Briefing.com: Hourly In Play (R) – 18:00 ET
Jan 14, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 14-Jan-10 18:00 ET
17:54
IRS IRSA - Inversiones y Representaciones SA announces the aAcquisition of an Option to Purchase Parque Arauco SA's Stake in Alto Palermo S.A. (9.30 +0.09)
IRSA (IRS) has announced the acquisition of an option to purchase the totality of Parque Arauco's (SSE: PARAUCO) direct and indirect equity and debt stake in Alto Palermo S.A. (APSA). IRSA has paid for the option USD 6 million to be credited against the final price, agreed by both parties, of USD 126 mln. The option can be exercised until August 31, 2010, extendable to November 30 of this year.
17:49
AGU Agrium to nominate two directors for election to CF's Board of Directors and calls for removal of poison pill (65.32 -2.15) -Update-
AGU tody notified CF Industries Holdings (CF) that Agrium will nominate two independent and highly qualified directors for election to CF's board of directors at CF's 2010 annual meeting of stockholders. Agrium also notified CF that it intends to seek CF stockholder approval for a resolution requesting that the CF board redeem CF's poison pill. Co said, "We remain fully committed to acquiring CF and believe the CF board of directors has failed to uphold its stockholders' interests by continuing to ignore Agrium's strategically and financially compelling offer, currently valued at $110.32 per CF share," said Mike Wilson, Agrium's President and CEO. "We believe CF stockholders are entitled to the opportunity to benefit from our offer which they have consistently supported. Accordingly, we are nominating two highly qualified, independent individuals with extensive fertilizer industry experience in an effort to bring objectivity to CF's board."
17:37
GNV GSC Investment beats by $0.01 (1.49 +0.04) -Update-
Reports Q3 (Nov) earnings of $0.10 per share, $0.01 better than the First Call dual-analyst est of $0.09. At November 30, 2009, the Company had $43.8 million in borrowings under its credit facility and an asset coverage ratio of 247%. During the third quarter, GSC Investment Corp. made no investments in new or existing portfolio companies. For the quarter, the Company had $5.7 mln in aggregate amount of exits and repayments, resulting in net repayments of $5.7 mln.
17:20
EPCT EpiCept announced that a previously authorized 1-for-3 reverse stock split of its common stock has been consummated (0.82 -0.01)
17:17
MED Medifast complaints against FDI pending with the U.S. Department of Justice, the U.S. SEC, the Maryland Securities Commissioner (22.99 -4.01) -Update-
Co states it has been the subject of a series of fraudulent attacks on its stock in a case of outright, deliberate, and possibly illegal market manipulation. Beginning February 17, 2009, Mr. Barry Minkow, a convicted felon, and his Fraud Discovery Institute (FDI) posted on the FDI website a "report" authored by his close associate, Mr. Robert Fitzpatrick, which accused Medifast through its direct selling subsidiary, Take Shape for Life, Inc., of being: 1) an illegal "endless chain" pyramid, and 2) a Ponzi scheme comparable to that perpetrated by Bernard Madoff. The attacks continued with subsequent "reports" and updates posted by Mr. Minkow, Mr. Fitzgerald and their co-conspirators in May and June 2009; and most recently January 8, 2010. The allegations are patently untrue. They were made with the intent to manipulate the share price of Medifast downward (which occurred) in order for Mr. Minkow and others to profit from his subsequently disclosed short position in Medifast stock, which he acquired prior to publishing his first fraudulent attack. Following the first attack, MED constituted a committee of prestigious, experienced independent directors to review the public allegations made by Mr. Minkow and his associates on the FDI website pertaining to alleged illegal activities of Take Shape for Life, the direct selling subsidiary of MED. These public allegations were made in mid-February 2009 and were immediately followed by significant short selling and short selling option puts that shaved more than $30 mln from the market capitalization of MED. The co has demanded that this third party take down its website information containing false information or be subject to appropriate legal action.
17:15
SGMS Scientific Games awarded contract in Saxony, Germany (15.32 +0.10)
Co announced that it has been awarded a contract with the Sachsische LOTTO-GmbH in the German state of Saxony to supply instant tickets and cooperative services. The contract begins January 2010. Scientific Games will be the exclusive supplier of instant tickets for Saxony and will be consulting on marketing support, training and production matters. Saxony has a population of 4.2 mln people and the tickets will be sold in 1,300 retailer shops all over Saxony.
17:12
DFG Delphi Financial prices public offering of $250 mln of 7.875% senior notes due 2020 (22.74 -0.03)
Co announced that it has priced a registered underwritten public offering of $250 mln aggregate principal amount of its 7.875% senior unsecured notes due 2020. The offering is expected to settle and close on January 20, 2010, subject to customary closing conditions. Net proceeds from the offering are expected to be used for general corporate purposes, including the repayment of corporate debt, which may include the repayment of debt outstanding under DFG's revolving credit facility.
17:01
RLH Red Lion Hotels resumes trading (4.85 +0.02) -Update-
17:01
BSX Boston Scientific announces first enrollment in clinical trial to evaluate its WallFlex Biliary RX Fully Covered Stent (9.51 +0.36)
17:00
WNR Western refining names Jeff Stevens Chief Executive Officer (5.21 +0.04)
Co announced that Jeff Stevens, currently President and Chief Operating Officer, has been appointed President and Chief Executive Officer of the Company. Stevens succeeds Paul Foster, who will continue as an officer of the Company in the position of Executive Chairman and will continue to lead Western's Board of Directors as Chairman. Stevens is one of the original founders of Western and has over twenty-five years of refining and marketing experience. I
16:46
GRA W.R. Grace completed sale of 5% interest joint venture with Chevron; amended certain agreements governing Grace's supply of catalyst (27.13 -0.19)
Co announced that it completed the sale of a 5% interest in Advanced Refining Technologies LLC (ART), a joint venture with Chevron Products Company (Chevron), on November 30, 2009. Grace has reduced its 55% interest to 50% to achieve a balanced ownership structure. Grace and Chevron have also amended certain agreements governing Grace's supply of catalyst to the joint venture and the related funding of capital spending in support of the joint venture. these changes to the agreements reflect the current scale and maturity of the business and position the venture for future opportunities... As a result of this transaction, Grace expects to record a gain of approximately $5 million.
16:46
CHNG China Natural Gas announces appointment of David She as acting Chief Financial Officer (10.92 -0.80) -Update-
The co announces that it has appointed David She as the Company's Acting Chief Financial Officer, effective February 1, 2010. Mr. She joined China Natural Gas in February 2008 as Vice President of Finance and was placed in charge of the Company's New York office. He returned to the Company's headquarters in Xi'an, China, in December 2008 and was soon promoted to Assistant Chief Financial Officer. He is succeeding Veronica Jing Chen, who is resigning as Chief Financial Officer due to family reasons.
16:46
TAM TAM signs distribution agreement with GDS (23.11 -0.87)
TAM signed agreements with Sabre and is negotiating with Amadeus and Travelport to make its entire content (rates and inventory) in the Brazilian market available through the Global Distribution Systems (GDS) operated by the three companies. With these new partnerships, the airline expands the options available to travel agents and corporate customers in order to issue tickets within Brazil. The expectation is that TAM'S full content shall be available in the three GDSs by the end of the first half of 2010.
16:40
ART Artio Global Investors announces December month-end assets under management (26.24 +0.04)
The co reports preliminary month-end assets under management of $56.0 billion as of December 31, 2009, compared to $55.6 billion as of November 30, 2009.
16:38
TSFG South Fincl Group unit approved as a preferred lender under the U.S. Small Business Administration Preferred Lender Program (0.68 -0.01)
16:37
DXCM Dexcom announces the sale of 3.5 million shares of common stock (9.22 +0.00)
Co announces the sale of 3.5 million shares of its common stock pursuant to an underwriting agreement with Canaccord Adams acting as the sole bookrunner.
16:32
STM STMicroelectronics announces the repurchase of a portion of its zero coupon senior convertible bonds due 2016 (9.12 +0.02)
The co announces that it has completed a program to repurchase a portion of its outstanding Zero Coupon Senior Convertible Bonds due 2016 ("2016 Bonds"). A total of $298,174,000 nominal value of 2016 Bonds were repurchased representing approximately 30.6% of the total amount originally issued. Beginning in December 2009, the 2016 Bonds were purchased in off market transactions by financial intermediaries, acting as agents for ST. The Company paid $314.6 million from outstanding cash to repurchase 2016 Bonds with an accreted value of $316.0 million. The repurchased Bonds will be cancelled in accordance with their terms.
16:30
ENER Energy Conversion announces plan to build 30 MW manufacturing facility in France (11.25 -0.01) -Update-
Co announced plans to establish a 30MW solar laminate manufacturing facility in France. The company has started its initial site selection process and is evaluating various sites, particularly in the Alsace region.
16:30
RLH Red Lion Hotels Corp announces new interim President and Chief Executive Officer (4.85 +0.02) -Update-
Co announced that Jon Eliassen, the Lead Independent Director on the Board of Directors of the Company, has been appointed Interim President and Chief Executive Officer of the co, effective immediately, replacing Anupam Narayan. Mr. Narayan's employment ended on January 13, 2010. Eliassen served for 16 years as Senior Vice President and Chief Financial Officer of Avista Corporation prior to retiring in 2003.
16:30
ABBC Abington Bancorp announces ~1.05 mln share repurchase plan (6.89 +0.06)
16:25
RLH Red Lion Hotels trading halted - news pending (4.85 +0.02)
16:20
INTC Intel beats by $0.10, beats on revs; guides Q1 revs and margins; midpoint of guidance above consensus (21.48 +0.52)
Reports Q4 (Dec) earnings of $0.40 per share, $0.10 better than the First Call consensus of $0.30; revenues rose 28.5% year/year to $10.57 bln vs the $10.17 bln consensus. Reports Q4 gross margin of 65% vs 62.2% consensus. Co issues guidance for Q1, sees Q1 revs of $9.3-10.1 bln vs. $9.35 bln consensus. INTC sees Q1 gross margins in the range of 59-63% vs 58.8% consensus; guides FY10 gross margins of 58-64% vs 59.7% First Call consensus. FY10 Capital spending is expected to be $4.8 billion, plus or minus $100 million. "Intel's strong 2009 results reflect our investment in industry-leading manufacturing and product innovation... This strategy has enabled us to generate unprecedented operating efficiencies while growing our traditional businesses and creating exciting new market opportunities, even in difficult economic times. Our ability to weather this business cycle demonstrates that microprocessors are indispensable in our modern world. Looking forward, we plan to deliver the benefits of computing to an expanding set of products, markets and customers."
16:20
INTC Intel testing $22 after reporting earings, pushing further into 52-week highs (21.48 +0.52) -Update- -Technical-
There is resistance from 2006 at 22.30-$22.50
16:17
INTC Intel --CORRECTION-- Q1 revenues expected in the range of $9.3-10.1 bln -Update-
16:17
KGC Kinross Gold preliminary 2009 results and outlook for 2010; expects record production of 2.23 million ounces in 2009 (20.32 -0.03)
Co announces FY09 production is expected to be ~2.23 mln gold equivalent ounces, in line with prior guidance and increase of ~21% over 2008 production. 2009 average cost of sales per gold equivalent ounce is expected to be in line with prior guidance range of $435-450 per gold equivalent ounce. The FY10 production is expected to be ~2.2 mln gold equivalent ounces, as previously estimated. 2010 average cost of sales per gold equivalent ounce is expected to be in the range of $460-490. Kinross is proceeding with plans to add a third ball mill at the Paracatu expansion, with installation and commissioning expected to be completed in the first half of 2011. 2010 capital expenditures are forecast to be ~$550 mln, which includes $225 mln for mine development, $90 mln for the new ball mill at Paracatu, and $48 mln for new project expenditures. "In 2010, as in 2009, we expect to generate strong revenue and cash flow from our operations. Production is expected to be consistent with 2009 levels, with a slight increase in cost of sales per ounce, as grades are expected to decline at Kupol, while performance and production at Paracatu are expected to improve, and the new Fort Knox heap leach is expected to contribute a full year of production.
16:15
IDTI Integrated Device acquires Mobius Microsystems (6.76 +0.07)
The co announces announced it has acquired Mobius Microsystems, the leader in precision all-silicon oscillator technology . The transaction, which closed today, January 14, 2010, is an all-cash agreement for the outstanding Mobius shares. The agreement has already received appropriate board approvals.
16:13
GS Goldman Sachs 'clarifies various media reports of aspect of FCIC hearing' (168.53 -0.54) -Update-
"Today certain media reports have erroneously stated that, during testimony at the Financial Crisis Inquiry Commission in Washington, D.C. yesterday, Lloyd Blankfein said Goldman Sachs' practices with respect to the sale of mortgage-related securities were "improper." Mr. Blankfein said no such thing. Mr. Blankfein was responding to a lengthy series of statements followed by a question that was predicated on the assumption that a firm was selling a product that it thought was going to default. Mr. Blankfein agreed that, if such an assumption was true, the practice would be improper. Mr. Blankfein does not believe, nor did he say, that Goldman Sachs had behaved improperly in any way. In fact, his answer to the various statements explained the market making function and how our practices were entirely appropriate. As he stated in his testimony, the firm could not have known the future direction of housing prices."
16:12
TRA Terra Industries drops ~3 points in afterhours after CF withdraws offer (32.66 +0.06)
AGU is also ticking lower.... TRA last rejected CF Industries Holdings (CF) proposal to acquire Terra for $29.25 per share in cash plus 0.1034 of a share of CF common stock per Terra share on Dec 14.
16:11
TRA Terra Industries: CF Industries Withdraws Offer to Acquire Terra Industries and is No Longer Pursuing Acquisition (32.69 +0.08)
CF announced that it has withdrawn its offer to acquire Terra Industries (TRA) and that it is no longer pursuing the acquisition. CF Industries also said that it has sold all its Terra shares, with a net gain (including dividends) that more than offsets the expenses it has incurred in connection with its proposed acquisition of Terra. Co says, "It is clear that an acquisition of TRA now would require a significant increase in our offer, given the substantial uplift in equity values in the fertilizer sector. While the strategic merits of a transaction are undeniable, it is not in the best interests of CF Industries stockholders to increase our offer to the level that we believe now would be required for Terra to agree to an acquisition. We are, of course, pleased that prospects for nitrogen and phosphate fertilizers have improved in the view of investors, a view we share." CF also said that in light of its current capitalization and expected strong cash flow in 2010, it will continue, as it has in the past, to evaluate its full range of capital deployment opportunities including strategic investments and returning capital to stockholders.
16:08
SHFL Shuffle Master beats by $0.03, beats on revs (8.95 +0.22)
Reports Q4 (Oct) earnings of $0.12 per share, $0.03 better than the First Call consensus of $0.09; revenues rose 1.9% year/year to $54.6 mln vs the $47.2 mln consensus. Co says, "We are still cautious in our future outlook, but 2009's operating results demonstrated our ability to successfully manage through the recession and, subject to unknown economic factors, we feel there is a good opportunity to grow revenue in 2010."
16:06
COV Covidien files patent infringement lawsuit over Ethicon's ultrasonic surgical devices (48.95 -0.86)
16:06
ALB Albemarle announces strategic supply agreement and settlement & cross-license agreement with Chemtura (37.92 -0.15)
Co announces that it has entered into a series of strategic agreements with Chemtura (CEMJQ). The parties entered into a long-term supply agreement under which Albemarle will supply Chemtura with certain requirements of BA-59, DE-83P, Decabromodiphenyl ethane, N Propyl Bromide and Sodium Bromide. The two companies have also entered into a Settlement and Cross License Agreement that resolves pending litigation and grants Chemtura a license to sell Albemarle's proprietary Saytex 8010 flame retardant. Additionally, the companies have entered into a Brine Mineral Interest Agreement in which Albemarle will assign certain brine mineral interests in Chemtura's existing West Bromine Unit to Chemtura, and Chemtura will assume Albemarle's obligations related thereto. The Settlement and Cross License Agreement is subject to the approval of the court presiding over Chemtura's Chapter 11 bankruptcy proceedings. At that time, all of the other agreements discussed above will also become effective. Albemarle will incur charges of approximately $4 mln in the fourth quarter 2009 relating to the transfer of its brine mineral interests and the write-off of certain impacted bromine assets.
16:05
YHOO Yahoo! announces that Sue James was elected to the co's Board of Directors, effective Jan 11, 2010 (17.12 +0.22) -Update-
16:05
SCMF Southern Community Finl announces increase in loan loss provision for fourth quarter 2009 (2.56 +0.06)
The co announces that it expects to record a provision for loan losses of approximately $18.0 million in the fourth quarter of 2009, compared to $6.0 million in the third quarter of 2009, based on preliminary results. The increase in the provision for loan losses, which will result in a loss for the fourth quarter of 2009, is primarily in response to a higher level of nonperforming assets resulting from the persistent weak economic environment. The Company also expects to record a $1.3 million charge to reflect reduced carrying values on foreclosed real estate. Southern Community remains well capitalized with ratios exceeding regulatory requirements.
16:05
ENS Enersys purchases industrial battery business from Douglas Battery Manufacturing (22.40 +0.21)
Co announces that it has purchased the industrial battery business from Douglas Battery Manufacturing Co for an undisclosed sum. Co states, "As we have demonstrated with our previous acquisitions, our strategy is to continue to build quality market share by acquiring companies which will produce solid results. The acquisition of Douglas Battery, combined with our recent acquisition of Oerlikon Battery, based in Switzerland, and our investment in Altergy Systems, a developer and manufacturer of fuel cells, are projected to generate over $100 mln annually in new revenues for EnerSys."
16:03
FALC FalconStor Sftwr sees Q4 revs of $21.5-22 mln vs $26.65 mln consensus, EPS loss of $0.02-0.03 vs $0.07 consensus (4.49 -0.07)
Co issues downside guidance for Q4 (Dec), sees EPS of ($0.02-0.03) vs. $0.07 First Call consensus; sees Q4 (Dec) revs of $21.5-22 mln vs. $26.65 mln consensus. The co advises investors not to continue to rely on any other aspects of its previously issued financial guidance for 2009. The revenue shortfall in 2009 was mainly the result of lower than expected software license revenue from OEMs. On a year over year basis, gross software license revenue from OEMs decreased by approximately 24%, or $6.7 million. Three OEMs were responsible for most of this shortfall. During the fourth quarter of 2009, Hewlett Packard announced it was acquiring 3Com, the parent of H3C, one of the Company's OEMs. The change of ownership caused a change in H3C's historical licensing practices that resulted in revenue from H3C that was over $2 million lower in Q4 on a year over year basis. The ongoing delay of the proposed merger of Sun Microsystems, another of the Company's OEMs, into Oracle, resulted in a shortfall in projected revenue from Sun. Revenues from EMC, the co's largest customer, were also below expectations.
16:01
UACL Universal Truckload Services announced that during Dec 2009, it completed the acquisition of three transportation companies (17.10 +0.48)
Co announces that during December 2009, it has completed the acquisition of three transportation companies throughout the United States. Collectively, they should add about $35.0 mln in annual rev in 2010; however, they do not expect their impact to be accretive to earnings until the second half of the year.
16:01
ALGN Align Tech adds international distributor for Europe, the Middle East and Africa (17.16 -0.45)
Co announced that it is adding an international distributor for Europe, the Middle East and Africa (EMEA). As part of the distribution agreement for EMEA, Gil Laks, Align Technology vice president, International will transition from his current position and assume ownership of the distributor, which will have sole distribution rights for the Invisalign system in over 85 countries.
15:55
KRE Sector ETF strength & weakness approaching today's closing bell -Technical-
Actively Traded Leading Sector ETF Plays:
Regional banks- KRE +3.25%, RKH +1.5%, Global shippers- SEA +3%, US airlines- FAA +1.75%, Commercial banks- KBE +1.5%, iShares Japan- EWJ +1.5%, Healthcare- IHF +1.5%, XLV +.75%, US bonds- TLT +1.25%, Pharma HLDRS- PPH +.75%, iShares S. Korea- EWY +.75%, Oil HLDRS- OIH +.5%, Financials- XLF +.5%, IYF +.5%, Insurers- KIE +.5%
Actively Traded Lagging Sector ETF Plays:
Solar power- TAN -4.5%, Nat gas- UNG -2.75%, Clean energy- PBW -2.25%, iShares Brazil- EWZ -1.75%, iShares telecom- IYZ -1.25%, SPDRS metals/mining- XME -1%, Basic materials- XLB -1%, IYM -1%, China 25- FXI -1%, US retailers- XRT -1%, Ag commods- DBA -.75%
15:41
Earnings Calendar
Today after the close SHFL and INTC are scheduled to report. Tomorrow before the open CRI and JPM are scheduled to report.
15:40
ETRM EnteroMedics announces $4.8 million financing (0.85 +0.01) -Update-
Co entered into a definitive agreement with institutional investors to sell 7,438,299 of common shares in a "registered direct" offering, at a price of $0.65 per share, for gross proceeds of $4,834,894, before deducting placement agent fees and estimated offering expenses.
<p>15:03
SPY S&P 500 +4.1 joins Dow +37 at new 52-wk highs, Nasdaq Comp +13 is 5 points below -Update- -Technical-
14:58
BIDU NASDAQ 100 (NDX) leaders & laggards moving into today's final hour of trading -Technical-
NDX 100 Best % Performers:
BIDU +6%, WYNN +4%, AKAM +3.5%, ORCL +2.5%, INTC +2.25%, MSFT +2.25%, RIMM +2%, GRMN +1.75%, RYAAY +1.75%, CELG +1.5%, YHOO +1.5%, CA +1.5%
NDX 100 Worst % Performers:
FSLR -4.25%, ILMN -4%, VRTX -3.5%, KLAC -3%, EBAY -2.5%, STLD -2.5%, LIFE -2.25%, DELL -2.25%, FWLT -2%, URBN -1.75%, NVDA -1.75%
NASDAQ TRIN @ +1.0
NASDAQ A/D @ +530
14:55
MRK Dow (INDU) leaders & laggards moving into today's final hour of trading -Technical-
INDU Best % Performers:
MRK +2.5%, INTC +2.25%, MSFT +2.25%, IBM +1.75%, BAC +1.5%, CSCO +1.5%
INDU Worst % Performers:
VZ -1.75%, T -1.25%, WMT -1.25%, DD -.75%, DIS -.75%, KFT -.5%, GE -.5%
NYSE TRIN @ +1.1
NYSE A/D @ +495
14:55
RUTH Ruth's Hospitality Group set the terms for its previously announced common stock rights offering (3.07 +0.11)
Co announced today that it has set the terms for its previously announced common stock rights offering. Under the terms of the rights offering, the Company will distribute at no charge to the holders of its common stock as of 5:00 p.m., New York City time, on January 20, 2010 one transferable subscription right for each share of Company common stock then owned. Each subscription right will entitle the holder to purchase 0.579232 shares of common stock at an exercise price of $2.50 per share.
14:47
FFNW First Financial Northwest announces increase in loan loss provision for fourth quarter 2009 (6.64 +0.04)
Co announced that it expects to record ~$24-26 million in provision for loan losses for Q4 of 2009. Net charge-offs against the allowance for loan losses for Q4 are expected to be ~$22-24 million. The balance available in the allowance for loan losses after the charge-offs will increase to ~$33-35 million at December 31, 2009.
14:40
SPY Later afternoon push for stock indices back near session highs -- Dow +35, S&P +2.9, Nasdaq +11 -Update- -Technical-
14:39
COMDX NYMEX Energy Closing Prices
Crude oil settled lower by 30 cents to $79.35, nat gas shed 16.4 cents to finish at $5.569, heating oil dropped 1.34 cents to end at $2.0812 and RBOB gasoline closed higher by 1.29 cents to $2.0731 (all Feb contracts).
14:23
IBM IBM trading in a limited intraday range modestly under its session high and 52-wk close high at 132.44/132.57 (132.31 +2.08) -Technical-
Its 52-wk intraday high from early Jan is at 132.97.
14:17
CELG Celgene ticks to fresh session highs this afternoon as price nears a key retest of the Jan 11 wide range/high volume daily bar & subsequent 52 week high print up @ 58.66 (58.57 +.89) -Technical-
HoD now @ 58.61.
13:47
TAN Claymore Solar ETF continues reversal off morning highs -Update- -Technical-
YGE -7.3%, TSO -6.7%, CSIQ -6.4%, STP -5.5%, SOLF -4.5%, JASO -3.5%, SPWRA -3.3%, FSLR -2.8%.
13:39
AHL Aspen Insurance announced new corporate structure; will manage insurance and reinsurance businesses under two separate brands (27.07 -0.10)
Co announced a new corporate structure whereby it will manage its insurance and reinsurance businesses under two separate brands, Aspen Insurance and Aspen Reinsurance, to enhance and better serve its global customer base. This will allow Aspen to place a greater emphasis on client service, with an increased focus on the regional markets in which it operates. Under the reorganization, Aspen's Insurance operations will comprise primarily its existing International Insurance and U.S. Insurance divisions. Rupert Villers, Global Head of Financial and Professional Lines Insurance, has been appointed CEO of Aspen Insurance. Bill Murray, President of Aspen's US Insurance division will continue to lead Aspen's US Insurance business. Aspen's Reinsurance business will comprise three divisions, Property Reinsurance, Casualty Reinsurance and Specialty Reinsurance. Brian Boornazian has been appointed CEO of Aspen Reinsurance and James Few has been appointed President of Aspen Reinsurance.
13:36
SPY Stock indices pushing above midday range highs, Dow +33 sets new session high -- S&P +2.7, Nasdaq +8 -Update- -Technical-
Sector leadership on this move has come from Finance XLF / RKH, Semi SMH, Oil Service OIH, Gold Miners GDX.
13:31
COMDX COMEX Metals Closing Prices
Feb gold finished the session higher by $7.70 to $1144.50, March silver closed up 9 cents to $18.64, while March copper shed 1.25 cents to end at $3.3875.
13:17
SPIR Spire awarded over $2 mln from DOE's Tax Credit Program (5.54 +0.11)
13:14
FSLR Solars getting hit here -- FSLR, YGE, STP, CSIQ, CSUN, JASO, SOLF (128.69 -3.36) -Update- -Technical-
Solars have been weaker this morning due to stories making the rounds that Germany will implement its Feed In tariff sooner than expected (April against mid June) and also at a higher level (16-17% discussed against 10% expected).
13:05
SPY Stock indices have limited reaction to auction -- Dow +21, S&P +0.9, Nasdaq +6.2 -Update- -Technical-
12:57
PCLN Priceline.com slides to minor new session low of 208.16 (208.24 -6.03) -Technical-
Hovering back under its 50 day ema/sma and modestly above yesterday's six week low at 207.76.
12:48
RJET Republic Airways expects to complete the integration of branded operations by end of Q2 (7.21 +0.03)
Co expects to complete the integration of the branded operations by the end of the second quarter of this year and to implement a number of service improvements for Frontier and Midwest customers: Three new Airbus A320 jets and seven new Embraer 190 aircraft will be acquired during the first half of the year, allowing the carriers to expand service to new destinations and increase frequencies on current routes for greater schedule convenience for customers in both Denver and Milwaukee, the airlines will move to a common system for its reservations, which will significantly enhance the booking experience for customers and employees, and make checking in for flights easier and the airlines' frequent flyer programs will be fully integrated, giving customers complete access to the benefits of both programs.
12:46
GS Goldman Sachs intraday extension tests 50 day sma/ema and yesterday's rebound high at 169.54/169.99 (169.80 +0.73) -Update- -Technical-
12:45
SEA Sector ETF strength & weakness here @ midday trading -Technical-
Actively Traded Leading Sector ETF Plays:
Global shippers- SEA +1.75%, Regional banks- KRE +2.5%, RKH +.75%, US airlines- FAA +1.25%, iShares Japan- EWJ +1.25%, Commercial banks- KBE +1%, Healthcare- IHF +1%, XLV +.5%, IYH +.5%, iShares S. Korea- EWY +.75%, Solar power- TAN +.75%, Pharma HLDRS- PPH +.5%
Actively Traded Lagging Sector ETF Plays:
Nat gas- UNG -3.75%, Basic materials- XLB -1.25%, IYM -1%, China 25- FXI -1%, iShares Brazil- EWZ -1%, SPDRS metals/mining- XME -1%, US retailers- XRT -.75%, RTH -.5%, Wind energy FAN -.75%, iShares REIYS & real estate- ICF -.5%, IYR -.5%, Ag commods- DBA -.75%
12:37
MED Medifast complaints pending with the United States DoJ, the SEC, the Maryland Securities Commissioner (22.65 -4.35) -Update-
Co has been the subject of a series of fraudulent attacks on its stock in a case of outright, deliberate, and possibly illegal market manipulation. Co says the allegations are patently untrue. Co has demanded that this third party take down its website information containing false information or be subject to appropriate legal action. Medifast, previously responded to the false claims in United States Securities and Exchange Commission File. The Medifast Independent Committee appointed as chairman Mr. Barry B. Bondroff... After an investigation of the facts and information developed to date the committee unanimously agreed that allegations were false, misleading and or without merit. After the initial attack in February, 2009, Medifast soon filed complaints with the DoJ, the SEC, the Maryland Securities Commissioner. Those complaints are deemed confidential matters. Co respectfully suggests its team members and shareholders keep in mind that the widespread acceptance of the Medifast products by our customers who want to improve their health through a proven, clinically tested, weight loss program is the important focus of the Medifast core mission. The periodic audited Medifast financial reports reflect in large measure the success its growing customer base has seen. "Our diversified product distribution model continues to operate very efficiently and we believe that will continue to be the case for the foreseeable future."
12:37
NTRI Nutrisystem shares slip to lows at midday with price probing potential 50 day ascending EMA & SMA support surrounding the 27.00 level (27.13 -1.23) -Technical-
LoD @ 27.12
50 day SMA in position @ 27.10
50 day EMA in position @ 27.00
12:09
MON Monsanto dropped a quick $0.70 on the 11:57 news (82.82 -1.13) -Update-
Although this news is nothing new, it appears to be an issue that is becoming more serious with the US Justice Dept and could eventually threaten MON's market share. Competitor SYT saw a very modest decline on the news as well.
11:52
COMDX Natural gas ticks to fresh lows at $5.501; now off 22.7 cents to $55.06
11:50
RNWK RealNetworks extends its gap up open higher intraday as it lifts up into its Oct intraday/52-wk high of 4.48 (4.44 +0.58) -Update- -Technical-
11:45
POM Pepco Hldgs was granted its request to suspend until June 2010 the procedural schedule on its application to build the Mid-Atlantic Power Pathway (17.21 -0.05)
Co said that a hearing examiner for the Maryland Public Service Commission granted its request to suspend until June 2010 the procedural schedule on its application to build the Mid-Atlantic Power Pathway (MAPP). Co asked for the delay last week pending completion of a study to re-evaluate the region's over-all transmission needs by PJM Interconnection, the independent regional power grid operator. MAPP Project Manager Bob Jubic said that while no formal proceedings will be held until that time, work would continue to define the line's 150-mile route and to complete environmental studies. The Office of People's Counsel immediately filed a motion to rescind the hearing examiner's order and instead schedule a hearing.
11:31
SJR Shaw Comms increases annual dividend 5% to $0.88 on Class B Shares and $0.8775 on Class A Participating Shares (20.24 +0.06) -Update-
11:15
IVN Ivanhoe Mines refutes story that CEO is conducting a sale of his 23% founder's stake in Ivanhoe Mines (16.98 -0.19) -Update-
Co's Executive Chairman Robert Friedland said that there is no truth to a story distributed by the Dow Jones news service alleging that he is conducting a sale of his 23% founder's stake in Ivanhoe Mines Ltd. "This story is false. Dow Jones should publicly correct the record that it has created today, to the concern of Ivanhoe Mines' shareholders." Friedland announced last week that Ivanhoe Mines had retained leading investment banking firm and independent mining-sector specialist to evaluate and advise the company on a range of strategic options to further enhance shareholder value.
11:13
SMH Semiconductors Hldrs Trust slides back near short term support area (27.45 -0.31) -Technical-
The SMH staged an impressive recovery yesterday after holding at its Mid-Dec gap at 27.10 (+2.8% Wed. low 27.09). It has underperformed today with the recent downticks bringing supports at 27.47/27.44 (50% retrace of bounce/equality target) into play -- session low 27.44. A secondary area is at 27.38/27.35 (62% retrace of bounce/extension target). A move back through 27.55 and 27.65 is needed to neutralize the weaker action off yesterday's high.
11:00
BBI Blockbuster eliminates final $24 million letters of credit agreement with Viacom (0.74 +0.01)
Co announced that it has eliminated the final $24 million of certain letters of credit it maintained on behalf of its former parent company, Viacom Inc. The letters of credit were maintained by Blockbuster for Viacom's benefit to cover Viacom's potential liability under certain BLOCKBUSTER store leases pursuant to arrangements made in connection with Blockbuster's split off from Viacom in 2004. Pursuant to that arrangement, the obligation to maintain a letter of credit expires when Viacom's overall exposure is below $25 million. As a result of normal reduction of remaining lease term and targeted Blockbuster efforts, that exposure is now below the $25 million threshold.
10:52
GDX New session lows in Gold Miners, Gold GLD and Silver SLV -Technical-
10:50
Rumor Round Up
Today was another very busy rumor morning. Garmin (GRMN 35.01 +0.34) shares traded higher at the open following a rumor Microsoft (MSFT 30.68 +0.33) could be interested in the co. Energy Conversion (ENER 11.67 +0.41) shares traded higher following renewed First Solar (FSLR 134.64 +2.51) for ENER rumors. In the biggest mover of the day, Textron (TXT 21.44 +0.53) spiked $0.50 after it was rumored the co could be taken over. The shares are now up another $0.25. Finally, L-1 Identity Solutions (ID 7.42 +0.09) had a spike in price and volume after it was rumored Lockheed Martin (LMT 76.56 -0.32) could be interested in the co. The shares have since given up most of their gains. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable, the speculation may increase volatility in the near term.
10:49
SPY Modest slide off the morning highs for stock indices -- Dow +13, S&P +0.5, Nasdaq +4.7 -Technical-
Seeing drop near session lows in Retail XRT and Housing XHB with relative weakness (underperforming the S&P) in Energy XLE / OIH, REITs IYR, Solar TAN, Coal KOL.
10:35
SEA Sector ETF strength & weakness through today's 1st hour of trading -Technical-
Actively Traded Leading Sector ETF Plays:
Global shippers- SEA +2.5%, Regional banks- KRE +2%, RKH +1%, Solar power- TAN +1.5%, Base metals- DBB +1.25%, Commercial banks- KBE +1%, iShares Japan- EWJ +1%, Healthcare- IHF +1%, IYH +.5%, XLV +.5%, Steel- SLX +.75%, iShares S. Kores- EWY +.75%
Actively Traded Lagging Sector ETF Plays:
Nat gas- UNG -2.5%, Heating oil- UHN -1%, Gold miners- GDX -1%, US retailers- XRT -1%, RTH -.5%, China 25- FXI -.75%, US broker/dealers- IAI -.5%, iShares Brazil- EWZ -.5%, SPDRS metals/mining- XME -.5%, Basic materials- IYM -.25%, XLB -.5%, SPDRS utilities- XLU -.5%
10:33
HUM Humana lifts higher on a pick up in relative volume as it elevates up near its Jan/52-wk high of 48.69 (48.29 +1.23) -Technical-
10:31
ORCH Orchid Biosci announced a planned consolidation of Tennessee forensics testing operations (1.72 +0.02)
Co announced a planned consolidation of the company's Nashville, Tennessee forensics testing operations into its Dallas, Texas facility. The transfer of the forensic testing operations to the Dallas facility is expected to begin within the next month. "We expect to realize approximately $1.4 million in annual cost savings from operational efficiencies, reduction in lease and equipment expenses, and increased scalability. We anticipate that one-time consolidation costs will be approximately $1.2 million. We plan to add at least twenty new positions at the Dallas facility to support the increased workload, including a number of transfers from the Nashville facility."
10:30
UNG Natural gas sold off sharply ahead of data and remains right around its lows, at $5.51, following the release of the data; now off 16 cents to $5.573
10:30
XRT Lagging Retail Sector -XRT- slips to new session low (36.22 -0.34) -Technical-
The XRT is still locked within its week long range near Jan highs but it is underperforming today with it recently slipping to a new session low of 36.21 (this week's low is at 35.93). Weighing on the sector thus far today are: WMT -0.8%, AAP -1.7%, AMZN -1.4%, BKS -1.6%, WFMI -1.7%, NFLX -2.5%, PCLN -1.4%, CHS -1.1%, PSS -2.1%, GYMB -1.3%, LTD -1.2%, BBBY -1.3.
10:29
FAST Fastenal climbs higher off the opening to challenge last week's momentum highs near 47.16 (47.20 +0.50) -Technical-
10:28
WYNN NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-
NDX 100 Best % Performers:
WYNN +3.5%, ORCL +3%, FSLR +2.75%, RYAAY +2%, ADSK +2%, RIMM +1.75%, INTC +1.75%, BIDU +1.75%, AKAM +1.5%, MSFT +1.25%
NDX 100 Worst % Performers:
KLAC -2.5%, ILMN -2.25%, NVDA -2%, STLD -1.75%, LIFE -1.5%, AMZN -1.5%, VRTX -1.5%, PAYX -1.25%, BBBY -1.25%, EBAY -1.25%
NASDAQ TRIN @ +.85
NASDAQ A/D @ +480
10:25
INTC Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-
INDU Best % Performers:
INTC +1.75%, IBM +1.25%, MRK +1.25%, HPQ +1.25%, MSFT +1%, CSCO +1%
INDU Worst % Performers:
DIS -1%, WMT -1%, VZ -.75%, MCD -.5%, CVX -.5%, DD -.5%
NYSE TRIN @ +.85
NYSE A/D @ +325
10:21
AMZN Relative Weakness -- Amazon.com continues to struggle finding buying interest through the early action as it hovers along the lows near the 127.00 area (127.43 -1.74) -Update- -Technical-
10:21
HPQ Hewlett-Packard notches new session high of 52.80, eyeing its Dec/52-wk high/range top at 52.95 (52.80 +0.58) -Technical-
10:17
SPY Stock indices set new session highs -Update- -Technical-
This marks a minor new 52-wk high for the Dow +26, the S&P +2.6 is hovering just under this week's 52-wk high at 1149.74 (session high 1149.07) while the Nasdaq Comp +9.1 is still 8 points shy of this wk/52-wk highs.
10:11
PNC PNC Bank working up toward session high at 57.85 (57.70 +0.66) -Technical-
Note that this lines up with its Nov peak (57.86) with the Jan/52-wk high from Monday at 58.00.
10:08
PTEK PokerTek announces that Oaklawn Racing and Gaming has placed its third order for PokerPro tables (0.59 +0.01)
10:07
VMW VMware climbs higher off the open as it takes out its Oct-Jan range/52-wk high of 46.46 (46.97 +1.46) -Technical-
10:04
TAN Claymore Solar ETF sector components at near session highs -Technical-
LDK +5.1%, JASO +3.8%, SOLF =3.8%, CSIQ +3.5%, STP +2.4%, YGE +2.2%, FSLR +2%, SOL +1.4%, TSL +1.3%.
10:03
BIDU Baidu.com lifts to opening highs as it pushes up into its Nov-Jan range/all-time high (441.92 +2.47) -Update- -Technical-
10:00
THC Tenet Healthcare signs new national agreement with UnitedHealthcare (6.23 -0.01)
Co announced it has signed a new multi-year agreement with UnitedHealthcare, a UnitedHealth Group (UNH) company. Under the new agreement, effective Jan. 1, 2010, UnitedHealthcare commercial and Medicare Advantage health plan participants have access to health care services at all hospitals owned and operated by Tenet subsidiaries as well as Tenet's 59 freestanding diagnostic imaging centers and ambulatory surgery centers. Tenet Physicians, which contracts for the more than 400 physicians employed by various Tenet subsidiaries, also is part of the new agreement.
09:58
INTC Intel tests/pauses near its previous 52-wk high from Oct at 21.27 -- session high 21.29 (21.18 +0.22) -Technical-
09:54
AXP American Express sets new session high of 42.39, near its Jan high/multi-week range top at 42.48 (42.29 +0.14) -Technical-
09:51
USGS reports 6.0 magnitude earthquake in South Mariana Islands region
09:50
QQQQ Stock indices rotate into positive territory, Nasdaq Comp +5.6 edges above yesterday's high -- Dow +7, S&P +0.1 -Technical-
09:48
WYNN Casino extending early gains -Technical-
Noted the early run in LVS and the relative strength in the Casino Index in earlier updates. Other Casino/gaming names on the run include: WYNN +3.1%, MGM +2.9%, ISLE +2.2%, BYD +1.5%, IGT +1.3%, ASCA +0.8%, PNK +0.8%, SGMS +0.7%, BYI +0.4%, MCRI +0.4%, PENN +0.3%.
09:47
HEB Hemispherx Biopharma addresses Ampligen CFS Preclinical Issues (0.72 +0.05)
Co stated that on January 14, 2010, it submitted reports of new preclinical data regarding Ampligen, an experimental therapeutic being developed for potential treatment of Chronic Fatigue Syndrome, to the Food and Drug Administration. Co believes these reports should be sufficient to address certain preclinical issues referenced in periodic reports filed by the Company with the Securities and Exchange Commission, including, most recently, the Company's Form 10-Q filed with the SEC on November 9, 2009, as well as in a Complete Response Letter from the FDA described in a December 1, 2009 press release. The preclinical studies discussed in these reports are the combined work-product of the staffs at Hemispherx and its subcontractor, Lovelace Respiratory Research Institute. The new preclinical data showed no evidence of antibodies against Ampligen in primates and no evidence of an increase in certain undesirable cytokines (specific modulators of the immune system) at clinically used doses of Ampligen for CFS. Although most other experimental immunomodulators have been associated with one or more features of aberrant immune activity, including toll-like receptor activators, this was specifically not seen with Ampligen in primates.
09:46
ISLE Isle of Capri pursues amendment to senior credit facility (8.67 +0.12)
Co announced it is pursuing an amendment to its senior credit facility, and has engaged Credit Suisse Securities (USA) LLC to arrange the amendment. Under consideration are amendments that would provide the Company with greater flexibility, including the amendment of certain financial covenants.
09:45
MA MasterCard lifts higher off the open as it elevates up into its Dec range/52-wk high of 259.00 (259.28 +3.11) -Technical-
09:45
ECONX Reminder: Business Inventories data due out in about 15 min at 10:00ET
09:41
TECHX Early Relative Sector Strength -Update- -Technical-
Sector leadership (outperforming the S&P) has been noted in Shipping SEA, Casino, Solar TAN, Finance XLF / RKH, Oil Service OIH.
09:40
CMG Chipotle Mexican Grill shares are an early outperformer as price probes notable six month resistance zone/tops surrounding the 97~98 level here (97.89 +2.25) -Technical-
CMG +2.3% vs. SPX -.05%.
HoD @ 98.31
09:38
LVS Las Vegas Sands extends higher after positive comments, eyeing its Jan high/week long range top at 18.85 (18.74 +0.45) -Update- -Technical-
09:38
S Sprint Nextel announces several new and renewed agency contracts valued at more than $500 million (4.02 +0.02)
Co announces several new and renewed agency contracts valued at more than $500 million. Sprint also has made multiple GSA contract modifications that are expected to help fuel double digit-growth in 2010.
09:36
EQY Equity One: Hearing downgraded to Hold at Citigroup (17.57 -0.39)
09:35
GOOG Google reverses early dip, near unchanged (586.85 -0.24) -Update- -Technical-
Resistance of interest is at 588.18/588.38 which marks its 50 day sma and yesterday's high
09:34
EK Eastman Kodak alleges patent infringement by Apple and RIMM (5.02 +0.09)
Co announced that it has filed lawsuits against Apple (AAPL) and Research In Motion Limited (RIMM) alleging the infringement of Kodak digital imaging technology. The Kodak complaint, filed with the U.S. International Trade Commission (ITC), specifically claims that Apple's iPhones and RIMM's camera-enabled BlackBerry devices infringe a Kodak patent that covers technology related to a method for previewing images. Separately, Kodak filed two suits today against Apple in U.S. District Court for the Western District of New York that claim the infringement of patents related to digital cameras and certain computer processes. Co is seeking from the ITC a limited exclusion order preventing the importation of infringing devices, including certain mobile telephones and wireless communication devices featuring digital cameras.
09:33
TWC Time Warner Cable shares see early follow-through from yesterday's high volume breakout from 44.00 resistance into new 52 week highs (45.13 +.69) -Technical-
New 52 week highs @ 45.27
09:32
HCKT Hackett Group announced a strategic alliance with the consulting division of the Nomura Research Institute (2.72 +0.04)
09:30
ABT Abbott Labs receives European regulatory approval for new ovarian cancer diagnostic test (55.22 +0.21)
Abbott partnered with Fujirebio Diagnostics in the development of the assay. The test is now available in several European countries, as well as in some countries in Asia Pacific and Latin America. The ARCHITECT HE4 Assay was recently submitted to the FDA for 510(k) clearance.
09:21
FSIN Fushi Intl signs sales and distribution agreement with Copperhead Industries (10.68 )
Co announces that it has executed a five-year exclusive representative agreement with Copperhead Industries. Under the terms of the agreement, Copperhead has the exclusive right to purchase, inventory, promote, or sell the Company's copper-clad steel Tracer Wire Products or finished goods containing Copperweld CCS Tracer Wire Products within the United States and Canada.
09:20
SATC SatCon Tech delivered 23 megawatts of its PowerGat Plus 500kW solar PV inverters (2.76 )
Co announced that it has delivered 23 megawatts of its PowerGat Plus 500kW solar PV inverters to GCL Solar Limited for its 20 megawatt Jiming Hill Xunzhou solar plant and its 3 megawatt Yancheng Guoneng rooftop installation.
09:20
KYN Kayne Anderson priced its 5.5 mln share common stock offering at $23.61/share (25.28 )
09:16
MRNA MDRNA raises $5.5 mln in registered direct offering (1.39 )
Co announces that it has entered into a definitive agreement with investors to raise gross proceeds of $5.5 mln through a registered direct offering. Under the terms of the agreement, the company will sell 5,385,557 shares of its common stock at $1.02125 per share. As part of the transaction, the investors also will receive warrants, with a 5-year term, to purchase 3,500,612 shares of common stock at an exercise price of $1.00 per share.
09:06
On The Wires
American Technology (ATCO) announces that it has filed with the SEC a preliminary proxy statement pursuant to which it intends to propose to its shareholders changing its name to LRAD Corporation. In connection with the corporate name change, the co has reserved the ticker symbol 'LRAD' with NASDAQ... Nevsun Resources (NSU) announces that the Industrial Development of South Africa has re-confirmed its commitment to provide $89 mln in project debt facilities to the Bisha project in Eritrea.... ShopNBC (VVTV) announces that it has surpassed a record 1 mln customers... SunTrust Banks (STI) and MasterCard (MA) announce that SunTrust will convert the company's debit card programs to MasterCard. After the conversion to MasterCard-branded debit cards, which is expected to begin late this year, SunTrust will issue approximately five million MasterCard debit cards that can be used everywhere MasterCard debit cards are accepted, including ATMs. The terms of the agreement were not disclosed... Raytheon BBN Technologies, a wholly owned subsidary of Raytheon (RTN), annnounces that it has been awarded a $2.9 mln contract by the Air Force Research Laboratory to develop new approaches to better protect Department of Defense Service-Oriented Architectures against malicious attacks... The Shaw Group (SHAW) announces that it has been awarded a contract for a feasibility study by American Electric Power (AEP) to support the first phase of a potential two-unit power uprate at the Cook Nuclear Plant near Bridgman, Mich... Skyworks Solutions, Inc. (SWKS) announced that Google (GOOG) Nexus One mobile phone is leveraging several of its highly integrated power amplifier modules. These 3G solutions were incorporated in the Google platform as part of HTC Corporation's reference design.
09:05
WES Western Gas Partners promotes Sinclair to CEO (19.79 )
Co announces that Donald Sinclair has been promoted to CEO of its general partner. Sinclair continues as President and succeeds Robert Gwin, who will continue in his role as Chairman of the Board.
09:03
IDC Interactive Data announced that it has purchased the assets of Telerate Systems for UAE dirhams 2.2 mln -or approx $0.6 mln in cash based on current exchange rates (25.39 )
09:03
CBSH Commerce Bancshares beats by $0.05 (39.59 )
Reports Q4 (Dec) earnings of $0.60 per share, $0.05 better than the First Call consensus of $0.55. Net interest income was up 4.6% YoY to $163.5 mln. For the quarter, the return on average assets totaled 1.09%, the return on average equity was 10.5% and the efficiency ratio was 57.4%. December 31, 2009, the ratio of tangible common equity to total assets improved to 9.7% compared to 8.3% at year end 2008. "we increased our allowance for loan losses this quarter by $4.0 million, but reduced non-performing assets by $12.6 million, or 10%. Net loan charge-offs for the quarter totaled $37.0 million, an increase of $6.1 million over the previous quarter mainly due to continued high levels of residential development and consumer loan losses."
09:01
LUNA Luna Innovations' largest investor exchanges debt for equity (3.95 )
Co announces that Carilion Clinic, its largest non-employee shareholder, has exchanged all outstanding convertible promissory notes of Luna, with a balance of principal and accrued interest equal to $6.2 mln, for newly issued shares of Series A Convertible Preferred Stock of Luna. In 2005, Carilion Clinic invested $10 mln in equity and $5 mln in convertible promissory notes of Luna. The indebtedness accrued interest at 6% annually and had an aggregate balance of $1.2 mln in accrued interest. Carilion elected to exchange the entire balance of this indebtedness for shares of Luna preferred stock that will be convertible into shares of common stock at the original conversion price of the promissory notes of $4.69 per share. In addition, Carilion will receive warrants for 356,000 shares of common stock that are exercisable beginning in 2013 at an exercise price of $2.50 per share.
09:01
PRIM Primoris Services announces $34 mln in contract awards (7.47 )
Co announces that its wholly-owned subsidiary, James Construction Group, has been awarded two construction services contracts at the John W. Turk, Jr., Unit 1 Power Plant in Fulton, Arkansas. Primoris expects that the two contracts will, in the aggregate, generate approximately $34 mln in revenues over a 12-month period ending December 2010.
08:45
CVU CPI Aerostructures 2009 new contract awards approximated $23.4 mln (6.15 )
Co announces that 2009 new contract awards approximated $23.4 mln. Of this amount, approximately $10.6 mln, $6.9 mln and $5.8 mln were government prime contract awards, government subcontract awards and commercial subcontract awards, respectively. As reported last month, CPI Aero received two contracts from Lockheed Martin Corporation to produce aircraft structural assemblies for the U.S. Navy's P-3 "Orion" aircraft. With other orders and Spirit AeroSystems contract adjustments for the Gulfstream G650 business jet, fourth quarter awards added $8.4 mln to the $15.0 mln of new orders as of Sept. 30, 2009.
08:36
EV Eaton Vance reports assets under management of $163.1 bln on Dec. 31 '09 compared to $154.9 bln on Oct. 31, '09 (31.74 )
08:35
Fitch says U.S. retail credit card defaults hit near-record levels with no relief in sight
U.S. consumers defaulted on store-branded credit cards at near-record levels during the holiday shopping season, with 2010 likely to bring more of the same trend, according to Fitch Ratings. Fitch's December Retail Credit Card Index results show that more than one in every eight dollars of receivables was written off as uncollectable during the November collection period on an annualized basis. Taken with the recent delinquency trends and Fitch's expectation for unemployment, Fitch expects retail card chargeoffs to remain elevated throughout first half-2010. 'We do not foresee any meaningful improvement in the retail card credit quality in the coming months,' said Managing Director Michael Dean. 'U.S. consumers remain under stress on a number of fronts, most notably on the employment front, and retail card chargeoffs will continue to reflect those pressures.'
08:32
FSLR First Solar acquires solar project development pipeline from Edison Mission Group (132.12 )
Co announces it has completed the acquisition of a portion of Edison Mission Group's solar project development pipeline. The utility-scale solar projects are located in California and the Southwest.
08:32
AUDC Audiocodes appoints Chief Operating Officer (2.93 )
The co announces the appointment of Lior Aldema as Chief Operating Officer effective January 14, 2010. Mr. Aldema will report to Mr. Shabtai Adlersberg, President and CEO of the company. Lior Aldema has been with the Company since 1998 and has served in his recent position as Vice President Marketing and Product Management focusing on enterprise and service providers applications.
08:31
CERS Cerus reports positive outcome in European study of 7-Day INTERCEPT platelets (1.97 )
Co announces that INTERCEPT-treated platelet components were found to be effective for patient support following extended six and seven day storage in a clinical study conducted at four sites in Europe. These data further confirm the safety and therapeutic efficacy of platelets treated with the INTERCEPT Blood System, a pathogen inactivation treatment designed to protect against transfusion-transmitted diseases. In accordance with CE marking, INTERCEPT platelet components are approved for storage up to seven days subject to local regulatory guidelines. The purpose of the 201-patient study was to provide additional information for clinicians regarding the safety and efficacy of INTERCEPT platelets compared to conventional platelets stored for six to seven days prior to transfusion. Most prior INTERCEPT clinical studies have included platelet units stored only up to five days.
08:30
SPY E~mini index futures slide lower initially following key econ. data -Technical-
ES -1.0
NQ -2.50
YM -1
08:25
TGT Target announced that it is resuming open-market purchases of its shares under the $10 bln program authorized by its Board in Nov 2007 (49.34 )
Co announces that it is resuming open-market purchases of its shares under the $10 billion program authorized by Target's Board of Directors in November 2007. Target temporarily suspended substantially all of its share repurchase activity in November 2008 in order to protect liquidity and debt ratings in an exceptionally challenging environment. As of the end of third quarter 2009, Target has acquired approximately 95.2 million shares of its common stock under the current program at an average price per share of $51.42. This activity represents a total investment of approximately $4.9 billion, just under half of the current authorization.
08:23
COMDX Natural gas drops to its lowest levels of the morning at $5.695; now lower by 3 cents to $5.703
08:20
AONE A123 Systems signs multi-year battery system supply agreement with Fisker Automotive; also announces additional capacity expansion plans based on customer momentum (20.05 )
Co announces a battery supply agreement with Fisker Automotive, a new American automaker building premium green vehicles. The supply agreement is for battery systems for the Fisker Karma Plug-in Hybrid Electric Vehicle. The Karma is scheduled to be launched in late 2010. AONE will provide Fisker Automotive with advanced automotive battery systems. Fisker Automotive and A123 will also collaborate on Fisker's Project Nina platform, with the intent of having A123 supply batteries for that vehicle based on meeting the automaker's performance and delivery requirements. Project Nina is expected to launch in 2012. Co also announces details related to the further expansion of the co's United States manufacturing capacity. In Dec of 2009, A123 closed on its $249 mln grant award from the Department of Energy and is using the available capital to help fund its capacity expansion plans. A123 ended 3Q09 with final assembly capacity of 169MW hours per year. A123 announces that it has begun to make investments in its 300,000 square foot plant in Livonia, Mich. to expand the final cell assembly capacity by up to 200MW hours once fully operational, inclusive of the previously announced 80MW hour expansion. These investments will expand the co's global final cell assembly capacity to over 360 MW hours, with the incremental 200MW hours of capacity expected to be ready for production during the second half of 2010. The expansion in capacity will provide A123 with the overall ability to produce over 320,000 hybrid vehicles with 1.1 kWh battery systems, or over 24,000 PHEVs with 15kWh battery systems per year. A123 will continue to evaluate additional investments in production capacity in response to anticipated customer demand.
08:13
ECONX Reminder: Initial Claims, Continuing Claims, Retail Sales, Export Prices, and Import Prices data due out in about 17 min at 8:30ET
08:12
TCX Tucows announces preliminary results of Dutch Tender offer (0.68 )
Co announces the preliminary results of its modified "Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on January 13, 2010. Tucows expects to purchase 6,341,607 shares of its Common Stock at a purchase price of $0.70 per share, for a total of $4,439,125. The 6,341,607 shares expected to be purchased are comprised of the 5,000,000 shares Tucows offered to purchase and 1,341,607 shares to be purchased pursuant to Tucows right to purchase up to an additional 2% of the shares outstanding immediately prior to the commencement of the tender offer.
08:12
On The Wires
Science Applications International (SAI) announces that it has signed a definitive agreement to acquire CloudShield Technologies, a cybersecurity and management solutions provider. Terms of the acquisition were not disclosed... UTEK Corporation (UTK) and Patents.com announce a partnership, bringing their clients enhanced services. In this new relationship, UTEK will provide in-licensing, out-licensing and analytics services to Patents.com's 50,000 plus registered users. The partnership will bring increased traffic to UTEK's online platforms and increased visibility for clients listing patents on those sites; ultimately driving more value realization from their IP assets... Comtech Telecommunications Corp. (CMTL) announces that its Tempe, Arizona-based subsidiary, Comtech EF Data Corp., was awarded a $1.6 mln order for satellite modems and redundancy switches... TriMas Corporation (TRS) announces that it has concluded the final step of its previously announced refinancing activities with the completion of the cash tender offer for its outstanding 9 7/8% Senior Subordinated Notes due 2012... MicroStrategy Incorporated (MSTR) announces that Aberdeen Group published a report citing that MicroStrategy customers indicated strong sales growth between September 2008 and July 2009, as compared to the industry average. According to the Aberdeen Group report, customers using MicroStrategy software achieved a 6% increase in sales during the time period as compared to an industry average of a 4% decline in sales revenue. Among large BI vendors in the survey, only MicroStrategy customers experienced significant sales growth... Masimo (MASI) announces that a new study published in the January 2010 issue of the European Journal of Anaesthesiology found that Masimo PVI predicts fluid responsiveness as accurately as invasive stroke volume variation and more accurately than invasive central venous pressure in mechanically-ventilated patients undergoing major surgery... Qiao Xing Universal Resources (XING) announces that its newly acquired subsidiary, Guangxi Hongyuan Mining, signed a cooperation agreement with the owners of Yinping Copper-Tin Mine, to acquire the right to 60% of the profit from the operation of the Yinping Mine... On Jan. 13, 2010, the Federal Communications Commission granted TerreStar Networks Inc., a majority-owned subsidiary of TerreStar Corp (TSTR), authority to integrate terrestrial use of TerreStar's 20 MHz S Band spectrum into its next generation mobile wireless network... Allied Nevada Gold Corp (ANV) announces that its Board of Directors has approved the purchase of a $5 mln crushing unit for its wholly owned Hycroft mine located near Winnemucca, NV.
08:09
NIV NIV IntelliMedia Tech Grp Kuanda Communications entered into purchase agreement with China PTAC Communications Services (3.14 )
Co announced that it, jointly with Kuanda (Xiamen) Communications has entered into a purchase agreement with China PTAC Communications Services on behalf of China Telecom (CHA) for the purchase by China Telecom of the Company's two 3G mobile phone products. The purchase agreement is contingent on delivery of the 3G mobile phones representing the aggregate order by March 31, 2010. The value of the order is $28.8 million; the dollar value of any additional orders further to this relationship depends on the final number of delivered products. It is expected that the 3G mobile phones will be available for purchase at China Telecom Services Centers throughout China.
08:07
BNVI Bionovo Announces Publication of "Positive Results" From the Phase 1B Clinical Trial of Bezielle for Metastatic Breast Cancer (0.62 )
08:07
ASIA AsiaInfo to provide a suite of telecom solutions and services for China Mobile's southern-based IT center (28.20 )
Co announces that it has been selected to build Business Operation Support System and Business Intelligence System as well as provide additional software and services, such as security support, network integration and monitoring, for China Mobile's southern-based IT center in Guangzhou.
08:06
CPBY China Information Security Technology reports Q4 contracts of ~$36.73 million (5.88 )
Co announces that its newly signed contracts in the fourth quarter of 2009 were valued at a record high of ~$36.73 million, an increase of over 22%, compared to the contracts signed during the third quarter of 2009, and an increase of 30% compared to the fourth quarter of 2008.
08:06
CSIQ Canadian Solar announces joint venture and distribution deal with West Holding of Japan (30.74 )
The co announces a joint venture and an 18 MW distribution deal with West Holding Ltd of Japan. The agreement stipulates a transfer of 14% of the shares in Canadian Solar Japan, which is the Japanese subsidiary of Canadian Solar Inc., to West Holding Ltd. Canadian Solar retains the remaining 86%. West Holding Ltd will distribute and sell solar residential rooftop systems designed by Canadian Solar Japan. The sales target for 2010 is approximately 18 MW. Deliveries began in December 2009.
08:05
REED Reed's announces that revenue increased ~21% over 4Q08 (1.41 )
Co announces it experienced record revenue growth in the fourth quarter ending December 31, 2009, seeing sales rise approx 21% over the same quarter in 2008. Detailed financial results will be available with the reporting of the audited financials in the company's 10K expected to be filed with the SEC in March. "... 2009 proved to be a difficult year for beverage companies due to the global recession. Some of the largest beverage companies reported sales decreases in the range of 8% to 10% and many premium brands were down closer to 30%. In light of this, Reed's held up very well, reporting first through third quarter sales down between 4%-8% per quarter, well above the industry average."
08:05
HTGC Hercules Tech announces the hire of Scott T.K. Gable as chief operating officer (10.91 )
08:05
HL Hecla Mining announces record silver production of 10.9 million ounces in 2009; forecasting approximately 10 to 11 million ounces of silver production in 2010 (6.29 )
The co announces record silver production of 10.9 million ounces, a 26% increase compared with 2008. Production records were also established for lead and zinc output with approximately 44,000 tons and 80,000 tons of each produced, respectively. Importantly, record production and improved prices for metals in 2009 significantly increased operating cash flow allowing Hecla to have more than $100 million in cash on hand at year end. This is after repaying $38.3 million of debt during the fourth quarter of 2009. Hecla is now debt free. Hecla is forecasting approximately 10 to 11 million ounces of silver production in 2010. If metal prices remain at their current levels, the company expects cash costs in 2010 to be below $2.00 per ounce of silver produced. Hecla Mining Company President and Chief Executive Officer Phillips S. Baker, Jr., said, "2009 was an exceptional year for Hecla with the record quantities of metal produced, increased silver production for the third consecutive year and a cash cost of less than $2.00 per ounce. With the cash generated, we were able to repay our debt early and still have more than $100 million of cash. A new revolving credit facility was also put in place. We expect 2010 to be just as strong with similar production and cash costs..."
08:04
FST Forest Oil reports results from horizontal Texas Panhandle Granite Wash wells (25.12 )
Co announced results from its third and fourth operated horizontal Texas Panhandle Granite Wash wells. In December of 2009, the third operated horizontal well produced at a 24-hour production rate of 15.1 MMcf/d, 1,200 Bbls/d of oil and condensate and 2,400 Bbls/d of natural gas liquids, for an equivalent rate of 37 MMcfe/d. In January of 2010, the fourth operated horizontal well produced at a 24-hour production rate of 16.0 MMcf/d, 1,300 Bbls/d of oil and condensate and 2,200 Bbls/d of natural gas liquids, for an equivalent rate of 37 MMcfe/d. These wells were drilled and completed with horizontal legs of approximately 4,200 feet and nine to ten stages of fracture stimulation for an average total well cost of approximately $6.8 million.
08:03
FSS Federal Signal signs definitive agreement to acquire Sirit at CDN$0.30 Per Common Share (6.80 )
Co annoucnes that they have signed a definitive agreement pursuant to which Federal Signal will acquire all of the issued and outstanding common shares of Sirit for cash consideration of CDN$0.30 per share by way of a court approved plan of arrangement under the Business Corporations Act. The transaction has a total equity value of approximately CDN$49.5 mln. The CDN$0.30 per share cash purchase price represents a premium of 37% over Sirit's 30-day average closing stock price, and a premium of 60% over Sirit's 60-day average closing stock price.
08:03
GEL Genesis Energy announces it will pay a regular quarterly distribution of $0.36/common unit, a 9.1% increase over last qtrs distribution of $0.33/share (19.34 )
08:02
CAVO Cavico announces Cavico Mining's shareholders approve proposal to obtain a controlling interest (4.59 )
Co announced that its proposal to obtain a controlling interest in its minority owned subsidiary, Cavico Mining, has been approved by 80.6% of Cavico Mining's shareholders. Under Cavico's proposal, Cavico Mining sold an additional 4 million ordinary shares of Cavico Mining to Cavico Corp. and its subsidiary. Cavico Mining's principal activities include mining construction and civil construction. According to the proposal, Cavico and its subsidiary have been approved to purchase 4 million newly issued shares at the price of VND 16,894 per share (equivalent to USD$0.90). With these additional shares, Cavico Corp. and its subsidiary will own approximately 50.2% of Cavico Mining, which will allow Cavico Corp. to consolidate Cavico Mining's financials in its future financial reports.
08:02
MON Monsanto announces continued cooperation with the U.S. Department of Justice (83.95 )
The co announces that the U.S. Department of Justice has issued a civil investigative demand (CID) requesting information on its soybean traits business, primarily seeking a confirmation that, as Monsanto has previously indicated, farmers and seed companies will continue to have access to the first-generation Roundup Ready trait following patent expiry in 2014. "Monsanto continues to cooperate with the U.S. Department of Justice inquiries, just as we have over the last several months," said Scott Partridge, Monsanto's Chief Deputy General Counsel. "We respect the thorough regulatory process. We believe our business practices are fair, pro-competitive and in compliance with the law." Monsanto has voluntarily cooperated with regulators to address their questions about its business and the broader agriculture industry. This request represents a continuation of that process. During this time, the company has provided extensive access to millions of pages of documents to ensure that regulators' questions are addressed. Monsanto noted that it will continue to provide information that is requested of its business.
08:02
EAG American Defense Systems receives $9.8 mln in TACOM orders for crew protection kits, spare parts and field services (0.36 )
Co announces that it has recently received several orders from the U.S. Army's TACOM Life Cycle Management Command for new ADSI crew protection kits, spare parts and field services totaling approximately $9.8 million. The orders were received under the company's existing TACOM IDIQ contract, which was expanded to accommodate the new orders. Of these orders, $7.0 mln is for CPKs to be installed on a variety of military construction vehicles. An order of approximately $859,000 in spare parts will be used to repair and recondition CPKs on vehicles currently deployed by the U.S. Marine Corps. ADSI's Field Service Representatives in Kuwait and Afghanistan are expected to assist in the installation of the CPKs and spare parts, which is provided through an order of $1.9 mln in field services through the end of the year.
08:01
CSII Cardiovascular Systems receives conditional IDE approval for ORBIT II coronary clinical trial (4.37 )
Co announces it has received FDA conditional Investigational Device Exemption approval to evaluate the safety and effectiveness of its Diamondback 360 System in the treatment of calcified coronary lesions. With this conditional approval, CSI is authorized to begin its pivotal trial, ORBIT II, in early 2010 and initially enroll up to 100 patients at as many as 50 U.S. sites.
08:00
KONG KongZhong announces changes to acquisition of Shanghai Dacheng Network (13.04 )
The co announces that it has entered into an amendment to the share purchase agreement with Shanghai Dacheng Network Technology (Dacheng) and its shareholders (which was previously announced in the Company's press release on December 15, 2009), which includes the entering into certain business cooperation agreements among Dacheng, its shareholders and one of the Company's wholly-owned subsidiaries. Pursuant to these business cooperation agreements, the Company will obtain control of Dacheng and expects to be able to consolidate Dacheng's financial results into the Company's financial statements beginning no later than February 10, 2010.
07:56
EGO Eldorado Gold announces a production update on its Tanjianshan and Kisladag Mines; both mines performed 'exceptionally' well in Q4 (14.85 )
Co announces a production update on its Tanjianshan and Kisladag Mines. Both mines performed exceptionally well in Q4 with combined total production of 107,904 ounces of gold, a 21% increase from the 3rd quarter of 2009, contributing to a year end total of 342,820 ounces of gold. This total compares favorably with the Corporation's 2009 production guidance of 330,000 ounces of gold. Cash operating costs for the 4th quarter of $307/ounce of gold and year average of $301 /ounce of gold continues to remain in accordance with guidance.
07:54
SAP SAP reports Q4 revs of EUR3.18 bln vs. EUR3.09 bln First Call Consensus (50.39 )
SAP will provide further details of its 2009 preliminary results and outlook for the full-year 2010 on January 27th. Additionally, later today the Company will make an announcement with regards to its support offerings. For Q4, co says the non-GAAP operating margin was approximately 34.8% (vs 2008's 39.1%).
07:53
BGG Briggs & Stratton reports EPS in-line, misses on revs; guides FY10 EPS in-line (19.58 )
Reports Q2 (Dec) earnings of $0.06 per share, in-line with the First Call consensus of $0.06; revenues fell 17.7% year/year to $393 mln vs the $429.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.80-$1.01 vs. $0.97 consensus. Co also states that "Consolidated net sales are projected to be approximately 6% lower between years primarily due to the absence of hurricane related sales of portable generators, selected price reductions to reflect projected lower commodity costs and lower engine shipments to Europe for lawn and garden applications. Production levels for substantially all products are planned to be lower in fiscal 2010 to decrease our investment in working capital. Operating income margins are projected to be in the range of 4.0% to 5.0%, and interest expense and other income are forecasted at $27 mln and $5 mln, respectively."
07:52
FMBI First Midwest Banc prices ~16.4 million shares of common stock at $11.00 per share (11.48 )
07:49
CRAI CRA Intl beats by $0.04, beats on revs (26.80 )
Reports Q4 (Nov) earnings of $0.35 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.31; non-GAAP revs fell 14.2% year/year to $72.8 mln vs the $66.9 mln consensus. "We experienced an uptick within Management Consulting as a number of practice areas rebounded from the levels we experienced in the first half of fiscal 2009. In particular, our Global Industrial Consulting practice produced a strong quarter, generating business across the Middle East, including the recognition of revenue that was previously deferred in that region earlier in the year. Consequently, our international business grew considerably, accounting for 31% of our fourth-quarter revenues - well above our historical levels. Our results also were supported by a strong contribution from Marakon Associates, which we acquired in the third quarter and whose integration continues to progress smoothly. Marakon performed on plan and is proving to be a great source of collaboration among our combined personnel. With regards to Litigation, Regulatory, and Financial Consulting, we continue to see a reasonable level of activity. However, that activity has not translated into increased revenue as many of these large cases have yet to move forward. Our Management Consulting services are showing signs of recovering from the global economic downturn as client activity has increased and translated into revenue-generating engagements, particularly overseas."
07:41
Global PC market leaps back to double-digit growth in the fourth quarter, led by a record quarter in the U.S., according to IDC
Led by a holiday season featuring price cuts of unprecedented duration, the U.S. PC market established a new record of nearly 20.7 million units shipped in the fourth quarter of 2009 (4Q09), resulting in year-on-year growth of 24%. Other regions also experienced solid growth, particularly emerging markets in Asia/Pacific and Latin America, leading the global market to 15.2% year-on-year growth for the quarter. According to IDC's Worldwide Quarterly PC Tracker, this marked the first quarter of double-digit volume growth since 3Q08. The fourth quarter results cap a strong second half of 2009, further cementing signs of a market revival and ending the year with year-on-year growth of 2.3%. In addition to the continuation of price declines throughout the year, other factors were in play for the fourth quarter. Following a stream of improving economic indicators which began in 3Q09, a release of pent-up demand was evident as buyers focused on a vast array of value-oriented notebooks that dominated the channel landscape in the holiday season.
07:38
On The Wires
CKX Inc (CKXE) announces that Simon Fuller and the co have agreed to a long term deal to ensure that the American Idol creator and executive producer continues to executive produce and provide overall global executive direction to CKX's hit television shows, American Idol and So You Think You Can Dance and the new online led property If I Can Dream, in return for a share of profits... AAR (AIR) announces that it has signed a five-year agreement with Allegiant Air to provide maintenance and modification services for Allegiant's fleet of 46 MD-80 aircraft... RXi Pharmaceuticals Corporation (RXII) announces a collaboration with Shalesh Kaushal, Chairman of the Department of Ophthalmology at The University of Massachusetts Medical School. The research collaboration will be focused on the application of RXi's self-delivering RNAi compounds for ocular diseases such as age-related macular degeneration... Omniture, an Adobe company (ADBE) announces that Toyota Motor Corporation Japan has selected Omniture SiteCatalyst as the company's online analytics platform to analyze and optimize online marketing campaigns to better contribute to purchases, enhance brand initiatives and foster customer loyalty... Numerex Corp. (NMRX) announces an agreement with Vodafone (VOD). The agreement provides Numerex with access to Vodafone's extensive data networks, which will be offered to its customers as part of Numerex DNA and the Numerex FAST platform along with an array of other M2M products and services... California Pizza Kitchen (CPKI) announces the expansion of their original agreement with Gourmet Gulf Company, an existing franchise partner. Under the new agreement, Gourmet Gulf Company will develop 19 restaurants throughout the Middle East over the next 10 years. During the term of the agreement at least one California Pizza Kitchen restaurant is planned to open in each of the following Persian Gulf countries: United Arab Emirates, State of Kuwait, Sultanate of Oman, Kingdom of Saudi Arabia, State of Qatar and the Kingdom of Bahrain.
07:31
ETRM EnteroMedics announces weight loss, hypertension and diabetes data from EMPOWER and ENABLE studies (0.81 )
The co announces clinical results from two studies of VBLOC vagal blocking therapy, including additional data from its EMPOWER study in obesity and interim clinical results from its ongoing VBLOC-DM2 ENABLE (DM2) study in diabetes using the next-generation rechargeable (RC) device. For all studies, the Maestro System continues to meet its safety goals, with no therapy-related serious adverse events reported across the various study populations. "Results from multiple studies of the Maestro System, which include over 400 implanted subjects, remain encouraging, with signs of clinically meaningful weight loss and control of obesity related co-morbidities as well as a safety profile unmatched among bariatric surgical procedures," said President and CEO Mark B. Knudson, Ph.D. "Patients in the DM2 study, who use the RC Maestro System for approximately 14 hours a day, experience both meaningful weight loss and significant reductions in their HbA1c levels. Further, because the DM2 study uses the next-generation RC device, it shows promise in resolving patient compliance for those patients that did not use the device for the prescribed amount of time in the EMPOWER trial and earlier studies." Dr. Knudson added: "We look forward to meeting with the FDA during the current quarter to determine the appropriate regulatory path forward for the Maestro System as a treatment for morbid obesity and its related co-morbidities, diabetes and hypertension."
07:31
SNSS Sunesis Pharma announces publication of nonclinical Voreloxin data in leukemias; studies demonstrate Voreloxin acts synergistically with cytarabine and induces bone marrow aplasia (1.27 )
Co announces the publication of new nonclinical studies with its lead drug candidate, voreloxin, in the journal Cancer Chemotherapy and Pharmacology. The results demonstrate voreloxin's potent cytotoxic activity in human acute leukemia cell lines and in an in vivo model when used alone, and enhanced or synergistic activity when used in combination with cytarabine. SNSS is currently completing Phase 2 studies of voreloxin as a single-agent or in combination with cytarabine in acute myeloid leukemia and expects to begin Phase 3 testing in AML later in 2010. Voreloxin, alone and in combination with cytarabine, was evaluated in 3 human acute leukemia cell lines: HL-60 (acute promyelocytic leukemia), MV4-11 (AML with a FLT3 mutation) and CCRF-CEM (acute lymphoblastic leukemia). Voreloxin was active in all the leukemia cell lines, including the AML cell line, which is relatively resistant to cytarabine in vitro. Using a combination index analysis, voreloxin with cytarabine demonstrated synergistic cytotoxic activity HL-60 and MV4-11 cells, and additive activity in CCRF-CEM cells. Co states, "We studied voreloxin alone and in combination with cytarabine in leukemia cell lines, as well as in a mouse model of bone marrow ablation. The additive and synergistic effects of the combination in vitro, coupled with the supra-additive effects of the drugs in vivo, translate directly to our ongoing Phase 2 AML program. Importantly, the effects of voreloxin and the combination regimen on bone marrow were fully reversible, mirroring the treatment paradigm for AML."
07:30
CONM Conmed Healthcare Mgmt Signs $16 Million Multi-year Agreement with Clark County, Washington (3.15 )
Co announces that it has signed an agreement with Clark County, Washington, a new customer, to provide medical services for individuals detained at three county facilities. The contract is for an initial two-year term and Clark County has the option to exercise four one-year extensions. The initial annual revenue of the contract is approximately $2.5 mln and with anticipated price increases the contract is projected to generate approximately $16.0 mln throughout the full six-year term. Services include staffing, pharmacy services, laboratory services, mental health services, and emergency room services.
07:28
FPL FPL Group halts capital expenditures in Florida (51.50 )
Citing a negative decision on its rate proposal by the Florida Public Service Commission (PSC) today as further evidence of a deteriorating regulatory and business environment, Florida Power & Light Company said it will immediately suspend activities on projects representing approximately $10 billion of investment over the next five years in Florida's energy infrastructure. FPL said it will immediately suspend activities on: Development of two new nuclear reactors at Turkey Point beyond what is required to receive a license from the Nuclear Regulatory Commission; Modernization of the Riviera Beach and Cape Canaveral plants; The proposed Florida EnergySecure natural gas pipeline; and Numerous discretionary infrastructure projects targeting improvements in efficiency and reliability within FPL's power generation, transmission and distribution units.
07:03
CBEH China Integrated Energy announces acquisitions of two gas stations in Shaanxi Province, China (8.65 )
Co announces that it has reached separate agreements to acquire two gas stations located near the city of Xi'an, Shaanxi Province. The Company has acquired operating rights and leased all of the assets of Xi'an Huafu gas station for a total consideration of $3.8 mln and will be operated under a 10-year lease. During the past twelve months, the gas station sold approximately 7,500 tons of fuel and generated revenues of $6.6 mln. For the fiscal year of 2010, the Company estimates it will sell approximately 8,400 tons of fuel and generate approximately $7.4 mln in revenues. The Company also has acquired operating rights and leased all of the assets of Chang'an Lanlian gas station for a total consideration of $5.0 mln and will be operated under a 15-year lease. The gas station distributes both gasoline and diesel, which includes blended biodiesel. During the past twelve months, the gas station sold approximately 6,800 tons of fuel and generated revenues of $6.0 mln. For the fiscal year of 2010, the Company estimates it will sell approximately 7,800 tons of fuel and generate approximately $6.8 mlnin revenues.
07:02
BRCD Brocade announces the pricing of its offering of $300 mln in aggregate principal amount of 6.625% senior secured notes that will mature in 2018 (7.95 )
07:01
WSM Williams-Sonoma raises Q4 rev and EPS guidance; discusses FY11 (22.75 )
CO raises Q4 EPS guidance to $0.69-0.74 vs $0.50 First Call consensus; raises Q4 revs guidance to $1.06-1.08 bln vs the $1.03 bln consensus (previous guidance was for EPS of $0.36-0.45 on revs of $970 mln-1.03 bln). Co reports 8-week holiday comps were up 6.5%; total sales for the period were up 7.4% to $783 mln. (Speaking of FY11:) Collectively, the co expects these initiatives to drive top-line revenue growth (net of store closings) in the low single digits (consensus calls for 2.4% growth) and non-GAAP diluted earnings per share growth (excluding any potential non-recurring charges associated with additional store closings) in the range of 10-15% - with the greatest improvement occurring in the first half of the year. "We are extremely pleased with our holiday performance. Revenues, selling margins, and controllable expenses all exceeded the high end of our expectations, and the actions we had taken to drive our business from both a competitive and financial perspective proved to be highly successful... To improve profitability, we will drive increased efficiencies in our world-wide supply chain and enhance retail productivity. By the end of 2010, we expect retail leased square footage to decline by an additional 1% to 2% versus fiscal year-end 2009."
07:00
AHCI Allied Healthcare secures Two New Contract Wins (2.86 )
Co announces it has secured a four-year contract with Carmarthenshire County Council in Wales and a two-year contract with Rochdale Metropolitan Borough Council in the Greater Manchester conurbation. Under the new contracts, Allied has the opportunity to deliver up to 2,000 hours of home care services per week (104,000 hours per year) as a provider for Carmarthenshire, a county in West Wales with a population of almost 180,000, and up to 1,300 hours of home care services per week (67,600 hours per year) for Rochdale, a borough in North West England, with a population of over 200,000. These awards mean the addition of a new branch in Rochdale, which opened in November 2009, and additional hours for two existing Welsh branches, Carmarthen and Llanelli, commencing by April 1, 2010.
06:34
GWR Genesee & Wyoming reports traffic for December 2009 and 4Q09; carloads decreased by 11% year/year (31.59 )
Co reports traffic volumes for December 2009 and the fourth quarter of 2009. GWI's traffic in December 2009 was 61,917 carloads, a decrease of 7,674 carloads, or 11.0%, compared with December 2008. GWI's traffic in the fourth quarter of 2009 was 187,471 carloads, a decrease of 33,982 carloads, or 15.3%, compared with the fourth quarter of 2008.
06:34
OSTE Osteotech sees Q4 revs of $26.3 mln vs $22.85 mln single analyst est (3.24 )
Co issues upside guidance for Q4 (Dec), sees Q4 (Dec) revs of $26.3 mln vs. $22.85 mln single analyst est. Co says during Q4 it generated $1.0 mln in revenue from sales of its new innovative products all currently in limited launch phases. Revenue in the fourth quarter of 2009 also included $3.3 mln in revenue from an agreement to license certain of the co's tissue processing technology, which, net of related expenses, is expected to contribute approximately $2.3 mln to fourth quarter profitability. The co realized all of the revenue under the arrangement in the fourth quarter of 2009 and will receive the consideration over the next 3.5 years. Based upon the preliminary unaudited fourth quarter results, the co expects to report approximately $96.7 mln in revenue for full year 2009. Excluding the one-time impact on revenue of the new licensing arrangement, the co expects to report full year 2009 revenue of $93.4 mln. The co previously provided revenue guidance for 2009 of between $92 and $94 mln. Osteotech also reported that it exited 2009 with approximately $10.7 mln in cash. The co's guidance for its cash position was between $9 and $10 mln. In addition, the co announced that it has expanded its financial flexibility with a new, unused $10 mln line of credit established in late December. This new line of credit, coupled with the co's cash position and the consideration it will receive for its new licensing agreement, should provide the resources necessary to allow Osteotech to continue to execute its growth strategy throughout 2010.
06:32
SMSI Smith Micro Software expects fiscal 2010 full-year revenue to be $125-135 mln vs $129.37 mln consensus (8.40 )
Co issues in-line guidance for FY10 (Dec), sees FY10 (Dec) revs of $125-135 mln vs. $129.37 mln First Call consensus. In 2009, Smith Micro's unaudited revenue performance was in-line with financial guidance expectation at approximately $107 mln.
06:31
RRD Donnelley & Sons awarded multiyear agreement to provide printing services for AT&T Advertising Solutions (22.86 )
Co announces that it has been awarded a multiyear agreement to provide printing services for AT&T Advertising Solutions. The agreement is for printing about 450 directory titles serving consumers and businesses in the Southeast region of the country. Terms of the deal were not disclosed.
06:22
S&P futures vs fair value: -1.20. Nasdaq futures vs fair value: -5.00.
06:22
Asian Markets
Nikkei...10907.68...+172.70...+1.60%. Hang Seng...21716.95...-31.70...-0.20%.
06:22
European Markets
FTSE...5504.67...+31.20...+0.60%. DAX...5997.08...+33.90...+0.60%.
06:02
CAE CAE Inc acquires ICCU and VIMEDIX to offer a complete training solution for ultrasound imaging (8.63 )
CAE Healthcare has acquired ICCU Imaging and VIMEDIX in order to expand its portfolio with a specialty in ultrasound imaging training. ICCU Imaging specializes in developing cutting-edge multimedia educative material and offering practical and easy-to-use educational solutions to help medical providers perform a focused bedside ultrasound examination. VIMEDIX specializes in developing advanced echographic simulation training and has begun marketing a virtual reality animated transthoracic echocardiography simulator. Financial terms weren't disclosed.
06:01
XXIA Ixia Inside raises Q4 revenue guidance and announces cost reduction initiative following N2X acquisition (7.44 )
Co raises guidance for Q4 (Dec), sees Q4 (Dec) revs of $54-56 mln vs. $52.93 mln First Call consensus. This is up from $50 mln to $54 mln. The co also announced today a company-wide restructuring initiative estimated to yield annual cost savings of approx $11 mln. The cost savings announced today result mainly from the elimination of duplicate resources that arose from the October N2X product line acquisition. In addition to these direct cost savings, the company expects to realize scale efficiencies in its supply chain and administrative functions from the N2X acquisition and the acquisition of Catapult Communications. The restructuring plan includes a reduction in staffing that commenced in the first quarter of 2010 and should be complete by June 30, 2010. The company will record a charge for severance and other related costs of approx $3 to $4 mln on a pre-tax basis to reflect the impact of this restructuring. Approximately 80 positions will be eliminated.
05:37
RealtyTrac YE09 report shows record 2.8 mln U.S. properties with foreclosure filings in 2009 - an increase of 21% from 2008 and 120% from 2007
RealtyTrac releases its YE09 Foreclosure Market Report, which shows a total of 3,957,643 foreclosure filings -- default notices, scheduled foreclosure auctions and bank repossessions -- were reported on 2,824,674 U.S. properties in 2009, a 21% increase in total properties from 2008 and a 120% increase in total properties from 2007. The report also shows that 2.21% of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 1.84% in 2008, 1.03% in 2007 and 0.58% in 2006. Foreclosure filings were reported on 349,519 U.S. properties in December, a 14% increase from the previous month and a 15% increase from December 2008 -- when a similar monthly jump in foreclosure activity occurred.
05:28
CBY Hershey prepares Cadbury counter-bid - Financial Times (51.89 )
Financial Times reports Hershey (HSY 36.61) is preparing a counter-bid to Kraft's (KFT) hostile GBP 10.4 bln offer for Cadbury (CBY), according to people familiar with the matter. HSY has authorized a bid for the UK chocolate maker and a formal offer could be made before the January 23 deadline, they said. A Hershey bid would be welcomed by Cadbury, which is resisting Kraft's approach. Although Cadbury has not solicited a "white knight" bid from Hershey publicly, the confectioner has made clear that it would prefer Hershey to Kraft. Roger Carr, the UK company's chairman, has told the Financial Times that Hershey, which owns the rights to the Cadbury brand in the US, is "more appealing" from a cultural view. But Hershey would have to offer a higher price than Kraft's present bid to win Cadbury's support. According to the bid plan, Hershey Foods would authorize Byron Trott, a former Goldman Sachs banker who runs his own investment firm, to attract private equity investors to the deal. Also, Hershey Trust is preparing to make an equity investment of $1.25 bln (GBP 767 mln). While the use of debt, which would be necessary for a bid in the range of Cadbury's asking price, could threaten Hershey's investment-grade credit status, one person familiar with the matter said the bid being prepared "will probably be investment-grade and do-able".
03:36
On The Wires
Elbit Imaging Ltd. (EMITF) subsidiary, InSightec Ltd., announces that Japan's Ministry of Health, Labor and Welfare has approved the co's ExAblate MR-guided Focused Ultrasound system for the treatment of women with uterine fibroids... Suntech Power Holdings (STP) announces the completion and grid connection of two solar systems on the China Pavilion and the Theme Pavilion of the 2010 Shanghai World Expo.
00:45
KEG Key Energy Services provides December activity data (10.26 )
Chairman, President, and CEO Dick Alario commented, "Signs of improvement we discussed early in the fourth quarter continued throughout December. Compared to November, our total monthly rig hours increased 7%, with hours per day increasing 2%. U.S. hours increased 7% on an absolute basis and 1.5% per work day over November. Our pricing and job mix was relatively stable from November to December, and the activity increase occurred throughout our customer base. We typically experience weather disruptions in the U.S. market this time of year, and we estimate weather negatively impacted our rig business by about half a day during December. International rig hours increased 8% on an absolute basis and 2.5% on a per work day basis with our Russian operations contributing 5,055 hours to December's total. We are encouraged by the current pace of activity and by the anticipated growth in spending being discussed by our customers for 2010."
18:40
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18:04
CTIC Cell Therapeutics announces institutional investors purchase $30 mln of preferred stock and warrants (1.34 +0.17)
Co announced that it has entered into an agreement to sell $30 mln of shares of its Series 3 Preferred Stock and warrants to purchase shares of its common stock in a registered offering to two institutional investors. Each share of Series 3 Preferred Stock is convertible at the option of the holder, at any time during its existence, into ~823 shares of common stock at a conversion price of $1.21375 per share of common stock, for a total of ~24,690,000 common shares.
18:00
MIDD The Middleby Corp announced it has entered into a technology partnership with SpinFry, Inc. (46.66 +0.20)
17:51
SAIA Saia registers to sell 2.31 mln shares for stockholders (13.40 +0.08)
17:47
BIOD Biodel files $100 mln mixed securities offering in an S-3/A (5.00 )
17:30
GVA Granite Construction awarded $22.4 mln bridge demolition project in Mississippi (34.96 -0.04)
Co announced that Granite Construction Company has been awarded a $22.4 mln contract by the Mississippi Department of Transportation for the demolition of the U.S. 82 Greenville Bridge located ~100 miles northwest of Jackson, Mississippi.
17:29
ROSG Rosetta Genomics down 34% at $2.05 following 17:22 news -Update-
17:22
GMCR Green Mountain Coffee Roasters and Diedrich Coffee receive requests for additional information from FTC (85.68 +5.07)
Green Mountain Coffee Roasters (GMCR) and Diedrich Coffee (DDRX) announced that they have each received a request for additional information ("Second Requests") from the U.S. Federal Trade Commission ("FTC") with respect to the previously announced $35.00 per share cash tender offer by Pebbles Acquisition Sub, Inc. (the "Purchaser"), a wholly owned subsidiary of GMCR, to purchase all of the outstanding shares of common stock of Diedrich Coffee. As a result of the Second Requests, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") during which the FTC is permitted to review the proposed transaction has been extended until 11:59 p.m., Eastern Time, on the 10th day after the companies' substantial compliance with the Second Requests, or until 11:59 p.m., Eastern Time, on the next business day following that date, if the 10th day falls on a weekend or Federal holiday.
17:22
ROSG Rosetta Genomics Ltd. to raise $5.1 mln in registered direct offering (3.09 +1.24) -Update-
Co announced that it has received commitments from certain institutional investors to purchase ~$5.1 mln of securities in a registered direct offering. Rosetta expects to receive net proceeds of ~$4.5 mln after deducting placement agent fees and other offering expenses. ROSG has entered into securities purchase agreements with these investors pursuant to which ROSG has agreed to sell an aggregate of 2,530,000 shares of its ordinary shares and warrants to purchase up to 1,265,000 additional ordinary shares. Each unit, consisting of one ordinary share and a warrant to purchase 0.50 of an ordinary share, will be sold for a purchase price of $2.00.
17:22
ZLC Zale quickly falls 7% to $3.00 following 17:21 news of CEO leaving -Update-
17:21
ZLC Zale announced that Neal Goldberg, Chief Executive Officer and member of the Board of Directors, has left the co effective immediately (3.23 +0.08)
Co announced that Neal Goldberg, Chief Executive Officer and member of the Board of Directors, William Acevedo, Chief Stores Officer, and Mary Kwan, Chief Merchandising Officer, have left the Company effective immediately. The Board of Directors has appointed Theo Killion, President, to the additional role of Interim Chief Executive Officer. Mr. Killion joined Zale Corporation in January 2008 as Executive Vice President and was appointed President in August 2008. Previously, Killion held senior management positions at Tommy Hilfiger, Limited Brands, Macy's East and the Home Shopping Network. Mr. Killion will assume initial responsibility for all store operations.
17:16
CLC CLARCOR beats by $0.03, misses on revs; guides FY10 EPS in-line (33.95 -0.01)
Reports Q4 (Nov) earnings of $0.49 per share, $0.03 better than the First Call consensus of $0.46; revenues fell 11.9% year/year to $234.4 mln vs the $237.3 mln consensus. Co issues in-line guidance for FY10, co says assuming the economy does not worsen, it expects sees EPS of $1.55-1.70 vs. $1.65 consensus. Co says, "Looking forward to 2010, we expect filtration markets to gradually improve, more slowly in the first half of the year, and then more quickly in the latter half of 2010. We are fortunate to be primarily an aftermarket filtration company as we expect the domestic OEM market, particularly for heavy-duty engine filtration, to remain flat throughout 2010. As over-the-road trucking improves, the impact upon our heavy-duty engine filter sales should be relatively quick. We expect Asian markets, for most product lines, will grow more quickly than U.S. or European markets."... "We expect continuing improvement in operating margins throughout 2010 with projected operating margins for the full year by segment as follows: Engine/Mobile - 20% to 22% compared to 20.1% in 2009, Industrial/Environmental - 8% to 10% compared to 5.4% in 2009, Packaging - 7% to 8% compared to 7.9% in 2009."
17:09
CIO Asia Special Situation Acquisition Corp. (CIO) Announces Entry into Ordinary Share Purchase Agreements (9.60 -0.04)
Asia Special Situation Acquisition Corp., a publicly held special purpose acquisition company (CIO) announced it has entered into agreements to purchase an aggregate of 2,821,857 ordinary shares in privately negotiated transactions for a purchase price of $28,218,570 from shareholders who otherwise intended to vote against the previously announced proposed acquisition of up to three insurance companies and ~$650.0 mln of assets of two unaffiliated families of hedge funds. The purchase of the shares will take place concurrently with or immediately following the closing of the acquisitions and the purchase will be paid for with funds that will be released from ASSAC's trust account upon consummation of the acquisitions.
17:01
HPQ Gartner says worldwide PC shipments in Q4 of 2009 posted strongest growth rate in seven years (52.22 +0.25)
Gartner reportedWorldwide PC shipments surpassed 90 million units in the fourth quarter of 2009, a 22.1% increase from the fourth quarter of 2008, according to preliminary results by Gartner, Inc. It was the strongest quarter over quarter growth rate the worldwide PC market has experienced in the last seven years. It should be noted that these numbers are compared to a very weak quarter a year ago due to the economic downturn at that time. "These preliminary results indicate the recovery of the PC market on a global level," said Mikako Kitagawa, principal analyst at Gartner. "The U.S. and Asia/Pacific had already shown positive indicators last quarter, however the fourth quarter 2009 results were more concrete evidence of the recovery. The Europe, Middle East and Africa (EMEA) region entered the economic downturn later than the U.S. and Asia/Pacific, so it has been slower to recover. The EMEA region returned to positive shipment growth for the first time in three quarters, and Latin America and Japan also recorded shipment increases."
16:35
CRY CryoLife becomes largest shareowner of Medafor, Inc. and proposes combination between the two companies (6.61 +0.04)
Co announced that it has purchased ~1.6 mln shares of Medafor's common stock from Medafor's founders and certain principal shareholders for approximately $2.00 per share. Based on the most recent information available to CRY, these shares represent ~8% ownership of Medafor. CRY currently has the exclusive right to distribute Medafor's MPH polysaccharide hemostatic technology under the private label HemoStase within the U.S. for use in cardiac and vascular surgery and in many international markets for cardiac, vascular, and general surgery, subject to certain exclusions. CRY achieved $6 mln in sales of HemoStase in 2009. With its purchase of these shares of Medafor common stock, CRY believes that it is now the largest single shareholder of Medafor, in addition to being Medafor's largest distributor.
16:33
CLD Cloud Peak Energy reports of the Q4 coal production (16.75 -0.03)
Co submitted to Rio Tinto plc (RTP) on behalf of Cloud Peak Energy Resources, pursuant to their Master Separation Agreement, a report of the Q4 coal production for its four mines as follow: Antelope (100% interest) 8.523 mln tons; Cordero (100% interest) 10.6 mln tons; Rojo Spring (100% interest) 3.834 mln tons; and Creek Decker (50% interest) 0.496 mln tons.
16:31
MERC Mercer Intl announces covenant waiver for subsidiary (3.38 +0.03)
Co announced that its 74.9% owned subsidiary, Zellstoff Stendal GmbH, has obtained a waiver of the permitted leverage ratio of total debt to EBITDA under its loan facility for the year ended December 31, 2009.
16:31
CNBC Center Bancorp announced that for Q4 of 2009, it intends to establish a loan loss provision of $1.4 mln, to cover charge-offs of ~$1.2 mln in Q4 (8.76 +0.09)
Co said, "Our core earnings during the quarter benefited from a widening of margin and improvement in efficiency. This performance, coupled with the completion of our capital offering on September 30, 2009 served to further strengthen our balance sheet and fortify our existing capital position." Commenting on Q4 and looking at the outlook for CNBC in 2010, co said, "While we continue to see an improvement in balance sheet strength and core earnings performance, we are still concerned with the credit stability of the broader markets which can have an affect on our portfolio. Given the current level of high unemployment, we are not confident that the economy will stabilize and credit trends within the markets will show any signs of improvement in the near term. We therefore have continued to take steps to strengthen our balance sheet through our capital position and underlying core earnings power."
16:24
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16:23
LAB Labranche announces agreement to sell NYSE designated market maker; redemption of all its outstanding indebtedness; authorization of stock repurchase (2.78 +0.04)
The co announces that it has signed a definitive agreement to sell its NYSE Designated Market Maker (formerly specialist) business ("DMM") to Barclays Capital, the investment banking division of Barclays Bank. Barclays will acquire the Company's DMM operations on the NYSE for $25 million and will also purchase all of the Company's net DMM positions as of the closing date. The Company will retain all cash and other non-DMM assets, including its shares of NYSE Euronext, Inc. stock (the "NYX shares"). This transaction will generate $25 million of net cash proceeds to the Company. As a result of the transaction, the Company will no longer have a $76 million net capital requirement related to the DMM operations. The Company also announced that its Board of Directors has approved a redemption of all its remaining outstanding 11% Senior Notes due 2012, in the aggregate principal amount of $189.3 million, at the current redemption price of 102.75% plus accrued and unpaid interest thereon, pursuant to the optional redemption provisions of the indenture governing the notes... The Company's Board of Directors also intends to increase the Company's share repurchase authorization from the approximately $23.4 million remaining under the current authorization to $100 million upon completion of the transaction with Barclays. (stock is currently halted)
16:22
CVM CEL-SCI Corp reports 2009 EPS of ($0.31) vs. ($0.07) in the prior year's quarter; rent income rose 14.8% to $80,093 (0.95 -0.04)
16:21
MTEX Mannatech obtained Final Judgment and Permanent Injunction in lawsuit (2.93 -0.02)
Co obtained a Final Judgment and Permanent Injunction in its lawsuit against Techmedica Health (Techmedica), and Ionx Holdings (Ionx) prohibiting them from the manufacture, use or sale of products infringing Mannatech's patents and requiring them to pay Mannatech $250,000 in damages.
16:19
GST Gastar Exploration announces John R. Rooney assumes position of Chairman of the Board effective immediately (4.27 -0.01)
16:18
APA Apache acquires 51% stake and reserves throughput capacity in Canada's Kitimat LNG project (106.85 +1.53) -Update-
Co announces that its Apache Canada subsidiary has agreed to acquire 51% of Kitimat L.N.G's planned liquefied natural gas export terminal in British Columbia. Apache also reserved 51% of capacity in the terminal. The proposed Kitimat project has planned capacity of about 700 MMcf of natural gas per day, or five million metric tons of L.N.G per year. Preliminary construction cost estimates of $3 billion (Canadian) will be refined at the conclusion of front-end engineering and design. The project will employ an estimated 1,500 people during construction and 100 on a permanent basis. Under the terms of the agreement, Apache will make an initial payment to the current owners of Kitimat L.N.G with additional consideration due upon achievement of certain commercial and regulatory milestones. Apache will fund the project's F.E.E.D - to begin shortly - with a final investment decision expected in 2011. First L.N.G shipments are projected for 2014. Apache will become operator of the project.
16:16
KYN Kayne Anderson announces 5.5 mln common share public offering (25.28 +0.26)
16:15
BPFH BostonPrivate Fin announces partial CPP Repayment (6.43 +0.20)
The co announces that it has received approval from the U.S. Department of the Treasury to begin repayment of the Company's outstanding $154 million in Series C Preferred Stock issued to the Treasury pursuant to the Capital Purchase Program. The redemption of $50 million of Preferred Stock was completed today. This redemption will result in annual savings of $2.5 million, or $0.04 per share, due to the elimination of the associated preferred dividends. However, a one-time, non-cash, after-tax reduction in earnings per share of $0.04 will be incurred in the first quarter of 2010 due to the acceleration of the Preferred Stock discount accretion.
16:10
CPKI California Pizza issues preliminary Q4 revs and comps in line; lowers Q4 EPS guidance (13.90 +0.40)
Co sees Q4 EPS of $0.15-0.17, excluding non-recurring items, vs. $0.18 First Call consensus, down from $0.16-0.18 previously; sees Q4 (Dec) revs of $167.8 mln vs. $166.87 mln consensus. Full service comparable restaurant sales decreased approximately 5.8% vs guidance of (6.5)-(5.5%), compared to a 7.2% decrease in the fourth quarter a year ago. "Despite sales challenges for new restaurants in the high unemployment states of California, Michigan and Florida, we were very pleased that our fourth quarter comparable sales were within our previously guided range. While the quarter benefited from easier comparisons, the year-over-year and sequential quarter improvements mark what we believe may be the first signs of a comp turnaround. Comparable sales improvements were widespread across our dine-in, take-out, and delivery channels, and we credit the turnaround to the successful launch of our wine, call center, and catering programs along with November's new menu rollout. Looking towards 2010, we are cautiously optimistic that these programs and other new revenue initiatives will continue to drive guest traffic and comparable sales."
16:07
RNWK RealNetworks' founder Rob Glaser steps down as CEO (3.86 +0.11)
The co announces that founder Rob Glaser has stepped down as CEO. He will remain chairman of the board of directors of RealNetworks. The company also announced that its board of directors has appointed Robert Kimball president and acting chief executive officer. The board also appointed Mr. Kimball to the board of directors.
16:05
KBR KBR Inc awarded shop fabricated piping contract by Consumers' Co-operative Refineries (20.98 +0.70)
16:05
IESC Integrated Electrica Announces CFO to Leave (5.65 +0.11)
Co announced that Randy Guba, Executive Vice President, Chief Financial and Administrative Officer, is leaving the Company. Guba will continue to serve in his current capacity to assist in the transition of his duties to his successor.
16:05
FSC Fifth Street Finance declares Q2 cash dividend of $0.30 per share, up from $0.27 per share (11.36 +0.08) -Update-
Co says, "As Fifth Street originates more deals, we expect our quarterly dividend to continue to increase during the year."
16:03
ZZ Sealy beats by $0.01, beats on revs (3.83 +0.06)
Reports Q4 (Nov) earnings of $0.02 per share, $0.01 better than the First Call consensus of $0.01; revenues rose 1.9% year/year to $332.1 mln vs the $309.4 mln consensus. Gross profit margin was 39.5%, an increase of 331 basis points compared to the prior year fourth quarter. U.S. gross profit margin increased 371 basis points to 41.5%. This increase in U.S. gross profit margin was driven primarily by lower material costs and continued improvements in manufacturing efficiencies, which were partially offset by unfavorable pricing trends. "With macro-economic, credit market and retail industry conditions showing signs of recovery, our industry is generating more examples of stabilization in demand and profitability. In this environment, we believe our product innovation and operational improvements have put the Company in a strong strategic position to accelerate gains in profitable market share and drive increasing value for our shareholders."
16:01
WUHN Wuhan General Group appoints new Chief Financial Officer (2.28 -0.01)
Co announces the appointment of Philip Tsz Fung Lo as its new Chief Financial Officer and Treasurer, effective as of January 12, 2010. Mr. Lo replaces Haiming Liu, who resigned as the Company's Chief Financial Officer for family reasons on January 11, 2010.
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