Briefing.com: Hourly In Play (R) – 17:00 ET
Apr 28, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 28-Apr-10 17:00 ET
16:58
OIS Oil States beats by $0.09, beats on revs (49.10 +1.09)
Reports Q1 (Mar) earnings of $0.78 per share, $0.09 better than the Thomson Reuters consensus of $0.69; revenues fell 20.2% year/year to $532.3 mln vs the $517.9 mln consensus. Co said, "Looking forward, the outlook for our oil sands accommodations continues to improve. Oil sands operators have recently announced additional investments in the region which should bode well for the occupancy of our existing rooms and may present opportunities for further capacity expansions. Bidding activity in our Offshore Products segment remains at healthy levels; however, the timing of awards remains uncertain. Despite marginal natural gas prices, U.S. drilling activity remains resilient largely due to hedging activities of our customers, drilling to hold leases and increases in rigs drilling for oil and liquids rich gas."
16:57
SIGI Selective Insurance beats by $0.03, beats on revs (16.93 +0.14)
Reports Q1 (Mar) earnings of $0.12 per share, $0.03 better than the Thomson Reuters consensus of $0.09; revenues rose 10.2% year/year to $393.1 mln vs the $374.8 mln consensus.
16:57
JBHT JB Hunt Trans announced that the Board of Directors has authorized the repurchase of up to $500 million of its common stock (36.85 +0.17)
16:56
SCI Service Corp reports EPS in-line, revs in-line (9.36 -0.02)
Reports Q1 (Mar) earnings of $0.13 per share, in-line with the Thomson Reuters consensus of $0.13; revenues rose 4.0% year/year to $530.9 mln vs the $526.6 mln consensus.
16:55
OPWV Openwave joins F5 Networks technology alliance program (2.72 +0.05) -Update-
Co announced a partnership with F5 Networks (FFIV). This collaboration is expected to provide intelligent integration of the companies' products and enable dynamic policy control and enforcement with user- and service-level awareness as part of Openwave's traffic mediation solutions for wireless operators worldwide. Through the technology partnership, Openwave Smart Policy, a context-aware policy management solution, and Openwave Integra, a traffic and policy management solution, will be integrated with F5 BIG-IP solutions.
16:55
INET Internet Brands reports EPS in-line, revs in-line; reaffirms full year guidance, but slightly raising the low end (10.46 -0.54)
Reports Q1 (Mar) earnings of $0.07 per share, in-line with the Thomson Reuters consensus of $0.07; revenues rose 12.3% year/year to $26.4 mln vs the $26.3 mln consensus. Adjusted EBITDA margins in the first quarter of 2010 expanded 480 basis points year-over-year to 39.9%. The Company's Adjusted EBITDA margins have continued to expand as a result of the continued shift from lower margin automotive e-commerce revenues to higher margin advertising revenues and from the leverage derived from the Company's common operating platform... The Company is reaffirming its full year guidance, but slightly raising the low end of its previously issued guidance. Co issues in-line guidance for Q2, sees Q2 revs of $27.25-28.25 mln vs. $27.45 mln Thomson Reuters consensus. Q2 Adjusted EBITDA to be approximately $11.0 to $11.5 million (consensus $11.2 mln), representing year-over-year Adjusted EBITDA growth of 18-23%. For FY10, sees FY10 revs of $113-118 vs. $114.14 mln Thomson Reuters consensus. Adjusted EBITDA in 2010 is expected to be approximately $46.5 to $48.0 million (consensus $44.8 mln), representing year-over-year Adjusted EBITDA growth of 16-20%.
16:55
RNOW Rightnow Tech misses by $0.01, reports revs in-line; guides Q2 EPS below consensus, revs in-line; reaffirms FY10 EPS guidance, revs guidance (18.34 -0.36)
Reports Q1 (Mar) earnings of $0.07 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of $0.08; revenues rose 16.9% year/year to $42.1 mln vs the $42.3 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.07-0.09, excluding non-recurring items, vs. $0.10 Thomson Reuters consensus; sees Q2 revs of $42.5-43.5 mln vs. $43.23 mln Thomson Reuters consensus. Co reaffirms guidance for FY10, "despite the recent decline in foreign currency exchange rates" sees EPS of $0.40-0.45, excluding non-recurring items, vs. $0.43 Thomson Reuters consensus; sees FY10 revs of $175-180 mln vs. $178.09 mln Thomson Reuters consensus. Recurring revenue in the first quarter of 2010 increased 27% to $33.0 million from $26.0 million in the first quarter of 2009. "Our CX vision for customer experience continues to resonate with customers and prospects around the world, driving continued momentum throughout our business," stated Greg Gianforte, CEO and founder. "The Cloud Services Agreement (CSA) we announced in March is changing the way customers do business with software vendors. We believe we are the best choice for consumer facing organizations choosing to deliver an integrated customer experience across the web, social and contact center channels."
16:54
CBL CBL & Assoc beats by $0.03, beats on revs; reaffirms FY10 FFO guidance (14.03 -0.18)
Reports Q1 (Mar) funds from operations of $0.49 per share, $0.03 better than the Thomson Reuters consensus of $0.46; revenues fell 1.8% year/year to $266.2 mln vs the $262.2 mln consensus. Co issues reaffirms guidance for FY10, sees FFO of $1.82-$1.90 vs. $1.86 Thomson Reuters consensus. The full year guidance assumes $3-$5 mln of outparcel sales and same-center NOI growth in the range of (1.5%) to (3.5%), excluding the impact of lease termination fees from both applicable periods.
16:53
CWT California Water misses by $0.01, misses on revs (37.96 -0.44)
Reports Q1 (Mar) earnings of $0.10 per share, $0.01 worse than the Thomson Reuters consensus of $0.11; revenues rose 4.3% year/year to $90.3 mln vs the $93.6 mln consensus.
16:53
CERN Cerner beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (90.26 +0.94)
Reports Q1 (Mar) earnings of $0.63 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.61; revenues rose 9.9% year/year to $431.3 mln vs the $430.2 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.64-0.69, excluding non-recurring items, vs. $0.67 Thomson Reuters consensus; sees Q2 revs of $440-455 vs. $448.17 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $2.80-2.90, excluding non-recurring items, vs. $2.86 Thomson Reuters consensus; sees FY10 revs of $1.80-1.875 bln vs. $1.85 bln Thomson Reuters consensus.
16:52
WSH Willis Group beats by $0.10, beats on revs (33.20 +0.18)
Reports Q1 (Mar) earnings of $1.27 per share, excluding non-recurring items, $0.10 better than the Thomson Reuters consensus of $1.17; revenues rose 4.5% year/year to $972 mln vs the $956 mln consensus.
16:52
GSIC GSI Commerce beats by $0.10, beats on revs; guides Q2 revs above consensus; guides FY10 revs in-line (28.08 -0.45)
Reports Q1 (Mar) loss of $0.13 per share, $0.10 better than the Thomson Reuters consensus of ($0.23); revenues rose 38.7% year/year to $272.6 mln vs the $261.9 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $260 mln vs. $258.50 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees FY10 revs of $1.3 bln vs. $1.32 bln Thomson Reuters consensus.
16:51
SRCL Stericycle beats by $0.02, beats on revs (57.07 +1.07)
Reports Q1 (Mar) earnings of $0.57 per share, $0.02 better than the Thomson Reuters consensus of $0.55; revenues rose 21.0% year/year to $335.2 mln vs the $322.8 mln consensus.
16:51
CRA Celera Genomics misses by $0.01, reports revs in-line; guides FY10 EPS in-line, revs in-line (7.10 +0.05)
Reports Q1 (Mar) loss of $0.12 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of ($0.11); revenues fell 31.3% year/year to $31.4 mln vs the $31.4 mln consensus. Co issues in-line guidance for FY10, sees EPS of ($0.15)-($0.21) vs. ($0.20) Thomson Reuters consensus; sees FY10 revs of $145-155 mln vs. $149.03 mln Thomson Reuters consensus. "Berkeley HeartLab recently launched a 9p21 genetic testing service, as scheduled, to identify individuals at risk for early myocardial infarction, and we expect to launch in the third quarter a genetic testing service that helps assess an individual's response to the anti-clotting drug, Plavix(R), further strengthening our cardiovascular genetic pipeline. Importantly, cardiovascular genetic testing is growing year over year, and we expect to achieve our goal of doubling revenues from these services to more than $20 million this year."
16:50
PDO Pyramid Oil announces that horizontal wall did not encounter adequate hydrocarbons (5.74 -0.11)
Co announces that a horizontal well recently initiated on one of its Mountain View properties was drilled to its objective but did not encounter adequate hydrocarbons to warrant completion of the well.
16:50
LOOP Loopnet beats by $0.01, beats on revs; guides Q2 EPS in-line, revs above consensus (11.49 -0.10)
Reports Q1 (Mar) earnings of $0.06 per share, ex-items, $0.01 better than the Thomson Reuters consensus of $0.05; revenues fell 6.5% year/year to $18.8 mln vs the $18.2 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.04-0.05, excluding non-recurring items, vs. $0.05 Thomson Reuters consensus; sees Q2 revs of $18.6-18.8 mln vs. $18.38 mln Thomson Reuters consensus.
16:49
TTEK Tetra Tech beats by $0.01, reports revs in-line; guides Q3 EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (22.64 +0.10)
Reports Q2 (Mar) earnings of $0.23 per share, $0.01 better than the Thomson Reuters consensus of $0.22; revenues fell 1.9% year/year to $325.9 mln vs the $324.9 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.27-0.31 vs. $0.29 Thomson Reuters consensus; sees Q3 revs of $350-370 mln vs. $369.11 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $1.10-1.18 vs. $1.14 Thomson Reuters consensus; sees FY10 revs of $1.375-1.425 bln vs. $1.43 bln Thomson Reuters consensus.
16:48
TTEK Tetra Tech joint venture awarded $300 mln Navy wet utilities contract (22.84 +0.30)
Co announced that its Tetra Tech -Pascal & Ludwig Constructors joint venture has been awarded a combined $300 million capacity contract to provide design-build services for wet utilities projects primarily in Southern California. Seven contractors will compete for firm-fixed price task orders under this indefinite delivery/indefinite quantity contract with the Naval Facilities Engineering Command Southwest (NAVFAC Southwest). The contract has one base year and four one-year option periods. This contract includes new construction, renovation, alterations, and repairs to existing water utilities at U.S. Navy and other Department of Defense facilities, including water and sewer lines, wells, pumping stations, treatment plants, and storage tanks. Individual task orders will range from $500,000 to $20 million.
16:46
GPRE Green Plains Renewable Energy beats by $0.06, beats on revs (14.80 +0.25)
Reports Q1 (Mar) earnings of $0.58 per share, $0.06 better than the Thomson Reuters consensus of $0.52; revenues rose 92.9% year/year to $426.5 mln vs the $418.1 mln consensus.
16:43
TLCR Talecris Biotherapeutics beats by $0.03, misses on revs; reaffirms FY10 EPS and revs guidance (18.83 -0.30)
Reports Q1 (Mar) earnings of $0.35 per share, $0.03 better than the Thomson Reuters consensus of $0.32; revenues rose 2.5% year/year to $381 mln vs the $389 mln consensus. Co issues reaffirms guidance for FY10, sees EPS of $1.42-$1.50 vs. $1.46 Thomson Reuters consensus; sees FY10 revs of $1.62-$1.65 bln vs. $1.64 bln Thomson Reuters consensus. Gross margin is anticipated to be in the range of 42.3% to 42.8% representing an increase of 110 to 160 basis points compared to full year 2009. Operating margin is anticipated to increase in the range of 300 basis points compared to full year 2009.
16:41
FPO First Potomac Realty announced that it acquired Three Flint Hill, in Fairfax County, Virginia; The eight-story, 174,000-square-foot office building was acquired for $13.6 million (34.10 -0.56)
Co announced that it acquired Three Flint Hill, in Fairfax County, Virginia. The eight-story, 174,000-square-foot office building was acquired for $13.6 million, or approximately $78 per square foot. The property, which is currently vacant, was built in 1984 and had been occupied by a single tenant on a long term basis through 2008. The property is located just off the Interstate 66/Route 123 interchange. The Company plans to spend an additional $5 million, or approximately $30 per square foot, to fully renovate the building and to prepare it for re-tenanting.
16:39
PAC Grupo Aeroportuario del Pacifico reports Q1 results (35.03 +0.13)
Co reports that Q1 revenues increased 5.7% (Ps. 51.0 million), mainly due to a 9.1% (Ps. 63.2 million) increase in revenues from aeronautical services. Cost of services rose 6.3% (Ps. 13.4 million), mainly as a result of an increase in employee costs. EBITDA increased 5.5% (Ps. 33.3 million), from Ps. 602.8 million in 1Q09 to Ps. 636.1 million in 1Q10.
16:38
SUNH Sun Healthcare reports EPS in-line, revs in-line (9.23 -0.02)
Reports Q1 (Mar) earnings of $0.24 per share, in-line with the Thomson Reuters consensus of $0.24; revenues rose 1.1% year/year to $473.3 mln vs the $477.1 mln consensus. "Although we're still not seeing positive sustainable trends on the top line for our nursing centers or staffing business, the company turned in a solid quarter, driven by several factors. The acuity of the patients we care for was at an all-time high, increasing our Medicare rates and mitigating, to some extent, soft occupancy and skilled mix. Our hospice and contract rehab businesses delivered strong top-line results, and both segments are poised to have their best years in terms of EBITDA margin. In addition, our corporate overhead costs were well managed, which in turn contributed positively to our EPS results for the quarter. We increased our capital expenditure investments made in the year-over-year quarter by $5.2 million and even with that increased investment were able to generate solid free cash flow for the quarter of $21.0 million."
16:36
EFX Equifax beats by $0.01, reports revs in-line; guides Q2 EPS in-line (35.26 -0.14)
Reports Q1 (Mar) earnings of $0.56 per share, $0.01 better than the Thomson Reuters consensus of $0.55; revenues rose 3.3% year/year to $461.3 mln vs the $464.5 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.55-0.59 vs. $0.59 Thomson Reuters consensus. Based on the current level of domestic and international business activity and current foreign exchange rates, consolidated revenue for the second quarter of 2010 is expected to be up in the low to mid single-digits from the year-ago quarter. "The strength and diversity of our business units were again evident with our first quarter performance. North America Personal Solutions and North America Commercial Solutions exceeded our expectations for revenue growth, and four of our five business units achieved constant dollar growth over the prior year during the quarter," said Richard F. Smith, Equifax's Chairman and Chief Executive Officer. "Even more encouraging, as the economy stabilized and our clients focused more on new opportunities, our revenue trends generally strengthened as the quarter progressed."
16:35
G Genpact reports Q1 in-line; reaffirms FY10 revs in-line (17.53 +0.19)
Reports Q1 (Mar) adjusted earnings of $0.15 per share, in-line with the First Call consensus of $0.15; revenues rose 8.4% year/year to $288.23 mln vs the $290.0 mln consensus. Co reaffirms FY10 revs growth of 14-17%, which calculates to ~$1.28-1.31 bln vs. $1.29 bln consensus.
16:35
GERN Geron beats by $0.02, beats on revs (5.75 +0.12)
Reports Q1 (Mar) loss of $0.18 per share, $0.02 better than the Thomson Reuters consensus of ($0.20); revenues rose 109.1% year/year to $0.9 mln vs the $0.6 mln consensus.
16:35
WLT Walter Energy announces purchase of HighMount Exploration and Production LLC for $210 mln (91.66 +2.35)
Co announced that Walter Natural Gas, LLC, a wholly owned subsidiary, has entered into a definitive purchase agreement to acquire the Alabama natural gas interests of HighMount Exploration and Production LLC, for approximately $210 mln in cash. The transaction is expected to close in the second quarter 2010 and is subject to a number of customary closing conditions.
16:34
WLT Walter Energy misses by $0.01, beats on revs (91.96 +2.35)
Reports Q1 (Mar) earnings of $0.88 per share, excluding $0.09 of unusual charges, $0.01 worse than the Thomson Reuters consensus of $0.89; revenues rose 10.2% year/year to $312 mln vs the $305.8 mln consensus. The Company maintains its 2010 full-year coking coal sales expectations of approximately 8.0 million tons. Coking coal production is expected to total 1.7 million to 1.9 million tons in the second quarter, with production costs expected to average between $55 and $60 per ton. Second quarter coal sales at Walter Minerals are expected to be in line with recent periods. However, operating income is projected to be lower due to equipment maintenance costs planned in the second quarter, impacting the operating income margin by approximately $10 per ton. Operating income is expected to return to normal levels in the third quarter. As a result of strengthening domestic steel capacity utilization, Walter Coke has returned to full production. Continued increases in metallurgical coke prices are expected to drive higher revenues and operating income in the second quarter.
16:33
DRE Duke Realty reports FFOs in-line, beats on revs; reaffirms FY10 FFO guidance (13.20 -0.05)
Reports Q1 (Mar) funds from operations of $0.28 per share, in-line with the Thomson Reuters consensus of $0.28; revenues rose 2.2% year/year to $222 mln vs the $216.1 mln consensus. Co reaffirms guidance for FY10, sees FFO of $0.95-1.15 vs. $1.07 Thomson Reuters consensus. "Although the environment remains challenging, we are pleased to report that the second half of the first quarter showed a significant improvement in our operations. The primary driver was leasing activity in our bulk warehouse portfolio."
16:32
CINF Cincinnati Fincl misses by $0.03 (29.17 +0.28)
Reports Q1 (Mar) earnings of $0.42 per share, $0.03 worse than the Thomson Reuters consensus of $0.45. First-quarter 2010 net income nearly doubled the year-ago result, driven by the after-tax net effect of three major contributing items: a $24 million increase from property casualty underwriting results, a $7 million increase from net realized investment gains, and a $3 million increase from investment income. The higher property casualty contribution reflected lower weather-related catastrophes and more favorable development on open insurance claims that originated prior to 2010. Co reports $29.86 book value per share at March 31, 2010, up 2 percent from December 31, 2009.
16:31
DAVE Famous Dave's reports EPS in-line, misses on revs (9.29 +0.05)
Reports Q1 (Mar) earnings of $0.15 per share, excluding one-time non-cash gains of approx $2.1 mln or $0.15 per diluted share related to the acquisition of seven restaurants in New York and New Jersey and the termination of a Marietta, Georgia lease, in-line with the Thomson Reuters consensus of $0.15; revenues fell 3.6% year/year to $32.6 mln vs the $33.6 mln consensus. The company reiterates its guidance on restaurant development, as issued in its fourth quarter earnings release, and anticipates opening one company-owned restaurant and approximately eight franchise-operated restaurants during fiscal 2010.
16:31
AHL Aspen Insurance misses by $0.08, reports revs in-line (28.31 -0.02)
Reports Q1 (Mar) earnings of $0.01 per share, $0.08 worse than the Thomson Reuters consensus of $0.09; revenues rose 4.5% year/year to $467.6 mln vs the $468.8 mln consensus. In light of the catastrophe losses associated with the earthquake in Chile, and general market conditions, the Company anticipates the combined ratio for the full year to be in the range of 92%-98% including a catastrophe load of $140 million for the remainder of the year, assuming normal loss experience. The Company anticipates gross written premium for the full year to be unchanged at $2.2 billion +/- 5% with ceded premium between 8% and 12% of gross earned premium. Despite the continuing low interest rate environment, the Company expects to maintain a book yield of around 4% on its fixed income portfolio during 2010. The tax rate is expected to be in the range of 9% to 13%.
16:31
BDN Brandywine Realty beats by $0.01, beats on revs; guides FY10 FFO in-line (12.90 +0.06)
Reports Q1 (Mar) funds from operations of $0.34 per share, $0.01 better than the Thomson Reuters consensus of $0.33; revenues fell 2.5% year/year to $143.1 mln vs the $139.1 mln consensus. Co issues in-line guidance for FY10, sees FFO of $1.27-$1.34 vs. $1.32 Thomson Reuters consensus and vs. prior guidance of $1.25-$1.34.
16:31
NBIX Neurocrine Biosci beats by $0.05, reports revs in-line (3.26 +0.08)
Reports Q1 (Mar) loss of $0.19 per share, $0.05 better than the Thomson Reuters consensus of ($0.24); revenues rose 0.8% year/year to $0.8 mln vs the $0.8 mln consensus. "All four of our clinical programs continue on track and each one will read out with important data over the next nine to twelve months. In particular, we are looking forward to the upcoming data from our elagolix Daisy PETAL study at the end of May. In addition, we have been able to significantly strengthen our balance sheet this past quarter through an equity offering, which added several high quality long-focused investment funds to our investor roster."
16:30
SPN Sup Energy Svcs beats by $0.06, reports revs in-line; reaffirms FY10 guidance (25.49 +0.66)
Reports Q1 (Mar) earnings of $0.27 per share, $0.06 better than the Thomson Reuters consensus of $0.21; revenues fell 16.6% year/year to $364.5 mln vs the $361.7 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.50-1.70 vs. $1.55 Thomson Reuters consensus.
16:30
ENTR Entropic Comms beats by $0.01, beats on revs (5.27 -0.09)
Reports Q1 (Mar) earnings of $0.06 per share, $0.01 better than the Thomson Reuters consensus of $0.05; revenues rose 55.6% year/year to $37.5 mln vs the $36.8 mln consensus. "New Pay-TV service provider deployments of MoCA with DIRECTV and U.S. cable MSOs, as well as expansion of our DBS-ODU footprint at DIRECTV, helped fuel our revenue growth in the first quarter. Our strong first quarter results support our belief that we are entering the second phase of growth for our MoCA home networking products. We believe that MoCA has become the de-facto standard for connected home entertainment in the U.S. and Entropic will help transform the way consumers experience, engage with, and distribute high-definition, digital video and multimedia content into and throughout the home."
16:29
AEA Advance America Cash misses by $0.01, misses on revs (6.93 -0.15)
Reports Q1 (Mar) earnings of $0.22 per share, $0.01 worse than the Thomson Reuters consensus of $0.23; revenues fell 7.7% year/year to $144.4 mln vs the $147.7 mln consensus. "Advance America maintained a solid performance throughout the quarter, amid the evolving operating environment we faced in several states due to regulatory changes. On the whole, we are experiencing growth in markets across the country which we believe is evidence of continued strong demand for the valuable financial service we offer to consumers. In fact, we are finding that a broader range of Americans are using our services, demonstrating a persistent and expanding need for dependable access to short-term credit."
16:29
BEAT CardioNet beats by $0.05, reports revs in-line (9.17 +0.01)
Reports Q1 (Mar) loss of $0.13 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of ($0.18); revenues fell 10.9% year/year to $31.8 mln vs the $31.8 mln consensus. Co said, "Our balance sheet remains strong with $45 million in cash and no debt. In the first quarter, our DSO was 113 days, an improvement of 9 days versus the fourth quarter 2009. We expect continued improvement during the remainder 2010."
16:28
SCOR ComScore beats by $0.15, beats on revs; guides FY10 revs above consensus (17.01 +0.21)
Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, $0.15 better than the Thomson Reuters consensus of $0.01; revenues rose 18.0% year/year to $36.1 mln vs the $35.3 mln consensus. "Given the positive results of this most recent quarter, we are now more optimistic about our prospects for full-year 2010. As such, we are raising our expectations for annual revenue growth from our previously announced range of 21% to 25% to a higher range of 24% to 28%, while continuing to expect adjusted EBITDA margins at the same levels we experienced during 2009." This equates to upside guidance for FY10 revs of $158-163 mln vs. $156.04 mln Thomson Reuters consensus.
16:28
STNR Steiner Leisure beats by $0.04, beats on revs (46.89 -0.40)
Reports Q1 (Mar) earnings of $0.64 per share, $0.04 better than the Thomson Reuters consensus of $0.60; revenues rose 24.7% year/year to $146 mln vs the $123.7 mln consensus.
16:28
LOGM LogMeIn beats by $0.02, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY10 EPS in-line, revs in-line (20.02 -0.16)
Reports Q1 (Mar) earnings of $0.16 per share, $0.02 better than the Thomson Reuters consensus of $0.14; revenues rose 23.8% year/year to $21.3 mln vs the $21 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.16-0.17 vs. $0.15 Thomson Reuters consensus; sees Q2 revs of $22.4-22.7 vs. $22.11 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $0.64-0.68 vs. $0.65 Thomson Reuters consensus; sees FY10 revs of $91.0-92.5 vs. $91.39 mln Thomson Reuters consensus.
16:28
RYL Ryland Group beats by $0.03, misses on revs (24.47 +0.15)
Reports Q1 (Mar) loss of $0.33 per share, $0.03 better than the Thomson Reuters consensus of ($0.36); revenues fell 5.4% year/year to $250.8 mln vs the $269.8 mln consensus. In April 2010, the Company offered to purchase, in a tender offer and redemption, up to $300.0 million aggregate principal amount of its senior notes due 2012, 2013 and 2015. In addition, it issued $300.0 million of new 6.6 percent senior notes due May 2020. The purpose of these transactions was to lengthen the maturities of the Company's senior notes. Housing gross profit margins averaged 13.9 percent, excluding inventory and other valuation adjustments, for the quarter ended March 31, 2010, compared to 14.2 percent for the quarter ended December 31, 2009, and 6.0 percent for the quarter ended March 31, 2009. New orders decreased 13.4 percent to 1,167 units in the first quarter of 2010 from 1,347 units in the first quarter of 2009 as a result of having 28.9 percent fewer active communities. Net debt-to-capital ratio was 4.7 percent at March 31, 2010.
16:27
PRTS US Auto Parts beats by $0.02, beats on revs (8.69 +0.37)
Reports Q1 (Mar) earnings of $0.05 per share, $0.02 better than the Thomson Reuters consensus of $0.03; revenues rose 42.0% year/year to $56.3 mln vs the $51.5 mln consensus. Co said, "We are proud to report the highest quarterly sales in the Company's history and our third consecutive quarter of strong double digit growth" stated Shane Evangelist, Chief Executive Officer. "However, we are even more excited about the nearly 20% EBITDA flow through on the incremental $10.5 million sequential increase in sales from Q4 2009. We also increased our cash and securities by nearly $4.0 million while continuing to invest in our infrastructure and strategic growth initiatives.... Our AutoMD.com (www.AutoMD.com) initiative to become the destination site for the most complete and unbiased free online automotive repair information, made substantial progress during the quarter. Since its January launch, AutoMD.com's traffic has ramped to over 200,000 unique monthly visitors. Clearly, there is a demand for transparency in the auto repair industry and we believe that AutoMD is providing the tools and information to empower car owners with the best and most affordable ways to repair their vehicles. Looking forward, we expect to see a continuation of growth in the DIY market and expanding Internet penetration of that market. However, the seasonal demand surge for crash parts, more pronounced this year due to an abundance of bad weather, will diminish in the coming quarters. Longer-term, we believe maniacal focus on improving customer experience, driving prices down and increasing product selection will enable us to grow faster than the overall market and we hope to benefit from what we believe is a cost efficient model as we grow."
16:27
WCAA WCA Waste misses by $0.05, reports revs in-line; reaffirms FY10 revs in-line (4.97 +0.22)
Reports Q1 (Mar) loss of $0.08 per share, excluding non-recurring items, $0.05 worse than the Thomson Reuters consensus of ($0.03); revenues rose 8.5% year/year to $52.3 mln vs the $52.6 mln consensus. Co reaffirms in-line guidance for FY10, sees FY10 revs of $225 mln vs. $211.15 mln Thomson Reuters consensus. Co also reaffirms FY10 EBITDA of $55 mln.
16:25
SFN Spherion reports EPS in-line, beats on revs (9.03 +0.29)
Reports Q1 (Mar) loss of $0.03 per share, in-line with the Thomson Reuters consensus of ($0.03); revenues rose 8.7% year/year to $463 mln vs the $449.5 mln consensus. Revenues per day in the first three weeks of April, including Tatum, were about 22% higher than during the same prior year period. Professional Services and Staffing Services revenues per day, including Tatum, were up about 33% and 13%, respectively, compared with the same prior year period.
16:25
ICO International Coal beats by $0.02, beats on revs (5.27 +0.01)
Reports Q1 (Mar) earnings of $0.03 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.01; revenues fell 5.4% year/year to $288.6 mln vs the $262.6 mln consensus. For 2010, the Company expects to sell between 16.8 million and 17.2 million tons of coal, including ~2.6 million tons of metallurgical coal. The average selling price is projected to be $64.00 to $65.00 per ton, with an average cost of $51.00 to $52.00 per ton, excluding selling, general and administrative expenses. The Company expects coal production to be between 16.0 million and 16.4 tons. For 2011, the Company expects to sell between 16.5 million and 17.5 million tons of produced coal, including ~2.9 million tons of metallurgical coal. The average selling price is projected to be $70.00 to $75.00 per ton.
16:25
OPWV Openwave misses by $0.03, misses on revs (2.72 +0.05)
Reports Q3 (Mar) loss of $0.02 per share, ex-items, $0.03 worse than the Thomson Reuters consensus of $0.01; revenues fell 10.3% year/year to $40.1 mln vs the $46.4 mln consensus. Bookings for 3Q10 were $41.1 mln. The company ended the quarter with $123.6 mln in cash and investments.
16:23
ACE ACE Limited beats by $0.56 (53.65 +1.25)
Reports Q1 (Mar) earnings of $2.22 per share, $0.56 better than the Thomson Reuters consensus of $1.66. Book value per share now stands at $60.94, an increase of 4%. Annualized operating return on average equity for the quarter was 12.0%.(3) The property and casualty (P&C) combined ratio for the quarter was 92.8%. Net premiums written and earned increased 4% and 3%, respectively. Excluding the impact of foreign exchange, net premiums written increased 1% while net premiums earned decreased 1%. Net realized and unrealized gains after tax from investment portfolio totaled approximately $467 million.
16:23
EQR Equity Res beats by $0.01, beats on revs; guides Q2 FFO above consensus (43.92 +0.22)
Reports Q1 (Mar) funds from operations of $0.51 per share, excluding the negative impact of property acquisition costs previously budgeted to occur in the second quarter and unexpected storm related costs as a result of severe snow on the East Coast and heavy rains in California and Arizona, $0.01 better than the Thomson Reuters consensus of $0.50; revenues rose 1.7% year/year to $488.3 mln vs the $479.4 mln consensus. Co issues upside guidance for Q2, sees FFO of $0.53-0.57 vs. $0.52 Thomson Reuters consensus.
16:23
TLEO Taleo beats by $0.01, beats on revs (25.94 -0.64)
Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.15; revenues rose 14.3% year/year to $55 mln vs the $52.5 mln consensus.
16:23
HRS Harris beats by $0.04, misses on revs; raises FY10 EPS above consensus, reaffirms FY10 revs guidance; guides FY11 EPS/revs above consensus (49.79 +0.94)
Reports Q3 (Mar) earnings of $1.30 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $1.26; revenues rose 10.3% year/year to $1.33 bln vs the $1.38 bln consensus. Co issues mixed guidance for FY10, raises EPS to $4.35-4.45, up from previous range of $4.25 to $4.35, vs. $4.33 Thomson Reuters consensus; reaffirms FY10 revs of $5.2-5.3 bln vs. $5.24 bln Thomson Reuters consensus. Co issues upside guidance for FY11, sees EPS of $4.55-4.65 vs. $4.31 Thomson Reuters consensus; sees FY11 revs of $5.5-5.6 bln vs. $5.41 bln Thomson Reuters consensus. "Earnings in the third quarter increased 25 percent, reflecting continued excellent operating performance in RF Communications and Government Communications Systems .. Revenue increased 10 percent for the company, and higher orders across all of our segments should continue to drive double-digit revenue growth in the fourth quarter. Our strategy of investing in new technology and applications to solve our customers' complex, mission-critical, and quickly evolving communications and information technology needs is working. Higher orders, strong backlog and a robust opportunity pipeline should position Harris for achieving another year of higher revenue and earnings in fiscal 2011."
16:22
SIRI SIRIUS XM to retire $114 mln of debt (1.16 +0.02)
Co announced today that on June 1, 2010, XM Satellite Radio Inc. will redeem all of its outstanding 10% senior PIK secured notes due 2011, CUSIP Nos. 983759AE1 and 983759AH4, at a redemption price of 100% plus accrued interest. As of the redemption date, $113,685,000 of 10% senior PIK secured notes due 2011 will be outstanding.
16:21
O Realty Income reports EPS in-line, revs in-line; guides FY10 FFO in-line (33.17 +0.28)
Reports Q1 (Mar) funds from operations of $0.46 per share, in-line with the Thomson Reuters consensus of $0.46; revenues rose 1.0% year/year to $83.3 mln vs the $82.6 mln consensus. Co issues in-line guidance for FY10, sees FFO of $1.86-1.92 vs. $1.89 Thomson Reuters consensus. "We are also pleased that portfolio occupancy continues to remain high at 96.7%. Portfolio occupancy has been maintained at a very high level even though there have been significant challenges in the retail environment. Over the last two years we have dealt with a number of retailers that have experienced operational and financial challenges and our portfolio management team has continued to do a great job of handling the re-leasing of any vacant properties. While a few of our tenants continue to address these challenges, we have recently seen firming in the majority of our tenants' sales, and we would anticipate that occupancy should remain at or above the 96% level, absent any unforeseen events during the rest of the year."
16:21
HIW Highwoods Prop reports EPS in-line, beats on revs; reaffirmed FY10 FFO in-line (32.54 +0.09)
Reports Q1 (Mar) funds from operations of $0.61 per share, in-line with the Thomson Reuters consensus of $0.61; revenues rose 2.3% year/year to $115.8 mln vs the $113.7 mln consensus. Co reaffirmed in-line guidance for FY10, sees FFO of $2.31-2.49 vs. $2.40 Thomson Reuters consensus.
16:21
IFSIA Interface beats by $0.03, beats on revs (12.16 +0.19)
Reports Q1 (Mar) earnings of $0.08 per share, $0.03 better than the Thomson Reuters consensus of $0.05; revenues rose 9.0% year/year to $217.2 mln vs the $202.5 mln consensus.
16:20
ODSY Odyssey Healthcare beats by $0.08, misses on revs (19.04 -0.59)
Reports Q1 (Mar) earnings of $0.41 per share, $0.08 better than the Thomson Reuters consensus of $0.33; revenues rose 2.4% year/year to $171.5 mln vs the $173.8 mln consensus.
16:19
AXTI AXT Inc beats by $0.04, beats on revs (4.09 +0.38)
Reports Q1 (Mar) earnings of $0.08 per share, $0.04 better than the Thomson Reuters consensus of $0.04; revenues rose 141.6% year/year to $18.6 mln vs the $16.7 mln consensus. "This was another very good quarter for AXT," said Morris Young, chief executive officer. "We have continued to experience solid demand for our products across all of our primary markets, driven by significant and extended market trends, such as the rapid expansion of wireless devices and subscribers, the increasing momentum in the adoption of LED technology and the growing interest in solar energy. Further, our own execution has been strong throughout our engineering, manufacturing, sales and administrative functions. We have had tremendous success in continuing to develop our valuable, long-term customer relationships as well as penetrating new customers and new opportunities to drive our growth and diversify our base. In addition, our efforts to restructure and refocus our organization over the past nine months are resulting in tangible benefits in our efficiency, productivity and profitability â?? creating a solid foundation for our success in quarters to come."
16:19
CML Compellent Technologies beats by $0.02, reports revs in-line (12.99 +0.20)
Reports Q1 (Mar) earnings of $0.02 per share, ex-SBC, $0.02 better than the Thomson Reuters consensus of ($0.00); revenues rose 13.2% year/year to $31.8 mln vs the $31.8 mln consensus. Co states, "We continue to see strong demand from midsized and larger enterprises who appreciate the benefits of our unique storage solution. The introduction of our zNAS unified storage offering announced yesterday is one example of new products that we anticipate will expand our addressable market. We believe the efficiency of our business model and the strong relationships we enjoy with our channel partners are critical to our success. We have the financial resources to pursue our growth strategy."
16:19
FTNT Fortinet beats by $0.02, beats on revs (16.82 +0.39)
Reports Q1 (Mar) earnings of $0.08 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.06; revenues rose 28.8% year/year to $69.8 mln vs the $66.5 mln consensus. Product revenue was $27.1 million, an increase of 40% compared to the first quarter of 2009. Services revenue was $38.6 million, an increase of 22% compared to the first quarter of 2009. Ratable product and services revenue was $4.1 million, an increase of 23% compared to the first quarter of 2009. Deferred revenue was $211.5 million as of March 31, 2010, an increase of 19% compared to deferred revenue as of March 29, 2009, and up $9.6 million from December 31, 2009. Total billings were $79.4 million for the first quarter of 2010, an increase of 32% compared to the first quarter of 2009. We define billings as revenue recognized plus the change in deferred revenue from the beginning to the end of the period.
16:18
EGP EastGroup beats by $0.02, beats on revs; guides Q2 FFO in-line; guides FY10 FFO in-line (39.75 +0.17)
Reports Q1 (Mar) funds from operations of $0.73 per share, $0.02 better than the Thomson Reuters consensus of $0.71; revenues rose 2.8% year/year to $44.5 mln vs the $42.2 mln consensus. Co issues in-line guidance for Q2, sees FFO of $0.68-0.72 vs. $0.71 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees FFO of $2.77-2.93 vs. $2.84 Thomson Reuters consensus. "We are pleased to report that funds from operations for the first quarter exceeded the mid-point of our guidance. Although occupancy declined from December 31, it ended above our expectations as we executed a record number of leases with a record total of square feet during the quarter. We project occupancy to remain steady in the second quarter and then improve in both the third and fourth quarters."
16:18
LNC Lincoln National reports EPS in-line, misses on revs (30.90 +0.25)
Reports Q1 (Mar) earnings of $0.85 per share, in-line with the Thomson Reuters consensus of $0.85; revenues rose 18.5% year/year to $2.53 bln vs the $2.57 bln consensus. Consolidated deposits of $4.7 billion and positive net flows of $1.3 billion. Total account balances increased 27% year-over-year to $146 billion, driven by strong net flows and improved equity markets. Gross annuity deposits were $2.3 billion and net flows were $575 million, up 4% and 34%, respectively, versus the prior year. The company reported a net unrealized gain of $1.2 billion, pre tax, on its available for sale securities at March 31, 2010. This compares to a net unrealized loss of $6.8 billion at March 31, 2009, and a net unrealized loss of $43 million at December 31, 2009.
16:18
RA RailAmerica reports EPS in-line, beats on revs (13.30 +0.17)
Reports Q1 (Mar) earnings of $0.02 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.02; revenues rose 13.6% year/year to $112.7 mln vs the $105.6 mln consensus.
16:18
GAM General American Investors Reports Net Assets as of March 31, 2010 (25.79 +0.14)
Co reports Net Assets Applicable to Common Stock per common share of $28.97 vs $18.73 prior year. Co also reports Net Gain (Loss) on Investments per common share of $1.51 vs ($2.29) year ago.
16:17
AVB AvalonBay beats by $0.02, beats on revs; guides Q2 FFO in-line (98.99 +0.33)
Reports Q1 (Mar) funds from operations of $0.96 per share, $0.02 better than the Thomson Reuters consensus of $0.94; revenues fell 0.4% year/year to $218.8 mln vs the $209.8 mln consensus. Co issues in-line guidance for Q2, sees FFO of $0.93-0.97 vs. $0.95 Thomson Reuters consensus.
16:17
ADVS Advent Software misses by $0.01, reports revs in-line; guides Q2 revs in-line; guides FY10 revs in-line (45.06 -0.40)
Reports Q1 (Mar) earnings of $0.29 per share, $0.01 worse than the Thomson Reuters consensus of $0.30; revenues rose 0.6% year/year to $66.7 mln vs the $66.4 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $67-69 mln vs. $68.25 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees FY10 revs of $272-280 mln vs. $277.06 mln Thomson Reuters consensus.
16:16
CXW Corrections Corp provides Hernando County notice of termination of management contract for Hernando county jail (20.96 +0.53)
Co announced that it has provided notice of its intent to terminate the management contract for the 876-bed Hernando County Jail. As required under the agreement, CCA has provided Hernando County 120-day notice of termination and expects to turn over operations of the facility to the new operator on or about August 26, 2010.
16:16
SFLY Shutterfly beats by $0.06, beats on revs; guides Q2 EPS below consensus, revs in-line; guides FY10 EPS below consensus, revs in-line (24.58 +0.35)
Reports Q1 (Mar) loss of $0.18 per share, $0.06 better than the Thomson Reuters consensus of ($0.24); revenues rose 26.9% year/year to $45.7 mln vs the $41.3 mln consensus. Transacting customers totaled 1.1 million, a 21% increase over the first quarter of 2009. Orders totaled 1.7 million, a 14% increase over the first quarter of 2009. Average order value was $26.43, a 10% increase over the first quarter of 2009. Gross profit margin was 51% of net revenues, compared to 45% in the first quarter of 2009. Co issues mixed guidance for Q2, sees EPS of ($0.34)-($0.29) vs. ($0.23) Thomson Reuters consensus; sees Q2 revs of $43.5-$45.5 mln vs. $43.36 mln Thomson Reuters consensus. GAAP gross profit margins to range from 45% to 47% of net revenues. Co issues mixed guidance for FY10, sees EPS of $0.20-$0.29 vs. $0.30 Thomson Reuters consensus; sees FY10 revs of $275-$285 mln vs. $275.46 mln Thomson Reuters consensus. GAAP gross profit margins to range from 53% to 55% of net revenues.
16:16
V Visa beats by $0.05, beats on revs; raises annual net rev growth outlook for FY10; reaffirms EPS growth outlook through FY11 (93.61 +0.66)
Reports Q2 (Mar) earnings of $0.96 per share, $0.05 better than the Thomson Reuters consensus of $0.91; revenues rose 18.9% year/year to $1.96 bln vs the $1.93 bln consensus. Visa reaffirms 20%+ EPS growth through FY11. Co raises its FY10 net rev outlook to the high end of 11-15% from 11-15% previously, co sees its volume and support incentives as a percent of gross revenues at the high end of the 16% to 17% range. Visa reaffirms 20%+ EPS growth through FY11. Payments volume growth, on a constant dollar basis for the three months ended December 31, 2009 on which fiscal second quarter service revenue is recognized, was a positive 8% over the prior year at $769 billion. Payments volume growth, on a constant dollar basis, for the three months ended March 31, 2010, was a positive 13% over the prior year at $745 billion. Cross border volume growth, on a constant dollar basis, was positive 12% for the three months ended March 31, 2010. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended March 31, 2010 totaled 10.6 billion, a 14% increase over the prior year. "Our performance was fueled by higher than expected payments volume growth. As I discussed at our recent Investor Day, we are increasingly optimistic that economic growth will gradually improve. At the same time, we remain diligent about how we manage our business and finances throughout the current economic environment."
16:15
DIVX DivX beats by $0.05, beats on revs; guides Q2 EPS in-line, revs above consensus (7.87 -0.02)
Reports Q1 (Mar) earnings of $0.10 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.05; revenues rose 25.3% year/year to $23.3 mln vs the $20.6 mln consensus. Co issues mixed guidance for Q2, sees EPS of ($0.02)-$0.00 vs. ($0.01) Thomson Reuters consensus; sees Q2 revs of $17-18 mln vs. $16.89 mln Thomson Reuters consensus. "As we look toward the balance of the year, we will continue to invest as appropriate while being mindful of the ongoing fragile macro-economic recovery. Consistent with this investment approach, we anticipate an investment in DivX TV of approximately $1.5 million per quarter for the remainder of 2010. Our current balance sheet is strong with $139.2 million of cash and investments, or $4.23 per share."
16:15
TQNT TriQuint Semi beats by $0.01, beats on revs; guides Q2 EPS above consensus, revs above consensus (7.95 +0.03)
Reports Q1 (Mar) earnings of $0.12 per share, $0.01 better than the Thomson Reuters consensus of $0.11; revenues rose 52.1% year/year to $180.8 mln vs the $175 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.15 vs. $0.13 Thomson Reuters consensus; sees Q2 revs of $200-$210 mln vs. $188.99 mln Thomson Reuters consensus. The company expects continued solid demand in our networks market and strong factory utilization will lead to a non GAAP gross margin of about 40%. Non GAAP operating expenses are expected to grow to between $57-$58 mln. As of today, the company is 92% booked to the midpoint of our revenue guidance.
16:15
CLUB Town Sports Intl misses by $0.02, reports revs in-line; guides Q2 revs in-line (4.02 -0.12)
Reports Q1 (Mar) loss of $0.03 per share, $0.02 worse than the Thomson Reuters consensus of ($0.01); revenues fell 7.0% year/year to $117.8 mln vs the $118.6 mln consensus. Co issues guidance for Q2, sees EPS of ($0.05)-($0.02), excluding $0.03 charge, vs. $0.01 Thomson Reuters consensus; sees Q2 revs of $116.5-117.5 mln vs. $118.88 mln Thomson Reuters consensus. "For the year ending December 31, 2010, we currently plan to invest $32.0 million to $35.0 million in capital expenditures. This is down from $49.3 million of capital expenditure investing activity in 2009. We expect that this 2010 amount will include $23.5 million to continue to upgrade existing clubs and $7.0 million principally related to major renovations at clubs with recent lease renewals and upgrading our in club entertainment system network. We also expect to invest $1.5 million to $2.5 million to enhance our management information systems."
16:14
HMN Horace Mann beats by $0.13, beats on revs (16.18 +0.70)
Reports Q1 (Mar) earnings of $0.55 per share, $0.13 better than the Thomson Reuters consensus of $0.42; revenues rose 7.3% year/year to $238.7 mln vs the $233.2 mln consensus.
16:13
SKH Skilled Healthcare board authorizes acquisition of hospice and home health assets in four states; estimates annual earnings accretion of approximately $0.11 per diluted share (6.99 -0.33)
Co announced that its Board of Directors has authorized the acquisition of substantially all the assets of five Medicare-certified hospice companies and three Medicare-certified home health companies. In addition, the Company will enter into a fee-based management agreement for another home health company and be granted an option to acquire substantially all of the assets of such other company. The hospice and home health companies collectively have operations in Idaho, Montana, Nevada and Arizona. For the last twelve months ended March 31, 2010, consolidated revenue from those nine businesses was approximately $47 million. The Company expects the acquisition to be accretive to its earnings in 2010. Once the acquired assets are fully integrated, the Company estimates annual earnings accretion of approximately $0.11 per diluted share.
16:13
IRBT IRobot beats by $0.20, beats on revs; guides Q2 EPS & revs above consensus; guides FY10 EPS & revs above consensus (15.22 -0.21)
Reports Q1 (Mar) earnings of $0.24 per share, $0.20 better than the Thomson Reuters consensus of $0.04; revenues rose 66.7% year/year to $95 mln vs the $83.8 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.06-0.08 vs. ($0.04) Thomson Reuters consensus; sees Q2 revs of $90-95 mln vs. $75.96 mln Thomson Reuters consensus. Co issues upside guidance for FY10, sees EPS of $0.35-0.40 vs. $0.23 Thomson Reuters consensus; sees FY10 revs of $375-385 mln vs. $353.49 mln Thomson Reuters consensus. "As a result of outstanding performance by both divisions in the first quarter and good visibility on the rest of 2010, we are increasing our full-year financial expectations."
16:12
MBLX Metabolix misses by $0.05, misses on revs (13.42 +0.45)
Reports Q1 (Mar) loss of $0.37 per share, $0.05 worse than the Thomson Reuters consensus of ($0.32); revenues fell 30.8% year/year to $0.2 mln vs the $0.8 mln consensus. The Company also commented on the status of its ongoing Food Contact Notification with the Food and Drug Administration. The Company noted that it anticipates Food Contact approval for injection molding products in the second quarter and currently expects to bring thermoforming and film products to food contact markets in the second half of this year. While it cannot be certain, the Company expects to be selling product for food contact applications during the second half of the current fiscal year and is already working with select food contact customers in product prototyping and taste and sensory testing.
16:12
FSLR First Solar beats by $0.37, beats on revs; guides FY10 EPS above consensus, revs below consensus (128.13 -0.23)
Reports Q1 (Mar) earnings of $2.00 per share, $0.37 better than the Thomson Reuters consensus of $1.63; revenues rose 35.8% year/year to $568 mln vs the $540.6 mln consensus. Co issues mixed guidance for FY10, sees EPS of $6.80-7.30 vs. $6.15 Thomson Reuters consensus; sees FY10 revs of $2.6-2.7 bln vs. $2.74 bln Thomson Reuters consensus. Total capital spending is projected to be $625 to $650 million. The company expects to generate $725 to $775 million of operating cash flow.
16:12
NSR Neustar misses by $0.03, reports revs in-line; reaffirms FY10 revs guidance (25.43 -0.40)
Reports Q1 (Mar) earnings of $0.33 per share, $0.03 worse than the Thomson Reuters consensus of $0.36; revenues rose 13.9% year/year to $128.9 mln vs the $128.8 mln consensus. Co reaffirms guidance for FY10, sees FY10 revs of $520-$535 mln vs. $528.23 mln Thomson Reuters consensus. Co also reaffirms expectations for EBITDA margins to exceed 42%.
16:11
WEYS Weyco Group, announced that it has acquired the Umi brand, a children's footwear line, from Umi, LLC. (25.00 +0.36)
16:11
ALL Allstate misses by $0.10, reports revs in-line (33.72 +0.45)
Reports Q1 (Mar) earnings of $0.69 per share, excluding non-recurring items, $0.10 worse than the Thomson Reuters consensus of $0.79; revenues fell 0.2% year/year to $6.26 bln vs the $6.22 bln consensus. Co said, "Allstate generated operating income of $375 million and net income of $120 million for the quarter. The underlying combined ratio was in line with our full year outlook and our risk mitigation and return optimization strategies resulted in strong investment results. The net result is that book value per share is 42% higher than a year ago and up 5% over year end."
16:11
OKE ONEOK beats by $0.21 (48.86 +0.76)
Reports Q1 (Mar) earnings of $1.44 per share, $0.21 better than the Thomson Reuters consensus of $1.23. ONEOK reaffirmed its 2010 net income guidance in the range of $300 million to $335 million. Operating income and capital expenditures guidance for 2010 is unchanged for all operating segments.
16:11
COLB Columbia Banking announces commencement of $150 mln public offering of common stock (21.70 -0.54)
16:10
TSRA Tessera Tech beats by $0.07, beats on revs; guides Q2 revs above consensus (21.73 +0.38)
Reports Q1 (Mar) earnings of $0.20 per share, $0.07 better than the Thomson Reuters consensus of $0.13; revenues fell 43.9% year/year to $64.3 mln vs the $61.5 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $67-$70 mln vs. $64.94 mln Thomson Reuters consensus. Second quarter 2010 Micro-electronics revenue is expected to range between $58.5-$60.5 mln, all of which will be royalty and license related. Second quarter 2010 Imaging & Optics revenue, in total, is expected to range between $8.5-$9.5 mln. I Non-GAAP operating expenses for 2Q10 are projected to range between $32-$33 mln, excluding litigation expenses.
16:10
LSI LSI Logic beats by $0.05, beats on revs; guides Q2 EPS in-line, revs in-line (6.39 +0.13)
Reports Q1 (Mar) earnings of $0.14 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.09; revenues fell 0.1% year/year to $637.2 mln vs the $629.8 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.08-0.14, excluding non-recurring items, vs. $0.10 Thomson Reuters consensus; sees Q2 revs of $635-665 mln vs. $642.83 mln Thomson Reuters consensus.
16:10
CVTI Covenant Transport beats by $0.09, beats on revs (6.91 +0.19)
Reports Q1 (Mar) loss of $0.15 per share, $0.09 better than the Thomson Reuters consensus of ($0.24); revenues rose 13.6% year/year to $152 mln vs the $149.5 mln consensus. Co said, "Our annual tractor fleet plan for 2010 has not changed and we still expect to purchase approximately 900 tractors and dispose of approximately 900 tractors, for anticipated full-year net capital expenditures of approximately $60 million to $70 million."
16:10
NEWP Newport beats by $0.02, beats on revs (13.92 +0.33)
Reports Q1 (Mar) earnings of $0.14 per share, $0.02 better than the Thomson Reuters consensus of $0.12; revenues rose 19.8% year/year to $107.2 mln vs the $101.2 mln consensus. They expect sales in the second quarter of 2010 to be similar to the strong first quarter level (consensus is $102.9 mln). In addition, they expect their earnings per diluted share in the second quarter of 2010 to be approximately equal to the first quarter level, and then increase sequentially in the third and fourth quarters of 2010.
16:10
POWI Power Integrations misses by $0.02, misses on revs; guides Q2 revs above consensus (42.75 +0.52)
Reports Q1 (Mar) earnings of $0.49 per share, $0.02 worse than the Thomson Reuters consensus of $0.51; revenues rose 77.4% year/year to $71.5 mln vs the $72.5 mln consensus. Gross margin for the first quarter was 50.2 percent; operating margin was 20.8 percent. Co issues upside guidance for Q2, sees Q2 revs of $74-78 mln vs. $72.44 mln Thomson Reuters consensus. GAAP gross margin is expected to be between 50 percent and 51 percent, including an impact of approximately half a percentage point from stock-based compensation. "We achieved record revenues for the third straight quarter, surpassing $70 million in quarterly revenues for the first time ever, and we expanded our non-GAAP operating margin for the fifth straight quarter. Bookings increased dramatically during the quarter and have remained strong in April. While the strength in orders and resulting expansion of our backlog is partly attributable to extended lead times, we believe our revenue growth is being driven mainly by end-market demand as well as greater penetration of our products into the power-supply market."
16:09
GMCR Green Mtn Coffee reports EPS in-line, revs in-line; guides Q3 EPS in-line, revs above consensus; guides FY10 EPS above consensus, revs in-line; announces 3 for 1 stock split (86.91 +1.99)
Reports Q2 (Mar) earnings of $0.60 per share, in-line with the Thomson Reuters consensus of $0.60; revenues rose 68.0% year/year to $324.9 mln vs the $322.4 mln consensus.. Co issues mixed guidance for Q3, sees EPS of 0.50-0.54 vs. $0.57 Thomson Reuters consensus; sees Q3 revs up 58-63% y/y tp ~$304-314 mln vs. $300.65 mln Thomson Reuters consensus. Co issues mixed guidance for FY10, sees EPS of 2.04-2.14 vs. $2.04 Thomson Reuters consensus; raises FY10 revenue guidance to 62-65% from 57-62%, (~$1.30-1.32 bln) vs. $1.31 bln Thomson Reuters consensus.
16:09
CDNS Cadence Design beats by $0.01, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (7.15 -0.01)
Reports Q1 (Mar) earnings of $0.02 per share, $0.01 better than the Thomson Reuters consensus of $0.01; revenues rose 7.8% year/year to $222 mln vs the $214.9 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.02-0.04 vs. $0.03 Thomson Reuters consensus; sees Q2 revs of $215-225 mln vs. $218.58 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $0.05-0.15 vs. $0.14 Thomson Reuters consensus; sees FY10 revs of $865-900 mln vs. $888.37 mln Thomson Reuters consensus. "Cadence is off to a good start in 2010. The team executed across the board and our focus on customer engagement continues to yield success," said Lip-Bu Tan, president and chief executive officer. "Business improved in all geographies with strength in Asia and North America, and in all platform areas, especially verification, custom and digital design."
16:09
V Visa trades lower in after hours following earnings report; last trade $92.34 (93.61 +0.66) -Update-
16:08
OFIX Orthofix beats by $0.18, reports revs in-line; guides FY10 EPS above consensus (33.48 -0.52)
Reports Q1 (Mar) earnings of $0.99 per share, $0.18 better than the Thomson Reuters consensus of $0.81; revenues rose 7.6% year/year to $138.8 mln vs the $137.7 mln consensus. Co issues upside guidance for FY10, sees EPS of $2.38-2.42 vs. $2.27 Thomson Reuters consensus.
16:07
WLL Whiting Petroleum beats by $0.05, beats on revs (84.16 +1.00)
Reports Q1 (Mar) earnings of $1.15 per share, $0.05 better than the Thomson Reuters consensus of $1.10; revenues rose 114.5% year/year to $351.3 mln vs the $319.7 mln consensus. Co says "We expect to fund our capital expenditures through discretionary cash flow during the remainder of 2010. We have a 210-well drilling program planned for 2010, which includes at least 13 gross wells at our Lewis & Clark prospect area. One of our primary objectives in 2010 is to establish another resource play. We believe our Lewis & Clark prospect area, where we have amassed a 211,000 net acre position, has the potential to be such a play. By focusing on our Bakken drilling program, our two EOR projects and adding a new resource play, we expect our organic growth to continue in 2010 and beyond." Co sees Q2 Production (MMBOE) of 5.60 - 5.80 and for 2010, 22.60 - 22.90.
16:06
EPIC Epicor Software reports EPS in-line, revs in-line; guides Q2 EPS in-line, revs in-line (10.60 -0.15)
Reports Q1 (Mar) earnings of $0.10 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.10; revenues rose 0.6% year/year to $99.3 mln vs the $99.6 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.12-0.14 vs. $0.13 Thomson Reuters consensus; sees Q2 revs of $104-106 mln vs. $105.52 mln Thomson Reuters consensus.
16:06
ESRX Express Scripts reports EPS in-line, beats on revs; guides FY10 EPS in-line (101.68 -0.62)
Reports Q1 (Mar) earnings of $1.10 per share, in-line with the Thomson Reuters consensus of $1.10; revenues rose 105.5% year/year to $11.14 bln vs the $10.92 bln consensus. Co issues in-line guidance for FY10, sees EPS of 4.88-5.00 vs. $4.96 Thomson Reuters consensus. Q1 Gross margin of 6.0% vs. 7.2% Thomson Reuters Consensus. Express Scripts continues to expect the acquisition of NextRx to generate more than $1 billion of incremental EBITDA once fully integrated.
16:06
ITRI Itron beats by $0.13, beats on revs (75.97 +0.46)
Reports Q1 (Mar) earnings of $0.75 per share, excluding $0.26/share in discrete tax benefits, $0.13 better than the Thomson Reuters consensus of $0.62; revenues rose 28.3% year/year to $499 mln vs the $457.2 mln consensus. Co states, "Global interest in advanced metering applications, not only for electric but also for gas and water utilities, continues to be high. Itron is well positioned to take advantage of the momentum worldwide due to our global footprint and leading market positions."
16:06
BEC Beckman Coulter beats by $0.01, reports revs in-line; guides FY10 EPS in-line (58.44 +0.55)
Reports Q1 (Mar) earnings of $0.86 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.85; revenues rose 27.4% year/year to $881.1 mln vs the $876.1 mln consensus. Co issues in-line guidance for FY10, sees EPS of $4.30-4.50, excluding non-recurring items, vs. $4.39 Thomson Reuters consensus. Co said, " We are determined to resolve our product compliance and quality matters as quickly as possible and are committed to delivering on our long-term goals of recurring revenue growth of 7 to 9 percent and net earnings growth of 9-12%.
16:06
PALM Palm: HPQ to Acquire Palm for $1.2 billion; price is $5.70 per share of Palm common stock in cash (4.63 -0.02)
PALM is halted.
16:06
AKAM Akamai Tech beats by $0.04, beats on revs (33.18 -0.52)
Reports Q1 (Mar) earnings of $0.35 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.31; revenues rose 14.1% year/year to $240.0 mln vs the $230.2 mln consensus.
16:05
PALM Palm: HPQ to acquire Palm for $1.2 bln or $5.70 per share in cash (4.63 -0.02)
HPQ announced that they have entered into a definitive agreement under which HPQ will purchase Palm (PALM) at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 bln. The transaction has been approved by HPQ and Palm boards of directors. "The combination of HP's global scale and financial strength with Palm's unparalleled webOS platform will enhance HP's ability to participate more aggressively in the fast-growing, highly profitable smartphone and connected mobile device markets. Palm's unique webOS will allow HP to take advantage of features such as true multitasking and always up-to-date information sharing across applications... Palm's innovative operating system provides an ideal platform to expand HP's mobility strategy and create a unique HP experience spanning multiple mobile connected devices."
16:05
VAR Varian Medical beats by $0.05, beats on revs; guides Q3 EPS below consensus; guides FY10 EPS in-line, revs in-line (55.82 +1.10)
Reports Q2 (Mar) earnings of $0.73 per share, $0.05 better than the Thomson Reuters consensus of $0.68; revenues rose 5.9% year/year to $586 mln vs the $579.4 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.60-$0.63 vs. $0.69 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $2.82-$2.88 vs. $2.84 Thomson Reuters consensus; sees FY10 revs growing by about 6-7% over FY09, which calculates to roughly $2.35-$2.4 bln vs. $2.35 bln Thomson Reuters consensus.
16:04
OI Owens-Illinois beats by $0.03, misses on revs (36.21 +0.60)
Reports Q1 (Mar) earnings of $0.50 per share, $0.03 better than the Thomson Reuters consensus of $0.47; revenues rose 4.1% year/year to $1.58 bln vs the $1.65 bln consensus. "Higher overall prices, compared to the prior year, are expected to offset modest cost inflation mostly due to Venezuela. We anticipate improved shipments over last year, primarily driven by the faster-growing emerging markets and easier year-over-year volume comparisons. Costs associated with temporary production curtailments should be consistent with the prior year as market conditions improve, and we complete our current North American restructuring program. Higher corporate costs, interest expense and unfavorable Venezuelan currency translation will continue, while earnings will further benefit from our strategic footprint initiative. Overall, we are positioned to deliver profitable growth as markets continue to recover, and we execute on our long-term strategic plan."
16:04
CTHR Charles & Colvard signs new manufacturing agreement with Frederick Goldman (2.33 +0.67)
Co announced that it has signed a new manufacturing and distribution agreement with Frederick Goldman, Inc. (Goldman), America's pre-eminent wedding ring leader and one of the largest bridal and fine jewelry manufacturing companies in North America. Under the terms of the agreement, Goldman has the exclusive right to distribute and sell finished jewelry featuring Charles & Colvard Created Moissanite to certain national retail customers.
16:03
GMCR Green Mtn Coffee announces 3-for-1 stock split -Update-
16:03
FTI FMC Tech beats by $0.16, reports revs in-line; guides FY10 EPS above consensus (67.42 +0.42)
Reports Q1 (Mar) earnings of $0.80 per share, $0.16 better than the Thomson Reuters consensus of $0.64; revenues fell 0.3% year/year to $1.05 bln vs the $1.06 bln consensus. Co issues upside guidance for FY10, sees EPS of $2.70-2.90 compared to the prior guidance range of $2.45 to $2.65 vs. $2.62 Thomson Reuters consensus.
16:03
MANT ManTech misses by $0.05, misses on revs; guides FY10 EPS in-line, revs in-line (49.37 -0.89)
Reports Q1 (Mar) earnings of $0.76 per share, $0.05 worse than the Thomson Reuters consensus of $0.81; revenues rose 30.8% year/year to $588 mln vs the $607.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $3.36-3.61 vs. $3.57 Thomson Reuters consensus; sees FY10 revs of $2.63-2.85 bln vs. $2.73 bln Thomson Reuters consensus. "Our performance in the first quarter and our backlog and pipeline support our guidance range. We had some delays in material purchases in our in-theater vehicle maintenance business and some fee erosion, but we generally expect to recover over the year based on our positioning in areas of priority funding and our success in capturing new business. We also believe that future acquisitions will produce profits that will ultimately exceed the expenses associated with the debt offering."
16:02
ETFC E*TRADE Financial announces secondary ofering of 170 mln shares of common stock (1.84 +0.01)
Co announced that Citadel Equity Fund Ltd. and Wingate Capital Ltd., affiliates of Citadel Investment Group, intend to offer, subject to market and other conditions, 170 mln shares of its common stock pursuant to a shelf registration statement filed with the Securities and Exchange Commission. The selling stockholders also intend to grant the underwriters an option to purchase up to an additional 25.5 mln shares of common stock to cover over-allotments, if any. E*TRADE will not receive any proceeds from the proposed offering.
16:02
SRDX SurModics misses by $0.07, misses on revs (20.86 -0.07)
Reports Q2 (Mar) earnings of $0.10 per share, excluding non-recurring items, $0.07 worse than the Thomson Reuters consensus of $0.17; revenues fell 12.0% year/year to $18.4 mln vs the $19.1 mln consensus.
16:02
TRN Trinity Industries reports EPS in-line, beats on revs; guides Q2 EPS above consensus; guides FY10 EPS above consensus (25.51 +0.13)
Reports Q1 (Mar) earnings of $0.02 per share, in-line with the Thomson Reuters consensus of $0.02; revenues fell 42.8% year/year to $454 mln vs the $444.7 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.15-0.20 vs. $0.11 Thomson Reuters consensus. Co issues upside guidance for FY10, sees EPS of $0.45-0.65 vs. $0.42 Thomson Reuters consensus. "We were pleased during the first quarter to complete the acquisition of Quixote Corporation and the integration is going very smoothly. We maintained strong liquidity during the first quarter, with $522.8 million in unrestricted cash and short-term marketable securities which contributed to a total liquidity of $1.2 billion at March 31, 2010."
16:02
WIRE Encore Wire beats by $0.05, beats on revs (21.88 -0.02)
Reports Q1 (Mar) earnings of $0.11 per share, $0.05 better than the Thomson Reuters consensus of $0.06; revenues rose 21.2% year/year to $175.2 mln vs the $169.6 mln consensus. "We produced these results in this difficult environment due to our low cost business model and aggressive cost cutting in all facets of our operation. We believe our superior order fill rates continue to enhance our competitive position, as our electrical distributor customers are holding lean inventories in the field."
16:01
SKX Skechers USA beats by $0.12, beats on revs (40.30 -0.39)
Reports Q1 (Mar) earnings of $1.15 per share, $0.12 better than the Thomson Reuters consensus of $1.03; revenues rose 43.5% year/year to $492.8 mln vs the $459.3 mln consensus.
16:01
APSG Applied Signal Technology, Inc. acquires Seismic LLC (19.38 +0.01)
Co announced that it has completed the acquisition of Seismic LLC, a privately-held company that specializes in cyber security solutions, software engineering, data management, and systems engineering and integration services for the U.S. Department of Defense and Intelligence Community. Applied Signal Technology has agreed to acquire Seismic LLC for $25 mlnin cash, funded from current investments, with an additional earn-out and performance bonus potential of approximately $5 mln.
15:45
GDX Late day global & sector ETF movers-- Gold Miners lead & Solar Power lags heading towards the closing bell -Technical-
The Actively Traded Leading Global & Sector ETFs:
gold miners- GDX +3.25%, iShares Australia- EWA +1.75%, crude/WTI oil- USO +1.50%, OIL +1.50%, base metals- DBB +1.50%, iShares Chile- ECH +1.50%, homebuilders & home construction- ITB +1.50%, XHB +1.50%, SPDRS oil & gas exploration & services- XES +1.50%, iShares S Korea- EWY +1.25%, iShares Brazil- EWZ +1.25%
The Actively Traded Lagging Global & Sector ETFs:
solar power- TAN -1.25%, Yen currency shares- FXY -1.0%, VIX vol index- VXX -1.0%, SPDRS retailers- XRT -1.0%, US bonds- TLT -0.75%, silver- SLV -0.50%, global timber- CUT -0.75%, platinum- PGM -0.50%, PTM -0.50%, iShares Japan- EWJ -0.50%, iShares Germany- EWG -0.50%, SPDRS cons disct- XLY -0.25%
15:43
Earnings Calender
Today after the close, of the many companies scheduled to report, some of the bigger names include: BIDU, ALL, ESRX, FSLR, GMCR, IRBT, RYL, RNOW, SFLY, SKX, VRSN, and V. Tomorrow before the open, of the many companies scheduled to report, some of the bigger names include: AKNS, MT, BDX, BMY, BKC, CELG, CME, CL, COP, XOM, MOT, OMX, OXY, ZEUS, POT, PG, HOT, TWC, VIA.B, and WM.
15:42
Conferences and Shareholder/Analyst Meetings of Interest
Events of interest for tomorrow, April 29, include: HAR Analyst Meeting; SHAW Analyst Meeting; SKS, RAD, BBY at Barclays Capital Retail and Restaurant Conference. Fed/Treasury: $32 bln 7-yr Treasury Notes Auction; Geithner Testifies on FY11 Budget.
15:01
SPY S&P 500 +10 range trading near bounce highs -Update- -Technical-
See 5 min chart for levels of interest.
14:57
LIFE NASDAQ 100 (NDX) strength & weakness moving into the final hour-- Biotechnology still leads in late day trading -Technical-
NDX 10 Best % Performers:
LIFE, SYMC, ILMN, CELG, MYL, QCOM, BRCM, SRCL, WCRX, NTAP
NDX 10 Worst % Performers:
ATVI, TEVA, URBN, DISH, AMZN, MICC, ROST, VOD, CHKP, SBUX
NASDAQ TRIN @ +0.90
NASDAQ A/D @ +285
14:54
JPM Dow 30 (INDU) strength & weakness moving into the final hour-- Financials & Energy lead in late day trading -Technical-
INDU 5 Best % Performers:
JPM, XOM, VZ, BAC, GE
INDU 5 Worst % Performers:
MCD, INTC, WMT, DIS, HD
NYSE TRIN @ +0.55
NYSE A/D @ +620
14:40
COMDX NYMEX Energy Closing Prices
June crude oil settled higher by 78 cents to $83.32, June natural gas closed up 3.4 cents to $4.349, May RBOB gasoline ended up 0.2 cents to $2.3288 and May heating oil finished lower by 0.33 cents to $2.227.
14:36
COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices -Update
July corn closed higher by 10.25 cents to $3.64 per bushel, July soybeans closed higher by 1.5 cent at $9.945 per bushel, July wheat closed 3.0 cents lower at $4.875 per bushel, May ethanol closed higher by $0.015 cents at $1.61, July world sugar futures closed 0.51 cents lower to 14.86 cents.
14:34
BAC Bank of America elects Charles Holliday as Chairman (17.73 +0.26)
14:24
SPY Limited upside extension for stock indices with the Dow +70 and S&P +9.4 setting new session highs -- Nasdaq +5.6 -Update- -Technical-
Sectors showing some relative strength on the move include Energy/Commodity (XLE, OIH, GDX, SLX, KOL, MOO) along with Solar TAN, REITs IYR.
14:23
COMDX Crude oil trades to its best levels of the sessoin, at $83.32, with about 8 min left in pit trade; now up 89 cents to $83.33
14:22
USO U.S. Oil Fund ETF breaks to fresh daily highs on a pick up in volume as it lifts up into the 40.00 area (39.96 +0.62) -Update- -Technical-
14:16
SPY Minor new afternoon highs initially after the FOMC statement -- Dow +58, S&P +7.5, Nasdaq +0.1 -Update- -Technical-
14:02
ECONX Reminder: FOMC Rate Decision due out in about 13 min at 14:15ET
13:37
SIFI SI Financial will resume paying a $0.03 cash dividend outstanding shares of common stock for the quarter ended March 31, 2010 (6.60 +0.02) -Update-
13:32
COMDX COMEX Metals Closing Prices
June gold closed up $11 to $1173.20, May silver lost 14.4 cents to end at $17.975 and May copper finished higher by 0.5 cents to $3.3685.
13:17
AROW Arrow Financial announces $5 million stock repurchase program (27.66 +0.34)
13:01
SUSQ Susquehanna Bank reports Q1 EPS of $0.04 vs $0.00 Thomson Reuters consensus (11.12 +0.09)
Net charge-offs as a percentage of average loans and leases decreased 50 basis points to 1.56% compared to the fourth quarter of 2009 and, consequently, the provision for loan and lease losses declined $10.0 million as well. Nonaccrual loans and leases and other real estate owned as a percentage of loans, leases and other real estate owned increased 21 basis points to 2.69% at March 31, 2010. Tangible common equity to tangible assets ratio increased to 7.78% from 5.32% at December 31, 2009. "Comparing first-quarter 2010 results with fourth-quarter 2009, core deposits were up 5%, which helped to boost our net interest margin by another three basis points, to 3.80%. In addition, we are starting to see signs of stabilization in credit quality, with reductions in both our net charge-offs and provision for loan losses in the first quarter. During March, we completed a successful capital offering that received strong interest from investors, and we repaid the majority of the funding we received under the government's Capital Purchase Program in April. These steps, coupled with our ongoing focus on core banking operations and improving credit quality, reinforce our position as a strong competitor as the economy begins to recover."
13:01
MBRG Middleburg Financial promotes Gary R. Shook to CEO (17.47 +0.62)
12:50
EWP iShares Spain drops to new 11 month low after debt downgrade (38.12 -0.97) -Update- -Technical-
Today's debt downgrade has led to a extension of the April leg lower with the July 2009 reaction low at 37.66 tested (session low 37.63) -- Click for chart. The EWP trades an averages of 287 K per day, today's volume is 725 K.
12:45
GDX Midday global & sector ETF movers-- Gold Miners lead & Solar Power lags here @ midday -Technical-
The Actively Traded Leading Global & Sector ETFs:
gold miners- GDX +3.25%, iShares Australia- EWA +1.50%, homebuilders & home construction- XHB +1.50%, ITB +1.25%, regional banks- RKH +1.50%, KRE +1.0%, financials- XLF +1.25%, IYF +1.0%, commercial banks- KBE +1.25%, base metals- DBB +1.0%, iShares S Korea- EWY +1.0%, crude/WTI oil- USO +1.0%, OIL +1.0%
The Actively Traded Lagging Global & Sector ETFs:
solar power- TAN -1.50%, iShares Germany- EWG -1.50%, heating oil- UHN -1.25%, iShares France- EWQ -1.0%, Yen currency shares- FXY -1.0%, platinum- PTM -0.75%, PGM -0.50%, global timber- CUT -0.75%
12:30
LIFE Midday NASDAQ 100 (NDX) strength & weakness -- Biotechnology & Semis lead @ midday -Technical-
NDX 10 Best % Performers:
LIFE, BRCM, ILMN, CMCSA, PDCO, WCRX, VMED, SRCL, HSIC, ISRG
NDX 10 Worst % Performers:
ATVI, FLEX, MICC, DISH, LINTA, FWLT, TEVA, URBN, STX, VOD
NASDAQ TRIN @ +1.45
12:27
JPM Midday Dow 30 (INDU) strength & weakness -- Financials still lead @ midday -Technical-
INDU 5 Best % Performers:
JPM, GE, BAC, XOM, PG
INDU 5 Worst % Performers:
INTC, MCD, BA, WMT, HD
NYSE TRIN @ +0.60
12:00
PSDV pSivida receives $15 million payment from Alimera Sciences (4.89 +0.19)
Co received full payment of a $15 million note, including an additional $225,000 in accrued interest, from Alimera Sciences, pSivida's licensee developing Iluvien for the treatment of diabetic macular edema. Alimera has stated that it intends to file the NDA for Iluvien this quarter and to seek priority review, which, if granted, is expected to result in a response from the FDA in the 2010 fourth quarter. If the FDA approves Iluvien for the treatment of DME, pSivida is due to receive a $25 million milestone payment from Alimera. pSivida would also be entitled to receive 20% of the net profits of sales of Iluvien.
11:55
European Markets Closing Prices: FTSE: 5586.6 -16.9 -0.3%, DAX: 6084.3 -75.2 -1.2%, CAC: 3803.5 -41.1 -1.1%, Spain's IBEX: -3.0%, Portugal's PSI: -1.2%
11:48
ABT Abbott receives FDA approval for once-daily dosing of Kaletra for treatment-experienced patients (49.82 +0.04)
Co announced that the FDA approved once-daily dosing of Kaletra for adult patients with HIV who have previously taken antiretroviral therapy. Kaletra once-daily dosing is already indicated for adult patients new to antiretroviral treatment. This gives treatment-experienced patients who have HIV that responds to Kaletra another dosing option as determined by their physician.
11:39
APD Air Products hydrogen fueling technology selected for warehouse environmental makeover at UNFI distribution center in Florida (77.29 -0.13)
Co announced that its hydrogen fueling technology for the material handling market is being installed at the Sarasota, Florida distribution center of United Natural Foods, Inc. (UNFI). Air Products' technology will fuel 65 fuel cell powered lift trucks that will be mobilized at the distribution facility moving consumer goods on a daily basis. The equipment for the 352,000 square-foot Sarasota facility, which serves as a regional distribution hub for customers in Southeastern United States, is targeted to be operational by the end of June 2010.
11:38
SPY Some follow through on Spain related slide with Dow -25 and S&P -1.5 joining Nasdaq -14 at new session lows -Update- -Technical-
11:29
SPY Stock indices drop after downgrade of Spain -- Dow +18, S&P +4.3, Nasdaq -4.2 -Update- -Technical-
11:26
TM Toyota Motor confirms voluntary recall on 2003 model-year Sequoia to upgrade program logic in vehicle stability control system (76.98 -0.01)
Toyota Motor Sales U.S.A. confirms it will conduct a voluntary safety recall on ~50,000 early-2003 Model-Year Toyota Sequoia sport utility vehicles to upgrade program logic in its Vehicle Stability Control (VSC) system. There have been no reported injuries or accidents as a result of this condition.
11:15
GWW WW Grainger raises quarterly cash to $0.54 per share, up from $0.46 per share (108.61 +0.46)
11:10
XLF Banking ETFs vacillating near morning highs -- RKH, KBE, KRE -Update- -Technical-
The XLF +1.8% and other sub-sectors (Insurance KIE +1.3%, Broker IAI +0.9%) are lagging slightly behind
10:58
JPM JP Morgan Chase edging back toward early session high of 43.40 after yesterday's hold near its 200-day sma (43.33 +0.92) -Update- -Technical-
10:56
C Citigroup edging back near early high of 4.52 after yesterday's late test/hold at its 200-day ema (4.50 +0.16) -Technical-
10:54
COMDX Gold trades to its best levels of the morning at $1171.00; now higher by $8.40 to $1170.60
10:51
WMT Wal-Mart holds on initial retest of yesterday's low at 53.53 -- session low 53.53 (53.68 -0.36) -Technical-
10:49
PNRA Panera Bread hammered after reporting, drops to new session low at the 80.00 psych level (80.17 -6.03) -Update- -Technical-
Chart support below is at its March peak/bull breakout point at 79.73.
10:47
QQQQ For the second time this morning the Nasdaq Comp -3.1 has set a new session low that was not confirmed by the Dow +25 and S&P +4.6 -Update- -Technical-
First level support for the Nasdaq Comp noted in The Technical Take 2468/2459 is still intact (session low 2461).
10:38
GOOG Google extends its recent weakness lower intraday as it dips down to challenge its Feb range/7-mth low here near the $520.00-523.00 area (521.17 -6.79) -Technical-
Would note that the stock is taking out its 200-day ema (near $529.00) with this morning's action, something that sellers have not managed to do since the buyers were able to reclaim that level last April... a notable character change.
10:36
T AT&T divests stake in Tech Mahindra; will maintain business relationship (25.72 -0.23)
Co announced it has divested its holdings in Tech Mahindra Limited. Per the terms of a 2005 agreement, on March 22, 2010, AT&T exercised an option over ~9.9 million shares, representing 8.1% of Tech Mahindra shares outstanding on that date. AT&T intends to maintain its vendor relationship with Tech Mahindra, which provides IT services to AT&T. "Our relationship with Tech Mahindra offers strategic advantages to AT&T, and we plan to continue to work with Tech Mahindra to meet AT&T's information technology needs," said Thaddeus Arroyo, chief information officer, AT&T. Terms of AT&T's contract with Tech Mahindra are not available.
10:35
ITB 1st hour global & sector ETF movers-- Homebuilders & Home Construction lead & Silver lags -Technical-
The Actively Traded Leading Global & Sector ETFs:
homebuilders & home construction- ITB +1.75%, XHB +1.50%, commercial banks- KBE +1.50%, gold miners- GDX +1.50%, financials- XLF +1.50%, IYF +1.25%, iShares Australia- EWA +1.50%, regional banks- KRE +1.25%, RKH +1.50%, insurers- KIE +1.25%
The Actively Traded Lagging Global & Sector ETFs:
silver- SLV -2.0%, VIX vol index- VXX -1.25%, Yen currency shares- FXY -1.0%, platinum- PGM -0.50%, PTM -0.50%, US bonds- TLT -0.50%, solar power- TAN -0.75%, RBOB gas0 UGA -0.25%, iShares Germany- EWG -0.50%
10:33
YHOO Yahoo! down for fourth session in a row but attempting to stabilize after testing its 50-day sma at 16.64 -- session low 16.65 (16.76 -0.17) -Technical-
10:31
EGN Energen beats by $0.01, beats on revs; raises FY10 EPS guidance (48.54 +0.45)
Reports Q1 (Mar) earnings of $1.62 per share, $0.01 better than the Thomson Reuters consensus of $1.61; revenues rose 18.8% year/year to $574.9 mln vs the $546.6 mln consensus. Co says it is increasing guidance largely due to solid first quarter results. Co raises guidance for FY10, sees EPS of $4.30-4.70, up from $4.20-4.60, vs. $4.43 Thomson Reuters consensus. "We are above our budgeted expectations despite falling short of expected production primarily due to timing issues. In addition, we have adjusted our assumed prices for our unhedged production for the remainder of the year to more closely reflect the current market outlook." Energen's new earnings guidance assumes that commodity prices applicable to its unhedged production for the remainder of the year will average $4.50 per Mcf for natural gas, $85 per barrel for oil and 92 cents per gallon for NGL.
10:31
UUP Dollar Index vacillating modestly under overnigh/11 month high -Technical-
The inverse relationship between the Dollar Index and equity market is not as tight as it was during 2009. However, periods of Dollar strength since Dec have still been associated with a drifting or slipping S&P (Click for chart).
10:31
OIH Crude oil ticks back towards positive territory following inventory data; now up a penny to $82.46
10:30
CPIX Cumberland Pharma partners in Canada with Alveda Pharmaceuticals to commercialize Caldolor (10.84 +0.19)
Co announced it has entered into an exclusive agreement with Alveda Pharmaceuticals Inc. (Alveda Pharma), a Toronto-based specialty pharmaceutical company, for the commercialization of Caldolor Injection in Canada. Designed to treat pain and fever in the hospital setting, Caldolor was approved by the FDA and launched by Cumberland in the United States in 2009. According to the terms of the agreement, Alveda Pharma will seek Canadian regulatory approval for Caldolor and, upon approval, handle ongoing regulatory requirements as well as product marketing, distribution and sales throughout Canada. Cumberland will maintain responsibility for product formulation, development and manufacturing. In exchange for the license to the product, Cumberland will receive royalties on future sales of Caldolor in addition to upfront and milestone payments as well as a transfer price.
10:28
BRCM 1st hour NASDAQ 100 (NDX) strength & weakness-- Semis lead -Technical-
NDX 10 Best % Performers:
BRCM +3.75%, XRAY +3.0%, VMED +2.50%, JOYG +2.25%, LIFE +2.0%, PDCO +1.50%, FSLR +1.50%, SHLD +1.75%, WCRX +1.50%, NIHD +1.25%
NDX 10 Worst % Performers:
ATVI -3.50%, AMZN -2.0%, VOD -1.75%, AAPL -1.75%, FLEX -1.50%, FWLT -1.50%, YHOO -1.25%, SNDK -1.25%, VRSN -1.25%, STX -1.25%
NASDAQ TRIN @ +1.40
NASDAQ A/D @ +425
10:24
JPM 1st hour Dow 30 (INDU) strength & weakness -- Financials lead through the 1st hour
INDU 5 Best % Performers:
JPM +1.75%, BAC +1.50%, CAT +1.50%, KFT +1.0%, IBM +0.75%
INDU 5 Worst % Performers:
MCD -1.0%, T -1.0%, INTC -0.75%, BA -0.75%, UTX -0.75%
NYSE TRIN @ +0.65
NYSE A/D @ +700
10:18
AMZN Amazon.com notches new session low of 139.13 to test support at last week's low of 139.13 (139.18 -2.84) -Technical-
10:17
PPL PPL Corp makes an aggressive extension lower following CNBC report (see 10:07); stock now down 5% on the day and making new 52-wk lows (26.32 -1.40) -Update-
10:15
IMAX IMAX and Warner Bros. sign up to 20 picture deal from 2010 through 2013 (20.34 +0.19)
Co and Warner Bros. Pictures, a unit of Time Warner Inc. (TWX), announced that they have completed an agreement to release up to 20 Warner Bros. films in IMAX's format over the course of the next three and a half years (from 2010 through 2013).
10:15
QQQQ Lagging Nasdaq 100 -0.3 and Nasdaq Comp -0.2 slip just slightly under yesterday's lows but the move has not been confirmed by the Dow +7 and S&P +3 -Technical-
10:15
X U.S. Steel Canada to sell Bar, Bloom & Billet Mill to Max Aicher North America (57.94 +1.31) -Update-
Co announced that it has entered into an agreement to sell the No. 1 Bar Mill and the No. 3 Bloom and Billet Mill located at its Hamilton Works to Max Aicher (North America) Inc., a wholly owned subsidiary of Max Aicher GmbH & Co. KG of Germany. The transaction is subject to the receipt of certain government approvals and other conditions. Terms of the transaction were not released. The balance of the operations at U. S. Steel Canada Hamilton Works will not be affected by the sale.
10:04
SAP SAP AG on defensive after reporting, vacillating near its 50-day sma at 47.11 -- session low 47.10 (47.10 -1.45) -Update- -Technical-
The 38% retrace of the entire Feb-April rally is at 41.00.
10:01
ARRS Arris cable products meet USDA 'Buy American' requirement (12.48 +0.10) -Update-
10:01
SPY Stock indices slip back slightly off early highs -- Dow +19, S&P +4.5, Nasdaq +2.7 -Update- -Technical-
Seeing relative sector weakness on this intraday move in Semi SMH, Internet HHH, Software SWH, Restaurant, Airline, Casino BJK.
10:00
FNF Fidelity National: Savana enters enterprise licensing deal with Fidelity National Financial for business process automation (15.24 +0.15)
Savana announced that it has entered into an enterprise wide license with Fidelity National Financial for its EPITOME Suite of business process automation software.
09:49
TECHX Opening Point Gainers/Losers -Technical-
Point Gainers: GS (+4.02), OC (+3.75), RKT (+2.99), JLL (+2.79), AIG (+2.31), AMED (+2.45), CP (+2.03), ROK (+2.25), TMO (+1.93), BRCM (+1.88), RGR (+1.84), IVZ (+1.78), DFG (+1.75)
Point Losers: BWLD (-8.76), PNRA (-3.98), JST (-2.24), RHI (-3.55), AMAG (-3.86), SMCI (-3.13), MHS (-2.88), NATI (-2.41), DVA (-2.39), CMP (-2.45), HTCH (-2.04), EEFT (-1.94), HZO (-1.27)
09:44
SPY S&P +5.6 and Nasdaq Comp +7.9 test/hold at first level resistance -Technical-
Highlighted resistances at 2482/2488 Nasdaq (high 2484) and 1189/1190 S&P (high 1190) and have seen a quick test and pause this morning. Second level resistances are at 2497/2508 and 1194/1196, respectively.
09:39
XLF Early sector leadership -Technical-
Helping pace the bounce in early trade are Finance (XLF +1.6%, KBE +1.7%, KIE +1.4%, RKH +1.5%) along with Housing XHB +1.9%, Coal KOL +1.3%, Airline +1.3%, Semi SMH +1.2%, Casino BJK +1.2%.
09:34
USEG U.S. Energy received a cash distribution of $1.1 million from Standard Steam Trust (5.82 +0.08)
Co announced that it has received a cash distribution of $1.1 million from Standard Steam Trust ("SST"). SST notified USE that the management committee approved a $5 million aggregate distribution on April 1, 2010. USE's 22.8 % share of the distribution was $1.1 million. The distribution resulted from a sale by SST of one of their eight projects to an undisclosed third party for an undisclosed amount.
09:33
BWLD Buffalo Wild Wings gaps down near its Feb low of 41.28 and stabilizes -- session low 41.23 (41.92 -9.09) -Update- -Technical-
09:16
JPM JP Morgan Chase to add 90 bank branches in California in 2010 (42.91 )
Co announced that it will continue its investment in California by opening about 90 new branches and adding more than 1,200 new jobs to California in 2010.
09:10
TEVA Teva Pharm announces launch of generic Flomax (59.70 )
Co announced U.S. Food and Drug Administration (FDA) approval and commercial launch of its generic version of Boehringer Ingelheim's Flomax Capsules, 0.4 mg, a product indicated for the treatment of signs and symptoms of benign prostatic hyperplasia. The brand product had annual sales of approximately $2 billion in the United States, based on IMS sales data.
09:10
On The Wires
RiT Technologies (RITT) and Stins Coman Inc., RiT's controlling shareholder, announced that they have extended the term of their convertible loan agreement, which was originally due to expire in June 2010, by an additional 12 months, until June 11, 2011. During this extended period, RiT may call for any additional portion of the loan... Level 3 Communications (LVLT) announced that is has issued an irrevocable notice to redeem its 10% Convertible Senior Notes due 2011 on May 27, 2010. The aggregate principal outstanding amount of $171,800,000.00 of the 10% Notes will be redeemed at a redemption price of $1,016.70 per $1,000.00 principal amount of 10% Notes, plus accrued and unpaid interest up to, but not including, May 27, 2010... Diamond Offshore Drilling (DO) announced its decision to redeem on May 28, 2010 all of its outstanding Zero Coupon Convertible Debentures Due June 6, 2020 at the redemption price of $706.28 per $1,000 principal amount at stated maturity, in accordance with the Indenture under which the Debentures were issued. On May 28, 2010, the redemption price will become due and payable and original issue discount on the Debentures will cease to accrue... Vitacost.com, (VITC) announced the opening of its new west coast distribution center located in Las Vegas, NV. The new 155,000 square foot distribution center replaces the Company's former 63,000 square foot Las Vegas facility, which is in the process of being closed. All products are now successfully being shipped out of the new facility... Internet Brands (INET) announced the acquisition of ExpertHub, a network of websites that connects consumers with attorneys and other professionals... HealthSouth Corporation (HLS) announced it has entered into a definitive agreement to purchase Desert Canyon Rehabilitation Hospital, a 50-bed inpatient rehabilitation hospital located in southwest Las Vegas, Nev... TeleCommunication Systems (TSYS) announced the issuance by the U.S. Patent and Trademark Office of patent number 7,707,407 entitled, "Encryption of Voice and Data in a Single Data Stream in a Deployable, Secure Communication System"... Premier Purchasing Partners has awarded a contract for patient cleansing and skin care products to the Advanced Wound Management Division of Smith & Nephew, a subsidiary of Smith & Nephew (SNN).
09:03
CFR Cullen/Frost Bnkrs beats by $0.04 (57.80 )
Reports Q1 (Mar) earnings of $0.79 per share, $0.04 better than the Thomson Reuters consensus of $0.75. For the first quarter of 2010 the provision for possible loan losses was $13.6 million, compared to net charge-offs for the quarter of $13.5 million, or .66% of average loans on an annualized basis. The loan loss provision for the first quarter of 2009 was $9.6 million, compared to net charge-offs of $5.7 million. Non-performing assets at quarter-end were $171.6 million, compared to $127.8 million a year earlier and $180.2 million the previous quarter. Non-performing asset levels, which peaked in the third quarter of 2009 have declined $49 million, or 22%, since that date. The allowance for possible loan losses as a percentage of loans increased to 1.53% at March 31, 2010, compared to 1.30% at the end of the first quarter of 2009 and 1.50% at December 31, 2009.
09:03
BEN Franklin Resources misses by $0.01, misses on revs (112.97 )
Reports Q2 (Mar) earnings of $1.55 per share, $0.01 worse than the Thomson Reuters consensus of $1.56; revenues rose 54.9% year/year to $1.41 bln vs the $1.44 bln consensus. Total assets under management by the company's subsidiaries were $586.8 billion at March 31, 2010, as compared to $553.5 billion at December 31, 2009 and $391.1 billion at March 31, 2009. Simple monthly average assets under management during the quarter ended March 31, 2010 were $561.2 billion, as compared to $534.9 billion in the prior quarter and $396.6 billion in the same quarter a year ago.
09:01
SRE Sempra Energy, State of California to settle energy crisis litigation; will reduce that quarter's earnings by approximately $96 million after tax, or $0.38 per share (49.02 )
Co announced that it has reached an agreement in principle with the state of California and California parties to settle substantially all of the remaining litigation related to the energy crisis of 2000-01. RBS Sempra Commodities -- Sempra Energy's commodities joint venture with The Royal Bank of Scotland (RBS) -- and Sempra Energy expect to settle the cases for a total of $410 million. Previously recorded reserves and receivables at RBS Sempra Commodities would fund the largest portion of the settlement. Sempra Energy has recorded reserves for the remaining portion of the settlement in the first quarter of 2010 that will reduce that quarter's earnings by approximately $96 million after tax, or $0.38 per share.
09:01
ELGX Endologix announces publication of consolidated long-term anatomical fixation clinical trial results (4.70 )
Co announces the publication of consolidated results from its prospective, multicenter clinical trials of the Company's Powerlink stent graft for the endovascular repair of abdominal aortic aneurysms using an anatomical fixation technique. The trial results demonstrate no aneurysm ruptures, no conversions to open repair, no device migrations, no stent fractures, no graft fatigue, no junctional endoleaks, no transgraft endoleaks, and 100% freedom from aneurysm-related mortality for up to five years post-implant. In addition, core lab evaluations found a low rate of limb occlusion, with significantly reduced or stable aneurysm sacs in 95% and 93% of patients at one year and five years, respectively.
08:53
MSO Martha Stewart beats by $0.09, beats on revs (6.84 )
Reports Q1 (Mar) loss of $0.07 per share, $0.09 better than the Thomson Reuters consensus of ($0.16); revenues rose 5.6% year/year to $53.2 mln vs the $49.7 mln consensus.
08:48
FLR Fluor to perform jetty boil-off gas recovery project for Qatargas (52.50 )
Co announced that it was awarded an engineering, procurement and construction management (EPCM) contract by Qatargas Operating Company Limited in Ras Laffan, Qatar. This EPCM contract is part of a project with a total capital expenditure of approximately $1 billion. Under a previous contract, Fluor completed front-end engineering and design and other services. Fluor booked its portion of the project into backlog in the first quarter of 2010. The new jetty boil-off project is estimated for completion by the end of 2013 or early 2014.
08:45
ORBT Orbit Int'l Power Group receives follow-on production order valued at approximately $460,000 in support of oil and gas services industry (3.80 )
08:45
SLXP Salix Pharma announced the FDA has issued a complete response letter regarding the New Drug Application for GIAZO (38.55 )
Co announced the Food and Drug Administration (FDA) has issued a complete response letter regarding the New Drug Application (NDA) for GIAZO Tablets 1.1 g. for the treatment of mild-to-moderate active ulcerative colitis in patients 18 years and older. In this complete response letter there are no requests for new pre-clinical or clinical trials. The sole issue raised in this letter concerns a deficiency of the manufacturing facility for this application. The manufacturer has responded to the FDA and continues to work with the FDA to resolve the matter. The facility only manufactures COLAZAL Capsules and GIAZO Tablets for Salix.
08:44
On The Wires
Integral Systems (ISYS) announced that it has acquired privately held Sophia Wireless for $2.5 million in an all cash transaction. The acquisition will be financed using the Company's existing cash available... Reed's, Inc. (REED) announced that it has reached its fourth private label agreement with a national wholesale grocer that distributes more than 6,000 products into over 3,500 independent and chain stores in 23 states across the U.S.
08:41
RCL Royal Caribbean beats by $0.06, reports revs in-line; guides Q2 EPS above consensus; guides FY10 EPS above consensus (36.30 )
Reports Q1 (Mar) earnings of $0.01 per share, excluding a $0.39 gain from a legal settlement, $0.06 better than the Thomson Reuters consensus of ($0.05); revenues rose 12.1% year/year to $1.49 bln vs the $1.48 bln consensus. Co issues upside guidance for Q2, sees EPS of $0.16-0.21 vs. $0.11 Thomson Reuters consensus. Co issues upside guidance for FY10, sees EPS of $2.15-2.25 vs. $1.80 Thomson Reuters consensus. Net Yields for the first quarter of 2010 increased 2.6% - versus guidance of approximately 2%. Net Cruise Costs per APCD for the first quarter of 2010 decreased 2.2% - better than expectations of approximately flat. Second quarter 2010 Net Yields are expected to improve approximately 6%, and for the full year 2010, Net Yields are forecasted to improve 4% to 5% due to improved business conditions offset by negative currency movements and the impact of the recent European travel disruptions. NCC excluding fuel are expected to be down approximately 1% for the second quarter and for the full year 2010. The company reported that the strong WAVE season that it was experiencing in January continued through the first quarter and that booked load factors and average per diems are running ahead of same time last year for the second, third and fourth quarters. "While the economy is still affecting our results, we are pleased to be reporting better than expected revenues and costs and we continue to see a gradual and steady improvement in the booking environment. This recovery, combined with our cost containment efforts and improving fleet profile, bode well for improvement in our returns on investment and our balance sheet in 2011 and beyond."
08:38
TCLP TC PipeLines, LP beats by $0.02, beats on revenue (40.26 )
Reports Q1 (Mar) earnings of $0.71 per share, $0.02 better than Thomson-Reuters consensus of $0.69; revenue increased 10.7% year/year to $17.4 mln vs $16.38 two-analyst estimate.
08:30
COP ConocoPhillips terminating agreement to develop Shah Gas Field (57.70 +0.16)
Co decided to end its participation in developing the Shah Gas Field with Abu Dhabi National Oil Company (ADNOC). ConocoPhillips had considered holding a 40 percent ownership stake in the project.
08:23
JMP JMP Group beats by $0.02, misses on revs (8.21 )
Reports Q1 (Mar) earnings of $0.10 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.08; revenues rose 4.1% year/year to $25.2 mln vs the $27.5 mln consensus.
08:19
IMA Inverness Medical beats by $0.01, reports revs in-line (37.20 )
Reports Q1 (Mar) earnings of $0.64 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.63; revenues rose 21.2% year/year to $515.3 mln vs the $517.5 mln consensus. Recent professional diagnostics acquisitions contributed $54.1 million of incremental net revenue, compared to the first quarter of 2009. North American influenza sales totaled $2.3 million for the first quarter of 2010, compared to $6.4 million for the first quarter of 2009 and $39.7 million in the fourth quarter of 2009.
08:12
LGF Lions Gate Entertainment comments on British Columbia Securities Commission decision on shareholder rights plan (6.62 )
Co urges shareholders to reject Icahn Group's offer and not tender their shares. "Lionsgate is disappointed by the BCSC's decision. The Company believes that its shareholders' right to vote is paramount and any decision to cease trade the Shareholder Rights Plan should have been withheld until Lionsgate shareholders had the opportunity to consider and to vote upon it at the Special Meeting of Shareholders on May 4, 2010..."
08:11
VRX Valeant to acquire Vital Science Corp. in Canada (40.67 )
Co announced that its wholly owned subsidiary, Valeant Canada Limited, has signed an agreement to acquire Vital Science Corp., a dermatology company located in Toronto, Ontario, Canada for approximately C$10.5 million. Vital Science currently has annualized sales of approximately C$11 million and the transaction is expected to be accretive in 2010. The transaction is expected to close in the second quarter.
08:10
MRNA MDRNA announces combinations of UsiRNAs in proprietary DiLA2 delivery technology show improved efficacy in bladder cancer model (1.24 )
The co reports data demonstrating greater efficacy in tumor reduction in an orthotopic model of bladder cancer with multiple combinations of two UsiRNAs as compared to single target therapy... To assess the impact of a multi-target approach on tumor growth in vivo, a survivin UsiRNA was paired with FGFR3, HRAS, or PLK1 UsiRNAs and compared to the survivin UsiRNA alone. All UsiRNAs were encapsulated in the Company's proprietary DiLA2-based formulation, and delivered directly to the bladder (intravesical) in an orthotopic cancer model. For the survivin/PLK1 combination, tumor bioluminescence and survivin mRNA expression was notably lower (~30% for each endpoint) when compared to a survivin alone. Similar results for tumor bioluminescence and mRNA were found with the survivin/FGFR3 combination. With survivin/HRAS there was a ~40% greater decrease in tumor bioluminescence and ~50% greater inhibition of survivin mRNA.
08:08
SLAB Silicon Labs beats by $0.07, beats on revs; guides Q2 revs above consensus (50.71 )
Reports Q1 (Mar) earnings of $0.62 per share, excluding non-recurring items, $0.07 better than the Thomson Reuters consensus of $0.55; revenues rose 51.4% year/year to $126.7 mln vs the $123.4 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $131-135 mln vs. $128.23 mln Thomson Reuters consensus. Strong performance for the quarter was led by the company's broad-based products, which were up 11 percent sequentially. Strength in networking equipment and customer expansion resulted in another record quarter for timing products. The embedded mixed-signal products also had a record quarter, with particular strength in MCU coming from recovery in demand among communications and industrial customers. Record development kit shipments were driven by wireless applications in home security, metering and home automation. "Q1 was a great start to 2010. Our products are delivering on the growth we had anticipated with very attractive gross margins. We are executing on a record number of exciting new product developments and have been able to attract an increasing number of talented employees to the company. Our financial strength is giving us the ability to continue to invest and capitalize on a number of untapped strategic opportunities."
08:07
CNST Constar announces resignation of Michael Hoffman; Ruth Mack to serve as Interim President and CEO (20.00 )
Co announces that Michael Hoffman has resigned as President, Chief Executive Officer and Director, effective today, to pursue other opportunities. Constar's Board of Directors has initiated a search for Mr. Hoffman's replacement. In the interim, Ruth Mack will serve as President and Chief Executive Officer effective immediately, in addition to her current role as a member of Constar's Board of Directors.
08:06
RZ Raser Technologies provides company update (0.83 )
Co announced that it is nearing completion and start-up of the bottom cycle project at its Thermo No. 1 plant in southern Utah. The changes re-direct a portion of the geothermal water coming out of the top cycle units and run it through PureCycle units currently sitting idle, allowing additional temperature to be pulled out of the geothermal water and converted to electricity. In addition, Raser has engaged a placement agent to monetize the remaining tax benefits from the Thermo No. 1 project with a new tax equity partner, replacing Merrill Lynch who was redeemed out of the project in December of 2009. The tax benefits result primarily from accelerated depreciation the Company is not in a position to fully utilize in the near term. These proceeds would be in addition to the $33 million the project received early this year as part of the U.S. Treasury grant program for the benefit of Raser and its financing partners.
08:05
CRY CryoLife misses by $0.01, reports revs in-line; guides FY10 EPS above consensus, revs in-line (6.05 )
Reports Q1 (Mar) earnings of $0.07 per share, $0.01 worse than the Thomson Reuters consensus of $0.08; revenues rose 11.2% year/year to $29.7 mln vs the $29.7 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.36-0.40 vs. $0.36 Thomson Reuters consensus; sees FY10 revs of $118-123 mln vs. $121.67 mln Thomson Reuters consensus.
08:04
MDCO The Medicines Co beats by $0.02, misses on revs (7.65 )
Reports Q1 (Mar) earnings of $0.18 per share, $0.02 better than the Thomson Reuters consensus of $0.16; revenues rose 2.9% year/year to $102.1 mln vs the $110.3 mln consensus. Co says global angiomax/angiox (bivalirudin) hospital demand reaches record high; Angiomax U.S. sales increased to $95.7 million compared to $95.5 million for the same period 2009, Angiomax/Angiox international net revenue increased to $5.6 million compared to $3.2 million for the same period 2009.
08:04
OSIR Osiris Therapeutics receives $1 mln milestone payment for Prochymal Development Progress in Japan (7.50 )
The co announces that it has achieved a $1 million milestone payment from its Japanese commercial partner, JCR Pharmaceuticals, for development progress made advancing Prochymal for the treatment of acute graft vs. host disease (GvHD) in Japan.
08:04
AVII AVI BioPharma secures increased funding of approx $4.0 mln (1.30 )
Co announces it has secured increased funding of up to approx $4.0 million under its agreement with the U.S. Defense Threat Reduction Agency to develop, in cooperation with the Transformational Medical Technologies Initiative of the DoD one or more of AVII's nucleotide-based drug candidates targeting the pandemic H1N1 influenza virus. The increased funding will support continued preclinical development of AVI's lead influenza drug candidate, AVI-7367, against H1N1 as well as its expanded preclinical evaluation against H5N1 (avian flu) and drug resistant H1N1 and H3N2 flu strains.
08:04
MDP Meredith beats by $0.04, beats on revs; guides Q4 EPS in-line (37.22 )
Reports Q3 (Mar) earnings of $0.69 per share, excluding items, $0.04 better than the Thomson Reuters consensus of $0.65; revenues rose 4.7% year/year to $353.3 mln vs the $345 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.61-0.66 vs. $0.66 Thomson Reuters consensus. Looking at the fourth quarter of fiscal 2010, total Company advertising revenue is expected to increase 7 to 8 percent over the prior year. This includes: Local Media Group non-political advertising revenue, which is currently pacing up in the high teens, and; National Media Group advertising revenue, which with two of three magazine issues closed, is expected to be flat to up slightly.
08:03
RVSN RADVision beats by $0.01, beats on revs; guides Q2 EPS above consensus, revs above consensus (6.53 )
Reports Q1 (Mar) loss of $0.03 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of ($0.04); revenues rose 13.7% year/year to $20.8 mln vs the $20.1 mln consensus. Co issues upside guidance for Q2, sees EPS of ~$0.01, excluding non-recurring items, vs. ($0.07) Thomson Reuters consensus; sees Q2 revs of ~$22 mln vs. $19.87 mln Thomson Reuters consensus.
08:03
NOC Northrop Grumman beats by $0.19, beats on revs; guides FY10 EPS in-line (67.18 )
Reports Q1 (Mar) earnings of $1.51 per share, $0.19 better than the Thomson Reuters consensus of $1.32; revenues rose 8.5% year/year to $8.61 bln vs the $8.07 bln consensus. Co issues in-line guidance for FY10, sees EPS of $5.75-6.00 vs. $5.84 Thomson Reuters consensus.
08:02
GLOI GlobalOptions Sells its Security Consulting and Design Services Unit To Guidepost Solutions (1.64 )
Co announces it eentered into a definitive agreement to sell SafirRosetti, the security consulting and design services unit of its Security Consulting and Investigations segment, to Guidepost Solutions, LLC, a leading provider of global investigative and security services, for approximately $5.25 million, consisting of $3.50 million in cash and a note with a face value of $1.75 million, plus contingent consideration of up to approximately $1.50 million, based upon the purchaser's realization of certain working capital targets. Bode Technology Group, the other unit in the segment, will remain with the company and the business segment will be renamed Forensic DNA Solutions and Products. The transaction, which has been approved by the GlobalOptions' Board of Directors, is expected to close by April 30, 2010, and is subject to customary closing conditions. GlobalOptions plans to use the proceeds from the sale for general corporate purposes.
08:02
FSLR First Solar agrees to acquire NextLight Renewable Power; total consideration for the transaction is approx $285 mln (128.36 )
Co and NextLight Renewable Power, LLC announce they have entered into a definitive agreement for First Solar to acquire NextLight, a developer of utility-scale solar projects in the southwestern United States. The acquisition includes a 1,100 megawatt solar project pipeline. First Solar will acquire NextLight in an all-cash transaction that is expected to be completed in the third quarter of 2010, pending the satisfaction of certain closing conditions specified in the merger agreement. Total consideration for the transaction is approx $285 million, subject to certain closing adjustments as provided in the merger agreement.
08:02
HL Hecla Mining beats by $0.05, misses on revs; maintaining its previously announced full-year production guidance (5.85 )
Reports Q1 (Mar) earnings of $0.08 per share, $0.05 better than the Thomson Reuters consensus of $0.03; revenues rose 46.1% year/year to $79.9 mln vs the $81.9 mln consensus. Hecla's is maintaining its previously announced full-year production guidance of 10 to 11 million ounces of silver with cash costs in the range of $1.90-$2.25 per ounce. Hecla's estimate of cash costs in 2010 is based on by-product prices of $0.80 per pound for zinc and lead. "This quarter's performance is further evidence of the strength of Hecla's mines and people. Strong revenues and lower unit costs drove the quarter's results. I am confident that Hecla will continue to be the lowest-cost silver producer and the largest U.S. producer. With the strength of our balance sheet and cash flow, we can fund our exploration and capital programs while still considering new opportunities."
08:01
IKAN Ikanos appoints Diosdado Banatao as Executive Chairman (3.09 )
The co announces that effective immediately Michael Gulett has resigned as CEO and president and as a member of its board of directors. Diosdado Banatao, the chairman of Ikanos' board of directors, has been appointed executive chairman and has assumed the role of interim president and CEO.
08:01
RTIX RTI Biologics misses by $0.03, misses on revs; guides FY10 EPS in-line, revs in-line (4.01 )
Reports Q1 (Mar) net of breakeven, $0.03 worse than the Thomson Reuters consensus of $0.03; revenues fell 2.1% year/year to $37.8 mln vs the $41.5 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.15-0.17 vs. $0.16 Thomson Reuters consensus; sees FY10 revs of $174.5-177.5 vs. $175.21 mln Thomson Reuters consensus.
08:01
SLAB Silicon Labs acquires Silicon Clocks and CMEMS technology (50.71 )
The co announces the acquisition of Silicon Valley-based Silicon Clocks, an early stage company creating innovative microelectromechanical system (MEMS) technology. Silicon Clocks' CMEMS(TM) (CMOS+MEMS) technology is aligned with Silicon Labs' efforts to leverage its CMOS-based timing products into high-volume applications such as consumer electronics.
07:53
CDCS CDC Software misses by $0.06, reports revs in-line (10.56 )
Reports Q1 (Mar) earnings of $0.28 per share, excluding non-recurring items, $0.06 worse than the Thomson Reuters consensus of $0.34; non-GAAP revenues rose 2.6% year/year to $51.7 mln vs the $51.6 mln consensus. First quarter 2010 application sales, which is comprised of license revenue plus new Total Contract Value (TCV) for Software-as-a-Service (SaaS) sales secured, increased 14 percent to $8.2 million during the first quarter of 2010, from $7.2 million in the first quarter of 2009. Total contracted and unrecognized recurring revenue at the end of the first quarter 2010 was $52.5 million compared to $49.2 million at end of the fourth quarter of 2009. First quarter 2010 license revenue was $7.9 million, and TCV for new SaaS contracts secured in the quarter was $0.3 million. Also the number of enterprise and SaaS deals in the first quarter of 2010 increased by about 18.7 percent to 299 from 252 in the first quarter of 2009 (which did not include SaaS). "We saw solid growth in application sales and recurring revenue despite the first quarter typically being lower than other quarters due to the seasonality such as customer's "budget flush" where they generally have less flexibility in capital spending."
07:48
MPEL Melco Crown Entertainment reports EPS in-line, beats on revs (4.72 )
Reports Q1 (Mar) loss of $0.02 per share, in-line with the Thomson Reuters consensus of ($0.02); revenues rose 162.2% year/year to $567.6 mln vs the $558 mln consensus. The increase in net revenue resulted primarily from the opening of City of Dreams in June 2009. Adjusted EBITDA was US$86.9 million for the first quarter of 2010, as compared with Adjusted EBITDA of US$21.3 million in the first quarter of 2009. "The combined rolling chip table games hold percentage (calculated before discounts and commissions) across City of Dreams and Altira Macau in the first quarter of 2010 was 2.9%, within the expected rolling chip hold percentage range of 2.7% to 3.0%. The co-wide mass market table games hold percentage (non rolling chip) in the first quarter of 2010 was 19.7%, which is above the previous target hold percentage range of 16.0% to 18.0%, but consistent with the mass market hold percentage at mass market focused properties, such as City of Dreams. Going forward, we target 18% to 20% for our company-wide mass market table games hold percentage."
07:44
On The Wires
NewLead Holdings (NEWL) announced that it has completed the first phase of its turnaround with the sale of three additional non-core vessels and the agreement to purchase one newbuild Post-Panamax vessel. Co's fleet has expanded by over 50%. In addition, management focused on improving profitability by bringing in-house commercial and technical expertise... Sapiens International Corporation (SPNS) announced that it has acquired Harcase Software, a provider of software solutions to the North American insurance industry. The purchase price, consisting of cash and stock, is expected to be in the amount of $6 mln to $8 mln, subject to achieving certain milestones... Molecular Insight Pharmaceuticals (MIPI) received a letter from The NASDAQ Stock Market notifying the Company it has regained compliance with NASDAQ's minimum market value of listed securities rule.
07:40
CFL Broadview Security beats by $0.08, reports revs in-line (42.55 )
Reports Q1 (Mar) earnings of $0.38 per share, $0.08 better than the Thomson Reuters consensus of $0.30; revenues rose 7.7% year/year to $146.5 mln vs the $146.1 mln consensus. The increase in revenue was primarily due to continued growth in the subscriber base and higher average monitoring rates. Monthly recurring revenue increased 8.0 percent at quarter-end over the prior year period to $44.8 million, driven by a 3.6 percent increase in ending subscribers and a 4.2 percent increase in average monthly recurring revenue per subscriber. The date for the special meeting of shareholders to vote on the proposed acquisition by Tyco International (TYC) has been set for May 12, 2010. Assuming the proposal receives the necessary shareholder approval, the transaction is expected to close on May 14, 2010.
07:39
SO Southern Co beats by $0.16, beats on revs (34.50 )
Reports Q1 (Mar) earnings of $0.60 per share, $0.16 better than the Thomson Reuters consensus of $0.44; revenues rose 13.4% year/year to $4.16 bln vs the $3.71 bln consensus. Positive earnings drivers included the amortization of excess funds set aside for the removal of retired equipment and revenues associated with the recovery of investments in environmental equipment. The positive earnings drivers in the first quarter were partially offset by higher non-fuel operations and maintenance expenses and an increase in the number of shares outstanding.
07:38
JBLU Jetblue Airways misses by $0.04, misses on revs (6.52 )
Reports Q1 (Mar) loss of $0.01 per share, $0.04 worse than the Thomson Reuters consensus of $0.03; revenues rose 9.7% year/year to $870 mln vs the $880.5 mln consensus. Revenue passenger miles for the first quarter increased 7.1% to 6.5 billion on a 6.1% increase in capacity, resulting in a first quarter load factor of 76.8%, an increase of 0.8 points year over year. Yield per passenger mile in the first quarter was 12.13 cents, up 3.8% compared to the first quarter of 2009. Passenger revenue per available seat mile for the first quarter 2010 increased 4.9% year over year to 9.32 cents and operating revenue per available seat mile (RASM) increased 3.4% year-over-year to 10.32 cents. For the 2Q10, PRASM and RASM are expected to increase between 6%-9% YoY. CASM is expected to increase between 12%-14% over the year-ago period. Excluding fuel, CASM in the second quarter is expected to increase between nine and 11% YoY. PRASM and RASM for the full year are expected to increase between 6%-9% YoY. CASM for the full year is expected to increase between 8-10% over full year 2009. Excluding fuel, CASM in 2010 is expected to increase between 3-5% percent year over year. Capacity is expected to increase between four and six percent in the second quarter and to increase between six and eight percent for the full year.
07:38
AFAM Almost Family beats by $0.07, beats on revs (38.61 )
Reports Q1 (Mar) earnings of $0.80 per share, $0.07 better than the Thomson Reuters consensus of $0.73; revenues rose 18.7% year/year to $81.8 mln vs the $79.2 mln consensus. "We're very pleased to report our first quarter operating results which truly highlight the strength of our underlying core business. Our VN segment generated 20% organic revenue growth over the same quarter last year... The recent passage of health care reform legislation now provides us with reasonable reimbursement visibility for the next three years. Combined with our strong financial condition and access to additional capital, this reimbursement clarity positions us to take advantage of our acquisition opportunities which have largely been on hold for the past year."
07:36
ETH Ethan Allen misses by $0.05, reports revs in-line (23.73 )
Reports Q3 (Mar) loss of $0.05 per share, $0.05 worse than the Thomson Reuters consensus of ($0.00); revenues rose 5.1% year/year to $147.3 mln vs the $147.3 mln consensus. "The 'Great Recession' has provided us an opportunity to examine every aspect of our business and undertake major improvements to all aspects of our vertically integrated structure. We have also focused on improving our liquidity. Our total cash, investments, and restricted cash at March 31, 2010 was $85 million; an increase of 61% since June 30, 2009... While we are gratified with the increase in booked orders during the quarter, the major progress in our initiatives, and the positive news of consumer confidence, we remain cautious as the improvement in the economy is still at an early stage with many uncertainties on the horizon."
07:36
SEE Sealed Air beats by $0.01, reports revs in-line; guides FY10 EPS in-line (22.76 )
Reports Q1 (Mar) earnings of $0.36 per share, $0.01 better than the Thomson Reuters consensus of $0.35; revenues rose 7.4% year/year to $1.06 bln vs the $1.07 bln consensus. Co issues in-line guidance for FY10, sees EPS of $1.50-1.70 vs. $1.60 Thomson Reuters consensus. "We look to higher volumes during the year to achieve a constant dollar sales growth rate of 4-6%, as new contracts, product applications, and a continuing economic recovery will drive sales growth. We expect to offset our revised full year average resin price increase in the low, double-digit percent range largely from our pricing actions, but also from productivity improvements and disciplined management of expenses. Although our original guidance was based on a stronger euro, we expect the strengthening of other currencies to neutralize a weaker euro. Thus, we have not changed our overall expectations for a full year benefit from foreign exchange."
07:34
VTR Ventas reports EPS in-line; guides FY10 FFO in-line (47.39 )
Reports Q1 (Mar) funds from operations of $0.67 per share, in-line with the Thomson Reuters consensus of $0.67. Co issues in-line guidance for FY10, sees FFO of $2.69-2.75 vs. $2.75 Thomson Reuters consensus.
07:34
ABX Barrick Gold beats by $0.12, beats on revs (40.67 )
Reports Q1 (Mar) earnings of $0.75 per share, excluding non-recurring items, $0.12 better than the Thomson Reuters consensus of $0.63; revenues rose 44.3% year/year to $2.56 bln vs the $2.43 bln consensus. Q1 gold production was up 19% to 2.08 million ounces at total cash costs of $442 per ounce or net cash costs of $342 per ounce, which were $42 per ounce and $62 per ounce below prior year period total cash costs and net cash costs, respectively. ABX is on track with its guidance to increase production in 2010 to 7.6-8.0 million ounces at lower total cash costs of $425-$455 per ounce or net cash costs of $345-$375 per ounce. Barrick expects to meet its full year copper production guidance of 340-365 million pounds at total cash costs of $1.10-$1.20 per pound. Q1 copper production was 100 million pounds at total cash costs of $1.05 per pound, which were 20% lower than the prior year period.
07:34
IACI InterActive misses by $0.07, beats on revs (23.17 )
Reports Q1 (Mar) net of breakeven, $0.07 worse than the Thomson Reuters consensus of $0.07; revenues rose 16.2% year/year to $385.9 mln vs the $350.2 mln consensus.
07:34
VPHM ViroPharma misses by $0.06, misses on revs (13.90 )
Reports Q1 (Mar) earnings of $0.26 per share, $0.06 worse than the Thomson Reuters consensus of $0.32; revenues rose 50.5% year/year to $90.6 mln vs the $92.5 mln consensus. ViroPharma is increasing the bottom of its Cinryze net sales guidance range and reiterating our expense guidance for the year 2010. For the year 2010, ViroPharma expects the following: Net Cinryze sales are expected to be $155 to $175 million. Research and development (R&D) and selling, general and administrative (SG&A) expenses, including the impact of SFAS 123R,are expected to be $125 to $140 million. SFAS 123R expenses are expected to be between $10 and $12 million.
07:33
SSYS Stratasys beats by $0.02, beats on revs (25.86 )
Reports Q1 (Mar) earnings of $0.14 per share, $0.02 better than the Thomson Reuters consensus of $0.12; revenues rose 21.2% year/year to $28 mln, ex-$5 mln one-time non-cash charge against revenue, vs the $26.5 mln consensus. "We are encouraged by the positive trends in our business during the first quarter and remain optimistic regarding the balance of 2010. Consumable revenue grew by 22% during the quarter, and could be a leading indicator of a sustainable growth trend. Although our optimism is growing, we remain cautious in our outlook and will continue to control our expenses accordingly. We maintain a healthy balance sheet, which is reflected in our growing cash balance, and we are well positioned to execute our growth plans going forward."
07:32
ATI Allegheny Tech beats by $0.01, beats on revs (54.40 )
Reports Q1 (Mar) earnings of $0.24 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.23; revenues rose 8.2% year/year to $899.4 mln vs the $857.8 mln consensus. "We have turned the corner. Most of our markets are improving. We are seeing signs of recovery in our business: production schedules are filling, lead times are extending, and scrap is in short supply. With steady quarter-on-quarter improvement, we see 2010 as a transition year to the resumption of secular growth in our key markets."
07:32
LCRY LeCroy beats by $0.06, beats on revs; guides Q4 revs above consensus (5.78 )
Reports Q3 (Mar) earnings of $0.15 per share, ex-items, $0.06 better than the Thomson Reuters consensus of $0.09; revenues rose 24.9% year/year to $33.6 mln vs the $31.8 mln consensus. Co issues upside guidance for Q4, sees Q4 revs of $34-$35 mln vs. $33.45 mln Thomson Reuters consensus. Sees Q4 operating margins in the 8-9% range.
07:32
GD General Dynamics beats by $0.03, misses on revs (76.56 )
Reports Q1 (Mar) earnings of $1.54 per share, $0.03 better than the Thomson Reuters consensus of $1.51; revenues fell 6.2% year/year to $7.75 bln vs the $8.15 bln consensus. Company-wide operating margins for the first quarter of 2010 were 11.8%, compared to 11% in the year-ago period. Aerospace and Combat Systems margin growth was especially strong, increasing by 240 basis points and 180 basis points, respectively.
07:31
HES Hess beats by $0.56, beats on revs (63.35 )
Reports Q1 (Mar) earnings of $1.65 per share, $0.56 better than the Thomson Reuters consensus of $1.09; revenues rose 34.2% year/year to $9.22 bln vs the $8.11 bln consensus.
07:30
MYL Mylan Labs receives approval for generic version of Flomax(R) (21.36 )
Co announced that its subsidiary Mylan Pharmaceuticals Inc. received final approval from the U.S. Food and Drug Administration for its abbreviated new drug application for Tamsulosin Hydrochloride Capsules USP, 0.4 mg, the generic version of Boehringer Ingelheim's benign prostatic hyperplasia treatment, Flomax.
07:30
On The Wires
Herald National Bank (HNB) announced that on April 22, 2010, the Bank entered into a formal agreement with the United States Comptroller of the Currency. The OCC is the primary regulator for national banks. The formal agreement is based on the results of the Bank's first formal regulatory examination using the Uniform Financial Institution Rating System which assigns CAMELS Ratings... MoneyGram International (MGI) announced its return to Croatia today as Volksbank added MoneyGram's services to 28 countrywide locations. MoneyGram's return to Croatia follows MoneyGram's alliance with Volksbank in Serbia in 2008 and the opening of 33 MoneyGram-owned retail locations in Germany since 2006... Garmin-Asus, a co-branded alliance between Garmin (GRMN), and ASUSTeK Computer announced the Garmin-Asus A10, a touchscreen smartphone running on the Android platform that is for pedestrian navigation. The A10 is expected to be available in mid-2010 in Europe and Asia-Pacific.
07:29
ALNY Alnylam Pharma unit announced the presentation of new data at the Cell Culture Engineering XII conference (17.01 )
Co's Alnylam Biotherapeutics announced the presentation of new data at the Cell Culture Engineering XII conference. Alnylam Biotherapeutics was formed by Alnylam to develop RNAi technologies for application in manufacturing processes for biotherapeutic products, including recombinant proteins and monoclonal antibodies. The new data presented demonstrated the ability to achieve efficient delivery of siRNAs into Chinese hamster ovary (CHO) cells grown in one liter suspension culture and to achieve potent silencing of CHO host gene targets involved in both cellular apoptotic and metabolic pathways.
07:27
MWV MeadWestvaco beats by $0.11, misses on revs (27.25 )
Reports Q1 (Mar) earnings of $0.11 per share, excluding $0.03 in non-recurring gains, $0.11 better than the Thomson Reuters consensus of ($0.00); revenues rose 3.5% year/year to $1.4 bln vs the $1.45 bln consensus. The company is seeing improving demand trends in its targeted markets and products. Overall visibility beyond the second quarter, however, remains limited. The resiliency and pace of demand trends beyond the second quarter remains uncertain given continued economic challenges in the U.S., including high unemployment rates, stagnant wages and a weak housing market. The company continues to benefit from its market participation strategies focused on higher growth markets and differentiated products and its strong and growing positions in emerging markets. In addition, the company expects continued momentum from its transformation strategies and ongoing cost reductions to continue to be a significant driver of improved year-over-year performance in the second quarter of 2010.
07:18
RCI Rogers Comms reports Q1 EPS of CDN$0.69 vs CDN$0.57 Thomson Reuters consensus; revs CDN$2.89 bln vs CDN$2.89 bln Thomson Reuters consensus (35.08 )
"Our first quarter results reflect continued top line growth combined with good traction on cost controls. We delivered double-digit adjusted operating profit growth, margin expansion at all three segments, and a 27% increase in free cash flow," said Nadir Mohamed, President and Chief Executive Officer of Rogers Communications. "Our focus on wireless data and attracting and retaining higher value customers continues to pay dividends, while the improved results in our Media division reflect the actions we took in 2009 to improve our ratings and cost structure. Across the board we are off to a solid start in 2010." "At this point in the year we have no specific revisions to the 2010 annual financial and operating guidance ranges which we provided on February 17, 2010."
07:17
OC Owens Corning beats by $0.27, beats on revs; FY10 EPS could be as high at $2.00 vs the $.54 consensus (29.80 )
Reports Q1 (Mar) earnings of $0.42 per share, excluding non-recurring items, $0.27 better than the Thomson Reuters consensus of $0.15; revenues rose 17.8% year/year to $1.26 bln vs the $1.03 bln consensus. The Composites segment increased profits in the first quarter, demonstrating strong operating leverage. In the Roofing business, the strong momentum continued into the first quarter of 2010 with an increase in earnings before interest and taxes (EBIT) of nearly one-third over the same period a year ago. The Insulation business performed as expected, narrowing its losses despite continued weakness in the U.S. housing market. Based on continued strong margins in the Roofing business and improved results for the Composites segment, OC expects that the co's 2010 adjusted EBIT could be as high as $450 million, which equates to an adjusted earnings per share of about $2.00 (consensus is $1.54). In the Composites segment, the co believes that overall demand will continue to trend upward as global industrial activity improves. The rate of market recovery remains uncertain. The co expects to increase production to meet improved market demand, which will result in higher capacity utilization during the year as compared to 2009. Additionally, the Composites segment will continue to realize the benefit of various cost-reduction actions and prior price increases. The co expects strong momentum to continue in the Roofing business, as actions taken to increase margins in 2008 and 2009 will drive profitability in 2010. Owens Corning believes that margins in excess of 20 percent will be achieved in 2010. The co estimates that the Insulation business will narrow its losses in 2010, despite continued U.S. residential construction market weakness.
07:16
WYN Wyndham Worldwide beats by $0.04, beats on revs; guides Q2 EPS above consensus; increases FY10 guidance ranges (26.63 )
Reports Q1 (Mar) earnings of $0.34 per share, $0.04 better than the Thomson Reuters consensus of $0.30. Co issues upside guidance for Q2, sees EPS of $0.38-$0.42 vs. $0.37 Thomson Reuters consensus. Co raises its guidance ranges for FY10, now sees EPS of $1.56-$1.71 (vs. $1.60 Thomson Reuters consensus), up from the previous range of $1.48-$1.69; now sees FY10 revs of $3.6-$3.9 bln (vs. $3.66 bln Thomson Reuters consensus), up from $3.5-$3.9 bln.
07:13
EQT EQT Corp. beats by $0.08, beats on revs (43.78 )
Reports Q1 (Mar) earnings of $0.65 per share, $0.08 better than the Thomson Reuters consensus of $0.57; revenues rose 23.9% year/year to $322.7 mln vs the $308.4 mln consensus.
07:13
NMM Navios Maritime Partners reports Q1 EPS of $0.39 vs $0.36 Thomson Reuters consensus; revs $29.4 mln vs $28.61 mln Thomson Reuters consensus (19.75 )
"I am pleased with our performance during the first quarter we engaged in a number of transactions that created stability of Navios Partners by raising additional equity, adding vessels and reducing leverage. With the $62.4 million we raised in the equity markets, we purchased the Navios Aurora II, thereby increasing the average charter coverage to 4.1 years and reducing the average age of our fleet to 6.2 years. By consistently implementing our strategy, we have been able to steadily increase quarterly distributions by a total of 18.6% since we went public about 2.5 years ago."
07:10
WTFC Wintrust Fin beats by $0.15, beats on revs (39.44 )
Reports Q1 (Mar) earnings of $0.41 per share, $0.15 better than the Thomson Reuters consensus of $0.26; revenues fell 19.5% year/year to $138.5 mln vs the $128.5 mln consensus. The provision for credit losses totaled $29.0 million for the first quarter of 2010 compared to $38.6 million for the fourth quarter of 2009 and $14.5 million in the first quarter of 2009. Net charge-offs for the first quarter of 2010 totaled 119 bps on an annualized basis compared to 161 bps on an annualized basis in the fourth quarter of 2009 and 51 basis points on an annualized basis in the first quarter of 2009.
07:10
LL Lumber Liquidators beats by $0.02, beats on revs; raises FY10 EPS and rev guidance (30.60 )
Reports Q1 (Mar) earnings of $0.25 per share, $0.02 better than the Thomson Reuters consensus of $0.23; revenues rose 22.0% year/year to $151.2 mln vs the $146.5 mln consensus. Co raises guidance for FY10, sees EPS of $1.13-1.23 vs. $1.17 Thomson Reuters consensus, up from $1.10-1.20 previously; sees FY10 revs of $630-650 mln vs. $633.04 mln Thomson Reuters consensus, up from $620-645 mln. Co continues to expect comparable store net sales for the year to increase in the low to mid-single digits. Comparable store net sales for the first quarter of 2010 increased 8.0%, as strong consumer demand drove sales volume. Gross margin was 35.4% for the first quarter of 2010, a decrease from 36.0% in the first quarter of 2009. Gross margin was adversely impacted by certain shifts in sales mix, increased product costs, including domestic transportation and finishing costs, and selected promotional pricing designed to generate incremental consumer traffic.
07:09
JNY Jones Apparel beats by $0.13, beats on revs (22.68 )
Reports Q1 (Mar) earnings of $0.47 per share, $0.13 better than the Thomson Reuters consensus of $0.34; revenues fell 0.4% year/year to $887 mln vs the $866.1 mln consensus. Gross profit margin increased 390 basis points to 36.8%, reflecting continued careful inventory management. "We are very pleased with the results we achieved in the first quarter and the positioning and performance of our core brands. Sales for the first quarter exceeded expectations and operating margins increased in all segments compared with the prior year's quarter. Jeanswear margins were exceptionally strong, which is reflective of the group's execution and aggressive inventory management. Better Apparel and Footwear and Accessories were also strong performers, driven by higher gross margins. Our vertical retail operations results are much improved. We closed 63 retail locations this quarter and ended the quarter with 877 locations and are on track to close an additional 110 unprofitable locations by the end of 2010."
07:08
On The Wires
World Energy Solutions (XWES) announced it has helped United Natural Foods (UNFI) procure over 25 million kWh of electricity and renewable energy for its distribution centers in Connecticut, Massachusetts, New Hampshire and Pennsylvania... FiberTower Corporation (FTWR) completed its interconnection to DSCI Corporation, Inc. and has begun delivering wireless Ethernet service to select DSCI enterprise accounts... Targeted Genetics Corporation (Pink Sheets:TGEN) announced that its licensing partner, Celladon Corporation, has reported today that Celladon's first Phase II trial with MYDICAR for the treatment of advanced heart failure has met its primary safety and efficacy endpoints, as prospectively defined in the Phase II trial protocol.
07:08
PFCB PF Chang's misses by $0.10, reports revs in-line; reaffirms FY10 EPS guidance; announces cash dividend of $0.17/share (46.43 )
Reports Q1 (Mar) earnings of $0.38 per share, $0.10 worse than the Thomson Reuters consensus of $0.48; revenues rose 0.2% year/year to $310.4 mln vs the $310.1 mln consensus. Co reaffirms guidance for FY10, sees EPS of approx $2.00 vs. $2.03 Thomson Reuters consensus. The co continues to anticipate that fiscal 2010 consolidated revenues will be flat compared to fiscal 2009, including expectations of slightly higher average weekly sales at Pei Wei and slightly lower average weekly sales at the Bistro. The co intends to prospectively bolster its average ticket at the Bistro through fewer sales discounts and a slight increase to menu prices. Consequently, the co continues to expect fiscal 2010 restaurant operating margins to be consistent with fiscal 2009. The Company expects to open four new Bistro restaurants and three new Pei Wei restaurants during fiscal 2010. The co also plans to fully repay its outstanding credit line borrowings of $40 million and repurchase approximately $40 million in common shares under its current share repurchase authorization during fiscal 2010. The co's Board of Directors has authorized a cash dividend payment of $0.17 per share on the co's outstanding common stock.
07:08
ODFL Old Dominion reports Q1 (Mar) results, revs in-line (37.50 )
Reports Q1 (Mar) earnings of $0.21 per share, may not be comparable to the Thomson Reuters consensus of $0.17; revenues rose 7.7% year/year to $317.8 mln vs the $314.8 mln consensus. The Q1 results reflect a reduction in depreciation expense that was a result of changes to the estimated useful lives and salvage values primarily for the tractor and trailer fleet. Effective January 1, 2010, the estimated useful life for most of the tractors was extended to nine years from seven years, and the estimated useful life for most of its trailers was extended to 15 years from 12 years. As a result of the impact on depreciation from these changes, net income in the first quarter increased by ~$1.3 million, or $0.03 per diluted share, and the operating ratio was reduced by 66 basis points. Co expects an increase to net income in 2010 of ~$7.6 million resulting from these changes.
07:07
BCRX BioCryst Pharm beats by $0.10, beats on revs (7.03 )
Reports Q1 (Mar) loss of $0.06 per share, $0.10 better than the Thomson Reuters consensus of ($0.16); revenues rose 497.9% year/year to $26.1 mln vs the $19.6 mln consensus. The $21.7 million increase in revenue was driven primarily by the recognition of a $7.0 million milestone payment from the co's partner, Shionogi & Co., Ltd., related to its achievement in obtaining marketing and manufacturing approval of intravenous peramivir in Japan, a $7.0 million increase in revenue from the contract with the Department of Health & Human Services for the continued development of i.v. peramivir as compared to last year, as well as the sale of $6.4 million of peramivir active pharmaceutical ingredient to collaborators Shionogi and Green Cross Corp. In accordance with the license agreement with Shionogi, BioCryst also recorded revenue from royalties of $0.7 million related to Shionogi's sales of RAPIACTA in Japan during the first quarter of 2010.
07:06
DSPG DSP Group beats by $0.05, beats on revs (78.75 )
Reports Q1 (Mar) earnings of $0.11 per share, $0.05 better than the Thomson Reuters consensus of $0.06; revenues rose 40.6% year/year to $56.1 mln vs the $54.1 mln consensus. "We continue to improve our financial performance, and feel optimistic about our business outlook. Our first quarter financial results exceeded the higher end of our guidance range as better than expected revenues and lower non-GAAP operating expenses contributed to higher non-GAAP operating income. On the product side, we passed another milestone event by commencing commercial shipments of our XpandR multimedia platform, and anticipate the launch of additional XpandR-based products this year by leading consumer electronic brands."
07:05
ABD ACCO Brands beats by $0.02, beats on revs (9.15 )
Reports Q1 (Mar) earnings of $0.03 per share, $0.02 better than the Thomson Reuters consensus of $0.01; revenues rose 5.9% year/year to $310.8 mln vs the $296.2 mln consensus. The company continues to expect sales to be flat to slightly higher driven by share gains, which are expected to offset continued weak consumer and business spending. Based on today's exchange rates, foreign currency should further increase sales. The company continues to expect to expand adjusted EBITDA margins by three-quarters to a full percentage point due to an improvement in gross profit margin, which will be partially offset by an increase in selling, general and administrative expenses. Targeted free cash flow, after interest, taxes and capital expenditures, is still expected to be approximately $50-60 million.
07:03
GLW Corning beats by $0.10, beats on revs; raises expectations for annual growth of LCD market (20.12 )
Reports Q1 (Mar) earnings of $0.52 per share, $0.10 better than the Thomson Reuters consensus of $0.42; revenues rose 57.0% year/year to $1.55 bln vs the $1.52 bln consensus. Flaws said higher-than-expected retail demand for LCD televisions, laptops, and desktop computers in quarter one, along with an improved outlook for these consumer electronic products through the remainder of the year, "have led us to increase our expectations for the annual growth of the LCD glass market. We now forecast a range of 2.9 billion square feet to 3.1 billion square feet of glass this year, up from our original expectation of 2.8 billion to 3.0 billion square feet." This represents a year-over-year growth rate of 18% to 27%. In its Display Technologies segment, Corning expects second-quarter volume will increase in the mid-single digits for both its wholly owned business and SCP. Glass price declines in the quarter should be similar to the first quarter. The co said it plans on running all available capacity by the end of quarter two to meet panel maker demand. "Our first quarter was outstanding, driven by excellent results across nearly all of our major business units. We were particularly pleased with the performance in Display Technologies where we were essentially sold out. We are also encouraged by the growing market demand for Corning Gorilla glass for handheld and other electronic devices." Gross margin improved significantly to 47% from 42% in the previous quarter, and over last year's first quarter of 27%.
07:03
S Sprint Nextel reports EPS in-line, revs in-line (4.09 )
Reports Q1 (Mar) loss of $0.17 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of ($0.17); revenues fell 1.5% year/year to $8.09 bln vs the $8.05 bln consensus. Sprint lost a total of 75,000 net subscribers in the quarter. Driven by the best year-over-year improvement in post-paid gross subscriber additions and the highest prepaid gross subscriber additions in five years, the co achieved the best total company net subscriber results since 3Q07. Net post-paid subscriber losses improved year-over-year as the co lost 670,000 fewer subscribers than in the 1Q09.
07:03
CMCSA Comcast beats by $0.01, reports revs in-line (18.46 )
Reports Q1 (Mar) earnings of $0.31 per share, $0.01 better than the Thomson Reuters consensus of $0.30; revenues rose 9.8% year/year to $9.2 bln vs the $9.15 bln consensus.
07:03
ROK Rockwell Automation beats by $0.26, beats on revs; rasies FY10 EPS and revs guidance above consensus (61.27 )
Reports Q2 (Mar) earnings of $0.77 per share, excluding items, $0.26 better than the Thomson Reuters consensus of $0.51; revenues rose 10.1% year/year to $1.16 bln vs the $1.1 bln consensus. Co raises guidance for FY10, sees EPS of $2.60-2.90, up from $2.00-2.40, vs. $2.38 Thomson Reuters consensus; sees FY10 revs of $4.65-4.8 bln, up from $4.4-4.6 bln, vs. $4.55 bln Thomson Reuters consensus. "Given our second quarter performance and the ongoing global economic recovery, we are confident that we will return to solid organic growth for full fiscal year 2010. In the second half of the year we will increase our spending on customer-facing resources in our highest growth markets and innovation in our product, services and solutions offerings. Based on this outlook, we are raising our full-year fiscal 2010 guidance."
07:01
CHGS China GengSheng Minerals wins two fracture proppant export contracts valued at approximately $3.6 mln (2.66 )
06:47
BCRX BioCryst Pharm reports positive results from part one of its phase 2a study of BCX4208 in patients with Gout (7.03 )
Co announces positive top-line results from a planned interim analysis of its ongoing Phase 2a, randomized, double-blind, placebo-controlled study to evaluate the efficacy and safety of orally administered BCX4208 in patients with gout. The study's primary endpoint is the change in serum uric acid concentration after 21 days of treatment compared to baseline concentration prior to treatment. Part one of the study randomized 60 gout patients with serum uric acid concentrations greater than or equal to 8 mg/dL to placebo or to one of three different doses of BCX4208, a purine nucleoside phosphorylase (PNP) inhibitor, administered once-daily for 21 days. All three doses of BCX4208 demonstrated a statistically significant reduction in serum uric acid levels compared to placebo at day 22. BCX4208 doses of 40 mg, 80 mg and 120 mg per day showed median reductions in serum uric acid levels of 2.7, 3.3 and 3.4 mg/dL, respectively.
06:43
S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: +4.50.
06:43
Asian Markets
Nikkei...10924.79...-287.90...-2.60%. Hang Seng...20949.40...-312.40...-1.50%.
06:43
European Markets
FTSE...5570.04...-33.40...-0.60%. DAX...6066.00...-93.30...-1.50%.
06:41
GIB CGI Group beats by $0.01, misses on revs (14.70 )
Reports Q2 (Mar) earnings of CDN$0.28 per share, CDN$0.01 better than the Thomson Reuters consensus of CDN$0.27; revenues fell 4.0% year/year to CDN$910.4 mln vs the CDN$923.7 mln consensus.
06:36
DEST Destination Maternity reports 2Q10 results; raises FY10 EPS guidance (31.01 )
Reports 2Q10 adjusted EPS of $0.61 vs prior non-GAAP EPS guidance of $0.33-0.45 and last year non-GAAP EPS of $0.30. Revenue was flat at $131.13 mln. Co projects FY10 non-GAAP adjusted EPS of $2.93-3.28 vs prior non-GAAP adjusted EPS guidance of $2.74-3.09 and FY09 adjusted EPS of $1.98. FY10 outlook: Co estimates net sales in the $534.0 to $543.5 million range, representing an increase in sales of between 0.5% and 2.3% vs FY09 net sales of $531.3 million. Co sees comparable store sales decrease of between 3.0% and 4.7%. Gross margin for FY10 is expected to increase vs FY09. Briefing.com note: No Thomson-Reuters estimates are available.
06:36
MHS Medco Health Solutions beats by $0.01, beats on revs; reaffirms FY10 EPS guidance (63.02 )
Reports Q1 (Mar) earnings of $0.73 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.72; revenues rose 10.0% year/year to $16.31 bln vs the $15.95 bln consensus -- primarily as a result of contributions from significant new client wins and higher prices charged by brand-name pharmaceutical manufacturers, partially offset by higher volumes of lower-priced generic drugs. Medco's generic dispensing rate increased 2.9 percentage points from first-quarter 2009 to a record 69.7 percent. The mail-order generic dispensing rate increased 2.1 percentage points to a record 59.3 percent and the retail generic dispensing rate increased 2.9 percentage points to a record 71.4 percent. Higher volumes of lower-priced generic drugs reduced net revenues for first-quarter 2010 by approximately $690 million, delivering significant savings to clients and members. Total gross margin for first-quarter 2010 increased 5.1 percent over first-quarter 2009, to $992.7 million. Co reaffirms guidance for FY10, sees EPS of $3.28-3.38, excluding non-recurring items, vs. $3.36 Thomson Reuters consensus.
06:33
DOW Dow Chemical beats by $0.13, beats on revs (30.07 )
Reports Q1 (Mar) earnings of $0.43 per share, excluding non-recurring items, $0.13 better than the Thomson Reuters consensus of $0.30; revenues rose 48.4% year/year to $13.42 bln vs the $12.93 bln consensus. Top-line growth was driven by a 16 percent increase in volume and a 17 percent increase in price. Sales increased in all geographic areas with increases ranging from 26 percent (Latin America) to 51 percent (Asia Pacific). Double-digit volume increases were reported in all geographic areas and in all operating segments versus the first quarter of 2009, except Basic Plastics and Health and Agricultural Sciences. The combined Performance Segments achieved a 26 percent increase in volume year-over-year, excluding Health and Agricultural Sciences, which was down from the record sales volumes of the first quarter 2009. "Our double-digit volume improvements in North America and Europe are positive signs that demand growth is returning to developed markets. Strengthening consumer spending in areas such as electronics, appliances and automotive, combined with strong growth in emerging geographies, are driving broad-based manufacturing momentum. This, coupled with our global operating rates returning to levels not seen since the second quarter of 2008, points increasingly to a sustainable upturn. "Some challenges remain in areas such as residential and commercial construction in developed economies, inflation concerns in high-growth emerging countries plus sovereign debt issues in southern Europe. However, consumer and business spending has balanced out these challenges. Overall the global economic environment is on a stronger footing and there are signs that this will continue for the foreseeable future. This is good news for Dow."
06:28
HYGS Hydrogenics announces settlement with American Power Conversion Corporation (4.66 )
Co announces that the Company has reached a settlement with American Power Conversion Corporation regarding the litigation previously announced in a press release dated November 17, 2009. Under terms of the settlement, APC has paid Hydrogenics $1,200,000, and both parties have terminated all pending claims with regard to this matter.
06:26
DTG Dollar Thrifty beats by $0.46, misses on revs; reaffirms FY10 revs guidance (42.32 )
Reports Q1 (Mar) earnings of $0.76 per share, $0.46 better than the Thomson Reuters consensus of $0.30; revenues fell 3.9% year/year to $348.3 mln vs the $361.1 mln consensus. Co reaffirms guidance for FY10, sees FY10 revs growth of 2 - 4 percent compared to the 2009 level which calculates to ~$1.576-1.607 bln vs. $1.61 bln Thomson Reuters consensus. Co says "Improvement in the overall economy, combined with ongoing recovery in consumer confidence and spending levels is expected to result in low single-digit growth in rental days in 2010. The Company believes that customer demand for its value-oriented leisure brands will result in moderate increases in revenue per day on a year-over-year basis. Lastly, based on current facts and circumstances, the Company now projects Corporate Adjusted EBITDA for the full year of 2010 to be within a range of $170 million to $190 million, an increase of approximately 70 - 90 percent from the 2009 level. (Briefing.com note: Hertz Global Holdings (HTZ) and Dollar Thrifty announced on April 26th that they signed a definitive agreement providing for Hertz to acquire Dollar Thrifty for a purchase price of $41/share)
06:24
WLP WellPoint beats by $0.28, reports revs in-line; provides FY10 EPS guidance; sees FY10 revs in-line (55.92 )
Reports Q1 (Mar) earnings of $1.95 per share, excluding non-recurring items, $0.28 better than the Thomson Reuters consensus of $1.67; revenues fell 2.8% year/year to $14.87 bln vs the $14.72 bln consensus. Co issues guidance for FY10, sees EPS of at least $5.99, excluding non-recurring items, vs. $6.14 Thomson Reuters consensus; sees FY10 revs of $58.5 bln vs. $58.84 bln Thomson Reuters consensus. Medical enrollment was 33.8 million members at March 31, 2010, a decrease of 724,000 members, or 2.1%, from approx 34.6 million at March 31, 2009. Most of the decline occurred in the non-Blue business, which experienced a reduction of 548,000 members and included the transfer of the Company's UniCare individual and group business in Texas and Illinois to another Blue Cross & Blue Shield carrier at the beginning of 2010. Medical membership increased by 165,000, or 0.5%, during the first quarter of 2010. This was driven by market share gains of 536,000 in National Accounts and BlueCard business, an increase of 56,000 in the Federal Employees Program and growth of 37,000 members in the Senior business. The growth was partially offset by a decline of 360,000 in non-Blue enrollment due to the transfer of business in Texas and Illinois, and continued economically-related attrition in the Blue-branded Local Group and Individual businesses. Outlook: Year-end medical enrollment is now expected to be approx 33.1 million members. The benefit expense ratio is expected to be approximately 84.3%.
06:18
SPNC Spectranetics reports EPS in-line, misses on revs; reiterates FY10 outlook (7.09 )
Reports Q1 (Mar) loss of $0.03 per share, in-line with the Thomson Reuters consensus of ($0.03); revenues rose 6.2% year/year to $29 mln vs the $29.4 mln consensus. The Company reiterates its outlook for 2010 full year performance. The co continues to expect revenue growth during 2010 in both the Vascular Intervention and Lead Management business units and expects higher growth rates internationally than in the United States. Excluding any impact of the Turbo-Tandem product launch, the Vascular Intervention revenue growth rate is anticipated to be in the low to mid-single digits during 2010 as compared with 2009. Including the impact of the Turbo-Tandem product launch, the Vascular Intervention revenue growth rate is anticipated to be in the high single digits to low-teens. The Lead Management revenue growth rate in 2010 as compared with 2009 is anticipated to be in the mid-teens. Laser equipment revenue and service and other revenue are expected to grow in the low to mid-single digits during 2010 as compared with 2009. Gross margin is expected to be in the range of 71% to 72% for the year ended December 31, 2010.
06:17
HST Host Hotels misses by $0.01, misses on revs; guides FY10 FFO in-line (16.17 )
Reports Q1 (Mar) funds from operations of $0.09 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of $0.10; revenues fell 4.7% year/year to $823 mln vs the $862.8 mln consensus. Co issues in-line guidance for FY10, sees FFO of $0.58-0.65 vs. $0.61 Thomson Reuters consensus. Co estimates RevPAR will increase 1.0% to 4.0% in FY10. Operating profit margins under GAAP would increase approx 100 bps to 220 bps. Co estimates adjusted EBITDA in FY10 of approx $750.0-800.0 mln. Operating results for the first quarter of 2010 were affected by costs associated with the repayment of debt and an additional accrual for the potential litigation loss related to the San Antonio Marriott Rivercenter. Operating results for the first quarter 2009 were affected by a gain on the disposition of one hotel, as well as non-cash impairment charges. The net effect of these items on loss per diluted share was a decrease in earnings of $11 million, or $.01 per diluted share, for the first quarter of 2010 and a decrease in earnings of $21 million, or $.04 per diluted share, for the first quarter of 2009.
06:15
RGS Regis beats by $0.05, reports revs in-line (19.77 )
Reports Q3 (Mar) earnings of $0.37 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.32; revenues fell 2.6% year/year to $588 mln vs the $589.4 mln consensus. "I would like to provide some insight into our current internal fiscal 2010 and 2011 expectations. For fiscal 2010, we now believe EBITDA should approximate $250 mln (consensus $259 mln). With a slow economic recovery, we expect a continued, gradual improvement in customer visitation trends throughout fiscal 2011. As a result, we believe same-store sales could be in the range of negative one percent to positive two percent. At these same-store sales levels, and before any investment to reinvigorate the Regis salon division, EBITDA should be in a range of $235 mln to $270 mln (consensus $282.7 mln). Our growth plans remain modest, and, consistent with fiscal year 2010 levels, we plan to build 160 new salon locations. We expect to spend ~$95 mln for salon and corporate capital expenditures and ~$25 mln for acquisitions. The 2011 capital expenditure budget incorporates ~$80 mln for maintenance, including an incremental $15 mln related to several new technology enhancements, including an upgrade to our current salon point-of-sale system. Finally, we plan to generate excess cash of approximately $55 mln to $80 mln during fiscal 2011."
06:12
TEL Tyco Electronics beats by $0.12, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY10 EPS above consensus, revs above consensus (29.20 )
Reports Q2 (Mar) earnings of $0.64 per share, excluding non-recurring items, $0.12 better than the Thomson Reuters consensus of $0.52; revenues rose 26.5% year/year to $2.96 bln vs the $2.93 bln consensus. Co issues upside guidance for Q3, sees EPS of $0.61-0.65, excluding non-recurring items, vs. $0.53 Thomson Reuters consensus; sees Q3 revs of $3.0-3.1 bln vs. $2.96 bln Thomson Reuters consensus. Co issues upside guidance for FY10, sees EPS of $2.32-2.40, excluding non-recurring items, vs. $2.04 Thomson Reuters consensus; sees FY10 revs of $11.8-12.0 bln vs. $11.72 bln Thomson Reuters consensus.
06:09
BRY Berry Petroleum beats by $0.04, beats on revs (31.98 )
Reports Q1 (Mar) earnings of $0.38 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.34; revenues rose 13.3% year/year to $167.8 mln vs the $155.7 mln consensus. Production for the first quarter of 2010 was 29,391 BOE/D, supported by a 500 BOE/D increase in crude oil volumes. Co expects total average production for 2010 to be between 32,250 BOE/D and 33,000 BOE/D with increases throughout the balance of the year coming from capital program and from the integration of Permian basin assets.
06:08
TMO Thermo Fisher beats by $0.09, beats on revs; raises FY10 EPS, raises lower end of FY10 rev guidance (53.68 )
Reports Q1 (Mar) earnings of $0.84 per share, excluding non-recurring items, $0.09 better than the Thomson Reuters consensus of $0.75; revenues rose 18.6% year/year to $2.67 bln vs the $2.51 bln consensus. Co raises guidance for FY10, sees EPS of $3.40-3.50, excluding non-recurring items, vs. $3.41 Thomson Reuters consensus; sees FY10 revs of $10.65-10.80 bln vs. $10.74 bln Thomson Reuters consensus. Q1 adjusted operating margin increased 200 basis points to 17.5%, compared with 15.5% in the 2009 period. "We had solid double-digit revenue growth in both of our reporting segments, as well as in North American and Asian markets. It's clear that we have emerged from the recession a stronger industry leader as a result of the actions we took in 2009."
06:05
PX Praxair reports EPS in-line, revs in-line; guides Q2 EPS in-line; guides FY10 EPS in-line, revs in-line (86.41 )
Reports Q1 (Mar) earnings of $1.09 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $1.09; revenues rose 14.4% year/year to $2.43 bln vs the $2.43 bln consensus. Co issues in-line guidance for Q2, sees EPS of $1.10-1.15 vs. $1.14 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $4.50-4.65, excluding non-recurring items, vs. $4.64 Thomson Reuters consensus; sees FY10 revs of $10.0 bln vs. $10.1 bln Thomson Reuters consensus. Sales growth in the quarter came primarily from higher overall volumes in all geographic regions and foreign currency appreciation. Volume growth was broad-based across most end-markets. Chemicals, metals and electronics showed the strongest pick-up, while growth in manufacturing is lagging. Similarly, adjusted operating profit in the first quarter of $506 million grew 14% from the prior-year quarter.
05:20
HMC Honda Motor reports 4Q10 results (34.58 )
Co's consolidated net income attributable to Honda Motor Co., Ltd. for 4Q10 amounted to JPY 72.1 billion ($776.0 mln), an increase of JPY 252.1 billion from the same period in 2009. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 39.78 ($0.43), an increase of JPY 138.95 from the corresponding period last year. Honda's consolidated net income attributable to Honda Motor Co., Ltd. for FY10 totaled JPY 268.4 billion ($2,885 mln), an increase of 95.9% from the previous fiscal year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the period amounted to JPY 147.91 ($1.59), an increase of JPY 72.41 from the previous fiscal year. Co estimates FY11 net sales of 9,340 bln yen, an 8.9% increase from FY10. Co estimates net income attributable to Honda Motor of 340.0 bln yen, an increase of 26.7% from FY10. Co estimates 187.7 yen/share in FY11.
05:13
CEO CNOOC Ltd reports 1Q10 results (171.74 )
Co reports a total net production of 67.3 million barrels of oil equivalent, representing an increase of 31.9% year-on-year. Total unaudited revenue increased 118.5% to RMB30.49 billion. In the first quarter of 2010, the co produced 55.0 million barrels of crude oil and liquids, an increase of 30.4% year/year, and 71.6 billion cubic feet of natural gas, up 41.4% year/year. The production growth was mainly attributable to the production from projects that came on stream in 2008 and 2009 and performance of existing oil and gas fields.
05:11
NSTC Ness Tech beats by $0.02, misses on revs; reaffirms FY10 EPS above consensus, revs above consensus (6.97 )
Reports Q1 (Mar) earnings of $0.09 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.07; revenues rose 5.6% year/year to $133.3 mln vs the $135.7 mln consensus. Co reaffirms upside guidance for FY10, sees EPS of $0.43-0.47, excluding non-recurring items, vs. $0.40 Thomson Reuters consensus; sees FY10 revs of $575.0-585.0 mln vs. $569.81 mln Thomson Reuters consensus.
05:06
NDAQ NASDAQ OMX to close its pan-European equity MTF NASDAQ OMX Europe (21.77 )
Co reports that it has decided to close its pan-European multilateral trading facility operated by NASDAQ OMX Europe. The announcement was made following an assessment of the financial prospects of the NEURO business.
04:52
ALLT Allot Comms names Nachum Falek as new CFO (5.83 )
04:51
SII Smith Intl beats by $0.02, beats on revs (47.27 )
Reports Q1 (Mar) earnings of $0.19 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.17; revenues fell 11.3% year/year to $2.14 bln vs the $2.09 bln consensus. Increased drilling activity in the North American market was the primary driver of results and was broad-based, resulting in revenue increases in nearly all of the co's lines of business. Smith's oilfield-related businesses contributed a 22% sequential improvement in North America revenue. M-I SWACO gained 23% while Smith Oilfield improved by 21% sequentially. Driving the quarterly revenue gains in Smith Oilfield segment were drill bits and motors, as well as higher revenue from the cased-hole wireline and borehole enlargement services. The Distribution segment contributed significantly to the sequential improvement in both revenue and operating income as it continues to experience higher volume in its energy sector operations and better margins in part reflecting more favorable LIFO inventory cost impact. Consolidated revenue increased $154.0 million, or 8 percent, from 4Q09, while the M-I SWACO worldwide rig count increased by 10%. Nearly all of the sequential revenue increase was generated in North America, influenced by a higher level of onshore drilling and completion activity. Outside of North America, revenue was in line with the December 2009 quarter compared to a 2% sequential increase in rig activity.
03:56
RDS.A Royal Dutch Shell beats by $0.28 (61.07 )
Reports Q1 (Mar) adjusted CCS earnings of $1.57 per ADS, $0.28 better than the Thomson Reuters consensus of $1.29. Net profit was $5.48 billion, up 57% from $3.49 billion, in 1Q09. Revenues were $86.0 billion vs $52.2 billion in 1Q09. Oil production increased from 1Q09 to 3.59 mln barrels of oil per day. Production earnings were $4.42 bln. At refining, earnings increased 11% to $1.33 bln.
03:12
NUS Nu Skin beats by $0.06, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY10 EPS above consensus, revs above consensus (32.46 )
Reports Q1 (Mar) earnings of $0.48 per share, $0.06 better than the Thomson Reuters consensus of $0.42; revenues rose 22.9% year/year to $364.1 mln vs the $342.1 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.44-0.46 vs. $0.42 Thomson Reuters consensus; sees Q2 revs of $362.0-370.0 mln vs. $352.06 mln Thomson Reuters consensus. Co issues upside guidance for FY10, sees EPS of $1.80-1.88 vs. $1.78 Thomson Reuters consensus; sees FY10 revs of $1.44-1.46 bln vs. $1.43 bln Thomson Reuters consensus.
02:36
CKSW ClickSoftware beats by $0.02; beats on revenue; reaffirms FY10 revenue guidance (6.88 )
Reports 1Q (Mar) earnings of $0.11 per share, excludes items, $0.02 better than the Thomson-Reuters consensus of $0.09; revenue increased 35% year/year to $17.5 mln vs 16.24% consensus. Co reaffirms in-line guidance for FY10; sees revenue of $71.5-74.5 mln vs $72.67 mln Thomson-Reuters consensus.
02:23
UMC United Micro misses by $0.01, misses on revs (3.70 )
Reports Q1 (Mar) earnings of $0.04 per ADS, $0.01 worse than the Thomson Reuters consensus of $0.05; revenues rose 162.4% year/year to $842 mln vs the $870.4 mln consensus. Co reports gross margin of 24.6% and operating margin of 12.7%.
02:15
AUDC Audiocodes beats by $0.02, beats on revs (4.13 )
Reports Q1 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.04; revenues rose 18.8% year/year to $34.8 mln vs the $33.6 mln consensus.
02:14
SAP SAP AG reports EPS in-line, misses on revs (48.55 )
Reports Q1 (Mar) earnings of EUR 0.37 per share, excluding aquisition related expenses and stock-based compensation charges, in-line with the Thomson Reuters consensus of EUR 0.37; revenues rose 6.4% year/year to EUR 2.51 bln vs the EUR 2.55 bln consensus. Co expects FY10 non-IFRS software and software-related service revenue to increase in a range of 4% to 8% at constant currencies (2009: EUR 8.2 billion). Co expects FY10 non-IFRS operating margin to be in a range of 30% to 31% at constant currencies (2009: 27.4%).
01:56
WDC Western Digital to acquire Hoya's magnetic media operations (42.80 )
Co announces that it has agreed to purchase the magnetic media sputtering operations of Hoya Corporation and Hoya Magnetics Singapore Pte. Ltd. for 22 bln yen (approx $235 mln) in an all-cash transaction. The agreement includes a multi-year commitment for glass substrate supply related to these operations from Hoya. WDC is acquiring the facilities, equipment, intellectual property and working capital of Hoya's media sputtering operations, based in Tuas, Singapore, where it expects to employ the entire current workforce. Certain related equipment at Hoya's Nagasaka, Japan, research and development facilities is included. The acquisition is expected to close in the current calendar quarter.
01:54
EEFT Euronet reports EPS in-line, misses on revs; guides Q2 EPS below consensus (19.05 )
Reports Q1 (Mar) earnings of $0.32 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.32; revenues rose 7.0% year/year to $250 mln vs the $263.8 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.31 vs. $0.36 Thomson Reuters consensus. 2Q10 guidance reflects impact of the recently announced interchange rate change for Poland and assumes F/X raes remain stable through the end of the quarter.
01:51
JLL Jones Lang LaSalle beats by $0.28, beats on revs (79.04 )
Reports Q1 (Mar) earnings of $0.14 per share, excluding non-recurring items, $0.28 better than the Thomson Reuters consensus of ($0.14); revenues rose 17.5% year/year to $580.7 mln vs the $531.1 mln consensus.
01:46
UGI UGI Corp beats by $0.02; increases quarterly dividend to $0.25/share (27.09 )
Reports Q2 (Mar) earnings of $1.46 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $1.44. Co increases quarterly dividend 25% to $0.25/share. Co reiterates they will grow EPS at a a long term average rate of 6% to 10% per year and grow dividend at a rate of 4% per year.
01:37
JDAS JDA Software beats by $0.07, beats on revs (29.29 )
Reports Q1 (Mar) earnings of $0.38 per share, $0.07 better than the Thomson Reuters consensus of $0.31. Revenue increased 58% year/year to $131.6 mln vs $129.52 mln Thomson Reuters consensus.
01:34
GLF Gulfmark Offshore misses by $0.04, reports revs in-line (32.50 )
Reports Q1 (Mar) earnings of $0.25 per share, excluding non-recurring items, excludes tonage tax benefit, $0.04 worse than the Thomson Reuters consensus of $0.29; revenues rose 3.7% year/year to $84.7 mln vs the $85.2 mln consensus. Utilization in the Americas was 80% in the quarter, a 15% increase from the fourth quarter rate. Within the Americas, utilization in the Gulf of Mexico increased 19%, from 62% in the fourth quarter of 2009 to 81% in the first quarter of 2010. Quarterly utilization increased in the North Sea to just over 90%, but decreased in Southeast Asia to 83%.
01:17
FR First Ind. Rlty misses by $0.04, beats on revs; guides FY10 FFO in-line (8.44 )
Reports Q1 (Mar) funds from operations of $0.22 per share, excluding non-recurring items, $0.04 worse than the Thomson Reuters consensus of $0.26; revenues fell 19.4% year/year to $89.8 mln vs the $85.1 mln consensus. Co issues in-line guidance for FY10, sees FFO of $0.93-1.03, excluding non-recurring items, vs. $0.99 Thomson Reuters consensus.
01:11
On The Wires
Syngenta (SYT) announces that it has entered into a long-term multi-crop partnership with Embrapa, the Brazilian Agricultural Research Corporation, to advance solutions for Brazilian growers to improve crop quality and yield. The agreement will initially focus on opportunities in corn, cotton and soybean and will benefit Brazilian growers both large and small... CDC Software (CDCS) announces it has secured $30 million in new financing from Wells Fargo Capital Finance LLC, part of Wells Fargo & Company... Microsoft (MSFT) and HTC Corp. have signed a patent agreement that provides broad coverage under Microsoft's patent portfolio for HTC's mobile phones running the Android mobile platform. Under the terms of the agreement, Microsoft will receive royalties from HTC..
19:06
Futures are higher after hours with S&P 500 futures 0.59 points above fair value of 1180.21 and Nasdaq 100 futures 3.64 points above fair value of 2004.11
19:04
BXP Boston Prpts beats by $0.03, beats on revs; guides Q2 FFO below consensus; guides FY10 FFO in-line (78.12 -2.57)
Reports Q1 (Mar) funds from operations of $1.07 per share, $0.03 better than the Thomson Reuters consensus of $1.04; revenues rose 0.6% year/year to $379.8 mln vs the $365.4 mln consensus. Co issues downside guidance for Q2, sees FFO of $0.97-0.99 vs. $1.03 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees FFO of $4.06-4.16 vs. $4.16 Thomson Reuters consensus.
19:01
BAS Basic Energy Services misses by $0.02, beats on revs (10.26 -0.21)
Reports Q1 (Mar) loss of $0.54 per share, $0.02 worse than the Thomson Reuters consensus of ($0.52); revenues fell 7.6% year/year to $143 mln vs the $138.1 mln consensus. Co said, "In 2010, Basic continues to anticipate that to sustain its existing fleet, its minimum capital requirement will be approximately $35 million. Capital expenditures for expansion and other replacements will be made as the operating environment improves."
18:59
AINV Apollo Investment Corp prices public offering of common stock at $12.40 (12.40 -1.17) -Update-
Co announces that it has priced its public offering of 15.0 million shares of its common stock at an offering price of $12.40 per share, raising $186.0 million of gross proceeds. The Company has granted the underwriters an option to purchase up to an additional 2.25 million shares to cover over-allotments, if any.
18:30
COG Cabot Oil & Gas announces progress in Susquehanna County (37.55 -1.88)
Co provided an update on its efforts to comply with the Modified Consent Order, along with additional information regarding its business practices as they relate towards the environment, water resources and the citizens of Pennsylvania. A rig is on location preparing to commence the required plugging operations in accordance with the MCO and all the published requirements. Additional technical operations will be included, all of which have been presented to the Pennsylvania Department of Environmental Protection. We expect to make significant progress, if not being complete with the plugging of all three required wells by the end of next week. In terms of the permanent water solution requirements, the necessary equipment started arriving on April 26 and is ready for installation. This solution is designed to remove methane, a constituent of natural gas, from the water stream before it enters a home. We are committed to resolving this issue with a long-term solution."
18:24
RRC Range Resources beats by $0.02, misses on revs (48.93 -2.23)
Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.14; revenues rose 16.5% year/year to $236.8 mln vs the $246.1 mln consensus.
18:18
BKI Buckeye Tech reports EPS in-line, revs in-line (14.38 -0.51)
Reports Q3 (Mar) earnings of $0.28 per share, in-line with the Thomson Reuters consensus of $0.28; revenues rose 11.1% year/year to $190.7 mln vs the $189.7 mln consensus. Co said, "Average selling prices of our products are expected to improve further in the fourth quarter. Also, in the near term, operational reliability and procurement of cotton linters will be the keys to building on the current quarter's success."
18:07
CBE Cooper Industries appoints new Senior Vice President and Chief Financial Officer (49.40 -1.53)
Co announced the appointment of David A. Barta to the position of Senior Vice President and Chief Financial Officer, effective May 17, 2010. Barta will report to Chairman and Chief Executive Officer Kirk S. Hachigian. Barta is replacing Terry A. Klebe, who announced his intent to retire earlier this year. Klebe has been named Vice Chairman and will continue to report directly to the CEO, serving on the Tools Joint Venture Board and working on other special assignments.
17:58
MTW Manitowoc misses by $0.07, misses on revs (15.13 -0.83)
Reports Q1 (Mar) loss of $0.08 per share, excluding non-recurring items, $0.07 worse than the Thomson Reuters consensus of ($0.01); revenues fell 29.7% year/year to $721.9 mln vs the $808.7 mln consensus. Co reaffirms foodservice revenues guidance to improve modestly over 2009 results. Foodservice operating margins to continue their solid improvement over 2009 levels; Year-over-year declines in Crane segment revenues to be significantly lower than the decline experienced in 2009; Crane revenues in the first half of 2010 to be lower than the first half of 2009; Crane revenues in the second half of 2010 to be higher than the second half of 2009; and, Full year Crane operating margins to be above the 3.5 percent trough margins that were experienced in 2003.
17:53
NFX Newfield Expl beats by $0.08, misses on revs (55.69 -1.46)
Reports Q1 (Mar) earnings of $1.19 per share, excluding non-recurring items, $0.08 better than the Thomson Reuters consensus of $1.11; revenues rose 74.8% year/year to $458 mln vs the $545.3 mln consensus. NFX announced that the Co intends to allocate additional capital in 2010 to its ongoing oil activities in the Uinta and Williston Basins. Newfield now expects to invest ~$700 million in oil projects in 2010, or nearly 45% of its total budget. At current oil prices, NFX's growing crude oil volumes are expected to account for ~60% of 2010 revenues. As a result of the re-allocation in expenditures, the Company's 2010 domestic crude oil production is expected to increase throughout the remainder of 2010 and is expected to be at least 20% above 2009 domestic oil production. Spending reductions in planned gas development programs will offset these new oil investments. Newfield maintains its capital budget of $1.6 billion. For the full year 2010, Newfield expects that its production will be in the upper half of its previous production guidance of 278 - 288 Bcfe, representing an expected increase of at least 10% over 2009 volumes. An intentional reduction in natural gas volumes in the second half of 2010 should be more than offset by our growing crude oil volumes.
17:49
AIZ Assurant purchases $150 mln catastrophe reinsurance coverage through catastrophe bonds (33.79 -1.15)
Co announced that certain of its subsidiaries have entered into reinsurance agreements providing for $150 million in multi-year, fully collateralized reinsurance from Ibis Re Ltd. ("Ibis Re"), a special purpose reinsurance company domiciled in the Cayman Islands.
17:44
SEA Claymore announced that as a result of not having reached a shareholder quorum, it intends to close and liquidate the Claymore/Delta Global Shipping Index ETF (SEA) (15.87 -0.45)
17:37
RPT Ramco-Gershenson misses by $0.04; co issues downside FY10 FFO's guidance (12.56 -0.41)
Reports Q1 (Mar) funds from operations of $0.25 per share, $0.04 worse than the Thomson consensus of $0.29; revenues fell 3.3% year/year to $30.8 mln vs the $30.6 mln consensus. Co issues downside FY10 guidance; co sees FFO's of $1.04-1.12 vs. $1.19 consensus.
17:30
BHI Baker Hughes: Justice Department requires divestitures in Baker Hughes' merger with BJ Services (50.94 -2.94) -Update-
The Department of Justice announced that it has reached a settlement that will require Baker Hughes Inc. and BJ Services Company to divest two specially equipped vessels and other assets in order to proceed with their proposed merger. The department said that the transaction as originally proposed would combine two of only four companies that provide specialized pumping services, called stimulation services, necessary for the production of oil and gas from wells in the U.S. Gulf of Mexico. Without the divestitures, the department said the transaction would lead to higher prices and a reduction in service quality.
17:23
AKS AK Steel announces pricing of $400 mln underwritten public offering of its 7 5/8% senior notes due 2020 (17.43 -1.56)
17:21
SURG Synergetics USA enters into a settlement and license agreement with Alcon (1.85 -0.01)
Co announced the signing of a pair of agreements with Alcon Laboratories granting Alcon a license to sell certain products manufactured by Synergetics for worldwide distribution on a co-exclusive basis throughout the extensive Alcon network and covering the terms of supply of such products to Alcon by Synergetics. The agreements also settle all litigation between Synergetics and Alcon (ACL).
17:15
SIRI Sirius XM Radio regains compliance with all NASDAQ Listing Rules (1.14 -0.05)
17:11
BHI Baker Hughes and BJ Services reach final agreement with DOJ and comment on timing for proceeding to closing their pending merger (50.94 -2.94)
Baker Hughes Incorporated (BHI) and BJ Services (BJS) have reached a final agreement with the Antitrust Division of the U.S. Department of Justice in connection with the governmental approval of the pending merger between the companies.
17:09
RNR RenaissanceRe beats by $1.14, beats on revs (55.37 -1.37)
Reports Q1 (Mar) earnings of $1.91 per share, $1.14 better than the Thomson Reuters consensus of $0.77; revenues rose 17.0% year/year to $379 mln vs the $362.3 mln consensus.
17:05
PPDI PPD Inc. announced its contract research facility in Athlone, Ireland, has been awarded manufacturer licenses by the Irish Medicines Board (27.64 +2.09) -Update-
17:05
DTE DTE Energy beats by $0.18, misses on revs; guides FY10 EPS in-line (46.87 -0.68)
Reports Q1 (Mar) earnings of $1.38 per share, excluding non-recurring items, $0.18 better than the Thomson Reuters consensus of $1.20; revenues rose 8.8% year/year to $2.45 bln vs the $2.58 bln consensus. Co raised EPS guidance for FY10 in-line, sees EPS of $3.45-3.80 vs. $3.51 Thomson Reuters consensus, from $3.35-3.75. Co said, "We are confident that if we maintain our steadfast focus on continuous improvement, customer service and a strong balance sheet, we can deliver 5 percent to 6 percent long-term average annual operating EPS growth while paying an attractive dividend."
17:04
NLC Nalco beats by $0.06, beats on revs; guides FY10 EPS (24.84 -0.55)
Reports Q1 (Mar) earnings of $0.31 per share, excluding currency devaluation, $0.06 better than the Thomson Reuters consensus of $0.25; revenues rose 10.2% year/year to $956.6 mln vs the $921.3 mln consensus. Co issues guidance for FY10, sees EPS of of more than $1.30 vs. $1.36 Thomson Reuters consensus. The Company continues to expect mid-single-digit organic sales growth for the year. Adjusted EBITDA is now expected to exceed $710 million for the yr.
17:02
AKR Acadia Realty Trust reports 1Q10 FFO of $0.25 vs. $0.25 Thomson Reuters consensus; reaffirms 2010 FFO guidance of $0.95-$1.00 vs. $1.01 consensus (18.66 -0.73)
Co states, "Along with the improving retail environment, the capital markets also showed continued strengthening during the quarter. While we believe these improvements bode well for both our existing portfolio as well as our redevelopment pipeline, we recognize that we are still in the early stages of this economic recovery and, thus, remain focused on maintaining the strength of our portfolio and our balance sheet. Furthermore, we believe that our liquidity and available discretionary acquisition fund capital puts us in a strong position to capitalize on potential opportunities as they arise."
16:56
SXL Sunoco Logistics misses by $0.39, beats on revs; announces the retirement of Deborah M. Fretz, President and CEO (70.17 -0.97)
Reports Q1 (Mar) earnings of $1.06 per share, $0.39 worse than the Thomson Reuters consensus of $1.45; revenues rose 61.9% year/year to $1.68 bln vs the $1.38 bln consensus. Co said, "Lower earnings from the prior year's first quarter were driven primarily by the absence of a wide contango crude oil market structure along with decreased refined products volumes which were impacted by planned and unplanned refinery maintenance activity. This reduction in earnings was partially offset by higher crude oil pipeline volumes and fees and improved operating performance at the Partnership's Nederland and refined products terminals. Contributing further to the reduction in earnings from the prior year's quarter was a $5.8 million increase in interest expense associated primarily with the issuance of Senior Notes in 2010 and $3.0 million of non-recurring expenses."
16:51
SXL Sunoco Logistics announces the retirement of Deborah M. Fretz, President and CEO (70.17 -0.97)
16:50
TRMK Trustmark beats by $0.02 (24.87 -0.66)
Reports Q1 (Mar) earnings of $0.37 per share, $0.02 better than the Thomson Reuters consensus of $0.35. Co said, "Trustmark continued to make significant progress in the resolution of its construction and land development portfolio in Florida. During the last 12 months, this portfolio has been reduced by 33.5% to $183.7 million. At March 31, 2010, Florida nonimpaired construction and land development loans totaled $148.8 million with an associated reserve for loan losses of $19.6 million, or 13.20%. Managing credit risks resulting from current economic and real estate market conditions continues to be a primary focus for Trustmark."
16:45
NEXM NexMed appoints Dr. Stephen B. Howell as Chairman of its Scientific Advisory Board (0.50 +0.10)
16:42
ULTI Ultimate Software beats by $0.01, beats on revs; guides Q2 revss ; reaffirms FY10 revs guidance (36.34 -0.24)
Reports Q1 (Mar) earnings of $0.09 per share, $0.01 better than the Thomson Reuters consensus of $0.08; revenues rose 14.1% year/year to $55.7 mln vs the $54.9 mln consensus. Co issues guidance for Q2, sees Q2 revs of approx $54 mln vs. $56.23 mln Thomson Reuters consensus. Co reaffirms guidance for FY10, sees FY10 revs frowing approx 18% YoY, which calculates to roughly of $232 mln (vs. $232.00 mln Thomson Reuters consensus).
16:40
CTS CTS Corp beats by $0.02, misses on revs; guides FY10 EPS in-line, revs in-line (10.52 -0.29)
Reports Q1 (Mar) earnings of $0.13 per share, $0.02 better than the Thomson Reuters consensus of $0.11; revenues rose 9.6% year/year to $129.4 mln vs the $138 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.52-0.60 vs. $0.55 Thomson Reuters consensus; co raised FY10 revs growth to 12-20%, which calculates to ~$558.9-598.8 mln vs. $578.00 mln Thomson Reuters consensus, up from prior growth of 10-15%, which calculates to ~$548.9-573.8 mln consensus.
16:40
WBSN Websense misses by $0.01, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (23.99 -0.97)
Reports Q1 (Mar) earnings of $0.26 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of $0.27; revenues fell 1.9% year/year to $81.8 mln vs the $82.6 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.26-0.29 vs. $0.29 Thomson Reuters consensus; sees Q2 revs of $83-85 mln vs. $84.29 mln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $1.16-1.23, excluding non-recurring items, vs. $1.20 Thomson Reuters consensus; sees FY10 revs of $338-346 mln vs. $342.04 mln Thomson Reuters consensus.
16:34
VTNC Vitran beats by $0.04, beats on revs (13.73 -0.11)
Reports Q1 (Mar) loss of $0.06 per share, $0.04 better than the Thomson Reuters consensus of ($0.10); revenues rose 18.8% year/year to $165.9 mln vs the $163.3 mln consensus. Co said, "Our LTL segment improved shipments and tonnage at a double digit rate over the prior year first quarter. The growth rate for each month in 2010 escalated compared to the prior year month. As a result, March 2010 we posted our best LTL monthly operating ratio since June 2008."
16:34
PMTC Parametric beats by $0.01, reports revs in-line; guides Q3 EPS below consensus, revs in-line; reaffirms FY10 EPS guidance, revs guidance (19.26 -0.53)
Reports Q2 (Mar) earnings of $0.20 per share, $0.01 better than the Thomson Reuters consensus of $0.19; revenues fell 5.7% year/year to $240.6 mln vs the $242.9 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.14-0.20 vs. $0.23 Thomson Reuters consensus; sees Q3 revs of $235-246 mln vs. $246.19 mln Thomson Reuters consensus. Co reaffirms guidance for FY10, sees EPS of $1.00 vs. $1.00 Thomson Reuters consensus; sees FY10 revs of $1.015 mln vs. $1.01 bln Thomson Reuters consensus. "Our PLM license revenue in Q2 was $30 million, up 107% year-over-year, continuing to highlight our leadership position in a large and growing segment of the enterprise software market." "Our pipeline for new business opportunities with new and existing customers remains strong. During the quarter we recognized revenue from leading organizations such as BAE Systems, EADS, Huawei Technologies, NASA, the United States Navy, and Vestas Wind Systems."
16:33
MSFG Mainsource Fincl reports Q1 EPS of $0.12 vs $0.04 Thomson Reuters consensus (8.28 -0.37)
Although it remains high from a historical perspective, the Company's loan loss provision expense decreased to $9.5 million in the first quarter of 2010 compared to $11.4 million in the same period a year ago. Also contributing to the increase in earnings year over year was an increase in net interest income of $1.8 million as the Company's net interest margin increased to 4.09% from 3.74% a year ago.
16:30
ARRS Arris beats by $0.04, reports revs in-line; guides Q2 EPS in-line, revs in-line (12.38 -0.36)
Reports Q1 (Mar) earnings of $0.24 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.20; revenues rose 5.2% year/year to $266.7 mln vs the $266.7 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.22-0.26, excluding non-recurring items, vs. $0.24 Thomson Reuters consensus; sees Q2 revs of $275-295 mln vs. $287.76 mln Thomson Reuters consensus. Gross margin for the first quarter 2010 was 42.2%, which compares to the first quarter 2009 gross margin of 37.7% and the fourth quarter 2009 gross margin of 44.8%. the end of the first quarter 2009 and the fourth quarter 2009, respectively. The Company's book-to-bill ratio in the first quarter 2010 was 1.19 as compared to the first quarter 2009 of 1.16 and the fourth quarter 2009 of 0.92. "The first quarter results and in particular, customer diversification, cause me to continue to be optimistic about full year 2010. Increasing amounts of data and Internet TV traffic, and the proliferation of Internet ready HD televisions coupled with the industry trends towards converged platforms for voice, data and video, present opportunity and demand for existing and new ARRIS products."
16:27
MRCY Mercury Computer beats by $0.28, beats on revs; guides Q4 EPS in-line, revs in-line (13.24 -0.64)
Reports Q3 (Mar) earnings of $0.16 per share, $0.28 better than the Thomson Reuters consensus of ($0.12); revenues fell 13.8% year/year to $43.6 mln vs the $42.3 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.25-0.28 vs. $0.28 Thomson Reuters consensus; sees Q4 revs of $58-60 mln vs. $59.70 mln Thomson Reuters consensus. Beginning with the first quarter of fiscal 2010, Mercury changed its non-GAAP measure for reporting financial performance to adjusted EBITDA (earnings from continuing operations before interest income and expense, income taxes, depreciation, amortization of acquired intangible assets, restructuring, impairment of long-lived assets, and stock-based compensation costs). Adjusted EBITDA for the fourth quarter of fiscal 2010 is expected to be in the range of $9.3 million to $9.9 million (consensus is for EBITDA of $9.8 mln).
16:27
SKT Tanger Factory reports in-line (42.56 -1.32)
Reports Q1 (Mar) funds from operations (FFO) of $0.63 per share, in-line with the First Call consensus of $0.63; revenues rose 1.6% year/year to $66.2 mln vs the $65.6 mln consensus. Co issues in-line 2010 FFO's guidance; co sees FFO's of $2.57-2.67 vs. $2.66 consensus
16:26
PNRA Panera Bread reports EPS in-line with preannouncment, revs in-line; reaffirms Q2 EPS guidance; reaffirms FY10 EPS guidance (86.20 -1.19)
Reports Q1 (Mar) earnings of $0.82 per share, in-line with the Thomson Reuters consensus of $0.82 and the $0.81-0.82 preannouncement; revenues rose 13.7% year/year to $364 mln vs the $364.8 mln consensus. Co reaffirms guidance for Q2, sees EPS of $0.81-0.83 vs. $0.84 Thomson Reuters consensus. The Company's second quarter fiscal 2010 Company-owned comparable bakery-cafe sales growth is targeted at 8.5% to 9.5% versus the comparable period in fiscal 2009. The assumptions underlying this comparable bakery-cafe sales growth target for the second quarter are transaction growth of approximately 2.0% to 3.0% and average check growth of ~6.5%, with average check growth consisting of ~2.5% price and 3.5% to 4.5% mix impact on average check. Co reaffirms guidance for FY10, sees EPS of $3.40-3.44 vs. $3.52 Thomson Reuters consensus. The Co's fiscal 2010 target assumes Company-owned comparable bakery-cafe sales growth of 6.5% to 7.5% versus fiscal 2009. This target assumes transaction growth of between 1.5% and 2.5% and average check growth of ~5%. Company-owned comparable bakery-cafe sales in the first quarter of fiscal 2010 increased 10.0% versus the comparable period in fiscal 2009. Company-owned comparable bakery-cafe sales increased 9.5%, 8.1%, and 12.7% in the fiscal 2010 monthly periods of January, February and March, respectively, vs the comparable periods in fiscal 2009. Franchise-operated comparable bakery-cafe sales increased 9.2% in the first quarter of fiscal 2010 versus the comparable period in fiscal 2009 (9.3% in January, 6.9% in February and 12.1% in March). As a result, system-wide comparable bakery-cafe sales increased 9.5% in the first quarter of fiscal 2010 versus the comparable period in fiscal 2009 (9.4% in January, 7.4% in February and 12.4% in March). Consensus for Q1 comps was +8.1%. Co reports Q1 operating margin of 11.6% vs 11.4% estimate and 12.9% last qtr and 9.0% prior year.
16:26
CCUR Concurrent misses by $0.17, beats on revs (5.93 -0.08)
Reports Q3 (Mar) loss of $0.12 per share, excluding non-recurring items, $0.17 worse than the Thomson Reuters consensus of $0.05; revenues fell 24.0% year/year to $14.6 mln vs the $12.5 mln consensus. "We reiterate our prior guidance that our revenue for the second half of our fiscal year will exceed our revenue for the first half of the fiscal year. We are seeing traction with our new three-screen offerings as shown by the execution of another multi-year contract with a North American MSO to deliver media data and advertising solutions as a managed service, consistent with the objectives of our long term strategy."
16:26
STR Questar misses by $0.02, beats on revs (48.07 -1.86)
Reports Q1 (Mar) earnings of $0.73 per share, excluding non-recurring items, $0.02 worse than the Thomson Reuters consensus of $0.75; revenues rose 6.7% year/year to $984 mln vs the $765.3 mln consensus. Questar now expects that 2010 EBITDA could range from $1.48 to $1.58 billion, up from previous guidance of $1.45 to $1.55 billion. Questar E&P 2010 EBITDA could range from $830 to $880 million, up from previous guidance of $820 to $870 million. The company also raised Questar E&P 2010 production guidance to 212 to 217 Bcfe, up from prior guidance of 210 to 215 Bcfe.
16:25
DVA DaVita reports EPS in-line, revs in-line (64.39 -0.47)
Reports Q1 (Mar) earnings of $1.04 per share, in-line with the Thomson Reuters consensus of $1.04; revenues rose 7.7% year/year to $1.56 bln vs the $1.55 bln consensus. Total treatments for the first quarter of 2010 were 4,294,121, or 55,768 treatments per day, representing a per day increase of 4.5% over the first quarter of 2009. Non-acquired treatment growth in the quarter was 4.2% over the prior year's first quarter. Currently they still expect their operating income for 2010 to be in the range of $950-$1,020 mln and they also expect their operating cash flows for 2010 to be in the range of $675 mln to $725 mln.
16:25
ECPG Encore Capital beats by $0.05, misses on revs (21.54 -1.16)
Reports Q1 (Mar) earnings of $0.44 per share, $0.05 better than the Thomson Reuters consensus of $0.39; revenues rose 14.3% year/year to $87.3 mln vs the $89.3 mln consensus.
16:23
LEN Lennar sells $500 mln of debt securities (18.94 -1.16)
Co announced today that it has agreed to sell $250 mlnprincipal amount of 6.95% senior notes due 2018 and $250 mln principal amount of 2.00% convertible senior Nnotes due 2020 to initial purchasers. Lennar plans to use approximately $200 mlnfrom the net proceeds of the sale of the senior notes due 2018 to fund purchases pursuant to its tender offer for a limited principal amount of its 5.125% senior notes due 2010, its 5.95% senior notes due 2011 and its 5.95% senior notes due 2013. Lennar will use the remainder of the net proceeds from the sale of the senior notes due 2018 and the net proceeds from the sale of the convertible senior notes due 2020 for general corporate purposes, which may include the repayment or repurchase of its existing senior notes or other indebtedness.
16:23
PZN Pzena misses by $0.01 (7.65 -0.01)
Reports Q1 (Mar) earnings of $0.08 per share, $0.01 worse than the Thomson Reuters consensus of $0.09; revenues rose 40.8% year/year to $19.2 mln vs the $19.3 mln dual-analyst est.
16:23
KONA Kona Grill beats by $0.08, beats on revs; guides Q2 EPS in-line, revs in-line (5.21 -0.12)
Reports Q1 (Mar) loss of $0.07 per share, excluding a $0.03 per share charge related to legal and prosessional fees, $0.08 better than the Thomson Reuters consensus of ($0.15); revenues rose 8.2% year/year to $21.1 mln vs the $20.1 mln consensus. Co issues in-line guidance for Q2, sees EPS of (0.06)-(0.01) vs. ($0.05) Thomson Reuters consensus; sees Q2 revs of $21.7-$22.7 mln vs. $22.02 mln Thomson Reuters consensus.
16:22
SBX Seabright Insurance Holdings reports Q1 EPS compared to $0.16 Thomson Reuters consensus; total revenue increased 14% y/y to $74.3 mln compared to Thomson Reuters consensus of $70.5 mln (10.91 -0.07)
The net loss ratio for the first quarter of 2010 was 70.2% compared to 66.1% in the same period of 2009. The net combined ratio for the first quarter of 2010 was 101.1% compared to 100.1% for the same period in 2009.
16:22
MIPS MIPS Techs beats by $0.02, reports revs in-line (5.02 +0.02)
Reports Q3 (Mar) earnings of $0.08 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.06; revenues fell 0.9% year/year to $17.5 mln vs the $17.4 mln consensus.
16:21
BGS B&G Foods beats by $0.02, beats on revs (9.95 -0.21)
Reports Q1 (Mar) earnings of $0.22 per share, $0.02 better than the Thomson Reuters consensus of $0.20; revenues rose 5.6% year/year to $125.2 mln vs the $122.3 mln consensus. Co raises EBITDA guidance for fiscal 2010 to $108.0-111.0 mln vs. the $104.2 mln consensus. B&G Foods expects to make capital expenditures of approximately $11.0 million in the aggregate during fiscal 2010.
16:21
BIN IESI-BFC reports Q1 EPS of $0.20 vs $0.16 Thomson Reuters consensus; revs $264 mln vs $248.87 mln Thomson Reuters consensus (18.62 -0.64)
"We are encouraged by our revenue growth and overall operating performance in the first quarter of 2010, driven by strong core price and volume growth, as well as higher recycled commodity prices. We enjoyed strong comparative growth on all of our performance measures including adjusted EBITDA, operating income, net income, earnings per share and free cash flow(B). These results are even more remarkable considering the challenge of inclement weather we faced in our U.S. south and northeast regions this quarter."
16:19
ININ Int. Intelligence misses by $0.01, reports revs in-line (19.92 -.23)
Reports Q1 (Mar) earnings of $0.22 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of $0.23; revenues rose 18.6% year/year to $35 mln vs the $35.1 mln consensus.
16:18
ATAC Aftermarket Tech beats by $0.05, reports revs in-line; guides FY10 EPS in-line (18.90 -0.81)
Reports Q1 (Mar) earnings of $0.35 per share, $0.05 better than the Thomson Reuters consensus of $0.30; revenues rose 29757.1% year/year to $104.5 mln vs the $104.4 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.75-0.95 vs. $1.84 Thomson Reuters consensus.
16:18
BLKB Blackbaud reports EPS in-line, revs in-line
Reports Q1 (Mar) earnings of $0.20 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.20; revenues rose 2.0% year/year to $76.2 mln vs the $76.6 mln consensus.
16:17
HGIC Harleysville Grp misses by $0.04, misses on revs (32.67 -0.51)
Reports Q1 (Mar) earnings of $0.28 per share, $0.04 worse than the Thomson Reuters consensus of $0.32; revenues fell 3.2% year/year to $239 mln vs the $241.4 mln. Book value of $28.29 per share; up 19 percent from a year ago consensus.
16:16
EWBC East West Banc beats by $0.06; guides Q2 EPS in-line (19.38 -0.40)
Reports Q1 (Mar) earnings of $0.13 per share, $0.06 better than the Thomson Reuters consensus of $0.07. Co issues in-line guidance for Q2, sees EPS of $0.13-0.17 vs. $0.13 Thomson Reuters consensus. "In the first quarter, the provision for loan losses decreased by 45% and our net interest margin expanded to 4.02% excluding yield adjustments. Credit indicators have improved substantially. As of March 31, 2010, nonperforming assets to total assets was down to 0.89% and charge-offs for the quarter decreased 51%. Further, the allowance for loan losses to total loans is a strong 2.93%."
16:15
CSGS CSG Systems misses by $0.01, beats on revs; guides FY10 EPS above consensus, revs in-line (22.54 -0.17)
Reports Q1 (Mar) earnings of $0.49 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of $0.50; revenues rose 5.5% year/year to $130.3 mln vs the $129 mln consensus. Co issues mixed guidance for FY10, sees EPS of $2.13-2.19 vs. $2.10 Thomson Reuters consensus; sees FY10 revs of $522-530 mln vs. $525.72 mln Thomson Reuters consensus.
16:15
RKT Rock-Tenn beats by $0.11, beats on revs (49.57 )
Reports Q2 (Mar) earnings of $0.70 per share, $0.11 better than the Thomson Reuters consensus of $0.59; revenues rose 8.2% year/year to $731.9 mln vs the $694.3 mln consensus.
16:15
BRCM Broadcom beats by $0.11, beats on revs; guides Q2 revs above consensus (34.82 -1.21)
Reports Q1 (Mar) GAAP earnings of $0.40 per share, $0.11 better than the Thomson Reuters consensus of $0.29; revenues rose 9.0% year/year to $1.46 bln vs the $1.38 bln consensus. Co reports Q1 gross margins of 52.5% vs 52.6% Thomson Reuters consensus; sees Q2 gross margin flat with Q1, in line with consensus. Co issues upside guidance for Q2, sees Q2 revs of $1.535-1.635 bln (+5-12% sequentially) vs. $1.42 bln Thomson Reuters consensus. "Our focus to increase expenses more slowly than revenue produced solid operating margins and record earnings per share." "Demand for current products, coupled with new product introductions, should enable us to deliver strong sequential growth into the second quarter. Our products for the Home, Hand, and Infrastructure are extremely well positioned to deliver sustained profitable growth and will benefit from both improved global demand and the increasing role of communications in a connected world."
16:14
PFWD Phase Forward reports EPS in-line, revs in-line (16.78 -0.02)
Reports Q1 (Mar) earnings of $0.12 per share, in-line with the Thomson Reuters consensus of $0.12; revenues rose 17.8% year/year to $57.5 mln vs the $57 mln consensus.
16:12
SIMG Silicon Image beats by $0.02, beats on revs; guides Q2 revs in-line (3.42 -0.22)
Reports Q1 (Mar) loss of $0.05 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of ($0.07); revenues fell 3.7% year/year to $34.3 mln vs the $31.1 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $37-39 mln vs. $37.90 mln Thomson Reuters consensus.
16:12
RSYS RadiSys beats by $0.09, beats on revs; guides Q2 EPS in-line, revs above consensus (10.25 +0.16)
Reports Q1 (Mar) earnings of $0.11 per share, excluding non-recurring items, $0.09 better than the Thomson Reuters consensus of $0.02; revenues fell 13.3% year/year to $67.3 mln vs the $65.9 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.09-0.14, excluding non-recurring items, vs. $0.11 Thomson Reuters consensus; sees Q2 revs of $70-75 mln vs. $69.37 mln Thomson Reuters consensus. The Co continues to believe that 2010 Next Generation product revenue will grow by 20-30% over 2009. The Company also continues to project its Legacy product revenue to decline by 20-30% from 2009 as older programs continue to roll off. The Company currently expects that Next Generation product revenues will overtake Legacy product revenues and become a higher percentage of total revenues by the end of 2010.
16:12
AFL AFLAC beats by $0.09, reports revs in-line; guides Q2 EPS in-line; guides FY10 EPS in-line (52.41 -2.32)
Reports Q1 (Mar) earnings of $1.41 per share, $0.09 better than the Thomson Reuters consensus of $1.32; revenues rose 5.1% year/year to $5.07 bln vs the $5.02 bln consensus. Co issues in-line guidance for Q2, sees EPS of $1.33-1.38 vs. $1.33 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $5.24-5.56 vs. $5.34 Thomson Reuters consensus. "We are pleased with our overall results in the first quarter of 2010. As we expected, we continued to see strong sales growth in our largest operating segment, Aflac Japan. At the same time, we were not surprised by continued sales weakness in the U.S. market in light of ongoing economic challenges. However, we posted strong consolidated financial results, and earnings-per-share growth was again consistent with our expectation and objective. We remain confident in the quality of our balance sheet. Furthermore, we did not experience significant credit rating downgrades of our investments in the quarter. We are especially pleased with our capital position, and our capital generation in the quarter was strong. Realized investment losses in the first quarter declined from the fourth quarter of 2009. As a result, we estimate that Aflac's risk-based capital ratio exceeded 525% at March 31, 2010, compared with 479% at the end of 2009."
16:11
FLEX Flextronics beats by $0.01, misses on revs; guides Q1 EPS in-line, revs in-line (7.91 -0.21)
Reports Q4 (Mar) earnings of $0.16 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.15; revenues rose 6.4% year/year to $5.94 bln vs the $6.04 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.16-0.19, excluding non-recurring items, vs. $0.16 Thomson Reuters consensus; sees Q1 revs of $6.1-6.6 bln vs. $6.33 bln Thomson Reuters consensus.
16:09
USNA USANA beats by $0.12, beats on revs; guides FY10 EPS in-line, revs in-line (35.47 -0.22)
Reports Q1 (Mar) earnings of $0.62 per share, $0.12 better than the Thomson Reuters consensus of $0.50; revenues rose 22.4% year/year to $119.1 mln vs the $106.7 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.50-$2.60 vs. $2.50 Thomson Reuters consensus; sees FY10 revs of $470-$480 mln vs. $472.00 mln Thomson Reuters consensus.
16:09
SMCI Super Micro Computer reports EPS in-line, beats on revs; guides Q4 EPS below consensus, revs in-line (17.93 -0.96)
Reports Q3 (Mar) earnings of $0.21 per share, in-line with the Thomson Reuters consensus of $0.21; revenues rose 72.9% year/year to $189.3 mln vs the $182.1 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.20-0.23, excluding non-recurring items, vs. $0.24 Thomson Reuters consensus; sees Q4 revs of $192-202 mln vs. $197.38 mln Thomson Reuters consensus. Non-GAAP gross margin for the third quarter was 15.5% compared to 15.0% in the same period a year ago. Non-GAAP gross margin was 16.7% for the second quarter of fiscal year 2010. "We achieved another record high of quarterly revenues, which is the 4th straight quarter of increasing revenues, making the first 9 months of fiscal 2010 the strongest performance in our history. Supermicro has strong momentum going into the June quarter because of our growing brand strength, important OEM wins, new Westmere and G34 product launches, and growing revenue opportunities in Europe and Asia. Our global expansion to meet our worldwide demand now includes production capacity in Europe as well as our first production in Taiwan, which was added during the quarter. We expect our strong growth trend to continue into the June quarter and beyond."
16:09
AMAG AMAG Pharma misses by $0.30, misses on revs (36.83 -0.63)
Reports Q1 (Mar) loss of $1.15 per share, $0.30 worse than the Thomson Reuters consensus of ($0.85); revenues rose year/year to $13.3 mln vs the $16.8 mln consensus, up from $0.956 mln in the prior year's quarter.
16:08
RFMD RF Micro Device beats by $0.05, beats on revs (5.49 +0.13)
Reports Q4 (Mar) earnings of $0.16 per share, $0.05 better than the Thomson Reuters consensus of $0.11; revenues rose 51.4% year/year to $260.8 mln vs the $240.2 mln consensus. RFMD currently expects fiscal 2011 revenue and non-GAAP EPS to increase over fiscal 2010 results. Co says they are currently fully booked for sequential revenue growth in the June quarter and currently expects June quarterly gross margin to be consistent with March quarterly results. (Q1 rev est is $247.86 mln). RFMD currently expects transceiver revenue to increase sequentially in the June quarter and to begin a ramp-down in the September quarter. RFMD currently expects fiscal 2011 revenue and non-GAAP EPS to increase over fiscal 2010 results (current consensus is for FY11 of $0.52/$1.037 bln). RFMD currently expects fiscal 2011 free cash flow to be consistent with fiscal 2010 levels and to become net cash positive during fiscal 2011. RFMD expects moderate year-over-year operating expense growth in fiscal 2011 and cash taxes of approximately $6-7 million per quarter, reflecting the Company's improved outlook for revenue and profitability.
16:08
DWA Dreamworks Animation beats by $0.01, beats on revs (42.36 -0.63)
Reports Q1 (Mar) earnings of $0.24 per share, $0.01 better than the Thomson Reuters consensus of $0.23; revenues fell 38.5% year/year to $162.1 mln vs the $135.6 mln consensus. The Company's second quarter results are expected to be driven primarily by the performance of Shrek Forever After. The Company expects its full year 2010 results, which will likely be heavily weighted toward the second half of the year, to be driven primarily by the continued performance of How to Train Your Dragon and the performance of Shrek Forever After, which is scheduled to be released on May 21, 2010.
16:08
VOLC Volcano announces distribution agreement with AngioScore for the AngioSculpt PTCA Scoring balloon catheter in Japan (22.74 -0.53)
Co announced that it has entered into a distribution agreement with AngioScore for its AngioSculpt? PTCA Scoring Balloon Catheter for coronary indications in Japan. This is the first of what Volcano believes will be many products distributed by Volcano Japan, which now includes more than 50 direct sales representatives.
16:08
RBNF Rurban Financial announced the appointment of Anthony V. Cosentino as Chief Financial Officer (6.70 -0.11)
16:07
DFG Delphi Fin beats by $0.04 (26.23 -1.67)
Reports Q1 (Mar) earnings of $0.86 per share, $0.04 better than the Thomson Reuters consensus of $0.82. "Delphi continued to achieve record financial performance in the first quarter of 2010, with shareholders' equity and book value per share both reaching all-time highs. Our strong growth in operating earnings and attractive operating ROE were driven by robust investment performance and attractive underwriting profit margins. We were pleased with premium growth at Safety National, which continued to capitalize on our market leadership position and ongoing firmness in the excess workers' compensation market. Market conditions remain challenging for Reliance Standard, where continued high unemployment levels and our commitment to pricing and underwriting discipline have impacted premiums and production."
16:07
NSC Norfolk Southern beats by $0.09, beats on revs (59.64 -1.44)
Reports Q1 (Mar) earnings of $0.75 per share, excluding a $0.07 per diluted share deferred tax charge resulting from the enactment of recent healthcare legislation, $0.09 better than the Thomson Reuters consensus of $0.66; revenues rose 15.2% year/year to $2.24 bln vs the $2.11 bln consensus. Co say the YoY rev growth was primarily the result of a 9% increase in traffic volume. The railway operating ratio improved by 5.1 percentage points to a post-Conrail transaction first-quarter record of 75.2 percent, compared with 80.3 percent in first quarter 2009.
16:07
MRH Montpelier Re beats by $0.20, beats on revs (16.70 -0.28)
Reports Q1 (Mar) loss of $0.31 per share, $0.20 better than the Thomson Reuters consensus of ($0.51); revenues rose 18.8% year/year to $158.5 mln vs the $151.8 mln consensus. Fully converted book value per share was $21.36 at March 31, 2010, an increase of 1.5% for the quarter including dividends. The loss ratio for the quarter was 91%, which includes 15 points ($24 million) in favorable releases from prior years' loss reserves. The combined ratio was 123% for the quarter compared with 74% in the first quarter of 2009.
16:06
NATI Natl Instruments misses by $0.07, misses on revs; guides Q2 EPS in-line, revs in-line (36.12 -0.46)
Reports Q1 (Mar) earnings of $0.23 per share, $0.07 worse than the Thomson Reuters consensus of $0.30; revenues rose 21.1% year/year to $191.1 mln vs the $199.7 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.28-$0.38 vs. $0.32 Thomson Reuters consensus; sees Q2 revs of $200-$214 mln vs. $206.25 mln Thomson Reuters consensus. Co states, "The sequential decline was exaggerated by a shipping issue on March 31 that resulted in $5 mln of shipments missing the deadline for revenue recognition in Q1. The issue occurred because certain product shipments that were processed throughout the day on March 31, were not transferred to the company's freight carriers until two hours after the company's revenue recognition cut-off time, due to a delay in the completion of export documents. As a result these shipments were not recorded as revenue in Q1 financial results and will be recognized as revenue in Q2. Q1 orders were up 25 percent year-over-year, resulting in an all-time record for first quarter orders."
16:05
CSII Cardiovascular Systems receives unconditional FDA approval for ORBIT II coronary clinical trial (4.75 -0.10)
Co received Food and Drug Administration unconditional Investigational Device Exemption (IDE) approval, allowing the company to proceed with ORBIT II, a pivotal trial to evaluate the safety and effectiveness of CSI's Diamondback 360(R) System in the coronary arteries. CSI received conditional IDE approval for the ORBIT II study in January 2010. The pivotal trial will initially enroll up to 100 patients at as many as 50 U.S. sites, with the potential to enroll up to 429 patients. Dr. Jeffrey Chambers, an interventional cardiologist with Metropolitan Cardiovascular Consultants, Minneapolis, is the principal investigator.
16:05
BWLD Buffalo Wild Wings beats by $0.01, misses on revs; says improvement in same-store sales and moderate wing costs are key to meeting earnings goal (51.01 -0.23)
Reports Q1 (Mar) earnings of $0.58 per share, $0.01 better than the Thomson Reuters consensus of $0.57; revenues rose 15.7% year/year to $152.3 mln vs the $154.4 mln consensus. "We are experiencing softness in April same-store sales of (3.7%) at company-owned restaurants and (2.4%) at franchised locations. We are addressing specific unit performance as well as implementing system-wide strategies to drive sales. We expect to realize year-over-year cost savings in the quarter for traditional wings, as the market has declined steadily in the past few months. While we believe that our previously-announced net earnings growth goal for 2010 of 20% may be achievable, improvement in same-store sales and moderate wing costs are key to meeting this goal... We have a vigorous focus on the core elements of our brand that have been the cornerstone of our success and that have built loyalty among our Guests with our unique You Have To Be Here experience. Our diligence to improve our performance and build our sales and profitability will not waver. We are dedicated to maintaining our position as a leader by delivering wings, beer and sports in a fun and social atmosphere that will continue to drive Guest loyalty and the long-term success and growth of Buffalo Wild Wings."
16:05
CBI CB&I reports EPS in-line, misses on revs (24.14 -0.86)
Reports Q1 (Mar) earnings of $0.42 per share, in-line with the Thomson Reuters consensus of $0.42; revenues fell 32.9% year/year to $869.3 mln vs the $980.4 mln consensus. New awards totaled $560.2 million for the quarter, representing a diverse portfolio in terms of size, project type and location. As of March 31, CB&I's total backlog was $6.9 billion and cash and cash equivalents totaled $336.8 million. "We are pleased with first quarter results, particularly with our backlog performance, project mix, and strong margins. Beyond our financials, we are also proud to have completed several major projects during the quarter including the Shell ethylene cracker in Singapore and the South Hook LNG terminal for ExxonMobil and Qatar Petroleum. CB&I's future success is directly tied to the satisfaction of our clients and our reputation in the market. I'd like to personally thank all of our employees for their hard work and dedication in ensuring the successful start-up of these projects."
16:05
EPIQ EPIQ Systems misses by $0.01, misses on revs (11.99 -0.27)
Reports Q1 (Mar) earnings of $0.16 per share, $0.01 worse than the Thomson Reuters consensus of $0.17; revenues fell 6.7% year/year to $49.1 mln vs the $54.4 mln consensus.
16:04
DRC Dresser-Rand to acquire Turbo Machines Field Services; Closing is expected to occur in early May 2010 (33.73 -0.74)
Co announced that Dresser-Rand has signed an agreement to acquire the assets of Turbo Machines Field Services (Pty) Ltd. ("TMFS"). Closing is expected to occur in early May 2010. The acquisition is expected to be neutral to earnings in the first year and accretive thereafter.
16:04
RHI Robt Half misses by $0.01, misses on revs (31.40 -0.49)
Reports Q1 (Mar) earnings of $0.05 per share, $0.01 worse than the Thomson Reuters consensus of $0.06; revenues fell 10.5% year/year to $737.2 mln vs the $750.8 mln consensus. "We are beginning to see improvement in the demand for our professional staffing services as a result of better economic conditions in North America and abroad"... "First-quarter revenues for our staffing operations were up 2 percent on a constant-currency basis from the results we reported for the fourth quarter."
16:03
PRXL PAREXEL beats by $0.01, reports revs in-line; guides Q4 EPS in-line, revs in-line (23.94 -0.04)
Reports Q3 (Mar) earnings of $0.28 per share, $0.01 better than the Thomson Reuters consensus of $0.27; revenues rose 10.1% year/year to $291.2 mln vs the $290.8 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.29-0.31 vs. $0.30 Thomson Reuters consensus; sees Q4 revs of $294-304 mln vs. $297.84 mln Thomson Reuters consensus. For Calendar Year 2010, consolidated service revenue is expected to be in the range of $1.180 to $1.215 billion, GAAP earnings per diluted share are projected to be in the range of $0.99 to $1.09, and adjusted earnings per share are projected to be in the range of $1.10 to $1.20.
16:03
KSU KC Southern announced that it intends to offer5,000,000 shares of common stock (40.10 +0.84) -Update-
Co announced that it intends to offer, subject to market and other conditions, 5,000,000 shares of common stock in a registered underwritten public offering. The co intends to grant the underwriters an option for 30 days to purchase up to 750,000 additional shares of common stock to cover overallotments, if any. The co intends to use the net proceeds from the sale of the common stock, together with approximately $106.6 million of other available cash, to redeem $66.5 million principal amount of its 13.0% Senior Notes due 2013 for a total redemption price of $75.1 million, $70.0 million principal amount of the 12.5% senior notes due 2016 issued by its subsidiary Kansas City Southern de Mexico, S.A. de C.V. for a total redemption price of $78.8 million and $136.3 million principal amount of the 9.375% senior notes due 2012 issued by KCSM for a total redemption price of $139.5 million, as well as pay the expenses associated with such redemptions. The Co intends to use the net proceeds from any exercise of the overallotment option to redeem additional principal amounts of the 9.375% senior notes due 2012 issued by KCSM.
16:03
NAL New Alliance Bcshrs beats by $0.01, beats on revs (12.60 -0.01)
Reports Q1 (Mar) earnings of $0.14 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.13; revenues rose 14.1% year/year to $71 mln vs the $65.2 mln consensus. "Our first quarter results reflect our sound banking fundamentals and our core earnings momentum. We are very pleased with the success of the initiatives undertaken in 2009 and in the first quarter of 2010 to further improve our performance as reflected in record revenues and the growth of the net interest margin."
16:03
FLL Full House Resorts announced a favorable decision in arbitration
Co announced today a favorable decision in the arbitration proceeding initiated against it by Harrington Raceway, Inc. HRI claimed, in a June 19, 2009 pleading, that it disputed the minimum annual guaranteed payment to Full House pursuant to the management reorganization agreement between it and Full House dated June 18, 2007. The arbitration hearing was held in February of this year and the ruling was issued yesterday denying the claim, holding that HRI was not entitled to any credit or refund and that the minimum annual guaranteed management fee payable to Full House had been properly computed.The term of the management agreement is through August of 2011 and Full House expects to continue to receive at least the 5% minimum annual increase in fees as set forth in the agreement.
16:02
PRAA Portfolio Recovery Assoc. beats by $0.05, beats on revs (63.79 -0.13)
Reports Q1 (Mar) earnings of $0.91 per share, $0.05 better than the Thomson Reuters consensus of $0.86; revenues rose 22.3% year/year to $83.4 mln vs the $78.9 mln consensus.
16:01
TMK Torchmark Corp beats by $0.02; guides FY10 EPS in-line (53.38 -2.42)
Reports Q1 (Mar) earnings of $1.52 per share, $0.02 better than the Thomson Reuters consensus of $1.50. Co issues in-line guidance for FY10, sees EPS of $6.10-$6.20 vs. $6.13 Thomson Reuters consensus.
16:00
DVAX Dynavax Technologies Two Phase 3 HEPLISAV Trials Cleared by DSMB to Continue Immunizations (1.60 +0.16)
Co announced that the Data Safety Monitoring Board (DSMB) established for Dynavax's two ongoing Phase 3 trials for HEPLISAV has assessed subject safety data for 1,548 subjects that received their first injection and 1,225 subjects that received a second injection, and determined that the studies may continue without modification of the existing protocols. HEPLISAV is an innovative vaccine designed to protect against hepatitis B infection.
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