Briefing.com: Hourly In Play (R) – 17:00 ET
Sep 14, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 14-Sep-10 17:00 ET
16:50
CSX CSX, Seminole reach settlement in rate case; terms confidential (55.12 +0.04)
CSX Transportation issued the following statement: "We are pleased to announce that the Surface Transportation Board (STB) rate case between CSX Transportation, Inc. and Seminole Electric Cooperative, Inc. has been settled and Seminole has filed a motion to dismiss the case (Docket No. 42110). The parties have entered into a mutually agreeable transportation contract, the terms of which are confidential."
16:30
CNST Constar appoints Grant Beard as CEO (2.10 )
Co appoints Grant Beard as its new President and Chief Executive Officer, and as a Director. He is succeeding Ruth Mack who has been serving as the co's interim President and Chief Executive Officer since April 2010.
16:29
MEE Massey Energy announces proposals for consideration at special meeting of stockholders (31.62 -0.81)
Board passed proposals that are now going before stockholders for consideration and approval: Declassification of the Board of Directors; Elimination of cumulative voting; Removal of supermajority vote provisions related to stockholder amendment of bylaws; Removal of supermajority vote provisions related to stockholder approval of business combinations with a more than 5% stockholder; and Removal of the prohibition of the right of stockholders to request special meetings of stockholders... Board also recommended that stockholders approve a proposal to amend the Restated Certificate of Incorporation to increase the number of authorized shares of common stock to 300 million from 150 million.
16:29
SEAC SeaChange received a letter from Ramius addressing certain operational and other business issues related to its Software and Servers & Storage business units (7.05 -0.21)
Co announced that its Board of Directors received a letter from Ramius LLC addressing certain operational and other business issues related to the Company's Software and Servers & Storage business units. "The Board of Directors welcomes open dialogue and feedback from our shareholders and will carefully consider the matters raised by Ramius. The Board and management team are committed to undertaking actions with the shared goal of enhancing value for our shareholders, customers and employees."
16:26
TREX Trex and Poly-Wood enter licensing agreement for outdoor furniture; will be available in November (19.54 -1.36)
16:18
WPCS WPCS Intl reported Q1 ($0.05) vs. $0.06 in last year's Q4; revs rose ~14% to $28.9 mln (3.13 -0.03)
Co said, "Overall on a consolidated basis, we intend to produce profitable quarters for the balance of the fiscal year and conclude the year profitably."
16:17
ASTC Astrotech awarded $735,000 Phase II SBIR contract from the Joint Science & Technology Office for chemical and biological defense (1.21 -0.05)
16:16
STLD Steel Dynamics sees Q3 EPS of $0.05-0.10 vs $0.21 Thomson Reuters consensus (14.59 +0.06)
Co stated "Comparative second quarter to third quarter earnings will be negatively impacted by reduced margins within the steel segment, most significantly within the sheet and structural steel operations, driven by lower per ton selling values. Metals recycling operations will also be negatively impacted by quarter over quarter reduced ferrous metal spreads and reduced volumes." (stock is halted)
16:15
ARI Apollo Commercial Real Estate quickly falls 4.8% to $16.57 following news of 6 mln share common stock offering (see 16:13 comment) (17.40 -0.13) -Update-
16:14
BA Boeing awarded a five-year, $1.24 billion contract extension to continue engineering support of the International Space Station through Sept. 30, 2015 (68.20 -1.39)
16:13
ARI Apollo Commercial Real Estate Finance announces proposed common stock offering of 6 mln shares (17.40 -0.13)
Net proceeds from the offering will be used for general corporate purposes, including the repayment of debt and investment in target assets, with a focus on performing commercial first mortgage loans, commercial mortgage-backed securities, mezzanine financings and other real-estate related debt investments.
16:12
EPB El Paso Pipeline Partners announces public offering of 10 mln common units pursuant to an effective shelf registration statement (33.11 +0.16)
16:12
TRMK Trustmark announced that Gerard Host will serve as president and CEO upon the retirement of Richard Hickson as CEO on December 31, 2010 (20.64 -0.45)
16:06
NBIX Neurocrine Biosci announces top-line results of corticotropin releasing factor antagonist GSK561679 for treatment of major depressive disorder; Study did not demonstrate a treatment effect compared to placebo (6.25 +0.18)
Co announced top-line efficacy and safety results from a Phase II clinical trial utilizing Corticotropin Releasing Factor (CRF1) receptor antagonist GSK561679 in patients currently experiencing a major depressive episode. This double-blind, placebo controlled trial randomized 150 patients into two treatment arms, 350 mg of GSK561679 daily and placebo, and was conducted in the United States by GlaxoSmithKline (GSK) under the GSK/Neurocrine CRF1 collaboration. The primary endpoint was change from baseline in the Bech Melancholia scale at Week 6 and a key secondary endpoint was change from baseline in the HAMD-17 scale at Week 6. Results of statistical analysis using the intent-to-treat population revealed no benefit of GSK561679 compared with placebo on both the Bech Melancholia and HAMD-17 endpoints. The top-line results are based on the six week placebo-controlled portion of the study for the intent to treat population of 145 patients. From a safety perspective, there were no significant adverse events, and the drug was generally well tolerated. Three separate academic collaborative clinical trials are ongoing to evaluate the effects of GSK561679 in Post Traumatic Stress Disorder, anxiety and alcoholism.
16:06
WPZ Williams Partners announces startup of expansion at Echo Springs facility (43.48 +0.16)
Co has commenced operations on the fourth cryogenic processing train (TXP4) at the Echo Springs natural gas processing plant in Carbon County, Wyoming. The TXP4 plant adds approximately 350 million cubic feet per day (MMcfd) of natural gas processing and 30,000 barrels per day of natural gas liquid production, roughly doubling Echo Springs' capacity in both cases.
16:03
AGNC American Capital Agency declares Q3 dividend of $1.40/share, unchanged from prior (28.35 +0.12)
16:02
FCN FTI announces proposed private offering of $350 mln senior notes due 2020 in private offering (33.69 -0.20)
16:01
SRE Sempra Energy joins opposition to California Proposition 23 (53.42 +0.05)
Co has joined opposition to Proposition 23, the November California ballot initiative seeking to suspend AB32, the state's landmark global warming law. AB32 requires a reduction in greenhouse gas emissions in California to 1990 levels by 2020. "We support California's pioneering effort to transition to a low-carbon economy and AB32 provides the critical path for getting there," said Donald E. Felsinger, chairman and chief executive officer of Sempra Energy. "Applied properly, AB32 will promote clean technology, create new 'green' jobs and reduce air pollution. At Sempra Energy, we are implementing California's aggressive public policy agenda by investing in clean-burning natural gas and renewable energy resources."
16:01
RNWK RealNetworks acquires Backstage Technologies; not expected to materially affect Real's revenue or EBITDA in 2010 (2.92 -0.07)
Co acquired Canadian social games company Backstage Technologies. The Backstage team will continue to operate out of Victoria, B.C. The cash purchase price for this transaction was not material, and the acquisition is not expected to materially affect Real's revenue or EBITDA in 2010.
15:56
AAU Almaden Minerals confirms Goldgroup announced Caballo Blanco exploration program to commence near end of September (2.53 -0.01)
Co reports that Goldgroup Mining announced the details of a $8.5 mln drilling and exploration program due to commence near the end of September 2010 on Almaden's 100% owned Caballo Blanco gold project located in Veracruz, Mexico. Goldgroup has an option to acquire a 70% interest in the Caballo Blanco project from Almaden which would be exercised with this proposed program. Almaden would then retain a 30% carried interest in the project, until a bankable feasibility study has been completed by Goldgroup. Goldgroup reports that the 30,000 metre multi-drill diamond and reverse circulation drill program has been designed to expand and upgrade the current NI 43-101-compliant mineral resource estimate at the La Paila anomaly of the Northern Zone (contained in Goldgroup's NI 43-101 technical report dated March 22, 2010) and to test other highly prospective areas for mineralization.
15:53
Earnings Calendar
Today after the close MDZ and PLL are scheduled to report. Tomorrow before the open look for the following companies to report: AIR, APOG, CLC, and DBRN.
15:40
GDX Global, sector, & commodity ETF money flows- Metals & Mining space (GDX, GDXJ, PALL) lead all groups for the entire session; Regional Banks (KRE) post modest losses -Technical-
Actively Traded Leading Global, Regional, & Domestic Sector ETFs:
gold/silver miners- GDX +4.25%, GDXJ +4.25%, palladium- PALL +3.75%, sugar- SGG +2.75%, platinum- PTM +2.75%, PPLT +2.50%, silver- SLV +2.50%, SPDRS retailers- XRT +2.25%, semis- XSD +2.25%, SMH +2.0%, IGW +2.25%, gold- GLD +2.25%, IAU +2.25%, coffee- JO +2.0%, airlines- FAA +1.75%, solar power- TAN +2.0%
Actively Traded Lagging Global, Regional, & Domestic Sector ETFs:
Thailand- THD -2.0%, regional banks- KRE -1.25%, RKH -0.50%, VIX vol index- VXZ -1.0%, VXX -1.0%, US Dollar index- UUP -1.0%, copper- JJC -1.0%, RBOB gasoline- UGA -0.75%, commercial banks- KBE -0.50%, Russia- RSX -0.50%, iShares US broker/dealers- IAI -0.50%, steel- SLX -0.50%
15:39
Events and conferences of interest for tomorrow
Events and conferences of interest for tomorrow, September 14, include: VECO, PWR, SRCL at Wedbush Morgan Securities Clean Technology & Industrial Growth Management Access Conference; A, GENZ, BIIB at Stifel Nicolaus Healthcare Conference; KSU, GWR, SSD at Morgan Keegan Industrial /Transportation Conference. Central Bank/Treasury: Chicago Fed Mortgage Hearing
15:28
COHN Cohen & Co to acquire JVB Financial Holdings for $16.6 mln (4.45 +0.04)
Co announced the signing of a definitive agreement pursuant to which Cohen Brothers, a majority-owned subsidiary of Cohen & Company, will acquire JVB Financial Holdings, for $16.6 mln in cash and equity (~$12.7 mln in available cash on hand and $3.9 mln in common stock and Cohen Brothers restricted membership units). JVB is a privately-held investment firm specializing in the wholesale distribution of fixed income securities. For the twelve months ended December 31, 2009 and the six months ended June 30, 2010, JVB generated revenues of $27.7 mln and $13.4 mln, respectively, and net income of $5.1 mln and $1.2 mln, respectively. The transaction is expected to close during the fourth quarter of 2010.
15:05
GWW WW Grainger hovering near yesterday's 52-wk peak at 116.80 (116.78 +0.22) -Update- -Technical-
15:03
LKFN Lakeland Financial and Lake City Bank announced that David M. Findlay has been promoted to President of both organizations (20.10 +0.09)
15:01
CDR Cedar Shopping Centers amends terms of its credit facility; reduces credit facility to $185 mln from $285 mln (6.22 -0.03)
Co exercised its right to reduce the total commitment under its secured revolving credit facility for stabilized properties from $285 million to $185 million effective as of September 13, 2010. The reduction will eliminate unused portion fees of 50 basis points under the facility, representing potential cost savings of $500,000 on an annualized basis.
15:01
KRE KBW Regional Bank weak early but has displayed relative strength this afternoon and has pushed to a fresh afternoon rebound high following STI news (22.75 -0.32) -Update- -Technical-
BOH, CVBF, FMER, FULT, MBFI, ONB, PACW, SBNY, SIVB, UMPQ.
15:00
HOLX NASDAQ 100 (NDX) strength & weakness- Healthcare name (HOLX) continues to lead all percentage gainers nearing the final hour of trade -Technical-
NDX 10 Best % Performers:
HOLX, ALTR, CTXS, ILMN, AMAT, XLNX, URBN, MXIM, SHLD, SNDK
NDX 10 Worst % Performers:
CMCSA, FLEX, MAT, NVDA, CERN, CELG, BMC, YHOO, NIHD, CA
NASDAQ A/D @ 1:1
NASDAQ TRIN @ +0.70
14:58
HPQ Dow 30 (DJX) strength & weakness- Technology (CSCO, HPQ) continues to pace the way nearing the final hour; Financials/Banks (AXP, BAC, JPM) remain under pressure -Technical-
DJX 5 Best % Performers:
HPQ, CSCO, WMT, MRK, PFE
DJX 5 Worst % Performers:
BA, AXP, BAC, JPM, MCD
NYSE A/D @ 1:1
NYSE TRIN @ +0.90
14:48
COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Sugar Hits 6-Month Highs -Update-
December corn closed 11.5 cents higher at $4.95 per bushel, November soybeans closed 1 cent higher at $10.355 per bushel, Dec wheat closed 9 cents lower at $7.36 per bushel, October ethanol closed $0.046 higher at $2.055, October world sugar futures closed 1.02 cents higher (or 4.4%) to 24.36 cents.
14:45
SPY Stock indices put together limited extension of intraday bounce off afternoon lows -- Dow +13, S&P +2.2, Nasdaq +11.4 -Update- -Technical-
Relative sector strength in recent action has been noted in Semi SMH, Materials XLB, Disk Drive, Networking, Silver SLV and Reg Bank KRE which lagged during the morning rally.
14:41
AMMD American Medical receives favorable ruling in patent lawsuit against Biolitec (18.71 +0.41)
Co confirmed yesterday's U.S. Court of Appeals for the Federal Circuit's ruling that reversed a summary judgment and finding for Biolitec, The Court of Appeals found that a trial judge erred in his interpretation when he ruled last year that Biolitec didn't infringe the patent. Co sued Biolitec in 2007 for violating the Davenport patent which claims methods and devices for laser vaporization of prostate and other tissues.
14:40
COMDX NYMEX Energy Closing Prices
Crude oil settled lower by 39 cents to $76.80, natural gas closed up 1.8 cents to $3.956, heating oil gained 0.59 cents to finish at $2.1296 and RBOB gasoline shed 1.06 cent to end at $1.97 (all Oct contracts).
14:16
RKT Rock-Tenn announces $35 per ton price increase on uncoated recycled paperboard (52.64 -0.02)
14:16
CS Credit Suisse to acquire a minority interest in York Capital Management (46.93 +0.36)
Under the terms of the transaction, Credit Suisse will pay an initial $425 million for its interest in York. The transaction will also provide for earn-out payments based on five-year financial performance by York. Co expects to enter into non-exclusive arrangements to provide distribution services for York funds. The transaction is expected to close in the fourth quarter of 2010.
14:09
SON Sonoco Products will increase US and Canada uncoated recycled paperboard grades prices by $35/ton effective with shipments on Oct 11 (33.05 +0.11)
13:31
COMDX COMEX Metals Closing Prices
Gold futures rallied for $24 to end at $1271.10, silver ended up 27.9 cents to $20.43, while copper shed 1.05 cents to close at $3.4685 (all Dec contracts).
13:30
CASY Casey's General in letter to Couche-Tard confirms $38.50/share offer from Couche-Tard does not serve as basis for discussions (44.24 +0.26)
13:20
ZIGO Zygo announced that its Optical Systems Division has been awarded a $4.7 mln continuation contract (8.61 +0.15)
Co announced that its Optical Systems Division has been awarded a $4.7 mln continuation contract for Advanced Helmet Mount Displays from L-3 Communications (LLL), Link Simulation and Training Division in support of two new programs from the United States and Australian Air Forces.
13:06
SLE Sara Lee provided overview following analyst day event (13.95 -0.15)
Co stated "in FY12, the elimination of more than half of the FY11 Household and Body Care-related stranded overhead, a decline in amortization of $35 mln and further share repurchases will lead to an anticipated positive earnings per share impact of $0.15-0.20. Co has bought back $360 mln of shares of common stock in the first quarter of FY11... ~390 positions will become redundant in the next three years, leading to a total labor cost reduction of ~EUR30 mln by FY13... Co noted that Project Accelerate has provided cumulative benefits of ~$180 mln to date, and is expected to drive a cumulative benefit of $350-$400 mln by the end of FY12."
13:01
BBY Best Buy expands Apple (AAPL) iPad availability to all U.S. stores Sept. 26 (36.93 +0.28)
Co announced that it will expand availability of the Apple iPad with Wi-Fi and Wi-Fi +3G models to all 1,093 U.S. stores beginning Sept. 26. Best Buy is a preferred channel partner for the Apple iPad, now selling the popular device online and through Apple Shop locations within 673 Best Buy stores.
12:54
SPY S&P +2.8 and Nasdaq Comp +12 slip back slightly in midday trade after morning rally paused just shy of range top/Aug highs -- Dow +22 -Update- -Technical-
12:50
MCK McKesson sets new high of 59.97, hovering just under its eight day range top/20 ema at 60.03/60.05 (59.92 +1.22) -Technical-
12:41
SLM Volume Alert -- SLM Corp drops to fresh lows on a pick up in volume, losing over 1 pt during the past 20 mins (11.27 -0.80) -Technical-
Stock is probing its 200-day ema right here at $11.28
12:40
GDX Global, sector, & commodity ETF money flows- Metals & Mining space (GDX, GDXJ, PALL) continue to lead all sectors here @ midday; Natural gas (UNG) the weakest commodity while Financials/Banks (KBE, KRE) continue to underperform -Technical-
Actively Traded Leading Global, Regional, & Domestic Sector ETFs:
gold/silver miners- GDX +4.50%, GDXJ +4.50%, palladium- PALL +4.0%, platinum- PTM +2.75%, PPLT +2.50%, airlines- FAA +2.75%, sugar- SGG +2.75%, US retailers- XRT +2.50%, RTH +1.50%, silver- SLV +2.50%, semis- XSD +2.25%, IGW +2.25%, SMH +22.0%, solar power- TAN +2.25%, gold- GLD +2.0%, IAU +2.0%, coffee- JO +2.0%, cocoa- NIB +2.0%
Actively Traded Lagging Global, Regional, & Domestic Sector ETFs:
Thailand- THD -1.75%, natural gas- UNG -1.0%, VIX vol index- VXZ -1.0%, VXX -0.75%, regional banks- KRE -1.0%, RKH -1.0%, US Dollar index- UUP -1.0%, commercial banks- KBE -1.0%, Russia- RSX -0.50%, oil drillers OIH -0.50%, financials- XLF -0.50%, IYF -0.50%
12:32
HOLX NASDAQ 100 (NDX) strength & weakness- Healthcare name (HOLX) remains the best percentage gainer here @ midday -Technical-
NDX 10 Best % Performers:
HOLX, LRCX, URBN, AMAT, XLNX, ALTR, ILMN, CSCO, KLAC, MXIM
NDX 10 Worst % Performers:
CMCSA, CERN, EBAY, YHOO, VMED, CELG, MAT, VRSN, ESRX, CEPH
NASDAQ A/D @ 1:1
NASDAQ TRIN @ +0.55
12:29
HPQ Dow 30 (DJX) strength & weakness- Technology (CSCO, HPQ) remains strong here @ midday; Financials/Banks (AXP, BAC) still weak -Technical-
DJX 5 Best % Performers:
HPQ, CSCO, INTC, WMT, MRK
DJX 5 Worst % Performers:
BAC, BA, AXP, MCD, DIS
NYSE A/D @ +1.5:1
NYSE TRIN @ +0.90
12:26
UUP Dollar Index extends technical breakdown -Technical-
(Click for daily Dollar Index chart).
12:16
TOL Toll Brothers CFO, Joel Rassman, passed away this morning (18.80 +0.12)
12:07
XLF Financial Select Sector SPDR lagging sector edges back to its session high at 14.81 (14.81 -0.03) -Update- -Technical-
Note that its 200 sma and yesterday's five week high are slightly above at 14.84/14.88.
12:03
European Markets Closing Prices
European markets are now closed; stock markets across Europe performed as follows: UK's FTSE: +0.0% Germany's DAX: +0.2% France's CAC: +0.2% Spain's IBEX: +0.4% Portugal's PSI: +0.3%
12:02
CSCO Cisco Systems flirts with its 50 ema at 22.06 after analyst day comments and pauses -- session high 22.17 (21.83 +0.57) -Update- -Technical-
If follow through can develop, its 50 sma and the 50% retracement of the Aug decline are at 22.33/22.34.
12:00
SPY Stock indices edge to minor new session highs -- Dow +41, S&P +4.7, Nasdaq +13.8 -Update- -Technical-
11:45
YUM YUM! Brands announces 19% increase in quarterly dividend from $0.21 to $0.25 (46.08 +0.54)
11:39
COMDX Dec gold ticks to new highs at $1274.50; now up $27 to $1274.10
11:37
XRT SPDR Retail notches new high (40.35 +0.81) -Technical-
Noted the XRT test of its early Sep peak at 39.31 yesterday with the data this morning providing a secondary boost to the breakout. The upside extension has probed the 50% retracement of the April to July slump at 43.30 with the Mid-June reaction high at 40.76. Stocks in the sector providing leadership today include: PCLN +1%, FL +4.5%, JOSB +2.2%, PLCE +2.6%, GME +1.5%, FDO +1%, ANF +4.3%, LTD +2.4%, GPS +3.6%, JCG +2.4%, JCP +7.6%, TGT +1.5%, AAP +1.2%, ARO +1.6%.
11:32
PCAR PACCAR increases quarterly dividends by 33% to $0.12 from $0.09 per share, payable 12/6/2010 (45.42 -0.02)
11:25
KRE KBW Regional Bank ETF weaker but off low (22.83 -0.24) -Technical-
The sector provided upside leadership yesterday but has been a laggard thus far this morning. However, the early decline held at the recently penetrated week long range top at 22.66/22.55 (session low 22.63) early on with it running to a intraday rebound high of 22.91 before pausing. For the very short term watching support at 22.72. A continued hold above/at and sustained gains above 22.90/22.95 neutralizes a potential weaker pattern which would set the stage for a follow through attempt which would be a constructive development for the overall market -- BOH, CVBF, FMER, FULT, MBFI, ONB, PACW, SBNY, SIVB, UMPQ.
11:17
CUR Neuralstem announced that its spinal cord stem cells survived in rat brains affected by stroke (2.32 -0.02)
Co announced that its spinal cord stem cells survived in rat brains affected by stroke and differentiated predominantly into neurons. The transplanted animals showed significant improvement in some motor skill and strength measurements.
11:13
SPY Stock indices continue push off early low above yesterday's highs -- Dow +21, S&P +2.2, Nasdaq +8.1 -Update- -Technical-
Sectors that have provided leadership on the recovery include: Semi/Technology SMH / XLK, Energy XLE / OIH, Retail XRT, Disk Drive, Airline FAA, Gold Miners GDX Solar TAN, Gold GLD, Coal KOL, Steel SLX.
11:10
AET Aetna wins contract for Illinois managed medicaid pilot program (30.34 -0.10)
Aetna Better Health of Illinois will administer Medicaid benefits for Illinois residents enrolled in the state's new managed Medicaid pilot program for Older Adults and Adults with Disabilities. Aetna Better Health will begin providing services in Illinois on January 1, 2011.
10:59
QQQQ Nasdaq Comp +5 and S&P +1 extend bounce off 200 sma to new session highs -Update- -Technical-
Noted in The Technical Take that a hold near the 200 sma would leave the averages in position for a follow through attempt. Both tested and held at 200 sma early this morning with a steady rise to new highs in recent trade. The Nasdaq Comp has edged just above yesterday's peak at 2289 (session high 2291) with its July - Aug highs coming into play at 2307/2309. The S&P is hovering slightly under yesterday's high of 1123.87 (session high 1123.01). Its multi-month range close high is at 1127 with the June and Aug intraday highs 1129/1131.
10:54
PTV Pactiv Corp to invest nearly $12 mln to increase capacity for its line of expanded polystyrene food processor trays (32.36 +0.03)
Co scheduled the final phase of a nearly $12 mln equipment upgrade to increase capacity for its line of expanded polystyrene food processor trays. The two-year program--to update selected extrusion, thermoforming, padding, and packaging equipment in four manufacturing locations--is expected to be complete in early 2011 to meet anticipated customer demand.
10:50
KOL Market Vectors Coal ETF notches new session high near yesterday's peak at 35.35 (35.35 +0.17) -Technical-
Some modest early weakness but KOL held at its 200 sma on a check back (similar to S&P 500) and has run to a new session high of 35.35. Yesterday's five week peak is at 35.35 with the four month high from Aug at 35.62. Its Mid-May reaction high is slightly above at 35.90 -- ACI, ANR, CNX, JOYG, BTU, WLT, BUCY, MEE.
10:45
HOG Harley-Davidson will keep production operations in Wisconsin (27.55 +0.26)
Co will keep production operations in Wisconsin, following yesterday's contract votes by Wisconsin unionized employees. The decision follows Monday's ratification of three respective new seven-year labor agreements by employees and take effect in April 2012... Co expects to have about 700 full-time hourly unionized employees in its Milwaukee-area facilities when the contracts are implemented in 2012, about 250 fewer than would be required under the existing contract. The new contracts are expected to generate about $50 mln in annual operating savings in 2013, the first full year of the agreements. The Company expects to incur approximately $85 mln in additional restructuring charges related to the new contracts through 2012, of which about $55 mln will be cash charges. When fully implemented, co expects previously announced restructuring activities, together with the implementation of the new contracts at the Wisconsin operations, to result in one-time charges of $515 mln to $545 mln, and annual ongoing savings of $290 mln to $310 mln. In 2010 on a combined basis, Harley-Davidson expects to incur restructuring charges of $225 mln to $245 mln and to generate related savings of approximately $135 mln to $155 mln.
10:40
GDX Global, sector, & commodity ETF money flows- Metals & Mining space (GDX, GLD, SLV) leads al groups through today's 1st hour of trading, Thailand (THD) the weakest performing global play; Financials/Banks KBE, KRE) notable domestic laggards -Technical-
Actively Traded Leading Global, Regional, & Domestic Sector ETFs:
gold/silver miners- GDX +4.50%, GDXJ +4.25%, palladium- PALL +3.25%, silver- SLV +2.50%, coffee- JO +2.25%, gold- GLD +2.0%, IAU +2.0%, platinum- PPLT +2.0%, PTM +1.75%, cocoa- NIB +1.50%, semis- XSD +1.50%, IGW +1.50%, SMH +1.0%, solar power- TAN +1.25%, SPDRS US retailers- XRT +1.50%
Actively Traded Lagging Global, Regional, & Domestic Sector ETFs:
Thailand- THD -2.50%, regional banks- KRE -1.50%, RKH -1.50%, commercial banks- KBE -1.50%, agriculture & grain complex- JJG -1.0%, financials- XLF -1.0%, IYF -0.75%, iShares Singapore- EWS -1.0%, global shippers- SEA -1.0%, Russia- RSX -0.75%, copper- JJC -0.75%, Indonesia- IDX -0.75%, SPDRS homebuilders- XHB -0.75%
10:38
COMDX Silver puts in a new high at $20.55; now up 30.9 cents to $20.46
10:33
HPQ Hewlett-Packard top performing Dow component testing its 20 ema at 39.75 (39.72 +1.44) -Update- -Technical-
Note that this average capped the upside during the early Sep advance and will provide an initial read on the underlying strength of this week's bounce attempt.
10:29
HOLX NASDAQ 100 (NDX) strength & weakness- Healthcare name (HOLX) leads all percentage gainers through today's 1st hour -Technical-
NDX 10 Best % Performers:
HOLX, RIMM, FSLR, XLNX, AMAT, VRTX, LOGI, ALTR, ILMN, URBN
NDX 10 Worst % Performers:
CMCSA, MAT, APOL, FLEX, ESRX, VMED, DISH, STX, GRMN, XRAY
NASDAQ A/D @ -1.5:1
NASDAQ TRIN @ +0.60
10:28
GDX Mkt Vectors Gold Miners ETF strong extension of opening gains, nears its 52-wk intraday high (55.28 +2.28) -Update- -Technical-
Noted the early run toward its high from last week at 54.69 (09:43 update). The upside follow through on the penetration leaves the GDX near its 52-wk intraday high from last Dec at 55.40 (session high 55.28).
10:27
ATW Atwood Oceanics announces six-month contract extension for the Atwood Eagle (27.45 +0.00)
Co announced that the ATWOOD EAGLE has been awarded a six-month contract extension by Chevron Australia Pty Ltd pursuant to the existing contract. With this option exercised, the rig's current contract commitment will be extended until six months beyond the delivery of the ATWOOD OSPREY to Chevron Australia, which is anticipated to occur during the first quarter of calendar year 2011. The new dayrate for the ATWOOD EAGLE will be ~$390K.
10:27
HPQ Dow 30 (DJX) strength & weakness- Technology (CSCO, HPQ) leads the percentage gainers through the 1st hour of trading; Financials/Banks (AXP, BAC, JPM) notable laggards -Technical-
DJX 5 Best % Performers:
HPQ, WMT, CSCO, UTX, PFE
DJX 5 Worst % Performers:
BA, DIS, BAC, JPM, AXP
NYSE A/D @ -1.50:1
NYSE TRIN @ +0.90
10:09
SMH Semiconductor Hldrs ETF rebounds well off early low sets new session high of 26.01 near the early Sep peak at 26.04 (26.00 +0.11) -Update- -Technical-
ALTR +1%, AMAT +1.4%, AMD +2.1%, ATML +0.6%, BRCM +0.6%, KLAC +0.5%, LSI +0.9%, MU +2.2%, MXIM +0.7%, NVLS +0.7%, XLNX +1.4%.
10:07
CRM Salesforce.com edges off low after holding at last week's trough of 116.51 in opening trade -- session low 116.51 (117.93 -0.66) -Technical-
10:01
FICO Fair Isaac and Bull Partners announce an agreement to market solutions jointly in Latin America (24.58 -0.10)
09:57
MA MasterCard and China UnionPay signed MOU for the establishment of a mutually beneficial relationship to explore future business development (194.64 +1.66)
09:55
SPY Early slide in S&P pauses at 200 sma/unch for the year at 1115 -Update- -Technical-
Noted this support earlier and have seen a test (session low 1115) and minor bounce. A similar level for the Nasdaq Comp mentioned this morning at 2273/2269 has thus far held as well (session low 2274).
09:54
TGI Triumph Group unit selected to Boeing's (BA) NewGen Tanker Team for the U.S. Air Force KC-X program (71.52 -0.64)
09:53
CALI China Auto Logistics launches CALI portal in four more cities, bringing the number of cities covered to 24 (3.10 -0.04)
09:53
APRI Apricus Biosciences announces pre-clinical results showing the ability of the NexACT Technology to enable rectal delivery of biologics (2.76 +0.35)
Co announced results from a pre-clinical pharmacokinetic study showing the ability of NexACT to enable rectal delivery of biologics, such as human antibodies. Specifically, data from the study showed that rectal delivery of Rituxan, formulated with NexACT, yielded similar blood levels of the antibody, as compared to delivery via subcutaneous route. Rituxan is currently marketed by Genentech and Biogen IDEC (BIIB). The drug is prescribed to treat Non-Hodgkin's Lymphoma (NHL), Chronic Lymphocytic Leukemia (CLL) and Rheumatoid Arthritis (RA) and is delivered either subcutaneously or via three cycles of intravenous infusions in a hospital setting.
09:48
GPN Global Payment joint venture with The Hongkong and Shanghai Banking Corporation has become first foreign payment card processor to launch China UnionPay card acquiring service in China (40.40 -0.15)
09:47
DD DuPont issues press release with highlights from recent conference call (42.55 -0.25)
Co expects its Agricultural & Nutrition segment to close 2010 with solid sales and earnings growth. Co noted that 2010 harvest results are just starting to roll in and DuPont expects the performance will please growers. "We remain confident about 2011 based on our strong line-up of new products, including AcreMax 1 and AcreMax RW for seeds, Plainview(TM) herbicide, and many other exciting innovations."
09:45
OICO O.I. Corporation resumes trading (12.11 +3.71) -Update-
09:43
COMDX Gold puts in new all-time highs in continuous contract at $1267.50; now up $19.70 to $1266.80
09:43
GDX Mkt Vectors Gold Miners ETF displays early strength runs to new high of 54.41 (54.41 +1.40) -Technical-
The GDX high from last week, its June peak and the 52-wk close high from last Dec is at 54.69/54.83. Gold GLD is up 1.4%, Silver SLV has railed 1.9%-- AEM, AU, ABX, FCX, GFI, GG, HMY, KGC, NEM, BVN, AUY, EGO.
09:42
COMDX Dec gold futures put in fresh highs at $1263.70; now higher by $16.60 to $1263.70
Note that the all-time high in the continuous contract is $1266.50.
09:39
SPY Stock indices back flirting with 200 sma and flat line for the year -Update- -Technical-
This comes into play at 1115 S&P and 2273/2269 Nasdaq Comp.
09:38
GGR Geoglobal Resources signs memorandum of understanding in Colombia (0.65 +0.06)
Co announced that a Memorandum of Understanding (MOU) has been signed with Petro Caribbean Resources relating to conducting oil and natural gas exploration and development activities in Colombia, subject to the execution by PCR of definitive agreements with the Colombian National Agency of Hydrocarbons.
09:37
SPY Weaker start for market indices with indices mildly extended lower amid Energy, Finance, Semi, Housing relative weakness -Update- -Technical-
Dow -22, S&P -3.3, Nasdaq Comp -5.8.
09:36
GNBT Generex Biotech announces distribution agreement for Generex Oral-lyn in Chile (0.41 +0.01)
Co announced that it has entered into an exclusive Product Licensing & Distribution Agreement with PMG S.A. for the registration, marketing, distribution and sale of Generex Oral-lyn, the Company's proprietary buccal insulin spray product, in Chile.
09:33
ALKS Alkermes confirms posting of briefing documents for FDA Advisory Committee meeting for VIVITROL for opioid dependence (14.49 +0.19)
Co announced that FDA has posted on its website briefing documents for the September 16, 2010, Psychopharmacologic Drugs Advisory Committee meeting to review Alkermes' supplemental New Drug Application (sNDA) for VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of opioid dependence. The PDUFA action date for the VIVITROL sNDA is October 12, 2010. The Advisory Committee meeting is scheduled for 8:30 a.m. ET on September 16, 2010.
09:32
ANF Abercrombie firmer start and breaks above 50 ema/sma, hovering modestly below its 200 ema and 4 wk range top at 36.68 and 37.15 (36.25 +0.77) -Technical-
09:25
UBA Urstadt Biddle Prop announces pricing of its underwritten offering of 2.5 mln shares of Class A common stock, resulted in ~$45.1 mln of proceeds to co before offering expenses (19.31 )
09:25
OICO O.I. Corporation and ITT Corporation (ITT) entered into a definitive agreement for ITT to acquire all outstanding shares of O.I. Corporation for ~$29 mln or $12/share (8.40 +0.59)
OICO's Board of Directors has unanimously approved the transaction, which is subject to approval from OI's shareholders and other closing conditions, and is expected to close in late 2010. Under the terms of the agreement, O.I. Corporation will become a subsidiary of ITT, doing business as OI Analytical. ITT will purchase all outstanding shares of OI for $12 per OI share. Additionally, OI is permitted to pay its shareholders a one-time special dividend of up to $0.50 per share immediately prior to the closing of the acquisition. OI management believes that, based on the current cash position and projected cash flows, there will be sufficient cash on hand to pay the special dividend at the rate of $0.50 per share. Further, OI's regular fourth-quarter dividend of $0.05 is permitted to be paid, assuming its declaration date occurs prior to the closing of the merger. There is no assurance that any such dividend will be declared or be paid. (OICO is halted)
09:24
UBA Urstadt Biddle Prop announced the pricing of 2.5 mln shares of common stock that resulted in approx $45.125 mln of proceeds (19.28 )
The Company intends to use the net proceeds to reduce amounts outstanding under its existing credit lines, depending on interest rates and other costs of financing, and acquire income-producing properties consistent with its current business strategy and to fund renovations on, or capital improvements to, its existing properties, including tenant improvements, or for general corporate purposes.
09:21
DGW Duoyuan Global Water to initiate a pre-emptive independent third party review of the accounting, internal controls and corporate governance (12.10 )
Co announces The Board of Directors voted unanimously to take proactive action following a recent announcement by DYP that may have been perceived to involve the co as Wenhua Guo (the Company's Chairman and CEO) is also DYP's Chairman of the Board and its largest shareholder. While there are presently no known accounting or corporate governance issues to be reviewed and the co consistently has received unqualified audits from Grant Thornton for four successive years, the co's Board of Directors is of the opinion that the appointment of an independent third party is necessary to ensure the highest level of transparency and accountability.
09:17
BLD Baldwin Technology wins multimillion dollar newspaper project (1.15 )
Co announces that it has received an order for the Express Newspapers Group valued at over $2 mln.
09:17
FISV Fiserv announces public offering of senior notes due 2015 and 2020 (53.36 )
Co intends to use the net proceeds of the offering to fund a tender offer for up to $250 mln of its 6.125% senior notes due 2012 and to use the remaining net proceeds to repay a portion of its outstanding borrowings under its term loan credit facility.
09:14
GLW Corning lowers Q3 glass demand expectations at BofA/Merril Conf (16.81 )
GLW CFO at BofA/Merrill COnf: "Our current view of the LCD market is that the supply chain is in the midst of an inventory correction and that our third-quarter glass demand will be lower than what we originally expected," In July, the co said it expected panel manufacturers to moderate third-quarter production, while glass demand would remain consistent with the previous quarter. The co now anticipates its total third-quarter glass volume will be down about 5% from a very robust Q2. The co has no change to its glass pricing expectations for the quarter. Flaws will explain that the co has seen downward adjustments in panel utilization rates, mainly by Taiwanese and Japanese manufacturers. As a result, glass demand in Corning's wholly owned business will be down about 25% QoQ. However, SCP is expected to be up 5% due to continued strong production levels at Korean panel manufacturers. Co reaffirms FY10-12 glass demand outlook.
09:07
NUE Nucor issues downside Q3 EPS guidance (40.66 )
Co issues downside guidance for Q3 (Sep), sees EPS of $0.05-0.10 vs. $0.30 Thomson Reuters consensus. Ex-LIFO, Q3 performance is an improvement over Q1 but down significantly from Q2 due to lower margins caused by higher scrap costs and the inability to pass along these price increases. Projected third quarter results include an estimated LIFO charge of $67 mln, up from the estimated $45.5 mln charge previously. "We stated in our qualitative guidance given in late July that 'the continuation of the upward trend experienced through the first half of the year is by no means clear at present. There is a general slowdown taking place across all product lines as the overall economy has entered into a new period of uncertainty.' Our Q3 results will unfortunately confirm these concerns, and a general slowdown has indeed occurred from second quarter, particularly in our flat rolled business. As expected, the most challenging markets for our products continue to be those associated with residential and non-residential construction, which continue to show little, if any, strength. This is particularly true for our downstream businesses."
09:06
On the Wires
LoopNet (LOOP) announced the acquisition of LandsofAmerica. Terms of the transaction were not disclosed. LoopNet does not currently expect the acquisition to have a material impact on its 2010 financial results...OfficeMax (OMX) and E&I Cooperative Purchasing recently announced a new five-year contract for office supplies. Northrop Grumman (NOC) announced that it intends to bid as prime contractor in the competition for the U.S. Missile Defense Agency (MDA) Objective Simulation Framework (OSF), which will integrate MDA's modeling and simulation architectures. OSF is expected to be awarded in May 2011 as an indefinite delivery/indefinite quantity contract with an estimated program value of $850 million...KBR (KBR) announces that it has been awarded a contract to provide engineering, procurement management and construction management (EPCM) for the Hope Downs 4 iron ore mine in remote Western Australia. The scope of the project is valued at $1.285 bln. The project is part of a joint venture between Rio Tinto and Hancock Prospecting.
09:02
SHIP Seanergy Maritime CEO Dale Ploughman purchased 50,000 common shares at $1.06 (1.05 )
08:59
HTLD Heartland Express announces special dividend of $1.00 per share; also announces declaration of a regular quarterly $0.02/share cash dividend (15.68 )
08:52
SPY No follow-through for futures on the heels of the better Retail Sales data... (112.72 )
After moving to pre-mkt highs immediatedly after the Retails Sales data was released, futures have since pulled back to levels seen just before the release... S&P futures now -2 vs. fair value, DJ futures -9.
08:50
KR Kroger beats by $0.05, reports revs in-line; reaffirms FY11 guidance (21.04 )
Reports Q2 (Jul) earnings of $0.41 per share, $0.05 better than the Thomson Reuters consensus of $0.36; revenues rose 6.0% year/year to $18.8 bln vs the $18.72 bln consensus. Excluding fuel sales, total sales increased 3.3% in Q2 YoY. Identical supermarket sales, without fuel, increased 2.7% in the second quarter over the same period last year. Co reaffirms guidance for FY11, sees EPS of $1.60-1.80 vs. $1.74 Thomson Reuters consensus, with identical supermarket sales ex-fuel +2-3% YoY; co still expects to invest ~$1.9-2.1 bln in capital projects.
08:48
NWK Network Equip receives award for Marine Corps equipment installation for $1.4 mln (3.26 )
08:47
TWGP Tower Group to offer $135 mln of convertible sr notes through private offering; expects to use approximately $50 mln of the net proceeds of the offering to repurchase shares of its common stock (22.16 )
08:45
ORBT Orbit Int'l's Power Group receives new order valued at $1,742,000 (3.33 )
Co announces that that its Power Group, Behlman Electronics, has received a $1,742,000 order for its COTS Division. This new award is for a COTS power supply used in a U.S. Naval anti-submarine and anti-ship surveillance and targeting system.
08:39
On the Wires
Vermillion (VRML) announced that the USPTO has issued a notice of allowance for a patent entitled "B2-microglobulin as a biomarker for peripheral artery disease" to the company. FreeSeas (FREE) it has entered into shipbuilding contracts for the construction of two Handysize dry bulk vessels of approximately 33,600 dwt each for an aggregate purchase price of approximately $48.8 mln. Pitney Bowes's (PBI) wholly owned subsidary, Pitney Bowes Management Services, has established a strategic reseller agreement with IMERGE Consulting to support PBMS consulting opportunities in records and information management as part of its Document Processing Solutions offering. Rodman & Renshaw (RODM) announced that it has reached preliminary agreement with Financial Regulatory Authority on terms for its acquisition of specified assets related to the OTC Bulletin Board, which is currently operated by FINRA.
08:33
AVNR Avanir Pharmaceuticals announces Phase III STAR trial results published in Annals of Neurology (2.70 )
Co announced the electronic publication of the results of the pivotal Phase III STAR trial of its investigational drug AVP-923 (dextromethorphan/quinidine) in the Annals of Neurology. The publication entitled "Dextromethorphan Plus Ultra-Low-Dose Quinidine Reduces Pseudobulbar Affect" evaluated two low dose formulations compared to placebo in the treatment of pseudobulbar affect (PBA) in patients with underlying amyotrophic lateral sclerosis (ALS) or multiple sclerosis (MS). "Outbursts of crying or laughter at inappropriate times can have a severe impact on patients," said study author Erik P. Pioro, MD, PhD, FRCPC, Director of the Section for ALS and Related Disorders at the Cleveland Clinic in Cleveland, Ohio. "In the STAR trial, both doses of AVP-923 markedly reduced the frequency and severity of PBA episodes with satisfactory safety and tolerability. The findings expand the clinical evidence that AVP-923 may someday be an important treatment option for neurologic patients suffering from PBA."
08:32
HOLI HLS Systems won the bidding to supply its ground-based high-speed rail signaling system for the Qinhuangdao-Shenyang high-speed railway line; contract valued at approx $11.8 mln (10.03 )
Co announces that it has won the bidding to supply its ground-based high-speed rail signaling system for the Qinhuangdao-Shenyang high-speed railway line. The contract value totaled ~$11.8 mln, or RMB 79.5 mln. Qinhuangdao-Shenyang Line connects Qinhuangdao in Hebei province and Shenyang in Liaoning province, with 404 km in total length. The project is scheduled to be completed in Dec 2010.
08:32
ACE ACE Limited to acquire Rain and Hail Insurance Service in $1.1 bln (56.68 )
Co announces that it has signed a definitive agreement to acquire all of the outstanding common stock of Rain and Hail Insurance Service not currently owned by co for ~$1.1 bln in cash. Co currently owns ~20% of the outstanding common stock and will continue to operate as a separate and distinct franchise within the co. Co states transaction will be immediately accretive to earnings, return on equity and book value per share.
08:32
XWES World Energy signs alliance with Caterpillar (CAT) dealer, Alban Engine; Lands Rights to Auction 1,500+ MW of Demand Response (2.95 )
Co announces a strategic agreement in the world of demand response -- an alliance with Alban Engine Power Systems that provides World Energy the opportunity to auction over 1,500 MW of load Alban Engine currently has under maintenance service contracts. Under the agreement, Alban Engine, an authorized Caterpillar dealer, will offer demand response as part of its premium service package for customers. Providing demand response to customers with an established sales and service relationship is a logical extension of Alban Engine's service capabilities, and its agreement with World Energy represents that next step. Alban Engine will identify and solicit customers to participate in its demand response programs, working with World Energy to auction their load within the demand response marketplace.
08:31
AZK Aurizon Mines reports on progress on the feasibility study on its Joanna project near Rouyn, Quebec (6.31 )
The testwork completed to date indicates that the estimated overall gold recoveries, utilising the Albion process, would be 85.1%, compared to 86.8% estimated in the Pre-Feasibility Study. The presence of a large quantity of pyrrhotite in the Hosco ore results in increased oxygen consumption, and the presence of biotite and albite in the concentrate results in increased acid consumption. These factors would have an adverse impact on operating costs. Co has decided to evaluate three alternative recovery processes whilst continuing to review potential improvements to the Albion process as it is applied to the Hosco mineralogy. In particular, a detailed study will be performed to estimate the recoveries and reagent consumption utilising an autoclave. As a result of the additional metallurgical testwork, completion of the Feasibility Study will be delayed until mid 2011.
08:31
PL Protective Life to acquire United Investors Life Insurance for a purchase price of approximately $316 mln; expected to contribute between $0.15 and $0.20 to PL's EPS in 2011 (21.11 )
Co announces that its principal subsidiary, Protective Life Insurance, has signed an agreement to acquire United Investors Life Insurance from Liberty National Life Insurance for a purchase price of approximately $316 mln, including statutory capital and surplus of approximately $130 million at closing. Liberty National is a subsidiary of Torchmark (TMK). The acquisition is expected to contribute between $0.15 and $0.20 to Protective's earnings per diluted share in 2011, net of the effect of integration and transition costs. The earnings per diluted share impact is expected to be between $0.18 and $0.22 in 2012.
08:31
LEAP Leap Wireless adopted tax benefit preservation plan intended to preserve the long-term value of net operating loss carryforwards (11.16 )
08:26
COMDX Gold futures trade back above the $1260 level to put in highs at $1261.00; now higher by $13.30 to $1260.40
08:18
FORM FormFactor appoints Tom St. Dennis as CEO (7.52 )
Co announces the appointment of Tom St. Dennis as its CEO, and as a member of the Board of Directors. Both appointments effective 9/13/10. Most recently he was a SVP at Applied Materials where he was General Manager of the Silicon Systems Group.
08:15
On the Wires
Tennant Company (TNC) revealed a significant agreement for the innovative Green Machines 500ze at the Premier Industry Event, IFAT 2010...Apollo Group (APOL) announces a two-year partnership with Stanford University to conduct research as part of the Media X program, which studies the impact of information and technology on society. Blackbaud (BLKB) announced that the University of North Carolina at Chapel Hill will use Blackbaud Enterprise CRM to gain a more comprehensive view of its constituents' relationships to UNC across several units and schools while increasing fundraising revenue, and reducing costs and data silos. Intel Capital, Intel Corporation's (INTC) global investment organization, continued its strong commitment to fostering entrepreneurship in the United States with the announcement of four investments totaling over $30 million. The deals include Moab unified automation intelligence technology provider Adaptive Computing; analog IC physical design software developer Ciranova; cloud computing infrastructure and services provider Joyent; and energy software and services provider Nexant. Cabela's Incorporated (CAB) announced it renewed its $350 mln commitment under an outstanding series of variable funding notes issued by Cabela's Credit Card Master Note Trust. The commitment is for one year. iGo (IGOI) awarded two additional United States Patents relating to its novel approach to reducing wasted standby power, commonly referred to as "vampire power." A fifth patent related to iGo Green Technology is expected to issue on September 21, 2010. Orange and Nokia (NOK) announced a new integrated Ovi service that gives Orange customers using Nokia handsets easier access to more content. Nokia's Ovi Store with Orange will be accessible by Orange customers in the UK and France in 2011. Boeing (BA) announces it assembled the first 747-8 forward fuselage. The 89-foot, 2-inch (27.2 meters) fuselage section, featuring the airplane's signature upper deck, was moved from the assembly tool for sealing and testing before beginning systems installation.
08:11
WNC Wabash Natl prices 9.35 mln share common stock offering at $6.75 to Selling Securityholder (7.39 )
08:09
BBY Best Buy beats by $0.16, misses on revs; raises FY11 EPS above consensus, lowers FY11 revs guidance, in-line (34.65 )
Reports Q2 (Aug) earnings of $0.60 per share, $0.16 better than the Thomson Reuters consensus of $0.44; revenues rose 2.9% year/year to $11.34 bln vs the $11.54 bln consensus. During 2Q11, the co repurchased ~$600 mln, or 17 mln shares of its common stock at an average price of $34 per share. The co believes that its domestic market share declined 50 bps vs. the comparable period last year for the three months ended July 2010. The co noted that it continues to expect to increase its market share for the full fiscal year. The revenue gain was driven primarily by a 4% increase in comparable store sales and the impact of net new stores in the past 12 months. Co issues mixed guidance for FY11, raises EPS to $3.55-3.70 from $3.45-3.60 previously, vs. $3.36 Thomson Reuters consensus, due to "strong operating margin performance in 1H11 and share repurchases"; sees FY11 revs of ~$52.0 bln vs. $52.03 bln Thomson Reuters consensus, vs. $52-53 bln previously.
08:09
PHI (PHII) announces private offering of $300 mln in senior notes due in 2018 (14.51 )
08:07
CHINA CDC Corp to launch a private equity RMB Fund with the China government (4.23 )
Co has signed a memorandum of understanding to jointly establish a private equity fund, "Foshan Nanhai-CDC Technology and New Media Fund," initially funded at 600 million RMB, with the government of Nanhai District, Foshan, a city located in south China's Guangdong Province.
08:07
CRED Credo Petroleum confirms actual initial rate on record-setting well: Bakken well flows at average early 24-hour peak rate of 2,278 BOEPD (8.48 )
08:05
WBMD WebMD Health announces final results of its tender offer; has accepted for purchase 3 mln shares of its common stock at a purchase price of $52.00 per share (50.36 )
08:04
ARTX Arotech's MDT Armor and Textron Marine & Land Systems (TXT) unit agree to market, design and manufacture the Tiger light protected vehicle (1.71 )
Textron Marine & Land Systems, an operating unit of Textron Systems, a Textron (TXT) company, and MDT Armor, a division of ARTX, announced a teaming agreement to market, design and manufacture the Tiger light protected vehicle.
08:03
MDM Mountain Province Diamonds announced the receipt of the final draft of an independent feasibility study on the Gahcho Kue diamond project (4.24 )
Co announces the receipt of the final draft of an independent feasibility study on the Gahcho Kue diamond project located in Canada. The results indicate: IRR exceeds the minimum 15% required under the JV agreement to support a decision to develop Gahcho Kue. Base Case operating mine life of 11 years based on an average annual production of approximately 4.5 mln carats. Initial Capital Cost range CAD550-650 mln. Cash Operating Cost range CAD48-60 per tonne.
08:03
GFRE Gulf Resources provides updates on financing and acquisition strategy; plans to continue to acquire additional bromine and crude salt production assets. (7.33 )
Co provided updates on its financing and acquisition strategy. The Company's Form S-3 shelf registration statement was declared effective by the Securities and Exchange Commission on August 31, 2010. The registration statement provides the Company flexibility to offer and sell from time to time up to $120 million of securities, including equity, debt and other securities as described in the registration statement. Co stated "Acquisitions remain an important part of our growth strategy and we plan to use our common stock as currency for acquisitions, but only at levels that are accretive to our existing shareholders."
08:01
BBG Bill Barrett received drilling permits to continue activity at West Tavaputs (35.71 )
Co announces that it has received drilling permits to continue activity at West Tavaputs, Utah. The 30-day appeals period in connection with the Record of Decision on the Environmental Impact Statement for full-field development at West Tavaputs has concluded, and the Bureau of Land Management has begun issuing drilling permits that will enable co to position two drilling rigs in the area by year-end. As of year-end 2009, co's West Tavaputs project area had 324 bln cubic feet equivalent of proved and 1.3 tln cubic feet equivalent of proved, probable and possible natural gas reserves located on more than 40K acres in the Uinta Basin, Utah.
08:01
KTOS Kratos Defense and Security awarded ~$2 million safety and fire control integration contract for a Natural Gas Turbine Power Generation Plant (11.27 )
Under the contract, Kratos' Public Safety and Security (PSS) business will provide a safety and fire control system and system integration services for a new natural gas energy facility. Among other elements, Kratos will be designing, installing and integrating a Life Safety/Fire Alarm Network that will incorporate seven Nodes, multiple FM-200 Special Hazards Fire Suppression System Units and a deluge fire protection system, all of which will be integrated into a central command and control system.
08:01
ANX ADVENTRX Pharma announces 12-month stability data results for ANX-530; data are consistent with the stability data collected at 6 and 9 months and will support its submission of a NDA (2.00 )
08:00
PSTI Pluristem Therapeutics reports data from clinical trials show placenta-derived cell therapy is safe and improves quality of life and efficacy measurements (1.14 )
Co announces data from clinical trials show the co's placenta-derived cell therapy is safe and improves quality of life as well as other efficacy measurements in patients with Critical Limb Ischemia. Results included the findings that PLX-PAD cells can be administered safely as an "off-the-shelf" product without a need for matching between donor and patient. Additionally, efficacy was demonstrated across all doses with a statistically significant improvement noted in the pain score and quality of life. The intermediate dose also showed a statistically significant improvement in the Ankle Brachial Index.
07:59
NTY NBTY reports net sales for Aug decreased 7% YoY to $219 mln (54.64 )
Co announces preliminary sales for August decreased 7% YoY to $219 mln. North American Retail same store sales increased 6% for the one month period. European Retail net sales in local currency, (British Pound Sterling), remained the same and same store sales decreased 2% for the one month period.
07:55
CADC China Adv. Construction Materials announces concrete sales contracts totaling $12 mln (3.26 )
Co announces a number of contracts recently awarded to its Concrete Sales division totaling $12 mln. Last month, co announced its preliminary estimate for the fourth fiscal quarter of 2010 ended June 30 includes Concrete Sales revenue ~ doubling from $11.7 mln in the year-ago quarter.
07:40
On the Wires
Derma Sciences (DSCI) announced that patient screening in its DSC127 Phase 2 trial in diabetic foot ulcer healing will be completed tomorrow, and that enrollment in the trial will conclude on September 30. This randomized, double-blind, placebo controlled study of up to 75 patients will look at the percentage of diabetic ulcers completely healed over a 12-week period, among other outcomes. Top-line efficacy results are expected to be made public in late December 2010 or early January 2011...Gentium (GENT) announced that two posters and one oral presentation on defibrotide will be presented at the 33rd World Congress of International Society of Hematology...Boeing (BA) announced yesterday after the open that it has begun fatigue testing on the structural airframe of the 787 Dreamliner at the Everett, Wash., site. Fatigue testing involves placing the 787 test airframe into a test rig that simulates multiple lifecycles to test how the airplane responds over time...Radware (RDWR) announces it has signed Kapsch CarrierCom as a Radware reseller partner; further expanding co's foothold in the global application delivery market. By joining Radware's channel network, Kapsch will receive extensive knowledge and training for all Radware application delivery and application security product lines including the newly acquired-Alteon product line from Nortel...Acacia (ACTG) subsidiary enters into license agreement with Navtrak resolving litigation that was pending in the US District Court for the Northern District of Georgia...AECOM (ACM) awarded NASA contract worth up to $15 mln...Nokia (NOK) announced family of smartphones powered by the all new Symbian platform. Highlights include: Three new smartphones, Nokia E7, Nokia C7 and Nokia C6, which join the previously announced Nokia N8.
07:39
GMCR Green Mtn Coffee to acquire Van Houtte (35.24 )
Co announces that it has executed a Share Purchase Agreement pursuant to which co will acquire all the outstanding shares of Van Houtte from an affiliate of Littlejohn & Co for a cash purchase price of CAD915 mln or $890 mln based on the exchange rate as of 9/13/10. Co anticipates that the acquisition will be neutral to slightly dilutive to its earnings in the first 12 months after closing and accretive thereafter.
07:37
UHS Universal Health announces offering of $250 mln senior unsecured notes due 2018 (34.05 )
07:36
SGEN Seattle Genetics and Genmab entered into an antibody-drug conjugate research collaboration agreement (12.20 )
Genmab and Seattle Genetics have entered into an antibody-drug conjugate research collaboration agreement. Under the agreement, Genmab has rights to utilize Seattle Genetics' ADC technology with its HuMax-TF antibody targeting the Tissue Factor antigen, which is expressed on numerous types of solid tumors. Seattle Genetics received an undisclosed upfront payment and has the right to exercise a co-development option for any resulting ADC products at the end of Phase I clinical development.
07:31
SCOK SinoCoking resale registration statement for 7.34 mln shares of common stock and 4.04 mln common stock shares underlying warrants on form S-1 declared effective (8.55 )
07:31</p>
LIFE Life Technologies signs strategic out-licenses for recombinant protein bioproduction (47.63 )
Co announces it has finalized cell line license agreements with a number of companies for the production of recombinant proteins used as therapeutic agents and vaccines. Commercial use rights have additionally been offered to many of the hundreds of institutions already using co's proprietary cell lines for research and development.
07:28
GNVC GenVec achieved the first milestone in its collaboration with Novartis (0.48 )
Co announced that it has achieved the first milestone in its collaboration with Novartis (NVS), related to the development of treatments for hearing loss and balance disorders. The milestone was triggered by the successful completion of certain preclinical development activities. Co stated "Completion of this milestone signifies progress made in moving the potential product toward clinical development... The rapid completion of this initial milestone in our collaboration with Novartis validates our strategy to work with the best collaborators in the industry"
07:07
On the Wires
INTTRA and The Descartes Systems Group (DSGX) announced an alliance to enhance international ocean shipping processes and capabilities available to the global user community. This alliance provides a global network capable of managing the entire ocean cargo shipment lifecycle...Microsemi Corporation (MSCC) announced that it has acquired all of the assets of VT Silicon...Beacon Power Corporation (BCON) executed an interconnection agreement with the New York Independent System Operator and NYSEG enabling it to connect its frequency regulation plant in Stephentown to the grid as scheduled and begin earning revenue in the fourth quarter of this year...Delta Air Lines (DAL) confirms support of China Airlines' decision to join the SkyTeam global airline alliance by mid-2011.
07:06
Louisiana Bancorp (LABC) announces stock repurchase program to acquire up to 5% of shares outstanding (14.95 )
07:05
XJT ExpressJet and SkyWest (SKYW) receive notice of early termination of Hart-Scott-Rodino waiting period for proposed acquisition (6.62 )
07:04
CBRL Cracker Barrel beats by $0.02, reports revs in-line; guides FY11 EPS in-line, revs in-line (48.59 )
Reports Q4 (Jul) earnings of $1.14 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $1.12; revenues rose 2.8% year/year to $612.5 mln vs the $611.2 mln consensus. Q4 Comparable store restaurant and retail sales increased 2.0% and 2.6%, respectively. Co issues in-line guidance for FY11, sees EPS of $3.95-4.10, excluding non-recurring items, vs. $4.00 Thomson Reuters consensus; sees FY11 revs of +3.0-4.5% to ~$2.477-2.512 bln vs. $2.48 bln Thomson Reuters consensus, with comparable store restaurant sales increasing between 1.5% and 3.0% and comparable store retail sales increasing between 2.0% to 4.0%.
07:03
NGLS Targa Resources to acquire Targa Resources' 76.8% ownership interest in Venice Energy Services Company for total value of approximately $167.5 mln (27.18 )
Co announced that it has agreed to acquire Targa Resources' 76.8% ownership interest in Venice Energy Services, a JV that is operated by Targa. Total value of the transaction is approximately $167.5 million, subject to certain adjustments. "Management's goal is to distribute to unit holders a portion of the cash flow accretion associated with this acquisition. If the closing of this acquisition occurs in the third quarter, we plan to recommend an increase to the Board of Directors in the annualized cash distribution rate of 4 cents to $2.15 per common unit for the third quarter of 2010 distribution, compared to the current rate of $2.11 per common unit."
07:03
AUMN Golden Minerals reports additional high grade intercepts and resource expansion drilling program at El Quevar (8.44 )
Co announces additional high grade intercepts at holes drilled on the El Quevar. The co has determined that additional drilling is warranted to further define the extent of the resource before completing the feasibility report. A larger resource base may support a higher production rate than initially contemplated.
07:02
CUB Cubic unit awarded a Schedule 70 - Information Technology services supply contract by the U.S. General Services Administration (39.46 )
The five-year GSA Schedule 70 contract allows federal agencies to contract more easily with Cubic for IT software and professional services.
07:02
LIWA Lihua International reaffirms FY10 guidance; expects to increase its gross profit by 46-53% over 2009 (10.47 )
Co reaffirms its full year 2010 financial guidance based on its recent capacity expansion and positive market trends in which demand continues to outpace supply and end market uses for Lihua products remains strong. Lihua expects to increase its gross profit by 46-53% over 2009, to $52.9 to $55.7 million, and grow its non-GAAP net income by 48-57% to $38.1 million to $40.3 million. Co also announced that it has 2,000 metric tons of its new copper anode product to its recently anno domestic customer, one of the world's leading copper and metal conglom
06:58
MDAS MedAssets signs definitive agreement to acquire The Broadlane Group; $850 mln transaction expected to be accretive to co's 2011 cash EPS (21.33 )
Co announces that it has entered into a definitive purchase agreement to acquire The Broadlane Group. Together, co and The Broadlane Group would have reported non-GAAP combined net revenue of $508.9 mln and non-GAAP combined adjusted EBITDA of $161.8 mln for the year ended 12/31/2009. The Broadlane Group serves more than 1,100 acute care hospitals and 50,000 non-acute care facilities across the United States, and co serves more than 3,300 hospitals and 40,000 non-acute healthcare providers. Under the terms of the agreement, co will purchase The Broadlane Group for ~$850 mln in cash, with $725 mln to be paid at closing and $125 mln to be paid in January 2012. As part of this transaction, co expects to achieve at least $20 mln of expense-based synergies in 2011. When combined with the growth of both businesses, co expects this transaction to be approximately $0.05 to $0.10 accretive to non-GAAP diluted cash EPS in 2011, excluding acquisition-related amortization, acquisition-related expenses, acquisition-related revenue discounts and share-based compensation.
06:56
S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -5.00.
06:56
Asian Markets
Nikkei...9299.31...-22.50...-0.20%. Hang Seng...21696.04...+37.50...+0.20%.
06:56
European Markets
FTSE...5564.01...-2.60...-0.10%. DAX...6258.15...-3.50...-0.10%.
06:56
BP BP restarted relief well drilling operations (38.35 )
Co restarted relief well drilling operations from the Development Driller III (DD3) yesterday at 2:40pm ET following the successful installation of a lock down sleeve, a mechanical device that secures the MC252 well's casing hangar. The DD3 is drilling toward the MC252 well intercept point, currently about 50 feet below. Relief well operations will consist of drilling and ranging runs that will guide the rig's drill bit to intercept the well's annulus. Following the intercept, heavy drilling mud and cement will be pumped into the annular space to complete the isolation of the MC252 well.
06:35
GWR Genesee & Wyoming reports traffic for August: 73,711 carloads, an increase of 7,654, or +11.6% compared with Aug 2009 (42.54 )
06:34
GLGL GLG Life Tech announces FDA issuance of Letter of No Objection for Rebpure 97 stevia extract (7.55 )
06:31
LHO LaSalle Hotel increases quarterly dividend to $0.11 per common share of beneficial interest for the quarter ending 9/30/2010 (22.73 )
06:25
IMOS Chipmos Technology reports Aug revs increased 2.0% from June; reduces commodity dram exposure (0.92 )
Co announces revs for the month of August 2010 was NT$1,621.0 mln or $50.6 mln, an increase of 2.0% from the month of July 2010 and an increase of 45.7% from the same period in 2009. Co also announced recent efforts to reduce its commodity DRAM exposure and refinement of its niche/mobile DRAM strategic focus, under which the co reorganized its DRAM final test production line. Co also also plans to return seven high-speed DRAM testers at the end of leases saving ~$550K in monthly leasing fees.
06:23
DGI DigitalGlobe announces secondary offering of ~6 mln common stock; co will not receive proceeds (32.24 )
06:12
DYP Duoyuan Printing announces conference call to discuss recent company developments (2.99 )
Co announces that it will host a conference call to discuss the recent management changes, as well as the dismissal of Deloitte Touche Tohmatsu CPA Ltd as the Company's independent registered public accounting firm, at 8.00 am Eastern time on Wednesday, Sept 15th, 2010 (8.00pm Beijing/ Hong Kong time).
06:06
CEG Constellation Energy to add 4.4 MW of solar power at Denver International Airport (31.24 )
Co announces the development of a new 4.4 MW solar installation at Denver International Airport (DIA). Co will finance, own and operate the solar installation and DIA will purchase the electricity produced by the system from co over a 20-year period. YGE will supply the photovoltaic panels for the project.
05:15
EVR Evercore acquires a 50% interest in G5 advisors (29.35 )
Co announces it has signed a definitive agreement to acquire a 50% interest in G5 advisors. Co will pay $20 mln in cash and securities at closing, with the potential for earn out payments based on performance through 2013. The transaction is expected to be moderately accretive to earnings under a range of growth rates for the business and is expected to close in early October 2010.
05:13
FNSR Finisar and Source Photonics settle patent dispute (16.17 )
Co announces it had entered into a Settlement and Cross License Agreement with Source Photonics. Under the terms of the Settlement Agreement, Source Photonics will pay a license fee to co in the amount of $14.5 mln for a fully paid-up license to the Finisar digital diagnostics and transceiver module patents through December 31, 2015. Payment in full is to be made by September 30, 2010.
02:00
CTIC Cell Therapeutics to appeal FDA Decision on NDA for Pixantrone to treat Relapsed/Refractory Aggressive Non-Hodgkin's Lymphoma (0.39 )
Co announces that it intends to appeal the FDA's previously disclosed decision regarding the pixantrone NDA to treat patients with relapsed/refractory aggressive non-Hodgkin's lymphoma. Co had requested accelerated approval of its NDA for this patient group for which there are no currently approved drugs. Co expects the FDA decision on the appeal in the 4Q10.
01:55
CME CME Group issues statement regarding errant orders (271.03 )
Co announces that during a 6 minute period beginning at 2:38 pm (CDT) on 9/13/10, test orders that should have been posted into a quality assurance testing environment were inadvertently placed into active energy and metals markets on CME Globex. As soon as it became aware of the issue, it began working with affected customers and implemented other corrective steps. Co will keep CFTC apprised of developments related to this event.
01:47
ACE ACE Limited statement on proposed acquisition of Jerneh Insurance Berhad in Malaysia (56.68 )
Co provides statement pursuant to an announcement made by Jerneh Asia Berhad in Malaysia: The ACE Group has received approval from Malaysia's financial regulator to acquire Jerneh Insurance Berhad. The proposed acquisition price is ~$200 mln. "The addition of Jerneh Insurance Berhad will be accretive to ACE's earnings and book value per share and will meet our return-on-capital hurdle rate."
01:41
GRA W.R. Grace acquires Synthetech for $19.2 mln (27.35 )
Co announces merger with Synthetech. The aggregate purchase price for the transaction is ~$19.2 mln, less Synthetech's unpaid debt and transaction costs at closing, and subject to a minimum cash balance of $600K. The acquisition will provide co with capacity for the manufacture of specialty single-site and polypropylene catalysts used to produce plastics.
01:36
DPS Dr Pepper Snapple and RWDSU reach agreement on new labor contract in Williamson; terms were not disclosed (34.86 )
01:34
THS TreeHouse Foods acquires S.T. Specialty Foods for $180 mln (42.61 )
Co announces acquisition of S.T. Specialty Foods. Co has agreed to pay $180 mln in cash for the business plus up to an additional $15 mln in cash if the co achieves certain earnings targets for the 12 month period ending December 31, 2010. The transaction will be neutral to the co's earnings over the balance of 2010, but is expected to add between $0.11-0.13 per share to earnings on an annualized basis. The acquisition is expected to close in October.
01:25
URS URS expands and extends stock repurchase program (5.55 )
Co announces an increase and extension of the co's stock repurchase program. Under the modified program, co is authorized to repurchase, in any fiscal year during the period from January 2, 2010 through January 2, 2015, up to 3 mln shares of stock, plus the number of shares of the co's common stock equal to the excess, if any, of 3 mln shares over the actual number of shares repurchased during the prior fiscal year.
01:14
PNCL Pinnacle Airlines releases Aug Performance data (4.56 )
Co announces total passengers down 5.1%, rev per passenger up 1.4%, and load factor down 5.2 pts. For its Colgan Air subsidiary total passengers down 2.4%, rev per passenger up 6.7%, load factor up 2.8 pts.
18:35
TGA TransGlobe Energy provides mid-quarter update for Q3 2010 (7.91 +0.21)
Co reports that highlights include: Continued success in an expanding Nukhul development at West Gharib; New field discovery at East Arta #4; Record production in August of 10,204 barrels of oil per day; Five rigs currently working on TransGlobe properties in Egypt and Yemen, Rig contracted for drilling on the Nuqra Block in Q4 2010, and TransGlobe added to S&P/TSX Small Cap Index.
18:31
KEG Key Energy Services provides August 2010 activity data; total rig hours during August 2010 were up 5.8% compared to July 2010 (8.86 +0.10)
18:31
GTSI GTSI's Board of Directors rejects unsolicited proposal from Eyak Technology, LLC of $7/share (6.89 +1.71) -Update-
18:30
RURL Rural/Metro awarded 2-year extension of exclusive 911 ambulance contract in Orlando, Florida (8.50 -0.02)
Co awarded a two-year extension of its exclusive 911 ambulance services contract for the City of Orlando, Florida on a unanimous vote of the Orlando City Council.
18:30
GLD December gold is slightly in the red after hours, sitting at $1247.00 per ounce (121.62 -0.11)
18:29
USO October crude oil is just above the unchanged line in after hours trading; currently +0.01 at $77.20 per barrel (34.03 +0.26)
18:09
KOOL Thermogenesis (currently trades under KOOLD) regains compliance with NASDAQ listing rules (2.07 +0.03)
18:08
CLF Cliffs Natural Resources updates full-year 2010 North American coal outlook (67.55 +2.02)
Co announced that it is updating its full-year 2010 North American Coal outlook to include the Co's recent acquisition of INR Energy's coal operations and to adjust the production outlook for its legacy coal operations in West Virginia and Alabama. CLF indicated it now expects total full-year 2010 North American Coal sales volume of 3.9 mln tons, with an approx. sales mix of 3.4 mln tons metallurgical and 500,000 tons thermal.
18:06
THM International Tower Hill Mines: Management anticipates continuing to refine and improve project economics reagarding Livengood Gold Project, Alaska (5.94 -0.07)
announce results from the next phase of its Project Enhancement Options within its independently prepared Preliminary Economic Assessment (PEA) for the Livengood Gold Project, Alaska. Management anticipates continuing to refine and improve project economics as additional information becomes available. The results from this phase of the Co's PEA report highlight two important alternatives under consideration for the potential development of the Livengood gold deposit.
18:04
Futures are higher after hours: S&P 500 futures are +2.38 from fair value of 1116.82 and Nasdaq100 futures +0.63 points from fair value of 1919.62
17:50
FUL H.B. Fuller misses by $0.06, misses on revs; guides Q4 revs in-line (21.00 +0.50)
Reports Q3 (Aug) earnings of $0.38 per share, excluding non-recurring items, $0.06 worse than the Thomson Reuters consensus of $0.44; revenues rose 7.4% year/year to $338.6 mln vs the $348.5 mln consensus. Co issues in-line guidance for Q4, sees Q4 revs of $360-365 mln vs. $362.04 mln Thomson Reuters consensus.
17:47
IRWD Ironwood Pharma 18.1% higher at $11.50 after hours following positive drug news (See 17:41 comment) (9.74 +0.28) -Update-
17:45
CPTS Conceptus signs exclusivity agreement with VirtaMed AG to supply the EssureSim Hysteroscopic Simulator (14.33 +0.30)
Co has entered into a mutually exclusive agreement with VirtaMed AG as its exclusive supplier for virtual reality training of the hysteroscopic procedure that deploys Essure. The establishment of this strategic partnership will enable Conceptus to be the only company in the field of hysteroscopic permanent birth control with a photorealistic, high fidelity VirtaMed training simulator.
17:41
IRWD Ironwood and Forest announce positive linaclotide results from Phase 3 trial in patients with irritable bowel syndrome with constipation (9.74 +0.28) -Update-
Ironwood Pharmaceuticals (IRWD) and Forest Laboratories (FRX) announced positive top-line results from the first of two Phase 3 clinical trials assessing the efficacy and safety of the investigational drug, linaclotide, in patients with irritable bowel syndrome with constipation (IBS-C).
17:36
XJT ExpressJet reports August 2010 performance (6.62 -0.03)
During the month, ExpressJet revenue passenger miles (RPM) totaled 878 million, and available seat miles (ASM) flown were 1,088 million. ExpressJet's August load factor for Partner Flying was 80.7%. The company flew 68,581 block hours and operated 39,850 departures during the month as Continental Express and United Express. During August 2010, ExpressJet operated 206 aircraft as Continental Express and 32 aircraft as United Express.
17:35
GLG GLG announces tender offer for outstanding warrants (4.48 +0.01)
Co announced that it has commenced a tender offer for any or all of its outstanding warrants, including public warrants (GLGWS), for a purchase price of $0.129 per warrant, in cash, without interest.
17:31
PLOW Douglas Dynamics announces first post-IPO dividend payment of $0.1825 (12.83 +0.49)
PLOW announced that pursuant to the Co's dividend policy its board of directors has declared an initial quarterly cash dividend of $0.1825 per share of the Company's common stock.
17:31
SYMC Symantec prices $1.1 bln senior unsecured note offering (15.01 +0.15) -Update-
Co announced the pricing of two series of its senior unsecured notes in an aggregate principal amount of $1.1 bln, in an underwritten, registered public offering. Of these notes, $350 mln will mature on September 15, 2015, and will bear interest at an annual rate of 2.75%, and $750 mln will mature on September 15, 2020, and will bear interest at an annual rate of 4.2%.
17:25
WRB W. R. Berkley announces pricing of $300 mln of 5.375% senior notes due 2020; net proceeds of the offering will be used for general (26.66 -0.01)
17:23
GGR GeoGlobal provides exploration activities update; offer for KG Onshore Block participating interest increase; second well in Rajasthan commenced drilling (0.65 )
17:22
VOLC Volcano to offer $100 mln convertible senior notes due 2015 (25.65 +1.14) -Update-
17:17
NRGY Inergy, L.P. Prices Private Placement of $600 Million of 7% Senior Notes Due 2018 (38.61 +0.04)
Inergy, L.P. intends to use the net proceeds from this offering to fund part of the consideration for the Tres Palacios acquisition. Pending such use, the net proceeds of the notes will be placed in an escrow account. If the acquisition is not closed by December 31, 2010, the notes will be redeemed at 100% of the principal amount.
17:11
BEAV B/E Aerospace increases size of senior notes the offering $650 mln from $500 mln; announced the pricing of a public offering (32.10 +1.30) -Update-
Co announced the pricing of a public offering of $650 mln aggregate principal amount of 6.875% senior notes due 2020. The size of the offering was increased from the previously announced $500 mln to $650 mln.
17:00
ICGN Icagen announced that due to the occurrence of a serious adverse event in the photosensitivity study of ICA-105665, co suspended further enrollment in the study (0.23 -0.02)
The serious adverse event occurred in the 600mg patient cohort following completion of the 500mg patient cohort. The co will be discussing the status of the study with its clinical advisors and with the FDA.
17:00
CE Celanese announces global emulsions price increases (30.51 -1.51) -Update-
Co announced that it will increase the price of all emulsions sold globally, effective October 1, 2010, or as contracts allow (Pure 100% acrylic: North, Central and South America +$0.05/lb; Europe Africa and Middle East +EUR100/t. Vinyl acetate ethylene: North, Central and South America +$0.03/lb; Europe Africa and Middle East +EUR50/t; China +RMB400/t and Asia outside +USD $50/t. Vinyl-based (vinyl acrylic, vinyl acetate/versatate, $.03/lb. EUR50/t vinyl acetate homopolymers): North, Central and South America +$0.03/lb; Europe Africa and Middle East +EUR50/t. Styrene acrylic Europe Africa and Middle East +EUR50/t. Styrene.)
16:46
LVLT Level 3 Communications announced that it is offering $175 mln aggregate principal amount of Convertible Senior Notes due 2016 in an underwritten offering (1.16 +0.05)
16:46
ALR Alere announces offering of $350 mln of senior subordinated notes due 2018 (31.29 +1.25)
16:34
UBA Urstadt Biddle Prop announced that it is offering 2.5 mln shares of its Class A common stock in a public offering (19.31 +0.27)
16:32
BRS Bristow Group announces appointment of Jonathan Baliff to Senior Vice President and CFO (36.23 +0.58)
Co announced that Jonathan E. Baliff has been appointed to the position of Senior Vice President and Chief Financial Officer, commencing October 11th, 2010.
16:31
ART Artio Global Investors reported preliminary August month-end assets under management of $49.9 bln, compared to $51.3 bln as of July 31, 2010 (15.15 +0.53)
16:31
IRWD Ironwood Pharma and Almirall announce positive results from a Phase 3 trial with Linaclotide in patients with irritable bowel syndrome with constipation (9.75 +0.29)
Cos announced positive top-line results from a Phase 3 clinical trial assessing the efficacy and safety of a once-daily dosing of linaclotide 266 mcg in patients with irritable bowel syndrome with constipation. The two co-primary endpoints required by the European Medicines Agency were met in this study, showing statistical significance and clinically relevant improvement for linaclotide-treated patients both for abdominal pain/abdominal discomfort responder and IBS degree of relief responder over the three-month period. Significant improvement was also achieved for all pre-specified main secondary endpoints (stool frequency, stool consistency, straining, and bloating). The safety results were consistent with those observed in previous linaclotide clinical trials, with diarrhea being the most common adverse event in linaclotide-treated patients.
16:30
CAMP CalAmp awarded $1.5 mln contract by the City of Plano, Texas (2.49 +0.06)
Co has been selected by the City of Plano, Texas to install a mobile data network for the municipality's police, fire and emergency medical service (EMS) agencies. The contract is for ~$1.5 mln and is scheduled to be completed in nine months.
16:30
IG IGI Laboratories announces first ANDA submission (1.40 -0.04)
Co announced that it has submitted its first abbreviated new drug application (ANDA) to the US FDA. The development of ANDA products has successfully been integrated into the Company's ongoing contract services business.
16:28
TIK Tel-Instrument concluded a deal to raise $2.5 mln in financing; also received a $1.3 mln contract (6.70 0.00)
Co concluded a deal to raise $2.5 million in financing with BCA Mezzanine Fund in the form of a five year loan with an interest rate of 14%. During the first year payments are interest only. After the first year CO will make monthly payments of ~$69,000 until the note is paid in August 2015. Co also issued a five year Warrant to the Lender exercisable for 136,090 shares of common stock at $6.70 per share... Co also received a $1.3 million contract to supply 75 T-47N ramp test sets to the U.S. Army. This order is part of a five year IDIQ (indefinite-delivery/indefinite-quantity) contract from the U.S. Army for up to 235 T-47N test sets with a maximum contract value of approximately $4 million which was awarded in February 2010.
16:25
LLY Eli Lilly: Phase II Study Showed Switching ACS-PCI Patients to Effient/aspirin from Plavix/aspirin Regimen Reduced Maximum Platelet Aggregation After One Week (35.53 +0.10) -Update-
LLY reported that a study evaluating the level of platelet aggregation achieved after switching from Plavix (clopidogrel) 75 mg once-daily maintenance dosing plus aspirin to Effient (prasugrel) 10 mg once-daily maintenance dosing (MD) in patients with acute coronary syndrome (ACS) was published in the Journal of the American College of Cardiology. In this Phase II study, ACS patients who were switched to Effient (either 10 mg maintenance dose [MD] or 60 mg loading dose [LD] followed by 10 mg MD) plus aspirin demonstrated a statistically significant greater reduction in Maximum Platelet Aggregation (MPA) after one week when compared with patients who remained on maintenance therapy with clopidogrel.
16:24
WNC Wabash Natl announces proposed public offering of ~9.35 mln common stock by Trailer Investments (7.39 +0.54)
Co announces that Trailer Investments, LLC as Selling Securityholder, intends to offer 9,348,688 shares of co's common stock in an underwritten public offering. Co will not receive any proceeds from the sale of the warrant by the Selling Securityholder.
16:23
AEIS Advanced Energy wins Stage 3 Solar Energy Grid Integration System contract (14.59 )
Co announced that PV Powered, an Advanced Energy co, has been selected to continue development work funded by the U.S. Department of Energy Solar Energy Technologies Program and administered by Sandia National Laboratories. The effort is focused on lowering the barriers to adoption of solar energy on the utility grids of North America. Stage 3 represents the final stage of the competitive portion of the SEGIS program and is focused on commercialization of the technologies developed under previous stages.
16:22
UIL UIL Holdings announced a 17.7 mln share common stock offering; to use proceeds to fund a portion of the cash consideration payable in connection with the pending acquisition of Connecticut Energy (27.12 +0.26)
16:21
THQI THQ Inc announces May 2011 release date for Red Faction Armageddon; lowers FY11 guidance; to grow sales, earnings and cash flow in fiscal 2012 (3.73 +0.25)
Co announced an updated core games release schedule that now includes Red Faction Armageddon in May 2011. Primarily as a result of the updated release schedule for Red Faction Armageddon, co now expects FY11 EPS of ($0.10)-(0.20), prior guidance was $0.00, vs ($0.04) Thomson Reuters consensus; sees revs $800-825 mln, prior guidance of $845-865 mln, vs $847.32 mln Thomson Reuters consensus. Co says its fiscal 2012 core games line-up is positioning it to grow net sales and generate significant earnings and cash flow in fiscal 2012.
16:16
BFIN BankFinancial acquires DG Bancorp for $2 mln; expects the transaction to be accretive to earnings within the first year (9.21 +0.21)
Co announces the signing of an Agreement and Plan of Merger to acquire DG Bancorp and its wholly-owned subsidiary, Downers Grove National Bank. BankFinancial will purchase DG Bancorp, Inc. for approximately $2.0 million in cash. The purchase price is subject to various closing adjustments that could reduce the purchase price to $1.3 million or increase the purchase price to $5.2 million depending on DG Bancorp's expense management and the performance and resolution of certain identified credit exposures. BankFinancial expects the transaction to be accretive to earnings within the first year, excluding the impact of transaction related expenses.
16:16
VZ Verizon CFO John Killian announces plans to retire (30.90 +0.08)
Co announced that John F. Killian, executive vice president and chief financial officer, plans to retire at around the end of the year. A successor will be named shortly, and Killian will work closely with Verizon Chairman and CEO Ivan Seidenberg to ensure a seamless transition.
16:15
AB AllianceBernstein reports Aug AUM fell to $467 bln from $482 bln at end of July (26.09 +0.88)
The 3.1% decline was due to negative equity investment returns and net asset outflows, mainly from institutional accounts. Half of the institutional outflows were from a non-actively managed account which generates substantially lower fees than other such accounts.
16:13
NWE Northwestern Corp signs two separate Memorandums of Understanding with Western Area Power Administration (28.11 +0.45)
Co announces the signing of two separate Memorandums of Understanding (MOU) with Western Area Power Administration to coordinate planning of regional transmission projects. Under the agreements, NorthWestern Energy and Western will undertake joint planning and study work to determine how the Montana Renewable Collector System and the Mountain States Transmission Intertie projects may enhance Western's Transmission Infrastructure Program's mission of enabling renewable energy development. Should these joint efforts identify value to Western, it could lead to further cooperative agreements between the utilities.
16:12
EVR Evercore commenced a public offering of an aggregate 2.6 mln shares of Evercore's Class A common stock (29.35 +0.96)
16:11
RGNC Regency Energy announces Stephen Arata has resigned as Executive Vice President and CFO (24.03 +0.02)
Mr. Arata has accepted a position as CFO of a private energy company. Co is considering both internal and external candidates for the position and expects to announce a decision in the near future.
16:07
ENCO Encorium Group updated previously announced rights offering; will hold a Conference Call on September 21 (1.77 +0.07)
Co announced that its largest stockholder, Ilari Koskelo, has exercised his basic subscription right to purchase common stock of for an aggregate subscription price of $861,329, pursuant to previously announced rights offering. In addition, in the event other holders do not fully exercise their basic subscription rights, Koskelo has exercised his oversubscription privilege to purchase up to an additional 522,812 shares of common stock for an aggregate subscription price of $914,921, subject to proration with other holders who exercise their oversubscription privilege. Koskelo and the Company have agreed to cancel the promissory notes outstanding in favor of Mr. Koskelo, in lieu of cash consideration.
16:06
CDII China Direct receives contract from Beijing Tianrun Construction Co. valued at over $70 mln (1.03 +0.02)
Co announced that its subsidiary, CDI Beijing International Trading Co., has received a contract from Beijing Tianrun Construction Co. for the delivery of various types of reinforcing steel bars having the potential to generate over $70 mln in revenue over the next 12 months. Delivery dates will be determined by parties over the term of the contract.
16:05
HMN Horace Mann Board of Directors announces situation involving CEO (17.79 +0.39)
The Board of Directors of HMN announced a situation involving President and Chief Executive Officer Louis G. Lower. Co said, "Lower was involved in a traffic accident in Florida over Memorial Day weekend, and was charged with misdemeanor driving under the influence (DUI) with property damage or personal injury. Lower pled guilty to the charge and last Wednesday, September 8th, at the conclusion of due process, was sentenced to serve time in the county jail. Lower began serving his sentence that same day... Nonetheless, the Board continues to have full confidence in the company's direction, its strategic initiatives and the progress being made on those initiatives."
16:04
POWI Power Integrations halted, news pending (28.60 +1.76)
16:02
GTEC Global Defense Technology & Systems announced that it had entered into a definitive agreement to acquire Zytel Corporation for $26.8 mln in cash (11.96 +0.53)
Co announced that it had entered into a definitive agreement to acquire Zytel for $26.8 mln in cash. Co stated "Zytel's work is all classified and all of its employees are cleared at the Top Secret/Sensitive Compartmented Information level. The company has strong operating margins and expects to generate ~$20 mln in revenue in 2010 with continued rapid growth in 2011." The transaction is subject to customary closing conditions, including CFIUS approval. GTEC currently has no debt outstanding and will use cash on hand and borrowings under its senior revolving credit facility to fund the transaction.
16:01
ANGN Angeion increases repurchase program to $2 mln, up from the original $1 mln program (4.15 +0.04)
16:01
TSRX Trius Therapeutics reports new findings on mechanisms of antibiotic resistance in MRSA (4.30 +0.30)
Co reported new findings on torezolid phosphate (TR-701), a second generation oxazolidinone antibiotic now in Phase 3 clinical development. The data elucidate the mechanism by which torezolid retains full activity against clinical isolates of Staphylococcus aureus (S. aureus) carrying the cfr gene which confers resistance to first generation oxazolidinones such as linezolid, marketed by Pfizer as Zyvox. Hospital outbreaks of linezolid resistant cfr strains of methicillin resistant Staphylococcus aureus (MRSA) have been reported worldwide and increasing use of linezolid may promote further dissemination of this plasmid borne resistance gene.
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond and world FX market participants. 1-800-752-3013 or http://www.briefing.com
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News