally presented at the San Antonio Breast Cancer Symposium in 2008, was published online today in the Journal of Clinical Oncology.

16:33

TXN Texas Instruments narrows lower end of Q1 EPS and revs, in-line with consensus (24.69 -0.28)

Co narrows Q1 EPS to $0.48-0.52 vs. $0.49 First Call consensus, from $0.44-0.52; narrows Q1 revs to $3.07-3.19 bln vs $3.08 bln consensus, from $2.95-3.19 bln prior guidance.

16:33

WX WuXi PharmaTech reports Q4 EPS of $0.16 vs $0.16 First Call consensus; revs $73.9 mln vs $74.54 mln First Call consensus (15.81 -0.68)

WuXi PharmaTech sees FY10 revs of $310-320 mln vs $328.56 mln First Call consensus. "Operating income in 2010 is expected to achieve growth of up to 10% compared to 2009, driven by strong revenue growth and increased leverage of SG&A. An expected 2-5 percentage point gross margin decrease, primarily in the second half of 2010, is due to several factors, including an increase in labor and depreciation expenses, expenses from the ramp-up of the toxicology and large-scale GMP manufacturing operations, and pricing pressure. We are working to improve our projected 2010 gross margins. We expect the growth rate in operating income to accelerate in 2011, driven by continued strong revenue growth from China-based laboratory services, meaningful revenues from toxicology and large-scale manufacturing, and improving margins."

16:31

FTI FMC Tech receives $62 mln contract to support Marulk field development (60.62 -0.90)

Co announced that it has signed an agreement with Statoil ASA for the manufacture and supply of subsea production equipment to support the Marulk field. The award, a call-off from FMC's existing frame agreement with Statoil, has a value of approximately $62 million in revenue to FMC Technologies. The Marulk field is located in the Norwegian Sea, approximately 18 miles (30 kilometers) southwest of the Norne field at a water depth of 1,200 feet (365 meters). The initial development will consist of two wells tied back to the Norne floating production, storage and offloading vessel. The systems will be manufactured and assembled at FMC's operations in Kongsberg, Norway and Dunfermline, Scotland. Initial deliveries are scheduled to commence in the second quarter of 2011.

16:30

BEN Franklin Resources reports month-end assets under management of $556.3 bln vs. $548.0 bln a year ago (108.32 -0.97)

16:25

PAC Grupo Aeroportuario del Pacifico reports passenger traffic decrease of 4.5% for February 2010 (37.10 +0.20)

The co announces preliminary terminal passenger traffic figures for the month of February 2010 compared to traffic figures for February 2009. During February 2010, total terminal passengers decreased 4.5% compared to the previous year; domestic passenger traffic decreased 6.0%, while international passenger traffic decreased 2.4% compared to February 2009.

16:19

NOC Northrop Grumman confirms its will not submit a bid to the Department of Defense for the KC-X program. (64.16 -0.06) -Update-

Co says that "after a comprehensive analysis of the final RFP, Northrop Grumman has determined that it will not submit a bid to the Department of Defense for the KC-X program. We reached this conclusion based on the structure of the source selection methodology defined in the RFP, which clearly favors Boeing's (BA) smaller refueling tanker and does not provide adequate value recognition of the added capability of a larger tanker, precluding us from any competitive opportunity. Northrop Grumman fully respects the Department's responsibility to determine the military requirements for the new tanker. In the previous competition, Northrop Grumman was selected by the Air Force as offering the most capable tanker for the warfighter at the best value for the taxpayer. However, the Northrop Grumman and EADS team is very disappointed that the revised source selection methodology now dramatically favors Boeing's smaller refueling tanker. We agree that the fundamental military requirements for the new tanker have not changed since the last competition, but the Department's new evaluation methodology now clearly favors the smaller tanker. We have decided that Northrop Grumman will not protest. While we feel we have substantial grounds to support a GAO or court ruling to overturn this revised source selection process, America's service men and women have been forced to wait too long for new tankers. We feel a deep responsibility to their safety and to their ability to fulfill the missions our nation calls upon them to perform. Taking actions that would further delay the introduction of this urgent capability would also not be acting responsibly."

16:15

HOKU HOKU Scientific receives $50 million from Tianwei Loan to finance polysilicon plant (2.30 -0.04)

The co announces that it received the second tranche of $30 million for a total loan amount of $50 million from Tianwei New Energy Holdings. Hoku also confirmed receipt of $4 million in polysilicon prepayments on March 1, 2010, from Solarfun Power Hong Kong Limited, pursuant to its polysilicon sales agreement with Hoku. Hoku reported that the aggregate cash proceeds of $54 million will be used to pay down past due vendor balances and liens, and to continue engineering, procurement, and construction activities at its polysilicon plant in Pocatello, Idaho. Hoku had expected Tianwei to provide the second tranche of $30 million as agreed no later than February 22, 2010, and as a result it planned to achieve its reactor demonstration in March 2010. Receipt of the funds was delayed two weeks due to the Chinese government's process for approving foreign currency transactions, and Hoku is now reporting that it expects to complete the reactor demonstration in April 2010.

16:13

PZN Pzena reports assets under management of $14.2 bln at the end of February vs. $13.7 bln a month ago (6.59 -0.03)

16:13

TIVO TiVo beats by $0.03, misses on revs; guides Q1 revs below consensus (17.06 -0.44)

Reports Q4 (Jan) loss of $0.09 per share, $0.03 better than the First Call consensus of ($0.12); service and tech revenues fell 6.6% year/year to $45.3 mln vs the $47.5 mln consensus. Co issues downside guidance for Q1, sees Q1 service and technology revs of $41-43 mln vs. $48.81 mln consensus. TiVo sees Q1 net loss in the range of ($19) mln to ($21) mln. The financial guidance reflects TiVo's expectations of increased litigation expense, higher research & development costs due to increased product development and distribution efforts, and higher marketing spend relating to the launch of TiVo Premiere... Co said, "maintained a strong balance sheet, increased our cash and investments position by almost $40 million over the course of the year, and continued to effectively manage our spending across all areas of the Company... our advanced television solution for RCN will be launching soon and as a result, RCN customers will have full access to a universal cable box, a vast collection of content from broadband sources, a significant VOD library, and a diverse music jukebox in one elegant design."

16:13

ALXA Alexza Pharma reports Q4 EPS of ($0.39) vs ($0.26) First Call consensus; revs $0 mln vs $1.00 mln First Call consensus (2.85 -0.05)

16:11

NEP China North East Petroleum clarifies non-cash accounting adjustments to previously issued 2008 and 2009 financial statements (8.61 -0.33)

The co announces the impact of its previously announced need to revise its 2008 and 2009 financial statements to account for non-cash accounting adjustments. As stated in the Company's 8-K filed on February, 23, 2010, the Board of Directors of the Company determined that the Company's financial statements for the year ended December 31, 2008, and each interim quarter within that year, and for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009 should no longer be relied upon as a result of certain non-cash errors... The ceiling test charges were caused by several errors in the method used by the Company in the calculation. These errors included: a) a computational error which caused incorrect discounting of future estimated cash flows, and b) incorrect tax expense assumptions incorporated in the future estimated cash flow model used by our reserve engineers. As a result of the ceiling test impairments recognized at December 31, 2008 and March 31, 2009, the net carrying value of oil and gas properties was reduced on those dates from $70,193,852 to $67,934,989 and from $67,671,268 to $56,462,878, respectively. Additional detailed balance sheet effects, primarily affecting the Company's retained earnings and additional paid-in capital, will be provided in the forthcoming amended financial reports. In conjunction with the forthcoming issuance of the amended financial reports, the Company will disclose a material weakness regarding its internal controls over financial reporting. The Company has engaged an external consultant with expertise in financial accounting and reporting, including specifically the additional reporting requirements affecting oil and gas producing companies, to assist with the Company's efforts to maintain effective internal controls over financial reporting.

16:10

MAKO MAKO Surgical misses by $0.01, beats on revs (14.17 +0.80)

Reports Q4 (Dec) loss of $0.28 per share, $0.01 worse than the First Call consensus of ($0.27); revenues rose 790.0% year/year to $8.9 mln vs the $7.6 mln consensus. Revenue in the fourth quarter of 2009 primarily consisted of approximately $5.8 million in revenue from the sale of seven RIO systems, and approximately $2.7 million in revenue from the sale of implants used in the 561 MAKOplasty procedures performed in the quarter.

16:10

CMA Comerica announces it has commenced an $800 mln common stock offering (36.29 -0.45)

16:08

HRB H & R Block beats by $0.01, misses on revs (16.74 +0.05)

Reports Q3 (Jan) earnings of $0.16 per share, $0.01 better than the First Call consensus of $0.15; revenues fell 5.9% year/year to $934.9 mln vs the $949.6 mln consensus. Based upon various industry-wide sources, the company believes that total IRS filings are down 4% to 5% through Feb. 28, partially due to weather-related slowness in February. The company anticipates that by the end of the tax season total IRS filings will decline approximately 2.5% to 3.5% over the prior year, or only approximately half the rate of decline seen in the period through Feb. 28. However, this decline would nonetheless be nearly double the company's original estimate of lower returns. The shift from assisted preparation to internet based or other do-it-yourself tax preparation methods has accelerated in the early part of this tax season compared with previous years. Historically late season filers, who tend to have higher incomes, have shifted to DIY at a slower rate than early season filers. For the fiscal 2010 tax season through Feb. 28, the company's same-office tax returns prepared in retail operations fell 6.8 percent compared to the prior-year period. Total retail tax returns prepared through Feb. 28 were down 9.4%.

16:08

RSOL Real Goods Solar reports Q4 EPS of $0.01 vs $0.00 First Call consensus; revs $19.1 mln vs $18.85 mln First Call consensus (3.05 +0.01)

"The fourth quarter saw continued strong demand for residential solar," commented John Schaeffer, President. "Bookings were robust throughout the quarter and we are pleased with the size of our backlog going into the slower winter months. Revenue for the quarter showed significant growth as a result of increasing installation capacity as well as completion of significant low-income housing projects in San Francisco and Richmond. We also reported our second consecutive quarter of profitability combined with over 40% internal revenue growth as we continue to see the benefits of scale, operational efficiencies and strong consumer demand."

16:07

CASY Casey's General misses by $0.04, reports revs in-line (31.50 -0.36)

Reports Q3 (Jan) earnings of $0.34 per share, $0.04 worse than the First Call consensus of $0.38; revenues rose 31.2% year/year to $1.11 bln vs the $1.12 bln consensus. The co's annual goal is to increase same-store gasoline gallons sold 2% with an average margin of 11 cents per gallon. For the third quarter, same-store gallons sold were down 2.9% with an average margin of 12.4 cents per gallon. "We continue to experience a favorable gasoline margin environment." Casey's annual goal is to increase same-store sales 8.9% with an average margin of 33.9%. For the quarter, same-store sales were up 1.7% with an average margin of 32.7%. Company had acquired 20 stores and completed 10 new-store constructions. "We are encouraged with the acquisition activity in the third quarter and have written agreements for an additional 15 locations that we anticipate closing on by the end of the fiscal year," said Myers. "We remain optimistic about long-term growth opportunities."

16:07

FRPT Force Protection beats by $0.05, beats on revs (5.48 -0.03)

Reports Q4 (Dec) earnings of $0.27 per share, $0.05 better than the First Call consensus of $0.22; revenues rose 20.9% year/year to $289 mln vs the $279.1 mln consensus. Significantly contributing to the 21% increase in revenue was continued strength in the company's modernization, spares and sustainment business. Partially offsetting the increase in net sales were fewer vehicle deliveries in the 2009 fourth quarter as compared to the prior year period.

16:06

LXU LSB Industries reports Q4 EPs of $0.01 vs $0.10 First Call consensus; revs $115.3 mln vs $125.25 mln First Call consensus (15.03 -0.35)

"Due to current economic conditions, especially in the commercial construction sector, product orders and sales in our Climate Control Business have declined. Once the economy turns, we look forward to a resumption of growth in this business. We have seen some initial positive effects from the tax benefit provisions for geothermal heat pumps, which are part of the federal economic stimulus package, but these gains have been more than offset by the effects of the recession. We are continuously developing and introducing new green products, and we are investing in programs that we expect will stimulate the growth of our Climate Control Business... With respect to our Chemical Business, signs point to improvement in 2010 in all of its markets. We are especially pleased to see UAN pricing firming following a period of low prices. Looking ahead, the outlook is good for grain and crop production and fertilizer required to support them, including UAN. Despite the delays, we remain confident that the Pryor Facility will be a valuable asset for LSB once it is fully operational. We estimate that our all-in costs to refurbish the Pryor Facility are a fraction of the cost to construct a new plant with comparable capacities."

16:06

MYGN Myriad genetics expression test, PROLARIS, accurately predicts prostate cancer recurrence (22.67 +0.15)

Co reports: The study demonstrated that the PROLARIS molecular diagnostic test is a significant predictor of prostate cancer recurrence in training (p=0.01) and validation cohorts (p=0.00000006). In patients with Gleason scores (the most widespread method of prostate cancer tissue grading) below 7, PSA levels (protein produced by cells of the prostate gland) of less than 30ng/ml and with disease confined to the prostate, the PROLARIS test accurately identified those patients who had a low risk of disease recurrence with 95% certainty. In contrast, patients with a high-risk signature had a recurrence risk more than 4-fold higher than those with a low-risk signature. In the validation cohort, PROLARIS was also prognostic in patients with Gleason scores above 6, PSA levels of greater than 30ng/ml and with evidence of disease outside the prostate (p=0.0026).

16:05

ACUR Acura Pharma and King Pharmaceuticals announce 'positive' top line results of a clinical study assessing relative abuse potential (4.91 +0.10)

Co announced top-line results from Study AP-ADF-114 titled "A Randomized, Double-Blind, Placebo- and Active-Controlled Study to Assess the Relative Abuse Potential of Acurox(R) (oxycodone HCl and niacin) Tablets in Non-Dependent Recreational Opioid Users." Study 114 top-line results demonstrate that two different potentially abused excess oral doses of Acurox Tablets are significantly disliked compared to equivalent excess oral doses of oxycodone HCl tablets alone (without niacin). All five co-primary endpoints comparing the like/dislike of excess doses of Acurox Tablets with the like/dislike of excess doses of oxycodone HCl tablets alone (without niacin) each achieved statistical significance (p < 0.0001). Study 114 primary endpoint results are supplemented by multiple independently measured secondary endpoints, all of which achieved statistically significant results (p < 0.05).

16:05

GAIA Gaiam beats by $0.03, beats on revs (7.84 +0.15)

Co reports Q4 (Dec) EPS of $0.17, $0.03 better than the $0.14 First Call consensus. Revenue rose 17.6% yr/yr to $87.6 mln vs the $85.1 mln cosnensus.

16:03

NCMI National Cinemedia beats by $0.01, beats on revs; guides Q1 revs above consensus; reaffirms FY10 revs guidance (16.36 +0.23)

Reports Q4 (Dec) earnings of $0.26 per share, $0.01 better than the First Call consensus of $0.25; revenues rose 5.5% year/year to $118.6 mln vs the $116.7 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $80-$83 mln vs. $78.52 mln consensus. Co reaffirms guidance for FY10, sees FY10 revs of $400-$410 mln vs. $406.53 mln consensus.

16:03

SYX Systemax reports Q4 EPS of $0.46, excluding items, vs. $0.33 First Call consensus; revenue grew 15% y/y to $938.2 mln (17.68 +0.18)

Co states, "Systemax posted all-time record sales, with over 24% growth in the fourth quarter on an equivalent weeks basis. Our business to business sales growth was the highest, driven by the impact of the WStore acquisition which was completed in September 2009 and modestly improving economic conditions in certain of the geographies in which we sell. Our consumer channel sales benefited from a robust holiday season that saw consumers shopping for lower priced products such as netbook computers, digital cameras and smaller flat screen televisions both online and at our retail stores, as well as the Circuit City asset purchase which was completed in May 2009. The market share growth strategy we have followed since the beginning of the economic downturn is beginning to pay off for us. Our diligent cost controls, coupled with the strong top-line sales growth, resulted in our growing operating income by 92% and diluted EPS by 81%. Looking ahead, we believe our capacity to capture value and deliver it to customers through our recognized brands, including TigerDirect, CompUSA, Circuit City, MISCO, WStore and Global Industrial, positions us well for 2010."

16:03

CAP CAI Intl beats by $0.05, misses on revs (11.42 -0.08)

Reports Q4 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.16; revenues fell 32.6% year/year to $15.3 mln vs the $16 mln consensus. Co said, "Overall we are optimistic about the prospects for 2010 and although our profitability in 2009 was lower than in 2008 after adjusting for the goodwill impairment, we were profitable in every quarter of 2009 and believe it shows the resiliency and strength of our industry and our strategy of both owning and managing assets for third party investors."

16:02

ISTA ISTA Pharm receives action date for FDA review of once-daily XiDay (3.83 +0.10)

Co announces that the Company's supplemental New Drug Application for once-daily XiDay has been accepted for review by the U.S. Food and Drug Administration. The FDA has granted XiDay a standard review time of ten months, assigning ISTA a Prescription Drug User Fee Act action date of October 16, 2010. ISTA's request for a shorter, six-month priority review is still under consideration by the FDA.

16:01

IMGN Immunogen announces orphan drug designation granted to IMGN901 for treatment of merkel cell carcinoma by US FDA and EU COMP (737 +0.27)

Co announces the FDA has granted orphan drug designation to its IMGN901 compound when used for the treatment of Merkel cell carcinoma. Through a separate process, the European Union Committee for Orphan Medicinal Products concurrently also granted IMGN901 orphan medicinal product designation for the treatment of MCC.

16:00

ANCI American Caresource Holdings names Matthew Thompson as Interim Chief Financial Officer (2.32 -0.05)

The co announces that Matthew Thompson, Vice President, Finance, has been named Interim Chief Financial Officer. Thompson replaces Steven Armond, whose employment with American CareSource Holdings has ended effective immediately.

15:50

EWM Late day global & sector ETF view -Technical-

Actively Traded Leading Global & Sector ETF Plays:

iShares Malaysia- EWM +1.5%, Global shippers- SEA +1.50%, Homebuilders & construction- XHB +1.50%, ITB +1.0%, iShares real estate & REITS- IYR +1.50%, ICF +1.50%, iShares Hong Kong- EWH +1.50%, iShares telecom- IYZ +1.25%, iShares US broker/dealers= IAI +1.0%, iShares Singapore- EWS +0.75%, SPDRS US retailers- XRT +0.75%, Insurers- KIE +0.75%, iShares Japan- EWJ +0.75%, Capital mkts- KCE +0.75%

Actively Traded Lagging Global & Sector ETF Plays:

VIX vol index- VXX -2.25%, US airlines- FAA -1.50%, Nat gas- UNG -1.0%, Gold miners- GDX -1.0%, Gold- GLD -1.0%, Silver- SLV -0.75%, Solar power- TAN -0.50%, US bonds- TLT -0.50%, iShares Brazil- EWZ -0.50%, Pound/Sterling currency shares- FXB -0.50%, SPDRS healthcare- XLV -0.50%, SPDRS industrials- XLI -0.50%

15:49

XHB Late session relative strength in Housing XHB, REITs IYR, Semi SMH, Technology XLK, Steel SLX, Solar TAN, Rail -Update- -Technical-

15:43

Conferences and Shareholder/Analyst Meetings of Interest

Events of interest for tomorrow, March 9, include: FL Analyst Meeting; SYMM Analyst Meeting; CVX 2010 Security Analyst Meeting; VITA, HRC, SYK, ATEC at Canaccord Adams Musculoskeletal Conference; ARTG, CAVM, TSYS, AMD at Wedbush Morgan Securities New York MAC: Management Access Conference; PFE, JNJ, MRK, MDT at Cowen and Company Healthcare Conference; LEAP, CMCSA, TIVO, PAET at Credit Suisse Group Global Media and Communications Conference; BKC, DLM at Goldman Sachs Consumer/Retail Leveraged Finance Conference; MXIM, TLAB, RVBD, BRCM at Jefferies & Co Global Technology Conference; CAL, GR, BA, LCC at JPMorgan Aviation, Transportation & Defense Conference; CNW, MAS, TSCO, AZO at Raymond James Institutional Investors Conference; CAT, URI at UBS Industrial Conference-Chicago. Fed: Fed's Evans. Treasury: $40 bln 3-yr Treasury Notes Auction

15:40

Earnings Calendar

Today after the close look for the following companies to report: SVN, CAP, CPE, CASY, FRPT, HRB, MAKO, NCMI, RSCR, SNHY, TIVO, and VVUS. Tomorrow before the open look for the following companies to report: BRNC, CALP, CRIC, CODI, DKS, EJ, EXEL, GPOR, KR, LMIA, NXG, SSI, SWSI, and TSTY.

15:37

SPY Trading volume analysis with chart-- NYSE & NASDAQ pacing well below Friday's tally with 30 min remaining -Technical-

Both NYSE & NASDAQ total exchange trading volume is running well below Friday's pace here with under 30 min. remaining in today's session. This signals a lack of fund participation and also indicates that sellers remain on the sidelines, as the indices post higher highs on the daily charts while price is confined to a very tight, narrow intraday trading range.

As of 3:30p.m. ET, nearly 640m shares have changed hands on NYSE vs. 711m on Friday, while over on NASDAQ, 1.8b shares have traded vs. 1.93b seen in Friday's session at this time.

NYSE 60 min volume chart

NASDAQ 60 min volume chart

15:02

BLDP Ballard Power to receive $6.2 mln over 5 years to advance non-automotive fuel cell commercialization for the DOE (2.54 +0.26)

Co announced that it has $6.2 mln in project funding from the U.S. Department of Energy (DOE) under contract over a four year period. Ballard Material Products, a U.S. subsidiary of Ballard Power Systems, was awarded $4.1 mln as prime for a contract that will focus on improvements in fuel cell durability and cost. Additionally, Ballard will be sub-contractor to leading U.S. technology organizations for several other fuel cell research and development projects funded by the DOE.

14:58

COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices

May corn closed lower by 0.5 cents to $3.75 per bushel, May soybeans closed higher by 5.25 cents at $9.48 per bushel, May wheat closed higher by 1.5 cents to $4.95 per bushel, May ethanol closed higher by $0.021 cents at $1.65, May world sugar futures closed 0.62 cents lower to 21.57 cents.

14:56

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

NDX 100 Best % Performers:

RIMM +6.25%, CSCO +3.25%, YHOO +3.25%, WYNN +3.0%, BIDU +2.75%, BMC +2.25%, PCLN +2.0%, CTAS +1.75%, CTXS +1.50%, NTAP +1.25%, FWLT +1.25%

NDX 100 Worst % Performers:

WCRX -4.0%, NIHD -2.0%, TEVA -2.0%, LOGI -1.75%, LINTA -1.75%, GILD -1.50%, NVDA -1.50%, ESRX -1.50%, SRCL -1.25%, CYSH -1.25%, VMED -1.25%

NASDAQ TRIN @ +0.70

NASDAQ A/D @ +210

14:53

CSCO Dow 30 (INDU) leaders & laggards moving into today's final hour of trading -Update- -Technical-

INDU 30 Best % Performers:

CSCO +3.25%, MCD +2.75%, VZ +1.50%, T +1.25%, DD +1.0%, CVX +0.75%

INDU 30 Worst % Performers:

MMM -1.25%, AXP -1.0%, BA -1.0%, PG -0.75%, PFE -0.75%, KFT -0.50%

NYSE TRIN @ +1.05

NYSE A/D @ +545

14:49

ENER Energy Conversion volume alert; ENER spikes $0.60 on a surge in volume (8.62 +0.70)

14:44

BZ Boise announces proposed $300 mln debt offering (5.21 -0.06)

Co announces Boise Paper Holdings, and Boise Co-Issuer Company, wholly owned subsidiaries of Boise, are proposing to jointly issue $300 mln, aggregate principal amount of senior unsecured notes due 2020 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended.

14:42

COMDX NYMEX Energy Closing Prices

Crude oil ended higher by 37 cents to $81.87, natural gas shed 6.2 cents to finish at $4.531, heating oil closed up 0.81 cents to $2.1055 and RBOB gasoline settled higher by 1.55 cents to $2.2865 (all April contracts).

14:02

BDC Belden cancels participation in Jefferies global technology conference (24.01 -0.01)

Co announced that due to an unforeseen, minor medical issue, the management team will not participate in Jefferies Global Technology Conference as originally planned.

13:31

COMDX COMEX Metals Closing Prices

April gold finished lower by $10.70 to $1124.50, May silver shed 11.2 cents to close at $17.27 and May copper ended off 0.7 cents to $3.4105.

13:11

XHB SPDR Homebuilders sets new session high of 16.74, probing its 52-wk high from Sep at 16.75 (16.74 +0.17) -Technical-

LEN +0.8%, MDC +0.8%, MTH +1%, PHM +2%, SPF +1.9%, TOL +1.4%, HD +0.5%, MHK +1.4%, SHW +0.3%.

13:07

QQQQ Minor new highs for Nasdaq 100 +5.4 / Nasdaq Comp +7.6, Dow -3.4 and S&P +1 trading near range midpoint -Update- -Technical-

13:04

HRLY Herley Industries receives $1.3 mln contract to supply RF simulator (14.23 +0.03)

12:51

SYNO Synovis Life Tech announces new share repurchase program (14.20 -0.10)

Co announced that its board of directors has approved a program for the co to repurchase up to 1 mln shares of its common stock, in addition to the ~66,000 shares remaining to be purchased under an existing share repurchase program approved by the board in September 2009. The repurchase program does not have an expiration date.

12:50

EWM Midday global & sector ETF view -Technical-

Actively Traded Leading Global & Sector ETF Plays:

iShares Malaysia- EWM +1.50%, iShares Hong Kong- EWH +1.0%, Global shippers- SEA +1.0%, iShares telecom- IYZ +1.0%, iShares Singapore- EWS +0.75%, Casinos- BJK +0.75%, Homebuilders & construction- ITB +0.75%, XHB +0.75%, iShares REITS & real estate0 ICF +0.50%, IYR +0.75%, iShares Taiwan- EWT +0.75%, Capital markets- KCE +0.50%, iShares S Korea- EWY +0.50%, Insurers- KIE +0.50%, SPDRS US retailers- XRT +0.50%, iShares US broker/dealers- IAI +0.50%

Actively Traded Lagging Global & Sector ETF Plays:

VIX vol index- VXX -2.50%, Nat gas- UNG -1.75%, Solar power- TAN -1.50%, US airlinex- FAA -1.0%, Gold miners- GDX -0.75%, Crude/WTI oil- USO -0.75%, OIL -0.75%, Commods- GSG -0.50%, DBC -0.50%, SPDRS metals & mining- XME -0.50%, SPDRS industrials- XLI -0.50%, Clean enrgy- PBW -0.50%, India- INP -0.50%, Silver- SLV -0.50%

12:44

CSCO Cisco Systems sets fresh session/52-wk high, near technical target zone (25.71 +0.50) -Update- -Technical-

The impressive advance of late (up seven days in a row, +6.5% intraday low to high during this period) has brought the stock near a technical target zone based on the Jan decline and the Jan to late Feb rally in the 25.85/25.95 area (session high 25.79). The next area of resistance above is at 26.25/26.35 (congestion/62% retracement of the 2007-2009 decline) -- Click for chart

12:30

PENN Penn Natl Gaming to acquire Beulah Park in Ohio (24.36 +0.10)

Co announced that it has entered into a definitive agreement to purchase Beulah Park in Grove City, Ohio, located approximately seven miles south of Columbus, Ohio, from Heartland Jockey Club. The purchase of Beulah Park is expected to close in the second quarter of 2010 and is subject to a 45 day due diligence period and the approval of the Ohio state racing commission.

12:20

AMZN Amazon.com sets new session high to test retracement (129.73 +0.82) -Technical-

The stock is higher for the seventh session in a row for a gain of roughly 11% from intraday low to high during this period (+14% off Feb low). The new session high (129.86) has cut the Dec/Feb decline in half to test the 50% retracement/congestion area at 129.86/130.00. The next level of interest above if able to sustain a break is at the late Jan reaction high (131.85).

12:07

TNH Terra Nitrogen issues statement; TNCLP has not borrowed under its credit facilities for more than five years. (87.74 +0.01)

Co issued the following statement in response to inquiries from both investors and the media: Terra Nitrogen Company, L.P. conducts its business through an operating partnership. Terra Nitrogen GP (TNGP) is the general partner of the partnership and is an indirect, wholly-owned subsidiary of Terra Industries (TRA). In the event of a change of control of Terra, the acquiring company would assume control of TNGP with no change in TNGP's role as general partner of the partnership. Further, while a change of control of Terra would constitute an event of default under TNCLP's existing $50 mln revolving credit facility, TNCLP has had preliminary conversations with lending institutions and believes that it would reach an agreement to amend the existing credit facility or replace the existing credit facility in such event to avoid an event of default. TNCLP arranged its existing facility as a standby credit for potential use in circumstances of seasonal working capital fluctuation. TNCLP has not borrowed under its credit facilities for more than five years. At February 28, 2010, TNCLP had cash balances of $81.0 mln, including $50.2 mln of funds received from customer prepayments. As of March 8, 2010, TNCLP had no indebtedness outstanding under its existing credit facility.

12:01

COMDX Crude oil trades to fresh lows at $80.77; now off 69 cents to $80.81

Crude's lows coincide with new highs in dollar index.

11:56

European Markets Closing Prices: FTSE: 5606.7 +7.0 +0.1%, DAX: 5875.9 -1.5 -0.0%, CAC: 3903.5 -6.9 -0.2%, Spain's IBEX: +0.53%; Portugal's PSI: -0.60%

11:37

IUSA InfoGroup to be acquired by CCMP Capital for $8.00/share (8.16 0.00) -Update-

Co announced it has entered into an agreement to be acquired by affiliates of CCMP Capital Advisors, in a transaction with a total value of ~$635 mln, including the refinancing of Infogroup's outstanding indebtedness. Under the agreement, Infogroup shareholders will receive $8.00 in cash for each share of Infogroup common stock they hold. (Stock is halted)

11:33

CNH CNH Global names Richard Tobin as CFO effective March 8, 2010 (27.21 -0.62)

11:32

SMH Semiconductors Hldrs Trust flirting with morning low at 26.93 (26.94 -0.09) -Update- -Technical-

TXN -1.2%, ADI -0.6%, ALTR -0.8%, ATML -0.4%, KLAC -0.4%, LLTC -0.9%, LSI -0.9%, TER -0.7%.

11:31

SPY Minor new session lows for Dow -18 and S&P -1.7, Nasdaq Comp +1.1 hovering just above its morning low at 2326 -Update- -Technical-

11:25

COMDX Gold, silver, and crude all tick to fresh lows as the dollar index ticks into positive territory

Gold now down $13.80 to $1121.40, silver is off 19.2 cents to $17.19 and crude oil is lower by 9 cents to $81.41.

11:23

IMAX Imax Theatres post ~$15 mln globally for Disney's Alice in Wonderland opening weekend (14.77 +1.03) -Update-

Co announced that Alice in Wonderland, posted record opening weekend results, with 188 domestic IMAX theatres contributing $12.1 mln of the film's overall opening gross of an estimated $116.2 mln during the weekend from Friday Mar 5 - Sunday Mar 7, which represents an ~27% increase over IMAX's previous opening weekend record. The IMAX release contributed ~10.5% of the overall domestic box on an estimated 2.5% of the total screens, and IMAX theatres posted a domestic per screen average of $64,362.

11:22

DIA Dow -16 and S&P -1.1 slip back after second morning failure to confirm new intraday high in Nasdaq Comp +3.1 -Update- -Technical-

Seeing relative sector weakness in Energy XLE / OIH, Reg Bank RKH, Ag/Chem MOO, Gold Miners GDX, Utility UTIL, Airline, REITs IYR.

11:16

MCD McDonald's back hovering near session high (65.08 +1.41) -Update- -Technical-

Stock gapped up after reporting same store sales and extended as high as 65.09 which has also helped to underpin the Restaurant Sector (DJUSRU +1.7%). A narrow consolidation near the high developed with it working back toward the best level again in recent trade. Its 52-wk close high from Feb is at 65.26 with the Feb/52-wk intraday high at 65.75.

11:15

TTGT Techtarget acquires ebizQ.net (5.40 0.00)

Co announces the acquisition of ebizQ.net, a leading website for business and information technology decision makers focused on Business Process Management and Service-Oriented Architecture. ebizQ.net is an online community with more than 100,000 members that provides original editorial and independent content from leading industry analysts and experts via blogs, webinars, podcasts, white papers, and virtual events.

11:13

IHC Independence announces acquisition of American Independence shares (8.92 -0.09)

Co announced that it has acquired, via open-market transactions, additional shares of common stock of American Independence (AMIC). The acquisition brings IHC's aggregate holdings to over 50% of the total outstanding shares of AMIC. As a result of this transaction, AMIC is now a majority-owned subsidiary of Independence and beginning with the 2010 first-quarter results, IHC will consolidate AMIC in its reported financial results.

11:13

Rumor Round Up

Continuing last week's strength, we had plenty of rumors this morning. At the open it was rumored Danish business conglomerate Maersk could be interested in DryShips (DRYS 5.67 +0.01). DRYS was unable to hold onto its initial gains. Chatter circulated that Suntech (STP 14.66-0.20) could be interested in Canadian Solar (CSIQ 21.32 -0.20), we note CSIQ shares did not react to the rumor. Renewed takeover chatter circulated around Biogen Idec (BIIB 57.73 +0.52). Today's speculated acquirer was Sanofi Aventis (SNY 38.08 -0.06). It was rumored Rio Tinto (RTP 226.13 -0.14) could be interested in Century Aluminum (CENX 15.08 +0.25). CENX shares have not been able to break out of their intraday range. Talbots (TLB 11.14 -0.09) shares spiked ~$0.30 after a rumor that a private equity firm could be making an offer to take TLB private. TLB shares have given back all of their gains. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable, the speculation may increase volatility in the near term.

11:03

RIMM Research In Motion shares staging a clean breakout from 3 month technical resistance surrounding the 71.50~72.00 mark this morning (72.96 +3.46) -Update- -Technical-

Price trading at the best levels since the Sep. 25, 2209 tremendous gap lower.

HoD now @ 72.99

RIMM Daily Chart

RIMM +5.0% vs. QQQQ +0.35%

10:59

PCLN Priceline.com jumps to fresh session high of 240.98, pauses modestly under its 52-wk close high from last week at 241.34 (240.30 +4.96) -Technical-

The 52-wk intraday high from last week does not come into play until 245.00.

10:37

DVN Devon Energy announces Jeff Agosta has been appointed to the position of executive vice president and chief financial officer (69.27 -0.87)

10:35

EWM 1st hour global & sector ETF view -Technical-

Actively Traded Leading Global & Sector ETF Plays:

iShares Malaysia- EWM +1.50%, iShares Taiwan- EWT +0.75%, iShares Hong Kong- EWH +0.75%, iSHares Singapore- EWS +0.75%, SPDRS oil & gas equip. & services- XES +0.75%, IShares telecom- IYZ +0.50%, IShares S Korea- EWY +0.50%, Global shippers- SEA +0.50%, iShares Japan- EWJ +0.50%, Insurers- KIE +0.50%, Livestock commods- COW +0.50%, SPDRS US retailers- XRT +0.50%

Actively Traded Lagging Global & Sector ETF Plays:

Nat gas- UNG -2.25%, Solar power- TAN -1.25%, iShares Brazil- EWZ -1.25%, VIX vol index- VXX -1.0%, iShares Latin America- ILF -0.75%, SPDRS metals & mining- XME -0.75%, Gold miners- GDX -0.75%, Gold- GLD -0.50%, SPDRS healthcare- XLV -0.50%, Pound/Sterling currency shares- FXB -0.50%

10:34

DIA Dow -9 and S&P -0.7, which did not confirm new Nasdaq +2 highs in recent trade, have slipped into the red -Technical-

10:27

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

NDX 100 Best % Performers:

RIMM +3.75%, WYNN +2.0%, FWLT +2.0%, YHOO +2.0%, NTAP +1.75%, CSCO +1.75%, BMC +1.50%, CTAS +1.50%, ERTS +1.50%, JBHT +1.50%, SNDK +1.50%

NDX 100 Worst % Performers:

TEVA -2.0%, VMED -2.0%, LOGI -1.75%, WCRX -1.25%, GILD -1.25%, LINTA -1.0%, ESRX -0.75%, MAT -0.75%, SRCL -0.75%, MYL -0.75%, CELG -0.75%, ORCL -0.75%

NASDAQ TRIN @ +0.60

NASDAQ A/D @ +110

10:25

QQQQ New session highs for Nasdaq Comp +5.6/Nasdaq 100 +3.2, Dow +8.4, S&P +1.5 range trading just under morning peaks -Technical-

10:24

MCD Dow 30 (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-

INDU 30 Best % Performers:

MCD +2.0%, CSCO +1.50%, BAC +1.0%, MSFT +1.0%, VZ +0.75%, T +0.75%

INDU 30 Worst % Performers:

PFE -0.75%, BA -0.75%, MRK -0.50%, MMM -0.50%, KO -0.50%, KFT -0.50%

NYSE TRIN @ +0.95

NYSE A/D @ +620

10:18

V Visa shares are on the move along with peer MA as price probes new 52 week highs as traders eye the post IPO/all-time high point in play @ 89.84 (89.80 +1.29) -Technical-

HoD ticks above @ 89.87

10:17

BAC Bank of America showing relative strength notches a fresh March high above 16.86 (16.87 +0.17) -Technical-

Next level of interest lies above at $17.00 followed by the January highs of 17.18.

10:09

KIE SPDR KBW Insurance extends to fresh 52-wk peak (38.83 +0.34) -Technical-

The KIE has reached a new 17 month high in opening trade with early strength this morning coming from MET +5% (purchase the foreign life insurance unit of AIG) and PRU +1.6%.

10:05

RURL Rural/Metro announces that one of its subsidiaries has entered into a definitive agreement to acquire TransCare of Kentucky (6.55 +0.05)

Co announces that one of its subsidiaries has entered into a definitive agreement to acquire TransCare of Kentucky, a regional provider of emergency and non-emergency ambulance services in Northern Kentucky, for an undisclosed price.

10:01

KSU KC Southern acquires Puerta Mexico intermodal facility, adds direct train service (35.47 +0.03)

Co announced that it has acquired the Puerta Mexico intermodal facility at Toluca in the State of Mexico. Later this month, Kansas City Southern de Mexico, S.A. de C.V. (KCSM) will add direct train service from Lazaro Cardenas to Puerta Mexico, providing Mexico City import and export shippers with a service alternative featuring improved consistency and reliability and better transit times.

10:00

SMH Sector Laggards -Technical-

The stock indices were higher in opening trade but the indices have paused after the relatively limited gains. Sectors on the defensive include: Solar TAN -0.7%, Tobacco -0.6%, Reg Bank KRE -0.5%, Gold GLD -0.4%, Natural Gas -0.4%, Machinery, Auto Parts. Semi SMH -0.3% has rotated into the red after a positive start.

10:00

CMTL Comtech Telecom receives $3.4 mln of Movement Tracking System Orders (30.12 -0.30) -Update-

Co announces its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received orders totaling $3.4 million under its Movement Tracking System, or MTS contract, with the U.S. Army. Total orders received to date against the $605.1 million MTS contract increased to $593.8 million.

09:59

CME CME Group & Bolsa Mexicana de Valores and MexDer Announce Order Routing, Equity Agreement (307.54 -1.44)

Co's announce that they have entered into a strategic partnership that includes an order routing agreement for derivatives products. CME Group has purchased shares in the Mexican exchange valued at $17 mln, or approximately 1.9 % of outstanding BMV shares, as part of the equity portion of the agreement. Additionally, the Control Trust of BMV has granted CME Group the right to nominate a member to BMV Board of Directors and the two exchange operators have signed a memorandum of understanding covering activities aimed at enhancing the partnership between the two exchanges.

09:54

SYK Stryker: U.S. IDE study indicates mobile bearing knees offer no clinical advantages over fixed bearing knees (54.97 -0.05)

Co announced at the American Academy of Orthopaedic Surgeons Conference that its recent FDA-monitored Investigational Device Exemption study found no statistical difference in clinical outcomes between its mobile bearing and traditional fixed bearing knee systems. In contrast, Stryker continues to be very pleased with the success of its fixed bearing Triathlon Knee System with X3 Advanced Bearing Technology, which offers significant advantages over mobile bearing knees on wear rates and overall value.

09:54

COMDX Crude oil is starting to pull back as well; now higher by 33 cents to $81.83

09:52

RIMM Research In Motion extending gap higher start after upgrade (71.66 +.16) -Update- -Technical-

The strong opening push has been extended in recent action to 71.74 slightly above last week's peak (71.70). The Feb/6 month high (three week range top) is at 72.00.

09:47

COMDX Gold drops a quick ~5 points to news lows at $1130.00; now down $4.00 to $1131.30

Silver selling off as well and has given back almost all of its gains; now up 0.3 cents to $17.385.

09:44

XLF Financial Select Sector SPDR providing some leadership, extends opening push near five month close/intraday highs (15.30 +0.08) -Technical-

The XLF has pushed as high as 15.30 this morning bringing its five month close and intraday highs from Jan into play at 15.31/15.40 -- BAC, BK, GS, JPM, MS, STT, USB, WFC.

09:42

GMCR Green Mtn Coffee breaks above 90.00 price resistance & trades to fresh all-time highs this morning @ 92.35 (92.02 +4.28) -Technical-

GMCR +5.0% an early outperformer vs. the SPX +.15%

09:37

SPY Modestly firmer start with indices edging slightly above Friday highs -- Dow +15, S&P +1.5, Nasdaq +2.9 -Technical-

Top performing sectors include: Gold Miners GDX +1.1%, Steel SLX +1.1%, Shipping SEA +1.1%, Disk Drive +1%, Coal KOL +1%.

09:28

XNN Xenonics announces that it has received purchase orders valued at a total of approximately $2.9 mln from Aardvark Tactical, for its NightHunter One high-intensity illumination devices (0.69 )

09:24

COMDX Crude oil is trading back towards its overnight highs, following the open of pit trade, at $82.41; currently higher by 74 cents to $82.24

09:11

PCX Patriot Coal resumes operations at Federal mine (21.67 )

Co announces that it resumed operations at the Federal No. 2 mine near Fairview, West Virginia. Operations at the mine were suspended on Friday, March 5 when the Company found an air quality measurement to be out of compliance with its ventilation plan. Alterations to the Company's ventilation plan have been approved by the U.S. Department of Labor, Mine Safety & Health Administration and the West Virginia Office of Miners' Health, Safety and Training. Air quality measurements are in compliance with the Company's approved ventilation plan.

09:09

WLT Walter Energy names Joseph B. Leonard interim Chief Executive Officer (88.63 )

09:05

On The Wires

SEI (SEIC) announces that it has been selected by AlphaOne Capital Partners to provide a complete outsourcing solution, including middle- and back-office services, for the firm's portfolio of investment products... The State of Pennsylvania notified Aetna (AET) that it has awarded a Medicaid managed care contract to Aetna Better Health,SM Aetna's Medicaid business... Gentiva Health Services (GTIV) acquires Mississippi hospice provider which approximated net revenue of $4 million in 2009... Contango Oil & Gas Company (MCF) announces that its wholly-owned subsidiary, Contango ORE Company, has agreed to invest up to $3 mln to conduct mineral exploration activities on approximately 580,000 acres of Alaska Native and State of Alaska lands located in interior Alaska... Sherwin-Williams (SHW) announces that it has signed an agreement with Spraylat Corporation of Pelham, N.Y., to become the exclusive North American distributor of Spraylat EMI/RFI shielding finishes, also known as conductive coatings, which are used to help protect enclosed electronic devices from electromagnetic and radio frequency "noise" or interference... Transocean Ltd. (RIG) announces that the newbuild ultra-deepwater drillship Dhirubhai Deepwater KG2, which is owned by a joint venture with Pacific Drilling Limited, has commenced operations for Reliance Industries in India under a five-year drilling contract.

09:01

NKTR Nektar Therapeutics announces positive Phase 2 clinical data from first stage of NKTR-102 study in women with platinum-resistant ovarian cancer (14.94 ) -Update-

The co announces preliminary progression-free survival data from the first stage of a two-stage Phase 2 clinical study evaluating single-agent treatment with NKTR-102 in women with platinum-resistant ovarian cancer. In the first stage of the study, 39 patients were enrolled with platinum-resistant disease and were evaluable for the secondary endpoint of progression-free survival (PFS). The study showed that women who received NKTR-102 once every 21 days (q21 day) had a median PFS of 21.0 weeks. In the second arm of the study, women who received NKTR-102 once every 14 days (q14 day) had a median PFS of 12.2 weeks. Progression-free survival is a measure of how long patients live without their disease advancing. Current agents approved by the FDA to treat women with platinum-resistant ovarian cancer have median PFS of between 9.1 and 13.6 weeks. "NKTR-102 has demonstrated a progression-free survival time of nearly five months, which is remarkable for a largely refractory population that is expected to have a PFS of less than three months," said Lorianne Masuoka, M.D., Senior Vice President and Chief Medical Officer.

09:01

LLY Eli Lilly to acquire European rights to Pfizer Animal health assets (35.09 )

Co announced that its subsidary Elanco has signed an agreement to acquire the European rights to a portfolio of certain Pfizer (PFE) Animal Health products. The products, including vaccines, parasiticides and feed additives, are used in both the production animal and companion animal markets.

09:00

TRR TRC Co awarded contract by New Mexico State Office of Bureau of Land Management (3.00 )

Co announces it has been awarded a five-year contract by the New Mexico State Office of the U.S. Bureau of Land Management to provide archaeological and cultural resource services in New Mexico, Texas, Oklahoma and Kansas. If completely filled by task orders, the contract will be worth in excess of $5 million.

08:58

ENZN Enzon says its debt is reduced by $116 mln (9.68 )

Co announces the results from the recent tender and increased conversion periods of the 4 percent convertible notes due in 2013. As a result of the sale of the specialty pharmaceutical business on January 29, 2010, the Company was required to offer to repurchase for cash any and all of its convertible notes at face value. This offer expired on March 5, 2010 and no notes were tendered. The sale of the specialty pharmaceutical business also triggered an increase in the conversion rate to 116.535 shares per $1,000 principal amount during the period January 29, 2010 to March 4, 2010. During this period, $115.6 million principal amount was converted into approximately 13.5 million shares of the Company's common stock. The enhanced conversion period has expired and the original conversion rate of 104.712 shares per $1,000 principal amount of notes is again in effect.

08:50

YMI YM BioSciences increases offering size to ~$17.5 mln (1.14 )

Co announced that the previously announced offering of ~$15 mln has been increased to ~$17.5 mln.

08:34

FREE Freeseas misses by $0.05, reports revs in-line (1.38 )

Reports Q4 (Dec) net of breakeven, ex-items, $0.05 worse than the First Call consensus of $0.05; revenues fell 30.3% year/year to $14.5 mln vs the $14.6 mln consensus. The decrease for the fourth quarter was attributable to the weaker freight market, resulting in lower charter rates compared to 2008.

08:34

HIHO Highway Holdings announces $1 mln share repurchase program (2.38 )

08:33

PZG Paramount Gold and Silver discovers second bulk-mineable gold target at San Miguel project in new San Francisco area as resource delineation continues (1.86 )

Co announces a second bulk-mineable target has also been discovered in the north San Francisco area, generating some unusually high assay results. Christopher Crupi, CEO of Paramount said; "we are on track to develop new resources at San Miguel with results exceeding our expectations. As the complexities of this mineral system are unraveled we become more and more impressed with the quality of our asset." Paramount owns a 100% interest in the 188,461 hectare (approx 466,000 acre) San Miguel Project in the Palmarejo District of northwest Mexico, making it the largest claim holder in this rapidly emerging precious metals mining camp The South Target of the San Francisco area has been the focus of initial definition drilling (San Francisco maps). The South Target has been defined over 200 meters in an east-west direction and 250 meters north-south. The zone remains open east-west and to the north where drilling is continuing to extend the zone towards another east-west structure.

08:32

SON Sonoco Products announces new paperboard, industrial converted products price increases (29.98 )

Co announces that it will increase prices for all uncoated recycled paperboard grades in the United States and Canada by $60 per ton effective with shipments on April 5, 2010. In addition, the Company will increase prices on all paperboard industrial converted products in the U.S. and Canada by 5.5% effective with shipments on April 5, 2010.

08:31

LIOX Lionbridge Tech awarded contract by Department of Homeland Security for over the phone interpretation services; expects contract to generate approx $7 mln (3.49 )

Co announces the United States Department of Homeland Security, US Citizenship and Immigration Services has selected Lionbridge as its provider for over-the-phone interpretation services. The contract includes one base year with four option years.

08:30

RGDX Response Genetics announces $4 million private placement (1.20 )

The co announces that it has entered into a purchase agreement with certain new and existing investors and certain funds managed by Lansdowne Partners Limited Partnership to raise approximately $4 million from the private placement of 3,005,349 newly issued shares of its common stock, at a purchase price of $1.31 per share. The signing of the purchase agreement occurred on Friday, March 5, 2010. The co expects the final closing of the shares will occur on Monday, March 8, 2010.

08:30

AMAT Applied Materials announces increased cash dividend to $0.07 from $0.06 and $2 bln share repurchase authorization (12.29 )

Co announces that its Board of Directors has approved a 17% increase in the quarterly cash dividend to $0.07 per share, payable on June 16, 2010 to stockholders of record as of May 26, 2010. Previously, the quarterly cash dividend was $0.06 per share. Applied's Board also approved a new stock repurchase program authorizing up to $2 billion in repurchases over the next three years ending in March 2013.

08:30

DOW Dow Chemical names William Weideman Chief Financial Officer (30.00 )

Co announces the appointment of William Weideman as Executive Vice President and Chief Financial Officer. The appointment, which was unanimously supported by the Dow Board of Directors, follows an exhaustive global external search as well as screening of internal candidates which clearly identified Weideman as the best candidate for the role.

08:25

NG NovaGold Resources announces additional us$75 million financing (6.35 )

Co announces that it is proposing to issue 13,636,364 common shares of the Company at a price of US$5.50 per common share for gross proceeds of US$75,000,002 to Quantum Partners, a private investment fund managed by Soros Fund Management. This is in addition to the US$100 million financing announced by the Company on March 4, 2010. The gross proceeds to be raised under the two financings total US$175 million.

08:19

MET Follow Up: MetLife to acquire American Life Insurance Company from American International Group; expects the transaction to increase its 2011 operating EPS by approx $0.45 to $0.55/share (38.92 )

As mentioned at earlier, MET announced a definitive agreement to acquire one of American International Group's (AIG) international subsidiaries, American Life Insurance Company (ALICO), for approximately $15.5 billion. The consideration will consist of $6.8 billion in cash and approximately $8.7 billion in MetLife equity securities, subject to closing adjustments. Specifically, the equity security portion of the purchase price will consist of 78.2 million shares of MetLife common stock valued at $3.0 billion, 6.9 million shares of contingent convertible preferred stock valued at $2.7 billion and 40 million equity units having an aggregate stated value of $3.0 billion. MetLife expects the transaction to increase its 2011 operating earnings per share by approximately $0.45 to $0.55 per share, and enable the company to increase its estimated 2011 year-end operating return on equity by 140 to 160 basis points. Operating earnings per share does not include transition and other one-time expenses estimated at $0.12 per share.

08:15

GCOM Globecomm Systems acquires carrier to carrier telecom BV and assets of Evolution Communication (7.97 )

Co announced that it has acquired Carrier to Carrier Telecom BV (C2C) and the assets of Evolution Communication Ltd. (Evocomm) from Carrier to Carrier Telecomm Holdings Ltd (C2C Holdings). The initial purchase price is approximately $15 mln in cash, funded through $2.5 mln of Globecomm's current cash position and approximately $12.5 mln through the Company's existing credit facility with Citibank. C2C Holdings may also receive up to $10.9 mln of additional cash consideration, through a two-year earn-out, based on reaching certain earnings milestones. The combined cos had audited revenues of approximately $19.5 mln for the year ended December 31, 2009. Pursuant to a change in accounting principles relating to purchase accounting for acquisitions, which was effective with respect to Globecomm on July 1, 2009, Globecomm anticipates a non-recurring charge to earnings of ~$0.03-$0.04 per share in the co's third quarter earnings ending March 31, 2010 relating to acquisition costs.

08:14

On The Wires

TASER International (TASR) announces the first domestic sale of its revolutionary new evidence capturing and management platform. TASER will deliver 20 AXON tactical computers and a SYNAPSETM Evidence Transfer Manager to Aberdeen during the second quarter of 2010, and will provide the Department technical and user support for three years. Support for EVIDENCE.COM is included in the contract... Yingli Green Energy Holding Company (YGE) announces a senior government delegation visited Yingli Green Energy's headquarters in Baoding on March 5 and 6, 2010. The co also noted news reports that the agendas for this year's plenary sessions of the National People's Congress and the People's Political Consultative Conference in Beijing include topics such as enhancing environmental protection and developing a low carbon economy, which is a positive sign for the continued growth of the domestic PV market and China-based solar companies... Harris Corporation (HRS) announces that it has received a follow-on $10.7 mln order from the U.S. Navy for 23 shipboard terminals that will provide personnel onboard frigates, access to the Internet, video and other high-speed, broadband services... Novavax (NVAX) announces the enrollment of over 3,500 subjects in Mexico has been completed in Stage B of its pivotal 2009 H1N1 virus-like-particle pandemic influenza vaccine study. With the 1,000 subjects already enrolled in Stage A of the trial, the enrollment in this pivotal trial is now complete with over 4,500 subjects... Northrop Grumman Corporation (NOC) announces that it has been awarded a follow-on blanket purchase agreement valued at up to $100 mln from the U.S. Office of Personnel Management to electronically convert and store federal employee records for streamlined access to information... Honeywell (HON) announces that it has signed a global five-year agreement to be a Main Automation Contractor for Shell... Altera (ALTR) announces that its Stratix IV FPGAs passed the Interlaken Alliance's device interoperability testing... Rexahn Pharmaceuticals (RNN) announces that the Japanese Patent Office has issued a patent for its novel anti-cancer compound, Archexin.

08:06

HON Honeywell signs agreement to provide technology and system-design for shell (41.91 )

Co announced that it has signed a global five-year agreement to be a Main Automation Contractor for Shell. The Global Framework Agreement is part of Shell's long-term MAC strategy to maximize production while lowering total operating costs by equipping its worldwide facilities with integrated process automation technology.

08:06

GMET Geomet announces proved reserves of 209 bcf at December 31, 2009 (0.92 )

Co announced that its proved natural gas reserves as of December 31, 2009 prepared by DeGolyer and MacNaughton ("D&M"), independent petroleum engineers, totaled 209 bln cubic feet (Bcf). The present value of proved reserves discounted at 10% (PV-10 value) was ~$98 mln at December 31, 2009 as compared to ~$119 mln at September 30, 2009. Using a year-end price of $6.00 per Mcf, which includes adjustments for regional pricing differentials, (pursuant to SEC pricing guidelines in effect on September 30, 2009), the year-end proved reserves would have totaled 221 Bcf with a PV-10 value of ~$215 mln. The co's proved reserves at December 31, 2009 are 100% coalbed methane and 75% developed. ~62% of total year-end 2009 proved reserves are in the Pond Creek and Lasher fields in West Virginia and Virginia, and 38% are in the Gurnee field in Alabama.

08:06

BBBB Blackboard to Acquire Saf-T-Net, Inc., Provider of AlertNow for ~$33 mln; reaffirms guidance for 1Q10 (42.55 )

Co announces that it has entered into a definitive agreement to acquire privately-held Saf-T-Net, provider of AlertNow, a leading messaging and mass notification solution for the K-12 marketplace, for ~$33 million in cash, excluding transaction costs and subject to certain adjustments. Blackboard management does not expect that the acquisition of Saf-T-Net will have an impact on the Company's first quarter financial results given an anticipated closing in late March. Accordingly, Blackboard management is re-affirming its previous guidance for the first quarter 2010. Blackboard management currently expects Saf-T-Net to contribute approximately $5.5 million to Blackboard's 2010 GAAP revenue, assuming the anticipated late March closing date for the acquisition. The Company also expects the acquisition to be dilutive to full year 2010 by approximately ($0.09) to GAAP net income per diluted share and by approximately ($0.05) to non-GAAP net income per diluted share. Management estimates that there will be approximately ($0.04) per share of dilution in Q2 2010 to non-GAAP net income primarily related to the purchase accounting adjustment to Saf-T-Net's deferred revenue and an additional ($0.01) per share of dilution in Q4 2010 to non-GAAP net income related to the timing of non-recurring integration costs. The Company currently expects Saf-T-Net to have a positive impact on non-GAAP net income per diluted share beyond 2010. For FY10, the co expects revenues of $429.5 to $445.5 million vs First Call consensus expectations of $432 mln; co sees non-GAAP adjusted net income per diluted share of $1.60 to $1.89 vs First Call expectations of $1.81.

08:05

ITG Investment Tech announces that Feb US trading volume was 3.1 billion share (17.76 )

Co announces that February 2010 US trading volume was 3.1 billion shares and average daily volume was 161 million shares. This compares to 3.5 billion shares and ADV of 184 million shares in January 2010 and 4.0 billion shares and ADV of 209 million shares in February 2009.

08:03

SEED Origin Agritech develops strategic business unit for premium branded pesticide products (10.33 )

Co announces it has developed a strategic pesticide business unit for premium branded chemical products. The company expects a premium branded glyphosate product to be marketed immediately into the domestic agricultural market for the 2010 selling season. This branded product expects to be sold at a premium to other non-branded products in the current Chinese marketplace and will work in conjunction with Origin's glyphosate-resistant seed portfolio, currently in regulatory approval phases. The pesticide portfolio developed will be designed to work synergistically with the existing hybrid and genetically modified seed products. The current pesticide market in China is roughly 90 Billion RMB industry in China.

08:03

HRBR Harbor BioSciences reports new Ph. I/IIa data at ASCO; announces plans to advance prostate cancer treatment Apoptone to Ph. IIb (0.69 )

Co says it had reported encouraging data from its ongoing Phase I/IIa clinical trial with Apoptone for castration resistant prostate cancer -- also referred to as hormone resistant prostate cancer -- at the ASCO Genitourinary Cancers Symposium on March 6, 2010. Preliminary results from this study, conducted with participating member sites of the Prostate Cancer Clinical Trial Consortium, were first reported on November 16, 2009. "Due to the initial observation of disease stabilization that we have seen in late-stage patients, we have worked with the PCCTC on a planned 226 patient Phase IIb trial in both taxane-resistant and taxane-naive CRPC patients," commented Dwight Stickney, M.D., Chief Medical Officer of Harbor BioSciences. "The Phase I/IIa trial was designed as a dose escalation study; and we acquired sufficient data to select the doses that will be used in the Phase IIb trial," Dr. Stickney added. R. Bruce Montgomery, M.D., Associate Professor, Department of Medicine, Division of Oncology, University of Washington School of Medicine, and lead investigator of the ongoing Phase I/IIa clinical trial, presented the updated Apoptone data at the ASCO symposium on March 6, with the results described below.

08:03

PTEC Phoenix Tech appoints Robert Andersen interim CFO effective March 5, 2010 (3.40 )

08:02

SSTI Silicon Storage shareholders to receive $3.05/share in cash under newly amended merger agreement with Microchip (3.25 ) -Update-

Co announces that it entered into a second amendment to its Feb. 2, 2010 definitive agreement to acquire Silicon Storage Technology (SSTI). Under the revised terms, SSTI shareholders would be entitled to receive $3.05/share in cash compared to $3.00/share prior to the second amendment. This second amendment was in response to an offer made by another party to SSTI's Strategic Committee on March 2, 2010. Additionally, in connection with the amendment, MCHP is today purchasing directly from SSTI newly issued shares in an amount equal to 19.9% of the current issued and outstanding shares of the common stock of SST at $3.05/share in cash. In the event that MCHP's acquisition of SSTI is not consummated, MCHP has agreed that as a general matter, it will not use its voting rights to block a transaction that constitutes a superior proposal and the profits on its sales in such transaction will be limited. Furthermore, MCHP will have an option to sell its shares back to SSTI at $3.05 per share.

08:01

RFMD RF Micro Device sees Q4 EPS of $0.11-0.12 vs $0.10 First Call consensus; revs $240-245 mln vs $231.79 mln First Call consensus (4.82 )

The co now expects to generate quarterly revenue of approximately $240 million to $245 million (First Call Consensus $232 mln), which represents approximately 41% year-over-year growth at the midpoint of this updated outlook. As a result of the anticipated increase in revenue, RFMD expects to achieve non-GAAP quarterly earnings per share of approximately $0.11 to $0.12 (First Call Consensus $0.10). RFMD is experiencing broad-based strength in its core business this quarter, with current customer demand significantly outpacing original expectations in both the cellular products group and multi-market products group. RFMD is seeing particular strength in China and Korea and expects continued market share gains across leading cellular baseband providers and handset manufacturers this calendar year.

08:01

CIEN Ciena announces proposed private sale of $250 mln in convertible senior notes due 2015 (16.01 )

08:01

CAVO Cavico continues to estimate that 2010 net income will be in the range of $1.1-1.5 million - no ests (4.20 )

Co's CEO HA Quang Bui noted that Cavico is well-positioned to benefit from the Vietnamese government's $8 bln economic stimulus package, enacted in April 2009, which included $5.2 bln earmarked for construction and infrastructure, of which $2 bln is fast tracked for critical projects related to energy and power.

07:57

TRH Transatlantic Hldngs Announces Stock Repurchase Agreement and Preliminary Estimate of Costs from First Quarter 2010 Catastrophe Events (51.96 )

Co announced that it has agreed to purchase 2 mln shares of its common stock from American Home Assurance, a subsidiary of American International Group, Inc., in AHAC's previously announced secondary public offering of TRH's common stock. The shares are to be repurchased at the initial price to the public in the offering, as adjusted pursuant to an agreement among TRH, AHAC and the underwriters in the offering. Industry sources expect the insurance and reinsurance industry to report sizeable losses related to certain first quarter catastrophe events. For the recent earthquake in Chile, insured losses for the industry are expected to range between $2 bln and $8 bln. For European Windstorm Xynthia, insured losses for the industry are expected to range from $2 bln to $4 bln. TRH presently expects to incur net catastrophe costs (which are net of reinstatement premiums) of between $60 mln and $90 mln, net of tax, in the aggregate from such first quarter 2010 events that have occurred to date.

07:50

AIG American Intl announces secondary public offering of its remaining shares in Transatlantic Holdings (28.08 ) -Update-

Co announces that it has commenced its secondary public offering of 9,192,662 shares of common stock of Transatlantic Holdings (TRH) owned by American Home Assurance Company, a wholly-owned AIG subsidiary, which includes shares that will be subject to a 30-day overallotment option. The offering is concurrent with TRH's addition to the S&P Midcap 400 Index. Index funds whose portfolios are primarily based on stocks included in the S&P Midcap 400 Index may be required to purchase shares as a result of the inclusion of TRH's common shares in the index. The offering is intended to be marketed to these index funds and to other investors, including non-index active investors. A portion of the total shares offered will be allocated to index funds.

07:45

YGE Yingli Green Energy announces 300 MW PANDA mono-crystalline manufacturing capacity expansion project (12.88 )

Co announces a 300 MW PANDA mono-crystalline silicon-based manufacturing capacity expansion project at its Baoding headquarters. The Company also announced a project loan of RMB 1.5 billion for the financing of this expansion project and a working capital credit facility of RMB 250 million, both granted by the Bank of Communications. Yingli Green Energy also announced Yingli China has secured a project loan of RMB 1.5 billion and a working capital credit facility of RMB 250 million from BOCOM. Under the loan agreement, BOCOM has agreed to provide to Yingli China, subject to certain conditions, a five-year project loan of RMB 1.5 billion to support Yingli China's 300 MW expansion project in Baoding. In addition, BOCOM also granted a working capital credit facility of RMB 250 million to Yingli China.

07:41

COMDX Natural gas is trading lower this morning and is currently near its session lows at $4.474; now off 10.6 cents to $4.487

Note that crude oil is trading in positive territory, despite giving back most of its overnight gains; now higher by 38 cents to $81.88.

07:31

NDAQ NASDAQ OMX purchases North American energy credit and clearing business (20.03 )

Co announces the purchase of the business of North American Energy Credit and Clearing, a clearinghouse for the over the counter power and gas markets. The NECC transaction closed on March 3. Financial terms were not disclosed.

07:31

PEIX Pacific Ethanol announces agreements designed to satisfy $34.7 mln of outstanding debt (2.05 )

Co announces agreements designed to satisfy $34.7 mln of the co's outstanding debt, and to cure existing defaults on the debt. Socius CG II, has entered into agreements with the holders of this debt pursuant to which Socius purchased $5.0 mln of the aggregate amount of the debt, and then settled the resulting $5.0 mln owed in exchange for free-trading shares of the Company's common stock. Socius intends to acquire the balance of the debt and engage in further exchanges until the total debt is completely retired.

07:31

CWCO Consolidated Water announces water purchase contract for affiliate's Bar Bay plant in British Virgin Islands (13.38 )

The co announces that its affiliate, Ocean Conversion (BVI) ("OC-BVI") and the British Virgin Islands Government have signed a definitive contract for the purchase of water by the Government from OC-BVI's desalination plant located at Bar Bay, Tortola, BVI. CWCO owns a 43.5% equity interest in OC-BVI. The contract requires OC-BVI to complete a storage reservoir on the Government site within 12 months. The initial contract is for a seven-year term, with a seven-year extension option exercisable by the Government. Under the terms of the contract, the Government is obligated to purchase at least 600,000 US gallons of water per day from the Bar Bay plant, which has a total production capacity of 700,000 US gallons per day. The Bar Bay Plant has been delivering water to the Government since January 2009 under a Heads of Terms agreement that was signed between the parties in December 2008.

07:15

ICO International Coal announces concurrent offerings of common stock, convertible notes & senior secured second-priority notes also announces tender offer for notes due 2012 & 2014 (4.73 )

Co announced that it has commenced public offerings of up to 21.2 mln shares of its common stock, par value $0.01 per share; $75.0 mln aggregate principal amount of its convertible senior notes due 2017; and $200.0 mln aggregate principal amount of its senior secured second-priority notes due 2018 pursuant to the co's effective shelf registration statement filed with the SEC. The co expects to grant the underwriters a 30-day option to purchase up to an additional 3.18 mln shares of common stock in the common stock offering and up to an additional $11.25 mln aggregate principal amount of convertible notes in the convertible notes offering from the co, in each case, solely to cover over-allotments, if any. None of the offerings is contingent upon the completion of the other offerings. Co also announced that it has commenced a cash tender offer for any and all of the $139.5 mln aggregate principal amount of its outstanding 9.00% Convertible Senior Notes due 2012. Co also announces that it has commenced a cash tender offer for any and all of the $175.0 mln aggregate principal amount of its outstanding 10.25% Senior Notes due 2014.

07:07

On The Wires

Universal Stainless & Alloy Products (USAP) announces base price increases of 3% to 5% on all stainless and low alloy grade products manufactured at its Bridgeville and Dunkirk facilities. The increase will be effective for all new orders entered March 15, 2010... VIVUS (VVUS) announces the issuance of three additional patents by the U.S. Patent and Trademark Office covering Qnexa, an investigational new drug candidate for the treatment of obesity. The three new patents are the second, third, and fourth patents to be granted in a series of patent applications VIVUS has filed that are directed to the Qnexa product and methods of using Qnexa in various therapeutic applications... AGL Resources (AGL) announces that one of its executives, Sequent Energy Management President Douglas N. Schantz, is reported missing following a business trip to New Orleans... Banks.com (BNX) announces that it has paid off the remaining balance on its mezzanine debt notes held by CapitalSouth Partners and Harbert Management. The company also announced it has secured a $2.5 million Working Capital Facility through Silicon Valley Bank.

07:06

PKD Parker Drilling announces proposed private offering of senior notes (5.30 )

Co announces that it intends, subject to market and other conditions, to raise a total of approximately $300 million gross proceeds through a private offering of senior notes with an expected 8-year maturity. The Company intends to use the net proceeds of the offering of the senior notes to fund a cash tender offer and consent solicitation for all of the $225.0 million outstanding principal amount of the Company's 9-5/8% Senior Notes due 2013 and for general corporate purposes, which may include repayment of borrowings under its revolving credit facility.

07:04

CIT CIT Group: Crown Crafts extends financing agreement with CIT (35.99 )

Crown Crafts (CRWS) announces it amended its financing agreement with CIT Commercial Services, a subsidiary of CIT Group Inc. (CIT), that extends the termination date of the agreement to July 11, 2013. The amendment, which will become effective on July 11, 2010, also permits the co to declare cash dividends on its common stock of up to $500,000 in any calendar quarter.

07:01

ISIS ISIS Pharma earns $6 mln milestone payment from Bristol-Myers for BMS-PCSK9Rx (8.90 )

Co announces that it has earned a $6 mln milestone payment from Bristol-Myers Squibb (BMY) related to the acceptance of initial regulatory filings to begin Phase 1 clinical studies for BMS-PCSK9Rx. BMS-PCSK9Rx is an antisense drug that arose out of the ongoing collaboration between Bristol-Myers Squibb and Isis to identify antisense drugs targeting PCSK9 to lower low-density lipoprotein cholesterol.

06:41

LXRX Lexicon Pharma announces proposed $95 mln common stock offering (1.78 )

06:40

OSTE Osteotech's MagniFuse distributed to 68 U.S. Hospitals as product revenue surpasses $1 mln (3.96 )

Co announces that its MagniFuse Bone Graft has generated its first $1 mln in revenue during the four month period beginning with the limited launch of the product in late October 2009. Osteotech began the first phase of its strategic limited launch of MagniFuse with the release of three procedure specific forms for posterior cervical and posterolateral spine fusion and spinal deformity procedures. Since that time, the Company has successfully executed its multi-step launch strategy and will highlight a national launch at the upcoming American Academy of Orthopaedic Surgeons Annual Meeting in New Orleans, Louisiana.

06:29

S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -4.30.

06:29

Asian Markets

Nikkei...10585.92...+217.00...+2.10%. Hang Seng...21196.87...+408.90...+2.00%.

06:29

European Markets

FTSE...5583.22...-16.50...-0.30%. DAX...5875.92...-1.40...0.00.

06:26

AUO AU Optronics announces its preliminary consolidated February 2010 revenue of NT$32,666 million (10.82 )

Co announces its preliminary consolidated February 2010 revenue of NT$32,666 million, down by 14.5% from January and up by an impressive 112.4% year-over-year. Due to the Chinese New Year holidays and fewer workdays in February, large-sized panel shipments for February 2010, with applications as desktop monitors, notebook PCs, and LCD TVs, totaled around 8.01 mln units, a 15.3% drop month-over-month. As for small- and medium-sized panels, the shipments amounted to around 16.09 million units, down by approx 17.6% from the previous month.

06:18

DGW Duoyuan Global Water reports EPS in-line, revs in-line; issues upside revenue guidance for 1Q10 (26.50 )

Reports Q4 (Dec) earnings of $0.27 per ADS, in-line with the First Call consensus of $0.27; revenues increased 29.6% year/year to $28.4 mln vs $28.28 mln consensus. Co issues upside guidance for 1Q10, sees revenue of approx RMB 157.0 mln vs RMB 152.72 mln.

06:14

AIG American Intl confirms it will sell ALICO to MetLife for approx $15.5 bln (28.08 )

Co confirms a definitive agreement for the sale of American Life Insurance Company, to MetLife (MET) for approx $15.5 bln, including $6.8 bln in cash and the remainder in equity securities of MetLife, subject to closing adjustments. The cash portion of the proceeds from this sale will be used to reduce the liquidation preference of the Federal Reserve Bank of New York in the special purpose vehicle formed by AIG and the FRBNY to hold the interests in ALICO. "This sale is an important step toward repaying the government. ALICO is a unique international life insurer, and we view this as a terrific combination that will further enhance the company's potential over the long term. With this sale of ALICO, along with the sale of AIA to Prudential plc announced last week, we are on track to generate approximately $50.7 bln from these two transactions alone, consisting of approximately $31.5 bln in cash to repay the FRBNY, plus another approximately $19.2 bln in securities that we will sell over time to repay the government. In addition, both sales give AIG greater flexibility to move forward with our restructuring and rebuilding efforts, and focus on enhancing the value of our key insurance businesses."

06:11

THM International Tower Hill Mines announces key positive metallurgical test results for Livengood Gold project, Alaska (6.80 )

Co announces positive initial metallurgical test results for mill processing of the major types of mineralization at the Money Knob deposit at the Livengood Gold Project, Alaska. On average, 88% of the gold reported to the concentrates during initial combined gravity and flotation gold recovery tests. Results are highly encouraging for the use of a pre-concentration gold recovery system for the Money Knob mineralization. These initial pre-concentration gold recovery results suggest that the economics of a mining operation at Livengood could benefit significantly from the utilization of standard flotation and gravity circuits. Potentially, both the operating and capital costs for a milling operation could be reduced by decreasing the amount of material required during the intensive treatment for gold extraction. The initial test results indicate that concentration produces an 80% reduction in the material volume requiring further treatment to recover gold. The Company is currently engaged in further testing and optimization of both the concentration process and the extraction of gold from the concentrates.

06:06

KCI Kinetic Concepts announces it has received reimbursement approval from Japan's Health Insurance Bureau for use of the V.A.C. ATS Therapy System (42.99 )

Co announces it has received reimbursement approval from Japan's Health Insurance Bureau for use of the innovative V.A.C. ATS(R) Therapy System in the country. The approval signifies an important advancement in the company's plans for market launch in April and follows Japan's Ministry of Health, Labor and Welfare's decision in November 2009 to grant final regulatory approval for the product.

06:05

HLX Helix Energy Solutions updates strategic direction for oil and gas business (11.86 )

Co announces that it is engaging financial advisors to assist them in evaluating the strategic alternatives available for a complete divestment of its oil and gas business. In December of 2008, the co announced that it intends to divest an array of non-core assets, including all or part of its oil and gas assets. Since that announcement, the co has divested nearly all of its interest in Cal Dive International and 100% of its reservoir consulting business, Helix RDS, and has sought to divest portions of its Gulf of Mexico shelf oil and gas assets. HLX believes the business environment has become more favorable for a transaction and will now look at the alternatives available to divest its entire oil and gas business. HLX is unable to be specific with respect to a timetable for a divestment of its oil and gas business and there are many factors that will affect its ability to execute on a divestment, but it intends to aggressively focus on the monetization of its oil and gas business.

05:48

XRTX Xyratex issues upside EPS and revenue guidance for 1Q10 (15.33 )

Co issues upside guidance for Q1 (Feb), sees GAAP EPS of $0.77-0.87 vs. non-GAAP $0.46 First Call consensus (co's previous guidance range called for GAAP EPS of $0.24-0.52); sees Q1 (Feb) revs of $313.0-318.0 mln vs. $270.61 mln consensus (prior range $245.0-285.0 mln). "We have continued to see an improvement in demand in both our businesses and across all of our major customers. The actions we undertook with regard to the supply chain have helped mitigate the component constraints that impacted our fourth quarter revenue within our Networked Storage Solutions ("NSS") business. Our upside in revenue this quarter is primarily attributable to the NSS business and reflects the shipment of fourth quarter backlog as well as incremental demand during the quarter," said Steve Barber, CEO of Xyratex.

03:37

ASX Advanced Semiconductor Engineering announces February 2010 unaudited consolidated net revenues increased 202% year/year to NT$ 12.98 bln; sequential change was +48.8% (4.23 )

02:41

BK BNY Mellon agrees to acquire BHF Asset Servicing GmbH (29.70 )

BNY Mellon agrees to acquire BHF Asset Servicing GmbH from BHF-BANK Aktiengesellschaft and Sal. Oppenheim jr. & Cie. S.C.A. for EUR253 mln ($343 mln), subject to regulatory approvals. This transaction will include the purchase of BHF Asset Servicing's wholly-owned fund administration affiliate, Frankfurter Service Kapitalanlage-Gesellschaft mbH. The transaction is expected to be immediately accretive to GAAP EPS.

01:44

GOL GOL Linhas Areas Inteligentes S.A. announces February 2010 traffic figures (13.40 )

In February 2010, demand on GOL's route network grew by 46.9% over the same period last year (47.9% in the domestic market and 40.3% in the international market). Co reports a total load factor of 72.8% in February 2010 - 72.4% in the domestic market and 74.9% in the international market, the latter increase being 24.1% above the 50.8% recorded in February 2009, while the domestic ratio climbed by 12.4% over the 60.0% registered in the same month last year.

01:42

On The Wires

Cell Therapeutics (CTIC) announces the FDA has completed its inspection of the facility at NerPharMa (a pharmaceutical manufacturing co belonging to Nerviano Medical Sciences Srl, in Nerviano, Italy), which manufactures the CTI's drug pixantrone and has found the site in compliance and acceptable for continued manufacturing of the drug product... NC2 Global LLC, the global joint venture between Caterpillar (CAT) and Navistar Int'l (NAV), is set to launch Australian operations, with truck sales to begin mid-year... Shell Energy Holdings Australia Ltd., a subsidiary of Royal Dutch Shell (RDS.A), confirms it is participating in disucssions to acquire Arrow Energy Ltd, excluding its international assets... TiVo (TIVO) and Conax, a provider of security solutions for digital TV and content distribution, announce that they have partnered to offer a next generation DVB set-top box platform.

17:49

ALGT Allegiant Travel Co to purchase six Boeing 757 Aircraft (52.91 -0.12)

Co announced it has signed a forward purchase agreement to acquire six Boeing 757-200 aircraft. The introduction of the 757 aircraft will enable Allegiant to expand its leisure travel strategy into Hawaii with flights to be operated by Allegiant Air, LLC, its airline subsidiary.

17:49

PCX Patriot Coal temporarily suspends operations at Federal mine (21.67 +2.57)

Co reported that it has temporarily suspended active mining operations at the Federal No. 2 mine near Fairview, West Virginia. Mining operations ceased after one measurement in an abandoned area of the mine was found to be out of compliance during routine testing in accordance with the mine's ventilation plan. As a result, the Company is making further refinements to its ventilation plan to address these conditions. The co intends to review these refinements with the U.S. Department of Labor, Mine Safety & Health Administration as soon as possible in order to resume production at the mine.

17:01

NEU NewMarket: Afton Chemical announces acquisition of Polartech (100.70 +2.26)

Co announced the completion of its Polartech acquisition. Polartech is a global company specializing in the supply of metalworking additives. With this acquisition, Afton strengthens its industrial product portfolio with Polartech's premier metalworking fluid additive technology.

16:38

HEP Holly Energy Partners, L.P. announces pricing of $150 mln 8.25% senior notes (42.64 +0.58)

Co announced that it and its wholly owned subsidiary, Holly Energy Finance Corp., have priced an offering of $150 mln in aggregate principal amount of their 8.25% senior notes due 2018. The 8.25% senior notes mature on March 15, 2018. The offering is expected to close on March 10, 2010, subject to customary closing conditions. The Partnership intends to use ~$93.0 mln of the net proceeds from the offering to acquire petroleum storage tanks with 2 million barrels of capacity and certain rail loading rack facilities at Holly Corp's Tulsa refinery and an asphalt truck loading rack and terminal building at Holly Corporation's Lovington, New Mexico refinery from Holly Corporation.

16:24

PHM Pulte Homes: National Labor Relations Board dismisses laborers' International Union of North America charge against Pulte Homes (11.23 +0.36)

Co announced today that the National Labor Relations Board for Region 28 has dismissed a charge filed by the Laborers' International Union of North America that alleged Pulte Homes, Inc. violated the National Labor Relations Act.

16:23

RKT RockTenn announces price increase on coated recycled paperboard products (42.99 -0.11)

Co announces today a $45 per ton price increase on Classic NewsTM, AngelCote and MillMask coated recycled paperboard products. Price increases are effective with shipments on April 6, 2010.

16:22

HPQ Hewlett-Packard revises previously reported Q1 EPS results lower due to litigation charge (52.03 +0.52) -Update-

The co revised its previously announced financial results for its first fiscal quarter ended Jan. 31, 2010, following developments in litigation involving Electronic Data Systems Corporation (EDS), a coy that HPQ acquired in August 2008. The revisions reflect an increase in the amount of the contingency reserve previously established in connection with the litigation and resulted in a negative impact on HP's Q1 net earnings of ~$73 mln, or $0.03 per diluted share. EDS and one of EDS's subsidiaries are defendants in litigation filed in the United Kingdom by Sky Subscribers Services Limited and British Sky Broadcasting Limited (BSkyB) in 2004 relating to a customer relationship management project that was awarded to EDS in 2000. At a court hearing held on March 1, 2010, the court ordered EDS to make an interim payment to BSkyB of 70 million, or ~$112 million, which is in addition to an interim payment of 200 mln, or ~$320 mln, that HP made voluntarily to BSkyB in February 2010. Following that March 1 hearing, HP determined that it was appropriate to increase the contingency reserve. HP will continue to evaluate the reserve pending final resolution of the litigation. Non-GAAP net earnings has been revised to $2.59 billion, with non-GAAP diluted EPS of $1.07 - down from the previously reported non-GAAP net earnings of $2.67 billion and non-GAAP diluted EPS of $1.10. Briefing.com note: Consensus for Q1 EPS on Feb 17 was $1.06.

16:19

NOC Northrop Grumman Team awarded CANES development contract (64.22 +1.14)

Co announced the U.S. Navy has selected Northrop Grumman (NOC) for the development phase of the U.S. Navy's Consolidated Afloat Networks and Enterprise Services (CANES) program. CANES will streamline and update shipboard network systems to improve interoperability and affordability across the fleet. A team led by Northrop Grumman received a $17.4 mln indefinite-delivery/indefinite-quantity, cost-plus-incentive-fee, cost-plus-fixed-fee and firm-fixed-price contract, one of two CANES Common Computing Environment system development contracts awarded by the Program Executive Office C4I, Tactical Networks Program Manager (PMW-160) in San Diego on March 4. Work under the contract is expected to be complete in April 2011.

16:16

SFNC Simmons First National announces closings of 9 financial centers (27.30 +0.36)

Co announced that it will be closing nine financial centers in nine cities throughout Arkansas in June as part of a "Branch Right Sizing" initiative.

16:06

HPQ revises Q1 EPS lower due to litigation charges

16:05

ZHNE Zhone Technologies Board of Directors approves one-for-five reverse stock split (0.48 -0.01)

Co announces that its Board of Directors approved a one-for-five reverse stock split of its common stock which will become effective on or about March 11, 2010. The reverse stock split was authorized by Zhone's shareholders at a special meeting held on October 16, 2008.

16:04

SY Sybase increases its stock repurchase program by $150 mln & determines to pay a mix of cash & stock for the conversion premium on its convertible subordinated notes due 2015

Co announced that ~$390 mln of its 1.75% convertible subordinated notes due 2025 were converted by noteholders following Sybase's notice of redemption for the Notes. Sybase has previously used cash to fund the repurchase, redemption or conversion of approximately $70 mln of additional Notes that were part of the 2005 note issue. Co also approved the repurchase of up to an additional $150 mln of the co's outstanding common stock and the co's notes convertible into common stock. With today's $150 mln increase, the total amount available under the stock repurchase program is $233.3 mln.

16:02

FNF Fidelity National Financial announces amendment and extension of credit facility (14.49 +0.09)

Co announced the amendment and extension of its existing $1.1 bln senior unsecured revolving credit facility ("credit facility") that was scheduled to mature on October 24, 2011. The total size of the extended credit facility has been reduced to $925 million, with an FNF option to increase the size of the credit facility to $1.1 bln , and the maturity date has been extended to March 5, 2013. Pricing under the extended credit facility has increased to an applicable margin of between 110 basis points to 190 basis points over LIBOR, depending on the senior debt ratings of FNF.

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